36 Burst results for "Sherman"
A highlight from Elizabeth Warren Wants to Criminalize Bitcoin Self-Custody | EP 858
"It's all going to zero against Bitcoin. It's going up for everyone. Bitcoin! You're against Bitcoin, you're against freedom. Yo, welcome to another episode of Simply Bitcoin Live. We are your number one source for the peaceful Bitcoin revolution. We cover breaking news, culture, and matic warfare. We will be your guide through the separation of money and state. And today is one of those episodes where we're going to be talking about the separation of money and state. One of my favorite features about Bitcoin is that eventually it exposes all incentives. And what we've seen over the last two weeks is Elizabeth Warren, her allies in the media, and her allies in government take advantage of the tragedy happening in Palestine and Israel to try to circumvent the legislative process to enact these crazy regulations that attack would essentially Bitcoin, make it very difficult for Bitcoiners, particularly in the US, even though this movement is happening worldwide. Now what happened is that this ended up backfiring, and the reason that ended up backfiring is because social media has allowed the common man, the everyday individual, the rise of media. And that's exactly what happened. The Wall Street Journal conceded on Friday, they retracted their statements, they offered a correction, and the Wall Street Journal article was the pillar of Elizabeth Warren's letter to the White House, which prompted the White House to tap on the Treasury, specifically the FinCEN, to enact these crazy regulations. Now it was exposed, the Wall Street Journal article got it completely wrong, therefore Elizabeth Warren, she was using false information or misrepresenting information in order to achieve a certain political end goal. She was caught in 4K, we said this yesterday. She did not retract her statement, she doubled down. She said, okay, maybe that that article was incorrect, but there's other sources, but she only used one source in that article for the White House, right? Now what happened though, and this is beautiful, and this goes back to my initial statement, is that Bitcoin exposes all incentives. And what we've seen is essentially Elizabeth Warren, first, you know, she lied, first she gets caught lying, then she doubles down, and then she finally says the quiet part out loud. And what is that quiet part? Basically she's making the case to criminalize self -custody. Yes, ladies and gentlemen, this is where we are in the movie, this is not rhetoric, this is not me exaggerating it in the title, this is exactly what she said in the video. And then that really calls into question the FinCEN proposal and the bipartisan bill that Elizabeth Warren has introduced in the Senate, even though it has a very low likelihood of being passed. But this is what she really wanted. And this coincides with the exact same words coming out of the head of the European Central Bank, who was previously the head of the IMF, who I might add is also a convicted felon, she calls Bitcoin an escape valve. So really what you're seeing from Elizabeth Warren is fear. What you're seeing from Christine Lagarde is fear, because they know that their money cannot compete on the free market with a better money, with a superior money. And why is Bitcoin superior to state -issued currency? Because it does two things that they cannot help themselves but to do. It offers censorship resistance, and it's deflationary. Governments are always going to want to do those two things, they're always going to want to censor, and they're always going to want to inflate, because without inflating they cannot pay for the endless wars, they cannot pay for the things that we cannot afford on income tax alone. The money printing is how the United States continuously spends over a trillion dollars, deficit spending, year after year, even though the government, you know, you hear the rhetoric from the politicians, we must tax the billionaires, we must tax more, tax, tax, tax, tax the income tax. But what they fail to tell you is that the US government collects more tax revenue year after year. But why is it that they want to collect more tax? It's because of the spending. This is why you have to separate money from state. It's a question of aligning incentives. As long as politicians don't have to go to the populace to raise money for any ideas that they have proposed, and instead they can get they can fund it through the hidden tax of inflation, the incentives of society will never be aligned. And I truly believe that's why we're seeing the moral degradation of society. That's why you're seeing the cultural degradation. That's where you're seeing the infrastructure degradation. All these things, because the people in charge are not incentivized to do good by their constituents. They're incentivized to get as close as humanly possible to the money spigot. And they're willing to say anything and everything. But blame themselves for the circumstance, for the situation they themselves have caused for spending money they didn't have and debasing people's money in order not only to enrich themselves, but to pay for the spending that people can't ignore. I mean, for the spending that they cannot afford. But here it is, once again, Honey Badger don't care. And it forced Elizabeth Warren, whether she realized or not, to finally, finally say the quiet part out loud. Self -custody is a crime. If you choose to put your money in a way of which I can't easily seize it, I can't easily confiscate it, I can't easily censor it, that's a problem. And that is a problem for politicians that have been using that privilege, abusing that privilege to not only pay for themselves, I mean, enrich themselves, but also pay for things that we can't afford as a country. And of course, we're speaking from an American sense of view, because we live in the United States. But this applies to all countries around the world. Look at what's happening in Venezuela. Look at what's happening in Argentina. Look at what's happening in Turkey. So this is crazy, and this is a very historical moment. And I'm telling you, in a couple of years, I think they're going to get so desperate that they're going to just keep saying this, that the whole thing of self -custody is dangerous. And if you think about that, like if you think about it from like a foundational level, like that is so absurd, because we can't debase your money, because we can't easily confiscate your money. That is dangerous. And you have to look at the historical precedent here. Back in the 30s or in the Great Depression, FDR implemented the famous 6 -1 -0 -2 order, where he made it illegal for American citizens to own gold. So countries, nation states, have had a history of when they default on their debt, they have a history of confiscating their populace's wealth in order to keep it going. But with Bitcoin, this is why Bitcoin is so unique. This is why Bitcoin changes everything. For the first time in human history, you can store vast sums of wealth, millions, billions, trillions of dollars, by memorizing a 12 to 24 word seed phrase. And that makes it incredibly difficult for government to confiscate on a mass scale, whatever their justification is. And it has them scared shitakulous for the sake of not cursing in the first couple of minutes. So this is crazy. This means we're winning. Let's keep up the pressure. Let's color within the lines. And most importantly, our most important weapon in this narrative trench warfare is just to expose their lies and misrepresentations so that the world can see them for who they are. Anyways, it's going to be a great show. I want to bring up my legendary co -host, always optimistic, giant smile on his face today. How are you doing, Opti? I am doing wonderful. In the face of this very, very sober monologue, I was just thinking, of course, I think my reigning role here on the show is to make light of everything in regards to it getting very serious. And I have officially changed my view on my favorite politician. It is no longer Brad Sherman. It is now officially Elizabeth Warren. Absolutely love to see the politicians, the powers that be, the unproductive class squirm like this. And we say it all the time, Bitcoin exposes people's incentives. And you love when they say the quiet part out loud. And it's not just us like talking about it. It's them actually terrified of what is happening. You just love to see it. You know, it's going to go into what we're going to talk about on the culture. This idea that we're winning so hard, guys, it's absolutely incredible. In the face of all the fear, just remember that Bitcoin just stays winning as long as you are taking Bitcoin into self custody, the game is going along exactly as planned. And you just love to see it. This was inevitable. And it's actually happening a lot quicker than I thought it would, Nico. I'm really surprised that this is where we are. Of course, Elizabeth Warren seems to be the canary in the coal mine for the powers that be. So we'll see who else starts to come out as our also third and fourth and fifth, second or wait, six favorite politicians. You love when politicians get scared. I'd love to see it. Love to see it. Anyways, guys, so in these types of moments in history, right, it has never been a more important time to take self custody. The sponsors that support the show, make this show possible. We're very, very picky who we choose. Right. So, yes, of course. And this all kind of goes to Bitcoin's aligned incentives. We choose to partner up with Bitcoin companies that make it easy for you to stack SATs, make it easy for you to withdraw those stacks from that said exchange. We give you exposure to the best Bitcoin hardware wallets in the industry so that you can take self custody. And we also emphasize the fact of, you know, not your properly securing your Bitcoin wallet backup seed words. Don't store it on paper, store it on metal. And then not to mention the fact that we also bring up, you know, if you got it, you guys want to take the next level, run your own node. If you don't run your own node, you're trusting someone else's. And that's why we love start nine. We have all of that in the video description. So when we're talking about self custody, you guys are covered on all fronts of Bitcoin products to use it to really achieve your sovereignty as an individual. Anyways, everybody, let's jump into the show. I think this is a historical episode. I can't believe this is where we are in the movie. So many things have happened this year. Holy cow. And I suspect my intuition is telling me it will continue to accelerate as we're living through this pivotal moment in human history. We are living through the disintermediation of information and we're living through the disintermediation of money. And it's happening all at the same time. Strap yourself in. It's going to be a hell of a ride. And of course, simply Bitcoin will be here to cover it for you guys. All right, everybody, let's start the show. Let's do it.
Fresh update on "sherman" discussed on Stephanie Miller
"Dysfunction for the rest of his life. Ask DeSantis. Okay. Wow. This just in breaking news. George DeSantis has George Santos has been expelled over here. Didn't he say it's not over until he says it's over? Yeah. Right. And it's 21 votes over the 290 that was needed. It was 311. Over? Did you say over? Over. Nothing is over until we decided it. Was it over when the Germans bombed Pearl Harbor? Hell no! Sherman, forget it. He's rolling. An A over now. Because when the going gets It's tough. It's tough. Get going. Who's with me? Let's go. Come on. Aw. You know, come on, George. Just give Chris and I one dream. That
A highlight from It's All About Iran!
"Cable news, noisy, boring, out of touch. That's why Salem News Channel is different. We keep you in the know. Streaming 24 -7 for free. Home to the greatest collection of conservative voices like Dennis Prager, Jay Sekulow, Mike Gallagher, and more. Salem News Channel is unfiltered and unapologetic. Watch anytime on any screen at snc .tv and local now channel 525. New York City. And I will be gone for three days. Morgan Ortega will be in for me tomorrow. Generally, she will take over on Thursday and Friday. I do want to talk to you this morning about it's an unbelievable thing for me to hear Corrine Jean -Pierre yesterday. I mean, it's actually unbelievable, but a lot of people have heard it. But on the chance that you haven't, let's play cut 27 from the White House President Biden's spokesperson, Corrine Jean -Pierre. Concern right now about the potential rise of anti -Semitism in light of everything that's going on in Israel. So a couple of things. Look, we have not seen any credible threats. I know there's been always questions about credible threats. And so I just want to make sure that that's out there. But look, Muslim and those perceived to be Muslim have endured a disproportionate number of hate fueled attacks. And certainly President Biden understands that many of our Muslim Arab Arab Americans and Palestinian American loved ones and neighbors are worried about the hate being directed at their communities. And that is something you heard the president speak to in his. All right. The question was about the rise in anti -Semitism in the United States. And it's everywhere. I mean, anywhere you look, it's everywhere. Last night, a video was posted of a television person who went home to their apartment. There was a pro intifada demonstration in front of the apartment. It's not hard to find the evidence. I told you about Manhattan Beach Public Schools. I've told you about it. And yes, we know about the attack on the Palestinian boy that killed him and has severely wounded his mother, you know, two weeks ago and denounced it. But the question was about anti -Semitic attacks. And the answer was about Islamophobia. And I think that fairly reflects exactly where most of the Biden administration is. They're not with Israel. They're not with Israel. It's all the Obama people. Yesterday, Ben Rhodes popped up his head and Lucas Tomlinson, I think it was Lucas, found it. And he wrote this, Israel has legitimate security concerns and has the right to go after the military wing of Hamas, a faction that has proven to be the worst version of itself. What in the world does that mean? Does that mean there's a good Hamas? Ben Rhodes is not in the administration, but everyone he worked with is. And Obamaism completely infiltrates and controls the Biden administration. And the lead story, last night, there were 400 airstrikes in Gaza by the IDF. They're getting ready to go in. But the lead story in The New York Times and is US raises concern about Israel's plan of action in Gaza. The United States says, look, you know, maybe you want to do Mosul, or maybe you want, you don't want to do Fallujah in 2004. You know what? We did Fallujah in 2004. And we did Mosul in 2017. And we could afford it. And we didn't have to mobilize the entire country to do it. And it was standoff warfare. Israel can't have that luxury. They've got a army of fanatical killers, many of whom are high on captagon to their south. They got an army of jihadists to their north, and they got Iran paying for both. They do not have the luxury of the United States, directing prolonged ground assaults in Mosul or air assaults in Mosul and the bloody ground assault in Fallujah 2004. These armchair MIDI specialists in the Biden administration are pulling back. I'm going to talk with Mike Lauren about this at the bottom of the hour. Don't go anywhere. There's a lot of news. The House Republicans haven't got to speak yet. There's up today. Maybe they will. We don't know. And Morgan will update you on that tomorrow. But I'm mostly concerned that we're quite obviously pulling back Israel, the bear hug. And I don't know if any of you ever read the Chronicles of Narnia. I really don't. And it's their children book that aren't children's books. But they're fabulous. And I'm remembering vaguely the Prince Caspian, I think it's the fourth book in the series, where the children who have been drawn in through the wardrobe in The Lion, the Witch, and the Wardrobe go back. And thousands of years have passed in Narnia. And they cannot figure out what is going on. And they cannot see what is happening in front of them. And they don't want to believe what's going on in their beloved Narnia. And they just simply refuse to see. One of them sees Lucy, and then Edmund, and then finally Peter, but Susan never sees. I think I remember this correctly. Never admit seeing, although she always did. That's where we are right now. A lot of people in America don't want to admit where Israel is, surrounded by fanatics with massacre of 1400 and 228 or 248 of their people held hostage. So Hamas releases too, and Americans say, well, let's slow down. I don't think so. There's one world in which the Israelis live, and we'll talk with Michael Oren about that. And then there's another world where the Wendy Shermans and the Ben Rhodes and the other defeatists and round -heeled beltway foreign policy blob lives. And that's not where Israel can afford to live. President Trump last night, former President Trump last night in New Hampshire, what spelled out is the problem here by bringing up Iran. Now, he made a question about Iran and Biden. I want you to hear it. Cut number six. We have to bring our country back. It's not, it's not an easy thing to do. Would you believe what's happened to the USA in the last three years? But I will immediately reinstate all sanctions on the murderous Iranian regime. You have to do that. So we have a deal. That is the key. All right. We've got to crush Iran. Iran is really at war with Israel from the north and the south. And the biggest threat immediately for Israel is up for Israel to determine. I don't know what they're going to do. And I don't know how they're going to do it. And America should not be holding them back. The former president also talked about Iranian energy exports, which have funded all of this nightmare. Cut number 11. I will shut down Iranian energy and I'll unlock American energy like never before. And we will once again make the Iranian dictatorship very poor.
A highlight from CONGRESS CALLS FOR DOJ INVESTIGATION INTO BINANCE AND TETHER USDT & SBF TESTIFIES!
"Welcome to the Thinking Crypto Podcast, your home for cryptocurrency news and interviews. If you are new here, please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify, Apple or Google, please leave a five star rating and review. It supports the podcast and it doesn't cost you anything. Well, folks, it was a very interesting day on Washington, DC. Today was a Senate banking hearing and surprisingly, Senator Cynthia Lummis and Representative French Hill, both of whom I've had on the podcast and interviewed, called on the attorney general and the DOJ, the Department of Justice, to evaluate the extent to which illicit finance is facilitated by Binance and Tether. This is very surprising, folks. I didn't expect this because we've been dealing with Elizabeth Warren and her lies about Hamas, right, with the Wall Street Journal and so forth, and she still hasn't apologized or retracted her letter. But I was very surprised that these two, one Senator Cynthia Lummis and Congressman French Hill submitted this letter. And I think there's a bit of optics and political play here, not to mention possibly they may be getting lobbied by U .S. companies who would like to see Binance and Tether taken down, right? Binance being the world's largest crypto exchange, Tether being the world's largest stable coin, but they're both outside the United States. So you can imagine Coinbase would love to have the mantle of the world's largest crypto exchange. Circle USD would love to have the mantle of the largest stable coin operator in the world. So I think there's a bit of that here, right? And given that these two companies, for the most part, I'm not saying this is the facts, but they've had certain shady narratives follow them, right? Binance does not have any credibility in D .C. That is a known fact from people I've spoken to, whether it be politicians or lobbyists. And Tether, of course, there's always been rumors. Now, I am not saying Binance and Tether did anything here because I need to see the facts. I need chain analysis in these folks that come out and say, well, here are other facts, right? So this letter alone is not for me to say Binance and Tether are illegal operations or something, right? Or they facilitated bad activities, because what we've seen, it's not so much the technology, it is the bad actors, right, folks? Now, Senator Cynthia Lummis, she tweeted out the following and, you know, to her credit, she did echo the same statements I'm saying. She said, when it comes to illicit finance, crypto is not the enemy. Bad actors are. I sent a letter asking the DOJ to finish its investigation and consider criminal charges against Binance and Tether after reports they served as intermediaries for Hamas and engaged in illicit activity. So let's see. You know, let the investigation finish and what details they come out if they come out with hard facts, you know, come from blockchain analytics and so forth, then we'll go from there. But as of right now, this is just hearsay, right? We don't have any hard facts here. Now, one of the things that one user on Twitter said, he has a large following, his name is Yudi Werthammer. He highlighted that Israel just earlier this month, freeze the Barclays bank account linked to Hamas fundraising. So does that mean we ban Barclays and bank accounts? Of course not, right? We have to stop the bad actors. It's not the technology or the platform or the medium of exchange. It's the bad actors. Now, really great news is that we had some senators come out and call out Elizabeth Warren on her lies, as well as the Wall Street Journal on their lies. So Senator Hagerty cites this source saying Wall Street Journal terror funding estimates with Bitcoin may be off as much as 99%. So great that the facts are making its way through the different members of Congress who can then highlight that, right? Obviously, the nefarious actors like Elizabeth Warren, Brad Sherman, and these folks, they will continue to lie and we got to put pressure on them. We have to keep spreading the facts so that we break down their false misinformation, their false narratives and so forth. And one person who was trying to continue spreading the lies is Senator John Fetterman out of Pennsylvania. So he was trying to ask the witness about why didn't Hamas use credit cards, trying to allude to why did they use crypto? But I don't think he was expecting this. He got shot down right away because the witness said, hey, they use credit cards, they use bank accounts, they use crypto. But they ramped down their crypto and crypto is a very small part, but they use the other means of exchanges. And as I showed, Israel actually shut down a Barclays bank account they were using. So these guys, I'm actually disappointed in Senator John Fetterman. He's following the lies and drinking Elizabeth Warren's Kool -Aid, but that's not going to end well for him. Elizabeth Warren is a clown, liar, corrupt, and she's going to get exposed because they could have done this before social media and the Internet and it's hard to fight back. But now everything lives on the Internet. So your lies, if you said something a lie a year ago, it stays on the Internet and we can bring it back up so and we can crowdsource and drum up a lot of noise. So they're not on the winning side of history here. Now here's what Ryan Selkis, founder and CEO of Masari, had to say regarding Fetterman as well as Elizabeth Warren. He said, in addition to Brown and Tester in their final years in office, Senate banking Democrats are full of rock stars. He's being sarcastic. Number one, bumbling pumpkin in basketball shorts, Fetterman. Number two, indicted foreign agent and gold bar, Maxie Menendez talking about Bob Menendez and one, 164 Cherokee and SPF family friend, Elizabeth Warren. What a sad joke. He said, these are the people who the media would have you believe are the adults in the room. They pose an actual credible risk to the crypto industry in the US because corruption and incompetence is rampant in DC.
A highlight from ELIZABETH WARREN CRYPTO FUD EXPOSED! BIG SEC COINBASE LAWSUIT UPDATE
"Welcome to the Thinking Crypto Podcast, your home for cryptocurrency news and interviews. If you are new here, please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify, Apple or Google, please leave a five star rating and review. It supports the podcast and it doesn't cost you anything. Well, folks, we've got some huge news around Elizabeth Warren and the crypto fudge she's been spreading about Hamas and other terrorists using crypto to fundraise. Well, folks, Elliptic, which is the firm that Wall Street Journal cited for their data used in the article entitled Hamas militants behind Israel attack raise millions in crypto and which Senator Elizabeth Warren used in her recent letter to top security officials, says there is no evidence to support the assertion that Hamas has received significant volumes of crypto donations. They also say they have engaged with the Wall Street Journal and Senator Elizabeth Warren's office to correct the misinterpretations and ensure that the relevant parties have a proper appreciation of the complexities and nuances of analyzing these wallets. Folks, this is a huge update. Now, call to action. I need every single one of you listening. Go to Twitter, retweet this news, get it out there. We have to spread the facts. We have to expose corrupt Elizabeth Warren, who has formed an anti -crypto army, as she said, and is using lies, false information and nefarious activities to try to destroy crypto, folks. And we know she's working with Gary Gensler to do this. And the two of them, along with Brad Sherman, are three peas in a pod. Folks, you have social media. We see the pressure that we're putting on these companies and mainstream media because our voices can be heard, because we can drum up so much attention on these social media platforms like Twitter or X, as it's called now, or YouTube or Facebook. We have power now. And it doesn't cost you anything to tweet out something or post something. So please go and tweet this news out. If you hold crypto, it's your duty, folks, because you have these people who are using any type of illegal and the spreading of misinformation to try to kill crypto. You have to take action. So that's one thing. Second, clear as day, Senator Elizabeth Warren is corrupt. I know there's mainstream issues that a lot of people agree with her on. But folks, she's a corrupt politician. She tries to paint herself as some angel and she's a nice grandma. I don't know if she's Pocahontas or whatever. She has some Native American background and all that stuff. It's all facade. I want you to know that, folks, you're not dealing with someone here who's a grandma who lives next door, who may be a nice lady. That's not what you're dealing with here. And I want to open your eyes because I used to think that she was a good person. She's not. And it's only through crypto, Twitter and all the news and facts that have been shared by different people that I'm like, wow, this person is pretty corrupt and clear as day. She's using false information. Now, the question is, will she go out and retract this letter? Will she make an apology? Right. That's a big question. Will The Wall Street Journal retract their article? Because right now, I think on Twitter, the author is trying to cover his tracks and not retract and not own up to his mistakes. So we are dealing with liars here, folks, and we have to use social media to our advantage. So a lot of people are tweeting about this. And let me give you some quick takeaways, some elliptic. They published the corrections. Here are some takeaways from their own websites. There is no evidence to support the assertion that Hamas has received significant volumes of crypto donations. A full understanding of block chain analysis and the context of any analysis is needed when using these insights to draw conclusions. The elliptic has engaged with The Wall Street Journal to correct misinterpretations of the level of crypto funding by Hamas. In addition, we have been in discussions with the office of Senator Warren to ensure that relevant parties have a proper appreciation of the complexities and nuances of analyzing these wallets. So I appreciate this company coming out and the headline on their website is setting the record straight on crypto crowdfunding by Hamas. Folks, the facts are Hamas has used fiat currency and other terrorists have used fiat currencies for the most part throughout history. Right. To fund their activities, crypto came along. They attempted to use crypto. I'm not saying they haven't used crypto. They attempted to. But what we saw, what the data tells us is that they ramped down in using crypto because they were getting exposed. Everything was being tracked on the block chain. So if somebody in Iran or some other country funded Hamas or terrorists on the block chain, they send Bitcoin, Tether, whatever it is, right? Ethereum, that wallet got tracked. The funds got tracked and the people who send the donations got exposed. Not a good way to fund your bad actor activities. Right, folks? Those are the facts. So that got ramped down based on the data, not opinion, not feelings or emotions, not lies, but on the chain analysis data, tracking how much funds are being sent. But guess what? We can't even tell how much fiat currency U .S. dollars or any other fiat currency was used to fund Hamas. Right. There's rumors that money that was sent to Iran was used to fund Hamas, but we can't track it because cash is hard to track. And we know primarily they've used cash. But Elizabeth Warren doesn't want you to know that she wants you to think crypto funded the whole shebang. Right. Crypto was the reason terrorists has been going. Terrorism has been going on for years and years for the last 50, 60 years. Right. When crypto didn't exist. That's the nonsense we're dealing with. Now, you and I who are educated about the situation, we know this is bullshit from Elizabeth Warren, but to the public who is not knee deep in crypto following the news, they just see passing headlines. They may see a tweet from Elizabeth Warren and they get the wrong perception. Folks, we got to change that. We got to put the pressure and we have social media to do that. Now, Brian Armstrong, CEO of Coinbase, said this is crazy and inaccurate Wall Street Journal articles citing evidence from Elliptic caused 20 percent of Congress to sign a letter. Elliptic has now refuted the evidence in the Wall Street Journal article. He tagged the Wall Street Journal saying, will you issue a retraction slash correction? And we see the author. He's he's still trying to stand on his high ground here, but he doesn't have high ground. He's a liar. His name is Ian Talley. And here, Ryan Selkis said the following. He's the CEO of Masari Elliptic confirmed what we learned from chain analysis earlier this week. Crypto is about as useful to Hamas as Elizabeth Warren is to the Cherokee Nation.
A highlight from SEC WON'T APPEAL GRAYSCALE BITCOIN ETF RULING & CALIFORNIA PASSES CRYPTO REGULATION!
"Welcome back to the thinking crypto podcast, your home for cryptocurrency news and interviews. If you are new here, please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify, Apple or Google, please leave a five star rating and review. It supports the podcast and it doesn't cost you anything. Well, folks, I want to start off by talking about the grayscale SEC Bitcoin ETF situation. Yesterday, Friday, October 13 was the deadline for the SEC to appeal the court's ruling in the grayscale case. Now, we know the three judges destroyed scumbag regulator Gary Gensler and the SEC calling their denial of the grayscale Bitcoin spot ETF as arbitrary and capricious. But what can you expect? We're dealing with a scumbag corrupt regulator that is Gary Gensler, who is on puppet strings being controlled by Elizabeth Warren and the Wall Street incumbents who want to destroy crypto startups like grayscale, Coinbase, Ripple and others so that they can come in and take over the market. So the fact that the SEC did not appeal and we're past the deadline, obviously, is a good sign. It's bullish. It means the SEC does not see a way to win this. They are pretty much kowtowing here, right, which they have to the courts are ruling here. And even the folks at Bloomberg, James Safert, who I've had on the podcast, said, look, it's being reported here and confirmed by Bloomberg News that the SEC won't ask the court to reverse its decision on the Bitcoin spot ETF as it relates to grayscale. So what's going to happen next? It's going to be the SEC and grayscale are going to have their conversation started where they're going to discuss, I guess, how they're going to approve this and what else grayscale needs to do. Obviously, we're all waiting for this Bitcoin spot ETF approval to happen. I think the SEC is going to approve multiple at the same time. If they were to approve the BlackRock ETF ahead of everybody else, you know the game is completely rigged. We have some sense it is rigged, but if they do that, it will be really blatant. So I think they're going to approve multiple at the same time. However, this is my opinion. Look, we got world conflict happening. We still got inflation. We still got the Fed raising rates. Liquidity is low. We're still in the quantitative tightening cycle. I don't think now is a good time for this ETF to be approved, honestly. I think next year when things calm down, maybe near the Bitcoin halving would be a good time. The conflict ramps down, dies down. People are not as focused on it. Just normal human life and things go back to normal to a certain degree. Maybe the Fed is ramping down rate hikes or they have paused completely. They start QE. Liquidity is blowing back in. I think that will be the ideal scenario, but we'll see what happens. Maybe I'm wrong and they approve it sometime this quarter and maybe it does well, but we'll see what happens. The one thing I want you all to expect though, there's not going to be capital flowing in overnight into these ETFs. I think they have to be fully, the groundwork has to be set up. The marketing has to be there. Once again, people essentially wouldn't want to be focused on investing. Right now, people are not really focused on investing. I'm talking about the general public. Just keep that in mind. Now, speaking of the SEC, we have an update here as it relates to Coinbase versus the SEC. Paul Grewal, chief legal officer at Coinbase given updates on their response to the third circuit and it says here the TLDR, the SEC's unilluminating update is mere bureaucratic pantomime and confirms that nothing short of mandamus will prompt the agency to take its obligations seriously. We respectfully request an order to the SEC to act on Coinbase's rulemaking petition within 30 days. We appreciate the court's careful consideration of this matter. So remember the SEC filed their response and it was a bullshit letter. It pretty much was nothing in it. It was just a delay tactic. So I appreciate Coinbase putting the pressure. That's what we got to do. And we saw the judge already in these cases with Coinbase versus SEC is calling out the SEC saying like, what are you guys doing? What's a security? What's not a security? You approved Coinbase to go public. You knew what their business was. So what are you doing now? It's not like they're charging fraud on Coinbase. They're just saying you're selling unregistered securities, yet they won't say what is a security and what's not. Even the scumbag regulator, Gary Gensler, before Congress, can't even answer what's a security and what's not. It's ridiculous. We're dealing with a government agency that is funded by our tax dollars that doesn't abide by the law, that are hypocrites and liars. Even Judge Sarah Netburn in the Ripple lawsuit said the SEC lacks a fateful allegiance to the law. It's pathetic. But we got to keep putting the pressure on this corrupt scumbag bureaucrat and he will be exposed. He lost in the Ripple case. He lost in the Grayscale case. And I believe they're going to lose here with Coinbase. So I appreciate Coinbase, you know, putting the pressure and we got to keep doing the same thing. Contact our representatives, share the facts on social media and expose these lies. Now some good news, folks. And this involves Governor Gavin Newsom out of California. Now, whether you love Gavin Newsom or you hate Gavin Newsom, that is one thing. Let's put it to the side. That's a whole other conversation. But folks, California, they passed a crypto licensing bill, which is really good, folks. Gavin Newsom signed this yesterday. So here's the headline. Governor Newsom signs crypto licensing bill in California. Governor Gavin Newsom on Friday signed into law a measure that would regulate California's crypto industry, home to nearly a quarter of the blockchain companies in North America. This is being reported by Bloomberg Law. But I'm going to jump to another article here, which gives the full details because Bloomberg wants me to pay to read, which is annoying. So according to the report by Bloomberg Law, this first law aims to establish basic regulations for crypto companies operating in California, making them obtain state licenses and meet specific requirements related to reserves, disclosures and audits. The law also covers assets backed crypto currencies like USDC and USDT, so stable coins, making it mandatory for them to keep complete reserves, which would impact algorithmic stable coins that rely on different mechanisms to maintain their pegs. This crypto regulation bill was passed in August 2023, a year after Governor Gavin Newsom vetoed a prior version of the crypto bill stating that California needed a more flexible approach. So, folks, this is great, great news. It is logical, reasonable things. There's no overreach here. If you are a centralized exchange or a stable coin issuer, you have to have your reserves. You have to provide audits. You have to make sure you're abiding by the laws. We don't want any more FTX or Celsius things, no commingling, no lying, no pulling customer funds to go trade it, right? Like these idiots, Caroline Ellison and Sam Bankman Fried and even a scammer, Alex Mashinsky. No more of that nonsense. The industry needs to raise its standards. All exchanges decentralized need to be audited, whether it be monthly reporting or quarterly reporting it, sending it to the licensed agencies in the States and it's being reviewed, right? I think we can all agree with that. You can be a very pro -crypto person, very much into decentralized exchanges and defies, but we can't ignore that there's going to be centralized entities in the market. They need to abide by the law. They have to follow these best practices. We can't have what happened last year happen again. That was ridiculous, right? So this is a great move, great bill. And it's sad that the States have to do this and the federal government is not doing it, right? But the good thing here is that the States moving ahead will force the hand of the federal government because it's not just California. It's Wyoming, it's Texas, it's New York and many more are passing comprehensive regulations. So this is a really great move, really happy to hear about this. And obviously there's a lot of crypto companies in California, some like Ripple and others. So really, really big crypto regulation bill here, folks. And here's what Tim Grayson, who is an assembly member in California, tweeted out. He said, today, California is taking the necessary step to regulate a market that is volatile risky and in some cases deliberately rigged against everyday consumers. Thank you to Governor Newsom for helping ensure that our state leads in fostering responsible innovation. Folks, this is huge, huge, huge, huge. I can't, once again, I'm not endorsing Gavin Newsom here, so please, please don't get me wrong because California has a whole lot of problems and other things happening. But as it relates to crypto, this is a really great move. And I think game theory is going to play out. Other states are going to follow suit and follow the direction of California, which is one of the largest states, folks. So a move in the right direction. Now I want to highlight a great, responsible and safe exchange that is Uphold, which is a sponsor of this podcast. I've been a user of Uphold since 2018, so I can vouch for this platform. I've interviewed the CEO, the CFO and many folks over the years. They have 10 plus million users, 250 plus cryptocurrencies, and they're available in 150 countries. You can also trade 37 fiat currencies and precious metals on this platform and easily switch between crypto, fiat and precious metals. It's pretty cool. It's a unique platform. And once again, I can vouch for it because I use it. I use it for trading and much more. So if you'd like to learn more about Uphold, please visit the link in the description. Now, folks, as we're talking about crypto regulations, we know Elizabeth Warren has her anti -crypto army. She's corrupt. She's, you know, three peas in a pod with Gary Gensler and Brad Sherman. We know she's been doing all kinds of nonsense. Well, there's news coming out here. Ryan Selkis said rumor is John Donenberg, Liz Warren's COS, is heading to the White House to replace Bharat Ramamurti. Bharat responsible was for making the admins deep crypto hostility. So talking about the Biden admin, some in D .C. told me to wait and see Biden soften with Bharat gone. If Donenberg is in, that won't happen. So we'll see. Here's what Caitlin Long, who's battling the Fed right now, said. She said, yes, as Novogratz, Mike Novogratz said, Senator Warren is driving the Biden administration's bus on crypto policy. Biden cut that deal with her long ago. And that's why she gets to a place or gets to place her people at the White House in key agency positions. This was an open secret in D .C. And it's now no longer a secret. P .S., where is the press on Biden's Warren deal to let her pick White House economic staff and financial services appointees? This has been an open secret pretty much since Operation Choke Point 2 .0 began in January. And I haven't seen it reported yet. Any ideas? Ryan Selkis and Nick Carter, she said, and Novogratz, I think you said in an interview on stage at Mainnet that Warren's senior staff didn't agree with her. Let's hope John is among those you are alluding to now that he's at the White House. Folks, we shall see what happens. My hope is that Biden overall losing popularity and with different things economically and, you know, Elizabeth Warren going crazy over crypto and the industry fighting back and Gary Gensler taking losses in court, you know, take some wind out of her sales. It's Senator Elizabeth's sales here and take some power away from her. And maybe the people Biden has around him, you know, who are anti -crypto get kicked out. You know, we can see next year is a election year. So we'll see what happens. Maybe things soften up. The Bitcoin spot ETF gets approved. You know, I think we're moving maybe out of the eye of the storm with this operation choke point. We'll see. You know, I think the court law losses for Gary Gensler really help the causes here. Even with Caitlin Long, the court denied the Fed's request to throw out her lawsuit against them. So the lawsuit is proceeding. It's going to discovery. So these anti -crypto people are getting exposed. And, you know, we hope Elizabeth Warren, her corrupt ass gets exposed as well. Now, the IRS is also putting out some crypto tax rules, which the industry are trying to push back on. So here's the headline. Coinbase tax had calls on IRS to revise crypto tax rules. The IRS is proposed tax rules hinder digital asset growth by exposing restrictions that question their utility. Coinbase is VP of tax wrote Thursday. So great to see the industry is pushing back in a letter disclosed on Thursday. Lawrence Zlakten, if I'm saying that right, a Coinbase's vice president of tax criticized the proposed regulations for imposing an unprecedented, unchecked and unlimited tracking on the daily lives of Americans. In August, the IRS issued a 300 page proposal that revises the definition of a broker in accordance with the Infrastructure Investment and Jobs Act, including crypto exchanges, which provides guidelines on tax compliance for both the brokers and their clients. Now, many of you may recall the infrastructure bill situation with this, and we're still fighting this. So I'm glad the industry is pushing back. And, you know, these things are not set in stone fully yet. So we have an opportunity to push back and we're seeing more pro crypto governors and congressmen and lawmakers and so forth, even presidential candidates. So we got to keep pushing. We got to keep fighting. And, you know, where we need to rally and call up our representatives and send letters and emails and tweet and whatever we got to do, we will do that. But good to see that folks at Coinbase are pushing back. Now, we've got news here that Taurus expands crypto footprint after Deutsche Bank linked up. So the crypto infrastructure firm Taurus that partnered with Deutsche Bank last month is set to announce more large partnerships with banks soon, exec says. Now, I remember recently Deutsche Bank said they were going to launch crypto custody and they were they're doing this with Taurus. So Switzerland based Taurus, which offers infrastructure to issue custody and trade crypto tokenized assets and NFTs is opening offices in London and Paris. The firm says it expects more of the region's banks listen to this folks to wade into the crypto space as the regulatory environment becomes more clear. Folks, that's music to my ears. And they're talking about the EU here, right? Because both the EU and the UK have passed crypto regulations. Now, if only we could have that in the United States. Right. Where where are the members of Congress? Where's the federal government on this? So the expansion is part of a bid to better serve institutions that will soon have to comply with the Markets and Crypto Assets Regulation, the MICA law, the European Union Parliament passed the framework in April with implementation expected next year. So great, great news, folks. Very bullish. And let me give you some more details. So Jurgen Hoffbauer from saying that right previously towards his global head of strategic partnerships will lead the London office. He spent more than 10 years at Bank of America, where he served as head of sales for Europe and Middle East and Africa. Folks, a lot of the legacy banking TradFi folks are coming to crypto and they're helping to build out the crypto infrastructure for institutions. And of course, you know, they know there's money to be made here. They know this is the future and they're doing it. And this is why we have to be patient. This is why we dollar cost average. We study the market cycles. We look at what these big players are doing, not what they're saying, but what they're doing. And we are positioning ourselves to take profits as the value of our tokens rise. Right, folks? So we have to exercise patience. Taurus raised 65 million dollars in a February funding round led by Credit Suisse. Deutsche Bank also took part in that round and German megabank linked up with Taurus last month to build out their digital asset custody and tokenization services. Wow, folks, I hope you see what's happening here. And this thing is global. It's not specific to United States. So while Elizabeth Warren acts the fool with the clown Gary Gensler here and delaying and causing all kinds of nonsense, the rest of the world is moving forward. And the great thing about this market, it's borderless. You can be in any part of the world. I've said many times you have a smartphone, you have Internet access and you can be part of the asset class. You can buy a fraction of Bitcoin, Ethereum, XRP, whatever it is. You can put as little as 10 bucks in each. Right. And you are part of the asset class. And that's something they cannot stop. They would love to. They would love to gate keep it like they have historically and put the borders and say, oh, you have to go through Wall Street and you have to be an accredited investor. Right. They would love to stop that so they can control it. That's why they're fighting so hard. That's why this corrupt Elizabeth Warren. This is a big thing for her. That's why Gary Gensler is doing all the things he's doing. They want to control it, but they can't. The disruption is at their doorstep. They can't stop this thing. They're going to put up roadblocks. Don't get me wrong. Like they're doing, they're slowing us down to causing a bit of confusion. But this train has left the station. They ain't going to stop it. Now, got some news here that Texas County settles lawsuit over wrongful seizure of fifteen thousand dollars from Bitcoin ATM. The lawsuit also aimed to have the court recognize Bitcoin Depot as the lawful owner of the seized money. So I've interviewed the CEO of Bitcoin Depot and this is an interesting case here. So authorities in McClellan County have settled a lawsuit with Lux Vending operating as Bitcoin Depot following the wrongful seizure of fifteen thousand dollars from one of its Bitcoin ATMs. The lawsuit was dismissed after the county acknowledged the funds were improperly confiscating following a scam that targeted an 82 year old Crawford woman. Local media reported Thursday the scam was reported by the elderly victim who was deceived into withdrawing fifteen thousand dollars in cash and depositing it into a Bitcoin machine. This reportedly followed her falling victim to a ransomware attack initiated by a malicious email link. Legal action had originally been filed against the county investigators for allegedly violating due process. They had obtained a warrant to seize the funds from Bitcoin Depot kiosk located at a court recognized Bitcoin Depot as a as the lawful owner of the of the seized money. McClellan County Sheriff Parnell McNamara, who had previously stood by his the actions of his officers, declined to comment on the lawsuit's resolution or on Judge Scott Felton's admission that the funds had been seized erroneously. KWTX News reported. So interesting case happening here. And, you know, one of the layers here I want to highlight is that crypto is becoming a big part of society in the mainstream and the average everyday things that may occur, whether it be crime, whether it be just different things in life. Right. That happens that we don't control or had nothing necessarily to do with crypto that it's popping up in cases and all forms of regulations and law now need to be developed around it. So that's a great sign of adoption. I'm not saying what happened to this lady is a great right. Obviously, that's another issue with malware and scammers and elder abuse and all these things. But in the sense of adoption and this being part of the society, just as the Internet became part of a society and there were bad things that followed that, but obviously a lot of great things. Right. Same thing is happening here. So it's pretty, pretty interesting. I like to look at these things from a psychological macro societal human behavior standpoint, because it also tells a story of the direction we're headed. And are people moving away from this or are they adopting it? Is it becoming more prominent in our daily lives? And I think we're seeing that for crypto and block chain. Now, I just want to end it here by highlighting one of the partners of the podcast that I and it's a platform I use, Merlin, which allows you to track your crypto exit strategy in a very easy and safe way. Merlin allows you to tie in all your exchanges and ledger data. It does not capture your seed phrases or anything like that. It simply just takes a snapshot of your account and allows you to set your exit strategy. Which price points? I've been doing stuff like this on spreadsheets. It's super tedious and manual. And I've always been looking for some sort of solution. And Merlin is that solution, folks. So I'll be using this for the next bull market. So let's say for my XRP or Ethereum or Bitcoin, I'll set certain price points. Hey, I want to take 30 percent of my chain link or XRP at this price and I can set it in the Apple. Let me know right away, folks, on which exchange it hit that price and I can go right away and execute accordingly. So this is something that will make your life easy and you don't have to be constantly refreshing on coin market cap or, you know, going back and forth between a spreadsheet. So this is one of the reasons I'm highlighting it as a partner, because I'm using this platform and it's great. It's easy, it's safe and that you can plug in, uphold, you can plug in ledger, Coinbase, whatever it is. It is a great platform, folks. So be sure to check out Merlin. Link will be in the description. Go check it out. You can get a 30 day free trial, see if you like it and go from there. Thank you all for listening. Thank you for your support. Hit the thumbs up button, hit the five star rating on the podcast platform and I'll talk to you all later.
Monitor Show 13:00 10-05-2023 13:00
"The United States Border Patrol has exciting and rewarding career opportunities with the nation's largest law enforcement organization. Earn great pay with outstanding federal benefits and up to $20 ,000 in recruitment incentives. Learn more online at CBP .gov slash careers slash USBP. Big movements down in oil just in the last couple of days on some supply concerns. Sound on with Joe Matthew from Washington DC. He's got it all. That starts right now. Budget deficits in Washington. We're in a bizarro political world here. Bloomberg sound on. Politics policy and perspective from DC's top names. Most people including most republicans in congress understand that we need to get aid to Ukraine. Who's going to take us in a rational way into the future and lead our country. This has really become kind of a new frontier in American politics is this battle between red states and blue cities. Bloomberg sound on with Joe Matthew on Bloomberg radio. Day three with no permanent speaker of the house and 43 days to a possible government shutdown. Welcome to the fastest show in politics as the race for speaker gets underway in earnest but the debate over funding the government is on ice because of all of this. We're joined ahead by congressman Brad Sherman. The democrat from California serves on financial services as well as the foreign affairs committees and join those voting to remove Kevin McCarthy this week. He'll be with us in just a moment. New fundraising numbers out from the republican campaign trail. Donald Trump out raising Ronda.
A highlight from Congressional Republicans Lash Out At Gensler
"And at the end of it all, after dealing with several more non -answers from Gensler, an exasperated ogles closed the hearing with the call to open up the floodgates, hit him with subpoenas, get the information we need. The obfuscation, the not answering questions, I'm sick and tired of it. Dude, you wear tap dancing shoes better than Fred Astaire and enough is enough. It's time that questions are answered and that we have the information that we need. Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. What's going on, guys? It is Thursday, September 28th, and today we are talking about Gensler's combative hearing. Before we get into that, however, if you are enjoying The Breakdown, please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the conversation, come join us on The Breakers Discord. You can find a link in the show notes or go to bit .ly slash breakdown pod. Well, friends, we had yesterday another hearing featuring SEC Chair Gary Gensler. This was a House Financial Services Committee oversight hearing. And what makes this one a little bit more interesting, even in the Senate hearing that we heard last week, is one, it had some interesting lead -in in the fact that a bipartisan group had just sent Gary Gensler a letter encouraging him, in the strongest possible language, to approve a Bitcoin spot ETF. And two, it had the setup for some very interesting fireworks heading in. And indeed, that is exactly what we got. Committee Chairman Patrick McHenry set the agenda from the beginning with his opening remarks. He addressed Gensler saying, Last time you were before the committee, I voiced my concerns regarding your reckless approach to rulemaking, lack of capital formation agenda, crusade against the digital asset ecosystem, and unresponsiveness to Congress. So many things changed, so many things remain the same. Those are the same issues on the docket today. McHenry went on to accuse Gensler of doing nothing over the past five months to remedy the legitimate and often bipartisan concern expressed by this committee, adding that this is disgraceful and that their patience was wearing thin. Now, the Republican critique of Gensler's rulemaking agenda is that a huge number of rules have been proposed during his term without an economic analysis being performed on their cumulative effect. Regarding the crypto crackdown, McHenry rebuffed Gensler's constant assertion that the law is clear. He stated, your actions have created more confusion and lasting damage. Indeed, he said that contrary to the SEC's role of consumer protection, that Gensler's actions had, quote, pushed legitimate digital asset activities outside of regulated financial institutions where consumers are best protected. Keep in mind, this is all in the opening statements. McHenry went on noting that the SEC's regulation by enforcement agenda has been ineffective and has been on a massive losing streak in the courts. Still, the main point, the main thrust of McHenry's opening, was that it was unacceptable that the SEC had not engaged with Congress. Wrapping it up, McHenry said, the SEC is not above the law, nor is it unique. I do not want to be the first chairman of this committee to issue a subpoena to the SEC, and you should not want to be the first SEC chair to receive a congressional subpoena. Either we find a path forward where the SEC recognizes Congress as a co -equal branch of government and is responsive to our oversight duties, or my option is to issue that subpoena. It's time for you to consider the lasting consequences of your actions and what that means to the SEC's reputation long -term. While your time in this role may be temporary, the repercussions for your actions may be permanent for the agency. It was a fierce opening that sent the signal right away of what we were in store for. Now, a couple other quick notes around other opening statements. Democrat Ranking Member Maxine Waters used her time to rail against MAGA Republicans for pushing the government into a shutdown, and effectively defended the SEC's agenda on all fronts, and asserted that their rulemaking agenda was moving quote thoughtfully and effectively. Now, Gensler himself also got a chance to give an opening statement, and most of his time was spent on justifying the agency's regulatory agenda. He claimed overall that the rulemaking process had been measured with ample time and consideration given to public comment. Now, from there we moved into the question section of the hearing. McHenry as committee chair got to go first and used his questions to focus on Bitcoin. He asked Gensler whether he stood by his previous comments that Bitcoin is not a security, which Gensler evaded by talking in circles, never reaching a point. Notably frustrated by this process, McHenry snapped, I'm asking you to answer my question now. This is not supposed to be hard. Unable to get a straight answer, McHenry moved on to his point that there is currently no regulator with authority over Bitcoin's spot markets. He asked whether Gensler believed legislation should be passed to close that regulatory gap. To the surprise of no one, Gensler continued in his noncommittal manner, acknowledging the existence of said gap but failing to engage with the need for legislation. After that, McHenry left the crypto topic to press Gensler about when he can expect a response to document requests. Becoming ever more frustrated with Gensler's mealy -mouthed answers, McHenry said, This should not be the hard work of a chairman. You have 30 major rulemakings, but you won't even provide basic documents to us. Your unresponsiveness is non -compliance and we'll have to take action if you're not willing to comply. Now Maxine waters again as ranking minority member got to speak next. She, too, continued on the crypto theme, although she used her time to accuse the industry writ large of quote gross violations of the law that end in investors getting ripped off. She asked Gensler what the SEC has done to quote shut down crypto firms and whether quote crypto firms are getting the message. This, of course, mainly served to set up Gensler's usual sound bites. This is a field, he said, that's rife with fraud, manipulation and scams, and the American public is still getting hurt by the non -compliance in this field. Waters also used this chance to castigate Republicans who quote too often protect crypto firms. Now it was very clear listening to Waters that she wants the public to see the crypto industry as just Luna and FTX, to extrapolate them to everything and effectively shut the industry down. Now moving into the rest of the questioning, much of the substantive discussion centered on SEC staff accounting bulletin 121. Better known as SAB 121, this measure requires financial institutions to place intangible assets on their own balance sheet rather than in segregated customer accounts. The rule has been widely criticized for making crypto custody essentially unworkable for banks. Dissatisfaction was expressed from numerous representatives, including one of Gensler's usual allies, Brad Sherman. Sherman noted that the rule lumps all intangible assets together from real estate to crypto. He suggested that specifically designed rules for vastly different asset classes would be more appropriate. The most robust questioning on this topic, however, came from Republican Mike Flood. Flood put to Gensler that his staff did not consult with prudential regulators on SAB 121, which Gensler acknowledged. After stating that he had personally looked into this issue, Flood noted that the Accounting Standards Board had not published any guidance around crypto custody. This contradicted Gensler's comments from a previous hearing when he stated that the SEC was simply applying existing accounting rules. Flood said quote, With regard to SAB 121's potential effects on a bank's balance sheet, it's fair to say that fact pattern we have is that the SEC is not just going out of its lane, but it failed to comprehend the existence of any conflict with prudential rules. He suggested that there are only two explanations for this action. Either the SEC knew there was no justification for SAB 121 and chose to do it anyway, or that there were fairly obvious mistakes made during that process. Flood concluded saying quote, The case of SAB 121 raises the question of whether the SEC is compromised. Now, as you might expect, minority whip Tom Emmer lined up to take his shot with a series of rapid -fire yes or no questions. The main thrust of his questioning was around whether Gensler's history as a partner at Goldman Sachs had colored his agenda at the SEC. To get a sense of Emmer's opinion on this, just look at his tweet from yesterday where he said, Fact, Gary Gensler is not an impartial regulator, and his answers to my questions today prove just that. He's made a career of being relentlessly loyal to the largest institutions in America at the clear expense of innovation, competition, and everyday Americans. One example, Emmer presented Gensler with a quote he previously gave about bank executives being concerned about depositors moving money into crypto. Emmer asked, Can you assure this committee that your style of regulation by harassment towards digital asset innovation is to the benefit of every American and not driven by your desire to protect industry incumbents? At another point, Emmer asked whether Gensler believed that all crypto tokens were securities, which was, once again, avoided with a rambling noncommittal answer. And all of this built up to the big finale in which Emmer said, Mr. Gensler, despite your years of rhetoric, I'm convinced you are not an impartial regulator. Instead, it's clear you are working to consolidate your own power even though it means crushing opportunities for everyday Americans and, frankly, the financial future of this country. Even the federal courts are highlighting the damage you, sir, are doing to our constituents and they are telling you you don't have the legal authority to accomplish your goal of squashing competition in the financial markets. Now, while this was extremely satisfying to watch if you happen to agree with Emmer, in general, I find that this type of interaction is exactly why these hearings are so much about and not really about productive anything. This was a chance to articulate the Republican position against Gary Gensler. There's no real place for listening. It's about laying out a narrative. Now, in this case, I happen to agree with Emmer's narrative, but it still doesn't make for the most effective governance. Another notable line of questioning came from Democrat Richie Torres. Torres used his time to dig into the issue of whether crypto should be governed by securities law. He said, I worry that the term investment contract has become so infinitely malleable and I worry that when it comes to crypto, your interpretation of the term investment contract has no limiting principle and therefore could invite arbitrary and capricious enforcement action. Torres referenced an August report from six law professors which examined the history of the Howey test. That report had noted that no Supreme Court ruling has ever determined the existence of an investment contract scheme without recognizing one or more contracts underlying that scheme. When pushed to provide a case that contradicts this research, Gensler was unable to do so. When Gensler began to waffle, Torres cut him off, stating that, This is a question to which you should know the answer because the definition of an investment contract is the central issue. That's what determines the extent of your authority. That's what determines the applicability of federal securities law to crypto transactions. Your inability to answer that question is baffling to me. Switching tactics, Torres asked whether purchasing a Pokémon card would constitute a securities transaction. Gensler, as always, was unable to give a straight answer, stating that he would know what the context was, although generally he acknowledged that it would not be. Torres followed up by asking whether purchasing a tokenized Pokémon card would be considered a securities transaction. He asked Gensler if, For you, the process of tokenization is what transforms a non -securities transaction into a securities transaction? Gensler, of course, did not get to a real answer and just fell back on restating the elements of the Howey test. One other topic that you might be wondering if it came up was the Prometheum question. Prometheum was, of course, the first crypto firm to obtain SEC registration as a crypto brokerage, despite the fact that that licensing seems to give them no ability to actually offer digital asset trading. Prometheum is also minority -owned by a prominent Chinese firm. After Gensler failed to express any serious concern with the Prometheum situation, Congressman Ralph Norman noted that the SEC had taken 10 weeks to respond to a letter on the issue. He said, Andy Ogles brought the four -hour hearing full circle, saying, And at the end of it all, after dealing with several more non -answers from Gensler, an exasperated Ogles closed the hearing with the call to, So, what can be drawn from this hearing, if anything? Well, Gensler appears to be stubbornly sticking to his plan to evade document requests and oversight from Republican representatives. Over the four -hour hearing, there were few, if any, answers from Gensler that produced any new information or even, frankly, attempted good -faith engagement with the questions. Throughout the hearing, Gensler acted as if he knew there would be no serious repercussions and he could continue to treat congressional oversight as a joke. Republicans, for their part, are clearly fed up and ready to act. McHenry began and ended the hearing with a threat to subpoena the SEC and Gensler to compel a response to the numerous document requests that have gone unanswered. The threat seemed to carry little weight for Gensler, who seemed more than willing to allow that controversial action to play out. Now, on the flip side, establishment Democrats appear entirely disengaged with the legislative process and committed to the current strategy of naming failed crypto projects and demanding that the SEC continue its rampage throughout the industry. No senior Democrats appear at all concerned that the SEC is losing in court, as long as that litigation remains a roadblock for the industry. Representative Torres remained a bright spot and one of the few Democrats breaking with his senior colleagues. His questions showed a deep understanding of the legal issues surrounding token lawsuits and the need for additional clarity and crypto regulation. Overall, the hearing really just confirmed what we already knew about Gensler and his leadership of the SEC, which is, of course, that it seems very unlikely that anything will change. However, Republicans have now clearly reached the end of their rope and are ready to play hardball by using subpoena power. As Bill Huizenga put it to Gensler, what's your plan? Because we've got a plan. Until next time, guys, be safe and take care of each other. Peace.
A highlight from Pack Wisely, Hunt Confidently: A Two-Part Series with Mike Kentner and David Merrell
"This episode of RadCast Outdoors is brought to you by P .K. Lures, Bow Spider, and High Mountain Seasonings. Fish on! Hey, RadCast is on! Hunting, fishing, and everything in between. This is RadCast Outdoors. Here are David Merrill and Patrick Edwards. Well hello and welcome everybody. Back to the RadCast Outdoors podcast. I'm David Merrill. We'll have to excuse Patrick Edwards today. He is traveling on the road and I am home between hunts for a momentary break in time. I actually was out trying to fill an elk tag this morning and was rather unsuccessful at filling a tag but had a great morning anyways. Fall is in the air guys. It's definitely time to get your gear, get out of the woods, and go enjoy it whether you're fishing, hunting, hiking, or backpacking. I've asked a former guest and another guest to come join us today. I've got Mr. Mike Kentner with me. Hello Mike. Hello. Glad to be here. Yeah, we were out looking for a few elk this morning and hiking around and I twisted his arm and said let's talk about what's in Mike's backpack. As you guys know I like to go hunting and over the years gear has changed dramatically from when I first started in the mid 90s and certainly from when you first started, right? Absolutely. In the early days we carried a fanny pack, nobody carried a backpack. Nobody had the idea Everly stock came out with I think to coin the phrase go in light come out heavy to be able to pack out when you went in. The early days we never did that. It's all kind of a newer concept in my world anyway. And I started in the scouting industry doing 50 milers and that kind of stuff so I had a pretty good grasp on what you should and what weight should be on how to navigate through the mountains. I had some orienteering, some compass, some basic survival under my belt, some first aid and some safety. But you have to put all that together and then you've got to start putting your backpack together and there is so many options now compared to when I first bought a $10 book bag from Walmart and put a few things in it and went hiking around saying man this and when we harvested stuff for the most part I threw a quarter on my shoulder and went hiking down the trail or I went and got horses or a dirt bike or a quad or a four wheeler but for the most part western style stuff it was I remember getting one of the very first real hunting backpacks I got was a fanny pack style. Yeah that's what we all started with back then we carried just the basic essentials maybe something to light a fire with, stuff to take care of your game if you put something down and then if you shot anything you walked all the way back to camp empty changed out for a metal frame and went back in for your meat. Yes and those metal frames have pretty much gone the wayside. A few guys still have them there's some companies making some really cool ones now and what you mean by metal is an external just a frame pack no bag attached nothing. It had a load shelf on it you set the shelf on tight most time they didn't have straps you had to use paracord or some kind of cord to tie your meat onto the pack. Now backpacks have obviously evolved the idea of backpack hunting has evolved and we're discussing a little bit today you know when I'm going on an expedition style Everest climb style hunt I'm taking a completely different kit than I am day hunting elk from the truck. Right everything down to I may use the same frame the same base frame but my bag load will be different I use a very small bag for my day hunts like today I use a 2800 inch bag for my day hunts and you go over a 6000 for a long hunt if you're going in for five or six days or more. Now day hunting what is your backpack in a way versus when the difference between a four day hunt and a ten day hunt you only have food difference you've got the same spotting scope the same shelter the same clothes for this kind of discussion a little bit we're basically going to talk day hunt or multi day now if you're talking four day or ten day that the only difference there is you're adding six extra days of food realistically same if I'm only going two nights then I might do something different but if I'm going for four to five nights I'm doing the same thing I would be doing if I'm doing ten to twelve nights. Yeah as far as your overnight gear still is pretty much the same. So that leads me to this first question is and I used to the first year or two elk hunting here in Wyoming I took my 7000 cubic inch bag just compressed it all the way down ran it empty and hunted with that but it stuck up so much higher than my head every time I duck under something I'm getting hung up so I switched to a 1850 Icon Pro from QU years ago I'm now running the Stryker XL from Kefaru that's my day bag and it's inch and then I throw a Sherman pocket and a guide lid and a claymore so now I'm like 3000 cubic inch but I don't have that completely full and we discuss this how full do you run your 2800 in day hunt mode? My day in day hunt mode is less than half full of what I pack and then I have plenty of room for jackets clothing depending on the weather any of that kind of stuff I'm gonna have in it but my base bag with my everything to take care of game and everything is less than halfway full. So some of the things that are in mind that I can think of is I always have a small first aid kit right nicks cuts scrapes burns some aspirin and then I have a kill kit usually involves I actually really like to use rubber gloves I grew up not doing it but when you're doing multi day multi hunt multi tags it's really nice to have a pair of rubber gloves to keep a little bit cleaner while you're processing but you definitely need those game bags I run six game bags how many do you run? Usually five I keep five in there for elk and big stuff it's always five and the reason guys I'm why running more than four quarter bags is well you've got neck meat back straps tenderloins I like to keep those two separate and what I've found is when we're doing either llamas or horses it's really easy even if we're backpacking and we've got to hang the meat away from bears I like to have all four of those quarters in their own bag and then I need two more for the rest of the stuff and sometimes I even like to grab another bag to put capes in. Yeah it's nice to have one for your cape if you're in the backcountry and you think you're going to have an animal mounted it's nice to have a cape a bag for your cape go as well so I usually carry like when I shot my bull this year I had six bags in me with me at the time so I have my five I primarily put meat in and then I have one backup one for the cape to bag it in so you need a good quality bags and quite a few of them. I don't typically pack water filtration in day hunt mode sometimes I like to run an algae and a bladder bag and I just fill that up in the morning and typically that's four liters of water I can pretty much make it through a day on that much water yeah I'm starting out a little heavier but I don't have to stop and pump during the day so do you what do you do for water in typical day hunt mode? I run bladder bags two liter bladder bags and so I usually run either one and a half or one liter and a two liter or two two liter bags so I'm running three to four liters and but I do carry the small Sawyer water filtration pretty much everywhere weighs under four ounces does about a pint at a time you got to refill the bag but it is a good way to get some extra water if you need it.
A highlight from ANTI BITCOIN BOB MENENDEZ CHARGED! SEC GARY GENSLER DOESN'T LIKE THE LAW (CRYPTO NEWS)
"Welcome back to the Thinking Crypto Podcast, your home for cryptocurrency news and interviews. If you are new here, please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify, Apple or Google, please leave a five star rating and review. It supports the podcast and it doesn't cost you anything. Well, folks, we got very interesting news, which I'm sure many of you may have heard in the mainstream media, and that is Senator Bob Menendez has been charged with bribery and a whole bunch of other crimes. And you may say, well, Tony, why are you talking about this? Right. Well, folks, Senator Bob Menendez, who is a Democrat, he introduced a bill back in 2022, which would help to stop Bitcoin adoption in El Salvador. And he was citing that the adoption would open the door for money laundering and corruption. Wow. Talk about hypocrisy, folks, right? This guy all along for a very long time, his track record, he's been accused of doing a lot of shady stuff and now he's being charged here. The folks at Bitcoin Archive said the senator who said Bitcoin can open the doors of corruption in El Salvador was just indicted for corruption by federal prosecutors who seized one hundred thousand dollars in gold bars and four hundred and eighty thousand dollars in hidden cash from his home. So politicians those who are often very loud and screaming against crypto are the ones who have a lot to lose and a lot to hide, who are probably doing shady stuff. For example, Elizabeth Warren, Brad Sherman, Gary Gensler, right? I'm sure they've got some really nasty stuff in their closet. And some folks have shown that Elizabeth Warren has a net worth of seventy three million dollars. And of course, her salary is just like two hundred and eighty thousand a year. That's a great amount of wealth she's accumulated from just a senator's salary, right, folks? But we know the game, right? This is why we got to keep fighting and we got to expose these corrupt bureaucrats and politicians like Elizabeth Warren and Brad Sherman. We know they are puppets on the string doing a lot of the bidding of the tradfi incumbents and people who would love to kill crypto and not just even kill crypto, but just stop or kill the startups and allow their banking buddies and Wall Street buddies to come in and take over. So I'm glad these folks are getting exposed. And President Nayib Bukele, who, of course, he's the president of El Salvador, he tweeted about this news. He said, this is the guy that called for an investigation against us. He ended up being charged, period. So I'm glad he's doing a victory lap there. Now we got some interesting news about a library in the SEC. So we had reported just about a week and a half ago or two weeks ago that library was going to file an appeal. And this is based on the Ripple lawsuit outcome. Right. It makes sense. We have new case law with XRP, so it makes sense for them to appeal. And the First Circuit Court of Appeals in Boston has directed library to file its brief by November 1st, 2023. Now of course, this is no guarantee they're going to win. But the point is, we want to put the pressure on the SEC and Gary Gensler. We want to expose them for their lies, hypocrisy and much more. So I'm glad library is doing this. Attorney Jeremy Hogan highlighted a video here with Gary Gensler being interviewed. And it just shows his hypocrisy that he doesn't care about the law. He just cares about his own power and his next job. And it's no wonder Judge Sarah Netburn said the SEC has no faithful allegiance to the law. So he says the crypto space is full of hucksters and noncompliance. Well, the reporter asked them, would anything a court says change your mind? Great question. Gensler said, well, no, not really. And of course, he looked very shaky. He's losing confidence. And Attorney Jeremy Hogan said, you can't make this stuff up. So clearly, this man has no respect for the law. He's just making things up as he goes. It's about his show, his power, his ego. And we can't have that, folks. This guy's supported by our tax dollar. He should be kicked to the streets. And I'm telling you, I hope that Coinbase mops the floor with his buffoon and the SEC so that he has so much pressure on him. He's forced to resign. I'm hoping that happens. Now, Stuart Aldarati highlighted that same video. And here's what he had to say. What's most concerning to me and should be to you in the full video clip, this is the shocking admission of an unelected bureaucrat that he won't respect the decisions of the courts. So I'm thankful for the judicial branch and the balances we have in the government that a corrupt scumbag regulator like Gary Gensler, as much as he can go around saying all kinds of nonsense and nasty stuff, he has to respect the courts in a sense of what they put out there. Right. The SEC has to abide by that. Now, he may not personally agree, and he can, you know, like in this interview, say, oh, no, I don't agree with anything. But at the end of the day, if he takes a loss, he takes a loss. Right. So we got to keep fighting. I'm hoping the industry keeps fighting back as well. Now, quick word from our sponsor, and that is Uphold, which is a great crypto exchange that I've been using since twenty eighteen. I've interviewed their CEO and many representatives so I can vouch for this platform. They have ten plus million users, two hundred and fifty plus crypto currencies, and they're available in one hundred and fifty countries. You can also trade precious metals and thirty seven fiat currencies so you can switch between these different currencies and crypto and precious metals at a click of a button. So it's a unique platform and they've been around for a long time. Once again, I can vouch for this platform. So if you'd like to learn more, please visit the link in the description. All right. Let's move ahead. Caitlin Long was at Mainnet and she was tweeting out some of the statements coming out of Mainnet. I was at Mainnet yesterday and I met her. I tweeted out a photo of us together. I was supposed to go on Wednesday as well, but I wasn't feeling too hot. So stayed home that day. But, you know, there was a lot of folks there. And Brian Armstrong, CEO, was there. He said the Biden administration has been terrible for crypto. Well, that's to say the least, right? That's an understatement. They've been horrendous, in my opinion. Caitlin also highlighted that 61 percent of pro -crypto voters actually this is she's highlighting what Chris Lee Hain had to say, that 61 percent of pro -crypto voters in 2020 voted for Biden. Democrats are at risk of losing them in 2024 due to anti -crypto policy. Absolutely right. And these Democrats are shooting themselves in the foot. Patrick Hanson of Circle highlighted the following, that the euro stablecoin, obviously Circle issues USDC, but they also have the euro stablecoin and it's now EURC instead of EUROC. So just an update there. So the euro coin is now EURC. So just heads up on that, folks. And I want to highlight something I tweeted out today, and I think it's important. And, you know, all emotions aside, all feelings aside, I was highlighting that I'm very bullish on Ethereum for the 2024 -2025 bull market. Now this is, once again, all emotions and feelings about Bill Hinman and Joe Lubin aside, I still want those guys to be held accountable. But as for the token and the code, it's getting adoption. And I highlight that PayPal is building their stablecoin in Ethereum, right, PYUSD, Citibank's token is built on Ethereum. JP Morgan is working on a deposit token, which is built on Onyx, which is a permissioned version of the Ethereum blockchain. Coinbase is obviously launching base, which is their layer two for Ethereum, or they have launched it, I should say. And there's a rise in institutional ETH staking. So I'm very bullish on ETH and this type of news, these facts now, not my feelings, not my opinions, but these facts of adoption from very big companies and brands has me very bullish on Ethereum. I obviously hold ETH in my portfolio. I stake it and I continue to buy the dip, not financial advice. You should do your own research. And obviously I'm not just bullish on ETH alone, but just there's been a lot of adoption. And I want to highlight that because it's about facts, not feelings now. And I'm bullish on Bitcoin, XRP, Chainlink and many other tokens. Let's talk about Core Scientific, which is a Bitcoin mining company. So Core Scientific sealed $77 million Bitmain deal for 27 ,000 Bitcoin mining rigs. The deal was first finalized in August with Anchorage as another party agreeing to an equity stake in the bankrupt crypto miner. So one of the key things is that BlackRock also gave them a bit of money. Guys, this was back in 2022. So it's kind of like to the Victor goes to spoils where Bitmain was in trouble and then a whole bunch of folks started coming in to grab up as much as they can. So the deal between the two mining companies will see Bitmain supply 27 ,000 Bitcoin mining rigs for $23 million in cash, along with $53 .9 million worth of common stock of the bankrupt firm. Apart from the mining hardware purchase deal, Bitmain and Core Scientific have signed a new hosting agreement to assist Bitmain's mining operations. The deal was finalized in August when a court filing highlighted Bitmain's plan to sell mining hardware in exchange for cash and equity. As part of Core Scientific's restructuring plan, apart from Bitmain, the restructuring plan also included Anchorage. And you guys may have seen my interview recently with the president of Anchorage and the co -founder of Anchorage, Diego Monica. If you haven't seen that, be sure to check it out. It says here, restructuring plan also included Anchorage, BlockFi and mass mutual asset finance. Apart from Anchorage, all other three firms chose a mix of cash and equity options to settle their claims. The expansion investment plan by Bitmain will come into force by the fourth quarter of 2023, pending approval from a judge. Once approved, the hardware will potentially add 4 .1 exahashes to Core Scientific's hash rate. The two crypto mining companies all have also agreed to work together to upgrade Bitmain's last generation miners hosted at Core Scientific's data centers to further increase the firm's productivity. So, folks, Core Scientific, I will be potentially interviewing the new CEO and I'll let you guys know when that's coming up. But I want to definitely get into the details here and what BlackRock is doing with them in addition to Bitmain. So I'll definitely be asking those questions once I get the interview locked in. But, you know, a lot of companies are preparing for the Bitcoin mining next year. And many of you may have seen my interview uploaded earlier today with Fred Thiel, who's the CEO of Marathon Digital Holdings, and Marathon is working with a sovereign wealth fund. So, folks, there's going to be a lot of capital coming to the market. You're going to see a rise in demand for Bitcoin as the spot ETFs get approved, especially around, you know, BlackRock spot ETF and Fidelity and so forth. So I'm very bullish, you know, like I've been saying, we are in quantitative tightening, fighting inflation, rates are high, but this will end right as it has historically boom and bust cycles. The Fed will eventually start its QE again. They're going to start printing money, global liquidity will go back up and we'll be back in a bull market. We just have to be patient, dollar cost average where possible. And, you know, don't look at the price every day because you'll drive yourself crazy. And, you know, it's very volatile. Sometimes it's moving sideways. It's very boring. And I know that's tough. But just, you know, take your positions, obviously do your research, take your positions and just be patient and then, you know, watch what these players are doing. Right. Not so much the price, but watch what the players like this are doing, who's investing, who's building, who's raising capital and much more. So that's what I'm looking at. And that's why I build this podcast to share the news, because, you know, this is not going to make mainstream news. This is not going to be on CNBC, Fox or CNN or whatever it is. Right. And a lot of people are not paying attention. But I'm glad I'm here early. If you are here early, pat yourself on the back because there's going to be billions of people coming in buying Bitcoin and other crypto at a premium and they're going to go to BlackRock and whoever else. Right. But you and I are on the side of smart money. We are on the side of BlackRock. We are on the side of Fidelity. Right. Accumulating the lows. And then when the bull markets come back, then, you know, the herds, the herd who watch Jim Cramer and listen to Jim Cramer will go by. And that's when I'll be taking profits. And I'm sure many of you as well. So once you understand the market cycles, both for stocks, even real estate and obviously crypto, you know, you can make money, folks. And that's what I had to learn. I had to unlearn the mainstream media finance and listening to Jim Cramer and all these things. Right. And study the charts and understand the market cycles and know when to buy and when to sell, because all those things, you have to be a contrarian. Right. You've got to go against your emotions. You've got to go against the herd mentality. And that's hard if, you know, all your life you've been trained to go with the herd. Right. From television and media and all these things, you have to unlearn that. And once you get it, boy, it's pretty sweet. Right. To be able to make a nice return, make nice money. And obviously you've got to diversify. I diversify into different tokens, into stocks. I've often tweeted and sometimes shared, you know, my positions. Recently, I told you guys I bought PayPal because Jim Cramer said to sell PayPal. So I bought PayPal. Right. I know it's not going to be some quick flip. It may I see I may see some nice returns by next year and that's OK. I a am patient investor looking to build wealth for me and my family. So anyway, guys, that's my approach. Let me know what you think. I would love to hear what you guys think about this news. Leave your thoughts and comments below. Hit the thumbs up button. Hit the five star rating on the podcast platforms. Don't forget to check out the merchandise store. Link will be in the description. Thank you for your support. Thank you for listening. And I'll talk to you all later. Thank you.
Saudi Crown Prince: If Iran Gets a Nuke 'We Have to Get One' Too
"Destroy their It's Ronald Reagan's approach to the old Soviet Union. How cause uprisings? Not to give them tens of billions of dollars let them sell their oil on the open market to support China of all countries as well as Russia to negotiate with Iran to beg Iran beg them Come back to the negotiation table and the reason for all this and it's been written about by people smarter than I about the Middle East is because Biden and and Blinken Sherman the other half wits knit wits and no they want to change the whole approach to the Middle East where are Arab ally countries in Israel no different than all the other countries that that it is a regional regional approach that we have to have and that we can persuade the Islamic Nazi regime in Tehran to participate like nice little terrorists in the region so they're trying to remake the entire Middle East and by making the entire Middle East we may have multiple nations that have nuclear not just power but nuclear weapons as I say I have I don't have all the facts nobody does it's possible to get them because they're doing all this in secret but the Biden administration has been put in the arm to the Netanyahu government now since Biden became or the occupant of the Oval Office they're still a pushing two -state solution which would
A highlight from 1262. Anti-CBDC Bill Vote! | 27 to 20 Stablecoins vs CBDCs
"You do not want to miss this one, we're going to be breaking down the CBDC vote that happened yesterday in DC. Also taking a look at a number of clips that'll give you some alignment as to what the future of CBDCs here in the United States might look like. We're going to break all that down for you. It's going to be a good one. My name is Paul Bearer, welcome back into Tech Path. Before we get started, I want to thank our sponsor, that's Tangem. And this is all about self -custody. When you think about CBDCs, you got to think about self -custody. Check out tangem .com, you can learn a little bit more about their wallet. They do slim as a bank card, secure as a bank vault, store, buy, earn, transfer, and swap thousands of coins and tokens. If you want to use their card, you can do so with two different types. You can get the classic wallet, or you can get this new Tangem wallet that is a new type of card that's going to give you optional seed phrases. You can order these in three -card packs, so it's very easy. I would suggest doing that, spend a little bit extra for that. Use our discount code to help kind of soften the blow there. But it's a great value, check it out, we'll leave a link down below, it does help the channel out. Let's get into a couple of the things that happened yesterday. The two I want to focus on are these right here. The Power of the Mint Act, and then also the CBDC Anti -Surveillance State Act. These were the two that were focused on primarily. And I want to go to an intro clip real quick to give you kind of a framework of how this all started there in D .C. Listen in. Today we'll consider a slate of legislation to bolster our national security, protect Americans' financial privacy, and shield our financial system from the risks associated with the potential central bank digital currency, or CBDC. Unlike decentralized cryptocurrencies, a central bank digital currency is a digital form of sovereign currency that is designed and issued by a government and transacts on a digital ledger that is controlled by that government. If not designed to emulate cash, could give the federal government the ability to surveil and restrict Americans' transactions. This is not just alarming, it's downright un -American. We've already seen examples of governments weaponizing their financial system against their citizens in China. We need to counter China by being the best version of ourselves. This bill expresses that sentiment that, yes, we're going to innovate and we're going to lead on blockchain and we're going to lead on digital assets, but we're going to do so the American way. And the way we do that is decentralized. We don't do this by centralizing it in a central bank. We can achieve the innovation potential of blockchain and the immediacy of payments and the frictionless payments future with what we did in July. And that is to create a regulatory framework for stablecoin. All right, so there's some fire in the belly of the lawmakers. I like what I'm hearing so far. This sounds pretty good. But we get into more. And remember, there's always a bad guy. So let's go, maybe girl, we'll go to the next clip with Maxine Waters. Thank you very much, Mr. Chairman. Unfortunately, Republicans are marking up one bill that is not bipartisan. We do know that 130 countries around the world are racing to develop and implement a CBDC. What will happen if CBDCs issued by other central banks gain traction as a preferred method of payment in international trade transactions? Are we comfortable allowing the Chinese yuan or currencies from other countries to overtake the U .S. dollar as a principal global reserve currency? Republicans are making baseless attacks against the CBDC that does not even exist. So with that, I yield back the balance of my time. All right, so Maxine in rare form, I shouldn't say rare, normal form with her. She's, of course, for the idea of CBDCs. The other thing, a lot of what she said could be applied to stablecoins. And what we're seeing around the world, this is the first time I think we are chasing other governments who are actually trying to suppress their citizens. I would kind of be in a position or the camp of not going that direction. I like what I'm hearing so far. But let's go into our next clip. This is going to be Mr. Sherman listening. And allowing the Federal Reserve to continue doing what they're doing, literally recruiting and hiring people in the San Francisco Fed office to build a central bank digital currency is the financial equivalent of allowing the empire from Star Wars to build the Death Star so long as they promise not to turn it on. I'm struck by the hypocrisy of the advocates of cryptocurrency. They come in and they say cryptocurrency is wonderful because it's digital and it's high tech and it's innovative. And then they propose a bill which, in the words of the ranking member, is an anti -innovation bill. And they describe the U .S. government as Darth Vader. They describe any attempt to enforce American laws as the action of Darth Vader in the empire. As Sam Bankman -Fried has demonstrated, crypto is perfect for hiding from your creditors. And while his body may be in jail, his money cannot be found. I yield back. General McNeil's back. Thank you. I just have some, you know, obviously I'm opposed to this bill, but I just want to know what I'm arguing against. All right. You can't make this stuff. What am I going against? I don't even know what I'm going against. All right. Well, the point is, is that Sherman's usually in that kind of position. Anti -innovation. I thought that was a rare little piece right there. Both these guys are going to go against anything that I think the Republicans or even to a certain extent, the bipartisan Capitol Hill lawmakers will go when it comes to crypto or anything that is even related to blockchain. Let's get into our next clip. This goes into a little bit more about the unbanked. Listen in. And the idea that this is somehow going to help the unbanked is insane. Because when you ask the unbanked, why are you unbanked? A lot of it is because of surveillance capitalism. A permissionless system would be something more similar to Bitcoin. You could digitize it. And frankly, that's why a lot of people have been drawn in the unbanked and underbanked community to crypto currencies like Bitcoin. I think one of the speakers for this bill said that people aren't banked because they oppose the quote surveillance state. People aren't banked because they don't have any money. It's amazing. The people who aren't banked are the people who don't have any money. I'd be willing to support this bill if it also ended crypto. Well, that's an interesting statement there. When you go to the FDIC site, this is the 2021 FDIC national survey of unbanked and underbanked households. Look at some of the data here on this. An estimated four and a half percent of U .S. household, approximately 5 .9 million were unbanked. This is 2021. OK, likelihood of this is much greater. Remember, we have a lot of immigrants in our country that in many cases also are coming from countries who they've seen their banking system maybe not work out so well for them. And they are very, very skeptical because of that. Some don't have enough money to meet minimum balance requirements, as cited, but around 21 percent. But most don't trust banks. This was the second most cited main reason for not having an account. Avoiding a bank gives more privacy was the third most cited main reason, 8 .4 percent. Further into the report, this was a piece right here. Who are the unbanked and underbanked breaking this out? Most is distrust of banks, inconvenient locations, high bank account fees, needed products and services are not offered by banks, poor credit history, you know, check system, etc. Typical challenges I think a lot of people in the unbanked sector face. Let's go to our next clip. I think this is a good one right here. This gets into the privacy side of things. I think there's what 2000 stable coins that are out there right now. None of them, none of them protects the security of American citizens privacy. And when an American citizen puts all their information out in the private sector and it's available to 200 different retailers and banks and and other governments, there is no expectation of privacy. That's our problem here. Some of my colleagues gloss over the fact the whole reason they're collecting the data in the first place is the government makes them collect it. Frankly, if you don't agree to spy on your customers, you don't get to operate a bank in the United States. You don't get to operate a money service business in the United States, essentially get permission from the government to act as a financial services institution. So long as you spy on your customers. About million 350 pieces of evidence sitting over at the Treasury on private sector activity, these giant, enormous government databases, which have been hacked, both the IRS and others, Office of Personnel Management and others do present tremendous targeting by bad actors. You know, this is really where it gets into the destruction of personal privacy. And this is the problem that we do face in our society. Some of the countries that are already down this slippery slope, countries like China, as an example, right here, China's central bank digital currency. This is the digital ID to deduct fines instantly from your digital wallet if you're caught for speeding or jaywalking by a surveillance system. So right there, this kind of shows the actual crime of jaywalking now portrayed on basically a bulletin board in front of everyone. And then, of course, automatically deducted. These are the kind of invasion capabilities. Talk about, you know, search and seizure. This is going to be able to break down the walls of search and seizure and do things within our own economies and within our own society that we would never dream of, especially around the Constitution. This is China right here. Super SIM cards now featuring new digital yuan functions is this super SIM card right here. It's going to function as a digital yuan wallet, smart card and I .D. cards as the nation's CBDC pilot continues. So this is going on to phones and will make its way into a position where you can no longer utilize because you have digital wallet. Now your wallet and you're going to be able to use this in a way in which you go to a grocery store, you go to any retailer and you use that as a payment for form. And that's where they can lock it down. And that's exactly what I think these lawmakers are fighting against. Let's go to our next clip. This will continue to show you a little bit more about this slippery slope of privacy. Look at my uncle and my cousin helped me get a cell phone that is linked to a Chinese bank card so that I could buy anything pleasing and I have to pass facial recognition identity verification, which is insane, because all I want to do is just spend my gift card balance on this debit.
A highlight from Chairman Gallagher on What Bret Baier and Martha MacCallum Should Ask the GOP Candidates About Xi and CCP
"We're proud to announce our brand new ACLJ Life and Liberty Drive. Our legal teams will be focusing on the issues that you, our ACLJ members, have told us matter the most to you, life and religious liberty. Join the ACLJ in the fight to keep America free. Welcome to today's podcast, sponsored by Hillsdale College, all things Hillsdale, Hillsdale dot edu. I encourage you to take advantage of the many free online courses there. And of course, a listen to the Hillsdale dialogues, all of them at Q for Hillsdale dot com or just Google Apple, iTunes and Hillsdale. Morning Glory America Bonjour. Hi, Canada. I'm Hugh Hewitt. Tomorrow night, eight Republicans will meet on the stage in Milwaukee for a debate. I am certain that China will come up the Chinese Communist Party, but I'm not sure how. Brett Baer, of course, coming up later in the program. Martha McCollum, two superb professionals, the equal of anyone else in our business, will be asking the question. But I thought I would talk it through with the chairman of the House Select Committee on Engagement with the Chinese Communist Party. Mike Gallagher, congressman. Good morning. Great to have you. Thank you for joining me. It is great to be with you, Hugh. We're going to come back around to this kind of war, which I finished last night on the recommendation of you. It is a remarkable book. And I had no idea how awful the chai comms were to our American prisoners. I just I didn't know. Did you know that before? Did the Marines teach you that when you were in the Marines? No, there's there's two things that I think, well, a lot of actually our modern thinking about how to prepare people for when they get captured. Think survival of Asian resistance and escape school, which I attended when I was in the Marine Corps actually comes out of the experience of the Korean War, particularly some politically sensitive moments when a few American captives refused actually to go home. There was, of course, this controversy during that time period post Korean War in the 50s about this idea of brainwashing. This is prominently expressed in the fictional book The Manchurian Candidate, which became a major American movie. But a lot of our thinking about how to better prepare pilots in particular because they get shot down for resisting in captivity actually comes out of that period. Well, a couple of takeaways I'll never forget. There are no Turks died in the camps. The Turks are the toughest people in the world, and none of them died in the Chinese Communist Party camps. And the Americans didn't eat everything they could eat because they didn't like it and they died of starvation. But the fact that the Chinese communists treated our men that way is a tell because they've reverted to this mode. They were the hardcore Maoist, Leninist mode in 1950 through 1953, and they've reverted. And that's what I want to talk to you about. I want to ask you at length. We got a lot of time this morning and thank you for the time. If you were advising Brett and Martha based upon your six months, what would you tell them are the major takeaways that you've learned as the chairman of the Select Committee? And how would you suggest they be turned into a question? Take your time, because that's a big that's a big question. What have you learned thus far in six months? And how would you convert that into questions for our candidates? Well, I think the overall thing to realize for these candidates and this advice is worth what they're paying me for it is that there is, in my opinion, something called the commander in chief test. It's not you know, you're not graded A through F. I think it's a pass fail endeavor, but it is absolutely critical. Put differently, I'm not myopic enough to believe that foreign policy or a particular issue of foreign policy is going to win the candidate candidate the election, but it could very well lose them the election. The final thing to say about the assumptions going into this when it comes to foreign policy is that the conventional wisdom is that it doesn't really matter from a political electoral perspective. And there's a lot of social science to support that. I just would say it doesn't matter until it does. It doesn't matter until things go haywire on the world stage and suddenly voters are looking to a prospective commander in chief to communicate, if nothing else, a sense of safety that I have the temperament and the plan to keep America safe in a very dangerous world, which leads, I think, to the answer your question more than anything else. I think these candidates need to communicate that they have a clear understanding of the threat we face in the Chinese Communist Party, the scale and scope of this threat. Why this isn't just a matter of some obscure territorial disputes in the South China Sea. This is indeed a global competition. The CCP has global ambitions. What happens in Xinjiang, what happens in Beijing is not going to stay there. They are intent on exporting their model of total techno totalitarian control, which leads to the second point that you need to find a way to contrast that threat to enduring the and inherently superior American values. And I do believe that this is a contest between two fundamentally incompatible systems of government. And it's unlike anything we've seen since, of course, the old Cold War. So communicating the stakes, communicating who we're dealing with in the nature of a Marxist Leninist regime that will stop at nothing to ensure that they survive at the expense of their own people. And that is the enemy of freedom around the world is the most important thing. In fact, I would say even more important than any particular policy position is just communicating that understanding of the threat and the prioritization of the threat, a recognition that as president, the most important issue that you will be dealing with as commander in chief is how to deter a war with the CCP in the short term and win a new Cold War with the CCP over the long term. So let's put that in the form of a question for Brett and Martha, because I think you're right, I am looking at, of course, I've always looked at every one of these debates as an audition to be commander in chief. Eventually, there comes a choice with the Democrat. But right now, when I vote in the Virginia primary, I will vote based on who will be the best commander in chief. And because that's what matter. 9 -11 matters. What is the W do on 9 -11 that matters? What does W do? The Afghanistan and Iraq. What does anyone do on any moment of crisis? What do they do in the situation room? Figuring out how to elicit that about China is a difficult thing. So you've been doing nothing but this for six months. And by the way, recap for our audience and Pittsburgh Steeler fans what you have been doing for six months, because they may never have heard of the select committee. This might be the first day they're listening to the audience. No acronyms or five dollars in the tip jar for food for the poor. Well, the speaker of the House created the select committee on the CCP to do two things. One is to communicate why this matters, why anybody in northeast Wisconsin or Pittsburgh or Ohio should care about the threat posed by the CCP, to shine a light on all the things that they're doing, whether it's threatening to invade Taiwan, whether it's establishing illegal police stations on American soil, whether it's infiltrating American universities or attempting to build spy bases in our near abroad, to explain why it matters and why your average American should care about it. The second thing is to identify policies and pieces of legislation that can pass even in divided government. In the 118th Congress, what is the center of gravity in terms of steps that we can take in order to put ourselves on a better position to beat the CCP in this short and long term competition? So that's what we've been doing. We've broken it down, essentially, as though this isn't a perfect organization into three main lines of effort. And I do think this reflects our overall lines of effort, our grand strategy against China basically has three main components. One is military competition. What are the things we need to do to deter a war over Taiwan in the near term, as well as ensure that we maintain our dominant military position over the long term? The second is what I call economic statecraft. How do we selectively decouple from China so they don't have a coercive leverage over us so they can't threaten, for example, to cut off the export of advanced pharmaceutical ingredients in order to bring us to our knees? And then the third line of effort is what I call ideological warfare or ideological competition, which is not only how do we rediscover a language for talking about American values and incorporate values and human rights back into American grand strategy, but also how do we better defend our institutions from Chinese Communist Party subversion, from something called United Front Work, from traditional espionage, things like that. So we aren't corrupted and divided from within, which is what the Chinese Communist Party is trying to do. Wang Huning, who's Xi Jinping's top lieutenant in the 90s, wrote a book called America Against America, in which he talks about Americans as greedy, factional. And that that title, America against America, I think reflects their overall strategy, which is to divide Americans against Americans and thereby make it impossible for us to compete. So we've been developing policy recommendations along each of those lines. We've put out two reports, one on military competition, one related to human rights. And we're going to be putting out further reports. So, you know, I think those are useful starting points for for candidates who want to prepare for a debate in terms of where's Congress at on this issue? Where's the bipartisan center of gravity? Where can you potentially build on some of our work? But that's what we've been doing for six months. It's trying to understand and explain the threat and then identify policy solutions that help us to combat that threat. How would you put that in the form of a question by Brett or Martha? Well, there's the overall prioritization question, you know, what is the biggest threat to American national security, which is a bit boring, but no, it's not that's not boring. That that is that is the question, isn't it? Shouldn't that just be asked? What is the number one threat to American national security and why? Shouldn't that be it? Yeah, I think that that's table stakes, right? That's a good diagnostic question. And then it also allows the candidates, if they want to use their full time and I forget how much time they get to really articulate the key distinction between them and the Biden administration, because if you read the Biden administration's national security strategy that they talk about China as a pacing threat, although I'm hearing now that the Pentagon is saying don't say pacing threat, say pacing challenge or competitor, because we obviously don't want to provoke the CCP for whatever reason. I've described this as kind of like a Voldemort phenomenon. There's this belief that the more more we say things like New Cold War or say that the CCP is doing bad things, that it will somehow become more true, which I think is absurd. I'll be right back. Sherman Gallagher is going to stay with me through the break and then we're going to bring him back and then we're going to do that again. And we're going to talk to him for 15 minutes this morning about this. I can't believe I'm doing that. 15 minutes with Mike Gallagher coming right at you, America. Stay tuned. I'm back now with Chairman Mike Gallagher. This is the segment between the radio segments, so you don't get to hear this unless you're watching it on YouTube or on the on the television station. Chairman, in terms of what level should we expect of our candidates knowledge? I see your Green Bay Packers thing yet. Do you know the Browns cleared 38 million in cap yesterday by restructuring Joel Bentonio and Miles Garrett's contract? We have no we have the most cap space in the NFL. We are the team to beat. We will see you. I actually I don't think you're making it to the Super Bowl this year. We are going to be in the Super Bowl this year and you are not ready for this. I'm glad this isn't on the air because this is a serious conversation. But you had to do that little thing. And I'll I'll just go get my brown sweater and just put it on during this segment like that. I'm going to wear this all the time now on the air because we're going to the Super Bowl. Chairman, do you know that we cleared Miles Garrett contract yesterday? You know what we do? Do you follow sports at all or do you just do ChaiCom stuff? I don't follow Brown's contract minutia. I'll confess. I'll confess that, though. I was I was yesterday. Someone said that I had the potential to coach for the Browns after I helped them with a constituent case issue, to which I said I would never coach for the Browns on an Intel. All right. Let me get serious again. I'm going to try to go off the off the rail. We'll get back on the rails. How many times have you guys held public hearings? Oh, gosh, I think 10 at this point, approximately 10. You had at least one set of war games. You have more war games coming. We do. We have we have at least one more coming up that's going to be more focused on economic and supply chain issues. OK. Do you think the candidates know anything about that? I really do want to try and use today to focus their attention on China. Do you think they know anything about what the select committee has been doing? Have you been approached by any of them? I think some do. It's part of the reason I wrote an op ed on this that appeared today in The Wall Street Journal just came out was an effort, maybe shamelessly, to draw attention to some of the things we're doing, because I think it creates some unique opportunities. I mean, to me, you know, the most and this reflects my bias in thinking that hard power is the most important variable on the world stage. I think a candidate who can articulate what we need to do to rebuild the military in general, but really the Navy in particular, which is, as you know, Hugh is really struggling right now. It needs to be our priority force in our priority theater. It's not. We're going backwards. There's questions about focus, warfighting prowess. You know, I wrote a report with the help of Admiral Montgomery about the lack of warfighting focus in the surface Navy with Tom Cotton, Dan Crenshaw and others. I mean, I think that's a massive opportunity for a candidate really to take the ball on defense and go a few layers deep beyond just peace through strength, military good, China bad. You go a few layers deep on that and sort of communicate that you have a coherent plan. Doesn't need to be super detailed. Doesn't need to be a 50 page white paper about everything we need to do. But just as an overall strategy for fiction, I'm going to get your comms team in trouble again. I haven't seen this plan that you and Cotton worked on. How can I not have seen this plan? Well, this is a year ago. You got to blame Cotton's comms team for this because he was OK. And usually it's good to blame Tom Cotton. He's on next hour. I'll do that. Is that widely available? Yeah, it's Cotton did it with four of us in the house. It was over a year, a year and a half ago, kind of in response to all of these ship collisions. Some of the reports that we were getting from active duty sailors and just the changes over the years to training in the surface Navy. We did a deep dive drawing on the expertise of Admiral Montgomery and others. I will give him about that in the next hour and I'll get a link and I'll make sure it's posted out to the candidates. Don't go anywhere. I'm coming right back with Chairman Gallagher. Welcome back, America. I'm Hugh Hewitt, Chairman Mike Gallagher of the House Select Committee on Engagement, the Chinese Communist Party returns. We talked during the break and we got off course because we did a little football trash talk. But now we're back on course. Chairman Gallagher, have you read this book? You had Kabul, the untold story of Biden's fiasco and the warriors who fought to the end. It it made me furious. It absolutely made me furious. Have you had a chance to read it yet? No, but my friend Commander Salamander, who's great in his podcast, Midrats, I highly recommend, just did a podcast with with the authors. So I listened to it. It's not the same, but I am now looking forward to reading the actual hard copy. Well, the end of the book, which I don't know of Commander Salamander got to because I didn't get to it and I talked to him for a long time. It's about how the chai comms came in as soon as we left. They have designs on Bagram. They know what the air raids mean. They know what the strategic minerals mean. It's just a great example of what happens when we retreat in the world. In fact, in the in the this kind of war book you had me read, I wrote down some notes. A retreat once started as the most difficult of all human actions to reverse. And they were talking about the retreat of the Norcs at that point. And then we would retreat later when they counterattack with the chai comms. But we retreated from Afghanistan and they have come in. Have you focused yet on what they're doing there? It hasn't been, admittedly, a subject of a hearing. You know, we have experts, you know, regional experts and Afghanistan experts. I think the key thing to bring it back to the the presidential debate, obviously the obvious thing to do is to connect the surrender to terrorists in Afghanistan, our abandonment of our position, our abandonment of billions of dollars worth of military equipment to then the collapse of deterrence in Ukraine and Eastern Europe, because I do believe that our feckless position in Afghanistan sent a clear signal of weakness to Vladimir Putin. And no wonder Vladimir Putin ignored all of our warnings leading up to the invasion on February 24th because we look so weak on the world stage and we allowed terrorists to completely take over the country. And I think also that has had a negative impact on our deterrent posture in in the Indo -Pacific, across the Taiwan Strait. You mentioned critical minerals. I also think this is a huge opportunity for presidential candidates to articulate a plausible path towards reducing our dependency on China for critical mineral processing. They control 90 percent of the processing. Right now, I think our attempts to wean ourselves off of our to to establish some form of semiconductor manufacturing independence are not going to be successful, in part because the Biden administration has placed so many onerous regulations on grants for chips, fabrication facilities. But if a Republican candidate, particularly one with a business background or with a gubernatorial background, came in and said, here's our strategy when it comes to advanced pharmaceutical ingredients, critical minerals and rare earth processing, tie that to a robust domestic economic agenda. That's a massive opportunity for someone trying to pass the commander in chief test, because the reality is we are going to have to reclaim our economic independence from China in key areas. The progressives are experimenting with one way to do it. We need to identify a way that is fundamentally free market, but not but nonetheless achieves the actual goal of reducing our dependency on China. Chairman Gallagher, there's only one veteran on the stage, Ron DeSantis. Mike Pence has got a son and a son in law on active duty. Of course, Nikki Haley's husband is deployed. Those three know about this in terms of of why is China a threat? Is it a fair question to ask? Why is China a threat? What is it that worries you about China? Is that a fair question? If so, how would you answer that or suggest they answer that if you are one of the people on the stage? Well, first of all, I do think DeSantis has been really good on China and probably the best in the field. I was watching the forum that they did in Iowa. I forget what it's called, the Iowa Faith and Family Forum. And he proactively brought up China as an issue and talked about what he's done in Florida to combat the threat, talked about the threat in global terms. And so the most of the discussion focused on Ukraine. And I understand that that's more of a politically divisive issue on the stage. And so there is a you know, I think the moderators will want to identify the differences between the candidate thus far. Governor DeSantis has been talking in clear and unapologetic language about why the CCP is a threat and what he would do to combat it, which is greatly appreciated. More to your point, as a Navy veteran, I think he has a huge opportunity to be the Navy guy, be the guy who's going to rebuild the Navy and put it in a position where it can it can deter Xi Jinping from attempting to achieve his lifelong ambition was to take Taiwan by force. So to answer your question, Vivek just told me last week, we'll give them Taiwan after we achieve semiconductor independence. In other words, Vivek understands Taiwan is important for its semiconductor. Your colleague on the committee, Ro Khanna, tweeted at me last night when I was already offline that that doesn't do the trick. That's not why we're worried about Taiwan going down. Who's right? Well, obviously, our interests in Taiwan extend far beyond semiconductors. Our interests predate Taiwan's emergence as a semiconductor powerhouse. And if the concern from Vivek and I think it is that our dependence on TSMC for semiconductor manufacturing needs to be eliminated, I just would say two things. It's highly unlikely that we're going to achieve semiconductor independence by 2028. TSMC is investing far more money than the CHIPS Act is investing right now. Even under a Republican president, we would struggle to wean ourself off our dependency. But if the CCP had control of Taiwan, they would still be able to hold the rest of the world economically hostage. And that is the issue. Semiconductors or other or some sort of domain of economic competition. If they had Taiwan, they would be able to completely dominate the region through which trillions of dollars of international trade go. The other thing I would say, it's I mean, we got to go to break. I'll come back to go to break. We'll be right back with Chairman Gallagher during the break and then one more segment beyond. Don't go anywhere. America, I'm Hugh Hewitt. Portions of The Hugh Hewitt Show are brought to you by Food for the Poor. So I'm back with Chairman Gallagher, Chairman Vivek's answer to that is I'm going to get India to cooperate. And if Taiwan closes the Taiwan Straits, we're going to close the Malacca Straits. Ro Khanna says that's that's crazy. That doesn't work. I don't know what the answer is, but I know what Vivek has told me. I don't think he agrees with you, but I'll let him speak for himself. I don't want to put words in his mouth that we have to worry that much about the Taiwan Strait. Well, he's obviously very smart. I would say this with Marxist Leninist regimes, their appetites grow with the eating. So I think it would be a mistake to think that if we just surrender Taiwan on a date certain that we wouldn't have to worry about the problem. If they're the dominant regional power, they're one step closer to becoming the dominant global power. And that, I think, is the answer to your earlier question. Why? Why is the CCP a threat? Because they're trying to destroy our geopolitical position. Primarily by convincing us to destroy ourselves, they believe, as we mince words about whether they're a competitor or an adversary, they certainly believe that they're in an existential war with the free world led by America and that China will win, rendering America and our constitutional system of self -government subordinate, humiliated and wholly irrelevant on the world stage. So you can sort of think of it as as an assisted suicide. You know, they're trying to expedite our collapse. They provide the chemicals, fentanyl, the collapse in prosperity. Covid, IP theft, economic warfare and the self -loathing and depression via political interference and information warfare. So I think the the the threat would not stop after Xi Jinping had taken Taiwan. I think it would only expedite and become greater. So if you could read Xi Jinping's mind, what is he thinking about us? What does he want to see happen to us? I think he wants us to look inward and to abandon our position on the world stage and to be consumed with internal political battles. I also think he likes seeing us embrace this almost the CCP's narrative that America is an evil country. America is a neo colonial racist hellscape. I mean, this is CCP propaganda that a lot of Americans have embraced. I think ultimately he wants us to lose faith in ourselves as a force for good in the world. And ultimately, over time, he thinks the rest of the world is going to Finland dies more in the CCP's direction as an alternative model of government and world leadership, in part because America has lost faith in itself. That's why I think primarily the hard power is the most important variable. This is an ideological competition overall. And ignoring the role ideology plays in the competition is a fatal flaw. And so we need to find a way to press the candidates on that as well. You know, the we got two minutes before we come back. The ideological competition is quite simply not discussed. And I don't think our media is familiar with it. They're not stupid. They're ignorant of the ideological. They don't even believe it exists anymore. Chairman, have you run into that? Do your Democratic colleagues believe that there are such things like Leninist and that that the 20th century ideological competition is back with a vengeance? Well, I think for two and a half decades, we tried to take the communist out of Chinese Communist Party, and this belief persists that, well, they're not really communist. They're not really Marxist. They've embraced forms of capitalism and they're they're rational actors. And I think this is a dangerous way of thinking to go down, particularly under Xi Jinping. The party has embraced its Marxist Leninist roots. Xi's spirit animal is, in fact, Stalin. He looks to Stalin for guidance on how to operate. And so a candidate who understands that and can articulate that, I think, has a massive opportunity to distinguish themselves. The Democrats sort of come at the ideological competition through human rights. And there are a lot who genuinely believe in the cause of human rights. And though there are times when we have to prioritize between security concerns and human rights, this is when dealing with China, that's not an issue at all. We're coming right back. Stand by, chairman.
A highlight from What Progressives Should Understand About Crypto
"Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. What's going on, guys? It is Sunday, August 20th, and that means it's time for Long Read Sunday. Before we get into that, however, if you are enjoying The Breakdown, please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the conversation, come join us on the Breakers Discord. You can find a link in the show notes or go to bit .ly slash breakdown pod. Hello, friends. Welcome back to another dose of Long Reads Sunday. Now, today's essay is a topic that I feel very strongly about. It's one that comes up quite frequently on the show, and it's about progressivism and Bitcoin. Now, Bitcoin has, of course, had a historic reputation as a bastion for libertarians, and there are lots of reasons why that is. Holding aside the early adopter group, which often intersected with that political cohort, the fact of the matter is Bitcoin and all of the cryptocurrencies that follow it did take something that has for hundreds of years been the province of governments, i .e. money creation, and put it in the hands instead not only of private citizens, but really of this totally new type of force, which is a math -based protocol. Inherently then, there is a power limiting aspect to it relative to government, and so it's perhaps not a surprise that it's more historically been associated with the right, which again typically favors smaller government, than the left, which has more confidence in the government to help be involved in producing a better world and environment for citizens. That said, Bitcoin and crypto had until very recently done a pretty remarkable job of staying a non -partisan concern, at least when it came to policy. Then, of course, FTX and SPF happened. Democrats in particular, who had looked to SPF as something of a hope for the future, not just in crypto, but as a wealthy primarily democratic donor, were extra keen to be seen as tough on the industry coming off of that betrayal. Now, in some ways, I think what that's really meant is the anti -crypto forces that were always there in the Biden administration having a window to kind of run roughshod over their peers who might not feel as strongly as them, because in the wake of FTX, there just wasn't anyone who was going to risk their political capital to defend an industry that seemed really messed up. However, that has started to change once again. We've seen Democrats break from their leadership in order to pass sensible legislation like the stablecoin legislation along, and in general, we seem to be getting to a point once again where the biggest line dividing how people think about Bitcoin and crypto isn't so much party, but age. So that is the backdrop for today's essay, which is called what progressives get wrong when it comes to crypto. It's by Sheila Warren, the CEO of the Crypto Council for Innovation, and Justin Slaughter, the policy director at Paradigm. It was published in Fortune. Sheila and Justin write, From women's suffrage to civil rights, from the growth of unions to the fight to protect the environment, social movements typically grow from the bottom up. Leaders emerge, but in victorious movements, those individuals reflect the views of the people. That's why we, dyed -in -the -wool progressives, are confused and distressed over a choice by many of our allies to devalue decentralization in the technology space and even to portray it as worse than big tech alternatives. In recent months, a number of progressive commentators have attacked the very idea of decentralization, arguing that it's a distraction from other political goals. This has also led to progressives making crypto a favorite target and, bizarrely, taking the positions of big banks, which are notoriously monopolistic. To us, the more pressing concern is legacy tech platforms and their ongoing capture of user data. Decentralizing technology will prove crucial in ensuring that the world isn't run by a handful of unelected technologists. As progressives, we join the crypto space not despite our personal history, but because of it. Crypto is an exception to so much technology because it runs on blockchain and no single person or corporation can control it. We value a world where power is dispersed to the people, where no one is so powerful that they can dictate terms to the rest of us when it comes to civil rights and civil liberties. That is a decentralized world. Needless to say, we are far from that utopian vision today. Around the world, inequality has spiked over the last few decades, a trend especially bad here at home. There are many causes, but one is certainly that the power of technological change has accrued to a handful of giant firms. When it emerged 30 years ago, the internet was a wild expanse of opportunity. Now, it is just a small collection of corporate walled gardens, which are difficult if not impossible to escape from. We all know people who have sworn to leave a social media network only to return because everyone else is there or because their content remains the property of one of those digital feudal lords. Anti -crypto folks would say this doesn't matter, that the problems posed by large technology companies and large banks can be solved through political action. And while we support such efforts, there is no reason to think of political action and decentralized technology as oppositional. Instead, they are two arms of the same fighter. You need government to knock giant firms down to size and nascent decentralized technology to create competition for those giants in a way that doesn't just produce more giants. So we're perplexed. Why the progressive distaste for decentralization in tech and the apparent support for behemoths with well -known drawbacks? Maybe it's because they don't understand the technology, and if so, that could be on us. We in the crypto industry have may not done enough to explain it. Decentralization at its core includes a public permission ledger, one that no single person inherently owns. Blockchain is tracked through a ledger that uses computers globally to ensure that only validated information is added. Think about the websites we use, banks, YouTube, even Reddit, and how a single centralized entity owns all of them and can decide on a whim to change the site's features, remove users, or use those users' data in novel ways. Just look at what's happened to Twitter. Comparatively, a blockchain allows everyone to own their own data, to control their own information, and to port that information and data to another system at their discretion. It also allows for people to exchange both data and money in a peer -to -peer manner, without permission from expensive bureaucratic and, in many cases, unnecessary intermediaries. Why does this matter? A great example is the rapid response to the Russian invasion of Ukraine. While the international community faced months of bureaucratic hurdles before it could provide critical support, crypto bridged that gap immediately by identifying wallets that could not be seized or frozen by Russian authorities and delivering, since the invasion began, some $421 million directly to Ukraine for defense, medical aid, and rebuilding. On the data side, war crimes being committed by Russian militants against Ukrainian civilians are being documented on the blockchain, so tamper -proof evidence will be available at later hearings. Even in peacetime, progressives who engage in potentially dangerous organizing similarly need secure ways to communicate that can't be compromised by governments or corporations. As risk -averse banks have cut off operations within entire countries, millions have been riskier actors. Blockchain -backed crypto offers a transparent way to create fund flows without incurring the hugely expensive intermediary fees that arise when banks deem an area a greater risk. Migrants also use crypto to send money to their home countries, and this activity alone will become increasingly important as political and climate migration continues to accelerate. We understand that some support for centralization stems from a good -hearted hope that centralized actors can be more easily steered towards the common good. It's tempting to think that a strong central government could bring about radical change by fiat or that a more concentrated economy enables better central planning, but history tells a different story. As the saying goes, absolute power corrupts absolutely, and efforts to drive wayward governments towards the common good without a strong decentralized movement have resulted in tyranny. The best path forward requires leaning into decentralization to create a world where no one person or clique is indispensable, where an economy of diverse actors can work together to preserve stability and fairness for all. The way to avoid new tech monopolies is to create an infrastructure that doesn't allow for them. Instead of focusing on how the few can bring change to the many, we should be supporting systems that empower the many to affect change. That's the ideal for which Web3 is striving, and one that we hope other progressives will also look to as a path forward, not a movement to be suppressed by any means necessary. All right, guys, back to NLW. The first thing that I will say is that I think our discourse around this issue, progressives in Bitcoin and crypto, is getting a lot more sophisticated. The arguments are getting more cogent. They're being aired by people who actually understand what progressives are thinking in Washington, and I think that's a hugely positive thing. Now, one of the things that Sheila and Justin posit as a possibility is that a reason that progressives don't support crypto or decentralization efforts is that we haven't done a good job teaching about them. Frankly, this strikes me a little bit, at least, as letting the political class off the hook, given that there have been now years and years of exactly those types of efforts from numerous organizations trying to do exactly that. What's more, I think that it's quite clear that those efforts have borne fruit. As I mentioned, if you look at some of the latest legislation to be working its way through Congress and the Senate, strict party lines haven't applied to how that has advanced. At the risk of sounding ages, because I don't mean to be and I don't think that there's anything inherent that makes it so, younger Democrats and, frankly, younger Republicans are simply more likely to have given this technology the time of day and see things in the way that Sheila and Justin are describing. One of the problems, I think, that may explain why there appears to be an age gap outside of just a different technological literacy in general is that the longer that someone has been in Washington or on any field of battle, the harder it is to not bring one's priors and pattern recognition to things that are fundamentally new. When I first saw Elizabeth Warren, for example, going off on crypto, the interesting thing about it, because it was a money thing, it must mean that it was corrupt as every other money thing that she had fought against. It was almost as if the idea that anyone would spend time on a money thing made them as a person and by extension as an industry null and void as a person or an industry that she wanted to engage with or thought had any redemptive qualities whatsoever. That's not crypto. That's the priors of old battles, many very legitimate that she fought being mapped on inappropriately, frankly, to a new field in which, as Sheila and Justin explain, many of the people there are trying to fundamentally change the problems of the traditional financial sector. You can see the same thing happening with the big tech patternicity happening now as well. While Sheila and Justin point out that decentralized technology is the inherent enemy of big tech consolidation, there are many on both sides of the aisle who simply saw crypto as another tech thing. And because they didn't like Zuckerberg, they clearly didn't like this. Now, it perhaps didn't help that for many of them, the first time they actively engaged with the issue was around Facebook's Libra project, i .e. crypto in the Zuckerberg universe. But it's still bringing priors back from a different fight into a new one. It's also hard not to feel, especially if you listen to someone like Brad Sherman, that part of that bringing priors, part of bringing that antagonism and old battles from both finance and big tech into crypto is that these politicians just flat out don't like us. Ultimately, anything that's a part of human nature is unfortunately a part of politics as well. So there's not necessarily much to be done for that, but it is a really bad way to make policy. And that's why I'm so glad to see a shift happening once again, where this issue of decentralization and the crypto industry that embodies it is not just owned by one party or another. I think that our fights around technology are going to do nothing but get more serious as new technologies come online. And I think a lot of what we will look at now, these early skirmishes, will be viewed as just prologue for what's coming next. So let's do our best to get as smart as we can and have the best conversations, because Lord knows we're going to need it. Hope you guys are having a great weekend. Appreciate you listening, as always. Until next time, peace.
A highlight from Tron, Learn About Exchange Safety And The El Salvador Bond hype
"Support for crypto camel is provided by you, the listener. We couldn't make this show come to life without your support. So make sure to subscribe on iTunes, Spotify or wherever you listen to your podcast. We love our community to chat about what upcoming cryptos are next to go to the moon and what hidden gems are going to be the next big thing. Hey, welcome to another episode of crypto camel. Today's episode we want to cover a few things including Tron's cross border payments, the bonds happening in El Salvador and some deposit risk when it comes to cryptocurrency exchanges. We want to help our listeners out there just to know the facts about what's going on when you make deposits onto an exchange. So let's start with that and you know with what's happening with Sam Bankman -Fried recently and some of the security risks that you hear out there all the time. Let's kind of dive into the nitty -gritty of what's going on with these exchanges. Basically, where does your money go? Once you've deposited some cryptocurrency onto an exchange, where does it actually go? I mean, one would expect that these funds will be held in your name as a liability with safeguards in place to make sure that you can withdraw them when you wish. However, this is not necessarily the case. Take FTX for example. You know, the former FTX CEO Sam Bankman -Fried allegedly treated customer funds as if they were his own, tipping billions into Alameda research. So FTX would use those assets for their sister company and hedge fund and then find themselves in a position where the hedge funds had lost all their money and then that leads to there being no assets for the clients to withdraw. Now, some of these exchanges are, you know, good custodians and some are not. Basically, we could talk about Celsius as well and before its collapse in July of 2022, Celsius was allegedly using money from new customers to pay off attractive yields promised to other existing customers. And Celsius was caught and basically off guard by treating their clients' money as if it was their own. And crypto opponents in the US, House of Representatives like Brad Sherman, basically characterized this behavior as an endemic on the cryptocurrency ecosystem. So what are all the other crypto exchanges actually doing with your money if they're not outright frauds? Can you trust exchanges to safeguard your funds? There are hundreds of cryptocurrency exchanges across the globe spanning from more trustworthy to outright fraudulent. And the crypto market tracker CoinMarketCap tracks 227 of these exchanges, with among them have an approximate 24 -hour trading volume in July, around $181 billion. And Adrian Silzoni, the CEO of Australian crypto exchange Independent Reserve, he says that consumers should always be mindful of the distinction between the business model of an exchange versus a broker. An exchange usually keeps its customers' assets directly in its own storage. This means they can't really use those assets to make extra profits for themselves. And Silzoni explains that Independent Reserve has enough liquidity on the platform so that when you place an order on the exchange, you are trading against another customer. On the flip side, brokers may entail counterparty risks to the other exchanges by holding customers' crypto assets on the exchange to earn some extra money. Now, this helps the broker rake in more funds, but it also puts the customer at risk. Brokers cannot earn a return using clients' assets without taking a risk. And with a brokerage -type business model, when you place an order, that platform has to essentially run off in the background to acquire the assets you want. A counterparty risk is when there's a chance that another party involved in a contract might not hold up their end of the deal. It gets riskier when a broker keeps customers' funds or assets on another exchange because that exchange goes bust. The customer assets could go down the drain as well. It's a word that would probably send shivers on the spines of the executives' Australian -based crypto Digital Surge, which found itself in hot water right after FTX went down. Basically, the Australian -based broker went into administration after it had transferred 23 million worth of its assets to FTX just two weeks before the whole collapse happened in November 2022. Digital Surge managed to pull off a lucky escape with a bailout plan. However, it did involve directors Daniel Rudder and John Lehman personally chucking in $1 million into the mix. Crypto lender Blockfine and Crypto Exchange Genesis weren't so lucky. Both ended up filing Chapter 11 bankruptcy due to being exposed in FTX. So while an exchange has fewer avenues to generate profits compared to a broker, it prioritizes the safety of funds. And if a crypto broker is storing client assets on another exchange, such as Binance, for example, the broker should be transparent with the client. If anything were to go wrong with Binance, the assets would be hard to retrieve. In the case of crypto exchange Bank of the Future, it's clear that as a registered visual asset service provider, it has to have disaster recovery and all client's assets should be distributable at all times, even if the parent company goes down. So securities registration holds an exchange at a higher standard, and it sets policies in place that need to be tested against them regularly. Securities registration basically requires an exchange to hold those assets and maintain comprehensive records verifying the customers, the real owners of the assets, as well as the exchange being subject to regulatory inspections. Now Coinbase and Binance's recent legal troubles with the Securities and Exchange Commission stem from allegations of operating an unlicensed securities exchange, meaning both weren't held to record keeping and safeguard requirements that a license would mandate. And so what happens after you deposit funds into a crypto exchange? So what actually happens when you deposit, say, $50 or $50 ,000 into an exchange and buy some crypto? Well, in the exchange model, where users trade directly with one another, it's like one on one deal, where your digital assets order is executed, your money goes straight to the person you're buying them from, the assets stay within the exchange throughout the whole transaction. When it comes to the broker's type model, you're buying assets from the broker directly. So the broker takes the money and uses it to acquire the assets you want. Essentially, they're playing matchmaker between your money and assets. The asset is then generally held on another exchange, regardless of whether your assets are hanging out on the exchange where you bought them, or with a counterparty linked to the broker you used, they will call home either a hot wallet or a cold wallet. storing Now, customer assets in a combination of hot and cold wallets is the common way that exchanges store your money. A hot wallet basically is connected to the internet and allows for quick transactions. On the other hand, a cold wallet is stored offline, and it's secure and keeps your crypto safe from hackers. So in most cases, independent reserves, 98 % of them, it's held offline in a cold storage vault managed by the exchange and the rest in a hot wallet in the exchange. So basically, I mean, it's really important to know what the details of the exchange that you're working with and how they're storing your money, how they were doing the transaction, and whether they're an exchange or a broker. And you can find a lot of this information just by their page. policy So be safe with your money, choose wisely when you're choosing an exchange, and don't get caught off guard. The Crypto Camel podcast is sponsored by BetterHelp. I'm at my better self whenever I'm able to calm my mind of worry and stress. It's not always easy to do when I have so much going on in my life. So if you're feeling overwhelmed, therapy can help. A therapist can help you tap into your inner strength and become the best version of yourself. It can help you understand your thoughts and emotions, work through past traumas, and achieve your personal goals. I've personally experienced the benefits of therapy. It has taught me how to manage my emotions and set healthy boundaries. But therapy isn't just for those who have experienced severe trauma. It can help anyone looking to improve their mental and emotional well -being. If you're thinking about seeking therapy, BetterHelp is a great option. It's convenient, flexible, affordable, and entirely online. With BetterHelp, you can fill out a short questionnaire, be matched with a licensed therapist, and change therapists at any time. Give BetterHelp a try and take the first step toward becoming your better self. If you want to live a more empowered life, therapy can get you there. Visit BetterHelp .com slash camel today to get you 10 % off your first month. That's BetterHelp H -E -L -P dot com slash camel.
A highlight from The Bitcoin Genie Isn't Going Back in the Bottle
"Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. What's going on, guys? It is Sunday, August 13th, and that means it's time for Long Read Sunday. Before we get into that, however, if you are enjoying The Breakdown, please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the conversation, come join us on the Breakers Discord. You can find the link in the show notes or go to bit .ly slash breakdown pod. Hello friends, welcome back to another Long Read Sunday. Yesterday you had a very contemporaneous long read that sort of served, I think, in some ways as a weekly recap as well. But today we are going back into the vault, and I am very excited for this. The piece that we are reading was published on December 29th, 2019. It was written by the one and only Nick Carter, and it was called The Cat is Out of the Bag. Bitcoin is Everyone's Problem Now. Now because of some travel this week, I have enlisted a few friends, friends of course of the digital variety, to help me with this read, and I hope you like this little tour down memory lane. Evie, remember, remember, the 5th of November, the Gunpowder Treason and Plot. I know of no reason why the Gunpowder Treason should ever be forgot, but what of the man? I know his name was Guy Fawkes, and I know, in 1605, he attempted to blow up the Houses of Parliament. But who was he really? What was he like? We are told to remember the idea, not the man, because a man can fail. He can be caught, he can be killed and forgotten, but 400 years later, an idea can still change the world. I've witnessed firsthand the power of ideas. I've seen people kill in the name of them and die defending them, but you cannot kiss an idea, cannot touch it or hold it. Ideas do not bleed, they do not feel pain, they do not love. Evie Hammond, V for Vendetta. An exorbitant privilege, Bitcoin is first and foremost a monetary phenomenon. The social climbers and false prophets who proclaimed it as a payments revolution have either come around or been repudiated by the market and washed out, embittered. Most who understood it that way are now moving on to new things. The world did not need another PayPal, the world needed a new monetary institution. As Bitcoin went from a proof of concept to a toy to a joke to a collectible and then to a movement, a few policymakers came to realize that it posed a threat to the established system. Not because of its present form, but because what it represented, a profane insult to the carefully calibrated monetary system. All done in a mocking, insouciant fashion, a band of nerds and ne 'er -do -wells insolently challenging the state's monopoly on seigniorage. Satire is what despots fear most and the rise of Bitcoin made our present monetary system look patently absurd. The visceral hatred elites feel about Bitcoin, perfectly justified. How else would you react to an upstart aimed at usurping your sacred monetary privilege? Such as the potency of Bitcoin that it compels the high priests of US imperialism to reveal the unwritten rules about the role the dollar plays in power projection abroad. In May of this year, US representative Brad Sherman spoke out against cryptocurrency on the floor of the house. His statement laid bare the normally veiled post Bretton Woods doctrine in which the dollar is employed not only a monetary tool, but a strategic one too. An awful lot of our international power comes from the fact that the dollar is the standard unit of international finance, and it is the announced purpose of the supporters of cryptocurrency to take that power away from us. Whether it is to disempower our foreign policy, our tax collection, or our traditional law enforcement. The purpose of cryptocurrency is solely to aid in the disempowerment of the United States and the rule of law.
The Failures of Obama-Biden Iran Nuclear Deals
"Chief Sherman Iranians are pressing ahead so Trump had them on the run he had them boxed and here's the thing Michael Duran is he a brilliant about these things and he wrote a piece not too long ago and he pointed out the Obama deal did something no a the Obama deal with Iran was premised on the basis that Iran would get a nuclear weapon that the Middle East would be nuclearized that wasn't a damn thing we could do about it that we should treat this as some kind of a regional issue not an international problem even though the Iranians don't view themselves as purely regional I mean why ICBMs if that's your attitude and by the way why are bases in our hemisphere bases in our hemisphere if that's your view that it's regional so essentially Obama surrendered and then he had one propagandist after another around him lying to the American people through the media I have this in a number of my books because the evidence came out one of them couldn't keep his mouth shut he started bragging to the Washington Post it's unbelievable and he talks about how the media types were saps, lap dogs, how they would take whatever they put out and run with it just as they are today same dumb bastards so Biden comes any double downs on the Obama policies and more than that all his negotiations with the enemy the Iranians are in secret Congress has no idea what's taking place and he still wants to come up with a deal a verbal deal
Coinbase Takes on SEC With Heavy Hitter Allies in Crypto Battle
"Well Friends, it is no secret that we are engaged in battles on all fronts. Behind the scenes, we've got operation choke point that is trying to get crypto company access to the banking infrastructure to be effectively null and void, plus whatever pressure is being put on market makers like jump and Jane street to get them out of the space, then in front of the scenes we've got dame taxes enforcement actions and as Travis cling so eloquently put it once on this show, Brad Sherman's punk ass. And yet we are not without allies. Today's breakdown is about a couple of those allies, including one that is somewhat new, standing up to fight shoulder to shoulder with us in this battle. Now the first of these comes in the case of coinbase. Last year, coinbase requested information from the SEC quite reasonably, I would say, about which assets are securities and how the SEC makes that determination. Instead, as so often happens, the SEC sent them a wells notice, informing them of forthcoming enforcement actions. So, coinbase sued. They said that the SEC had denied their responsibility to answer coinbase's question in a reasonable manner. And believe it or not, it's not just us bloodthirsty crypto Twitter denizens who are excited about the lawsuit, but some heavy hitters as well. This week paradigm ventures and the crypto council for innovation lodged amicus briefs or friend of the court briefs expounding on the legal arguments against the SEC's current stance. And their amicus brief paradigm said, the end result of this untenable situation is a de facto ban on digital asset trading platforms and a grave threat to a fledgling industry. This is not the rule of law, it is ruled by bureaucratic whim. The crypto council for innovation echoed this sentiment, writing, the SEC failure to respond to coinbase's petition for rulemaking is causing tangible harm to a major American industry. Regulation by enforcement thwarts meaningful participation in agency decision making, deprives market participants of fair notice as to what is permissible and chills innovation and investment in digital assets. Unless companies can rely on clear, consistent guidance, and work within a regulatory framework that makes compliance possible, digital assets will not achieve their full potential in the U.S..
For Crypto, The Partisan Ship Has Sailed
"All right Friends, it has been an extremely active couple of days in the politics of Bitcoin and crypto. First of all, Brad Sherman has just been all over the place talking about how we're all sub human tax evaders and how the U.S. should really be asking whether this industry should be allowed to exist at all. Here's a recent clip from him on Bloomberg crypto. There's this fear of missing out that we've got to keep up with other countries. Peru is way ahead of us and cocaine production, China's way ahead of us in Oregon harvesting. We don't need to keep up on those things and we don't need to keep up on crypto. As for protecting U.S. investors, investors know and they certainly know now that when you send your money to The Bahamas or Cayman Islands, you do not have protection, you could lose it all. And the idea that we should tell investors that something's licensed in the United States when it's not only as dangerous for the investors is crypto is, but as harmful to our country as crypto tries to be, I don't see a reason to do that. At the end of the day, though, Brad Sherman is going to shrm. So no surprises there. A bigger deal was on Tuesday, may 9th. The official Biden potus account tweeted, we don't have to guess what maga House Republicans value, they're telling us. Now that quote led to an image which said, we think Congress should cut, tax loopholes that help wealthy crypto investors, 18 billion. Now one kind of enjoyable thing about this was that people use Twitter's new note feature to add some context that they thought people might want to know. Quote, virtual currency is treated as property and general tax principles applicable to property transactions apply to transactions using virtual currency. When investors sell virtual currency, they must pay tax on any capital gain. There is no evidence of loopholes to avoid this. I think that the particular language used here by the presidential account is revealing. First of all, it shows Democrats getting more comfortable lumping crypto in as explicitly a partisan category.
"sherman" Discussed on THE EMBC NETWORK
"Me, there's all sorts of professionals out there, but you want to fit this professional because there's so much bad information out there, especially this time of year where there's all the fad, diet pills, and books, and all that stuff. But you can control how you feel and how you age by what you do every day. Prioritizing protein at every meal is so important for everyone. It doesn't matter what your age is. Our society, unfortunately, is set up to eat a bunch of processed food and a bunch of crap, which is not serve you on your health journey or your age journey. Let's face it at all. My crisis, my clients, you have to eat for function and for your goals and not for fun. If you want to feel good as you age, and they're like, oh, bam and I'm like, it's the truth, and you have to make time for strength training in your workout. Now women my age, we are brought up, cardio queens, being on the elliptical all day, every day, long distance running. Let's put the put that aside and really focus on hit training for your cardio, but let's get in three to four strength training sessions a week. And if you don't know how, you can always go to my YouTube channel the perfect balance. I think it's actually, I think I changed it to Pam Sherman where I have body weight workouts to start with. But strength training is vital as we get old. I just read a statistic that when an older person falls 40% of them are dead within a year. Yeah, that's scary. Nobody wants to fall. I mean, let's face it. We're all going to die at the end of our lives, but we want to control the quality of our life. And our muscles, protect our bones. So we want to have strong bones as we age. And for those younger listeners, if you're lucky enough, you'll get to be our age someday, aging, we're lucky to H, right? I mean, the alternative is not being here. So what you can do as you age every day is you have a lot of control over how you age. Well, thank you. There's a lot of stuff back there. And I think you've kind of covered a lot of the nutrition piece of that, right? And really the maintenance that will be in an even you talked about some of the key elements that you need to apply. And we'll get into more details. And I love what you said about the younger folks. Because listen, I remember those days and you go to gym and you do everything, you think like you're invisible and I still see people at the gym doing that. And so there's different things that you have to do.
"sherman" Discussed on THE EMBC NETWORK
"A common guest. We've seen her. We've heard her. We've heard her stories and we had a great show, it's almost a year ago already. Wow. Time flies when you're having fun, right? And yeah, she's back. And with some good stuff, new stuff. She'll tell us all about it. And it is in the realm of the fitness and the oneness and the health and we're still in the first couple of weeks of January of the new year. So the discussion of new year resolution is very, I guess, typical in this time of the year. And everybody's committed and now how we do with that at this point, we have to find out and I think with that any further ado, I have with me, Pam Sherman, coach, trainer, fitness, wellness. I mean, she's a guru, she's an expert and she does a lot of work and she has a phenomenal story and so do check the previous show and her also shows and under work that she does. But we'll talk about that at the end of the show. Pam, welcome back. Thank you. It is great to be back. Yeah, listen, you know, when I saw in the count, I'm like, is that something that we did? It was like, yeah, it's new year. I get it. And I do have some comebacks in this year because I mean, at the end of the day, out of sight out of mind, as we say, and we want to keep in the discussion. And you're an expert in what you do and would like to hear more about that. And fitness is part of wellness and wellness is part of witness health. You know, it's all of the above. I mean, and at the end of the day, and I think you said, always, health is wealth. I think that's your one of the lines you use. And it is an important concept.
"sherman" Discussed on How I Got Here with Dave Fiore
"So <Speech_Male> they wouldn't have imagined. Yeah, <Speech_Male> and just cut <Speech_Male> back everywhere. I could. <Speech_Male> And did <Speech_Male> that for a little period of <Speech_Male> time and things started to <Speech_Male> recover in 2012 <SpeakerChange> and <Speech_Male> 13. So yeah. <Silence> <Speech_Male> Well, you're <Speech_Male> here. You made it through. <Speech_Male> Yeah. All <Speech_Male> right, two final <Speech_Male> questions. One <Speech_Male> is Sherman looking back. <Speech_Male> What is the one thing or <Speech_Male> person <Speech_Male> that changed or <Speech_Male> altered the <Speech_Male> trajectory of <Speech_Male> your life to this <Speech_Male> point? I remember <Speech_Male> <SpeakerChange> one day <Speech_Male> after church, <Speech_Male> we were <Speech_Male> outside of the church building <Speech_Male> and my friend, <Speech_Male> his dad, <Silence> was said <Speech_Male> something to me. <Speech_Male> His name is Harold. <Speech_Male> He said, well, <Silence> <Speech_Male> you know, we go through this <Speech_Male> life only <Speech_Male> one time <Silence> and you want <Speech_Male> to make the best <Speech_Male> of it or <Speech_Male> something to that degree. <Speech_Male> It's not exact <Speech_Male> words, but <Speech_Male> that was like, <Silence> 'cause <Speech_Male> at that point <Speech_Male> in time, I was like pondering <Speech_Male> about like, am I going to do <Speech_Male> this? Am I going to <Speech_Male> take this step or going <Speech_Male> into the adding <Speech_Male> of my own space and <Speech_Male> am I going to really <Speech_Male> fit in function or am I just going to <Speech_Male> move the Miami and just work <Speech_Male> for a corporate <Speech_Male> facility gym? <Speech_Male> 'cause I had the opportunity <Speech_Male> as well. So <Speech_Male> he said <SpeakerChange> that and I was <Silence> like, <Speech_Male> okay. <Silence> I <SpeakerChange> got it. <Speech_Male> I'm gonna need to go for it. I'm <Speech_Male> gonna do it, yeah. Right. <Speech_Male> So <Speech_Male> that's stuck up. It's <Speech_Male> like out of my mind. <Speech_Male> <SpeakerChange> This whole time. <Speech_Male> <Advertisement> Yeah. Yeah. It's amazing <Speech_Music_Male> <Advertisement> sometimes help people <Speech_Music_Male> <Advertisement> can just make a <Speech_Music_Male> <Advertisement> comment. Yeah, <Speech_Music_Male> <Advertisement> they can really, <Speech_Music_Male> <Advertisement> you know, they <Speech_Music_Male> <Advertisement> really sticks to you for some reason. <Speech_Music_Male> <Advertisement> People say stuff to us <Speech_Music_Male> <Advertisement> all the time, but <Speech_Music_Male> <Advertisement> certain things <Speech_Music_Male> <Advertisement> really sink <Speech_Music_Male> in for some reason. <Speech_Music_Male> Final question, <Speech_Music_Male> this <Speech_Music_Male> podcast is named <Speech_Music_Male> how I got here. <Speech_Music_Male> So we've talked about how <Speech_Music_Male> you got to this <Speech_Music_Male> <Advertisement> point in your life. <Speech_Music_Male> Where do you think <Speech_Music_Male> here might be for <Speech_Music_Male> you in three <Speech_Music_Male> to 5 years <SpeakerChange> from now? <Speech_Music_Male> That's a hard <Speech_Male> question and I <Speech_Music_Male> really don't like answering <Speech_Music_Male> those questions. <Speech_Male> <Speech_Male> Because I've <Speech_Music_Male> learned through the <Speech_Male> years that life <Speech_Male> deals you <Speech_Music_Male> hands <Speech_Music_Male> that you may <Speech_Music_Male> <Advertisement> not be <Speech_Music_Male> <Advertisement> prepared for it and changes <Speech_Music_Male> <Advertisement> your direction. <Speech_Music_Male> Which is okay <Speech_Music_Male> <Advertisement> and I'm okay with that <Speech_Music_Male> completely. <Speech_Music_Male> I guess I can tell you like <Speech_Music_Male> my hopes, <Speech_Music_Male> but <Speech_Music_Male> <Speech_Music_Male> I'm not going to <Speech_Music_Male> come back and <SpeakerChange> say, look, <Speech_Music_Male> you are wrong. <Speech_Music_Male> <Speech_Music_Male> Because <Speech_Music_Male> things change every year, you <Speech_Male> know? Sure. <Speech_Music_Male> But I <Speech_Music_Male> would say <Speech_Music_Male> <Speech_Music_Male> right now, <Speech_Music_Male> ideally, have <Speech_Music_Male> <Speech_Music_Male> just continued growth <Speech_Male> at my current locations <Speech_Music_Male> and <Speech_Music_Male> growing <Speech_Music_Male> my staff, getting <Speech_Music_Male> <Speech_Music_Male> a recovery program, <Speech_Music_Male> which we're <Speech_Music_Male> about to add in that new category, <Speech_Music_Male> really push <Speech_Music_Male> that forward <Speech_Music_Male> within functional <Speech_Music_Male> and hoping and <Speech_Music_Male> having actual <Speech_Male> another I can license <Speech_Music_Male> PT on <Speech_Music_Male> staff as well as <Speech_Music_Male> a goal <Speech_Music_Male> within the next couple <Speech_Music_Male> of years. It's been a go for <Speech_Music_Male> a while but I really want to <Speech_Music_Male> try to make that happen with the <Speech_Music_Male> next year or two <Speech_Music_Male> to help push <Speech_Music_Male> some other <Speech_Music_Male> <Advertisement> programs that we're working towards <Speech_Music_Male> as well.
"sherman" Discussed on How I Got Here with Dave Fiore
"You've mentioned some of the certifications that you've gotten over the years, but from information I found is mainly from your website is strength and conditioning coach, personal trainer, of course, flexibility therapist, wellness coach, running coach. Some other ones too. But I mean, are all those, how do all those help you in working with clients and is it something that you continue to pursue? I don't know how many more certifications there are, but tell me about your, it seems like you have a real desire to be as equipped as you possibly can to help your clients, to me about that thought process, how that all works. Yeah. Yeah, it all comes together in some of the certifications. They can be used to really specialize in and see work with a certain population. It helps me be able to face with a situation with a client. They may be a runner with a certain limitation or injury that you're recovering from. So being a flexible therapist, my background in PT, being a certified running coach, I could help them on multiple levels. Beyond just stretching them out and working on core conditioning itself. So all those are tools, like when even as a certified trainer, you have to go through continued education to maintain your certification. So a lot of times you're getting these additional certifications as part of maintaining your main expectation. That makes sense. So you start building things on your belt. Okay. So what do you enjoy most about what you do? I enjoy their quote unquote freedom of being an entrepreneur, right? Well, let me ask you about that. I meant to ask you about that before. You know, there's a great book about this and written called the E myth. And it's just because you're good at what you do doesn't mean you're necessarily going to be good at running a business.
"sherman" Discussed on How I Got Here with Dave Fiore
"But I let that go a lot in high school, though, because we were writing so much. And actually, when high school ended, I quit running for a while and just worked out all the time. I put on quite a bit of weight on post high school. I was like, one 32 when I graduated from high school and I first ran out of my first year in college, I was like one 50 or something like that. So I started doing personal training in the evening times. Like, I would go get my internship at thomasville, Archibald, drive back to Tallahassee and see three or four clients in the evening time. So when did it click in your head that you might be able to have a business doing that? Yeah, that's personal training. That's how I all came together. You're finishing peaches, school, and things like working out completely as planned with that. And then you're starting working at plantation health and wellness and getting certified. And then working internship and thomasville didn't training sessions in the evening. When plantation health and wellness became before it became premiere, Len Harvey, who just retired on that long ago. So he was my boss at plantation health if it is like one day he brought me into his office 6 o'clock what do you want to do at the new gym when it opens? What's your role? What do you want to like? How do you want to be a part of premiere health well clubs? Well, actually, I don't want to be a part of today. I'm sure that's not the answer. He was looking for. He was easygoing guy. So I told him what I wanted to do. I was like, I want to do this whole business thing where I might version a gap between rehab and fitness. I'm using my background and PT and orthopedics, which I love and then bending the training is like, I just want to do this business called fit and functional. I think I heard it. I already came up with a name. It took me a while to come up with it. It fit and functional and PT in the whole physical therapy world. The whole goal is getting its function. Getting your patient back to the highest functional level before the discharge. So that's how the whole name came about fit and functional. So and that was like not long after that is like I kind of knew that I wanted to work towards this whole goal of starting a business of my own and having it be in rehab and fitness. So you're kind of just marrying the two things you were interested in with the business side, which you didn't give up on, right? And then you've learned so much about the fitness and the PT and all that stuff. Exactly. It would keep you to do that. So in 2000, you founded Fenton functional. Exactly. So what did it look like when you first put out your shingle for the first time?
"sherman" Discussed on How I Got Here with Dave Fiore
"But here in Tahoe, you didn't see a whole lot of black guys in the mid 90s with dreads. Right. So, by the way, I was working at the grocery store and they started doing these drug testings and my name came up a little bit too often for my liking. They were supposed to be random. Yeah. Yeah. Like every Fremont to whatever. So even though I had drizzle, I was like, the clean cut kind of conservative in dress and whatever type of kid. But anyways, after that course at a time of this, the first time it happened and then the second time it happened, there was a woman who was a customer who came in pretty often. Her name was Connie. Her and her brother owned a restaurant called the white swan. So one day she came to the line and said, hey, I love your demeanor and so if you ever want to work as a server, here's my card contact me. And I don't know about where you're waiting tables. That outgoing person to like. But anyway, so I kept her information, and then after the third time I was called for this random drug test, like within like 6 months, I was like, whatever I'm out. And not because I was trying to hide anything. I didn't want to be treated in that way. So somehow your appearance specifically your hair led people to think you were more likely to take drugs. Exactly. Yeah. That makes sense. Yeah. I mean, it doesn't make sense. So that was like the final draw and I said, I'm leaving whatever I was going to quitting. And my supervisor, I can't remember his name right now. But mice dude, nice guy. He said, oh, we don't want you to quit.
"sherman" Discussed on How I Got Here with Dave Fiore
"And wellness studio with two locations in Tallahassee. Sherman's interest in fitness was born as a runner at Cobb middle school, where he had the chance to train with the Lincoln high cross country team. He would go on to study physical therapy at Florida a and M university, and become a personal trainer. Developing a hybrid approach to wellness, the focus is on general fitness and also helps those with limitations. His interest in business was piqued after working summers with his grandfather on a hog farm, and in his stucco business. While he appreciated the experience, Sherman decided he would rather be the person riding the checks. His path took a twist literally in high school. When he felt his decision to wear dreadlocks, negatively impacted the way he was perceived, both that his jobs at a grocery store and fine dining restaurant, and later as a student in the fami college of business and industry. Sherman is weathered the storms of the Great Recession in COVID shutdowns and continues to follow his dream to make Tallahassee a little more fit and functional. We began our conversation talking about growing up all over Tallahassee. I have two younger sisters. It's kind of a, I guess, a longer story than that. My mom was remarried when I was 5. I didn't grow up with my biological father. I kind of knew him, but not that well. I only saw making a couple of times in my at a very young age. So my mom was married when I was 5. I was adopted by that father when I was 13. That's how I got the last name Rosie. That's not my birth name. But he had a family prior to marrying my mom. And so it has some brothers and sisters. So what do you remember most about those early years of your life and childhood and elementary school? I mean, with me, I was like, again, I'm moving around a lot. So it's kind of adapting each time to your new environment and just kind of like figuring out as a kid. Like who you are, so to speak, someone that's under the age of ten. A lot of self awareness there. Yeah. Was that easy for you to go from school to school and make new friends and. I think the hardest transition. I mean, the first year from kindergarten to first grade, that was a move. It wasn't that big of a deal because I was going from kindergarten and not really in kindergarten. You're doing building blocks and whatever, I'm not sure, but that wasn't that big of a deal. I guess the biggest transition was when we moved from the south side over to what about middle school, where'd you go there? Middle school was Cobb. Cobb, cop cubs. For most kids growing up in middle school was that big transition as well going to the 6th grade.
"sherman" Discussed on Strong Opinion Sports
"I don't know. To me, honestly, my reaction initially when I saw that they were signing Richard Sherman to me showed how desperate Tampa is in their secondary they are so banged up. There's so many injuries in their secondary. However, I will say, even though I am very hesitant to praise this move and say, it's going to be amazing, oh yeah, even though I'm a little bit hesitant, I do also acknowledge that it is a good fit. He's a veteran. He's been around the NFL a ton. And the culture in Tampa, not only because of Tom Brady, but the attitude of Tampa, the way they cater to veterans and they work with their schedules and, hey, if you want to take Wednesday off to keep your body healthy, they're really good about taking care of veteran players and catering their approach to every player individually. And Richard Sherman is not totally useless. He's not the athlete he once was in my opinion. But he's really smart. He still has good technique. It's all like he forgot how to backpedal. It's not like you forgot how to keep a guy in his hip pocket or when a quarterback's about to throw the ball or the little tells. The mental side of the game and everything that Richard Sherman can possibly control, you know he's going to do it to the very best of his ability. And again, I do think that because of Tom Brady, that's a really good environment for a player like Richard Sherman to do well. They're in a position to squeeze the very last good football at a Richard Sherman. And it's a developing story. I am very, very curious to see how Richard Sherman in Tampa will affect that football team. And how good is he going to be? I don't know. I really don't know. But I have an open mind, and it's certainly I think he's going to put his best foot forward now. How good is he really? I don't know, but and I'm not, it would be disingenuous of me to make bold claims that he's going to do this and that who knows..
"sherman" Discussed on True Crime Garage
"Kid that that has certainly crossed our minds but could be. The one kid has certain disabilities. I mean anything is possible. The more we've talked to people who knew her more. It seems like the abuse was pretty severe. It seems like you know. Even their mother probably knew a lot of these cases they know in. There's nothing they can do or you know. They're also abused again. These are all allegations. I'm not saying sure did this. This is just what we have heard from multiple people. We've thought about him as a suspect and the thing that we just keep coming back to is. I don't think that he would have wanted this attention. They really seem to recoil from it and not necessarily in a way of like we did this. It seems like they really just do not want this attention at all. They have never spoken to media. They've never been a part of it. They kind of wrapped it up and it was quiet and again that could be because he knows some dirty things are going to lead back to him or again because they're quiet people and he just wouldn't murder his daughter because he doesn't want all this attention is something we really ought about. I don't care who you are. Nobody wants to be known as in incest driven sexual predator. And so one thing that we see here in this case is the potential of a possible cover up and the reason why bring him up. You know there's another cover up possibility that we're going to quickly get into and move along to hear but was sherman in relation to him if there were to be another type of cover up if she was killed you know. That's one of the leading motivations for murder in anywhere is to cover up previous crimes and if in fact sherman is guilty of the rumors that you have heard then it seems to me like that would be something that he may want to cover up. Maybe he went there that night to try to reason with her or threatened her to keep her quiet or to collect those tapes. Maybe she threatened him. That's one thing that. I think we haven't really touched on much. Is you've odd personality. She didn't seem to me to be much of a take. A lotta shit. Kind of she was not she was feisty would be a very polite in-kind way of describing. Yes oh so. We have found out through reporting. That novon was scammer. In a sense she would shake people down so the idea that you know. She was threatening her dad. To expose him is very plausible. Maybe she did catch something on that camera and he went over again. He puts himself there that day. I have no idea where he was that night. Of course we don't have any recorded interviews with him from the police so that's really helpful when trying to go back to this investigation there is not a single interview with him so we don't really know where he was that night what he was doing at all and one that doesn't sit well with me about sherman..
"sherman" Discussed on Sounds Profitable
"An article earlier. This year about dynamic ad insertion which linked to in the description. I use an awesome live demo. From the company a million adds to really showcase how deep you can get within magadan and content insertion and give you that hands on experience. So i reached out to brian. Sherman spelled with an i of course from a million adds to talk about the technology and the passion behind bringing dynamic ad insertion and dynamic contents into the future of the audio medium while brian. Thank you so much for joining me on. Sounds profitable thank you. I really appreciate you inviting me to join. I'm really excited to be here. I know we've spoken quite a few times over the last couple of years. So excited apple. Podcast yes o'brien's from a million ads and we did an article all about dynamic ad insertion and who is really important for me to paint the picture of how it works right. It's this piece of technology that is show critical to the growth of podcast. Attack now podcasts. Advertising will survive. It will grow no matter what the podcast ad tech focuses on deciding at the time of requests what ads or what content to place into an episode to give everybody. Who's requesting something. The chance for unique episode and i wanted to show the most hands on example. I could and brian a demo for me forever ago. A million ads the platform basically feels like mad libs for audio creation right except an audio bed in the background. You said different parts of the script you set words that can be replaced and the best part is the demo aspect which when you send somebody that link they can set all the pre configured things right you can say i am in the us. It is the morning. I am connecting from an iphone. So you can determine and experience the full dynamic ad insertion from any of those end points. And i was just really blown away. That a million ads which is dynamic audio Had this tool. When not a single company. I know indirect streaming brad serving has it or for podcasting and it was just so interesting to see this and i just had to to shine the light on it. So you know bryant. Thank you guys for making that. That's got to be such a big hit when you're explaining to people. I think what. I loved about what you did with that is. You actually took it a step further because a lot of times when we think about dynamic audio we're thinking about it in the lens of a fifteen thirty sixty second ed unit. You push the envelope. Which i love. And that's what that's really what we've created. Is that like. There's so many different types of things you can do. What you made was dynamic audio content in a way because the actual content. You're listening to the podcast itself was dynamic. So you're different things based on where you were. What type of device. You're on what day. It was which i thought was a really interesting use case i think overall. That's what really excites me about a million ads and what we're doing here is that there's so many creative ways to apply this technology. I am constantly chatting with you know. Publishers brands partners in their even pushing us to think about it in different ways in different forms which is really exciting. So i thank you for taking what we've created pushing us to step forward ago. Wow we've never applied it like that but that's actually really interesting because that opens other doors and other different types of thought processes around dynamic in general. Yeah i appreciate that. I mean that's my entire goal would sounds profitable. I get that sometimes. I'll come up with these ideas or these use cases that like four people really care about what the goal is to just get people thinking about outside the box right because these spaces audio overall is moving so fast and there's so much opportunity ahead that we're not even optimize yet. I really don't feel that way right. I failed a campaign. You can easily do a make good and just get rid of those impressions can say sorry. And there's available inventory. You're not going to sell out anyways. Right failed optimization field attribution. There's so many ways around it. Because we're not on percent phil and we're not flooded with advertisers yet right every day. We're getting imminently more inventory than we have available ads. So there's room to fail forward and ask for the next thing with tools like this and the things that i'm trying to bring forward are really just like what happens when we get those constraints today. You might not need something like a million ads for every one of your ads or any of your ads. But what happens when an advertiser says you will. what's unique. Why are you charging five dollar morris. Ten dollar more cpm. I don't actually think your host is that much more impressive. I don't think your network drives that much better value than anything else you can say. Well we've been dabbling with this tool. We've been thinking outside the box. You're starting to think about it on planting the seed. That's the whole goal. Because how often does somebody gets to be like why i find ad tech interesting and let's play around with it like it's legos and that's i just wanna get people thinking about it because it is. It's it's fun. I think when you when you think about audio and what's happening in the landscape is it. Seems like there's a new massive podcast network podcast company individual influencers celebrity getting into the podcast world. So there's no shortage of content that's becoming available to everybody. I think what you're starting to see. A sort of a couple of main player starting to emerge that they're sort of buying up their own content their own tech stack their own exclusive contract with whomever might be so. You're starting to see these big players start to consolidate the space. I think what comes next now is going okay. We put all these pieces together. Now how do we get the most out of them because now we have all the pieces that we need. We can connect them all with one single thread because it's now under one house i think podcasting is just getting started as you said. They're not squeezing everything out of it that they can at this point and i think part of that is it was mostly smaller. Teams starting to build content hubs or podcasting tools or attribution metrics and all these things and they're just focused on the piece that they're focused on so now when you have bigger bigger companies coming into the Into the picture you're able to start going. Okay how do we get more out of what we have in continued building for the future. So that really think dynamic audio plays really well into that and you know part of the things you were talking about is you know. Maybe they're they're not feeling they're ad spots at one hundred percent capacity. Think you actually wrote a. You wrote something about that. Was either this week or last week about saying. Hey and now a message from our sponsor or you from this brand and there's actually no message kicks right next to the cockpit. So i think what you're going to start to see is i think. Part of the challenge with podcasting. Now it's it's not a heavy lift. It's just a very manual process. It almost seems like you're going to one by one one piece by one and and that's good for these smaller. Sometimes these brands that are just more nimble and able to sort of execute on a smaller scale. But when you get to the massive dollars in you know the biggest fortune twenty or fortune fifty companies that are throwing massive amounts of money into a specific space. Podcasting is a little bit of a challenge because it's so manual and you need to go bit by bit by bit. You can't come up the massively scaled campaign because.
"sherman" Discussed on Around the World in 80s Movies
"But it's still was a respectable effort to try to continue the story of the freelance but poltergeist three from its inception really was wrong headed. It was a studio cash in while they were still embers in the fire the lackluster quality would already have watched the last flickers out if it wasn't for the tragedy of a rock and all of the production problems that plague sherman throughout this film. Smoke and mirrors really cannot disguise that poltergeist. Three is a poorly executed. Ill-conceived excuse for scares for most people especially worthy of a straight to video. Release outside of these nifty camera tricks. It really is difficult film for most people to watch. And outside of the unfortunate demise of the child star. It's close to impossible to really remember much of it long after you see it so for all of this. I can only give poltergeist. Three objectively one and a half stars out of four one and a half stars on ice kilometer. Do you think poltergeist. Three is poor movie and not one. I would recommend to most people it actually has. It's sheriff dancer is a cult audience for this. But i can say that about just about any movie of the nineteen eighties and eventually finds its audience. I don't care how bad the film is. There are people that usually like it mostly people who saw it when they were kids. So what has stars really is. Honestly the best. I could give poltergeist three now. Even though this effectively killed the franchise at this point the french actually did continue on maybe not necessarily in film form in fact as early as january of nineteen eighty nine poltergeist. The series was announced as a possibility for a syndicated show it went into development but it was actually never made in the early nineteen ninety actually was discussion of perhaps doing a fourth poltergeist film. This time it would be a prequel showing reverend canes rise in his earthly demise. Eventually but that actually didn't go anywhere either. By the mid nineteen ninety s showtime started running seasons of poltergeist the legacy which would also be followed by one season on the scifi channel so four seasons of that show. The show didn't actually directly tie into the movies. Although gary sherman did get hired for the one thousand nine hundred seven season including writing and directing one of the episodes he was executive producer for that season and there remain mostly dormant until two thousand fifteen. Somebody decided to create a sub-standard remake of the nineteen eighty two film that starred sam rockwell. It's a movie mostly for cotton even though it only came out a few years ago forgotten so much that in two thousand nineteen just a few years later the russo brothers who were given free rein essentially to remake just about whatever they wanted in the mgm back catalogue. They were considering bringing back. Poltergeist media new movie probably a tv show and that's where it has remained in limbo ever since there's not a lot of new news. Other than the fact that they have the capability of making poltergeist and the desire if they can think of something unique to do it so we'll be posted ice again. Well there's probably a good chance given that it has name recognition but whether they can make something good out of it at also will remain to be seen. I'm hopeful someday. We'll see a return to the glory of the original phil. That's it for the poltergeist series. If you have your own thoughts on the poltergeist films that you want to part if you want to really champion poltergeist. Three s worthy film. You can do so by writing to me. You can find my contact information on my website. That's a quick stir dot net key w. i s. t. e. r. dot net leased to my twitter feed facebook. Page my instagram also. There you can get in touch with me any one of those ways. I do think that email is the easiest way to get in touch though as far as what. I'm going to be doing next week. Well we're going to continue on with a little bit of the haunted house treatment. We're going to go back actually to the nineteen seventies for the next show. One thousand nine to be exact four. The original film of the amity ville poor so check that out if you want to keep up with the reviews for the next episode and that will actually kind of kick in eventually to the other show that. I'm going to be doing to the nineties. And beyond we'll be companion program to around the world in eighty two movies a lot of the movies that i stopped at the end of the nineteen eighty s that continued into the nineties like the batman films and other things. I'm gonna be doing those films very much in similar format on to the nineties and beyond and the reason why it's called ambience because it's not going to be strictly films of the nineteen nineties sometimes as we do with eighty show. I'm going to continue on with some of the newer movies. That tie into these franchises that were done in the eighties nineties. So along those lines it could be kicking off. The first official episode of to the ninety cent beyond with a franchise is just getting remade in theaters and on hbo. Max the mortal kombat series. We're going to go back. The original nineteen ninety-five mortal combat. From paul w s anderson and considered by many people to be the greatest video game adaptation of its era. Maybe of all time. I don't know we'll get into that if you're interested in eighteen ninety s and you have not subscribed to the quitter film review. Podcast doing courage to go to quit. Dot net and clicking the link to to the ninety s beyond and getting that subscription ready for what is about to come. If you're ready somebody who follows equipped through film review. Podcast in your podcast player. You won't have to do anything. It's just gonna get replaced right there in your feed nothing more than you to do to get those episodes when they come out. I'm really looking forward to that. I hope you're excited about that too. But until then we still have the eighties to continue. And for that. I do thank you for continuing to join me on this journey.
"sherman" Discussed on Around the World in 80s Movies
"Welcome to around the world in eighty s movies..
"sherman" Discussed on Long Story Short with Megan and Wendy: The Podcast
"I'll watch it this week. I know me too so you talked a little bit about the spring movie. You have coming up. Can you tell us what else you're currently working on so besides those the the one for spraying the one next winter. I have a christmas movie. That didn't quite make it in time for last year. So we're making it. For this year's i already wrote it which is cool so i don't have a christmas movie. Comey not high profile as a holiday. But i think it's just a nice little quickly. And then i have to very high profile projects that i cannot talk about are both involving Sort of name people and things ask anything on or things. No it's it's okay. It's okay so you know until everything's always under the vest until it's not in inner soap I'm really excited about those. What's fun is that there's a whole team In new york city for hallmark. And it's really been fun to kind of work with them just we. We all feel like we're kind of you know we're all the east through doing thing and has been really great. And then i saw a few like pitches in development and then every then people have a couple of rewrites. Maybe that i may might do so. I'm like usually have like eight things on my desk. And right now have four. So it's it's it's on purpose though just trying to take a breath crazy crazy crazy so but in a good way for it but i definitely need to have a little bit of balance. Yes that was my word of the year. It's not going so well. I'm just forcing it. Because my i starting to not started feel that well and not just from stress and everything and i know that's one thing i'm so grateful for all this work and the sort of a hallmark success at the same time though you know i i worked myself into the ground in there has to be a work life balance especially when you have kids and yes. That's kind of trying to balance it all this year. A little bit better. And where can people find more from. You is the best place for them up with. What's going on. So i am not the best about my social media. I usually when something's coming out. But i really back on their posts stuff though i would say. Instagram is okay. Because i think it's julia sherman wolf a as julie in underscore sherman underscored wolf and then Twitter is at sherm will. And i do a lot of life tweeting when things air jay but i i. I'm sorry go ahead. Yeah this is generally not around on twitter. I don't really have time to like maintain it but but yes we're things air. I'm there for sure Yeah i'll be around. And i always try and engage with as many people as i can and it's really fun to engage with the actors to who also usually live tweeting as well and that's you know it's funny because the east coast fee is easier than it's like now. It's midnight in the west coast. I'm like i don't know if i can do this again. You're gonna have to come out on the east coast fees. It's i do watch in the east coast. Feed is the friendly app and everything assets in east coast time. So yeah perfect. Yeah that's pretty much it. And then there's a i do have a facebook page jewish german wolf writer and i kinda post that every so often. Tim i should be better at it. But it's just a time. Suck if once i get on instagram. Start caring about that. It's really hard to it. Takes a long time. I don't know how you do it like it just takes a long time in. It's really hard to maintain that social media presence. It's definitely a big hall other job. This was so fun. I can't thank you enough for joining us. I'm so glad you agreed to do this. So much for having me really appreciate it so awesome. We're gonna leave links to everywhere you can find julie in our show notes. You can also have we sung. Its praises often but the hallmark checklist app hallmark. Movie checklist app. You can search movie and it will let you know when movies are airing no past movies. You can find them so you can catch. You can record them. You can watch them and thank you for listening to this episode of the podcast as always if you enjoy this. We would love it if you leave a rating and or review. Of course we love them but it also helps people find us in the apple. Podcasts community until next time have a great week by by..
"sherman" Discussed on Long Story Short with Megan and Wendy: The Podcast
"You know healthy. And it's always there's always some issue right upstairs. And his his the learning. We've had called his little annexed. his little. Learning annex is right above my office and there's always something and then when it's time for lunch i usually try and have them make his own lunch. But then you know. I'm here and he wants the i have to go make him go recess. Go down to the basement in workout or does something. And i just can't focus in on my own screen the the way i normally would have before we had the house to myself and my husband generally has been out teaching. I would say last last spring when everything happened in everybody was home. That was more challenging. But now he's mostly teaching at the school Right now he's his classes quarantines of he's home right now i can hear him and he's and he's loud to is not he's got that you know and he's he's chipper and he's trying to engage them right riot he teaches history. I don't know what your husband teaches. English and history in middle asia. So he's now saying they say he's eighth grade students know how funny so yes. He's got that whole thing going on. I liked my alone time. He to say and i don't. I am every single day. I'd say. Oh i finally have a day where i don't have to work like i don't have a gun to my head and i'm just gonna putter around the house. That's the day someone's corentin. Someone has to be remote. And so that's it's just that time. I need like four hours. Focused time with no distractions to really get that good work in for the day and that's the hardest part is just getting that for hours or so and that's and i worked for much longer than four hours a day because i was different stuff going on at the same time but to get that chunk of really solid work. That's the only that's the big change that happens just hard to get that. Yeah i go ahead when i was just say. I can't imagine being under a deadline to get something finished and not being able to focus your time on ad. That must be all so try being like well well well out of college age but then pulling all nighters to that's ends up being like so i'm a i'm not young anymore and pulling it on either is not recoverable. I've done them. I've done a few actually last two weeks. I would say. I had a couple of really late nights like two three. Am working to get stuff done. And i just. I just can't bounce back the you had to. You know it's just hard so i mean but that's just part of that's part of the trade off is no i get this amazing wife i get to do. I get to work at home and all that stuff but then ever so often it just my friends no s a here like it's hard to get me to do stuff because i'm usually working well into the evening. I decided to take a little bit of time. To sort of i work load was really crazy and i'm trying to make it less less crazy to take on less projects for a while to sort of calm down a little palm everything down a little bit. So we've noticed. A shift in the types of stories hallmark is writing a little bit more diverse stories in terms of the lifestyles of the characters. And that's something that we're very much in favor of. Were celebrating that when we see it. And you feel like this gives you a little bit more freedom. When you're writing yeah -solutely it's just. It's just great. I love it and my my biggest note used to be the old regime used to be that my characters are too snarky sarcastic and to pull back on that and that's not really a note. I'm getting anymore which is great that's I prefer have my characters have a little bit of an edge and be funny and His comedy is sort of where my background is. So i prefer that and then also the the stories begin. Tell they broadened the kinds of stories that we can tell as well like. I have a couple of hitches. That are into them that have to do A couple of dealing with infertility. Because my husband and i dealt with that. And that's nothing. I've ever seen on hallmark yet and Just just more monreale stuff. That could still be fun and light and hallmark but just dealing with a little bit more reality but still what people love about. Hallmark is sort of that escape from reality. So certainly not gonna be. I'm not going to write anything like the old school made for. Tv very special presentation. You know i'm not gonna write the emmy winning tv movie about cova that's not. That's just not. That's not what i'm here for. And that's how i feel like that's my job. Marcus for they want. They want the happy ending. And i think a lot of i actually take a lot of pride in that. What we have done is an escape for people right. Now that is sort of this bubble of normalcy and happy endings. Because right now everything else so up in the air so i. I'm very proud to be part of that escape for people. I'm certainly not going. You know so while we are while our movies have more realistic edge to them and tell you know obviously show the world the diversity. That's all around us that we that is real. We also still are aware that we are here to if people that little to our brave yet i we. I think we can definitely appreciate that right now. i'm known for loving escapist tv. Because i'm a big baby. I need my tv to be kind of like visual prozac. And my husband wanted to watch the hunters that hunters show. And i can't deal with like nazis violence right now. I need to watch the office. I'm i'm just watching and my son's now watching it with us. Which is hilarious. It's fun it's so funny to see him watching the office because we can he gets it. Now it's just very fun so that's what we're doing. We're completely avoiding conflict like dramatic conflict and violence. So yeah okay. Well you mentioned before we started recording that you first of all taking a shot at love was the first movie in the new year new movies slash winter fest series. And when in. I i honestly can't remember what i read it but i do know that as we finished the series. We both agree. That was our favorite of the five. We loved it. They rate one liners. And you were kind to listen to that. And i've just pulled up my notes as i said but i understand. You might have some thoughts for than some of the questions we have while you if you have utah. Maybe you can tell me like what you're burning questions were if you go back but i remember one of them was. Why isn't he staying at a hotel. So i am going to look at the script because i'm almost positive that i have a line in that script home. Leave it and if i didn't it got cut see now entirely possible. I'm gonna look at it right now. Is entirely possible that there was this line and then it did not make it into the final edit. I'm gonna. I'm going to do a search for the word hotel here we go. Let's see i. I don't know if this made it in there but the line was he says. Are you sure this guest house is good at the hotel is agents says trust me. It's better and he says why isn't it already booked up like the hotels are because i had at the hotel we're all booked in That makes so. I don't know if that line made in an inch possible that we skated over that one line. So they're not it's not. You know the the beauty of a hallmark movie isn't you do not need completely laser focused on it like watching like christopher nolan movie where you're gonna miss your so you need you know i get that people are mostly doing something else are on their phone watching the movies but yes. That's that that was the answer that question. And i don't know if it's still needed but that's the answer. The other reason that i give the joke answer. Why isn't he staying at a hotel and the answer is because there wouldn't be a hallmark movie of course i'm going to like when when when i hear reviews sometimes i laugh because it's like well you know i always say you know. It's not a documentary so obviously there has to be a buy in to the situation so i mean we have to get them to stay in the guest house. That's the thing about it right so we try and get through that the why of it without spending too much time explaining because it's sort of a by you just want to be like yeah okay. Well it's convenient. That's what's happening. That's like we try to explain it and not have plot holes but at the same time. We don't want to spend an entire page explaining that the hotels booked in raven..
"sherman" Discussed on Long Story Short with Megan and Wendy: The Podcast
"So it's it's not a big secret that one that's all that one's not a rewrite. That's just an original and then the one they're shooting in march is actually gonna be for next winter for that winter fest. I know i did not like the new movie new year. I don't know where that came from. But i call it. Winter fest still appreciate his ass. When i was a little harsh but to me it's always going to be winter fest in my heart. That's why i stole winter fest. Put it in as avon winter fest. Because i'm like well winter fest still a cool name so i'm using of it stole it and i used it and now now convincing the mayor of avon who i'm friends with to make an actual avon winter as we don't have one. I'm like i told her. I'd like you have the perfect thing now. Make it happen. Make that happen. I want to fly out there and he wants to go to. La orange county. Just south of la. Okay all evening. We miss is our annual passes at disney but not not them right now but not now that was. My son. Basically drew up there now. That eliminated them altogether. They've sunset annual pass program. I'm sure it'll come back ever well. They are refunding. Everybody and i think the issue is reopened. They're going to have to reopen in stages with smaller groups. And i think trying to manage the annual passes we believe kind of ruined disneyland a little bit and so i think they just need a fresh start and trying to manage as million annual pass holders while trying to regulate crowds would like a logistical nightmare. So you know what you killed it. And i know this is off topic. What what they messed up was letting people do payment plan because everybody can do it and then you showed up in like you know people would show up for two hours and Repacked he has you know their daily walk on main street. Yeah myself included. I mean we were guilty of that but it became it got to the point where there was no down. There were no off days. There was a time the only day off day was rain and that was my favorite date ago. Yeah we sunday mornings where our favorite was the only kind of couple hours of quiet and that was really it and we would have to get five thirty. I guess jeter. There's nothing better than like empty main street. It's yet as thing for. I do miss that anyway. Back on topic. So when you're creating these movies how involved do you get to be with the production. Wants the script is written. It just depends. Yeah it depends on who it is. If it's a producer that i worked with before they know that i prefer to take the strip all the way through production which i'm doing right now with the one. There's just about to start. Where even the directors amazing in. It's this woman. Who is a canadian woman who i love and we just we just hit it off so great and you know. She's wonderful because any time she's about to change any dialogue has a question. She comes and asks me in a lot of times. They'll get these directors who just cannot be bothered with the writer and we'll rewrite whatever they want to rewrite and then i'll watch the movie and be like wait. Where where did this come from. And there's a couple actually. There's one line. I'm going to say which line it is. There's a line in taking a shot at love. That i did not write that i find fringy and it it. I'll tell it to you off way but that was the one thing that the somebody else wrote that i didn't i was not involved in and i. It just makes me a hate it so you know it just depends. I've had i one movie. That i turned it in to the network and i literally never heard from anybody again until air and the director took a pat like wrote. Did a pass on it and rewrote a bunch of stuff and i was like well. I don't know you know this really. isn't i. consider it my movie at this point but whatever and so just it really just depends. I prefer the people that i like to work with and there's most of them are have wonderful relationships with everybody for the most part and you just shepherd the script through. That's because if you don't then the voice changes and that was the problem that i ran into on this other one where it didn't sound like the same movie because it was some of it was my voice in some was the director's voice so doesn't feel right and to me voices everything. And that's what. I'm that's my. That's my thing that i've known for a sort of the banter in generally people can tell you my scripts have tone to them. That is very specific to me. And so you can tell when. It's not i try and be as involved as possible so switching gears to writing in a pandemic. You mentioned your husband's a teacher. My husband is excuse me also a teacher and one thing that we noticed in the transition. He taught from home for months. And he's a zoom screamer. No sense of yes. I am so for me also work in a home where someone who is screen teaching stairs change the dynamic of our little and that so you know with your husband. I would imagine home more than he used to be your son. Maybe at home did that. Change your writing process that at area challenges for you. Well yeah. I mean because it's funny so i my workload didn't really change. I was still doing everything i was doing but the time. The time of working changed because my son was home. Luckily in connecticut. It's pretty rural. Here it's not install still semi urban. It's just it's a nice number right so they're back. They're back in school in person for the most part and But then they had a hybrid for the beginning of the year and then every so often. The class will get quarantined in the remote for a few days so it just kinda goes back and forth but when everybody home and i'm trying to write it's impossible and i have my own office and i have my door closed. Curtains have noise machines. But there's always something happening where you know mom. The wife is not working with watching. You know healthy. And it's always there's always some issue right upstairs. And his his the learning. We've had called his little annexed. his little. Learning annex is right above.
"sherman" Discussed on KNBR The Sports Leader
"That's one of my favorite sideline reporter moments. She's so taken aback by what is just like Okay. This is quite some energy that's happening. What? Who? Who said something to you like? Yeah, it was very real and sell. OK, So no movie. So could you imagine at that moment, which was seven years ago today, the denied the 40 Niners from back to back. Super Bowl appearances and that look we all knew at that point between the Seahawks in the 40 Niners. That was the Super Bowl. Whoever's gonna play Denver was gonna roll them. I don't know that the 40 Niners are to roll them like Seattle did. But those defense is so good. I think the Niners were one that Super Bowl, But at that moment could you have ever imagined Richard Sherman Sherman coming to San Francisco and being in love Too strong of a word? I mean, people have completely flipped on him, at least know that if you had asked me That night. Like as I watched that game as just a 40 Niner fan, Uh, I would have vomited at the idea of him ever putting on a 40 Niner uniforms like I was so angry, watching that son hated him in that interview, hated him, But I mean, that's why it's funny when you go back to Alex Wood in the conversation we had earlier about how like some fans get hot. Bothered by that. How hypocritical is that? We do this all the time we flip on. On people who were rivals moments before. I mean, I don't know if the O K C. Thunder were arrival, but we certainly didn't get bothered when he flipped from the thunder to the Warriors, and there's tons of examples of this so but yeah, there's no is the answer Your question. I never could have imagined that Let's get to number two. This is much better. This is one year ago today, even though it seems much longer. Raheem Mostert goes off against the Packers in the NFC championship game to get a gun run. Most of the left side breaks the tackle 25 2010 5 touchdown..
"sherman" Discussed on ESPN Chicago 1000 - WMVP
"I'm John Ryder Breaking NFL news jets have decided on a replacement for Adam Games after New York finished 21 14. They have hired Robert Saleh's The new head coach. ESPN is Adam Schefter and loved his energy bill of his outlook and loved his perspective. People loved everything about what he would bring to this particular job. They sat down, and from the time they sat down with him, they were enamored with the energy, the spunk, the intelligence that he would bring to that job. His players loved him in San Francisco. His players loved him in Houston when he was there you saw after the Jets announced the agreement with him. On Thursday night, Richard Sherman said the New York Jets got themselves a great one. That was Richard Sherman's words. Richard Sherman was a thing or two about coaches, and I think the Jets shared an opinion and that's why they gave Robert Sallah a five year deal. Robert Saleh, the Jets new head coaches, his first NFL head coaching job, spent past four seasons as the 40, Niners defense coordinator. Jacksonville Jaguars have announced the day of hired former Ohio State head coach Urban Meyer as their new head coach. Former Masters and U. S Open champion golfer Unhealed Cabrera has been arrested in Brazil is awaiting extradition to his date of Argentina on several charges, including assault and theft. In the embassy in Denver, the Nuggets lead the Warriors. 67 of 59 of the third quarter Rockets win there for his game without James Harden on the roster. They beat the Spurs in San Antonio 1092105 in college basketball. One game in the top 25. Half brained Gonzaga goes to 13 and home is a wall of pepper dine 95 70. We're back on Friday, getting ready for divisional weekend Brady and Brees for the third.