1 00:00:00,080 --> 00:00:02,600 Speaker 1: Welcome to another episode of the Mark Moas Show, where 2 00:00:02,640 --> 00:00:05,520 Speaker 1: we talk about bitcoin, we talk about cryptocurrencies, we talk 3 00:00:05,600 --> 00:00:10,240 Speaker 1: about the decentralized revolution, and we're trying to make sense 4 00:00:10,280 --> 00:00:14,080 Speaker 1: of this out of control world as these central bankers 5 00:00:14,080 --> 00:00:17,720 Speaker 1: continue to destroy um any and all relationship to money, 6 00:00:18,000 --> 00:00:22,040 Speaker 1: and we're basically narrating the path of destruction that is 7 00:00:22,120 --> 00:00:23,520 Speaker 1: left in their way. We've got a lot of stuff 8 00:00:23,520 --> 00:00:26,320 Speaker 1: to cover today. Um as we look at the decentralized 9 00:00:26,360 --> 00:00:28,560 Speaker 1: revolution that's happening in the world. Of course, that's why 10 00:00:28,600 --> 00:00:31,280 Speaker 1: the world is so crazy, and we really try to 11 00:00:31,320 --> 00:00:33,720 Speaker 1: look at it from the lens of three perspectives, and 12 00:00:33,720 --> 00:00:38,519 Speaker 1: that's uh, politics, finance, and technology. Of course, bitcoin is 13 00:00:38,600 --> 00:00:41,239 Speaker 1: leading that charge with a decentralized revolution. And if you 14 00:00:41,360 --> 00:00:44,120 Speaker 1: understand the politics, finance, and technology and how the three 15 00:00:44,159 --> 00:00:46,720 Speaker 1: of those things come together, it helps us understand where 16 00:00:46,720 --> 00:00:49,599 Speaker 1: we're at today and of course more importantly, where we 17 00:00:49,680 --> 00:00:52,760 Speaker 1: are going. That's what everyone's trying to figure out, Uh, 18 00:00:53,280 --> 00:00:58,040 Speaker 1: myself included. We're at a very uncertain time the world. 19 00:00:58,160 --> 00:01:01,760 Speaker 1: Probably it seems to be more uncertain than any time 20 00:01:02,360 --> 00:01:05,600 Speaker 1: in history at least that I can think of. Now. 21 00:01:05,760 --> 00:01:09,160 Speaker 1: The way that we beat uncertainty is with optionality. So 22 00:01:09,240 --> 00:01:11,240 Speaker 1: the more options we have, the more prepared we are 23 00:01:11,280 --> 00:01:14,039 Speaker 1: for whatever may come. That makes sense, obviously, And one 24 00:01:14,040 --> 00:01:16,680 Speaker 1: of the best ways that we get that optionality is 25 00:01:16,800 --> 00:01:21,119 Speaker 1: with money. Money helps us have that optionality. So um, 26 00:01:21,120 --> 00:01:22,479 Speaker 1: that's one of the reasons why I like to focus 27 00:01:22,480 --> 00:01:24,240 Speaker 1: on it, so I can make sure that I'm I 28 00:01:24,319 --> 00:01:27,119 Speaker 1: have options to protect myself, my family, and so much more. 29 00:01:27,360 --> 00:01:29,600 Speaker 1: And if you tune in each and every week with me, 30 00:01:29,959 --> 00:01:31,920 Speaker 1: I'll make sure that you are up to date and 31 00:01:32,000 --> 00:01:35,639 Speaker 1: equipped to handle the uncertainty that is facing us that's ahead. 32 00:01:35,640 --> 00:01:38,640 Speaker 1: So if you haven't already, make sure to put a 33 00:01:38,680 --> 00:01:41,039 Speaker 1: calendar on your phone to join me each and every 34 00:01:41,080 --> 00:01:43,880 Speaker 1: week on this same time, this same channel, so we 35 00:01:43,959 --> 00:01:46,920 Speaker 1: can keep you update on what is going on. Now. 36 00:01:46,920 --> 00:01:49,760 Speaker 1: There's a lot going on each and every week, so 37 00:01:49,800 --> 00:01:52,040 Speaker 1: I love to get together and kind of explain to 38 00:01:52,160 --> 00:01:55,640 Speaker 1: what I'm seeing and there's there's big news that happens, 39 00:01:55,680 --> 00:01:58,560 Speaker 1: although it seems to be the same stories kind of 40 00:01:58,600 --> 00:02:01,400 Speaker 1: continuing to roll over. For example, one of the things 41 00:02:01,400 --> 00:02:03,200 Speaker 1: I've been talking about for like the last you know, 42 00:02:03,360 --> 00:02:07,200 Speaker 1: eight months or so, is the big the big word, 43 00:02:07,240 --> 00:02:10,320 Speaker 1: the hottest word being used today, and that is inflation. 44 00:02:11,360 --> 00:02:13,400 Speaker 1: And of course we talk about inflation, but but the 45 00:02:13,440 --> 00:02:15,520 Speaker 1: way that we talk about it has changed a lot 46 00:02:15,600 --> 00:02:18,720 Speaker 1: over time. It went from a matter of fact, I 47 00:02:18,720 --> 00:02:21,760 Speaker 1: was just looking at this yesterday, the Fed was saying 48 00:02:21,800 --> 00:02:24,440 Speaker 1: they can't get enough inflation. They can't get it no 49 00:02:24,480 --> 00:02:27,640 Speaker 1: matter what they do. Twelves since two thousand twelve, they 50 00:02:27,680 --> 00:02:30,600 Speaker 1: haven't been able to get their inflation target of two percent. 51 00:02:31,280 --> 00:02:32,960 Speaker 1: And so if we were talking about inflation back then, 52 00:02:33,040 --> 00:02:34,920 Speaker 1: it was in a sense that they couldn't get the 53 00:02:34,960 --> 00:02:38,240 Speaker 1: inflation that they wanted. Now, Um, if any of you 54 00:02:38,320 --> 00:02:42,680 Speaker 1: are gold bugs or sound money advocates or bitcoin crypto advocates, 55 00:02:42,680 --> 00:02:46,040 Speaker 1: then you might be asking yourself, um, why is there 56 00:02:46,080 --> 00:02:49,079 Speaker 1: a target for inflation? Anyway, which is a pretty good 57 00:02:49,160 --> 00:02:53,400 Speaker 1: question to have. The Fed targets a two percent inflation, 58 00:02:53,480 --> 00:02:57,519 Speaker 1: which basically means their target is for you to lose 59 00:02:57,600 --> 00:03:01,960 Speaker 1: two percent of your wealth every single year. Now, why 60 00:03:02,000 --> 00:03:04,760 Speaker 1: would they have a target to steal two percent of 61 00:03:04,800 --> 00:03:06,880 Speaker 1: your wealth every year? That doesn't really sound like a 62 00:03:06,880 --> 00:03:10,400 Speaker 1: good target to me. Nevertheless, that is their target. And 63 00:03:10,440 --> 00:03:13,480 Speaker 1: so like I said, uh, there's some headlines saying we 64 00:03:13,600 --> 00:03:15,600 Speaker 1: can't get it, we can't get the inflation up into 65 00:03:16,480 --> 00:03:18,720 Speaker 1: we can't get the inflation that we want, and so 66 00:03:18,840 --> 00:03:22,480 Speaker 1: the FED said that we're gonna, quote, let it run hot. 67 00:03:22,840 --> 00:03:25,480 Speaker 1: What does that mean? That means that, uh, well, we 68 00:03:25,520 --> 00:03:28,240 Speaker 1: can't get to the two percent that we want. So 69 00:03:28,280 --> 00:03:30,359 Speaker 1: we're just gonna go in guns blazing and we're gonna 70 00:03:30,400 --> 00:03:32,839 Speaker 1: throw everything, everything in the kitchen sink against the wall. 71 00:03:32,880 --> 00:03:35,880 Speaker 1: See what sticks. And we're probably gonna way overshoot the 72 00:03:35,880 --> 00:03:39,360 Speaker 1: two percent number, um, because we have to do everything 73 00:03:39,400 --> 00:03:41,600 Speaker 1: that we can think of, and so we'll probably overstood 74 00:03:41,720 --> 00:03:43,360 Speaker 1: the two percent number. But that's fine. We're gonna let 75 00:03:43,360 --> 00:03:45,120 Speaker 1: it run hot. We're gonna go higher. We don't care, 76 00:03:45,200 --> 00:03:50,720 Speaker 1: three four whatever. And they started talking about a blended number. Well, 77 00:03:50,760 --> 00:03:53,240 Speaker 1: you know, since we've been below two percent for so long, 78 00:03:53,400 --> 00:03:55,839 Speaker 1: if we get above two percent, that's find it averages out. 79 00:03:55,920 --> 00:03:58,640 Speaker 1: And so that's what they did. They let it run 80 00:03:58,840 --> 00:04:02,160 Speaker 1: hot in their own words, And here we are hot. 81 00:04:02,240 --> 00:04:04,760 Speaker 1: We're at a high I haven't seen since the about 82 00:04:04,920 --> 00:04:07,960 Speaker 1: four decades ago, since the eighties, running eight point six 83 00:04:08,000 --> 00:04:10,440 Speaker 1: per cp I inflation, which is of course is a 84 00:04:10,440 --> 00:04:12,240 Speaker 1: manipulated number. I talked about that all the time. I'm 85 00:04:12,240 --> 00:04:15,920 Speaker 1: not going to dig into that but again, we're talking 86 00:04:15,920 --> 00:04:17,520 Speaker 1: a lot about inflation. Now, why do we talk about 87 00:04:17,520 --> 00:04:20,200 Speaker 1: inflation when we're talking about the decentralized revolution, we talked 88 00:04:20,200 --> 00:04:23,719 Speaker 1: about bitcoin of cryptocurrencies. Well, the big reason why is 89 00:04:23,760 --> 00:04:27,320 Speaker 1: because all of this, all of these problems that we have. 90 00:04:27,400 --> 00:04:29,400 Speaker 1: Are we going into recession? Are we going to see 91 00:04:29,440 --> 00:04:32,440 Speaker 1: stagflation where the markets crash, where the markets go back up? 92 00:04:32,920 --> 00:04:37,760 Speaker 1: All of that revolves around the central banks, the Federal 93 00:04:37,839 --> 00:04:43,840 Speaker 1: Reserve controlling the money. If they increase the money supply 94 00:04:44,040 --> 00:04:47,760 Speaker 1: by lower and interest rates, then we have boom times. 95 00:04:48,120 --> 00:04:51,120 Speaker 1: Things are great, businesses booming, your buying equipment, you're expanding 96 00:04:51,120 --> 00:04:53,679 Speaker 1: your business, you're buying bigger houses, you're getting new cars. 97 00:04:53,800 --> 00:04:56,479 Speaker 1: Everything's happy, everyone everyone's happy. Everything is good. And when 98 00:04:56,480 --> 00:05:01,520 Speaker 1: they decide to then restrict or decrease money supply, things 99 00:05:01,560 --> 00:05:04,320 Speaker 1: go very badly and everything crashes and you lose everything. 100 00:05:04,800 --> 00:05:07,360 Speaker 1: And so the reason why we're talking about this specifically 101 00:05:07,480 --> 00:05:12,039 Speaker 1: is more in the reason as to why why UM 102 00:05:12,160 --> 00:05:14,520 Speaker 1: is the finance system that we have completely corrupted to 103 00:05:14,560 --> 00:05:16,839 Speaker 1: the core, not just corrupted from the people that run it, 104 00:05:16,880 --> 00:05:19,880 Speaker 1: but it's inherently flawed the fact that anybody runs it. 105 00:05:20,480 --> 00:05:24,440 Speaker 1: UM Why and why A new system that nobody can 106 00:05:24,480 --> 00:05:28,719 Speaker 1: control would be such a better system. Now, a lot 107 00:05:28,760 --> 00:05:31,640 Speaker 1: of people don't understand this because they don't understand how 108 00:05:31,680 --> 00:05:35,280 Speaker 1: the financial system works. They don't understand how these problems 109 00:05:35,279 --> 00:05:39,400 Speaker 1: that the central bankers caused by arbitrarily changing the monetary 110 00:05:39,400 --> 00:05:42,160 Speaker 1: supply whenever they feel like it, UM, they don't understand 111 00:05:42,160 --> 00:05:44,760 Speaker 1: how that impacts them. And so a lot of times 112 00:05:44,800 --> 00:05:47,840 Speaker 1: when you present people with a better solution, how maybe 113 00:05:47,880 --> 00:05:50,000 Speaker 1: going back to a gold back currency might be a 114 00:05:50,000 --> 00:05:52,839 Speaker 1: better option, going something to like a decentralized ledger like 115 00:05:52,880 --> 00:05:55,159 Speaker 1: bitcoin that nobody can control, how that might be a 116 00:05:55,160 --> 00:05:58,440 Speaker 1: better option, they can't understand that because they don't understand 117 00:05:58,480 --> 00:06:01,880 Speaker 1: the problems that the existing system is causing in their 118 00:06:01,880 --> 00:06:03,080 Speaker 1: own lives. And so we spent a lot of time 119 00:06:03,120 --> 00:06:05,320 Speaker 1: talking about that, and so I want to dig through that. 120 00:06:05,520 --> 00:06:07,640 Speaker 1: We want to talk about what's going on with the 121 00:06:07,640 --> 00:06:10,200 Speaker 1: financial system with inflation. We're gonna talk about what the 122 00:06:10,240 --> 00:06:13,000 Speaker 1: central bank, what the Federal Reserve UM is saying. I 123 00:06:13,480 --> 00:06:15,280 Speaker 1: got some audio clips that I'm gonna play for you. 124 00:06:15,560 --> 00:06:18,320 Speaker 1: M Jerome Pale, head of the Faroer Reserve, was UM 125 00:06:18,360 --> 00:06:22,039 Speaker 1: testifying before Congress today. I pulled some clips for that. UM. 126 00:06:22,080 --> 00:06:25,159 Speaker 1: I want to go into somebody that we should be 127 00:06:25,200 --> 00:06:28,800 Speaker 1: listening to. UM. He is a former head of the 128 00:06:28,800 --> 00:06:32,760 Speaker 1: New York Federal Reserve, head of the FMOC Federal Open 129 00:06:32,760 --> 00:06:36,479 Speaker 1: Market Committee Board, UM previously with Goldman Sachs. I mean, 130 00:06:36,480 --> 00:06:38,760 Speaker 1: this guy is connected and that we should listen to 131 00:06:38,760 --> 00:06:40,440 Speaker 1: what he has to say. And I'm going to tell 132 00:06:40,440 --> 00:06:41,680 Speaker 1: you what he has to say because you should be 133 00:06:41,680 --> 00:06:44,080 Speaker 1: listening to it. We're gonna talk about some warnings that 134 00:06:44,200 --> 00:06:47,560 Speaker 1: Ray Dalio has been giving us. Now, Raydalio is one 135 00:06:47,600 --> 00:06:49,440 Speaker 1: of the one of the richest men in the world, 136 00:06:49,600 --> 00:06:51,680 Speaker 1: head of one of the head of the largest hedge 137 00:06:51,720 --> 00:06:55,000 Speaker 1: fund in the world, Bridgewater Capital, and when he talks, 138 00:06:55,560 --> 00:06:57,520 Speaker 1: people tend to listen. I tend to listen. So I'm 139 00:06:57,520 --> 00:07:00,120 Speaker 1: gonna talk about some things that he said. I had 140 00:07:00,160 --> 00:07:03,000 Speaker 1: some more clips that we're gonna play for you. UM. 141 00:07:03,040 --> 00:07:05,720 Speaker 1: And then we're gonna talk about the state of the 142 00:07:05,720 --> 00:07:08,359 Speaker 1: markets that we're in today. UM, what the Fed is, 143 00:07:09,200 --> 00:07:12,280 Speaker 1: canon can't do, what they will and won't do. UM, 144 00:07:12,360 --> 00:07:14,560 Speaker 1: talk about the danger in the liquid markets, talk about 145 00:07:14,560 --> 00:07:19,680 Speaker 1: how that affects the cryptocurrency markets and general markets overall, UM, 146 00:07:19,720 --> 00:07:21,480 Speaker 1: and so much more. Man I got a lot to cover. 147 00:07:21,480 --> 00:07:23,040 Speaker 1: Hopefully we can get through all that today. By the way, 148 00:07:23,040 --> 00:07:25,760 Speaker 1: you're listening to the Mark Masha, we're talking about the 149 00:07:25,920 --> 00:07:29,680 Speaker 1: decentralized revolution, talking about how the world is swinging. The 150 00:07:29,720 --> 00:07:32,760 Speaker 1: pendulum of the world is swinging from centralization to decentralization, 151 00:07:33,200 --> 00:07:35,480 Speaker 1: and that is leading to this world being so crazy. 152 00:07:35,520 --> 00:07:37,640 Speaker 1: Of course, is being led by bitcoin and the decentralized 153 00:07:37,680 --> 00:07:42,480 Speaker 1: technology boom that we have. So um, yeah, let's get 154 00:07:42,480 --> 00:07:45,120 Speaker 1: back to it. We're talking about inflation again for the 155 00:07:45,200 --> 00:07:47,560 Speaker 1: eighth month in a row, but talking about it in 156 00:07:47,680 --> 00:07:50,440 Speaker 1: a different light, in a different way. And so like 157 00:07:50,480 --> 00:07:54,960 Speaker 1: I said, first of all, um, the FED, the Federal Reserve, 158 00:07:55,000 --> 00:07:58,120 Speaker 1: the Central Bank, they're tasked with two main things. It's 159 00:07:58,120 --> 00:08:04,040 Speaker 1: called a dual mandate. So mandate number one is stable prices. 160 00:08:04,720 --> 00:08:09,360 Speaker 1: So like when gas doubled, that's not very stable. When 161 00:08:09,480 --> 00:08:13,400 Speaker 1: price of real estate doubled, that's not very stable. Um, 162 00:08:13,920 --> 00:08:15,480 Speaker 1: When every time you go to the grocery store to 163 00:08:15,480 --> 00:08:18,760 Speaker 1: buy milk and cheese and bread, um, and meat, your 164 00:08:19,000 --> 00:08:21,320 Speaker 1: bills are more expensive. Every time you go to fill 165 00:08:21,360 --> 00:08:23,360 Speaker 1: up your gas tank you get less gas in your car, 166 00:08:23,920 --> 00:08:27,120 Speaker 1: that's not what I would consider stable prices. So if 167 00:08:27,160 --> 00:08:29,240 Speaker 1: I had to give them a score of, you know, 168 00:08:30,080 --> 00:08:32,920 Speaker 1: like school. I'd probably give them an F a failing 169 00:08:32,960 --> 00:08:35,320 Speaker 1: grade on that because the prices are anything but stable. Now. 170 00:08:35,760 --> 00:08:37,079 Speaker 1: I guess if you want to look at it on 171 00:08:37,120 --> 00:08:40,240 Speaker 1: a sliding scale, it's a little bit more stable than Venezuela, 172 00:08:40,559 --> 00:08:43,000 Speaker 1: but that's a pretty low bar to meat. Um, we're 173 00:08:43,000 --> 00:08:44,800 Speaker 1: gonna talk about that. We're gonna talk about, Like I said, 174 00:08:44,800 --> 00:08:46,520 Speaker 1: I have these clips that I want to play directly 175 00:08:46,559 --> 00:08:48,840 Speaker 1: so you can hear directly from their mouth. Um, some 176 00:08:48,920 --> 00:08:50,280 Speaker 1: of the some of the questions they were asked from 177 00:08:50,280 --> 00:08:51,679 Speaker 1: the committee, and we're gonna look at some of the 178 00:08:51,679 --> 00:08:55,840 Speaker 1: FED insiders what they told us that's coming. I take 179 00:08:55,880 --> 00:08:57,920 Speaker 1: them at their word. I listened to what they say 180 00:08:57,960 --> 00:08:59,240 Speaker 1: and I prepare for it. And I'm gonna tell you 181 00:08:59,240 --> 00:09:01,600 Speaker 1: what they said, and you better be prepared. I'm gonna 182 00:09:01,600 --> 00:09:04,120 Speaker 1: listening to the Mark Moa show talking about the decentralized revolution, 183 00:09:04,160 --> 00:09:08,040 Speaker 1: talking about bitcoin, talking about politics, finance, and technology and 184 00:09:08,080 --> 00:09:12,000 Speaker 1: how the convergence of those three is changing the world 185 00:09:12,200 --> 00:09:15,320 Speaker 1: as we know it. And like I said, I got 186 00:09:15,360 --> 00:09:18,720 Speaker 1: a lot to cover today, including warnings from Radalio. UM, 187 00:09:18,760 --> 00:09:22,319 Speaker 1: including warnings from the traditional markets to the crypto markets. 188 00:09:23,240 --> 00:09:27,000 Speaker 1: And so much more. So good actuable information for you today. 189 00:09:27,080 --> 00:09:29,280 Speaker 1: I got a lot to cover when I come back 190 00:09:29,280 --> 00:09:31,880 Speaker 1: in a minute. And don't go away, all right, welcome back. 191 00:09:31,880 --> 00:09:34,720 Speaker 1: You are listening to the Mark Moa Show talking about bitcoin, 192 00:09:35,080 --> 00:09:40,360 Speaker 1: the decentralized revolution, and navigating the craziness of this out 193 00:09:40,360 --> 00:09:43,800 Speaker 1: of control world because of what these bankers have done. 194 00:09:44,040 --> 00:09:47,000 Speaker 1: Now we're talking about inflation again for the eighth month 195 00:09:47,040 --> 00:09:49,439 Speaker 1: in a row, because it's such a hot topic. We're 196 00:09:49,440 --> 00:09:52,400 Speaker 1: talking about the way that is changing over time. And 197 00:09:52,640 --> 00:09:55,040 Speaker 1: so I was talking about the narratives that we couldn't 198 00:09:55,040 --> 00:09:57,880 Speaker 1: get the inflation even in we couldn't get the inflation, 199 00:09:58,880 --> 00:10:00,520 Speaker 1: let's let it run hot. Let's see what we can do. 200 00:10:00,679 --> 00:10:02,800 Speaker 1: And here we are way too much inflation. And so 201 00:10:02,880 --> 00:10:05,280 Speaker 1: now they're like, oh, shoot, it's way too high. What 202 00:10:05,280 --> 00:10:07,560 Speaker 1: are we gonna do about it? And um, you know, 203 00:10:07,600 --> 00:10:09,920 Speaker 1: instead of operating with the precision of a surgeon with 204 00:10:09,960 --> 00:10:13,880 Speaker 1: a scalpel, they're operating with a hatchet. And so they 205 00:10:13,920 --> 00:10:17,080 Speaker 1: couldn't get to the two percent number they wanted, and 206 00:10:17,120 --> 00:10:19,240 Speaker 1: so they said, screw it, let's just throw everything against 207 00:10:19,280 --> 00:10:21,200 Speaker 1: the wall. Let's just let it run hot, right, and 208 00:10:21,240 --> 00:10:22,880 Speaker 1: they did. And now we're at eight point six. So 209 00:10:22,920 --> 00:10:26,120 Speaker 1: they weigh overshot the goal. As a matter of fact, Uh, 210 00:10:26,200 --> 00:10:30,120 Speaker 1: they overshot the goal by hundreds of percent um, not 211 00:10:30,120 --> 00:10:32,040 Speaker 1: not just a little bit, they overshot it by a 212 00:10:32,080 --> 00:10:33,720 Speaker 1: lot of The goal is to percent. Here we are 213 00:10:34,920 --> 00:10:39,520 Speaker 1: almost a nine. Yeah, not much precision. So now another 214 00:10:39,600 --> 00:10:43,520 Speaker 1: knee jerk reaction. Um, shoot, Now it's a problem. Before, 215 00:10:43,559 --> 00:10:45,240 Speaker 1: the problems before we couldn't get it. Now the problems 216 00:10:45,240 --> 00:10:47,440 Speaker 1: we have too much and we can't get it back 217 00:10:47,480 --> 00:10:49,480 Speaker 1: to two percent. So let's just smash it as low 218 00:10:49,480 --> 00:10:51,960 Speaker 1: as we can again, and who cares what happens with 219 00:10:52,000 --> 00:10:55,440 Speaker 1: everybody else in the economy. And unfortunately that's where we're 220 00:10:55,440 --> 00:10:58,160 Speaker 1: at now. A lot of a lot of people are waiting, 221 00:10:59,640 --> 00:11:04,280 Speaker 1: hope being that, Um, you know, the feed is gonna 222 00:11:04,360 --> 00:11:07,120 Speaker 1: pivot the pet, The feed is going to go back 223 00:11:07,120 --> 00:11:08,960 Speaker 1: into their feed. Put the FETE is going to say, oh, 224 00:11:09,040 --> 00:11:11,280 Speaker 1: forget the inflation, let's just pump the market back up. 225 00:11:11,600 --> 00:11:13,800 Speaker 1: But I'm not so sure about this now. I got 226 00:11:13,840 --> 00:11:15,400 Speaker 1: a couple of clips that I want to play that 227 00:11:15,440 --> 00:11:18,040 Speaker 1: I think helps illustrate this. If you want to understand 228 00:11:18,080 --> 00:11:20,199 Speaker 1: what's going on with inflation, and if you understand what's 229 00:11:20,200 --> 00:11:22,600 Speaker 1: going on with inflation, then you might understand what the 230 00:11:22,600 --> 00:11:24,920 Speaker 1: Fete is gonna do. So the first thing, like I said, 231 00:11:25,000 --> 00:11:29,280 Speaker 1: Jerome Powe was sitting down with the with the committee today, 232 00:11:29,600 --> 00:11:31,680 Speaker 1: let's play one clip that I have right here, so 233 00:11:31,720 --> 00:11:34,600 Speaker 1: we can start to understand what they're dealing with, what 234 00:11:34,640 --> 00:11:36,960 Speaker 1: they're looking at, and what this means to us. Here 235 00:11:36,960 --> 00:11:44,520 Speaker 1: we go, inflation is it's just an imbalance of supply 236 00:11:44,640 --> 00:11:49,880 Speaker 1: and demand. Can we agree on Matt, Yes, generally alright. 237 00:11:49,920 --> 00:11:54,679 Speaker 1: So that Senator John Kennedy and he is questioning Jerome Powell, 238 00:11:55,400 --> 00:11:58,080 Speaker 1: and he says, okay, look, you're trying to fight inflation, um, 239 00:11:58,120 --> 00:12:00,720 Speaker 1: so let's let's let's talk about this. He says that um, 240 00:12:00,800 --> 00:12:04,720 Speaker 1: inflation meaning prices going up. It's not really a real definition. 241 00:12:04,720 --> 00:12:07,040 Speaker 1: I'm not gonna geto that right now. But he says, inflation, 242 00:12:07,080 --> 00:12:11,440 Speaker 1: prices going up is really imbalance of supply and demand. 243 00:12:11,520 --> 00:12:14,760 Speaker 1: So look, man, these PhDs at the Fed, they want 244 00:12:14,760 --> 00:12:17,720 Speaker 1: to make this super complicated. It's not. It's super easy. 245 00:12:18,080 --> 00:12:21,240 Speaker 1: All prices are derived from supply and demand. Now, there's 246 00:12:21,480 --> 00:12:24,200 Speaker 1: trillions of reasons why supply and demand could change, but 247 00:12:24,320 --> 00:12:26,920 Speaker 1: ultimately comes down to supply and demand. So he asked 248 00:12:26,960 --> 00:12:30,920 Speaker 1: that question, he says, so, all inflation is an imbalance 249 00:12:31,080 --> 00:12:35,400 Speaker 1: of supplying demand. So if there's more supply then there 250 00:12:35,480 --> 00:12:39,040 Speaker 1: is demand, prices come down. That's the imbalance or the 251 00:12:39,040 --> 00:12:41,719 Speaker 1: imbalance works together way. If there's more demand than there 252 00:12:41,800 --> 00:12:45,520 Speaker 1: is supply, then prices go up. If there's ten people 253 00:12:45,600 --> 00:12:48,360 Speaker 1: trying to buy a house, but only one house for sale, 254 00:12:48,800 --> 00:12:51,960 Speaker 1: ten times the demand one house, the price is gonna 255 00:12:51,960 --> 00:12:54,000 Speaker 1: go up. It's gonna get bit up. If the opposite 256 00:12:54,080 --> 00:12:57,079 Speaker 1: was true, the imbalance, to his word, was the other way. 257 00:12:57,120 --> 00:12:59,040 Speaker 1: There was ten houses for sale but only one buyer, 258 00:12:59,520 --> 00:13:02,200 Speaker 1: the price would come down, all right. So that's what 259 00:13:02,200 --> 00:13:05,160 Speaker 1: he's saying. And Jerome Powell, you heard he says, yes, 260 00:13:05,520 --> 00:13:09,679 Speaker 1: that's right, all right. So now, um, let's play this 261 00:13:09,880 --> 00:13:13,360 Speaker 1: next clip here, which I think is pretty talent. So 262 00:13:13,480 --> 00:13:18,240 Speaker 1: here's what the FED is doing to get their prices stable. Again. 263 00:13:18,880 --> 00:13:22,040 Speaker 1: Let's check it out here. I got a situation where 264 00:13:22,080 --> 00:13:25,800 Speaker 1: demands up here, supplies down here. You're trying to mower demand. 265 00:13:26,800 --> 00:13:30,320 Speaker 1: M hm. So if the if the imbalance is off 266 00:13:30,360 --> 00:13:35,000 Speaker 1: causing the prices to go higher, then you have two levers. 267 00:13:35,720 --> 00:13:39,000 Speaker 1: You can either increase you can you can try to 268 00:13:39,000 --> 00:13:41,080 Speaker 1: solve the imbalance, right, So in this case, you could 269 00:13:41,200 --> 00:13:44,440 Speaker 1: increase the supplies, but of course the FED can't do that. 270 00:13:45,200 --> 00:13:48,400 Speaker 1: So if energy and food are too high, which of 271 00:13:48,480 --> 00:13:51,160 Speaker 1: course they are, then they could increase the supply of 272 00:13:51,160 --> 00:13:53,400 Speaker 1: those things. But the FED can't print food and they 273 00:13:53,400 --> 00:13:58,360 Speaker 1: can't print energy. Um, And so they have the other option, 274 00:13:58,400 --> 00:14:01,800 Speaker 1: which is to lower the demand, or what's actually called 275 00:14:02,160 --> 00:14:07,199 Speaker 1: demand destruction. So if they can't add more supply, let's 276 00:14:07,240 --> 00:14:10,000 Speaker 1: just take away. Let's just make you broke so that 277 00:14:10,080 --> 00:14:12,439 Speaker 1: you can't even afford it. Now, I know that sounds 278 00:14:12,679 --> 00:14:16,880 Speaker 1: pretty drastic, but that's exactly what he just said. As 279 00:14:16,920 --> 00:14:18,640 Speaker 1: a matter of fact, I got some more clips before 280 00:14:18,640 --> 00:14:20,400 Speaker 1: we get into that, though, Let's hear from somebody that 281 00:14:20,440 --> 00:14:23,200 Speaker 1: you should probably be listening to. And so, um, we 282 00:14:23,240 --> 00:14:26,320 Speaker 1: saw Bill Dudley. Now, Bill Dudley might not be a 283 00:14:26,400 --> 00:14:29,320 Speaker 1: name that you know, but you probably should because you 284 00:14:29,360 --> 00:14:33,280 Speaker 1: want to listen to people who are very influential. So, 285 00:14:33,360 --> 00:14:36,800 Speaker 1: for example, I've talked in the past about Mark Arney. 286 00:14:36,880 --> 00:14:38,760 Speaker 1: Most people don't know who Mark Karney is, but you should. 287 00:14:38,960 --> 00:14:41,640 Speaker 1: He's one of the most influential people in the whole world. 288 00:14:42,160 --> 00:14:43,840 Speaker 1: I'm not gonna get into Mark Arney right now. But 289 00:14:44,120 --> 00:14:46,840 Speaker 1: Bill Dudley is also pretty influential. So, like I said, 290 00:14:46,840 --> 00:14:50,160 Speaker 1: he was former Federal Reserve Bank of New York president. 291 00:14:50,840 --> 00:14:53,880 Speaker 1: So all the federal reserve banks, I believe, the New 292 00:14:53,960 --> 00:14:56,880 Speaker 1: York Bank is probably the most important and most powerful, 293 00:14:57,160 --> 00:14:59,440 Speaker 1: most influential. So he used to be the president of 294 00:14:59,480 --> 00:15:03,440 Speaker 1: the ed Reserve Bank of New York. UM. He also 295 00:15:03,640 --> 00:15:05,720 Speaker 1: was the head of the f O M c UM 296 00:15:05,800 --> 00:15:09,880 Speaker 1: Committee the Meetings, which sets the policies on this that's 297 00:15:09,920 --> 00:15:14,080 Speaker 1: also a pretty important position. And he worked at Goldman Sachs. 298 00:15:14,840 --> 00:15:17,520 Speaker 1: So if you worked at the government and Goldman Sachs, 299 00:15:17,920 --> 00:15:22,880 Speaker 1: that means you are pretty dang connected. And he says that. 300 00:15:23,680 --> 00:15:27,960 Speaker 1: Let's see here. He says, uh, the Fed quote hasn't 301 00:15:28,120 --> 00:15:33,160 Speaker 1: really accomplished much yet with its efforts to control inflation, 302 00:15:33,960 --> 00:15:36,880 Speaker 1: and we'll need to tighten financial conditions to push bonnields 303 00:15:36,960 --> 00:15:41,440 Speaker 1: higher and stock prices lower. This is where it gets good. 304 00:15:41,680 --> 00:15:45,880 Speaker 1: Quote if financial conditions don't cooperate with the Fed, the 305 00:15:45,920 --> 00:15:49,240 Speaker 1: Fed's going to have to do more until financial markets 306 00:15:49,440 --> 00:15:53,800 Speaker 1: do cooperate end quote. So what is he saying there. 307 00:15:54,520 --> 00:15:58,720 Speaker 1: He's basically saying that the Fed will need to force 308 00:15:59,280 --> 00:16:01,880 Speaker 1: stocks lower. We'll have to force it, which is what 309 00:16:02,480 --> 00:16:06,200 Speaker 1: Senator John Kinney was saying. You can't increase the supply, right, 310 00:16:06,240 --> 00:16:09,560 Speaker 1: so you're just focusing on the demand side, and Jerome 311 00:16:09,600 --> 00:16:12,760 Speaker 1: Power replied yes, which is what Bill Dudley says, which 312 00:16:12,800 --> 00:16:16,440 Speaker 1: is we might need to force stocks to fall. Why 313 00:16:16,520 --> 00:16:22,120 Speaker 1: would forcing stocks to fall um lower demand? Well, it's 314 00:16:22,200 --> 00:16:25,560 Speaker 1: demand destruction is something known as the wealth effect. And 315 00:16:25,600 --> 00:16:28,400 Speaker 1: so when your stock account goes up, when your retirement 316 00:16:28,440 --> 00:16:30,720 Speaker 1: account goes up, when your home goes up in value, 317 00:16:30,840 --> 00:16:34,120 Speaker 1: even though you weren't planning on selling your home most likely, right, 318 00:16:34,200 --> 00:16:35,680 Speaker 1: it's just your house. You weren't planning on selling it, 319 00:16:35,720 --> 00:16:38,760 Speaker 1: but it went up in value. You feel wealthy. You 320 00:16:38,800 --> 00:16:41,080 Speaker 1: see your retirement account go up. You're not planning on 321 00:16:41,160 --> 00:16:44,240 Speaker 1: cashing that in, not until you retire, but you feel wealthy. 322 00:16:44,280 --> 00:16:47,120 Speaker 1: That's the wealth effect. And when I feel more wealthy, 323 00:16:48,120 --> 00:16:52,640 Speaker 1: I spend more money um, and that creates more demand. 324 00:16:53,200 --> 00:16:57,200 Speaker 1: When I feel broke, when my house is upside down, underwater, 325 00:16:57,280 --> 00:16:59,280 Speaker 1: when my retirement account drops to a level that I 326 00:16:59,320 --> 00:17:02,440 Speaker 1: can't retire in anymore, then I feel broke. Even though 327 00:17:02,440 --> 00:17:04,880 Speaker 1: I wasn't playing on selling those assets, I still feel broke. 328 00:17:05,000 --> 00:17:07,160 Speaker 1: And now I'm not spending the money. So now I'm 329 00:17:07,200 --> 00:17:09,320 Speaker 1: not putting as much gas in my car, I'm not 330 00:17:09,359 --> 00:17:11,840 Speaker 1: taking those vacations, I'm not going out to dinner multiple 331 00:17:11,920 --> 00:17:17,439 Speaker 1: times a week, etcetera. Demand destruction through the wealth effect. Now, 332 00:17:17,480 --> 00:17:19,560 Speaker 1: like I said, I'm playing to the clips because I 333 00:17:19,600 --> 00:17:21,280 Speaker 1: want you to hear it from their mouth, not from mine. 334 00:17:21,440 --> 00:17:24,520 Speaker 1: That's exactly what sends. Senator John Kennedy asked Jerome Powell 335 00:17:24,640 --> 00:17:27,280 Speaker 1: that he replied to, Now, I got some more warnings 336 00:17:27,320 --> 00:17:29,159 Speaker 1: coming up from other people you need to listen to, 337 00:17:29,200 --> 00:17:30,920 Speaker 1: and I got some more clips so you can hear 338 00:17:30,960 --> 00:17:33,439 Speaker 1: it directly from their mouth. We're gonna walk through this 339 00:17:33,720 --> 00:17:36,800 Speaker 1: so you can understand exactly what's going on. I'm gonna 340 00:17:36,800 --> 00:17:40,280 Speaker 1: listening to the MARKETMA show. We're talking about the decentralized revolution. 341 00:17:40,320 --> 00:17:42,640 Speaker 1: We're talking about the way the financial system and really 342 00:17:42,680 --> 00:17:46,159 Speaker 1: the world is changing through politics, finance, and technology, and 343 00:17:46,240 --> 00:17:50,840 Speaker 1: its being driven by sound money and bitcoin driving this change. 344 00:17:51,600 --> 00:17:54,760 Speaker 1: And we're looking at it from I guess a microscopic level. Um, 345 00:17:54,800 --> 00:17:56,320 Speaker 1: I got a whole bunch to cover when I get back, 346 00:17:56,359 --> 00:17:58,840 Speaker 1: including some more sound clips. You can hear what they're saying. UM, 347 00:17:58,960 --> 00:18:02,080 Speaker 1: So don't go way I'll be right back. All right, 348 00:18:02,119 --> 00:18:04,240 Speaker 1: welcome back. You are listening to the Markma Show. We're 349 00:18:04,240 --> 00:18:07,439 Speaker 1: talking about the decentralized Revolution. We're talking about how the 350 00:18:07,520 --> 00:18:11,480 Speaker 1: world is changing driven by the financial markets. The financial 351 00:18:11,520 --> 00:18:14,040 Speaker 1: markets are changing, and your life is changing. The whole 352 00:18:14,080 --> 00:18:18,000 Speaker 1: world is changing because of this. And we're talking about 353 00:18:18,160 --> 00:18:22,080 Speaker 1: how the Federal Reserve is basically stuck and they're trying 354 00:18:22,080 --> 00:18:24,600 Speaker 1: to bring inflation down because of course of their dual mandate, 355 00:18:24,640 --> 00:18:27,000 Speaker 1: one of which is stable prices, and prices aren't stable. 356 00:18:27,359 --> 00:18:29,879 Speaker 1: They're going through the roof, and so they're trying to 357 00:18:29,880 --> 00:18:32,280 Speaker 1: bring prices down. But they can only bring prices up 358 00:18:32,640 --> 00:18:36,399 Speaker 1: down through one of two ways, increasing this supply or 359 00:18:36,440 --> 00:18:38,400 Speaker 1: taking away the demand. Of course, they're choosing to take 360 00:18:38,400 --> 00:18:40,160 Speaker 1: away the demand. I played you a clip of Drome 361 00:18:40,200 --> 00:18:43,720 Speaker 1: Palette manting so much, and Bill Dudley, former Pedo Reserve 362 00:18:43,760 --> 00:18:45,840 Speaker 1: Bank of New York president, said the same thing, that 363 00:18:45,880 --> 00:18:50,000 Speaker 1: they would have to force stocks down, which is exactly 364 00:18:50,160 --> 00:18:55,639 Speaker 1: what's happening now. Um, we have another warning from somebody 365 00:18:55,640 --> 00:18:57,520 Speaker 1: that we should all probably be listening to, and that's 366 00:18:57,600 --> 00:18:59,760 Speaker 1: Ray Dalio, one of the richest been in the world. 367 00:19:00,000 --> 00:19:03,200 Speaker 1: Out of the largest hedge funds in the world, Bridgewater Capital, 368 00:19:03,600 --> 00:19:06,399 Speaker 1: and when he talks, I listen. I just finished reading 369 00:19:06,480 --> 00:19:08,600 Speaker 1: his book, which was he has a new book out 370 00:19:08,600 --> 00:19:11,640 Speaker 1: which is amazing, um packed full of charts and graphs. 371 00:19:11,680 --> 00:19:14,640 Speaker 1: Definitely good, good read. But he says that Radio says, 372 00:19:14,680 --> 00:19:20,040 Speaker 1: reducing inflation will come at a great cost. So if 373 00:19:20,040 --> 00:19:23,240 Speaker 1: you want prices to come back down, we can do it. 374 00:19:24,080 --> 00:19:25,600 Speaker 1: But it's going to come at a great cost. Now 375 00:19:25,640 --> 00:19:27,960 Speaker 1: what's that great cost? Well, what did Bill Dudley say? 376 00:19:28,200 --> 00:19:32,240 Speaker 1: The Fed will need to smash stocks lower? So what 377 00:19:32,280 --> 00:19:34,440 Speaker 1: does that mean. What's this great cost? Well, that means 378 00:19:34,800 --> 00:19:38,720 Speaker 1: wiping out your net worth, wiping out your ability to 379 00:19:39,000 --> 00:19:46,359 Speaker 1: what potentially travel or potentially retire, potentially send your kids 380 00:19:46,359 --> 00:19:48,240 Speaker 1: to college, or buy your you know, pay for your 381 00:19:48,320 --> 00:19:50,520 Speaker 1: daughter's wedding. I mean, who knows, right, Um, let's take 382 00:19:50,520 --> 00:19:51,760 Speaker 1: a look at what he says. He says that the 383 00:19:51,760 --> 00:19:57,199 Speaker 1: FED is likely to chart a course that leads to stagflation. Now, stagflation, 384 00:19:58,040 --> 00:19:59,440 Speaker 1: I don't know what you think about that word when 385 00:19:59,440 --> 00:20:00,840 Speaker 1: you hear, but it is not a good thing. Now, 386 00:20:00,840 --> 00:20:03,680 Speaker 1: we haven't seen stagflation in the United States since the seventies, 387 00:20:04,760 --> 00:20:06,679 Speaker 1: but of course Japan has been dealing with this for 388 00:20:06,760 --> 00:20:12,080 Speaker 1: quite a while. What is stagflation. It's stagnant economy with inflation, 389 00:20:12,280 --> 00:20:15,800 Speaker 1: so that means prices continue to go up while economic 390 00:20:15,840 --> 00:20:18,840 Speaker 1: growth goes down. It's the worst combination. What you would 391 00:20:18,880 --> 00:20:21,480 Speaker 1: want is economic growth to get better and prices to 392 00:20:21,560 --> 00:20:24,760 Speaker 1: come down, and that would lead to massive human flourishment. 393 00:20:25,000 --> 00:20:26,600 Speaker 1: That would mean that you would have have to work 394 00:20:26,920 --> 00:20:30,359 Speaker 1: less hours to improve your quality of life. That means 395 00:20:30,400 --> 00:20:33,320 Speaker 1: that your life gets better over time and not worse. 396 00:20:33,720 --> 00:20:37,000 Speaker 1: But no, the opposite of that is economic growth goes down. 397 00:20:38,160 --> 00:20:41,639 Speaker 1: You make less money and things get more expensive at 398 00:20:41,640 --> 00:20:44,480 Speaker 1: the same time. That has a horrible combination. That's where 399 00:20:44,520 --> 00:20:46,840 Speaker 1: Japan has been. The United States was there in the seventies, 400 00:20:46,880 --> 00:20:49,199 Speaker 1: and he says Dahio says, the FED is likely to chart. 401 00:20:49,240 --> 00:20:52,200 Speaker 1: Of course, that leads us to stagflation. Now, why do 402 00:20:52,320 --> 00:20:54,240 Speaker 1: we talk about this again? If you're just tuning in, 403 00:20:54,359 --> 00:20:56,680 Speaker 1: why don't we talk about this when we're talking about 404 00:20:56,680 --> 00:20:59,440 Speaker 1: a decentralized revolution, we're talking about sound money, we're talking 405 00:20:59,440 --> 00:21:02,200 Speaker 1: about things like a coin. The reason why is because 406 00:21:02,640 --> 00:21:06,440 Speaker 1: this is the problem that the central bankers cause by 407 00:21:06,560 --> 00:21:10,639 Speaker 1: increasing the money supply and decreasing the money supply. Jerome 408 00:21:10,680 --> 00:21:14,440 Speaker 1: Powell is crashing the markets, As Dahio says, the FED, 409 00:21:14,600 --> 00:21:17,240 Speaker 1: the Federal Reserve is charting a course at least stagflation. 410 00:21:17,320 --> 00:21:20,920 Speaker 1: How by decreasing the money supply after they had increased 411 00:21:20,920 --> 00:21:25,720 Speaker 1: the money supply. It's ridiculous to think, when you understand 412 00:21:25,800 --> 00:21:28,600 Speaker 1: what's going on, that we have a group of people 413 00:21:28,840 --> 00:21:32,040 Speaker 1: that arbitrarily just increase the money and decrease the money 414 00:21:32,119 --> 00:21:35,480 Speaker 1: and send us the booms and bus and they cause um, 415 00:21:35,520 --> 00:21:39,640 Speaker 1: you know, massive destruction in their wake. And that's where 416 00:21:39,640 --> 00:21:42,920 Speaker 1: we're at. Most people don't understand how that works. Of course, 417 00:21:42,960 --> 00:21:44,840 Speaker 1: they don't teach you that, and that's why we're breaking 418 00:21:44,880 --> 00:21:46,399 Speaker 1: it down for you here. So anyway, he says that 419 00:21:46,400 --> 00:21:49,119 Speaker 1: they're there, that they're on the course to chart a 420 00:21:49,160 --> 00:21:51,719 Speaker 1: course to stagflation. I don't want to go into stagflation. 421 00:21:51,960 --> 00:21:53,399 Speaker 1: You don't want to go into stagflation now that you 422 00:21:53,480 --> 00:21:57,320 Speaker 1: understand what it is. So why should we have anybody 423 00:21:57,680 --> 00:22:00,240 Speaker 1: able to chart us a course there? Because I don't 424 00:22:00,240 --> 00:22:02,920 Speaker 1: want to go there. See what I'm saying. The ridiculousness 425 00:22:02,960 --> 00:22:06,080 Speaker 1: of having anybody control the money Radialio says, uh he 426 00:22:06,119 --> 00:22:09,760 Speaker 1: wrote Tuesday on LinkedIn It's naive quote it's naive and 427 00:22:09,880 --> 00:22:16,520 Speaker 1: inconsistent with how the economic machine works. So, um, it's naive. 428 00:22:16,920 --> 00:22:20,240 Speaker 1: He's calling the central bankers a naive, So, I mean, 429 00:22:20,640 --> 00:22:22,440 Speaker 1: I haven't used that word. That word might be a 430 00:22:22,480 --> 00:22:28,359 Speaker 1: little nice. I would call them either stupid or I 431 00:22:28,400 --> 00:22:30,760 Speaker 1: don't know, evil. They either don't know what they're doing 432 00:22:30,840 --> 00:22:34,200 Speaker 1: or they're doing it intentionally right, And in my opinion, 433 00:22:34,760 --> 00:22:37,280 Speaker 1: both of those are maybe equally as bad. If they 434 00:22:37,280 --> 00:22:39,000 Speaker 1: don't know what they're doing, then what the heck are 435 00:22:39,040 --> 00:22:41,400 Speaker 1: they doing there in the first place. And if they're 436 00:22:41,400 --> 00:22:43,640 Speaker 1: doing it intentionally, then what the heck are they doing 437 00:22:43,640 --> 00:22:47,359 Speaker 1: there right? Either way, So he calls it naive, okay, 438 00:22:47,400 --> 00:22:49,520 Speaker 1: a little bit nice? Um to think that the feder 439 00:22:49,520 --> 00:22:53,439 Speaker 1: reserve raising interest rates will quote, will make things good 440 00:22:53,480 --> 00:22:56,879 Speaker 1: again once it gets inflation under control. So he says, 441 00:22:58,119 --> 00:23:00,160 Speaker 1: if you think the Fed raising rates to try hard 442 00:23:00,160 --> 00:23:03,000 Speaker 1: to get inflation under control is going to make things better, 443 00:23:03,720 --> 00:23:07,800 Speaker 1: then you're naive and you're inconsistent. You have no idea 444 00:23:08,040 --> 00:23:10,239 Speaker 1: how the economic system works, which of course is their 445 00:23:10,240 --> 00:23:12,679 Speaker 1: whole plan. Of course you don't know how the economic 446 00:23:12,720 --> 00:23:15,280 Speaker 1: system works because the no one taught you that. They 447 00:23:15,280 --> 00:23:18,000 Speaker 1: specifically withheld that information from you. And any information you 448 00:23:18,040 --> 00:23:22,160 Speaker 1: did get was completely misleading. For example, teaching you Kinzian economics. 449 00:23:23,119 --> 00:23:25,239 Speaker 1: Um I. I put out a tweet maybe a week 450 00:23:25,359 --> 00:23:27,879 Speaker 1: or two ago, I said, the greatest trick the Federal 451 00:23:27,920 --> 00:23:31,639 Speaker 1: Reserve ever played was teaching you two things. One that 452 00:23:31,720 --> 00:23:34,879 Speaker 1: the money supply has to always expand for things to 453 00:23:34,880 --> 00:23:39,680 Speaker 1: get better, and two that assets like your home going 454 00:23:39,760 --> 00:23:42,960 Speaker 1: up in value is a good thing. Now, a lot 455 00:23:42,960 --> 00:23:44,560 Speaker 1: of you people might be listening to that and go, 456 00:23:44,640 --> 00:23:46,080 Speaker 1: what the heck mark you have? You have no idea 457 00:23:46,119 --> 00:23:48,159 Speaker 1: what you're talking about. Of course, the money supplies to expand. 458 00:23:49,840 --> 00:23:53,240 Speaker 1: It might be naive and inconsistent with how economics really works. 459 00:23:53,240 --> 00:23:56,280 Speaker 1: That's what Radalio was saying. By them arbitrarily increase the 460 00:23:56,320 --> 00:23:59,000 Speaker 1: money supply and then decreasing the money supply um to 461 00:23:59,119 --> 00:24:01,239 Speaker 1: get inflation, that could troll. Is not going to make 462 00:24:01,280 --> 00:24:02,800 Speaker 1: things better, That's what read I was saying. So take 463 00:24:02,800 --> 00:24:05,760 Speaker 1: it up with him. He says, Uh, while tightening leads 464 00:24:05,800 --> 00:24:09,880 Speaker 1: to less consumer spending, duh, Right, you take the money 465 00:24:09,920 --> 00:24:12,600 Speaker 1: away and then nobody has money to spend um, which 466 00:24:12,680 --> 00:24:17,160 Speaker 1: may reduce inflation. It doesn't make things better. So if 467 00:24:17,200 --> 00:24:19,879 Speaker 1: you take away people's ability to spend I guess it 468 00:24:19,920 --> 00:24:22,119 Speaker 1: takes I guess it lowers inflations because now no one 469 00:24:22,160 --> 00:24:24,560 Speaker 1: is buying anything, right, But it doesn't make things better, 470 00:24:24,960 --> 00:24:28,120 Speaker 1: and as a matter of fact, it makes things worse 471 00:24:28,240 --> 00:24:30,920 Speaker 1: in a couple of ways. He says, quote it shifts 472 00:24:31,080 --> 00:24:34,280 Speaker 1: some of the squeezing of people via via inflation to 473 00:24:34,440 --> 00:24:38,439 Speaker 1: squeezing them via giving them less buying power. So what 474 00:24:38,520 --> 00:24:41,840 Speaker 1: happens is when prices are going up, Um, they're being 475 00:24:41,880 --> 00:24:44,159 Speaker 1: squeezed by inflation. Prices are going up so fast they 476 00:24:44,160 --> 00:24:46,359 Speaker 1: can't buy enough gas, they can't buy enough food, they 477 00:24:46,359 --> 00:24:48,440 Speaker 1: can't run their air condition or their heat or when 478 00:24:48,440 --> 00:24:51,320 Speaker 1: they need to. So you squeeze them that way. But then, um, 479 00:24:51,520 --> 00:24:54,040 Speaker 1: you squeeze them by giving them less buying power. Now 480 00:24:54,080 --> 00:24:57,679 Speaker 1: they don't have any money. So what's worse. Things are 481 00:24:57,720 --> 00:25:00,919 Speaker 1: too expensive, right, just have no money altogether? Right, Either way, 482 00:25:00,960 --> 00:25:03,560 Speaker 1: it's a problem now. But also we're starting to see 483 00:25:03,560 --> 00:25:06,120 Speaker 1: and I believe this is going to continue, is that 484 00:25:06,640 --> 00:25:09,719 Speaker 1: by them trying to smash the stock price down like 485 00:25:09,720 --> 00:25:12,720 Speaker 1: Bill Dudley says, or take away the demand like Jerome 486 00:25:12,760 --> 00:25:16,000 Speaker 1: Powell says, um, they can actually make prices go up 487 00:25:16,080 --> 00:25:21,199 Speaker 1: even higher, not lower. So for example, they push the 488 00:25:21,200 --> 00:25:24,160 Speaker 1: demand low. You're broke. Gas prices go up. You can't 489 00:25:24,160 --> 00:25:26,760 Speaker 1: buy as much gas. Now, you can't commute to work 490 00:25:26,800 --> 00:25:28,959 Speaker 1: every day, So I'll just quit my job and live 491 00:25:29,000 --> 00:25:33,080 Speaker 1: on unemployment. So now there's less people working at that job. 492 00:25:33,160 --> 00:25:36,320 Speaker 1: Now that employer now has to find more people, he 493 00:25:36,359 --> 00:25:38,879 Speaker 1: has to pay them more wages. If he has to 494 00:25:38,920 --> 00:25:41,879 Speaker 1: pay more wages, his cost go up. And now he 495 00:25:41,920 --> 00:25:44,320 Speaker 1: has to increase the price of his goods and services 496 00:25:44,359 --> 00:25:47,560 Speaker 1: to pay for that offset. So by um prices going 497 00:25:47,600 --> 00:25:49,440 Speaker 1: up and then coming out and not buying that product, 498 00:25:49,480 --> 00:25:52,240 Speaker 1: it pushes the prices up. Supply chain start breaking down, 499 00:25:52,240 --> 00:25:54,560 Speaker 1: et cetera. Not enough people working at the refineries to 500 00:25:54,560 --> 00:25:56,560 Speaker 1: make enough gas, leader unload the ships at the dock, 501 00:25:56,640 --> 00:25:59,879 Speaker 1: and so that pushes prices up. So they're doing the 502 00:26:00,080 --> 00:26:02,960 Speaker 1: things to try to bring prices down by destroying demand, 503 00:26:02,960 --> 00:26:05,320 Speaker 1: but they destroyed demand so much that it actually pushes 504 00:26:05,359 --> 00:26:10,760 Speaker 1: prices up. It's quite the conundrum there, and and hopefully 505 00:26:10,800 --> 00:26:14,640 Speaker 1: you start to understand why it's completely insane to think 506 00:26:14,680 --> 00:26:20,080 Speaker 1: that we need a group of people managing the money supply. Right, Um, 507 00:26:20,200 --> 00:26:23,400 Speaker 1: let's play another clip that I have here ready to go, 508 00:26:23,720 --> 00:26:27,560 Speaker 1: and we'll see what he says here, there's another way 509 00:26:27,600 --> 00:26:29,560 Speaker 1: that they could do it. This might be a better way, 510 00:26:31,920 --> 00:26:37,320 Speaker 1: there's another way. The two aren't exclusive. You alluded to 511 00:26:37,359 --> 00:26:39,360 Speaker 1: that you can also go over demand, but you can 512 00:26:39,400 --> 00:26:44,920 Speaker 1: increase supply, can you not? And that would solve in place? Yes, 513 00:26:44,960 --> 00:26:49,320 Speaker 1: it would m M. Who would have thought that maybe 514 00:26:49,359 --> 00:26:53,520 Speaker 1: if we had more abundance instead of scarcity. Maybe if 515 00:26:53,560 --> 00:26:56,959 Speaker 1: instead of UM smashing people's ability to to buy the 516 00:26:56,960 --> 00:26:59,400 Speaker 1: things they want and live a good life, UM and 517 00:26:59,640 --> 00:27:01,840 Speaker 1: making a live a life of poverty to fight inflation, 518 00:27:01,840 --> 00:27:04,040 Speaker 1: how about if we just added more supply. How about 519 00:27:04,080 --> 00:27:06,520 Speaker 1: if we just went back to a day that didn't 520 00:27:06,520 --> 00:27:09,120 Speaker 1: seem like that long ago, when we actually had enough 521 00:27:09,280 --> 00:27:13,040 Speaker 1: energy that that would be a novel concept. Imagine going 522 00:27:13,080 --> 00:27:14,879 Speaker 1: to the store and like having all the stuff that 523 00:27:14,920 --> 00:27:16,680 Speaker 1: you wanted to buy on the shelves like we did 524 00:27:16,760 --> 00:27:20,199 Speaker 1: so long ago, like a year ago. How about we 525 00:27:20,240 --> 00:27:22,240 Speaker 1: just give them more supply? But how that can that 526 00:27:22,320 --> 00:27:24,960 Speaker 1: be done? Of course that's the difficult, difficult part of 527 00:27:25,000 --> 00:27:27,399 Speaker 1: the equation, right, Well, not really, I'll be back with 528 00:27:27,400 --> 00:27:28,600 Speaker 1: that and more in a minute. You're listening to the 529 00:27:28,600 --> 00:27:31,880 Speaker 1: Mark ma Show talking about the Decentralized Revolution, talking about 530 00:27:31,920 --> 00:27:35,000 Speaker 1: bitcoin and uh, talking about the federal SERF. I'll be 531 00:27:35,040 --> 00:27:36,880 Speaker 1: back with that more in a minute. Don't go away, 532 00:27:37,359 --> 00:27:39,040 Speaker 1: all right, welcome back. You are listening to the Mark 533 00:27:39,119 --> 00:27:41,679 Speaker 1: ma Show, and we are talking about, of course, the 534 00:27:41,720 --> 00:27:45,480 Speaker 1: decentralized revolution, talking about the way that bitcoin is changing 535 00:27:45,520 --> 00:27:48,560 Speaker 1: the world, looking at it through politics, finance, and technology. 536 00:27:49,000 --> 00:27:54,040 Speaker 1: And we've been talking about today the ridiculousness of having 537 00:27:54,160 --> 00:27:58,920 Speaker 1: central planners, or in this case, central bankers, planning for 538 00:27:59,000 --> 00:28:03,680 Speaker 1: our lives by arbitrarily increasing the money supply and decreasing 539 00:28:03,720 --> 00:28:06,719 Speaker 1: the money supply at their will. You don't have any 540 00:28:06,760 --> 00:28:10,000 Speaker 1: stalever it. There's no vote. They didn't ask you. They 541 00:28:10,000 --> 00:28:12,080 Speaker 1: didn't ask you if you want your business to prosper 542 00:28:12,160 --> 00:28:13,560 Speaker 1: and you want to make a bunch of money and 543 00:28:13,600 --> 00:28:16,600 Speaker 1: you want your retirement accounts to grow, or or they 544 00:28:16,600 --> 00:28:18,560 Speaker 1: didn't ask you if you'd also like your business to 545 00:28:18,600 --> 00:28:21,560 Speaker 1: be destroyed and you lose everything, including your retire amounts, 546 00:28:21,800 --> 00:28:24,680 Speaker 1: right retirement accounts. The didn't ask you that. Don't worry. 547 00:28:24,720 --> 00:28:27,440 Speaker 1: They didn't ask me either. Um, and so think about 548 00:28:27,480 --> 00:28:30,560 Speaker 1: the ridiculousness of that. And now I really had first 549 00:28:30,640 --> 00:28:33,120 Speaker 1: kind of came onto this. I've told my story before. 550 00:28:33,119 --> 00:28:34,959 Speaker 1: If you're new to the show. Then maybe you don't know, 551 00:28:35,040 --> 00:28:37,119 Speaker 1: but you know I had done very well for myself 552 00:28:37,920 --> 00:28:41,160 Speaker 1: coming uh right into my career. I started buying, investing 553 00:28:41,160 --> 00:28:44,040 Speaker 1: into real estate, had built up a massive real estate portfolio. 554 00:28:44,080 --> 00:28:46,680 Speaker 1: I had built several businesses, two of which I had 555 00:28:46,840 --> 00:28:50,080 Speaker 1: exits on fortune, made a bunch of money, had it 556 00:28:50,120 --> 00:28:53,200 Speaker 1: all on real estate. Um, I thought I was really smart. 557 00:28:53,240 --> 00:28:55,000 Speaker 1: I thought it was I thought I thought I had 558 00:28:55,040 --> 00:28:58,040 Speaker 1: it all figured out. And in two thousand and eight, 559 00:28:58,120 --> 00:29:00,479 Speaker 1: the Great Financial Crash came around, and I wasn't at 560 00:29:00,480 --> 00:29:03,160 Speaker 1: that time. I wasn't studying what the photo Reserve was doing. 561 00:29:03,360 --> 00:29:07,240 Speaker 1: I wasn't studying the financial markets, and uh, it cost 562 00:29:07,280 --> 00:29:10,360 Speaker 1: me everything. In the Great Financial Crash two thousand and eight. 563 00:29:10,360 --> 00:29:13,640 Speaker 1: It wiped out millions of Americans, millions of Americans who 564 00:29:13,680 --> 00:29:16,200 Speaker 1: had put their life savings into their homes and then 565 00:29:16,200 --> 00:29:21,080 Speaker 1: they lost them. And uh, you know, I at first 566 00:29:21,120 --> 00:29:24,080 Speaker 1: it was obviously as depressing as you might imagine. Um, 567 00:29:24,160 --> 00:29:25,800 Speaker 1: and then it's just like, well, I guess I gotta 568 00:29:25,800 --> 00:29:27,560 Speaker 1: figure it out, just dust myself off and get this 569 00:29:27,600 --> 00:29:29,800 Speaker 1: going again. And that's really when I first started digging 570 00:29:29,840 --> 00:29:33,720 Speaker 1: in to figure out what exactly went wrong. And when 571 00:29:33,720 --> 00:29:36,160 Speaker 1: I started digging into exactly what we're wrong, I found 572 00:29:36,160 --> 00:29:39,040 Speaker 1: out it's because of this Fiat money system. It's because 573 00:29:39,080 --> 00:29:42,400 Speaker 1: the photo reserve creates all this money out of thin air, 574 00:29:42,480 --> 00:29:47,640 Speaker 1: creates all this artificial stimulation and drives markets and asset 575 00:29:47,720 --> 00:29:53,480 Speaker 1: prices to unsustainable highs. And then even though maybe it's unsustainable, Uh, 576 00:29:53,520 --> 00:29:56,160 Speaker 1: they don't wait for the inevitable to happen. They just 577 00:29:56,160 --> 00:29:57,959 Speaker 1: just suck all the money right back out of the economy, 578 00:29:58,000 --> 00:30:01,560 Speaker 1: crank up the interest rates. They caused complete implosion, caused 579 00:30:01,600 --> 00:30:03,200 Speaker 1: the crash of the markets. Like I said, millions of 580 00:30:03,200 --> 00:30:06,840 Speaker 1: people lost their homes, lost everything. And as I started 581 00:30:06,800 --> 00:30:09,800 Speaker 1: to study that, I realized that the cure to this 582 00:30:10,000 --> 00:30:13,960 Speaker 1: would be a type of money that they couldn't print 583 00:30:14,000 --> 00:30:17,120 Speaker 1: out of thin air, they couldn't create more of And 584 00:30:17,200 --> 00:30:19,880 Speaker 1: that led me to become a gold bug. Now gold 585 00:30:19,920 --> 00:30:23,280 Speaker 1: has been money for basically all of recorded history. It's 586 00:30:23,320 --> 00:30:26,400 Speaker 1: been money for over five thousand years, and gold works 587 00:30:26,440 --> 00:30:29,640 Speaker 1: really well as money because you can't just arbitrarily go 588 00:30:29,760 --> 00:30:33,320 Speaker 1: create more If you want to get more gold, there's 589 00:30:33,320 --> 00:30:36,040 Speaker 1: a true cost of capital for that. I have to 590 00:30:36,640 --> 00:30:40,280 Speaker 1: go spend money to go scout land and find some 591 00:30:40,360 --> 00:30:42,160 Speaker 1: land that may have some gold and have to spend 592 00:30:42,160 --> 00:30:44,200 Speaker 1: money to get equipment, and have to spend money to 593 00:30:44,200 --> 00:30:46,200 Speaker 1: get people there. And I have to set up all 594 00:30:46,240 --> 00:30:48,640 Speaker 1: the mining equipment and mind it and process it. And 595 00:30:48,680 --> 00:30:54,480 Speaker 1: it's going to cost me real energy, real time, and 596 00:30:54,480 --> 00:30:57,280 Speaker 1: and my money in order to get that gold. And 597 00:30:57,440 --> 00:31:00,440 Speaker 1: you know, I don't know where's at today. An ounce, 598 00:31:00,720 --> 00:31:02,920 Speaker 1: I can sell it for eight ounces. I make three 599 00:31:03,600 --> 00:31:05,760 Speaker 1: on that, but I can't just go create the gold 600 00:31:05,800 --> 00:31:08,680 Speaker 1: from thin air. So there's a true cost of capital. 601 00:31:08,720 --> 00:31:11,240 Speaker 1: And so that that's the that's the restraint. Now, it's 602 00:31:11,240 --> 00:31:14,920 Speaker 1: not perfect because the supply of gold is increasing over 603 00:31:15,000 --> 00:31:18,520 Speaker 1: time every year, but at least it had a restraint, 604 00:31:18,920 --> 00:31:21,760 Speaker 1: unlike what we saw in the last twenty four months 605 00:31:21,760 --> 00:31:24,400 Speaker 1: in the United States, where we saw the money supply 606 00:31:24,560 --> 00:31:30,520 Speaker 1: increased by all. The dollars in existence today were created 607 00:31:30,600 --> 00:31:33,440 Speaker 1: in the last couple of years, and they weren't created 608 00:31:33,520 --> 00:31:35,880 Speaker 1: with a true cost of capital. They weren't created with 609 00:31:35,920 --> 00:31:40,120 Speaker 1: any sort of energy expenditure, or time commitment or wealth expenditure. 610 00:31:40,320 --> 00:31:44,120 Speaker 1: They were created, um by the push of a button. 611 00:31:45,640 --> 00:31:48,200 Speaker 1: And when you create that much money, it creates all 612 00:31:48,240 --> 00:31:50,560 Speaker 1: these distortions, which includes people not wanting to work and 613 00:31:50,560 --> 00:31:52,160 Speaker 1: they'll stay home and just get paid, and then supply 614 00:31:52,280 --> 00:31:54,120 Speaker 1: chain start breaking down and there's too much demand, so 615 00:31:54,120 --> 00:31:55,840 Speaker 1: they start buying too many products, and they start taking 616 00:31:55,880 --> 00:31:57,920 Speaker 1: too many occasions, and on and on and on and 617 00:31:57,920 --> 00:32:01,200 Speaker 1: so then the supply demand in balances get out of order. 618 00:32:01,240 --> 00:32:03,000 Speaker 1: Back to what we started talking about at the beginning, 619 00:32:03,560 --> 00:32:07,400 Speaker 1: with the Senator John Kennedy explaining that to J. Powell 620 00:32:07,440 --> 00:32:12,360 Speaker 1: from the FED, and he was agreeing to that. And 621 00:32:12,400 --> 00:32:15,520 Speaker 1: it's good while it's happening. The problem is is that 622 00:32:15,560 --> 00:32:18,440 Speaker 1: if you're if you're in construction or you're in some 623 00:32:18,520 --> 00:32:22,680 Speaker 1: sort of service business, that all this demand increase, you 624 00:32:22,720 --> 00:32:25,000 Speaker 1: have more work than you've ever had before. So you 625 00:32:25,080 --> 00:32:28,400 Speaker 1: try to grow to meet that demand. I need to 626 00:32:28,400 --> 00:32:31,040 Speaker 1: serve more customers. They want to buy more products, and 627 00:32:31,080 --> 00:32:34,160 Speaker 1: so you hire more people and you expand your business 628 00:32:34,160 --> 00:32:36,080 Speaker 1: and you get a bigger building, and you take on 629 00:32:36,160 --> 00:32:38,920 Speaker 1: more debt to buy new company vehicles and all that stuff, 630 00:32:38,920 --> 00:32:41,200 Speaker 1: and everything's going great and you're growing, you're growing, and 631 00:32:41,200 --> 00:32:44,960 Speaker 1: everything's happy, and then the FED decides to crash the 632 00:32:45,000 --> 00:32:48,280 Speaker 1: market on you. And now you have all these new 633 00:32:48,320 --> 00:32:50,360 Speaker 1: buildings and all these all this new staff, and you 634 00:32:50,360 --> 00:32:52,680 Speaker 1: have all these new vehicles and all these new loans, 635 00:32:52,720 --> 00:32:58,360 Speaker 1: and now you can't service it, and now potentially your 636 00:32:58,440 --> 00:33:01,560 Speaker 1: life that you've put into this business, your blood, sweat, 637 00:33:01,560 --> 00:33:04,840 Speaker 1: your your tears, all the time you sacrificed, everything has 638 00:33:04,880 --> 00:33:08,080 Speaker 1: been put into that and then potentially you lose it all. 639 00:33:09,560 --> 00:33:12,160 Speaker 1: You lose it all because some central bankers decided to 640 00:33:12,160 --> 00:33:15,920 Speaker 1: pull that back out. Now, you know, you didn't have 641 00:33:16,040 --> 00:33:19,479 Speaker 1: to grow that fast. You didn't have to expand your business, 642 00:33:19,520 --> 00:33:21,440 Speaker 1: you didn't have to take on new company vehicles, you 643 00:33:21,480 --> 00:33:24,720 Speaker 1: didn't have to hire new employees, except for you kind 644 00:33:24,760 --> 00:33:28,440 Speaker 1: of did because they were increasing the money supply so 645 00:33:28,640 --> 00:33:32,160 Speaker 1: fast that if you're not growing your business, you're actually 646 00:33:32,160 --> 00:33:35,200 Speaker 1: falling behind either way. So you're forced to act. You 647 00:33:35,240 --> 00:33:36,880 Speaker 1: can't just go away, I'm out. I'm not going to 648 00:33:36,960 --> 00:33:39,760 Speaker 1: play this game. You have to play, because one way 649 00:33:39,840 --> 00:33:41,600 Speaker 1: or another, the game is being played, whether you're in 650 00:33:41,640 --> 00:33:43,479 Speaker 1: it or not. And so you can decide to do 651 00:33:43,560 --> 00:33:47,720 Speaker 1: nothing and lose of your wealth, lose your purchaseing in 652 00:33:47,720 --> 00:33:50,560 Speaker 1: power because they increase that monetary supply, or you can 653 00:33:50,560 --> 00:33:53,040 Speaker 1: play the game and try to grow your business to 654 00:33:53,160 --> 00:33:56,680 Speaker 1: increase your revenue to offset the loss that you've had 655 00:33:56,720 --> 00:33:59,400 Speaker 1: from their theft and so you're forced to play either way, 656 00:33:59,520 --> 00:34:02,720 Speaker 1: but you don't know that the odds are stacked against 657 00:34:02,760 --> 00:34:05,720 Speaker 1: you because you weren't in that fo MC meeting that 658 00:34:05,760 --> 00:34:08,359 Speaker 1: the FED had, and neither were I. And as a 659 00:34:08,400 --> 00:34:10,680 Speaker 1: matter of fact, they don't even know what they're doing. 660 00:34:11,080 --> 00:34:14,000 Speaker 1: What do I mean by that, Well, well, generally I 661 00:34:14,000 --> 00:34:15,839 Speaker 1: don't think they know what they're doing, but even more 662 00:34:15,880 --> 00:34:17,879 Speaker 1: practically they don't know what they're doing. So the FED 663 00:34:17,960 --> 00:34:20,359 Speaker 1: said this last meeting, they raised the rates point zero 664 00:34:20,360 --> 00:34:22,640 Speaker 1: point seven five. They said, uh, we don't think we're 665 00:34:22,680 --> 00:34:25,600 Speaker 1: gonna raise rates past zero point five. So that's what 666 00:34:25,640 --> 00:34:29,080 Speaker 1: they said days before the meeting. Now they're not in 667 00:34:29,160 --> 00:34:31,680 Speaker 1: a habit. Their their goal is not to trick people. 668 00:34:32,800 --> 00:34:36,000 Speaker 1: Their goal is to project and let people know what 669 00:34:36,000 --> 00:34:38,040 Speaker 1: they're gonna do, because the markets don't want to get spooked, 670 00:34:38,160 --> 00:34:41,279 Speaker 1: so they'y're not trying to trick people. They thought they 671 00:34:41,320 --> 00:34:43,319 Speaker 1: were going to raise rates by zero point five and 672 00:34:43,480 --> 00:34:47,000 Speaker 1: days before their meeting they changed their mind. And so 673 00:34:47,040 --> 00:34:48,759 Speaker 1: my point is they don't even know what they're doing 674 00:34:48,920 --> 00:34:52,160 Speaker 1: weeks in advance. Um, it makes me think about this 675 00:34:52,239 --> 00:34:56,400 Speaker 1: quote from Vladimir Lenin. He said, the best way to 676 00:34:56,600 --> 00:35:01,279 Speaker 1: destroy the capitalist system. The best way to destroy capitalism 677 00:35:01,400 --> 00:35:04,839 Speaker 1: was to debouch the currency, destroy the currency. How how 678 00:35:04,840 --> 00:35:06,440 Speaker 1: do you debout you? How do you destroy the currency? 679 00:35:06,440 --> 00:35:09,759 Speaker 1: Will you do it? He says? By a continuing process 680 00:35:09,840 --> 00:35:15,920 Speaker 1: of inflation, governments can confiscate secretly and unobserved an important 681 00:35:15,960 --> 00:35:19,320 Speaker 1: part of the wealth of their citizens. So um, they increase, 682 00:35:19,360 --> 00:35:26,439 Speaker 1: then they stole secretly and unobserved of your wealth. By 683 00:35:26,440 --> 00:35:30,640 Speaker 1: this method, they not only confiscate, but they confiscate arbitrarily. 684 00:35:30,719 --> 00:35:33,080 Speaker 1: That's the world I've been using with no rhyme reason, 685 00:35:33,160 --> 00:35:37,359 Speaker 1: just whenever they want there or whatever. Right, He goes 686 00:35:37,400 --> 00:35:39,799 Speaker 1: on to say. Here, Um, as inflation proceeds and the 687 00:35:39,880 --> 00:35:44,759 Speaker 1: real value of the currency fluctuates, the ultimate foundation of 688 00:35:44,920 --> 00:35:48,719 Speaker 1: capitalism became so utterly disordered as to be almost meaningless. 689 00:35:48,719 --> 00:35:50,799 Speaker 1: What does it even mean anymore? And the process of 690 00:35:50,840 --> 00:35:54,560 Speaker 1: wealth getting degenerates into a gamble and a lottery, which 691 00:35:54,560 --> 00:35:56,600 Speaker 1: sounds kind of like where're at today? Right, Everything is 692 00:35:56,600 --> 00:35:58,759 Speaker 1: a gamble a lottery if you want to make money. Um, 693 00:35:58,840 --> 00:36:01,040 Speaker 1: the days of being okay, making six or eight percent 694 00:36:01,040 --> 00:36:03,640 Speaker 1: returns in your stock were fully are gone. Most people 695 00:36:03,640 --> 00:36:07,440 Speaker 1: I see coming across my comments across social media is uh, 696 00:36:07,480 --> 00:36:10,600 Speaker 1: I need to make in three months. If I can't make, 697 00:36:11,360 --> 00:36:14,839 Speaker 1: then it's it's it's a loser, right, And everyone's been 698 00:36:14,880 --> 00:36:18,200 Speaker 1: pushed into becoming a gambler, a degenerate gambler in his words, 699 00:36:19,040 --> 00:36:23,040 Speaker 1: Um forced to go use risky things like Tera, Luna 700 00:36:23,120 --> 00:36:27,200 Speaker 1: and Celsius, forced to gamble because if you don't play 701 00:36:27,239 --> 00:36:30,680 Speaker 1: that game, you're gonna lose either way. So I'm gonna lose. 702 00:36:30,719 --> 00:36:33,080 Speaker 1: I guess I might as well gamble, Which is why 703 00:36:33,320 --> 00:36:36,360 Speaker 1: it's insanity to think that we have a group of people, 704 00:36:36,440 --> 00:36:40,719 Speaker 1: central planners, centrally planning our money supply. Which is why 705 00:36:40,840 --> 00:36:42,840 Speaker 1: going back to becoming a gold bug and really becoming 706 00:36:42,840 --> 00:36:45,040 Speaker 1: a sound money advocate, it brings me back to bitcoin. 707 00:36:45,680 --> 00:36:48,319 Speaker 1: There's just no other way without bitcoin. Instead of taking 708 00:36:48,360 --> 00:36:50,239 Speaker 1: it from some corrupt people and given to some other 709 00:36:50,239 --> 00:36:54,400 Speaker 1: corrupt people, we use something like bitcoin that nobody can control. 710 00:36:54,560 --> 00:36:56,560 Speaker 1: That's the whole point. That's what I got for today. 711 00:36:56,560 --> 00:36:58,600 Speaker 1: Thanks for listening to the Markmas Show. Until next time,