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Kick Livestreams/pre dinner post lunch SHOW 2025-10-15 01_48 [a8be72ee-pre-dinner-post-lunch-show] 480p

2025-10-15 · 1 hr 43 min

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  1. rev_9f9de6cc913afa3065ce86763c740705Machine-generated and unreviewed; may be wrong; not a verified quotation.
    undraw_asractive379 segments

Transcript

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  1. Fucking insane.

    Segment details0:00–0:00 · rev_9f9de6cc913afa3065ce86763c740705_0
  2. Down £14.

    Segment details0:03–0:04 · rev_9f9de6cc913afa3065ce86763c740705_1
  3. Thankfully I've got more longs open than shorts, so if it does keep ripping, I make money instead of losing it.

    Segment details0:07–0:15 · rev_9f9de6cc913afa3065ce86763c740705_2
  4. Oh, very disappointing. Apple crumble failed.

    Segment details0:44–0:48 · rev_9f9de6cc913afa3065ce86763c740705_3
  5. Wasted— I wasted £6 on that stupid dish. The actual bowl.

    Segment details0:50–0:54 · rev_9f9de6cc913afa3065ce86763c740705_4
  6. I don't know if I take it out the bin because I don't know if I'm even ever going to use it. When— what would I ever use it for?

    Segment details0:59–1:05 · rev_9f9de6cc913afa3065ce86763c740705_5
  7. Uh, maybe I take it out the bin.

    Segment details1:07–1:09 · rev_9f9de6cc913afa3065ce86763c740705_6
  8. What would I ever use it for? I'm not making a fucking pie. No thanks, I do not need that stress.

    Segment details1:24–1:32 · rev_9f9de6cc913afa3065ce86763c740705_7
  9. I hate working with flour. I hate flour so much.

    Segment details1:35–1:38 · rev_9f9de6cc913afa3065ce86763c740705_8
  10. Roast potatoes.

    Segment details1:42–1:42 · rev_9f9de6cc913afa3065ce86763c740705_9
  11. I don't want to make anything. I can't be bothered anymore. What's the point?

    Segment details1:46–1:49 · rev_9f9de6cc913afa3065ce86763c740705_10
  12. Feeling very frustrated now.

    Segment details2:00–2:03 · rev_9f9de6cc913afa3065ce86763c740705_11
  13. Wasted all that time making that stupid apple crumble.

    Segment details2:30–2:33 · rev_9f9de6cc913afa3065ce86763c740705_12
  14. All for nothing.

    Segment details2:38–2:39 · rev_9f9de6cc913afa3065ce86763c740705_13
  15. Damn, Maki's ripping.

    Segment details3:16–3:17 · rev_9f9de6cc913afa3065ce86763c740705_14
  16. Might as well go along, all in long.

    Segment details3:31–3:33 · rev_9f9de6cc913afa3065ce86763c740705_15
  17. If that's what you're gonna do now,

    Segment details3:36–3:38 · rev_9f9de6cc913afa3065ce86763c740705_16
  18. what are you gonna do? If you tank, I make money. If you go along, I make money. Trying to fuck me over now, you fucking bitch market.

    Segment details3:41–3:49 · rev_9f9de6cc913afa3065ce86763c740705_17
  19. I've got longs and shorts all over the place. No matter what move you make, I'm gonna make money and you can't stop me. Fine, I'll take this stupid dish out the fucking bin.

    Segment details3:51–4:01 · rev_9f9de6cc913afa3065ce86763c740705_18
  20. Oh God, it's covered in flour now.

    Segment details4:07–4:09 · rev_9f9de6cc913afa3065ce86763c740705_19
  21. 啊,呃,做起的。

    Segment details4:22–4:40 · rev_9f9de6cc913afa3065ce86763c740705_20
  22. Why isn't

    Segment details5:34–5:35 · rev_9f9de6cc913afa3065ce86763c740705_21
  23. it

    Segment details5:40–5:41 · rev_9f9de6cc913afa3065ce86763c740705_22
  24. coming off? Oh my fucking God.

    Segment details5:50–5:55 · rev_9f9de6cc913afa3065ce86763c740705_23
  25. Fucking

    Segment details6:29–6:35 · rev_9f9de6cc913afa3065ce86763c740705_24
  26. stupid fucking dish.

    Segment details6:39–6:40 · rev_9f9de6cc913afa3065ce86763c740705_25
  27. Why is it so hard to clean?

    Segment details7:04–7:10 · rev_9f9de6cc913afa3065ce86763c740705_26
  28. All it had was some apple in it.

    Segment details7:12–7:14 · rev_9f9de6cc913afa3065ce86763c740705_27
  29. Ah, I got kind of cold in my head.

    Segment details7:27–7:32 · rev_9f9de6cc913afa3065ce86763c740705_28
  30. Why is it so hard to get the fucking apple off of it? It's like it's glued on or something.

    Segment details7:38–7:44 · rev_9f9de6cc913afa3065ce86763c740705_29
  31. What the fuck is this? Why doesn't it come off?

    Segment details7:46–7:51 · rev_9f9de6cc913afa3065ce86763c740705_30
  32. Ah, fuck you, fucking dish.

    Segment details7:55–7:58 · rev_9f9de6cc913afa3065ce86763c740705_31
  33. Ah,

    Segment details8:08–8:08 · rev_9f9de6cc913afa3065ce86763c740705_32
  34. ah, fucking apple crumble. Never fucking mention apple crumble to me ever again.

    Segment details8:10–8:17 · rev_9f9de6cc913afa3065ce86763c740705_33
  35. I hate apple

    Segment details8:20–8:21 · rev_9f9de6cc913afa3065ce86763c740705_34
  36. crumble. Now I'm fucking sick.

    Segment details8:23–8:26 · rev_9f9de6cc913afa3065ce86763c740705_35
  37. Fucking hell, why does everything go wrong?

    Segment details8:32–8:35 · rev_9f9de6cc913afa3065ce86763c740705_36
  38. This

    Segment details8:46–8:46 · rev_9f9de6cc913afa3065ce86763c740705_37
  39. fucking app lagging. Okay, it's back.

    Segment details8:53–8:57 · rev_9f9de6cc913afa3065ce86763c740705_38
  40. I should never have bothered making this stupid apple crumble.

    Segment details9:11–9:17 · rev_9f9de6cc913afa3065ce86763c740705_39
  41. I'm probably gonna be coughing for weeks now.

    Segment details9:28–9:29 · rev_9f9de6cc913afa3065ce86763c740705_40
  42. That's how it starts.

    Segment details9:37–9:38 · rev_9f9de6cc913afa3065ce86763c740705_41
  43. It starts a little tickle in the throat in the morning.

    Segment details9:42–9:44 · rev_9f9de6cc913afa3065ce86763c740705_42
  44. Where everyone tuning in from, guys?

    Segment details10:26–10:29 · rev_9f9de6cc913afa3065ce86763c740705_43
  45. I go short, it rips. I go long, now it tanks. Are you fucking kidding me?

    Segment details10:40–10:46 · rev_9f9de6cc913afa3065ce86763c740705_44
  46. It goes long exactly where I short, and then it fucking tanks exactly where I go long.

    Segment details10:55–11:01 · rev_9f9de6cc913afa3065ce86763c740705_45
  47. Fucking shitting fucking market.

    Segment details11:03–11:05 · rev_9f9de6cc913afa3065ce86763c740705_46
  48. I just put in a long and now it's starting to go down,

    Segment details11:26–11:30 · rev_9f9de6cc913afa3065ce86763c740705_47
  49. and then when I exit it, it'll start going up.

    Segment details11:34–11:37 · rev_9f9de6cc913afa3065ce86763c740705_48
  50. Oh my God, fucking hell.

    Segment details11:39–11:43 · rev_9f9de6cc913afa3065ce86763c740705_49
  51. Sometimes I just want to grab the people who control the market. I don't know, like, where is the market? And strangle the fuck out of it. Bunch of stupid data centers. Russia just nuked it all.

    Segment details11:45–11:59 · rev_9f9de6cc913afa3065ce86763c740705_50
  52. I need to just like nuke the market out of existence.

    Segment details12:01–12:03 · rev_9f9de6cc913afa3065ce86763c740705_51
  53. Fucking stock market.

    Segment details12:06–12:08 · rev_9f9de6cc913afa3065ce86763c740705_52
  54. What would it take to just make it all go poof and disappear? Blow up all the data centers and the backups?

    Segment details12:19–12:25 · rev_9f9de6cc913afa3065ce86763c740705_53
  55. Making pies and pastries and cakes is so annoying.

    Segment details12:51–12:55 · rev_9f9de6cc913afa3065ce86763c740705_54
  56. Why is everything that's difficult to do hard and difficult and annoying?

    Segment details13:06–13:12 · rev_9f9de6cc913afa3065ce86763c740705_55
  57. Why can't anything just be easy?

    Segment details13:18–13:19 · rev_9f9de6cc913afa3065ce86763c740705_56
  58. Why is everything so damn hard in life?

    Segment details13:30–13:36 · rev_9f9de6cc913afa3065ce86763c740705_57
  59. Why would I be livery a vape? I've got like 5 vapes. I'm not vaping because I'm sick, so I don't want to make my throat worse.

    Segment details13:57–14:06 · rev_9f9de6cc913afa3065ce86763c740705_58
  60. Does it even do anything?

    Segment details14:10–14:11 · rev_9f9de6cc913afa3065ce86763c740705_59
  61. I don't know why my fingernails keep growing back so quickly. I swear I cut my fingernails a week ago.

    Segment details14:39–14:45 · rev_9f9de6cc913afa3065ce86763c740705_60
  62. I'm just frustrated today. Number one, my Apple crumble didn't work, and number two, since US market open, I haven't been able to correctly predict the direction.

    Segment details14:50–15:01 · rev_9f9de6cc913afa3065ce86763c740705_61
  63. I went short at the open and I got fucked. And now I think I've gone long at the end of this move.

    Segment details15:03–15:09 · rev_9f9de6cc913afa3065ce86763c740705_62
  64. Jay Powell speaking in 17 minutes. Maybe he'll do something.

    Segment details15:31–15:36 · rev_9f9de6cc913afa3065ce86763c740705_63
  65. And I have to keep ending the stream and starting it because I'm scared I'm gonna accidentally violate and then they're gonna take away all the money.

    Segment details16:00–16:07 · rev_9f9de6cc913afa3065ce86763c740705_64
  66. Losing the money from a 3-hour stream is better than losing the money from a 12-hour stream, isn't it?

    Segment details16:12–16:17 · rev_9f9de6cc913afa3065ce86763c740705_65
  67. What is a spoken word performance? Don't even know what that means.

    Segment details16:51–16:58 · rev_9f9de6cc913afa3065ce86763c740705_66
  68. Oh God, now I'm down £5 on my long and I'm down £14 on the short. How the fuck Fuck, gonna be down on both.

    Segment details17:09–17:17 · rev_9f9de6cc913afa3065ce86763c740705_67
  69. Can it just go up or go down?

    Segment details17:18–17:20 · rev_9f9de6cc913afa3065ce86763c740705_68
  70. I'll go short, it goes up. I'll go long, it goes down. And then it floats in the middle of where I'm long and short.

    Segment details17:22–17:29 · rev_9f9de6cc913afa3065ce86763c740705_69
  71. So I'm creating the support and resistance lines with my long and short entry. And it'll just bump up and down in between where I've gone long and where I've gone short.

    Segment details17:37–17:46 · rev_9f9de6cc913afa3065ce86763c740705_70
  72. At least tank or rip. Don't just sit in the fucking middle, you stupid fuck.

    Segment details17:56–18:00 · rev_9f9de6cc913afa3065ce86763c740705_71
  73. Do something. Jesus Christ.

    Segment details18:05–18:07 · rev_9f9de6cc913afa3065ce86763c740705_72
  74. Where everyone tuning? And now I'm down 7 fucking pounds on my long. Oh my God.

    Segment details18:36–18:43 · rev_9f9de6cc913afa3065ce86763c740705_73
  75. Oh, now it's tanking. Now I'm fucking down £10 on my long.

    Segment details19:10–19:14 · rev_9f9de6cc913afa3065ce86763c740705_74
  76. If it tanks hard, I'm in trouble because I've got too many longs now.

    Segment details19:39–19:43 · rev_9f9de6cc913afa3065ce86763c740705_75
  77. I got 0.30 short and

    Segment details19:53–19:57 · rev_9f9de6cc913afa3065ce86763c740705_76
  78. 0.75 long.

    Segment details20:01–20:05 · rev_9f9de6cc913afa3065ce86763c740705_77
  79. It would not be good for me if it tanked.

    Segment details20:20–20:23 · rev_9f9de6cc913afa3065ce86763c740705_78
  80. So we got, um, 5 to 2 and a half hours until dinner break, and then I will break for dinner.

    Segment details20:47–20:56 · rev_9f9de6cc913afa3065ce86763c740705_79
  81. Be back at 8 o'clock, and then 8 to 11.

    Segment details20:59–21:04 · rev_9f9de6cc913afa3065ce86763c740705_80
  82. And then bedtime.

    Segment details21:09–21:10 · rev_9f9de6cc913afa3065ce86763c740705_81
  83. I really hate US market open. I always get fucked.

    Segment details21:37–21:41 · rev_9f9de6cc913afa3065ce86763c740705_82
  84. I think I should just not trade US market open.

    Segment details21:43–21:45 · rev_9f9de6cc913afa3065ce86763c740705_83
  85. I don't know why US market opens so hard.

    Segment details21:48–21:50 · rev_9f9de6cc913afa3065ce86763c740705_84
  86. Jay Powell in 10 minutes.

    Segment details22:23–22:25 · rev_9f9de6cc913afa3065ce86763c740705_85
  87. Well, I guess with the remaining apples, let's just eat them like normal apples.

    Segment details22:45–22:52 · rev_9f9de6cc913afa3065ce86763c740705_86
  88. What a waste of apples.

    Segment details22:55–22:56 · rev_9f9de6cc913afa3065ce86763c740705_87
  89. Chopped up, roasted in the oven, microwaved in the microwave, chucked in the bin.

    Segment details22:59–23:06 · rev_9f9de6cc913afa3065ce86763c740705_88
  90. They didn't deserve that.

    Segment details23:11–23:12 · rev_9f9de6cc913afa3065ce86763c740705_89
  91. Where everyone tuning in from, guys?

    Segment details23:25–23:29 · rev_9f9de6cc913afa3065ce86763c740705_90
  92. That's so great.

    Segment details23:33–23:34 · rev_9f9de6cc913afa3065ce86763c740705_91
  93. Did you know monotremes are an ancient branch of mammals?

    Segment details23:43–23:48 · rev_9f9de6cc913afa3065ce86763c740705_92
  94. From 112 million years ago.

    Segment details23:51–23:55 · rev_9f9de6cc913afa3065ce86763c740705_93
  95. They are from an ancient branch of mammals called the monotremes.

    Segment details24:01–24:08 · rev_9f9de6cc913afa3065ce86763c740705_94
  96. From the class Monodramata.

    Segment details24:20–24:23 · rev_9f9de6cc913afa3065ce86763c740705_95
  97. Oh, hello, Wash! Thank you for tuning in to my live stream today. So nice and great.

    Segment details24:29–24:40 · rev_9f9de6cc913afa3065ce86763c740705_96
  98. My long is only down £6 now. Jay Powell speaking in 7 minutes.

    Segment details25:20–25:26 · rev_9f9de6cc913afa3065ce86763c740705_97
  99. Trying to find the best deals on taxis, you need Minicab, the UK's— She's

    Segment details25:32–25:37 · rev_9f9de6cc913afa3065ce86763c740705_98
  100. going to continue with her intro until Powell actually comes on. I'll turn— I'll flip the audio when Powell gets up there.

    Segment details25:41–25:47 · rev_9f9de6cc913afa3065ce86763c740705_99
  101. Hello, TB. I am saying many things.

    Segment details25:52–25:56 · rev_9f9de6cc913afa3065ce86763c740705_100
  102. Extremely well. Thanks so much. I forgot how to do this move. I do that and then that and that and that. Oh yeah,

    Segment details25:59–26:10 · rev_9f9de6cc913afa3065ce86763c740705_101
  103. and then this one.

    Segment details26:13–26:14 · rev_9f9de6cc913afa3065ce86763c740705_102
  104. Uh,

    Segment details26:18–26:18 · rev_9f9de6cc913afa3065ce86763c740705_103
  105. what just happened? Okay, is

    Segment details26:21–26:24 · rev_9f9de6cc913afa3065ce86763c740705_104
  106. it this way? That way,

    Segment details26:26–26:29 · rev_9f9de6cc913afa3065ce86763c740705_105
  107. that way, and that way. I forgot how to do that move.

    Segment details26:32–26:35 · rev_9f9de6cc913afa3065ce86763c740705_106
  108. Ah,

    Segment details26:38–26:38 · rev_9f9de6cc913afa3065ce86763c740705_107
  109. I think you twist it and then do that and then do this and go back. Oh yeah.

    Segment details26:42–26:48 · rev_9f9de6cc913afa3065ce86763c740705_108
  110. Uh,

    Segment details26:54–26:54 · rev_9f9de6cc913afa3065ce86763c740705_109
  111. where

    Segment details26:58–27:00 · rev_9f9de6cc913afa3065ce86763c740705_110
  112. everyone tuning in from, guys?

    Segment details27:03–27:08 · rev_9f9de6cc913afa3065ce86763c740705_111
  113. I hate doing the white cross in the beginning. It's the hardest bit. Okay, done it.

    Segment details27:14–27:18 · rev_9f9de6cc913afa3065ce86763c740705_112
  114. And red, blue,

    Segment details27:30–27:31 · rev_9f9de6cc913afa3065ce86763c740705_113
  115. and then green, red.

    Segment details27:36–27:37 · rev_9f9de6cc913afa3065ce86763c740705_114
  116. And then, and then I do

    Segment details27:43–27:48 · rev_9f9de6cc913afa3065ce86763c740705_115
  117. green red. Where's green red? Here. And then I do this,

    Segment details27:52–27:58 · rev_9f9de6cc913afa3065ce86763c740705_116
  118. and then I do this corner with green orange.

    Segment details28:00–28:08 · rev_9f9de6cc913afa3065ce86763c740705_117
  119. And then I do first layer finished.

    Segment details28:11–28:17 · rev_9f9de6cc913afa3065ce86763c740705_118
  120. Oh God, my cough's getting worse.

    Segment details28:22–28:23 · rev_9f9de6cc913afa3065ce86763c740705_119
  121. Do you think Market's going to rip whilst he speaks?

    Segment details28:28–28:30 · rev_9f9de6cc913afa3065ce86763c740705_120
  122. I think I'm getting sicker.

    Segment details28:52–28:53 · rev_9f9de6cc913afa3065ce86763c740705_121
  123. 4 minutes.

    Segment details28:57–28:58 · rev_9f9de6cc913afa3065ce86763c740705_122
  124. I don't think it's the flu. I just got a sore throat, but I'm feeling a little bit— I don't know.

    Segment details29:14–29:22 · rev_9f9de6cc913afa3065ce86763c740705_123
  125. Maybe low energy.

    Segment details29:27–29:28 · rev_9f9de6cc913afa3065ce86763c740705_124
  126. Now I'm starting to get a dry cough.

    Segment details29:34–29:35 · rev_9f9de6cc913afa3065ce86763c740705_125
  127. I really doubt it's COVID.

    Segment details29:47–29:48 · rev_9f9de6cc913afa3065ce86763c740705_126
  128. Wow, 240 viewers! Where everyone tuning in from, guys?

    Segment details30:23–30:28 · rev_9f9de6cc913afa3065ce86763c740705_127
  129. Better than YouTube, isn't it?

    Segment details30:33–30:34 · rev_9f9de6cc913afa3065ce86763c740705_128
  130. I just hope I don't get fever. Please no, not fever.

    Segment details30:53–30:59 · rev_9f9de6cc913afa3065ce86763c740705_129
  131. I have plans for the weekend.

    Segment details31:07–31:10 · rev_9f9de6cc913afa3065ce86763c740705_130
  132. Wow, my long is up 50 pence now.

    Segment details31:17–31:20 · rev_9f9de6cc913afa3065ce86763c740705_131
  133. Right, speaking. Enjoyed my regular visits to your annual meeting and your conferences. Um, it's really been my favorite venue all these years. That's a little bit late. It's a place

    Segment details31:23–31:33 · rev_9f9de6cc913afa3065ce86763c740705_132
  134. I'm up two pounds. I'm up three pounds. What happened to this speech? Not sure what they're pausing for here. This is a place where we can talk about economic issues and not worry that someone's eyes might glaze over.

    Segment details31:36–31:47 · rev_9f9de6cc913afa3065ce86763c740705_133
  135. I also appreciate the warm welcome. I've always why is this sound quality so weird? And putting Fed staff aside for a minute, I can't think of a more Group of econ nerds anywhere.

    Segment details31:50–32:01 · rev_9f9de6cc913afa3065ce86763c740705_134
  136. People are saying, is this AI? It kind of looks like it. So thank you again for for this prestigious award. My lungs up five pounds today. Come on, Powell, pump it. As we all know, monetary policy is more effective, more effective when the public understands what the Federal Reserve does and why. With that in mind, I hope

    Segment details32:04–32:26 · rev_9f9de6cc913afa3065ce86763c740705_135
  137. to enhance understanding of one of the more arcane and technical aspects of monetary policy: the Federal Reserve's balance sheet. I'm up six pounds. We compared this topic to a trip to the dentist. The dentist. I found that comparison somewhat unfair to dentists. Dentist. So today I'll discuss the essential role that our balance sheet played during the pandemic,

    Segment details32:26–32:49 · rev_9f9de6cc913afa3065ce86763c740705_136
  138. along with some of the. Whoa, I'm up £8. Ample reserves implementation framework and the progress we've made toward normalizing this. I'm up £10. And I'll conclude with some brief remarks on the economic outlook. So one of the primary purposes of a central bank is to provide the monetary foundation for the financial system and the broader economy. This

    Segment details32:49–33:11 · rev_9f9de6cc913afa3065ce86763c740705_137
  139. foundation is made of central liabilities. On the Fed's balance sheet, the liability side of the ledger totaled £6.5 trillion. I'm up £12 as of October 8th. And 3 categories account for roughly 95% of the total. First, Federal Reserve notes, that is physical currency, totaled $2.4 trillion. Second, reserves, funds held by depository institutions at Federal Reserve banks, totaled

    Segment details33:11–33:36 · rev_9f9de6cc913afa3065ce86763c740705_138
  140. $3 trillion. So take profit, $12,000. Allow commercial banks to make and receive payments and meet regulatory requirements. Reserves are the safest and most liquid, liquid asset in the financial system, and only the Fed can create them. Might take profit. The adequate provision of reserves is essential to the safety and soundness of our banking system, the resilience and

    Segment details33:36–33:57 · rev_9f9de6cc913afa3065ce86763c740705_139
  141. efficiency of our payment system, and ultimately the stability. Why does the market rip when he speaks? He's not even saying anything. Treasury General Account, or TGA, currently at about $800 billion, which is essentially the checking account for the federal government. When the Treasury makes or receives payments Those flows affect dollar for dollar the supply of reserves or

    Segment details33:57–34:16 · rev_9f9de6cc913afa3065ce86763c740705_140
  142. other liabilities in the system. Might take my profit. The asset side of our ledger consists almost entirely of securities, including— Okay, I took my profit. £12. I'm out. And £2.1 trillion of government-guaranteed agency mortgage-backed securities, or MBS. When we add reserves to the system, we generally do so by purchasing treasuries. I took £12 profit. Reserve accounts of

    Segment details34:16–34:39 · rev_9f9de6cc913afa3065ce86763c740705_141
  143. the banks involved in the transaction with the seller. This process effectively transforms securities held by the public into reserves, but does not change the total amount of government liabilities held by the public. So the Fed's balance sheet serves as a critical policy tool. He's just explaining how the balance sheet works. Why is he going on? When COVID-19

    Segment details34:39–35:02 · rev_9f9de6cc913afa3065ce86763c740705_142
  144. struck in March 2020, the economy came to a near standstill. And financial markets seized up, threatening to transform a public health crisis into a severe prolonged economic downturn. In response, we established a number of emergency liquidity. Well, Bitmine ripped those programs supported at the time by Congress and the administration, providing critical support to markets and were remarkably

    Segment details35:02–35:26 · rev_9f9de6cc913afa3065ce86763c740705_143
  145. effective in restoring confidence and stability. I've got this stupid little hair on my cheek. I can't get it out. From these facilities totaled just over $200 billion. I have one hair. Loans with conditions stabilized. That's normally the deepest and most liquid market in the world. Oh, got it. Rock of the global financial system was under extraordinary pressure

    Segment details35:26–35:47 · rev_9f9de6cc913afa3065ce86763c740705_144
  146. and on the verge of collapse. We used large-scale purchases of securities to restore functionality to the Treasury market. Faced with unprecedented market dysfunction, the Fed purchased Treasury and agency securities at an extraordinary pace in March and April of 2020. Oh, hello, Immolated Rat. I'm making users new ways to wait 2 weeks to be able to chat to

    Segment details35:47–36:16 · rev_9f9de6cc913afa3065ce86763c740705_145
  147. filter out trolls. Where are you tuning in from today, my friend?

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  148. Chat interaction on point.

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  149. Hello TB, how you doing today?

    Segment details36:34–36:38 · rev_9f9de6cc913afa3065ce86763c740705_148
  150. Where everyone tuning in from?

    Segment details36:40–36:42 · rev_9f9de6cc913afa3065ce86763c740705_149
  151. Fucking kick. Stupid fucking website, isn't it?

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  152. Stream almost interacts with the fucking chat. Suck my ball,

    Segment details36:54–36:59 · rev_9f9de6cc913afa3065ce86763c740705_151
  153. nobodies. Suck my egg.

    Segment details37:01–37:07 · rev_9f9de6cc913afa3065ce86763c740705_152
  154. So the apple crumble crumbled into the bin. That was pretty good.

    Segment details37:15–37:21 · rev_9f9de6cc913afa3065ce86763c740705_153
  155. Crumbled into the bin.

    Segment details37:24–37:25 · rev_9f9de6cc913afa3065ce86763c740705_154
  156. That was good.

    Segment details37:32–37:36 · rev_9f9de6cc913afa3065ce86763c740705_155
  157. The apple crumble was too crumbly. It's all in the bin. The fruit was all dry and diluted, and the crumble was just raw flour on top. It was just like flour with butter. It didn't turn into like— I know, like, I mean, crumble was supposed to be like thick and stodgy, not all floury.

    Segment details37:44–38:08 · rev_9f9de6cc913afa3065ce86763c740705_156
  158. Maybe I didn't put enough butter. 2018, as well as the 2013 paper tantrum. Regarding the composition of our purchases, some have questioned the inclusion of agency MBS purchases given the strong housing market during the pandemic recovery. Outside of purchases aimed specifically at market functioning, MBS purchases are primarily intended— like, I put nearly half the stick of butter.

    Segment details38:11–38:36 · rev_9f9de6cc913afa3065ce86763c740705_157
  159. How is it not enough butter? I don't get it. C rate is constrained by the effect of lower bounds. The extent to which these MBS purchases disproportionately affected housing market conditions during that period is to be determined. The fuck was that? Many factors affect the mortgage market, and many factors beyond the mortgage market affect supply and demand.

    Segment details38:36–38:56 · rev_9f9de6cc913afa3065ce86763c740705_158
  160. I think it was just the bin. With the clarity of hindsight, we could have, and perhaps should have, stopped asset purchases sooner. Our real-time decisions were intended to serve as insurance against downside risks. We knew that we could unwind purchases relatively quickly once we ended them, which is exactly what we did. Research and experience tell us that

    Segment details38:56–39:19 · rev_9f9de6cc913afa3065ce86763c740705_159
  161. asset purchases affect the economy through expectations regarding the future size and duration of our balance sheet, so that when we announced our taper, market participants

    Segment details39:19–39:30 · rev_9f9de6cc913afa3065ce86763c740705_160
  162. What's the market?

    Segment details39:55–39:56 · rev_9f9de6cc913afa3065ce86763c740705_161
  163. Uh, Powell's not even saying anything interesting.

    Segment details40:11–40:12 · rev_9f9de6cc913afa3065ce86763c740705_162
  164. He's just giving like a history lesson. Since began the reserve regime, this is Gemini. British pounds in minutes. Trade crypto and earn token rewards all in one app. Build your portfolio the easy way with recurring bots. Earn when you stake with Ethereum and Solana and get on-chain access to the— our policy rate is achieved through this, through

    Segment details40:49–41:13 · rev_9f9de6cc913afa3065ce86763c740705_163
  165. the setting of our administrative interest on reserve balances, and the overnight repurchase rate— reverse repo rate, rather. This approach allows us to maintain rate control independently of the size of our balance sheet, and that's important given large unpredictable swings in liquidity demand from the private sector and significant fluctuations in— what, what even is he going on about?

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  166. Is the market still ripping or not?

    Segment details41:45–41:47 · rev_9f9de6cc913afa3065ce86763c740705_165
  167. Kind of.

    Segment details41:55–41:55 · rev_9f9de6cc913afa3065ce86763c740705_166
  168. Now if it could tank, that'd be great. I can get out my

    Segment details42:02–42:09 · rev_9f9de6cc913afa3065ce86763c740705_167
  169. short— the cat on my roof again. Hmm.

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  170. So where's everyone tuning in from? I

    Segment details42:41–42:45 · rev_9f9de6cc913afa3065ce86763c740705_169
  171. Ah, why doesn't this thing work?

    Segment details43:18–43:19 · rev_9f9de6cc913afa3065ce86763c740705_170
  172. Stupid camera. Okay.

    Segment details43:21–43:41 · rev_9f9de6cc913afa3065ce86763c740705_171
  173. Um, what's Jay Powell saying? Autonomous factors affecting reserve supply, whether the interest we pay on reserves is costly to taxpayers. In fact, that is not the case. The Fed earns interest income from Treasury securities that back reserves. Most of the time, our interest earnings from Treasury holdings more than cover the interest paid on reserves. Generating significant remittances

    Segment details43:56–44:17 · rev_9f9de6cc913afa3065ce86763c740705_172
  174. to the Treasury. By law, we remit all profits to the Treasury after covering expenses. And since 2008, even after accounting for the recent period of negative net income, our total remittances to Treasury have totaled— I think the market doesn't know what he's going on about.

    Segment details44:17–44:32 · rev_9f9de6cc913afa3065ce86763c740705_173
  175. He's just given a history lesson.

    Segment details44:35–44:36 · rev_9f9de6cc913afa3065ce86763c740705_174
  176. Huh, okay. Well, at least I made, uh, £12 from my laundry.

    Segment details44:56–45:01 · rev_9f9de6cc913afa3065ce86763c740705_175
  177. Uh, let's do

    Segment details45:35–45:36 · rev_9f9de6cc913afa3065ce86763c740705_176
  178. now.

    Segment details45:45–45:48 · rev_9f9de6cc913afa3065ce86763c740705_177
  179. Echidnas are a small clade with 2 extant genera and 4 species. The genus Zaglosus includes 3 extant and 2 fossil species, with only 1 extant species from the genus Tachyglosus.

    Segment details45:55–46:13 · rev_9f9de6cc913afa3065ce86763c740705_178
  180. I'm bored of

    Segment details46:25–46:28 · rev_9f9de6cc913afa3065ce86763c740705_179
  181. the kittens. OV, OV parity. Oviparous animals are animals that reproduce by depositing fertilized zygotes outside the body.

    Segment details46:41–46:59 · rev_9f9de6cc913afa3065ce86763c740705_180
  182. The hell's a zygote? A zygote is a eukaryotic cell formed by fertilization event between 2 gametes.

    Segment details47:02–47:12 · rev_9f9de6cc913afa3065ce86763c740705_181
  183. A fertilized zygote. It's basically a baby

    Segment details47:15–47:19 · rev_9f9de6cc913afa3065ce86763c740705_182
  184. by laying or spawning in metabolically independent incubation organs, also known as an egg.

    Segment details47:22–47:31 · rev_9f9de6cc913afa3065ce86763c740705_183
  185. Metabolically independent incubation organ, an egg, which nurture the embryo into moving offspring hatchlings. With little or no embryonic development within the mother. This is the reproductive method used by most animal species, as opposed to viviparous animals that develop the embryos internally and metabolically dependent on the maternal circulation until the mother gives birth to live juveniles.

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  186. Ovoviviparity

    Segment details48:07–48:07 · rev_9f9de6cc913afa3065ce86763c740705_185
  187. Ovoviviparity, or aplacental viviparity, is a bridging form of reproduction between egg-laying and oviparous and live-bearing viviparous reproduction. Ovoviparous animals possess embryos that develop inside eggs that remain in the mother's body until they're ready to to hatch.

    Segment details48:13–48:36 · rev_9f9de6cc913afa3065ce86763c740705_186
  188. Wow. So they call an egg a metabolically independent incubation organ, and they call a baby a fertilized zygote. That's funny.

    Segment details48:42–48:51 · rev_9f9de6cc913afa3065ce86763c740705_187
  189. The traditional modes of reproduction include overparity taken to the ancestral condition Taken to be the ancestral condition traditionally where either unfertilized oocytes— an oocyte is a thermal female germ cell involved in sexual reproduction. An oocyte is an immature ovum, an immature egg cell produced in a female fetus in the ovary during

    Segment details48:55–49:23 · rev_9f9de6cc913afa3065ce86763c740705_188
  190. gametogenesis, during

    Segment details49:24–49:27 · rev_9f9de6cc913afa3065ce86763c740705_189
  191. Oogenesis. The Oogonia become primary oocytes. I don't know what any of this means.

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  192. Market is still ripping.

    Segment details49:48–49:50 · rev_9f9de6cc913afa3065ce86763c740705_191
  193. How even the fuck?

    Segment details49:52–49:53 · rev_9f9de6cc913afa3065ce86763c740705_192
  194. I'm down 18 pounds in that short.

    Segment details50:03–50:06 · rev_9f9de6cc913afa3065ce86763c740705_193
  195. Uh, the biologists— oh wait. Traditional monarachthyma.

    Segment details50:15–50:21 · rev_9f9de6cc913afa3065ce86763c740705_194
  196. Unfertilized oocytes or fertilized eggs are spawned, and viviparity traditionally including any mechanism where young are born live or where the development of the young is supported by either parent in or on any part of the body.

    Segment details50:25–50:40 · rev_9f9de6cc913afa3065ce86763c740705_195
  197. Zygoparity, in which fertilization is internal is taken to the derived condition whether the male injects the sperm into the female intromittently.

    Segment details50:43–50:52 · rev_9f9de6cc913afa3065ce86763c740705_196
  198. Intromittent organ is any external organ of a male organism that is specialized to deliver sperm during copulation. Intromittent organs are found most often in terrestrial species, as most non-mammalian aquatic species fertilize their eggs externally.

    Segment details50:55–51:12 · rev_9f9de6cc913afa3065ce86763c740705_197
  199. Damn, can you imagine if humans also

    Segment details51:16–51:20 · rev_9f9de6cc913afa3065ce86763c740705_198
  200. fertilize eggs externally?

    Segment details51:24–51:25 · rev_9f9de6cc913afa3065ce86763c740705_199
  201. There would be no more rape because you wouldn't have to put your willy in the hole. You just like put your sperm there and I don't know enters the external egg or something.

    Segment details51:28–51:40 · rev_9f9de6cc913afa3065ce86763c740705_200
  202. The egg is not retained in the body for most of the period of development of the embryo within the egg, which is then main distinction between oviparity and ovoviviparity. Oviparity occurs in all birds, most reptiles, some fish, most arthropods. Among mammals, monotremes are uniquely oviparous. Embryoparity, in which the embryo develops for a significant amount of time before

    Segment details51:57–52:24 · rev_9f9de6cc913afa3065ce86763c740705_201
  203. the egg is laid. The definitive embryo is formed and may develop to an advanced states before oviposition, the egg hatches outside the body.

    Segment details52:24–52:34 · rev_9f9de6cc913afa3065ce86763c740705_202
  204. What do I think of the state of London currently? Um, sounds like a shithole that I would never want to go to.

    Segment details52:41–52:51 · rev_9f9de6cc913afa3065ce86763c740705_203
  205. Jay Powell's still talking. Do you think he dreams about economics as well? Because you must love economics to want to become the fair man— I mean, the chairman of the Fed— and know everything about monetary policy. Like, he'd obsess over it like a nerd. I don't know what kind of person you gotta be to love economics that

    Segment details53:02–53:25 · rev_9f9de6cc913afa3065ce86763c740705_204
  206. much.

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  207. Did you manage to rescue Meryl as a kid, or did you take Otacon home? I actually think I didn't even finish the game. I think I got stuck and gave up. I think— I don't remember. I think I got to Sniper Wolf and then I gave up.

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  208. I don't think I've finished a single video game my whole life.

    Segment details53:49–53:51 · rev_9f9de6cc913afa3065ce86763c740705_207
  209. Maybe one or two.

    Segment details53:55–53:56 · rev_9f9de6cc913afa3065ce86763c740705_208
  210. Oh God,

    Segment details54:13–54:14 · rev_9f9de6cc913afa3065ce86763c740705_209
  211. I wonder if market is still going to keep ripping.

    Segment details54:19–54:32 · rev_9f9de6cc913afa3065ce86763c740705_210
  212. Ovoviviparity. Ovoviviparity is a bridging form of reproduction between egg-laying oviparous and live-bearing viviparous reproduction. Ovoviviparous animals possess embryos that develop inside eggs that retain— remain in the mother's body until they are ready to hatch.

    Segment details54:42–55:04 · rev_9f9de6cc913afa3065ce86763c740705_211
  213. The young of some ovoviviparous amphibians, such as Limnonectes larvipartus,

    Segment details55:14–55:20 · rev_9f9de6cc913afa3065ce86763c740705_212
  214. are born as larvae and undergo further metamorphosis outside the body of the mother. Members of genera

    Segment details55:23–55:30 · rev_9f9de6cc913afa3065ce86763c740705_213
  215. and Eleutherodactylus—

    Segment details55:32–55:34 · rev_9f9de6cc913afa3065ce86763c740705_214
  216. basically just toads— bear froglets, not only the hatching but all the most conspicuous metamorphosis being completed inside the body of the mother before birth. Among insects that depend on opportunistic exploitation of transient food sources, such as many

    Segment details55:38–55:57 · rev_9f9de6cc913afa3065ce86763c740705_215
  217. Sarcophagidae and other carrion flies, species such as many Calliphoridae

    Segment details56:00–56:07 · rev_9f9de6cc913afa3065ce86763c740705_216
  218. that rely on fresh dung, and parasitoids such as tachinid flies that depend on entering the host as soon as possible. The embryos commonly develop to the first larval instar inside the mother's reproductive tract. And they hatch just before being laid, almost immediately afterwards.

    Segment details56:10–56:29 · rev_9f9de6cc913afa3065ce86763c740705_217
  219. Hey guys, where's everyone tuning in from today? Wow, really, it's great.

    Segment details56:34–56:38 · rev_9f9de6cc913afa3065ce86763c740705_218
  220. Do it on stream. What, y'all get excited? Nah, I'm good.

    Segment details56:45–56:50 · rev_9f9de6cc913afa3065ce86763c740705_219
  221. Oh, it's here.

    Segment details56:58–57:02 · rev_9f9de6cc913afa3065ce86763c740705_220
  222. Um, ovoviviparous animals are those animals that are similar to viviparous species in which there is internal fertilization and the young are born alive, but differ in that there is no placental connection and the unborn are nourished by egg. The mother's body does provide gas exchange.

    Segment details57:26–57:47 · rev_9f9de6cc913afa3065ce86763c740705_221
  223. In some species, the internal developing embryos rely solely on yolk. This is known as a yolk sac viviparity and is regarded as a type of lecithotrophy, no maternal provisioning. Other species exhibit matrotrophy, in which the embryo exhausts its yolk supply early in gestation, and the mother provides additional nutrition.

    Segment details57:51–58:18 · rev_9f9de6cc913afa3065ce86763c740705_222
  224. This additional provisioning may be in the form of unfertilized eggs, intrauterine oophagy, uterine secretions, or it may be delivered through a placenta.

    Segment details58:21–58:34 · rev_9f9de6cc913afa3065ce86763c740705_223
  225. Placenta is a temporary embryonic and later fetal organ that begins developing from the blastocyst shortly after implantation, plays critical roles in facilitating nutrient, gas, and waste exchange between the physical separate maternal and fetal circulations. So basically, it's just a flesh bag that grows a zygote inside of it. The first 2 of these modes were categorised under histotrophic

    Segment details58:36–59:04 · rev_9f9de6cc913afa3065ce86763c740705_224
  226. viviparity or aplacental and

    Segment details59:04–59:07 · rev_9f9de6cc913afa3065ce86763c740705_225
  227. A placental viviparity.

    Segment details59:14–59:18 · rev_9f9de6cc913afa3065ce86763c740705_226
  228. Ovolarviparity. Some insects, notably tachinid flies, are ovolarviparous, which means that the embryos develop into the first larval stage within the egg while still in the female's oviduct. As a result, the larvae hatch more rapidly, sometimes immediately after egg deposition, and can begin feeding right away.

    Segment details59:23–59:50 · rev_9f9de6cc913afa3065ce86763c740705_227
  229. A similar phenomenon is larviparity, in which larvae hatch before the female delivers them, although this may be mistakenly identified in species with very thin and transparent egg membranes.

    Segment details59:53–1:00:07 · rev_9f9de6cc913afa3065ce86763c740705_228
  230. What next? What about spawning?

    Segment details1:00:19–1:00:24 · rev_9f9de6cc913afa3065ce86763c740705_229
  231. Viviparous. An animal's viviparity is the development of the embryo inside the body of the mother, with the maternal circulation providing for the metabolic needs of the embryo's development until the mother gives birth to a fully or partially developed juvenile. That is at least metabolically independent.

    Segment details1:00:34–1:00:57 · rev_9f9de6cc913afa3065ce86763c740705_230
  232. This is opposed to oviparity, where the embryos develop independently outside the mother in eggs until they are developed enough to break out as hatchlings, and ovoviviparity, where the embryos are developed in eggs that remain carried inside the mother's body until the hatchlings emerge from the mothers. As juveniles similar to live birth. So they have the egg inside

    Segment details1:01:00–1:01:25 · rev_9f9de6cc913afa3065ce86763c740705_231
  233. of them. That's weird.

    Segment details1:01:25–1:01:27 · rev_9f9de6cc913afa3065ce86763c740705_232
  234. Viviparity and viviparous both derive from the Latin vivus, meaning living, and pario, meaning give birth to.

    Segment details1:01:29–1:01:37 · rev_9f9de6cc913afa3065ce86763c740705_233
  235. Oh, hey TB, read us the Wikipedia on Otto Warmbier. Maybe. I don't know who that is. Market still ripping.

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  236. Bitmine are ripping. Gold are ripping.

    Segment details1:01:55–1:01:59 · rev_9f9de6cc913afa3065ce86763c740705_235
  237. Stocks and Shares ISA, oh, are ripping, up £522, up £47 today. Light Strategy up 2.43%.

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  238. Nice. Powell's still talking. He's still talking. Technology can work for everybody as long as everybody's getting the skills and aptitudes they need to use that technology. This is Golden and Katz, their work, which they actually spoke about at Jackson Hole this year, but it's a 20-year-old book.

    Segment details1:02:22–1:02:39 · rev_9f9de6cc913afa3065ce86763c740705_237
  239. Uh, we can't do that. That's not something the Fed can do. We also can't— we can't address the, the potential society. Hey, Mark, you even care about what he's saying right now?

    Segment details1:02:42–1:02:51 · rev_9f9de6cc913afa3065ce86763c740705_238
  240. Doesn't seem like it. He's not saying anything important. He's just talking about economics.

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  241. Whoa, it just ripped. Oh no, that was gold.

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  242. Market is ripping.

    Segment details1:03:25–1:03:26 · rev_9f9de6cc913afa3065ce86763c740705_241
  243. Oh God, I feel sick.

    Segment details1:03:33–1:03:34 · rev_9f9de6cc913afa3065ce86763c740705_242
  244. Like, I can smell that weird smell that you smell when you're sick.

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  245. It's kind of like lavender flower.

    Segment details1:03:46–1:03:48 · rev_9f9de6cc913afa3065ce86763c740705_244
  246. Getting kind of cold as well. I should probably layer up.

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  247. I think being cold on the weekend made me sick because I was a bit chilly.

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  248. I didn't wear a jacket.

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  249. I haven't washed this bathrobe since 2021

    Segment details1:04:29–1:04:32 · rev_9f9de6cc913afa3065ce86763c740705_248
  250. because that was the last time I wore it. I was at my mum's house.

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  251. I can't believe last time I wore this I was 32 years old, still full of dreams and hope. About the future of my YouTube channel. All right.

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  252. Okay. Five modes of reproduction have been differentiated in animals based on relations between zygote and parents. The five include two non viviparous.

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  253. Um,

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  254. where everyone tuning in from, guys? 5 modes of reproduction have been differentiated in animals based on relations between zygote and parents. The 5 include 2 non-viviparous modes: ovoviviparity with external fertilization and oviparity with internal fertilization. In the latter, the female lays zygotes as eggs with a large yolk. This occurs in all

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  255. birds, most reptiles, and some fishes. These modes are distinguished from viviparity, which covers all the modes that result in live birth.

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  256. Histotrophic viviparity: the zygotes develop in the female's oviducts but find their nutrients by oophagy or adelphophagy. Intrauterine cannibalism of eggs or sibling embryos in some sharks, or in the black salamander.

    Segment details1:06:49–1:07:06 · rev_9f9de6cc913afa3065ce86763c740705_255
  257. What is an oviduct? A passageway from the ovary. In human females, this is more usually known as the fallopian tube. The eggs travel along the oviduct. These eggs will either be fertilized by spermatosa to become a zygote or degenerate in the body.

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  258. It makes us sound so alien describing us as a zygote. So, oh, congratulations on the zygote, your baby zygote. Sounds like an alien.

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  259. Hemotrophic viviparity— nutrients are provided by the female Often through some, some form of placenta. In the frog Gastrotheca ovifera, embryos are fed through by the mother through specialized gills.

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  260. 1. The skink Suedomoya ventricastriata— I can't even say that. What the fuck is that?

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  261. Commonly known as Antracastose skink, the southern grass skink, the tussock cool skink,

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  262. Suedamoya antracastosi. And most mammals exhibit a hemotrophic viviparity.

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  263. Um, I don't think I blocked word Graham unless someone else did.

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  264. Banned words.

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  265. It's not in there.

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  266. Type it again.

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  267. Are you typing Graham?

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  268. What are you typing?

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  269. Because I haven't banned it.

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  270. It's not in the banned list.

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  271. Or is it? No, it's not.

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  272. What word are you typing?

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  273. I don't know what you're typing. It says deleted.

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  274. Oh, I can see. Oh, you're spelling Z-I-G-G-O-T. Why is that banned? But that's not how you spell it. It's Z-Y-G-O-T-E.

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  275. I thought you were trying to type Graham. I thought Graham was like a hate word.

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  276. Placental viviparity is arguably the most highly developed form of viviparity. Placental mammals, including humans, are the best-known examples. But adaptations in some other animals also have incorporated this principle or close analogies. Other examples include some species of scorpions and cockroaches, certain genera of sharks and snakes, and some species of velvet worms. Ovoviviparity, a

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  277. less developed form of viviparity, occurs in most vipers

    Segment details1:10:50–1:10:54 · rev_9f9de6cc913afa3065ce86763c740705_276
  278. and in most live-bearing bony fishes. However, the term is poorly and inconsistently defined and may be obsolete. This term is being redefined and more commonly referred to as oviparous egg retention or prolonged egg retention.

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  279. At least some transport of nutrients from mother to embryo appears to be common to all viviparous species, but those with fully developed placentas, such as found in the Theria, a subclass of mammals amongst the theriforms.

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  280. Theria includes the eutherians and the metatherians but excludes the egg-laying monotremes and various extinct mammals evolving prior to the common ancestor of placentals and marsupials. What's this Theria?

    Segment details1:11:33–1:11:47 · rev_9f9de6cc913afa3065ce86763c740705_279
  281. Theria is a subclass of mammals among the Therianiformes.

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  282. Theria includes eutherians— what are they? Panplacentalia is the clade consisting of placental mammals and all therian mammals that are more closely related to placentals than to marsupials— and the metatherians. Includes all mammals closely related to marsupials.

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  283. Okay.

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  284. The earliest known therian mammal fossil is Juramaia from China's Late Jurassic.

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  285. Extinct genus of therian mammal,

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  286. possibly a very basal eutherian mammal.

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  287. Known from the Late Jurassic or Early Cretaceous deposits of western Liaoning.

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  288. A 2022 review of the Southern Hemisphere Mesozoic mammal fossil record has argued that tribosphenic mammals arose in Southern Hemisphere during the Early Jurassic, around 50 million years prior to the clade's earliest undisputed appearance in the Northern Hemisphere.

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  289. Tribosphenida is a clade of mammals that includes the ancestor of Hippomylos, Agelia odontia. It belongs to the— I don't know what the fuck it's going on about. You lost me.

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  290. Oh God, there's too many words I don't understand.

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  291. Oh yeah,

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  292. I'm

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  293. sick.

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  294. These straps aren't going to last long, are they?

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  295. Powell still speaking. Yeah, another sort of philosophical question. Michael Barr spoke to the policy conference in 2024, I believe it was. Where everyone tuning in from, guys? What would your advice be to the economists in the room? In terms of how we can best serve the challenges that are facing us collectively in this moment. I would, I

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  296. mean, I'm inclined to say keep your heads up. Don't just earn money, take control of it. That takes TV, no matter how much you start with. Duh. You know, I think it's a distinguished profession. It's a very high-order profession, and you should be proud of your work and keep at it. You know, I mean, ultimately, We're learning

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  297. about how the economy works and how society works. We're— I mean, our understanding is so basic and so uncertain really still after all these years. But, you know, you got to think we're making some progress and doing some good and imposing any, you know, sort of an analytical framework around the kind of decisions people make about the

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  298. economy. So I just want to give you a vote of support and say keep at it. And likewise, Nick supports you.

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  299. What was that? All right, are we done? I think we're done. Thank you so much. Thank you. Thank you. That was a weird ending. All right, and, uh, that will conclude today's episode of Jerome Powell saying the same thing he says every single time for the 10,000th time. Jerome finished talking. I don't think from Powell— I thought

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  300. that it was— there's some interesting questions that were brought up. I don't think that he really revealed too much of his hand, um, in terms of, you know, what the Fed is thinking about with some of these data points that are missing. I, I just don't see this as being an overly constructive, uh, conversation that they had

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  301. Q&A-wise for learning anything new or out of the ordinary than what typically happens. Uh, the market is continuing to trend in the upward direction. There's a couple of things that you may have seen me scribbling on. Migrants will need A-level standard English to work in Britain. Even I don't have A-level standard English. Those thoughts and, uh, where

    Segment details1:17:52–1:18:12 · rev_9f9de6cc913afa3065ce86763c740705_300
  302. I think there's maybe some interesting opportunity before we sort of depart for the afternoon and then, uh, do whatever it is that you've got going on for the afternoon. So for me, one of the things that I find somewhat interesting— I'm just going to reset this back to— let's go to this dashboard, should be a full-screen hourly

    Segment details1:18:12–1:18:28 · rev_9f9de6cc913afa3065ce86763c740705_301
  303. chart like this. So, you know, I said what if, what if this just ends up being Tariff Tantrum 3.0, 4.0, 5.0, whatever the number is, and this just becomes, you know, we talked about it a little bit this morning, right? Big old double bottom consolidation here, right back to all-time highs, blip on the radar, right? So that's

    Segment details1:18:28–1:18:44 · rev_9f9de6cc913afa3065ce86763c740705_302
  304. one consideration. How does that continue to play out? Well, Of course, being pinned underneath the daily 20 doesn't really help, but if we can consolidate here, it builds out a structural higher low, right? And that becomes a possible idea if we could stay over— really, it's 664. So I think I would, I would go all the way

    Segment details1:18:44–1:19:01 · rev_9f9de6cc913afa3065ce86763c740705_303
  305. back to the comment that I made in the very beginning when we fired up the live stream before Jerome Powell even started talking, before we had the introductory remarks, all that good stuff. Sellers had a big chance this morning, right? Sellers had a big old chance after the washout to come in here where everyone— oh, hello, Mommy,

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  306. nice to see— oh, he's not here. Whoops.

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  307. Offer the lower high underneath Monday's low, and there was a little bit of hesitancy there, right? If we could just go back down to that 2-minute chart, you can see it. You can see the hesitancy right around in here. And if sellers were going to run away with this If we were going to see the market, I

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  308. don't want to say collapse and crumble, but

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  309. at least some transport of nutrients from mother to embryo appears to be common to all viviparous species. But those with fully developed placentas, such as found in the theria, some skinks, and some fish, can rely on the placenta for transfer of all necessary nutrients to the offspring and for the removal of all the metabolic wastes as well

    Segment details1:19:45–1:20:11 · rev_9f9de6cc913afa3065ce86763c740705_308
  310. once it has been fully established during the early phases of a pregnancy. In such species, there is direct intimate contact between maternal and embryonic tissue, though there also is a placental barrier to control or prevent uncontrolled exchange and a transfer of pathogens.

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  311. In at least one species of skink in the large genus Trachyphlepis, placental transport accounts for nearly all of the provisioning nutrients to the embryos before birth. In the uterus, the eggs are very small and about 1 millimeter in diameter, with very little yolk and very thin shells. The shell membrane is vestigial and transient. Its disintegration

    Segment details1:20:48–1:21:18 · rev_9f9de6cc913afa3065ce86763c740705_310
  312. permits the absorption of nutrients from uterine secretions. The embryo then produces in vitro invasive chorionic tissues that grow between the cells of the uterine lining till they can absorb nutrients from maternal blood vessels. As it penetrates the lining, the embryonic tissue grows aggressively till it forms sheets of tissue beneath the uterine epithelium.

    Segment details1:21:18–1:21:46 · rev_9f9de6cc913afa3065ce86763c740705_311
  313. They eventually strip it away and replace it to make direct contact with maternal capillaries. In several respects, the phenomenon is considerably important in theoretical zoology. Blackburn and Fleming remark that such an endotheliocorial placenta is fundamentally different from that of any known viviparous reptile.

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  314. Where everyone tuning in from, guys?

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  315. Hello, relentless boredom. Yes, this is so sad. I am being financially forced into endlessly talking, otherwise I get financially penalized.

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  316. Available exclusively for Streamlabs Ultra subscribers. Apply now to show off AI-powered overlays that respond to your gameplay.

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  317. In at least one species of skink in the large genus Trachylepis, Placental— I already read that. There is no relationship between sex-determining mechanisms and whether a species bears live young or lays eggs. Temperature-dependent sex determination, which cannot function in an aquatic environment, is seen only in terrestrial viviparous reptiles. Therefore,

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  318. marine viviparous species including sea snakes, and it now appears that mosasaurs, ichthyosaurs, and plesiosaurs of the Cretaceous used genotypic sex determination much as birds and mammals do. Genotypic sex determination is also found in most reptiles, including many viviparous ones such as Pseudomoya ontrecustosui, Whilst temperature-dependent

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  319. sex determination is found in some viviparous species such as the Montana water skink,

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  320. In general, viviparity and matrotrophy are believed to have evolved from an ancestral condition of oviparity and lecithic oviparity.

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  321. Nutrient supply through the yolk. One traditional hypothesis concerns concerning the sequence of evolutionary steps leading to viviparity is a linear model. According to such a model, provided that fertilization was internal, the egg might have been retained for progressively longer periods in the reproductive tract of the mother. Through continued generations of egg retention, viviparous leucyto-trophy may have gradually

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  322. developed. In other words, the entire development of the embryo, though still with nutrients provided by the yolk, occurred inside the mother's reproductive tract, after which she would give birth to the young as they hatched. The next evolutionary development would be incipient matrotrophy, in which the yolk supplies are gradually reduced and supplemented with nutrients from the mother's reproductive

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  323. tract. Reproductive tract.

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  324. In many ways, depending on the ecology and life strategy of the species, viviparity may be more strenuous and more physically and energetically taxing on the mother than oviparity. However, its numerous evolutionary origins imply that in some scenarios there must be worthwhile benefits to viviparous modes of reproduction. Selective pressures have led to its convergent evolution more than 150

    Segment details1:26:16–1:26:41 · rev_9f9de6cc913afa3065ce86763c740705_323
  325. times among the vertebrate alone. There is no one mode of reproduction that is universally superior in selective terms, but in many circumstances viviparity of various forms offers good protection from parasites and predators and permits flexibility in dealing with problems of reliability and economy in diverse circumstances. Variations on the theme in biology are enormous, ranging from

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  326. trophic eggs, trophic eggs, to resorption of partly developed embryos in hard times, or when they are too numerous for the mother to bring to term. But among the most profoundly advantageous features of viviparity are various forms of physiological support and protection of the embryo, such as thermoregulation and osmoregulation. Since the developing offspring remains within the mother's body,

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  327. she becomes in essence a walking incubator, protecting the developing young from excessive heat, cold, drought, or flood. This offers powerful options for dealing with excessive changes in climate or when migration events expose populations to unfavourable temperatures or humidities. In squamate reptiles in particular,

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  328. there is a correlation between high altitudes or latitudes, colder climates, and the frequency of viviparity. The idea that the tendency to favour egg retention selectively under cooler conditions arises from the thermoregulatory benefits, and it and that it consequently promotes the evolution of viviparity as an adaptation is known as the cold climate hypothesis. Where everyone tuning in from,

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  329. guys?

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  330. Hope you enjoying the stream, viewers.

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  331. If we're going to fall into a more meaningful time and then we get something into the end of the year. It's an idea. I don't think it's a compelling idea right now. I think that the compelling idea is to remain true to all the signals and signs we've been seeing so far, which have been that, yeah, the

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  332. pullback started to change things a little bit on Friday. Yes, you did. When was the last time I wet the bed? 2010, when I was 20 years old and went to Japan for the first time. I wet myself

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  333. myself. It was not fun.

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  334. Can we get another wheel cleaner stream?

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  335. Nah. What is caustic bases into the interior of your car? I don't know what that means.

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  336. No, I wasn't drinking alcohol the night before.

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  337. The wheel cleaner just has like a waxy finish. That's why it was smeared. There's nothing caustic about it. I don't know what you're talking about.

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  338. Utilities were out, Prince. It's about how low it doesn't go. The fact that we're not spending as much time as we were this morning under the zero line, another bullish indication here for the S&P 500, the NASDAQ, generally markets as a whole. All right, I think I'm going to wind it down on that note. We're not going

    Segment details1:30:30–1:30:46 · rev_9f9de6cc913afa3065ce86763c740705_337
  339. to look at Meta for our timed-out user. And once again, SPY sellers failing that opportunity. If it was going to be a big bear day, you needed to set that lower high, and it's just not happening. So have yourself an awesome afternoon, an awesome evening. Today is not Wednesday, so there will not be a midweek market.

    Segment details1:30:46–1:31:06 · rev_9f9de6cc913afa3065ce86763c740705_338
  340. What is my takeaway of the history of Ptolemies? I don't even know what that is.

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  341. Ingredients: sodium metasilicate phosphate, strong surfactants.

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  342. Well, yeah, all cleaning products have chemicals in it though.

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  343. I mean, they wouldn't be able to clean if they didn't have chemicals in it.

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  344. Ah, God.

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  345. It's 6:20, about 40 minutes till dinner.

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  346. Stream's dragging today.

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  347. I've got more viewers than suspenders and Gary. Haha, losers, suck it.

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  348. I don't even think I'm gonna be hungry at 7.

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  349. Might break at 7:30 then, or 8 o'clock.

    Segment details1:33:10–1:33:14 · rev_9f9de6cc913afa3065ce86763c740705_348
  350. This is— I don't think I can stream much past 11. I need to rest. This is the first day of sickness.

    Segment details1:33:17–1:33:24 · rev_9f9de6cc913afa3065ce86763c740705_349
  351. I got a pizza for dinner.

    Segment details1:33:26–1:33:28 · rev_9f9de6cc913afa3065ce86763c740705_350
  352. I really hope this is not going to be a A big sickness. It doesn't seem that way.

    Segment details1:33:33–1:33:38 · rev_9f9de6cc913afa3065ce86763c740705_351
  353. The sore throat is quite mild.

    Segment details1:33:41–1:33:43 · rev_9f9de6cc913afa3065ce86763c740705_352
  354. That's just— I think as long as I don't get a fever

    Segment details1:34:47–1:34:49 · rev_9f9de6cc913afa3065ce86763c740705_353
  355. I don't care. I mean, cough is annoying, but it's the fever and the dizziness and the aches. That's the worst bit.

    Segment details1:34:51–1:35:01 · rev_9f9de6cc913afa3065ce86763c740705_354
  356. I just— I don't want that.

    Segment details1:35:03–1:35:05 · rev_9f9de6cc913afa3065ce86763c740705_355
  357. Today's Tuesday, isn't it?

    Segment details1:35:35–1:35:37 · rev_9f9de6cc913afa3065ce86763c740705_356
  358. I wonder if the market's really done tanking. Is that it? I thought people were saying probably not the bottom yet. Every time they say that, they're wrong, aren't they?

    Segment details1:36:28–1:36:40 · rev_9f9de6cc913afa3065ce86763c740705_357
  359. If everyone's saying it, then it doesn't come true.

    Segment details1:36:42–1:36:44 · rev_9f9de6cc913afa3065ce86763c740705_358
  360. What am I in now? I'm in Gold Bitmine Immersion.

    Segment details1:37:38–1:37:44 · rev_9f9de6cc913afa3065ce86763c740705_359
  361. Um, that's it mostly. 嗯。

    Segment details1:37:47–1:38:04 · rev_9f9de6cc913afa3065ce86763c740705_360
  362. Oh, are you in gold before the drop? Yeah, I'm up 24%.

    Segment details1:38:17–1:38:21 · rev_9f9de6cc913afa3065ce86763c740705_361
  363. I've been in gold for 2 months now.

    Segment details1:38:27–1:38:31 · rev_9f9de6cc913afa3065ce86763c740705_362
  364. Hello, Ollie, where are you tuning in from tonight?

    Segment details1:39:15–1:39:20 · rev_9f9de6cc913afa3065ce86763c740705_363
  365. That's great.

    Segment details1:39:33–1:39:34 · rev_9f9de6cc913afa3065ce86763c740705_364
  366. Kick told me I have to talk to my viewers more to not violate the rules because they're a bunch of fucking morons.

    Segment details1:39:37–1:39:50 · rev_9f9de6cc913afa3065ce86763c740705_365
  367. I'm not only doing 2-hour streams, I'm just cutting the whole stream into 2-hour segments. So if I did violate something, they only dock the money from one stream. Of the whole day of streaming. Because on Friday I violated a few times and they took all my money from Friday.

    Segment details1:40:14–1:40:33 · rev_9f9de6cc913afa3065ce86763c740705_366
  368. I didn't get any of the money from Friday just because I had a couple violations. Isn't that crazy?

    Segment details1:40:36–1:40:42 · rev_9f9de6cc913afa3065ce86763c740705_367
  369. Because I was doing the Rubik's Cube and I wasn't talking for a bit because I was focusing on the Rubik's Cube.

    Segment details1:40:46–1:40:51 · rev_9f9de6cc913afa3065ce86763c740705_368
  370. It took the whole fucking day of my money.

    Segment details1:40:54–1:40:56 · rev_9f9de6cc913afa3065ce86763c740705_369
  371. Well, and they expect me not to be pissed? Fucking pricks.

    Segment details1:40:58–1:41:02 · rev_9f9de6cc913afa3065ce86763c740705_370
  372. Of course I'm gonna be pissed. What do they expect? A stupid fucking rule says you can't talk for more than, I don't know, 5 or 10 minutes. I mean, you can't not talk for more than a certain amount of time. And they say, oh, it was a static stream,

    Segment details1:41:04–1:41:21 · rev_9f9de6cc913afa3065ce86763c740705_371
  373. not enough interaction. Fuck you, fucking idiots.

    Segment details1:41:23–1:41:29 · rev_9f9de6cc913afa3065ce86763c740705_372
  374. Interact my fucking knob, bunch of fucks,

    Segment details1:41:34–1:41:38 · rev_9f9de6cc913afa3065ce86763c740705_373
  375. telling me how to stream. I know how to stream.

    Segment details1:41:41–1:41:43 · rev_9f9de6cc913afa3065ce86763c740705_374
  376. I've been streaming since 2016.

    Segment details1:41:47–1:41:50 · rev_9f9de6cc913afa3065ce86763c740705_375
  377. Stream however the fuck I want to stream, stupid fucking idiots.

    Segment details1:41:53–1:41:59 · rev_9f9de6cc913afa3065ce86763c740705_376
  378. How about you just mind your own business and let me stream how I want to stream? And if the viewers don't like it, then they can vote with their feet. Fucking morons telling me how to stream.

    Segment details1:42:21–1:42:29 · rev_9f9de6cc913afa3065ce86763c740705_377
  379. I know how to run my stream.

    Segment details1:42:43–1:42:44 · rev_9f9de6cc913afa3065ce86763c740705_378