1 00:00:00,040 --> 00:00:02,680 Speaker 1: Hey, everyone, Welcome to another episode of The Mark Moss 2 00:00:02,759 --> 00:00:05,760 Speaker 1: Show where we talk about bitcoin. We talk about the 3 00:00:05,840 --> 00:00:10,520 Speaker 1: decentralized revolution that is happening right now. And you know, 4 00:00:10,560 --> 00:00:12,559 Speaker 1: each and every week I'm trying to bring to you 5 00:00:12,640 --> 00:00:16,000 Speaker 1: the latest information, the latest education, and some of the 6 00:00:16,040 --> 00:00:18,160 Speaker 1: best and brightest people in the space, so you can 7 00:00:18,280 --> 00:00:22,119 Speaker 1: understand exactly what is going on now. Hang on, hang on, 8 00:00:22,160 --> 00:00:24,840 Speaker 1: hang on, hang on now. Don't dismiss it so easily. 9 00:00:24,880 --> 00:00:27,080 Speaker 1: One of the biggest problems that I see with people 10 00:00:27,120 --> 00:00:31,040 Speaker 1: today in bitcoin is that they think they understand it 11 00:00:31,080 --> 00:00:33,040 Speaker 1: too quickly, or some people say they don't understand it 12 00:00:33,200 --> 00:00:35,959 Speaker 1: it's too too difficult, and um, neither one of those 13 00:00:36,000 --> 00:00:39,159 Speaker 1: are true. So bitcoin is a lot of things. It's 14 00:00:39,159 --> 00:00:41,120 Speaker 1: a lot of things, and it's so new, it's so 15 00:00:41,240 --> 00:00:44,440 Speaker 1: revolutionary that we don't even understand all the things it 16 00:00:44,520 --> 00:00:47,400 Speaker 1: will become it is today, will become and the impact 17 00:00:47,440 --> 00:00:50,879 Speaker 1: that it will make in the future. Imagine a few 18 00:00:50,960 --> 00:00:54,800 Speaker 1: hundred years ago, sitting around table and uh, you know, 19 00:00:55,680 --> 00:00:59,720 Speaker 1: we had just seen the invention of electricity, and what 20 00:00:59,760 --> 00:01:01,200 Speaker 1: would how to do as humans as we try to 21 00:01:01,280 --> 00:01:03,520 Speaker 1: understand what is this? What is this new technology? And 22 00:01:03,520 --> 00:01:06,840 Speaker 1: so we try to Um, compare it to something that 23 00:01:06,880 --> 00:01:09,640 Speaker 1: we know, so we can try to understand what it is. 24 00:01:09,680 --> 00:01:12,560 Speaker 1: We might have said electricity was what is that. It's 25 00:01:12,600 --> 00:01:17,440 Speaker 1: like a digital candle, right, it produced light. Previous before electricity, 26 00:01:17,720 --> 00:01:20,839 Speaker 1: all light for all of humanity had come from fire, 27 00:01:21,560 --> 00:01:24,080 Speaker 1: and now all of a sudden, we electricity. So what 28 00:01:24,160 --> 00:01:25,800 Speaker 1: is electricity? I don't know what it is. Well, it's 29 00:01:25,840 --> 00:01:28,839 Speaker 1: kind of like a digital candle, right, um. And people 30 00:01:28,920 --> 00:01:30,479 Speaker 1: might say, well, why do we need that? That doesn't 31 00:01:30,480 --> 00:01:32,480 Speaker 1: make any sense. Like a candle's way better. Look a 32 00:01:32,520 --> 00:01:33,920 Speaker 1: candle is easy and I can pick it up, I 33 00:01:33,920 --> 00:01:36,080 Speaker 1: can move it. It's portable, and look, I don't need 34 00:01:36,080 --> 00:01:37,880 Speaker 1: all these wires and all this other stuff, right, like 35 00:01:37,959 --> 00:01:41,640 Speaker 1: a candle's way better. Electricity stupid. It's a waste of 36 00:01:41,720 --> 00:01:43,560 Speaker 1: it's a waste of time. It's a waste of money. 37 00:01:44,160 --> 00:01:48,240 Speaker 1: Candles are better. Um. And you know, maybe that was 38 00:01:48,320 --> 00:01:53,200 Speaker 1: true at that point, But what was electricity? While that 39 00:01:53,280 --> 00:01:57,440 Speaker 1: might have been an application of the technology to produce light, 40 00:01:57,840 --> 00:02:02,400 Speaker 1: the technology itself was so much more, and it became 41 00:02:02,520 --> 00:02:05,520 Speaker 1: so much more. The fact that you're listening to me 42 00:02:05,720 --> 00:02:10,040 Speaker 1: today right now is because that's what electricity is doing. 43 00:02:10,080 --> 00:02:13,360 Speaker 1: So while the application of providing light at the time 44 00:02:13,520 --> 00:02:18,880 Speaker 1: was the best application of electricity. That wasn't what defined electricity. 45 00:02:18,880 --> 00:02:23,240 Speaker 1: Electricity was a new technology that has given us so 46 00:02:23,360 --> 00:02:25,160 Speaker 1: much more. It has the light on me right now, 47 00:02:25,160 --> 00:02:27,200 Speaker 1: and it's powering this microphone that I'm talking to you on, 48 00:02:27,440 --> 00:02:29,160 Speaker 1: and it's powering the computers that are plugged in the 49 00:02:29,160 --> 00:02:31,880 Speaker 1: walls that are sitting this transmission across time and space. 50 00:02:32,400 --> 00:02:36,880 Speaker 1: And so electricity has multiple there's multiple applications of electricity, 51 00:02:37,120 --> 00:02:39,720 Speaker 1: and I would think about the same about bitcoin. So 52 00:02:39,720 --> 00:02:42,240 Speaker 1: we're trying to understand what bitcoin is as a new technology, 53 00:02:42,240 --> 00:02:46,880 Speaker 1: as a technological revolution, and right now, maybe the best 54 00:02:46,919 --> 00:02:51,520 Speaker 1: application for that is money, digital cash, right, store of value, 55 00:02:51,560 --> 00:02:56,320 Speaker 1: et cetera. But that that technology, Bitcoin is a technological revolution. 56 00:02:56,320 --> 00:03:01,000 Speaker 1: Bitcoin as a decentralized network can have lots of other applications. 57 00:03:01,040 --> 00:03:02,959 Speaker 1: Let's let's look at another example. So like the Internet. 58 00:03:03,000 --> 00:03:07,360 Speaker 1: For example, when the Internet first came out, the killer 59 00:03:07,440 --> 00:03:13,600 Speaker 1: application for Internet was email, electronic mail, electronic messages. And 60 00:03:13,919 --> 00:03:15,880 Speaker 1: at the time, what is this Internet thing. Well, it's 61 00:03:15,919 --> 00:03:17,919 Speaker 1: kind of like a way we can communicate across. These 62 00:03:17,919 --> 00:03:20,320 Speaker 1: message boards become messages up, we can send these electronic 63 00:03:20,320 --> 00:03:23,680 Speaker 1: messages and it was it was that that was the 64 00:03:24,000 --> 00:03:28,959 Speaker 1: that was an unapplication, a killer application for Internet. But 65 00:03:29,000 --> 00:03:33,080 Speaker 1: of course Internet is so much more. The Internet technology, 66 00:03:33,360 --> 00:03:36,840 Speaker 1: the Internet network has now allowed us to again do 67 00:03:36,880 --> 00:03:38,640 Speaker 1: what I'm doing. I'm using the Internet to broadcast this 68 00:03:38,960 --> 00:03:41,280 Speaker 1: um it allows you know, the differences of my personal 69 00:03:41,320 --> 00:03:44,400 Speaker 1: website or Facebook personal website, by the way, is one 70 00:03:44,400 --> 00:03:48,760 Speaker 1: Mark Moss dot com. But the website or Facebook or Netflix, 71 00:03:48,800 --> 00:03:54,880 Speaker 1: which are all different applications using the Internet technology. All right, 72 00:03:54,960 --> 00:03:58,960 Speaker 1: And so when bitcoin, what is it? It's a new network. 73 00:03:59,000 --> 00:04:01,640 Speaker 1: It's a new network that transfers values. So the Internet 74 00:04:01,640 --> 00:04:06,800 Speaker 1: transfers info, the Bitcoin network transfers value. And what what 75 00:04:06,880 --> 00:04:09,040 Speaker 1: does that mean? What's the what's the application? Where the 76 00:04:09,040 --> 00:04:12,800 Speaker 1: application is money storing value, et cetera. But it can 77 00:04:12,880 --> 00:04:15,560 Speaker 1: become so much more. So that's why it's hard to understand. 78 00:04:15,680 --> 00:04:18,400 Speaker 1: Now if we just look at money on its own, 79 00:04:18,960 --> 00:04:21,400 Speaker 1: if it can if it can give us a better 80 00:04:21,480 --> 00:04:23,600 Speaker 1: form of money, what does that even mean? Do we 81 00:04:23,640 --> 00:04:25,839 Speaker 1: even have a problem with money? And so we have 82 00:04:25,920 --> 00:04:29,000 Speaker 1: to even just dig into that piece. And so I 83 00:04:29,040 --> 00:04:31,039 Speaker 1: guess what I'm trying to highlight to you is that 84 00:04:31,160 --> 00:04:34,279 Speaker 1: there are some deep, deep, deep rabbit holes that we 85 00:04:34,320 --> 00:04:37,359 Speaker 1: can dig into to try to understand what bitcoin is 86 00:04:37,360 --> 00:04:40,200 Speaker 1: and ultimately try to understand where it's going, how it 87 00:04:40,200 --> 00:04:42,320 Speaker 1: will impact our lives. And it's important for you to 88 00:04:42,400 --> 00:04:46,000 Speaker 1: understand because this is the biggest revolution that we will 89 00:04:46,040 --> 00:04:48,720 Speaker 1: ever see. It's the biggest opportunity that you'll ever see. 90 00:04:48,720 --> 00:04:50,800 Speaker 1: And if you don't understand it, if you if you go, oh, 91 00:04:50,839 --> 00:04:52,320 Speaker 1: I get, it's kind of like digital cash. I don't 92 00:04:52,320 --> 00:04:55,520 Speaker 1: need digital cast. It's cash. It's worthless. It's not worth 93 00:04:55,600 --> 00:04:58,520 Speaker 1: my time anymore. You're gonna be missing out. You're gonna 94 00:04:58,520 --> 00:04:59,920 Speaker 1: be missing out really big. And I see a lot 95 00:04:59,920 --> 00:05:02,440 Speaker 1: of people make that mistake where they think they understand 96 00:05:02,480 --> 00:05:05,240 Speaker 1: it and then they dismiss it. I get, it's like 97 00:05:05,240 --> 00:05:07,080 Speaker 1: digital cash. I don't care about digital cash. We don't 98 00:05:07,080 --> 00:05:09,719 Speaker 1: need digital cash. Visa works good, Venmo works good. What 99 00:05:09,760 --> 00:05:12,000 Speaker 1: do we need it for? Right. It's a very US 100 00:05:12,040 --> 00:05:16,400 Speaker 1: centric frame of mind, by the way, um, and so 101 00:05:16,480 --> 00:05:19,159 Speaker 1: people are easily to dismiss it, or the opposite. People say, 102 00:05:19,160 --> 00:05:21,200 Speaker 1: like I said, it's too complicated, I don't understand it. 103 00:05:21,240 --> 00:05:23,520 Speaker 1: And so it can be simple where let's just understand 104 00:05:23,520 --> 00:05:26,080 Speaker 1: this one application today and then you can just kind 105 00:05:26,080 --> 00:05:27,320 Speaker 1: of keep you in the back of your mind that 106 00:05:27,320 --> 00:05:30,800 Speaker 1: there may be other applications in the future. Now, the 107 00:05:30,880 --> 00:05:34,200 Speaker 1: killer app on bitcoin today is of course money, and 108 00:05:34,400 --> 00:05:38,320 Speaker 1: most people don't even know what money is, which sounds 109 00:05:38,360 --> 00:05:42,120 Speaker 1: kind of crazy, right, Um, do you know what money is? 110 00:05:42,480 --> 00:05:44,359 Speaker 1: Think about that? I think about that question. Do you 111 00:05:44,360 --> 00:05:45,840 Speaker 1: know what money is? Do you know what makes a 112 00:05:45,880 --> 00:05:50,040 Speaker 1: good money a bad money? Most people probably never stopped 113 00:05:50,120 --> 00:05:52,919 Speaker 1: to even think about that. So um, and if you 114 00:05:52,920 --> 00:05:55,360 Speaker 1: don't understand what money is, then you don't understand how 115 00:05:55,480 --> 00:05:59,080 Speaker 1: different types of money affect different things, and how manipulating 116 00:05:59,080 --> 00:06:03,039 Speaker 1: the money call, there's other manipulations that may warrant or 117 00:06:03,080 --> 00:06:07,599 Speaker 1: may produce unintended consequences. Now, what the heck am I 118 00:06:07,680 --> 00:06:10,039 Speaker 1: even saying? Am I spinning in circles here? Well? Not really? 119 00:06:10,440 --> 00:06:14,600 Speaker 1: So today I should say This week, um, depend on 120 00:06:14,640 --> 00:06:18,400 Speaker 1: when you're listening to it. This week we saw the 121 00:06:18,400 --> 00:06:21,599 Speaker 1: Federal Reserve, the government of the United States, the Bureau 122 00:06:21,600 --> 00:06:24,600 Speaker 1: of Labor Statistics, the BLS put out a report on 123 00:06:24,760 --> 00:06:29,680 Speaker 1: the CPI, which is the Consumer Price Index. And basically 124 00:06:29,760 --> 00:06:33,200 Speaker 1: the Consumer Press Index is it measures inflation. And when 125 00:06:33,200 --> 00:06:35,640 Speaker 1: they're measuring inflation, what they're trying to measure is what 126 00:06:35,800 --> 00:06:40,080 Speaker 1: the prices of goods and services are. And so basically 127 00:06:40,080 --> 00:06:41,560 Speaker 1: what they would do is if you went to the shop, 128 00:06:41,600 --> 00:06:44,080 Speaker 1: if you went to the grocery store. Um, let's say 129 00:06:44,160 --> 00:06:47,480 Speaker 1: in the eighties, so whatever, forty years ago, you went 130 00:06:47,520 --> 00:06:49,919 Speaker 1: to the grocery store and you bought a basket of goods. 131 00:06:50,080 --> 00:06:51,960 Speaker 1: So you put some steak in there, you put some 132 00:06:52,040 --> 00:06:54,120 Speaker 1: milk in there, you put some cheese and some eggs, 133 00:06:54,160 --> 00:06:56,560 Speaker 1: and you put some bread, and you put some whatever. Right, 134 00:06:57,240 --> 00:06:59,200 Speaker 1: you bought that basket of goods, and then you went 135 00:06:59,240 --> 00:07:01,320 Speaker 1: and checked out, and your receipt came out to a 136 00:07:01,440 --> 00:07:06,679 Speaker 1: hundred bucks whatever, um. And then over time, how much 137 00:07:06,760 --> 00:07:12,440 Speaker 1: does that that basket of good change? And so over time, uh, 138 00:07:12,560 --> 00:07:14,640 Speaker 1: the price of steak and milk and cheese and eggs 139 00:07:14,680 --> 00:07:16,920 Speaker 1: and bread all went up. And so they try to 140 00:07:16,960 --> 00:07:19,960 Speaker 1: measure inflation based off of that basket of goods. That's 141 00:07:20,000 --> 00:07:23,600 Speaker 1: CPI consumer price indexes. Now, some people try to make 142 00:07:23,640 --> 00:07:26,680 Speaker 1: this a very academic argument, and they might tell you that, 143 00:07:27,760 --> 00:07:31,360 Speaker 1: you know, we haven't had any inflation since two thoight, 144 00:07:31,560 --> 00:07:33,680 Speaker 1: and I'm like, really, because all the stock indexes and 145 00:07:33,720 --> 00:07:36,080 Speaker 1: gold and real estate are all up. Oh, well, Mark, 146 00:07:36,080 --> 00:07:39,440 Speaker 1: you're talking about asset price inflation. I'm talking about consumer 147 00:07:39,480 --> 00:07:41,400 Speaker 1: price inflation, and so they try to kind of get 148 00:07:41,440 --> 00:07:45,320 Speaker 1: it very difficult for you to understand. Um. And that's ridiculous. Right, 149 00:07:45,760 --> 00:07:49,440 Speaker 1: I'm a consumer. I bought a house. If the price 150 00:07:49,440 --> 00:07:51,800 Speaker 1: of the houses went up, you're calling that asset price inflation. 151 00:07:51,880 --> 00:07:55,520 Speaker 1: I call the consumer price inflation. It's pretty ridiculous. But anyway, 152 00:07:55,560 --> 00:07:58,760 Speaker 1: we have this CPI basket. The BLS puts out and 153 00:07:59,000 --> 00:08:01,280 Speaker 1: like I said, just this week they put out the 154 00:08:01,400 --> 00:08:06,400 Speaker 1: new report and it is a record breaker, and and 155 00:08:06,520 --> 00:08:09,440 Speaker 1: it broke the previous record that we had set last 156 00:08:09,480 --> 00:08:12,040 Speaker 1: time it came around. So the previous cp I we 157 00:08:12,080 --> 00:08:15,480 Speaker 1: call it a print. The CPI numbers were seven percent interest, 158 00:08:15,520 --> 00:08:19,600 Speaker 1: which was a four decade long record that had been 159 00:08:19,640 --> 00:08:25,240 Speaker 1: standing seven and we just broke it to seven point five. 160 00:08:26,080 --> 00:08:28,280 Speaker 1: That's a big increase, a really big increase. Now, just 161 00:08:28,280 --> 00:08:31,560 Speaker 1: to put this into perspective, they're saying that prices are 162 00:08:31,560 --> 00:08:34,760 Speaker 1: going up by seven point five percent. What they're really saying, though, 163 00:08:35,240 --> 00:08:37,080 Speaker 1: is not that prices are going up by seven point 164 00:08:37,080 --> 00:08:40,200 Speaker 1: five percent. What they're really saying is that your dollar, 165 00:08:40,960 --> 00:08:45,360 Speaker 1: the purchasing power of your money, has lost seven and 166 00:08:45,400 --> 00:08:49,840 Speaker 1: a half percent of its purchasing power. So if you 167 00:08:49,920 --> 00:08:53,360 Speaker 1: if you think about that, that means over two years 168 00:08:53,480 --> 00:08:57,600 Speaker 1: you've lost fifteen percent. Over four years, you've lost over 169 00:08:57,960 --> 00:09:01,199 Speaker 1: thirty percent of your purchase in power. So that means, 170 00:09:01,559 --> 00:09:04,440 Speaker 1: you know, a dollar still worth a dollar, right, Well, 171 00:09:04,480 --> 00:09:06,040 Speaker 1: a dollar is still worth a dollar, but that dollar 172 00:09:06,120 --> 00:09:07,840 Speaker 1: doesn't buy you as many goods and services. So if 173 00:09:07,840 --> 00:09:11,160 Speaker 1: you had a thousand dollars in the bank today, in 174 00:09:11,280 --> 00:09:14,160 Speaker 1: four years from now, it only buys you about six 175 00:09:14,240 --> 00:09:16,520 Speaker 1: or seven hundred dollars worth of goods that you could 176 00:09:16,520 --> 00:09:19,199 Speaker 1: buy today. That's what that means. And so what that 177 00:09:19,240 --> 00:09:24,800 Speaker 1: means is that when that inflation number goes up, your 178 00:09:24,920 --> 00:09:28,480 Speaker 1: money literally has been stolen from you because you can't 179 00:09:28,480 --> 00:09:30,000 Speaker 1: buy as many goods and services as you could have 180 00:09:30,040 --> 00:09:33,760 Speaker 1: bought before. So homes, the value of my home went up, No, 181 00:09:34,080 --> 00:09:37,080 Speaker 1: the value of your home didn't go up. The value 182 00:09:37,080 --> 00:09:39,440 Speaker 1: of the dollar, the purchasing power of the dollar went down, 183 00:09:39,440 --> 00:09:42,880 Speaker 1: and it just takes more dollars to buy that home today. 184 00:09:42,960 --> 00:09:46,600 Speaker 1: And that's illustrated in this cp I report that happened. 185 00:09:46,880 --> 00:09:50,840 Speaker 1: And like I said, it's a massive blowout report, seven 186 00:09:50,880 --> 00:09:53,480 Speaker 1: and a half percent versus what the Fed was hoping 187 00:09:53,640 --> 00:09:59,400 Speaker 1: and expecting of only being two percent. But what does 188 00:09:59,440 --> 00:10:01,840 Speaker 1: that really mean to us? What does this mean to bitcoin? 189 00:10:01,880 --> 00:10:04,920 Speaker 1: Why am I even talking about this on a Bitcoin conversation? Uh? 190 00:10:04,960 --> 00:10:08,319 Speaker 1: And more importantly, what's the real number? Because I'm here 191 00:10:08,320 --> 00:10:10,199 Speaker 1: to tell you that this is not cp I, It's 192 00:10:10,240 --> 00:10:14,080 Speaker 1: more like cp LIE. It's a CPLI, it's a government 193 00:10:14,640 --> 00:10:18,560 Speaker 1: manipulated statistics. I'm about a breakdown. What's really in this number, 194 00:10:18,559 --> 00:10:20,520 Speaker 1: what's really driving it, Why the Fed isn't able to 195 00:10:20,520 --> 00:10:24,000 Speaker 1: stop this, and of course, how Bitcoin fixes this, fix 196 00:10:24,040 --> 00:10:26,320 Speaker 1: the money, fix the world. You're listening to the Mark 197 00:10:26,440 --> 00:10:28,319 Speaker 1: mos Show. We're talking about bitcoin. We're talking about the 198 00:10:28,360 --> 00:10:31,960 Speaker 1: decentralized revolution. We're talking about the CPI numbers that just 199 00:10:32,000 --> 00:10:34,480 Speaker 1: came out, breaking all records, and how bitcoin can fix this. 200 00:10:34,559 --> 00:10:36,719 Speaker 1: We're back with more. All right, welcome back. You are 201 00:10:36,800 --> 00:10:39,240 Speaker 1: listening to the Mark mo Show. We're talking about bitcoin. 202 00:10:39,320 --> 00:10:43,400 Speaker 1: We're talking about the decentralized revolution that is happening. You know, 203 00:10:43,600 --> 00:10:46,080 Speaker 1: it's Uh, in my opinion, it's changing a lot of 204 00:10:46,080 --> 00:10:47,840 Speaker 1: things in the world. Of course, I highlighted that in 205 00:10:47,880 --> 00:10:51,360 Speaker 1: the first UM segment. Hopefully you did miss it. If 206 00:10:51,400 --> 00:10:54,480 Speaker 1: you did, don't ever let that happen again, if you're 207 00:10:54,480 --> 00:10:56,840 Speaker 1: not driving, pull your phone out right now. Put a 208 00:10:56,880 --> 00:10:59,360 Speaker 1: reminder to join me on this channel at this time 209 00:10:59,440 --> 00:11:01,880 Speaker 1: each every week, where I promise it will be the 210 00:11:01,920 --> 00:11:06,080 Speaker 1: most important, the most educational, and the most profitable part 211 00:11:06,120 --> 00:11:08,760 Speaker 1: of your week. Now, before the segment, I was talking 212 00:11:08,760 --> 00:11:11,560 Speaker 1: about the c p I, the consumer price index number, 213 00:11:12,040 --> 00:11:16,559 Speaker 1: the blowout number that just was released, breaking records again 214 00:11:17,120 --> 00:11:18,920 Speaker 1: again and again and again. We broke a record at 215 00:11:18,920 --> 00:11:20,840 Speaker 1: seven percent inflation. Now where it's seven and a half 216 00:11:20,840 --> 00:11:24,520 Speaker 1: percent inflation. Food inflation is seven point three percent. It's 217 00:11:24,559 --> 00:11:30,120 Speaker 1: the highest sense, which is amazing. Why is it doing that? Uh? 218 00:11:30,160 --> 00:11:32,440 Speaker 1: And more importantly, what does it mean? And what does 219 00:11:32,559 --> 00:11:34,240 Speaker 1: what does you have to do with bitcoin? Right? Well, 220 00:11:34,920 --> 00:11:36,520 Speaker 1: I guess a couple of things. So the first thing 221 00:11:36,600 --> 00:11:39,480 Speaker 1: is that um, First of all, trying to put a 222 00:11:39,480 --> 00:11:43,439 Speaker 1: single number onto inflation like seven percent is ridiculous. It's 223 00:11:43,440 --> 00:11:47,720 Speaker 1: absolutely ridiculous. You could not measure the volume of water 224 00:11:47,760 --> 00:11:51,360 Speaker 1: in a bathtub with simple arithmetic. You can't measure the 225 00:11:51,360 --> 00:11:55,240 Speaker 1: wind drag coefficient of a jet plane with simple arithmetic, 226 00:11:55,360 --> 00:11:59,360 Speaker 1: nor can you measure the inflation of the economy with 227 00:11:59,520 --> 00:12:02,520 Speaker 1: a seeing number or arithmetic. I mean, if you think 228 00:12:02,559 --> 00:12:05,400 Speaker 1: about it, there's seven and a half billion people approximately 229 00:12:05,400 --> 00:12:07,280 Speaker 1: in the world, hundreds of millions of people in the 230 00:12:07,320 --> 00:12:11,920 Speaker 1: United States. There's trillions of inputs that go into prices, 231 00:12:12,200 --> 00:12:15,120 Speaker 1: trillions of inputs that go into prices, and so they 232 00:12:15,280 --> 00:12:19,679 Speaker 1: they're all different. What inflation really is is the increase 233 00:12:19,760 --> 00:12:22,280 Speaker 1: in the money supply. So when the Federal Reserved, the 234 00:12:22,280 --> 00:12:25,959 Speaker 1: Central Bank, the central banks of the world create more money, 235 00:12:26,000 --> 00:12:29,240 Speaker 1: they increase, they inflate the monetary supply. Like a balloon. 236 00:12:29,720 --> 00:12:31,240 Speaker 1: If I was going to have a balloon, and I 237 00:12:31,280 --> 00:12:34,400 Speaker 1: would inflate a balloon, right, I would inflate it by 238 00:12:34,480 --> 00:12:37,600 Speaker 1: putting more air into the balloon, increasing the volume of 239 00:12:37,600 --> 00:12:39,439 Speaker 1: the air that inflates the balloon, and the same with 240 00:12:39,480 --> 00:12:43,400 Speaker 1: the money monetor supply. Inflation is putting more money into 241 00:12:43,440 --> 00:12:46,920 Speaker 1: the balloon, putting more money, inflating the volume of the money. 242 00:12:46,960 --> 00:12:51,000 Speaker 1: That's what inflation is. The prices is the result of that. 243 00:12:51,679 --> 00:12:54,920 Speaker 1: When I increase the monetary supply, the prices go all 244 00:12:54,960 --> 00:12:59,160 Speaker 1: over the place. Now home on the lakefront Lake Travis 245 00:12:59,240 --> 00:13:01,000 Speaker 1: outside of Austin in Texas. I have a buddy that 246 00:13:01,000 --> 00:13:02,640 Speaker 1: bought a home for ten million dollars a year ago. 247 00:13:02,640 --> 00:13:05,079 Speaker 1: Just hold it for five million dollars. That's a hundred 248 00:13:05,080 --> 00:13:09,000 Speaker 1: and fifty percent increase in real estate there, but nationally 249 00:13:09,040 --> 00:13:13,400 Speaker 1: it went up about thirty five percent, so average a 250 00:13:13,520 --> 00:13:15,680 Speaker 1: hundred and fifty percent there. In some areas it probably 251 00:13:15,720 --> 00:13:18,280 Speaker 1: went up ten percent or fifteen percent. So inflation is 252 00:13:18,280 --> 00:13:20,600 Speaker 1: different to different people depending on where you're buying a home. 253 00:13:20,960 --> 00:13:23,760 Speaker 1: If I'm trying to send my kids to college and 254 00:13:23,800 --> 00:13:26,760 Speaker 1: by a home on Lake Travis, inflation is hitting me very, 255 00:13:26,840 --> 00:13:29,160 Speaker 1: very hard. And if you live in your parents basement 256 00:13:29,200 --> 00:13:31,680 Speaker 1: and you watch Netflix and eat Cheetos, you don't even 257 00:13:31,679 --> 00:13:34,600 Speaker 1: notice inflation. Well maybe Netflix went up by a buck, right, 258 00:13:34,720 --> 00:13:36,920 Speaker 1: you don't even notice it. And so inflation means a 259 00:13:36,960 --> 00:13:38,480 Speaker 1: lot of different things to a lot of different people. 260 00:13:38,800 --> 00:13:41,240 Speaker 1: You can't put a single number on it. But what 261 00:13:41,280 --> 00:13:43,920 Speaker 1: you can put a single number on is the money supply. 262 00:13:44,120 --> 00:13:46,160 Speaker 1: As they increase the monetary supply. And we know that 263 00:13:46,440 --> 00:13:48,319 Speaker 1: the Central Bank of the United States, the Federal Reserve, 264 00:13:48,440 --> 00:13:51,920 Speaker 1: increased the monetary supply by approximately thirty five percent in 265 00:13:51,960 --> 00:13:54,640 Speaker 1: the last two years, and so if the monetary supply 266 00:13:54,640 --> 00:13:57,720 Speaker 1: increased by then, it kind of makes sense why the 267 00:13:57,880 --> 00:14:00,640 Speaker 1: average home price went up by thirty five percent and 268 00:14:01,000 --> 00:14:06,000 Speaker 1: use cars are up by and steak is up and etcetera. Right, 269 00:14:06,200 --> 00:14:08,719 Speaker 1: things like that, And what does this have to do 270 00:14:08,720 --> 00:14:12,040 Speaker 1: with inflation, Well, that is the inflation. They're measuring consumer 271 00:14:12,120 --> 00:14:16,720 Speaker 1: price inflation, which is the result, it's the outcome of 272 00:14:16,760 --> 00:14:19,240 Speaker 1: printing all that money. And so the Federal Reserve now 273 00:14:19,320 --> 00:14:22,520 Speaker 1: is saying they're going to combat They're going to fight inflation. 274 00:14:23,120 --> 00:14:26,640 Speaker 1: What's funny because they're the ones that created it in 275 00:14:26,680 --> 00:14:29,200 Speaker 1: the first place. They created the inflation. Now they're gonna 276 00:14:29,240 --> 00:14:31,160 Speaker 1: fight it. And so they're gonna do that by doing 277 00:14:31,160 --> 00:14:35,080 Speaker 1: two things, one injecting less money into the system and 278 00:14:35,120 --> 00:14:39,160 Speaker 1: also to to um start sucking money out by raising 279 00:14:39,360 --> 00:14:43,200 Speaker 1: interest rates. Supposedly that's what they're gonna do. Um. We 280 00:14:43,240 --> 00:14:45,200 Speaker 1: don't know if they're actually gonna do that. I kind 281 00:14:45,200 --> 00:14:47,760 Speaker 1: of think that it probably won't happen. Um, but they 282 00:14:47,840 --> 00:14:50,280 Speaker 1: got to do something because inflation is raging and we 283 00:14:50,320 --> 00:14:54,200 Speaker 1: are going into a election cycle this year for mid terms, 284 00:14:54,360 --> 00:14:57,960 Speaker 1: and the uh, the incumbent party, which is the Democrat 285 00:14:58,000 --> 00:15:01,040 Speaker 1: party right now. It doesn't matter if it was Republicans 286 00:15:01,080 --> 00:15:05,160 Speaker 1: or Democrats, whoever, the incumbent party is, UH, we'll typically 287 00:15:05,200 --> 00:15:07,840 Speaker 1: lose when we're in an economic environment like we have, 288 00:15:07,920 --> 00:15:09,800 Speaker 1: so it doesn't matter which side it was holding power 289 00:15:09,880 --> 00:15:12,640 Speaker 1: at the time, that side is pretty much guaranteed to losing. 290 00:15:12,680 --> 00:15:15,160 Speaker 1: The Democrats know this, and if they don't do something 291 00:15:15,200 --> 00:15:17,720 Speaker 1: to fight inflation, it's going to be game over for them. 292 00:15:17,720 --> 00:15:21,360 Speaker 1: The problem is the way to stop inflation is the 293 00:15:21,360 --> 00:15:25,680 Speaker 1: opposite of creating inflation, which means stop pumping the markets 294 00:15:25,760 --> 00:15:28,120 Speaker 1: full of money. The problem with that is that if 295 00:15:28,120 --> 00:15:31,000 Speaker 1: they do that, the next thing you know, it creates recession. 296 00:15:31,480 --> 00:15:34,040 Speaker 1: You start, you put the money in, and it increases 297 00:15:34,040 --> 00:15:37,680 Speaker 1: the economy. I can now take out loans for really cheap. 298 00:15:37,720 --> 00:15:40,400 Speaker 1: I can buy more houses. I go buy ten houses. 299 00:15:40,560 --> 00:15:43,000 Speaker 1: Now there's ten houses for home builders, and then there's 300 00:15:43,360 --> 00:15:46,920 Speaker 1: ten companies to make home windows and floors and cabinets. 301 00:15:46,920 --> 00:15:48,880 Speaker 1: And then I need landscapers. And those landscapers now have 302 00:15:48,880 --> 00:15:50,280 Speaker 1: a new business, so they go buy new trucks. So 303 00:15:50,320 --> 00:15:52,960 Speaker 1: now forwards making new trucks for those landscapers. And all 304 00:15:53,040 --> 00:15:55,440 Speaker 1: that was created because they pumped in more money. But 305 00:15:55,520 --> 00:15:58,880 Speaker 1: when they suck the money out, the opposite happens. I 306 00:15:58,920 --> 00:16:02,160 Speaker 1: don't buy two ten homes. Now ten homebuilders don't have work. 307 00:16:02,360 --> 00:16:05,640 Speaker 1: Those window manufacturers, flooring manufacturers, cabinet manufacturers don't have work. 308 00:16:05,760 --> 00:16:08,080 Speaker 1: That landscaping company just bought all those new trucks now 309 00:16:08,120 --> 00:16:10,680 Speaker 1: has no jobs to send those trucks on, and that 310 00:16:10,800 --> 00:16:14,240 Speaker 1: leads to recession. So why am I talking about this 311 00:16:14,280 --> 00:16:18,000 Speaker 1: on a bitcoin podcast Because all of these booms and 312 00:16:18,080 --> 00:16:21,720 Speaker 1: bus are because the central banks put money in and 313 00:16:21,760 --> 00:16:24,400 Speaker 1: then they take money out. They put money in and 314 00:16:24,400 --> 00:16:27,760 Speaker 1: they take money out, and bitcoin takes away their ability. 315 00:16:27,840 --> 00:16:31,880 Speaker 1: It takes away anybody's ability to create more money. So 316 00:16:32,000 --> 00:16:34,520 Speaker 1: people think, well, the problem is that we just you know, 317 00:16:34,560 --> 00:16:36,600 Speaker 1: the guys that run the central bank, and you know, 318 00:16:36,680 --> 00:16:39,160 Speaker 1: if we if we replace the politicians, like let's just 319 00:16:39,160 --> 00:16:40,800 Speaker 1: get rid of Trump and put in Biden. Let's just 320 00:16:40,800 --> 00:16:42,920 Speaker 1: get rid of Biden and put in whoever. If we 321 00:16:42,960 --> 00:16:46,560 Speaker 1: get better people, we won't have this problem anymore. But 322 00:16:46,600 --> 00:16:49,520 Speaker 1: they're misunderstanding the problem. The problem is not the people 323 00:16:49,600 --> 00:16:54,080 Speaker 1: who are there. The problem is people in general. It's 324 00:16:54,200 --> 00:16:56,800 Speaker 1: humans in general. Since the beginning of time, humans have 325 00:16:56,840 --> 00:16:58,880 Speaker 1: tried to get something for nothing. Since the beginning of time, 326 00:16:58,880 --> 00:17:02,160 Speaker 1: people have tried to create gold from metal, it's called 327 00:17:02,480 --> 00:17:05,760 Speaker 1: a right alchemy. Since the beginning of time, they've tried 328 00:17:05,760 --> 00:17:08,080 Speaker 1: to figure out how to produce money from nothing. And now, 329 00:17:08,160 --> 00:17:10,360 Speaker 1: of course the central banks have to have figured out 330 00:17:10,359 --> 00:17:12,399 Speaker 1: a way to do that. It doesn't matter who is 331 00:17:12,440 --> 00:17:15,280 Speaker 1: controlling that, they are going to do that. The only 332 00:17:15,320 --> 00:17:19,159 Speaker 1: way to fix this problem is too As one of 333 00:17:19,200 --> 00:17:22,320 Speaker 1: my favorite economists, F. A. Hyak, he famously said in 334 00:17:22,760 --> 00:17:25,960 Speaker 1: eight there shall never be a sound money again, a 335 00:17:26,000 --> 00:17:28,439 Speaker 1: sound money meeting something that can't just be inflated or 336 00:17:28,440 --> 00:17:30,800 Speaker 1: created at will. There shall never be a sound money 337 00:17:30,840 --> 00:17:35,240 Speaker 1: again until the thing is taken from the hands of 338 00:17:35,280 --> 00:17:38,399 Speaker 1: the government. But it cannot be done by force, but 339 00:17:38,640 --> 00:17:44,200 Speaker 1: rather by a sly roundabout way introducing something that cannot 340 00:17:44,280 --> 00:17:47,840 Speaker 1: be stopped. And he said that in of course, it 341 00:17:47,960 --> 00:17:51,280 Speaker 1: was prophetically talking about something like bitcoin, which takes away 342 00:17:51,320 --> 00:17:54,200 Speaker 1: the ability not of the Biden administration, not of the 343 00:17:54,200 --> 00:17:58,560 Speaker 1: Federal Reserve, but from anybody being able to create money. 344 00:17:58,600 --> 00:18:01,000 Speaker 1: And if you take away is ability to create money, 345 00:18:01,320 --> 00:18:03,720 Speaker 1: then you can end inflation. And why do we want 346 00:18:03,720 --> 00:18:08,120 Speaker 1: to end inflation? Because inflation is stealing your wealth. Remember, 347 00:18:08,320 --> 00:18:10,240 Speaker 1: your thousand dollars in the bank only buys you six 348 00:18:10,320 --> 00:18:12,240 Speaker 1: or seven dollars worth of goods and services in a 349 00:18:12,240 --> 00:18:15,399 Speaker 1: couple of years from now. They stole your purchasing power 350 00:18:15,440 --> 00:18:19,680 Speaker 1: by enriching themselves and anyway, that's it man seven and 351 00:18:19,680 --> 00:18:24,879 Speaker 1: a half percent inflation number, record breaking blowout. It continues 352 00:18:24,920 --> 00:18:27,240 Speaker 1: to go higher, and that's that's a manipulated number. The 353 00:18:27,280 --> 00:18:30,560 Speaker 1: reality is the money supply was increased by about thirty 354 00:18:31,240 --> 00:18:34,080 Speaker 1: So that's the real number. And so that means that 355 00:18:34,119 --> 00:18:36,919 Speaker 1: you need to make about thirty five percent more money 356 00:18:37,000 --> 00:18:38,840 Speaker 1: this year to be in the same place you were 357 00:18:38,880 --> 00:18:40,520 Speaker 1: last year. Did you get a thirty five percent raise? 358 00:18:40,560 --> 00:18:42,919 Speaker 1: Because I hope you did. When we come back, I 359 00:18:42,960 --> 00:18:45,879 Speaker 1: want to bring on somebody who's actually running in politics 360 00:18:45,960 --> 00:18:49,199 Speaker 1: trying to bring some change with bitcoin to this um. 361 00:18:49,240 --> 00:18:51,040 Speaker 1: You listen to the Mark ma Show. I'll be back 362 00:18:51,240 --> 00:18:54,080 Speaker 1: with more in a second. Uh, talking about how we 363 00:18:54,119 --> 00:18:57,000 Speaker 1: can fix this. So don't go away, all right, welcome back. 364 00:18:57,040 --> 00:18:59,120 Speaker 1: You are listening to the Mark mo Show. We're talking 365 00:18:59,119 --> 00:19:02,920 Speaker 1: about bitcoin. We're talking about the decentralized revolution that is happening. 366 00:19:03,760 --> 00:19:05,280 Speaker 1: You know, there's a lot of things going on. One 367 00:19:05,320 --> 00:19:07,320 Speaker 1: of the big things that I hear about bitcoin and 368 00:19:07,320 --> 00:19:10,480 Speaker 1: cryptocurrencies a lot. One of the biggest objections I hear, 369 00:19:10,520 --> 00:19:12,200 Speaker 1: and of course I did a whole series breaking down 370 00:19:12,240 --> 00:19:14,000 Speaker 1: all these objections, but one of the big objections I 371 00:19:14,040 --> 00:19:16,679 Speaker 1: hear is that, Ah, the government's are just gonna make 372 00:19:16,680 --> 00:19:19,800 Speaker 1: it illegal. And I've talked about that at length. One 373 00:19:19,800 --> 00:19:21,520 Speaker 1: of the things I've said, well, there's two things I 374 00:19:21,520 --> 00:19:24,160 Speaker 1: would say that. One, I would say that I've made 375 00:19:24,320 --> 00:19:27,400 Speaker 1: videos on I don't think they would do it even 376 00:19:27,440 --> 00:19:30,720 Speaker 1: if they could, and I've explained why, financially and for 377 00:19:30,760 --> 00:19:33,199 Speaker 1: the system, etcetera. But then I've also said that I 378 00:19:33,240 --> 00:19:35,520 Speaker 1: think even if they wanted to, it would be very 379 00:19:35,520 --> 00:19:38,320 Speaker 1: difficult for them because the level of entrenchment that's been 380 00:19:38,359 --> 00:19:41,880 Speaker 1: made both in the financial system, the financial system being 381 00:19:41,920 --> 00:19:44,320 Speaker 1: lobbies of the government, Um, they don't want to see that, 382 00:19:44,359 --> 00:19:47,359 Speaker 1: but also the level of entrenchment of people inside the 383 00:19:47,400 --> 00:19:50,080 Speaker 1: government that have seen the need for a bitcoin, have 384 00:19:50,119 --> 00:19:52,560 Speaker 1: adopted it and so forth, and so UM. Joining me 385 00:19:52,600 --> 00:19:55,600 Speaker 1: in the studio today, I have Erica Rhodes. She is 386 00:19:56,160 --> 00:19:59,040 Speaker 1: running for Congress and the U. S. House of Representatives 387 00:19:59,080 --> 00:20:03,679 Speaker 1: in California on the thirty second district, and Um, she's 388 00:20:04,040 --> 00:20:06,120 Speaker 1: made a big splash, I would say for two reasons. 389 00:20:06,280 --> 00:20:10,160 Speaker 1: One is that she's trying to unseat an incumbent, which 390 00:20:10,200 --> 00:20:12,240 Speaker 1: is Brad Sherman. And Brad Sherman is someone that I've 391 00:20:12,280 --> 00:20:16,359 Speaker 1: talked about at length. Um, he is a major opponent 392 00:20:16,600 --> 00:20:19,160 Speaker 1: on your freedom to choose what you want as money, 393 00:20:19,160 --> 00:20:20,960 Speaker 1: specifically on what you want to choose as the money 394 00:20:21,080 --> 00:20:25,040 Speaker 1: being cryptocurrencies. UM. And also Erica is running one to 395 00:20:25,160 --> 00:20:27,639 Speaker 1: unseat him, but to also on kind of like a 396 00:20:27,680 --> 00:20:30,760 Speaker 1: pro bitcoin platform. So, Erica, thanks so much for joining 397 00:20:30,800 --> 00:20:33,360 Speaker 1: me today. Thank you for having me. I'm really excited 398 00:20:33,440 --> 00:20:36,200 Speaker 1: to talk with you. So. You know, I've been catching 399 00:20:36,280 --> 00:20:37,760 Speaker 1: quite a bit of the content you've been doing. I 400 00:20:37,840 --> 00:20:39,760 Speaker 1: was on the Twitter space as you did the other 401 00:20:39,840 --> 00:20:43,000 Speaker 1: night with Jack Dorsey and and others. That was pretty cool. Um. 402 00:20:43,040 --> 00:20:46,000 Speaker 1: I'd like just a little bit of your story. UM. 403 00:20:46,040 --> 00:20:47,840 Speaker 1: I know you're a teacher, you can tell us about that, 404 00:20:47,880 --> 00:20:51,440 Speaker 1: but more specifically being a teacher, Uh, what's your involvement 405 00:20:51,440 --> 00:20:53,240 Speaker 1: with politics? Why do you decided to get into this, 406 00:20:53,320 --> 00:20:55,160 Speaker 1: and why have you decided to make bitcoin a piece 407 00:20:55,200 --> 00:20:59,520 Speaker 1: of that? Yes, So, UM, again, thank you for having me. So, 408 00:20:59,720 --> 00:21:02,960 Speaker 1: I been teaching for ten years. I never wanted to 409 00:21:03,119 --> 00:21:06,680 Speaker 1: enter politics. UM. I never had any aspirations to run 410 00:21:06,720 --> 00:21:10,840 Speaker 1: for a public office. But once Trump got elected, I said, 411 00:21:10,880 --> 00:21:13,800 Speaker 1: you know, I want to be more politically active. And 412 00:21:13,880 --> 00:21:16,560 Speaker 1: it's not because I have a thing against Republicans or 413 00:21:16,600 --> 00:21:19,560 Speaker 1: anything like that. It's more so the rhetoric in which 414 00:21:19,560 --> 00:21:22,800 Speaker 1: he projected. And I just felt like there was great 415 00:21:22,800 --> 00:21:26,560 Speaker 1: division um merging in our country. And so I ended 416 00:21:26,600 --> 00:21:31,040 Speaker 1: up getting politically active. And then after the Democratic primary, 417 00:21:31,119 --> 00:21:34,720 Speaker 1: we saw so much civic unrest, We saw a lack 418 00:21:34,760 --> 00:21:38,840 Speaker 1: of thoughtful policies being implemented. You know, I feel like 419 00:21:38,880 --> 00:21:41,080 Speaker 1: there needs to be changed on both sides of the 420 00:21:41,119 --> 00:21:44,240 Speaker 1: political aisle. And so my dad was like, Erica, you 421 00:21:44,240 --> 00:21:47,400 Speaker 1: should you should run. And so when I was building 422 00:21:47,440 --> 00:21:51,639 Speaker 1: my platform, it was specifically going to be community service driven. 423 00:21:52,160 --> 00:21:54,879 Speaker 1: It was about to bring everyone together. It was about 424 00:21:54,880 --> 00:21:57,320 Speaker 1: to model a different way of governance, in a different 425 00:21:57,320 --> 00:22:02,800 Speaker 1: way of campaigning and really being data and solution oriented 426 00:22:02,960 --> 00:22:05,240 Speaker 1: because I think that is exactly what we need. And 427 00:22:05,320 --> 00:22:09,480 Speaker 1: so um, and then once we built our platform, it 428 00:22:09,560 --> 00:22:13,520 Speaker 1: was like myself and another teacher and UM, I was like, 429 00:22:14,560 --> 00:22:16,240 Speaker 1: you know, I put it out there, I like announced 430 00:22:16,240 --> 00:22:18,320 Speaker 1: my candidacy and there were some like young kids that 431 00:22:18,359 --> 00:22:21,520 Speaker 1: were like, you know, you should put bitcoin on your platform, 432 00:22:21,640 --> 00:22:24,760 Speaker 1: and I was like what what They're like, you know, 433 00:22:24,920 --> 00:22:27,320 Speaker 1: we really care about this and we think that that's 434 00:22:27,359 --> 00:22:30,040 Speaker 1: something that you should add to your platform. And Initially 435 00:22:30,080 --> 00:22:32,320 Speaker 1: I kind of like dismissed it because of the FEC 436 00:22:32,560 --> 00:22:35,560 Speaker 1: violations and like counting, and I wasn't really sure how 437 00:22:35,600 --> 00:22:39,040 Speaker 1: it would work. And then um, later on I was 438 00:22:39,080 --> 00:22:43,040 Speaker 1: approached by the bitcoin community after a hearing that Brad did, 439 00:22:43,280 --> 00:22:45,960 Speaker 1: and then we just looked more deeply into it, and 440 00:22:45,960 --> 00:22:48,600 Speaker 1: then we decided that was absolutely something that needs to 441 00:22:48,600 --> 00:22:52,479 Speaker 1: be protected, the technology behind it, the Lightning network, and 442 00:22:52,520 --> 00:22:54,240 Speaker 1: so that is why we had made the decision to 443 00:22:54,280 --> 00:22:57,960 Speaker 1: go ahead and add it to our platform. Interesting, now, 444 00:22:58,560 --> 00:23:01,880 Speaker 1: you started out talking about out um you know, after 445 00:23:01,920 --> 00:23:04,520 Speaker 1: the last election cycle you got more involved and um, 446 00:23:04,560 --> 00:23:06,159 Speaker 1: you were kind of more on the democrat or or 447 00:23:06,240 --> 00:23:09,960 Speaker 1: left side. Um. You know, my show focuses on bitcoin, 448 00:23:10,040 --> 00:23:12,600 Speaker 1: which I believe is the intersection of politics, finance, and 449 00:23:12,600 --> 00:23:18,280 Speaker 1: technology to kind of together. Um. I think that, UM, 450 00:23:18,320 --> 00:23:19,600 Speaker 1: I think that a lot of there's a lot of 451 00:23:19,640 --> 00:23:21,800 Speaker 1: there's a lot lost in words today and we don't 452 00:23:21,800 --> 00:23:24,760 Speaker 1: know what things mean anymore. Um. And so even left 453 00:23:24,840 --> 00:23:27,320 Speaker 1: versus right, what does that even mean? Republican versus democrat, 454 00:23:27,359 --> 00:23:30,360 Speaker 1: what does that even mean? People might say that socialism 455 00:23:30,400 --> 00:23:32,960 Speaker 1: is on the left and fascism is on the right, um, 456 00:23:33,000 --> 00:23:34,920 Speaker 1: which doesn't make any sense. To me, I look at 457 00:23:34,960 --> 00:23:40,840 Speaker 1: things as the individual versus the collective. So I look 458 00:23:40,880 --> 00:23:44,399 Speaker 1: at it as like, I want freedom to choose, freedom 459 00:23:44,440 --> 00:23:46,480 Speaker 1: from being coerced to make choices I don't want to 460 00:23:46,520 --> 00:23:50,439 Speaker 1: make UM and so Bitcoin, I believe, gives me that 461 00:23:50,480 --> 00:23:52,640 Speaker 1: best choice to be an individual because now I can 462 00:23:52,640 --> 00:23:54,760 Speaker 1: control my money without being forced. And one of the 463 00:23:54,760 --> 00:23:56,879 Speaker 1: reason why I don't like Brad Sherman is because he 464 00:23:56,920 --> 00:23:59,359 Speaker 1: wants to take away my ability to be free to 465 00:23:59,520 --> 00:24:01,960 Speaker 1: choose what I want to store my wealth in. UM. 466 00:24:02,000 --> 00:24:03,879 Speaker 1: So I'm curious. I mean, you said you're on the left, 467 00:24:03,960 --> 00:24:06,880 Speaker 1: but would you also think that that's a proper framing 468 00:24:06,920 --> 00:24:09,879 Speaker 1: that really it's actually um Maybe we could get rid 469 00:24:09,920 --> 00:24:11,320 Speaker 1: of some of those labels and look at like the 470 00:24:11,359 --> 00:24:14,240 Speaker 1: difference of like individual freedom versus like the collective or 471 00:24:14,240 --> 00:24:16,720 Speaker 1: the central planning model that tries to like control every 472 00:24:16,720 --> 00:24:18,919 Speaker 1: aspect of our life. Yeah, I think we do have 473 00:24:19,000 --> 00:24:21,120 Speaker 1: to get rid of the labels. I get called all 474 00:24:21,200 --> 00:24:23,840 Speaker 1: kinds of things that I feel like don't represent me 475 00:24:24,080 --> 00:24:27,000 Speaker 1: because I'm like very rational and reasonable and I just 476 00:24:27,040 --> 00:24:30,160 Speaker 1: want whatever the best idea is, that's what we need 477 00:24:30,200 --> 00:24:32,520 Speaker 1: to go with. It doesn't matter which your whatever your 478 00:24:32,560 --> 00:24:36,480 Speaker 1: political affiliation is if it's going, if it makes sense, 479 00:24:36,600 --> 00:24:39,159 Speaker 1: it's and we can implement it and it helps people. 480 00:24:39,480 --> 00:24:41,439 Speaker 1: That's what we should be able to do. That's one 481 00:24:41,440 --> 00:24:43,960 Speaker 1: of the reasons why I'm very attracted to bitcoin because 482 00:24:43,960 --> 00:24:47,320 Speaker 1: I think personally it is my personal opinion. I don't 483 00:24:47,320 --> 00:24:49,760 Speaker 1: think it should be a partisan issue. I think anybody 484 00:24:49,760 --> 00:24:52,840 Speaker 1: that wants the whole bitcoin should be able to. Anybody 485 00:24:52,880 --> 00:24:55,400 Speaker 1: that wants to use that as a way to acquire 486 00:24:55,480 --> 00:24:57,879 Speaker 1: wealth should be able to and I think that they 487 00:24:57,880 --> 00:25:01,560 Speaker 1: should have absolute freedom in order to do that. And 488 00:25:01,640 --> 00:25:04,440 Speaker 1: so something that worries me is that it does get 489 00:25:04,480 --> 00:25:08,000 Speaker 1: politic sized that you can't be a Democrat and hold 490 00:25:08,040 --> 00:25:10,239 Speaker 1: and I think that that's unfair because I know a 491 00:25:10,240 --> 00:25:13,840 Speaker 1: lot of Democrats, a lot of my coworkers, we all 492 00:25:13,960 --> 00:25:16,840 Speaker 1: have hold bitcoin, right, So I think anybody that wants 493 00:25:16,880 --> 00:25:19,199 Speaker 1: to have it should absolutely be able to have it. 494 00:25:19,560 --> 00:25:23,200 Speaker 1: That's my personal opinion. I also think that Brad Sherman's 495 00:25:23,200 --> 00:25:26,159 Speaker 1: getting you're you're so radical, You're so radical with that opinion. 496 00:25:26,240 --> 00:25:28,439 Speaker 1: How dare people be allowed to store their wealth and 497 00:25:28,480 --> 00:25:31,800 Speaker 1: whatever they choose? But but you know, almost I would 498 00:25:31,800 --> 00:25:35,240 Speaker 1: say a lot of people I know hold bitcoin. That's 499 00:25:35,240 --> 00:25:37,640 Speaker 1: just This is just my experience. And I have not 500 00:25:37,680 --> 00:25:40,760 Speaker 1: met any person in the thirty second district that doesn't 501 00:25:40,760 --> 00:25:44,320 Speaker 1: have some type of either bitcoin or a form of crypto. 502 00:25:44,440 --> 00:25:47,320 Speaker 1: And I have not met anyone that does that want 503 00:25:47,400 --> 00:25:49,679 Speaker 1: to see a band even if they don't have any 504 00:25:49,720 --> 00:25:52,120 Speaker 1: I've never met anyone that's like, no, it should be banned. 505 00:25:52,320 --> 00:25:54,679 Speaker 1: I think people should have the right to invest in 506 00:25:54,680 --> 00:25:56,960 Speaker 1: whatever they want. And that's where Brad's getting it wrong. 507 00:25:57,000 --> 00:25:59,600 Speaker 1: And I think also that's where members of Congress are 508 00:25:59,600 --> 00:26:02,160 Speaker 1: getting wrong, you know. And I think there's a lack 509 00:26:02,200 --> 00:26:04,920 Speaker 1: of education. I think if people really take the time 510 00:26:04,960 --> 00:26:08,560 Speaker 1: to understand what it is, the future of it, they'll 511 00:26:08,600 --> 00:26:12,119 Speaker 1: be like, Okay, that's why so many people are making 512 00:26:12,160 --> 00:26:15,080 Speaker 1: this choice and wanting it, you know. And I think 513 00:26:15,320 --> 00:26:18,199 Speaker 1: for me, I'm always learning. I don't ever proclaim to 514 00:26:18,240 --> 00:26:20,320 Speaker 1: know it all. I you know, I spent a good 515 00:26:20,320 --> 00:26:23,080 Speaker 1: deal of my you know week reading or watching, listening 516 00:26:23,080 --> 00:26:26,119 Speaker 1: to the podcast, talking with people just to learn. Like 517 00:26:26,240 --> 00:26:29,240 Speaker 1: right now, I'm in the in the process of really 518 00:26:29,600 --> 00:26:32,640 Speaker 1: really becoming a very knowledgeable about lighting, because I think 519 00:26:32,640 --> 00:26:35,960 Speaker 1: that that's a very important technology that we need to 520 00:26:36,000 --> 00:26:41,040 Speaker 1: build upon and support. That's my personal opinion and Um. 521 00:26:41,119 --> 00:26:45,080 Speaker 1: For me also to um, if you're a Democrat, don't 522 00:26:45,080 --> 00:26:48,040 Speaker 1: say that you're for ending poverty and helping people and 523 00:26:48,080 --> 00:26:51,400 Speaker 1: being against this because it absolutely is something that can 524 00:26:51,480 --> 00:26:56,159 Speaker 1: leverage people out of poverty. I know so many people personally, like, 525 00:26:56,320 --> 00:27:01,240 Speaker 1: personally met that it's been advantageous for Yeah. Yeah, I 526 00:27:01,240 --> 00:27:02,840 Speaker 1: mean a lot of a lot of wealth has been made. 527 00:27:02,960 --> 00:27:06,000 Speaker 1: And um, I love how you keep saying in your opinion, um, 528 00:27:06,040 --> 00:27:08,280 Speaker 1: and so you know you have obviously opinions about things, 529 00:27:08,280 --> 00:27:11,160 Speaker 1: but I think some things well, I mean it's hard, 530 00:27:11,520 --> 00:27:14,520 Speaker 1: they're they're not disputable, Like it's your opinion that you 531 00:27:14,520 --> 00:27:18,560 Speaker 1: know lightning is could could be very advantageous to be 532 00:27:18,640 --> 00:27:20,919 Speaker 1: used for the world. I would agree. My opinion is 533 00:27:20,960 --> 00:27:23,199 Speaker 1: the same. Right, I share that, But it shouldn't be 534 00:27:23,280 --> 00:27:25,639 Speaker 1: controversial or have to be your opinion that people should 535 00:27:25,840 --> 00:27:28,520 Speaker 1: have the right to store their wealth and whatever they want. Right. 536 00:27:28,800 --> 00:27:32,080 Speaker 1: Rich people might store their wealth in cars or art, 537 00:27:32,680 --> 00:27:35,800 Speaker 1: some people buy houses, Um something right, I mean I 538 00:27:35,800 --> 00:27:37,200 Speaker 1: want to buy gold, I want to buy bitcoin. What 539 00:27:37,200 --> 00:27:39,560 Speaker 1: differences that make? You know? And so? But the other 540 00:27:39,640 --> 00:27:42,520 Speaker 1: thing too is that you can enter I whatever your 541 00:27:42,960 --> 00:27:46,000 Speaker 1: financial situation is, Like you don't need x amount of 542 00:27:46,000 --> 00:27:50,719 Speaker 1: dollars to hold bitcoin, Like if you only have five dollars, 543 00:27:50,800 --> 00:27:52,639 Speaker 1: you can start with five dollars and then say, you know, 544 00:27:52,680 --> 00:27:55,600 Speaker 1: every paycheck, I'm gonna put ten dollars into it. And 545 00:27:55,680 --> 00:27:57,520 Speaker 1: you don't have to wait to have like a thousand 546 00:27:57,600 --> 00:28:00,080 Speaker 1: dollars to be able to, you know, get in to 547 00:28:00,160 --> 00:28:03,480 Speaker 1: the market. So I think that's that's important. Yeah, that's 548 00:28:03,480 --> 00:28:05,159 Speaker 1: a great that's a great point. Um, you're listening to 549 00:28:05,200 --> 00:28:07,199 Speaker 1: the Mark mos Show. We're talking about bitcoin and the 550 00:28:07,240 --> 00:28:10,439 Speaker 1: decentralized revolution that's happening. I am. I'm joining the studio 551 00:28:10,560 --> 00:28:13,600 Speaker 1: right now with Erica Rhodes. She's running for Congress, the U. S. 552 00:28:13,640 --> 00:28:17,240 Speaker 1: House of Representatives in California for the thirty second district. 553 00:28:17,400 --> 00:28:20,040 Speaker 1: She's a school teacher trying to make a difference. Um, 554 00:28:20,080 --> 00:28:22,840 Speaker 1: she's running on a pro bitcoin platform, trying to unseat 555 00:28:22,840 --> 00:28:25,320 Speaker 1: Brad Sherman. We're gonna be right back with more. Don't 556 00:28:25,320 --> 00:28:27,600 Speaker 1: go away, all right, welcome back. You are listening to 557 00:28:27,640 --> 00:28:29,720 Speaker 1: the Mark Moa Show, and we're talking about bitcoin, and 558 00:28:29,760 --> 00:28:32,720 Speaker 1: we're talking about the decentralized revolution. And I'm in the 559 00:28:32,760 --> 00:28:35,800 Speaker 1: studio right now with Erica Rhodes. She is a school 560 00:28:35,800 --> 00:28:39,120 Speaker 1: teacher running for the Congress US House of Representatives in 561 00:28:39,200 --> 00:28:42,680 Speaker 1: California on the thirty second district, trying to unseat one 562 00:28:42,720 --> 00:28:47,360 Speaker 1: of our opponents, Brad Sherman, opponent of the bitcoin crypto industry. 563 00:28:47,360 --> 00:28:50,640 Speaker 1: I should say, um, now she is running to unseat 564 00:28:50,720 --> 00:28:53,040 Speaker 1: him and h on a on a bitcoin platform. But 565 00:28:53,320 --> 00:28:55,680 Speaker 1: you know, one thing that I think it is important 566 00:28:55,680 --> 00:28:59,320 Speaker 1: for most people to understand is people who need to 567 00:28:59,360 --> 00:29:02,960 Speaker 1: be more flexible in their thinking and understand that everything 568 00:29:03,000 --> 00:29:05,200 Speaker 1: has trade off and understand there's different dimensions to all 569 00:29:05,200 --> 00:29:09,400 Speaker 1: these different things. And so while Erica might be pro bitcoin, 570 00:29:09,840 --> 00:29:13,000 Speaker 1: that's not the only issue that you should be thinking about. Um. 571 00:29:13,040 --> 00:29:15,320 Speaker 1: We've seen in New York City, for example, the mayor 572 00:29:15,360 --> 00:29:17,800 Speaker 1: there ran on a pro bitcoin platform and elis that 573 00:29:17,920 --> 00:29:19,800 Speaker 1: he wants to ban bitcoin mining. That doesn't make any 574 00:29:19,800 --> 00:29:22,760 Speaker 1: sense to me. And so Erica, I'm sure that there's 575 00:29:23,080 --> 00:29:26,880 Speaker 1: more things that you're concerned with than just bitcoin. Give 576 00:29:26,960 --> 00:29:28,960 Speaker 1: us some ideas of some other things that you care about. 577 00:29:29,640 --> 00:29:33,080 Speaker 1: I'm not like Eric Adams, so please so ever, I'm 578 00:29:33,120 --> 00:29:35,560 Speaker 1: not you, but like people were like worried, I am 579 00:29:35,680 --> 00:29:39,480 Speaker 1: definitely not him. But well, the problem the problem in 580 00:29:39,840 --> 00:29:42,120 Speaker 1: that was that you know, if all you voted for 581 00:29:42,240 --> 00:29:44,160 Speaker 1: him is because he said he was pro bitcoin and 582 00:29:44,200 --> 00:29:45,800 Speaker 1: then you did me look at all the other things 583 00:29:45,800 --> 00:29:48,200 Speaker 1: that he stood for in his track record, then you 584 00:29:48,320 --> 00:29:50,640 Speaker 1: didn't catch that. And so I don't think the would 585 00:29:50,680 --> 00:29:52,400 Speaker 1: necessary comparing you, but I think maybe just kind of 586 00:29:52,400 --> 00:29:54,120 Speaker 1: like a warning, like, hey, what else do these people 587 00:29:54,160 --> 00:29:56,440 Speaker 1: care about? So it's a good time to hear, yeah, 588 00:29:56,640 --> 00:29:59,080 Speaker 1: you know something. And I mean, because I think it's 589 00:29:59,080 --> 00:30:02,040 Speaker 1: connected to bit rain is campaign finance reform. I think 590 00:30:02,040 --> 00:30:05,480 Speaker 1: it's something that's really important, Like Brad gets a majority 591 00:30:05,520 --> 00:30:08,800 Speaker 1: of his money from big banks, check cashing, pawn shops, 592 00:30:09,320 --> 00:30:12,120 Speaker 1: and to me, that's like a contradiction, like how can 593 00:30:12,200 --> 00:30:15,560 Speaker 1: you say that bitcoin? You know people of color, like 594 00:30:15,560 --> 00:30:17,400 Speaker 1: in the last time you are gonna be help left 595 00:30:17,440 --> 00:30:20,960 Speaker 1: holding the bag when you yourself take money from people 596 00:30:21,600 --> 00:30:25,160 Speaker 1: that completely keep people in poverish, right, And so I 597 00:30:25,200 --> 00:30:27,880 Speaker 1: think that we need to really look at where people 598 00:30:27,880 --> 00:30:30,440 Speaker 1: get their money from. I didn't really appreciate this until 599 00:30:30,480 --> 00:30:33,200 Speaker 1: I was starting to run for Congress and I'm on 600 00:30:33,240 --> 00:30:35,360 Speaker 1: the back end of things. So I think that's really 601 00:30:35,400 --> 00:30:38,360 Speaker 1: really important. And I think it also really sets the 602 00:30:38,400 --> 00:30:41,720 Speaker 1: tone of your character, right. And then the second thing 603 00:30:41,720 --> 00:30:43,760 Speaker 1: I think that I would love to raise awareness on 604 00:30:43,920 --> 00:30:46,600 Speaker 1: is foster care reform. You know, it's something that does 605 00:30:46,600 --> 00:30:48,680 Speaker 1: not get talked about. And if we're going to talk 606 00:30:48,720 --> 00:30:51,520 Speaker 1: about people being unbanked, well let's talk about kids that 607 00:30:51,560 --> 00:30:54,000 Speaker 1: when they age out there left with a trash bag 608 00:30:54,040 --> 00:30:57,840 Speaker 1: a sidewalk and they have no idea, no bank account, 609 00:30:57,880 --> 00:31:01,640 Speaker 1: no financial literacy, nothing, and then what ends up happening 610 00:31:01,720 --> 00:31:04,360 Speaker 1: is they end up staying impoverished, and then it ends 611 00:31:04,440 --> 00:31:08,479 Speaker 1: up costing us more for all the services. So I 612 00:31:08,480 --> 00:31:11,680 Speaker 1: think we have to really also look at preventing problems 613 00:31:11,720 --> 00:31:14,840 Speaker 1: as well. And so that's something that I'm really advocating for. 614 00:31:15,040 --> 00:31:18,040 Speaker 1: When you say financial literacy, um, I'm an educator. I'm 615 00:31:18,040 --> 00:31:21,040 Speaker 1: an online educator that's spent the last many many years 616 00:31:21,040 --> 00:31:22,760 Speaker 1: trying to educate as many people as I can, and 617 00:31:22,800 --> 00:31:24,800 Speaker 1: so I would agree with that, right, education is so 618 00:31:24,840 --> 00:31:28,960 Speaker 1: important you talk about financial literacy specifically, And a quote 619 00:31:28,960 --> 00:31:31,000 Speaker 1: that I throw out often is that Henry Ford throughout 620 00:31:31,000 --> 00:31:33,080 Speaker 1: a hundred years ago that if the American people knew 621 00:31:33,120 --> 00:31:36,480 Speaker 1: how the banking system worked, there would be a revolution 622 00:31:36,640 --> 00:31:39,320 Speaker 1: before the morning, he said. And that was over a 623 00:31:39,360 --> 00:31:41,520 Speaker 1: hundred years ago. Imagine how much worse the banking system 624 00:31:41,560 --> 00:31:43,680 Speaker 1: is today. And of course it's probably no surprise that 625 00:31:43,680 --> 00:31:46,680 Speaker 1: they don't teach us anything about it. Uh, and probably 626 00:31:46,960 --> 00:31:49,040 Speaker 1: either one whatever they do teach us is either maybe 627 00:31:49,040 --> 00:31:52,080 Speaker 1: either mislead or you know, like I said, purposely admitted UM. 628 00:31:52,160 --> 00:31:54,200 Speaker 1: And so you're absolutely right, like people have no idea 629 00:31:54,280 --> 00:31:57,800 Speaker 1: how the financial system works or how to navigate within that. UM. 630 00:31:57,840 --> 00:32:00,200 Speaker 1: Do you have any ideas of how you might prove 631 00:32:00,240 --> 00:32:03,720 Speaker 1: financial literacy specifically one, we have to start teaching it, 632 00:32:04,000 --> 00:32:06,920 Speaker 1: and I think that I can. I think it has 633 00:32:06,920 --> 00:32:09,720 Speaker 1: to be I think it can absolutely be differentiated based 634 00:32:09,720 --> 00:32:12,600 Speaker 1: on grade level, so would be age appropriate. And it 635 00:32:12,680 --> 00:32:14,320 Speaker 1: can just start with like if you're an element to 636 00:32:14,400 --> 00:32:17,040 Speaker 1: the importance of you know, saving money, like bitcoin actually 637 00:32:17,040 --> 00:32:19,200 Speaker 1: teaches people how to save money and the importance of 638 00:32:19,200 --> 00:32:22,680 Speaker 1: saving money. Like just an example, UM, I think that 639 00:32:22,840 --> 00:32:26,400 Speaker 1: like just what retirement means, just the language that you 640 00:32:26,440 --> 00:32:30,800 Speaker 1: know is around UM, personal finance and understanding what it 641 00:32:30,840 --> 00:32:33,840 Speaker 1: means for a loan and interest rates and all those 642 00:32:33,920 --> 00:32:36,320 Speaker 1: kind of things. Like I always use this, And there's 643 00:32:36,360 --> 00:32:38,080 Speaker 1: two examples that I always use. The first one is 644 00:32:38,120 --> 00:32:40,360 Speaker 1: I met with high school kids and they didn't even 645 00:32:40,480 --> 00:32:43,400 Speaker 1: understand the difference between a debit or credit card and 646 00:32:43,440 --> 00:32:45,600 Speaker 1: that they had to pay that back. And then second, 647 00:32:45,600 --> 00:32:48,240 Speaker 1: when we talk about student loans, well, why are we 648 00:32:48,360 --> 00:32:51,520 Speaker 1: letting kids take out two hundred thousand dollar art degrees 649 00:32:52,040 --> 00:32:54,760 Speaker 1: and not asking, like making sure they're aware, like is 650 00:32:54,800 --> 00:32:57,920 Speaker 1: this the best return on this investment? Is this profession 651 00:32:57,960 --> 00:33:00,640 Speaker 1: going to be able to pay off this particular or degree. 652 00:33:01,080 --> 00:33:02,840 Speaker 1: You know, it's just a little things like that, making 653 00:33:02,880 --> 00:33:05,760 Speaker 1: sure that you know, one is knowledgeable. And I also 654 00:33:05,840 --> 00:33:08,800 Speaker 1: think that when it comes to personal finance, you know, 655 00:33:08,920 --> 00:33:12,120 Speaker 1: people end up learning the value of it through big 656 00:33:12,160 --> 00:33:15,600 Speaker 1: financial mistakes and then they end up having horrendous credit 657 00:33:15,680 --> 00:33:18,440 Speaker 1: scores as a result of that. And so I think 658 00:33:18,600 --> 00:33:21,520 Speaker 1: again we have to be proactive and make sure that 659 00:33:21,560 --> 00:33:25,280 Speaker 1: when kids are graduating from high school and entering um 660 00:33:25,320 --> 00:33:27,280 Speaker 1: college or a trade school, because I think that in 661 00:33:27,440 --> 00:33:30,120 Speaker 1: college is not for everyone, that they just have a 662 00:33:30,200 --> 00:33:33,880 Speaker 1: really robust understanding of personal finance. And kids want that, 663 00:33:34,280 --> 00:33:36,840 Speaker 1: they want things to be connected to the real world, 664 00:33:37,280 --> 00:33:39,560 Speaker 1: you know, and they start making money, you typically at 665 00:33:39,560 --> 00:33:42,120 Speaker 1: fifteen and sixteen years old, so it's a it's an 666 00:33:42,120 --> 00:33:47,440 Speaker 1: opportunity to really make those connections. Yeah, good stuff. Yeah, 667 00:33:47,640 --> 00:33:50,000 Speaker 1: I mean I can't agree more, right, I have I 668 00:33:50,040 --> 00:33:52,640 Speaker 1: have a teenager in high school as well, and um, 669 00:33:52,680 --> 00:33:55,959 Speaker 1: you know, she has her dad is teaches financial literacy 670 00:33:56,080 --> 00:33:59,040 Speaker 1: literacy online, so she's a little bit more advantage than 671 00:33:59,080 --> 00:34:01,840 Speaker 1: most people. But you know, I see what she's learning, 672 00:34:01,880 --> 00:34:04,880 Speaker 1: and I mean, it's just it's just absolutely ridiculous. Um. 673 00:34:05,080 --> 00:34:07,840 Speaker 1: Do you do you remember when the GameStop thing happened? 674 00:34:07,840 --> 00:34:09,920 Speaker 1: Do you remember that first? I made many videos about it? 675 00:34:09,960 --> 00:34:13,279 Speaker 1: Sure right, So like that was a really to me, 676 00:34:13,440 --> 00:34:16,040 Speaker 1: a really unique thing because at that time, two weeks part, 677 00:34:16,120 --> 00:34:18,320 Speaker 1: we had my students and I just covered the stock 678 00:34:18,360 --> 00:34:21,360 Speaker 1: market and then that happened and they were able to 679 00:34:21,480 --> 00:34:24,320 Speaker 1: understand the brilliance of what those kids were doing on Reddit. 680 00:34:24,680 --> 00:34:29,240 Speaker 1: I thought that was such a really iconic a time 681 00:34:29,960 --> 00:34:32,799 Speaker 1: during when that happened. So that's just another example that 682 00:34:32,880 --> 00:34:35,960 Speaker 1: kids are are eager to learn about financial literacy and 683 00:34:36,000 --> 00:34:39,040 Speaker 1: how everything works. Yeah. You know, Um, one thing in 684 00:34:39,040 --> 00:34:40,799 Speaker 1: regards to that, and this is what I see with 685 00:34:40,840 --> 00:34:42,920 Speaker 1: my daughter in high school and her friends in high school, 686 00:34:43,000 --> 00:34:45,760 Speaker 1: is that they all want to trade stocks, on trade 687 00:34:45,760 --> 00:34:48,920 Speaker 1: options on robin Hood, or trade cryptocurrencies. Last month or December, 688 00:34:48,960 --> 00:34:51,200 Speaker 1: we had the record amount of job quits ever, and 689 00:34:51,239 --> 00:34:53,239 Speaker 1: people want to quit their jobs to trade options and 690 00:34:53,239 --> 00:34:55,880 Speaker 1: trade stock and trade cryptocurrency. And I think back to 691 00:34:55,920 --> 00:34:59,280 Speaker 1: a quote by Vladimir Lenin, who's not somebody I necessarily 692 00:34:59,280 --> 00:35:02,960 Speaker 1: want to quote, but he said. He said that the 693 00:35:03,000 --> 00:35:06,960 Speaker 1: best way to destroy a capitalist system was to debouch 694 00:35:07,040 --> 00:35:10,560 Speaker 1: the currency, debase it right, inflate basically through inflation. By 695 00:35:10,560 --> 00:35:14,400 Speaker 1: a continuing process of inflation, governments can confiscate secretly, and 696 00:35:14,480 --> 00:35:17,960 Speaker 1: I'm unobserved, an important part of the wealth of their citizens. 697 00:35:18,680 --> 00:35:21,120 Speaker 1: So that's what he said. So destroy the system by 698 00:35:21,200 --> 00:35:25,200 Speaker 1: deep debasing, by inflating away confiscating um the currency. So 699 00:35:25,520 --> 00:35:28,959 Speaker 1: when the government prints more money, it inflates it, which 700 00:35:29,000 --> 00:35:31,480 Speaker 1: steals the purchasing power from you. And then the last 701 00:35:31,480 --> 00:35:34,400 Speaker 1: part is what I really like here. He said. Um. 702 00:35:34,440 --> 00:35:37,160 Speaker 1: He said that as the inflation proceeds and the real 703 00:35:37,360 --> 00:35:40,680 Speaker 1: value of the currency fluctuates wildly from month to month, 704 00:35:41,200 --> 00:35:44,720 Speaker 1: all permanent relations between debtors and creditors. To your point, credit, 705 00:35:45,040 --> 00:35:48,040 Speaker 1: which formed the ultimate foundation of capitalism, become so disordered 706 00:35:48,040 --> 00:35:50,920 Speaker 1: as to be almost meaningless. Here's the best part. The 707 00:35:51,000 --> 00:35:57,480 Speaker 1: process of wealth getting degenerates into a gamble and a lottery. Wow. 708 00:35:57,560 --> 00:35:59,200 Speaker 1: So he said that over a hundred years ago, and 709 00:35:59,239 --> 00:36:01,800 Speaker 1: so by deep asen the currency. Basically, it evolves to 710 00:36:01,840 --> 00:36:03,759 Speaker 1: a point where all order is broken and the best 711 00:36:03,800 --> 00:36:06,839 Speaker 1: way to make money is gambling. So to your point 712 00:36:06,840 --> 00:36:09,160 Speaker 1: with the game stop right now, everybody wants to gamble, 713 00:36:09,160 --> 00:36:12,160 Speaker 1: everybody wants to trade options on robin Hood and uh, 714 00:36:12,200 --> 00:36:14,239 Speaker 1: it is the best way to make money today. But 715 00:36:14,280 --> 00:36:16,520 Speaker 1: that's a problem. And uh maybe with the right education 716 00:36:16,560 --> 00:36:18,880 Speaker 1: we can change that. So anyway, I'm all for it. 717 00:36:18,920 --> 00:36:21,880 Speaker 1: I love I love the idea of increasing the financial literacy. 718 00:36:21,920 --> 00:36:25,160 Speaker 1: It's it's super important and so um and and I'd 719 00:36:25,160 --> 00:36:27,399 Speaker 1: love to see Brad Sherman get out. Thanks so much 720 00:36:27,440 --> 00:36:29,399 Speaker 1: for joining UM again. I'm you're listening to the Mark 721 00:36:29,440 --> 00:36:31,320 Speaker 1: Ma Show. I'm in the studio with Erica Rhode. She 722 00:36:31,480 --> 00:36:34,399 Speaker 1: is running for Congress, the U. S. House of Representatives 723 00:36:34,880 --> 00:36:38,640 Speaker 1: in California at thirty second district. What's the what's the 724 00:36:38,719 --> 00:36:41,360 Speaker 1: website they can check out more there's Erica Rhodes. Yeah. 725 00:36:41,360 --> 00:36:44,000 Speaker 1: So it's Erica with two A so A A R 726 00:36:44,080 --> 00:36:48,080 Speaker 1: I K A for fo R Congress dot com. And 727 00:36:48,360 --> 00:36:50,560 Speaker 1: something that would be very advantageous for us is to 728 00:36:50,600 --> 00:36:52,680 Speaker 1: make sure if you live in the thirty second district, 729 00:36:52,680 --> 00:36:56,720 Speaker 1: which is the West San Fernando Valley, Malibu Palaceades and 730 00:36:56,960 --> 00:37:00,319 Speaker 1: uh Tapana. Make sure you are registered to vote, and 731 00:37:00,360 --> 00:37:04,040 Speaker 1: then the primaries on June seven, and we also have 732 00:37:04,400 --> 00:37:06,880 Speaker 1: now in California mail in ballots, so if you can't 733 00:37:06,880 --> 00:37:10,120 Speaker 1: make it out on that day, please please vote that day. 734 00:37:10,520 --> 00:37:13,920 Speaker 1: It's really important that we win our primary. And if 735 00:37:13,920 --> 00:37:16,759 Speaker 1: you can't, please donate to our campaign. We're going up 736 00:37:16,800 --> 00:37:20,560 Speaker 1: against a two you know, decade incumbent, Brad Sherman, and 737 00:37:20,600 --> 00:37:22,880 Speaker 1: we need every contribution we can to make sure that 738 00:37:22,920 --> 00:37:26,920 Speaker 1: we can you know, win this primary, So every dollar 739 00:37:27,320 --> 00:37:30,480 Speaker 1: absolutely healthy. And you can donate in bitcoin through Lightning Network, 740 00:37:30,560 --> 00:37:33,520 Speaker 1: so we are very excited to have that. That's actually 741 00:37:33,560 --> 00:37:36,799 Speaker 1: better to donate in bitcoin to be host. So thank 742 00:37:36,840 --> 00:37:39,120 Speaker 1: you so much, Mark for having me, and thank you 743 00:37:39,200 --> 00:37:42,799 Speaker 1: for caring about financial literacy and young people. I really 744 00:37:42,800 --> 00:37:45,880 Speaker 1: appreciate that. All right, thanks so much. Erka, you're listening 745 00:37:45,920 --> 00:37:49,280 Speaker 1: to the Mark ma Show talking about bitcoin. Thanks for listening.