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Jeff
They just lost $280 million, man. The crazy part is this wasn't even some one off hack. This was actually how the system works. Can't believe it. And that's the problem.
Chip
Yeah, and this is where it starts to get just a little bit uncomfortable because you look at doesn't seem like it's just one bad event. Jeff. This is what happens when these systems get layered, more complex, more interconnected. Now you're starting to see those cracks show up pretty much in real time. We're gonna jump into it. You guys ready? I heard they're ready. You know what we're doing, Jeff? We're jumping in head first into the shallow end for what?
Jeff
Maximum impact.
Chip
Let's go. Welcome to on the Chain.
Jeff
Hey, this is Jeff here with co host Chip. What is going on? Chip, welcome to on the Chain. Great to see you, Chip. Great to see everybody out in the on the Chain community. All right, so tonight we're gonna walk through this step by step, aren't we, Chip? What exactly happened?
Chip
Inch by inch, like the three stooges,
Jeff
centimeter by centimeter, what actually happened with this 280 million dollar collapse? It's pretty shocking why Cross Chain systems are starting to introduce real risk. That's pretty impressive. And when even Flare stepped in and paused bridging some commentary on that and really what this might be signaling at a much bigger level. Because when you zoom out and look at everything happening here, it starts to feel like this isn't random. And at the same time, you've got XRP over here built very different. Right from the beginning, it was built to avoid a lot of this complexity. And if this is the kind of things that keeps happening out there, it really does raise a real question. Chip, are the institutions even going to want to touch this space? That's what I want.
Chip
It's debatable at this point. I guess what we could do is probably start at what really kind of happened here. Because the surface, you know, you see this $280 million loss sounds like just another headline. But you know, we start digging in, you see how it played out. It really starts to expose a pretty much a deeper issue of how these systems are designed. And when it comes down to it, that's where details matter is. That's when you contrast different blockchains and different systems. Because not just money was lost, it's how it was allowed to happen in the first place. That's the part people really need to understand. So I think we jump into this. I gotta, gotta find that wherever that
Jeff
is dig right in.
Chip
I had it right. I. I had it right on my. On my. On a special tab.
Jeff
Tab was open and it was.
Chip
It was open and I started talking. I think I closed it by mistake. It's. It's here. It's here somewhere. Where is it? I don't know where it is.
Jeff
Come on now. Let me open it up here.
Chip
Oh, here it is. Okay, I got it. Here it is. Here it is people.
Jeff
Article of the day.
Chip
Yeah, this is a good one.
Jeff
What's up Archie? Luxury live stream. Big fan of chips.
Chip
Came to say hi Archie Luxury live stream this here. Let's see Usually together but you know what? The original one I had to show but anyway I want to talk about it here because there's actually two things that are going down. That's why it's a little bit confusing because there's actually two things that are happening. First one that's talking about he said the current 280 million compromised contagions wild and this wouldn't be a problem with XRP's upcoming lending protocol. The XLS 66 comprised tokens are used as collateral to borrow valuable funds like ethics or wrapped eth. And then real potential to accumulate. How bad debt is the collateral value crashes. That's protocol threatening on XRP the upcoming loan origination like tradfi. It's not classic defi no over collateralization by borrowers to give out funds. But we'll do is we'll cut off safeguards deliberately here instead of relying on the collateral default of loan payments. It's isolated to a vault doesn't spill over. Very different from the classic defi as well. So I hope you pay attention to learn about the ups and downs of protocol designs that's unfolding in front of you over collateralized loans for anonymous borrowing lending no questions asked non collateralized loan collateral collateralized loans don't allow for anonymous borrowing. You can you know but that's risky and borrowers and lenders need to know each other. You need to assess the risk, the screening, all that. Oh and I haven't even touched on capital efficiencies here and you know and here's some screenshots of it. You know like ether fight. We're tracking the developments around the kelp the wrap. This is like a wrapped eth and coordinated closely with our security partners to ensure the wrapped eth remains insulated from any impact. Then you have the gauntlet. We're aware of the potential exploit regarding the Cal Dao our optimization engines already adapting to the Expected market volatility. Look at the way they're spinning this, Jeff. Furthermore, the entire risk team is on deck having martinis. No, they're. They're actively investigating having a scotchy poo. Initiating off risks and then we've got. There's Lido. Lido. The Lido earned team is aware of the develop. See, it's a developing situation, Jeff. It's not a 280 million dollar heist. It's a 2. It's a developing situation with the kelp dial exploit, man. EARN ETH has exposure to RS as a precaution for the deposits of the Earn ETH have been paused while the situation is assessed along with relevant partners. So you can see they all have the thing. And ave said the RS ETH markets on avi v3 and the avi v4 have been frozen. Frozen, Jeff. Until the exploit is locked out. The freeze out 10th Avenue freeze out Freeze follows an exploit of the kelp DAO RS eth bridge. Freezing out the RS eth. And more specifically. Let me. Let me show you what happened. Let me pull this up here.
Jeff
If your ass gets assets get caught up in the freeze, that spells a little bit of trouble forever gets caught up.
Chip
Yeah. And so let's take a look at what that fallout look like. According. So coin bureau says that the ave is down 19 today. A 292 million kelped out exploit. Again, an exploit. That's the word of the day is exploit. Triggered a full blown liquidity crisis. Obvious ETH pool just hit 100 utilization. That means one thing. There's almost no ETH left to withdraw. That becomes a major problem. Here's what happened. The attacker drained 116500 RSE. That's $292 million from Kel Dao's layer zero bridge HE. Assuming it's a he. I don't know. It could be he. Could be a they. Them too. Jeff deposited the stolen RS ETH as collateral on Ave V3 to borrow 236 million and wrapped ETH. Because the RS ETH is now unbacked, these positions are unliquidatable. So AVI is now stuck with a 280 million in bad debt that it cannot recover. Panic withdrawals followed yet 5.4 billion in each outflows. Justin sun pulled out 65 584E. That's $154 million alone. Then you had eth utilization has maxed out at 100. Which means there's almost no ETH left to withdraw. This is the big first real world test of AVI's umbrella safety module and the biggest D5 exploit of 2026. And we're only in April, Jeff. I mean, it's been a horrible. It's been a horrible year. But look at this.
Jeff
I mean, look at that crash. Talk about a flash crash.
Chip
You never want to see that. Your crypto portfolio ever.
Jeff
No, that would be a bad thing.
Chip
That's like up.
Jeff
Especially when you're stacking gains. Look at those gains you're stacking.
Chip
Yeah, you were like pushing, you know, a little retraction, up again, a little retraction, up again, up again and boom. Crash. That's pretty rough there, man. That is a rough deal. Rough deal that's going on there.
Jeff
Pete Hendrickson from San Francisco.
Chip
San Francisco, baby.
Jeff
Francisco.
Chip
San Francisco. I like San Francisco, Jeff. San Francisco.
Jeff
All right, so this name as you remember it.
Chip
Well, a couple of times about back needles and feces and the smell of urine everywhere. That's the last San Francisco I remember. It was pretty rough.
Jeff
Pizza. Pete's comment, not gay.
Chip
There you go. Hey, Charles. Born in Sawiki, Swickley. Oh, that's. I lived in Dormont, Penn. Graduated from Keystone Oaks High School. Look at that. Tony, Tony, Tony. And that's not bad, Pete. 49ers, Steelers. Poor chips. Bills. Why am I. Why poor chips, Bill? What's. What's poor about them? They're going back to. They're going back. They're going back. What are you talking about, poor chips? What do you mean? The best quarterback in the NFL. What are you talking about? Poor chip? What's wrong with you people? What's wrong with you people? Wow, says Charles. He's impressed with that.
Jeff
All right, so now here you got. You got. The Buffalo Sabers are playing the Boston Bruins tonight.
Chip
Yeah, I was watching this division. Yeah.
Jeff
First period, four minutes.
Chip
Well, they usually lay an egg in the playoffs. That's why they haven't been back in 12 years or whatever. It's been 12 or 15 years. That's why I have the root for. Since you can't root for Florida anymore, Jeff, I gotta root for my own hotel team. The Panthers just took a. This year. It's horrible. Like they won the last two years. I mean, give them a break, you know?
Jeff
Yeah.
Chip
Should have made the playoffs, though.
Jeff
They had so many injuries. It was. It was.
Chip
Yeah, injuries. Was. It was. Was. Yeah, that sideline them. And then like they never just. They never recovered. So the pause stems from an ongoing investigation defi incident involving so liquid staking details the exact exploit loss are still emerging. We kind of have some of them. There you go. That's kind of it. So that's all we got, Jeff. Gonna flip over to this Luke Judges. Who is. Who is one of those honchos over there? He. He's a middle management in a little bank called Ripple.
Jeff
Never heard.
Chip
And he said the XRPL architects made a fundamental and deliberate design decision over the past decade work alongside the traditional financial system rather than seek to replace it.
Jeff
I like that.
Chip
Well, they were trying to replace Swift at one time. It's not 100% true, but Swift's not really. Swift's the evil side. The side hustle for the banks.
Jeff
Exactly. They're not really the traditional financial system.
Chip
Not per se. No, not really. So recent developments in defi may be telling us something important. That some of the convoluted off chain processes and traditional finance exist for good reason. And then settlement built with fixed function. Simplicity is the way forward. There you go. That's it.
Jeff
Good commentary.
Chip
He comes back with the purse. That's a personal opinion not representing Ripple's views. I was like, I was probably told to post that later. Please don't post this as Ripple. But then there's like five maximum financial primitives that account for a more majority of TVL on the general purpose blockchains you've got. This is how it breaks down, Jeff. Lending and borrowing, Check. Spot trading, Check. Perps and derivatives, check. Stable coins and real world assets, check and yield aggregation and vaults. The problem I still wrestle with internally is that all these require some deep level of customization to achieve. Maybe it's a middle ground with smart features where the roadmap is heading. Interesting to think about this stuff. Vet says, that's right. Sounds like we're in the crisw the problem or.
Jeff
That's right. The interesting to think about this stuff.
Chip
Well, that's right. The whole thing's right. That's what. That's what Chris Voss told you to say. Chris Foss says, that's right.
Jeff
That's right.
Chip
That's what you want to hear. That's right. It's exactly what you want to hear. So there you go. There's a couple of things. And then Saul came in and he said, saul Target. That's uptown Saul. And then LJ said, I thought you might get involved. So there you go.
Jeff
Yeah. Alongside trade.
Chip
Yeah.
Jeff
The world's not ready to replace Trad Phi, is it?
Chip
Is it Tradfire? Trade fight. Trade fight.
Jeff
Like trade. But even though there's no E in it, makes more Sense. It's just traditional finance.
Chip
And so Flair joined the conversation. Tradfi, Jeff, take this one.
Jeff
This is flair man. Flair. Flair is up to some amazing things as always. As always, we're starting to see a little bit of pressure testing as well. So Blair, as a precautionary measure, we are temporarily pausing FXRP cross networking via ofts between Flare, Ethereum base and other supported networks while the RS Eth incident is being investigated. So that's a smart thing. That's temporary. Put a temporary pause on it. That's not exposed to too much risk. With the incident taking place, users holding FXRP and non flare networks cannot currently redeem as redemption requires assets to first be bridged back to back to Flare. FXRP on Flare continues to function normally apart from oft based cross networking minting Redemption liquidation and all other in network functions on Flare remain operational. This wasn't a flare issue. This was a protective measure to really pressure test the ecosystem for flare. There is that. They didn't say that. I just inputted that. There is currently no indication that of an issue affecting flare or F. Assets will share further updates as the situation develops. And that's all Flair. You know this came out. That was what, yesterday? Around the same time? Yeah, it was exactly 24 hours ago. But it's really cool, you know, to see that flares on top of it. They're looking to protect their community, looking to protect the ecosystem. And you know, there's definitely some stress testing going on, you know, based on we have to concern that stuff's going to happen in the ecosystem and those within the ecosystem better respond. Yeah, we don't want to see this become kind of epidemic.
Chip
Yeah. And Hugo said today I'm thankful for the XRPL escrow feature. It's a key part of our design at fxrp.
Jeff
I love it. Yes.
Chip
So there you go.
Jeff
Very important.
Chip
It's great to say, you know, it's great to have that. So bam, there you have it. There's one part of it. I mean it's not. It's a Sunday. There's not a lot going on with crypto thing. But what else we have here?
Jeff
That was a ton right there. Yeah. One, one group losing 280 million and then Flare, you know, shutting down. There was a lot of animosity within the community when Flair shut things down. If you've read.
Chip
Oh yeah, I did. Oh yeah. Because then it was. Because then you're like, it was like. Wasn't necessarily a rug pull, but you couldn't get at your Flare, you couldn't get at your, you know, your Reptex or your. So yeah, I understand that, but listen, I mean, what. Even though it's probably not any risk exposure, you still cut it down. You still, you know, you make the decision to shut it down. Because if you don't, then you're. And something did happen, you'd be like, well, why didn't you, Jacob? Why didn't you do something? Because like the chances of it happening are pretty slight. But you know, you got to do the right thing. Panos chimed in with this. He said, you know, and this is really a really good post here, he said, crypto as a brand is really cooked at this point. Exploit after exploit, people are exhausted. They're tired of tokens and scams. Individual and boring. Real world use cases that work for everyone is the only solution for the industry to get mass adoption. Blockchain must become invisible. Low risk defy OPSEC insurance and more important than ever. Right? It's such a. Says a lot with just a few words. But I. We talk about that all the time, Jeff. It's got to be invisible. It's got to be easy, man. You can't.
Jeff
Nobody cares how the engine works.
Chip
Nobody cares. Nobody cares. But, you know, who cares right there. This is great. Let's talk about 50 years ago. 50 years ago, they won some. They won a championship. Now I know they won in 2002, was it 2007, 2008. But come on, let's let that go, okay? Tony says the Steelers were incredible, so. They sure were. Wait a minute. Let me just talk about something though.
Jeff
Different management.
Chip
Well, here's the other thing. When you drafted a player, you acquired a player. There was no freaking free agency. You were born, you, you became a Steeler and you, you retired a Steeler. That doesn't happen anymore, man. At the free agency, you know, all of a sudden you lose 10 players. Now you got to figure out how. You need other players, but you got to figure out how to replace the 10 players that just left. And plus bringing right, you know, positions in, you need. It's not the same game. You know, Terry Bradshaw wasn't going anywhere. There were no like giant contracts that were going to steal away players, you know. It's not going to happen, man. So.
Jeff
So Chad saying exploits are scaring off weak retail.
Chip
Yeah, weak retail for sure.
Jeff
People are dipping their toe in. You have some of the big risk takers. That's always going to be the forefront. Look at micro strategy. They bought a billion dollars worth of bitcoin recently. So there's a lot.
Chip
That's a good point too. The salary cap and the free agency thing. Well, what I, I think what, I think what really destroyed it, the free agency, it gets to a point where when you drive up the price for everything and you're up against that cap. Yeah, some, some teams that stink or whatever, you know, they, they've got a lot of cap room. So they go and hire the people. Real high values. They leave that team and you get to a point of where you're dumbing down teams because now people are leaving and they want to stay with the team. Like you have somebody lost Steelers this year? Now, they would have preferred to probably stay a Steeler. The problem is someone's, you know, listen, this is a job. Anything. At the end of the day, we love to watch this, fans, it's a job. You get this much cash or you get this much cash. Which one do you want? I'll take the two stacks of cash. And then they leave. And then a season later they go somewhere else. Look, they're trying to find a place to call home. At the end of the day, they're just trying to pay their bills and collect the most amount of money they can. At some point start topping that out. And then it becomes, it just becomes a poor league all the way around. I think, I think it's, I think it's bad for the league. I think they redefine how they do this because, you know, look, Josh Allen makes $54 million a year. The ex Miami quarterback, Jeff Tua Tagliabola, he makes 53 million. But Josh Allen, really, 54 million with incentives can make up to 73 million a year. It's a lot of money, man. You know, you look at the Yankees, I think their whole payroll is like 180 million.
Jeff
So the crazy part about all that is that it ends up falling back on the consumer. Those that want to go and watch the game. And, and now that's getting to be so out of control. Not just to go to the stadium to watch a game, but try to watch a game on tv. And now you got to get whatever network you have to pay for their package. And now you're paying hundreds of dollars of network fees that because you have to have registered to this app or that app, it's so out of control, they got to get back to the game. You know, they're going to keep going. They're going to say, well, consumers are paying it well, consumers want to consume it, but you're limiting Those that can. That can attend. It's. It's really. I think it's. It's overall, it's changing the dynamics. When you overpay somebody for the game, then they become prima donnas, and they're not playing the game the way they need to play it. And then, you know, now if you look at what's happening, the collegiate players, so starting in the 25, 26 season, so now all of a sudden, schools are going to start playing paying college players. And so what happens from that perspective? The college player is already getting tuition free. They're probably on a scholarship to play ball or whatever they're playing now all of a sudden, not only do they get the free education, but they're also going to be paid to be there. Does that. How does that adjust and change the game as well? And where's the transparency in all this? Let's record all these moves on the blockchain. And then what happens to the. Those that want to go watch a college game? All right. Are you going to now raise the cost of going to see a college game exponentially? I mean, it's so. It's so out of control. And then how does that then factor over into professional sports? So I think we have a massive issue that's going on. It's obviously a massive money generator as well. So I guess you can't fault that side of it. But they're driving it. It's out of control. Out of control. Not even fun going to see a game anymore.
Chip
It's not. And the Bills are opening up a brand new stadium, and people are mad because they raised the hell out of the season tickets. They put in a lot more, you know, boxes. It's just they. They just. They elevated almost every part of it where a family, you know, a four, can't even take their kids anymore to a game. It's getting the point of where. And I'm always wondering when I see, like, these toothless people on TV and I'm like, who are these people? Don't even have a job. They're living off the government. How are they at. How are they at a game? I can't afford to go to a damn game. They're at the freaking game. What are they doing? It's just the weirdest thing in the world, Jeff. Something else that started out like that is Coachella. So Coachella festivals happen this weekend. I used to love Coachella. I always watch the live stream. I always said I wanted to go. And I looked at the lineup this year. I don't there's nobody that I want to see, Jeff. There's nobody there I want to see. The first night I get like Sabrina carpenter with a 67 year old Madonna dressed like she's 20, 23. I don't want to see that, Jeff. I really don't. But now the coach, if you guys know what's behind the Coachella Festival, it was founded in the 90s and it was out of this thing. Remember? Remember? Do you remember back when Pearl Jam was fighting Ticketmaster and the high fees and their fans were getting ripped off? Right. So Coachella was founded and the first one is, you know, Pearl Jam headlined and it was a first or second one, but they, the tickets were like cheap. Like here's a guy, he's just posted this like $90 and you got the whole weekend. So you have Friday, Saturday and Sunday, three days of music. It was supposed to be fun music. Well, then they, then it was not doing well for a while. So they'd raised the ticket prices, revamped it and look at the passes now. They start it's around 549. That's the early bird. They'll sell out right away. So you pay 650. And people were like, these influencers. Like, I just bought a 17 lemonade. And what is it special about it? He'll call it? No, It's a lemonade. 30 chicken sandwiches, Jeff. I could shell them. People are walking around excited. One guy bought a Caviar burger for 160.
Jeff
Yeah. It's so stupid at this point.
Chip
Stupid.
Jeff
It's just stupid.
Chip
Twelve hundred dollars for last minute tickets. It's just insane. So something. And it always starts out with good intentions. That's why I say if you want to see a dictator with great intentions, ukele is your guy. He's. We never thought it would happen. When you have a dictator with good intentions, like a lot of cool stuff can be done, but you know at some point that's going to revert back to. It's going to go right back. He leaves, it's gone. Look what happened with Trump left. He got Biden let 22 million people in the country or 4 or 5 or whatever it was. Jeff. It was a lot, a lot of people.
Jeff
Way too many that don't, don't, shouldn't be here.
Chip
There's way too many. And we're kind of light on stuff today. Jeff. I think we might actually finish early. I like the sound of this. We could probably find ways to talk about stuff. I saw this video. This is funny. You Know that you always play the Dilly team. They always come up with those cool memes, right? So. So Trump reposted this one. It's a good one. Look at this one.
Dilly Meme Team
Do you remember what it was like when the 2020 election was rigged and stolen? Do you remember all the stories people told you about how the fraudulent election would be overturned? Do you remember the symbols of tyranny when fences went up around D.C. for Joe Biden's inauguration? Do you remember watching fuel and food prices skyrocket in a matter of months? Do you remember watching our borders being invaded by a virtual army of unidentified criminals? Do you remember watching our nation get sick, systematically destroyed for four years by the Joe Biden auto pen administration? Do you remember longing for the days of winning when we had Donald Trump in the White House? Do you remember thinking he was going to die when the bullet aimed at his brain only grazed his ear? Do you remember rejoicing after witnessing the miracle that saved his life? Do you remember celebrating the epic landslide victory in November of 2024? Remember, this is what you hoped for. This is what you prayed for. This is what you voted for. So why are you questioning every decision he makes now that he's back in office? God didn't save his life so he could make mistakes. He knows what he's doing. Maybe it's time to shut the up and let him cook. This has been a public service announcement paid for by the Dilly Meme team.
Jeff
Love it.
Chip
I like that line. Maybe you should shut the up and let them cook. It's true though.
Jeff
It's like the up. They. They. None of them have any idea what's going on. They're. They're all just dumb as, as. As a box of rocks. None of them have any intelligence. Zero. You know, it's. They've lost the narrative.
Chip
Well, look, I mean, when you're. When everything you say and do is tied to money, you know, more money coming in and sponsors. Well, the best part, you know, Candace Owens, Jeff, I don't know if you've seen this, but she's got that ongoing lawsuit with Brigitte Macron, you know. Oh, yeah, right. So. So who does she hire? She hires the best Zionist Jewish attorney. Like, this is not parody, dude. It's true.
Jeff
She.
Chip
She doesn't like the Jews. She talks about Zionists. The Jews are Zionists and this and that, but when your gets in a ring, you know what I mean, you get. You hire the best dude. And she had to get a Zionist attorney is who's representing her. Jeez, man. It's no joke. It's for real. It's reality.
Jeff
Awesome.
Chip
It's reality, Jeff. That's what. It's the way it goes.
Jeff
It's just invincible ignorance. Exactly what it is, Chad. It's unbelievable. No, all they've been doing is, right, Chip, just questioning Trump's moves. Every two seconds. They just question it. So out of control.
Chip
It's out of control. And it's like. I mean, we had four years, right? Yeah, we had four years of amazing stuff happening. And then all of a sudden, you know, everyone's so disappointed when 2020 hit and stolen, blah, blah, blah, went through four years of just. I mean, remember when the Fed cut the rate and inflation was at 9.2% or something like that was like 8 and a half or 9%. They're like, things are looking up. They cut the rate. Meanwhile, it goes down to 2%. Is like, oh, I don't know. And so the very. The very, you know, institution, the Federal Reserve. Now, does it better for them to have high interest or is it better for them to have low interest rates? I mean, the more interest rate. The higher the interest rates, the more the Fed takes, Right? Because they charge the United States government interest on their money. It's fantastic. What a great system. And everyone's like, oh, they should be independent. Really? How independent are they? If they have 9% inflation, you know, they set the rate at 6, 7, 8%.
Jeff
Yeah.
Chip
And they say that that curbs inflation. No, it doesn't. You know what curves inflation? Stop spending. That's what curves inflation. Stop freaking spending. That's the only thing that curbs it. I mean, Jeff, every day I get these New York Cities popping up on my feed, these New York City stories popping up. There's always some dumb story about. And then I had to look at these nut jobs. Okay, just watch this, Jeff. I don't know what Obama's doing with mom, dummy. I don't know if they're doing some kind of PR spinner campaign. I don't even know what they're doing. But I watched this and I was like, what is going on? Watch this. They visited a school. Why, Jeff, do you know. Do you know what's going. I mean, what is going on? Like, what. What is Obama doing? What are they doing to school? Swish, swish, swish. I like this one better. Personally, myself, this is the one I like. Yeah, there it is.
Jeff
Let's sing the bus song. The wheels on the bus go boom, boom, boom, boom boom boom boom, boom, boom, boom the wheels on the bus go boom, boom, boom into the synagogue
Chip
Boom, boom, boom into the synagogue the
Jeff
wheels on the bus go boom boom
Chip
boom boom boom boom boom, boom the wheels on the bus go boom, boom, boom into the synagogue Boom, boom, boom
Jeff
into the synagogue the wheels on the
Chip
bus go boom boom, boom into the synagogue Great job, everyone. That's rough. Into the. I'm sorry. You have to, like. You have to like that, man. It's pretty much just. The funny thing is the guy that posted this, he. So you remember the whole thing with the buses? Remember what? The buses were going to be free, right? Weren't they? Remember you were gonna be free. Then it went up a dollar. He said, is it a free bus? No, of course it's not a free bus.
Jeff
No.
Chip
Obama and mayor zora mandai joined the children singing wheels on a bus. It was a child care center in new york city. I don't know, Jeff. I think the boom, boom, boom was a little more appropriate from what I. I. What I know.
Jeff
Oh, yeah. So those guys know.
Chip
That's all they know. It's so funny. Like, that just comes out and somebody's already all over it. You know what I mean? You gotta love how fast they're so fast. I don't. That was good. I don't think it was a good thing. You rode the short bus. The short bus, they called it. All right, we're in a little contest right now. I want everybody and Jeff. Jeff and I are going to be the. The. We're going to be the judges here. I want everybody to caption this photo. Like, if this is a caption, I want you to put your best caption. Come on, Mark smithson. We're counting on you. Let's go. Let's go. Ready? Here it is. Caption. This picture right here. And the picture, if you're listening only, it's a picture of Obama and mum dami laughing their asses off. That's the picture. A bunch of school drawings in the background, guys. Let's see. That's. That's gonna be. So far. That's the best one. I wrote a yellow bus and he didn't even know. He's like, foresight. Look at that, Jeff. That's a great caption for this photo. I'm already loving it. I wrote the little red bus. Yellow, yellow bus. That's great. There's a good one. Art. Dumb and dumber. I like this one a lot. Dumb and dumber. It's hard to know which one's dumb and which one's Dumber. That's the thing. Dumber and dumber. That's what I should have named the sequel. Dumb Earth. Pitching a low for the cause. Oh, pinching a low for the cause. Whoa. This is very good. I like that pension. Wow, look at that. Mom. Dummy likes it. He's laughing his ass off. Well, there we go. I like all of these. These are both good. Dumb and dumber fits. That's very appropriate. Pinching a low for the cause. That's a good one. And this one is too. I wrote a little yellow bus, so that's very believable at this point. It's believable, Jeff. Massively believable.
Jeff
So you see, we had to fire on a Iranian flagged freight.
Chip
Oh yeah.
Jeff
Carrier today.
Chip
Yeah. Do we pop a hole in their engine room? Yeah.
Jeff
These. It's just, it's getting to be. It's one more thing just out of control. And they're trying to put all this spin on it. The Iranians, you know, they're try. We bring them to the table, get ready to negotiate, put in some path to change over what's happening. Trump had some really good expos?
Chip
Today too.
Jeff
In and around. You know exactly what's going on.
Chip
Oh yeah, he has some good ones. Maybe we should read some of those too. That would be good. Every once in a while, Jeff, you get into this like you have to get into with these nut jobs on online here. Ron Carter put this up about the most insane single day in American history. I ran a grade to this list. That's not. And Earl, pal, Tigger, dictator know it all says Iran says liar. Sure. So I chimed in and said yet Iran always proven to be lying. Okay. He said, sure, bud, sure. This is an English guy who left the UK because he wanted to settle in Dirty Sanchez ville, which is Spain. And I said look how the European lead look at the European leader Starmer and a lot have embarrassed themselves in the world stage. Turned out to be no ally. Big mistake. No worries. The UK finally sent the SHMS Dragon to the Middle east. To the mad, I should say. And the ship to hit port for emergency maintenance on its onboard water systems. Right when it mattered. Just like your pm useless effort around find out. He says, what are you on about? The entire world is against Trump. He's the idiotic president of the history of the United States and he's apparently won the war 100 times in Iran. What's wrong with you? This is how Europeans think, Jeff. Well, not all of them. Some of them. Not the ones that are initial And I said, jeff, the president who delivered the Abraham accords, the only real peace breakthroughs in the middle east in decades during his first term. The same president who neutered Iran, crushed its nuclear ambitions, ended the Iranian state sponsored terror that bled the region for years. The same president who exposed Europe's pathetic weakness for the entire world to see when Trump floated buying Greenland. Remember that, Jeff? European crybaby leaders are always like, oh, they finally suddenly found their spines. Or they we're going to defend it up and down. But when Trump asked to land American planes for refueling in the UK, Spain and Italy, one of those spineless NATO freeloaders slammed the door in his face. These are the same clowns. Refuse to pay their fair share in the NATO, yet they demand American bleed money and lives to protect them. They want all the rewards. They have zero skin in the game. Best outcome for the free world would be a full NATO collapse the moment the United States walks away. Go ahead Europeans, take some of those sky high taxes you already pay for your precious free health care and finally find your own damn defense for once. But we know you won't. Too weak, too soft, too addicted to American protection while you sneer at the hand that feeds you. Picture this, Jeff. The moment the first shots are fired, they'd wave the white flag, apologize for existence and crawl back under socialist blankets for a long nap. So tough, so brave, so European. There you have it. Sometimes you got to engage with these people, but it's like shooting fish in a barrel, Jeff. They're not the smartest people around.
Jeff
They're not? Nope. But then you get this. Look at this awesome post from Trump.
Chip
I didn't see any. I didn't see him actually hit the ship though.
Jeff
Yeah, it didn't show it. But Trump is saying that blew a hole right in the side.
Chip
That's what I heard. Yeah. But I don't think it was like it sank the ship or anything. I think it was in the side.
Jeff
Yeah, it was probably fixable. They refused to listen. Third navy ship stopped them right in their tracks by blowing a hole in the engine room. Right now, U. S. Marines have custody of the vessel. The tosca is under U. S. Treasury sanctions because of their prior history of illegal activity. We have full custody of the ship and are seeing what's on board. And that's it. That's great.
Chip
Yeah, you gotta love that, man.
Jeff
First ask questions later.
Chip
You gotta love it. What else did he post here? He posted a bunch of stuff, man.
Jeff
There was something else that was good. Let's Pull that one up. Hang on.
Chip
That's when you got the other one.
Jeff
I had to go back. Pull them up. Hang on.
Chip
Pull it up, man. What you got? What you got?
Jeff
Don't have it open. I gotta go back and find it.
Chip
Yeah, Jeff. And then I got some more back and forth with Mr. Mr. Tiger.
Jeff
You have more? That wasn't it.
Chip
No, there's more. There's always more. I'll tell you what, you can take his part, you can read it like the goofy socialist he is and I'll read my part. Okay, ready? Start with this one. Yeah, I already read this one, but I had, I had another thing to say about it.
Jeff
What do you want about? The entire world is against Trump. He's the idiotic president in the history of the United States. He's apparently won the war 100 times in Iran. What's wrong with you?
Chip
And then I said your left wing lunatic leaders have failed at every single turn. No coherent energy plan, just net zero fantasies leave you freezing in the dark and begging foreign suppliers, no serious economic plan, open borders, sky high taxes, bureaucratic bloat that crush growth while the bill piles up, no credible defense plan, hollowed out militaries, decades of underinvestedment, and a Royal Navy so gutted that when tensions flare in the Middle east, your Little Deployable Type 45 Destroyer, the HMS Dragon, has to limp in a port for water system repairs right when it was supposed to be standing guard. That's what happens when the woke mind virus infects every institution. You got neutered virtual signaling elites who prioritize pronouns, diversity quotas, climate, sermons over hard power borders and national survival. The result, a con. A continent that's increasingly soft, divided, ineffective on the world stage. Enjoy the consequences. Good luck defending yourselves with the real threats. Don't care about your feelings or your hashtags. Islam's not going to be conquered by rainbow flags or ES Institutions goes even further. Go ahead, Jeff, take that one.
Jeff
Ah. Oh, here we go. You do know we have a better standard of living than the, than the U.S. you do realize that, right? As for energy, I don't pay anything. Instead I get paid for providing energy. Here we go.
Chip
Yeah, here we go. Here's your standard of living. Well done. Remember this? Remember that? That compared their following states. They asked the Brits who do they think they are, like in New York and they said they came in seventh and it was 51st. 51.
Jeff
My God. Standard of living focused on income. I'm in Spain, not the uk. I left the UK Five years ago. That standard of living turning out in Spain now.
Chip
Yeah.
Jeff
With all these that are flooding their streets.
Chip
Well, then Dirty Sanchez say he's gonna legalize 500, 000. He's gonna legalize them. Like, he's gonna be like, up there, half a million people are citizens. I'm like, look, the UK's still your home. Spain is the thing with better weather. And I know he lives in Spain for five years. I just love the mess of them. Read this one, Jeff.
Jeff
I was looking for the other one. I know my home is here in Spain. I don't own my house in the uk. Only in Spain. Better weather, better food, cheaper prices and happy people. So he's not happy with the uk
Chip
is what he's saying, Bro, he left the uk. He's like, I don't even call. Don't even say I'm from the uk. I don't know anything there. I said, yeah, I get it. UK so bad you had to leave one social experiment for another. To woke mind virus took hold. Willing to erode your own culture and way of life by mass importing the third world. As Donald Trump famously said, if you import the third world, you become the third World. This is only the beginning. Good luck. You're gonna need it. Spain approves plan to give 500000 undocumented migrants legal status. What in the hell's going on, Jeff? You have to wonder sometimes.
Jeff
It's crazy.
Chip
You have to wonder. And then, then this, Jeff. And then this is. And they go like, oh, Chip, don't you think you're overreacting? Well, here you go. Take this story, Jeff. This is a good one.
Jeff
Here we go. Now, this goes all the way back over to the UK in Rotherham. So the Muslim mayor of Rotherham in the UK says that Britain can only be great again by implementing Sharia law and demands the expulsion of all non Muslims, including British citizens. Did she actually say this?
Chip
She did. She actually said it. But she didn't say it in English though, Jeff. No, she didn't say it in English. No, they don't. They don't say.
Jeff
So they say the. The secret part in a. In a. Probably typically in Arabic or.
Chip
Yeah, it's in one of those languages. But somebody translate. This is the mayor of a UK city.
Jeff
Chinese.
Chip
But that's. And that's what Sharia law is, by the way. You just killed. Are you. She's being nice. She's like, we're just gonna deport them. We're not gonna actually behead him. She's like we're gonna. She's. She's being very. Nice job, very kind. That's not how Sharia law works, actually. You remember John Cleese from oh, yeah, and Monty Python days? Well, he said this. He said, well, at least we're not getting beheaded first, right? He's so on this. He is so on this. And he's a lefty too. That's the funny thing about it. He needs a Trump. He hates Trump, man. He does not like Trump at all. Trump, total Trump hater. Not a good. He's a Trump hater. Speaking of, since we're on that subject, you know, I like GB News. I don't even know. Is anybody in here from the uk? What is GB News? Is that like an independent station? It's not. I mean, it's like, it seems like it's the anti BBC or the counter BBC. Anybody in from the UK tonight? It's probably too late, whatever. But I thought this is interesting because they're always. I'm surprised that they're even able to get away with this stuff, Jeff, because they don't really have the free speech thing going on there. You know what I mean?
Jeff
They don't. They have nothing over there.
Chip
Yeah, Here we go. Listen to this. Here we go.
Comedian/Political Commentator
I want to make something perfectly clear.
Jeff
I am absolutely furious.
Comedian/Political Commentator
I won't continue the bit. I. Unfortunately, my acting abilities cannot betray the lack of charisma from Keir Starmer. But I did want to get across. I did want to get across how he is once again late to the party we saw yesterday Mkir Starmer and Emmanuel Macron with the coalition of the unwilling 40 odd countries meeting together via Zoom. It's interesting that Keir Starmer still had to travel to Paris for a Zoom meeting in order to hear their grand plan to reopen the Strait of Hormuz. Now, in the act of most, the most brilliant comic timing, Donald Trump then came in and before the press conference announced that the Strait of Hormuz was already open. Problem solved. Now I can hear you saying, but will we heard from Iranian state media today that the Strait was closed again? Well, the coalition of the unwilling may be useful, but unfortunately part of the grand plan from Starmer and Macron is that their initiatives will only take place after a lasting ceasefire has been implemented. In other words, once the US have actually sorted everything out, the UK will come in and see sweep a few mines. They will escort the odd oil tanker with whatever clapped out naval vessels the country has left. They will implement monitoring systems, whatever that means. In order to courageously monitor the situation. Ladies and gentlemen, much like my acting, this is performative nonsense. This is once again, an example of a Labor Party and an example of European leadership which is more focused on the press conference conference than actually solving really hard problems. And the reality is there's a lot that the UK government could have done, whether it be increased defence spending, whether it be actually taking a stronger moral position against the Iranian regime at the risk of alienating the Islamic voter base in this country. And the sad reality is this is a government that isn't willing to do any of that. This is a government which is interested in performative politics. And you hear that every time. You hear about sex toys in Parliament, or you hear about tough words on immigration at expense of tough actions, or you hear about fury when it comes to Mandelson without any of the accountability associated with that fury. I just wish for once in this country under this labor government, we would actually get some political courage as opposed to the sorts of zoom meetings and press conferences that we now see that aren't followed by any sort of substantive action.
Chip
I mean, they just take the piss out of him 24 7. And, yeah, I mean, it's all for show. Like, this is. This is right here. He goes to Paris for a zoom meeting. What? I mean, just to shake hands, be on television. Look, I'm doing something. I remember when Trump came out and said, you know, he reopened it. He goes, yeah, we haven't. We have an agreement. Who's we? Who's this we? We have an agreement in place. Somebody posted this right underneath that video, and they said, once you see it, you can't unsee it. That's the dude from Toy Story right there. Yeah, kind of looks like that. He looks like more like Mr. Potato Head. He's such just. What a week. What a weak human being. My God, Macron, the whole lot. Mertz, McCroney. She really surprised me. I really thought. I really thought she was the last fighter, you know, because. But no, it turns out, no, not at all. She's not the last fighter. Jeff, I thought you'd want to see this video. This is Mandami, this week, given one of his. One of his usual soul speeches. But listen what he says about the grocery store.
Mayor Eric Adams
Listen to this immense honor it is to be your mayor. 102 days ago, we stood together at the dawn of a new era. Across the five boroughs, New Yorkers waited to see if a city hall powered by the people could truly govern for the people. Talking about, I know there Are many who use socialist as a dirty word something to be ashamed of? It is socialists might be able to win a campaign, they said, but we could never advance an agenda. This evening I am proud to make three transformative announcements.
Chip
Now, Jeff, this is what he's super excited about. All right. Was it the free buses you promised? No buses went up a dollar. Was it the rent control? No. Was it reducing taxes? No, he raised tax. He wants to raise tax and tax the risk. So what are these three transformative things? I'm going to get your opinion after this.
Mayor Eric Adams
First, we promised New Yorkers that we would create a network of five city owned grocery stores, one in each borough. And the first, first one will open next year. We will containerize all trash at all residential properties across the five boroughs.
Chip
Did you hear that, Jeff?
Jeff
So I hate this.
Chip
I hate to be the bearer bad news, but every city in America has containerized trash except for New York City, where they throw the stack the bags out on top of each other with a stench.
Jeff
It's crazy.
Chip
That's not the agenda that got you elected. Oh, no, no, no. Not that agenda. No, no, Chad, you're wrong. But yeah, it's not that agenda. And they're super excited because they're gonna look at the signs. Put a lid on it. Oh, my God. This is transformative. You mean every other city has this except for New York City? My God, dude. And the first. He said the first grocery store is opening next year. What a disaster that's going to be. He just says they're city owned. Right? There's nothing. What's special about them?
Jeff
Yeah, nothing.
Chip
Why is the city getting in the B grocery chain business?
Jeff
They shouldn't, I mean none of it. They already had that reflection on all the pricing is going to be equal, maybe a little lower or higher.
Chip
So what do you think the blowback's going to be when they actually open it? You think people have expectations of like.
Jeff
I don't think anyone cost. I think, I think these, these people are so low IQ at this point in New York City that they don't care. I think there's, there's a, there's something wrong with people in New York City. Cool city, love going there. But just overall they live in a different world. They don't live in reality. Every, all the prices are sky high. Just the flow. I mean there's just there, there's, there's kind of an electricity when you go over there and they're losing, you know, they're losing that. I mean, that, what you Know that that magnetic effect that when you go, that attracts you to go to New York City, I think is just disappearing and it's being replaced by people like that, people that elected, people like that. The others kind of sat back a little bit, quiet. I mean, I could be completely off base and mistaken about this, but you don't elect fools like this into office. If you're not, you know, kind of warped a little bit, you know, mentality wise, you know, this isn't going to work. You've suffered all these years, you know that. And, and we've seen where New York City was, what Rudy Giuliani was able to do when he cleaned up the city, brought it to its peak everywhere. And we've seen what's happened to it since then, you know, since he, he has been out of mayorship. And now you're going to bring this in. It just, it is, is so irrational and you want free stuff when nobody actually gives free stuff. It's, it's so absurd, you know, that these people are just, just like you said, you got to ratchet up the pain to, to the highest possible level for these people.
Chip
Vince Capisi says Mandani and Hokul are completely useless. Yeah, I agree with that. The supermarket will be rated in New York in 10 minutes. This is a good one. Mark Smithson says the only items not sold at New York City stores would be school supplies, work boots, condoms, and Father's Day cards.
Jeff
Oh, my God.
Chip
Probably food also. I would think food wouldn't be available.
Jeff
That's right.
Chip
We have everything else. No school supplies. So good luck with that. Work boots, Father's Day cards, probably Mother's Day cards. I don't even know. They don't know what a woman is either. So that might be another issue. That might be another one. How about this one? Now they need 1 million trash cans and a truck capable people usable. Blasio. Remember de Blasio? He ran the city into the ground. Yeah, he was rough. Can 95 mass 70 off in New York City stores. Yeah, I wouldn't doubt that at all. Let's watch the rest of this dumb
Mayor Eric Adams
thing across the five boroughs. Together with Governor Hochul, we will speed up buses by up to 20% along 45 priority corridors.
Jeff
What does that mean?
Chip
What does that mean, Jeff?
Jeff
How do you speed UP buses by 20%?
Chip
I don't understand what he said. Are they going to break the. Are they allowed to break the, you know, the. Are they going to be speeding? I mean, what does that mean? That 20 you got, you Were going to get the buses for free. Now they're like, yeah, we're going to speed them up 20, 20 faster. How is that measurable? How do you measure if it's faster? How do you know? How do you know if you accomplish that? Do we, are we gonna know or is he just gonna go on? We've already sped the buses up 20%. How do you know? Who knows?
Jeff
There's a way they can, they can, they can time the arrival from, from bus stop to bus stop. You can track that, you can go back and analyze it. But how are you going to move right now? You leave point A and you want to get to destination point B. Traffic is the traffic. Nothing has changed on the ground. How do you then people get on the bus, they get off the bus, what are you changing? That's going to speed you up by 20%.
Chip
You're not going to stop as long open the bus, three people get on, three people get off and boom, close the door and move on. That's like, how are you going to speed the buses up by 20%? This lady's so happy, she can't believe it. She's already forgot. 90 days have gone by and she's already forgotten the fact that they were supposed to be free buses. And she's not even mad that they went up $1. Not even mad. Nothing.
Jeff
Oh, nothing. This is how dumb they are.
Chip
Give buses, transponders to time traffic lights. Well, there you go. Citizens will be pushed off the subway platforms 20% faster. That's sad. But it's, but it might be close to being true.
Jeff
That could happen.
Chip
How excited she is. This guy really loves to see himself. He loves these videos. Positioned as the big hero.
Mayor Eric Adams
I've priority corridors. Government is a series of choices and socialism is the choice to fight for every New Yorker to extend democracy from the ballot.
Chip
Who wrote this, Joe.
Mayor Eric Adams
To the rest of our lives where government is not too busy, not too self important, not too mired in paperwork to fix the problems of this city. No matter their.
Chip
He's creating the problems in the city. He's not fixing anything.
Jeff
But that's, that's step one. Create the problems, they suffer with the problems, you bring the solution. They're like, oh my God, he just sped the buses up by 20%. Oh, we're paying a dollar more. Meanwhile, he's doing none of that. But, but that's okay. They want to believe what they want to believe.
Chip
If you think about how hard that's going to be to do, like quantifiably, it's like, if you go from one bus stop to the other bus stop, it takes 10, 10 minutes. You're now saying it's going to take eight minutes. Okay. It's like, how. And how are you gonna know if it's done? Like, we sped them up. Everyone's yay, we sped them up.
Jeff
Big number. Yeah.
Chip
It's not quantifiable. It's not measurable. So you just say he did it and everyone's excited that he did it.
Jeff
Trains, but trains are different than buses. The only impact that a train has is that you're at the station for 60 seconds or you're there for 45 seconds and you can speed it up. It comes in, it goes out. That's it. Buses. There's all these other factors involved. People running to catch the bus, the bus driver waiting, the traffic, somebody running in front of the bus. I mean, there's all these factors that. Driving through a city that a train doesn't have, Anybody can speed up the train system as long as you have the. The management that's actually monitoring the flow of the trains. Buses, completely separate situation. Yeah.
Chip
I gotta say, the. The. When I was in Japan, the. The. Shri. Constant. The. The. The bullet train, Jeff. It is a. It is something to behold. This thing pulls in, doors open, the doors open and like all of a sudden this cleaning crew descends on this thing like locusts out of nowhere. They got these, like, special suits on. Like, they're all like, you know, the floor and they're like running around. They get off. Literally. If you do not get on within like, the first minute you're done, doors closed, that thing's gone. It's crazy. That's how you're gonna have to do the buses. You got to just like open the doors, run out the bus, run on the bus. Poor lady with the walker trying to get on the bus. Bus goes by. Sorry. That's how you speed the buses up.
Jeff
Someone's putting their bike on the rack, someone's getting their wheelchair on the bus. All the variables that happen every single day on buses. And now they're going to speed it up by point. Why even promise? Why is that a factor in people's life? You're going to speed it up by 20%. You're taking a bus, you know. You know, if it, if the. If it's like in Detroit, where buses don't show up, that's a problem.
Chip
Right.
Jeff
And you have. Right, but. Or they show up an hour late or, you know, they're. They're never on time. Right. It's a different situation here. The buses are flowing in New York City. Not the biggest issue to. To tackle, but like you, to your point, you make an arbitrary number, and then they can come out like, hey, we raised it a dollar, so they're covering that up. Like you said, bring in the 20 savings people. No one's gonna go back and monitor it. It's. It's the most ridiculous thing. It is so stupid.
Chip
It's a good one. This one says, I'm having a hard time figuring out why these useless people even need a bus. They don't go to work. Detroit mugger mover. That's right, the people mover. Well, he's not done. He's got to get some more propaganda marks in here. So that was like the three things. So they'll just say that they did it. That's how they're gonna say when they open the first grocery store. Well, let's see how exciting that is. Let's see what happens a week later when chaos sets in. And it's gonna be completely not talked about.
Mayor Eric Adams
We will not be ashamed of using government to fight for the many, not simply the few.
Chip
There's Bernie. What you guys are doing here in New York City is providing hope and inspiration not only to people all across
Jeff
our country, but honestly, all across the world.
Chip
So hope and change didn't work so well, so now they're using hope, inspiration.
Mayor Eric Adams
We hold a mighty responsibility, not just to govern with honesty and integrity, not just to deliver relentless improvement.
Chip
This is insane, Joe.
Jeff
Are there maybe 100 people in that room? A thousand people.
Mayor Eric Adams
Government is working.
Chip
Are they paid actors?
Jeff
The same people lie before us.
Mayor Eric Adams
New York. They don't seem like is there to be done together.
Jeff
People don't do it.
Mayor Eric Adams
Let's go after it and get it.
Jeff
Nobody's acting like this excuse. Nobody act like it.
Chip
No, I think they're paid actors, Jeff.
Jeff
That's what they must be. They're all shills.
Chip
They have to be shills for something. They're just absolutely. They're just insane, Jeff. Mom D is nothing like nothing at all. Not yet.
Jeff
To be fair with Detroit, because of the. The Quick and Loans guy, what is it called rocket mortgage now? But because of that, the amount of investment that went into downtown Detroit when we were there and we went to the. To the Indy car down downtown, it moved from Belle Isle to downtown, and we parked at a parking lot over near Wayne State University, hopped on. Hopped on the street train, took a street train downtown as far as it would go. Get out and walk through town and the buildings that you pass when you go by where all the sport complexes are and the Google offices and all that. There's been so much done in Detroit. I mean, it's really, it's impressive based on what it was like a number of years ago.
Chip
Oh, yeah. It was wrong and it was a complete show.
Jeff
You could take the people mover and people. Anytime I'd have people visit, the first thing I would do, say, hey, we're going downtown, taking you on the people mover. You're never going to believe this.
Chip
People mugger mover, you mean?
Jeff
And you take the people mover around town and you'd go buy buildings that had no windows. Like literally big skyscraper scraper type buildings, every one of them empty.
Chip
Well, it was just a GM building there for years. That was like the only on the water, on the, you know, waterfront there. I went to a wedding. It was a wedding. I guess there's a venue, there's a restaurant there and there's a, a wedding they have out and back by the, by the river. Jeff, you remember the Canadian lady we had on that works in the oil business, right?
Jeff
Yeah.
Chip
Remember her? Well, she's back and this time she's not feuding with the uk, she's feuding with the Netherlands.
Diana Techich
Here we go, you guys. I just got kicked out of the country of the Netherlands. Well, actually my ex account did after making that viral video of making fun of Europeans and saying that they're a bunch of sensitive and that they don't have freedom of speech. And a bunch of like European men from different countries were like, we have freedom of speech.
Chip
Right.
Diana Techich
And then you reported my content and now it's banned in the Netherlands. And I think it's hilarious because I'm about to like do to the Netherlands what we do to in the oil patch. But I just wanted to show you guys the email I got.
Chip
Now what I like is she's wearing orange because that's the, that's the color, right? So she's all prepared. She knows. She knows as I'm surprised she didn't put another shirt up.
Diana Techich
Okay, we have received a complaint regarding your account for the following content and then in each one it says content in Netherlands specifically for the following legal grounds, illegal or harmful speech. One of the reports was because I called someone a pussy. I am pretty sure that you guys have no freedom of speech. And I'm pretty sure the country of the Netherlands watched that video and they started crying because they're like, mommy, my pussy hurts. Anyway, in the oil field, we give people hurt feeling reports, and we usually staple like a Starbucks or McDonald's application onto it. Because if you're gonna be a in the oil field, you might as well go and work in, like, customer service. So this is the report I'm giving to the country of the Netherlands. Because you're a bunch of pussies. It's called the hurt feelings report. And I'm gonna help you out with filling it out just in case you guys are too sensitive. Which ear were words of hurtfulness spoken into? Just put both. Is there permanent feeling damage? Yes, Emotional damage. Did you need a tissue for those tears? I think you guys needed a whole ass package. Reasons for filing this report, Pre circle yes or no. You know, I just circle all of them because you guys are a bunch of thin skinned pussies. Name of real man circle out man or cross out man. Put woman who hurt your sensitive feelings. That would be me. My name is Diana Techich. And if you feel that you need someone to hug, go home to mommy and let her hug you and change your diaper. If you feel as though. If you feel as though need to speak to someone to soothe you, please call this number 1-800-Crybabies, or 1888 Sis Girl. And then you guys can fill out the rest. Girly man who filed the report, Just put the entire country of the Netherlands and then sign your name there. I was so right about you guys. You guys are such a bunch of sensitive, like little sissies.
Chip
She's sure right. She's laughing. That's fantastic, Jeff. I really did love that. She's fantastic. She comes up on my feet all the time now. I. I actually love it. I want to show you this one, but I got. I got a sense of the sound because we'll get busted for the sound on this one. But, Jeff, they had. In Paris Week, they had Fashion Week. So this is what they had. This is. This is the show to show modesty. And if you're already thinking what I'm thinking, you already know where this is going. This is the fashion show in Paris to show off modesty. Here we go. There you go. Fashion Week. They're all wearing hijabs, but fashionable ones, Jeff. There's one in all black. It looks like a giant tent. There's another one that looks the same in a different color with a couple beads on them. There you go. Oh, no head covering. What's going on? This is to show modesty, Jeff. This is what it's all about. Modesty covered from Head to toe. I'm surprised they're not wearing gloves.
Jeff
Is that what this is? Victorian era? This is out of control.
Chip
No, no, this is all. This is all. This is all sharia law outfits here. Of course, this is what you can wear if you're shri or law. Of course they don't have the head scarves on. That was the only. That was only the head. You know, the departure from it. My God. I thought, holy cow, what's going on there? It's kind of incredible, really, when you think about it.
Jeff
Out of control. That's what we get. So this up. This was forwarded on. You seen this one? Hyenas.
Chip
You can't play this because of the sound movie. Oh, it's the greatest. It's the greatest thing ever from. I forgot what movie this is from, but it's the greatest one. But it's a.
Diana Techich
It's.
Chip
It's out of a movie excerpt.
Jeff
Yep. But we'll turn that down. But we're basically going through and showing all the different political representatives from the Democrats. There's.
Chip
So it should be common use, like you're showing it as a new story, but then they. They ding you for it.
Jeff
There'll be consequences for those who push foreign interference hoaxes. The hammers of justice is coming. And there's Trump. The lion has to show the jackals who he is. And that's it. And I love it. So Elon Musk put that, sent that out, and then Trump re posted. Was very cool. A lot of stuff going on.
Chip
It was in the film Pool Hall Junkies, and it was by Christopher Walken. Let me see if I can get the text for that. Text. Yeah, because that's something we'll get dinged for.
Jeff
Yeah, we will.
Chip
Here it is. Okay, so I'll put this up. We'll just have to. We'll just have to do the audio version, this version of it, which is.
Jeff
Then there's this here.
Chip
Here it is right here. So let's do. Here we go. Let's. Let's share this. And I'll just read what. You guys have probably heard this before, but it is fantastic. It's especially fantastic, that video. And it kind of shows. This is the lion by Christopher Walken. You got this lion. He's the king of the jungle. Huge main out to here. He's laying under a tree the middle of Africa. He's so big. It's so hot. He doesn't want to move. Now the little lions calm. They start messing with him. Biting his tail, biting his ears. He doesn't do anything. The lioness, she starts messing with him, coming over, making trouble. Still nothing. Now the other animals, they notice this. They start to move in the jackals, hyenas, they're barking at him, laughing at him. They nip at his toes. They eat the food that's in his domain. They do this and they get closer and closer, bolder and bolder, till one day that lion gets up and tears the out of everybody. Runs like the wind, eats everything in his path. Because every once in a while, the lion has to show the Jackals who he is. And that was brilliantly composed against Trump. And he's showing the jackals right now. He's showing them Jeff coming after him. He's coming out. I wonder if we can show this video, see if there's anything. Let me know if there's anything bad in this video.
Jeff
I think we played this yesterday. I don't dinged on it.
Chip
It's a trumpsters.
JD Meme
The world is mine. We'll just get back. You talked all.
Chip
Did you play this after I dropped off?
Jeff
Off?
Chip
Yeah, yeah. Okay, we're good.
Jeff
I might want to play play it
Chip
again because I dropped off.
JD Meme
So you got clap? Yeah, I told us gone I'm the dawn big fish in a small pond now these pups went up on my hook as I cooked Cause I took the straight not in shook dummies whole day breath they wanted this. We make them crispy fry them up like cappers from the Mississippi leader unseen just a lip dick dancing queen with see you women it up Noah covered up Bow down before your bridges all fall the seven special forces running up on your peas we on the seas getting the Chinese on their knees Making sure please before any act hard will the rewind my part fool and bow down when I come to your town Bow down when a Persian bound Bow down bro I drop a crave or two Bow down now to the dog who's a greater than you
Chip
Rubio looks tough, huh? JD Meme's getting old. I have to admit, the whole JD thing, him being a fat and curly hair, it's just. It's old. Get rid of it. Enough already. It's just funny. Haha goofy. But to keep it going, it's just not good. That's it, Jeff. That's all we got today. What do you think about that ending on time?
Jeff
Before we wrap up, tell me how you take somebody like. Like this? This guy has 342,000 followers.
Chip
Okay.
Jeff
Claims to be defi researcher. Not financial advice or anything like that. Warning tomorrow will be the worst day of 26. 99% of people will lose everything. Iran just rejected all negotiations with the U.S. the peace deal was officially canceled. The straight of farmers is closed again. When the market opens Monday, this won't be just another dip you can buy. Stocks will collapse, metal will dump. Crypto will take the hardest hit. Insiders are already selling. They're not taking profits. They're building cash position because something deeper is starting to break. The dollar is weakened in real time. This is not a one day shock. This is pressure building across multiple fronts at the same time. And now another layer. The US Iran deal is officially dead. After two weeks of negotiation, Iran walked away and rejected the terms. That changes everything. Because when diplomacy fails, uncertainty becomes immediate. And markets don't price possibility, they price escalation. There are only a few ways this plays out from here. Now if you read all the way through that you're like I think you have zero credibility at this point. Like what in the world is this guy even talking about? Then the soft outcome. Back channel talks resume, tensions cool. Markets stabilize after initial volatility. So now he's gonna. All these different points. Like this is just like the chaos. Like who writes like this? Like all of this stuff. It just, it, it just.
Chip
Well, I'll tell you Jeff, let me remove that. This is where the guy's from Europe. Oh, shocker.
Jeff
What do you know?
Chip
Shocker. No, we're all shocked. I like to ever since. Yeah, it may not be accurate. He's probably using a vpn. He's probably not in Europe. We're probably in. He's probably state sponsored propaganda is what it is.
Jeff
I'm sure it is.
Chip
Yeah, it was everything. Yeah, we'll discuss what happens after tomorrow. Nothing.
Jeff
Thousand followers. 342000
Chip
bunch of losers about this account. Ox nobler. What a douche.
Jeff
Just the analysis of it. You look, you read through this analysis. Tomorrow. It's all happening tomorrow. Oh my God.
Chip
Did you see this? Here's the community note. Similar warnings for this account. Predicted markets crash on April 6th. April 13th due to u. S. Iran tensions did not materialize. The major indices rising on those days. Video depicts fictional future S P charts.
Jeff
Right.
Chip
So gave two other warnings and yeah,
Jeff
nobody comes at it again. It's just it gets old.
Chip
She seems to be a bitcoin maxi so that tells you a lot. That tells you everything you need to know. Well guys, we'll be back on. We'll be back on Wednesday night. Hope you guys have a good one. Jeff you want to say anything before you get out of here? Frost alert. It's too late for frost. Almost spring already. Damn it.
Jeff
How could there be a frost alert?
Chip
Well, it's Detroit. Let's see.
Jeff
I was at the beach today. I don't know.
Chip
Insane.
Jeff
What's in Detroit? 39 degrees.
Chip
Whoa. No wonder it's frost load. Yikes.
Jeff
Monday, a low of 29.
Chip
What? Yeah.
Jeff
And then Tuesday.
Chip
No, to me.
Jeff
Yeah. I have 68 freeze warning. That's insane.
Chip
I remember when I lived in Detroit, you could count. You. You had to figure out which were the four good weekends. There was four of them all summer.
Jeff
Yep.
Chip
Sometimes it happened in June. Sometimes you got two in June, one in July, one in August. That was it. Rest were rain. Shitty, cloudy, nasty, horrible. Get four weekends after living there for four years, I calculated it's four, sometimes five, you get an extra one. Four weekends. That's it on that. Like, where Saturday's not ruined, but Sunday's good. And, like, the whole weekend from Friday to Monday is great. You know what always happens when you have the shitty weekend? The most gorgeous day ever is always on Monday. That's how it works.
Jeff
And you're indoors all day. When it's shitty, it's horrible. That'll be raining all day. It's not like. Not like Florida rain where it moves around there. It's like rains all weekend.
Chip
Yeah. It's torrential downpour. Then an hour later, you forgot to rain. Everything's sunny, beautiful grasses, happy. Everyone's plants are happy.
Jeff
Yeah.
Chip
All right.
Jeff
So true.
Chip
So, so freaking true. Four weekends. That's it. That's it back here.
Jeff
Wednesday, when the weather's nice and warm in Detroit. Wednesday, it's gonna be a low of 47, a high of 68. In case anybody.
Chip
It's almost. It's knocking on 70. Knock, knock, knock on 70s door.
Jeff
That's Thursday. Thursday, there's a high of 71 in
Chip
D.C. you know, when you live in Florida, Jeff, the only time you really look at the weather is if a hurricane's coming. Otherwise, you know, it's just like. It's. You know, and. And then people be like, oh, it's in the middle of winter, like, like in December or January. A new low. What is it going to be? It's gonna be 48 tonight.
Dilly Meme Team
48.
Chip
My God, it's going on to 48 degrees. I can't take it too much.
Jeff
Closing statement. Mandami and all the useless stuff. That's. Good night all.
Chip
That's a great. On that note, thank you. And Good night. Perfect way to end it. See you guys on the next one. Chip and Jeff. Oh, Psych. Ready?
Jeff
For real?
Chip
For real.
Jeff
Are you down with otc?
Chip
Please, like, subscribe and click the bell
Jeff
to be notified when the next video drops it.
This episode dives into the recent $280 million exploit in the DeFi space, specifically affecting cross-chain protocols and lending platforms. The hosts analyze how the incident unfolded, discuss systemic risks in DeFi versus the deliberate design of XRP and its ledger, and debate whether events like these are eroding trust among institutions and retail investors. The conversation broadens into practical lessons for blockchain protocols and the real-world importance of robust, transparent design choices, peppered with lively banter and commentary on financial markets, cities, and politics.
“This $280 million loss isn’t just another headline. It exposes a deeper issue—how these systems are designed. It’s not just that money was lost; it’s how it was allowed to happen in the first place.”
— Chip [02:00]
“Over-collateralized loans for anonymous borrowing... That’s risky, and borrowers and lenders need to know each other. You need to assess the risk, the screening, all that.”
— Chip [03:05]
“It triggered a full blown liquidity crisis... Aave’s ETH pool just hit 100% utilization. That means one thing: There’s almost no ETH left to withdraw. This is the biggest DeFi exploit of 2026 — and we’re only in April!”
— Chip [06:09]
“Flare, as a precautionary measure, is pausing FXRP cross-network bridging... That’s a smart thing.”
— Jeff [12:41]
“Crypto as a brand is really cooked at this point. Exploit after exploit, people are exhausted... Blockchain must become invisible. Low risk, DeFi OPSEC insurance more important than ever.”
— Panos (read by Chip) [15:13]
The hosts maintain their signature balance of technical rigor, skepticism, and colloquial wit. There’s a clear bent toward substance-over-hype, analyzed with both industry veteran insight and accessible analogies for newcomers. Their tone is irreverent and at times caustic, but anchored in a deep knowledge of DeFi mechanics and broader blockchain practice.
This episode spotlights a major DeFi exploit that lays bare systemic risks in heavily interconnected protocols and the limits of automated defenses. The hosts argue XRP’s careful, “boring” design is inherently more robust than many trendy, cross-chain DeFi applications. They stress the need for protocols to prioritize safety, transparency, and simplicity—especially as retail fatigue and institutional caution set in. Ultimately, the episode is a rallying cry for a reset in both technology and messaging: focus on what actually works, and stop chasing complexity for its own sake.
For more analysis and opinions on crypto, watch or listen to the full episode of On The Chain.