And so we find that with the Australian Red Cross, not with the Danish Red Cross, together we have this sort of process of thinking about how to allow the Red Cross to be more proactive as opposed to reactive. And so when we think about the type of projects that we work on, they're very much looking at where the world's going to be in a few years and what kind of funding gaps there are. So if you look at today for humanitarian assistance, it's about $38 billion a year is how much money goes towards humanitarian assistance, but it's still a $30 billion gap. So how do we narrow that? One way to do it is thinking about allocation and we also think about new ways to kind of activate different pools of capital. And so in that regard, we currently have a couple of projects. Some of you heard today about the Open Libra project that was announced. And so we're looking at from a blockchain perspective. We also look at catastrophe bonds. Catastrophe bonds are essentially an insurance product where we go out and raise $30 million from the private sector. And I'm just looking at the clock right now. I just kind of caught my eye. I have, what, 13 minutes to talk here until we blow up on the session? Oh, okay, the whole session. Oh, so I will stop talking in 10 seconds. So we have insurance products. We're just basically insurance, it's a catastrophe bond. We're insuring volcanoes. We're also working on community currencies. Some of you may have heard earlier that you will be hearing about later. Community currencies essentially allows vulnerable communities around the world to create their own tokens, their own cryptocurrency. And we fund that through our billion dollar in cash transfers. And that essentially allows individuals to trade amongst themselves and then with other communities to sort of spur growth, resiliency, vulnerability. Currently, the project is worth grassroots economics. And Nick, who's over here will talk a little bit from Simpo. We have about 6,000 people on this, on the Poe sidechain doing about 70,000 transactions. And I think it's about 20 different currencies. So I will leave it there. Thanks, Sandra, and Nick, that collaborated on the project. So it's great to have the technology provider and the, I guess, representative. Hi, everyone. My name is Sandra. I'm the Pacific Cash and Live Live Hoods lead for Oxfam. Oxfam is a global NGO, a nonprofit present in over 90 countries. We have several use cases active across the organization. And I am in charge of the work that focuses on how to leverage the capacities and blockchain technology to assist people in disaster preparedness and response. So I guess I'm going to focus more on message than what we're actually doing. You can hear about that right after this. You can just stick around. For us, the message is really that one of Oxfam's key missions is to act as a broker and a convener. Connecting local to global. We work across dozens of civil society organizations just in Vanuatu, where I live. Globally, that turns into tens of thousands of community-based organizations and civil society actors. So in that way, more community facing. But what that also means is that we have the capacity to collaborate and connect two field environments where blockchain is still something that is unknown and where people are still very much disconnected. Hi, I'm Ix, the co-founder of SEMPO, which is the other organization that was working on this project with Oxfam. And I'm going to resist the temptation to talk about it at all, because we're appropriately allowed to stay. So SEMPO really focuses on creating financial inclusion for underbacked communities around the world. I think this is a really fascinating aspect of the blockchain space, because it's sort of one of those narratives that's been running inside this space since Bitcoin first came up. Everyone was talking about how this is going to equalize finances for the masses. Yet somehow, here we are, 10 years afterwards. And the reality is that we haven't really seen a lot of this materialize. The reality is that Bitcoin did redistribute wealth, but it didn't really redistribute wealth the way we wanted it to. We've got a lot of very rich people, and they're not people who are necessarily honorable in the first place. And I think one of the problems here is that a lot of organizations focusing on the blockchain space don't really focus on the communities that need themselves. It's very easy to get trapped in a bubble of the Western world and try to face problems we have here. So that's what SEMPO focuses on. We actually developed a lot of our current platform by working in Lebanon. I'll talk about that more later, but one of the interesting experiences we've had over there is we made it over to Lebanon. We were working with refugee communities. We worked out that actually what we were building was totally inappropriate, and we threw the entire thing out, which totally sucked. It was, I guess, better for it in the long run. One of the interesting things I think we're going to learn, looking at the sort of Bitcoin dark bottom here, is that Bitcoin really does not work for communities at all. The second something is a good store of value. It kind of ceases to be a good means of transaction. And when we're seeing this inside the Bitcoin space, the more the price of Bitcoin went up, the less people wanted to trade with it because it was suddenly too good to afford. And so I think this kind of leads us to the conclusion that we actually really want to create a good impact for all communities who need something that isn't a great portable currency. And this is a great quote by a guy named Silvio Gissell, which I love, which is that a good medium of transfer needs to rot like paper, rust like iron, and evaporate like ether. And even this case refers to the stuff of the 1800s. So it's pretty prescient. And so what we work on, and this comes into community currencies and the stuff we're doing in the country, is really working on how to transform global forms of reserve like Bitcoin into different forms of currency that are actually useful for communities to use rather than just creating the quality of work again. As part of the DEF CON scholars program, I think there's a recognition that there is a massive disconnect between people living in the rest of the world and people who have access to conferences like this. So we're really in the business together of bridging and straddling that disconnect, but also making a concerted effort to break those hierarchies. So if you're interested in learning about how that's actually done, then you should stick around. Thanks. So I won't say, I guess, too much more, but just to re-emphasize the interdisciplinary nature of what we do and the importance of understanding and clearly communicating why blockchains are an interesting tool for coordination, what they mean for groups of people and for society and for controlling and governing networks and assets and data and value. We're fortunate enough to have some really incredible people contribute and we've got videos of the talks, just shout out to Suno Van Sandbox who's up with that from IT University of Copenhagen, Kate Dian who just spoke on the main stage on brilliant design ethicists, and extend again that invitation to the broader community around bringing what you have and your knowledge and expertise and coming humbly to learn from people that are maybe a little bit closer to local communities, already doing things at scale, or of course people that would call themselves representatives of the local communities themselves, to really mature and evolve this blockchain for social benefit idea and build better solutions that are more meaningful and helpful and enable that choice, which is why we all started. So thank you so much, and with that I'll have the next presentation to prepare themselves. And thank you for your attention. Feel free to approach anyone that you've seen or ask any questions to continue. I also encourage you to turn your attention to Open Libra, which was just announced as kind of an open source effort to respond to Libra and collaborate around Facebook's Libra in terms of, in terms of building a network which creates governance where people can actually influence and participate in the decisions that are made. So that's something else really interesting that connects to this. So thanks again, and please stick around for the next one.


2021 has seen a wave of people's struggles washed through Latin America. Many of these movements were closely linked to electoral processes and in some cases, they triumphed at the ballot boxes. Other struggles were against repression, authoritarianism and imperialism. Of particular significance were the mass movements and protests that swept through Haiti and Columbia. In both these cases, people's movements were at the forefront of highlighting the long pending grievances of people. Columbia is set to see an important election in 2022. Another country that would see a similar process is Brazil. Zoe Alexandra analyzes these protests and movements and their impact. At the same time, there were also two very important process of struggles that I'll mention. One would be in Haiti against the illegal extension of the term of Jovenel Mois. The Haitian people have been on the streets the past several years mobilizing against corruption, mobilizing against militarization, mobilizing against the government's alliance with many of the armed gangs in the country. Specifically, what brought them onto the streets in 2018 was the corruption scheme with the funds from Petrocaribe from this regional cooperation with Venezuela. They continued their mobilizations against the government into this year because Jovenel Mois attempted to inconstitutionally extend his term in office. There were massive mobilizations, especially on February 7th when his term was set to expire. These mobilizations continued especially on Constitution Day. People continued to be on the streets and then in July, Jovenel Mois was assassinated. This case is still under investigation, but it was carried out by a group of over 20 Colombian mercenaries. It's unclear to this day who exactly ordered this assassination. It is, of course, not something that the people's movements wanted, nor is it demand, nor did they want this to happen. The country has struggled to emerge from this crisis. There have been a series of natural disasters as well, an earthquake this summer as well, following the death of Jovenel Mois. Haiti continues to be a hotspot in terms of people's mobilizations, people's movements, demanding that imperial forces respect the will of the Haitian people and that they're able to create the proper process of transition to democracy. This will continue to be a primary concern for people's movements in the region, supporting the democratic transition in Haiti, supporting the strengthening of people's movements in order to further this establishment of true democracy in the country where there's no corruption, where the US doesn't get to dictate what happens in the country and where the people can live freely, have access to education, have access to health care, and so many other things that they denied. The other very key process that happened in this last year was the national strike in Colombia, which took place for about three months, beginning on April 28th against a proposed tax reform bill. These massive protests were met with severe repression from the armed forces, from the police in Colombia. During the three months of strike, over 80 people, protesters were killed, both by police and also by paramilitary forces. This was a turning point in Colombia because it brought the pressing issue of militarization of paramilitary violence to the cities and no longer remains a question the only people in the country said have to deal with. And this really galvanized the country. It gained international headlines. People were talking about the violence in Colombia, talking about the problems that they face in the country. And next year is an electoral year. There is an alliance being built among progressive movements, the historic pact being led by Gustavo Petro. And so many are wondering whether this alliance, whether the momentum from the streets will come, translate into an electoral victory of this progressive alliance. This remains to be seen, but either way it will be an important process to watch out for. And then the final process is taking place next year as well as the general elections in Brazil. This could potentially bring an end to four years of Jair Bolsonaro, who according to social movements is a fascist criminal who has overseen the unnecessary death of over 600,000 Brazilians due to COVID-19 and his irresponsibility in handling the pandemic. He is under investigation by his own parliament and has been, cases against him have been brought to the Hague, the International Criminal Court. And so this will be very crucial in terms of recovering stability in Brazil, recovering dignity to the people ending these four years of Bolsonaro government. And this will be taking place at the end of next year as well. So it was a very important year, this 2021 in terms of the masses of people, whether it be on the streets, whether it be at the polls, rejecting the model of neoliberalism, rejecting this model of exclusion, rejecting the conservative grip that the U.S. has helped support on the region, countries like, for countries like Honduras to end 12 years of national party rule that was imposed through a violent military coup, through continued assassinations, the repression of social movement activists is very important. Similarly, in Colombia to see so many thousands of people on the street will translate into electoral victory, that's remained to be seen, but the tide is shifting in the region. People are no longer accepting the status quo of exclusion, of misery, of poverty. And it was definitely a year that saw a shift in the correlation of forces on the continent, a shift in favor of these progressive alliances, alliances in favor of Latin America. And so this is what we're looking at for the next year. This is what we're seeing in the last year, and we will always be following it from people's dispatch.


All right, separate traders welcome on back this Tuesday again, not Monday, but Tuesday of course with yesterday being Martin Luther King Day, we are off, but great to be back at least here January 16th shortly after 2 30 p.m. Eastern time great to see Grant one of our long-time students here inside our main chat board But how about everybody else just give me a quick chat back if you could hear me loud and clear I'll tell you what after traders talk a lot of us rightfully so ended up, you know kind of dipping away I mean we teach in class you really shouldn't be proactively here and like really hunting aggressively for trades heading into the early afternoon So great to see Brian Michael Kathleen Bill Roger Phil great to see all of us otherwise and a seam and any of our new members joining us otherwise here Long day on the stick and we filled up on water. We should be good to go Actually quick house keeping note to begin all of us inside our live trading room We got rich for the afternoon. So he'll be tap tagging in for myself at three o'clock You know, he's actually normally done the afternoon But I've come back actually over the last couple of months here since the root for the 3 p.m. Session just gonna be jumping on a coaching call just at three o'clock and rich will be here for all of us Otherwise, so with that said if you'd missed out earlier because again We teach it like you know normally after traders talk after like 10 30 11 o'clock in the morning Step away take a you know a bit of a step back if you want to be here perfect I mean, that's what you know we're here for myself and rich and even Fausto could be in and out at times too But this was a really interesting move that ended up happening just added nowhere midday I just rich called out the drop the whole and you know when it drops off this much that Obviously some sort of news had to have come out. So I was actually on a call with one of our students finishing up I was like running behind I was like, you know what like I gotta check the news with you here And I even just went right on my cell phone. I beat rich to it at the time So spirit airlines they ended up having their deal with jet blue You know basically rejected by a judge federal judge and you know with that jet blue I thought ended up making a nice little positive reaction from it all But I was more focused on safe just normally don't see such a big drop. This was down over 60% at one point earlier this afternoon So I was looking for a bounce and really just to kind of give you the skinny on what I was looking for at first The stock was at all-time lows from covert time back there I mean it was literally at the low maybe two pennies away So I was looking for a break lower in the sense of maybe a five dollars We can get a good support level good clean bounce from there I wish I could tell you that I took this bounce at first here as it moved back up. I didn't But at that point. Hey, I thought there was a chance that we'd see a pullback So with it being easy to borrow on my platform. It was a great short afterwards So bounced up and you know from 750 760 I was calling that out pretty quickly I just found it like pretty sharply from book map and I wanted to type it in pretty quick But by the time I got in small size, but it just started to pull back very fast Well, even at that point it ended up bouncing from like 660 ish 670 Wanted 640 so I said all right just take a little profit get out and then from there the more it fails to make that lower low You know, it's more likely to happen over time I didn't jump back in long, but I closed out short took some money afterwards and a decent trade But yeah at this point now, I mean I'm gonna put this on our watch list just because I mean it's just down a lot It's within our price range as a good order book, you know, I would respect the lower Respect the higher lows higher highs here at the time being $8 big resistance level that we had from earlier in the afternoon and if we just go to level four here pretty quick You got something even there now at 785 blocking it so, you know, maybe over time if this ends up breaking lower here This could be a pretty good short once again Michael says on top of what I had mentioned here the court's decision, right? The decision also raises doubts about the recently proposed deal between Alaska air group ALK and Hawaiian holdings, which I will take a look at those stocks Mike right now No, we were focused on save we were focused on JetBlue, which hey positive reaction up nearly 6% right now So, you know, I'm gonna put those two on our watch list just out the gate and then we'll check out Mike's ALK Down 3% had a little spike up and down off the news, but you know, not really as Not tradable. It is tradable. It doesn't offer as much opportunity I think compared to JetBlue and then spirit Hawaiian could though. I mean, this is like This is a wacky one, isn't it? I mean with unfortunately everything that happened Just you know over the last year with Maui and you know the situation that happened there Then there was a big pop was it Proposed buyout. Was that the buy the rumor sell the news deal that we had back in the beginning of December? Let me just double check the news out on this here. I forgot what happened exact Oh, so that was the Alaskan Airlines group the transaction Mike, right? Okay, so it was Alaska bought it for $18 per share in cash $1.9 billion deal and then from there a big drop and then You know what I like the JetBlue. I like the Spirit in terms of volatility Hawaiian it's not a bad one, but I feel like after it already were traced back up I'm not as certain of it like really making a good move for this afternoon now coming up Maybe by the end of this meeting. I'll come back to Hawaiian here, HA All right, so we got two and actually I'll tell you what we're probably gonna have three here I normally don't like following these stocks that are like below a dollar, especially if they're much lower And further away from the $1 threshold.  All right. Well, I'm gonna toss tall for students here Not it's not to ask what does fun do but you know, what's what's going on PHUN for any of our longtime students of CTO You know, we've traded the stock in the past So, you know, why are we trading it today? Why'd we call it out just before wasn't on our main watch list because again, we don't like really trade these You know penny stocks nicknamed John says more buyers and sellers Any of our longtime students like Michael was there back then Grant Lata Lawrence perhaps rejoining us. I know he's a I think I'm coming off a little Neat thing going on, right? Well, this stock is affiliated with Trump Funware and this was with DWAC. This is the Trump Digital World Acquisition Company, but back when DWAC popped. Well, it was PHUN also that ended up making a pretty historic run. This is back in 2021 there big spike up Now, I think that they've had reverse splits since So it didn't exactly go up to 25 dollars on the nose or 23 on the nose I think there was one reverse split since that time But you know, hey, whether you like them or dislike them Whether you're into politics or don't like politics. I personally stay away from it all It's just to say experience prevails when it comes to trading it So with Trump winning the caucus last night in in Iowa, that had a nice pop on dwac Now that doesn't lead me to just jump to trade this stock. Why look at the spread. It's terrible Trust me. This is not going to get better over time I guarantee you that If you're to trust me on anything, it would be that this spread's going to remain big on this stock So that is where I think a lot of traders are jumping more towards this ph un Although right now, I mean, it's like up two or 300 plus percent Definitely a lot more than the dwac trade I'm going to put this on our list because it's at least tradable has a penny spread at least Yeah, it's making some pops and then some shakes back down throughout the day But it's maintained really higher lows across the afternoon So, you know, I'm not going to really put this on our watch list each and every day going forward But more coming off what happened overnight. There's a big win for for trump in terms of like the Margin of victory. So you're getting a big reaction out of these trades. You got to respect that and you know, just This one here is just untradable looking at the spread If this was any better, I'd put this one on our list like number one This could be a good swing over time if you think about it or whether you, you know Or a fan of trump or not just if you see a good opportunity after this pop That's something to think about on a swing perspective. I think there's warrants too for the dwc I'm not really too jumpy about warrants in general. So Uh, listen to me. I'm going to go with ph un It's one of the three There was another one that eventually got delisted I think it was c v fi cf vi, but that one got delisted over the Last couple years. So that's all All right. So what we'll do is go from top to bottom now. Pardon me there We'll see what we could add to our watch list That chat so that's another social media platform company actually I don't know if trump backs this one up as much but it's like, you know, maybe in Some sort of affiliation with dwac Because I know trump has like the truth social thing going on dat chat is another like social media type of platform So I didn't even realize like I forgot dat dhts was dat chat And it's actually my ignorance playing off until right now. So, uh, you know, I missed that personally on this move I know we had called it out. I know richard called this out after the uh morning had finished up Popped during traders talk topped off right around four dollars But yeah now at this point making lower highs Not looking as good as the other trade Hmst as we just kind of continue going through now This actually made a hell of a run up since like 12 o'clock noon from 13 80 14 up to nearly 16 nearly two point move there Just again, the order book is so skimpy and thin. I'm not a fan of that. So that one pass You got a bunch of these cheapy stocks now whether I don't think any of these are affiliated going forward with trump I think it's just because once they you got this cheapy up 300 percent You're gonna get a couple others that could be short squeezes over time mark mark is one of them Vxrt vaccine company pumped earlier it looks like, you know, I didn't really even see that until now We don't really call out those stocks below a dollar. That's the issue So unless if there's an actual rhyme and reason that myself or fowso would find words It's like I'd rather keep it around like $5 $10 $20 $30 like somewhere around there Rum is in rumble. I think right Rumble I forgot about that as well another social media You know platform company kind of like a youtube competitor where you know video video sharing But a little pop before but not really a whole lot to it here right now at this point grwg I think a pot stock I know one of us called out tilray earlier today that stock is such a tease at times It's tradable, but it's just such a tease where you expect the big pop and run that we had back in 2018 Just for anyone new here just to show this run that was even in 21. Let's go to 18 this move here This was a real move that we caught off tilray's ipo back in 2018 pot stock back then And if you were with us back then it's like ever since you you wanted to see the stock make a pretty good move and run You know on a day trade. It's been good to us here and there, but Right now I mean it's hard to pass up on it as a day trade because hey, it's at the highs It's you know cheap. It's good order book I don't mind putting it on our list for now. I like the air lawn trades more Like the funware trade more All right, let's see if there's anything else looking good here across the gainer side Hey market, this is all while the markets are at the lows right now, right? I mean, I just saw uv xy up over 7 So, you know just until recent markets were dropping off pretty steadily Don't tell that to amd amd just kind of blasted right out the gates this morning like a bat out of hell like You know between this and the video but amd is up Over 7% now it was up nearly 8% earlier today So a really strong trade on amd going back up You know, it's going to be hard to ignore a stock like that at least there I'll add that kind of to the back end of our list amd If uv xy was moving up better at this time of the day right now or like breaking a new high or Just looking sharper. I'd probably add that there but for right now I'll pass Ooh a nice little trade on this smmt You know, I there was actually a lot more on the gainer side here just as I kind of went through So this smmt Uh, I mean not a bad move I mean certainly a higher high compared to back what what we had back in May june time last year It's been a great swing trade seemingly but as far as the day trade up over 9% at the highs I'd be interested in seeing if this could you know, at least get a little faster of a move here heading into the close All right, so we got a good list already. We got Six stocks, I think to begin from the gainer side Check over see if there's anything looking good from the loser side here Alk took a 2 cent hit on this earlier today. It's like a You know tiny dinky hit because you know it was down so much that you wanted to see a good dead cap bounce And it was after 10 30 So it was kind of as it was pulling back here seeing if there was a case to see support build It took a long time, but it just failed and you know, it's going to happen if it's not going to make that pop again So the no business holding on to a trade like that Weight watchers Weight watchers taking a huge hit Not at all time lows.  I don't mind adding it. We don't really have like a Yet we're kind of working our way there, but I don't mind adding weight watchers for right now short of all my platform at the lows APLD this is kind of a stinker here going to pass on that You know boiled down big but not really doing a whole lot here since the the early morning session if anything All right, so hey, I I think that's pretty much just about it here I mean really the crypto stocks I stayed away from if you joined us early on in traders talk today I told you I mean it took a little while for me to get my like gears kind of go and get my feet grounded on Mara this morning, but it's actually been a great short off of friday's closing price at 1898 level that Yellow line that you see up top there. That's easy to say in hindsight, right? I mean, I wasn't looking for that short just to say hey that big level certainly created a cleaner resistance Clean touch and then it came back down Uh, I don't really have much business with the crypto stocks right now coin base Mara Actually coin base doing a hell of a lot better than Mara today percentage wise at least coin base is You know positive right now Mara is down over seven or nearly seven percent Mike saying ALT down ten percent Uh, you know just up until recent it was breaking, you know new lows and there's a case for that to try and continue Right looking at the daily chart for as much as this ran up back in the beginning of december heading into this year You know taking a bit of a breather and pull back today For right now kind of keep this on our side list for right now. I'm like not a bad trade and tradable, but You know and and I'll root yawn if you're already in it. That's the thing too Like I'm not rooting against you. I just right now unless if there's more so something That's actually just like on the way up or like breaking a new low in our face right now I'm gonna just kind of keep it to what we got dwa seed trying to break a new high Again, you know my feelings on this stock. I like the move. I hate the order book So, you know, if you want to do this as a potential swing That's one thing if you want to look at the optional order book and that's more liquid. That's You know even better But don't try and do this on a thousand shares.  So and I don't want you to do that. So that's where I say I'm going to put this on our list under those conditions. I like the fun trade A lot more my friends. So keep that in mind Both are going to move pretty much together And then from for any of course just the dwac popping right there So there we go I just caught that chat right now for any and great to see you by the way joining us on youtube one of our students Normally inside our live trading room appreciate joining us there for any and you know, of course to all of us Otherwise on youtube facebook live, etc Just all of us on social media at cyber trading you be a friend tell a friend Let's spread the good word of cyber trading university In fact, Fausto has a couple of big events lined up this week just tomorrow coming up He's actually going to be at nasdaq headquarters big event streaming on nasdaq trade talks with their host gil malandrino So I know that we're going to post the link for that just over time inside our live trading room for that So for any look to join us there tomorrow actually if you're looking to get that link for Fausto But on top of that rich, if you could do me a quick favor there and post the well 365 link Inside the live trading room too just as we're wrapping up well 365 started this week big multi Speaker conference throughout this entire week and Fausto will be on thursday for that at 10 a.m So definitely look to register just right there at the link that rich will post coming up and You know just to make sure that you get access to that not not just Fausto all the other educated educators out there I know rob hoffman tom sasnov john sevill Uh, just a whole litany of different traders out there. All right All right, and hey if you're on social media wanted to join us inside our live trading room Just scan that qr code on the top left of the stream just to get yourself access to a week long trial Just to us inside our live trading room, but for michael grant chris john and all of us otherwise Rich will be on at three o'clock again I'm going to jump on a coaching called one of our students here coming up at three And then um, hey, I'll be in the chat board obviously all the way through But you got rich coming up on the mic at 3 p.m. All right folks talk to you all soon


Going on everyone Sam here with late sports cards for been 23 24 pretty me NBA hoops basketball hobby 10 bucks break number 12 At random team style there is a look again at your random results as always you can find those on the website on the results tab as Well as the link in a chat So good luck everybody Riley with some spots Okay, let me do this really quick. I'll tag this off and then I'm gonna I mean We're gonna have a little bit of time for personals. I'd imagine I Have a little bit of time for Personals not a whole hell of a lot right now. Let me see what the queue is It's literally just Matthew with an origins international. That's it So I mean if you want to get an order in I might be able to get to it. I'm not going to guarantee we're going to though This is gonna take about an hour. So I'll be done with group breaks at 130. We have one personal In queue right now. So if you really want something That's not soup doesn't take super super long to rip. We can do that for sure Love it Jeremy. Appreciate that man Yeah, that's awesome man, that's so awesome Hell yeah, keep it going case on Wallace on the presentations For the phone I went Jake to sing we all want Jake I broke the mic That's true, that's true Shrive was here. Yeah, we ain't turning the mic back on Just got the old man to bed D-Gen luck a couple of redbacks here really quick we have Brandon or no James Najee rookie in an Evan for me. Yeah, nice one there. Sean does. Oh, you okay hold them to that drive At least show the baby how to take care for them. There you go. That's very much just as important right there just as important It's card care Yes Make sure is it? We'll check. I think it's all fat. Yeah. Okay. Here we go. I've done this in a minute Lonnie Walker to 1.99 Zara Thompson Wives Lee Kobe Brown Luca Nick Smith James Najee George Scoot rookie Anthony Davis rode to the finals to 4.99 to is a Zara Thompson ignition a reek black and base The Skeletor thing Hunter Tyson city edition Yeah, yeah, it's not that he's like he's like clip it clip it it was a it was a funny Victor Wembley I'ma Victor Wembley I'ma Scoot Henderson He didn't a funny Gary Trent jr. On the hot signatures for the Raptors congrats Toronto Six women Yama attack the rack Purple Zion it was a funny PS buff Evan Mobley green to 99. It was so confused when he said Taylor Hendricks Purple Jabari Walker A lot of a lot of like unknowns in that one. I'm in Thompson rookie Steph and a rookie special of one be Leonard Miller Put your Fino purple Chianta George everyone left It's just I think it's just Jeremy over on On Twitter just played Thompson foil. It's no one else Everybody went to bed with your babies Hey, if you're in YouTube chat, say hi pick it I'm a jocks jr. Monty Bates Brandon Miller Zach Levine And now a clownie. Haha. I'll laugh it up clownie. Oh, yeah, there's a couple of Individuals, I'm sure they're still walking around Well be with the Reds and definitive the less steamers. Can you switch? You asked me to do that. I think so Jason Tatum Tell me on Are we serious? Trying to get him on the thing so they don't fall. I thought you're doing that.  Did you use that one though one you put in there already? Most likely yes Needed to gamble worse birthday ever Your birthday today Spencer Did it good perfect? Best case scenario Back and cover we win come out on top of hockey again. Hi, my jocks Do not listen to anything. I tell you with any other sport except hockey. Listen to me on hockey Don't listen to me on anything else. It's our Thompson Why? wisely Luca quiet Leonard city edition foil Smith Najee Roy Hachimara wrote to the playoffs two nine ninety nine That's right, and we show up with no one's here brawn Marcus sasser.  Olivia Maxins prosper Taylor Hendricks. Hanty grab it anti-gravity Nicola Yolk it's shmary Bailey clay purple Isaiah Mowgli. I just I bet the Kraken I just bet the Kraken the Kraken plus one and a half join Walsh Jason Tatum. They've done me well a few times. Hey like a trap the throwback Orioles that love it man Just in Vukovic Wemby ignition of Jairus Walker Wemby again Scoop purple of shake Milton for the T-wolves KG Jordan Hawkins hoopla of LeBron Sounds like a lot of Sounds like a lot of There we go that is Monty Bates Brandon Miller Luca Donchich All presentations all the presentations. I'd be fire. Let's get you one. Let's get you one Jeremy Exactly your shooter Kobe Buffkin On James speaking of PS Buff I need some PS chains right now Sorry Ben Shefford What yeah Dear and Fox rode to the finals fire the cannons Yeah, I'm far. Um, let's go Let's go It's game day boys. Yeah, I'll tell you George. Yeah, technically. It's a game day Zemsky. Whoo Scoot Henderson Let's go awesome hood Chafino Anthony Blackrup. You really want to fire the cans. We should turn this mic on Pick it. No the 199 fire the Poisson Leonard Miller There is Garland 2012 throwback writing this eBay post for like an hour Chafina My I'm in Thompson rookie special Can't quit more. I'm in Thompson. Laurie marketing to 25 big. I shop gun look like Laurie Mark and then Nice one there called Bridges That's a baby Tron Bar that's a baby Tron bar rapper ever heard a baby Tron Really? Just guys know it's make a bunch of like very strange sports references I'm not really either but there's a tic-tac page called literally called crazy sports That's the only reason I know it because I just use songs and crazy sports references Set some museum mixers from update hobby and jumbo mixers This is okay. Oh nice Big double-O and yucko Kong woo for the Hawks. Let's go Make sure to get your spots with forest tomorrow night everybody Yeah, we I don't think we're doing a party this year We did a Thanksgiving We just did like an outing for For Christmas last year Sorry Thompson Shake Milton to 199 PSA 9 MJ rookie than every other car was PSA one god about a like hundred thousand dollars swing No, clowny laugh it up clowny PS buff Shay Leonard Miller J. Little hood Shafino Chris Murray Cam Whitmore I'm in Thompson Fred Van Vleet purple Monty Bates and Brandon Miller The massive swing on that one. You have a keynote Luke up extreme team Maxwell Lewis Max Christie ignition of Steph Mara Shaq here in Fox That's lightning wind baby. Let's go Kenyan Martin jr. Let's go I just realized any black Yanis Bronn Marcus sasser Christian Brown second-year Hoops ain't got him. He always does. Hey What You do that It's in the back Yeah, George, what's up? I know Scoot Henderson job, right? It's not really a good thing and push gently Scoot attack the rack Mari Bailey Tristan Vukovic on the artist proof to 25 Wasn't he still like calm back from injury? Reinstated also Azar Thompson. Yeah, wasn't he heard Wemby and Wemby again Nightingale is our Thompson Lovely LeBron purple. Yeah, see now playing Ben Shepherd and the Edwards Look, uh, Nick Smith LeBron Hi voltage Scoot Henderson James Najee case on Wallace Oh Yeah, yeah, that's pretty funny Smoke or whatever it was called It's only me again. Oh god. He scared everybody away Shri.  That's what we need to find my friend Bofa Red back of Brandon Ingram Nice one for the Pells nice. I'm in Thompson on the On the presentations for the Rock is drinking for four hours Danny Green to 75 Samaria Kamara Shaq and Chris Murray Wait, I don't know man Thompson does he I hope so you had the sniffles that I Nick Smith, Jr. James Najee Yansey George right sense of all Scoot Jalen Slosson and Kauai Leonard City Edition Yolkich Mari Bailey clay Podzemski ignition foil Scorch, we're losing it man. There's Steph Curry foil Roba, God Vukovic Wemby rookie scoot rookie Wemby rookie again Keldon Johnson scoot rookie again Andre Jackson, Jr. Rookie order for the Bucks That's on that Milwaukee MKE scoot again Purple boy on McDonovich Brandon Miller Noah Clowney Jordan Hawkins rookie 2199. It's actually pretty solid Grats on that pelicans PS buff Taylor Hendricks Kevin Durant McCall bridges Colby Jones purple of Dorian Finney Smith DFS Drafts Kings guy Jack Howard D Wade Andre Jackson road to the playoffs A road to the finals is Steph Curry a Kobe Brown Grady Dick on then Thompson and Luca Donchich Purple Gary Payton Jalen Green high voltage I'm a shock Scoot Henderson on the presentations coming to get me there you go to drive Hi, so that is a highlights of Luca 60 point 20 rebound tennis this game 60 2010 We'll tell Shawnee owes us a cagger for sure He absolutely does Parking lot. Oh, let's see parking lot What a mess that would be Jalen Duren two nine ninety nine on the green Nick Smith, Jr. James Najee purple Dilo Keontae George Henderson Anthony black. Yeah, it's Wemby Leonard Miller purple Shea Let's see put God you imagine I'll see parking lot party Put your fina like a 30 Grant Williams do one 99 for the maps Champions Bruce Brown to 99 nice one there championship moments for the nuggets KD base Colby Jones Joe L&B who blah of Joe The brawn Marcus sasser bam on a bio high voltage foil Olivia Maxons Prosper Jairus Walker As well Yolkic rookie of Amari Bailey clay Thompson Chris Mullin nice NBA hoop sink Rats on that one there warriors Tristan Vukovic Wemby rookie Lewis was our Thompson rookie Derek Lavelin, Luca, Ahman Thompson, M. Whitmore, Ahman Thompson, Jalen Pickett, Kyrie, Monty Bates city edition LaMelo Old school darty hell yeah Brandon Miller no a clowny purple of Mike Connelly Kobe Bluffkin Gigi Jackson Jairus Walker case on Wallace ignition foil Wemby Niyama Scoop now playing Ahman Thompson G Jordan Hawkins and city edition Brunson Did you put your hands up or not?   Yeah, the line was like That's a forfeit them Scoop slossen no a clowny to 199 for the nets on the roof Has to go for a barbecue burger Mid you think it was made by that place You think it was made by the mid-place Jake's story turn is Mike on there is no shot Jake's might get turned back on Turn it back on I'm in Tom's and Shepherd Yonte Johnson, Stephen Curry Nope Scoop on the anti-gravity foil Zion you know that sound when you put two phones that are calling each other close together Yeah, that's like that, but a hundred times worse James Najee max troops for the cabs on the auto That's again cabs auto. He has a Cleveland Cavalier, but isn't his heat Jersey Purple there grows Amen Thompson Allen Averson green to 99 for the Sixers Very Tyson He's here giggling in the background It's sound like we were getting airstrikes by the Warhaw dude Look at the pile was purple. Yeah, honestly Set one D Luca so bad His laughing at the end Yeah, I'll be buffkin Purple Jalen Slawson Taylor Hendricks There's LeBron nice one there on the foil Shattered T way to Andre Jackson Wemby on the sheesh and Kobe Brown Class speak turns the speakers up tonight. He probably does dude. I got a pretty pretty Pretty real sound system there Yeah, yeah, that was the plan Let you think about Pretty much. Yeah, this is your IRL five-minute time out Hi, dude, Anthony. I'm crying It's that one Should go to bed probably stride probably or mix of water in one or the other Yeah Chopper gunner Marvin Bagley on the red Orgy races What do you say? I said corgi races Jesus Really good Do you have doors? You've seen this? No Oh man, this is a classic Tim Hardaway at 1.99 You watched this movie Great movie Strawther Who is that? John Candy John Candy? I was gonna say I thought it was Brandon Miller, Brady Dick He's got John Candy, Dan Aykroyd That's pretty good They're like the two lead Hey, Muhammad Goya LeBron James, Road to the Finals Murray, Ant-Man, LeBron It's on Wallace And Purple, Steph Curry Laugh it up, Noah Clowney Zahar Bridges, City Edition Derrick Lively Smith, Hoopla, Steph Curry Kiantay Johnson, Brady Dick Jalen Williams, 2nd year J-Wil Nice one there, congrats, Thunder Thunder Patterson It was a funny Sometimes he does hard stops It was a funny What? I'm again, Josh Green Like, imagine getting this out of the book Okay? I play Lego 4 This is like Tim Hardaway at 75 Look at the last break we did I got Carl with the barcode It was a funny clip In all caps Wemfneyam again, Brandon Miller An explanation What am I supposed to say? What is a barcard? How did you get Kyle? What is a barcard? What do you mean by you got him with the barcard? What do you mean by a funny? There's no context whatsoever in that statement at all Tobias Harris Purple I don't understand I figured it out And Devin Booker Not from any Not from any of Sean's help No, I kind of just piece it together Good God Last break Carl with the barcode It was a funny clip You say what if it was funny No, it was a funny No, he probably did the Brandon Ingram Oh, yeah Like he does when he goes outside Marcus Sasser Anthony Black Livia Maxins-Prost from Nikolay Yokic Kawhi Leonard Mari Bailey and Clay UF with a spot and Darin picking up a couple of jerseys Should be able to get to a couple of personals tonight We'll have Matthews Origins International Blaster and then a couple of jerseys for Darin as well A couple more boxes to go here, everybody We should just add more faces Just start coming in Make our lives lighter It needs to be like Boomershaft Super jump Super jump That's what it needs to be We're coming in two packs Yeah, the nunchucks That's the only thing I'm not looking for about draft We don't have a lot of stuff The only thing you can do is you can just use the flap charm True Just go Just back in And vice versa Right Hey, Jose Alvarado Redback Champion The Nuggets Championship Parade Of course, Anthony loves that Anthony's on board there Mari Bailey He got you, man Giannis That'll be me That'll be the guy in the breaker chair We're talking to him right now Tatum Andre Jackson Jr. to 190 And let's go He's training right now Oh, yes Seth Lundy Ryan Rupert To whose? Sensible Zion Ten cases of jumbo is really not that bad And twenty cases of choice I could do in my sleep at this point Ryan Rupert It was like If there was like five cases of super jumbo Then I would have a bit of an issue That would be tough And Whitmore We can knock the hobby out pretty quickly Ben Shepard Reeves And Sheesh of Case on Wallace A.J. Stila Draft A.J. Griffin S.O.D. Griff Brady Dick Evan Forney To what? 75 Chris Murray Ant-Man Case on Wallace Case on Wallace G.G. Jackson A.J. Jemal Murray Joris Walker Purple of Jemal Murray LeBron James Marcus Sass Jason Tatum That is extreme team Yeah, we are going to get buried in paper, man Good Lord Olivia Maxins Prosper Yolkitsch Case on Wallace Hypnotized of Hardin Shreya Young Jalen Wilson Jairus Walker Robbie Brown Marcus Sasser Goya Damon Lillard Study the freaking checklist a little tomorrow Leakey Black Nice one there Rats on that one Hornets on the rookie on Fulavalli Vince Carter Hodzemski Azar Thompson Strother Devon Vasell On the Purple The Towered I'm Ajax Jr. Now playing Foil D. Wade Andre Jackson D. Book Foil And Brandon Miller Rookie Alright, two boxes left everybody Two to go Channel 2 is a Ah, lobby Sean Cook Yeah, he's got diaper rash When you had your headache on Wednesday you weren't feeling good I was like, yeah, Jake's got a little baby headache Sean goes here, he's got like a brush Got him Got him Got him Dude Go home Dude Go home Of John and Kaminga For the Warriors Go to Shrive Go to bed Gary Trent Jr. Guy is not going to be ready for poker tomorrow I can tell you that I think that needs to happen Probably Shrive Poker at 12 p.m. Guy is not going to be ready for poker at 12 p.m. Jordan Walsh Koala Kulavalli Rukavik Zach Levine Green Green Levine to 99 Hey, Wemby and another Wemby Calvin Johnson, Ignition of LeBron Scoot rookie KG Kobe White Jordan Hawkins Maxwell Luce Christie Kamara Tobias Harris Road to the Finals to 9.99 I go all in on the first five hands anyway This is Art Thompson Anthony Black Eric Loughlin And anti-gravity This is Art Thompson Sean S Picking up some Super Jumbo spots Audie Bates Brandon Miller Purple James Harden Noah Clowney Kobe Buffkin Extreme team Yannis Tray Jones Taylor Hendricks Nick Smith Jr. KD Colby Jones This is Art Thompson Harris Walker LeBron Anthony Edwards Foil Sasa We got next Jordan Hawkins Livia Maxins Prosper Nicola Jokic Amari Bailey Artist Gilmore Nice one there for the Bulls 225 Hot Signatures Hala City Edition Jokic on the 2012 throwback foil Miller Kyle Lowry Purple Good Shafina Jaren Jackson Jr. to 199 on the foil for the Grizzlies What's a Jaguars? Ken Whitmore It's not even the right sport I'm Ed Thompson Jet Howard Jay's Fair Moses Moody Pascal Siakum Jay's Gigi Jackson Gigi Roy Hachimara Zach Levine City Edition foil Luca Donchich Nick Smith Jr. Kominga James Najee Purple Tray Murphy James Najee again and Emicelle Is that a 48? That's weird That's really weird That is a really weird strive No, that's odd Scoot Henderson Redback That's nasty There we go Congrats Trailblazers and a Shade on Sharp Redback for the Blazers as well Only one sold out of 50 Maybe they're first out off the line parallel or something I don't know I don't think it'd be that high number though That's the only thing I could think of strive That is weird Davion Mitchell Last box here everybody by the way Kulabali Daren Fox to 199 Case on Wallace Davis Carl Anthony Towns Purple G.G. Jackson Honcha Morrow Joris Walker Steph Curry Road to the Finals to 999 Marcus Sasser Eric Lively We got next A.N. Olivia Maxins Prosper Steph Curry What? What are you laughing at now? 99 Dyson Daniels? What? My body is a weird thing That's just happened Marcus Sasser It's so weird Is that G? Is that Art Thompson? Paul George I don't know It was weird Strother Scoot Brandon Miller Trey Young Wemby And Gwe I don't know dude I really don't know anything I have no idea what's happening to him It's like a reverse party Mellowball Instead of going out I've been tired D-Wade God, man Go to bed Well, cool volley Andre Jackson A lot wrong with J Kobe Brown Jaden Hardy Second-Year Auto Yes I just won there Mavs Gabe Vincent Ah, men's Thompson This guy has lost it, man Julian Phillips Jason Tatum Kobe Buffkin Tariq Whitehead Seth Lundy Bryce Sensible No, no, you're hearing this Rupert Donovan Mitchell No, that was a legit thing That was said, yes Taylor Hendricks Ah, men's Thompson Sheeshfoil Hey, Keontae Johnson And KD We've got a I'm into the McDonald's earlier Jaden Hardy Gary Trent Jr Chris Mullin Christian Brown Jalen Williams Max Strauss Leakey Black Andre Jackson Jr. to 25 Artis Gilmore And Laurie Markinin I'll do it for the break, everybody Thanks again for the filp Up next are a couple of personals


This is a mathematical snack from the Association of Teachers of Mathematics for you to enjoy. There is a farmer who lives in a field. So he lives slap bang in the middle of eight fields. So there's his house there. And this farmer is obsessed with the number nine. So every time he looks out a window of his house, he wants to see nine workers working in the field. So the easy way to do that is obviously have three workers working in each field at the top. So there's a total of nine along the top there. And another three workers working in each field down the side there. And another three workers working along the bottom. And obviously another three lots of three workers working down that side there. So in total we've got nine along the top, nine down the side, nine along the bottom, and nine down the other side. And because there are one, two, three, four, five, six, seven, eight fields, there are a grand total of 24 workers. So it gets busy. It gets to harvest time and the workers are getting tired. And they ask the farmer if it would be possible to get somebody else in to give them a hand. So he agreed. But he said, I would like, that's the problem. You can have 25 workers working in total, but I still need to see nine workers working on each side of the house. So your challenge is to get 25 workers in all eight of the fields. And you can do that by changing how many workers are in each field. So for example, you could have four and one and four because that makes nine. And you could have one and four down there because that still adds up to nine. And you could have one and four there because the bottom now adds to nine. And you could have four, one, four down there because that also adds up to nine. So if we check how many workers he's got there, we've got four, eight, 12, 16, 17, 18, 19, 20. So he's got 20 workers all in, but not 25. Okay, so the rules are there must be nine in total across each side around the house. You must have people working in the field. You can't have zero people or no people in there altogether. Okay, and that is it.


Over the last couple of years I've seen this question pop up from time to time in different social media feeds and that is, what is a man? Whenever I hear the question I kind of chuckle and think what a odd thing to ask. I mean it's gonna vary from person to person and from culture to culture. But then I rewatched Michael Mann's Heat and the answer hit me like a ton of bricks. You want to know what a man is? A man is a guy who works all day, he comes home, takes off his shoes, sits down on his recliner, pops open a bottle of scotch on the rocks and puts on heat for the 80th time. He can't be bothered right now. He has a three hour tour day forced to sit through about some of the best men in the business doing heists. That's heat. That's the definition of a man. Let's talk about it further. The reason I get the privilege of talking about this brilliant film today is because Gummo over on YouTube decided to throw some money at me to review this film. And you too can be like this gentleman and become a member at patreon.com slash adamdoesmovies where there's a $30 mithril tier. At that level you get a movie review every couple months as long as you stay with it. I give you a shout out and it's a lovely thing. You can also do the same thing on YouTube, the same tier as apply. That's where my buddy Gummo was at. And now let's talk about heat. So thank you again, sir. Robert De Niro plays Neil Macaulay. He has a very special set of skills, skills he's acquired I assume over many years in the industry and that industry that profession is professional heist guy. I don't know what do you call that? What do you call that job? I'm a heister. I steal, I'm a robber. I steal things. I guess robbers. But that just seems like not classy enough for what our guy does. And he will tell you he is precise. He's calculated. He knows the ins and outs of every score he's about to do. Every hit is meticulously planned out from top to bottom and he picks out the thousand ways it can go sideways. And he comes up with escapes for each. He comes up with scenarios. He comes up with solutions. Now on the other end of the coin, we have Al Pacino. Okay, okay. Al Pacino's in the mix. Lieutenant Vincent Hanna isn't screwing around.  Neil's not alone though. He's got a team. He's got his trusted guy, his wingman I guess would be appropriate and that's Val Kilmer. And then there's Tom Sizemore as Michael. And of course, every good crew needs a wild card.  And in order to find these jobs, they have to have a guy who kind of bankrolls this whole thing, who finds these marks. And that's John Voight, America's sweetheart, John Voight. And this is just some of the great A talent on display. We got William Feitner in this thing. We have Hank Azaria and we even have a little Natalie Portman show up once in a while to drag this whole movie to a screeching halt. Now as I stated, this movie is almost three hours long. It runs two hours and 50 minutes. One of my criticisms, it's a bit too long. We could shave off 20 to 30 minutes. And I don't think it would lose anything. In fact, I think it'd be better for it. The stuff that is extended here is a lot of the relationship crap between Portman and her father Pacino. We also have De Niro's character getting to know a young Philly. We got Kilmer's character who's having a really hard time with his relationship and trying to make that thing work. Spoiler, it's not going to work because the through line of this movie kids is you have your career and nothing else. When you're in this position, you have to cut ties with everything you love in your real world because your real world shouldn't exist. It should all be the heist. It should all be the job, whether you're on the good side of it or the bad side of it. Pacino cannot hold his family together because he is 24 seven thinking about the next play, thinking about where these assholes are going to be and why they're setting up shop over here and what they're going to be targeting next. And De Niro's got to be five steps ahead of him. And Neil Macaulay makes that very clear to his men multiple times. You can't have connections because at the drop of a hat, you have to be willing to pick everything up and blow out a dodge, leave it all behind. This movie is absolute perfection when it's these guys sitting around talking about how good they are at things.  That's interesting to me. That's exciting to me. And that's really where heat excels. Listening to these guys plan everything out. Listening to Pacino go nuts on people. Okay, you think these guys are gonna be here? They're gonna be over there. You don't know what they're gonna do next.  There are certain movies people will point to and say that's the blueprint. And I truly believe heat is one such film. It's inspired so many different movies and video games. At the top of my head, I think about the amazing spot in Grand Theft Auto 5, I think, where it basically recreates the entire sequence from heat. You watch this movie and then watch something by Christopher Nolan, specifically Dark Knight. I think it's probably pretty fair to say Christopher Nolan liked what Michael Mann was doing with this stuff and took a lot of inspiration as far as how that camera set up the cinematography, the grittiness, the rawness of it all. Heat from a production standpoint stands up perfectly. It hasn't missed a beat. It sounds phenomenal. The music is frantic. The lighting is great. It's chaotic. It's energetic. But it's got this dourness to it. Those blue hues, that granite city. It's just very sterile. It's very distant by design. These people aren't real people. They don't have the same problems you and I do because they're living in this other world. Not a world I would love to be in, but certainly one I really enjoy watching along with. Well, that's 1995's Heat, a freaking awesome movie. Special thank you again to Gumo for the recommendation. Okay, time to hit the subscribe button, like the video if you in fact like the video. And if you haven't seen Heat, do yourself the favor. Schedule a little time, pour that glass of scotch and become a man. See you next time. I really can't do it, but you know it all. Just okay.


If I sound a little bit like Boris Karloff's because I had an allergy attack yesterday and my throat is all kind of raspy so But so don't be frightened And so I'm going to talk about central banking And there's nothing more fun than a lecture on economics on a Sunday morning especially a nice sunny Sunday morning and What I'm going to start off with saying is that How interesting it was when the US government first began bailing out big banks in New York City the Wall Street Journal Ran an article by a business historian named John Steel Gordon Blaming the whole mess the whole recession and everything on Thomas Jefferson The third American president he called it the baleful influence of Thomas Jefferson and his anti central bank Philosophy and Jefferson opposed the the first American central bank. It was called the Bank of the United States and And then Forbes magazine another sort of mouthpiece of the Wall Street elite Ran an article that said no it wasn't just Jefferson and his anti central bank ideas. That's the problem It's Ron Paul to Because Ron Paul is the contemporary Prevair of these ideas of these critiques and both of these articles argue that the real problem is The Fed the American central bank does not have enough power and the reason it does not have enough power is that these ideas These are these of opposing the Fed to live on that were created by Thomas Jefferson And we need to stamp out these critiques of central banking so that the central bank can be even more powerful than it is Then we will no longer have business cycles I'm not making this up John still Gordon recited, you know the business the boom and bust of 1819 and the 1929 and and they said and they pretty much said if only the Fed had more power this none of this would have happened and The reason I bring this up is is that you know There is this ideology of the Fed which is the Fed is the financier of the American Empire it's not the sole financier, but it always has been the financier of the American Empire and It has its defenders the defenders of the Empire have to defend the Fed without without this sorts of financing It would have been very difficult For for the American Empire to do many of the things it has done over the over the years One book that I read a while back on the history of the American income tax for example the author said Thank goodness. We've got the Fed and the income tax in the year 1913 Otherwise Americans could not have entered World War one and I thought well You know happy days are here again. We entered World War one wasn't that a wonderful thing? and so so I guess the point I want to make here is that you know there's this ideology of the Fed as a necessary institution for economic instability, but I think it's all a myth it's all it's all a myth and so my point of departure here is I'm going to invoke another Economist like me the late George Stigler and George Stigler won the Nobel Prize in economics sometime in the early 80s and I can recall when he was brought to the White House by President Reagan after winning the Nobel Prize He started criticizing Reagan's economic policies and they didn't actually have one of those canes But somebody rushed out and dragged him off the stage when he was doing that But one of the things Stigler was known for is he did many studies on the economics of government regulation the effects of government regulation and And one of the conclusions of a lot of these studies is that Stigler always used to say if you want to find out Who really benefits from government regulation of any sort? The place to start your investigation is to find out who lobbied for the regulation or the law If you're talking about a law who lobbied who wanted it and that doesn't prove conclusively the effects of this regulation or law But it's a pretty good place to start if you want to know and so I Think it's it's reasonable to assume that if you want to know who benefits who has always benefited from the Fed central banking Find out well who wanted it in the first place You know what was the argument for it and sometimes you have to sift through all the all the nonsense and the rhetoric To find this out But so I'm going to talk a little bit about the American case of the origins of central banking in America to explain well just who this institution really serves and it starts with a group of men in America At the early time of the country Who really wanted to bring the whole British mercantilist system to America the very system that they have just fought a revolution against? The attitude of people like Alexander Hamilton and his fellow Nationalists as they were called or federalists is what they were called Seems to me to be that it's a bad thing to be on the paying end of an empire where you're just you're just Cannon fodder and taxpayers, but it's a good thing to be the king So if you're the king if you're on the side of the tax collector That's good, and they wanted to bring this system to America. And so How are they going to do this? Murray Rothbard explained it in his little book called the mystery of banking And I think this is a perfect explanation of why these men wanted this institution This is what Rothbard said. He said they their aim was to reimpose in the new United States a system of Mercantilism and big government similar to that in Great Britain Against which the colonists had rebelled The object was to have a strong central government Particularly a strong president or king as chief executive Built up by high taxes and heavy public debt The strong government was to impose high tariffs to subsidize domestic manufacturers Develop a big Navy to open up and subsidize foreign markets for American exports and launch a massive system of Internal public works that roads and canals financed by government In short the United States was to have a British system without Great Britain the same thing That's why my my latest book Hamilton's Curse the subtitle is how Jefferson's arch enemy betrayed the American Revolution They had just fought a revolution against this and Hamilton's political enemies said this Are you crazy? We just fought a revolution against this system. Why would we want to impose it on ourselves and A big mover and shaker in this a political mover and shaker was the a man named Robert Morris Who was one of the financiers of the American Revolution? He pledged his own personal credit To borrow money to help finance a revolution and he was very revered by George Washington and other the American founders and But Rothbard calls but he was a schemer And Rothbard calls it the Morris scheme was quote to organize and had a central bank To provide cheap credit and expanded money for himself and his allies The first bank the very first government bank was called the Bank of North America And it was it was quote deliberately modeled after the Bank of England And this bank was given a monopoly in currency issue But it became so untrustworthy people didn't trust The currency the value of the currency and the currency became so devalued that it was privatized Eventually, but the nationalists never gave up on their dream of having a bank run by politicians out of the nation's capital That could finance subsidies to them and to open up foreign markets and finance a Navy and big government and so forth And so what did they do they they they worked in politics? They got Morris got his protege Alexander Hamilton the job of Treasury Secretary Now probably the most famous contemporary Biography of Hamilton is one by an author named Ron Cherno and and he explains how Hamilton got the job of Treasury Secretary And he explains how Hamilton really knew very little or nothing about finance And if the war was still going on at the end of the Revolutionary War Hamilton was thinking well, what am I going to do after the war? He was he was one of George Washington's aides as a very young man And so he figured he should contact Robert Morris for a job Robert Morris was the big money man in America. That's you know, why not start at the start of the top That's like, you know young college senior saying what should I do? I'll give Bill Gates a call See what should I do after I get out of school and so he didn't know anything about economics and finance But he knew of someone who did he knew that senator Timothy Pickering who would become later become a senator Who was also who was George Washington's adjutant general He he was known to know something about economics and finance So he asked Pickering Timothy Pickering from Massachusetts to give him some things to read so he could learn something about economics What she did so he wrote Robert Morris a 30 page letter Essentially saying mr. Morris. I agree with everything you say on the subject of economics I think we need a Central bank run by politicians. We need high tariffs and we need government subsidies for roads and canals and And and and he was George Washington's aid And so this must have been like a goldmine dropping in the lap of Robert Morris Here's a close personal aid to George Washington who was going to become president Contacting him pretty much saying I will be your puppet in the nation's capital Which he was and it was the the way he got the job was Morris wrote George Washington And recommended him for the job of treasury secretary and according to churno in his book George Washington turned to Hamilton and said I didn't know you knew anything about finance. We never talked about it But if Robert Morris once once you in the job, you got the job So so he did get the job and one of the first things Hamilton did Is to start lobbying to overthrow the constitution that americans had it was called the articles of confederation And so and the u.s constitution Replace that so the americans essentially seceded from their first constitution And but Hamilton at the constitutional convention where they worked out this constitution Hamilton laid out his plan, which was really Morris's plan. It was a permanent president You could call it a king who would appoint all the governors of all the states Who had who would have the power to veto all state legislation? So in other words, there'd be a monopoly power in the executive and in the president who would be more or less a king And this was always tied to this economic agenda. They wanted to have essentially a dictator Who would impose? Central bank to finance subsidies to businesses like morris's businesses High protective tariffs on to keep foreign competition out and a big public debt to fuel the growth of government So this it wasn't just power for the sake of power There's power for the sake of economic grandisement of the people in power Mercantilism it was the british system And so, uh, of course, he didn't succeed at that. They only got part of what they wanted in terms of more centralized government and again Murray Rothbard explains exactly what was going on here. I'll quote him again He said a critical part of this program Was put through in 1791 by their leader secretary of the treasury alexander hamilton a disciple of robert morris Hamilton put through congress the first bank of the united states Modeled after the old bank of north america whose longtime president and former partner of robert morris Thomas willing of philadelphia Was made president of the new bank So morris's business partner was made the president of this this new bank and there was a debate george washington asked Uh, jefferson thomas jefferson and hamilton to make the case for and against The bank and uh jefferson made his case against it And this is what still bugs to this day people like, uh, john steele gordon And uh, it came down to uh for the lawyers in the audience might like this I think it's boring as can be but it came down to the necessary and proper clause of the u.s. Constitution where, uh, You know the government has the right to all the all the delegated powers of the federal government in us Uh, the necessary and proper clause allows the government to do what's necessary and proper to carry these things out Hamilton said well, it's necessary for us to have a central bank Uh jefferson said no, it's just convenient. He said we have banks. We don't need a special bank to put the tax dollars in We have banks Uh, we don't want a government a bank run by politicians out of the nation's capital like like the bank of england and uh, hamilton didn't really win the argument what happened was George washington owned a lot of land in virginia Near where washington dc is mount vernan And uh, he had been wanting the nation's capital washington dc To extend right up adjacent to his property But the current plan was that it would be three miles away And so in return for extending the boundary of washington dc to to abut George washington's property George washington signed the legislation creating the bank of the united states So it was just old-fashioned pork barrel politics or you know log rolling whatever you want to call it They gave us the first despite all these long-winded Papers written by jefferson hamilton and others it all came down to politics of how we got this bank And so what did the bank do? Well, uh, i'll quote i'll quote rothbart again uh They of course began immediately issuing paper money Uh, he said it issued millions of dollars in paper money and demand deposits Pyramidding On top of two million dollars in species The bank invested heavily in u.s. Government debt The result of the outpouring of credit and paper money by this new bank of the united states Was an increase in prices of 72 percent from 1791 to 1796 so it immediately created huge inflation and this bank had a Had a 20-year charter so it was to end after 20 years And which it did it was uh eventually Snuffed out but uh and but to this day the american apologists for central banking when they study this history to talk about it Most historians that i know of will say things like jefferson Was an agrarian he didn't understand banks and he was actually opposed to banking And so they make him sound like a buffoon. He was you know, he was an ignorant economic buffoon You know, he's opposed to banks in general But once again rothbart sets it straight and he wasn't opposed to banks in period period He was he was suspicious of bankers, you know, who wouldn't be in this day and age He's suspicious of bankers, but uh, but he was what he was opposed to was a government run bank government controlled banking As far as that goes And so and there were other americans who were very uh suspicious of this john taylor was a senator from virginia He said what was it that drove our forefathers to this country? Was it not the ecclesiastical core and perpetual monopolies of england and scotland? Shall we suffer the same evils in this country? So they saw this as A threat to the very principles of the american revolution Now the bank was revived this the the bank of the united states became the second bank of the united states After the the war of 1812 it started up again in 1817 And murray rothbart's dissertation doctoral dissertation at columbia Many many years ago wasn't it was on the panic of 1819 What a coincidence the bank goes back into business in 1817 and two years later. There's a panic And and he makes the case that there was cause and a cause and effect here And there's a great little book by uh, james j. Kilpatrick an american journalist called the sovereign states that talks about this and he says That the effect of this was the bank of the united states ran into grave difficulties through mismanagement Speculation and fraud Consequently there was a wave of hostility toward the bank Of the united states that swept the country And this eventually led to the the demise of the second bank of the united states Not only did a lot of people think it was creating economic instability Uh and inflation but political corruption The money a lot of the monies were were literally used to finance the political campaigns of supporters of the bank And of the whole nationalist agenda and to criticize the opponents like, uh, president andrew jackson And uh some of the states hated this bank so much to the state of ohio for example When when two branches of this bank of the united states and the the precursor of the fed opened up in ohio They imposed a 50 50 thousand dollar a year tax on each branch and this was in the 1820s and so uh And the idea was to tax it out of existence And the bank of the united states refused to pay so the state of ohio sent armed marshals to the bank with a big chest And and they and they went they went into the vault collected a hundred thousand dollars and left And so they took it and other states did similar things. They were in my book I quote the state legislatures in connecticut and elsewhere in america as as condemning this bank And it ultimately came down to a big confrontation with president andrew jackson who Vetoed the legislation that would have rechartered the bank For another 20 years. So the bank sort of Faded away in the early 18 1840s And so uh, and so they're so the good guys won in my opinion Although they never give up the bad guys never give up Uh Another claim that uh john steele gordon made they're still out there john steele gordon. He said this Uh, it was resurrected during the american civil war the central banking was the bank of the united states was not but there were national currency acts That led to a much greater centralization of the monetary authority in the united states And uh john steele gordon the man i mentioned at the beginning he praises this he says the civil war ended monetary chaos And uh, I also quote some some pretty well known economic historians like jeff hummel and Richard timberlake is saying that this period from 1840 to 1862 or 63 was not perfect But they make they both make the case that this was probably the most stable monetary system america ever had in that period And i think they make a pretty pretty good case That it was pretty good, but what about this claim that the civil war ended monetary chaos That's that's what uh, gordon said in in the wall street journal several months ago Well, there's a book a scholarly book edited by claudia golden who's an economic historian in the united states. She's very well known Uh, she's a university of chicago graduate. The book is called strategic factors and 19th century american economic growth And they looked at this same the post civil war era central banking regime And they said it was uh, quote characterized by monetary and cyclical instability for banking panics Frequent stock market crashes and other financial disturbances In quote and that's what gordon says was an end to monetary chaos And so It's not exactly right. I don't think and so So this is this is sort of the struggle that these uh, these these mercantilists or neo mercantilists have always wanted a central bank to fund a mercantilist empire And time and time again, what did it do? It created economics instability political corruption Uh and so forth, but they never gave up. They never gave up and one of the things I like to do is I have a couple of quotes here To give you an idea of the the sort of flavor of this debate When when andrew jackson the american president Vito the rechartering of the bank he made a statement And uh, and roth part points out that jackson has gone down in history as sort of a he was from tennessee A southern state and he's in a lot of his story as portray him as a country bumpkin Today, we would call him a redneck Which maybe he was I don't know. Maybe if he were alive today, he would probably Chew chew lots of tobacco and go to nascar races or something like that But uh, but he wrote some things he did some good things and some bad things But there's one statement that he or whoever his assistants were who wrote was a very eloquent statement of why he opposed the bank So I'd like to take a minute to read it. So this is president andrew jackson And why we don't need a central bank It is to be regarded regretted that the rich and powerful too often bend the acts of government to their selfish purposes Distinctions in society will always exist under every just government Equality of talents of education or of wealth cannot be produced by human institutions But every man is equally entitled to protection by law But when the laws undertake to add to these natural and just advantages Artificial distinctions to grant titles gratuities and exclusive privileges To make the rich richer and the potent more powerful The humble members of society who have neither the time nor the means of securing Like favors to themselves that is by the from the government Have a right to complain of the injustice of their government If government would confine itself to equal protection of the laws It would be an unqualified blessing In the act before me that is the chartering of the bank of the united states There seems to be a wide and unnecessary departure from these just principles And so that was his statement of his veto statement And I dug up I did a little digging to find out well What are some of the historians the american historians saying about this statement that jackson made And one one of my favorite historical biographers isn't a man named robert remony And he says that Historians call this statement quote beneath contempt So that's beneath contents. It's an outrage that you should be condemned for saying such things out there And so this this was revived central banking become much more centralized in america during the american civil war in the 1860s And i'd like you to read to you a statement by the famous newspaper man of the time named horris greely Of what he saw as the meaning of this resuscitation of central banking When they passed the national currency acts in the 1860s he said the purpose of this major Is to institute such a connection between the public credit and the banking interest And shall on the one hand give the president Virtual control of all the banks in the country And on the other make every stockholder and banknote holder in the land an underwriter So to speak of the government bonds effectively harmonizing the interests of both government and the people and quote And a little background on this idea of harmonizing interests of bondholders and the people that was hamilton's idea The reason he gave for a large public debt He believes that The bondholders people who own government bonds will be mostly the more affluent or wealthy people of the country They would therefore have an incentive To lobby for and promote higher taxes and bigger government to make sure there was enough money in the treasury to pay off their bonds And so horris greely here many years later 70 some years later is saying we have achieved that with the national currency acts That that was his rationale A senator an influential senator of the time senator john sherman the brother of the famous general sherman He said as a result of this this the revival of central banking A powerful national government and an internationally dominant american nation would arise So that's the american empire In other words the new york times said Commented on the lincoln regime's nationalized banking and said it it quote crystallized a centralization of power Such as hamilton might have eulogized as magnificence And of course it did what central banking always does uh The greenbacks the currency at the time Depreciated to a value of only 35 cents worth of gold in about a year and a half During that during that time so it created there was a war going on and it created massive inflation During the war and so and of course the final centralization of the money the money supply came with the fed in 1913 And so and ever since then what have we gotten perpetual boom and bust cycles Created by the fed Most importantly it adds to what what it cost some economists call fiscal illusion Uh, a good example of this is when the vietnam war was financed largely by the printing of money which created inflation price inflation Later, uh, it reduces the perceived cost of war Because if you if if linden johnson were to say well, we're going to have to impose a tax of 10 000 per family to finance this war in vietnam there would have been a lot more protest against that war Than than there already was but if they can just simply print money which creates inflation two three four years later Uh, well, then that that sort of eliminates the perceived cost of government including the government's wars Debt does the same thing public debt financed by money creation And it's called fiscal illusion and then once once that occurs once the government creates all this inflation Since most citizens are economically ignorant It is very easy for the government to go out there and blame it all on capitalism After all who's charging all these high prices? It's the capitalists. It's the business people And that's exactly what's happening today in america and around the world the fed has created this disaster this depression that we're they were now in And every branch of the federal government seems is day in and day out Condemning capitalism and free markets as the cause and this is a very old story They've always done this they've a government has always created these problems and then blamed it on on the free market Uh, I wrote a short book about it called how capitalism saved america some years ago precisely for this reason that that americans have been taught mostly to to Endorse the destruction of the source of their own prosperity In this way and hopefully people around the rest of the world won't won't fall for this But but that's that's who stands to benefit as the beneficiaries of the american empire The business elites and certainly the banking elites And of course when we saw the u.s. Government give a trillion dollars to wall street investment bankers I would think that that should once and for all explain it to everyone Who the fed and who the u.s. Government really is really working for Despite all the rhetoric about the economic stability and and and so forth. That's the rationale for the fed That seems to me that's that's the real the real purpose of it and my time is about up. Thank you very much