1 00:00:00,080 --> 00:00:02,480 Speaker 1: Hey, everyone, welcome back to another episode of the Markma 2 00:00:02,600 --> 00:00:05,440 Speaker 1: Show where we talk about bitcoin and cryptocurrencies in the 3 00:00:05,519 --> 00:00:09,520 Speaker 1: decentralized revolution that is happening right now. Whether you like 4 00:00:09,600 --> 00:00:11,720 Speaker 1: it or not, whether you're paying attention or not, I 5 00:00:11,720 --> 00:00:13,720 Speaker 1: guess ready or not, here it comes because it is 6 00:00:13,760 --> 00:00:17,720 Speaker 1: here now. I try to bring to you a wide 7 00:00:17,800 --> 00:00:20,120 Speaker 1: range of information. I try to build your education base 8 00:00:20,160 --> 00:00:21,759 Speaker 1: so you can understand what's going on, and try to 9 00:00:21,760 --> 00:00:24,400 Speaker 1: bring you the latest breaking news so you can be 10 00:00:24,480 --> 00:00:26,960 Speaker 1: up to date on what's going on, and you know, 11 00:00:27,080 --> 00:00:28,800 Speaker 1: so you can sound like the smartest person at your 12 00:00:28,800 --> 00:00:31,200 Speaker 1: party this weekend. Um, so you know what's going on. 13 00:00:31,280 --> 00:00:33,880 Speaker 1: And then of course try to bring some interesting people 14 00:00:33,920 --> 00:00:37,240 Speaker 1: to talk to as well. And uh, there's no shortage 15 00:00:37,280 --> 00:00:39,640 Speaker 1: of stuff to talk about each end, every week because 16 00:00:39,680 --> 00:00:44,480 Speaker 1: this young market is moving so fast. One of the 17 00:00:44,560 --> 00:00:46,479 Speaker 1: right up and coming stars in the space that has 18 00:00:46,479 --> 00:00:48,640 Speaker 1: been reporting about this is Natalie Brunelle. I have her 19 00:00:48,640 --> 00:00:50,400 Speaker 1: in the studio with me today. Natalie, thanks so much 20 00:00:50,400 --> 00:00:52,560 Speaker 1: for joining me. Well those are some kind words. Thanks 21 00:00:52,560 --> 00:00:54,000 Speaker 1: so much for having me. It's nice to be in 22 00:00:54,040 --> 00:00:56,520 Speaker 1: person too. Yeah, so fun to be in the studio 23 00:00:56,600 --> 00:00:59,240 Speaker 1: doing this. I know, um, you know you had to. 24 00:00:59,760 --> 00:01:04,240 Speaker 1: You had a career before bitcoin and um investigative journalism, 25 00:01:05,440 --> 00:01:07,760 Speaker 1: which is pretty cool. Um, and now you're kind of 26 00:01:07,760 --> 00:01:10,480 Speaker 1: bringing that into the space, which is cool and uh 27 00:01:10,600 --> 00:01:12,560 Speaker 1: and uh. I love the perspective that you've been doing. 28 00:01:12,640 --> 00:01:14,160 Speaker 1: So it's great to have you here. If you're not 29 00:01:14,160 --> 00:01:17,000 Speaker 1: following Natalie on online, then you definitely should. You can 30 00:01:17,040 --> 00:01:19,680 Speaker 1: find her on Twitter at nat and at Brunel b 31 00:01:19,920 --> 00:01:22,600 Speaker 1: r U n e l l at at Nat Brunel 32 00:01:23,560 --> 00:01:26,280 Speaker 1: and um Natalie. A lot of stuff going on in 33 00:01:26,800 --> 00:01:30,360 Speaker 1: the space today. UM. One of the things that I 34 00:01:30,400 --> 00:01:33,479 Speaker 1: think is like the biggest story because I look at 35 00:01:33,480 --> 00:01:37,680 Speaker 1: the world and the world anyone you're from Poland, this 36 00:01:37,760 --> 00:01:39,960 Speaker 1: if this affects you more, but I think anybody can 37 00:01:39,959 --> 00:01:44,400 Speaker 1: see that the world is kind of trending towards totalitarianism. Um. 38 00:01:44,560 --> 00:01:46,959 Speaker 1: Poland's trying to stay out of communism, but the rest 39 00:01:46,959 --> 00:01:49,720 Speaker 1: of the world seems to be rushing into it. And 40 00:01:49,760 --> 00:01:52,040 Speaker 1: I think about, you know, technology is creating this like 41 00:01:52,120 --> 00:01:55,240 Speaker 1: perfect prison for them, and how does that trend break? 42 00:01:55,280 --> 00:01:58,840 Speaker 1: And I constantly say it's through competition and UM, so 43 00:01:58,880 --> 00:02:01,960 Speaker 1: when I see like else Avador coming online um and 44 00:02:02,000 --> 00:02:04,840 Speaker 1: taking taking bitcoin, I think, wow, this is the competition 45 00:02:04,880 --> 00:02:08,080 Speaker 1: we're talking about. Right, It's cool to see, um, Texas 46 00:02:08,160 --> 00:02:10,800 Speaker 1: and Florida. I'll compete California, New York. But now we 47 00:02:10,840 --> 00:02:15,040 Speaker 1: have nations out competing. UM. And then this week we 48 00:02:15,080 --> 00:02:17,480 Speaker 1: saw so so I think as bitcoins, we're all looking 49 00:02:17,520 --> 00:02:19,200 Speaker 1: at like what's the next nation going to be? Right, 50 00:02:19,240 --> 00:02:20,600 Speaker 1: which one is gonna be the next one to drop? 51 00:02:21,000 --> 00:02:23,440 Speaker 1: And so this week we saw well, last week I 52 00:02:23,480 --> 00:02:28,480 Speaker 1: reported that UM. I reported that the Central Bank of 53 00:02:28,560 --> 00:02:34,240 Speaker 1: Russia said that they should ban all cryptocurrencies, right. Um 54 00:02:34,280 --> 00:02:37,200 Speaker 1: they said that it was a risk to their financial system. Right. 55 00:02:37,639 --> 00:02:41,240 Speaker 1: But now this week, UM, we see Putin says, so 56 00:02:41,360 --> 00:02:43,280 Speaker 1: the central bank is kind of like the US a 57 00:02:43,320 --> 00:02:44,919 Speaker 1: little bit in a since where they're a little bit different. 58 00:02:44,960 --> 00:02:46,400 Speaker 1: So the central bank said that, but now Putin in 59 00:02:46,440 --> 00:02:48,919 Speaker 1: the government saying they want to bring bitcoin mining in. 60 00:02:49,680 --> 00:02:52,080 Speaker 1: You've been watching that story kind of developed. Yeah, I 61 00:02:52,080 --> 00:02:54,079 Speaker 1: think it's fascinating. First of all, when the central bank 62 00:02:54,160 --> 00:02:57,160 Speaker 1: said it wants to ban the cryptocurrencies, and it's it 63 00:02:57,560 --> 00:03:00,440 Speaker 1: always comes from the position right of protecting the stirs. 64 00:03:00,480 --> 00:03:03,440 Speaker 1: It's fall at all, but really it's to protect themselves, right, 65 00:03:03,520 --> 00:03:06,079 Speaker 1: So UM, I thought it was fascinating to see Vladimir 66 00:03:06,080 --> 00:03:10,080 Speaker 1: Putin diverge from that and see that through technology, this 67 00:03:10,080 --> 00:03:13,320 Speaker 1: could actually be a competitive advantage because they've got freezing 68 00:03:13,360 --> 00:03:17,359 Speaker 1: temperatures and parts of that area they have low energy costums. 69 00:03:17,400 --> 00:03:20,000 Speaker 1: That's that's where the oil is and so, you know, 70 00:03:20,080 --> 00:03:22,200 Speaker 1: be fascinating to see if they went into this space 71 00:03:22,280 --> 00:03:24,200 Speaker 1: like today he came out and said that he wants 72 00:03:24,240 --> 00:03:27,480 Speaker 1: to tax bitcoin mining. He doesn't want to ban it, 73 00:03:27,720 --> 00:03:30,800 Speaker 1: so especially now with all the geopolitical issues that are 74 00:03:30,840 --> 00:03:33,760 Speaker 1: happening there, I think that if he were to become 75 00:03:33,840 --> 00:03:37,440 Speaker 1: pro bitcoin, I mean, this could really shift the dynamics 76 00:03:37,480 --> 00:03:39,320 Speaker 1: of the space a lot. I mean, I think that 77 00:03:39,440 --> 00:03:43,160 Speaker 1: nations need to see this as a as an advantage. 78 00:03:43,160 --> 00:03:46,680 Speaker 1: If you are pro bitcoin, this could you know, as 79 00:03:46,680 --> 00:03:48,920 Speaker 1: far as the technology that can that can allow you 80 00:03:49,000 --> 00:03:52,600 Speaker 1: to you know, form some sort of economic power. I 81 00:03:52,640 --> 00:03:57,000 Speaker 1: think they aren't even harnessing that potential, and I think 82 00:03:57,000 --> 00:04:00,000 Speaker 1: it will change. Yeah, it said here that Putin on Wednesday, 83 00:04:00,000 --> 00:04:02,880 Speaker 1: a meeting with government officials acknowledged the central Bank's position. 84 00:04:03,600 --> 00:04:06,200 Speaker 1: I I hear what you're saying, but he highlighted that 85 00:04:06,240 --> 00:04:09,080 Speaker 1: Russia had some competitive advantages to my name bitcoin given 86 00:04:09,080 --> 00:04:13,000 Speaker 1: its power surplus kind of the point that you just said, um, 87 00:04:13,040 --> 00:04:15,640 Speaker 1: And what's interesting about that is, um, there's this whole 88 00:04:15,680 --> 00:04:18,840 Speaker 1: thing going on with well Russia and Europe and then 89 00:04:18,880 --> 00:04:22,440 Speaker 1: with Ukraine and UM. Europe has really put themselves in 90 00:04:22,440 --> 00:04:25,040 Speaker 1: a in a hard place because they've shut down all 91 00:04:25,040 --> 00:04:29,080 Speaker 1: their energy, like literally, and now they're begging Russia for energy. 92 00:04:29,440 --> 00:04:31,520 Speaker 1: And when you look at Russia, really all they have 93 00:04:31,720 --> 00:04:34,279 Speaker 1: is energy. And so part of the you know, part 94 00:04:34,279 --> 00:04:37,560 Speaker 1: of the thing with Russia is they're kind of the 95 00:04:37,640 --> 00:04:42,040 Speaker 1: world wants to say that they may be falling behind 96 00:04:42,080 --> 00:04:45,960 Speaker 1: because all their economies built on fossil fuels, and we 97 00:04:46,040 --> 00:04:49,440 Speaker 1: have to end fossil fuels, and um, we need to 98 00:04:49,480 --> 00:04:53,160 Speaker 1: go to green, renewable energy, and so all of your 99 00:04:53,240 --> 00:04:55,240 Speaker 1: natural gas and oil is going to be worthless in 100 00:04:55,279 --> 00:04:57,320 Speaker 1: the future. I don't believe that, and that's why I 101 00:04:57,360 --> 00:04:59,360 Speaker 1: say it. That's why I say it with the sarcastic tone. 102 00:05:00,160 --> 00:05:02,520 Speaker 1: But so when you look at Russia, if they really 103 00:05:02,560 --> 00:05:04,680 Speaker 1: believe that, which they probably don't, they're also going to 104 00:05:04,720 --> 00:05:08,520 Speaker 1: shoot Our only real productive value is with our energy 105 00:05:08,560 --> 00:05:11,159 Speaker 1: that's dying. So maybe we do need to find a 106 00:05:11,240 --> 00:05:13,800 Speaker 1: way to turn it into something else like bitcoin, so 107 00:05:13,800 --> 00:05:17,080 Speaker 1: they can take all this energy, which people say, well, 108 00:05:17,120 --> 00:05:19,400 Speaker 1: the world's going to use less oil and natural guests 109 00:05:19,400 --> 00:05:20,920 Speaker 1: in the future. Again, I don't believe that, but they 110 00:05:20,920 --> 00:05:23,600 Speaker 1: say that it's going to happen, and so Putin might say, 111 00:05:23,640 --> 00:05:25,599 Speaker 1: we'll shoot them. Let's take what we have and turn 112 00:05:25,640 --> 00:05:28,640 Speaker 1: into something the world wants. Yeah, you know, it's it's 113 00:05:28,680 --> 00:05:31,279 Speaker 1: interesting how we're sort of backing ourselves into a corner 114 00:05:31,520 --> 00:05:34,520 Speaker 1: to in the US with the e s G. Because 115 00:05:34,600 --> 00:05:37,280 Speaker 1: we were dependent on we need oil. We still need 116 00:05:37,760 --> 00:05:40,039 Speaker 1: um the fossil fuels at this point, and especially with 117 00:05:40,080 --> 00:05:42,400 Speaker 1: inflation ramping up. Did you see that, you know, oil 118 00:05:42,440 --> 00:05:44,560 Speaker 1: is hitting eighty eight dollars a barrel could hit a 119 00:05:44,600 --> 00:05:48,880 Speaker 1: hundred dollars. I mean, this is suffocating some nations, especially 120 00:05:48,880 --> 00:05:51,839 Speaker 1: in Eastern Europe, and we saw Kazakhstan, like the internet shutdowns, 121 00:05:52,160 --> 00:05:54,960 Speaker 1: the mining shutdowns, which I'm surprised I haven't even affected 122 00:05:54,960 --> 00:05:56,920 Speaker 1: the hash rate that much. We're still back at all 123 00:05:56,960 --> 00:06:00,320 Speaker 1: all time highs almost. Um. You know, I I don't 124 00:06:00,320 --> 00:06:01,960 Speaker 1: know how this is going to play out, but obviously 125 00:06:01,960 --> 00:06:05,840 Speaker 1: the fear is that Russia is gonna invade Ukraine. You 126 00:06:05,839 --> 00:06:07,680 Speaker 1: you and I probably have different opinions on that. You 127 00:06:07,680 --> 00:06:11,039 Speaker 1: think you think that the country might. I I just don't. 128 00:06:11,080 --> 00:06:13,680 Speaker 1: I think that there's too much at stake here. I don't, 129 00:06:13,720 --> 00:06:15,960 Speaker 1: you know, I don't see them going through with their 130 00:06:16,000 --> 00:06:19,520 Speaker 1: threat of of actually pulling them off the swift system. 131 00:06:19,560 --> 00:06:23,159 Speaker 1: I just think there's so much going on, and you know, 132 00:06:23,680 --> 00:06:27,880 Speaker 1: and look, consumers and people, the energy users, US everyone 133 00:06:28,040 --> 00:06:30,480 Speaker 1: is left holding the bag for all of these crises 134 00:06:30,520 --> 00:06:34,240 Speaker 1: that are created by central governments. Yeah. Well yeah, and 135 00:06:34,320 --> 00:06:36,400 Speaker 1: that's uh, the segment before this, as I was talking 136 00:06:36,400 --> 00:06:38,600 Speaker 1: about everyone's watching the Federal Reserve and we're all waiting 137 00:06:38,600 --> 00:06:40,800 Speaker 1: to see but like we're all at their whim. We 138 00:06:40,800 --> 00:06:42,760 Speaker 1: don't know what they're gonna do, and and and they're 139 00:06:42,760 --> 00:06:45,520 Speaker 1: creating all these problems for US. Um. But back to this. 140 00:06:45,600 --> 00:06:48,520 Speaker 1: What I like to on this article is he said, well, actually, 141 00:06:48,640 --> 00:06:50,719 Speaker 1: so the Central Bank said that they should ban it 142 00:06:51,400 --> 00:06:55,000 Speaker 1: because it undermines their financial system. Meaning if you don't 143 00:06:55,080 --> 00:06:57,080 Speaker 1: use our money, we can't control you. That's what they're 144 00:06:57,120 --> 00:06:59,720 Speaker 1: really saying. So let me that's that's my translating Russian 145 00:06:59,720 --> 00:07:04,200 Speaker 1: for you. When they say that, when when Christine le 146 00:07:04,279 --> 00:07:06,880 Speaker 1: Guard from the ECB says it, when Hillary Clinton comes 147 00:07:06,880 --> 00:07:09,080 Speaker 1: out and says it, and they say it, undermines the 148 00:07:09,080 --> 00:07:11,960 Speaker 1: financial system. What they puts the financiystem at risk. What 149 00:07:12,000 --> 00:07:14,160 Speaker 1: they mean is, if you don't use our financial system, 150 00:07:14,160 --> 00:07:17,040 Speaker 1: then we can't regulate you. It's kind of like, um, 151 00:07:17,080 --> 00:07:19,320 Speaker 1: if we were having a party here in this studio, 152 00:07:19,520 --> 00:07:21,200 Speaker 1: Laura bry wouldn't like it so much. But if we're 153 00:07:21,200 --> 00:07:22,840 Speaker 1: having a party here in the studio, a bunch of people, 154 00:07:23,160 --> 00:07:25,280 Speaker 1: and then Laura's like, hey, you guys are too loud, 155 00:07:25,320 --> 00:07:27,640 Speaker 1: get out of you know, quite quiet quiet, and everybody 156 00:07:27,640 --> 00:07:31,040 Speaker 1: starts leaving to a different studio. Eventually she's the only 157 00:07:31,080 --> 00:07:33,280 Speaker 1: one left here in the studio, and now she can't 158 00:07:33,280 --> 00:07:34,800 Speaker 1: control anything because no one's here and we're all on 159 00:07:34,800 --> 00:07:37,000 Speaker 1: our own studio do what we want. And so that's 160 00:07:37,040 --> 00:07:38,840 Speaker 1: kind of the way the financial system is as well, 161 00:07:38,880 --> 00:07:40,720 Speaker 1: where it's like, as long as we're all in their 162 00:07:40,760 --> 00:07:43,640 Speaker 1: finance system, they can they can control us. But if 163 00:07:43,640 --> 00:07:46,480 Speaker 1: they start kicking people out and we all start leaving, 164 00:07:46,600 --> 00:07:50,080 Speaker 1: then they have no control. So that's what they mean. 165 00:07:50,160 --> 00:07:51,640 Speaker 1: And then they say, well, then that's a that's a 166 00:07:51,680 --> 00:07:54,880 Speaker 1: problem for the financial stability because if we can't control 167 00:07:54,920 --> 00:07:58,920 Speaker 1: the money supply, how can we control the financial system. Yeah, 168 00:07:59,040 --> 00:08:02,360 Speaker 1: that's the whole point exactly exactly well, and it's interesting 169 00:08:02,360 --> 00:08:06,080 Speaker 1: to see that, um, I mean, bitcoin has been mind 170 00:08:06,320 --> 00:08:08,840 Speaker 1: it's the third largest country. I believe Russia has the 171 00:08:08,880 --> 00:08:12,560 Speaker 1: third largest share of the hash rates, So clearly this 172 00:08:12,640 --> 00:08:15,040 Speaker 1: is like a huge industry there. And I think they 173 00:08:15,080 --> 00:08:17,840 Speaker 1: see the advantage of you know, proposing something like taxing it, 174 00:08:17,920 --> 00:08:20,640 Speaker 1: regulating it instead of banning it because they need it 175 00:08:20,800 --> 00:08:22,720 Speaker 1: and they have the energy there where it could be 176 00:08:22,760 --> 00:08:27,040 Speaker 1: extremely economically advantageous for them, especially when things arise like this, 177 00:08:27,120 --> 00:08:31,120 Speaker 1: like being cut off from the system at large. Um. 178 00:08:31,200 --> 00:08:32,640 Speaker 1: And you know, it's interesting to think, you know, just 179 00:08:32,679 --> 00:08:35,400 Speaker 1: about everything that's happening, and like Russia and China are 180 00:08:35,440 --> 00:08:37,439 Speaker 1: sort of frenemies right in the sense that they both 181 00:08:37,520 --> 00:08:40,680 Speaker 1: don't like the United States, and uh, I just I 182 00:08:40,720 --> 00:08:42,520 Speaker 1: wonder what's going to play out because then on the 183 00:08:42,559 --> 00:08:44,880 Speaker 1: other side you also have is China going to eventually 184 00:08:44,880 --> 00:08:47,600 Speaker 1: invade Taiwan? I mean, all these geopolitical things that are 185 00:08:47,600 --> 00:08:50,800 Speaker 1: coming together, the monetary system, you know, the blood that's 186 00:08:50,840 --> 00:08:53,800 Speaker 1: running through these veins like what and and the shift 187 00:08:53,840 --> 00:08:56,160 Speaker 1: that you talk about, this monetary reset that we're about 188 00:08:56,200 --> 00:08:58,360 Speaker 1: to see, and it's all playing out and then we're 189 00:08:58,400 --> 00:09:01,480 Speaker 1: just waiting on bated breath to know what j Powell's 190 00:09:01,480 --> 00:09:04,840 Speaker 1: gonna say and how it's going to affect bitcoin. Surprise, Yeah, 191 00:09:04,920 --> 00:09:07,360 Speaker 1: I saw the Russian Ministry of Finance said that the 192 00:09:08,280 --> 00:09:12,160 Speaker 1: that they suggested that they that a move of Bannon 193 00:09:12,160 --> 00:09:15,000 Speaker 1: it could backfire and lead to a stalled Russia in 194 00:09:15,120 --> 00:09:17,319 Speaker 1: terms of innovations. They seem to get it. By the way. 195 00:09:17,320 --> 00:09:19,960 Speaker 1: You're listening to the markmas Show. We're talking about bitcoin 196 00:09:19,960 --> 00:09:22,600 Speaker 1: and cryptocurrencies in the decentralized revolution. I'm in the studio 197 00:09:22,600 --> 00:09:24,480 Speaker 1: with Natalie Brunel. You can find her on Twitter at 198 00:09:24,520 --> 00:09:27,160 Speaker 1: nat Brunell. We're talking about bitcoin when we're talking about 199 00:09:27,160 --> 00:09:29,520 Speaker 1: some of the latest breaking news headlines. To keep you 200 00:09:29,600 --> 00:09:31,880 Speaker 1: up to date. Let we're back with more into a second. 201 00:09:31,920 --> 00:09:34,400 Speaker 1: Don't go away, all right, welcome back. You are listening 202 00:09:34,440 --> 00:09:36,559 Speaker 1: to the Mark Moa Show and we're talking about bitcoin 203 00:09:36,640 --> 00:09:39,720 Speaker 1: and the decentralized revolution that's happening. I'm in the studio 204 00:09:39,760 --> 00:09:42,120 Speaker 1: today with Nat Brunel and Natalie Brunel. You can find 205 00:09:42,120 --> 00:09:44,240 Speaker 1: her on Twitter at nat Brunel b R U in 206 00:09:44,400 --> 00:09:46,600 Speaker 1: E L L. And we're talking about some of the 207 00:09:46,679 --> 00:09:49,000 Speaker 1: latest breaking news that's going on. And we were just 208 00:09:49,040 --> 00:09:52,600 Speaker 1: talking about before the break, how um, the Central Bank 209 00:09:52,640 --> 00:09:55,040 Speaker 1: of Russia said they've been on a band bitcoin mining, 210 00:09:55,720 --> 00:09:58,680 Speaker 1: but now Vladimir Putin, the president, is saying that they 211 00:09:58,880 --> 00:10:03,080 Speaker 1: actually may want to do bitcoin mining. And Natalie was 212 00:10:03,120 --> 00:10:06,320 Speaker 1: kind of making the case of China kicked all their 213 00:10:06,320 --> 00:10:10,040 Speaker 1: bitcoin mining out of the country, and uh, Russia and 214 00:10:10,080 --> 00:10:13,280 Speaker 1: the United States became big beneficiaries of that. And um, 215 00:10:13,280 --> 00:10:16,319 Speaker 1: the United States has become the largest bitcoin mining space, 216 00:10:16,320 --> 00:10:19,360 Speaker 1: and now Russia is I think third, right kazakh sounds 217 00:10:19,360 --> 00:10:22,400 Speaker 1: to Kazakh stuns uh to which maybe they want to 218 00:10:22,440 --> 00:10:26,360 Speaker 1: control Kazakhs down as well, right, Um. And so it's 219 00:10:26,360 --> 00:10:28,640 Speaker 1: interesting A lot of people have speculated that maybe there 220 00:10:28,720 --> 00:10:31,080 Speaker 1: is going to be this this hash this hash race. 221 00:10:31,360 --> 00:10:35,120 Speaker 1: When we say hash, that's the computer power that mins bitcoin. Um, 222 00:10:35,160 --> 00:10:37,800 Speaker 1: what do you think about the hash wars the hash race? Well, 223 00:10:37,840 --> 00:10:40,480 Speaker 1: I mean if this were to come to fruition, if 224 00:10:40,520 --> 00:10:44,600 Speaker 1: if Russia became a bitcoin nation and took advantage of 225 00:10:44,720 --> 00:10:48,280 Speaker 1: bitcoin mining, I mean, that's that's it right there. I mean, 226 00:10:48,400 --> 00:10:51,600 Speaker 1: step up, checkmate, you know, USA has to step up. 227 00:10:51,679 --> 00:10:54,000 Speaker 1: I think I think we're in such a fascinating time. 228 00:10:54,040 --> 00:10:56,720 Speaker 1: I never would have thought that these discussions would be happening, 229 00:10:56,880 --> 00:10:58,679 Speaker 1: and you know that argument that some people think is 230 00:10:58,720 --> 00:11:02,000 Speaker 1: just like so lofty and I don't know metaphysical, like oh, 231 00:11:02,040 --> 00:11:06,680 Speaker 1: bitcoin's energy, bitcoin's digital energy. Well it is literally energy 232 00:11:06,760 --> 00:11:10,000 Speaker 1: because it is bitcoin mining. You need the energy, and 233 00:11:10,000 --> 00:11:12,920 Speaker 1: where is the energy concentrated? And who has the power 234 00:11:12,960 --> 00:11:14,960 Speaker 1: over the energy? And I think I think you know 235 00:11:15,040 --> 00:11:19,160 Speaker 1: you're seeing this playing out across across Europe and Russia 236 00:11:19,200 --> 00:11:22,800 Speaker 1: and US usays response to it and and r E. 237 00:11:23,000 --> 00:11:27,160 Speaker 1: S G Fund and issues. When you say energy, um, 238 00:11:27,280 --> 00:11:29,000 Speaker 1: you kind of said that kind of a little funny, 239 00:11:29,120 --> 00:11:31,520 Speaker 1: and a lot of people I think, I mean, when 240 00:11:31,520 --> 00:11:33,880 Speaker 1: you talk about like stored energy and money being energy, 241 00:11:34,040 --> 00:11:35,679 Speaker 1: it sounds a little non on new new and a 242 00:11:35,720 --> 00:11:39,520 Speaker 1: little philosophical, but it's actually the way it is. And 243 00:11:39,559 --> 00:11:42,040 Speaker 1: if you don't understand it at that level, then you 244 00:11:42,080 --> 00:11:44,880 Speaker 1: don't actually understand the way the world is working. And 245 00:11:44,880 --> 00:11:47,600 Speaker 1: I think then you if you don't understand that, I mean, 246 00:11:47,640 --> 00:11:48,760 Speaker 1: sure you know how to go down to Chick fil 247 00:11:48,760 --> 00:11:50,360 Speaker 1: A and get your lunch, but you don't understand where 248 00:11:50,360 --> 00:11:52,040 Speaker 1: the world's really going on how to prepare for that, 249 00:11:52,360 --> 00:11:55,160 Speaker 1: And so um, energy sits at the base of everything. 250 00:11:55,160 --> 00:11:57,520 Speaker 1: If you think about it, going to Chick fil A 251 00:11:57,920 --> 00:12:01,360 Speaker 1: is putting calories in your body. As calories are energy 252 00:12:01,520 --> 00:12:04,160 Speaker 1: that your body expenses. Everything is energy, and so being 253 00:12:04,200 --> 00:12:07,800 Speaker 1: able to store energy, um being able to convert energy 254 00:12:07,800 --> 00:12:10,040 Speaker 1: into something that could be stored. I mean, it's just 255 00:12:10,200 --> 00:12:13,000 Speaker 1: it's an amazing breakthrough. It's pretty cool. Well, yeah, and 256 00:12:13,000 --> 00:12:15,559 Speaker 1: we we don't really think about money in that way, 257 00:12:15,600 --> 00:12:19,600 Speaker 1: and we need to because we don't realize that our 258 00:12:19,679 --> 00:12:23,679 Speaker 1: cash is just sitting and having its battery essentially drained 259 00:12:24,240 --> 00:12:27,080 Speaker 1: because of what FED policy is doing, and so it 260 00:12:27,160 --> 00:12:29,360 Speaker 1: sits there. And you know, the other analogy that I've 261 00:12:29,400 --> 00:12:32,320 Speaker 1: always loved is like that melting ice cube, where you 262 00:12:32,440 --> 00:12:34,920 Speaker 1: have to do something with it, you have to risk it. 263 00:12:35,200 --> 00:12:40,080 Speaker 1: And before Bitcoin, i mean essentially you just had to 264 00:12:40,120 --> 00:12:42,600 Speaker 1: throw it into this asset bubble that they were creating. 265 00:12:43,160 --> 00:12:47,560 Speaker 1: And and now we have something where hopefully, if it 266 00:12:47,640 --> 00:12:52,600 Speaker 1: catches on, it might make sense to get the exactly 267 00:12:53,120 --> 00:12:56,160 Speaker 1: you can store your your monetary energy, the fruit of 268 00:12:56,200 --> 00:12:59,720 Speaker 1: your labor for years and years and generations to come. 269 00:12:59,800 --> 00:13:02,200 Speaker 1: I'm mean, I just think it's amazing that we've harnessed 270 00:13:02,240 --> 00:13:05,640 Speaker 1: technology to do exactly that. But yeah, but I didn't 271 00:13:05,640 --> 00:13:07,840 Speaker 1: mean it in a in a literal and a A 272 00:13:08,280 --> 00:13:12,880 Speaker 1: a non literal way coins energy. So UM I said 273 00:13:12,960 --> 00:13:15,600 Speaker 1: the beginning, or when we first started UM that it 274 00:13:15,679 --> 00:13:17,839 Speaker 1: was El Salvador kind of coming on board as the 275 00:13:17,880 --> 00:13:19,880 Speaker 1: first nation, and then we'll start to see more coming 276 00:13:19,920 --> 00:13:22,120 Speaker 1: on board. UM. A couple of other things that happened 277 00:13:22,120 --> 00:13:26,440 Speaker 1: this week. Obviously we talked about Russia, it's another country, UM. 278 00:13:26,480 --> 00:13:30,480 Speaker 1: But then we saw m Turkey. So UM, that was 279 00:13:30,520 --> 00:13:32,720 Speaker 1: a funny story coming out of Turkey. So the president 280 00:13:32,720 --> 00:13:40,320 Speaker 1: of Turkey at ed John Edgon sorry, UM, he met 281 00:13:40,400 --> 00:13:45,360 Speaker 1: with President Bukeley from El Salvador, and UH, A lot 282 00:13:45,360 --> 00:13:48,440 Speaker 1: of people are speculating what happened there. We saw that 283 00:13:48,520 --> 00:13:52,080 Speaker 1: Turkey has actually restricted payments in crypto assets, but it 284 00:13:52,120 --> 00:13:56,000 Speaker 1: has massive financial problems. We see here the Turkish president 285 00:13:56,720 --> 00:13:59,679 Speaker 1: met Thursday with the leader of El Salvador, President Bukeley, 286 00:14:00,000 --> 00:14:02,280 Speaker 1: which was of course the first UM country to make 287 00:14:02,280 --> 00:14:05,280 Speaker 1: bitcoin legal. But Turkey has these massive problems. The Turkish 288 00:14:05,360 --> 00:14:08,760 Speaker 1: leara lost forty of its value against the dollar last year, 289 00:14:09,200 --> 00:14:11,960 Speaker 1: which was actually way understated. It actually lost way more 290 00:14:12,000 --> 00:14:15,720 Speaker 1: than that, and then that caused UM protests. I loved 291 00:14:16,000 --> 00:14:18,679 Speaker 1: where am I reading this from Wall Street Journal? Of course, UM, 292 00:14:18,760 --> 00:14:23,320 Speaker 1: sparked occasional protests of mostly peaceful people. They didn't put 293 00:14:23,320 --> 00:14:26,160 Speaker 1: the peaceful people apart, but have said sparked occasional protests 294 00:14:26,240 --> 00:14:28,240 Speaker 1: and threatened financial stability in the country. Now it was 295 00:14:28,280 --> 00:14:29,960 Speaker 1: it was way worse than that, and so they have 296 00:14:30,040 --> 00:14:33,480 Speaker 1: these massive problems. The lira is just continuing to lose money, 297 00:14:33,480 --> 00:14:36,240 Speaker 1: and so people are leaving as fast as they can dump, 298 00:14:36,320 --> 00:14:41,640 Speaker 1: jumping into cryptocurrencies like like rats leaving a ship. Right, yeah, 299 00:14:41,680 --> 00:14:44,920 Speaker 1: I mean, I think it's really sad what what has happened, 300 00:14:44,920 --> 00:14:47,320 Speaker 1: and we're seeing hyper inflation in real time, and so 301 00:14:47,400 --> 00:14:50,280 Speaker 1: of course people are going to flee to assets that 302 00:14:50,320 --> 00:14:52,720 Speaker 1: they feel are safer, even if they're volatile. I mean, 303 00:14:52,720 --> 00:14:55,560 Speaker 1: we just saw a drought draw down of fifty but 304 00:14:55,760 --> 00:15:00,600 Speaker 1: their own currencies drawing down, you know. So I think, 305 00:15:00,640 --> 00:15:03,560 Speaker 1: you know, something like bitcoin could really save people that 306 00:15:03,600 --> 00:15:07,360 Speaker 1: are in in Turkey, for sure. But the conversations with 307 00:15:07,400 --> 00:15:09,600 Speaker 1: bou Kelly, you know, I find the whole all the 308 00:15:09,640 --> 00:15:13,360 Speaker 1: headlines interesting because people want to connect the dots, right. 309 00:15:13,400 --> 00:15:17,040 Speaker 1: I know that El Salvador was there supposedly to discuss 310 00:15:17,520 --> 00:15:21,280 Speaker 1: um opportunities when it comes to tourism and investments. They're 311 00:15:21,280 --> 00:15:24,120 Speaker 1: creating surf city, right that this magical place that's not 312 00:15:24,160 --> 00:15:27,280 Speaker 1: gonna have any taxes and and exist on you know, 313 00:15:27,360 --> 00:15:31,360 Speaker 1: bitcoin in these bonds. But um but I don't think 314 00:15:31,360 --> 00:15:34,720 Speaker 1: that that that bou Kelly was actually there too. I 315 00:15:34,720 --> 00:15:37,080 Speaker 1: don't know, get them on the bitcoin standard because my 316 00:15:37,160 --> 00:15:39,640 Speaker 1: understanding too is they never even talked about bitcoin in 317 00:15:39,680 --> 00:15:41,680 Speaker 1: that way. That's what they said. That's what they said. 318 00:15:41,720 --> 00:15:44,000 Speaker 1: How could they not how could they not talk about it? 319 00:15:44,120 --> 00:15:46,920 Speaker 1: Isn't there a transcript of this? Meaning? Like I guess, 320 00:15:47,040 --> 00:15:48,760 Speaker 1: I mean I think that that I don't think that 321 00:15:48,760 --> 00:15:51,280 Speaker 1: that conversation went there. I think El Salvador is just 322 00:15:51,360 --> 00:15:55,920 Speaker 1: looking for for economic opportunities, um and and what kind 323 00:15:55,920 --> 00:15:59,440 Speaker 1: of what what kind of opportunities? Uh well with regards 324 00:15:59,480 --> 00:16:02,160 Speaker 1: to just I don't know, investment loans, I don't know. 325 00:16:02,320 --> 00:16:04,600 Speaker 1: So that right there. So that's that's where I think 326 00:16:04,640 --> 00:16:08,320 Speaker 1: the key pieces investments and loans and so bonds boom. 327 00:16:08,480 --> 00:16:10,360 Speaker 1: See there you go. You're digging a little bit deeper. 328 00:16:10,360 --> 00:16:12,680 Speaker 1: I mean, the people that want to go to El 329 00:16:12,720 --> 00:16:15,360 Speaker 1: Savador for surf city or bitcoin beach are not the 330 00:16:15,360 --> 00:16:16,920 Speaker 1: people that want to go to Turkey. I'll tell you 331 00:16:16,960 --> 00:16:20,160 Speaker 1: that I've been to El Savador many time surfing before 332 00:16:20,200 --> 00:16:22,120 Speaker 1: Bitcoin Beach, and I've been there for Bitcoin Beach as well. 333 00:16:22,640 --> 00:16:26,920 Speaker 1: I've never been to Turkey, ty you. I've been to 334 00:16:26,960 --> 00:16:30,240 Speaker 1: several cities in Turkey. Turkey when I went, it was beautiful. 335 00:16:30,280 --> 00:16:33,040 Speaker 1: I went to Istanbul, I went to the famous mosque there. 336 00:16:33,440 --> 00:16:35,600 Speaker 1: I also went on the coast and it's beautiful. It's 337 00:16:35,640 --> 00:16:38,440 Speaker 1: rich with history. I learned a lot about the Muslim 338 00:16:38,480 --> 00:16:41,720 Speaker 1: faith and it was a beautiful country. Certainly didn't have 339 00:16:41,720 --> 00:16:44,440 Speaker 1: the issues with the currency when I went that it 340 00:16:44,480 --> 00:16:46,960 Speaker 1: does now. But um, but a lot of those nations 341 00:16:46,960 --> 00:16:50,280 Speaker 1: have have always struggled, and you know, uh, seeing what 342 00:16:50,320 --> 00:16:52,320 Speaker 1: happened to the Lira and seeing what's happening in places 343 00:16:52,320 --> 00:16:54,920 Speaker 1: like Lebanon, it's it's easy to understand why people are 344 00:16:54,920 --> 00:16:57,240 Speaker 1: fleeing to other places. Like I met people from Turkey 345 00:16:57,280 --> 00:16:59,520 Speaker 1: and Lebanon when I went to Dubai recently, and it 346 00:16:59,560 --> 00:17:03,200 Speaker 1: was exactly for the economic freedom and economic opportunity that 347 00:17:03,200 --> 00:17:06,840 Speaker 1: they fled because everyone's messing with their country's currency. Um. 348 00:17:06,920 --> 00:17:08,720 Speaker 1: And so yeah, no, I think I think it's going 349 00:17:08,760 --> 00:17:10,360 Speaker 1: to be interesting what plays out. But I don't think. 350 00:17:10,480 --> 00:17:13,399 Speaker 1: I don't think bucall a orange pilled Urduan. I don't know. 351 00:17:13,480 --> 00:17:15,199 Speaker 1: I mean I wish he did, but I don't think 352 00:17:15,240 --> 00:17:18,240 Speaker 1: he did. Maybe. I mean, there's so there's a there's 353 00:17:18,240 --> 00:17:20,080 Speaker 1: another piece of it that I want to talk about, 354 00:17:20,119 --> 00:17:23,119 Speaker 1: which is, as you said, um, some of this um 355 00:17:23,160 --> 00:17:27,240 Speaker 1: investment and bonds and so what what what Bookaylie has 356 00:17:27,280 --> 00:17:30,240 Speaker 1: done with El Salvador is he's he's had a massive 357 00:17:30,240 --> 00:17:34,280 Speaker 1: amount of investment capital coming so um, not just because 358 00:17:34,280 --> 00:17:36,080 Speaker 1: of the money, partly because of the money, but then 359 00:17:36,119 --> 00:17:40,360 Speaker 1: he said, no, no more mandates, no more testing. Yeah, 360 00:17:40,800 --> 00:17:43,320 Speaker 1: we're gonna set up this bitcoin city. There's gonna be 361 00:17:43,320 --> 00:17:46,240 Speaker 1: no taxes, no income tax, no camp gains taxes. He said, 362 00:17:46,680 --> 00:17:49,800 Speaker 1: come make as much money as you want. And so 363 00:17:49,960 --> 00:17:52,840 Speaker 1: people are going there, investing, their businesses are moving there, etcetera. 364 00:17:53,000 --> 00:17:55,159 Speaker 1: And other country are gonna notice. Um. I want to 365 00:17:55,160 --> 00:17:59,520 Speaker 1: talk about, um, what he's doing. Um, that's going against 366 00:17:59,560 --> 00:18:01,520 Speaker 1: the I m F and I think it's also the 367 00:18:01,600 --> 00:18:03,920 Speaker 1: key piece that Turkey is interested in. MNN. Listening to 368 00:18:03,960 --> 00:18:05,640 Speaker 1: the Mark Mo Show, we're gonna dig into those things. 369 00:18:05,760 --> 00:18:09,119 Speaker 1: We're talking about bitcoin and cryptocurrencies. I'm in the studio 370 00:18:09,119 --> 00:18:12,399 Speaker 1: with Nat Brunell at Nat Brunell on Twitter. We're gonna 371 00:18:12,440 --> 00:18:14,560 Speaker 1: find out more about what the I m F is doing. 372 00:18:14,720 --> 00:18:16,960 Speaker 1: So don't go away, all right, welcome back. You're listening 373 00:18:17,000 --> 00:18:19,000 Speaker 1: to the Mark Moa Show and we're talking about bitcoin 374 00:18:19,080 --> 00:18:22,880 Speaker 1: and the decentralized revolution. I'm in the studio with Natalie Brunell. 375 00:18:22,920 --> 00:18:25,240 Speaker 1: You can find her on Twitter at nat Brunell. Damn. 376 00:18:26,119 --> 00:18:29,600 Speaker 1: We've been talking about nations continue to jump onto bitcoin. 377 00:18:29,800 --> 00:18:32,800 Speaker 1: We talked about El Salvador. We talked about Russia flip 378 00:18:32,840 --> 00:18:36,120 Speaker 1: flopping back and forth. Will they do it? Will they won't? Um. 379 00:18:36,160 --> 00:18:38,720 Speaker 1: We talked about what was going on in Turkey and 380 00:18:38,760 --> 00:18:42,680 Speaker 1: now UM back to that story. So UM, I'm sure 381 00:18:42,720 --> 00:18:45,280 Speaker 1: there was a transcript somewhere. I haven't seen it yet. 382 00:18:45,920 --> 00:18:47,960 Speaker 1: I can't imagine they haven't talked about the I m 383 00:18:48,040 --> 00:18:50,760 Speaker 1: F and M Bitcoin. But what I do think is 384 00:18:50,880 --> 00:18:53,679 Speaker 1: possible is that what um El Salvador is doing is 385 00:18:53,720 --> 00:18:56,480 Speaker 1: in you know, in in in regards to getting the 386 00:18:56,640 --> 00:19:02,119 Speaker 1: bitcoin reserve or currency. UM. They've also started this bitcoin bond, 387 00:19:02,920 --> 00:19:04,439 Speaker 1: and so the bitcoin bond is a way for them 388 00:19:04,480 --> 00:19:11,000 Speaker 1: to raise money outside of the normal channels. And UM. 389 00:19:11,040 --> 00:19:12,920 Speaker 1: Another piece of this, which we'll talk about in a second, 390 00:19:13,040 --> 00:19:14,800 Speaker 1: is what the I m F so typically the nation 391 00:19:14,840 --> 00:19:16,600 Speaker 1: would have to go to the I m F begging 392 00:19:17,320 --> 00:19:19,040 Speaker 1: to give me some money. The Bible says that this 393 00:19:19,359 --> 00:19:21,159 Speaker 1: the borrow is servant to the lender, and so the 394 00:19:21,200 --> 00:19:25,880 Speaker 1: IMF money always comes with strings attached. And so um, 395 00:19:25,920 --> 00:19:27,679 Speaker 1: they're not happy about that. We'll talk about in a minute. 396 00:19:27,920 --> 00:19:31,879 Speaker 1: But um, Turkey, who's in some serious financial problems. Their 397 00:19:31,960 --> 00:19:34,639 Speaker 1: currencies are blowing up, and the president is trying to 398 00:19:34,680 --> 00:19:36,280 Speaker 1: do anything he can to figure out how to do that. 399 00:19:36,359 --> 00:19:38,920 Speaker 1: So he might have been talking about, how are you 400 00:19:39,040 --> 00:19:42,240 Speaker 1: raising money without going with your hat and your hand 401 00:19:42,280 --> 00:19:46,160 Speaker 1: to the I m F. Yeah, I don't know if 402 00:19:46,160 --> 00:19:48,880 Speaker 1: that that. I don't know what their conversation was about, 403 00:19:48,880 --> 00:19:50,320 Speaker 1: but I will tell you that the articles that came 404 00:19:50,320 --> 00:19:52,560 Speaker 1: out after that meeting said bitcoin was not mentioned. So 405 00:19:52,720 --> 00:19:55,200 Speaker 1: maybe that maybe that's not true. Maybe there was a 406 00:19:55,200 --> 00:19:58,520 Speaker 1: closed door meeting that has no transcript. But um, obviously 407 00:19:58,560 --> 00:20:02,120 Speaker 1: all Salvador, all salvador. If you're if you're talking about, hey, 408 00:20:02,200 --> 00:20:05,320 Speaker 1: here's what else sours doing, here's what Turkey's doing. If 409 00:20:05,359 --> 00:20:07,080 Speaker 1: you're talking about here's what else is doing, how could 410 00:20:07,119 --> 00:20:09,040 Speaker 1: you not mention it? You could talk about, hey, we're 411 00:20:09,080 --> 00:20:11,840 Speaker 1: raising money on bonds without the I m F, but 412 00:20:12,000 --> 00:20:14,440 Speaker 1: like you have to mention bitcoin, right, Like, how could 413 00:20:14,440 --> 00:20:16,760 Speaker 1: you not? I mean, I mean, look at the articles there. 414 00:20:16,880 --> 00:20:20,760 Speaker 1: President didn't mention bitcoin and his meeting with Urdwan? Did they? 415 00:20:20,760 --> 00:20:24,160 Speaker 1: Did they mention how is raising money? Did they? Did they? 416 00:20:24,160 --> 00:20:27,240 Speaker 1: Did they mention why investment capital is coming to the country? 417 00:20:27,280 --> 00:20:28,960 Speaker 1: Did they mention that the I m F is coming 418 00:20:28,960 --> 00:20:31,359 Speaker 1: after them right now? Trying to persuade them? Like, I 419 00:20:31,359 --> 00:20:33,840 Speaker 1: don't know, we need to see a transcript obviously, because 420 00:20:33,920 --> 00:20:36,159 Speaker 1: I don't I don't I don't know the specifics of 421 00:20:36,200 --> 00:20:40,000 Speaker 1: their conversation, but obviously, you know, urduans in an economic crisis. 422 00:20:40,040 --> 00:20:44,240 Speaker 1: He wants to he wants to save himself, and Buckley 423 00:20:44,320 --> 00:20:47,439 Speaker 1: obviously needs needs money, needs capital to come into his country. 424 00:20:47,560 --> 00:20:50,560 Speaker 1: I I just what I like is right now bitcoin's 425 00:20:50,600 --> 00:20:54,280 Speaker 1: price performance. It's not doing great right and we're in 426 00:20:54,320 --> 00:20:56,119 Speaker 1: the midst of just kind of waiting to see what 427 00:20:56,200 --> 00:20:59,280 Speaker 1: happens with the Fed at large, the central banks. But 428 00:20:59,359 --> 00:21:02,600 Speaker 1: what I like and admire about him is that he's 429 00:21:02,640 --> 00:21:05,880 Speaker 1: just standing his ground and basically standing up to sort 430 00:21:05,920 --> 00:21:08,080 Speaker 1: of the bullies that are the I m F and 431 00:21:08,119 --> 00:21:12,119 Speaker 1: these other nations that are criticized. El Salvador, El Salvador. 432 00:21:12,160 --> 00:21:14,840 Speaker 1: You know, the credit rating agency like Moody saying we're 433 00:21:14,880 --> 00:21:17,680 Speaker 1: going to DOWNDE downgrade you. There's so much. You know, 434 00:21:17,720 --> 00:21:21,520 Speaker 1: everyone's talking about the sovereign debt risk and uh, their 435 00:21:21,560 --> 00:21:24,160 Speaker 1: their bonds, you know, their status has been I think downgraded, 436 00:21:24,240 --> 00:21:26,800 Speaker 1: or at least they've they've threatened to downgrade El Salvador. 437 00:21:27,040 --> 00:21:30,200 Speaker 1: But he's basically saying, you know, all these other guys 438 00:21:30,200 --> 00:21:32,880 Speaker 1: are hypocrites. Like did you see his one tweet I retweeted? 439 00:21:32,920 --> 00:21:36,000 Speaker 1: It says, um, I don't don't think. Okay, listen to 440 00:21:36,000 --> 00:21:38,960 Speaker 1: this tweet is strong his tweet Okay, So this is 441 00:21:38,960 --> 00:21:41,399 Speaker 1: actually I wanted to actually talk about this because I 442 00:21:41,520 --> 00:21:45,320 Speaker 1: originally didn't like his McDonald's tweet. I was kind of 443 00:21:45,320 --> 00:21:48,000 Speaker 1: cringed at it. I was like, this is a little 444 00:21:48,040 --> 00:21:50,440 Speaker 1: too far for a president to be tweeting this when 445 00:21:50,760 --> 00:21:53,280 Speaker 1: there's a significant draw down and people are losing money 446 00:21:53,280 --> 00:21:55,760 Speaker 1: in real time in a place where this isn't just 447 00:21:55,800 --> 00:21:58,120 Speaker 1: a store of value, it's a medium of exchange. It's 448 00:21:58,160 --> 00:22:00,280 Speaker 1: actively a medium of exchange. So I was kind of like, 449 00:22:00,680 --> 00:22:03,359 Speaker 1: you know, the president and now you're making fun and 450 00:22:03,440 --> 00:22:06,600 Speaker 1: putting a meme hat on, you know, McDonald's whatever, I 451 00:22:06,760 --> 00:22:09,879 Speaker 1: changed my mind because of a follow up tweet that 452 00:22:09,960 --> 00:22:12,760 Speaker 1: he said, and he and it read this, I want 453 00:22:12,760 --> 00:22:15,520 Speaker 1: to see hypocrisy. Look at the ones supporting a president 454 00:22:15,560 --> 00:22:18,040 Speaker 1: who wants to go to war to boost his approval ratings, 455 00:22:18,119 --> 00:22:20,359 Speaker 1: sending gas prices to the roof in the midst of 456 00:22:20,359 --> 00:22:24,520 Speaker 1: a global inflation that will send hundreds of millions into poverty. 457 00:22:24,600 --> 00:22:29,080 Speaker 1: But they're concerned about McDonald's jokes. And and it's kind 458 00:22:29,119 --> 00:22:33,199 Speaker 1: of poignant and compelling because he's making a huge bet 459 00:22:33,640 --> 00:22:38,919 Speaker 1: on a global digital asset, a pristine technology network that 460 00:22:39,000 --> 00:22:41,320 Speaker 1: he will never be able to manipulate, that he will 461 00:22:41,359 --> 00:22:44,440 Speaker 1: never be able to control. And yes, it's a huge risk, 462 00:22:44,520 --> 00:22:47,159 Speaker 1: especially right now, because it's a nascent like store of 463 00:22:47,240 --> 00:22:51,240 Speaker 1: value and technology, and so it's extremely volatile, impacted by 464 00:22:51,280 --> 00:22:54,359 Speaker 1: things like you know, the liquidity in the markets, and 465 00:22:54,400 --> 00:22:58,480 Speaker 1: it performs some somewhat like equities, especially recently because of liquidity. 466 00:22:58,600 --> 00:23:01,240 Speaker 1: And and he's just saying, look, this is this is 467 00:23:01,240 --> 00:23:03,000 Speaker 1: going to help my country, This is going to help 468 00:23:03,040 --> 00:23:05,840 Speaker 1: the people. And right now we might be seeing spikes 469 00:23:05,840 --> 00:23:07,959 Speaker 1: of this and that. But like surf City is just 470 00:23:08,040 --> 00:23:13,520 Speaker 1: like the most progressive capitalistic idea for a city that 471 00:23:13,600 --> 00:23:16,479 Speaker 1: I've I've heard in years, but I've ever heard, you know, 472 00:23:16,920 --> 00:23:19,240 Speaker 1: And if he's trying to spread that message kind of 473 00:23:20,000 --> 00:23:22,400 Speaker 1: at large, you know, maybe not even talking about bitcoin, 474 00:23:22,480 --> 00:23:26,479 Speaker 1: but just this idea of economic freedom and bringing in 475 00:23:26,640 --> 00:23:31,400 Speaker 1: capital and investing in your resources that your country naturally has. 476 00:23:31,600 --> 00:23:34,040 Speaker 1: I think that's amazing. I think it's incredible, and I 477 00:23:34,080 --> 00:23:36,560 Speaker 1: really really respect and admire him. Yeah, I think it's 478 00:23:36,600 --> 00:23:38,840 Speaker 1: definitely you have to have the long term perspective on that. 479 00:23:38,920 --> 00:23:41,560 Speaker 1: So if you look at like China, Um, President g 480 00:23:41,840 --> 00:23:44,399 Speaker 1: is like, now, I guess made himself the leader for 481 00:23:44,440 --> 00:23:47,120 Speaker 1: all eternity there um, But China is always like playing 482 00:23:47,160 --> 00:23:48,760 Speaker 1: this long game, whereas the United States, you know, each 483 00:23:48,760 --> 00:23:51,520 Speaker 1: president has like four year time frame. And yeah, um 484 00:23:51,640 --> 00:23:53,879 Speaker 1: Bukele is kind of doing some stuff that people call 485 00:23:53,920 --> 00:23:55,680 Speaker 1: it dictator because he's trying to make sure he stays 486 00:23:55,680 --> 00:23:59,120 Speaker 1: in power for longer than he should. Um. But when 487 00:23:59,160 --> 00:24:01,480 Speaker 1: you're trying to change to something like bitcoin, you have 488 00:24:01,560 --> 00:24:04,560 Speaker 1: to have this long term perspective, if you you know, 489 00:24:04,600 --> 00:24:07,480 Speaker 1: if he's judged on this whatever this year's performance was was, 490 00:24:07,520 --> 00:24:09,479 Speaker 1: and then bitcoin is down like all of a sudden, 491 00:24:09,480 --> 00:24:11,480 Speaker 1: you know, it's it's it's not good for him. But 492 00:24:11,600 --> 00:24:14,000 Speaker 1: on a on another note, I'm back to back to 493 00:24:14,040 --> 00:24:16,720 Speaker 1: El Salvador, but on a bigger note. Um, this week 494 00:24:16,760 --> 00:24:19,399 Speaker 1: we saw the i m F urges El Salvador to 495 00:24:19,480 --> 00:24:25,240 Speaker 1: eliminate bitcoin as legal tender like like what like? First 496 00:24:25,280 --> 00:24:28,040 Speaker 1: of all, um, well let me read this here. The 497 00:24:28,040 --> 00:24:30,840 Speaker 1: International Monetary Fund urged El Salvador on Tuesday to eliminate 498 00:24:30,840 --> 00:24:34,720 Speaker 1: the quality of legal tender um a Bitcoin while expressing 499 00:24:34,760 --> 00:24:39,080 Speaker 1: its quote concern about the issuance of cryptocurrency back bonds 500 00:24:39,320 --> 00:24:42,040 Speaker 1: that the country's government plans. Um. First of all, it's 501 00:24:42,040 --> 00:24:46,480 Speaker 1: not cryptocurrency backbonds, bitcoin back bonds. Um. So far, Bukeley 502 00:24:46,520 --> 00:24:49,359 Speaker 1: has not responded to the I m S demands. You 503 00:24:49,440 --> 00:24:52,320 Speaker 1: don't even know. In response, says in November he rejected 504 00:24:52,359 --> 00:24:55,560 Speaker 1: a report from the body warning of the underlying risk 505 00:24:55,640 --> 00:24:59,520 Speaker 1: for the country. M Boucailey not only ignored the agencies 506 00:24:59,560 --> 00:25:04,600 Speaker 1: recommended and but also responded with a mocking tone. Um. 507 00:25:04,680 --> 00:25:06,440 Speaker 1: And he says the option of bitcoin is a currency 508 00:25:06,520 --> 00:25:10,280 Speaker 1: generates a series of macroeconomic, financial, and legal issues that 509 00:25:10,320 --> 00:25:15,200 Speaker 1: require very careful analysis. Um. So the i m F 510 00:25:15,280 --> 00:25:20,639 Speaker 1: is saying, hey, hey, hey, this it creates legal issues 511 00:25:20,680 --> 00:25:24,840 Speaker 1: that require careful analysis. Um, shouldn't people just be able 512 00:25:24,840 --> 00:25:27,240 Speaker 1: to use whatever they want his money? Like, hey, Natalie, 513 00:25:27,240 --> 00:25:29,439 Speaker 1: would you uh would you take would you trade me 514 00:25:29,440 --> 00:25:30,919 Speaker 1: for this bottle of water? Would you trade me for 515 00:25:30,920 --> 00:25:33,560 Speaker 1: this phone? Or could I provide my labor? Like shouldn't 516 00:25:33,600 --> 00:25:35,960 Speaker 1: we be able to just freely exchange whatever we want 517 00:25:35,960 --> 00:25:39,840 Speaker 1: and whatever you consider money or medium exchange should be good? 518 00:25:40,440 --> 00:25:42,600 Speaker 1: I mean in theory, But how are they going to 519 00:25:42,720 --> 00:25:44,680 Speaker 1: tax that? How are they going to watch you do 520 00:25:44,720 --> 00:25:46,959 Speaker 1: that and take some of it and and know what 521 00:25:47,000 --> 00:25:48,840 Speaker 1: you're doing. I mean, this is all about what you 522 00:25:48,880 --> 00:25:52,560 Speaker 1: mentioned earlier. It's that power, and they're scared. They're scared 523 00:25:52,560 --> 00:25:55,800 Speaker 1: of losing the power that they have the prerogative and 524 00:25:55,800 --> 00:26:00,439 Speaker 1: and the monopoly over money and over being able to 525 00:26:00,480 --> 00:26:04,480 Speaker 1: control what what their citizens do. So I mean, yeah, 526 00:26:04,520 --> 00:26:06,640 Speaker 1: of course they're running scared. First of all, I don't 527 00:26:06,760 --> 00:26:10,240 Speaker 1: think they fully understand it. Um. Certainly the media outlets 528 00:26:10,280 --> 00:26:13,080 Speaker 1: that cover all of this, maybe they do understand it better. 529 00:26:13,119 --> 00:26:15,360 Speaker 1: They understand that they can get away from them. Yeah, 530 00:26:15,440 --> 00:26:19,720 Speaker 1: I mean, I true, But I still think maybe it's 531 00:26:19,720 --> 00:26:22,240 Speaker 1: the media then that that doesn't fully understand it. Because 532 00:26:22,240 --> 00:26:25,439 Speaker 1: when the media covers this and they conflate cryptocurrencies with 533 00:26:25,480 --> 00:26:27,600 Speaker 1: bitcoin and all of that, and they don't bring in 534 00:26:27,640 --> 00:26:30,359 Speaker 1: the points that they really need to about bitcoin and 535 00:26:30,480 --> 00:26:33,159 Speaker 1: why this network exists and the problem that it's supposed 536 00:26:33,200 --> 00:26:36,199 Speaker 1: to fix, like it kind of just you know, I 537 00:26:36,240 --> 00:26:38,840 Speaker 1: just I feel like so much gets lost between the headlines, 538 00:26:39,440 --> 00:26:41,479 Speaker 1: and um, the I m F is going to continue 539 00:26:41,480 --> 00:26:43,280 Speaker 1: to do this, and if another nation adopts it, which 540 00:26:43,280 --> 00:26:47,680 Speaker 1: apparently Max Kaiser knows the second nation that's going to legalize, they, um, 541 00:26:47,720 --> 00:26:48,919 Speaker 1: you know, the I m F is going to come 542 00:26:48,920 --> 00:26:51,919 Speaker 1: out against them too. And and like we talked about earlier, 543 00:26:51,960 --> 00:26:55,000 Speaker 1: this is a huge risk because it's so volatile right now. 544 00:26:55,040 --> 00:27:00,080 Speaker 1: I mean, imagine worst case scenario, you know, the the 545 00:27:00,720 --> 00:27:03,439 Speaker 1: feds credibility is lost, and all of a sudden, the 546 00:27:03,440 --> 00:27:07,600 Speaker 1: credit starts to unwind and we slide into some massive 547 00:27:07,640 --> 00:27:10,000 Speaker 1: deflationary bust. You don't think that will hit bitcoin, of 548 00:27:10,280 --> 00:27:12,679 Speaker 1: course it will hit bitcoin, And then what like what 549 00:27:12,760 --> 00:27:14,720 Speaker 1: if the price were to draw down at some point 550 00:27:14,760 --> 00:27:17,560 Speaker 1: to ten k you know, Michael Sailor and El Salvador 551 00:27:17,600 --> 00:27:20,240 Speaker 1: went in the thirties and forties as our average price, 552 00:27:20,320 --> 00:27:23,360 Speaker 1: Like what happens like this could really be tested over 553 00:27:23,400 --> 00:27:26,480 Speaker 1: the next couple of years. But ultimately, I mean this 554 00:27:26,560 --> 00:27:29,240 Speaker 1: is going to bring economic prosperity in the long runs. Yeah, 555 00:27:29,359 --> 00:27:30,920 Speaker 1: you have to play the long game, but I would 556 00:27:30,920 --> 00:27:32,680 Speaker 1: agree that's probably one of the biggest risks. If the 557 00:27:32,720 --> 00:27:35,560 Speaker 1: price stays depressed for a prolonged period of time, it 558 00:27:35,600 --> 00:27:37,360 Speaker 1: could be very bad and it would prevent the next 559 00:27:37,359 --> 00:27:39,399 Speaker 1: country from coming on board. You're listening to the Mark 560 00:27:39,440 --> 00:27:41,240 Speaker 1: Moa Show. We're talking about bitcoin. If you if you 561 00:27:41,320 --> 00:27:43,840 Speaker 1: haven't already caught on by now, Um, I'm in the 562 00:27:43,840 --> 00:27:46,040 Speaker 1: studio with Natalie Brunell talking about some of the hottest 563 00:27:46,040 --> 00:27:48,400 Speaker 1: breaking news of the week. We're back with more. Don't 564 00:27:48,400 --> 00:27:50,720 Speaker 1: go away, all right, welcome back. You're listening to the 565 00:27:50,720 --> 00:27:55,560 Speaker 1: Mark Moa Show talking about bitcoin, the decentralized revolution that's happening. 566 00:27:55,560 --> 00:27:58,160 Speaker 1: I'm in the studio with Natalie Brunel. You can find 567 00:27:58,160 --> 00:28:00,960 Speaker 1: her on Twitter at nat Brunell. Um. You should definitely 568 00:28:01,000 --> 00:28:05,240 Speaker 1: give her a follow, and uh check out her interviews, theories, 569 00:28:05,280 --> 00:28:08,040 Speaker 1: her podcast with that coins, coin Stories, coin Stories. I 570 00:28:08,040 --> 00:28:10,160 Speaker 1: was just on that last week, so at a minimum, 571 00:28:10,200 --> 00:28:13,320 Speaker 1: go watch my interview with Natalie coin Stories. Just check 572 00:28:13,400 --> 00:28:16,520 Speaker 1: out on your podcast player or on YouTube as well. 573 00:28:16,560 --> 00:28:19,199 Speaker 1: She does Uh. She asked some really good questions, but 574 00:28:19,240 --> 00:28:22,080 Speaker 1: I'm asking the questions this time because you're on my show. UM. 575 00:28:22,119 --> 00:28:25,359 Speaker 1: But UM, you know, one thing we were talking about 576 00:28:25,640 --> 00:28:28,760 Speaker 1: earlier was that, you know, understanding I would say all 577 00:28:28,760 --> 00:28:30,840 Speaker 1: the time, understand bitcoin is very difficult because it's so 578 00:28:30,880 --> 00:28:33,359 Speaker 1: many different things. UM. And I look at it as 579 00:28:33,400 --> 00:28:36,560 Speaker 1: like this thread that kind of permeates every area of life, 580 00:28:36,640 --> 00:28:39,360 Speaker 1: and it intersects all of our lives a little bit differently. UM. 581 00:28:39,400 --> 00:28:40,920 Speaker 1: For me, I kind of look at kind of a 582 00:28:40,960 --> 00:28:43,160 Speaker 1: little more of kind of like from a human action 583 00:28:43,200 --> 00:28:45,480 Speaker 1: on like this Austrian lens and this human action, which 584 00:28:45,520 --> 00:28:48,200 Speaker 1: is I don't want to say political, social, kind of 585 00:28:48,240 --> 00:28:51,320 Speaker 1: societal maybe we can call it that. And we talked 586 00:28:51,320 --> 00:28:54,040 Speaker 1: about we were talking about earlier about you know, all 587 00:28:54,080 --> 00:28:56,880 Speaker 1: these problems you were an investigative reporter before and all 588 00:28:56,880 --> 00:29:00,640 Speaker 1: these problems and how bitcoin keeps being the answer for this. Um. 589 00:29:00,680 --> 00:29:02,719 Speaker 1: And I was looking at some stories this week, and um, 590 00:29:04,320 --> 00:29:07,920 Speaker 1: the world has been continuing to well, it seems like 591 00:29:07,960 --> 00:29:10,000 Speaker 1: the world is coming out of these lockdowns, but then 592 00:29:10,000 --> 00:29:11,560 Speaker 1: some of the world is still trying to go in them. 593 00:29:11,600 --> 00:29:13,640 Speaker 1: And I was looking at this story happening in Canada, 594 00:29:13,680 --> 00:29:16,560 Speaker 1: our neighbors up to the north and there's like fifty 595 00:29:16,680 --> 00:29:20,720 Speaker 1: thousand UM truckers heading up there, like one point five 596 00:29:20,800 --> 00:29:24,680 Speaker 1: million people UM trying to show like, hey, this isn't 597 00:29:24,680 --> 00:29:27,280 Speaker 1: what we want. Is supposed to be a democracy, Like 598 00:29:27,280 --> 00:29:29,640 Speaker 1: we're voicing our opinions. And then you have like Trudeau 599 00:29:29,880 --> 00:29:32,720 Speaker 1: comes on the news and says these people are fringe, 600 00:29:32,800 --> 00:29:36,440 Speaker 1: they don't represent Canadians. Like, that's one point five million 601 00:29:36,480 --> 00:29:41,960 Speaker 1: people voicing their concerns. Um, go fund me stole their money. 602 00:29:42,640 --> 00:29:49,520 Speaker 1: Almost five million dollars was donated. Well they froze it. 603 00:29:49,560 --> 00:29:51,640 Speaker 1: What would you call that? People gave it to them 604 00:29:51,680 --> 00:29:54,840 Speaker 1: and they go fund Me didn't give it. So I 605 00:29:54,880 --> 00:29:57,280 Speaker 1: don't know, I don't know. I call it stealing the 606 00:29:57,360 --> 00:30:01,840 Speaker 1: man whatever. Um, that's a big problem, and like how 607 00:30:01,840 --> 00:30:04,440 Speaker 1: do you unravel that? Right? But like I look at it, like, 608 00:30:04,520 --> 00:30:08,840 Speaker 1: well you have one guy Central Planner saying he these 609 00:30:09,200 --> 00:30:11,160 Speaker 1: one point five million people telling us what they want 610 00:30:11,240 --> 00:30:13,920 Speaker 1: our fringe and we we don't. We don't listen to that. 611 00:30:13,960 --> 00:30:18,080 Speaker 1: We only listen to these people who we approve. How 612 00:30:18,120 --> 00:30:22,480 Speaker 1: does bitcoin impact a situation as big as that? Well, 613 00:30:22,560 --> 00:30:25,160 Speaker 1: it's interesting, right because now you can look at pretty 614 00:30:25,240 --> 00:30:29,760 Speaker 1: much any crisis that is unfolding in society at large 615 00:30:30,040 --> 00:30:33,200 Speaker 1: or in any country, and you can find how bitcoin 616 00:30:33,320 --> 00:30:35,440 Speaker 1: might fix or address some of the issues, which is 617 00:30:35,440 --> 00:30:37,960 Speaker 1: what kind of what I love about bitcoin, right, UM. 618 00:30:38,040 --> 00:30:40,200 Speaker 1: And so in this case, like I think, what's central 619 00:30:40,240 --> 00:30:43,920 Speaker 1: to it is this idea of freedom. Um. They have 620 00:30:44,040 --> 00:30:48,160 Speaker 1: taken so much economic freedom from us and now in 621 00:30:48,240 --> 00:30:54,720 Speaker 1: response to the pandemic and in order to kind of um, 622 00:30:54,760 --> 00:30:59,040 Speaker 1: in order to like reach the goals that they have 623 00:30:59,120 --> 00:31:01,240 Speaker 1: in order to I think, have more and more control 624 00:31:01,320 --> 00:31:04,640 Speaker 1: and more power. And they claim that it's for our good, 625 00:31:04,720 --> 00:31:07,200 Speaker 1: that that their intentions are so great. You know, they're 626 00:31:07,240 --> 00:31:10,840 Speaker 1: really ripping away people's fundamental freedoms. And I think, how 627 00:31:10,920 --> 00:31:12,360 Speaker 1: how are we ever going to get out of this 628 00:31:12,440 --> 00:31:16,880 Speaker 1: pandemic if we just continue these these mandates and expect 629 00:31:17,000 --> 00:31:19,760 Speaker 1: everyone to just you know, shut down their lives, shut 630 00:31:19,800 --> 00:31:24,040 Speaker 1: down their businesses, impact every aspect of their economic life 631 00:31:24,640 --> 00:31:29,480 Speaker 1: in order to please whatever central body is bringing these 632 00:31:29,600 --> 00:31:32,480 Speaker 1: roles down. I mean. And it's like the central bodies 633 00:31:32,640 --> 00:31:35,040 Speaker 1: they've gotten so big. I was I did this talk 634 00:31:35,080 --> 00:31:39,760 Speaker 1: with Congressman former Congressman Ron Paul the other day, and 635 00:31:39,800 --> 00:31:43,000 Speaker 1: I was talking about how, um, basically you have the 636 00:31:43,080 --> 00:31:46,360 Speaker 1: government and freedom, and they're on opposite ends. And so 637 00:31:46,440 --> 00:31:49,760 Speaker 1: the bigger the government gets, the less freedoms we have, 638 00:31:50,360 --> 00:31:52,200 Speaker 1: and the more freedoms we have, the smaller that government 639 00:31:52,240 --> 00:31:54,440 Speaker 1: has to get kind of thing. And so I showed 640 00:31:54,440 --> 00:31:57,800 Speaker 1: a chart from our friends over at wtf happened in 641 00:31:58,040 --> 00:32:02,040 Speaker 1: nineteen seventy one, which is what you got that website. 642 00:32:02,840 --> 00:32:06,600 Speaker 1: Ben in heavily armed clown did that, um, but it 643 00:32:06,680 --> 00:32:09,280 Speaker 1: showed how since nineteen seventy one, the amount of pages 644 00:32:09,280 --> 00:32:12,560 Speaker 1: in the Federal registrar has gone up like a rocket ship. 645 00:32:12,800 --> 00:32:14,640 Speaker 1: I mean, the amount of regulations and laws they put 646 00:32:14,640 --> 00:32:17,440 Speaker 1: into place. And so we just have this ever increasing, 647 00:32:17,560 --> 00:32:23,240 Speaker 1: ever expanding government and you have all these politicians there, legislators, 648 00:32:23,320 --> 00:32:26,239 Speaker 1: and what did legislators do? They legislate, So all they 649 00:32:26,240 --> 00:32:27,600 Speaker 1: do is sit there and write laws all the time. 650 00:32:28,240 --> 00:32:30,120 Speaker 1: And so that's the way that I look at It's 651 00:32:30,120 --> 00:32:32,640 Speaker 1: like we can sit there and pick, oh, what about 652 00:32:32,680 --> 00:32:35,120 Speaker 1: this mandate or this lockdown, but really it's just representative 653 00:32:35,160 --> 00:32:37,920 Speaker 1: this The government has just continue to get bigger, bigger, bigger, bigger, 654 00:32:37,920 --> 00:32:41,160 Speaker 1: bigger because they have this money printer they just keep printing. 655 00:32:41,800 --> 00:32:43,440 Speaker 1: If they had if the government actually had to live 656 00:32:43,440 --> 00:32:47,680 Speaker 1: on a budget off of real tax revenue exactly, way smaller, exactly. No. 657 00:32:47,880 --> 00:32:50,840 Speaker 1: I saw this, um, I saw this really great chart. 658 00:32:50,920 --> 00:32:52,600 Speaker 1: In fact, I'm gonna pull it up for you just 659 00:32:52,640 --> 00:32:54,440 Speaker 1: so at least we can talk about it, because I 660 00:32:54,440 --> 00:32:58,160 Speaker 1: saved it from Twitter, and it's, uh. It shows how 661 00:32:58,240 --> 00:33:01,560 Speaker 1: much we have in terms of our tax revenue and 662 00:33:01,560 --> 00:33:04,920 Speaker 1: then the revenue per citizen compared to our debt and 663 00:33:04,960 --> 00:33:08,000 Speaker 1: our liabilities are unfunded liabilities, and I mean, just look 664 00:33:08,040 --> 00:33:11,280 Speaker 1: at that, like it's already over. We are insolvent. We've 665 00:33:11,320 --> 00:33:17,240 Speaker 1: allowed the debt bubble to explode. Okay, So it says 666 00:33:17,240 --> 00:33:22,840 Speaker 1: our US federal tax revenue is for trillion dollars, the 667 00:33:22,880 --> 00:33:26,920 Speaker 1: revenue per citizens twelve thousand dollars compared to US national 668 00:33:27,000 --> 00:33:31,400 Speaker 1: debt twenty nine trillion dollars, debt per citizen eighty nine thousand, 669 00:33:31,520 --> 00:33:34,960 Speaker 1: debt per tax pair two hundred thirty eight thousand dollars, 670 00:33:35,040 --> 00:33:38,760 Speaker 1: and then the US unfunded liabilities are a hundred sixty 671 00:33:38,880 --> 00:33:42,800 Speaker 1: three trillion dollars liability per citizen four hundred nineties. I mean, 672 00:33:42,920 --> 00:33:45,360 Speaker 1: you got to laugh. It's like a hundred and sixty 673 00:33:45,400 --> 00:33:49,600 Speaker 1: three trillion What is that? I mean, we can never 674 00:33:49,640 --> 00:33:51,680 Speaker 1: pay it back. We will never pay it back. Now 675 00:33:51,680 --> 00:33:55,000 Speaker 1: we have negative yielding bonds. We this is it's over. 676 00:33:55,120 --> 00:33:56,880 Speaker 1: I talked about this with Greg Foss on my show. 677 00:33:57,200 --> 00:33:59,920 Speaker 1: It's already over. They can move the pieces around the 678 00:34:00,040 --> 00:34:02,240 Speaker 1: chess board or you know you mentioned on my show, 679 00:34:02,320 --> 00:34:04,239 Speaker 1: like the reset of you know you got you have 680 00:34:04,280 --> 00:34:06,719 Speaker 1: nothing left, you have no moves left, you got to reset. 681 00:34:07,200 --> 00:34:09,440 Speaker 1: It's over. And they kept kicking the can down the 682 00:34:09,520 --> 00:34:13,080 Speaker 1: road and they balloon the balance sheet. And I get it, 683 00:34:13,360 --> 00:34:16,080 Speaker 1: good intentions in response to the pandemic, but it's game 684 00:34:16,120 --> 00:34:18,239 Speaker 1: over here. It's good intentions. And so a lot of 685 00:34:18,239 --> 00:34:20,200 Speaker 1: people listening they're like, but I but I need these 686 00:34:20,239 --> 00:34:22,480 Speaker 1: government programs like it helped me go to school or 687 00:34:22,480 --> 00:34:24,560 Speaker 1: helped me to start my job, or it's given me retirement. 688 00:34:24,600 --> 00:34:26,279 Speaker 1: I get that, and and it has done a lot 689 00:34:26,320 --> 00:34:28,520 Speaker 1: of good things. And so to your point, good intentions, 690 00:34:28,520 --> 00:34:30,359 Speaker 1: I get it right, And we can pick any one 691 00:34:30,360 --> 00:34:32,320 Speaker 1: of these, but a lot of people have benefited from 692 00:34:32,360 --> 00:34:35,839 Speaker 1: you know, government assistance in housing or whatever, medicaid, whatever, 693 00:34:35,880 --> 00:34:37,640 Speaker 1: whatever it may be. There's lots of things that it 694 00:34:37,680 --> 00:34:41,040 Speaker 1: maybe has done good. But at what cost? Right, at 695 00:34:41,040 --> 00:34:44,160 Speaker 1: what what's the cost benefit analysis of this? So at 696 00:34:44,200 --> 00:34:48,040 Speaker 1: the cost of society breaking down. Like if you go 697 00:34:48,080 --> 00:34:54,399 Speaker 1: back to that website, WT have happened in or WT 698 00:34:54,520 --> 00:34:58,520 Speaker 1: have happened in one um. In my talk with Ron Paul, 699 00:34:58,560 --> 00:35:02,600 Speaker 1: I showed I think six charts and at nine and 700 00:35:02,640 --> 00:35:07,799 Speaker 1: the the the unwed mothers took off like a hockey stick, 701 00:35:08,080 --> 00:35:12,120 Speaker 1: the two people working took off stick, the incarceration rate, 702 00:35:12,800 --> 00:35:15,360 Speaker 1: the obesity rate, the amount of money spent on medical 703 00:35:15,360 --> 00:35:19,640 Speaker 1: build like that that society breaking down. So while I 704 00:35:19,719 --> 00:35:22,480 Speaker 1: get it, while some people have definitely benefit good, good, 705 00:35:22,480 --> 00:35:25,759 Speaker 1: good intentions, as you will, it's at what cost well, 706 00:35:25,800 --> 00:35:27,920 Speaker 1: and how much more would they have benefited if it 707 00:35:27,960 --> 00:35:30,520 Speaker 1: was a free market based on sound money and real 708 00:35:31,520 --> 00:35:34,080 Speaker 1: and real interest rates. We don't even know what the 709 00:35:34,120 --> 00:35:36,920 Speaker 1: price of a real bond is nowadays. I mean we've 710 00:35:37,040 --> 00:35:40,319 Speaker 1: we've distorted it and manipulated everything so much that you know, 711 00:35:40,360 --> 00:35:42,080 Speaker 1: I made this analogy on one of the shows I 712 00:35:42,120 --> 00:35:44,799 Speaker 1: was on. Were now like like an airplane flying without 713 00:35:44,840 --> 00:35:47,480 Speaker 1: an altimeter and we're about to crash into the mountain 714 00:35:47,520 --> 00:35:49,000 Speaker 1: and we will never We don't know if we're going 715 00:35:49,080 --> 00:35:51,480 Speaker 1: up or down. We don't know if anything is like, oh, 716 00:35:51,520 --> 00:35:53,879 Speaker 1: inflation is good. No, it's not like we've but we've 717 00:35:53,920 --> 00:35:56,200 Speaker 1: we've never lived outside of this system, so we can't 718 00:35:56,200 --> 00:35:58,799 Speaker 1: even imagine anything out of it. It's the bitcoiners that 719 00:35:58,840 --> 00:36:01,480 Speaker 1: have imagined something out of that, that have like ventured 720 00:36:01,520 --> 00:36:03,840 Speaker 1: out of the walls of the garden and they have 721 00:36:03,920 --> 00:36:07,000 Speaker 1: found Yosemite and this fertile land that we can plant 722 00:36:07,080 --> 00:36:09,160 Speaker 1: a new you know, we could create a new financial 723 00:36:09,239 --> 00:36:12,040 Speaker 1: order on And we're telling everyone come out of your box, 724 00:36:12,440 --> 00:36:15,480 Speaker 1: come outside of the walls and join us, because this 725 00:36:15,560 --> 00:36:18,319 Speaker 1: is freedom. This is like us at our core, who 726 00:36:18,360 --> 00:36:20,759 Speaker 1: we are supposed to be as humans. And yes, you 727 00:36:20,800 --> 00:36:23,560 Speaker 1: mentioned good intentions, but it's like these little changes that 728 00:36:24,000 --> 00:36:26,200 Speaker 1: if you had just allowed the market to function in 729 00:36:26,200 --> 00:36:30,640 Speaker 1: that Austrian economic way, it probably would have solved so 730 00:36:30,680 --> 00:36:33,520 Speaker 1: many more problems and and things would have worked itself out. 731 00:36:33,560 --> 00:36:36,480 Speaker 1: Mal investments would have worked themselves out, as opposed to 732 00:36:36,520 --> 00:36:40,440 Speaker 1: ballooning the debt and put kicking the debt and the 733 00:36:40,480 --> 00:36:43,640 Speaker 1: burden to future generations. The way that these programs that 734 00:36:43,680 --> 00:36:46,040 Speaker 1: are supposed to help you, like Social Security and all 735 00:36:46,080 --> 00:36:50,439 Speaker 1: of that, it hurts the people down the road. Yeah, 736 00:36:50,480 --> 00:36:52,480 Speaker 1: it's the Cobra effect. If you guys don't know what 737 00:36:52,520 --> 00:36:54,600 Speaker 1: that is. It's been a second in Google that story. 738 00:36:54,600 --> 00:36:57,160 Speaker 1: It's about the cobras in India. But that's what happens. 739 00:36:57,160 --> 00:37:02,439 Speaker 1: It's unintended consequences. My you know, well, I'm not gonna 740 00:37:02,440 --> 00:37:03,880 Speaker 1: get into this whole story. We don't have time for that. 741 00:37:04,400 --> 00:37:06,680 Speaker 1: But yeah, the unintens of consequences. They they're good things, 742 00:37:06,719 --> 00:37:09,680 Speaker 1: but at what cost to society? And what I would say, 743 00:37:09,760 --> 00:37:11,560 Speaker 1: some people think that that bitcoin can't work with a 744 00:37:11,600 --> 00:37:13,879 Speaker 1: fixed supply, So I would just ask you to ask 745 00:37:13,920 --> 00:37:16,200 Speaker 1: yourself the question, would you rather your money buy you 746 00:37:16,480 --> 00:37:19,440 Speaker 1: more goods and services in the future or less? So 747 00:37:19,520 --> 00:37:21,279 Speaker 1: you can think about that. Thanks for listening to the 748 00:37:21,280 --> 00:37:25,200 Speaker 1: markma Show. We're talking about bitcoin, cryptocurrencies, and the decentralized revolution. 749 00:37:25,400 --> 00:37:27,040 Speaker 1: Hope you enjoyed it. Thanks for listening.