Jason starts the show with in-house economist Thomas as they talk about New Yorkers voting with their feet and leaving the state. They talk about what that means to the real estate market there. Later on the show, Jason brings on guest Nobu Su, chairman of the shipping company Today Makes Tomorrow and author of The Gold Man From the East. They talk about the 2008 financial crisis and when Nobu Su was victimized of $5 million by Western bankers. He goes on to talk about he is suing those institutions and hopes for others to do the same.

Investor 0:00
I’ve been investment for about two years. I have six investment properties. Why in Kansas City? Three Memphis and 22 rock? Oh, I started investing because I listened to Jason’s podcast. I said it makes sense to me. So I make a very quick decision. I think maybe one month I decided to attend the meeting masters event back to some six thing. And then yeah, I started to buy properties since then, before that, I’ve been trying to do some study on stocks, but doesn’t make sense to me. So I hold a lot of cash I didn’t deploy to the stock market. So finally, I get to the Tetons podcast, everything he said. makes sense to me and I have a lot of agreement with he his opinion. So I decided to kick came to the event in the Masters And then I decided to make the investment. I think the first thing is real you have a real good return. It’s not a scam. But if it’s true, be careful. What I recommend is joining a network like a chasis network and get some education and then start to buy the properties to wait to learn.

Announcer 1:23
Welcome to the creating wealth show with Jason Hartman. You’re about to learn a new slant on investing some exciting techniques and fresh new approaches to the world’s most historically proven asset class that will enable you to create more wealth and freedom than you ever thought possible. Jason is a genuine self made multi millionaire who’s actually been there and done it. He’s a successful investor, lender, developer and entrepreneur who’s owned properties in 11 states had hundreds of tenants and been involved in thousands of real estate transactions. This program will help you following Jason’s footsteps on the road to your financial independence day. You really can do it. And now here’s your host, Jason Hartman with the complete solution for real estate investors.

Jason Hartman 2:13
You might recall when we had Meredith Whitney on the show several years ago, talking about her book, the state of the states, and talking about the migration path of people moving out of high tax, highly regulated places, mostly politically liberal places, to places with more business friendly environments, lower tax environments, and in many ways, places that reflect one’s own political views, largely held by the middle class. That’s what we’re going to talk about today for a few minutes. We’ve got Thomas, our in house economist here, Thomas, welcome back. Yeah, good to be with you. Thanks. So you pulled up an interesting video about people leaving New York, the Big Apple ain’t what it used to be. gas. And let’s just listen into this for a moment. Oh, people are leaving New York faster than any other state. According to the US Census Bureau, whose channel 34 is Morgan MCI explains the numbers and

Thomas 3:12
what elected leaders think the reason is, New York is losing people and it’s been following this trend for the last three years. According to the US Census Bureau Report. New York is one of nine states that lost population last year with the most people over 48,000 leaving New York but it’s upstate seeing the biggest decline since 2010 42. of the 50 upstate counties recorded a loss of population and because of this outmigration, New York is likely to lose two congressional seats in four years. A spokesperson for the governor sent me a statement today that seemed to cast doubt on the accuracy of the census saying a complete and accurate count is critical for New York to receive proper representation in Washington. The state is committed to being a full partner and robust outreach effort so that every New Yorker is coming It but what are officials actually saying? Well, the governor a few months ago pointed to the weather as a leading cause people will make demographic choices about where they want to live. Some of them are climate based. Somebody wants to move to Florida because they want to move to Florida.

Jason Hartman 4:15
I mean, that’s not an excuse that’s been going on for decades, right? That’s nothing new and New York grew during times on a bad bad weather, and it’s got the same weather now. But what’s interesting and really scary for a state is losing two congressional seats in I think they said then maybe the next three years, Thomas, that’s a big deal, isn’t it? Yeah, I think it’s funny. The first thing they jumped to is losing to congressional seats. It’s again, a, I don’t know sometimes in these places that lose literally losing people, they think of the politics side of things. You know, from my perspective, losing people, right that affects real estate prices is one of the most important factors in determining real estate prices. Obviously weather matters and taxes matter and Water, water, water prices, energy prices. Yeah. But overall, its population. If you have people there, and people coming in, where you’ve got an in migration place, then prices will tend to go up and rents will tend to go up. If it’s an out migration place, prices and rents will go down. That’s, you know, pretty much the way it works. There are other factors, but that’s the those are the main ones. Right? Just like you said, Yeah, I agree. And so the question is, is it causation or correlation, right? That’s, that’s always something to consider. You know, you’ve got these causes when they try and tax everybody in every which way they can, you know, eventually people are just going to get fed up, and they’re going to go and that’s what they’re doing. So let’s keep listening. While at the same time we lead the nation and out migration people leaving New York to other states.

Thomas 5:55
I also spoke with soon to be Senate Majority Leader Andrea Stewart cousins who listed a few reasons as to why not as many people are staying in the states where there is the economy or or affordability keeping taxes low and and and jobs growing. You know New York will be as if I have anything to do with it. The place that people will be coming to in droves over the next few years. haha

Jason Hartman 6:21
that’s funny. Keeping taxes low for That’s hilarious. I don’t think people are coming there in droves there they’re looking for escape. The spin people put on things sometimes. Yes. The spin they put on it for sure. Yeah, absolutely.

Thomas 6:38
fourth highest behind only California, Texas and Florida in Albany. Morgan, MCI news channel 34.

Jason Hartman 6:46
Interesting stuff. Thomas interesting stuff. So for real estate investors. You know, I think the lesson is kind of obvious, right? invest in business friendly, low tax and You know, I always say it, Thomas, landlord friendly places. New York is definitely not landlord friendly. Even if the numbers work, even if the rent to value ratio has worked. You’re still in a landlord. unfriendly place, aren’t you? Yeah, you, obviously you’re the best at it. definitely true. Well, there are people better than me for sure at this real estate investing game, but you know, I do. Okay. I’m okay at it. And then, you know, you add to this, the federal tax change, and the salt, the maximum deductibility of the salt taxes, the state and local taxes. And that’s really a recipe to push people out of these, these places and sort of everything that they said about New York except maybe for weather applies to places like California also, doesn’t it? Yeah, that 10,000 cap, that is certainly causing some individuals to move from higher tax places where they are they used to be able to take right their state and local taxes off of their federal income tax return and now they can they’re capped out makes a big difference. That’s for sure. Well, we’ve been chronicling this stuff for years. That trend just continues. So we’ll continue to monitor it and Thomas, thanks for joining us on this and thanks for the video. Talk to you later.

Jason Hartman 8:28
It’s my pleasure to welcome Nobu Sue. He is one of Asia’s richest businessman. He is founder of Nobu store, and Chairman and CEO of today makes tomorrow otherwise known as TMT great name, which during the 90s was one of the world’s most successful shipping companies, until the Royal Bank of Scotland sunk it ahead of the 2008 financial crisis. He’s author of the gold man from the east and the subject of the acclaimed documentary the outsider dubbed as the real Wolf of Wall Street. Because of his appetite for financial revenge, Sue has launched a $12 million lawsuit against JPMorgan Chase and a New York Federal Court. It’s just a fascinating story, Nobu. I can’t wait to hear more. Welcome. How are you?

Nobu Su 9:15
Fine, thank you.

Jason Hartman 9:16
Good. Good. It’s good to have you. So are you currently in the lawsuit with JPMorgan Chase? Or is it what stage is that?

Nobu Su 9:23
Yes, still ongoing because the JPMorgan Chase cannot give this sufficient information that they didn’t start my $5 million. And as it did, because they received money from RBS, after we opened the first money or $5 million, the budget to the obvious account dismissed it disappeared and send to the JPMorgan Chase na, which means American head offices.

Jason Hartman 9:49
Okay, so the issue is an issue of disclosure that when you deposited $5 million, you didn’t know where it was going. You thought it would be in the hands of RBS parents You chose them to be your bank and you liked them. However, JP Morgan ended up with your money. Is that the claim?

Nobu Su 10:06
Yes. So we asked them to JP, move on to the priests read the money, or explain to us where the money went. And so far, they couldn’t explain properly until today. Okay. And we are waiting for the code decision. And it’s it’s so long they haven’t been making digital

Jason Hartman 10:24
yet. Oh, yeah, of course, that the legal system, the wheels of justice move very, very slowly, as we all know, sadly, that’s the way it is. Did you actually lose any money? Or is your claim simply a claim that there’s not a proper disclosure going on?

Nobu Su 10:38
So we start to look at the older data and the actually a big data analysis, and we found out that there’s another second payment to 50,000 also looks like disappear to Bank of New York. And then sub payment and interesting happened when the northern log went burst. The RBS sent us the difference with code count. said that the President made the money to their special account, which is the banks on banks account. So we end up to remedy the over $490 million to the RBS on account. And it does mean that the obvious and JPMorgan use my money for their advantages,

Jason Hartman 11:16
but are all banks using your money to their advantage? Are you saying it wouldn’t be on demand? Like a demand deposit? You couldn’t get it back immediately if you needed it because they were doing something else with it or what? I’m just trying to understand what is the real damage here? Okay,

Nobu Su 11:31
so that was actually one day damage because they bought all my money, put the money to the New York and what we believe is called a PDC f scam. This is the special Ward hank paulson decided to install for the giving the money to the banks. It’s got a prime, any PDC F. So if you bring the money to Central Bank, you can receive the 25 tax money from the central bank. That is how the banking system works. It’s called money. Creation.

Jason Hartman 12:00
So this is an issue of fractional reserve banking and the Federal Reserve scam more than it’s an issue of just these banks. It’s this is just sort of a proxy for what all banks are doing, right?

Nobu Su 12:12
Yeah, basically, when the 1917 when, you know, last child and all these people get together created a federal banking system, they said, Give money wonder to the bank, the bank will lend you 25 times out of 10 times so you can get the money to pre lend to the people so that people can enjoy that’s basically commercial banking system right now happen it was an aide was hank paulson and the team decided to give the money to the banks, so that if you bring any any monetary instrument, we give you the money so so that they they could receive the money so that the whole economy not went bust. So for that you need to own money, but the bank didn’t have any money so they use my account and receive my $490 million cash as their own. Equity and they could create basically a billion dollars. Right? Right,

Jason Hartman 13:03
right. This is how folks and we’ve talked about it many times on the show how in this odd, extremely complex game, that almost nobody can figure out not even experts. how money is lent into existence. And it is absolutely shocking what goes on. Yeah, it’s such a deep subject. It’s crazy. But say anything you want about it? No, boo.

Nobu Su 13:26
Oh, yeah. Because at that time, there was no money in the bank. So banks need to create the money and there by counting and you know, KPMG, Deloitte, the PwC has Yeah, or this big force, they have to tell them that they are doing right so that each quarter they have to move the money around and using the people’s money, such as our accounts and our cash to create the billions. And then after that, there’s money now the people in Chicago One hour later on in Singapore, they bring money back in my cow, and they do the same thing again. So thanks so much. We these things, and we find out all this scam after the

Jason Hartman 14:04
10 years, it’s truly, it’s truly mind boggling. You know, there’s an old joke and it would be funny if it wasn’t so sad. If you have a gun, you can rob a bank. If you have a bank, you can rob the world.

Nobu Su 14:17
So so so that’s why I wrote now the second book and the sad book is on the way, basically, the quantitative easing over the six years give the unlimited money was the neighbor disclosed into the eight. And if you look at the $90 trillion are printed out, it’s proved that several hundred 70 billion of the top or the seven video given by the team with the guys and about nothing. So now today, we have so much debt in all of the people in the ward. I don’t know how we’re going to pay back.

Jason Hartman 14:46
What does this mean for the future is another crash around the corner is a debt Jubilee around the corner, or will things can they just keep playing this game for 3040 5100 years?

Nobu Su 14:59
Yes. That’s what did It had audited the Federal Reserve’s the system, but it’s very big. So why do we are seeing now is there now is a new Mr. Power just raise interest rate? No, no, no, no, now they stop. And so because now all these clean up, so as long as interest rate is moving up and down, we have the issue of the issue. So, in my opinion, what the central bankers and all these famous bankers has no accountability and they printed 90 or 50 or $70 trillion. They should come back and say, I’m sorry, I printed so much money and secondary if that money of part of it was used to spend for physical policy, such as building the houses for people, or like a year of best people have the apartment or the giving them some weather, you know, favor. I think that’s that’s what’s much better. So we are now seeing the huge social crisis and unfairness in the world. And with this The current France, UK and the oldest America, I think this is happening.

Jason Hartman 16:07
So you’re talking when you talk about the yellow jackets, you’re talking about what’s going on in France, right?

Nobu Su 16:12
Yeah, I was there. I participated in this yellow jacket. As a foreigner. I didn’t see any foreigners, right. And I didn’t have the yellow jackets, I wear the gold jacket. And all of them loves me so much. I thought they’re gonna attack me because I look like a witch. But no, no, no, that’s why you came here. And I was interviewed by the one he asked me and I asked him why you’re here? He said, No, no, no, I’m generous. I couldn’t see anything. But I look at his eyes. He was very passionate to the people, you know, jack.

Jason Hartman 16:43
So do you have any recommendations for investors who are listening? What should they be doing with their money? You know, I asked you a moment ago can this just go on for 10 2030 4050 100 years it you know, it’s kind of this game of sort of kicking the can down the road. Eventually everything falls to a real economy. It has to, it can’t go on with his fake smoke and mirrors economy forever. But it probably can go on for a lot longer, right? Maybe not, I don’t know.

Nobu Su 17:12
It’s just a now with my books and what I’m telling the people. I’m economist, actually I study economy. And I look at all the world traveling all the prices. For me, it’s very become very, very simple. A lot of people are unhappy, and they have to go to boat because the boating is your only right and the refined them is the key to change this this system. So for example, in Taiwan, we have the referendum and that they can change the policies in America in London in France, it’s very difficult to handle it we’ve seen is the Brexit 49 versus 51. And the country is now in the tok tok tok tok tok forever and this energy and the money spent is looks to me the very very funny from outsiders. So why do we need to do is a boat to the right the production And ask them to speak up.

Jason Hartman 18:02
Okay, so then you believe that the politicians on the right have a better solution? Is that what you said? Or you have the right to vote? What were you saying? I didn’t understand.

Nobu Su 18:12
Yeah. What I’m saying is I’m

Nobu Su 18:15
not seeing them, right. It’s getting too busy talk everyday about their case, they have no time to see the world, and they don’t get the real information. And the media is basically to give you the awesome pictures and there’s no second opinions. So they also they don’t know where the problem is. You don’t have a problem. Just talking nice words and talk about the policy and concert is nothing we change. Right Becka, we need today is the find the right politicians or right people to talk about this. Now, if you talk about the future, where to put the money, I’m not going to scare the people, but basically you have to believe in what you put your money, the risk is getting higher and higher. That’s I’m glad it’s happening.

Jason Hartman 18:56
Talk to us a little bit about your career if you would, and your incredible Success. I mean, this meteoric rise in the business world that you’ve had over the years, what is Nobu store? Is that like a snapchat for digital documents? Is it kind of an idea?

Nobu Su 19:12
Yeah, I can decide to in 2009, I had the US patent and many partners about this. Basically, I went Amazon came with Amazon bookstores, I should know that I won’t have the book immediately. So I had a button. Basically, you can download digital documents and read immediately, and this is going to disappear. And why before it’s disappear. You get the real book. So it’s got a seamless delivery. And this kind of snapped at ideas. So I decided to put it in the one example to show in w store. Because Amazon, actually we this is my first time become an author. Today, the many osis has paid a 50 to 70% of the income to the Amazon, so they buried the money for those.

Jason Hartman 19:53
Amazon is just taking over the world and they’re crushing everybody. They’re crushing their own sellers. They’re crushing obviously, they’re just Destroying the retail business around the world. It’s just too concentrated the power, isn’t it?

Nobu Su 20:05
Yeah, it’s called Amazon. Is that Amazon?

Jason Hartman 20:07
Yeah. Yeah, absolutely. So why does the digital document blow up if you will, after its downloaded? What what’s the point of that?

Nobu Su 20:16
My idea was that, you know, in the early stage, you you, you have a digital digital and it stays there forever. So the our the actually cost to maintain the data is becoming very, very expensive. So the if it can be the vanished and so the we have a real real you mentioned, how do we decided how to control the data. So the data was my ideas, but actually, in terms of the books, and media and journalism, I think that if it’s going to the advantage in certain times, people can talk more real stories, and they are confident that they can send to somebody and after seed, it’s like, comics, right?

Jason Hartman 20:59
This would be very good. Good as a way to communicate and in an era of government oppression, especially or, you know, to circumvent the government, I mean, so that people can have the right to communicate what they want and not without fear of reprisal. I could definitely see an application there, right?

Nobu Su 21:16
Oh, yeah, there are many applications. And I believe that we are now able to control the data in our hands, not by the data to be controlled by the Google or the Amazons. And it’s very scary now, even in in the China or even in now in the other countries all over the world. They stolen the data and sell the data. I think it’s very, very bad.

Jason Hartman 21:37
Yeah, I think I’ve said many times that I think Google and Facebook are the two scariest companies on Earth. I mean, we all love and use their products probably I know I do, but they scare the heck out of me. Any any company that controls 60 to 70% of the search results on planet Earth. That’s just insane. They either need to make their algorithms public and open source so people can see why they’re seeing the results they see where they need to be regulated like utilities, or they need to be busted up under antitrust laws, or maybe all three of those things.

Nobu Su 22:13
Yeah, but that’s happened. This is 1999 dot com boom. But now, also, I look at the other side token, I’m fighting with the all big institutions and the banks and the politicians, whoever it is, since they have the depodesta, the fake news or allowed the one side opinions, it’s now easy for us also to search and build up our theories. And now the story because there are poverty facts they brought in whether it’s right or wrong, it cannot be disappeared, so that we have to be smart enough to understand how to understand the real information and the fake news. Right? Yeah,

Jason Hartman 22:49
absolutely. Any tips on that? How we can understand that it’s not that easy.

Nobu Su 22:54
Oh, that’s a experience.

Jason Hartman 22:56
Just life experience. Good. Take us back and tell us about your career, how did you start out? How did you get into shipping? And what happened with RBS sinking your company in the financial crisis there?

Nobu Su 23:09
Oh, it is an awesome story. Please read my book. Okay.

Nobu Su 23:13
The one book second book second was called the dynasty Escape is talk about the Taiwan political parties move the money from Taiwan outside. And the sad the book is called the Goldman from the east and the west and it’s actually talked about the what behind the finance crisis and more to come and

Jason Hartman 23:30
in you cannot get these on Amazon, right? They’re not available on Amazon.

Nobu Su 23:34
No, I don’t want to go to Amazon because it’s easy thomism but I wanted people go to not go store and we are still the making the model for the people available easy to use, but that the age very interesting to pay a little bit money and read it because since it’s going to banish it. People have to read it as soon as

Jason Hartman 23:53
soon as possible. Well, that’s good education. Actually, that’s another good point about all these techniques. You know, the censorship is just huge I know that Prager University is suing YouTube and Google and you know the parent company but everybody you need to go to Nobu dot store right and OB u dot store not.com dot store right now the adults thought that’s it, no boo. So www dot n o b u dot s t o r e, Okay, calm that’s where they’re available. Okay, I want to make sure people know that okay, your career just in a nutshell of course the books are available

Nobu Su 24:28
though I’m very creative. So sometimes people don’t understand understand me. So now I’m working for the new technologies is the increase that increasing the organic fish and the collecting the plastic on the oceans. And I think my invention we solve this problems with a very limited cost because this is a two big issues in the earth that we need the good fish to eat, and plastic to be collected so that the fish are not it plastic and we are safe.

Jason Hartman 24:57
Okay, but that’s what you’re working on now. How do you Start a shipping company

Nobu Su 25:03
my father with a small family business and I was I grew up with my father. So I know that I think I was Bray and I know the ships very well but most people don’t know how much I know.

Jason Hartman 25:16
Okay, that’s good. So was the shipping business then Nobu store and now the new projects you mentioned right are those I mean I’m sure you’re doing other things but are those six

Nobu Su 25:27
is gonna I think that we are lucky to the build up the good business, but then we became the target because his know his family business was actually the targeted like Mr. Madoff like other people and there if you look at the billionaires was targeted by the central banks in the finance crisis. And now it’s more some of them becoming a one by one. They never targeted the professional the hedge funds or their their their people because they’ll find out so I was outside. That’s why I look at my outsider you can find it interesting things.

Jason Hartman 26:00
Yeah and the documentary the outsider as well. Yeah, good stuff. Yeah. Nobody want to give out any other websites or is it just Nobu dot store?

Nobu Su 26:08
Yeah, there’s a my website go Nope. So in Twitter, and sometime I put my opinions, but the was my book is very, very becoming to oneself. I have pages in Toronto. So, most most now, economic professors like to read it, because all this crisis or I don’t want to say crisis last 10 years, you know, there’s so much money was printed, but that economic never get better. This is a there must be the reasons because you print it so much money, why we cannot benefit and the people just complain but actually, there was a reason so please read my books. Good stuff. Well, no, busuu. That’s Nobu and s you and that’s where you can find that personal website as well with opinions and so forth. Thank you so much for joining us today and good luck in the lawsuit. Please circle back with us and let us know how that turns out. Okay, thank you very much.

Jason Hartman 27:06
Thank you so much for listening. Please be sure to subscribe so that you don’t

Nobu Su 27:09
miss any episodes.

Jason Hartman 27:11
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