Playing to Win - PTW # 96 - George Gammon @RebelCapitalistChannel @GeorgeGammon

00:00:00.880 all right we're live for the 96th installment of playing to win back with my friend george

00:00:06.400 gammon how you doing george i'm doing awesome rich thanks for having me back it's been a while

00:00:11.200 i like to talk to you publicly at least once or twice a year about what's going on in the world

00:00:15.760 from your angle because i have a hard time keeping up on all your content on your channel and so many

00:00:20.000 things are going on developing and changing and you've got some really good and some interesting

00:00:24.400 takes on uh economics different levels of economics what's going on with uh the markets and uh

00:00:31.600 even stuff outside of that man like you're a car guy too we were talking before we went live about

00:00:35.200 this road trip that you're going to do sort of working with is it is it with crypto only down

00:00:39.680 through south america no we're going to try to use bitcoin gold silver and if we have to cash but the

00:00:47.520 whole thing is called a cbdc road trip to freedom challenge yeah let's start with that let's talk

00:00:53.120 about that yeah the reason i'm doing it is because i believe that the question of cbdc's

00:01:00.480 is a matter of when not if yeah in fact just yesterday i saw an article on reuters talking

00:01:06.320 about how swift uh the the payment mechanism is coming out with a platform for central bank

00:01:12.880 digital currencies within the next 12 to 24 months so this is something you know what's funny rich is

00:01:19.600 when i first started talking about this back in 2019 when i started my channel everybody was

00:01:23.840 calling me a tinfoil hatter they're calling me doom and gloom oh you don't know what you're talking

00:01:29.200 about okay alex jones whatever a central bank digital currency okay and now all of a sudden

00:01:36.640 based on that reuters article 90 of central banks are in the process of building a cbdc

00:01:46.240 so this is a problem on a lot of different levels is this a bank issued problem or is this a federal

00:01:53.360 government issued problem that we're sort of well as far as from a standpoint of the citizen the real

00:01:59.120 problem is it's centralizing the ledger and therefore they're going to have the ability to see in real

00:02:06.560 time and therefore control your transactions and then that leads to what i would call a social score

00:02:13.600 yeah and this is where you know it goes into complete big brother and 1984 orwell

00:02:20.720 yeah so programmable money is very easy to um i guess create program distribute on a blockchain ledger

00:02:29.360 you can you don't have to mail it there's no checks there's no deposit in a bank account

00:02:33.120 you can just be added to somebody's digital wallet and they could be forced to spend the money within

00:02:38.560 a certain time frame they can be restricted on what they can spend the money on uh their ability

00:02:44.320 to access it could be restricted dependent i mean you know if we ended up in a dystopian sort of space

00:02:49.040 where it's like carbon credits are a thing and you've driven your diesel dually truck too far in the last

00:02:54.640 few uh or your mclaren yeah or your mclaren your porsche we're having to be you know driving um you

00:03:00.800 know we're going to restrict your access to uh i don't know maybe meat protein and here's a bag of

00:03:05.040 crickets when you check out at the grocery uh counter so it goes well beyond just you know the

00:03:10.240 basic uh orwellian stuff like there's a deep rabbit hole here isn't it it's a pretty slippery slope yeah

00:03:16.480 and they can also control the extension of credit so functionally what the way you just described it

00:03:22.160 is accurate mechanically it's a little bit different because the uh the one ledger the

00:03:26.960 consolidation of the ledger would in my view be the federal reserves balance sheet because it's infinite

00:03:33.520 and then when we get into credit or the extension of credit they can give anyone any interest rate

00:03:38.800 they want and they can give anyone a loan and they don't have to worry about being paid back because

00:03:44.000 they can't go bust so right now i don't know who you bank with but let's say your viewers bank with

00:03:50.800 wells fargo in the united states or bank of america well your dollars that you would consider your asset

00:03:58.720 whether it's in a checking account or savings account is a liability of that bank so what would

00:04:04.640 happen in a cbdc world those dollar liabilities would go from the bank's balance sheet over to the

00:04:11.920 federal reserve and then since they cannot go bust they can go ahead and give xyz disadvantage group

00:04:22.240 home loans at zero percent interest rates or negative interest rates and if you're a straight white 0.83

00:04:28.720 male like rich cooper and if you've been successful in life because of your you know white male privilege

00:04:35.200 then you're not going to get a loan and if you do get a loan it's going to be at a 20 or 25 percent

00:04:40.080 interest rate because that's the only way that we can equal the playing field between you and this

00:04:45.280 disadvantaged group that uh hasn't had the same we'll call them opportunities that you have and so

00:04:52.400 this is where it gets really crazy as far as individual monetary policy and then to your earlier

00:04:58.640 point if you're doing something they don't like they can go ahead and put a cap on that or if you're

00:05:05.120 not spending money fast enough they can go ahead and have like a negative interest rate to where you

00:05:10.800 have to spend that money or you start to lose the perching perching excuse me the the nominal

00:05:16.240 purchasing power or uh you just at the end of the month it just gets cut in half so you got to spend

00:05:23.680 it now or lose it and uh this is the the type of world that i think we're going into you got to ask

00:05:31.760 yourself why wouldn't they do this yeah it makes sense like you have to assume that the more we

00:05:38.320 centralized government the more power the central planners have the more it's going to attract

00:05:46.560 people who have an insatiable lust for power in other words the more it's going to attract sociopaths

00:05:54.000 now even if you like the guy or gal in charge right now that's not the point at some at some time in

00:06:00.480 the future as long as we continue to consolidate power then you're going to get a megalomaniac a

00:06:06.560 stalin type or a mao or you know other people that i can't mention to keep it youtube friendly

00:06:12.320 you're going to get one of those people in charge and then what they're going to do is they're going

00:06:15.680 to leverage the system that has been created for them in order to control your life and this is just

00:06:22.560 the reality of the situation that's why the only solution for this is smaller government it's not just

00:06:28.160 changing the views of the politicians and the government we have right now so unfortunately

00:06:35.440 i've got some good news and bad news the bad news is for most people this is unavoidable you're going

00:06:42.400 to have to operate within this system because that's the only way that you're going to be able to hold

00:06:47.840 have a bank account or at least a bank account it's going to be compatible with you getting a paycheck

00:06:52.720 or you paying rent or you paying your kids tuition or buying health insurance something like that

00:07:01.760 the good news is i think we're going to be able to initially have a hybrid system where things like

00:07:08.880 bitcoin gold silver allow you to check out of the system and buy some of those things that could

00:07:16.880 negatively impact your social score and that's what this cbdc road trip to freedom challenge

00:07:23.280 is all about i'm going from santiago chile driving to buenos aires uh to meet my good friend doug

00:07:30.480 casey for this trip this challenge i'm sorry what's the distance how many miles i don't know it's going

00:07:37.760 to take us about a week that's all i know okay you're talking a few thousand then oh yeah yeah

00:07:43.040 it's like if we were to drive straight through it's like 20 hours so so food gas accommodation

00:07:49.360 you're paying for with gold silver or bitcoin only we're going to try and i think what's going to

00:07:54.640 happen is what happens if they don't take it yeah we're then we go down to the local goldsmith

00:07:59.760 or the goldsmith the local gold dealer or pawn shop and we say look we've got you know a tenth of

00:08:06.080 an ounce of gold here how much will you give us and then we take the cash the hard currency and then we

00:08:12.320 go to the gas station and fill up now if we can we're going to first and foremost use the gold

00:08:19.600 silver or bitcoin but i i'm i'm trying to be optimistic but i want to be a realist at the same

00:08:26.960 time and i have my doubts that we're going to be going through these certain cities in argentina

00:08:32.640 and we're going to be able to find a hotel that takes uh bitcoin gold or silver so that's kind of the

00:08:38.720 game plan and the reason i'm doing this rich is to show people what it would take to operate and

00:08:47.040 transact outside of the system so people can start to prepare for that now they can they can understand

00:08:53.840 the realities of the situation they can sit back and say okay what do i buy monthly i buy x amount of gas

00:09:01.280 i buy x amount of beef i buy x amount of whiskey whatever it is x amount of bullets x amount of guns

00:09:08.400 and i know that this is most likely going to negatively impact my social score which in the

00:09:13.600 real world you know people say oh well they can pound sand okay but that social score i think moving

00:09:19.040 forward is going to replace a credit score so if you want to get a house if you want to provide for

00:09:25.600 your family if you want if you need credit for your business then you're going to have to play by

00:09:31.760 these rules right or you can go live like the amish and that's fine and i think that would be respectable 1.00

00:09:37.440 but you have to understand that that's going to be lowering your standard of living substantially so

00:09:42.880 you have this hybrid model where i think people are going to earn money within the system they

00:09:48.000 hopefully take their savings at the end of the month and then they transfer that into something

00:09:52.960 that is outside of the system and then they transact as much as possible outside of the system keep a

00:10:00.400 lot of their savings outside of the system and that's how we buy time in order for this alternative

00:10:07.200 ecosystem to really grow and and get to a point where we can start increasing the percentage of our

00:10:16.560 expenses that are paid for in whatever we want something that's outside of just government

00:10:22.880 fiat so um what's the vehicle of choice for this road trip oh well here's the problem with that

00:10:32.640 initially i i wanted to go from medellin all the way down to buenos aires and stop and take the

00:10:40.160 pan-american highway yeah that's when i caught wind of it i thought it was an entire south american trip

00:10:44.800 yeah i was super stoked about it unfortunately they've got a lot of problems right now in ecuador

00:10:50.240 okay and as far as violence and just it's not a place where you want to be okay so i tried to

00:10:56.720 figure out a way around and it just logistically it's it's basically impossible so then i was going

00:11:02.960 to buy a car and i was going to have it transported back but once we talked to the companies we found

00:11:08.880 that taking it across borders is very difficult if not impossible and you know it might take a year

00:11:14.720 or something like that to get the car and it's cost prohibitive so the conclusion we came to is okay

00:11:20.560 we got to rent a car and the good thing about chile is since it borders argentina the rental car companies 0.81

00:11:27.760 actually allow you to take it across the border and back so bottom line we had hoped to get a really

00:11:33.360 super cool car that would uh be kind of like a excuse me like an off-road type vehicle uh that you'd see

00:11:41.920 what what do they the they call them nowadays they're very trendy overlanders there you go overlanders uh

00:11:48.480 that's what i was hoping for but unfortunately we're gonna have to settle for like a a hondae santa fe

00:11:55.840 or right or something like that are you going to be able to rent the car with uh gold bitcoin or silver

00:12:03.520 no no there's no way so we're going to get there in fact this sunday failed the test before you even

00:12:08.240 began it yeah well you got to cut me some slack here uh it was important richard the concept so

00:12:14.400 it's after you get the keys and it's go yeah it's actually monday morning so we get there sunday this

00:12:19.920 sunday march 31st and josh my assistants uh we're going to get the car we're going to get a

00:12:28.480 hotel and then monday morning that's when we hit the ground running okay are you going to keep any

00:12:33.840 cash reserves on you or or it's strictly silver gold bitcoin you go to a gas station you approach the

00:12:40.160 attendant hey i need to fill up uh i have gold silver or bitcoin you don't take that then you find a

00:12:48.080 pawn shop and then you go deal with it from there yeah or i think another and another main takeaway

00:12:54.080 that i think we'll find from this trip is although i love gold and silver for for this type of thing

00:12:59.360 bitcoin is vastly superior and so yeah it's easier to write it for sure yeah the problem right now with

00:13:07.280 bitcoin is the volatility and we can get into that later because i think the mechanics behind pretty

00:13:12.480 much all asset classes right now except for treasuries is going to lead to more and more

00:13:18.560 volatility i call it a volatility super cycle but anyway getting back to that there's a lot of bitcoin

00:13:24.880 cafes that i pulled up on the map that are on our route so that's going to be probably the first

00:13:32.160 thing we'll try if we need actual hard currency is going to a bitcoin cafe then just do a peer-to-peer

00:13:37.920 transaction right okay interesting are you guys going to film this is going to turn this into a

00:13:42.960 vlog or oh yeah hell yeah absolutely yeah we're going to be live streaming like pretty much everything

00:13:49.280 and then we're going to take the footage or yeah on the on the rebel capitals channel on youtube

00:13:53.520 all right interesting okay so we actually have a caravan so i put it out there and i told anyone

00:13:59.120 that follows me on twitter or my youtube channel that if they want they could join us

00:14:04.080 us so i i said if you want to join us just dm my assistant josh and uh not that you can ride in

00:14:11.120 the car with us a lot of luggage but you can follow us for the whole trip or you can follow us and be

00:14:17.920 a part of it just for maybe one leg of the trip or i know a lot of people are going to meet us in

00:14:23.680 buenos aires when we actually meet up with doug casey who in this trip represents freedom and uh

00:14:29.840 uh so i i don't know how it's going to turn out we had a lot of people dm josh so we could have

00:14:35.680 like a caravan of 10 20 30 cars uh going down the highway making this trip speaking of argentina what

00:14:44.320 do you think of the new president there i think he's great i mean philosophically i'm i'm right in

00:14:49.600 line he's got an uphill battle obviously what about that press piece that was out on twitter the other

00:14:54.640 day where they were talking about him authorizing funds for uh like the transformer rainbow crowd

00:15:00.640 yeah look no one's perfect and uh i'm not going to be completely in line with with any political

00:15:07.440 candidate uh do i think he's better than everyone else yeah uh do i think that he's a panacea

00:15:14.640 or perfect absolutely not but a lot of that i would have to look into the details because even if

00:15:21.520 he's approving that you know a lot of times that can be in a bill or the overall bill is uh on net

00:15:27.600 balance as a positive and he just has to include that just to appease the other politicians i'm not

00:15:33.120 saying that's what's happening i'm just saying that could be so i'd want to look into the details there

00:15:37.440 further yeah i'm i'm hopeful that he's going to do and behave as he held out to the public before he

00:15:45.200 was elected but that that was a bit of a disappointment if i'm being honest when i read that i don't know what

00:15:50.480 you know what the context was around it but it might have been money that was promised prior to

00:15:54.720 him being uh you know put into power that he couldn't uh you know detour somewhere else we'll

00:16:01.280 see what happens but yeah i'd love to hear your thoughts on you know your travels through argentina

00:16:05.120 when you sort of uh get through there and what it's really like these days yeah another thing that

00:16:09.600 i'm going to be focusing on is argentina for a plan b and i think everybody should be thinking

00:16:16.560 about that right now that's prior to hitting the record button or going live you and i were talking

00:16:21.520 about some of the groups that i've met with over the past uh couple weeks all around the world that

00:16:27.760 are really trying to figure out how we not only maintain but increase the level of freedom and personal

00:16:37.360 liberty that we have in the world today and one of the conclusions that everybody was talking about

00:16:45.280 one of the main takeaways that you're i think can be some actionable advice for your audience

00:16:50.960 is you have to have a line in the sand you and that has to be premeditated because at the end of

00:16:57.200 the day we're all emotional creatures and i mean 2020 is a perfect example where you know all the

00:17:06.320 government locked us in a cage for heaven's sakes and a lot of people said well it's okay they make

00:17:12.240 excuses for it and they rationalize as to why that's okay but if you have a specific line in

00:17:17.680 the sand this is premeditated then you have a game plan that you're going to execute you take the emoji

00:17:24.320 the emotion outside of the decision making process so as an example my line in the sand back in 2021

00:17:32.640 were the mandates we'll just call them the the medicine mandates just to keep it

00:17:37.040 youtube friendly here so once the the government crossed that line i'm out i'm done i'm done i didn't

00:17:45.760 need to think about it it's just bam you take action and i think regardless of whether you're in crypto

00:17:52.240 whether you're in gold or or silver or whatever it is and you're sitting there patting yourself on the

00:17:56.880 back you're saying well i can sleep well at night knowing that i have no counterparty risk

00:18:02.000 well actually you do you still do have a lot of political risk because i don't care how much bitcoin

00:18:08.480 you have the government can come in and just take your passport right and so you need to start thinking

00:18:13.840 about these things and the great thing about a plan b is there's absolutely no downside to having one

00:18:21.680 because if you never need it well fine uh now you've just got a bank account another country you might

00:18:27.520 have a another passport you might have another residency uh and you've got maybe some real

00:18:32.640 estate you got a great place to vacation whatever it is uh but if you do have to use it and if the

00:18:39.840 government does cross that line then bam you're not going to have to sacrifice your freedom or the freedom

00:18:46.960 of those people around you that you love yeah they didn't take anybody's passport during that time

00:18:51.680 but they certainly restricted your movement because of certain you know that they wanted you to take

00:18:57.920 to hop on a flight um yeah look what they did to the truckers in canada yeah i mean you got my goodness

00:19:04.240 gracious sorry you've got multiple passports almost uh i've had a investor visa in columbia

00:19:12.720 for almost uh i'm about two months shy of five years and once we hit the five-year mark then i'm eligible

00:19:19.840 for my colombian passport so i'll have both the colombian passport and the u.s passport

00:19:26.320 and then of course i've had residency here uh for the last five years or so where are you right now

00:19:33.680 in medellin yeah i've i've got a lot of people lately um that have been visiting building acquiring

00:19:43.360 rental properties airbnb type of uh properties acquiring multiple passports over the last few years

00:19:49.840 uh columbia is certainly one of the hot spots in south america so why is columbia popular versus

00:19:56.480 other south american countries right now

00:20:02.960 uh well if i'm being honest rich it's probably the women it's it's everything you read online 0.98

00:20:10.800 uh about columbian women is true i i i can verify that and so as far as femininity attractiveness 0.99

00:20:20.960 stuff like that there's still women though right like they're not like there's no women there that 0.55

00:20:25.520 are not hypergamous there's no women there that are not solipsistic you know for example absolutely

00:20:29.920 correct yeah absolutely so if you read you know rolo or watch your stuff all the hard wiring that you

00:20:37.600 guys talk about the firmware is definitely applicable it's going to be applicable everywhere because it's

00:20:42.400 just basic evolution it's human psychology so you're not going to get around that um but as far as

00:20:48.960 let's say the the way the gals present themselves uh the the the way they look the uh the curviness if 1.00

00:20:59.120 you will i forgot a way to say that a politically correct way lips hips and it's there you go there 1.00

00:21:08.480 you go there you go uh yeah you're gonna have as much as you can handle uh if not more coming down

00:21:14.880 especially here you don't get that in argentina chile brazil so you you might i i haven't been

00:21:21.680 there but i'll definitely let you know when i go i'll dm you uh i'll text you rich and let you know

00:21:26.720 how the gals are down in argentina but i would be very surprised because they have a much different 0.97

00:21:33.120 culture down there right and i think a lot of the culture here in especially medellin was a or is a result

00:21:41.840 of kind of the narcos and i so that that's still ingrained in in the the psyche here uh with the

00:21:52.080 men and the women and i think that's one of the reasons why they you see some of the shapes down

00:21:59.840 here that you might not see in the united states or in argentina let me um let me show the super

00:22:07.520 chat out because it kind of relates to the cbdc's you're just talking about should we expect

00:22:11.600 a manufacturer crisis to shoehorn cbdc as a trojan horse as liquidity freezes up and they present free

00:22:19.200 money as a solution what percentage of your net worth you have gammon and crypto precious metals cash

00:22:27.200 yeah so this is a great question and

00:22:30.480 i think what we have to understand is this is all an unknown and there's going to be cross currents

00:22:39.440 that are at play constantly so when he's talking about liquidity i mean i could argue how there would

00:22:45.760 be more liquidity just because now everything's on the fed's balance sheet and you would have the

00:22:51.280 repo market as an example that could be exclusively on the fed's balance sheet you could argue how that

00:22:56.400 would increase liquidity and you could also argue how that would decrease liquidity because right now

00:23:03.040 that service if you will or that market is really controlled by the euro dollar system in other words

00:23:10.400 the free market uh so the the bottom line here is as they move toward this system they're going to break a

00:23:19.920 lot of eggs and there's going to be huge opportunities that's for sure because the bigger the crisis the

00:23:26.800 bigger the opportunity but the world is going to change uh the monetary system is going to change

00:23:34.080 and i i don't know how centralizing the monetary system will make it more efficient unfortunately on

00:23:42.960 net balance even when you take away the big brother stuff and the 1984 stuff i think it's going to be

00:23:49.120 a negative although although i must be fair a cbdc will have a lot of features that the average joe

00:23:57.040 and jane will love and this is one of the reasons why i think it'll have such a high adoption rate

00:24:03.360 even if it was voluntary because number one your bank can't go bust and what we've seen with silicon

00:24:08.560 valley bank first republic signature credit suisse new york community bank a lot of these entities

00:24:15.600 that are holding your dollars or the your dollars are a liability of these entities can go bust so i

00:24:20.720 think the pitch is going to be why not move them to the one balance sheet that can't go bust that

00:24:24.320 would be the federal reserve and they'll be able to pay you a much higher interest rate rich i don't

00:24:28.560 know what you're getting right now in your checking account or your savings but i would be shocked if it

00:24:32.640 was over maybe two or three percent so why not get the exact same interest rate that the federal reserve

00:24:38.320 is paying jamie diamond and that's interest on reserves is what they call it and without getting

00:24:44.000 technical it's basically jp morgan's checking account held at the fed and they're getting 5.25

00:24:50.960 so how many of your viewers right now are getting 5.25 on their checking account probably very few

00:24:56.720 so that's going to be another feature you're going to be able to settle transactions instantly you're

00:25:01.520 probably going to be able to exchange dollars for pesos or whatever it is mexican pesos or canadian

00:25:06.480 dollars probably free because that's just absorbed by the fed's balance sheet so this is what we have

00:25:13.360 to look out for and you know a lot of people don't like to acknowledge the fact that they're going to

00:25:17.920 have these features with the cbdc but to me that's like going in and fighting john jones and not doing

00:25:23.920 any homework you have to acknowledge his strengths and then you also have to be realistic about those

00:25:31.360 strengths and the weaknesses and that's the only way that you're going to have any chance of not

00:25:38.240 just defeating john jones but in that case probably surviving right and it's the exact same thing we're

00:25:44.400 up against goliath we have to realize that and so we've got to take it seriously we need to understand

00:25:50.240 that most of the normies out there will gravitate toward a cbdc like a a moth to a flame because

00:25:57.360 they're 90 the argument there will for sure yeah the argument is that people once people get a social

00:26:02.080 score or once they call it a cbdc the the public is going to kind of retract from that and they're

00:26:10.160 not going to call it a cbdc rich there's why would they do that be to suck them in is it going to be

00:26:14.400 like sign up now and get a 50 free or something like that yeah they're going to be like look your

00:26:19.600 bank's going bust or there's a probability of the bank going bust because i think we're only in

00:26:23.840 ending four or five of this banking crisis so once we're in ending nine if we have like a gfc type

00:26:29.360 of deal they're going to say hey do you really want to risk having your money and a bank that can go

00:26:34.000 bust why not just take it over to the fed you get five point two five percent plus we'll throw in some

00:26:39.760 ubi or what you know to your point we'll throw in some quote-unquote free money and then you get all

00:26:45.760 these features and people are going to use it it's going to be a no-brainer and then they're hooked on the

00:26:51.280 network and to help understand how powerful a network is or the network effect i always use

00:26:59.120 the example of a cell phone right so i'm sure every single one of your viewers right now they have

00:27:05.120 an iphone or some sort of smartphone and they're on instagram they're on youtube or whatever

00:27:11.760 or the internet for that matter okay just let's assume that tomorrow everything that you do using

00:27:18.720 your phone will be used to create a social score and that will be used against you would you continue

00:27:26.320 to use your phone yes or no so i i guarantee you that 99.9 of the people are going to say yes if

00:27:32.800 they're honest with themselves if they're honest yeah that that's the power of a network and that's

00:27:37.600 what we're up against well now i want to this though but like facebook's been collecting data on people

00:27:42.640 for years and they still freely give away their information on it yeah i mean to a certain degree

00:27:48.640 we all do i mean you and i are on on youtube i mean we try to limit it to the best of our ability

00:27:55.280 but at the end of the day uh you reach people yeah exactly exactly and that's it's ironic isn't it that

00:28:02.160 the way that you impact or affect change is by playing their by playing their rules or playing their game

00:28:10.800 if you will to the um guys last point of the question what's a percentage of your net worth is

00:28:15.920 in uh metals cash crypto yeah so i have a couple different portfolios and that's just a very recent

00:28:23.840 thing usually i've just had a long-term portfolio and i set it up in a way that i call 10 80 10 so 10

00:28:30.400 would be insurance for me that's physical gold i don't care what the price is doing it's just

00:28:35.280 i'm not owning it to get rich i'm just owning it for that insurance policy then 80 of it would be

00:28:43.680 investments and i like things that pay me to own them so as an example i bought a lot of commodity

00:28:48.560 producers back in march of 2020 and then you just collect that dividend until the price of oil gets

00:28:54.240 high and then maybe you sell it rotate into something else when i first got into investing when

00:28:59.040 i retired in 2012 i went into real estate as a good time to do that and i went in not necessarily

00:29:06.640 because i thought the prices were going to rebound or go back up to where they were today i never could

00:29:11.760 have dreamed that but at the time the cash flow was a very good deal relative to what else was out there

00:29:18.480 the cash flow is very cheap so that would be an example then the other 10 would be speculative assets

00:29:24.480 so for me something like gold miners something like uranium something like bitcoin would fall into

00:29:32.160 that category now i know a lot of your uh your viewers are gonna say oh bitcoin's not speculative

00:29:37.760 asset blah blah it's a long-term investor yeah that's fine but right now it's still in the speculative

00:29:42.400 phase i mean you've got something that's moving 10 percent up or down every hour uh that that that is a

00:29:51.360 speculative asset uh especially in the short term and i hope it does great i hope they're able to

00:29:57.520 build out this ecosystem that allows us to transact as much as possible away from the government and the

00:30:05.440 central planners and the authoritarians uh but right now we're just not yet at that stage so that's

00:30:12.240 kind of how i like to set up the portfolio the new portfolio that i have is much more uh much more

00:30:19.280 trading focused and much more short term where it's not about just setting up a 10-year portfolio

00:30:25.920 and then just not paying attention to it it's more so you know how am i making money month by month

00:30:33.360 um you mentioned instagram earlier i think you got the platform from it recently was it yeah i could

00:30:39.840 not believe that well i've been kicked off youtube and then i've i was i've been kicked off uh twitter

00:30:46.880 although that was from people just hacking into my account yeah and then twitter just not caring

00:30:52.880 about it and then more recently i got kicked off of instagram and that was a real head-scratcher because

00:30:58.400 i don't post any of the freedom liberty free market capitalism stuff on instagram it's more so just a

00:31:05.520 personal thing to you know every once in a while i'll take a picture of me playing golf with michael

00:31:10.720 chandler or out with kenny or something like that it it's it's the most benign did they give you a

00:31:17.040 reason did you get it back or is it just wiped wiped clean now no they gave it back to me oh i i did

00:31:22.080 they sent me a thing to appeal yeah and i appealed it and then a couple days later they they put it back

00:31:27.600 up did they give you a reason why it was shut down or oops sorry we our algorithms picked it up by

00:31:32.320 accident they didn't even do that i i didn't get an email or anything it just i i clicked on it one day it

00:31:37.520 was back wow interesting um you've you've been talking for a while about the market correcting

00:31:45.440 um one of the interesting conversations i think we had last time was you mentioned uh something like

00:31:51.920 the last it was nine ten or eleven times that they've started to reduce rates that the market

00:31:57.600 corrects and go south as well um they've been talking about reducing the rates where are we at right

00:32:03.360 now like what do you what do you think the uh statuses of that cycle so we have to look at the

00:32:08.640 yield curve and the right now fed funds the overnight rate is at 5.25 percent now jerome powell is coming

00:32:17.200 out and starting to speak a little more dovish as they say he's committed to doing three rate cuts

00:32:24.800 over the span of 2024 but he's not saying when he's saying it's dependent on the labor market a lot of

00:32:29.360 other things uh but the 10-year treasury yield is right around 4.1 maybe 4.2 the last time i checked

00:32:39.040 so the 10-year treasury is literally 100 basis points under the overnight rate that is not normal

00:32:48.080 what does that mean that means the market because rich if i were to lend you or if you were to lend me

00:32:55.360 let's say uh a hundred thousand dollars for the next 30 days the probability of me paying you back

00:33:02.960 and the probability of you taking inflation risk is low but if i say rich i need that hundred thousand

00:33:09.600 dollars for 30 years well you're going to charge me a much higher interest rate because you have more

00:33:16.080 inflation risk and you have more credit risk from a standpoint of 30 years who knows uh you know who

00:33:25.280 knows where i'll be what i'll be doing and therefore uh you have to be compensated for that that's why

00:33:32.080 when you look at interest rates throughout history the shorter term interest rates are lower than the

00:33:38.480 longer term interest rates and so if you see the opposite or short-term interest rates are much higher

00:33:46.080 than long-term interest rates that's the market telling you something is fundamentally wrong with

00:33:53.600 the economy and the reason the reason that happens rich in my view is because of insider information

00:34:01.040 so i know just from watching your content that prior to doing youtube uh you were an entrepreneur for

00:34:06.960 many many many years and i i won't go into the business that you're in i don't know if you share

00:34:12.560 that information but okay so you you were in the in the the credit business right and helping people

00:34:19.440 improve their credit scores so if i were to go to rich cooper i would get some insider information

00:34:27.680 as to what is happening with the consumer you know are they defaulting are they having more problems

00:34:34.880 paying back their debt what's happening with the overall credit scores uh or you would have

00:34:40.320 definitely have your finger on the pulse so you've got to look at the george soros the stan

00:34:46.560 druckenmiller the warren buffetts the paul tudor jones i i call them the financial insider the larry

00:34:53.040 finks it's like the camera in the coal mine yeah they the the same way that you had all that insider

00:34:59.520 intel for what was happening with consumer credit they have that insider intel as to what's happening

00:35:06.080 with the global banking system which has the insider intel as to what's happening with all the global

00:35:12.080 corporations you see so they're getting this in real time and the market doesn't have access

00:35:20.160 to this so if they are getting bad news bad economic news from all of these uh these multinational

00:35:29.200 corporations what are they going to do they're going to buy u.s treasuries because it's the safest

00:35:34.960 and it's the most liquid asset available and they're going to want to get the most bang for their

00:35:40.560 buck so they're going to take as much duration risk is what we call it as possible and that means

00:35:45.760 buying 10 year and 30 year treasuries that creates more demand that means the price goes up the yield

00:35:51.760 goes down and this usually happens at the same time when the federal reserve is increasing interest rates

00:35:57.120 and that's where you get the inversion of the curve and that's my answer as to why the yield curve

00:36:05.280 has almost a 100 predictive uh power if you go back to the 1950s the yield curve

00:36:15.200 inversion has preceded every single recession that we have had now it had a false positive once

00:36:21.440 in the 1960s but economic growth slowed substantially uh during that time frame

00:36:27.440 so and the curve wasn't that inverted if you look at the dynamics in addition to the curve

00:36:33.360 now i would argue that we've never been in this place before and not had a quote unquote hard

00:36:38.800 landing i'd also point out that the uk is in a technical recession germany in a technical

00:36:43.920 recession japan basically in a technical recession china is experiencing deflation for the first time

00:36:51.040 in 30 years so to have all of these global economies really struggling and somehow have the united states

00:36:58.960 economy running on all eight cylinders i think the probability of that is extremely low if you look

00:37:04.240 out over the next 12 months but it can take a lot of time rich that's the bottom line and in the interim

00:37:10.400 when the curve is inverted ironically the market usually goes up and it's when the curve starts 0.94

00:37:16.880 to un-invert by the fed dropping rates because the shit's hitting the fan that's when you start to see 0.55

00:37:22.160 the decline so i'm not saying that the market's going to crash tomorrow but i am saying if you're 0.84

00:37:26.960 a prudent investor you need to be cognizant of these risks of these risks and you need to be managing your

00:37:33.520 downside so the leading indicator where they're talking about a few rate cuts this year that's

00:37:41.360 just the tip of the iceberg there's going to be more than just a few really yeah so people look at

00:37:46.160 this as something that's bullish like oh my gosh the fed's going to drop rates and that means the

00:37:50.320 market's going to scream higher but what they forget is why the fed would be dropping rates we have

00:37:55.840 to realize that 5.25 although for a lot of people in markets right now you know the younger people

00:38:02.240 they think those are really really high interest rates but rich you and i you and i know for sure

00:38:07.440 those aren't high those are average 20 in the early 80s yeah but you can take it all the way back to the

00:38:14.000 1800s and that isn't really high that that's about average so if we have the economy running on all

00:38:20.560 eight cylinders like the central planners would have you believe then why would they be rate

00:38:25.600 lowering rates that doesn't make any sense to me and if you say well inflation is coming back down

00:38:30.960 to their two percent target well fine great uh so what we still just want uh quote-unquote normal

00:38:37.920 interest rates and again the curve is telling you that the fed is going to be dropping rates not

00:38:42.720 because we have a no landing but because we have a hard landing so you go back in time and look at all

00:38:48.560 these un-inversions due to what we call a bear uh bull steepener which is the front end coming back

00:38:54.640 down lower than the long end 100 of the time it's a result of the federal reserve responding to a

00:39:03.520 recession that we we've never seen a time when they've actually responded ahead of time to avoid a

00:39:10.880 recession once you have the curve inverted to this degree does does the upcoming election play into this

00:39:16.800 at all sure absolutely i mean that's a cross current that you have to consider and the fed is obviously

00:39:23.840 a political creature a political entity now i don't know how drome powell sees joe biden or vice versa

00:39:33.600 but i can assure you joe biden will likely be breathing down his neck and saying hey you know drop

00:39:38.960 rates or do whatever you can that is quote-unquote friendly to the market so i can get re-elected but then

00:39:44.960 you have to ask yourself is the fed at the end of the day more powerful than the market itself

00:39:50.160 and over the short term maybe over the longer midterm no chance and if you think the fed can

00:39:58.160 just come out with quantitative easing or drop rates back down to zero and it's all rainbows unicorns and

00:40:04.000 sunshine i would suggest going back to march of 2020 when the fed had to have an emergency meeting

00:40:10.080 and they're supposed to meet on a wednesday they met on a sunday and they dropped rates down to zero

00:40:16.240 they committed to over a trillion dollars a day in repo and they basically announced qe infinity and

00:40:22.240 the very next day the market was down by roughly 1500 points and the market continued to tank rich

00:40:29.520 until the government came out and said that they were going to do all this fiscal spending in the form of

00:40:35.520 the cares act that's when the market started to have that v-shaped recovery and go back up so the

00:40:42.960 yes there is a fed put but at a certain point the market forces are going to overwhelm anything the fed

00:40:51.200 does it seems like there you know it's not a question of if it's just a matter of when this

00:40:57.680 correction is going to happen and how hard or how soft it's going to be uh but based on the indicators

00:41:02.800 that you're looking at have you started to move out of positions from the market into stuff that's

00:41:08.400 more stable are you moving more into cash or yeah but i mean i did it way too early i'll be the first

00:41:14.080 person to admit that it was way early timing these things is is very very difficult uh and then it goes

00:41:21.520 back to what your objectives are right if your objectives like guys um well i think you're a perfect

00:41:30.000 example and i throw myself in that same category your your main objective right now is just don't

00:41:34.720 lose any of your pursing car like just i'm in a very good place let's at the very least let's maintain

00:41:41.280 that and if i can get a 10 or 15 return over the long run playing not to lose there you go there you

00:41:48.800 go in life i i think it should be the opposite playing i think you should be playing when you're younger

00:41:53.760 yeah yeah and even now for guys like you and i i think you should play to win but in just different

00:41:59.200 areas yeah when when you're looking at your ability to maintain your lifestyle especially at our age i

00:42:07.360 think you've and especially based on what we've uh achieved it's a different dynamic so uh if i'm

00:42:15.840 looking at it you know through that lens i would much prefer to err on the side of caution

00:42:20.560 and that's exactly what i've done so the way i've been playing this is i'm just sitting with

00:42:26.640 the majority of my portfolio in gold and t-bills and 90 t-bills and just being paid 5.5 roughly on

00:42:34.400 those and then just having a gold or gold miners or uh well with that it's it's a combination of

00:42:40.320 physical and uh the sprot trust and i i'd prefer that it's all physical but with my living situation

00:42:47.120 that that's very uh difficult to do so it's a combination of that and the sprot trust

00:42:54.000 and so that's how i'm sitting back playing the yield curve and then once it uninverts the probability

00:42:58.960 is high that i give an opportunity to go in there and buy something cheap and that's when i take that

00:43:03.600 dry powder that's currently earning 5.5 percent turn that into dollars take those dollars and then buy

00:43:10.400 the hard assets that hopefully are paying me to own them that i want to hold on to uh for the long run

00:43:19.680 so um

00:43:23.840 the new york stock exchange is at let's see if we can find a chart here right now

00:43:31.120 charts composite data you know while you're doing that if i'm a young guy though that just has let's

00:43:37.280 say 20 or 30 000 and i've got a decent job and i'm just starting off in life and or i'm starting

00:43:43.040 out in life and my objective is to get to the rich cooper level or the george gammon level as soon as i

00:43:48.880 can then it's a completely completely different strategy then what i'm doing is i'm realizing that

00:43:55.360 we're going into a cycle of massive volatility and i would probably be obviously much more short term

00:44:03.440 but i'd i'd be long like nvidia or something like that or i'd be long bitcoin but i would do that and

00:44:10.160 i'd be hyper focused on my stops nvidia is at the point now where grandparents are talking about it

00:44:16.320 and usually when your grandparents start talking about stocks it's like okay it's time to sell

00:44:22.640 yeah i mean look on one hand i completely agree and you're spot on on the other hand if i'm 25 years

00:44:29.840 old and i've got a decent job i got 25 i i'm i'm potentially taking a flyer but but don't get me

00:44:36.720 wrong rich i'm not just yoloing it what i would do is i would set up that trade to make sure that i'm

00:44:45.440 limiting my downside in case i get the timing wrong and then i've got asymmetry in the trade so as an

00:44:52.640 example i would i would do like what they call a vertical spread with options uh so if i'm right

00:45:00.880 over the next month then i make x amount but if i'm wrong i define how much i lose as far as a

00:45:08.400 percentage of my portfolio where what most people do is they just say oh i like nvidia i'm gonna go

00:45:13.840 long and then they just sit there and hope and pray and what ends up happening is they do the

00:45:18.720 opposite of what you should do they cut their winners short and they ride their losers right

00:45:26.800 because let's say you get into that nvidia position at a thousand you think it's going to 1300 over the

00:45:32.240 next month and it starts to go against them well they'll sit there and say oh i don't want to cut

00:45:36.560 my position i'm just going to wait until it comes back up to a thousand and then i'm going to sell so i

00:45:41.040 don't have to realize that loss or what they do is it starts to go in their favor and it goes up to

00:45:47.280 let's say 10 50 or or 1100 and they say oh my gosh i've already made five grand uh i don't want

00:45:53.920 to jeopardize you know this uh capital gain that i've had so i'm going to go ahead and sell right now

00:46:00.720 where if you look at the pros they do the complete opposite they cut their winners almost immediately

00:46:07.760 but they let excuse me they cut their losers almost immediately but they let their winners ride right

00:46:13.360 yeah yeah there was a book that talked about that i can't remember what it was called i read it like

00:46:17.520 it's every single trading book that has ever been written by anyone credible and and if your viewers

00:46:23.920 want uh some suggestions read the market wizards books it's one of the reasons why with my new setup

00:46:29.520 here i put books right up there and one of them is uh well the first one's beat the dealer that teaches

00:46:35.520 about probabilities but then the next one is uh market wizards by jack schwager he has three or four

00:46:43.040 additions of that and i i can't suggest them enough especially for the young guys who who want to

00:46:49.520 maybe take a little bit more risk jack schwager jack how do you spell schwager uh

00:46:54.960 uh s-c-h-w-a-g-e-r okay um so the current new york stock exchange composite uh is at 18 114 when we had

00:47:08.960 the uh scamdemic a number of years ago it dropped to the nine thousands what sort of correction are you

00:47:14.880 anticipating for this uh landing that's all i do you think it could be as strong as the 9 000 range that we

00:47:24.560 saw with the scamdemic absolutely it could it could also be zero i mean the market could go up

00:47:31.760 uh that that's why so many people on my channel i talk about the economy going into a recession

00:47:38.000 that's something that i can predict with much more confidence but they say okay george if the

00:47:43.280 economy is going into recession then that's going to be negative for the stock market and therefore

00:47:48.080 let's go out and short the s p 500 let's buy puts on the s p 500 basically benefiting

00:47:54.400 if the market goes down and i always say look i can't give you personal investing advice but me

00:47:59.120 personally i wouldn't do that why because you never know what the central planners are going to do for

00:48:03.920 heaven's sakes it is true that the market's going to overwhelm them but maybe the recession isn't bad

00:48:09.680 enough for whatever the response is to actually take hold i mean they could come up with like the

00:48:15.280 bank of japan and buy equities for heaven's sakes the bank of japan owns like 60 of the outstanding

00:48:22.320 sovereign debt i mean they've done crazy crazy things so why the united states wouldn't follow

00:48:28.960 that path just to avoid any financial pain i mean you got me i think that would be the path

00:48:35.200 of least resistance so that's what i would expect so the way i prefer to play a recession

00:48:42.640 is uh going long the two-year treasury because the two-year treasury is pretty much tied at the hip

00:48:50.160 to the federal reserve overnight interest rate so assuming that we have a recession the feds dropped

00:48:55.760 drop rates which is almost definitely what they would do then you're going to benefit by the decrease

00:49:03.200 in yield or the increase in price of that to your treasury so i got um i mentioned this last time we

00:49:09.840 did a show but i got a good friend of mine that's a money manager so he's a non he has a question for

00:49:14.400 you because he likes to challenge your uh takes on certain things uh so last spoke july 2023 he said

00:49:23.680 that you thought the market was in trouble and within 12 to 16 months so this was last summer

00:49:29.280 within 12 to 16 months it's been eight months and it's up 20 percent since then does he still think

00:49:34.960 july to december 2024 is the fall i i mean again as far as timing it's it's almost impossible to know

00:49:44.000 i mean he's he's what he's insinuating is spot on uh this inversion of the curve has been incredibly

00:49:52.640 long in fact i think we may be at the point right now where it's even longer than what we saw 2006 2007

00:49:59.120 that preceded the gfc so let's go into why george gammon would be wrong and when i would even come

00:50:08.720 on on my channel you know this is not about ego i'm happy to admit if i'm wrong but i can quantify

00:50:16.400 that pretty easily so if we see again the overnight rate let's say is here the 10-year treasury is here

00:50:23.280 if we see an uninversion by what they call a bear steepener so that means the long end of the curve

00:50:30.080 going up instead of a bowl steepener which would be the short end or the front end of the curve going

00:50:35.360 down and if we see that sustained then i i'll be the first person to admit that i was wrong and this time

00:50:42.800 is absolutely different and then i would have to figure out mechanically why you know what what happened

00:50:49.040 that made this time different than pretty much every other time going back to the 1950s but to his

00:50:56.240 specific point uh i don't know i i have absolutely no idea i don't even know if the market would crash

00:51:03.280 and uh again i think a much better way to play a hard landing is the two-year treasury or the curve

00:51:14.800 inverting due to a bowl steepener because regardless of what happens with the stock market

00:51:21.440 if they're trying to prevent a recession in the real economy you know almost for sure and again

00:51:28.800 there are no certainties only probabilities but like a 99 probability that they would drop rates

00:51:33.680 in which case the price of the two-year treasury is going to go up and he's got a follow-up to it he says

00:51:39.440 if the far if the far if the fed starts to cut interest rates and 30-year mortgage rates get down

00:51:45.680 to five percent sorry five percentish does he think real estate in the u.s will take off again

00:51:52.480 well so you gotta you gotta ask yourself why would they cut rates so in the past every single time

00:51:58.960 they've cut rates was due to the hitting the fan right so let's just assume that mortgage rates

00:52:06.240 go to from i don't know what they are now let's just say they're seven percent let's say they go

00:52:10.480 down to five percent or four percent okay but the unemployment rate in that environment is going from

00:52:16.480 four percent up to eight percent or ten percent so and then lending standards are going to get far tighter

00:52:26.960 so yes rates are going down but is that a net positive for the real estate market probably not and

00:52:34.800 i'd go back to the gfc i mean look we had rates plummet in 2009 2010 but what happened to the housing

00:52:42.880 market it went straight down until it bottomed out in august of 2012 so just because we have low rates

00:52:51.280 that that isn't necessarily bullish in fact low rates are usually an indicator that the economy is

00:52:57.840 unhealthy and is often an indicator that although money's cheap money's tight and most people think

00:53:04.560 that low interest rates equal money being loose and that's not the case um got a friend here in

00:53:11.760 the super chat asking about the rain tax in canada i think that's a toronto mayoral tax that was

00:53:17.760 introduced apparently i haven't heard about that enough uh i might bodge this up somebody in the

00:53:22.880 chat or the comments can correct me afterwards but apparently if you don't have enough

00:53:26.400 uh lawn on your property then there's a tax because of runoff or like rain runoff or something like

00:53:35.040 i don't know they keep making up these new taxes to live in toronto i don't know why people live in

00:53:40.160 a big city anymore it's just absurd to uh deal with all these inconveniences and tax rates uh with

00:53:46.880 less freedom and more wokeness and rainbows shoved down your throat yeah but again that's i think that's a great

00:53:52.080 reason why everyone should have a line in the sand yeah and it should be very defined and everyone's

00:53:56.800 line in the sand is going to be different i'm not saying there's a right or wrong it's the whole boil

00:54:00.240 the frog slowly though right like everybody says they've got a line in the sand but it's like okay

00:54:04.240 take one step back another step back and you you know you keep walking backwards over the line in

00:54:08.640 the sand very very slowly you don't that's my point moving the line right but that's my point

00:54:13.360 but if you don't have a line to begin with there there's no way that you can avoid being that frog

00:54:18.240 yeah so you've not only got to have a line but then you have to be disciplined enough to execute

00:54:24.640 your game plan when and if the government crosses that line um got a little bit of time left um

00:54:32.240 you've got the rebel capitalist event coming up in may june um it's coming up very quickly um you

00:54:39.280 invited me as a guest so i've i've got a speaking slot slot there yeah can you tell everybody what's

00:54:46.240 happening at the event is there a link that that they can go to to buy a ticket um that you can

00:54:50.720 mention and give them some insight on what's going to happen there yeah thanks for letting me plug it

00:54:54.400 rich it's rebelcapitalslive.com and they can see past speakers we've been doing this now for

00:55:01.280 about three years and they can see the speaker lineup that we have for this year it's uh i try to

00:55:08.080 bring a diverse group of guys and gals that i like talking to and so it's got components of real estate

00:55:17.680 gold crypto the stock market uh macroeconomics uh we've got guys like jeff snyder mike green

00:55:26.320 there uh but then we also have guys like kenny mccaroy uh kiyosaki stops by every once in a while

00:55:32.160 yeah and we've got guys uh that are in the plan b space freedom and liberty like my good friend

00:55:38.400 robert barnes i want to hear about that yeah yeah he's a constitutional lawyer that represents alex

00:55:44.880 jones and a lot of his uh let's say adventures yeah and and then we've got mark moss a good buddy

00:55:53.040 of mine who's uh he's a good macro guy but he kind of uh is in the bitcoin space i think you'd call

00:55:59.120 him maybe a maxi and so we're bringing all these incredible people together the one common denominator

00:56:05.520 we all have is we are hardcore proponents of freedom liberty and free market capitalism so if

00:56:15.760 you want to be a part of that group you can just check it out at rebelcapitalistlive.com yeah and i'm

00:56:21.040 gonna have to tailor my talk to that theme um so i'll be mindful of that when i put it all together

00:56:27.760 um yeah so grab a ticket guys i'll be there is is robert kiyosaki gonna be there this year you

00:56:34.240 said he might stop by yeah so he robert you know i'm very good friends with robert and he knows he has

00:56:42.320 an open invitation to anything i do and so although he's not scheduled to be a speaker uh it's not unlike

00:56:50.160 robert robert to text me a couple days prior and say hey i'm gonna be there and i want to talk about

00:56:57.360 x y and z and i'm like okay we'll make it happen so uh we have some vip guests that are coming we've got

00:57:05.120 the uneducated economist who's great on youtube we've got viva fry who's uh partners with barnes and

00:57:11.920 kind of that freedom and liberty space uh he was up in canada he was and then he got the hell out of

00:57:16.480 dodge he went down to florida yeah yeah so a lot of just super super cool people but the main benefit

00:57:24.880 is just rubbing elbows with people that share your world view and i call them rebel capitalists

00:57:31.040 i'm gonna i'm gonna message robert i got his number i'm gonna ask him if he's coming because

00:57:34.400 i'd like to meet him um yeah good show george yeah i appreciate you popping in saying hi and uh

00:57:41.360 sharing some wisdom um you know with our followers uh you know thanks for all the super chats and uh

00:57:46.880 you know the gratitude uh go check out uh george's channel rebel capitalist channel and uh george gammon

00:57:52.800 i've tagged it in the title uh he's got loads and there's more content than you can consume there

00:57:58.960 and i definitely want to hear about your road trip uh the cbdc uh challenge you know the gold silver

00:58:05.760 bitcoin sort of road trip to see how that unfolds i'll be uh i'll be watching and looking forward to

00:58:10.800 hearing the updates on that so yeah we'll be live streaming it on the rebel capital's channel from

00:58:15.520 the road so i'm sure we'll go through a lot of fun times a lot of trials and tribulations and at the

00:58:21.520 very least it'll be an incredible adventure that we can share with everyone and and again help them

00:58:27.520 prepare for what i think is coming yeah enjoy that road trip are you still into um the diesel trucks or

00:58:33.360 the supercars or what do you what do you do in car wise these days because i know that you're a bit

00:58:37.280 of a petrol head yeah so that's the one drawback to medellin uh the gals are great the cost of living 1.00

00:58:44.480 the weather everything but uh they don't really have highways here and they definitely don't have

00:58:50.480 any roads where you could drive like like a mclaren you know i had one uh last time i was in the

00:58:55.680 states so i kind of reserve that for uh when i go back to the usa you know temporarily or i'm spending

00:59:02.960 time in europe or something like that but what i have done to scratch the itch down in medellin is

00:59:09.600 a couple different things i bought an fj cruiser the other day which i absolutely love i didn't know

00:59:15.200 if i'd like it uh but now that i have it and i've taken it off-roading and i take it to some of the

00:59:20.800 towns and the exterior in the countryside it's oh it's one of my favorite cars i've ever had it's so

00:59:26.240 cool so awesome and then as far as the speed uh they are setting up a track here in medellin and

00:59:33.360 they do have a track up in bogota where you can kind of run the quarter mile on friday night saturday

00:59:38.880 night something like that so i bought a 2014 e 63 and then what i did is i had it tuned and as you i

00:59:48.480 didn't know how that would work but as you know that car uh has a lot of capacity and those turbo turbo v8

00:59:55.920 right that's right yeah you can get seven eight hundred horsepower easily out of that exactly so

01:00:00.160 stock it comes 550 and usually when you do a tune it only adds about 25 or 50 horsepower but there's

01:00:05.840 so much capacity they're not using those turbo chargers if you get a good tuner to your point

01:00:10.720 they can really ramp up the horsepower and he got it up to about 700 and i've had you know the lambos

01:00:18.640 i've had the ferraris i've had the mclarens and this thing in a straight line i would argue is

01:00:24.400 probably faster than all it's basically like a german hellcat so that's what i'm doing right

01:00:28.720 now as far as vehicles awesome all right man well appreciate you uh stopping by and saying hi guys

01:00:33.840 go check out george's stuff um i'll definitely have them on in the future and if you're at the uh

01:00:38.640 rebel capitalist event coming up i'll i'll see you guys there because i'll be there thanks man thanks rich

Playing to Win - July 25, 2024

PTW # 96 - George Gammon @RebelCapitalistChannel @GeorgeGammon

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