Speaker 1: Hello, and welcome to another episode of The Mark Moss Show,
Speaker 1: of course, where we're talking about the decentralized revolution, the
Speaker 1: way the world's changing, of course, as we look at
Speaker 1: it through the lens of politics, finance, and technology, and
Speaker 1: you know, trying to change the way you think about money,
Speaker 1: trying to change the way you think about the world.
Speaker 1: So I try to bring you some education to kind
Speaker 1: of help change the way you see things and think
Speaker 1: about things. Of course, some of the latest breaking news
Speaker 1: headlines you can stay on top of the world as
Speaker 1: it's changing, and some interesting guests. But right now I
Speaker 1: want to talk about what has been going on this week,
Speaker 1: because it has been wild. There's been some big stories
Speaker 1: that are really cementing my.
Speaker 2: Thesis of this decentralized revolution.
Speaker 1: A lot of times people ask me, Mark, when is
Speaker 1: the pendulum going to swing back? When all I see
Speaker 1: is still centralization, I don't see your thesis playing out. Well, one,
Speaker 1: you're zoom didn't wait too close, but two, holy cow,
Speaker 1: it's happening right now. And so this week has been
Speaker 1: big news, of course, dominated by the banking crisis in
Speaker 1: the United States, and it's been going on for a
Speaker 1: couple of weeks. And it is really picking up steam.
Speaker 1: As a matter of fact, we just saw another bank
Speaker 1: go down this week, and that is First Republic Bank.
Speaker 1: Now it's important to understand what is going on here
Speaker 1: for a couple of reasons. It's not just like, well,
Speaker 1: another bank go down. A lot of people still have
Speaker 1: sort of this PTSD, if you will, This PTSD from
Speaker 1: the two thousand and eight banking crisis that led to
Speaker 1: the Great Financial Crisis. And during that time in two
Speaker 1: thousand and eight, we had a lot of banks fail obviously, right,
Speaker 1: but can you believe that since then we've seen an
Speaker 1: even worse banking crisis. Now, what is worse, well, not
Speaker 1: worse in the terms of numbers of banks, but in
Speaker 1: the size of the banks. The largest banking failure in
Speaker 1: US history happened in two thousand and eight.
Speaker 2: That was Washington Mutual.
Speaker 1: Bank and it had three hundred billion in assets. First
Speaker 1: Republic Bank is the second largest bank failure in history.
Speaker 1: It had two hundred and twenty nine billion. But we
Speaker 1: also saw the failure of Silicon Valley Bank. We also
Speaker 1: saw the failure of Signature Bank. We also saw the
Speaker 1: failure of Silvergate Bank before that, But Silicon Valley Bank
Speaker 1: and Signature Bank, where the third and fourth largest banking
Speaker 1: crisis collapses in US history. So collectively, the three banks
Speaker 1: that have gone down in just the last couple of
Speaker 1: weeks dwarf what happened, I don't want to say dwarf,
Speaker 1: but are bigger than what happened in two thousand and eight.
Speaker 1: So while a lot of people say, well, we're not
Speaker 1: going to see another banking crisis, what we already are
Speaker 1: The banks that have collapped in just the last three
Speaker 1: or four weeks are already worse than what happened in
Speaker 1: two thousand and eight. So we're there now. I don't
Speaker 1: want to go through all the mechanics of that. I'm
Speaker 1: sure you've probably already seen enough of that in a
Speaker 1: number of other news sources. But what happened I think
Speaker 1: is more important here. But even more important than that,
Speaker 1: is what does this mean?
Speaker 2: Where? Where are we going with this?
Speaker 1: Well? You know one thing that I talk about quite
Speaker 1: often here is I talk about central bank digital currencies,
Speaker 1: which is of course more centralization. It's the central banks
Speaker 1: taking over control over the money. And so rather than
Speaker 1: having a decentralized banking system where we have all these
Speaker 1: regional banks, local banks credit unions, et cetera that are
Speaker 1: making local regional decisions knowing me personally and knowing what
Speaker 1: I need in my local area. Personally, we're moving to
Speaker 1: an area all we have is these big banks, and
Speaker 1: these big banks basically take over everything, and then instead
Speaker 1: of a local banker that knows me and what my
Speaker 1: local area needs, have to deal with some banker in
Speaker 1: New York who doesn't know me and doesn't know what
Speaker 1: I need. And that's sort of where we're going, and
Speaker 1: we're seeing it happening in rapid time. As a matter
Speaker 1: of fact, what happened with First Republic Bank, Well, it's
Speaker 1: good for the depositors in the short run. What do
Speaker 1: I mean, Well, the depositors didn't lose any money. So
Speaker 1: here we are again finding FDI and C insurance only
Speaker 1: covers up to two hundred fifty thousand dollars. However, lots
Speaker 1: of depositors had funds well over two hund fifty thousand dollars.
Speaker 1: So the good news is for the depositors they didn't
Speaker 1: lose any money, that all got covered. The bad news
Speaker 1: is is that we're continuing to see this centralization of
Speaker 1: the banks. As a matter of fact, thirty years ago
Speaker 1: in the United States, we had almost eleven thousand banks.
Speaker 1: Today we have about four thousand banks, so we have
Speaker 1: about thirty five percent of the banks that we had
Speaker 1: thirty years ago. So we're seeing this massive centralization. Now,
Speaker 1: what sort of centralization? Who dok it over? Well, of
Speaker 1: course it.
Speaker 2: Was JP Morgan.
Speaker 1: JP Morgan seems to always be there to help o
Speaker 1: whatever they need be. As a matter of fact, JP
Speaker 1: Morgan has a long history of this. We saw them
Speaker 1: way back in the day helping out. As a matter
Speaker 1: of fact, before we had the Federal Reserve, JP Morgan
Speaker 1: was there in the Panic of nineteen oh seven in
Speaker 1: the banking crisis, JP Morgan stepped up to save the day.
Speaker 1: Then JP Morgan was the one that led to the
Speaker 1: creation of the Federal Reserve. And now JP Morgan is
Speaker 1: still there saving the day. Now, don't think that there's
Speaker 1: some hero here. As Jamie Diamond, the CEO of JP
Speaker 1: Morgan said, quote, our government invited us to step up,
Speaker 1: so we did end quote. That's what Jamie Diamond said.
Speaker 1: So thank you, Jamie Diamond for thanklessly for serving the
Speaker 1: American people in a way to save the day. Never
Speaker 1: mind the fact that they generated a one time gain
Speaker 1: of two point six billion dollars.
Speaker 2: Yes, with a B billion, they.
Speaker 1: Expect an ongoing five hundred million dollars of profit per
Speaker 1: year now in doing so. The reason why they stepped
Speaker 1: up is because the government took over all the losses
Speaker 1: of the banks and gave them all the profits two
Speaker 1: point six billion dollars plus five hundred million dollars per
Speaker 1: year moving forward, the FDIC insurance covered thirteen billion dollars
Speaker 1: in losses. This is another example of socializing the losses
Speaker 1: and privatizing the gains. We all get to pay for
Speaker 1: the losses and Jamie Diamond gets to keep all of
Speaker 1: the profits. And the FDIC insurance also covered fifty billion
Speaker 1: dollars in financing for them. So we're seeing the centralization
Speaker 1: of the banking system, the consolidation of the banking system,
Speaker 1: and it's it's doing a couple things. One, in the
Speaker 1: short term, it's helping the Federal Reserve to continue to
Speaker 1: tighten the screws on economy, to continue quantitative tightening where
Speaker 1: they're raising interest rates at the fastest rate in history.
Speaker 1: And of course it's causing the banks to collapse, but
Speaker 1: it's pushing them right into the lapse of the big
Speaker 1: banks like JP Morgan. Now, if you don't know, the
Speaker 1: Central Bank, the Federal Reserve is not federal and they
Speaker 1: have no reserves. They're not federal, they're not part of
Speaker 1: the government. They're made up of member banks. And who's
Speaker 1: the most important member bank. Oh, that would be the
Speaker 1: New York.
Speaker 2: Bank, and that would be Jamie Diamond.
Speaker 1: Of course, of course it's Jamie Diamond who controls app
Speaker 1: And what we're seeing through this consolidation is basically all
Speaker 1: of the banks that we have, all the smaller banks
Speaker 1: are consolidating into the big four, which are City Group, City,
Speaker 1: JP Morgan, Chase, Bank of America, and Wells Fargo. And
Speaker 1: they're becoming these two big to fail institutions. We're seeing
Speaker 1: the end of capitalism as we know it. And really
Speaker 1: what we're seeing is the nationalization of the banking sector.
Speaker 1: And it's not over. We see this week more banks
Speaker 1: are crashing. Pack West Bank in California, it's stock crashed
Speaker 1: sixty percent. As a matter of fact, there's an index
Speaker 1: you can look at, the kr It's a bank index
Speaker 1: of regional banks, and it is plummeting like a rock.
Speaker 1: And so all of these small regional banks are collapsing,
Speaker 1: and what the Fed do? They raise their rates even more,
Speaker 1: so what should you expect? Unfortunately, more banking collapses. What else?
Speaker 1: More socialization of losses and privatizing the gains, more banking consolidation.
Speaker 1: And so while we're moving into a more centralized world,
Speaker 1: we also have a decentralized option. So if you're worried
Speaker 1: about the banking collapse and you're worried about your money
Speaker 1: in the bank, well you can opt out. We have bitcoin.
Speaker 1: You can easily just buy bitcoin. Of course, you can
Speaker 1: go buy gold, you can go buy real estate, you
Speaker 1: can go buy stocks, whatever you want. But bitcoin is
Speaker 1: the decentralized option that's set to counteract all of this
Speaker 1: and help us to beat the great bank nationalization of
Speaker 1: twenty twenty three. If you're just tuning in, you are
Speaker 1: listening to the Mark Mass Show. Of course, we're talking
Speaker 1: about the decentralized revolution, how the world is changing and
Speaker 1: we're witnessing and we're still at the precipice here, we're
Speaker 1: still watching the pendulum peeking out of centralization and decentralization.
Speaker 1: I'm running through some of the biggest news headlines of
Speaker 1: this week. I got more to go through because it
Speaker 1: has been a busy week. But anyway, you're listening to
Speaker 1: the Mark Mass Show, I got more headlines to cover
Speaker 1: when I come back in a second. Don't go away, I'll.
Speaker 2: Be right back.
Speaker 1: Hello, welcome back. If you're just tuning in, you're listening
Speaker 1: to the Mark Mass Show. Of course, we're talking about
Speaker 1: the decentralized revolution like we do each and every week,
Speaker 1: as we look at it through the lens of politics, finance,
Speaker 1: and technology, and really we're looking for the convergence of
Speaker 1: those three things because that's what brings us context and
Speaker 1: helps us understand what's going on in the world, particularly
Speaker 1: when it comes to our money, which is driving this
Speaker 1: whole world and this decentralization. Now, you know, like I said,
Speaker 1: there's been so many new stories coming as so fast.
Speaker 1: It's hard to stay on top of this, and more importantly,
Speaker 1: it's hard to understand what is going on. One of
Speaker 1: the big stories dominated news headlines as it should, is
Speaker 1: that the United States government has less than thirty days
Speaker 1: of cash left on hand. Now that's the big deal.
Speaker 1: I mean, it's more than a big deal. We're talking
Speaker 1: about what twenty six trillion dollar economy, the greatest economy
Speaker 1: in the history of the world, the greatest military in
Speaker 1: the history of the world, the greatest ingenuity in the
Speaker 1: history of the world. Twenty six trillion dollar economy. We're talking,
Speaker 1: you know, five to six trillion dollars of revenue coming
Speaker 1: in from taxes, and yet they have less than thirty days.
Speaker 2: Of cash on hand.
Speaker 1: Imagine if you ran your finances like that. Now, I've
Speaker 1: been talking about this for a while. It shouldn't come
Speaker 1: as a huge surprise to you. Part of it, well,
Speaker 1: it's two parts. How does anyone go broke? Well, it's
Speaker 1: usually two parts of the equation. One there's an incum problem,
Speaker 1: and two there's an expense problem. There's a spending problem.
Speaker 1: So easy math is, you're spending more than you're bringing in, obviously,
Speaker 1: and so that's what the federal government has. Of course, right,
Speaker 1: they continue to spend more and more money every single year,
Speaker 1: and they're they're spending more than they're making. Now they're
Speaker 1: spending more every year, and now we're seeing income plummeting.
Speaker 1: And I've been talking about this for a while. I
Speaker 1: told you this was coming six eight months ago. And
Speaker 1: the reason why is because the Fed going on the
Speaker 1: war path of raising rates at the fastest pace in history,
Speaker 1: and it's doing a couple things. Why are they doing that,
Speaker 1: of course, to fight inflation. Prices are going up too much,
Speaker 1: and so the Fed says, well, here's what we'll do.
Speaker 1: We'll make everybody broke. And if everybody's broke, then they
Speaker 1: will stop buying as much, they won't drive as much,
Speaker 1: they won't eat out as much, they won't travel as much,
Speaker 1: and that will bring prices down. They're going to crush
Speaker 1: demand quote unquote crush demand by making people broke. The
Speaker 1: problem is when people are broke and asset prices come down,
Speaker 1: or they don't have a much money to spend, and
Speaker 1: then they don't pay as much taxes. And if they
Speaker 1: don't pay as much taxes, then the government doesn't have
Speaker 1: any income. But unlike you and I, who if our
Speaker 1: income goes down, where our expenses go down. No, no, no,
Speaker 1: not the government. Even though income goes down, expenses are
Speaker 1: still going up. And here we are at the debt
Speaker 1: limit ceiling. Again. You've heard this before. We've been at
Speaker 1: this point several times in history. As a matter of fact,
Speaker 1: dozens of times in history, because every single time we
Speaker 1: hit the debt limit we have to raise it. And
Speaker 1: every time we get to this point where we hit
Speaker 1: the debt limit ceiling, a debate happens to how high
Speaker 1: should we raise it, what should we do about in
Speaker 1: all those things? And here we are at another debate,
Speaker 1: and you know, seemingly at a stalemate, and again we've
Speaker 1: been at a stillmate before. But is it okay? Is
Speaker 1: it okay if we get past the stealmate? In my opinion,
Speaker 1: even if and I would say the most probable outcome
Speaker 1: is we do come to a resolution on this. But
Speaker 1: even if we do, there's irreputable harm that's happening. So
Speaker 1: let's break down what's happening a little bit here. So
Speaker 1: first of all, we're at about thirty two trillion dollars
Speaker 1: of government debt.
Speaker 2: And when they say, well.
Speaker 1: We owe it to ourselves, well.
Speaker 2: Yes and no.
Speaker 1: If you have a pension, most likely you've bought government
Speaker 1: debt and they owe you money. If you're a foreign
Speaker 1: government or some sort of sovereign fund.
Speaker 2: You own government debt.
Speaker 1: So if the government defaults on that, that means your
Speaker 1: retirement probably takes a massive hit or goes away, right,
Speaker 1: But it also does irreparable harm to the country itself.
Speaker 1: The very fact that we're even debating this weakens the
Speaker 1: confidence and the trust in the United States government and
Speaker 1: the currency and all those things. We know that in
Speaker 1: two previous debt ceialing debates in twenty eleven and twenty
Speaker 1: thirteen that went for quite a long time, that were
Speaker 1: two of the most extreme debt debates that we had.
Speaker 1: We saw the credit rating of the United States government
Speaker 1: get lowered. What does that mean, Well, when they lowered
Speaker 1: the when they lowered the credit rating, and that means
Speaker 1: that the government has to pay a higher interest rate
Speaker 1: for the debt. So that happened in twenty eleven during
Speaker 1: that showdown. Now, Alan Greenspan famously went on TV you know,
Speaker 1: when he was still heead of the Federal Reserve, and
Speaker 1: said that the United States can never default on its
Speaker 1: debt because it has a money printer. And I've made
Speaker 1: that case many times. I don't believe any country with
Speaker 1: a money printer will ever default. However, it's not totally true,
Speaker 1: because there's actually two types of defaults. One is a
Speaker 1: deflationary default where we don't pay the money, and the
Speaker 1: second is an inflationary default where we print the money.
Speaker 1: They're both defaults. So, for example, if I owed you
Speaker 1: a Mona Lisa painting, I borrowed it from you. I
Speaker 1: owed it to you, but instead of giving you the
Speaker 1: Mona Lisa print painting, I just printed one off my
Speaker 1: ink jet printer and I gave it to you. That's inflationary.
Speaker 1: I printed a counterfeit and I gave you the counterfeit
Speaker 1: instead of back what you owed. That's a default as well.
Speaker 1: Default one, I don't give you the Mona Lisa back.
Speaker 1: Fault number two. I printed on mainjet and I give
Speaker 1: it to you. And that's basically with the government don
Speaker 1: So we know in nineteen thirty three, the government owed
Speaker 1: gold and so they just stole it from all the people.
Speaker 1: Nineteen thirty three, they made it illegal for Americans to
Speaker 1: own gold, and then they devalue. They changed the price
Speaker 1: from twenty dollars nouns to thirty five dollars ounce.
Speaker 2: That's a default.
Speaker 1: Nineteen seventy one, the nations around the world one of
Speaker 1: the all their gold back from the United States. France
Speaker 1: sent over warships to collect the gold, and Richard Nixon said, Nope,
Speaker 1: the gold windows closed. We're not giving gold back anymore.
Speaker 1: That was a default, so it does happen. But here
Speaker 1: we are back at another debate here, and I want
Speaker 1: to break this down for you a little bit, just
Speaker 1: you can understand what they're fighting over.
Speaker 2: So you understand where we're going here.
Speaker 1: So check it out. So the Biden administration wants unlimited
Speaker 1: spending power, so just get rid of the debt ceiling limit.
Speaker 1: Let's just spend as much as we want. The Republicans
Speaker 1: want to spend a bunch of money as well. They
Speaker 1: just want to spend a little bit less. So I'm
Speaker 1: not right or left here. Both sides want to continue
Speaker 1: to print more money once Ide just wants to spend
Speaker 1: even more. The Republicans have a plan. McCarthy put together
Speaker 1: a plant called Limits, Save Grow Act, and they said, look,
Speaker 1: we'll raise the debt limit by one point five trillion.
Speaker 1: It's not a small number. We'll raise it by one
Speaker 1: point five trillion. And then what we want to do
Speaker 1: is we want to limit the future budget increases to
Speaker 1: just one percent a year. Now, Biden administration says, oh,
Speaker 1: they're going to cut social Security, You're going to cut Medicare. No,
Speaker 1: they're going to The Republicans said, no caps on soci
Speaker 1: security or Medicare. But what they do want is they
Speaker 1: want stricter welfare rules. Welfare has gotten out of hand.
Speaker 1: As a matter of fact, it's increased by two hundred
Speaker 1: and forty percent over the last forty years. It's got
Speaker 1: out of control, rife with fraud. They want to strict,
Speaker 1: They want to they want to tighten that up a
Speaker 1: little bit. They also want to cut the eighty million
Speaker 1: dollars that the Biden administration wants to give to the
Speaker 1: IRS to arm a bunch of IRS officers to come
Speaker 1: shine flashlights into your accounts of six hundred dollars or more.
Speaker 1: They also want to cancel the student loan forgiveness because
Speaker 1: that's the largest asset on the government's books. They want
Speaker 1: to repeal some pieces of the IRA Act, the Inflation
Speaker 1: Production Act, and they want to add legislation to bring
Speaker 1: US energy back to the United States, meaning, you know,
Speaker 1: get more oil and actric gas out of the ground
Speaker 1: and make the United States energy and dependent again. All
Speaker 1: sound like good things to me. Still increases the budget
Speaker 1: by one point five trillion dollars, But of course the
Speaker 1: bid administration says, no deal, no deal, You're going to
Speaker 1: shut it down. So we'll see how this plays out? Now,
Speaker 1: what does this tell us? It tells us that there
Speaker 1: is massive amounts of money printing ahead. Either way Republican
Speaker 1: or Democrat, doesn't matter, which means more inflation ahead. And
Speaker 1: so we know the directionality.
Speaker 2: We don't know the timing.
Speaker 1: We know the directionality. If you just tune in, you're
Speaker 1: listening to the Mark Maas Show. Of course, we're talking
Speaker 1: about the decentralized Revolution. I'm running through some of the
Speaker 1: biggest news headlines and articles this week so you can
Speaker 1: understand what's going on in the world and more importantly,
Speaker 1: the direction that we're heading in the timeframe. These are
Speaker 1: the signposts that show you where we're going. I got
Speaker 1: a whole lot more to cover. There are some even
Speaker 1: bigger news that I haven't talked about yet this week.
Speaker 1: I might take a quick break. You don't want to
Speaker 1: miss it, so don't go away.
Speaker 2: I'll be right back.
Speaker 1: All right, Welcome back. If you're just tuned in, youwhere
Speaker 1: listening to the Mark mass Show. Of course, we're talking
Speaker 1: about the decentralized revolution each and every week. How to
Speaker 1: run through some of the biggest breaking news headlines. Of course,
Speaker 1: I like to look at them through lens of politics, finance,
Speaker 1: and technology, and the technology is what changes the world
Speaker 1: more than anything. And of course that technology has changed
Speaker 1: the world right now. Is bitcoin the decentralized protocol, the
Speaker 1: decentralized network now, you know? Talking about bitcoin, I went
Speaker 1: on record. I made a couple videos on my main
Speaker 1: YouTube channel, Mark Moss. I do a couple teaching videos
Speaker 1: there per week. So if you want to check those
Speaker 1: out where I have slides and graphs and presentations, just
Speaker 1: go to Mark Moss check out my main YouTube channel there. Also,
Speaker 1: by the way, if you miss any of these shows,
Speaker 1: you can watch me and listen to me on the
Speaker 1: Market Disruptors YouTube channel. But on my main YouTube channel,
Speaker 1: I made some videos and I went on Fox Business
Speaker 1: and Stansbury Radio and all the big shows, and I
Speaker 1: made a statement that I believe that bitcoin, I'm sorry,
Speaker 1: an cryptocurrency as a category wouldn't have another bull run.
Speaker 1: Bitcoin will, but cryptocurrency wouldn't as a category. And the
Speaker 1: reason why I said that is because after the collapse
Speaker 1: of FTX, I knew that the financial regulators were going
Speaker 1: to come after it so hard that it would drive
Speaker 1: a lot of that venture capital money away. And people say, Mark,
Speaker 1: you don't understand it's going to go offshore. Yes it will,
Speaker 1: I agree, Mark, you don't understand, like we'll still trade
Speaker 1: it on decentralized protocols.
Speaker 2: Yes you will. I get that.
Speaker 1: But the big money, the venture capitalists that were putting
Speaker 1: the hundreds of millions of dollars in and putting the
Speaker 1: money into advertising and talking it on TV, that would
Speaker 1: go away. And so would there be little assets that
Speaker 1: will still blow up like what just happened this week
Speaker 1: with that peppy coin and went up to two thousand percent.
Speaker 1: Sure that still will happen. But as a category, the
Speaker 1: days of just you know, closing your eyes, throwing a
Speaker 1: dart and having everything go up, I think that's over.
Speaker 1: I saw this week. Long time crypto advocate, not a
Speaker 1: big fan, not a big friend of bitcoin. I've used
Speaker 1: us some clips of I'm talking about Chamath Pella Petea.
Speaker 1: If I said that right, Chimoth is what they call him,
Speaker 1: and I think he's he's like early early Facebook. He's
Speaker 1: an early bitcoin adopter. He's also been involved in a
Speaker 1: lot of cryptocurrencies. He was a big, big adopter of Solana.
Speaker 1: There's a video that I've used before. Other people have
Speaker 1: posted around where you hear him and like David Zach's
Speaker 1: laughing about, they only buy at a discount, meaning they
Speaker 1: buy cheaper than retail, and then when they can they
Speaker 1: dump it, you know, they dump it on retail. Anyway,
Speaker 1: he went on. He was on CNBC this week talking
Speaker 1: about how he says, quote crypto is dead in America.
Speaker 1: The reason why he says that is because the United
Speaker 1: States has He says, the United States authorities have firmly
Speaker 1: pointed their guns at cryptocurrency. So basically what I'm saying right,
Speaker 1: the regulators are coming so fast and so hard after
Speaker 1: cryptocurrency overall that he says it's dead in America, meaning
Speaker 1: that it's all going to start going offshore, and we're
Speaker 1: seeing that. But again that's crypto, not bitcoin. Bitcoin, on
Speaker 1: the other hand, is has been just blowing up an adoption.
Speaker 1: The price has been doing good the adoption, and what
Speaker 1: we typically want to look at is development on the
Speaker 1: network and use of the network. And I saw this
Speaker 1: week Jack Dorsey's the founder of Twitter, previous CEO of Twitter.
Speaker 1: He has left now to go start bitcoin companies that
Speaker 1: he wants to dedicate the rest of his life to
Speaker 1: working on bitcoin. He announced a legal defense fund for
Speaker 1: any any type of cases that could come against open
Speaker 1: source developers. So if anybody wanted to bring cases against
Speaker 1: any of the open source developers. A bitcoin is an
Speaker 1: open source network. Anybody can join it, anybody can use it.
Speaker 2: Who can.
Speaker 1: It's permissionless, open borderless, permissionless, et cetera, where cryptocurrency is not.
Speaker 1: And so cryptocurrency, you know, like ethereum of Solana or Cardano,
Speaker 1: et cetera, is private, right, it's a it's essential entity.
Speaker 1: And while there are developers that work on it, Bitcoin
Speaker 1: is all open source, and so these core developers aren't
Speaker 1: getting paid. There's no company funds that pay them, there's
Speaker 1: et cetera. And so he has opened up a legal
Speaker 1: defense fund. I thought that was pretty interesting. But talking
Speaker 1: about the development that's been going on, it's been blowing up.
Speaker 1: You might, of course know by now about Michael Sailor.
Speaker 1: He's one of the largest bitcoin holders in the world.
Speaker 1: Billionaire owns like one hundred and thirty thousand something like
Speaker 1: that bitcoin worth billions of dollars. His company, micro Strategy,
Speaker 1: which is a technology company, has been holding an event
Speaker 1: all week for corporate leaders talking about ways they can
Speaker 1: integrate bitcoin and Lightning into their businesses for payments, how
Speaker 1: they can reimagine their payments. Bitcoin isn't just a form
Speaker 1: of money, it's a network. And with Bitcoin and the
Speaker 1: network and the Lightning network, there's all types of new
Speaker 1: use cases that can be done on that network. And
Speaker 1: that's exactly what they're talking about. And so remember we
Speaker 1: want to look at two things, that the development on
Speaker 1: the network and the growth of the network. And this
Speaker 1: is massive development on the network. He's bringing Fortune five
Speaker 1: hundred CEOs financial executive technology innovators from all over the
Speaker 1: world in to figure out how they can use this
Speaker 1: new network, not the money, the network and the technology
Speaker 1: for their businesses. Pretty amazing. I also saw this week
Speaker 1: something that I thought was really cool, and that is
Speaker 1: a new type of network, a peer to peer marketplace,
Speaker 1: if you will, that's being built on bitcoin. And so
Speaker 1: this will be a full fledged marketplace that is censorship resistant,
Speaker 1: it's permissionless, it's all built on open source technology, and
Speaker 1: it's all peer to peer. And so if you think
Speaker 1: about you know eBay or Amazon for example, those are marketplaces, right,
Speaker 1: but Amazon sits in the middle. Amazon says who can
Speaker 1: and can't sell or on Amazon? Amazon cells what can
Speaker 1: and can't be bought or sold on Amazon, and so
Speaker 1: you have this central entity that sits in the middle
Speaker 1: that's able to censor us, et cetera. And they want
Speaker 1: to build a new peer to peer electronic marketplace, which
Speaker 1: I thought was pretty cool. And they're using it not
Speaker 1: on the Bitcoin technology necessarily, but on the Noster architecture.
Speaker 1: So I've been talking about this quite a bit. We
Speaker 1: have these open monetary protocols like Bitcoin, and then we
Speaker 1: have these open communication on protocols like Noster. Is a
Speaker 1: new way that we can communicate peer to peer. So
Speaker 1: instead of the Internet that goes to a central entity,
Speaker 1: it can communicate peer to peer. And so they're building
Speaker 1: it on top of this Noster architecture and then integrating
Speaker 1: the Bitcoin Lightning network into it. So you have this
Speaker 1: decentralized platform, decentralized identity, decentralized moderation and all, and then
Speaker 1: peer to peer inside of it, so we can communicate
Speaker 1: between us and transfer money. It's pretty amazing. It's just
Speaker 1: in the beginning stages right now, but it gives you
Speaker 1: an idea of exactly what's going on here in the space.
Speaker 2: And it's like I said, it's happening fast.
Speaker 1: And of course, you know, while there's this massive innovation happening,
Speaker 1: just like anytime there would be what we call creative destruction,
Speaker 1: something new comes and a new creation, it destroys the
Speaker 1: old way, and unfortunately, disruptive technology does that, and so
Speaker 1: we're seeing some crazy pushback. As a matter of fact,
Speaker 1: this week we saw the White House, President Biden and
Speaker 1: the administration put together one of the most stupid, most
Speaker 1: crazy bills I could even imagine, and they want to
Speaker 1: propose a thirty percent tax on any energy that would
Speaker 1: be used by bitcoin minors. So if you buy a
Speaker 1: computer and plug it in and happen to use that
Speaker 1: computer on a network in a data center to work
Speaker 1: on bitcoin, you have to pay a thirty percent tax
Speaker 1: on that energy. But if you use the computer in
Speaker 1: the data center to stream porn or to play video
Speaker 1: games or watch YouTube videos, you don't have to pay
Speaker 1: a tax. So now the government is going to tell
Speaker 1: you what you can and can't use your computer for you,
Speaker 1: what you can and can't use electricity for.
Speaker 2: Think about that for a second.
Speaker 1: I've said, you know, I've seen the government's talking about
Speaker 1: banning what type of stove you can use when the
Speaker 1: government is trying to tell you what you can cook
Speaker 1: your food with, When the government's trying to tell you
Speaker 1: what you can and can't use your electricity for. I
Speaker 1: think the government's too big now. I think the government's
Speaker 1: been way too big for way too long anyway, but
Speaker 1: it's definitely too big when they're trying to tell you
Speaker 1: what you can cook your food with or what you
Speaker 1: can use.
Speaker 2: Your electricity for. And it's coming to a head.
Speaker 1: We're going to see this all happening much faster than
Speaker 1: we could imagine, especially really to ahead in this next
Speaker 1: presidential election, where we're starting to see president's potential presidential
Speaker 1: candidates on both sides of the aisle running on a
Speaker 1: bitcoin and Central Bank digital currency platform. Ron DeSantis on
Speaker 1: one side, RFK Junior on the other, and Vimmick Ramaswami
Speaker 1: coming out of nowhere trying to make a name for himself,
Speaker 1: also run on that platform. If you're just tuning in,
Speaker 1: you're listening to the Mark Maus Show. Of course, we're
Speaker 1: talking about the decentralized revolution, the way the world changes,
Speaker 1: and I got more news headlines that you don't want
Speaker 1: to miss. I'm gonna be back in a second I
Speaker 1: take a quick break, don't go away, all right, welcome back.
Speaker 1: If you're just tuning in, you're listening to the Mark
Speaker 1: Mas Show. Of course, we are always talking about the
Speaker 1: way the world is changing from a centralized world to
Speaker 1: a decentralized world, and we look at it through the
Speaker 1: lens of politics, finance technology. And we're running through some
Speaker 1: of the biggest news headlines this week, so you can
Speaker 1: see that it is literally happening right before very eyes.
Speaker 1: And of course we look at through the lens of
Speaker 1: politics finance technology because like I said that, I think
Speaker 1: that gives us the most comprehensive view. Like I said,
Speaker 1: it brings everything into context and they all feed into
Speaker 1: each other. Right, So solutions come to problems, problems need solutions,
Speaker 1: et cetera.
Speaker 2: And man.
Speaker 1: Coming from I don't know, the Great State of California,
Speaker 1: we'll call it that. As I say, the formerly great
Speaker 1: state of California, in my opinion, is still great. Sure
Speaker 1: it's bankrupt, and sure it's full of homeless people, and
Speaker 1: sure it's leading trying to lead in crime, but it's
Speaker 1: still pretty great. I heard what was his name, I
Speaker 1: mentioned him earlier, Adam Carolla, and he's from California, and
Speaker 1: he was talking about how he's like, I think he's
Speaker 1: a comedian, so it'd be more funny coming from him.
Speaker 1: But he said something like, I think California is sort
Speaker 1: of like that, you know, really hot girl in high
Speaker 1: school that everyone thought was the most beautiful girl, and
Speaker 1: now she's like forty five or fifty years old. Right, Like,
Speaker 1: California still seems to be living off its laurels.
Speaker 2: But I think it's still great anyway.
Speaker 1: Unfortunately in the big cities of California, which I do
Speaker 1: not live in. Luckily, I'm living in a red county
Speaker 1: in a red town, but in some of the big
Speaker 1: cities of California, it is a complete and utter nightmare.
Speaker 1: As a matter of fact, San Francisco is trying to
Speaker 1: lead the world and show the way.
Speaker 2: That we shouldn't go, but yet.
Speaker 1: For some reason, cities seemingly want to copy what San
Speaker 1: Francisco is doing. As a matter of fact, the Los
Speaker 1: Angeles brought the district attorney of San Francisco down and
Speaker 1: gave him a job in LA so we could turn
Speaker 1: La into the same as San Francisco, which again is
Speaker 1: not a way that we should be wanting to go.
Speaker 1: But in San Francisco. It has been a complete breakdown
Speaker 1: of all law and order. And what do you think
Speaker 1: happens with a breakdown of law and order when you
Speaker 1: have when you decriminalize crime, When you decriminalize crime drug use,
Speaker 1: When you decriminalize crime, a theft, any theft under a
Speaker 1: thousand dollars is okay. When you decriminalize those things, when
Speaker 1: you decriminalize resisting arrest, what do you think happens, Well,
Speaker 1: you get more of it. So you have people living
Speaker 1: all over the streets in San Francisco doing drugs in daylight,
Speaker 1: stealing from all the stores, and the police will do
Speaker 1: nothing about.
Speaker 2: It because it's not a crime.
Speaker 1: I once heard a saying and said that San Francisco
Speaker 1: is the city where a dog has to be afraid
Speaker 1: to step in human feces, And well, that's kind of
Speaker 1: a joke, not really. If you've been there, especially in
Speaker 1: these main downtown areas, you know that's the truth. And
Speaker 1: you know, unfortunately, what happens when you have high crime
Speaker 1: like that is that law abiding citizens can't stay there.
Speaker 1: Nobody's going to live there. The reason why, one of
Speaker 1: the main reasons why people leave these third world countries
Speaker 1: is because they don't feel safe there, and so you
Speaker 1: can look at example after example after example. I've gave
Speaker 1: the story of Detroit before of how that city fell
Speaker 1: into disrepair, and basically, the people that can afford to
Speaker 1: leave leave, and so in San Francisco, in the downtown areas,
Speaker 1: the people that can't afford to leave have left, and
Speaker 1: all the stores that have been left there have been
Speaker 1: hit with a double whammy. One, their customers that had
Speaker 1: money to shop there are no longer there. But two,
Speaker 1: because now any homeless person can steal whatever they want
Speaker 1: from them, and they do. They're constantly being hit with theft,
Speaker 1: and we're seeing an example after example of example of
Speaker 1: businesses shutting down. As a matter of fact, we saw
Speaker 1: Whole Foods, I think in the last week announcing that
Speaker 1: they're done. They had people overdosing in the bathrooms, they
Speaker 1: had fights breaking out, constant theft. We just saw this
Speaker 1: week Nordstrom is now shutting down both downtown San Francisco stores,
Speaker 1: and of course they cite difficult conditions. They said, quote
Speaker 1: the dynamics of the downtown San Francisco market have changed
Speaker 1: dramatically over the past several years, impacting customer foot traffic
Speaker 1: to our stores and our ability to operate successfully. Yeah,
Speaker 1: it turns out when you have people blocking the interests
Speaker 1: in and defcating on the floors and overdosing in the bathroom,
Speaker 1: people don't want to go there. And when people don't
Speaker 1: want to go there and you're not making money and
Speaker 1: then everyone's stealing from you, turns out, yes, it is
Speaker 1: in their quote, it's difficult to operate successfully. But I
Speaker 1: don't understand why when you see this happening, people want
Speaker 1: more of it. We saw in Chicago. We're seeing the
Speaker 1: same thing. Chicago voters had a clear choice elect the
Speaker 1: new mayor who would be tougher on crime or elect
Speaker 1: a new mayor who would be more leaning on crime,
Speaker 1: and somehow they chose someone to be more leanient on crime. Look,
Speaker 1: nobody wants this. Somehow this is getting through. I'll let
Speaker 1: you fill in the blank on how nobody wants to
Speaker 1: live in an area of crime. Nobody.
Speaker 2: I mean, I guess if you're a criminal.
Speaker 1: But no productive of society, no productive member of society
Speaker 1: wants to do that. I SAWREI is now closing its
Speaker 1: Portland store break ins and theft. In an email to
Speaker 1: customers Monday, ARII said, It's store in Portland quote had
Speaker 1: its highest number of break ins and thefts in two decades,
Speaker 1: despite actions to provide extra security end quote. They're done
Speaker 1: with it. They can't, they can't do it. Nobody wants
Speaker 1: to live there, and no stores can operate on that.
Speaker 1: Now we're seeing Office Depot will close us downtown location
Speaker 1: in San Francisco, An employee confirmed on Tuesday the closes.
Speaker 1: The closures are the latest in a series of retailers
Speaker 1: leaving Union Square in downtown San Francisco. I mean, it's
Speaker 1: just it's just a bloodbath going on everywhere. And of course,
Speaker 1: like I said, who wants to live around in those
Speaker 1: types of areas? And what happens if this continues? What
Speaker 1: type of world do we have? What type of world
Speaker 1: do we live in if people are eager to riot
Speaker 1: and loot? Now, what will America look like once the
Speaker 1: economic conditions really get bad? Like this isn't what a
Speaker 1: civilized society looks like. You're post to punish crime. Unfortunately,
Speaker 1: you have to punish crime. In California high schools, the
Speaker 1: teachers aren't even allowed to send kids to the principal's
Speaker 1: office anymore because if they send someonebody to the principal's office.
Speaker 1: They might feel bad about themselves, and so they can't
Speaker 1: do that. When I was a kid, you would go
Speaker 1: to the principal's office and they would spank you. They
Speaker 1: would get out of paddle and literally spank you. That
Speaker 1: used to happen, and guess what, we didn't have all
Speaker 1: this crime back then. People need correction. You know anything
Speaker 1: about training animals, if you know anything about human nature,
Speaker 1: there's a carrot, there's incentives, and there's a stick. And
Speaker 1: it's not just the United States we're seeing this. We're
Speaker 1: seeing France is also breaking down. If you haven't been
Speaker 1: paying attention, I don't know where you've been living, But
Speaker 1: for like about the last one hundred days or so,
Speaker 1: France has had massive amounts of protest going on. The
Speaker 1: President Macron is trying to quiet things down. He's calling
Speaker 1: for quote a new pact life and work, but the
Speaker 1: people don't want it. The people don't want it, and
Speaker 1: they want to point to well, they have to raise
Speaker 1: the retirement age by two years, you know, or whatever,
Speaker 1: But that's not it. It's a long line of abuse.
Speaker 1: It's the proverbial straw that broke the camel's back.
Speaker 2: If you will, and so the people are over it.
Speaker 2: The people are tired of it.
Speaker 1: There's millions of people in the streets in in in France, rioting,
Speaker 1: fighting with police, and social mainstream media wants to be
Speaker 1: silent on this. Mainstream media wants to have a complete blackout.
Speaker 1: If you're on social media specifically like on Twitter, you
Speaker 1: can see first hand accounts, firsthand videos of this. But
Speaker 1: this is not just a United States issue. Anywhere they
Speaker 1: want to be soft on these things, it's going to happen. Now,
Speaker 1: what does this mean for America. Well, one, we could
Speaker 1: take away, shoot, we probably don't want pension reform here
Speaker 1: in the United States because people might not like that.
Speaker 1: But ultimately we we're gonna have to repeal. We have
Speaker 1: to pull back on these authoritarian measures. You can only
Speaker 1: push the people so far. History is a never ending
Speaker 1: repeat story of peace and freedom but then eventually repression
Speaker 1: and then eventually revolution and it's just never any story
Speaker 1: of that. And I don't want that to continue. And
Speaker 1: so hopefully the leaders will see this and start pulling back.
Speaker 1: But unfortunately it looks like we're headed into a recession now.
Speaker 1: Been listening to the Mark Ma Show talking about the
Speaker 1: decentralized revolution, talking about the way the world is changing
Speaker 1: before our very eyes. And that's what I got for
Speaker 1: you this week.
Speaker 2: Thanks so much for listening.