The Todd Herman Show
Is Japan Going To Dump US Bonds_ And, The Federal Reserve Used to Be WHAT? - Zach Abraham Joins Us Ep-1757
Our friend Zach Abraham, chief investor for Bulwark Capital Management, came by. We chatted about the political circumstances in our nation and he had a question for me in relation to polling. I likewise had a question for Zach in regard to this really slimy debt swapping deal that we do with Japan and that Japan may be lining up to dump a bunch of US bonds. And Zach reminded me about something about the Federal Reserve. Remember, there was a time when the Federal Reserve had a kind of mission, they were the lender of last resort.
What does God’s Word say?
Romans 8:28 28 And we know that in all things God works for the good of those who love him, who[a] have been called according to his purpose.
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- Duration:
- 48m
- Broadcast on:
- 02 Aug 2024
- Audio Format:
- mp3
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We'll also address the switchover to Cami. It's always been Cami. There was this thing that supposedly there was a guy named Joe Biden was never heard of a Joe Biden. That never happened. It's always been the lady who wasn't the borders are. What's the effect in the economy of that? And Zach had some questions for me about the politics, about the elections. We'll do this with the help of Bullwork Capital Management, knowyouriskradio.com, and much more importantly, with God Almighty. 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. [MUSIC PLAYING] Today is a day the Lord has made in these at the time, so which God has decided we should live. Gosh, I forgot my wife's counsel shirt. No, actually, I didn't. I didn't want to wear my wife's counsel shirt, because it's another day with my seal fit backpack. Didn't want to destroy my wife's counsel shirt, so I'll destroy one of my favorite rogue fitness shirts. Zach Cabraham joins us, chief investment officer, Bullwork Capital Management. Zach, welcome back to the program. Good to have you. For those on video, in fact, we've got to make-- we've got to get some screenshots of this. Zach, in a glorious, glorious little 5 o'clock shadow thing, are you willing to share with the people how that all happened? Yeah, no, gladly, because I'm not a primper, right? Like, I'm not a guy that really tries out different things and stuff, my wife, when I have a wardrobe style shift, it's always precipitated by the wife. Yeah. But I came home from the free mountains of Idaho. High mountains of free America. High mountains of free America. And I did what I-- because a lot of times, I'll grow a vacation beard, just because, hey, I'm taking time off, you know? Why shave? Well, when you're in the high mountains of free America, there's something about a beard that kind of amps up the patriotic feeling. Agreed. You know, it's like, you know, you're out there rubbing gristle against the pine trees. And, you know, it feels like it's an extra layer of armor against potential bears and wool greens and such. Right, there's all these things. So I get home, and I'm going back into business mode. And it was the day we got home, and I went upstairs and did a couple other things, then I shaved. And I came back downstairs, and in unison, my wife and daughter looked at me and go, what did you do that for? You look so much better with a beard. [LAUGHTER] I didn't have a comeback, right? Because it's your wife and your daughter telling you that. And I said, all right, well, we'll go back to the beard. So here we are. I love it. I was in a friend's house when he had decided to shave his beard that he'd had since his little boy was a baby. His little boy was about seven years old, and he had a big beard. I'm talking a bushy beard. And he came down from shaving and walked in, and his wife says, I love it. It reminds me when you're young, and all of a sudden, I look over and said, a boy is a little boy. I was looking upstairs, and he goes, [SCREAMING] He screamed. I know that just pegged the meters. And I was like, you know what? That just did everybody listen. He screamed, ran out of the room, crying. And his dad came down to try to comfort him. And the boy was like, no, get out. Get out. He was so traumatized. He'd never seen his father's face. That is funny. Not a single time in person. So I'm glad your wife and daughter saw the light on that. [LAUGHS] Well, yeah. And then, at least for me, especially with the wife, if the wife looks at you unequivocally and says, you look better with a beard, you don't have a choice at that point. Well, don't say that, because my wife wants me to grow a full bushy beard back, and I'm actually liking me in the fresh face. Oh, well, yeah, but you can use the seal thing coming up as the excuse. Well, that was the precipice, that's why I did it. Because everybody said, like, one thing, you're going to be eating MREs with caked mud all over your face, at least get rid of your beard. Trust us on this, grow up, you know, when you get back. Which was the genesis of the tanning, too. Because people said, you're going to get sunburns. You want to be sunburned, because you're not going to be smearing this stuff on yourself. You can wear sunscreen when you get there, but they're not going to give you a bunch of this. Then, all of a sudden, I notice that people look better tan. It is true. It is true. I've never cared about how I look. What's up? Yeah. Remarkably so. And I'm not a tanner. But I just know that, I mean, yeah. I can't believe I'm a guy who lays in my backyard. And with the sun-- or now walks my dog with my shirt off. And I put a shirt on when I hear a car coming. I mean, I don't want people saying, who's the weird looking old dude walking around shirt off? Because I ain't a guy who needs-- nobody needs to see me with the shirt off. It's never gotten to that point. Nobody needs to see anybody like that. We never get to see the guys run through the neighborhood with the shirt off. I'm like, come on, man. You can wear a cut off shirt. Everybody knows that you're in good shape. Come on. What are we doing here? A guy-- a neighbor did catch me because I didn't know he was in his front yard. He goes, shirt off, huh? OK. I'm doing this thing in September. And I tried to give him the expo. He didn't buy it for a second. Like you just-- No. No. But at least-- and someone said to me once, yeah. But if you got down to like 8% body fat and put on like 20 pounds of muscle-- no. I never want to be that guy. I never want to be the guy at the gym taking the shirt off. I don't care. Like-- OK. So now we've been-- We have a term for guys like that. It's not suitable to say on this. But if I've got any college buddies listening, they know exactly what term I'm talking about. I just don't think guys like that. And you don't want to be called that. See, I have friends who occasionally take their shirt off. And it's to cool down. But the ladies don't get to do it. So to me, it's equity. That's what it is. It's equity. Me and Cammy on the equity front. You wanted to talk to me about something political. I wanted to talk to you about this Japanese debt swap. So we'll roll into the content portion of the program, now that we've had the bro session, the mini bro session. But we'll go back to the bro session. Before we do that, let me tell you. This thing is aging and not well. This is not on your side. If you've not taken the free offer for magnesium breakthrough yet, time is not on your side. Second note now saying, please tell people the offer's coming to an end. You know I use magnesium breakthrough to help me get to sleep and stay asleep. In addition to that, it helps with digestion and mood. It helps regulate the stress hormone cortisol. And every time I really think about it, if I'm consciously doing it, it's such a ritual for me now. I don't consciously think of it. But if I consciously do it, I am taking magnesium breakthrough and I eat it, swallow it. That feeling sometimes overwhelms me. I can feel the warmth building up in me and it just invites sleep. It's not a sleeping pill. You actually get proper ram and deep sleep and light sleep. This is available now for free, but don't Google it. You can't find it there. It's not even on the Baptamisters website. People are trying to get it at Amazon. Someone said a note to Baptamizers, I can't find it. There's only one website, but the offer's going away. So act now. It's megbreakthrough.com/toddfree. That easy. Megbreakthrough.com/toddfree. You get a free bottle of magnesium breakthrough to try. It's that easy. No catches. My request is just simply let me know how it worked for you. Megbreakthrough.com/toddfree. So Zach, you had questions about the election, things you wanted to ask me politically. - Oh yeah. The biggest thing I was just getting your handicap on what's going on here because, you know, if you believe some of these, and look, after a couple of the last two elections, I don't really believe the polls, regardless, on either side. And it's not 'cause I think they're doctored. I just think that the way that we do things has changed so much, and, you know, so much of politics has become stigmatized, and I think that people have all kinds of incentives not to give the answer. You know, anyway, I just think there's all kinds of reasons why there's so much noise and polls. But, I mean, we've all seen, I mean, we gotta call a name to it because it's like the immaculate conception, right? It's like the immaculate makeover of Kamala Harris' space in two weeks. I just find it really amusing, right? This is, I mean, objectively looking at it, this is the least qualified, least popular person in her own party to ever make a major ticket, right? The least amount of accomplishments, the only real accomplishments she got was being made or reaching the spot of prosecutor. You and I both know there were some extracurriculars that helped her get that assignment. So, but watching how she just instantaneously becomes the hero of democracy, and I'm supposed to believe that she's leading Trump now in the polls, I just, again, it's probably a dumb question 'cause I don't put any weight in the polls. But where do you, 'cause I know you're, I mean, I know you're on this all the time, where do you think we actually are? I just can't believe that middle America and the average American out there is anywhere near as sycophantically in love with Kamala Harris is all the media seems to be. - No, there's not a chance. And just look at it this way. Camby Harris was able to achieve 1% support in the Democrat primaries, coming from the state of California as a senator, being pushed by the Mockingbird media. They didn't call her out on, wait, you're black now? Wait, you're not Indian anymore? No, no, I've always been. The laugh is still the same, go back to this. CNN did an entire segment about six months ago about Kamala Harris being a dragon in the ticket. They spent about six minutes talking about how her laugh is annoying. People find her disingenuous. The border catastrophe is an utter failure for her. She was identified as the borders are. She's a dragon, the ticket, and has been for years. And then they came and said, but she can't be replaced. She is a black woman and cannot be replaced. That's six months ago. Does anyone actually believe that in the last three weeks, there has built up this enormous, enormous enthusiasm for Kamala Harris? I go look at the real clear politics polls and I look at the poll of polls. There are states where Trump is up 50 per, you know, where Trump is up and Kam is up, but on a true intention to vote. Here's how they do it early on. They poll everybody. And here's how the Democrat pollsters do it. Who do we need to poll to show the result we want? Likely voters, registered voters, adults, people who can breathe, people who are not yet dead. And that's the way that they're pulling these numbers in to try to massage these numbers. The pollsters are as incentivized as anybody to make it seem close. The people in the mockingbird media wanted to make it seem close. There's an attempt to drive down the enthusiasm of Trump supporters and then just look at this. Look at the in-person draw. And I know this is anecdotal, but if there is all this massive enthusiasm for Kamala Harris, Donnie Lemon the other day was making a point that 130,000 people on a Zoom call, it's a record breaking Zoom call. Do you know how easy it is to fake up Zoom calls? Kamala has got faked, she got caught faking it. We ran on this program a guy who took video of one of her Zoom town hall meetings and they were replicating faces. So they were using digital trickery that if you weren't paying attention, wait a minute, this lady's on the screen five times or four times. It was, you know, integrals of four or two. They did that and you look at the in-person draw. If truly people believe Kamala Harris is the savior of what they call democracy, is she truly gonna have a problem filling up a classroom of people? And this is the reality or this, she went on stage with a, after a song played by Megan the Stallion. So do you know who Megan the Stallion is? - Yeah. - Okay, do you know the song I'm gonna talk about? - I don't know what song that is. - Okay, I'm going to, I'm not like a card carrying Megan the Stallion fan club number. - Okay, I'm just gonna tell you, and if you are listening and are watching with kids, please take a break for about 60 seconds and my apologies to all women everywhere, including Nana. And if you wanna leave the room for this, you can leave the room for 60 seconds, Nana. No, okay, you're fine. She's like, she's the young person. I know all about Megan the Stallion Todd, you're not gonna tell me anything, I don't know. Zach, this song is about her wet pussy. - Okay, yeah. - And how she needs a mop. - Yes. - To fool her around. - Yeah. - Okay, now, if I were to say that about a female's body, I would be denigrating her body, I would be diminishing her as a human being, I would diminish her as a child of God. That's the song that Cammy Harris gets on stage after. - No way. - Megan the Stallion performs that. Cammy Harris walks on stage, this is after she's been on RuPaul's show, the pandering, the degree of pandering they're putting out. And then this, now this desperate attempt to make it seem like she's not the borders are, do you do that if she's leading in the polls? - Do you think so? - Or this, the big coordinated effort between the Mockingbird media will play this probably this week sometime. Or maybe we played it last week, I always forget, but we had this thing where JD Vance is weird, that's their defense, this is the big play. Well, JD Vance is weird, something Cammy said, I don't know, he's just, he's weird. (laughing) And then all of a sudden, in the Mockingbird media saying, what can we make of the weird factor with JD Vance? - Well, it has been known for a long time that JD Vance is very weird. Well, he's just weird. There's 30 instances all of a sudden of JD Vance is weird. Coming from a party who had a fake woman wagging fake breaths in cameras, who had a congressional staffer have sex with his boyfriend or someone he met in a bar on camera in the congressional, in the-- - In the gym rooms. - Yeah, yeah. - You did share room, yeah. - You did share room, yeah. You did share room. A party that had Cammy Harris shaking hands with a six foot four looking bearded dude in a dress who's acting all feminine, and this is all normal, and JD Vance is weird. Does that sound like anybody who thinks they're leading in the polls? - Well, no, but what I would wish would happen is for middle America to wake up and go, "Hey, they've just given you some insight." Okay, and they've given you insight because I think they're being honest. I think they do think JD Vance is weird, and I think they think he's weird because he came from a modest blue collar background from a very poor area, and that's what these people actually think of real hard, scrabble Americans that have traditional values. They do, they think you're weird. They think you're the odd man out. They think you're the, you know what I mean? And it's why it kills me when I see these quote unquote working class folks or the middle America, you know, salt to the earth people thinking their liberals. And I'm like, they disdain you. They disdain you, right? Anything traditional Americana, work your way up. I mean, JD Vance, how do you not respect, look, maybe if you disagree with his politics, how do you disrespect, the guy's the American dream. He's the walking embodiment of the American dream, meaning no matter what name you're born into, no matter what scrabble and dribble you grow up in, no matter how disastrous the background, you can be on the presidential ticket. You can be accomplished. You can have a great family. You can, you know, you can have a movie and a book and you know, like that's weird. I mean, Tom Jefferson was weird. - And they're saying he's weird because he, there was a statement, he only wants white children in America. Have you looked at his adopted kids? Because they ain't white, right? When he married, he married an Indian woman. - Right, right. And Cammy used to be Indian and then she had that operation and then they put black stuff in her and now she's black and Megan the Stallion did something to her and now she's extra, extra black. And that's what, if I were a black American, I'd be looking at this going, so that's how you be black. - Right. - You have Megan the Stallion. You want to be president of the United States, you have Megan the Stallion. And I've heard liberals come and say, yeah, but Trump has Kid Rock. Kid Rock's big problem is what exactly? I mean, so he's had some songs about drug use and guess what? He says it's not that great. He says the drug use is not that great. - Yeah. - Yeah. - The comparison drives me nuts. - Well, I mean, yeah, we wouldn't go to drug use. Okay, then don't ever have Bruce Springsteen play for you. You know what I mean? I mean, come on, are you kidding me? Every rocker from that thing has had something but it's pretty different because they're not walking around singing wop, right? - Right, okay. - And I don't mean that as a racial slur. - Is that song? - Wop, yeah, okay. So now to prove that, that's been fact checked. It's automatically fact checked. What? - It's like that one. - Oh no, I have the video. Chris, yeah, Chris Bray has it. Chris Bray has it. So we'll, yeah, now it is fact checking me. No, Chris Bray has the video of Tammy walking on stage to that song. We'll continue with Zach Abraham. It was Zach who walked in, reaffirmed this, please. When you walked into our studio, it smelled like what? - It's, well, it smelled like freedom. (laughing) - You said it's not like a-- - No, it felt really good. - It's like a thunderstorm. - It's like a thunderstorm. - Right, so Zach affirms this again. The deal has changed. This is now by one get one for Eden Piers Oxyleaf II thunderstorm device. The deal has changed, the economy's changed. This is the one that you need to get. If you have any sort of small business where smell is a concern and that might be that you're located in a bad area, maybe you're a restaurant next door to an auto shop maybe you are a hair cutting place and the chemicals can be overwhelming. If you do hair dies, maybe you're a gym and you've got a tanning room. Tanning rooms don't always smell great. Maybe you're a gym and you have a locker room. 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Zach, this guy, who's the biggest Zach Abraham obsessed E in the world. And he's a dear friend of mine and he's a good man and a solid man. He wanted to ask you about this Japanese default or debt swap that we do. It's this game that we play and apparently Japan is on the verge of a fire sale of hundreds of billions of dollars of US debt to plug gaping holes in their teetering banks and pension funds. This comes from Peter St. Orange. He's a PhD. So obviously this has to be true because he knows what he's talking about because he's a good PhD. What is this debt swap thing that we do with Japan? And have you heard about this Japanese fire sale on our bonds? - I haven't heard about it. It wouldn't, meaning I may have, I just probably didn't pay a lot of attention to it because this is gonna be another, I was gonna say that this is gonna be sound like we're going into a really big discussion and it won't be, okay? - Oh shoot, so we're gonna have to stretch this. - Yeah. (laughing) I'm sure that's not gonna be a issue for you and I. But here's the deal. If it was gonna trash treasury markets, if it was, if it was, if they were selling enough and they were planning to sell it in a fashion that would hurt treasury markets, they absolutely would not do that unless they coordinated with the treasury and here's how this would go down, okay? The treasury and the Fed combined would probably be able to soak up that liquidity without even having the reissue QE, okay? They would line up all the member banks, they would do schedule sales on routine times, they would all know what those times were and they would soak up the debt, it'd be that simple. It's not, it's just, is it fair? No, is it disgusting? Yes, is it just fabrication? Yes, but it's the way it works. Japan is not, now China may dump them on you to create a little disorder, but you know, and it sounds crazy to say this, but I think at present, China only owns $900 billion to a trillion dollars worth of debt. That's a better thing. No, Fed had soaked that up, if the Fed had to do that and it made treasury markets disorder, Lee, the Fed could soak that up by lunch, you know? Again, everybody needs to realize, and it's something that I have to remind myself to because the fundamental investor inside of me recoils at this on a regular basis. If we are facing a problem that involves solvency and that can be fixed with money, we are not facing a real problem. The problems will be when we are facing issues that printing money cannot fix, right? Any bank, no matter how insolven it is, not a problem, you inject enough money to the bottom line and it's solvent. It's just, it's that simple, right? You know, so if we want to get into a conversation about is it real money or all these other things, you know, that's an interesting conversation, but there is not going to be one of these things, including Japan unloading debt or China unloading debt that's going to royal treasury markets and make the market tip over, it's just not going to happen. And, you know, look what the Fed did in a matter of, you know, 90 days in response to COVID, right? You don't think they can soak up a trillion or two from a, from a, and like I said-- - No, that's the specific, I'm sorry, I just have to do one thing. They said prior to them deciding to use COVID, it was Black Rock and others who said, you need to grit a whole bunch of fake money about $720 billion worth. And the Fed said, okay, and here's a chance to do it. And then the treasurer said, okay, we'll use it and give it back to you. That's what you meant, right? - Yeah, yeah, yeah, basically. Yeah, so, so, but my whole point is they're just, there is first of all, a company like, a country like Japan, especially when you look at what China's doing, Japan is gonna do nothing to irritate us. Okay, nothing. - Japan. - Yeah, Japan would do nothing to irritate us. Second of all, even if they tried, like I said, and they have no incentive to try because remember, if they start dumping treasuries into the market and the market sees that, Japan's bidding against themselves, right? They're not gonna, you don't just push a button and sell a trillion or $2 trillion of treasuries at a market bid, right? You price that out and you feed it out over time 'cause you don't wanna blow up the market, 'cause you're not gonna, if I wanna go sell something, I'm not gonna go do it in such a way where I drive the price down on myself by 12 to 15%, right? Or 20%. So, it's disgusting because it is yet another example of how outside of reality the financial system really is. But as far as it being a lighting of a fuse or a tipping point, it's not and it won't be. - I just heard this conversation, it's talking about the made up financial system. I heard this conversation was on Fox News and it was a Democrat who's a surrogate for Kamie Harris and they were talking about gas prices and how gas prices have come down. And I'm forgetting the name of the lady in Fox News. She does a good job, it's pretty solid on the economy, kind of it's a conservative ask. And she said, but wait a minute, you guys have driven, you've drained the strategic oil reserves. You've utterly drained the strategic oil reserves. Why did you do that? And you know what the Democrat said? Well, 'cause gas prices were high and he's sitting here saying, but we've done more production of gas and oil and more exporting of gas and oil in this country than in any time in history. Under the Biden administration, we produce more gas, we have exported more gas than in any time in history and then she comes back and she says, but wait a minute, you just said, we drained the strategic oil reserves 'cause gas was high, gas prices were high. How did those two things go together? That we're all of a sudden doing all, so what is the truth about that and is there, is there any strategic oil reserve anymore as you guys monitor energy or is it that bad? 'Cause at a time, we were being told like three days of strategic reserves. Yeah, no, I mean, and it still is in that. I mean, I think that they've made some last time we checked, I'd have to get to chase for the exact numbers here. But last time we checked, they were sitting, they had burned down something like 70, I wanna say like 65, 70% of the strategic reserve. So, and the, them saying that they have produced more oil and gas than any other administration, that is patently false. They have returned rates too close to the highs in terms of daily production. They have, well, they have not done anything. So, we have now, we have returned to close to the highs in terms of daily production. You know, barrels of oil being produced or annual oils, barrels of oil being produced. But, you know, this is a classic case of, you know, the president trying to take credit for things that he had absolutely nothing to do with. Well, Joe Biden said something to do with ice cream and a bunch of drugs in the ice cream. Yeah, well, and sniffing, he's great. Right, he's a super smeller, right? Yeah, right. So, yeah, those numbers, but it literally has been despite their actions, right? So, they have done nothing, I think that some of the things that they have been blamed for in terms of impeding oil production, I think some of those things have been overstated. But what is not overstated is that virtually nothing they have done has made it easier to produce oil. If anything on balance, it's made it harder with oil and that gas. And so, you know, that's all, it's just, that's one of those frustrating political points where you sit there and everybody buys it as fact and you go, well, you know, it's like saying Joe Biden created more jobs than any other president in history. And you're just like, hey, well, if we want to run this scenario again, we can have every president quote unquote, create as many jobs. It's as simple as turning off the economy right before you take office and turning it right back on after you take your place. Right. I mean, it's just a joke. I put more water in that bathtub than any, any bathtub user in recent history. Yeah, you did a phenomenal job. (laughing) And it was a highly, highly difficult. I have to run this by you in a second. It's someone, one of your very, very favorite financial people, Janet Yellen said something. And I think it's encouraging about the economy. I'll run that by you in a second. Zach Abraham, chief investment officer, board capital management. You guys know that I've developed a pretty big affection for the native path company. I'm using native path hydrate. In fact, in this cup, and when it's not bone frog coffee, these days, it's native path hydrate. I do that. I want you to understand because hydration is not a thing you do a day in advance, a big exercise. In fact, for my seal fit journey, September 20th through the 25th, one of the things they stress is do not think you're gonna properly hydrate your body even three or four or five days ahead of time. You need to be on this a month ahead of time. There's a lot of ways to hydrate your tissue. We can talk about that. The other thing I'm doing is I'm all over native path collagen because I know something about seal fits, which was very little. But I know this, I am going to get hurt. It is unavoidable when you exercise that long at that level to not be hurt. I'm going to get hurt. My goal is to not be injured and to thrive and to have fun. As weird as that sounds in a mini version of Hell Week. I want to have fun. I want to thrive. I want to contribute to a team. I want to be able to provide support to the team. All the guys are gonna be younger and stronger than me, all of them, every single one of my cohorts. And I want to be a contributor. I want at the end of this, those guys to go, you know what, I'm glad that guy was on our team. And it's probably not gonna be physical. I can't match their physical abilities. Maybe it's leadership, maybe it's humility. I don't know. I hope God will turn me on to that. Here's the thing I am doing. Is I am prepping my body for the beating it's going to take for that long of time. This little mini version of Hell Week by using native path collagen. So this can help reduce the wear and tear on your joints because it gets inside your body and makes your bones less breakable, increases bone mineral density, and it accelerates tissue recovery. It gets into your body's cartilage and can help preserve that. My friend Ben turned me on to this that having collagen before exercise can make that possible. And if you are someone who is really, really interested in aesthetics, native path collagen with type one and three collagen, which is found in 90% of your body. It also helps with hair thickness, helps reduce wrinkles and strengthens damaged nails. Those are all side effects for me. I'm much more interested in preserving my body and knowing I'm going to get hurt, but I don't want to be injured. You probably work harder than I do on a daily basis. So right now go get that native path is getnativepath.com/tod. You can stock up a native path collagen for an incredible savings, up to 45% off plus free shipping. Every order comes with a 365 day money back guarantee. So you can try at risk free today. That website to get is getnativepath.com/tod for up to 45% off and free shipping. Getnativepath.com/tod. Janet Yellen, one of your very favorite financial people is actually gets everything right. She was giving a speech about transitioning to a lower carbon global economy. And by that she means carbon dioxide and she announced a happy, happy number. This will only cost the American people $3 trillion a year. If A, do you believe that? And B, what if you were Janet Yellen, would you do with 3 trillion versus trying to reduce our carbon dioxide? 3 trillion a year to transition the economy to carbon dioxide less environment. - Well, the first thing I would do is spend a little bit of that money on some actual science and research so we could actually know what in the world we were doing. Okay. - That's a good call. - Second of all, you're the Federal Reserve. You have absolutely no authority to do that whatsoever. Appropriating or allocating money. That is our money, not yours. You are supposed to be the regulator of the banks and the lender of last resort. You shouldn't even speak to climatologists. You're not a climatologist. You wouldn't know one if you tripped over one on your way into the equities building. It is, this is just to talk about a microcosm of what is wrong with our ruling and elite class, right? I wanna look at her and go, "You can't even properly forecast inflation on a quarter to quarter basis, but now you're gonna take over the weather. Are you kidding me?" (laughing) The fact that we even have to have these conversations, if we had an educated and informed enough electorate, we shouldn't even have to have the right saying that should be the, saying that should be the death now for whatever administration put her into place. The idea behind that and the power dynamics of that, like do you think any of the allocation of that three trillion will have anything to do with corporate nepotism of sorts? Will that go to friends of hers? I mean, just, the whole thing is just patently ridiculous. And all the models that we're adhering to would have us believe that Miami's currently under eight feet of water, and we can go off on the whole climate change and what nonsense the whole thing is. And well, not climate change, right? But it's constantly changing, and I don't find it to be a far-fetched idea that man has an impact on that. We live in the world. Everything has an impact. Squirrels have an impact. We all have impacts. Right, right. But I can prove this with my favorite example. I just don't wanna say it again. I just, I say it all the time. It's my favorite example, and it's about eating pets. See, I said it. If truly, look, here's the thing, if truly the world is drowning in carbon dioxide, then kill your pets and eat them. Yeah. Because your pets are useless eaters. They're not gonna sell this. Yeah, right, why are cows a target? But cats and dogs aren't. Right. I walk me through that. Right, right. Well, because the cats are cute. I think cows are cute. I think calves are very, very cute. You know, there's not-- You know, the black and white pots? I mean, come on. Look, I have trouble eating beef. I will tell you why. I eat it. Right now. I eat it. When I see a little baby calf that's born and he's happy to be a calf, he's running going, "I'm a calf, I'm a calf, I'm a calf." Look, he's chasing his mom around. He's suckling on her and he chases things and bucks his little, you know, feed up and his hooves. And I look at that happy little calf and then I think, "I'm gonna eat you." That's hard for me. I still eat beef and I'm fine with it. But my point on this is you could test anything. You can go to the climate charts. You can go to how they place their instruments and the holes of ships and they're gonna get hotter. They place them in parking lots surrounded by, you know, concrete jungles. We can do all of it. We can go to hide the decline. Just adds a simple question. Why are the climate zealots saying, "All the cows need to be destroyed. "You need to hole your pig herds. "They need to be destroyed. "You need to test every cow for the flu, "but keep your dogs and cats." Because it has nothing to do with climate, it has to do with access to food. - No, but you made me really hungry for veal. (laughing) - Now veal, I will not eat. I actually eat veal, I cannot eat veal. - I can't tell you the last time I did, but I'm not gonna turn it away. - Okay, see, I can't. Nope, nope, I have to be about to turn. - The damage has already been done though. Right, it's like, if you don't eat that veal chop, it's not like that little fella's gonna come back to life. - No, it's not the life thing. It's the, they're trapped in a cage and never gets to move. - I know. That is disgusting. - Right, and I'm all about dispatch the animal quickly, do it in the way that is as humane as possible. Right, do it that way, and do it the other ways. So with Janet Yellen saying this, about three trillion a year, you said something interesting. I think people have forgotten this. And I wanna focus us in a second because you said something interesting, I think people have forgot. Zach explained this in just a second. If you are like a hundred million Americans who have extra fat on your body, I have some potentially bad news. They're gonna take away your beef and they're gonna try to limit your foods. That's coming. They're going to try to legislate to what you eat. That's coming. You can't do much about that. I mean, we can vote and President Trump sees this coming if God forbid, or God willing, he makes it through the election fraud and is actually president. We'll stop this, Thomas Massey's all over this. But if you are one of those hundred million Americans who is obese and heavy, you probably have fatty liver. And you could complicate this all you want or you could make it very simple. Your liver gets surrounded by fat. It puts enormous pressure on it. It cannot properly filter your blood. Your blood becomes impure. You end up feeling sluggish and tired because your blood doesn't have the right amount of oxygen in it, for instance, it's impure. Over time, that can make your liver sick and you can end up with liver disease. You can end up with heart disease. Fortunately, there is liver health formula and this protects your liver with 11 clinically proven botanicals. I didn't say chemicals, botanicals that helps protect your liver, recharge it and it can even help you lose belly fat, which is what causes fatty liver. The folks who make this want you to know something, please do not think they want you to be on this for the rest of your life. They don't. In fact, this is a stopgap measure while you take care of the big problem, which is the belly fat. Here's what you can do to get a very, very special deal. By a 30 day supply of liver health formula, get a free bottle of blood sugar formula to keep your heart healthy, visit getliverhelp.com/todd. You'll also receive a free bonus gift for the order that's a 30 day supply of liver health formula plus a free bottle of blood sugar formula three, plus a free gift. Go to getliverhelp.com/todd that's getliverhelp.com/todd. Zach, you said something I had utterly forgotten. This is how socialization works and normalizing the abnormal. You said the Federal Reserve is supposed to be the lender of last resort. That's exactly right. - Yeah. - So, wait, when was the last time it was the lender of last resort? - I mean, technically speaking, 0809. But in my opinion, they went about it completely the wrong way and then they continued, in my opinion, making erroneous policy decisions they're after. And this is why I've said, for those who sit there and go abolish the Fed, like we gotta get rational people have to get back to making rational decisions, meaning just because the current FOMC is a complete joke and is way outside of their purview, does not mean we don't need a central bank. And I'll give you an example. If you don't have a lender of last resort in an international financial community, you could theoretically get a cabal of enough big companies to get together and crash your financial markets, right? And when things like that are going on, you can't destroy your own economy just because you don't want the existence of a central bank. There is a need for a central bank. And like I said, a classic example of this is to a degree, '08, '09 was an example of it, meaning the first actions they took. Even looking back on it, I don't so much as have a problem with the immediate actions they took in '08, '09. It was that in my opinion, and I think history bears this out and we'll continue to bear it out, in my opinion, the legislative and regulatory changes they made were exactly the opposite of what they should have done. Literally, it further entrenched their power. It was very self-serving action, right? They gave themselves greater purview and greater power. They didn't need to do that. What they should have done is reinstated something like Glass-Steagall, which kept, and in my opinion, they should have given banks the option and said, hey, if you want FDIC coverage and you want that protection, then you need to adhere to Glass-Steagall type regulations. If you don't, if you want to combine investment bank and an insurance company and a consumer bank, all in one, which is the legislation, the Glass-Steagall, and for that matter, Glass-Steagall was put in right after the Great Depression and we never had a real financial crisis after that. - Yeah, it was preventing those roll-ups, right? - Right, yeah, and then we repealed Glass-Steagall in '98 or '99, and then the biggest financial crisis since the Great Depression happens nine years later, shocker, right? So, but in terms of '08, '09 is a good example to use because what happened, there were other errors along the way, but what happened was basically they said that if you diversify low cows of these homelones enough, that we don't need to consider credit quality of these mortgages and the logic at the time was we've never had a country, even the Great Depression, we didn't have a country-wide real estate collapse. Certain sectors were hit, certain sectors weren't, and so, like only government could do, they'd sit at, well, government and Wall Street together, sit there and go, well then, if it can never happen across the country at the same time, then the only thing we have to do is geographically diversify them. Well, there's a big hole in their logic, meaning because you realized that, one of the reasons that you never had an '08, '09 before is because we never gave things good credit ratings based on diversification and geographical location, meaning right, everything was held to credit standards. So, you do something completely different and you expect the outcome to be the same, it's just, it's patently ridiculous on the face of it, right? But that being said, a lot of those mortgages, or a lot of those, and I'm just blanking right now, on what, the collateralized mortgage obligations that they used, right? 'Cause the banks were using those in alternative to cash because the rule at the time was, if you had AAA-rated debt on the balance sheet, you didn't have to report it. You could just record it as cash on the balance sheet 'cause this is good as money, right? Which is a ridiculous rule in and of itself, right? But a lot of those mortgages that were driving these banks down, when the whole thing started, that mortgage market went no bid. And it went no bid because nobody knew what they were worth. Nobody, everybody knew they weren't worth nothing, but they didn't know what they were worth and they already owned too much, so all of a sudden it became something you couldn't touch. Well, the worst of those collateralized mortgage debts or obligations that those banks held on their balance sheets maybe were worth 80 cents on the dollar, okay? But when the market goes no bid, you're crashing all these banks because now all of a sudden the very next day, the banks have to report that as a total loss. They got to mark them to market, right? In a situation like that, that is perfect for a central bank to step in because they are buying assets that do have value and they're buying them at a steep discount which they'll be able to sell once the market settles down and we figure out what the internal value of it is, right? And that action prevents another great depression from taking place. So in that way, the central bank is intervening, which I'm not a huge fan of, but they're intervening in a way that they're not, all they're doing is taking that off the market. It's sort of like what we did in the '80s with the security trust, I'm forgetting the name, but during those savings alone crisis, the SNL crisis, right? We had the savings and trust savings company, I believe it was referred to, right? It bought up those assets because they were killing the banks, bought up the assets that did have value, but were getting marked way down because of a temporary issue and then they resell those back into the market to later, but that is the role of a central bank and that's why they should be there just because some idiots on Wall Street change credit standards. It shouldn't nuke our entire economy, right? The problem I have is what they did after that. So yes, we still need the role of a lender of last resort, but as you could tell by the genesis of this conversation, that's not what they are anymore. - No, now they're not even the lender of last resort, so they're a lender of first resort, but more than that, they're market makers. You have Janet Yellen, this is a market-making statement. We need three trillion a year to fight so-called climate change. And yeah, the climate change is, but it's not the climate catastrophe they're pitching. They're market makers, market placers, they're stock pumpers, they're industry segment pumpers. They're anything but the lender of last resort. They're now driving this, and that is a huge, huge poison. - Yeah. - Always good to have you on, my friend, and to get wise counsel from you, thank you for taking the time, and let's make sure we get a good, big, huge picture of Zach in the five o'clock shadow. I think, I think that-- - I think it's like more like a nine o'clock. - Okay. - It takes a few days to, this takes a few days to it. People voted in my beard, they get to vote on yours, Ferris Ferris. Appreciate you coming on, my brother. - Yeah, I'd love to hear what the people talk about. - Okay, that's it. We're putting up a picture. You get to vote Zach with the beard without the beard that'll be in the show. No, it's right, Nana. Zach with the beard without the beard. This is the Todd Herman Show. Please go be well, be strong, be kind, please make every effort to walk in the light of Christ. (upbeat music) (upbeat music) - Is your vehicle stopping like it should? Does it squeal or grind when you break? Don't miss out on summer break deals at O'Reilly Auto Parts. (upbeat music) Auto parts. [MUSIC]