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Speaker 1: Now here's a highlight from Coast to Coast AM on

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Speaker 1: iHeartRadio and Welcome back to Coast to Coast George Nori

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Speaker 1: with Kristin Ragasov. Her book is called The End of Scarcity.

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Speaker 1: Where do people get your book, Kristen? Oh? Everywhere, Amazon,

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Speaker 1: Barnes and Noble, Apple Books. Even small retailers can order it,

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Speaker 1: so's it's pretty much as easy to get as just

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Speaker 1: clicking either on my website or any of their favorite retailers.

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Speaker 1: We keep hearing talk about a cashlest society. Is that realistic? Yeah,

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Speaker 1: you know, there's been a big movement for a long

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Speaker 1: time and there's a lot of momentum right now, and

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Speaker 1: I think that people have to really start looking at it.

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Speaker 1: Hopefully it's something that we're going to reject across the board.

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Speaker 1: But you know, COVID also was a driver in that,

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Speaker 1: and we have a lot of pilots being run and

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Speaker 1: even today, I think just today the ECB, the European

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Speaker 1: Central Bank announced in the Eurozone no one can pay

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Speaker 1: more than ten thousand euros in cash. And you have

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Speaker 1: Nigeria right now where they only can get forty five

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Speaker 1: dollars out of the ATM because Nigeria is trying to

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Speaker 1: push going completely digital with the digital currency. That is

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Speaker 1: something else I know in this country in terms of

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Speaker 1: deposits and withdrawals are restricted as well before everything gets reported,

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Speaker 1: and it could be your own money. That's right, that's right,

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Speaker 1: it really is. You know, we have such an unconscious

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Speaker 1: relationship with money, and yet money is the most important

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Speaker 1: factor in society. And you know, often people say it's

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Speaker 1: agreed in humanity and everything else, and it's not fixable.

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Speaker 1: I really don't believe it. I think that we're wired

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Speaker 1: for altruism. You know, there's so many scientific studies that

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Speaker 1: show us this, and even our immune systems go up

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Speaker 1: when we witness an act of kindness that we're not

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Speaker 1: even partaking in. And so when we get a chance

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Speaker 1: to actually design money correctly, which has been done over

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Speaker 1: and over in history, we actually can turn the tables.

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Speaker 1: And this is going to be something that's really important,

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Speaker 1: especially as these central bank digital currencies come more to

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Speaker 1: the forefront and our ability to really access the money

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Speaker 1: that we've created by contributing to each other begins to

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Speaker 1: be limited. Is there a difference between money and wealth, Oh,

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Speaker 1: there really is. You know, wealth is something that I

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Speaker 1: think again, we've been indoctrinated to think that we're separate

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Speaker 1: from and yet wealth is absolutely an inseparable part of

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Speaker 1: every single human, every baby that's born, that community now

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Speaker 1: has gone up and wealth there's some unique, beautiful passion

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Speaker 1: and divine talents running through them. And so often when

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Speaker 1: I say to people that money and wealth are totally separate,

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Speaker 1: I sort of get that stare, that empty look, and

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Speaker 1: people will say, well, then what on earth is wealth? Well,

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Speaker 1: of course it's everything that we buy with money, but moreover,

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Speaker 1: our imagination, our passion, all the resources, and money was

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Speaker 1: meant to be this beautiful, wonderful, supportive technology that would

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Speaker 1: say what do you want to contribute? What do you

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Speaker 1: want to express in this world? And how can I

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Speaker 1: serve you? And this is why we came together as

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Speaker 1: a society to actually create money to help us. Well,

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Speaker 1: we're not alone in this planets. It's worldwide this issue,

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Speaker 1: isn't it. It really is? It really is. And you know,

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Speaker 1: sad to say, I think that in a hundred years,

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Speaker 1: or maybe one hundred and fifty years, the real wisdom

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Speaker 1: about money has slowly been lost, whether it's been through

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Speaker 1: textbooks or it's been just through the culture and even

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Speaker 1: the game of Monopoly, you know, which became very popular

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Speaker 1: during the Great Depression, oh, you know, probably somewhere in

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Speaker 1: the early thirties, and it was it was actually originally

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Speaker 1: the Landlord's game. There were two ways to play it.

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Speaker 1: You would either play it as Monopoly or play it

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Speaker 1: as Prosperity. And it's just kind of amazing. As it

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Speaker 1: became mainstream, somehow Prosperity nook got lost in the winds,

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Speaker 1: and so we've been inculturated to believe it's a very

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Speaker 1: hobbsy and dogg eat dog, you know, man of the

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Speaker 1: jungle society, when in fact, when we start coming to

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Speaker 1: terms with wow, money is something like the telephone or

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Speaker 1: the computer, or a plane or a car. Is it

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Speaker 1: designed in the way that supports society, all of a sudden,

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Speaker 1: a whole new world opens up for us. When I

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Speaker 1: was a kid, I would buy as much property in

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Speaker 1: the Monopoly games as I could find, hoping that people

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Speaker 1: would land on it and have to pay me my mortgage,

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Speaker 1: rent and everything else. As I got older, I don't

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Speaker 1: play that in real life. Why not? Yeah, you know,

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Speaker 1: I was super aggressive when I played it to you.

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Speaker 1: My poor sister would humor me until she just couldn't

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Speaker 1: take it anymore. I bought everything everything I landed on

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Speaker 1: I tried to buy absolutely. You know, we're rewarding this way,

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Speaker 1: and even you can apply it to some to you know,

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Speaker 1: all of our sort of made heroes like Elon Musk

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Speaker 1: or even you know, even you know, all the different

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Speaker 1: investors like Jimmy Rogers and so on. We emulate in

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Speaker 1: our society the super rich, and it's held out there

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Speaker 1: to say, this can be you, this can happen. And

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Speaker 1: the problem is is that unless the technology of money

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Speaker 1: is designed correctly, it's really that social mobility, and that

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Speaker 1: that tremendous success of the American dream maintains itself as

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Speaker 1: the ephemeral carrot, and people become more frustrated. And then

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Speaker 1: we see what we have in society today, which are

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Speaker 1: all these wonderful people more and more divided, more, you know,

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Speaker 1: just feeling hopeless in different ways, fractured politically, economically, now socially,

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Speaker 1: and we're spinning our tails. And yet the real simple

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Speaker 1: route of the problem is just waiting for us to discover.

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Speaker 1: And when we find this, we will actually really be

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Speaker 1: able to reunify this world because sadly, we're not even

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Speaker 1: going to be able to get hold of the politics

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Speaker 1: again and end the corruption until we change the money.

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Speaker 1: Where does greed come in to this? You know, you know,

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Speaker 1: greed is definitely in the human domain, right, I mean,

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Speaker 1: it's it's it's really when the survivor gets triggered, whether

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Speaker 1: it's from all the world wars and everything that our

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Speaker 1: ancestors have been through. This whole sense of scarcity is

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Speaker 1: in the body. But at the same point in time,

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Speaker 1: scarcity is truly an illusion because we're living in an abundant,

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Speaker 1: an abundant planet, whether we agree the way the resources

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Speaker 1: are distributed or not, but it's an abundant form that

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Speaker 1: we're in. And yet the way we're organized. And the

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Speaker 1: lynchpin again is because when you create borrowers debt as money.

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Speaker 1: And I'll tell you here's the big secret about it.

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Speaker 1: It's it's when when the debt is repaid, when people

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Speaker 1: do the right thing in society and repay their debt,

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Speaker 1: not only is their debt gone, but the money that

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Speaker 1: the debt created is also extinguished. So every time somebody

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Speaker 1: pays the debt, there's less money in society. If the

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Speaker 1: United States government would pay off the federal debt, we

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Speaker 1: would have a depression of unforeseen proportion. And this creates

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Speaker 1: that underlying hamster wheel and the panic that is feeds

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Speaker 1: all of this greed. It comes from lack, but it's

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Speaker 1: an illusion. If you were running the Federal Reserve, would

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Speaker 1: you be doing what Paul is doing now raising interest rates? Well,

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Speaker 1: i'll tell you, on one level, he really has no

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Speaker 1: choice because as much as we believe that the Fed

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Speaker 1: actually can control the quantity of money, they can't, and

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Speaker 1: so they really don't have the tools to actually stop inflation.

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Speaker 1: And so you know, most people think he started late

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Speaker 1: then went too hard, and his comments today also were

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Speaker 1: pretty strong, just as Howard Bloom was talking about with

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Speaker 1: you earlier. And so on one level, they have no

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Speaker 1: choice to say, Gosh, the house is on fire. How

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Speaker 1: do we put the fire out? Oh, we're going to

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Speaker 1: burn the house down. Then we're going to say, look,

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Speaker 1: we put the fire out. And so they're stuck in

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Speaker 1: the system like everybody else, because when you create money

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Speaker 1: out of borrower's debt, you have to now turn off

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Speaker 1: the spicket where people can't borrow anymore. They can't they

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Speaker 1: can't have a free, open, luxurious feeling of that they

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Speaker 1: can actually access money. And that's the problem of what

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Speaker 1: happens when we get in these tightening phases. If you

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Speaker 1: were in your twenties right now, how would you be

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Speaker 1: adjusting your future financially, you know, in twenties in my choice,

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Speaker 1: you know, I would really I would say, you know,

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Speaker 1: for the whole generations the biggest way that they can

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Speaker 1: that they can impact the future, because really the twenties,

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Speaker 1: they are the generation who has the opportunity to almost

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Speaker 1: answer their great grandparents prayers. The most important thing that

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Speaker 1: I would be doing if I had, if I had

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Speaker 1: the opportunity, would be having this money history, which is

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Speaker 1: the most interesting, it's the most fascinating history, and it's

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Speaker 1: been worked out of the worked out of the textbooks.

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Speaker 1: Once the new generations get a hold of this history again,

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Speaker 1: they have the power back in their hands to recreate

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Speaker 1: the world, and to create the world on a basis

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Speaker 1: of contributing and a basis of igniting their passions again

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Speaker 1: that really weren't available to us quite when we were children.

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Speaker 1: And then they'll also be able to appreciate all that

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Speaker 1: their grandparents did because the problem is, I really think

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Speaker 1: for a lot of these twenty some things, they've been

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Speaker 1: campaigned that their grandparents created the death that they're inheriting,

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Speaker 1: that they ruined their world, when in fact, this was

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Speaker 1: the greatest generation who worked and built this country and

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Speaker 1: left such a legacy of character that they need. And

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Speaker 1: it will bring the opportunity of these two worlds to

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Speaker 1: come together and and really give them a chance to

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Speaker 1: create the world, but in a sustainable way without booms

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Speaker 1: and bus and without this kind of rampant greed that

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Speaker 1: destroys everything that we see. Thirties to forties, what would

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Speaker 1: you do thirties to forties? You know, still I might

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Speaker 1: sound like a broken record, but I'll tell you without

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Speaker 1: the money history, without this corek competency, ending this unconscious

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Speaker 1: relationship with money as as technology, that's first everybody needs it,

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Speaker 1: and and then you know, it's also really falling in

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Speaker 1: love with what you do for work. I think that

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Speaker 1: you know, we've we've still been enculturated to this sort

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Speaker 1: of an exploitation type of society. We've got to get

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Speaker 1: as much as we can, as fast as we can,

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Speaker 1: from whoever we can. And it just feels our soul

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Speaker 1: because we really are meant to, you know, to give

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Speaker 1: of our gifts, and when we are able to have

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Speaker 1: a job or do work where we're really giving of

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Speaker 1: our passions and growing, we have a chance to get

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Speaker 1: to know who we are. And so I would say

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Speaker 1: definitely in thirties and forties, reevaluating, you know, the whole

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Speaker 1: trajectory of their lives, what do they want, do they

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Speaker 1: love what they're doing, and to really put effort into

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Speaker 1: finding a job in which they can contribute that ignites

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Speaker 1: their whole soul. Fifties to sixties, fifties to sixties, you know,

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Speaker 1: it starts to also get to make sure that risk

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Speaker 1: is somewhat reduced. You know, savings are definitely important along

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Speaker 1: these lines and people, you know, you can even see

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Speaker 1: from the push for the irs to say we need

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Speaker 1: to look at every transaction over six hundred dollars that

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Speaker 1: the gig economy is sort of replaced the concept of retirement.

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Speaker 1: And that's a very sad, defeatist type of thing. I

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Speaker 1: don't believe it. I think definitely fifties and sixties putting

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Speaker 1: effort into make sure that you're living in a thriving community,

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Speaker 1: getting to know your neighbors, getting to know your farmers,

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Speaker 1: supporting all of your local businesses and creating real wealth

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Speaker 1: that way, and safety nets. And this is something that's

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Speaker 1: going to be the most important that we've lost. You know.

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Speaker 1: I spent a lot of time in India and they

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Speaker 1: would always be trying to raise money for poor villages

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Speaker 1: and all these and I would walk around and actually

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Speaker 1: look at them and say, you know what, these people

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Speaker 1: aren't poor at all. In fact, they're quite wealthy. They

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Speaker 1: have family and religion and tradition and skills and talents.

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Speaker 1: You know, they just don't have money. So what have

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Speaker 1: we facilitated a way for them to issue their own currency,

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Speaker 1: their own money backed by the production, which is of

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Speaker 1: course what's been done day in and day out. You know. Ireland,

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Speaker 1: I think even in nineteen seventy their whole banking system

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Speaker 1: went on strike and they used private enterprise money for

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Speaker 1: a half a year work too, didn't I isn't it amazing?

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Speaker 1: You know? And so the simple that's the solution that's

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Speaker 1: waiting for us is so simple, you know, and it's

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Speaker 1: been used so many times in the past. It's just

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Speaker 1: that the positive side of blockchain, you know, we hear

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Speaker 1: so much of the negative part of blockchain with all

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Speaker 1: of these, you know, and there's a lot, and there's

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Speaker 1: flat there's a lot. Definitely, you know, ninety nine percent

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Speaker 1: of what you see in the crypto world is pure

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Speaker 1: speculation and a lot of hype. Right. But but the

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Speaker 1: blockchain system itself is like the Internet. So I often

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Speaker 1: say to people, if you don't know what the difference

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Speaker 1: is between crypto and blockchain, it's like saying, there's Amazon,

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Speaker 1: it operates on the Internet, and there's cryptocurrencies or bitcoin,

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Speaker 1: and it operates on the blockchain. And the blockchain is

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Speaker 1: an amazing technology that when we use it prudently, it

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Speaker 1: will change the world like the Internet did. If you're

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Speaker 1: in your seventies, do you have a different change than

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Speaker 1: fifties to sixty. Yeah, you really do, you know, if

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Speaker 1: you're in your seventies, again, I think it still is community.

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Speaker 1: It's it's having an opportunity to really impart your wisdom,

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Speaker 1: to really make sure that your wisdom is being imparted

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Speaker 1: to your family. And also still I think people need

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Speaker 1: to make sure that they're putting themselves and their money

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Speaker 1: in the in the safest ways possible. This is really

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Speaker 1: not a time to be engaging in and without knowing speculation,

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Speaker 1: making sure that people have appropriate financial, legitimate help. But

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Speaker 1: I think the most impactful thing is really nurturing their families,

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Speaker 1: nurturing friends and communities, and building those extra resources into

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Speaker 1: terms of safety nets of food and things that just

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Speaker 1: make us make that whole survival mentality calm, and then

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Speaker 1: we're able to come up with better ideas. You know,

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Speaker 1: one fascinating thing that you know, when we're really engaged

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Speaker 1: in fear, which of course is so easy everywhere we

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Speaker 1: turn today, the lower part of our brain, that reptilian brain,

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Speaker 1: is the only part that can really activate. And when

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Speaker 1: we start, you know, feeling connected by all the amazing

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Speaker 1: abundance that around us, the higher neo cortex starts to

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Speaker 1: get activated, and all of a sudden, the possibilities and

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Speaker 1: the probabilities that are waiting for us become apparent. So

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Speaker 1: it's amazing how quickly we can make the shift. Listen

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Speaker 1: to more Coast to Coast AM every weeknight at one

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Speaker 1: am Eastern and go to Coast to Coast am dot

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Speaker 1: com for more