1 00:00:00,080 --> 00:00:02,800 Speaker 1: Hello, and welcome to another episode of the Markmas Show 2 00:00:02,800 --> 00:00:05,560 Speaker 1: where we talk about the decentralized revolution each and every week, 3 00:00:05,600 --> 00:00:07,720 Speaker 1: of course, looking at through the lens of politics, finance, 4 00:00:07,760 --> 00:00:11,640 Speaker 1: and technology. And it has been a busy week. We'd 5 00:00:11,680 --> 00:00:13,080 Speaker 1: like to look at those three things so we can 6 00:00:13,160 --> 00:00:16,200 Speaker 1: understand what's going on in the world today and help 7 00:00:16,280 --> 00:00:19,120 Speaker 1: us hel up guide our decisions that we make today 8 00:00:19,320 --> 00:00:22,320 Speaker 1: so we can better prepare ourselves, our family, our finances 9 00:00:22,680 --> 00:00:24,360 Speaker 1: and we can navigate this correctly. Of course, we talk 10 00:00:24,400 --> 00:00:27,040 Speaker 1: about through the lens of politics, finance, technology, with technology 11 00:00:27,040 --> 00:00:30,640 Speaker 1: being the biggest piece the decentralized technology of bitcoin that 12 00:00:30,680 --> 00:00:32,199 Speaker 1: has changing in the world. But the world is changing. 13 00:00:33,159 --> 00:00:36,080 Speaker 1: Everything is changing, the money we use is changing, the 14 00:00:36,080 --> 00:00:39,400 Speaker 1: technology is changing. You know. Each week I try to 15 00:00:39,400 --> 00:00:41,040 Speaker 1: bring to you some education so you can start to 16 00:00:41,120 --> 00:00:45,400 Speaker 1: understand these issues that maybe at first glance you don't 17 00:00:45,440 --> 00:00:47,600 Speaker 1: understand or maybe they seem too complex, and so I 18 00:00:47,640 --> 00:00:49,839 Speaker 1: try to break them down so you can easily understand 19 00:00:49,880 --> 00:00:51,479 Speaker 1: them down to what we call like a first principles 20 00:00:51,560 --> 00:00:53,239 Speaker 1: levels you can start to formulate your own ideas off 21 00:00:53,280 --> 00:00:54,600 Speaker 1: of them. Of course, I try to bring to you 22 00:00:54,640 --> 00:00:57,280 Speaker 1: some of the latest breaking news so you're kept up 23 00:00:57,280 --> 00:01:00,120 Speaker 1: to date on exactly what's going on, and that to 24 00:01:00,160 --> 00:01:03,160 Speaker 1: what we have for you today. Some of the biggest 25 00:01:03,760 --> 00:01:07,160 Speaker 1: stories that broke this week that show you that we 26 00:01:07,240 --> 00:01:10,440 Speaker 1: are at the end the pendulum, is maxed out on 27 00:01:10,480 --> 00:01:13,959 Speaker 1: the centralization side and it is now swinging back to 28 00:01:14,240 --> 00:01:17,000 Speaker 1: the decentralization side. And one of the big things that 29 00:01:17,040 --> 00:01:22,280 Speaker 1: you'll see with any empire falling, like the Roman Empire, 30 00:01:22,319 --> 00:01:25,040 Speaker 1: for example, is that at the end of the at 31 00:01:25,040 --> 00:01:27,080 Speaker 1: the end of an empire, at the end of the cycle, 32 00:01:27,160 --> 00:01:29,160 Speaker 1: at the end of the pendulum reaching its thing and 33 00:01:29,240 --> 00:01:35,520 Speaker 1: swinging back, everything starts breaking down. Right. It's a it's reached. 34 00:01:35,600 --> 00:01:37,600 Speaker 1: It's like a like a good or a product that 35 00:01:37,600 --> 00:01:39,600 Speaker 1: you may have. You know, you've had it for so long, 36 00:01:40,120 --> 00:01:41,640 Speaker 1: but at the end of its cycle, at the end 37 00:01:41,640 --> 00:01:43,880 Speaker 1: of his lifespan, it just breaks down. It doesn't work anymore. 38 00:01:44,040 --> 00:01:49,040 Speaker 1: And unfortunately, even though we're still living in you know, 39 00:01:49,120 --> 00:01:50,760 Speaker 1: arguably some of the best times in the history of 40 00:01:50,800 --> 00:01:54,000 Speaker 1: the world, we're seeing how quickly things are breaking down. 41 00:01:54,560 --> 00:01:56,560 Speaker 1: And again, if you don't have the context, you don't 42 00:01:56,560 --> 00:01:59,080 Speaker 1: really understand that. One thing, one story I saw this 43 00:01:59,080 --> 00:02:01,840 Speaker 1: week that I thought was really big news was that 44 00:02:01,960 --> 00:02:05,200 Speaker 1: we see at the end of every cycle is the 45 00:02:05,200 --> 00:02:07,880 Speaker 1: society breaking down. And some of that is the corruption, 46 00:02:08,240 --> 00:02:13,520 Speaker 1: the corruption that comes out where everybody's looking out for themselves. Um. 47 00:02:13,600 --> 00:02:15,519 Speaker 1: You know, when it comes to a business, if I 48 00:02:15,560 --> 00:02:18,440 Speaker 1: want to find a guide my business, then um, you 49 00:02:18,520 --> 00:02:20,960 Speaker 1: have to have something called culture. Company culture. And so 50 00:02:21,080 --> 00:02:23,760 Speaker 1: there's some good examples of this like Southwest Airlines was 51 00:02:23,800 --> 00:02:27,079 Speaker 1: really good with that. Zappos, the online shoe company, really 52 00:02:27,080 --> 00:02:30,799 Speaker 1: set the set the stage for what company culture was like. Um. 53 00:02:30,800 --> 00:02:32,200 Speaker 1: And so you set the culture. But the culture comes 54 00:02:32,200 --> 00:02:35,320 Speaker 1: from the top. So the CEO, the president, the founder, 55 00:02:35,560 --> 00:02:37,760 Speaker 1: he sets the culture and then he instills that culture 56 00:02:37,760 --> 00:02:41,120 Speaker 1: and everybody else. So they say, the saying is an 57 00:02:41,120 --> 00:02:43,560 Speaker 1: old wife stellar or whatever is that a fish stinks 58 00:02:43,600 --> 00:02:45,799 Speaker 1: from the head down, So it's from the head and 59 00:02:45,840 --> 00:02:47,919 Speaker 1: then the rest of it goes down. And so culture 60 00:02:47,919 --> 00:02:50,040 Speaker 1: set from the head down. Now if you look at um, 61 00:02:50,120 --> 00:02:52,799 Speaker 1: you know when when when America was founded, for example, 62 00:02:53,000 --> 00:02:56,120 Speaker 1: you had people literally sailing on these old wooden ships 63 00:02:56,160 --> 00:03:00,840 Speaker 1: from Europe risking their lives to come across the ocean, 64 00:03:01,520 --> 00:03:03,800 Speaker 1: risking their lives here, giving up everything they've ever had, 65 00:03:04,800 --> 00:03:07,639 Speaker 1: hopefully to have a better lives. Not really so much 66 00:03:07,680 --> 00:03:10,640 Speaker 1: for them, but for their future generations. They sacrificed everything 67 00:03:10,639 --> 00:03:13,520 Speaker 1: they had, including their life, for future generations. And that 68 00:03:13,639 --> 00:03:15,839 Speaker 1: was how the country was founded. You know, we had 69 00:03:15,919 --> 00:03:19,280 Speaker 1: even not even that long ago, eighty years ago, we 70 00:03:19,360 --> 00:03:22,240 Speaker 1: had and maybe we still do to some extent. Immigrants 71 00:03:22,480 --> 00:03:27,079 Speaker 1: come into this nation working, you know, twelve sixteen hour days, 72 00:03:27,440 --> 00:03:31,680 Speaker 1: sacrifice in their life for hopes that their future generations 73 00:03:31,720 --> 00:03:34,840 Speaker 1: would have a better life. But today, at the end 74 00:03:34,880 --> 00:03:36,120 Speaker 1: of at the end of a generation, at the end 75 00:03:36,120 --> 00:03:39,320 Speaker 1: of a cycle, the corruption is so bad where everyone 76 00:03:39,360 --> 00:03:41,000 Speaker 1: is looking out for themselves and instead of having a 77 00:03:41,080 --> 00:03:44,440 Speaker 1: leadership that's looking out for the good of future generations, 78 00:03:44,680 --> 00:03:48,400 Speaker 1: we have a leadership that's only looking out to enrich themselves. 79 00:03:48,760 --> 00:03:51,680 Speaker 1: It's one of the signs. And of course that's the culture. 80 00:03:51,960 --> 00:03:54,480 Speaker 1: So if the leaders are setting the culture of the 81 00:03:54,520 --> 00:03:58,160 Speaker 1: country to rob, steal, lie, deceived, to look out for themselves, 82 00:03:58,240 --> 00:04:02,640 Speaker 1: then guess what every buddy does as well. So what 83 00:04:02,640 --> 00:04:04,600 Speaker 1: am I talking about? Mark? What are you talking about? Mark? 84 00:04:04,960 --> 00:04:11,360 Speaker 1: What are you talking about? Okay, Well, here's here's an example. Here. Here, 85 00:04:11,440 --> 00:04:17,600 Speaker 1: here's an example. The US just passed a bill. Uh 86 00:04:18,400 --> 00:04:21,520 Speaker 1: where is it here? Uh? The U s exports bands 87 00:04:21,640 --> 00:04:26,120 Speaker 1: on some advanced AI chips to hit China and tech majors. 88 00:04:27,600 --> 00:04:31,400 Speaker 1: So the US ordered a ban no more exporting advanced 89 00:04:31,480 --> 00:04:35,880 Speaker 1: chips to China, and it's likely to hit all major 90 00:04:35,920 --> 00:04:39,920 Speaker 1: tech companies running like public cloud servers and things like that. Now, 91 00:04:39,920 --> 00:04:44,320 Speaker 1: who was this that was actually affected that, you might ask, Oh, 92 00:04:44,480 --> 00:04:49,800 Speaker 1: it's the chip manufacturer in video. So in video said 93 00:04:49,800 --> 00:04:53,760 Speaker 1: that US officials pulled it to stop exporting two of 94 00:04:53,760 --> 00:04:56,480 Speaker 1: their top chips computer chips for a work to China. 95 00:04:57,839 --> 00:05:02,800 Speaker 1: Mm hmmm, So see video was just told they had 96 00:05:02,839 --> 00:05:06,800 Speaker 1: to ban exports to China. Now, look, China is a 97 00:05:06,800 --> 00:05:10,120 Speaker 1: bad actor. You know, we should re on shore a 98 00:05:10,120 --> 00:05:13,280 Speaker 1: lot of those jobs. We should stop selling on our technology. Sure, 99 00:05:13,320 --> 00:05:15,320 Speaker 1: I'm with that. So what are you talking about corruption? Mark? 100 00:05:15,360 --> 00:05:18,839 Speaker 1: Where are you going with that? Well, if you have 101 00:05:19,000 --> 00:05:21,440 Speaker 1: been listening to peopore some time, then you know that 102 00:05:21,760 --> 00:05:26,640 Speaker 1: Nancy Pelosi, the third highest ranking person in the United 103 00:05:26,680 --> 00:05:31,040 Speaker 1: States government um is actually not just the her third 104 00:05:31,120 --> 00:05:34,280 Speaker 1: highest ranking person in the United States government, she's actually 105 00:05:34,600 --> 00:05:37,560 Speaker 1: the best investor in the history of the world. As 106 00:05:37,600 --> 00:05:41,400 Speaker 1: a matter of fact, her and her husband have performed 107 00:05:41,440 --> 00:05:46,600 Speaker 1: better They're there investment portfolios has performed better than every 108 00:05:46,600 --> 00:05:52,039 Speaker 1: Hedge Fund, every Wall Street institution. Why is she in politics? 109 00:05:52,080 --> 00:05:53,960 Speaker 1: She should just be in the investment world, Like, no 110 00:05:53,960 --> 00:05:58,640 Speaker 1: one's ever been as good as her? Right, how has 111 00:05:58,720 --> 00:06:02,480 Speaker 1: she gotten so good? Well, it looks like the Pelosi's 112 00:06:02,720 --> 00:06:08,920 Speaker 1: sold five million dollars of in Vidious stock just days 113 00:06:08,960 --> 00:06:13,400 Speaker 1: ahead of the vote on the chip maker subsidies. Mm hmm. 114 00:06:14,360 --> 00:06:18,760 Speaker 1: So it seems like every time Nancy Pelosi and her 115 00:06:18,839 --> 00:06:23,240 Speaker 1: husband by or sell a stock, it comes right before 116 00:06:23,279 --> 00:06:27,560 Speaker 1: a law changes. That's pretty interesting. Now, chip Maker and 117 00:06:27,640 --> 00:06:29,800 Speaker 1: Video said that it could lose as much as four 118 00:06:30,080 --> 00:06:34,640 Speaker 1: hundred million dollars in quarterly sales after the US imposed 119 00:06:34,680 --> 00:06:37,599 Speaker 1: this licensing requirement on shipments to some of its chips, 120 00:06:37,600 --> 00:06:42,880 Speaker 1: you know, to China. But but how did how did 121 00:06:42,880 --> 00:06:45,640 Speaker 1: how did Nancy Pelosi know this? How did they know 122 00:06:46,000 --> 00:06:48,719 Speaker 1: that this was going to happen? Well, let's read this 123 00:06:48,800 --> 00:06:51,880 Speaker 1: article here. It says that as a Capitol Hill vote 124 00:06:51,920 --> 00:06:54,880 Speaker 1: looms this week on a controversial fifty two billion dollar 125 00:06:54,920 --> 00:06:59,240 Speaker 1: subsidiary to chipmaker house Speaker, Nancy Pelosi's husband quietly offloaded 126 00:06:59,240 --> 00:07:02,720 Speaker 1: a chunk of hers and semiconductor giant the video. According 127 00:07:02,720 --> 00:07:07,360 Speaker 1: to public filings, Paul Pelosi sold the five million troupe 128 00:07:07,360 --> 00:07:09,120 Speaker 1: of shares Tuesday at a at a little bit of 129 00:07:09,160 --> 00:07:12,280 Speaker 1: a loss, and it's it's unclear whether they sold everything 130 00:07:12,360 --> 00:07:14,920 Speaker 1: or just a portion of it, because we don't know 131 00:07:15,040 --> 00:07:17,680 Speaker 1: until later. So they have to publicly declare what their 132 00:07:17,680 --> 00:07:19,560 Speaker 1: holdings are, but we don't know immediately. We have to 133 00:07:19,560 --> 00:07:24,440 Speaker 1: wait until the quarters over to see what that is. Now, 134 00:07:24,600 --> 00:07:29,480 Speaker 1: since that's happened, the stock on the chip maker has 135 00:07:29,520 --> 00:07:34,600 Speaker 1: gone down by twenty two mm hmm. Does that seem 136 00:07:34,640 --> 00:07:36,320 Speaker 1: like a coincidence? No, no, let me let me let 137 00:07:36,360 --> 00:07:40,280 Speaker 1: me talk about another coincidence. You probably remember that Nancy 138 00:07:40,360 --> 00:07:44,240 Speaker 1: Pelosi flew on a plane to Taiwan. Now, let me, 139 00:07:44,400 --> 00:07:45,880 Speaker 1: let me, let me make this clear. She's not like 140 00:07:45,960 --> 00:07:50,160 Speaker 1: the secretary of State. She's not like a diplomat, like 141 00:07:50,200 --> 00:07:53,720 Speaker 1: an ambassador. She doesn't go to other countries on our behalf. 142 00:07:53,760 --> 00:07:55,920 Speaker 1: She decided to take a trip to Taiwan, not not 143 00:07:56,000 --> 00:07:57,840 Speaker 1: because we needed her too, not because that was part 144 00:07:57,880 --> 00:08:00,440 Speaker 1: of her job. She went, and she went on your dimes. 145 00:08:00,480 --> 00:08:03,080 Speaker 1: She went on the government's budget, and oh yeah, she 146 00:08:03,200 --> 00:08:06,200 Speaker 1: took her son with her too. And she went at 147 00:08:06,200 --> 00:08:08,680 Speaker 1: a time when tensions are of a nuclear war all 148 00:08:08,760 --> 00:08:11,280 Speaker 1: time high. Were China and Taiwan are and war, and 149 00:08:11,360 --> 00:08:14,040 Speaker 1: China said, do not land that plane in Taiwan or 150 00:08:14,080 --> 00:08:17,160 Speaker 1: that is an act of war. And she did. Anyway, 151 00:08:17,440 --> 00:08:19,560 Speaker 1: Why why would why did she have to go to 152 00:08:19,600 --> 00:08:23,680 Speaker 1: Taiwan and poke the dragon and provoke nuclear war. Well, 153 00:08:23,680 --> 00:08:29,200 Speaker 1: it turns out her son just happens to be involved 154 00:08:29,240 --> 00:08:33,280 Speaker 1: in an investment fund that invests in microchips that come 155 00:08:33,320 --> 00:08:37,000 Speaker 1: from Taiwan. You see what I'm talking about. We are 156 00:08:37,040 --> 00:08:38,480 Speaker 1: at the end of an empire. If this isn't a 157 00:08:38,480 --> 00:08:40,000 Speaker 1: bigger sign post, I don't know what it is. I'm 158 00:08:40,000 --> 00:08:43,240 Speaker 1: talking about the third highest ranking person in the government 159 00:08:43,240 --> 00:08:47,640 Speaker 1: in the United States selling making money, enriching themselves off 160 00:08:47,640 --> 00:08:50,240 Speaker 1: of information that they know ahead of time before me 161 00:08:50,320 --> 00:08:53,319 Speaker 1: and you, and potentially risking the United States going into 162 00:08:53,360 --> 00:08:57,600 Speaker 1: a nuclear war, provoking the dragon because she wanted to 163 00:08:57,640 --> 00:09:01,200 Speaker 1: take her son so he could build his business, his 164 00:09:01,240 --> 00:09:04,880 Speaker 1: investment business in microchips with Taiwan. If that's not a 165 00:09:04,960 --> 00:09:07,360 Speaker 1: signpost of the end of an empire, I don't know 166 00:09:07,440 --> 00:09:11,439 Speaker 1: what is it is. Anyway, you're listening to the Mark 167 00:09:11,440 --> 00:09:13,080 Speaker 1: mo Show. We talk about each and every week the 168 00:09:13,200 --> 00:09:17,559 Speaker 1: decentralized revolution. Now the world is swinging from centralization to decentralization, 169 00:09:17,840 --> 00:09:20,640 Speaker 1: and we talk about signposts just like this, and as 170 00:09:20,640 --> 00:09:23,200 Speaker 1: big as this one is, I have some even bigger 171 00:09:23,240 --> 00:09:25,600 Speaker 1: ones up ahead, So don't go away. I got a 172 00:09:25,679 --> 00:09:27,600 Speaker 1: lot more stories to cover, and I got some big 173 00:09:27,640 --> 00:09:29,760 Speaker 1: news that you need to know, some stuff I've been 174 00:09:29,760 --> 00:09:32,079 Speaker 1: talking about and I need to date, So don't go away. 175 00:09:32,080 --> 00:09:34,600 Speaker 1: I'm gonna be right back, all right, welcome back. You 176 00:09:34,640 --> 00:09:36,800 Speaker 1: are listening to the Markma Show where we talk about 177 00:09:36,840 --> 00:09:40,120 Speaker 1: the decentralized revolution, talking about the way the world's changing, 178 00:09:40,280 --> 00:09:43,079 Speaker 1: of course, right before our very eyes. And you know, 179 00:09:43,120 --> 00:09:46,080 Speaker 1: if you're not, you're not paying attention. I don't even 180 00:09:46,080 --> 00:09:48,200 Speaker 1: have to say that you're paying attention. You're listening to me. 181 00:09:48,280 --> 00:09:50,559 Speaker 1: I get it. You're there, right, um, So let's just 182 00:09:50,600 --> 00:09:53,800 Speaker 1: jump right into it. The world is changing, uh, politics, finance, 183 00:09:53,880 --> 00:09:57,280 Speaker 1: and technology, and technology is bitcoin. The decentralized revolution is 184 00:09:57,320 --> 00:10:00,640 Speaker 1: alive and well we see it all over the place. 185 00:10:00,800 --> 00:10:02,600 Speaker 1: We see it in the energy markets, we see it 186 00:10:02,600 --> 00:10:04,880 Speaker 1: with the geopolitics, we see it with the corruption happen 187 00:10:04,880 --> 00:10:06,880 Speaker 1: in the United States that we talked about just before 188 00:10:06,880 --> 00:10:10,960 Speaker 1: the break, and we see it inside of our own 189 00:10:11,120 --> 00:10:14,240 Speaker 1: country where again, at the end of an empire, we 190 00:10:14,280 --> 00:10:16,880 Speaker 1: can't even keep the lights on when you go broke. 191 00:10:17,600 --> 00:10:19,360 Speaker 1: Let's say you live in a hundred year old house. 192 00:10:20,080 --> 00:10:22,559 Speaker 1: That's a money pit, right, it's constantly needing the plumbing 193 00:10:22,600 --> 00:10:25,360 Speaker 1: fix and electricity fix and the lights. It's constantly. But 194 00:10:25,440 --> 00:10:26,679 Speaker 1: let's say you drive in old car. You drive a 195 00:10:26,679 --> 00:10:29,520 Speaker 1: fifteen year old car, it's like constantly needs money. It's 196 00:10:29,520 --> 00:10:31,320 Speaker 1: like a money pit for you. Right. So you have 197 00:10:31,360 --> 00:10:33,960 Speaker 1: this really old car, this really old house, and you're 198 00:10:33,960 --> 00:10:36,760 Speaker 1: going broke. You can't afford to keep it going anymore. 199 00:10:37,400 --> 00:10:39,959 Speaker 1: That's exactly what's happening inside the United States, the richest 200 00:10:40,000 --> 00:10:43,520 Speaker 1: nation in the world, supposedly, Um, and it's happening. So 201 00:10:43,600 --> 00:10:45,160 Speaker 1: let's take a look a couple of stories that happened 202 00:10:45,200 --> 00:10:47,480 Speaker 1: just this week that you should be aware of. A 203 00:10:47,480 --> 00:10:51,959 Speaker 1: couple of things that are scary and I get a 204 00:10:52,000 --> 00:10:55,280 Speaker 1: little chuckle out of them even though they're scary. Let's 205 00:10:55,320 --> 00:10:58,520 Speaker 1: talk about this first one. This first one is, man, 206 00:10:58,640 --> 00:11:00,960 Speaker 1: it's actually it's scary and and it's really bad if 207 00:11:01,120 --> 00:11:02,440 Speaker 1: you're living there. So I don't mean to say I 208 00:11:02,520 --> 00:11:04,760 Speaker 1: chuckle at it, but um, if you guys haven't seen 209 00:11:04,760 --> 00:11:08,240 Speaker 1: what's going on in the state of Mississippi. One of 210 00:11:08,240 --> 00:11:11,520 Speaker 1: the states in the United States. Jacksonville, Mississippi, no doubt, 211 00:11:11,559 --> 00:11:16,920 Speaker 1: the capital of it, the majority black capital. I'll say, 212 00:11:17,000 --> 00:11:22,679 Speaker 1: state capital has just endured its third day without drinking water. 213 00:11:24,679 --> 00:11:29,880 Speaker 1: They can't even keep clean drinking water on for the 214 00:11:29,960 --> 00:11:34,920 Speaker 1: capital of the state. Like what like We've known how 215 00:11:34,960 --> 00:11:37,520 Speaker 1: to make drinking water for a long time. We've never 216 00:11:37,520 --> 00:11:39,840 Speaker 1: had a trout problem with drinking water. Now we can't 217 00:11:39,880 --> 00:11:43,959 Speaker 1: keep it on. See what I'm talking about. President Biden 218 00:11:43,960 --> 00:11:46,920 Speaker 1: on Wednesday pledged aid to Jackson Mississippi, is the majority 219 00:11:47,000 --> 00:11:50,360 Speaker 1: black state capital endured its third day without drinking water 220 00:11:50,440 --> 00:11:55,640 Speaker 1: after a long troubled water treatment plant failed. So the 221 00:11:55,679 --> 00:11:58,880 Speaker 1: treatment plant failed, they had no redundancy, they didn't have 222 00:11:58,880 --> 00:12:00,679 Speaker 1: any spare parts, they don't don't have anyone that knows 223 00:12:00,679 --> 00:12:03,360 Speaker 1: how to fix it, and it's just dead. They didn't 224 00:12:03,360 --> 00:12:06,439 Speaker 1: have a second one. They've had one. The promise from 225 00:12:06,440 --> 00:12:09,280 Speaker 1: Washington came as frustrated people in jackson waited in long 226 00:12:09,400 --> 00:12:12,679 Speaker 1: lines amid sweltering heat. So not only do they have 227 00:12:12,679 --> 00:12:16,440 Speaker 1: not water, they don't have water. It is sweltering hot there, 228 00:12:16,520 --> 00:12:20,000 Speaker 1: as it says, and they're waiting the distribution sites where 229 00:12:20,080 --> 00:12:25,560 Speaker 1: volunteers could hand out a case of bottled water. That's 230 00:12:25,559 --> 00:12:27,520 Speaker 1: the situation that we're at the end of an empire. 231 00:12:27,640 --> 00:12:34,040 Speaker 1: They can't even keep the water going. Um. Now, I 232 00:12:34,080 --> 00:12:36,160 Speaker 1: know this is doom and gloom, but you need to 233 00:12:36,160 --> 00:12:38,000 Speaker 1: be aware of it. You need to take care of this. Like, Look, 234 00:12:38,440 --> 00:12:41,160 Speaker 1: you can have a water filtration system at your house. 235 00:12:41,440 --> 00:12:44,120 Speaker 1: You can have a reverse awesome most system put in 236 00:12:44,880 --> 00:12:47,200 Speaker 1: you can, you can finance one if you need to. 237 00:12:47,559 --> 00:12:49,880 Speaker 1: You can put a water catchment system out there if 238 00:12:49,880 --> 00:12:51,920 Speaker 1: you need to. Heck, you can even go to the 239 00:12:51,920 --> 00:12:54,280 Speaker 1: outdoor stores. You can probably go to ari I or 240 00:12:54,280 --> 00:12:56,640 Speaker 1: like the Walmart section in the camping section and you 241 00:12:56,679 --> 00:13:00,439 Speaker 1: can buy like water filtration systems. Right. You can prepare 242 00:13:00,480 --> 00:13:02,400 Speaker 1: for this, and so I don't talk about this as 243 00:13:02,440 --> 00:13:04,160 Speaker 1: a doom and gloom. I talked about this as like 244 00:13:04,200 --> 00:13:08,040 Speaker 1: a reality. This is happening and you should be prepared 245 00:13:08,080 --> 00:13:10,480 Speaker 1: for this. It says it's sad. It's sad, and I 246 00:13:10,480 --> 00:13:13,040 Speaker 1: can't even afford to move out of Jacksonville, so I 247 00:13:13,120 --> 00:13:15,960 Speaker 1: have to stay here and deal with this. And Kendre 248 00:13:16,040 --> 00:13:20,720 Speaker 1: Paine and mother of two sad. She says, it's sad 249 00:13:21,000 --> 00:13:24,760 Speaker 1: and I can't even leave if you don't have any savings. 250 00:13:24,760 --> 00:13:28,000 Speaker 1: You're a slave. If you have savings a week of savings, 251 00:13:28,040 --> 00:13:30,080 Speaker 1: or two weeks of savings, or one month of savings 252 00:13:30,200 --> 00:13:32,880 Speaker 1: or six months of savings. And you don't like your job, 253 00:13:33,000 --> 00:13:34,880 Speaker 1: you don't like your boss, or you don't like where 254 00:13:34,920 --> 00:13:38,680 Speaker 1: you live. You have options. You can quit your job, 255 00:13:39,559 --> 00:13:45,120 Speaker 1: you could move away, but if you don't have any savings. Unfortunately, 256 00:13:45,280 --> 00:13:49,080 Speaker 1: Kendre pain, she can't even afford to move. She has 257 00:13:49,120 --> 00:13:51,960 Speaker 1: to stay there and deal with it. So I say 258 00:13:52,000 --> 00:13:54,000 Speaker 1: this as a warning, like this is happening. It's only 259 00:13:54,040 --> 00:13:57,080 Speaker 1: gonna continue to get worse. So prepare, figure out how 260 00:13:57,120 --> 00:13:59,800 Speaker 1: to make some extra money. Work a second job, get 261 00:13:59,840 --> 00:14:03,720 Speaker 1: us id hustle going, save up some money, get a 262 00:14:03,720 --> 00:14:08,000 Speaker 1: water filtration system installed, put up a water catchment system. 263 00:14:08,040 --> 00:14:09,920 Speaker 1: This could be coming to a town near you. Now 264 00:14:10,080 --> 00:14:13,679 Speaker 1: it's not just water, it's everything. Now. I've been very 265 00:14:13,679 --> 00:14:16,680 Speaker 1: critical of the state that I'm from, California, and we 266 00:14:16,720 --> 00:14:20,240 Speaker 1: saw uh this week, big news came out in California. 267 00:14:20,440 --> 00:14:24,400 Speaker 1: California says they are going to stop or or or 268 00:14:24,800 --> 00:14:29,240 Speaker 1: make it illegal to sell ice vehicles, ices, internal combustion engines, 269 00:14:29,240 --> 00:14:32,120 Speaker 1: so gas powered cars. Um, they're gonna they're gonna say 270 00:14:32,160 --> 00:14:34,920 Speaker 1: that no more gas powered cars can be sold in 271 00:14:34,960 --> 00:14:39,200 Speaker 1: the state of California. After everything has to be electric vehicles. 272 00:14:39,480 --> 00:14:43,280 Speaker 1: That's it now. First of all, electric vehicles are pretty cool. 273 00:14:43,400 --> 00:14:46,280 Speaker 1: I don't have one. I've considered buying one. I've written 274 00:14:46,280 --> 00:14:49,240 Speaker 1: in lots of them. I like them. They're quiet, they're fast. Um. 275 00:14:49,280 --> 00:14:50,760 Speaker 1: I've looked at some of the new trucks that are 276 00:14:50,800 --> 00:14:52,760 Speaker 1: coming out. There's like a new Hummer that came out 277 00:14:52,760 --> 00:14:57,080 Speaker 1: for few electric vehicle. I drive a truck. Um, like, oh, 278 00:14:57,120 --> 00:14:58,680 Speaker 1: those are those are kind of cool. Maybe I should 279 00:14:58,720 --> 00:15:00,880 Speaker 1: get one, but they don't really practical for me. And 280 00:15:00,880 --> 00:15:02,920 Speaker 1: the reason why it's because I ride dirt bikes. So 281 00:15:02,960 --> 00:15:04,680 Speaker 1: I got to the desert. I like to camp way 282 00:15:04,680 --> 00:15:06,160 Speaker 1: out in the middle of nowhere on a desert and 283 00:15:06,200 --> 00:15:08,000 Speaker 1: camp and ride my dirt bike. I go down into 284 00:15:08,000 --> 00:15:10,520 Speaker 1: Baja California about an hour from the border. I like 285 00:15:10,600 --> 00:15:12,400 Speaker 1: to go down the Baja and go into the really 286 00:15:12,480 --> 00:15:14,560 Speaker 1: remote places and camp out there for a couple of 287 00:15:14,600 --> 00:15:16,560 Speaker 1: days at a time and surf and things like that. 288 00:15:17,160 --> 00:15:19,360 Speaker 1: How would an electric vehicle or how would electric truck 289 00:15:19,400 --> 00:15:21,600 Speaker 1: work for me? If I drive out to the desert 290 00:15:21,600 --> 00:15:24,360 Speaker 1: in California, we have lots of deserts. I love them, 291 00:15:24,800 --> 00:15:27,120 Speaker 1: Bureau of Land Management, because a lot of great options 292 00:15:27,160 --> 00:15:28,440 Speaker 1: to go to. How can I go out to the 293 00:15:28,480 --> 00:15:29,800 Speaker 1: desert and camp for a couple of days. How can 294 00:15:29,840 --> 00:15:31,200 Speaker 1: I go into Mexico for it and camp for a 295 00:15:31,200 --> 00:15:33,800 Speaker 1: few days and use my truck as my truck is 296 00:15:33,800 --> 00:15:36,760 Speaker 1: intended to be used if I have nowhere to plug 297 00:15:36,800 --> 00:15:39,320 Speaker 1: it in? So I get it, Like it's like electric 298 00:15:39,440 --> 00:15:41,200 Speaker 1: vehicles are cool, and like maybe I'll get one at 299 00:15:41,200 --> 00:15:43,040 Speaker 1: one point, but like, how would it work for me? 300 00:15:43,120 --> 00:15:44,680 Speaker 1: And now they're just gonna say you can't, you can't 301 00:15:44,680 --> 00:15:47,720 Speaker 1: have them anymore. But it's worse than that. So just 302 00:15:47,800 --> 00:15:51,840 Speaker 1: days after phasing out new gas cars, now California put 303 00:15:51,880 --> 00:15:56,240 Speaker 1: out an alert that says avoid charging electric vehicles. You 304 00:15:56,320 --> 00:15:59,520 Speaker 1: can't make this stuff up. California begin to head home 305 00:15:59,560 --> 00:16:02,000 Speaker 1: for the day to California Independent System Operator issued a 306 00:16:02,120 --> 00:16:06,160 Speaker 1: Level one emergency alert shortly after tapping all its available 307 00:16:06,200 --> 00:16:10,520 Speaker 1: power supplies. Despite earlier warnings to reduce usage, Californians and 308 00:16:10,560 --> 00:16:15,160 Speaker 1: all their self righteous virtue decided to charge their evs anyway, 309 00:16:15,480 --> 00:16:21,080 Speaker 1: pushing demand above capacity. Yeah, we you forced us, you 310 00:16:21,120 --> 00:16:23,080 Speaker 1: incentivize us, You told us to all go by these 311 00:16:23,080 --> 00:16:26,160 Speaker 1: electric vehicles, and now you can't even give us enough 312 00:16:26,160 --> 00:16:29,400 Speaker 1: electricity to charge electric vehicles. So now what I can't 313 00:16:29,440 --> 00:16:31,080 Speaker 1: go to work tomorrow and I'll just lose my job. 314 00:16:31,160 --> 00:16:33,000 Speaker 1: Is that what I'm supposed to do? I mean, the 315 00:16:33,040 --> 00:16:37,960 Speaker 1: insanity of this, the insanity of this, it says, Uh, 316 00:16:38,000 --> 00:16:41,200 Speaker 1: It's pretty clear mother nature has outrun us. California Gavin 317 00:16:41,280 --> 00:16:43,920 Speaker 1: Or Newsom UH issued an executive order Wednesday to free 318 00:16:43,960 --> 00:16:46,320 Speaker 1: up emergency power supplies. Set in a press release, Really, 319 00:16:46,880 --> 00:16:49,160 Speaker 1: we never had a problem this until you before, until 320 00:16:49,160 --> 00:16:50,640 Speaker 1: you shut down all the nuclear power plants and you 321 00:16:50,640 --> 00:16:53,000 Speaker 1: shut down the gas powered power plants. We never had 322 00:16:53,040 --> 00:16:56,200 Speaker 1: a problem before. So was it mother nature that causes 323 00:16:56,320 --> 00:16:59,360 Speaker 1: or was it your own policy decisions? If I'm being 324 00:16:59,480 --> 00:17:01,960 Speaker 1: nice and if being not nice, is it your own 325 00:17:01,960 --> 00:17:06,000 Speaker 1: ignorance and stupidity. Let's see, we didn't used to have 326 00:17:06,080 --> 00:17:09,080 Speaker 1: the problem before. Now we do have the problem. So 327 00:17:09,400 --> 00:17:13,800 Speaker 1: what changed? Oh? Climate change? Really? Look at the almanac? 328 00:17:14,000 --> 00:17:16,040 Speaker 1: Is it hotter today than it has been in the past. 329 00:17:16,160 --> 00:17:18,240 Speaker 1: As a matter of fact, no, the world is actually 330 00:17:18,240 --> 00:17:21,560 Speaker 1: going into a period of global cooling. What changed is 331 00:17:21,680 --> 00:17:25,360 Speaker 1: we shut down our generation plans. When you can't keep 332 00:17:25,359 --> 00:17:28,960 Speaker 1: the clean water going, when you can't keep the electricity on. 333 00:17:30,640 --> 00:17:34,879 Speaker 1: When you force people to not or not allow people 334 00:17:34,920 --> 00:17:39,920 Speaker 1: to buy a gas powered vehicle and then you tell 335 00:17:39,960 --> 00:17:42,520 Speaker 1: them they can't charge their electric ones because you can't 336 00:17:42,520 --> 00:17:45,840 Speaker 1: provide electricity, that is a sign you're at the end 337 00:17:45,880 --> 00:17:48,119 Speaker 1: of an empire. You're at the end of a civilization, 338 00:17:48,160 --> 00:17:51,640 Speaker 1: not a civilization out of an an empire. Were swinging 339 00:17:51,680 --> 00:17:55,320 Speaker 1: from a period of centralization to decentralization. It's coming. It 340 00:17:55,440 --> 00:17:58,080 Speaker 1: can't be stopped. It can only be slowed down, maybe 341 00:17:58,119 --> 00:18:01,359 Speaker 1: if the leaders reverse course. But I'm not betting on that, 342 00:18:01,480 --> 00:18:04,320 Speaker 1: and neither should you take appropriate actions. Put a generator 343 00:18:04,359 --> 00:18:06,080 Speaker 1: in your house. You can go buy one, go to 344 00:18:06,119 --> 00:18:07,920 Speaker 1: Harbor Freight for a couple hundred bucks. You can get 345 00:18:07,920 --> 00:18:09,919 Speaker 1: a generator and you don't have to worry about these 346 00:18:09,960 --> 00:18:12,600 Speaker 1: idiotic things. Something you can do. Listen to the markmas 347 00:18:12,640 --> 00:18:14,680 Speaker 1: show talking about the decentralized revolution. I got a lot 348 00:18:14,680 --> 00:18:17,000 Speaker 1: more when I come back. Don't go away, I'll be 349 00:18:17,119 --> 00:18:19,679 Speaker 1: right back, all right, Welcome back. You are listening to 350 00:18:19,720 --> 00:18:22,199 Speaker 1: the Mark Moa show where we talk about the decentralized revolution. 351 00:18:22,240 --> 00:18:24,440 Speaker 1: Of course we look at it through the lens of politics, finance, 352 00:18:24,480 --> 00:18:30,280 Speaker 1: and technology. The technology being the bitcoin and cryptocurrency revolution 353 00:18:30,359 --> 00:18:32,600 Speaker 1: that's happening, and we look at it through the lens 354 00:18:32,600 --> 00:18:35,199 Speaker 1: of each of these political things and financial things and 355 00:18:35,240 --> 00:18:38,040 Speaker 1: technological things, and so they all show us that this 356 00:18:38,080 --> 00:18:40,560 Speaker 1: world is changing, Um, how we need to bob and 357 00:18:40,600 --> 00:18:42,679 Speaker 1: we how we need to move to to be prepared 358 00:18:42,720 --> 00:18:44,440 Speaker 1: for this, and of course what we needed to be 359 00:18:44,440 --> 00:18:46,560 Speaker 1: better off on the other side of this. And we 360 00:18:46,600 --> 00:18:51,000 Speaker 1: are now in the cryptocurrency space. I've been covering for 361 00:18:51,040 --> 00:18:55,120 Speaker 1: several months now, I think, uh five months now, we've 362 00:18:55,119 --> 00:18:58,200 Speaker 1: been covering the collapse of the cryptocurrency markets. Of course, 363 00:18:58,480 --> 00:19:01,760 Speaker 1: we saw first it was the crash of Terra Luna, 364 00:19:02,000 --> 00:19:04,560 Speaker 1: which was a U S Dollar stable coin, this algorithmic 365 00:19:04,600 --> 00:19:06,879 Speaker 1: stable coin. I covered that in great detail. You can 366 00:19:06,960 --> 00:19:09,199 Speaker 1: check it out on the Mark Moss podcast if you 367 00:19:09,240 --> 00:19:11,879 Speaker 1: want around my YouTube channel. All these shows UM if 368 00:19:11,920 --> 00:19:14,440 Speaker 1: you miss them live on the radio there on the podcast. Again, 369 00:19:14,520 --> 00:19:17,720 Speaker 1: just go to the I heart UM podcast player iTunes 370 00:19:17,760 --> 00:19:19,440 Speaker 1: wherever you listen to your podcasts, and just search Mark 371 00:19:19,480 --> 00:19:21,240 Speaker 1: Moss podcast you can find them and then you can 372 00:19:21,320 --> 00:19:24,199 Speaker 1: also watch them on YouTube as well. They're on my 373 00:19:24,320 --> 00:19:26,880 Speaker 1: Market Disruptors channels, So just search Mark Moss or market 374 00:19:26,920 --> 00:19:30,000 Speaker 1: disruptors on YouTube, and you'll find them all there, that is, 375 00:19:30,000 --> 00:19:31,880 Speaker 1: if you want to see me as you listen to me. 376 00:19:32,359 --> 00:19:34,159 Speaker 1: But I've covered this extensively and I'm not going to 377 00:19:34,280 --> 00:19:37,520 Speaker 1: dig into exactly what happened. But this, uh, this pegged 378 00:19:38,480 --> 00:19:41,960 Speaker 1: algorithmically pegged stable coin failed, which of course it did. 379 00:19:42,320 --> 00:19:45,080 Speaker 1: All pegs are meant to be broken. And when that collapsed, 380 00:19:45,080 --> 00:19:46,920 Speaker 1: it set off a domino chain of events. And then 381 00:19:47,400 --> 00:19:50,119 Speaker 1: we saw Celsius go down, and we saw you know, 382 00:19:50,800 --> 00:19:54,400 Speaker 1: um voyager go down, and we saw all these things 383 00:19:54,520 --> 00:19:57,680 Speaker 1: a block fi, random trouble and ft X at the 384 00:19:57,680 --> 00:19:59,879 Speaker 1: step in a belt ecosystem, all these things. It's not 385 00:20:00,000 --> 00:20:01,159 Speaker 1: don't want to talk about today. What I want to 386 00:20:01,160 --> 00:20:04,000 Speaker 1: talk about, though, is an update on Celsius, because I 387 00:20:04,080 --> 00:20:06,440 Speaker 1: know a lot of people were caught in this. A 388 00:20:06,480 --> 00:20:08,480 Speaker 1: lot of people got caught in in all of this. 389 00:20:09,240 --> 00:20:12,640 Speaker 1: And if you lost your money in Tera Luna, your 390 00:20:12,640 --> 00:20:16,280 Speaker 1: money's gone. You've lost your money, But depends on what 391 00:20:16,359 --> 00:20:18,320 Speaker 1: you lost and where you lost it, there could be 392 00:20:18,359 --> 00:20:20,360 Speaker 1: a chance you get some of your money back. And 393 00:20:20,400 --> 00:20:22,680 Speaker 1: so while I don't want you to hold your breath, 394 00:20:22,680 --> 00:20:23,880 Speaker 1: I do want to give you a little bit hope. 395 00:20:23,880 --> 00:20:25,400 Speaker 1: I want to keep you up to date on this information, 396 00:20:25,480 --> 00:20:27,840 Speaker 1: because if you're subject to this, maybe there's some hope. 397 00:20:27,880 --> 00:20:29,960 Speaker 1: Now again, if you lost money in Tera Luna, you're out. 398 00:20:30,160 --> 00:20:33,560 Speaker 1: When I was in Austin in June, I was at 399 00:20:33,600 --> 00:20:39,159 Speaker 1: the largest cryptocurrency conference called Consensus, and at the one 400 00:20:39,160 --> 00:20:41,720 Speaker 1: of they after our events, I met a guy who 401 00:20:41,720 --> 00:20:43,080 Speaker 1: came up to me and said, oh, Mark, I'm I'm 402 00:20:43,119 --> 00:20:44,800 Speaker 1: a big fan. I watched the show and you know, 403 00:20:44,960 --> 00:20:47,560 Speaker 1: on and on and so we started talking and Um 404 00:20:47,560 --> 00:20:49,160 Speaker 1: many had he had the worst story, and I felt 405 00:20:49,200 --> 00:20:50,879 Speaker 1: so bad for him. And he said, uh, you know, 406 00:20:51,400 --> 00:20:53,600 Speaker 1: he's in his fifties. He had this marketing company for 407 00:20:53,640 --> 00:20:56,720 Speaker 1: a long time, and um, he did really well. His 408 00:20:56,800 --> 00:20:59,080 Speaker 1: business did really really well. It was a successful business, 409 00:20:59,240 --> 00:21:00,920 Speaker 1: and he sold it. He had a really good exit, 410 00:21:01,600 --> 00:21:03,120 Speaker 1: probably the top of the market. I mean you sold 411 00:21:03,160 --> 00:21:04,840 Speaker 1: the last year too. I mean you did amazingly well. 412 00:21:05,600 --> 00:21:08,640 Speaker 1: And he wasn't sure exactly what his next career move 413 00:21:08,720 --> 00:21:11,040 Speaker 1: was going to be. Um, and so he took his 414 00:21:11,119 --> 00:21:13,359 Speaker 1: money that he got from the proceeds of business and 415 00:21:13,359 --> 00:21:14,760 Speaker 1: he put it in the stable coin tarily in a 416 00:21:14,760 --> 00:21:16,760 Speaker 1: stable coins because he could earned about twenty percent yield 417 00:21:16,760 --> 00:21:18,600 Speaker 1: on it, which was amazing. Who wouldn't want to earn 418 00:21:18,640 --> 00:21:22,600 Speaker 1: twenty on their money risk free? The problem was it 419 00:21:22,680 --> 00:21:26,199 Speaker 1: wasn't risk free, and he ended up losing all of 420 00:21:26,240 --> 00:21:27,920 Speaker 1: his money. So he took his in his whole career 421 00:21:27,960 --> 00:21:29,840 Speaker 1: as business, He's had all this time, his high value 422 00:21:29,880 --> 00:21:31,760 Speaker 1: exit that he had, and all this money saved up 423 00:21:31,800 --> 00:21:35,280 Speaker 1: for the next move, it's all gone. A man, I 424 00:21:35,320 --> 00:21:38,080 Speaker 1: just felt so horrible for him, and and and the 425 00:21:38,160 --> 00:21:40,960 Speaker 1: same that there's there's there's thousands, maybe maybe there's millions 426 00:21:40,960 --> 00:21:43,520 Speaker 1: of stories just like this. But I want update you 427 00:21:43,560 --> 00:21:45,560 Speaker 1: on on a Celsius if you're paying it, if if 428 00:21:45,840 --> 00:21:47,480 Speaker 1: if you had some money there, because maybe there's some 429 00:21:47,520 --> 00:21:50,800 Speaker 1: hope there. And so what happened is um if you 430 00:21:50,840 --> 00:21:52,920 Speaker 1: had money with Celsius, there's a few different ways you 431 00:21:52,960 --> 00:21:56,520 Speaker 1: could have money there. Alex mcsinski from Celsius would always say, hey, 432 00:21:56,520 --> 00:21:58,520 Speaker 1: you don't need to manage your own custody, you don't 433 00:21:58,520 --> 00:22:00,520 Speaker 1: have to keep your own keys. Put it on Celsius. 434 00:22:00,560 --> 00:22:01,920 Speaker 1: We'll keep it safe for you. And a lot of 435 00:22:01,920 --> 00:22:05,040 Speaker 1: people did, and they use Celsius for custody. Then I 436 00:22:05,080 --> 00:22:07,480 Speaker 1: could also take that those assets and I can earn 437 00:22:07,560 --> 00:22:09,959 Speaker 1: yield on them, meaning I could give them my bitcoin, 438 00:22:10,000 --> 00:22:12,000 Speaker 1: they'd pay me four or five or eight percent or 439 00:22:12,000 --> 00:22:15,240 Speaker 1: whatever they're paying yield um like a rental property or 440 00:22:15,280 --> 00:22:17,600 Speaker 1: something gives you cash flow. Or I could also borrow 441 00:22:17,640 --> 00:22:19,639 Speaker 1: against I could take a loan. So there was a custody, 442 00:22:19,800 --> 00:22:23,040 Speaker 1: there was a yield, and there was a loan product. Now, 443 00:22:23,359 --> 00:22:25,800 Speaker 1: if you were using a custody product of talking about 444 00:22:25,800 --> 00:22:28,840 Speaker 1: this extensively throughout the last several months, if you had 445 00:22:28,880 --> 00:22:32,400 Speaker 1: money there on custody, there might be something coming back 446 00:22:32,440 --> 00:22:35,919 Speaker 1: first before it goes to their any of the other places. 447 00:22:35,920 --> 00:22:40,200 Speaker 1: And the reason why is because per the terms of Celsius, 448 00:22:40,640 --> 00:22:43,239 Speaker 1: that money was not there's they were holding it on 449 00:22:43,359 --> 00:22:45,480 Speaker 1: behalf of others and it should not be subject to 450 00:22:46,160 --> 00:22:48,359 Speaker 1: the bankruptcy proceedings. And so at the beginning of the 451 00:22:48,440 --> 00:22:53,959 Speaker 1: month and in August one, um UH, a bunch of 452 00:22:54,000 --> 00:22:56,879 Speaker 1: many of the clients of the custody service hired a 453 00:22:56,920 --> 00:23:00,800 Speaker 1: lawyer to reclaim about two d million dollars. And so 454 00:23:00,880 --> 00:23:03,040 Speaker 1: these are customers who other who held their assets in 455 00:23:03,080 --> 00:23:05,600 Speaker 1: a custody account, all right, So they weren't earning yielded 456 00:23:05,640 --> 00:23:08,200 Speaker 1: en alone the head a custody account, and they hired 457 00:23:08,200 --> 00:23:10,680 Speaker 1: a legal counsel to try to get their money back, 458 00:23:11,320 --> 00:23:14,119 Speaker 1: and they said that there's about two hundred million dollars 459 00:23:14,119 --> 00:23:16,840 Speaker 1: of assets that are locked up in there, and they've 460 00:23:16,960 --> 00:23:19,000 Speaker 1: enlisted an attorney and if you're caught up in this, 461 00:23:19,080 --> 00:23:20,679 Speaker 1: you want to reach out to them the services of 462 00:23:20,800 --> 00:23:24,479 Speaker 1: Kyle j or Tease. Just google him. You can find 463 00:23:24,560 --> 00:23:26,520 Speaker 1: him kylog or Tease. He's a partner at a firm 464 00:23:26,560 --> 00:23:31,720 Speaker 1: called to Get Seagull and Seagull, Kyle Ortiz to get 465 00:23:31,800 --> 00:23:34,439 Speaker 1: Seagull and Seagull. So if you're if you're tied up 466 00:23:34,440 --> 00:23:36,600 Speaker 1: in that, maybe reach out to him. And basically there's 467 00:23:36,600 --> 00:23:39,879 Speaker 1: about three hundred members and um they raised about a 468 00:23:39,960 --> 00:23:43,080 Speaker 1: hundred thousand dollars pretty quickly to get the retainer for 469 00:23:43,119 --> 00:23:47,160 Speaker 1: the legal representation. And uh, he's trying to say, look, 470 00:23:47,480 --> 00:23:51,200 Speaker 1: this money should not be subject to the bankruptcy proceedings. 471 00:23:51,680 --> 00:23:53,840 Speaker 1: It should be able to come back to us. Because 472 00:23:53,880 --> 00:23:56,320 Speaker 1: we were only using Celsius for storage. It was technically 473 00:23:56,359 --> 00:23:59,280 Speaker 1: not their money. It was our money. Like I said, 474 00:23:59,280 --> 00:24:02,399 Speaker 1: it's different than the earned users or the or the 475 00:24:02,400 --> 00:24:04,840 Speaker 1: turn or the or the loan users because at that 476 00:24:04,880 --> 00:24:07,959 Speaker 1: point they had given away the rights to that. So 477 00:24:08,040 --> 00:24:09,639 Speaker 1: that was that was that was a little bit of 478 00:24:09,640 --> 00:24:12,000 Speaker 1: a development, and so like like I've been kind of 479 00:24:12,000 --> 00:24:15,800 Speaker 1: telling you maybe there's some hope potentially, but things have 480 00:24:16,119 --> 00:24:20,280 Speaker 1: gotten a little bit better since. As a matter of fact, 481 00:24:20,359 --> 00:24:24,040 Speaker 1: now these Celsius custodial account holders have petitioned now the 482 00:24:24,080 --> 00:24:27,800 Speaker 1: bankruptcy court and they're saying, hey, court, you need to 483 00:24:27,800 --> 00:24:31,080 Speaker 1: give us this back. So this is progressing and m 484 00:24:31,480 --> 00:24:34,160 Speaker 1: the company is still around. They're going through bankruptcy proceedings 485 00:24:34,240 --> 00:24:37,920 Speaker 1: right now. And these people who hold these cryptocurrency said, hey, 486 00:24:37,920 --> 00:24:40,960 Speaker 1: look this is our money. Uh, this isn't their money. 487 00:24:41,119 --> 00:24:42,600 Speaker 1: You need to give it back to us. We don't 488 00:24:42,600 --> 00:24:46,840 Speaker 1: need to wait until this happens. So that's good. It's 489 00:24:46,840 --> 00:24:50,280 Speaker 1: a good move. Now again, um, if you're caught up 490 00:24:50,320 --> 00:24:52,240 Speaker 1: in that, maybe reach out to that law firm. But 491 00:24:52,280 --> 00:24:55,159 Speaker 1: it gets even now, I hate to say better. I 492 00:24:55,200 --> 00:24:57,240 Speaker 1: don't want to fill you with false hope. But there's 493 00:24:57,240 --> 00:24:59,879 Speaker 1: been even a turn event. So now we saw just 494 00:25:00,040 --> 00:25:03,640 Speaker 1: this week crypto lenders Celsius now files to return custody 495 00:25:03,680 --> 00:25:06,080 Speaker 1: clients fund So now they said, hey, look, Celsius is 496 00:25:06,119 --> 00:25:08,119 Speaker 1: now saying look, hey, these are not part of the 497 00:25:08,119 --> 00:25:12,280 Speaker 1: bankruptcy state, unlike funds from the Urner, the borrow clients. 498 00:25:12,280 --> 00:25:15,800 Speaker 1: Celsius itself now is telling the bankruptcy court the same thing. 499 00:25:16,359 --> 00:25:19,320 Speaker 1: So they have actually filed a motion with bankruptcy court 500 00:25:19,359 --> 00:25:24,000 Speaker 1: to return custody holders funds to them ahead of whatever 501 00:25:24,119 --> 00:25:27,880 Speaker 1: may happen of the restructuring, ahead of the bankruptcy. According 502 00:25:27,920 --> 00:25:31,359 Speaker 1: to the filinge Celsius has about fifty eight thousand users 503 00:25:31,440 --> 00:25:36,040 Speaker 1: who hold about two million with its custody um products. 504 00:25:37,680 --> 00:25:39,880 Speaker 1: And uh, they told the Bankruptcy Court for the Southern 505 00:25:39,920 --> 00:25:42,280 Speaker 1: District of New York um, which is not scheduled to 506 00:25:42,280 --> 00:25:46,080 Speaker 1: happen until October six. So it's happening, but it's probably 507 00:25:46,119 --> 00:25:48,800 Speaker 1: gonna be another month before we get there. But they said, look, hey, 508 00:25:48,800 --> 00:25:52,680 Speaker 1: we filed for bankruptcy, but these are not part of it. Um. 509 00:25:52,720 --> 00:25:56,480 Speaker 1: They asked the court to allow Celsius to reopen withdraws 510 00:25:56,520 --> 00:25:59,600 Speaker 1: and liquidate its assets UM in order to make those 511 00:25:59,680 --> 00:26:03,719 Speaker 1: cust to ours whole. All right. Now, again, we don't know, 512 00:26:03,880 --> 00:26:06,800 Speaker 1: it's not guaranteed, but this is picking up steam. First, 513 00:26:06,960 --> 00:26:09,400 Speaker 1: a group of people got together, they hired an attorney, 514 00:26:09,480 --> 00:26:13,440 Speaker 1: they pushed it. Then Celsius saw this and they've actually 515 00:26:13,520 --> 00:26:17,399 Speaker 1: filed the same motion to go before the court, and 516 00:26:18,000 --> 00:26:20,919 Speaker 1: you know, we'll see if the court um upholds that 517 00:26:21,080 --> 00:26:25,120 Speaker 1: or not. But my thinking is that they should. Right, 518 00:26:25,480 --> 00:26:27,679 Speaker 1: we don't know, but we but we think they should. 519 00:26:27,680 --> 00:26:30,639 Speaker 1: And the reason why is because per the terms of 520 00:26:30,680 --> 00:26:35,760 Speaker 1: service on Celsius, those funds held in custody were not um, 521 00:26:36,400 --> 00:26:40,960 Speaker 1: they were not owned by Celsius. All right, So anyway, 522 00:26:41,200 --> 00:26:43,240 Speaker 1: check it out if you have money on there. There 523 00:26:43,440 --> 00:26:46,119 Speaker 1: is a chance. One of the one of the funny 524 00:26:46,160 --> 00:26:49,960 Speaker 1: lines from a movie, that movie Dumb and Dumber, um, 525 00:26:50,080 --> 00:26:51,399 Speaker 1: when he was hoping to get a date with the 526 00:26:51,440 --> 00:26:55,280 Speaker 1: girl and uh, she's He's like, what's the chance we 527 00:26:55,280 --> 00:26:57,040 Speaker 1: can go on a date? And he said, like one 528 00:26:57,040 --> 00:26:59,480 Speaker 1: in a million and he goes. So you're saying, there's 529 00:26:59,480 --> 00:27:01,600 Speaker 1: a chance, and uh, maybe it's a one a million, 530 00:27:01,640 --> 00:27:04,160 Speaker 1: but at least there's a chance. You have some hope. 531 00:27:04,200 --> 00:27:06,199 Speaker 1: Don't hold your breath, but there's some there's some hope. Um, 532 00:27:06,240 --> 00:27:08,000 Speaker 1: if you want to reach out to the attorney, I mean, 533 00:27:08,040 --> 00:27:10,719 Speaker 1: you can just search any of this on on on 534 00:27:10,760 --> 00:27:13,000 Speaker 1: Google and you can find it, um, but reach out 535 00:27:13,000 --> 00:27:14,439 Speaker 1: to him, get your name on the list if that 536 00:27:14,560 --> 00:27:16,680 Speaker 1: involves you. You're listening to the Markmas show, keeping you 537 00:27:16,720 --> 00:27:19,280 Speaker 1: up to date on exactly what's happening on play by plays, 538 00:27:19,359 --> 00:27:22,480 Speaker 1: play by pay play basis. Blah blah blah, sorry about that. 539 00:27:23,440 --> 00:27:25,639 Speaker 1: As the world is changing from a centralized world to 540 00:27:25,680 --> 00:27:29,440 Speaker 1: a decentralized world, of course, the catalyst being the technology, 541 00:27:29,480 --> 00:27:32,560 Speaker 1: which is bitcoin and cryptocurrencies, and looking at through the 542 00:27:32,600 --> 00:27:37,080 Speaker 1: lens of both politics, finance, and technology, of course. But 543 00:27:37,720 --> 00:27:41,080 Speaker 1: I got even more to come. I got a big 544 00:27:41,119 --> 00:27:43,400 Speaker 1: one and this affects you no matter where you live. 545 00:27:43,760 --> 00:27:45,320 Speaker 1: This is big and you need to be prepared for 546 00:27:45,359 --> 00:27:47,800 Speaker 1: what's happening. So you're listening to the markmas Show. I 547 00:27:47,840 --> 00:27:50,520 Speaker 1: got another big one coming in a minute. Don't go away, 548 00:27:51,080 --> 00:27:53,480 Speaker 1: I'll be right back, all right, welcome back. You are 549 00:27:53,520 --> 00:27:55,439 Speaker 1: listening to the Mark Moa Show. We talked about the 550 00:27:55,520 --> 00:27:58,080 Speaker 1: decentralized revolution. Each and every week, of course, we talk 551 00:27:58,119 --> 00:28:01,359 Speaker 1: about the way the world is changing, looking at it 552 00:28:01,359 --> 00:28:05,200 Speaker 1: through the lens of politics, finance, and technology. We look 553 00:28:05,200 --> 00:28:07,040 Speaker 1: at those three because that's really what it takes to 554 00:28:07,080 --> 00:28:10,840 Speaker 1: get a complete view. Otherwise you're just kind of seeing 555 00:28:10,840 --> 00:28:14,119 Speaker 1: part of the picture. It's like, um, it's like if 556 00:28:14,160 --> 00:28:17,200 Speaker 1: you're putting a puzzle together and uh, you just see 557 00:28:17,200 --> 00:28:20,000 Speaker 1: one piece, right, and you can't see the whole picture 558 00:28:20,080 --> 00:28:22,920 Speaker 1: right once. Once the puzzle starts getting put together better, 559 00:28:23,200 --> 00:28:25,480 Speaker 1: you start to kind of make some sense out of it. Um. 560 00:28:25,480 --> 00:28:28,200 Speaker 1: And that's exactly why we look at this whole picture 561 00:28:28,400 --> 00:28:31,080 Speaker 1: to kind of understand what's going on now. Big news 562 00:28:31,160 --> 00:28:35,199 Speaker 1: this week the Federal Reserve got together, Not just the 563 00:28:35,200 --> 00:28:37,760 Speaker 1: Federal Reserve, the Central Bank of the United States, but 564 00:28:38,120 --> 00:28:41,960 Speaker 1: central bankers from all around the world got together, and 565 00:28:42,000 --> 00:28:45,600 Speaker 1: they get together once a year in Jackson Holdwyoming to 566 00:28:45,760 --> 00:28:49,160 Speaker 1: discuss what they're gonna do with the markets. Are they 567 00:28:49,160 --> 00:28:51,280 Speaker 1: going to continue to pump money into the markets. Are 568 00:28:51,280 --> 00:28:52,800 Speaker 1: they're gonna pull money and out of the market. They're 569 00:28:52,800 --> 00:28:56,600 Speaker 1: gonna raise rates, are gonna lower rates? Basically, um, all 570 00:28:56,640 --> 00:29:00,400 Speaker 1: of our lives hanging their balance. The leader crush our 571 00:29:00,440 --> 00:29:04,160 Speaker 1: retirements accounts in our house, or they'll pump them back 572 00:29:04,240 --> 00:29:07,000 Speaker 1: up for us. We all feel good when our retirement 573 00:29:07,040 --> 00:29:08,960 Speaker 1: accounts in our house goes up in value, and we 574 00:29:08,960 --> 00:29:13,000 Speaker 1: all feel poor when they go down. And it's all 575 00:29:13,080 --> 00:29:14,800 Speaker 1: up to the Fed. It's all to the central bankers. 576 00:29:14,920 --> 00:29:17,440 Speaker 1: What are they gonna do now? Of course, their hands 577 00:29:17,440 --> 00:29:20,800 Speaker 1: are somewhat tied. They you know, they want to pump 578 00:29:20,880 --> 00:29:22,920 Speaker 1: up the assets for all their buddies on Wall Street. 579 00:29:23,120 --> 00:29:25,320 Speaker 1: The problem is the more they continue to ease the 580 00:29:25,360 --> 00:29:29,920 Speaker 1: monetary policy and pump markets back up, then inflation rages on. 581 00:29:30,200 --> 00:29:32,480 Speaker 1: Prices continue to go up. And the problem is when 582 00:29:32,480 --> 00:29:35,239 Speaker 1: the price of gas and food and homes goes up 583 00:29:35,240 --> 00:29:37,720 Speaker 1: so high, then people get restless and then we have 584 00:29:37,760 --> 00:29:41,560 Speaker 1: civil unrest. And so they're caught between, you know, the 585 00:29:41,680 --> 00:29:45,000 Speaker 1: proverbial rock and a hard place where if they continue 586 00:29:45,040 --> 00:29:48,920 Speaker 1: to ease monetary policy, continue to increase the supply, keep 587 00:29:48,920 --> 00:29:51,600 Speaker 1: it rates low, then prices continue to get higher and 588 00:29:51,680 --> 00:29:55,160 Speaker 1: higher and higher, and people are going to revolt. Or 589 00:29:55,360 --> 00:29:58,440 Speaker 1: they can stop increase the money supply and increase rates 590 00:29:59,320 --> 00:30:01,240 Speaker 1: and then prices won't go up anymore. But now you 591 00:30:01,280 --> 00:30:03,440 Speaker 1: won't have a job, and your retirement accounts in your 592 00:30:03,440 --> 00:30:07,480 Speaker 1: house crashes, and people revolt. So what do they do? 593 00:30:07,800 --> 00:30:10,120 Speaker 1: That's why the proverbial rock and a hard place. And 594 00:30:10,120 --> 00:30:11,760 Speaker 1: so they all got together, the central bankers got together 595 00:30:11,800 --> 00:30:14,560 Speaker 1: in Wyoming this week to talk about just to that 596 00:30:14,640 --> 00:30:19,880 Speaker 1: what are they gonna do? And I'm just gonna just 597 00:30:19,880 --> 00:30:21,360 Speaker 1: gonna lay it out for you. I'm gonna be honest 598 00:30:21,400 --> 00:30:23,720 Speaker 1: with you, and I'm not going to sugarcoat this. It's 599 00:30:23,760 --> 00:30:26,720 Speaker 1: not good. It's not good. As a matter of fact, 600 00:30:27,200 --> 00:30:34,360 Speaker 1: it's pretty bad. They basically conceded. They basically had to 601 00:30:34,440 --> 00:30:39,880 Speaker 1: admit that their primary goal is to bring prices down, 602 00:30:40,120 --> 00:30:45,960 Speaker 1: consumer price inflation down, UM and damned if that crushes 603 00:30:46,000 --> 00:30:54,480 Speaker 1: the economy, damned, if that UM kills jobs, Damned, if 604 00:30:54,520 --> 00:30:56,680 Speaker 1: you lose your job, damned, if your retirement like that. 605 00:30:56,720 --> 00:30:58,720 Speaker 1: That's basically what they said. It's a pretty big deal. 606 00:31:00,320 --> 00:31:02,160 Speaker 1: So you need to be aware of that. Now. I've 607 00:31:02,160 --> 00:31:03,960 Speaker 1: talked about this for quite some time. The FED has 608 00:31:04,000 --> 00:31:06,600 Speaker 1: told us as much. Right, if they need to bring 609 00:31:06,640 --> 00:31:10,280 Speaker 1: prices down, there's two levers. Simple, I'll play you the 610 00:31:10,280 --> 00:31:11,880 Speaker 1: audio clips. If you're tune of meach And every week, 611 00:31:11,880 --> 00:31:13,520 Speaker 1: then you're already ahead of this. You already know about this. 612 00:31:13,760 --> 00:31:16,120 Speaker 1: But there's two levers. Right. They can increase supplier, they 613 00:31:16,120 --> 00:31:18,960 Speaker 1: can lower demand, but of course the FED can't print 614 00:31:19,120 --> 00:31:21,920 Speaker 1: more steak or gas or milk, and so they can 615 00:31:22,000 --> 00:31:24,040 Speaker 1: only lower demand. And so that's of course what they're 616 00:31:24,040 --> 00:31:25,840 Speaker 1: trying to do. They're trying to crush demand, and they 617 00:31:25,880 --> 00:31:29,920 Speaker 1: do that by making you feel poor. If they make 618 00:31:30,000 --> 00:31:33,720 Speaker 1: you feel poor, then you don't take a vacasion. You 619 00:31:33,720 --> 00:31:35,240 Speaker 1: don't buy a new car, you don't buy a new house, 620 00:31:35,240 --> 00:31:38,240 Speaker 1: you don't go out to dinner, and the prices come down. 621 00:31:39,000 --> 00:31:44,640 Speaker 1: But the problem is is the quiet part they're now 622 00:31:44,760 --> 00:31:48,960 Speaker 1: saying out loud. There's a couple I have the speech 623 00:31:49,320 --> 00:31:50,880 Speaker 1: of Jerome pal here in front of me. There's a 624 00:31:50,920 --> 00:31:52,880 Speaker 1: couple of things that I wanted to just mention directly 625 00:31:52,920 --> 00:31:54,920 Speaker 1: from his speech. I'm gonna read it word for word 626 00:31:55,000 --> 00:31:58,680 Speaker 1: from him. And he says, uh, you know, the ever 627 00:31:58,800 --> 00:32:01,800 Speaker 1: changing structure of the economy, the challenges of conducting monetary 628 00:32:01,800 --> 00:32:04,160 Speaker 1: policy under high uncertainty. So what he's saying is that 629 00:32:04,560 --> 00:32:06,320 Speaker 1: we don't know what the heck we're doing. It's it's 630 00:32:06,480 --> 00:32:10,120 Speaker 1: it's so it's high high uncertainty. We have no idea 631 00:32:10,160 --> 00:32:11,840 Speaker 1: what's going to happen, and we don't know what to do. 632 00:32:11,880 --> 00:32:14,760 Speaker 1: So it's challenging. That's what he said. That's his words. Um, 633 00:32:14,800 --> 00:32:16,960 Speaker 1: he says, our focus is to bring inflation down to 634 00:32:17,000 --> 00:32:19,880 Speaker 1: our two percent goal. Okay, so the goal has always 635 00:32:19,880 --> 00:32:25,520 Speaker 1: been two percent. Twenty they kept saying, we can't get inflation, 636 00:32:25,560 --> 00:32:27,440 Speaker 1: we can't get inflation, we can't get the two percent 637 00:32:27,520 --> 00:32:31,320 Speaker 1: we want. Finally, in March April they said we can't 638 00:32:31,320 --> 00:32:33,960 Speaker 1: get the two percent. We're just gonna overshoot it, they said, quote, 639 00:32:34,000 --> 00:32:36,960 Speaker 1: we're gonna let it run hot. Well that they did. 640 00:32:37,200 --> 00:32:39,880 Speaker 1: They couldn't get to two percent. They ended up at nine. 641 00:32:40,840 --> 00:32:42,600 Speaker 1: So their goal is too. They got to nine. Now 642 00:32:42,960 --> 00:32:45,440 Speaker 1: their goal is to get back down to two percent. 643 00:32:45,520 --> 00:32:47,400 Speaker 1: Do you think they can hit two percent exactly? Or 644 00:32:47,440 --> 00:32:50,880 Speaker 1: they're going to overshoot that as well. My money is 645 00:32:50,880 --> 00:32:53,600 Speaker 1: that they overshoot that as well. Um, he says, quoting 646 00:32:53,760 --> 00:32:56,480 Speaker 1: him again. Without price stability, the economy does not work 647 00:32:56,480 --> 00:32:59,920 Speaker 1: for anyone. In particular, Without price stability, we will not 648 00:33:00,200 --> 00:33:04,160 Speaker 1: achieve a sustained period of strong labor market. What does 649 00:33:04,160 --> 00:33:06,760 Speaker 1: that mean? We won't have a long a strong labor market. 650 00:33:06,800 --> 00:33:09,120 Speaker 1: A strong labor market means you have a job and 651 00:33:09,200 --> 00:33:12,920 Speaker 1: your job pays you good money. A poor labor market 652 00:33:12,920 --> 00:33:15,200 Speaker 1: means you don't have a job, or the job you 653 00:33:15,280 --> 00:33:18,520 Speaker 1: get is crummy and it doesn't pay you enough. So 654 00:33:18,600 --> 00:33:21,000 Speaker 1: he says, we aren't gonna have a strong labor market. 655 00:33:21,640 --> 00:33:24,760 Speaker 1: He says, um, here this is this is this is 656 00:33:24,800 --> 00:33:31,520 Speaker 1: the bad part. Um. He says, higher interest rates, slower growth, 657 00:33:31,600 --> 00:33:35,479 Speaker 1: and softer labor market conditions will bring down inflation. So 658 00:33:35,560 --> 00:33:37,880 Speaker 1: in order to get to their goal. Now I'm I'm 659 00:33:37,920 --> 00:33:39,800 Speaker 1: interpreting for you. In order to get to their goal 660 00:33:39,800 --> 00:33:44,720 Speaker 1: of two percent, he says, quote, higher interest rates, slower growth, 661 00:33:44,880 --> 00:33:47,520 Speaker 1: and softer labor market conditions will bring that down. So 662 00:33:47,880 --> 00:33:51,920 Speaker 1: their goal is to keep raising rates, crush growth so 663 00:33:51,960 --> 00:33:54,920 Speaker 1: the economy doesn't grow. That means your business suffers, you 664 00:33:55,120 --> 00:33:58,680 Speaker 1: don't have more customers, etcetera. And a softer labor market, 665 00:33:58,720 --> 00:34:01,719 Speaker 1: so you lose your job, job pays you less money, etcetera. Now, 666 00:34:01,760 --> 00:34:07,560 Speaker 1: he says, quote quoting him, this will also bring pain 667 00:34:08,080 --> 00:34:12,400 Speaker 1: to households and businesses. So that's his words, we will 668 00:34:12,440 --> 00:34:14,960 Speaker 1: have to bring the pain to households and businesses. But 669 00:34:15,360 --> 00:34:21,280 Speaker 1: quoting him, these are the unfortunate costs of reducing inflation. 670 00:34:22,040 --> 00:34:25,399 Speaker 1: So I get it, man, I get it. You lost 671 00:34:25,440 --> 00:34:27,640 Speaker 1: your job, you can't find another job. You used to 672 00:34:27,719 --> 00:34:29,480 Speaker 1: have this really good job paying you good money, and 673 00:34:29,480 --> 00:34:31,440 Speaker 1: now you have to take a part time job. I 674 00:34:31,480 --> 00:34:35,239 Speaker 1: get it. It sucks, but it's the unfortunate cost of 675 00:34:35,280 --> 00:34:38,319 Speaker 1: reducing inflation. In order for us to look like we 676 00:34:38,360 --> 00:34:40,239 Speaker 1: know what we do and get it back from nine 677 00:34:40,280 --> 00:34:42,960 Speaker 1: back down to two, we're gonna have to crush the 678 00:34:43,120 --> 00:34:46,560 Speaker 1: labor market. That's his words. I read it directly directly 679 00:34:46,600 --> 00:34:50,160 Speaker 1: from his mouth. So that's big news this week again. 680 00:34:50,600 --> 00:34:55,320 Speaker 1: End of an empire. We have a global monetary system, 681 00:34:55,360 --> 00:34:58,240 Speaker 1: the dollar reserve standard. The dollar is the reserve currency 682 00:34:58,280 --> 00:35:01,440 Speaker 1: of the world, and it is breaking aparties at the end. 683 00:35:01,719 --> 00:35:04,520 Speaker 1: They're stuck there between the rock and the hard place. 684 00:35:04,640 --> 00:35:07,440 Speaker 1: There is no way out. Either way ends up with 685 00:35:07,520 --> 00:35:11,520 Speaker 1: people revolting. And that's it. Now. It's not just the 686 00:35:11,560 --> 00:35:13,680 Speaker 1: stock market that's that's hinging on this. As a matter 687 00:35:13,680 --> 00:35:15,840 Speaker 1: of fact, the real estate market is falling off of 688 00:35:15,880 --> 00:35:20,800 Speaker 1: a cliff. I saw this week that searches on Google 689 00:35:20,920 --> 00:35:23,000 Speaker 1: you can see trends by seeing what people are searching. 690 00:35:23,000 --> 00:35:25,480 Speaker 1: More on Google, searchers for quotes sell my house have 691 00:35:25,600 --> 00:35:29,239 Speaker 1: exploded a hundred in the United States as of July, 692 00:35:30,160 --> 00:35:36,600 Speaker 1: the highest level in Internet history for America, in history. 693 00:35:36,760 --> 00:35:39,920 Speaker 1: So um, the US. The US housing market is falling 694 00:35:39,920 --> 00:35:42,719 Speaker 1: off of a cliff and everybody is frantic to try 695 00:35:42,719 --> 00:35:44,759 Speaker 1: to sell their home. The top ten states searching to 696 00:35:44,800 --> 00:35:51,040 Speaker 1: sell their house the most are one Mississippi to Connecticut three, Virginia, four, Wyoming, five, Florida, 697 00:35:51,239 --> 00:35:55,520 Speaker 1: surprisingly six, Iowa, seven, New Mexico eight, North Carolina nine 698 00:35:55,560 --> 00:36:01,560 Speaker 1: New York and ten Kentucky mark its are crashing, and 699 00:36:01,600 --> 00:36:03,560 Speaker 1: a lot of people think that they don't want them 700 00:36:03,560 --> 00:36:05,480 Speaker 1: to crash, and they're gonna save them, and they're gonna pivot. 701 00:36:06,480 --> 00:36:09,160 Speaker 1: They're gonna start easing policy. They'll lower rates again, they'll 702 00:36:09,160 --> 00:36:10,920 Speaker 1: pump money back into the markets. They have to write. 703 00:36:10,960 --> 00:36:13,839 Speaker 1: They don't want him to crash. That's not what that's 704 00:36:13,840 --> 00:36:16,359 Speaker 1: not what he said. That's not his words. He says. 705 00:36:16,400 --> 00:36:20,480 Speaker 1: In order we're committed, he says, quote focus right now 706 00:36:20,520 --> 00:36:23,279 Speaker 1: is to bring inflation back down to two percent, that's 707 00:36:23,320 --> 00:36:26,080 Speaker 1: his quote. In order to do that, we have to 708 00:36:26,160 --> 00:36:28,600 Speaker 1: raise interest rates, slow growth, and soften the labor market, 709 00:36:28,600 --> 00:36:30,920 Speaker 1: a crush the labor market. And these are the This 710 00:36:30,960 --> 00:36:33,239 Speaker 1: will bring pain to households and businesses. And these are 711 00:36:33,280 --> 00:36:37,239 Speaker 1: the unfortunate costs of reducing inflation. Either one leads to 712 00:36:37,400 --> 00:36:40,920 Speaker 1: destruction and the end of the dollar as we know it. 713 00:36:41,520 --> 00:36:43,920 Speaker 1: That's the decentralized revolution. Of course, we have another money 714 00:36:43,960 --> 00:36:46,400 Speaker 1: ready to go, and of course that's a bitcoin. So 715 00:36:46,480 --> 00:36:50,200 Speaker 1: that's the catalyst technologies of catalyst behind this change. And 716 00:36:50,239 --> 00:36:53,560 Speaker 1: so at least we have hope that as one system 717 00:36:53,640 --> 00:36:56,319 Speaker 1: is dying, another system is rising up. And so It's 718 00:36:56,360 --> 00:36:58,560 Speaker 1: kind of like you're on the Titanic, the Titanic sinking, 719 00:36:58,560 --> 00:37:01,120 Speaker 1: but there's lifeboats. Man. You can jump into the lifeboat. 720 00:37:01,160 --> 00:37:02,800 Speaker 1: You can get off the Titanic. You don't have to 721 00:37:02,840 --> 00:37:06,160 Speaker 1: go down with the ship. You can operate outside of 722 00:37:06,200 --> 00:37:09,560 Speaker 1: the main system in a parallel monetary system, and that 723 00:37:09,640 --> 00:37:12,279 Speaker 1: monitor that that parallel monetary system opens up all the 724 00:37:12,320 --> 00:37:17,879 Speaker 1: parallel structures economies as well. There's hope. Anyway, you listening 725 00:37:17,880 --> 00:37:19,279 Speaker 1: to the Mark Maas Show giving you a play by 726 00:37:19,320 --> 00:37:21,560 Speaker 1: play on the decentralized Revolution. That's what I got for 727 00:37:21,600 --> 00:37:23,080 Speaker 1: you to this week. Thanks for listening.