Any questions on anything with that? Okay, so how can I be consistent using golden gaps? Well, that's the whole purpose of where the process of using your brain takes hold. For me, I've been doing nothing else but this for so long where it's ingrained in me, where I own the knowledge. It's just in my brain. Like I take trade so fast and I don't even sometimes like have time to process the thought. Like I'm just so used to doing it. But when you're new, you have to go through the process. And I still go through and rate the gaps. I have a worksheet. I go through and rate the gap every single morning. I never skip it. I rate it by noon. I rate it the INTC. I rate them in the morning. I don't rush, rush around. I get up early. I exercise and then I get ready to trade. I start sitting down around seven o'clock and rating things while I'm eating my breakfast. The more preparation I do in the morning, the easier it is for me to make money and make the trains that I do in the day and then have the conviction. But it's a consistency in the proper look of it, of the preparation and using the same strategy that really helps me. But when the live day comes, I'm so used to doing it that I just do it. But I have all the prep work down in the morning and that helps with the consistency too. Whereas a lot of people don't even know what they're trading until after the market opens or after 10 a.m. I don't train stuff on the fly. I know what I'm doing before the open or I know I'm not doing anything before the open. And that goes for options and day trades. Okay. Any questions here so far by anyone? So again, it gets back to the repetition. Like if you play a sport, my father's a golfer. You know, if you play a sport, my father golfs a lot. Some years he's more time to golf than others. But the more he golfs, the better he is than that year. He's been golfing for a long time. Repetition helps you get better. Do it, do it, do it, do it, do it. You know, that's how you get better over time. Skipping it and jumping around from thing to thing is a disaster, an absolute disaster. So ultimately, how do you get good? Well, you've got to stick with one thing. That is problematic for so many people because they just think, I don't know that they're never going to lose in a train. They lose in a train, they get frustrated, they want to quit. Sometimes trades don't work. You have to accept that about this, but you can't give up. You have to stick with one thing. That thing has to work, but you have to stick with it. The consistency really counts. It's the reason for my success besides the system itself. The application of using the rating system, the 26 points helps me be successful. But then also the consistency, which I stick with it. I stick, stick, stick, stick, stick with it, okay? So how much money can you make trading golden gaps? It depends how much you risk. I say go for one-to-one with day trains and go for about 50% to 100% in an option. If you're risking 1,000 in an option, your goal's 500 to 1,000. 500 is good, that's 50%. If you're risking 1,000 in a day trade, your goal's 1,000. Might sometimes you might make 1,500. Sometimes you may make 800. It all evens out, okay? Any questions about that? As I said, the trades go fast. I like that. I love to short, I focus on shorting. That's why I get the drops. Panic happens quick. Selling happens quick. That's what you saw today in the market. You saw this massive sell-off and panic that happened right away out of the gate in the morning. Again, the news overseas, Afghanistan, whatever, COVID you saw the sell-off last year. All of these things. But the faster you can make money, the better it is, okay? Here was another trade that we did. This was the diamonds. Again, this was today, but I'll show you the option. It was on July 19th. We did the 341 puts. Let's go back and look at it. So it was this day here. Market closed to your gap. Down fell. Boom. Okay? Right in here. So this was a put. We did the 341s. Cost was 260. This was very cheap actually. Contracts was 30 and advanced risk of 7,800. Sold at five. Again, close enough to 100%. You get the drop, you get the movie, get out. You get the drop, you get the movie, get out. Okay? This isn't like investing in a stock or you're buying it and you're holding it forever. Again, I'm trying to get momentum. Trying to get momentum. When you get the momentum, you get out. That finding, I didn't feel like I got enough momentum that first day. That's why I felt the confidence to hold it into Friday. And specifically on Friday, when it didn't break 150, I felt very confident it would go through 150, which it did today. Okay? Anyways, let's look at the beginner risk for the diamonds. Again, this is an option. Three contracts, cost is 260. Risk is 780 bucks. 92% return on investment. Again, $780. Is this taking it and getting out the same day? Okay? This was several, several weeks ago. Actually today is the 16th. It was almost a month ago. Hard to believe. Fact, hard to believe. Here's where we were in July. Here's where we are today. We're 10 points higher in the diamonds from where we were in this particular day. We flirted down here with this area earlier. Fell, sold off, bowing did too. You saw that. And now we have this. So the question is, are we gonna go back down there? What remains to be seen? Any questions here about gaps or options or anything I'm talking about here so far today? Here are some more gaps. Close to your gap down. Could have shorted this here. Again, this is the one here. Close to your gap down. We did the put. Could have done a day trade here. Could have done a put. Could have done a day trade here. Could have done a put. Could have done a day trade today. Could have done a put. Close to your gap down, fell. That tail is selling, that occurred, that it fell in the market today. Okay, so there it was. So why trade gaps? Again, fast trades, lots of volume, lots of momentum that makes a good product for you to make money. As far as looking at different strategies, I don't like the idea of scalping and I don't do low float stocks or cheap stocks or penny stocks. You can make money when stuff moves without putting too much risk on, I think. Plus you have volume, you know you're gonna get filled. Again, the nice thing is you can work from home. That's advantageous in this type of environment and in this type of world, seriously. So if you learn how to trade the market, you can be your own boss and work from home, which is a very nice thing. Even in 2021, people are still in this kind of half COVID thing, which is crazy. But even once we get fully out of it, the fact is it's nice to work from home. You can set your own schedule and work just a short time a day with a comfortable income. No one said you have to risk $8,000 a trade either. Think of it, I've been doing this for 13 years. Again, you can risk $1,000 in an options trade. That's a good amount of money, people. There is a trading strategy that I do, like I said. It's on gaps, it's called golden gaps. I like it because it's a sustainable trading method because you have it in any market. It doesn't matter if the market's bullish. It doesn't matter if the market's bearish. It doesn't matter what's going on in the news cycle. The trades that I'm usually looking to do have absolutely nothing to do with the market. So you can trade the market sometimes. You saw that we do, but I can looking for specific things, just like the PayPal. I don't need the market for my trades to go, luckily. So we do them and we're looking for the good gaps, whether the market's in an uptrend or a downtrend. But if you want to trade for a living, you have to have a strategy that's number one. You've got to have one of them. You can't be jumping all around. You also have to have something that's predictable and reliable. You're going to get it most days of the week. You've got to have the trades there, Monday, Tuesday, Wednesday, Thursday, Friday. You've got to get the setups almost daily. You've got to get big moves, okay? None of us are taking a hundred thousand positions like a hedge fund, okay? We have to be able to maneuver in with a couple hundred shares or a couple thousand shares or 20 contracts or whatever. We have to be able to maneuver in and out as active, active people. Any questions here so far? Thank you, Kathy, for putting my information in the room. Again, if you want to trial, email me at melissathestockswish.com if you'd like a trial. Anyways, we're in a really different strange time. That's all I can say. I mean, it's just one of these weird times. I had a lot of people reach out to me last year that were thinking about trading and then wished that they would have reached out to me and then had all their life upside down with COVID. Don't wait till something happens. Like learn something to make extra money now. Even if you have a full-time job and everything's fine. Don't wait till things get bad where you're up against the wall. Do something to change your life to make more money now. Just make the time to do it. Make the time for the class. It's on the weekend. Make the time to trade in the morning for an hour a day.  Make the time, trade two days a week, whatever. Today's world is not the same as 25 years ago or 30 years ago or even when the bank bail out was. My God, it's hard to believe. September 11th is coming up 20 years. 20 years since 9-11. I just can't even believe it. What we think is a secure job today may be gone tomorrow. We can be great employees, productive, outgoing, hardworking and it may not even matter to our employer in the end if the company can't keep you on. If a company has poor management, they might fail and it has nothing to do with you. You're seeing that with the collapse of certain industries, it's terrible. Or your industry might fail and it has nothing to do with you. Or you might have a vaccine mandate or something else where you get fired.   But you can work for yourself in the market. You can create your own job security. You can create your own opportunity by taking upon yourself to learn how to trade the market and make money trading and this is a process. It's a process, the process is learning. How fast are you gonna learn it? You do the class in two days, you can learn it and start going out of the game like that. Are you gonna comprehend everything in two days? I don't know, I don't know you. Some people do. Some people have a learning curve, okay? I have to get to know people. But I'm here, you can ask me questions I'm always here for people, okay? Any questions right now? Quiet group tonight. Anyways, one of the cruxes of tonight's lecture that I wanna make clear is that one quality strategy is really all you need to be successful.  I mean, that's what I've been doing for 13 years. Having one powerful strategy that pays you will open up your eyes to the true profit potential of the market. If you've never taken a trade and have what I call a comma day where you make a thousand comma, 2,000 comma, any number with a comma. If you've never had a day like that, once you do and you see what it's like, it's amazing. It's an amazing feeling to make money like that with a comma trade in a very fast period of time. Whether it's five minutes or even an hour. The market can offer your real life long career if you have a strategy that makes money consistently. For me, it's golden gaps. And again, some people will work 40 hours a week or more and not even make what they can in one trade that could just be within 30 minutes. There was a lot of big moves today. You could have done trades today and got out and pretty much taken the whole week off because if you got in shorts before that drop today, boom, we fell out of the sky. I'll pull up the market when we're done. But I mean, just, it's the timing. It's just getting it, seeing it, it's getting the direction right, getting the timing right, taking it with size. Then you get the momentum and it poof, it comes in like that and then you get out. And then you get out, okay? So we've been talking about this here, golden gaps. That's what I do. What is a golden gap? A golden gap is a gap that moves in the direction of the gap. Who makes golden gaps? Institutional money. That's what makes and creates these gaps. It's what moves stocks. It's what moves the market. In the case of a bullish gap, institutions are buying the stock. Therefore, the stock moves higher in the trading day. In the case of a bearish gap, institutions are selling or shorting the stock. Therefore, the stock moves lower on the trading day. Okay, really? You can go long, you can go short. Again, I prefer it short, but I do do both. The golden gap though is about high probability. Anything that could put the odds in your favor to trade will give you an edge. The golden gap system gives you an edge because it uses a rating or scoring system. This is what I do in the morning in the pre-market. I use the rating system to pick the stock to trade. I'm reading the price point of the gap and then I'm using technical analysis on an advanced level to pinpoint which stock to trade that day and in what direction. That's how I know to short it. For example, the high probabilities and the quality and detail in the rating system. 26 points seems like an enormous amount of detail, but once you learn it, it only takes five to 10 minutes and I can do it really fast if I want to. But I like to take my time. I do not like to rush. I'm gonna take my time a lot tomorrow. We have some big things out Tuesday. Earnings, I mean, okay? So the golden gap system is a 26 point professional bearish gap rating system. The purpose of the system is to help you evaluate which gap to trade each morning. You see the checklist. That's what I do. That's what I do. So using a 26 point checklist to trade creates high probability of success because I know that it has all of these things stacked up in its favor to tell me it's gonna drop or rally, but we're focusing today on shorts. So if I get 22 points say, I say, well, that's a lot of points. That's a high probability. Trading is about probability. Again, there's never 100%. There's never 100% anything. There's no guarantees at all. There's no guarantee the market's gonna continue higher tomorrow and no guarantee it's gonna continue lower. You know that when you take a trade that's why you have to size yourself. I'm looking for high odds. High odds. When I see the odds in my favor high, then I feel confident that I can risk money because it's show my harder money. I'm risking when I take the trade. I want the odds in my favor up, okay? This isn't like gambling, you know? When you go to gamble to casino, it doesn't have high odds. In fact, I don't know what the odds are. Blackjack or whatever. You'd have to be a good car player for one. Anyways, getting back to the momentum. This was the buy deal. Look at the momentum. The stock was at 165. One, two, three, four. Four days down, the stock has dropped 20 points. 20 points. That's a big move even for something like buy deal. That's momentum people. Right now we're an earnings season. We got loans. We got Walmart. We got Target, I think, this week. We got a ton of stuff this week. It's gonna be a good week. Earning season gives you a lot of gaps. Now, in non-earning season, we still have trains. We still have planes. We still have gaps, but I may not have like five things a day. Now, I may not do five things a day. I might, I may be, but I'm trying to do one thing a day. But in options, I might do a couple of options. I might do three, four options in a day. But anyways, I'm always looking for the gap. The quality gap is one that rates high. High enough to train based on the 26 point rating system. Okay? Any questions here so far? How's everyone doing? Okay. Gonna keep going. For every amount you rest per train, your goal is to make at least that back on the train. Like that's what I'm saying, one to one. If something goes to a larger target, hey, you can make even more. Are you asking me what I think? Like with the buy deal. That was when I said, listen, this is a good one. This is a good one, people. Then you know you can hold it. You can hold it to what I call a piggy target. You can't hold everything to a piggy target. So how do you choose to money manage as part of your overall money management plan as a career trader? Trading is ultimately, though, about making money and booking it on a consistent basis. Book it, book it, book it. Having solid, profitable trades with good risk to award on a regular basis will eventually help you take more size, which is obviously what you wanna do and where you want to be. You know, that's what we're all working towards. Some trades can make more, like three to five times the amount you risk. However, it has to do with the timing. It has to do with money management. Excuse me, and most importantly, the golden gap rating. Cause I'm never doing anything that I haven't rated. The gaps, I'm doing gaps in the US stock market. You can do stocks. You can do the market ETFs. You could do any ETF that you want. I'm doing options and I'm doing just straight out full on equity trades. So like if the stock, here, let me look it up right now. Let me just see if there's anything tonight. I don't think that there's anything right this second. I think everything's tomorrow morning, but let me just see if there is anything tonight. Let me just see if I can find a live gap right now, quick. What is today, the 16th? I gotta go to bed early in the night. TME, I don't know if this is moving, but let's see. TME, I'm putting the chart up now. Let me know if you see it in a second. This had earnings. I don't know what it's doing, but let's just look at it. I don't know if I've ever traded this in my life, but let's look at it, $9 something. This is up. Okay, I don't think I'm doing this, but let's just look at it anyways. So it is up. So here's the gap. It's happened, boom, 415, do-do-do-do-do, five o'clock. See the price here is 918. See where we have it. See where it closed. So this is a live gap. Stock closed at 892. Now it is like here. See that? Anyways, a trade that's a day trade on margin, like I wouldn't, if I wanted to do this, I'm not gonna do this, but I'm just using this as a make it up example. If I wanted to do this, I would not do an option in this. This doesn't make any sense. I don't even know if you had an option in this, but even if you would, I wouldn't do it. So you would best be served to do this as a day trade. So say you wanna short it, or say you wanna go long it. Say you wanna go long it at, tomorrow morning say it's at 9.50, okay? So you take 1000 shares, you need what? You need $9,500 in buying power. Not in cash, but in buying power. So depending on what type of account you have, four to one margin, 10 to one margin would depend how much money you need. Follow me. Does everyone understand margin? And if you don't, ask me. Ask me, if you don't. I would not do this as an option. It's too cheap. Does everyone know what I mean by margin? Don't be afraid to ask questions. You're not gonna learn unless you do. You're not going to learn unless you ask. Let me go here and see what else. Okay, nobody's asking. You can always email it to me and ask me later. And again, you're welcome to come to the live room tomorrow, just gotta email me for access. Anyways, the point is I do do stocks and options. And I do do equity trades and stocks. So I do both, but not in everything. But if I happen to do a day trade and I happen to do an option in the same stock, like I do, you know I love it. I love it, love it, love it. So those are the ones you wanna make sure you get both. Those are really good gaps then. Anyways, you need a plan of action. A plan of action in place to win if you don't have one, you're not gonna win. This mouse is going for the cheese. He's desperate for a meal. He's starved. All the cheese is sold out. Not because we're on lockdown, but because we have no truck drivers delivering the cheeses. Low supply inventory. Stock is low in the stores. It's a mess right now, trying to get supplies. Things are backed up in the ports. He's desperate for cheese. He puts on the helmet and he goes for it, knowing full well that there is a risk. There is a risk. If he does not have a plan of action, he will not survive and win the cheese.  So you want the money, but you have to put the helmet on. The helmet is the information and then you also size yourself correctly, money management-wise and use a stop. That protects you. Keeps your account whole. Okay, everyone understand. Thank you, Kathy. So let's talk about the philosophy behind the Golden Gap 26 Point Rating System. The whole philosophy behind why I figured this out, why I did it, is I wanted to make money. That's the end of the story. One day I did a gap, I made a lot of money and it was a short and I said there's something to this. I realized gaps have huge moves and I said, wait a minute, wait a minute. I don't need to take thousands of shares and at the time I was only taking hundreds of shares. I was risking a much smaller risk and I said, and I made a lot of money. I said, wait a minute, there's something to this here. So then I went to figure it out and analyze it in the pre-market and that's how I came up with the system. It's to analyze a large timeframe, the daily, to make the trend decision on the directional bias for the gap. And again, this is on the day, on the day I'm playing it, whatever the day is, okay? All large traders of every kind look at large time frames and make decisions, particularly institutional trainers. Those are the ones I care about not to retail traders. To make entry decisions and exit decisions based on a small timeframe of the one minute chart which has a high degree of focus and accuracy and using the daily chart to make the decisions for the stock pick allows for accuracy in the direction. Using the one minute chart allows for good risk to reward trades with accuracy. So we're taking the trades on the one minute but I'm analyzing them in the daily, okay? But you know, really the only difference between being the beginner trader and intermediate trader or even advanced trader is size, size and knowledge and looking at the size of your account and how much you know and how much risk you wanna take based on the size of that account. You can ask me what I think. If your new should take a small size, that's it. If you have a small account, you should take a small size. You can build it up pretty quick. Two or three great plays can make your whole month. And that goes for options and day trades.  What's wrong with that? What's wrong with 2,000? I mean, this is just normal, normal, normal move of a dollar. The amount you choose to risk should be in accordance with your individual risk parameters which you set up for yourself. And if you have a margin account, it has to go with that too. Now, while we sometimes do trades and more expensive things like the market ETFs, we short of the QQQs today as a day trade. But the reality, and that's not cheap. But you could have done it as a margin too. You could have bought a put that was cheaper. And either way, you just take your size down, okay? You can take 100 shares. The Golden Gap course is a class that I teach. I teach it once a month. The class is at the end of this month. So you have time to think about it. You have time to decide if you wanna do it. You have time to ask the questions. You have time to come in the room as a trial. The Golden Gap course teaches a strategy in how to trade gaps. The course teaches a 26 point rating system to find the best stock to trade each day. The course also teaches students how to play the stock on the day. And that's important. The course teaches students chart analysis and technical analysis on an advanced level. I'm extremely good at reading charts. I've gotten better over the years. It's one of the reasons I read the market so well. But this is something that, again, it takes time. You process it, you read it. It's a full understanding of what you're doing because that's where you need to be. When you understand what you're doing, you won't get scared out of the whip sauce. And you'll hold something like Baidu to get it made into a bigger train too. Any questions here so far? Anyways, I go through the process. I go through the points. I go through the checklist. I do it every morning. I don't skip it. This is the meat and potatoes of what I do and this is what you learn in the class. It's the Golden Gap 26 point checklist. You will go through and rate it. Again, if it rates 20 points or more, you will take the gap in the direction of the gap. I never get in in the pre-market. I don't trade the post-market. When I see the gap happening, I'm not predicting the gap. I wait till it gaps. Then I rate it, okay?  And that's important. That's very important. And 90%, I'd say, of the gaps I trade have follow-through for swinging core trades. That's how I really ended up getting into options because I didn't do options 12, 13 years ago. I got into options about six years ago plus, but I'm my system. I didn't design for longer term moves, but it does have very specific points that I look at that really end up having nice follow-through. When a stock rates over 20 points per the system, the chart is really damaged and selling can continue to come into the chart to push the price down for further moves lower. You saw it in the PayPal. You saw it in the buying deal. More selling than more shorting means more momentum for you to capitalize on the first day and then beyond. If you happen to wanna take it as a swing trade, you can do that too. Although I would downsize yourself if you're just flat out doing a swing trade on two-to-one margin or cash. You have to learn the system how to find and spot and rate the gap. And then you can play it however you want. Or you can use it for something like today. Say you're in a retirement account. Say you're in something. Say you're in something and it goes against you and you're long and it goes against you and you're short. And you're saying, wait a minute, maybe I should sell. Maybe I should sell out of my retirement account today. We gapped out and we fell today and I don't know what's happening overseas, blah, blah, blah. You decide to get out then because you realize of the gap.  Any questions here so far? So it has many, many uses, learning the rating system, I'm saying. Specifically, okay? Thanks, Kathy. Anyway, some teaching really regular people. Some people have no experience trading whatsoever at all. Then some people that have come to me have actually been trading over them alive. So, bottom line is it doesn't matter. Anyone can learn it. I'm here to teach you. You can ask me questions. They're normal people. From all walks of life with all different kinds of money from all different backgrounds, whatever your experience level is currently. If you're not having success, if you're not making money, then you've got to step back and evaluate what you're doing because you don't want to run up muck. You don't want to lose the next five months of the year. Don't continue doing the same thing and getting nowhere.  The end of the calendar year is a good time to reorganize and learn new information because it will help you become profitable to use the information to take it into the next year, into 2022, okay? But I think that trading is fun. I definitely think making money is fun. It's something I'm extremely focused on, which is why the room's great to be in there and to get the live trains. And you just got to go with it and listen to my explanations in the room, the teaching, what I said about the market, all of it. For many people that are looking for other careers right now, trading is one of them. You can live anywhere in the world like I said in train. I happen to live in New York. Same time as in the market, Eastern times then, but you don't have to be on Wall Street in order to trade. And I'm nowhere near Wall Street. I'm like an hour away from Wall Street, you know? So I mean, people really aren't working in offices really here in New York City, to be honest with you. Like, I'd say 20% of the people are in offices right now, 80% of the people are still not even back in the city. So people are just working from home and some are gonna work from home from ever. Some people are out in the Hamptons and some are they're gonna just stay out there. People aren't coming back to their offices even till January next year. We live in a remote world now. Doing this for a living is totally, totally doable nowadays, okay? Anyways, if you wanna learn my system, you would learn it in the Golden Gap. And the Golden Gap course will help you find success in the market because I do my best to mentor people to explain things, to go over them. The room is the support system after the class. The options newsletter, you don't have to take the class to sign up for that. You just get the newsletter is emailed to you in live time if you just wanna do the options, but you must do the class to be in the room, okay? So what do you need to succeed besides the Golden Gap course, besides learning the system? The four C's. What are the four things you need in order to be successful? Number one, clarity. Why are you trading? Why do you want to do this? Okay, you need to know what is the goal, what is the purpose? You want a new career, want extra money to buy a house, a car, what? Why are you doing this? Okay, you're retired, use of extra time in your hands or what is it? Know why you're doing it, have the clarity, okay? You also need confidence. Why do you get the confidence? How do you get confidence in yourself? Even if you've been trading and you've lost in the past, how do you get your confidence level up? You gotta learn it, it's the knowledge. The knowledge helps your confidence. One of the reasons I'm extremely confident to hold something like Biden was because I have a knowledge. The knowledge helps your confidence. It will help you get through bad days. You won't think it's the end of the world. If you're a confident person, you'll say, you know what, tomorrow I'm gonna do fabulous. Tomorrow I'm gonna do great.  You also need conviction. Conviction is, again, the knowledge, the knowledge of the full understanding of the charts, of gaps, of how the market works, of knowing that you have things like right now where we're in this volatility period where you've got news and other things, economic downturns, COVID, all this stuff. I pay attention to the news a lot because I talk on national TV, but even if I didn't, I would anyways because of the market, because of my trains. So knowledge helps you have the conviction and part of it is conviction in yourself. Knowing again that you can do this, that it's not without the realm of your reach, not outside of your scope. Again, you can open up an options account with $2,000. You can't risk that whole amount of one train, okay? But you could take one contract of something and then commitment, commitment which is learning, gaining the knowledge and then asking questions, studying in the weekends, paying attention. You know, going through the reviews, doing the reading system, not skipping up, getting up early. I think learning is fun. I read, okay, I read all kinds of stuff.  But I mean, you gotta learn what you're doing.  Honest to goodness. And once you learn it, you know it. Once you learn it, you know it, that's it, okay? So the Golden Gap course is the complete system to use to trade. It's all the pieces of the puzzle that you have together. You pull them all together, boom.  The class is called the Golden Gap course. The class dates are August 28th and 29th, Saturday and Sunday classes online. You can be anywhere in the world and take it. Clash to the class is $6,999 and is money well spent. You must do the class to join the room. If you wanna join the options letter, the options newsletter is $6,999 for one year subscription which you get the newsletter's emailed to directly, okay? You will not learn the system on the letter, but if that's just what you wanna get the newsletter, trades them fine. I think learning the system is important. I think learning the system is helpful. If you'd like a free trial, email me. Again, you have plenty of time to be in the room this week. Email me if you wanna trial. Let me just take a look here at the market. And then, I'll get this thing off, whatever this thing is. And then I'll answer any questions for you. So we drop, it looks like we didn't have any reaction at all to Biden talking. That's what I wanted to see. He started speaking at 3.45, he was brief, he was short, he took no questions and that was it. So we dropped, we dropped down into 10.30, 10.45, 11. Okay, any questions from anyone? How's everybody doing? You gotta get serious if you wanna do well trading. I think one of the other things that traders don't do is they don't take it seriously. You gotta take it seriously. I devoted three years of my life to figuring out my system. I worked full-time when I did that. I took it very seriously. I basically had no life. I worked full-time, then I traded. I saw my family and that was it. I took it very, very, very, very, very seriously. I never thought it would take me three years, but I absolutely was determined to figure this out and I did. I still take my trading seriously. There's times where I don't get enough down on the day because I'm so involved in my trades or what I'm doing or I don't listen to stuff and figuring things out. That's what it is. That's what it is. You gotta love it. You gotta love what you're doing. You have to get into this stuff, people. I really love being able to predict where somebody's gonna go. I absolutely love it.   Again, this is all based on technical analysis, but it's advanced technical analysis in a gap, okay? Any questions from anyone? I do see some new people here. I might see some older people here. We're done on time. I don't know how that happened. Any questions from anybody? No idea where we go tomorrow. We will see in the morning. Let's look here. We will definitely see in the morning. All right, listen. Email me if you wanna try out of the room. Email me if you have any questions. Have a wonderful, wonderful, wonderful evening. Stay safe, everyone. Email me a few questions about the class. I will see everybody soon. Thank you, Kathy.


Great to have you back on the breakfast on a plus TV Africa a first major conversation for today goes to the southeast to where there seems to be a Blame game and back and forth you know between the current emu state governor and of course the former governor of emu state Orocha Orocha the IPOB has also joined in the discussion, you know and blamed security agencies in the state For brutalizing they've even used words like a genocide in the southeast, you know by police officers And of course by the APC government the sides the IPOB the governor of the state who put hope was a dimma and the former state governor Orocha Orocha are also exchanging blame So the cause of security challenges currently, you know Bedevlin emu state a few days ago, of course the governor was quoted as saying that some of those suspects arrested You know said that they were sent by Orocha Orocha But of course this morning in the news that we shared, you know, the governor once again has said that or Failed to reveal those sponsors of terrorism in the state. We're speaking this morning with barista justice Webu who is a human rights lawyer. Thank you very much for joining us and good morning Thank you. It is my pleasure once more. Happy new year to everybody. Same to you Let's first of all, you know start with some clarity to us as to what exactly is going on in emu state You know, we will eventually look at the southeast But emu state seems to be the one making headlines with regards to security challenges in the last few weeks Yes, it's actually quite unfortunate that emu state that Hospitality Home of terror Unfortunately or unfortunate, let me put it that way. I am from emu state. So unfortunate what we are seeing in this terror It has never been But emu state in the history of Nigeria, you can make your inquiries, emu state has been known for peace and tourism People still come into emu state any day, any time, at any hour to stay and enjoy themselves Unfortunately, everything went down. We don't actually know what is happening In other words, we know there is security all over the country. But the question is why emu state Does know that no industries in emu state, there are no major industries in emu state, no major Accuracy in emu state and all the way. So one will begin to wonder why are the you know security senior challenges in emu state. It's so unfortunate I have to tell you the truth. And I believe nobody in this country, especially from the south, is also by that idea Well, are these still situations of the unknown gone men, you know that we're talking about here Or are these just, you know attacks here and there, you know that used to be in existence Are we still to because you know, I'm sure you would also agree that the situation on the unknown gone men that plagued the southeast, you know, the last few months of 2021 You know, we don't hear a lot of those stories anymore. So is this, you know, the same unknown gone men situation in emu state? Or is this something more? Well, the truth is that, you know, this whole insecurity, actually, which was history happened About about last year especially within the period and after the time of the air transport days and all the way and emu state also became worse and worse after the what you call it the jailbreak and all the way. So many emu life started hearing this this slogan of unknown gone men. In fact, to be speaking, this thing is is unknown to to emu people. Many emu people heard about this unknown gone men, you know, for the first time. Actually, who bad always had about bad, the twin, Boko Haram, Sturgeon Steyer and others, but it has never happened in the emu state before. So unknown gone men, unknown gone men. Why are we saying unknown gone men? Yes, because they are gone men that are not known. So whether they are police officers, whether they are military officers, whether they are civil defense officers or whatever that is going on, or whether they are private individuals, provided that one cannot identify these people. That is why it is called a non-government. So in the past, you begin to see that after the jailbreak is a critical situation in emu state working somehow and it has continued that way to a certain level. All right. We seem to be struggling with feet from Barista Justice Uwebu. Once again, the conversation is on what currently is going on in emu state with regards to insecurity. Of course, reports of attacks here and there. And instead of the proper security architecture and, of course, the police clarifying where instead hearing from governors and ex-governors, it's really just to have a clear picture of what exactly might be going on in the state. Who really is to blame and whose responsibility should it be to solve these challenges, the federal government or the state government. And when we hear from the state governor, blaming former governors and former political leaders in the state for the insecurity, and I remember the report that said, and that was from the governor of the state, who was saying that one of the suspects confessed that he was sent by former governor Rocha Socorrocha. One of the things that I found peculiar was, it's pretty much the same thing that we have across Nigeria every now and then, that instead of proper security agencies and proper authorities being able to carry the full investigation, we instead hear politicians blaming themselves. It's either the APC's blaming the PDP or the PDP's blaming the APC. And now, Opus of the Mice blaming Rocha Socorrocha and saying that one of the suspects confessed that he was sent by the former governor. And when I read that story, initially I was saying to myself that I don't need to hear from the governor of Igmo State. I need to hear from the Commissioner of Police in Igmo State. I need to hear from people who are responsible. The investigating Boone's officer on those cases, not the governor. The governor is not the IPO on any of those cases. And if people are arrested, then we shouldn't be playing politics with it. Because these persons who have been arrested have committed crimes against the state and against the people of the state. And so it should be an investigation, a police investigation that should lead us somewhere to completely make Igmo State peaceful and the whole of the Southeast should be at peace again, instead of politicians scoring points with these crimes. Apparently, maybe that would be the reason why you have the governor retracting, taking the step back and saying we're going to allow the security agency, of course, at this point we're talking about the men of the Nigerian police, to go ahead and publish these names. But not to say that, because we're constantly, and that has become part of a cliche for us in the fight against insecurity. I mean, we're constantly saying that if you see something, say something. So I would also say that as much as we have information, if the governor has information about persons who are committing this crime, the right thing to do would be to report to the police and let there be proper investigation done. But in all of this that is going on, I mean, with a security situation that's going on in the South Eastern part of the country, and to be very precise, Igmo State, I ask myself, and that's the question, because he is an Igmo State, and I'm hoping to find out what the role of the security, I mean, what the role of the police has been. How far the police have been going about discharging their duties? How come we have not had a lot of persons? Because it feels like he had mentioned Igmo State is a very peaceful state prior to this time. It's a place you want to go to and have all of that peaceful. I think we do have a guest back, Barista Unwebu. It's good to have you join us back. Thank you. Okay, so maybe you just continue with the question that my colleague had posed prior to this time. Yes, like I was trying to explain. For us, we are confined, or people like us are confined, the government needs to do something, because the conditions the President provides that the main essence of government is for the welfare and security of the people. Yes, he will say something about the President's government, saying that some people are behind his security in Igmo State, and they're going to make mention of him. Fine, because if there's actually even a group of people or persons that are behind his security in any part of the country, their names should be mentioned so that the people who know, Nigeria should know, so that the Igmo people will go, I think at this stage, what I could say, the issue of, you know, looking at people, the issue of personal influence and all the rest. Thank God the governor or the state government has come up to say something. The Nigerians are waiting patiently. Igmo people are waiting patiently to know these people, so that their names will be mentioned with personal figures, so that Igmo people will actually know who are, who is their enemy in this state. So, but the question now is, do you think that, you know, the security challenges that's going on in the country is being caused by some of these persons that have been mentioned? I mean, the back and forth with, you know, the President's governor and the former governor, what are your thoughts on that? The truth is that his security all over the world, especially in Nigeria, is not made by the gods. They are all man-made. It's either failure from the government or, you know, in participation or involvement of some individual or group of people for personal interest or gain or whatever. So, it is, it cannot just come from the moon. People must be involved. People must be responsible. And people must be held accountable and not to worry about it, whether it is in Igmo state, whether it is in Nigeria or whether it is anywhere. So, that is why we are waiting patiently to hear with personal figures, the people who are actually behind the hypocrisy, the questions in Igmo state, so that we can know who is our enemy in this state. And also, if we can extend to the country, we also know who our enemy is in the country. There's nothing about it. All right.  And statements like those, does it sound like it is simply politics that is being played here? Or do they genuinely believe that one of the, you know, of the two of, maybe the former governor truly is, you know, creating chaos and insecurity in the state? Well, the situation has increased now. From the media and what is going on, speculation and all the rest, the present government is accusing the former governor and co, and the former governor is accusing the present government and all the, but that is not the issue. The issue here is this, whether it is political, whether it is personal, whether it is group or whichever other name I can call, I don't know. The most important thing here is this, the government for now is in power, and they have the duties and obligations to protect the lives and properties of the citizens. So they should do everything possible to make sure that the citizens of Imoudez are protected. So if they feel like that's what I said, with false and figures, if they feel with false and figures that they know the people who are behind it, then let them come up and say, there's nothing big deal yet. So, you see, we are supposed to have passed the era of hero worshiping, which could have come past that. And that's one of the problems we're having in Nigeria. Inasmuch as in this country, I agree that they play politics in everything, but the politics should not be played with the security and not of the people. Because both the government we're talking about, both the former governor we're talking about, both the government officials, both present and false. They are also being affected by this situation especially in this case. So do you think that, you know, the fact that, you know, let's bring this down, the need to have the security outfit called Ibibwago, do you think that this would go a long way in, you know, covering the challenges that is faced with in the southeastern part of Nigeria? And I also like to find out from you, what has been the role? I mean, how effective has the Nigerian please in Imoudez state been? Well, the truth is that, but consistently, the body started with the responsibility of protecting lives and properties of the citizens within Nigerian police. Yes, the Ibibwago can come in. Every one has a security outfit can come in. Genocide groups can come in and out of the way because of the current situation we have in the country today and especially in Imoudez. That is not bad. But remember, there must be a holistic approach to all these things. There must be a cohesion between them. There must be this integration between all the security aspects so that the security working in the state will not work in tandem with the norms and values of security challenges in the country or in that state. So it's not a matter of we have Ibibwago, we have this, we have this and all the rest. The question should be asking yourself now is this. What is the level or the extent of compression between the security agents and these vigilante athletes that have been picked up in Imoudez state and all the rest? So I think that is where there is a disconnect because whether you like it or not, if these people, if the security athletes carry them and some other security athletes like the police, the militia and all the rest carry them, how do you not identify each other? How do you not come to a compression to each other to begin to battle some of these things? Second thing, who are, will they play by the rules? Who are the ones giving orders? Who are the commanders? Who are the soldiers and all the rest? So you begin to look at some of these things and most importantly, the government also must be careful because when you empower people with guns that do not have good intention for the people, they are bound to misuse it and they are bound to mess it up. So we must also be careful, the kind of people we empower, the kind of people we implore. If I let me tell you the truth, the Nigerian police today at the peace got to understand because the Nigerian police have forgotten or have shifted away from the normal norms of recruitment of police officers in Nigeria. You now recruit everybody to the Nigerian police and give them a hand. And that's one of the problems we are having in Nigeria today. Can you give us some clarity or exactly on what the nature of security challenges we're talking about here in Imo State is? Are we still hearing of kidnappings of assassinations of people being killed or robbed in their residence? What exactly are the most common security challenges Imo State is currently dealing with? Yeah, there's been kidnappings in Imo State, especially kidnapping. For example, I've been in Imo State since December to now, you know. In fact, they haven't passed any day in Imo State. You don't hear about one kidnapping or the other. Some happen in the most areas, some happen so many places that before even the media comes to take it off, many people will not know. And again, to tell you this, the media in Imo State is often not being enough. Many people are not even hearing about these security challenges in Imo State because the media, most of the media asking to have here are not being proactive. It's only during political exercise that you see so many media happen coming out in Imo State for one thing or the other. But most of them don't report simplifications. What happens? Because I discovered there is no compression or, you know, a sort of a between most of the media athletes in Imo State and the police. There is no cohesion and compression between the media athletes in Imo State and the government. So when there's just information, how do they pass it out? And when you understand some of this, you not think that the Imo people are more like, is neither here nor there. People don't hear exactly what happens every day in Imo State. But I believe that these things can be tackled. Okay, but we also have feelers from Imo State saying that, you know, the situation, the way it's been reported is not as it is, you know, in the media space. There's a lot of calm and peace in Imo State. I mean, these are feelers that, you know, one has been getting from the state. But moving away from that, I'd like to ask, because I've asked prior to this time, what is the role, how effective would you say the police is, or has been in carving and in fighting all of this crime and criminality in Imo State? Do you think that they are overwhelmed? No, the truth is the police in Imo State, to the best of my knowledge, they have been trying in recent times. And they remember that since the coming up of the end cast and the jailbreak in Imo State, you know, there seems to be more like discouragement from the police, especially when you talk about their website. Look at last December, this December that just passed. When did the police of stars all over Nigeria receive their color and all the way? Now, for police officers that are working in some departments, like practical things that, you know, are settled with the assessment of, you know, testing this insecurity on daily basis, 24 hours a day of every day. Do you give them any website package for all those things that day? And the answer is no. So in some of this, you begin to think that we must, in a way, you know, encourage these security officers, like Nigerian police, especially in order to begin to do more. They are human beings like me and you. And some of us traveled for X-mas, New Year. They did not go anywhere. They were in town, you know, testing and making sure that there is security in Imo State. But as I said to you today, they are trying and we must encourage them by opening me. All right. Can you also share a little bit about the political angles to it? I know you mentioned earlier that what's most important is that police carry out the investigation and they're able to arrest some of these suspects and whatnot. But, you know, is there anything you can share about the political angles, you know, if any concerning these issues? The Rocha Sokorocha, Uche Umoso, you know, who also had some issues sometime last week when it was arrested. And of course, Opus Adima, are there any political angles that need to also be addressed for peace to reign in Imo State? Well, I look at it that this whole issue of political angle, political situation, is neither here nor there. Because as far as I'm concerned, you have been a one-time governor and you're no longer a governor in the state. So I don't see the reason why there should be confusions or problems between the past governor and his governor or the potential administration. Your time is up, your time is up, there's no two ways about it. So you don't have any, even if you have any ambition, you should be in the near future.  For example, Conspiracy is just only that in Nigeria, we play politics with everything. And remember that we say that when two elephants fight, it is in grasses that suffer. And that is why we are calling on the Imo State government to actually do the needful. Since they have said it, that they know people, that some people that are behind the intercourse challenges in Nigeria. Imo people are waiting patiently to hear their names. Imo people want to know who and who is their enemy. There's no two ways about it. Let me say the one thing. And let me answer this question. You were saying that the situation is not like you did before and all the rest. Yes, I agree with you. There have been a level of advancement and improvement. But as I said to you today, once it is 6 to 7 p.m. in Imo State, everywhere is deserted. Unlike before, how Imo State used to be. Everybody, if you have been to Imo State before, Imo State is a city, especially Oweri, where you go and stay and for tourism, for enjoyment and all the rest. That's why I say because it is the same as it was before in this country. But now it is no longer like that. So what is happening? People are afraid. All right. So Justice Uwegwu, we thank you for your time. Thank you for giving us some, and of course, there's much clarity on these issues. We will, of course, continue these conversations and we hope that security agents are on their feet and we'll be able to make sure Imo State is safe again. Like you also mentioned, the political angles with regards to former governor, his son-in-law, and the current governor, some of all those things would also need to be brought to the table at some point. So we can at least ensure that there is peace in Imo State and the rest of the Southeast. But thanks very much for your time and we wish you a very interesting day ahead. We're going to move away from the discussions on Imo State and move to other topics of discussion this morning. And that is mostly with the fight against corruption. In the last few weeks, you must have followed the Auditor General's report and almost daily updates with regards to it. You know, it's either there is a nine billion Naira that has been misused by the National Assembly or 3.2 billion Naira that seems to have gone missing to pay to ghost contractors in Nigerian police force. And also yesterday, 127 billion Naira, unremitted by customs and immigration in Nigeria, all by the Auditor General's report. The question is, will the Nigerian government take action? Or are these some of the stories we just read and move on from? We'll talk about it when we come back.


The Akoska Naval Base is decking the halls this holiday season at the historical base headquarters building. With Christmas music and carols, more than 30 decorated trees and photos with Santa and performances by choirs and dance groups, there is something for everyone during this year's Festival of Trees. The best thing about Festival of Trees are the trees, looking at the trees. Everything is different. All the decorations are unique to the command. The schools have handmade decorations. There's a lot of pictures of sailors. Everything is just different. There's no tree the same. Santa's here all day, both days, for photos. This is the first year dance groups have performed at the Festival. Reporting from Akoska Naval Base, I'm Petty Officer Chase Hollick.


with authentication, the idea is that we want to be able to check at the receiver that the message we've received is not being modified and it comes from the person who they claim they are. They're not pretending to be someone else. So we want to prevent modification and masquerade attacks. And the approach, the general approach we do is we take our message that we're going to send and we attach some extra information. That extra information allows the receiver to detect if anything's been modified or not. So we can't stop someone modifying the message, but we can check that it's been modified. So this is detection. So one approach for authentication is to use message authentication codes. We said before, even without Macs, that if we just use a metric key encryption, we can have authentication if the receiver can recognize the correct message. But there are problems with that. So in practice, it's better to add some extra information like a Mac so that for sure the receiver can check if the message is modified or not. So a Mac function takes as an input a message and a key. So here in this example, the top one, we take a message as input and we apply a function on that message using a secret key, not an encrypt key, but a Mac key in this case. And that function produces a fixed length output, random looking output. And we have some required properties of that function is that if we take two different messages in, it will produce two different outputs. Or if we use two different keys, it will produce two different outputs. So if we change M, even using the same key, the output Mac will be different. If we change the key using the same message, the output Mac will be different. That's the properties that we want of our Mac function, such that in the top case, we calculate the tag or the Mac value and we send both the message and the tag attached to the message, just concatenated to the end. And what the receiver does, they receive the message, they receive the tag at the end. They know the key, so it assumes that we've shared a secret key, a secret Mac key in this case between sender and receiver. And what the receiver does is calculates using the same Mac function on the message using the known key and they get a calculated tag as output. And that calculated tag should be the same as the received tag. Because of these properties, if the message was modified, the two M's were different, then the tags would be different. So in the reverse, if we see that they are the same, the tags are the same, we assume the message has not been modified. And similar that if we're using the correct key, we're using the key shared between, let's say user A and user B, then if the tag receive was calculated using that same key, came from user A, then if the tags, when we compare them match and it tells us that the receiver, the message hasn't been modified and it came from user A. It came from user A or user B. But we are user B, we know we did not send it to ourselves so we can imply it came from user A. So that's what we do to apply a MAC. If they don't match, something's gone wrong and we don't trust the message. We discard it and maybe take some action to inform A. The message that was just sent didn't validate. Now, in practice, a MAC function, we said we require the property two different inputs, produce two different outputs. Because in practice, the MAC function produces a small length output, but takes a large length message as input, then it's possible in theory that two messages will map to the same tag. The security of a MAC function depends upon how hard it is for the attacker to find such two messages. So we have a large tag length, it's very hard for them to find two messages that map to the same tag. And we'll come back to the bottom to finish this topic, but the security of the MAC, there are two measures. If the attacker can find the key, they can defeat the system because they could create a modified message and calculate the tag of that modified message because they have the secret key. So one way for the attacker to defeat the system is to find the key. How much effort's required? A key of length k, two to the power of k operations. So how to stop that attack? Make the key long, in the same way as encryption. Another attack is try to find a tag without the key. And there are some attacks that try to do that. Maybe the important point to summarize here, if the tag, the MAC value produced as output, is n bits long, then the amount of effort such attacks take is about two to the power of n. So the attacker has two ways to defeat a MAC. Find the key or find the correct tag given a different message. The amount of effort it takes depends upon the key length or the tag length. And the security of a MAC, therefore depends upon the minimum of those two. So down the bottom to defeat a MAC, if the key length is k of 40 bits and the tag length is n of 30 bits, the effective strength of this algorithm is equivalent to 30 bits because that's the easiest approach for the attacker to take. So it's the minimum of those two. So in general design a MAC scheme where the key is large enough, such a brute force is not possible, and the tag is large enough. And large enough typically is in the order of 128 bits. Brute force 128 bits is not practical nor is trying the brute force attack on the MAC value with 128 bits. And MAC functions can operate on 128 bits and also larger like 256 bits. Let's go back to those two schemes down the bottom. So two examples of applying a MAC. The top example, and we went through in some depth of this top one, we went through the case, what if the attacker modifies a message? What if they try to masquerade as someone else and we saw that, well, we detected if our properties hold. Note that the top scheme doesn't provide confidentiality. It's only for authentication. The attacker can still see the message it's sent in the clear. Sometimes that's okay for us. Sometimes I want to send a message and make sure it's not modified. I don't care if other people know what the message is, but I want to make sure that it doesn't change along the way. The bottom two schemes both providing also confidentiality. They encrypt the message. So the bottom two schemes, what we commonly refer to as authenticated encryption, we encrypting the message for confidentiality plus we're doing authentication. Remember, if we just encrypt a message, authentications only provided if we can correctly recognize the plain text, but we don't want to rely on that. So these two schemes at the bottom are quite common today. For encryption, we don't just encrypt the message, we also calculate the MAC on the message. And there's some subtle differences between the two with respect to security. Let's go through what they show first. The middle scheme. We take a message. Note that C in this picture indicates calculate the MAC, produces a tags output, E encrypt. Let's say using AES, a symmetric key encryption algorithm. The middle scheme, we take a message, we calculate the MAC using some key, K1, a secret key that's known by AMB. We take the message, concatenate with the tag, the MAC value, and then we encrypt all of it together using a second key, K2. So we actually have two shared secret keys here. We send the ciphertext to B and B decrypts, and then validates the MAC. So in this approach, we're calculating the MAC and then encrypting. And the approach for this authenticated encryption is called MAC then encrypt. Calculate MAC, encrypt it all. So what's sent across the network is shown here, it's the message concatenated with the MAC of that message using key K1, and all of that is encrypted using key K2. So what the receiver B does, they decrypt, and as a result of the decryption, they get the message concatenated with a tag and similar to above, they compare the received tag, this part, with the calculated tag, and if they match everything's authentic, if they don't match, don't trust the message. So this one's similar to the top scheme. Calculate the MAC of the message, but before we send the message in the tag, we encrypt it first. As a result, the attacker that intercepts this, they cannot see the message, it's encrypted with K2, they cannot decrypt because they don't have K2, and we can verify the receiver that nothing's been modified using the MAC. Any questions on the middle scheme? We're just combining our MAC from the top scheme, plus also encrypting our data, so we have confidentiality. We're assuming the keys are secret, okay? So when we discuss this scheme, and same with encryption, we assume that if we have a shared secret key, that it cannot be discovered by the attacker. If we have a key long enough and it's chosen randomly, then they need to do a brute force. Now, we know from before we have a problem of exchanging a secret, and we have Diffie-Helman and it has its limitations. So, but for now in this scheme, we assume somehow we have exchanged a secret. So there's no way to find the secret. In here we have two secrets, K1 and K2. They could be just two random values. So user A generates K1 and K2, two random values, maybe 128 bits each, and somehow has in the past distributed those values to user B. So user B also knows K1 and K2. If the attacker finds either one, this scheme can fail. Of course, using the Mac here is better than not using it at all. If we don't have the Mac at all, we just take the message encrypt and decrypt. The problem with that approach is that, how does the receiver know when they decrypt if the message they get is the correct one or not? Well, because some messages have structure, like an image or a text message, we can check, but that's a lot of effort to manually check that the message is correct or not. So the Mac provides this automatic detection. So including the Mac means the receiver for sure can check if this message is correct or not. The bottom scheme provides about the same functionality as the middle one. There's some subtle differences in security, but let's first see what we do. The middle one was we calculated the Mac and then encrypt. Here we encrypt and then Mac. That is, we take our original message M, we encrypt with a secret key, K2, we get ciphertext as output, we calculate the Mac on the ciphertext, we'll get a tag as output and we'll have the ciphertext and we concatenate the ciphertext and tag and send them across the network. So down the bottom, you see what is sent. This is the encrypted message, the ciphertext, and this is the Mac of the ciphertext. Whereas in the previous approach, we calculated the Mac first, the Mac of the plaintext. And send the encrypted plaintext and Mac value across the network. Here we calculate, we encrypt the message first, get the ciphertext and calculate the Mac on the ciphertext. In both cases, the message is encrypted. So we have confidentiality. And in both cases, we have a Mac. So the receiver can confirm if anything's been modified. We see in the second case, we receive the ciphertext, decrypt that ciphertext. Actually, we can check the Mac first. We receive the ciphertext, we receive a tag and we calculate the Mac on the ciphertext using K1 and compare the values. If they match, everything's okay with the ciphertext and then we can decrypt the ciphertext. Which one's better? Middle one or the bottom one? What's different or what's better about the bottom one? It does it in parallel. We can decrypt and do the Mac separately. They don't depend upon each other. That's maybe one part and closely related to that. One thing we can do is we can avoid the decryption if the Mac doesn't match. Okay, so let's say we calculate the Mac on the ciphertext and we compare them and they are different. So there's no need to decrypt because we don't trust this message. We save maybe a small little bit of computation in not having to decrypt. And it means we will not even look at the plaintext. We know something's gone wrong already. So yeah, there's a little bit of an advantage from the receiver's perspective there. Whereas in the middle approach, we must decrypt at the start. So we must do decryption and then we do a check. And we may do a check and then find everything's wrong. They don't match but we had to do the decrypt to do that. Often decryption can be slower than calculating a Mac. So there's a small performance difference there. But not significant in many cases. There are some small differences in security in that the bottom scheme can protect against modified ciphertext. So we have chosen ciphertext attacks. There are some attacks where the attacker chooses a ciphertext of a particular value to try and take advantage of the decryption process. Well in the bottom scheme, if the attacker modifies the ciphertext, we'll detect that straight away. Whereas here we do the decrypt on the modified ciphertext. That is, in the middle scheme we send the ciphertext, the attacker modifies it, the receiver decrypts that modified ciphertext. And there are some attacks that can take advantage of if you decrypt a modified ciphertext, the attacker can learn something. So in the middle scheme, we decrypt a modified ciphertext. And that can be an issue in some specific attacks. In the bottom scheme, we get a modified ciphertext, first we check if it's been modified, and we find, yes, it's modified, so we don't decrypt. So in very special cases, when the attacker can do a chosen ciphertext attack, the bottom scheme becomes beneficial. But in practice, in most cases, there's not much difference in security, both are okay. And only in very special circumstances would you need to distinguish between the two. So both are okay. In theory, the bottom one is slightly better. In practice, sometimes people have made mistakes in implementing the bottom one. So in theory, even though it's better, if you make a mistake and implement it wrongly, then you get no gain. So people make arguments for both of them. Both are okay. And in fact, both are commonly used when we encrypt data. When we encrypt data, we don't just encrypt it, we also use a Mac. In our last lecture or our last topic, we'll look at internet security, and we'll see some examples where we use AES and other ciphers, and we'll see Macs are often applied as well. So the middle one is called Mac then Encrypt. We calculate the Mac and then Encrypt, and the bottom one is Encrypt then Mac. We do the Encrypt and then the Mac after. Any questions on those two schemes? Do you have to do these? Well, you should be able to look at such a picture and explain how they work, to explain if the attacker does something like modify a message, why does the receiver detect that? We went through with the top scheme, several cases. What if the attacker does this? What if the attacker modifies a message? What if they try to use a different key? Why does this scheme work? Why does it detect the modification or masquerade? And that's what I expect with these authentication schemes. Not necessarily to remember these schemes, but I may give you such a picture and an exam and ask you, explain why the receiver can detect if there's a modification attack. So I think I don't require you to remember these pictures. You'll see in past exams. Let's finish by just briefly mentioning well, what Mac functions are there? We've talked generally, we apply a Mac function on the input message with a key. How do we implement Mac functions? There are different, there are many different Mac algorithms and there are some ones which are considered secure. That is, there are no attacks which are better than either of these two. So they depend upon the length of the key and the length of the tag or Mac value. What are the names of those algorithms? We will not go through any in step by step. Some are listed here. Many of the Mac algorithms are based upon symmetric key ciphers. Very similar, a Mac and a symmetric key encryption. Symmetric key encryption, take a message and a key, produce a random looking output, the ciphertext. A Mac, take a message and a key, produce a random looking tag. And similar properties, two different inputs, two different outputs. So most of them are based upon symmetric key encryption. There was something called data authentication algorithm, DAA based upon DES, one of the earlier ones, but considered insecure. So that was based upon the earlier DES. And then there's different algorithms that use symmetric key ciphers in different modes of operation like triple DES or AES. So cipher based message authentication code, CMAC uses existing ciphers and apply a mode of operation such that a fixed length output will always be produced. And there's others, many others. There's OMAC, PMAC, UMAC and so on. So they usually take existing algorithms and modify them just for the purpose of a Mac. CMAC, OMAC, PMAC, UMAC, VMAC and HMAC. HMAC is one we'll see come up in some practical cases and we'll need to talk about the next topic to understand it. HMAC uses existing hash functions, not existing encryption functions, but existing hash functions like MD5 in the past and char and takes those hash functions and turns it into a Mac function. What a hash function does is takes a message only as input and produces a fixed length random looking output, a hash value. So a hash function we'll see in the next topic takes just a message as input. A Mac function takes a message in a key. So what HMAC will do is use existing hash functions, the uppercase H here, take a key as input and do some operations such that it produces a fixed length tag as output. So we'll see HMAC come up in some examples, but it turns a hash function into a Mac function. One of the reasons for using hash functions is because people have studied some hash functions in a lot of depth and they understand their advantages and disadvantages, so it makes sense to reuse them. To understand HMAC, we need to understand hash functions. So that's our next topic.


Willkommen zu dem Talk out of the Dictionary of the, out of the Swerver Dictionary of the New Right by Josh Lingerist, who is using several methods to find, yeah, out about hate speech. Your interpreters are Kiety and Miss Sensei. We'd be very grateful for feedback. Yeah, we will see what right political currents are doing to make people think their way. Welcome to the, to Josh. Thank you. Good evening. My name is Josh. I am a paid ruminant of propaganda rubbish in the area of Blabla Science at a highly criminal, completely down-minded sponsor in a city in Orientalistan. I'm hacking, yes, sir, long active in the bloody hacker's nest in the city of the movement. I am researching language and the politics of ... A lot of these words, terms I've just used in my introduction, I've got via e-mail and some I've also interpreted myself. So, a little bit of a manual for this lecture.  But I changed my attitude to investigation and since then I've been doing much better. So, I want to do this in an analytical way and in a subversive way. And I think that the disgust and outrage of the mainstream society is part of the strategy and calculation about resonance. It's the right thing people are using and I don't want to give them this room of resonance. And the question which comes up for this talk, do I not reproduce the stereotypes when I'm using these insults and this hate speech and the short answer is yes. But hopefully if I take these terms out of their context and within condensing them I will be able to point out the absurdity of this worldview where these terms are coming from. The second question which comes up is do we actually need to show all of these words, all of these terms. I decided to do this because if I had left them out, this presentation would be very hard to follow and not have the same level of persuasion. I have reduced enormously the terms used for minorities but leaving them out completely that would reduce, like they wouldn't be able to point out how harmful this ideology is being. A third question that is important I think is are we able to laugh about it? First of all I don't think it's possible to completely avoid this because the terms, the right people, right when people come up are very comical. And on the other side I think laughing can be a way to subvert this strategy of the new right. They are trying to follow with these terms and at the same time this ideology is against our legal system and has high consequences. So what methods did I use to investigate this language? So the first question is who is the new right? And with formulating this speech and also when I titled this speech I said Neue Rechte, new right and I didn't capitalise it because I'm not using the academic term, where it's capitalised and referenced that, where it's a movement which formed in the 1960s or started in the 1960s which is intellectual right wing extremism or maybe the area between New Controvertism and right extremism. And I also think other terms might not fit perfectly because that doesn't apply to the online world precisely. So we are looking at topois, statements that reference each other and show up again and get again. And these topois we are looking at is anti-feminism, racism, discrimination of all types of minorities. None of this is new for the new right. And what is new about this is how popular it is and how much Rechte it has, which has been increased since 2015. And at the same time it's not only my personal point of view, but I wanted to look at the interview from those who are looking at themselves. So I have this head parade from Appleblocks and this statistic is according to numbers which was done by a web tracker. And from these blogs and news pages the yellow highlights, the yellow highlighted ones is the ones I scraped and looked at their comments. And yeah, it just goes down. There are coming a couple more. And there is a couple more which aren't showing up here. And anonymous news for example or compact, their websites. And they are also used here and I used 29 different sites and their publications and their comments. How did I analyze this? I used automatic recognition because automatic recognition isn't that super useful here because all terms can be used as hate speech or as insult depending on their context. So I needed to look at the specific context for these words if it's actually about hate or if it's also used in other ways. And they looked also mainstream newspapers and also more diverse websites and looked at which terms are significant statistically in which types of media. And still not all of them, all of these hundreds of thousands of words aren't specific to the sites and not all of them are insults. So I also did a parsing where I looked at the terms which came up a lot. So and I checked out whether they are actually relevant for hate speech. Yes we have here for example rhombus, we have the word good which is good, which is occurring a lot of times. We have many laxums which contain the word climate, like climate change, climate movement etc. But often we also have endings like Ian, we have islamania, adogania, africania. And we also have very sexualized words like perversistan, fagofistan. So we could find different strategies of how those words are made. The first one I want to introduce is the use of quotation marks to show a distance from what the word actually means. For example here we have about Claudia Roth, the word conceded Trudy. And the word educated, which is in hyphens, in quotation marks, sorry. We have the same sometimes in the word CDU, which is the name of a German party. So for example with the C where they doubt the Christianity and the D where they doubt the democracy. And sometimes even they doubt that it is a union and also put quotation marks on the U. Another graphomatic medium of making words is putting different parts of a word in capital letters. Here you find part of the word government in capital letters. Here they find in the words of receiver of elementary typical Arabic first name, which is Ali. Here we see the name of a German politician, what in the name are brain prostheses. And here we have also the CDU highlighted in something called Eugel, Germany Hater. Another graphomatic medium of making words are stars or points, which are there instead of certain letters. So often there are as many stars as letters that are not written. Here you can see another art of doing it, so those stars don't actually mark another letter, but they are probably there to make this word not sorted out by a certain search in the Internet for slow words. Here we see a very obsessive form of gendering. So they are like gender stars and underscores and the German female ending in. Here we also see this kind of star, but here it should be like the star and half moon, like in the Turkish flag in the acronym of the party CSU. The next medium to make words I want to show is that part of the word is used with other words in brackets. Here we have Claudia Roth, the German Titian again, and she is called Claudia Snoth here. Again we have the CDU, the chaotic, debile undemocrates. As I said before, the new right likes to use certain endings and those endings have the function to devalorize certain things. So we have here, for example, the ending Land. We have this on many words, like also on a word for asylum seeker in German. Other endings are Ling, Larry, Stan etc. We will see others of that. Here we see that actual words who are positive in their basic meaning are used in a bad contents. For example, here we have many things with the word gut. We have gutti, gutest, godown, etc. And this is used for the whole word field. So we also have the good German, good willing, good city, feel good and gender giddy. And in the end this word with good, a negative word as well. Also we have this gendered language. Actually at no place there is gendered more than a new right commentary comments. So for example this thing with the gender acts is used in the new right comments more often than in actual other contexts. We have a lot of exaggeration, so a lot of use of the hyper bowl. And you can find this in the words as well. So I want to show some parts of the good man. There can be the super good man, the super duper good man, the ultra good man, the super giga very good man, the super hyper extra positive good man, the super ultra mega top good man, and the good better man, the better man, the better woman, the better woman, the better vox man. It's quite difficult, I'm sorry. But you can do it much in the German language. Also super better man, the Aryan better man, the world better man. And where the better man is there, you can use the best man, the best man and so on. I won't read it anymore. We have here the super good best man, the super good best green man and so on. Yeah, you can do that all the time. Super super good over high working best man trademark. Of course none of these words are meant in a positive way, they are all meant negative. And often those words are changed by mixing two words and they want to make one word more negative. Here we have migrant and rat and we have something like migrat in the end. Hier, we have a journalist and a rascal and we make a rascal out of it. And out of the journalist and the demagog, we can make the demagog. And also a way to dissociate the words is to use words or like letters from other languages like the Turkish you to reference that a word might no longer be an actual German word. Like here in Berlin-Kolzberg, which is a part of Berlin in Berlin-Kutsburg pretending to be Turkish. So they also add letters or change the word just a couple of letters and that attributes an attribute to a person. For example, here we had Marionetta, which is a name, but it's about how this person is being directed with this change of word. Here we have Barack Obama, which wants to point out that he might not be an US-American. And another very popular thing to do is composition words, which is a very popular thing to do in the German language. So we are just combining two words. So there is this word asylum import Merkel. So it's pointing out that Merkel is just known for this one attribute, which is taking in immigrants. So here we have this word Volksturtrautenhexel, which is created from national deskromper switch. And here we have a very, very long term, which is multi-quarty hail to the refugees. Self-hate is our redemption of bad Nazi Germany. Or another example is I'm traveling over half the world through many safe countries to get to the state with the best social system refugee asylum swindler. So, and we are looking at these strategy to create new words. It's also very interesting to look at their world view. And if you're just looking at the geography, you could maybe think the geography looks like this. Aber in truth, it's a little more diverse. It actually looks like this, so is there Trumpland and Putinland, and in between there is Arabia, where Germany is a part of. Below Trumpland is very far away-stan, and Oceania is called Norway, Australia, and then there is Shatollistan, which is actually a term triggered by Trump, influenced by Trump. So, looking at Arabia, we have the EU, the SSR, the Multifikifiki, Europa, Kalifat, and Africa, Arabistan, and the demanding Orient. So, then there is, it's differentiated between the individual countries which then have their own deregate terminology. So, looking closer into Germany, which is very dear to the new right. So, who would hope for positive terms here, but also the German states are actually having a lot of insults associated with them. So, we have Hamburg, the free-knife-fight city of Hamburg, the invasor city, Shatoll-Hamburg, etc., and also if we look to North Rhine-Westphalia, we see here, North Rhine will fall, North Rhine-Arabia, which isn't really better, also called Mord-Rhein-We-Pay, or North Catastrophalia, etc., Berlin also has a lot of bad words. We have the good man's salier, Berlin's slum, etc. But if we go away from the geography and look at the state, and now we ask ourselves what the picture of the new right is of our governmental Germany. We have the people from which, which is also used many bad words. We have animal metaphoria like cattle and sheep, but also we have metaphoria for being stupid, being thump, also things with sleepy, because sleep obviously also is something they tell. Now if we here see the three pillars of the democratic state, we also find many words that show that the government is compared with the GDR government. We have something like FRGDR-Hunter, NIO-SED, and often they criminalize the government like Krupp government or governmental terror. They often say that the government would be directed from elsewhere. They talk of a marionette government. And in the end there is just slur words also like government prostitutes. Also the people working for the government are, there are many slur words for them. Also they use many words with, with traitor of the people. They call the parliament people's traitor place, but also like the place of the parliament of the SED number two. And they also have bad words for the elections, like election simulation, election cult. The same is, if we look to the Decatur, there are a lot of slur words for judges. And also for the courts there is the national court of trade, trading. And also for the police and the way in which law is made. There are a lot of bad words. Often saying that the law wouldn't be, would be too soft. So also in the mathematics we see a lot of new ideas. So there is formulas, which we can see, referencing Nazi Germany and totalitarianism and pseudo-mathematics, where you amplify stereotypes and make them more like pointed out. So if you say colorful and tolerant and diversity, they say it's a dangerous place. There's more examples. So here's Merkel plus repopulatization equals racism plus genocide. And there is already a new right-wing terminology within this equation. And if you change this fake equation around, it doesn't make any sense anymore. So another thing is house and, yeah, that's also a very relevant field, where we are looking at that being used to deregatate minorities. So either the people are praying to the migration or to a religion, or they are just ill. Here we have different kind of illnesses that the people are befallen with, psychic and behavioral disorders, infectious and parasitic diseases. Diseases of the digestive system and skin disease and then also some, yeah, actual symptoms that we haven't discovered yet, but they are very creative here. I don't want to go through all of that, but we find a lot of new manias and neurosis, like the saving the world mania, the guilt neurosis. But also in the part of the abscesses, we are talking of Islam, we are talking about invasive cases, invasive multi-culti-counter abscesses, et cetera. Those last examples show that the Slur words take the words from usual words and from words like that are contrary to each other, like ill and sane, et cetera. On the one side we have the reference to good and on the other side we have the reference to mental illnesses and delusion. So it's also about being irrational and Frankfurt references being health. Again, linksversiv is a term for experiencing cleanliness and there is a bunch of examples which show up again and again. So if you are looking at a lot of these terms, then there is these fields of duologies we can build up here. So it's religious versus rational. It's female versus masculine. I always name the positive things for the new right first and then the bad things last. You might find a pattern here. There is criminal versus legally obliged. There is the elite versus the simple people and so on. So, let's get to some final thoughts. So we have looked at this universe of 2000 der regular terms used by the new right. The new rights pretend to be patriot, but it's obvious that they do not really like the country they are living in. They don't only dislike the country, but also the people who are living in it and also the democratic institutions. So this is the 30 minutes, just the tip of the iceberg and there is so much more and I've identified a lot of those more and it just never stops. Social movements have always left their traces in language history. So in the sixth, like serious slogans from different types of social movements. If you look at women's rights, we see influence with gender terminology and I think the new right will be known for their hate speech. So what can we learn from how the new right uses these terms? There is a use case to the inside because der regulatory everyone and everything is the smallest common denominator for this group. They are trying to find more and more radical terms to be more and more insulting because it's one of the things which actually brings them together as a community. So we also need to look at these terms in the context of the attention span and it's also about getting the attention from the public and resonance from the public. So if we have this analytic view I try to give here, I hope we can counter this strategy by finding a resonance in the public. Thank you for your attention. You've been or you're still listening to the translation of the dictionary of insulting right-wing speech and if you have feedback, you can contact us on Twitter using the hashtag C3T or send us an email at helloits. C3lingo.org and we will be continuing on with questions.  How does the new right call Hecker? Heckers. Well, I actually have to look this up. There isn't a lot of terms for Heckers because there is some level of respect. Well, a tiny level of respect at least. But I will just look it up. Give me a short second. So yeah. I'm finding, well, it's a bit funny, well, actually not that funny. It's cutting off the head, which also includes about Hecker in German. But I don't think you are actually meant by that. Mikrofon 2 bitte. I'm interested if there are analogies to the left spectrum and which those words are. And the second thing is what does the new right like? Is there anything they do like? That's a good question. I can't answer the first question because I think, well, there is the regulatory terms for people in power and that's always been a strategy of people without power. So I think this is visible in all political spectrums. But I don't think it's there in that much detail with the left spectrum as well as the right spectrum because there is this style of communication which is developing there which is not comparable to what is done on the left spectrum.  So, second question again. So the areas I was looking at, I was looking at insults, I didn't find out anything they are liking except for the AfD, the alternative for Germany. You said that they insult everyone and everything, do they also insult themselves? It would be a fiction to think it's a homogenous field which just support each other. And there are some people who are radical, some who are less radical and they are also fighting amongst each other. So, yeah, obviously, there are also der regulatory terms for each other. Die Frage ist, wie du deine Gebäude hast. How did you find your sources which blocks did you choose and the second question is how big was the corpus with which you worked to add this corpus to mainstream media? Ja, I think you came a little late because as I've said before I've looked at Apple blocks and which one was the most popular. So I've also added some newer ones and there is I think 22 million words inside and I've cross-referenced the Spiegel online, Zeit online and also big discussion boards. I don't know if the question is already answered but did you find out how they describe things as positive because it seems like every word that is used to say a positive thing is used to devalue something is there anything that is connotated positively? Ja, I think that's a practice which makes the people feel good. It's their only way to feel good to insult others. So if you look at comments and if you look at the text they don't feel good in this Germany. They don't feel well. They want to get rid of it. So what else is there except for publishing these comments and they do appear to enjoy it and there is a lot of creativity and one would hope that they would invest this creativity into other things and for us it's an interesting field of study. Do you only find this kind of speech inside of the net or is it also outside? Ja, I was in Dresden at this time when this really started. So you also hear it on the streets and you hear it in restaurants in bars just everywhere. But that isn't as easily like you can use machine learning to study it. Is there an effect if you try to hold against it or is it bad to just refrain from joining a discussion? I don't have done studies on that but I think I'm convinced that this is a strategy of provocation and it is looking for resonance and I think we have to avoid this area of resonance. So I think scandalizing is not helping out so I think the way to go is ignorance and blocking it out. One other question from the internet they are rather pessimistic how do you keep your hopes up? I have to say I was more helpless before I did this analysis and throughout doing it if you not just keep looking at individual things and if you are putting this into patterns and look at the worldview and that is kind of relieving because I think it's not in itself as dangerous it's not inherently dangerous but it's also concerning that the acceptance of violence is becoming more popular and it's being apologized as being just a natural reaction to things and that isn't as visible in just looking at specific words in terminology but this is also very much concerning to me. Also all those answers and insights I want to end this talk you can give us feedback under the hashtag c3t thank you


You are the winners of our Euro Areawide Competition on Monetary Policy, which is now in its seventh year. You are very important because you are our future. Us young people in Europe, we have always lived with extremely stable prices and so we take it for granted, we take the work that ECB does for granted because we have stable prices. So we wanted to explain to the youth of Europe how that ECB ensures price stability. We would like to know if you enjoy what you do for a living and if it is very stressful to cover in the ECB. I certainly enjoy what I do. No doubt, no doubt about that. It's enjoyment certainly with a big sense of responsibility. We'll have an important role to play in tomorrow's Europe, but that role, that responsibility, starts today. You give us the only hope for a better future, but you also inspire us to continue our work.