1 00:00:00,120 --> 00:00:03,880 Speaker 1: Here comes the battle over CBDCs and the Federal Reserve. 2 00:00:04,280 --> 00:00:08,200 Speaker 1: Now today you're hearing about central bank digital currencies everywhere. 3 00:00:08,200 --> 00:00:10,239 Speaker 1: It's all over the New cycle, and of course news 4 00:00:10,280 --> 00:00:12,600 Speaker 1: that the Federal Reserve wants to roll out their own 5 00:00:12,640 --> 00:00:16,000 Speaker 1: central bank digital currency. It's such a hot topic that 6 00:00:16,120 --> 00:00:18,000 Speaker 1: it seems like it might be one of the main 7 00:00:18,160 --> 00:00:22,079 Speaker 1: talking points between presidential candidates in the next election. We 8 00:00:22,160 --> 00:00:25,920 Speaker 1: see lawmakers passing bills to prevent central big digital currencies 9 00:00:25,920 --> 00:00:26,520 Speaker 1: from happening. 10 00:00:27,040 --> 00:00:29,840 Speaker 2: But do they really have the power to do that? 11 00:00:29,880 --> 00:00:32,240 Speaker 1: And that is the topic of this conversation I'm having 12 00:00:32,560 --> 00:00:35,440 Speaker 1: with presidential candidate Vivic Ramaswami. 13 00:00:35,720 --> 00:00:37,280 Speaker 2: We're going to dig into. 14 00:00:37,200 --> 00:00:42,040 Speaker 1: The censorship industrial complex and if he could be elected president, 15 00:00:42,120 --> 00:00:45,240 Speaker 1: what would he do about this. Now, Vivic is a 16 00:00:45,280 --> 00:00:49,199 Speaker 1: young candidate, but I'm hopeful that he might have a chance. 17 00:00:48,960 --> 00:00:49,519 Speaker 2: At doing this. 18 00:00:49,720 --> 00:00:53,320 Speaker 1: He's bringing a new sense of urgency. He is crazy smart, 19 00:00:53,560 --> 00:00:56,560 Speaker 1: and once you listen to this conversation you might agree. 20 00:00:56,560 --> 00:00:58,120 Speaker 1: But I'd like to hear We're going to talk about 21 00:00:58,120 --> 00:01:02,040 Speaker 1: the censorship industrial complex, talk about the censorship of not 22 00:01:02,240 --> 00:01:05,560 Speaker 1: just speech but also money through central bank digital currencies. 23 00:01:05,800 --> 00:01:08,720 Speaker 1: How he thinks the power of the president could control, 24 00:01:09,000 --> 00:01:12,520 Speaker 1: potentially stop central bank digital currencies, how the power of 25 00:01:12,520 --> 00:01:15,600 Speaker 1: the president could stop and limit the surveillance of the state, 26 00:01:15,840 --> 00:01:19,280 Speaker 1: what he would do to overhaul social media. We're going 27 00:01:19,319 --> 00:01:22,080 Speaker 1: to talk about FED policy, what he could do to 28 00:01:22,400 --> 00:01:26,840 Speaker 1: manage inflation, the debt ceiling, his plan to bring economic 29 00:01:26,880 --> 00:01:29,480 Speaker 1: prosperity back to the United States. We're going to find 30 00:01:29,520 --> 00:01:33,000 Speaker 1: out what his viewpoint is on bitcoin and cryptocurrencies, and 31 00:01:33,280 --> 00:01:36,200 Speaker 1: so much more. It's an amazing interview, a very short one, 32 00:01:36,240 --> 00:01:38,880 Speaker 1: a fast one, because he is crazy smart and articulate. 33 00:01:38,959 --> 00:01:40,760 Speaker 1: So let's go ahead and just jump right in with Vivic. 34 00:01:41,600 --> 00:01:44,520 Speaker 1: All right, Vivic, thanks thanks for taking the time from 35 00:01:44,560 --> 00:01:46,800 Speaker 1: your campaign trail to come talk to me. I know 36 00:01:46,840 --> 00:01:50,120 Speaker 1: you've been super busy. I see you everywhere. You're definitely 37 00:01:50,120 --> 00:01:51,920 Speaker 1: getting the reps in and I love what you're saying. 38 00:01:51,960 --> 00:01:54,040 Speaker 1: You're hitting a bunch of data points. So let's just 39 00:01:54,080 --> 00:01:55,520 Speaker 1: go ahead and just jump right into some of the 40 00:01:55,640 --> 00:01:57,280 Speaker 1: questions that I kind of have and some of the 41 00:01:57,280 --> 00:01:59,200 Speaker 1: things that I think I'm kind of concerned with and 42 00:01:59,280 --> 00:02:02,800 Speaker 1: my audience concerned with, and so the big topic that 43 00:02:02,880 --> 00:02:05,080 Speaker 1: I see and I actually recorded an episode of my 44 00:02:05,160 --> 00:02:07,120 Speaker 1: radio show the other day saying that, I think this 45 00:02:07,160 --> 00:02:10,640 Speaker 1: is the single most important issue of our generation and 46 00:02:10,680 --> 00:02:16,760 Speaker 1: maybe multiple generations, and that is censorship. And we're being 47 00:02:16,800 --> 00:02:21,160 Speaker 1: censored in a bunch of ways, from communication, speech, our money, 48 00:02:21,280 --> 00:02:23,360 Speaker 1: all different types of things. So I want to start 49 00:02:23,360 --> 00:02:25,919 Speaker 1: with that, the censorship industrial complex. 50 00:02:26,520 --> 00:02:29,200 Speaker 2: Amen, it's a big topic. 51 00:02:29,240 --> 00:02:30,960 Speaker 1: I think it's one of the most important topics. Like 52 00:02:31,000 --> 00:02:34,760 Speaker 1: I said, it seems like we went from enlightened liberalism 53 00:02:34,840 --> 00:02:41,000 Speaker 1: to now woke totalitarianism. Speech, like I said, financial transactions, movement. 54 00:02:41,040 --> 00:02:44,040 Speaker 1: So let's just start with the surveillance state that we 55 00:02:44,160 --> 00:02:46,519 Speaker 1: have and what you're thinking about that. We saw the 56 00:02:46,560 --> 00:02:52,639 Speaker 1: Biden administration put together this DHS Disinformation Governance Board. Obama 57 00:02:53,120 --> 00:02:55,280 Speaker 1: has been on board, you know, in Stanford, calling for 58 00:02:55,320 --> 00:02:59,320 Speaker 1: a regulation of online speech. Now there's this restrict AC 59 00:02:59,639 --> 00:03:02,600 Speaker 1: that's been put forth. I think twenty five high ranking 60 00:03:02,760 --> 00:03:07,000 Speaker 1: Republicans and Democrats on this bill, which to me seems 61 00:03:07,040 --> 00:03:11,000 Speaker 1: like the single most dangerous piece of legislation period. What 62 00:03:11,040 --> 00:03:13,040 Speaker 1: are your thoughts on that? What do you think about 63 00:03:13,040 --> 00:03:13,840 Speaker 1: that moving forward? 64 00:03:14,840 --> 00:03:17,160 Speaker 3: Yeah, I mean, I mean, obviously very big topic. 65 00:03:17,480 --> 00:03:23,840 Speaker 4: I think that the number one unique threat to free 66 00:03:23,919 --> 00:03:27,600 Speaker 4: expression in the twenty first century, particularly today is not 67 00:03:27,880 --> 00:03:30,880 Speaker 4: just government directly silencing speech. 68 00:03:31,240 --> 00:03:32,120 Speaker 3: Through the front door. 69 00:03:32,840 --> 00:03:35,080 Speaker 4: I think the real threat is now when the government 70 00:03:35,200 --> 00:03:40,360 Speaker 4: is deputizing private mechanisms to action, private actors to do 71 00:03:40,440 --> 00:03:44,080 Speaker 4: through the back door what government never could get done 72 00:03:44,160 --> 00:03:47,000 Speaker 4: through the front door under the constitution. So it says, oh, 73 00:03:47,000 --> 00:03:50,400 Speaker 4: we're the government, we can't censor your speech. But guess 74 00:03:50,440 --> 00:03:54,080 Speaker 4: what they'll do now, They'll threaten internet companies. We can 75 00:03:54,120 --> 00:03:56,600 Speaker 4: go through the banking version of this in the ESG movement, 76 00:03:56,680 --> 00:03:59,440 Speaker 4: but let's just stick to the social media version of 77 00:03:59,480 --> 00:04:03,280 Speaker 4: this for now. We'll just threaten a private company to 78 00:04:03,280 --> 00:04:05,680 Speaker 4: say that we wanted to take down certain forms of 79 00:04:05,720 --> 00:04:10,280 Speaker 4: disfavored speech or misinformation or hate speech and so on, 80 00:04:11,160 --> 00:04:13,240 Speaker 4: to implement through the back door what it could not 81 00:04:13,360 --> 00:04:16,680 Speaker 4: get done through the front door under the constitution. That's 82 00:04:16,720 --> 00:04:20,920 Speaker 4: state action in disguise. It is lurking state action. That's 83 00:04:20,960 --> 00:04:23,120 Speaker 4: actually the real threat that we face. And then they 84 00:04:23,200 --> 00:04:25,160 Speaker 4: go further. They give them an attaboy on the back. 85 00:04:25,200 --> 00:04:27,560 Speaker 4: They give them a little bit of a special wrapper 86 00:04:27,600 --> 00:04:29,960 Speaker 4: in the form of for example, social media companies, Internet 87 00:04:30,000 --> 00:04:34,440 Speaker 4: companies getting a special form of federally endowed immunity Section 88 00:04:34,520 --> 00:04:37,320 Speaker 4: two thirty C two protection that gives them a special 89 00:04:37,320 --> 00:04:39,640 Speaker 4: cloak of immunity. So one of the ways I like 90 00:04:39,680 --> 00:04:42,600 Speaker 4: to explain this to people is people get lost in 91 00:04:42,640 --> 00:04:45,760 Speaker 4: the present right and then they take their partisan stance, 92 00:04:45,760 --> 00:04:49,360 Speaker 4: and a very have a lot of difficulty separating themselves 93 00:04:49,400 --> 00:04:55,760 Speaker 4: from their partisan perspective. History offers some interesting lessons where when, say, 94 00:04:56,000 --> 00:05:00,159 Speaker 4: a bookstore owner in a case called Bantam Books to 95 00:05:00,160 --> 00:05:02,240 Speaker 4: sell a book but a local prosecutor didn't like the book, 96 00:05:02,240 --> 00:05:04,400 Speaker 4: what did the prosecutor say? He said, I'm going to 97 00:05:04,480 --> 00:05:06,720 Speaker 4: prosecute you unless you take down that book. 98 00:05:07,160 --> 00:05:07,280 Speaker 1: Now. 99 00:05:07,400 --> 00:05:09,480 Speaker 3: Customer who wanted to buy that book. 100 00:05:09,240 --> 00:05:11,960 Speaker 4: Later sued the bookstore owner and said, you took down 101 00:05:12,000 --> 00:05:14,160 Speaker 4: this book I wanted to buy. Normally, that would have 102 00:05:14,160 --> 00:05:16,719 Speaker 4: been laughed off the stage because that's just a private 103 00:05:16,720 --> 00:05:19,479 Speaker 4: bookstore owner deciding what he does and doesn't want to sell. 104 00:05:19,480 --> 00:05:22,240 Speaker 4: But the Supreme Court said, not so fast. That was 105 00:05:22,279 --> 00:05:25,080 Speaker 4: actually state action in disguise, because it was the government 106 00:05:25,560 --> 00:05:27,680 Speaker 4: censoring that customer for being able to buy the book, 107 00:05:28,040 --> 00:05:31,080 Speaker 4: not the bookstore owner doing it directly. If it's state 108 00:05:31,120 --> 00:05:34,680 Speaker 4: action in disguise, the Constitution still applies, and there's an 109 00:05:34,720 --> 00:05:37,720 Speaker 4: analogy to the immunity that government uses to coax these 110 00:05:38,160 --> 00:05:40,840 Speaker 4: private companies into taking action that the otherwise wouldn't have 111 00:05:40,920 --> 00:05:43,760 Speaker 4: taken to censor content. Except this related to the war 112 00:05:43,800 --> 00:05:46,560 Speaker 4: on drugs. When the government wanted to fight the war 113 00:05:46,600 --> 00:05:49,640 Speaker 4: on drugs, they would rather have searched and seized, you know, 114 00:05:49,720 --> 00:05:52,200 Speaker 4: drugs or potential drugs off of every person they could find. 115 00:05:52,600 --> 00:05:54,720 Speaker 4: But this pesky thing called the Fourth Amendment gets in 116 00:05:54,760 --> 00:05:58,160 Speaker 4: the way. So they passed a law that gave railroads 117 00:05:58,279 --> 00:06:02,200 Speaker 4: a special form of immunity that immunize those railroads from 118 00:06:02,279 --> 00:06:08,440 Speaker 4: being sued by passengers if those passengers were searched by 119 00:06:08,480 --> 00:06:10,920 Speaker 4: the railroad, even against their consent. They said, oh, that's 120 00:06:10,960 --> 00:06:13,000 Speaker 4: just a private company. Again, the Supreme Court said, not 121 00:06:13,040 --> 00:06:17,640 Speaker 4: so fast. If they're inducing a private company, even a 122 00:06:17,720 --> 00:06:20,640 Speaker 4: railroad company, through immunity, to do what the government couldn't 123 00:06:20,680 --> 00:06:24,200 Speaker 4: directly do to accomplish a government objective, that was still 124 00:06:24,240 --> 00:06:27,839 Speaker 4: a situation where the private actor's conduct, the railroad company 125 00:06:27,880 --> 00:06:30,240 Speaker 4: in this case, was subject to the constraints of the 126 00:06:30,240 --> 00:06:33,679 Speaker 4: Fourth Amendment. So I bring that back because the threats 127 00:06:33,680 --> 00:06:36,800 Speaker 4: to censorship today are mostly implemented not directly through the 128 00:06:36,800 --> 00:06:38,640 Speaker 4: front door, shown up at your doorstep with the police 129 00:06:38,680 --> 00:06:41,080 Speaker 4: saying you can't say something. That's what allows them to 130 00:06:41,120 --> 00:06:43,159 Speaker 4: get away with saying that. Oh yes, Joe Biden speaks 131 00:06:43,200 --> 00:06:45,000 Speaker 4: at the White House correspondence to dinner a week and 132 00:06:45,080 --> 00:06:47,640 Speaker 4: a half ago or whatever, and I was there waxing 133 00:06:47,680 --> 00:06:50,480 Speaker 4: eloquent about protecting the First Amendment. They're able to get 134 00:06:50,480 --> 00:06:53,119 Speaker 4: away with the Fars because they're just doing their dirty 135 00:06:53,120 --> 00:06:54,039 Speaker 4: work through the back door. 136 00:06:54,080 --> 00:06:54,520 Speaker 3: Instead. 137 00:06:55,120 --> 00:06:56,799 Speaker 4: Part of what I'm looking to do as US President 138 00:06:56,839 --> 00:07:01,520 Speaker 4: is to disabuse ourselves of that farce and actually recognize 139 00:07:01,560 --> 00:07:04,279 Speaker 4: that state action in disguise is still state action, and 140 00:07:04,320 --> 00:07:07,280 Speaker 4: that means the Constitution still applies. So, you know, I 141 00:07:07,320 --> 00:07:09,680 Speaker 4: know we got pretty thick there pretty quickly, but you know, 142 00:07:09,880 --> 00:07:11,920 Speaker 4: time is scarce, and I wanted to get into the substance. 143 00:07:12,200 --> 00:07:13,040 Speaker 4: That's how I look at it. 144 00:07:13,720 --> 00:07:16,480 Speaker 1: Yeah, I mean, it's always that pesky document called the 145 00:07:16,480 --> 00:07:19,280 Speaker 1: Constitution that seems to get in the way. As you said, 146 00:07:19,640 --> 00:07:22,720 Speaker 1: I like that reference, you know, in regards to that specifically, 147 00:07:22,720 --> 00:07:24,760 Speaker 1: we saw through the Twitter files it got blown wide 148 00:07:24,800 --> 00:07:27,680 Speaker 1: open that the government is working directly with these corporations 149 00:07:27,680 --> 00:07:29,520 Speaker 1: to do just kind of what you're saying. And so 150 00:07:29,600 --> 00:07:31,880 Speaker 1: you think it's the two thirty that if you were 151 00:07:31,920 --> 00:07:34,520 Speaker 1: able to repeal that take away those protections, then that 152 00:07:34,520 --> 00:07:37,160 Speaker 1: would help protect the platforms and being able to give 153 00:07:37,160 --> 00:07:39,360 Speaker 1: that privacy back, or not the privacy, but the ability 154 00:07:39,400 --> 00:07:40,360 Speaker 1: to kind of freely speak. 155 00:07:40,680 --> 00:07:41,160 Speaker 3: Yeah, I would. 156 00:07:41,160 --> 00:07:43,120 Speaker 4: I would make section So there's two parts of section 157 00:07:43,160 --> 00:07:45,560 Speaker 4: through two thirty. There's section two thirty C one, which 158 00:07:45,600 --> 00:07:48,120 Speaker 4: is not relevant to this discussion. That's the part that 159 00:07:48,160 --> 00:07:52,440 Speaker 4: says these platforms aren't liable for what individual users post. 160 00:07:52,480 --> 00:07:53,520 Speaker 3: Put that to one side. 161 00:07:53,960 --> 00:07:56,600 Speaker 4: Section two thirty c two says that even if there 162 00:07:56,640 --> 00:07:59,280 Speaker 4: are states, and there are states in this country that 163 00:07:59,360 --> 00:08:03,200 Speaker 4: prevent you from discriminating based on political expression or whatever else, 164 00:08:04,000 --> 00:08:06,960 Speaker 4: that nonetheless the company can't be sued under those state 165 00:08:07,080 --> 00:08:10,840 Speaker 4: laws because Section two thirty C two gives them a 166 00:08:10,880 --> 00:08:14,560 Speaker 4: special blanket of immunity to the company. Well, what I 167 00:08:14,560 --> 00:08:17,400 Speaker 4: say is, let's make that an opt in statue. If 168 00:08:17,440 --> 00:08:19,560 Speaker 4: you want that special form of immunity, you can have it, 169 00:08:20,280 --> 00:08:22,600 Speaker 4: but then you're subject to the same constraint as the 170 00:08:22,600 --> 00:08:26,240 Speaker 4: federal government itself, which is the First Amendment. You can't 171 00:08:26,280 --> 00:08:28,320 Speaker 4: have both ways to say, you get the special governmental 172 00:08:28,320 --> 00:08:30,600 Speaker 4: form of community without being subject to the First Amendment 173 00:08:31,080 --> 00:08:33,319 Speaker 4: in the standards of what you do and don't take down. 174 00:08:33,760 --> 00:08:34,760 Speaker 3: So that's where I land on. 175 00:08:34,840 --> 00:08:37,960 Speaker 4: That is, if something is truly not protected speech like 176 00:08:38,120 --> 00:08:42,520 Speaker 4: spam or hardcore pornography, fine, you could take it down. 177 00:08:42,840 --> 00:08:44,560 Speaker 4: That's what section two thirty c two allows you to 178 00:08:44,559 --> 00:08:47,160 Speaker 4: do without being sued. But if it's protected by the 179 00:08:47,200 --> 00:08:50,760 Speaker 4: First Amendment, if it's political expression, then you can't take 180 00:08:50,800 --> 00:08:53,320 Speaker 4: it down and not expect to be sued for it 181 00:08:53,440 --> 00:08:55,720 Speaker 4: under states that protect that form of expression. 182 00:08:56,520 --> 00:08:59,719 Speaker 1: Yeah, yeah, I mean it gets tricky when you say, well, 183 00:08:59,720 --> 00:09:01,680 Speaker 1: what is protected and what is and so now they're saying, 184 00:09:01,720 --> 00:09:04,120 Speaker 1: first it was a threat to the democracy or a 185 00:09:04,120 --> 00:09:06,520 Speaker 1: threat to national security, and now it's a threat to people, 186 00:09:06,679 --> 00:09:08,640 Speaker 1: you know, hate speech and things like that, and so 187 00:09:08,720 --> 00:09:11,640 Speaker 1: who calls that line on what hate speech is? 188 00:09:11,880 --> 00:09:13,880 Speaker 4: We have good doctrine on this, We have good doctrine 189 00:09:13,920 --> 00:09:15,280 Speaker 4: on this. I think that I do hear that. 190 00:09:15,240 --> 00:09:16,120 Speaker 3: Response a lot. 191 00:09:16,640 --> 00:09:19,720 Speaker 4: The expression of an opinion is always protected under the 192 00:09:19,720 --> 00:09:23,080 Speaker 4: First Amendment. That's the hard I mean, you can't you 193 00:09:23,080 --> 00:09:25,800 Speaker 4: can't say something fraud you know, there's fraud laws that 194 00:09:25,800 --> 00:09:28,520 Speaker 4: prevent you from uttering words that are false for commercial gain. 195 00:09:28,559 --> 00:09:31,520 Speaker 4: There's all kinds of speech that is not constitutionally protected speech. 196 00:09:31,559 --> 00:09:34,960 Speaker 4: But the shorthand version is if you're expressing an opinion 197 00:09:35,559 --> 00:09:38,040 Speaker 4: it is protected. That means hate speech goes away as 198 00:09:38,040 --> 00:09:38,600 Speaker 4: a category. 199 00:09:39,040 --> 00:09:41,680 Speaker 1: I like that, So on the next form of censorship. 200 00:09:41,720 --> 00:09:44,679 Speaker 1: And you know, I think that money is communication and 201 00:09:44,800 --> 00:09:47,679 Speaker 1: expresses my communication of value for that good or service 202 00:09:47,720 --> 00:09:49,800 Speaker 1: that I want. And I believe that all freedom comes 203 00:09:49,840 --> 00:09:53,040 Speaker 1: from the freedom to transact. So even though the Constitution 204 00:09:53,120 --> 00:09:55,560 Speaker 1: guarantees me a freedom of assembly, if I can't pay 205 00:09:55,559 --> 00:09:57,880 Speaker 1: to put gas in my vehicle, I can't go assemble. 206 00:09:58,200 --> 00:09:59,600 Speaker 1: If I can't buy food when I'm there, I can't 207 00:09:59,600 --> 00:10:03,720 Speaker 1: assemble speech, etc. And so then another form of communication 208 00:10:03,760 --> 00:10:07,360 Speaker 1: would become censorship of financial transactions. We're already seen a 209 00:10:07,360 --> 00:10:10,640 Speaker 1: lot of that in the banking sector today through types 210 00:10:10,640 --> 00:10:13,760 Speaker 1: of capital controls. I know, trying to send wire transfers 211 00:10:13,800 --> 00:10:15,800 Speaker 1: over six figures gets a lot of problems for. 212 00:10:15,880 --> 00:10:17,400 Speaker 2: Me all the time already. 213 00:10:17,800 --> 00:10:20,280 Speaker 1: And now we're starting to see this get really ramped 214 00:10:20,320 --> 00:10:23,280 Speaker 1: up with central bank digital currencies, and this seems to 215 00:10:23,320 --> 00:10:26,280 Speaker 1: be potentially a topic that's going to be on this 216 00:10:26,360 --> 00:10:31,000 Speaker 1: next platform. We see lawmakers like Ron DeSantis, Ted Cruz, 217 00:10:31,280 --> 00:10:35,520 Speaker 1: Tom Emmer, etc. Kind of aggressively trying to prohibit these 218 00:10:35,559 --> 00:10:37,560 Speaker 1: federal CBDCs from coming in. 219 00:10:38,320 --> 00:10:40,400 Speaker 2: I guess what's your stance on that? 220 00:10:41,520 --> 00:10:44,240 Speaker 4: So I'm dead set against cbdc's. I was talking about 221 00:10:44,240 --> 00:10:47,040 Speaker 4: this long before it was popular to be a talking 222 00:10:47,080 --> 00:10:50,720 Speaker 4: point in political circles. You know, as much as I 223 00:10:50,840 --> 00:10:53,440 Speaker 4: respect a governor who wants to take action against this, 224 00:10:53,440 --> 00:10:56,840 Speaker 4: this is you know, fiat currency is a federal issue, right, 225 00:10:56,920 --> 00:11:01,120 Speaker 4: so I think anything short of the right actor, which 226 00:11:01,160 --> 00:11:03,120 Speaker 4: is to say, the federal government putting a stop to it, 227 00:11:03,640 --> 00:11:06,320 Speaker 4: you're not going to be able to do anything other 228 00:11:06,360 --> 00:11:09,320 Speaker 4: than make a political point by trying to take this 229 00:11:09,360 --> 00:11:11,400 Speaker 4: on at the state level. Though I don't blame someone 230 00:11:11,400 --> 00:11:13,760 Speaker 4: for trying. It needs to be done at the federal level, 231 00:11:13,760 --> 00:11:17,200 Speaker 4: because the federal government is where backstops our currency. So 232 00:11:17,320 --> 00:11:20,480 Speaker 4: converting that currency into a digital currency, I think is 233 00:11:20,520 --> 00:11:24,600 Speaker 4: something that is downright dangerous. Why is it dangerous? It 234 00:11:24,640 --> 00:11:29,079 Speaker 4: allows the government to implement a social credit scoring system 235 00:11:29,480 --> 00:11:33,360 Speaker 4: into how they actually erase value from your own bank accounts. Now, 236 00:11:33,400 --> 00:11:34,840 Speaker 4: this is not made up stuff. I mean, look at 237 00:11:34,840 --> 00:11:38,360 Speaker 4: those truckers in Canada that participated in a protest last 238 00:11:38,440 --> 00:11:41,959 Speaker 4: year expressing an opinion they had their bank accounts or 239 00:11:42,000 --> 00:11:45,960 Speaker 4: credit cards. Ultimately credit deny to them losing money. Government 240 00:11:46,040 --> 00:11:48,800 Speaker 4: is weaponizing the financial system to implement what it couldn't 241 00:11:49,240 --> 00:11:53,120 Speaker 4: necessarily do through the usual mechanisms. The usual argument that 242 00:11:53,160 --> 00:11:55,360 Speaker 4: we hear in this country for central bank digital currencies 243 00:11:55,440 --> 00:11:57,520 Speaker 4: is that China's doing it and that we have to 244 00:11:57,600 --> 00:12:00,280 Speaker 4: keep up with the Joneses, or as I sometimes joker 245 00:12:00,320 --> 00:12:03,280 Speaker 4: and keep up with the Jinpings. I think that that 246 00:12:03,440 --> 00:12:08,120 Speaker 4: doesn't make sense because China's reason for adopting it is 247 00:12:08,200 --> 00:12:12,640 Speaker 4: exactly what should concern us, which is power, dominion, control 248 00:12:12,679 --> 00:12:16,199 Speaker 4: and punishment. It is the ability to punish individual citizens 249 00:12:16,240 --> 00:12:19,040 Speaker 4: for what they say by using their wallets as the 250 00:12:19,080 --> 00:12:21,960 Speaker 4: way to get them to conform. That should cause us 251 00:12:22,000 --> 00:12:23,360 Speaker 4: to run in the other direction, not to say that 252 00:12:23,360 --> 00:12:25,960 Speaker 4: we want to copy China and to the people who 253 00:12:26,000 --> 00:12:27,600 Speaker 4: will say, well, that's going to make the dollar less 254 00:12:27,640 --> 00:12:30,679 Speaker 4: competitive or less strong relative to you on if we're 255 00:12:30,679 --> 00:12:33,920 Speaker 4: not as technologically advanced and having a digital option, I 256 00:12:34,040 --> 00:12:36,199 Speaker 4: argue it the other way. I say, the dollars should 257 00:12:36,200 --> 00:12:40,320 Speaker 4: be stronger if it can't be confiscated at the whim 258 00:12:40,520 --> 00:12:43,280 Speaker 4: of a partisan government that's in power. That's exactly what 259 00:12:43,400 --> 00:12:46,880 Speaker 4: CBDCs are designed to do. And so that's why I 260 00:12:47,000 --> 00:12:50,320 Speaker 4: stand unapologetically and firmly against it, and I think we 261 00:12:50,440 --> 00:12:53,079 Speaker 4: require a US president in this country that actually understands 262 00:12:53,080 --> 00:12:56,880 Speaker 4: those issues deeply to be able to actually guard and 263 00:12:56,920 --> 00:12:59,960 Speaker 4: hold the line against that excess and that over reach. 264 00:13:00,120 --> 00:13:01,520 Speaker 2: H Yeah. 265 00:13:01,559 --> 00:13:06,000 Speaker 1: Now, you know, with President Trump, we saw really increase 266 00:13:06,160 --> 00:13:09,600 Speaker 1: in kind of this rhetoric against the Federal Reserve and 267 00:13:09,640 --> 00:13:12,000 Speaker 1: sort of kind of pressure in the Federal Reserve to 268 00:13:12,040 --> 00:13:14,440 Speaker 1: ease policies for the economy and things like that. And 269 00:13:14,480 --> 00:13:18,839 Speaker 1: so the Federal Reserve is this quasi semi private institution 270 00:13:19,080 --> 00:13:21,079 Speaker 1: that's supposed to be somewhat independent, and it seemed like 271 00:13:21,120 --> 00:13:23,440 Speaker 1: Trump really started pressuring that. And so if you have 272 00:13:23,480 --> 00:13:26,400 Speaker 1: the Federal Reserve, that would be the central bank, would 273 00:13:26,440 --> 00:13:29,679 Speaker 1: be the central bank digital currency. How does the independent 274 00:13:29,760 --> 00:13:32,520 Speaker 1: central bank, that the Federal Reserve be influenced by a 275 00:13:32,520 --> 00:13:37,240 Speaker 1: potential potential presidential candidate or president for that matter, if 276 00:13:37,240 --> 00:13:39,360 Speaker 1: it does have the independence, Well, a lot of. 277 00:13:39,360 --> 00:13:40,520 Speaker 3: That could be done through the Treasury. 278 00:13:40,640 --> 00:13:43,240 Speaker 4: So the US Treasury Department is actually what's advancing some 279 00:13:43,280 --> 00:13:46,120 Speaker 4: of the plans for central bank digital currencies as well. 280 00:13:46,640 --> 00:13:49,280 Speaker 4: I think that the printing of money happens at the 281 00:13:49,360 --> 00:13:52,520 Speaker 4: US Treasurer's the Federal Reserve and the US Treasury work together, 282 00:13:53,480 --> 00:13:55,120 Speaker 4: so I think that the Treasury is in one mechanism. 283 00:13:55,080 --> 00:13:57,320 Speaker 4: But then the deeper point is the Federal Reserve. The 284 00:13:57,360 --> 00:13:59,960 Speaker 4: independence of the Federal Reserve is really just an artifice, 285 00:14:00,640 --> 00:14:02,280 Speaker 4: you know. I think the President meets with the Chairman 286 00:14:02,280 --> 00:14:03,520 Speaker 4: of the Federal Reserve regularly. 287 00:14:03,920 --> 00:14:05,400 Speaker 3: I think he selects who's. 288 00:14:05,200 --> 00:14:08,280 Speaker 4: Appointed into that position when terms expire. So I think 289 00:14:08,280 --> 00:14:12,280 Speaker 4: this idea of independence is usually designed to I don't 290 00:14:12,280 --> 00:14:15,000 Speaker 4: want to say, dupe the public, but to create a 291 00:14:15,000 --> 00:14:17,840 Speaker 4: form of independence and legitimacy that doesn't actually exist. 292 00:14:18,200 --> 00:14:19,880 Speaker 3: I'm not even saying that I think that independence is 293 00:14:19,920 --> 00:14:20,360 Speaker 3: a good thing. 294 00:14:20,600 --> 00:14:24,880 Speaker 4: I think that I don't love unaccountable bureaucrats being accountable 295 00:14:24,920 --> 00:14:26,600 Speaker 4: to no one in that federal government. 296 00:14:27,280 --> 00:14:27,960 Speaker 3: But I think. 297 00:14:27,840 --> 00:14:33,360 Speaker 4: That that idea of independence itself is a bit illusory. 298 00:14:33,440 --> 00:14:35,360 Speaker 3: And then Treasury plays a role here as well. 299 00:14:35,400 --> 00:14:38,080 Speaker 4: So it's not the kind of thing that's somehow immunized 300 00:14:38,640 --> 00:14:41,840 Speaker 4: from political interference. To the contrary, we see political influence 301 00:14:41,880 --> 00:14:43,720 Speaker 4: all the time, and I think we could be in the. 302 00:14:43,640 --> 00:14:46,440 Speaker 3: Worst of all worlds where people believe that the reason their. 303 00:14:46,280 --> 00:14:48,000 Speaker 4: Money's being wiped out into their bank acount had nothing 304 00:14:48,000 --> 00:14:51,040 Speaker 4: to do with politics, when in fact it absolutely did. 305 00:14:51,080 --> 00:14:53,160 Speaker 4: And that's really that would be a version of the 306 00:14:53,240 --> 00:14:55,680 Speaker 4: Chinese model right here in the United States, and it's 307 00:14:55,680 --> 00:14:56,960 Speaker 4: not going to happen under my watch. 308 00:14:57,080 --> 00:14:58,000 Speaker 3: And that's why I've. 309 00:14:57,840 --> 00:14:59,960 Speaker 4: Been pretty vocal about that as part of my play 310 00:15:00,120 --> 00:15:01,080 Speaker 4: form for US President. 311 00:15:01,840 --> 00:15:03,160 Speaker 2: Yeah, yeah, it's a big deal. 312 00:15:03,440 --> 00:15:05,760 Speaker 1: All it all works in there together, you know, just 313 00:15:05,800 --> 00:15:08,840 Speaker 1: for the audience. The head of the BIS and I 314 00:15:08,840 --> 00:15:10,320 Speaker 1: want to get into some more of the global stuff 315 00:15:10,360 --> 00:15:12,400 Speaker 1: in a minute, but ahead of the BIS was out 316 00:15:12,440 --> 00:15:14,080 Speaker 1: and saying, you know, we don't know who used the 317 00:15:14,160 --> 00:15:16,040 Speaker 1: Hunter bill today or the thousand paces today, but with 318 00:15:16,120 --> 00:15:20,000 Speaker 1: CBDCs that would change, will have total control. Christine Leguard, 319 00:15:20,040 --> 00:15:23,400 Speaker 1: head of the ECB, said that, you know, we could 320 00:15:23,400 --> 00:15:25,920 Speaker 1: give some privacy for transactions of a few hundred dollars, 321 00:15:25,920 --> 00:15:27,640 Speaker 1: but even that could be its problem because even one 322 00:15:27,720 --> 00:15:29,160 Speaker 1: hundred dollars transaction. 323 00:15:29,000 --> 00:15:30,440 Speaker 2: Could lead to protests. 324 00:15:31,480 --> 00:15:34,120 Speaker 1: And what is she saying there, right, She's saying, we 325 00:15:34,200 --> 00:15:36,640 Speaker 1: can't allow even people to control a hundred because they 326 00:15:36,720 --> 00:15:40,040 Speaker 1: might not like something we're doing. It might have something 327 00:15:40,080 --> 00:15:42,320 Speaker 1: to say about that. And so the total control and 328 00:15:42,320 --> 00:15:45,320 Speaker 1: so it's is a very very dangerous thing talking about 329 00:15:45,360 --> 00:15:50,960 Speaker 1: the FED and the quasi semi independence of that. You know, 330 00:15:51,000 --> 00:15:53,880 Speaker 1: you kind of have this FED policy right now. It's 331 00:15:54,000 --> 00:15:57,360 Speaker 1: sort of insane that we look to Jerome Poud these 332 00:15:57,440 --> 00:16:00,640 Speaker 1: FOMC meetings every single you know, every single time, sort 333 00:16:00,640 --> 00:16:03,320 Speaker 1: of like punk Saddani Phil like this groundhog. He's going 334 00:16:03,360 --> 00:16:04,640 Speaker 1: to come out and tell us what the weather's like. 335 00:16:04,640 --> 00:16:06,160 Speaker 1: And now we have to look at the FED and 336 00:16:06,200 --> 00:16:07,960 Speaker 1: he's going to tell us what the future of what 337 00:16:08,040 --> 00:16:11,040 Speaker 1: our fate is. Are they going to ease restrictions or are 338 00:16:11,000 --> 00:16:12,800 Speaker 1: we going to go into recession and lose everything? Right, 339 00:16:12,840 --> 00:16:17,840 Speaker 1: He's trying to crush demand, so to speak. I guess 340 00:16:17,880 --> 00:16:19,800 Speaker 1: what would be your policy in dealing with the FED? 341 00:16:19,840 --> 00:16:22,880 Speaker 2: I mean should it seems like they're trying to hold 342 00:16:22,920 --> 00:16:23,720 Speaker 2: firm right here. 343 00:16:23,800 --> 00:16:27,040 Speaker 1: They're trying to reduce demand, keep inflation down while the 344 00:16:27,080 --> 00:16:30,280 Speaker 1: FED while the government is trying to increase the debt ceiling, 345 00:16:30,320 --> 00:16:32,880 Speaker 1: which would only be more inflationary. But we're sort of 346 00:16:32,920 --> 00:16:35,040 Speaker 1: in this damned if you do, damned if you don't situation. 347 00:16:36,000 --> 00:16:39,080 Speaker 1: Not a very good situation to come on board and 348 00:16:39,120 --> 00:16:39,800 Speaker 1: have to deal with. 349 00:16:39,840 --> 00:16:40,760 Speaker 2: What's your view on that? 350 00:16:41,280 --> 00:16:44,680 Speaker 4: What I propose is deeper structural reform of the Federal 351 00:16:44,720 --> 00:16:45,960 Speaker 4: Reserve system itself. 352 00:16:46,320 --> 00:16:48,400 Speaker 3: I mean, we have over twenty two thousand employees in there. 353 00:16:48,440 --> 00:16:52,200 Speaker 4: I've said I would implement an over ninety percent headcount reduction. 354 00:16:52,600 --> 00:16:54,000 Speaker 3: But not just for its own sake. 355 00:16:54,680 --> 00:16:56,720 Speaker 4: It's to put the Federal Reserve back in its place, 356 00:16:57,240 --> 00:17:01,760 Speaker 4: which is to have one narrow function stabilize the US 357 00:17:01,920 --> 00:17:07,439 Speaker 4: dollar period not anything more than that. Stabilize the dollar 358 00:17:07,560 --> 00:17:10,280 Speaker 4: as a unit of measurement. You know what, We've had 359 00:17:10,280 --> 00:17:14,120 Speaker 4: our biggest GDP growth in this country during periods when 360 00:17:14,400 --> 00:17:17,919 Speaker 4: actually the dollar was pegged to the gold standard, and 361 00:17:17,960 --> 00:17:21,200 Speaker 4: then was actually at least kept stable by the Federal 362 00:17:21,200 --> 00:17:23,080 Speaker 4: Reserve even after we went off the gold standard. But 363 00:17:23,080 --> 00:17:26,479 Speaker 4: when the dollar's volatile, that's an impediment to GDP growth. 364 00:17:26,920 --> 00:17:29,160 Speaker 3: The number of minutes in an hour varied. 365 00:17:29,440 --> 00:17:31,000 Speaker 4: You and I probably wouldn't be talking to each other 366 00:17:31,040 --> 00:17:32,840 Speaker 4: at the same time because one of us would be 367 00:17:32,920 --> 00:17:35,879 Speaker 4: on the Skype interface at one point, the other one 368 00:17:35,880 --> 00:17:37,560 Speaker 4: to be on a different one. That's what happens to 369 00:17:37,600 --> 00:17:41,159 Speaker 4: capital allocation and economy. It's inefficient when the dollar is 370 00:17:41,160 --> 00:17:44,000 Speaker 4: this volatile. And so I could go on and talk 371 00:17:44,040 --> 00:17:46,320 Speaker 4: about in some level of detail, how when the FED 372 00:17:46,440 --> 00:17:50,119 Speaker 4: tries to hit two targets with one arrow, inflation and unemployment. 373 00:17:50,160 --> 00:17:53,639 Speaker 4: It misses both. It's been a disastrous twenty five year experiment. 374 00:17:54,200 --> 00:17:56,280 Speaker 4: But what I would do the punchline, is put the 375 00:17:56,320 --> 00:17:59,159 Speaker 4: FED back in its place, stabilize the US dollar as 376 00:17:59,160 --> 00:18:02,280 Speaker 4: a unit of measurements, period, nothing more. I don't need 377 00:18:02,320 --> 00:18:03,960 Speaker 4: twenty two thousand of year to do that. I probably 378 00:18:03,960 --> 00:18:05,480 Speaker 4: don't even need two thousand of you. That's an over 379 00:18:05,560 --> 00:18:08,440 Speaker 4: ninety percent head count reduction. And it's also a lesson 380 00:18:08,480 --> 00:18:12,040 Speaker 4: in administration, which is that when you have thousands of 381 00:18:12,040 --> 00:18:14,400 Speaker 4: people show up to do a job that they shouldn't 382 00:18:14,400 --> 00:18:17,040 Speaker 4: have been doing in the first place, they find things 383 00:18:17,080 --> 00:18:19,639 Speaker 4: to do and usually mess it up. And I think 384 00:18:19,720 --> 00:18:23,040 Speaker 4: that's a deeper cancer in the administrative state overall. It's 385 00:18:23,080 --> 00:18:25,200 Speaker 4: definitely a problem with the Federal Reserve, and that's part 386 00:18:25,240 --> 00:18:28,560 Speaker 4: of why I've been crystal clear as US President. I 387 00:18:29,160 --> 00:18:31,920 Speaker 4: would fix that in a heartbeat. And that's a big part. 388 00:18:32,240 --> 00:18:33,919 Speaker 1: I'd like to ask a little bit more detail on 389 00:18:33,960 --> 00:18:37,359 Speaker 1: how you might actually do something like that, because from 390 00:18:37,359 --> 00:18:39,399 Speaker 1: my viewpoint, and I think a lot of people's viewpoint, 391 00:18:39,440 --> 00:18:42,120 Speaker 1: maybe from a more of an Austrian lens, anytime you're 392 00:18:42,119 --> 00:18:44,800 Speaker 1: manipulating the money supply, you're going to get this volatility. 393 00:18:45,480 --> 00:18:52,399 Speaker 1: So how would you go about stabilizing the currency that way. 394 00:18:51,440 --> 00:18:55,000 Speaker 4: Take a basket of commodities and peg the dollar to it. 395 00:18:55,040 --> 00:18:56,760 Speaker 4: So it's like the equivalent of going back to the 396 00:18:56,760 --> 00:19:00,520 Speaker 4: gold standard, except instead of just gold, you use basket 397 00:19:00,560 --> 00:19:04,560 Speaker 4: of commodities, including commodities like gold, silver, nickel, and so on, 398 00:19:05,040 --> 00:19:07,119 Speaker 4: but also farm based commodities, a broad. 399 00:19:06,880 --> 00:19:10,960 Speaker 3: Basket of commodities. Stabilize the US dollar against that period. 400 00:19:11,040 --> 00:19:13,880 Speaker 3: That's how I do it. 401 00:19:13,880 --> 00:19:14,440 Speaker 2: It could work. 402 00:19:14,480 --> 00:19:16,440 Speaker 1: I mean, it would put the government back into some 403 00:19:16,480 --> 00:19:18,600 Speaker 1: form of austerity, which is never popular. 404 00:19:19,440 --> 00:19:23,520 Speaker 4: Yes, no, but I think it would be actually reasonably 405 00:19:23,520 --> 00:19:25,840 Speaker 4: popular if explained to the American people in the context 406 00:19:25,840 --> 00:19:29,680 Speaker 4: of my GDP growth agenda. So I'm talking about unshackling 407 00:19:29,800 --> 00:19:33,920 Speaker 4: the US energy sector. I say no to this climate cult. Drill, frack, 408 00:19:34,080 --> 00:19:37,960 Speaker 4: burn coal, embrace nuclear. We're going to take the straight 409 00:19:38,080 --> 00:19:41,240 Speaker 4: jacket off the American economy, put people back to work, 410 00:19:41,280 --> 00:19:43,200 Speaker 4: stop paying people to stay back home. So a lot 411 00:19:43,240 --> 00:19:47,240 Speaker 4: of what I'm doing elsewhere is part of a radical 412 00:19:47,280 --> 00:19:51,600 Speaker 4: pro growth agenda in this country measured against that backdrop. 413 00:19:52,040 --> 00:19:54,200 Speaker 3: Absolutely, this kind of reform of the federal reserve. 414 00:19:54,240 --> 00:19:57,240 Speaker 4: Stabilizing that dollar against the basket of currencies actually feeds 415 00:19:57,240 --> 00:19:58,919 Speaker 4: into more of that GDP growth. So I think it 416 00:19:58,920 --> 00:20:01,840 Speaker 4: will be quite popular as part of a broader pro 417 00:20:01,840 --> 00:20:02,640 Speaker 4: growth policy. 418 00:20:03,160 --> 00:20:04,959 Speaker 1: So then the argument would be that it would be 419 00:20:05,040 --> 00:20:06,960 Speaker 1: it would be somewhat of an austerity measure because you 420 00:20:06,960 --> 00:20:09,520 Speaker 1: can't increase the money supply arbitrarily. However, if you go 421 00:20:09,560 --> 00:20:13,199 Speaker 1: into some pro growth policies, then you could increase the 422 00:20:13,240 --> 00:20:15,639 Speaker 1: growth and then you would be able to offset it 423 00:20:15,640 --> 00:20:22,600 Speaker 1: that way. The unfortunately, the American more than offset it. 424 00:20:23,160 --> 00:20:27,960 Speaker 4: I think that actually this would further foster that growth itself, 425 00:20:27,960 --> 00:20:30,360 Speaker 4: because a lot of that spending from the government are 426 00:20:30,400 --> 00:20:35,240 Speaker 4: themselves anti growth policies, directed towards, for example, subsidizing people 427 00:20:35,240 --> 00:20:38,920 Speaker 4: to stay home, which itself is an impediment to GDP growth. 428 00:20:38,960 --> 00:20:40,440 Speaker 3: So I don't think it's just an offset. 429 00:20:40,840 --> 00:20:42,800 Speaker 4: I think it's part of a broader pro growth Agenda's 430 00:20:42,800 --> 00:20:45,000 Speaker 4: an amplifier of that pro growth agenda itself. 431 00:20:47,240 --> 00:20:49,240 Speaker 1: A lot of the a lot of the well, I 432 00:20:49,280 --> 00:20:51,600 Speaker 1: was going to say, you know, unfortunately, I hate to 433 00:20:51,600 --> 00:20:53,920 Speaker 1: say this, but a lot of the public is somewhat 434 00:20:54,600 --> 00:20:57,719 Speaker 1: let's say uneducated. If not ignorant about these types of policies. 435 00:20:57,720 --> 00:20:59,600 Speaker 1: They don't understand how the sausage is made. They don't 436 00:20:59,640 --> 00:21:03,280 Speaker 1: understand how value is created or transferred. And so to 437 00:21:03,359 --> 00:21:05,280 Speaker 1: sell this to the public at a time when that 438 00:21:05,320 --> 00:21:09,560 Speaker 1: would be pulling back incentives or i just say, entitlements 439 00:21:09,560 --> 00:21:13,000 Speaker 1: to them in light of a trade off of having 440 00:21:13,040 --> 00:21:15,200 Speaker 1: a better future of having this pro growth would. 441 00:21:15,040 --> 00:21:15,680 Speaker 2: Be very difficult. 442 00:21:15,920 --> 00:21:19,120 Speaker 1: I've often thought that any candidate running on a campaign 443 00:21:19,160 --> 00:21:22,320 Speaker 1: to reduce benefits to anybody's probably gonna have a slim 444 00:21:22,400 --> 00:21:23,440 Speaker 1: chance of being elected. 445 00:21:23,960 --> 00:21:25,679 Speaker 2: Does that, well seem like it's a threat to you. 446 00:21:26,119 --> 00:21:28,040 Speaker 3: Well, look, that's why I kind of frame it a 447 00:21:28,040 --> 00:21:28,800 Speaker 3: little bit differently. 448 00:21:29,160 --> 00:21:32,240 Speaker 4: Democrats talk about dealing with national debt through tax increases, 449 00:21:32,560 --> 00:21:36,800 Speaker 4: Republicans talk about express spending cuts. I'm framing what I'm 450 00:21:36,800 --> 00:21:40,840 Speaker 4: doing is offering a better third way economic growth itself, 451 00:21:40,880 --> 00:21:43,520 Speaker 4: which means we all make more money. And so I 452 00:21:43,520 --> 00:21:46,080 Speaker 4: think that actually that message in a bipartisan way has 453 00:21:46,119 --> 00:21:48,160 Speaker 4: been resonating quite a bit. I mean, I'm talking mostly 454 00:21:48,160 --> 00:21:50,360 Speaker 4: to Republican audiences since we're in the middle of a primary, 455 00:21:50,760 --> 00:21:52,919 Speaker 4: but even Independence and Democrats, I think, come along with 456 00:21:52,960 --> 00:21:56,400 Speaker 4: a message where the plan is we all make more money. 457 00:21:56,119 --> 00:21:57,560 Speaker 3: Through what we actually produce. 458 00:21:58,920 --> 00:22:00,960 Speaker 4: And I think that that's the right way to handle this, 459 00:22:01,119 --> 00:22:03,120 Speaker 4: rather than the way Republicans might otherwise handle it, which 460 00:22:03,160 --> 00:22:04,920 Speaker 4: is just talking about which spending cuts we need to 461 00:22:04,920 --> 00:22:07,520 Speaker 4: get the House in order. Put that to one side. 462 00:22:07,560 --> 00:22:09,760 Speaker 4: Do that against the backdrop of GDP growth. You then 463 00:22:09,840 --> 00:22:12,960 Speaker 4: have actually much more consensus around which to deliver that. 464 00:22:13,080 --> 00:22:15,240 Speaker 3: So I think it's actually gonna be a political winner 465 00:22:15,240 --> 00:22:15,600 Speaker 3: for us. 466 00:22:15,880 --> 00:22:17,919 Speaker 1: We'll see, yeah, I mean, instead of having to choose 467 00:22:18,240 --> 00:22:20,640 Speaker 1: one negative over another, maybe you can kind of have both, 468 00:22:20,680 --> 00:22:22,240 Speaker 1: to your point, a third option in the middle that 469 00:22:22,240 --> 00:22:24,679 Speaker 1: could drag it forward. So it seems like, you know, 470 00:22:24,720 --> 00:22:26,840 Speaker 1: anytime a nation has gotten this high of a debt 471 00:22:26,880 --> 00:22:29,520 Speaker 1: to GDP, it's always spelled disaster or a sort of 472 00:22:29,520 --> 00:22:30,960 Speaker 1: teen you read on that on the brink of that 473 00:22:31,000 --> 00:22:32,800 Speaker 1: at one hundred and twenty hundred, twenty percent debt to 474 00:22:32,800 --> 00:22:35,240 Speaker 1: GDP level really want to get over like a ninety 475 00:22:35,240 --> 00:22:36,119 Speaker 1: percent debt to GDP. 476 00:22:36,240 --> 00:22:38,760 Speaker 2: The debt just drags down the economy so much. 477 00:22:39,800 --> 00:22:42,080 Speaker 4: Again, there's two ways. There's two ways to play with 478 00:22:42,080 --> 00:22:44,040 Speaker 4: that ratio. One of them is to make GDP go up. 479 00:22:44,080 --> 00:22:46,160 Speaker 4: So that's a big part of the unleashing the energy 480 00:22:46,200 --> 00:22:48,320 Speaker 4: sector putting people back to work that I'm talking about. 481 00:22:48,320 --> 00:22:50,000 Speaker 3: But you're hit, You're saying it exactly the right way. 482 00:22:50,040 --> 00:22:52,480 Speaker 4: I just wanted to remind you debt to GDP, there's 483 00:22:52,480 --> 00:22:53,919 Speaker 4: still an ingredient there called GDP. 484 00:22:54,400 --> 00:22:56,280 Speaker 3: Ye we're able to use to control for that. 485 00:22:56,960 --> 00:22:58,919 Speaker 1: Sure, you know, even with the FED policy right now 486 00:22:59,000 --> 00:23:01,680 Speaker 1: where they're trying to crush demand, right, And that's one 487 00:23:01,720 --> 00:23:03,800 Speaker 1: side of the equation. If inflation was too high, you 488 00:23:03,800 --> 00:23:06,240 Speaker 1: could also add more goods and services to the economy. Yes, 489 00:23:06,400 --> 00:23:08,480 Speaker 1: you don't have to energy demand oil. 490 00:23:08,760 --> 00:23:11,640 Speaker 3: Gas, etc. That's a big driver of that inflation too. 491 00:23:11,760 --> 00:23:15,119 Speaker 4: So yes, we're purposefully constricting supply in the name of 492 00:23:15,119 --> 00:23:16,880 Speaker 4: some climate agenda, and I think that's a big part 493 00:23:16,880 --> 00:23:17,480 Speaker 4: of the problem. 494 00:23:18,160 --> 00:23:19,680 Speaker 1: And then and then on top of that, what about 495 00:23:19,720 --> 00:23:23,440 Speaker 1: the regulations, because regulations themselves are inflationary. I mean, I 496 00:23:23,480 --> 00:23:26,680 Speaker 1: think Trump had run on a campaign of repealing three 497 00:23:26,720 --> 00:23:28,760 Speaker 1: regulations for every new one that was imposed, which I 498 00:23:28,800 --> 00:23:31,640 Speaker 1: think he had actually exceeded. I would imagine you must 499 00:23:31,680 --> 00:23:34,760 Speaker 1: have some policy to pull back lots of regulations. 500 00:23:35,119 --> 00:23:37,640 Speaker 4: Oh yeah, I mean, I mean pro growth and deregulatory 501 00:23:37,720 --> 00:23:40,359 Speaker 4: go handed glove together. I just think in certain cases 502 00:23:40,359 --> 00:23:42,359 Speaker 4: we have to take some of these government agencies and 503 00:23:42,480 --> 00:23:45,360 Speaker 4: shut them down because I think the problem is, long 504 00:23:45,359 --> 00:23:49,000 Speaker 4: after the president is gone, the managerial class and that Leviathan, 505 00:23:49,080 --> 00:23:52,040 Speaker 4: that beast in the administrative state lives on. That's why 506 00:23:52,280 --> 00:23:55,119 Speaker 4: I'm not just focused on reforming the administrative state. I 507 00:23:55,160 --> 00:23:58,040 Speaker 4: want to gut it. We will be shutting down many 508 00:23:58,080 --> 00:24:00,520 Speaker 4: of those government agencies we've already I don't know finalist 509 00:24:00,600 --> 00:24:03,719 Speaker 4: that we have to shut down and agencies that frankly 510 00:24:03,800 --> 00:24:05,480 Speaker 4: will never come back, and I think that'll be for 511 00:24:05,560 --> 00:24:06,480 Speaker 4: the better of the country. 512 00:24:08,520 --> 00:24:12,600 Speaker 1: What about you, know, you are a very young president 513 00:24:12,920 --> 00:24:16,679 Speaker 1: presidential candidate, which I'm in favor for. I've seen what's 514 00:24:16,680 --> 00:24:18,440 Speaker 1: happened to Nel Salvador with President Bukaylee. 515 00:24:18,480 --> 00:24:20,359 Speaker 2: He's done an amazing job. I feel like you kind 516 00:24:20,400 --> 00:24:21,440 Speaker 2: of get this new energy. 517 00:24:21,840 --> 00:24:24,800 Speaker 1: I'm afraid that we have seventy five and eighty year 518 00:24:24,840 --> 00:24:28,359 Speaker 1: olds in office that are making policies on cutting edge 519 00:24:28,400 --> 00:24:32,040 Speaker 1: technology that would be that the would be a massive 520 00:24:32,119 --> 00:24:35,840 Speaker 1: mistake restricting these policies, specifically around cryptocurrencies and AI. I mean, 521 00:24:35,880 --> 00:24:39,080 Speaker 1: you got Elizabeth Warren literally running on an anti crypto policy. 522 00:24:39,119 --> 00:24:41,479 Speaker 2: Now Kamala is going to regulate AI. 523 00:24:42,200 --> 00:24:42,840 Speaker 3: Oh my goodness. 524 00:24:42,920 --> 00:24:46,040 Speaker 4: Yeah, I can think of no greater disaster for humanity 525 00:24:46,040 --> 00:24:49,040 Speaker 4: than putting Kamala Harris in charge of AI. But let's 526 00:24:49,080 --> 00:24:51,160 Speaker 4: think about, you know, the AI debate for a second. 527 00:24:51,160 --> 00:24:53,000 Speaker 4: I mean, this is where I get people to just pause. 528 00:24:53,920 --> 00:24:57,480 Speaker 4: What do you think happens if we apply handcuffs to 529 00:24:57,480 --> 00:25:01,040 Speaker 4: the United States but China still rems free. You think 530 00:25:01,040 --> 00:25:04,280 Speaker 4: you've actually, let's take legitimate risks, did you've controlled those 531 00:25:04,359 --> 00:25:07,040 Speaker 4: risks or do you think you've actually made them worse? Well, 532 00:25:07,080 --> 00:25:09,600 Speaker 4: if China's not adopting those same constraints, why on earth 533 00:25:09,600 --> 00:25:12,320 Speaker 4: would we adopt those constraints either. Now, I think there 534 00:25:12,320 --> 00:25:14,840 Speaker 4: are risks, but it's like gain of function research. It 535 00:25:14,880 --> 00:25:17,560 Speaker 4: didn't stop a global pandemic, it created one. Yet in 536 00:25:17,560 --> 00:25:19,320 Speaker 4: the name of stopping a global pandemic, and even the 537 00:25:19,359 --> 00:25:21,080 Speaker 4: name of even having banned here in the United States, 538 00:25:21,080 --> 00:25:23,840 Speaker 4: who went to China and you know, at least hell 539 00:25:23,880 --> 00:25:26,280 Speaker 4: on the world thereafter. So I think people need to 540 00:25:26,320 --> 00:25:28,119 Speaker 4: just think a little bit more clearly about some of 541 00:25:28,160 --> 00:25:30,879 Speaker 4: these more complex threats rather than just engaging in the 542 00:25:30,960 --> 00:25:33,439 Speaker 4: virtue signaling of saying something about it. 543 00:25:34,160 --> 00:25:36,439 Speaker 3: I think that cryptocurrency regulation is. 544 00:25:36,520 --> 00:25:41,640 Speaker 4: I mean, our existing financial markets are already burdened by 545 00:25:42,480 --> 00:25:47,239 Speaker 4: a cumbersome regulatory regime. That crypto and bitcoin offer at 546 00:25:47,320 --> 00:25:50,840 Speaker 4: least an alternative scaffold that we could actually learn from 547 00:25:50,880 --> 00:25:54,640 Speaker 4: to understand how broken our existing security and commodities regulation 548 00:25:55,240 --> 00:25:58,440 Speaker 4: infrastructure is in this country. Instead, they're running in the 549 00:25:58,480 --> 00:26:00,320 Speaker 4: other direction to say we're going to ensnare or the 550 00:26:00,359 --> 00:26:02,520 Speaker 4: new thing in that existing framework as well. 551 00:26:02,640 --> 00:26:04,200 Speaker 3: I think it should be the other way around. 552 00:26:04,359 --> 00:26:07,520 Speaker 4: I think that having an opt out system actually takes 553 00:26:07,560 --> 00:26:09,520 Speaker 4: us back to the first principles that you govern the 554 00:26:09,520 --> 00:26:13,359 Speaker 4: way we regulate other securities and commodities already under a 555 00:26:13,400 --> 00:26:14,080 Speaker 4: broken regime. 556 00:26:14,119 --> 00:26:15,160 Speaker 3: So that's where I land on that. 557 00:26:16,160 --> 00:26:17,960 Speaker 1: Now, I know our times running short, so I don't know, 558 00:26:17,960 --> 00:26:19,960 Speaker 1: Maybe we have time for one more question, but I'm 559 00:26:20,000 --> 00:26:24,760 Speaker 1: curious your stance. You mentioned crypto bitcoin with the incumbents, 560 00:26:24,800 --> 00:26:26,560 Speaker 1: as I already kind of mentioned Elizabeth Warren, I'm throwing 561 00:26:26,560 --> 00:26:29,760 Speaker 1: out some name Christin Laguard, etc. And even Trump. Unfortunately 562 00:26:30,800 --> 00:26:35,040 Speaker 1: we're not friends of bitcoin. And you mentioned that you're 563 00:26:35,240 --> 00:26:37,760 Speaker 1: very pro making the dollar strong, and so of course 564 00:26:37,840 --> 00:26:41,360 Speaker 1: having a challenger potentially would weaken the dollar, at least 565 00:26:41,359 --> 00:26:44,320 Speaker 1: in their viewpoint. So I'm curious your stance on bitcoin. 566 00:26:44,359 --> 00:26:48,160 Speaker 1: Are you running on a pro freedom, pro choose, pro 567 00:26:48,240 --> 00:26:51,160 Speaker 1: opt out, pro bitcoin platform or do you see. 568 00:26:50,960 --> 00:26:52,040 Speaker 2: That as a threat to the dollar. 569 00:26:52,640 --> 00:26:54,200 Speaker 3: No, I don't see this as a threat to the dollar. 570 00:26:54,200 --> 00:26:56,560 Speaker 4: And I said stabilize the value of the US dollar 571 00:26:56,680 --> 00:27:00,720 Speaker 4: is what I said, So anti volatility there. I actually 572 00:27:00,880 --> 00:27:03,600 Speaker 4: think that more freedom is good, and I think that 573 00:27:03,640 --> 00:27:07,920 Speaker 4: this is an occasion to actually cause the existing establishment 574 00:27:07,960 --> 00:27:10,440 Speaker 4: financial system to look ourselves in the mirror and ask 575 00:27:10,480 --> 00:27:14,720 Speaker 4: ourselves why we're so threatened by alternatives. Instead, competition breeds innovation. 576 00:27:14,760 --> 00:27:18,080 Speaker 4: I think that's actually that's actually something that those who 577 00:27:18,160 --> 00:27:21,320 Speaker 4: are even strong proponents of the dollars should actually invite you, 578 00:27:21,359 --> 00:27:23,480 Speaker 4: don't you know. Hardship is I say this in sort 579 00:27:23,480 --> 00:27:26,439 Speaker 4: of cultural contexts, that hardship is not the same thing 580 00:27:26,440 --> 00:27:29,800 Speaker 4: as victimhood. Right, Hardship is what helps you rediscover who 581 00:27:29,840 --> 00:27:32,360 Speaker 4: you really are. I think that applies equally. 582 00:27:32,040 --> 00:27:32,720 Speaker 3: In this context. 583 00:27:32,800 --> 00:27:34,399 Speaker 4: Right, if you're having competition could be a form of 584 00:27:34,440 --> 00:27:36,080 Speaker 4: hardship that's not victimhood. 585 00:27:36,200 --> 00:27:37,680 Speaker 3: That can help you rediscover who. 586 00:27:37,640 --> 00:27:39,560 Speaker 4: You are or should be too, in the way we 587 00:27:39,640 --> 00:27:41,760 Speaker 4: run our monetary and financial system here. So that's my 588 00:27:41,840 --> 00:27:44,920 Speaker 4: broad my broad posture, and I think that actually having 589 00:27:44,920 --> 00:27:50,119 Speaker 4: the opt out, I think is a valuable disciplining function. Now, 590 00:27:50,640 --> 00:27:52,320 Speaker 4: I think that gets complicated when you have people who 591 00:27:52,359 --> 00:27:54,160 Speaker 4: have engaged in the opt out, but people who have exchanged, 592 00:27:54,160 --> 00:27:55,480 Speaker 4: et cetera. Say I want to opt back in but 593 00:27:55,560 --> 00:27:58,840 Speaker 4: under selective circumstances and have the best of both worlds. 594 00:27:58,880 --> 00:28:02,360 Speaker 4: That's where the discussion gets cost complicated on on crypto 595 00:28:02,400 --> 00:28:04,760 Speaker 4: policy and bitcoin policy. But in terms of first principles, 596 00:28:05,440 --> 00:28:08,080 Speaker 4: I'm all in for having a parallel opt out. I 597 00:28:08,080 --> 00:28:10,359 Speaker 4: think that's actually what holds the existing system's feet to 598 00:28:10,359 --> 00:28:11,280 Speaker 4: the fire for the better. 599 00:28:11,960 --> 00:28:15,479 Speaker 1: Yeah, and you know when you started Strive asset management 600 00:28:15,480 --> 00:28:17,000 Speaker 1: and went on the went went kind of on the 601 00:28:17,040 --> 00:28:18,919 Speaker 1: offensive with that, It's one thing that really brought me 602 00:28:18,960 --> 00:28:21,080 Speaker 1: to you and and really having that like, let's just 603 00:28:21,080 --> 00:28:23,359 Speaker 1: build the world we want kind of we can build, uh, 604 00:28:23,520 --> 00:28:26,120 Speaker 1: through through a competitive landscape. Through through through, I think 605 00:28:26,240 --> 00:28:29,359 Speaker 1: is a is a competitive capitalist system we can continue 606 00:28:29,400 --> 00:28:32,359 Speaker 1: to push and progress and provide better and so I 607 00:28:32,359 --> 00:28:34,840 Speaker 1: think bitcoin can work in that way. You know, stable 608 00:28:34,880 --> 00:28:38,320 Speaker 1: coins have pushed US dollars dominance all around the world, 609 00:28:39,440 --> 00:28:42,160 Speaker 1: and so it's innovation in the private market, but it's 610 00:28:42,200 --> 00:28:45,440 Speaker 1: actually done a lot to accelerate and really cement the 611 00:28:45,480 --> 00:28:48,320 Speaker 1: dollars position globally. We don't really need a CBDC because 612 00:28:48,320 --> 00:28:50,640 Speaker 1: the US dollars stable coin market has already gotten there. 613 00:28:50,680 --> 00:28:52,640 Speaker 2: So I think that's a good, good take. 614 00:28:55,240 --> 00:28:56,400 Speaker 1: I know we're kind of out of time, so I 615 00:28:56,440 --> 00:28:58,640 Speaker 1: guess we can cut it off there. I enjoyed it 616 00:28:58,720 --> 00:29:01,040 Speaker 1: making the time, you know, so I think that. 617 00:29:03,040 --> 00:29:04,600 Speaker 4: Look as a thirty seven year old and the first 618 00:29:04,680 --> 00:29:07,600 Speaker 4: millennial ever to run for US president as a Republican, 619 00:29:07,760 --> 00:29:11,600 Speaker 4: I've come from innovative backgrounds of having built a biotech 620 00:29:11,640 --> 00:29:15,680 Speaker 4: built a multillion dollar biotech company. I you know, started 621 00:29:15,680 --> 00:29:18,760 Speaker 4: Strive asset Management to compete against the ESG cartel. I 622 00:29:18,760 --> 00:29:21,560 Speaker 4: don't believe that government is the only solution. I happen 623 00:29:21,640 --> 00:29:23,600 Speaker 4: to be running for president, but I'm not a politician. 624 00:29:24,160 --> 00:29:25,960 Speaker 4: It's part of why I actually have been trying to 625 00:29:25,960 --> 00:29:27,920 Speaker 4: deliver most of the solutions I've worked. 626 00:29:27,680 --> 00:29:30,160 Speaker 3: On through the market itself. 627 00:29:30,480 --> 00:29:33,960 Speaker 4: Compete with Blackrock win that way, and you know, Strive 628 00:29:34,640 --> 00:29:37,760 Speaker 4: aggregated over five hundred million dollars in AUM and its 629 00:29:37,800 --> 00:29:39,760 Speaker 4: first three months after the launch of its first fund 630 00:29:39,800 --> 00:29:43,240 Speaker 4: last year. So I believe in innovation, I believe in competition, 631 00:29:43,560 --> 00:29:45,640 Speaker 4: I believe in market solutions, and I believe in winning. 632 00:29:46,280 --> 00:29:48,280 Speaker 4: I just happened to be running for US president this 633 00:29:48,320 --> 00:29:50,560 Speaker 4: time because I think we live in a moment where 634 00:29:50,560 --> 00:29:54,480 Speaker 4: the next US president is well positioned to lead a 635 00:29:54,560 --> 00:29:56,560 Speaker 4: national revival in a way that I don't think I 636 00:29:56,600 --> 00:29:59,080 Speaker 4: could or anyone else could in just the private sector alone. 637 00:29:59,120 --> 00:30:00,880 Speaker 4: And so I think it's the uni moment we live 638 00:30:00,920 --> 00:30:03,360 Speaker 4: in that calls me into this, and I think we 639 00:30:03,440 --> 00:30:07,040 Speaker 4: share a lot of your bitcoiners and otherwise, I think 640 00:30:07,080 --> 00:30:10,400 Speaker 4: we share deep seated instincts about how reform of the 641 00:30:10,440 --> 00:30:13,560 Speaker 4: monetary system is right over the target. And I'm not 642 00:30:13,680 --> 00:30:15,520 Speaker 4: going to be hiding from that. I'm going to make 643 00:30:15,520 --> 00:30:18,400 Speaker 4: this election in part, a referendum on that very set 644 00:30:18,440 --> 00:30:20,520 Speaker 4: of issues. And so you know, for folks who want 645 00:30:20,520 --> 00:30:22,920 Speaker 4: to support me, I appreciate that we're going to actually 646 00:30:23,120 --> 00:30:26,200 Speaker 4: look into adding crypto and bitcoin as ways that people 647 00:30:26,200 --> 00:30:27,160 Speaker 4: can even contribute to the. 648 00:30:27,120 --> 00:30:29,160 Speaker 3: Campaign, even if it's a dollar. 649 00:30:29,480 --> 00:30:31,840 Speaker 4: I want to be at the center of that debate stage, 650 00:30:32,320 --> 00:30:35,680 Speaker 4: driving this conversation in the Republican Party. And so if 651 00:30:35,680 --> 00:30:38,200 Speaker 4: people go to vivek twenty twenty four dot com even 652 00:30:38,240 --> 00:30:41,840 Speaker 4: if you give a dollar, that would supercharge this movement 653 00:30:41,960 --> 00:30:44,040 Speaker 4: and put me in a position to really elevate the 654 00:30:44,040 --> 00:30:46,360 Speaker 4: conversation you and i've been having mark to the center 655 00:30:46,360 --> 00:30:48,520 Speaker 4: of that Republican GOP debate stage. If people go to 656 00:30:48,560 --> 00:30:51,160 Speaker 4: the website and give a dollar today, I appreciate it, 657 00:30:51,360 --> 00:30:52,080 Speaker 4: So thank you for that. 658 00:30:52,120 --> 00:30:55,440 Speaker 2: Man, shift the window, put some support. Let's get this 659 00:30:55,560 --> 00:30:57,200 Speaker 2: conversation going. All right. 660 00:30:57,720 --> 00:30:59,520 Speaker 1: With that, We'll let you go. I appreciate you taking 661 00:30:59,560 --> 00:31:02,560 Speaker 1: the time, and I'm paying attention. I'm supporting you all 662 00:31:02,560 --> 00:31:03,040 Speaker 1: along the way. 663 00:31:03,520 --> 00:31:06,160 Speaker 3: Thank you, I appreciate it. Take care, all. 664 00:31:06,120 --> 00:31:06,720 Speaker 2: Right, that's a rap. 665 00:31:06,720 --> 00:31:09,760 Speaker 1: Hopefully enjoyed this conversation with Vivic like I did. Boy, 666 00:31:10,080 --> 00:31:13,400 Speaker 1: he certainly brings a young energy that I think this 667 00:31:13,480 --> 00:31:17,040 Speaker 1: country could use. And he is crazy smart and he's 668 00:31:17,080 --> 00:31:19,560 Speaker 1: got good ideas, and of course he's not from the establishment. 669 00:31:19,640 --> 00:31:22,800 Speaker 1: He's from the outside. But do you think an outsider, 670 00:31:22,920 --> 00:31:25,560 Speaker 1: a young outsider like this, has a chance. I'd like 671 00:31:25,600 --> 00:31:27,640 Speaker 1: to hear your thought. Leave me a comment down below. 672 00:31:27,880 --> 00:31:28,600 Speaker 1: Does he have a chance? 673 00:31:28,680 --> 00:31:30,240 Speaker 2: Yes or no? Would you vote for him? Yes or no? 674 00:31:30,480 --> 00:31:32,280 Speaker 1: Let me know in the comments, of course, as always, 675 00:31:32,280 --> 00:31:33,360 Speaker 1: give me thumbs up if you like it. If you 676 00:31:33,360 --> 00:31:35,280 Speaker 1: don't give me thumbs down, that's okay, but leave a 677 00:31:35,320 --> 00:31:37,320 Speaker 1: comment let me know. Subscribe to the channel so you 678 00:31:37,320 --> 00:31:38,600 Speaker 1: know when I put new videos out, and that's what 679 00:31:38,640 --> 00:31:40,000 Speaker 1: I got to your success. 680 00:31:40,200 --> 00:31:40,600 Speaker 2: I'm out.