Banks Panic as Kraken Hits the Fed | Trump Was Right

Summary

On The Chain – Episode Summary

Podcast: On The Chain (OTC)
Episode: Banks Panic as Kraken Hits the Fed | Trump Was Right
Date: March 5, 2026
Hosts: Jeff and Chip

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Episode Overview

This episode tackles a seismic shift in the U.S. financial landscape: Kraken, a major digital asset company, has gained direct access to the Federal Reserve payment system, becoming the first crypto-native institution to do so. The hosts analyze the implications for banks, the evolving relationship between crypto and traditional finance, the political narratives at stake (especially with the Genius Act and Clarity Act), and broader geopolitical ramifications. They highlight how policies and rhetoric once dismissed by establishment figures—especially those aligned with Donald Trump—are now being quietly adopted.

The episode weaves together crypto developments, U.S. and global political trends, and the ongoing culture war between traditional financial powerhouses and the digital asset ecosystem, all delivered in OTC’s signature no-hype, irreverent, and community-driven style.

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Key Discussion Points & Insights

1. Kraken’s Access to the Fed: A Paradigm Shift

• [00:00–04:30] The show opens by highlighting the historic move: Kraken Financial is granted a Federal Reserve master account.
  • Jeff: "For the first time in modern history, a crypto native institution is moving directly toward the very heart of the U.S. banking system." (00:23)
  • Chip: “When crypto begins interacting directly with the financial system, everything changes... it’s about the architecture of money.” (00:57)
• The hosts argue this alters the financial landscape, undermining the banks’ monopoly over payment rails and setting up regulatory battles.

2. Regulatory Turning Point – The Genius and Clarity Acts

• [01:35–04:00 & 14:14–16:06] Discussion on pivotal legislation:
  • Genius Act: Already passed; clarifies some aspects of digital asset regulation.
  • Clarity Act: Still pending; crucial for comprehensive crypto regulatory clarity.
  • The acts could “reshape the crypto industry” and “change the entire crypto market structure overnight.”
  • Chip: "The whole point of this bill is to create regulation for crypto… They want to compare a bank to an exchange when they're not even closely related at all." (14:14)
• Banks’ lobbying against these acts is dissected—especially their fear of losing yield and deposit monopoly.

3. Banking Establishment Panic & Jamie Dimon's Comments

• [09:49–16:06]
  • The hosts play and critique Jamie Dimon’s comments on regulating stablecoin rewards as interest, arguing he's defending legacy systems and conflating banking and crypto exchanges.
  • Jamie Dimon: “If you want to be a bank, become a bank… it can’t be you have these people doing one thing, you know, without any regulation like that, these people do another. And if you do do that, the public will pay. It will get bad.” (11:00)
  • OTC points out the hypocrisy, recites JP Morgan’s latest AML fines, and predicts increased competition and disruption.
  • Quote: "Kraken said, ‘Challenge accepted.’ Kraken Financial has been granted a Federal Reserve master account, making us the first digital asset bank with direct access to the US Payment system." (Chip, 14:42)

4. The End of Not Your Keys, Not Your Crypto?

• [17:23–21:03]
  • The mainstream hesitance toward full self-custody is discussed.
  • Banks may eventually offer crypto custody, FDIC insurance, and customer support, which OTC considers necessary for mainstream adoption.
  • Physical storage solutions have supply chain risks (chiefly, their origin in China).

5. Political Realignment & Trump’s Crypto Policy

• [24:48–26:37 & throughout]
  • Trump’s strong support for pro-crypto regulations is outlined, with direct quotes from both him and Eric Trump:
    • Donald Trump: “The Genius act is being threatened and undermined by the banks and that’s unacceptable. We’re not going to allow it… Americans should earn more on their money.” (24:48)
    • Eric Trump: “Big banks… have held a monopoly and screwed their customers for years… now doing everything they can to block the crypto industry from offering real benefits… they are in mass panic.” (22:13)
  • Ripple CEO Brad Garlinghouse also weighs in, calling Trump’s statement “an extremely pointed message.”

6. Bank Profits vs. Customer Yields

• [26:55–30:41]
  • Banks’ resistance to higher crypto yields is called anti-consumer.
  • Details on how banks enjoy huge profits from low deposit rates while lobbying to block competition.
  • OTC describes these efforts as a last-ditch attempt by the banking cartel to hold power as their influence fades.

7. States Lifting Crypto Barriers

• [30:41–32:28]
  • Indiana signs a law allowing crypto in retirement accounts after a Trump executive order.
  • OTC predicts other states will follow, increasing mainstream investment in real crypto assets rather than just ETFs.

8. Privacy, Fungibility, and Bitcoin’s Central Bank Prospects

• [32:28–36:05]
  • Chamath Palihapitiya’s quote: “There’s a structural failing in Bitcoin... it is not fungible, and it is not private. So it can never be a structural holding of a central bank.” (32:28)
  • Discussion centers on whether lack of privacy and fungibility will curb Bitcoin's adoption by central banks, though it serves well for individuals and corporations.

9. Narrative Collapse, Geopolitics & Global Power

• [36:35–57:41]
  • The show takes a hard turn into global politics, focusing on changing alliances and the double standards exhibited by Western leadership.
  • Chip: “What we’re watching is narratives are starting to collapse because when people in the streets are celebrating freedom while the elites are arguing online... it exposes just how incredibly disconnected the conversation has become.” (03:44)
  • Iran, Saudi Arabia, and shifting support in the Middle East are discussed in the light of recent regime change efforts—pointing to a “reality forcing that shift.”

10. Politicians, Memes & Public Sentiment

• [49:02–59:25]
  • The episode is peppered with irreverent references, political memes, and takedowns of U.S. and European leadership.
  • Notable: UK’s lack of support for the US/Israel/Iran action, Spain caving to trade embargoes, and the UK news presenter’s on-air rant about British weakness.

11. Congressional Showdowns: Tim Walz in the Hot Seat

• [61:20–71:51]
  • Minnesota Governor Tim Walz is grilled in Congress for massive increases in autism spending and alleged oversight failures in public welfare programs.
  • Nancy Mace: “Do you know what a woman is?... You can’t define what fraud is; you can’t even define what a woman is. You can’t define fraud.” (64:36)
  • “It’s either criminal negligence or wild incompetence… The only way fraud can reach this scale is with people in power colluding, collaborating, and willfully blinding themselves.” (Congressional questioning, 74:24)

12. Show Community & Memorable Moments

• [05:45–09:15 & throughout]
  • The hosts highlight audience engagement, YouTube comments (roasting a particularly ‘monotonous’ review), and analytics like global audience breakdowns.
  • Multiple segments dedicated to playful banter, sharing memes, and encouraging the community to comment/repost—reinforcing the community-first ethos.

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Notable Quotes & Memorable Moments

• “Challenge accepted. Kraken Financial has been granted a Federal Reserve master account, making us the first digital asset bank with direct access to the US Payment system.”
  – Kraken (Read by Chip) (14:42)
• “The Genius act is being threatened and undermined by the banks, and that’s unacceptable. We’re not going to allow it.”
  – Donald Trump (paraphrased by Chip) (24:48)
• “Decentralization is great, okay. But the problem with mainstream adoption is that’s going to be a tough nut to crack… At some point, [crypto] will be FDIC insured… and if something goes wrong, there’s someone you can call.”
  – Chip (18:52)
• “Big banks are in mass panic given they know they’re losing the digital finance race.”
  – Eric Trump (22:13)
• "This is not Winston Churchill we’re dealing with..."
  – Trump on the UK’s response (53:15)
• “There’s been billions stolen over seven plus years right under your nose... it’s either criminal negligence or wild incompetence.”
  – House Oversight (74:13)

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Timestamps for Important Segments

| Timestamp | Segment | Notes | |-------------|-----------------------------------------|---------------------------------------| | 00:00–04:30 | Kraken’s game-changing Fed access | Why banks are panicking; historic move| | 09:49–16:06 | Jamie Dimon, banks vs. crypto | Regulation, stablecoin rewards | | 17:23–21:03 | Not your keys, not your crypto | Mainstream custody and FDIC prospects | | 22:13 | Eric Trump on bank panic | Read by Jeff | | 24:48–26:37 | Donald Trump’s policy shift | Exposing bank resistance | | 32:28–34:04 | Chamath Palihapitiya on Bitcoin's limits| Fungibility & privacy for central banks| | 36:35–38:41 | Global political realignment | Iran, Saudi Arabia, shift of alliances| | 49:02–54:03 | Spain, UK & NATO defense policy | Leaders “fold” under pressure | | 61:20–71:51 | Congressional grilling of Tim Walz | Massive autism funding fraud, incompetence | | 54:03–57:44 | UK news presenter’s passionate rant | Critique of UK’s weak leadership |

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Tone & Language

• The discussion is candid, irreverent, informed, and heavy on opinion.
• “No hype, no BS” ethos; frequent sarcasm and meme references.
• Willingness to critique establishment figures left, right, and center.
• Audience engagement and community support are encouraged throughout.

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Summary Takeaways

• Kraken’s access to Federal Reserve rails is a genuine turning point—crypto is now embedded in the heart of the U.S. financial system.
• The Genius and Clarity Acts are at the center of a new political and financial showdown, with banks fighting hard to maintain their crumbling monopoly.
• Major political figures—including Trump and his son—now openly support pro-crypto, anti-bank policies once dismissed as fringe.
• Legacy financial institutions face new accountability for their profits, practices, and resistance to innovation.
• Geopolitics is in flux, with shifting alliances from the Middle East to Europe, and establishment narratives (in finance and politics) being upended.
• Community, open debate, and scrutiny (including congressional hearings) are at the core of this rapidly evolving landscape.

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For listeners, this episode delivers deep dives, current events, and fiery commentary on the collision of crypto, politics, legacy finance, and global dynamics—a must-catch for anyone tracking the new era of digital money and power.

Transcript

[Jeff]

Early welcome to on the chain. This is Jeff with co host Chip. What is going on? Chip, what's going on? Everybody out there in the on the chain community tell you what's going on tonight. Something big may have just shifted in the financial system. Banks are actually starting to panic. We've talked about this a lot. Which one comes first, crypto or the banks? Because for the first time in modern history, a crypto native institution is moving directly toward the very heart of the U. S. Banking system. And that company is Kraken, a digital asset company stepping into infrastructure that was once completely closed off to those crypto companies and manipulated and controlled by the banking industry. How about that? For years, the banking establishment mocked crypto. They attacked it. They said it would never be allowed anywhere near the financial rails. But tonight that narrative is starting to collapse.

[Chip]

Yeah. And when crypto begins interacting directly with the financial system, everything changes. That's because it's not just about trading digital assets anymore. It's about the architecture of money. And suddenly, all of a sudden, Washington is moving towards something. And the industry's been demanding for years regulatory clarity. The clarity act and the genius act could define how digital assets are treated in the United States. Of course, we know genius already passed Clarity. Not so clear so far. And that happens. The entire crypto market structure changes practically overnight.

[Jeff]

That's right. Which raises a very uncomfortable question for lots of people out there because for years, or at least this past year, Donald Trump has been warning about the banking system, about financial control, about the need to rethink how money and technology intersect, and really about the Federal Reserve at the, at the time where many people dismissed all these warnings, not just from Trump, but many in the crypto industry, actually the entire crypto industry. But now what we're starting to really look at is that maybe all these people are actually right. Maybe there is something that has to be shifted and changed as Kraken enters into the space.

[Chip]

Yeah. Meanwhile, around the world, we've seen something else happen. The same political class that spent years pushing the anti Trump narrative, now they're quietly starting to adopt many of the same policies they once so called rejected. Energy independence, border security, economic nationalism, financial sovereignty. Piece by piece, inch by inch, step by step, the agenda they fought becoming the agenda that they're implementing. Because reality, Jeff, is reality is really forcing that shift.

[Jeff]

That's right. And you can see that shift playing out on a global scale. In Iran, people are openly celebrating the possibility of freedom. They're praising Israel, praising Trump's stance against that regime. And calling for change in their country, while at the same time some of the voices in the west, whether it's in the United States or even in Europe and some of the European leadership are still attacking those movements and actually defending the status quo, which is pretty shocking. And you see some of the, the crypto bros, the social media influencers that really aren't that educated on what's happening and they very opinionated and letting everyone know what their opinions are, which is actually very dangerous because some of them have tens of thousands if not millions of followers and really they're not really not educated on this topic at all. And really the contrast is becoming hard to ignore, I'll tell you that.

[Chip]

Yeah, I mean, basically what we're watching is narratives are starting to collapse because when people in the streets are celebrating freedom while the elites are arguing online about the so called, you know, ideology, it exposes just how incredibly disconnected the conversation has become.

[Jeff]

Right. And tonight, just like every night, every show, we're going to break it all down and we're going to start by why the banks are actually starting to panic. What Kraken getting closer to the Fed really means, why the clarity act, which there's really not so much clarity on it as Chip had mentioned, and the genius act, which has to get through the Senate, could actually reshape the crypto industry. And why the political and financial narrative surrounding crypto may be changing faster than anybody expected. Tell you what, Chip, you ready to kick this thing off?

[Chip]

Welcome to on the Chain. Let's go. Welcome to on the Chain. Jeff, can we start the show off by putting one of our favorite accolades from the YouTube channel? You can find that one again post to put that in a thing. Let's just, let's workshop. That's. I mean, we read all of our comments that people leave on the YouTube channel and this one, sometimes they're just fantastic. They're just really great. I mean, this one here, Jeff and I were laughing for about five minutes. I, I don't really, I mean, it was great in a really fun way, but if you can put that in there. Guys, where are you coming in from? I see marathon is in the house. See. Good evening, Edwardsville, Ilia, India, Illinois. My God, I can't even see here. What's up, lads? John Page is saying, what's up lads? Coming in from the uk. Greetings from Hawthorne, Florida. Otc crypto. Oh, crypto. G's in the house. Thank you for the, thank you for the accolades of the music videos. A lot of fun to make morning, guys. Looks like Trump telling the banks to wine when their necks in regards to stablecoin. Hell yeah, they damn radar. Now we'll get into that

[Jeff]

comment. Are we talking about one from Bruce Lee's brother?

[Chip]

Yeah, yeah, that one. Can you put. Can you put it in a. In a. In a. What do you call it? A marker, A banner up on the. On the. So we can. So we can read it, copy and paste it. Put it into a banner. I'll put it up. If you can pull it up, that's fine. Let's go ahead and share it. But how about that? There you go. Yeah, zoom in on that a little

[Jeff]

bit on the wrong screen.

[Chip]

It's fantastic. I only wish Bruce. The guy that left the. Bruce Lee's brother. I almost wish that. That he had actually. Actually could be able to watch this, but he doesn't.

[Jeff]

He probably didn't watch any of it. But he said this is easily one of the most monotonous and uninspired on the extra Pl. It drains the room of energy rather than adding to it. Staring into the void sounds more stimulating than listening. So our comment was. They actually said the same thing about Bruce Lee's brother.

[Chip]

Even better. Even better. I know they try to wind you up on these things. It's like. Well, apparently it affected you in some way. You felt like you needed to leave a comment. So thank you for that. You liked it. You hated it. At least you left a comment. It's more than we get from people that actually like this show and actually watch it on a regular basis. They never comment. So the fact that you commented twice, bonus round for us. I mean, that's fantastic.

[Jeff]

There's John Page. I said on your show, I love watching your politics now. Your politics and policies are now being adopted.

[Chip]

Hell yeah, man. We've been talking about it for a while. I don't like. You either like it or you don't.

[Jeff]

And it's Australia. There you go.

[Chip]

And it's Australia. Yeah, listen, we. I mean, Australia is our second biggest audience. If you look at our, you know, our stats all the time now. It's. It sometimes is not on the. On the. On the. On the. What do you call it? The audio. Only one. We always get some weird one pops up in second. You're like. And. And it's like margin, like transitional, and then another one will be second for a while. And it's weird things like Mexico will pop up and it's like you never. We never see that anywhere else. So it's. It's really awkward the way that happens. But we'll get right on to the show. We got a lot of stuff to share today. Get right into it. We just like to share fun comments like that one Wheat to win. Put this up. He said, by far the most interesting stat about the XRP yield and Zaman Wallet and Flare networks product is the user base that comes back to open the app. So 24 hour unique users are up mildly at peak. He said 30 day unique users to save the one year normal, two year slightly up three year massive peak holders for two to three years are coming back. So look at this. Do do, do do crash. Boom. Look at that. I mean, we'd like to see that happen with our, our crypto portfolio.

[Jeff]

Right?

[Chip]

Hockey stick. But you know, it's funny. It's like people are hodlers and they're coming back, Jeff, for the yield. They're coming back like, oh, wait a minute, I can make. I can do something with this. I can actually earn yield. I mean, how remarkable is that?

[Jeff]

Time to start buying again.

[Chip]

Time to start buying once again. And then Zaman put this one up. Zomban said, everyone who never left, hello. Hello, everybody. That's us. That's you and us. That's both of us.

[Jeff]

All of us never left the zombie.

[Chip]

Yeah, just coming back 2026 is going to be a wild ride. We're bringing XRPL D5 back cheaper, more innovative, faster than ever. You get a trade on the XRP ledger like you've never traded before, right?

[Jeff]

Are the most interesting.

[Chip]

I gotta tell you, Jeff, this is the most. This must be the most uninspired show,

[Jeff]

the most monotonous show on the extra man.

[Chip]

You know, I've watched people get excited about the xrpl. I've been more excited watching Pay dry. I mean, that's all right, Jeff. Take this. Take this next one here.

[Jeff]

This next one up. Let's see what this one is.

[Chip]

Wait a minute, wait a minute.

[Jeff]

Put it up on the stage.

[Chip]

Well, do we want to play the video or do you want to. You want to read through it?

[Jeff]

Let's play the video.

[Chip]

Play the video and then we'll kind of workshop it from there.

[Jeff]

Because video, the video is fun.

[Chip]

He's just. Yeah, the video is kind of says it all. But getting back. So Jamie Dimon, of course, what does he have to say about the subject? Like, what is. He loves.

[Governor Tim Walz]

You know what?

[Jeff]

He, he probably loves litecoin.

[Chip]

Okay. Probably.

[Jeff]

He's a big. He's a big litecoin holder. Him and Charlie go Way back, I

[Chip]

would not even doubt that for a second. But JP Morgan CEO Jamie Dimon talking about the difference between banks and crypto exchanges

[Interviewer / Questioner]

clashed with Coinbase's Brian Armstrong over the Clarity act and specifically this idea of crypto exchanges, exchanges offering rewards for stablecoins. And Armstrong was on CNBC with Sarah Eisen a few weeks ago from Mar a Lago and he said there's a path forward for the market structure. Bill, that's a win, win outcome for everyone. How are you feeling about it right now?

[Jamie Dimon]

The banks feel strongly that there should be rewards are the same as interest and that you know, compromise would be

[Chip]

rewards are the same as interest rate. Okay, so he's trying to. Not really, but okay.

[Jamie Dimon]

That you could pay rewards on transactions, not balances if you are going to.

[Chip]

What, what does he talk about there, Jeff? He paid rewards on. Wait, what does he say? Transactions, transactions, balances. Of course you paid on balances and

[Jamie Dimon]

that, you know, a compromise would be that you could pay rewards on transactions, not balances. If you are going to be holding balances and paying interest, that's the bank. You should be regulated by a bank. So we've been firm one thing over here. Yes, but if you want to be a bank, become a bank, then you can do whatever you want under bank law. So I remind people, your viewers may not know banks have restrictions and requires FDIC insurance, aml, bsa. We have Community Responsibility act which means we have to open 25% of our business LMI. Neighbors have social requirements, we have liquidity requirements, capital clients transparency, reporting requirements, board requirements, governments requirements. If they want to be a bank, so be it. So what we base says level playing field by product. It can't be. You have these people doing one thing, you know, without any regulation like that, these people do another. And if you do do that, the public will pay. It will get bad. So I just. People should take a deep breath. What is you want? And we want competition. You know, we're actually one of the biggest users of blockchain and you know, and you know we created the JP Morgan deposit coin. We've moved money real time payment.

[Chip]

Jamie, you're going to be a bank or do you want to be an exchange? Stick to what? You know, stick to legacy garbage that

[Jamie Dimon]

you know, moving a lot of data now using blockchain. So we're in favor of competition but it's got to be fair and balanced.

[Interviewer / Commentator]

Level.

[Chip]

Well, he makes a number of errors there. Jeff, what are your thoughts on that?

[Jeff]

I think he's trying to, he he kind of sees what's getting ready to happen. And so what's interesting, you know, you want talk about, want to stay in the lane. In 2025, JP Morgan faced significant penalties, most notably a record 45 million euro or 52 and a half million dollar fine in November from Germany's Buffin for some systemic failures and anti money laundering processes. The bank was cited for delays in submitting suspicious transaction reports between October 21st and September 2022. So that's, that's one of the latest and you think about the total number of fines that these guys have, have racked up and he's trying to act, you know, kind of, he's obviously looking out for and concerned about the near future. You know, these acts pass and all of a sudden people are going to be getting, getting paid out interest and yield on their stable coin holdings. And now with Kraken moving up, you know, there's all these different intrigues that the banks are going to have to change banks, Banks have held on to their power and being the only player now all of a sudden not just, you know, different types of bank or different banks are going to be competing but now there's a whole new competition coming from crypto that's going to get some banking system in place to allow them to do everything they need and they're going to do it cheaper, more efficiently with less headcount and it's going to change the game and we're going to see the leverage of yield on stablecoin on crypto and on fiat currency. Right now JP Morgan, they've got fiat currency and people know through transparency chip, once it gets to the blockchain, people realize where they're, how the interest game is played. How much money are they if they hold it your money and they have a hold period of seven days, how much money are they earning on your money? And over that seven day period, you know, as they hold, there's, there's some real injury that's coming out on that.

[Chip]

Well, I mean also there's a couple other things he says that are, that are misguided in that video when he says, well just become a bag and they're regulated. Well no, the whole point of this bill is to create regulation for crypto. But the problem with all these guys, they can't, they can't let go of legacy stuff. They want to compare a bank to an exchange when they're not even, they're not closely related at all. You know, you're not, banks are paying 6, 8% yield.

[Jeff]

No.

[Chip]

So they're not related. The whole idea is that if you guys want to know if you're outside the United States, the Democrats get funded by the banks because they want to. They have their back. And. But so, so do a couple Rhinos, Republican in name only, Rhino. The Rhinos also are funded by the banks. The banking cartel is trying to create these PACs and put all this money in the reelection campaign so that they'll vote a certain way. The problem is that, like that, that's. That ship's already sailed. You might be able to slow it down for a while, but you're still going to have outflows. People are still going to learn what's going on. And when you sit there and say, well, become a bank. Well, you know who said. He said, okay, challenge accepted. Kraken said that. Kraken put this out, Jeff. A historic moment for crypto. Kraken Financial has been granted a Federal Reserve master account, making us the first digital asset bank with direct access to the US Payment system. A major step forward connecting crypto infrastructure with the core rails of global finance. So, you know, banks not turning into exchanges, not dealing with crypto, they want to leverage money the way they've always made money. And it's on the backs of. They don't think that you are smart enough or can figure out that you're getting a half percent interest. And you should be happy with that. So be happy with it, Jeff. Stop being a complainer.

[Jeff]

Well, I've got this. I've got this new video that kind of shines a little bit of light on what the banks might be going through here pretty soon.

[Chip]

Let's see what that looks like. Oh, here we go. It sounds like they're ready to have their moment.

[Jeff]

Oh, hang on a sec. They're about, they're about to have their moment. It's gonna be, it's gonna be great. I would love to see, you know, their moment, especially you put that Jamie Dimon commentary on, on replay. But I, I think this, this about says it all right about here.

[Chip]

Hey, hey, hey,

[Interviewer / Questioner]

hey.

[Chip]

What's up? No, no, no.

[Jeff]

Yeah, those.

[Chip]

Yeah. Well, he's currently in jail, so. There. That's the big connect guys. Didn't, didn't go so well for those guys, but it's almost as good as all the Microsoft guys dancing on stage. That was the most, one of the most embarrassing things.

[Jeff]

Texas420, no mention of people money being robbed by lead. You know, it's interesting because there was an X post on it chip And I talked about that at length and we've talked a lot about it here. That, and here's, here's the one narrative that gets passed around I don't know, for the past, I don't know how many years. Not your key, not your crypto, not your key, not your crypto. Well, how good is that doing for people that are getting wiped out? Whether it's, you know, the, the latest post that we saw involving the ledger and there's been other instances and then people come around say, well, it was how you accessed or maybe you approved something you didn't real realize and it was sitting, you know, who knows? Sitting, you know, kind of on the sidelines for months until it gets activated. Not your keys, not your crypto. But you know what, you lose your key, you lose your crypto. You know, it's as simple as that. Kraken is about to make the biggest move ever as they get into this, you know, into the Fed system also being able to secure cold storage your crypto on a centralized type platform where if you have a problem, you can actually pick up the phone and have a conversation with someone. Ship. I think this is the biggest issue that general mainstream media is going to have in getting into the crypto space is nobody wants to say not your key, not your crypto because they're afraid of losing it. What do you say?

[Chip]

Well, also too, I mean decentralization is great, okay. But the problem with mainstream adoption is that's going to be a tough nut to crack. What do I do? You get a thumb drive and it's like, you know, you either get one from China because that's where most of them come from. They're either based in Singapore, they're based somewhere. You know, they're all got ties. Every time Jeff and I investigate them, they're all go back to China. Right. So you know, there's a back door in there. Let's be honest. You don't think there's a back. I brought it up to some people who use a certain kind of alipols, right. China. And they go like, oh, I love my ball. Good. Because I'm sure it doesn't have a back door on that. I mean, I'm sure doesn't have any links or top course it right back to China. Most of them come from China. China. If you want to say it like Trump does, they all come from China. So you know, when, when banks wake up and can custody crypto, this is where they're going to make the money. They're Going to charge you a monthly fee to keep your crypto. At some point it's going to be FDIC insured. So you keep 250,000 in one bank. 250,000 and it's going to be insured. And if something goes wrong, there's somebody you can call. There's no clawbacks. Now most crypto, you, you make a mistake. You, you were ready to hit send, but your finger hit the keyboard, type the character and it sent it somewhere and you're like, well, sorry, can't get it back. That doesn't work. It can't work in a system, in a world where people are going to trust themselves over that. You know, I mean, ask Stefan Thomas, the ex, you know, the, the ex chief tech officer from Ripple who's out close to $500 million because, because he couldn't remember his passcode. I'm sure he knew what it was. And you know, and I have a scenario going on with me. I have a thousand and one to wallet and I was accessing it for, hadn't accessed it for a year. I'm like, I have no idea what, what it is. I've tried a million things. I don't get locked out like Stephen Thomas did, but he just is the whole thing, it's like it has to have mainstream adoption. You got to be able to do your crypto. You got to be able to hold it someplace where people can go. I mean, and what's cool is like, look at the, you know, know Coindesk is even writing about this. They became Kraken, became the first crypto exchange to gain access to the Federal Reserve core payments. I was actually shocked to see this. It almost felt like it came out of nowhere. Jeff. I was like, whoa, this is like

[Jeff]

a. I thought it was a Babylon Bee.

[Chip]

Yeah, well, you're like, come on, dude, ain't happening.

[Jeff]

What's going on here?

[Chip]

Take this one. This is, take this one from Patrick Witt. Patrick Witt sits on the President Council of Advisors for Digital Assets. But take this one, he's commenting on

[Jeff]

that Patrick Witt deceit here is that it is not pain. It is not the pain of yield on a balance per se that necessitates bank like regulations, but rather the lending out or rehypothecation of the dollars that made up the underlying balance. The Genius act explicitly forbids stablecoin issuers from doing the latter. Stable coins don't equal deposits.

[Chip]

There you go. And it's great to be drawing this contrast between, you know, legacy language. Like what Banks use versus what, what the reality of it is. And it's great that people are calling it out. I like this one here. The crypto meme guy put this one up.

[Jeff]

They, they just have no clue.

[Chip]

You got Trump, who's crypto holding up the banks, which is Jamie Dimon there by the seat of his pants doing give him the atomic wedgie over there. And then Eric Trump put this one out. Go ahead and read this one, Jeff.

[Jeff]

Here we go. This is from Eric Trump. The big banks, the very institutions that have held a monopoly and screwed their customers for years, offering near zero yields on retail money market accounts while crushing low balance accounts with exorbitant fees and now doing everything they can to block the crypto industry from offering real benefits, perks and rewards on their platforms. They are the greatest hypocrites of are and are in mass panic given they know they're losing the digital finance race. And that's what it's all about. They really tried, they tried pushing the digital dollar, the programmable USD. Nobody was going for it. You know, and it's interesting too, the fact that he thinks that if you deposit a stable coin, it's an actual or you move your stablecoin into your wallet, that it's a deposit even if it's cold stored, you know, by that, that banking entity, they have zero access to your stable coin, unlike your money. You put your money in their account, you transfer money over, they turn around, they lend it out. You know, they're, and they're doing short term loans. But now on the yield side, you know, it's interesting if you go into a platform and you can gain yield, you know, from it, it's also, you know, potentially going out, you know, from the, whoever the holder is, you know, you're basically allowing them to utilize and you know, they're also doing short term loans.

[Chip]

Look at John Page says you once had a bank manager and then you had an insurance broker. Now you get jacked pretty much, right? You know, it's pretty much, and the funny thing is you're still paying the fees. Like there's these new insurance, you know, tech and tech insurers that are coming up that are cutting out the middleman. Like you're giving you the same kind of coverage for less. It's like you're still paying the commissions without getting any of the service. So what's the point? You go to a bank, you can't talk. I mean if I ever have to go to the bank, there's nobody there, nobody can talk. There's any other name. I'm like, hey, I need to do this and look at you. Like, I'm real busy doing nothing right now. You know, I mean, I went.

[Jeff]

I went into one of the big bank branches and it was like the largest of the bank branches. I went in and there was like, there were enough. There was enough space for 10 tellers. There were one.

[Chip]

Okay.

[Jeff]

There were actually two. One. One on the, on the vehicle side and one on the inside on the bank side. So there were two. Then there are all these offices and I'm walking around like there's cubicles and offices. There was a security guard and one person somewhere in the maze of cubicles and that was it. I'm like, how do you guys work in here? Like, what's going on?

[Chip]

Yeah, well, it's always like that. Any bank. Well, what. What Eric Trump was commenting, commenting on was his father's post that he said the Genius act is what Trump said. The Genius act is being threatened and undermined by the banks and that's unacceptable. We're not going to allow it. The US Needs get market structure done asap. The Americans should earn more money on their money. The banks are hitting record profits and we're not going to allow them to undermine, undermine our powerful crypto agenda that will end up going to China and in other countries if we don't get the Clarity act taken care of. The Genius act was USA's first big step to make the United States a crypto capital world. And getting the Clarity act done is the next big step to finishing the job and more importantly, keep this big and powerful industry in our country. The banks should not be trying to undercut the Genius act or hold Clarity act hostage. They need to make a good deal with the crypto industry because that's what's in the best interest of the American people. The industry cannot be taken from the people of America when it comes so close to becoming truly successful. Thank you for your attention. This matter President Donald J. Trump. And you know, this was needed, but I'm telling you, man, it's not going to go well for the banking if they want to come down and start hammering the banking side of the House. But this is what happens when you get these cartels. I mean, this is why we have. That's why central banks have destroyed the sovereignty of countries. Most countries have the power to coin their own money, give it to a third party. They're paying interest. Magic. You pay interest for your own government fiat currency. It doesn't make any sense. And that's going to go away too. And I think I feel like Trump's hammering that too. But look who else chimed in on it, Brad Garlinghouse. He said an extremely pointed message from POTUS to those that are dragging their feet on clarity. This isn't always been about what's in the best interest of the American people. We would never have thought we'd see it something like this a couple years ago.

[Jeff]

Jeff, gotta I've got a tear in my eye reading that from Garland.

[Chip]

It's unbelievable.

[Jeff]

It's really. I'm all choked up. I mean it's crazy. You put it in where things been.

[Chip]

You read this post Jeff, because Eric Trump put this post out just a little bit ago but it's just hammering it.

[Jeff]

Let me make this very clear. Big banks think JP Morgan Chase, bank of America, Wells Fargo are lobbying overtime to block Americans from getting higher yields on their savings while trying to block any reward or perk from for from being given to the customers. These banks and others pay rock bottom rates on standard savings often 01 to 0.05 APY even as the Fed pays them 4% or more. This massive massive spread fuels record profits with almost none passed back to their customers every day Depositors and this is what you know major issue then think about the amount of money you're paying on your mortgage amount the amount of money you're paying on your car loans etc business loans today and that was my commentary today the banks are desperately targeting crypto and stablecoins where platform plans platforms plan to offer 4 to 5% plus yields or rewards the ABA and other that's a American Banking association banking or bankers one of the Bankers association yeah bankers right and other lobbyists are spending millions trying to ban or restrict those yields via bills like the Clarity act crying fairness and using words like stability when it's really about protecting their low rate monopoly and preventing deposit flight. This is anti retail, anti consumer and straight up anti American. Next time you see a big bank dropping billions on a shiny new Midtown Midtown Manhattan hq you know exactly where that money comes from the non existent interest rate they pay you. Fortunately the big banks are losing this fight as customers wake up to the game. This is such amazing commentary coming from from Eric Trump and then you see you know President Trump you know talking about this narrative and the reason why they're going after the big banking cartel is because that's the last bit of power control that the deep state has. They control the eb and flow of the money and they stop it from getting into the hands of the people. And if we think about Chip, the impact that these different organizations have had on people's wealth. Think about the real estate boom. And then they burst the bubble, right? They. And everything turns upside down. The banking industry, along with the government, allowed the flood, you know, and the run up of, of people gaining, you know, getting loans and, and the overvaluation of properties. You know, we think back like 2005 era, and then we had the real estate crash. They're all part of this system and they're making a ton of money off of people. They, they allow the industry to crash and then the banks own all the properties, right? Then they're, they're raking in on the properties. And we saw the same thing.com era or, you know, a high tech era, 2000, when they went after Microsoft. Those. Clinton and Al Gore went after Microsoft for antitrust violation. And there's, you know, it's a. And that burst the bubble. That was the pin that pricked the bubble and everything collapsed. And again, all this money was out there and then all of a sudden they didn't. And the transfer of wealth happens in every single one of those cycles, for good or bad, as you watch the industries build up. They tried it with crypto and you could see them. They're still trying. They've tried. They've tried again. They've tried again. There's all these aspects that government's been part of it, like the whole SBF and the internal collapse and the banks have come against it, the media has come against it, the leftist government has come against it. But here, crypto stays. They can't figure out how to get crypto out of the hands of the people. Chip.

[Chip]

Exactly. And, and the funny thing about it is, like, it starts becoming. He mentioned something about antitrust and imagine trying to break, trying to prevent something from going through that basically helps the American people. But it, it's not just here. It's everywhere in the entire world. And I don't know, I, I just think there's got to be a crack somewhere in there. And I would think when we start getting into what happened in Texas, that the rhinos are gonzo, they're gone. I would think that that might start playing a role. It's like, look, you're gonna get primary. You need to vote for this. We're primary in your ass. And Trump has a perfect record, especially in this last primary. Everybody he endorsed one. And there's some people that are going away that have been there for some time. So they're gone. This one here is interesting here. Indiana bill allows crypto and retirement plans. So. So Indiana governor officially signed HB 1042 into law allowing residents to add crypto to their retirement savings. This makes Indiana one of the first states to make the change following Trump's executive order allowing 401k plans to include crypto. And this is going to catch wildfire. Every state should do it. They don't. But, you know, most people have that access to their 401k that they can, especially on the ETF side, but not more specifically on crypto. If you want to invest it into Bitcoin, you can invest it into Bitcoin versus like an etf, which isn't, you know, exactly. You're not exactly personally buying it. So this is going to probably spread. You'll probably see a lot more states. And this is, you know, this is pretty interesting too. I was kind of surprised by this, but Chamath Palabattiya, he runs that all in pod. He's billionaire investor, but he put out this video and this is what he says about Bitcoin. Jeff, tell me if you agree with this or not. There we go.

[Chamath Palihapitiya]

I think the reality is that bitcoin for the most part at this point is there's a structural failing in Bitcoin that I think people will need to come and wrap their heads around. The structural failing is that it is not. So if you think about like, what is the value maximizing function right now? For, for a crypto asset to be broadly adopted, it needs to have the, the, the features that allow a central bank to adopt it. And there are two things that it lacks. You know, one is fungibility and two is privacy. And so Bitcoin fails on those two dimensions. So it can never be a structural holding of a central bank. And that simple thing will keep it in the realm of ETFs and humans. And does gold satisfy those conditions? Yeah, Fungibility easily.

[Governor Tim Walz]

Both.

[Chamath Palihapitiya]

You have no idea how much the bank of China owns. You don't know how many ounces they own. You don't know how many ounces I own. When there's a public ledger that says this address has this much and you can't really trade it because you know the history and the provenance of that exact token. It's been used to buy this. It was transacted over here, went to this wallet. That lack of fungibility and privacy is a huge deterrent for broad structural adoption. That's what you need to then add another 10x of market cap. So is there room for a different crypto asset that solves for the privacy and fungibility?

[Interviewer / Commentator]

Yeah.

[Chamath Palihapitiya]

And are there projects right now? Yes, but they're very small scale. There's huge issues with them. Those are even more volatile. So Bitcoin's interesting.

[Chip]

So what are your thoughts on that?

[Jeff]

That's a tough one, you know, because I think he's right.

[Chip]

It's from, from a central bank's standpoint, I think 100%.

[Jeff]

Yeah, from, from that perspective. But it is interesting because if you hold gold, nobody knows how much gold you have. Right.

[Chip]

But they shouldn't know. They shouldn't know how much gold you have. You can't see them.

[Jeff]

If you, if you somehow find somebody's Bitcoin address and you can now see all of their holdings on Bitcoin now, now you have complete visibility into a private person's holdings. Now if it's a corporate holding, you know, and they, and they're, and they're publicly traded and they're reporting the information you need to know what's in the treasury, you know, maybe that helps, you know, but from a privacy perspective, you know, we shouldn't know. And again, you know, even if you have large accounts, large amounts of money, if someone can pin, let's say, Elon Musk's account, I don't know if they could or couldn't, you know, but at some point, you know, maybe something gets leaked, then they start tracing purchases back and they find trend. You know, maybe there's a, there's ways to, to start, you know, figuring things out like that. That's how they do it, you know, I'm sure. But he here. But that to me could be a potential issue going into a reserve for a bank. I think Microstrategy, you know, they've proven that you can hold bitcoin in a reserve. You know, the US Government can prove that you can hold bitcoin in a reserve. El Salvador has proven you can hold bitcoin in a reserve. You know, and so from that side of it, why, why not, why can't we hold a chip? You know, it's, you know, it's just, it's kind of a crazy. He's trying to protect his, his bottom line once again.

[Chip]

Yeah, well, this, everyone's going to protect their bottom line. That's 100 for sure, man. 100.

[Jeff]

What do you think of this comment here from Mike that was on the Eric Trump comment.

[Chip]

Yeah. Eric had a perfect chance to expose the real scam, the 901 loans savings ratio. Banks create loans for nothing based. Yeah, yeah. It's fractional banking. Right. And then they don't have the reserves that they're supposed to have when they get audited. They don't ever come out. It doesn't ever turn out well. Plus the fines, you know, we've covered the fines on like 20, 25 bank finds. It's like way outweighs anything you see happening in crypto.

[Jeff]

Same.

[Chip]

Yeah, since. But let's go ahead and transition a little bit to the geopolitics section. Jeff, I want to talk a little bit about let's, let's start with Iran. Obviously, that's a touchy subject. We don't have a lot on that tonight. But this guy put out a really good post. He said, you know, the Muslim world is divided about Iran. Here's the Muslim countries that are in favor of removing the Iranian regime. You have Jordan, Kuwait, the uae, Saudi Arabia, Oman, Qatar and Bahrain. Right. Bahrain, as I say it, now the Muslim countries against the removal of the regime, Great Britain, France and Spain. How crazy is this, Jeff? What kind of world do we live in? Seriously? I mean, if you had said three years ago that Iran's, Iran's going to be under attack and you're going to have Saudi Arabia, you're going to have Qatar, you're going to have all these Arab countries that are going to be, then these Muslim countries are going to be joining the fight with the U.S. but the ones sitting it out will be Great Britain, France and Spain.

[Jeff]

Not just the U.S. they're joining the fight with the U.S. and Israel.

[Chip]

Well, and also Israel, too. But I'm just saying. But I mean, how many people? Well, even with Israel, like, if you said like, hey, they're going to join Israel and, and, and ousting the regime, you'd be like, what?

[Jeff]

Right.

[Chip]

But you know who's going to set it out? These Muslim countries? Great Britain, France and Spain. What a great post, man. That's like one of my favorite post,

[Jeff]

I think. Spain. Didn't Spain fold? It was like 48 hours.

[Chip]

I have it. Oh, yeah, I have. It wasn't even 24 hours.

[Jeff]

24 hours.

[Chip]

So what's, what's funny about this thing is that there are boots on the ground and they're not American and they're not Israeli. This is an outstanding feat. Once again, Donald Trump, the master of ceremonies, here he is, the MC with all of the greatest things. But watch this report.

[Chamath Palihapitiya]

It's big. A US Official telling Fox thousands of

[Chip]

Iraqi Kurds have launched a ground offensive

[Chamath Palihapitiya]

in Iran decimated, destroyed, defeated.

[Interviewer / Questioner]

All words the Pentagon used to describe Iran's various military forces.

[Chamath Palihapitiya]

On day five of Operation Epic Fury moments ago, President Trump touting.

[Chip]

How amazing is that? The Kurds. And they're arming the Kurds.

[Jeff]

Yeah.

[Chip]

So the Kurds are going to take, they're going to take it back. And what's so interesting to me is cnn, they, the leadership in Iran has said they're gonna, they want to cease fire. There are no ceasefire, man. There is no leadership in Iran. They're all getting wiped out. It was funny. The, the Babylon Bee had a phenomenal post. Let me see if I got that post here. It's here somewhere. Where's the damn. Where the hell is that Devonset.

[Jeff]

We're relying on Greece to protect our RAF base on Crete at the moment. We won't be sending a ship out there for about a week.

[Chip]

Well, we, we got a great ramp by a news presenter. There she go. She's so spot on. I love the passion of the people that just are, are just, you know, that aren't putting up with the. But this right here, Jeff, about covers, this is a Babylon B1, but it says like to save time, I ran appoints a supreme leader who's already dead.

[Jeff]

They, they got, they got all their extremists mulas together and they, they had about 90 of them in the building. And they leveled the building.

[Chip]

Well, one, well, one of the sons also got killed in that very first one. When they got 49 leaders they got. Then they got the other son as the supreme leader. He got taken out.

[Jeff]

Yeah.

[Chip]

So now they're holding press conferences in schools because this is what they do. This is exactly what they do. This is the kind of cowards that they are. So right.

[Jeff]

And Mark, thank you for bringing that up. And of course I saw all the leftists and the libertarians and the crypto, you know, bros, whatever, you know, they immediately latched on to the news story that somehow the US and Israel bombed a girl school and killed the kids. It was all fake media, fake attention, but they stuck to it. They stuck to their narrative. And there's some big names on in the X space. These guys are, are so stupid, you know, and they're latching on to these narratives that are fake, you know, parading around the world making these statements. And it turned out that it was,

[Chip]

you know, they were, they might have been surprised. Come on, you're gonna trust Iranian media? It's like, remember Baghdad Bob? Everything's going well. Meanwhile, he was the only guy sitting in one room that was like still standing and they leveled Baghdad. Now you got Tehran. Bob over here with, remember that guy was coming out saying, everything's going well, everything's perfect. The attack, the counter attack is going well. Jeff, there's nothing that says it more succinctly than this. Now here, when. Here's where you have three different viewpoints. You have Kamala, Lala, ding dong. You got Joe Biden and you have Trump. How they stand in Iran, right? So what did, what did Biden say about Iran? What did Kamala say about it? And what did Trump say to Iran? Don't. What is your privilege to Iran in this moment? Don't.

[Jeff]

Oh, yeah, I'm gonna bomb the.

[Chip]

Out of them. It's true. I don't care. I don't care.

[Jeff]

I don't care.

[Chip]

I don't care. I mean, what's your message? Don't. Yeah, remember, remember the, remember the. And the wine in the sand that Obama put there? And they walked right over it like the next hour, he's drawing a line, I'm drawing a hard line. And they walked over it like, you know, piss off. I gotta play this one more time. It's just so good. What's the message to Iran? Don't.

[Interviewer / Questioner]

What is your message to Iran in this moment?

[Chip]

Don't.

[Jeff]

I'm gonna bomb the.

[Chip]

Out of them. It's true. I don't care. I don't care.

[Jeff]

God, I love it. Oh, my God.

[Chip]

It's true.

[Jeff]

You know, he's planning this thing right from the get go.

[Chip]

It really is the greatest time to be alive, man. You know, I'll tell you, one of the patriots you have over in the UK is Tommy Robinson. This guy is a freaking God. I hope that he's shelter.

[Jeff]

He's over here right now, I think.

[Chip]

Yeah, I hope he's shield. I think he went back. But here, look at this, Jeff. Look at when you have a patriot like Tommy Robinson over, you know, a British citizen who comes over to the US and knows the US better than most freaking Democrats. That's something.

[Jeff]

Oh, yeah, that's.

[Chip]

Here's Tommy Robinson. He said Obama said Khomeini, 1.7 billion. Biden sent him 6 billion. Trump sent him to hell and all it took was a new president. That's the greatest thing ever imagine.

[Jeff]

They gave, they gave home any. Almost $8 billion between the $2 billion.

[Chip]

You don't think that turned out to be. You don't think that was part of the attack in Israel and all the attacks around, you know, all over the world and killing their own citizens. I mean, they estimated 32, 000 people died in those. Those protests. Yeah. The unofficial record they said was to only. It's only 126 to 12, 000. That's what they said. Like, that's. No, like, that's. Well, it's only. I think we only killed 6 or 12,000 of our own people.

[Jeff]

Yep. Alien Tron said, Remember a few years ago, Christine Lagarde mentioned cyber attack. Well, now cyber attack is coming up again around the Iran situation, saying they expect Iran cyber attacks.

[Chip]

Well, apparently the electricity went out in Cuba, like out of two thirds of Cuba.

[Jeff]

That was really impressive, Ellie. And said, I keep thinking there will be major cyber attacks on the banks. And that has something to do with switching over the new system. Something's coming. You know, they're. They're attacking as this is going on right now in Iran. Like chip just said, 2/3 of all electricity went out in, in Cuba. Could you imagine in Cuba, all they have to do is just remove a few key people, let all the Cubans in Miami go back over to Cuba, bring them over there.

[Chip]

Jeff, we were planning. We were talking about a trip over there. We could do a live stream over there. We'd be smoking some big old Cuban cigars, you know, drinking some Cuban rum on the beach. Oh, my God. It's gonna be. You figure once money goes in there, they're gonna have the most beautiful places on the beach. It'll be. It'll be amazing to go to Cuba. And it's probably skipping a jump from Miami. It's like, it's. If you go down to the Key west and the SouthernMost point, it's 90 miles. That means if there was a bridge, you could drive there in an hour and a half. That's how close Cuba is to the United States.

[Jeff]

You know what? We should plan an OTC meetup in Cuba.

[Chip]

Mark your calendars. Next year we'll do it. Going to Cuba.

[Jeff]

January, February, going to Cuba.

[Chip]

How fantastic would that be? So look at this. So here's Trump talking about Spain banning, you know, basically the use of the. Of the air strip there.

[Jeff]

Oh, my. Spain.

[Chip]

Because also, also the UK wouldn't allow us to use it either, even though they did last year, last May, when we took out the nuclear sites. Here we go. I also secured commitments for virtually all NATO allies to increase their defense spending to 5% of GDP. Everybody but Spain. I don't know what's happening with Spain. Why would they not do that? They want a free ride. I Guess, huh? Every country but Spain increased to 5%. I don't know why. We're gonna have to talk to. Yeah, so, and so they, so what they did was. Here, I'll put this up on screen here. Just unbelievable, man. It really is, it's just, it's hard to understand here. Spain's leftist prime minister Pedro Sanchez banned the United States from using its military bases to launch strikes against Iran.

[Interviewer / Questioner]

U.

[Chip]

S Aircraft that reportedly left bases in Spain. This is an ally. What a freaking disgrace. President Trump recently towards Spain's leadership. Virtually all NATO allies increased their defenses to 5%. Everyone except Spain. They want a free ride, I guess. What's going on? Yeah, it's exactly what it is, Jeff. They're a bunch of socialists. So here is somebody asking the question at the press secretary that at all

[Interviewer / Questioner]

put a wrinkle in the President's plan for a trade embargo with them.

[Chip]

Let me first start up a save. You guys hadn't heard. So Trump's like, okay, you don't want to listen to basis cut off all trade. And then Bessant came in and said, yeah, we, because of the Supreme Court ruling, we can stop doing business with them a hundred percent, cut all trade. No more trade with Spain. They folded with the less than 48 hours, Jeff.

[Jeff]

It was amazing. Like they don't even think through it. They don't think through anything.

[Chip]

They got a roll, dude. I mean you're, you're a dude, you're nobody, nobody even knows who Pedro Sanchez is until we just told them he's a socialist. And you know what else this guy's doing? He's, he's giving citizenship to 500, 500,000 of the rabble rousers. He's just going to make them all citizens. Oh, they're going, they're going nuts in Spain. They are not happy about this. So here it is.

[Interviewer / Questioner]

Wrinkle in the President's plan for a trade embargo with that with respect to Spain. I think they heard the President's message yesterday loud and clear. And it's my understanding over the past several hours they've agreed to cooperate with the US Military. And so I know that the US military is coordinating with their counterparts in Spain. But the President expects all Europe, all of our European allies of course, to cooperate in this long sought after mission not just for the United States, but also for Europe to crush the rogue Iranian regime that again not only threatens America but also threatens our European allies as well with respect to oil prices in the economy.

[Chip]

So anyway, that's Basically all it is. But, yeah. How crazy is that? You know what? Let me realize. Oh, you mean the banking? You mean banks, too? Oh, you mean money that we have set in the banks in us? Oh, you. Wait, wait. I mean, you're right. They're like, oh, we're gonna like carney beating his chest. So mark carney, the first. The second day, he came in and said, of course we support it. And now he just put out a press conference, and they were asking about. He's getting real snippy. He's like, well, when you've had a chance to look at international law, blah, blah, blah, blah, blah. Dude, go pound sand. Someone took him and said, dude, why did you endorse that? I mean, how ridiculous. Pathetic.

[Jeff]

Yeah.

[Chip]

You want to hear something funny? What happened in texas? Remember jasmine crockett, the nut job with the. With the eyelashes that are that long? Watch it. Look at this.

[Jeff]

It's perfect.

[Chip]

Dude. She got beat by this weird nobody. He went on like. He went on like colbert, and he was such a goofy. And she was mad because he didn't bring her on. There was some kind of like, some dust up between the two. James talarico defeated jasmine crockett in the. In the u. S. Senate. Now, what's great about this was because of the redistricting, she lost her house seat. So she went to go run for senate, and now she's out at the senate. She's done a racist democrat. Voters just opposed a black female queen. How shameful. That's horrible again. And then now she's saying it's rigged. It's rigged because he's suing. She's suing because she says it was rigged. So there's something wrong with the voting system because a democrat beat her because no one likes her. You know who else is out? Eye patch? McCain. That's right. Dan crenshaw, who's I like. His nick is the best. I don't know who gave him this nickname, but it's the best thing ever. Eyepatch mccain, better known as dan crenshaw, lost to steve toth in the primary. Double digits, Jeff. Double digits. This cowboy on the right just beat iPatch McCain.

[Jeff]

Oh, yeah. Yep.

[Chip]

He's a rhino jackass. Jeff, you want to take this next one? Who will? Us, too. Look at this.

[Jeff]

This guy's going down.

[Chip]

Al green.

[Jeff]

He's tried to impeach trump six times, and now he's gone from the senate along with crockett and crenshaw.

[Chip]

How funny is that, Jeff? It's just fantastic.

[Jeff]

Yeah.

[Chip]

Look at. People are. Look at the memes people are coming up with.

[Jeff]

Accepting application.

[Chip]

Accepting applications. A quality leering center. You've got. You've got eyepatch, McCain dressed as a pirate. Jasmine Crockett dressed in a Waffle House outfit. And then you got Al Green. And I'm not gonna say what he's dressed as, because this is rough, man. I'm not gonna go. I'm not going there. I'm not going there. But they're making fun of his sign at the. They're making fun of his sign at the. He had a sign saying we are not apes. So, yeah, he got tossed. He got taught. He gets tossed out of the State of the Union. Every State of the Union that Trump had. So, anyway, there's one of the memes. And Jeff, are you familiar with this meme here? Like to show disappointment. It's this. It's this Ben. The hell's his last name? Ben? Come on, guys, help me out. I can't think of the actor. Ben, Ben, Ben, Ben, Ben something. He was in Goodwill hunting. Goodwill hunting. Ben Affleck. Okay, so Ben Affleck. This is a famous meme to go. They've changed it a million times. Disappointment, right? This is disappointment. Him, the cigarette outside, you know, just disappointed. Well, they took that and they updated it, and there you go. You got high patch, McCain, Crockett, and Al Green with the cigarette hanging out. It's just fantastic, these memes. My God, it's just the greatest. It's the greatest time to be alive. Thank God, AI. We have AI. It's really fantastic to make names. That's. I mean, if there's no other. Greater, you know, there has to be. It's got to be one of the greatest things ever. So we talked about the UK a little bit. Jeff, look at this. Watch this clip and tell me what you think about this. Listen, what Trump said about the uk. And I'm not, by the way, I'm not happy with the UK either. That island that you read about, the

[Jeff]

lease, okay, he made it.

[Chip]

For whatever reason, he made a lease of the island. Somebody came and took it away from him. And it's taken three, four days for us to work out where we can land. There would have been much more convenient landing there, as opposed to flying many extra hours. So we are very surprised.

[Jeff]

This is not Winston Churchill that we're dealing with.

[Chip]

What a slam. What a slam.

[Jeff]

My God.

[Chip]

This is not Winston Churchill we're dealing with at. Oh, man.

[Jeff]

The gangster dance. I don't know if you Saw that one. Oh my God, it was great.

[Chip]

Here we go. So here is a British presenter going off about the whole thing, man. Because the other thing was instead of, instead of UK going and protecting their stronghold, like where they have it, they have Greece and France doing it. I mean, dude, if Greece and France are doing it, you know you got some issues, bro. You know you got some serious issues. But she, this is, this is brilliant. This is scathing. Listen to this. I love the passion here. I wish everybody in the UK would just listen to her and just get, get some passion.

[British News Presenter]

Horrifies me to read that. And Jake is right. Our amazing armed forces deserve all the credibility. They deserve good resources, they deserve to have our full support. They deserve to be protected. For crying out loud. We were exposed out there. We knew that there was going to be war in that region and we have left them undefended. And now France and Greece are having to run to our resc.

[Interviewer / Commentator]

You know what?

[British News Presenter]

I've got a message not just for this Prime Minister, but all of you. All of you. For the past 20 years, you have been self indulgent, you've been naive. Your policy principles have had totally the wrong priorities. It's been about keeping your seats, gaining your seats, pandering to communities who will never vote for you, who do not have our interests at heart. You didn't stop those pro Palestine marches. You didn't prescribe the Muslim Brotherhood, you didn't prescribe the irgc. You were weak in support of Israel. You have sabotaged our self sufficiency when it comes to energy production, concreting those oil wells, banning exploratory drilling in the North Sea. What on earth do you think you're doing? You're domestic terrorists. You're sabotaging this nation. You're compromising food security by attacking the farmers. Well, guess what? When international maritime shipping routes close down, food can no longer reach our island. Everything that this government has, and quite frankly previous governments have been doing for far too long now has been pathetic. It's been weak willed, it has had its eye off the ball. It has been narcissistic, it's been about looking good in public. And at the same time, you have put Britain in a desperately precarious situation. You flooded this land with foreign enemies. You have not secured our borders because of a pandering to, out of date, not fit for purpose international law and treaties that belong in the dustbin of history, that defend our enemies and straightjacket our ability to defend ourselves. You have bowed down at the altar to Every single dangerous, perilous, pathetic and weak woke ideology out there, filling up your shopping cart, showering yourself in faux moral glory. Well look at where we are now. We're not able to defend our RAF base. We are completely out of the picture. Not trusted by our allies. In fact they're having to to rush to our defense. We got the highest energy prices in the world and guess what? With the cost of gas going up 90% we're going to be hit hard. Qatar, the one person who was supplying us with liquefied natural gas. Well they're not going to be able to anymore. And are we self sufficient? Are we resilient? No. Because everyone who's been in power just thinks war is a distant thing that won't happen to them. What is more important is rainbow lanyards and pronouns your pathetic. Look what you've done to this country, the lot of you. For crying out loud. Wait, got that off my chest, didn't I? Let's speak now.

[Chip]

She sure did get off her chest, Jeff. You notice there was no teleprompter. That was all generated on the spot. You could probably just put that into a speech. It's phenomenal. Like that's good news presenter has to go off and oh my God, like what? Most Brits are amazing if you're just getting regulated to just garbage and you got in. The Canadians are dealing with the same bull crap as with this, with this carney where they're giving a hundred million dollars to, to foreigners for school. But they're. Meanwhile you got the record number of food banks in Canada but they're giving away all this money to people who are foreigners. I, I just, I, I, you can't even make it, make it make sense. I mean people are so stupid. If you think about the left, they're nut jobs, man. Anybody that votes Democrats, they're complete an absolute moron stuff.

[Jeff]

They're feckless. Save Canada. We need to have a whole agenda on save Canada once, once we get done with Iran, then we'll fix Cuba. Then the next step is to fix Canada. There might be some other, you know, needs in between the threat in the United States mainland over here. But Canada, Canada is right up there. Canada is definitely a threat at our northern border. So we got to think about that.

[Chip]

Yeah, I mean I definitely think so. It's, it's crazy at this point. You know Tim Walls was in hearing today and they just raked his ass over the coals. Before we do that though, here's my other favorite post from this here's my other favorite post, Jeff. Look at this one here. This is great. This is a post about Trump.

[Jeff]

Aussie announcer. That cursed Ayatollah in Persian. That was great.

[Chip]

Oh, yeah, that was great. We actually played that the other night. Here we go.

[Jeff]

Moves. I'm moving with you guys in Florida. That's right.

[Chip]

Look at this. Looks right here. Trump's got. Trump's got 34 felonies, three baby mamas been shot and kidnapped by a city. Kidnapped a sitting president. He's running our government like Death Row record from the 90s.

[Jeff]

Look at the 90s.

[Chip]

Look at this. This is great. Look at J.D. he's got the grill going on there. Marco's got the. The. Look at the freaking gold chains. The big 47, Pete Hegg, Seth's got the cornrows. This is phenomenal, man. I don't know who comes up with this. Thank God for AI to be able to create this picture. Looks like he's almost wearing a badass yeti shirt on there. I don't know if that's it.

[Jeff]

Yeah, look at that. Was that a yeti?

[Chip]

I don't know if that's a yeti or not. Death Row records, man. He's running like Death Row.

[Jeff]

Badass yeti.

[Chip]

He is just on fire. Jeff, you want to see what the British people are watching? Here's the British people watching America liberate Iran from radical Islam. Oh, my God. I gotta tell you, some of the best memes I've ever seen are on.

[Jeff]

Oh, that was great.

[Chip]

Wait, wait, this is even. You're gonna love this one. Here's Bibi Netanyahu with. With Macron, the. The weak and feeble prime Minister of France. Bibi says, I need your help with Iran. Macron says, France won't join your attack. France will not join your attack. And Bibi says, I need you to show Iran how to surrender. God, it's fantastic. Macron not happy. Gosh, I'm telling you, man, the people that put these things out, they're freaking amazing.

[Jeff]

Dave, Dave said, I discovered your show two weeks ago and have been enjoying it ever since. I look forward to new drops. The Zaldao show was great and inspired my curiosity to research it.

[Chip]

Dave, tomorrow on X, I'll be co hosting with Jenna X at 8:30, guys. And I want to make sure you guys all come tomorrow because nobody from the show ever at OTC ever comes in support except for Jeff. But tomorrow at 8:30 on X, you guys can join in. You guys come up to the stage. You can have A conversation. Talk where it's going to be all Zodo. So we're going to talk about Zao now on there. So I really appreciate comments like that. Thank you for that, Dave. Really appreciate it. We. Well, someone thinks Australia, some. Someone thinks it's decent. Right. Well, we do geopolitics, so chances are we're going to cover your country at some point. And then hopefully it's gonna. And hopefully it'll. We'll. It'll be good because, you know, we. We want these other countries to succeed and we don't like, you know, the people are great. Unfortunately, the leadership is just complete crap. Look at. So Tim Walls. I. I can't play all of these, Jeff, but I'll probably play the two best ones here. This. This one was solid. Look at this one.

[Interviewer / Commentator]

Are moving.

[Chip]

I wouldn't doubt they're moving there. I mean, I think everyone's going to

[Jeff]

be leaving Palm Beach.

[Chip]

Did you see that? Who's the big company that's leaving Illinois?

[Jeff]

Big companies are moving.

[Chip]

Huge companies leaving. They're leaving. They're gone.

[Jeff]

I don't know. John Deere, one of these big companies left Colorado.

[Chip]

Yeah.

[Jeff]

And they just moved.

[Chip]

They didn't even tell anybody Dear John letter or anything. It was nothing. But watch this. Just let me just for the record, guys, just want to remind you, the Tim. Tim Walls and I, he's actually a little bit younger than me. We were born the same freaking year. This guy, he looks older than when he was running for the vice president a year ago. I mean, like, what's going on with this guy, man? He looks so daft. He's half. He's half out of it. What the hell's going on with this dude anyway? This. This is a great exchange. Watch this. Wait, here we go. Here we go.

[Interviewer / Commentator]

You know, Mr. Chairman, I don't know if you know this, but it's been widely reported that in 2008, when Barack Obama was choosing his vice presidential candidate, he had three criteria. He wanted to make sure he picked somebody that wasn't as smart as him and had less talent and charisma and couldn't possibly outshine him. So he picked Joe Biden. And then Joe Biden in 2020 used the exact same criteria. He wanted to make sure he picked somebody who wasn't as smart as him, had less talent, charisma, and wouldn't outshine him. And he picked Kamala Harris. And then in 2024, Governor, I think it's very evident why Kamala Harris picked you. The talent pool, Mr. Chairman. The talent pool in just shallow. No, brother, we have hit the shore. And I yield back.

[Chip]

How. How amazing was that? And Tim Wallace is laughing his ass off. I'm like, what else could he do? I mean, like, you're the complete bottom feeder. You're. You're. There's Obama, there's Biden, there's Harris, and then there's you. We all know why she picked you. And he's like, I wouldn't know. Then this one, too.

[Jeff]

Look at this visual identity chip. You look. You're the same age as Tim Waltz. How the hell you look so young?

[Chip]

This is the genes. Well, you know, I'm older than I look. Sometimes the camera makes you look a little bit younger also. But also my. My wife's been redoing. My. My wife's an esthetician. She's like a miracle worker. So I've been getting all these treatments done, so it's removing the. The wrinkles and the deep wrinkles, and it's been doing a lot of jobs. Got another treatment done on Monday, and I'm getting another one done in two weeks, so that's been helping. Plus, I got a skin routine, Jeff. I've been a skin routine for the last two years. I'm putting creams on and a night thing and then a day thing and this and that and all this. I don't even know, but I'm like, it's working and I'm happy about it. But anyway, you're gonna keep. But just even, like, as I understand, you know, you know, if I didn't have any hair, maybe I would look older. But, Jeff, you're a lot younger than me. You know, I. Maybe. But, you know, I don't understand what this guy. He just looks like. He's completely, like, just not there. He's a Democrat. So watch this. Watch this exchange right here. This is great.

[Interviewer / Questioner]

Staying on Capitol Hill, folks. And there is Governor Tim Wallace facing questions from Representative Nancy Mace. Let's listen in. Do you know what a woman is

[Chip]

now, Nancy Mace, man, she does not hold anything back. Do you know what a woman is? Listen to that. Look at his face here.

[Governor Tim Walz]

Joe, I'm the governor of Minnesota Congress. I'm not here to be your prop for your obsession.

[Interviewer / Questioner]

What a woman is. You certainly can't define what fraud is. You can't even define what a woman is. You can't define fraud. How much money was spent on autism in Minnesota in 2017, Governor?

[Jeff]

Oh, my God.

[Governor Tim Walz]

I don't have those numbers in front of me.

[Interviewer / Questioner]

Congressman, did you Prepare for this hearing today. And you've seen the numbers about autism fraud in Minnesota. So we're going to do some Minnesota math with you today.

[Interviewer / Commentator]

Okay?

[Interviewer / Questioner]

Are you ready? How much money was spent on 22017 for autism in Minnesota? How much?

[Governor Tim Walz]

I don't know. I wasn't the governor.

[Interviewer / Questioner]

Okay. That you prepared for this hearing today. $1 million.

[Chip]

Okay.

[Interviewer / Questioner]

A quick Google search or using your AI could tell you $1 million was spent. How much money was spent on autism in Minnesota in 2024?

[Governor Tim Walz]

I don't have the number in front

[Jeff]

of me as governor in 2024 like I was.

[Governor Tim Walz]

But I'm not the.

[Interviewer / Questioner]

So your excuse before that you didn't know what 2017 autism numbers were because you were not governor. And today you can't answer the numbers about 2024 as governor. And you still said you prepared for this hearing today. It's unbelievable. $343 million.

[Chip]

Look at this.

[Interviewer / Questioner]

In 2024, what percent increases that from 1 million to 343 million? What percentage increases that.

[Governor Tim Walz]

I'm not here to be your prop. Go ahead and tell me.

[Interviewer / Questioner]

Are you governor of Minnesota or not?

[Governor Tim Walz]

Yes, I am. I'm not.

[Interviewer / Questioner]

Well, I'm governor of South Carolina. You can sure as hell bet that I'm going to know the math. And math is 34,200% increase. An increase of 343 times what it was in this time period. Do you know the number of children in Minnesota?

[Governor Tim Walz]

I know that Minnesota ranked as a top three state for children.

[Interviewer / Questioner]

What's the total population in Minnesota?

[Governor Tim Walz]

5.7 million.

[Jeff]

Okay.

[Interviewer / Questioner]

What is the total population of children in Minnesota?

[Governor Tim Walz]

I don't have the number in front of me.

[Interviewer / Questioner]

Right.

Are you governor of Minnesota?

[Governor Tim Walz]

I know 400,000 were cut out of health care last week by the actions you made.

[Interviewer / Questioner]

Are you governor of. Of Minnesota?

[Jeff]

Oh, yeah. She's.

[Governor Tim Walz]

I am.

[Interviewer / Questioner]

And you don't know the number of children residing?

[Governor Tim Walz]

I don't have the specific number. It's 5.7 million.

[Interviewer / Questioner]

That's your total.

[Governor Tim Walz]

What is your age? What is the age? 0 to 5. 0 to.

[Chip]

I love when he starts getting mad. This is the best.

[Jeff]

Yeah. Yeah.

[Interviewer / Questioner]

We have approximately 1.2 million children in Minnesota. Not even governor of South Carolina. Our population in South Carolina is 5.5 million. We have approximately 1.1 million children under the age of 18 in my home state of South Carolina. Okay. As governor, I expect you to know this information. Thank God you're not Vice President of the United States. Approximately how many children in Minnesota. Our population in South Carolina is 5.5 million, approximately 1.1 million children under the age of 18 in my home state of South Carolina.

[Chamath Palihapitiya]

Okay.

[British News Presenter]

Okay.

[Interviewer / Questioner]

As governor, I expect you to know this information. Thank God you're not vice President of the United States. Do you know approximately how many children in Minnesota are autistic or on the spectrum?

[Governor Tim Walz]

No, I don't. I don't have that number.

[Interviewer / Questioner]

Okay, well, he's roughly 1 in 36 kids are on the spectrum. We're talking about approximately 33,000.

[Chip]

I hate to say, but this guy's on the spectrum, Jeff. He has to be on the spectrum. He has to be on some spectrum.

[Interviewer / Questioner]

And South Carolina, about 30.

[Chip]

Anyway, this kind of goes on. It's kind of like a lot more of the same. But those are probably the two best ones. I mean, I love the guy when he's just, oh my God, it's.

[Jeff]

It's brilliant.

[Chip]

Oh, so this one too, this one become.

[Jeff]

What does that say for the people in Minnesota that are voting for this guy?

[Chip]

Oh, man.

[Jeff]

How do you vote for a guy like that?

[Chip]

This is a weird one here. Look at this one, Jeff.

[Interviewer / Questioner]

Are restarted. Jim Jordan, you tell the truth about why you restarted the paint.

[Jeff]

Oh, this solid.

[Governor Tim Walz]

Well, Chairman, we, we did tell you and feeding our future grew because of the pandemic and asked that question.

[Interviewer / Questioner]

I said, why didn't you tell the truth about why you restarted the payments? The payment stopped because there were concerns, obviously wouldn't stop the payments. Then they restarted a month later. What was the reason for restarting the pay payments?

[Governor Tim Walz]

My understanding was the. The agency believed that the court had required them to make those payments.

[Interviewer / Questioner]

And that was false, wasn't it? You, I think that is said that, didn't you?

[Chip]

I don't.

[Interviewer / Questioner]

You said the reason you restarted because the court ordered you to do so. Is that right?

[Governor Tim Walz]

I don't believe that is settled yet, to the best of my knowledge.

[Interviewer / Questioner]

Well, I think it is because the court did something that I just don't. I don't know if I've ever seen it. They issued a statement. Statement saying you were wrong in what you were saying. This is from the court. It says, feeding our future versus Minnesota Department of Education. Correcting reports and statements by Governor Tim Walz concerning orders issued by the court. Here's what the judge says. Governor Tim Walls told the media that the Minnesota Department of Education attempted in payments to FOF because of possible fraud. But that Judge Guthman, what's, what's remarkable

[Chip]

here, Jeff, is he doesn't know that the court issued that statement right it's truly remarkable that he doesn't know much. He's surprised. He doesn't know what's going on. Like he just can't understand what is going on. Look at him. He's sitting back. He's like, damn, I got caught in that one. He's blaming it on the court. The court's like, no, we had nothing to do with it.

[Interviewer / Questioner]

Ordered payments to continue in April 2021. Next sentence. That is false. So you said something wasn't true. He further states, this court says this Judge Guthman never ordered the Department of Education to resume payments, defeating our future in April 2021 or at any other time. So I want to know, why didn't you tell the truth, Congressman?

[Governor Tim Walz]

The attorneys at the Department of Education interpreted that differently. Both of those judges are no longer on the bench. And I think that interpretation.

[Interviewer / Questioner]

Very first sentence, the first seven words. This is not some unnamed source talking to the New York Times. It's not some anonymous source talking to whatever your Minnesota Star Tribune or whatever your paper is. This is the court speaking. First sentence, first seven words. Due to inaccurate statements by the governor, Ramsey County District Court judge has issued and authorized that this following news released. That's pretty straightforward. So the court's lion,

[Chip]

I, I, I

[Interviewer / Questioner]

can't tell you, Congressman, but the interpretation, somebody's lying. Because you can't say the court ordered you to restart the payments. And then the court says, we didn't

[Chip]

order you to see the nose rub.

[Jeff]

Yeah, yep.

[Chip]

Those body. Ex, those body, what do you call it? What do they call them? Body experts like that. He's, he doesn't know. I think he felt it grow a little bit. Like a Pinocchio knows. He felt like, oh, did my nose move? Trying to, like, close you.

[Interviewer / Questioner]

Start the payment. So either you're lying or the court's line, and I'm just asking you which one is it?

[Jeff]

Definitely.

[Governor Tim Walz]

I just simply know what the attorneys at the agency believe, that it was a misinterpretation. And I would note that those you

[Interviewer / Questioner]

were trying to hide behind the court, Governor, could that maybe be the reason why you issued the statements you did and why the court had to do something you never see done before? They issue a press statement saying, you're wrong, the governor is wrong. His statement is their words, not false. Could that be the reason?

[Governor Tim Walz]

That was not the interpretation of the attorneys. And, and, you know, court work. You can appeal those congressmen, as you well know.

[Interviewer / Questioner]

I'm sure it's all about politics, Governor.

[Governor Tim Walz]

No, it's, it's about Taking care of.

[Chip]

He makes another dumb statement. You can appeal that. Well, you can't appeal it unless you know that they, that they were not in favor. So like he just made a critical error in saying you can appeal. You know, the courts are, you know how the courts are. The old, you know, the courts, they're ridiculous. Sorry, dude.

[Jeff]

He's unbelievable.

[Chip]

He's just, I mean he's lost the narrative. He lost the narrative big time. The guys, I mean he's gonna, I think at some point he's perjured himself. That's in some capacity. There was this one too about the leeching off of the, with the Somali.

[Interviewer / Commentator]

The 70,000 strong Somali community as a whole has made a positive impact on your state.

[Governor Tim Walz]

I do.

[Interviewer / Commentator]

So you be the opinion fair to say that the Somali community has successfully assimilated and is making Minnesota better?

[Governor Tim Walz]

Yeah, I believe they're on that path. Yes.

[Chip]

I'm just curious by what they're on that path. Wait till he's right. T shirt. The numbers, Jeff, for the path that they're on.

[Interviewer / Commentator]

Metric. You come to that conclusion? I just looked at some hard data and do you have any idea the. What percentage of the native born Minnesotans, all races live in poverty in your state right now?

[Governor Tim Walz]

I don't have specifically.

[Interviewer / Commentator]

I, I'll share with you. It's 8% for the Somali community it's 52%. How about receiving food stamps?

[Chip]

52.

[Jeff]

Yeah. This one I don't.

[Interviewer / Commentator]

I'll run it down with you at 7%. And then in the. Compared to 54% in the Somali community. And then don't have or have it. Don't have at least a high school diploma. For all Minnesotans, it's 5%. Small community, it's 39%. One family member at least on Medicaid it's 18% for Minnesota, 73% for the Somali community. And receiving welfare of some form, it's 21% and that's 81%.

[Chip]

Those numbers are high. Almost 20% of Minnesotans are on, are on assistance.

[Jeff]

Yeah.

[Chip]

I mean, and then, I mean then, then it looks great when you go, well, it's 80% of the Somali. Oh yeah, that's not bad. You know, it's.

[Jeff]

Yeah.

[Interviewer / Commentator]

For the Somali community. Governor, do you happen to know percentages of all those who have currently been charged in this staggering social services fraud scheme were native born Minnesotans? What percentage?

[Governor Tim Walz]

I, I do not have that.

[Interviewer / Commentator]

I think it was 85 out of 98, which comes out to 13% Minnesota and 87% Somali. Minnesotan. So I think this is an instance perhaps of where we'll get slapped by data. Governor, there's been billions stolen over seven plus years right under your nose. And really there's only two explanations. It's either you were in on it or you weren't smart enough to see it. It's either criminal negligence or wild incompetence. And the only way this kind of fraud can reach this scale is if there's people in power that are colluding and collaborating and willfully blinding themselves to the realities around them. And in oversight, when we do investigations, and it's rare for us to have whistleblowers because it's, they face retribution and punishment and resentment and they can be ostracized. And it's difficult and it's uncomfortable and sometimes it's even dangerous. So when we have an, when we're having an investigation and we have even a couple of whistleblowers, it's very valuable to us because they provide invaluable insight. Do you have any idea how many whistleblowers are working from Minnesota or working, working with the Oversight Committee?

[Governor Tim Walz]

I do not. We have our own strong protections on the OLA.

[Chip]

The end.

[Interviewer / Commentator]

Well, it's 30. I mean, I haven't seen that in five plus years in Congress. 30. Governor, on September 16, 30.

[Chip]

Whistleblowers are about to get extremely rich, Jeff. They get a pocket. They're gonna. Oh yeah, they're gonna cat 30. I, I thought, honestly, I thought it was like five or six. I didn't know it was 30. Holding the cats, Jeff.

[Jeff]

The massive number of people that have been watching this fraud take place, people

[Chip]

that are probably watching are probably thinking, how come you didn't play anything from the bill and Hillary? Which there's God. We could do a whole special on that. But I just picked one clip in particular of Hillary Clinton and it's a short one, Jeff, then we'll get out of here. But I just picked one of the clips from Hillary Clinton. You ready to see this? Here we go. Oh, for heaven. So I would like to understand how that's permissible. It doesn't matter. We all are abiding by the same rules.

[British News Presenter]

I, I will take that down.

[Interviewer / Questioner]

Yeah.

[Chip]

Well, I would like to take a break at this moment.

[Jeff]

I'd like to have.

[Interviewer / Questioner]

For now.

[Jeff]

I'm done for now.

[Chip]

Why Bill looks so old. So people listening to this, they. Someone did an AI thing where she looks like a demon. She looks like, she looks like the devil with big horns on and stuff, and she loses her temper. Which is fantastic. This is the best part of the thing, Jeff. There was one time where. Where I wish, let's try to find the clip. And I couldn't find it because there's so many good ones shared. But they give the picture to Clinton for Bill Clinton. He starts looking at the girls in the hot tub. Have you seen this one?

[Jeff]

Right?

[Chip]

And then.

[Interviewer / Commentator]

Oh, yeah.

[Chip]

Lawyer tries to take it away.

[Jeff]

He's.

[Chip]

He grabs it to try to take it back. He's like, looking at it, and she's trying to take it away from him, and he's sitting there going through, and he's looking at. And he's smiling. I was like, oh, my God, dude, what a bad look that was.

[Jeff]

Holy Emory.

[Chip]

Oh, my gosh, that's crazy great. Anyway, Buttons.

[Jeff]

My God.

[Chip]

Harder to watch these clips as visual vendetta because it makes me realize more and more how corrupt the country is. But hopefully, yeah, it will be.

[Jeff]

Who knows?

[Chip]

I don't. I just find the whole thing to be extraordinarily crazy to me, Jeff. I mean, the whole thing is. Lebanese President Joseph Allen replaces civilian attire with military uniform, declares Hezbollah outside law, and announces clear and explicit military confrontation against it. Wow, dude. Lebanon's joining the fight. Holy cow. It's.

[Jeff]

Everybody's got an opportunity.

[Chip]

Sorry. It says this is AI Not a real video. I can't even tell. Thank God somebody put a community note on it, because I always try to corroborate it. It just was something I read, but I was like, holy cow, it's.

[Jeff]

Or the whole state.

[Chip]

No, the whole thing said it was an AI video. So I don't know if it was actually accurate or not, but.

[Jeff]

Well, Condoleezza, right, did come out, and she calls on the Trump administration to take of. To take care of Iran for good. That's it.

[Chip]

Oh, she did. Well, there you go.

[Jeff]

Take care of Iran.

[Chip]

Well, nobody else had the balls to do it, number one. So I don't know that Iran has

[Jeff]

been at war with us for at least 47 years. If you ask people about Iraq, what was the source of many of our casualties in Iraq, you'll get estimates as high as 75 or 80% of them were due to Iran made roadside bombs. And that's exactly what it was. You know, it's amazing, you know, so many of the problems throughout the world all, you know, tie back funding terrorism, Jeff.

[Chip]

They were funding all the terrorism during. And Obama was bombing places, but he wasn't letting the generals bomb it. And meanwhile, Trump came in in 2016, six weeks. They're gone six weeks. He said, let the generals figure out where they want to bomb. We're not, we're not doing this for fun, so. But tomorrow night, guys, join me in Jenna X over on x 8:30. Not 8, it's 8:30. We will be doing an hour X spaces and we bringing to talking xrpl. Talking Zyoda. But come join. You guys are looking for something to do and you're like, ah, the Chip and Jeff are. I won't come. Hang out with me tomorrow night. Come up on the stage, ask some questions, share some stuff. We'll be talking about things that are happening during the day. It's a little bit different than this show, but we get a lot of engagement from the community. So why don't you guys come join? Come up, ask questions, all that good stuff, but that's all we got. There was some good stuff tonight. Yeah, there was some fun stuff. All right, well, that's all.

[Jeff]

What's today? Today's Wednesday. We're going to be back on Saturday. Saturday morning, 8:00am Eastern Standard Time. Standard time. We'll be here to have some fun. No, no Yeti drawing tonight. We're still working on getting some more of the yetis released.

[Chip]

We gotta take a break, Jeff. Let's face it. We gotta take a little bit of a break.

[Jeff]

Locked up in yeti and it's a

[Chip]

bit of a break. And guys, I want to ask you one favor before we go. Before we go, I want to ask you a favor. Can you guys repost this? Like it. Comment on it and repost it. If you don't like it, keep it to yourself. Like I always say, don't tell anybody, but go ahead and click on that link right there and go ahead and repost it. I'm asking you nicely to do that. Repost it. It's good for the algo. Leave a comment. Like it. Leave a little comment, blah, blah, blah. I liked it, I didn't like it, whatever. And then if you can repost it on your X account, that would be great because it does help the algorithm and it does get more people get exposed to more people. And so it gets me. It gets me more work, which is always a good thing. Rigged from the start. There you go. So, guys, did you guys click on that? And also, if you're still in here, please, like, like, like, like the video. And that's it. That's all we have. See you Saturday night. See you guys Saturday. All right, cheers, guys. We'll see you soon. Have a great rest of your week. I'm sure we'll have plenty more to talk about. Man, we could do. We could really do a show in the morning and at night. We wouldn't come close to covering it. On the crypto side, we would, but on the geopolitical side.

[Jeff]

But, yeah, crypto.

[Chip]

Yeah, yeah, crypto's good. Getting tired of crypto.

[Jeff]

The news on crypto that I think everyone forgot about also is that since Saturday, last Saturday, crypto's been on a run.

[Chip]

Interesting timing, Jeff. The world's banding together and outing a bad actor. Sounds. Sounds good to me. Sounds good to me. We'll see you guys on the next one. Chippy. Jeff. Oh,

[British News Presenter]

are you down with otc?

[Chip]

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