« The Jimmy Dore Show

BONUS! Corona-Money Talk with Dylan Ratigan! Episode 7

2020-06-03 | 🔗
“ Jimmy Dore is outrageous and outraged, bothersome and bothered, a crucial, profane, passionate voice for progressives and freethinkers in 21st century America.” -Patton Oswalt
This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
You are listening to a Jimmy door. Show bonus, corroded bunny talk with Dylan Radegund money and the economy during social upheaval, and- the cove nineteen Pandemic Episode seven Will we have Dylan Radegund here with Corona Money talk with the spring and right and you know him he's award winning reporter best selling there are times author he's the host of truth or Skype always forget What is the name of your podcasting Dylan? That's right through their scepticism with Tom size, not partake trade is here with us right now, the one the only Dylan Radegund with Corona Money talk. Ideal and oh, are you Jane it all by Europe? The pleasure pleasure talking to you so now when they passed the cares acts the first a stimulus, third stimulus build a big one. That was the fight
trillion, dollar, upward, transfer of wealth. I immediately after they pass that without giving a you be I'd to workers or people are without giving medic care for all health care to people side of a pandemic or cancel dad orbed or cancelling red or cancelling more without we any of that, you immediately had predicted that there would be social unrest and so what I've been telling people they will begin to talk about. Does the Democrats lack of response to what's happening right now that if Nancy below the instead events are releasing another insult tirade at Donald Trump. Would draft legislation to give to thousand dollars to every human being in the country every month and if everybody Healthcare student loan relief and education? You wouldn't see these rights right now. That's my position. What do you think delanne yonder? I get That's right! I think that dumb, we have been on a tragic path that has been rapid,
we and arrogant way, sort of water down by the political class. and when the pandemic came, it was like taking the safety off about God, instead of putting their safety back on the media, meaning job budget? asian meaning you be. Meaning that it you're all the larger, larger issue, unfortunately, which just has to do with the structural degradation of humanity as a condition really on the planet and certainly in the society- and, I think, be close very that sort of psychic. the aggregation that is at the foundation of words. Regions entitled qualities of aid or whether its reading airline treat you when you buy a fine together, whether in the way social services treats a family.
Or whether you have been so many expressions of that degree Violence in our culture that d Extension of that degradation into the pandemic. Had a level of arrogance. A bank- or I don't know we conjure to try to understand what's inside of it by anyway. We know it. parking owes. Biological cried, is economic crisis, a social crisis, your grave and then ultimately a military crisis. We have obviously biologic crisis. We have obviously an economic crisis german pow who you talked about last week, really has What did a financial crisis improve understanding of the economic crisis? As I can't I can't pay my ranch. I kept my car. I can pay the rent the small business like a great painter, went on this big business that an economic crisis, Financial crisis is there, the money in the system
because you're too many defaults and now nobody can get any money of unitary not to hold out which would have an However, the economic crises can provoke a financial crisis anyway, that right now is not a ramp. It's not a thing as possible Can do and what did he want. Obviously the social crisis has become an rightly has taken centre stage. the most tragic as possible? It really now, when you said that ITALY, when you predicted a very prescient Lee predicted that there would be social crisis either the straw that broke the camel's back was the killing in Minneapolis that was bought. The tender was the economic damage. station. That Americans have felt sense in my home, most my whole lifetime. So I said licence, Ronald Reagan and The and the lack of a rational response to it from the left
has been no rational response to our economic devastation of our middle class and working poor and what they ve. On his double got: abide made his political career, putting Blackburn in jail right, and soon while air right. So now, when we have this guy, like when we have a guy like Donald Trump, the answer to Donald Trump, that they left it offers or the damaged the opposition party offers is, is another trump with with the with a nicer demeanor. That's it and, and Joe Biden has no idea how to fix this crisis. He has no idea. How we got here is a new idea. We got trump, even though he is directly responsible for drop the eight years he's bent in the White House and, of course, the time he's in the Senate. Writing things like the crime bill and deregulating wall, street and screwing people and bankrupt These Joe Biden has set the table for this to happen, and so, when you predicted social unrest, I dont think
and I dont I didn't have any idea would be like this, and not just give you one little. Anybody example here is a woman walking up to a cop asking your watch happen at when the curfew kicks in at eight o clock and lets. Her was response, trees, do what's gonna happen and serve with my own eyes. You heard what he said, she asked him what what's going to happen at eight o clock and he said: what's going to happen, is we're gonna start beaten. The fuck out of you saw that I saw that quite a few hours resolution without So I don't have to really show you another video, but I will Here's the video of them actually doing that her they now is. That is that, The Taliban in my country is that Al Qaeda is that Al Qaeda in my country is that ISIS, because I could
Imagine anybody acting more violently more perverted in it It is enforcing law in the world, I can imagine it it's happening right here, so. we ve set at the show. Since I started this show whatever we do to people over sees. We will eventually due to ourselves and we're doing it right now. So this is not only did the oligarchs come in and rape, the country of our natural resources and take five trillion dollars right out of your pocket and give it to the richest. thousand motherfuckers, but they also didn't give you health care in. They also closed down your business, and they also didn't give you help with the rent or your mortgage or anything. It is It is an unbelievable ass kicking that american citizens are taking from this rapacious oligarch. Be right now and the end the police are, is bad.
is any thing I've ever seen from Nazi Germany too, what are you name? It were. I can't think of a place. The cops are now the gestapo, they are now the S s and they our brutalizing American. You know what I dont see video of Deer Dylan. Is I've never seen a video of cops brutal raising looters. It seems like the cops why, people to delude, so they can go cracked. The heads of peaceful protesters more have used. In a video of them cracking heads of looters. I've only seem police killing cracking AIDS and beating up and brutalizing prove peaceful protestors. Yeah I mean I, I understand the decision making and We see very, very clear one, I'll be back I think I know I've been trying to take a slightly different perspective. I guess it's bad not that there is any untrue, through a door in
leaving out better people, seeing obviously the police, where are you exhibiting and I've been exhibiting more there is violence both at a culture the system, etc, etc. Also, there are but good cops right, at the same time that the huge a beautiful protests for Justice there are also many Those your take taking advantage of the situation to rob the apple store. Now I think bigger ain't, you I think its upper me. Anyone else for me personally easy for me to go drawn, it would have whatever the narrative of that primal rage is, but what is apparent to me, The imperative- Remember, Hong Kong wrote asked whether you like them or not.
Specifically require. and wanted a bank or a series of things not just to be in resistance to everything or even something, but to secure a specific way and when you look at me consequently, the injustice better that a foot here recently on a regional level with the black community in America, going back to slavery, down economic level, really going back the boundary of the country and the obvious. Your coming or united without trial. Does your calling relative to the idea, the aspiration of the sort of mythology Dear Adobe mythology g of his country and the gas, and I would be that the latter issue, but I think that the only path right now is to vote.
Bastard people can call. Alas, around demanding the and, of course, by be ready for the police, or that does not offensive total. In an importer ability or private and believe. Relative daddy murderer wrongdoing the immediate release of all non violent drug offenders in american prison system. There are some very obvious structural operations that exist right now, other agenda protective below average of the police, the union's or whether it is again incarceration of the non violent manner. community in this country that are obvious and there is a huge opportunity to recognise and harness
the power of that solutions to murder this vile energy at his eyeballs or like a black tar, all of the earth which is what's running through all be all that is all that. All this It's all me. Redeeming quality is Incredible momentum to create, for? and velocity for structural change. Unfortunately, that the logic and and frequently goes more violence and more tragedy more murder. However, very is the possibility that some of that are all that more that can be harvested poor. That has value so that you know all the damage like it, They go about. Loss of life can be created, for some
structural change which what causes and somewhat pessimistic for, because obviously we get to the point. Get to the point it has got to do a great deal to do that exact thing, but the kinetic energy loose, and in a lot they're going back, you you want to go back for years. What do you want to go back? the key is whether you want to go back when I gave you wanted. Back to the financial crises? Are you go to go back last week to George Floyd right here we got right and everybody replacing talk about. It is about the way the Gallagher Payment, always all things energy must be focused on immediate structure. Warm where our three of nonviolent offenders,
qualified ability in the police at the top of the list and any power any reader worth a damn. Who wants to help the country people at any person, instead of simply ok the blame of the atrocity. That is it where the police aren't. You while the police are brutally agitating very all our all the looting factors from the left from the right, energy, etc. There is, this huge Sergio, peaceful protest? There are people tell you live a woman who the police, cheap land has been, but sometimes You look like a grave largest occupy. Whatever story I want to tell, but their own story than another they lack through their merit. None of them move closer to disillusionment. Much must bear itself out immediately in Poland, reform on incarceration and
reform on qualified to be are at the centre and really then type the basic economic depression and gradually ability of basic resources. Like Algeria, We gotta move, rob you be I bet you are all familiar an unresolved issue. Haven't you do it bob? I really am The president of a complex area relates to non violent, frequently Merida, marijuana or other dry Binders for violation with prior died by drug offences or They are associated with violent drug offences and the compounding fact of all those bearing has we're going to college and huge action of urban neighbourhoods, country are huge oh god,
huge economic cost. we can debate whether my particular points on prison reform. Then, how about a barrier, the right answer, but I'll tell you there. What are you getting at all right now? What we're going to do? this energy because We do not getting a what could do with this energy we're not able to find grace. The tragedy. well continue to consume battery. So what you are fearing to is that this is another protest. We had seven hundred thousand people in the streets in LOS Angeles in January, of twenty seventeen to protest trumps election, but it didn't have a Pope point there was no demand, and so You're saying is again dislike with occupy. Why three they didn't have a demand, and so we need
Have a demand, and so what I ve been telling people as we need to have three demands We too have you, be I immediately medicare for all. We need to have a promise, just like you said my was saying: demilitarize the police and turn it over to the communities. but you have boy more specific, zero talking about getting rid of qualified immunity, which is where cops get special protection.
In order to murder you and so tell people a qualified immunity. Is I mean I'm not even an expert myself, so I don't want to stay too far outside of my wrangle may knowledge, but my understanding from what my have only recently been trying to understand what can be done and what you know of a student as much as I am a teacher on this one Jimmy the mindset is that the threshold for liability for a police officer in the line of duty is strongly in their favour relative to the law of, but they kill somebody while their working in a way that no other job has, I think, there's on dense, understandable understanding the job. I think it's also right, but obviously huge opportunity for abuse and needs to be resolved, and I think that when you are sells, it deserves to make the point
these prevail in as much as anybody else. The police do themselves with a disservice with their behaviour, and so I get about moralising. What I want I offer this. I'm really more pressing again for for something that some set some semblance of grace. In, because we already have already have obviously a number of people who have guide no police which, being George Lloyd and in fact, that that list of mostly black men, whose names will never even now, that the value and that has had to pay a bit must be seized. At this moment that everything be lost? I'm with you the problem with giving it a demand. of for prison reform. Is that the corporations,
in a push back really hard. And, of course, we ve seen that we do We have no representation in our government federally anyway. We have no buddy standing up for us on the federal level. I mean no by being absolutely nobody, because they just set in motion for this to happen. Every Democrat, every progressive, that's elected A federally in Washington DC helped make this happen, including Bernie Sanders when they pass. That cares act screwed everybody, instead of making sure, instead of using their leverage at that moment to make sure the people were taking care of first. So they did. you have this kind of anxiety and though they did it and explode like it's. Loading right now it. So this is making a direct connection to the Cares ACT and the failure of Bernie Sanders and every progressive in Congress to this end still have no answers, they have zero answers? Okay, so that that's the problem is so so so they work for
corporations or the corporation wants the slave labor. They get from the prison industrial, complex, plus the people who make billions of dollars a year off private prisons. They own nose. legislators and there are never ever going to lead, just like something that takes money away from those people there never gonna stop sleep. labour, Comma Harris when she was the attorney general here in California, was ordered twice by a judge to release prisoners. She wouldn't her office, argued in court in front of a judge that she could wooden release prisoners as ordered twice by a judge because it would mess up their prison labour system. So that's exactly donor class telling Koala Harris. Don't you dare screw up our prison labour, which is really slave labour? Who does she follow? She follows the donors she's a senator. Now she might be the vice presidential candidate. They still feel the exact same way. So that's gonna. That's our bit
problem, is we have no one working for as inside government whatsoever and we are a key A complete all we have no democracy, so there's no a vote? Our way out of this and the only way to get out of this is direct. Action in the problem is there's no leaders of this direct action. There's not even else Sharpton isn't even out there. If he's he's so bought, he won't even show his face like there's. No, where is Jesse Jackson? Where is he There is no less where's where's Barack Obama, words Brocklebridge, my words, Michelle Obama, whereas com in power where the leaders in America they are fucking nowhere where the democratic leaders, they are no, where all they could do. Is Wagner finger at the village. Eighty, it that's all there doing once again, all right, so I made myself let's move on and are now show you anymore cops, but this addition Oh yeah, you know. If you saw the picture of the the cop pointing
what looks to be eggs, he's either going to shoot a a grenade at a guy's head in the guy's got his three year old baby on his shoulders and there's three cops reporting a gun right to his head. It is It's an amazing. I mean if that doesn't If you need to see anything else about America, regular I've seen the picture you up for me. I look at all this as indication of how how degraded everybody in our society has become, and the tragedy that surrounds us from that degradation and the culture of aggression and violence and the opportunity that is here. It is a unique opportunity right now does it happen. Very often so
or for some real great. So what? If, if you ask me point blank what're, you gonna do to fix the policing problem in America and three steps. I would do three things I would say you have to: u have to first could change too. Training and stop having them being trained by Israelis, you have to that the warrior training and you and you have to stop the fear based training. Because now When I was a kid growing up, the cops job was to make yeah, I got home safe now the cops says his job is to make sure he gets home safe at night. That's not a cops job it when a cop says that that means his life is more important than years and he'll do anything to you to make sure he stay safe. That's the opposite of what a policeman is supposed to do policemen have a monopoly on violence and they're allowed to carry a gun and they have qualified immunity. So that's why a copy supposed to put him
often between me and danger, and so he supposed to sacrifice his life, and that is not how people are pleased. So I would strange the completely change the training, that's the number one! You stop training it brought by Israelis, you stop the warrior training. You stop. The fear based training number two Oh, you have communities dictate to the police, how they're going to be policed. not the other way around, which is how it's happening today. In cities like Minneapolis, you have that mayor directing the police, To train the cops, a different way and the police union hires their own lawyer and tells the mayor to go pounds and we're going to keep training are cops to be vicious brutal maniacs. So that's the problem with the police force, because its own independent body and it decides how it's going to terrorize of city and that so you- those that's that's this has the second thing I would do in the third thing I would do is too I would take away their police union, and I would also I would also
make sure any finds that our level, Against a policeman spurs action come out of that policeman's pocket or his pension and not be paid by the taxpayers, and that would be three big things that would stop police brood How almost I bet that would stop it overnight. So that's just, but that's what I would do it just just for that. Simple thing a police brutality. You want to end the riots you give people toothache, and I was a month and Medicare for or cancel this- do didn't given free called right now, and the Democrats should be right now- writing up that legislation and passing it in the house, because why? Because they have control of the house, and so they could pass that and then they could use that to run on, but that would mean that they were actually to parties in this country, and you would I don't deal and that there is an end. Nancy policy is just as complicit in the violence happening on our streets as Donald Trump is right now today and that's a fact: oh yeah yeah yeah, no question about that.
I think that the most constructive thing is to point to what you protest for, because the more less violent unless biology exist? protester, regardless of the. What other people do, including the police and the more Thirdly, there is a wide. I suggested there not just what the protest against what the demand are. And the more trend that more resident there is on the call for those demands on police reform, a newbie ion therefore all the more powerful they will become qualified immunity is illegal doctrine. The United States federal law that shields government officials from being sued for discretionary actions perform within their official capacity unless their actions violate clearly establish federal law constitute so it gives them immunity from being sued for abusing you
Whatever they want to do to you, ok, so let's, let's move onto this now this this we talked about contact, Tracy right before we talk about how to deal with that, you gotta have testing. As far as the corona virus you gotta have really available. Testing and e n and people are you. Gotta have contact tracing right deal in the union's budget to staff for human beings, but you know chasing algorithm known. factions. So here is the Minnesota Public Safety, commissioner, and our lot people raise concerns about contact racing because Libert civil Libertarians did because of their concerns, that they will now use this not just to trace the virus but they'll? if it over to the FBI and the CIA and whoever elsewhere to come mess with you ice or were whoever once they mess with you in the government or the IRS they're gonna. So. Here is Minnesota. Public safety mission or John Harrington, and he says that they bought,
really begun. Contractor contact, tracing arrest, ease here here it is. Let's watch so having radio. Who are these people what's happening right now in terms of you going up, they're gonna talk about that. that guy already bailed is. I got his eye guy, I'm not I met able to sell this bullshit anybody else, sort of step up. Ok, here we go. As we ve been gun, making arrests, we have begun analyzing, the data of wood, arrested and begun actually doing what you would think as almost very similar to our call it And police we ve been going through our arrests and police. the drag real hard not to orgasm through the process has arrested and cracking heads. It's kind of our think hard. Here we go its context, racing were they associated with what platforms are they advocating for We have seen things like like supremacy, or
ministers who have posted thing. So I don't know, but it is. This this- isn't what George Orwell warned us about I dont know what it is doing on platforms about coming to Minnesota. We are checking to see through the votes that we have, that we have in a restaurant and that we have information? Are they connected to those platforms we have seen flyers about protests were folks have talked about? they're gonna get their loot on tonight and where I can see. Are they part of what you could just check your browser history right? That's what you're going to do you contact them? Contact raised some checked your browser history, because the F B, I can do that now with the business growth. Fourth, amendment in America, where we go organised criminal organization and if so what Is there an organization and how is that? How is coming They organise, we have been warning, maybe it's Russia, maybe that organization is Russia, is governed by our state county, local and our federal partners.
Tuesday back looking at issues around, gives this organised crime. Is this and organise cell of terror, hey, if I say, organised organizations five more time, so you guys think I know what I'm talking about. Ok, where are those? Where did he smokes, whereas the link, gauges. What we're doing so. We are in the process right now of building that information network building that entail effort so that we can link these works together. Figure What we organisations that have created this island, understand how do we go after them? Legally absolutely and of fortune. Fortunately, we ve got a lot of wiggle room when it comes to legally going after these people leave. Part and parcel of our mission really are in fact public safety, and we recognise you are in fact public safety. I know that's credibly hard to believe hell or even surprised or are there are legal. Issues involved here. But we are
There are legal issues that are involved here where but we're planet they get to go out those little red tape out you going to tolerate the violence and the destruction hey remember when they infringe than our for civil rights back then for a little safety, and then they gave them back after the crisis was over me. Neither So Dylan, what do you make of this there now using fuckin contact racing to go after arrest? Is fine now what websites to go, not who there's associating with what nefarious groups they might be. What do you make of that I think it is an ongoing path of the degradation that isn't it the inevitable, the inevitable continuation of the path that we're on you know. I am. I just hold onto the hope that the social that the violence of the social crisis can wars, the shift that the basic
political system has failed to do it, they ve been others is as great american tragedy eyes has any this country has experienced. But honestly I and. Again, I gotta continue to come back to the whole good that from that dragon. Your actual shift, I should have been put forward. No eight or nine yeah they should have been more than a good point, all these political electoral intervals that that that that ship comes, As a result of the social upheaval I don't know that but maybe naive on my part, I think that essential to distinguish between the violence and the protests. Because the violence and alluding is
has tremendous damage to the currency of the protests, albeit while the of the expression about primal raid it is logical and I think it can be understood. Adams fuelled by the inside again economic and Jill abuse that you well documented them the only thing that comes from all that violence is more of it, as we all know, Ok, we're really, I want be moved, they need to change. The structure are out to say it, but I don't either
So, let's, let's get into here's a story, you sent me so let's go ahead and let's cover the story, so there's the Cares act that dump me displayed by the way that that there there is nothing that I can. I won't put pass the government right now, so we found out in my lifetime that- government lied us into a war in Iraq, knowingly, killed honey thousands of people for what for for profit for corporations, and then they ordered a torture programme, a literal torture programme to cover it up and everybody in Congress was complicit, meaning Nancy Policy and the Democrats, and then Barack Obama, didn't prosecute any those people nor any the criminal bankers, but he did kick five point one. The people are their house.
And he didn't take bahrwan off the schedule, one drug, so our prisons are still packed the gills, so actors, just nothing I'll, put pass the government right now. There's not there's nothing create too crazy that someone could pause it that the government is of nefarious shit. That they're up to that, I wouldn't agree gather up so this contact tracing it immediately. They use a too press you like George Orwell, immediately contact tracing is used to take over Your civil liberties, immediately Jews in the most disgusting, depraved way by the establishment and the police force immediately and no one in the media questions it. No one big the media is owned by the same people who wants that contact tracing the media is owned by the same people and serve the same people who want to keep prison labour so
that's. Why we're here and guess what Google is doing, everything they can to suppress us, Ray video we make about this crisis, is demonetized We video we make is suppressed, his de ranked ever video we make as demonetized, and that is, that is an overt way of them to try to suppress us in. just a if it gets any worse. I bedding won't be long before Google just outright ban these videos because they have no trouble banning stuff. They like it by the way they like banning stuff They like controlling the flow of information. That's what Google does? Seventy percent of the country, all of their news, information from Google or Facebook and their controlling people like me. Facebook is to delete what I put up. They get to put bogus fact x on their from guys. You are liars workin for the CIA, that this is the world were living in right now tat? This is all happened to me. This is something I making up
already happened, and so this contact tracing? Now you understand why people don't want to get a vaccine when the government tells them they got to have it now. You understand, My people are suspicious of the of the government. Can guess what the elite and the establishment had lost all legitimacy. They ve lost all the legitimacy build a blog. Ceo Nancy policy, Donald Trump: they ve lost all legitimacy. And the media you're why they attack CNN, because the oblique the CNN isn't oppressor there turn extension of this capital of states that been a president that has had their boot on the neck of every motherfuker in this country. Since one thousand nine hundred and eighty. That's, why CNN got attacked.
too bad MSNBC, ABC and CBS at the New York Times, all don't have headquarters right next to each other and so now we're. Gonna have a less healthy society, because people are gonna, wanna, be contact raced and we're never gonna be a fuckin fixed as virus, because cock sucking oligarchs are fascists. We, our government, is now fascists We ve gone from rapacious oligarchy used to fucking fascists Now we're not gonna be able to fix this virus because goddamn a quarter the country will get the havoc but vaccine. What its available, because of what the goddamn cops are doing right now,. Google Buzz. I want you to hear me say this: the most powerful fuckin company in the world doesn't want you to hear me say this. So obvious
until they shot me down. what'd, you stood out. What are we supposed to do? Dealing with contract racing another there immediately using it for nefarious purposes, are being again. We have to direct our attention to the things that we want and to the thing, that we want to create an those things are you, I better care for all prison reform least reform I dont know that our power to stop never ending less of degradations will be. Gagnon Tilbury momentum to create that which we want, and I think that the opportunity, the organizing opportunity. With these
protests. Now we're deluding it now the rights which are very out a barrage of ultimately just really bad bad, but those projects are you aware of our are an opportunity for grace or an otherwise troubled troubled nation, with a with a really good degrading corporate employer, who culture? I would look- I mean I am I'm not trying to no preacher mandatory Jerry, but were now or in the dark, dark par of the saw here and extreme. The more dangerous place that exists in this world where murder lives and everything else of course, swirling around us and MA
there must be grace, and there must be grace that comes through a true shift. Otherwise, it gets worse, I know for sure my eyes. I know there is one bright spot. There's there's been judgment. I've heard talk that for veterans for peace, tweeted out that we are hearing from people who are refusing orders so asked trot. is ordering the military to occupy our own country, exactly shit. We did to Iraq exactly what Did Afghanistan exactly what we did live exactly what we're trying to do. Oliver goddamn world, we're doing now to ourselves and now veterans for Pieces tweeting out that their hearing that peace and so what Colin Powell telling people in the military you it's your duty to two DIS disobey in
constitutional order, whereas what so any Why, then, do we really have? No leaders in America is what capitalism does its able? to buy off your leaders and it's a Will the buy off even your civic organisations. There are created specifically to, fight against government oppression. The government comes and gives the money and buys them off so that the one bright spot veterans for peace were hearing from people and then I saw Ghak. I saw a tweet today, every cop who quit cause won't do that, but believe me that that there will be many cops quitting, because the cops who would quit over this already have years ago. That's the thing so the car, so we ve talked about that. It's not good cops. Bad cops are a few bad apples are its. complete culture of Kabbah, policing in America, and you either come to that culture of brutality and lawlessness or you leave or they kill you like, like they try to do at super serpent.
that has changed from Sir because time there, the movie go watch it. It's called Serpico. Sorry, output, GINO well that guy still alive they shot him in the face. And he wrote an article twenty. Sixteen it's in political. It says policing worse now there when he got shot in the face by his own cops. So if there's a good cop, they they can or they will you we'd amount or they quit. So don't look for crops to be quick, but you can look for the military people do not answer this bullshit call. So that's my fingers crossed on that. Now, let's move under the story. This was tweeted out by Jeff Hauser and he says a hugely important story from pro publicly the treasure. three as overseas during the Federal Reserve via an official just didn't music, who is a walking and talking conflict of interests, not Dylan, explain to people this has to do with when they passed the Cares act and they gave the
five hundred billion, that they could give rise to big business, but then there's a multiplier on that, meaning that the FED can now bumping up ten times which brings. up to five trillion dollars which the FED gives to the richest people the person overseeing that transfer of wealth. Is a guy named just didn't you cynic and he's a walking talking, conflict of interests so go ahead. Tell us what the com eventually. I me I said that you Jimmy. Did you give your window? It? Certainly not, because these institutions are so big and bigger. The dollar values are so big and because the fundamental impact on society is so large. You like to think that there are these sort of large groups, We are highly visible, transparent, transparent organizations and processes that are allocating these resources. Write em, This is just a really, I think, insightful anecdote
to illustrate how much that's not the case where a jack egos Italy's courting get a proper reporting on huge per se, Roger that work over all those decisions. get the money where the money goes and all the things is reduced, with a single individual who is really Would you got me figure out how busy your day is, whoever you baby? and then now a single individual but is a single individual. Who is right with carbon? Deborah interest. I mean it dad. Arta you're gonna get the ongoing degradation. I mean it is you. It is tragic, honestly if a deadly weapon, American tragedy cylinder another little piece of it. So we just go over real quick. This is from probe public cuts. Is this treasury? Visual is running the bailout. It's been great for his family Deputy Secretary Treasury secretary. Just didn't you cynic hesitant
recently prominent role. He still has time to his family's investment firm, which is a major beneficiary of the treasuries bail out actions. Ok, so Federal Reserve, German Jerome Powell and Treasury Secretary, Steve managing have become the public faces of the three trees in federal corona virus bail out behind this since, however, the treasuries responsibilities here fallen largely to the forty two year old deputy secretary. Just a new cynic major beneficiary of that bail out so far guess who music again company, the asset managers founded by his father, we're just and served as president before joining the administration he reported, Billy owns a stake worth at least sixty million dollars when he ended government and twenty twelve, but he gave that his all his share he gave it to his father for nothing. So that's posted take away a conflict of interests.
Today, Lucinda retains financial ties to the firm through a an opaque trance action in which he transferred to shares two of his privately company to his father S, exact, spurred say? The arrangement is troubling because his father, save the cheers for no money up, and it appears possible that me cynical. simply get estate back after Lee. In government be cynical, come he has long specialised in precisely this market, so the market that The money that he's overseeing is the more get that he's been working in his father's company? His company, his whole life heeds managing? Probably not. Money. This guy's hedge funds he's manager, Thirty eight billion dollars of clients money, including a riskier instrument known as junk or
high yield bonds we're junk bonds. Dylan junk files are just quit legal abounded alone right, it's just another form of allowed as oppose it. So I read with great bond: is the body that has good collateral that your somebody alone somebody's likely to pay back and bond is alone with no with little or no collateral that somebody is less likely to pay back that used for riskier ventures and pay the higher interest rate. So it's cut it's kind of like the business version of a sub prime mortgage. We have to pay more in exactly because you, the low gave a lower credit score. Is you have to pay more and I actually and that's what a junk bought it, but the boy, makes more money. If you pay and they know a certain amount of people are gonna default on the job, but does not pay will pay at that they'll make money cause. That's! Ok, ok! So that's what a junk bodies since the FED and the treasure! actions in late March. The bond market has roared back me cynical cup.
has reversed billions in losses, according to a review of its holdings with twenty eight of the twenty nine funds track by the investor research service, Morningstar Direct rising in that period. So here we are, with the guy who's tapped by trumpet music to oversee the disbursement of trillions of dollars and the market that This money is aimed at is the market this guy's businesses involved in an haze. His company was hemorrhage billions in losses and now that he's in charge the money, his companies making billions in profits. So it's it's kind of via this is the This is like a banana republic. This is the kind of shit people pretend Putin does and we don't have any any fight so that that that day,
and this is more reason why we have violence in the streets, its. We have a complete, corrupted government that does not represent you. In fact, they work against you. It's it's It's it's incomprehensible right. It's like its work. That theory, aiding I mean it is it- is infuriating beyond words, added a seat in the street and city uttered and forty six riots and uttered and forty American Citys unprecedented social unrest, so ok and you have anything to say anything else to say about that kind of a remedy. So so that will never be cool. directed, that'll, never be relieved and investigated. That'll, certainly never be prosecuted they're. Just did I mean It was set up, so he could do this turn to two just flute, loot, the
American Treasury and funnel it to their connected friends. Right. Absolutely I mean you know, it is surely die exclusively to the benefit of his business, but it surely directly to the benefit of his business because it directly seeking to benefit the entire budget for that entire marketplace, where his business people right, so did indeed, wherever the bank's take over a country's, it seems their country's headed down fast. What? How can we take the country back from the banks, and I mean it's a: U K the same way mean fuck you're. It's the same. Between the whole idea of the Euro and then what they did degrees. That's all rapacious bankers, the end for it's weird because they think they just we'll play the long game ever there always playing the short game which again is is destructive, so
they will ever be able, and how can we take? Our country back from the banks are gathered, all structural Eric what you give a good that very pre requisite, for that is legislation that simply limits the size of any get back right. So sorry, as soon as you pap bag size and as soon as you ship the risk incentive for the bank to create value as opposed to extract value, which is a different conversation for a different able. What do you make a smaller bag?
an empty words, but to make money by helping other people make money right. You which can be done, has been done in the brief periods of time, indifferent financial ecosystems, whether the Basle partnerships or community landing or these types of things. So it really just about shifting the structure for two or more decentralized and community line architecture, not as about a policy but is a magic matter of actual seeking returns right, so what you're saying right now the weight banks bit that really work, they try to create debt, they don't try to create investments. They try to create debt so that they can make derivatives off if they can sell bedside at you can sell short, you could sell insurance on it and you can sell bets on that occur so its third, not really, creed, getting anything except financial instruments to make money
of their not investing in businesses around investing in communities there, not right so that that's the big problem right. That's right, ok, but exactly right and in their currencies that are involved of course, the big banks have control of our legislature, so when you community banks who actually do do those things that we want them to do that banks do the big banks can crush them, and absorb them, and that have but there's a lot of that happened. The last financial crisis. Do you see any that happening now and I haven't may cause it up? Adventured I mean the stranglehold of the large financial institutions have at this point. It so well established that the sort of it it is. It is like subways, let's disruptive, because its now so large and absolute
all right. What are you reading its reason? No new, better reported this country, a big new business, one nation that an all time low all these boats fundamentals are of vital signs for creativity and opportunity in a coffee which are really shown by things like the rate of new business formation.
Didn't staggeringly low condition for a very long time now and part of the reason for that is because there is not an incentive for the feeding and creation of a new enterprises in inside of it. Is there that the world or the financial universe and those new business for maintenance or where so many of the new jobs and jobs are created a year? Politicians say: oh small businesses are the heart of job creation in America, which is actually a lie it that new business is, I think we ve got. This covers against new business in order to create a most visited tend to be small, so Ricky producers is forbidden, is small about working capital and high level to engagement from the community to help the principles who are trying to format. Is this agreed psoric? Are you if you have small amounts of money and lots of expertise and attention give a higher probability of creating more
faster right now? There is very little doubt that expertise at attention available to most people and even less money. You alright well Dylan, ran again, it's been a real wheels pleasure fun times in a true, that's not even true of the false statements Plaza I regard you drink false David. I don't get a coffee shop. They now almost only, but what I did feel exhausted now all the time because of what's happening. I don't you know you don't know Will I get say after the show I dont like unplug, then go watch
vehicle play basketball, go, do a comedy, show or go it's just it's just still its constant, I'm watching the violence, constant, constant, constant it just in any area because they were so basically if even more frustrating when in a week, this was something that we predicted Annabelle miles away miles miles yeah, that's it that's what makes it so frustrating in fact, and in every area every turn the people were supposed to be. So ending up art. The it's there. That's just great. happening is just amazing and I, that the opportunity now is for grace and clear demands, so do where we are- and I know you're, not a doctor- I'm not a doktor either I'm not even a virologist bud. I've gotta go ahead and make a prediction that there will be a corona virus spike in America in two weeks. You would think the right would be more growth of our children.
You would think one person if they could probably going in fact, ten people, while self Tito just really need a couple of people and its good it's all over. So anyway, I bring clear demand, Jamie Grave and clear demand, green, everywhere. We grace
Clear demands, money. We wanted mother blow money, man, a man- and you don't know you about IRAN and when a man on the right
Transcript generated on 2020-12-24.