1 00:00:00,000 --> 00:00:05,000 Delta Shara Charley, 7-4-2. 2 00:00:05,000 --> 00:00:10,000 With $16 billion worth of airplane strapped to my ass, 3 00:00:10,000 --> 00:00:13,000 then the next generation radio contenting my ears. 4 00:00:13,000 --> 00:00:16,000 We don't need not seeking forgiveness. 5 00:00:16,000 --> 00:00:19,000 I like to think I'm flying to the future. 6 00:00:19,000 --> 00:00:22,000 I guess it's a happy curry. 7 00:00:22,000 --> 00:00:25,000 Come on, they're more on its brand new day. 8 00:00:25,000 --> 00:00:28,000 Come on, they're more on its brand new day. 9 00:00:28,000 --> 00:00:31,000 Come on, they're more on its brand new day. 10 00:00:31,000 --> 00:00:33,000 Come on, they're more on its brand new day. 11 00:00:33,000 --> 00:02:46,000 [ Music ] 12 00:02:46,000 --> 00:02:48,000 And good morning. 13 00:02:48,000 --> 00:02:49,000 Good afternoon. 14 00:02:49,000 --> 00:02:50,000 Good evening. 15 00:02:50,000 --> 00:02:51,000 Hello. 16 00:02:51,000 --> 00:02:53,000 Good day to you tomorrow. 17 00:02:53,000 --> 00:02:55,000 Daily source code episode number 742. 18 00:02:55,000 --> 00:02:58,000 Coming to you from the affluent suburb of Surrey. 19 00:02:58,000 --> 00:03:02,000 In a cloudy and an overcast killed for it. 20 00:03:02,000 --> 00:03:04,000 West Side of Gtown. 21 00:03:04,000 --> 00:03:07,000 Wow. 22 00:03:07,000 --> 00:03:09,000 I've always missed that part on that record. 23 00:03:09,000 --> 00:03:10,000 Hey, everybody. 24 00:03:10,000 --> 00:03:11,000 How are you doing? 25 00:03:11,000 --> 00:03:13,000 Folks listening to the podcast version of the Daily source code. 26 00:03:13,000 --> 00:03:16,000 Those of you checking us out live on live 365. 27 00:03:16,000 --> 00:03:18,000 Having its usual problems. 28 00:03:18,000 --> 00:03:20,000 People not being able to connect. 29 00:03:20,000 --> 00:03:24,000 Kind of pisses me off because I went for the 99 dollar a month option. 30 00:03:24,000 --> 00:03:26,000 I actually paid a year in advance. 31 00:03:26,000 --> 00:03:28,000 Could I figure, you know, well, it's a little bit cheaper. 32 00:03:28,000 --> 00:03:29,000 Why not? 33 00:03:29,000 --> 00:03:30,000 I've used them before. 34 00:03:30,000 --> 00:03:32,000 But I've never seen these problems with these guys. 35 00:03:32,000 --> 00:03:34,000 Last time I used their service was pool. 36 00:03:34,000 --> 00:03:36,000 I don't know. 37 00:03:36,000 --> 00:03:38,000 Maybe a year and a half or two years ago. 38 00:03:38,000 --> 00:03:40,000 So they're with me hanging there. 39 00:03:40,000 --> 00:03:42,000 We're doing the best that we can. 40 00:03:42,000 --> 00:03:44,000 I feel kind of anxious today. 41 00:03:44,000 --> 00:03:47,000 And, you know, woke up and I don't know. 42 00:03:47,000 --> 00:03:50,000 I'm just feeling restless really. 43 00:03:50,000 --> 00:03:53,000 It's an unrest throughout my entire body. 44 00:03:53,000 --> 00:03:55,000 And I'm trying to pinpoint this. 45 00:03:55,000 --> 00:03:57,000 You know, I'm examining these feelings. 46 00:03:57,000 --> 00:03:59,000 I think what is really going on with me. 47 00:03:59,000 --> 00:04:01,000 And I think there's a number of things. 48 00:04:01,000 --> 00:04:05,000 And a lot of it is just the conversations we're having on the tanty source code. 49 00:04:05,000 --> 00:04:07,000 A lot of this stuff was really freaking me out. 50 00:04:07,000 --> 00:04:09,000 I mean, not like I'm tripping. 51 00:04:09,000 --> 00:04:12,000 But just, you know, my mind keeps on going. 52 00:04:12,000 --> 00:04:18,000 It's very, very hard to stop thinking about all these different conversations. 53 00:04:18,000 --> 00:04:22,000 And, you know, it's a fact. 54 00:04:22,000 --> 00:04:30,000 I feel, or at least for me, if you start to get some information overload on particular topics. 55 00:04:30,000 --> 00:04:37,000 Those of the complicated kind, or perhaps even those of the conspirator kind. 56 00:04:37,000 --> 00:04:41,000 Your mind starts going pretty far. 57 00:04:41,000 --> 00:04:46,000 And luckily I've been getting a lot of, you know, a lot of the contrarian views. 58 00:04:46,000 --> 00:04:49,000 And a lot of these topics we've been talking about the multicultural society. 59 00:04:49,000 --> 00:04:54,000 We've been talking about, well, that's why I played Good Morning Freedom about our own freedom. 60 00:04:54,000 --> 00:04:55,000 How free are we? 61 00:04:55,000 --> 00:04:59,000 What is the status of our freedom of speech and freedom of expression? 62 00:04:59,000 --> 00:05:03,000 The financial crisis. 63 00:05:03,000 --> 00:05:10,000 You know, thoughts of taking DNA from kids in a term if they're going to be troublemakers later on. 64 00:05:10,000 --> 00:05:14,000 I mean, just saw this stuff and it's very hard to weigh exactly what is happening. 65 00:05:14,000 --> 00:05:15,000 What isn't happening? 66 00:05:15,000 --> 00:05:16,000 What's true? 67 00:05:16,000 --> 00:05:17,000 What's not true? 68 00:05:17,000 --> 00:05:18,000 Where the half-throughs? 69 00:05:18,000 --> 00:05:20,000 Where the word of the half-truths intersect? 70 00:05:20,000 --> 00:05:22,000 It's complicated. 71 00:05:22,000 --> 00:05:26,000 So luckily, though, today, we're going to get through a lot of this with some excellent feedback 72 00:05:26,000 --> 00:05:31,000 and some great comments and some good questions, which is really the best thing to do, I think, at this point. 73 00:05:31,000 --> 00:05:34,000 And it'll really come down to education, I think. 74 00:05:34,000 --> 00:05:41,000 Remember, this is a political, politically correct free zone on the daily source code. 75 00:05:41,000 --> 00:05:44,000 This is where we talk about anything and everything and everything goes, no name calling alive. 76 00:05:44,000 --> 00:05:46,000 Hey, Adam, this is Jared from Washington State. 77 00:05:46,000 --> 00:05:50,000 That footballer Friday was fierce. 78 00:05:50,000 --> 00:05:52,000 Way to kick him in the teeth. 79 00:05:52,000 --> 00:05:57,000 Taking a pass on important issues because they're difficult and messy is totally chicken. 80 00:05:57,000 --> 00:06:04,000 That guy with the hard pronounced name from the Netherlands may be a little over the top from an American or Canadian point of view, 81 00:06:04,000 --> 00:06:06,000 but he should say whatever he thinks is right. 82 00:06:06,000 --> 00:06:08,000 That's what freedom of speech is about. 83 00:06:08,000 --> 00:06:13,000 The importance of freedom of speech is why political correctness is so dangerous. 84 00:06:13,000 --> 00:06:16,000 I hate political correctness. 85 00:06:16,000 --> 00:06:18,000 It limits every discussion. 86 00:06:18,000 --> 00:06:22,000 The sense is conversation and it makes topics and ideas off limits. 87 00:06:22,000 --> 00:06:24,000 This is one of the problems with the public schools. 88 00:06:24,000 --> 00:06:27,000 It pre-programs kids that some thoughts are just not acceptable. 89 00:06:27,000 --> 00:06:33,000 That conformity is key and that is part of the reason for the lag in maturity of our own country. 90 00:06:33,000 --> 00:06:35,000 I want to even start an American news. 91 00:06:35,000 --> 00:06:39,000 I watch BBC America because they seem to have a brain in a couple of balls. 92 00:06:39,000 --> 00:06:43,000 I totally disagree with the constant demonization of the rich. 93 00:06:43,000 --> 00:06:45,000 Thank God for the well to do. 94 00:06:45,000 --> 00:06:48,000 You know, those guys didn't just bingo and win this money. 95 00:06:48,000 --> 00:06:51,000 Most of them worked very hard to get what they have. 96 00:06:51,000 --> 00:06:53,000 I don't know about everybody else. 97 00:06:53,000 --> 00:06:55,000 But I am not employed by the poor. 98 00:06:55,000 --> 00:07:00,000 A rich guy who worked hard to get where he is has given me the opportunity to make a living. 99 00:07:00,000 --> 00:07:03,000 Wave that rich guy flag and tell him to shut the fuck up. 100 00:07:03,000 --> 00:07:05,000 I'm not rich, but I want to be. 101 00:07:05,000 --> 00:07:08,000 And so do all those antiest bastards who are giving you all this shit. 102 00:07:08,000 --> 00:07:09,000 It's all I got. 103 00:07:09,000 --> 00:07:11,000 Jared from Washington State. 104 00:07:11,000 --> 00:07:12,000 Oh, Jared. 105 00:07:13,000 --> 00:07:14,000 No kids. 106 00:07:14,000 --> 00:07:15,000 Got a dog. 107 00:07:15,000 --> 00:07:16,000 Go time. 108 00:07:16,000 --> 00:07:17,000 See you later. 109 00:07:17,000 --> 00:07:18,000 I love you meeting that. 110 00:07:18,000 --> 00:07:19,000 Yeah. 111 00:07:19,000 --> 00:07:20,000 Yeah. 112 00:07:20,000 --> 00:07:22,000 And this is one of the things that I struggle with all the time. 113 00:07:22,000 --> 00:07:24,000 I mean obviously I was born rich. 114 00:07:24,000 --> 00:07:28,000 You know, comparatively speaking to the entire planet born very, very rich. 115 00:07:28,000 --> 00:07:30,000 But I've also been monetarily rich myself. 116 00:07:30,000 --> 00:07:34,000 I've been, you know, ever since I've been a millionaire since I was 23. 117 00:07:34,000 --> 00:07:40,000 So for 20 years I've been in a very small percentage of the world. 118 00:07:40,000 --> 00:07:45,000 You know, that can say that they're that wealthy. 119 00:07:45,000 --> 00:07:49,000 And of course there's many, many people much wealthier than I am. 120 00:07:49,000 --> 00:07:56,000 But it's hard, you know, it make it, how do you put things into perspective? 121 00:07:56,000 --> 00:08:06,000 And I think, I think that, and wow, it's already becoming hard for me to start to formulate a lot of this stuff. 122 00:08:06,000 --> 00:08:11,000 That we really have to caution ourselves each as an individual. 123 00:08:11,000 --> 00:08:16,000 That we're responsible for everything and anything just as much as anyone else. 124 00:08:16,000 --> 00:08:22,000 You know, at the bottom basis of it all, one human is exactly the same as the next human. 125 00:08:22,000 --> 00:08:27,000 And this is kind of my Dutch upbringing that comes out by saying that, you know, we all get out of bed. 126 00:08:27,000 --> 00:08:29,000 One, one leg at a time. 127 00:08:29,000 --> 00:08:31,000 We all put on our trousers. 128 00:08:31,000 --> 00:08:33,000 One leg at a time. 129 00:08:34,000 --> 00:08:38,000 Of course, I'm Bruce Dickinson. And when I do that, I make hit record. 130 00:08:38,000 --> 00:08:43,000 Sorry, little throwback to the cowbell. 131 00:08:43,000 --> 00:08:48,000 So, you know, no one's better than another person or no one's worse than another person. 132 00:08:48,000 --> 00:08:51,000 But it is our responsibility. And I think maybe that's where I want to go today. 133 00:08:51,000 --> 00:08:57,000 I think it's our responsibility as, a lot of us here in the chucklehead group are parents. 134 00:08:57,000 --> 00:09:06,000 Or in your parents to be, or it will soon be parents, or at least have some responsibility over more than just yourself. 135 00:09:06,000 --> 00:09:09,000 There's someone else in your life more than likely. 136 00:09:09,000 --> 00:09:13,000 That could even be an aged parent for all I care. 137 00:09:13,000 --> 00:09:18,000 But that's pretty much just looking at the basic demographics of the show. 138 00:09:18,000 --> 00:09:19,000 That's who we are. 139 00:09:19,000 --> 00:09:25,000 And I think that we're doing the world a huge disservice by, and this goes across the board. 140 00:09:25,000 --> 00:09:27,000 And of course, I'm putting hand on my heart. 141 00:09:27,000 --> 00:09:29,000 You know, I'm doing the same thing. 142 00:09:29,000 --> 00:09:33,000 It's very easy to complain and yell at the man at the government at them. 143 00:09:33,000 --> 00:09:38,000 But they, we should actually, we should outlaw the word they on the show as well. 144 00:09:38,000 --> 00:09:41,000 I really despise that all my life. 145 00:09:41,000 --> 00:09:47,000 I remember them TV, Steve Leeds, my good buddy, would say, hey, you know, they really want you to cut your hair. 146 00:09:47,000 --> 00:09:49,000 So who's they? Well, you know, they up there at the office. 147 00:09:49,000 --> 00:09:52,000 Fuck that. They can come down here and talk to me about it. 148 00:09:53,000 --> 00:09:58,000 I never did cut my hair. By the way, I got fired seven times. They hired me back each time. 149 00:09:58,000 --> 00:10:01,000 But the responsibility is ours. 150 00:10:01,000 --> 00:10:04,000 And I think we're probably not doing a very good job with our children. 151 00:10:04,000 --> 00:10:07,000 And that's mainly because there's so much distraction going on in the world. 152 00:10:07,000 --> 00:10:11,000 We're creating a lot of it, by the way, ourselves. 153 00:10:11,000 --> 00:10:18,000 And we're, we're falling into a number of traps that we actually have set ourselves. 154 00:10:18,000 --> 00:10:28,000 And we've set ourselves up for partially through just apparently the way human humans work and the way our, what's in our DNA and what we crave and what we strive for. 155 00:10:28,000 --> 00:10:34,000 But we are missing a lot of the, the important things and we're certainly not questioning them. 156 00:10:34,000 --> 00:10:41,000 Enough ourselves and we're definitely not opening up dialogue with the next generation is to what this is all really about. 157 00:10:41,000 --> 00:10:46,000 And by the way, kids are not stupid. You know, has my daughter heard of the credit crisis? 158 00:10:46,000 --> 00:10:49,000 Does she know what it is? No. Does she care? No. 159 00:10:49,000 --> 00:10:56,000 Because it's not a topic of conversation. Well, it is actually here. But in general, that's not a topic of conversation. 160 00:10:56,000 --> 00:10:59,000 I was shocked yesterday. Absolutely shocked. 161 00:10:59,000 --> 00:11:04,000 Christina says, Dad, Dad, I finally found a great way to get songs on the internet. 162 00:11:04,000 --> 00:11:11,000 Oh, well, what is that? She says, look, it's this thing called a zurious. Oh, my God. 163 00:11:11,000 --> 00:11:24,000 She says, yeah, I have to do was find a file that says to rent, which was kind of cute, you know, because she's never, she's clearly never had this conversation in her own community or maybe only written, but we call it a torrent. She said it to rent. 164 00:11:24,000 --> 00:11:27,000 And he can just download this music. 165 00:11:27,000 --> 00:11:36,000 And I said, well, dude, this is problematic. And you know, and I started the dialogue with her first all about copyright and these bands. 166 00:11:36,000 --> 00:11:47,000 And actually the way she founded was I had told her about the radio head album that she could download that one for free or she could contribute whatever she thought was appropriate. Of course, she downloaded it for free. 167 00:11:47,000 --> 00:11:51,000 And that's how she found this whole Victorian thing. 168 00:11:51,000 --> 00:12:00,000 And of course, now I know exactly when it's on because the home bandwidth and the entire house slows down to a crawl. She doesn't really understand what's happening. 169 00:12:00,000 --> 00:12:08,000 I did walk her through it and I told her about copyright and how, you know, her favorite bands, you know, how she's basically taking money from them. 170 00:12:08,000 --> 00:12:13,000 And you know, suggests that some alternative ways and easier ways to get music on to her computer. 171 00:12:13,000 --> 00:12:16,000 Because that's really what it is. She buys CDs quite frequently. 172 00:12:16,000 --> 00:12:22,000 But she finds that a pain in the ass and the ripping and she just doesn't want to do that. She just wants to have an instant gratification. 173 00:12:22,000 --> 00:12:29,000 And of course, I also would letter her to the fact that, you know, this is trackable and that you could wind up with no internet. 174 00:12:29,000 --> 00:12:36,000 With no internet service whatsoever. But I was kind of disappointed. I was severely disappointed in myself. 175 00:12:36,000 --> 00:12:45,000 That here I am, a guy who knows a lot about this has grown up with this has been a part of this file sharing and the internet in general. 176 00:12:45,000 --> 00:12:59,000 And I'm just flabbergasted that my knowledge and my values towards this and I do not download songs off of the torrent. 177 00:12:59,000 --> 00:13:07,000 And, you know, in fact, I tried to reverse the process and I tried to give music exposures for people go out and buy it. 178 00:13:07,000 --> 00:13:13,000 I'm flabbergasted that none of that has passed down on to her. So we got to talk about education. 179 00:13:14,000 --> 00:13:21,000 Because, you know, let's face it. You know, I got a lot of living left to do and I'm going to enjoy myself. But I don't think I have. 180 00:13:21,000 --> 00:13:28,000 It's a young man's game, you know, to go and prove stuff and change the world. I can certainly facilitate and do all I can. 181 00:13:28,000 --> 00:13:31,000 And I do that in many different ways. 182 00:13:31,000 --> 00:13:42,000 But we really have to start this educational process at home. And that goes across the board for all groups, all race, all religions, all creeds, everything. 183 00:13:42,000 --> 00:13:48,000 And I know I'm not alone. And this is good, man. This is really good that we're starting. 184 00:13:48,000 --> 00:13:54,000 By the way, if you're listening on live 365, it's very possible that the stream is going in and out. 185 00:13:54,000 --> 00:14:00,000 Because I'm quite sure that my daughter is downstairs with her azureus P to P on. 186 00:14:00,000 --> 00:14:06,000 And I think I can even see nice cast telling me that it's messed up. So, sorry about that. 187 00:14:06,000 --> 00:14:14,000 But here is someone who is incredibly smart, who I've known for almost a decade actually. 188 00:14:14,000 --> 00:14:22,000 Yeah, maybe even longer than a decade. But we've been good friends, certainly intensely for the past a couple of years, Andrew Grummit from Pachio. 189 00:14:22,000 --> 00:14:35,000 And he has some questions that just, you know, for someone who's very, very smart. I'm like, okay, wow, we read none of us really understand the basics of what's in front of us and how things work in the world. 190 00:14:35,000 --> 00:14:43,000 And I have a sneaking suspicion that this is not being taught properly in school. And if it is, it's probably only very superficial, 191 00:14:43,000 --> 00:14:51,000 I'm not going into the real meeting potatoes, which, of course, is the interesting thing about how our world runs and who does the running. 192 00:14:51,000 --> 00:14:56,000 Hey Adam, it's Andrew Grummit here, checking in from HQ. 193 00:14:56,000 --> 00:15:08,000 Actually, this time, I don't have an HQ update, but rather I wanted to check in on the money system conversation that has been taking place on your show. 194 00:15:08,000 --> 00:15:14,000 So, I'm not in the economist, but I've been really interested in this stuff. I think it's fascinating. 195 00:15:14,000 --> 00:15:23,000 And I'm trying to wrap my head around it. So, I wanted to pass a couple of observations by your listeners, hopefully get some stuff on level feedback. 196 00:15:23,000 --> 00:15:31,000 Okay, by the way, I love that. That's right, calling out on the savants. Hey, I wonder if nylon's okay in the middle of all of this. 197 00:15:31,000 --> 00:15:36,000 Excuse me, you are a New York financial guru, savante in London, the nylon. 198 00:15:36,000 --> 00:15:42,000 I hope he's still got a gig, you know, we don't know exactly what he does, but I think he's in the financial sector. 199 00:15:42,000 --> 00:15:45,000 Yes, indeed. We need some savants on this. Bring it on. 200 00:15:45,000 --> 00:15:52,000 The first one, the gold standard, right, this is part of Ron Paul's platform. Something you've mentioned before. 201 00:15:52,000 --> 00:15:59,000 And there's something about it. I can't quite get my head around. So here it is. It's a thought experiment. 202 00:15:59,000 --> 00:16:06,000 We know that there's only so much gold in the earth, right? There's only so much gold you can dig up. 203 00:16:06,000 --> 00:16:13,000 So let's imagine a world where we have 100 people and 100 gold pieces, right? 204 00:16:13,000 --> 00:16:21,000 So basically, let's say we start off with each of those 100 people having one gold piece. 205 00:16:21,000 --> 00:16:27,000 Okay, now, you know, some time goes by, people have kids and the population doubles. 206 00:16:27,000 --> 00:16:35,000 So now there are 200 people and only 100 gold pieces. How do we, you know, how do we handle that? 207 00:16:36,000 --> 00:16:42,000 Does each person on average, now maybe has, you know, half a gold piece. 208 00:16:42,000 --> 00:16:54,000 And effectively, if we use the, you know, the weight of the gold as a measure of currency, suddenly, there's, you know, more people, but just the same amount of money. 209 00:16:54,000 --> 00:16:59,000 So how does it work, right? Because generally speaking, prices go up. 210 00:16:59,000 --> 00:17:10,000 People's incomes go up for better or worse. You know, there's this feeling of progress as time goes on and people's wealth gets larger. 211 00:17:10,000 --> 00:17:20,000 Hopefully. So I don't, it seems contrary to that trend that you would have a fixed amount of money and that generally speaking on average, 212 00:17:20,000 --> 00:17:24,000 people would have less money with each successive generation. 213 00:17:24,000 --> 00:17:36,000 So I, I just don't know how, how do you apply that thinking to a world where there's increasing population and, you know, maybe we're nowhere near it, but a finite amount of gold. 214 00:17:36,000 --> 00:17:50,000 So I don't, I don't know how to square the, the gold standard way of doing money with those facts and maybe somebody in the audience does. 215 00:17:50,000 --> 00:17:58,000 Okay. All right. So here's what I've learned Andrew and it may not be correct, but first of all, I think you're confusing two things. 216 00:17:58,000 --> 00:18:04,000 The gold's equating the gold standard to the way money works in circulation. 217 00:18:04,000 --> 00:18:11,000 So let's just remove that for a second and just say, we have want them, you know, or sticks or whatever. 218 00:18:11,000 --> 00:18:27,000 And these sticks are attributed to value and everyone agrees that, you know, a stick has an intrinsic value either by its length or perhaps if we use paper sticks by the number written on it and it was, you know, and there's a known amount of this in circulation. 219 00:18:27,000 --> 00:18:33,000 So what you say, I have to agree that if we all have an equal amount of sticks. 220 00:18:34,000 --> 00:18:44,000 Someone's going to wind up with, as we start to trade and buy goods and services from each other, you know, at times you'll have less and then if you have some good services or products, then you know, you'll make more. 221 00:18:44,000 --> 00:19:02,000 And I think that this is exactly where a central bank comes into play because in order to manage that economy, depending on how hard this economy works and what they produce or if they're mainly consumption focused. 222 00:19:02,000 --> 00:19:12,000 And, you know, this, of course, is now now you're getting into some heavy shit economics because, you know, that it then imports and exports come into what this leave all of this to the side. 223 00:19:12,000 --> 00:19:14,000 This is just a village. 224 00:19:14,000 --> 00:19:27,000 You probably could get around, you know, just with the sticks, right, but that would depend on if you wanted to buy something that you didn't have enough sticks for. 225 00:19:27,000 --> 00:19:30,000 And so that's where banking comes into play. 226 00:19:30,000 --> 00:19:41,000 So when you have a central bank, then there is an entity, a force, a regardless of who it is, that manages a lot of that economy by putting more sticks into the pool. 227 00:19:41,000 --> 00:19:53,000 And this, of course, is extremely interesting because how many sticks do you need to have to lend, how many sticks can you lend out to someone based upon how many sticks you have. 228 00:19:53,000 --> 00:20:01,000 So immediate conventional childish thinking as well, if I have 10 sticks, I can lend people 10 sticks. 229 00:20:01,000 --> 00:20:08,000 Well, that's not exactly what is going on because we have fractional reserve banking. 230 00:20:08,000 --> 00:20:11,000 And I bet you that that's going to be Andrew's next question. 231 00:20:11,000 --> 00:20:15,000 So the gold standard is a different topic altogether, Andrew. 232 00:20:15,000 --> 00:20:29,000 I believe that, you know, okay, so I believe that the reason why we don't just live in a society with an equal amount of sticks for everyone is because society grows. 233 00:20:29,000 --> 00:20:44,000 And because of that growth or, you know, with international important exports balance has to be, you hear these words all the time, you know, nice start to think about what they mean, right, what is the trade balance, well, it's an important part of the economy to understand the value of your sticks. 234 00:20:44,000 --> 00:20:50,000 Inflation of prices, et cetera, all of it really there's an equal and opposite reaction for everything that is done. 235 00:20:50,000 --> 00:20:55,000 And this, of course, is what all this interest rate talk is all about. 236 00:20:55,000 --> 00:20:58,000 To now on to Andrew's next question. 237 00:20:58,000 --> 00:21:06,000 And then there's the second one, which is the, the fractional reserve lending system. 238 00:21:07,000 --> 00:21:19,000 I want to say that you said on yesterday's show that a bank could lend 10 times what it had, which it's kind of misleading. 239 00:21:19,000 --> 00:21:26,000 I think that I've done some reading about this and I think what the role is this for each hundred dollars a bank receives into posits. 240 00:21:26,000 --> 00:21:33,000 It can turn around and invest something like 90% of that. 241 00:21:33,000 --> 00:21:39,000 So that's a fundamental difference the way I've read it and I and I also have looked around and again, I could be wrong. 242 00:21:39,000 --> 00:21:52,000 It is my understanding that fractional reserve banking works by you have 10 sticks and you're allowed to lend out 10 times that amount. 243 00:21:52,000 --> 00:22:02,000 So you have to have at least 10% of it in or that whatever you have in deposits, you can lend out 10 times that. 244 00:22:02,000 --> 00:22:09,000 And I presume that only works if your bank is ensured of the some other deal going on in the background. 245 00:22:09,000 --> 00:22:12,000 You know, of course, that's exactly what happens when there's a run on the bank. 246 00:22:12,000 --> 00:22:22,000 There's a run on the bank then, you know, all those 10 other people come running and say, hey. 247 00:22:22,000 --> 00:22:23,000 Wait a minute, I'm saying it the wrong way. 248 00:22:23,000 --> 00:22:25,000 See how fucking complicated this is. 249 00:22:26,000 --> 00:22:36,000 There's a run on the bank then all the people who've actually deposited money start taking it out, but that has a like a multiplier domino effect on what you have outstanding. 250 00:22:36,000 --> 00:22:40,000 And of course banks don't just lend out, they borrow all the time. 251 00:22:40,000 --> 00:22:41,000 That's the business. 252 00:22:41,000 --> 00:22:46,000 The business is borrowing and lending of money and arbitraging. 253 00:22:46,000 --> 00:22:53,000 So in other words, bilo sell high and this can be thousands of percentages of dollars. 254 00:22:53,000 --> 00:22:56,000 But if you have enough of them, they start to add up. 255 00:22:56,000 --> 00:23:01,000 And of course lending at the end of the day is always based on trust. 256 00:23:01,000 --> 00:23:04,000 Right, that might be where the 10 to one number comes from, but there's a limit. 257 00:23:04,000 --> 00:23:13,000 The Federal Reserve sets a limit on, you know, the fraction of that hundred dollars at the bank and then turn around and invest. 258 00:23:14,000 --> 00:23:21,000 And it kind of, I mean, it makes sense to me in a certain way that the bank should be able to take that money and essentially make money from it, right? 259 00:23:21,000 --> 00:23:28,000 That is, well, not make money in the printing money sense, but rather make money in the be profitable sense, right? 260 00:23:28,000 --> 00:23:29,000 A bank is a business. 261 00:23:29,000 --> 00:23:37,000 They have, they've got to, you know, run the ATM machines and then the bank branches and whatever else they do. 262 00:23:38,000 --> 00:23:44,000 So in order to make money, they essentially take your money and they invest it, right? 263 00:23:44,000 --> 00:23:52,000 So you give them a hundred dollars and if they were required to keep that hundred dollars in their safe, they wouldn't have a way to be profitable, right? 264 00:23:52,000 --> 00:23:59,000 So I guess the question is, you know, how much of that should they be able to invest? 265 00:24:00,000 --> 00:24:03,000 And where do the limits come from and what are the implications of that? 266 00:24:03,000 --> 00:24:08,000 So those are kind of my two points in this discussion. 267 00:24:08,000 --> 00:24:12,000 I'm really curious to see if anybody out there has some thoughts about anyway. 268 00:24:12,000 --> 00:24:16,000 Thanks for having the discussion, really enjoying following it. 269 00:24:16,000 --> 00:24:18,000 And that's all for now. 270 00:24:18,000 --> 00:24:19,000 All right, bye Andrew. 271 00:24:19,000 --> 00:24:23,000 And by the way, you know, I know you don't call it an orphan Andrew, but come on, get with it, man. 272 00:24:23,000 --> 00:24:27,000 Do some of the official sign-off, Lingo, will you? 273 00:24:27,000 --> 00:24:33,000 Yes, so you may have received this PowerPoint that's been doing the rounds on the internet, which explains the banking crisis. 274 00:24:33,000 --> 00:24:44,000 And it's kind of a humoristic cartoon, essentially showing how all of these lending and borrowing institutions. 275 00:24:44,000 --> 00:24:46,000 And by the way, that includes us. 276 00:24:46,000 --> 00:24:56,000 You know, what Andrew would call investing, what a bank does, another would call borrowing or, for instance, if I buy a house and I have a mortgage, I put down 10%. 277 00:24:56,000 --> 00:24:57,000 Right? 278 00:24:57,000 --> 00:25:01,000 So if it's a hundred thousand dollar house, I put down ten thousand dollars. 279 00:25:01,000 --> 00:25:03,000 I borrow ninety thousand dollars. 280 00:25:03,000 --> 00:25:04,000 The house goes up in value. 281 00:25:04,000 --> 00:25:06,000 I've just doubled my money. 282 00:25:06,000 --> 00:25:11,000 Yeah, as sure there's a little bit of a loss for the interest that I've had to pay, but that's exactly what banks do. 283 00:25:11,000 --> 00:25:15,000 They do it with all kinds of things with the exchanging of money. 284 00:25:15,000 --> 00:25:17,000 They do it with investments. 285 00:25:17,000 --> 00:25:22,000 They do it with all kinds of financial instruments. 286 00:25:22,000 --> 00:25:32,000 It's coming up with different ways to borrow money at a lower cost than you can lend it out to someone that's the basic business. 287 00:25:32,000 --> 00:25:40,000 So anyway, so I'm amazed at how people, particularly with a couple of visual aids, are able to really explain this quite succinctly. 288 00:25:40,000 --> 00:25:46,000 And in fact, I got a voice comment here, which kind of explains the Federal Reserve in under a minute. 289 00:25:46,000 --> 00:25:49,000 Hi, Adam, Eric from Portland. 290 00:25:49,000 --> 00:25:54,000 This whole Federal Reserve thing is a little complex for some people to get their minds around. 291 00:25:54,000 --> 00:26:01,000 And I've found a nicer way to an easy way for people to understand it is to just pull out a dollar bill and look at it. 292 00:26:01,000 --> 00:26:02,000 It is not just a dollar bill. 293 00:26:02,000 --> 00:26:03,000 It's a contract. 294 00:26:03,000 --> 00:26:06,000 If you look at the top of it on the face side, you look at the top of it. 295 00:26:06,000 --> 00:26:09,000 It's going to say Federal Reserve, Federal Reserve note. 296 00:26:09,000 --> 00:26:10,000 That's the lender. 297 00:26:10,000 --> 00:26:15,000 Down there, there's little signatures at the contract signing for the American People's 298 00:26:15,000 --> 00:26:18,000 at Treasure and the Secretary of the Treasury. 299 00:26:18,000 --> 00:26:22,000 Those are the borrowers and they're signing on our behalf on the American People's behalf. 300 00:26:22,000 --> 00:26:27,000 So look at a dollar bill as just a simple contract. 301 00:26:27,000 --> 00:26:33,000 And you'll realize that that contract is just paper and it's not backed by anything. 302 00:26:33,000 --> 00:26:34,000 Hope that helps. 303 00:26:34,000 --> 00:26:38,000 It certainly helps for some part. 304 00:26:38,000 --> 00:26:40,000 Why is it that our political leaders? 305 00:26:40,000 --> 00:26:43,000 Why is it that why don't they just take the time out? 306 00:26:43,000 --> 00:26:49,000 Take five minutes and explain in simple terms because this stuff is simple. 307 00:26:49,000 --> 00:26:55,000 I mean, yeah, it seems very complicated because there's lots of zeroes and it's, you know, 308 00:26:55,000 --> 00:26:59,000 and it's intricately linked to all kinds of other systems and issues. 309 00:26:59,000 --> 00:27:02,000 But I think basic economics is, it wouldn't be bad. 310 00:27:02,000 --> 00:27:05,000 You know, well, we can't expect that from President Bush. 311 00:27:05,000 --> 00:27:08,000 But why doesn't Obama take some time and just say that or Hillary? 312 00:27:08,000 --> 00:27:10,000 Oh, she really understands it. 313 00:27:10,000 --> 00:27:13,000 Just explain how it works where the money comes from, you know, 314 00:27:13,000 --> 00:27:20,000 explain this situation to the people so that we as, as a world population, 315 00:27:20,000 --> 00:27:23,000 because it is interlinked throughout the world. 316 00:27:23,000 --> 00:27:26,000 This is not just a problem in the United States. 317 00:27:26,000 --> 00:27:30,000 So we can all understand it and then we can educate ourselves. 318 00:27:30,000 --> 00:27:36,000 And then stay away from the pitfalls in the future, which in this case in the subprime mortgage crisis 319 00:27:36,000 --> 00:27:43,000 was that we didn't understand exactly how the adjustable rate mortgages worked 320 00:27:43,000 --> 00:27:48,000 and that refinancing is only possible if the housing value continues to rise 321 00:27:48,000 --> 00:27:55,000 and it's not a set given fact that house prices always go up. 322 00:27:55,000 --> 00:27:57,000 Very, very simple things. 323 00:27:57,000 --> 00:28:02,000 You know, so instead of people saying, we were dupped by them and they screwed us. 324 00:28:02,000 --> 00:28:04,000 Now, you've got to educate yourself. 325 00:28:04,000 --> 00:28:07,000 But I think we deserve some of that from our leaders. 326 00:28:07,000 --> 00:28:11,000 And I don't mind being patronized a little bit like I'm some idiot because clearly I am. 327 00:28:11,000 --> 00:28:12,000 I don't understand this stuff. 328 00:28:12,000 --> 00:28:15,000 No wonder a lot of smart people I know understand it. 329 00:28:15,000 --> 00:28:19,000 Thank you to the BBC who had a fantastic program on last night, 330 00:28:19,000 --> 00:28:23,000 called the Super Rich, the greed game. 331 00:28:23,000 --> 00:28:27,000 And you can get on the BBC eye player if you're still in the UK. 332 00:28:27,000 --> 00:28:29,000 It's good for another six days. 333 00:28:29,000 --> 00:28:33,000 I hope that although I don't like piracy, but I think it's such a good piece of work. 334 00:28:33,000 --> 00:28:37,000 And of course, it has been paid for by the British populace. 335 00:28:37,000 --> 00:28:42,000 I hope someone puts that out there like on YouTube or Google video. 336 00:28:42,000 --> 00:28:44,000 So that other people can see it all hunter-round for it. 337 00:28:44,000 --> 00:28:46,000 But it's just a fantastic show. 338 00:28:46,000 --> 00:28:49,000 A little over the top about the super rich. 339 00:28:49,000 --> 00:28:52,000 It's like blah, blah, blah, whatever. 340 00:28:52,000 --> 00:28:56,000 But just understanding what happened and why the system broke down. 341 00:28:56,000 --> 00:28:58,000 Then all of a sudden you can put it in perspective. 342 00:28:58,000 --> 00:29:02,000 And you see all these bank guys, the guys in the strip bars. 343 00:29:02,000 --> 00:29:06,000 I understand that they just overplayed their hand and overplayed the game. 344 00:29:06,000 --> 00:29:11,000 And there was not their own elders and people responsible. 345 00:29:11,000 --> 00:29:14,000 Played along and did really educate them as to what could happen. 346 00:29:14,000 --> 00:29:15,000 And we screwed up. 347 00:29:15,000 --> 00:29:17,000 We'll get out of it. 348 00:29:17,000 --> 00:29:20,000 I do like this news that I saw from... 349 00:29:20,000 --> 00:29:21,000 Who sent this to me. 350 00:29:21,000 --> 00:29:26,000 I think that Naly Cruz, of course, is the... 351 00:29:26,000 --> 00:29:31,000 What is her exact title, the competition minister? 352 00:29:31,000 --> 00:29:36,000 She's the one that makes sure a company says play honest. 353 00:29:36,000 --> 00:29:41,000 She is now starting investigations into the state bailout of Northern Rock. 354 00:29:41,000 --> 00:29:44,000 Because there are European rules against doing this. 355 00:29:44,000 --> 00:29:48,000 We can't have all of individual member states of the European Union. 356 00:29:48,000 --> 00:29:52,000 Just willingly going around and bailing out whatever and whatever they want. 357 00:29:52,000 --> 00:29:56,000 And of course, that's where a lot of the dissatisfaction comes from. 358 00:29:56,000 --> 00:29:59,000 And that is just the anger that builds up inside of us. 359 00:29:59,000 --> 00:30:04,000 But if we understand better what's going on, then we'll be able to combat that in many different levels, including political. 360 00:30:04,000 --> 00:30:06,000 You know, your kids can run for office, you know. 361 00:30:06,000 --> 00:30:09,000 It's not too late to let them know that. 362 00:30:09,000 --> 00:30:15,000 I don't know where I was going with that crap. 363 00:30:15,000 --> 00:30:18,000 So I almost want to rewind what I just said. 364 00:30:18,000 --> 00:30:20,000 I was on the roll. 365 00:30:20,000 --> 00:30:23,000 Anyway, we'll work on it. 366 00:30:23,000 --> 00:30:25,000 I need your help, those savants. 367 00:30:25,000 --> 00:30:28,000 Let us know what's going on, okay? 368 00:30:28,000 --> 00:30:30,000 Hey Adam, it's Jack. 369 00:30:30,000 --> 00:30:32,000 Are the multiculturalism discussion? 370 00:30:32,000 --> 00:30:40,000 I think it's a dangerous to lump a whole group of people based on the actions of a few violent, 371 00:30:40,000 --> 00:30:42,000 so-so-siffrous minority. 372 00:30:42,000 --> 00:30:49,000 As it is dangerous to lump all journalists based on the faux-siffrous idiotic Glenn Beck. 373 00:30:49,000 --> 00:30:53,000 Okay, point will made podcaster for me to know in his Jack. 374 00:30:53,000 --> 00:30:56,000 Actually, it just came to me when I was talking about, 375 00:30:56,000 --> 00:30:59,000 thank you, Jack, for kind of jogging my memory there. 376 00:30:59,000 --> 00:31:06,000 So what really gets people angry is you see these crises brought on by big institutions. 377 00:31:06,000 --> 00:31:09,000 And yes, in some cases, very wealthy people. 378 00:31:09,000 --> 00:31:15,000 And it hurts everybody, but the people who get helped by the government, for a number of reasons, not just altruistic, 379 00:31:15,000 --> 00:31:25,000 but a number of reasons, seem to be these large institutions and wealthy people, and seemingly they therefore have no risk to taking even greater risks. 380 00:31:25,000 --> 00:31:33,000 There's no downside. There's no repercussions for them taking that type of risk. Of course, in recession, the little guy and we all get fucked. 381 00:31:33,000 --> 00:31:43,000 And that makes you angry. Angry. So you want to we all get angry, but at the same time educate ourselves on what the hell is going on. 382 00:31:43,000 --> 00:31:49,000 We understand that we can definitely change it. And you can do that because at the end of the day, who is it based on? 383 00:31:49,000 --> 00:31:55,000 Right? Who was the subprime mortgage based on? Who was the housing boom based on? 384 00:31:55,000 --> 00:31:59,000 Based on us. Based on us borrowing to buy. 385 00:31:59,000 --> 00:32:07,000 Selling at a profit, going back, refinancing, borrowing to buy, buy sell, buy low sell, high, make money, party, party. 386 00:32:07,000 --> 00:32:11,000 We did it. So within we can stop it, right? It's that simple. 387 00:32:11,000 --> 00:32:21,000 You know, but this whole day thing is just, I should stop that myself and I think you should consider it because it's just going a little bit out of hand. 388 00:32:22,000 --> 00:32:28,000 Now, of course, to educate yourself and this is something that I've been working on as a personal mission. 389 00:32:28,000 --> 00:32:34,000 It's, you know, there's so much information coming in. And in fact, I use Google News as an example of this. 390 00:32:34,000 --> 00:32:39,000 If you just go to news.google.com, you'll see a whole bunch of stories in different categories. 391 00:32:39,000 --> 00:32:45,000 And these are all aggregated and supposedly the the hot stories bubble to the top, but they've got a whole bunch of different things. 392 00:32:45,000 --> 00:32:50,000 Different, like, showbees, entertainment sports, etc. Now, I really look at sports ever. 393 00:32:50,000 --> 00:32:54,000 I saw on the page. But what I'm trying to do now is when I see a headline. 394 00:32:54,000 --> 00:33:00,000 The first thing I, I, before clicking on it because that's where you go down the rabbit hole. 395 00:33:00,000 --> 00:33:04,000 Before clicking on it, I'm like, do I really need to know this? 396 00:33:04,000 --> 00:33:09,000 Will it enrich my life? Will it make any difference to me at this moment? 397 00:33:09,000 --> 00:33:13,000 I mean, unless you're in like a major major leisure time moment. 398 00:33:15,000 --> 00:33:22,000 You know, like, here's one, Britney, anything Britney Spears. You know, those headlines are, are you just want to click on like, oh my gosh. 399 00:33:22,000 --> 00:33:25,000 And you know, instead of going into why I want to click on it. 400 00:33:25,000 --> 00:33:29,000 It's like, what is the benefit going to be? I'm not even just not going to click on that link. You know, it's all right. 401 00:33:29,000 --> 00:33:32,000 So I'll sound stupid by not knowing what happened to her. 402 00:33:32,000 --> 00:33:38,000 You know, I'll live with that. I'll know, you know, I'll click on things that I really evaluate for second. 403 00:33:38,000 --> 00:33:44,000 Because when you click on like a Britney link and this, of course, is what publishes are very good at and what I try to do myself is, 404 00:33:44,000 --> 00:33:49,000 you know, they draw you in and here's another link to click on it. Get more info and see more pictures before you know it. 405 00:33:49,000 --> 00:33:55,000 What the hell was I was trying to get the news? Wasn't I? So evaluate this stuff. You know, don't just click Willy and Lily. 406 00:33:55,000 --> 00:33:59,000 That's probably not a very good idea. 407 00:33:59,000 --> 00:34:10,000 And sometimes, of course, you just have to be in your leisure time mode and whether you're watching, whether you're clicking around and Googling things or whether you're watching certain types of television. 408 00:34:10,000 --> 00:34:18,000 Well, you know, that's a moment where you can, you know, you think you're resting your brain. You aren't really, but at least you can put some different impulses in there. 409 00:34:18,000 --> 00:34:25,000 But when you're really focused on getting some information and learning something or when you're just just news in general, this is a good thing. 410 00:34:25,000 --> 00:34:28,000 Anything you see evaluate why you're going to click on that link. 411 00:34:28,000 --> 00:34:33,000 It would probably boost our economy by a trillion dollars if you all did that. 412 00:34:33,000 --> 00:34:37,000 It would save us a lot of time jerking off doing nothing. 413 00:34:37,000 --> 00:34:39,000 Adam, it's Chris and Nashville. 414 00:34:39,000 --> 00:34:50,000 I've been listening to Noah Jen the number 24 and the park where John is saying that these shows are detrimental to our mental state of being. 415 00:34:50,000 --> 00:34:53,000 He's absolutely right. 416 00:34:53,000 --> 00:35:01,000 I'm sick and tired of all those big brother, you know, all this reality bullshit. 417 00:35:01,000 --> 00:35:02,000 It's just, 418 00:35:02,000 --> 00:35:09,000 I only played a little bit of that for one reason because for those, and a lot of you listened to Noah Jen does well, I know. 419 00:35:09,000 --> 00:35:15,000 And we kind of had a cliffhanger that we left on the last show. 420 00:35:15,000 --> 00:35:18,000 So of course, a new one coming up this weekend. 421 00:35:18,000 --> 00:35:24,000 And I need to provide a rebuttal because, and this is why I wanted to just say this for a second. 422 00:35:24,000 --> 00:35:28,000 I did not say I'm a fan, because this is, we had a whole conversation. 423 00:35:28,000 --> 00:35:32,000 And I said, I was a fan of a certain type of reality programming. 424 00:35:32,000 --> 00:35:41,000 Namely, the talent contest with voting and honest judges. 425 00:35:41,000 --> 00:35:47,000 And that and, and there was one specific example of honesty. 426 00:35:47,000 --> 00:35:52,000 And that'll be part of my rebuttal, which was Jerry Springers, nothing but the truth. 427 00:35:52,000 --> 00:35:57,000 I just want to say this has nothing to do with big brother, although that, I can say a lot about that as well. 428 00:35:57,000 --> 00:36:01,000 But in general, I will be talking in my rebuttal about reality television. 429 00:36:01,000 --> 00:36:06,000 And why I do believe that there is value to that genre. 430 00:36:06,000 --> 00:36:08,000 And it should be an interesting show. 431 00:36:08,000 --> 00:36:12,000 So Friday or Saturday, you never know when we released that. 432 00:36:12,000 --> 00:36:14,000 Hey, Noah, let's play a song. 433 00:36:14,000 --> 00:36:19,000 Something I found on the podcast music network just uploaded this morning. 434 00:36:19,000 --> 00:36:25,000 And there's nothing better than the Rolling Stones than our Rolling Stones tribute band with their own material. 435 00:36:25,000 --> 00:36:35,000 And they have the only one going without giving up. 436 00:36:35,000 --> 00:38:15,000 [ Music ] 437 00:38:15,000 --> 00:38:17,000 Get it out for me now 438 00:38:17,000 --> 00:38:19,000 Just for me to say 439 00:38:20,000 --> 00:38:23,000 Okay, I'll come home from 440 00:38:23,000 --> 00:38:26,000 I just need your help 441 00:38:29,000 --> 00:38:31,000 Oh yeah 442 00:38:31,000 --> 00:39:31,000 [ Music ] 443 00:39:31,000 --> 00:39:33,000 Oh yeah 444 00:39:38,000 --> 00:39:40,000 I thought that was kind of interesting 445 00:39:40,000 --> 00:39:42,000 The name was really what caught my eye 446 00:39:42,000 --> 00:39:43,000 The power goats 447 00:39:44,000 --> 00:39:45,000 Deep love 448 00:39:45,000 --> 00:39:46,000 That attention to potting music 449 00:39:46,000 --> 00:39:50,000 Now we're going to force I will share the location of this band 450 00:39:50,000 --> 00:39:52,000 And their music on the PMN 451 00:39:52,000 --> 00:39:55,000 Through the show notes at the daily source code 452 00:39:55,000 --> 00:39:57,000 At daily source code.com 453 00:39:57,000 --> 00:39:58,000 Actually 454 00:39:58,000 --> 00:40:00,000 Okay, I think we're going to leave it at that for today 455 00:40:00,000 --> 00:40:02,000 Because it'll want to think about 456 00:40:02,000 --> 00:40:05,000 And I'm still in the middle of my learning journey 457 00:40:05,000 --> 00:40:06,000 And my quest 458 00:40:06,000 --> 00:40:07,000 So I will turn it over to the sabons 459 00:40:07,000 --> 00:40:09,000 You know how to reach me at 460 00:40:09,000 --> 00:40:10,000 Adam at podshow.com 461 00:40:10,000 --> 00:40:12,000 Of course if you look at the show notes 462 00:40:12,000 --> 00:40:13,000 You can find the 463 00:40:13,000 --> 00:40:15,000 Phone numbers to call in 464 00:40:15,000 --> 00:40:16,000 And leave some feedback 465 00:40:16,000 --> 00:40:17,000 Keep it short 466 00:40:17,000 --> 00:40:18,000 If possible 467 00:40:18,000 --> 00:40:20,000 In fact, can't someone out there 468 00:40:20,000 --> 00:40:22,000 Describe how our economy works 469 00:40:22,000 --> 00:40:24,000 And how the Federal Reserve works 470 00:40:24,000 --> 00:40:26,000 And how certain elements or discussions 471 00:40:26,000 --> 00:40:28,000 We've talked about in under 60 seconds 472 00:40:28,000 --> 00:40:29,000 I mean, that should be possible 473 00:40:29,000 --> 00:40:30,000 Something that I can just 474 00:40:30,000 --> 00:40:32,000 Fire off an MP3 to my daughter 475 00:40:32,000 --> 00:40:34,000 And she'll understand it 476 00:40:34,000 --> 00:40:35,000 Wouldn't that be amazing? 477 00:40:35,000 --> 00:40:37,000 Wouldn't we be doing something interesting? 478 00:40:37,000 --> 00:40:38,000 All right everybody 479 00:40:38,000 --> 00:40:39,000 Thank you very much for listening 480 00:40:39,000 --> 00:40:41,000 I think the live 365 stream 481 00:40:41,000 --> 00:40:42,000 Wasn't too great today 482 00:40:42,000 --> 00:40:44,000 I'm not quite sure what the problem is 483 00:40:44,000 --> 00:40:46,000 Also our bandwidth here as you know 484 00:40:46,000 --> 00:40:48,000 Is severely hampered by the 485 00:40:48,000 --> 00:40:49,000 The illegality of a teenager 486 00:40:49,000 --> 00:40:51,000 Who needs more speaking to 487 00:40:51,000 --> 00:40:53,000 Before I start closing a port 488 00:40:53,000 --> 00:40:54,000 Because that of course is the ultimate 489 00:40:54,000 --> 00:40:56,000 Why to get whatever I want 490 00:40:56,000 --> 00:40:59,000 Tomorrow I have some more dental work 491 00:40:59,000 --> 00:41:01,000 Being done so I don't know if I'll do a show 492 00:41:01,000 --> 00:41:03,000 But Friday definitely full on 493 00:41:03,000 --> 00:41:04,000 Fubar I hope we'll have the stream up 494 00:41:04,000 --> 00:41:06,000 And running perfectly so get your songs in 495 00:41:06,000 --> 00:41:08,000 Early so we can crank it out 496 00:41:08,000 --> 00:41:10,000 Have a maximum music good time 497 00:41:10,000 --> 00:41:13,000 Live your life with passion 498 00:41:13,000 --> 00:41:16,000 And because that is something you control 499 00:41:16,000 --> 00:41:19,000 And while others don't control all of it 500 00:41:19,000 --> 00:41:21,000 Enjoy your freedom 501 00:41:21,000 --> 00:41:23,000 Another pop show podcast 502 00:41:23,000 --> 00:41:25,000 Stick it in your ear