1 00:00:00,040 --> 00:00:02,759 Speaker 1: Hey, everyone, Welcome back to another episode of The Mark 2 00:00:02,840 --> 00:00:06,040 Speaker 1: Moss Show. Coming to you each and every week talking 3 00:00:06,080 --> 00:00:09,520 Speaker 1: to you about talking you through, trying to guide you 4 00:00:09,560 --> 00:00:11,480 Speaker 1: and explain to you what is going on with the 5 00:00:11,480 --> 00:00:14,960 Speaker 1: world through this decentralized revolution that the world is going through. 6 00:00:15,640 --> 00:00:20,120 Speaker 1: Talking about the intersection of politics, finance, and technology changing 7 00:00:20,200 --> 00:00:22,160 Speaker 1: the world as we know it. Of course that's being 8 00:00:22,239 --> 00:00:26,000 Speaker 1: led by bitcoin and cryptocurrencies and all these new technologies 9 00:00:26,000 --> 00:00:31,360 Speaker 1: that are driving this change. And as the world changes, UM, 10 00:00:31,640 --> 00:00:36,479 Speaker 1: volatility happens, right, changes hard. Um usually well, a lot 11 00:00:36,479 --> 00:00:39,600 Speaker 1: of times change is good, but it's not always fun. 12 00:00:39,640 --> 00:00:41,720 Speaker 1: It's not always easy, and that's exactly what we're seeing 13 00:00:41,720 --> 00:00:45,640 Speaker 1: in the world. Um. We're going through massive changes. And 14 00:00:45,720 --> 00:00:48,360 Speaker 1: what that means is that new things are created, which 15 00:00:48,400 --> 00:00:50,599 Speaker 1: is exciting, but it also means old things that were 16 00:00:50,680 --> 00:00:54,000 Speaker 1: used to dies and so you know, it's good for something, 17 00:00:54,040 --> 00:00:57,360 Speaker 1: it's bad for others. Um. It could be extremely good 18 00:00:57,400 --> 00:01:01,720 Speaker 1: for you if you're paying attention, could be extremely good 19 00:01:01,800 --> 00:01:04,760 Speaker 1: for you if you position yourself to take advantage of it. 20 00:01:04,760 --> 00:01:06,679 Speaker 1: Could also be extremely bad for you. If you're not 21 00:01:06,680 --> 00:01:08,920 Speaker 1: paying attention, It could be extremely bad for you. If 22 00:01:08,959 --> 00:01:11,880 Speaker 1: you're part of one of the industries are part of 23 00:01:11,880 --> 00:01:15,640 Speaker 1: the part of the the economy that gets killed off. UM, 24 00:01:15,640 --> 00:01:18,600 Speaker 1: But that's okay. You have time. You can you can 25 00:01:18,680 --> 00:01:20,319 Speaker 1: change I like to say, you're not a tree. You 26 00:01:20,360 --> 00:01:23,080 Speaker 1: can move. You could change careers, you could change companies, 27 00:01:23,080 --> 00:01:26,520 Speaker 1: you could build new products, UM, you can change your investments. 28 00:01:26,920 --> 00:01:29,120 Speaker 1: You can do all these things. But only if you 29 00:01:29,160 --> 00:01:31,080 Speaker 1: have the information right, only if you know what the 30 00:01:31,120 --> 00:01:33,600 Speaker 1: heck is going on, which is why you need to 31 00:01:33,640 --> 00:01:37,400 Speaker 1: be tuned into me each and every week. UM. There's 32 00:01:37,400 --> 00:01:39,679 Speaker 1: a lot of people on the radio, and I appreciate 33 00:01:39,720 --> 00:01:41,479 Speaker 1: you listening to me. There's a lot of people that 34 00:01:42,040 --> 00:01:44,440 Speaker 1: UM can talk about politics, and there's a lot of 35 00:01:44,440 --> 00:01:48,120 Speaker 1: people that can talk about the finance, but in my opinion, 36 00:01:48,600 --> 00:01:53,080 Speaker 1: there's nobody putting it all together into the context of 37 00:01:53,120 --> 00:01:55,040 Speaker 1: what's going on in the world today like I am. 38 00:01:55,200 --> 00:01:57,360 Speaker 1: And so hopefully you joined each and every week. If 39 00:01:57,360 --> 00:01:59,960 Speaker 1: you're not driving poletryphone, real quick, put a calendar. Remind 40 00:02:00,040 --> 00:02:01,520 Speaker 1: do to make sure you tune in each and every 41 00:02:01,560 --> 00:02:05,240 Speaker 1: week on this time, this channel. UM. Try to make 42 00:02:05,240 --> 00:02:10,239 Speaker 1: it the most important, the most profitable, maybe somewhat entertaining 43 00:02:10,520 --> 00:02:13,160 Speaker 1: part of your week teaching every week. So thanks for 44 00:02:13,160 --> 00:02:17,160 Speaker 1: tuning in you listening to the markma Show, and uh man, 45 00:02:17,680 --> 00:02:20,399 Speaker 1: we have a never ending supply of stuff to talk 46 00:02:20,400 --> 00:02:23,080 Speaker 1: about because, as I said, right, the world is changing 47 00:02:23,240 --> 00:02:26,600 Speaker 1: and it's creating. It's an exciting time and there's so 48 00:02:26,680 --> 00:02:30,280 Speaker 1: much to talk about. And of course, what's dominating the 49 00:02:30,320 --> 00:02:32,679 Speaker 1: news over the last several weeks, and it's been dominating 50 00:02:32,720 --> 00:02:36,600 Speaker 1: what I'm talking about. It's dominating every other, um, mainstream 51 00:02:36,639 --> 00:02:39,280 Speaker 1: news and alternative news, whatever you wanna call, it's dominating everything. 52 00:02:39,320 --> 00:02:42,200 Speaker 1: All the headlines is of course the war going on 53 00:02:42,240 --> 00:02:46,359 Speaker 1: with Russia and Ukraine. But what I want to talk 54 00:02:46,400 --> 00:02:49,440 Speaker 1: about isn't the war on the Russia and Ukraine war 55 00:02:49,600 --> 00:02:53,120 Speaker 1: and what's happening with that, Um, what you know, we 56 00:02:53,160 --> 00:02:54,640 Speaker 1: can we can get into that. There's plenty of people 57 00:02:54,639 --> 00:02:57,639 Speaker 1: covering that. I saw a great piece by Tucker Carlson 58 00:02:57,720 --> 00:03:02,840 Speaker 1: this week, UM where he really talked about the politics 59 00:03:02,880 --> 00:03:06,160 Speaker 1: of Ukraine, which I thought was very interesting because it's 60 00:03:06,200 --> 00:03:10,560 Speaker 1: definitely different than what you're typically hearing across mainstream media, 61 00:03:10,639 --> 00:03:14,160 Speaker 1: which is, uh, the whole world now apparently stands with Ukraine. 62 00:03:15,280 --> 00:03:18,280 Speaker 1: Everybody's flying the Ukraine flag and I stand with Ukraine. 63 00:03:18,320 --> 00:03:21,520 Speaker 1: I stand with Ukraine and um, I do you know, 64 00:03:21,600 --> 00:03:24,760 Speaker 1: Mark Most does I mean, I'm not for dictators and 65 00:03:24,800 --> 00:03:26,960 Speaker 1: I'm not for tyranny. I'm not for war, I'm not 66 00:03:27,040 --> 00:03:29,760 Speaker 1: for people dying. I'm not for any of that. UM. 67 00:03:29,960 --> 00:03:35,960 Speaker 1: I would condemn any government leader from invading another country 68 00:03:36,000 --> 00:03:40,520 Speaker 1: and killing people innocently, Like I'm I'm always against that. UM. 69 00:03:40,560 --> 00:03:42,760 Speaker 1: But the piece that Tucker Carlson was talking about was 70 00:03:42,800 --> 00:03:47,080 Speaker 1: that that's fine, and you can have that stance, but 71 00:03:47,880 --> 00:03:54,840 Speaker 1: just understand what Ukraine is. Because Ukraine is not a democracy. 72 00:03:55,120 --> 00:03:58,040 Speaker 1: So if you're saying that we support a democracy and 73 00:03:58,120 --> 00:04:01,240 Speaker 1: Putin and Russia as a dictator, and so we're against 74 00:04:01,240 --> 00:04:03,840 Speaker 1: it because we don't want dictators taken over democracies, well 75 00:04:03,880 --> 00:04:07,520 Speaker 1: that's wrong. And it was It was interesting. He had 76 00:04:07,560 --> 00:04:09,360 Speaker 1: all the receipts, He had all the facts, all the 77 00:04:09,680 --> 00:04:11,880 Speaker 1: all the figures, all the data points to back that up. 78 00:04:11,880 --> 00:04:13,360 Speaker 1: If you're curious about it, go ahead and look it up. 79 00:04:13,360 --> 00:04:15,440 Speaker 1: I'm not gonna dig super deep into that. My point is, 80 00:04:16,839 --> 00:04:18,359 Speaker 1: as I'm talking about at my point is I'm not 81 00:04:18,360 --> 00:04:20,440 Speaker 1: going to talk about that. I mean that that's interesting 82 00:04:20,440 --> 00:04:21,920 Speaker 1: and that's a great piece, but I don't I don't 83 00:04:21,920 --> 00:04:24,520 Speaker 1: really care about that. Again, I want to bring what's 84 00:04:24,520 --> 00:04:27,080 Speaker 1: happening in the world into context, and so we're gonna 85 00:04:27,080 --> 00:04:29,320 Speaker 1: look at it from a much broader lens, because the 86 00:04:29,360 --> 00:04:34,600 Speaker 1: world as we know it is changing. The financial system 87 00:04:34,680 --> 00:04:37,120 Speaker 1: of the world is changing. As a matter of fact, 88 00:04:37,160 --> 00:04:42,719 Speaker 1: the global financial system is going through its fifth change 89 00:04:42,839 --> 00:04:45,359 Speaker 1: in about the last hundred years, about the last century. 90 00:04:45,880 --> 00:04:51,320 Speaker 1: So it's been massive changes to the global financial system. 91 00:04:51,360 --> 00:04:53,880 Speaker 1: And this is the fifth one, really the fourth one 92 00:04:54,120 --> 00:04:57,640 Speaker 1: in less than a hundred years, that has massive, massive 93 00:04:57,680 --> 00:05:03,440 Speaker 1: implications for your every day life. Your money, right, your 94 00:05:03,480 --> 00:05:05,640 Speaker 1: money is at the base of your life. That that 95 00:05:06,080 --> 00:05:09,240 Speaker 1: your money is how you know can you afford to 96 00:05:09,279 --> 00:05:12,000 Speaker 1: eat steak or do you eat slop? I mean, how 97 00:05:12,120 --> 00:05:14,479 Speaker 1: much food can you afford? Can you drive your car? 98 00:05:14,600 --> 00:05:16,920 Speaker 1: Can you go get entertainment, can you take a vacation? 99 00:05:17,279 --> 00:05:19,240 Speaker 1: Do you have to work more hours than you used to? 100 00:05:19,400 --> 00:05:23,000 Speaker 1: I mean everything hinges off of the money. And so 101 00:05:23,080 --> 00:05:25,560 Speaker 1: I want to talk about the rush of Ukraine situation, 102 00:05:26,000 --> 00:05:29,240 Speaker 1: and I'm going to talk about how the entire financial 103 00:05:29,320 --> 00:05:32,880 Speaker 1: system is changing right now. And as I said earlier, um, 104 00:05:32,920 --> 00:05:35,040 Speaker 1: if you understand this and if you navigate it properly, 105 00:05:35,040 --> 00:05:37,040 Speaker 1: then it could be a massive opportunity for you doesn't 106 00:05:37,080 --> 00:05:40,600 Speaker 1: have to be bad. Uncertainty is scary because you don't 107 00:05:40,640 --> 00:05:43,320 Speaker 1: have the future holds. But I have a I have 108 00:05:43,360 --> 00:05:47,719 Speaker 1: a daughter and she's graduating high school and uh, she's 109 00:05:47,760 --> 00:05:50,960 Speaker 1: kind of going through this realization that, oh, shoot, I 110 00:05:50,960 --> 00:05:53,080 Speaker 1: got to become an adult now, and I don't know 111 00:05:53,080 --> 00:05:56,159 Speaker 1: what to do. And uh, I'm scared because my whole 112 00:05:56,160 --> 00:05:58,160 Speaker 1: life has been laid out for me and now I 113 00:05:58,160 --> 00:06:00,159 Speaker 1: got to figure it out. And I told her the 114 00:06:00,160 --> 00:06:02,800 Speaker 1: same thing I'm telling you, which is that I get it. 115 00:06:02,800 --> 00:06:04,880 Speaker 1: It's scary. It's uncertain. You know, your whole life has 116 00:06:04,880 --> 00:06:06,000 Speaker 1: been laid up for you, and now you have to 117 00:06:06,040 --> 00:06:08,440 Speaker 1: go figure it out. And so while that's scary, it's 118 00:06:08,480 --> 00:06:11,640 Speaker 1: also should be exciting because now you can go right 119 00:06:11,760 --> 00:06:14,480 Speaker 1: whatever future you want. And so the same is true 120 00:06:14,480 --> 00:06:17,280 Speaker 1: with us. We're going into this uncertain world, but it 121 00:06:17,320 --> 00:06:20,280 Speaker 1: should be exciting because we get a new world and 122 00:06:20,400 --> 00:06:22,520 Speaker 1: if we navigate it correctly, we could we could benefit 123 00:06:22,520 --> 00:06:26,800 Speaker 1: from that. So, um, I'm talking about well, before I 124 00:06:26,839 --> 00:06:31,360 Speaker 1: frame up the five different times the global financial system 125 00:06:31,440 --> 00:06:34,120 Speaker 1: changed and what that meant for everybody. Before I frame 126 00:06:34,160 --> 00:06:36,840 Speaker 1: that up, I mean, you can see what's happening. As 127 00:06:36,880 --> 00:06:39,840 Speaker 1: the system is changing. Right, So, um, inflation you hear 128 00:06:39,839 --> 00:06:42,440 Speaker 1: about that all the time. Price is going up. Now 129 00:06:42,640 --> 00:06:45,680 Speaker 1: there's a whole another lesson about what inflation is. Inflation 130 00:06:45,800 --> 00:06:49,320 Speaker 1: is not prices going up. Prices going up is the result. 131 00:06:49,680 --> 00:06:53,360 Speaker 1: It's the effect of inflation. Inflation is the increase in 132 00:06:53,360 --> 00:06:56,160 Speaker 1: the money supply. But whatever, we have a massive increases 133 00:06:56,160 --> 00:06:58,400 Speaker 1: in the money supply, which is then leading to massive 134 00:06:58,640 --> 00:07:01,360 Speaker 1: prices increasing across the ward from consumer items, from the 135 00:07:01,400 --> 00:07:04,560 Speaker 1: amount of gas, the gas prices you pay, which I'm 136 00:07:04,600 --> 00:07:07,120 Speaker 1: here in southern California. Down here in Los Angeles, I 137 00:07:07,160 --> 00:07:10,320 Speaker 1: think we might have the highest gas prices in the nation, 138 00:07:10,800 --> 00:07:12,720 Speaker 1: maybe even the world. As a matter of fact, I 139 00:07:12,720 --> 00:07:15,240 Speaker 1: think we're over seven dollars and fifty cents a gallon. 140 00:07:15,280 --> 00:07:18,840 Speaker 1: It's insane. Um, So gas prices going up. Of course, 141 00:07:18,880 --> 00:07:21,040 Speaker 1: when gas prices go up, then everything goes up because 142 00:07:21,360 --> 00:07:23,440 Speaker 1: the food has to be trucked to the store, the 143 00:07:23,480 --> 00:07:25,000 Speaker 1: clothes up to be truck So then we have food 144 00:07:25,000 --> 00:07:28,320 Speaker 1: prices going up like crazy. Um. When we have prices 145 00:07:28,320 --> 00:07:30,560 Speaker 1: going up like crazy, we when we have massive inflation, 146 00:07:30,560 --> 00:07:33,760 Speaker 1: the economy is hurting. Then that has always historically and 147 00:07:33,840 --> 00:07:35,720 Speaker 1: this time is no different. Has led to wars, which 148 00:07:35,760 --> 00:07:38,760 Speaker 1: of course now we're talking about this Russia Ukraine war. UM. 149 00:07:39,000 --> 00:07:41,760 Speaker 1: And then when wars happen, then we have UM and 150 00:07:41,800 --> 00:07:43,520 Speaker 1: the and the inflation is a problem. Then we run 151 00:07:43,520 --> 00:07:46,920 Speaker 1: into other problems. So now we're running into UM food crisis. 152 00:07:47,160 --> 00:07:50,680 Speaker 1: So between Russia and Ukraine, they control thirty percent of 153 00:07:50,720 --> 00:07:54,320 Speaker 1: the global wheat and corn. That's a big problem. UM. 154 00:07:54,360 --> 00:07:56,880 Speaker 1: It's about twelve percent of the world's calories, which is 155 00:07:56,880 --> 00:07:58,680 Speaker 1: a pretty big deal. So now we have these few 156 00:07:58,760 --> 00:08:00,600 Speaker 1: food crisis that are happening all over the world. They 157 00:08:00,600 --> 00:08:06,160 Speaker 1: export UM over the of the of the fertilizer and 158 00:08:06,160 --> 00:08:08,640 Speaker 1: of course what do you need fertilizer for, Oh yeah, 159 00:08:08,680 --> 00:08:11,720 Speaker 1: to grow food. That's the problem. UM. And then we 160 00:08:11,800 --> 00:08:13,640 Speaker 1: have wars, right, wars always break out, And then we 161 00:08:13,640 --> 00:08:15,520 Speaker 1: have the energy crisis, so we have we don't have 162 00:08:15,640 --> 00:08:19,080 Speaker 1: enough energy. Of course, Russia supplies the world, I think 163 00:08:19,080 --> 00:08:21,640 Speaker 1: about eight or nine percent of the world's energy oil 164 00:08:21,680 --> 00:08:24,400 Speaker 1: and gas, and so that's a big problem. We have 165 00:08:24,480 --> 00:08:27,360 Speaker 1: massive energy problems in the United States. Massive not so 166 00:08:27,440 --> 00:08:29,440 Speaker 1: much in the United States, those are self inflicted, especially 167 00:08:29,480 --> 00:08:33,959 Speaker 1: in California. Massive energy problems in China. It's a big problem. UM. 168 00:08:34,040 --> 00:08:36,120 Speaker 1: And so we have that, and then, uh, you know 169 00:08:36,559 --> 00:08:39,400 Speaker 1: the wars, right, the wars always happened. When when that happens, 170 00:08:39,760 --> 00:08:41,080 Speaker 1: and I'm here to tell you that things are about 171 00:08:41,080 --> 00:08:43,160 Speaker 1: to get worse. Don't go away. I got a lot 172 00:08:43,160 --> 00:08:45,640 Speaker 1: more coming about how the financial system changed and what 173 00:08:45,679 --> 00:08:47,760 Speaker 1: you need to do. I'll be right back, all right, 174 00:08:47,800 --> 00:08:50,280 Speaker 1: welcome back. You're listening to the Markma Show. We're talking 175 00:08:50,320 --> 00:08:53,400 Speaker 1: about the way the world is changing right now. It's 176 00:08:53,400 --> 00:08:56,160 Speaker 1: an exciting time. It's a scary time. It's an exciting time. 177 00:08:56,200 --> 00:08:59,920 Speaker 1: We're talking about the decentralized revolution. We're talking about the 178 00:09:00,040 --> 00:09:03,480 Speaker 1: political and the financial system and the technology system all 179 00:09:03,559 --> 00:09:06,840 Speaker 1: being reset, all being rewritten right now. Of course, before 180 00:09:06,840 --> 00:09:09,120 Speaker 1: the break, we were talking about how the world's gone crazy, right, 181 00:09:09,400 --> 00:09:11,839 Speaker 1: prices are going crazy, Gas prices are crazy, Oil is 182 00:09:11,880 --> 00:09:15,040 Speaker 1: going crazy, energy crisis and food crisis. Everything is getting 183 00:09:15,520 --> 00:09:17,160 Speaker 1: worse and worse and worse. And then of course we 184 00:09:17,200 --> 00:09:21,920 Speaker 1: have war. War always comes after that. Um and uh, 185 00:09:22,000 --> 00:09:24,960 Speaker 1: I set that up before the break, last last on 186 00:09:25,000 --> 00:09:28,520 Speaker 1: the last section, and now I want to dive into, 187 00:09:29,040 --> 00:09:31,800 Speaker 1: um some history. I love history. If you watch my 188 00:09:31,840 --> 00:09:33,760 Speaker 1: YouTube channel, which if you don't, by the way, you 189 00:09:33,760 --> 00:09:36,360 Speaker 1: should just search Mark Moss on YouTube. You can find 190 00:09:36,360 --> 00:09:39,720 Speaker 1: that I try to always pull this historical lesson UM 191 00:09:39,760 --> 00:09:42,160 Speaker 1: into each each of these so you can get this 192 00:09:42,280 --> 00:09:44,800 Speaker 1: perspective that you can only get through history. The problem 193 00:09:44,880 --> 00:09:48,359 Speaker 1: is that most of us, uh, we as humans were 194 00:09:49,800 --> 00:09:52,920 Speaker 1: we were horrible investors um. And we suffer from a 195 00:09:52,960 --> 00:09:56,400 Speaker 1: lot of problems as humans. UM. One of them is 196 00:09:56,600 --> 00:09:59,360 Speaker 1: what's called normal c bias, and so we think whatever 197 00:09:59,400 --> 00:10:01,440 Speaker 1: is normal, just is this is whatever we're doing right 198 00:10:01,440 --> 00:10:03,679 Speaker 1: now is normal. That's why people today keep going when 199 00:10:03,679 --> 00:10:06,320 Speaker 1: are we going back to normal? Well, there is no 200 00:10:06,400 --> 00:10:09,120 Speaker 1: new normal. Uh, this is normal um. So anyway, there's 201 00:10:09,120 --> 00:10:11,920 Speaker 1: normalcy bias. Another one that we suffer from is recency bias. 202 00:10:11,920 --> 00:10:14,680 Speaker 1: And so whatever has happened recently, we think we'll just continue. 203 00:10:14,840 --> 00:10:16,559 Speaker 1: If we have high inflation, we think there's always high 204 00:10:16,559 --> 00:10:19,400 Speaker 1: inflation if we um, if we think the US as 205 00:10:19,760 --> 00:10:21,719 Speaker 1: the world superpower will always be the world too power. 206 00:10:21,760 --> 00:10:23,360 Speaker 1: But that's not necessarily the case, and so we have 207 00:10:23,480 --> 00:10:27,040 Speaker 1: to look past our own knowledge and look past backwards 208 00:10:27,040 --> 00:10:29,080 Speaker 1: into history. So let me give you a quick history 209 00:10:29,160 --> 00:10:32,560 Speaker 1: lesson here. First off, the US has not always been 210 00:10:32,559 --> 00:10:34,840 Speaker 1: the world superpower, and the US dollar has not always 211 00:10:34,840 --> 00:10:37,360 Speaker 1: been the reserve currency of the world. Before the dollar 212 00:10:37,440 --> 00:10:39,720 Speaker 1: was the reserve currency of the world, it was Britain 213 00:10:39,880 --> 00:10:44,680 Speaker 1: with the pounds sterling. The US took that position over 214 00:10:44,760 --> 00:10:49,320 Speaker 1: from Britain UM in around the thirties. All right, Now, 215 00:10:49,360 --> 00:10:52,400 Speaker 1: what happened is that gold had been money for five 216 00:10:52,440 --> 00:10:55,559 Speaker 1: thousand years. And but the problem with gold is it's 217 00:10:55,640 --> 00:10:58,560 Speaker 1: very hard to transact. Um. We're in a digital age 218 00:10:58,600 --> 00:11:00,880 Speaker 1: now right right now, I'm coming you live over the 219 00:11:00,880 --> 00:11:03,440 Speaker 1: internet or over your radio, And how do I send 220 00:11:03,480 --> 00:11:07,360 Speaker 1: you gold over the radio over the internet? You don't obviously, right, 221 00:11:07,679 --> 00:11:10,800 Speaker 1: And so as we started to do commerce globally, um, 222 00:11:10,840 --> 00:11:13,040 Speaker 1: it started be getting very difficult to transact with gold. 223 00:11:13,200 --> 00:11:15,040 Speaker 1: So gold would go in a bank and then somebody 224 00:11:15,040 --> 00:11:17,920 Speaker 1: would use a ledger and they would say, okay, now Mark, 225 00:11:17,960 --> 00:11:21,120 Speaker 1: oh's you X amount of gold. But the problem is 226 00:11:21,160 --> 00:11:23,040 Speaker 1: I have to trust that person with a ledger. How 227 00:11:23,040 --> 00:11:24,600 Speaker 1: do I know if they're keeping the ledger right? What 228 00:11:24,640 --> 00:11:26,280 Speaker 1: if something happens to them, what if they try to 229 00:11:26,480 --> 00:11:29,880 Speaker 1: do something maliciously, et cetera. What happened is, over over 230 00:11:29,920 --> 00:11:31,760 Speaker 1: a long period of time, all that gold ended up 231 00:11:31,800 --> 00:11:35,040 Speaker 1: in the banks, and the banks issued US claims on 232 00:11:35,080 --> 00:11:37,320 Speaker 1: the gold paper goalstificates. It was a claim on the 233 00:11:37,320 --> 00:11:39,199 Speaker 1: gold that meant that if you had that paper goalstificate, 234 00:11:39,200 --> 00:11:41,079 Speaker 1: you can go to the bank and you could exchange 235 00:11:41,080 --> 00:11:45,120 Speaker 1: it for gold. Well, what happened is the United States, 236 00:11:45,600 --> 00:11:48,760 Speaker 1: the banks they started printing so many of these paper 237 00:11:48,800 --> 00:11:52,480 Speaker 1: claims that there wasn't enough gold to back up the claims. 238 00:11:54,000 --> 00:11:56,440 Speaker 1: We couldn't trust them. Like this is the keyword. I'm 239 00:11:56,440 --> 00:11:59,040 Speaker 1: gonna come back to you several times. We trusted the 240 00:11:59,080 --> 00:12:03,320 Speaker 1: banks to hold our gold, and that we trusted these 241 00:12:03,360 --> 00:12:06,199 Speaker 1: paper gold certificates would be redeemable for the gold whenever 242 00:12:06,200 --> 00:12:08,480 Speaker 1: we want. Now you hear a lot of things about like, well, 243 00:12:08,480 --> 00:12:11,520 Speaker 1: what's the dollar backed by or what's bitcoin back by? 244 00:12:11,600 --> 00:12:16,560 Speaker 1: That term backed by only came from because we had 245 00:12:16,600 --> 00:12:20,120 Speaker 1: paper gold certificates that were backed by gold. They were 246 00:12:20,160 --> 00:12:26,120 Speaker 1: redeemable by gold when you had gold. What's gold back by? Exactly? Gold? 247 00:12:26,240 --> 00:12:28,559 Speaker 1: Gold is gold, right. When I have gold gold, gold 248 00:12:28,600 --> 00:12:30,920 Speaker 1: is backed by trust, meaning that somebody else would take 249 00:12:30,920 --> 00:12:32,839 Speaker 1: it from me at some point. But the paper was 250 00:12:32,880 --> 00:12:35,040 Speaker 1: backed by gold, I could go redeem it. What happened 251 00:12:35,080 --> 00:12:38,040 Speaker 1: is by three they had printed so many paper cl 252 00:12:38,040 --> 00:12:40,840 Speaker 1: certificates we did we trusted them and they let us 253 00:12:40,880 --> 00:12:43,319 Speaker 1: down that there was a big problem. There wasn't enough 254 00:12:43,360 --> 00:12:45,160 Speaker 1: gold to go around, and so what the government do. 255 00:12:45,360 --> 00:12:48,680 Speaker 1: They created a um. They went on a bank holiday. 256 00:12:48,679 --> 00:12:50,560 Speaker 1: That's that's what they called it, a bank holiday, meaning 257 00:12:50,559 --> 00:12:52,439 Speaker 1: the bankers went on holiday. They shut the banks down, 258 00:12:52,520 --> 00:12:54,800 Speaker 1: and you could not if you're an American at that time, 259 00:12:55,000 --> 00:12:57,160 Speaker 1: could not get your money out of the bank because 260 00:12:57,160 --> 00:12:59,840 Speaker 1: they were shut down when the bank's at that time, 261 00:13:00,000 --> 00:13:03,120 Speaker 1: gold was the paper goalstificates those claims were worth. It 262 00:13:03,200 --> 00:13:06,720 Speaker 1: took twenty of those paper goals ticates twenty dollars to 263 00:13:06,920 --> 00:13:09,839 Speaker 1: get one ounce of gold. Well, when they shut the 264 00:13:09,840 --> 00:13:12,160 Speaker 1: banks down, they shut them down approximately a week. When 265 00:13:12,160 --> 00:13:14,640 Speaker 1: they opened them back up, you weren't able to go 266 00:13:15,160 --> 00:13:18,880 Speaker 1: redeem those paper goalstificates for gold anymore. It was now illegal. 267 00:13:19,880 --> 00:13:22,760 Speaker 1: You was American, couldn't own your gold. And even worse, 268 00:13:22,800 --> 00:13:25,120 Speaker 1: instead of twenty dollars per ounce of gold, it was 269 00:13:25,120 --> 00:13:30,520 Speaker 1: now thirty five. So you lost of your wealth overnight, 270 00:13:30,920 --> 00:13:34,960 Speaker 1: just like that. Three is when the entire system changed. 271 00:13:35,000 --> 00:13:36,679 Speaker 1: That was a big deal. What it did is it 272 00:13:36,800 --> 00:13:40,840 Speaker 1: torpedoed trust. We trusted them to hold our gold. Now 273 00:13:40,920 --> 00:13:42,760 Speaker 1: they just stole it from us and not only they 274 00:13:42,760 --> 00:13:45,080 Speaker 1: steal it from us, they devalued our paper goal stificates. 275 00:13:46,600 --> 00:13:49,839 Speaker 1: Imagine losing net worth overnight. That's what happened. Okay, then 276 00:13:49,880 --> 00:13:54,400 Speaker 1: fast forward. I'm gonna go forward quickly. Or nine was 277 00:13:54,520 --> 00:13:56,720 Speaker 1: one of the biggest years. Was the pivotal year. The 278 00:13:56,920 --> 00:14:01,480 Speaker 1: entire world got together and created a global monetary standard, 279 00:14:01,480 --> 00:14:04,679 Speaker 1: a gold system where the dollars would be backed by 280 00:14:04,679 --> 00:14:06,719 Speaker 1: gold thirty five dollars equal one ounce of gold, and 281 00:14:06,760 --> 00:14:08,679 Speaker 1: then all the currencies of the world would be pegged 282 00:14:08,720 --> 00:14:12,280 Speaker 1: to the dollar. So basically everybody's on this gold standard, 283 00:14:12,679 --> 00:14:14,760 Speaker 1: and so that worked pretty good. Now at the time, 284 00:14:15,120 --> 00:14:17,360 Speaker 1: um that was called the Breton Woods Agreement, a gold standard. 285 00:14:17,360 --> 00:14:19,520 Speaker 1: There was another system that was proposed, and this is 286 00:14:19,560 --> 00:14:21,400 Speaker 1: an important piece because I'm gonna come back to this 287 00:14:21,480 --> 00:14:24,080 Speaker 1: in the future. This is actually where we're maybe going 288 00:14:24,120 --> 00:14:26,240 Speaker 1: into now. So there was another system proposed. It was 289 00:14:26,240 --> 00:14:29,240 Speaker 1: called a BANKORPS system. And the bankcor system was proposed 290 00:14:29,280 --> 00:14:32,880 Speaker 1: by somebody named John Maynard Keynes, and he said that 291 00:14:32,920 --> 00:14:35,440 Speaker 1: what we should do is all the nations should have 292 00:14:35,560 --> 00:14:39,240 Speaker 1: a neutral reserve asset and we should have a currency, 293 00:14:39,400 --> 00:14:42,800 Speaker 1: a money system that's backed by commodities. Commodities are real things. 294 00:14:42,800 --> 00:14:48,320 Speaker 1: Commodities are are gold, um, oil, wheat, things like that, minerals, medals, etcetera. 295 00:14:48,840 --> 00:14:51,000 Speaker 1: So those are real things. Now. The reason why that's 296 00:14:51,000 --> 00:14:55,800 Speaker 1: important to understand is that money gold was money for 297 00:14:55,800 --> 00:15:00,240 Speaker 1: five thousand years. Money, gold, dollars, bitcoin, whatever want to 298 00:15:00,280 --> 00:15:04,160 Speaker 1: call it. Money is a medium of exchange. That money 299 00:15:04,280 --> 00:15:07,920 Speaker 1: isn't worth anything other than how much goods and services 300 00:15:07,920 --> 00:15:09,840 Speaker 1: it will buy me. I've used the example many times. 301 00:15:10,120 --> 00:15:12,040 Speaker 1: If I was on a deserted island with a billion 302 00:15:12,040 --> 00:15:13,960 Speaker 1: dollars of cash, a billion dollars of gold, and a 303 00:15:14,000 --> 00:15:17,040 Speaker 1: billion dollars of worth a bitcoin, none of it would 304 00:15:17,040 --> 00:15:21,080 Speaker 1: be worth anything unless I had some goods and services 305 00:15:21,120 --> 00:15:23,040 Speaker 1: I could buy, unless I had food and water and 306 00:15:23,080 --> 00:15:25,320 Speaker 1: a boat and a phone to get off that stupid island. Right, 307 00:15:25,680 --> 00:15:27,800 Speaker 1: So it wouldn't be worth anything to me, And so 308 00:15:28,840 --> 00:15:31,080 Speaker 1: gold isn't worth anything. Bitcoin isn't worth anything. Dollars aren't 309 00:15:31,080 --> 00:15:33,600 Speaker 1: worth anything unless I can buy goods and services with them, 310 00:15:33,600 --> 00:15:41,360 Speaker 1: And so the goods and services are real things. Wheat, water, energy, Right, 311 00:15:41,400 --> 00:15:43,520 Speaker 1: those are the things that we need to survive. We 312 00:15:43,560 --> 00:15:46,520 Speaker 1: don't need gold to survive. So um, he suggested John 313 00:15:46,560 --> 00:15:48,880 Speaker 1: Maynor Keen suggested in this bank or system that we 314 00:15:48,960 --> 00:15:53,560 Speaker 1: had a neutral reserve asset that would be that would 315 00:15:53,600 --> 00:15:57,440 Speaker 1: that would use a commodity basket, So a basket of commodity. 316 00:15:57,440 --> 00:15:58,760 Speaker 1: So let's take a little bit of wheat, a little 317 00:15:58,800 --> 00:16:00,480 Speaker 1: bit of oil, a little bit of gold and put 318 00:16:00,480 --> 00:16:02,560 Speaker 1: it into a basket and then the nations will be 319 00:16:02,600 --> 00:16:04,320 Speaker 1: backed by that. And the reason why that makes sense 320 00:16:04,400 --> 00:16:08,840 Speaker 1: is that, Um, whether it's me Mark Moss as an individual, 321 00:16:09,280 --> 00:16:12,320 Speaker 1: or me Mark or or our city or country or 322 00:16:12,360 --> 00:16:18,200 Speaker 1: a nation, we must produce more then we consume. So 323 00:16:18,240 --> 00:16:20,680 Speaker 1: we have trade balances. So if I, if I make 324 00:16:20,720 --> 00:16:23,080 Speaker 1: the clothes and you make the food, I need to 325 00:16:23,120 --> 00:16:24,960 Speaker 1: sell you enough clothes to make up for the food 326 00:16:25,000 --> 00:16:27,360 Speaker 1: that you sell me. But if I if I can, 327 00:16:27,480 --> 00:16:29,080 Speaker 1: if I sell you all the clothes, but it's still 328 00:16:29,080 --> 00:16:31,960 Speaker 1: not enough to get the food, that's a problem. Alright, 329 00:16:32,000 --> 00:16:36,280 Speaker 1: So um, we should have this neutral reserve asset of commodities. 330 00:16:36,480 --> 00:16:38,040 Speaker 1: But anyway, the world didn't go that way. The world 331 00:16:38,080 --> 00:16:41,880 Speaker 1: went to this breton Wood system, which was this goldback system. Okay, 332 00:16:41,920 --> 00:16:44,680 Speaker 1: so the US had this massive privilege where the dollar 333 00:16:44,800 --> 00:16:47,560 Speaker 1: was the reserve asset. The problem is the United States 334 00:16:47,600 --> 00:16:51,960 Speaker 1: was trusted by the world to hold that system together, 335 00:16:52,360 --> 00:16:55,840 Speaker 1: and then the world um would then store their wealth, 336 00:16:56,440 --> 00:17:00,240 Speaker 1: their reserves, their savings would be held in dollars, and 337 00:17:00,280 --> 00:17:03,720 Speaker 1: they trusted the United States to hold that system together. 338 00:17:04,480 --> 00:17:07,359 Speaker 1: The problem is trust again and trust just like a 339 00:17:07,440 --> 00:17:11,560 Speaker 1: nineteen thirty three was broken and then it happened again 340 00:17:11,560 --> 00:17:13,440 Speaker 1: and again again. I'm gonna dig into that. I got 341 00:17:13,440 --> 00:17:14,840 Speaker 1: a lot more to go. You're listening to the Mark 342 00:17:14,920 --> 00:17:18,000 Speaker 1: Moa Show. We're talking about the decentralized Revolution. We're talking 343 00:17:18,000 --> 00:17:20,399 Speaker 1: about the way the world is changing right now and why. 344 00:17:20,520 --> 00:17:22,960 Speaker 1: And I'm going to be telling you the change that 345 00:17:23,040 --> 00:17:27,440 Speaker 1: just happened on February two that changed everything as we 346 00:17:27,520 --> 00:17:29,840 Speaker 1: know it. Do not go away. You don't want to 347 00:17:29,840 --> 00:17:31,800 Speaker 1: miss this. I'll be right back with more. All right, 348 00:17:31,840 --> 00:17:34,439 Speaker 1: welcome back. You're listening to the Mark ma Show, and 349 00:17:34,480 --> 00:17:37,240 Speaker 1: we're talking about the decentralized Revolution. Each and every week, 350 00:17:37,280 --> 00:17:41,399 Speaker 1: we're talking about the way that politics, technology, and finance 351 00:17:41,720 --> 00:17:45,480 Speaker 1: are all colliding to change everything as we know it. 352 00:17:45,880 --> 00:17:47,760 Speaker 1: And it's happening right now, right before our very eyes. 353 00:17:47,840 --> 00:17:49,520 Speaker 1: Before the break, I was talking about how the world 354 00:17:49,560 --> 00:17:51,639 Speaker 1: has gone crazy. Prices are going all over the place, 355 00:17:51,680 --> 00:17:53,760 Speaker 1: wars are breaking out. You already know that I was 356 00:17:53,800 --> 00:17:57,679 Speaker 1: talking about some dates, some very pivotal dates in history. 357 00:17:57,920 --> 00:18:01,600 Speaker 1: I talked about nineteen thirty three. We trusted the US 358 00:18:01,640 --> 00:18:04,439 Speaker 1: and the banks not to create more paper claims than 359 00:18:04,480 --> 00:18:07,640 Speaker 1: they had gold, but they let us down. Um. We 360 00:18:07,720 --> 00:18:10,320 Speaker 1: trusted them to hold our gold, and they let us down. 361 00:18:10,320 --> 00:18:12,240 Speaker 1: They seized it, and they made it illegal, so they stole. 362 00:18:12,320 --> 00:18:14,199 Speaker 1: Not only did they print more they lied to us 363 00:18:14,200 --> 00:18:16,320 Speaker 1: and printed more paper galtificates, but then they actually stole 364 00:18:16,320 --> 00:18:20,600 Speaker 1: the gold from us. That sucked. Four. The world was 365 00:18:20,640 --> 00:18:23,119 Speaker 1: at this pivotal place to to set up a new 366 00:18:23,280 --> 00:18:25,880 Speaker 1: global financial system. Would it be the bank course system 367 00:18:26,000 --> 00:18:28,240 Speaker 1: or would it be the Bretton Wood system. Well, the 368 00:18:28,280 --> 00:18:30,480 Speaker 1: breton Wood system one out will come back to the 369 00:18:30,480 --> 00:18:34,439 Speaker 1: bank corps later um. And again the world trusted the 370 00:18:34,520 --> 00:18:37,919 Speaker 1: United States to uphold this system and so they could save, 371 00:18:38,200 --> 00:18:40,720 Speaker 1: they could put their reserves, nations could put their savings 372 00:18:40,720 --> 00:18:43,040 Speaker 1: and reserves into U S dollars into U S treasuries. 373 00:18:43,240 --> 00:18:47,760 Speaker 1: Has not happened from until ninety one. And what happened 374 00:18:47,800 --> 00:18:50,280 Speaker 1: is um, the nations of the world were told, yeah, 375 00:18:50,400 --> 00:18:53,720 Speaker 1: save in dollars, that's fine, and any time you want, 376 00:18:53,880 --> 00:18:58,200 Speaker 1: we will convert those dollars back into gold for you um. 377 00:18:58,200 --> 00:19:00,600 Speaker 1: But the problem happened is that again anything that happened 378 00:19:00,720 --> 00:19:03,960 Speaker 1: up to ninety three, the government printed way too many dollars, 379 00:19:04,440 --> 00:19:06,879 Speaker 1: and the nations around the world realized what was happening, 380 00:19:06,920 --> 00:19:08,800 Speaker 1: and they didn't trust the U. S and they said, hey, 381 00:19:08,920 --> 00:19:11,080 Speaker 1: we know what you're doing here. This is ridiculous. We 382 00:19:11,119 --> 00:19:13,520 Speaker 1: don't want these fake paper gold certificates. We want the gold. 383 00:19:13,800 --> 00:19:16,359 Speaker 1: And so the nations kept trying to come and repatriot 384 00:19:16,400 --> 00:19:19,240 Speaker 1: or basically take back their gold from the U s UM. Finally, 385 00:19:19,280 --> 00:19:21,359 Speaker 1: in nineteen s one, France I believe it sent their 386 00:19:21,359 --> 00:19:23,800 Speaker 1: warships to the US to collect their gold, and President 387 00:19:23,880 --> 00:19:28,320 Speaker 1: Richard Nixon said, nope, we're not doing anymore. Basically defaulted 388 00:19:28,320 --> 00:19:29,680 Speaker 1: on the debt. We're not going to pay the debts 389 00:19:29,720 --> 00:19:31,680 Speaker 1: that we owe anymore on the in the United States 390 00:19:31,720 --> 00:19:36,040 Speaker 1: went bankrupt NTE, and it ended the gold system. And again, 391 00:19:36,160 --> 00:19:38,679 Speaker 1: the world trusted I'm gonna keep coming back to that 392 00:19:38,720 --> 00:19:41,399 Speaker 1: word trust, or the world trusted the United States to 393 00:19:41,760 --> 00:19:44,320 Speaker 1: hold their gold. The world trusted the United States to 394 00:19:44,440 --> 00:19:48,120 Speaker 1: keep the dollar um and the gold system and check, 395 00:19:48,240 --> 00:19:52,800 Speaker 1: the world trusted the US to exchange these paper clal 396 00:19:52,840 --> 00:19:56,199 Speaker 1: certificates for gold. But one the world found out they 397 00:19:56,240 --> 00:19:59,000 Speaker 1: couldn't trust the United States and any of that. They 398 00:19:59,080 --> 00:20:03,000 Speaker 1: printed too many dollars, they didn't give them their gold back, etcetera. 399 00:20:03,400 --> 00:20:05,560 Speaker 1: All right, so then the world went into what's known 400 00:20:05,600 --> 00:20:08,680 Speaker 1: as a petro dollar system. So then, since the dollar 401 00:20:08,760 --> 00:20:11,639 Speaker 1: wasn't backed by gold anymore, the United States made a 402 00:20:11,680 --> 00:20:14,080 Speaker 1: deal with Saudi Arabia and said, hey, Saudi Arabia, check 403 00:20:14,080 --> 00:20:18,160 Speaker 1: it out. UM, if you make everybody buy oil in dollars, 404 00:20:18,800 --> 00:20:22,440 Speaker 1: then we'll protect you with our giant military. Don't worry, 405 00:20:22,480 --> 00:20:24,560 Speaker 1: we got your back. As long as you make people 406 00:20:24,640 --> 00:20:28,119 Speaker 1: pay in dollars, we're going to cover you, um with 407 00:20:28,160 --> 00:20:32,359 Speaker 1: our military. And so we've been in this petro dollar system, 408 00:20:32,400 --> 00:20:35,360 Speaker 1: and that's where we've been since or really I think 409 00:20:35,359 --> 00:20:38,840 Speaker 1: I started in the seventy three or seventy four UM, 410 00:20:38,880 --> 00:20:40,239 Speaker 1: and that's kind of been the system that we've been 411 00:20:40,240 --> 00:20:43,919 Speaker 1: in ever since. Now, Remember the world are wealth is 412 00:20:43,920 --> 00:20:47,479 Speaker 1: is goods and services. Wealth is uh is food, it's energy, 413 00:20:47,720 --> 00:20:51,120 Speaker 1: things like that. Um, it's not money. It's not gold, 414 00:20:51,119 --> 00:20:53,720 Speaker 1: it's not big one. It's it's money. It's not money. 415 00:20:53,760 --> 00:20:56,280 Speaker 1: Money measures how much we can buy UM. And at 416 00:20:56,280 --> 00:20:59,359 Speaker 1: the at the base of everything. And this gets a 417 00:20:59,359 --> 00:21:02,280 Speaker 1: little philosopicals to stick with me for a minute. All 418 00:21:02,359 --> 00:21:04,840 Speaker 1: of wealth is goods and services because we need food, 419 00:21:04,920 --> 00:21:07,159 Speaker 1: we need shelter, we need heat, we need water, we 420 00:21:07,200 --> 00:21:10,359 Speaker 1: need those things to survive. But it's at its base 421 00:21:10,920 --> 00:21:17,680 Speaker 1: everything is energy. So your body, it needs it, burns energy. Right, 422 00:21:17,720 --> 00:21:20,040 Speaker 1: So if you go exercise, if you work, your brain 423 00:21:20,160 --> 00:21:22,800 Speaker 1: is using energy to listen to me right now. But 424 00:21:22,880 --> 00:21:26,679 Speaker 1: how does your body get those that energy to burn? Well? 425 00:21:26,760 --> 00:21:31,919 Speaker 1: Calories right, calories are energy in your body. So everything. 426 00:21:32,000 --> 00:21:36,960 Speaker 1: So the law of thermodynamics is that energy cannot be created. 427 00:21:38,560 --> 00:21:41,240 Speaker 1: Energy can only be unleashed. It can be und can 428 00:21:41,280 --> 00:21:43,359 Speaker 1: be harnessed, it can be transferred. All we can do 429 00:21:43,440 --> 00:21:46,159 Speaker 1: is move energy from one source to the next. We 430 00:21:46,200 --> 00:21:48,480 Speaker 1: can't create energy, So we have energy. We have these 431 00:21:48,480 --> 00:21:52,120 Speaker 1: electricity plants. They're creating electricity, but they're taking another form 432 00:21:52,160 --> 00:21:54,680 Speaker 1: of energy and turning it into electricity as another form 433 00:21:54,680 --> 00:21:58,480 Speaker 1: of energy. We can't create energy. So energy is the 434 00:21:58,800 --> 00:22:02,720 Speaker 1: is the base of wealth for life. Without energy, there's 435 00:22:02,800 --> 00:22:05,600 Speaker 1: nothing without energy. There's no food without food, there's no 436 00:22:05,680 --> 00:22:07,840 Speaker 1: energy from my body. Without energy from my body, I 437 00:22:07,960 --> 00:22:13,400 Speaker 1: die very simple, right, And so the oil has been 438 00:22:13,680 --> 00:22:17,960 Speaker 1: been basically backing the dollar ever since. But February two 439 00:22:19,800 --> 00:22:25,000 Speaker 1: something changed, something changed. The world as we know it 440 00:22:25,040 --> 00:22:27,159 Speaker 1: has changed, like those other dates I've given you, And 441 00:22:27,200 --> 00:22:30,800 Speaker 1: that was the time when the war between Russia and 442 00:22:30,920 --> 00:22:33,240 Speaker 1: Ukraine broke out. The United States decided to jump in 443 00:22:33,400 --> 00:22:36,480 Speaker 1: and used the dollar, which has been the reserve asseid 444 00:22:36,520 --> 00:22:38,600 Speaker 1: of the world for the last century, used the dollar 445 00:22:38,680 --> 00:22:41,840 Speaker 1: as a weapon, and they sanctioned Russia. Of course I've 446 00:22:41,880 --> 00:22:44,320 Speaker 1: been talking about this for the last couple of weeks, um, 447 00:22:44,400 --> 00:22:47,080 Speaker 1: and they sanctioned Russia. But what they did specifically on 448 00:22:47,119 --> 00:22:51,399 Speaker 1: that day is they said, your reserves, the money that 449 00:22:51,440 --> 00:22:55,200 Speaker 1: you're saving in the bank, it's no good anymore. It's 450 00:22:55,240 --> 00:22:59,879 Speaker 1: not yours. And so that killed this petro dollar system. 451 00:23:00,000 --> 00:23:02,800 Speaker 1: Are nations around the world wanted to save in these 452 00:23:02,840 --> 00:23:05,880 Speaker 1: dollars if you have, if you if the United States 453 00:23:06,000 --> 00:23:07,919 Speaker 1: or whoever can just say up that money is no 454 00:23:07,920 --> 00:23:09,800 Speaker 1: good anymore than why would any nation want to save 455 00:23:09,840 --> 00:23:12,800 Speaker 1: in that? And they wouldn't. Right now, what's interesting is 456 00:23:12,840 --> 00:23:16,120 Speaker 1: if we go back through time, if we look back really, um, 457 00:23:16,200 --> 00:23:19,040 Speaker 1: look at at the price of oil. So I talked 458 00:23:19,040 --> 00:23:20,960 Speaker 1: about earlier, how gas prices are going through the roof, 459 00:23:21,960 --> 00:23:24,520 Speaker 1: and gas prices going throughof goes oil going through the roof. Well, 460 00:23:24,520 --> 00:23:26,359 Speaker 1: why is oil going to the roof? Well, oil had 461 00:23:26,359 --> 00:23:29,040 Speaker 1: been kept in a pretty tight range for a really 462 00:23:29,040 --> 00:23:30,320 Speaker 1: long time. As a matter of fact, it kind of 463 00:23:30,320 --> 00:23:34,680 Speaker 1: stayed in like a fifty dollar range um since we 464 00:23:34,760 --> 00:23:36,600 Speaker 1: got on, since we got onto the petit dolor system 465 00:23:36,600 --> 00:23:38,640 Speaker 1: in the seventies, up until about two thousand and five, 466 00:23:39,400 --> 00:23:42,080 Speaker 1: and the and the US was managing that just like 467 00:23:42,119 --> 00:23:44,879 Speaker 1: they had managed the dollar to gold ratio before. Now 468 00:23:44,920 --> 00:23:47,480 Speaker 1: they were managing the dollar to oil ratio, and it 469 00:23:47,520 --> 00:23:50,359 Speaker 1: was kind of in range. But around two tho five, 470 00:23:51,320 --> 00:23:56,159 Speaker 1: the United States decided to abandon that and to try 471 00:23:56,240 --> 00:24:02,560 Speaker 1: to save its own economy and started printing massive amounts 472 00:24:02,600 --> 00:24:04,880 Speaker 1: of dollars, massive amounts of stimulus, just like they did 473 00:24:05,200 --> 00:24:08,120 Speaker 1: over and over before. And what that did is that 474 00:24:08,240 --> 00:24:10,960 Speaker 1: pushed oil much higher, shooting up to well over a 475 00:24:11,040 --> 00:24:13,040 Speaker 1: hundred dollar the barrel. And now instead of staying in 476 00:24:13,040 --> 00:24:19,920 Speaker 1: that range, now it's more in the range. And since 477 00:24:19,960 --> 00:24:23,240 Speaker 1: that's happened, and now we can't trust these U S 478 00:24:23,280 --> 00:24:26,679 Speaker 1: dollars anymore. Remember back to that word trust. All these 479 00:24:26,760 --> 00:24:28,880 Speaker 1: nations around the world that we're trusting the United States 480 00:24:28,960 --> 00:24:30,960 Speaker 1: to hold their money for them just found out that 481 00:24:31,000 --> 00:24:34,200 Speaker 1: they can't trust. Now, all of a sudden, the world 482 00:24:34,240 --> 00:24:36,760 Speaker 1: is shifted onto a new system, and that system is 483 00:24:36,840 --> 00:24:40,200 Speaker 1: now back to this bank course system that was originally 484 00:24:40,560 --> 00:24:45,400 Speaker 1: introduced or or suggested by John Maynor Ken's back, which 485 00:24:45,440 --> 00:24:48,040 Speaker 1: is we should go back to a commodity money. Now 486 00:24:48,160 --> 00:24:50,040 Speaker 1: this has actually been happening for quite a while. We 487 00:24:50,080 --> 00:24:54,119 Speaker 1: can see that UM over the last couple of years. 488 00:24:54,600 --> 00:24:57,800 Speaker 1: So UM, the nations around the world, if you're Russia 489 00:24:57,920 --> 00:25:02,000 Speaker 1: or Germany, or France or whatever, even China, where do 490 00:25:02,040 --> 00:25:05,360 Speaker 1: you store your savings? Where do you store your reserves? 491 00:25:05,480 --> 00:25:08,639 Speaker 1: Now I store my savings in the bank. You probably 492 00:25:08,640 --> 00:25:11,600 Speaker 1: do as well. Bank of America JP Morgan, Wells Fargo, whatever. 493 00:25:12,320 --> 00:25:14,720 Speaker 1: They don't store their wealth in the bank. When you 494 00:25:14,840 --> 00:25:17,080 Speaker 1: have billions or hundreds of billions of dollars, you don't 495 00:25:17,119 --> 00:25:20,439 Speaker 1: just store it in JP Morgan. You buy US dollar 496 00:25:20,640 --> 00:25:24,159 Speaker 1: treasuries U S T S treasuries, which are basically they 497 00:25:24,160 --> 00:25:26,160 Speaker 1: consider a risk free acid as good as as good 498 00:25:26,160 --> 00:25:29,320 Speaker 1: as gold, as good as money. Um. And that's where 499 00:25:29,359 --> 00:25:31,760 Speaker 1: you store those. But now they don't want to do 500 00:25:31,800 --> 00:25:33,800 Speaker 1: that because Russia just found out that they lost them all. 501 00:25:35,440 --> 00:25:37,400 Speaker 1: So the whole world is scrambling and try to figure 502 00:25:37,400 --> 00:25:39,840 Speaker 1: out what the new system is. And so, um, some 503 00:25:39,920 --> 00:25:43,160 Speaker 1: big things are happening right now. The world is scrambling 504 00:25:43,200 --> 00:25:45,000 Speaker 1: for oil. But what we've seen over the last couple 505 00:25:45,040 --> 00:25:48,040 Speaker 1: of years is that, um, instead of these nations buying 506 00:25:48,160 --> 00:25:53,919 Speaker 1: more US treasuries, they've actually been net sellers of treasuries 507 00:25:54,080 --> 00:25:57,160 Speaker 1: and net buyers of gold. So over the last couple 508 00:25:57,200 --> 00:26:01,800 Speaker 1: of years, all these nations have been adding gold instead 509 00:26:01,840 --> 00:26:04,000 Speaker 1: of US treasury. So they've been preparing for this for 510 00:26:04,040 --> 00:26:07,520 Speaker 1: a while. So this came to a head on February two, 511 00:26:07,800 --> 00:26:09,879 Speaker 1: but this has actually been in the works for a 512 00:26:09,960 --> 00:26:13,240 Speaker 1: number of years. Now. On top of that, some other 513 00:26:13,280 --> 00:26:17,399 Speaker 1: things have happened. That's pretty interesting. So um, not only 514 00:26:17,480 --> 00:26:21,600 Speaker 1: did did that happen, but then we have U. S. 515 00:26:21,600 --> 00:26:25,720 Speaker 1: Senators calling to seize gold from Russia and we actually 516 00:26:25,760 --> 00:26:30,040 Speaker 1: have some historical precedents for that. Um, And if they 517 00:26:30,080 --> 00:26:34,000 Speaker 1: can't trust gold, what could they trust. Well, there's a 518 00:26:34,000 --> 00:26:37,160 Speaker 1: lot more to this story, but obviously Bitcoin is one 519 00:26:37,160 --> 00:26:41,080 Speaker 1: of the big beneficiaries of that. Bitcoin has been thrust 520 00:26:41,280 --> 00:26:44,639 Speaker 1: onto the world stage right now because the world is 521 00:26:44,680 --> 00:26:47,560 Speaker 1: starting to realize they can't trust dollars. They can't trust governments, 522 00:26:48,359 --> 00:26:50,640 Speaker 1: and maybe they can't even trust gold. And that's why 523 00:26:50,640 --> 00:26:53,919 Speaker 1: bitcoin is getting all this world's attention. Right now, you 524 00:26:53,960 --> 00:26:55,800 Speaker 1: listen to the Mark Show, I'm gonna be right back. 525 00:26:55,840 --> 00:26:58,480 Speaker 1: Don't go away. Are you listening to the Mark Moa Show? 526 00:26:58,760 --> 00:27:02,520 Speaker 1: And I'm back. We're talking about the changes of the 527 00:27:02,560 --> 00:27:05,720 Speaker 1: financial system happening right before our very eyes. And something 528 00:27:05,760 --> 00:27:09,960 Speaker 1: big just happened um that many people maybe weren't paying 529 00:27:09,960 --> 00:27:11,920 Speaker 1: attention to. Of course, that date I'm talking about his 530 00:27:12,000 --> 00:27:17,240 Speaker 1: February two. It's the day when the United States just 531 00:27:17,600 --> 00:27:20,679 Speaker 1: told the whole world that they cannot be trusted. The 532 00:27:20,720 --> 00:27:26,480 Speaker 1: US can't be trusted to hold um reserves, hold savings 533 00:27:26,480 --> 00:27:28,400 Speaker 1: of other nations. It's the year, it's it's the date 534 00:27:28,440 --> 00:27:31,280 Speaker 1: when they told Russia that all your savings and US 535 00:27:31,359 --> 00:27:35,240 Speaker 1: treasuries is just worthless. You can't trade anymore. And so 536 00:27:35,720 --> 00:27:37,960 Speaker 1: the world scrambling for something else. Now, like I was 537 00:27:37,960 --> 00:27:40,480 Speaker 1: saying before the break, that the world has been the 538 00:27:40,560 --> 00:27:43,000 Speaker 1: nations around the world have been a net buyers of 539 00:27:43,080 --> 00:27:44,680 Speaker 1: gold over the last couple of years, so they've already 540 00:27:44,680 --> 00:27:46,960 Speaker 1: been The world has already been seeing this coming, and 541 00:27:47,000 --> 00:27:49,680 Speaker 1: they've already been transitioning away from dollars and into gold, 542 00:27:49,960 --> 00:27:52,600 Speaker 1: so they've been buying less treasuries and they've been buying 543 00:27:52,640 --> 00:27:56,840 Speaker 1: more gold. Um. But the problem is is that even 544 00:27:56,880 --> 00:27:59,800 Speaker 1: gold may not be safe. So we have just recently 545 00:28:00,000 --> 00:28:02,639 Speaker 1: out because of the sanctions on Russia, we have U 546 00:28:02,680 --> 00:28:06,960 Speaker 1: S senators are now calling to seize gold from Russia. 547 00:28:07,119 --> 00:28:10,800 Speaker 1: They're saying to put sanctions on their gold. No, I 548 00:28:10,800 --> 00:28:13,360 Speaker 1: don't know how they plan on seizing Russia's gold. They're 549 00:28:13,359 --> 00:28:16,440 Speaker 1: gonna go into Russia with the warships and somehow collected 550 00:28:16,440 --> 00:28:18,800 Speaker 1: and Russia's is gonna give it to him. I don't 551 00:28:18,800 --> 00:28:21,399 Speaker 1: know how that how they plan on doing that. Um. 552 00:28:21,480 --> 00:28:23,520 Speaker 1: But um, they're saying that they could sanction in if 553 00:28:23,560 --> 00:28:25,800 Speaker 1: they find any other countries that are buying their gold. 554 00:28:25,840 --> 00:28:29,119 Speaker 1: Things like that, and there's some historical precedents. This is 555 00:28:29,160 --> 00:28:33,400 Speaker 1: a matter of fact. The UK just seized has recently 556 00:28:33,440 --> 00:28:39,480 Speaker 1: seized Venezuela's gold. They seized thirty one tons, which is 557 00:28:39,600 --> 00:28:45,280 Speaker 1: worth about approximately two billion dollars today. Um. So they 558 00:28:45,360 --> 00:28:49,640 Speaker 1: seized Venezuela's gold and so how do they how do 559 00:28:49,720 --> 00:28:52,000 Speaker 1: they seize it? Well, of course Venezuela didn't have it 560 00:28:52,000 --> 00:28:55,120 Speaker 1: in Venezuela. They had it in the UK, just like 561 00:28:55,160 --> 00:28:57,800 Speaker 1: when the United States seized Americans gold, it was in 562 00:28:57,800 --> 00:29:00,000 Speaker 1: the banks and they just took it. And so Venezuela 563 00:29:00,040 --> 00:29:03,160 Speaker 1: it had their gold in the UK and the UK 564 00:29:03,280 --> 00:29:05,680 Speaker 1: has decided to take it. So I'm gonna go back 565 00:29:05,680 --> 00:29:09,640 Speaker 1: to this word again. Trust. Venezuela trusted the system, trusted 566 00:29:09,680 --> 00:29:12,200 Speaker 1: that their gold would be safe in the UK, and 567 00:29:12,240 --> 00:29:16,120 Speaker 1: they found out that it's not so. In a world 568 00:29:16,160 --> 00:29:19,080 Speaker 1: that we have lost trust over and over, we found 569 00:29:19,120 --> 00:29:21,600 Speaker 1: that we cannot trust the United States government. We cannot 570 00:29:21,600 --> 00:29:25,760 Speaker 1: trust the United States banking system. Um We the nations 571 00:29:25,760 --> 00:29:27,560 Speaker 1: of the world just found out on February twenty six 572 00:29:27,640 --> 00:29:32,120 Speaker 1: if they cannot trust um US treasuries to hold their savings. 573 00:29:32,120 --> 00:29:35,520 Speaker 1: In Venezuela found out the hard way that they can't 574 00:29:35,640 --> 00:29:38,000 Speaker 1: trust the UK to hold their gold for them. U 575 00:29:38,040 --> 00:29:40,240 Speaker 1: s senators are calling to seize Russia's gold. They can't. 576 00:29:40,600 --> 00:29:43,200 Speaker 1: Russia can't trust anybody with their gold. So in a 577 00:29:43,240 --> 00:29:47,920 Speaker 1: world when there's no trust, what do you do? Well, 578 00:29:47,920 --> 00:29:50,080 Speaker 1: as I said, all these nations are have been net 579 00:29:50,080 --> 00:29:52,520 Speaker 1: buyers of gold and net sellers of treasuries. So each 580 00:29:52,600 --> 00:29:56,560 Speaker 1: nation is holding more and more gold, um, but they're 581 00:29:56,560 --> 00:29:58,560 Speaker 1: gonna have to hold it on their own. So Russia's 582 00:29:58,560 --> 00:30:00,040 Speaker 1: gonna have to stir their own goal. And then this 583 00:30:00,080 --> 00:30:01,840 Speaker 1: way those going to store their own gold, and China 584 00:30:01,880 --> 00:30:03,800 Speaker 1: has to store their own gold, and uss to store 585 00:30:03,800 --> 00:30:06,120 Speaker 1: there's et cetera. Because they can't trust each other with it, right, 586 00:30:06,160 --> 00:30:08,040 Speaker 1: I mean, you can't trust you can't trust anybod anymore. 587 00:30:08,440 --> 00:30:09,800 Speaker 1: So they have to cold their own But how how 588 00:30:09,800 --> 00:30:12,480 Speaker 1: does that work? So now we have to trust that 589 00:30:12,600 --> 00:30:15,760 Speaker 1: China has the gold they say they have. Russia, we 590 00:30:15,760 --> 00:30:18,960 Speaker 1: have to trust Russia has the gold they say they have. Now, 591 00:30:19,240 --> 00:30:22,920 Speaker 1: even if they put like a camera on the gold stack, 592 00:30:22,960 --> 00:30:26,120 Speaker 1: on palates of gold, like live stream on YouTube, how 593 00:30:26,160 --> 00:30:27,800 Speaker 1: do we still trust that? What if we know? How 594 00:30:27,840 --> 00:30:29,840 Speaker 1: do we know it's not just like tungsten bars that 595 00:30:29,880 --> 00:30:32,600 Speaker 1: have been painted painted gold. We heard about that happening 596 00:30:32,640 --> 00:30:35,560 Speaker 1: in China. They had a bunch of fake gold bars 597 00:30:35,600 --> 00:30:37,800 Speaker 1: that weren't really gold they said they were. So we 598 00:30:37,840 --> 00:30:40,719 Speaker 1: can't trust China. We can't who can we trust? And 599 00:30:40,800 --> 00:30:43,000 Speaker 1: even if we could trust them, how would that really work? 600 00:30:43,040 --> 00:30:46,160 Speaker 1: I mean it's so big and slow and clunky. I mean, 601 00:30:46,240 --> 00:30:50,120 Speaker 1: we're gonna we're like one of those um like one 602 00:30:50,120 --> 00:30:52,000 Speaker 1: of those movies where like there's a drug deal going down. 603 00:30:52,000 --> 00:30:53,400 Speaker 1: It's like give me the drugs. No, give me the cash. 604 00:30:53,400 --> 00:30:54,800 Speaker 1: Now give me the drugs, give me the cash, right, 605 00:30:54,800 --> 00:30:56,920 Speaker 1: And like how do you trust each other? And so 606 00:30:57,160 --> 00:30:59,160 Speaker 1: how what? What is is a nation going to have 607 00:30:59,240 --> 00:31:02,320 Speaker 1: to now load up their warship with gold and then 608 00:31:02,320 --> 00:31:05,600 Speaker 1: transported to another country and hand deliver it. How in 609 00:31:05,600 --> 00:31:10,800 Speaker 1: a world with no trust? How does it work? And 610 00:31:10,840 --> 00:31:12,280 Speaker 1: even if we had the trust, like I said, it's 611 00:31:12,320 --> 00:31:15,080 Speaker 1: so slow, it's so heavy, it's so clunky. Not only 612 00:31:15,120 --> 00:31:19,840 Speaker 1: does it take forever, um, it's it's very expensive. Imagine 613 00:31:19,920 --> 00:31:22,600 Speaker 1: sending you know, tons and tons of gold from one 614 00:31:22,680 --> 00:31:24,760 Speaker 1: nation to another overseas. Like how much would that cost? 615 00:31:24,800 --> 00:31:26,920 Speaker 1: It would cost millions, tens of millions of dollars to 616 00:31:26,920 --> 00:31:30,120 Speaker 1: do that, It would take it would take months to 617 00:31:30,200 --> 00:31:33,200 Speaker 1: even organize and and and do months and months and 618 00:31:33,240 --> 00:31:37,160 Speaker 1: months and millions tens of millions to do that. That's 619 00:31:37,200 --> 00:31:40,640 Speaker 1: that's not really gonna work. The friction, the friction is 620 00:31:40,680 --> 00:31:46,800 Speaker 1: too high. So what other system do we have if 621 00:31:46,800 --> 00:31:49,160 Speaker 1: we can if we can't trust each other, which we can't. 622 00:31:49,280 --> 00:31:52,200 Speaker 1: The United States has proven it over and over n 623 00:31:52,360 --> 00:31:55,800 Speaker 1: seventy one twenty two. We've been, We've been. They seized 624 00:31:56,360 --> 00:32:01,440 Speaker 1: UK sees Venezuela's gold, the US seesed Afghanistan central banks money. 625 00:32:01,480 --> 00:32:04,920 Speaker 1: I mean, we can't trust them as as a US citizen, 626 00:32:04,960 --> 00:32:07,720 Speaker 1: I can't trust them as a nation, you can't trust them. 627 00:32:07,760 --> 00:32:11,560 Speaker 1: So in a world without trust, like, how, how does 628 00:32:11,600 --> 00:32:15,840 Speaker 1: it work? How can it work? What other options do 629 00:32:15,880 --> 00:32:17,760 Speaker 1: we have? I mean, gold is the best option. We 630 00:32:17,760 --> 00:32:19,960 Speaker 1: can go back to the gold standard, but we can 631 00:32:19,960 --> 00:32:23,640 Speaker 1: see why it failed for so many reasons. And of course, 632 00:32:23,680 --> 00:32:26,360 Speaker 1: like I said, in today's internet age, how does it work? 633 00:32:26,400 --> 00:32:29,320 Speaker 1: How do I pay somebody in Venezuela or Argentina or 634 00:32:29,320 --> 00:32:33,280 Speaker 1: else Salvador, Nicaragua or Africa over the internet. I have 635 00:32:33,320 --> 00:32:35,080 Speaker 1: people that work for me all over the all over 636 00:32:35,120 --> 00:32:38,680 Speaker 1: the world right now. How do I pay them in gold? 637 00:32:39,560 --> 00:32:41,920 Speaker 1: I can't. It's not I'm gonna I'm gonna be able 638 00:32:41,960 --> 00:32:44,720 Speaker 1: to send somebody, you know, a thousand dollars worth of 639 00:32:44,760 --> 00:32:47,600 Speaker 1: gold like that. This is never gonna happen. So what 640 00:32:47,640 --> 00:32:50,080 Speaker 1: other options do we have? We don't have any. The 641 00:32:50,080 --> 00:32:53,200 Speaker 1: world stuck? How do we move forward? Oh wait, there 642 00:32:53,280 --> 00:32:57,720 Speaker 1: is an idea. How about bitcoin? You see, bitcoin is 643 00:32:57,760 --> 00:33:01,080 Speaker 1: what we call trust lists. A bitcoin is a network 644 00:33:01,440 --> 00:33:05,560 Speaker 1: that I can send my asset peer to peer. It's 645 00:33:05,640 --> 00:33:08,959 Speaker 1: I hold it, it's in my custody, and when I 646 00:33:09,000 --> 00:33:11,960 Speaker 1: send it to you, I it goes directly from me 647 00:33:12,080 --> 00:33:13,880 Speaker 1: to you. Now, the problem with the banking system we 648 00:33:13,920 --> 00:33:15,680 Speaker 1: have as it goes through all these different banks, all 649 00:33:15,720 --> 00:33:18,160 Speaker 1: these intermediaries. If I want to send you money on Venmo, 650 00:33:18,320 --> 00:33:20,400 Speaker 1: it goes from my Venmo to my credit card, from 651 00:33:20,400 --> 00:33:22,320 Speaker 1: my credit card to my bank, from my bank to 652 00:33:22,400 --> 00:33:24,080 Speaker 1: your bank, to your bank, to your credit card, to 653 00:33:24,160 --> 00:33:26,520 Speaker 1: your credit card to Venmo. So from my Venomo to 654 00:33:26,520 --> 00:33:28,800 Speaker 1: your Venmo account goes through like six different people. Any 655 00:33:28,800 --> 00:33:30,400 Speaker 1: one of those six people could see that. Just like 656 00:33:30,440 --> 00:33:33,000 Speaker 1: the banking system today, they're sanction in Russia because they 657 00:33:33,000 --> 00:33:35,240 Speaker 1: control the Swift system. They can control the money moving 658 00:33:35,280 --> 00:33:39,720 Speaker 1: through all those gateways. But you see, bitcoin uses the 659 00:33:39,800 --> 00:33:42,360 Speaker 1: different technology is peer to peer, meaning when I send 660 00:33:42,400 --> 00:33:44,959 Speaker 1: you bitcoin, it goes from me to you. There's nobody 661 00:33:45,000 --> 00:33:47,440 Speaker 1: in the middle that blocks or prevents that from happening, 662 00:33:48,880 --> 00:33:51,719 Speaker 1: and so there's trust. There's trust because right now it's 663 00:33:51,800 --> 00:33:53,600 Speaker 1: or I actually say, it's a trust list. I have 664 00:33:53,720 --> 00:33:56,680 Speaker 1: to trust the government, I have to trust the bank 665 00:33:56,760 --> 00:33:58,760 Speaker 1: to hold my gold and not steal it from me, 666 00:33:58,800 --> 00:34:00,640 Speaker 1: which they've done before. At the trust that they're gonna 667 00:34:00,640 --> 00:34:02,120 Speaker 1: give me a paper caltificate and not create more of 668 00:34:02,120 --> 00:34:04,560 Speaker 1: it what they've done that before. But when I when 669 00:34:04,600 --> 00:34:08,160 Speaker 1: I hold my money in bitcoin, it's trust list. Nobody 670 00:34:08,160 --> 00:34:13,200 Speaker 1: can create more bitcoin, nobody can seize My bitcoin is 671 00:34:13,239 --> 00:34:15,480 Speaker 1: trust lists. And if I want to send it to you, 672 00:34:15,480 --> 00:34:17,839 Speaker 1: nobody can stop it black and prevented. It's trust less. 673 00:34:17,880 --> 00:34:20,520 Speaker 1: And when I send it to you in exchange for 674 00:34:20,560 --> 00:34:23,520 Speaker 1: the goods, then once you have it, it's in your posession. 675 00:34:23,520 --> 00:34:25,360 Speaker 1: So similar to if I hold if I handed you gold, 676 00:34:25,880 --> 00:34:29,080 Speaker 1: that's kind of and and like cash right like with cash, Um, 677 00:34:29,200 --> 00:34:31,319 Speaker 1: if you're gonna do business with a store, you need 678 00:34:31,360 --> 00:34:33,920 Speaker 1: to trust that store. Is that store going to deliver 679 00:34:34,040 --> 00:34:36,240 Speaker 1: the goods and products that you buy? You need trust. 680 00:34:36,280 --> 00:34:38,680 Speaker 1: I have to trust that store. But um, the store 681 00:34:38,719 --> 00:34:41,680 Speaker 1: doesn't have to trust me. They don't know me. They 682 00:34:41,680 --> 00:34:43,600 Speaker 1: don't have to trust me because I give them cash, 683 00:34:44,480 --> 00:34:46,800 Speaker 1: So I trust them to give me a good product 684 00:34:46,880 --> 00:34:49,160 Speaker 1: or service. But then they don't trust me because I 685 00:34:49,200 --> 00:34:51,399 Speaker 1: give them cash. When I hand it over, it's done. 686 00:34:51,440 --> 00:34:53,200 Speaker 1: And that's kind of what bitcoin does. It's like cash, 687 00:34:53,480 --> 00:34:56,960 Speaker 1: it's in hand, but unlike cash that can be inflated 688 00:34:57,000 --> 00:34:59,320 Speaker 1: away or in the bank, can be frozen or seized 689 00:34:59,680 --> 00:35:02,759 Speaker 1: because I can't. So it's pretty interesting when you see 690 00:35:02,760 --> 00:35:04,560 Speaker 1: the world breaking down the way it is right now 691 00:35:04,680 --> 00:35:07,000 Speaker 1: and what's happened, especially with trust breaking down an all 692 00:35:07,040 --> 00:35:09,759 Speaker 1: time low, and we're stuck in this system where you 693 00:35:09,760 --> 00:35:12,560 Speaker 1: can't trust cash, you can't trust treasuries. Um. The only 694 00:35:12,560 --> 00:35:14,560 Speaker 1: thing you can trust is gold, but only if you 695 00:35:14,600 --> 00:35:15,960 Speaker 1: hold it in your own hand. But how do I 696 00:35:16,040 --> 00:35:18,560 Speaker 1: trust that Russia or China or the US has the 697 00:35:18,600 --> 00:35:20,400 Speaker 1: gold they say they have? The United States says they 698 00:35:20,440 --> 00:35:23,040 Speaker 1: have about eight thousand tons of gold, but they've never 699 00:35:23,680 --> 00:35:27,239 Speaker 1: allowed anyone to audit it, So why wouldn't they allow 700 00:35:27,280 --> 00:35:30,040 Speaker 1: someone to audit if they really have. It doesn't doesn't 701 00:35:30,040 --> 00:35:33,080 Speaker 1: inspire a lot of trust, does it. So we can 702 00:35:33,120 --> 00:35:35,280 Speaker 1: go back to a gold system. That's the best option 703 00:35:35,360 --> 00:35:38,520 Speaker 1: we have, But really, how does it work? It doesn't 704 00:35:38,520 --> 00:35:40,240 Speaker 1: work in an age with no trust, and it doesn't 705 00:35:40,239 --> 00:35:44,400 Speaker 1: work in an Internet age. So then what I'd like 706 00:35:44,440 --> 00:35:46,520 Speaker 1: to say, If not bitcoin, then what I'd love to hear. 707 00:35:46,719 --> 00:35:48,880 Speaker 1: Send me a message on Twitter at one Mark Moss 708 00:35:48,920 --> 00:35:50,719 Speaker 1: and let me know, if not bitcoin, then what. I'm 709 00:35:50,719 --> 00:35:52,160 Speaker 1: sure there's plenty of people listening to this. I think 710 00:35:52,160 --> 00:35:54,759 Speaker 1: bitcoin stupid, it's dumb. You know, you got the Warren 711 00:35:54,760 --> 00:35:57,439 Speaker 1: Buffet of the world calling it rat poison. Great, tell 712 00:35:57,480 --> 00:36:02,080 Speaker 1: me what if bitcoin? If not bitcoin, then what? On Twitter? 713 00:36:02,120 --> 00:36:04,439 Speaker 1: At one Mark Moss, you're listening to the markmas Show. 714 00:36:04,440 --> 00:36:07,400 Speaker 1: We're talking about the decentralized revolution. The world is going 715 00:36:07,400 --> 00:36:10,680 Speaker 1: through the intersection of politics, finance, and technology. Is changing 716 00:36:10,680 --> 00:36:14,319 Speaker 1: the world as we know it right now. It just 717 00:36:14,360 --> 00:36:18,479 Speaker 1: happened on February two. The world will never be the same. 718 00:36:19,360 --> 00:36:22,000 Speaker 1: There's only one option moving forward. In my opinion, I'm 719 00:36:22,040 --> 00:36:24,680 Speaker 1: pretty bolish on it, but I might have holes in 720 00:36:24,680 --> 00:36:26,760 Speaker 1: my game. So I feel free to send me a message. 721 00:36:27,160 --> 00:36:29,120 Speaker 1: And that's what I got for you today. Thanks for listening.