full

Episode 362 - Central Banks Cannot Print Oil

In this episode we discuss:

(00:00) Talk about ideas

(00:23) Introduction

(05:41) Twitter and Mastodon

(11:45) Dictator Dan and those steps and that accident

(20:39) Labor takes step towards new religious discrimination laws

(24:58) Negative gearing and capital gains tax discount

(34:05) Average Vs Median

(37:56) Alan Joyce

(44:58) Rules Based International Order

(48:45) Oil Price Cap

(50:54) Oil – Financial market versus the energy market

(59:13) Hence Europe is Stuffed

(01:03:24) Patrons and Newsletter

(01:05:59) Computer Chips

(01:14:39) Top 10 recent news that portend a terrible future for the US-led world order:

(01:19:25) How the world views Russia and China

(01:21:35) Singaporean diplomat Bilahari Kausikan

(01:25:51) Population to hit 8 Billion

(01:30:06) The Farther People Are From The Fighting In Ukraine, The More They Oppose Peace Talks

(01:38:08) Submarines

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Transcript
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We need to talk about ideas, good ones and bad ones.

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We need to learn stuff about the world.

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We need an honest, intelligent, thought provoking, and entertaining

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review of what the hell happened on this planet in the last seven days.

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We need to sit back and listen to the Iron Fist and the Velvet Glove.

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Well, hello there, dear listener.

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This is the Iron Fist and the Velvet Glove podcast episode 362 in

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going over seven years, and we're still at it on Trevor, behind Fist.

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With me.

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As always, Joe, the tech guy, Neil.

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And with us in spirit and in audio Scott, the Velvet.

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Glove, without a functioning video, but seemingly with a functioning audio.

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Scott, how are you Scott?

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Talk to me,

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Oh, no, seriously.

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Seriously.

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You can't do this to me, Scott

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Oh, that's funny.

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That is funny.

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We had video at the beginning of this at seven o'clock.

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Yep.

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And then we lost the video, but we had audio and literally we were speaking to

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Scott before I played the intro and we said, let's just work with the audio.

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We'll go with that.

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And You are there.

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You are there.

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Scott.

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How are you?

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Bloody drops out whenever you play that intro music.

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It just, I thought to myself we're gonna have exactly the same problem

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this week as what we had last week.

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But anyway, I don't have a camera so I'm sure people can remember what I look like.

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Maybe the regulars can, but anyway, I am fully clothed too

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by way pants off podcasting.

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Sorry.

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You should be just pants off podcasting.

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Yeah, exactly.

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I could do that.

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Yeah.

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Well Joe and I just got out underpants on, down by.

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Yeah, I know that.

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But you know, I gotta get up and go to the fridge so I could be,

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you know, I don't wanna get caught in that with the with the camera.

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Right.

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So anyway, you're living in rural Queensland or regional place now, Scott?

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Yes, it is regional Queensland.

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And you, you can get away with virtually everything up here.

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Like, you know, I went out to one of our premier restaurants and

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all that sort of stuff with the directors a couple months ago and I.

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Got dressed up, they just arrived in shorts and a t-shirt and

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scuffs and that type of thing.

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I thought to myself, okay, this is regional Queensland and I haven't

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worn any long trousers outside of the office since I've been up here because

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it's too bloody hot to, So anyway.

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Okay.

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And life's treating you well up there, Scott?

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Yeah, it is.

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It's treating me okay.

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Yeah.

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You recommend regional Queensland to anybody looking for a change

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in life or just a better job?

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A tree change?

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Yeah, it's, you do have to get used to the fact it is a slower pace of life up here.

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We don't have any public transport that you can really look at.

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Mm-hmm.

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, you know, they do have buses, but they don't seem to run all that

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frequently and that type of thing.

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The.

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Everything I need is up here.

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Except the one thing I do miss is a I do miss having competitions around

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the cinemas because we really got one cinema up here that's events

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and they charge like wounded bolts.

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Mm, Yeah.

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Yeah.

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So in the chatroom is John and Bronwin and yes, Scott's got audio,

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but he doesn't have video problems at Scott's end on this occasion.

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So, yeah.

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So you'll just, you'll just hear him but not see him for this episode.

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Get one Gade John.

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Yeah.

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So, alright.

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Oh, and Andrew says tree changes can go south too.

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That's correct.

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So that's the other option.

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All right.

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Well, is this Andrew Jackson?

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Is that the same?

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Andrew Jackson that I went to university with all those years ago?

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He looks too young for that, Scott.

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So.

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Judging by the profile picture, but Exactly.

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Maybe.

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Yeah, you never know.

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Mm-hmm.

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Okay, we're gonna talk about Twitter and Master Don dictated

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Dan and the newspapers down there.

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We're gonna talk about negative gearing, average wage, oil prices,

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computer chips, population, Brazil, Fascism, Ukraine, update submarine.

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Scott can't have you on without . I mean, it was probably

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back in episode five or six.

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I was starting to rant about submarines.

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Then you got onto something good and you haven't let it

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go, have you ? That's right.

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Can't help myself.

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So yeah, that's all ahead of us.

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And Andrew Jackson, q i t q u t.

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Yeah, I did go to qt.

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Yeah, if he was back in the Q I days then that's a while ago, so, Yeah.

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Well I was at qt.

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Yeah, so I was at Q I T and then it changed to Q ut, so yeah.

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Do you know else was at Q I T who?

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The owner of the ARC encounter.

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Ah, can have.

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Really?

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Yes.

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Is that right?

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Apparently he is a graduate of Q I T.

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Yeah.

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Is that right?

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We've exported and was a science teacher in Brisbane.

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Yes.

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Fair.

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We've exported some terrible things to the us, Ken, Ken Ham and Ruth Murdoch, I mean.

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Yeah.

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Yeah.

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So, Hey, there you go.

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For those people missing, Scott, I've got a picture.

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Oh, well done.

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You did well to sneak that up there.

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Good on you.

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And there was a photo of me at the Brisbane airport.

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Yeah, yeah.

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Complete with masks, so, mm-hmm.

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. Alright.

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Let's briefly talk about Inland Musk has purchased Twitter and the Twitterverse is

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just going into meltdown because they fear that it's going to go to rack and ruin,

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and they're looking for alternatives to spend time on and do what they wanna do.

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So because he initially quoted Blue ticks would cost $20 a month, and

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then he's the author Steven, his guy wrote the horror flicks horror.

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Stephen King.

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Stephen King, I think was having a Twitter debate with him saying, If you're gonna be

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charging people 20 bucks, I'm out of here.

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Or a blue tick, you know, this is the tick that all you know indicates that you are

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an authorized, genuine person on Twitter.

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And Enon Musk said, Oh, well let's make an $8, you know, The point wasn't that

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Stephen King didn't have $20 to stump up.

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He just felt he shouldn't pay any money at all.

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Mm-hmm.

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. So anyway, Elon took that as an opportunity to haggle and it now seems

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that they're gonna favor people who have paid the eight bucks and their tweets are

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gonna appear at the top of the timeline.

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And if you haven't paid that, you probably, your tweets won't get much

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prominence and people fear it's gonna turn into a real shit fight in there.

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So they're looking for other alternatives.

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And the one that seems to be the likely replacement, if any, is master do.

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So Joe, we were talking about it earlier and it looks a little bit like Twitter,

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but this one is not owned by anybody.

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It's all open source.

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You wanna quickly explain what mastered on is to the informed, The original intent

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from the guy was effectively a Twitter.

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That wasn't moderated by Big Tech that didn't have an algorithm that

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pushed certain paid content to the front and adverts to the front

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and was gonna be completely open.

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And so effectively it's a federation of servers.

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You find a server?

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Yeah.

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People host servers of their own free will.

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And they are responsible for content moderation and they

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federate with other servers.

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So the idea is that basically as long as you're federated with another

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server, you get whatever feeds you want.

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Unmoderated un unfiltered from them.

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Now, truth Social, which is Trump's free social media, is

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actually based on Master Don.

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And there were some initial arguments as to him stealing open source software and,

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and not making the source code available.

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No shock horror.

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So although it's based on the same platform and in theory could

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federate with everyone else, most most servers will have blocked it and

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will choose not to federate with it.

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Yep.

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Yep.

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And so you, you basically get a username and then at site name

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it's very much like an email.

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So you have a user app server and, and much the same way

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that email is open source.

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So it's, it's an open standard.

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Anybody can set up their own mail server, master's, much the same.

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You can set up your own server or you can find someone who has equivalent social

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values and then join their server and, and assume that your contents will be suitably

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tailored by people who match your values.

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Hmm.

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So I've joined and I'm trying to work out what I've done, but

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I've, I'm at Trevor at oz.social.

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So as I understand it, oz.social is one of these servers.

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It talks to a whole bunch of other servers.

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So people can be sort of, it just gives you like a home address if you like, but

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it doesn't prevent you from interacting with other people on other servers.

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If you can just find them.

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You can add them to your feed to follow them.

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It just means that@oz.social, there are particular moderators who are

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responsible for that particular server, who have their own rules as to how

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hard or easy they are when it comes to abusive language or things like that.

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So each server has its own level of supervision anyway.

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For one reason or another I decided to go onto the Oz social aus.social.

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And I think people will end up there and it's got a similar feel to Twitter.

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The only thing is you've gotta try and find all the people that you use to

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follow on Twitter and find where they are on Masteron if they are there and

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sort of start following 'em again, which anyway, there's tools out there

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to do it and there's time and I, it would just be interesting to see if

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the sort of Twitterverse migrates over there cuz Twitter's been good in terms

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of getting content for this podcast and it's been really good for the video

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clips as well cause it's been really easy to download clips off of Twitter.

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But I dunno how easy it's gonna be.

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Off, off Master on, we will see.

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But one thing a note is I suppose it depends on how

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quickly Twitter does implode.

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And if it does implode the way the doom says it's going to, then

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if it does implode quite quickly, well Elon's just done his dough.

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And secondly, then Master Don could pick up the shattered remnants and go with it.

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Yes.

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Yeah, it could do.

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So it's entirely possible.

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Who knows how it's gonna end up.

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So yeah, if you're in the chat room, Scott's with us no video, but we

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have his audio, so, he's with us.

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And one thing pointed in the top right end corner, one thing that

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was pointed out to me was Master don direct messages are not encrypted.

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And so although they're not shared with everyone, they are still not private.

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Right.

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Meaning if you send a direct message, you can be tracked down.

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Yeah.

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Any of the server operators can see it basically.

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Right.

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Okay.

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That's kind of what I would've thought would be the case, so no surprise there.

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Scott, have you been keeping up with dictated Dan and the Victorian

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State election down there?

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I've been watching a little bit because I, I did slip Fiona Pat a hundred bucks.

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Mm-hmm.

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because she seemed to be standing up to the Christians and that

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type of thing, which I thought was very good and we needed to keep

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that sort of pressure on them.

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So I slipped her a hundred bucks.

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I haven't really been watching the whole thing except this, you

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know, the steps that took out took down a premier that came out.

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Yes.

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And you know, that was on cracking and that sort of stuff.

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I was reading about that.

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And it sounded like it was a media beat up that they were.

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You know, it sounded like it was a beat up by the not Fox News, who?

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We got the Rip Murdock papers.

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The Murdock Press, Harold Son, and also the Age.

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Both been at it.

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Really?

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The age has been two.

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So there's two stories.

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Stories disappointed the age, ages gone that way.

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Yeah.

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So one relates to a car accident that the family had where his wife was

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driving at a cyclist, T-boned the car.

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So the cyclist hit the car in the side and this is all, you know,

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eight years ago or something crazy like that, maybe even a decade ago.

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It's a long time ago.

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And they're, they're referring to the story where the, where the cyclist

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involved is kind of not happy, but no specifics as to why he's not happy.

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And there's just this.

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General Buzz about, Oh, this is what happened.

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But it's such old news and it's, there's no specific allegation, but

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it's a, they're trying to, to throw mud where they've got none and they're

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just sort of waving their arms around.

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It's a really pathetic, it's really very pathetic, and I think it says

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more about the liberal opposition than it does about Dan Andrews government.

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Because my understanding, and you know, Bronwyn, you can fill me in if

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I'm wrong, but my understanding is the liberal opposition is hopeless.

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They have got a absolute loser at the top who has been quite, well, not

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complicit, but he hasn't done anything about the Christian takeover, the

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party, and now you've got all these nutts that are running and that type

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of thing, and they're going to actually dominate their, their upper house.

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So the papers are completely silent about that issue.

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Exactly.

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They're putting front page stories about old news, and it's not even just

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the, the liberal opposition, it's just this sort of nine Fairfax and Murdoch

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rags who are trying to run a smear where they've got nothing to smear

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and they're just rehashing a story.

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The other one is in relation to some steps that he fell down and

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injured himself quite badly and was off work for quite a while.

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And it's admittedly a low set of steps, like there's, you know,

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1, 2, 3 of them sort of thing, barely half a meter off the ground.

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But they seem to be, without saying it, suggesting how could somebody

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have injured themselves so badly on such a small set of steps and there's

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gotta be something more to this.

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And it just totally ignores the fact that.

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You can just fall over on flat ground particularly as you're getting

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older and break all sorts of bones and have all sorts of injuries.

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And there's nothing unusual at all in somebody having massive back pain

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in particular or other injuries, broken bones from falling down

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a relatively small set of steps.

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But again, there's no concrete sort of allegation here.

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It's just this, Oh, look at those steps.

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They're the ones he fell off and, and kind of, continuating, he was drunk

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and, and trying to lay out a row of dots for the reader to connect and

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somehow come up with some conspiracy.

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It's the most pathetic thing that's happened and every journalist

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involved should hang their head in shame And Media Watch did a sort

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of a good expose on it as well.

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And it just shows how rotten the media is in that they are having to.

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Try to drum up some sort of issues out of things that are 10 years

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old that have been dealt with.

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So, Dan Andrews I think has dealt with it quite well.

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Here's a little clip from him.

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Oh gee, Scott, at the risk of having you bounce out if I play

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this clip and hopefully Scott doesn't disappear when I do this.

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Fingers crossed everybody.

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Thoughts and prayers, , there's not much that surprises me really.

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But look, can any of you tell me what the point of this story is?

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Oh, I genuinely dunno.

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I genuinely dunno what the point of this story is.

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Can any of you explain it to me?

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It seems to be the stairs.

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Yes.

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Or maybe, Well, I don't know what you're gonna interview the stairs next.

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Like people can go as low as they want.

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I'm not coming there.

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Well, the bottom of the stairs.

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. Scott, you're still with us?

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Fantastic.

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I'm still with you.

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That was great.

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Yeah.

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Okay, The next question is, did the video actually play for the listeners?

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Yeah, that's the next question.

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Cuz I did spend quite some time doing test little test things and tell

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us in the chat room did the video actually play and not just the audio.

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That'd be nice to know cuz I did spend some time with people in Ukraine on

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that one, so that'd be good to know.

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So anyway look, I reckon this is a good reason why Queensland Labor, for

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example, should get rid of religious instruction lessons and replace it

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with media literacy lessons because they know that the mainstream press

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owned by the likes of Murdoch and nine Fairfax is going to be anti-labor.

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They, they know it and they've gotta educate the future generations as to

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how to view this stuff and, and read between the lines and figure it all out.

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And if, you know, if I was labor or in charge, I'd be, I'd be wanting

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kids to have an hour a week at least media literacy training.

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And I know they do that in Finland, I'm pretty sure.

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I think we did a story on Finland getting no audio.

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Finland, there we go.

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Just hate to put it in.

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So, yeah, so if you have any connection with the Queensland government, Mel out

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there put that forward as a suggestion.

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Get rid of religious instruction and put media literacy in because

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it's just incredible the lengths that these newspapers are going

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to, Fortunately, No government.

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Young people don't read them.

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No government wants their electorate, media literate.

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That wouldn't be good for them.

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Well, I think if you're a labor government given that the media is against you,

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more often than not, it would be in your interests to have them educated.

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You'd think so.

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But see, I had a I had a meeting up here with the with our local member up here.

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I was only in there for perhaps 20 minutes, thereabouts.

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And I talked to her and that type of stuff, and I said to her, the

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primary reason I was in there was to try and get them, get them to accept

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that religious instruction was wrong.

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Now, she didn't actually agree with me.

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She also didn't disagree with me, and she actually,

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One thing that really got her attention was when I said, If you want the nurse

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at Temple of Satan to stop its nonsense.

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All you've gotta do is back away from the, all you've gotta do is back away

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from I, and then they will pack up and go and you know, she actually

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really listened to that, really.

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But yeah.

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So, you know, your, you know, your court case and all that sort of stuff.

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Yes, it didn't work, but it appears to have got their attention.

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Okay.

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Just an update on that.

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We still have not heard anything from the dpp, so nobody's tried to contact Robin

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and interview him or anything like that.

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So we're just gonna let it sit for a few more months and and maybe

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after Christmas, early new year, maybe the 12 month anniversary, we.

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Maybe try and get some definitive answer from them.

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So at the moment, fortunately, nothing is expected and hopefully it'll all go we'll

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know for sure now another six months will be able to say it's definitely gone away.

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So, so yeah, that's the latest on that one.

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No, you know, all quiet on the Western front as far as that's concerned.

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So, no news is good news.

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Mm-hmm.

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, So, Okay.

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Article in The Guardian.

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So Scott, still on Religious Matters, Federal Attorney General Mark Drefus

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has asked the Australian Law Reform Commission to review the country's

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religious exemptions for schools and how that should be dealt with

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in federal anti-discrimination law.

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So asking the law reformed commission to review it as if it hasn't

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been reviewed enough in the last.

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Four or five years.

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But well, at least he's got the whole, he appears to be doing the

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right thing by getting the law reform commission to look at it first.

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Mm.

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And then after that they can come back with suggestions and all that sort of

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shit for a religious discrimination bill.

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Yeah.

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Except according to this article what the Law Reform Commission will look at

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they'll be addressing labors three main principles for anti-discrimination law.

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So these are apparently labors three main principles that that any law not

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discriminate against a student on the basis of sexual orientation, gender

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identity, marital or relationship status, or pregnancy sounds.

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Okay.

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Also that it not discriminate against a member of staff.

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For those same reasons.

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Sex, sexual orientation, gender identity, marital or

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relationship status or pregnancy.

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So basically there two of labor's, three main main principles.

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The third apparently labor principle is that schools can continue to

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build a community of faith by giving preference in good faith to persons of

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the same religion as the educational institution in the selection of staff.

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So provided they don't discriminate against staff or students on the

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basis of sexual orientation, gender identity, marital or relationship

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status or pregnancy, then it's okay.

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And this totally ignores, this is just a green light to say, guess what?

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Schools, it's okay if you wanna discriminate against somebody

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because they're an atheist.

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go right ahead.

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Or if they're a satanist discriminate against them, go right ahead.

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Or if you're a Christian school and the person is non-Christian, go right ahead.

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It's just appalling that this is a Labor party principle, that they'll

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protect people for gender and sex things, but they won't protect

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them if they're simply an atheist.

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Terrible by the Labor Party.

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Scott.

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Am I just ranting or have I got a point?

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No, I think you've got a point there, but you know, it's, it's like, you

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know, you get reminded things from Facebook and all that sort of stuff.

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I got reminded of something that I posted years ago when it was Dan

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Andrews was first being elected.

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Mm-hmm.

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. And I said, you know, the first 10 minutes or something like that, no, only

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10% of the vote is being counted, but the, the move to the labor opposition

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is 15 or 20% or whatever it was.

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And I said, you know, there's a very good message in that for the, for the Tories

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back away from the godfathers back away.

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And I honestly believe that's very good advice for both sides

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of government, both the opposition and the, and the government.

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Because I think that they've both gotta back away from the God bothers and

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then the God bothers can go off and try and set up their own bloody family

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first and get knocked on their head.

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Mm-hmm.

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. And that will be the end of them.

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Mm.

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You know, they'll go back to what they always should have been,

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which was just something that was off out there in the ether.

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Yeah.

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Anyway.

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Quite okay to discriminate against people because of their religion,

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provided it's, you know, Christians discriminating against non-Christians,

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which is essentially what happens.

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So, joining the chat room says, Where did I find that?

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And it was an article in The Guardian John, which will be in the show notes.

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So, an article titled Labor Take Step Towards New Religious Discrimination Laws

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With Review of Exemptions for Schools.

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Google it and you'll find it in The Guardian.

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Joe, you found an article about negative gearing, which is set to basically

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the cost to the budget of negative gearing is just going to get bigger

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and bigger as interest rates rise.

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Mm-hmm.

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, and there was an article in an ABC online addition that talked

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about this is going to reach 20 billion a year within a decade.

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The two things, the capital gains tax concessions that property investors

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get and also oh, and the other part of this was that most of these

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benefits go to the top end of town.

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So, 39% of negative gearing benefits go to people earning more

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than basically 130,000 a year.

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And Those people on less than 51 and a half thousand a year.

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So basically the bottom 50% of income earners they'll only be getting

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4% of that total cost or benefit, if you like, of negative gearing.

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So it's a lot of money and it's going to the upper ends of the wage spectrum.

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Did I just repeat everything you needed to say, Joe, or did you wanna add

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a further element of discuss to it?

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No, no.

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I just thought it was interesting that effectively negative

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gearing, what a surprise.

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It, it values the top end of town and, and the average person is

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gonna lose out because of it.

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And Scott, what would you have to say to those scumbags who negatively gear?

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Okay.

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I've got a negatively geared property

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I bought a DHA property and that sort of stuff in the South Ripley.

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So yes, you can throw rocks at me if you want to.

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No, you, you deal, you work with, the lawyers are given, like, people would

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say, Love you, socialism or communism.

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Give, give all your stuff away.

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But that's not gonna be working in, I've got this, you know, I've got this

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place up here in Mackay that I own outright, and then I just had this

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extra money and all that sort of stuff.

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So I started looking around for investments and I did buy some

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shares and that sort of stuff.

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But then I also thought to myself, you know, I've gotta get a, a

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crushing mortgage, I think, which is what the better half said.

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So I got a crushing mortgage on this place and that sort

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of stuff down in South Ripley.

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And I understand exactly where you're coming from.

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Mm.

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Do I think that we should change the capital gains tax laws?

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Yes, I do.

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I do believe that they should go back to the way they were set up, which is

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you got a which is where you bought a property and that sort of stuff,

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and then you paid only, you paid only capital gains tax on the profit that

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you made after the what was it called, the inflation rate, that sort of stuff.

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I think they should go back to that because that was

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a very simple thing to do.

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You just calculated and moved on and not Harvard.

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No, exactly.

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You know, it's just, I, I, you know, however, having said that,

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I've bought under these rules and all that sort of stuff.

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No doubt.

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The government, if they ever decide to go back to that is gonna say,

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Those of you have bought under those rules can still sell under those

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rules and all that sort of stuff.

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So they'll grandfather it.

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Exactly.

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So I'm not going to be, I'm not gonna be bothered by it, but

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it's just one of those things.

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I just think to myself, if they want to make it fair and that

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sort of stuff, they should go back to the way it was calculated and

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then that would be a lot fairer.

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You know, it's one of those things I, I can understand where the government was

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coming from and all that sort of stuff.

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It was the Howard government that gave us the middle class welfare.

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Yeah, exactly.

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Mm-hmm.

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. It was middle class welfare.

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There's no doubt about that.

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And it's just one of those things like, you know, you, you, you can see

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it all, you know that they talk about, I think it's 80% of rental properties

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and that sort of stuff are owned by mom and dad investors, which is fine.

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However, what they're discovering is that mom and dad as an investor,

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They're not real nice landlords, , and they apparently and, and they're

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just another competitor at the auction when it comes to purchasing.

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So, Exactly.

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You know, really it's a fundamental thing of do you think property

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should, you know, shelter?

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Should it be an investment vehicle?

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Should we be encouraging it as an investment vehicle?

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And I'd say no.

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Like we want, it's a very Australian way of viewing property.

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It is as an investment and it's a very popular barbecue

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sort of conversation point.

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But I think if you went to Germany or Austria or places like that, you would

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not get anything like the same number of people having investment properties

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in Germany or even primary in Germany.

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It's, it's very unrealistic.

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It's mostly people rent for their whole lives.

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Hmm.

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, you know, it's just one of those things, their rents don't go up

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dramatically like ours have though.

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Mm-hmm.

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It's, it's not seen as a great investment.

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It's category,

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but, you know, it doesn't make any sense.

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Scott, you know, let's say you buy a house for 500,000 and you sell it

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for a million and you had it for five years and inflation was running at 5%.

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So it should be the case that, Alright.

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The original 500,000 in today's money is now 580,000.

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Therefore, you've made a profit, if you like, of 420,000.

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Well at least pay tax on that full 420,000.

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But the way it currently works is you then have that 420.

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Yeah, so you're on tax on two $60,000 of it all and all that sort of stuff.

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Meanwhile, if you've been flipping hamburgers or pouring beers or

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handing out coffees and you've earned that 420,000, you pay tax

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on the full, on the full amount.

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So why should capital gains income just get halved?

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It?

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It's just an unfair arrangement.

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For starters.

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It, yeah, it is quite unfair.

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Mm.

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It's one of those things now.

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Mm-hmm.

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, so, you know.

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Yeah.

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I mean, in Jersey where I lived before I moved over here you

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got tax breaks on your primary residence, but not on any investment.

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Which made far more sense to me.

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Yeah.

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Because as a first time buyer I was struggling.

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Yep.

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And so getting the interest taken off my tax was great for me.

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Rather than giving it as a break for somebody to invest and earn the opposite.

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Yeah, the opposite.

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Yeah.

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These things go on around the world.

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It's not hard to look at 'em and say, That's probably a better system.

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Why don't we just introduce that course?

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You need a set of balls to actually sell invested interests.

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Well, that's the whole point.

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You, you've got, you know, you do have a hell of a lot of people that are

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already invested in that sort of stuff.

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If you, you grandfather them and that sort of stuff and say, Now look,

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we're not gonna be touching you.

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They're still not gonna believe you because you were the party that introduced

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that tax and that sort of stuff.

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Mm-hmm.

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. And that is where the problem is.

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Anyway, it's, Yeah, I've got a theory on grandfathering Scott, which is, you

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gradually run down the grandfathering.

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Yeah, I agree.

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So you could say, you know what this sort of 50% discount that we

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give you, we're gonna, we're gonna phase that out over five years.

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So if you sell your property tomorrow, you can have the full

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50%, but next year you only get 40% next year, 30% next year, 20 10 0.

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And you can sort of phase these things out as well.

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So I don't have to be grandfathered forever.

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No, I agree.

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It's one of those things now, you know, I don't know if you were trying

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to make me feel guilty about my investment property, but No, I wasn't.

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I was just teasing.

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Yeah, I know you, I was just having fun.

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Yeah, I know.

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It's one of those things, it's but it, it actually proves the point,

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like you'd have to work with the rules that, that you are presented with.

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So there's Yeah, it's, there's nothing wrong.

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I go back to a high court ruling, which was many, many, many moons ago, and it

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was said that then the judge in the, in the high court said, he said, If a

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there is no moral, there is no moral compulsion to pay tax, only legal

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compulsion to pay tax if a text mm-hmm.

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if a man can structure his affairs in a way within the law to minimize the

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amount of income tax that he must pay, then he is quite entitled to do so.

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Mm-hmm.

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. So that is what's what, one of the reasons that I have bought this

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place and that sort of stuff, because I'm just acting within the law.

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Mm.

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Yeah, no criticism Scott.

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I was just you cuz I knew your circumstances and Yeah.

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, which is fine.

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You know, it's if, if the laws change and that sort of stuff, I will, I

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will, I will comply with the law.

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Yeah.

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Last week, that's quite right.

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Last week we had a brief guess at average wage and median wage.

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Mm-hmm.

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and I did take the time, dear listener, to have a quick look.

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And the average wage, well this is for 2019.

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2020 was 63,882, but the median wage was 48,381.

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So I think when we talk about wages, The, the key figure is the

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median wage lining everybody up from the poorest to the riches and

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stopping halfway along the line.

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Okay.

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What's that person earning?

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And that is the 48,381.

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Is that the median or is that the modal?

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That's the median.

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Modal is where you have it's the bunch of people on 50,000.

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Yeah.

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Not so many on 20, not so many on 80.

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The modal is 50, but yeah, that's not, Yeah.

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Okay.

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Gonna work in this situation.

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So, because averages can be misleading.

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And in this article from the abc, just to sort of make the point why is average

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taxable income higher than the medium?

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And it's because some exceptionally well paid people dragged the average up.

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So imagine you had 10 people in a room, nine of them earned $10,000 a year.

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And one of them earns 500,000 a year.

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The average would be 59,000, but the medium would be 10,000, which

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would be much more representative of the true situation.

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So that's that's the wages in Australia from two years ago.

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And interestingly in the same article, I think it was the same article.

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What about a link to it talked about superannuation, just what

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most people have with super.

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And if you are in the well, who's the average listener here in the chat room?

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How old are you out there?

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Let's go for fifties . I was gonna say forties and fifties.

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Yeah.

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45 year old male, average super is about 120,000 female.

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About 80,000.

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Oh no.

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Female is about Yeah, about 80,000 55 to 59 age group, average super balance.

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Male would be about 160.

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Email, about 115, 110.

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So there's quite a disparity between male and female in these figures.

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Actually, I think I've got this Facebook audience.

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Yeah.

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Are 67% male, 32.8% female with most of our listeners between 25 and 54.

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Oh, there we go.

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The 45 to 54 is slightly higher than 35 to 44, which is slightly

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higher than the 25 to 34.

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Well, if you're in the 35 to 39 age bracket, then males typically have about

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65,000 females, about 50, and it tends to actually I wonder if I can bring this up.

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I think I can.

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I think I've got this presentation on here, so, I won't bother at this point.

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It, it's funny enough, men have a lot more super than women until you

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actually get to the retirement age of 65 and then the women catch up.

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And I think that's because probably lots of people are able to structure

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their affairs and downsize the family home and put money into the

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female name or something like that.

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So, 65 to 69 year age group.

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Typical male, 180 female, 175.

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There you go.

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So now you know the median wage and the typical superannuation.

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Figure out how you compare to the average Joe or the average Scott.

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But don't compare yourself to the average Allen Joyce.

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CEO of Qantas, that guy's done a shocking job.

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He's completely trashed the good name of Qantas.

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I'm sure Shay would disagree with you though.

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I think Shay would be very much in agreement.

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And so his take, aim pay last year was 2.27 million up

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from 1.98 the previous year.

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So just his take home pay 2.27.

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But shareholders voted overwhelmingly to give him a performance

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bonus worth about $4 million.

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And we just had somebody crazy in the chat room, some some crazy bot.

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So we'll get rid of that.

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So yeah, he's got a bonus of 4 million.

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And they also voted to give him long term rights amounting to another 5

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million deferred for three years.

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So they've just rewarded this guy with buckets of money.

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And when anybody looks at the performance of Qantas, they go they go, Well,

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how can anybody be given special bonuses for what's been happening?

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But that's the way the world works.

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Scott, any explanation?

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You're there, Scott.

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Scott's disappeared.

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He's disappeared.

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Has he?

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Yeah.

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Looks like it, right?

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See if Scott comes back.

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We've talked in the past about rules-based international order, by the way.

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It's really, Oh, Scott is back infuriating when you.

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No, I don't have any explanation for it.

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Oh shit.

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Hello?

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Yeah.

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You with it?

Speaker:

Can hear.

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Fuck no.

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Scott, we can hear you now.

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Is wrong with that?

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Oh, maybe he's listening to that.

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I, We can hear Scott.

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Go ahead.

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Unless he's playing catch up.

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Oh Scott, what do you, you might be listening to the actual broadcast

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rather than listening to us.

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Luckily I've got Joe, the tech guy here, , as well as dealing with internet.

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He's dropped off completely now as well as dealing with internet trials.

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He's now gonna try and reconnect Scott as well.

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So if you're in the chat room when we sort of wipe the the

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chats we'll bring them back up.

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So can you put the chats back up, Joe?

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I think that would be okay now.

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Yeah.

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Then if you start chatting again, takes about 30 seconds to time out.

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Yeah.

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It'll start appearing and And that person who was selling sex services

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or whatever they were doing, Hello.

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Hopefully disappeared.

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Scott's back.

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Can you hear me, Scott?

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No, he was talking but he can't hear me.

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I'll keep Rabbit on.

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Oh, you can hear me Scott?

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Yeah, I can hear you.

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Okay.

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Scott, tell us how you feel about Alan Joyce and his massive bangas.

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Well, you know, I just think it's bloody ridiculous that they actually

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voted for that because, you know, I'm a long-term cus quarters

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customer and that sort of stuff.

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I fly back to Brisbane once a month on them.

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Mm-hmm.

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and, you know, I haven't experienced the extreme stuff.

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UPS and that sort of stuff that ended up getting, that they ended up

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giving us all 50 bucks for mm-hmm.

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, but you know, it's not a real pleasant experience when you heard it on there

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and that sort of thing with them.

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Mm-hmm.

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, they're not the premier airline.

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They weren't once were.

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And it's really quite infuriating when you get what's the word I'm

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looking for, when you just get stuffed up and that sort of stuff.

Speaker:

Like, you know, there's all sorts of stories about bags being sent overseas,

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which should have just made it down to Brisbane and all that sort of thing.

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Mm-hmm.

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and, you know, that is a real stuff up.

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And what you've actually found is it's because of the staff that were sacked

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illegally in the pandemic and they were replaced with contractors because they

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thought that they would save themselves.

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Some do, and it's turned out to be an actual cost for them.

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Yes, of course.

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Alan Joyce was also blaming customers because they were not match fit.

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Having been in a covid lockdown and not traveling, we lost our, our

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match fitness and our capacity to.

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Drag our own, our own bags and put them on a carousel properly.

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So, yeah.

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Anyway, which is, that's just, it's just typical that people don't, are

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not held accountable for bad decisions.

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And, you know, often it's the case, bad decisions are made, executive walks away

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with the bonuses opposed to, and it's only afterwards that people look at it and go,

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Oh look, actually that guy stuffed it up, Which we didn't give him those bonuses,

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but in this case we can actually look at it and go, he's trashed the brand.

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And and they're still awarding him with these bonuses.

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The system is, is not, Yeah, but it also, you gotta wonder what the

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contract says cuz as long as he meets certain targets, he gets his bonus.

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Yes.

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And, and his actions will be aimed at meeting those targets.

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So if the targets are barley balanced, He'll have concentrated on that to

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the detriment of everything else.

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Yes.

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And the board, no doubt would've taken advice from remuneration experts onto

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as to how to structure CEO remuneration.

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And gee, you know, who are you gonna hire as your remuneration expert?

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Somebody likely to suggest large pay packets, or somebody likely to suggest

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small pay packets, given that you sitting on the board, are also relying

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on the same remuneration experts as an inbuilt incentive for these people

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to employ experts who are going to suggest higher rates than smaller rates.

Speaker:

So I, I was listening to a discussion about expert witnesses in courts.

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Mm-hmm.

Speaker:

. And they were saying they're supposed to tell the truth and they're supposed to

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be, independent of whoever hires them.

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But if you are going out and you're looking at a hundred expert

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witnesses, you're gonna hire the one that most believes your story.

Speaker:

Yes.

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And you're not gonna hire the one that least believes your story, are you?

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Correct.

Speaker:

And there are certain expert witnesses saying AI cases or whatever, who

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are known to be good plaintiff.

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So good for defendants, even if they were absolutely, you

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know, completely scrupulous.

Speaker:

They, they absolutely only said what they believed, truly believed.

Speaker:

You would still hire the expert witness that aligned most with your case.

Speaker:

Of course.

Speaker:

Yeah.

Speaker:

So everybody knows that it's not necessarily these experts on

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nefarious, it's just when you're hunting around, you find the one that

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will give you the outcome you want.

Speaker:

Indeed.

Speaker:

Yeah.

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Okay.

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So yeah, that was Alan Joyce, right?

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Scott?

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Yes.

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The USA is very keen that on international rules based order and

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a thing came through about there was a vote in the un about whether to

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continue with the block aid of Cuba.

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So there's currently very severe sanctions on trading with Cuba.

Speaker:

So for example, any ship that docks in Cuba, I think is not allowed to then

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enter the United States for at least six months or something like that.

Speaker:

So, it's really expensive to ship things to Cuba because.

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Normally it would pick stuff up from the United States and bring it back.

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So, yeah, a whole bunch of other sort of sanctions that are imposed

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on Cuba and United Nations.

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And the vote was 185 to two against the blockade.

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And the there were two abstentions that's the word, ab abstentions.

Speaker:

So those who voted in favor of continuing the blockade or the USA and Israel.

Speaker:

The two that abstained were let me just see here if I can find them, was

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Ukraine and Brazil under the Bolsonaro government, which is recently just left.

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So, The rest of the world voted against the sanctions.

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It's not a good look.

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I think Scott Israel's coming under increasing criticism in the world.

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I think people are referring it to it as an apartheid state and things

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like this are not good, rightly so, because, you know, Israel has behaved

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very much like an a apartheid state.

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You know, it is bloody criminal the way they treat the Palestinians.

Speaker:

Now, that doesn't, you know, please don't take me for being antisemitic

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here or anything like that.

Speaker:

You can be critical of the Jewish state and not be critical of Jews.

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I do not for one minute believe that if the PLO were as well armed

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as the idf, that they would not stop pushing until they'd push

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the Jews into the Mediterranean.

Speaker:

Mm-hmm.

Speaker:

, you know, it's one of those things.

Speaker:

But Israel has got to accept that they've got the upper hand

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militarily and that type of thing.

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And with comes with that a level of responsibility.

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They have to be prepared to shoulder their arms a little more and take

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their fingers off the trigger.

Speaker:

And they have to show real restraint when they're dealing with the Palestinian

Speaker:

people because the Palestinian people have got every right to be very pissed

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off for the way they've been treated.

Speaker:

Mm-hmm.

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, Israel's definitely turning into a bit of a pariah state, I think.

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Absolutely.

Speaker:

Who were sympathetic towards it maybe 20 years ago, increasingly less so.

Speaker:

So these sorts of things like this vote against poor Cuba the US and Israel.

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I know it's really quite ridiculous that, you know, the, such a threat to the world.

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Yeah.

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The Yanks have to accept that Cuba's.

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Big patriarchal friend is dead, the Soviet Union is gone.

Speaker:

So Cuba is no longer any sort of threat to the United States.

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So if they wanna call themselves a Marxist economy, let them call themselves Marxist,

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it's no problem because they can't do anything to the US or anything like that.

Speaker:

I just think the Yanks just look very childish when they

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continue this blockade of Cuba.

Speaker:

Indeed.

Speaker:

So speaking of sort of sanctions interesting thing has occurred.

Speaker:

So there's a group of seven rich nations plus Australia.

Speaker:

Well I guess that's the G seven . So the G seven plus Australia they've agreed to

Speaker:

set a fixed price when they finalize a price cap on Russian oil later this month.

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This is scheduled to take effect on the 5th of December where these

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countries, G seven plus Australia, have decided that there's gonna

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be a price cap on Russian oil.

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And the idea is to to ensure that the EU and the US sanctions aimed

Speaker:

at limiting Moscow's ability to fund its invasion of Ukraine, to

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not throttle the global oil market.

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So the idea is, well, we need the oil, but we don't want

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Putin to get rich from the oil.

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So we are just gonna impose a, a price cap and . And that's gonna

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start on 5th of December for crude and 5th of February on oil products.

Speaker:

Guess what Russia said?

Speaker:

Russia said, Well, we just won't supply.

Speaker:

If you are gonna set a price cap, you just can't unilaterally tell us.

Speaker:

That there's a price cap on our oil we'll set the price that we wanna sell it at.

Speaker:

Thank you very much.

Speaker:

And if you're not gonna pay it, then we are not gonna supply it.

Speaker:

I mean, it's quite extraordinary for, for Australia and the G seven countries

Speaker:

to say, Well, we're just gonna tell Russia what it can charge for oil.

Speaker:

I mean, we still want their oil and we're gonna challenge, but we can tell 'em what

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they can charge for it, for goodness sake.

Speaker:

Yeah, that is a little bit ridiculous.

Speaker:

I mean, the world's gotta recognize, and the US has gotta recognize that

Speaker:

Russia, India, China are too big and what worked against Venezuela and

Speaker:

Cuba will not work with these guys.

Speaker:

So, John says the US has still got sanctions on Venezuela, but are

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now talking about buying their oil.

Speaker:

That's right.

Speaker:

They're suddenly cozying up to Venezuela and wanting to be friendly again.

Speaker:

It's pathetic.

Speaker:

So,

Speaker:

Found this article called Global Finance Versus Global Energy,

Speaker:

Who Will Come out on Top.

Speaker:

And this was by Dr.

Speaker:

Karen Nessi, who's an energy analyst, author of 14 books on

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energy related and other topics.

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She was Austria's foreign Minister for two years.

Speaker:

She served 10 years in the Foreign Service and she's fluent in classical

Speaker:

Arabic amongst other languages.

Speaker:

Currently living in Lebanon.

Speaker:

Sounds like a very interesting lady.

Speaker:

And so she says there's more to the current struggle between the oil

Speaker:

consuming west and the oil producing nations then meets the eye and it runs

Speaker:

far deeper than the war in the Ukraine.

Speaker:

So she says, in this war between global finance and global

Speaker:

energy, one fact remains clear.

Speaker:

You can print money, but you can't print oil.

Speaker:

So, the European Union agreed to impose a Russian oil price cap, and

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this is back in the 6th of October.

Speaker:

23 oil ministers from the OPEC Plus Group spoke out immediately in favor of

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a sharp cut in their production quota.

Speaker:

So there's OPEC and there's 10 non OPEC energy producers in the sort

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of collectively now called OPEC Plus, and they're now coordinating

Speaker:

their production of oil, and they've been doing it since 2016.

Speaker:

And originally people thought, Well, good luck.

Speaker:

You guys won't be able to organize yourselves, and you're not

Speaker:

gonna be able to pressure the world like you think you can.

Speaker:

But today former rivals such as Saudi Arabia and Russia are managing to converge

Speaker:

their interests into powerful cards.

Speaker:

So, It used to be normal practice for reyad to take into account and

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execute Washington's interests.

Speaker:

But a simple phone call was enough, but that's changed.

Speaker:

And talks about the proxy war in Ukraine and she said that you've got the US and

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European allies who basically represent the finance sector and they're engaged in

Speaker:

a war against the world's energy sector.

Speaker:

And while it's easy to print paper currency, and the US was doing a lot

Speaker:

of it, as well as other countries with quantitative easing oil cannot be printed.

Speaker:

It's a fundamental problem for the west and it's gonna win out at the

Speaker:

end of the day, is what she is saying.

Speaker:

So, she wrote a book in 2005 called The Energy Poker and and she dealt with the

Speaker:

issue of currency and whether oil will be traded in US dollars in the long term.

Speaker:

And she says, At the time, my interlocutors from the Arab OPEC

Speaker:

countries unanimously said that the US dollar would not be changed.

Speaker:

Yet 17 years later, that view has devolved starkly.

Speaker:

So, dear listener, this is the key.

Speaker:

When the world collapses financially, one of the reasons

Speaker:

it's all gonna relate to currency.

Speaker:

And essentially, after the gold standard was abandoned, the US basically said

Speaker:

to Saudi Arabia, Okay, sell your oil, but you have to trade in US dollars.

Speaker:

And provided you do that, we will support you.

Speaker:

But you have to buy.

Speaker:

People have to buy and sell oil in US dollars.

Speaker:

And for the us, that was a big advantage because basically it then meant that.

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Okay.

Speaker:

A US dollar was no longer equivalent to certain, you know, number of ounces

Speaker:

of gold, but it was equivalent to certain number of barrels of oil.

Speaker:

And so that agreement with Saudi cemented the US dollar as the

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wills de facto reserve currency.

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If you have a US dollar, you can get a suitable amount of oil.

Speaker:

It gave the US dollar value, but now because of what's happening and is

Speaker:

accelerated by the Ukraine War, these countries of Russia, India, Iran,

Speaker:

China, are now dealing in oil and deciding not to use the US dollar.

Speaker:

And that's a huge change and it's a massive, it's a massively important

Speaker:

change in the world affairs.

Speaker:

And think I'm gonna talk about it next week a little bit.

Speaker:

So, So just finishing off this article here, Washington no longer

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maintains its ability to exert absolute leverage on opec, which is now

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repositioning itself into the OPEC Plus.

Speaker:

She's basically predicting the oil suppliers will win out.

Speaker:

And just in relation to China.

Speaker:

So until the early 1990s, China satisfied its domestic oil consumption with

Speaker:

domestic oil consumption, about three to 4 million barrels per day, but 15

Speaker:

years in a rapidly growing economy later.

Speaker:

And China is now the world's number one oil importer.

Speaker:

And guess what?

Speaker:

When it imports oil from these guys, it doesn't wanna be paying in US dollars.

Speaker:

And they're accepting Chinese money now.

Speaker:

So, so, Saying here?

Speaker:

Yeah, I think that's the main point of the article.

Speaker:

So she thinks it's a battle between oil producers and finance money printers

Speaker:

and the oil producers are gonna win out.

Speaker:

And I've been reading lots of stuff over the last 12 months about this whole

Speaker:

thing with the currency and I think when it all turns to shit for America, it's

Speaker:

the US dollar and it's collapses, the reserve currency that's going to be the

Speaker:

thing that really tips 'em over the edge.

Speaker:

There's a prediction.

Speaker:

Might take a year, it might take 10, might take 20, but we'll see.

Speaker:

So you think they getting it up as another civil war?

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Civil war in America?

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Yeah.

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Yeah.

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Oh, well then that'll precipitate all sorts of issues in the country when

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suddenly overnight the economy collapses.

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So, yes.

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Civil war, I mean, Californians and somebody in the south, I

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mean, they are so different.

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They may as well be different countries, so, Exactly.

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Yeah.

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It will get pretty, pretty ugly and well, you, you know, they, they're gonna

Speaker:

have to be very careful because a lot of the nukes are based in the southern

Speaker:

states and all that sort of stuff, so you don't want the nukes falling into

Speaker:

the hands of the Republic of Gilead, which is what it will end up being.

Speaker:

Yeah.

Speaker:

You don't want the nukes in the, in a country like that, you know, Now it's,

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they're going to have to very quietly move the nus out of those north of the

Speaker:

Mason Dixie line, so that once the country splits in two, the nukes aren't going

Speaker:

to be in south of the Mason Dixie line.

Speaker:

I hadn't thought of the nuclear issue when it came to the American Civil War.

Speaker:

Scott, it's another frightening element to it.

Speaker:

It is very frightening because you've got these lunatic who, wouldn't

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actually mind nuking a couple of places.

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Well, and they would justify, They'd justify themselves and all

Speaker:

that sort of stuff by saying, Oh, we were just sending them to God.

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Mm-hmm.

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Yep.

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You know?

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Well, they're godless hens in California.

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Yeah, exactly.

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So they've got acum.

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Mm-hmm.

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Yeah.

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John says, I don't think it's civil war.

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Maybe some states succeeding from the.

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Is that the same as Civil War?

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Well, what happens, John, is some states want to succeed and

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the other guys say, Not so fast.

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Yeah.

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We're not gonna let you.

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I mean, that's what happened in the first civil war.

Speaker:

So they said, Oh, we'd like to go.

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Thanks.

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Yeah.

Speaker:

Not so fast.

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I mean, it's just one of those things like, I remember my brother

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years and years ago who was talking about the Civil War and he said, you

Speaker:

know, a lot of it wasn't, he said it wasn't down to just slavery, it was

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down to over the right to secede.

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Yes.

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Which is why it all blew up.

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Mm-hmm.

Speaker:

indeed.

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Yeah.

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Anyway, just generally on Europe then, I mean, they're in trouble

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because without cheap Russian gas, they just can't compete.

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So.

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Yeah.

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And that's really very annoying actually, that Germany is continuing down the road

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of closing their nuclear power plants.

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Mm-hmm.

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. Now, one would've thought that considering you've got a shutdown of.

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Cheap Russian gas coming into the country, that you've got a very good reason to keep

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your nuclear power plants turning over.

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Mm.

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My view of all this, Scott, is that in Australia, we don't need nuclear power.

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No, we, we don't need, We don't see that Europe does.

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Exactly.

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It's just one of those things like Europe, Europe's further down the

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renewable road than we are, but they've got a long established nuclear industry,

Speaker:

which has been completely blemish free.

Speaker:

I mean, I bet you can name three nuclear power plants, or maybe the latest two

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in Ukraine, but you can name she Nobel.

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Fukushima in three Mile Island because they're the only three that

Speaker:

have had disas, have had problems, but you can't name any of the

Speaker:

nuclear plants in France Capital.

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Sorry, Ken Capital I to live opposite.

Speaker:

Right, fair enough.

Speaker:

But you know, I bet you can't name any of them.

Speaker:

They're in Sweden or anywhere or anywhere like that.

Speaker:

And then Hinkley Point in England.

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Well, fair enough.

Speaker:

And Sellafield, Sellafield had a nuclear accident.

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Oh, did it?

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Yeah.

Speaker:

Hmm.

Speaker:

Anyway, it's, I get the point that you're making Scott.

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Yeah, exactly.

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None of, most of us can't name them because they're genuinely

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safe, but they're further down there down the road than we are.

Speaker:

I think it is absolutely ridiculous that Dutton is still talking

Speaker:

up nuclear power for Australia.

Speaker:

So nuclear that was built in the sixties and seventies is a sunk cost.

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Exactly.

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And the cost of keeping it running is very, very different

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to the cost of building from you.

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Exactly.

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And if you were gonna start up right, If you're gonna start up

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now, you've got a huge amount of money that you've gotta spend on it.

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It, it just makes no sense.

Speaker:

Like, you know, it's, you know, Paul, bless his heart, he had a, he had a very

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much a nuclear, he loved nuclear power.

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Mm-hmm.

Speaker:

, but you know, he would not ever get it through his head.

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That renewables have come down in price so much that they now make

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perfect sense that we should go with renewables rather than nuclear power.

Speaker:

Well, especially with pumped hydro.

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Exactly.

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Paul would argue that there is not enough storage to make renewables

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reliable enough is what he would say.

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Yeah, I know, but we've already got that, You know, they've got this

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thing that's going up west of Mackay and that sort of stuff up here that's

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gonna generate more than two thirds of the electricity for Queensland.

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Really?

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Yeah.

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Solar farm.

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No, this is the Oh, this is the dam.

Speaker:

Yeah, the dam, Yeah.

Speaker:

The pumped hydra.

Speaker:

So the, the idea is that you have a surplus of solar during the day

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and that will pump between solar.

Speaker:

Yeah.

Speaker:

You pump the water up the hill and then overnight and in cloudy conditions.

Speaker:

And if you solar plants and your wind plants are diverse enough, so covering

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a large enough area of country, the weather is different in different places.

Speaker:

And so you've got a surplus of generating capacity and you store the surplus that

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you do have to tide you over in the periods where you're not generating.

Speaker:

Mm-hmm.

Speaker:

and they've done the sums looking at the weather patterns

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and it's all very feasible, so.

Speaker:

Mm-hmm.

Speaker:

. Yeah.

Speaker:

Anyway, that that's Europe.

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They are in trouble.

Speaker:

They're in real trouble over there.

Speaker:

They're in real trouble because, you know, you've got this, you've got the current

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situation that the French government and that sort of stuff are all wearing

Speaker:

turtlenecks underneath the jackets.

Speaker:

Mm.

Speaker:

Just to say, Look, you can be warm if you wear this.

Speaker:

Mm.

Speaker:

You know, they're just trying to get everyone ready for a cold winter.

Speaker:

Mm-hmm.

Speaker:

. Yeah, we once again, the lucky country now,

Speaker:

Oh, very much so quick advertisement break.

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Don't do it all the time, but thank you very much to the patrons.

Speaker:

All right, computer chips.

Speaker:

This kind of ties in with the sanctions sort of theme that we've got going

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in the background of this podcast.

Speaker:

So the US and the Netherlands are expected to hold a new round of talks

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this month on restricting China's access to advanced chip technologies.

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So Washington is trying to ramp up pressure on the Netherlands

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to block this company called A S M L from supplying China.

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With the sort of equipment that it wants to make top end chips.

Speaker:

So, they already don't give China the very, very best stuff they've got, but

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America is pressuring them to, to also stop supplying the next level down stuff.

Speaker:

So pressure from America on the Netherlands to stop their

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company from selling chip manufacturing equipment to China.

Speaker:

Scott, here's a prediction.

Speaker:

China will figure it out for themselves and they will ramp up their capacity

Speaker:

to make chips and will eventually ruin Taiwanese chip making businesses

Speaker:

to the point where the Taiwanese will then say, Well, you've totally

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screwed us with our major industry.

Speaker:

If we join you, we'll let be.

Speaker:

Okay.

Speaker:

And can we start running our business again?

Speaker:

Like, if I was China and I look at Taiwan, Taiwan makes 65% of

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the world's semiconductors and almost 90% of the advanced chips.

Speaker:

And why would you invade if you could just simply crush their economy by

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making chips and undercutting them?

Speaker:

How's that sound as a, as a theory, Scott?

Speaker:

Yeah.

Speaker:

Okay.

Speaker:

I can understand where you're coming from, but I, I don't think you and I are ever

Speaker:

gonna agree on China because I honestly believe that China has got to accept

Speaker:

that they won that civil war and that the former island of Formosa has evolved

Speaker:

and grown into a, a sovereign nation called Taiwan or the Republic of China.

Speaker:

Now the People's Republic of China, that is the mainland.

Speaker:

That is a very different country to the Republic of China, which is Taiwan.

Speaker:

And I honestly believe that China's got to accept the fact that they have won that

Speaker:

civil war and that the Republic of China is an independent, sovereign ca country.

Speaker:

Mm.

Speaker:

And that the people's Republic of China is a very different entity now he has

Speaker:

made a hell of a lot of the hundred years of humiliation, or 200 years of

Speaker:

humiliation, whatever it was, and I can understand where he is coming from.

Speaker:

But Taiwan is not in the same category as the rest of the

Speaker:

humiliation that they have suffered.

Speaker:

Mm-hmm.

Speaker:

, because Taiwan has become independent ever since 1948.

Speaker:

49 whenever the revolution was.

Speaker:

Mm-hmm.

Speaker:

. So I can understand the humiliation between the British and the French

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and the Americans and all that sort of stuff, but they've got to accept

Speaker:

that Taiwan has evolved and is now an independent sovereign nation.

Speaker:

Mm-hmm.

Speaker:

now, honestly believe that where they should start with all that is that they

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can sit down and talk to them because they speak the same language and they

Speaker:

should actually say to them that, you know, we are prepared to accept you as

Speaker:

an independent sovereign nation provided that you give up your requirement,

Speaker:

your request for the South China Sea.

Speaker:

Because both the Republic of China and the People's Republic

Speaker:

of China both argue over that.

Speaker:

They both, they, they both lay claim to that.

Speaker:

Yes.

Speaker:

So if Taiwan said to the prc, Yeah.

Speaker:

The South China Sea is yours provided you give us that.

Speaker:

You recognize us as an independent sovereign nation,

Speaker:

that would be a step forward.

Speaker:

Yeah.

Speaker:

China's never gonna do that.

Speaker:

I know.

Speaker:

They're never gonna do that.

Speaker:

They're never gonna do that because G is got this fixation on reunifying Taiwan.

Speaker:

It's not like, it's not just like, okay, but you know, you

Speaker:

could, you gotta look at it.

Speaker:

This is the stuff, the history of it is being written and all that type of thing.

Speaker:

Mm-hmm.

Speaker:

, you know, the Qang ran across the, for the Taiwan straits to Formosa

Speaker:

and Formosa was still part of the, you know, that was back when they had

Speaker:

the QM Tang and that sort of stuff.

Speaker:

They were still there and they set up their own parliament

Speaker:

and all that sort of stuff.

Speaker:

Arguably, arguably they invaded the existing population

Speaker:

and, and overrun them and.

Speaker:

Yeah.

Speaker:

Okay.

Speaker:

Fair enough.

Speaker:

Existing natives of fora weren't real happy either, were they?

Speaker:

Probably not.

Speaker:

I don't know that, but it's one of those things, the whole point is, I

Speaker:

think, actually, I think there was a heavy Japanese culture by that

Speaker:

stage in for, because they'd been occupied Japan, long Japan occupied

Speaker:

Formosa before the second World War.

Speaker:

Yeah.

Speaker:

And that when the, Yeah, exactly.

Speaker:

When the, when the losing Chinese army, you know, Decamped there, they

Speaker:

were quite critical and scathing of the local population who they

Speaker:

saw as sort of very Japanese.

Speaker:

So anyway, we digress.

Speaker:

I just like the theory though, Scott, that if I was, gee, I would just work

Speaker:

on economically crushing their economy to the point where they would say,

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Can we please win your economy now?

Speaker:

Because we crushed the Japanese and the Japanese have always hated

Speaker:

the Chinese, but, but in terms of cost, it would be the way to do it.

Speaker:

From China's point of view, they're gonna have to become much more

Speaker:

self-sufficient with chip making.

Speaker:

They're gonna have to figure it out and produce their own chips because

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America's just going to keep interfering.

Speaker:

So, yeah.

Speaker:

But you to, to accept that.

Speaker:

To accept that you'd have to, No, China will never do that.

Speaker:

Never do what?

Speaker:

It's Scott, never do what you there.

Speaker:

Have we lost him again?

Speaker:

Joe?

Speaker:

Looking away, just as I'm getting on top on this argument, he pulls

Speaker:

the old technical difficulty trick.

Speaker:

Just as I'm really starting to screw down there.

Speaker:

Hello.

Speaker:

Suddenly.

Speaker:

Yep.

Speaker:

And back.

Speaker:

Scott, what do you mean?

Speaker:

China will never do that if China.

Speaker:

China, Okay.

Speaker:

I didn't hear you then.

Speaker:

What'd you say?

Speaker:

My argument was that China could figure out how to make these chips and

Speaker:

semiconductors, and if it put mine to it could produce them, subsidize them, and

Speaker:

basically cripple the Taiwanese economy.

Speaker:

Why wouldn't they do that?

Speaker:

It'd be much cheaper than trying to invade militarily as a tactic.

Speaker:

It's sort of, sounds pretty good, I reckon.

Speaker:

No.

Speaker:

Have you disappeared?

Speaker:

I move on . Okay.

Speaker:

Scott's disappeared.

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Yell out, Scott, if you can reappear.

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I'm gonna take that as full agreement with my argument.

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Alright.

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Robin was saying that the lunar eclipse is looking spectacular.

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Yes.

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There is a, a lunar eclipse stuck outside if you have a chance.

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Are you back, Scott?

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I heard him there in the background.

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Yeah, he was there for a second.

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Yeah.

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Alright.

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Put another coin in the meter.

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Scott.

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Yeah.

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, it's not much of an advertisement for regional Queensland.

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He's got, he's gotta use some of that rent money he's collecting from those tenants.

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Some, some proper internet fiber of the premises.

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Yeah, just box of all brand.

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Hmm.

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If you are predicting the end of the US empire, here are some things that

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might suggest that that is increasingly likely in the near not so distant future.

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Just some signs and it would be I didn't hear what you just said.

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All right.

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You back, Scott.

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You definitely there.

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Scott.

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Scott, I'm not gonna repeat myself unless you and he's gone.

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No, there you go.

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If you're looking for Signs in America has, is in trouble.

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Here they are.

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Number one, Saudi Arabia rejected Biden's demand to increase oil production.

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Instead they're working with Russia to cut production.

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And and in fact Saudi Arabia invited Xing P for a visit.

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Number two.

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Yeah, maybe they need to get Bangal bush over there to renegotiate.

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Yes.

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Number two, Lula one in Brazil.

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He's talking up a new currency to replace the US dollar.

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So actually I've got a clip on have I got a clip on Lula?

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No, I don't have a clip on.

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I've got it in writing somewhere.

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I'll come to that one.

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Actually, I'll find it right here.

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Lula said.

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So, he's insisted that when his workers' party lost power in 2016, he said that

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the bricks, so that's Brazil, Russia, India, China the major shortcoming

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was it's failure to in South Africa.

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Thank you.

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The major shortcoming was its failure to launch a new currency to rival the dollar.

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And in an interview from prison, Lula recalled a quote.

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When I discussed a new currency, Obama called me telling me, Are you trying

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to create a new currency, a new Euro?

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And I said, No.

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I'm just trying to get rid of the US dollar, so that tells you how

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Lula feels about the US dollar.

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So he's the new Brazilian president.

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Other things that have happened that don't bode well for America is that

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Argentina, Saudi Arabia and Iran are exploring membership of bricks.

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And the China led Shanghai cooperation organization has

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added Iran as a new member.

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And Qatar has rejected a price cap on Russian energy, and Singapore

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clearly says it's not going to choose between China and the usa.

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India increases purchases of Russian energy products and pays

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for some of it using Chinese Yuan.

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And German leader visited China.

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And yeah, so there's a whole bunch of things going on that don't

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pay well for American Hege money.

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Scott, you back?

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No, you'll have the ping money joins.

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Oh, okay.

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Right.

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Allison can't see the eclipse cuz she's got clouds.

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Same with John.

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How does the world view Russia and China?

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So this was a report from the Bennett Institute at the University of Cambridge

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and in this report they examined how worldwide attitudes towards China, Russia,

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and the United States are shifting.

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So they looked at data from 30 global survey projects that collectively span

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137 countries and they've analyzed this.

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So it covers not only high income democracies, but also a

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comprehensive coverage of emerging economies of the global south.

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And they say there is a new cleavage.

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The strongest predictors of how societies align respective to China

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or the United States are their fundamental values and institutions.

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So if you're looking at the 1.2 billion people who inhabit the world's liberal

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democracies, let's just call it the West three quarters have a negative view of

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China and 87% a negative view of Russia.

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But if you look at the 6.3 billion people who live in the rest of the world, the

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picture is reversed in these societies.

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70% feel positively towards China, and 66% positively towards Russia.

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So we are in a bubble here when we are looking at this and we

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have to recognize that 6.3 billion people don't think the same as us.

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That's a lot of people.

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I, China, I know people who are in both directions on China.

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Mm-hmm.

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. But my Russian friends are definitely keen to have or happy to have escaped.

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I think Putin's, Putin's Russia is not a place that most of us would

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want to live, but this is the view of 6.3 billion people who don't live in

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Russia as to what they think of Russia.

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So, you know, they just says that they're, they're yeah.

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Favorable view of the country.

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Press core is doing very well.

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Yeah.

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Yeah.

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And you know, you might look at it and go, I love what they're doing, just

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glad I don't live there, for example.

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That could be well attitude.

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So, So, let me see here.

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So the boosting approval across the global south for China comes

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at a cost in the developed nation.

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So, and we've talked about this before, the change in attitude towards China.

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So five years ago, 42% of western citizens held a positive view of China.

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And today that figure is just 23%.

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And what have they done in five years?

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Sold some more dumplings,

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put some soil on, some, some tidal flats in the South China Sea started

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whacking defensive structures on there.

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Amy.

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I'd have done it.

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Yeah.

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So here we go.

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However, the real terrain of Russia's international

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influence lies outside the West.

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75% of respondents in South Asia, 68% in Francophone Africa, 62% in

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Southeast Asia can continue to view the country that is Russia positively in

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spite of everything that's going on.

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What amazing.

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Where you going?

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Ah, I want how many of those received arms and support during

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their liberation struggles?

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From Russia?

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Yeah, From, sorry, from the Soviet Union?

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Yeah.

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What, what, Sorry, say that again Joe.

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So the Francophone countries had liberation struggles in

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the sixties and seventies.

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Yeah.

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And you gotta wonder how many of them, the people who are in power.

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Are beholden, were schooled in Russian universities, were schooled, but

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you know, effectively their freedom struggles were paid for by the Soviets.

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And whether that's the legacy of it, perhaps they just

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hate the Western colonizers.

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So I don't know that Russia helped that much in a lot of these countries.

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My understanding was they funded a lot of them and they educated a lot of the

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freedom fighters in Soviet universities School in, yeah, it could be in Marxism

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and in counter-revolutionary T techniques could be anyway, it just goes to showing

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not everybody thinks the same as the West.

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Yeah.

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So,

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there's a Singaporean diplomat built Aari.

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Cause he can't.

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So, he is a Singaporean retired academic diplomat and civil servant who served

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as Singapore's permanent representative to the United Nations for three years.

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So he's from Singapore and I've got a clip where he has something

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to say and I will play this one.

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So let me just find this one of Singaporean diplomat coming up.

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Let's go with this one about there.

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Singapore's Prime Minister has warned the US against framing the

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competition in the Asia Pacific as a democracies verse autocracies contest.

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Sort of what's your view and, and how does Singapore view this divide going forward?

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Well, my view is that it is a rather silly and simplistic way of framing

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the competition in the, in the Pacific or anywhere else, right.

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There are many types of democracies and not all autocracies are alike.

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You know, you, maybe you can frame it as some mainly western

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type democracies versus some autocracies to it, Russia and China.

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But to put it in broad categories like democracy and autocracy, to

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me, just silly, this is not how countries calculate their interests.

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Give you one, give you a couple of examples, right?

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Vietnam is an autocracy, it's alens type system like China, but Vietnam

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has deep concerns about China and, and has had so four centuries.

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I don't think India joined the court because it was a

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collection of democracies.

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It had specific reasons for joining the court, which have to do with

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specific strategic concerns, not these broad ideological ideas.

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These are much more justifications.

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You know, I, I understand that certain countries, particularly Europe and

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North America, the US and North America, many European countries

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are kind of obsessed with this.

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But I think you have to understand that it really is a way of, it limits your

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support rather than expensive, because not everybody will find every aspect

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of Western democracies attractive.

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In fact, I don't, myself, I would not consider it an attractive model for

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Singapore, and not everybody will find every aspect of autocracies, of every

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autocracy automatically AOR either.

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So it's a silly way of framing your thing, simplistic, overly simplistic.

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It limits your support rather than expands it.

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So why do it except to make yourself feel better.

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Mm-hmm.

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, there we go.

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Just how other people in the world think about these things

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worth considering, I think.

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Yeah.

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I mean, Singapore's a special case, isn't it?

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What is the situation in Singapore?

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I dunno how it operates.

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Nominally a democracy, but one party's been in power for 60 years.

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Mm-hmm.

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. It's very, very autocratic, I think.

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And it's very free market.

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Mm-hmm.

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. So I think to them, the idea of a social democracy is probably an athema.

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And, and especially to those who have succeeded in Singapore who

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are doing well under the system.

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I think that the idea that they should pay for the poorer, might not be as welcome.

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But Singapore, Singapore has done amazingly well.

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I mean, under, under British rural.

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I know someone who grew up in the villages, the rural villages,

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and it was severe poverty.

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And it's now a very, very modern state.

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Yes.

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Yeah, indeed.

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It's very first world in terms of its infrastructure and, and public services.

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Mm.

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This emphasis on autocracies and authoritarian regimes comes about

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because for example, it used to be, well they're goddamn communists.

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Mm-hmm.

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, but they can't say that anymore.

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So they gotta find something else.

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That's the whole point.

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So, so yeah, that's another way of how the world can be viewed and

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show let me just find this thing.

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If it, hopefully it comes up.

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world population.

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Joe is an interesting one.

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So let me just bring up another one on the screen for those.

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Actually it's here.

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Share screen somewhere and I will share that screen there.

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And this, hopefully there's a site called Dos info slash world population

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gives one account of how many people there are in the world, right?

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7 billion, I'm guessing this is an estimation.

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86.

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Yes.

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Well, clearly statistically figuring it out.

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It's ticking over births and it's ticking over deaths.

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And it's coming up with a total and seven billion nine hundred eighty six thousand

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five hundred and sixty thousand nine hundred and twenty twenty five people

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in the world right at this moment, Odom.

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So I think it's gonna be in about a week's time.

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You'll probably see on the news the world's population

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has probably reached 8 billion.

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So, Of which 3 billion are in India and China.

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Yeah.

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Well that is next thing is China, 1.4 and 1.45.

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And India four one.

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Next on the list.

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Do you listen?

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So we've got China as number one and number two, in terms of population.

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Have a think about it.

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What country would you have at Navy for the most populous country on the planet?

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And the answer?

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United States 35,000.

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Indonesia, 280,000 Pakistan.

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2 31, Brazil, Nigeria Bank, Russia.

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The top 10 to John says growth is slowing apparently soon to

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be going into the negative.

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Depends on the country.

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In fact they predicted for 2050 that the population will be 9.7 billion in 2050.

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So I think about 2100 will start the level out.

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Anyway, that's po.

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Well we're talking about countries.

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I mentioned Brazil.

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Oh the other thing, of course, Lula won in Brazil and it seems like

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Bolsonaro is accepting the decision.

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Unlike Trump, lots of his supporters though are not happy.

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So there's been rallies where they're climbing, not a fair election.

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And Joe, you see videos of these rallies.

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There's an awful lot of Nazi salutes Zig Giles going on

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just.

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Hundreds of people.

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Thousands with a Nazi slt, what's going on in the world.

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Yeah.

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Well there was a reason they chose to escape to South America, isn't they?

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Yeah, they did, didn't they?

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The Vatican helped them.

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Mm-hmm.

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. That's where they ended up.

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Not only Vatican.

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I was watching who's the guy who committed the atrocities in Leo

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and finally face caught in France.

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I can't remember the names.

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Died in the nineties.

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Was prosecuted in the late eighties, early nineties.

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Was this the guy with the sort of banal of evil type thing when No, no, he was a g he

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was Gustapo or ss, I can't remember which.

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Right.

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But he had worked for the CIA in Germany after the war hunting down Soviet.

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Communist spies and wasn't much help, but they wouldn't hand him over to the

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French because they were worried that he would spill the beans on the fact that

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the CIA had been employed employing him.

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Right.

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So the Americans basically, although they knew there was a warrant out

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for his arrest, helped him to escape.

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Well, they thought they got him down to, you know what, Italy or somewhere

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Southern Europe anyway, where he brought a boat across to South America.

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Right.

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A lot of them ended up in Paraguay, I think.

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Time.

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Yeah.

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I think it was para Para Your guy.

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Yeah.

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Ah, just back to Ukraine, going all over the, There was an article,

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Caitlin Johnston citing the Rich Times, basically saying that within Ukraine,

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those who are close to the fighting are saying, Let's have a cease fire and

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give up territory cuz we've had enough.

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And as you get further away from the front line, that's when people keep

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saying, Oh, we wanna keep fighting.

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And of course armchair critics in the west sitting comfortably in Australia

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or America or whatever, are saying, Oh, you guys have gotta keep fighting.

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But if you actually ask people on the ground close to the fighting,

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there's an awful lot of people there who have had enough and would prefer

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a ceasefire and give up the ground.

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So, she says because we are primates who evolved in small social groups,

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humans often have trouble feeling empathy for that suffering until it

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enters into our own immediate circle, our own city, our own house, our

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own sons, brothers and fathers going out to fight and never coming home.

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So this war has become like a gain for people, a vehicle from which to

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promote their political ideologies.

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And masturbate their propaganda induced good guys versus bad guys.

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Fantasies, a team sport where they can cheer on the total recapture of all

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annexed territories in Eastern Ukraine.

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From anonymous Sheba avatar accounts online to pass time

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in their meaningless lives.

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She gets quite poetic Johnston, but good point.

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I think the question is whether this is just appeasement, as Britain, France did

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with Hitler in the Munich accord, whether Russia will actually ever abide, you

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know, or they will, they'll cease, they'll regroup and then they'll attack again.

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Mm-hmm.

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You know, is the ceasefire actually in Ukraine's long-term interest

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or is this just an excuse for.

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Putin to regroup and prepare for the next assault.

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Mm-hmm.

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. But do you think if they stopped for a couple of years and allowed

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a buildup of defensive forces that people would've another crack at it?

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It wouldn't surprise me.

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Putin, I think, has made clear that Ukraine is a breakaway province,

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that he considers his Russian mm-hmm.

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And that he doesn't see Ukraine as a valid state.

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I don't know that Putin will ever be satisfied.

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Oh, well, so un unless you have NATO sitting on his board

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doorstep, which is apparently what kicked off the whole thing.

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Mm-hmm.

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, the only thing that keeps Ukraine independent is a, an alliance of

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forces of raid against Russia.

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Mm.

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And you know, at best it's gonna be the former Soviet states who are

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afraid of Russia, who ally together and Western Europe and America

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stays out, possibly supplying arms.

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That's gonna be your best case, but I'm sure that, you know, NATO

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will be pushing to be in there.

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Mm.

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Well, I feel for the people on the front line and I can well understand

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them saying, Enough's enough.

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Okay, let, let him have the don bass and crime and let's just stop for a while.

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Cause I'm sons and sons and daughters and old men, old women off to the un, the

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un reporters, the UN investigators who are in there, who are reporting on war

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crimes and, and really, would you want to be in an area that was seated to Russia?

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If that's been going on?

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If you're in the Don Bass region mm-hmm.

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, No, no, I wouldn't.

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But I can understand the others saying Sorry, did our best.

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But we give in,

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So I, I, I, I understand the sentiment.

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I also just think the point is it's really easy when you're not

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the one having to do the fighting.

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Mm-hmm.

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. Yeah.

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It really is a case where the West is prepared to fight Russia until the last

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Ukrainian, so us has always been the case.

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Hmm.

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Who knows what peace negotiations are going on in the background.

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We will never know.

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Probably in the same way that we never really knew about what happened with the

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Cuban Missile Crisis for about 25 years.

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So, dear listener, With the Cuban Missile Crisis, essentially a deal was

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done in secret that the Soviets would withdraw from Cuba, provided the US

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removed its missile bases in Turkey, and nobody knew about that part of the

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deal, about the missile bases in Turkey.

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And it only came out some 20 or 25 years later.

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So, yeah, and there was active work by Kennedy and his brother

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to hide it from everybody.

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And in fact, the Soviet premier sent a letter to Kennedy a handwritten

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letter saying that look, I understand why you've gotta keep this delicate

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situation secret about Turkey.

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And and Robert Kennedy said, I don't wanna keep this letter.

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If I keep this, who knows?

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He'll get hold of it, take it back.

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And he handed it back to the Soviet ambassador or whatever, and said, Cause

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I guess they had freedom of information or whatever I thought, other rules.

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And he said he said who knows where and when such letters can surface and somehow

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be published, and the appearance of this document could cause irreparable harm

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to my political career in the future.

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That is why we request that you take this letter back.

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So I thought that was interesting.

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Not as much harm as a bullet did.

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Yes.

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Yeah.

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Oh, the buy, did you watch that documentary at all?

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The one Oh, who's the, who's the famous movie director who, Oh yeah.

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Kubrick.

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Yeah, I think so.

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Whether it's a assassination or jfk No, I was thinking of Robert

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Kennedy who was killed, wasn't he?

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Yes, both of them were.

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Yeah.

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Yeah.

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But back to John F.

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Kennedy.

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Do you think it was killed by, It was assassinated.

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Yeah.

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Do you think it was as it was being publicized or what

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do you reckon the odds are?

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There were certainly rumors about the mafia and jfk.

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Mm.

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So if, if it was a conspiracy, it was probably them.

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But I think that a conspiracy has remained that secret for

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that long is highly unlikely.

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Mm.

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I think the conspiracy is that he was wanting to withdraw from Vietnam, or not

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get into Vietnam or something like that.

Speaker:

And it might have been the military who, Right.

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He was, he was trying to, Well, he screwed up bay pigs, didn't he?

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Mm-hmm.

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. So that's the sort of motivation for it that's talked about.

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Mm.

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Yeah, the usual rules apply.

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Mm.

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A secret is as well kept as the inverse square of the number of people who know.

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There you go.

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Yeah.

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And yeah, a plot of that size would have a lot of people involved.

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Yeah.

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Which is why Nord Stream.

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Yes.

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I mean, how many people are required to blow that up?

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I mean, you must have at least oh, 50.

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Yeah.

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I mean, at some stage that's gotta be revealed by some of the players

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in that it had to be a significant number of people involved in that.

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So, but again, this will be a short term secret, and by short term Yeah.

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Five, 10 years, right?

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Yep.

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Yep.

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Yeah.

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After that time, political damage is, Allison, she says

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she has lull on the grassy null.

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What do you reckon, Alison?

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Could you got, could you have got a shot off from the grassy null?

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Mm.

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Alright, just quickly.

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Submarines.

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Great article in the John Energy blog once again talking about submarines and,

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it just repeats everything I've been saying about these godden submarines.

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But repeats that nuclear submarines are noisy cuz they rely on a reactor to

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power a steam engine with cooling pumps.

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Well, I thought the Americans had built convection cooling and therefore the

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American submarines were a a level quieter than the Soviet ones of the same

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generation because they'd use convection.

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what's conviction cooling?

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So, basically hot water rises, cold water sinks.

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Mm-hmm.

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. And so if you design your system well enough, you design it so that

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hot water, basically the, the, as your water heats up, it floats up.

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Mm-hmm.

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, and then you, you have your radiator at the top of the system, and then

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as it cools, it comes back down and reheats into the, the boiler.

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Mm-hmm.

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Effectively, these things require pumps to be pumping the stuff around still.

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No.

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Or just again, is naturally what I know is reading Tom Clancy.

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So take with the grain of salts, but no.

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They had discovered a way of using convection to, to call

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these nuclear reactors down.

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Mm.

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And therefore, they didn't require the noisy pumps.

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Mm.

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Which is why certainly the SS SSNs.

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SSBNs, the ballistic missile launchers.

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Mm-hmm.

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, were effectively black halts.

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They were so quiet because they'd used that technology even though

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they were nuclear operated, even though they were nuclear.

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Haven't heard that.

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Let me read from this article this is particularly extravagant with modern,

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conventionally powered submarines are much cheaper and far harder to detect.

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Nuclear submarines are noisy because they rely on a reactor to power a steam

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engine with cooling pumps, turbines, reduction gears, and steam in the pipes.

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They also expel hot water that can be detected as can the wake on the surface

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on traveling in high speeds, modern battery powered submarines, which

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Australia perversely has no plans to get.

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Maintain near silent operation with what's called air independent propulsion

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aip, supplied by a hydrogen fuel cell in Singapore's German submarines.

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A Sterling engine favored by the Swedes, or in the case of the latest

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Japanese submarines by advanced batteries with long endurance.

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So these submarines have great advantage of making the crew far

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safer than noisy nuclear ones.

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And there was an essay in the US Naval Institute's Magazine proceedings in

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2018 where basically the US Navy needed to consider acquiring some quiet,

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inexpensive diesel electric submarines.

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And the ability of these quiet submarines was demonstrated in 2005 when a Swedish

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submarine sank many US nuclear fast attack subs, destroyers, frieds,

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and cruises in some joint exercises.

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So they performed quite well in those and.

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What do we get to here?

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The cost of the eight nuclear submarines at the moment, 171

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billion and possibly 200 billion for eight nuclear powered submarines.

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Whereas we could get 10 of the latest German submarines, same

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as what Singapore has got for about 10 billion, a billion each.

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Smaller crew more suitable to our shallow waters.

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And there was a an article in the Washington Post that disclosed that

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our decision making regarding nuclear power submarines has been heavily

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influenced by a clique of former US Navy admirals who are generously

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paid by the Australian government.

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So, Two retired US admirals and three former US Navy civilian leaders have

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played crucial roles as paid advisors to the government during its negotiations

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to acquire nuclear submarines.

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So, gosh, we've got on the payroll, two retired US admirals and three

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former US Navy civilian leaders, and funnily enough, their advice is to

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buy nuclear submarines from America.

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What, what a surprise if you're interested in submarines.

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Mm, yes.

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Smarter every day YouTube channel.

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Yes.

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He did a series of border US missile sub.

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Right?

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So lots of information on how they live underwater for months at a time.

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How do they generate oxygen?

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How do they generate clean drinking water?

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So an interesting one on how sonar works.

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Mm-hmm.

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, which he keeps on hitting up against the, that's classified.

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I can't talk about that.

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Right.

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But quite an interesting series.

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What's good, Kim?

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Smarter every day.

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Smarter Every Day.

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Okay.

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Yeah.

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On the YouTubes.

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All right.

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I think we've reached 9 27 and apparently according to

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Allison, she can see the moon.

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So it's time for us all to go outside and have a look.

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It is, it's time to end this podcast and thanks for joining in in the chat room.

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We'll talk to you next week.

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Thanks to Scott for being with us for most of the time, but I think

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we're really gonna have to get Scott's Internet organized in future.

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We'll see what happens.

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Oh, up some thoughts and prayers people.

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Yes.

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All right.

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Okay, everybody, thanks for joining in.

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Talk next week.

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Bye for.

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And it's a good night from him.

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