FRIENDS AND ENEMIES
Join us for some QUALITY Bitcoin and economics talk, with a Canadian focus, every Monday at 7 PM EST.
This week:
-soft landing dreams
-job number fantasy
-UPS dreams dashed
-regional banks ready to disappear
-Canada’s brain drain
-funding refugees
-drive by shootings
and so much more
From a couple of Canucks who like to talk about how Bitcoin will impact Canada.
As always, none of the info is financial advice.
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Check out the other podcasts on the network:
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Bitcoin and Barbells (https://www.youtube.com/@JoeyBBandBTC)
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The Canadian bitcoiners podcast is just two guys and maybe a guest or two discussing Bitcoin Bitcoin equities and the related macroeconomics space it’s not meant to be Financial advice so please if you’re doing any investing after listening to our program do your own research do your own due diligence
And understand that any money you invest can be lost the show is meant for entertainment purposes only and we hope you enjoy the program and for those that are still tuning in thank you for tuning in because it’s now on to the clown World section of the
Stories and we have lots of [ __ ] clown world to talk about and we’ll lead off with a story from CNN it’s not often we quote CNN with a lead off story but here we are and they’re talking about tenants in the United States that are having some affordability issues with
Paying their rent in fact the article states that half of tenants in the US can’t afford their rent and they can’t afford to pay it and if you look at this trend it’s been trending the wrong direction nationally for quite some time and this is done in in a time where the
Rent the price of rent has been declining for eight straight months as and this is as of December 2023 so you have rent prices going down nationally for eight straight months up until December 2023 and you have the people out that are having trouble paying the
Rent and now it’s about half of the people out there that can’t [ __ ] pay their rent so in terms of the actual amount of rent that’s people are ask asking to be paid the median asking rent is $1,730 and this is down from $4 from November so that’s to December number
And it’s down $63 from July 2022 Peak so it’s been going down steadily over time and if you also take into account the US dollar US losing the value during that time from July 2022 up until December 2023 the client is is even more pronounced so the amount of money you
Will be paying for towards rent the value of the money that you’re paying towards rent is actually going down quite a bit from July until July 2022 until December 2023 but overall the people that are struggling they’re unfortunately they’re falling behind seems like they’re paying for other things that are taking their paycheck
And they’re diverting that money first towards car payments credit credit card bills [ __ ] like that because once you pay it can’t double spend US dollar too once you spend that money somewhere you can’t direct it elsewhere so they are unfortunately half of the people out there are [ __ ] falling behind in
Their rent how many people out there are going to be living in [ __ ] tents once they get kicked out by their landlords this is something that’s troubling and on top of all this think of the people that are supposed to be collecting that rent the landlords and they have their
Own [ __ ] bills they have to pay they to pay um mortgage they have to pay for electricity cost if that’s an agreement or whatever and also so property tax all this [ __ ] and they can’t [ __ ] go behind on that if they do they get foreclosed so this is a trickle down so
This is something I’m looking as holy [ __ ] even CNN is reporting the fact that people are struggling just for [ __ ] rent this is the one of the most basic things people need food Transportation shelter one of them they’re [ __ ] falling behind if that’s not a signpost
I don’t know what the [ __ ] is okay so every time I didn’t hear the beginning of the story but I’m going to try my best to improvise here when jeanpierre cringe jeanpierre gets up in front of the press Gallery at the White House and says the economy is best it’s ever been Jack
Okay she she’s lying everyone knows she’s lying she knows that everyone knows she’s lying and they just pretend and play nice to each other and do this little dance where they try and get sound bites duy is the only guy in that room is asking good questions I did a little digging today
After listening to a gunlock appearance on CNBC from last week he does the fomc after part party basically with uh Scott wner Judge uh after every fomc meeting and Powell commentary and he brought up a stat that I had not heard and I had to go digging on the BLS website for The
Bureau Labor Bureau of Labor Statistics the Biden White House okay so two things that point to the economy being actually weaker than they say it is and more difficult than they say things are the number of jobs is way higher than the number of people who are
Employed which tells you that the number of people who are there’s a number of people who are employed who are working more than one job to try and stay ahead even though that’s the case land the second piece of data that gun gunlock pointed out that I again I had not heard
Of this so I had to go digging for the data set and I tweeted it today even though the the Biden Administration is trying to claim that Biden omics is getting more people to work 85% of the states in the last six months where by the way you can get
Month over month employment data all these states 85% of them let’s say are trending down so unemployment is actually going up over that six-month period in about 85% of the US if you look at the state byst state data but not if you look at whatever rig data
They’re using for the entire country and gunlock makes a point that many people in Bitcoin have been making for a long time either the numbers are being fudged or the numbers are just outright lies because all these things together simply cannot be true you can’t have more people working more jobs and higher
Unemployment in 85% of the states it it just doesn’t make sense and he he makes this case he’s like look for people who think higher for longer is going to go on forever you know I’ll point to two things one is entitlements and the other is just people are running out of money
They’re running out of money they’re they’re taking on debts like you mentioned and I get the feeling the story was about people who are what using credit cards or what was the uh what was the gist of the story I missed the first part of no I’m just filling in
The Gap here as why are they falling behind while they must be having other financial obligations and it’s probably going to be going to be car payments there going to be credit cards [ __ ] like that where they’re probably more dire needs in terms of paying right now before something drastic comes out and
They’re pushing behind the rent which they haven’t been given to second or third notice from their landlord but now once that happens what are they going to do because now you’re going to have the credit cards which still need to be paid the car payments which still need to be
Paid and now you got the [ __ ] landlord knocking your door saying you got to pay the [ __ ] or else will kick you yeah it’s hard and uh you know wages haven’t kept up the US by the way you know nominal GDP per capita up I think 47% or something like that since 2010
Meanwhile here in Canada it’s up like 3% something like that I can’t remember the data exactly the numbers exactly but you know they have it bad wait till you hear how we got it like it’s it’s bad up here and getting worse and I tweeted out
Today that like all the all the Canadian Banks I’ll save this for clown World North but the long and short is the Canadian Banks now are basically saying like look these guys have no choice but to cut this year and if they don’t the pain is going to be like nothing you’ve
Ever seen before thanks to mortgage renewals and and other uh time sensitive debts so I look forward to um to dunking on the higher for longer crowd I would say by may maybe and by the way the higher for longer crowd especially the American contingent uh has been
Celebrating for a long time because the rates have been high but they’re still celebrating because they’re not coming down I would argue and I I made this case to FR of the show SB a little while ago in a private chat we have the thing that the hire for longer guys the sort
Of hire for longer normies don’t realize is that the cut is the last piece of the pie if you look at the way assets have performed housing is performed Bitcoin has performed the cut is already being priced in by a huge part of the market which is the problem for the actual cut
Itself but all it means is you’re GNA have to wait a little longer another meeting or two meetings and the other thing these guys don’t realize L is unlike on the way up okay where it was 25 bips for the last little while that first cut especially if it’s something
That’s responding to a banking problem or a liquidity problem or a war or whatever it’s not gonna be 25 points it’s gonna be 300 it’s gonna be 200 all I’m saying is that it’s going to be triple digits but I don’t know if it’s going to be whatever all I’m saying is
That it’s very possible that these guys are forgetting that it’s not going to be an elevator on the way up and then an elev or an escalator on the way down it’s going to be an elevator on the way down too and it could be anything it could be anything that’s the reality
Everything everything is on the table at this point Market I think markets are pricing that in just a little bit I know there’s some wobbles whatever you can say what you want about the mag s this mag s that the end of the day I don’t think the high for long crowd is
Anything to celebrate and I think the cuts are coming faster than people realize and they’re going to come quicker than people think uh and also for the love of God like don’t tie your entire personality to like the rate the rap regime who [ __ ] cares at the end
Of the day just buy Bitcoin and don’t worry about it it’s it’s it’s a sideshow right it’s a sideshow you know the direction this is going total Fiat where you have people that have the ability to make decisions that drastically impact your savings your your your future your
Future and they could wipe out your past work in an inst in an instant it’s completely insane so let’s try to modernize the financial system let’s try to modernize the monetary system let’s move forward but you touched upon the jobs report that’s something we should I
A good segue to the next topic because that’s truly clown world because January they said they added 353,000 jobs to the economy right and they were saying this was well above expectations but zeroe head was quick to point out that massive Gap they are fantastic they were out there to to
Point out there’s a huge gap between these numbers and the numbers of employed people as you are saying the difference is 9 million that this is not an insignificant number this is Toronto times three that’s an all time CBP quote all time CBP quote there n million that
Is not an insignificant number it is not no sir it is not it’s about it’s about the same number of people pouring over the southern border every day right is that about the same number or I don’t know about every day but okay that’s we could use that as a metric but the
Question that I have and you were asking it too is how many people are working a second or even a third job which is going to be adding to this or I mean even furthermore how many people are working side hustles that are not even captured in all this how many people are
Like walking dogs [ __ ] like that cash [ __ ] gigs never reported and it’s not captured here and people need to do these [ __ ] things in order to ensure that they still have food for tomorrow so all this does is it just shines the light that there’s [ __ ] problems because full-time jobs are down 63,000
Jobs but part-time jobs are up 96,000 this has been going down full-time jobs are down 63,000 part-time jobs are up 96,000 don’t don’t forget it it’s like you could make the case too L like and the nonfarm payrolls and the ADP numbers they use those two data sets because
They they are the easiest to manipulate ADP will never capture cash gigs side gigs any of that stuff while non-farm has its own problems and so the they you can say what you want about the data and people say data’s oh the data is real only only fools the data is fake it’s
Not that the data is completely fabricated it’s that it’s intentionally there’s a fog of War on the data that everyone knows exists but then when you get the the PCT the economic picture from the president or the white house or whatever they pretend it doesn’t exist they pretend that it’s
A clear picture it’s anything but it’s anything yeah and considering that you know we’re getting these whopping job numbers right we’re getting them now it’s [ __ ] we got these numbers for January it’s not February but this is for the Janu the month of January we’re still many months away from an election
Right like it sound seems to me that they’re overplaying their cards by doing this too soon he if they wanted to say that bite anonyx was working you kind of want to push this to be later on because the [ __ ] that they feding pedaling us right now constantly gets revised and
Revised downwards and we’re always looking at his hindsight holy [ __ ] it wasn’t 350,000 it’s actually 110 maybe at best like and they’re saying oh because they don’t have all the data right away not readily available and they have to to dig justed [ __ ] like this is these are massive downward
Revisions it’s not like just fine-tuning something we’re talking like sizable number of people that they’re just re revising these numbers so like I want to say like this is being done now for February and we have another what like nine months to go eight months to go for
The election there’s a lot of [ __ ] Runway we have now and how much more ammunition they have left to try to fool people to say things are working when clearly it’s not and like I said like they might have just overplayed their cards they did overplay and it’s funny
You brought up Zero Hedge I forgot to mention I laughed out loud today or yesterday at the downward revision numbers I was because because as you mentioned like the number of full-time jobs is going way down he keeps on calling he used to call the Bureau of Labor stat statistics the department of
Downward revisions and today he’s calling them the department of part-time Labor Statistics just it’s just it’s a it’s a farce it’s a farce like you can’t run an economy Li damn lies and statistics you can’t run an economy on part-time workers no doubt you need fulltime and
Then some part-time not the reverse just think about Len think about the runoff okay like without getting canceled here if you have a bunch of part-time workers what you’re going to have is homes where parents are not present leads to Crime you’re G to have low birth rates because
People can’t start families leads to massive immigration numbers leads to problems with simulation leads to controversies about the Border leads to people spending you know $330,000 per Refugee per month in some New York Hotel leads to all these different problems the second order effects of things like
Too many people working two jobs cannot be overstated but instead they don’t get stated at all you’re just supposed to pretend that nothing’s happening the data is all [ __ ] fine no one even knows about like no one even knows about this stuff in it’s incredible billions abroad and then spending nothing over
Here to protect the Border how much much it was announced that was 60 million more 62 million more or something like that and Texas is trying to do their own wall Texas should should secede from the union honestly Now’s the Time hold the trigger you know like uh well I mean I
I’d love to talk about this more in depth because what happens to the national debt does it get divied up in a portion of it get get straddled onto Texas because let’s be honest they were they are part of the union and they can’t just be simply let go and say
They’re not going to take any of the debt no way you have to right like you can’t just partake in a party and say it’s great and all then [ __ ] leave and leave every who’s going to enforce that you you play Civilization you play Civilization you and me both play that
Game you [ __ ] nuke them after that’s what you’re doing civilization you will have is like you’ll have like a fire in in like the state capital as these like you know as these other little satellites continue to seced right like people divide and conquer you got to to
Break them apart peace like that’s the way it is I don’t want to talk about I should do we’ll save this for the other podcast that we’re going to do civilization 6 podcast anyways UPS news let’s talk about that remember D story too another good one let talk about this
Because you know drivers they struck up a a deal last year that I was going to pay them upwards of $170,000 both in salary and benefits it’s not 170,000 strictly in salary it’s divided in both salary and benefits I just wanted to put that out there well sadly UPS has announced that they’re
Going to be laying off 12,000 workers and you know who could have predicted this Joey who could have predicted this revenues have been declining 99.3% in 2022 I know that was a couple years ago but even last year 2023 domestic business dropped 7.4% so the 2022 drop is understandable
Because we were coming out of 2020 2021 where people were home and ordering [ __ ] much more than they were in previous years so there would be a drop from 2022 to 2023 but the 2023 number is concerning because it’s showing a reflection of the health of the economy
The US economy as a whole also they also had to deal with strike action that impacted some UPS workers and so businesses were more opt to use FedEx because they didn’t want to deal with the potential strike that was coming and so they diverted their business to FedEx
And other places and UPS got the shaft as a result but looking at this the story is that 2024 is probably going to have even a further reduction in revenue and this is at a time when again as I mentioned the previous time that the US dollar is getting more devalued so if
You’re going to have less overall dollars in terms of Revenue and then you compare that to what’s the value of the dollar it’s painting a really bad picture here now the the layoffs are part of a steady downsizing of the company they had it at the peak a few
Years ago in 2021 2022 540,000 workers working for UPS that was during the coronav virus Peak and now it’s around 495,000 so they’ve trimmed about almost 50,000 jobs in the past few years now there’s another 12,000 that’s being let go so yeah this is another case of jobs
Being lost people are now going to be unemployed maybe for a period of time who the hell knows how are they going to make ends meet I don’t know side gigs part-time jobs something’s have to be done this is again the overall health of the economy is [ __ ] bad and this is
Reflection of it I’m gonna read you something okay I want you to tell me who said it I applaud the teamsters and ups for coming together negotiating in good faith and reaching ing a tentative agreement today that will avoid a shutdown at UPS while this agreement still awaits final ratification by
Teamsters members today’s announcement moves us closer to a better deal for workers that will also add to our economic momentum I’ve always said that collective bargaining works by providing workers a seat at the table and the opportunity to improve their lives while contributing fully to their employer
Success this agreement is a testament to the power of employers and employees coming together to work out their differences at the bargaining table in a manner that helps businesses succeed while helping workers secure pay and benefits they can raise a family on and retire with dignity and respect I’ll
Give you two guesses who said that I don’t have a clue President Biden July 25th 2023 what a [ __ ] [ __ ] like these people are so [ __ ] stupid you didn’t you didn’t think I mean we thought we talked about it even in my Normy circles my buddies and I were all laughing like
These guys are all going to be able to work in a year didn’t even take a year it only six months six months six [ __ ] months for the obvious outcome to become obvious to everybody else I await the Biden statement on the layoffs I think I’ll be waiting a long time
Let’s move on to the next story yeah so we didn’t talk about the btfp program last week and I wish I did because it impacts a story I want to talk about this week because the btfp program they was announced week and a half ago that
They’re going to stop it btfp is being able to sell under water treasuries at par regardless of what the market value is for people it was helping out Banks significantly and they were using this as a way Arbitrage situation to make money they stopped the Arbitrage but still they’re opening up this because
You know it’s helping you know Larry leard at the conference in the summertime uh coined the term the first time I heard it the btfp program stands for by the [ __ ] paper which is great I love that uh it’s a great great acronym great name for it so this was
Giving liquidity to Banks giving confidence in the banks and so forth but as a result of this stopping now it’s going to be March 11th it’s coming to an end it’s not yet finished right now this week we’ve had the New York Community Bank it’s one of the regional Banks drop
40% in value in if you look at their shares one day of trading 40% drop and because they posted a $185 million loss that’s a significant amount it’s not going to get any better once the btfp ends because it’s going to be one Avenue of Revenue they’re not
Going to be able to take advantage of so yeah it just we haven’t talked about Regional banks in a while but we’ve mentioned it that there’s going to be consolidation there has been consolidation Signature Bank uh Silicon Valley Bank if they’ve all been gobbled up by others in fact uh Signature Bank
Was gobbled up by New York Community Bank so it’s ironic that one of the banks that failed was the assets were P purchased by this particular bank that’s a big part of the story well maybe the the the assets were [ __ ] terrible to begin with so um you’re looking at this
You’re going to hear see a lot more of this because I can’t see how Community these sorry these Regional Banks can maintain and Keep Their Heads above water it’s going to be challenging for individuals to keep their heads above water and they’re goingon to be relying
On Banks and all these banks are going to have bad loans that they’ve lent up because people can’t pay them off so it’s just going to be spiraling out of control and I just can’t see a lot of them staying in business they’re going
To have a a lot of them going to be end up sold to bigger Banks the JP Morgans and so forth the Bank of America is they’re going to probably pick up a lot of these uh businesses probably a Pennies on a dollar but that’s what’s going to happen and more consolidation
Will happen within this space and this has been going on for decades there have been a lot more Banks if you look at decades ago United States had a ton of banks comparatively what they have now but it’s just overtime steadily that number has been whittel away some of it
Was just due to purchases but now it’s going to be due to bankruptcies and there’s going to be a lot more this year I’m going to put the sign in the back me day since the last bank failure Bank Run there’s going to be a bunch of it
Happening this year mark my words you think e i I happen to think you’re right and this is part of the reason I think that that Ray cut that first Ray cut is going to be significant and sudden and uh the thing is like once you have fire
Like once a few people start leaving the theater when they see smoke if everyone’s leaving the theater it doesn’t matter if there’s a fire or not you know like every it’s going to be a trample event you know what I mean right and so like this is what you want to
Avoid and you know level 99 in the chat saying like get on zero Fiat I don’t know that I endorse getting on zero Fiat but I sure as [ __ ] endorse having a significant portion of your savings outside the system for some people like I get it there’s a boomer class who’s
Like gold real estate You could argue about real estate being outside the system or not fine but I I get why you would you would like stay there for us on this show people watching listening like I think I you got to be crazy not to have like 15% 20% of your total
Assets in Bitcoin I think it’s not Financial advice you got to have at least that much that’s what I would say um it doesn’t make a lot of sense to have any less than that because directionally if even if everything survives it’s going to be under so much surveillance and control you’re not
Gonna be able to use it the way you want but the likelihood of survival is lower and lower by the day isn’t it don’t don’t you feel like that too L like you’re looking at these every week we got more to talk about it just never
Stops and like I said a couple weeks ago now we’ve been doing the show long enough where we can do callbacks to a year or two years ago and say like man this is a side effect of this problem that we talked about in 2021 and it’s
Only part of the part of the you know end of this issue the part of the resolution the the last bit of this is still to come and it’s XY Z most of the time XYZ involves you losing money like this is that no matter what the rest of
The path looks like the end is you losing purchasing power you losing money why why play the game man just don’t don’t play the game that’s the fix uh it’s it’s to have some Bitcoin so you go wait because there’s people out there that are getting compensation and significant amount of money of
Compensation is being handed out so if you’re in the right circles and if you wait it out you might be able to take advantage I’ll give you an example because the state of New York wants to doesn’t want to be left behind in this particular Endeavor because they have
Secured 83 million for compensation of Holocaust victims and their heirs Holocaust victims now I I don’t want like the atrocities that the German people have portrayed towards a whole bunch of people it was like a 100 years ago almost like what it was 1940s this
Happened but I mean I I don’t want to overlook it or overstate what’s happened with with the Jewish people and other people as well by German it was [ __ ] horrendous so I just wanted to state that right some people out there don’t even believe the Holocaust happened I
I’m in the camp it did one five I think right is the number now the other day yeah I was not there I cannot verify it so I’m just going based on my belief so I’ll just leave that as it is but one can make the argument that the money
They’re spending on this compensation for the you know for helping people out could be money better spent elsewhere because you look at homelessness you look at mental illnesses the crumbling economy infrastructure is just [ __ ] going tits up you name it there’s so much out there that money could be spent
On just to improve people’s lives yeah yeah I can understand why you know people would say that you should move ahead with spending on this rather than that but anyways as I go through this and this is a press release by the governor of New York to get the information surrounding this
Compensation they say that it’s because uh people victims were impacted uh airs um victims and their airs for banks insurance and other material losses so I guess they lost money in Banks as a result of who they were or Insurance didn’t pay out or other material Los so
I could understand that but all this really is it’s just like a [ __ ] another nail that they’re driving into the coffin in terms of Fiat right it’s just a matter of time before compensation is awarded for businesses and individuals that were impacted by 2020 right there was some closures there
In 2020 you can look at the example I’m not sure if you watch [ __ ] I forget the guy’s name Ross I think is he lives in New York and he does um um fixing Max I could be wrong with his name oh Le Rossman yeah yeah of he’s the best like
Gu you have to watch we should get that guy on the show he’d probably come on i’ love to get him on he would like ride around in his bicycle walk around in New York during the closures and he would [ __ ] point out the jokes that’s going on over there where businesses
Restaurants had to build these makeshift shelters Outdoors so people could eat rather than staying inside now you had these enclosures outside that were covering the sidewalks that were paid for and built by the business owners and they had to [ __ ] to deal with the whole uh cost of doing it and then
Ultimately they had less patrons coming in so now they had to build a shelter which was sparsely used and less people are coming in because they’re afraid because of an illness and then so they got wrecked in the process how long before they get compensated it’s a
Matter of time this is com there’s gonna be compensation for everybody so as I say that’s maybe the the thing instead of like dealing with the banks and just you know continually buy Bitcoin maybe just waited on the sidelines and get your you know $183 million do settlement
From uh some some shitty moves in the past there’s got to be payments everywhere coming on a pipe that’s just my thinking I I think that there’s an opportunity here for us um how long you think it would take walk to the southern border like if we just like maybe we
Drove did some like CBP men on the street stuff maybe did the podcast from like my car or something from where we are to the Ontario can Canadian US US border no no we got to walk I think all the way to Mexico right is that where
All the migrants are coming in so you want us to go all the way down there yeah I think it’ be good for Content should how long you think it would take a couple days two days three days if we if we do a lot of driving two days if
You drove there it’s like a day and a half okay so let’s do it if we drive there as long as we get there as long as we get there before 2025 Len because mayor Eric Adams in New York says that the migrant Asylum Seekers uh will cost the city more than
12 billion dollar uh going through fiscal 2025 so we can get a piece of that pie if you want I mean it wouldn’t be that hard just go over there fling your passport into the river and grab one of these coyotes be like buddy give
Me a hand help me out there’s a big big pot of money here that I need to get a piece of at the end of the day this this is you know said in just and it’s it’s a joke in some respects but the bigger joke is
That these guys don’t know how to spend money they just don’t everything is done for political ends everything is done for photo ops everything is done for the wrong reasons over and over and over again and who pays the price you do it’s always you it’s always you on
The wrong end of the stick the short end of the stick you know it’s always you getting the swirly in the [ __ ] toilet just opt out just don’t play the game move to a place that takes care of it people move to a small community move to
A place where you can build friendships and build relationships and do the things that you love and find a job that you like and contribute and keep your sanity and Save in Bitcoin saving hard currency that’s the fix man I’m so much more sayane now even though we do the
Show every week and like just talk about the complete Insanity literally everywhere in the [ __ ] world uh I’ve never I’ve never been happier everything everything’s just easy right like I I look at I look at like my sort of day-to-day I’m like yeah [ __ ] none of this really matters that much like just
Saving nothing nothing else you can’t you can’t hurt me and I’m Teflon I’m Teflon yeah because I look at the price of Bitcoin for instance and the price of Bitcoin because you know I I do have a decent amount in there could go up or
Down 20% in the [ __ ] day and I won’t even bat an eye okay what’s next on do I buy more today or should I buy more tomorrow so that’s what it’s essentially because I know because I know that the Bitcoin CEO is never going to announce
That between now and 2025 he’s paying 12 billion for migrants I know that the CEO is never going to announce he’s paying you know Holocaust reparations again don’t cancel me okay I’m just saying that the point is it’s predictable it’s never political and it’s never done for
The wrong reasons in fact there’s no reason behind it it just runs the way it’s supposed to run the algorithm dictates that’s it nothing else it’s predictable it’s almost like predictability is a good thing right we try and we try and implant synthetic predictability in everything we do
Through the stuff like the Federal Reserve and Central Bank policy and all these other things there’s just no such thing as predictability when the you know heavy-handed uh human touch is is part of the equation well we we we don’t seem to be able to figure that out
Outside of Bitcoin we’ve just never been able to figure it out the only thing for sure is nothing’s for sure yeah let’s move on to clown World North and I guess we’ll lead off with a story that isn’t really clown world but is certainly noteworthy to discuss because Doug Ford
Has announced that they’re going to be moving ahead with refurbishing the Pickering nuclear power plant yeah and this is a result of the growing demand for electricity you know we have more Electronics nowadays more than ever before plus we have electric cars being more prominent people are buying them
And now it’s getting legislated that we have to buy them so yeah the refurbishment of this plant is expected to add an additional 30 years of life to this power plant and the existing C do reactors that are dating back to the early 80s they’re those are gen three
Right I think is the I have no idea yeah we we got to talk to Ryan again because I I was trying to explain this to somebody the other day that the reason the candos are important they’re like that was like really quality technology for small reactor right and I think
Those are gen 3 We There are gen fours available but now we’re working on developing Gen 5 five Ryan help me out here buddy when you hear this send me a DM uh and and explain this to me in terms that uh someone who took a fifth
Booster for a pack of [ __ ] french fries would understand uh because I need to be able to share this with people when they ask yes yeah I have no idea what generation it is but so they’re going to be refurbishing it adding an extra 30 years onto the lifespan and in
Terms of the the overall generation the power Des being generated it’s going to be roughly the same about 2,000 megawatts are currently being generated now and after refurbishment the same number around 2,000 megawatts are going to be generated so it’s not going to be increased it’s just essentially just
Extending the lifespan more than anything else and Ontario seems like a good place for people who like nuclear power because we aren’t closing any plants here like they are in Germany or what like they are doing right now in Spain in fact last summer we had the province announced that it wants to
Double the production at the Bruce power and that’s already the largest Generating Station in the world and in terms of the breakdown of energy being generated in Ontario nuclear provides us about more than half of the electricity that we have hydro dams make up around one quarter of Supply gas fired power
Plants and wind farms combining for just a fraction of the remainder so there you go that’s the breakdown so the majority of it more than half is from nuclear and so yeah I think this was a great story and I think this this was this should be
Brought to light a lot of people really aren’t talking about this but Ontario seems to be a great place for nuclear power we’re embracing it more than other areas which I think is it’s a breath of fresh air we’re we’re the model green chicken doomberg friend of the show go
Back and listen to the episode we did with him in 20 I want to say 21 but it could have been 22 I don’t remember now exactly when it was but uh I don’t think it was 23 I really don’t know time is flying then we’ve been doing this for so
Long we are the model for nuclear power and getting off of what all environmental zealots call you know uh emitting energy forms um so good for Doug Ford I mean a lot of people complaining about uh service ontarios and Staples or whatever like all this kind of political nonsense but you’re
Going to get cheaper more reliable power if this continues and and uh not if you listen to the green guy the the leader of the green party was saying that energy the cost of energy that’s being provided by the picking plant is higher that you would yeah he’s a [ __ ] like
That like that guy he’s a [ __ ] idiot that’s all so I mean what else what else can you say about these people I’m done being nice to people like this because I I live in a place where where power is important you know we’re Canadian I need
To have reliable power during the winter during the summer it’s too hot in the summer and it’s too cold in the winter and I have an elderly grandparent who needs to be at a decent temperature who’s in in a hospital right now recovering from a pacemaker like I was
Saying last week who needs to have machines that are reliable and technology that’s reliable and that starts with power the these people are either lying or stupid enough I’m not going to be nice to them so good for Ford you know he’s got his shortcomings whatever but um this is important and I
Think it’s also something that’s really going to be tangible for everybody and again listen to Green Chicken on on our show I think he did Brandon’s show Green candle uh maybe not on this topic recently but last year around the time when everyone was talking about this
Kind of stuff he did it uh I think Ryan McLoud uh has done a couple of shows including safe Adin talking about this kind of stuff in Ontario and there’s there’s others too Chris kefir and a couple of other people who are thinking about these things where all the
Smartest people are coming to the same conclusions and the only people who aren’t are the people who stand a profit from these other inferior forms of Power substandard Equipment substandard uh technological you know reversals uh anti- Innovation stuff you know you do the math man it’s not that hard to
Figure this out these people are grifters and cons so uh Embrace nuclear it’s it is your future whether you like it or not the same way Bitcoin is Right others to it I got four more stories you want to just Hammer through them because there’s some dooy here yeah let’s bang
Them out maybe we go till 850 instead 8:45 okay we’ll do well we can because food prices are expected to go higher in Canada because remember we had the government impose a price freeze on Grocers and this is going to be coming to an end this week for Metro customers
So what’s going to happen as a result from all this well obviously prices are going to be higher higher as a result so the profits that they lost on from this price freeze I’m assuming they’re going to try to recoup this as much as possible moving forward but there is
Competition they’re going to have to deal with as well I I don’t think there’s collusion going on behind the scenes again this is my opinion I have no proof to say this but I think competition will try to keep prices down as much as possible but still I think
All these grossers that lost out on extra Prof profits from this price freeze I think they’re going to try to make do and to try to recoup some of that that’s been lost so people that have been struggling to pay for food they’re going to feel the pain even more
Because this week Metro’s price read price freeze comes to an end I was gonna pull up a graphic but I don’t want to out the guy who posted it and I’m having trouble figuring out how to do that there’s a thing floating around with Pierre PV on it that’s uh
Basically claiming that it’s part of this whole thing that gayen Weston is like price gouging and I don’t know enough about gayen Weston to say whether he is or isn’t price gouging but this whole thing this graphic is basically making the case that as these price
Races come to an end we’ll return to this price gouging regime and pay more for groceries because of the greed of one man one Corporation I disagree with that and the the the graphic is uh headlined by Red text you guys can maybe find this I’m not going to tell you
Where this is but I found on Twitter a couple times today posted in uh my left leaning circles here carbon tax grocery facts sources the National Post September 21 2023 okay you make it this what you will carbon tax is responsible for less than 1% of today’s grocery price
Increases 90 cents on your $100 bill in Ontario 40 cents on your $100 bill in Manitoba and 30 cents on your $100 bill in Alberta Bank of Canada reports carbon tax only added 0.15% percentage points to inflation that’s wrong you can go to syvan charo’s uh Twitter handle and just type in
0.15% and get a whole breakdown on how the Bank of Canada doesn’t understand the coefficient that he’s asking for and gave him new data when he asked following this kind of fraudulent testimony from uh Tiff and and whoever else uh in front of Canadian Representatives not long ago and it also
Goes on to make the case that farmers already exempt from most of the carbon taxes majority of greenhouse gases and farming come from biological emissions they’re exempt blah BL BL what it doesn’t talk about is the cost of stuff like Transportation keeping lights on at grocery stores uh you know anti Plastics
Legislation things of this nature um the uh the salaries of all employees going up and all this stuff this is an example of when your you know horse blinders get in the way of having a productive discussion with the other side of the argument because ultimately you know
High grocery prices hurt you regardless of what political stripe you wear right I would say I lean conservative and I don’t like paying more for groceries my wife and I laugh all the time we go to the grocery store and see the price of stuff now um but you know whether I was
Liberal or conservative doesn’t really matter I still don’t want to pay that much and I want to know why things are more expensive at the end of the day what you’re seeing here is a is a you know both political parties are trying to blame the other for the carbon tax
And for supporting um for supporting legislation related to you know whatever price gouging I don’t know you call it whatever you want at the end of the day L why are things more expensive what is the leading cause of things being more expensive more than anything else it’s the devaluing of the [ __ ]
Money and they gonna say it’s also um supply chain issues and stuff which is they’re trying but there’s something I just want to point out that in today in the House of Commons the question period they were talking about and I didn’t hear about this last week I just heard
About it today so I don’t know when this was first reported but there’s a lobbyist that is employed by one of the Grocers I don’t know which one in particular but one of the big Grocers yeah and they’re actually this particular lobbyist is um is actually reporting information this is what’s
Being allegedly reporting information to uh POV and team and he’s part of calls with the conservative team oh she’s part of calls with the conservative team and relaying information so she’s playing both sides of the fence where she is a lobbyist trying to help out the grow Grocers but she’s also giving
Information to PV and team and trying to help steer their um their not their agenda but their their policy and so forth so there there seems to be something that’s fishy around this I don’t know too much about it this was first reported today and I I don’t want
To to paint too much of a bad light but there’s a lot of shenanigans that are going on and um I’ll just leave it at that I mean what’s the difference between that and like Katie Telford having been a a lobbyist for fiser recently nothing we’re gonna pretend
This person this person is still lob right now we we can pretend there’s like a PO listen if if the case if the case is that active lobbyists shouldn’t be working with politicians good luck number one number two you know if if if everyone is just going to pretend that
There’s a porous wall between someone’s past Endeavors arguably that led them into the position they have now and their current position you know good luck with that too this is the nature of the game politics is a crooked game it’s been crooked for a long time it it’s not
Going to change anytime soon one of the reasons you know I take Bitcoin so seriously and I’ve basically detached myself entirely save for the stuff we read for the show from Canadian and American politics is that I just don’t think it matters anymore everyone is gunning to to feather their own nest at
Every level constantly with no exceptions and you know you’ve seen this enough times now the system you know it spares no one the best man or woman could enter into that system with the best of intentions and be ground to a fine pce in the matter of months and it
Happens over and over again so I remember that they they and I’m looking at it right now the act the lobbying Act was done in 2008 under the Harper government because they wanted to make it more transparent and I don’t know if this is against the lobbying act I’m not
Saying it is because I don’t know enough about it plus I don’t know enough about the lobbying act but I I do know that at that time they wanted to do something to make lobbyists more transparent and to be less effective in terms of persuade politicians influencing policy yeah yeah
So like this is something that’s I don’t know I’d love to to dive deep to do this is something just came out today but I’ll leave at that it’s really hard like the the the idea that politicians who stand to benefit the most from Lobby dollars are going to enact a law that
Limits the effectiveness Visa obviously donations you know it’s it’s laughable this is ever going to be successful or enforced or not have loopholes or I mean come on what do we talk about these guys are really going to bite the hand the feeds it’s not it’s not it’s not a
Serious piece of legislation it’s not none of this it’s all you know this’s reason we call the section clown World guys it’s just none of it makes any sense it’s just it’s one thing after another everyone’s just pretending it’s it’s like a it’s like a Shakespearean tragedy here you know it’s become a
Comedy over the years for Len and I but people it’s Cloud World extreme let’s let’s talk about this right now I love these clown World extreme stories and before I I talk about this clown World extreme I’d like to to just pull you quickly Joey what would you say are some
Reasons and they sucks that we have driveby shootings but give me some even you know remote reasons why there would be a driveby shooting I want to hear a drive by shooting yeah like what cause a drive by shooting to happen maybe you don’t want to get caught like
It’s easier to not get caught presumably if you’re doing a driveby um but what would what would be the rational you can’t find parking to do the shooting so you just a come back and hope the guy’s still out there so this this is an Associated Press article
I’m GNA read this this is okay so no opinion or anything for my this is straight from the associated prize okay clex they’ve cancell the screening of a South Asian film following four driveby shootings at theaters throughout the greater Toronto area the day it premiered in the GTA in the GTA clex
Spokesperson Michelle SAA said the theater chain pulled the action film Malik kotai valiban due to circumstances beyond their control Saba adds that coplex is working closely with local authorities who are leading an investigation related to incidents in their theaters driveby shootings at two York Region theaters could be linked to
Simal incidents simal incidences in Toronto after an employee arrived to find a window has been shot out same day police responded to similar instances that theaters in Von Scaro and rampton police say all incidences occurred in the early morning hours and no injuries were reported and York Regional Police spokesperson said the investigators
Believe these are connected and targeted due to similarities between them so there you go there’s a movie that was premiering that’s causing people to [ __ ] do driveby shootings I can’t believe that we got to a point Society has collapsed so [ __ ] much that we have this is a trigger point for people
To go nuts and [ __ ] Trier Point did you do that on purpose yeah you like the fun there but incredible that we finally reached to the point where that’s it a movie is coming out I’m [ __ ] pissed this movie is coming out how am I gonna
Voice my displeasure no I’m not GNA put a bad review on [ __ ] Google I’m gonna go there and shoot up the [ __ ] theater I love it man this is a [ __ ] joke that was all from new Associated Press by the way so I’m not [ __ ] adding any color or anything that’s
Straight from them so the AP I mean so what they’re running a Bollywood movie in some GTA theaters and people are driving by and just firing shots at the building middle of the night like what yeah and they’re [ __ ] pulling it as a result of how do they know it’s because
Of the movie like that’s the part that’s missing from the story the cops obviously think it’s because of the movie but I mean why do they think that I guess they were all playing at all those theaters rather than others because Bollywood movies are not playing at all theaters they’re playing at just
In certain ones and all these ones that were playing this movie and it was premiering on that day at least not all that they all the ones that were shot at that was the commonality is India India has a space program now right and uh well they have 1.4 billion there’s lots
Of space problems over there can’t move without the no they have a space program they have a space program they sure do they they land on the moon allegedly and I I laughed the other day because I was thinking about how like cheesy the moon landing stuff looked you know from their
Cameras or whatever and I thought should I really be surprised by this like if I look at like Bollywood action sequences it’s some of the worst most like tacky stuff ever and I was like these guys are just basically America in 1960 right like they they’re doing the moonlanding
The action sequences still need a lot of work they know that’s the trajectory they’re on they’re like uh you know still doing kind of shitty shitty film and shitty Space Program I don’t know anyway I was just thinking about that the other day like that’s kind of weird
But any to your point about the Bollywood thing the movie theaters like why why are you shooting come on just that’s [ __ ] up come on don’t do that I’ll do that stats can say that the Canada’s fertility rate hit an alltime low in 2022 shocker so it’s
1.33 children per woman in 2022 and this has been TR trending downwards for over a decade not very good here and this is essentially why we need immigration because you’ve mentioned it many many times the number of people that are working per pensioner is much lower what
Is the number you Banting around 3.5 people per workers per was seven now like three and a half yeah so that’s why you with birth rate being very very low with couples not willing to not uh having children because a variety of reasons and women also not having
Children for a variety of reasons immigration needs to fill in that Gap without it then pensioners would not be able to but it’s still not working like what we can’t keep pretending it’s working everyone the loone hour guys are on this Rich Diaz specifically has been
On this for years now like the per capita GDP is fall falling and per capita GDP is the the thing that matters in the equation you know when you’re asking the question whether or not you have a kid there’s also I want to get this this guy who did the movie The
Birth gap on the show too I I have to like pay for the movie to watch it because I do want to watch it at some point but he he’s making the case that there’s a lot of factors that go into to declining birth rates L and we got
Almost all of them like like women uh feel their career can’t Advance when they kids you may feel one way or another about that I’m not going to discuss it here but that’s something that we’ve seen in Canada uh people are working more than a
Standard 40 hour week or 35 and a half hour week feel like they can’t have kids that’s something else we’re seeing in Canada Vis the two jobs thing another big one L the more high density housing you have or high density buildings you have in a country the lower your birth
Rate gets we’re we’re actively going that direction now in an attempt to solve a problem that we created for ourselves via a low birth rate uh bringing all these immigrants right all this stuff together like you’re you’re entering into a spiral and Elon for all the [ __ ] he takes on Twitter about you
Know the number of kids he’s had and baby mamas and all this stuff he’s right about one thing you we got to have more kids and I appreciate that we’re trying to solve the problem I shouldn’t say solve solve is the incorrect term we’re trying to papier-mâché over the problem
With more immigration but do you think 20 Indian students living in a basement you know attending ala University uh for vegetable cutting are going to be having a lot of kids no there’s it’s too much of anything is not good there so you have to find the balance what is the
Balance I don’t have the numbers I’m not in a position to make those uh to make those decisions but whatever it is that the numbers now is arguably too much but zero is arguably too little so you got to find that balance what is enough and
In terms of what capacities in terms of economic class versus family class versus whatever there’s a lot of playing here and plus you have to deal it with refugees claimants as well Asylum Seekers so you have to figure out what is the best number you have this is my
Opinion I could be wrong immigration is needed in order to keep for sure it’s needed it’s not needed at you know a two million a year or whatever we’ve been doing corre I clearly we’ve done something wrong there um so soldify in the chat making a good point that like
Normies have to make sacrific St kids you’re right elon’s not the best example that’s why I said like he’s I think he’s rightfully taking a lot of [ __ ] for the stuff he’s said about this topic but he’s right should be trying to have more kids the question is number of kids
Right yeah he’s got like seven or eight or something like that crazy enough to raise a barn I’m pretty sure so I don’t know like and then like don’t get me started on stuff like porn dating apps because I’ll go for a long time on all this stuff it’s clear that there’s a
Problem with like parito and dating and reproduction clearly uh that’s going to be hard to solve because no one’s going back is that an acronym for or another way to say no Paro Paro principle is is this idea that you know 20% of any population will will give you 80% of
Production so you hear sometimes yeah 20% of Staff will cause 80% of problems in a workplace I I would make the case and I’m not the only one making this case that 20% of guys are doing 80% of the you know sexual interactions these days thanks to stuff like Tinder like
You just don’t need to you don’t have to go to the bar girls don’t want to go to the bar men don’t want to go to the bar they just go get on the app and start swiping right so anyway all this to say that uh there are bigger problems than
Immigration and you’re right there’s a balance there we haven’t found it and I would argue then that not only have we not found it I don’t think any country or government has found it no no I would argue that maybe we did have it and it
Maybe not too long ago we did have that magic number which we didn’t have the problems in terms of housing newly landed immigrants and you didn’t have a lot of other issues that oh sure sure sure sure so I you know I I think it was
Like 10 years ago so it was around 250,000 people came to Canada annually which seemed to be a number that worked it just you know people were able to assimilate and um they didn’t have the same problems you have now so I would argue that’s probably a better number
Now it probably should go up given the fact the um population overall has gone up but that’s you know within that goldilock zone I would say there’s there’s tons of issues right like who knows maybe a million is the number but they can’t be a million in Vancouver and
Toronto like that’s another problem right if they’re all going to settle in the same region can’t unless you unless you force them which is I think it’s impossible to go to other areas let’s be honest when somebody comes here they have their own free will if they want to
Live in cbdcs till cbdcs come in next year like I think they’re going to yeah I don’t think it’s coming in that soon know anyway should we wrap it up let’s wrap it up I still got because I still gotta edit this after and it’s already let’s do that okay God God bless
Everyone Len who you got on Wednesday you’re doing Wednesday this week who you got oh shoot I forget his name but he’s going to be coming in he’s a small business owner he’s actually a Serial entrepreneur nice and gosh I forget his name but I’ll tell you right now I just
Got the calendar out here you are talking to Nick to topalovic topich toic I like the way it’s very very good I think a Croatian last name but I could be could be Serbian okay uh and I he has added Bitcoin to his balance sheet
His so this is something that I like to talk to people that are doing because I think a lot more businesses are going to be doing this moving forward it only makes sense if they have a little bit extra scratching the side rather than just leaving it in cash or doing
Something else maybe they’ll they’ll bite the bullet and just park a little bit in Bitcoin and he’s doing that we’re doing it here at the CBP a lot of others are doing it Ali just announced I think yesterday buy yeah another big buy and
Uh we got you know this is the way to do it and I I want to talk to him about his issues that he’s experienced with it and what he’s learned maybe we could share this information so somebody else that is looking to do it can pick up on what
We’re doing and do it for themselves so that’s what that’s what I’m going to be doing on Wednesday looking forward to it until then everyone uh thanks for coming chat was popping as always tonight take care of yourselves be good and uh we’ll see you Wednesday night yeah don’t be a Cuck don’t forget everybody lots of other stuff on CBP media Network including two whites and a blue me Joey my brother-in-law Mike and our friend will talk about all the problems Millennials are having with Finance romance and just getting by uh if You’ like CBP if you like uh the NHL 94
Podcast I guarantee you’ll like that one search for it two whites and blue anywhere you get your podcast we look forward to seeing you
1 Comment
Best hockey game is the original, 'Mutant League Hockey' 100% .Period.