Hi everyone, my name is Giovanni and today we're gonna talk about a big problem in the crypto space, fake trading volumes. Last week, index fund provider Bitwise claimed that about 95% of Bitcoin exchange trading volume listed on CoinMarketCap.com is actually fake. That means that out of the $11 billion reported volume on CoinMarketCap, only around $270 million is real. Apparently, a number of unregulated or poorly regulated exchanges have been faking their volumes so to appear high in the rankings. Attract more traders on their platform and charge high fees to customers who want to list their coins on the exchanges. Just to remind you, CoinMarketCap is among the 500 top visited websites in the world and that's why it has a huge impact on the market and on traders' decisions. So no wonder CoinMarketCap has been criticized for failing to list exchanges that are suspected of washed trading and market manipulation. The good thing is that this time CoinMarketCap acknowledged the problem and announced it will implement some new features in order to improve transparency on their website. We asked CoinMarketCap what measures will be taken exactly and they replied in an email saying that the best way to mitigate the issue is to over-provide on data and let users make their own informed choices about what to do with that data. Among the additional information that they plan to integrate will be liquidity measures, cold and hot wallet balances and traffic data. So the fake volume report published by Bitwise shows similar results to previous ones, like the one published by Crypto Integrity and Crypto Trading Platform, the TAI. We reached out to Joshua Frank, co-founder at the TAI, and asked him about their own report on fake volumes. So Joshua, can you tell us a bit about the methodology you use to detect fake trading? Yeah, I think that generally the conclusions that everybody came to were pretty similar. I think it was a lot of the same exchanges. So if you take, for example, our methodology, which was really looking at exchanges reported trading volume versus website viewership from a company called SimilarWeb, the original purpose of the research was actually an internal project that we were doing. We were working on refining our pricing feed and our site. And when we were doing that, we were thinking internally, hey, how do we make sure that we're only showing prices on exchanges that have liquidity? So when we began doing it, we just made our own internal spreadsheet and we were like, what is the best way to identify whether or not an exchange has liquidity? And we were like a pretty quick way to do it is to just compare the viewership that some of these sites have versus what they're reporting as their trading volume. And what we found very quickly was it just didn't make any sense. So for example, some of these exchanges, for each view they had, were reporting $50 in trading volume while others were reporting $400,000 in trading volume. And we were very quickly just like, this just doesn't make sense, right? How could it be that one exchange has $50 in volume per every user that comes to the site, another one has $400,000 in volume? So we basically just made it into an Excel spreadsheet, moved it to Google Drives that other people could have access to it, and decided to make all the data available so that people could draw their own conclusions. One example or something that we did was we took the weighted average trading volume between some of the major exchanges and some of the exchanges that we identified as being real players in the market and basically created that as a basis for comparing other exchanges. And we found that between those exchanges, there were $500 in some dollars in trading volume averaging out per website visit and use that as kind of a comparable for the other exchanges. And as a result, we found that about 87% of volume seemed to potentially be suspicious or inflated, and that really kind of coincided with a lot of the research that other places have done. And what I found is a lot of the exchanges actually want to be more transparent with us, and they want us to kind of verify or validate that what they're doing is real, which is something that's been interesting as well as kind of a validation that a lot of what we reported out is kind of real because a lot of the exchanges that we said had more suspect or questionable volume haven't been reaching out in the same capacity at all. Ah, that's interesting. So what would be your tips to help traders detect fake trading volumes? One interesting way to do it just as a start is we put out a free Google Sheet, which you can track on our Twitter account. It's available there. And that shows just the website viewership compared to trading volume. And I think it's a good starting place, right? If you see it in exchange, that's reporting $400,000 in trading volume per view. It's probably not occurring. That's probably not real. That's an interesting way to do it. Also, look at the trade history. If you see that the trade history is 3, 4, 5, 6, 7 Bitcoin being traded at a time, that's not happening. People aren't... The average trade size on a lot of these exchanges isn't $20,000, $30,000 a trade. Go look at an order book of an exchange that you think is real, an exchange that we identified not having suspect volume. You'll see that a lot of the trade sizes are 0.1, 0.2, Bitcoin, or whatever the trading pair is. They're much smaller. They're different. That's a good way to look at it. Thank you, Joshua. Actually, not all exchanges have dubious volumes. The reports pointed to a number of regulated exchanges that proved to be clean. One of them is Binance, among the biggest exchanges in the world. We reached out to CZ, CEO at Binance, to ask him what he thinks of this issue. So, CZ, what do you think is the main takeaway we can get from these reports? From our perspective, I think most of the same conclusions you saw was that the Binance trading volume is very solid. It's very real. So, I think basically in the industry, the more reports like this, the better. The more transparency, the more data there is, the better. It's not so much CoinMarketCap's fault, but everyone tries to blame on them. But CoinMarketCap is a very simple reporting mechanism where every exchange reports their own data to them and they just show it. On Twitter, some people blamed you for not taking a strong enough stance on this issue. What role, if any, should Binance play in all this? I think we do have a role to play, but I don't like the way people assume how we should behave and not behave. Especially, people assume that we should have a fight with CoinMarketCap on Twitter. That's just not what we do. So, we do work very closely with the CoinMarketCap guys and we know the team quite well. And we collectively all want to solve this issue. It's not like we're not working on it. But just calling and saying, like, hey, I think you should work a bit harder and you should pick a fight with these other guys, with your friends on Twitter. I mean, that's kind of childish. So, I don't like that. But I think in general, we do have a role to play. And number one, I think as all the reports have shown, Binance is a very solid volume exchange. So, number one, we don't exhibit any bad behaviors. We do try to encourage transparency in the industry. One of the other things we cannot really do very well is as an exchange, we can't really be attacking the other exchanges. I think that's actually negative for the industry overall. So, in your opinion, how can CoinMarketCap solve this issue? We give a number of people a number of ideas. For example, most exchanges depend on CoinMarketCap to give them referral traffic to a very large extent. And if they have any penalties by, say, for example, delisting the exchange from their site for a period of time, I think that would have a lot of pressure on the exchanges. But whether to do it or not and how they would do it is really up to them. Because a lot of the concepts are very simple, but when you actually come down to implementations, it's actually very tricky. It's the same thing. Like when we delist a project from our trading site, the projects fight back and they will go on social media, complain and raise a bunch of... So it hurts both ways. So it's not a simple problem to solve, but I think as an industry, we do need to work hard to solve this problem, which is to increase transparency, have real data, real volumes, etc. Thanks a lot, Sizi. We also hope that with more and more legit players like Binance taking the lead, the crypto space will become more transparent and safer for everyone. So guys, what do you think? How much responsibility should CoinMarketCap take for fake trading volumes? Let us know in the comments. Thanks for watching and don't forget to subscribe to our channel for more exclusive content.


The Kraft Foods Company presents Harold Perry as the Great Gilder Sleeve. Yes! Would you like something new for the new year? Well, then start the year right by getting acquainted with the latest addition of the Kraft family of fine cheese. K-brand natural cheese. It's a mellow, delicious cheddar you're going to enjoy as a special trait in the coming year. Listen for more about K-brand cheese later. Now let's see what's going on in Summerfield. As water commissioner, the Great Gilder Sleeve may not have been a ball of fire during the year, but on this last day of December he's winding things up in a blaze of glory. Bessie! Bessie, you have those reports filed away? Oh, yes, sir, Mr. Gilder Sleeve, and all those old letters you had in your desk, too. They took up two whole cabinets. Well, we don't mind a little work, Bessie, just so we've cleared the desk for 48. Oh, we did, and I clearly marked both cabinets. Unfinished business of 1947. But last year we only had one cabinet full of unfinished business left over. Business is getting better, isn't it, Mr. Gilder Sleeve? Let's hope that's the explanation, Bessie. But it's all over for this year, now we can relax. What time is it? Only two o'clock. Should I get my pad and pencil? Bessie, it's December 31st. Doesn't that mean anything to you? Oh, yes, sir. What? Gosh, I don't know. I guess you caught me in a fib, Mr. Gilder Sleeve. It means it's the last day of the year, Bessie. Let's close up the office. Besides, I have some arrangements to make for New Year's Eve. You mean all those parties, Mr. Gilder Sleeve? You certainly were invited to a lot of them. Well, yes I was. New Year's parties are such fun. When it's 12 o'clock, you say, Happy New Year, and then kiss everybody. Yes, you have the general idea, Bessie. See, I'll stop in at Doris's at 9, Eve's at 9.30, pay a call on the Bagley sisters at 10, and be back at Doris's by 11. She invited me twice. But you can't celebrate until midnight, Mr. Gilder Sleeve. Well, they all have radios, Bessie. I'll find New Year someplace. I bet you could turn on that portable there and find their celebrating right now in Calcutta or someplace. Oh, Mr. Gilder Sleeve, do you really think so? I was only making a point, Bessie. The time changes around the world. Now run on home and have a Happy New Year. The office is closed. Thank you, sir. And Mr. Gilder Sleeve, you've been very nice to me this year. You've been a pretty good secretary. I have, Mr. Gilder Sleeve. Oh, Mr. Gilder Sleeve. Happy New Year. Happy New Year. Bessie, it's still early. It's Happy New Year in Calcutta. You said so. Yes. Happy New Year wasn't even on. Oh, Mr. Gilder Sleeve. Well, you might make me a little sandwich, Peavey. Just kind of tied me over. And a cup of coffee first. Hot.  Been working with you, Mr. Gilder Sleeve. Bessie and I just cleaned up a little unfinished business in 1947. So I see. Care for a facial tissue to clean up a little more? Oh, thanks, Peavey. Bessie was celebrating New Year's Eve. Said I was a good employer to her all year and... Well, what's wrong with a little token of affection on New Year's? Besides, she kissed me. Good for Bessie. I don't imagine many women could have gotten away with it. Well, I won't have any trouble tonight, Peavey. I'm going to three parties. Three parties? You bet. I'm going to try and kiss every pretty girl in town. Mr. Gilder Sleeve, you don't suppose you're taking this atom bomb talk too seriously, do you? It's New Year's Eve, Peavey. Time to ring out the old and ring in the new. How about you? You're not going to work tonight, are you? Oh, no, Mr. Gilder Sleeve. Mrs. Peavey likes to spend New Year's Eve at home. What kind of sandwich was that? Maybe the cheese on rye. Okay, brand-natural on rye, coming up. Good coffee, Mrs. Peavey. Thank you. Would you care for a little sliver of ham on this sandwich, don't you? Well, all right. New Year's Eve is quite an occasion with Mrs. Peavey. She always prepares something special for dinner and... May I name it? Yeah, just a dab. Then we do the dishes and go into the living room and talk about things. Mrs. Peavey always likes to talk about things on New Year's Eve. Yes. Well, yes. Long toward 10 o'clock, we may play a game of cribbage that kills an hour. Think I'll slip in a little slice of ox tongue if you don't mind. Easy, Peavey. Then around 11 o'clock, we get out the horns and wait. Well, that sounds like a good way for you to greet the New Year. I guess so, Mr. Gilder Sleeve. At least by 12 o'clock, I'm awfully glad to see it come. Yes, but how about the sandwich? Oh, you care for this little pickle nub in it, too? Peavey, how much is all this going to cost? Oh, no extra charge to you, Mr. Gilder Sleeve. At the end of the year, I have unfinished business to clean up back here, too. What? How about a little turkey wing? No thanks, Peavey. Just give me the cheese that I ordered in the beginning. Just as you say, Mr. Gilder Sleeve. I never wanted to give you a little stern stuff. There you are. Cheese on rye. Thanks, Peavey. Hi, Commissioner Peave. What's up? Well, hello, Floyd. Hi, Floyd. I was just going to come over and pay you a visit.  Okay, I'm going back to shop soon to make a purchase off the Peave. Guess I'd be going out among them tonight, too, if it wasn't for Lovie in bed with the cold. Well, well, too bad for him. Yeah, so I think I'd better stay home and look after her. She thinks so, too. Well, I'll be making the rounds tonight. Private parties. Yeah, that's a good way to save money. But be careful, Commissioner. They say more colds are caught from exposure to mistletoe than from wet feet. Quite a lot of flu around, too. Yeah, don't worry about me.  I'll have my fun. Yeah, you lucky stiff. Give me a paper hat for Lovie, Peave. Once you will knock off in bed. Very well, Floyd. And something for the cold. Got an old Indian remedy, Peave. One hot teaspoon to the patient, every two to the doctor, and a happy new year to everybody. How much is this hat, man?  Oh, well, I'll take this one with the extra feather. There you are. Hey, the judge was in. Mentioned something about getting together at the Jolly Boys tonight, but I told him to count me out. You fellas, too, huh? The Jolly Boys? That would be Judge Hooker's idea.  I wouldn't say that. I can think of duller places. And perhaps the judge doesn't have any other place to go. Yeah, he's kind of alone in the world at that. I'd ask him over to our house, but I can't with Lovie on the blink. Well, he could come over and celebrate with Mrs. Peave and me. Of course, I'd have to put out some feelers first. Hey.  Floyd. He don't have a happy home to stick to like the Peave and me. Just a housekeeper and four walls. Well, that's his concern. Well, you wouldn't want to be all alone on New Year's Eve, would you? Well, now, Floyd. He's really very fond of you, Mr. Jones. Yeah, you've known him longer than any of us. It's up to the judge to get invited to his own parties. He has to make his little contacts throughout the year like I do. Okay, commissioner. That's the way you feel about it. On New Year's Eve. Well, I guess I'll get back to the shop. I'll be right over for that shave, Floyd. I may be busy. Happy New Year, Peavey. Happy New Year, Floyd. Happy New Year, Floyd. Floyd, happy New Year. Look, fellas, I'm not responsible for Hooker. The judge is a jolly boy, Annie. But... All for one, one for all. Like the song goes, should old acquaintance be forgot? All right, Floyd. All right. I'll take him along with me. Yee-god. That's the spirit, commissioner. Happy New Year. That's a very nice thing you're doing, Mr. Jones, Peave. Should old acquaintance... All right, Peavey. Happy New Year. I wonder where I'll find the old goat. I'll have with Hooker tagging along. The louder the party gets, the louder he talks. See, there's Chief Gates. Maybe he's on duty tonight, and the judge can go down and play pinocchio with him at the police station. Chief! Wait! Same to you, Chief. Have you heard about Judge Hooker? No. What happened? Well, nothing. But he's a fine fellow, Hooker. Fellow jolly boy, and uh-huh. Of course. I've always been very fond of the judge. The old fellow was a little at loose ends this evening, and at being New Year's Eve and all night. Oh, that's too bad. Come to think of it, the judge and I haven't played pinocchio together for quite some time. And I'd ask him over tonight, but I always drive over to Salinas on New Year's Eve to see him a mother. Well, if you don't have time for a fellow jolly boy... But, commissioner, I haven't missed a New Year's Eve with my mother in 20 years! That's all right! All right, I'll take him with me. Tell him to get his glad rags out, and maybe I can ditch him before the evening's over. His honor isn't home. His honor? Oh, you mean the judge? Who'd you think I meant? Yeah, well, Mrs. Fogel, I'm Mr. Gillespie. Remember? Yes, I remember. Well, when do you expect the old, uh, his honor? He went walking in the park about an hour ago. Walking in the park? Don't you hear good? Yes, I... What a housekeeper. No wonder Hooker's sad about staying home tonight. I'm not going to spend all afternoon looking for him. Driven through the park twice. Uh, there he is. Walking with his back to the wind. Feeling sorry for himself. Paulus! Paulus! What brings you out in the park?  It is getting chilly, but I think I'll take one more turn around Square. Get in, Hooker. You're too old to be romping around in the snow. I wasn't romping. I was thinking. Well, close the door and think inside. And have a tissue in the glove compartment. I have a handkerchief. Thank you. Oh, brother. I've been looking all over for you, Horace. I wanted to extend a little invitation to you. Well, as I say, I've been out thinking. Thinking about the future. Oh? What about the future? That's just what I ask myself. I ask myself, what about the future?  Judge out in the cold park thinking. Who do you think you are, Bernard Baruch? Well, it's very well for you to say, Gilday. You have a warm family circle to talk things out with this evening. And I must say, I envy you. That's the real way to spend New Year's Eve. Well... You see, I've been thinking about you too, Gilday. You have? Yes. And those two sweet children. How you must look forward to the joy of each New Year's Eve.  Yeah, but, Judge, when did you see Leroy last? Oh, that's right. I was carried back, I guess, to the time when, as probate judge, I turned those little children over to you. My, but you were proud. Well, yes, I was. And although you've been fat-headed and stubborn at times, a little negligent, I've never regretted doing it. Well, thanks, Judge. With each passing year, what a thrill it must be for you, a man whose life was once empty, like mine is, to hear them recite their accomplishments and then plan the course of the future and welcome the New Year all together. One family, all for one, and one for all. Now then, what is it you wanted to ask me, Gilday? Well, Floyd and Peavey told me you were at loose ends tonight, and I was wondering if you'd care to spend New Year's Eve with me. Where, Gilday? At home with you and the children? At home? Well, yes, in the bosom of my little family. Gilday, old friend, I'd be honored and delighted. I was afraid you would, you old goat. What? Nothing, Horace, since you got a beautiful coat. Well, at least I kissed Bessie happy New Year, way back in Calcutta. It won't be long before horns will blow, bells will ring and folks will gather round to sing out Old Lang Sign. Yes, in just a few hours, folks, in big towns and little towns, we'll welcome a bright and shining New Year. As the last of the bells ring out, every hostess' thoughts will swing quickly from good wishes for the New Year for the kitchen and the midnight lunch. If you've guessed tonight, I hope you've included plenty of K-brand natural cheese in your late lunch. K-brand is Kraft's modern cheese masterpiece, a delicious natural cheddar with a mellow, rich flavor, the tender texture that real cheese experts love. But this natural cheddar is made of pasteurized milk. You mean a natural cheese made of pasteurized milk? K-brand natural is. And furthermore, K-brand cheese has no rind because it ages right in its own spick-and-span wrapper. Then all of K-brand cheddar can be used? That's right. Every mellow bit of this natural cheese can be used for hearty sandwiches, for snacks, with pie. If you haven't already tried K-brand natural, you're in for a pleasant surprise in 48.  But get a good big portion for your family's going to have a new cheese favorite in 48. K-brand, the natural cheddar made of pasteurized milk. Now let's get back to the great Gilderslee. He's generously given up invitations to spend New Year's Eve with his favorite girlfriends in order to cheer the lonely life of his old friend, Judge Hooker. And the sacrifice has brought new gladness to his heart. Ah, beautiful snowfall. When it's springtime in the Rockies, I'll be coming back to... Uh-oh. There's that garden hose I forgot to put away last fall. Better disconnect it and store it right now. Might freeze again tonight. Already frozen. Oh, well, I'll be the first man on the block to have my garden hose out next spring. There's Leroy going around the house. Let me get some of this nice soft snow. I'll sneak up behind him and let him have it. Captain Timothy Gilderslee with a royal moutain always gets his man. I'll just peek around the corner and let that kid go. Hey, I put down behind you! What's the idea sneaking up on me from behind? Put down those snowballs. Suppose you've broken something. My watch. Put down those snowballs. Okay, you put down yours. You march in the house, young man, and take that sled off the steps. Leroy's first thing after New Year's, Bernie. Just pull the shade down for now. Leroy stuffed some paper in that window. I didn't like it. Well, you were the one who ducked. It'll keep out the wind and the snow. You'll all be cozy here in the living room tonight. Who'll be cozy? I thought we were all stepping out tonight. New Year's Eve. No, Bernie. We'll greet the new year right here at home. I've invited Judge Hooker over for dinner. The judge? Okay. So put the little pot in the big pot. Company. Okay, Mr. Gilderslee. And I better get going. Big night tonight. Oh, Bernie, will you please press this glass for me? I want to wear it tonight. Hello, Uncle Marty. Hello, my dear. Okay, Miss Margie, but I got things to do. The judge likes your cinnamon rolls, Bertie. They aren't too much trouble. Okay. Do the blouse first, please, Bertie. Okay. Don't forget to bake the rolls, Bertie. Okay, okay, okay. Judge coming over, cooked the dinner, pressed the blouse, baked the rolls. And me with a coal and a big party to go to. What we need around here is a two-day New Year's Eve. What's this about dinner, Uncle? I've invited the judge over, Margie, to spend a quiet evening with us. Quiet? Who wants to be quiet on New Year's? I'm going out. You're going out, too? Yeah. You're always whooping up on New Year's Eve. Never mind. I was going out, but the holiday season is the time to be unselfish and think about others. Isn't that what we did when we gave away all those good presents? This is different, young man. This is New Year's, and Judge Hooker is all alone in the world. Is that any reason for sitting up with him all night? Now, Margie, if you could have seen him this afternoon, wandering through the park in the snow, a lonely, forgotten old man, wearing a cape, you wouldn't begrudge him a few happy hours with us. I've given up a pleasant evening myself. By George, we'll make the sacrifice.  Well, this is a special occasion. Why not? More than a year. Oh, boy. Uncle, this isn't fair. I wanted to have fun tonight. In March, we will all start the New Year right. By doing as I say. Old gang is going over to France. Well, stay with us till the judge falls asleep, my dear, and then you can leave. Yes, sir. Hooker was right. Nothing like a happy New Year in the bosom of the little family. Leroy, open the door a little bit. It ain't stuffy in here. Okay. Why not pull out the paper I stuffed in the window? The door, Leroy. You a comfortable judge? Perfect, McGildy. This is an extremely joyous occasion to me. I said it before, and I'll say it again. Yes, yes. That was the most excellent dinner, Birdie, prepared. I must say I envy you in more ways than one, Gildy. You're lucky having a cook like Birdie. Well, you got Mrs. Fogel. Yes, I have. Marjorie, you're unusually quiet this evening. I don't mean to be judged. I was just thinking. Well, there's no more pitting time for communion with oneself than at the close of a year. Not many girls your age are spending New Year's Eve in quiet reflection, I imagine. I imagine not. That's only 11 o'clock. Turn on the radio, Leroy. Let's hear a celebration somewhere. Oh, boy, now what? You really think it's a very peppery party? And as I said before... Don't say it again, judge. Please. Listen to the radio. Ladies and gentlemen, this is the biggest, proudest, daniest New Year celebration this city has seen in a decade. Just listen to the crowd. Oh, boy, where is it? As the clock struck 12, it seemed that every boy here was kissing his girl. I wonder what Doris and Eve were doing. What did you say, Al? Never mind, Leroy. What did you say? Listen to my rule. Now, Leroy, we're all staying up with the judge. Yeah, but what's that a do? You know, it just occurred to me, Gildy. I wish I'd thought of it before. It would have been just the thing for this evening. Oh, it's a judge. I missed a golden opportunity. Why didn't I think to bring my stereoscope with the slides of Yellowstone National Park? Oh, those. Yeah. Oh, brother. The children always enjoyed them, Gildy. Yes. Well, under the circumstances, why don't we just sit and talk? What do we talk about? Now, Marge, you should be able to think of something. Why don't you open the conversation? Me? Yes, Marge. What's happening in the younger set? Well, they're having a party right now. Would anyone care for some hot chocolate? I just made a park. Yeah, a little early for that, isn't it, Birdie? Not for me. We'll get to you, young man. Judge, how about you? Not for me yet, Birdie. I'm still pulled from your delightful dinner. Thanks, just saying. None for me, Birdie, thanks. Marge? I may as well. But Uncle is getting awfully late. Yeah, well, drink your chocolate, and then you may go. It's cold out. I'll leave the park here for whoever wants it. I'm off to my party. I don't mind missing some of the build-up, but I don't want to miss none of that golf. Yeah. But, Birdie, what about our sandwiches? Mr. Gill's leave when you open the refrigerator door at midnight. There they'll be. Oh? Happy New Year, everybody. Happy New Year. Well, that smells good. I might just have some at that. Will you pour, Margaret? All right, Judge. There's nothing like spending New Year's Eve in the bosom of a family ghillie. No idea how glad I am that I turned down those other parties in favor of yours. What's this, Judge? What are the parties?  Doris, Dowrymple's, Miss Goodwin's, Meritor, Williger's. What? I even got an invitation from the Bagley sisters. You mean you kept me home when you could have gone to all those other parties? Yes, but New Year's Eve is the time to be close to your bosom friends. Don't you think so, old friend? You bet, and I'm going out and say Happy New Year to some of them right now. See you next year, bosom friend. Order 12. Still time to wish Doris, Dowrymple, Happy New Year. Maybe Eve, too. Hey, somebody's having a party over Floyd's barbershop. The Jolly Boys Club. Now, who'd be up there? It'll only take a minute to find out. And Commissioner Gilda's leave. I had a mission just in time. Floyd, I thought Lovey was sick. Well, I had to step out to get her some cork syrup. I thought you Jolly Boys were all staying home tonight.  Oh, no, I wouldn't say that. Peebie, you old rascal, how'd you get away from Mrs. Peebie? Well, it seems Mrs. Peebie is a little behind the times. She thinks New Year's Eve is tomorrow night. Oh, my goodness. How long you guys been here?  I do, Mr. Gilda's leave, but tonight the blizzard blocked the road. First New Year's I've missed spending with my mother in 20 years. That's tough, Chief. Hey, Commissioner, come on over to the corner and have a coke. Coke? Well, just one. Maybe I'll have another one with you. New Year's Eve. Well, good evening, gentlemen. Hey, gang, it's the judge. Judge, you're like a bad penny. How'd you find me? That was easy, Gilda. After I put Lee Roy to bed, I followed some peculiar tracks in the snow. Nobody else walks like a steamroller. Why, you old goat? I'm glad you left so I could. I was never so bored in all my life. Now, see here. All of us fellas, it's New Year's Eve. We're all jolly boys. Yeah, hey, listen, it's midnight. Let's have a song. Till the Quinten's be forgotten. Well, not a bad idea. I killed the old friend. Great idea, Judge. Old friend. Catch it as it comes by. Who wants to go out with girls? When your hearts and doors are open wide to celebrate the new year, I hope you've planned a cheese tray for your guests. It's such a warm and friendly way to say welcome. Now, we hope you've seen to it that your cheese tray offers K-brand cheese. You see, K-brand is a natural cheddar with a mellow, rich flavor that's simply wonderful eating. And it's made from pasteurized milk. That's right. A natural cheese made from carefully pasteurized milk. K-brand cheese ages right in its own spick-and-span wrapper. It has no rind, so every bit of its rich goodness is usable for holiday good eating. The next time you shop, have your dealer cut a portion for you from the big wrapped bar with the words, K-brand natural, marked down the top and sides. Remember, this is the natural cheddar made of pasteurized milk. Remember, K-brand natural cheese. Thanks for bringing me home, Judge. Not at all, Gilday. Happy New Year. Happy New Year, Horace. Fine fellow, Horace. Yes, sir. I always like him better when I hear how badly he sings. Hi, George. Nothing like spending an evening with the jolly boys. Well, I see Marjorie's home. Light on in the window. There's the one I broke. Well, I'll fix it the morning. Start the New Year right. Keep things warm and snug for the little family. Yes, sir, in ours will be a harmonious little household. I'll be a better uncle in 1948. I'll speak a crossword to Leroy... I told Leroy to move that sled off his porch. Leroy... Go back to bed. Call a little fellow out the first day of 1948. Folks, before I go in, I'd like to wish the best New Year ever to all of you from all of us. Marjorie, little Leroy, Bertie, and all the rest of our friends here in Summerfield. Tonight's writers, John Elliott and Andy White, our other writing team, Jean Stone and Jack Robinson, our musical director, Jack Meakin, and our dialogue director, Fran Van Hardis-Velk, wish you the same. And from our sponsor, the Kraft Foods Company, a very special wish for your health and happiness in 1948. Good night. I'm Bushed. No, you're not. You're Harold Perry. Happy New Year. This is NBC, the national broadcasting company.


Jerry, that's Ferox. Wait a second. Yeah, yes, have them confirm delivery of both of them. Yes, sir, will you be in the hotel? Yes, I'll be in the dining room for dinner, and if I'm not going to be in the hotel later, I'll leave word with the clerk where I'll be. Yes, sir, thank you, Mr. Randall. OK. Mr. Randall? Oh, all right, I'll be right in, as soon as my young guests arrive. Yes, sir. Oh, no, Jerry, over here. Ah, gee, this is your surprise, Mr. Randall. I should say it is, sir. We haven't eaten anywhere except the mess hall and Max since I came to Ferox. Well, I thought it might be a nice change for you. Oh, it sure is. Golly, it's like old times with the circus, isn't it? Yeah. Well, are you lads ready for dinner? Oh, yes, sir. All right, come along into the dining room. Gee, this is a nice hotel. I've never been in here before, have you, Lee? Oh, just once, when Uncle Ross and Mrs. Thor brought me up here to Ferox. Oh, yeah. Say, Mr. Randall, there are a lot of people here, aren't there? What a few, son, yeah. I wonder what they're all doing in Ferox. Well, I think most of them are traveling people, Jerry. You know, salesmen. Oh, yeah, sure.  This is probably one of their best stops. All right here, Mr. Randall. Here's your table. All right, thanks, Bill. Come along, boys. All right. A menu, sir? Yeah, yeah. Well, let's see. Well, what are you boys going to have? Well, I think I'll have, uh, what are you going to have, Lee? Uh, well, I don't know yet, Jerry. How would you like to have me order for you, boys? Oh, yes, well. All right, and we'll have the vegetable soup, chef's salad, and filet mignon. How do you like your steaks, boys? Lee? Oh, just medium, I guess, sir. I'll take mine the same, please. That's all right for me, too. Bake potatoes, spinach. Well, uh. Jerry, you'll take spinach and like it. Well, OK. Milk, boys. Please, sir. And I'll have some coffee later. We'll decide on the desserts later, too. Yes, sir. Thank you. Well, Lee, I got the telegram off to Mr. Thorpe. Oh, thank you, sir. I'm sure he'll give his permission for you to join Jerry and Bruce during vacation time, even though you'll have to go on to Mapleton afterward instead of coming back to Faroaks. Yes, sir. You don't look forward very much to leaving the academy, do you, son? No, sir, I certainly don't. Well, Lee, may seem a little peculiar to you that I came up here to Faroaks two days before the midterm exercises. Well, sir, I just thought you were taking a little extra vacation yourself. Yes, I know that's what I told you, but that wasn't it at all. Oh? No. Yesterday afternoon, I received a long distance telephone call from your roommate here. Will you call Mr. Randall and ask him to come up early, Jerry? Yeah, Lee, I did. See, Lee, Jerry had something on his mind that he wanted to ask me before the end of the term. Well, there were really two things, Mr. Randall. Yeah, yeah, there's two. Well, Lee already knows the first one. Now, about the invitation to spend vacation with him at Circus One, of course, sir. That's right, that's right. But, well, the second idea that could that Jerry Duggan cook up is really quite a bit more important than the first one, Lee. Oh, is that so, sir? Yeah, quite a bit more important. Jerry, why don't you tell Lee what it is right now? Oh, right now, huh? I think this is as good a time as any, don't you? Well, sir, I thought you were, I mean... Oh, you want me to tell Lee, is that it? Yes, sir. No, son, that's your idea, and I think you should tell Lee about it. Go ahead, Jerry. Well, it's like this, Lee.  Mm-hmm, yes, I know about that. And that a railroad company wanted to buy your property so they could build a branch line over it, wasn't it? Yeah. Well, I've got quite a lot of money in the bank, Lee, and... and, well, I want to lend you enough money so you can come back to Farrokh's next term and finish up this year. What do you say? Well, thanks, Jerry. That means a lot to me. Just your offering to lend the money to me, but... Well, I can't take it. Why not? Well, because, well, Jerry, if the business back home is as bad as Mr. Thorpe says it is, well, I might never be able to pay you back. Oh, well, gee, I don't care, Lee.  Well, that's swell of you, but I... You know, I can't take it. Oh, God. Ready for the soup, sir? Oh, yes, that's fine. All right, boys, start in. And, Lee... Yes? Suppose I could get Mr. Thorpe's permission for you to borrow the money from Jerry. Would you be willing to accept a loan under those conditions? No, sir. No, that wouldn't make any difference. Well, let me put it this way. Suppose we were to find out that this, uh... Well, this situation in the organization of Waterman and Phillips is just temporary. That without any doubt in a few months, everything would be all right again. Then, uh, would you accept Jerry's loan? Well, I suppose that... Wait a minute. Waterman and Phillips? Well, you know the name of the... Yes, I do, son. I know the name of your father's business, and I knew your father, too, very well. Oh, gee, I... Lee, I've been doing business with Waterman and Phillips for years. I've bought all my advertising paper from your dad for more than 15 years. Well, gee, what do you know about that? Howly. As a matter of fact, I've just been to Mapleton and made arrangements for the printing of all my circus posters and billboards and hand bills for next season. I, uh, I don't know what this situation is that's forcing you to leave Fair Oaksley, but whatever it is, I'm certain it's not going to last. I'm sure it's just purely temporary. Now, uh, what do you say about taking Jerry up on his offer? Well, gee, this is all so kind of sudden. All right, all right, then. You, you think it over. Uh, I'll tell you another good idea. Finished with the soup, Mr. Reynolds. Oh, yes, yes, of course. Take it away. Yes, sir. Uh, I was going to suggest this, too, Lee. Yes, sir? That, uh, if Mr. Thorpe allows you to come to Winter Quarters with Jerry and Bruce, we'll take a little run down to Mapleton from Melrose City during the vacation time, and I'll have a talk with Mr. Thorpe about this loan business. Oh, say, Mr. Randall, that'll be swell. Golly, yeah. Then we can see your old home, Lee, the one that Mr. Thorpe bought. Well, yes, sure you can. Uh, Mr. Thorpe bought your old home, did he, Lee? Yes, sir. After Dad died, Mr. Thorpe thought that we'd better sell the place out in the country, and he also bought the house in town for himself and Mrs. Thorpe. I see. Big house, is it? Well, yes, sir. I guess it is pretty big. 14 rooms. Mm, yeah. Uh, Mr. Thorpe pay a pretty good price for it? Price? Oh, I don't know anything about that, Mr. Randall. See, he told me he'd take care of everything through the bank. I understand. Oh, well, here's our dinner, lads. Well, let's forget business and loans for a while and enjoy our steaks, hm? Well, I can certainly enjoy mine a whole lot more right now, Mr. Randall. After you told me that you were sure this thing that's happened to the business for the last long. More? Sure, son. That's a way to look at everything anyway. You know, more people suffer from fear in this world of ours than actual misfortune. Well, come on, dig in. All right, steaks all right. Um, how's the spinach, Jerry? Spinach? Oh, well, uh. All right now, all right. You dig into that spinach, too, young man. If you don't, you won't get any dessert. Oh, golly. Well, here goes, then. Ha, ha, ha. Oh, pardon me. Telegram for you, Mr. Randall? Telegram. Oh, you mean the, uh, confirmation of delivery, don't you? This is a straight message. Oh, all right, thanks. That's quick service. Wonder if it's for Mr. Thorpe, please. Yeah, I wonder, too. Very interesting. Now, say, this steak'll get cold if I don't get out of here pretty soon. Uh, Mr. Randall? Yes, Jerry? That, that telegram, was it, was it from? Uh, yes, son, it was from Melrose City. Oh, well, I mean, was it from? Mm-hmm, mm-hmm, yep, it was from Mr. Ross Thorpe. Oh, gee, Mr. Randall, quit kidding. Won't you please, please tell us what he said? All right, all right. I'll tell you. In fact, I'll read it to you. Mr. Sam Randall, care of, uh, Fair Oaks Hotel? Fair Oaks... Oh, golly, go ahead, Mr. Randall. All right. Glad to grant permission to Lee Phillips visit your circus with his roommate. Stop. Happy the boy can enjoy vacation before returning home here, Ross Thorpe. Oh, be, be, be. Jerry, Jerry. Oh, gee. I forgot where I was. Isn't that swell? Oh, you bet it is. Oh, thanks, Mr. Randall. That's all right, son. I'm more than tickled that Jerry's going to be able to show you all the sights of the circus and give you a little taste of circus life. And say, I'm glad because of another reason, too. What's that, Mr. Randall? That you'll be kept so busy showing Lee around that you'll be out from under my feet while you're there. Oh, no. Well, then it's all right. Well, then it's all settled. Now, you see, Jerry Dugan, you see how easily things work out in this old life of ours if we just look at our problems with a sense of humor, take them apart and see what started them in the first place? Sure, sure. There isn't a problem in this world that couldn't be solved if everybody'd go after trying to find a solution that way. Yeah, I guess you're right. I'm sorry to bother you again, Mr. Randall. That's all right. What is it? This telegram. Another one has come for you, sir. Oh, all right. Thanks. Uh, Mr. Randall. Yes, son? Is that... I mean... Oh, excuse me, I... I didn't mean to be rude. I was just wondering... No, that's all right, Jerry. No, uh, this isn't another telegram from Mr. Thorpe. It's, uh, one answer to a wire I sent to Jim Bennett. Jim Bennett? At the circus, huh? That's right. But this is one telegram I can't read to you. For a while yet.


Migos just got every time you hit Migos song you just got no choice but to get hype Migos they just they're not lyrically like killing it anything they just their songs and the beats they be having on this song just they on point man so shout out to Migos but anyway YouTube team keep it clean what's going on is engraving here with another video and this is just I guess kind of some side news about a former Baltimore Raven everybody that's up in here right now appreciate you coming through this is some side news about a former Baltimore Raven somebody that we we had high hopes for but he was just another guy that just didn't didn't end up working out he just kept he kept getting suspended with Baltimore he got suspended one time and then he ended up getting suspended again they had cut him a couple times brought him back then cut him he signed on with like the Giants or something he got cut he signed on with somebody else and then he got cut but the man that we're talking about today I mean as he's read it in the title is the former Ravens cornerback Asa Jackson I believe I'm not a hundred percent sure because I don't remember back that far I believe we drafted him in like the fifth round or something like that something like that but Asa Jackson was somebody that he he showed potential from time to time I mean he didn't as a cornerback he didn't he never did anything outstanding he was never locked down or he didn't make like 50 thousand plays when he did get a chance on the field but he was more so a special team guy he was a he was a decent kickoff return he was a nice punt return nice punt return so that was looking like it was going to be his thing with Baltimore but it just never ended up working out and something that I need to work out before he continues me introducing myself now me I'm in Graven vids this is my YouTube channel in Graven vids and this van right here just decided he wanted to be like all in the middle of the road so a big shout out to him but um I'm a Ravens fan and we could talk about Ravens on here all day every day but we don't we talk about every single NFL team that there is so if you a fan of the Ravens make sure you subscribe boy if you fan of the 49ers make sure you subscribe or if another one of the 30 NFL teams just so happen to be your boys and you rock with them all day all night forever make sure you subscribe to and turn notifications on too so when we go live every time we go live you'll be able to see and you'll be able to be notified and you will know like oh in Graven vids is live let's get up in there let's get in that live stream and again this is team keep it clean so as you all already know it's old news all the comments they got to be clean ain't no cursing whatsoever no disrespecting anybody whatsoever and with me hey if I say something that's wrong if I say something that you don't agree with if you got a different opinion on something that's different from mine that's fine you can call me out you can prove me wrong you can do all of that good stuff as long as you keep it respectful as long as you keep it respectful that's all that I care about that's it that's it but anyway ace of Jackson he got promoted to the 49ers their active roster he gets promoted to the 49ers active roster so will he be a start over there doubt how much of an impact will he have on their games I have no clue because I'm not sure how their roster is set up but I'm happy for him I'm happy for him but the biggest thing with ace of Jackson that I'm hoping for I hope that our guy stays or former guy I hope that he stays clean because that's something that he just couldn't do in Baltimore he could not stay clean he was always getting suspended or not always he got suspended twice but it just showed that he couldn't stay clean and one time he was like I believe after the first time he got suspended he was like okay it won't happen again it's never gonna happen again then what happened it happened again but hey people make mistakes we always learn it correctly the first time but that's part of life and that's part of making mistakes you got to go through those things but I'm sure he'll be alright so I'm gonna be looking to see if they do anything with him over there in San Francisco and be trying to keep my eye on that and if any 49ers fans got more inside or entailed in me hey please feel free to let us know but anyway just wanted to let y'all know that especially as Ravens fans especially as a former Raven who did some things for us but that was it appreciate y'all man thank you and I'm out


mullig monk for the kings rookie jaylen wilson for the nets Uh, it's a few people that have a part in this act what you got a man extra tag and full throttle brandon miller Clear path of brandon miller That's the 10 that is at a 10. Whoa Yeah, horn hits brandon miller to 10. There you go.  There you go Very nice card. We'll get that magged sir Yes, sir Right behind it is a green for the blazers anthony simons out of 75 tmack orange Spellbound wemby with an auto of tigeroam for the cavaliers turn of the century Bradley biel that is numbered to 90 out of the blue for the suns rookie derrick lively going to the mavericks Craftsman of randall deer and fox Elite deck kings and orange mohammed gay for the hawks rookie there Solid start to the mixer to court kings.  Yeah, I guess this is how they started the game Level one Murray for the blazers level two is Hendricks for the jazz Next minute junior works in progress goes to the hornets number to 25 Hornets again rookie jersey art navau brandon miller redemption Is Leonard miller master strokes sapphire. Leonard miller is a timber wolf First steps for the spurs victor wembanyama Very nice inserts and no a clowny level four rookie for brooklyn Dang, it's a good little mixer here. He did is I believe Joe and I tried to tell you guys I mean the spots were there Over there court kings here Level one brandon miller for the hornets Level two is picket for the nugs Julius Randall stealth nicks Yeah, timmy.  Nice candy Nice glass of candy ruby wave paint and Watson nugs. Oh, wow. It is one already. Look at that j-dub the 299 red for the thunder So not quick BBB just gonna try to impose themselves here. I'm guessing case and wallace rookie for the thunder silver raptors mcdaniels hyper sixers rookie for lip petricev but zemsky rookie for the dubs ruby wave rookie blazers to money chimera Silver fireworks is edwards for the wolves Piper for the next lani walker the fourth. We don't have illusions yet. We'll rip an illusions on friday Then he gets shipped to us in time artist gilmore autograph for the bulls Yeah, they're all in the schedule for friday Silver for the spurs monogen obli silver fractal kairi erving for the mavericks Solve little mixer here Oh, dude, we've we've got three mags three man And all like all the mix are dude three of the top five rookies arguably you're good rj Yeah, no, that's things that didn't get shipped to us in time, but we'll get we'll get to it on friday We got some spectra on some prism and some other things for football tonight I'll cash rookie for the heat Hendricks luck a lot of ruby waves simons blazers purple eyes angles magic Oh, man, we just got jangled Out of 149 you're lucky sam's not breaking guys.  We'll clean you to that back card there Anthony black Brandon miller rookie base for the hornets Silver pelican zion auto is gonna be rookie gg jackson for the grizzlies I've seen that ref before. Yeah, he just got run into him the players just run into him and stop the ball He just he hit the whistle. He's like come on guys really Now and again I'm in thompson rookie for the rockets silver wizards jordan pool Out of 60 jordan pool on the orange wave Good low numbering there Last pack of the break hyper rookie buffkin for the hawks silver d-book kaleidoscopic for the suns And that does it Nice mixer. Congrats to those that hit will do a recap here. We have three mags. You sure do Have a four box mixer or five box mixer 221. Yeah Pretty pretty good All right, so kind of sp's parallels Kind of miscellaneous good stuff though on the on the recap here level four. No, a clown. He had a corkings is awesome Numbered prisms of dyson daniel's jalen williams jarrick rose joe ingles number of elites bradley biel Jaime hakez. I'm in thompson Carl Malone anthony simons bojan bakdanovich To 60 was jordan pool from prism to 25 nixmouth jr from the Corkings autos of gg jackson artist gilmore wolves redemption lettered miller Tygerome calves three whitehead nets mike miller grizzlies Strother for the nugs jersey of hendrix for the jazz and brandon miller for the hornets 25 omen thompson rookie yearbook auto for the rockets There is more to 10 clear path brandon miller For the hornets. It's so nasty that car looks so cool great the gold on this is insane.  There you go. Thanks again, everybody Moving on to the end of the afternoon Sam and shawner live at about an hour and a half guys get your spots for tonight great lineup for tonight Baseball basketball and football plenty of it plenty of it Appreciate y'all for hanging out We will see you in a bit