1 00:00:00,000 --> 00:00:02,520 Speaker 1: Hello, and welcome back. You are listening to another episode 2 00:00:02,520 --> 00:00:05,240 Speaker 1: of The Markma Show, where we talk about the decentralized 3 00:00:05,280 --> 00:00:07,560 Speaker 1: revolution each and every week. Of course, we're talking about 4 00:00:07,600 --> 00:00:10,720 Speaker 1: the way the world is changing right before our very eyes, 5 00:00:11,160 --> 00:00:13,720 Speaker 1: and we always look at it to the lens of politics, finance, 6 00:00:13,800 --> 00:00:17,599 Speaker 1: and technologies we can get um better context to what 7 00:00:17,800 --> 00:00:19,079 Speaker 1: is going on in the world today. Of course, the 8 00:00:19,079 --> 00:00:21,759 Speaker 1: technology that we're talking about is bitcoin. We're talking about 9 00:00:21,760 --> 00:00:26,160 Speaker 1: the decentralized technology that's ushering in this new world. And 10 00:00:26,239 --> 00:00:28,280 Speaker 1: I try to bring to you some education to help 11 00:00:28,280 --> 00:00:31,000 Speaker 1: you see things differently, understand things at a deeper level. 12 00:00:31,360 --> 00:00:33,720 Speaker 1: Trying to bring some of the latest breaking news so 13 00:00:33,800 --> 00:00:35,960 Speaker 1: you're up to date and you know exactly what's going on, 14 00:00:36,000 --> 00:00:38,120 Speaker 1: and of course some interesting guests. You can hear some 15 00:00:38,159 --> 00:00:41,879 Speaker 1: different opinions and some different perspectives, and you know, right now, 16 00:00:41,920 --> 00:00:44,040 Speaker 1: I want to cover some of the latest breaking news 17 00:00:44,040 --> 00:00:46,320 Speaker 1: that we saw this week because it was a busy week. 18 00:00:46,360 --> 00:00:48,680 Speaker 1: There was all kinds of things going on, so I 19 00:00:48,680 --> 00:00:52,160 Speaker 1: got a lot to go through. We're gonna talk about 20 00:00:52,680 --> 00:00:55,320 Speaker 1: what's going on with the markets, what's going on with prices. 21 00:00:55,360 --> 00:00:58,560 Speaker 1: We're gonna talk about these new bills, that the government 22 00:00:58,600 --> 00:01:02,600 Speaker 1: put through that have UM opposite name of what they're 23 00:01:02,600 --> 00:01:06,520 Speaker 1: gonna do. We're gonna talk about some crazy, crazy new 24 00:01:06,560 --> 00:01:08,720 Speaker 1: things we saw out of one of the biggest actually 25 00:01:08,760 --> 00:01:13,160 Speaker 1: the new government, biggest government agency. We'll talk about bitcoin. 26 00:01:13,200 --> 00:01:15,039 Speaker 1: We're gonna talk about some big, big, big news that 27 00:01:15,040 --> 00:01:17,360 Speaker 1: happened with bitcoin, how it's transforming before our very eyes. 28 00:01:17,880 --> 00:01:22,000 Speaker 1: And then we'll talk about some big attacks that are 29 00:01:22,040 --> 00:01:27,120 Speaker 1: happening globally and in the United States against cryptocurrencies and bitcoin. 30 00:01:27,160 --> 00:01:28,520 Speaker 1: So I got a lot to cover, a lot to 31 00:01:28,560 --> 00:01:31,520 Speaker 1: go through, so let's let's jump into it. So big 32 00:01:31,560 --> 00:01:34,480 Speaker 1: news this week was, of course, all eyes on the 33 00:01:34,480 --> 00:01:36,760 Speaker 1: Federal Reserve. What are they gonna do with the money? 34 00:01:36,880 --> 00:01:38,880 Speaker 1: Are they gonna make it cheaper? Are they going to 35 00:01:38,920 --> 00:01:42,600 Speaker 1: make it more expensive? We've talked a lot about price 36 00:01:42,680 --> 00:01:45,640 Speaker 1: fixing and the damages that does, and how the FED 37 00:01:45,720 --> 00:01:48,120 Speaker 1: really by setting the price of money, sets the prices 38 00:01:48,120 --> 00:01:50,960 Speaker 1: of everything. If you've missed any of those conversations, no worries, 39 00:01:51,000 --> 00:01:53,080 Speaker 1: just check it out on the podcast again to search 40 00:01:53,120 --> 00:01:57,880 Speaker 1: Market Moss podcast. But what we've seen is that UM 41 00:01:57,920 --> 00:02:01,280 Speaker 1: this week, the FED came out and they've been waiting 42 00:02:01,320 --> 00:02:03,320 Speaker 1: to see the data of course they're now on this 43 00:02:03,440 --> 00:02:06,880 Speaker 1: what they called data dependent model. All eyes are on 44 00:02:07,000 --> 00:02:12,880 Speaker 1: the inflation number cp I consumer price inflation. And guess what, congratulations, 45 00:02:13,040 --> 00:02:19,360 Speaker 1: crack open the champagne bottle. We got inflation to go down. Hooray, hooray, hooray, hooray, hooray. 46 00:02:19,400 --> 00:02:23,080 Speaker 1: We went from nine point one all the way down 47 00:02:23,360 --> 00:02:26,800 Speaker 1: to eight point five. It was amazing, it was it 48 00:02:26,880 --> 00:02:30,840 Speaker 1: was glorious, and everybody was so excited. Now, I do 49 00:02:30,919 --> 00:02:34,720 Speaker 1: want to just keep in mind for you here a second, 50 00:02:34,840 --> 00:02:37,760 Speaker 1: that inflation going from nine point one to eight point 51 00:02:37,800 --> 00:02:42,600 Speaker 1: five doesn't really mean much. Um. It doesn't mean that 52 00:02:42,680 --> 00:02:46,600 Speaker 1: these crazy high prices that you're paying everywhere are coming 53 00:02:46,639 --> 00:02:49,760 Speaker 1: back down. What it means is that they're still going up, 54 00:02:50,639 --> 00:02:53,799 Speaker 1: just at a little bit of a slower pace. That's 55 00:02:53,800 --> 00:02:56,160 Speaker 1: what it means. So instead of going up at nine 56 00:02:56,240 --> 00:03:00,280 Speaker 1: points at they're still going up, but now at eight 57 00:03:00,280 --> 00:03:04,919 Speaker 1: point so. UM. Also, bringing your attention, if you can 58 00:03:05,000 --> 00:03:07,560 Speaker 1: remember all the way back to a couple of months ago. 59 00:03:08,200 --> 00:03:10,280 Speaker 1: I know intention spans are short these days, but if 60 00:03:10,280 --> 00:03:12,360 Speaker 1: you can remember all the way back to a couple 61 00:03:12,400 --> 00:03:16,600 Speaker 1: of months ago, um, when inflation was eight point five 62 00:03:16,720 --> 00:03:19,760 Speaker 1: as well, and it was horrible. It was like, oh 63 00:03:19,800 --> 00:03:21,960 Speaker 1: my god, these people were freaking out. The photo reserve 64 00:03:22,040 --> 00:03:23,799 Speaker 1: was freaking out. I can't believe it's so high. We 65 00:03:23,840 --> 00:03:27,200 Speaker 1: had to do something. But then it went higher and 66 00:03:27,240 --> 00:03:30,160 Speaker 1: now everybody's happy that it's back down to eight point. 67 00:03:30,919 --> 00:03:32,640 Speaker 1: So I just want to keep that into perspective for 68 00:03:32,680 --> 00:03:35,040 Speaker 1: a minute, because that has a lot to do with 69 00:03:35,680 --> 00:03:40,360 Speaker 1: I mean, it's it's it's the bigger picture overall, because 70 00:03:40,720 --> 00:03:43,720 Speaker 1: just because we're getting a little bit of relief, everybody's happy, 71 00:03:45,200 --> 00:03:48,080 Speaker 1: but we're getting a little bit of relief from like 72 00:03:48,560 --> 00:03:54,360 Speaker 1: crazy astronomical um levels. So of course when you drive 73 00:03:54,400 --> 00:03:57,000 Speaker 1: it up so far and then it comes back down, 74 00:03:57,560 --> 00:04:01,920 Speaker 1: like you feel good about it. But it came down 75 00:04:01,960 --> 00:04:05,520 Speaker 1: a little bit from a crazy high number. Let's see 76 00:04:05,560 --> 00:04:07,360 Speaker 1: where we're here. I was turning to zoom in on 77 00:04:07,440 --> 00:04:09,760 Speaker 1: my chart. Yes, so we're we leveled it off a 78 00:04:09,840 --> 00:04:12,160 Speaker 1: little bit here. Um. Yes, it's been a couple of 79 00:04:12,160 --> 00:04:13,480 Speaker 1: months since we've been down at this level, and it 80 00:04:13,520 --> 00:04:15,240 Speaker 1: was it was crazy high and now it's come down, 81 00:04:15,280 --> 00:04:18,280 Speaker 1: so so so hooray, hooray, hooray. Right, and so anyway, 82 00:04:18,320 --> 00:04:20,839 Speaker 1: that was good news for the markets. We saw nine 83 00:04:20,880 --> 00:04:24,279 Speaker 1: point eight point five percent there, which which beat their estimates. 84 00:04:24,520 --> 00:04:26,839 Speaker 1: Now there's a couple of problems with this. Well before 85 00:04:26,880 --> 00:04:28,520 Speaker 1: I jump into the problem, let's talk about it. So 86 00:04:29,320 --> 00:04:32,080 Speaker 1: a couple of things they had. They had forecasts that 87 00:04:32,120 --> 00:04:33,760 Speaker 1: it was going to drop from nine point one to 88 00:04:33,839 --> 00:04:37,800 Speaker 1: eight point seven, and it actually dropped more than they 89 00:04:37,839 --> 00:04:40,920 Speaker 1: had forecast. So that was good. Whenever you beat your forecast, 90 00:04:40,960 --> 00:04:44,279 Speaker 1: that's typically good. So hooray, hooray. Everybody's happy tapping themselves 91 00:04:44,320 --> 00:04:46,960 Speaker 1: on the back. Good job. Right now, Um, why did 92 00:04:46,960 --> 00:04:50,280 Speaker 1: they go down? And is that true? Well, the biggest 93 00:04:50,360 --> 00:04:55,760 Speaker 1: drop was energy or really your gasoline prices. So let's see, Um, 94 00:04:56,200 --> 00:04:59,960 Speaker 1: gas prices went to like I mean in southern California 95 00:05:00,080 --> 00:05:02,640 Speaker 1: where they went from like three bucks to seven dollars 96 00:05:03,720 --> 00:05:06,160 Speaker 1: and now they're back down to five. And everyone's all excited. 97 00:05:06,160 --> 00:05:09,640 Speaker 1: Hooray they dropped from seven to five. That's amazing. Yeah, 98 00:05:09,680 --> 00:05:12,520 Speaker 1: but they were three just not that long ago. Um, 99 00:05:12,640 --> 00:05:15,039 Speaker 1: so like keep that in mind a little bit. But 100 00:05:15,680 --> 00:05:18,520 Speaker 1: that supposedly dropped it down. But at the same time, 101 00:05:18,560 --> 00:05:21,880 Speaker 1: per rent dot com um their study with rents updated 102 00:05:21,880 --> 00:05:25,480 Speaker 1: as of July UM year over year change and rents 103 00:05:25,480 --> 00:05:29,200 Speaker 1: was zoe pent. Now, some states went up by a 104 00:05:29,360 --> 00:05:32,239 Speaker 1: hundred percent. Some cities, I should say some cities went down, 105 00:05:32,600 --> 00:05:37,160 Speaker 1: but average nationally was up. And the reason why that's 106 00:05:37,160 --> 00:05:41,120 Speaker 1: important is that, um, the rent or the shelter category 107 00:05:41,200 --> 00:05:45,359 Speaker 1: makes up about in the basket. So how did the 108 00:05:45,440 --> 00:05:49,480 Speaker 1: CPI basket come down with gas going down when shelters 109 00:05:49,480 --> 00:05:52,279 Speaker 1: still went up by that astronauticome amount. Well, they don't 110 00:05:52,279 --> 00:05:54,400 Speaker 1: report that I went up by of course, that data 111 00:05:54,440 --> 00:05:56,560 Speaker 1: comes from rent dot com per the government. It only 112 00:05:56,600 --> 00:05:59,000 Speaker 1: went up by you know, five percent, so I don't 113 00:05:59,000 --> 00:06:00,840 Speaker 1: know where the're getting that data. On top of that, 114 00:06:00,880 --> 00:06:05,000 Speaker 1: we have food went up by ten so again much 115 00:06:05,040 --> 00:06:08,640 Speaker 1: higher than what they reported. But again whatever, congratulations it 116 00:06:08,640 --> 00:06:10,680 Speaker 1: all came down. Now, what does that mean? What we 117 00:06:10,720 --> 00:06:14,279 Speaker 1: saw the markets rally? Right? So Bitcoin and ethereum have 118 00:06:14,320 --> 00:06:17,880 Speaker 1: been on a tear ever since Bitcoin's breached twenty four thousand. 119 00:06:17,920 --> 00:06:21,760 Speaker 1: It seems to be holding that pretty um, pretty convincingly. Um. 120 00:06:21,760 --> 00:06:23,320 Speaker 1: It's something I've been talking about for quite a while. 121 00:06:23,400 --> 00:06:27,960 Speaker 1: How you know, we saw I kind of started calling 122 00:06:28,000 --> 00:06:30,600 Speaker 1: the bottom around seventeen, eighteen thousand. I was kind of 123 00:06:30,600 --> 00:06:32,160 Speaker 1: predicting the bottom. I put out a video on my 124 00:06:32,160 --> 00:06:33,960 Speaker 1: YouTube channel. You're not following me on YouTube? You should 125 00:06:33,960 --> 00:06:36,039 Speaker 1: just search market Boss on YouTube, and I said, you know, 126 00:06:36,080 --> 00:06:38,960 Speaker 1: anything under twenty thousand is his historic buy an opportunity. 127 00:06:39,000 --> 00:06:40,360 Speaker 1: And then I put out a video saying I think 128 00:06:40,360 --> 00:06:43,279 Speaker 1: this is finally the bottom because we've been seen capitulation 129 00:06:43,360 --> 00:06:45,080 Speaker 1: things like that, and it looks like maybe that is. 130 00:06:45,600 --> 00:06:51,080 Speaker 1: We're holding twenty four thousand pretty convincingly. UM looks pretty good. UM, 131 00:06:51,120 --> 00:06:55,080 Speaker 1: but we're not out of the woods just yet. Like 132 00:06:55,080 --> 00:06:57,480 Speaker 1: I said, things are still bad. Back to the rent 133 00:06:57,520 --> 00:07:00,280 Speaker 1: situation for a minute. We can see there was article 134 00:07:00,279 --> 00:07:01,800 Speaker 1: that came out this week on Bloomberg that says the 135 00:07:01,920 --> 00:07:07,360 Speaker 1: snowball in US rental crisis is sparing nowhere and no one. 136 00:07:08,080 --> 00:07:10,400 Speaker 1: They said that rents are going up the fastest pace 137 00:07:10,520 --> 00:07:14,200 Speaker 1: then more than thirty years. Rents are going up faster 138 00:07:14,280 --> 00:07:16,559 Speaker 1: than they have in thirty years, which is a pretty 139 00:07:16,560 --> 00:07:19,720 Speaker 1: big deal. Now, rents go up lagging, right, so people 140 00:07:19,760 --> 00:07:23,120 Speaker 1: sign multi year leases, one to your leases, and so 141 00:07:23,240 --> 00:07:25,200 Speaker 1: not until that lease comes up do we see that 142 00:07:25,320 --> 00:07:27,480 Speaker 1: price of that rent go up. So we're probably gonna 143 00:07:27,480 --> 00:07:29,640 Speaker 1: continue to see this going up for some time. On 144 00:07:29,760 --> 00:07:33,240 Speaker 1: top of that, what it says in this article is 145 00:07:33,280 --> 00:07:37,840 Speaker 1: that UM renters are staying in their households for longer, 146 00:07:38,440 --> 00:07:40,680 Speaker 1: and so they're not moving as much, which means the 147 00:07:40,720 --> 00:07:44,720 Speaker 1: occupancy rate stays very high. Occupancy rate high means there's 148 00:07:44,760 --> 00:07:47,920 Speaker 1: not any inventory. Occupancy rate low means there's lots of 149 00:07:47,960 --> 00:07:50,840 Speaker 1: inventory available. And what we're seeing is that a lot 150 00:07:50,920 --> 00:07:52,880 Speaker 1: of people, especially with the real estate market slowing down, 151 00:07:52,920 --> 00:07:54,640 Speaker 1: they don't want to sell their homes or staying in 152 00:07:54,720 --> 00:07:58,080 Speaker 1: them UM, and so there's a lot of people renting 153 00:07:59,080 --> 00:08:02,040 Speaker 1: UM and we can see here that the renters are 154 00:08:02,040 --> 00:08:06,680 Speaker 1: staying put. The occupancy rates are just down a little bit, 155 00:08:07,200 --> 00:08:11,640 Speaker 1: but there's still the highest they've been in over twenty years. 156 00:08:12,240 --> 00:08:15,760 Speaker 1: So we see about nineties seven percent occupants right now. 157 00:08:15,760 --> 00:08:19,160 Speaker 1: A hundred percent means there's nothing available, nothing right. So 158 00:08:19,200 --> 00:08:23,360 Speaker 1: we're at nineties seven percent ocupants, occupancy rate, the highest 159 00:08:23,440 --> 00:08:26,320 Speaker 1: we've been in over twenty years, which is a pretty 160 00:08:26,360 --> 00:08:28,520 Speaker 1: big deal. And so we're going to continue to see 161 00:08:28,520 --> 00:08:32,000 Speaker 1: these numbers moving higher and higher, and we'll see the 162 00:08:32,040 --> 00:08:36,160 Speaker 1: costs of things going up. So UM good news. Food 163 00:08:36,160 --> 00:08:40,640 Speaker 1: prices are up, rents up, but CPI is down. UM. 164 00:08:40,840 --> 00:08:45,320 Speaker 1: Bitcoin's responding UM and UH. I think bitcoin is going 165 00:08:45,400 --> 00:08:48,320 Speaker 1: to transform from this risk on asset's been known for 166 00:08:48,520 --> 00:08:50,920 Speaker 1: to be a risk off asset. I think bitcoin continue 167 00:08:50,920 --> 00:08:53,160 Speaker 1: to go up, and I'll continue to tell you what 168 00:08:53,200 --> 00:08:55,480 Speaker 1: I've been telling you since uh bitcoin was at a 169 00:08:55,480 --> 00:08:58,880 Speaker 1: thousand dollars in seventeen, that it's always a good time 170 00:08:58,960 --> 00:09:01,280 Speaker 1: to buy bitcoin. All right, Now you're listening to the 171 00:09:01,320 --> 00:09:04,560 Speaker 1: markmas Show. We're talking about the decentralized Revolution. I got 172 00:09:04,640 --> 00:09:06,360 Speaker 1: a lot more big stories to talk about when I 173 00:09:06,360 --> 00:09:09,839 Speaker 1: come back. I want to talk about the Inflation Reduction Act. 174 00:09:09,960 --> 00:09:11,920 Speaker 1: Now that we've talked about inflation, let's talk about the 175 00:09:11,960 --> 00:09:14,600 Speaker 1: Reduction Act. We're gonna talk about that expansion of the 176 00:09:14,600 --> 00:09:16,320 Speaker 1: I R S, what they're doing with that. And then 177 00:09:16,320 --> 00:09:19,560 Speaker 1: we've got some more stories to cover bitcoin um, attack 178 00:09:19,600 --> 00:09:23,559 Speaker 1: on crypto, from the world governments and more. You're listening 179 00:09:23,559 --> 00:09:26,840 Speaker 1: to the Markma Show talking about the decentralized Revolution, bringing 180 00:09:26,880 --> 00:09:28,840 Speaker 1: you the latest stories of the week to keep you 181 00:09:28,920 --> 00:09:30,240 Speaker 1: up to date. I'll be back with all of those 182 00:09:30,280 --> 00:09:32,440 Speaker 1: and more in a minute, so don't go away. Hello, 183 00:09:32,480 --> 00:09:34,800 Speaker 1: welcome back. You are listening to the Markma Show. Of course, 184 00:09:34,840 --> 00:09:37,520 Speaker 1: we're talking about the decentralized Revolution each and every week, 185 00:09:37,559 --> 00:09:40,480 Speaker 1: talking about the way the world is swinging from centralization 186 00:09:40,520 --> 00:09:44,320 Speaker 1: to decentralization through the lens of politics, finance, and technology. 187 00:09:45,160 --> 00:09:47,560 Speaker 1: Technology is what changes the world. Thousands of years of 188 00:09:47,600 --> 00:09:50,200 Speaker 1: history is technology, and of course we're talking about bitcoin 189 00:09:50,440 --> 00:09:53,199 Speaker 1: that is changing the world. Um. Of course we look 190 00:09:53,240 --> 00:09:54,760 Speaker 1: at it through the lens of those other things. And 191 00:09:54,800 --> 00:09:56,880 Speaker 1: one of the things that we look at is obviously 192 00:09:56,920 --> 00:09:59,840 Speaker 1: just money. Right, we want to look at money. Bitcoin 193 00:10:00,160 --> 00:10:03,640 Speaker 1: disrupting money as we know it. And we you know, 194 00:10:03,679 --> 00:10:05,640 Speaker 1: we we were talking about in the previous segment about 195 00:10:06,160 --> 00:10:09,800 Speaker 1: inflation rate, the the amount the increase of prices, that 196 00:10:09,840 --> 00:10:12,840 Speaker 1: how fast these prices are going up, the inflation rate, 197 00:10:14,000 --> 00:10:17,680 Speaker 1: and how hooray, hooray they magically came down. Everybody's excited. 198 00:10:17,840 --> 00:10:19,080 Speaker 1: I think it's a little bit too early to be 199 00:10:19,080 --> 00:10:22,400 Speaker 1: congratulating ourselves. Remember, prices aren't coming down, just the rate 200 00:10:22,400 --> 00:10:25,600 Speaker 1: of change has slowed down a little bit. But the 201 00:10:25,600 --> 00:10:29,640 Speaker 1: the government has a rammed through another package um down 202 00:10:29,679 --> 00:10:32,400 Speaker 1: our throats. We didn't want it, but never mind, they 203 00:10:32,440 --> 00:10:35,400 Speaker 1: got it. And they always name it something cute and cuddly, 204 00:10:35,480 --> 00:10:37,520 Speaker 1: something that nobody could be against, something that everybody wants 205 00:10:37,520 --> 00:10:40,440 Speaker 1: to typically turns out to be the opposite. Um. This 206 00:10:40,480 --> 00:10:44,760 Speaker 1: one is called the Inflation Reduction Act. Which is kind 207 00:10:44,760 --> 00:10:49,960 Speaker 1: of like, um, I don't know if it's meant to 208 00:10:50,000 --> 00:10:52,560 Speaker 1: troll us or what, right, but it's like all this 209 00:10:52,640 --> 00:10:55,679 Speaker 1: talk about all this money, all this stimulus the government 210 00:10:55,760 --> 00:10:57,400 Speaker 1: spent in the last two years, and how it's created 211 00:10:57,480 --> 00:10:59,720 Speaker 1: all this inflation, and of course it was like, we 212 00:10:59,720 --> 00:11:02,720 Speaker 1: didn't caused the inflation. It wasn't the spending, it was 213 00:11:02,760 --> 00:11:06,440 Speaker 1: the government, or it's Putin's fault, Putin's price high, you know, 214 00:11:06,440 --> 00:11:08,760 Speaker 1: all these things. Finally they said, okay, fine, like it 215 00:11:08,840 --> 00:11:12,079 Speaker 1: was our money printing that caused the inflation. Okay, fine. 216 00:11:13,000 --> 00:11:14,680 Speaker 1: So we've seen the head of the i m F 217 00:11:14,760 --> 00:11:16,959 Speaker 1: Christina George, George Lena come out and say that, We've 218 00:11:16,960 --> 00:11:20,400 Speaker 1: seen the head of the ECB um Interest in the 219 00:11:20,400 --> 00:11:22,400 Speaker 1: Guard come and said, even J. Powell. They've all come 220 00:11:22,400 --> 00:11:24,880 Speaker 1: out and agreed that it was the massive amounts of 221 00:11:24,880 --> 00:11:29,360 Speaker 1: money printing that caused the inflation. So now they're going 222 00:11:29,400 --> 00:11:31,880 Speaker 1: to print even more money and they're going to call 223 00:11:31,920 --> 00:11:36,440 Speaker 1: it the Inflation Reduction Act, which is just insane. Like 224 00:11:36,480 --> 00:11:38,160 Speaker 1: I said, That's why I say, it's almost like they're 225 00:11:38,200 --> 00:11:40,240 Speaker 1: trolling us, and they do it so that they could 226 00:11:40,280 --> 00:11:42,480 Speaker 1: get most people to think it's okay, it's kind of 227 00:11:42,480 --> 00:11:46,440 Speaker 1: like naming something like the you know, Save the Puppies Act, Like, 228 00:11:46,480 --> 00:11:49,199 Speaker 1: who who could vote against something like the Save the 229 00:11:49,200 --> 00:11:51,280 Speaker 1: Puppies Act? And if you if you were against that, 230 00:11:51,320 --> 00:11:53,600 Speaker 1: if you voted against that, you would be a monster? Right, 231 00:11:53,679 --> 00:11:55,880 Speaker 1: You're a monster? How could you? How could you be 232 00:11:55,960 --> 00:11:58,360 Speaker 1: against something like the Save the Puppies Actor? How? I 233 00:11:58,360 --> 00:12:00,800 Speaker 1: mean you don't like the rice is going up to you. 234 00:12:00,840 --> 00:12:04,959 Speaker 1: I mean, you've got to vote for the Inflation Reduction Act? Right? Well, 235 00:12:05,800 --> 00:12:07,600 Speaker 1: what does it give us? That? And that's what we're 236 00:12:07,600 --> 00:12:10,480 Speaker 1: talking about. So we see that the White House, Biden's 237 00:12:10,480 --> 00:12:16,400 Speaker 1: White House stands by Inflation Reduction Act after the CBO. 238 00:12:16,679 --> 00:12:23,400 Speaker 1: What's the CBO? The Congressional Budget Office. They're the one 239 00:12:23,440 --> 00:12:27,160 Speaker 1: that sets the budget for the government. They're the ones 240 00:12:27,240 --> 00:12:32,240 Speaker 1: that set what the deficits will be. Yeah, somebody that 241 00:12:32,280 --> 00:12:34,960 Speaker 1: we should probably listening to more than like a political 242 00:12:35,080 --> 00:12:37,640 Speaker 1: party who might have a vested interest in the answer. 243 00:12:38,360 --> 00:12:43,319 Speaker 1: So the Biden's administration stands by their Inflation Reduction Act promise, 244 00:12:43,559 --> 00:12:49,640 Speaker 1: even though the CBO Congressional Budget Office warns that inflation 245 00:12:49,760 --> 00:12:53,559 Speaker 1: won't drop as a results. Surprise, surprise, the White House 246 00:12:53,600 --> 00:12:56,520 Speaker 1: is defending inflation Reduction Act against a report from the 247 00:12:56,640 --> 00:13:00,920 Speaker 1: nonpartisan Well, they must be extreme wing if they're saying 248 00:13:00,960 --> 00:13:03,280 Speaker 1: something other than the left wing right, it says that 249 00:13:03,320 --> 00:13:07,800 Speaker 1: they're they're a nonpartisan Congressional Budget Office that suggests that 250 00:13:07,840 --> 00:13:12,040 Speaker 1: the legislation will not meaningfully lower inflation in the coming years. 251 00:13:13,280 --> 00:13:16,360 Speaker 1: Who would have thought all this money printing created inflation 252 00:13:17,240 --> 00:13:20,760 Speaker 1: and if we print even more money it won't help inflation. 253 00:13:22,520 --> 00:13:28,280 Speaker 1: It doesn't take a genius to figure that out, does it? Um? 254 00:13:28,559 --> 00:13:31,400 Speaker 1: They said? I love this part, so uh. A question 255 00:13:31,480 --> 00:13:32,959 Speaker 1: was asked to the White House Press Secretary. Of course, 256 00:13:32,960 --> 00:13:36,080 Speaker 1: I'm talking about corne Gene Pierre. Could you address the 257 00:13:36,080 --> 00:13:39,120 Speaker 1: new CBO analysis about the Inflation Reduction Act that says 258 00:13:39,360 --> 00:13:42,840 Speaker 1: it would have almost no impact or a negligible impact 259 00:13:42,960 --> 00:13:48,760 Speaker 1: on inflation in three um? She said? She responded, quote, 260 00:13:48,960 --> 00:13:51,840 Speaker 1: you know, uh, leading to economists have said that this 261 00:13:51,880 --> 00:13:55,160 Speaker 1: Inflation Reduction Act that's been analyzed by them, that's been 262 00:13:55,160 --> 00:13:59,520 Speaker 1: looked at by these economists, will indeed reduce inflation. Okay, 263 00:13:59,559 --> 00:14:02,520 Speaker 1: that's good. Leading economists. Do you want to tell us 264 00:14:02,520 --> 00:14:04,160 Speaker 1: who they are? Do they want to put their name 265 00:14:04,200 --> 00:14:08,240 Speaker 1: on this? Uh? We can find anybody pay them enough 266 00:14:08,240 --> 00:14:10,880 Speaker 1: money to say whatever we want, but the CBO says 267 00:14:10,880 --> 00:14:13,280 Speaker 1: it won't. But you know, she says, leading economists, they've 268 00:14:13,280 --> 00:14:15,960 Speaker 1: looked at it and they say it will. Jean Pierre 269 00:14:16,679 --> 00:14:19,400 Speaker 1: was then asked if her answer means she is quote 270 00:14:19,440 --> 00:14:22,240 Speaker 1: dismissing the CBO report. So are you saying that? So 271 00:14:22,320 --> 00:14:25,920 Speaker 1: you're saying that you're you're economists who you don't name 272 00:14:26,000 --> 00:14:28,520 Speaker 1: and we don't know, but you're saying that they're right 273 00:14:28,560 --> 00:14:30,640 Speaker 1: and then the CBO is wrong. Is that what you're 274 00:14:30,640 --> 00:14:34,320 Speaker 1: trying to say? And and she was asked whether it's 275 00:14:34,360 --> 00:14:37,360 Speaker 1: is it fair to call the legislation the Inflation Reduction 276 00:14:37,400 --> 00:14:40,920 Speaker 1: Act when the CBO says that inflation will not be reduced. 277 00:14:42,760 --> 00:14:45,760 Speaker 1: She said, quote, well, if you think about the Inflation 278 00:14:45,800 --> 00:14:49,360 Speaker 1: Reduction Act, it will have an effect also on drug costs, 279 00:14:49,400 --> 00:14:53,520 Speaker 1: she explained, lowering prices on pharmaceutical costs, which is going 280 00:14:53,560 --> 00:14:57,160 Speaker 1: to make a difference in a big way to seniors 281 00:14:57,200 --> 00:15:04,280 Speaker 1: and to families. M M okay. So let's see, they're 282 00:15:04,320 --> 00:15:08,280 Speaker 1: going to reduce pharmaceutical costs. So that's gonna bring down 283 00:15:08,520 --> 00:15:11,160 Speaker 1: the expenses of goods. Now, I didn't look it up 284 00:15:11,200 --> 00:15:14,000 Speaker 1: ahead of time, but I don't think uh, prescription costs 285 00:15:14,000 --> 00:15:18,000 Speaker 1: make up a big chunk of the CPI baskets. People 286 00:15:18,000 --> 00:15:23,160 Speaker 1: don't typically well people that used to typically buy pharmaceuticals 287 00:15:23,160 --> 00:15:25,080 Speaker 1: your whole life. So typically a CPI is supposed to work. 288 00:15:25,160 --> 00:15:26,920 Speaker 1: Is fifty years ago, I went to the grocery store 289 00:15:26,920 --> 00:15:28,800 Speaker 1: and I bought a tea, bone steak, and a gallon 290 00:15:28,800 --> 00:15:30,720 Speaker 1: of milk and a pound of cheese, and then I 291 00:15:30,960 --> 00:15:33,360 Speaker 1: continue to buy that over time. What happens with that price. 292 00:15:34,040 --> 00:15:36,440 Speaker 1: We shouldn't be buying pharmaceuticals forty years. That's a different 293 00:15:36,440 --> 00:15:42,080 Speaker 1: story anyway. UM So the reduction actually lower drug prices. Well, 294 00:15:42,080 --> 00:15:45,360 Speaker 1: that sounds great. I mean they're way too high. Why 295 00:15:45,480 --> 00:15:47,760 Speaker 1: is it that you know insulin is like whatever, several 296 00:15:47,840 --> 00:15:52,520 Speaker 1: hundred dollars here and it's like six bucks in other countries. Um, 297 00:15:52,560 --> 00:15:57,960 Speaker 1: I'm actually having a surgery, um this week, my hip 298 00:15:58,840 --> 00:16:01,360 Speaker 1: and UM I could go to Columbia and the surgery 299 00:16:01,360 --> 00:16:07,520 Speaker 1: would be six thousand dollars and it's costing my insurance 300 00:16:07,560 --> 00:16:11,640 Speaker 1: eight one dollars here in the United States. Now, Columbia 301 00:16:11,720 --> 00:16:14,400 Speaker 1: is one of the best medical tourism locations with some 302 00:16:14,440 --> 00:16:16,720 Speaker 1: of the best hospitals in the world. American trained doctors. 303 00:16:16,760 --> 00:16:18,000 Speaker 1: People go there for everything. I can get it for 304 00:16:18,120 --> 00:16:20,920 Speaker 1: six thousand dollars and it's eight dollars here in the 305 00:16:20,960 --> 00:16:24,600 Speaker 1: United States. So they're gonna lower pharmaceutical costs. Great, Why 306 00:16:24,600 --> 00:16:27,800 Speaker 1: are they so stupid high in the first place? And 307 00:16:28,000 --> 00:16:31,280 Speaker 1: how are they doing that? Oh, that's right, they're going 308 00:16:31,360 --> 00:16:34,280 Speaker 1: to subsidize them. They're gonna pay for some of that 309 00:16:34,440 --> 00:16:36,040 Speaker 1: so you don't have to pay for it. So who's 310 00:16:36,040 --> 00:16:38,480 Speaker 1: gonna pay for it? Where does that money come from? 311 00:16:38,600 --> 00:16:41,640 Speaker 1: You see what I'm saying. It's coming from money printing 312 00:16:41,960 --> 00:16:44,560 Speaker 1: and from taking tax dollars from you. That's where it's 313 00:16:44,560 --> 00:16:46,680 Speaker 1: going from. It's not reducing inflation. Maybe for those couple 314 00:16:46,760 --> 00:16:49,320 Speaker 1: of people it helps them, but not for any for 315 00:16:49,400 --> 00:16:55,520 Speaker 1: not for not for big people overall. Um uh. And 316 00:16:55,600 --> 00:16:58,240 Speaker 1: what else are they using that money for? Oh surprise, surprise. 317 00:16:58,320 --> 00:17:01,600 Speaker 1: Remember the rest of that money comes from your tax dollars. 318 00:17:01,800 --> 00:17:04,080 Speaker 1: So on top of that, now the US government wants 319 00:17:04,119 --> 00:17:08,320 Speaker 1: to use your tax dollars to hire eighty thousand new 320 00:17:08,440 --> 00:17:11,720 Speaker 1: I r S Agents to go after and force you. 321 00:17:12,280 --> 00:17:16,600 Speaker 1: And they've even authorized them to kill you if you 322 00:17:16,760 --> 00:17:21,240 Speaker 1: don't pay up. Period. Eighty tho I agents are authorized 323 00:17:21,240 --> 00:17:22,479 Speaker 1: to kill you if you don't pay up in the 324 00:17:22,600 --> 00:17:24,400 Speaker 1: terms of the I R. S. Thing that says here 325 00:17:24,560 --> 00:17:27,119 Speaker 1: they are able to use of deadly forces permitted if 326 00:17:27,160 --> 00:17:29,400 Speaker 1: in the opinion either the special agent or another person 327 00:17:29,560 --> 00:17:33,439 Speaker 1: is an imminent danger. Deadly force may be used to 328 00:17:33,560 --> 00:17:39,560 Speaker 1: prevent the escape of a flean subject. Prevent the escape 329 00:17:39,640 --> 00:17:41,960 Speaker 1: of a flean subject. Can you believe that's what it says. 330 00:17:42,119 --> 00:17:44,439 Speaker 1: So they're gonna hire eighty thousand new agents to go 331 00:17:44,520 --> 00:17:47,120 Speaker 1: squeeze you at the threat of a gun, to cough 332 00:17:47,200 --> 00:17:48,800 Speaker 1: up money so you can pay for some of the 333 00:17:48,960 --> 00:17:52,520 Speaker 1: pharmaceutical costs. So some people's costs will go down for 334 00:17:52,560 --> 00:17:56,560 Speaker 1: the Inflation Reduction Act. But that's not even the start 335 00:17:56,600 --> 00:17:58,520 Speaker 1: of it. Wait until you hear what I have to 336 00:17:58,520 --> 00:18:00,920 Speaker 1: say when I come back. So don't go away. You're 337 00:18:00,920 --> 00:18:03,520 Speaker 1: listening to the Markma Show talking about the decentralized revolution, 338 00:18:03,560 --> 00:18:05,600 Speaker 1: talking about the way the world is changing through the 339 00:18:05,640 --> 00:18:08,480 Speaker 1: lens of politics, finance, and technology. I got a whole 340 00:18:08,480 --> 00:18:10,119 Speaker 1: lot more to cover. We're gonna go deep. I got 341 00:18:10,119 --> 00:18:11,399 Speaker 1: a lot of stuff on bitcoin to come up in 342 00:18:11,400 --> 00:18:14,520 Speaker 1: a minute. Don't go away. I'm going to be right back, 343 00:18:15,720 --> 00:18:18,000 Speaker 1: all right, Welcome back. You are listening to the Markma Show. 344 00:18:18,040 --> 00:18:20,520 Speaker 1: We're talking about the decentralized revolution each and every week, 345 00:18:20,560 --> 00:18:23,400 Speaker 1: of course, looking at through the lens of politics, finance, 346 00:18:23,400 --> 00:18:26,520 Speaker 1: and technology. And you know, as this world changes, things 347 00:18:26,520 --> 00:18:28,919 Speaker 1: start to get crazy. Um. And that's what we're kind 348 00:18:28,960 --> 00:18:31,639 Speaker 1: of walking through each and every week. And Um, the money, 349 00:18:32,200 --> 00:18:36,399 Speaker 1: the financial system as we know it is dying on 350 00:18:36,440 --> 00:18:39,120 Speaker 1: about an eighty year time frame. The financial system gets 351 00:18:39,160 --> 00:18:42,960 Speaker 1: reset every eighty years. Eighty years ago, the financials, the 352 00:18:43,119 --> 00:18:46,919 Speaker 1: entire global system was reset the Bretton Woods Agreement. And 353 00:18:46,920 --> 00:18:49,280 Speaker 1: that's what we're witnessing right now. So one system is 354 00:18:49,359 --> 00:18:54,080 Speaker 1: dying and another one is being rebuilt. Um. You can 355 00:18:54,200 --> 00:18:56,000 Speaker 1: you can think it's right wing or left wing, or 356 00:18:56,040 --> 00:18:58,439 Speaker 1: you can think it's right or it's wrong. It doesn't matter. 357 00:18:58,880 --> 00:19:03,320 Speaker 1: It's happening. It's not political, it's just happening. We live 358 00:19:03,359 --> 00:19:07,960 Speaker 1: in a fake Fiat monetary system that was doomed to 359 00:19:08,000 --> 00:19:12,240 Speaker 1: fail from the beginning, and it's failing and it's falling apart, 360 00:19:13,000 --> 00:19:15,639 Speaker 1: and we have a bunch of leaders who are trying 361 00:19:15,680 --> 00:19:17,320 Speaker 1: to cobble it together and hold it together with some 362 00:19:17,400 --> 00:19:20,359 Speaker 1: duct taping and some chewing gum. But it's not working, 363 00:19:21,680 --> 00:19:24,119 Speaker 1: and there's a new system being built to replace it. 364 00:19:24,800 --> 00:19:27,440 Speaker 1: And we're witnessing both of these things happening in real time. 365 00:19:28,320 --> 00:19:29,920 Speaker 1: And that's what we talked about each other week. We 366 00:19:30,080 --> 00:19:33,360 Speaker 1: watched we're talking about one system as it's falling apart, 367 00:19:34,040 --> 00:19:37,480 Speaker 1: and another system is it's being birthed. One man dies, 368 00:19:37,760 --> 00:19:40,560 Speaker 1: a child is born. That's basically what's happening here. Now 369 00:19:40,600 --> 00:19:42,240 Speaker 1: back to the system that we have, of course, are 370 00:19:42,280 --> 00:19:44,800 Speaker 1: our monetary system has fallen apart um that leads to 371 00:19:44,840 --> 00:19:46,679 Speaker 1: all types of societal problems. I talked about this all 372 00:19:46,680 --> 00:19:50,480 Speaker 1: the time, Um, because we're in a system that continually 373 00:19:50,520 --> 00:19:53,639 Speaker 1: needs the government to print more money. We're in a 374 00:19:53,720 --> 00:19:57,240 Speaker 1: ponzi and Ponzi's need new money coming in all the time. 375 00:19:57,680 --> 00:19:59,359 Speaker 1: And so that's why they had to pass this new 376 00:19:59,400 --> 00:20:01,560 Speaker 1: thing called the Inflation Reduction Act. I was talking about 377 00:20:01,600 --> 00:20:04,280 Speaker 1: how even though all these are stimulus package they've passed 378 00:20:04,280 --> 00:20:06,480 Speaker 1: has created all this massive inflation. They've all admitted it 379 00:20:06,520 --> 00:20:09,000 Speaker 1: by now, ahead of the IMFVCB, the FED, they've all 380 00:20:09,000 --> 00:20:11,440 Speaker 1: admitted it. But yet here we are passing another one 381 00:20:11,520 --> 00:20:14,719 Speaker 1: because of course we need the money, and they had 382 00:20:14,760 --> 00:20:17,600 Speaker 1: the audacity to name it the Inflation Inflation Reduction Act, 383 00:20:17,640 --> 00:20:19,520 Speaker 1: which is the exact opposite of what it's gonna do. 384 00:20:20,760 --> 00:20:24,119 Speaker 1: I mean, you just can't make this stuff up. Um. Now, Um, 385 00:20:24,240 --> 00:20:26,280 Speaker 1: on top of taking all that money, whe they're gonna 386 00:20:26,280 --> 00:20:29,520 Speaker 1: they're gonna lower drug costs, pharmaceutical costs, um by making 387 00:20:29,640 --> 00:20:33,320 Speaker 1: you pay more money for taxes. Well, if you pay taxes. UM. 388 00:20:33,359 --> 00:20:35,000 Speaker 1: I don't have the exact breakdown in front of me 389 00:20:35,080 --> 00:20:40,440 Speaker 1: right now, but I believe. I believe the top twenty 390 00:20:40,560 --> 00:20:45,280 Speaker 1: five percent of tax payers pay percent of the tax 391 00:20:46,520 --> 00:20:49,639 Speaker 1: So that means seventy five percent of the people in 392 00:20:49,640 --> 00:20:52,720 Speaker 1: the United States pay less than two percent of all 393 00:20:52,800 --> 00:20:56,160 Speaker 1: the tax receipts. So I guess it's not coming out 394 00:20:56,160 --> 00:21:00,000 Speaker 1: of all of your money, but for a lot of you. Um, 395 00:21:00,000 --> 00:21:02,399 Speaker 1: the irs needs to make up that gap. How are 396 00:21:02,400 --> 00:21:04,080 Speaker 1: we going to get that money? We need to collect 397 00:21:04,200 --> 00:21:06,680 Speaker 1: more money. We need to go out and harass more people. Now, 398 00:21:06,960 --> 00:21:09,960 Speaker 1: Before we had the monetary system that we have today, 399 00:21:10,000 --> 00:21:12,160 Speaker 1: a fiat money system where the government could just create 400 00:21:12,160 --> 00:21:14,160 Speaker 1: money out of the air, we were on a gold 401 00:21:14,200 --> 00:21:19,440 Speaker 1: system and gold was money for five thousand years. So um. 402 00:21:19,480 --> 00:21:21,720 Speaker 1: The first central bank was created in the Bank of 403 00:21:21,760 --> 00:21:24,760 Speaker 1: England in the late sixteen hundreds. I forget the exact 404 00:21:24,840 --> 00:21:28,919 Speaker 1: year off top of my head like, uh eighties, somewhere 405 00:21:28,920 --> 00:21:32,320 Speaker 1: around their sixteen seventy I forget exactly the Bank of England. 406 00:21:32,920 --> 00:21:35,720 Speaker 1: Before that, we were on the gold standard. And so 407 00:21:36,480 --> 00:21:39,520 Speaker 1: just rewind to sixteen fifteen, fourteen hund or whatever period 408 00:21:39,560 --> 00:21:42,760 Speaker 1: you want. Let's go back to the story of Robin Hood. 409 00:21:42,800 --> 00:21:45,080 Speaker 1: You remember the story of Robin Hood. Robin Hood would 410 00:21:45,119 --> 00:21:47,440 Speaker 1: steal from the rich and he would give to the poor. 411 00:21:47,680 --> 00:21:49,760 Speaker 1: I have kids. I watched the cartoons with the Fox 412 00:21:49,800 --> 00:21:52,760 Speaker 1: and the Bear with my kids, and really what he 413 00:21:52,800 --> 00:21:54,400 Speaker 1: would steal from and he would steal from the king. 414 00:21:54,680 --> 00:21:57,439 Speaker 1: Right now, where did the king get the gold? He 415 00:21:57,440 --> 00:22:00,520 Speaker 1: took it from the people. And when the king needed 416 00:22:00,520 --> 00:22:02,600 Speaker 1: more money, need to go to war, what would he do. 417 00:22:02,720 --> 00:22:04,320 Speaker 1: He would go out to the people and he'd squeeze 418 00:22:04,320 --> 00:22:06,840 Speaker 1: and even harder and needed more money, he would send 419 00:22:06,920 --> 00:22:08,919 Speaker 1: his army out to house by house by house they 420 00:22:08,920 --> 00:22:11,879 Speaker 1: had ransacked their house. Anything of value they'd grab, their pots, 421 00:22:11,920 --> 00:22:13,919 Speaker 1: their pants or jewel or anything they could grab they 422 00:22:13,920 --> 00:22:17,480 Speaker 1: would grab because they needed money for war. It's like 423 00:22:17,480 --> 00:22:20,720 Speaker 1: the I R. S. So that's exactly what the RS is. 424 00:22:20,760 --> 00:22:23,280 Speaker 1: So the end of the empire is here, The end 425 00:22:23,280 --> 00:22:25,560 Speaker 1: of the money system is here. The government needs more 426 00:22:25,560 --> 00:22:28,000 Speaker 1: money to pay for some people's prescription drug costs so 427 00:22:28,040 --> 00:22:31,120 Speaker 1: they could fight inflation, supposedly, and they need to squeeze 428 00:22:31,200 --> 00:22:34,120 Speaker 1: more money out of you. Well, how do they do that, Well, 429 00:22:34,680 --> 00:22:39,880 Speaker 1: They're gonna hire eighty thousand new agents, which makes them 430 00:22:39,920 --> 00:22:44,080 Speaker 1: the biggest private army in the United States working directly 431 00:22:44,119 --> 00:22:49,600 Speaker 1: for the President of the United States, Bigger than the 432 00:22:49,840 --> 00:22:53,639 Speaker 1: than the Secretary of State, bigger than the FBI, bigger 433 00:22:53,720 --> 00:22:58,359 Speaker 1: than the Border Patrol all combined. They're coming after you. 434 00:22:58,359 --> 00:22:59,800 Speaker 1: You spent you have more than six h bucks in 435 00:22:59,840 --> 00:23:01,879 Speaker 1: your out, you did a Venmo transaction. They want to 436 00:23:01,880 --> 00:23:05,560 Speaker 1: shine a flashlight up your butt. Never Mind the trillions 437 00:23:05,560 --> 00:23:08,320 Speaker 1: of dollars I get laundered through the banks, never mind 438 00:23:08,400 --> 00:23:10,680 Speaker 1: the billions of dollars that have just got laundered through 439 00:23:10,680 --> 00:23:13,840 Speaker 1: the Ukraine situation. Never mind that you got six hundred 440 00:23:13,840 --> 00:23:16,040 Speaker 1: bucks in your Venom account. We better trying to flash 441 00:23:16,080 --> 00:23:18,159 Speaker 1: light up your butt and see what happened. Eighty thousand 442 00:23:18,200 --> 00:23:20,560 Speaker 1: new agents are coming at you, and they are armed 443 00:23:20,720 --> 00:23:24,240 Speaker 1: to the teeth. Armed to the teeth. As a matter 444 00:23:24,280 --> 00:23:27,040 Speaker 1: of fact, in the latest job listing of the I 445 00:23:27,320 --> 00:23:30,280 Speaker 1: R S, it says, right here, I'm gonna read it directly, 446 00:23:30,280 --> 00:23:32,040 Speaker 1: because I'm going to read a word for word, because 447 00:23:32,080 --> 00:23:33,760 Speaker 1: You're gonna think I'm a nut job if I don't. 448 00:23:34,000 --> 00:23:37,399 Speaker 1: It says, quote, major duties adhere to the highest standards 449 00:23:37,400 --> 00:23:40,960 Speaker 1: of conduct, especially maintaining honest integrity. Great, We're a minimum 450 00:23:40,960 --> 00:23:43,800 Speaker 1: of fifty hours per week, which may include a regular hours. Okay, Great, 451 00:23:44,200 --> 00:23:46,720 Speaker 1: maintain the level of fitness necessary to effectively respond to 452 00:23:46,840 --> 00:23:50,239 Speaker 1: life threatening situations on the job. Since when was an 453 00:23:50,280 --> 00:23:52,760 Speaker 1: I R S agent a life threatening situation? Aren't you 454 00:23:52,800 --> 00:23:55,359 Speaker 1: just going like you're a bean counter? Like, aren't you 455 00:23:55,400 --> 00:23:58,080 Speaker 1: supposed to just go and like look at somebody's profit 456 00:23:58,119 --> 00:24:00,719 Speaker 1: and loss statement or like look at their w too? Like? 457 00:24:01,200 --> 00:24:04,840 Speaker 1: Since when is looking at somebody's W two a life 458 00:24:05,119 --> 00:24:08,679 Speaker 1: threatening situation on the job? What exactly are they training 459 00:24:08,680 --> 00:24:12,920 Speaker 1: these these I R S agations for? Like? What, um, 460 00:24:13,000 --> 00:24:18,000 Speaker 1: let's keep going. Major duties. Carry a firearm and be 461 00:24:18,320 --> 00:24:22,200 Speaker 1: willing to use deadly force if necessary. Wait a minute, 462 00:24:22,040 --> 00:24:25,679 Speaker 1: wait what I R S agents? I thought they're supposed 463 00:24:25,720 --> 00:24:28,159 Speaker 1: to look at my taxes and did I pay enough? 464 00:24:28,920 --> 00:24:31,080 Speaker 1: Did I get enough of a rebate? But wait, now 465 00:24:31,160 --> 00:24:33,960 Speaker 1: they have to respond to life threatening situations. Carry a 466 00:24:33,960 --> 00:24:37,760 Speaker 1: farm and they have to be willing to use deadly force. 467 00:24:38,040 --> 00:24:42,760 Speaker 1: Like what, Hang on a second, what what what kind 468 00:24:42,760 --> 00:24:44,639 Speaker 1: of what kind of a force are they trying to 469 00:24:44,680 --> 00:24:48,680 Speaker 1: build here? Um, this is insane. And as I said before, 470 00:24:48,800 --> 00:24:50,800 Speaker 1: if you go to the website, so it says they're 471 00:24:51,200 --> 00:24:53,600 Speaker 1: major duties must be willing to use deadly force. So 472 00:24:53,680 --> 00:24:55,000 Speaker 1: if you go up to the website and you look 473 00:24:55,040 --> 00:24:57,960 Speaker 1: up section nine point two point three point five point two, 474 00:24:58,760 --> 00:25:01,439 Speaker 1: it says win deadly force may be used, which I 475 00:25:01,480 --> 00:25:04,520 Speaker 1: read to you. Deadly force is permitted if, in the opinion, 476 00:25:04,560 --> 00:25:06,960 Speaker 1: either the special agent or another person is an imminent danger. 477 00:25:07,000 --> 00:25:11,440 Speaker 1: But but imminent has a broader meaning than immediate. I'm 478 00:25:11,440 --> 00:25:14,560 Speaker 1: reading word for a word here. Imminent has a broader 479 00:25:14,600 --> 00:25:18,080 Speaker 1: meaning than just immediate. A subject may pose an imminent 480 00:25:18,160 --> 00:25:21,520 Speaker 1: danger even if he she is not at that moment 481 00:25:21,560 --> 00:25:25,560 Speaker 1: pointing a weapon at the agent. So I could say, oh, 482 00:25:25,840 --> 00:25:28,000 Speaker 1: I have an imminent I'm an imminent danger even though 483 00:25:28,000 --> 00:25:30,720 Speaker 1: you don't even have a weapon. And it says, I 484 00:25:30,720 --> 00:25:33,439 Speaker 1: read this part earlier, deadly force may be used to 485 00:25:33,680 --> 00:25:39,800 Speaker 1: prevent the escape of a flean subject. Now I thought 486 00:25:39,840 --> 00:25:42,159 Speaker 1: in the United States, I was innocent until proven guilty, 487 00:25:42,280 --> 00:25:45,160 Speaker 1: isn't there something called do process. Don't have to be arrested, 488 00:25:45,440 --> 00:25:47,399 Speaker 1: don't have to build a case, Don't I have the 489 00:25:47,440 --> 00:25:51,280 Speaker 1: opportunity to defend myself, don't have to be found guilty. 490 00:25:51,920 --> 00:25:53,800 Speaker 1: I thought it was innocent proving guilty. But they're saying 491 00:25:53,800 --> 00:25:58,480 Speaker 1: that they could use deadly force used to prevent someone 492 00:25:58,520 --> 00:26:02,760 Speaker 1: who's running away. That's the opposite of that's the opposite 493 00:26:02,800 --> 00:26:05,040 Speaker 1: of eneman danger. Someone's running away from you, You're gonna 494 00:26:05,080 --> 00:26:08,800 Speaker 1: kill him. That's the eighty thousand people they're hiring now. 495 00:26:09,600 --> 00:26:15,360 Speaker 1: On top of that, Um, oh, I thought I had it? Oh, 496 00:26:15,520 --> 00:26:20,160 Speaker 1: on top of that. In so we're halfway through this year, 497 00:26:20,400 --> 00:26:24,840 Speaker 1: the I R S has spent almost one million dollars 498 00:26:24,880 --> 00:26:30,840 Speaker 1: in ammunition one million. They've spent eleven million dollars over 499 00:26:30,880 --> 00:26:33,240 Speaker 1: the last ten years, and the I R S is 500 00:26:33,280 --> 00:26:41,080 Speaker 1: sitting on over five million rounds of AMMO. What are 501 00:26:41,119 --> 00:26:45,760 Speaker 1: they doing? What do they need that for? Well? Remember 502 00:26:45,760 --> 00:26:47,960 Speaker 1: the Robin Hood story that to go house by house 503 00:26:48,000 --> 00:26:51,840 Speaker 1: by house to get whatever gold they could. Who's gonna 504 00:26:51,840 --> 00:26:53,680 Speaker 1: pay for those right? Who's gonna pay to bring those 505 00:26:53,760 --> 00:26:57,760 Speaker 1: pharmaceutical costs down? Why are they hiring eighty thousand I 506 00:26:57,920 --> 00:27:00,920 Speaker 1: R s agents. Why are they sitting on five million 507 00:27:01,000 --> 00:27:02,760 Speaker 1: rounds of AMMA? Why do those irs agents have to 508 00:27:02,800 --> 00:27:06,200 Speaker 1: be willing to use, willing to not not not they're 509 00:27:06,240 --> 00:27:09,920 Speaker 1: able to. They must be willing to use deadly force, 510 00:27:10,040 --> 00:27:15,479 Speaker 1: even on a fleeing subject, not guilty person. It's insane again. 511 00:27:16,080 --> 00:27:19,520 Speaker 1: One child, one person, old man, dying, child were born. 512 00:27:19,840 --> 00:27:21,359 Speaker 1: That's the system that's dying. I'm gonna be back in 513 00:27:21,400 --> 00:27:23,800 Speaker 1: a minute talking about the system that's being born. We 514 00:27:23,840 --> 00:27:27,240 Speaker 1: have big, big, big, big big news. The biggest actually 515 00:27:27,520 --> 00:27:30,680 Speaker 1: the biggest entrant in the space came in this week 516 00:27:30,720 --> 00:27:33,359 Speaker 1: into the brand new system. We're talking about Bitcoin and 517 00:27:33,359 --> 00:27:34,720 Speaker 1: some big news that happen this week. You're listening to 518 00:27:34,720 --> 00:27:37,840 Speaker 1: the Mark Moa Show talking about the decentralized Revolution. I'm 519 00:27:37,840 --> 00:27:40,800 Speaker 1: gonna be back with those stories and more in a minute. 520 00:27:41,119 --> 00:27:42,919 Speaker 1: You don't want to miss this. I'll be back, so 521 00:27:43,000 --> 00:27:45,720 Speaker 1: don't go away, all right, Welcome back. You are listening 522 00:27:45,760 --> 00:27:48,240 Speaker 1: to the Mark ma Show. We're talking about the decentralized 523 00:27:48,280 --> 00:27:49,960 Speaker 1: Revolution each and every week, talking about the way the 524 00:27:49,960 --> 00:27:52,480 Speaker 1: world is changing as we look at it through the 525 00:27:52,520 --> 00:27:56,480 Speaker 1: lens of politics, finance, and technology. Of course, that technology 526 00:27:56,600 --> 00:28:01,919 Speaker 1: is Bitcoin recovered a lot of ground today covered a stories, UM. 527 00:28:02,000 --> 00:28:04,399 Speaker 1: And of course we're talking about we're talking about the 528 00:28:04,440 --> 00:28:08,480 Speaker 1: old system that's dying. UM. And one man dies, another 529 00:28:08,560 --> 00:28:11,800 Speaker 1: child is born. One old financial system is dying on 530 00:28:12,000 --> 00:28:14,560 Speaker 1: eighty year time frame is right on cue, and we 531 00:28:14,600 --> 00:28:17,600 Speaker 1: have another system being born. And of course that's the 532 00:28:17,720 --> 00:28:21,600 Speaker 1: decentralized system that we have. We're talking about bitcoin, and 533 00:28:21,640 --> 00:28:24,160 Speaker 1: something that we've been talking about for years, UM, I've 534 00:28:24,200 --> 00:28:28,240 Speaker 1: been talking about for years is the entrance of new 535 00:28:28,280 --> 00:28:32,600 Speaker 1: market participants, namely the institutions. We're talking about the institutions. 536 00:28:32,600 --> 00:28:35,960 Speaker 1: We're talking about the giant hedge funds, the pension funds, 537 00:28:36,119 --> 00:28:39,560 Speaker 1: right Wall Street, the big money. UM. No matter how 538 00:28:39,640 --> 00:28:42,280 Speaker 1: much money you have listening, you're most likely considered just 539 00:28:42,360 --> 00:28:45,000 Speaker 1: like me. We're considered the dumb money. The smart money 540 00:28:45,120 --> 00:28:47,920 Speaker 1: is the institutions, the ones with you know, billions, hundreds 541 00:28:47,960 --> 00:28:50,160 Speaker 1: of billions of dollars. And so we've been waiting. We've 542 00:28:50,160 --> 00:28:52,120 Speaker 1: been waiting, we've been waiting, and we've been getting them 543 00:28:52,120 --> 00:28:54,440 Speaker 1: a little by little by little. UM, they're coming, you know, 544 00:28:54,560 --> 00:28:59,400 Speaker 1: slowly but surely. But we saw the biggest one in 545 00:28:59,480 --> 00:29:01,640 Speaker 1: the space jump in which is a big deal. And 546 00:29:01,680 --> 00:29:03,440 Speaker 1: I talked about this a little bit last week. So 547 00:29:03,480 --> 00:29:05,400 Speaker 1: if you tune in each and every week, um, you 548 00:29:05,440 --> 00:29:06,720 Speaker 1: heard a little bit about it. And if you don't 549 00:29:06,720 --> 00:29:08,880 Speaker 1: tune in each and every week, then what are you doing? 550 00:29:09,720 --> 00:29:12,239 Speaker 1: And grab your phone put a reminder join me ever 551 00:29:12,280 --> 00:29:14,719 Speaker 1: to each and every week on this time, on this channel, uh, 552 00:29:14,800 --> 00:29:17,040 Speaker 1: this location. And if you missed anything I had to say, 553 00:29:17,080 --> 00:29:18,520 Speaker 1: don't where I got your back? You can check out 554 00:29:18,520 --> 00:29:21,520 Speaker 1: on the podcast, um just search Mark Moss podcast or 555 00:29:21,520 --> 00:29:23,680 Speaker 1: find me on YouTube. UM you can find it there 556 00:29:23,720 --> 00:29:26,560 Speaker 1: as well. And while you're at it, following me on 557 00:29:26,600 --> 00:29:29,160 Speaker 1: social media just at one Mark Moss. That's at the 558 00:29:29,240 --> 00:29:31,400 Speaker 1: number one Mark Moss and I would love it if 559 00:29:31,400 --> 00:29:34,000 Speaker 1: you sent me a message and let me know you're listening. 560 00:29:34,040 --> 00:29:38,160 Speaker 1: All right, So a one week after announcing a partnership, 561 00:29:38,680 --> 00:29:43,120 Speaker 1: the largest asset manager in the world, let me say 562 00:29:43,120 --> 00:29:45,680 Speaker 1: that again, the largest asset manager in the world ten 563 00:29:46,120 --> 00:29:50,200 Speaker 1: trillion dollars. I'm talking about the big bad, all powerful 564 00:29:50,400 --> 00:29:55,680 Speaker 1: and evil black rock and evil. Uh. They take all 565 00:29:55,720 --> 00:30:00,000 Speaker 1: your money and then they run the world with it. Um. 566 00:30:00,120 --> 00:30:02,960 Speaker 1: Most of the things they do socially I'm not a 567 00:30:02,960 --> 00:30:04,840 Speaker 1: big fan of, you know, like buying up all the 568 00:30:04,840 --> 00:30:07,160 Speaker 1: single family homes across America and driving the prices up 569 00:30:07,200 --> 00:30:08,880 Speaker 1: so most people can't afford home. You know, I'm not 570 00:30:08,960 --> 00:30:12,160 Speaker 1: typically for things like that. I'm not typically for mandating 571 00:30:12,360 --> 00:30:14,600 Speaker 1: uh you know, people get their energy cut off and 572 00:30:14,600 --> 00:30:16,640 Speaker 1: then they die of freezing cold. I'm not typically for 573 00:30:16,680 --> 00:30:19,920 Speaker 1: those types of things. But anyway, black Rock ten shillion 574 00:30:19,960 --> 00:30:22,880 Speaker 1: dollars they announced last week, we talked about it. They 575 00:30:22,880 --> 00:30:25,760 Speaker 1: are doing a partnership with coin base UM to bring 576 00:30:26,040 --> 00:30:31,680 Speaker 1: bitcoin to their institutional investors. Now they're not bringing crypto, 577 00:30:32,960 --> 00:30:36,080 Speaker 1: They're bringing bitcoin. It's a big key, all right, not 578 00:30:36,240 --> 00:30:40,000 Speaker 1: bringing crypto, They're bringing bitcoin. And now I get it. 579 00:30:40,040 --> 00:30:42,080 Speaker 1: There's a lot of people that love cryptocurrency, and that's fine, 580 00:30:42,600 --> 00:30:45,960 Speaker 1: and you want to buy cryptocurrency, that's fine. But black 581 00:30:46,040 --> 00:30:48,520 Speaker 1: Rock is bringing bitcoin. So I'm very clear. I always 582 00:30:48,520 --> 00:30:51,600 Speaker 1: try to say bitcoin, not crypto. One week after announcing 583 00:30:51,600 --> 00:30:54,840 Speaker 1: a partnership with crypto exchange coin Base, black Rock, the 584 00:30:54,880 --> 00:30:58,560 Speaker 1: world's largest asset manager, has launched a spot Bitcoin private 585 00:30:58,560 --> 00:31:03,120 Speaker 1: trust for US based institutional investors UM. This will offer 586 00:31:03,200 --> 00:31:06,080 Speaker 1: direct exposure to bitcoin and track the performance of the 587 00:31:06,120 --> 00:31:09,720 Speaker 1: largest cryptocurrency by market value, and it says despite the 588 00:31:09,760 --> 00:31:12,200 Speaker 1: steep downturn in the digital asset market. We are still 589 00:31:12,200 --> 00:31:16,760 Speaker 1: seeing substantial interest from some institutional clients and how to 590 00:31:16,800 --> 00:31:21,400 Speaker 1: efficiently and cost effectively access these assets using our technology 591 00:31:21,440 --> 00:31:29,120 Speaker 1: and product capabilities. Um it was, yeah, it was last 592 00:31:29,120 --> 00:31:31,800 Speaker 1: week black black rocking coin based announced that mutual institutional 593 00:31:31,800 --> 00:31:34,080 Speaker 1: customers would have access to these assets through black Rocks. 594 00:31:34,080 --> 00:31:36,680 Speaker 1: So we're talking ten trillion dollars. I mean, right now, 595 00:31:36,840 --> 00:31:39,920 Speaker 1: the market cap for bitcoin is somewhere in the range 596 00:31:39,920 --> 00:31:44,600 Speaker 1: of half of one half of one trillion. So let's 597 00:31:44,640 --> 00:31:48,120 Speaker 1: say that there's ten trillion. Let's say that they get um, 598 00:31:48,160 --> 00:31:51,320 Speaker 1: you know, one percent of that or ten percent of that. 599 00:31:51,480 --> 00:31:54,040 Speaker 1: I mean, we're talking a serious number. We could see 600 00:31:54,080 --> 00:31:58,440 Speaker 1: now um mark the market cab of bitcoin is about 601 00:31:58,440 --> 00:32:01,000 Speaker 1: half a trillion. That's the vale valuation. That doesn't mean 602 00:32:01,040 --> 00:32:03,840 Speaker 1: how much money is in. So we could see, for example, 603 00:32:03,880 --> 00:32:07,840 Speaker 1: we could see like um, a hundred billion come into 604 00:32:07,880 --> 00:32:11,120 Speaker 1: the bitcoin ecosystem of actual dollars, like a hundred billion 605 00:32:11,160 --> 00:32:14,120 Speaker 1: dollars come in, but it could drive the value up 606 00:32:14,160 --> 00:32:17,240 Speaker 1: ten times that. So we could see a trillion dollars 607 00:32:17,280 --> 00:32:21,920 Speaker 1: added to the market valuation with only um with only 608 00:32:21,960 --> 00:32:23,920 Speaker 1: a little bit. Man, I think about like real estate 609 00:32:23,960 --> 00:32:27,640 Speaker 1: for example. Right, So let's say that homes are priced 610 00:32:27,680 --> 00:32:30,120 Speaker 1: based off of comparable sales, so whatever the other homes 611 00:32:30,120 --> 00:32:31,560 Speaker 1: sold for. So let's say that there was were in 612 00:32:31,600 --> 00:32:34,000 Speaker 1: a cold stack. They're all track homes, are all identical homes. 613 00:32:34,160 --> 00:32:36,280 Speaker 1: They're all at a hundred thousand dollars for easy numbers. 614 00:32:37,440 --> 00:32:39,360 Speaker 1: I come in and I buy a home for a 615 00:32:39,480 --> 00:32:43,120 Speaker 1: hundred and fifty thousand. Right now, all those other homes 616 00:32:43,160 --> 00:32:46,520 Speaker 1: that are identical, they're all worth a hundred and fifty thousand. Now, well, 617 00:32:46,560 --> 00:32:48,880 Speaker 1: how much did I put down on that house? So 618 00:32:49,080 --> 00:32:50,960 Speaker 1: I bought it for a hundred fifty thousand. Let's say 619 00:32:50,960 --> 00:32:54,600 Speaker 1: I put ten percent down, So I put fifteen thousand 620 00:32:54,680 --> 00:33:00,200 Speaker 1: dollars down, but the ten other homes went up by 621 00:33:00,360 --> 00:33:05,000 Speaker 1: fifty thousand dollars each. So that means that fifty five 622 00:33:05,200 --> 00:33:10,920 Speaker 1: hundred thousand dollars evaluation was added by me putting fifteen 623 00:33:11,000 --> 00:33:13,800 Speaker 1: thousand dollars into the market. So I put fifteen thousand 624 00:33:13,840 --> 00:33:16,040 Speaker 1: and five dollars valuations at it. So that's kind of 625 00:33:16,080 --> 00:33:17,640 Speaker 1: how it works. So they could put in, you know, 626 00:33:17,800 --> 00:33:19,840 Speaker 1: a few billion dollars and get a trillion dollars worth 627 00:33:19,920 --> 00:33:24,160 Speaker 1: of valuation off of that. So when we have black Rock, 628 00:33:24,240 --> 00:33:27,440 Speaker 1: ten trillion dollars. Could we get a few billion, a 629 00:33:27,520 --> 00:33:30,920 Speaker 1: few hundred billion, And the answer is, I think we 630 00:33:31,000 --> 00:33:33,840 Speaker 1: certainly could. Another big piece that I saw this week 631 00:33:33,920 --> 00:33:36,520 Speaker 1: is that, um, you know, bitcoin has been trading like 632 00:33:36,560 --> 00:33:38,640 Speaker 1: a risk on asset. We've been seeing it trade, you know, 633 00:33:38,840 --> 00:33:41,920 Speaker 1: pretty lockstep with the Nasdaq, which are the tech stocks, 634 00:33:42,000 --> 00:33:45,000 Speaker 1: the risk stocks, and it has been trading like that. 635 00:33:45,120 --> 00:33:47,000 Speaker 1: But I say that Bitcoin has been trading like a 636 00:33:47,040 --> 00:33:49,520 Speaker 1: tech stock, but it's not a tech stock. So it 637 00:33:49,680 --> 00:33:52,720 Speaker 1: has been, but that's not what it is. And it's 638 00:33:52,760 --> 00:33:55,480 Speaker 1: been a nine correlation. It's been coming down. It's a 639 00:33:55,480 --> 00:33:58,520 Speaker 1: little bit below ninety now, um, And so ninety percent 640 00:33:58,640 --> 00:34:00,840 Speaker 1: time or eight percent of time it is correlated with 641 00:34:01,000 --> 00:34:04,760 Speaker 1: with the NASDAC, but the ten or time when it's 642 00:34:04,880 --> 00:34:08,680 Speaker 1: not correlated, when it has all the big moves. But again, 643 00:34:08,800 --> 00:34:12,239 Speaker 1: it's not a tech stock. We know that. I know that, 644 00:34:12,560 --> 00:34:15,120 Speaker 1: I think you know that. That's our edge. But we 645 00:34:15,480 --> 00:34:17,000 Speaker 1: are seeing more people come around to that. And so 646 00:34:17,080 --> 00:34:21,080 Speaker 1: this week we saw Mike McGlone, a senior commodity strategist 647 00:34:21,120 --> 00:34:25,719 Speaker 1: at Bloomberg pretty good credentials there. Um. He says that 648 00:34:26,040 --> 00:34:29,120 Speaker 1: bitcoin is likely to transition from a risk on to 649 00:34:29,280 --> 00:34:33,799 Speaker 1: a risk off asset in the second half of this year, 650 00:34:34,520 --> 00:34:37,440 Speaker 1: as the macroeconomic environment is rapidly shifting towards a recession. 651 00:34:38,400 --> 00:34:41,200 Speaker 1: He says that I see it transitioning to be a 652 00:34:41,280 --> 00:34:44,080 Speaker 1: more of a risk off asset like bonds and gold 653 00:34:44,280 --> 00:34:47,239 Speaker 1: than a risk on asset like a stock market. So 654 00:34:47,320 --> 00:34:49,239 Speaker 1: what does that mean? So that means that bitcoin could 655 00:34:49,280 --> 00:34:52,839 Speaker 1: do really, really good in a risk on environment, which 656 00:34:52,920 --> 00:34:56,000 Speaker 1: is an inflationary environment where stocks are going up, or 657 00:34:56,080 --> 00:34:58,440 Speaker 1: it could also do good in a risk off environment 658 00:34:58,520 --> 00:35:01,840 Speaker 1: where the market's going down, like golden bonds would do. 659 00:35:03,320 --> 00:35:07,200 Speaker 1: Mm hmm. Now, I'll let you read between the lines, 660 00:35:07,320 --> 00:35:11,440 Speaker 1: but it sounds like to me. Mr Mike McLane, commodity 661 00:35:11,520 --> 00:35:14,879 Speaker 1: expert from Bloomberg, is saying that bitcoin is gonna do good. 662 00:35:15,320 --> 00:35:17,279 Speaker 1: It's gonna do good in a risk on environment, It's 663 00:35:17,280 --> 00:35:19,000 Speaker 1: going to do good in a risk off environment, and 664 00:35:19,120 --> 00:35:23,600 Speaker 1: either way, it's gonna do good. Um. So I like 665 00:35:23,719 --> 00:35:26,080 Speaker 1: that and I would agree. Um again, I know that 666 00:35:26,160 --> 00:35:29,440 Speaker 1: bitcoin is not a tech stock trades like that, but 667 00:35:29,560 --> 00:35:32,680 Speaker 1: that's our edge. The market hasn't really woken up to 668 00:35:32,760 --> 00:35:36,320 Speaker 1: that right now. But again, that's the new system being born, 669 00:35:36,680 --> 00:35:38,360 Speaker 1: but we still have the old system that's hanging on 670 00:35:38,480 --> 00:35:40,239 Speaker 1: and doesn't want to just die yet. And as a 671 00:35:40,320 --> 00:35:43,239 Speaker 1: matter of fact, an interesting point I saw here was 672 00:35:43,360 --> 00:35:47,000 Speaker 1: the two U S senators, of course, our two most 673 00:35:47,120 --> 00:35:51,080 Speaker 1: communist socialist senators that we have talking about a good 674 00:35:51,120 --> 00:35:53,919 Speaker 1: old Bernie Sanders, who, of course I'm putting on putting 675 00:35:53,960 --> 00:35:56,200 Speaker 1: words in his mouth, ran on being a socialist, that's 676 00:35:56,239 --> 00:35:59,080 Speaker 1: his platform, he ran on, and Elizabeth Warren. They ask 677 00:35:59,200 --> 00:36:03,800 Speaker 1: key bank reag leaders to resend their crypto guidance. A 678 00:36:03,880 --> 00:36:06,880 Speaker 1: while Makers asked a series of banks to who are 679 00:36:06,920 --> 00:36:09,520 Speaker 1: involved in crypto, So they want to resend. Hey, we 680 00:36:09,680 --> 00:36:11,560 Speaker 1: know that we told you it was okay to be 681 00:36:11,640 --> 00:36:14,480 Speaker 1: involved in crypto, but we well send that now we 682 00:36:14,640 --> 00:36:16,560 Speaker 1: want to reject what we said. We want to go 683 00:36:16,760 --> 00:36:19,239 Speaker 1: back on what we said. And it's it's the new 684 00:36:19,760 --> 00:36:23,200 Speaker 1: Comptroller of the Currency, Michael Seu. They're asking him to 685 00:36:23,360 --> 00:36:27,640 Speaker 1: resend it from what the previous controller, Brian Brooks had done. 686 00:36:28,880 --> 00:36:31,600 Speaker 1: So all these banks that are making money, providing crypto 687 00:36:31,640 --> 00:36:35,000 Speaker 1: custody services, issuing payments, stable coins, all that, Nope, that 688 00:36:35,080 --> 00:36:38,560 Speaker 1: all needs to be taken back, um because of you know, 689 00:36:38,760 --> 00:36:41,239 Speaker 1: the risks, the risks that we have. We have to 690 00:36:41,320 --> 00:36:43,399 Speaker 1: protect everything now I'm just gonna let you know. There's 691 00:36:43,440 --> 00:36:46,319 Speaker 1: ten points in Carl Marx's book, The Communs Manifesto, ten 692 00:36:46,400 --> 00:36:50,360 Speaker 1: points of how to install communism. Point number five is 693 00:36:50,520 --> 00:36:56,360 Speaker 1: control all means of credit and money creation. So you know, 694 00:36:56,480 --> 00:36:58,560 Speaker 1: of course under communism they can't allow anybody else to 695 00:36:58,600 --> 00:37:01,239 Speaker 1: control the money. But that's system is dying. You listening 696 00:37:01,239 --> 00:37:03,840 Speaker 1: to the markmas Show, we're talking about the decentralized revolution. 697 00:37:03,920 --> 00:37:07,080 Speaker 1: One system dying, one system being born. It's exciting, it's 698 00:37:07,080 --> 00:37:10,080 Speaker 1: an exciting time to be alive. Hopefully you enjoy those 699 00:37:10,120 --> 00:37:12,120 Speaker 1: news stories that we got this week. Check it out 700 00:37:12,120 --> 00:37:14,759 Speaker 1: on the podcast Mark Moss Podcast. And that's what I 701 00:37:14,800 --> 00:37:16,040 Speaker 1: got for you to day. Thanks so much for listening.