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Speaker 1: Preston piss needs no introduction. So of course, as always,

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Speaker 1: we get into some crazy talk before. So we were

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Speaker 1: talking about, let's just jump right in. I want to

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Speaker 1: talk to you about this global bond market. But we're

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Speaker 1: talking about money transmission, sending money overseas, and we're talking

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Speaker 1: about how do we want to talk about what asset? No?

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Speaker 2: I mean, I mean I'm talking about lightning and how

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Speaker 2: you know there's not.

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Speaker 1: Enough liquidity to send massive amounts of money through global settlement?

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Speaker 2: Yeah, yeah, I just when I look at Lightning and

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Speaker 2: I look at Layer one bitcoin and you just see

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Speaker 2: that it's a true free and open market. The demand

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Speaker 2: for Layer two right now is not at a point where,

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Speaker 2: you know, if I wanted to send five thousand dollars

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Speaker 2: worth of bitcoin on Layer two or ten thousand, you're

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Speaker 2: probably going to run into some limitations with that as

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Speaker 2: far as channel management unless you've opened like massive channels,

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Speaker 2: and we're obviously talking about if like somebody else was

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Speaker 2: managing the custody of those channels on your behalf. I

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Speaker 2: guess just not there from a capacity standpoint. But it's

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Speaker 2: also because the demand hasn't fully arrived. We're at the

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Speaker 2: infancy of that. So I just think it's something that's

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Speaker 2: going to naturally solve itself with enough time and enough

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Speaker 2: demand that starts popping up in the global South and

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Speaker 2: maybe resourcing to resourcing because of AI and micro payments,

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Speaker 2: like all that stuff is in my humble opinions coming.

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Speaker 1: And why do they even need that much liquidity? If

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Speaker 1: you want to send one hundred million dollars, just send

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Speaker 1: it on maintained.

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Speaker 2: Well, that's right. So like if it's a large amount,

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Speaker 2: like if you're settling on a house, like I'm sorry,

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Speaker 2: you're just never going to do that on layer two.

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Speaker 2: You're going to do that on layer one? Why would

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Speaker 2: you want to Why would you want to want the security?

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Speaker 2: It's ten minute blocks, Like you're one hundred x better than.

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Speaker 1: Even if you're doing it at peak time like we

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Speaker 1: just had with the ordinal thing. What are you going

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Speaker 1: to pay one hundred bucks to settle it?

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Speaker 2: Yeah, not even or whatever.

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Speaker 1: Yeah, it wouldn't even be that.

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Speaker 2: It would be significantly lower than that. So I think

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Speaker 2: it's just for a lot of us, like we can

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Speaker 2: see kind of where this is all going, and we're

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Speaker 2: a little impatient because like, how how can't we just

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Speaker 2: be there right now, Why why isn't this happening? And

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Speaker 2: and then you get the whole uh, all the all

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Speaker 2: the things happening on the fringes of all these other

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Speaker 2: tokens that are saying, well, we do have the liquidity, right,

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Speaker 2: but you don't have the security and you don't have

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Speaker 2: the decentralization, which therefore means you don't have the twenty

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Speaker 2: one million hard cap because you don't have those other

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Speaker 2: two things right.

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Speaker 1: Right, and so especially Ethereum, Yeah, I mean, because they

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Speaker 1: they just decided to become ultrasound money. But the fact

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Speaker 1: that they changed it disproved that, Yeah, exactly. At least

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Speaker 1: at least XRP hasn't changed one hundred million tokens. I mean,

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Speaker 1: at least they haven't changed it yet yet, whereas Ethereum

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Speaker 1: they seem to change all the time. Yeah, yeah, so yeah,

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Speaker 1: I agree. I mean, it doesn't have liquidity, but again,

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Speaker 1: why does it need to If you want to transfer

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Speaker 1: a large amount of money, you would think you would

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Speaker 1: want that to be immutable.

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Speaker 2: Yeah, right now, where I think the debate on layer

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Speaker 2: two gets really interesting when you're thinking of it like

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Speaker 2: five years, ten years from now, is like, what's going

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Speaker 2: to be really dominant between like people that are just

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Speaker 2: outsourcing the custody and the channel management, or are people

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Speaker 2: actually going to want to do some of that on

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Speaker 2: their own. And I think that's up for debate. I

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Speaker 2: know when I'm using noster or you know, sending SATs

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Speaker 2: to a friend or whatever, and it's a small, like

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Speaker 2: micro size, like I'm sending somebody five cents worth of bitcoin.

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Speaker 2: Like what I find myself doing, and I guess I'm

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Speaker 2: a little ashamed to say this as a bitcoiner is

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Speaker 2: like I open up wault of Satoshi because it just

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Speaker 2: works and it's simple and that like I'm not managing

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Speaker 2: the key. Somebody else is managing the keys, and like

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Speaker 2: if I've done it with one hundred dollars worth of

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Speaker 2: bitcoin and it's gone, I just load another hundred dollars

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Speaker 2: a bitcoin in there. Because the speed at which all

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Speaker 2: of their channels that they've opened through their node network

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Speaker 2: that they run is just it's just so turnkey. Yeah,

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Speaker 2: and if I mess up or it gets compromised, like

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Speaker 2: the email that's associated with gets compromised, like it's one

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Speaker 2: hundred bucks whatever. Yeah, right, I'm curious that like five

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Speaker 2: years from now, is that how most people in the

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Speaker 2: world are wanting to use it, and if so, is

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Speaker 2: that an issue that is that a attack factor? Is

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Speaker 2: that a centralizing you know?

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Speaker 1: I don't think so. I was just outside with Gary

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Speaker 1: cardone grand card owns brother, and I mean, he's very

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Speaker 1: very smart, very blown away, but he's not at the

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Speaker 1: level that most people are. So, for example, I was

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Speaker 1: talking about wallets, meaning like that's the toasty wallet or whatever,

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Speaker 1: and like he wasn't up to speed. So he's like,

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Speaker 1: I don't really understand this, and I was like, okay, Well,

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Speaker 1: he's like, you know, I don't want to. I don't

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Speaker 1: know if I trust a one. And I was like, so,

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Speaker 1: I like, I have this, like how much cash do

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Speaker 1: you carry around? A couple hundred bucks? He's like they're

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Speaker 1: probably more in that, but the point is you don't

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Speaker 1: carry more cash here than you'd want to lose exactly.

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Speaker 1: He's like, yes, maybe a thousand bucks. I'm like, yeah,

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Speaker 1: if you lose a thousand bucks, nobod deal, right, So

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Speaker 1: that's what you'd carry here. To your point, if I

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Speaker 1: use a hosted solution and I lose it, like whatever,

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Speaker 1: I keep the rest in cold storage, just like you

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Speaker 1: would with your bank and so you didn't get that.

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Speaker 1: And then I showed him like I opened up Venmo

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Speaker 1: and I was like, if I want to pay you

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Speaker 1: on Venmo, I would, and I did. I opened up

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Speaker 1: in mycet, I hit pay and it opens up to

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Speaker 1: scans and now you got to show me your QR

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Speaker 1: code and then I venmo cure and then I opened

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Speaker 1: up blue wallet. That's what I just used to get

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Speaker 1: Safety's new book downstairs. And open up blue wallet and

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Speaker 1: I shows how many SATs I have send and opens

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Speaker 1: up a thing to scan a QR code like it's

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Speaker 1: the exact same thing, and he got it. He didn't know.

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Speaker 1: Is that easy? But to the point that you're making

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Speaker 1: you use that wall to care around a little bit

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Speaker 1: of money, whether you want to use on a hosted

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Speaker 1: solution or not. And I think the key piece here

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Speaker 1: is that you can choose the trade off that you want.

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Speaker 1: That's the key piece, no doubt about it.

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Speaker 2: And we want it to be a There's one thing

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Speaker 2: we all learned and pitcoin is like, I want to

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Speaker 2: free and open market. I don't want to dictate anything.

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Speaker 2: I just want to make sure that if a person

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Speaker 2: wants to have the option to run their own note

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Speaker 2: and to manage their their champ that somehow, some way

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Speaker 2: that does not ever become from an engineering standpoint, removed

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Speaker 2: through some type of disincentive that I'm not thinking about today.

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Speaker 2: And so although I don't think that's going to be

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Speaker 2: the case in five years from now, that like a

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Speaker 2: wallet of Satoshi where they're a custodying the private keys

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Speaker 2: on layer two becomes this dominant thing and that the

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Speaker 2: other gets pushed away. I don't think that's going to

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Speaker 2: be the case. But I don't know that I've spent

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Speaker 2: enough mental rigor working through the game theory, working through

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Speaker 2: the engineering, working through the vulnerabilities, and like what might

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Speaker 2: pop out of it. So like I'll give you another

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Speaker 2: example of like a vulnerability that I'm thinking a lot

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Speaker 2: about is like on the inscription side, huge topic right now, right,

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Speaker 2: And so David Bailey, love him, wicked smart, right, He's

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Speaker 2: he's looking at everything that's happening on the inscription side

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Speaker 2: and he's saying, Hey, everybody that was doing all these

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Speaker 2: bs activities and he's like, in their activities on Ethereum

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Speaker 2: and like all these other chains, He's like, they're coming

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Speaker 2: the Bitcoin, right, He's like, but it's not a bad thing.

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Speaker 2: And the reason it's not a bad thing is because

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Speaker 2: if they're not actually creating economic value, like, it'll only

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Speaker 2: persist for so long and then they're going to be

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Speaker 2: bankrupt because nobody they weren't, you know, like actually having

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Speaker 2: real customers. It was all just fake. And he's like,

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Speaker 2: but it's utility. It's people coming here and using the network.

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Speaker 2: You might not agree with how they're using the network.

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Speaker 2: So like, that's his argument, right, and I agree with

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Speaker 2: all of that, But I also look at it from like, Okay,

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Speaker 2: so five years from now, is are these people going

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Speaker 2: to create some massive campaign to increase the block size

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Speaker 2: because they don't want the miners similar to like what

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Speaker 2: you saw on ethereum eating up all this value? And

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Speaker 2: so is there this Does this introduce kind of a

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Speaker 2: initiative that is going to bring back the whole argument

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Speaker 2: for large blocks?

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Speaker 1: I don't.

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Speaker 2: I have no idea, but as somebody who's just trying

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Speaker 2: to assess risk, you know, in the future, where does

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Speaker 2: that go?

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Speaker 1: Well, a couple of things I'd say about that. So,

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Speaker 1: first of all, unintended consequences in complex systems exactly, So

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Speaker 1: when they made the upgrade, they didn't think that this

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Speaker 1: would happen. Is the unintended consequence of that previous action,

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Speaker 1: which is why myself and I'm sure you, I know

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Speaker 1: Michael Saylor has been vocal about like let's just leave

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Speaker 1: it as it is, like let's bring the changes on

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Speaker 1: higher levels. So because unintended consequence. Yes, The other thing

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Speaker 1: I'd say about that is, of course anyone can change

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Speaker 1: the blocks as anytime they want, fork it, go ahead

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Speaker 1: and fork it right the market at the market choose.

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Speaker 1: But when I was doing the news desk this morning

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Speaker 1: and with Pete Rizzo and we were kind of talking

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Speaker 1: about this, and he was saying that he also thinks

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Speaker 1: it's a good thing because it's actually taken away all

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Speaker 1: the other chain's main use case because their whole marketing

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Speaker 1: pitches Bitcoin is all technology. It can't do this stuff. Yes,

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Speaker 1: it just did.

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Speaker 2: So that's David's point. And so like, I don't disagree

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Speaker 2: with David, but I'm as the engineer, like coming out,

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Speaker 2: I was like, Okay, so what is it that we're

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Speaker 2: not thinking about? What's the unintended consequence of this? And

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Speaker 2: you know, in my opinion today and I get most

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Speaker 2: of this because Pierro shirt I value his intellectual engineering

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Speaker 2: opinions so much, and like he looked at me, He's like,

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Speaker 2: what's the emergency. Nothing's breaking. This is great for miners

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Speaker 2: as of right now. It's great for expanding the channel

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Speaker 2: capacity on layer two because now you saw all these

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Speaker 2: exchanges buying its coin coin base, like all these exchanges

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Speaker 2: that were like, yeah, cool story, but like, we're not

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Speaker 2: doing layer two now. Literally within a week they're like

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Speaker 2: all of a sudden doing Layer two stuff. And so

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Speaker 2: you know, we have to have that stress in order

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Speaker 2: to grow, that's right. So you've got to stress the system.

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Speaker 2: And then to your point, maybe we even have new

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Speaker 2: layer twos that pop up that have new you know,

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Speaker 2: new things or whatever. And you did an interview with

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Speaker 2: Jason Laurie which I had reteated at one point. I

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Speaker 2: thought it was an amazing interview.

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Speaker 1: And at the end of the interview, I think you'd

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Speaker 1: asked him if you could say something to lawmakers, what

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Speaker 1: would you say, And he said he said, I would

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Speaker 1: tell them that just because it says bit, just because

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Speaker 1: that's coin the name, doesn't mean it to be regulated

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Speaker 1: by financial industry, no more than Amazon's cloud should be

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Speaker 1: regulated by meteorologists. And while I don't know if I

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Speaker 1: agree with his entire thesis, I love the different angles

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Speaker 1: that he comes from. And part of it is I

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Speaker 1: think about and you have a Bitcoin the network, and

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Speaker 1: you have Bitcoin the asset BTC, and so if you

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Speaker 1: think about the network itself, so you have a global, permissionless,

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Speaker 1: censorship resistant, immutable, decentralized network. And so then like what

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Speaker 1: could you do with that network? Right? And so this

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Speaker 1: Ordinals is showing us what you can do with the network.

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Speaker 1: So certainly all new technologies, if you go to the

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Speaker 1: invention of electricity, the first killer application was a light bulb.

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Speaker 1: That the first killer application was money, a digital asset.

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Speaker 1: But what else could this network do? And so the

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Speaker 1: Ordinals are showing us So like for decades people have

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Speaker 1: risked their lives smuggling physical copies of Bibles into authoritarian regimes,

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Speaker 1: and now the King James Bible is on the bitcoin blockchain, right,

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Speaker 1: three D gun schematics or whatever it is, and like

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Speaker 1: that just starts to make it seem way bigger. And

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Speaker 1: so while putting JPEGs on there seems stupid, you know,

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Speaker 1: now your point is super profound.

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Speaker 2: It is, and and so that's why you know like you,

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Speaker 2: I'm just like, hey, let's just wait, like just calm

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Speaker 2: the calm down. Yeah right, Yeah, there's no emergency. The

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Speaker 2: building's not on fire. In fact, like we're seeing benefits

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Speaker 2: actually from the fees popping out for like literally incentivizing

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Speaker 2: growth in these other areas that we need to have

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Speaker 2: infrastructure and growth happening. And I think it's a little

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Speaker 2: bit uh, you have a lot of hubrists to think

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Speaker 2: you understand how any of that block space is going

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Speaker 2: to be used ten years from now or twenty years

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Speaker 2: from now.

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Speaker 1: Like or to say who can use the block space? Amen?

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Speaker 1: I mean so now you can't use electricity, mind, but

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Speaker 1: you can usely Like now we're into that now.

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Speaker 2: Well, so let me push back. So with all of

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Speaker 2: that said, there's an analogy I like to use here. Okay,

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Speaker 2: So chess, okay, right, So when you look at the

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Speaker 2: pawn's you got values on the pieces. The pawn's worth one,

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Speaker 2: the bishop, the knight, it's worth three, the Rook's worth five,

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Speaker 2: the Queen's worth nine, the king. The king's value is unlimited, right,

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Speaker 2: because if you lose the king, the game is over.

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Speaker 2: You lost, right. So when I apply this to bitcoin,

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Speaker 2: I'm saying, what's the king, right, what's the pawn? And

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Speaker 2: why why would the king be unlimited value?

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Speaker 1: Right?

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Speaker 2: So so for me personally, for me personally, you know,

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Speaker 2: I served in the military, I lived in a combat zone.

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Speaker 2: I was basically the proof of work minor of the

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Speaker 2: legacy system. Okay, serving right, Yeah, And I'm looking at

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Speaker 2: what incentives that pop out of that legacy system, which

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Speaker 2: is you're not actually incentivizing exchange in a way that

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Speaker 2: can't be, that's not immutable that there's bad actors that

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Speaker 2: can step in, whether it's this country or that country.

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Speaker 2: I'm not going in that direction. But what I'm saying

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Speaker 2: is we have an opportunity to literally have a phase

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Speaker 2: transition for humanity for the very first time in human

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Speaker 2: history that incentivizees global cooperation. It's as profound as the

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Speaker 2: ATP as an acting currency between all the organs in

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Speaker 2: your body. That's what we're That is what bitcoin is

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Speaker 2: truly representing. And for me, that's the king. You can't

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Speaker 2: sacrifice that ever, no matter what, Like it's that profound

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Speaker 2: of an idea for an inscription, because now I don't

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Speaker 2: have to go to the Triple A office and like

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Speaker 2: get the rubber stamp from from Sally saying, yes, you

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Speaker 2: you went to this office and you were here at

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Speaker 2: twelve nineteen. And I don't even know what's on the document,

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Speaker 2: but you were here at twelve nineteen. Here's the stamp, right,

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Speaker 2: Like to me, that's the pawn or like that's a bishop, right,

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Speaker 2: and like we cannot as a community, we cannot give

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Speaker 2: up the king on the board, which are in money.

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Speaker 1: What's giving up the king money? So you're saying if

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Speaker 1: these inscriptions were to crowd out money, so if they

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Speaker 1: became worth more than.

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Speaker 2: We lost the game.

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Speaker 1: So let me let me, let me, let me let

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Speaker 1: me flip this a little bit, not flip, but let's

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Speaker 1: dig into that a minute. So as things evolve over time,

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Speaker 1: we expand our definitions of things. So for example, in

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Speaker 1: the eighties still and you know, up to the eighties

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Speaker 1: and into the nineties, even what would what do we

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Speaker 1: consider information?

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Speaker 2: So figure about just what information was?

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Speaker 1: Well, I read the morning newspaper from three people, I

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Speaker 1: have the three channels the night of the news, and

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Speaker 1: I guess there are some books in the library, right,

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Speaker 1: that's information. Today. You have a kid in Indonesia post

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Speaker 1: a picture on Instagram, and I know what the waves

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Speaker 1: are like and what the weather's like. I said, what

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Speaker 1: type of trees are there? And so like information has expanded.

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Speaker 1: When Karl Marx with the Communist Manifesto, he was mad.

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Speaker 1: He don't want to be an attorney. He wanted to

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Speaker 1: be a philosopher. Nobody valued philosophy at the time, and

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Speaker 1: so what he wrote is that the poor have no capital.

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Speaker 2: All they have is their labor.

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Speaker 1: Well, today you can get capital by writing philosophy. So

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Speaker 1: like definition change. So back to money. We don't want

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Speaker 1: to lose money. It's the most important thing. But what

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Speaker 1: is money? Money communicates value, That's.

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Speaker 2: Right, it's the honest ledger, it's the community. So like

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Speaker 2: Claude Shannon, right, it's all about information theory of exchanging information.

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Speaker 2: So if I come and I do some work for you,

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Speaker 2: and you want to pay me, like, nobody can corrupt

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Speaker 2: that communication of like what happened.

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Speaker 1: What if I want to provide my labor to you,

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Speaker 1: or I want to trade you this iPhone, or I

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Speaker 1: want to give you this book, or I want to

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Speaker 1: give you a three D guns comatic that could be

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Speaker 1: money as a medium of exchange. I can exchange this

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Speaker 1: item for that thing. And so if I'm putting three

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Speaker 1: D guns commatics on the blockchain, is that my I mean,

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Speaker 1: it communicates value and I don't know. This is like

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Speaker 1: we'll see what happens. But I understand what you're saying.

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Speaker 2: Well, and I'm not even using that example. I'm not

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Speaker 2: saying that that's what it is doing. I'm just saying

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Speaker 2: we got to make sure on a long timescale, right,

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Speaker 2: Like here, I'll give you an example. So like let's

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Speaker 2: say it's five years into the future and we have

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Speaker 2: people that are crowded like the FIAT system, right, they

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Speaker 2: can print as much of that stuff as they want, Yeah,

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Speaker 2: which can act as an attack vector if if the

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Speaker 2: right person already was and maybe it already was, but

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Speaker 2: now they're just they're literally blowing out the mind pool

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Speaker 2: and like the fees are blowing out, and like you're

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Speaker 2: in this. I mean, it's a perpetual money machine that

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Speaker 2: has no limits, right, Like maybe there needs to be

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Speaker 2: something that that needs to be discussed, but like I

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Speaker 2: don't think people should even remotely entertain that until like

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Speaker 2: years from now that it's demonstrating like hey, this is

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Speaker 2: continually getting worse and it doesn't seem like there's and

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Speaker 2: I don't think this is what's going to happen, right,

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Speaker 2: but if it did. But because I just have an

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Speaker 2: appreciation for my total lack of actually understanding what something

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Speaker 2: could look like that far out in the future, I'm

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Speaker 2: just saying that we have to always remember that first

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Speaker 2: and foremost, no matter what, it has to serve as money, right,

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Speaker 2: And you can get into the intellectual debate on money

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Speaker 2: what money is, and you know, we'll leave that for Robert.

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Speaker 1: Yeah, yeah, I hear what you're saying. And so you know,

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Speaker 1: there's already things that prevent spamol and things like that,

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Speaker 1: and so again, but to your point, I would agree

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Speaker 1: at first, and I was a little bit guilty, and

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Speaker 1: you know, we kind of have to think about these things.

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Speaker 1: But at first I was like, oh, man, you know,

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Speaker 1: why do they make these changes? And this is undertend

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Speaker 1: the consequence, and we should think about these things. And

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Speaker 1: then you start getting too this kind of like knee

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Speaker 1: jerk reaction, and that's the problem because you realize I

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Speaker 1: could change it to stop this, but then what else

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Speaker 1: am I doing? And so we just don't know.

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Speaker 2: And I think Michael, you know, he talks a lot

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Speaker 2: about just like the first layer solidified, like just like,

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Speaker 2: let's go to layer two to what I mean. And

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Speaker 2: I think he's I think he's very right, you know,

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Speaker 2: if I was gonna put my my chips down on

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Speaker 2: like who's right, Like, I think he's right. Yeah, And

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Speaker 2: I think that it's just gonna the free and open market.

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Speaker 2: If there's one thing bitcoins taught me is like, just

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Speaker 2: give it some time, and the free and open market

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Speaker 2: is going to figure out, like where what is value

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Speaker 2: and if it if it's an like in value or

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Speaker 2: if what the activity is isn't adding value to some

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Speaker 2: end user, Like, it's just going to naturally sort that out.

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Speaker 2: It might not be at the timeline that you like,

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Speaker 2: but it's going to.

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Speaker 1: Sort it out.

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Speaker 2: It's going to figure out how to take care of it.

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Speaker 1: Yeah. I hadn't really planned on going down that rabbit hole.

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Speaker 1: But it was a fun conversation. I told you before,

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Speaker 1: I was really enjoying the kind of the I don't know,

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Speaker 1: the thesis that you threw out in Wyoming when you

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Speaker 1: talked about like the bond market and how yeah it's shifting,

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Speaker 1: and then I heard you talk about it again somewhere

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Speaker 1: else I forget or so many places.

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Speaker 2: I don't think people. I think most people they're so

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Speaker 2: detached from and so like when they look at and

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Speaker 2: just to.

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Speaker 1: Tee this up. We have this global financial system that's

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Speaker 1: on the verge of teet around the brink of collapsing

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Speaker 1: around the world, not just in the United States. Obviously,

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Speaker 1: the bond marketing the States, which is the deepest globe,

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Speaker 1: you know, deepest market bond market in the world, is

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Speaker 1: teeter around. The banks are failing, but also globally we're

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Speaker 1: in the same situation. And so bonds have been money

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Speaker 1: or the main store of value. Yes, and so I

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Speaker 1: think that's kind of where you would build this. So

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Speaker 1: we're witnessing, you know, this the first kind of sovereign

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Speaker 1: debt crisis in over one hundred years, and so that's

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Speaker 1: kind of where we pick up with this, right.

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Speaker 2: Yeah. So Michael was doing an interview I don't remember

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Speaker 2: who it was with, but he's talking about bitcoin being

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Speaker 2: this bedrock that you can build upon, right and just

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Speaker 2: kind of like taking that example but applying it to

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Speaker 2: the legacy system for the last four.

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Speaker 1: Years, this new harder asset, he calls it like a

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Speaker 1: harder asset compared to the existing soft asset.

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Speaker 2: You can build on this bedrock because it doesn't deflect

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Speaker 2: like the ground isn't deflecting, right, And so I just

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Speaker 2: I guess I'm describing it to people who I don't

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Speaker 2: think are familiar with the legacy system. Is the bedrock

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Speaker 2: that we used to build on was really good. This

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Speaker 2: treasury market. For forty years for people that were paid

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Speaker 2: in US treasuries, the value just kept going up. So

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Speaker 2: that's a place that you can actually store. If I

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Speaker 2: earn one hundred dollars and I plug that into the

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Speaker 2: treasury market, yield keep going down. The value, especially if

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Speaker 2: you were doing it with long duration bonds like that

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Speaker 2: value is like aggressively getting better. So for everybody in

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Speaker 2: the world, for the last forty years before COVID hit,

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Speaker 2: they were very happy using the treasury market as their bedrock.

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Speaker 2: And the reason why was because it wasn't just storing

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Speaker 2: their value, it was making the value appreciate for them.

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Speaker 2: And what about the forty years previous. The forty years previous,

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Speaker 2: interest rates were going up and that was not the dynamic, right,

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Speaker 2: But the way that that was offset is through the

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Speaker 2: adjustment through the monetary baseline. That the race is how

431
00:21:00,920 --> 00:21:02,840
Speaker 2: that was offset, and that's how that's why you in

432
00:21:02,840 --> 00:21:05,120
Speaker 2: my opinion, and people will argue this, but that's why

433
00:21:05,160 --> 00:21:07,400
Speaker 2: you got the inflation, you got into the you know,

434
00:21:07,480 --> 00:21:12,800
Speaker 2: eighty one when it peaked out, right, So so I

435
00:21:12,800 --> 00:21:15,600
Speaker 2: think that's important for bitcoiners to start with, is because

436
00:21:16,359 --> 00:21:19,280
Speaker 2: the legacy system's evil and all these things, and it

437
00:21:19,320 --> 00:21:22,480
Speaker 2: does create all these these warped incentives, especially when it's

438
00:21:22,520 --> 00:21:25,200
Speaker 2: not backed and people are not even they're not even

439
00:21:25,240 --> 00:21:27,720
Speaker 2: faking that it's backed anymore, because you know, supposedly it

440
00:21:27,760 --> 00:21:31,800
Speaker 2: was back from Bretton Woods to seventy one and everything

441
00:21:31,800 --> 00:21:35,800
Speaker 2: there in between, but it was back, but they were

442
00:21:35,800 --> 00:21:39,480
Speaker 2: adjusting the money multiplier, so it really it really wasn't

443
00:21:39,520 --> 00:21:42,159
Speaker 2: it was constantly failing. It was just a really slow failure.

444
00:21:42,200 --> 00:21:42,400
Speaker 1: Right.

445
00:21:42,880 --> 00:21:46,800
Speaker 2: So but my point, my point being is when we

446
00:21:46,920 --> 00:21:49,920
Speaker 2: when we look back prior to COVID, when everything I

447
00:21:49,960 --> 00:21:54,320
Speaker 2: think everything's kind of deflecting now in that legacy system

448
00:21:54,440 --> 00:21:59,760
Speaker 2: that used to demonstrate bedrock that actually got stronger, and

449
00:21:59,800 --> 00:22:02,359
Speaker 2: so when you're building on something that's getting stronger and

450
00:22:02,480 --> 00:22:05,560
Speaker 2: more solidified, like everybody just wants to build on top

451
00:22:05,600 --> 00:22:08,679
Speaker 2: of that, right, But now you like I would argue

452
00:22:08,720 --> 00:22:11,320
Speaker 2: that the would we get up to like eight percent

453
00:22:11,600 --> 00:22:15,200
Speaker 2: inflation on CPI nine point one? Yeah, it was even

454
00:22:15,240 --> 00:22:18,440
Speaker 2: higher than that nine point one on the CPI gauge

455
00:22:18,440 --> 00:22:21,159
Speaker 2: on this last mini cycle whatever you want to call it.

456
00:22:21,280 --> 00:22:23,920
Speaker 2: Everyone's like, whoa what was that? Like they're in these

457
00:22:23,960 --> 00:22:26,760
Speaker 2: legacy buildings that are all built on top of this

458
00:22:26,760 --> 00:22:29,560
Speaker 2: this bedrock, and it deflected and like the pictures are

459
00:22:29,560 --> 00:22:30,280
Speaker 2: moving are like what.

460
00:22:30,200 --> 00:22:31,160
Speaker 1: The what the hell was that?

461
00:22:31,440 --> 00:22:35,240
Speaker 2: Yeah, and like that was just the first shock because

462
00:22:35,280 --> 00:22:37,680
Speaker 2: the next what's coming next? And we can all see

463
00:22:37,680 --> 00:22:40,760
Speaker 2: it with the debt ceiling coming and the you know,

464
00:22:41,400 --> 00:22:44,200
Speaker 2: since what was it October November, they've been draining the

465
00:22:44,680 --> 00:22:48,520
Speaker 2: Treasury General account basically weakening the dollar and it's been

466
00:22:48,640 --> 00:22:51,359
Speaker 2: just the total charade for you know, since we'll call

467
00:22:51,440 --> 00:22:55,280
Speaker 2: it November October. And now you got like I don't know,

468
00:22:55,359 --> 00:22:58,000
Speaker 2: like fifty billion dollars left in the treasury Treasury General

469
00:22:58,000 --> 00:22:59,919
Speaker 2: account and they're about to hit the ceiling and like

470
00:23:00,240 --> 00:23:02,160
Speaker 2: you know, on the hill they can't agree on raising

471
00:23:02,200 --> 00:23:06,360
Speaker 2: the ceiling like it's about to get it'll be spicy

472
00:23:06,400 --> 00:23:09,320
Speaker 2: by the time this airs, most likely. Yeah, yeah, and

473
00:23:09,400 --> 00:23:12,760
Speaker 2: so so how are they going to offset that. They're

474
00:23:12,760 --> 00:23:16,080
Speaker 2: going to have to offset that with so much printing

475
00:23:16,520 --> 00:23:19,320
Speaker 2: to the tune of trillions, if not tens of trillions

476
00:23:19,320 --> 00:23:22,560
Speaker 2: at dollars. And like we hit nine point one here

477
00:23:22,560 --> 00:23:25,399
Speaker 2: in the States, there's still double digits over in Europe

478
00:23:25,400 --> 00:23:28,080
Speaker 2: in some places in Europe, and you go outside of there,

479
00:23:28,119 --> 00:23:30,280
Speaker 2: and then now you're talking fifty percent to one hundred

480
00:23:30,280 --> 00:23:34,200
Speaker 2: percent annual inflation. Like, look at the pain you're seeing

481
00:23:34,680 --> 00:23:38,000
Speaker 2: in this country with nine point one and now we're

482
00:23:38,160 --> 00:23:41,400
Speaker 2: like five something, right, Like the pain you're seeing. Could

483
00:23:41,440 --> 00:23:47,320
Speaker 2: you imagine going into a country like Argentina, right, what

484
00:23:47,480 --> 00:23:51,040
Speaker 2: is it? Thirty million people live in that it's it's

485
00:23:51,080 --> 00:23:53,240
Speaker 2: ten percent of the US population, and they're dealing with

486
00:23:53,280 --> 00:23:55,960
Speaker 2: one hundred percent annual inflation and they've already got a

487
00:23:56,000 --> 00:23:58,120
Speaker 2: new old time high when they compare the bitcoin price

488
00:23:58,160 --> 00:24:02,200
Speaker 2: to their local currencies. You think those people aren't seeing

489
00:24:02,280 --> 00:24:06,359
Speaker 2: something right now? Right, And so like the deflection for

490
00:24:06,680 --> 00:24:10,399
Speaker 2: us is it nearly as profound as the deflection for

491
00:24:10,720 --> 00:24:14,159
Speaker 2: most other places around the world. And they're seeing it,

492
00:24:14,160 --> 00:24:16,280
Speaker 2: and they're saying, all right, so where's the new bedrock?

493
00:24:16,760 --> 00:24:19,760
Speaker 2: Where are we going to build? Because where everything was

494
00:24:19,800 --> 00:24:23,280
Speaker 2: constructed for the last forty years is coming on glued

495
00:24:24,119 --> 00:24:29,040
Speaker 2: and the shocks are getting more profound, and they ain't

496
00:24:29,080 --> 00:24:32,919
Speaker 2: seen nothing yet like the shocks. In the coming three years,

497
00:24:33,280 --> 00:24:35,520
Speaker 2: they're going to really see some deflection like it was.

498
00:24:36,359 --> 00:24:38,760
Speaker 1: And on top of that, now we're entering into this

499
00:24:38,840 --> 00:24:41,359
Speaker 1: sort of a decentralized world that I like to call it,

500
00:24:41,400 --> 00:24:43,320
Speaker 1: where now the world is sort of breaking apart, this

501
00:24:43,400 --> 00:24:47,560
Speaker 1: dollar homogeny, and not only is it deflecting to where

502
00:24:47,560 --> 00:24:48,800
Speaker 1: like I don't know if I'm with put money there,

503
00:24:48,800 --> 00:24:50,360
Speaker 1: but now I have to be worried about the US

504
00:24:50,440 --> 00:24:53,400
Speaker 1: dollar being weaponized against me, sanctions and things.

505
00:24:53,240 --> 00:24:56,160
Speaker 2: They can't afford, Like in most countries they can't afford

506
00:24:56,200 --> 00:25:00,000
Speaker 2: to touch it anymore because when their debts are denominated

507
00:25:00,160 --> 00:25:02,680
Speaker 2: in dollars, they can't afford to touch it because they're

508
00:25:02,720 --> 00:25:06,600
Speaker 2: just they're getting annihilated trying to pay that back, as

509
00:25:06,760 --> 00:25:09,240
Speaker 2: you know. And so you saw a Stan and like

510
00:25:09,280 --> 00:25:11,679
Speaker 2: he reversed his opinions Stan drugg and Miller on like

511
00:25:11,720 --> 00:25:14,200
Speaker 2: the dollar. I saw something that he was very bearissed

512
00:25:14,200 --> 00:25:16,600
Speaker 2: on the dollar, and then he changed his mind. But

513
00:25:16,640 --> 00:25:18,359
Speaker 2: he might change his mind for two weeks. But I

514
00:25:18,400 --> 00:25:20,920
Speaker 2: think I think you're at this really critical point. I

515
00:25:20,920 --> 00:25:23,760
Speaker 2: think the only reason you saw the dollar sell off

516
00:25:23,880 --> 00:25:26,920
Speaker 2: there for the like the last five six months because

517
00:25:26,920 --> 00:25:29,919
Speaker 2: they were doing they were doing funny business with a

518
00:25:30,000 --> 00:25:35,639
Speaker 2: general account and now like they have to keep providing

519
00:25:35,720 --> 00:25:40,359
Speaker 2: that to provide stability in this situation where you have

520
00:25:40,440 --> 00:25:43,040
Speaker 2: more bank failures this year in twenty twenty three than

521
00:25:43,080 --> 00:25:44,720
Speaker 2: you had in two thousand and eight, which I think

522
00:25:44,920 --> 00:25:46,520
Speaker 2: the common person on the street and be like, what

523
00:25:46,560 --> 00:25:49,760
Speaker 2: are you talking about? Yeah, I think that's just getting

524
00:25:49,800 --> 00:25:52,800
Speaker 2: warmed up. I think going into the third quarter, like

525
00:25:52,920 --> 00:25:56,000
Speaker 2: second the third quarter this year, like, dude, it's going

526
00:25:56,080 --> 00:25:57,959
Speaker 2: to get crazy. I think it's going to get crazy.

527
00:25:58,760 --> 00:26:00,520
Speaker 2: That's your base case, that's my case.

528
00:26:00,720 --> 00:26:04,480
Speaker 1: Yeah, I think you can argue either way. I'm tending

529
00:26:04,680 --> 00:26:06,200
Speaker 1: I see three ways out of it. So I think

530
00:26:06,240 --> 00:26:09,800
Speaker 1: there's this muddle along, like like Argentina would have, Right,

531
00:26:09,840 --> 00:26:11,720
Speaker 1: there's kind of mudd along. We kind of go through

532
00:26:11,720 --> 00:26:15,439
Speaker 1: stagflation trade sideways. I think certainly there's plenty of reasons

533
00:26:15,480 --> 00:26:20,640
Speaker 1: why we could have a massive crash. Yeah, or well,

534
00:26:20,680 --> 00:26:21,200
Speaker 1: and when.

535
00:26:21,080 --> 00:26:24,120
Speaker 2: You say crash, like you really have to define what a.

536
00:26:24,080 --> 00:26:26,720
Speaker 1: Crash is in what Yeah, Well, I think one one

537
00:26:26,760 --> 00:26:29,200
Speaker 1: in the economy, so right, I mean, we can see

538
00:26:29,200 --> 00:26:31,479
Speaker 1: consumer spending or consumer debt going to the roof, consumer

539
00:26:31,520 --> 00:26:34,040
Speaker 1: savings dropping life flies. However, if you look at the

540
00:26:34,040 --> 00:26:37,199
Speaker 1: economic data, you know, the last quarterly reports were just

541
00:26:37,240 --> 00:26:40,280
Speaker 1: posted and revenue and profits are still doing pretty dang good. Yeah,

542
00:26:40,480 --> 00:26:42,399
Speaker 1: And unlike two thousand and eight, in two thousand and eight,

543
00:26:42,480 --> 00:26:45,760
Speaker 1: we saw a certain sector, well in two thousand and

544
00:26:45,800 --> 00:26:48,320
Speaker 1: two thousand and eight, we saw a certain sector get smashed.

545
00:26:48,400 --> 00:26:49,840
Speaker 2: Right, So it's the tech sector in two thousand.

546
00:26:49,840 --> 00:26:51,640
Speaker 1: It was the real estate sector in two thousand and eight,

547
00:26:51,880 --> 00:26:53,760
Speaker 1: and that put a massive hole in the economy, and

548
00:26:53,800 --> 00:26:55,679
Speaker 1: of course the trickle down from that. We don't have

549
00:26:55,720 --> 00:26:57,480
Speaker 1: a big hole in the economy right now.

550
00:26:58,480 --> 00:27:01,640
Speaker 2: Well, so, so where there's all the issues cropping up.

551
00:27:02,240 --> 00:27:05,080
Speaker 2: The issues are cropping up with anybody who has a

552
00:27:05,119 --> 00:27:06,680
Speaker 2: substantial amount of exposure to.

553
00:27:06,640 --> 00:27:10,000
Speaker 1: Treasuries, yeah right, which is not the retail, which is

554
00:27:10,040 --> 00:27:13,320
Speaker 1: the banks, Which is the banks. So we're witnessing the

555
00:27:13,400 --> 00:27:16,760
Speaker 1: Fiat currency crisis, which is now causing a banking crisis,

556
00:27:16,760 --> 00:27:18,879
Speaker 1: which is in a sovereign crisis, but not in the

557
00:27:18,920 --> 00:27:20,879
Speaker 1: retail consumer. And that's why I'm going back to this

558
00:27:21,000 --> 00:27:21,760
Speaker 1: economy piece.

559
00:27:21,920 --> 00:27:26,720
Speaker 2: But it'll get there extremely fast if they don't act

560
00:27:26,440 --> 00:27:30,240
Speaker 2: and red denominate all the impairment in this treasury market

561
00:27:30,320 --> 00:27:32,560
Speaker 2: with more cash infusions.

562
00:27:32,000 --> 00:27:36,399
Speaker 1: Or or witnessing banks tightening and lending for example. So

563
00:27:36,440 --> 00:27:39,160
Speaker 1: the SLUE reports show how fast they're tightening credit, which

564
00:27:39,240 --> 00:27:40,879
Speaker 1: of course will then trickle to the economy because the

565
00:27:40,880 --> 00:27:43,640
Speaker 1: businesses can't get credit. That's going to be a big problem.

566
00:27:43,920 --> 00:27:45,880
Speaker 1: We know of the one hundreds of billions of dollars

567
00:27:45,920 --> 00:27:48,200
Speaker 1: of corporate debt that has to be rolled over at

568
00:27:48,240 --> 00:27:49,840
Speaker 1: new rates, and so that's going to be jacking to

569
00:27:49,880 --> 00:27:52,800
Speaker 1: the roof. Obviously there's the massive bomb in the commercial

570
00:27:53,320 --> 00:27:56,720
Speaker 1: real estate mortgage backed security market. But the FED could

571
00:27:56,800 --> 00:27:58,760
Speaker 1: just take those on their books and they could just

572
00:27:58,880 --> 00:28:01,600
Speaker 1: roll over the bond market, which they've done. They can't.

573
00:28:01,720 --> 00:28:04,320
Speaker 2: They can't bit there at the point now mark where

574
00:28:05,119 --> 00:28:08,080
Speaker 2: every everything that they've got to do is further manipulation

575
00:28:08,160 --> 00:28:10,920
Speaker 2: of a free and open market of course, right, and

576
00:28:11,040 --> 00:28:13,479
Speaker 2: as they continue to do that in this next amount

577
00:28:13,480 --> 00:28:18,080
Speaker 2: of units that are added into into the system, like

578
00:28:18,119 --> 00:28:21,680
Speaker 2: the last COVID right that those units that everybody thinks

579
00:28:21,680 --> 00:28:23,800
Speaker 2: it was because of the virus, that that that's the

580
00:28:23,840 --> 00:28:25,680
Speaker 2: sole reason why we got the spike, and you're not

581
00:28:25,720 --> 00:28:29,000
Speaker 2: going to see something like that again. And I like

582
00:28:29,520 --> 00:28:32,879
Speaker 2: dramatically disagree with that. I think I think that was

583
00:28:32,920 --> 00:28:36,720
Speaker 2: the first step and now the next cash infusion. In

584
00:28:36,840 --> 00:28:42,600
Speaker 2: order to keep civil unrest at bay, they have to

585
00:28:42,880 --> 00:28:44,880
Speaker 2: keep the units flowing down. This is the whole reason

586
00:28:44,920 --> 00:28:46,920
Speaker 2: CBDCs are cropping. It is because they have to be

587
00:28:46,960 --> 00:28:49,160
Speaker 2: able to control it down at this level where it's like, oh,

588
00:28:50,520 --> 00:28:52,840
Speaker 2: the price of breadge just getting too far out of hands,

589
00:28:52,840 --> 00:28:54,200
Speaker 2: and now we've got cupe on so that you can

590
00:28:54,240 --> 00:28:56,000
Speaker 2: only buy half as much as what you were doing,

591
00:28:56,000 --> 00:28:58,479
Speaker 2: and like all these types of act these these weird

592
00:28:58,800 --> 00:29:02,160
Speaker 2: like it's all about ordering control as we're going further

593
00:29:02,240 --> 00:29:05,280
Speaker 2: and further down the path, and the lie of like

594
00:29:05,360 --> 00:29:08,720
Speaker 2: what inflation actually is is only going to continue to

595
00:29:08,760 --> 00:29:09,239
Speaker 2: crop up.

596
00:29:09,800 --> 00:29:11,800
Speaker 1: And I don't disagree, and I don't think any almost

597
00:29:11,800 --> 00:29:13,880
Speaker 1: anybody would disagree, And I don't think so there's two

598
00:29:13,920 --> 00:29:15,920
Speaker 1: certainties in life, death and taxes, and now there's a

599
00:29:15,960 --> 00:29:19,480
Speaker 1: third money printing. I mean, is it has to be.

600
00:29:19,760 --> 00:29:20,440
Speaker 1: It's the only way.

601
00:29:20,520 --> 00:29:22,800
Speaker 2: And their intent is order. Yeah, Like, and I think

602
00:29:22,880 --> 00:29:25,840
Speaker 2: most people when society are saying, well, I do want order.

603
00:29:25,880 --> 00:29:29,400
Speaker 2: I don't want chaos. I don't want I don't want calamity.

604
00:29:29,640 --> 00:29:33,880
Speaker 2: Yeah right, and so I and so trust me. The

605
00:29:33,920 --> 00:29:36,120
Speaker 2: last thing I want to do is go easy on

606
00:29:36,400 --> 00:29:38,840
Speaker 2: central bankers or like some of these people that are

607
00:29:38,960 --> 00:29:41,880
Speaker 2: that are making policy decisions. But at the same time,

608
00:29:41,960 --> 00:29:44,320
Speaker 2: what they seek is order. They don't want chaos, they

609
00:29:44,320 --> 00:29:47,120
Speaker 2: don't want social unrest. And truly, the only way to

610
00:29:47,160 --> 00:29:49,880
Speaker 2: do that in a fractional reserve system with an unpacked

611
00:29:49,880 --> 00:29:53,760
Speaker 2: money FIAT supply that that has been that has been

612
00:29:54,400 --> 00:29:59,680
Speaker 2: tampered with for forty years straight to prevent unrest is

613
00:29:59,880 --> 00:30:02,040
Speaker 2: more were of the same with the policies until they

614
00:30:02,280 --> 00:30:03,760
Speaker 2: literally make something pop.

615
00:30:04,120 --> 00:30:05,760
Speaker 1: So let's take it to another level. This is what

616
00:30:05,760 --> 00:30:07,400
Speaker 1: we were talking about before we recording that you want

617
00:30:07,400 --> 00:30:08,640
Speaker 1: to pause, and I think it's the perfect time to

618
00:30:08,640 --> 00:30:13,000
Speaker 1: bring this back. So they don't want unrest, they won't

619
00:30:13,040 --> 00:30:18,120
Speaker 1: order whose day? And this question is the key question.

620
00:30:18,200 --> 00:30:20,480
Speaker 1: The reason why I say this is because back to

621
00:30:20,520 --> 00:30:22,880
Speaker 1: the conversation we're having before recording, if you look at

622
00:30:22,920 --> 00:30:25,640
Speaker 1: the global board, if you look at the the world

623
00:30:25,680 --> 00:30:29,040
Speaker 1: a game of Thrones as a strategic board game, and

624
00:30:29,080 --> 00:30:30,680
Speaker 1: a lot of this I got from Tom Luwongo as

625
00:30:30,680 --> 00:30:32,200
Speaker 1: I said, we trade a lot of messages. He's been

626
00:30:32,200 --> 00:30:33,680
Speaker 1: on my channel. We've just had a two hour rip.

627
00:30:33,880 --> 00:30:36,280
Speaker 1: I think the first hour published the other day. So

628
00:30:36,280 --> 00:30:37,600
Speaker 1: if you look at if you look at the world

629
00:30:37,600 --> 00:30:40,360
Speaker 1: as a as a game of thrones, global you know

630
00:30:40,760 --> 00:30:43,880
Speaker 1: a game, you have multiple players, and so there's certainly

631
00:30:43,920 --> 00:30:46,400
Speaker 1: the bricks nations the Global South that are kind of

632
00:30:46,400 --> 00:30:48,960
Speaker 1: trying to do their own thing, and then you have

633
00:30:49,040 --> 00:30:53,560
Speaker 1: the globalist which is the euro Davos ECB group. He

634
00:30:53,880 --> 00:30:56,000
Speaker 1: would and I would agree, and we can discuss why.

635
00:30:56,080 --> 00:31:00,320
Speaker 1: But factions within the US are probably aligned with So

636
00:31:00,360 --> 00:31:05,719
Speaker 1: you have Obama Biden yelling for sure, on board with that.

637
00:31:06,160 --> 00:31:09,480
Speaker 1: But then you have US nationalists, so probably the Federal Reserve,

638
00:31:09,560 --> 00:31:11,320
Speaker 1: Jamie Diamond and some of the nationalist that to have

639
00:31:11,360 --> 00:31:13,320
Speaker 1: another faction. And the reason why that's important understanding is

640
00:31:13,320 --> 00:31:14,880
Speaker 1: as a bitcoiner, one of the biggest things that we

641
00:31:14,920 --> 00:31:18,560
Speaker 1: always hear is they will never allow something like bitcoin

642
00:31:18,600 --> 00:31:20,920
Speaker 1: to happen because they will never get up control over money.

643
00:31:21,200 --> 00:31:24,800
Speaker 1: Who won't give up control over money? So the FED

644
00:31:24,920 --> 00:31:28,120
Speaker 1: doesn't want to give up control to the ECB, or

645
00:31:28,160 --> 00:31:30,520
Speaker 1: to the BOJ or the PBIO like which one.

646
00:31:30,920 --> 00:31:33,000
Speaker 2: Well, so I would I would break down the world.

647
00:31:33,240 --> 00:31:37,080
Speaker 2: And I love the different buckets that you put put

648
00:31:37,120 --> 00:31:40,960
Speaker 2: out there. I would just trying to go first principles, right. So,

649
00:31:41,640 --> 00:31:44,560
Speaker 2: the people who control the equity of the world, right,

650
00:31:44,640 --> 00:31:48,600
Speaker 2: the behemoths of equity, like, they're the ones that can

651
00:31:48,720 --> 00:31:50,040
Speaker 2: that can pretty much get what they.

652
00:31:49,960 --> 00:31:51,400
Speaker 1: Want, right, And so who are they?

653
00:31:51,920 --> 00:31:54,640
Speaker 2: Well, I mean it's it's the apples. It's like these

654
00:31:54,680 --> 00:31:59,120
Speaker 2: really large equity And then look right down who the

655
00:31:59,160 --> 00:32:01,680
Speaker 2: shareholders are. And when you look at this, and this

656
00:32:01,720 --> 00:32:03,320
Speaker 2: is an important piece too, when you look who the

657
00:32:03,360 --> 00:32:07,440
Speaker 2: shareholders are, so many of the shareholders are Blackrock or

658
00:32:07,600 --> 00:32:11,320
Speaker 2: these large institutions that have them in ETF buckets. And

659
00:32:11,400 --> 00:32:13,600
Speaker 2: so even though like an individual might have that in

660
00:32:13,640 --> 00:32:17,600
Speaker 2: their retirement account, are they actually able to control or

661
00:32:17,760 --> 00:32:21,520
Speaker 2: influence in The answer obviously is no, but Blackrock shut

662
00:32:21,640 --> 00:32:23,760
Speaker 2: can They might have a seat on the board of

663
00:32:23,800 --> 00:32:26,200
Speaker 2: whatever large piece of equity it is. And so when

664
00:32:26,280 --> 00:32:28,720
Speaker 2: you when you go up and you think about the

665
00:32:29,200 --> 00:32:32,520
Speaker 2: structure of who owns all the buying power and you

666
00:32:32,560 --> 00:32:34,920
Speaker 2: see how much power is put into some of these banks,

667
00:32:35,400 --> 00:32:39,320
Speaker 2: you can see why they are aggressively trying to control.

668
00:32:39,400 --> 00:32:42,320
Speaker 1: So then I'll ask you a question out of those

669
00:32:42,360 --> 00:32:45,000
Speaker 1: players I framed up who is Blackrock aligned with?

670
00:32:47,040 --> 00:32:51,360
Speaker 2: I think Blackrocks aligned with word for sure.

671
00:32:52,160 --> 00:32:54,280
Speaker 1: They're doing all the funding to rebuild the train, which

672
00:32:54,320 --> 00:32:55,320
Speaker 1: is part of the West.

673
00:32:55,120 --> 00:32:58,680
Speaker 2: Which all makes sense. Doesn't mean it's right, but from

674
00:32:58,680 --> 00:33:00,800
Speaker 2: like an incentive standpoint, you can see why that all

675
00:33:00,840 --> 00:33:01,320
Speaker 2: makes sense.

676
00:33:01,360 --> 00:33:04,560
Speaker 1: So to your point, yes, there's part of that euro

677
00:33:04,680 --> 00:33:08,160
Speaker 1: Davos globalist group is black Rock, They're part of that.

678
00:33:08,800 --> 00:33:11,560
Speaker 2: So the line gets blurred as to like who's actually

679
00:33:11,720 --> 00:33:12,720
Speaker 2: pulling the strings.

680
00:33:13,400 --> 00:33:15,160
Speaker 1: And yeah, so that's why we're just like you're looking

681
00:33:15,160 --> 00:33:17,160
Speaker 1: at a ligned inches because what happens in a game

682
00:33:17,200 --> 00:33:19,080
Speaker 1: of thrones is like, hey, me and you, let's fight

683
00:33:19,160 --> 00:33:21,360
Speaker 1: these guys for now, and when they're gone, now you

684
00:33:21,400 --> 00:33:22,520
Speaker 1: and I are going to figure it out.

685
00:33:23,280 --> 00:33:25,640
Speaker 2: But there's one other thing I want to cover on this.

686
00:33:25,880 --> 00:33:28,480
Speaker 2: On like a first principal standpoint is where this is

687
00:33:28,520 --> 00:33:32,600
Speaker 2: going is the people that control the equity of natural

688
00:33:32,640 --> 00:33:38,800
Speaker 2: resources and truly desirable necessities in society, goods and services.

689
00:33:38,880 --> 00:33:43,920
Speaker 2: There's a transition that's happening like in real time that

690
00:33:44,120 --> 00:33:46,640
Speaker 2: I would argue that people that just controlled the equity,

691
00:33:46,760 --> 00:33:51,920
Speaker 2: like the largest cap type equity before held all the power.

692
00:33:52,160 --> 00:33:56,120
Speaker 2: But where it's transitioning is people that control large amounts

693
00:33:56,120 --> 00:34:02,600
Speaker 2: of equity for very desirable products and services, equity of

694
00:34:02,720 --> 00:34:06,520
Speaker 2: those types of things. So you're oil companies like all that, right,

695
00:34:07,040 --> 00:34:09,600
Speaker 2: they're the ones that are that are that are really

696
00:34:09,640 --> 00:34:12,400
Speaker 2: going to be able to call the shots here during

697
00:34:12,440 --> 00:34:15,400
Speaker 2: the transition to this new monetary system right in the

698
00:34:15,440 --> 00:34:16,399
Speaker 2: coming tenures.

699
00:34:16,040 --> 00:34:17,279
Speaker 1: Which kind of goes into a little bit of like

700
00:34:17,360 --> 00:34:19,880
Speaker 1: zolto impose aristhesis of this kind of like you know

701
00:34:20,000 --> 00:34:22,680
Speaker 1: third third Revolution, right Brett third bretton woods where they're

702
00:34:22,719 --> 00:34:25,760
Speaker 1: going into commodities, and we're seeing that so like General Motors,

703
00:34:25,800 --> 00:34:28,400
Speaker 1: for example, spend six hundred fty million dollars on a

704
00:34:28,480 --> 00:34:31,200
Speaker 1: lithium mine. They'd rather have the lithium in the ground

705
00:34:31,320 --> 00:34:34,160
Speaker 1: than the dollars. But we're also seen on a global stage,

706
00:34:34,160 --> 00:34:35,759
Speaker 1: so I think that's maybe kind of what you're talking about.

707
00:34:36,440 --> 00:34:37,920
Speaker 1: But so if we if we look if we look

708
00:34:37,960 --> 00:34:39,960
Speaker 1: at it like that, then we would go, well, some

709
00:34:40,000 --> 00:34:41,880
Speaker 1: of these globalists, including the WEF, we could go to

710
00:34:41,960 --> 00:34:43,880
Speaker 1: their website at this very second, it's still up, they

711
00:34:43,880 --> 00:34:45,960
Speaker 1: haven't taken down and says by twenty thirty, the US

712
00:34:45,960 --> 00:34:48,479
Speaker 1: will no longer be the dominant superpower. Okay, so there's

713
00:34:48,719 --> 00:34:51,520
Speaker 1: in it's George Soros has been openly staying for two

714
00:34:51,560 --> 00:34:53,880
Speaker 1: decades that they want to bring down the United States.

715
00:34:54,080 --> 00:34:55,760
Speaker 1: So you have some of these things that are public.

716
00:34:55,840 --> 00:34:57,719
Speaker 1: You know, it's not conspiratory. It's on their website. We'd

717
00:34:57,719 --> 00:34:59,919
Speaker 1: go find it. And when we play this interview, let's

718
00:35:00,080 --> 00:35:00,840
Speaker 1: those up on the screen.

719
00:35:02,200 --> 00:35:04,760
Speaker 2: What's and what's so amazing is they have no idea

720
00:35:04,800 --> 00:35:06,840
Speaker 2: who's going to be in power in the United States

721
00:35:07,160 --> 00:35:09,680
Speaker 2: that let's just say we have, you know, a presidential

722
00:35:09,719 --> 00:35:12,000
Speaker 2: candidate that comes in. They're like pro bitcoin and they're

723
00:35:12,000 --> 00:35:14,799
Speaker 2: like they're there's putting it on the treasury in a

724
00:35:14,840 --> 00:35:16,640
Speaker 2: secret kind of way, and they're printing a bunch of

725
00:35:16,640 --> 00:35:18,520
Speaker 2: dollars in their stack in SATs and whatever.

726
00:35:18,640 --> 00:35:22,760
Speaker 1: Because what Rothchild said dred years ago, give me control

727
00:35:22,800 --> 00:35:25,040
Speaker 1: over the money, and I care not who makes the nationals.

728
00:35:25,360 --> 00:35:28,000
Speaker 2: So for them to even think they have a clue

729
00:35:28,440 --> 00:35:30,120
Speaker 2: as to who's going to figure this out, because it's

730
00:35:30,120 --> 00:35:33,719
Speaker 2: an education thing, right, It's an education thing. And that's

731
00:35:33,719 --> 00:35:36,319
Speaker 2: why I guess I'm so passionate about even being in

732
00:35:36,360 --> 00:35:38,879
Speaker 2: this space. It's like, if you can just get the

733
00:35:38,960 --> 00:35:43,160
Speaker 2: knowledge and the understanding and the curiosity in the head

734
00:35:43,280 --> 00:35:46,440
Speaker 2: of the right person who has the influence to affect

735
00:35:46,520 --> 00:35:49,319
Speaker 2: change in any country. Right, it doesn't matter what the

736
00:35:49,320 --> 00:35:53,080
Speaker 2: country is, Oh boy, watch out, yeah, because that country

737
00:35:53,120 --> 00:35:55,200
Speaker 2: And I would argue, there's there's a real small one

738
00:35:55,200 --> 00:35:57,520
Speaker 2: in the world right now that has that happen, right,

739
00:35:57,920 --> 00:36:00,160
Speaker 2: and I think they're going to have a tremendous this

740
00:36:00,280 --> 00:36:04,680
Speaker 2: amount of influence years from now because of that leadership.

741
00:36:04,719 --> 00:36:06,400
Speaker 1: And so to your point on that, so then you

742
00:36:06,440 --> 00:36:08,319
Speaker 1: have if we don't need to dig into that, but

743
00:36:08,360 --> 00:36:12,040
Speaker 1: if you have these couple of people, the ECB, the FED,

744
00:36:12,320 --> 00:36:14,840
Speaker 1: the BOJ whatever you want to pboc, the people that

745
00:36:14,960 --> 00:36:17,120
Speaker 1: have control and they can fight it out, But then

746
00:36:17,120 --> 00:36:18,800
Speaker 1: you have a whole group of people who have no control,

747
00:36:19,080 --> 00:36:21,759
Speaker 1: and so for them, they have nothing to lose. They're

748
00:36:21,800 --> 00:36:24,239
Speaker 1: stuck dealing with dollars or whatever currency that's dying. And

749
00:36:24,239 --> 00:36:25,640
Speaker 1: then you have to go to jump to dollars, so

750
00:36:25,640 --> 00:36:27,000
Speaker 1: they have nothing to lose, they can jump to that.

751
00:36:27,239 --> 00:36:29,200
Speaker 1: It's easy to see why the ECB or the FED

752
00:36:29,200 --> 00:36:31,040
Speaker 1: doesn't want to go to that because they'd rather keep

753
00:36:31,040 --> 00:36:33,319
Speaker 1: the system going that they have. And so that's where

754
00:36:33,320 --> 00:36:35,279
Speaker 1: the game theory comes into play well.

755
00:36:35,440 --> 00:36:37,560
Speaker 2: And I would say in the Global South, one of

756
00:36:37,560 --> 00:36:40,120
Speaker 2: the things I'm most excited about, Like, one of the

757
00:36:40,200 --> 00:36:44,839
Speaker 2: challenges you have is to progress, you have to you

758
00:36:44,880 --> 00:36:47,880
Speaker 2: have to start first principles. You need energy, Like you

759
00:36:48,040 --> 00:36:51,399
Speaker 2: need energy in each one of these if you were

760
00:36:51,520 --> 00:36:54,320
Speaker 2: thinking of it, like cells, right, the cells in your body,

761
00:36:54,360 --> 00:36:56,880
Speaker 2: every single cell in your body has mitochondria, which is

762
00:36:56,920 --> 00:37:00,400
Speaker 2: an energy power plant, has its own DNA. It is

763
00:37:00,440 --> 00:37:03,600
Speaker 2: different than your human DNA, right, it's its own organism.

764
00:37:04,680 --> 00:37:07,880
Speaker 2: When I think about bitcoin, it's basically a micro chondria

765
00:37:08,360 --> 00:37:11,680
Speaker 2: power plant that goes into these cellular regions and now

766
00:37:11,719 --> 00:37:17,080
Speaker 2: it immediately has somebody that's willing to buy the energy.

767
00:37:17,760 --> 00:37:22,959
Speaker 2: So in that cellular region, if it's energy rich, right,

768
00:37:23,480 --> 00:37:26,400
Speaker 2: and somebody can go in there that actually sees the

769
00:37:26,520 --> 00:37:31,440
Speaker 2: vision and can set up a power plant with mining

770
00:37:31,480 --> 00:37:34,000
Speaker 2: there to soak up all that energy that cheap like

771
00:37:34,400 --> 00:37:38,120
Speaker 2: ever flowing energy. Right Now, all of a sudden, you've

772
00:37:38,239 --> 00:37:42,040
Speaker 2: created this mitochondria in that cell that all these sorts

773
00:37:42,040 --> 00:37:46,480
Speaker 2: of complex activities can start manifesting themselves around that energy source.

774
00:37:47,000 --> 00:37:48,759
Speaker 2: And so when I think about the Global South, one

775
00:37:48,800 --> 00:37:51,200
Speaker 2: of the things I'm most excited about is it's not

776
00:37:51,239 --> 00:37:53,040
Speaker 2: that they're just going to get like sound money and

777
00:37:53,080 --> 00:37:55,520
Speaker 2: access to all the unbanked. It's that they're going to

778
00:37:55,600 --> 00:37:58,319
Speaker 2: have an incentive for people to step into areas that

779
00:37:58,360 --> 00:38:00,799
Speaker 2: are rich in energy, and they're going to be able

780
00:38:00,800 --> 00:38:04,880
Speaker 2: to set up these mining power plant combos, and then

781
00:38:04,560 --> 00:38:08,239
Speaker 2: it's going to turn into this flourishing of activity that

782
00:38:08,320 --> 00:38:09,800
Speaker 2: surrounds it that's competing.

783
00:38:09,440 --> 00:38:12,359
Speaker 1: For like Saudi Arabia did an oasis in the middle

784
00:38:12,360 --> 00:38:15,040
Speaker 1: of the desert, that's right, and they had oil, which

785
00:38:15,080 --> 00:38:17,720
Speaker 1: oil could be packaged up and transported out. You can't

786
00:38:17,719 --> 00:38:19,080
Speaker 1: do this with a lot of this energy in these

787
00:38:19,080 --> 00:38:20,920
Speaker 1: other countries, but they don't have to anymore. So now

788
00:38:20,920 --> 00:38:22,839
Speaker 1: they can just put a container there, start a link

789
00:38:22,880 --> 00:38:26,440
Speaker 1: it up, and tap right into it. So then you're

790
00:38:26,480 --> 00:38:29,080
Speaker 1: bullish on that. I'm bullish on that. That read that

791
00:38:29,200 --> 00:38:31,080
Speaker 1: kind of changes the world. And so then I guess

792
00:38:31,200 --> 00:38:33,880
Speaker 1: kind of drawing back to the original conversation. So while

793
00:38:33,960 --> 00:38:36,680
Speaker 1: the let's call it the G seven or maybe even

794
00:38:36,680 --> 00:38:38,359
Speaker 1: the G twenty, while they want to duke it out

795
00:38:38,719 --> 00:38:41,480
Speaker 1: over who's gonna win the Ultimate Game of Thrones, over

796
00:38:41,520 --> 00:38:43,320
Speaker 1: here you have sort of these players that are already

797
00:38:43,360 --> 00:38:44,719
Speaker 1: out of the game, that are going to go ahead

798
00:38:44,719 --> 00:38:47,120
Speaker 1: and just keep building tapping into this, and so while

799
00:38:47,120 --> 00:38:48,560
Speaker 1: they want to fight it out, we'll have this kind

800
00:38:48,600 --> 00:38:51,320
Speaker 1: of rising up exactly exactly.

801
00:38:51,400 --> 00:38:54,280
Speaker 2: Now, that doesn't mean that that in developed nation states

802
00:38:54,280 --> 00:38:57,000
Speaker 2: that you're not going to have growth. And because it

803
00:38:57,239 --> 00:39:00,440
Speaker 2: all comes down the weather, you have key influential leaders

804
00:39:00,440 --> 00:39:02,840
Speaker 2: that understand this, and if they do, they're going to

805
00:39:02,920 --> 00:39:08,280
Speaker 2: crush it. But but I would say, uh, they're gonna

806
00:39:08,280 --> 00:39:11,280
Speaker 2: have They're going to be blinded by their legacy bias

807
00:39:11,480 --> 00:39:14,360
Speaker 2: and it's going to be extremely different, difficult to overcome.

808
00:39:14,400 --> 00:39:16,760
Speaker 2: And when you look at the how most of this type,

809
00:39:17,000 --> 00:39:20,120
Speaker 2: you know, the developed nations, how that world revolves. It

810
00:39:20,200 --> 00:39:25,600
Speaker 2: revolves around very wealthy legacy people funding their incentives. And

811
00:39:25,640 --> 00:39:27,320
Speaker 2: that's it's it's.

812
00:39:27,160 --> 00:39:32,040
Speaker 1: Gonna be because it works incentives specifically on the greed incentive. Yes,

813
00:39:32,239 --> 00:39:34,480
Speaker 1: and so as corrupt as some of these people might be,

814
00:39:34,719 --> 00:39:37,000
Speaker 1: if it can feed that greed, I mean there's a

815
00:39:37,080 --> 00:39:39,680
Speaker 1: there's a good, good chance to do that. And and

816
00:39:39,719 --> 00:39:41,160
Speaker 1: then there's a lot of other ways. I met with

817
00:39:41,200 --> 00:39:44,120
Speaker 1: a guy here kind of under NDA, so I don't

818
00:39:44,120 --> 00:39:45,719
Speaker 1: want to kind of expose what he's doing. He's over

819
00:39:45,760 --> 00:39:48,480
Speaker 1: in Europe where they have energy problems, of course, and

820
00:39:48,520 --> 00:39:50,839
Speaker 1: he's figured out a way. We'll just say to take

821
00:39:51,239 --> 00:39:54,480
Speaker 1: devices in your house that use a lot of electricity

822
00:39:54,719 --> 00:39:58,080
Speaker 1: and in bed mining into that. Yeah, I don't know

823
00:39:58,080 --> 00:40:00,920
Speaker 1: if you talk to them here. Yeah, And and basically

824
00:40:01,320 --> 00:40:04,359
Speaker 1: he's his plan is selling it is to never even

825
00:40:04,440 --> 00:40:07,400
Speaker 1: mention bitcoin or mention bitcoin mining. And hey, here's this

826
00:40:07,480 --> 00:40:10,000
Speaker 1: electrical device. It costs as much as the next elector device,

827
00:40:10,040 --> 00:40:12,600
Speaker 1: but I'm going to rebate you twenty percent of whatever

828
00:40:12,640 --> 00:40:14,160
Speaker 1: your bill is. And he doesn't tell him what it is.

829
00:40:14,640 --> 00:40:16,560
Speaker 1: And like, that's a genius way to think about it.

830
00:40:18,280 --> 00:40:20,560
Speaker 1: Get into that greed. I don't know. And he said,

831
00:40:20,600 --> 00:40:23,000
Speaker 1: at some point I might say, hey, okay, there's bitcoin

832
00:40:23,040 --> 00:40:24,680
Speaker 1: in here, and here's a wallet for you. But he's like,

833
00:40:24,840 --> 00:40:25,920
Speaker 1: right now, I didn't want to talk.

834
00:40:25,760 --> 00:40:28,799
Speaker 2: About that, and he doesn't need to. Yeah, if people

835
00:40:28,840 --> 00:40:31,480
Speaker 2: are getting a discount by twenty percent, yeah, right.

836
00:40:31,680 --> 00:40:34,200
Speaker 1: And so back to these other countries, if it's like, hey,

837
00:40:34,239 --> 00:40:35,960
Speaker 1: there's a way that you can set up this power plant.

838
00:40:36,000 --> 00:40:37,840
Speaker 1: It can make you money and you don't have to

839
00:40:37,840 --> 00:40:39,359
Speaker 1: say bitcoin at first, you know.

840
00:40:39,880 --> 00:40:42,440
Speaker 2: It was probably one of the reasons I'm so bullish

841
00:40:42,480 --> 00:40:45,560
Speaker 2: on it is because every little nook and cran a.

842
00:40:45,680 --> 00:40:50,920
Speaker 2: You look, there's something that's like this reinforcing engine to bitcoin,

843
00:40:51,040 --> 00:40:53,719
Speaker 2: like the example you just shared, right, Yeah, where like

844
00:40:54,080 --> 00:40:56,960
Speaker 2: people that are creative enough to think through, like I

845
00:40:56,960 --> 00:40:59,360
Speaker 2: don't even need to tell somebody that there's bitcoin happening

846
00:40:59,440 --> 00:41:01,920
Speaker 2: over there. They're just getting twenty percent off their energy

847
00:41:01,920 --> 00:41:04,719
Speaker 2: built and I'm paying them the twenty or there. It's

848
00:41:04,760 --> 00:41:07,839
Speaker 2: all in terms that they understand, which is fee out money. Right.

849
00:41:08,239 --> 00:41:10,359
Speaker 2: The thing is over there doing that work, and he's

850
00:41:10,400 --> 00:41:13,520
Speaker 2: making out and they're making out, and there's this win

851
00:41:13,680 --> 00:41:18,239
Speaker 2: win like incentive that just keeps popping up everywhere you look,

852
00:41:18,360 --> 00:41:21,279
Speaker 2: in every single facet of this thing, and it's like,

853
00:41:22,239 --> 00:41:25,400
Speaker 2: you know, it's a trojan hydra. It's a trojan like

854
00:41:25,440 --> 00:41:28,319
Speaker 2: you cut off one head to grow back, and the

855
00:41:28,400 --> 00:41:31,680
Speaker 2: thing is just and it's been like that since I've

856
00:41:31,680 --> 00:41:33,840
Speaker 2: been in the space, and it just doesn't it seems

857
00:41:33,880 --> 00:41:36,799
Speaker 2: to be relentless. It seems to be relentless. And I

858
00:41:36,840 --> 00:41:39,200
Speaker 2: know I'm biased and I'm a bitcointer, but like.

859
00:41:39,520 --> 00:41:41,680
Speaker 1: But we have fteen years of history to show that. Yeah,

860
00:41:41,680 --> 00:41:45,000
Speaker 1: and that's a long time. Yeah, and I think and again,

861
00:41:45,080 --> 00:41:46,600
Speaker 1: I mean, just to reiter it, no, matter how much

862
00:41:46,640 --> 00:41:48,720
Speaker 1: they try to clamp down on it in one location,

863
00:41:49,040 --> 00:41:51,680
Speaker 1: there's other people that are going to want it, so

864
00:41:51,920 --> 00:41:52,440
Speaker 1: no doubt.

865
00:41:52,840 --> 00:41:55,799
Speaker 2: And that's the game theory that people that show up

866
00:41:55,840 --> 00:41:58,759
Speaker 2: with not a lot of experience or time like it's like, oh,

867
00:41:58,840 --> 00:42:00,719
Speaker 2: the government's going to ban that, and that's like the

868
00:42:00,800 --> 00:42:02,399
Speaker 2: end of their thesis and they're not going to dig

869
00:42:02,480 --> 00:42:05,200
Speaker 2: in because the thing has seventy percent volatility and only

870
00:42:05,280 --> 00:42:09,200
Speaker 2: these crazy crypto people are running around and.

871
00:42:09,040 --> 00:42:12,040
Speaker 1: They look like that's a very US centric viewpoint. Yeah,

872
00:42:12,040 --> 00:42:14,680
Speaker 1: because you forget that the rest of the privileged viewpoint.

873
00:42:14,760 --> 00:42:15,680
Speaker 1: Yeah exactly.

874
00:42:16,120 --> 00:42:18,520
Speaker 2: But people willing to do the work and dig in

875
00:42:18,680 --> 00:42:21,319
Speaker 2: real deep, like real deep, they're going to see it

876
00:42:21,360 --> 00:42:24,000
Speaker 2: and there it's going to be very difficult to unsee it.

877
00:42:24,120 --> 00:42:24,319
Speaker 1: Yah.

878
00:42:24,560 --> 00:42:24,759
Speaker 2: Yeah.

879
00:42:25,360 --> 00:42:27,200
Speaker 1: Yeah, well I think we can wrap it up there.

880
00:42:27,239 --> 00:42:29,360
Speaker 1: That's a good love it, little good little rip love it.

881
00:42:29,360 --> 00:42:29,960
Speaker 1: Appreciate it.

882
00:42:30,000 --> 00:42:32,359
Speaker 2: Thank you so much for having me Mark. I love

883
00:42:32,440 --> 00:42:34,239
Speaker 2: talking with you. Yeah, yeah, I love talking with you.