- Home
- Latest Episodes
- The Runaway Slave and Black America
The Runaway Slave and Black America
- 09/05/2012
- with C.L. Bryant
Recommended Reading
-
Runaway Slave Movie
- C.L. Bryant
The creator of the documentary, "Runaway Slave," discusses economic problems facing the black community.
A former President of an NAACP chapter, C.L. Bryant discusses his film, "Runaway Slave." Bryant talks about liberal leaders actually hurting the Black population and how Big Government is the “new plantation.” He also debunks the myth that Blacks are still under oppression and calls for Blacks to seize the freedoms and opportunities in front of them.
Announcer: It’s time for another episode of Stansberry Radio, the show that’s too loud for radio. Here are your hosts, Porter Stansberry and Aaron Brabham.
Aaron Brabham: Welcome to another episode of Stansberry Radio. I’m Aaron Brabham. Of course, I have my cohost Porter Stansberry. Porter, how you doing?
Porter Stansberry: Hi everybody, glad to be here.
Aaron Brabham: All right, today we’re interviewing C.L. Bryant. C.L. is the former president of the NAACP Garland, Texas, Chapter; he is also the creator of the new documentary Runaway Slave which is in not that many theaters across the country but they’re starting to beef up a little bit.
Porter Stansberry: Racist, this guy’s got to be a racist.
Aaron Brabham: Has to be, right, listen to the title.
Porter Stansberry: Runaway Slave.
Aaron Brabham: Don’t know what it’s about –.
Porter Stansberry: But wait a minute, you said he was the president of the Garland, Texas, Chapter of the NAACP.
Aaron Brabham: That’s correct.
Porter Stansberry: Hmm, contradiction.
Aaron Brabham: Woo, this is – yeah, I don’t know –.
Porter Stansberry: Contradiction.
Aaron Brabham: I don’t know what this is all about but we’re gonna find out.
Porter Stansberry: Should be interesting, should be interesting.
Aaron Brabham: So you came in really excited this morning because you read a piece written by Jeff Clark, he’s one of our analysts.
Porter Stansberry: Yep.
Aaron Brabham: He, of course, does the short report, he’s a great trader, and you say it’s one of the best pieces that Stansberry has published.
Porter Stansberry: It might be the best essay we have ever published –.
Aaron Brabham: What, wait a second, you have –.
Porter Stansberry: Yeah.
Aaron Brabham: A lot of top ten essays that have – your GM ones.
Porter Stansberry: I’m telling you, this blew me away, it is so brilliant, and I can only urge people to go read it, I can’t make you read it. But it’s not anything about, you know, how to get richer, it’s just a fantastic way to think about the world. It’s a two-part essay, it’s called A Mickey Mouse Tax Plan To Save America, Part 1 and Part 2. It’s in the Growth Stock Wire, it was written by Jeff Clark. You can go to the GrowthStockWire.com, I’m sure, and search for Mickey Mouse and you’ll find it. But it was published on Wednesday, September 5th, the part two is, and there is just a part in this that I just – it just blew me away, I had never done this math, and you know, I’ve done every kind of number crunching imaginable on our government budget and these problems, right.
Aaron Brabham: That’s how you created The End of America, you worked on it for four straight years. You know every number that they put out.
Porter Stansberry: At one time, I have known every number, they come and go, but I had never thought of it this way. Here is one small paragraph, he says, “The U.S. government plans to spend a total of $3.8 trillion in 2013,” and I know that’s true. “Since we have roughly 315 million people who call America home, each person would be required to pay $12,060.00 to say here.”
Aaron Brabham: Sounds about right.
Porter Stansberry: So the whole idea of his Mickey Mouse tax plan is that when you go to Disneyworld or you go to Disneyland, he took his family to Disneyland in this case ‘cause he’s out in California, everybody pays the same thing.
Aaron Brabham: Yeah, there’s no breaks.
Porter Stansberry: No, everybody pays exactly the same thing to enjoy the park. And Disney is a wildly profitable company, and they set the ticket prices based on what people can afford, so that they can maintain the park and pay a fair return to shareholders, very sensible.
Aaron Brabham: I think you’ve even brought up this analogy before when we were on the radio and you were like every person that goes to Disney, you’re spending 1,000 bucks, pretty much.
Porter Stansberry: Yeah, exactly. I mean family of four, $1,000.00 for a day at the park –.
Aaron Brabham: A day.
Porter Stansberry: With food, souvenirs, blah, blah, blah, right. But what I’m saying is, if everyone in America had to pay the same way you have to pay when you go to Disneyworld, it would cost $12,000.00 a person to live in America.
Aaron Brabham: And not everybody is paying that.
Porter Stansberry: Well, not only that but there’s no way everyone could afford it.
Aaron Brabham: No.
Porter Stansberry: There’s just no way. That means a family of four, it would cost $50,000.00 just for taxes.
Aaron Brabham: No way.
Porter Stansberry: So, when you look at the budget that way it just becomes abundantly clear, there is no way in hell we can run our country this way ‘cause we can’t afford it. And at the end of the day, yeah, some people earn more than other people, I get that, yes, of course, and you can say people who earn more ought to pay more, okay, that’s a political claim, I’m not gonna comment on it, everyone’s got their own political opinions like everyone’s got a nose, but I can tell you the economics of it. It doesn’t matter that some people make more than others, the country as a whole only makes one sum, and that sum, that productivity comes from all of us, even though some of us have higher incomes and some of us have lower incomes, the productivity comes from all of us. If you’re charging all of us $12,000.00 a year against our productivity just to run the government, there’s no way we’re gonna make it.
Aaron Brabham: No way.
Porter Stansberry: Not even close. So anyway, I want to reiterate, you got to go read this essay, and please if you were impacted by it the way that I was – and by the way, you got to know, this is not an advertisement, I am telling you, I walked in this morning right after I had read it, this is all real. Most of the stuff we publish isn’t even a tenth this good. I’m not saying this ‘cause it’s my publishing company or because I think Jeff Clark’s a good writer, he’s a great writer, everyone knows that, but just read this essay and think to yourself, if this isn’t just the most lucid, sensible way to attack these problems. And if you feel that way, then forward this to someone who can do something about it, whether that’s your local big shot, politically connected lawyer or your local congressman or whoever it is that you talk politics with, make sure they see this.
Because I think if there was some way we could get this question in front of the candidates during one of the presidential debates, I think it would change the entire tone of politics in America, ‘cause neither candidate, what is it, what’s the name of the candidate, the Obamney?
Aaron Brabham: Obamney.
Porter Stansberry: Neither candidate is –.
Aaron Brabham: They couldn’t answer that.
Porter Stansberry: Neither candidate is going to address this point.
Aaron Brabham: No, they’re not gonna address it at all.
Porter Stansberry: They’re not gonna address the underlying economics of the point, either, whether they address Jeff Clark’s particular essay. They’re not going to explain to the American people that the fundamental premise of how we’re running our country today will certainly bankrupt us.
Aaron Brabham: Certainly.
Porter Stansberry: Yes. Now, listen, people have been on my back, saying, oh yeah, but now, Mr. ______ of America, you say there were a bunch of oil and now everything’s okay. No, I didn’t say that at all, I said the oil resource that we’ve discovered could help us solve our fiscal problems but not unless we get our spending under control and right now we’re not gonna.
Aaron Brabham: No, there’s no chance of –. I actually watched a little of the DNC last night, instead of shying away, they championed every dollar they spent, saying that we need more money. They are not going the fiscally conservative – there’s no austerity in a democratic platform and very little in a Republican platform.
Porter Stansberry: No, in fact, there’s only claims of austerity in the Republican platform. There’s no actual austerity at all.
Aaron Brabham: Yeah, they’re talking about like slowing debt down but nothing about balanced budgets or anything like that. Who is the guy that used to be –
Porter Stansberry: No, and they want to slow the debt down by raising more tax revenue. Now, they call it tax cuts –.
Aaron Brabham: Yeah, they call it cuts.
Porter Stansberry: Because they plan to lower the percentages that are charged, but they know by lowering the percentages, they’re going to increase the tax participation and raise revenue. There’s no actual – there’s no forecast by either party to reduce tax revenue or to reduce on a nominal basis government spending, there’s none.
Aaron Brabham: No.
Porter Stansberry: Can anybody explain that to me? How is it that we are going broke as a country and not one of the two major parties offers a plan to actually, legitimately reduce the size of government?
Aaron Brabham: Not only am I more convinced that we’re going bankrupt but I’ll tell you something I watched last night that was way scarier than your hour-long End of America, it was – I was watching Neil Cavuto and he was interviewing the dude that Walker – I can’t think of his – I don’t think it’s Scott Walker.
Porter Stansberry: The comptroller.
Aaron Brabham: Yes, the comptroller.
Porter Stansberry: Yeah, David Walker.
Aaron Brabham: David Walker came on, and I’ve seen him a few times, he brought the flamethrower, he broke it down, he was like, no, it’s not $16 trillion, it’s $70 trillion. His numbers more match up to what you talk about. But he was ruthless and relentless to both parties and was like this is stopping, the carousel is stopping soon, every American better wake up, this is it, this country is done unless somebody does something radical. And Cavuto was like, do you think America is ready to hear that, and he was like, I don’t care if they’re ready to hear it, this is the end of the line.
Porter Stansberry: Wow, yeah. Well, and the thing that occurs to me is people were all over me about my End of America piece, drawing the conclusions of the trajectory that we’re on, right, but the fact is, it’s gonna be way worse than I was suggesting.
Aaron Brabham: Yes, it’s gonna be worse.
Porter Stansberry: It’s gonna be worse. And I’m gonna be – people are gonna look at me and they’re gonna say, oh, you got it wrong, you weren’t – it wasn’t bad enough.
Aaron Brabham: It’s coming.
Porter Stansberry: Yeah. Or they’re gonna say, oh, you didn’t predict that because you suggested a way that we could get out of it.
Aaron Brabham: Right, which you’re not saying that, you’re saying this will be great for America but it doesn’t change the behavior of Congress.
Porter Stansberry: Yeah. Our oil production has the capacity to increase federal revenues $250 billion a year alone, and royalties and taxes directly from the oil that’s produced out of the ground by the Bureau of Land Management, their share of the royalties, $250 billion, okay. That doesn’t include every other part of the government’s touch of that revenue stream and every step along the way –.
Aaron Brabham: And all of the income. I mean –.
Porter Stansberry: Every step along the way it gets taxed, right. It gets taxed when it goes into a pipeline, it gets taxed when it goes into a refinery, it gets taxed when it goes into your car. The people who are employed to move it all along those places, their incomes are taxed, right. The total tax revenue of this thing has got to be $500 billion a year, it’s got to be, right.
And then not only that but in terms of strength of the dollar, the money that we don’t have to send overseas to pay for oil is money that is going to be able to be invested at home and that’s gonna strengthen the dollar tremendously which will give us more financial flexibility and prevent the possibility of a collapse in the bond market, which as you know is the real message of the End of America piece that I wrote.
Anyway, if there’s anybody listening out there, here is all you have to understand. If the Republicans are elected, we will face a fiscal crisis; if the Democrats are elected, we will face a fiscal crisis. I can’t tell you if it will happen in two years or in four years or in six years but I can tell you it will certainly happen. If we want to avoid it, the thing that we could do is exploit our domestic energy resources and cut the size of government. Bam, problem solved.
Aaron Brabham: Yeah, it’s that whole cutting part that they don’t seem to understand.
Porter Stansberry: But I can’t tell you what’s gonna happen ‘cause, guess what, I don’t have a crystal ball –.
Aaron Brabham: No.
Porter Stansberry: Or as Rick Rule likes to say, I got two balls, neither one of them are crystal, what do you want.
Aaron Brabham: I like that, that’s a good quote from Rick. So let’s go to the interview. On the phone we have C.L. Bryant. C.L. is the former president of the NAACP Garland, Texas Chapter. He is also the creator of the new documentary Runaway Slave. Mr. Bryant, welcome to Stansberry Radio.
C.L. Bryant: Well, thank you so much for having me on.
Porter Stansberry: C.L., I watched your movie yesterday, somebody sent us a PR version, and I got to tell you, it was one of the only sensible, thorough pieces of media I’ve ever seen in my entire life. It all makes sense.
C.L. Bryant: Thank you so much for that. We are hoping that the coverage can be much more widespread. Like you and many of our friends like you who have said the same things, we feel it is one of the better documentaries that has been made.
Porter Stansberry: So, C.L., the tradition on our podcast is – and believe me, I’m very sincere about this, we are huge fans of your work, we talk about these same issues on our radio show all the time, but our tradition is that we ask our guest tough questions. You won’t have any problem with these ‘cause you’re a man of integrity, but we don’t want to be the Larry King softballs of radio, so we’re gonna ask you some tough questions on your view.
C.L. Bryant: Let’s go for it.
Porter Stansberry: And I’m gonna start with this, what would you say to people in the black community who would accuse you of selling out to the Republicans and to white special interests by – because you’re trying to get the government out of the black community and that could result, in the short term, in people losing funding and privileges that they have earned through the political process?
C.L. Bryant: The whole idea of the name of the Runaway Slave is this, it took courage enough to say to the master, white masters, progressive liberals, what have you, I don’t want your housing, I don’t want your clothing and I don’t want your food, I want to find freedom on my own, just like everyone else in this country has over the course of its 236-year history.
The Mayflower pilgrims were not guaranteed that they would make it to this land, and they certainly weren’t guaranteed that they would survive in this land. Just like that runaway slave, when he decided to say no to the master, he decided to say that I don’t know if I’ll ever make it to freedom but I’m willing to risk whatever is necessary to gain it individually for myself.
Porter Stansberry: It is such – it’s not even a good message, it’s a beautiful message and you can absolutely count on us to repeat it for ya. It’s the same thing we’ve been saying for years and years and years. Let me ask you a tough question about the black community in America today. We have a terrible problem of broken homes, leading to high school dropouts, leading to extremely high crime rates, and I know that part of the problem was caused by the policies of Lyndon Baines Johnson. I have actually written about the destruction of Detroit.
Detroit, as you may know, was the first city in America to be a part of the Model Cities program, and of course, the whole thing was fostered by politicians in order to buy votes and it resulted in the destruction of the black community. But the question I have for you is where – how could I explain this, where does the fault lie? Because in Baltimore, we have about 300 homicides a year. I’m gonna say 97 percent of them are committed by young, black men under the age of 25. Whose fault is that, is that the fault – is that a race problem, is that a family problem, is that a government problem or is it an individual problem?
C.L. Bryant: It is a combination of the failure of our society as a whole, beginning with the breakdown of the family and then the coopting of the church institution, particularly the black church institution. The black church, like many other institutions including the NAACP, has been thoroughly and very successfully coopted by the progressive left, leading them to a mindset of what we now know as black liberation theology, which puts in mind the color of skin above Christianity.
Black folks, traditionally, had been very rooted and grounded morally in Christian principles which kept them away from such high crime rates back in the ‘40s and ‘50s. In fact, before the ‘60s, the marriage rate in the black community was right there and sometimes slightly higher than the white community, and even during slavery itself, as you heard Dr. Thomas Sole say, most black children were born to two-parent families.
And so we see a trend that has happened since the Johnson Administration towards violence, toward education or the lack of it, and toward unemployment in the black community, and I’m telling you that it’s by design.
Porter Stansberry: That is a very controversial thing to say and you’re a brave man to say it. I can just tell you, in part of the movie you’re walking along a railroad track with a big axe in your hand and you are a very large, strong man, C.L., and I think if more of these black kids that are out there committing crime and killing people had to deal with a father like you at home, that there’d be a lot less crime in Baltimore.
C.L. Bryant: I had to deal with that type of father and grandfather myself. My grandfather, I say this everywhere I go, I give him credit for where I am. When I was very Afrocentric back in the early ‘70s, and as you saw I was once the president of the NAACP in Garland, Texas, but he came to me, or I came to him, I came down to his house and he pulled me aside and he was very upset, and he said to me, “Sonny, I didn’t go through what I went through so that you could be black, I went through all that I went through so that you could be free; free to talk to people that I never got a chance to talk to, go places I would never get a chance to go and to say what’s on your mind like I’ve never had a chance to say.” And the only thing I can hope is that somewhere around the Throne of God he’s happy.
Porter Stansberry: Yeah, that’s a very powerful message. Okay, I got one more tough one for you then we’re gonna talk more about the movie. I’m interested in how it got made and I want to talk to people about where they can see it. But the one last tough question I have for you relates to abortion. I thought one of the most powerful messages of your movie was the figure that you gave that there had been 30 million black abortions since the early 1970s, and I want to ask you about that in a broader sense.
I understand that you have a moral opposition to abortion, and that’s – I think that’s fine, a lot of people do, I’m not as interested in that because it’s clear-cut to me why you believe it. But I wonder, how do you think that has impacted the black community as a socioeconomic impact? There are just simply less black people in America than there would be, you’ve lost some of your powers as a voting group, you’ve lost a lot of your ability to earn money in terms of for your entire – for your communities, ‘cause you’ve lost probably 15 million working men. How big of an impact do you think abortion has caused the black community across America?
C.L. Bryant: It has incredible impact in many ways. You were talking about violence earlier. The reason it’s so easy for a young black man to take another young black man’s life is because when you don’t value, as we say in the film, the beating hearts inside the womb, how then can you value the beating hearts outside of the womb and it sends an incredible message that you can just destroy the life.
Also, when you look at 2008, when there were more black babies killed in the state of New York in their mother’s womb than were born, it also sends a message. But then I have three daughters and one son, and all three of my daughters are adults now and have grandchildren for me with their husbands, and my son with his wife. Now, all of them are independent individuals, born separately of their mother, my wife of 37 years, 38 years now, Jane. They’re not a part of their mother’s arm, they’re not of her kidney or anything, they’re individuals, and so I value the right of them to do with their bodies as they want to, but I don’t give them the right to kill my grandchildren, the same way as I didn’t give my wife that option, to kill my children, because they are individuals.
But what we’re looking at here is a blanket statement saying that a woman has a right to do with her body as she wants, and that is true, but a woman does not have the right to do with life that God has placed in her body as she chooses, that’s the line that has to be drawn.
Porter Stansberry: Yeah, I think that’s clear to most people, that – but I was more interested in the outcomes of abortion, as you saw, and perhaps the loss of political power, perhaps the loss of earnings potential for the black community. Do you know –
C.L. Bryant: Well, let’s look at this way, let’s look at it this way, then, okay. Let me answer your question. When you look at 14 percent Latino population and now a dwindling 12 percent of African-American population, when you look at a growing population of those who are influenced by Islam in this country, and you look at a dwindling population of black folks in this country, two things you can determine from that, either black folks are dying off, which we are, or the others who are growing minorities are not killing their children.
And simply by sheer numbers, in 20 years, if this trend continues you won’t have to worry about black teenagers ‘cause they’re not gonna be around. But Latinos – not saying that they’re any less valuable or anything than black folks, or Muslim, not saying they’re any less valuable, but by sheer numbers their ideology and their worldviews will –.
Porter Stansberry: Well, but isn’t that funny, like I thought it was funny that you had to characterize your comments, because I don’t think there’s anything wrong with being a black man and saying I want what’s best for the black community and abortion is hurting the black community and we should do our best to put a stop to it.
C.L. Bryant: Absolutely.
Porter Stansberry: And I think it’s so funny that in our country, where there is more racial equality than there is in most other places in the world, that we still feel so touchy about these subjects. You know, Aaron and I, my cohost, C.L., we graduated from the same high school in central Florida in the early 1990s, I graduated in ’91, I’m not sure if Aaron every graduated.
Aaron Brabham: I don’t want to comment because we’re not going there right now.
Porter Stansberry: No, you graduated in ’92.
Aaron Brabham: ’92.
Porter Stansberry: Yeah, and we had close friends, and when I say close friends, I mean you know how you are when you play sports and you’re very close with people in high schools, it’s the brothers that you choose, and we had all the rainbow, right, we had black people, we had Asian people, we had a lot of Puerto Rican kids in our community, and we were all close and we all loved one another, and many – I’m still very close with a dozen of these guys.
I didn’t grow up in a world that was racially polarized but I did grow up in a world where racial differences were distinct and interesting. And believe me, the Puerto Rican family was a lot different than the black family and the black family was a lot different than the white family and the white family was a lot different than the Asian family. And amongst ourselves, all these differences were fun, we could talk about them. But as I’ve gotten older, it seems like the ability to communicate these things always come with a negative connotation and I don’t know why that is still in our country, it doesn’t make any sense to me.
C.L. Bryant: One of the reasons is the people who, in fact, claim to be the party of the rainbow, the Democrat party, are in fact the ones who propagate or support and prop us racist attitude in this country more than anyone else. I’m 57 years old and I grew up with a segregated ______. I remember Negro Day at the fair, I remember that that was the only day in the entire year out of a two-week run at the State Fair that negroes could go to – as we were called then, could go to the State Fair and enjoy any of the rides. And it appeared that even then the white folks controlled the weather because it always seemed to rain on Negro Day. [Group laughing.]
But – and of course, we laugh about it now because we’ve come so far, and it can be laughed about and it should be laughed about, even though it was very serious then. But just the same, I – whites and blacks in the south, and my next film, Red, White and Black, will deal with this issue.
Porter Stansberry: Ooh.
C.L. Bryant: Have much more in common, actually.
Porter Stansberry: They do.
C.L. Bryant: ________ any other group of people that are white and black in this country.
Porter Stansberry: I agree completely.
C.L. Bryant: Yeah. And so that’s a huge topic.
Porter Stansberry: It is, yeah. Well, I’ve got one more political question for you, C.L., and then we can let you get out of here, I’m sure you’ve got better things to do. But I also want –.
C.L. Bryant: I’ve got to catch a plane.
Porter Stansberry: Good, good. Well, I also – I want you to tell us real quick how can people watch your movie if it’s not being shown on theaters where they live?
C.L. Bryant: Well, if it’s not in an area where you are, I recommend that you go to the AMC Theater, you go to the Regal Theater and you demand it, because our plan is to roll out this movie to at least 150 theaters before we go to DVD. So you’ll be waiting a little while, because it’s a slow rollout. We know that we don’t have the funds that 2016 has, which is a good film but we are able –.
Porter Stansberry: It pales in comparison to your film, it’s – I think that film is a joke compared to your film. Your film is so much better.
C.L. Bryant: Thank you so much.
Porter Stansberry: I don’t even think it should be compared to 2016 ‘cause I think that 2016 is a political film and I think that your film is a film about ideas that transcends politics.
C.L. Bryant: Thank you so much for that, and that is the message that we would like to get out. And if, in fact, we defeat Barack Obama, all of the bash Obama films will become irrelevant. And so we certainly hope that this film, Runaway Slave, which you can go to RunawaySlaveMovie.com, RunawaySlaveMovie.com and see all of the trailers, there’s four or five of them. But we ask every one of your listeners to please, in your area, if that film is not showing, go to your theaters and demand that it shows, because progressive liberals would certainly not want America to see this message.
Porter Stansberry: Okay. I got one more question for you and it’s about your party, about the Republican Party. How do we stop the Republican Party from backsliding and offering voters the same deal that Democrats offer them, which is, you know, government largess, supposedly at the expense of somebody else?
C.L. Bryant: My friend, there is going to have to be, in the words of Matt Kibbe, the president and CEO of FreedomWorks, a hostile takeover of the Republican party, and many times in order to defeat the Democrats, you must first defeat the Republicans. And so there has to be almost a foundational shift in the Republican Party. And I feel as though this past – I was there at the convention and everyone that knows who I am, but I feel that they missed a golden opportunity as a party, historically, of civil rights and defenders of the rights and freedom of man, I think they missed a great opportunity this time around in order to reach out historically to a base that they should naturally have in their camp.
Porter Stansberry: Yeah, I’ve been making the same arguments, you know, honestly. In essays I’ve written over the last several years, I have been predicting that elections in the south are gonna become one by black conservatives because the black liberals have destroyed their communities. And sooner or later –
C.L. Bryant: _____________.
Porter Stansberry: Those communities are gonna turn on those so-called leaders who are just leading them down the path to perdition.
C.L. Bryant: I’m in total agreement with that. And I do believe that if there is reform, it will come from the place that was divided the most, the south.
Porter Stansberry: Yeah, it sure will.
C.L. Bryant: I think the people that will come from – the balm for this country, the healing ointment for this country will come from the south.
Porter Stansberry: I mean you talk about the tradition of liberal black politics, you look at Chicago, you look at Detroit, that’s where Obama comes from and that’s where he’s leading our country, and man, the south is not gonna put up with that. Sooner or later, the south traditional values, and particularly its strong religious background is gonna come to the fore, I agree with you completely.
C.L., thank you so much for being on our show. I really would love to have you come back some time, talk amore about this with you. The movie is Runaway Slave, you can go see it at RunAwaySlaveTheMovie.com, support C.L.’s film in your communities, it’s a very important message. C.L., thanks again.
C.L. Bryant: Thank you.
Porter Stansberry: I love it, I really – just, I love it. I love being able to talk about race without making people – insinuating that we’re bigots.
Aaron Brabham: And he’s giving the truth, like, he – in the movie they lay out the whole history of how everything unfolded and how it’s gotten to where it is today. And of course, you get a lot of heat because you bring up these topics, you’re white, the audience knows it, and I don’t understand why they can’t accept numbers and facts. You’re a fact-based guy, you just look at numbers. But he did a great job and I encourage everybody to go see this if you can.
Porter Stansberry: Yeah. And there are some problems with the film, it needed – it’s a little too long, it needed an editor, and some of it is, for me, the drama of it doesn’t quite work. I don’t really get the metaphor of the runaway slave, I don’t see that it’s so daring of C.L. He’s saying that he is the runaway slave, that there is a new underground railroad of black people who are conservative, and that they’re – you know, I’m sorry but that doesn’t work for me because to actually leave the plantation was to put your life in your own hands and it was a serious thing. Whereas, this is a political disagreement. I understand why he uses it –.
Aaron Brabham: We get the analogy it’s just not as –.
Porter Stansberry: I get the analogy but –.
Aaron Brabham: Serious as –.
Porter Stansberry: I could have done with about 20 minutes less of it in the film.
Aaron Brabham: I could have too.
Porter Stansberry: Because I like, okay, I get it, let’s move on and he kinda – you know, that was sort of his golden thread of getting through the story. The other thing I wish C.L. would talk more about is, I really wish that he would point the finger more at his own community, because it wasn’t the politicians who made the mothers have children out of wedlock, it was – the politicians enabled it by giving them handouts, I get that, but it was still black people selling drugs to black people, it was still black kids shooting black kids, it was still black mothers having babies with – out of marriage.
These things were all choices that people in those communities made, and I think C.L.’s message, focusing purely on the political causes, isn’t whole. I think the whole message should be we have to take responsibility for our community and we got to start making better choices, and we got to – I don’t understand why black people aren’t the leaders of law and order in the country. If you had to live in the ghetto in Baltimore because you didn’t have any other real housing options and it was where all your friends and family lived so that’s where you were, wouldn’t you vote for the guy who promised more cops, who promised more law and order, who promised tougher sentences?
Aaron Brabham: You would think so.
Porter Stansberry: But they don’t.
Aaron Brabham: No.
Porter Stansberry: It’s very curious.
Aaron Brabham: It’s become almost like a cultural corruption, like if you’re the guy that speaks against it or acts differently in the community, in a black community, you’re the outcast, now you’re branded as the Uncle Tom –.
Porter Stansberry: It’s so strange, though, it’s so strange, though, right. [Crosstalk.]
Aaron Brabham: It’s ridiculous.
Porter Stansberry: It’s sort of gangster-ism.
Aaron Brabham: Yeah, it holds their communities tight.
Porter Stansberry: I mean look at the – one of my favorite examples of this is the NBA star, Carmelo Anthony, right, Carmelo Anthony was from Baltimore, he became a major star in the NBA, I think he’s made –.
Aaron Brabham: Still is.
Porter Stansberry: He’s made more than $100 million playing basketball.
Aaron Brabham: Easily.
Porter Stansberry: Think about that the next time you’re tempted to call America a racist society where the black man can’t get ahead. Black man just got paid $100 million for goofing around with a ball on a court.
Aaron Brabham: Which, by the way, all that money comes from corporate sponsors and big, white America entities.
Porter Stansberry: Yeah. That sounds like a pretty good deal.
Aaron Brabham: It sounds like a great deal.
Porter Stansberry: So how does Carmelo handle that opportunity, what does he do with his life? He stars in a film advocating violence the police called something like Shoot the Snitches.
Aaron Brabham: I didn’t know this.
Porter Stansberry: Yeah, yeah, he volunteers to be in a gang movie.
Aaron Brabham: And this guy’s pretty much looked up to by every young teen and kid that’s playing ball in the black communities.
Porter Stansberry: Right. So are there problems with the police in Baltimore –?
Aaron Brabham: Yeah, absolutely.
Porter Stansberry: Absolutely, okay. Should we want our young, adolescent sports stars to think that killing cops is a good idea?
Aaron Brabham: Uh, no.
Porter Stansberry: I don’t think so.
Aaron Brabham: Not at all.
Porter Stansberry: I don’t think so. So where were all the black leaders? Where was Al Sharpton, where was all the black leaders of – in Baltimore, the female mayor we have now, I can’t remember her name, where were they all in all this? Where were they coming out condemning Carmelo Anthony, telling people to boycott his jerseys, telling people not to go to his games?
Aaron Brabham: They weren’t.
Porter Stansberry: Where was the NBA on this? By the way, NBA is dominated by black players. NBA has to have a stake in the future of the black community.
Aaron Brabham: It has to.
Porter Stansberry: Right. Where were they on this, did they suspend Carmelo Anthony?
Aaron Brabham: I don’t know if they had anything, I never heard of this so I’m –.
Porter Stansberry: No, didn’t do a thing, didn’t do a thing. What about his fellow players? Isn’t there somebody in the NBA that should have stood up and said I don’t want to play basketball with that guy, I think that is an act of war against our community and we think he should be off the team?
Aaron Brabham: There should be but there’s not.
Porter Stansberry: Now, I’m not saying that the players can control that, but they can come out and speak against it.
Aaron Brabham: Sure they can.
Porter Stansberry: This is what I don’t understand, this is what I do not understand. When I learned that the white ball players in the Orioles were using steroids, what did I do?
Aaron Brabham: You quit buying tickets –.
Porter Stansberry: I stopped –.
Aaron Brabham: Canceled your subscription.
Porter Stansberry: Buying tickets, I stopped going to the game and I spoke out against it.
Aaron Brabham: Mm-hmm.
Porter Stansberry: I don’t – I just don’t get it. I don’t get the way their community handles failures in their own community by glossing over them, by ignoring them or by accusing the white people of causing the problem.
Aaron Brabham: We’ll have to have him on again and address these things. All right, Porter, now it’s time for our segments – I only have a few today and then we’re gonna get to our mailbag. One of 'em ties into our opening topic, I put this under You Just Can’t Make This Stuff Up. So here is a fact for all the liberals that cry about oil companies getting more than their fair share, we hear it all the time, right, they’re corrupting Congress, blah, blah, blah, fine, they do a have a big lobbyist group, we get that. Guess how much Exxon Mobil has paid in taxes since 1999.
Porter Stansberry: I’m gonna say $10 billion.
Aaron Brabham: They’ve paid more than $1 trillion dollars in taxes since 1999.
Porter Stansberry: Wow. I tell ya what, that’s a pretty – that’s pretty embarrassing, I don’t usually get things by two orders of magnitude wrong.
Aaron Brabham: But these are like – people are just – think that they just – they don’t have any taxes and they get everything for free.
Porter Stansberry: Well, that goes back to what I was saying a moment ago, about how important this energy resource is for the government. If we can – I mean if we will allow them to do this drilling, this is a bonanza, both for the private sector and the public sector.
Aaron Brabham: Yeah. Basically, the way this article broke it down, it says this is three times its total profits of $352 billion, in other words, for every dollar in profit Exxon Mobil earns, the government is making $3.00.
Porter Stansberry: That’s insane.
Aaron Brabham: That’s insane.
Porter Stansberry: But when you think about it, the government makes about three times more than I actually make.
Aaron Brabham: That’s true.
Porter Stansberry: I mean at least.
Aaron Brabham: At least.
Porter Stansberry: And when I say what I make, I mean, you know, what I’m actually able to spend after –.
Aaron Brabham: How many times you’re taxed.
Porter Stansberry: If you look at what the government earns off of me from start to finish it’s way more than I am able to keep.
Aaron Brabham: Yeah, it’s –.
Porter Stansberry: I think three times is probably about right.
Aaron Brabham: It’s ridiculous. All right –
Porter Stansberry: By the way, everybody, just got to say, let’s all sing America The Beautiful and remember that we live in the land of the free, where we are free to pay taxes through our noses.
Aaron Brabham: Again and again and again.
Porter Stansberry: By the way, when I say through our noses is a nice way of saying through our assholes.
Aaron Brabham: Right, through both ends. And now we’re gonna take a quick break to listen to a message from one of our sponsors. [Ad playing.] All right, Porter, the war on the middle class. Fraudsters are no dummies, they have a target audience, what demographic do you think fraudsters target the most?
Porter Stansberry: I’m gonna go with either the very old or the very young.
Aaron Brabham: Yeah, let’s go with the senior citizens, ‘cause in this case –.
Porter Stansberry: Well, they’re slower and they have money.
Aaron Brabham: That’s – yeah, exactly.
Porter Stansberry: So if you’re young and naïve it doesn’t do any good to con you ‘cause you don’t have any money.
Aaron Brabham: So senior victims of financial abuse lose an average of $104,000.00 according to a survey conducted by the Certified Financial Board of Standards. You know, ‘cause a lot of these investment advisors, they do these like free lunch things, where if you attend, you know, you get lunch, the seminars, they’re the most common like marketing schemes out there –.
Porter Stansberry: Yeah, for brokers.
Aaron Brabham: Yes.
Porter Stansberry: Yeah, I get invited to these things all the time.
Aaron Brabham: All the time, right?
Porter Stansberry: And my wife always thinks it’s such a nice invitation.
Aaron Brabham: Right.
Porter Stansberry: Oh, Porter, look –.
Aaron Brabham: Hosting a nice dinner for us with prime rib.
Porter Stansberry: Yeah, no, we’re not going to that.
Aaron Brabham: You’re like the last thing I want to do is sit and get pitched by some dude while I’m trying to enjoy a great dinner.
Porter Stansberry: No, I if want to have a steak, I’m happy to pay for it.
Aaron Brabham: Yeah. But these things happen all the time, these people are taken all the time. It goes back to the whole magic bullets thing, people don’t want to be accountable for their money, they’re looking just to hand it over to the next Madoff of whatever. It’s still a sad fact, though; $104,000.00 out of our seniors is a good chunk of money.
Porter Stansberry: It’s a very sad fact and I think it goes back to something we’re gonna – something that we were talking with C.L. about, which is the disintegration of the family, it really comes back to that. Because there was a time where older Americans lived as part of the family, you know, you had the crazy old uncle in the backyard or, you know.
Aaron Brabham: Yeah, they did take care of ‘em.
Porter Stansberry: Yeah, but now they’re sort of out on their own because the government takes care of them.
Aaron Brabham: Right.
Porter Stansberry: They got Social Security, Medicare.
Aaron Brabham: Yeah, give you just enough care to be dependent on them for life.
Porter Stansberry: Right.
Aaron Brabham: Just enough.
Porter Stansberry: Yep, what’s next?
Aaron Brabham: All right. CEO or crook, hedge fund manager, is it Lewis Bacon or Louie Bacon?
Porter Stansberry: Oh, good question. I think his friends call him Louie.
Aaron Brabham: Okay, we’re gonna go with Louie Bacon. So you probably saw this about a week ago or so. He’s giving back $2 billion to investors because of disappointing investment returns. Bacon wrote in a letter, “I am more comfortable taking down the size of the fund than increasing the size of the positions in order to give clients an adequate return given the fees they are paying.” I say CEO, not crook in this case, I like his strategy.
Porter Stansberry: Well, what are you talking about, Louie Bacon is certainly not a crook.
Aaron Brabham: Right, but I mean this is one of the few good guys out there that says this is too much to manage.
Porter Stansberry: No, no, no, no, no, no, no, I think you’ve got this all wrong. There are very, very few crooked hedge fund managers, I’m not saying that there aren’t any because there’s probably lots of little guys out there who are essentially running Ponzi schemes, right, little guys. But if you look at the cadre of well established, the top 20 to top 40, the top 100 hedge fund managers, none of these guys are crooks, they’re all very, very smart, they’re all very, very good at what they do, and by the way, the government never has to bail them out. Isn’t that interesting?
Meanwhile, look at all the regulated entities, the banks, the brokers, the savings and loans, anything that’s regulated by the government constantly requires being bailed out, and Aaron, how many times have I explained this to you, and to the listeners, why? Why is it that hedge fund managers almost always are incredibly honest and never required to be bailed out? Hmm.
Aaron Brabham: Skin in the game.
Porter Stansberry: Maybe because they invest in their own funds. Huh, there’s a crazy idea.
Aaron Brabham: Same thing with private equity, it has the worst rap ever right now because it’s for the rich people or whatever, no, it’s only they’re rich because they were successful at restructuring a company with their own money, for the most part.
Porter Stansberry: No, it’s all their own money and their investors’ money. But the point of what I’m saying is, if you want to have a safe financial system, people, then demand that the directors of the banks, the CEO of the bank keep all of their money in the bank, and then say to them, if the FDIC has to come bail you out, you’ll lose everything, period.
Aaron Brabham: Everything.
Porter Stansberry: Everything, that simple. The management of banks would change immediately. I watched the 60 Minutes update on the Lehman bankruptcy this weekend. They were talking about the Repo 105 thing, where they were moving $50 million to London and then back again every time they would close the books at the end of the quarter. Simply a shell game, a con, nothing more to it, right, and everyone in the bank is saying I didn’t know about that, I didn’t know about that, I didn’t know about that. There hasn’t been any criminal charges brought.
What they were doing was so clearly a con and a crime, it was absolutely, positively fraud and the CEO and the CFO both signed quarterly financial statements that said everything in these statements is materially correct and if they’re not I go to jail, which, in theory, sounds great, but guess what –.
Aaron Brabham: It never happens.
Porter Stansberry: They never get charged, they never get brought to justice. And the people who had their money in Lehman, I’m not talking about the shareholders, I’m talking about the people who lent the bank money, it was a loan, they got paid $0.20 on the dollar.
Aaron Brabham: That’s horrible.
Porter Stansberry: It’s the largest bankruptcy in U.S. history, it’s larger than the bankruptcy of Enron, General Motors and Adelphia Cable combined.
Aaron Brabham: You know what I did know –.
Porter Stansberry: $350 billion was lost and these guys aren’t in jail.
Aaron Brabham: I’ll tell you what I did know, I watched the documentary as well over the weekend, I didn’t know that six months prior to their complete failure and collapse of bankruptcy, the SEC was on the first floor.
Porter Stansberry: Yeah, the SEC was complicate in the entire thing.
Aaron Brabham: Investigating every single piece of paper.
Porter Stansberry: Yeah, they didn’t know.
Aaron Brabham: And they wouldn’t release to the public that the SEC was housed in the building.
Porter Stansberry: Well, yeah, but everybody knew that, ‘cause Einhorn told everybody back in 2007 what was going on. I mean everyone on the street knew what was going on. I don’t know about ma and pa America, or the dingdongs at 60 Minutes, but – the SEC reminds of squirrels watching a bank robbery, to take a line from Bill Bonner, they saw the whole thing happen, they didn’t know anything about what it meant. It’s just amazing how inept they are.
And I think it’s incredible how much the public depends on them. Oh, the SEC is gonna help me. No, the SEC is never gonna help you, the SEC only exists to protect the large banks. I’ve explained it to you so many times.
Aaron Brabham: I know.
Porter Stansberry: I don’t have the energy to do it again.
Aaron Brabham: All right. Let’s go to the mailbag, Porter, we received a ton of feedback. We actually asked for feedback this last week and people were very kind to us overall, I was very happy about it.
Porter Stansberry: How many listeners does Arbitron say we’ve got now?
Aaron Brabham: 24.
Porter Stansberry: 24, woo.
Aaron Brabham: We are getting up there, buddy, I got to tell ya.
Porter Stansberry: Wow.
Aaron Brabham: And we also cracked the top ten in iTunes for financial, I believe.
Porter Stansberry: Don’t tell anyone that.
Aaron Brabham: Yeah, I know, I shouldn’t.
Porter Stansberry: It’s much easier to be the underdog.
Aaron Brabham: Well, apparently, you know, it only takes 24 people to get you there in iTunes, ‘cause there thousands of financial podcasts.
Porter Stansberry: Well, yeah, right, right.
Aaron Brabham: And it’s all a trend. So if four people actually listened at the same time, boom, we’re right up at the top.
Porter Stansberry: Oh, I see how that works.
Aaron Brabham: Yeah, they have real weird schematics, it has nothing to do with how many listeners we have, trust me.
Porter Stansberry: Because we don’t have any listeners.
Aaron Brabham: Yeah. And by the way, when I say we received a lot of emails, it was the same four people emailing about every other day, which was ridiculous. I was like all right, enough of this. So –
Porter Stansberry: We should put a mirror in here so we would have two more listeners.
Aaron Brabham: We should, and we should record the studio so it looks like we have a big live audience, even though it’s just you and I repeated.
Porter Stansberry: Can we have a laugh track?
Aaron Brabham: No, I already got your voice, it’s perfect. We received a lot of voicemails as well. We weed through ‘em. Some of ‘em are in Spanish, some of ‘em are crank calls. One of ‘em was a, I got the wrong number but I just want to say God bless you and I hope you have a great day and blesses and prayers and all that.
Porter Stansberry: Very nice.
Aaron Brabham: Which was very kind for us ‘cause we need all the help we can get for that.
Porter Stansberry: Maybe if they’d spend more time working on their numbers and less time praying they wouldn’t call the wrong number.
Aaron Brabham: Yeah, we’re not touching those subjects anymore.
Porter Stansberry: No, that’s right, we aren’t.
Aaron Brabham: But Tim, we got some voicemails, fire ‘em up.
Male: Sorry, it’s Stansberry Radio not Brabham Radio, Porter, if you’re not gonna be there, you might as well not even do the podcast.
Aaron Brabham: Wow.
Male: I want to hear the insight, the wit and the cutting to the bones of someone’s argument. Aaron, I like ya but ya just ain’t got it. So Porter, you got to be there or you got to just make a week with no show.
Porter Stansberry: Oh man, that’s harsh.
Aaron Brabham: Eh, you know what, I don’t –.
Porter Stansberry: At least they’re not calling you lapdog anymore.
Aaron Brabham: Yeah, I don’t really care, whatever. You know what, just take the week off, then, buddy, I don’t really care. If you don’t want to listen –
Porter Stansberry: Hey, hey, hey, whoa, whoa, whoa, we only have 24 listeners, you can’t run ‘em off.
Aaron Brabham: Yeah, but you know what you get, you know what you get, you get exactly what you pay for which is nothing, so –.
Porter Stansberry: Right, yeah.
Aaron Brabham: Yeah, I appreciate the heat, and no, I’m not Porter, I’m not trying to be Porter but without me –.
Porter Stansberry: There is no show.
Aaron Brabham: That’s the deal. So just deal with it for Porter’s vacations, but we do appreciate you listening and giving feedback.
Porter Stansberry: And I’m only missing three or four weeks a year.
Aaron Brabham: Yeah, it’s not much.
Porter Stansberry: And if you guys knew what I was being paid for this you would understand.
Aaron Brabham: Yeah. Porter gets paid exactly as much as you guys pay to listen to it –.
Porter Stansberry: I get paid nothing.
Aaron Brabham: Which is nothing. All right, next voicemail.
Male: This last episode you gave us guys, the ______ Foundation ________ softball questions, so sorry I had to call you out there but Porter, you just got off sick leave and everything, so it’s maybe taking you a little while to get back into the swing of things. But like the Joseph Farah episode was awesome. You mentioned that you’re not very skeptical of the medical field, you’re skeptical of politicians, you’re skeptical of DC, you’re skeptical of everything else except the medical field, and I was a little curious as to why.
Porter Stansberry: Hmm, okay. Well, I’m a big believer in science and empiricism and I think if you can prove something is safe and it works, there’s not a lot to be skeptical of and I don’t believe in magic bullets. So I accept the fact that there are risks to medicine and that nothing is gonna work for everybody but I think that a lot of the people in medicine, not everyone but a lot of the people in medicine are truly driven by their desire to help people and the way they do it is with science and empiricism.
So I agree with the methods and I’m not one of those people that thinks that anyone who works for a big pharmaceutical company is evil and there are a lot of people out there that just have that mindset, that, oh, if you work for Monsanto you’re evil. I just, having met people that work at Monsanto, I know that’s not true, and I’m in favor of science, I’m in favor of better, safer products in medicine and better, safer plants and seeds and – I don’t know, I’m not skeptical of human progress, I’m skeptical of people who say that human progress is coming to an end.
Aaron Brabham: On that note, we did have an email from Tom, the farmer, he responded back to your discussion on Monsanto. He said, “Did you guys just forget my discussion regarding Monsanto was not that I did not like them, I said they’re dangerous. I believe I also said I utilize their seeds but pointed out that he doesn’t have a choice. If I choose not to use their seeds whatever seeds I did use would become their seeds after pollination.” They are known for checking people’s farms –.
Porter Stansberry: That is so exaggerated it’s unbelievable.
Aaron Brabham: Hey, this is – these are the reports out there, they hire these ex-secret service people to go check your farm –.
Porter Stansberry: So crazy, no, they don’t.
Aaron Brabham: I don’t know, I don’t know.
Porter Stansberry: No, they’re talking about huge food conglomerates, okay, who steal their seeds.
Aaron Brabham: Are you sure they don’t investigate farmers that are adjacent to fields –?
Porter Stansberry: Yes, yes.
Aaron Brabham: This is the reports out there.
Porter Stansberry: They’re all nonsense.
Aaron Brabham: All right. Well, Tom, I’d love for you to call in and dispute this or give us your case.
Porter Stansberry: Well, by the way, what’s he start with, I use their seeds.
Aaron Brabham: Well, but he’s also saying he gets shackled by it, he’s forced.
Porter Stansberry: Yeah, well, guess what, Coke will give you diabetes –.
Aaron Brabham: People don’t care about that.
Porter Stansberry: Right. If you don’t like paying for their product, don’t use it. If you don’t like the risks associated with their product, don’t use it. But don’t call up me and say Monsanto is terrible; by the way, I use their seeds, that doesn’t make any sense.
Aaron Brabham: All right. Another mailbag. George said – this goes back to your Obamney. “I disagree with your opinion that Romney and Obama are identical –.”
Porter Stansberry: Actually, that’s not an opinion, that’s just a fact.
Aaron Brabham: All right.
Porter Stansberry: Sorry.
Aaron Brabham: He says –
Porter Stansberry: Where do you think Obama got his healthcare plan from? Where? It is exactly the same plan in every material legal aspect as the healthcare program that Obamney – that [laughing] –.
Aaron Brabham: You can’t even help it.
Porter Stansberry: That Romney put in place in Massachusetts, which, by the way, had a mandate of coverage. You cannot live in Massachusetts and not have healthcare. Why you think electing this person as our president is gonna change anything in our country is just nonsense. This is the craziness about people who are Republicans first and Americans second. I can’t stand that, I can’t. Do what’s best for our country, stop worrying about your damn political party.
Aaron Brabham: Well, George says, “I hope to be able to contact you in two or three years and say I told you so.” Now that’s assuming that –.
Porter Stansberry: How about [crosstalk].
Aaron Brabham: That Romney is gonna be elected.
Porter Stansberry: How about this, why don’t you put your money where your cowardly mouth is, okay. I’ll bet you $10,000.00 that in three years’ time we still have the government mandated healthcare, that we are still running huge trillion dollar deficits and that – you could pick a third thing, our military is still in 120 countries and spending is out of control. Nothing will change if you elect Mitt Romney, not one thing, and I’m happy to bet you ten grand on it. Get back in touch with me, we can do a contract every email.
Aaron Brabham: Wow, we are running off our listeners today. All right.
Porter Stansberry: I just can’t stand talking to Republicans like that. They’re even worse than Democrats because at least Democrats are too stupid to know better, Republicans know better and they just believe in this fantasy that the Republican party is somehow different and gonna save anybody, it’s all nonsense. Look what happened over the eight years under G. W. Bush, what happened to our country? Nothing good!
Aaron Brabham: Nothing good. He got half the deficit. All right. Diane said, “Please keep up the excellent work and may God continue to bless you both.”
Porter Stansberry: Thank you.
Aaron Brabham: Thank you, we appreciate that.
Porter Stansberry: I’m a little heated today.
Aaron Brabham: Yeah, you are.
Porter Stansberry: I need a little blessing.
Aaron Brabham: Bob said, “Heard your radio today for the first time, man, what a station. Your guest was G. Edward Griffin, although I have been getting your emails for a while, the last sales email I received was you selling the Stansberry Advisory Newsletter,” he’s talking about the Shale package, “that presentation, although long, I listened to it completely by stopping it and restarting between chores. You struck me as someone sincere who is on a mission.” That’s great but did you buy it, that’s what I want to know.
Porter Stansberry: Probably not.
Aaron Brabham: Probably not.
Porter Stansberry: It doesn’t sound like it.
Aaron Brabham: It doesn’t sound like you did. Go back and listen to it again and hit the order form.
Porter Stansberry: It’s pretty expensive, it’s all of what, $49.00?
Aaron Brabham: $49.50 but here’s the kicker, we let you try it for four months completely risk free and you get all your money back plus you keep all the reports that has every pick that we talk about in the Shale promotion.
Porter Stansberry: Hey, listen, I’m not allowed to mention this guy’s name because, you know, I wouldn’t do that to people who send me a private email, but this guy, I guarantee you, you would recognize his name, Aaron, I’ m sure that you would know this guy, well, you’ve met him with me.
Aaron Brabham: Is this a subscriber of ours?
Porter Stansberry: No, no, this is a –.
Aaron Brabham: Or just a friend?
Porter Stansberry: This is a major, major Wall Street hedge fund manager –.
Aaron Brabham: Okay.
Porter Stansberry: Big shot, big shot, and here is what he says regarding our Shale package. “For what it’s worth, I found the quartet of special reports you published on unconventional oil and gas incredibly compelling, really better than anything I’ve read in the space.”
Aaron Brabham: That’s about as good as it gets there.
Porter Stansberry: That’s a direct quote.
Aaron Brabham: That’s from a guy that knows finance.
Porter Stansberry: That’s a direct quote. And this guy, by the way, has access to every single thing on Wall Street.
Aaron Brabham: Oh, the subscribe to everything.
Porter Stansberry: And he gets all the, you know, all the trading desk information and all the big banks want to do business with him, et cetera. And there’s one more thing he says that I think is really interesting, this is a good piece of Wall Street insight. He said – I can’t find the quote right now in this email and I don’t want to waste any more time, but he said that the best distressed debt desk on the street today is at Deutsche Bank, and he said that they are completely, absolutely out of the loop on our strategy of buying the distressed bonds of these shale companies.
Aaron Brabham: I love that.
Porter Stansberry: And he said they don’t have the technical expertise, they don’t have the experience, they’re completely out of the market. So he thinks that we’re right, that there is a good opportunity here for at least some period of time, 18, 24 months, maybe, as these things become distressed that there wouldn’t be a lot of competition for bidding on these bonds.
Aaron Brabham: I hope that they don’t buy your newsletter because I don’t want them to understand this.
Porter Stansberry: Well, they will buy my newsletter but they’re so bureaucratic.
Aaron Brabham: They’re not gonna be able to figure out the metrics behind it.
Porter Stansberry: No, they will not be able to get approval from their higher ups to participate in these trades because the idea didn’t come from them.
Aaron Brabham: Oh, okay, good.
Porter Stansberry: Right. It’s the whole we didn’t build it here syndrome.
Aaron Brabham: Sure.
Porter Stansberry: I tell ya what on Wall Street that’s absolutely an epidemic. If it didn’t come from your research department, you’re not allowed to do the trades.
Aaron Brabham: All right, I got one more from Ray. So he said, “I agree with Gary Johnson platform, except that he supports global warming and you guys didn’t offer the carat on this subject, which surprised me. I have never come across anything in my entire life that obviously walks like a duck, thus, he either has to be stupid, enormously gullible or corrupt in his own fashion, and as such, I would never vote for Mr. Johnson.” I didn’t know that that was the stance I would have put it to him. We’ll have him on in the future, I like him a lot, he’s a good dude.
Porter Stansberry: I’m happy to talk global warming with him.
Aaron Brabham: And I know you would gladly talk global warming –.
Porter Stansberry: I’ll bring the heat on the global warming nonsense.
Aaron Brabham: That’s a good pun, I like that.
Porter Stansberry: No, but having met Gary Johnson, I can only tell you that my impression is that he is definitely not stupid, nor is he gullible, and he is absolutely, positively not corrupt. I mean he wouldn’t have any of his political views if he were corrupt, ‘cause his entire political career is based on not serving special interests.
Aaron Brabham: I think he vetoed, it was over 700 pieces of legislation in New Mexico.
Porter Stansberry: So your impression of him is completely wrong, and by the way, let me go back and say this. That I don’t think it’s – that’s one of the other things I can’t stand in the modern discourse, where if somebody has an opinion on something that’s different than yours, you immediately ascribe to him –.
Aaron Brabham: Stupid.
Porter Stansberry: As being either stupid or evil or both, and by the way, we do a lot of that here, I will tell you that people are evil and stupid but only when I can show you that – I do this a lot, but only when I can show you that they don’t actually believe the things that they’re saying and that they are actively working to produce a negative outcome for their own reward, and that’s not at all what Gary Johnson does. So let’s be careful about calling people stupid and evil. If you’re gonna call them that that’s fine, just go ahead and prove it, and how do you prove someone is stupid or evil, well, it’s not that tough.
Aaron Brabham: You did get a little heat, I don’t have the email in here but I like to bring up the ones that give you heat, and it was from one of our female listeners that said you pick and choose the people you attack very carefully –.
Porter Stansberry: Yeah, I do.
Aaron Brabham: Because you – yeah, you do, and it’s exactly what you said, and she – her point was, you know, you called Mrs. Romney stupid, I don’t think that you would have the heart or the ability to call Mrs. Obama stupid. Maybe not, I mean but you weren’t picking and choosing because she was a Republican nominee’s wife –.
Porter Stansberry: I don’t know why I called Mrs. Romney stupid.
Aaron Brabham: It was the speech that she –.
Porter Stansberry: Oh yeah –.
Aaron Brabham: Gave. You weren’t saying –.
Porter Stansberry: My husband won’t fail.
Aaron Brabham: Yeah, yeah.
Porter Stansberry: What does that mean?
Aaron Brabham: It was that speech.
Porter Stansberry: Well, I can tell you, I’m looking at a picture of Mrs. Obamney now, I mean Mrs. Obama.
Aaron Brabham: Mrs. Obama.
Porter Stansberry: Right. And I could only tell you that I’m not gonna say anything negative about her ‘cause she would [beeping sound] kick my ass.
Aaron Brabham: She’s a – she’s in shape.
Porter Stansberry: I mean she looks like Mohammed Ali.
Aaron Brabham: Or Laila Ali, it looks like the daughter.
Porter Stansberry: I mean I think she could seriously – I guarantee you, I’m serious about this, I would put money on her in a fist fight with Aaron.
Aaron Brabham: Oh, I would sweep the leg, I’d sweep the leg, dude, she’s a tall target, I’m low to the ground. I’ve got a good low center of gravity.
Porter Stansberry: And I bet you she’s got at least 30 pounds on you and she’s not fat.
Aaron Brabham: Oh, are you kidding, at least.
Porter Stansberry: She’s –.
Aaron Brabham: No, she’s pretty diesel.
Porter Stansberry: She’s a big girl.
Aaron Brabham: Oh, by the way, one of the speakers last night for the DNC that you missed –.
Porter Stansberry: [Laughing.]
Aaron Brabham: Governor Martin O’Malley came on stage –.
Porter Stansberry: Oh, he’s my favorite.
Aaron Brabham: You know what’s funny about him is they had tape of him, not even that long ago –.
Porter Stansberry: He’s pretty diesel too.
Aaron Brabham: He – dude’s in shape, he works out at the gym I do, I guess, from what I hear.
Porter Stansberry: Yeah, he might even take me but I don’t care.
Aaron Brabham: Well –.
Porter Stansberry: I’d fight him anyways.
Aaron Brabham: I think he’d outlast you cardio wise. You’d have to get on him quick, you’d have to bull rush him, that would be your move.
Porter Stansberry: Bulrush, yeah.
Aaron Brabham: But he was – I love that they caught him on tape in an interview a couple weeks prior to where the question was, you know, are we better off four years – today than we were four years –.
Porter Stansberry: Yeah.
Aaron Brabham: And he was like, nah, I don’t think so, last night – of course we’re way better off, they reined him in, they gave him a whipping dog –.
Porter Stansberry: Oh, did they show both?
Aaron Brabham: Well, I was watching, of course, the Cavuto one, I wasn’t watching MSNBC.
Porter Stansberry: I see, I see.
Aaron Brabham: I was watching the Fox one.
Porter Stansberry: So they got him talking out of both sides of his mouth.
Aaron Brabham: But they did, they nailed him and I loved it, but they reined him in, they whipped him and got him right back into the party, which is ridiculous. All right, we had a couple of tweet – we had one tweet @slimtrade says –.
Porter Stansberry: You know – I got to say one more thing about the O’Malley thing. I wish there was some way that I could respond to him about that question, because I am far better off than I was four years ago, right.
Aaron Brabham: Yep.
Porter Stansberry: But it’s no thanks to O’Malley, it’s because I moved out of the state of Maryland because of him.
Aaron Brabham: Yeah, it’s because you spend more than half a year in Miami.
Porter Stansberry: Yeah.
Aaron Brabham: Where there are no taxes.
Porter Stansberry: Now, you want to talk about –.
Aaron Brabham: State taxes.
Porter Stansberry: Here, this goes back to our thing about being evil and stupid, right. I think that Governor O’Malley is evil and stupid and I was very clear about why, he understands that by raising the tax rates on millionaires, that he is going to produce less tax revenue because the millionaires are gonna leave, okay. And even after that was proven – and he’s not dumb, right.
Aaron Brabham: No, he’s not dumb.
Porter Stansberry: There’s a difference between being dumb and being stupid, right. Stupid is when you do things that you know are wrong and you don’t care and you do them just for political reasons. So he is gonna raise the rates even though it produces a weaker state of Maryland, makes us pay higher interest rates all these things, right, he’s gonna do it anyway _____ political reasons.
Aaron Brabham: Oh, he gets elected again, why wouldn’t he.
Porter Stansberry: So how could that not be either stupid or evil?
Aaron Brabham: And very malicious for his own personal gain. All right, we had one Facebook, he said, “I love the comment from Porter, just stop this nonsense, if you have someone who is a violent criminal, you know what, if you want to be “fair” fine, you get to give him or her three strikes but when they get three strikes don’t just put them in jail forever, go ahead and hang them –.”
Porter Stansberry: That’s right.
Aaron Brabham: “Hang them up and send their body back to mom and say, ‘Sorry, you should have done a better job with this kid.”
Porter Stansberry: Try better next time.
Aaron Brabham: “Borat would be proud of you.”
Porter Stansberry: Who’s Borat?
Aaron Brabham: Borat, it’s Sacha Baron Cohen, that dude – very nice, you know, Borat.
Porter Stansberry: Oh, very nice.
Aaron Brabham: Yeah, Kazakhstan.
Porter Stansberry: Yeah.
Aaron Brabham: All right.
Porter Stansberry: What about this, strike one, right, you have to repay, you even pay a big fine, whatever you got to do, right. So strike one, you’re some severe penalties. Strike two, what about like – what about we do Saudi on ya, why can’t we like take an arm, take a leg.
Aaron Brabham: I don’t think it’s that bad of an idea.
Porter Stansberry: Something.
Aaron Brabham: You steal, you get a finger or something, you know.
Porter Stansberry: Ooh, here’s a better idea. If you take your arm or your leg you can’t work, let’s take your nuts.
Aaron Brabham: That’d be better.
Porter Stansberry: Yeah, ‘cause then you can’t produce, you know, no children to get in more trouble.
Aaron Brabham: None, that’s right.
Porter Stansberry: Yeah, plus, if you don’t have your nuts, probably a lot of your drive –.
Aaron Brabham: Probably a lot of testosterone gets taken away too.
Porter Stansberry: Yeah, you’re probably safer in general.
Aaron Brabham: It works for all dogs.
Porter Stansberry: And you know what, if you knew that if you got caught they’re gonna take your nuts –.
Aaron Brabham: You would think twice.
Porter Stansberry: You would definitely think twice.
Aaron Brabham: Absolutely.
Porter Stansberry: I like that. And then strike three is we string you up, send your head back to mom.
Aaron Brabham: With a note.
Porter Stansberry: With a note.
Aaron Brabham: All right. The guest on the next show will be another creator of a popular documentary, 2016, Obama’s America. We watched that a couple weeks ago.
Porter Stansberry: Oh, this is that Dinesh?
Aaron Brabham: Dinesh D’Souza.
Porter Stansberry: Oh, this will be a good one.
Aaron Brabham: Yep, he’s also the president of the Kings College in New York City –.
Porter Stansberry: Don’t miss this one.
Aaron Brabham: And was a former policy advisor to President Ronald Reagan. We appreciate you listening to Stansberry Radio. A special thanks to C.L. Bryant for joining the show. Visit us online at StansberryRadio.com, get at us on Facebook, tweet, call our 855-SARadio, even if you want to bring hate to me, I’m okay with it because you’re still listening and we appreciate that.
If you enjoyed the show, pass it on to one of your friends. We appreciate you listening. Have a great week.
Announcer: Stansberry Radio is a purely public broadcast and is not intended to be personalized financial advice for any individual’s specific situation. Each individual’s financial situation is unique and Stansberry Radio should not be relied upon and/or considered as personalized advice. Stansberry Radio is not licensed to render personalized advice and should be considered simply the public opinions of Stansberry Radio and its guests. Recommendations on specific financial securities are not intended to address any listener’s particular financial situation.
[End of Audio]
Listen
Download
This Episode's Guest
C.L. Bryant
C.L. Bryant is an outspoken Baptist minister, radio host, television host, and the former president of the NAACP's Garland, Texas Chapter. Born and raised in Shreveport, Louisiana, his parents are WWII Veteran L.C. Bryant and Elnola Bryant. He has a Masters degree in Theology and is a Baptist minister and pastor.
He is a member of the Tea Party and has defended the group against allegations of racism. He is the founder of OneNationBacktoGod.com and the creator independent film documentary Runaway Slave, "a movie about the race to free the Black community from the slavery of tyranny and progressive policies."
Bryant has been critical of Jesse Jackson and Al Sharpton for their role in protests over the shooting of Trayvon Martin.
- Latest Book: Runaway Slave Movie
-
Ep 60: The "No Brainer" Resource Investment
- 02/07/2013
- with Rick Rule
-
Ep 63: Is Now The Time To Buy Gold?
- 03/01/2013
- with John Doody
-
03-21-2013 Premium Segment: Porter Recommends a Blue Chip Stock
- 03/21/2013
- with Porter Stansberry
-
February 2013 Premium Episode: Porter and Doug On The End Of America
- 02/08/2013
- with Doug Casey
-
03-29-2013 Black Label Episode 3
- 03/29/2013
- with Porter Stansberry
-
Ep 60: The "No Brainer" Resource Investment
- 02/07/2013
- with Rick Rule
-
Ep 57: Alex Jones Blasts Piers Morgan on Stansberry Radio
- 01/18/2013
- with Alex Jones
-
Ep. 67 The Best Guest Ever
- 03/28/2013
- with James Altucher
-
Ep 56: Dissecting Social Security & Medicare
- 01/10/2013
- with Richard Epstein
-
Premium Segment: Valuation Video Porter’s Lesson On Valuing Stocks
- 05/08/2013
- with Porter Stansberry