Get ready to hear the truth about America on a show that's not immune to the facts with your host, Dan Bongino. So I'm going to show you a video today at the beginning of the show that is a clinic on how to a two minute clinic on how to deal with liberals. When you're debating them and they say something stupid, the answer is ask them to produce the evidence. Because whenever you ask a liberal, here's a little trick with liberals.

Whenever you ask liberals to produce the evidence, they find themselves in this conundrum. There is no evidence for the dopey things they say. So it works really well and it typically shuts them down right away. Want to show you that video? Open the show. I've also got a lot more today show better by Express VPN, have some peace of mind online. Surf the web and get a VPN. Go to express VPN dot com Bongino today, pick up your VPN.

Welcome to Dan Bongino show. I've got that. I've also got the details on the GameStop story. I'm going to give you both sides of this story, tell you where I lean and ultimately history will tell the true tale of what happened. But this GameStop story is fascinating for a lot of reasons. And it's going to be in addition to what I spoke about last week, how a bunch of retail investors beat the big guys on Wall Street, beat them, there's no doubt about it.

Fascinating story.

Welcome to Dan Bongino. Show our first sponsor, our friends at Venturer, wearing one of their sharp watches today. I love and always have. Why? Because I don't like wasting money on products that don't do what they do. You want to watch. You want it to look good, right? Well, if the watch doesn't look that good, you're overspending. You're wasting your time with this new year. It's time to get started on improving yourself.

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When to get to these two videos. I'll get to the clinic one in a minute. The two minute clinic. This is classic Greg Gutfeld from the five shutting it down. Shut it down lead. Get a lid on it right away. Ask liberals to produce the facts. They never can. But first, they just want to show you a quick one, because I've been warning you about this for weeks, how the liberals weaponized language and how they use terms.

Remember the other day, parliament, when we started the show the other day, right before we came on the air, I was watching Fox in the background. They said we're going to have an anti hunger advocate on an anti hunger. Is there an opposite side of that? Is there is there is there a pro hunger advocate? You understand how liberals work. They create these terms that make it impossible to resist them anti hunger advocates. And if you object to anything they say, like we're going to tax people and steal farm food to give to hungry people.

And if you object and go, maybe that's not the best idea to end the hunger. You can't fight the anti hunger advocate. You can't you're pro hunger. You are definitely pro hunger. You notice how they use the same tactic with what? What's the Apollo? It's the topic this year. Today. Oh, you have to be antiracist. So advocates now who follow this new white fragility stuff, they are antiracist. Is there anyone pro racist, is there any respectable member of society you would have in your house or anywhere else that's pro racism, anyone?

Of course, the answer is no. So you wonder why they create terminology like this and they create terminology like this to avoid serious conversations. So in other words, if you don't teach a terror group's doctrine in school like Black Lives Matter, which is a Marxist terror group, they've terrorized cities, they burned down cities, they practiced Marxism openly. They've talked about it. If you dare object to them, then black lives don't matter to you, which is absolutely insane.

They do this all the time. This is how they were going to advance to the next level of censorship by continuing to wipe you off social media platforms, Facebook and Twitter, everything you say is going to be classified as hate speech. Therefore, if you dare fight them, you are pro hate speech. You don't believe it made its way into the White House briefing room yesterday. Check out the briefing by Jen Psaki. She didn't circle back on this one.

This. You know, this what she got right to the point when they were asked about, hey, this President Biden support the continued banning by Twitter of President Trump off the platform.

Listen to our answer. Check this out. Does President Obama support the continuing trouble there? I think that's a decision made by Twitter. We certainly spoke to and he's spoken to the need for social media platforms to continue to take steps to reduce hate speech. But we don't have more for you on it than that.

You see the trick. You see the trick she just did. Don't ever forget this. You have to be better debaters than them because the facts are never on their side, which are proven a second. That'll be technique number to ask liberals to produce the facts. They can't do it. But trick number one they use all the time is in order to avoid dealing with the nuances of any debate. Every debate has nuance. Ladies and gentlemen, nothing is black and white.

Nothing, nothing. Not debates about tax rates, not debates about government. Nothing is black and white. How much taxes? Where do we tax income? Do we tax capital gains? What about carried interest? What about property taxes? Everything has nuance. Everything. Everything is nuance. There's no black and white. Liberals want to make things black and white to avoid nuance. Why? Because they don't have evidence to back up any of their arguments and once you get into the nuance, they start to lose, like when you say things to them, like, hey, well, hiking taxes traditionally has resulted in lower tax income to the government because people then avoid paying taxes and pay accountants to get out paying get out of paying the higher tax rates.

They don't want to acknowledge that. So what do they do? They make it simple and they make it things about hate speech. Therefore, if you fight them and if you dare talk about the real complexities of banning a former president from a public forum such as Twitter, which has become a public forum with a de facto public forum, rather than getting into the nuances in the censorship dangers of doing that, they don't want to do it. So what does Jen Psaki do?

She resorts to standard liberal trick number one, make it a black and white issue when it's all gray. Be the anti hunger advocate. That way, anyone who fights you and it's black and white, they're on the wrong side and it's their hunger advocates, they want to advocate for hunger. You're an antiracist if you're a leftist. Therefore, any questions about class identity politics, the breakdown of race in society, any nuance which is everywhere? It's not to be nuanced.

It's not to be argument argued, and it's nuance. If you dare argue against liberals and their policy prescriptions which enhance their power, you are then pro racist because you're fighting them and they're anti racist. It's going to be the same thing with hate speech. Anyone, anyone they disagree with will be thrown into the big hate speech cauldron and kicked to the curb and say, hey, you want to support getting Donald Trump back on Twitter, you're for hate speech, man.

They do it all the time because they're dumb, they're dumb. They don't have the ability to think to second order effects. Let me show you this other video from the beginning of the show here. This is from the five yesterday. So one tactic with the left on No. One is don't let them bottle you into black or white arguments with that reporter, if they were really interested, should have said, listen, I'm not interested in your subjective definition of hate speech.

I ask you a specific question about the role of a former president, Donald Trump, on a social media platform that's a de facto public space. Answer the question. But they don't want to do that. That's how you get around the anti hunger, the anti racist stuff where anybody who fights them is pro racism. Therefore, to be SHONN, which is nonsense. It's none of that's actually true. Get them into the details, really, so if I object your your anti-racism training, because I think it's furthering the class and race divide in the country, I'm a racist.

What about the fact that the policies on promoting school choice business develop in inner cities have actually benefited the minority community? How about we debate those? Stick to the point, don't let them get off it, but also do this. Do it. Greg Gutfeld did in this segment yesterday. He was having this debate with Donna Brazile on the five. And Donna Brazile said something that is factually, entirely inaccurate, made up that Donald Trump advise people to drink bleach.

What do you do whenever they do that, which is often you ask them to produce the evidence, watch the panic that ensues when Greg Gutfeld asks Donna to actually produce the evidence that happened. Check this out.

And by the way, if Joe Biden goes out there one day and asks people to drink bleach as a way of fighting a pandemic, God knows that never happened. Donna, you got fed a lie. There's a there's a no. Donna, you got that never happened. If you're going to say that on this show, you got to have the clip. Never happened. Well, get the call right. Because it was good that you want to call your state dinner if you find that clip.

I mean, there's it never happened. But no, I'm just going to. But just trying to be honest. Yes, you did. If you're going to bring up something that's not true, we got to point it out. That's what we do agree. Greg. Don't have an attack, David, because I'm not there to give you some dissertation that.

Oh, where's the evidence? The greatest question ever. Where is the evidence, really, Donald Trump told people to drink bleach, can you produce that clip? The bed always works to remember when I made I still, by the way, no one has claimed my hundred thousand dollar bounty, I put out one hundred thousand dollar bounty for any journalist that can prove that that Westwood One story in The Washington Post that I was told by Westwood One in Cumulous to stop talking about the election, I put out one hundred thousand dollar bounty to any journalists that could produce that actual electronic copy of the email because the story's totally made up and fabricated.

You know, not one person has cashed in. Why wouldn't you take the hundred k? That's a lot of money. Six figures, 100k, no questions asked. I'd write you the check myself. Why is no one done it? Because I asked them to produce the evidence. Paul Farhi in The Washington Post that their story was true and no one could. And that weird, where are the corrections, by the way, not nowhere, no, nowhere.

Of course, there's nowhere left this don't actually correct themselves after they lie to you. God forbid they had any morals and dignity. I've never got an apology from Paul Farhi of The Washington Post for this fake story. Now, whether Donna apologized to Greg in the audience, I'm not sure, but that was, in fact, false. Donna can never produce the clip because there is no clip of Donald Trump telling people to drink bleach, it's made up.

And if you believe it, I'm really sorry. I know it. Some people object to my use of harsh terminology, but in this case, it's true if you believe that you're an imbecile.

Because you can easily watch the clip, which I would produce today, but I don't want to waste your time because it's not there, so I'm not going to play you a clip of something that doesn't exist.

You could easily go and look at the clip yourself of Donald Trump when he was giving a coronavirus briefing, and you will see rather easily if you have an IQ in the eighty five range or above that. Donald Trump never, in fact, said to drink bleach. You just made it up. So if you believe it, then you're really, really stupid. Ask for the evidence. And don't ever let them get off track with their simple black or white arguments, no pun intended, with their play on identity politics.

There's simple use of race where anti-racist activist activists you are, we're all anti-racist activists, all of us know once pro racists. So why you use that terminology? Oh, because you want to stigmatize anyone who objects to your liberal power grab. Oh, now. Yeah, yeah. Now we get it. Hate speech, you don't want to talk about Donald Trump, so it's all about hate speech. Hey, before anyone objects to Donald Trump's characterization by Twitter, it's all you're definitely pro hate speech.

These are sick people. Folks, I want to get into this game stop story now. I got to move on because I want to tell both sides of this why. I'm going to tell you where I stand at the end, I think you know that from listening to this GameStop story about a bunch of retail investors who beat some of the biggest hedge funds, investors on Wall Street, despite this being their only job, literally their one job in hedge funds was to make money for their clients by leveraging knowledge asymmetries, knowing things retail investors didn't know.

Right. That's how hedge funds supposedly make money. Why else would you invest in them? You're giving them if it's a standard old to 20 or to 15, Carrie, you're giving them a two percent management fee and 15 percent of your money at some hurdle before anyone even catches it. That's an extraordinary amount of money, how a lot of these hedge funds and big investors make their money. Why are you giving them all this money? Because they're supposed to know things about the market, the great unwashed, us, the great unwashed crowd doesn't know.

So what happens when the great unwashed crowd, all of us get together and beat the people who are supposed to be smarter than everyone else? The answer is they lose their minds and they go to D.C. and their friends in Washington, D.C. to shut it down lid, get a lid on it right away. You can't have the great unwashed beating us at our own game because then what would happen? That's right, really wealthy people would stop giving them money because the whole facade, the the whole curtain would be pulled back and the wizard would be exposed that maybe they don't know as much.

These hedge fund guys.

I'm not stigmatizing them that stereotype them, just saying a fact. Maybe they don't know everything they said they knew. You know, I'm going to get this story, let me get to my my second spots first, it's going to take a minute, but I'm going to give you the other side of the story, too. To be fair, we always do this even on controversial topics, because it'll make you a better debater in the long run to know both sides and facts do matter even when they're uncomfortable.

Right. Let's not be liberal. Today show also brought to you by a terrific new movie, Run, Hide, Fight. Have you seen this? It's rated TVM, GMA Viewer Discretion Advised, but it's a production by our Friends of the Daily Wire. The Hollywood elite refused to produce the film because it didn't fit their political agenda. The Daily Wire doesn't believe in censorship. So now you can stream, run, hide, fight.

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It's not as simple. As a. Hedge funds versus retail investors story, I do believe, however, it is an us versus them story, as I've said often, and it's not an effort for me to further divide America. It's an effort for me to expose these divides so we can, in turn, combat them and get to a more legitimately free, fair and just society. Not like the left wants you to believe their versions of justice are skewed and really kind of grotesque.

So let's give the other side of the story first. So the way it's been sold to folks out there is.

This was a bunch of retail investors who beat the big guys, these hedge funds and stuff, so let's give the hedge fund side sort of story first. So The Wall Street Journal has an interesting article on this yesterday on these short sellers.

So what the short sellers did, just a quick nuts and bolts on how the hedge fund guys plan to make money on GameStop stock. GameStop again as a retail store that sold basically video games. That was having some trouble because video games can be downloaded. Now, you don't need to go into a GameStop retail outlet to buy a plastic cartridge, download it. So they were having serious trouble. The story in The Wall Street Journal gives the other side GameStop was an enjoyment of crowds.

Players weren't investors and they didn't invent a new road to prosperity and wealth creation by Holman Jenkins. So what some hedge fund investors who, again, make money by claiming they have some set of knowledge that other people don't. That's why people give them extraordinary sums of money to invest their money. Right. They said, hey, we've got the skinny and we're going to short this game, stop stock, because this GameStop company is a mess. It's a wreck.

People are downloading games. This is going to go on there. So the stock is going to go down. So by shorting a stock, you take advantage of the stock going down by making money off it. How do you do that? You borrow the stock from someone so stocks 20 dollars. You borrow the stock from someone, you don't buy it. You pay them a small fee to borrow it. I borrow your stock. I then sell it.

The stocks twenty dollars and I borrow it, say for a buck, I borrow it, it's twenty dollars. I then sell it on the market. I get my twenty dollars. The problem is I borrowed it so I got to give it back. But it doesn't matter because I think the stock's going to go down. Right, because I'm a hedge fund guy and I'm super smart. I've got knowledge you don't have to. I told my clients so I'm getting a lot of money.

So when the stock goes down like I anticipated. Right. Say the stock goes down to 10. That's a pretty big drop. This is great. I go, I buy it back from someone else for ten dollars. Remember, I already sold the stock I borrowed to someone for 20, I buy it back for 10 and give it back to the guy, borrowed it from what a deal. You'd pocket nine bucks, right? I paid a dollar to borrow it because I didn't buy it, I just borrowed it.

It was 20 dollars. I went and took the borrowed stock, sold it on the market for 20 pocketed 20 bucks, minus the one. So I pocky because I paid a dollar to borrow it, so I pocketed nineteen dollars stock drop. Like I said, because I'm a fun guy and I'm smart. I know things you don't. The stock drops to ten, I buy it in the market back for ten. I give it back to the guy.

What a deal. I pocket nine dollars. Right. So I only had to buy it back for ten. Well, there is a role for short selling, you may say, well, what's the short selling that sounds like a scam. Ladies and gentlemen, listen, in a free society, people are going to do that. You can't ban them from doing it. But we shouldn't be banning him from losing money. Here's the short sellers side of the story or what say Holman Jenkins doesn't represent short sellers, but he just kind of fairness.

He says, on the contrary, by taking their short positions, he's talking about the hedge fund, hedge fund guys that lost in the game stopped you. They actually gave long term bulls a way to earn extra money by lending their own shares to assist the trades the shorts wanted to make. Many bulls likely have short positions themselves to hedge their long positions in companies like game stock in the movie theater AMC. Let me just translate that for you quick.

What he's saying is you don't want to ban short selling, that's an overly dramatic response. It's not as simple as short sellers versus retail guys, because what happens? Well, for every short position, someone who thinks the stock's going to go down, there's a counterparty that thinks the stock's going to go up. That's why he lent the stock. Remember to short sell a stock to shorts, you have to borrow one. So people who are long and think, I know, I think these short seller guys are idiots on GameStop, I think GameStop is going to go up and you're going to hold the stock for a long time.

Then that's an easy way for you to make money, right? Just lend the stock out, it really high fees to people, short sellers, who in this case got burned but lend the stock out to them while you sit on it forever. Not only are you making money on paper as the stock goes up, if you believe it's going to go up, but you're also making money lending it out to various people.

What a deal, Paula. That makes sense. Thank you. You sure that's a double? Not. Remember, there's always a counterparty, there's always someone on the other side of the trade who thinks they're going to make money too long, that the stock's due to go up, hey, I'll lend it to the short seller idiots. Well, it's just great. You mean I don't have to sell. My stock continues to go up and I can lend it to you for a nice little fee.

What a deal. So don't instinctively jump to the we got to ban short selling. Because there's someone on the other side of that who believed in GameStop that made money off these idiots, too, I don't want to go, but they really were idiots always by these short sellers.

They really were stupid. And I'm sorry, but sometimes stupid people have to be taught a lesson with money coming out of their own pocket to not do it again. So, again, I'm giving you the other side of the story here that the. Jumping to the conclusion like leftists do, that we should ban short selling and use government is not necessarily the answer here. Because there were people who weren't long, not sure who made money off the short sellers, do you want it if there's no short selling, that is no one going long either.

Here's the second part of my other side of the story, so we have a full cornucopia of debate tools involved here. We're not just stuck in dopey liberal boxes where we have to make stuff up and say, hey, it's page charts. That's not an argument. There's nuance somehow, always 50 shows into a larger narrative. Nothing's black or white. Everything is nuanced, everything. So it makes us different than them, oh, us versus them where I heard them before, so it makes us different than them, we understand nuance.

Now, the Wall Street Journal article I found out today. Again, giving you the other side of the story on GameStop, this is by David Abberton. Why brokers had to restrain trading in GameStop shares, they were minimizing their own financial and regulatory risk, not trying to bail out hedge funds. Now, this one's a little tougher to believe. This is the Dow. The first article was a defense of short selling. OK, now my defense, a defense.

I want to be clear. I don't want any hate mail. You know where I stand, I'll give you that in a minute. This is a defense of Robin Hood. You've got to hear it if you don't want to hear it, that's liberal stuff. There's nuance. Robin Hood, a trading app that disclosure used to be a sponsor of the show. They aren't anymore years ago.

But Robin Hood was a trading app. That shut down purchases of GameStop at one point, you were only allowed to buy one stock and investors were notably pissed because they're saying, wait, wait, wait. Buying GameStop would drive, GameStop would drive the price up, you're limiting our ability to buy it. Are you guys protecting the hedge funds? I don't know, but I can tell you it's not as simple. Again, an argument as Robin Hood bade us good.

It may be. And time will tell as we find out the facts of what Robin Hood exactly did. But we don't have it all yet. But we do have some things. Robin Hood's defense is this and I'll just read this from The Wall Street Journal piece where this guy gives the other side of the argument. The broker he's talking about basically Robin Hood and they're working with clearinghouses, Robin Hood basically has to deal with a clearinghouse that clears the trades.

So he says the brokers risk is asymmetrical if half of its clients, Robin Hood, are winning big by buying during a short squeeze. In other words, the stocks going up while it's short clients, the hedge funds are suffering losses they can't pay. The broker can't offset these gains and losses, but must pay the winning clients while possibly eating the losing trades. It's rare. It is, by the way, but brokers go bankrupt during market events like this.

This is really rare. He goes on. Brokers, therefore, are subject to strict financial requirements, including that they maintain large security deposits at the clearinghouses. When risk rises, clearinghouses raise their requirements even intra day. On January 28th, when GameStop dropped from four hundred eighty three dollars to one hundred and twelve dollars, the clearinghouse raised requirements by an aggregate seven point five billion. Brokers had to post that money to see whether or not their clients had it.

Now, without wasting a lot of time on the show, on margin and losses and bankruptcy, the core of it is this there's ways to buy stock on margin. So you use as collateral some of the assets in your account to borrow money from a broker to buy more stock. Well, that's great if the stock is going up, but what happens when the stock drops from four hundred eighty three to one 12? The answer is, that's a lot of money Robinhood is going to have to post with a clearinghouse, the clearinghouse might say we need more money, Robinhood.

And some of these other brokerage houses were suggesting they were running low on money, so it was more of a margin issue and things like that.

Where they were running out of cash to balance the books, so to say. Well, others have said, well, you raised a whole bunch of money the next day, they did Robin Hood. So was that really the story again, the other side of it? Or were you just protecting the hedge fund guys from losing any more money by stopping the retail investor from driving the stock up? Even more facts will tell. History will tell. But again, you have to know both sides and understand the nuance here before we jump to any easy, simple answers.

But may I suggest here that we're entirely missing the point? What do you mean missing the point is your point, it's your show. I'm giving you both sides so you understand the finances and the math behind it, and you don't jump to simple things like Trump said, drink bleach, that's just silly or a Trump being bad is hate speech. I want you to understand the nuance, because I think those arguments, while we flush them out over time and we find out if Robin Hood, what their real motivations were for shutting down a degree of trading in GameStop stock.

And when we discover over time what really happened with the short sellers and why they were dumb enough. To short, what, one hundred and forty percent of the float short more stocks than they could even borrow to pay back. May I suggest to you that the point here is really in us versus them argument, and that's why I keep talking about this, that that stuff will find out over time. But I don't want you to get lost in that.

I gave you that as some background. I think this is a bigger story. And I think the bigger story is that, as I said yesterday, the game is rigged, has been rigged a long time. And a whole lot of retail investors, great unwashed Americans like you and I are getting really pissed off that whenever these benefits tend to accrue, they tend to accrue to the big guys. And when those benefits get taken away by a group of retail investors that figure out how to take the knowledge and use it themselves, something that the hedge fund investors have marketed for while we know things they don't, when retail investors figure out something they didn't know, all of a sudden they want to stop trading on game day and make sure they protect the big guys who've been taken advantage of the system for years.

I think they're missing the point. The point is the larger us versus them.

And I've seen it exemplified in a number of spectacular pieces, small ask again, please go to my show notes and subscribe to my show notes where you can find the articles I discuss on the show every day you can access my newsletter, also known as the show notes at Bungeni dot com newsletter. Subscribe for free. I will send you these emails every day after the show and I strongly encourage you to read these articles yourself. Americans are not necessarily pissed because of short selling, even though I described that to you and Robin Hood shutting down trading, they're really pissed because they feel like the rules are great.

And the minute they benefit at the expense of the connected few, all of a sudden the SEC got involved. The Biden White House was monitoring the situation, monitoring what a bunch of working class Americans that made some money on a knowledge asymmetry that hedge fund people have been selling to their clients for years, that now it's a problem. It's exemplified by a wonderful piece. Listen, this piece is a tough, very tough read, meaning you're going to have to sit down a minute and read this one.

It's it's long, it's detailed, and it requires you every paragraph to stop and think it's in tablet mag. It's called the New Americans.

By David Samuels again in the show notes today, in a moment of anger, chaos and disintegration, they gave us hope the articles about the retail investors that beat the big guys. And he describes in this piece, it's very long, but worth your time. Why, again, this is not just about Robin Hood. Stop and trading. Shorts, short positions for hedge funds getting worked over, it's not about that, it's about other things. Here's a great paragraph from the piece about this circular shoulder massage circle of Washington, D.C. folks that go to work at hedge funds and Goldman Sachs who then go back into government for even bigger positions, who then leave government and go back to work to go for Goldman Sachs, where they get a bigger raise than they had before.

Who then suggests to their former friends where they used to work in the White House and in government rules that will benefit big companies and big, big hedge funds and big business at the expense of the little guy. This is what's bothering people, how the minute the little guy strikes back, all of a sudden the big guy, the connected few, the elite class, the bow tie wearing crowd gets really pissed off in the tablet mag piece. This guy, David Samuels, who suggests that there's a renaissance coming, a new America will come out of this.

He says, quote. And if you still don't agree, join me in considering the alternatives, Janet Yellen, Joe Biden's new secretary of treasury, took more than eight hundred thousand dollars in speaking fees from Ken Griffin, Citadel Capital, where Biden spokeswoman Jen Psaki brother works doing whatever hedge fund pros do with big time White House family connections do and no doubt raking in those big fat bonus checks for which hedge funds are famous. So which side are you on?

Yes. In other words, you've been told forever, as I've been talking about for the last few shows, and I think it's really resonated because getting a lot of nice emails about it. Sellout GOP, the RINO class of the GOP. And the basically the entire Democrat Party have entirely sold you out any nonsense mythmaking, whatever you're hearing, that the Democrats and the Republicans are in it for the little guy, they're there to boost the little guy, make for a more fair and equitable society is total B.S..

It's nonsense. Garbage, trash, Burdett. It's a dumpster fire. They are in it for their own jobs, their own power, their own jobs in these hedge funds and connected Wall Street companies afterwards, where they then rigged the rules with their former friends in government to make themselves rich, cut the crap that they're in it for the little guy. He talks about it in that piece.

I want to get to another piece in a moment, but, you know, let me get to my third sponsor and finish because it's epic times as another angle to this, how they're really pissed off that the GameStop crowd outsmarted the elites that have told you for years, give them the extra money, the hedge funds, because they know things that smelly people don't know. Well, the Somalis finally beat the. And now everybody's pissed because they're little circular massage, gwyther, all massaging each other's hair.

Joe Biden in the middle of the King massager. He loves massage and everything. Joe Biden, they've all massaged each other for years and they've made out like bandits. Now they're upset like the bandits they made out have lost their money themselves. We stole the money from others. You can't steal it from us. That's not cool. More on that in a minute. All right, today's show also brought to my friends that liquid ivy. Half of Americans report they struggle with daily fatigue.

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All right. Now showing you how people are generally pissed off again because they feel it's us versus them the minute they make money. What happens? Well, check out this Epic Times piece. Be in the show notes today. The establishment players strike back against GameStop investors. For what? For for what? For figuring out that the stock and game stock had been over shorted and that there was no way these guys were going to win. So now, of course, when the retail investors, you know, the great unwashed class makes money, what are the big guys?

Do they demand investigations? Check out this from the Epic Times piece, which is dangerous amid this trading frenzy is that retail investors have been chasing prices so far above any sane valuation and that many will end up nursing losses, said Jack Inglis, head of the Alternative Investment Management Association Haima, our hedge fund association, in a letter to members who have managed three point seven dollars trillion as of the third quarter. Well, when you go down further in the piece, you'll find out that a lot of these folks are saying, yeah, we'll help in any investigate.

Investigate the investigation. For what? You're worried what? That that the investors are going to make sane decisions with their own money. And you're saying, oh, well, we're all going to lose well, if they're all going to lose. What's the problem? Why are some of these people so eager for a government investigation into what happened again, because the bow tie wearing class gets really pissed off when they sell America on the whole idea forever, that they have a set of knowledge.

You don't. Therefore, you should give hedge funds your money and then they get outsmarted by a bunch of retail investors who figure out that a lot of times the stuff they're selling is a bunch of B.S., a bunch of air popcorn, a box air popcorn. There's nothing in the box but air popcorn. And they'll use their connected friends and government to get their. All right, let me move on. You know, one of the great thinkers of our time.

Is Victor Davis Hanson. And these stories all fit together today and again in this whole us vs. them theme and how I think there will be the good news, some great American renaissance comes out of this where people figure out they do have power against hedge funds. They do have power against organized government interests coming after you all the time. But it's going to require us overcoming the prisoner's dilemma. It's an economics problem. A coordination problem, we're learning to coordinate, we're learning to boycott, we're learning to tune out of Amazon and shut off your Amazon account, we're learning to fight back against organized moneyed interests that rig the rules against us.

We're learning. But liberals are learning to. They're learning that democracy and meritocracy are more of a threat to them than they ever thought. Remember, those are their two biggest enemies liberals, a democracy and a power of distributed power of voting masses. They want concentrated power with them and a meritocracy where you can work to get ahead. Liberals don't want any of that. Leftists definitely don't want any of that. They want power with the elites and they want you to shut up, you're the great unwashed, you don't know better democracy and meritocracy, the two biggest weapons.

This is another great piece. Going to be a lot of kind of deep thought in today's show because we're using great thinkers. One of them, Victor Davis Hanson, a piece. It'll be up in the newsletter again by that Kamalesh newsletter. Check this out. Read it. American Greatness. Victor Davis Hanson. Why are progressives so illiberal now?

I didn't read that wrong. Progressives adopted identity politics and rejected class considerations because solidarity with elite minorities excuses them from concerned for or experience with the middle classes of all races.

Now, that's a lot for a title state. Stand easy, steady, I will explain. This is something I've been trying to hammer home to my show audience for a very long time, forget the liberal hype that liberals are in it for the little guy. They're in it for the minority community. All that is garbage. Forget it. It's all nonsense, that cultural back. Hold on a second here. Call my friend, we got to call Joe on the cell phone.

Don't cut this because I don't want any unnecessary edits of the show. Poor guy gets cut out of the show if he can't hear me on the cell phone.

Liberals have hated two things from the beginning. They've always hated a meritocracy and they have always hated democracy or distributed power. Keep those two things in your head as we talk about this message. Well, sorry, that was a lot. All right. We're going to have to score. Sorry, poor Joe. Joe, if you're watching later on, my apologies. They love authoritarianism, what do you at? Oh, with Joe poor Joe getting cut off, just send them a text, tell them he likes to hear the show, I'm on the road.

Can I just give you can we just tell them, listen, we're on the road. Here's why the show looks different, because I've been in a lot of questions. It's not that a couple of people rode on in comment sections. They said, Dan, the show looks different. The camera quality is not as good. Here's the reason I don't want to make this show about my battle with cancer all the time. OK, you guys have lives and every one of our listeners have cancer.

You don't need to hear my horror stories, OK? But I'm on the road and I just I didn't say it because I don't want the story to be about the cancer all the time. I'm in Houston getting treatment at M.D. Anderson. I'll be here till Friday and then we'll be back in our normal studio. So what you see around here, too, where we can't pan the camera, it's just the hotel room. This is not my home studio.

We'll take a picture for you. I'll put it on my Instagram, all right, but we spent a lot of money to put that. You're supposed to feel bad for me, but we spent a lot of money to do this instead of just taking two weeks off, because I really feel an obligation mean that to you, an obligation to get the show out every day. These are tough times. I can't, you know, run away. But that's why I didn't say anything.

But the comments are getting to be people who think we really know what's wrong with your show. You guys skip out on the quality. No, it's just not the camera we have at home. So that's what's going on. By the way. And that's why Joe is on the phone. Just so you know, it's nice to be now lost. All right. Well, let me try one more time with Joe, because he does feel. But that's why, Joe, what happened to Joe, what happened at the bell may tell him he's going to be part of the show here.

Stand by. We will get back this Victor Davis Hanson peace. Hey, Joe. Yeah, all right, all right, you're on the show live. We're not cutting this out, so I felt bad. I told the audience what? Yeah. All right. Go back on mute for a sec. So you want to hear Joe gargling in the background, but thank you. Joe is, in fact back. So there's like two minutes you may have missed or explain what's going on.

Armacost, just so you know, they know now we're in a hotel studio, but that's the story. All right. Getting back this piece. Liberals don't buy the lie, they hate meritocracies, and they hate distributed power. Why do they hate meritocracies first, where merit matters hard work? Because most liberals I hate to say this, not all, but most liberals, ladies and gentlemen, are grossly incompetent and really not that smart. So they don't like a meritocracy.

They want an old school European aristocracy where their last name, Thurston Howell, the sixth, their last name and their gentleman. See, they got it. Harvard is enough to put them in an elite ruling class. They don't want to have to work. What do you mean? I got to go mop the floor. They've never mop the floor in their life, remember, might get a mop show. They've never gone out and been a charge of aisle four and a key food like I was when I was younger.

It was a big deal to me. Laugh all you want liberals I was in charge of file for it was the coolest job I ever had. I was honored after six months of stocking shelves when they said, Dan, keep food on Metropolitan Avenue and far sales, you weren't going to be the aisle for manager. It was a proud day for me, I'm sure. Liberals on the Harvard class, you got your C first. And how will the 60 second who's never mop the floor?

His life is laughing right now. Dan Bongino, proud of having mop the floor. You're damn right I am not using the Lord's name in vain. You are damn right I'm proud of Moppin that for. I'm not kidding.

It's not a joke. I don't mean it to sound, though, it's not a joke, I was proud of that. I'm still proud of that. I used to mop that floor now for they had this purple chemical and you put the shiny stuff on later and you buff it out can be too slippery. I don't want anybody to fall. I made sure all those cans were leveled. I made sure if we were down a product, that thing was ordered.

So you have to do it on paper back then.

My displays and our four, you know, you'd cut the displays, we had spaghetti in that aisle, too, so you had to be careful, remember in the old days before they came in and did it for you, these fancy displays back then used to cut them yourselves.

Missy, can you see the scars look, you watching on my shoulder doesn't work, but can you see those scars there on my lower arm? That was from cutting a display. When you cut and spaghetti, you got to cut sideways or else you would cut into the spaghetti box and have spaghetti, be everywhere. So you'd have to cut it in an angle, required a little bit of skill. So one time I cut and I missed.

Then I sliced my arm open and got about 30 stitches. You can see the video if you want to watch this. It's right. Sorry, can you see it? Well, you can't see it. Well, the scars are there. She can vouch for me. She's seen everything. For better or for worse, scars are everywhere. I was proud of that. But the fact that I had a map, a lot of flaws, I had a clean mausoleums in the cemetery, I had a patrol really dangerous streets in the seven five precinct of East New York.

As a police officer, I had to stand post as a rookie Secret Service agent in front of a door for 12 hours on midnight, staring at paint on a wall. And then I managed to succeed by doing that, by taking risks, leaving, running for office, starting my own business, investing in parler and rumball parler, be back, by the way. We will be a success that bothers them. That bothers left this because they don't want to have to do any of that, they think their last name, their D.C. connections and their Harvard CE is enough to put them into the new aristocracy to rule over you.

So a meritocracy drives them absolutely insane.

They don't want the smell is competing with them. They don't want people who mop floors in their class. They hate distributed power to constitutional republics and democracies because then you can vote them out of power. They don't want that. It dilutes their elite power, more power given to the people means less power to them, that is zero sum. So Victor Davis Hanson asked the question in this terrific piece. Well, why are liberals so illiberal or not liberal while claiming to be actually liberal?

Well, let's go to screenshot number one from the piece, because it describes perfectly this us versus them attitude and how liberals are the real them and where the real us, despite them telling you they're in it for us.

The liberal first screenshot from the piece, when small investors at Retied drove the pedestrian GameStop price up to well over 100 hundred times, it's worth forcing big Wall Street investment companies to lose billions of dollars. Progressive's on Wall Street. The business media cried foul. Oh, they hated that, folks. They compared the Reddit buyers to the mob that stormed the capital on January 6th. Wow, that's a strange one. One subtext was. Why would nobody dare question the mega profit making monopoly, so the Wall Street establishment, you're the nobody, the smells, the great unwashed.

The point that neither the retied day traders nor the hedge fund connivers were necessarily healthy for investment. Was completely lost. You get his point here. That, again, the them crowd, the connected Wall Street types, their Wall Street buddies, their D.C. buddies, their bureaucrat buddies, their regulator buddies, they were upset and they were suggesting this is a farce. These great unwashed masses that are buying GameStop stock are too stupid and for their own protection because they're going to lose a lot of money.

We need to stop this right away. Oh, by the way, if you stop it, we won't lose a lot of money either because we shorted the stock. So stop them from buying it and driving it up. Well, what's interesting is, as says Victor Davis Hanson. He's you know, it's fascinating, they're saying they're here to protect these guys from losing money if you just get involved. While losing money themselves. They're claiming that it's not healthy, what the retail investor did when what the retail investor in GameStop, all they did was expose the unhealthiness.

Of the hedge funds. You notice how that argument goes both ways, but the elites don't see it or just don't care. Again, they hate a meritocracy competition drives them crazy. Don't you dare compete with them in the knowledge game in the stock market. But Victor Davis Hanson goes on. It's not simply about GameStop. This is a great piece. Please read it. Screenshot number two, how again, liberals are quiet communists and a really illiberal at heart.

Many progressives professed early admiration for the supposed efficiency of Benito Mussolini, whose public works program Mussolini, who ironically was a journalist before he became a fascist tyrant. Public works program spurred on by his depression era fascism, fascism and his enlistment of a self-described expert class to implement by fiat what was necessary for so-called progress. Weird how liberals admire these fascists, all them really crazy.

He goes on. Even contemporary progressives have voiced admiration for the communist Chinese, his ability to override, quote, obstructionists to create mass transit, high density urban living and solar power. Early on in the pandemic, Bill Gates defended China's conduct surrounding the covid-19 disaster, suggesting the virus did not originate in a wet market was conspiratorial. Travel bans were racist and xenophobic. In contrast, had SARS covid two possibly escaped by accident from a Russian lab in our history as we might have been on the brink of war.

So screenshot number one, he talks about the game stopping screenshot number two, he talks about it. Why is it that liberals always have a love affair with tyrants? Mussolini, the Chinese government, communists, The New York Times, a love affair with the Soviet Union. Why go back to how I told you to view this segment from the lens? Because what do they have in common? The Chinese Communist Party, the Soviet Union, Mussolini's Italy at the time were not meritocracies.

They were a band of people, elites who took control and in some cases basically enslaved populations to their deadly ideology and no to. They were not Meritage, they were not democracies at all. They were authoritarian governments. Leftists love that because it gets the great unwashed out of the way, they can't work their way up through a meritocracy and they can't vote to change it. They win.

Here's the third screenshot from his piece. He says, quote, So it's understandable that progressivism can end up as an enemy of the First Amendment and intellectual diversity to bulldoze impediments to needed progress.

To save us, sometimes leftists must become advocates of monopolies and cartels, censorship and the militarization of our capital, I thought leftists were against those things cartels, monopolies, censorship, militarization of the capital of the. And I thought leftists have told us they're against that. Of course they're not. They are for anything that destroys a meritocracy and forces their power structure and doesn't distribute democracy to the voting class and the great unwashed or the benefits of their elite class.

They'll support anything. So how have they got in the middle class, they've screwed over for so long and providing the evidence to you every day now, how have they gotten over over time in getting middle class people? A lot of people in the suburbs voted for Joe Biden. How have they fooled allegedly smart people, wealthy suburbanites and others, middle class and upper middle class folks for years? How have they fooled them into continuing to vote for them, to put them into power?

Well, first, let me get to the fourth screenshot. Why? What's the point here? Well, that's a great point here, and I'm going to get this Fred Siegel book afterwards about how, you know, being a part of this progressive elite, how do they convince themselves they're on the moral right, the moral arc of history on the right side, he says. More commonly, progressivism offers the elite, the rich and the well-connected medieval pennants, a vicarious way to alleviate their transitory guilt over privileges such as a twenty thousand dollar ice cream freezer or a carbon spewing Gulf Stream by abstract self indictment of the very system they've mastered so well.

Progressives also believe in natural hierarchies, they see themselves as an elite, certify by their degrees, their resumes and their correct ideology. Our version of platonic guardians, practitioners of the noble lie to do us good in its condescending modern form. The creed is devoted to expanding the administrative state and the expert class that runs it and revolves in and out from its government hierarchies to privilege counterparts in the corporate and academic world. So how do they get away with this, how do leftists get away with selling their best line to the media that they're in it for the little guy while simultaneously screwing over the little guy?

Doesn't that create some cognitive dissonance? Doesn't that create some weight? I'm lying to people. I'm not in it for the little guy. I'm actually trying to screw over the little guy at GameStop and elsewhere that made money off my big guy friends. Well, they do it by lying to themselves. They do it by telling them, no, no, no, I'm part of the correct ideology, I defend Black Lives Matter. I've defended antifascists from antifa anti fascists, but they use fascist tactics, so they're anti fascist.

I don't want to have to think about the nuance. But this is important. And I'm going to read you a quote from the great Fred Siegel book, Revolt Against the Mass is a classic. This is an actual screenshot of my book because it describes, again, how left this delude themselves into thinking they're helping you and sell that line of B.S. to the media while simultaneously screwing you over in the middle class at the same time. Let me get to my first sponsor.

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They definitely don't want distributed power through a democracy or a constitutional republic because it takes power away from them. So how do they tell themselves? That's right. Crushing the middle class while simultaneously claiming to save them? Well, I've never heard it summed up any better than in a book by Fred Siegel, which we constantly drive up the book charts because you're a great audience. I have no financial interest and I don't even know Fred Siegel. But the book is amazing.

It's called Revolt Against the Masses. This is an actual screenshot from my copy, because I when I read great books and I see passages I love, I take pictures with my phone. To remind me of how deep and profound this stuff can be, he says in his book, The Contributors to Civilization in the United States, many of them Harvard men, were driven by resentment, resentment. I thought these Harvard elites were in it for you, the Obama crap, he says.

The so-called lost generation explained Malcolm Cowley was extremely class conscious. Like born, they had a vague belief in aristocracy and the possibility of producing real aristocrats through education, Cowley said. They went to Europe to free them.

Listen to this. To free themselves from organized stupidity, to win their deserved place in the hierarchy of intellect. They felt that their status in America's business culture was grossly inadequate, given their obviously exceptional intelligence and extraordinary talents.

Their simmering anger at what they saw as the mediocrity of democratic life led them to pioneer the now commonplace stance of blaming society for their personal feelings. Animated by a patrician spirit, they found the leveling egalitarianism of the United States an insult to their sense of self-importance. You have a comment over there as you can. Do you like that quote? You understand what he's saying here? Liberals hate a meritocracy because they can't compete. They're not as smart as you.

They're not as hard working as you. And they don't want to mop floors because it's beneath them. So they hate a meritocracy. They hate this country. They hate the fact, many of these liberals that you have to work to get ahead and they feel that their last name and their Harvard resume is enough to put them in an elite aristocracy where they should be granted power over you simply because of who they are and where they went to school, having to work for a living.

That's for the little people. That's for the Smedley's. That's not for me. So they hate it. They're angry at it. And they want to crush a meritocracy at every opportunity, they want to get you out of the way and stop your ability to vote their power away, they hate democracy in a constitutional republic. So how do they sell people, the middle class on the idea that they're in it for them, despite every single thing they do, liberal liberals crushing the middle class, how do they keep how do they keep getting in power?

Because they've learned the marketing business better than us. The marketing business on the Republican side is full of people who work at petroleum companies and elsewhere who really don't have marketing backgrounds because it's gasoline and other stuff.

What's the really market? But think about people who donate to leftist causes, the tech group and stuff. Think of their fancy Apple ads and all that stuff, they're really good at marketing people and selling the middle class on their own demise as they donate to leftest. Remember, Apple and all those companies are part of the elites. They'll never be damaged by the leftist. They're in it for big business. That's their thing. Thomas Sowell in his book Wealth, Poverty in Politics, describes how liberals fool the middle class into thinking they're in it for them while they quietly liberals hate the middle class.

This is genius from his book. He said in the most varied conditions in countries around the world, rather, in third world countries or an economically more advanced countries, and whether in countries where the majority of the minority has the higher skills, those seeking either the leadership or the votes of lagging groups tend to offer them four things. Here's the scam. Sound like the messaging liberals have used for years to get you to vote against your best interests, No.

One. Give them assurances that their legs are not their fault. So if you're struggling in the middle class, it's not your fault. Don't worry. Assure them no to. Assure that their legs are the fault of some advanced group that they already envy and resent. Liberals, the rich liberals telling you that you are poor or middle class because the rich have taken it from you while their rich, is one of the great ironies of our time. This is genius.

Number three, assure them that the lagging group and their culture are just as good as anyone else's, if not better. Don't you dare suggest that certain behaviors like not speaking in proper English are showing up on time. Don't you dare suggest that those might lead to certain failures in life. Don't you dare suggest that or we'll call you a racist. And the racist then will make another one. We'll protect you against the racists who are coddling you and not suggesting that, hey, learning to speak the English language in a in the structured way.

We all communicate with each other and showing up on time. Don't you dare suggest it's race. And meanwhile, suggesting that that's racist is racist itself. Because notice I didn't say anything about anyone being a minority. I'm talking about anyone, my daughter who happens to be Hispanic and white. My wife is Hispanic. I give her the same lecture. Is that racist to tell my daughter? No, Isabel, we don't say. And a thousand times because it doesn't sound professional.

You going to have to work in a professional environment. Do I not give that speech? Is that racist? When I tell my own daughter, who, by the way, is learning to speak like an adult show up on time, they'll tell you, no, no, assure them that that that any kind of culturally that then not that's their fault, not yours for. Assurances that what the lagging group needs and deserves as a Democrat, a demographically defined fair share of the economic and other benefits of society, sometimes supplemented with some kind of reparations for past injustices or some special reward for being indigenous sons of the soil.

That's what they do. The liberals all the time in the elite class will tell you your failures in the middle class, if they're failures at all, your failures are not your fault.

It's those evil rich as they are the rich making sure. You fail. Selling you. On your own demise? I'll wrap with this, I know we're going a little long today, but this story up in the show notes, too, because this story exemplifies exactly what I'm talking about. Liberals can't stand you. They hate democracy. They hate meritocracy. They hate the idea of competition and hard work. They will crush you, these liberal wealthy elites and their government buddies as they crush you to get you to believe the crushing is doing you some benefit.

Red State by Mike Ford Opinion piece These United States A Tale of Two Cities. Down in the piece, he talks about the current drama going on with Joe Biden's presidency, where he decided it would be a good idea with the stroke of a pen to crush the Keystone pipeline, which promptly wiped out 11000 high paying middle class jobs. I thought liberals and Joe Biden were in it for the middle class. So why did they just have them all fired?

From the peace, he says, nice job, Joe, tossing people out of their homes before they're even finished building them while you're at it, gut shooting the construction industry and the real estate market at the same time because some of the Keystone people got kicked out of the houses. Brilliant. And what his former secretary of state, John Kerry, have to say about these now jobless folks, he said what President Biden wants to do is make sure that these folks have better choices.

That they the people can go to work to make solar panels. The author says better choices build solar panels that's almost as tone deaf as the horribly trite and clueless learn to code trope used by leftist politicians as they almost gleefully destroy real jobs of real Americans who actually make this country function. By the way, those real Americans are the ones who pay the taxes that fund the government cheese programs that antifa BLM looters and arsonists and cop killers live on.

Never have I seen a line exemplify better what we're talking about today. We are the elites, the smart ones, we have knowledge you don't. Democracy sucks because you're too stupid. If you would just let us rule and stay in power, we will fix your helpless vacuum lives. Your you're not the aristocrats like us. So just shut up and let us rule over you. If you don't let us rule over you, we will crush your job. We will then crush your job and we will propose an alternate job that fits our agenda because we've been paid off by environmental groups and others and wealthy people who don't care about things like oil jobs because they can just put expensive solar panels on the roof.

So they hate a merit based based industry, petroleum. Oil and gas. People like to put gas in their cars, competition matters, somebody discovered, you know, a century ago that oil was a good way to power our economy. They don't like that. So the meritocracy has to go down. They don't want you to be able to vote them out. The environment is their excuse, using what step three of Thomas rules was step two or three, they're coming for you.

The environment's going to collapse tomorrow, your middle class life is going to be a smokestack in your house. We need to protect you against them. There's another group coming for you will protect you.

And we'll save you by making others pay the rich. Yeah, but you are the rich. No, no, not us. I'm not going to pay John Kerry. I'm talking about the other rich people who've made money in industries we don't like, like the oil folks who are taxed to death while we give a benefit from those taxes to solar people who'll be billionaires themselves because we like them. We just don't like the oil people because they are the dirty folks to.

Genius John Kerry talking about higher taxes and solar panels while moving his boat from Massachusetts to Rhode Island to avoid paying Massachusetts taxes because the taxes were too high. Gallivanting around the globe in a private jet, spewing CO2 all over the atmosphere while telling you your job has to go because there's a cleaner job for you in solar panels. Now you see why it's an us versus them, they hate America, they hate the democracy, and you're both the middle class is the meritocracy.

You made it to the middle class, not by your connections, but by mapping in that floor and making sure it was the cleanest floor in that supermarket. And someone promoted you to manager one day and then maybe one day as a manager, you buy part of the supermarket yourself. Or maybe you got a nice job as a manager in a bigger supermarket one day. They hate that. They hate that. They especially hate the fact that you worked up to manager for an oil company one day and a company that produces the energy we need to run the entire economy because they told you solar panels were better.

And then, by the way, when they leave their government jobs, they go work for an environmental activist group as the chairman of it, making five hundred thousand a year what it gig. All right, folks, thanks again for tuning in. I really appreciate it. Again, as I ask every day, please make Bungeni Report.com your one stop shop for your morning news. We aggregate the best conservative news stories of the day. We have it all broken down for you.

Economy, national security, culture, sports. It's an easy homepage like read the newspaper, go to Bungeni Report.com every morning and please subscribe to my Rumball channel and video. Want to get to one point five million subscribers. Please help us get there. Go to Rumble Rumble dot com slash Bongino Rumble Dotcom slash Bongino. Thanks for tuning in. See automotive.

You just heard Dan Bongino.