don't know if we can handle that. That might make J6 look like a tea party, so to speak. Bad choice of words. But it might happen. And certainly if you straight lined it it's heading that way. But if there's anything I could teach you it's that things never go in a straight line. So if you straight line it that's what it looks like but probably won't happen because it's too obvious.

Do you know the situation about Trump's legal jeopardy with the two different valuations for his property? So one was a low valuation I think he would use it for property tax purposes but in another context he put a high valuation on it and I think that was for bankers. And I saw a journalist explaining that and I want to give my take on that now. This might be a situation why journalists are really bad at journalism if they don't have a background in business and then the real world. So that's what I felt. I won't call out the journalist in this case but it was just a thread on X and it was explained this way. That there are covenants that restrict what you can do with the Mar-a-Lago property. So the covenants restrict it to pretty much the way it's being operated I guess as some kind of a club. So for property tax purposes that's the maximum that that property is worth is whatever you can do under the umbrella of the covenants. So it would be completely practical, completely legal, completely appropriate for Trump to consider the covenants when he does his property tax assessment or his lawyers do or his accountants. Everybody with me so far?

If the covenant restricts its upper value because you can't turn it into condos, you can't build high-rises, you can't put a hotel there, right, then that's the value. It's suppressed and it might even be closer to that $18 million. I mean that's a ridiculous number but it might be closer to that range if there's nothing else you can do with it. But in a hypothetical situation where the covenants were removed then you've got some of the most valuable real estate in the whole world that you could do any number of things that would be worth hundreds of millions of dollars.

So if Trump were talking to his bankers might it sound like this? I mean I'm making this up but might it sound like this and I'll give you the pretend version. Hey banker, I value this at a few hundred million and the reason is that if I needed to I could get those covenants changed. Well how would you do that? Well first of all that's basic business for a real estate developer. Getting zoning changed, getting covenants removed. That's sort of what I do for a living by the way. How many of you knew that? How many of you knew that a big real estate developer for a living they get zoning reassessed. They negotiate with the city to make sure the city is happy but also so as a developer because cities like developers to succeed so they're always negotiating. So imagine Trump said to his banker, under the current covenant you know it's worth less but here's how I would negotiate that away which tells you what the real value is. I would go to them and say do you need $10 million for a new park? I'll give you $10 million for a new park. And I'll agree that whatever I do under a new covenant would not be disruptive to the community. So all we're going to reassess what the covenant does but I won't increase traffic and maybe that's a concern. So you just say what is your concern? Is your concern that it's a historic building? Well I agree that I won't change the architecture. Something like that.

So if the greatest salesperson in the world, literally the most persuasive person America's ever seen, Trump, if he couldn't sell the city on a covenant change I don't know who could. Because it's partly bribery. Legal bribery. But the bribery is, hey city that has these covenants that I already agreed to, is there something you want more than you want these covenants? Yeah it could be environmental exactly. He could fund a climate change project. He could fund putting in solar panels. In the hilarious version he would buy them some windmills. That would be the funny version but not realistically. Yeah or low-income housing,