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Judge James Boasberg, who unlawfully seized control of the lawsuit against President Trump's Alien Enemies Act proclamation and lawlessly ordered flights deporting alien Tren de Aragua terrorists in international airspace to be turned around and returned to the United States, was checked hard yesterday by the Supreme Court in a 5 to 4 decision that found Boasberg never had the legal authority to hear the case at all. Despite this, and even after the SCOTUS ruling of no jurisdiction over the case, Boasberg is lawlessly continuing this afternoon with a contempt hearing against the Trump administration, demanding that they show cause why they should not be held in contempt for failing to turn around the planes as demanded. How does Boasberg continue to assert authority over a case he never had authority over in the first place? Good question, and what we'll talk about in today's show. @Amuse article on X: "Who Watches the Judges? Congress Must Investigate Judge Boasberg"https://x.com/amuse/status/1909332637367648287
Food safety isn't just about what's on the plate—it's about protecting everyone who gathers to share a meal. This week on Eating at a Meeting Podcast LIVE, join me as I chat with food safety expert Francine Shaw, CP-FS, FMP, about one of the most contagious viruses threatening events today: norovirus. Francine's expertise spans the globe, with projects from Peru to Dubai. She's worked with household names like Target, Marriott, and McDonald's. From keynote stages to consulting with public health departments, Francine, founder and CEO of Savvy Food Safety, Inc., co-creator and co-host of Don't Eat POOP! A Food Safety Podcast, and author of “Who Watches the Kitchen,” has made it her mission to champion food safety in every corner of the industry. With norovirus outbreaks on the rise, especially during the busy event season, it's a crucial topic for meeting planners. Did you know that norovirus spreads easily through contaminated food, surfaces, and direct contact? Unlike COVID-19, hand sanitizer alone won't cut it, so proper food safety protocols and cleaning measures are essential. In this episode, we'll discuss: How norovirus spreads and why it's so persistent. ➤ Practical strategies for venues and planners to reduce risk—from the kitchen to the buffet line. ➤ The key questions you need to ask your catering and venue partners to ensure safe practices. ➤ Steps you can take to safeguard attendees and staff, including cleaning high-touch surfaces and promoting thorough handwashing. Whether planning a corporate conference or a community gathering, this conversation will equip you with the tools to prioritize health, safety, and trust in your food and beverage experiences. Make food safety the backbone of every event, not an afterthought.
In this episode of Don't Eat Poop!, our hosts Matt and Francine are talking about a very important but also potentially controversial topic: how the significant changes that are happening with this new administration in the USDA, CDC, FDA, and other U.S. agencies that oversee food will impact food safety and the lives of American citizens.Tune in for this much-needed discussion.They bring the information they've gathered from talking to a lot of people in these different agencies and focus on the actual policy implications, opportunities, and issues rather than simply the politics behind it all. They also share what they believe should be done to make the U.S. food safety system function appropriately.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are alone again for a change. Matt brought up a very important topic for discussion: at-home freeze drying, something that's quickly growing in popularity.Matt confessed that he has some ulterior motives behind his topic choice. He wants a freeze dryer in his home, but he's still trying to convince his wife that this is a wise choice.Tune in to learn all about freeze drying food at home, including what exactly freeze drying is, how the process works, and how to make sure you're doing it correctly, so you're able to have products with a shelf life of 25 years and, most importantly, not die.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are sharing with you the food safety star-studded “Food Safety Voices: Communicating Effectively in Challenging Times” LinkedIn Live with guests: Bryan Armentrout, Dr. Darin Detwiler, Jill Stuber, and Tia Glave.These are six of the most recognized voices in food safety and they came together to discuss how to effectively communicate critical food safety messages in difficult situations both in public and professional arenas.From media interviews to industry panels, from crisis responses to everyday advocacy, everyone shared personal experiences, communication frameworks, practical takeaways, and strategies for engaging positively and effectively with the public, industry, and regulators.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are joined by Kim Carlton, the Retail Food Program Manager at the Minnesota Department of Agriculture, straight from the 2024 FDA Retail Food Seminar & IEHA Annual Education Conference.As you probably know by now, with federalism in the US, the federal government, the states, the counties, and the municipalities all have their own way of doing things when it comes to food safety. Today, Kim explains how the state of Minnesota keeps their citizens safe from foodborne illnesses.She also shares some of her best and most unbelievable stories from the time she was an environmental health inspector.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are joined by David Lennarz, the President of Registrar Corp, a company that helps their clients to become and continue to be compliant with U.S. FDA Regulations. According to Matt, David is one of the most important, least-known people in the American food and beverage, cosmetic, medical device, and drug industries, and today, he is sharing his expertise from 22 working in the field with us.You'll learn about FDA Compliance nationally and internationally, what to watch out for, David's take on the significant changes happening within the FDA and with the new administration, and more.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are joined by Nevin Barich, the food and beverage guru of Industry Intelligence Inc.With 15+ years working as a curator and editor of all information and content out there about the food and beverage industry that his company can gather, Nevin shares a little bit of how this type of market intelligence works, how companies benefit from it, and the trends that have been emerging during his time in the role.Prepare to see a side of the industry we don't often see or talk about: the data that's behind it all.In this episode:
Who Watches the Heroes?When superheroes cause civilian casualties while trying to save the world, who holds them responsible? This episode dives deep into the complex ethics of superhero accountability, using Marvel's Civil War (the comics) and the MCU's Captain America: Civil War (the movie) as starting points to explore broader questions about power, oversight, and responsibility.The discussion examines how superhero accountability parallels real-world debates about police, military, and government oversight. Matthew and Riki analyze different models of accountability, from internal team oversight to international bodies like the UN, questioning whether registration requirements are justified and what happens when good intentions lead to tragic outcomes.Can we trust those with extraordinary powers to regulate themselves? The hosts explore how the evolution of superhero stories mirrors changing public attitudes toward authority figures, shifting from unquestioned trust to demands for greater oversight. The conversation weighs the challenges of balancing individual liberty with public safety when dealing with people who are, in essence, "living weapons."What constitutes appropriate oversight versus excessive control? The episode examines various approaches—from complete autonomy to strict registration requirements—while considering how factors like intent, training, and leadership responsibility should factor into accountability systems.Other Key Topics Discussed:Differences between the comic version of Civil War and the MCU's Captain America: Civil WarThe role of secret identities in accountability debatesParallels between superhero oversight and real-world authority figuresThe impact of Vietnam and the Watergate scandal on superhero narrativesChallenges of regulating innate powers versus granted authorityThe evolution of moral complexity in comic storytellingInternational versus national jurisdiction over superheroesLeadership accountability in hierarchical organizationsBalancing security and individual rightsThe episode concludes by examining how accountability doesn't necessarily mean assuming bad intent, but rather ensuring proper systems exist to evaluate outcomes and prevent unintended harm. Even heroes acting with the best intentions need external perspectives to assess whether their actions truly serve the greater good.This is our February member bonus episode. To hear the full episode, and to learn more about the benefits of becoming a member of the Ethical Panda podcast family, visit trustory.fm/join. **************************************************************************This episode is a production of Superhero Ethics, a The Ethical Panda Podcast and part of the TruStory FM Entertainment Podcast Network. Check our our website to find out more about this and our sister podcast Star Wars Generations.We want to hear from you! You can keep up with our latest news, and send us feedback, questions, or comments via social media or email.Email: Matthew@TheEthicalPanda.comFacebook: TheEthicalPandaInstagram: TheEthicalPandaPodcastsTwitter: EthicalPanda77Or you can join jump into the Star Wars Generations and Superhero Ethics channels on the TruStory FM Discord.Want to get access to even more content while supporting the podcast? Become a member! For $5 a month, or $55 a year you get access to bonus episodes and bonus content at the end of most episodes. Sign up on the podcast's main page. You can even give membership as a gift!You can also support our podcasts through our sponsors:Purchase a lightsaber from Level Up Sabers run by friend of the podcast Neighborhood Master AlanUse Audible for audiobooks. Sign up for a one year membership or gift one through this link.Purchase any media discussed this week through our sponsored links.
In this episode of Don't Eat Poop!, our hosts Matt and Francine are joined by Food Safety Sanitation Professional Elena Montoya.She has been one of the podcast's most loyal listeners, and if you look through Francine's, Matt's, and the Don't Eat Poop!'s posts on LinkedIn, you will certainly find one of her comments, which are always very thoughtful and bring something new to the table.So, it's only natural that someone as passionate about food safety and helping others become the best food safety professionals and leaders they can be as our hosts should be one of our first guests in 2025.Get ready for some great laughs (usually Matt's fault), Elena's inspiring story in food safety, and ways you can become part of our welcoming and enriching Food Safety Community on LinkedIn.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are joined by Jaclyn Bowen, the Executive Director of the Clean Label Project. Food toxicology is the next frontier of food safety, and it's not just coming, it's already here.That's why we need to change and expand the definition of food safety from only protecting consumers from microbial and pathogen contaminants, to also minimizing our exposure to dangerous environmental contaminants and toxins in everyday consumer products.Tune in to discover how Jaclyn Bowen and the Clan Label Project are bringing about this change, as well as what you need to know about heavy metals, pesticide residues, and packaging migration issues.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are celebrating their 100th episode and 2 years of the podcast. Incredible, right?This means that this isn't just your regular old episode. To make this milestone extra special, they decided to switch things up and invited the incredible Bill Marler, the nation's leading foodborne illness attorney and regular guest on the podcast, to interview THEM!Tune in for a very special episode and celebration.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are going through the things we put in our refrigerator that don't actually need to be in there.Prepare to be surprised about some of the 20 food items they cover. We for sure thought they had to be refrigerated, but it turns out they don't.In other cases, you'll discover that putting these items in the refrigerator is not only unnecessary but can actually lower the quality of the product, so that's a big no-no.This episode is for you, Lynn.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are joined by Sharon Beals from SKKB LLC, straight from the Food Safety Consortium 2024.Sharon truly cares about this work of keeping food safe. She has more than 40 years of experience in food safety, quality, and regulatory compliance, and during that time held senior-level roles across foodservice and manufacturing companies, and today she's sharing her expertise with us.Tune in to find out the lessons Sharon has learned throughout her career and that will help us keep food safe. They'll talk through a culture of doing things right (even when no one is watching), the biggest food safety challenge of the next 20 years, and more.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are joined by Andrew Kennedy from iFoodDS, straight from the Food Safety Consortium 2024.Andrew worked in the FDA and was one of the key people involved in writing the FDA's Traceability Rule FSMA 204, and in this episode he is sharing some insights into the process.He also talks about his time working for the FDA during the COVID pandemic, what he learned about food supply chain management (especially when things go wrong), and his current work facilitating the implementation of the traceability rule through iFoodDS, the leader in food supply chain software.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are wrapping up the year by discussing the produce industry and how the shocking number of produce recalls in 2024 clearly shows that what they're doing is far from working.They talk about this year's outbreaks and explore new food-safe technologies that can address the problem, such as Hypochlorous acid (HOCl) and electric shocks, which can kill foodborne pathogens.They also share some insights into the podcast and some of the amazing results from one more year of Don't Eat Poop!In this episode:
Who Watches the Watcher? Matt and Pete took a gander at episode 305, “What If the Emergence Destroyed the Earth?” and 306, “What If 1872?”Thanks as always to everyone who supports the podcast by visiting Patreon.com/PhantasticGeek.Share your feedback by emailing PhantasticGeek@gmail.com, commenting at PhantasticGeek.com, or tweeting @PhantasticGeek. You can also find us on Threads @PhantasticGeek.MP3
In this episode of Don't Eat Poop!, our hosts Matt and Francine are sharing some food safety tips for safe holiday cooking.There are a lot of holiday parties this time of year, and you don't want to spend most of the time on your knees in the bathroom with your head over the toilet.So, tune in to learn how to protect yourself, your family, and your friends from foodborne illnesses this holiday season.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are joined by Justin Dwyer, an Environmental Health Practitioner for Peoria City/County Health Department, straight from the 2024 FDA Retail Food Seminar & IEHA Annual Education Conference.Justin shares a little bit about the different parts of his job: handling food recalls, doing lead abatement inspections, overseeing farmers' markets and the food that falls under the Illinois Cottage Food Act, making sure well water is safe, inspecting food establishments, and investigating foodborne illness and outbreaks.Tune in for some great stories, tips, and the realities of the life of a health inspector.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are tying a knot in the Boar's Head Listeria outbreak now that the outbreak has been deemed over by the CDC.They share the final toll of the outbreak, discuss the reality of underreporting, and talk about its impacts.They also share the very grave and necessary letter from one of Bill Marler's, the nation's leading foodborne illness attorney, clients who lost her husband to a Boar's Head Listeria-laced liverwurst sandwich.Warning: this episode discusses grief and loss and recounts the death of a beloved husband. You might want to keep some tissues handy, this is a hard one.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are joined by Bill Marler, the nation's leading foodborne illness attorney, to discuss some of the major outbreaks of 2024 (so far) and there are many.According to Matt, it feels like the industry, in terms of a lot of amazing brands, decided to throw their brands into a dumpster, put gasoline on it, and light a fricking match over the last six months.They talk about the Boar's Head Listeria outbreak, the McDonald's Quarter Pounders E. coli O157:H7 outbreak, and the Grimmway Farms carrots E. coli O121:H19 outbreak. As well as some you probably haven't heard of like the Andre's Banquet Center E. coli O157:H7 outbreak, the Wolverine Packing Co. E. coli O157:H7 outbreak, and the Montana Wagyu Beef E. coli O157:H7 outbreak.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are joined by FDA Retail Food Specialist Carolyn White at the 2024 FDA Retail Food Seminar & IEHA Annual Education Conference.No one is happy to see a health inspector, right? Well, today's guest will help reframe that point of view as she shows that a health inspector is NOT the enemy but a resource.She shares some essential FDA resources available for retail food safety both for regulators and operators.In true Don't Eat Poop! fashion, they dive deep into the issue of Norovirus including all the projectile vomiting that goes with it. They also share great stories of being in food retail.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are joined by Steven Mandernach, Executive Director at the Association of Food and Drug Officials, straight from the Food Safety Consortium 2024.“I never thought of it that way” is something you'll catch yourself saying throughout this episode full of gems. Prepare yourself to better understand the harsh realities of being a food inspector, the consequences of the planned budgetary cuts by the FDA to food inspections, how food e-commerce could be better regulated, and more.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine have just gotten back from the Food Safety Consortium 2024 and they're sharing everything while it's still fresh in their minds.You will hear all about their experience and their biggest takeaways. You will also be in the know about the amazing interviews they have coming your way.So, don't miss this event recap!In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are talking about the hot topic of the past few weeks: the deadly McDonald's E. Coli outbreak.This is a multistate outbreak with cases in 13 states and one death so far. Tune in to learn more about the facts surrounding the outbreak as well as Matt's and Francine's expert opinions on the situation.They'll also address the food safety controversy around Donald Trump's publicity stunt at a McDonald's on October 20, 2024.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are joined by Doug Farquhar, the Director of Government Affairs of the National Environmental Health Association, at the 2024 FDA Retail Food Seminar & IEHA Annual Education Conference.Doug is on a mission to encourage US states to adopt more recent versions of the FDA Food Code (only 4 states have adopted the most recent version so far) but this gets really tricky because of federalism.Tune in as he sheds some light on just how independent every single state, county, and municipality is from the federal government and what that ultimately means for US food safety.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are sharing with you the Ask Us Anything! LinkedIn Live they did on Sep 25, 2024, during Food Safety Awareness & Education Month.This event was unscripted and they answered questions as they came, and there were some amazing ones. They covered the need (or not) for new regulations, the differences between the EU and the US regulations, the future of food safety especially the role of AI in that, and much more.There was even a special appearance of Francine's famous tiara, so tune in for a light episode that's also packed with great information.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are joined by Pulitzer Prize winner and New York Times-bestselling author Deborah Blum, at the 2024 FDA Retail Food Seminar & IEHA Annual Education Conference.She is the author of “The Poison Squad”, one of Matt's favorite food safety books. Together they explore her outrageous findings from the time before regulations that she shares in the book, as well as ways to make things change for the better.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are joined by Patrick Quade, Founder and CEO of Iwaspoisoned.com, at the 2024 FDA Retail Food Seminar & IEHA Annual Education Conference.They talk about Iwaspoisoned.com, which is a food safety crowdsourcing website. People can come to the website and report a food safety issue, and that data is then used to detect outbreaks, clusters, and trends in real time.Tune in to hear about the great impact this technology can have in food safety by allowing companies to prevent instead of react to challenges.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are looking into their very own crystal ball and diving into “The Future of Food Safety” on their Keynote at 2024 FDA Retail Food Seminar & Annual Education Conference.They talk about what golden calves they think are going to die over the next couple decades and why they're going to die with emerging technology and increase in consumers.As usual, they say what needs to be said regardless of how controversial. So tune in for a very insightful episode.In this episode:
In this episode of Don't Eat Poop!, food safety industry veterans Matt and Francine are taking you through a list of 29 common foods that are approved in the United States, but banned in other countries.Prepare yourself to be surprised by the bad foods and thoroughly entertained by our hosts and the stories of how they consume these products in their daily lives.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine welcome back an esteemed guest onto the podcast, the food safety expert and advocate Dr. Darin Detwiler. He's here to spread the word about the Global Glove Safety Day initiative, taking place on September 18th, during Food Safety Education Month. This day serves as a compelling reminder that food safety is truly #InOurHands, both in a literal and figurative sense.Of course, they also tackled some big food safety issues that need to be discussed like the need for audits and inspections to have real consequences, how policy is not keeping up with changes in the industry, the slap in the wrist nature of corporate responsibility enforcement, and more.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are turning their attention to the Olympics where some of the athletes were unfortunately drinking poop while competing in the river Seine.You'll hear all about the controversial situation, including the “cleaning” of the Seine River and the Olympic athletes that fell ill after swimming in the polluted river waters.They also take a detour to talk about potable and non-potable water and take a long hard look at the failings of the certification process in the industry.In this episode:
In this bonus episode of Don't Eat Poop!, Francine and Matt are joined by a very special guest, Bill Marler, a leading expert in food safety. Together, they dive into the Boar's Head Listeria outbreak, shedding light on how things went so wrong and why it's crucial for food companies to take responsibility when outbreaks like this occur.You'll hear about Boar's Head's food safety failures, the rise in Listeria cases across the U.S., and why transparency and accountability are the only way forward for companies involved in outbreaks. Bill shares powerful insights from his decades of experience in food safety law, including how government agencies and corporations can prevent future tragedies.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are joined by Carly Bader, Manager of Science at Willow Industries, a cannabis decontamination technology company.Just like foods and beverages, cannabis can also be contaminated with microbial diseases such as salmonella and E. coli. In this episode, you'll learn more about that as well as some ways used to make cannabis safe for all consumers.Also, tune in to hear about Carly's exciting first experience at the Food Safety Consortium.In this episode:
After the Quaker Oats food recall case study was featured in the last episode, food safety industry veterans Francine L. Shaw and Matt Ragucci decided to bring back this important episode that was aired shortly after that recall happened. In this conversation, Matt and Francine spotlight an important discussion on developing standard food safety procedures in homes and the role of consumers in demanding safer food through better food safety regulations.Towards the end, there is a humorous discussion about a 'chef' who prepares meals in very unconventional settings. The episode concludes with their signature sign-off, 'Don't eat poop!' (especially from airplane bathrooms!).In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are once more talking about the Quaker Oats Salmonella Recall, this time in light of the public FDA letter that got sent to PepsiCo about the case.They are doing a case study of this food recall, breaking it down, and making it meaningful for the people that are on the ground managing or working on facilities like this.Food Safety Talk: Make sure to stay tuned for all you need to know about hand washing.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are talking about a Listeria outbreak in Canada that was traced back to Silk and Great Value brand plant-based milk, both produced in the same Danone Canada facility.Tune in as they make sense of what went wrong, talk about the consequences of such a recall, and educate us about Listeria.They also tackle the risks of raw milk, as well as the logistics behind it.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are talking about Chinese food safety after an outrageous cooking oil scandal in China.Tune in for all the details, some insight into how it happened and what it may mean for food safety in China.Also learn about the shocking number of diseases spread through food.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are talking about something that does not fall within the realm of food safety but still needs to be discussed because it affects millions of women: tampons.They are going over some recent studies that show there are lead, arsenic, and other potentially toxic chemicals in tampons and panty liners. This is probably the most difficult episode they've ever recorded since this topic is no joke. So, get ready for a wild ride.In this episode:
It's Cobra Kai season! Listen to Rob rant about how great the latest season of Cobra Kai is. We also dive into a spoiler free review of Deadpool & Wolverine. In the second half of the episode, the guys review the episodes "The Survivors" and "Who Watches the Watchrs".
In this episode of Don't Eat Poop!, our hosts Matt and Francine are talking about chicken, more specifically about how you should NOT wash raw chicken.The problem is that the majority of Americans wash raw poultry even though that does more harm than good. So, today our hosts are tackling this big issue.Since salmonella is already in debate they are also talking about the risks behind homemade mayonnaise which becomes more prevalent during these summer months.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are talking about two of people's favorite things: chocolate and coffee. Unfortunately, it's for a not-so-great reason: major product recalls.Tune in to learn all about the recall of over 4 million pounds of chocolate potentially contaminated with salmonella. As well as the recall of 242 different canned coffee products potentially contaminated with botulism.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine take on the challenging but important topic of child labor. This is relevant for food safety because the majority of working children worldwide work in agriculture.This is a topic that is close to Matt's and Francine's hearts as both worked many different jobs when they were still children and teenagers. So, you'll get to hear about their personal experiences and opinions about child labor and more.This week our hosts are also busting down the myth about which types of cutting boards hold harmful bacteria and pathogens and which don't.In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are going through the list of the 10 Worst Food Safety Scandals in recent history, which include both national and international outbreaks that resulted in serious health consequences, deaths, and widespread outrage.You will hear about what some of these outbreaks were like from the inside as Matt and Francine share their experiences from either working with the affected companies or writing extensively about the subject as it happened.Last but not least, they are busting down another food safety myth today, the one that you should not put hot foods in the refrigerator. So, stay tuned!In this episode:
In this episode of Don't Eat Poop!, our hosts Matt and Francine are talking about the recently approved FDA's reorganization plan, which will hopefully bring positive changes to the organization.They discuss all the major changes being made to the FDA, including their opinions on each of them. They also talk about the acronym nightmare this is already proving to be.But that's not all, today Matt is busting down a widely believed food safety myth that might just shock you, so make sure to listen to the end.In this episode:
Tom Bodrovics welcomes back mining executive and metals analyst David Jensen. Together they revisit concerns around the London gold market's dominance, estimated to account for 91-92% of the global gold trade. This is thanks to the Bank of England's 'regulatory oversight' since 1986, permitting unallocated gold contracts instead of physical bars. The market trades $500 billion of gold daily and and 2.9 billion ounces of silver. However, only around 3.5% of London's vaulted gold is actual physical. They contrast the LBMA with the Shanghai gold market and point out the key differences. David argues that the London market functions as a price-setting mechanism rather than one of price discovery. They discuss Gibson's paradox, where interest rates follow price levels rather than inflation rate. Central banks benefit from this control scheme due to their control over monetary policy and debt levels using gold and silver as loose policy indicators. David delves deeper into the London Bullion Market Association (LBMA), which regulates through a voluntary code of conduct called NIPPS which is under Bank of England oversight. The metals market are dominated in London, with around 90% global cash trading occurring there. David raises concerns over the transparency and authenticity of silver holdings in Exchange-Traded Funds (ETFs), questioning claims against metal, sub-custodians, potential rehypothecation or selling. The actual amount of silver held and its implications for interest rates and the economy if pricing proves fictitious are discussed. Time Stamp References:0:00 - Introduction1:12 - Size of London Market7:07 - Paper Claims on Metals8:45 - Silver a Virtual Asset?9:50 - Opaque Market & Claims14:44 - Fractional Reserve Metals?15:57 - LBMA 'Code of Conduct'20:54 - Who Watches the Watchers22:09 - Settlement Definition24:29 - London Vs. New York25:35 - Futures & Cash Markets30:20 - ETFs & Bullion Banks33:08 - Honesty & Transparency?38:13 - Criticality Theory41:10 - Scales & Incentives42:18 - Wrap Up Talking Points From This Episode London gold market dominates, allowing unallocated contracts. Central banks benefit from opacity, influencing monetary policy. Questions about physical holdings vs. claims in London's vaults impacting interest rates and the economy. Transparency concerns regarding ETF silver holdings, potential rehypothecation or selling of metal claims. Guest Links:Substack: https://JensenDavid.substack.com/Gab: https://gab.com/DavidJensenReddit: https://www.reddit.com/user/j_stars/Jeff Currie Video: https://www.youtube.com/watch?v=ESxpDsUmQRE David Jensen, P.Eng., LL.B., MBA, is a Professional Engineer with a degree in Engineering from the University of Waterloo in Canada. He worked through 1993 on the F-5 Fighter Overhaul program and the Bombardier Regional Jet programs. Mr. Jensen then graduated with an LL.B. degree in corporate and commercial law from the University of Calgary and an MBA from Univ. of B.C., majoring in Logistics and Supply Chain Management. Returning first to aviation, then, after reading Austrian School Economics, Mr. Jensen transitioned to the mining industry in 2004. First through his mining industry consultancy, then as Vice President of Corporate Development for Western Copper Corp., and most recently as President and COO of Skyline Gold. Mr. Jensen currently serves as President and COO of a private mining company and provides strategic, operational, risk assessment, and precious metals consulting services through his consultancy, Jensen Strategic.