1 00:00:00,040 --> 00:00:03,120 Speaker 1: Hello, and welcome back to another episode of The Mark 2 00:00:03,240 --> 00:00:08,119 Speaker 1: Ma Show, where we talk about the decentralized revolution that 3 00:00:08,200 --> 00:00:11,559 Speaker 1: we are seeing happened throughout the world. I've got live 4 00:00:11,640 --> 00:00:14,320 Speaker 1: studio audience going on today cheering for me. Now I'm 5 00:00:14,360 --> 00:00:17,119 Speaker 1: just kidding, just trying out my new app here. But 6 00:00:17,680 --> 00:00:20,360 Speaker 1: we are talking about the decentralized revolution, talking about the 7 00:00:20,360 --> 00:00:22,720 Speaker 1: way the world is changing by looking at it through 8 00:00:22,760 --> 00:00:26,400 Speaker 1: the lens of politics, finance, and technology. Of course, bitcoin 9 00:00:26,920 --> 00:00:29,960 Speaker 1: is this technological revolution that is changing the world. And 10 00:00:30,000 --> 00:00:33,800 Speaker 1: so we're looking at this, um it's like watching paint dry. 11 00:00:34,120 --> 00:00:36,680 Speaker 1: You don't see it happening, but it's happening. And I'm 12 00:00:36,720 --> 00:00:38,840 Speaker 1: trying to narrate this for you so you can understand 13 00:00:39,240 --> 00:00:44,040 Speaker 1: why the world is just so crazy today and how 14 00:00:44,080 --> 00:00:45,800 Speaker 1: you can understand it, and of course how we can 15 00:00:45,880 --> 00:00:49,800 Speaker 1: navigate ourselves through this. And so probably the biggest story, 16 00:00:49,920 --> 00:00:55,800 Speaker 1: that the biggest never ending story, seems to be inflation, 17 00:00:56,800 --> 00:00:58,080 Speaker 1: and I want to talk about that. I know I've 18 00:00:58,080 --> 00:00:59,560 Speaker 1: been talking about it quite a bit, and I'm talking 19 00:00:59,560 --> 00:01:01,920 Speaker 1: about a bit for a couple of reasons, and I'll 20 00:01:01,920 --> 00:01:05,200 Speaker 1: break them down real quickly. Uh, First of all, it's 21 00:01:05,200 --> 00:01:10,319 Speaker 1: a massive, massive problem with massive implications that affects every 22 00:01:10,319 --> 00:01:14,319 Speaker 1: single one of us. I know for myself, Um, I 23 00:01:14,400 --> 00:01:17,399 Speaker 1: drive a truck and uh, it's gone up more than 24 00:01:17,440 --> 00:01:20,080 Speaker 1: double to fill up my gas tank, which is not 25 00:01:20,200 --> 00:01:23,280 Speaker 1: too good now. Luckily for me, my commute is very short, 26 00:01:23,360 --> 00:01:26,160 Speaker 1: just a couple of miles, but I know that here 27 00:01:26,160 --> 00:01:29,280 Speaker 1: in California some people commute an hour each day or 28 00:01:29,400 --> 00:01:31,800 Speaker 1: more and that's a big thing. But it's not just gas. 29 00:01:31,800 --> 00:01:34,240 Speaker 1: I mean it's it's food and so food and energy 30 00:01:34,240 --> 00:01:36,080 Speaker 1: are the two things that we're really being affected by 31 00:01:36,080 --> 00:01:38,600 Speaker 1: the motion. So it's just has massive implications. Now for 32 00:01:38,640 --> 00:01:41,920 Speaker 1: those that make less money, it affects them even more 33 00:01:42,000 --> 00:01:45,360 Speaker 1: because the more you make, the less percentage of your 34 00:01:45,360 --> 00:01:48,000 Speaker 1: total income is taken up by your food and energy. 35 00:01:48,280 --> 00:01:50,640 Speaker 1: But if you're living kind of paycheck to paycheck, it's 36 00:01:50,640 --> 00:01:52,320 Speaker 1: mostly just food and energy that you're buying, and it 37 00:01:52,320 --> 00:01:55,360 Speaker 1: has an enormous effect on there. The other reason why 38 00:01:55,360 --> 00:01:58,160 Speaker 1: I want to talk about it is, uh, because it's 39 00:01:58,320 --> 00:02:02,200 Speaker 1: very misunderstood, and I think intentionally, I think it's intentionally 40 00:02:02,560 --> 00:02:05,440 Speaker 1: um or I think you're being intentionally misled so you 41 00:02:05,440 --> 00:02:07,680 Speaker 1: don't understand what the situation is, so you don't place 42 00:02:07,760 --> 00:02:11,080 Speaker 1: your anger into the right place. But as misunderstood as 43 00:02:11,120 --> 00:02:15,400 Speaker 1: it might be, the leaders, the powers that be, the 44 00:02:15,400 --> 00:02:18,320 Speaker 1: ones that are supposed to be driving the bus, they 45 00:02:18,360 --> 00:02:22,280 Speaker 1: seem to not know anything about what's going on either. 46 00:02:22,639 --> 00:02:24,680 Speaker 1: I got some clips I'm gonna play from you about that. 47 00:02:24,720 --> 00:02:26,400 Speaker 1: So we're gonna look at look at this. I want 48 00:02:26,400 --> 00:02:30,200 Speaker 1: to explain, really what are the two main drivers of this. 49 00:02:31,400 --> 00:02:33,360 Speaker 1: So we'll talk about that. Like I said, we'll talk 50 00:02:33,400 --> 00:02:35,000 Speaker 1: about what's happened in the last couple of years that's 51 00:02:35,000 --> 00:02:39,160 Speaker 1: really pushed us into this level. Um, that's just unsustainable. Um, 52 00:02:39,200 --> 00:02:41,160 Speaker 1: talk about what this catalyst is. It's really gonna get 53 00:02:41,160 --> 00:02:42,560 Speaker 1: the market to drop. Like I said, have some clips 54 00:02:42,600 --> 00:02:45,600 Speaker 1: I'm gonna play from some of our elected leaders and 55 00:02:45,639 --> 00:02:49,240 Speaker 1: non elected leaders what they're saying directly from their mouth. Um, 56 00:02:49,320 --> 00:02:53,720 Speaker 1: we'll look at ways that you can protect yourself from this. 57 00:02:53,919 --> 00:02:59,960 Speaker 1: And then I have something that isn't too good, something 58 00:03:00,080 --> 00:03:03,320 Speaker 1: that the head of the Federal Reserve is saying, and 59 00:03:03,360 --> 00:03:06,000 Speaker 1: I think if you read through the words of what 60 00:03:06,080 --> 00:03:09,440 Speaker 1: he's saying, it looks like it could get even worse. 61 00:03:09,440 --> 00:03:11,760 Speaker 1: So I'm gonna break all that down for you and more. 62 00:03:11,880 --> 00:03:14,000 Speaker 1: Here as we're listening to the markma Show talking about 63 00:03:14,000 --> 00:03:17,680 Speaker 1: the decentralized Revolution, talking about bitcoin, talking about politics, finance 64 00:03:17,720 --> 00:03:22,560 Speaker 1: and technology, and again talking about inflation but giving you 65 00:03:22,600 --> 00:03:25,079 Speaker 1: a whole different perspective on it. So the first thing 66 00:03:25,400 --> 00:03:27,720 Speaker 1: is inflation is very difficult to understand for a bunch 67 00:03:27,720 --> 00:03:29,919 Speaker 1: of different reasons. I'll make this pretty simple for you. 68 00:03:30,240 --> 00:03:31,920 Speaker 1: I like to take these complex subjects and make them 69 00:03:31,919 --> 00:03:34,320 Speaker 1: easy to understand. So um it's it's difficult to understand 70 00:03:34,360 --> 00:03:38,440 Speaker 1: because um there's different definitions for it. So um per. 71 00:03:38,480 --> 00:03:42,840 Speaker 1: The Austrian economics view, inflation is when the money supply increases, 72 00:03:43,000 --> 00:03:45,840 Speaker 1: so you inflate the money supply and then like prices 73 00:03:45,880 --> 00:03:49,640 Speaker 1: going up, supply chains breaking down. That's the result of 74 00:03:49,680 --> 00:03:52,360 Speaker 1: the money supply going up. In today's day and age, 75 00:03:52,360 --> 00:03:55,240 Speaker 1: typically what we call inflation is prices going up, so 76 00:03:55,360 --> 00:03:58,840 Speaker 1: asset price inflation or consumer price inflation. So the government 77 00:03:58,880 --> 00:04:01,920 Speaker 1: reports this inflation or to us it's over eight percent. 78 00:04:02,080 --> 00:04:04,640 Speaker 1: That's the CPI Consumer Price Index. So I take a 79 00:04:04,640 --> 00:04:06,920 Speaker 1: basket of goods, they measure that basket of goods and 80 00:04:06,960 --> 00:04:09,320 Speaker 1: they see how much those prices go up. The reason 81 00:04:09,320 --> 00:04:13,240 Speaker 1: why that's a horrible way to look at it is because, um, 82 00:04:13,240 --> 00:04:17,560 Speaker 1: my basket of goods is different than your basket of goods. 83 00:04:17,560 --> 00:04:19,359 Speaker 1: Certain things like if if you're trying to buy a 84 00:04:19,400 --> 00:04:23,599 Speaker 1: house in Austin, Texas, or on the beach in Miami 85 00:04:23,720 --> 00:04:27,360 Speaker 1: or in southern California, inflation on your home purchase is 86 00:04:27,360 --> 00:04:30,200 Speaker 1: gonna be way different than your home inflation would be 87 00:04:30,240 --> 00:04:33,919 Speaker 1: in Indianapolis or in Kansas City. So it affects us 88 00:04:33,920 --> 00:04:36,160 Speaker 1: all differently. Also, you may not be trying to buy 89 00:04:36,160 --> 00:04:38,760 Speaker 1: a home, maybe I am. You may not be trying 90 00:04:38,800 --> 00:04:40,520 Speaker 1: to go to college or pay for medical care, maybe 91 00:04:40,520 --> 00:04:44,680 Speaker 1: I am. So certain things like Netflix and uh, you know, 92 00:04:45,200 --> 00:04:47,600 Speaker 1: Netflix and pizza, those things haven't gone up very much. 93 00:04:47,600 --> 00:04:49,279 Speaker 1: And if you're not paying for rent, living with your parents, 94 00:04:49,520 --> 00:04:52,120 Speaker 1: watching Netflix, eating pizza, inflation doesn't really bother you. But 95 00:04:52,160 --> 00:04:54,720 Speaker 1: if you're buying home in on the beach in Miami, 96 00:04:54,760 --> 00:04:57,400 Speaker 1: and you're trying to send your daughter to college, um, 97 00:04:57,520 --> 00:04:59,520 Speaker 1: then and you and you have medical bills, than inflations 98 00:04:59,560 --> 00:05:02,080 Speaker 1: hit and you really hard. So you understand, um, Inflation 99 00:05:02,160 --> 00:05:04,479 Speaker 1: is different all over the place, and it affects us 100 00:05:04,480 --> 00:05:05,880 Speaker 1: all differently. So that's why it's a horrible way to 101 00:05:05,880 --> 00:05:10,520 Speaker 1: look at it. UM. And then why do prices go up? Well, 102 00:05:10,520 --> 00:05:13,560 Speaker 1: there's a trillion reasons why prices would go up, and 103 00:05:13,560 --> 00:05:15,560 Speaker 1: so that's why we look at the increase of the money. 104 00:05:15,600 --> 00:05:19,440 Speaker 1: Supply causes all types of distortions that cause prices to 105 00:05:19,440 --> 00:05:22,680 Speaker 1: go up. Now, the powers that be again want to 106 00:05:23,000 --> 00:05:25,760 Speaker 1: intentionally mislead you, and they talk about them in really 107 00:05:25,839 --> 00:05:28,440 Speaker 1: two main ways. And and and really there's four main drivers, 108 00:05:28,839 --> 00:05:31,479 Speaker 1: and so you might hear about these so um one 109 00:05:31,520 --> 00:05:35,599 Speaker 1: of them is called cost push cost push. So cost 110 00:05:35,600 --> 00:05:38,800 Speaker 1: push inflation is the decrease in the aggregate supply of 111 00:05:38,839 --> 00:05:42,240 Speaker 1: goods and services stemming from an increase in the cost 112 00:05:42,320 --> 00:05:45,960 Speaker 1: of production. All right, So first of all, I'm gonna 113 00:05:45,960 --> 00:05:48,480 Speaker 1: I'm gonna give you these four drivers, but put just 114 00:05:48,520 --> 00:05:51,560 Speaker 1: put this in your head. First, all prices drive off 115 00:05:51,600 --> 00:05:55,960 Speaker 1: of supply and demand. If there's more supply, then there 116 00:05:56,040 --> 00:05:57,960 Speaker 1: is demand. Prices come down. If there's more demand and 117 00:05:57,960 --> 00:06:00,560 Speaker 1: there are supply, prices go up. So there are reasons 118 00:06:00,600 --> 00:06:03,680 Speaker 1: why supply and demand would be affected. So cost I'm 119 00:06:03,720 --> 00:06:07,120 Speaker 1: sorry yet, cost push. So when the price of goods 120 00:06:07,200 --> 00:06:11,919 Speaker 1: go up, when commodities go up, when shipping prices go up, 121 00:06:12,000 --> 00:06:14,760 Speaker 1: when less people are working, and companies raise their prices, 122 00:06:14,760 --> 00:06:18,160 Speaker 1: when costs go up, then those those high prices get 123 00:06:18,160 --> 00:06:22,200 Speaker 1: passed onto you, which you know, the cost of production 124 00:06:22,240 --> 00:06:26,440 Speaker 1: going up increases the price you're gonna pay. Cost push. Okay, 125 00:06:26,680 --> 00:06:29,200 Speaker 1: makes sense, It's kind of stupid to explain it, maybe, um. 126 00:06:29,200 --> 00:06:32,279 Speaker 1: And the second one is called demand poll, and the 127 00:06:32,320 --> 00:06:36,400 Speaker 1: demand pulls the increase in accurate demand category categorized by 128 00:06:36,400 --> 00:06:40,680 Speaker 1: four sections of the macroeconomy, households, business, governments, and foreign buyers. 129 00:06:40,880 --> 00:06:42,560 Speaker 1: I think it's ridiculous to break it down like this, 130 00:06:42,800 --> 00:06:47,160 Speaker 1: but demand pull, so when there's extra demand, when there's 131 00:06:47,160 --> 00:06:51,040 Speaker 1: more demand, there is supply, prices go up. I mean, 132 00:06:51,080 --> 00:06:52,440 Speaker 1: it's ridiculous to have to break this down, but this 133 00:06:52,480 --> 00:06:54,160 Speaker 1: is how the government breaks it down, and I think 134 00:06:54,160 --> 00:06:57,080 Speaker 1: it's intentionally meant to um confuse you. Now, there's two 135 00:06:57,120 --> 00:07:00,960 Speaker 1: other contributing factors to inflation that include one an increase 136 00:07:01,040 --> 00:07:04,479 Speaker 1: in the money supply of an economy and to a 137 00:07:04,720 --> 00:07:08,000 Speaker 1: decrease in the demand for the money. So an increase 138 00:07:08,000 --> 00:07:09,760 Speaker 1: in the money supply of the economy. So when you 139 00:07:09,960 --> 00:07:13,600 Speaker 1: increase the money supply, now you have more money chasing 140 00:07:13,960 --> 00:07:18,000 Speaker 1: the same amount of goods. So that's demand pull. So 141 00:07:18,040 --> 00:07:21,239 Speaker 1: they increase the money. All that money creates more demand 142 00:07:21,360 --> 00:07:23,720 Speaker 1: and it pulls the prices higher. So what we've seen 143 00:07:23,800 --> 00:07:25,600 Speaker 1: is kind of two things. So they want to blame 144 00:07:25,600 --> 00:07:27,880 Speaker 1: it on the supply chains breaking down, for example, So 145 00:07:27,920 --> 00:07:32,000 Speaker 1: the supply chains breakdown. Less people are working today, for example, 146 00:07:32,240 --> 00:07:34,480 Speaker 1: they have to pay people more to get them become 147 00:07:34,520 --> 00:07:38,000 Speaker 1: to work. So that's cost push. That's pushing the expenses up. 148 00:07:38,160 --> 00:07:40,640 Speaker 1: It's cost pushing the prices up. But it also why 149 00:07:40,720 --> 00:07:43,480 Speaker 1: is supply chains breaking down? Well, because in the United States, 150 00:07:43,480 --> 00:07:46,680 Speaker 1: we're ordering about products than we were before. Why why 151 00:07:46,680 --> 00:07:49,520 Speaker 1: are we ordering more products because there's so much money, 152 00:07:49,520 --> 00:07:52,840 Speaker 1: which is increased the demand, So the demand is pulling 153 00:07:52,880 --> 00:07:55,640 Speaker 1: the prices up, and the cost is also pushing prices 154 00:07:55,680 --> 00:07:59,520 Speaker 1: up at the same time. Again, just understand supply and demand. 155 00:07:59,720 --> 00:08:03,320 Speaker 1: So we have a food uh you know, massive food inflation, 156 00:08:03,360 --> 00:08:05,520 Speaker 1: not just in the States, all over the world. So 157 00:08:05,800 --> 00:08:08,320 Speaker 1: why are food prices going up because we don't have 158 00:08:08,640 --> 00:08:11,800 Speaker 1: enough food? Energy prices are going up? Why, Well, we 159 00:08:11,840 --> 00:08:14,360 Speaker 1: don't have enough energy. But there's also other reasons. I'm 160 00:08:14,400 --> 00:08:16,360 Speaker 1: not gonna dig super deep into them, and it's probably 161 00:08:16,520 --> 00:08:19,520 Speaker 1: for my my next show, but there's also reasons why 162 00:08:19,640 --> 00:08:22,120 Speaker 1: energy prices are going up, and that's cost push. So 163 00:08:22,240 --> 00:08:26,000 Speaker 1: regulations that are being imposed on farmers growing food, or 164 00:08:26,080 --> 00:08:28,800 Speaker 1: on energy companies getting that food out or I'm sorry, 165 00:08:28,800 --> 00:08:31,680 Speaker 1: the energy out pushes the prices up plus the demand, 166 00:08:31,720 --> 00:08:34,200 Speaker 1: so there's there's different factors. But the reason why I 167 00:08:34,200 --> 00:08:36,760 Speaker 1: wanted to break this down to you first is because 168 00:08:36,840 --> 00:08:39,599 Speaker 1: this demand pull peace. I'm going to circle back to 169 00:08:39,679 --> 00:08:42,160 Speaker 1: it at the end, and once I tell you what 170 00:08:42,200 --> 00:08:45,400 Speaker 1: these people are saying, it's gonna make sense. That's why 171 00:08:45,440 --> 00:08:48,240 Speaker 1: I want to set that up for you. Um, before 172 00:08:48,240 --> 00:08:50,360 Speaker 1: we get into that. You're listening to the Markmas Show 173 00:08:50,400 --> 00:08:53,319 Speaker 1: talking about Bitcoin of the Decentralized Revolution. I got a 174 00:08:53,360 --> 00:08:56,040 Speaker 1: lot more about inflation. Want to come back in a minute, 175 00:08:56,280 --> 00:08:59,120 Speaker 1: so do not go away, all right, welcome back. You 176 00:08:59,160 --> 00:09:01,480 Speaker 1: are listening to them Arkamas Show. We are talking about 177 00:09:01,480 --> 00:09:05,520 Speaker 1: the Decentralized Revolution each and every week, talking about bitcoin, cryptocurrencies, 178 00:09:05,800 --> 00:09:09,160 Speaker 1: of course, politics, finance, and technology as they all merge 179 00:09:09,200 --> 00:09:12,080 Speaker 1: and they all change around. What is happening right now? 180 00:09:12,280 --> 00:09:14,720 Speaker 1: And we've been talking about inflation and I'm trying to 181 00:09:14,800 --> 00:09:17,880 Speaker 1: break down some of the definitions because you're being misled, 182 00:09:17,960 --> 00:09:21,199 Speaker 1: and then we're gonna circle back to that. But it's 183 00:09:21,240 --> 00:09:23,800 Speaker 1: no surprise, right Inflation is the high. It's been highest 184 00:09:23,840 --> 00:09:28,680 Speaker 1: it's been in forty years, no surprise. Homes are high, 185 00:09:28,800 --> 00:09:31,000 Speaker 1: gas is high, food is high. Of course, the two 186 00:09:31,000 --> 00:09:33,040 Speaker 1: main things we need, energy and food are going higher. 187 00:09:33,840 --> 00:09:35,559 Speaker 1: The one thing to keep in mind is the highest 188 00:09:35,640 --> 00:09:38,000 Speaker 1: been in forty years? So what's been this high before? Right? 189 00:09:38,040 --> 00:09:42,400 Speaker 1: No big deal? Yes, But when it was this high before, 190 00:09:42,480 --> 00:09:44,440 Speaker 1: it was in the eighties, and we had to take 191 00:09:44,960 --> 00:09:48,520 Speaker 1: massively drastic actions in order to get the price of 192 00:09:48,559 --> 00:09:51,320 Speaker 1: inflation to come back down under Reagan. Under President Reagan, 193 00:09:51,800 --> 00:09:57,640 Speaker 1: the Fed Secretary Fed Treasuries UH Paul Volker raised interest 194 00:09:57,760 --> 00:10:02,360 Speaker 1: rates drastically to get inflation to come back down. But 195 00:10:02,600 --> 00:10:05,120 Speaker 1: this time we're in a much different place than we 196 00:10:05,120 --> 00:10:09,240 Speaker 1: were were before because now we have massive amounts of debt, 197 00:10:09,240 --> 00:10:13,280 Speaker 1: particularly we have over thirty trillion dollars of federal debt. 198 00:10:13,559 --> 00:10:16,120 Speaker 1: And the problem is if they raise the rates, the 199 00:10:16,280 --> 00:10:19,920 Speaker 1: interest on that debt becomes unsustainable. I mean, it's already 200 00:10:19,960 --> 00:10:22,880 Speaker 1: usustainable as it is, but it becomes um It could 201 00:10:22,960 --> 00:10:25,360 Speaker 1: if if we get you know, interest rates over three percent, 202 00:10:25,480 --> 00:10:28,920 Speaker 1: we could see the interest on that debt becoming more 203 00:10:29,200 --> 00:10:32,400 Speaker 1: than the tax revenue, the income tax revenue the government 204 00:10:32,400 --> 00:10:35,760 Speaker 1: receives that would be drastic, that'd be really, really bad, 205 00:10:36,000 --> 00:10:37,520 Speaker 1: And so we're in a much different place. We didn't 206 00:10:37,559 --> 00:10:39,680 Speaker 1: have that problem in the eighties, and so those tools 207 00:10:39,679 --> 00:10:41,760 Speaker 1: that we used to come back back then we don't 208 00:10:41,840 --> 00:10:44,280 Speaker 1: have today. But how did we get here? Let's walk 209 00:10:44,280 --> 00:10:49,480 Speaker 1: through that real quickly. Um, how did we get here? Well? Easy, 210 00:10:50,080 --> 00:10:53,080 Speaker 1: spending more than you make and living off of credit. 211 00:10:53,520 --> 00:10:55,400 Speaker 1: If you've ever tried it in your household, it doesn't 212 00:10:55,480 --> 00:10:57,920 Speaker 1: last very long. You can live off your whole equity line, 213 00:10:57,960 --> 00:11:00,079 Speaker 1: you can live off your credit cards, but eventually you 214 00:11:00,120 --> 00:11:02,560 Speaker 1: can't pay those bills and that credit runs out. And 215 00:11:02,559 --> 00:11:04,760 Speaker 1: that's exactly how we got here. Like I said before, 216 00:11:04,760 --> 00:11:07,240 Speaker 1: we've been seeing about a ten pc inflation for the 217 00:11:07,280 --> 00:11:10,360 Speaker 1: last hundred years, but it's really accelerated over the last 218 00:11:10,400 --> 00:11:14,199 Speaker 1: two years because of course, the war, the War on COVID, 219 00:11:14,520 --> 00:11:16,320 Speaker 1: and in order to fight that war, in order to 220 00:11:16,360 --> 00:11:21,520 Speaker 1: combat the economic and financial effects of the war, the 221 00:11:21,559 --> 00:11:24,040 Speaker 1: FED did extraordinary measures. And I call it the war 222 00:11:24,080 --> 00:11:27,199 Speaker 1: because obviously it was a war on COVID, but it wasn't. 223 00:11:27,280 --> 00:11:30,439 Speaker 1: It wasn't COVID that was the problem. It was the 224 00:11:30,640 --> 00:11:34,960 Speaker 1: response to it that was the problem. And so the 225 00:11:35,200 --> 00:11:39,520 Speaker 1: entire United States economy and global economies were forced to 226 00:11:39,640 --> 00:11:42,840 Speaker 1: shut down. You had all the small businesses, all the 227 00:11:42,840 --> 00:11:45,839 Speaker 1: mom pop businesses here in Los Angeles, businesses that have 228 00:11:45,920 --> 00:11:49,560 Speaker 1: been around families, you know for multiple generations. Um icons, 229 00:11:49,640 --> 00:11:53,720 Speaker 1: marquee spots in Hollywood gone just out of business. Everyone's 230 00:11:53,720 --> 00:11:57,320 Speaker 1: just shut down. And so in order to combat that war, 231 00:11:57,800 --> 00:12:01,120 Speaker 1: then they introduced a couple of things. One, they brought 232 00:12:01,200 --> 00:12:04,640 Speaker 1: interest rates to zero ZERP as we call it zero 233 00:12:04,760 --> 00:12:08,720 Speaker 1: interest rate policies ZIRP. Did that, did that again. They 234 00:12:08,760 --> 00:12:14,040 Speaker 1: started unlimited que quantitative easing UM. And then they used 235 00:12:14,040 --> 00:12:16,680 Speaker 1: that quantitative easy and that that money that monitor that 236 00:12:16,679 --> 00:12:19,880 Speaker 1: new monetary money that they've created to buy mortgage backed securities, 237 00:12:19,960 --> 00:12:24,840 Speaker 1: nbs U S treasuries, corporate debt um issued by corporations, 238 00:12:24,880 --> 00:12:29,160 Speaker 1: corporate debt, e t fs, municipal debts, so that states, counties, 239 00:12:29,200 --> 00:12:33,160 Speaker 1: things like that, see the certificate of deposits, student loans, 240 00:12:33,880 --> 00:12:36,600 Speaker 1: and auto loans. So they started all used all this money, 241 00:12:36,640 --> 00:12:40,560 Speaker 1: start buying all that up. And the total bill for 242 00:12:40,600 --> 00:12:44,600 Speaker 1: the FEDS interventions of this were five trillion dollars. Now, 243 00:12:44,640 --> 00:12:46,640 Speaker 1: if we put that another way, the FED was printing 244 00:12:46,640 --> 00:12:51,600 Speaker 1: an amount of money equal to Spain's economy every twelve months, 245 00:12:52,280 --> 00:12:55,880 Speaker 1: and the entire output of their economy we were creating 246 00:12:55,920 --> 00:12:57,880 Speaker 1: in a thin air every twelve months. Now to put 247 00:12:57,880 --> 00:13:01,240 Speaker 1: this into uh into something you can understand, because I 248 00:13:01,400 --> 00:13:04,640 Speaker 1: this is difficult. We throw these numbers around million, billion, 249 00:13:04,679 --> 00:13:11,119 Speaker 1: trillion whatever. A trillion, five trillion is five thousand billions 250 00:13:12,559 --> 00:13:17,320 Speaker 1: or five million millions. It's a lot. And if you 251 00:13:17,400 --> 00:13:22,880 Speaker 1: laid out five trillion dollars in one bills lengthwise, back 252 00:13:22,880 --> 00:13:24,480 Speaker 1: to back to back to back, it would go from 253 00:13:24,480 --> 00:13:27,160 Speaker 1: the Earth to the moon ten times. It's a lot. 254 00:13:27,200 --> 00:13:30,360 Speaker 1: It's a lot of bills. So they stimulated all the 255 00:13:30,400 --> 00:13:32,280 Speaker 1: way through the crash, and it wasn't so much even 256 00:13:32,320 --> 00:13:35,080 Speaker 1: that they stimulated through the crash. The problem was that 257 00:13:35,160 --> 00:13:39,240 Speaker 1: they continued to stimulate for way too long. So as 258 00:13:39,280 --> 00:13:43,560 Speaker 1: the market started to recover, as um unemployment continue to drop, 259 00:13:43,600 --> 00:13:45,800 Speaker 1: the economy started recover, business started opening back up again, 260 00:13:46,720 --> 00:13:49,200 Speaker 1: they didn't get their foot off the gas pedal. They 261 00:13:49,320 --> 00:13:51,720 Speaker 1: kept it going. Now, if you look at a chart 262 00:13:51,760 --> 00:13:54,120 Speaker 1: of CPI consumer price Index, which is the number the 263 00:13:54,160 --> 00:13:57,000 Speaker 1: government gives us to measure inflation, you can see that 264 00:13:57,080 --> 00:13:58,960 Speaker 1: it was going along, going along, and then just started 265 00:13:59,000 --> 00:14:02,600 Speaker 1: spiking almost straight up vertical. A chart that would be 266 00:14:02,600 --> 00:14:04,840 Speaker 1: so simple that a third grader could look at that 267 00:14:04,960 --> 00:14:07,920 Speaker 1: chart and could go, wait a minute, that's the problem. 268 00:14:07,920 --> 00:14:10,360 Speaker 1: Look at this number going straight up. You could see that. 269 00:14:11,200 --> 00:14:14,480 Speaker 1: And what's what's astonishing is that if a third grader 270 00:14:14,480 --> 00:14:17,880 Speaker 1: could see it, how did the FED nancy it? So? 271 00:14:17,960 --> 00:14:20,800 Speaker 1: The FED has over four hundred economists pH d s 272 00:14:20,840 --> 00:14:24,600 Speaker 1: on their payroll, a hundred and fifty research assistance on payroll, 273 00:14:24,880 --> 00:14:28,400 Speaker 1: have access to the best real time economic data, the 274 00:14:28,440 --> 00:14:31,680 Speaker 1: best and the brightest that we can produce. And yet 275 00:14:31,840 --> 00:14:34,240 Speaker 1: Janet Yelling from the Treasury and j Powe from the Fed, 276 00:14:34,720 --> 00:14:38,960 Speaker 1: we're both blindsided. They're both blindsided by this. As a 277 00:14:38,960 --> 00:14:42,400 Speaker 1: matter of fact, let's hear it directly from them. I 278 00:14:42,400 --> 00:14:44,080 Speaker 1: got a clip here, let's go ahead and play this 279 00:14:44,160 --> 00:14:46,760 Speaker 1: of Janet Yell and talking about her and Jerome Powell, 280 00:14:47,760 --> 00:14:50,920 Speaker 1: and I said that inflation would be transitory. What I 281 00:14:51,040 --> 00:14:55,640 Speaker 1: was not anticipating was a scenario in which we would 282 00:14:56,080 --> 00:15:01,480 Speaker 1: end up contending with multiple variants of COVID. It would 283 00:15:01,560 --> 00:15:06,400 Speaker 1: be scrambling our economy and global supply chains. And I 284 00:15:06,520 --> 00:15:13,040 Speaker 1: was not envisioning um impacts on food and energy prices. 285 00:15:13,200 --> 00:15:18,960 Speaker 1: We've seen mm hmm. So they were blindsided. They didn't 286 00:15:19,080 --> 00:15:23,120 Speaker 1: envision the impacts on food and energy. They didn't think 287 00:15:23,160 --> 00:15:27,520 Speaker 1: through what would happen if you create five trillion more 288 00:15:28,080 --> 00:15:34,680 Speaker 1: currency chasing limited goods and services. Again, this is elementary. 289 00:15:35,280 --> 00:15:38,000 Speaker 1: If you increase the demand and you don't increase the supplier. 290 00:15:38,040 --> 00:15:41,040 Speaker 1: In this case, you reduced the supply and increase the 291 00:15:41,080 --> 00:15:43,680 Speaker 1: demand at the same time. What's going to happen you 292 00:15:43,760 --> 00:15:46,880 Speaker 1: already know. But of course Jerome Power and Jenny Yellen said, 293 00:15:46,880 --> 00:15:49,080 Speaker 1: we didn't think through this. We didn't think through what 294 00:15:49,120 --> 00:15:51,800 Speaker 1: would happen to food. We didn't think through what would 295 00:15:51,840 --> 00:15:54,200 Speaker 1: happen to energy. And they kept saying, first, it's not 296 00:15:54,200 --> 00:15:57,400 Speaker 1: a problem, is not a problems, not a problem. It 297 00:15:57,480 --> 00:15:59,240 Speaker 1: wasn't a problem. We can't we can't get the inflation 298 00:15:59,280 --> 00:16:00,400 Speaker 1: we want now. Like I said, if you look at 299 00:16:00,440 --> 00:16:03,400 Speaker 1: the chart, or you just think through it for a minute, 300 00:16:03,400 --> 00:16:05,680 Speaker 1: if we increased this money and we decreased the goods 301 00:16:05,680 --> 00:16:09,000 Speaker 1: and services price go up, anyone could tell you that. 302 00:16:09,000 --> 00:16:11,000 Speaker 1: An elementary person could tell you this. I had played 303 00:16:11,000 --> 00:16:13,120 Speaker 1: a clip before on the radio show before We're It 304 00:16:13,240 --> 00:16:16,200 Speaker 1: was a clip from Oh Christinian and Georgina from the 305 00:16:16,200 --> 00:16:18,160 Speaker 1: I M. F and it was with her and Jerome 306 00:16:18,200 --> 00:16:21,400 Speaker 1: Powell and yelling I believe and they were laughing, and 307 00:16:21,480 --> 00:16:24,080 Speaker 1: Krystellina from the I M S said, UM, I guess 308 00:16:24,120 --> 00:16:28,960 Speaker 1: we didn't think through the unintended consequences of this. And 309 00:16:29,000 --> 00:16:31,800 Speaker 1: then she said, I guess we're sort of like a 310 00:16:31,840 --> 00:16:35,120 Speaker 1: bunch of eight year olds playing soccer. Instead of covering 311 00:16:35,120 --> 00:16:37,200 Speaker 1: the field, we just chased the ball around. So she said, 312 00:16:37,200 --> 00:16:41,000 Speaker 1: we're like eight year olds. But to my point, eight 313 00:16:41,080 --> 00:16:44,400 Speaker 1: year olds or third graders could have spotted the problem 314 00:16:44,480 --> 00:16:47,280 Speaker 1: and yet they didn't. UM. I have some more clips 315 00:16:47,280 --> 00:16:49,760 Speaker 1: that I want to UM play when I get back, 316 00:16:49,840 --> 00:16:53,600 Speaker 1: because the story is changing now. It went from not 317 00:16:53,680 --> 00:16:56,760 Speaker 1: a problem to uh, we have it under control too. 318 00:16:57,040 --> 00:17:00,200 Speaker 1: It's it's just transitory, and now the whole art of 319 00:17:00,240 --> 00:17:01,880 Speaker 1: completely change. I'm gonna play these clips. You can hear 320 00:17:01,920 --> 00:17:04,119 Speaker 1: it directly from their mouth, and then I'll come back 321 00:17:04,160 --> 00:17:08,320 Speaker 1: to the point we talked about about. Unfortunately, UM the 322 00:17:09,119 --> 00:17:11,760 Speaker 1: solutions that they have and and they're not good. You're 323 00:17:11,760 --> 00:17:13,919 Speaker 1: listening to the Mark ma Show. We're talking about the 324 00:17:14,040 --> 00:17:18,399 Speaker 1: decentralized revolution. The world is changing because bitcoin and decentralized 325 00:17:18,440 --> 00:17:20,680 Speaker 1: technology is changing it. We're looking at through the lens 326 00:17:20,720 --> 00:17:23,280 Speaker 1: of politics, finance, and technology. I'm gonna play these clips, 327 00:17:24,000 --> 00:17:27,639 Speaker 1: keep digging into inflation so you can understand what comes next. 328 00:17:27,960 --> 00:17:29,439 Speaker 1: I have that and more when I come back, So 329 00:17:29,520 --> 00:17:31,680 Speaker 1: don't go away, all right, welcome back. You were listening 330 00:17:31,720 --> 00:17:35,440 Speaker 1: to the Mark Ma Show. I'm narrating you through this 331 00:17:35,600 --> 00:17:40,280 Speaker 1: decentralized revolution, is the world changes from global centrally controlled 332 00:17:40,280 --> 00:17:43,000 Speaker 1: powers into a decentralized world, which of course is being 333 00:17:43,040 --> 00:17:46,359 Speaker 1: spearheaded by bitcoin and decentralized technology. And looking at through 334 00:17:46,400 --> 00:17:48,800 Speaker 1: the lens of politics, finance, and technology. We're talking specifically 335 00:17:48,840 --> 00:17:52,760 Speaker 1: about inflation and the central planners, the central planners of 336 00:17:52,800 --> 00:17:55,800 Speaker 1: the Central Bank, and how bad they have screwed this 337 00:17:55,920 --> 00:17:57,680 Speaker 1: up in their own words. We just played a clip 338 00:17:57,720 --> 00:17:59,879 Speaker 1: of Janet Allen talking about herself and Jerome pal and 339 00:18:00,600 --> 00:18:03,840 Speaker 1: they didn't think through that increasing all this money supply 340 00:18:04,119 --> 00:18:08,480 Speaker 1: would cause these problems, because nobody understands that if you 341 00:18:08,520 --> 00:18:10,560 Speaker 1: increase the money supply and you decrease the amount of 342 00:18:10,600 --> 00:18:13,680 Speaker 1: goods that you get inflation. I guess they don't understand that, 343 00:18:13,960 --> 00:18:16,359 Speaker 1: which is crazy. But they went from like I said, 344 00:18:16,480 --> 00:18:19,000 Speaker 1: from it's not a problem too, it's manageable too. It's 345 00:18:19,000 --> 00:18:22,400 Speaker 1: just transitory is going to go away too. Oh crap, 346 00:18:22,600 --> 00:18:26,520 Speaker 1: we have a big problem on our hands. And let's 347 00:18:26,520 --> 00:18:30,960 Speaker 1: play this other clip here. We have check this out. Um, 348 00:18:31,000 --> 00:18:36,080 Speaker 1: it's true, Powell indicated himself. Um, both of us probably 349 00:18:36,119 --> 00:18:40,040 Speaker 1: could have used a better term than transitory. I do 350 00:18:40,200 --> 00:18:45,560 Speaker 1: expect inflation to remain high, although I very much hoped 351 00:18:45,600 --> 00:18:49,880 Speaker 1: that it will be coming down now mm hmm. So 352 00:18:49,920 --> 00:18:55,840 Speaker 1: they should have used a word better than transitory, like persistent, 353 00:18:56,040 --> 00:18:59,679 Speaker 1: maybe out of control potentially, or how about our fault 354 00:19:00,040 --> 00:19:02,359 Speaker 1: me any of one of those words could have could 355 00:19:02,359 --> 00:19:05,480 Speaker 1: have worked. Um, but no, they just said well it's 356 00:19:05,480 --> 00:19:08,200 Speaker 1: transitory to like, well, I guess we could have used 357 00:19:08,200 --> 00:19:12,360 Speaker 1: the better word, and they went from we can manage this, 358 00:19:12,440 --> 00:19:13,800 Speaker 1: and so this is what you have to pay attention 359 00:19:13,800 --> 00:19:16,160 Speaker 1: when these people talk. You need to really dissect every word. 360 00:19:16,359 --> 00:19:20,439 Speaker 1: It went from we can manage this too, now we hope, 361 00:19:21,680 --> 00:19:25,280 Speaker 1: now we hope. But it's even worse than that. All right, 362 00:19:25,320 --> 00:19:27,280 Speaker 1: So now they've they've gone from we can manage it 363 00:19:27,320 --> 00:19:30,480 Speaker 1: to um, basically lied to you or we didn't know better. 364 00:19:30,640 --> 00:19:33,800 Speaker 1: So is it a lie or are they really incompetent? 365 00:19:34,680 --> 00:19:40,120 Speaker 1: In my opinion, either way, there's a problem if my 366 00:19:40,840 --> 00:19:43,040 Speaker 1: You know, if if if one of your friends, one 367 00:19:43,040 --> 00:19:46,880 Speaker 1: of your business associates, your employees, your wife, if they 368 00:19:47,000 --> 00:19:49,240 Speaker 1: lied to you or they are incompetent, you would probably 369 00:19:49,240 --> 00:19:53,199 Speaker 1: remove them either way, either way, whether they're incompetent or 370 00:19:53,200 --> 00:19:55,159 Speaker 1: whether it's a lie. But now they're changing this narrative, 371 00:19:55,400 --> 00:20:00,000 Speaker 1: so we should hope. But Secretary Yelling came out and said, um, 372 00:20:00,000 --> 00:20:02,680 Speaker 1: now in a report about a third of US inflation 373 00:20:02,760 --> 00:20:05,080 Speaker 1: is as a rule, is a result of new and 374 00:20:05,320 --> 00:20:11,520 Speaker 1: used cars, all due to the shortage of semiconductors. Really, 375 00:20:11,880 --> 00:20:14,480 Speaker 1: see now they're trying to shift the blame. They're trying 376 00:20:14,480 --> 00:20:16,280 Speaker 1: to shift them, and they're trying to change that anybody else. 377 00:20:16,359 --> 00:20:19,040 Speaker 1: So now a third of the problem with inflation as 378 00:20:19,040 --> 00:20:22,199 Speaker 1: a result of new news cars. Does the shortage of 379 00:20:22,240 --> 00:20:28,160 Speaker 1: semiconductors explain the twent you're over your house price increases? 380 00:20:28,359 --> 00:20:31,200 Speaker 1: Does it? Does it? Does it explain that? Does it 381 00:20:31,320 --> 00:20:34,000 Speaker 1: explain the food going up? Right? Does it explain the 382 00:20:34,000 --> 00:20:35,399 Speaker 1: gas going up? With the food and energy? Of the 383 00:20:35,440 --> 00:20:38,960 Speaker 1: two big things? Does use cars or semiconductors? Well, first 384 00:20:38,960 --> 00:20:43,520 Speaker 1: of all, used cars have already been built. Sem semiconductors 385 00:20:43,560 --> 00:20:45,320 Speaker 1: don't put as many new cars. If there's not many 386 00:20:45,320 --> 00:20:47,320 Speaker 1: new cars. I guess they buy used cars. That makes sense. 387 00:20:47,359 --> 00:20:49,880 Speaker 1: But why does food go up? Why does gas go up? 388 00:20:49,920 --> 00:20:53,439 Speaker 1: Why do homes go up? And the point is it doesn't. 389 00:20:53,800 --> 00:20:55,480 Speaker 1: The point is it doesn't. So but but my point 390 00:20:55,520 --> 00:20:57,879 Speaker 1: is of trying to shift the narrative and then the 391 00:20:57,960 --> 00:21:02,560 Speaker 1: narrative change to senator Senator Elizabeth Warren, who really cares 392 00:21:02,600 --> 00:21:06,359 Speaker 1: for little guys. We saw her last Thanksgiving, last November saying, 393 00:21:07,280 --> 00:21:10,480 Speaker 1: the problem with inflation is these greedy corporations. That's always 394 00:21:10,520 --> 00:21:13,240 Speaker 1: her line. It's always these greedy corporations trying to take 395 00:21:13,280 --> 00:21:15,200 Speaker 1: it to you. And of course we need the government 396 00:21:15,200 --> 00:21:16,920 Speaker 1: to protect us from these greedy corporations. In the last 397 00:21:16,960 --> 00:21:19,639 Speaker 1: November she said it was the turkey manufacturers. It was 398 00:21:19,680 --> 00:21:23,400 Speaker 1: their fault. They're gouging you on the price of turkeys, 399 00:21:23,720 --> 00:21:26,840 Speaker 1: and somebody, you know, me and the government, we should 400 00:21:26,880 --> 00:21:28,760 Speaker 1: tell them how to run their business, so they don't. 401 00:21:28,840 --> 00:21:33,520 Speaker 1: They don't gouge you on turkey. So it went from um, 402 00:21:33,560 --> 00:21:35,800 Speaker 1: all this money we printed caused the problem. We didn't. 403 00:21:35,800 --> 00:21:38,320 Speaker 1: We didn't. We didn't think about it. We didn't understand 404 00:21:38,359 --> 00:21:39,840 Speaker 1: that it would do this. We just didn't think through 405 00:21:39,880 --> 00:21:41,879 Speaker 1: that too. But don't worry we have it under control, 406 00:21:41,960 --> 00:21:44,600 Speaker 1: to oh it's transitory, to oh, shoot, it's a problem, 407 00:21:44,640 --> 00:21:47,639 Speaker 1: to now blaming it, Oh, it's on semi conductors. And 408 00:21:47,640 --> 00:21:51,840 Speaker 1: then we have Elizabeth Warren saying it's big corporations. We're 409 00:21:51,840 --> 00:21:55,000 Speaker 1: reading this quote. Big corporations have been price gouging consumers 410 00:21:55,280 --> 00:21:59,560 Speaker 1: and using inflation as cover to pump up their profits 411 00:21:59,720 --> 00:22:04,120 Speaker 1: while Americans struggle with rising costs. How dare they? How 412 00:22:04,280 --> 00:22:08,320 Speaker 1: dare they pump up profits? Um using inflation is covered. 413 00:22:08,680 --> 00:22:12,359 Speaker 1: We need to enforce our antitrust laws and crack down 414 00:22:12,400 --> 00:22:16,479 Speaker 1: on corporate price gouging to bring costs down. She has 415 00:22:16,640 --> 00:22:21,840 Speaker 1: she knows absolutely zero. She knows less than zero about economics. 416 00:22:21,880 --> 00:22:25,000 Speaker 1: One o one, all right, in a free market, you 417 00:22:25,040 --> 00:22:29,680 Speaker 1: don't have price gouging. If I decide that I want 418 00:22:29,680 --> 00:22:32,280 Speaker 1: to sell my gas for twenty bucks a gallon and 419 00:22:32,359 --> 00:22:34,840 Speaker 1: everybody else is selling it for six bucks a gallon, 420 00:22:35,320 --> 00:22:39,000 Speaker 1: how much business am I going to get? I can't gouge. Right, 421 00:22:39,320 --> 00:22:41,359 Speaker 1: If if a business wants to gouge you on the 422 00:22:41,359 --> 00:22:43,520 Speaker 1: price of their turkeys, someone else is gonna sell you 423 00:22:43,520 --> 00:22:47,119 Speaker 1: turkeys for cheaper. Right, that creates an opportunity. So in 424 00:22:47,200 --> 00:22:50,359 Speaker 1: a free market, economics one oh one. We're always looking 425 00:22:50,400 --> 00:22:53,040 Speaker 1: for that. If someone's charging more, I can charge less. 426 00:22:53,080 --> 00:22:56,320 Speaker 1: I'm gonna do that. Through competition, prices always come down. 427 00:22:56,320 --> 00:22:58,600 Speaker 1: We get better products, we get better service, we get 428 00:22:58,600 --> 00:23:04,360 Speaker 1: better prices. Only through their cracking down does it give 429 00:23:04,400 --> 00:23:06,960 Speaker 1: the businesses the ability to charge more. So what do 430 00:23:07,000 --> 00:23:10,080 Speaker 1: I mean by that? Through their cracking down and passing 431 00:23:10,080 --> 00:23:12,920 Speaker 1: more laws and regulations, what it does is it protects 432 00:23:13,000 --> 00:23:16,800 Speaker 1: these big businesses by putting all these barriers, all these gateways, 433 00:23:17,000 --> 00:23:19,800 Speaker 1: so new competition isn't able to come into the market 434 00:23:19,800 --> 00:23:24,200 Speaker 1: and compete. It's through their cracking down. They want to 435 00:23:24,359 --> 00:23:27,359 Speaker 1: spin this narrative that it's the it's the reason why 436 00:23:27,440 --> 00:23:29,560 Speaker 1: we have inflation. Isn't isn't our policies. Isn't because we 437 00:23:29,560 --> 00:23:31,040 Speaker 1: didn't think through all the problems. Isn't because we didn't 438 00:23:31,040 --> 00:23:33,320 Speaker 1: print five show due. It's because of these corporations. And 439 00:23:33,320 --> 00:23:36,240 Speaker 1: if you let us as the government have complete control 440 00:23:36,280 --> 00:23:40,199 Speaker 1: over the economy, then we could magically make the prices 441 00:23:40,280 --> 00:23:43,200 Speaker 1: better for you. That's what she's saying. So just notice 442 00:23:43,280 --> 00:23:48,440 Speaker 1: this narrative shifting, and it's shifted even more. And this 443 00:23:48,520 --> 00:23:52,120 Speaker 1: is one that I just can't get over. If you're 444 00:23:52,640 --> 00:23:57,040 Speaker 1: not aware. If you're not aware of the White House 445 00:23:57,040 --> 00:24:01,120 Speaker 1: Press secretary, UM got we had to change over there. 446 00:24:01,560 --> 00:24:04,040 Speaker 1: I don't I don't know all the reasons Jen Zaki 447 00:24:04,200 --> 00:24:06,920 Speaker 1: is not with us. I believe what I've looked into 448 00:24:06,960 --> 00:24:10,560 Speaker 1: a little bit. We needed more equitable, we need more diversity. 449 00:24:10,720 --> 00:24:15,840 Speaker 1: So we needed a UM black immigrant, UM lesbian, I 450 00:24:15,880 --> 00:24:19,480 Speaker 1: believe because we couldn't have a white person in there. 451 00:24:19,960 --> 00:24:25,240 Speaker 1: So never the case, we hired off of those demographics 452 00:24:25,280 --> 00:24:26,879 Speaker 1: instead of just trying to find the best person for 453 00:24:26,880 --> 00:24:29,320 Speaker 1: the job. And so now we have the new White 454 00:24:29,320 --> 00:24:33,480 Speaker 1: House Press Dietary, Karine Jean Pierre, and now she's trying 455 00:24:33,480 --> 00:24:37,880 Speaker 1: to tell us a completely different narrative about inflation. Let's 456 00:24:37,880 --> 00:24:39,840 Speaker 1: play that. I want to play it directly from her mouth, 457 00:24:39,880 --> 00:24:43,080 Speaker 1: because you wouldn't believe it if I said it. What 458 00:24:43,119 --> 00:24:45,480 Speaker 1: we're trying to say, what I'm trying to say to 459 00:24:45,560 --> 00:24:47,840 Speaker 1: you is that the economy is in a better place 460 00:24:47,840 --> 00:24:51,360 Speaker 1: than it has been historically. And so we feel here 461 00:24:51,359 --> 00:24:54,080 Speaker 1: at this administration and other experts as well, is that 462 00:24:54,119 --> 00:24:56,399 Speaker 1: we feel that we are in a good position to 463 00:24:56,600 --> 00:24:59,560 Speaker 1: take on inflation. We are in a good position to 464 00:24:59,680 --> 00:25:05,359 Speaker 1: really start really working on Wait, um did she say 465 00:25:05,440 --> 00:25:08,960 Speaker 1: that we're in a better position than we have been historically. 466 00:25:09,680 --> 00:25:12,080 Speaker 1: Is that what she said? She said, we're in a 467 00:25:12,160 --> 00:25:18,200 Speaker 1: really good position historically. So remember when inflation was this 468 00:25:18,280 --> 00:25:21,720 Speaker 1: high and tooth in in UH in the eighties, we 469 00:25:21,760 --> 00:25:23,960 Speaker 1: didn't have very any debt and we could just raise 470 00:25:24,119 --> 00:25:27,000 Speaker 1: the interest rates. But today we have thirty one trillion 471 00:25:27,080 --> 00:25:31,120 Speaker 1: dollars worth of debt with over two hundred trillion dollars 472 00:25:31,160 --> 00:25:36,159 Speaker 1: in unfunded liabilities. That's a way better position. That's a 473 00:25:36,160 --> 00:25:40,120 Speaker 1: way better position. This quarter, the first quarter of two 474 00:25:40,160 --> 00:25:44,520 Speaker 1: thousand twenty two, we saw growth g d P growth, 475 00:25:44,520 --> 00:25:49,960 Speaker 1: economic growth go negative. We went from five percent growth 476 00:25:50,840 --> 00:25:58,600 Speaker 1: to minus one point four percent. That's great historically. I 477 00:25:58,640 --> 00:26:01,320 Speaker 1: got more stats. If she says that we're in a 478 00:26:01,440 --> 00:26:04,280 Speaker 1: much better place historically and our economy is in a 479 00:26:04,400 --> 00:26:06,720 Speaker 1: very good place to take on this inflation, well I 480 00:26:06,760 --> 00:26:08,800 Speaker 1: got some stats that are going to tell you otherwise. 481 00:26:09,359 --> 00:26:11,920 Speaker 1: And we're gonna get back to um what they're really 482 00:26:11,960 --> 00:26:14,800 Speaker 1: trying to do here, the sinister plan that they have 483 00:26:14,960 --> 00:26:18,399 Speaker 1: for us, and it goes back to where we started 484 00:26:18,440 --> 00:26:22,200 Speaker 1: with this demand push m demand pull and cost push. 485 00:26:22,280 --> 00:26:24,520 Speaker 1: If you understand those two things. When I get to 486 00:26:24,560 --> 00:26:26,080 Speaker 1: the end, of this, you are going to know what 487 00:26:26,240 --> 00:26:28,000 Speaker 1: is coming next. And like I said, it's not good, 488 00:26:28,880 --> 00:26:30,760 Speaker 1: but we just have to pay attention. What are they saying? 489 00:26:30,800 --> 00:26:34,640 Speaker 1: Each word has been meticulously picked to try to tell 490 00:26:34,720 --> 00:26:36,840 Speaker 1: us this narrative, this spin, this narrative. Their their gas 491 00:26:36,960 --> 00:26:38,760 Speaker 1: lighting you is what they are, their gas lighting them. 492 00:26:38,840 --> 00:26:40,560 Speaker 1: You're listening to the Markmas Show. We're talking about the 493 00:26:40,640 --> 00:26:44,000 Speaker 1: Decentralized Revolution, talking about how the world is changing through 494 00:26:44,080 --> 00:26:47,959 Speaker 1: bitcoin and decentralized technologies, focusing on politics, finance, and technology. 495 00:26:48,160 --> 00:26:50,000 Speaker 1: I got a lot more to cover when I get 496 00:26:50,040 --> 00:26:53,000 Speaker 1: back in a minute, so do not go away, all right, 497 00:26:53,040 --> 00:26:56,119 Speaker 1: Welcome back. You are listening to the Markma Show walking 498 00:26:56,119 --> 00:26:59,320 Speaker 1: you through the Decentralized Revolution as this world shifts, as 499 00:26:59,359 --> 00:27:03,159 Speaker 1: the pendulum swings from speak centralization and back into a 500 00:27:03,240 --> 00:27:06,879 Speaker 1: much fair, much more organic, and much more decentralized world 501 00:27:07,200 --> 00:27:09,800 Speaker 1: being spirit headed by bitcoin and decentralized technologies, looking at 502 00:27:09,800 --> 00:27:12,320 Speaker 1: through the lens of politics, finance, and technology. And we're 503 00:27:12,359 --> 00:27:16,959 Speaker 1: talking specifically about inflation and how your leaders who are 504 00:27:17,040 --> 00:27:21,280 Speaker 1: running supposed to be driving the bus have no clue 505 00:27:21,280 --> 00:27:24,280 Speaker 1: on what they're doing, per per their own words, that's 506 00:27:24,320 --> 00:27:26,800 Speaker 1: what they said and their actions prove that as well. 507 00:27:27,280 --> 00:27:30,080 Speaker 1: So their actions prove it. And they said it out loud. 508 00:27:30,160 --> 00:27:31,840 Speaker 1: I played you the clips. You heard it directly out 509 00:27:31,840 --> 00:27:34,440 Speaker 1: of their own mouth. You wouldn't believe it for me, um, 510 00:27:34,480 --> 00:27:37,240 Speaker 1: And they said it. And and as I said, either 511 00:27:37,280 --> 00:27:40,359 Speaker 1: they're completely incompetent, which their actions show and they admit, 512 00:27:41,080 --> 00:27:43,880 Speaker 1: or they really know what they're doing and they're purposely 513 00:27:43,880 --> 00:27:46,240 Speaker 1: doing a really bad job. Either way, in my opinion, 514 00:27:46,440 --> 00:27:51,360 Speaker 1: is grounds for dismissal. Grounds for dismissal. How do they 515 00:27:51,440 --> 00:27:55,639 Speaker 1: even have a job left? That's what I'd like to know. 516 00:27:56,359 --> 00:28:00,400 Speaker 1: Janet Yellen and her husband have a combined a net 517 00:28:00,400 --> 00:28:06,040 Speaker 1: worth over ten million dollars, despite every single one of 518 00:28:06,040 --> 00:28:09,919 Speaker 1: her public predictions being completely wrong, since he worked at 519 00:28:09,920 --> 00:28:12,919 Speaker 1: the San Francisco Federal Reserve Bank and was head of 520 00:28:12,920 --> 00:28:15,680 Speaker 1: the Federal Reserve and is now head of the Treasury. 521 00:28:16,560 --> 00:28:19,800 Speaker 1: She's been wrong every single time. And she's a public 522 00:28:19,800 --> 00:28:23,320 Speaker 1: servant and she's worth over ten million dollars, and she 523 00:28:23,359 --> 00:28:25,600 Speaker 1: continues to do a horrible job and she still has 524 00:28:25,600 --> 00:28:30,840 Speaker 1: her job. Why she's either completely inept or she's evil. 525 00:28:30,960 --> 00:28:33,800 Speaker 1: Either way, it's a nonstarter for me. Grounds for dismissal. 526 00:28:33,840 --> 00:28:36,119 Speaker 1: But back to this, last clip that I played of 527 00:28:36,200 --> 00:28:39,560 Speaker 1: the new White House Press Secretary Kareem Jean Pierre. She 528 00:28:39,640 --> 00:28:41,120 Speaker 1: came at it from a totally different angle, and this 529 00:28:41,160 --> 00:28:43,880 Speaker 1: is the important piece. They're starting to pivot, and you 530 00:28:43,880 --> 00:28:46,480 Speaker 1: need to pay attention to what they're telling you. So 531 00:28:46,560 --> 00:28:50,760 Speaker 1: she said in the clip that historically, the economy is 532 00:28:50,760 --> 00:28:53,400 Speaker 1: in a really good place, and we think that we 533 00:28:53,440 --> 00:28:56,800 Speaker 1: can just take on the inflation. We're good. We have 534 00:28:57,120 --> 00:28:59,520 Speaker 1: our economy so strong, we have so much money saved up. 535 00:28:59,560 --> 00:29:01,680 Speaker 1: Everybody's so rich they can just afford to pay ten 536 00:29:01,680 --> 00:29:03,760 Speaker 1: dollars a gallon for gas. It's not even gonna matter. 537 00:29:03,800 --> 00:29:05,640 Speaker 1: That's what she said. That was her words. I played 538 00:29:05,680 --> 00:29:07,760 Speaker 1: the clip so as I was looking at that, some 539 00:29:07,800 --> 00:29:10,280 Speaker 1: of the stats so really So let's say historically, so 540 00:29:10,440 --> 00:29:12,600 Speaker 1: UM and I talked about in the eighties, how Um, 541 00:29:12,720 --> 00:29:14,600 Speaker 1: we were able to raise rates to fight inflation. We 542 00:29:14,600 --> 00:29:16,040 Speaker 1: can't do the day because they we have thirty one 543 00:29:16,120 --> 00:29:21,080 Speaker 1: trillion dollars of debt. So historically that's really bad, really 544 00:29:21,080 --> 00:29:26,680 Speaker 1: really bad. Historically, UM, we have GDP Gross Economic Grocery 545 00:29:26,840 --> 00:29:30,280 Speaker 1: measure the health of the economy by how much it's growing. Remember, 546 00:29:31,160 --> 00:29:35,040 Speaker 1: money is not wealth. Goods and services are wealth. Right, 547 00:29:35,520 --> 00:29:37,200 Speaker 1: if we had money on a deserted island, that money 548 00:29:37,240 --> 00:29:38,440 Speaker 1: is no good to us unless we have goods and 549 00:29:38,480 --> 00:29:40,320 Speaker 1: services to buy. And so we want to look at 550 00:29:40,320 --> 00:29:43,040 Speaker 1: the GDP gross domestic product of a nation? Are they 551 00:29:43,040 --> 00:29:47,400 Speaker 1: producing goods and services? And then instead of the five 552 00:29:47,480 --> 00:29:52,680 Speaker 1: percent we were hoping for, it was only negative one 553 00:29:52,760 --> 00:29:56,600 Speaker 1: point four percent? Negative one point four percent. That doesn't 554 00:29:56,600 --> 00:29:59,400 Speaker 1: sound very good, does it? Does that sound historically healthy? 555 00:29:59,720 --> 00:30:01,440 Speaker 1: Histor work in a great way historically in a place 556 00:30:01,440 --> 00:30:04,640 Speaker 1: that we can take on. Uh, these crazy prices. Let's 557 00:30:04,680 --> 00:30:09,200 Speaker 1: see exports declined by five point nine exports. Remember, the 558 00:30:09,280 --> 00:30:11,960 Speaker 1: wealth is in goods and services. China has been able 559 00:30:12,000 --> 00:30:14,360 Speaker 1: to grow so wealthy because they manufacture most of the goods, 560 00:30:14,640 --> 00:30:17,640 Speaker 1: goods and services. Russia, despite all the sanctions that are 561 00:30:17,640 --> 00:30:19,960 Speaker 1: being done on it, are still is still doing amazingly 562 00:30:20,000 --> 00:30:23,880 Speaker 1: well because they export the export things that the world 563 00:30:23,920 --> 00:30:28,120 Speaker 1: actually wants and needs, things like energy, gas and oil, 564 00:30:28,280 --> 00:30:32,760 Speaker 1: things like food. What does the US have? We have services? 565 00:30:32,800 --> 00:30:35,600 Speaker 1: We have Facebook, we have Netflix, we have Google. Those 566 00:30:35,640 --> 00:30:39,000 Speaker 1: are good services. We have financial services, we export dollars. 567 00:30:39,160 --> 00:30:43,160 Speaker 1: What else do we manufacture? Now? In all fairness, the 568 00:30:43,200 --> 00:30:46,160 Speaker 1: United States does does does export a lot of oil 569 00:30:46,320 --> 00:30:49,000 Speaker 1: and energy as well, but our exports declined by five 570 00:30:49,720 --> 00:30:51,960 Speaker 1: Does that mean historically that we're doing great well because 571 00:30:51,960 --> 00:30:53,920 Speaker 1: we're down from where we were, so that that can't 572 00:30:53,920 --> 00:30:56,920 Speaker 1: be um the economy shrinking and inflation is running hot. 573 00:30:57,320 --> 00:30:59,720 Speaker 1: What that means when the inflict when the economy is 574 00:31:00,080 --> 00:31:03,760 Speaker 1: king producing less good than services, less wealth um and 575 00:31:03,880 --> 00:31:06,360 Speaker 1: inflation is running at the same time. So economy is 576 00:31:06,400 --> 00:31:08,160 Speaker 1: going down but prices are going at the same time. 577 00:31:08,480 --> 00:31:11,200 Speaker 1: That's a very bad predicament to be in. It's something 578 00:31:11,280 --> 00:31:14,080 Speaker 1: called stagflation. You might have been hearing about this quite 579 00:31:14,080 --> 00:31:17,680 Speaker 1: a bit lately, and it is not a good situation 580 00:31:17,720 --> 00:31:21,080 Speaker 1: to be in. And as I've been talking about inflation, 581 00:31:21,600 --> 00:31:26,640 Speaker 1: stagflation taking hold in the first time since the seventies. 582 00:31:27,200 --> 00:31:31,040 Speaker 1: Now why seventies is at well, not why that's what happened, 583 00:31:31,240 --> 00:31:33,600 Speaker 1: but there's some other similarities that happened in the seventies. 584 00:31:33,600 --> 00:31:38,080 Speaker 1: So UM energy analysts are predicting that we could have 585 00:31:38,400 --> 00:31:41,800 Speaker 1: fuel rationing in the United States this year and and 586 00:31:41,880 --> 00:31:45,800 Speaker 1: even worse, specifically diesel fuel rationing. Now, if diesel trucks 587 00:31:45,840 --> 00:31:47,800 Speaker 1: are ration on fuel and they don't have fuel to 588 00:31:47,840 --> 00:31:51,280 Speaker 1: drive around, that's a big problem. But that can't happen 589 00:31:51,320 --> 00:31:53,320 Speaker 1: in the United States, right, I mean, we're one of 590 00:31:53,320 --> 00:31:55,560 Speaker 1: the largest energy producers in the world. How could we 591 00:31:55,600 --> 00:31:58,560 Speaker 1: run out of gas. That's ridiculous. It could never happen. Well, 592 00:31:58,560 --> 00:32:02,280 Speaker 1: it did. It happened in the seventies. You'd only be 593 00:32:02,320 --> 00:32:03,720 Speaker 1: able to fill up your car on certain days of 594 00:32:03,720 --> 00:32:09,280 Speaker 1: the week. It did happen in the seventies. Now can 595 00:32:09,360 --> 00:32:13,400 Speaker 1: this be fixed? Oh, I mean it could. Um, you know, 596 00:32:13,440 --> 00:32:16,440 Speaker 1: we could see them try to pivot back. I mean, 597 00:32:16,480 --> 00:32:19,880 Speaker 1: basically they do the opposite of what they're doing. Right. 598 00:32:20,560 --> 00:32:23,600 Speaker 1: The problem is the Federal Reserve is designed for one thing, 599 00:32:23,920 --> 00:32:28,880 Speaker 1: and that's too create money. That's the whole purpose of 600 00:32:28,880 --> 00:32:32,760 Speaker 1: what they created for. Before the Federal Reserve, we had 601 00:32:33,840 --> 00:32:36,520 Speaker 1: the era of free banking and people could just stand 602 00:32:36,560 --> 00:32:38,120 Speaker 1: up their own banks and create their own currencies, and 603 00:32:38,120 --> 00:32:39,720 Speaker 1: they went they went bust all the time, and so 604 00:32:39,760 --> 00:32:41,880 Speaker 1: the Filer Reserve said, hey, we need to be let's 605 00:32:41,920 --> 00:32:44,080 Speaker 1: create the fire Reserve and will backstop all those banks 606 00:32:44,080 --> 00:32:46,760 Speaker 1: and if they go bankrupt, will create money so they 607 00:32:46,760 --> 00:32:48,880 Speaker 1: don't go bankrupt. So that was their whole purpose. And 608 00:32:48,920 --> 00:32:50,920 Speaker 1: as they create this money, they create these distortions in 609 00:32:50,960 --> 00:32:55,640 Speaker 1: the market, This demand poll situation. Um, and it creates 610 00:32:55,640 --> 00:32:58,560 Speaker 1: these distortions in the market. So how can they solve 611 00:32:58,560 --> 00:33:00,640 Speaker 1: this when all they have as a tool is a 612 00:33:00,640 --> 00:33:07,760 Speaker 1: money printer. It's kind of a problem. So um, right, 613 00:33:07,800 --> 00:33:10,080 Speaker 1: all they can do is expand the money supply. That's 614 00:33:10,080 --> 00:33:12,000 Speaker 1: all they can do now, and they want they want 615 00:33:12,080 --> 00:33:14,600 Speaker 1: us to believe that that's a good thing. Right, Like 616 00:33:14,960 --> 00:33:16,440 Speaker 1: a lot of people want to debate this all the time, 617 00:33:16,440 --> 00:33:18,200 Speaker 1: and you may want to debate this, like, we need 618 00:33:18,240 --> 00:33:21,000 Speaker 1: the money supply to expand, right, Something like bitcoin could 619 00:33:21,000 --> 00:33:23,560 Speaker 1: never work because it's a fixed supply. But we can't 620 00:33:23,560 --> 00:33:26,120 Speaker 1: have a growing economy unless the money supply expans. We 621 00:33:26,160 --> 00:33:28,760 Speaker 1: have to have the money spy explaining right, well, that's 622 00:33:28,760 --> 00:33:30,600 Speaker 1: what your textbooks have been telling you first a long time. 623 00:33:30,640 --> 00:33:32,920 Speaker 1: Why because that's the policy of the Federal Reserve. Once 624 00:33:32,920 --> 00:33:34,880 Speaker 1: they want to create money, they can't teach you that 625 00:33:34,960 --> 00:33:37,120 Speaker 1: creating money is bad. Of course, they got to teach 626 00:33:37,120 --> 00:33:39,080 Speaker 1: you that you got to expand the money supply. It's 627 00:33:39,120 --> 00:33:40,720 Speaker 1: not the way it works. We can do a whole 628 00:33:40,720 --> 00:33:43,040 Speaker 1: another show on that. But basically, think about this. Money 629 00:33:43,120 --> 00:33:45,560 Speaker 1: is not wealth. Wealth is goods and services. So you 630 00:33:45,600 --> 00:33:47,200 Speaker 1: take all the wealth, all the goods and services of 631 00:33:47,240 --> 00:33:49,600 Speaker 1: the world and divided by the money. That's that's how 632 00:33:49,600 --> 00:33:52,200 Speaker 1: it works. The money buys the wealth. If you increase 633 00:33:52,240 --> 00:33:54,200 Speaker 1: the money supply, that's going to push the costs of 634 00:33:54,200 --> 00:33:57,840 Speaker 1: the supplies up. So either the value accruising the money 635 00:33:57,920 --> 00:34:00,640 Speaker 1: or the value accruising the wealth. So what does that 636 00:34:00,680 --> 00:34:02,960 Speaker 1: mean if the if if the money, if I value 637 00:34:02,960 --> 00:34:05,600 Speaker 1: accrued in the money, that means that money buys you 638 00:34:05,680 --> 00:34:07,720 Speaker 1: more goods in service in the future. Life would be 639 00:34:07,720 --> 00:34:11,040 Speaker 1: getting easier for you, all right, But they lie to you, 640 00:34:11,120 --> 00:34:13,280 Speaker 1: right We need the money spy the experience. And doesn't 641 00:34:13,239 --> 00:34:15,600 Speaker 1: they feel good when your asset prices go up? Don't 642 00:34:15,600 --> 00:34:17,879 Speaker 1: you want your homegoing up? Don't you want your your 643 00:34:17,880 --> 00:34:20,560 Speaker 1: stocks going up? And so we all cheer for inflation 644 00:34:20,600 --> 00:34:23,880 Speaker 1: because we want those things to happen. All right, But 645 00:34:24,000 --> 00:34:26,360 Speaker 1: here's back to the end of FED. FED Reserve Chairman 646 00:34:26,480 --> 00:34:29,640 Speaker 1: Jerome Powell Warren Thursday that getting inflation under control could 647 00:34:29,640 --> 00:34:33,319 Speaker 1: cause some economic pain. Quote. So a soft landing is 648 00:34:33,400 --> 00:34:36,120 Speaker 1: really just getting back to two percent inflation while keeping 649 00:34:36,120 --> 00:34:39,440 Speaker 1: the labor market strong, and it's quite challenging to accomplish 650 00:34:39,480 --> 00:34:42,440 Speaker 1: that right now. End quote. So what he's saying is 651 00:34:42,480 --> 00:34:46,320 Speaker 1: that to get inflation under control, it was gonna cause 652 00:34:46,440 --> 00:34:49,200 Speaker 1: economic pain. So let's come back all the way full 653 00:34:49,239 --> 00:34:54,399 Speaker 1: circle to where we started. Demand push. So, um, there's 654 00:34:54,400 --> 00:34:57,919 Speaker 1: two ways to solve this energy and food inflation. If 655 00:34:57,960 --> 00:35:00,480 Speaker 1: we need to bring energy prices down, in food prices down, 656 00:35:00,520 --> 00:35:03,279 Speaker 1: what do we need? We need more supply, simple right 657 00:35:04,480 --> 00:35:08,759 Speaker 1: or or the scary, darker, sinister side. As we could 658 00:35:09,000 --> 00:35:12,040 Speaker 1: lower demand, we could lower demand. So if we can't 659 00:35:12,040 --> 00:35:14,800 Speaker 1: bring on the Federal reserve, obviously can't create more energy 660 00:35:14,880 --> 00:35:17,120 Speaker 1: or food, but they could lower the demand by taking 661 00:35:17,120 --> 00:35:19,120 Speaker 1: the money away. If they take the money away, if 662 00:35:19,120 --> 00:35:20,920 Speaker 1: we push gas up to twenty five bucks a gallon, 663 00:35:21,200 --> 00:35:23,160 Speaker 1: how many gallons of gas are you gonna be buying 664 00:35:23,200 --> 00:35:26,400 Speaker 1: every day? Not very many. And so that's the demand 665 00:35:26,440 --> 00:35:28,680 Speaker 1: push the cost poll. They can't affect the cost the 666 00:35:29,000 --> 00:35:32,239 Speaker 1: cost poll. I'm sorry, the cost push because energy is 667 00:35:32,280 --> 00:35:33,880 Speaker 1: what it is. They can't print that, they can't print food. 668 00:35:34,239 --> 00:35:37,319 Speaker 1: But they can affect the demand side by taking the 669 00:35:37,320 --> 00:35:40,520 Speaker 1: money out and crashing the economy, which is exactly what's happening. 670 00:35:40,560 --> 00:35:44,800 Speaker 1: He says right here. It could cause some economic pain. 671 00:35:45,320 --> 00:35:49,080 Speaker 1: End quote. So hopefully you understand what is going on 672 00:35:49,360 --> 00:35:51,000 Speaker 1: the way that we protect ourselves by getting out of 673 00:35:51,040 --> 00:35:54,400 Speaker 1: that financial system altogether and putting our money into things 674 00:35:54,440 --> 00:35:58,120 Speaker 1: that can hold up against this inflation that we're facing. 675 00:35:58,760 --> 00:36:01,320 Speaker 1: You're listening to the markmas Show. We're talking about um 676 00:36:01,360 --> 00:36:04,160 Speaker 1: the decentralized Revolution, talking about as the pendulum swinging from 677 00:36:04,160 --> 00:36:06,879 Speaker 1: a centralized system to a decentralized system, of course, being 678 00:36:06,880 --> 00:36:09,560 Speaker 1: spirit headed by bitcoin and decentralized technology, looking at through 679 00:36:09,560 --> 00:36:14,080 Speaker 1: the lens of politics, finance, and technology. If you're not 680 00:36:14,080 --> 00:36:16,120 Speaker 1: following me on Twitter, you should at one Mark moss 681 00:36:16,120 --> 00:36:17,759 Speaker 1: I post a lot of this as I'm digging through 682 00:36:17,760 --> 00:36:19,920 Speaker 1: this on a regular basis, So send me a message there, 683 00:36:19,960 --> 00:36:21,440 Speaker 1: let me know you hear me. And that's what I 684 00:36:21,440 --> 00:36:22,920 Speaker 1: got for you today. All right, thanks for listening.