WEBVTT

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Delta Shara Charley, 7-4-2.

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With $16 billion worth of
airplane strapped to my ass,

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then the next generation radio
contenting my ears.

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We don't need not seeking
forgiveness.

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I like to think I'm flying to
the future.

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I guess it's a happy curry.

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Come on, they're more on its
brand new day.

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Come on, they're more on its
brand new day.

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Come on, they're more on its
brand new day.

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Come on, they're more on its
brand new day.

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[ Music ]

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And good morning.

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Good afternoon.

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Good evening.

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Hello.

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Good day to you tomorrow.

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Daily source code episode number
742.

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Coming to you from the affluent
suburb of Surrey.

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In a cloudy and an overcast
killed for it.

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West Side of Gtown.

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Wow.

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I've always missed that part on
that record.

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Hey, everybody.

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How are you doing?

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Folks listening to the podcast
version of the Daily source
code.

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Those of you checking us out
live on live 365.

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Having its usual problems.

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People not being able to
connect.

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Kind of pisses me off because I
went for the 99 dollar a month
option.

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I actually paid a year in
advance.

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Could I figure, you know, well,
it's a little bit cheaper.

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Why not?

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I've used them before.

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But I've never seen these
problems with these guys.

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Last time I used their service
was pool.

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I don't know.

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Maybe a year and a half or two
years ago.

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So they're with me hanging
there.

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We're doing the best that we
can.

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I feel kind of anxious today.

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And, you know, woke up and I
don't know.

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I'm just feeling restless
really.

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It's an unrest throughout my
entire body.

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And I'm trying to pinpoint this.

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You know, I'm examining these
feelings.

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I think what is really going on
with me.

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And I think there's a number of
things.

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And a lot of it is just the
conversations we're having on
the tanty source code.

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A lot of this stuff was really
freaking me out.

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I mean, not like I'm tripping.

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But just, you know, my mind
keeps on going.

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It's very, very hard to stop
thinking about all these
different conversations.

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And, you know, it's a fact.

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I feel, or at least for me, if
you start to get some
information overload on
particular topics.

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Those of the complicated kind,
or perhaps even those of the
conspirator kind.

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Your mind starts going pretty
far.

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And luckily I've been getting a
lot of, you know, a lot of the
contrarian views.

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And a lot of these topics we've
been talking about the
multicultural society.

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We've been talking about, well,
that's why I played Good Morning
Freedom about our own freedom.

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How free are we?

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What is the status of our
freedom of speech and freedom of
expression?

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The financial crisis.

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You know, thoughts of taking DNA
from kids in a term if they're
going to be troublemakers later
on.

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I mean, just saw this stuff and
it's very hard to weigh exactly
what is happening.

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What isn't happening?

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What's true?

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What's not true?

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Where the half-throughs?

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Where the word of the
half-truths intersect?

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It's complicated.

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So luckily, though, today, we're
going to get through a lot of
this with some excellent
feedback

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and some great comments and some
good questions, which is really
the best thing to do, I think,
at this point.

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And it'll really come down to
education, I think.

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Remember, this is a political,
politically correct free zone on
the daily source code.

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This is where we talk about
anything and everything and
everything goes, no name calling
alive.

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Hey, Adam, this is Jared from
Washington State.

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That footballer Friday was
fierce.

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Way to kick him in the teeth.

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Taking a pass on important
issues because they're difficult
and messy is totally chicken.

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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,

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but he should say whatever he
thinks is right.

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That's what freedom of speech is
about.

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The importance of freedom of
speech is why political
correctness is so dangerous.

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I hate political correctness.

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It limits every discussion.

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The sense is conversation and it
makes topics and ideas off
limits.

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This is one of the problems with
the public schools.

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It pre-programs kids that some
thoughts are just not
acceptable.

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That conformity is key and that
is part of the reason for the
lag in maturity of our own
country.

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I want to even start an American
news.

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I watch BBC America because they
seem to have a brain in a couple
of balls.

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I totally disagree with the
constant demonization of the
rich.

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Thank God for the well to do.

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You know, those guys didn't just
bingo and win this money.

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Most of them worked very hard to
get what they have.

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I don't know about everybody
else.

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But I am not employed by the
poor.

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A rich guy who worked hard to
get where he is has given me the
opportunity to make a living.

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Wave that rich guy flag and tell
him to shut the fuck up.

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I'm not rich, but I want to be.

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And so do all those antiest
bastards who are giving you all
this shit.

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It's all I got.

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Jared from Washington State.

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Oh, Jared.

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No kids.

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Got a dog.

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Go time.

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See you later.

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I love you meeting that.

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Yeah.

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Yeah.

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And this is one of the things
that I struggle with all the
time.

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I mean obviously I was born
rich.

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You know, comparatively speaking
to the entire planet born very,
very rich.

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But I've also been monetarily
rich myself.

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I've been, you know, ever since
I've been a millionaire since I
was 23.

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So for 20 years I've been in a
very small percentage of the
world.

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You know, that can say that
they're that wealthy.

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And of course there's many, many
people much wealthier than I am.

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But it's hard, you know, it make
it, how do you put things into
perspective?

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And I think, I think that, and
wow, it's already becoming hard
for me to start to formulate a
lot of this stuff.

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That we really have to caution
ourselves each as an individual.

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That we're responsible for
everything and anything just as
much as anyone else.

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You know, at the bottom basis of
it all, one human is exactly the
same as the next human.

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And this is kind of my Dutch
upbringing that comes out by
saying that, you know, we all
get out of bed.

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One, one leg at a time.

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We all put on our trousers.

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One leg at a time.

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Of course, I'm Bruce Dickinson.
And when I do that, I make hit
record.

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Sorry, little throwback to the
cowbell.

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So, you know, no one's better
than another person or no one's
worse than another person.

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But it is our responsibility.
And I think maybe that's where I
want to go today.

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I think it's our responsibility
as, a lot of us here in the
chucklehead group are parents.

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Or in your parents to be, or it
will soon be parents, or at
least have some responsibility
over more than just yourself.

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There's someone else in your
life more than likely.

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That could even be an aged
parent for all I care.

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But that's pretty much just
looking at the basic
demographics of the show.

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That's who we are.

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And I think that we're doing the
world a huge disservice by, and
this goes across the board.

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And of course, I'm putting hand
on my heart.

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You know, I'm doing the same
thing.

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It's very easy to complain and
yell at the man at the
government at them.

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But they, we should actually, we
should outlaw the word they on
the show as well.

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I really despise that all my
life.

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I remember them TV, Steve Leeds,
my good buddy, would say, hey,
you know, they really want you
to cut your hair.

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So who's they? Well, you know,
they up there at the office.

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Fuck that. They can come down
here and talk to me about it.

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I never did cut my hair. By the
way, I got fired seven times.
They hired me back each time.

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But the responsibility is ours.

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And I think we're probably not
doing a very good job with our
children.

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And that's mainly because
there's so much distraction
going on in the world.

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We're creating a lot of it, by
the way, ourselves.

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And we're, we're falling into a
number of traps that we actually
have set ourselves.

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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.

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But we are missing a lot of the,
the important things and we're
certainly not questioning them.

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Enough ourselves and we're
definitely not opening up
dialogue with the next
generation is to what this is
all really about.

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And by the way, kids are not
stupid. You know, has my
daughter heard of the credit
crisis?

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Does she know what it is? No.
Does she care? No.

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Because it's not a topic of
conversation. Well, it is
actually here. But in general,
that's not a topic of
conversation.

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I was shocked yesterday.
Absolutely shocked.

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Christina says, Dad, Dad, I
finally found a great way to get
songs on the internet.

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Oh, well, what is that? She
says, look, it's this thing
called a zurious. Oh, my God.

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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.

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And he can just download this
music.

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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.

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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.

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And that's how she found this
whole Victorian thing.

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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.

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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.

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And you know, suggests that some
alternative ways and easier ways
to get music on to her computer.

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Because that's really what it
is. She buys CDs quite
frequently.

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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.

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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.

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With no internet service
whatsoever. But I was kind of
disappointed. I was severely
disappointed in myself.

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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.

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And I'm just flabbergasted that
my knowledge and my values
towards this and I do not
download songs off of the
torrent.

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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.

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I'm flabbergasted that none of
that has passed down on to her.
So we got to talk about
education.

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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.

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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.

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And I do that in many different
ways.

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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.

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And I know I'm not alone. And
this is good, man. This is
really good that we're starting.

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By the way, if you're listening
on live 365, it's very possible
that the stream is going in and
out.

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Because I'm quite sure that my
daughter is downstairs with her
azureus P to P on.

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And I think I can even see nice
cast telling me that it's messed
up. So, sorry about that.

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But here is someone who is
incredibly smart, who I've known
for almost a decade actually.

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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.

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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.

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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,

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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.

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Hey Adam, it's Andrew Grummit
here, checking in from HQ.

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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.

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So, I'm not in the economist,
but I've been really interested
in this stuff. I think it's
fascinating.

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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.

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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.

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Excuse me, you are a New York
financial guru, savante in
London, the nylon.

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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.

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Yes, indeed. We need some
savants on this. Bring it on.

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The first one, the gold
standard, right, this is part of
Ron Paul's platform. Something
you've mentioned before.

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And there's something about it.
I can't quite get my head
around. So here it is. It's a
thought experiment.

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We know that there's only so
much gold in the earth, right?
There's only so much gold you
can dig up.

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So let's imagine a world where
we have 100 people and 100 gold
pieces, right?

16:13.000 --> 16:21.000
So basically, let's say we start
off with each of those 100
people having one gold piece.

16:21.000 --> 16:27.000
Okay, now, you know, some time
goes by, people have kids and
the population doubles.

16:27.000 --> 16:35.000
So now there are 200 people and
only 100 gold pieces. How do we,
you know, how do we handle that?

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Does each person on average, now
maybe has, you know, half a gold
piece.

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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.

16:54.000 --> 16:59.000
So how does it work, right?
Because generally speaking,
prices go up.

16:59.000 --> 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.

17:10.000 --> 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,

17:20.000 --> 17:24.000
people would have less money
with each successive generation.

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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.

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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.

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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.

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The gold's equating the gold
standard to the way money works
in circulation.

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So let's just remove that for a
second and just say, we have
want them, you know, or sticks
or whatever.

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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.

18:27.000 --> 18:33.000
So what you say, I have to agree
that if we all have an equal
amount of sticks.

18:34.000 --> 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.

18:44.000 --> 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.

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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.

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This is just a village.

19:14.000 --> 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.

19:27.000 --> 19:30.000
And so that's where banking
comes into play.

19:30.000 --> 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.

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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.

19:53.000 --> 20:01.000
So immediate conventional
childish thinking as well, if I
have 10 sticks, I can lend
people 10 sticks.

20:01.000 --> 20:08.000
Well, that's not exactly what is
going on because we have
fractional reserve banking.

20:08.000 --> 20:11.000
And I bet you that that's going
to be Andrew's next question.

20:11.000 --> 20:15.000
So the gold standard is a
different topic altogether,
Andrew.

20:15.000 --> 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.

20:29.000 --> 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.

20:44.000 --> 20:50.000
Inflation of prices, et cetera,
all of it really there's an
equal and opposite reaction for
everything that is done.

20:50.000 --> 20:55.000
And this, of course, is what all
this interest rate talk is all
about.

20:55.000 --> 20:58.000
To now on to Andrew's next
question.

20:58.000 --> 21:06.000
And then there's the second one,
which is the, the fractional
reserve lending system.

21:07.000 --> 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.

21:19.000 --> 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.

21:26.000 --> 21:33.000
It can turn around and invest
something like 90% of that.

21:33.000 --> 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.

21:39.000 --> 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.

21:52.000 --> 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.

22:02.000 --> 22:09.000
And I presume that only works if
your bank is ensured of the some
other deal going on in the
background.

22:09.000 --> 22:12.000
You know, of course, that's
exactly what happens when
there's a run on the bank.

22:12.000 --> 22:22.000
There's a run on the bank then,
you know, all those 10 other
people come running and say,
hey.

22:22.000 --> 22:23.000
Wait a minute, I'm saying it the
wrong way.

22:23.000 --> 22:25.000
See how fucking complicated this
is.

22:26.000 --> 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.

22:36.000 --> 22:40.000
And of course banks don't just
lend out, they borrow all the
time.

22:40.000 --> 22:41.000
That's the business.

22:41.000 --> 22:46.000
The business is borrowing and
lending of money and
arbitraging.

22:46.000 --> 22:53.000
So in other words, bilo sell
high and this can be thousands
of percentages of dollars.

22:53.000 --> 22:56.000
But if you have enough of them,
they start to add up.

22:56.000 --> 23:01.000
And of course lending at the end
of the day is always based on
trust.

23:01.000 --> 23:04.000
Right, that might be where the
10 to one number comes from, but
there's a limit.

23:04.000 --> 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.

23:14.000 --> 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?

23:21.000 --> 23:28.000
That is, well, not make money in
the printing money sense, but
rather make money in the be
profitable sense, right?

23:28.000 --> 23:29.000
A bank is a business.

23:29.000 --> 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.

23:38.000 --> 23:44.000
So in order to make money, they
essentially take your money and
they invest it, right?

23:44.000 --> 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?

23:52.000 --> 23:59.000
So I guess the question is, you
know, how much of that should
they be able to invest?

24:00.000 --> 24:03.000
And where do the limits come
from and what are the
implications of that?

24:03.000 --> 24:08.000
So those are kind of my two
points in this discussion.

24:08.000 --> 24:12.000
I'm really curious to see if
anybody out there has some
thoughts about anyway.

24:12.000 --> 24:16.000
Thanks for having the
discussion, really enjoying
following it.

24:16.000 --> 24:18.000
And that's all for now.

24:18.000 --> 24:19.000
All right, bye Andrew.

24:19.000 --> 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.

24:23.000 --> 24:27.000
Do some of the official
sign-off, Lingo, will you?

24:27.000 --> 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.

24:33.000 --> 24:44.000
And it's kind of a humoristic
cartoon, essentially showing how
all of these lending and
borrowing institutions.

24:44.000 --> 24:46.000
And by the way, that includes
us.

24:46.000 --> 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%.

24:56.000 --> 24:57.000
Right?

24:57.000 --> 25:01.000
So if it's a hundred thousand
dollar house, I put down ten
thousand dollars.

25:01.000 --> 25:03.000
I borrow ninety thousand
dollars.

25:03.000 --> 25:04.000
The house goes up in value.

25:04.000 --> 25:06.000
I've just doubled my money.

25:06.000 --> 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.

25:11.000 --> 25:15.000
They do it with all kinds of
things with the exchanging of
money.

25:15.000 --> 25:17.000
They do it with investments.

25:17.000 --> 25:22.000
They do it with all kinds of
financial instruments.

25:22.000 --> 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.

25:32.000 --> 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.

25:40.000 --> 25:46.000
And in fact, I got a voice
comment here, which kind of
explains the Federal Reserve in
under a minute.

25:46.000 --> 25:49.000
Hi, Adam, Eric from Portland.

25:49.000 --> 25:54.000
This whole Federal Reserve thing
is a little complex for some
people to get their minds
around.

25:54.000 --> 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.

26:01.000 --> 26:02.000
It is not just a dollar bill.

26:02.000 --> 26:03.000
It's a contract.

26:03.000 --> 26:06.000
If you look at the top of it on
the face side, you look at the
top of it.

26:06.000 --> 26:09.000
It's going to say Federal
Reserve, Federal Reserve note.

26:09.000 --> 26:10.000
That's the lender.

26:10.000 --> 26:15.000
Down there, there's little
signatures at the contract
signing for the American
People's

26:15.000 --> 26:18.000
at Treasure and the Secretary of
the Treasury.

26:18.000 --> 26:22.000
Those are the borrowers and
they're signing on our behalf on
the American People's behalf.

26:22.000 --> 26:27.000
So look at a dollar bill as just
a simple contract.

26:27.000 --> 26:33.000
And you'll realize that that
contract is just paper and it's
not backed by anything.

26:33.000 --> 26:34.000
Hope that helps.

26:34.000 --> 26:38.000
It certainly helps for some
part.

26:38.000 --> 26:40.000
Why is it that our political
leaders?

26:40.000 --> 26:43.000
Why is it that why don't they
just take the time out?

26:43.000 --> 26:49.000
Take five minutes and explain in
simple terms because this stuff
is simple.

26:49.000 --> 26:55.000
I mean, yeah, it seems very
complicated because there's lots
of zeroes and it's, you know,

26:55.000 --> 26:59.000
and it's intricately linked to
all kinds of other systems and
issues.

26:59.000 --> 27:02.000
But I think basic economics is,
it wouldn't be bad.

27:02.000 --> 27:05.000
You know, well, we can't expect
that from President Bush.

27:05.000 --> 27:08.000
But why doesn't Obama take some
time and just say that or
Hillary?

27:08.000 --> 27:10.000
Oh, she really understands it.

27:10.000 --> 27:13.000
Just explain how it works where
the money comes from, you know,

27:13.000 --> 27:20.000
explain this situation to the
people so that we as, as a world
population,

27:20.000 --> 27:23.000
because it is interlinked
throughout the world.

27:23.000 --> 27:26.000
This is not just a problem in
the United States.

27:26.000 --> 27:30.000
So we can all understand it and
then we can educate ourselves.

27:30.000 --> 27:36.000
And then stay away from the
pitfalls in the future, which in
this case in the subprime
mortgage crisis

27:36.000 --> 27:43.000
was that we didn't understand
exactly how the adjustable rate
mortgages worked

27:43.000 --> 27:48.000
and that refinancing is only
possible if the housing value
continues to rise

27:48.000 --> 27:55.000
and it's not a set given fact
that house prices always go up.

27:55.000 --> 27:57.000
Very, very simple things.

27:57.000 --> 28:02.000
You know, so instead of people
saying, we were dupped by them
and they screwed us.

28:02.000 --> 28:04.000
Now, you've got to educate
yourself.

28:04.000 --> 28:07.000
But I think we deserve some of
that from our leaders.

28:07.000 --> 28:11.000
And I don't mind being
patronized a little bit like I'm
some idiot because clearly I am.

28:11.000 --> 28:12.000
I don't understand this stuff.

28:12.000 --> 28:15.000
No wonder a lot of smart people
I know understand it.

28:15.000 --> 28:19.000
Thank you to the BBC who had a
fantastic program on last night,

28:19.000 --> 28:23.000
called the Super Rich, the greed
game.

28:23.000 --> 28:27.000
And you can get on the BBC eye
player if you're still in the
UK.

28:27.000 --> 28:29.000
It's good for another six days.

28:29.000 --> 28:33.000
I hope that although I don't
like piracy, but I think it's
such a good piece of work.

28:33.000 --> 28:37.000
And of course, it has been paid
for by the British populace.

28:37.000 --> 28:42.000
I hope someone puts that out
there like on YouTube or Google
video.

28:42.000 --> 28:44.000
So that other people can see it
all hunter-round for it.

28:44.000 --> 28:46.000
But it's just a fantastic show.

28:46.000 --> 28:49.000
A little over the top about the
super rich.

28:49.000 --> 28:52.000
It's like blah, blah, blah,
whatever.

28:52.000 --> 28:56.000
But just understanding what
happened and why the system
broke down.

28:56.000 --> 28:58.000
Then all of a sudden you can put
it in perspective.

28:58.000 --> 29:02.000
And you see all these bank guys,
the guys in the strip bars.

29:02.000 --> 29:06.000
I understand that they just
overplayed their hand and
overplayed the game.

29:06.000 --> 29:11.000
And there was not their own
elders and people responsible.

29:11.000 --> 29:14.000
Played along and did really
educate them as to what could
happen.

29:14.000 --> 29:15.000
And we screwed up.

29:15.000 --> 29:17.000
We'll get out of it.

29:17.000 --> 29:20.000
I do like this news that I saw
from...

29:20.000 --> 29:21.000
Who sent this to me.

29:21.000 --> 29:26.000
I think that Naly Cruz, of
course, is the...

29:26.000 --> 29:31.000
What is her exact title, the
competition minister?

29:31.000 --> 29:36.000
She's the one that makes sure a
company says play honest.

29:36.000 --> 29:41.000
She is now starting
investigations into the state
bailout of Northern Rock.

29:41.000 --> 29:44.000
Because there are European rules
against doing this.

29:44.000 --> 29:48.000
We can't have all of individual
member states of the European
Union.

29:48.000 --> 29:52.000
Just willingly going around and
bailing out whatever and
whatever they want.

29:52.000 --> 29:56.000
And of course, that's where a
lot of the dissatisfaction comes
from.

29:56.000 --> 29:59.000
And that is just the anger that
builds up inside of us.

29:59.000 --> 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.

30:04.000 --> 30:06.000
You know, your kids can run for
office, you know.

30:06.000 --> 30:09.000
It's not too late to let them
know that.

30:09.000 --> 30:15.000
I don't know where I was going
with that crap.

30:15.000 --> 30:18.000
So I almost want to rewind what
I just said.

30:18.000 --> 30:20.000
I was on the roll.

30:20.000 --> 30:23.000
Anyway, we'll work on it.

30:23.000 --> 30:25.000
I need your help, those savants.

30:25.000 --> 30:28.000
Let us know what's going on,
okay?

30:28.000 --> 30:30.000
Hey Adam, it's Jack.

30:30.000 --> 30:32.000
Are the multiculturalism
discussion?

30:32.000 --> 30:40.000
I think it's a dangerous to lump
a whole group of people based on
the actions of a few violent,

30:40.000 --> 30:42.000
so-so-siffrous minority.

30:42.000 --> 30:49.000
As it is dangerous to lump all
journalists based on the
faux-siffrous idiotic Glenn
Beck.

30:49.000 --> 30:53.000
Okay, point will made podcaster
for me to know in his Jack.

30:53.000 --> 30:56.000
Actually, it just came to me
when I was talking about,

30:56.000 --> 30:59.000
thank you, Jack, for kind of
jogging my memory there.

30:59.000 --> 31:06.000
So what really gets people angry
is you see these crises brought
on by big institutions.

31:06.000 --> 31:09.000
And yes, in some cases, very
wealthy people.

31:09.000 --> 31:15.000
And it hurts everybody, but the
people who get helped by the
government, for a number of
reasons, not just altruistic,

31:15.000 --> 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.

31:25.000 --> 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.

31:33.000 --> 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.

31:43.000 --> 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?

31:49.000 --> 31:55.000
Right? Who was the subprime
mortgage based on? Who was the
housing boom based on?

31:55.000 --> 31:59.000
Based on us. Based on us
borrowing to buy.

31:59.000 --> 32:07.000
Selling at a profit, going back,
refinancing, borrowing to buy,
buy sell, buy low sell, high,
make money, party, party.

32:07.000 --> 32:11.000
We did it. So within we can stop
it, right? It's that simple.

32:11.000 --> 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.

32:22.000 --> 32:28.000
Now, of course, to educate
yourself and this is something
that I've been working on as a
personal mission.

32:28.000 --> 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.

32:34.000 --> 32:39.000
If you just go to
news.google.com, you'll see a
whole bunch of stories in
different categories.

32:39.000 --> 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.

32:45.000 --> 32:50.000
Different, like, showbees,
entertainment sports, etc. Now,
I really look at sports ever.

32:50.000 --> 32:54.000
I saw on the page. But what I'm
trying to do now is when I see a
headline.

32:54.000 --> 33:00.000
The first thing I, I, before
clicking on it because that's
where you go down the rabbit
hole.

33:00.000 --> 33:04.000
Before clicking on it, I'm like,
do I really need to know this?

33:04.000 --> 33:09.000
Will it enrich my life? Will it
make any difference to me at
this moment?

33:09.000 --> 33:13.000
I mean, unless you're in like a
major major leisure time moment.

33:15.000 --> 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.

33:22.000 --> 33:25.000
And you know, instead of going
into why I want to click on it.

33:25.000 --> 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.

33:29.000 --> 33:32.000
So I'll sound stupid by not
knowing what happened to her.

33:32.000 --> 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.

33:38.000 --> 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,

33:44.000 --> 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.

33:49.000 --> 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.

33:55.000 --> 33:59.000
That's probably not a very good
idea.

33:59.000 --> 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.

34:10.000 --> 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.

34:18.000 --> 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.

34:25.000 --> 34:28.000
Anything you see evaluate why
you're going to click on that
link.

34:28.000 --> 34:33.000
It would probably boost our
economy by a trillion dollars if
you all did that.

34:33.000 --> 34:37.000
It would save us a lot of time
jerking off doing nothing.

34:37.000 --> 34:39.000
Adam, it's Chris and Nashville.

34:39.000 --> 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.

34:50.000 --> 34:53.000
He's absolutely right.

34:53.000 --> 35:01.000
I'm sick and tired of all those
big brother, you know, all this
reality bullshit.

35:01.000 --> 35:02.000
It's just,

35:02.000 --> 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.

35:09.000 --> 35:15.000
And we kind of had a cliffhanger
that we left on the last show.

35:15.000 --> 35:18.000
So of course, a new one coming
up this weekend.

35:18.000 --> 35:24.000
And I need to provide a rebuttal
because, and this is why I
wanted to just say this for a
second.

35:24.000 --> 35:28.000
I did not say I'm a fan, because
this is, we had a whole
conversation.

35:28.000 --> 35:32.000
And I said, I was a fan of a
certain type of reality
programming.

35:32.000 --> 35:41.000
Namely, the talent contest with
voting and honest judges.

35:41.000 --> 35:47.000
And that and, and there was one
specific example of honesty.

35:47.000 --> 35:52.000
And that'll be part of my
rebuttal, which was Jerry
Springers, nothing but the
truth.

35:52.000 --> 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.

35:57.000 --> 36:01.000
But in general, I will be
talking in my rebuttal about
reality television.

36:01.000 --> 36:06.000
And why I do believe that there
is value to that genre.

36:06.000 --> 36:08.000
And it should be an interesting
show.

36:08.000 --> 36:12.000
So Friday or Saturday, you never
know when we released that.

36:12.000 --> 36:14.000
Hey, Noah, let's play a song.

36:14.000 --> 36:19.000
Something I found on the podcast
music network just uploaded this
morning.

36:19.000 --> 36:25.000
And there's nothing better than
the Rolling Stones than our
Rolling Stones tribute band with
their own material.

36:25.000 --> 36:35.000
And they have the only one going
without giving up.

36:35.000 --> 38:15.000
[ Music ]

38:15.000 --> 38:17.000
Get it out for me now

38:17.000 --> 38:19.000
Just for me to say

38:20.000 --> 38:23.000
Okay, I'll come home from

38:23.000 --> 38:26.000
I just need your help

38:29.000 --> 38:31.000
Oh yeah

38:31.000 --> 39:31.000
[ Music ]

39:31.000 --> 39:33.000
Oh yeah

39:38.000 --> 39:40.000
I thought that was kind of
interesting

39:40.000 --> 39:42.000
The name was really what caught
my eye

39:42.000 --> 39:43.000
The power goats

39:44.000 --> 39:45.000
Deep love

39:45.000 --> 39:46.000
That attention to potting music

39:46.000 --> 39:50.000
Now we're going to force I will
share the location of this band

39:50.000 --> 39:52.000
And their music on the PMN

39:52.000 --> 39:55.000
Through the show notes at the
daily source code

39:55.000 --> 39:57.000
At daily source code.com

39:57.000 --> 39:58.000
Actually

39:58.000 --> 40:00.000
Okay, I think we're going to
leave it at that for today

40:00.000 --> 40:02.000
Because it'll want to think
about

40:02.000 --> 40:05.000
And I'm still in the middle of
my learning journey

40:05.000 --> 40:06.000
And my quest

40:06.000 --> 40:07.000
So I will turn it over to the
sabons

40:07.000 --> 40:09.000
You know how to reach me at

40:09.000 --> 40:10.000
Adam at podshow.com

40:10.000 --> 40:12.000
Of course if you look at the
show notes

40:12.000 --> 40:13.000
You can find the

40:13.000 --> 40:15.000
Phone numbers to call in

40:15.000 --> 40:16.000
And leave some feedback

40:16.000 --> 40:17.000
Keep it short

40:17.000 --> 40:18.000
If possible

40:18.000 --> 40:20.000
In fact, can't someone out there

40:20.000 --> 40:22.000
Describe how our economy works

40:22.000 --> 40:24.000
And how the Federal Reserve
works

40:24.000 --> 40:26.000
And how certain elements or
discussions

40:26.000 --> 40:28.000
We've talked about in under 60
seconds

40:28.000 --> 40:29.000
I mean, that should be possible

40:29.000 --> 40:30.000
Something that I can just

40:30.000 --> 40:32.000
Fire off an MP3 to my daughter

40:32.000 --> 40:34.000
And she'll understand it

40:34.000 --> 40:35.000
Wouldn't that be amazing?

40:35.000 --> 40:37.000
Wouldn't we be doing something
interesting?

40:37.000 --> 40:38.000
All right everybody

40:38.000 --> 40:39.000
Thank you very much for
listening

40:39.000 --> 40:41.000
I think the live 365 stream

40:41.000 --> 40:42.000
Wasn't too great today

40:42.000 --> 40:44.000
I'm not quite sure what the
problem is

40:44.000 --> 40:46.000
Also our bandwidth here as you
know

40:46.000 --> 40:48.000
Is severely hampered by the

40:48.000 --> 40:49.000
The illegality of a teenager

40:49.000 --> 40:51.000
Who needs more speaking to

40:51.000 --> 40:53.000
Before I start closing a port

40:53.000 --> 40:54.000
Because that of course is the
ultimate

40:54.000 --> 40:56.000
Why to get whatever I want

40:56.000 --> 40:59.000
Tomorrow I have some more dental
work

40:59.000 --> 41:01.000
Being done so I don't know if
I'll do a show

41:01.000 --> 41:03.000
But Friday definitely full on

41:03.000 --> 41:04.000
Fubar I hope we'll have the
stream up

41:04.000 --> 41:06.000
And running perfectly so get
your songs in

41:06.000 --> 41:08.000
Early so we can crank it out

41:08.000 --> 41:10.000
Have a maximum music good time

41:10.000 --> 41:13.000
Live your life with passion

41:13.000 --> 41:16.000
And because that is something
you control

41:16.000 --> 41:19.000
And while others don't control
all of it

41:19.000 --> 41:21.000
Enjoy your freedom

41:21.000 --> 41:23.000
Another pop show podcast

41:23.000 --> 41:25.000
Stick it in your ear