Episode-1790- Listener Calls for 5-19-16 — 27 Comments

  1. I finished high school one year before Vietnam was over, to sickly for the draft. Medically not qualified. I still remember. I had only lived in the plains did not look foward to jungle or fire fights.
    I still don’t like the idea of a fire fight.

  2. My dad is Vietnam aged and both my granddad and great granddad were imprisoned for shining. It was a part of life in the south long after prohibition.

    • Grandad, sure if you in Nam your Grandad was running around during prohibition.

      And sure people have been arrested for making and having shine all the way up to recent times.

      The point is after prohibition, no one was “running shine” because there is not enough money to warrant it, and that TV show is total BS.

      Takka Vodka is 9 bucks a gallon for 100 proof, now it ain’t on par with good shine but plenty of legal stuff is. Once you create easy open markets, black markets die, they always do.

      • I understand what you are saying about legal markets killing demand and supply chains. I agree with what you are saying from a logical sense 100%. I’m just providing some family anecdotal information that great granddad was still running a reasonably large money shine operation in Georgia as late as 1955. Now he wasn’t in car chases with the ATU then but he was stealthy enough not to be during prohibition either. They caught him at the still where you are a sitting duck.

    • I realize that “running shine” isn’t what it was during prohibition, but there is still a tradition in some areas for moonshine, for whatever reason. Maybe it’s the thrill of doing something the feds don’t like, or maybe it’s just history, but there’s still money to be made. Franklin County VA comes to mind…
      I remember hearing a sales rep from that area telling me that when he was a driver (1990s) after his truck was loaded they always added a few boxes of mason jars for “special customers.” Another friend of mine started a job selling cars in that area, and let some locals test drive a car. When the manager saw who they were he knew they wouldn’t see that car again. They used it to “run shine” for a week or two and it was found on the side of a road abandoned.
      I agree that the show “Moonshiners” is mostly BS. (According to chat rooms, those two guys from Spartanburg, SC get stopped by the cops all the time because even the police believe the show. LOL) But for some reason there are a steadfast group of people coking it, and a steadfast group buying it in large enough quantities that the feds still chase them down. Some people get really creative, like hiding their stills under their basements and running the exhaust through the house chimney. LOL I even knew people who got shot at for turning down the wrong road up in the mountains… “Get outa here, you revenuers!” LOL

  3. Something I find nuts about a lot of these states “legalize pot” is that you can still be criminally charged for having a pot plant.

    • You can but there is a LOT of looking the other way. I have a friend in Colorado, he is part of a local PD but is currently attached to the US Marshall’s office so technically for now he is a fed.

      I love what he is doing because they are working human trafficking cases. If there is a crime that we need people working that is one!

      Of course there is drug overlap. And at times confusion. He told me one story that led them to a mobile home out in the woods. They find the guy alone, not actually connected but he has four sad ass pot plants on his back deck, the guy is part blind and has cancer and growing it to “self medicate”. Cause he can barely afford his legal alternative. Taxes you know, and pot is not covered by health insurance LOL.

      He showed me pics I mean these plants were sad as hell. So did they take him in, or even call in local support?

      No my friend tells this guy, get this, your plants are in horrible shape, they are likely shot, you should start some more and learn how to grow things and tells him to go to and search for permaculture.

      Yea they are not all assholes guys. They left him and his plants and went back to hunting for people with real victim based crimes.

      I can’t tell you how much this made my day!

    • Here in Oregon, for recreational use, a resident can have up to 4 or 7 legal plants (I can’t remember which).
      That’s what Oregon says. Federal law hasn’t changed, but just like the gun issues, a lot of Sheriffs here won’t let a federal agent arrest anyone for it. A sheriff’s authority does trump federal authority in any county, the sheriff just has to have the balls to stand up to them. If he does, he is legally in the right. The only thing that would trump that would be martial law and then we’ve got bigger problems.

  4. Podcasts:

    Congressional Dish – EVERY TSPer SHOULD CHECK THIS ONE OUT!!!
    A weekly podcast that outlines the good, the bad, and the really ugly contents of the bills passed by Congress.

    Harvest Eating – Chef Keith Snow – Expert Council Member
    Wealthsteading Podcast – Jon Pugliano – Expert Council Member

    Farm Marketing Solutions – John Suscovich – Interviewed on TSP
    Homegrown Liberty – Been on TSP
    Permaculture Voices – Been on TSP
    Pioneering Today – Been on TSP

    Featured Voices – Been on TSP

    Financial Sense News Hour
    Speaking of Wealth
    Eventual Millionaire
    Entrepreneur on Fire
    Internet Business Mastery
    Smart Passive Income
    The Ziglar Show
    Social Triggers Insider
    Entreleadership Podcast

    Get Rich Education – Real Estate Podcast
    Creating Wealth Real Estate

    TED Talks

    And for fun I like Scott Sigler Audiobooks.

  5. Regarding Jacks remarks regarding Benjamin Franklin’s religious beliefs, I think Jack handled the subject fairly. Since I am not a Christian, I cannot make a judgement on whether Franklin was a Christian. His long-time student, Polly Stevenson, was not satisfied that he was fully on-board with Christianity, so as he was dying she was pressing him to make a clearer religious statement. She struck out on that one, but he did have a picture of Judgement Day at his bedside.

    (My sense is that Polly became tiresome to Franklin toward the end of his life. He left her very little in his will.)

    I drew a lot of information about Franklin’s life from Walter Isaacson’s book “Benjamin Franklin: An American Life. ” I liked the author’s biography on Albert Einstein, so I turned to the same author on this subject.

    Alex Shrugged

  6. I like the Tom Woods Show
    Brion McClanahan Show
    Gun Talk with Tom Woods
    Ron Paul’s Liberty Report.

    Better than watching TV. All are on Sticher

  7. The 80gb thing with Bitcoin Core is the block chain. Any of the “full” wallets will download and keep the entire block chain locally, functioning as a full bitcoin node. “Thin” clients will let you use bitcoin without having a copy of the block chain, as they connect to a full node elsewhere to verify transactions.

  8. Wanted to follow-up a little bit about the bitcoin wallet questions. Let me start by saying that bitcoin wallets discussions end up a lot like weapon caliber opinions. There is some truth to the opinions but there is also a lot of lore and emotion (not suggesting that was the case with Jack’s response – just that if you hang out in the bitcoin community long enough you will see a lot of religious debating on wallets mixed with facts).

    Before going into my recommendations lets talk about why we want a wallet

    1) We want it to ‘just work’.
    2) We want to avoid coin loss due to theft
    3) We want to avoid coin loss due to our error
    4) We want to avoid coin loss due to counterparty risk.
    5) We might want some level of privacy – this can betrue even if you are not attempting to hide things from the government for tax or other reasons. Some of us just want people that have no need to be involved in our affairs to be unaware of what we are doing.

    Lets start with Jack’s suggestion on coinbase. It does pretty much just work. I have had a few cases (none recently) with slower transaction times but other than that it does pretty much just work. The features jack talked about like authy help reduce theft risk. I use coinbase myself to buy bitcoin. I never ‘store’ any bitcoin there and generally do not use their wallet for anything. Coinbase does monitor where you send your coins. They will and have shutdown accounts for seemingly arbitrary reasons. They don’t (probably) do this because they are ‘evil’ per se but since they are so involved on the boundary of the banking system, they do need to comply with governement rules.
    So for example, I personally know someone who would buy coins there and then sell them locally to friends (and aquaintenaces). I am sure he was making some profit but the primary motivation was bitcoin evangalism. Coinbase shutdown his account. If you’ve got coins there if/when that happens to you it will be a problem. I am not suggesting they will ‘steal’ your coins but it could take a lot longer to get them than you ever planned. There is also counterparty risk. If they get hacked, or go backrupt, you don’t really ‘own’ your coins. It is somewhat like the difference between buying and holding silver yourself and buying it and having Goldman Sachs promise to keep it safe for you in a vault. In some ways you feel better because they probably have a better vault, but you will worry if they ‘really’ have al of the silver in the vault to cover everyone and worry that if they ‘melt down’ you would never see your silver. There is a non-zero risk of that happening with Coinbase. Early adopters who shunned the ‘hold your own coins’ got burned by a similar exchange called Mt Gox.

    Next, and I won’t go deeply into this. Bitcoin core. The 80 gig thing was real. It will certainly work. When running that wallet your computer (when that wallet is up) is part of the bitcoin network and that 80 gigs is the ‘blockchain’ that you will hear people talk about. There are reasons why running a ‘full node’ is nice. They don’t apply to you – at least not yet.
    I keep my coins in 1 of two places. For long term storage in a ‘safe place’ I use a hardware wallet device called a ‘trezor’. If you are buying 1 or 2 or 3.5 bitcoin (and can afford that level), do not look at hardware wallets but if you ever planned to hold a lot of bitcoin, they are a great choice. Since I don’ think this applies to the caller, I won’t go into details other than to say, yes your coins are safe even if the hardware wallet breaks as long as you follow some fairly simple strategy.

    For my ‘walkin around money’ – I ‘keep’ all of my bitcoin in a wallet on my smart phone. On android, I still recommend Mycelium. I don’t have an Iphone but I have friends who have used copay and bread wallet.

    *The most important thing* – you MUST MUST follow the wallet backup instructions with whatever ‘real’ wallet you pick. What I mean by ‘real’ wallet is one where you take responsibility for actually ‘holding’ your own bitcoin v.s. putting them in Goldman Sachs vault. There is nobody to help you if screw this up badly enough, you will eventually lose your bitcoin and no hacker, or service will ever get it back. Sounds scary…It is a little. In fact, I would say more people end up losing bitcoin from human error on their own part than from theft (Total guess).

    With modern wallets though backing up the wallet is very easy. Generally there are 12 words you write down on a piece of paper – one time when you first install. Put that piece of paper in a safe (or a couple of safes for more security). Don’t type it into your computer. With those words, if your phone dies, you can restore the wallet on a new phone and all your money will be there.

    If the company behind the wallet and the service that supports it folds tomorrow, and you have those 12 words, you can restore it on other wallet SW and still your money will be there. If someone steals your phone, you can use those 12 words on a different computer and you will be able to move the money to a new phone long before they hack your phone (assuming you pick an even minimally secure phone and wallet password).

    The important difference with ‘real’ wallets is you ‘own’ your ‘keys’ (which are really what is required to own your bitcoin. Mycelium can’t take your coin. There is less privacy than if ran your real full node but Mycelium can’t lock down your coins if they want to because even if they disabled your phone/wallet, you still can move your coins because you have the 12 word key.

    There are also some neat features on the near term horizon for mycelium to allow you to combine the phone with your own ’80 gig’ local node (on your own computer perhaps) for additional privacy. Not suggesting you go there, but if you ever do want to run your own version of bitcoin core, realize that 80 gigs is only slightly larger than what people ‘give away’ for free flash drives these days. I would not want to run a full node on my phone but on a modern computer, your browser cache is probably using more space than the blockchain. To be clear, this is not required to use Mycelium but it is a nice future optional feature that a lot of us are looking forward to.

  9. Hey Jack, just to set your mind at east about that 100 pounds of yeast. He was probably just exagerating. Nobody he’d seen had ever bought an entire pound or two of yeast before. It might as well have been 100 pounds. You make those kinds of exageration on your show on occasion. So now you can listen and enjoy the whole song. 🙂

    • I’ve been listening to Jack for a billion years and I never hear him exaggerate nothin.

  10. Hello Jack, I just wanted to say thank you for your answer on chicken pasture, you hit the nail on the head on the pasture forage mix and loved the idea of using chickens to due the work of improving my small pasture. I think I will use my current layer flock in a tractor to do so. I really do appreciate the input.

  11. Dan carlin is the shit. Hardcore history is amazing, and Common Sense is excellent, too.

  12. Hey Jack! Just wanted to let you know that Jack Daniels doesn’t buy yeast – they recycle. I highly recommend the $10 tour – adult beverages are sampled afterwards.

  13. One way I stock up on 90% (junk) silver is when I buy some silver eagles at the local coin shop, I ask for my change in pre-’65 silver coins. It may only be one or two dimes but they add up.

  14. Feedback on the bitcoin advice. For getting started with bitcoin using coinbase could be a good idea. However I would not recommend having large amounts of Bitcoin in an online wallet like coinbase . The reason for this is that although there may be a lot of security to prevent you from being hacked externally the coins could be stolen from people working at coinbase. This has happened with mtgox and more recently crypsy.

    To secure against this you can use your own wallet – I use multibit. Downsides with this approach are

    1. If you use your own wallet the first time you use it the wallet will often download some or all of the the blockchain (multibit takes 12gb)

    2. If you don’t backup your wallet and loose your pc you loose all your coins

    3. If you encrypt your wallet and forget your password you’ve lost your coins

    Hope this helps

  15. Bitcoin-core actually downloads large chunks of and sometimes the entire blockchain to date. That’s why the gentleman’s hard disk is being eaten up. You can have this stored on an external drive or secondary internal (on a desktop) via the preferences settings. I have mine dumping to a 6TB internal that’s in my old mac pro tower from 2008. Those drives are relatively inexpensive these days (internal SATA drive in 6TB is $225ish and you can get smaller).

  16. Just wanted to give my opinion of my Ram 1500 with the eco diesel. In short I like the truck and after doing a lot of research it was a good fit for what I will do with it. A little more on the truck: 4X4, full 4 door, 5.5 ft bed, tow package, air suspension. I got it in Oct 2015 and so far have averaged about 25 mpg in mixed driving for the first 12K miles. I did reject Jack and Steven Harris’ advice and re-programmed the truck (previous episode).

    I would do you homework if you do modification as well. As a prior diesel mechanic and now a professional engineer I agree with their warnings. That said, I am now getting about 30 mpg and have improved towing, and have about 5K with the tuning.

    I use the truck as a daily driver on my 50ish mile commute. On the weekends it is used for typical homesteader / farmer / weekend warrior tasks on my 70 acre farm. This include towing a couple of trailers; the larger is a tandem axle 16ft I use to haul a tractor with backhoe. That is also about the maximum I would recommend safely pulling unless you are in really flat country.

    The air suspension is actually well worth the extra money. It will self adjust to the load providing for better handling and economy when under load. It also lowers to allows for easy entry (I have a 5ft nothing wife, and small son) but, will adjust to a taller off road height allowing more clearance; handy when I cross the creeks at the farm. My biggest complaints are the poorly designed key fob and the crummy stock tires.
    If you have any further questions let me know. It is a big purchase and we have to help each other out.