Speaker 1: 0:01

Okay, no, no toilet solutions. Is that a rule? Now, do we have to make a rule?

Speaker 2: 0:06

I'll sign off on how rule no toilet solutions.

Speaker 1: 0:08

Okay, so many though that like.

Speaker 2: 0:10

That eliminates pages of your book.

Speaker 1: 0:12

Huge number of solutions, well wait bathroom is different than toilet, so I can still do bathroom, that's true.

Speaker 2: 0:18

Okay, we'll do bathroom solution still Maybe not toilet, like rubby dub bathtub solutions, or yeah just what about the upward shower?

Speaker 1: 0:25

Why does ship? Why do we have water always come down?

Speaker 2: 0:27

Gravity. Wait, I think this is a trick question.

Speaker 1: 0:30

We live in a world where it's possible to you know mechanically to do things.

Speaker 2: 0:33

It's possible to enter a centrifuge and then shower while they're spinning.

Speaker 1: 0:37

Yeah, or have water blast. Well, they do sometimes have sideways, but I want it to come up. Is it because our heads are oily?

Speaker 2: 0:44

Those are fountains. You can just go take a bath and a fountain. Solution from the multiverse.

Speaker 1: 0:49

I went into a universe. All the showers were blasted up from the bottom.

Speaker 2: 0:53

Yeah, it was awesome. Oh, sprinkler shower universe, when they only ever developed in the summer like running through sprinklers.

Speaker 1: 1:01

And they're like this this is how we clean ourselves.

Speaker 2: 1:03

Exactly this is how we need to do this, because it's joyful. Now, what if you went into that universe and you introduced to them? The concept of top down showers and they're like. They make you their king.

Speaker 1: 1:14

They're like look at this crazy invention. They look at their water pressure systems, which are like huge because they're having to blast all the water.

Speaker 2: 1:22

Yeah.

Speaker 1: 1:22

And they're like we didn't have to build any of this we could use gravity the whole time.

Speaker 2: 1:28

Then it starts raining and they look up and they go oh see, we joke.

Speaker 1: 1:32

Oh, it's just like rain.

Speaker 2: 1:34

We should have built it like rain.

Speaker 1: 1:36

You joke, but that's how our world is like right, like what? What do you mean? I mean all the stupid crap that we do. Yeah, you know, it's like so obvious that we shouldn't be doing it.

Speaker 2: 1:47

Well, we still do it. It's not obvious, until someone swoops in and shows you something, and then everyone goes.

Speaker 1: 1:53

Oh right, and then they all start doing the new thing, or they just don't start doing the new thing. All right, I have a solution. You have a solution, yeah.

Speaker 2: 2:08

Excellent, I have a reception of a solution.

Speaker 1: 2:13

Oh, okay, let's meet them up, meet them in the middle, build bridges. So have you heard about Argentina? I have heard about Argentina. What do you know about Argentina? They are in the World Cup when the World Cup happens.

Speaker 2: 2:27

And they, they're fans. Wear light skypowder blue. The flag, I feel like maybe it's kind of the coolest of the colors Definitely.

Speaker 1: 2:35

Yeah, with the light yellow too, no.

Speaker 2: 2:36

Netherlands fans wear bright orange and it sticks out like their safety.

Speaker 1: 2:40

That's the king's color.

Speaker 2: 2:42

Yeah, but like I like the Argentinean blue.

Speaker 1: 2:43

That's, that's what I know Like a powder blue A periwinkle, I know, don't cry for me.

Speaker 2: 2:48

Argentina, okay, and I know that's where the Nazis went to after.

Speaker 1: 2:52

Germany Dark history chapter.

Speaker 2: 2:54

Yeah, you know to escape right.

Speaker 1: 2:56

Yeah, I've heard of that too. Yeah.

Speaker 2: 2:58

All right. So that's what I know. Have you heard the recent?

Speaker 1: 3:01

news about Javier Miele getting elected president. No, have you heard the recent? News in the last 20 years or so of the horrible crippling inflation problems they have In Argentina specifically no, but I mean overall they have horrible crippling inflation like thousands of percent inflation all the time, like a normal year, is like tens of percent, hundreds of percent inflation.

Speaker 2: 3:29

Well, how? What's causing that? Why is that? That's their economy.

Speaker 1: 3:33

It just makes it so that, even though they're, you know they're a productive, you know educated people, but because of inflation, like their whole economy gets crashed. What's bad in Spanish?

Speaker 2: 3:42

Malo, so it'd be more like Malo Aries, molo, mala Aries.

Speaker 1: 3:47

Bueno, it's in Buenos Aires. Buenos Aires, yeah, buenos Aires.

Speaker 2: 3:51

Good Aries, we got.

Speaker 1: 3:52

Mala Aries Change to bad Aries, bad Aries. Sorry guys, aries just means Aries too. So good Aries, buenos Aires, good Aries, mala Aries, bad Aries. No, I mean, the people are lovely, the cultures love, everything's lovely, but the economy is just screwed up by all this inflation. So they recently elected just like two months ago they elected this oh, I know that, that's Miele, yeah, miele, yeah.

Speaker 2: 4:13

You just heard I've been in the know what.

Speaker 1: 4:14

No, okay, so he's a younger guy and he but he's like he is in a. He's an economist.

Speaker 2: 4:22

Air quotes, air quotes, air quotes.

Speaker 1: 4:25

He has worked as a professor of economics, but if you like. But the real deal is that he's like a rabid, self-avowed anarcho libertarian, like rabid libertarian, like the most libertarian.

Speaker 2: 4:36

Like the US version of libertarian, or is that like worse like?

Speaker 1: 4:39

as bad as the most libertarian person you've ever met, which shorthand for people and probably libertarians will be like that's not what we think, but it's.

Speaker 2: 4:47

Everyone should, for the most part, as much as you're able everyone governs themselves and makes their own rules and stuff.

Speaker 1: 4:52

Yeah, and eliminate regulation, eliminate government as much as possible.

Speaker 2: 4:55

Okay.

Speaker 1: 4:56

And you know it's the opposite of like a state socialism, like a removing the state as much as possible.

Speaker 2: 5:03

It's like a nation of individualism, yeah. Sovereign individual is kind of the keyword that some people like to say Sovereign citizen. Yeah, sovereign individual. I've seen YouTube videos where that goes poorly.

Speaker 1: 5:14

But oh no. Anyways, so Javier has done this and he's claiming that he can fix the inflation.

Speaker 2: 5:21

This was a big part of his platform and part of it is You're like to me and I will fix the inflation. It's not gonna. Your money's not gonna suddenly be worth one hundredth of what it was a week ago, or whatever.

Speaker 1: 5:31

Right, okay. And the way he's promised to do that is two things One is reining in government spending by, like, cutting things from government, because he's libertarian, right, sure. And the other thing, which was a big promise for him, is what is called dollarization. Dollarization and dollarization is where you literally abandon your country's currency, okay, and you convert your entire economy to use US dollars. Oh yeah, it's a weird thing.

Speaker 2: 5:59

Other places have done this right. Yes, they're like weird countries like small places.

Speaker 1: 6:04

Ecuador did it recently. Okay, they are now in a civil war against drug cartels.

Speaker 2: 6:08

Cool yeah.

Speaker 1: 6:10

There's not really necessarily a direct correlation between the dollarization and drug cartels, but there is some relationship. They're able to do business more easily because they're all they have dollars.

Speaker 2: 6:18

Right, you don't have to change it into Ecuador, but I mean there's other problems with Ecuador, but anyway.

Speaker 1: 6:24

So this is what Javier is trying to kind of promise, but now that he Thinking about it, Ecuador is kind of the best place for a civil war right.

Speaker 2: 6:32

Oh, best, because I mean most of the place you have to figure north south and you're like where's our line going to be when? How do we separate north and south Ecuador? The line is predefined.

Speaker 1: 6:42

Really, what is it? I don't know. It's the equator. Oh, ecuador is right on the equator, that's the whole thing. So like he's from the wrong side of the real, real tracks.

Speaker 2: 6:48

It's like literally north versus south hemisphere. I mean, it's a hemisphere fight. Hemisphere civil war. Oh God, that's the country you want to have a civil I mean for our. Ecuadorian listeners.

Speaker 1: 6:58

I'm so sorry if I'm making you light of your terrible circumstances.

Speaker 2: 7:01

We wish you the best. I'm just saying, yeah, it's all right, you do have a nice set for the civil war the line yeah, the defining line. And when you have a peace treaty and the civil war ends you know where the party's going to be Boom, right on the line.

Speaker 1: 7:16

Anyways. So he's come in and said let's do dollarization. And economists and people commenters, a lot of commentators are like saying you know, this is like the Donald Trump of Argentina. You know he's this total outsider wacko guy Okay. And he's going all, like you know, kind of moving around violently in the political space Like he's not he's you know and he's not following the normal and he's saying we'll do dollarization. But then everyone's saying there literally aren't enough US dollars in the world to dollarize the Argentine economy.

Speaker 2: 7:44

Oh well, no problem, Like the US government can just print a bunch more, That'll not do that either. Oh wait, that causes our inflation.

Speaker 1: 7:52

I don't know what it would cause, but it wouldn't. You can't do it.

Speaker 1: 7:54

You can't, you can't have, like the Argentinian government called the Central Bank of America and be like please print billions of dollars and just give them to us. No, that's just, you can't give money for free, Right. To get dollars to dollarize, you have to buy the dollars. Yeah, so you have to actually buy them from the marketplace, right? Which means they have to be there to buy, and if you don't have them, then the price will just go up and you'll drive, you'll cause all these problems with with basically become too expensive.

Speaker 2: 8:20

Reverse inflation It'll make the dollar. Oh right, that's the word for that.

Speaker 1: 8:24

It won't affect. None of this is going to affect Americans. This is all just international trade, you know, trade relations or whatever. And we all affect Argentina. Yeah, argentina, argentina. What's the country we're talking about Argentina. So, anyways, the solution today is as we've talked about before, as I'm an advocate for, argentina could adopt Hayekian competitive currencies, hayekian, hayekian.

Speaker 2: 8:50

The currency that I started. The currency that I started, the same type of currency as I started.

Speaker 1: 8:54

But what is Hayekian? Oh, from Hayek, didn't I call him Hayekian? That's what they're, that's what I call them.

Speaker 1: 8:59

You probably did, I forgot it I mean, I'm the first person to bank them, so I get to call them whatever I want, but it's a tribute to the economists who invented it, which is FA Hayek, who's a Nobel Prize winning economist. All right, so take me through this. How does this help them? So Hayekian currencies are not just even like low inflation the way like the dollar, the euro, the yen, which are like low inflation currencies. Hayekian currencies are zero inflation currencies. They don't even experience inflation.

Speaker 1: 9:25

Okay, Okay so so Argentinian, can't Argentina? What they could do is they could just invite, they could write regulations like laws around how the government or taxation and blah blah blah of how these currencies would work, and then they could just release that and just say invite entrepreneurs, argentinian entrepreneurs, to launch these new currencies, and then those currencies would launch. They'd start small but with excitement, especially if Javier told all his like hobby heads to like to like go out and flip all their pesos into these new Hayekin currencies.

Speaker 1: 10:05

I mean he has a strong, you know, he got enough base to get voted. He has a big group of people who are gonna be like great, let's go do that, and they'd all go sell their pesos by the new Hayekin currencies and they would move the country, and then they start to use that to do transactions and he would legalize it so banks could accept bank accounts in Hayekin currencies.

Speaker 1: 10:24

And the whole thing because it would be led by the top, because the regulators would be pushing it, it would be super easy for the entrepreneurs to do it. Now it would be experimental, you know, to new thing, but in theory it's a strong concept. It's a very strong concept made by a libertarian economist. Faa Hayek is a famously libertarian Libertarians love Hayek.

Speaker 2: 10:47

They love them. Plus, if you're experiencing massive swings of inflation all the time, then what are you risking?

Speaker 1: 10:54

You know like what are you risking? You're already in the worst case scenario.

Speaker 2: 10:57

You're like that could be risky. You're like oh okay, our current thing is pretty risky, so tell me something new, yeah, and you could do nice laws around it, like you know.

Speaker 1: 11:08

you could say you know you have to have a hundred percent reserve. Here's what a hundred percent reserve means. Your reserves have to have these. You know you could put some. I mean, obviously he's libertarian, he probably wouldn't put a lot of regulations, but you know a few key things to make it so that they were safe, like a hundred percent reserve. I think that would be a good regulation because otherwise entrepreneurs, capitalists, being, as you know, risk taking as they are, they might do lower than a hundred percent reserves. That's not good. That could lead to the same problem.

Speaker 1: 11:38

You can get inflation. You can get weakening currencies because their reserve is not strong.

Speaker 2: 11:43

So the solution is to get the Argentinian, mark Cuban, and the Argentinian. Jeff Bezos or whoever to start using the same one or different ones. Actually, we want them to make new currencies.

Speaker 1: 11:55

Each person have their own sort of situation, Whatever group, whatever people, if they had some insight. Oh, I'm gonna make a currency that behaves this way.

Speaker 2: 12:03

I'm gonna make a currency that behaves this way, but then the person can move and make it, instead of like having to get a consensus of.

Speaker 1: 12:09

Well, right now, nobody even knows this concept. I Googled around like no one. This is again. This is in solutions from the multiverse. It's a totally new idea, but theoretically it would. I mean I don't see the downside of at least even trying. Maybe you don't want to back it with the full like crazy, like the president saying go out and do this, but you could at least kick it off you could be like.

Speaker 1: 12:32

part of our solution is launching these Hayekian currencies that we're gonna explore and experiment with Right here's an economic option to try to alleviate some of the stress on our crazy system.

Speaker 2: 12:42

Right exactly.

Speaker 1: 12:43

And it would be. Yeah, it would be interesting. I mean, you'd still have to do the. The government has been spending too much money printing too much money printing.

Speaker 1: 12:54

The central bank prints money, buys the bonds of the government and then the government defaults on the bonds and then it causes this crisis and then they can't print bonds anymore because no one will buy them except for domestically. You can only buy them domestically. So maybe you could say in the regulations, like Hayekian currencies need to hold one third of their reserve, needs to be bonds, government bonds.

Speaker 2: 13:16

Just some sort of a guarantor, starts to create like a demand for the government bonds.

Speaker 1: 13:21

So then, but then there's still accountability, because the Hayekian currencies can be like screw you, Like we're not gonna buy a dollar like a peso over a 30% unless these bonds are actually good. And so the government has to actually.

Speaker 2: 13:34

Oh no, I actually have to make good bonds, I have to keep my books balanced and you want a currency, hopefully to be a fund. You don't have it just to have it. You have it to use it right. Like it's a thing to make your economy and society function and make people able to do trade and commerce. Yeah, totally.

Speaker 1: 13:51

But you have to make it so that it's stable, so that there's no inflation. But it would be really interesting. It would turn Argentina from being like a backwater, like a financial backwater, into, like, basically, the cutting edge country in the world of financial, monetary innovation.

Speaker 2: 14:07

It sounds like it would be like Wakanda, where, like, everyone's got their own future tech.

Speaker 1: 14:11

Yeah, it'd be like that.

Speaker 2: 14:12

It's like, oh, you can come over here with Scott Bucks and pay. By the way, they're way better than.

Speaker 1: 14:17

Adam.

Speaker 2: 14:17

Bucks across the street. Adam Bucks sucks, so come over to Scott Bucks.

Speaker 1: 14:20

Yeah, try Scott Bucks. Well, they could do interest. I mean, leave it to entrepreneurs to figure out how to differentiate. But Hayek recommends a couple ways to differentiate. One is actually people. Different people have different cost functions and therefore different inflation. So like if you live in a rural area and you don't have any kids, you have a really different cost function than if you're like someone with kids in a city. Wait, what's a cost? Function Like your costs.

Speaker 2: 14:46

what you buy is different, okay so your monthly cost will be there, yeah, like if you're in a rural area.

Speaker 1: 14:52

You probably get cheap eggs because there's eggs everywhere, from the chickens in the rural area.

Speaker 2: 14:56

You might even own chickens, yeah, but if you're in a city, eggs are more expensive, so like.

Speaker 1: 15:01

So you could actually build a currency that was inflation proof for rural people and a currency that was inflation proof for city people, and it would behave differently. They'd be different currencies, and so you could do that. You could be like, oh, I'm gonna create that. Another person could say I'm gonna make a socially responsible currency, I'm gonna make a currency that the reserve has no you know polluters. Okay, you could make like all kinds of.

Speaker 2: 15:27

You could make currencies where?

Speaker 1: 15:28

it's like 10% of the profit goes to charity. Oh, I wanna use the social good currency this way or that way. You could do currencies, where you give back profits in the form of points or you know, it's like anything, you can just differentiate in all different ways.

Speaker 2: 15:43

So now, if I'm traveling to Argentina for tourism, how many wallets do I have to bring with me?

Speaker 1: 15:49

Because like if I'm gonna go there as a person from another country what do I exchange my money for? How do you do it now? You probably just swipe your credit card when you get there. Oh, that's a good point, and it just all gets done.

Speaker 2: 16:01

I was just gonna say literally, because the last time I was international traveling I was like well, you take your cash up to the, you take your traveler's checks up to the in the airport and you get them exchanged for cash in the currency that you're in and you carry that around in a money belt and look at it everyone sideways and hope that no one rolls you for your cash.

Speaker 1: 16:19

But no, yeah, credit cards, credit cards, of course, most countries you can just swipe your credit card or debit card anywhere and it goes through. So that would be one way, but you could also, you know there would still be like the peso would probably still be a major currency.

Speaker 2: 16:31

Is the? Is that peso? Is Argentinian peso, the same peso as Mexico? Or no, it's just the word, it's just a word, it's just being.

Speaker 1: 16:39

Peso means a weight. Oh, peso, peso, peso, peso, peso.

Speaker 2: 16:44

So if I have an Argentinian, peso and I walk into Mexico and try to spend it. They're like yo, you can.

Speaker 1: 16:48

No, of course not. No, no, no, no, it's like Singaporean, singaporean dollars, american dollars, all right, canadian dollars, I guess Canadian dollars, yeah, that makes sense.

Speaker 2: 16:56

If I try and spend a tune in one of the US shops, they're like nope, he has a.

Speaker 1: 17:01

Singaporean dollar. Everyone's like. What the fuck I'd be like?

Speaker 2: 17:05

yeah, give me, this is money blue.

Speaker 1: 17:07

Why is this money blue? But yeah, they could even produce their own caches, so like one currency could be like we have cash. Another currency would be like no, we're like a high.

Speaker 2: 17:14

Is that called a fiat currency when it's a cash, or is that something different?

Speaker 1: 17:18

Fiat, just in Latin means making I was trying to sound smart. Fiat in Latin just means make it so. That's what it's make it so, and what it means is, when a currency has its value, comes from some power saying this is money.

Speaker 2: 17:35

How come he never said that on the next generation?

Speaker 1: 17:37

I know when he was like all right, number one Fiat. Fiat. So yeah, I should have said that. Make it so number one. So yeah, so Fiat, fiat's a little bit confusing. It's actually kind of a confusing term because you could say the US dollar is a fiat currency Because the US government says it's money.

Speaker 1: 17:58

But, it also is money for all these other reasons. Like it has a reserve, the Federal Reserve has, you know whatever half a trillion trillion dollars Just sitting in its reserves, right, so it has a reserve. Does that give it its value, you know? So these hacking currencies, wait, wait wait, the Federal Reserve.

Speaker 2: 18:14

This is this. This can be completely sideways.

Speaker 1: 18:16

But, we went off the gold standard yes, 1935. The gold window closed in 1971. I'm wearing the shirt I was just gonna point out.

Speaker 2: 18:25

You're talking about the thing that you're wearing a shirt.

Speaker 1: 18:28

I didn't realize I wear this shirt all the time, but there's a great website.

Speaker 2: 18:32

I remember it's the first time you wear. I was like what is anyone?

Speaker 1: 18:35

who's anyone wants to learn more about this WTF?

Speaker 2: 18:37

No, I said this was not in 1971 cut out, don't cut it out. Why? What? Wtf me talking about your shirt that no one could see?

Speaker 1: 18:46

WTF Happened in 1971. That's the when the gold window closed. But the website shows hundreds of graphs showing that basically every economic indicator got worse ever since then.

Speaker 2: 18:56

Yeah, it's a pretty Convincing set of graphics.

Speaker 1: 19:00

Yeah, so so bad news about new me. Oh yeah, what our bank Debanked us. They kicked us off.

Speaker 2: 19:09

Oh, yeah, what does?

Speaker 1: 19:11

that mean means we are, we're legal to operate, we technically can operate, but we literally are just shunted out from the banking system.

Speaker 2: 19:19

Okay, knew me. For anyone who hasn't listened to an older episode we did on new me. New me is the Inflation-proof currency that Adam created. Yeah, hi-aki, incurrence, hi-aki. Yeah, we talked about where it if the inflation goes up periodically, eventually, essentially, your money stays the same value, which means it's worth more over time of regular dollars relative to regular relative. Yeah, exactly, okay, just yeah, it's inflation proof. So losing a bank, oh no, yeah.

Speaker 1: 19:47

So I mean you know startups, you know you move two steps forward, one step back, kind of thing. Okay, we're not, we're not dead in the water because, like I said, it's not like the government told us we can't do it and it's not. You know, it's not like it's illegal and it's not like technically we can't do it, it's all.

Speaker 1: 19:59

Everything's working, actually better than ever. Everything's like the apps are looking great, everything's like working and firing on all cylinders, right, but the bank? There's this weird thing going on in the banking industry where, basically, they're getting like, they're getting like spooked, like regulators are going around, I think largely because of crypto stuff. Okay, the regulators are going around like in rooms behind closed doors and they're not talking necessarily to the crypto people. They're talking to, like the, the, the banks and like Because the banks are like gatekeepers, right. And so the regulators are like, well, we can't try to regulate all these psycho crypto people, but we, we already know the banks and we can regulate them. Okay, so they're going around saying like, hey, anything, that's like weird, you better not be doing anything with that because, like Booga, booga, booga, like scary.

Speaker 1: 20:50

You know, and so the banks are like very, very spooked. And so my bank was like we're spooked because they're just some bit. They're just some random business bank. They're not like some, they're not like a bank built to be like. No, we're taking those risks on purpose right. We know there's gonna be costs, but we want to take the risks in order to have. They're not like that. They're like no, we're just doing like vanilla business banking just looking at the midwest wide numbers yeah, exactly.

Speaker 1: 21:15

They say you know, borrow it. Borrow it 1%. Lend at 3%, golf at 4. So it's borrow it. Borrow it 1. Lend at 3, golf at 4, golf at 4. What, just like a 4 o'clock cut out, you're done with your work.

Speaker 2: 21:28

Oh, I Was like. It sounds like you're saying you're gonna go play golf. This is easy bank. I was trying to.

Speaker 1: 21:34

I was smart, borrow it. Let one lend at 3, golf at 4. They're not doing like, they're not trying to do like really. But then I've content I've. So I've tried to contact some new banks and trying to get the some banks that are more like Really like yeah, we're innovative, we want to do the more cutting-edge things right. You know, we want to assess you on your actual you know, for your actual the actual product? Yeah, not not just like oh, are you new or not new? It's like being new doesn't make you new.

Speaker 2: 22:03

Yeah, no, this is new me, sorry. Yeah, completely different. Have it backwards.

Speaker 1: 22:08

But yeah, so it's a little bit of a set. I've been kind of grieving like so frustrating yeah, and I believe, and I believe that this is an important thing, especially because we did some math and we're trying to figure out the cost of inflation to the American households.

Speaker 1: 22:23

Yeah and our rough estimates which the economist guy and I put together, and he's not like me. I'm like, yeah, give me the biggest number possible. But he's like an actual responsible economist. So I'm the responsible communist, but he but you know he has no incentive to give a big number.

Speaker 1: 22:38

Yeah, baby, give me those like he was like this is a defensible way to argue it, and he cut, you know, made it all straightforward and basically we found that if you just look at savings like current accounts, cash and savings accounts, uh-huh, every year American households lose 53 billion dollars to inflation. Whoa yeah, 53 billion dollars. So that's like a fifth of the are the about a tenth of the military budget.

Speaker 2: 23:04

Can I ask a dumb question? Yeah, where does it go you?

Speaker 1: 23:06

say lose like goes to rich people.

Speaker 2: 23:10

How? Basically it's okay.

Speaker 1: 23:11

It's thieved from poor people and given to rich people, okay, or it's thieved from credit or debtors like savers and given to debtors.

Speaker 2: 23:20

Largely so, it's like a transfer of wealth if I, if I keep a thousand dollars in my bank account and I'm like, yes, I've got my fortune here and now inflation makes that thousand dollars more like 800.

Speaker 1: 23:31

It operates more like 800 now like it, but essentially a thousand dollars buys now what 800, 800 buys? Before. So where did that's where the inflation? Yeah, what?

Speaker 2: 23:41

what happened.

Speaker 1: 23:41

You're saying that 200 went to like rich, rich people who. But how does that?

Speaker 2: 23:46

like explain that to me. How do they? It's called the profit. It's called the cantillion effect Because I mean my covered by cantillion, because in my brain I'm like, oh, if I have a thousand and it's worth less, yeah, and they have a billion dollars, then that's worth way less.

Speaker 1: 23:58

Right, they lost more than I did, yeah, but see, they probably have a lot of debt, and if they have, debt they're paying back loans with interest rates and the inflation actually makes their debt cheaper. Okay, because inflation reduces your interest rate. If you think about it right, like if I have to, if I owe you $10,000, but then inflation is a hundred percent a year, you're gonna get back $10,000, but that's gonna be worth way less when I go. And you get it because of it, because of inflation.

Speaker 1: 24:27

Okay so inflation acts as a sort of cheapening of debt. So if, if, like the government, has the huge debt right, like the huge national debt, right, well, if inflation is like 20%, then that debt goes down by 20% because the actual value is reduced by 20%. Okay so debtors make debtors, which are basically landlords Right land, like wealthy people, like who dab debt. They, they, they make money off inflation. The other way that people make money off inflation is just the what's called the Inter-temporal difference between money now versus money later.

Speaker 2: 25:03

I'll give you a concrete example.

Speaker 1: 25:04

Yeah, Every a village of people you know a thousand people village goes to sleep one night and the next morning Everybody wakes up with ten additional, whatever ten thousand dollars under their pillow. Okay, so immediately, immediately, all prices rise proportionally right, like every you know immediately a price slice of, but you know, loaf of bread would go from five dollars to Whatever eight dollars or whatever it is to account for the additional cash, because everybody woke up with ten thousand more dollars.

Speaker 2: 25:32

This is the argument against raising the minimum wage is, as what I've heard as well, causes inflation. Is that, yeah? Is that it's like? Oh, if you just bump up the bottom, it's gonna like, which is false this like trying to lies yeah, it's total lies trying to sink a boat by putting more water in. It's like no, it's gonna keep lifting. That's lies, does not the minimum wage takes profits from. No, I'm not saying, I hear anti-anti-labor argument against it.

Speaker 1: 25:57

Yeah, but, but, yeah, so, but imagine that same City. But now you wake up and you have ten thousand more dollars, or you have a hundred thousand dollars under your pillow. Exactly nobody else woke up with that, though.

Speaker 1: 26:09

So now I'm living A bunch more stuff and you're like funny money that you got goes away from you and real goods come towards you, gotcha. So there's this kind of yeah, so. So if every day the Federal Reserve prints money and gives it to the federal government, who gives it to federal contractors, military, industrial complex, social welfare and the and then that, and then they also give the money of the Federal Reserve, gives the money to big, huge corporate banks, right, they then give that money in the terms of loans and investments into Wealthy, huge corporations. That's where the money basically goes. So those people are waking up every morning with $100,000 under their pillow and the rest of us are waking up with no additional money, which means our money then gets worth less. It's being thieved away from us.

Speaker 1: 26:55

Okay, so it goes to the government and to large banks and to large corporations. Some of it comes back to like normal people, like if you take out a car loan or if you buy a house and your mortgage rate is probably lower, you know, slightly because of that. So it kind of it's like a trickle down.

Speaker 2: 27:12

It's the definition of trickle down economics Right sure.

Speaker 1: 27:16

And it doesn't work because we know that trickle down economics doesn't work and it's called the cantillion effect. You can? The cantillion was this French guy a long time ago, I don't know a couple hundred years ago, who figured this out. He had the same idea what if someone wakes up and they have $100,000 under their pillow Right and nobody else does? Well, clearly there will be a transfer of real goods to that person and money away from them, and money is not worth anything, right?

Speaker 2: 27:39

Money's only worth what we agree that we can buy yeah.

Speaker 1: 27:43

So actually there's this transfer of real wealth in exchange for fake wealth, like the money goes away from them. So he.

Speaker 2: 27:49

I like to think of.

Speaker 1: 27:50

it Reminds me of NFTs, yeah it's like cryptocurrencies, yeah, which are scams, but yeah, so it's like a Roman fountain. You can think of it like a Roman fountain. A Roman fountain had like a spigot at the top and then it would go into a basin at the top and then it would go into another basin.

Speaker 2: 28:06

And then it would go into a big basin. I was thinking of one of those like a wedding, where you have like a pyramid thing of the glasses and they pour a champagne at the top one. It's like that.

Speaker 1: 28:15

The reason why a Roman fountain is a good model is because-.

Speaker 2: 28:19

And not my stupid champagne wedding it's because everyone drinks the champagne.

Speaker 1: 28:23

right, it doesn't matter if you get the top one or the bottom one, but in a Roman fountain people drank from the top basin. People then washed their clothes in the second basin and then animals drank from the bottom basin.

Speaker 2: 28:37

Or no, the other way around it.

Speaker 1: 28:38

Humans, animals and then washing. People washed their clothes and it was like gray water at the bottom.

Speaker 2: 28:43

I was gonna say that's where you're wrong, Cause I do wash my clothes in the champagne at the bottom of the pyramid and you have your donkey, drink the champagne at the middle. Absolutely.

Speaker 1: 28:52

Then your analogy is perfect.

Speaker 2: 28:54

Thank you. I just wanted that acknowledgement. Thank you very much. Go ahead so we can continue.

Speaker 1: 28:59

That's called the cantillion effect, but it makes perfect sense. I mean when you think about it, like if one person the central bank is printing money. That's like the tip of the Roman fountain. And then the water cascades into that first basin, which is, like the government, military contractors.

Speaker 2: 29:15

But it's more and more diluted, polluted, yes, the further down it goes.

Speaker 1: 29:20

Yeah, you're losing value and wealth is flowing up towards the central bank. And this is evinced as well in the central bank's own profit taking. The central bank, the Federal Reserve's profits last year I think last, just 2022 was $60, some billion.

Speaker 2: 29:37

It's good, it's good money.

Speaker 1: 29:39

The operating business. The operating expenses is only $4 billion to operate the entire Federal Reserve system, so their profits were like A tidy profit.

Speaker 2: 29:48

What is that? Like $61 billion? Like?

Speaker 1: 29:50

16,000%. I mean it's like what the hell are you doing? That's 10 to 1,600%, but no businesses have profit margins like this. If you said I have a business and our profit margins are 1,600% like literally 16 times, you'd be like what are you selling? How could you? What could you possibly be selling?

Speaker 2: 30:12

The other funny thing is the quarter after you get your 16,000% increase and you don't have another 16,000, your board is like what Stuck the stock down?

Speaker 1: 30:20

Pull the stock down, this guy's lost it.

Speaker 2: 30:22

I want to see you. I hit a lightning thing. You can't just expect lightning strikes. That's crazy.

Speaker 1: 30:29

But yeah, so the Federal Reserve. Consistently. You might say, oh, 2022 was some kind of special year. No, consistently they make like 1,000% profit. It's the most profitable business on the planet, both in gross terms and in net terms. Yeah, those are pretty gross. No business gets that big profit. And the reason why is because it's taking profits, because it's that tip of the Roman fountain Printed all the money. It's a monopolist, it sets, it gets all the interest of all the money in the whole world, anyways. So if that profit would be shared equitably, I mean to be clear. It does take its profit and just give it to the government. The Federal Reserve is kind of related to the government, even though it's an independent thing. It just gives it to the government.

Speaker 1: 31:14

So that's not too bad, but the problem is what the effect that it has on the government's behavior, namely like bailouts. You couldn't have bailouts unless you have a central bank that printed the money for the bailout. You also couldn't have invasionary wars, like Russia couldn't have invaded Ukraine unless its central bank printed the money to do it. It just wouldn't work. You can't have invasionary wars without it.

Speaker 2: 31:37

I didn't think that those things are connected like that.

Speaker 1: 31:40

Yeah, imagine if you were like in America and it was like 2002 and people were like let's invade Afghanistan. And then people were like, cool, taxes are gonna go up by 15%. People would be like let's think again about that invasion. Like no one wants.

Speaker 2: 31:56

Actually, I think it's cool.

Speaker 1: 31:58

Let's be cool, let's just do surgical strikes or something that are what's cheaper. Give me that price list.

Speaker 2: 32:04

What are we doing?

Speaker 1: 32:05

Let's see the menu, Like, oh, we can just go get some of it laden with a helicopter instead of invading an entire country for 10 years. So yeah, so basically, invasionary war it's not really possible to do unless you have defensive wars are possible.

Speaker 2: 32:21

Because it's like they're invading Unless you have like a bottomless, should we?

Speaker 1: 32:23

raise taxes to fight off the invaders. Yes, people say yes, raise the taxes to fight the invaders.

Speaker 2: 32:27

What we're essentially talking about. It's a bottomless empty checkbook. Yeah, just a blank check, Because you're like I can write you however much money I need to write you, because I can make however much money I need to make, because I'm the one who does all the things, because, I'm waking up tomorrow with that under my pillow, whereas you you're a working person.

Speaker 1: 32:44

you just take the effects of it.

Speaker 2: 32:46

So back to Argentina.

Speaker 1: 32:47

So yeah, so Argentina we just need now. They hit that checkbook too much, they were too big of a blank check, I've moved you back.

Speaker 2: 32:55

Were you done talking about the new me thing? Yeah, sure, I was like this frees up new me to become the official currency of Argentina. I'd rather we just gotta talk to King Argentina and Queen Argentina about this, if they contacted me.

Speaker 1: 33:06

I mean, I've been trying to reach out to them.

Speaker 2: 33:08

They have To.

Speaker 1: 33:08

Argentina this.

Speaker 2: 33:09

The country, the country I just want to. They have one email address, just Twitter, just the Twitter Argentina.

Speaker 1: 33:14

ArgentinaGmailcom. I've been sending lots of emails. They don't respond. Yeah, I mean, obviously, you know, I was thinking that you know, this Javier guy might take my call because he's a libertarian why not? I'm a professor, I have this. I'm the first ever Hayakian as far as I know currency and existence. Take it, yeah, but yeah, we'll see. What's this guy's name again Javier Miele.

Speaker 2: 33:38

Miele, we should know his name before we take a call with him, right? Yeah, I don't. Should we call him right here on the pod? Adam, I have a surprise for you.

Speaker 1: 33:44

I've got Javier.

Speaker 2: 33:45

Miele's phone number and we're gonna call him right now.

Speaker 1: 33:48

Miele, sorry Miele, oh my gosh, Gerardo Miele Miele, sorry everyone, sorry Argentinians.

Speaker 2: 33:57

Sorry, Javier.

Speaker 1: 33:57

Mispronouncing your name.

Speaker 2: 33:59

We're suitably best friends.

Speaker 1: 34:00

I have respect for you, know someone who's trying to do something, but I would love it if, yeah, there was more conversation around Hayakian currencies as a solution.

Speaker 2: 34:10

Well, especially if their specific economy, like our economy, thankfully right now isn't doing that wild inflation swing so quickly.

Speaker 1: 34:18

I mean it's just a quick.

Speaker 2: 34:21

I mean it's a steep, constant pressure, but like if that's causing so much anxiety and like turmoil in Argentina, then yeah, like attack that first right. Like look for a way to insulate your economy from inflation and the crazy inflation effects that happen to your actual society.

Speaker 1: 34:41

It has another effect too, which is like right now, the way people are thinking is you know? The answer is the economy needs investment to operate and to grow Okay, but the government bonds, the open market, won't buy Argentinian government bonds anymore Okay, they're screwed. So the only one who will buy their bonds is the IMF, the International Monetary Fund, which is like an intergovernmental environment. I thought that was the thing that Tom Cruise worked for. Is it Scientology?

Speaker 2: 35:13

No, no that when he's solving his impossible missions? Oh yeah, he does. He works for the IMF, right.

Speaker 1: 35:19

So the IMF is this government or government economic growth organization and they'll buy junk like junky bonds. But they'll come in and say but there's strings attached. You have to do these policy changes, which are usually open up your borders for free trade and just getting raped by international capitalism. That's like what it's.

Speaker 2: 35:39

It's bad. It's bad. The IMF is bad Okay.

Speaker 1: 35:43

It's bad I mean it's not unequivocally bad because sometimes the international corporations raping it is better than the warlords, like the domestic warlords rape it, like they won't actually rape you, but the domestic warlords will rape your daughter.

Speaker 2: 35:57

Oh, cool yeah.

Speaker 1: 35:59

So sometimes it's better, but it's certainly not ideal. It'd be better if somehow the nation on its own could kind of build its own domestic economy up Sure.

Speaker 2: 36:08

Yeah.

Speaker 1: 36:09

So Hayekian currencies would allow that, because the Hayekian currencies could buy the bonds and the domestic. You could say 50% of your back assets need to be Argentinian assets. Then the domestic currencies would now become the investment vehicles for the country to develop, at the same time as eliminating inflation, which would cause economic activity and growth. So it'd be this very fascinating.

Speaker 2: 36:33

I mean, I assume that all works. You have lost me.

Speaker 1: 36:37

No, that's not the bad way.

Speaker 2: 36:38

I'm just like I'm like okay, I believe you. I don't have any basis of fact checking any of this, but yeah, that sounds good.

Speaker 1: 36:46

No, this is all I think, experimental but plausible. That's the idea I would say. This is I talk to economists. I have two, three friends who are economists.

Speaker 2: 36:55

We talk about this and they all agree.

Speaker 1: 36:57

This is plausible theoretically, but no one's ever tried it, so we should try it. Some country or some, even just a city somewhere, should just try this and we'll see, because it either will work which would be like Shangri-La, like it'd be really awesome or it wouldn't work, and then it wouldn't be any worse than getting 100% inflation. Exactly, I was gonna say that's the place to try it, because you got nothing to lose.

Speaker 2: 37:20

What are you gonna? You can't break anything that's already broken.

Speaker 1: 37:24

That's untrue you can definitely break stuff that's already broken, but yeah the analogy.

Speaker 2: 37:28

I mean that's the place to try it.

Speaker 1: 37:31

Oh, I didn't say the other cost of inflation. Wait what we can wrap up. So that was just the $53 billion was just savings accounts, credit, current accounts and cash. All right, okay, but every year people have income, right? So your income, anyone's income if you have a job is like a salary that's written down in a contract. So, you make 100, just for easy of numbers. So you make $100,000 a year, or X amount per hour or whatever.

Speaker 2: 37:59

Yeah, whatever you have a written, a renegration rate, just to simplify the math though.

Speaker 1: 38:03

Let's say you make $100,000 a year, if there's 5% inflation. Or let's say there's 5% inflation, then your $100,000 salary next year is only going to buy you $95,000 over the stuff, unless you fight for a raise. That is at least as much as inflation, okay? So if you look at wages, that money's being stolen from you as well.

Speaker 1: 38:26

That's like a kind of the same like a cantillion effect, where your wage is being that you've not just your credit balance or your balance on your checking account or your balance in your savings account. It's being thieves from your actual income.

Speaker 2: 38:37

Okay well, and that's where you see those graphs where it's like the cost of things going up and the cost of wages staying plateau.

Speaker 1: 38:44

So if you do the math it's a trillion dollars a year. Stole that's a thousand billion dollars a year stolen every year from people's wages by inflation.

Speaker 2: 38:55

You'll just let me have one of those billions. You got a thousand billions, just give me one.

Speaker 1: 39:00

I know I'll be okay with it. I promise if somebody gives me a billion dollars, I'm not going to bug you with anything else. You're not going to bug anyone. Leave me alone a billion dollars. I'll go away. I'll give you less than that. You leave me alone.

Speaker 2: 39:11

I mean are we negotiating? I don't want you to leave me alone, scott.

Speaker 1: 39:13

I like your messages. I like your text messages.

Speaker 2: 39:15

All right, fine, give me the billion, I'll keep talking.

Speaker 1: 39:17

Keep talking to me, even when you have a billion. Actually, when you have a billion, let's go on boat rides.

Speaker 2: 39:21

Boat oh, you hate cars, but you like boats.

Speaker 1: 39:23

Oh, I love boats, ha ha ha, ha ha. Boats, sailboats.

Speaker 2: 39:27

What about the? Oh wait, what about those duck, those boats that are like cars, they come out of the water and they like take people on tours. Have you seen?

Speaker 1: 39:33

those.

Speaker 2: 39:34

It causes a crisis for me, because I don't like cars but I do like boats. As soon as it goes in the water, you're like yay, it comes out of the water.

Speaker 1: 39:39

You're like boo, I was tricked, you made me like a car. I've taken rides on those because they're in Wisconsin, the Wisconsin Dells they have the rides.

Speaker 2: 39:48

Oh yeah, they're fun. They're called the duck boats.

Speaker 1: 39:50

Duck boats right, they're from World War something.

Speaker 2: 39:53

They seem cool.

Speaker 1: 39:53

Yeah, they're cool, yeah, anyways.

Speaker 1: 39:58

We're just talking about how to solve all the economy's problems. But yeah, so if we had no inflation in our country like if banks would actually work with the NUMI which would be nice and we could actually launch and grow people could say to their employer hey, that's great, I actually don't wanna join a union because I feel like that's all this work and I don't wanna do that. I mean, I'm pro-union but a lot of people aren't pro-union. That's cool, but you still don't want inflation to destroy your income. You could just be like hey boss, I won't join the union, but I want my salary to be written out in the contract in NUMI or in some other Hayekian inflation-proof currency. So on the contract it says 200,000 NUMI Right Now.

Speaker 2: 40:42

Next year when inflation has gone up. You have not taken a pay cut. Yeah, I'm still being paid the same.

Speaker 1: 40:47

So currencies like the New Me could save American households $1,053 billion a year in loss, and yet the banks consider it risky. I don't know why.

Speaker 2: 41:02

And steal that money away from fat cats who don't deserve it.

Speaker 1: 41:06

Yeah, take it away and it would go into these currencies, but the currencies keep it as 100% reserve and invested and could even, I think, do a lot of good with it. Okay, so yeah.

Speaker 2: 41:17

So non-inflation currencies as a way to keep. Maybe fix Argentina and keep other places from going on that same trajectory and dealing with those same problems.

Speaker 1: 41:28

I'll say at this point I'm throwing a lot of like big numbers around. My point is that's like the absolute biggest possible, you know. That's like, oh my God, the whole economy was inflation-proofed. Right, there would be other things that happened that would happen and we could talk more about that if we won't do it now. But there's a lot of things that could happen. It would change a lot of things, but it would eliminate inflation, which I think is cool. So, yeah, it'd be interesting to see what Argentina could do and it'd be nice if, even if that wasn't the solution, there's no reason to not let it try, just try it out.

Speaker 1: 41:59

See, let it kind of grow in a paced way, don't let it get out of control. Maybe say, hey, we're going to check in. When you hit a billion dollars, a hundred million dollars in circulation, we're going to check in. What are the effects, what's going on? And if it gets weird or crazy or it started hurting people, shut it down.

Speaker 2: 42:14

Well, and you're right, it's a strongly libertarian government. I mean, I have my own qualms with that ideology, but one of the strengths is they're like new stuff, let's try it out, let's see what. Let's throw stuff against the wall and see what sticks. Yeah, yeah, yeah.

Speaker 1: 42:26

Anyways, if someone's hearing this and you're like this is totally wrong, I love that. I want to let. Well, we need to start more of a conversation around this, because the new idea. There isn't a lot of conversation around it going on, so let's talk about it.

Speaker 2: 42:37

You're the person to talk to. If someone wants to start a Hayakian currency, I would love to talk to you, because you've done it. You know the ins and outs, you can advise.

Speaker 1: 42:44

Well, it's easy if a bank will work with you actually, so if a bank will work with you. It's pretty straightforward. But if they won't, then it's trouble also.

Speaker 2: 42:50

You got to start wearing suits and bolder hats. I know I don't dress. I don't dress for the role. You need little circular glasses. Yes, Right.

Speaker 1: 43:00

Little square rectangular glasses.

Speaker 2: 43:02

That's the opposite.

Speaker 1: 43:03

And like a mustache, like a little mustache.

Speaker 2: 43:05

You definitely need a little mustache, a little Walt Disney situation, a little no soul patch, no soul patch, no. If you get a soul patch, then you've traded in your bank and you've got to now you have a bass guitar.

Speaker 1: 43:16

I think we'll find a bank. But I think we'll find a bank in like three years when all this regulatory stuff cuts cooling off, again Chilling, and they're kind of reopened to like innovation, I mean it seems like everything to go in waves, like things go up again or I'll find a really wealthy person I mean, I think of a really wealthy person or like a wealthy investment company was like oh, we're going to put you know 10, $5 million behind this.

Speaker 1: 43:41

Then it would be like easy Cause, you just tell the bank you think we're risky. Well, what if we just put $5 million in a checking account in the bank? They'll be like oh well, do whatever you want then, cause now they have this huge, you know they get $5 million, they go lend out and make tons of money.

Speaker 2: 43:54

So you're talking about a wealthy individual. That is like first thing we're going to do is subsidize this one podcast and second thing we're going to do is $5 million.

Speaker 1: 44:02

Or whatever, just millions of dollars. If you had millions of dollars like I don't have millions of dollars so I can't do this, but if I had millions of dollars, I already told the bank. They were like, well, we can't work with you anymore. I was like what if I just put like a million dollars in a bank account with you? And that stopped them cold? And they like stopped and like did the math in their head and they were like and they didn't say, oh, we'd still shut you down. They said, well, then, that would come under consideration, like that.

Speaker 2: 44:27

The equivalent of the briefcase full of cash that you just said open up. It's not a bribe, it's just a reserve.

Speaker 1: 44:33

It's just money that's in their bank now and they can lend out. If a bank has a million dollars in a bank account, it can lend out $5 million, which means it can make five times, whatever the interest rate is money, so it can make a lot of money, for if you get one, they only have to hold 20% of the reserves. This is why the new me is like less risky than a bank.

Speaker 2: 44:55

Except for we don't have. Well, that's how runs on the bank happen. When everybody wants their own money, yeah, if you do a run on the bank, the bank screwed.

Speaker 1: 45:01

And then you need the FDIC insurance with a 100% reserve currency. When there's a run on the currency, it's already there. You just give them back their money, it's all there, so it's not as risky, but there is no FDIC insurance. So, that's why we built FDIC insurances to make regular banks less risky. Make it work. One of the big things that made me think about the Hayekin currencies for Argentina was not only Argentina, but that this week we had the Bitcoin ETFs allowed to be created by the SEC.

Speaker 2: 45:32

What's an ETF?

Speaker 1: 45:32

I'm behind on this, that's okay, yeah, etf is an exchange traded fund. What it means is you take like a basket of assets that have each have their own price, and then from that you take like 10% of one, 20% of the other, 50% of the other, and then you add it up together and it creates a new price for the synthetic it's basically a basket.

Speaker 2: 45:54

It's like a basket.

Speaker 1: 45:55

And so they have ETFs for other things. Like you have a and it's a, you can have a hundred percent. So you got an ETF for gold. Okay, the ETF price might be 50 or a 100 or something, but it goes up exactly with the price of gold and it goes down exactly with the price of gold. So instead of buying gold, you just buy the ETF for gold. So they made an ETF for Bitcoin. They made like 10 of them, okay, and the SEC, this securities and exchange commission, which allows new assets like this to be created, allowed Bitcoin ETFs to be created. Okay, I am completely against this. I think why? Because the zero backing Bitcoin has zero reserve Right, okay, and it has zero value. It has no real value. It doesn't like if you buy a right, then they're building buildings and doing real estate. If you buy a stock, then they're doing whatever that you know. If you buy Apple stock, that money goes into Apple. Apple builds phones and things, right. Like it's based on.

Speaker 2: 46:50

Bitcoin just does nothing. Well, it's the mining and the scarcity slowly, but it doesn't create any welfare for anybody. There's no welfare.

Speaker 1: 47:01

It's just bits and boob bites, whatever and actually it ruins the climate because it's you know, Bitcoin uses more electricity than New Zealand. Yeah, it's like why? Why are we wasting this electricity, Anyways? So I'm totally against that and I instead would rather see these Hayakian currencies beating the pants off of cryptocurrencies. But we're at the very beginning of Hayakian currencies, so is that what spawned this?

Speaker 2: 47:25

whole idea.

Speaker 1: 47:26

That's what triggered me like, oh, we should talk and the Argentinian stuff, but there's been things happening in sort of the currency world. Yeah, yeah, yeah. So yeah, I think that crypto should have never been allowed. No, like non-accredited investors should have never been allowed to trade cryptos. It should have been only accredited investors.

Speaker 2: 47:44

Yeah.

Speaker 1: 47:44

And then it would have been like well, who cares? Those doofuses can lose their money. Who cares?

Speaker 2: 47:48

Well, and it felt like it pumped up huge right when they like got a lot of popular people to throw in some dumb money. And then the bottom fell right out of yeah, and they all become bad, the poor people are all bag holders and the rich people all leave Like yeah, thanks.

Speaker 1: 48:01

Yeah, they just steal money. Yeah, and it's all for no good right. It's not like, oh, and we build bridges with it. No, it's like literally just direct. It helps climate change.

Speaker 2: 48:11

Yeah, it just builds climate change and it the power grid and it just redistributes wealth regressively to the wealthy. Yeah, but it's solving equations slower and slower, more and more slowly. If only we could solve the most boring math problem ever.

Speaker 1: 48:25

Okay, I like it.

Speaker 2: 48:26

Let's think yeah, let me get an experiment solution.

Speaker 1: 48:29

Yeah, maybe help Argentina, maybe try something new in the United States.

Speaker 2: 48:33

Yeah, I just want some really cool clothing in that sky blue. Let's get you it. I mean, that would be. Oh, I could camouflage myself into the sky on clear days. I'll just stand there and people wouldn't know if it's me or the sky.

Speaker 1: 48:46

Stand on top of buildings.

Speaker 2: 48:47

Uh-huh. Yeah, perfect plan I'll be a reverse Batman during the day Reverse.

Speaker 1: 48:53

Batman, you could be Birdman I swooped down in start crimes. This really is reverse, batman. Your parents were saved from a burning building.

Speaker 2: 49:04

I hired a person to assassinate my parents in the alley and he botched it and the parents like got him the karate, chopped him right in the face, all right.

Speaker 1: 49:13

Thanks for tuning in to next time for more Batman.

Speaker 2: 49:15

Stay bat time. Stay in bat channel. Thanks for tuning in everyone.

Speaker 1: 49:19

Solutions for both of us Bat here later See you Bat here.

Speaker 2: 49:23

Oh, very nice, I'm batting a thousand. Next week, all right.

Speaker 1: 49:27

Bye guys. Anson smiled.