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TRASHFUTURE

Bill Ackman Exclusion Zone feat. Rob Smith

TRASHFUTURE

TRASHFUTURE

Comedy

4.7935 Ratings

🗓️ 4 November 2025

⏱️ 72 minutes

🧾️ Download transcript

Summary

The FT’s Rob Smith joins us to talk about the $4.5tn private credit bubble brewing in global financial markets… or to put it in perspective, to answer the question of how a regional Ohio auto parts distributor joined forces with Utah’s Swaggest Mormons to ring alarm bells at the IMF. Get more TF episodes each week by subscribing to our Patreon here! TF Merch is still available here! *MILO ALERT* Check out Milo’s tour dates here:https://www.miloedwards.co.uk/liveshows Trashfuture are: Riley (@raaleh), Milo (@Milo_Edwards), Hussein (@HKesvani), Nate (@inthesedeserts), and November (@postoctobrist)

Transcript

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0:00.0

Hello, everybody. Welcome to this free. It's a Monday episode of TF. I am Riley in the studio, joined by Hussein

0:22.3

and Nova. And of course, the man himself, returning guest, FD journalist, Rob Smith, the Bond

0:28.6

Hack. Rob, how you doing? The Bond Hack? Yeah, no, I'm good. Good to be back. Lovely. And we're

0:34.2

going to talk about something I've been wanting to talk about for quite a long time.

0:38.5

And that we've been talking about something around the edges of, which is where all of the money went in the last 10 years.

0:45.9

That seems important.

0:47.2

Yeah.

0:47.5

Does anyone check the back of the sofa?

0:49.0

Does this relate to the years we spent talking about the money being invested in various scams and frauds?

0:56.3

Yes, in no small part.

0:58.8

Yeah.

0:59.2

It could be like in a shoebox somewhere because I found like some money like recently in a shoebox

1:03.2

and I forgot that it was there.

1:04.5

But it wasn't like money like notes.

1:05.8

It was like coins.

1:06.9

And so it was like an absurd amount of coins like in a shoebox.

1:09.6

And I can't remember like where or why it happened. But like maybe that's the answer. So like imagine that shoebox, but it's like a car parts company in Cleveland. And there's 12 billion dollars in the shoebox and no one knows where the car parts are. It's rattling around. Yeah. Everyone's trying to find windshield wipers because they need them to repay the debt that they

1:29.3

then.

1:30.3

What's very amusing is when we get to this, which is going to comprise the bulk of the episode,

1:33.3

Rob is not exaggerating here.

1:36.3

Literally, there are people whose job is trying to find where $12 billion worth of windshield wipers are

1:43.3

because otherwise this could

...

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