WEBVTT - The Mark Moss Show Nov 11, 2022 0:00:00.040 --> 0:00:02.559 Hello, and welcome to another episode of the Markmas Show 0:00:02.759 --> 0:00:06.040 where we talk about the decentralized revolution. We're talking about 0:00:06.040 --> 0:00:09.240 the world changing before very eyes. And of course I 0:00:09.320 --> 0:00:11.440 try to bring to you each and every week, you know, 0:00:12.039 --> 0:00:15.440 some of the latest breaking news, some education to change 0:00:15.480 --> 0:00:18.040 the way you think about things, and some exciting guests, 0:00:18.079 --> 0:00:20.400 so you don't just have to hear from me all 0:00:20.440 --> 0:00:24.239 the time. It's important to get different perspectives. And I 0:00:24.280 --> 0:00:26.720 want to talk about some of the latest breaking news 0:00:26.760 --> 0:00:30.480 this week that's driving not just the markets and the 0:00:30.480 --> 0:00:31.680 reason why I like to look at this through the 0:00:31.760 --> 0:00:35.560 lens of politics, finance, and technology. As you you really 0:00:35.640 --> 0:00:39.960 can't separate the three. You can't separate the three. Politics 0:00:40.000 --> 0:00:44.720 and economics are tied to each other. Um, the the 0:00:44.840 --> 0:00:48.080 drivers of the economy. It's it shouldn't it shouldn't be 0:00:48.200 --> 0:00:51.360 this way. Uh. I don't want it to be this way. 0:00:51.560 --> 0:00:55.520 I wanted to end, but it is what it is. UM. 0:00:55.920 --> 0:00:59.000 With investing, the saying is that you don't invest in 0:00:59.040 --> 0:01:01.720 the markets as you think they should be, as you 0:01:01.880 --> 0:01:05.240 want them to be, but rather as they are. I'm 0:01:05.280 --> 0:01:10.120 on a mission to separate money and money in the state. 0:01:10.959 --> 0:01:14.480 The state should not be using money for politics. Money 0:01:14.560 --> 0:01:17.440 is money, that's that's that's my life energy. I save that. 0:01:18.600 --> 0:01:21.440 But unfortunately, we're in a very political environment. Um. And 0:01:21.480 --> 0:01:25.280 today I didn't want to get into this rant, but 0:01:25.319 --> 0:01:27.920 I'll talk about it for a second today. Uh, here 0:01:27.959 --> 0:01:32.000 we are facing midterm elections next week, and you have 0:01:32.120 --> 0:01:36.280 politicians out there basically trying to buy votes. So they 0:01:36.319 --> 0:01:39.959 have their own agendas. Uh, there's all types of measures 0:01:39.959 --> 0:01:42.320 and things that they want to put through rules, regulations 0:01:42.319 --> 0:01:43.920 that are on their own agenda. But at the same time, 0:01:44.360 --> 0:01:48.600 they're also buying votes. So for example, um, the Student 0:01:48.640 --> 0:01:52.320 Forgiveness Act or whatever they're calling it. Um, it's a 0:01:52.360 --> 0:01:56.600 way to buy votes every time they hand out some 0:01:56.640 --> 0:01:58.280 sort of a favor, some type of money, that's the 0:01:58.320 --> 0:02:00.720 way to buy votes. And it does doesn't matter which 0:02:00.760 --> 0:02:02.960 side of the aisle you're on, red or blue, left 0:02:03.000 --> 0:02:07.720 or right, doesn't matter. No politician will ever get elected 0:02:09.040 --> 0:02:12.600 promising to repeal that or take money away from you. 0:02:13.240 --> 0:02:17.799 And the problem is is that it creates massive problems 0:02:17.960 --> 0:02:21.200 in our world, in our economy. You cannot create money 0:02:21.200 --> 0:02:23.680 from thin air. You can't just print money. You can't 0:02:23.720 --> 0:02:25.680 just create money from thin air and give it to people, 0:02:26.240 --> 0:02:28.800 because all you do is create more problems. They've printed 0:02:29.120 --> 0:02:32.839 because the government cannot stay within their means because they're 0:02:32.880 --> 0:02:37.079 constantly spending more than they've bring in through tax revenues. 0:02:37.680 --> 0:02:40.800 Then they are constantly spending deficit spending, as it's called 0:02:41.040 --> 0:02:43.120 you here, every year we have to raise the debt 0:02:43.200 --> 0:02:45.240 ceiling again, they have to take more and more debt, 0:02:46.360 --> 0:02:49.520 and so they're literally paying for your college, or for 0:02:49.680 --> 0:02:53.000 your house, or now to subsidize your electricity bill or 0:02:53.000 --> 0:02:56.320 your gas bill or for whatever fill in the blank. 0:02:56.840 --> 0:03:00.480 And they're doing that by taking on more debt. When 0:03:00.520 --> 0:03:03.760 they take on more debt expands the monetary system. When 0:03:03.760 --> 0:03:08.280 they expand the monetary system, it causes inflation. What inflation 0:03:08.360 --> 0:03:12.120 really is is debasement. Your dollars buy less and less goods. 0:03:12.200 --> 0:03:16.440 The reason why everything gets more expensive is because the 0:03:16.480 --> 0:03:21.760 existing dollars in an existance by less and less goods. 0:03:21.840 --> 0:03:24.520 So it's great that they're trying to do nice things. 0:03:25.240 --> 0:03:28.720 It's great that they're helping people out through difficult times. 0:03:28.919 --> 0:03:32.959 It's great that, um they're offsetting people's crazy electric bills 0:03:33.120 --> 0:03:35.920 or gas bills. They need that help. We need to 0:03:35.920 --> 0:03:39.880 help people. But why are the gas bills and electricity 0:03:39.880 --> 0:03:43.000 bills so expensive. Oh, that's because it's the government. Because 0:03:43.000 --> 0:03:45.720 they printed so much money. So it gets into this 0:03:45.880 --> 0:03:49.560 doom loop where they expand the monetary base, it debases 0:03:49.600 --> 0:03:52.200 the currency, which means the prices of goods and services 0:03:52.200 --> 0:03:56.160 are more expensive now because things have gotten so expensive, 0:03:56.400 --> 0:04:00.200 they have to help people with those expenses. Now. They 0:04:00.280 --> 0:04:03.120 do that through creating more money, which then makes the 0:04:03.120 --> 0:04:05.640 goods and services even more expensive than they have to 0:04:05.640 --> 0:04:07.320 help them even more, so we have to print even 0:04:07.320 --> 0:04:11.360 more money. It's a very very dangerous situation. And we 0:04:11.360 --> 0:04:14.200 can sit here for days or weeks or months talking 0:04:14.200 --> 0:04:21.680 about all the ways it destroys our society. Today. Let's 0:04:21.720 --> 0:04:25.240 just take our health. For example, the number one cause 0:04:25.320 --> 0:04:29.279 of death in the United States is heart disease, and 0:04:29.320 --> 0:04:32.840 that heart disease is being caused by what you eat, 0:04:33.680 --> 0:04:37.760 the garbage you eat, and that is because of the 0:04:37.800 --> 0:04:42.760 monetary system that we have today. That that's that's probably scrapped, 0:04:42.800 --> 0:04:45.560 that's probably drawn from some crazy straws. Right mark, where 0:04:45.720 --> 0:04:48.560 what are you talking about? You're saying that the monetary 0:04:48.560 --> 0:04:51.839 system is cause of of heart disease, Yes, I am. 0:04:51.880 --> 0:04:55.479 And the reason why is because as they continue to 0:04:55.520 --> 0:04:58.400 create so much money it can it debases the money 0:04:58.400 --> 0:05:00.280 makes your dollars by less and less, which than means 0:05:00.320 --> 0:05:04.200 the price of goods goes up. Now, if you make food, 0:05:04.920 --> 0:05:07.400 you try, you have to deal with all the price 0:05:07.440 --> 0:05:09.719 of your inputs going up. My grain went up, my 0:05:09.839 --> 0:05:13.200 processing went up, my delivery, everything went up. And so 0:05:13.279 --> 0:05:16.200 in order in order to offset all the prices everything 0:05:16.200 --> 0:05:19.360 going up, me as a business, I have to figure 0:05:19.360 --> 0:05:22.240 out how to make things cheaper. In order to make 0:05:22.360 --> 0:05:27.240 things cheaper, I then about good quality stuff for cheaper 0:05:27.320 --> 0:05:30.960 quality stuff. Instead of using real sugar or use any 0:05:31.000 --> 0:05:34.160 of the other hundred variations of sugar today which are 0:05:34.240 --> 0:05:38.000 all worse for you, instead of using real butter or 0:05:38.120 --> 0:05:41.320 lard or fat, I'm going to use all these seed oils. 0:05:42.320 --> 0:05:46.200 And I'm doing that to offset the inflation that's being 0:05:46.279 --> 0:05:50.920 caused by the debasement of the monetary system. And whailah, 0:05:51.120 --> 0:05:53.400 now we've made all this horrible food that is now 0:05:54.000 --> 0:05:59.520 killing people literally. So yes, it breaks down society. House 0:05:59.520 --> 0:06:02.720 does it break on society? Well, what's the number one 0:06:02.800 --> 0:06:07.440 cause of divorce? Money problems? So, because the cost of 0:06:07.480 --> 0:06:09.839 goods are going up so fast, I can't keep my 0:06:09.920 --> 0:06:13.160 head above water. My wife and I are constantly fighting 0:06:13.240 --> 0:06:18.159 over money, we get divorced, or because fifty years ago, 0:06:18.320 --> 0:06:20.520 it would just take one person in the household to 0:06:20.600 --> 0:06:22.880 work and you can achieve the American dream. You could 0:06:22.880 --> 0:06:24.880 own a house, you could own a car, etcetera. You 0:06:24.920 --> 0:06:28.640 could have kids, the whole thing. Now two parents have 0:06:28.760 --> 0:06:32.400 to work in the household. So that means now they're 0:06:32.520 --> 0:06:35.680 both working and in relationships. You either grow together you 0:06:35.680 --> 0:06:39.440 grow apart, and so now people are working in separate fields. 0:06:39.960 --> 0:06:42.360 The kids aren't being intended to, the households not being 0:06:42.400 --> 0:06:44.760 intended to, you still can't keep your head above water. 0:06:44.920 --> 0:06:47.680 You can't take vacations, You grow apart, You fight, and 0:06:47.680 --> 0:06:52.160 then you get divorced. Now we have you know, uh, 0:06:52.640 --> 0:06:56.240 kids growing up in one parent households all over the country. 0:06:56.400 --> 0:06:58.960 The numbers are going through the roof, and it all 0:06:59.000 --> 0:07:02.400 goes back to the monetary system because the government prints 0:07:02.440 --> 0:07:04.480 too much money. Now. The reason why I say this 0:07:04.520 --> 0:07:06.640 is because here we are going to this election cycle 0:07:07.240 --> 0:07:12.600 and knowing how bad this is, knowing how it destroys 0:07:12.680 --> 0:07:15.280 the very fabric or for society, it ruins our health, 0:07:16.400 --> 0:07:21.280 knowing that we should try to get back off of 0:07:21.320 --> 0:07:24.680 that somehow we should probably try to get back closer 0:07:24.720 --> 0:07:28.280 to a budget. But the problem is when you're over spending, 0:07:28.320 --> 0:07:30.120 all this stuff is spending, and now you need to 0:07:30.160 --> 0:07:33.120 spend less to get back on under a budget. That 0:07:33.160 --> 0:07:38.200 means you have to cut something. Unfortunately, some spending is 0:07:38.200 --> 0:07:41.360 going to have to get cut. But what which spending 0:07:41.360 --> 0:07:44.480 gets cut? And it doesn't matter, It doesn't matter which 0:07:44.520 --> 0:07:46.840 spending is. Someone's going to be unhappy about it. And 0:07:46.920 --> 0:07:50.360 so which politician is ever going to come into power 0:07:50.680 --> 0:07:54.000 saying we're gonna cut spending. None, No one's ever going 0:07:54.080 --> 0:07:56.560 to vote for that. The only way you vote for 0:07:56.600 --> 0:07:58.960 him is if they promised to give you more money, 0:07:59.480 --> 0:08:01.880 Like well, let's just forgive all the student loan. It 0:08:01.960 --> 0:08:05.560 sounds great, Sure, let's vote for it. But at what cost, 0:08:06.800 --> 0:08:11.720 at the cost of expanding the debt, expand the monetary system, 0:08:11.880 --> 0:08:16.920 or debasing the monetary system, or more inflation. The Inflation 0:08:16.960 --> 0:08:19.240 Reduction Act is a perfect example of it. They name 0:08:19.280 --> 0:08:23.280 it the Inflation Reduction Act to reduce inflation, but how 0:08:23.880 --> 0:08:27.720 by printing a bunch of more money, which is the 0:08:27.800 --> 0:08:31.000 problem that caused it in the first place. You see 0:08:31.000 --> 0:08:33.560 the insanity here, And so here we are um, like 0:08:33.600 --> 0:08:36.480 I said, going into the midterm elections, not talking about 0:08:36.520 --> 0:08:39.960 which side of the aisle. In my opinion, both sides 0:08:40.840 --> 0:08:45.040 want to print more money both sides. Maybe the Republicans 0:08:45.040 --> 0:08:47.280 want to spend a little bit less than the Democrats do, 0:08:47.600 --> 0:08:49.440 or maybe they just want to spend it in different places. 0:08:50.440 --> 0:08:53.839 In that regard, when it comes to monetary policy, they're 0:08:53.920 --> 0:08:56.800 both as bad. They both want to spend more money. 0:08:57.280 --> 0:08:59.720 Obama spent more than any president before him, Trump spent 0:08:59.720 --> 0:09:01.920 more than any president before him, and Biden spending more 0:09:01.920 --> 0:09:04.800 money in than any president before him as well. And 0:09:04.840 --> 0:09:06.720 that's the real problem. I got a lot more to 0:09:06.960 --> 0:09:09.839 cover when it comes to breaking news. Kind of went 0:09:09.840 --> 0:09:11.439 off on a tangent right there. If you're just tuning in, 0:09:11.520 --> 0:09:14.200 you're listening to the Mark ma Show. We're talking about 0:09:14.240 --> 0:09:17.000 the decentralized revolution, how the world is changing through the 0:09:17.040 --> 0:09:19.839 lens of politics, finance, and technology. I want to get 0:09:19.880 --> 0:09:22.080 into the technology piece and what's going on with that 0:09:22.160 --> 0:09:24.880 this week, specifically with bitcoin and cryptocurrencies. I'll be back 0:09:24.920 --> 0:09:26.960 with that and more in a minute. Don't go away, 0:09:27.000 --> 0:09:29.480 I'll we're back, all right, Welcome back. You are listening 0:09:29.520 --> 0:09:32.800 to the Mark mo Show. We're talking about the decentralized revolution, 0:09:32.840 --> 0:09:35.400 talking about the way the world is changing as we 0:09:35.400 --> 0:09:38.240 look at it through the lens of politics, finance, and technology. 0:09:38.320 --> 0:09:40.800 I don't like to talk about politics for politics sake, 0:09:41.160 --> 0:09:47.360 but where politics and finance and technology converge, that's very interesting, 0:09:47.360 --> 0:09:49.720 and of course they get more and more intertwined every day. 0:09:50.040 --> 0:09:53.520 This week we saw the Federal Reserve, the central Bank 0:09:53.600 --> 0:09:55.600 of the United States, the most powerful central bank in 0:09:55.600 --> 0:09:57.880 the world. The head of that central bank, Jerome Powell, 0:09:58.400 --> 0:10:01.559 came out and talked to the people with the f 0:10:01.760 --> 0:10:05.679 O m C meeting this week. The insanity that we 0:10:05.760 --> 0:10:09.680 all sit around waiting for a banker to come out 0:10:10.040 --> 0:10:16.160 and tell us what fate we have. Will your retirement 0:10:16.240 --> 0:10:20.240 account crash or will it hold stable. Will your house 0:10:20.760 --> 0:10:23.160 that you live in with your family will it drop 0:10:23.240 --> 0:10:27.640 by or will it go up in value? Will your 0:10:27.679 --> 0:10:30.640 business be able to stay in business because you have 0:10:30.679 --> 0:10:32.640 customers and you can afford your debt, or will your 0:10:32.679 --> 0:10:36.880 business go out of business? Your entire life is in 0:10:36.960 --> 0:10:39.839 the balance of what Jerome Powe and the Phollow Reserve 0:10:39.880 --> 0:10:44.800 decides to say. The insanity of that should just infuriate you, 0:10:44.960 --> 0:10:47.880 infuriates me, but it's the world that we live in 0:10:47.880 --> 0:10:48.920 and we have to deal with it. And so they 0:10:48.920 --> 0:10:54.000 met this week and Jerome Powell basically said, UM, it's 0:10:54.040 --> 0:10:56.440 not looking good for you, buddy. I'm sorry to tell you, 0:10:57.120 --> 0:11:01.320 but we have to make you broke in order to 0:11:01.440 --> 0:11:04.360 save you. That's what he's saying. It's not that that's 0:11:04.360 --> 0:11:07.439 not the exact words that he said. Um. But they 0:11:07.480 --> 0:11:09.840 came out they raised interest rates some more of another 0:11:09.960 --> 0:11:13.640 point seven five percentage points onto the Fed funds rate, 0:11:13.640 --> 0:11:17.160 which is the price of money. Most people don't think 0:11:17.160 --> 0:11:19.400 about it, but you buy money. If I want to 0:11:19.400 --> 0:11:20.959 get a house, it's a hundred thousand dollars. I don't 0:11:20.960 --> 0:11:22.400 have a hundred thous dollars. I need to go buy 0:11:22.400 --> 0:11:24.240 the money. I have to buy the hundred thousand for 0:11:24.280 --> 0:11:27.440 the house. The cost of buying that hundred thousand dollars 0:11:27.520 --> 0:11:30.400 is the interest rate I pay. And the Fed sets 0:11:30.440 --> 0:11:33.319 that interest rate, and they've raised it now another point 0:11:33.400 --> 0:11:35.719 seven five percentage points, or what we call seventy five 0:11:35.760 --> 0:11:39.160 basis points. And as they continue to do that, as 0:11:39.160 --> 0:11:41.200 they continue to bring the price of money up, it 0:11:41.240 --> 0:11:46.400 continues to bring the stock and asset prices down. Now 0:11:46.520 --> 0:11:48.959 it's important to kind of understand what's going on here 0:11:48.960 --> 0:11:56.520 a little bit because they hate you. I say that jokingly, 0:11:56.520 --> 0:11:57.920 but I actually kind of mean it. And what do 0:11:57.960 --> 0:12:04.640 I mean by that? They are trying to bring down inflation. 0:12:04.760 --> 0:12:07.680 They're trying to bring down the rate at which goods 0:12:07.679 --> 0:12:12.520 and services are going higher. Now, there's two ways to 0:12:12.559 --> 0:12:19.920 bring prices down, right, ad supply or crush demand. And 0:12:20.120 --> 0:12:23.480 uh they you know, they can't print more money. I mean, 0:12:23.480 --> 0:12:26.200 they can't print more oil or more food. So all 0:12:26.240 --> 0:12:29.200 they can do is crush demand. And that's what their 0:12:29.200 --> 0:12:32.480 goal is. They're trying to crush demand. So we know this, 0:12:32.720 --> 0:12:36.560 They've said it over and over and over. And you 0:12:36.720 --> 0:12:40.280 having a job, You're having a job that pays you 0:12:40.360 --> 0:12:42.959 more money to keep up with the price of goods 0:12:42.960 --> 0:12:46.160 going up in services is in direct conflict with what 0:12:46.200 --> 0:12:51.040 they want. That's a problem for them. They want unemployment 0:12:51.120 --> 0:12:53.280 to go up. They want less people working, and they 0:12:53.320 --> 0:12:56.760 want more people working for lower wages. Because if your 0:12:56.760 --> 0:12:58.520 employer has to pay you more money than your employer 0:12:58.520 --> 0:13:01.480 has to charge more money for the services, which pushes 0:13:01.640 --> 0:13:07.520 inflation up. They want to crush the economy. They want 0:13:07.559 --> 0:13:12.280 to make you poor to offset the bad decisions that 0:13:12.320 --> 0:13:15.439 they've made. So he came out this week he said 0:13:15.800 --> 0:13:17.800 a couple of things. There was three things that he 0:13:17.840 --> 0:13:21.000 said that that kind of got my attention. He said 0:13:21.040 --> 0:13:24.080 that one, it's very premature to think about a pause 0:13:24.400 --> 0:13:27.920 in our interest rate hiking cycle. So hey, we're gonna 0:13:27.960 --> 0:13:30.079 keep raising rates. I know that the whole world is 0:13:30.080 --> 0:13:33.440 about to crash. I know your your retirement account and 0:13:33.480 --> 0:13:36.760 your house is getting hammered. I know that two thirds 0:13:36.760 --> 0:13:39.960 of businesses aren't able to keep up with their rent payments. 0:13:40.840 --> 0:13:44.560 I know that, But we need to keep doing more. 0:13:44.840 --> 0:13:47.880 We need to cause a recession because if we make 0:13:47.960 --> 0:13:52.120 everybody broke, then they'll stop driving as much, so stop 0:13:52.160 --> 0:13:53.920 going out to eat as much, will stop taking as 0:13:53.920 --> 0:13:56.840 many vacations. And if they stop doing all those things 0:13:56.840 --> 0:14:01.240 because they're so broke, then eventually the prices come back down. Congratulations, 0:14:01.960 --> 0:14:05.040 we brought the price of goods and services down by 0:14:05.080 --> 0:14:07.480 making you broke. That's what they're trying to do. The 0:14:07.520 --> 0:14:12.760 second thing, he said, here higher for longer. So everyone's 0:14:12.800 --> 0:14:16.240 waiting when will the Fed get off of this? When 0:14:16.280 --> 0:14:18.440 will they pivot? And he says, we're going to keep 0:14:18.559 --> 0:14:20.680 at it. We're gonna keep at it. But here's the 0:14:20.720 --> 0:14:22.960 other thing. This thing, this is what actually got me here. 0:14:23.520 --> 0:14:27.320 He said that quote prudent risk management suggests the risk 0:14:27.360 --> 0:14:31.440 of doing too little or higher than doing too much. 0:14:31.920 --> 0:14:34.560 So he said, if we were too overtighten, then we 0:14:34.560 --> 0:14:38.880 could use our tools later to support the economy. So 0:14:38.920 --> 0:14:42.880 what he's saying is they're not worried about breaking the economy, 0:14:43.240 --> 0:14:46.680 crashing your business, putting you out of business, losing your job. 0:14:46.800 --> 0:14:50.480 They're not worried about that. They'd rather do that because 0:14:50.520 --> 0:14:53.720 I'll just they could just fix it later. Now that's 0:14:53.760 --> 0:14:56.120 cool for them, What about for you? Is that cool 0:14:56.160 --> 0:14:58.360 for you? If you lose your job, you lose your house, 0:14:58.560 --> 0:15:01.920 your retirement dropped, it is that cool for you? It's 0:15:01.920 --> 0:15:05.040 not cool for me. Now. One bright spot is bitcoin. 0:15:05.520 --> 0:15:08.239 It seems like with all this bad news after that announcement, 0:15:08.800 --> 0:15:12.400 the price of stocks crashed um. But bitcoin seems to 0:15:12.400 --> 0:15:14.800 be holding on like a boss man. But it's like 0:15:15.000 --> 0:15:17.040 it's found this level. It's been here for a couple 0:15:17.080 --> 0:15:20.400 of months. It's right at this level, and it seems 0:15:20.440 --> 0:15:24.080 that it's finally starting to break apart from the stock market. 0:15:24.160 --> 0:15:26.840 So bitcoin has been trading like a like a NASDAC 0:15:26.880 --> 0:15:29.800 stock like a tech stock, it has correlation. It's called 0:15:29.800 --> 0:15:32.240 a tight correlation. But we've seen is that it's been 0:15:32.320 --> 0:15:36.760 closely correlated with tech stocks for much of two but 0:15:36.880 --> 0:15:38.600 now it's breaking. As a matter of fact, in the 0:15:38.640 --> 0:15:42.120 last thirty days, UM, the correlation with the Nasdaq has 0:15:42.160 --> 0:15:46.040 slid to zero point to six, which is the lowest 0:15:46.080 --> 0:15:50.160 we've seen since January. Now, a measure of one says 0:15:50.160 --> 0:15:53.640 they're moving perfectly in lock step. So we're at zero 0:15:53.680 --> 0:15:57.440 point to six, which is very low. UM. So it's 0:15:57.440 --> 0:16:00.480 looking good now. It was at point nine six in May, 0:16:01.240 --> 0:16:04.000 but now it's breaking apart. So as the Fed continues 0:16:04.040 --> 0:16:07.160 to get more hawkish, as we've seen earnings come out 0:16:07.200 --> 0:16:12.000 this week where meta Facebook got completely smashed, Amazon could 0:16:12.040 --> 0:16:17.440 got completely smashed down, or more bitcoin is held on. 0:16:17.640 --> 0:16:19.680 Bitcoin hasn't gone down a matter of fact, Bitcoin has 0:16:19.720 --> 0:16:22.520 gone up a little bit. And the and the correlation 0:16:22.640 --> 0:16:25.560 with stocks is really breaking out. And what we've seen 0:16:26.000 --> 0:16:30.120 is that bitcoin continues to overperform. We saw this week, 0:16:30.600 --> 0:16:33.640 UM lots of news coming out with bitcoin. One of 0:16:33.640 --> 0:16:35.600 the things we saw this week is that if we 0:16:35.600 --> 0:16:39.440 look at the transaction volume, the bitcoin annual transfer volume 0:16:39.680 --> 0:16:43.200 and we compare it to like another payment network like 0:16:43.320 --> 0:16:46.680 Visa or like MasterCard. How much are they transferring, what's 0:16:46.680 --> 0:16:48.680 their payment volume? And what we can see is that 0:16:48.800 --> 0:16:52.520 the payment volume for bitcoin is going through the roof. 0:16:52.560 --> 0:16:55.720 And to put this into kind of some numbers, between 0:16:55.840 --> 0:16:59.280 eighteen nineteen and twenty, for four years there it was 0:16:59.320 --> 0:17:03.600 in the two um trillion dollar range per year two 0:17:03.600 --> 0:17:07.720 point one, two point seven, two point three, dropped to 0:17:07.800 --> 0:17:10.040 one point nine, but it was in the two trillion 0:17:10.160 --> 0:17:16.199 range for four years in a row. Thirteen trillion two 0:17:16.280 --> 0:17:20.639 year to date fourteen trillion, So for four years in 0:17:20.680 --> 0:17:23.639 a row, two trillion, two trillion, two trillion, and then 0:17:23.640 --> 0:17:27.840 it went to thirteen trillion from two to thirteen last year. 0:17:27.960 --> 0:17:30.960 This year, fourteen trillion year to date, probably end up 0:17:31.000 --> 0:17:33.280 over fifteen trillion by the time the year is done. 0:17:33.760 --> 0:17:37.119 And so we're seeing it hold up when the markets 0:17:37.119 --> 0:17:40.000 are crashing. We're seeing it become one correlated and we're 0:17:40.000 --> 0:17:46.000 seeing the network grow. That's massively bullish. It's good news 0:17:46.480 --> 0:17:49.359 in the time when the entire market is bearished. If 0:17:49.359 --> 0:17:51.040 you're just tune in, you're listening to the Markma Show, 0:17:51.040 --> 0:17:53.440 we're talking about the decentralized revolution, talking about the way 0:17:53.480 --> 0:17:55.720 the world is changing as we look at through the 0:17:55.760 --> 0:17:59.120 lens of politics, finance, and technology, and we're talking about 0:17:59.160 --> 0:18:02.600 bitcoin right now and how it's doing. How's the bitcoin 0:18:02.720 --> 0:18:04.600 doing at a time with the market's crashing. Ware back 0:18:04.600 --> 0:18:06.360 with more in a minute. Don't go away. Well we're back, 0:18:06.840 --> 0:18:08.600 all right, Welcome back. If you're just tuning in, you're 0:18:08.600 --> 0:18:10.600 listening to the Mark Moa show where we talk about 0:18:10.600 --> 0:18:14.480 the decentralized revolution. We're talking about the technology piece. We're 0:18:14.480 --> 0:18:18.120 talking about the politics side, the financial side, the technology side. 0:18:18.119 --> 0:18:21.360 We talked about them all. And of course we're talking 0:18:21.359 --> 0:18:23.520 about the FED overtightening and what they're doing to the 0:18:23.520 --> 0:18:27.120 markets and how bitcoin seems to be holding up pretty 0:18:27.160 --> 0:18:30.840 well in the face of that adversity. Now, um, we 0:18:30.920 --> 0:18:33.560 talked about how the the annual transfer volum has been 0:18:33.560 --> 0:18:36.359 going up. Some other things that we can see is 0:18:37.000 --> 0:18:40.080 because bitcoin is so much different than any other asset 0:18:40.119 --> 0:18:41.560 that we've ever seen in the history of the world. 0:18:41.640 --> 0:18:45.800 One of those things that gives a difference is um 0:18:46.040 --> 0:18:50.880 the visibility, the transparency, and so everything that sits on 0:18:50.920 --> 0:18:54.000 the bitcoin blockchain is transparent. We can see it. We 0:18:54.040 --> 0:18:57.560 can see where the coins are when they move things 0:18:57.600 --> 0:19:00.400 like that. What we can see is that we can 0:19:00.400 --> 0:19:07.080 see UM at which price were the coins moved last. 0:19:07.600 --> 0:19:11.399 So for example, if I bought bitcoin today at I 0:19:11.440 --> 0:19:15.520 transferred it to my cold storage and it sat there 0:19:15.640 --> 0:19:20.439 for whatever the next ten years, then through on chain data, 0:19:20.960 --> 0:19:24.680 we could see that this bitcoin moved to this wallet 0:19:25.480 --> 0:19:28.040 um at this price at and it's sat there for 0:19:28.040 --> 0:19:32.600 ten years or twenty now. It's it's uh. The bitcoin 0:19:32.680 --> 0:19:36.760 network is not private because we can see this. It's transparent, 0:19:36.800 --> 0:19:39.760 it's not private, but it's anonymous. So what does that mean. 0:19:40.880 --> 0:19:44.280 It's it's not private. We can see the bitcoin moving 0:19:44.280 --> 0:19:46.240 on the blockchain when it moved to that last address, 0:19:46.280 --> 0:19:50.480 but it's private. We don't know who owns that address, right, 0:19:50.720 --> 0:19:52.399 so it's a little bit different there. But what we 0:19:52.400 --> 0:19:54.399 can see when we look at this data is we 0:19:54.440 --> 0:19:57.359 can see that UM. We can see we can see 0:19:57.440 --> 0:20:01.640 how long the bitcoin have sat there at which price point. 0:20:01.640 --> 0:20:04.040 And what we can see when looking at a chart 0:20:04.160 --> 0:20:07.120 right now, is that we can see bitcoin is actually 0:20:07.160 --> 0:20:12.440 becoming a reserve asset. And we can say that quantitatively 0:20:13.040 --> 0:20:16.080 um were not qualitatively, but quantitatively we can see that 0:20:16.119 --> 0:20:19.920 because what we can see is that UM each cycle. 0:20:20.720 --> 0:20:23.960 As bitcoin continues to mature and get bigger and bigger 0:20:23.960 --> 0:20:28.199 and bigger, the floor and the ceiling and bitcoin have 0:20:28.320 --> 0:20:31.880 been have been held for the long term one plus year. 0:20:31.920 --> 0:20:34.880 So bitcoin that's being held for at least one year 0:20:34.880 --> 0:20:37.800 and not moving is getting more and more and more. 0:20:38.280 --> 0:20:42.080 So we saw, you know, before bitcoin, a lot of 0:20:42.080 --> 0:20:43.719 people were coming in and buying bitcoin. They are being 0:20:43.760 --> 0:20:46.359 trading it, right, so they're they're new people, they've just 0:20:46.400 --> 0:20:48.720 come in. Maybe this was you. You just came into bitcoin. 0:20:48.800 --> 0:20:50.560 You're buying it, you're selling it. You buy bitcoin, you 0:20:50.560 --> 0:20:52.400 sell your buy etherory and your sells hearing. You buy 0:20:52.840 --> 0:20:55.679 h cardano, you sell cardano, you buy x y z token, 0:20:55.720 --> 0:20:58.040 et cetera. And you're buying, you're trading blah blah blah 0:20:58.040 --> 0:21:00.600 blah blah. But now what we're seeing in this bitcoin 0:21:00.640 --> 0:21:04.119 that's been sitting for at least one year, that's a holder. 0:21:04.200 --> 0:21:08.280 We call that a hoddler. They're holding it. They're hoddling 0:21:08.359 --> 0:21:10.800 it for what, well, that's their reserve, it's their savings. 0:21:10.840 --> 0:21:13.439 They're there, they're saving it for the long term. And 0:21:13.480 --> 0:21:15.679 what we can see is that the amount of bitcoins 0:21:15.720 --> 0:21:19.920 held for at least one year has only increased. It 0:21:19.960 --> 0:21:22.320 is getting higher and higher and higher, and so that 0:21:22.480 --> 0:21:28.000 is super bullish, super super bullish UM. And we can 0:21:28.040 --> 0:21:31.719 also see at these levels where we're at UM, in 0:21:31.720 --> 0:21:37.040 this twenty range UM, it's providing a base or support. 0:21:37.080 --> 0:21:40.080 So what we can see is that investors love their 0:21:40.080 --> 0:21:43.800 ability to accumulate at this cost basis. I've talked about 0:21:43.840 --> 0:21:46.639 this many times before. UM at this price point, in 0:21:46.640 --> 0:21:50.960 this you know, twenty dollar price point, it's a it's 0:21:51.080 --> 0:21:54.560 it's under levels that would tell us it's cheap. Now 0:21:54.600 --> 0:21:58.320 we don't know. Nobody knows, will never know a bottom 0:21:58.400 --> 0:21:59.800 or a top, so a lot of people is the 0:22:00.000 --> 0:22:02.800 out We don't know until we're looking backwards and we 0:22:02.840 --> 0:22:06.200 can confirm where that bottom is. What we can tell 0:22:06.680 --> 0:22:09.920 is when things are cheap or when things are expensive. Now, 0:22:09.960 --> 0:22:13.480 just because it's cheap doesn't mean that it can't get 0:22:13.520 --> 0:22:17.880 more cheap. It can, but it's cheap right now. Anytime 0:22:17.880 --> 0:22:21.040 it's been under this level, it's gone on to be 0:22:21.160 --> 0:22:24.000 a historic buy an opportunity. The last two times we've 0:22:24.000 --> 0:22:26.000 seen bitcoin get to this level, we've seen it rally 0:22:27.480 --> 0:22:30.520 and off of that, and that's where it's at. It's 0:22:30.520 --> 0:22:34.840 been trading for about five months in this range where 0:22:34.840 --> 0:22:38.640 it's at right now, and anytime it dips below this level, 0:22:38.640 --> 0:22:41.640 it just gets bought up really really, really fast. And 0:22:42.040 --> 0:22:46.640