The Todd Herman Show
Our Economy As Dry Tinder_ Which Industries Get Burned_ Zach Abraham Joins US Ep-1742
Zach Abraham, Chief Investment Officer at Bulwark Capital Management joins. We began our discussion with the question, wouldn't it seem that an attempted assassination of the leading Republican candidate for president should have affected the stock market? And on that topic of the stock market and the economy, something occurred to me as Zach was teaching: there is a metaphor between our economy and the decision to not manage our forests. And, I ask Zach what he thinks about this supposed “transfer of power” from Biden to Harris and if would hire Kamala Harris to be on a company board.
What does God’s Word say?
Colossians 1:16-17 16 For in him all things were created: things in heaven and on earth, visible and invisible, whether thrones or powers or rulers or authorities; all things have been created through him and for him. 17 He is before all things, and in him all things hold together.
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- Duration:
- 54m
- Broadcast on:
- 26 Jul 2024
- Audio Format:
- mp3
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Do assassination attempts of former presidents have any sort of effect on the economy of a nation? What about the sudden replacements of the guy who's the only guy who can rescue us from a literal orange hitler? Which hitler is suddenly the guy who cannot risk us from literal orange hitler, but orange can be Ken. We'll talk about this in the economic impact of it, the societal impact of it, and the thoughts of the head of our friend Zach Cabraham. Save on O'Reilly Break Parts Cleaner. Get two cans of O'Reilly Break Parts Cleaner for just $8, valid in store only at O'Reilly Auto Parts. O'Reilly Auto Parts. The Todd Herman Show is 100% disapproved by big pharma technocrats and tyrants everywhere. Now, from the high mountains of free America, here's the Emerald City Exile. Todd Herman. Today is the day the Lord has made, and these are the times to which God has decided we should live. It's wise counsel today. Zach Cabraham joins me. Oh, so when you were over here, we had such fun having you in the studio, and I miss having you sitting next to me. And the weekend I went up to youth camp, I'm standing there, minding my own business, having a great privilege of watching God work in the lives of these young men, these boys, and being led by some young men, by the way. And my friend Kevin comes up to me and he thinks he means well. And first of all, he uses my old high school nickname, Herman. Hey, Herman, they shot Trump. I was like, yeah, yeah, yeah, seriously, they shot President Trump. And at that moment, I'm like, oh my gosh, camp is going to be over. I'm going to have to go figure out how to make a YouTube video. I'm going to have to respond to this very quickly. Where were you when you learned about it? Let's see, I was on the golf course with a mutual friend of ours. Yes, and I'll just use a first name, but Mark, and with my son and playing a spectacular golf course, by the way. And at first I went, you know, I don't, I don't think a lot of people should end the managing money for a living because it's really stressful. But the one thing that is nice about is it really desensitizes you to nonsense. You know, you have to brush off so many things. So my first thought was fake news, whatever, you know, and then I followed up and heard from a couple other very reliable people. And this all probably happened in the matter of two to three minutes. And at first, you know, shot, like I'm sitting there going, okay, is he dead? You know, what's going on? But yeah, I was on a golf course. And, and, you know, it, it's rattling. I was alive when, when Hinkley went after Reagan. But, you know, I was so young, I was probably four or five years old at the time. So I don't, you know, I don't really remember it. And I just kind of remember sitting back in my golf cart going. Holy smokes, just when you don't think things can get any crazier or any more vicious, you know, here we go. So yeah, that's, that's what I was doing. And then, and then I think one of my first thoughts, I was like, because I knew where you were at the time. And I remember, because I texted you probably not too long afterwards. I just thought, man, I wonder if Todd knows, because I didn't know if you had service or anything like that up there. I had to go get onto the Wi-Fi because other they don't want the boys having access to Wi-Fi. So they get the secret Wi-Fi. And then, oh my gosh, the technology gymnastics of trying to get videos to upload. And please don't ever tell me Apple is slick tech. It's gross. It's horrible. It is. It is. I saw it in this folder. And here it is. And everybody has access to it. Then the folder disappears. No, it was just the, this nightmare. But I wanted to ask you, it seems to me, and maybe this is me just being completely naive. But when we have, let's see, the day before he's going to be the official nominee, the Republican, you know, the Republican leader is nearly assassinated in what can only be described to me at this point as a purposeful decision to, hey, just let one get through. There's just too much. It's too much Jeff Epstein. It's too much. Oh, the cameras in the cell, they broke. And the cameras outside the cell broke. And, oh, we accidentally erased the 911 messages and, oh, we forgot he was on suicide watch. And, oh, were there sheets in there? How'd sheets get in there? And when you see that, and then the very next day, figurehead Biden says, well, if it's a bad cold, I guess I won't run after the failed attempt, that should probably have an effect on the stock market because this goes full-on. It's not banana republic anymore. This is like smashed banana salad republic. Yeah, and it didn't. No, and remember, and this is kind of what I've been telling people, is politics matter a lot less than you think in a scenario where the federal reserve and the federal government are engaged in what they do. And I think one of the things that people need to remember is, remember, Rome did not collapse because prices went down, right? Rome collapsed because prices went up, right? The end of every empire, and you can go, we can be talking about the British empire, we can be talking about, you can go thousands of years back and trace this to Chinese dynasties. The number one reason that you had dynastic turnover back in the Chinese dynastic days was inflation, currency collapse. And so to be clear, and I've been pretty vociferous about this, we're not on the edge of a currency collapse because we're still the clean, we're winning a race by default. But the primary driver of assets, I mean, first of all, you've had unbelievably profitable companies, unlike anything we've ever seen over the last 13 to 14 years, so you can't look past that. But generally speaking, what's driving asset prices is our government spending up to 7% deficits to GDP, right? Stock market did pretty well during the '40s as well in the middle of World War II. Why? I mean, the government was just printing money like nobody's business, right? And for different reasons, that was actually more investment, right? They were investing in us being the sovereign, the world reserve currency, they were investing in us being the military superpower of the next 70, 80 years. So it's not a good comp, meaning I think the reason we were spending, what we were spending when you consider our budgets at the time, I think the spending and deficits we ran in World War II were more than justified, and it's precisely why you build a surplus. We didn't have a surplus at the time, we were coming out of the Great Depression, but, you know, debt as a percentage of GDP was a fraction of what it is now. Yeah. So, but, you know, at the end of the day, the other thing is, is that when you've had, we're in very undiscovered country right now as a country as far as the financial markets are concerned, because in our country, you've averaged a recession every seven years. We haven't had a proper recession since '08, '09, right? Longest bull run, biggest bull market run in history, and people buy stocks because they go up, right? Nobody's doing the fundamental analysis. So, literally, it's going to take, you know, a bucket of cold water, which could take the form of, you know, increased political tensions. You know, the fear right now, an average investor doesn't have a fear of losing money in the market. They have a fear of not being invested enough in the big names. And until that behavior shifts, and you could see it starting to happen now. I mean, I'm not making a call here. It's a fool's errand to try to predict short-term market movements and things of that nature. But, you know, I think what you could have is you could have a beginning of market starting to look at more normal things, starting to pay attention to more fundamentals. But, yeah, no, it didn't blink. And quite honestly, it didn't surprise me that it didn't blink. You see the transfer of power that 14 million people voted for the figurehead. He was the presumptive nominee, and then it's -- oh, yeah, never mind. Now, it's -- Well, it's how they save democracy, Tom. Right. A metaphor occurs to me as you were speaking about the no-real recession. There's a metaphor. Let me think through this. Let me formulate this as my mind. And it's related to the natural world. It's related to the natural resources. I've been telling people this week about when you were in here, you said our studio smelled like a natural resource, and it was ozone. You came in, your exact words, and I wish I had you in camera was, "Wow, it smells like a thunderstorm in here." And you did the script that. That was just so cool. The studio does smell that way. It doesn't smell like gym clothes. This week I've been doing -- I'm doing my 24 hour workout this weekend, by the way. So in prepping for that, I did two, of course, this morning, two or three. I forget what day it is. But I came in, and I knew I stunk. So I did take a swim before I came in. And don't you smell just really good when you stink of trout slime? That's when you know you smell good. But thank God we've got the thunderstorm, too. This is the device that is producing ozone as we speak. And right now, it's producing enough ozone to mask the fact that we're six hours into recording today. And the coffee breath, all that. You probably have worse smells in your house as you have cats that guarantee you do. If you have cigarettes, no offense or cigars, I guarantee you have worse smells. This can negate it. If it can negate kid puke on a seat in the sun at 103 degrees for two days in Idaho, which it did, it can negate whatever is in your house, including, by the way, viruses. This is the Octioleaf two thunderstorm device. Here's how to get a massive savings. Three devices, whole home coverage at a $200 savings. Just click over to Edenpeardeals.com and enter code Todd three. Couldn't be easier. My name, two D D number three. Edenpeardeals.com is code Todd three. Breathe a breath of fresh air again. Edenpeardeals.com code Todd threes. Okay. Perhaps with us, chief and investment officer, but we're capital management. All right. Here's the help me understand this. And I want to get on to do you believe the secret service? They tried their very, very, very, very bestest and your assessment of Cami. If you know forest management, you know, you thin your forests. We just did this in our, in our timber is we had a company come out who knows how to, you know, fell big trees and they've, they fell probably six of our trees. And now I'm busy turning them into firewood. They've sat the season, they've, they've become seasoned and dried out. And those guys that came out, they looked at our property and they said, okay, over here, this is all defensible. You've got a really good defensible property. These are the trees that are dangerous. These are the ones we trim the limbs on because limbs explode. These can land on your house and the west coast, they stopped doing that. They wouldn't let the fires start naturally. So when lightning came, they'd send in the airplanes and stop the fires. They wouldn't manage the forest naturally. They wouldn't let people harvest the forest naturally because we are meant to harvest forests. We live here. We're designed to live here. We're designed to use wood just as much as beavers are designed to eat it. We're designed to use it to build. And all of a sudden you have these massive, massive fires like we've never seen before. So I'm looking at the refusal to allow natural results in an economy, a natural recession building up Tinder and there's this Tinder box economy. I mean, is that a tortured metaphor? It's not a tortured metaphor. And I honestly don't think it's been tortured enough, meaning it's the arrogance and the hubris of man that thinks that they know we have to avoid recession. Recession isn't good for people and you're like, man, that's kind of an odd observation to take considering that we've previously managed things in a way that we let these things run their course. And we've developed the most dynamic, strongest economy in the history of mankind. So it's kind of odd to sit there and say, yeah, but that approach didn't work well. We need to do better, right? It's a strange thing. And especially when you consider the, when you consider the social costs, right? Like, meaning, I guarantee you, actions not been the same as they were in '08, '09. And the Fed and the federal government would have played it differently since then. I don't know exactly where we would be socially or culturally, but I guarantee you we wouldn't be in the same place. And what I mean by that is it would most assuredly would be somewhat better, right? And so everybody, everybody thinks that they know, especially these economists, especially Ivy League economists, right? They're the brightest guys in the room just to ask them. So they know what's good. And when you sit there and you, when it's always dessert, and like you said, when we're never thinning out the herd, I mean, it's a natural law. You see it everywhere, right? And you let herds of animals go unchecked and not challenged. You see disease and crazy things pop up and mutations and all kinds of things that aren't natural because, you know, I mean, you know, even if you're into Eastern religions, right? The yinny yang, same idea. You get the good and the bad. And you know, I think it's a scary thing. And I think the other thing that you add into it, you know, I was sitting, I don't know if you and I have ever had a conversation about this. But I was sitting there, I think my wife and I were watching a sermon or something this weekend. And it just a random idea popped into my head where I went, you know, so you add all this overreaction and all of this interference from government and government agencies, the Federal Reserve, everything that we know that's gone on, quantitative easing. And then you add on top of that the advent and the birth of social media, right? Like, so I started thinking about social media and I thought, you know, social media really is the modern tower of battle, right? It's even crazy if you think about the metaphors, right? Most of us get our social media information via satellite feed, maybe not directly to our phone, but inadvertently, right? It gets course through it. Well, what was the tower of battle? It was a tower that reached all the way up to the sky, kind of a creepy comparison, right? It reached up to the sky. Well, what was up in the sky and man sat back and marveled at their ingenuity. And then as a curse, they were broken into factions. But what's happened to our culture? It's become so much more tribalistic. We've been broken into factions to the point where we can't even communicate anymore. The common language has been lost, right? The civil common language. And a whole group of people bleeding communism is superior to capitalism. You just sit back and you watch human behavior doesn't change. And at every corner, at every turn, humans think they can change it. They can dictate it, that we can get all flop and no substance. And there's no consequence for it. And here we are. It was one of those things where I just kept rolling that analogy through my head and I went, holy smokes, you know, social media and the internet, the combo of the two truly have been the advent of the, you know, it's the modern day tower of battle. And you know, and then you put the political response to all the different things that they've done economically and politically and it's no wonder that this country's in the place of the town. So it's a wonderful way to put it, the tower of Babel, that we don't even have a common of course definition of truth and this is much bemoans. I want to toss something and insert it in your mind and have you think about this. This metaphor of the dry tinder. So I'm thinking about what industries represent the most dry tinder. For instance, I think of the fragility of our banking system. Usually we know it's fragile because they have to continue this trust test and continue to pump in Monday. I'm thinking of the, the, the tenuous nature of commercial real estate in some of these cities that are being gutted. And I think purposely with this crime. So I wanted to just have you think about where is the most dry tinder that one match just boom blows us up and it could be tech. It could be these seven companies that get, you know, this automatic 40% I think of our investment monies through these electronic training funds. So where is that dry tinder? Think about that for a second. Let me give a health metaphor that I think people have these sort of secrets, not secret, but asymptomatic conditions and they're dry tinder. You might, for instance, feel very sluggish, very slow, kind of brain fogged. And if that is the case and you are overweight to obese, you might have a symptomatic fatty liver. Here's all this means you can make it as fancy as you want. I'll make it clear as I can. Your liver has too much fat around it. It's putting pressure on the organ. The organ cannot do its job. It cannot properly filter blood. And when that happens, now you get into this case, you want to talk dry tinder. At some point, your blood becomes X amount poorly filtered. And now you have a real problem. It's not just sluggishness. So fortunately, there's a liver health formula that contains 11 clinically proven botanicals that help protect your liver can help you lose the belly fat, which is likely the cause of fatty liver before it digresses your body into a liver disease, which you do not want. This is not something you should take for your entire life. This is a step gap measure to protect yourself from liver disease. And here's what you can do is you go to getleverhelp.com/todd. You buy a 30 day supply of this getleverhelp.com/todd, a 30 day supply, and you will also get a free bonus gift with your order and a bottle of blood sugar formula to help you maintain good blood sugar. So again, that's a 30 day supply at getleverhelp.com/todd, a free bottle of blood sugar formula 3 plus another free bonus gift. Get to getleverhelp.com/todd, that's getleverhelp.com/todd, and don't let this dry tender exist within your body. Now, Zach, we know that we can see bank failures again and again. We know that they leap into rescue because it defines too big to fail. That seems to me to be a great, big, huge patch of super dry tender right under a failed or about to fail electrical transmission system. That industry seems to me to be the one that's the most clearly dry tender. Are there others? No, no, and I don't think that anybody knowledgeable of the system could argue with you because that banking system, I mean, think about what we saw last year, right? You literally had a scenario where without the, and to some degrees, you need something like this, but we've just gone way overboard, but you had a scenario where you were going to watch the vast majority of the regional banking system in our company collapse last year, 2023. And had you not been able to do what? Had you not been able to print money, right? So when I look at all of it, I think the biggest dry, tender area in our entire economy is that when we run into problems, which we eventually will, eventually can be a longer period of time than most people think, but when you run into a scenario where we just can't print money anymore, we've built an economy and a financial system that is reliant on that. And I really don't, I really think that that's beyond the point of being able to debate that. The assumption that the players have is that that ability to print money will never not be there. So yeah, the banking system, I mean, look, you had, you had a Fed funds rate go to five and a quarter percent and that almost toppled your entire regional banking system. I think that should tell you everything you need to know. So explain why people, there are people who are very sophisticated who get that, but the Fed rate goes to what? Five and a quarter. So we went from zero percent. Now granted, it was a very fast move and now it's going to be hard on banks. But it was the most telegraph move, meaning we had several investments that made money on bottom down and on interest rates going up because you had inflation at four to your highs and you knew that the Fed had no choice but to raise interest rates, right? Well, then you looked over and you saw these, you saw these regional banks that owned a bunch of long duration, meaning they owned long-term bonds. They get hit the hardest and that was the underlying collateral of their asset stack. And all of a sudden those banks started tipping over. And one of the reasons they did that is because the Fed has anesthetized risk. They've sanitized risk for so long. Right. It's you and I talked about it at the time. It's Silicon Valley Bank. Remember, remember who their head risk manager was? Yeah, she was working on a gay pride year, decade, century, right? Right. And so their bank blew up. Shocker. Right. Right. So let me say it this way then. Okay. I want to just compare this. Our food prices, core food prices have gone up 29%. Right. And so they remove food and energy from the CPI, the consumer price index. Oh, the consumer price index is fine. But the American families are expected to absorb a 29% increase in food costs and to not topple a bank system sees a 5.5% increase in cost. And it nearly topples them that they expect us to stomach a 29% increase in food, 39% in energy. Right. Okay. Right. That's tinderbox, man. All that takes is like 6%. If the Fed says it has to be 6%, how many banks would we lose if they didn't come and bail that out until sometime, as you said, they reached a point where, well, actually, we don't have the money. Yeah. I mean, if you if you played it straight up, if they couldn't bail them out, I mean, that five and a half to 6% is proven to be the breaking point. Now I'm sure a lot of those banks, I'm sure that mark is a bit higher now because a lot of those banks, you know, obviously realized how close they were to destruction. So I'm sure that they would think and hope that they've made some adjustments to their risk management processes, which I'm sure the vast majority of them have. But, um, no, that's that's the thing and this is the thing about fragility. Right. It's it's I don't know if you were the one telling this story, but they didn't experiment one time where they were growing trees in this bubble, right? And they were trying to curate the ultimate environment. And what they saw is when they took the bubble away, even the slightest wind would come along and just level the trees. Why? Because they hadn't faced any fires, they hadn't faced any resistance. Right. And, and that sanitization of risk is inherently making the system more fragile. It just has to, right? Because if I'm not worried about this consequence, if I'm holding back the waters, that's a temporary measure, right? Eventually, my ability to hold back or put enough fingers in the die or to hold back the waters, that those are temporary measures. Now, temporary can get distorted because temporary can last again, you know, it can last much longer than people think, but the inevitability of temporary measures failing is 100%. Yeah. So you buy definition, you are creating a more fragile society. And you're doing it because of the inconvenience of hardship over the short term. And yeah, I mean, you look, the, the, you're going to reap the, you're going to reap the, the, the, what's the term I'm going to reap the whirlwind. Right. Yeah. And, and it's inevitable. And eventually the pressure release will be inflation. It will be the degradation of the US dollar versus other currencies. We've already seen the inflationary part, haven't seen the degradation of the US dollar yet. I mean, the dollar index is still at 105. And again, people are shocked when I tell them that, but it's the only reason it's there. It's not a, it's not a tip of the cap to how we're doing things or a vote of confidence for how we're doing things. It has to do with the fact that we're the world's reserve currency and we're still the cleanest dirty shirt. So, you know, the other, the other Tinder box, it's something that could feed right into that is the lack of investment in the natural resources. Right. Another way that they've made the system more fragile is when you get in there and start distorting things on a financial level, what you're, what you are inadvertently incentivizing is what we refer to as the misallocation of capital, meaning think of all the VC money that has poured into even some really stupid, ridiculous non-sac, look at all the people, look at all the money that flew into FTX, which was a complete sham. And anybody that had ever navigated microcap companies or microcap natural resource companies, you could see what these guys were doing. It was literally like watching a pump and dump scheme in the penny markets, you know. And you had prominent people and investors throwing money into FTX and me and, and other buddies, I know that we're managing money, you know, six, eight months before it collapsed, we're all sitting there going, hey, this is a, this is a policy scheme, man. Right. Watch this thing's going to collapse. And, and, and, and people are just deaf to those, to those mornings because the, again, you just run around and sanitize risk for so long that everybody just thinks stocks go up, you know. And this is the thing is like I'm picturing now, I'm picturing not the power lines above the banking sector, um, power lines that are going to fail. That's one tinderbox, but you mentioned FTX where there's one, there's more. And if you ever do a drive around with like a, if you go into rural areas with a fire chief or someone who works in, in forest fire management, they will drive by a house and go see that right there. What? You don't see it? I see like someone's working on their land, they've got a caterpillar up there. Right. Do you see that? Oh, is that a fuel container? Yeah. That's a fuel container. Do you see that propane tank? Oh, okay. So that's right next to the fuel container. Right. Do you see what can happen here? Very, very liquidy splits. Right. You see that fuel container, it gets, catches fire. There is a spark from that caterpillar. It catches fire. That plastic fuel container melts. That thing goes up and it's 25 yards from a 2,000 gallon propane tank. That's what they see. So I'm thinking of more FTXs because where there's some, there's more and it's not that these are bad people. It's just that people like they've been lulled into this. It's never happened so far. So it won't ever happen. So I want to talk about more FTXs, but I also want to get back into this cameo Harris fear that sweeping the country and from your view as a guy who helps manage executive teams and sits on boards. Do you believe that this was a voluntary transfer of power? And what your sense is on that. We'll continue to talk with Zack Abraham, chief investment officer, capital management. I am, as I said to Zack, I'm planning my 24 hour workout. We made the go, no go decision yesterday. And it was my coach and my sports med guy, my friend, both of them are friends. We had this group discussion, do we going to do this? Yes. Do I have time to recover before I go to seal fit? Yes. Am I going to improve my body doing this? No. Am I going to get stronger? No. Am I going to gain more skill? No. One thing and one thing only mental. I can work out for 24 hours. Therefore seal fits going to be hard. It's going to suck. And I choose to thrive in that environment. I want to be a contributor to the team. I do not want to drag the team down. I want to be able to help these young guys in any way I can, even though there's no chance that I'm going to gain physical skill over them, but I can do this. I can prep for this using the native path collagen. This is going to be part of my prep. Clearly I'm going to really hydrate. Clearly I'm going to rest two weeks before I go down, but you better believe I'm going to be drinking the heck out of native path collagen, which is a single ingredient formula. It has no fillers, no additives, no artificial sweeteners. It's third party certified. And they look for heavy metals to make sure that they've got safety at the heart of this. And it's completely flavorless. You can mix it into anything. You can put it into food, into drink. And it is scientifically back, their formula is scientifically back to increase bone mineral density, so I'm less likely to break a bone when I fall off of some obstacle course thing at four o'clock in the morning with sand all over my feet. It accelerates tissue recovery. And for me, when you take collagen before a big workout, in this case, 50 hours of workout or so, you end up not destroying your joints. So right now you can visit get native path.com/tod. You can stock up a native path collagen for an incredible savings of up to 45% off plus free shipping. Every order comes with a 365 day money back guarantee, so you can try it risk free today. My website again is get native path.com/tod, save up to 45% off native path collagen, get native path.com/tod. So that was my metaphor, Zach. This latest one is it's a rural property, guys got his caterpillar over here right next to it, a fuel container of plastic, and about 25 yards from that, a $2,000 propane tank. Fire spectra sees that. Here's what he sees. Tree Falls hits that fuel tank, causes a spark off the caterpillar. This whole hill's on fire in about 15 seconds, that propane tank is going to explode, but it's not going to explode in 15 seconds, but it's surrounded by fire. There's the house, there's the hill of 400 acres of dry tinder up the hill and three more houses. And guess what they have, $2,000 to $5,000 propane tanks, a gallon propane tanks up there, and they've got 20 to 25 people. And behind that is a million acres and a bunch of other homes. So with FTX out there, do you think there are more FTX's that are dry tinder? And do you think that my podcast viewers, podcast family, do you think they're invested in these things? Oh, well, they certainly are. They are. And they're, but yeah, yeah, by that, absolutely. I mean, if they own, especially if they own index funds and absolutely mutual funds and the reasons. Wait, wait, mutual funds have FTX type things in them? Oh, for sure. Yeah. And like I said, you can make an argument that the big banks are like that, right? Like I said, I mean, if you understand the ways that the big banks, you know, the changes have been made in the big banks and the way that they work, again, they're subject to the same issues that the regional banks are too. They just have the implied backing of the Federal Reserve, right? So, and your analogy of the farm and the fuel tank are great, right? Because we can dig fire ditches around there. We can, we can do all these kinds of things and convince ourselves that we fireproof that area. Again, what do we know? We know that eventually, right? You will get a fire that jumps those. Why? Because it's what happens. It's what life is all about, right? And so you make the choices of culture. Are you going to eat your seed corn or are you going to save it? Eating seed corn is fun. You know what? Let's have a. Let's have a big party. Yeah. And A, and it's great. It makes for great times. What's the issue next fall? You got nothing to eat, right? So, and that's one of the really tough things about watching some of the decisions this country is making. And I, you know, I think everybody knows that I'm pretty level headed about this. I don't think there are many guys out there like me that see these issues, but then also say, look, guys, I don't see imminent collapse of the US dollar and I don't think you should take your money and buy, you know, exchange all your stocks for physical gold. Who could have seen that disrupting the natural flow of this economy that created the greatest economy and the most dynamic economy in the history in the history of humankind that if you interfere with that because you don't like to eat your vegetables anymore and you just want seed corn all the time, that it's not going to be as dynamic. It's not going to work as well and it's probably going to end up toppling. But of course it is. You're not doing the same things. It's like when a team wins the Super Bowl and all of a sudden they're like, hey, we're going to start doing things completely different. Okay. Well, then don't expect a continued string of Super Bowls. Yeah. Right. And that's what we've done. Right. We were a dynasty. We were we three-peded, we four-peded. And then all of a sudden we decided we didn't like training camp, right? So we're not going to go to training camp. We're not going to do calisthenics. We're not going to work out. And why are we still winning Super Bowls? Well, are you an idiot? You should not work it out, man. Okay. You're not paying the price. Get me with another kind of just metaphor that just hit me. So we continue. The government continues to conjure fake money and put fake money into the system. And eventually, okay, so that's working and we're propping stuff up and people pretending it's okay and the big seven, they're getting their automatic ETF investments. But at some point, enough fakery hits the system that it notices. For instance, this can happen to you. You can breathe a certain amount of carbon dioxide, okay? No problem. You feel a little bit lightheaded. It's not great for you. But at a certain point, though, it's that say 5% carbon dioxide, now you're like, gosh, I'm going to have trouble catching my breath. I don't feel that great. I feel lightheaded. Now, it's 7%, it's 9%, and now you're in deep trouble, right? And eventually, the room fills up with all carbon dioxide. Now there's not enough oxygen. So can that happen in a financial market where there is fake money works now? Fake money can sustain us. But eventually, the fake money is like you've been sitting in a closed room and now you're breathing what you've exhaled all this time. You're breathing pure carbon dioxide. Does that metaphor work? Yeah, absolutely. And I'll just give you a perfect example of it, which is if there was some thing that occurred where the majority of the rest of the world decided to go with a different currency union and the dollar was instantly a competitive asset, you would see a massive economic hit to our country. You would see a massive exodus of capital out of our markets. Why is that? Because a lot of the dynamism, now don't give me wrong, the US financial system is still the best in every single way. But again, it's not the best because we're doing it the way we've always done it. It's the best because everybody else is acting like bigger idiots than we are, right? Or they're more corrupt than we are, or they even print more money than we are. But at some point, that's going to stop. Why? Because they don't have the ability to sanitize all of their risk constantly, right? So when that ability, like I've said before, when that ability for us to print without any consequences, relatively speaking, when that goes away, you'll see a lot of things topple, right? If banks had to stand on their own, you would see a lot of things topple. Why? Because, you know, you'd probably have inflation, the Fed wouldn't be able to contain interest rates anymore. They wouldn't be able to print the money and come in and sanitize these bank's balance sheets. So what would happen all of a sudden? You'd see what happened in '08, '09, which all of a sudden you've got all this collateral that we had priced at, you know, 100 pennies on the dollar, you'd see it worth 30 cents. And then boom, instantly overnight, the bank's balance sheet goes from healthy to underwater and they got to get closed down, right? So I mean, that's the thing and what's really, what's nerve-wracking to me, long-run speaking, is the longer you do this, the more fragile it gets, right? Because you're building on a faulty foundation. I would rather have one story built on a faulty foundation as opposed to five, right? There's less weight, there's less pressure. Okay. So what are we doing? I mean, look at the bank run, look at COVID, look at '08, '09, look at the shale collapse in 2016, look at the European debt crisis, right? What have we done? We just kept building story and story and story and story. CPI, take energy, take food out of it, unemployment numbers. When you quit looking for a job for a year, now you're not unemployed. If you leave a good salary job of 250 grand a year to work three part times at 30 grand a year for a total net loss of 140,000 per year to your income, lucky you, you have three jobs. Yeah. So it's, you talk about tower of Babel. I mean, our financial system is false story upon false story, upon false story. It doesn't get more false than Kamie Harris and I want to just, I want to bring this back to kind of where we started a little bit, Zach, was on the political front. And so what we do this and what we load up for this conversation, I want to address people who have, because I've lately, I screwed up my neck, wrestling my friend Ben and you've not met Ben. It was my decision to wrestle him. He is one of the strongest human beings I've ever known. He's elite athlete level dude and he's half my age, but he'd never wrestled before. So I want you to know I took three takedowns to one, but the minute Ben figured it out, he slammed me and then he celebrated, he got up and said, I bet I hurt your neck old man. He didn't really say that. It was, it, it happened. And I don't blame Ben even a little bit. He's my sports med guy and he's been really helping me with these incredible treatments because I get this neuropathy in my fingers and it's clearly a result of this thing in my neck and it's going away. So it's not permanent, but to people who have this, how on earth do you deal with this with your fingers? Not all the time or tingling. I don't, I mean, in this, this nerve pain and I was showing Ben the other day, I went to get treatment. I'm like, no, dude, my lat is lit up. This lat is locked and he goes, no, Todd, your lat is exactly the same on your left as in your right. It's a perceived difference. It's nerve. I could not do what you do if you have this neuropathy and in your legs. Can I tell you something that renew.healthcares had incredible results with neuropathy because of the inflammation involved, if it's chronic neuropathy and you, I guarantee you've got people telling you, yeah, back surgery. That'll fix it. Yeah. Cut in your body. That's probably the best way to do it. Don't try it. It's something non-invasive. Do this. Please, please just get to renew.healthcare. Talk about this horrible neuropathy that's keeping you from movement and I don't know how you sleep when it's this way all the time. I can't sleep on my left side right now. I hate it, but you live this way. Get a renew.healthcare, they'll look at any MRIs, they'll look at the information you have from your doctors, they'll interact. If they can help you, they'll give you the thumbs up. If they can't, they'll say they can't. If they think they can, they'll tell you, we think it's 50% we can help. They'll give you the percentage. Then when you agree to go down, you're going to meet people who don't view this as, hey, here come some patients, get them in and out. You meet people who want to get to know you, who want to spend time with you, want to maybe go to dinner with you if you play golf. I know Steve and the gang down there loves to play golf and they love their city of Port of Aata. They'll, in fact, tell you where to go and some places to stay and very often they end up taking everybody to dinner. That's just who they are. They use ethically gathered stem cells from placentas and umbilical cords only. No boarded babies at all ever and they culture the stem cells they collect from these mothers. They pay for the childbirth of these mothers, they watch them from the very beginning through the entire process and they pick the best stem cells and then the culture, which means they're the safest possible variety of stem cells and they can rebuild tissue, cartilage, muscle, tendon, and they get in and they attack that inflammation. It's full spectrum that includes getting into a hyperbaric chamber and vitamin mineral treatments. It's the whole thing adds up to elevating your quality of life. Go to renew.healthcare, that's renew.healthcare, simply tell them you are a podcast indoor radio show family member. That's renew.healthcare. So, Zach, the Cammy Harris thing, let's just review. The figurehead is not dropping out. He is firm. The morning that he dropped out, his co-chair of the campaign said he's not dropping out. Let me be clear. He's made a decision. He's running. Then the figurehead drops out of sight. We have now some verified reports from Logs Vegas police that they were told he had a medical emergency, so he was going to be airlifted to back east immediately as soon as possible. Then all of a sudden, here's Cammy Harris, and boom, she's got 50 million. And now Biden's forgotten. You got Gavin Newsom. He's not stepping up. Other Democrats are stepping up. No, Cammy's the lady, a woman who gathered a massive 1% of support in the Democrat primary last time. She cackles when she talks. She is duplicitous in mean and scheming. And she is now the great, great, great leader of the Democrat party, even with the figurehead still in office. You guy who sits on boards, you manage corporate boards. If you came back from a weekend and you called one of the companies you're invested in, yeah, hey, is Jill Biden there? Who? The CEO. I'm sorry. You must have us confused. The CEO is Cammy Harris. There's a switch. No, it's always been Cammy Harris. We talked about it. She was vice president of the company. I don't know what you're talking about, dude. I think you're stones. Like it's always been Cammy. She's been a solid leader for us. Wait, didn't she run our failed border initiative? What? No, she was different borders are. They're literally pretending the media in a coordinated effort, they're pretending she was not the borders are. So as you look at this as a guy who helps manage corporate boards, is any of it believable? No, I mean, the whole thing is ridiculous. The other part of it though that I would tell people to be and look, I get plenty wrong. So I'm not sitting here saying I'm an oracle or something like that. But, you know, over a year ago, I was saying on our show that I was like, listen, I don't care what anybody says. The guy's not going to be able to ticket come, you know, come November. You said that. Yeah. And I mean, I just, I just watching everybody, you know, and I'll get to Cammy Harris, but watching everybody be so shocked by his appearance and the way he performed in the debate, you're kind of looking at him going, what have you been paying attention to, you know? Yeah. And so, you know, I think they're scrambling and clearly they were scrambling, you know, I haven't dug into it enough to really comment on the whole coup thing. I don't really think it was so much a coup as it was all of a sudden that everybody realized and I don't know what they were looking at, but we see this dynamic happen all the time with human beings. Everybody realized that the king was wearing no clothes, right? And, you know, it was that it was really that simple. And then I think they went into fire drill mode and it's just really ironic. It's just really ironic to me. And I think it gets at one of the biggest things that is undercutting and endangering our country as we know it right now, which is, you know, the party that is out there to save democracy is trumpeting and championing somebody that wasn't voted for and didn't go through a primary process, right? And this is one of the biggest problems that you see historically with human beings in general, which is when it becomes a beat somebody at all costs, right? Beat Trump. Trump is the threat to democracy and you gin everybody up like that. You can justify anything if we're fighting evil, right? If we're fighting evil, we can justify anything, right? So, and that's one of the dangers to me of this path that we've gone down as a country and having the media, you know, all in on it and building up Trump, this guy that everybody's known literally since he was his late teens, early twenties, to be this monster that cuts against, you know, 40 years of public record and 40 years of reputation. Because now you've got a voting populace that in an effort to save democracy is burning it. Exactly, exactly. And the fact that the Democrat voter base hasn't said, oh, hey, wait, wait, do we get to vote again? That's so remarkable to me. They don't understand their own set if they don't understand the super delegate process. They don't understand that your votes as Democrats grassroots mathematically is eliminated by super delegates that they have been talking insurrection now for two and a half years. There's people in prison, solitary confinement. There's grandma, 72 years old, we're in the capital for 10 minutes, took a selfie, said a prayer. They're in prison because of an insurrection type thing that Democrats haven't stood up to this and said, no, what this indicates to me is the inertia of the evil machine is so strong that praise God for turning President Trump's head away or actually towards the shooter, saving his life. So we have one last chance to save America and if only the RNC wasn't having people pray to false gods from the stage, then I could feel fully happy. Did you see that? Yeah. No, I didn't see that. What did they say? Well, no, they had, they were praying to Mohammed. They're praying to the Sikh God because I don't know, I seem to remember in the Bible, God said something about love me with your entire heart, soul and minds and love your neighbors yourself and don't pray to false gods. But maybe I'm wrong. Let that part out. No, but, and this is why, you know, so much of this goes back to me to the, the whitewashing of God out of American culture and then also the complete breakdown of our educational system. And why do I say it relates to that? Because these people that are all caught up in this and voting for, they don't even really understand what democracy is. They don't understand that we don't even live in a democracy that we never have. They don't understand the basic tenets. They don't understand what got them somewhere, right? They don't understand any of this. They don't understand how totalitarian, how totalitarianism begins. They don't understand the genesis of authoritarianism. They don't understand that they are literally leading the way with porches down a path away from democracy and choice. And, you know, it's, it's, we were sitting down as a family the other night watching a video and I thought this pastor did an unbelievable job confronting the issue of transgenderism and doing it in a very Christ-like way of, we love everybody, but it doesn't mean that we're going to lie to you. It doesn't mean that we're going to sacrifice the truth. You're welcome at our church if you're a transgender person, but it doesn't mean we have it because giving you falsehoods, filling you full of lies isn't love, right? Sometimes love hurts and oftentimes the best love that is the most impactful and the best for us hurts the most, right? It's discipline. Like David said, I love your discipline, right? And everything about our culture is said, no, no, no, no, we're good on our own. We don't need the discipline. We just want the right, right? And, you know, we'll see where, you know, we'll see how that works out. I'm not waiting with bated breath because, you know, it's a, it's a pretty predetermined outcome and a pretty predetermined location of where we're headed. But no, but, but as far as them doing this, it doesn't surprise me at all. What I do think is pretty funny is how everybody now is how the media jumps on the train and everybody. Oh, come on. We're going, guys, there isn't a Fortune 500 company in this country that would hire her as a senior VP. I mean, then we want to go into, you know, go look at her track record in California. It's abysmal. She's never been a part of anything successful. She's never been elected to prominent office of any kind on a national stage, right? She didn't get elected device presidential. The other one that cracks me up too is now rolling out the racist tribes. Oh, everybody's referring to her as a DEI hire and you're like, well, Joe Biden referred to her as a DEI hire. Right. He said, he had to be a black female. Yeah. Right. Because of DEI. Hey, and this is where, and this is where this is where the breakdown of removing God properly taught, in my opinion, religion and the breakdown of the educational system really comes into play. And I'll talk with a buddy about mine this the other day. Why is it that so few people are so willing to lie and accept lies to further their cause without ever taking apart this? This where is the intellectual curiosity that would require because it would do this to me where you'd sit back and you'd go, you know, if I got a cheat and lie to further my cause, maybe I'm waving the wrong flag. Right. This is the wrong cause. And I would just, I would present it this way to people who doubt this DEI thing. And I think this is a great way to talk to friends about the attempted assassination President Trump video evidence shows that those two women were incapable of defending the President of the United States, fumbling with their guns, can't take them out of the holster, can't put them into the holster, cowering, yelling, what are we doing here? Whereas the well-trained, tall, robust male agents were all over the president doing what they were to do. Here's the scenario. Here's the playground thing. We're picking people for a sports team. We're playing football today, tackle football, and we're all going to line up, and we're going to pick one from this team and one from next. Here's what's going to go. You're going to have your big brutes and your fast runners, great catchers picked first. And after that, then it's just the leftovers. And maybe you're a great mathematician, maybe you're great at drama, maybe you're a great painter, maybe you're a great baseball player, but you can't play football. Present this to your friends. There are killers outside your home. They intend to come in and murder your family. Here are 10 people from whom you can choose to help you. Five of them are tall, muscular, strong, fast-looking, competent-looking men. Five of them are overweight, short, visibly scared women. You choose. Are you going to do the playground thing? Well, I'll take one from this side and one from the other. So you're going to use the discernment God gave you to say these may be sweet women. They may be brilliant women. They may be strong women mentally. They are not prepared to take my family out of this house and to kill the killers. DEI got one man killed, and it very nearly cost President Trump his life. That's the way I look at it. Brother, I always appreciate you having you on, man. Yeah, no, always good to be on, and thank you very much. One last thought on that one, Todd, is if anybody out there, look, we don't have to go coo or whatever, but 140 yards when they are 15, that's not a tough shot, not at all. My shootings become a joke, and I made it like 10 times standing up on a hill, not on a resting base, and my friends who took me shooting will tell you, Todd can't shoot with the pistol anymore. Don't ever let him try. You need some practice more. No, it's a tough one to justify, because I cannot imagine how that was an accident. No, no, it clearly wasn't, in my opinion. Appreciate you coming on, brother. I'm starting to get break up on the internet signal, and that's why I miss having you in the studio, also because I get to sit next to you. Zach Gabriel, I'm Chief Investment Officer, Bullwork Capital Management, KnowYourRiskRadio.com. It's KnowYourRiskRadio.com. This is the Todd Herman Show, please go be well, be strong, be kind, and remember that God's invented real things, human beings have perverted them, so choose the real things of God beginning with the solid rock, the foundation, the Word of God. [music] [music]