The Todd Herman Show
Zach Abraham- How AI May Be About To Eat Many People’s Retirement Funds Ep-1819
So Kamala Harris and her team, the people who run her, the people who boss her around, they've got some tax increases and some of this is starting to take form. They want the Trump tax cuts to expire leading to 62% of houses seeing a tax hike. Plus, how about a billion dollar secret migrant spending and what is the most important stock in the entire world?
What does God’s Word say?
1 Corinthians 1:26-31
26 Brothers and sisters, think of what you were when you were called. Not many of you were wise by human standards; not many were influential; not many were of noble birth. 27 But God chose the foolish things of the world to shame the wise; God chose the weak things of the world to shame the strong. 28 God chose the lowly things of this world and the despised things—and the things that are not—to nullify the things that are, 29 so that no one may boast before him. 30 It is because of him that you are in Christ Jesus, who has become for us wisdom from God—that is, our righteousness, holiness and redemption. 31 Therefore, as it is written: “Let the one who boasts boast in the Lord.”[d]
Episode Links:
- Massachusetts GOP demands information on state's $1 billion in 'secret' migrant spending: 'Veil of secrecy'; Republicans allege state's Democrat supermajority has led to lack of transparency
- Nvidia has become world’s ‘most important stock,’ adding pressure to upcoming earnings report
- If you don't own Nvidia stock, you are missing a revolution, tech investor says
- Telegram Founder’s Arrest Signals Dangerous Times for Online Free Speech
- AI Vs Human Leadership: Debate Over Plan To Govern Cheyenne Heats Up
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EdenPURE
- Duration:
- 46m
- Broadcast on:
- 30 Aug 2024
- Audio Format:
- mp3
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Maintenance coordination, you got it. Go to Rennerswearhouse.com for a free rental analysis to find out how much your home can rent for. Or call 303-974-9444. Because from now on, the only thing you need on your to-do list is to call Rennerswearhouse. So Kamala Harris and her team, the people who run her, the people who boss her around, they've got some tax increases. And some of this is starting to take form. It's about-- oh, let me count this up. Number zero is $5 trillion in new taxes. Once the Trump tax cuts to expire leading to 62% of houses seeing a tax hike, that's for the little people. She accepted the nomination that never occurred. There was no nomination, but she accepted it on behalf of the people. Plus, how about a billion dollar secret migrant spending? And what is the most important stock in the entire world? Zach Cabraham joins us. Chief investment officer Boer, capital management. Do this with the help of makebreakthrough.com/toddfree. Last chance, at a free bottle, and, of course, with the great help of 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 the day the Lord has made in these are the times, so which God has decided we should live. Zach Cabraham, my friends, my brother, chief investment officer, Boer, capital management, joins us. So Zach, that nomination process, painstaking, exacting, lots of debate from the floor. For a while there, it looked a lot like Kamala Harris was going to pull that out and just run away with, oh, that's right. There was actually no nomination process. If you did that on a board of directors, true story. A true question, real question. If you did that in election for a board of director position on a public company, what would happen to you? Yeah, I haven't thought about it in those terms. I don't think you can. You can't just see a solo person. There has to be a vote. No. Yeah, every single-- every single board's going to have their rules and their standardized practices, and they can't deviate from that unless there's extraordinary circumstances. But yeah, I mean, and it's pretty wild to see, right? You're just going to plug somebody in there for the presidential, for the White House, for the Oval Office. And it's not even going to face the same scrutiny as a board position. I mean, it's pretty wild. I find this crazy about Republicans is Republicans are so good at opening their mouths and letting the left insert words. And the word that's been inserted is nominee. She's not the stinking nominee. She's the selectee. She's the placement. She's the anointed. She's the queen. She's the power grabber. She sees power. She's the coup et. But yeah, they don't-- Yeah, they don't-- they don't accept the talking points from the Democrats. They accept them from the media, right? Like the only way they can get-- the only way that the Democrats get away from-- the only way the left gets away with this is because the media's covering their tracks constantly. I mean, they just take every-- you know, the presidential nominee, you know, the Democratic nominee over and over and over. You know, Trump's a racist. She's the nominee in the Savior of Democracy. And if we say it enough, times it's so. And Republicans take it and they regurgitate it. It's like using the word transgender. Oh, OK, that's the word. That's what we'll use. Great. You have just legitimized the idea that people are born in the wrong body, which is an illegitimate thought. What did you think of R.K. Jr. in that move? I think it further confirmed what I thought about the guy. And what I thought about the guy was he really made me reminisce and have fond memories of days of yorn, of the debates that we used to have when I was a kid, right? Meaning, look, he's still well to the left of me. But he cares about this country. He believes in free markets. He believes in what makes us uniquely American. And he believes staunchly in the Constitution and the Bill of Rights. And it's funny, you and I have had this conversation before. But the extremists of the left have made some really strange bedfellows. And for instance, if I woke up tomorrow, now is it the ticket that I would construct? No. But if I woke up tomorrow and you told me that R.F.K. and Tulsi Gabbard were the new president and vice president, I would be pleased that I would sleep well at night. Are there things I disagree-- yes. Again, I think all too often in politics, we make-- well, I think it cuts both ways. I think sometimes we put up with too much from people just because they're on our side. Then the other-- then the other-- the flip side of that coin is I think we run people through too perfect of a funnel, right? Like meaning, guys, we've got to keep in mind we're not picking the pastor of a church. We're picking the leader of a giant organization, right? Does it mean that we shouldn't apply some of the same metrics to somebody that we apply to the pastor of a church? No, I think that there's some very needed skills and abilities and morality that would be applicable in both positions. But at the same time, I'm not going to use the same filter for those people. And it's just funny. My standard has dropped a lot lower where you and I might disagree on some pretty big issues. But if you're a defender of free speech in the Bill of Rights and you believe in free markets, then I'm like, hey, buddy, we can hang out any time, right? The bar's done so low. And I just think-- the other thing I think it's unbelievable is if you would have told me that there was going to be a day where Bobby Kennedy's son, most prominent son, came out and endorsed a Republican candidate for president. And he would be painted as a whack job and a pariah in public. I would have told you, like, come on even the Simpsons can't write something that crazy, right? And yet here we are. RFK is now stumping for the guy. And he's still a bigot, a homophobic, racist, and extremist. You just can't make it up. No, and the thing is this, the more I looked into-- I can't remember what it was. It caused me-- oh, no. I remember it was the CIA guy who went on Tucker's show and said, oh, yeah, yeah, we killed Kennedy. And I went and read this book called JFK and the Unthinkable. And all of the new documents on this about JFK's war with the intelligence services, his refusal to take us into war, his refusal to send troops to Vietnam, his refusal to nuke Russia. They wanted him to nuke Russia in the creation of this project called Project Northwoods, which called for false flag attacks against US troops on our soil. And in fact, I think you've read it correctly. It's the taking out of Kennedy. Trump did the same thing. No, I don't want to go to war. No, I do not want to go get into the same with Russia. Why is Russia our enemy? Like, someone tell me why there are enemy. There's this comparison. So in a way, it's also-- it kind of feels like God taking two people who are kind of far apart in some things, like the injections, bringing them together, and maybe again for his glory. It might well be. This is some economic stuff we got to talk about. Personally, I just need to talk with you about my taxes. Can I get the forms out real quick and-- oh, wait, no, I'm sorry, wait. We'll not do that right here. Well, no, it's not anything like that. But there are some things we need to talk about, including the world's most important stock. We'll do that with Zach Abraham, Chief Investment Officer, Boer Capital Management. I'll just do this real quick. If you are snacking on ibuprofen, you're a fool. Jack, well, I was going to say something nasty. But then again, I'm talking about me. Yep, little old me. Going to bed at night, taking out four of those beautiful orange pills. And man, are they beautiful, sucking them down as my wife looks at me and says, are those ibuprofen? Yeah. OK, do you remember that your dad died and the autopsy said liver disease? Yeah, but I'm not my dad. OK, so you're going to eat more of those. Is there something else that would work to fight inflammation? Nope, fish oil doesn't work. Along comes native path crawl. Jen from Radio Sales, Radio Mercosales says, hey, will you try this? Nah, I've tried the fish oil. It's not fish oil. Comes from a shellfish. Yeah, yeah, it's going to be a big and different. OK, fine, I'll try it because they're thinking about buying ads on the shell. I try it. And three days later, I go, wait a hold on, wait a minute. I haven't had inflammation since I started taking this stuff. So I put together a phone call, and the team gets back on the go, yeah, didn't we tell you this the first time? Are you slow? I said, yeah, I'm slow. Here's the deal. Antioxidants, vitamin E, vitamin C. This stuff is 6,000 times more observable than vitamin C, 500 times more observable than vitamin E. Therefore, you get more for your money, and it actually works. Ibuprofen's been out of my life for six months, despite the insane things I do to my body. Stop snacking on pharma at night. Go to nativepathcryl.com/todd. See the specials they've got for you there. It's nativepathcryl.com/todd. Hint the more you buy, the more you save. I just bought a new supply yesterday, and I got free shipping because I bought a lot of it up front. nativepathcryl.com/todd. So there's a couple of economic things. I get the political reason that they're importing illegal immigrants into states like Massachusetts. And I think we all get this now. Our dear departed friend, Dory Monson, God rest him. He was one of the first to notice that, hey, you know what? We have a whole bunch of congressional seats that are a result of illegal immigration. He started talking about it. I started talking about it now. It's nomenclature. Everybody gets this. That's the political reason, and they intend to have ballots out there floating around so that they can take those ballots and use them for vote fraud. But the Massachusetts GOP has noticed that there's a secret $1 billion program for housing and bringing in illegal immigrants. What is the possible economic argument for this from a perspective of big business? Well, it's funny you ask about this because I was thinking about this recently. You've got such an anti-life push on the left. And don't take this as gospel. But I think if you extract minorities out of the equation in the United States, I believe the white population in the United States has a negative birth rate. And I think overall all naturalized United States. And so I'm not sure how the study defined immigrants, but I think it was here less than two years or something like that. But basically, it's stall speed on the birth rate and that the only positive inclination on population growth is immigration. Yeah. And then immigrants naturally are going to have a higher birth rate, at least in the first generation or so here. And so it really is bizarre. Yeah, I think that there's a push. I think it's-- look, why did we outsource to China in the first place was for discounted labor? So you've got the Chinese issues now. I think in some ways, that's incentivized, a greater inflow of illegal immigration. I don't know that to be true. Obviously, I'm not a part of those conversations. But it is interesting to me that you start a fairly aggressive and purposeful offshoring out of China for the first time in 20 years. And then within three years of that, you've got a wide open southern border. Those could be coincidence. This sure doesn't look like it to me. But yeah, I mean, I think it's just them offsetting the negative birth rate here. And if I put on my conspiracy hat, I think it is probably to blur international lines, right? Like moving toward a one-world government. And it used to be, you sound like a crackpot conspiracy theorist. If you just listen to people at the IMF, you listen to even people at the European Union, they want to recreate Lenin's, what if there's no hell and no heaven and no religion, too? Like, that's what they want. And if you're coming at things from a secular worldview, I understand why they want that, right? If we want to eliminate war and poverty, let's get rid of governments, right? Right, right. And let's get rid of belief in God, because we can construct our own heaven and our own earth. But we'll do it the right way, because God, he's wondering I'm making all those rules and stuff. He's got all these ideas, and hey, don't do this, and don't do that. And it's like, dude, what do you know? I mean, if you ever put out a pair of shoes, they're hard, right? Well, he's in there, and he's into this whole consequence thing. Right. Like, yeah, I want to deal with that. So stinking and knowing. And then let's just, hey, by the way, why are there limits on heaven? I mean, you know, there shouldn't be a border. We want heaven to be just like earth. And then God's saying, why would I have heaven? Right, why would I do that? Right, right? Yeah, or money or sexual partners. Why should I have a restraint on anything, man? Right, and God said, you do notice the diseases and the depression, but okay, you guys go do this thing. All right, let me get to one other kind of economic thing. And then we've got to get to the world's most important stock. So Kamala Harris and the people who run her, they want a five trillion in new taxes. They want to let the Trump tax cuts expire. So Wall Street Journal says at least the 62% of households seeing a tax hike. She wants to give money like California's 150 grand for illegal immigrants to have houses. If you are looking at this from a perspective of the retirement accounts of the people listening to and or watching us right now, five, 10, 15 years out, that's what you do. Risk management, active management portfolios that can actually reduce risk and volatility. I'm good at that, right? So when you look at it this way, if this comes to pass, what are the first things you think get hit economically in terms of stock, knowing that the Fed's going to do everything they can to monkey right and make it look like it's okay? Yeah, absurdly, and I don't like saying this, but absurdly it probably bullish the stock market. So yeah, and listen, you're at a point where we all have to accept the fact that in a world of we're just printing money or we're conjuring money out of thin air, we're just giving it away. At the end of the day, there's two ways that asset prices go up, right? Either they become more productive, which means they yield more profit, or you just increase the numerator and you decrease the denominator, meaning you lower the value of the, if nothing, like let's say house prices didn't change for a decade, but the currency devalued by 40% over that same decade, housing prices in terms of that currency went up 40%, right? So I think you're right there at that point now where increased spending and increasingly irresponsible things that are going to have deleterious impacts on society, on culture, long-run financial viability of the United States, I think those things are going to be beneficial for the stock market. And in a lot of ways, you see it right now, right? Like you see an economy that is clearly sputtering and slowing, it's not disaster area by any stretch of the imagination, but I don't think anybody's stopping to think, you have a sputtering economy, growth is decelerating, it's not alarming, but while running 7% deficits, okay, that's like saying, hey, yeah, the gas tanks only show on a third to a fourth, you know, only having a third or a fourth in it, but look, you know, that's far from empty and you're like, yeah, man, but we're pumping gas in this thing at this time, right? Well, which means you got a hole in the tank. - Yeah, but there's some hills, we're gonna go down some hills. - Get wrecked, but wait, then you're gonna go up some hills. - Right, right. - But we can coast going down the hills, so then the hills aren't as steep, right? - Yeah. - Did you ever drive into, because this happens on the West Coast, do you know what max-milers are? - Now. - So these are people who, the drive hybrids and they do a lot of coasting. So the whole game is, I'm gonna stretch a gas tank as much as I possibly can, and you can tell when you're falling a max-miler because they keep going in and out of neutral. So if you're watching them to this slow down to like 49 miles an hour, then they just goose the car just a little bit and they just keep doing that. They're just these absolute menaces, but they're just obsessively looking at the dials. Oh my gosh, and they have their little websites. I got a hundred miles to the gallon, and this guy behind me in a truck just like steaming. I loved it 'cause he's getting 30. And it's sort of the same thing with our economy, right? We'll just coast and then there's the hills. But it's all good, but now we're down to a tenth of a tank. Yeah, but there's a big flat stretch. We can push the car. - Yeah, yeah, yeah. We'll open the doors and kick our feet like Flintstones, right? - Right, exactly. - I've actually done that before, but it wasn't because I was trying to break any land records. It was because I inadvertently gone past the last gas station. - Oh yeah. - And I could have sworn there was another one in between. So I was actually coming down, what is it, blew it past? This wasn't that long ago. I was going to meet some buddies over on the eastern side of the mountain. And I kept thinking I was coming out of that, got off on 90 and went through just the outskirts of Cleveland and went past gas stations. I was like, no, there's another one before the past starts. Well, I remembered wrong. There wasn't. The one I was thinking of was the other side of the past. So I was going up on fumes. I was coasting down the back in neutral. - I have done the same act. I've done the same thing. And it was that I went into a Cleallum to stop. I'll get gas here. And then for whatever reason, there was some event there, like a trail run or something and all the gas stations are back, but I'm good. No, no, I'll make it to what Cleallum, no, Ellensburg. I'm fine. And then I get to, I'm headed to Ellensburg and then there's the traffic slow down. Oh, hold on. And now I've been idle. And now it's like that 45 minute thing and you're just watching. I'll keep turning the car off and it's 90 degrees. - Sweating bullets. - Right, sweating bullets. And I did the same thing of rolling into the gas station. I'm like, that is not a red light that looks amber to me, roll around the corner and up to the tank. Oh, yes, I've done that. It's a thrill. Now I want to try it again. Now I get the Max Myler thing, man. It's that, remember that Seinfeld episode where Kramer and the guy were test driving that sob and they just wanted to take it to the last thing? Okay, completely lost to the start of the show. What are we talking about, economy? That's right. We were talking about the five trillion dollar increase in taxes that Kamala Harris wants. Okay, we are going to talk about the world's most important stock in a second with Zach. I was talking yesterday with a guy who's a lot like you. He made his wealth on math and investment. His name is Steve Anderson. He's the managing partner, managing director of Renew Healthcare in Mexico. You gotta come down with me. I'm going back down in November. You gotta come. So Renew is a place that should be located in America, but what they do is full on illegal here. Here's what they do. They take what we call medical waste. This is the miracle of umbilical cords. The miracle of placentas. Those are miraculous things God made and they burn them. Now what's contained in there is a process through a process you can get to something that's called Wharton's Jelly. And this is a massive stem cells that do not come from abortion, again umbilical cords and placentas. Those stem cells are packed with incredible powers, such as when they're injected into your body, they immediately attack inflammation. This can be in your brain. It can be in spinal cords. It can be in my case, in my shoulder, my ankle. That's job one they do. Job two is wherever they're inserted, they start building stuff. This would be like, if you're home, let's say that you had a roof collapse in your house. This would be like the stem cells. You pour them on the hole and they build roof. So they build the top of the roof. They build the support beams. They build the drywall. They do all of that. That's what the stem cells do. So if you are facing surgery or you have lower lumbar pain or lack of mobility, neuropathy, even neurological issues in your doctors have said, well, let's wait six to seven months. We'll see if maybe we'll see you one day. Or they're telling you, it's just surgery pills for this, your life. Pause. Go to renew.healthcare. Tom, you are a member of the podcast and a radio show family. And they will tell you if they can help you. If they can, you could be home in as little as a week. With this all taken care of, and you go down to beautiful Port of Art of Mexico, one of the safest regions in Mexico, it's renew.healthcare. Zack Abrams with us, chief of the best officer board, capital management, a couple of different pieces about Nividia. This one says, Zack, Nividia has become the world's most important stock. And let me give you the quote. It's the most important stock in the world right now. EMJ capitals, Eric Jackson told CNBC's closing bell last week. If they lay an egg that would be a major problem for the whole market, I think they're going to surprise to the upside. Nividia's report comes week after its mega cap tech peers got through earnings. A company's name was sprinkled throughout what analysts call as Microsoft, Alphabet, Meta, Amazon, and Tessa, all spent heavily in Nividia's graphics processing units to train AI models and run massive networks. So it's the most important stock in the world right now. That doesn't feel right to me. - So what Nividia has done is really unprecedented to be fair to them. I mean, the profitability jumped, the revenue jump, unbelievable, right? I mean, I think it's revenues like 400% over the last two years or something like that. And I'll just keep repeating it. He's probably right. My suspicion is that they will beat on whatever the reported number is. And I think that, and again, this is nothing against Jensen, Wanger, and Vidi. I don't want people to read into this. But they know their business very well and they're very good at gaming the numbers. And anytime they're going to put up an estimate, it's going to be an estimate that they think they can beat easily. And that doesn't make them any different than any firm on the street. It's not a bad thing. So I would suspect that they do beat. The issue that I have with Nividia is kind of what the guy just said. Like a cornerstone of his bullish argument is the big companies like Microsoft and Apple and those guys are buying their chips. Okay, for right now they are. Apple's not using their chip on the new phone. They're using the Google chip, right? And from the very beginning, you and I had this conversation where I thought, if your investment thesis on Nividia is that the big tech companies are going to keep lining their pockets, you're crazy and it has nothing to do with Nividia or an axe to grind against Nividia. It's that if the potential of that is that large and the marketplace is that large. And if your basis for investing in Nividia at this price is you think they're going to maintain their 65 to 70% margins, they're not. Like it's not going to happen, right? Let me explain a stock double fear before it goes down. Yeah, so let me try this from a Microsoft perspective. Okay, so there's two entities right now at least looking at this three, actually. Microsoft legal looking at their contracts with Nividia. How are we restrained? Then there's Microsoft Labs and they're already looking into what our AI chip's going to be. Their bet had been based upon DNA. So quantum, quantum processing using human DNA was a big, big bet they were making out of Microsoft Labs. They're looking at that. They're storing information that way, faster processing than anything that's ever been seen. And they're the side of that are a bunch of analysts in their quants, mathematicians, MIT economics people. They are having constant meetings and they already know what the crossover point is. They've already put a date certain if these prices continue in this way, this market share continues in this way, we make an entry into that market. The same thing happened at Google. Google already decided to make the entry into this. My argument in Nividia being the world's most important stock is, you already had HP come along and say, we're coming into this, we're going to cut the prices by one third. No, by two thirds. The reason it doesn't feel right to me is with these inflated valuations and this absolute coming competition. Microsoft and Google know how to cut throats. I'm sure the people in video know how to do that too, but Microsoft and Google, they've been cutting throats and sucking blood out of entities for a very, very long time. And when they come for you, they can do some damage. - Yes, yeah, no, and that to me is the issue that I have with it. I understand the excitement. I think Nividia has done an unbelievable job. I just, when you're talking about a company and people go sit there and look, I just had a conversation with the client of mine, actually. And he goes, "Zack, but look at the earnings growth." You know, 65 is 70 times earnings or whatever they're currently trading at. I know that's high, but look at the earnings growth and I go, "Yeah, but you got to remember "that you got to look at sales." In my opinion, I think the way you got to look at Nividia to get it, to conceptualize it, is to look at price time sales. So you look at total revenue, right? And then you divide that, you divide the total market capitalization of the company by the total revenue, okay? So basically, your price time sales, right? Like what is that equal? And if you do that on an Nividia right now, you're talking about a three and change trillion dollar company. I think it's like 3.2 trillion. And I think you're trading north for 35 times sales, don't quote me, but it's probably, it's somewhere in that 30 to 40 range. That is unbelievable for, you know, but that's unbelievable for a small cap company. Okay, so what I'm saying is, I'm not saying they're going to implode. What I'm saying is everybody goes, "Oh, yeah, the future's so bright." I'm like, "Yes, that's priced in, guys." This isn't new, right? Everybody's like, "Oh, are they going to beat?" They better because that's what's priced in. Now, if they beat substantial, will stock go higher? Yeah, because that's what everybody's going to do. But no one's paying attention to the underlying math. And my issue is not with NVIDIA, their capability, their technology, anything like that. It's just to buy it here and to assume it's a good investment here. Because remember, when you buy a company or you invest in a company, you're investing in what they're going to do, not what they've done. Okay, so right now, you're paying a really high price for what's already been done. But that price is already really influenced by what people think it's going to do, right? So it doing what everybody thinks it going to do, that's not a win for you if you own the stock. It has to do better, meaning you look at what everybody is extrapolating out and they're extrapolating as if these margins aren't going to go anywhere. Okay, so if you're, then that means your base case for NVIDIA is that something is going to happen to a stock that's never occurred before. Okay, it's not a good investment thesis. - You said that so beautifully. That's exactly right. There's such high expectations. They don't just have to deliver on high expectations. They have to triple the high expectations. And people are already imagining this thing of the stock in this killer market. This Yahoo Finance says, if you don't own NVIDIA, you're skipping out on a tech revolution fine. But the stock, I think what you're starting to say is people are imagining this stock is never going to be affected by competition. The world's biggest companies are going to leave them alone. Oh, that's not fair. They invented those. Let's not go play in that space. The world's biggest companies like Hewlett Packard who are going to institute the price war aren't going to have an effect on this. They're absolutely going to have an effect on this. - Well, and let's flip it around. The greatest profitability engine of all time has been the Apple iPhone, right? Well, the vast majority of time, Apple sold those iPhones. They're margins of range between 38 to 42%. Okay, the most successful consumer product in history. Okay? So you're looking at NVIDIA running at 65% margins, 65 to 70% margins. And you think that's sustainable, 50% greater margins than the most successful consumer product of all time. Apple, it's just not. It's to assume that there will be no competition. And what I'm telling, trying to tell people is the fact that they are running 70% margins, guarantees there will be competition. - Exactly. - It just flat out guarantees it. So it's just, look, they could go up in the near term. You've got a market that doesn't care. You've got Costco trading at 60 times earnings. Love Costco prices absurd. You've got a longer trading at 40 times earnings. - So, look, I got what you're saying about Costco. You're breaking up a little bit. It's just an audio thing. But that's exactly the perfect point. Now, I want to go from discussion of this stuff as a stock price to what's happening in Europe to tech CEOs. And obviously, I think you and I are going to agree on the aspects of freedom of this. But what's happening here, we need to talk about this in terms of company ownership and the pressure this puts on companies. And we'll get to this in a second. Was that K Abraham, chief investment officer of board capital management? We've got a little tech running in the office. And this truly happened to me. And now, we'll refuse this to go on Mike or camera. Can you just scream something like this is true? When I walked into the studio, just a little bit ago, what did I say it smelled like? Come on, the microphones done their storm. And this is true. I've been coming into the studio for six months with the Oxi leaf two thunderstorm device. And I opened the door, I'd been outside. And yeah, okay, so I was tanning. Whatever, our sun's going away. So I decided to get a little bit of tan. I was out there in the field and I could smell the lake and all this. And I walk in, I go out smells like thunderstorm. It kind of surprises me. If you have anything like the following in your car, kids, dogs, and your car ends up stinking and you're in business and you have to drive people around in your car. Can I suggest something? Even to air out your car, this is perfect. If you're in the car business, you're selling used cars. Put these in the cars and sit at that fake new car smell. I'm telling you, my friend Ben did this with rotten meat in his truck with kid puke in his wife's car and that baked overnight. Guy did it on classic cars. He has in his garage that get locked up all the time. People will sit down in their cars going to smell like they're the thunderstorm, Airbnb. Make sure that it doesn't smell like the last guests. We just did an Airbnb. I'm thinking I should have left one of these behind. No, no, we smell fine. But you can go to EdenPirdeels.com, enter code TOD3 to save $200 on whole home coverage for any and all those applications. EdenPirdeels.com, enter code TOD3. Zach, there was a couple of things that happened in Europe. One of them was the guy who runs Telegram. His name is Pavel Girov was arrested and basically what we're being told is the French government says, "Oh, well, terrorism and fraud." And really what it comes down to is he won't censor people. The guy who runs the video platform Rumble, he fled Europe because he thinks he's facing arrest as well. So there's geopolitical consequences to this. There's freedom consequences to this. There's godly, God is pro-free, speech and pro-accountability. But talk to me from a perspective of business. What this means when you're getting this heavy handed from governments in Europe. - Man, I mean, the part that scares me is I feel like that we're not that far behind, right? - Right. - And I think it's kind of just, I think at this point, I think it's hard to read it as anything other just a preview of what's coming in other parts of the world. - The stock market's gonna love this. - Yeah, well, you know what? I mean, then they'll turn around and juice it with whatever. They've got to juice it to compensate for it. So, like I keep telling people, I just don't think people realize how far along the path we are. - No, I was saying this week, you are in the fascist revolution, in it. I mean, the installation of Kamala Harris with no votes and the seizing of power from Joe Biden after he seized power from Donald Trump, you're in it. My question is, didn't investors love fascism in Italy? Because fascism is, no, truly governments. Hey, I'm not trying to be cutesy. Governments and companies become one. Man, that's got high profits because, oh, you don't want to purchase our product? Oh, well, that's fine, 'cause we'll put your competitors in jail. You don't want to use our messaging app? Well, we use it now that other people in jail? - Look, it comes off the tails of Zuckerberg's letter that he wrote the Senate Judiciary Committee the other day, right, where the greatest frustration I have is all of these quote unquote conspiracy theories is we all joke about, they keep getting proven constantly correct. And furthermore, one of the leading rally calls or rally cries against Donald Trump, right? Russia collusion and all that kind of stuff. Oh, there was collusion and we've heard it every single step along the way, but then to have the founder of Facebook step up and say, yes, we did silence the Hunter Biden stories. Yes, we did tilt the coverage toward Biden. Yes, we did, yes, we did, yes, we did. And you're looking at Americans and going, wake up, guys. I don't care what sensibilities you have that you think Donald Trump offends. I don't care what little guys, right now, you are looking at authoritarianism or American style democracy, okay? And your hatred for Donald Trump is making you gravitate and embrace toward totalitarianism, authoritarianism. Don't do this. Nobody wins, right? Like, hey, let's have our other debates over stuff about putting litter boxes in high school bathrooms. Let's have that debate later. But let's all just establish the fact totalitarianism and authoritarianism is not good for anybody. We don't want to end up there, right? And watching these people embrace this in light of being scared by the boogeyman that is the fascist bigot Donald Trump. It just terrifies you because it's so Orwellian where you're sitting there going, you know, V for Vendetta. You know, I thought somebody pointed out, Elon Musk pointed out really good the other day. He goes, all of you watch Lord of the Rings and identify with the Hobbits and Gandalf. All of you watch the Hunger Games and identify with Katniss. All of you watch, you know, what was the other recent one? But you know, he's like, you all identify that and then you're doing the opposite in your personal lives, right? You're voting for the evil empire. I mean, you're, and it's really easy to tell. History provides you all these clues. They provide breadcrumbs, right? Whatever side is trying to suppress debate or free speech is always wrong, a period. - I guarantee there are board meetings that are happening right now at other tech companies that make apps like this go and see, we're going to keep censoring. Hey, I don't know about you. I'm not going to prison in Europe. - Well, look, this is the perverse incentive of running 7% deficits. What's the biggest source of capital flowing into markets? It's government. So if you want to be the most successful big cap company, you have to cozy up, baby. You got to be next to the trough, right? And the biggest flow of new capital flowing into this market, the source is the federal government A and the federal reserve B. And if you're not in klutz, you're going to get edged out. And that's, and everybody's just voting their pocketbook. And it's this whole, you ever see this, you ever see the show "The Strain"? You ever see that show? - I've heard of it, but I've not seen it. - Interesting show, it's like a, they kind of put an interesting spin on vampires and it's literally like a virus. And anyway, it shows how all of these people are going through these machinations to put themselves to get greater wealth, to get greater power. But they're doing it all in vain because they're doing it helping the evil side that's going to use them as a juice box for the next 20 years. - Oh, yes. - But it's a fascinating show to watch because you sit there and you're like, this is a critique on all of society. It really is. You're going to be, it's like, you're going to be the one man ruler of nuclear winter. Congratulations. - Right. - And that's what they're doing, right? They're vying to get better positioning on seats on the Titanic. And you're like, you're aiding and abetting the sinking, right? And it's just, it's horrifying, man. - I agree. And we're living in it and people don't understand that, like the cliche is a fish doesn't know it's wet. There's one other AI story I want to share with you because it's a sign of worshiping systems. And there's, this guy may actually, I mean, I don't know if he's going to get this done, but it's a sign of worshiping systems and also this belief in the human mind that human wisdom is astonishing to me. Of course, fear of the Lord is the beginning of wisdom. I'm chatting with Zach Heber. I'm chief of investment officer, board capital management. He publishes, he publishes something called the common sense investing guide. This guide only costs you $1,000. No, I'm sorry. It's 500 bucks, no, I'm sorry, it's free. It's free. And with the common sense investing guide, you can learn about risk management as practiced by board capital management. Risk management can reduce risk and volatility. I mean, that's its focus. They do that through active management of portfolios, which can also reduce risk and volatility. What the heck does that all mean? Get the guide, read it. And it might be that you come out of this and you end up saying, yeah, I get this, I can go do this. And I bet you, Zach would say, go get her done. Check back with me, tell me how it's going. If you don't think that now is the time for on-the-job training, if you're 5, 10, or 15 years from retirement, and I happen to think it's not, that's why Zach manages my money. Then you can turn to him and say, well, you do this for me. Simple, easy, go to knowyourriskradio.com, get the common sense investing guide, or call 866-779-RISK, that's knowyourriskradio.com, or 866-779-RISK. Board capital management and investment advisor, representative of Chuck Financial LLC and SAC rich investment advisor, investment advisor, you could lose money, past performance, isn't guaranteed future results. Truck 24-244, knowyourriskradio.com. Man, I did it really well, I like that ending part. So Zach, there's a guy who's running to be a mayor of a city in Colorado, Cheyenne, Colorado. Is it in, is Cheyenne, Colorado, Cheyenne? - I only. - Cheyenne, well-ming, Cheyenne, Colorado is not a Cheyenne. He wants to be mayor of Cheyenne, Wyoming, and he's pledging to manage the 65,000 person city exclusively with a generative AI bot. He built himself called VIC, our virtual integrated citizen. Get your vote? - No. (laughing) No, I've seen too many Terminator movies, man. - Right. - Yeah, I'm not voting for Skynet. - The hunger that people have to turn themselves over to anything but God. - Right, right. - Let's let the AI do it. What will the AI be? It'll be an amass of human intelligence but really broadly distributed. Okay, so it's gonna search the entire web. Yes, it's gonna find the best answer. Yes, based upon what? Human intelligence. This is different than cigarettes are okay for you, how? Because that was human intelligence. It's fine to suck on a weed and then add tar and stuff to it. This is better than the food pyramid, how? This is better than eat a bunch of cheese and wheat and you're gonna be okay and refined sugars. How? Well, it's mass distributed. They can't just turn to what God designed as, do you think God made cheese hard to make for a reason? Do you think he made sugar hard to make for a reason? I like when we made refined sugar, I bet God's up there going, oh, here we go. - Yeah, here we go. - Nothing can be starting that stuff. That amazes me and it frightens me every bit as much as this Orwellian just rush into, Kamala Harris is the nominee. - You know what I mean? - Yeah, no, like I said, especially in light of the, and I don't wanna use the word surprise because it doesn't surprise me. It is still shocking to see in light of all the evidence, the Zuckerberg letter that so many people are still sticking with that line. The willful ignorance, the desire to put your head under the sand, the desire to believe all these ridiculous things. That's the thing that shocks me. And when I say shock, again, it doesn't surprise me. I know that's the trajectory we've been on, but to watch human beings just completely set their brain to the side. It's not a surprise, but it is dismaying and it is somewhat shocking to see it in life, right? Like it just, you just kind of sit there and go that, that's a bridge too far. - Yeah. - We're gonna do that and here we are. - See, I don't think, I mean, I guess it shocks us because we don't wanna think this way about fellow humans. - Right. - But let's look at this. Look, AI's the new cult leader. - Yeah. - And cult leaders always make fantastical promises. I'm gonna get you into heaven first. I've got the special way. It's not in the Bible, it came to me. They always do this. And AI is gonna be the new version of this. And I wonder if the lawless one is just gonna be an AI bot, right? That comes on, 'cause I don't think the Bible says it's not gonna be an AI bot. You're really interesting. - What's, and I hadn't even thought about this so you just said this, but what's really interesting is take the average user of the AI and I would love to see them do some experiments. Have the AI tell people to do ridiculous, senseless things and see how many of them will just do it. - Oh, right, 'cause yeah. - It reminds me of that office episode. Remember when they're driving in the car and he's listening to GPS and he turns into the lake 'cause it doesn't take a ride. Like, people will do that. Like, if a computer tells 'em to do something, it is like they hand a gun, right? - There's so many sociological experiments like this that are on video where you put people into these focus groups and when there's people with white coats. Okay, so what we're gonna do is we're gonna experiment with foods, we're looking at your responses. Some of the things you're gonna be looking at are passive. Me looking at certainly how you enjoy the food, your verbality about this and what you're telling us, but we'll be looking at some indicators like body language and heat and we'll be measuring some things. They'll start out with grapes. People are like, oh, you know, I like grapes 'cause they're tangy and, all right, so now we're gonna put in, you know, a little grape salsa. So there's grape salsa, okay, well, this is an interesting taste, they get sweet and, all right, so now we're gonna add some fish to this. Okay, so fish and grape, and they're making the thing as disgusting as they can, but there's actors at the table. So there's actors at the table, you know, this is actually making it better. I mean, this is really, I mean, I enjoy this more and you watch the people lying as they're like, oh, I like it too, and they want so much to believe. They want so much to be part of the group and that's what I think we're seeing with this AI stuff and people just falling over for, let the new boss be digital and the video's the most important stock in the world and you know something, Zach, 'cause I was considering the program. Kamala Harris is the kindest, gentlest, most intelligent and empathetic leader we've ever elected in this country. - 100%, there's no debate about that. - There's no debate about that. - It happened to us through the course of the show. Brother, thank you for joining us. It's always a joy. Say hi to the family and we'll see you over here in the high mountains of free America soon, right? - Yeah, sounds good, man. Thanks for having me, fun as always. - This is the Todd Herman Show. Please go be well, be strong, be kind, and please make every effort to walk in the light of Christ. - Owning a rental property sounds like a dream until you realize how much work goes into getting it ready. 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