WEBVTT - Bitcoin - Tech - Disinformation 0:00:00.040 --> 0:00:02.120 All right, welcome back here listening to the Mark Moa Show. 0:00:02.120 --> 0:00:04.760 We're talking about the decentralized revolution, talking about the way 0:00:04.800 --> 0:00:06.760 the world is changing, of course, each and every week, 0:00:06.840 --> 0:00:11.280 from a centralized world of globalism and centralization to a 0:00:11.320 --> 0:00:14.360 world of decentralization that's happening before I. Of course, we 0:00:14.360 --> 0:00:18.280 look at it through the lens of politics, finance, and technology. 0:00:18.560 --> 0:00:21.239 We're covering all of those who can have context to 0:00:21.320 --> 0:00:23.800 what's going We're looking at some of the latest breaking 0:00:23.840 --> 0:00:26.360 news this week. Some of the big news has been 0:00:26.360 --> 0:00:28.479 dominating all the headlines. You've been seeing it all over 0:00:28.520 --> 0:00:30.639 the place. Um, and I'm gonna give you a different 0:00:30.640 --> 0:00:32.320 perspective on it. But some of those news that we've 0:00:32.320 --> 0:00:36.920 been seeing coming out is of course from the big 0:00:36.960 --> 0:00:39.400 meetings in the world economic form that's been going on, 0:00:40.400 --> 0:00:41.760 and they've been talking about a lot of things. We 0:00:41.840 --> 0:00:43.440 already talked about a lot of this stuff. But one 0:00:43.440 --> 0:00:45.520 of the things that I keep seeing coming out over 0:00:45.680 --> 0:00:49.159 and over and over, and I think it's one of 0:00:49.240 --> 0:00:51.479 the more important, one of the most important things going on, 0:00:51.680 --> 0:00:58.120 is this continued pounding the table on disinformation disinformation over 0:00:58.280 --> 0:01:02.560 and over and over, and they're calling for censorship they're 0:01:02.560 --> 0:01:07.960 calling for control, they're calling for power because they want 0:01:08.040 --> 0:01:12.240 to stop this misinformation or this disinformation that we suffer from. 0:01:12.360 --> 0:01:15.480 As a matter of fact, New York Times publisher A. G. 0:01:15.760 --> 0:01:23.520 Sulzberger described disinformation as quote the most excess existential problem 0:01:23.640 --> 0:01:29.840 the world is facing today. That's the biggest problem in 0:01:29.840 --> 0:01:32.800 the world's facing today. Not the nuclear war that's about 0:01:32.800 --> 0:01:36.119 to happen Russia's threatening. Not not the nuclear war, not 0:01:36.160 --> 0:01:39.559 the potential nuclear war with China and Taiwan, Not the 0:01:39.560 --> 0:01:41.280 the u n s that a billion people will starve 0:01:41.360 --> 0:01:43.759 to death potentially the next two years, and not none 0:01:43.800 --> 0:01:45.920 of that. That's not a problem. No, no, no, no, 0:01:46.040 --> 0:01:48.240 that the biggest problem that the world is facing today 0:01:48.520 --> 0:01:54.840 is disinformation. Apparently. Uh. CNN host Brian Stelter was was 0:01:54.880 --> 0:01:56.600 a host for some of the panels of the World 0:01:56.600 --> 0:02:01.600 Look on mc forum and uh basically sound there. Um. 0:02:01.640 --> 0:02:03.840 And of course he's a fan of this. He's previously 0:02:03.840 --> 0:02:06.520 called for censorship under what he called a quote harm 0:02:06.760 --> 0:02:10.920 reduction model. And they led this panel on on on 0:02:11.080 --> 0:02:15.239 how Democrats could reshape the news. He's a news guy 0:02:15.320 --> 0:02:19.920 from CNN. Now I'll let you know that CNN's host 0:02:20.000 --> 0:02:23.960 Bryan Stelter is no stranger to this in this information. 0:02:23.960 --> 0:02:26.440 As a matter of fact, he's been confronted, accused, and 0:02:26.680 --> 0:02:30.200 actually substantiated that. He has been disseminated his own false 0:02:30.240 --> 0:02:34.760 stories many times, many, many, many times. So it's it's 0:02:34.800 --> 0:02:37.560 a kind of kind of ironic for him to be 0:02:37.600 --> 0:02:40.560 sitting there having hosting his panels where they're talking about 0:02:40.639 --> 0:02:44.919 disinformation being the most existential problem the world is facing today. 0:02:45.400 --> 0:02:51.600 Sulzburger insisted that disinformation is the reason why. I can't 0:02:51.600 --> 0:02:54.680 say without laughing. Sulzbgger insisted that the disinformation is the 0:02:54.760 --> 0:03:00.240 reason why there's a loss of trust today. He ignored wars, 0:03:00.280 --> 0:03:02.680 his own history and eroding that trust in the media 0:03:03.000 --> 0:03:06.560 through flagrantly biased decisions in the New York Times. So 0:03:07.120 --> 0:03:09.519 never mind that I lied to you over and over, 0:03:09.560 --> 0:03:11.800 and never mind that people found out I was lying 0:03:11.800 --> 0:03:13.760 to and so you don't trust them anymore. That's not 0:03:13.800 --> 0:03:18.080 the reason why. The reason why there's a loss of 0:03:18.120 --> 0:03:22.640 trust today is because of disinformation. And if you believe that, 0:03:23.960 --> 0:03:25.720 then maybe I have a bridge to sell you. Look, 0:03:27.680 --> 0:03:32.359 we know that humans naturally gravitate towards freedom and truth, right. 0:03:32.680 --> 0:03:35.440 We know that the truth find is always found out. 0:03:35.440 --> 0:03:38.160 We know that the truth will set you free. Humans 0:03:38.160 --> 0:03:40.040 are smart enough to know the truth. The truth it 0:03:40.120 --> 0:03:43.960 must be found through open, honest discussion and dialogue. The 0:03:43.960 --> 0:03:48.120 truth is found through transparency. But they're saying the reason 0:03:48.160 --> 0:03:51.440 why there's no trust is because of disinformation. No no, 0:03:51.440 --> 0:03:54.080 no no. The reason why there's no trust is because 0:03:54.360 --> 0:03:57.160 of constant lies. The reason why there's no trust is 0:03:57.200 --> 0:04:03.600 because there's no transparency. Um. The panel that they added 0:04:03.680 --> 0:04:08.760 was titled a Clear and Present Danger of Disinformation, which 0:04:08.760 --> 0:04:12.440 is pretty interesting. UM on the European Commissioner Vera Jover 0:04:12.880 --> 0:04:17.120 was on there and she was talking about how, UM, 0:04:17.160 --> 0:04:19.920 in the United States there was going to be new 0:04:20.040 --> 0:04:24.680 laws based off of disinformation. Now, I don't know how 0:04:25.000 --> 0:04:30.560 a politician from Europe has any say over what would 0:04:30.640 --> 0:04:33.599 happen inside of the United States, but yet here we 0:04:33.640 --> 0:04:38.719 are they want to say that disinformation and the broader 0:04:38.839 --> 0:04:44.800 set of misinformation of conspiracy, propaganda and clickbait, the mix 0:04:44.839 --> 0:04:48.640 of bad information is corrupting information ecosystem and what it 0:04:48.680 --> 0:04:56.200 attacks is trust. The problem is is, uh, what is misinformation? 0:04:56.320 --> 0:05:00.240 What is disinformation? And how and who verified is that? 0:05:01.200 --> 0:05:04.440 Now there's some things that are factual, sure, right M 0:05:04.600 --> 0:05:07.200 two plus two is four, although in schools they want 0:05:07.200 --> 0:05:09.560 to tell you two plus two is five. So what 0:05:09.800 --> 0:05:12.080 is fact anymore? But there are things that are fact. 0:05:12.200 --> 0:05:13.960 A lot of things are just information. A lot of 0:05:13.960 --> 0:05:20.279 things our opinion. What is hate speech? People saying mean things? 0:05:21.520 --> 0:05:26.080 What if my daughter hates chocolate ice cream and I 0:05:26.120 --> 0:05:28.600 talked about chocolate ice cream, but she hates chocolate ice cream. 0:05:28.640 --> 0:05:32.039 Is that hates speech? I know that's a little bit silly, 0:05:32.080 --> 0:05:35.720 But where does that line get drawn? Who draws that stance? Well, 0:05:35.760 --> 0:05:38.480 apparently they want to draw that line. One of the 0:05:38.520 --> 0:05:42.520 most one of the biggest proponents of cracking down on 0:05:42.600 --> 0:05:47.680 disinformation was New Zealand Prime Minister Ardine. You send to Ardin. 0:05:48.240 --> 0:05:49.640 A couple of months ago, she went to the u 0:05:49.760 --> 0:05:52.440 N calling for She made this whole presentation to the 0:05:52.520 --> 0:05:55.960 inn of why the entire world needs to crack down 0:05:56.720 --> 0:06:00.760 on disinformation and how we need to put in um 0:06:00.839 --> 0:06:02.720 we need to take away the ability for people to 0:06:02.800 --> 0:06:06.080 use the web anonymously and we need this global cooperation 0:06:06.200 --> 0:06:10.400 to stop this problem. Interesting enough, at the same time 0:06:10.400 --> 0:06:13.279 as the WF is having this meeting calling for more 0:06:13.320 --> 0:06:17.840 of this, she all of a sudden, unexpectedly announces her resignation. 0:06:18.160 --> 0:06:20.839 I'll clap for that. We'll go ahead and clap for that. 0:06:21.200 --> 0:06:24.320 She is one of the best known and longest spaces 0:06:25.040 --> 0:06:28.400 for globalism, especially when it comes to totalitarian governments. I 0:06:28.400 --> 0:06:30.640 think she was trying to win the award of being 0:06:30.720 --> 0:06:35.080 the most like Hitler, probably through pandemic. There's been a 0:06:35.120 --> 0:06:38.640 bunch of of of articles. I've seen them come out 0:06:38.680 --> 0:06:41.279 where they've shown pictures of her, like the day that 0:06:41.400 --> 0:06:43.839 she was selected in the office, and what she looks 0:06:43.880 --> 0:06:46.200 like now. It looks like she's aged like twenty years. 0:06:47.240 --> 0:06:50.200 Is it because of the guilt that she feels. Is 0:06:50.200 --> 0:06:53.960 it because of the evil is wearing her out? Has 0:06:54.000 --> 0:06:56.520 it been too much on her? Is that why she's 0:06:56.520 --> 0:06:59.520 stepping down. We don't know. I find it interesting. I 0:06:59.560 --> 0:07:01.560 find it encouraging at the same time, you know what 0:07:01.720 --> 0:07:05.200 I like to look at um, I'd like to look 0:07:05.240 --> 0:07:09.000 at the cause and effect here. Right, Each force has 0:07:09.040 --> 0:07:12.480 an equal opposite reaction. So the more governments tend to squeeze, 0:07:12.480 --> 0:07:14.640 the more people tend to push back, and the more 0:07:14.640 --> 0:07:16.600 they push back is the more the governments have to squeeze, 0:07:16.600 --> 0:07:18.080 And the more that squeeze, the more people push back 0:07:18.720 --> 0:07:21.760 and so it's apparently been too much for her. She's 0:07:21.760 --> 0:07:25.400 decided to step down. Is that a good thing? I 0:07:25.440 --> 0:07:27.720 guess we'll find out when the next person gets elected. 0:07:27.720 --> 0:07:31.760 We'll see, we'll see who's next after that. I also 0:07:31.760 --> 0:07:34.920 saw this article from the West that says that um 0:07:35.200 --> 0:07:40.800 NGOs non government organizations quote must hit back against right 0:07:40.800 --> 0:07:44.400 wing groups that we can public trust in them. Don't 0:07:44.480 --> 0:07:48.000 take it, they say, don't take it. So a world 0:07:48.000 --> 0:07:50.120 like on my foreign panelists said that in geos, non 0:07:50.120 --> 0:07:54.440 government organizations must hit back against right wing groups that 0:07:54.520 --> 0:07:58.720 we can public trust in them. I think they do 0:07:58.880 --> 0:08:00.520 that on their own. I don't think they need any 0:08:00.600 --> 0:08:03.920 right wing groups to uh two we can trust in them. 0:08:03.960 --> 0:08:06.680 They do that on their own by being caught lying, 0:08:07.400 --> 0:08:11.080 by trying to force policies that people don't want, by 0:08:11.240 --> 0:08:14.800 hiding transparency. I think they do that on their own. 0:08:16.280 --> 0:08:19.120 Richard Edelman, he's the CEO of global communications firm Edelman. 0:08:19.480 --> 0:08:21.760 He spoke Tuesday at the VENT Davos, Switzerland during a 0:08:21.800 --> 0:08:26.080 panel about disrupting trust, and he said that the recent 0:08:26.200 --> 0:08:31.200 sadness he's endured has been the deterioration of trust. Oh 0:08:31.400 --> 0:08:35.000 boo hoo. My hypothesis on that is right wing groups 0:08:35.120 --> 0:08:38.320 have done a really good job of disenfranchiseing NGOs. He said, 0:08:39.240 --> 0:08:42.400 they're challenging the funding sources they've associated with Bill Gates 0:08:42.480 --> 0:08:45.960 and George Soros. They said that your world people as 0:08:45.960 --> 0:08:48.760 opposed to actually what you are, which is local. So 0:08:49.000 --> 0:08:52.680 they've challenged the funding sources Bill Gates and George Soros. Yes, 0:08:52.880 --> 0:08:55.280 we have. We've looked at George Soros. We've looked at 0:08:55.320 --> 0:08:57.920 Bill Gates, and we've looked at their funding sources. Not 0:08:57.920 --> 0:08:59.760 the funding sources, but what they've done with their money. 0:09:00.480 --> 0:09:02.640 You don't want to be associated with those people, then 0:09:02.640 --> 0:09:04.839 you shouldn't be associate with those people. If you're just 0:09:04.880 --> 0:09:06.600 tuning and you're listening to the Markma Show, we're talking 0:09:06.600 --> 0:09:09.720 about the decentralized Revolution. We're running through the latest news 0:09:09.720 --> 0:09:12.360 headlines of the week, talking about the play by play 0:09:12.360 --> 0:09:14.680 of how the world is being reshaped. I got more 0:09:14.679 --> 0:09:16.600 headlines coming up when I come back. We're gonna be 0:09:16.600 --> 0:09:20.959 talking about more things happening in the cryptocurrency space, specifically 0:09:20.960 --> 0:09:24.040 in the financial sector, UM and fence and charges that 0:09:24.080 --> 0:09:27.920 are happening there. I got some stuff happening in the 0:09:27.960 --> 0:09:29.680 tech side of things, a lot of stuff that you 0:09:29.679 --> 0:09:31.720 needn't know about. We'll be back with that in a minute. 0:09:32.240 --> 0:09:33.760 All right, welcome back. If you just tune in, you're 0:09:33.760 --> 0:09:35.839 listening to the Mark Moa show. We're talking about, of course, 0:09:35.880 --> 0:09:39.800 the decentralized revolution. We're talking about the latest news headlines 0:09:39.840 --> 0:09:42.760 that have been going through the ecosystem this week that 0:09:42.880 --> 0:09:45.840 show us where we're going, what track we're on. You know, 0:09:45.920 --> 0:09:48.160 I saw some big news this week that I thought 0:09:48.240 --> 0:09:51.560 was pretty pretty big. It was a regarding the bitcoin 0:09:51.679 --> 0:09:55.760 cryptocurrency space overall, and a report came out of research 0:09:55.840 --> 0:09:59.280 paper UM at the Digital Assets firm, and they say, 0:09:59.360 --> 0:10:05.160 how UM circle and unit swap can solve a two 0:10:05.320 --> 0:10:09.959 trillion dollar effects risk problem. What are they talking about? Circle, 0:10:10.120 --> 0:10:13.079 as you may know, is a US dollar back stable coin. 0:10:13.800 --> 0:10:17.920 Unit swap is a decentralized exchange. So how does circle 0:10:18.360 --> 0:10:21.800 and unit swap solve a two trillion dollar risk problem? 0:10:22.080 --> 0:10:24.079 Was a big deal a lot of people. You're gonna 0:10:24.080 --> 0:10:26.719 hear people all over not you, of course, but you're 0:10:26.720 --> 0:10:29.360 gonna hear other people tell you that what does bitcoin? 0:10:29.559 --> 0:10:31.920 You know, what what use case does bitcoin have? What 0:10:32.040 --> 0:10:35.680 do we need cryptocurrency for all of those things? But 0:10:35.880 --> 0:10:37.600 here we can see that it can solve a two 0:10:37.640 --> 0:10:39.880 trillion dollar problem. It's a pretty big problem. How big 0:10:39.880 --> 0:10:42.800 of a problem does your business solve? Probably not two trillion. 0:10:43.240 --> 0:10:45.760 So what am I talking about here, Well, every day 0:10:45.800 --> 0:10:50.240 about two point two trillion dollars in foreign exchange FEX 0:10:50.320 --> 0:10:55.239 foreign exchange transactions happen, and those foreign transactions FicT transactions 0:10:55.280 --> 0:10:58.000 carry a risk that they yet to be settled side 0:10:58.000 --> 0:11:01.679 of the agreement won't meet its upgation. So every single 0:11:01.800 --> 0:11:05.280 time that transaction is made, there's a risk that the 0:11:05.320 --> 0:11:08.280 other side won't settle their transaction. But there's research paper 0:11:08.320 --> 0:11:11.760 that came out from Circle talking about Circle and unit swap, 0:11:11.840 --> 0:11:15.120 finds that a distributed ledger could solve that problem with 0:11:15.200 --> 0:11:19.560 simultaneous settlement. To see, bitcoin is trust lists. When you 0:11:19.600 --> 0:11:22.720 deal with bitcoin, you don't have to trust another third party. 0:11:23.000 --> 0:11:26.400 You can have instantaneous settlement, and that's exactly what they're 0:11:26.400 --> 0:11:30.800 talking about. And so using a combination of bitcoin and 0:11:30.880 --> 0:11:35.240 a stable coin and a decentralized exchange, we could send 0:11:35.360 --> 0:11:40.600 money through these FX markets instantly for free, nearly free, 0:11:40.679 --> 0:11:45.520 and without a counterparty, no counterparty risk, without the risk 0:11:45.920 --> 0:11:49.599 of the other side not meeting their obligation. As a 0:11:49.640 --> 0:11:54.040 matter of fact, we can see that there's um thirty 0:11:54.080 --> 0:11:59.120 billion dollars a year of cross border remittances happening. So 0:11:59.640 --> 0:12:02.920 people from Central America move up to the United States, 0:12:02.920 --> 0:12:05.679 they get a job, they send money back home. They 0:12:05.720 --> 0:12:08.600 send money all over the world back to their people 0:12:08.640 --> 0:12:10.280 at home, their family at home where they don't have 0:12:10.400 --> 0:12:13.800 enough money. Thirty billion dollars a year in cross border remittances. Now, 0:12:13.800 --> 0:12:15.440 maybe you don't know how this works, so let me 0:12:15.520 --> 0:12:18.959 let me fill you in. If I have family member 0:12:19.160 --> 0:12:21.840 in somewhere in another part of the world, for example, 0:12:21.960 --> 0:12:24.160 now depends on where they're in the world. For example, 0:12:24.160 --> 0:12:26.760 if they're in Afghanistan, I may not have to send 0:12:26.760 --> 0:12:29.200 them money because the Taliban might intercept it before they 0:12:29.200 --> 0:12:30.839 even get it. So that's a problem if I send 0:12:30.840 --> 0:12:33.239 it through the normal banking system or money remitted system. 0:12:33.320 --> 0:12:36.360 If they're in let's say El Salvador, for example, I 0:12:36.400 --> 0:12:38.280 would have to get in the car and drive to 0:12:38.320 --> 0:12:40.800 my bank and stand in line and pull out cash. 0:12:40.960 --> 0:12:43.120 I could take thirty forty minutes easy. Then I have 0:12:43.160 --> 0:12:45.160 to drive to the grocery store of Walmart standard line 0:12:45.160 --> 0:12:47.800 at Western Union, fill out the forms to send the 0:12:47.840 --> 0:12:50.320 money that's another thirty minutes. Let say it's a round trip, 0:12:50.360 --> 0:12:52.319 it takes me an hour and a half and that's 0:12:52.320 --> 0:12:55.360 a lot of hassle. Then um, in Al Salvador, they 0:12:55.360 --> 0:12:57.360 need to go to the Western Union or whatever to 0:12:57.400 --> 0:12:59.920 get the money. So now they got to hop on 0:13:00.080 --> 0:13:03.080 bus and they got to go to three four hours 0:13:03.080 --> 0:13:05.840 on a bus to the nearest town where they have 0:13:06.240 --> 0:13:08.560 a Western Union of money for men's office, and then 0:13:08.600 --> 0:13:10.400 they have to get to cash, and then they have 0:13:10.440 --> 0:13:11.800 to get back on the bus and ride three or 0:13:11.840 --> 0:13:15.240 four hours back with cash with a good chance they 0:13:15.240 --> 0:13:19.080 get robbed, with an entire day out of their out 0:13:19.120 --> 0:13:21.160 of their way. So here we have hours on my 0:13:21.360 --> 0:13:24.760 end um a day on their end, the risk of 0:13:24.760 --> 0:13:29.280 getting robbed, and on top of that potentially fees that 0:13:29.360 --> 0:13:31.040 they have to pay. And it sounds like a very 0:13:31.040 --> 0:13:36.480 good system, doesn't. Using bitcoin stable coins, we could just 0:13:36.520 --> 0:13:40.920 transfer them that instantly and for basically free, And I 0:13:40.960 --> 0:13:43.000 could do it from my bed, in my underwear. I 0:13:43.040 --> 0:13:45.200 wouldn't have to go anywhere, I wouldn't have to stand 0:13:45.240 --> 0:13:47.560 in line, it wouldn't cost me any money. The receiving 0:13:47.640 --> 0:13:49.880 end could receive that money immediately without having to ride 0:13:49.880 --> 0:13:51.520 a bus without having to get risk of being stolen, 0:13:51.480 --> 0:13:54.240 without having to give up. Now that's a noo savot. 0:13:54.320 --> 0:13:56.880 Or again, back in Afghanistan, they can't even get it 0:13:56.880 --> 0:13:59.319 at all because most likely Taliban will steal that money 0:13:59.360 --> 0:14:02.520 before they even get it. But using bitcoin or stable coin, 0:14:02.600 --> 0:14:05.400 I could transfer them the money directly, directly to them 0:14:05.400 --> 0:14:08.959 without anybody able to transit or transact or I'm sorry 0:14:09.000 --> 0:14:12.280 to intercept that transaction. This is a big deal and 0:14:12.320 --> 0:14:16.040 this is exactly what this research paper is saying. That's 0:14:16.040 --> 0:14:19.240 a two trillion dollar problem. Now, look, I say it 0:14:19.280 --> 0:14:21.680 all the time. We get paid for the value we provide. 0:14:22.320 --> 0:14:25.760 So if you can solve a bigger problem that affects 0:14:25.840 --> 0:14:29.000 more people, you get more money for it. If you 0:14:29.040 --> 0:14:32.520 can solve a two trillion dollar problem that affects a 0:14:32.560 --> 0:14:36.720 big majority of the world, that's a very valuable solution. 0:14:37.440 --> 0:14:40.760 But but why does bitcoin have any value? What purpose 0:14:40.800 --> 0:14:43.600 does bitcoin have? What utility doesn't have? I don't even 0:14:43.640 --> 0:14:46.680 know why we need it. You may not. You may not. 0:14:47.320 --> 0:14:50.200 To the four billion people living under harsh authority and 0:14:50.240 --> 0:14:52.160 regimes that have money trying to be sent to them 0:14:52.200 --> 0:14:56.280 on a regular basis, they understand, they care and there's value. 0:14:56.480 --> 0:14:58.200 It's a pretty big deal. It's a good, good paper 0:14:58.240 --> 0:15:01.040 that just came out. But while all we have positive 0:15:01.080 --> 0:15:03.640 progress on one side, we have negative progress on the other. 0:15:03.680 --> 0:15:06.080 We saw the Justice Department, the Department of just in 0:15:06.080 --> 0:15:08.640 the United States. They made an announcement of an announcement 0:15:08.640 --> 0:15:10.720 that came out this week and said we're going to 0:15:10.760 --> 0:15:13.320 have a big announcement. It's always so stupid when people 0:15:13.320 --> 0:15:16.120 make an announcement of announcement. Last they did UM. Finally 0:15:16.120 --> 0:15:19.239 we had announcement came out and it was major international 0:15:19.280 --> 0:15:24.360 crypto enforcement action. The Department held a press conference basically 0:15:24.400 --> 0:15:28.440 saying that there was a major international cryptocurrency enforcement action 0:15:28.600 --> 0:15:33.440 happening UM and they were cracking down on a crypto 0:15:33.480 --> 0:15:39.119 exchange called bit bits latto because they laundered apparently allegedly 0:15:39.520 --> 0:15:44.560 laundered seven hundred million dollars seven million dollars of laundering 0:15:45.160 --> 0:15:49.800 and they potentially allegedly had ties to elicit Russian finance. 0:15:50.680 --> 0:15:53.920 So the Department of Justice made this big deal Global 0:15:54.360 --> 0:15:58.000 Cooperation announcement of announcement, held a big press conference. They 0:15:58.040 --> 0:16:01.960 went in and they arrested the founder of bits Lato, 0:16:02.280 --> 0:16:04.560 um Cufftam made a big spectacle of it, hauled him 0:16:04.600 --> 0:16:07.160 in arrest of them made this big press release because 0:16:07.200 --> 0:16:13.080 allegedly they laundered about seven million dollars allegedly for some Russians, 0:16:13.120 --> 0:16:18.080 allegedly we'll see, but this was this was being prosecuted 0:16:18.120 --> 0:16:22.720 by the Treasuries Financial Crimes Enforcement Network. Finnsin and I 0:16:22.720 --> 0:16:25.280 want to bring this into light because there was something 0:16:25.320 --> 0:16:29.080 known as the fencin files that were released. I've talked 0:16:29.080 --> 0:16:31.360 about it before on the show. And so there was 0:16:31.400 --> 0:16:35.000 this massive reporting project, sweeping revelations about some of the 0:16:35.120 --> 0:16:37.960 roles some of the biggest banks in the world using 0:16:37.960 --> 0:16:41.480 to facilitating international money laundering. This there was four hund 0:16:41.600 --> 0:16:44.040 journalists that that participate in this research, eight eight countries. 0:16:44.080 --> 0:16:46.440 They were nominated for a Pulitzer Prise. This is like 0:16:46.480 --> 0:16:50.560 the Legit deal. Five global banks JP, Mortgage Chase, HSBC, 0:16:50.760 --> 0:16:53.400 Standard Chartered Bank, Deutsche Bank and Bank of New York 0:16:53.400 --> 0:16:58.160 Mellon profited continue to profit from suspect transactions even after 0:16:58.240 --> 0:17:01.920 they paid fines to the u S. They used the 0:17:02.040 --> 0:17:04.840 laws that were intended to stop them, but instead it 0:17:04.880 --> 0:17:08.480 allowed them to flourish. We can see that the banks 0:17:08.840 --> 0:17:14.320 moved over to trillion dollars two trillion dollars they laundered 0:17:14.680 --> 0:17:17.960 UM in transactions UM and that were flagged by financial 0:17:18.160 --> 0:17:22.280 institutions That included five fourteen billion at JP Morgan and 0:17:22.359 --> 0:17:25.880 a hundred and one point three trillion at Deutsche Bank. 0:17:26.040 --> 0:17:31.560 They laundered for legal operations with known Russians two trillion? 0:17:32.240 --> 0:17:36.440 And who was handcuffed, who was marched out? What press released? 0:17:36.520 --> 0:17:40.360 Was there? Two trillions? Okay, but seven hundred million. We're 0:17:40.359 --> 0:17:42.600 gonna make a big deal about it. I bring that 0:17:42.640 --> 0:17:44.600 to your attention, and you can tell um. You can 0:17:44.600 --> 0:17:46.280 tell who the States trying to protect by how they 0:17:46.359 --> 0:17:49.480 prosecute crimes as the crime against the people at the 0:17:49.480 --> 0:17:52.720 crime against themselves. I'll let you be the decider of that. 0:17:52.800 --> 0:17:54.400 If you're just tuning in and listening to the Markma Show, 0:17:54.400 --> 0:17:57.320 we're talking about the Decentralized Revolution. I'm going through some 0:17:57.359 --> 0:17:59.200 of the latest breaking news headlines of the week. I 0:17:59.240 --> 0:18:00.880 got more to cover one. I come back in a minute. 0:18:00.880 --> 0:18:02.480 You don't want to miss what I have, so don't 0:18:02.520 --> 0:18:04.760 go away. All right, Welcome back. If you're just tuning in, 0:18:04.760 --> 0:18:06.879 you're listening to the Markma Show, we're talking about the 0:18:06.920 --> 0:18:11.080 Decentralized Revolution, talking about the way the world is changing 0:18:11.160 --> 0:18:13.639 right before our very eyes. And of course it's changing fast, 0:18:13.680 --> 0:18:16.280 and we're looking at through lends of politics, finance, and technology, 0:18:16.280 --> 0:18:18.480 and we're looking at some of the latest breaking news 0:18:18.520 --> 0:18:21.400 this week so we can see how the world is changing. 0:18:21.760 --> 0:18:23.560 And like I said, it's changing fast. Some of the 0:18:23.600 --> 0:18:25.240 news that I saw this week that really caught my 0:18:25.240 --> 0:18:28.640 eye is in the money system itself, and really we're 0:18:28.640 --> 0:18:32.240 looking at money, finance, and of course technology and and 0:18:32.320 --> 0:18:36.720 bitcoin and cryptocurrencies is something that's really reshaping the world. 0:18:36.760 --> 0:18:39.760 I saw this week that Russia is working with Iran 0:18:39.960 --> 0:18:43.439 on creating a gold backed stable coin. So we have 0:18:43.480 --> 0:18:46.840 stable coins that are typically pegged or backed by dollars. 0:18:46.840 --> 0:18:51.120 So um certain companies like Circle for example, Tether for example, 0:18:51.359 --> 0:18:54.560 I give them a dollar, they give me back token 0:18:54.720 --> 0:18:57.520 that represents a dollar. Any given time, I could give 0:18:57.600 --> 0:18:59.840 them back the token and they give me back my dollar. 0:19:00.119 --> 0:19:02.640 That's how the dollar and the goals were supposed to work. 0:19:03.240 --> 0:19:05.560 I put my gold into a bank, at the bank 0:19:05.600 --> 0:19:09.240 gave me a token, a certificate back, and then whenever 0:19:09.280 --> 0:19:10.720 I want to give that certificate back, I get my 0:19:10.760 --> 0:19:13.720 gold back. That's not how it works anymore. But they're 0:19:13.760 --> 0:19:16.240 trying to return back to that type of a system 0:19:16.280 --> 0:19:18.480 where I give them gold, they give me a token. 0:19:18.560 --> 0:19:20.760 I could use that token wherever I want, and in 0:19:20.840 --> 0:19:24.560 they given time, I could redeem that token back for gold. Now, 0:19:24.600 --> 0:19:27.919 the reason why it's important is because Russia and Iran 0:19:28.160 --> 0:19:31.520 are starting to be some major players in the world, 0:19:31.640 --> 0:19:34.680 especially when it comes to energy. Lots of countries in 0:19:34.680 --> 0:19:37.760 the world want their energy, and so by providing this 0:19:37.920 --> 0:19:41.240 gold back token, they could really help facilitate global trade 0:19:41.240 --> 0:19:43.920 a lot faster. He says. The token will be used 0:19:44.000 --> 0:19:47.000 as a means of payment in foreign trade settlements instead 0:19:47.000 --> 0:19:50.480 of the dollar, because of course Russia can't use the dollar. 0:19:51.040 --> 0:19:54.760 Russia has been sanctioned, I Ran has been sanctioned. So 0:19:54.800 --> 0:19:57.480 all these nations are sanctioned. But they're not just gonna die. 0:19:57.600 --> 0:19:59.439 They're going to continue to do trade. They just have 0:19:59.520 --> 0:20:01.280 to do it in some other than the dollar. And 0:20:01.359 --> 0:20:03.520 so here they have something they've created on their own, 0:20:03.560 --> 0:20:08.119 a gold backed token. It says that the Russian ruble 0:20:08.240 --> 0:20:12.159 or the Iranian real um could be settled with that 0:20:12.320 --> 0:20:15.679 instead of the dollar. Now, this is part of the 0:20:15.760 --> 0:20:20.040 Russian Cryptocurrency Blockchain Association that's that's trying to push this through, 0:20:20.359 --> 0:20:22.720 and we've seen other gold stable coins already before. This 0:20:22.760 --> 0:20:25.439 isn't something new. Paxso's Gold has one. It's the largest 0:20:25.440 --> 0:20:28.399 backed stable coin on the market with five and twelve 0:20:28.400 --> 0:20:32.840 million market capitalization, Tether which is the largest stable coin um. 0:20:32.840 --> 0:20:35.320 They also have what's called Tether gold. It's the first 0:20:35.320 --> 0:20:37.280 goal back stable coin, and they have a market cap 0:20:37.320 --> 0:20:39.760 of four seventy one millions. We have almost about a 0:20:39.800 --> 0:20:43.200 billion dollars in gold back stable coins just with those 0:20:43.240 --> 0:20:50.120 two alone right there. While this seems okay, it seems 0:20:50.240 --> 0:20:53.320 kind of cool if you're a gold guy, I kind 0:20:53.359 --> 0:20:55.840 of get why you would kind of like it, the 0:20:55.880 --> 0:20:59.240 reality is it's still a big problem. In my opinion, 0:21:00.280 --> 0:21:03.679 going back to a gold standard, like a sound money supply, 0:21:03.880 --> 0:21:07.800 sounds good. The problem is is that who holds the 0:21:07.840 --> 0:21:11.720 gold That's the problem. So, um, we're gonna have a 0:21:11.760 --> 0:21:13.840 gold back stable coin. I'm gonna give you a dollar, 0:21:13.840 --> 0:21:15.480 I'm gonna give you goals. Is gonna be back token, 0:21:15.480 --> 0:21:17.280 and you should be able to giving back my gold 0:21:17.280 --> 0:21:19.960 when I want it. But who holds the goal How 0:21:20.000 --> 0:21:21.960 do I know if they really have it? How do 0:21:22.040 --> 0:21:24.119 I know it's not faith gold? How do I know 0:21:24.240 --> 0:21:27.600 that they'll give it to me if I ask for it. Now, 0:21:27.640 --> 0:21:30.879 we all not we I wasn't alive. Americans trusted that 0:21:30.920 --> 0:21:34.359 the US government and the US banking system would hold 0:21:34.400 --> 0:21:36.920 their goal and not lie about how much gold they had, 0:21:36.960 --> 0:21:38.760 and would give them their gold back when they wanted. 0:21:39.400 --> 0:21:41.480 But in the three they found out the hard way 0:21:41.560 --> 0:21:45.720 that wasn't the case. Under Executive Order two, they seized 0:21:45.760 --> 0:21:47.680 all the gold. They made it illegal for you to 0:21:47.720 --> 0:21:52.399 own gold. Why. The reason why is because they lied 0:21:52.480 --> 0:21:55.040 about how much gold they had. They printed way too 0:21:55.080 --> 0:21:58.800 many of these paper gold certificates and they needed the gold, 0:21:58.840 --> 0:22:01.520 so they had to steal everybody's so we can go 0:22:01.560 --> 0:22:04.680 to another system like that where we have another goldback 0:22:04.880 --> 0:22:06.920