2:06:23 Alex, it's just like you said, the globalists, the elitists, they have their club, their cabal, and even the nouveau riche, even people who have money, they're not necessarily part of the globalist club. And they don't want you to be part of that club, and you can't be. So, but here's the thing, is if you do have any assets at all, this is where I want to talk about trusts again. Trusts were the first thing that existed in this country before corporate law existed, trust law existed, that allowed for the uber wealthy and even people with any money at all to protect that from their creditors, to protect it from other people, and to maintain it for their family, right? And so here's the thing is, it doesn't matter if you are nouveau riche, if you are, you know, just have
2:07:09 You little old property in the middle of Virginia, whatever you got, if you have any property at all, you need to have that protected. Because here's the thing. During your lifetime, there will be times when the state and the government possibly Most of the other people are going to come after your assets and try to take what you have hard earned by the sweat of your brow. And so here's the thing is, if we can separate you from your assets, like I said before, the trust instrument, which there is hundreds of years of trust law in this country that we can go back on and use.
2:07:47 That's one way to protect anybody out there who is little, big, it doesn't matter. If you're a little guy out there saying, well, hey, this sounds great, but I don't think I can afford a truss. Remember, we are the McDonald's of truss. We pump these things out. You absolutely can afford one and it will behoove you to do it because Let me tell you what you can't afford is having your hard-earned money taken from you when you don't have it properly protected. So a trust allows for, there's several different types of trust instruments out there, and it's bespoke to what each client needs, but what in general the two
2:08:23 Big goals would be to pay the least amount of taxes. Yes, but also when we're paying the least amount of taxes That's we also want to keep our assets protected keep those assets protected from the government protected from any creditors protected from Anyone who may be after your money and that way you can decide what happens to it. You can spend it You can give it all to your family. It's your money. Don't let the government or anyone else have a claim to it So let me explain this a little bit A trust, and the reason trusts have existed for even British common law before this country was created, is because a trust is a very informalized entity as opposed to a corporation, an LLC, a partnership even. So what a trust is, is simply, in its most basic form, is an agreement between three people.
2:09:16 A settler, that means the person who's providing the money into the trust, a beneficiary, the person who receives it, and the trustee who has control over those funds. And that is the most important part because according to the tax code, even if you receive income, it is not considered taxable income to you until you have dominion over it, until you have that control. And so if we can separate that out by you still have access to the money, but technically there's a trustee that is in control of it. That is how all these elitists, all the people that you can, I mean, Zuckerberg, all the other people that you can think of. And Tyler, spend a few minutes on the history of trust. I know some of it, I know you know more. It's totally legal. They just don't want you to know about it. Absolutely, Alex. So before corporate law was developed, the idea that people wore hats
2:10:04 having massive amounts of gains in the early 18th, 19th century in this country, the railroads, for example, the way that people were able to maintain this wealth and pass it down generationally and create ruling class families in this country is by creating trust instruments that provided that their money would skip a generation to evade the you know, the, excuse me, inheritance tax and stuff like that. And so basically in this country before corporate law was developed around the time the IRS was developed, it was if you had a successful business, you had a trust that it existed in. And I'll tell you a little secret is that is absolutely true today still. Okay. Well, exactly. The standard oil trust, the Rockefellers, the Carnegie's,