1 00:00:00,240 --> 00:00:02,480 Speaker 1: Hello, and welcome back to another episode of The Mark 2 00:00:02,520 --> 00:00:05,480 Speaker 1: Mass Show, where we talk about the decentralized revolution. Of course, 3 00:00:05,480 --> 00:00:08,639 Speaker 1: how the world is changing, of course, is right before 4 00:00:08,640 --> 00:00:11,079 Speaker 1: our very eyes, going from a world of centralization and 5 00:00:11,119 --> 00:00:14,560 Speaker 1: decentralization as we look at it through the lens of politics, finance, 6 00:00:14,720 --> 00:00:18,040 Speaker 1: and technology. Of course, it's always technology that changes the world, 7 00:00:18,600 --> 00:00:22,240 Speaker 1: and that technology is bitcoin that is changing everything as 8 00:00:22,239 --> 00:00:23,600 Speaker 1: we know it. But we want to look at all 9 00:00:23,640 --> 00:00:26,040 Speaker 1: three of those subjects to really get context of what's 10 00:00:26,079 --> 00:00:29,400 Speaker 1: going on so we can understand what is happening. So, 11 00:00:29,680 --> 00:00:31,280 Speaker 1: you know, I was looking through some of these news 12 00:00:31,360 --> 00:00:34,599 Speaker 1: headlines this week, and boy, it has been crazy. I 13 00:00:34,600 --> 00:00:36,360 Speaker 1: brought in my buddy Q to come in and kind 14 00:00:36,400 --> 00:00:39,280 Speaker 1: of help dissect some of these What's up, Q and 15 00:00:39,720 --> 00:00:41,680 Speaker 1: Mar thank you for having me. Yeah, man, I thought, 16 00:00:41,720 --> 00:00:43,199 Speaker 1: you know, we just run through these. Q and I 17 00:00:43,280 --> 00:00:45,520 Speaker 1: just worked the news desk together in Miami last week 18 00:00:45,520 --> 00:00:47,960 Speaker 1: and uh, at the bitcoin conference. It was a lot 19 00:00:47,960 --> 00:00:49,720 Speaker 1: of fun. So I thought we'd maybe do that do 20 00:00:49,800 --> 00:00:52,080 Speaker 1: that again here on this show, and you know, Q, man, 21 00:00:52,159 --> 00:00:54,320 Speaker 1: it has been crazy this week. The big debate was 22 00:00:54,360 --> 00:00:57,400 Speaker 1: this debt ceiling going on, and it kind of came 23 00:00:57,480 --> 00:01:01,040 Speaker 1: down to the last minute, looking like maybe deal wouldn't happen. 24 00:01:01,080 --> 00:01:03,720 Speaker 1: I thought that maybe the Republicans would kind of hold 25 00:01:03,720 --> 00:01:06,440 Speaker 1: on a little bit better. But they seem to just 26 00:01:07,400 --> 00:01:10,320 Speaker 1: absolutely cave is what it looked like. They gave up 27 00:01:10,360 --> 00:01:15,800 Speaker 1: almost nothing back. Basically, we have no cap anymore. I mean, 28 00:01:15,840 --> 00:01:19,039 Speaker 1: now there's we went from four trillion spending pre pandemic 29 00:01:19,040 --> 00:01:21,760 Speaker 1: to six trillion spending, so now that's the new normal baseline. 30 00:01:21,800 --> 00:01:23,760 Speaker 1: We're not even going back to that, and now we 31 00:01:23,800 --> 00:01:27,280 Speaker 1: have this unlimited cap and they pushed it out the 32 00:01:27,319 --> 00:01:29,240 Speaker 1: next one. A lot of times they'll kick the debt 33 00:01:29,240 --> 00:01:32,800 Speaker 1: selling debate down a year, maybe two years. They decided 34 00:01:32,840 --> 00:01:36,119 Speaker 1: to push this through January twenty one, twenty point five, 35 00:01:36,120 --> 00:01:40,160 Speaker 1: which is after Biden's next election, and then the big 36 00:01:40,200 --> 00:01:42,280 Speaker 1: one that I hated to see was only one point 37 00:01:42,319 --> 00:01:45,240 Speaker 1: four billion of the eighty billion going to new IRS 38 00:01:45,280 --> 00:01:47,560 Speaker 1: agents got carved out. I mean, was this just an 39 00:01:47,560 --> 00:01:48,680 Speaker 1: absolute cave or what? 40 00:01:50,560 --> 00:01:53,920 Speaker 2: I definitely think that. Unfortunately for the Republicans, they seem 41 00:01:53,960 --> 00:01:56,200 Speaker 2: to have just lost their eye on the ball. You 42 00:01:56,200 --> 00:01:58,560 Speaker 2: said it best like there's no salary cap. As a 43 00:01:58,560 --> 00:02:01,000 Speaker 2: sports guy, could you imagine Jay and all of a sudden, 44 00:02:01,960 --> 00:02:04,760 Speaker 2: your favorite NFL team and then their rival. Just you 45 00:02:04,760 --> 00:02:09,000 Speaker 2: can outbid anyone you could ever want, and you are 46 00:02:09,120 --> 00:02:12,600 Speaker 2: doing this repeatedly to a point where unfortunately you're losing credibility. 47 00:02:12,919 --> 00:02:15,839 Speaker 2: The Republicans were expecting a red wave during the twenty 48 00:02:15,880 --> 00:02:19,240 Speaker 2: twenty two election. Unfortunately didn't necessarily win as many seats 49 00:02:19,280 --> 00:02:21,680 Speaker 2: as they wanted, especially not in the Senate, and they 50 00:02:21,680 --> 00:02:24,520 Speaker 2: at least got the House. But unfortunately, now that they 51 00:02:24,560 --> 00:02:26,280 Speaker 2: got the House, they didn't follow through on some of 52 00:02:26,320 --> 00:02:28,639 Speaker 2: their promises. We'll talk about this a little bit more, 53 00:02:28,680 --> 00:02:30,679 Speaker 2: but I think this really just opens the door for 54 00:02:30,840 --> 00:02:32,000 Speaker 2: Trump in twenty twenty four. 55 00:02:32,800 --> 00:02:35,200 Speaker 1: Yeah. Maybe, you know. The one thing I see is, 56 00:02:35,240 --> 00:02:37,799 Speaker 1: you know, I know, both of us we have different views. 57 00:02:37,880 --> 00:02:40,239 Speaker 1: Everyone's had different views, and that's okay. I just think 58 00:02:40,280 --> 00:02:41,960 Speaker 1: it's like, man, I look at a bunch of the 59 00:02:41,960 --> 00:02:44,920 Speaker 1: polls and like the American people did not want the 60 00:02:45,040 --> 00:02:47,720 Speaker 1: debts to be lifted. They didn't want that, that's what 61 00:02:47,760 --> 00:02:50,480 Speaker 1: the people wanted. And then you have you know, both 62 00:02:50,720 --> 00:02:54,040 Speaker 1: both red and Blue both went in and just just 63 00:02:54,080 --> 00:02:56,760 Speaker 1: did it right. And it's like they're not really taking 64 00:02:56,840 --> 00:02:59,600 Speaker 1: in the will of the people. It seems like, and 65 00:03:00,240 --> 00:03:02,320 Speaker 1: you know, I'm afraid. I'm afraid of what this means 66 00:03:02,320 --> 00:03:05,079 Speaker 1: with this unlimited spending bill. And a couple of things 67 00:03:05,080 --> 00:03:06,800 Speaker 1: that I saw too that I that I thought was 68 00:03:07,160 --> 00:03:10,000 Speaker 1: pretty pretty interesting, is, you know, one of the big 69 00:03:10,040 --> 00:03:12,840 Speaker 1: problems that we have is we have these lawmakers making 70 00:03:12,960 --> 00:03:16,200 Speaker 1: laws that don't seem to read the laws. We had 71 00:03:16,240 --> 00:03:18,840 Speaker 1: like this omnibus bill that went through where they basically 72 00:03:18,880 --> 00:03:22,960 Speaker 1: brought in four thousand pages right before Christmas break and 73 00:03:23,000 --> 00:03:25,440 Speaker 1: said you have to like sign this whole thing. And 74 00:03:25,480 --> 00:03:27,360 Speaker 1: then in that thing is there's like full of like 75 00:03:27,400 --> 00:03:29,919 Speaker 1: all kinds of garbage that nobody would vote for if 76 00:03:29,919 --> 00:03:31,880 Speaker 1: they had the time to kind of read it. And 77 00:03:31,880 --> 00:03:34,560 Speaker 1: that's kind of what they do over and over. And 78 00:03:34,600 --> 00:03:36,400 Speaker 1: as I was reading through this, it looks like it 79 00:03:36,480 --> 00:03:39,560 Speaker 1: even opens up the door to get more of that done. 80 00:03:39,720 --> 00:03:43,440 Speaker 1: So again, in this bill, it's not just about how 81 00:03:43,520 --> 00:03:46,120 Speaker 1: much do we raise the debt ceiling. There's like all 82 00:03:46,200 --> 00:03:48,960 Speaker 1: types of concessions that go in there, and one of 83 00:03:49,000 --> 00:03:51,440 Speaker 1: them was even opening up the door for the omnibus bill. 84 00:03:51,720 --> 00:03:54,440 Speaker 1: So it just seems like at a time when the 85 00:03:54,480 --> 00:03:59,440 Speaker 1: American people seem to be hurting, you know, inflation has 86 00:03:59,440 --> 00:04:01,240 Speaker 1: been raged, and that seems to be the big topic 87 00:04:01,280 --> 00:04:04,920 Speaker 1: that they're trying to supposedly take care of. Then they 88 00:04:04,960 --> 00:04:07,440 Speaker 1: didn't take into consideration what the people wanted, and they 89 00:04:07,480 --> 00:04:08,680 Speaker 1: just rammed in more spending. 90 00:04:10,360 --> 00:04:13,280 Speaker 2: I mean, it's tough to ask people who get to 91 00:04:13,320 --> 00:04:15,760 Speaker 2: make their own budgets, make their own salaries, then go 92 00:04:15,800 --> 00:04:18,839 Speaker 2: and actually, you know, have a little austerity around finances. 93 00:04:18,880 --> 00:04:22,320 Speaker 2: But I do think this opened the door for a 94 00:04:22,360 --> 00:04:25,000 Speaker 2: lot of presidential candidate to run on a platform of 95 00:04:25,040 --> 00:04:28,760 Speaker 2: financial austerity and have a stricter budget. That will be 96 00:04:28,800 --> 00:04:31,280 Speaker 2: a main talking point I think for the next year 97 00:04:31,320 --> 00:04:34,919 Speaker 2: and a half leading into this presidential election. Unfortunately, to 98 00:04:34,960 --> 00:04:36,680 Speaker 2: your point, like the American people, they don't want the 99 00:04:36,720 --> 00:04:40,159 Speaker 2: dead ceiling raised, they want the budget handled. This is 100 00:04:40,200 --> 00:04:42,360 Speaker 2: their job, this is the job of lawmakers to hey, 101 00:04:42,600 --> 00:04:45,719 Speaker 2: you have more than enough money. We are talking trillions 102 00:04:45,760 --> 00:04:48,000 Speaker 2: and trillions of dollars of a budget, and you're telling 103 00:04:48,080 --> 00:04:50,200 Speaker 2: me you couldn't have figured this out without raising the 104 00:04:50,240 --> 00:04:53,120 Speaker 2: budget ceiling. You couldn't have figured this out by Hey, 105 00:04:53,160 --> 00:04:55,120 Speaker 2: maybe we need to cut spending in certain areas that 106 00:04:55,440 --> 00:04:57,320 Speaker 2: we shouldn't be spending as much, like I don't know, 107 00:04:57,480 --> 00:05:02,040 Speaker 2: sending all of this aid money to Ukraine for some reason, do. 108 00:05:02,000 --> 00:05:04,760 Speaker 1: You think though that, like, because the problem with politics 109 00:05:04,839 --> 00:05:08,440 Speaker 1: is like you're promising favors, right, I mean, unfortunately today 110 00:05:09,360 --> 00:05:11,839 Speaker 1: you're buying votes, is what you're doing. And so like, 111 00:05:12,400 --> 00:05:16,800 Speaker 1: how could any politician win on a campaign of austerity? 112 00:05:16,880 --> 00:05:18,360 Speaker 1: So for people that don't know what that word means, 113 00:05:18,400 --> 00:05:20,880 Speaker 1: it's but basically means living within your means, like living 114 00:05:20,880 --> 00:05:23,279 Speaker 1: on a budget. So in order to do that, they're 115 00:05:23,279 --> 00:05:26,080 Speaker 1: going to have to cut spending, to your point, And 116 00:05:26,120 --> 00:05:29,320 Speaker 1: so how could any politician actually get elected on a 117 00:05:29,360 --> 00:05:32,280 Speaker 1: campaign to take away money from somebody? Like, that's gonna 118 00:05:32,279 --> 00:05:32,599 Speaker 1: be tough. 119 00:05:33,600 --> 00:05:36,479 Speaker 2: You do it the exact way every politician gets elected. 120 00:05:36,720 --> 00:05:38,359 Speaker 2: Your prom is a whole lot of lives that you 121 00:05:38,400 --> 00:05:40,839 Speaker 2: don't you don't you don't follow through on the campaign 122 00:05:40,839 --> 00:05:44,240 Speaker 2: promises like that. That's unfortunately just the recipe that we need. 123 00:05:44,279 --> 00:05:47,440 Speaker 2: We need a politician to take charge in that way. Unfortunately. 124 00:05:48,680 --> 00:05:50,800 Speaker 1: Yeah, I mean, I think to your point, I think, 125 00:05:51,040 --> 00:05:53,039 Speaker 1: you know, obviously to the point I think was sixty 126 00:05:53,040 --> 00:05:54,839 Speaker 1: six percent of American people said that they did not 127 00:05:55,080 --> 00:05:57,520 Speaker 1: support the debt cillion increase. And I think a couple 128 00:05:57,600 --> 00:05:58,919 Speaker 1: things you have to kind of keep in mind is 129 00:05:58,920 --> 00:06:01,800 Speaker 1: so as I already said, we already because of the pandemic, 130 00:06:01,800 --> 00:06:04,720 Speaker 1: we already increased the budget from four trillion to six trillion. 131 00:06:05,560 --> 00:06:09,560 Speaker 1: That's a fifty percent increase. Like we couldn't just go 132 00:06:09,680 --> 00:06:12,000 Speaker 1: back to where we were pre pandemic, because it seemed 133 00:06:12,000 --> 00:06:14,320 Speaker 1: to me in twenty nineteen it wasn't like the end 134 00:06:14,360 --> 00:06:17,040 Speaker 1: of the world, like the Biden administration was saying, if 135 00:06:17,080 --> 00:06:19,200 Speaker 1: we don't get this past, eight million people are gonna 136 00:06:19,200 --> 00:06:23,400 Speaker 1: lose your job. Why because eight million people got hired 137 00:06:23,440 --> 00:06:26,320 Speaker 1: and the least like why is that? Like why does 138 00:06:26,360 --> 00:06:28,240 Speaker 1: the world end? Like why can't we just go back 139 00:06:28,240 --> 00:06:31,680 Speaker 1: to where we were two years ago? Or even more importantly, 140 00:06:32,000 --> 00:06:34,120 Speaker 1: this is about you know, the Republicans are like, oh, 141 00:06:34,120 --> 00:06:37,400 Speaker 1: we're slashing the deficit by one point five trillion over 142 00:06:37,440 --> 00:06:40,719 Speaker 1: the next ten years, and that's based off of the 143 00:06:40,839 --> 00:06:43,440 Speaker 1: projection of it growing. So none of it actually had 144 00:06:43,440 --> 00:06:46,760 Speaker 1: anything to do with cutting actually reducing the spending. It 145 00:06:46,800 --> 00:06:49,960 Speaker 1: was about cutting from future growth. So maybe you're right, 146 00:06:50,000 --> 00:06:52,320 Speaker 1: Maybe the American people are go could go, look like, 147 00:06:52,600 --> 00:06:55,600 Speaker 1: don't take away my money, but let's just not spend anymore. 148 00:06:56,279 --> 00:06:59,640 Speaker 2: Maybe like it could be something as simple as that. 149 00:06:59,720 --> 00:07:02,880 Speaker 2: But you know, ultimately, unfortunately, like we'll talk about this, 150 00:07:02,920 --> 00:07:06,960 Speaker 2: I think towards the economic segment. But I'm sure you 151 00:07:07,000 --> 00:07:09,320 Speaker 2: saw this story months ago about people who make six 152 00:07:09,360 --> 00:07:11,440 Speaker 2: figures but they live paycheck to paycheck, And this is 153 00:07:11,440 --> 00:07:14,560 Speaker 2: becoming a theme for Americans unfortunately, to not have enough 154 00:07:14,560 --> 00:07:17,760 Speaker 2: financial education. And it looks like our lawmakers lack that 155 00:07:17,800 --> 00:07:20,440 Speaker 2: financial education, and yet somehow are put in charge of 156 00:07:20,840 --> 00:07:22,880 Speaker 2: the entire monetary policy of our country. 157 00:07:23,400 --> 00:07:26,320 Speaker 1: Yeah, now we've gotten down to the wire on debt 158 00:07:26,320 --> 00:07:29,760 Speaker 1: ceiling limits. Before twenty eleven twenty thirteen were both pretty 159 00:07:29,840 --> 00:07:33,440 Speaker 1: vicious confrontations in regards to that. In twenty eleven, a 160 00:07:33,480 --> 00:07:36,000 Speaker 1: deal was made at the last minute, and of course 161 00:07:36,000 --> 00:07:38,480 Speaker 1: it sent the S and P five hundred down seventeen percent, 162 00:07:38,920 --> 00:07:41,320 Speaker 1: Wrestle Index down by twenty six percent, and so a 163 00:07:41,320 --> 00:07:43,000 Speaker 1: lot of times this is bad. And we know that 164 00:07:43,320 --> 00:07:45,800 Speaker 1: now the Treasury, which has almost no money, has to 165 00:07:45,800 --> 00:07:50,120 Speaker 1: go fill a trillion dollars worth of treasuries. They're going 166 00:07:50,200 --> 00:07:52,360 Speaker 1: to have to re sell it trillion dollars withorth the 167 00:07:52,560 --> 00:07:55,160 Speaker 1: treasuries into the market. In the next thirty days five 168 00:07:55,200 --> 00:07:58,200 Speaker 1: hundred billion goes into their bank account the TGA. That 169 00:07:58,240 --> 00:08:00,480 Speaker 1: could create quite a liquidity shock. I mean, they're sucking 170 00:08:00,480 --> 00:08:03,600 Speaker 1: a trillion dollars out of the market. That's taking money 171 00:08:03,600 --> 00:08:06,480 Speaker 1: that was going to something else. So I mean, this 172 00:08:06,560 --> 00:08:08,280 Speaker 1: could potentially be a repeat of what we saw in 173 00:08:08,320 --> 00:08:10,040 Speaker 1: twenty eleven with a big crash coming. 174 00:08:11,320 --> 00:08:15,160 Speaker 2: No, I frankly, I'm setting myself up in my portfolios 175 00:08:15,240 --> 00:08:18,480 Speaker 2: for a nice little downtake on anything and everything from 176 00:08:18,560 --> 00:08:21,360 Speaker 2: bitcoin down to public markets in equities. Like you're going 177 00:08:21,400 --> 00:08:23,200 Speaker 2: to feel the effects of this over the course of 178 00:08:23,200 --> 00:08:23,640 Speaker 2: the summer. 179 00:08:24,440 --> 00:08:26,280 Speaker 1: Yeah, yeah, I mean, like I said, I mean, in 180 00:08:26,360 --> 00:08:29,080 Speaker 1: times past, it created a lot of turmoil in the market. 181 00:08:30,120 --> 00:08:32,320 Speaker 1: You know, I did a video on my main YouTube channel, 182 00:08:32,400 --> 00:08:34,640 Speaker 1: just search Mark Moss on YouTube, and I kind of 183 00:08:34,640 --> 00:08:36,800 Speaker 1: broke this down into the math to kind of show 184 00:08:36,800 --> 00:08:39,120 Speaker 1: the liquidity shock that happens. But when you take a 185 00:08:39,160 --> 00:08:42,480 Speaker 1: trillion dollars out of the market that's coming from somewhere else, 186 00:08:42,679 --> 00:08:45,520 Speaker 1: somewhere else that would have gone into Apple or in 187 00:08:45,679 --> 00:08:48,280 Speaker 1: video stock, or gone into bitcoin, or gone into real 188 00:08:48,360 --> 00:08:51,320 Speaker 1: estate or whatever, and here it is just going to 189 00:08:51,440 --> 00:08:54,520 Speaker 1: suck all that liquidity out of the market. And that 190 00:08:54,559 --> 00:08:57,480 Speaker 1: could be really, really bad, which is why specifically it's 191 00:08:57,520 --> 00:08:59,600 Speaker 1: bad for risk assets, which is why in the past 192 00:08:59,640 --> 00:09:01,840 Speaker 1: the RUSS went down way more than the S and 193 00:09:01,840 --> 00:09:04,440 Speaker 1: P five hundred. So I would say be prepared for 194 00:09:04,520 --> 00:09:08,679 Speaker 1: fireworks because this is not over by a long shot. 195 00:09:08,840 --> 00:09:10,560 Speaker 1: If you just tune in, you're listening to the Mark 196 00:09:10,600 --> 00:09:13,240 Speaker 1: Moas Show. We're talking about the decentralized Revolution, and we're 197 00:09:13,280 --> 00:09:16,760 Speaker 1: running through the latest breaking news headlines this week so 198 00:09:16,800 --> 00:09:18,840 Speaker 1: you can stay on top of what's going on. We're 199 00:09:18,880 --> 00:09:21,959 Speaker 1: back more talking about bitcoin, crypto, the economy and more. 200 00:09:22,040 --> 00:09:24,640 Speaker 1: Don't go away, be right back, all right, welcome back. 201 00:09:24,640 --> 00:09:26,320 Speaker 1: If you just tune in, you are listening to the 202 00:09:26,360 --> 00:09:30,840 Speaker 1: Mark mass Show. We're talking about, of course, the decentralized Revolution. 203 00:09:30,920 --> 00:09:33,200 Speaker 1: Like each and every week, we're talking through the latest 204 00:09:33,240 --> 00:09:36,040 Speaker 1: breaking news headlines of the week, so you can keep 205 00:09:36,080 --> 00:09:37,440 Speaker 1: on top of what's going on. If we look at 206 00:09:37,440 --> 00:09:40,640 Speaker 1: through lens of politics, finance, and technology. Now, one thing 207 00:09:40,679 --> 00:09:42,559 Speaker 1: that's happening big. You know I always talk about the 208 00:09:42,559 --> 00:09:44,959 Speaker 1: technology piece. It's bitcoin that's changing the world. And when 209 00:09:44,960 --> 00:09:48,840 Speaker 1: you look at the bitcoin and the crypto ecosystem at large, 210 00:09:49,240 --> 00:09:52,439 Speaker 1: I mean it is coming front and center to the 211 00:09:52,640 --> 00:09:56,640 Speaker 1: entire world, specifically in the United States as we're heading 212 00:09:56,679 --> 00:09:59,720 Speaker 1: into this election cycle. And you know, last week I 213 00:09:59,760 --> 00:10:02,280 Speaker 1: was at the Bitcoin conference in Miami. I talked about 214 00:10:02,280 --> 00:10:04,400 Speaker 1: that on the radio show last week, and we have 215 00:10:05,280 --> 00:10:08,480 Speaker 1: we had two presidential candidates they're talking about it, and 216 00:10:08,520 --> 00:10:11,040 Speaker 1: now we have a third presidential candidate talking about it, 217 00:10:11,360 --> 00:10:14,240 Speaker 1: and it looks like it has come front and center 218 00:10:14,320 --> 00:10:17,319 Speaker 1: and could be a deciding point in this next election. 219 00:10:17,760 --> 00:10:22,920 Speaker 1: You have the incumbent President Biden, who is anti The 220 00:10:22,920 --> 00:10:27,800 Speaker 1: Biden administration is squeezing the emergency, the emerging crypto business, 221 00:10:27,840 --> 00:10:31,040 Speaker 1: you know, Operation Choke point two point zero. They you know, 222 00:10:31,120 --> 00:10:33,480 Speaker 1: with him and Elizabeth Warren and Gary ginswel they want 223 00:10:33,520 --> 00:10:36,280 Speaker 1: to get rid of all technology, all cryptocurrencies, and an 224 00:10:36,320 --> 00:10:39,439 Speaker 1: actor CBDC the tool for control. And then we have 225 00:10:39,559 --> 00:10:43,360 Speaker 1: Ron DeSantis who came out and he said that he said, quote, 226 00:10:43,480 --> 00:10:46,360 Speaker 1: the regime clearly has it out for bitcoin. Bitcoin represents 227 00:10:46,400 --> 00:10:48,400 Speaker 1: a threat to them. They're trying to regulate it out 228 00:10:48,400 --> 00:10:53,240 Speaker 1: of existence. So he DeSantis wants to let bitcoin run free, 229 00:10:53,600 --> 00:10:56,800 Speaker 1: and he's also banning cbdc's But then on the other 230 00:10:56,840 --> 00:10:58,600 Speaker 1: side of the aisle, on the left, on the on 231 00:10:58,640 --> 00:11:02,560 Speaker 1: the Democrats, that we have RFQ, and he came and 232 00:11:02,640 --> 00:11:04,400 Speaker 1: he wrote in a tweet earlier this month, it's a 233 00:11:04,440 --> 00:11:06,560 Speaker 1: mistake for the US government to hobbled industry and drive 234 00:11:06,559 --> 00:11:10,559 Speaker 1: innovation elsewhere. So he is pro bitcoin, and then another 235 00:11:10,559 --> 00:11:13,760 Speaker 1: one on the Republican side, Vic Ramaswami. He's also pro bitcoin. 236 00:11:14,320 --> 00:11:16,680 Speaker 1: He sees as the centralized alternative to the US dollar, 237 00:11:16,720 --> 00:11:20,199 Speaker 1: improving the country's financial infrastructure by presenting quote a source 238 00:11:20,240 --> 00:11:24,000 Speaker 1: of competition to the existing system. I think competition is 239 00:11:24,000 --> 00:11:26,120 Speaker 1: always a good thing. C What do you think about 240 00:11:26,120 --> 00:11:30,880 Speaker 1: this showdown happening really from both sides and bringing this 241 00:11:30,920 --> 00:11:31,600 Speaker 1: front and center. 242 00:11:32,720 --> 00:11:35,280 Speaker 2: I got two main thoughts on this, and I'll start 243 00:11:35,280 --> 00:11:37,800 Speaker 2: with my first, which alludes to what I've said earlier 244 00:11:37,840 --> 00:11:40,280 Speaker 2: to you. I'll believe it when I see it. I 245 00:11:40,280 --> 00:11:43,440 Speaker 2: don't care what politicians are saying pro bitcoin or not. 246 00:11:43,559 --> 00:11:45,760 Speaker 2: I think there's a lot of pandering going on. We've 247 00:11:45,800 --> 00:11:48,720 Speaker 2: seen it time and time again. So unless I actually 248 00:11:48,800 --> 00:11:51,960 Speaker 2: see some clear cut legislation, I'm just going to take it, 249 00:11:52,080 --> 00:11:54,440 Speaker 2: take them at their word, and leave it there. But 250 00:11:54,520 --> 00:11:57,240 Speaker 2: I think it's really disappointing to see in America, of 251 00:11:57,280 --> 00:12:01,640 Speaker 2: all places, technology and innovation being stifled rather than you know, 252 00:12:01,800 --> 00:12:03,600 Speaker 2: having a little bit of fuel thrown on the fire 253 00:12:03,640 --> 00:12:05,680 Speaker 2: and giving it space to grow and turn into what 254 00:12:05,760 --> 00:12:08,240 Speaker 2: it could blossom into being on the forefront of this 255 00:12:08,240 --> 00:12:11,800 Speaker 2: cutting edge technology and leading it not only in this country, 256 00:12:11,960 --> 00:12:14,320 Speaker 2: but leading it globally in around the world. We have 257 00:12:14,400 --> 00:12:17,480 Speaker 2: that opportunity to do that, especially with bitcoin, and then 258 00:12:17,520 --> 00:12:20,000 Speaker 2: you have the Biden administration sort of turning their back 259 00:12:20,160 --> 00:12:23,280 Speaker 2: because for whatever the reason may be, they think it's 260 00:12:23,559 --> 00:12:26,280 Speaker 2: the right thing to do in the right move. Ultimately 261 00:12:26,400 --> 00:12:29,440 Speaker 2: it won't matter. China is the perfect example of trying 262 00:12:29,440 --> 00:12:31,520 Speaker 2: to ban bitcoin and they still have a hash rate, 263 00:12:31,559 --> 00:12:34,800 Speaker 2: they still are mining bitcoin, and it's still prospering globally. 264 00:12:34,440 --> 00:12:37,319 Speaker 1: In the world. Now, yeah, I mean it's just crazy. 265 00:12:38,320 --> 00:12:38,520 Speaker 2: You know. 266 00:12:39,000 --> 00:12:43,960 Speaker 1: Elizabeth Warren, she's literally running on an anti crypto campaign 267 00:12:44,040 --> 00:12:49,040 Speaker 1: to literally make crypto currency illegal. And I actually asked 268 00:12:49,080 --> 00:12:52,120 Speaker 1: chat TPT this question because I couldn't think of an answer, 269 00:12:52,160 --> 00:12:55,559 Speaker 1: and I said, said something to the effect of what 270 00:12:57,080 --> 00:13:00,839 Speaker 1: in the in the United States, which candidate has ever 271 00:13:00,920 --> 00:13:04,840 Speaker 1: run on a campaign to take away people's ability to 272 00:13:04,920 --> 00:13:09,520 Speaker 1: choose or take away people's freedom. And chat GBT said none. 273 00:13:09,880 --> 00:13:13,600 Speaker 1: Chat GBT said no, nobody. No politician would run on 274 00:13:13,640 --> 00:13:17,000 Speaker 1: a campaign in America that's based off of freedom. Would 275 00:13:17,000 --> 00:13:18,440 Speaker 1: never run on that because they would have no chance 276 00:13:18,440 --> 00:13:22,400 Speaker 1: of winning but here we are literally Biden and Elizabeth 277 00:13:22,440 --> 00:13:25,200 Speaker 1: Warren and even Gary Gensler are literally running on a 278 00:13:25,240 --> 00:13:29,480 Speaker 1: campaign to take away American's freedoms in the Land of 279 00:13:29,520 --> 00:13:31,360 Speaker 1: the Free. I mean, how do they think this is 280 00:13:31,360 --> 00:13:33,400 Speaker 1: a good idea? To your point, I don't remember them 281 00:13:33,480 --> 00:13:36,559 Speaker 1: going against you know, bitcoin, but like taking away any 282 00:13:36,640 --> 00:13:39,079 Speaker 1: choice or freedom. 283 00:13:39,240 --> 00:13:43,520 Speaker 2: No, it's it's frankly on American and it almost has 284 00:13:43,559 --> 00:13:45,880 Speaker 2: shades of like the prohibition, where we saw how well 285 00:13:45,960 --> 00:13:47,960 Speaker 2: that worked when the president at the time still had 286 00:13:48,360 --> 00:13:50,560 Speaker 2: a closet full of booze and would be drinking almost 287 00:13:50,559 --> 00:13:53,600 Speaker 2: every night. Regardless, it's turning into a lot of I 288 00:13:53,600 --> 00:13:57,520 Speaker 2: think fear mongering and this idea around ESG and the 289 00:13:57,600 --> 00:13:59,920 Speaker 2: narrative of well it's good for the environment, it's bad 290 00:13:59,920 --> 00:14:02,839 Speaker 2: for the environment, this and that. It just it goes 291 00:14:02,880 --> 00:14:05,160 Speaker 2: back to this idea of these people who are making 292 00:14:05,160 --> 00:14:08,000 Speaker 2: the decisions on behalf of us as citizens, haven't done 293 00:14:08,040 --> 00:14:11,080 Speaker 2: their due diligence, don't understand what they're saying, and then 294 00:14:11,240 --> 00:14:14,040 Speaker 2: ultimately they get to make the decision regardless of whether 295 00:14:14,120 --> 00:14:15,200 Speaker 2: or not they do their homework. 296 00:14:15,520 --> 00:14:18,280 Speaker 1: Yeah, Elizabeth Warren is now saying, you know, she's running 297 00:14:18,240 --> 00:14:20,240 Speaker 1: on this anti crypto campaign, so she's looking for any 298 00:14:20,240 --> 00:14:21,760 Speaker 1: reasons she can to shut it down. And now she 299 00:14:21,840 --> 00:14:24,080 Speaker 1: came out this week saying that she's calling for a 300 00:14:24,080 --> 00:14:27,040 Speaker 1: shutdown of crypto because so it was just I'm running 301 00:14:27,040 --> 00:14:30,080 Speaker 1: for a shutdown of crypto. Now it's because and it's 302 00:14:30,120 --> 00:14:33,760 Speaker 1: because crypto funding is for fentanyl, she said. She said 303 00:14:33,800 --> 00:14:35,800 Speaker 1: that it's the Chinese drug makers that found that crypto 304 00:14:35,840 --> 00:14:40,360 Speaker 1: payments are appealing, and ninety Chinese business is offering to 305 00:14:40,400 --> 00:14:43,680 Speaker 1: ship fentanyl precursors, with almost all of them taking crypto 306 00:14:43,760 --> 00:14:49,560 Speaker 1: in exchange. Well, so in my experience, it's cash that 307 00:14:49,760 --> 00:14:54,280 Speaker 1: powers the drug industry, and fentanyl is coming across our 308 00:14:54,360 --> 00:14:57,440 Speaker 1: southern borders, which the Biden administration does not want to 309 00:14:57,480 --> 00:15:00,720 Speaker 1: close down. If somebody wanted to buy rugs online, which 310 00:15:00,760 --> 00:15:03,160 Speaker 1: is not happening, if it was, they could just use 311 00:15:03,160 --> 00:15:05,080 Speaker 1: a pre prey debit card a credit card to do that. 312 00:15:05,520 --> 00:15:09,840 Speaker 1: So one, I mean, is he just pulling straws heer 313 00:15:09,960 --> 00:15:11,480 Speaker 1: you think there's anything to that. 314 00:15:13,040 --> 00:15:15,880 Speaker 2: It's fear mongering. It's this idea of oh, well, what's 315 00:15:15,920 --> 00:15:18,200 Speaker 2: the scariest thing and what's the thing that people are 316 00:15:18,240 --> 00:15:21,160 Speaker 2: most afraid of. Well, it's drug addiction and fentanyl and 317 00:15:21,200 --> 00:15:23,880 Speaker 2: we don't want our kids or our family getting associated 318 00:15:23,920 --> 00:15:25,560 Speaker 2: with this. Well, how do we stop it? Well, we 319 00:15:25,600 --> 00:15:29,400 Speaker 2: stop the payment and to label the payment as it's crypto. 320 00:15:29,480 --> 00:15:33,440 Speaker 2: Doing this is laughable. Like everyone has seen the pictures 321 00:15:33,480 --> 00:15:36,160 Speaker 2: of all of the raids down in Mexico of just 322 00:15:36,280 --> 00:15:41,280 Speaker 2: piles of gold poolon and of hordes of cash. Cash, 323 00:15:41,360 --> 00:15:44,400 Speaker 2: it's all, it's all cash. So Elizabeth Warren, just a 324 00:15:44,480 --> 00:15:47,120 Speaker 2: quick little note, maybe hop on over to the Treasury Department, 325 00:15:47,280 --> 00:15:49,080 Speaker 2: hop on over to the Federal Reserve and ask them 326 00:15:49,320 --> 00:15:50,840 Speaker 2: to stop funding the fedanyl trade. 327 00:15:51,040 --> 00:15:54,640 Speaker 1: Yeah, exactly. Side note on that. What's interesting somebody in 328 00:15:54,800 --> 00:15:57,200 Speaker 1: one of my high end coaching programs called the Inside Line. 329 00:15:57,800 --> 00:16:00,680 Speaker 1: He has a consulting business. He helps business has become 330 00:16:00,720 --> 00:16:04,200 Speaker 1: more efficient, so like I'll do their operations. He went 331 00:16:04,240 --> 00:16:09,480 Speaker 1: and met with the Treasury in Texas in February and 332 00:16:10,280 --> 00:16:13,160 Speaker 1: they are hiring him to help them scale I think 333 00:16:13,160 --> 00:16:16,480 Speaker 1: he said they're building three new money print money printing 334 00:16:16,520 --> 00:16:19,880 Speaker 1: locations and he was like whoa, he's like I thought, 335 00:16:19,880 --> 00:16:22,240 Speaker 1: with like CBDCs and you know all this is money, 336 00:16:22,280 --> 00:16:24,480 Speaker 1: you guys would be scaling down And he said, oh no, no, 337 00:16:24,600 --> 00:16:27,320 Speaker 1: business has never been better. The dollar has never been 338 00:16:27,320 --> 00:16:30,320 Speaker 1: in more demand. We're building three new printing facilities, one 339 00:16:30,360 --> 00:16:32,000 Speaker 1: of them which is right next to this airport, so 340 00:16:32,040 --> 00:16:35,760 Speaker 1: we can literally go right onto the planes, and all 341 00:16:35,800 --> 00:16:38,360 Speaker 1: the money is going offshore. So business has never been better. 342 00:16:38,360 --> 00:16:41,160 Speaker 1: The Treasury is building three new facilities to print money, 343 00:16:41,960 --> 00:16:44,480 Speaker 1: and so that is to your point, going into these 344 00:16:44,520 --> 00:16:49,080 Speaker 1: cartel's pockets to fund this. It's not bitcoin that we 345 00:16:49,160 --> 00:16:51,200 Speaker 1: can create more of it to a fixed supply. It's 346 00:16:51,240 --> 00:16:54,040 Speaker 1: this cash insane and that. 347 00:16:55,040 --> 00:16:57,960 Speaker 2: It's honestly, it's remarkable the gall the government has to 348 00:16:58,600 --> 00:17:00,440 Speaker 2: lie to us and then at the same timeh literally 349 00:17:00,480 --> 00:17:01,560 Speaker 2: fund the drug trade. 350 00:17:01,760 --> 00:17:04,840 Speaker 1: Yeah, literally just shipping pallots of cash overseas, and of 351 00:17:04,840 --> 00:17:07,360 Speaker 1: course as they continue to crack down on it, people say, well, 352 00:17:07,400 --> 00:17:10,159 Speaker 1: it'll just go offshore, and it has. We saw that 353 00:17:10,280 --> 00:17:15,400 Speaker 1: now China, as of June first, China is now going 354 00:17:15,440 --> 00:17:19,600 Speaker 1: to allow private retail citizens to buy bitcoin and ethereum 355 00:17:19,880 --> 00:17:23,879 Speaker 1: cryptocurrencies through Hong Kong. And now Gary Ginzler and Elizabeth 356 00:17:23,880 --> 00:17:25,880 Speaker 1: Warnon want to crack down on stable coins, and now 357 00:17:25,920 --> 00:17:28,119 Speaker 1: Hong Kong is just going to launch their own stable coins, 358 00:17:28,359 --> 00:17:30,720 Speaker 1: and so you know, that's the game. That's the game. 359 00:17:30,800 --> 00:17:33,080 Speaker 1: Theory in play. If you're just tune in, you're listening 360 00:17:33,080 --> 00:17:35,600 Speaker 1: to the Mark mass Show. We're talking about the latest 361 00:17:35,600 --> 00:17:38,000 Speaker 1: breaking news headlines. This week. We're talking about what's going 362 00:17:38,040 --> 00:17:41,479 Speaker 1: on in the bitcoin in the cryptocurrency space. Gonna take 363 00:17:41,480 --> 00:17:44,119 Speaker 1: a quick break, were back, want to talk about the economy, 364 00:17:44,160 --> 00:17:46,680 Speaker 1: what's going on with the debt deal, the job openings, 365 00:17:46,680 --> 00:17:48,840 Speaker 1: and what's happening with FED hikes. We're gonna talk more 366 00:17:48,880 --> 00:17:52,439 Speaker 1: about families hurting because of the insanity of what's going on, 367 00:17:52,560 --> 00:17:54,600 Speaker 1: and more. Don't go away, I'm gonna take quick break. 368 00:17:54,720 --> 00:17:59,240 Speaker 1: Beer back. All right, welcome back. If you're just tune in, 369 00:17:59,280 --> 00:18:01,280 Speaker 1: you are listening to the Mark Moss Show. We're running 370 00:18:01,280 --> 00:18:03,640 Speaker 1: through some of the latest breaking news headlines this week. 371 00:18:03,720 --> 00:18:06,200 Speaker 1: Of course, as we're looking through the lens of politics, finance, 372 00:18:06,240 --> 00:18:09,600 Speaker 1: and technology, so you can have context to what's going 373 00:18:09,640 --> 00:18:12,159 Speaker 1: on in this complex system. You know, one of the 374 00:18:12,160 --> 00:18:15,240 Speaker 1: things that was dominating the news headlines was this debt 375 00:18:15,240 --> 00:18:17,359 Speaker 1: ceiling debate. We kind of already talked about that a 376 00:18:17,359 --> 00:18:19,200 Speaker 1: little bit in some earlier segments. If you missed it, 377 00:18:19,240 --> 00:18:21,440 Speaker 1: don't worry, go back and check out the podcast. Just 378 00:18:21,480 --> 00:18:24,760 Speaker 1: search the Mark Mass Show in the podcast but in 379 00:18:24,800 --> 00:18:28,959 Speaker 1: regards to the economy, the treasury desperately needs money. As 380 00:18:28,960 --> 00:18:32,200 Speaker 1: a matter of fact, the cash balance at the bank 381 00:18:32,240 --> 00:18:35,480 Speaker 1: account the TGA, that's the Treasury, the US government. The 382 00:18:35,520 --> 00:18:40,480 Speaker 1: Treasury's bank account is at only thirty seven billion, which 383 00:18:40,520 --> 00:18:42,199 Speaker 1: sounds like a lot of money, but not for the government. 384 00:18:42,280 --> 00:18:44,880 Speaker 1: Thirty seven billion, which is the lowest level it's been 385 00:18:44,920 --> 00:18:47,320 Speaker 1: at in twenty seventeen. And so now that the debt 386 00:18:47,320 --> 00:18:49,639 Speaker 1: ceiling has been raised hopefully get signed in the next 387 00:18:49,680 --> 00:18:52,320 Speaker 1: couple of days, they have to add a trillion dollars 388 00:18:52,320 --> 00:18:55,720 Speaker 1: in treasurers over the next thirty days. Now that I 389 00:18:55,760 --> 00:18:57,720 Speaker 1: talked about this kind of earlier, this sucks to liquidity 390 00:18:57,720 --> 00:19:00,720 Speaker 1: out of the markets. But reports and analysts are saying 391 00:19:00,760 --> 00:19:04,000 Speaker 1: that's going to be equal to a twenty five point 392 00:19:04,240 --> 00:19:06,600 Speaker 1: basis hike by the Fed. So of course, the Fed's 393 00:19:06,640 --> 00:19:10,439 Speaker 1: been going on this hiking cycle or the reckless abandoned 394 00:19:10,480 --> 00:19:12,919 Speaker 1: raising rates for the fastest time in history, caused all 395 00:19:12,960 --> 00:19:16,520 Speaker 1: types of havoc in the entire financial system, including banks 396 00:19:16,560 --> 00:19:19,560 Speaker 1: collapsing and even the Treasury growing bokee. And now this 397 00:19:19,600 --> 00:19:23,600 Speaker 1: will be equal to another twenty five point hike. And 398 00:19:23,640 --> 00:19:27,360 Speaker 1: at the same time we saw job openings come out 399 00:19:27,359 --> 00:19:33,960 Speaker 1: this week and they look like they were unexpectedly increasing 400 00:19:34,040 --> 00:19:36,120 Speaker 1: the job opening so that's not bad. And it looks 401 00:19:36,160 --> 00:19:39,480 Speaker 1: like the Fed is now still on the fence whether 402 00:19:39,520 --> 00:19:42,040 Speaker 1: they're going to have one more rate hike or not. 403 00:19:42,640 --> 00:19:45,040 Speaker 1: So it looks like the traders, so people bet on 404 00:19:45,160 --> 00:19:47,680 Speaker 1: this and they bet what will the Fed do? And 405 00:19:47,720 --> 00:19:49,840 Speaker 1: it looks like the traders have reduced their bets that 406 00:19:49,880 --> 00:19:53,800 Speaker 1: the Fed will hike from sixty percent down to thirty 407 00:19:53,800 --> 00:19:56,720 Speaker 1: five percent. So there's a thirty five percent chance it 408 00:19:56,800 --> 00:19:58,639 Speaker 1: was a sixty now based off the news, it's a 409 00:19:58,640 --> 00:20:01,800 Speaker 1: thirty five percent chance still increasing in June. And then 410 00:20:02,200 --> 00:20:06,359 Speaker 1: the odds are now that twenty five percent increase a 411 00:20:06,400 --> 00:20:09,720 Speaker 1: fifty percent chance of an increase in July. So if 412 00:20:09,760 --> 00:20:11,720 Speaker 1: the Fed from a sixty to thirty five, the market, 413 00:20:11,760 --> 00:20:13,720 Speaker 1: I think thirty five percent chance still increase it, and 414 00:20:13,840 --> 00:20:16,000 Speaker 1: the Treasury is also going to kind of have the 415 00:20:16,040 --> 00:20:20,560 Speaker 1: same effect. That'd be a fifty percent basis point rise. 416 00:20:21,040 --> 00:20:23,320 Speaker 1: I mean, what's your take on that queue? That's pretty crazy. 417 00:20:24,080 --> 00:20:26,439 Speaker 2: I Mean, the big takeaway here is the fact that 418 00:20:26,480 --> 00:20:30,520 Speaker 2: you have politicians that you, nor I, nor anyone listening 419 00:20:30,640 --> 00:20:34,000 Speaker 2: ever elected, asked for or voted for in office. Making 420 00:20:34,040 --> 00:20:36,720 Speaker 2: decisions that ultimately aren't going to impact how much you 421 00:20:36,800 --> 00:20:39,560 Speaker 2: have to save, are going to impact how much you're 422 00:20:39,560 --> 00:20:41,639 Speaker 2: going to be able to spend, and how the prices 423 00:20:41,640 --> 00:20:43,520 Speaker 2: of the gas station, the prices at the grocery store 424 00:20:43,560 --> 00:20:46,480 Speaker 2: are impacted directly as a result of these type of policies. 425 00:20:46,840 --> 00:20:49,320 Speaker 2: I kind of talked about this earlier you as well, Like, 426 00:20:49,480 --> 00:20:52,440 Speaker 2: the last time we saw this much liquidity exiting the markets, 427 00:20:52,840 --> 00:20:56,840 Speaker 2: we just saw hard crashes, and we haven't really recovered 428 00:20:56,880 --> 00:20:59,159 Speaker 2: from the crash that we've pretty much seen from the 429 00:20:59,240 --> 00:21:01,440 Speaker 2: end of last year. So you're telling me that we're 430 00:21:01,480 --> 00:21:05,480 Speaker 2: about to get an even harder crashed down. It's almost 431 00:21:05,520 --> 00:21:07,960 Speaker 2: to me, it's almost irrelevant. It just kind of opens 432 00:21:08,000 --> 00:21:09,879 Speaker 2: the door and sets the government up for by the 433 00:21:09,960 --> 00:21:12,520 Speaker 2: end of this year. All right, let's open up the floodgates, 434 00:21:12,600 --> 00:21:15,359 Speaker 2: let's crash rates down, Let's start printing money and inject 435 00:21:15,400 --> 00:21:16,960 Speaker 2: liquidity back in the market. 436 00:21:17,160 --> 00:21:20,159 Speaker 1: Yeah, what's crazy, is I mean, you know, those that 437 00:21:20,200 --> 00:21:21,639 Speaker 1: don't know history are bound to repeat it. If you 438 00:21:21,640 --> 00:21:23,720 Speaker 1: just look back to twenty nineteen. What a lot of 439 00:21:23,760 --> 00:21:26,600 Speaker 1: people don't know is they think the pandemic was like 440 00:21:26,640 --> 00:21:28,919 Speaker 1: this Black swan event and it crashed the market in 441 00:21:28,960 --> 00:21:32,520 Speaker 1: March of twenty twenty. But in September of twenty nineteen, 442 00:21:32,600 --> 00:21:36,479 Speaker 1: the year before, the yield curve had inverted. So you 443 00:21:36,480 --> 00:21:38,119 Speaker 1: hear a lot about that today, most people don't know 444 00:21:38,160 --> 00:21:41,000 Speaker 1: is that actually happened September twenty nineteen, and that tells 445 00:21:41,080 --> 00:21:43,480 Speaker 1: us that a recession was coming. So it projected the 446 00:21:43,560 --> 00:21:45,600 Speaker 1: recession was coming. The black Swan was happening before it 447 00:21:45,640 --> 00:21:48,919 Speaker 1: even happened. And then why did that happen, Well, we 448 00:21:48,960 --> 00:21:52,200 Speaker 1: had this repocalypse, we had the repo markets blow up, 449 00:21:52,600 --> 00:21:55,480 Speaker 1: and part of that was because of the exact same 450 00:21:55,680 --> 00:21:58,520 Speaker 1: situation that's forming up right now where the Treasury, the 451 00:21:58,560 --> 00:22:02,440 Speaker 1: TG account was trying to rapidly expand increase their bank 452 00:22:02,440 --> 00:22:05,320 Speaker 1: account at the same time as the FED was tightening 453 00:22:05,359 --> 00:22:07,720 Speaker 1: their balance sheet. So what's happening right now, Well, the 454 00:22:07,760 --> 00:22:10,800 Speaker 1: Fed is tightening their balance sheet and the Treasury has 455 00:22:10,840 --> 00:22:14,359 Speaker 1: to refill. It's the same situation now. It's crazy about 456 00:22:14,359 --> 00:22:18,480 Speaker 1: that is what we've been doing. Is if you've ever 457 00:22:18,520 --> 00:22:22,520 Speaker 1: taken a house loan, you probably have heard Libor's it 458 00:22:22,600 --> 00:22:25,160 Speaker 1: sets all the rates. It's the London Interbank exchange rate, 459 00:22:25,359 --> 00:22:28,439 Speaker 1: and so all loans. Basically all the debt in the 460 00:22:28,480 --> 00:22:32,159 Speaker 1: world has been based off of this London exchange rate. Well, 461 00:22:32,280 --> 00:22:34,639 Speaker 1: the FED doesn't like that, and they have changed it 462 00:22:34,680 --> 00:22:37,800 Speaker 1: all from the libor to now a software which is 463 00:22:37,960 --> 00:22:41,200 Speaker 1: secured overnight funding rate and that is now set by 464 00:22:41,240 --> 00:22:45,639 Speaker 1: the United States at the overnight repo rate, and that 465 00:22:45,680 --> 00:22:49,280 Speaker 1: transition has been in effect. The transition will finish in 466 00:22:49,320 --> 00:22:52,800 Speaker 1: thirty days from now. So if we get a repeat 467 00:22:52,840 --> 00:22:56,560 Speaker 1: of what happened in September nineteen, Fed tightening treasury refilling, 468 00:22:57,080 --> 00:23:00,359 Speaker 1: freezing up the repo market. If that happens again, now 469 00:23:00,400 --> 00:23:03,800 Speaker 1: we have all this debt tied to that, it could 470 00:23:03,840 --> 00:23:08,439 Speaker 1: be disastrous. But even more I saw this this tweet 471 00:23:08,480 --> 00:23:11,280 Speaker 1: from Jeff Winneger, and this is kind of to your point, Q. 472 00:23:11,800 --> 00:23:13,840 Speaker 1: Jeff Wineger, he's the head of equity strategy, had a 473 00:23:13,920 --> 00:23:16,919 Speaker 1: ninety billion dollar asset under management firm, so he's not 474 00:23:16,920 --> 00:23:20,359 Speaker 1: a small small player. And he showed a chart of 475 00:23:20,400 --> 00:23:23,520 Speaker 1: these invest the investors that are buying home purchases, and 476 00:23:23,560 --> 00:23:28,080 Speaker 1: the investor purchases are down forty nine percent year over year. 477 00:23:28,359 --> 00:23:30,080 Speaker 1: And if you look at the chart, it's up and 478 00:23:30,160 --> 00:23:31,800 Speaker 1: then it's down. It's up and then it's down, up 479 00:23:31,800 --> 00:23:33,919 Speaker 1: and down, and he's like, what kind of society are 480 00:23:33,960 --> 00:23:36,600 Speaker 1: we living in where this chart goes higher and lower 481 00:23:36,680 --> 00:23:39,239 Speaker 1: hire and lower, high and lower booms and bus Like, 482 00:23:39,920 --> 00:23:42,560 Speaker 1: isn't the point of the Central Bank to smooth this out? 483 00:23:43,000 --> 00:23:45,080 Speaker 1: I kind of commented on it, and I said, well, 484 00:23:45,080 --> 00:23:47,360 Speaker 1: don't worry. They started one hundred years ago. Maybe they're 485 00:23:47,359 --> 00:23:48,920 Speaker 1: starting to get the hang of it now. But I mean, 486 00:23:49,480 --> 00:23:50,800 Speaker 1: is this insane. 487 00:23:50,359 --> 00:23:54,160 Speaker 2: Or what I mean? It just it starts to really 488 00:23:54,160 --> 00:23:57,640 Speaker 2: big the question of that age, old adage of well, 489 00:23:57,800 --> 00:23:59,960 Speaker 2: real estate is the safest place to park your money. 490 00:24:00,160 --> 00:24:02,080 Speaker 2: And for any of my Lakers fans out there, if 491 00:24:02,119 --> 00:24:06,080 Speaker 2: you watch the Old Lakers docuseries on Hulu last year, 492 00:24:06,480 --> 00:24:09,080 Speaker 2: they talked about how Jerry Buss and his business partners 493 00:24:09,240 --> 00:24:12,959 Speaker 2: back in like the sixties, they just were like, buy anything, 494 00:24:13,160 --> 00:24:15,399 Speaker 2: buy real estate because inflation will take care of the 495 00:24:15,440 --> 00:24:18,119 Speaker 2: rest and it will just grow in value. You no 496 00:24:18,240 --> 00:24:21,080 Speaker 2: longer have that anymore. You're again on the whims of 497 00:24:21,200 --> 00:24:23,919 Speaker 2: a few few people who go off into a room 498 00:24:24,000 --> 00:24:27,000 Speaker 2: and make certain decisions, and that's gonna impact you and 499 00:24:27,040 --> 00:24:29,760 Speaker 2: I and how we operate our day to day lives. 500 00:24:30,080 --> 00:24:33,199 Speaker 2: Like you were someone with ample experience in the real 501 00:24:33,280 --> 00:24:36,159 Speaker 2: estate market myself trying to buy my first home. I 502 00:24:36,200 --> 00:24:38,880 Speaker 2: see something like this and I'm like, oh, nope, I'm 503 00:24:38,920 --> 00:24:40,520 Speaker 2: just I'm not even gonna look at it, not gonna, 504 00:24:40,640 --> 00:24:41,280 Speaker 2: not gonna bother. 505 00:24:42,160 --> 00:24:44,880 Speaker 1: Yeah. What the chart really shows though, is that, I mean, 506 00:24:45,359 --> 00:24:47,120 Speaker 1: he's to your point. They go in a small room 507 00:24:47,160 --> 00:24:49,919 Speaker 1: and make these decisions that affect our lives, and it 508 00:24:49,960 --> 00:24:52,159 Speaker 1: shows that they're running the economy like a light switch. 509 00:24:52,440 --> 00:24:55,480 Speaker 1: It's like on and off, on and off, on and off, 510 00:24:55,840 --> 00:24:58,280 Speaker 1: and it just goes insanity because the whole purpose of 511 00:24:58,320 --> 00:25:01,439 Speaker 1: the FED being created was to move this out and 512 00:25:02,160 --> 00:25:03,879 Speaker 1: it's the opposite. So we have one hundred years of 513 00:25:03,960 --> 00:25:07,000 Speaker 1: data that shows that they're only making it worse, they're 514 00:25:07,040 --> 00:25:09,560 Speaker 1: not making it better. So at what point do people 515 00:25:09,800 --> 00:25:12,680 Speaker 1: start to wake up and realize how stupid and say 516 00:25:12,760 --> 00:25:15,480 Speaker 1: what does Einstein say? The definition of insanity is doing 517 00:25:15,520 --> 00:25:17,919 Speaker 1: the same thing expecting a different result. So they've had 518 00:25:17,920 --> 00:25:20,360 Speaker 1: one hundred years, it's getting worse. I think it's time 519 00:25:20,400 --> 00:25:21,399 Speaker 1: for something different. 520 00:25:23,000 --> 00:25:26,200 Speaker 2: It's just so much easier to accept the status quo 521 00:25:26,359 --> 00:25:29,320 Speaker 2: rather than, you know, ask these tough questions, because if 522 00:25:29,359 --> 00:25:31,600 Speaker 2: you are asking these tough questions, you start to realize, like, 523 00:25:31,640 --> 00:25:34,359 Speaker 2: wait a minute, this doesn't make sense. Yet we've allowed 524 00:25:34,400 --> 00:25:36,280 Speaker 2: it to transpire, and we've allowed it to grow and 525 00:25:36,440 --> 00:25:37,359 Speaker 2: influence and power. 526 00:25:38,000 --> 00:25:40,840 Speaker 1: Yeah, and unfortunately to your point, you know, these guys 527 00:25:40,880 --> 00:25:43,440 Speaker 1: go into this room and make decisions that affect our lives. 528 00:25:43,840 --> 00:25:47,200 Speaker 1: You know, I've likened the kind of we always watch 529 00:25:47,280 --> 00:25:49,720 Speaker 1: the FOMC meeting to see Jerome Powell, the head of 530 00:25:49,760 --> 00:25:52,679 Speaker 1: the FED, come out and tell us what our fate is, like, 531 00:25:52,760 --> 00:25:54,560 Speaker 1: what is the rate going to be? And I liken 532 00:25:54,640 --> 00:25:57,359 Speaker 1: it sort of to the insanity that people watch a 533 00:25:57,359 --> 00:26:00,199 Speaker 1: hedgehog or groundhog punks Donny Phil to come out and 534 00:26:00,200 --> 00:26:02,320 Speaker 1: tell us if spring is coming or whatever. It's like, 535 00:26:02,480 --> 00:26:04,240 Speaker 1: it's kind of the same thing. But what they don't 536 00:26:04,280 --> 00:26:06,760 Speaker 1: understand these bankers, I don't think they understand is that 537 00:26:06,800 --> 00:26:10,320 Speaker 1: these are real lives. And I saw this headline this week. 538 00:26:10,400 --> 00:26:13,600 Speaker 1: Family say they need now three times the poverty rate 539 00:26:13,680 --> 00:26:17,160 Speaker 1: to get by. They need eighty five thousand because of inflation. 540 00:26:17,840 --> 00:26:20,879 Speaker 1: Basics says food, clothing, and fuel has gone so high 541 00:26:21,280 --> 00:26:23,840 Speaker 1: that now they can't get by unless they make three times. 542 00:26:23,880 --> 00:26:27,240 Speaker 1: I mean, they're crushing families insane. 543 00:26:27,280 --> 00:26:29,440 Speaker 2: Yeah, I mean the sad part too, is you had 544 00:26:29,480 --> 00:26:32,680 Speaker 2: the fed share from San Francisco. I'm forgetting her name, 545 00:26:32,720 --> 00:26:34,600 Speaker 2: but she came out and she was like, well, I 546 00:26:34,600 --> 00:26:37,240 Speaker 2: don't feel the effects, right because you have a very 547 00:26:37,320 --> 00:26:40,560 Speaker 2: bloated salary where you are overpaid to destroy the economy, 548 00:26:40,560 --> 00:26:43,160 Speaker 2: So of course you're not going grocery shopping and dealing 549 00:26:43,240 --> 00:26:45,560 Speaker 2: with the crisis that was eggs last summer, or dealing 550 00:26:45,600 --> 00:26:48,040 Speaker 2: with the issues the gas pump that we're still dealing 551 00:26:48,119 --> 00:26:49,640 Speaker 2: with in California right now. 552 00:26:50,080 --> 00:26:52,480 Speaker 1: So it's kind of like the let them eat cake 553 00:26:52,720 --> 00:26:55,800 Speaker 1: kind of a thing, right that, Oh, but people are 554 00:26:55,800 --> 00:26:57,880 Speaker 1: so hungry, they don't have enough bread. Oh, then let 555 00:26:57,880 --> 00:26:59,359 Speaker 1: them just eat cake. And it was kind of like 556 00:26:59,400 --> 00:27:02,520 Speaker 1: this moment where that she to your point that you're making. 557 00:27:02,560 --> 00:27:06,719 Speaker 1: She just showed how disconnected they are from this. If 558 00:27:06,720 --> 00:27:08,800 Speaker 1: you're just tune in, you're listening to the Mark Maas Show. 559 00:27:08,840 --> 00:27:11,400 Speaker 1: We're talking about the latest breaking news headlines this week, 560 00:27:11,440 --> 00:27:13,960 Speaker 1: so you can understand how this world is moving from 561 00:27:13,960 --> 00:27:17,400 Speaker 1: centralization to decentralization. We're gonna come back in a minute 562 00:27:17,440 --> 00:27:20,360 Speaker 1: and take a quick break and talk about how society 563 00:27:20,440 --> 00:27:23,320 Speaker 1: is literally breaking down right in front of us because 564 00:27:23,359 --> 00:27:25,240 Speaker 1: of these policies. So we're going to cover that in 565 00:27:25,280 --> 00:27:27,000 Speaker 1: morn a minute when we come back. Don't go away, 566 00:27:27,200 --> 00:27:29,840 Speaker 1: We'll be right back. All right, Welcome back. If you're 567 00:27:29,840 --> 00:27:31,960 Speaker 1: just tune in, you're listening to the Markmas Show. We're 568 00:27:32,000 --> 00:27:35,240 Speaker 1: talking about the decentralized Revolution, how the world is changing 569 00:27:35,800 --> 00:27:38,040 Speaker 1: as we watch it through the lens of politics, finance, 570 00:27:38,080 --> 00:27:39,960 Speaker 1: and technology. We're running through some of the latest breaking 571 00:27:39,960 --> 00:27:43,520 Speaker 1: news headlines. And you know, some of the breaking headlines 572 00:27:43,680 --> 00:27:46,679 Speaker 1: that seem to be just repeating over and over and 573 00:27:46,720 --> 00:27:51,680 Speaker 1: over is really the breakdown in society. Now, I've likened 574 00:27:51,720 --> 00:27:54,639 Speaker 1: to think that, like if you had, like all the 575 00:27:54,640 --> 00:27:57,760 Speaker 1: problems in society, they're all like leaves on a giant tree. 576 00:27:58,359 --> 00:28:00,760 Speaker 1: We could sit there and debate each leave, each problem. 577 00:28:00,800 --> 00:28:02,840 Speaker 1: But at the bottom sits that money printer. And so 578 00:28:02,880 --> 00:28:04,840 Speaker 1: when the money's broken, the world is broken. But we 579 00:28:04,880 --> 00:28:08,800 Speaker 1: see society breaking down. So it's not just like inflation, 580 00:28:09,320 --> 00:28:12,320 Speaker 1: like that's like a first order effects like okay, well 581 00:28:12,400 --> 00:28:14,639 Speaker 1: prices go up. Second order effects as well, it makes 582 00:28:14,680 --> 00:28:17,280 Speaker 1: it harder for people to live. Third order effects is like, well, 583 00:28:17,320 --> 00:28:18,960 Speaker 1: now I don't have time to spend with my family 584 00:28:19,080 --> 00:28:21,920 Speaker 1: or my kids. Fourth effects is like now they're outbreaking 585 00:28:21,960 --> 00:28:25,040 Speaker 1: the law and like you can keep chasing this down 586 00:28:25,359 --> 00:28:26,800 Speaker 1: and that's kind of where we're at. And some of 587 00:28:26,840 --> 00:28:29,000 Speaker 1: it is because of the breakdown in money, and some 588 00:28:29,040 --> 00:28:34,040 Speaker 1: of it's intentional. I saw I saw President Buquelei, president 589 00:28:34,080 --> 00:28:36,679 Speaker 1: of El Salvador, was on Tucker Carlson months ago and 590 00:28:36,760 --> 00:28:40,840 Speaker 1: he said, he said, you know, I'm from El Salvador. 591 00:28:40,960 --> 00:28:43,920 Speaker 1: We're third World country, and a lot of these cities 592 00:28:43,960 --> 00:28:46,560 Speaker 1: I wouldn't even go to anymore, and so you know, 593 00:28:46,600 --> 00:28:49,000 Speaker 1: we're seeing this and he said, he said, these were 594 00:28:49,040 --> 00:28:52,360 Speaker 1: shining examples of cities on the Hill twenty years ago. 595 00:28:52,640 --> 00:28:54,680 Speaker 1: There's no way they get from here to there without 596 00:28:54,800 --> 00:28:57,840 Speaker 1: being intentional. And I saw this week in Los Angeles 597 00:28:58,080 --> 00:29:02,800 Speaker 1: they have this zero bail police reinstated even for repeat offenders. 598 00:29:03,160 --> 00:29:08,640 Speaker 1: Now this bill removes bell requirements for offenders, and so 599 00:29:09,120 --> 00:29:12,440 Speaker 1: when you don't punish crime, it seems like you get 600 00:29:12,560 --> 00:29:15,719 Speaker 1: more of that crime. We see the same thing. Stores 601 00:29:15,720 --> 00:29:18,840 Speaker 1: are shutting down everywhere. Target, Walmart, foot Locker are now 602 00:29:18,880 --> 00:29:22,320 Speaker 1: saying that because theft is getting so bad, they're having 603 00:29:22,360 --> 00:29:26,160 Speaker 1: to shut down stores. There's been employees killed during these 604 00:29:26,200 --> 00:29:29,240 Speaker 1: shop left in events. Nordstrom now has to layoff almost 605 00:29:29,360 --> 00:29:33,120 Speaker 1: four hundred workers because they're shutting down the San Francisco 606 00:29:33,200 --> 00:29:36,680 Speaker 1: stores because crime is so bad, and of course if 607 00:29:36,680 --> 00:29:38,960 Speaker 1: you don't punish crime, you get more of it. I mean, 608 00:29:39,200 --> 00:29:41,400 Speaker 1: is that so hard to understand you? 609 00:29:41,480 --> 00:29:44,760 Speaker 2: No? I mean, look, my mother works at Macy's on 610 00:29:44,920 --> 00:29:47,560 Speaker 2: the actual sales floor and was robbed at gunpoint and 611 00:29:48,320 --> 00:29:52,520 Speaker 2: in La in La. And their response is, Okay, maybe 612 00:29:52,520 --> 00:29:55,080 Speaker 2: we can add another security guard, but the requirements are 613 00:29:55,360 --> 00:29:58,400 Speaker 2: they can't the security guard at Macy's can't put hands 614 00:29:58,400 --> 00:30:00,360 Speaker 2: on this person out of fear of a law, lawsuit. 615 00:30:00,480 --> 00:30:04,200 Speaker 2: God forbid, God forbid you stop a robbery. Yeah, and 616 00:30:04,240 --> 00:30:06,960 Speaker 2: then at the same time, they don't prosecute, they don't 617 00:30:07,000 --> 00:30:09,640 Speaker 2: chase after, they don't do anything. So now you're just 618 00:30:09,720 --> 00:30:12,720 Speaker 2: leaving these people expose your employees that you're supposed to 619 00:30:12,720 --> 00:30:17,120 Speaker 2: care and protect. It's laughable. We've allowed these sort of 620 00:30:17,160 --> 00:30:21,040 Speaker 2: like crimes, these very small petty crimes, to escalate into 621 00:30:21,160 --> 00:30:23,680 Speaker 2: levels that they should never have gotten to if we 622 00:30:23,760 --> 00:30:25,280 Speaker 2: just took care of it at its root. 623 00:30:26,840 --> 00:30:28,640 Speaker 1: And I think like when you look at you know, 624 00:30:28,800 --> 00:30:30,840 Speaker 1: back to kind of these cities being shining cities on 625 00:30:30,840 --> 00:30:34,640 Speaker 1: the hill, like being examples and attracting the world like 626 00:30:35,480 --> 00:30:37,800 Speaker 1: most people coming from other parts of the world are 627 00:30:37,800 --> 00:30:40,440 Speaker 1: coming for a better life. A lot of that better 628 00:30:40,480 --> 00:30:45,160 Speaker 1: life that they want is like a safer place to live. Nobody. 629 00:30:45,280 --> 00:30:47,360 Speaker 1: I don't care if you're you know, a legal immigrant. 630 00:30:47,400 --> 00:30:48,920 Speaker 1: I don't care what country came from. I don't care 631 00:30:48,960 --> 00:30:51,840 Speaker 1: what income level you're at. Nobody wants to live in 632 00:30:51,960 --> 00:30:55,440 Speaker 1: violence or lawlessless like nobody wants that right. 633 00:30:57,080 --> 00:31:00,360 Speaker 2: No, like we want to feel safe. Like whether you 634 00:31:00,400 --> 00:31:03,160 Speaker 2: agree with the taxes you pay or not, I anticipate 635 00:31:03,200 --> 00:31:05,400 Speaker 2: at least some of these tax dollars go towards keeping 636 00:31:05,400 --> 00:31:07,560 Speaker 2: me and my family safe so that I don't need 637 00:31:07,600 --> 00:31:10,200 Speaker 2: to walk around, you know, watching behind my back, or 638 00:31:10,200 --> 00:31:12,480 Speaker 2: I don't need to, you know, be strapped in so 639 00:31:12,480 --> 00:31:14,680 Speaker 2: so much so that hey, I don't know if that 640 00:31:14,720 --> 00:31:17,480 Speaker 2: person's gonna rob me, jump me, hurt me, hurt my family. 641 00:31:17,640 --> 00:31:20,360 Speaker 2: It's scary to think that I'm saying that about a 642 00:31:20,400 --> 00:31:22,200 Speaker 2: place like America of all. 643 00:31:22,080 --> 00:31:25,280 Speaker 1: Places too, and so like you know, as I kind 644 00:31:25,280 --> 00:31:27,040 Speaker 1: of as I kind of went through, like I believe 645 00:31:27,080 --> 00:31:29,560 Speaker 1: when the money breaks down, you know, second, third, fourth, 646 00:31:29,560 --> 00:31:32,960 Speaker 1: fifth order effects or that society starts breaking down. So 647 00:31:33,280 --> 00:31:37,040 Speaker 1: that's that's one side of it. But then the other 648 00:31:37,120 --> 00:31:39,920 Speaker 1: side is that laws are supposed to, you know, prevent 649 00:31:39,960 --> 00:31:43,640 Speaker 1: that from happening. And so I mean, again, you live 650 00:31:43,640 --> 00:31:48,760 Speaker 1: in LA. I mean I saw the DA of San 651 00:31:48,800 --> 00:31:52,520 Speaker 1: Francisco gascon who basically took away all the crime penalties 652 00:31:52,600 --> 00:31:55,000 Speaker 1: and turned San Francisco into the hole. Then came to 653 00:31:55,160 --> 00:31:58,120 Speaker 1: LA like, why would LA hire him after he was 654 00:31:58,120 --> 00:32:01,640 Speaker 1: just in San Francisco and then they saw exactly what happened. 655 00:32:01,680 --> 00:32:02,800 Speaker 1: I mean, what's going on with that? 656 00:32:03,760 --> 00:32:07,800 Speaker 2: Look? Man, Hollywood, politics and sports are the only industries 657 00:32:07,840 --> 00:32:10,880 Speaker 2: where you can fail at your job and then somehow 658 00:32:10,920 --> 00:32:11,600 Speaker 2: get a promotion. 659 00:32:11,760 --> 00:32:15,480 Speaker 1: Yeah, politics, like we just we don't. 660 00:32:16,120 --> 00:32:18,880 Speaker 2: We don't care about ourselves for some reason, we tax 661 00:32:18,920 --> 00:32:21,800 Speaker 2: ourselves more because we vote in these policies. We bring 662 00:32:21,840 --> 00:32:24,960 Speaker 2: in politicians who are who prioritize their donors instead of 663 00:32:24,960 --> 00:32:27,680 Speaker 2: the actual citizens who elect them and put them in office. 664 00:32:28,000 --> 00:32:28,880 Speaker 2: It's a damn shame. 665 00:32:29,360 --> 00:32:32,600 Speaker 1: Yeah, you know, I appreciate your viewpoint on this because 666 00:32:32,640 --> 00:32:34,880 Speaker 1: I know at some point we kind of sat more 667 00:32:34,920 --> 00:32:37,560 Speaker 1: on opposite sides of the political spectrum, and obviously now 668 00:32:37,600 --> 00:32:39,560 Speaker 1: we're just kind of trending more towards the middle because 669 00:32:39,600 --> 00:32:41,920 Speaker 1: we see the insanity, you know, and you can go 670 00:32:42,080 --> 00:32:44,440 Speaker 1: too far on either side of the aisle for sure. 671 00:32:45,040 --> 00:32:47,480 Speaker 1: But again back to the point, right, Like it doesn't 672 00:32:47,560 --> 00:32:50,200 Speaker 1: matter what political spectrum you're on, or what country you're from, 673 00:32:50,280 --> 00:32:54,080 Speaker 1: or what income level you're at, Like nobody wants to 674 00:32:54,120 --> 00:32:59,280 Speaker 1: live in that. I think. You know, I'm a little 675 00:32:59,320 --> 00:33:03,080 Speaker 1: bit older than you. And when I was growing up, 676 00:33:03,240 --> 00:33:08,080 Speaker 1: like you would still get spanked at school, like literally, 677 00:33:08,080 --> 00:33:10,680 Speaker 1: like you would still get sent to the principals. Now 678 00:33:10,720 --> 00:33:12,400 Speaker 1: I went to private schools, maybe that's a little different, 679 00:33:12,440 --> 00:33:13,960 Speaker 1: but like literally you go to the principal's office and 680 00:33:14,000 --> 00:33:15,560 Speaker 1: he would grab a paddle and he would spank you. 681 00:33:16,280 --> 00:33:19,280 Speaker 1: And today in my kids, in my daughter's high school, 682 00:33:19,440 --> 00:33:21,800 Speaker 1: they're not even allowed to send kids to the principal's 683 00:33:21,800 --> 00:33:24,800 Speaker 1: office anymore because they may make them feel bad about themselves. 684 00:33:25,360 --> 00:33:27,480 Speaker 2: Oh, I got sent to the principal's office all the time. 685 00:33:27,760 --> 00:33:29,360 Speaker 2: I would I'm a public school kid. 686 00:33:29,560 --> 00:33:32,640 Speaker 1: But that's wild to me, right, So, like they've gone 687 00:33:32,680 --> 00:33:35,360 Speaker 1: from spanking in school to like still going to the 688 00:33:35,360 --> 00:33:37,160 Speaker 1: principal's office to now not going to the prince of 689 00:33:37,160 --> 00:33:39,200 Speaker 1: office because they may make them feel bad about themselves. 690 00:33:39,440 --> 00:33:43,800 Speaker 1: So when kids grow up with zero consequences to their actions, 691 00:33:45,200 --> 00:33:47,960 Speaker 1: what do they think happens when they become adults. I mean, 692 00:33:48,600 --> 00:33:50,200 Speaker 1: it's not rocket science here, right. 693 00:33:50,800 --> 00:33:53,040 Speaker 2: No, I'm unfortunately, and you kind of asked the question 694 00:33:53,080 --> 00:33:55,200 Speaker 2: that I was going to ask of, like, how do 695 00:33:55,240 --> 00:33:58,080 Speaker 2: they learn discipline? How do they learn right from wrong? 696 00:33:58,120 --> 00:34:00,000 Speaker 2: If no one's going to tell them or punish them 697 00:34:00,080 --> 00:34:01,880 Speaker 2: when they make a mistake, or at least help them 698 00:34:01,960 --> 00:34:03,360 Speaker 2: see the mistake they. 699 00:34:03,280 --> 00:34:06,200 Speaker 1: Made, or when they've been taught. There is no such 700 00:34:06,240 --> 00:34:09,120 Speaker 1: thing as right and wrong. There's no such thing as 701 00:34:09,160 --> 00:34:12,320 Speaker 1: truth anymore. There's no such thing as right and wrong. 702 00:34:13,480 --> 00:34:16,480 Speaker 1: Words are now violence. So now if you say something 703 00:34:16,480 --> 00:34:18,160 Speaker 1: I don't agree with, I can say that's the act 704 00:34:18,239 --> 00:34:21,000 Speaker 1: of violence against me. I mean, this whole thing has 705 00:34:21,040 --> 00:34:24,520 Speaker 1: been turned upside down. I don't know how we come 706 00:34:24,520 --> 00:34:26,920 Speaker 1: out of it, but you know, at some point you've 707 00:34:26,960 --> 00:34:31,200 Speaker 1: got to correct the ship. And unfortunately, again not to 708 00:34:31,239 --> 00:34:34,080 Speaker 1: try to make this partisan, but unfortunately, you see this 709 00:34:34,239 --> 00:34:36,439 Speaker 1: in the blue cities in the Blue States. You don't 710 00:34:36,440 --> 00:34:38,120 Speaker 1: see it in the red cities in the Red States. 711 00:34:38,480 --> 00:34:42,600 Speaker 1: And the reason why is simple. If you're tough on crime, 712 00:34:42,840 --> 00:34:44,959 Speaker 1: you don't get as much crime. If you're weak on crime, 713 00:34:45,080 --> 00:34:46,680 Speaker 1: you get more of it. And so all these people 714 00:34:46,719 --> 00:34:50,319 Speaker 1: that are calling for you know, defunding the police all 715 00:34:50,320 --> 00:34:54,160 Speaker 1: these types of things. Well, that's what happens. You defund 716 00:34:54,160 --> 00:34:55,800 Speaker 1: the police, and you get that. I saw San Francisco 717 00:34:55,840 --> 00:34:59,360 Speaker 1: Mayor Breed had to retreat when chaos erupted at a 718 00:34:59,440 --> 00:35:02,600 Speaker 1: drug this event. And so she went there, you know, 719 00:35:03,280 --> 00:35:06,120 Speaker 1: running on this whole platform of of yeah, let these 720 00:35:06,160 --> 00:35:10,520 Speaker 1: people have this open air, you know, drug hotspot, let 721 00:35:10,560 --> 00:35:13,319 Speaker 1: the you know, let's let's let's not let's not prosecute them. 722 00:35:13,600 --> 00:35:17,040 Speaker 1: So she's down there to like be a champion for them. 723 00:35:17,480 --> 00:35:21,799 Speaker 1: But yet while she's down there, the things things get 724 00:35:21,880 --> 00:35:26,080 Speaker 1: so bad, she said, she declared that compassion is killing people. 725 00:35:27,040 --> 00:35:30,919 Speaker 1: And as she started doing that, violence erupted and people started, uh, 726 00:35:30,960 --> 00:35:33,439 Speaker 1: you know, violently throwing bricks into the audience and things 727 00:35:33,440 --> 00:35:35,680 Speaker 1: like that. It's insane. So, yeah, I don't know what's 728 00:35:35,680 --> 00:35:38,279 Speaker 1: gonna happen. I think, you know, at some point, I 729 00:35:38,320 --> 00:35:40,120 Speaker 1: guess if you say, if you fix the money, you 730 00:35:40,120 --> 00:35:41,600 Speaker 1: can save the world, that's kind of what I know 731 00:35:41,640 --> 00:35:44,400 Speaker 1: both of us believe. And I guess to your point earlier, 732 00:35:44,520 --> 00:35:50,600 Speaker 1: like some rich people with some strong ideological viewpoints potentially 733 00:35:50,640 --> 00:35:54,520 Speaker 1: to purposely destroy things have been able to get lots 734 00:35:54,520 --> 00:35:58,000 Speaker 1: of money and throw that at at these types of 735 00:35:58,040 --> 00:36:00,880 Speaker 1: district attorneys to run. And if we had a sound 736 00:36:00,880 --> 00:36:04,239 Speaker 1: money system that was based off of consequence, where if 737 00:36:04,280 --> 00:36:06,759 Speaker 1: you if you squandered your money, you don't get more 738 00:36:06,760 --> 00:36:09,640 Speaker 1: of it, that would change it eventually. But that's a 739 00:36:09,800 --> 00:36:12,320 Speaker 1: that's a long way around. I've been joined in studio 740 00:36:12,440 --> 00:36:15,920 Speaker 1: with my friend Q breaking down these latest news headlines. 741 00:36:16,120 --> 00:36:18,600 Speaker 1: Hopefully enjoyed that. Let us know, hit me up on 742 00:36:18,640 --> 00:36:20,560 Speaker 1: social media at one Mark Moss, let me know what 743 00:36:20,560 --> 00:36:22,919 Speaker 1: you think. And that's what I got until next time.