What's up And welcome back to another episode of No Sealers Podcast with your hosts Now fuck That with your loaw glasses Malone. How I plan to release my projects in the future is and four different version right, like a vinyl version which is like forty six minutes or less, sure cossette version which is like sixty minutes or less, a CD version that's seventy four minutes, and a playlist
version up to ninety minutes. So imagine like how I write, you know already, like before I even learned sonics and shit, I used to write a lot of my stories, like you know, I mean, I'm innately, I'm a storyteller. And then I just been working on my skills, write different books I read to build my skills, talking to legends about it, blah blah blah. But it's like a film, you know how some films you watch they have extended versions of it or extra scenes that was missing. I
feel like it would be like that. And so as a storyteller, that's really a pillar to me because it helps me extend the story. Like it may have the same beginning, it had the same beginning, it may have the same climax and it may have the same ending, but how I get there can be extended different takes,
so I add different songs. But it also business level would give my fans a chance to just support me in like four different ways, so they not just like okay if they buy the vinyl and then I released the cassette next, Like let's say I released a vinyl and then the vinyls is out for a month by itself. Then the next month is the cassette version, right from the follow up month is the CD version, and then it goes to playlist and it has everything on that.
I didn't realize. Like books and stuff still do that. Like author who come out with like even like scholarly kind of type of books will have the first edition and then like second editions or you know ed amended editions, you know, down the line on books.
I didn't know that. I thought that like the first and second edition when they just changed the coverage.
Maybe, I mean, I don't that wasn't really how it was being described, like it's one of author I I was listening to do an interview, and I know that like for sure, I know like Tom Sole has done like updated versions of like I'll call it with the book and like I don't know, two thousand and eleven, and then they'll come up with like an updated version with like even more up like up to date data to support a point in like twenty thirteen or something.
Yeah, I thought it was always when like maybe this printing press stopped doing it and then they had to go to a different printing press and edition. So that's dope, I got. What's great is when you feel like you created a new idea and you're like, damn, this is new and how it's people gonna take it? But then you realize somebody else kind of did something significantly close, so you get more comfortable, and you also get the reference of that person who experienced that shit the first time.
So it's dope, you know what I mean. And I'm excited about doing that ship. I mean the podcast too.
Yeah, find you can do alternate endings, you can do you can there's a lot of there's a lot of stuff you can do.
With that man, especially like I've been working on this idea called Storytime. I want Ice Teeth executive produce it with me. But like I want to do like so many like stories on the album, but like I'm getting a lot of pressure to turn it into one overall story, and I'm like that shit is hard.
You know, I told you on a podcast a while ago, you should say fuck the hooks and just come out with a giant bar song that's a whole story. That's a forty five minute song.
Yeah, that's not whatever. Like that's more like like roysterefive nine and Joe Budden's and Crooked Eye. That ain't glass Glasses is more like I said, it was storyteller. But how do you put twelve stories together to make one fucking album? It's crazy Like that ain't no punk shit because it can come across hellic corny if you don't get it right. And to write a story like I've wrote different stories, like I wrote screenplays and synopsis that I sold. But to write a fucking album like that,
maybe I wouldn't even know how to approach it. I've never seen it done, so i'd be the first person. Maybe I need to start asking about it so I can't be the first person who knows.
Otherwise I'm just gonna have to, you know, break out my novice penmanship and just buy a YouTube beat or whatever the fuck. It just do a whole.
Rapid just yeah, just what would your rap name be?
Sh I mean, I can only be Rose Gold or maybe everybody else got like numbers and ship in their name. I could be like Rose Gold Primero or something everybody else. I'm the first Rose Gold.
I like that. That's clear, that's witty, Rose Mad, that's all Rose pretty mad. You had you had to lose gold to just call it your stuff out of yourself roads as a rapper, big row. Yeah, and then you gotta wear what's crazy is I was looking at this. I was looking at YouTube from Soul Train, and I was thinking about what made people look like stars? And you know, I was looking at it was different cast from Philadelphia. It was the old J's. They from Ohio.
That's a well, I think they from Ohio. I don't know what OJ's from, but I know you think they were born in yo Oio. So yeah, so I'm thinking about that. But I noticed all of those old groups, whether it's very white, you know, in the Love Unlimited Orchestra, the old Jas, Harold Melvin and the Blue Notes, they would all have custom suits on, Like no nigga should be walking down and street and look like them niggas.
They looked like a bride and brides maids very often.
Don't get me wrong. You could look in the soul trained crowd to see people were dressed, but they definitely wasn't wearing no shit like them dudes was. And I think that's why the stars shine brighter at that time.
Yeah, I mean even I think back in the day like they used like Jackson five was you know, custom and you know, synced up.
I wonder, how would you do that as a rapper because you wear jeans or you know what I mean, Like do you go get custom tennis shoes? You know what I mean? Like if you were trying to do that as a rapper, what does that look like?
I think, quite honestly, that was basically done through the chains. Everybody's chain was largely tied to their own logo, their own brand identity. I think the first really one or two to do it was like the where there was a crew of actual artists was like the cash money and the no limit chains, and a lot of people have those for a long time. It's kind of antiquated.
But yeah, but if you go down from a complete outfit to just a fucking necklace, cause that that's why the stars don't shine. It's bright.
It's true.
It's true. The Budgets was crazy, you know, which kind of brings me to what I want to talk to you about that the Budgets at that time. But no siilings, gl I know how we do this thing here? Like the season is the season three is almost over, so everybody that been fucking with us for three seasons, we're definitely gonna wrap it up for season four. We started a little late this season because I had that for Tellor tendon reconstruction surgery. So we're not gonna take no
breaks off. You know, We're finna go right into season four. You know, starting looks like in February, and we're just gonna pipe it up. On the visual side, you know what I mean, I'm trying to figure out how to make it work because Pete is in Miami and I'm here. It's cool when we had a girls do it sometime, but me and Pete, you know, I need to make sure I got a camera because the girls can be with the camera, but I got to figure out a
way to get Pete on camera in real time. I think we got the audio situation together because we both sound clear, but I need to make sure that our visuals as we start to market through YouTube podcast, our visuals are SYNCD up at that same high quality. So I've been looking at different stuff. And Pete just left right now when we were just talking about the audios, which is crazy. But the term of Ford, the term of Ford, Pete, is the term I wanted to talk to you about.
And we can't afford anything.
No, because you're you into financing, man, as you into finances, right, Yeah, I mean I thought it would be dope to have this conversation with you. Like one thing about it's gonna sound racist, and it probably is, or it's not racist,
it's really prejudiced or is it. It's a stereotype that I would assume as a white person, you're just better with money, or you understand money better because when we talk about money, like I talk to you about money in ways and I never talked to none of my friends about money.
Yeah. Some of that's like you know, like my family in particular, like my dad's you know, like a financial consultant and stuff like that, so I get a lot of that. But yeah, I mean there's there's broadly speaking and there's certainly a gap there. And there's also one thing I've noticed for sure, aside from just in so far as like you know, quote unquote financial literacy goes amongst different communities in the country, there's and I think it's kind of really this is where it kind of
it starts. I from my observations, feel like culturally, like white people maybe are more like save oriented and less like spend it stunt oriented. So therefore, because of that, they're looking for shit to do with their money that's not of the spend a variety.
You know. Well, I guess it gets tricky. Well, let me get to that word afford have enough money to pay for And I think, yeah, so that's shaky in multiple ways, right because I get that concept. But to me, if you're in debt, then the money you have you don't have it. Yeah, it makes sense. So like, let's say if you have one thousand dollars because and you wanted to go buy a watch that cost a thousand dollars, right, right, But you have a credit card and your credit card
is three thousand dollars limit. But you got a thousand dollars you know what I mean? You got a thousand dollars a thousand dollar bill on it, you really can afford that watch. So even if if all your bills is paid right, Let's say it's a second you paid all your bills and you have one thousand dollars left, right, and you have a thousand dollar bill on your credit card, and you want this watch that costs one thousand dollars. Even though this is really hella thin, for sure, you
can't afford that watch. Lord knows if you need more money to buy food during a month, But I'm saying, if you just had an extra thousand dollars, count it outside of your gas to get to work, counted outside of you maintaining your lifestyle for that whole month till you get your check to do it again, you have one thousand dollars and watch costs one thousand dollars with
your credit card bill, you can't afford that. And I think that's what goes wrong with how you know, when you don't have financial literacy and you grow up like this, you don't get how it works, right or this is gonna sound weird too, right, Like I had this thing going to like the last ten years where I'm tired of rappers bragging about their credit score, and I'm like, nothing special about.
Your rappers brag about their credit score?
Yeah? Or people in general, like.
People in general, I never heard a rapper talk about their credit score before. Sure, maybe in an interview or something like that.
Sure, but to some degree they bragged about it. Even culture that's become a bragging point is credit score, And it's like, what is there to brag about your ability to borrow money?
I agree people don't understand and there's ambiguity and subjectivity around the word afford because people don't either a for sure, they don't have a consensus on but they also in a lot of cases do not understand the meaning in application of the word cost. If money is a transactional
metric of time, they don't appreciate what that like. Say, you go back to your thousand dollars thing, Okay, well, yeah, I can afford to burn my thousand dollars on this credit card down for this watch and still have a thousand dollars in cash for my bills for next month. You have to then your time now is going towards paying for that watch, plus the interest on the watch or whatever. At the expense of anything else you might have done with that money. So how much of your
life is that watch worth to you? To some people, it's worth the world. Some people, it's like, Eh.
I had this conversation with somebody really close to me, and I was explaining to them that they believe the Kardashians lived this life where they just frugally jump on jets, like they made this kind of money to where they frugally jump on jets and just do all this random activities. And I'm like, wealthy people don't live like that. And they couldn't really understand what I was saying because television
has programmed most normal people's percession of what wealth is. Like, they don't really have any idea how wealthy people live. They know how upper middle class people live, even people who we could consider rich, you know what I mean, they got more than the average American, right, but they have no idea how wealthy people live. Like if you drive us through Paloverti, you know Rancho Palos verty and
you see Prius in the yard. You see five to fifteen million dollar houses with Prius and Civics and Volts, you know, electric cars in the yard. And I'll never forget you know, I never aspired or y'ah, never aspired aspired to have like this big house. Like I always thought about the tax Like even now that I'm earning, you know, I could put myself in a position to have a three million dollar home, and well I haven't in the next twelve months, right, But all I think about,
Pete is for the rest of my life. Right, if the house is three million dollars, and if the state that the real estate taxes annually in America is one in a quarter, right, all I'm thinking about is thirty thousand a quarter of that's seventy five hundred. So every month for the rest of my life, I will have to come up with roughly three thousand plus dollars just
to pay the taxes on the house. That's how I've always thought, because since I was like fourteen, so I always looked at a house that was three hundred thousand
because I'm like, okay, if I have a child. Now this is back when three hundred thousand we got you out slate with, not today's three hundred thousand, the whole three hundred thousand, But I'm okay if I have a child, right, And I give him a three hundred thousand dollars house, right, and it's at one in a quarter I'm counting, right, I'm like, okay, well that's three thousand dollars for thirty thousand dollars plus a quarter, right, which is seventy five.
Well that's not that bad, right. All they would have to make is was that.
It's a few hundred a month.
That's it. Yeah, you know what I'm saying. And that's how I saw it, Like I just I never saw it any other way. Like I never saw like leaving somebody with a huge tax bill as a thing. But I've always thought about money that way. Sure, I've always
thought about money that way. You know, do I want to leave you a three hundred dollars bill or do I want to leave you a three thousand dollars bill a month, something you're gonna have to sell and get rid of just to have a bunch of money that you're gonna lose, or something you can maintain and always
have a place to stay. So, as somebody to me who was raised financial, financially literate, like yourself, what do you think the average person, you know, let's say, even in the culture like in hip hop, like right street urban culture. People that come up poor and don't get it. What do you think the number one mistake they make is like that that you heard you is like that shit is crazy, and it's the biggest myth of all financial.
Literature, like singular action. It's hard to say. I think in general, the most common thing is people just don't have a plan. They don't have a clue. They just spend whatever money their job pays them, and that's what it is. And if they get some four oh one K diversion or pension diversion, that's what it is. I think the biggest issue is that it's just not anything that's on their mind. They don't have a clue. The other thing is people will buy houses on their lifetime,
not on the market time. So I've known a lot of people break that down, like personally, for example, I came out of college in two thousand and seven. My girlfriend at the time had been out of college. This is two thousand and six. One of my best friends, but I used to stay with an Oakland. The girl and the friend separately each bought houses in like two thousand and six, something like that. I'm looking at this.
Going crazy with George Bush.
Yeah, and I'm looking at this going like, guys, what are you doing? And my guy friend was like, well, no, it's a great investor. This thing is gonna be worth But this was a house, a basic ass tract house in some town I had never heard of, in central California off the five Freeway. I fucking I couldn't even tell you. Between Fresno and Tracy.
Got there a lot of it's a lot of small towns between them.
It was. The town was called Patterson. It's a truck stop with a housing tract attached to it.
Oh yeah, okay.
He paid about a half for it.
Wow.
And I'm and I told him, I said, if that thing's gonna be worth a million dollars, I'm going to be spending ten dollars on a gallon of milk. That's the only way that's going to happen. And the girl wanted to buy a house because was her job at the time, would pay the closing cost. And I'm telling her, I'm like, you don't like paying a rent. The market is sky high, it's not gonna keep it like this. So because you're getting calmed, your closing costs for relocating.
Her rent at the time was like one thousand a month or some shit like it was two thousand and six, and she was just like Santa Clarita, I'm like, it's like twelve grand. You would do twenty grand. I said. The swing on this house when the market comes down is gonna be two hundred thousand. She spent five hundred thousand on a damn house and was stuck with it. Her job was paying her plenty of money, so it was fine, but she was stuck underwater for like six years,
you know. And I think a lot of people are like, I know, people, now, my goal is to buy a house before I'm fortier, before by that time I'm thirty five, I want to buy my house. Well, okay, I mean, if that's what's most important to you, was that goal, it might be painful. They say in general that most people you're the largest investments you ever make is your home,
and statistically that's true. If the biggest investment you're going to make in your life is this one, you should probably do it with some sensitivity to the market.
How does somebody who doesn't know anything about finances know when the right time is they would have to trust somebody, you know, they they'd have to trust somebody who was more or someone who could who seemed more financial literary than themselves do that.
Then I remember talking to a relative of mine who had an issue with you know what they do. They took like a second out on a house or something like that and had a bad loan, right they don't have to sell the house. And they're like, man, have you seen those contracts? Like they're so complicated? And I was like, it's a what you take count like hundreds of thousands of dollars. You couldn't pay five hundred dollars to a lawyer to walk you through the contract.
But you know, that's like an issue to trust people who seem like they want to swindle you for money in the first place, Right, Like, how.
Do you if you're paying somebody for counsel? Just pay them, you know, just pay them for the information. Leave or get on the internet and start researching things to look at market cycles, look at trends, look at the way I mean, if it takes you, I mean, what's it worth to you? I mean, like, say you make a hundred thousand dollars mistake and you make fifty thousand dollars a year. It isn't worth twenty hours of your time to do some research for one hundred thousand dollars potentially.
Great point, great fucking point. So right now is a bad time to buy a house, right if you're going to borrow money.
Right now is like the most expensive time to buy a home ever because the market, like the houses are so high up, it's such low inventory. Prices are sky high, and they didn't adjust downward when interest rates went up because there's no inventory. So it's like relative to real wages, et cetera, various price indexes, it's like about the most expensive time to buy a home in like modern American history.
So what has to happen at this point, Pete, Like, something has to happen, right, You can't have these ridiculously high prices cause and these ridiculously high interest rates. Something has to happen, right, Something has to happen. They can't. America just can't keep manufacturing enough money for people to pay these ridiculous mortagages, Like mortgage is, Like, my point is, I'm like, Yo, the next house I buy, I'm gonna pay for it, and everybody's gonna save your money you
could know. I don't want to borrow four hundred thousand and pay back one million. I would rather pay the four hundred thousand, have thirty thousand, and figure out how to make eight hundred thousand over the next thirty years with the fucking money I have left. But what I don't want to do is finance. Like I was telling you this today, like I'm trying to. I'm so done being in debt completely. Like all my credit card bills are zeroed off, right, The cars I own, I own
them all right? Right, the cars I own, I own them all right. The property I have at this point and be paid off next year whatever I buy, Like I'm telling you I want to buy a new truck. The truck is one hundred and forty thousand. I'm like, look, I can't afford to go walk in there and spend one hundred and forty thousand dollars. But I don't want to finance it. I don't care even if my rate is four percent to me, I can't afford it. Like
I can probably afford the monthly payments. Let's say the monthly payments if I put down thirty and forty thousand, let's say the monthly payments is fifteen hundred. Yeah, it's fifteen hundred roughly, right. I can afford the fifteen hundred as far as I can manufacture the money every month, but I can't afford to live and do everything I want to gamble with in life or chances I want
to take. If I take on that debt sure for a truck, that that while I want it, once I show it to my friends, I'm not gonna do what it takes to monetize it. So in my mind, even though I can pay the monthly payments, I can't walk in and just pay for it, you know what I mean. I don't have you know, if I have one hundred and forty thous that's all I got. I'm not taking no money on no house. Is not as serious because it's not something I'm looking to invest in, or it's
a personal item that's just for me. Right, I'm not finna send it on the road to told cars, So I'm not buying ship. I'm not. I'm gonna figure out how to get a diesel pickup truck like I want right to drive around because I want the knowledge and the longevity of the truck. But I'm not fucking with none of that ship where they finna be financing no property or I'm not finding. I'm not finding. I'm not borrowing money on nothing but things I'm planning to make
money off of. That's it borrowing money for record labels. Yeah, it looked like I probably end up doing a record deal. I'll borrow money for that. I'll borrow money for the cryptstore dot com because that's my business. I'm not borrowing money to buy that. I just want that's not worth anything. That means I need to make more money, you know what I mean. So like, even as I sign a
record deal, I'm not going to buy another car no more. Now, I'm going to the record deal when I started making if it's meant I would start making the money I need to to be able to afford anything extra or luxury that I need.
Yeah, yeah, that's and that makes sense. I think a lot of people are you know, you're you're you're limiting
your exposure in that regard. You know, if you say, okay, at the very least, my basics don't cost me anything additional from what they otherwise would, so I can take my risk over here on the monetary side, or you would say I'm going to borrow on this stuff here and take my cat and try to do that on the business side, which still if it's your cash cash and the business goes under, now you're stuck owing on
your basics. So if you're gonna be having risk on the business side, you should probably not have risk on the personal side. I get that, Okay.
So even now, like right as I start to like I'm finished cash, who checks over the next eight months, I'm calling you, Pete, let's looking at a house over here. You know, I'm not even looking to make money. I'm like, I know if we get this, this is the storage of money. Yeah, Like I have you, I said, I call you, and you won't make sure whatever I buy, whatever we buy, if I buy it or we buy it, you're gonna be like, Okay, that money is there, sure, almost Like I can get a fucking credit card and
that's that money from this house. Yep, there's not outside of emergencies. There's no reason for me to need this money if it makes money excellently. But I'm looking that ways to store money.
Yeah, And because money is globally, like people talk about like the dollars strong against other currencies the way currencies have become because they're not tethered anything, and they're all losing value. It's like if you were flying in a little propeller plane you started throwing a bunch of objects out of the plane. You could throw it an anvil, you can throw a rock, you can throw a pillow, and you could throw a thing with a parachute attached to it. You know, they're all going to go down
at different rates from the plane. You know, it doesn't mean that because the parachute's winning, because it's staying closer to the plane that it's not going down.
So you sell even if you buy a house, you're want to lose money.
No I'm saying that.
I'm sorry, I'm missing.
The pathway right now. Of what's happening with the with currency, with the dollar is the value is being sucked out of your dollars. So if you're sitting on cash, to sit on it, everything around it like the like price like it. Like if it was water. Let's say and you had your nest egg is in a big iron
chest on the floor and now it's flooding. Well, your nest egg is staying there and the water level is going like this, So it's it's just it's just drifting further and further and further away from the surface, which is its purchase power.
So if you just having the candies you're talking about.
Yeah, you need like a value oracle. You need to buy anything else. I mean almost anything else. I mean there's stuff that's going to go up and down. So depending on how time is sensitive, you think your exit might be. But for sure, for sure you want to get out of cash. Your your money is losing value for sure.
That's why I mean cash money.
Yeah, if you just have cash sitting in the bank account, you're not earning anything on it.
It's I can get it. Because if you had one million dollars in a A and a let's say not a savings account, you had it inside of one of those oh what's those things they have at the bank lock boxes?
Oh, like a safe deposit box.
Yeah. So if you had a million dollars cash in nineteen eighty two and then you win I mean nineteen eighty four, and now you're coming to pick it up forty years later, you fucked up because whatever you could have bought for a million dollars in nineteen eighty four. You can't get none of that shit in two thousand
and four. Okay, so I'm not tripping. So so even though I'm not as financially literate as you, but my math madics is not failing me in the concept of like, Okay, it makes no sense to have dollars, like, let me look at properties, let me look at things that have to rise and do things with money itself, right, like you, no matter what, I'm going to have this money in
this property. Like, don't get me wrong. You can invest in the wrong shit or lose it, but you know, having the right people around and say, okay, this right here is going to be worth this. Yeah, even if it doesn't gain one dollar, it's going to be worth this. And God willing, we could do a couple things and now make that money, you know, worth more money, or not even worth more money, literally adjust with inflation.
My current book that I'm reading by my main man, George Gilder, The Scandal of Money, Why Wall Street recovers but the economy never does.
I'm have to get that the greatest book.
My god, it's it's work, but it's it's beautiful it's just I just love it.
But with your financial literacy anymore, Yeah.
Yeah, if you understand how to apply it, for sure, it's one of those things. I want to read that whole thing, soak it in and then start taking that to market, just to be a little bit better. But as far as predictive nature on the macro side, it really dials it in. It's it's it's a lot of theory, it's a lot of history, but it's informed it like, and it's written in such dense English. If this was like written to be read quickly, it'd be this thick.
I mean, this is six hundred pages of literature and one hundred and eighty pages. But he talks about like value oracles and stuff like that. So you know, for a long time the dollar was pin to gold and we were taking off the gold standard, and you know, there's a lot of talk that now all these currencies are kind of floating and they're semi tied to each other. I mean, the problem is it's kind of like that
airplane analogy. You took a bunch of different objects of different weights and shapes that might fall to the ground a different rate. They're all tied together kind of by the same rope where they're just kind of all drifting downward. One thing this points to is like gold value, so
like gold pricing. He's this book says that the gold price of oil, meaning that if you were transacting in gold in nineteen seventy, as the dollar was pinned to gold, and you were buying gas, a gallon of a barrel of oil would be like two dollars and eighty nine cents today in gold prices. But the dollars drifted so far from gold that while gold isn't any more valuable relative to oil, it's way more valuable relative to dollars. So you might think everybody's brain thinks in dollars, right,
which is natural. But if you just bought gold and you had a long term time exit strategy, eventually, over time you're gonna realize, wow, my gold has gained so much value. It's probably not so much the gold is more valuable today, it's just that your dollars are less valuable today.
So why not buy the fucking oil? Like what why are we buying things that don't have a serviceable mean today? Need living like and I do think gold obviously they did need gold at a time, and gold has some value, but it's not fucking oil oil. Like if you had a fucking barrel of oil forty years ago and then you had that fucking barrel of oil today, that shit is out of this world. I mean, and I don't
want to he was a term investment. I'm like, yeah, really sketchy about that word investment, right, but I'm saying, for sure, there's better ways to put your money up. Yeah, then just and go right.
Put it this way, Like the US government is spending like four and a half trillion dollars a year right now, that money is going somewhere. The money, the expression is, the money has to find a home. So I was having a conversation today with my buddy Jamaica. Andre was talking about Biden keeps starting all these wars. The funny thing is Biden's paying for both sides of these wars. Sure, paying Russia and yeah, especially.
Right now, all the winner owe you anyway.
Yeah, But at the same time, it's all contract driven. The money has to have somewhere to go, you know. I've seen, like, however, money bazillions of dollars we spent on various green energy projects because they passed the bills and the money has to go somewhere. So really what's happening right now is like that to be two, you know, in the weeds. But they keep raising and raising and raising, like public employee pensions right just all the time, more
and more and more. So what's happening is they pass a bill flood these commitments to raise these pension plans. The pension plans have managers. In the most common case, it's Black Rock, which is a giant fund that controls about ten trillion dollars as one singular fund of assets under custody, and they take that money and they buy stock at a bunch of different companies and the stocks
go up. So like you know, you pass a low saying we have to make electric cars, throw a bunch of money into the market, and everyone takes that money and sends it over to Tesla to go buy the cars to prop up the stock because the money's losing value, so you got to put into something. That's just kind of the issue. The problem is, I think there is a major consumer culture issue right now in the country.
The credit card that is like through the ceiling all time, so a lot of people got money to burn, and they're just burning it if they're not planting it.
It's it's kind of hard to have a real conversation because, don't get me wrong, there's a there's a class of people in America that they don't even have the true position to plan economically. Sure, right, there's there's a there's a class of people. It's not a huge class, but a realistic class. Right. But what I'm thinking about is if everybody's great, this investment is a house, like right, and in a time like now where you shouldn't buy a house, you should just be preparing yourself to buy
a house. But then how do you keep the dollars? Like you don't think that the the economy is getting really crazy to where like right now, if you're just saving money, right, you're like, Okay, this is not a great time to buy house. So I'm going to say four hundred dollars a month. But then by the end
of the year you had forty eight hundred dollars. But now next year inflation has turned that forty eight hundred dollars into twenty two hundred dollars, Like you almost have to be And this is the problem with and I don't want to blame capitalism because I genuinely don't believe capitalism is no holds bar, and I think I keep hearing that, right. Me and Charlotmagne talk about this all the time, and he calls it compassionate compassionate capitalists, which
don't even make sense. But I don't think capitalism is about selling out. You know what. Wealth has changed, And I guess that's the point I'm saying, Pete, wealth has changed wealth when when Hershey, the guy that started Hershey's in Hershey, Pennsylvania, they started to it wasn't just economics.
It was like the respect you got amongst other human beings in your country, in your location, for being the center of an economy, you know, right here for so many thousands and thousands of people, right, That was a part of wealth. It was never just you know, I
need a trillion dollars. It was like whatever, the surplus amount of money I made was cool, right, and the means that I can keep, Like we talked about it before, where you could the people started like Sam Walts and could keep trying to revolutionize the experience for human beings right in America and the other part of the wealth was like the fact that they were responsible for an economy of people fulfilling their dreams of owning a home,
putting their kids in a separate situation to where they can go out and really take a shot to be Hershey, and now wealth for most human beings has been reduced down to just the amount of money you're making or this weird space of and culturally, this is another thing. When I say culturally, I'm not talking about blah blah blah. You know, I'm talking about street urban Whereas you have a term generational wealth where you got a bunch of people talking about leaving a bunch of money to kids.
That don't really make sense because if you're making a living in that space, your kids should be being prepared to go out and do the same thing, so you shouldn't have to leave them. You should be able to take that kind of money and you know, once you pass away, take a minimal amount and give it to your family so they could keep pursuing the things you
were showing them growing up. But also to a bunch of underprivileged people who didn't have you as a father right to go out and Okay, maybe this could help change one out of one hundred people's lives, you know, but you know, let's put it back into people who don't have any chance, who didn't grow up with these opportunities and advance, you know, positioning as let's say, my kid.
But now it's just being switched to how much money you have, Like, so how do you combat that because at this point, like you're saving money forty eight hundred dollars, but the money is the inflation is so bad and the dollar bill is losing value so quickly that that forty eight hundred you saved in twenty twenty four might be worth twenty six hundred and twenty twenty five.
Yeah, and that's the issue like with regard to you know, like I don't want to say like the scandal of money that in so far as the context of the book, but the phrase what's happening right now? That that's why you see these like macro terms about oh, biodnomics is doing so well. Look at the aggregate data of the performance of whatever you know index they're choosing from. The problem with that is surplus capital is being put into
stuff that's exploding in value relative to the dollar. So the greater your ratio of wealth that is not confined
to your primary sustenance. You're just it's amplifying the ability of people of greater wealth to just run the fuck away from people of minimal wealth, because if you're only able to put two percent of what you have in the you know, just like the Magnificent seven Stock Index, which is the seven tech companies that have taken on trillions of dollars in market capitalization value over the last year or two, like you only are going to get you know, you went from two percent to three percent,
you know, whereas somebody else who took eighty percent of their wealth and put it into those things went from eighty percent to one hundred and twenty percent.
You know.
So yeah, it's it. It makes it really, really, really tough. And like I said, I'm in it. I'm not rolling in cash. I'm just pinching every nickels your shot.
You're shooting your shot. You need one thing. Once you get one thing to hit, then you can reposition yourself, you know, within a within the opportunities.
But I've whittled down my per diem expenses to like not a I mean I cooked a big old thing a jambalaya on Monday. It was good as fuck, but it cost me like thirty six dollars to do all the ingredients. Cooking from scratch every single day. I'm like peanut butter and honey sandwich, glass of milk cuban coffee for lunch, I'm making an earth for breakfast. I'm making an almele in the glass of orange juice at lunch, and then I'm having either whatever I cooked or whatever
my leftovers are for dinner. So on a four day spread, my per diem is like I swear to God nine dollars for life per day. So what that enables me to be able to do? I could soak up some money and throw it into stuff. Dude. Side note, I got so fucked yesterday there was an announcement that and then they announcement came today. Anyway, I knew that was gonna happen anyhow, it was so stupid. So yesterday there's an announcement that this the SEC was going to approve
bitcoiny fts. It's a lot of financial jargon making it legal for institutions to buy bitcoin drive the price a bitcoin. So I see that in an email and I go, oh, it. Crap, it's after hours. I'm going to do this right now. So I moved like eleven and a half grand over to do this. Before I did that, the previous email says SEC gets hacked, said SEC gets hacked. I'm like, I don't care where the SEC fuck them. The email I get afraid through the transaction says SEC Twitter hacked.
I go, that's odd. I click on it. The announcement from the previous email that spurred me to make the purchase was apparently the result of their Twitter getting hacked and the announcement being put out falsely because I couldn't figure out after I bought it why the price kept going down and I'm losing hundreds of dollars before my very eyes, and then it was the result of a Twitter hack. So I'm like, fuck now I'm stuck with
this shit. I got how long it would be stuck with this bitcoin till it goes back up and I can just get back to zero again. So I wake up in the morning and for whatever reason, they make an announcement. They say, oh no, no, we're going to prove it. So it goes back up. I sell it Crypto dot com from the name of that stupid arena downtown rips two percent out of my transaction, so my profit dissolves. But I ended up actually, I mean coming back to
within a dollar of where I started. Through the whole Twitter face scam scandal, it was a joke. Stressed me out for like twelve hours.
So stupid, I mean, try to risk it to get the biscuit. You know, if you're trying to hit in this world, if you're trying to hit, you probably gonna have to take some sick gambles.
Sometimes I've taken a couple of them, man, taken a couple of them. But what you gotta do.
Good looking out for tuning into the Note Sealers podcast. Please do us a favorite, subscribe, rate, comment, and share. This episode was recorded right here on the West coast of the USA and produced by my homeboys A King for the Black Effect Podcast Network and nine Heart Radio year