 That is in what attempts to start new cities with new charters and new policies and new ways of doing things. One of these is actually from the left. It's called TELOSA. I don't know if you've heard of TELOSA USA. This is an entrepreneur by the name of Mark Law, who founded Diapers.com and various other internet startups. He's made a few billion dollars. He's a billionaire. He wants to start this TELOSA city somewhere in the desert. Why we need another city in the desert? I don't know. But this is going to be based on what are called Georgia's economic principles. This is the idea that all land, all land and real estate is collectively owned. It's owned by the city. The city generates most of its revenue by collecting rent on these properties. It's run as an offer profit. The city is run as an offer profit. It provides services. The idea is to build a futuristic city with a first phase, which would cost, they say, 25 billion. It would have 50,000 residents on 1500 acres. And then ultimately they would build this out. It would cost 400 billion dollars to build this thing out. Of course, it needs to be built out by the city because you can't have private land ownership. Now, this is just silly. It's an attempt to create some kind of leftist utopia, I guess, but without really having a full blown leftist utopia because it's just the land. But this is supposed to be how the city will raise revenue and be able to invest in social services and all these things that will be done. Who's going to go live in the middle of the desert in a small town? How are you going to get? I mean, there's a real problem of scaling this. Obviously, the 400 billion is not easy to raise. I think it's easier to raise 250 billion for a university. And think about it. If you have to raise 250 billion for a university, it's 400 billion for the university. This is 400 billion with a B. Where are you going to raise that kind of money? Why would people invest in it? Why would people go live there? Why would people upkeep the real estate when they don't own it? Why would they take care of it if they don't own it? We know what central planning is like. Why would we think the centrally planned city would work? Why would we think the centrally planned maintenance of real estate would work? The centrally planned rent control has been a massive failure everywhere. It's been tried. I think it will never happen. On the other hand, for years now, we've been hearing about libertarians wanting to create independent cities around the world, maybe buying an island, maybe doing like that, something like that. Well, they got their wish. In 2012, I think it was, Honduras changed its constitution. 2011, Honduras changed its constitution. It allowed for the creation of independently independent cities that had their own laws, regulations, taxes, and the only thing that Honduras controlled was foreign policy. But these were complete independent entities that entrepreneurs could start and build and buy. By the way, just because I remember this, Singapore, almost all the housing in Singapore is owned by the state. It's owned by the government. So you could argue that there's a precedent. But in terms of other economic freedoms, Singapore is a state. It's a country, not just a city. So it has managed to attract people there because of its unbelievably free market economic policies, which a city couldn't do because the city is still bound by state and federal law. Anyway, these cities in Honduras would not be bound by Honduran law. This was passed in 2011. In 2012, it was overturned by the Supreme Court. But then they modified it and the president also basically just fired the Supreme Court and put in a Supreme Court that he liked. The new Supreme Court approved this. And so now you could start a city in Honduras with a lot of autonomy. Not complete autonomy, but a lot of autonomy. The original idea of creating these cities was by economist Paul Roma. I think he's an overpriced winner. Anyway, he sends his abandon the project for a variety of reasons. Anyway, the first one of these cities is in the building process. It's called Prospera, from Prospera, I assume. Prospera, it's a private charter city on one of these free economic zones. It's on the island of Roatan in Honduras. It's off the coast, off the northern coast. It's in the Caribbean Sea. It's going to try to appeal to entrepreneurs, crypto people. They're already building housing there. They've already got significant investment. It's already having a positive impact on the neighborhood, on towns and communities around the place. So it's happening. It's something that is actually manifesting itself in reality out there. So I'd say that is exciting. And so we are... No, it's not in El Salvador. Bitcoin is now legal tender in El Salvador, but that has its own problems. No, this is trying to attract entrepreneurs within the field of Bitcoin and crypto because of the lack of regulations. Part of what is going to be attractive about Prospera is if you want to start like a bank in Prospera, you propose the regulations to the authorities and then they will either give it a thumbs up or thumbs down. But you basically get to propose what kind of regulatory self-regulation you propose you are willing to live under. Anyway, this is something to watch. It's interesting. It's another alternative in life. I believe in having choices and having alternatives and having escape routes in a world that seems to be going nuts. Crazy, crazy. Left and right becoming more and more statist, a world generally that is becoming more and more statist. It is nice to see different alternatives rising out there. Hopefully there'll be other cities like Prospera. Long term, I don't think this is an ultimate solution because I think Honduras could change its mind. You would need a military force to defend yourself. I like that it's on an island. It's easier to defend an island than landlocked place. So let's wait and see. But if you're interested in looking for a new place to live, if you want to retire, if you want to pay much lower taxes, if you want to be surrounded by people who are freedom loving, I don't know what socially it's going to be like. I don't know what culturally it's going to be like. I don't know what else is going to be there. That's going to be part of their challenge. But I think young people as well as people retiring are going to be looking at new places like this. But it's those capitals of plant city. It looks like a plant city. It's cold like a plant city. And it's very much a statist city and it's a statist statement of a city. Thank you for listening or watching the Iran book show. If you'd like to support the show, we make it as easy as possible for you to trade with me. You get value from listening. 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