Danny Jones

And the way it works is before 2007 –

There was a quota system where it was like for red snapper, it was like three million pounds per year are allowed to be caught in this area.

Right.

So it was like derby fishing.

So all the boats would go out and they would catch as much fish as they possibly could.

And they would wait at the when they get back from their trip.

And then they would, you know, quantify that or, you know, tell the federal government this is where we're at.

And sometimes they would reach that three million pound limit in like October.

So what do they have to do for the rest of the year?

They stop fishing.

They can't do anything.

So in 2007, the federal government made a monopoly where they gave boat owners

an allotment of fishing quota per year.

So some guys got a hundred thousand pounds.

Some guys got 200,000 pounds, which is if it's red snapper, that's a dollar a pound.

So that's like the best retirement plan known to man.

The federal government is handing you 200,000 pounds of red snapper quota per year.

And then what happened was

Eventually the boat owners sold off their quota and now it's become so discombobulated where now like you can just buy this fishing quota and trade it like stock.

You don't have to own a boat.