1 00:00:00,040 --> 00:00:02,559 Speaker 1: Hello, and welcome to another episode of the Markmas Show 2 00:00:02,759 --> 00:00:06,040 Speaker 1: where we talk about the decentralized revolution. We're talking about 3 00:00:06,040 --> 00:00:09,240 Speaker 1: the world changing before very eyes. And of course I 4 00:00:09,320 --> 00:00:11,440 Speaker 1: try to bring to you each and every week, you know, 5 00:00:12,039 --> 00:00:15,440 Speaker 1: some of the latest breaking news, some education to change 6 00:00:15,480 --> 00:00:18,040 Speaker 1: the way you think about things, and some exciting guests, 7 00:00:18,079 --> 00:00:20,400 Speaker 1: so you don't just have to hear from me all 8 00:00:20,440 --> 00:00:24,239 Speaker 1: the time. It's important to get different perspectives. And I 9 00:00:24,280 --> 00:00:26,720 Speaker 1: want to talk about some of the latest breaking news 10 00:00:26,760 --> 00:00:30,480 Speaker 1: this week that's driving not just the markets and the 11 00:00:30,480 --> 00:00:31,680 Speaker 1: reason why I like to look at this through the 12 00:00:31,760 --> 00:00:35,560 Speaker 1: lens of politics, finance, and technology. As you you really 13 00:00:35,640 --> 00:00:39,960 Speaker 1: can't separate the three. You can't separate the three. Politics 14 00:00:40,000 --> 00:00:44,720 Speaker 1: and economics are tied to each other. Um, the the 15 00:00:44,840 --> 00:00:48,080 Speaker 1: drivers of the economy. It's it shouldn't it shouldn't be 16 00:00:48,200 --> 00:00:51,360 Speaker 1: this way. Uh. I don't want it to be this way. 17 00:00:51,560 --> 00:00:55,520 Speaker 1: I wanted to end, but it is what it is. UM. 18 00:00:55,920 --> 00:00:59,000 Speaker 1: With investing, the saying is that you don't invest in 19 00:00:59,040 --> 00:01:01,720 Speaker 1: the markets as you think they should be, as you 20 00:01:01,880 --> 00:01:05,240 Speaker 1: want them to be, but rather as they are. I'm 21 00:01:05,280 --> 00:01:10,120 Speaker 1: on a mission to separate money and money in the state. 22 00:01:10,959 --> 00:01:14,480 Speaker 1: The state should not be using money for politics. Money 23 00:01:14,560 --> 00:01:17,440 Speaker 1: is money, that's that's that's my life energy. I save that. 24 00:01:18,600 --> 00:01:21,440 Speaker 1: But unfortunately, we're in a very political environment. Um. And 25 00:01:21,480 --> 00:01:25,280 Speaker 1: today I didn't want to get into this rant, but 26 00:01:25,319 --> 00:01:27,920 Speaker 1: I'll talk about it for a second today. Uh, here 27 00:01:27,959 --> 00:01:32,000 Speaker 1: we are facing midterm elections next week, and you have 28 00:01:32,120 --> 00:01:36,280 Speaker 1: politicians out there basically trying to buy votes. So they 29 00:01:36,319 --> 00:01:39,959 Speaker 1: have their own agendas. Uh, there's all types of measures 30 00:01:39,959 --> 00:01:42,320 Speaker 1: and things that they want to put through rules, regulations 31 00:01:42,319 --> 00:01:43,920 Speaker 1: that are on their own agenda. But at the same time, 32 00:01:44,360 --> 00:01:48,600 Speaker 1: they're also buying votes. So for example, um, the Student 33 00:01:48,640 --> 00:01:52,320 Speaker 1: Forgiveness Act or whatever they're calling it. Um, it's a 34 00:01:52,360 --> 00:01:56,600 Speaker 1: way to buy votes every time they hand out some 35 00:01:56,640 --> 00:01:58,280 Speaker 1: sort of a favor, some type of money, that's the 36 00:01:58,320 --> 00:02:00,720 Speaker 1: way to buy votes. And it does doesn't matter which 37 00:02:00,760 --> 00:02:02,960 Speaker 1: side of the aisle you're on, red or blue, left 38 00:02:03,000 --> 00:02:07,720 Speaker 1: or right, doesn't matter. No politician will ever get elected 39 00:02:09,040 --> 00:02:12,600 Speaker 1: promising to repeal that or take money away from you. 40 00:02:13,240 --> 00:02:17,799 Speaker 1: And the problem is is that it creates massive problems 41 00:02:17,960 --> 00:02:21,200 Speaker 1: in our world, in our economy. You cannot create money 42 00:02:21,200 --> 00:02:23,680 Speaker 1: from thin air. You can't just print money. You can't 43 00:02:23,720 --> 00:02:25,680 Speaker 1: just create money from thin air and give it to people, 44 00:02:26,240 --> 00:02:28,800 Speaker 1: because all you do is create more problems. They've printed 45 00:02:29,120 --> 00:02:32,839 Speaker 1: because the government cannot stay within their means because they're 46 00:02:32,880 --> 00:02:37,079 Speaker 1: constantly spending more than they've bring in through tax revenues. 47 00:02:37,680 --> 00:02:40,800 Speaker 1: Then they are constantly spending deficit spending, as it's called 48 00:02:41,040 --> 00:02:43,120 Speaker 1: you here, every year we have to raise the debt 49 00:02:43,200 --> 00:02:45,240 Speaker 1: ceiling again, they have to take more and more debt, 50 00:02:46,360 --> 00:02:49,520 Speaker 1: and so they're literally paying for your college, or for 51 00:02:49,680 --> 00:02:53,000 Speaker 1: your house, or now to subsidize your electricity bill or 52 00:02:53,000 --> 00:02:56,320 Speaker 1: your gas bill or for whatever fill in the blank. 53 00:02:56,840 --> 00:03:00,480 Speaker 1: And they're doing that by taking on more debt. When 54 00:03:00,520 --> 00:03:03,760 Speaker 1: they take on more debt expands the monetary system. When 55 00:03:03,760 --> 00:03:08,280 Speaker 1: they expand the monetary system, it causes inflation. What inflation 56 00:03:08,360 --> 00:03:12,120 Speaker 1: really is is debasement. Your dollars buy less and less goods. 57 00:03:12,200 --> 00:03:16,440 Speaker 1: The reason why everything gets more expensive is because the 58 00:03:16,480 --> 00:03:21,760 Speaker 1: existing dollars in an existance by less and less goods. 59 00:03:21,840 --> 00:03:24,520 Speaker 1: So it's great that they're trying to do nice things. 60 00:03:25,240 --> 00:03:28,720 Speaker 1: It's great that they're helping people out through difficult times. 61 00:03:28,919 --> 00:03:32,959 Speaker 1: It's great that, um they're offsetting people's crazy electric bills 62 00:03:33,120 --> 00:03:35,920 Speaker 1: or gas bills. They need that help. We need to 63 00:03:35,920 --> 00:03:39,880 Speaker 1: help people. But why are the gas bills and electricity 64 00:03:39,880 --> 00:03:43,000 Speaker 1: bills so expensive. Oh, that's because it's the government. Because 65 00:03:43,000 --> 00:03:45,720 Speaker 1: they printed so much money. So it gets into this 66 00:03:45,880 --> 00:03:49,560 Speaker 1: doom loop where they expand the monetary base, it debases 67 00:03:49,600 --> 00:03:52,200 Speaker 1: the currency, which means the prices of goods and services 68 00:03:52,200 --> 00:03:56,160 Speaker 1: are more expensive now because things have gotten so expensive, 69 00:03:56,400 --> 00:04:00,200 Speaker 1: they have to help people with those expenses. Now. They 70 00:04:00,280 --> 00:04:03,120 Speaker 1: do that through creating more money, which then makes the 71 00:04:03,120 --> 00:04:05,640 Speaker 1: goods and services even more expensive than they have to 72 00:04:05,640 --> 00:04:07,320 Speaker 1: help them even more, so we have to print even 73 00:04:07,320 --> 00:04:11,360 Speaker 1: more money. It's a very very dangerous situation. And we 74 00:04:11,360 --> 00:04:14,200 Speaker 1: can sit here for days or weeks or months talking 75 00:04:14,200 --> 00:04:21,680 Speaker 1: about all the ways it destroys our society. Today. Let's 76 00:04:21,720 --> 00:04:25,240 Speaker 1: just take our health. For example, the number one cause 77 00:04:25,320 --> 00:04:29,279 Speaker 1: of death in the United States is heart disease, and 78 00:04:29,320 --> 00:04:32,840 Speaker 1: that heart disease is being caused by what you eat, 79 00:04:33,680 --> 00:04:37,760 Speaker 1: the garbage you eat, and that is because of the 80 00:04:37,800 --> 00:04:42,760 Speaker 1: monetary system that we have today. That that's that's probably scrapped, 81 00:04:42,800 --> 00:04:45,560 Speaker 1: that's probably drawn from some crazy straws. Right mark, where 82 00:04:45,720 --> 00:04:48,560 Speaker 1: what are you talking about? You're saying that the monetary 83 00:04:48,560 --> 00:04:51,839 Speaker 1: system is cause of of heart disease, Yes, I am. 84 00:04:51,880 --> 00:04:55,479 Speaker 1: And the reason why is because as they continue to 85 00:04:55,520 --> 00:04:58,400 Speaker 1: create so much money it can it debases the money 86 00:04:58,400 --> 00:05:00,280 Speaker 1: makes your dollars by less and less, which than means 87 00:05:00,320 --> 00:05:04,200 Speaker 1: the price of goods goes up. Now, if you make food, 88 00:05:04,920 --> 00:05:07,400 Speaker 1: you try, you have to deal with all the price 89 00:05:07,440 --> 00:05:09,719 Speaker 1: of your inputs going up. My grain went up, my 90 00:05:09,839 --> 00:05:13,200 Speaker 1: processing went up, my delivery, everything went up. And so 91 00:05:13,279 --> 00:05:16,200 Speaker 1: in order in order to offset all the prices everything 92 00:05:16,200 --> 00:05:19,360 Speaker 1: going up, me as a business, I have to figure 93 00:05:19,360 --> 00:05:22,240 Speaker 1: out how to make things cheaper. In order to make 94 00:05:22,360 --> 00:05:27,240 Speaker 1: things cheaper, I then about good quality stuff for cheaper 95 00:05:27,320 --> 00:05:30,960 Speaker 1: quality stuff. Instead of using real sugar or use any 96 00:05:31,000 --> 00:05:34,160 Speaker 1: of the other hundred variations of sugar today which are 97 00:05:34,240 --> 00:05:38,000 Speaker 1: all worse for you, instead of using real butter or 98 00:05:38,120 --> 00:05:41,320 Speaker 1: lard or fat, I'm going to use all these seed oils. 99 00:05:42,320 --> 00:05:46,200 Speaker 1: And I'm doing that to offset the inflation that's being 100 00:05:46,279 --> 00:05:50,920 Speaker 1: caused by the debasement of the monetary system. And whailah, 101 00:05:51,120 --> 00:05:53,400 Speaker 1: now we've made all this horrible food that is now 102 00:05:54,000 --> 00:05:59,520 Speaker 1: killing people literally. So yes, it breaks down society. House 103 00:05:59,520 --> 00:06:02,720 Speaker 1: does it break on society? Well, what's the number one 104 00:06:02,800 --> 00:06:07,440 Speaker 1: cause of divorce? Money problems? So, because the cost of 105 00:06:07,480 --> 00:06:09,839 Speaker 1: goods are going up so fast, I can't keep my 106 00:06:09,920 --> 00:06:13,160 Speaker 1: head above water. My wife and I are constantly fighting 107 00:06:13,240 --> 00:06:18,159 Speaker 1: over money, we get divorced, or because fifty years ago, 108 00:06:18,320 --> 00:06:20,520 Speaker 1: it would just take one person in the household to 109 00:06:20,600 --> 00:06:22,880 Speaker 1: work and you can achieve the American dream. You could 110 00:06:22,880 --> 00:06:24,880 Speaker 1: own a house, you could own a car, etcetera. You 111 00:06:24,920 --> 00:06:28,640 Speaker 1: could have kids, the whole thing. Now two parents have 112 00:06:28,760 --> 00:06:32,400 Speaker 1: to work in the household. So that means now they're 113 00:06:32,520 --> 00:06:35,680 Speaker 1: both working and in relationships. You either grow together you 114 00:06:35,680 --> 00:06:39,440 Speaker 1: grow apart, and so now people are working in separate fields. 115 00:06:39,960 --> 00:06:42,360 Speaker 1: The kids aren't being intended to, the households not being 116 00:06:42,400 --> 00:06:44,760 Speaker 1: intended to, you still can't keep your head above water. 117 00:06:44,920 --> 00:06:47,680 Speaker 1: You can't take vacations, You grow apart, You fight, and 118 00:06:47,680 --> 00:06:52,160 Speaker 1: then you get divorced. Now we have you know, uh, 119 00:06:52,640 --> 00:06:56,240 Speaker 1: kids growing up in one parent households all over the country. 120 00:06:56,400 --> 00:06:58,960 Speaker 1: The numbers are going through the roof, and it all 121 00:06:59,000 --> 00:07:02,400 Speaker 1: goes back to the monetary system because the government prints 122 00:07:02,440 --> 00:07:04,480 Speaker 1: too much money. Now. The reason why I say this 123 00:07:04,520 --> 00:07:06,640 Speaker 1: is because here we are going to this election cycle 124 00:07:07,240 --> 00:07:12,600 Speaker 1: and knowing how bad this is, knowing how it destroys 125 00:07:12,680 --> 00:07:15,280 Speaker 1: the very fabric or for society, it ruins our health, 126 00:07:16,400 --> 00:07:21,280 Speaker 1: knowing that we should try to get back off of 127 00:07:21,320 --> 00:07:24,680 Speaker 1: that somehow we should probably try to get back closer 128 00:07:24,720 --> 00:07:28,280 Speaker 1: to a budget. But the problem is when you're over spending, 129 00:07:28,320 --> 00:07:30,120 Speaker 1: all this stuff is spending, and now you need to 130 00:07:30,160 --> 00:07:33,120 Speaker 1: spend less to get back on under a budget. That 131 00:07:33,160 --> 00:07:38,200 Speaker 1: means you have to cut something. Unfortunately, some spending is 132 00:07:38,200 --> 00:07:41,360 Speaker 1: going to have to get cut. But what which spending 133 00:07:41,360 --> 00:07:44,480 Speaker 1: gets cut? And it doesn't matter, It doesn't matter which 134 00:07:44,520 --> 00:07:46,840 Speaker 1: spending is. Someone's going to be unhappy about it. And 135 00:07:46,920 --> 00:07:50,360 Speaker 1: so which politician is ever going to come into power 136 00:07:50,680 --> 00:07:54,000 Speaker 1: saying we're gonna cut spending. None, No one's ever going 137 00:07:54,080 --> 00:07:56,560 Speaker 1: to vote for that. The only way you vote for 138 00:07:56,600 --> 00:07:58,960 Speaker 1: him is if they promised to give you more money, 139 00:07:59,480 --> 00:08:01,880 Speaker 1: Like well, let's just forgive all the student loan. It 140 00:08:01,960 --> 00:08:05,560 Speaker 1: sounds great, Sure, let's vote for it. But at what cost, 141 00:08:06,800 --> 00:08:11,720 Speaker 1: at the cost of expanding the debt, expand the monetary system, 142 00:08:11,880 --> 00:08:16,920 Speaker 1: or debasing the monetary system, or more inflation. The Inflation 143 00:08:16,960 --> 00:08:19,240 Speaker 1: Reduction Act is a perfect example of it. They name 144 00:08:19,280 --> 00:08:23,280 Speaker 1: it the Inflation Reduction Act to reduce inflation, but how 145 00:08:23,880 --> 00:08:27,720 Speaker 1: by printing a bunch of more money, which is the 146 00:08:27,800 --> 00:08:31,000 Speaker 1: problem that caused it in the first place. You see 147 00:08:31,000 --> 00:08:33,560 Speaker 1: the insanity here, And so here we are um, like 148 00:08:33,600 --> 00:08:36,480 Speaker 1: I said, going into the midterm elections, not talking about 149 00:08:36,520 --> 00:08:39,960 Speaker 1: which side of the aisle. In my opinion, both sides 150 00:08:40,840 --> 00:08:45,040 Speaker 1: want to print more money both sides. Maybe the Republicans 151 00:08:45,040 --> 00:08:47,280 Speaker 1: want to spend a little bit less than the Democrats do, 152 00:08:47,600 --> 00:08:49,440 Speaker 1: or maybe they just want to spend it in different places. 153 00:08:50,440 --> 00:08:53,839 Speaker 1: In that regard, when it comes to monetary policy, they're 154 00:08:53,920 --> 00:08:56,800 Speaker 1: both as bad. They both want to spend more money. 155 00:08:57,280 --> 00:08:59,720 Speaker 1: Obama spent more than any president before him, Trump spent 156 00:08:59,720 --> 00:09:01,920 Speaker 1: more than any president before him, and Biden spending more 157 00:09:01,920 --> 00:09:04,800 Speaker 1: money in than any president before him as well. And 158 00:09:04,840 --> 00:09:06,720 Speaker 1: that's the real problem. I got a lot more to 159 00:09:06,960 --> 00:09:09,839 Speaker 1: cover when it comes to breaking news. Kind of went 160 00:09:09,840 --> 00:09:11,439 Speaker 1: off on a tangent right there. If you're just tuning in, 161 00:09:11,520 --> 00:09:14,200 Speaker 1: you're listening to the Mark ma Show. We're talking about 162 00:09:14,240 --> 00:09:17,000 Speaker 1: the decentralized revolution, how the world is changing through the 163 00:09:17,040 --> 00:09:19,839 Speaker 1: lens of politics, finance, and technology. I want to get 164 00:09:19,880 --> 00:09:22,080 Speaker 1: into the technology piece and what's going on with that 165 00:09:22,160 --> 00:09:24,880 Speaker 1: this week, specifically with bitcoin and cryptocurrencies. I'll be back 166 00:09:24,920 --> 00:09:26,960 Speaker 1: with that and more in a minute. Don't go away, 167 00:09:27,000 --> 00:09:29,480 Speaker 1: I'll we're back, all right, Welcome back. You are listening 168 00:09:29,520 --> 00:09:32,800 Speaker 1: to the Mark mo Show. We're talking about the decentralized revolution, 169 00:09:32,840 --> 00:09:35,400 Speaker 1: talking about the way the world is changing as we 170 00:09:35,400 --> 00:09:38,240 Speaker 1: look at it through the lens of politics, finance, and technology. 171 00:09:38,320 --> 00:09:40,800 Speaker 1: I don't like to talk about politics for politics sake, 172 00:09:41,160 --> 00:09:47,360 Speaker 1: but where politics and finance and technology converge, that's very interesting, 173 00:09:47,360 --> 00:09:49,720 Speaker 1: and of course they get more and more intertwined every day. 174 00:09:50,040 --> 00:09:53,520 Speaker 1: This week we saw the Federal Reserve, the central Bank 175 00:09:53,600 --> 00:09:55,600 Speaker 1: of the United States, the most powerful central bank in 176 00:09:55,600 --> 00:09:57,880 Speaker 1: the world. The head of that central bank, Jerome Powell, 177 00:09:58,400 --> 00:10:01,559 Speaker 1: came out and talked to the people with the f 178 00:10:01,760 --> 00:10:05,679 Speaker 1: O m C meeting this week. The insanity that we 179 00:10:05,760 --> 00:10:09,680 Speaker 1: all sit around waiting for a banker to come out 180 00:10:10,040 --> 00:10:16,160 Speaker 1: and tell us what fate we have. Will your retirement 181 00:10:16,240 --> 00:10:20,240 Speaker 1: account crash or will it hold stable. Will your house 182 00:10:20,760 --> 00:10:23,160 Speaker 1: that you live in with your family will it drop 183 00:10:23,240 --> 00:10:27,640 Speaker 1: by or will it go up in value? Will your 184 00:10:27,679 --> 00:10:30,640 Speaker 1: business be able to stay in business because you have 185 00:10:30,679 --> 00:10:32,640 Speaker 1: customers and you can afford your debt, or will your 186 00:10:32,679 --> 00:10:36,880 Speaker 1: business go out of business? Your entire life is in 187 00:10:36,960 --> 00:10:39,839 Speaker 1: the balance of what Jerome Powe and the Phollow Reserve 188 00:10:39,880 --> 00:10:44,800 Speaker 1: decides to say. The insanity of that should just infuriate you, 189 00:10:44,960 --> 00:10:47,880 Speaker 1: infuriates me, but it's the world that we live in 190 00:10:47,880 --> 00:10:48,920 Speaker 1: and we have to deal with it. And so they 191 00:10:48,920 --> 00:10:54,000 Speaker 1: met this week and Jerome Powell basically said, UM, it's 192 00:10:54,040 --> 00:10:56,440 Speaker 1: not looking good for you, buddy. I'm sorry to tell you, 193 00:10:57,120 --> 00:11:01,320 Speaker 1: but we have to make you broke in order to 194 00:11:01,440 --> 00:11:04,360 Speaker 1: save you. That's what he's saying. It's not that that's 195 00:11:04,360 --> 00:11:07,439 Speaker 1: not the exact words that he said. Um. But they 196 00:11:07,480 --> 00:11:09,840 Speaker 1: came out they raised interest rates some more of another 197 00:11:09,960 --> 00:11:13,640 Speaker 1: point seven five percentage points onto the Fed funds rate, 198 00:11:13,640 --> 00:11:17,160 Speaker 1: which is the price of money. Most people don't think 199 00:11:17,160 --> 00:11:19,400 Speaker 1: about it, but you buy money. If I want to 200 00:11:19,400 --> 00:11:20,959 Speaker 1: get a house, it's a hundred thousand dollars. I don't 201 00:11:20,960 --> 00:11:22,400 Speaker 1: have a hundred thous dollars. I need to go buy 202 00:11:22,400 --> 00:11:24,240 Speaker 1: the money. I have to buy the hundred thousand for 203 00:11:24,280 --> 00:11:27,440 Speaker 1: the house. The cost of buying that hundred thousand dollars 204 00:11:27,520 --> 00:11:30,400 Speaker 1: is the interest rate I pay. And the Fed sets 205 00:11:30,440 --> 00:11:33,319 Speaker 1: that interest rate, and they've raised it now another point 206 00:11:33,400 --> 00:11:35,719 Speaker 1: seven five percentage points, or what we call seventy five 207 00:11:35,760 --> 00:11:39,160 Speaker 1: basis points. And as they continue to do that, as 208 00:11:39,160 --> 00:11:41,200 Speaker 1: they continue to bring the price of money up, it 209 00:11:41,240 --> 00:11:46,400 Speaker 1: continues to bring the stock and asset prices down. Now 210 00:11:46,520 --> 00:11:48,959 Speaker 1: it's important to kind of understand what's going on here 211 00:11:48,960 --> 00:11:56,520 Speaker 1: a little bit because they hate you. I say that jokingly, 212 00:11:56,520 --> 00:11:57,920 Speaker 1: but I actually kind of mean it. And what do 213 00:11:57,960 --> 00:12:04,640 Speaker 1: I mean by that? They are trying to bring down inflation. 214 00:12:04,760 --> 00:12:07,680 Speaker 1: They're trying to bring down the rate at which goods 215 00:12:07,679 --> 00:12:12,520 Speaker 1: and services are going higher. Now, there's two ways to 216 00:12:12,559 --> 00:12:19,920 Speaker 1: bring prices down, right, ad supply or crush demand. And 217 00:12:20,120 --> 00:12:23,480 Speaker 1: uh they you know, they can't print more money. I mean, 218 00:12:23,480 --> 00:12:26,200 Speaker 1: they can't print more oil or more food. So all 219 00:12:26,240 --> 00:12:29,200 Speaker 1: they can do is crush demand. And that's what their 220 00:12:29,200 --> 00:12:32,480 Speaker 1: goal is. They're trying to crush demand. So we know this, 221 00:12:32,720 --> 00:12:36,560 Speaker 1: They've said it over and over and over. And you 222 00:12:36,720 --> 00:12:40,280 Speaker 1: having a job, You're having a job that pays you 223 00:12:40,360 --> 00:12:42,959 Speaker 1: more money to keep up with the price of goods 224 00:12:42,960 --> 00:12:46,160 Speaker 1: going up in services is in direct conflict with what 225 00:12:46,200 --> 00:12:51,040 Speaker 1: they want. That's a problem for them. They want unemployment 226 00:12:51,120 --> 00:12:53,280 Speaker 1: to go up. They want less people working, and they 227 00:12:53,320 --> 00:12:56,760 Speaker 1: want more people working for lower wages. Because if your 228 00:12:56,760 --> 00:12:58,520 Speaker 1: employer has to pay you more money than your employer 229 00:12:58,520 --> 00:13:01,480 Speaker 1: has to charge more money for the services, which pushes 230 00:13:01,640 --> 00:13:07,520 Speaker 1: inflation up. They want to crush the economy. They want 231 00:13:07,559 --> 00:13:12,280 Speaker 1: to make you poor to offset the bad decisions that 232 00:13:12,320 --> 00:13:15,439 Speaker 1: they've made. So he came out this week he said 233 00:13:15,800 --> 00:13:17,800 Speaker 1: a couple of things. There was three things that he 234 00:13:17,840 --> 00:13:21,000 Speaker 1: said that that kind of got my attention. He said 235 00:13:21,040 --> 00:13:24,080 Speaker 1: that one, it's very premature to think about a pause 236 00:13:24,400 --> 00:13:27,920 Speaker 1: in our interest rate hiking cycle. So hey, we're gonna 237 00:13:27,960 --> 00:13:30,079 Speaker 1: keep raising rates. I know that the whole world is 238 00:13:30,080 --> 00:13:33,440 Speaker 1: about to crash. I know your your retirement account and 239 00:13:33,480 --> 00:13:36,760 Speaker 1: your house is getting hammered. I know that two thirds 240 00:13:36,760 --> 00:13:39,960 Speaker 1: of businesses aren't able to keep up with their rent payments. 241 00:13:40,840 --> 00:13:44,560 Speaker 1: I know that, But we need to keep doing more. 242 00:13:44,840 --> 00:13:47,880 Speaker 1: We need to cause a recession because if we make 243 00:13:47,960 --> 00:13:52,120 Speaker 1: everybody broke, then they'll stop driving as much, so stop 244 00:13:52,160 --> 00:13:53,920 Speaker 1: going out to eat as much, will stop taking as 245 00:13:53,920 --> 00:13:56,840 Speaker 1: many vacations. And if they stop doing all those things 246 00:13:56,840 --> 00:14:01,240 Speaker 1: because they're so broke, then eventually the prices come back down. Congratulations, 247 00:14:01,960 --> 00:14:05,040 Speaker 1: we brought the price of goods and services down by 248 00:14:05,080 --> 00:14:07,480 Speaker 1: making you broke. That's what they're trying to do. The 249 00:14:07,520 --> 00:14:12,760 Speaker 1: second thing, he said, here higher for longer. So everyone's 250 00:14:12,800 --> 00:14:16,240 Speaker 1: waiting when will the Fed get off of this? When 251 00:14:16,280 --> 00:14:18,440 Speaker 1: will they pivot? And he says, we're going to keep 252 00:14:18,559 --> 00:14:20,680 Speaker 1: at it. We're gonna keep at it. But here's the 253 00:14:20,720 --> 00:14:22,960 Speaker 1: other thing. This thing, this is what actually got me here. 254 00:14:23,520 --> 00:14:27,320 Speaker 1: He said that quote prudent risk management suggests the risk 255 00:14:27,360 --> 00:14:31,440 Speaker 1: of doing too little or higher than doing too much. 256 00:14:31,920 --> 00:14:34,560 Speaker 1: So he said, if we were too overtighten, then we 257 00:14:34,560 --> 00:14:38,880 Speaker 1: could use our tools later to support the economy. So 258 00:14:38,920 --> 00:14:42,880 Speaker 1: what he's saying is they're not worried about breaking the economy, 259 00:14:43,240 --> 00:14:46,680 Speaker 1: crashing your business, putting you out of business, losing your job. 260 00:14:46,800 --> 00:14:50,480 Speaker 1: They're not worried about that. They'd rather do that because 261 00:14:50,520 --> 00:14:53,720 Speaker 1: I'll just they could just fix it later. Now that's 262 00:14:53,760 --> 00:14:56,120 Speaker 1: cool for them, What about for you? Is that cool 263 00:14:56,160 --> 00:14:58,360 Speaker 1: for you? If you lose your job, you lose your house, 264 00:14:58,560 --> 00:15:01,920 Speaker 1: your retirement dropped, it is that cool for you? It's 265 00:15:01,920 --> 00:15:05,040 Speaker 1: not cool for me. Now. One bright spot is bitcoin. 266 00:15:05,520 --> 00:15:08,239 Speaker 1: It seems like with all this bad news after that announcement, 267 00:15:08,800 --> 00:15:12,400 Speaker 1: the price of stocks crashed um. But bitcoin seems to 268 00:15:12,400 --> 00:15:14,800 Speaker 1: be holding on like a boss man. But it's like 269 00:15:15,000 --> 00:15:17,040 Speaker 1: it's found this level. It's been here for a couple 270 00:15:17,080 --> 00:15:20,400 Speaker 1: of months. It's right at this level, and it seems 271 00:15:20,440 --> 00:15:24,080 Speaker 1: that it's finally starting to break apart from the stock market. 272 00:15:24,160 --> 00:15:26,840 Speaker 1: So bitcoin has been trading like a like a NASDAC 273 00:15:26,880 --> 00:15:29,800 Speaker 1: stock like a tech stock, it has correlation. It's called 274 00:15:29,800 --> 00:15:32,240 Speaker 1: a tight correlation. But we've seen is that it's been 275 00:15:32,320 --> 00:15:36,760 Speaker 1: closely correlated with tech stocks for much of two but 276 00:15:36,880 --> 00:15:38,600 Speaker 1: now it's breaking. As a matter of fact, in the 277 00:15:38,640 --> 00:15:42,120 Speaker 1: last thirty days, UM, the correlation with the Nasdaq has 278 00:15:42,160 --> 00:15:46,040 Speaker 1: slid to zero point to six, which is the lowest 279 00:15:46,080 --> 00:15:50,160 Speaker 1: we've seen since January. Now, a measure of one says 280 00:15:50,160 --> 00:15:53,640 Speaker 1: they're moving perfectly in lock step. So we're at zero 281 00:15:53,680 --> 00:15:57,440 Speaker 1: point to six, which is very low. UM. So it's 282 00:15:57,440 --> 00:16:00,480 Speaker 1: looking good now. It was at point nine six in May, 283 00:16:01,240 --> 00:16:04,000 Speaker 1: but now it's breaking apart. So as the Fed continues 284 00:16:04,040 --> 00:16:07,160 Speaker 1: to get more hawkish, as we've seen earnings come out 285 00:16:07,200 --> 00:16:12,000 Speaker 1: this week where meta Facebook got completely smashed, Amazon could 286 00:16:12,040 --> 00:16:17,440 Speaker 1: got completely smashed down, or more bitcoin is held on. 287 00:16:17,640 --> 00:16:19,680 Speaker 1: Bitcoin hasn't gone down a matter of fact, Bitcoin has 288 00:16:19,720 --> 00:16:22,520 Speaker 1: gone up a little bit. And the and the correlation 289 00:16:22,640 --> 00:16:25,560 Speaker 1: with stocks is really breaking out. And what we've seen 290 00:16:26,000 --> 00:16:30,120 Speaker 1: is that bitcoin continues to overperform. We saw this week, 291 00:16:30,600 --> 00:16:33,640 Speaker 1: UM lots of news coming out with bitcoin. One of 292 00:16:33,640 --> 00:16:35,600 Speaker 1: the things we saw this week is that if we 293 00:16:35,600 --> 00:16:39,440 Speaker 1: look at the transaction volume, the bitcoin annual transfer volume 294 00:16:39,680 --> 00:16:43,200 Speaker 1: and we compare it to like another payment network like 295 00:16:43,320 --> 00:16:46,680 Speaker 1: Visa or like MasterCard. How much are they transferring, what's 296 00:16:46,680 --> 00:16:48,680 Speaker 1: their payment volume? And what we can see is that 297 00:16:48,800 --> 00:16:52,520 Speaker 1: the payment volume for bitcoin is going through the roof. 298 00:16:52,560 --> 00:16:55,720 Speaker 1: And to put this into kind of some numbers, between 299 00:16:55,840 --> 00:16:59,280 Speaker 1: eighteen nineteen and twenty, for four years there it was 300 00:16:59,320 --> 00:17:03,600 Speaker 1: in the two um trillion dollar range per year two 301 00:17:03,600 --> 00:17:07,720 Speaker 1: point one, two point seven, two point three, dropped to 302 00:17:07,800 --> 00:17:10,040 Speaker 1: one point nine, but it was in the two trillion 303 00:17:10,160 --> 00:17:16,199 Speaker 1: range for four years in a row. Thirteen trillion two 304 00:17:16,280 --> 00:17:20,639 Speaker 1: year to date fourteen trillion, So for four years in 305 00:17:20,680 --> 00:17:23,639 Speaker 1: a row, two trillion, two trillion, two trillion, and then 306 00:17:23,640 --> 00:17:27,840 Speaker 1: it went to thirteen trillion from two to thirteen last year. 307 00:17:27,960 --> 00:17:30,960 Speaker 1: This year, fourteen trillion year to date, probably end up 308 00:17:31,000 --> 00:17:33,280 Speaker 1: over fifteen trillion by the time the year is done. 309 00:17:33,760 --> 00:17:37,119 Speaker 1: And so we're seeing it hold up when the markets 310 00:17:37,119 --> 00:17:40,000 Speaker 1: are crashing. We're seeing it become one correlated and we're 311 00:17:40,000 --> 00:17:46,000 Speaker 1: seeing the network grow. That's massively bullish. It's good news 312 00:17:46,480 --> 00:17:49,359 Speaker 1: in the time when the entire market is bearished. If 313 00:17:49,359 --> 00:17:51,040 Speaker 1: you're just tune in, you're listening to the Markma Show, 314 00:17:51,040 --> 00:17:53,440 Speaker 1: we're talking about the decentralized revolution, talking about the way 315 00:17:53,480 --> 00:17:55,720 Speaker 1: the world is changing as we look at through the 316 00:17:55,760 --> 00:17:59,120 Speaker 1: lens of politics, finance, and technology, and we're talking about 317 00:17:59,160 --> 00:18:02,600 Speaker 1: bitcoin right now and how it's doing. How's the bitcoin 318 00:18:02,720 --> 00:18:04,600 Speaker 1: doing at a time with the market's crashing. Ware back 319 00:18:04,600 --> 00:18:06,360 Speaker 1: with more in a minute. Don't go away. Well we're back, 320 00:18:06,840 --> 00:18:08,600 Speaker 1: all right, Welcome back. If you're just tuning in, you're 321 00:18:08,600 --> 00:18:10,600 Speaker 1: listening to the Mark Moa show where we talk about 322 00:18:10,600 --> 00:18:14,480 Speaker 1: the decentralized revolution. We're talking about the technology piece. We're 323 00:18:14,480 --> 00:18:18,120 Speaker 1: talking about the politics side, the financial side, the technology side. 324 00:18:18,119 --> 00:18:21,360 Speaker 1: We talked about them all. And of course we're talking 325 00:18:21,359 --> 00:18:23,520 Speaker 1: about the FED overtightening and what they're doing to the 326 00:18:23,520 --> 00:18:27,120 Speaker 1: markets and how bitcoin seems to be holding up pretty 327 00:18:27,160 --> 00:18:30,840 Speaker 1: well in the face of that adversity. Now, um, we 328 00:18:30,920 --> 00:18:33,560 Speaker 1: talked about how the the annual transfer volum has been 329 00:18:33,560 --> 00:18:36,359 Speaker 1: going up. Some other things that we can see is 330 00:18:37,000 --> 00:18:40,080 Speaker 1: because bitcoin is so much different than any other asset 331 00:18:40,119 --> 00:18:41,560 Speaker 1: that we've ever seen in the history of the world. 332 00:18:41,640 --> 00:18:45,800 Speaker 1: One of those things that gives a difference is um 333 00:18:46,040 --> 00:18:50,880 Speaker 1: the visibility, the transparency, and so everything that sits on 334 00:18:50,920 --> 00:18:54,000 Speaker 1: the bitcoin blockchain is transparent. We can see it. We 335 00:18:54,040 --> 00:18:57,560 Speaker 1: can see where the coins are when they move things 336 00:18:57,600 --> 00:19:00,400 Speaker 1: like that. What we can see is that we can 337 00:19:00,400 --> 00:19:07,080 Speaker 1: see UM at which price were the coins moved last. 338 00:19:07,600 --> 00:19:11,399 Speaker 1: So for example, if I bought bitcoin today at I 339 00:19:11,440 --> 00:19:15,520 Speaker 1: transferred it to my cold storage and it sat there 340 00:19:15,640 --> 00:19:20,439 Speaker 1: for whatever the next ten years, then through on chain data, 341 00:19:20,960 --> 00:19:24,680 Speaker 1: we could see that this bitcoin moved to this wallet 342 00:19:25,480 --> 00:19:28,040 Speaker 1: um at this price at and it's sat there for 343 00:19:28,040 --> 00:19:32,600 Speaker 1: ten years or twenty now. It's it's uh. The bitcoin 344 00:19:32,680 --> 00:19:36,760 Speaker 1: network is not private because we can see this. It's transparent, 345 00:19:36,800 --> 00:19:39,760 Speaker 1: it's not private, but it's anonymous. So what does that mean. 346 00:19:40,880 --> 00:19:44,280 Speaker 1: It's it's not private. We can see the bitcoin moving 347 00:19:44,280 --> 00:19:46,240 Speaker 1: on the blockchain when it moved to that last address, 348 00:19:46,280 --> 00:19:50,480 Speaker 1: but it's private. We don't know who owns that address, right, 349 00:19:50,720 --> 00:19:52,399 Speaker 1: so it's a little bit different there. But what we 350 00:19:52,400 --> 00:19:54,399 Speaker 1: can see when we look at this data is we 351 00:19:54,440 --> 00:19:57,359 Speaker 1: can see that UM. We can see we can see 352 00:19:57,440 --> 00:20:01,640 Speaker 1: how long the bitcoin have sat there at which price point. 353 00:20:01,640 --> 00:20:04,040 Speaker 1: And what we can see when looking at a chart 354 00:20:04,160 --> 00:20:07,120 Speaker 1: right now, is that we can see bitcoin is actually 355 00:20:07,160 --> 00:20:12,440 Speaker 1: becoming a reserve asset. And we can say that quantitatively 356 00:20:13,040 --> 00:20:16,080 Speaker 1: um were not qualitatively, but quantitatively we can see that 357 00:20:16,119 --> 00:20:19,920 Speaker 1: because what we can see is that UM each cycle. 358 00:20:20,720 --> 00:20:23,960 Speaker 1: As bitcoin continues to mature and get bigger and bigger 359 00:20:23,960 --> 00:20:28,199 Speaker 1: and bigger, the floor and the ceiling and bitcoin have 360 00:20:28,320 --> 00:20:31,880 Speaker 1: been have been held for the long term one plus year. 361 00:20:31,920 --> 00:20:34,880 Speaker 1: So bitcoin that's being held for at least one year 362 00:20:34,880 --> 00:20:37,800 Speaker 1: and not moving is getting more and more and more. 363 00:20:38,280 --> 00:20:42,080 Speaker 1: So we saw, you know, before bitcoin, a lot of 364 00:20:42,080 --> 00:20:43,719 Speaker 1: people were coming in and buying bitcoin. They are being 365 00:20:43,760 --> 00:20:46,359 Speaker 1: trading it, right, so they're they're new people, they've just 366 00:20:46,400 --> 00:20:48,720 Speaker 1: come in. Maybe this was you. You just came into bitcoin. 367 00:20:48,800 --> 00:20:50,560 Speaker 1: You're buying it, you're selling it. You buy bitcoin, you 368 00:20:50,560 --> 00:20:52,400 Speaker 1: sell your buy etherory and your sells hearing. You buy 369 00:20:52,840 --> 00:20:55,679 Speaker 1: h cardano, you sell cardano, you buy x y z token, 370 00:20:55,720 --> 00:20:58,040 Speaker 1: et cetera. And you're buying, you're trading blah blah blah 371 00:20:58,040 --> 00:21:00,600 Speaker 1: blah blah. But now what we're seeing in this bitcoin 372 00:21:00,640 --> 00:21:04,119 Speaker 1: that's been sitting for at least one year, that's a holder. 373 00:21:04,200 --> 00:21:08,280 Speaker 1: We call that a hoddler. They're holding it. They're hoddling 374 00:21:08,359 --> 00:21:10,800 Speaker 1: it for what, well, that's their reserve, it's their savings. 375 00:21:10,840 --> 00:21:13,439 Speaker 1: They're there, they're saving it for the long term. And 376 00:21:13,480 --> 00:21:15,679 Speaker 1: what we can see is that the amount of bitcoins 377 00:21:15,720 --> 00:21:19,920 Speaker 1: held for at least one year has only increased. It 378 00:21:19,960 --> 00:21:22,320 Speaker 1: is getting higher and higher and higher, and so that 379 00:21:22,480 --> 00:21:28,000 Speaker 1: is super bullish, super super bullish UM. And we can 380 00:21:28,040 --> 00:21:31,719 Speaker 1: also see at these levels where we're at UM, in 381 00:21:31,720 --> 00:21:37,040 Speaker 1: this twenty range UM, it's providing a base or support. 382 00:21:37,080 --> 00:21:40,080 Speaker 1: So what we can see is that investors love their 383 00:21:40,080 --> 00:21:43,800 Speaker 1: ability to accumulate at this cost basis. I've talked about 384 00:21:43,840 --> 00:21:46,639 Speaker 1: this many times before. UM at this price point, in 385 00:21:46,640 --> 00:21:50,960 Speaker 1: this you know, twenty dollar price point, it's a it's 386 00:21:51,080 --> 00:21:54,560 Speaker 1: it's under levels that would tell us it's cheap. Now 387 00:21:54,600 --> 00:21:58,320 Speaker 1: we don't know. Nobody knows, will never know a bottom 388 00:21:58,400 --> 00:21:59,800 Speaker 1: or a top, so a lot of people is the 389 00:22:00,000 --> 00:22:02,800 Speaker 1: out We don't know until we're looking backwards and we 390 00:22:02,840 --> 00:22:06,200 Speaker 1: can confirm where that bottom is. What we can tell 391 00:22:06,680 --> 00:22:09,920 Speaker 1: is when things are cheap or when things are expensive. Now, 392 00:22:09,960 --> 00:22:13,480 Speaker 1: just because it's cheap doesn't mean that it can't get 393 00:22:13,520 --> 00:22:17,880 Speaker 1: more cheap. It can, but it's cheap right now. Anytime 394 00:22:17,880 --> 00:22:21,040 Speaker 1: it's been under this level, it's gone on to be 395 00:22:21,160 --> 00:22:24,000 Speaker 1: a historic buy an opportunity. The last two times we've 396 00:22:24,000 --> 00:22:26,000 Speaker 1: seen bitcoin get to this level, we've seen it rally 397 00:22:27,480 --> 00:22:30,520 Speaker 1: and off of that, and that's where it's at. It's 398 00:22:30,520 --> 00:22:34,840 Speaker 1: been trading for about five months in this range where 399 00:22:34,840 --> 00:22:38,640 Speaker 1: it's at right now, and anytime it dips below this level, 400 00:22:38,640 --> 00:22:41,640 Speaker 1: it just gets bought up really really, really fast. And 401 00:22:42,040 --> 00:22:46,640 Speaker 1: even as it's getting hammered by the FED drone power 402 00:22:46,720 --> 00:22:48,520 Speaker 1: coming out and saying we're going to break the markets, 403 00:22:48,760 --> 00:22:52,040 Speaker 1: we'd rather break it and fix it later. Stocks are 404 00:22:52,080 --> 00:22:55,720 Speaker 1: dropping and Bitcoin is holding on extremely extremely embarished, and 405 00:22:55,720 --> 00:22:59,320 Speaker 1: I'm sorry bullish, And of course it's bullish because not 406 00:22:59,359 --> 00:23:00,840 Speaker 1: only do we have that port, but we have all 407 00:23:00,840 --> 00:23:02,720 Speaker 1: of this data. Like I said, we can see that 408 00:23:02,760 --> 00:23:06,440 Speaker 1: the hoddlers are gaining steam. We saw this week Fidelity 409 00:23:06,720 --> 00:23:09,359 Speaker 1: with Larger, one of the largest asset managers in the world, 410 00:23:10,280 --> 00:23:14,200 Speaker 1: and they've been um very pro bitcoin for a long time, 411 00:23:14,240 --> 00:23:18,680 Speaker 1: pro cryptocurrency, and they opened up this week a waiting 412 00:23:18,760 --> 00:23:22,560 Speaker 1: list for their retail crypto products. So Fidelity has been 413 00:23:22,720 --> 00:23:24,719 Speaker 1: in bitcoin for a long time. They have been mining bitcoin, 414 00:23:24,760 --> 00:23:30,919 Speaker 1: I want to say since maybe for a long time. Um. 415 00:23:31,119 --> 00:23:34,280 Speaker 1: Then they opened it up for their institutional clients, and 416 00:23:34,359 --> 00:23:37,000 Speaker 1: now finally they're opening up well, they've opened up a 417 00:23:37,000 --> 00:23:42,200 Speaker 1: waiting list for retail crypto product. It says that according 418 00:23:42,200 --> 00:23:45,479 Speaker 1: to Fidelities website, the new product will offer commission free 419 00:23:45,480 --> 00:23:49,520 Speaker 1: Bitcoin and ethereum trading, although it notes that I spread 420 00:23:49,600 --> 00:23:52,720 Speaker 1: up to one percent will be charged, so UM commission 421 00:23:52,840 --> 00:23:57,679 Speaker 1: free bitcoin and ether trading. So there's all types of 422 00:23:57,720 --> 00:24:00,520 Speaker 1: exchanges where you can go trade your cryptocurrencies, which by 423 00:24:00,520 --> 00:24:04,000 Speaker 1: the way, I don't recommend UM. I spent years and 424 00:24:04,080 --> 00:24:08,200 Speaker 1: years and years trading and running trading groups, and unfortunately 425 00:24:08,280 --> 00:24:10,320 Speaker 1: most people just lose their money. And even if you 426 00:24:10,320 --> 00:24:13,760 Speaker 1: don't lose your money, you could probably spend that time 427 00:24:13,800 --> 00:24:16,960 Speaker 1: somewhere better off. But it's expensive. Every single time you 428 00:24:17,000 --> 00:24:18,959 Speaker 1: make a trade, it costs you money, which is why 429 00:24:19,000 --> 00:24:21,119 Speaker 1: there's all these exchanges that make all this money, because 430 00:24:21,119 --> 00:24:23,720 Speaker 1: every time you trade, whether you win or lose, they 431 00:24:23,760 --> 00:24:27,000 Speaker 1: make money. And so Fidelity, according to them on their website, 432 00:24:27,880 --> 00:24:31,359 Speaker 1: Learning New Product will offer commission free bitcoin ethereum trading, 433 00:24:31,359 --> 00:24:33,840 Speaker 1: which is a pretty big deal. You have to understand. 434 00:24:33,840 --> 00:24:35,760 Speaker 1: Like I said, they're already one of the largest asset managers. 435 00:24:35,800 --> 00:24:40,359 Speaker 1: People already have their money parked there. It says Fidelities 436 00:24:40,400 --> 00:24:44,080 Speaker 1: moved to target the retail market, follows a wider trend 437 00:24:44,200 --> 00:24:48,600 Speaker 1: across crypto with banking giant Goldman sacks I in a 438 00:24:48,680 --> 00:24:52,439 Speaker 1: collaboration with retail focused crypto Exchange f t X, so 439 00:24:52,560 --> 00:24:56,080 Speaker 1: Goldman Sacks. If you don't know which, come on, you know. 440 00:24:56,280 --> 00:24:59,760 Speaker 1: But if you don't know, Goldman Sacks is, I mean, 441 00:25:00,000 --> 00:25:02,679 Speaker 1: they're they're the most connected bank out there, them in 442 00:25:02,720 --> 00:25:04,800 Speaker 1: black Rock right there, kind of one and one with 443 00:25:04,840 --> 00:25:06,680 Speaker 1: the government in the in the in the funnel reserve, 444 00:25:07,800 --> 00:25:10,480 Speaker 1: and all of these banks are rushing to get in 445 00:25:10,640 --> 00:25:13,240 Speaker 1: and create bitcoin products. And this is one thing that 446 00:25:13,280 --> 00:25:15,080 Speaker 1: makes me super bullish on the fact that I don't 447 00:25:15,080 --> 00:25:17,880 Speaker 1: think the government the United States will try to make 448 00:25:17,920 --> 00:25:22,080 Speaker 1: it illegal. The laws of the United States are typically 449 00:25:22,119 --> 00:25:25,440 Speaker 1: made by lobbyists, and they're written by lobbyists and then 450 00:25:25,440 --> 00:25:27,600 Speaker 1: they're given to lawmakers who then just signed their name 451 00:25:27,600 --> 00:25:31,239 Speaker 1: at it and the lobby The lobbyists are made up 452 00:25:31,240 --> 00:25:33,159 Speaker 1: of all different types of industry groups obviously depend on 453 00:25:33,160 --> 00:25:35,040 Speaker 1: what they're trying to lobby, but the banking or actually 454 00:25:35,080 --> 00:25:37,919 Speaker 1: say the finance industry is one of the largest lobby 455 00:25:37,960 --> 00:25:44,160 Speaker 1: groups there is. And now we've seen finality Goldman Sacks 456 00:25:44,160 --> 00:25:49,000 Speaker 1: and the largest financial institutions there are bring on bitcoin products. 457 00:25:50,200 --> 00:25:52,200 Speaker 1: And in order for someone like the Goldman Sacks to 458 00:25:52,240 --> 00:25:54,680 Speaker 1: bring on a bitcoin product, they could spend hundreds of 459 00:25:54,720 --> 00:25:59,280 Speaker 1: millions if not billions of dollars with partnerships and sponsorships 460 00:25:59,320 --> 00:26:02,320 Speaker 1: and staff and compliance and regulatory and all these things. 461 00:26:03,119 --> 00:26:05,359 Speaker 1: And so now we have all the financial institutions that 462 00:26:05,359 --> 00:26:09,680 Speaker 1: have now moved into the bitcoin space, and they're going 463 00:26:09,720 --> 00:26:12,200 Speaker 1: to just let the government make it illegal and they're 464 00:26:12,240 --> 00:26:15,639 Speaker 1: just gonna lose billions and billions of dollars. But remember 465 00:26:15,640 --> 00:26:17,720 Speaker 1: who makes the laws with the lobby groups make the law. 466 00:26:17,760 --> 00:26:19,800 Speaker 1: So are they going to make laws making it illegal 467 00:26:19,840 --> 00:26:21,840 Speaker 1: for them to use and make money in the businesses 468 00:26:21,840 --> 00:26:24,159 Speaker 1: that they've developed. I think the chance of that is 469 00:26:24,240 --> 00:26:28,280 Speaker 1: very slim. Now it's possible, Everything is possible, but it's 470 00:26:28,320 --> 00:26:32,240 Speaker 1: certainly not my base case. I think the banks, the 471 00:26:32,240 --> 00:26:36,680 Speaker 1: financial institutions will not be putting forward those bills. If 472 00:26:36,720 --> 00:26:39,320 Speaker 1: those bills are put forward, they'll probably push back on 473 00:26:39,359 --> 00:26:43,280 Speaker 1: those bills. We also have dozens of high ranking senators 474 00:26:43,640 --> 00:26:47,080 Speaker 1: and politicians um that are pro bitcoin. And then we 475 00:26:47,160 --> 00:26:52,199 Speaker 1: have potentially twenty five million Americans that own it that 476 00:26:52,280 --> 00:26:55,080 Speaker 1: also wouldn't be very happy and would certainly be fighting 477 00:26:55,080 --> 00:26:58,040 Speaker 1: back and voting against that as well. So these are 478 00:26:58,040 --> 00:27:02,080 Speaker 1: the things that make me bullish. Why we won't see um, 479 00:27:02,119 --> 00:27:04,120 Speaker 1: you know, the government trying to make it illegal anytime soon. 480 00:27:04,280 --> 00:27:06,120 Speaker 1: If you're just tuning in, you're listening to the Markma Show. 481 00:27:06,160 --> 00:27:08,520 Speaker 1: We're talking about the decentralized Revolution, talking about the way 482 00:27:08,560 --> 00:27:10,879 Speaker 1: the world is changing. Of course, as we look at 483 00:27:10,880 --> 00:27:15,600 Speaker 1: through lens of politics, finance, and technology, the technology being bitcoin, 484 00:27:16,520 --> 00:27:20,119 Speaker 1: decentralized technology, it's always technology the changes the world, and 485 00:27:20,160 --> 00:27:22,160 Speaker 1: we can see it happening right now at a time 486 00:27:22,160 --> 00:27:25,720 Speaker 1: when the US dollar value of bitcoin is still kind 487 00:27:25,720 --> 00:27:29,520 Speaker 1: of down, it's holding on, showing signs of breaking out. 488 00:27:30,119 --> 00:27:31,960 Speaker 1: And these are the reasons why. I'll be back with 489 00:27:31,960 --> 00:27:33,760 Speaker 1: more in a minute. Don't go away, I'll be right back. 490 00:27:34,240 --> 00:27:36,040 Speaker 1: All right, Welcome back. You are listening to the Mark 491 00:27:36,160 --> 00:27:40,400 Speaker 1: Ma Show talking about the decentralized Revolution. We're running through 492 00:27:40,440 --> 00:27:44,800 Speaker 1: some of the biggest news going around this week, and uh, 493 00:27:45,040 --> 00:27:47,760 Speaker 1: looking at it through that lens. Remember, politics, finance, and 494 00:27:47,760 --> 00:27:51,040 Speaker 1: technology is always technology that changes the world, and we 495 00:27:51,119 --> 00:27:55,840 Speaker 1: are seeing this right now. There's a big, big, big, 496 00:27:55,880 --> 00:28:00,720 Speaker 1: big story that's been um dominating mainstream media for a while. 497 00:28:01,680 --> 00:28:05,080 Speaker 1: Uh probably I think since April or May of two, 498 00:28:05,119 --> 00:28:07,560 Speaker 1: but it all came to a head this week and 499 00:28:07,640 --> 00:28:11,679 Speaker 1: I am talking about the world's richest man, Elon Musk 500 00:28:12,040 --> 00:28:16,480 Speaker 1: taking over I don't know, maybe one of the largest 501 00:28:17,000 --> 00:28:19,720 Speaker 1: social media platforms in the world, and that is Twitter. 502 00:28:19,880 --> 00:28:21,879 Speaker 1: Of course, you know by now that Musk bought Twitter, 503 00:28:22,200 --> 00:28:26,280 Speaker 1: he took a possession of it last Friday, and uh, 504 00:28:26,600 --> 00:28:31,000 Speaker 1: there's a lot of information going around about that. Um, 505 00:28:31,040 --> 00:28:35,760 Speaker 1: a lot of information that I think is wrong. I 506 00:28:35,800 --> 00:28:38,800 Speaker 1: think it's focusing on the wrong thing. And so, um, 507 00:28:38,880 --> 00:28:42,360 Speaker 1: what we see all over the place is it's a 508 00:28:42,440 --> 00:28:45,280 Speaker 1: threat to our democracy. It's a threat to our democracy. 509 00:28:45,440 --> 00:28:48,360 Speaker 1: He's going to let all these mean things be said online. 510 00:28:48,400 --> 00:28:51,959 Speaker 1: Blah blah blah blah blah. Now why would people even 511 00:28:52,000 --> 00:28:54,880 Speaker 1: say that in the first place, Well, they would say 512 00:28:54,880 --> 00:28:59,160 Speaker 1: that because Twitter has been censoring people so harsh and 513 00:28:59,320 --> 00:29:05,280 Speaker 1: so fast, been so strong that Um, now must said 514 00:29:05,320 --> 00:29:08,160 Speaker 1: that he wants to allow freedom of speech, you know 515 00:29:08,280 --> 00:29:12,440 Speaker 1: that thing that we're guaranteed by our constitution, the freedom 516 00:29:12,480 --> 00:29:15,120 Speaker 1: of speech. Um, he wants to allow people to have 517 00:29:15,200 --> 00:29:17,400 Speaker 1: free speech. And so instantly it's going to become a 518 00:29:17,480 --> 00:29:20,960 Speaker 1: cesspool and of horror where people are gonna say all 519 00:29:20,960 --> 00:29:22,840 Speaker 1: these mean things. I mean, it's just insanity. And somehow 520 00:29:22,840 --> 00:29:25,400 Speaker 1: that's going to be a threat to our democracy, which 521 00:29:25,440 --> 00:29:28,120 Speaker 1: is even more insane First of all, we don't have 522 00:29:28,160 --> 00:29:30,680 Speaker 1: a democracy. Just so you know that we don't have 523 00:29:30,720 --> 00:29:35,040 Speaker 1: a democracy. What we have is a republic. If you've 524 00:29:35,480 --> 00:29:37,880 Speaker 1: if you've said the Pledge of allegiance in school like 525 00:29:38,000 --> 00:29:40,600 Speaker 1: I grew up saying, then you would know when you 526 00:29:40,600 --> 00:29:42,040 Speaker 1: put your hand over the heart and you said, and 527 00:29:42,160 --> 00:29:47,280 Speaker 1: to the republic for which it stands. Remember that when 528 00:29:47,320 --> 00:29:52,680 Speaker 1: Benjamin Franklin walked out of was it see what I'm 529 00:29:52,720 --> 00:29:55,040 Speaker 1: drawn a blank on the name. When after they signed 530 00:29:55,040 --> 00:29:57,480 Speaker 1: the Declaration of Independence they signed the constitution, he walked 531 00:29:57,480 --> 00:29:59,600 Speaker 1: out and they said, hey, what happened? He said, well, 532 00:29:59,680 --> 00:30:02,840 Speaker 1: congre adulations. You have a republic if you can keep it. 533 00:30:03,720 --> 00:30:05,880 Speaker 1: We don't have a democracy with republic. But what is 534 00:30:05,920 --> 00:30:11,000 Speaker 1: a democracy anyway? And a democracy is rule of the people, 535 00:30:12,080 --> 00:30:14,640 Speaker 1: of the common people, not of the elite, but of 536 00:30:14,640 --> 00:30:18,600 Speaker 1: the common people. So there's no threat to democracy. The 537 00:30:18,720 --> 00:30:22,160 Speaker 1: threat to the democracy is not allowing the common people 538 00:30:22,240 --> 00:30:25,400 Speaker 1: to be heard. That's a threat to the democracy. Remember 539 00:30:25,480 --> 00:30:31,040 Speaker 1: a democracy. If you look it up the definition, Um, 540 00:30:31,080 --> 00:30:33,000 Speaker 1: I'm gonna I'm gonna look it up right now because 541 00:30:33,040 --> 00:30:35,239 Speaker 1: I want to read it to you factually. So if 542 00:30:35,240 --> 00:30:41,920 Speaker 1: we have it right here, uh, government by the people 543 00:30:42,040 --> 00:30:46,000 Speaker 1: exercised either directly or through elected representatives. So the government 544 00:30:46,000 --> 00:30:50,680 Speaker 1: by the people exercised through representatives. Um, And it says 545 00:30:51,240 --> 00:30:56,080 Speaker 1: the common people considered as the primary source of political power. 546 00:30:56,160 --> 00:30:59,720 Speaker 1: So the common people, you and I were common we 547 00:30:59,800 --> 00:31:03,080 Speaker 1: are supposed to have the power. It says, uh, the 548 00:31:03,080 --> 00:31:06,920 Speaker 1: principles and policies of the Democratic Party the common people, 549 00:31:07,160 --> 00:31:11,600 Speaker 1: especially when constituting the source of political authority. So so 550 00:31:12,200 --> 00:31:15,480 Speaker 1: all political authority is supposed to come from the common people, 551 00:31:15,720 --> 00:31:18,480 Speaker 1: from you and I. And in order for UM, the 552 00:31:18,480 --> 00:31:20,720 Speaker 1: political authority to come from you and I, then our 553 00:31:20,800 --> 00:31:22,719 Speaker 1: voice have to be heard. And how do I how 554 00:31:22,800 --> 00:31:25,200 Speaker 1: is our voice heard? Well, that's heard through free speech. 555 00:31:25,560 --> 00:31:28,400 Speaker 1: If you're censoring half of the people in the world, 556 00:31:28,800 --> 00:31:32,600 Speaker 1: that's not democracy, it says here point number five. The 557 00:31:32,680 --> 00:31:38,440 Speaker 1: absence of hereditary or arbitrary class distinctions or privileges. So 558 00:31:38,680 --> 00:31:43,000 Speaker 1: this is not UM, some arbitrary group that's defined of 559 00:31:43,040 --> 00:31:47,280 Speaker 1: these elites, these elites that run these platforms, these elites 560 00:31:47,320 --> 00:31:52,640 Speaker 1: that fact check us. No, it's the common people. And 561 00:31:52,720 --> 00:31:57,000 Speaker 1: just because you don't like the common people, let's says 562 00:31:57,040 --> 00:32:00,440 Speaker 1: here the common people of a community as distinguished so 563 00:32:00,560 --> 00:32:05,800 Speaker 1: different from any privileged class so just because you don't 564 00:32:05,840 --> 00:32:07,920 Speaker 1: like what they have to say, it doesn't matter. It's 565 00:32:08,000 --> 00:32:10,880 Speaker 1: the democracy would be having hurt. Now again, we're in 566 00:32:10,880 --> 00:32:13,360 Speaker 1: a republic, not democracy. But the fact that Elon must 567 00:32:13,360 --> 00:32:15,800 Speaker 1: wants to allow us to have free speech un democracy 568 00:32:15,840 --> 00:32:19,400 Speaker 1: is is a complete uh scam. Anyway, that's at the 569 00:32:19,400 --> 00:32:20,960 Speaker 1: point of what I'm talking about. The point I'm talking 570 00:32:20,960 --> 00:32:23,160 Speaker 1: about is that well sort of is right. It's the 571 00:32:23,240 --> 00:32:26,840 Speaker 1: it's the convergence of politics, finance, and technology, and so 572 00:32:26,920 --> 00:32:34,760 Speaker 1: politically this is a very charged topic. Politically, Um, it's 573 00:32:34,920 --> 00:32:38,280 Speaker 1: charged in the finance because obviously it's a forty four 574 00:32:38,440 --> 00:32:41,880 Speaker 1: billion dollar deal, publicly traded company, richest man in the world, 575 00:32:41,960 --> 00:32:45,120 Speaker 1: bravery deal, but also technology. And that's the point that 576 00:32:45,160 --> 00:32:46,680 Speaker 1: I want to get to the real story here. I 577 00:32:46,720 --> 00:32:48,920 Speaker 1: broke this on my YouTube channel. You can check out 578 00:32:48,960 --> 00:32:51,760 Speaker 1: my YouTube channel just search Mark Moss on YouTube. And 579 00:32:51,800 --> 00:32:53,640 Speaker 1: I really went deep into the research on this one 580 00:32:53,640 --> 00:32:57,360 Speaker 1: and we looked at what why did Elon Musk really 581 00:32:57,400 --> 00:32:59,000 Speaker 1: buy Twitter? And I'm not gonna go through the whole thing. 582 00:32:59,040 --> 00:33:01,840 Speaker 1: You can go watch the video if you want, but 583 00:33:01,920 --> 00:33:06,040 Speaker 1: you have to understand, um, what Elon Musk said, Why 584 00:33:06,200 --> 00:33:09,120 Speaker 1: he said, why he's buying it. He said, he's doing 585 00:33:09,160 --> 00:33:12,640 Speaker 1: it for humanity. But you also have to look at 586 00:33:12,640 --> 00:33:15,240 Speaker 1: where he got his start, and he got his start 587 00:33:16,280 --> 00:33:24,320 Speaker 1: at PayPal, and I believe that was in his partner, 588 00:33:24,760 --> 00:33:28,080 Speaker 1: co founder Peter thiel Um put out a video which 589 00:33:28,120 --> 00:33:30,720 Speaker 1: I used in my intube video where he said that, hey, 590 00:33:30,800 --> 00:33:34,640 Speaker 1: we see that the rise of Internet enabled phones is 591 00:33:34,680 --> 00:33:37,240 Speaker 1: going to grow really rapidly, and we think that these 592 00:33:37,280 --> 00:33:40,640 Speaker 1: Internet enabled phones will allow people to move money, and 593 00:33:40,680 --> 00:33:42,640 Speaker 1: they'll be able to move money and they won't need 594 00:33:42,680 --> 00:33:45,240 Speaker 1: the government or the banks to do it, and the 595 00:33:45,240 --> 00:33:47,800 Speaker 1: government of the banks like China, he called out, will 596 00:33:47,880 --> 00:33:51,000 Speaker 1: lose their power. The only way they could stop it 597 00:33:51,040 --> 00:33:53,320 Speaker 1: would be to shut down the Internet and the mobile 598 00:33:53,320 --> 00:33:58,240 Speaker 1: phone networks altogether. This is Peter Theeal PayPal co founder 599 00:33:58,320 --> 00:34:02,560 Speaker 1: back in making a statement, and today that's exactly where 600 00:34:02,600 --> 00:34:08,040 Speaker 1: we're at. Um. Smartphones or Internet enabled phones are basically 601 00:34:08,040 --> 00:34:12,520 Speaker 1: at full adoption. They're almost adoption throughout the world, and 602 00:34:12,600 --> 00:34:15,040 Speaker 1: we have them exactly what he said. The problem is 603 00:34:15,120 --> 00:34:18,080 Speaker 1: they started PayPal to change the financial system, but they 604 00:34:18,360 --> 00:34:21,840 Speaker 1: weren't able to do it, and Elon Musk obviously sold 605 00:34:21,840 --> 00:34:26,520 Speaker 1: out on PayPal, as did Peter feel also PayPal. Also 606 00:34:26,640 --> 00:34:29,239 Speaker 1: Elon Musk and Peter Field originally wanted to call it 607 00:34:29,560 --> 00:34:32,319 Speaker 1: X and Peter and Sorry Musk owned a domain name 608 00:34:33,040 --> 00:34:37,680 Speaker 1: X and in two thousand and seventeen he bought that 609 00:34:37,760 --> 00:34:40,600 Speaker 1: domain name back from PayPal. We don't know how much, 610 00:34:40,680 --> 00:34:43,680 Speaker 1: maybe six or eight million dollars or so um and 611 00:34:43,719 --> 00:34:46,120 Speaker 1: he bought that name back X. Now, when he started 612 00:34:46,160 --> 00:34:50,520 Speaker 1: talking about buying Twitter in May two he made a 613 00:34:50,560 --> 00:34:53,239 Speaker 1: pitch to the investors to the board saying that he 614 00:34:53,280 --> 00:34:56,960 Speaker 1: had an idea to bring a new product to Twitter 615 00:34:58,480 --> 00:35:02,800 Speaker 1: called X that he thinks could bring in hundreds of 616 00:35:02,840 --> 00:35:07,759 Speaker 1: millions of users and create billions of dollars of value. Now, 617 00:35:07,880 --> 00:35:13,720 Speaker 1: what is that X. Well, my theory, my research shows 618 00:35:14,160 --> 00:35:18,680 Speaker 1: is that he started PayPal to change the financial system, 619 00:35:18,719 --> 00:35:22,960 Speaker 1: to change where payments are done because he cares about humanity. 620 00:35:23,360 --> 00:35:25,080 Speaker 1: They weren't able to do it with PayPal, and they 621 00:35:25,160 --> 00:35:28,640 Speaker 1: left PayPal. He went back and bought the ex domain 622 00:35:28,760 --> 00:35:32,399 Speaker 1: name back for them, probably with some hope of reviving 623 00:35:32,440 --> 00:35:36,120 Speaker 1: it at some point to get back to his original mission, which, 624 00:35:36,120 --> 00:35:40,439 Speaker 1: as he said, he bought Twitter Twitter for humanity. Maybe 625 00:35:40,480 --> 00:35:43,799 Speaker 1: he got back to his original vision to help humanity 626 00:35:43,880 --> 00:35:47,239 Speaker 1: through payments. And now it looks like he's assembled some 627 00:35:47,320 --> 00:35:50,360 Speaker 1: of the original PayPal founders, better known as the PayPal Mafia, 628 00:35:50,640 --> 00:35:53,120 Speaker 1: to come back on the board. He's also partnered with 629 00:35:53,400 --> 00:35:56,040 Speaker 1: c Z. He's the founder of Finance, which is one 630 00:35:56,040 --> 00:35:59,280 Speaker 1: of the largest, if not the largest, cryptocurrency trading platforms 631 00:35:59,280 --> 00:36:03,759 Speaker 1: out there. And it looks like the project that he 632 00:36:03,840 --> 00:36:08,800 Speaker 1: pitched to the Twitter investors and shareholders X is coming back, 633 00:36:09,400 --> 00:36:13,000 Speaker 1: and this time it will have payments built into the 634 00:36:13,000 --> 00:36:17,560 Speaker 1: Twitter platform, which could potentially free us from the banking 635 00:36:17,560 --> 00:36:20,960 Speaker 1: institutions that hold us hostage over money. It looks like 636 00:36:21,000 --> 00:36:24,880 Speaker 1: that's what's happening. Um, I'm connecting the dots again. If 637 00:36:24,920 --> 00:36:26,919 Speaker 1: you want to go watch that video, go search Mark 638 00:36:26,960 --> 00:36:29,279 Speaker 1: Moss on YouTube. You can see that. If you're not 639 00:36:29,280 --> 00:36:31,160 Speaker 1: following on social media, you should check me on social 640 00:36:31,160 --> 00:36:33,160 Speaker 1: media as well. You can find me on Twitter and 641 00:36:33,200 --> 00:36:36,040 Speaker 1: Instagram at one Mark Moss. That's just the number one. 642 00:36:36,120 --> 00:36:38,680 Speaker 1: Mark Moss also put out a tweet thread on this 643 00:36:38,760 --> 00:36:40,680 Speaker 1: as well, So if you want to keep up on 644 00:36:40,680 --> 00:36:42,440 Speaker 1: the play to play day by day, make sure to 645 00:36:42,440 --> 00:36:45,279 Speaker 1: follow me on Twitter, Instagram at one Mark Moss um 646 00:36:45,400 --> 00:36:47,400 Speaker 1: check me out on YouTube at Mark Moss. You can 647 00:36:47,400 --> 00:36:49,080 Speaker 1: see the whole video breaking this down. I have all 648 00:36:49,080 --> 00:36:51,960 Speaker 1: the graph the charts, the headlines. I called them the receipts, 649 00:36:53,040 --> 00:36:54,360 Speaker 1: and of course I break down some of this to 650 00:36:54,400 --> 00:36:56,759 Speaker 1: you as well. You're listening to the Mark Mass Show. 651 00:36:56,800 --> 00:36:59,839 Speaker 1: We break down the intersection of politics, finance and technology, 652 00:37:00,200 --> 00:37:02,520 Speaker 1: and that's what I got for you to day. Thanks 653 00:37:02,520 --> 00:37:03,280 Speaker 1: so much for listening.