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Speaker 1: Is the banking collapse being used to usher in central

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Speaker 1: bank digital currencies. Well, that's a big problem, that's a

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Speaker 1: big threat. A lot of people are speculating that central

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Speaker 1: bank digital currencies will be used in this banking crisis

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Speaker 1: that's leading to this consolidation and the inevitable push. I'm

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Speaker 1: gonna be sitting down today with Bruce Fenton. We're gonna

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Speaker 1: discuss this. We're gonna talk about freedom from a broad perspective.

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Speaker 1: We're gonna talk about freedom states in the state of

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Speaker 1: New Hampshire. We're gonna then move into kind of the

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Speaker 1: politics side. What he learned running for US Senate, Get

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Speaker 1: inside the belly of the beast, go through the banking system,

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Speaker 1: the eventual push to central bank digital currencies, of course,

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Speaker 1: the big risk that that poses, and as well, how

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Speaker 1: we can push back and how we can fight this.

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Speaker 1: It was a great conversation with Bruce, one that I enjoyed.

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Speaker 1: You're gonna enjoy it too. So let's go ahead. Just

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Speaker 1: jump right in, all right, Bruce, thanks so much for

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Speaker 1: joining me. A little bit of technical difficulties on your

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Speaker 1: end last week, am I in. But here we are, man,

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Speaker 1: You've been around a long time. You've done a lot

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Speaker 1: of different things. There's a lot of things I want

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Speaker 1: to dig into here, but let's start a little bit

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Speaker 1: just kind of setting the stage with with with your background. Um.

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Speaker 1: You know, I know you've done a lot of things

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Speaker 1: in the technology space, you know, bitcoin space, financial space,

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Speaker 1: but also dipping your toe into politics. I think you

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Speaker 1: were running for a Senate seat, is that right? Yeah? Yeah,

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Speaker 1: over the summer I ran for I ran for US

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Speaker 1: Senate representing New Hampshire. So, um, just about a year ago.

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Speaker 1: I was in that process and I you know, I

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Speaker 1: announced about a year ago and I was you know,

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Speaker 1: I ran through November. Um, and I didn't win the primary,

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Speaker 1: but it was a great experience. I was kind of

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Speaker 1: a long shot. I jumped in late and I had

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Speaker 1: never had much experience with politics, and so it was

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Speaker 1: sort of a long shot, but it was a great

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Speaker 1: way to get my ideas out there. I got to

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Speaker 1: be in the national debates with the other candidates, and

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Speaker 1: you know, really kind of got a PhD in politics

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Speaker 1: over the over the summer. So so I'm glad I did.

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Speaker 1: What are some of the takeaways of your PhD in politics?

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Speaker 1: What'd you find out your ideas don't really matter, um

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Speaker 1: you know you and really even who you are, if

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Speaker 1: you're a good speaker, bad speaker, charismatic, not arithmatic. That

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Speaker 1: stuff is all, you know, a far, far, far distant

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Speaker 1: second to how much money you raise. You know, the

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Speaker 1: politics is a multideck, a billion dollar business with a

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Speaker 1: lot of very motivated people to you know, perpetuate this

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Speaker 1: status quo. There's a lot of people making high six

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Speaker 1: figures even seven figure salaries, consultants and media experts and

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Speaker 1: all of these other people that are in this political system.

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Speaker 1: And it's very, very very competitive, with high stakes and

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Speaker 1: a lot of money. So it's become a commodity. It's

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Speaker 1: like if you want to if you want to have

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Speaker 1: a new soda, you know, you want to compete against

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Speaker 1: Coca Cola or something, the smart vcs will tell you

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Speaker 1: that's almost impossible. You know, you just have to spend

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Speaker 1: a fortune on marketing. Nobody really cares if your soda

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Speaker 1: tastes a little bit better than the other person's soda.

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Speaker 1: And that's sort of the way it is with politics.

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Speaker 1: Nobody really cares that much about your ideas. It comes

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Speaker 1: down voters are just you know, basically driven by how

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Speaker 1: much you spend and they have it almost down to

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Speaker 1: the penny. You know, it costs you know, fifteen dollars

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Speaker 1: twenty two cents a vote in this district or that district. Um,

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Speaker 1: So that's that's kind of unfortunate, you know, I know

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Speaker 1: that's a reality of it. I wish it was different,

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Speaker 1: you know, I wish people would care more about the issues.

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Speaker 1: But you know, that's one reality of it. But you

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Speaker 1: know politics is as very much dominated by money. Is

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Speaker 1: that because of the repetition where they just need to

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Speaker 1: see your name over and over and over. So when

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Speaker 1: they go to vote, they don't really know who they're

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Speaker 1: voting for, but they recognize the name. So there's happened

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Speaker 1: to vote for the name they recognize. Yeah, yeah, it's

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Speaker 1: there's a lot to it. For one thing, not that

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Speaker 1: many people vote. Um, the average voter here in New

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Speaker 1: Hampshire is seventy years old. Um. You know, it's only

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Speaker 1: a small especially in primaries. You know, it's a it's

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Speaker 1: a fraction of a fraction. You know, most people just

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Speaker 1: don't vote, don't bother. Um. So the ones that do,

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Speaker 1: it's a very predictable set of metrics, Like you know,

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Speaker 1: they know exactly how many times you have to have

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Speaker 1: name recognition, you know, have your um, you know, kind

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Speaker 1: of touched these voters with with mail or television or whatever.

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Speaker 1: And it really is the name of the game, you know,

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Speaker 1: your ideas, you know, don't don't or nearly as much

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Speaker 1: as just you know, repeating and getting that that kind

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Speaker 1: of name recognition out there, unless unless somebody like Elon

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Speaker 1: ran for office, or in Trump's case, when Trump ran,

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Speaker 1: you know, he was already very famous. Well, they've already

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Speaker 1: got the name recognition, they've already got the brand. Uh,

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Speaker 1: why why would you want to subject yourself to that?

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Speaker 1: I mean, you said you jumped in last minute, so

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Speaker 1: it wasn't something that was like pre pre planned and meditated.

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Speaker 1: So what made you judcide? Do you want to jump

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Speaker 1: into that? Yeah? You know, I mean part part of

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Speaker 1: the reason I lost, frankly, is because I probably, um,

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Speaker 1: I don't want to say I didn't try. I tried.

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Speaker 1: I tried, but I did it my own way. I

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Speaker 1: didn't play a lot of the political games, and partly

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Speaker 1: because I didn't really want the job, you know, Frankly,

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Speaker 1: like I don't really want to go down there. I mean,

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Speaker 1: it wasn't an exciting thing to go down there. It

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Speaker 1: was sort of like a duty, you know, like like

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Speaker 1: serving in the military or something. I viewed it as

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Speaker 1: almost like a deployment, you know. If I would have won,

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Speaker 1: I would have dreaded it, you know. And and my

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Speaker 1: my youngest son, the night that I lost the primary,

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Speaker 1: he said, to be honest, Dad, I'm kind of glad

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Speaker 1: you you didn't win. And then, you know, I totally

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Speaker 1: agree with that. I mean, i'd be I'd be miserable

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Speaker 1: in DC. And I've thought about that many times since January,

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Speaker 1: which is where I would have been sworn in, you know.

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Speaker 1: I mean, it would be an absolute miserable, miserable. But

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Speaker 1: our country needs it. Our country's in trouble. There's a

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Speaker 1: lot of serious stuff going on. And if I could

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Speaker 1: help in some small way, which is really all a

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Speaker 1: senator can do. Senators can't help in a big way,

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Speaker 1: they could help in a small way, then I think

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Speaker 1: that would be worth it, if I could help our country.

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Speaker 1: So I would have done it, and I would have served,

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Speaker 1: but I wasn't psyched about it for sure. So what

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Speaker 1: are some of those big things that are happening that

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Speaker 1: that caught you so concerned, do you want to jump in? Well,

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Speaker 1: you know, big picture, we're in a fourth turning, you know,

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Speaker 1: where this time of epic change, you know, the kind

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Speaker 1: of times that you only see every century or so,

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Speaker 1: where you know, money systems change, borders change, and you

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Speaker 1: know clearly you know this is this is a you know,

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Speaker 1: there's a book called The Fourth Turning which came out

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Speaker 1: in the nineties which talks about this, but they're not

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Speaker 1: the only ones. Historians and other others have talked about.

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Speaker 1: You know, how the world is cyclical and things change,

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Speaker 1: and empires rise and die, and power structures rise and fall.

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Speaker 1: And that's what we're going through right now, a very

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Speaker 1: epic time in human history, and we're either going to

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Speaker 1: go down a path of more tyranny or a path

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Speaker 1: of more freedom. You know, I like the path of decentralization, liberty,

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Speaker 1: human freedom, those kind of ideals. But there is a

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Speaker 1: very very significant movement in our government and globally down

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Speaker 1: the opposite path, a path of tyranny and controls CBDCs,

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Speaker 1: you know, central bank digital currencies, money that the government

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Speaker 1: can control, controlling aspects of health, controlling you know, telling

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Speaker 1: you to wear a mask or locking down businesses. These

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Speaker 1: kind of things wouldn't have been possible with governments in

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Speaker 1: and throughout most of American history, wouldn't have been possible.

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Speaker 1: So we've had a radical departure from our history and

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Speaker 1: the way that, in my opinion, things are supposed to

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Speaker 1: work down this experiment of socialism and wokeism and kind

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Speaker 1: of uh, you know, identity politics and things like that,

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Speaker 1: which I think are very destructive and antithetical to our

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Speaker 1: values as as a nation and our constitution. So it's

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Speaker 1: serious times, you know, and it's getting more serious now.

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Speaker 1: You know. There's a good chance of some sort of

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Speaker 1: global war or major global conflict. There's a good chance

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Speaker 1: of major economic meltdown. You know. These kind of things

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Speaker 1: are things I talked about last summer, and you know,

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Speaker 1: I'll have to pull up some of the those speeches

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Speaker 1: because a lot of it has come, you know, unfortunately

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Speaker 1: come true, some of my concerns about inflation and economics

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Speaker 1: and other things. Yeah, you know, as you said, I mean,

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Speaker 1: there's there's all a lot of work that's been done

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Speaker 1: in cycles. I've done a lot of work in the

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Speaker 1: cycles as well, the eighty year cycle. There's a book

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Speaker 1: written called the pendulum and talks about how the pendulum

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Speaker 1: swings back and forth on an eighty year cycle three

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Speaker 1: times eighty four eecles is two hundred fifty year cycle,

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Speaker 1: which is then this like big political revolution cycle. So

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Speaker 1: two unfreto years ago the American French Revolution two and

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Speaker 1: freto years before that was a Protestant Reformation. And it's

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Speaker 1: sort of like we just uh, sort of I mean cycles, right,

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Speaker 1: So it's like you go too far one way and

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Speaker 1: then you swing back the other way like a pen.

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Speaker 1: And so it swings between like centralization where we give

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Speaker 1: more and more and more and more to the governments

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Speaker 1: in the state, and then we've given so much, we

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Speaker 1: see how bad it is, and then we swing all

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Speaker 1: the way back to the other side, right, and we

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Speaker 1: probably go too far that way. And so I think

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Speaker 1: I've kind of talked about it. Like in markets, you

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Speaker 1: have like this blowoff top, right, where like markets keep

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Speaker 1: going up up up, like real estate boom. It's sucking

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Speaker 1: more and more people in and eventually because there's no

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Speaker 1: more buyers or you know bitcoin in twenty seventeen or

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Speaker 1: crypto in twenty seventeen, you know, it sucked all the

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Speaker 1: people in and then no more buyers and then it

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Speaker 1: blows off and so sort of like that, like we've

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Speaker 1: we've given more and more to the government, and just

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Speaker 1: take care of my retirement, take care of my education,

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Speaker 1: take care of my health care, and like eventually there's

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Speaker 1: nothing else to give them, Like they've gotten as big

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Speaker 1: and centralized as they can. We've seen how bad it is.

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Speaker 1: I'm hopeful that that we're at that blowoff top moment

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Speaker 1: and the pendulum is starting to swing back. It seems

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Speaker 1: like we're seeing signs of it all over right. I

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Speaker 1: mean that the global homogene is breaking apart. I mean,

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Speaker 1: look at what's going on in France just today, all

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Speaker 1: those big riots and things that are happening. So it's

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Speaker 1: like that's what's happening. But it's it's certainly a volatile time. Yeah,

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Speaker 1: I mean, I hope we're I hope we're swinging the

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Speaker 1: other way. You know, we've had a lot of tyranny,

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Speaker 1: uh you know, kind of things that were unrecognizable and

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Speaker 1: this is sort of a twenty year um you know

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Speaker 1: thing I think I think we go back twenty years

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Speaker 1: is where this has been headed. You know, more and

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Speaker 1: more government control, you know, after nine to eleven that

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Speaker 1: created the Department of Homeland Security didn't even exist before.

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Speaker 1: Now it's like three hundred. It's the domestic standing army

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Speaker 1: that our founders warned about, you know, three hundred and

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Speaker 1: fifty thousand people, you know, and they're they're doing like uh,

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Speaker 1: honor guards at the parades and the football games. And

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Speaker 1: think that they paid the NFL five million dollars to

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Speaker 1: have these TSA honor guards come out. You know, it's

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Speaker 1: just sort of bizarre. You know, the the this sort

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Speaker 1: of ever expanding state, and um we saw that manifested

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Speaker 1: most clearly in the last few years with with these

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Speaker 1: um you know, insane uh COVID policies. You know, the

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Speaker 1: idea that the government can tell you to lock down

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Speaker 1: in your home or stay home, or you have to

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Speaker 1: close your small business and somebody else can keep their

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Speaker 1: large business open. You know, these things are just you know,

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Speaker 1: totally unworkable. You know, they're exports, especially in the COVID

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Speaker 1: policy case. You know, they're direct exports from China. You know,

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Speaker 1: China influenced the who and the who influenced the United States.

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Speaker 1: But they're terrible ideas, you know, And we have the

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Speaker 1: same thing with censorship. You know, you have the government

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Speaker 1: involving themselves with things that you would have never seen. Um.

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Speaker 1: You know when I was growing up or even even

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Speaker 1: twenty years ago. You know, you wouldn't the idea that

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Speaker 1: the government would go and tell a private organization what

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Speaker 1: to say or not say, or censor or kick these

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Speaker 1: people off your platform. You know, these are very new

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Speaker 1: and dangerous ideas that are you know, totally against the constitution,

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Speaker 1: against everything that we stand for as a nation. So

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Speaker 1: hopefully people will finally get fed up and you know,

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Speaker 1: maybe the ship sort of rights itself. You know, I

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Speaker 1: think freedom is a good thing. You know, central planning

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Speaker 1: and central control doesn't work. Communism is a bad idea.

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Speaker 1: China will fail in my opinion, because it's bad economics.

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Speaker 1: It's a stupid idea. And uh, you know you can

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Speaker 1: you can live on fumes for quite a while if

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Speaker 1: you steal enough money from enough people and you enslave

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Speaker 1: enough people. I mean, look at the pharaohs of of

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Speaker 1: of old Um, you know, and people who ran slaves

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Speaker 1: and everything else. You know, you can you can prop

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Speaker 1: it up quite a bit on an artificial economy based

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Speaker 1: on theft and violence and cohersion. But at the end

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Speaker 1: of the day, I believe that the you know, free

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Speaker 1: markets and freedom is what made America great, and I

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Speaker 1: think that that's what we'll we'll come back again hopefully. Yeah.

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Speaker 1: Well that goes back to kind of the as you

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Speaker 1: were referencing the fourth turning, right, And so it's like

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Speaker 1: that generational theory where the hard times create the strong

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Speaker 1: men and then the good The strong men create great times,

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Speaker 1: great times, great weak men weak man create great bad times.

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Speaker 1: And so it's like those weak men creating bad times

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Speaker 1: are living off the fumes, as you said, right, So

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Speaker 1: the strong men create those good times and it carries

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Speaker 1: them on for a while. I mean, we can see

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Speaker 1: examples of that all over. I mean I like to

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Speaker 1: think about like Weimar Republic of Germany. Right, they went bankrupt.

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Speaker 1: They this massive, massive hyperinflation, they had to pay back

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Speaker 1: all these war reparations. I mean, the country was completely demolished,

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Speaker 1: really really really hard times, and Germany became the economic engine,

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Speaker 1: the powerhouse of Europe. Right, those extremely hard times made

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Speaker 1: them the strongest, most profitable country. But now look where

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Speaker 1: they are now. They've lost all reality, They've shut off

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Speaker 1: all their energy. Now they're deindustrializing now they've created really really,

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Speaker 1: really bad times for themselves. Yeah, we're totally seeing that,

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Speaker 1: and we see it with generations too, I mean, right

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Speaker 1: before our eyes. You know, there's a big difference between uh,

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Speaker 1: you know, kind of the Bob Hope generation, the Baby Boomers,

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Speaker 1: my generation Generation X, and then the millennials are very

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Speaker 1: distinct and then Gen Z. And my hope is that

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Speaker 1: you know, unfortunately, I think the millennials have it the worst,

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Speaker 1: and a lot of people kind of agree that's, you know,

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Speaker 1: one of the generations with a lot of challenges and frankly,

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Speaker 1: you know, that's a high percentage of the authoritarians and

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Speaker 1: status and people with these you know, bad ideas about

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Speaker 1: you know, identity politics and economics and socialism and everything.

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Speaker 1: A lot of them are millennials. But it's interesting, you know,

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Speaker 1: my kids are gen Z, you know, the real young kids.

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Speaker 1: A lot of them are very, very skeptical of politicians.

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Speaker 1: They're skeptical a lot of this identity politics and other

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Speaker 1: nonsense that's being crammed down their throats. And unfortunately, I

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Speaker 1: do fear that we're going to have hard times, and

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Speaker 1: I think that a lot of them are going to

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Speaker 1: grow up in a very different, uh, you know, type

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Speaker 1: of job market. You know, when I was a teenager

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Speaker 1: and in my early twenties, jar market was radically different,

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Speaker 1: radically different. You had adults doing unpaid internships, you had

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Speaker 1: commission only sales jobs were very very common. You know,

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Speaker 1: people would you know, sixty people would fight for one position,

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Speaker 1: and that, you know, the dot com bubble and other things,

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Speaker 1: you know, sort of changed that and made it much

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Speaker 1: more of an employee's market. But you have a lot

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Speaker 1: of employees that just don't produce. So I think you

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Speaker 1: could have, you know, again, the pendulum swing back the

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Speaker 1: other way, and unfortunately for gen Z, I think they're

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Speaker 1: going to get hit it hard by it. I think

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Speaker 1: that more of gen Z is not going to have

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Speaker 1: the kind of uh you know, the idea that you

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Speaker 1: just graduate from school and you know, the world is

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Speaker 1: handed to you. I think it'll be much more like

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Speaker 1: workers in the sixties, seventies, eighties, nineties, where I mean

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Speaker 1: you might have to work for free for two years,

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Speaker 1: you might have to do an internship or an unpaid

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Speaker 1: internship or an apprenticeship, or you may have to work

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Speaker 1: commission only. My first job was commissioned only. They paid me, um,

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Speaker 1: basically minimum wage. Uh for some of the hours I worked.

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Speaker 1: And you know, and this is at Morgan Stanley. You know,

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Speaker 1: Morgan Stanley had jobs that were you know, if you

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Speaker 1: worked at Morgan Stanley in the before my time, especially

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Speaker 1: in the eighties, most of the people didn't get paid

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Speaker 1: believe it or not. You know, one of the biggest banks,

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Speaker 1: you know it was, it was a big bank back then. Um,

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Speaker 1: you know, you'd you'd go in and it's like you

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Speaker 1: eat what you kill. If you if you make money

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Speaker 1: and you earn revenue, you can you can get a

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Speaker 1: bonus and commissions. Otherwise uh, you know you're out. Um. So,

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Speaker 1: so I think you'll probably have that and that you know,

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Speaker 1: I have high hop help for gen Z. You know,

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Speaker 1: they're really smart and creative and they're able to learn,

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Speaker 1: and they're embracing technology and everything. So you know, my

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Speaker 1: hope is that they are the new strong generation. Yeah. Well,

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Speaker 1: it's not a bad model. I mean, you can go

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Speaker 1: work for free and learn a valuable skill that you

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Speaker 1: can go then use to make money the rest of

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Speaker 1: your life. Or you can pay to go to an

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Speaker 1: overpriced college and learn nothing and come out come out

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Speaker 1: with no skills that are worth anything in the marketplace

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Speaker 1: and an entitled attitude. So maybe that wasn't such a

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Speaker 1: bad bad model back in the day. Maybe we kind

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Speaker 1: of need to go back to something like that. I'm

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Speaker 1: curious coming from New Hampshire where you're part of the

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Speaker 1: Free State Project that was there. Yeah. Yeah, and I'm

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Speaker 1: an active member. My wife's on the board. I signed

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Speaker 1: this Free State Pledge, we both did, I don't know,

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Speaker 1: a decade and a half ago or something, and there's

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Speaker 1: a non binding pledge that said you're gonna try and

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Speaker 1: get twenty thousand people to move to New Hampshire and

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Speaker 1: pursue the maximum role of government being the protection of life, liberty,

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Speaker 1: and property. So it's not necessarily libertarian, it could be.

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Speaker 1: You know. Originally we're saying kind of nonpartisan Republicans and Democrats.

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Speaker 1: You know, Unfortunately, I think the Democrats have gone so

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Speaker 1: far the other way. I don't think there's probably a

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Speaker 1: lot of Democrats they are members. Although originally it was

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Speaker 1: just kind of nonpartisan, like, hey, let's all pursue less government.

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Speaker 1: Because at the time when the Free State Project was created, uh,

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Speaker 1: you know, Democrats had an interest in reducing war, reducing

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Speaker 1: domestic spying, surveillance, uh, the NSA. You know, these kind

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Speaker 1: of issues that were we were talking about twenty years ago. Um,

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Speaker 1: were things that Democrats had a lot in common with libertarians.

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Speaker 1: But as politics changed, you know, it turned out they

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Speaker 1: they didn't really care as much about those issues as

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Speaker 1: they did about the alphabet letter next to their name. UM.

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Speaker 1: So it's so it tends to be you know more

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Speaker 1: you know, certainly liberty liberty, libertarian oriented, but it's not

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Speaker 1: you know, a nonpartisan group, um and very diverse because

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Speaker 1: there is uh, you know, so many people and a

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Speaker 1: lot of them are kind of not joiners or not

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Speaker 1: followers by nature. You know, a lot of even me,

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Speaker 1: you know, although I identify, you know, I don't necessally

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Speaker 1: like being put in a box or associated with other

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Speaker 1: people who may have different ideas than made. But there

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Speaker 1: is a good strong liberty community, a good number of people,

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Speaker 1: good annual events. There's a few annual events. Porkfest is

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Speaker 1: the big one coming up in the summer where people

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Speaker 1: just you know get together and share these ideas and

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Speaker 1: it's it's attracted a lot of people. And I think

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Speaker 1: we had the record number of movers over the last

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Speaker 1: three years because there was a lot of people who

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Speaker 1: were on the fence who signed the pledge or whatever.

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Speaker 1: But if they were in a place like California or

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Speaker 1: New York where they had especially high tieranny, a lot

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Speaker 1: of the you know, thousands of those people ended up

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Speaker 1: moving to New Hampshire. So New Hampshire, you know, New

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Speaker 1: York and California both lost, and I think Texas and

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Speaker 1: Florida new Hampshire gained. New Hampshire was a smaller gainer

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Speaker 1: as a smaller state, but you know, we definitely gained

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Speaker 1: from you know, people who just want to get out

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Speaker 1: of oppressive regimes. You know, I left Massachusetts. You know,

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Speaker 1: I immediately got a fifteen percent raise by moving sixty

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Speaker 1: miles north because I don't have state tax. Now I

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Speaker 1: used to have income tax, and I don't. It was

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Speaker 1: really weird. The first year We're like, well, how do

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Speaker 1: we file, and they're like, you don't file. You just

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Speaker 1: pay your federal and that's it. There is no state tax.

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Speaker 1: And that was very strange for us having lived in

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Speaker 1: Massachusetts all our life, where we got to pay a

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Speaker 1: small fortune to Massachusetts. And then what you notice is

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Speaker 1: what what do you get for it. In Massachusetts, I

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Speaker 1: had a bunch of busybody bureaucrats up in my business

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Speaker 1: twenty four to seven. You come up here and it's

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Speaker 1: just you know, less people, less government involvement, less heavy

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Speaker 1: handed bureaucracy, less you know, police state kind of things.

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Speaker 1: It's just more of a of a free place. So, uh,

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Speaker 1: you know, a lot of people are seeing that movement.

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Speaker 1: But what about the roads, so Bruce, what about the roads? Exactly?

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Speaker 1: Who built the roads? I don't know. We don't have

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Speaker 1: roads up here. Nobody would ever figure out. You know,

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Speaker 1: it's funny right outside my house, the road that basically

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Speaker 1: it's like turns into my driveway. That road has been

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Speaker 1: there since at least sixteen twenty probably maybe even a

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Speaker 1: hundred years before that. So the before these people, yeah,

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Speaker 1: before the United States even existed, when there was a

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Speaker 1: tiny number of settlers. Somehow these people figured out how

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Speaker 1: to you know, follow a path that was used by

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Speaker 1: deer and make a road out of it. I don't

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Speaker 1: know how they did it without politicians, but they man.

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Speaker 1: So you still have roads without without government taxes, without

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Speaker 1: state taxes. We do amazing we do. And it's like

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Speaker 1: point two percent of the budget or something. Is it

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Speaker 1: Is it like a community though, like you've all kind

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Speaker 1: of moved to one area of the state or is

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Speaker 1: it just that you just a bunch of you in

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Speaker 1: the state and then you kind of get together like

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Speaker 1: kind of more free. Yeah, it's it's it's in the state.

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Speaker 1: Not everybody even gets together. There's people who are very inactive.

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Speaker 1: They just kind of signed the pledge and do their

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Speaker 1: own things, you know very much that leave me alone

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Speaker 1: ast sort of people. Some people don't. So it's not

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Speaker 1: like not like a big libertarian community or something. Not really.

425
00:19:50,200 --> 00:19:52,320
Speaker 1: There are some pockets of it where friends will come

426
00:19:52,320 --> 00:19:54,600
Speaker 1: in and tell a few other friends and you know,

427
00:19:54,640 --> 00:19:56,600
Speaker 1: so you do end up with some towns like Keane

428
00:19:56,720 --> 00:19:59,080
Speaker 1: and Manchester and a couple other places where you have

429
00:19:59,119 --> 00:20:01,919
Speaker 1: these you know, p gets where you know, fifteen friends

430
00:20:01,960 --> 00:20:04,160
Speaker 1: will you know, live within a mile of each other

431
00:20:04,240 --> 00:20:07,160
Speaker 1: kind of thing. Um, you know. But there isn't any

432
00:20:07,240 --> 00:20:09,800
Speaker 1: like and there's places that are more libertarian than other

433
00:20:09,920 --> 00:20:15,199
Speaker 1: Keen is one of them, um you know, but but

434
00:20:15,280 --> 00:20:17,800
Speaker 1: there's not really any you know, sort of official place

435
00:20:17,840 --> 00:20:19,640
Speaker 1: that they go. I get a lot of people who

436
00:20:19,680 --> 00:20:22,520
Speaker 1: ask me, uh, you know, almost every week, somebody will

437
00:20:22,560 --> 00:20:24,680
Speaker 1: email me and say, hey, I you know Free state,

438
00:20:24,720 --> 00:20:27,000
Speaker 1: so you ran, can give me some advice on where

439
00:20:27,000 --> 00:20:30,760
Speaker 1: to um where to move If if I'm looking at

440
00:20:30,760 --> 00:20:32,720
Speaker 1: New Hampshire, where would I look for houses? And I'm

441
00:20:32,720 --> 00:20:34,399
Speaker 1: a great person I ask because when I ran for Senate,

442
00:20:34,400 --> 00:20:37,920
Speaker 1: I've visited every single town in the state. UM and

443
00:20:37,720 --> 00:20:39,639
Speaker 1: I you know, I usually say it depends on you know,

444
00:20:39,800 --> 00:20:41,520
Speaker 1: there's places you can go up north where it's very

445
00:20:41,560 --> 00:20:44,560
Speaker 1: very very cheap. There's cities, there's towns. I like the

446
00:20:44,600 --> 00:20:46,520
Speaker 1: Sea Coast area because you've got the ocean and you've

447
00:20:46,520 --> 00:20:50,480
Speaker 1: got these cutesy tourist towns and night nice little cities.

448
00:20:50,480 --> 00:20:52,439
Speaker 1: But it's more expensive. If you go up north, you

449
00:20:52,480 --> 00:20:55,400
Speaker 1: can you can get you know, absolute steel. The further

450
00:20:55,520 --> 00:20:58,440
Speaker 1: you are willing to go from Boston and airports, you know,

451
00:20:58,480 --> 00:21:00,119
Speaker 1: the cheaper you can get. So it really depends on

452
00:21:00,160 --> 00:21:02,159
Speaker 1: who you are and what you're interested in. And New

453
00:21:02,160 --> 00:21:04,560
Speaker 1: Hampshire is also very spread out, you know, when one

454
00:21:04,840 --> 00:21:09,120
Speaker 1: one of the only drawbacks is, uh, it's just like

455
00:21:09,480 --> 00:21:13,440
Speaker 1: I have this wonderful farm or beautiful place I'd love

456
00:21:13,480 --> 00:21:15,520
Speaker 1: to have like a weekly get together and just like

457
00:21:15,760 --> 00:21:18,399
Speaker 1: hang out. But it's just kind of logistically hard, Like

458
00:21:18,600 --> 00:21:20,960
Speaker 1: I don't have enough friends locally that you know, there's

459
00:21:20,960 --> 00:21:24,119
Speaker 1: no critical mass um to you know, to kind of

460
00:21:24,200 --> 00:21:25,680
Speaker 1: to kind of do that. So I do like a

461
00:21:26,040 --> 00:21:27,840
Speaker 1: like I do a big cookout in the summer, and

462
00:21:28,480 --> 00:21:30,880
Speaker 1: you have a couple other events or anything. But it's

463
00:21:30,880 --> 00:21:32,959
Speaker 1: not like a city where you can just you know,

464
00:21:33,320 --> 00:21:36,080
Speaker 1: like Dubai, where you know, you can easily get fifteen

465
00:21:36,119 --> 00:21:39,400
Speaker 1: twenty people together with a couple of texts. You know. Yeah, man,

466
00:21:39,440 --> 00:21:41,080
Speaker 1: it's interesting. I don't know a lot about it, so

467
00:21:41,119 --> 00:21:43,840
Speaker 1: I appreciate you sharing that. Let's let's jump gears and

468
00:21:43,920 --> 00:21:46,520
Speaker 1: let's talk about we kind of started talking about like

469
00:21:46,640 --> 00:21:48,840
Speaker 1: all these problems that we have in the world today.

470
00:21:48,880 --> 00:21:51,919
Speaker 1: The big fire alarm that's going off right now is

471
00:21:51,960 --> 00:21:55,840
Speaker 1: like this pending banking collapse that's going on right now. Um,

472
00:21:56,280 --> 00:21:59,119
Speaker 1: And it seems like and tell me how you how

473
00:21:59,160 --> 00:22:00,879
Speaker 1: you kind of see it. But going back to this

474
00:22:01,480 --> 00:22:03,920
Speaker 1: growing state that just continues to get bigger and bigger

475
00:22:03,920 --> 00:22:07,600
Speaker 1: and bigger and more authoritarianism, etc. A lot of that

476
00:22:07,640 --> 00:22:09,679
Speaker 1: seems to come from I frame it up as like

477
00:22:09,760 --> 00:22:12,119
Speaker 1: their power, the source of their power comes from the

478
00:22:12,160 --> 00:22:14,399
Speaker 1: money printer, the ability to continue to print money for

479
00:22:14,600 --> 00:22:18,120
Speaker 1: all these bureaucrats and all these organizations to build out,

480
00:22:18,200 --> 00:22:20,920
Speaker 1: as you said, the DHS, private army, et cetera. Comes

481
00:22:20,920 --> 00:22:22,720
Speaker 1: from the ability to kind of continue to print money.

482
00:22:23,720 --> 00:22:25,800
Speaker 1: But at the same time, it seems like we're witnessing

483
00:22:26,000 --> 00:22:29,520
Speaker 1: the collapse of that monetary system. The banking system is

484
00:22:29,520 --> 00:22:31,600
Speaker 1: on fire. The FED now is saying they're going to

485
00:22:31,840 --> 00:22:35,000
Speaker 1: back you know whatever, seventeen eighteen trillion dollars of deposits.

486
00:22:36,359 --> 00:22:39,879
Speaker 1: Kind of what's your take on that the banking system collapse?

487
00:22:39,880 --> 00:22:42,119
Speaker 1: Are we coming to the end of that system? What

488
00:22:42,359 --> 00:22:45,360
Speaker 1: do you see in there? Yeah? I think you're right.

489
00:22:45,480 --> 00:22:48,560
Speaker 1: You know. It comes back to the question that I

490
00:22:48,960 --> 00:22:50,760
Speaker 1: urge a lot of people to ask. It's it's it's

491
00:22:50,800 --> 00:22:53,640
Speaker 1: such a very very basic question, but very few people ask.

492
00:22:53,840 --> 00:22:57,119
Speaker 1: And I've gone, you know, other places, especially outside bitcoin circles,

493
00:22:57,160 --> 00:23:00,280
Speaker 1: I say, what is money? You know, that's a very

494
00:23:00,359 --> 00:23:03,200
Speaker 1: very good question. We all work, everybody cares about money

495
00:23:03,240 --> 00:23:06,199
Speaker 1: to some degree. Uh, for most of us, it drives

496
00:23:06,200 --> 00:23:08,080
Speaker 1: a good chunk of you know, maybe a third of

497
00:23:08,080 --> 00:23:10,040
Speaker 1: our lives is focused on money. And it's can be

498
00:23:10,080 --> 00:23:13,080
Speaker 1: stressful and everything else. But very few people actually stop

499
00:23:13,160 --> 00:23:15,920
Speaker 1: even me, I was in finance for twenty years, probably

500
00:23:15,960 --> 00:23:18,480
Speaker 1: before I ever even asked this question. You know, what

501
00:23:18,680 --> 00:23:21,000
Speaker 1: is money? And you can google that. You can google

502
00:23:21,000 --> 00:23:23,439
Speaker 1: properties of money and you'll and you'll get an answer

503
00:23:23,480 --> 00:23:26,479
Speaker 1: that has been around since long before bitcoin. It'll say that,

504
00:23:26,600 --> 00:23:30,240
Speaker 1: you know, typically throughout human history, money has been something

505
00:23:30,240 --> 00:23:33,080
Speaker 1: that is you know, widely accepted. It's got to be fungible.

506
00:23:33,119 --> 00:23:36,000
Speaker 1: So you know, my dollar is the same as your dollar. Um,

507
00:23:37,040 --> 00:23:40,199
Speaker 1: it's got to be scarce, limited in supply. Uh, you know,

508
00:23:40,200 --> 00:23:42,359
Speaker 1: and there's other fact you know, other other properties that

509
00:23:42,720 --> 00:23:46,160
Speaker 1: make money money, and so asking uh, you know that

510
00:23:46,240 --> 00:23:49,480
Speaker 1: question is a is a key. Um, you know part

511
00:23:49,560 --> 00:23:51,639
Speaker 1: of this answer because once you figure that out, you know,

512
00:23:51,680 --> 00:23:54,120
Speaker 1: part of it being the limited supply. We don't have

513
00:23:54,200 --> 00:23:57,600
Speaker 1: that with this US dollar or fiat in general. That's

514
00:23:57,640 --> 00:23:59,919
Speaker 1: just something that people print from thin air and call

515
00:24:00,000 --> 00:24:02,320
Speaker 1: all it money, and you can't do that. You can't.

516
00:24:02,359 --> 00:24:04,280
Speaker 1: You can again, just just like you can kick the

517
00:24:04,320 --> 00:24:06,080
Speaker 1: can down the road and you can be a tyrant

518
00:24:06,359 --> 00:24:08,760
Speaker 1: and you can temporarily have a jump in your economy

519
00:24:08,800 --> 00:24:10,600
Speaker 1: like China, But at the end of the day, if

520
00:24:10,640 --> 00:24:12,800
Speaker 1: you print something from thin air and call it money,

521
00:24:13,200 --> 00:24:15,560
Speaker 1: it's ultimately not money. It's not going to meet those

522
00:24:15,560 --> 00:24:19,200
Speaker 1: properties of what makes good money good and that human

523
00:24:19,359 --> 00:24:23,200
Speaker 1: humans have always gravitated towards the best form of money.

524
00:24:23,280 --> 00:24:25,000
Speaker 1: They're just naturally going to They're going to go to

525
00:24:25,040 --> 00:24:28,920
Speaker 1: something that's you know, more scarce, more acceptable, Uh, you know, divisible,

526
00:24:29,200 --> 00:24:33,800
Speaker 1: easy to move, all of this other stuff. Um. So

527
00:24:34,600 --> 00:24:37,159
Speaker 1: you know, our money is less and less money. You know,

528
00:24:37,200 --> 00:24:40,639
Speaker 1: the US dollar is just not meeting that definition. It's

529
00:24:40,720 --> 00:24:43,720
Speaker 1: running on fumes from you know, really fifty years ago

530
00:24:43,760 --> 00:24:45,760
Speaker 1: when it was backed by gold, it was backed by

531
00:24:45,800 --> 00:24:48,639
Speaker 1: a sound form of money. And it's not backed by gold,

532
00:24:48,640 --> 00:24:52,480
Speaker 1: it's not backed by anything. It's just backed by politicians

533
00:24:52,480 --> 00:24:56,080
Speaker 1: saying that this is valuable. And they are doing that,

534
00:24:56,200 --> 00:24:59,760
Speaker 1: of course, like you said, um, to prop up their cronies.

535
00:24:59,800 --> 00:25:02,640
Speaker 1: You know. There it's a very very very powerful thing

536
00:25:03,040 --> 00:25:05,040
Speaker 1: to be able to print money from from thin air.

537
00:25:05,119 --> 00:25:07,600
Speaker 1: If you if you asked us a six year old

538
00:25:07,680 --> 00:25:09,720
Speaker 1: what magic power they would have if they had a

539
00:25:09,720 --> 00:25:12,000
Speaker 1: magic wand you know, they might say, oh, I want

540
00:25:12,000 --> 00:25:14,640
Speaker 1: to have free money forever, you know, And that's basically

541
00:25:14,640 --> 00:25:17,360
Speaker 1: what Janet Yellen and the other politicians are doing. They

542
00:25:17,359 --> 00:25:19,199
Speaker 1: have free money that they can just give to their

543
00:25:19,240 --> 00:25:21,119
Speaker 1: cronies and give to black Rock and give to their

544
00:25:21,160 --> 00:25:25,960
Speaker 1: banks and give to others, and you know, it's it's

545
00:25:25,960 --> 00:25:29,000
Speaker 1: not real money. So so so yeah, it's broken. It's

546
00:25:29,040 --> 00:25:31,800
Speaker 1: a broken system, and it's it's corrupt, and it's it's

547
00:25:31,800 --> 00:25:34,359
Speaker 1: really unsustainable. You can't just keep printing money from thin

548
00:25:34,440 --> 00:25:36,880
Speaker 1: air and having at work. If you could, Zimbabwe would

549
00:25:36,880 --> 00:25:38,840
Speaker 1: be the richest country in the world because they printed

550
00:25:38,880 --> 00:25:41,600
Speaker 1: their money like crazy. I have Zimbabwe notes kicking around

551
00:25:41,640 --> 00:25:44,200
Speaker 1: my office here somewhere. There's like a trillion dollar notes

552
00:25:44,600 --> 00:25:46,840
Speaker 1: that you had many people who have seen these, you know,

553
00:25:46,840 --> 00:25:49,840
Speaker 1: from Zimbabwe when they printed. You know, politicians printed their

554
00:25:49,840 --> 00:25:51,880
Speaker 1: money out of thin air, just just like our politicians

555
00:25:51,920 --> 00:25:54,280
Speaker 1: are doing now. Yeah. Yeah, I mean everybody became a

556
00:25:54,320 --> 00:25:56,800
Speaker 1: billionaire in Zimbabwe, but it was three hundred and fifty

557
00:25:56,800 --> 00:26:00,159
Speaker 1: billion for one single egg. So uh that win. The

558
00:26:00,200 --> 00:26:02,320
Speaker 1: Zimbabwe dollar, I believe, was one to one with the dollar.

559
00:26:02,440 --> 00:26:04,560
Speaker 1: And that's how how fast and how far it went.

560
00:26:04,600 --> 00:26:06,520
Speaker 1: They I think they reset the currency like four different

561
00:26:06,520 --> 00:26:10,080
Speaker 1: times and the continue to just have hyperinflation every single time.

562
00:26:10,520 --> 00:26:12,000
Speaker 1: Because at the end of the day, you have to

563
00:26:12,080 --> 00:26:14,520
Speaker 1: kind of realize that we don't want money, we want

564
00:26:14,520 --> 00:26:17,080
Speaker 1: the things that money buys us the goods and services,

565
00:26:17,080 --> 00:26:18,879
Speaker 1: and so then you basically take all the money divided

566
00:26:18,920 --> 00:26:20,960
Speaker 1: by all the goods and services, right, and if you

567
00:26:21,040 --> 00:26:22,920
Speaker 1: just increase the money, then the cost of the goods

568
00:26:22,920 --> 00:26:26,120
Speaker 1: and services go up. It's like a pretty simple math

569
00:26:26,160 --> 00:26:29,000
Speaker 1: if they would just teach it that way. But yeah,

570
00:26:29,080 --> 00:26:30,840
Speaker 1: most people haven't really taken the time to think about that,

571
00:26:30,880 --> 00:26:32,520
Speaker 1: and so you know, we're kind of at the at

572
00:26:32,560 --> 00:26:36,240
Speaker 1: the end. I was, I was on a Swan signal

573
00:26:37,160 --> 00:26:39,600
Speaker 1: before this, and we started getting into the kind of

574
00:26:39,600 --> 00:26:41,600
Speaker 1: banking situation. I said, you know, before we even do that,

575
00:26:41,680 --> 00:26:43,560
Speaker 1: let me just kind of frame this up a little bit, like,

576
00:26:44,040 --> 00:26:46,399
Speaker 1: none of this would even be a conversation. We wouldn't

577
00:26:46,440 --> 00:26:48,280
Speaker 1: have to have the FED considering if they're going to

578
00:26:48,320 --> 00:26:53,640
Speaker 1: back deposits. If the banks just had the money, If

579
00:26:53,680 --> 00:26:56,000
Speaker 1: the banks just had the deposits, none of this would

580
00:26:56,040 --> 00:26:58,040
Speaker 1: even be a problem. But the fact is they don't

581
00:26:58,040 --> 00:27:01,119
Speaker 1: have the deposits. You know, they've put them in you know,

582
00:27:01,160 --> 00:27:04,359
Speaker 1: with FTX, they took you know, depositors money and put

583
00:27:04,400 --> 00:27:08,000
Speaker 1: them into risky tokens that lost value. In the banks case,

584
00:27:08,040 --> 00:27:10,320
Speaker 1: they took dollars and put them into risky assets. That

585
00:27:10,359 --> 00:27:14,520
Speaker 1: were US treasuries and they lost money, and so we're

586
00:27:14,600 --> 00:27:16,360
Speaker 1: kind of witnessing this whole thing come down. But it's

587
00:27:16,359 --> 00:27:18,840
Speaker 1: like now the FED is like basically, you know, we've

588
00:27:18,840 --> 00:27:20,879
Speaker 1: been seeing them kind of the walls closing in this

589
00:27:20,960 --> 00:27:22,960
Speaker 1: rock in the hard place kind of a thing, and

590
00:27:23,000 --> 00:27:26,679
Speaker 1: like they have basically created this fire alarm or this

591
00:27:26,800 --> 00:27:30,960
Speaker 1: fire the arsonist trying to bring inflation down, but inflation

592
00:27:31,080 --> 00:27:33,600
Speaker 1: is not coming down, and now they're kind of stuck

593
00:27:33,640 --> 00:27:35,560
Speaker 1: like having to kind of reinflate again. I mean, is

594
00:27:35,560 --> 00:27:39,240
Speaker 1: that how you see it? Yeah, And you know, ironically,

595
00:27:39,400 --> 00:27:42,520
Speaker 1: you know, the banks don't have the money because the

596
00:27:42,560 --> 00:27:44,760
Speaker 1: government won't let them have the money. You know, Caitlin

597
00:27:44,880 --> 00:27:47,120
Speaker 1: Long with Avante wanted to create a bank with one

598
00:27:47,160 --> 00:27:50,240
Speaker 1: to one reserves where they didn't do any of this

599
00:27:50,280 --> 00:27:53,359
Speaker 1: crazy shenanigans, and they wouldn't approve her charter. They go

600
00:27:53,400 --> 00:27:55,439
Speaker 1: into the banks, The FDIC goes into the banks and

601
00:27:55,480 --> 00:27:57,800
Speaker 1: forces them to make loans, and they forced them to

602
00:27:57,840 --> 00:27:59,399
Speaker 1: do this stuff, and they've done it again and again.

603
00:28:00,640 --> 00:28:03,359
Speaker 1: So you know, typically the government causes a lot of

604
00:28:03,359 --> 00:28:05,520
Speaker 1: these problems that they're trying to fix or say that

605
00:28:05,560 --> 00:28:08,679
Speaker 1: they're trying to fix, and you know, whatever they do

606
00:28:08,720 --> 00:28:11,040
Speaker 1: with inflation and everything else, none of that's going to work.

607
00:28:11,040 --> 00:28:14,959
Speaker 1: Government typically makes just about every problem worse, you know,

608
00:28:15,320 --> 00:28:17,480
Speaker 1: everything that they YEA. So she tried to launch a

609
00:28:17,480 --> 00:28:19,440
Speaker 1: bank that was a full reserve bank, I meaning she

610
00:28:19,440 --> 00:28:23,520
Speaker 1: would keep all the deposits, no novel idea that they

611
00:28:23,520 --> 00:28:25,240
Speaker 1: would keep all the deposits and then if you need

612
00:28:25,240 --> 00:28:26,960
Speaker 1: your money you could get them. There was another bank

613
00:28:27,000 --> 00:28:28,760
Speaker 1: I believe called Narrow Bank that tried to do the

614
00:28:28,800 --> 00:28:32,600
Speaker 1: same thing, and they the FED basically approves the bank charters,

615
00:28:32,600 --> 00:28:36,840
Speaker 1: and they denied these banks. Now it seems the speculation

616
00:28:36,960 --> 00:28:39,760
Speaker 1: seems to be pretty clear the FED doesn't want those

617
00:28:39,800 --> 00:28:42,760
Speaker 1: They've obviously denied them, even though Caitlyn Long's bank passed

618
00:28:42,800 --> 00:28:45,960
Speaker 1: all the other tests apparently, and so it would almost

619
00:28:45,960 --> 00:28:48,640
Speaker 1: seem like they don't want that because if there was

620
00:28:48,640 --> 00:28:50,720
Speaker 1: a bank that would actually hold your money, people would

621
00:28:50,720 --> 00:28:52,520
Speaker 1: probably want that, and then all the money from the

622
00:28:52,560 --> 00:28:54,800
Speaker 1: banking system would go over to that. I mean, do

623
00:28:54,840 --> 00:28:57,920
Speaker 1: you see this as sort of like a basically a

624
00:28:57,960 --> 00:29:02,240
Speaker 1: way to force people to stay in the financial system. Yeah,

625
00:29:02,280 --> 00:29:05,720
Speaker 1: I mean, status are going to state. You know, people

626
00:29:05,800 --> 00:29:09,040
Speaker 1: who think that the government is a solution, are you know,

627
00:29:09,080 --> 00:29:11,240
Speaker 1: they're going to view view it as, uh, it's a

628
00:29:11,280 --> 00:29:13,760
Speaker 1: nanny state, you know that, oh, we can't allow this,

629
00:29:13,920 --> 00:29:15,920
Speaker 1: or that we can't prove Caitlin, We've got to do

630
00:29:15,960 --> 00:29:18,600
Speaker 1: it our way, you know. Um, they think that that

631
00:29:18,960 --> 00:29:21,640
Speaker 1: it's a legitimate role of government to sit there and

632
00:29:22,280 --> 00:29:25,040
Speaker 1: tell you know, banks what they can do, which is absurd.

633
00:29:25,400 --> 00:29:28,080
Speaker 1: You know, the government shouldn't the FDIC shouldn't even exist really,

634
00:29:28,120 --> 00:29:30,720
Speaker 1: I mean, the entire thing should be uh, you know,

635
00:29:30,760 --> 00:29:34,560
Speaker 1: completely upended because politicians. And this is the crazy thing.

636
00:29:34,640 --> 00:29:38,520
Speaker 1: You know, I'm always amazed that there's so um, there'sn't

637
00:29:38,520 --> 00:29:40,880
Speaker 1: a lot more libertarians or people who have these kind

638
00:29:40,880 --> 00:29:44,040
Speaker 1: of ideas because nobody really trust politicians. Doesn't matter whether

639
00:29:44,040 --> 00:29:46,720
Speaker 1: you're Democrat or Republican or independent. You know, if I say,

640
00:29:47,080 --> 00:29:48,760
Speaker 1: if if I said to you, you know, would you

641
00:29:48,800 --> 00:29:51,720
Speaker 1: trust the United States government to feed your dog? No way,

642
00:29:52,040 --> 00:29:56,200
Speaker 1: No way? Would a lot of people department or something.

643
00:29:56,680 --> 00:29:57,960
Speaker 1: You know, there's a lot of things you wouldn't you

644
00:29:57,960 --> 00:30:01,680
Speaker 1: wouldn't trust these people to do. Politicians don't do things well.

645
00:30:01,800 --> 00:30:05,120
Speaker 1: There's very very few things that they can do well,

646
00:30:05,320 --> 00:30:07,480
Speaker 1: and even fewer that they can do better than the

647
00:30:07,480 --> 00:30:09,160
Speaker 1: private sector. One of the only things they can do

648
00:30:09,240 --> 00:30:12,640
Speaker 1: is they can kill very very efficient efficiently, which could

649
00:30:12,680 --> 00:30:15,520
Speaker 1: be useful if we're invaded by a foreign power. You

650
00:30:16,000 --> 00:30:18,840
Speaker 1: definitely it could be very useful to have a military

651
00:30:18,840 --> 00:30:21,840
Speaker 1: who can fight back. But other than that, there's really

652
00:30:21,880 --> 00:30:24,120
Speaker 1: not much that they're good at. So you know, they

653
00:30:24,120 --> 00:30:26,240
Speaker 1: tend to go in there. I mean the idea that

654
00:30:26,320 --> 00:30:29,720
Speaker 1: these clowns in fancy offices paid for with money that

655
00:30:29,720 --> 00:30:32,840
Speaker 1: they stole from people, can sit lording over people in

656
00:30:32,920 --> 00:30:35,840
Speaker 1: their marble and ivory towers saying like, well, we know

657
00:30:35,960 --> 00:30:38,920
Speaker 1: what the economy would do, and let's do this and

658
00:30:39,040 --> 00:30:42,360
Speaker 1: change interest rates here, and deny this charter and approve

659
00:30:42,480 --> 00:30:45,080
Speaker 1: this one, and let this let Sam come in and

660
00:30:45,120 --> 00:30:48,200
Speaker 1: get special access to regulators. They don't know what they're doing.

661
00:30:48,880 --> 00:30:51,640
Speaker 1: They're clowns, and they're corrupt, and even the best of them,

662
00:30:51,680 --> 00:30:54,080
Speaker 1: even if they really did know what they're doing, central

663
00:30:54,080 --> 00:30:55,960
Speaker 1: control is not the place to do that. If somebody

664
00:30:56,040 --> 00:30:59,120
Speaker 1: really really was competent, they should go and be private

665
00:30:59,160 --> 00:31:01,520
Speaker 1: industry and become the next Steve Jobs, you know, but

666
00:31:01,560 --> 00:31:03,920
Speaker 1: that's not what you see with politicians. It's not our

667
00:31:03,920 --> 00:31:07,440
Speaker 1: best and brightest, and they usually don't know what they're doing,

668
00:31:07,440 --> 00:31:10,320
Speaker 1: and they almost always mess it up to a great cost,

669
00:31:10,640 --> 00:31:13,440
Speaker 1: great cost of human life and globally, you know, you're

670
00:31:13,480 --> 00:31:16,480
Speaker 1: talking about a lot of lives lost and a lot

671
00:31:16,520 --> 00:31:20,440
Speaker 1: of treasure lost because of you know, these Nanni state

672
00:31:20,440 --> 00:31:23,280
Speaker 1: politicians who think that they know better than the citizens

673
00:31:23,280 --> 00:31:26,600
Speaker 1: that they rule over. The crux of the matter goes

674
00:31:26,600 --> 00:31:28,560
Speaker 1: back to what you said, it's the central planning, and

675
00:31:28,600 --> 00:31:31,560
Speaker 1: so these people certainly have no idea what they're doing.

676
00:31:31,640 --> 00:31:34,320
Speaker 1: It's it's it's apparent to anybody who's paying attention, but

677
00:31:34,720 --> 00:31:36,880
Speaker 1: nobody would have an idea what they're doing because it's

678
00:31:36,880 --> 00:31:41,120
Speaker 1: a complex system and nobody has enough information to manage

679
00:31:41,120 --> 00:31:43,520
Speaker 1: that properly. Right, the market has to set that policy.

680
00:31:43,560 --> 00:31:47,240
Speaker 1: And so yes, they're completely incompetent, but everyone else would

681
00:31:47,240 --> 00:31:48,960
Speaker 1: be as well. Maybe maybe they'd be a little bit

682
00:31:49,000 --> 00:31:51,280
Speaker 1: more competent. Leave it, leave it alone a little bit more.

683
00:31:51,280 --> 00:31:52,800
Speaker 1: I guess it might be a better option, But at

684
00:31:52,800 --> 00:31:54,720
Speaker 1: the end of the day, it just shouldn't be managed.

685
00:31:54,760 --> 00:31:58,120
Speaker 1: I think it's the big thing. I'm curious what your

686
00:31:58,160 --> 00:32:01,000
Speaker 1: take is. It seems like yesterday there was all this

687
00:32:01,040 --> 00:32:04,120
Speaker 1: stuff going on on Twitter, Ben Hunt, absolute theories going

688
00:32:04,160 --> 00:32:07,880
Speaker 1: on and on and on telling people how dare you? Bitcoin?

689
00:32:07,960 --> 00:32:10,080
Speaker 1: People tell tell people that there's a lifeboat you can

690
00:32:10,120 --> 00:32:12,240
Speaker 1: get onto. How dare you If you tell people to

691
00:32:12,280 --> 00:32:14,200
Speaker 1: get on a lifeboat, you're gonna cause the the ship

692
00:32:14,240 --> 00:32:17,000
Speaker 1: to go down even faster apparently. And then you have

693
00:32:17,040 --> 00:32:19,440
Speaker 1: like Bology is making this bet this you know, million

694
00:32:19,480 --> 00:32:21,600
Speaker 1: dollars a bit on bitcoin and now people are calling

695
00:32:21,640 --> 00:32:23,360
Speaker 1: him out. How dare you? You're just gonna You're just

696
00:32:23,360 --> 00:32:26,080
Speaker 1: gonna cause a banking collapse. You're causing a banking crisis.

697
00:32:27,640 --> 00:32:30,520
Speaker 1: What's your take on that? I mean, how could someone

698
00:32:30,600 --> 00:32:33,160
Speaker 1: even say that, like by talking about a banking crisis,

699
00:32:33,160 --> 00:32:37,200
Speaker 1: that creates a banking crisis. Yeah, I mean tweets. It's

700
00:32:37,240 --> 00:32:39,880
Speaker 1: just like the binance FTX thing. People said that that

701
00:32:40,520 --> 00:32:44,560
Speaker 1: you know, CZ caused the FTX collapse. It's like, No,

702
00:32:45,000 --> 00:32:49,440
Speaker 1: a tweet can't create uh, you know, theft A tweet

703
00:32:49,440 --> 00:32:52,720
Speaker 1: can't make balances disappear. The problem with the banking is

704
00:32:53,120 --> 00:32:57,200
Speaker 1: meddling status to regulators and bad regulations that they have

705
00:32:57,280 --> 00:33:01,800
Speaker 1: pushed on the banking industry and ultimately the public, which

706
00:33:01,840 --> 00:33:04,520
Speaker 1: are unsustainable and don't work. That's the problem, you know,

707
00:33:04,560 --> 00:33:06,680
Speaker 1: Otherwise there's no amount of tweets, no amount of tweet.

708
00:33:06,720 --> 00:33:09,360
Speaker 1: If the money is there, then no amount of tweets

709
00:33:09,440 --> 00:33:12,800
Speaker 1: or fud can can affect it. But if the money's

710
00:33:12,840 --> 00:33:15,280
Speaker 1: not there, then all the pr and marketing in the

711
00:33:15,280 --> 00:33:19,400
Speaker 1: world will eventually be useless and ultimately reality will catch

712
00:33:19,480 --> 00:33:22,640
Speaker 1: up and people will figure it out and call out

713
00:33:22,640 --> 00:33:25,120
Speaker 1: the scamp. So so yeah, I mean, I'm a man

714
00:33:25,200 --> 00:33:27,600
Speaker 1: team Balaji with that one. I hope he's right about

715
00:33:27,600 --> 00:33:29,400
Speaker 1: the million dollars. I don't think so. He said it's

716
00:33:29,600 --> 00:33:33,000
Speaker 1: bitcoining might hit a million in ninety days, but you

717
00:33:33,040 --> 00:33:35,000
Speaker 1: know broader, and I think he's making that more of

718
00:33:35,040 --> 00:33:40,520
Speaker 1: a as a hyperbolic point. Um, you know, to say,

719
00:33:40,760 --> 00:33:42,720
Speaker 1: you know, hey, there's some serious problems in the system

720
00:33:42,760 --> 00:33:47,920
Speaker 1: and here's an alternative. But you know, those concerned about

721
00:33:47,960 --> 00:33:50,320
Speaker 1: it should show off their balance sheets. If you're concerned

722
00:33:50,320 --> 00:33:54,680
Speaker 1: about banking being affected by tweets, then you know, maybe

723
00:33:55,440 --> 00:33:57,480
Speaker 1: have better banks. Do you think this is something that

724
00:33:57,520 --> 00:33:59,920
Speaker 1: could continue to happen? I mean if the banking system

725
00:34:00,320 --> 00:34:03,600
Speaker 1: financial system continues to deteriorate. Um, I mean, do you

726
00:34:03,640 --> 00:34:08,160
Speaker 1: think there will be more angst anger directed at bitcoiners?

727
00:34:08,239 --> 00:34:10,640
Speaker 1: You know, we've seen even the Christine Laguard you know

728
00:34:10,719 --> 00:34:13,759
Speaker 1: from the imath now at the ECB um she said

729
00:34:13,800 --> 00:34:18,080
Speaker 1: that this innovation is a threat to financial stability, right,

730
00:34:18,120 --> 00:34:21,000
Speaker 1: and so yeah, do you think do you think a

731
00:34:21,040 --> 00:34:22,680
Speaker 1: lot of these people could build up this angst and

732
00:34:22,760 --> 00:34:25,360
Speaker 1: kind of use like these these lifeboats, these ability to

733
00:34:25,520 --> 00:34:29,400
Speaker 1: escape with something like bitcoin us as like almost pointing

734
00:34:29,440 --> 00:34:33,200
Speaker 1: the blame over there. Yeah, I mean, the the status powers,

735
00:34:33,239 --> 00:34:35,720
Speaker 1: the laguards of the world will certainly try and blame

736
00:34:35,800 --> 00:34:39,759
Speaker 1: this crisis that they created on us who are fixing it. Um.

737
00:34:39,960 --> 00:34:42,279
Speaker 1: You know, we believe in sound money. Bitcoiners believe in

738
00:34:42,320 --> 00:34:46,719
Speaker 1: real money, sound money limited in supply that is controlled

739
00:34:46,760 --> 00:34:51,520
Speaker 1: by math and code, rather than by people in fancy offices,

740
00:34:52,080 --> 00:34:54,520
Speaker 1: you know, living on money that they stole from the citizens.

741
00:34:54,680 --> 00:34:57,520
Speaker 1: So it's a radically different view. The people living off

742
00:34:57,520 --> 00:34:59,760
Speaker 1: of money that they stole from the citizens through taxes

743
00:34:59,880 --> 00:35:02,480
Speaker 1: or inflation of you know, printing money from thin air.

744
00:35:02,880 --> 00:35:07,240
Speaker 1: They love that system. They want to see that system perpetueum.

745
00:35:07,280 --> 00:35:10,000
Speaker 1: So you know, there's their system is going to die

746
00:35:10,040 --> 00:35:12,600
Speaker 1: either way. It's just completely unsustainable when you keep printing

747
00:35:12,600 --> 00:35:14,360
Speaker 1: money from thin air and giving it to cronies and

748
00:35:14,400 --> 00:35:17,560
Speaker 1: calling it money. Eventually it's not money and every single time,

749
00:35:17,600 --> 00:35:24,040
Speaker 1: Warmar Republic, the you know hungry um, Zimbabwe, uh, you know, Russia, Argentina,

750
00:35:24,200 --> 00:35:26,200
Speaker 1: you know, again and again we you know, this is

751
00:35:26,200 --> 00:35:30,319
Speaker 1: a lesson in humanity. Um that that doesn't work. So yeah,

752
00:35:30,480 --> 00:35:33,200
Speaker 1: it will collapse, and there's a good chance when it collapses,

753
00:35:33,239 --> 00:35:35,520
Speaker 1: people will use bitcoin as an on ramp. I think

754
00:35:35,520 --> 00:35:39,200
Speaker 1: they already are because well Tailor said today on the

755
00:35:39,719 --> 00:35:42,000
Speaker 1: you know, Michael Sailor said today, you know where else

756
00:35:42,000 --> 00:35:43,759
Speaker 1: are you going to put it? You know? I think,

757
00:35:43,800 --> 00:35:45,560
Speaker 1: and I've said this before, you know, I think bitcoin

758
00:35:45,680 --> 00:35:48,200
Speaker 1: is honestly kind of a stupid idea. It's just less

759
00:35:48,239 --> 00:35:50,279
Speaker 1: stupid than everything else. I mean, people sitting in a

760
00:35:50,280 --> 00:35:54,160
Speaker 1: fancy office in Washington, DC, Now that's a really stupid idea. Um,

761
00:35:54,480 --> 00:35:56,920
Speaker 1: this whole geek money that I've loved and been involved

762
00:35:56,920 --> 00:36:00,520
Speaker 1: with for a decade now, it's kind of a crazy idea.

763
00:36:00,640 --> 00:36:02,719
Speaker 1: I mean, I think it's just as crazy as I

764
00:36:02,760 --> 00:36:05,160
Speaker 1: did ten years ago. I'm like, what on earth is

765
00:36:05,200 --> 00:36:09,319
Speaker 1: this weird nerd money? But I just don't know of

766
00:36:09,360 --> 00:36:11,759
Speaker 1: anything better. I'm in the finance business. I've looked at

767
00:36:11,760 --> 00:36:13,959
Speaker 1: every kind of asset. I just don't know anything better

768
00:36:13,960 --> 00:36:16,239
Speaker 1: than this crazy nerd money. So there's a lot of

769
00:36:16,239 --> 00:36:18,520
Speaker 1: people like me who are going to use this. You know,

770
00:36:18,560 --> 00:36:21,040
Speaker 1: they're going to offload onto from Fiat and go on

771
00:36:21,080 --> 00:36:25,280
Speaker 1: to bitcoin, and you could see bitcoint rise radically radical inflows.

772
00:36:25,440 --> 00:36:27,719
Speaker 1: If you look historically at these other times where you've

773
00:36:27,719 --> 00:36:31,240
Speaker 1: had hyperinflation, it's crazy. And some of them are recent,

774
00:36:31,360 --> 00:36:34,480
Speaker 1: you know, two thousand and eight, you know recent history

775
00:36:34,920 --> 00:36:37,439
Speaker 1: where you know, you have inflation in some of these places.

776
00:36:37,440 --> 00:36:40,960
Speaker 1: Why my Republic is obviously earlier, but you know, one

777
00:36:41,000 --> 00:36:43,759
Speaker 1: hundred percent a day, you know, and I mean Russia,

778
00:36:43,840 --> 00:36:46,359
Speaker 1: Russia had you know, people were wanted to get paid

779
00:36:46,400 --> 00:36:48,719
Speaker 1: in the morning because they knew by the afternoon, if

780
00:36:48,719 --> 00:36:50,799
Speaker 1: they got paid in the afternoon, the money be worthless.

781
00:36:51,200 --> 00:36:53,600
Speaker 1: And so that that happens, and it probably will happen,

782
00:36:53,600 --> 00:36:55,359
Speaker 1: and a lot of people are going to hopefully have

783
00:36:55,440 --> 00:36:58,360
Speaker 1: bitcoin as a lifeboat. So of course the tyrant powers

784
00:36:58,360 --> 00:37:00,920
Speaker 1: who caused this mess in the first place, who love

785
00:37:00,960 --> 00:37:03,120
Speaker 1: their broken money, are going to blame it on us,

786
00:37:03,120 --> 00:37:05,600
Speaker 1: and as a last hurrah, they may try and uh,

787
00:37:05,840 --> 00:37:08,040
Speaker 1: you know, outlaw bitcoin or fight us. You know, that's

788
00:37:08,080 --> 00:37:10,680
Speaker 1: that's the ultimate boss fight. But that you know, may

789
00:37:10,719 --> 00:37:13,960
Speaker 1: happen when you already have hyper bitcoinization, and the dollar

790
00:37:14,000 --> 00:37:16,839
Speaker 1: has already collapsed, and everybody's moving into this you know,

791
00:37:16,920 --> 00:37:19,560
Speaker 1: new form of sound. But think about it like the

792
00:37:19,600 --> 00:37:21,080
Speaker 1: way I kind of look at it though, too is

793
00:37:21,120 --> 00:37:23,440
Speaker 1: you know, so then the final boss fight, as you said, right,

794
00:37:23,520 --> 00:37:25,480
Speaker 1: like okay with the tack on bitcoin or whatever. But

795
00:37:25,520 --> 00:37:29,440
Speaker 1: like I don't think I would. I would guess the

796
00:37:29,480 --> 00:37:32,880
Speaker 1: majority of people know that they shouldn't store their wealth

797
00:37:32,880 --> 00:37:36,480
Speaker 1: in dollars or fiat, which is why people buy stocks

798
00:37:36,600 --> 00:37:38,960
Speaker 1: and bonds, and they buy real estate and they buy gold,

799
00:37:39,560 --> 00:37:42,120
Speaker 1: and they buy private equity and venture capital, and like

800
00:37:42,320 --> 00:37:45,200
Speaker 1: nobody's trying to build wealth by saving money in FIAT.

801
00:37:45,280 --> 00:37:48,880
Speaker 1: So we're already everyone's already exiting FIAT to go into

802
00:37:49,160 --> 00:37:52,799
Speaker 1: real estate, stocks, etc. Right, and so out of all

803
00:37:52,800 --> 00:37:57,080
Speaker 1: these reserve assets that we have, debt and whatever, bitcoin

804
00:37:57,200 --> 00:37:59,920
Speaker 1: is just one more thing, right if you look at

805
00:38:00,000 --> 00:38:04,400
Speaker 1: it that way. Yeah, but you know they're when you

806
00:38:04,440 --> 00:38:06,440
Speaker 1: say all the people you, it's all the people you

807
00:38:06,480 --> 00:38:08,759
Speaker 1: and I hang around with, all the smart people you know,

808
00:38:08,920 --> 00:38:11,640
Speaker 1: your followers, your listeners and stuff that they know that

809
00:38:11,719 --> 00:38:14,359
Speaker 1: FIAT isn't a place, but your average American does not.

810
00:38:14,600 --> 00:38:16,560
Speaker 1: You know, a third of the money in the country

811
00:38:16,680 --> 00:38:19,319
Speaker 1: roughly is in just plain old fiat. You know, you

812
00:38:19,440 --> 00:38:22,360
Speaker 1: go into your I used to be a retail financial planner,

813
00:38:22,400 --> 00:38:25,160
Speaker 1: so I'd call up and uh, you know, do financial

814
00:38:25,200 --> 00:38:29,280
Speaker 1: plans for retirees. And it's a massive number of people

815
00:38:29,760 --> 00:38:32,239
Speaker 1: that they've just always trusted the bank and always do

816
00:38:32,280 --> 00:38:35,560
Speaker 1: trust the bank, and their idea of doing something innovative

817
00:38:35,760 --> 00:38:38,719
Speaker 1: is to buy some T bills or some CDs and

818
00:38:38,760 --> 00:38:43,680
Speaker 1: maybe maybe maybe some really good salesperson from Merrill Lynch

819
00:38:43,719 --> 00:38:46,840
Speaker 1: convince them to buy a couple of stock mutual funds

820
00:38:46,840 --> 00:38:49,080
Speaker 1: with sometimes as little as ten or twenty percent of

821
00:38:49,080 --> 00:38:51,640
Speaker 1: their money. Now that changes demographically and stuff. You know,

822
00:38:51,719 --> 00:38:53,920
Speaker 1: younger people do tend to buy stocks and stuff. But

823
00:38:54,239 --> 00:38:56,040
Speaker 1: you know, also a lot of younger people don't have

824
00:38:56,080 --> 00:38:58,000
Speaker 1: as much money. You know, the most most of the

825
00:38:58,000 --> 00:39:01,160
Speaker 1: wealth is with the retirees and awful lot of people

826
00:39:01,200 --> 00:39:03,799
Speaker 1: that you know, they do see the banks and they

827
00:39:03,840 --> 00:39:05,719
Speaker 1: do see feaut as crazy as that sounds to you

828
00:39:05,760 --> 00:39:07,279
Speaker 1: and I, they do see that as a as a

829
00:39:07,280 --> 00:39:10,640
Speaker 1: place to put their money. Um. So there's a big,

830
00:39:10,680 --> 00:39:14,200
Speaker 1: big learning curve, uh, you know from those people. Uh,

831
00:39:14,239 --> 00:39:16,160
Speaker 1: you know, and then even people with brokerages, you know

832
00:39:16,239 --> 00:39:18,960
Speaker 1: you you you know, your companies like robin Hood have

833
00:39:19,000 --> 00:39:23,080
Speaker 1: relatively small balances compared to companies like Merrill Lynch. But

834
00:39:23,160 --> 00:39:25,440
Speaker 1: if you look at places like Merrill Lynch, even a

835
00:39:25,520 --> 00:39:28,280
Speaker 1: huge percentage of those people are in things like CDs,

836
00:39:28,360 --> 00:39:32,399
Speaker 1: T bills, municipal bombs. Um. You know that does seem

837
00:39:32,440 --> 00:39:34,719
Speaker 1: crazy to me as as a bitcoiner and a financial person.

838
00:39:34,719 --> 00:39:36,040
Speaker 1: You know, I hang out with a lot of vcs

839
00:39:36,040 --> 00:39:38,960
Speaker 1: and stuff like that. But but it's true. There's a

840
00:39:39,000 --> 00:39:42,080
Speaker 1: there's a massive amount of wealth in the United States

841
00:39:42,080 --> 00:39:45,680
Speaker 1: and globally that are in these instruments which are negative

842
00:39:45,760 --> 00:39:48,879
Speaker 1: yield when you count account inflation. You know, they're they're

843
00:39:48,920 --> 00:39:52,000
Speaker 1: losing their purchasing power as they speak. And um, a

844
00:39:52,000 --> 00:39:53,799
Speaker 1: lot of people just won't realize it. You know, if

845
00:39:53,800 --> 00:39:56,680
Speaker 1: we do have hyper bitchonization or uh, you know, a

846
00:39:56,719 --> 00:40:00,800
Speaker 1: full real hyper inflation, uh, you can collapse. There's a

847
00:40:00,800 --> 00:40:02,319
Speaker 1: lot of people who just won't even know that it

848
00:40:02,360 --> 00:40:05,399
Speaker 1: happened until it's too late. You know, they just won't

849
00:40:05,400 --> 00:40:07,560
Speaker 1: even know. They'll be the ones sitting on the you know,

850
00:40:07,600 --> 00:40:09,880
Speaker 1: every time there's a banking collapse, you see people sitting

851
00:40:09,880 --> 00:40:12,759
Speaker 1: outside the bank. That's the that's the photo the reporters want,

852
00:40:13,160 --> 00:40:14,759
Speaker 1: and that's probably going to happen in the US, and

853
00:40:14,760 --> 00:40:17,160
Speaker 1: people will be sitting outside the bank crying because they've

854
00:40:17,160 --> 00:40:20,319
Speaker 1: lost their their life savings, which is horrible, but there's

855
00:40:20,320 --> 00:40:21,680
Speaker 1: a lot of people who just you know, they're not

856
00:40:21,680 --> 00:40:24,640
Speaker 1: going to get it until they get it. I love

857
00:40:24,680 --> 00:40:27,320
Speaker 1: the book When Money Dies, and they it basically documents,

858
00:40:27,360 --> 00:40:31,719
Speaker 1: you know, the Weimar Republic hyper hyper inflation. And the

859
00:40:31,800 --> 00:40:33,520
Speaker 1: part that sticks out to me about the book is

860
00:40:34,880 --> 00:40:36,920
Speaker 1: that they were it was kind of like this biography.

861
00:40:36,920 --> 00:40:38,680
Speaker 1: They're kind of interviewing people that kind of lived through that,

862
00:40:39,080 --> 00:40:42,480
Speaker 1: and all of these people saw the rapid increase in

863
00:40:42,520 --> 00:40:45,040
Speaker 1: prices of their gold and their real estate and all

864
00:40:45,040 --> 00:40:47,640
Speaker 1: their assets, but they all thought it was a bubble

865
00:40:47,719 --> 00:40:49,680
Speaker 1: and that they should sell those assets at the top

866
00:40:49,719 --> 00:40:52,000
Speaker 1: of the market. So they sold their gold, they sold

867
00:40:52,000 --> 00:40:54,080
Speaker 1: their real estate, whatever it was they owned at the

868
00:40:54,120 --> 00:40:56,920
Speaker 1: top before it crashed back down. And then they ended

869
00:40:56,960 --> 00:40:58,960
Speaker 1: up holding a bunch of worthless paper, and they had

870
00:40:59,000 --> 00:41:02,160
Speaker 1: no assets, and the paper game so worth worth so

871
00:41:02,280 --> 00:41:05,000
Speaker 1: little that they eventually just burned the paper because it

872
00:41:05,040 --> 00:41:07,200
Speaker 1: was worth less than even the wood, was right, And

873
00:41:07,239 --> 00:41:08,799
Speaker 1: so I kind of think about it like that, where

874
00:41:08,840 --> 00:41:12,400
Speaker 1: like to your point, right, people see these rising prices,

875
00:41:13,239 --> 00:41:16,240
Speaker 1: real estate rising super fast. Gold now is pumping bitcoin

876
00:41:16,280 --> 00:41:20,319
Speaker 1: obviously all these things, stocks, equities, et cetera. And some

877
00:41:20,360 --> 00:41:22,080
Speaker 1: of them are like, oh, that's a bubble, I don't

878
00:41:22,080 --> 00:41:24,719
Speaker 1: want to buy, or oh I should sell before it crashes,

879
00:41:25,120 --> 00:41:28,480
Speaker 1: without maybe really to your point, understanding what's going on here.

880
00:41:28,200 --> 00:41:29,759
Speaker 1: If if you don't zoom out and look at the

881
00:41:29,760 --> 00:41:33,360
Speaker 1: big picture. Yeah, you got to look at the big picture.

882
00:41:33,360 --> 00:41:36,000
Speaker 1: You know, a lot of people say Charlie Shrem had

883
00:41:36,040 --> 00:41:37,839
Speaker 1: a funny line. Somebody said, Oh, I wish I would

884
00:41:37,880 --> 00:41:40,120
Speaker 1: have bought bitcoin at ten cents, he says, he said,

885
00:41:40,120 --> 00:41:43,600
Speaker 1: you would have sold it at twenty cents. You know, people,

886
00:41:44,280 --> 00:41:46,640
Speaker 1: you've got to internalize what is money and why this

887
00:41:46,719 --> 00:41:49,319
Speaker 1: makes sense. Otherwise people will make that mistake. And there's

888
00:41:49,360 --> 00:41:51,120
Speaker 1: men many who've made it over the last ten years

889
00:41:51,120 --> 00:41:53,280
Speaker 1: where they view this as a trade. They view bitcoin

890
00:41:53,320 --> 00:41:55,399
Speaker 1: as a way to get more FIA. So they bought

891
00:41:55,400 --> 00:41:57,040
Speaker 1: it at one hundred and were psyched because they sold

892
00:41:57,080 --> 00:41:58,720
Speaker 1: it at one hundred and ten. You know the famous

893
00:41:58,760 --> 00:42:02,280
Speaker 1: bitcoin transaction, the pizzas that were bought for ten thousand bitcoin.

894
00:42:03,160 --> 00:42:06,480
Speaker 1: That bitcoin was at roughly well it was like one

895
00:42:06,560 --> 00:42:09,200
Speaker 1: hundred and fifty bucks or something like that for the

896
00:42:09,200 --> 00:42:12,719
Speaker 1: ten thousand coins, so he got two pizzas, and then

897
00:42:12,760 --> 00:42:16,600
Speaker 1: when bitcoin hit ten cents, he sold those coins and

898
00:42:16,600 --> 00:42:19,239
Speaker 1: bought a laptop. I think. So he's like, whoo, I

899
00:42:19,320 --> 00:42:22,799
Speaker 1: turned five one hundred and fifty bucks into a thousand bucks, suckers.

900
00:42:23,400 --> 00:42:25,520
Speaker 1: You know, well, you know he would have ten thousand

901
00:42:25,560 --> 00:42:29,120
Speaker 1: bitcoin if he had held them, so you know, you know,

902
00:42:29,200 --> 00:42:32,439
Speaker 1: and I've had panic both ways. You know, sometimes I've

903
00:42:32,680 --> 00:42:35,759
Speaker 1: worried about market falling, but a couple of times I've

904
00:42:35,760 --> 00:42:38,000
Speaker 1: panicked the other way. I worry about FIAT falling. You know,

905
00:42:38,000 --> 00:42:39,560
Speaker 1: there was a time a while ago where I'm like,

906
00:42:40,080 --> 00:42:41,920
Speaker 1: I just gotta get in. I gotta get more bitcoin

907
00:42:41,960 --> 00:42:46,080
Speaker 1: before this whole thing crashes. So thinking about those kind

908
00:42:46,080 --> 00:42:48,120
Speaker 1: of things and internalizing them and getting into the right

909
00:42:48,160 --> 00:42:50,439
Speaker 1: assets and stuff is key. But that's not an easy game.

910
00:42:50,480 --> 00:42:52,600
Speaker 1: You know, professionals get it wrong all the time. You're

911
00:42:52,640 --> 00:42:54,560
Speaker 1: better off just kind of get you know, having some

912
00:42:54,640 --> 00:42:57,239
Speaker 1: sound money, maybe even some gold, but you know, I

913
00:42:57,280 --> 00:43:00,400
Speaker 1: like bitcoin, uh, and kind of setting it in forgetting

914
00:43:00,400 --> 00:43:02,680
Speaker 1: it just so you have this head against who knows

915
00:43:02,719 --> 00:43:04,960
Speaker 1: what's going to happen. We are in crazy times right now. Well,

916
00:43:04,960 --> 00:43:07,080
Speaker 1: I gave a talk. I went to a Bitcoin ski

917
00:43:07,080 --> 00:43:09,440
Speaker 1: week in Jackson Whole a couple weeks ago, and I

918
00:43:09,480 --> 00:43:12,319
Speaker 1: gave this talk. I called it the predictable Future. They

919
00:43:12,320 --> 00:43:14,360
Speaker 1: want me to talk about the uncertainty of the financial system,

920
00:43:14,360 --> 00:43:15,520
Speaker 1: but I was like, no, no no, no, let's talk about

921
00:43:15,520 --> 00:43:17,640
Speaker 1: the certainty of it. The predictable future. And if you

922
00:43:17,680 --> 00:43:19,440
Speaker 1: look out and you see what's happening, you know, you

923
00:43:19,480 --> 00:43:22,440
Speaker 1: look at the US Treasury's budget, you look at their

924
00:43:22,480 --> 00:43:27,280
Speaker 1: now declining tax receipts, and they're increasing payments on the interest.

925
00:43:28,080 --> 00:43:30,160
Speaker 1: You know, even then, even the Treasure of themselves put

926
00:43:30,160 --> 00:43:32,480
Speaker 1: out a paper in twenty twenty one that it was

927
00:43:32,480 --> 00:43:35,319
Speaker 1: an unsustainable path. And when you take a look at

928
00:43:35,320 --> 00:43:38,799
Speaker 1: all this information, you see that there's no way out

929
00:43:38,840 --> 00:43:41,600
Speaker 1: but to keep printing. It's the only option. And so

930
00:43:41,880 --> 00:43:43,640
Speaker 1: if you we don't we don't know what's gonna happen

931
00:43:43,640 --> 00:43:45,759
Speaker 1: over the next couple months. I mean, the volatility. Maybe

932
00:43:45,760 --> 00:43:48,040
Speaker 1: we can talk about that, the volatility, what's gonna happen

933
00:43:48,080 --> 00:43:50,200
Speaker 1: over the next couple of months, But like over the

934
00:43:50,239 --> 00:43:52,359
Speaker 1: next five years or ten years, like we know what's

935
00:43:52,360 --> 00:43:54,400
Speaker 1: going to happen like there's just no way out but

936
00:43:54,520 --> 00:43:57,279
Speaker 1: to print trillions and trillions and trillions of dollars. And

937
00:43:57,320 --> 00:44:00,560
Speaker 1: so when they do that, that makes a sad prices

938
00:44:00,600 --> 00:44:02,319
Speaker 1: go up, and so you should probably want to do

939
00:44:02,320 --> 00:44:03,760
Speaker 1: that and you want to kind of just stay zoomed

940
00:44:03,760 --> 00:44:07,040
Speaker 1: out and ride that long trend um. How have you

941
00:44:07,080 --> 00:44:09,520
Speaker 1: manage to state? Uh, in it for so long with

942
00:44:09,560 --> 00:44:13,080
Speaker 1: the volatility that you've had to deal with. You know,

943
00:44:13,120 --> 00:44:15,799
Speaker 1: I M being in the financial business for so long

944
00:44:15,840 --> 00:44:18,040
Speaker 1: really helped me a lot. You know, I avoided trading.

945
00:44:18,160 --> 00:44:20,360
Speaker 1: You know, I haven't. I've probably done I don't know,

946
00:44:20,400 --> 00:44:22,440
Speaker 1: a couple dozen trades in ten years. You know, I

947
00:44:22,760 --> 00:44:26,719
Speaker 1: don't trade. Um. You know, I very very rarely will

948
00:44:26,800 --> 00:44:29,120
Speaker 1: kind of speculate on you know, what's it going to do?

949
00:44:29,480 --> 00:44:32,160
Speaker 1: You know, by day or by week or by month.

950
00:44:32,520 --> 00:44:35,160
Speaker 1: You know, I'm more looking at long term. Um. You know,

951
00:44:35,200 --> 00:44:37,799
Speaker 1: I try and keep very conservative. Surviving is a big

952
00:44:37,840 --> 00:44:41,520
Speaker 1: thing both right now and in crypto and you know,

953
00:44:41,600 --> 00:44:43,800
Speaker 1: most likely going forward in the future. You know, you

954
00:44:44,239 --> 00:44:46,839
Speaker 1: always always want to make sure that you have enough

955
00:44:46,840 --> 00:44:49,680
Speaker 1: financial stability to you know, at the very basic level,

956
00:44:49,760 --> 00:44:51,920
Speaker 1: pay for a few months expenses, pay for food and

957
00:44:52,120 --> 00:44:54,480
Speaker 1: rent and things like that. If you lose your job

958
00:44:54,560 --> 00:44:57,480
Speaker 1: or lose your wealth. Uh, you know, have some diversification.

959
00:44:57,800 --> 00:45:00,520
Speaker 1: As you get more you know, more wealth or a

960
00:45:00,560 --> 00:45:03,279
Speaker 1: more complex situation, you can look at things like you know,

961
00:45:03,320 --> 00:45:06,759
Speaker 1: owning some hard assets like real estate, having you know,

962
00:45:06,880 --> 00:45:10,880
Speaker 1: bitcoin backup plans, uh, you know, planning for contingencies. You know,

963
00:45:10,960 --> 00:45:14,239
Speaker 1: I just try and you know, survive and and and

964
00:45:14,360 --> 00:45:17,680
Speaker 1: be cautious and prudent um. And that served me well

965
00:45:17,719 --> 00:45:21,399
Speaker 1: so far. Play the long game, Yeah, the long game.

966
00:45:21,520 --> 00:45:24,799
Speaker 1: What about and so what's your take on the CBDCs? Right, So,

967
00:45:24,840 --> 00:45:28,920
Speaker 1: like now it seems like all these banks collapsing are

968
00:45:28,960 --> 00:45:31,280
Speaker 1: leading this to this like bank consolidation. Now. The FEDS

969
00:45:31,280 --> 00:45:33,759
Speaker 1: saying they're rolling out this FED now, which is sort

970
00:45:33,800 --> 00:45:37,080
Speaker 1: of like a digital payment system, maybe not directly a CBDC.

971
00:45:37,480 --> 00:45:39,480
Speaker 1: Of course we know China's rollers out. Of course they

972
00:45:39,480 --> 00:45:42,080
Speaker 1: did because they're communists. Um. You know, Europe's trying to

973
00:45:42,120 --> 00:45:46,080
Speaker 1: push their through pretty quickly. Um. You know, I've kind

974
00:45:46,080 --> 00:45:49,080
Speaker 1: of thought in the United States that maybe we wouldn't

975
00:45:49,080 --> 00:45:51,120
Speaker 1: we wouldn't be rushing into it because you know, we

976
00:45:51,160 --> 00:45:53,960
Speaker 1: still have that pesky document called the Constitution kind of

977
00:45:54,000 --> 00:45:56,239
Speaker 1: limits the powers of the fed um. Of course they

978
00:45:56,280 --> 00:45:58,719
Speaker 1: try to get around that whenever they can. Maybe also

979
00:45:58,760 --> 00:46:01,360
Speaker 1: the pushback that that might happen in the United States.

980
00:46:02,719 --> 00:46:06,719
Speaker 1: What's your take on the CBDC coming in. Yeah, you know,

981
00:46:06,760 --> 00:46:11,040
Speaker 1: central bank digital currencies are a big, big danger that

982
00:46:11,080 --> 00:46:15,239
Speaker 1: everybody should be aware of because in a digital world,

983
00:46:15,320 --> 00:46:18,600
Speaker 1: the world that we are in now, a central bank

984
00:46:18,640 --> 00:46:22,399
Speaker 1: digital currency has the ability, you know, will will have

985
00:46:23,040 --> 00:46:25,799
Speaker 1: a mechanism of control by the issue or which is

986
00:46:25,800 --> 00:46:29,319
Speaker 1: a central bank, which is the government, basically which is politicians.

987
00:46:30,760 --> 00:46:33,880
Speaker 1: And so basically you're giving politicians control of your money,

988
00:46:33,880 --> 00:46:35,680
Speaker 1: not just how they print it and how they inflate

989
00:46:35,680 --> 00:46:37,440
Speaker 1: it and give it to their cronies, which they already do,

990
00:46:37,920 --> 00:46:41,480
Speaker 1: but your specific money right down to probably your own wallet,

991
00:46:42,160 --> 00:46:45,400
Speaker 1: and the ability for politicians to have even the potential

992
00:46:45,440 --> 00:46:48,920
Speaker 1: of being able to freeze your money is unacceptable. It

993
00:46:49,040 --> 00:46:52,440
Speaker 1: is a power you cannot have them have in a

994
00:46:52,520 --> 00:46:55,600
Speaker 1: digital world. I mean, it is way too great of

995
00:46:55,640 --> 00:46:59,280
Speaker 1: a power and too ripe for abuse because very simply

996
00:47:00,040 --> 00:47:03,400
Speaker 1: if they shut you off, they in a digital world,

997
00:47:03,520 --> 00:47:05,399
Speaker 1: you don't have a lot of options if they if

998
00:47:05,400 --> 00:47:07,680
Speaker 1: they can shut your money off, and your money literally

999
00:47:07,719 --> 00:47:11,520
Speaker 1: isn't any good anymore. Your money doesn't work. My money works,

1000
00:47:11,520 --> 00:47:14,759
Speaker 1: and yours doesn't. You're at a tremendous disadvantage. You can't

1001
00:47:14,760 --> 00:47:17,080
Speaker 1: really do anything. I mean, you probably can't even barely

1002
00:47:17,080 --> 00:47:19,600
Speaker 1: survive for three days, you know, three four days maybe,

1003
00:47:19,640 --> 00:47:21,000
Speaker 1: you know, depending how much food you have if you're

1004
00:47:21,000 --> 00:47:23,640
Speaker 1: a prepper, maybe six months or something. But it'd be

1005
00:47:23,640 --> 00:47:26,000
Speaker 1: extremely difficult. I mean, even as a prepper, I need

1006
00:47:26,040 --> 00:47:29,040
Speaker 1: fuel if I can't get if they had a CBDC

1007
00:47:29,200 --> 00:47:31,600
Speaker 1: and I said something they don't like, you know, or Trudeau.

1008
00:47:31,920 --> 00:47:33,719
Speaker 1: You know, Trudeau tried to shut off there, or he

1009
00:47:33,719 --> 00:47:35,680
Speaker 1: did shut off the visa and the MasterCard and the

1010
00:47:35,680 --> 00:47:38,359
Speaker 1: PayPal of these truckers. If he could shut off their

1011
00:47:38,440 --> 00:47:41,360
Speaker 1: money at the at the route, so their money just

1012
00:47:41,400 --> 00:47:44,680
Speaker 1: didn't work anymore, he could eliminate his political opponents, you know,

1013
00:47:44,719 --> 00:47:46,440
Speaker 1: and he could do for any reason, and you never

1014
00:47:46,480 --> 00:47:49,160
Speaker 1: even hear from them because they wouldn't have internet connection.

1015
00:47:49,320 --> 00:47:51,440
Speaker 1: He can't you know, you can't get on the internet.

1016
00:47:51,480 --> 00:47:53,560
Speaker 1: You can't even drive, you know, you can't even go

1017
00:47:53,600 --> 00:47:56,680
Speaker 1: to a local rally. You know, suppose they pulled this

1018
00:47:56,800 --> 00:47:59,520
Speaker 1: on me, you know, I wouldn't even be able to

1019
00:47:59,600 --> 00:48:03,680
Speaker 1: drive to your studio. You know, because I wouldn't get gas,

1020
00:48:04,200 --> 00:48:06,560
Speaker 1: you know, I mean, it's it's a it's just too

1021
00:48:06,600 --> 00:48:09,319
Speaker 1: great of a power to give politicians, especially in this

1022
00:48:09,360 --> 00:48:12,240
Speaker 1: world where they have shown themselves not to be trusted

1023
00:48:12,239 --> 00:48:15,080
Speaker 1: and they've abused us again and again with increased tyranny

1024
00:48:15,120 --> 00:48:18,160
Speaker 1: and authoritarianism. You know, we just can't allow politicians to

1025
00:48:18,160 --> 00:48:20,279
Speaker 1: have that, no matter what political stripe you're from, whether

1026
00:48:20,320 --> 00:48:24,719
Speaker 1: you're libertarian, anarchist, republican, Democrat status, you just can't. And

1027
00:48:25,120 --> 00:48:27,880
Speaker 1: you know, I always say, just picture your least favorite politician,

1028
00:48:27,920 --> 00:48:31,440
Speaker 1: whether that's Pelosi or Trump or someone else, whoever your

1029
00:48:31,520 --> 00:48:33,480
Speaker 1: least favorite is. You don't want them to have that power,

1030
00:48:33,560 --> 00:48:36,000
Speaker 1: the power to make it so that you you're just

1031
00:48:36,080 --> 00:48:38,520
Speaker 1: completely shut off. Your credit cards don't work, your money

1032
00:48:38,520 --> 00:48:40,560
Speaker 1: doesn't work, your internet won't work, you won't be able

1033
00:48:40,600 --> 00:48:43,160
Speaker 1: to pay your rent, your mortgage, or your taxes. Um.

1034
00:48:43,480 --> 00:48:46,520
Speaker 1: It's major, major trouble. And we and I mean even

1035
00:48:46,560 --> 00:48:49,440
Speaker 1: just errors and things like that, they could accidentally, you know,

1036
00:48:49,440 --> 00:48:51,400
Speaker 1: if they if they roll this out, it's only a

1037
00:48:51,400 --> 00:48:55,439
Speaker 1: matter of time before they're accidentally seizing people's money as well. Um,

1038
00:48:55,600 --> 00:48:57,440
Speaker 1: And and all you know, they'll just expand it and

1039
00:48:57,480 --> 00:48:59,640
Speaker 1: expand it, expand it like they do with everything else.

1040
00:49:00,040 --> 00:49:01,960
Speaker 1: You know, they'll say, well, what about the children, shouldn't

1041
00:49:02,000 --> 00:49:06,960
Speaker 1: we freeze the uh you know, the kidnappers, you know

1042
00:49:07,040 --> 00:49:09,919
Speaker 1: money and you know, of course, well what about terrorists? Okay,

1043
00:49:10,040 --> 00:49:12,520
Speaker 1: let's seize their money too well. Isn't kind of everybody

1044
00:49:12,520 --> 00:49:15,239
Speaker 1: at terroist? Yeah, you know, what about racists? Let's seize

1045
00:49:15,239 --> 00:49:17,880
Speaker 1: their money too well, isn't everybody a racist? What about Republicans?

1046
00:49:17,960 --> 00:49:19,920
Speaker 1: Let's just seize their money? I mean, you can, you

1047
00:49:19,920 --> 00:49:22,440
Speaker 1: can just keep seeing how it's very easy to expand

1048
00:49:22,520 --> 00:49:27,399
Speaker 1: this and the people at the brunt of it um,

1049
00:49:27,480 --> 00:49:29,560
Speaker 1: you know, have very little ways to fight that, you know,

1050
00:49:29,640 --> 00:49:31,440
Speaker 1: because you can, you can shut off their voice and

1051
00:49:31,480 --> 00:49:35,080
Speaker 1: shut off their ability to even survive. Uh So, no,

1052
00:49:35,280 --> 00:49:38,200
Speaker 1: we we've got to fight this like crazy. We you know,

1053
00:49:38,239 --> 00:49:40,600
Speaker 1: it's it's exhausting, but we have to. We have to

1054
00:49:40,640 --> 00:49:43,279
Speaker 1: fight CBDCs. We can't allow this to happen. I mean,

1055
00:49:43,320 --> 00:49:46,040
Speaker 1: and and we saw Ronda santist And in Florida, I

1056
00:49:46,080 --> 00:49:48,520
Speaker 1: think yesterday or this week was saying he's going to

1057
00:49:48,560 --> 00:49:51,160
Speaker 1: sign some bills where they can't at CBDCs in Florida,

1058
00:49:51,239 --> 00:49:52,920
Speaker 1: which doesn't really make a lot of sense. Obviously, it's

1059
00:49:52,960 --> 00:49:55,120
Speaker 1: a would be a federal federal thing, not in Assai

1060
00:49:55,200 --> 00:49:57,560
Speaker 1: state thing. Uh we see, you know Rep. Tom Emmer

1061
00:49:57,640 --> 00:49:59,160
Speaker 1: is doing a lot of pushback. Ted cru has been

1062
00:49:59,200 --> 00:50:01,319
Speaker 1: doing pushbacks. So there are are some people fighting the fight.

1063
00:50:02,360 --> 00:50:04,480
Speaker 1: So I guess, uh, I mean, do you think this

1064
00:50:04,560 --> 00:50:06,520
Speaker 1: is something that maybe won't shift? The other thing? The

1065
00:50:06,680 --> 00:50:10,520
Speaker 1: thing I take a little bit of solacen is is

1066
00:50:10,560 --> 00:50:14,359
Speaker 1: in the FED zone, the government's own incompetence, Like, how

1067
00:50:14,400 --> 00:50:16,520
Speaker 1: did it work for them getting an Obamacare website off

1068
00:50:16,520 --> 00:50:18,960
Speaker 1: the ground, right? They can't even overhaul the IRS website,

1069
00:50:19,000 --> 00:50:20,640
Speaker 1: So like I also kind of have a little bit

1070
00:50:20,640 --> 00:50:23,279
Speaker 1: of faith in their incompetence. Um, But I mean, do

1071
00:50:23,320 --> 00:50:25,680
Speaker 1: you think this is something that maybe you definitely see

1072
00:50:25,680 --> 00:50:27,759
Speaker 1: obviously in the communist countries, but me doesn't really happen

1073
00:50:27,760 --> 00:50:29,160
Speaker 1: in the US, or is it it's a real threat

1074
00:50:29,200 --> 00:50:31,680
Speaker 1: of going through and we really got to be vigilant. Yeah,

1075
00:50:31,719 --> 00:50:33,799
Speaker 1: I think it's a real threat. I mean, you know,

1076
00:50:33,840 --> 00:50:37,759
Speaker 1: they may be incompetent, but never underestimate their ability to

1077
00:50:37,800 --> 00:50:39,920
Speaker 1: do violence. You know, there's always a meathead with an

1078
00:50:39,920 --> 00:50:43,560
Speaker 1: IQ of seventy who will light a match or you

1079
00:50:43,600 --> 00:50:47,640
Speaker 1: shoot a gun, and you know, they'll just that it

1080
00:50:47,760 --> 00:50:50,319
Speaker 1: is a tool of force and violence, and they can

1081
00:50:50,320 --> 00:50:52,640
Speaker 1: force you to They can force you to use a

1082
00:50:52,640 --> 00:50:55,399
Speaker 1: bad website, if they start arresting people, they can force

1083
00:50:55,440 --> 00:50:57,480
Speaker 1: the banks to do it. They there's a million different

1084
00:50:57,480 --> 00:50:59,920
Speaker 1: ways they can make this work. And you look at

1085
00:50:59,920 --> 00:51:02,920
Speaker 1: the level of tyranny that we saw over the last

1086
00:51:02,960 --> 00:51:05,680
Speaker 1: few years with these crazy policies that were based on nothing.

1087
00:51:06,040 --> 00:51:09,040
Speaker 1: You know, we now look back and you know, we

1088
00:51:09,120 --> 00:51:12,319
Speaker 1: see that you know, there was this idea of lockdowns

1089
00:51:12,400 --> 00:51:15,000
Speaker 1: was really there was no science saying that even their

1090
00:51:15,040 --> 00:51:18,840
Speaker 1: own plans with the CDC and others didn't have plans

1091
00:51:18,880 --> 00:51:22,399
Speaker 1: for a lockdown. That was just something people invented because

1092
00:51:22,400 --> 00:51:24,080
Speaker 1: they thought it sounded good and it gave them a

1093
00:51:24,080 --> 00:51:27,239
Speaker 1: good feeling, you know. Um so, so yeah, I mean,

1094
00:51:27,239 --> 00:51:29,879
Speaker 1: I wouldn't under I wouldn't underestimate the ability to push

1095
00:51:29,920 --> 00:51:33,040
Speaker 1: forward something even if they are incompetent. So I do

1096
00:51:33,120 --> 00:51:35,200
Speaker 1: worry about it quite a bit. I feel like, unfortunately,

1097
00:51:35,239 --> 00:51:36,960
Speaker 1: I feel like it's almost inevitable and we just have

1098
00:51:37,000 --> 00:51:40,719
Speaker 1: to hope that these other um, you know, alternatives or

1099
00:51:40,760 --> 00:51:42,840
Speaker 1: carve outs, you know, things like the Free State Project

1100
00:51:42,960 --> 00:51:45,759
Speaker 1: or what the Santis is doing, or bitcoin or you know,

1101
00:51:45,800 --> 00:51:50,120
Speaker 1: other things give us enough of counterbalance that we can

1102
00:51:50,160 --> 00:51:53,640
Speaker 1: effectively fight this or at least have an alternative to

1103
00:51:53,680 --> 00:51:57,759
Speaker 1: limit its power, kind of like guns, do you know, firearms, UM,

1104
00:51:58,600 --> 00:52:00,920
Speaker 1: you know do limit the power quite a bit of

1105
00:52:00,960 --> 00:52:03,280
Speaker 1: the state just to to you know, be heavy handed

1106
00:52:03,320 --> 00:52:06,839
Speaker 1: wholesale abuse of people. That's why you'll see, you know,

1107
00:52:06,840 --> 00:52:09,759
Speaker 1: when you when you have um, you know, kind of

1108
00:52:10,320 --> 00:52:12,880
Speaker 1: groups that are more pro gun, the police tend to

1109
00:52:12,920 --> 00:52:15,320
Speaker 1: be lighter hands, you know, when it's when it's Occupy

1110
00:52:15,440 --> 00:52:19,759
Speaker 1: Wall Street, which was mostly lefties who are unarmed, and

1111
00:52:20,040 --> 00:52:22,040
Speaker 1: also a lot of New York where you can't be

1112
00:52:22,160 --> 00:52:25,600
Speaker 1: armed just mazing them and handcuffing them and abusing them.

1113
00:52:26,200 --> 00:52:28,560
Speaker 1: But if you see like a pro firearms rally in

1114
00:52:28,640 --> 00:52:31,440
Speaker 1: Connecticut or something, you know, they cops aren't just amazing

1115
00:52:31,480 --> 00:52:34,320
Speaker 1: people wildly, and it's not because they're worried about getting shot.

1116
00:52:34,719 --> 00:52:36,440
Speaker 1: It's just because you have a little bit better a

1117
00:52:36,440 --> 00:52:39,560
Speaker 1: balance of power. Hopefully you can do that with CBDCs

1118
00:52:39,680 --> 00:52:42,680
Speaker 1: where you know you have some of these regulations. We'd

1119
00:52:42,680 --> 00:52:44,480
Speaker 1: like to get something like that passed in New Hampshire

1120
00:52:44,480 --> 00:52:46,279
Speaker 1: as well. It is hard, Like you said, I looked

1121
00:52:46,280 --> 00:52:48,480
Speaker 1: at the legislation, and I have some friends that are

1122
00:52:48,480 --> 00:52:51,960
Speaker 1: state legislators. It's not easy to prevent because because state

1123
00:52:52,040 --> 00:52:54,759
Speaker 1: law can't supersede the FED, so it's not easy to

1124
00:52:54,840 --> 00:52:57,759
Speaker 1: just say, you know, no, the FED can't come in here,

1125
00:52:57,800 --> 00:52:59,680
Speaker 1: and nothing is welcome. You know, it's it's it's a

1126
00:52:59,680 --> 00:53:02,440
Speaker 1: trick your rule. If there's any lawyers out there, you know,

1127
00:53:02,440 --> 00:53:04,120
Speaker 1: that's a great area. If you can figure out a

1128
00:53:04,120 --> 00:53:06,359
Speaker 1: clever way to make it so that a state can

1129
00:53:06,400 --> 00:53:09,400
Speaker 1: do this, you could you know, piggyback off of Florida

1130
00:53:09,640 --> 00:53:11,840
Speaker 1: and apply it to places like New Hampshire, Wyoming or

1131
00:53:11,880 --> 00:53:13,880
Speaker 1: other places where it might be likely to be passed.

1132
00:53:14,520 --> 00:53:16,440
Speaker 1: But yeah, you know, I worry about it. I think

1133
00:53:16,440 --> 00:53:19,200
Speaker 1: it's something we have to be very cautious. Yeah, definitely, definitely,

1134
00:53:19,280 --> 00:53:20,879
Speaker 1: And we can see it playing out an other other

1135
00:53:20,960 --> 00:53:23,479
Speaker 1: other countries, so we kind of get a head start

1136
00:53:23,600 --> 00:53:25,440
Speaker 1: or a look into the future of that. But certainly

1137
00:53:25,760 --> 00:53:29,680
Speaker 1: it would be the final piece for their what we'd

1138
00:53:29,719 --> 00:53:32,440
Speaker 1: call a digital panopticon, right, like the turn us into

1139
00:53:32,520 --> 00:53:35,319
Speaker 1: digital surfs, right, And so we'd have to keep that

1140
00:53:35,360 --> 00:53:37,960
Speaker 1: from happening. I agree. Without the freedom to transact, there

1141
00:53:38,120 --> 00:53:41,239
Speaker 1: is no freedom. So man with that. I think we're

1142
00:53:41,239 --> 00:53:44,560
Speaker 1: going to wrap it up. You know, I know you

1143
00:53:44,600 --> 00:53:46,880
Speaker 1: have a lot of things going on. You know, Watchdog Capital,

1144
00:53:46,920 --> 00:53:49,040
Speaker 1: I think is kind of your big things to Toshy roundtable.

1145
00:53:49,239 --> 00:53:50,960
Speaker 1: Anything you want to shout out or draw attention to

1146
00:53:51,280 --> 00:53:54,239
Speaker 1: that we can link in the show notes. Yeah, I mean,

1147
00:53:54,360 --> 00:53:57,200
Speaker 1: pursue freedom and you know, follow me on Twitter or whatever.

1148
00:53:57,239 --> 00:53:59,839
Speaker 1: But you know, we're all in this together. We've got

1149
00:53:59,840 --> 00:54:02,040
Speaker 1: to we we decide what our world is going to

1150
00:54:02,120 --> 00:54:05,279
Speaker 1: look like in this crazy fourth turning. And you know,

1151
00:54:05,360 --> 00:54:09,440
Speaker 1: just as people in centuries past, they were just normal people.

1152
00:54:09,440 --> 00:54:12,359
Speaker 1: Our founding fathers and others did brave things and made

1153
00:54:12,400 --> 00:54:14,560
Speaker 1: the world a better place. Uh, you know, it's it's

1154
00:54:14,560 --> 00:54:16,920
Speaker 1: our duty to do that now. So, um, you know,

1155
00:54:16,920 --> 00:54:18,600
Speaker 1: we should all be aware of these things and talking

1156
00:54:18,600 --> 00:54:20,160
Speaker 1: about it. And you're doing a great thing by talking

1157
00:54:20,160 --> 00:54:23,279
Speaker 1: about these these issues so much. So, UM, you know,

1158
00:54:23,840 --> 00:54:26,160
Speaker 1: we're all in this together. Let's let's make the world

1159
00:54:26,200 --> 00:54:29,880
Speaker 1: better and more free and more decentralized. Pursue freedom. I

1160
00:54:30,000 --> 00:54:33,040
Speaker 1: love it. That's the mission, all right, Bruce, thanks so much,

1161
00:54:33,040 --> 00:54:35,400
Speaker 1: appreciate it. Awesome, Thank you