1 00:00:01,200 --> 00:00:05,439 Speaker 1: What's up, everybody. Welcome to another episode of Financial Heresy, 2 00:00:05,440 --> 00:00:08,039 Speaker 1: where we talk about how many works so that you 3 00:00:08,039 --> 00:00:12,240 Speaker 1: can make more, keep more, and give more. Today, I've 4 00:00:12,320 --> 00:00:16,599 Speaker 1: got a very special guest on, my good friend Mark Moss. 5 00:00:16,720 --> 00:00:19,119 Speaker 1: I'm sure you've seen his stuff everywhere. He's got a 6 00:00:19,120 --> 00:00:24,840 Speaker 1: great YouTube channel, podcast, constantly putting up educational content everywhere, 7 00:00:25,400 --> 00:00:28,640 Speaker 1: and very excited to have him on with us today. 8 00:00:28,640 --> 00:00:32,040 Speaker 1: We're gonna be talking about indicators, things that you watch 9 00:00:32,120 --> 00:00:36,000 Speaker 1: in the markets. He's accurately predicted and forecasted for the 10 00:00:36,040 --> 00:00:39,559 Speaker 1: last couple of years ahead of time, market tops and 11 00:00:39,640 --> 00:00:44,559 Speaker 1: market bottoms, looking at monetary policy and being a student 12 00:00:44,600 --> 00:00:47,760 Speaker 1: of history to be able to identify what is coming, 13 00:00:47,800 --> 00:00:51,520 Speaker 1: because history tends to have patterns that you can recognize. 14 00:00:52,000 --> 00:00:56,600 Speaker 1: We're talking about centralization and decentralization and deglobalization and bitcoin 15 00:00:56,720 --> 00:00:59,880 Speaker 1: and more. Very excited to have Mark Moss on with 16 00:01:00,080 --> 00:01:03,200 Speaker 1: us today. Well, thank you so much, Mark for joining 17 00:01:03,280 --> 00:01:06,320 Speaker 1: us today. Really excited to get into this, so thank 18 00:01:06,319 --> 00:01:10,280 Speaker 1: you for joining. Yeah, Joe, always excited to sit down 19 00:01:10,360 --> 00:01:14,080 Speaker 1: talk with you, so looking forward to it. Well, I 20 00:01:14,120 --> 00:01:16,399 Speaker 1: would like to go over a little bit of a 21 00:01:16,440 --> 00:01:19,759 Speaker 1: background here, because obviously over the last couple of years, Uh, 22 00:01:19,920 --> 00:01:23,880 Speaker 1: markets have been wild, the global economy has had some 23 00:01:24,280 --> 00:01:27,920 Speaker 1: unprecedented changes, and for a while, everybody just thought, you know, 24 00:01:28,000 --> 00:01:29,920 Speaker 1: number is going to keep on going up, that that 25 00:01:30,000 --> 00:01:34,480 Speaker 1: power never stopped printing. And you started calling for a 26 00:01:34,600 --> 00:01:37,160 Speaker 1: kind of a top to asset prices. You were saying, hey, 27 00:01:37,200 --> 00:01:39,520 Speaker 1: these are some signs things are going to start to 28 00:01:39,520 --> 00:01:43,400 Speaker 1: get ugly soon. And obviously nobody believed you. I think 29 00:01:43,400 --> 00:01:45,600 Speaker 1: nobody wanted to believe you because they were making they 30 00:01:45,640 --> 00:01:48,120 Speaker 1: thought they were getting rich. Um, what were some of 31 00:01:48,160 --> 00:01:51,000 Speaker 1: those things that you were looking at that allowed you 32 00:01:51,040 --> 00:01:54,800 Speaker 1: to accurately forecast kind of a top and asset prices? 33 00:01:56,080 --> 00:01:58,240 Speaker 1: You know, Joe, I think, Um, you and I a 34 00:01:58,320 --> 00:02:00,400 Speaker 1: lot of our content is similar in a sense where 35 00:02:00,400 --> 00:02:03,080 Speaker 1: we try to take these really complex issues and boil 36 00:02:03,160 --> 00:02:06,440 Speaker 1: them down to be very basic, right, And and I 37 00:02:06,560 --> 00:02:08,440 Speaker 1: like to do that because I think if you understand 38 00:02:08,480 --> 00:02:10,079 Speaker 1: it kind of at the first principle's level, then you 39 00:02:10,120 --> 00:02:12,400 Speaker 1: can you can formulate your own opinions and ideas off 40 00:02:12,440 --> 00:02:14,520 Speaker 1: of that, rather than just parroting what you're hearing. Right, 41 00:02:14,560 --> 00:02:18,040 Speaker 1: And so very simply, markets stopped going up when there's 42 00:02:18,040 --> 00:02:22,600 Speaker 1: no more buyers. Markets also stopped going down when there's 43 00:02:22,639 --> 00:02:25,320 Speaker 1: no more sellers right, very simply, so then you just 44 00:02:25,320 --> 00:02:27,720 Speaker 1: start to look at like, are there going to be 45 00:02:27,800 --> 00:02:30,520 Speaker 1: more buyers in the future or less? Right, what's gonna 46 00:02:30,520 --> 00:02:32,360 Speaker 1: happen with the buyers? What's gonna happen with the sellers? 47 00:02:32,400 --> 00:02:36,680 Speaker 1: And so I think, um, you know, it seems pretty 48 00:02:36,720 --> 00:02:40,160 Speaker 1: evident that the Federal Reserve has kind of gone You know, 49 00:02:40,200 --> 00:02:42,120 Speaker 1: in two thousand and eight, the FED went to this 50 00:02:42,919 --> 00:02:45,720 Speaker 1: really jumped into the economy right with quantitative easy and 51 00:02:45,760 --> 00:02:47,760 Speaker 1: things like that. But they did it from a very 52 00:02:47,800 --> 00:02:52,400 Speaker 1: reactionary role, meaning after the markets had crashed, then they 53 00:02:52,560 --> 00:02:54,400 Speaker 1: jumped in to start doing all these things. I mean, 54 00:02:54,440 --> 00:02:55,960 Speaker 1: they tried a little bit with the tarp or whatever, 55 00:02:56,040 --> 00:02:58,800 Speaker 1: but it's a little bit too too much, too too little, 56 00:02:58,800 --> 00:03:01,760 Speaker 1: too late. But I think what we've seen now is 57 00:03:01,800 --> 00:03:04,040 Speaker 1: the FED really has kind of gone more into a 58 00:03:04,639 --> 00:03:08,320 Speaker 1: um driver role where they're like literally trying to drive 59 00:03:08,400 --> 00:03:10,800 Speaker 1: the market, and so there are a lot more active 60 00:03:10,840 --> 00:03:14,520 Speaker 1: I mean to a decade ago, nobody even nobody even 61 00:03:14,600 --> 00:03:16,760 Speaker 1: talked about the FED, like nobody and it was like 62 00:03:16,880 --> 00:03:19,160 Speaker 1: Ron Paul, I think that really brought it to the forefront. 63 00:03:19,360 --> 00:03:21,799 Speaker 1: But today everybody is talking about the Fed, everybody. It's 64 00:03:21,840 --> 00:03:24,480 Speaker 1: on every single you know, CNBC, MBC, C, every every 65 00:03:24,600 --> 00:03:27,800 Speaker 1: you know, nightly news, everything, And so you see kind 66 00:03:27,800 --> 00:03:29,919 Speaker 1: of the role that they play. And what while a 67 00:03:29,960 --> 00:03:31,519 Speaker 1: lot of people I think are trying to figure out 68 00:03:31,600 --> 00:03:36,200 Speaker 1: what the Fed is gonna do, they tell us and 69 00:03:36,240 --> 00:03:38,680 Speaker 1: like there, I don't believe. I don't believe they're trying 70 00:03:38,720 --> 00:03:41,160 Speaker 1: to trick us. Like they're trying to tell us well 71 00:03:41,200 --> 00:03:43,960 Speaker 1: in advance what they're going to do, right, because they're 72 00:03:43,960 --> 00:03:46,920 Speaker 1: they're trying not to spook or not to startle the markets. 73 00:03:47,240 --> 00:03:49,920 Speaker 1: And so back to the question that you asked. In 74 00:03:50,000 --> 00:03:54,080 Speaker 1: November of two thousand one, Jerome Powell comes out and says, hey, 75 00:03:54,800 --> 00:03:57,360 Speaker 1: markets are way too hot. We got to cool them down. 76 00:03:57,720 --> 00:04:03,200 Speaker 1: We're gonna start tightening conditions. So, um, they didn't actually 77 00:04:03,280 --> 00:04:06,760 Speaker 1: start until I believe March of two, but it was 78 00:04:06,800 --> 00:04:09,120 Speaker 1: November of twenty one when he said he was going 79 00:04:09,240 --> 00:04:12,240 Speaker 1: to do it now. Right after he did that, um 80 00:04:12,320 --> 00:04:16,400 Speaker 1: bitcoin started selling off. First. Bitcoin kind of sniffs these 81 00:04:16,400 --> 00:04:19,240 Speaker 1: moves out before anything else. It's the most sensitive to 82 00:04:19,279 --> 00:04:21,640 Speaker 1: this kind of global aquity, so it starts selling off 83 00:04:21,640 --> 00:04:24,919 Speaker 1: almost instantly. Um Mas DAC started selling off about a 84 00:04:24,920 --> 00:04:27,640 Speaker 1: week or two later, but we didn't see the SMP 85 00:04:27,760 --> 00:04:31,320 Speaker 1: sell off until January, right, so you you kind of 86 00:04:31,320 --> 00:04:33,520 Speaker 1: start to see what happens with bitcoin like the most 87 00:04:33,640 --> 00:04:36,599 Speaker 1: risk asset. I don't want to say that, and we'll 88 00:04:36,600 --> 00:04:38,560 Speaker 1: talk about that maybe later, but it started kind of 89 00:04:38,600 --> 00:04:41,320 Speaker 1: sniffing out. It's more sensitive global equity. Obviously, the growth 90 00:04:41,320 --> 00:04:43,160 Speaker 1: stocks the text I'm sorry, not growth, but the tech 91 00:04:43,160 --> 00:04:45,560 Speaker 1: stocks started selling off, and so I think that's that's 92 00:04:45,560 --> 00:04:47,040 Speaker 1: what it was. It was like, Hey, he's telling us 93 00:04:47,040 --> 00:04:50,919 Speaker 1: what's gonna happen. We know where this is going. Um. 94 00:04:51,160 --> 00:04:53,839 Speaker 1: Markets are forward leaning, so a lot of people think 95 00:04:53,880 --> 00:04:55,839 Speaker 1: that the economy and the markets equal each other. But 96 00:04:55,880 --> 00:04:57,840 Speaker 1: the markets are trying to guess where the economy or 97 00:04:57,880 --> 00:05:01,040 Speaker 1: where things will be in the future. Right. So when 98 00:05:01,080 --> 00:05:03,800 Speaker 1: we all automatically started seeing that, hey they're going to 99 00:05:03,920 --> 00:05:06,120 Speaker 1: raise rates, they're going to take the punch bowl away 100 00:05:06,160 --> 00:05:09,520 Speaker 1: the liquidity, Um, this is going to reprice equities down, 101 00:05:09,560 --> 00:05:12,839 Speaker 1: et cetera, the market starts responding early. So anyway, UH, 102 00:05:13,040 --> 00:05:15,560 Speaker 1: to answer your your question with a very long answer, UM, 103 00:05:15,600 --> 00:05:17,280 Speaker 1: that's how I just watched what they say. I take 104 00:05:17,320 --> 00:05:19,440 Speaker 1: them at their word, and then we start to, you know, 105 00:05:19,480 --> 00:05:23,039 Speaker 1: make changes based off of that. It's funny that you 106 00:05:23,080 --> 00:05:25,200 Speaker 1: say that, because I remember back in November when they 107 00:05:25,240 --> 00:05:27,320 Speaker 1: started talking about this, and you can go back on 108 00:05:27,360 --> 00:05:29,200 Speaker 1: my YouTube channel look at videos. At that time, I 109 00:05:29,240 --> 00:05:31,480 Speaker 1: did not believe them. And so they were saying, hey, 110 00:05:31,480 --> 00:05:34,360 Speaker 1: we're gonna start tightening, and I was saying, no, they're not. 111 00:05:34,520 --> 00:05:36,680 Speaker 1: And I think at that time that was kind of 112 00:05:36,680 --> 00:05:40,679 Speaker 1: a majority position. Um that you know, people just didn't 113 00:05:40,680 --> 00:05:42,200 Speaker 1: believe that they were going to take the punch bowl 114 00:05:42,200 --> 00:05:45,440 Speaker 1: away because the economy couldn't handle it. Um. And when 115 00:05:45,520 --> 00:05:47,839 Speaker 1: they when they started to and then they kept on going, 116 00:05:48,040 --> 00:05:50,520 Speaker 1: it was that was one of my biggest you know, 117 00:05:50,680 --> 00:05:54,360 Speaker 1: mind change events that happened. Two. I was like, well, 118 00:05:54,400 --> 00:05:56,800 Speaker 1: I guess they're just gonna do what they what they 119 00:05:56,839 --> 00:05:59,279 Speaker 1: said they were gonna do. Um. And you go back 120 00:05:59,320 --> 00:06:01,480 Speaker 1: then you and you re look at everything and you're like, oh, 121 00:06:01,520 --> 00:06:03,240 Speaker 1: you know what actually they do when they say they're 122 00:06:03,240 --> 00:06:04,760 Speaker 1: going to do something. You might take a while, but 123 00:06:04,960 --> 00:06:08,880 Speaker 1: they actually try and try and do that. But but 124 00:06:09,200 --> 00:06:13,040 Speaker 1: with a caveat okay. So Jerome Powell also said that 125 00:06:13,080 --> 00:06:15,839 Speaker 1: we weren't thinking about thinking about raising rates. He said 126 00:06:15,880 --> 00:06:19,360 Speaker 1: that they wouldn't raise rates for four years, but then 127 00:06:19,360 --> 00:06:22,760 Speaker 1: he did, right, So, what what do you mean, Mark, 128 00:06:22,880 --> 00:06:25,160 Speaker 1: They said what they're gonna do, and they're not trickin us. 129 00:06:25,160 --> 00:06:26,480 Speaker 1: Then why did he say he was going to lower 130 00:06:26,560 --> 00:06:28,320 Speaker 1: rates and not raise them for four years, but then 131 00:06:28,360 --> 00:06:32,160 Speaker 1: he raised him after two? Well there's what And this 132 00:06:32,200 --> 00:06:34,599 Speaker 1: is kind of where we're at today, right I. And 133 00:06:34,680 --> 00:06:37,120 Speaker 1: so now Jerome pal says we're probably not done hiking 134 00:06:37,200 --> 00:06:39,440 Speaker 1: yet there's more pain, pain, pain. He keeps going back 135 00:06:39,480 --> 00:06:41,919 Speaker 1: to more pain. Ahead he says that now they're going 136 00:06:42,000 --> 00:06:44,880 Speaker 1: to raise rates and leave them there for a long time. 137 00:06:45,760 --> 00:06:48,640 Speaker 1: So I believe he's serious. I believe he believes what 138 00:06:48,680 --> 00:06:51,159 Speaker 1: he's saying. I believe he means what he's saying. But 139 00:06:51,200 --> 00:06:54,200 Speaker 1: then there's outside forces that will cause him or force 140 00:06:54,279 --> 00:06:57,520 Speaker 1: him to pivot and change his position. So when he 141 00:06:57,560 --> 00:06:59,800 Speaker 1: said we're not going to raise rates for four years, 142 00:06:59,800 --> 00:07:02,400 Speaker 1: I've believe he was serious and I believe he meant it. 143 00:07:02,440 --> 00:07:06,839 Speaker 1: But when inflation raged so hot, he had no choice, right. 144 00:07:07,160 --> 00:07:09,840 Speaker 1: And so I think now what's happening is we're seeing 145 00:07:09,840 --> 00:07:12,920 Speaker 1: the markets are calling the Feds bluff, right. The markets 146 00:07:12,920 --> 00:07:16,200 Speaker 1: are like yeah, okay, Like we don't believe that you're 147 00:07:16,200 --> 00:07:18,320 Speaker 1: going to continue to cause pain pain pain. We don't 148 00:07:18,360 --> 00:07:20,840 Speaker 1: believe that, and so the markets have stayed high. And 149 00:07:20,880 --> 00:07:22,960 Speaker 1: I think the reason why isn't because they don't believe 150 00:07:23,080 --> 00:07:25,600 Speaker 1: Jerome Power. We believe Jerome Power. We believe that he 151 00:07:25,680 --> 00:07:28,160 Speaker 1: believed what he's saying and means it. But we know 152 00:07:28,240 --> 00:07:31,040 Speaker 1: that there's constraints that he's going to run against that's 153 00:07:31,080 --> 00:07:34,480 Speaker 1: going to force him to change his mind. Yeah, that 154 00:07:34,520 --> 00:07:36,040 Speaker 1: makes a lot of sense. So is that is that 155 00:07:36,080 --> 00:07:37,800 Speaker 1: those are the things that you're looking at right now 156 00:07:37,840 --> 00:07:40,040 Speaker 1: that have kind of flipped the narrative because within the 157 00:07:40,080 --> 00:07:43,800 Speaker 1: last I think six weeks, you started noticing things and saying, hey, 158 00:07:43,840 --> 00:07:46,720 Speaker 1: like you know, at least in some asset classes, it 159 00:07:46,720 --> 00:07:49,880 Speaker 1: looks like the bottom might be in. Yeah. I started, 160 00:07:50,040 --> 00:07:52,960 Speaker 1: I started pivoting about November of last year off of 161 00:07:53,040 --> 00:07:56,000 Speaker 1: kind of stance. And the reason why is because they 162 00:07:56,040 --> 00:07:59,240 Speaker 1: had raised rates so fast and so high, and we 163 00:07:59,280 --> 00:08:02,520 Speaker 1: really started seeing kind of inflation. Numbers already started coming down, 164 00:08:02,960 --> 00:08:04,720 Speaker 1: and I think a lot of people and you saw 165 00:08:04,720 --> 00:08:07,440 Speaker 1: it in the markets. The market started going up positively 166 00:08:07,680 --> 00:08:09,680 Speaker 1: after his meetings and he's like, wait, well, wait, wait 167 00:08:09,680 --> 00:08:11,600 Speaker 1: a minute. You didn't hear what I said. But I 168 00:08:11,600 --> 00:08:13,920 Speaker 1: think we knew because he raised it so fast it 169 00:08:14,080 --> 00:08:17,040 Speaker 1: was making room to um come down off of those 170 00:08:17,120 --> 00:08:19,920 Speaker 1: those those rates, those rate hikes. UM. So I already 171 00:08:20,000 --> 00:08:22,600 Speaker 1: kind of started to change my mind. Now, Uh, for 172 00:08:22,640 --> 00:08:26,560 Speaker 1: everybody listening, uh you know, well, but for everybody listening one, 173 00:08:26,680 --> 00:08:30,880 Speaker 1: there's no such thing as certainties. So everything is possible, 174 00:08:30,920 --> 00:08:35,320 Speaker 1: but there's only so many things that are probable. Um. 175 00:08:35,400 --> 00:08:37,040 Speaker 1: And so what we want to do is is we 176 00:08:37,080 --> 00:08:39,360 Speaker 1: don't know, and so we try to make the best 177 00:08:39,480 --> 00:08:43,000 Speaker 1: guests our base case, and we assigned presenterve. This is 178 00:08:43,000 --> 00:08:47,240 Speaker 1: what I do, assigned percentages of probability that I think 179 00:08:47,240 --> 00:08:50,679 Speaker 1: would be outcomes, and so um. In about November of 180 00:08:50,760 --> 00:08:53,160 Speaker 1: last year, I started to think, shoot, I think the 181 00:08:53,240 --> 00:08:57,120 Speaker 1: FED might pull off this like proverbial soft landing, which 182 00:08:57,320 --> 00:08:59,120 Speaker 1: was not the base case at that time, and I 183 00:08:59,160 --> 00:09:02,760 Speaker 1: made a video about it and I said something like UM. 184 00:09:02,800 --> 00:09:04,959 Speaker 1: I started out by saying, are you you know, asking 185 00:09:05,000 --> 00:09:08,480 Speaker 1: to the audience, are you a hundred percent certain the 186 00:09:08,520 --> 00:09:10,320 Speaker 1: markets are going to crash? Because you got the Harry 187 00:09:10,400 --> 00:09:14,360 Speaker 1: Dan's and the Peter Shifts and the David Hunterstond's gonna crash? Right? 188 00:09:14,760 --> 00:09:16,800 Speaker 1: Are you a hundred percent certain the markets are gonna 189 00:09:17,640 --> 00:09:21,040 Speaker 1: Of course you're not, so are you ent? Okay? So 190 00:09:21,120 --> 00:09:24,080 Speaker 1: if you're certain, that means there's a ten percent chance 191 00:09:24,320 --> 00:09:28,240 Speaker 1: they won't. So what so how do you play that? 192 00:09:28,360 --> 00:09:29,800 Speaker 1: And so I went to this video. Man, I had 193 00:09:29,840 --> 00:09:31,800 Speaker 1: all these people tell me, like in the comments, tell 194 00:09:31,800 --> 00:09:35,080 Speaker 1: me they're gonna unsubscribe from my channel. How dare I 195 00:09:35,160 --> 00:09:37,160 Speaker 1: make a video talking about the markets are not going 196 00:09:37,200 --> 00:09:40,559 Speaker 1: to crash? I mean I couldn't believe that. I was like, wow, Um, 197 00:09:40,600 --> 00:09:42,480 Speaker 1: so that's kind of where I started pivoting in November. 198 00:09:42,559 --> 00:09:45,800 Speaker 1: Now here we are and uh, a couple of things 199 00:09:45,800 --> 00:09:47,679 Speaker 1: have happened. I made a couple of videos last year, 200 00:09:47,720 --> 00:09:50,600 Speaker 1: started I think in August of last year. Um, and 201 00:09:50,640 --> 00:09:53,440 Speaker 1: I talked about how the treasury was gonna go broke 202 00:09:55,200 --> 00:09:58,280 Speaker 1: and uh. I went to speak at Nomad Capitalists in 203 00:09:58,320 --> 00:10:00,800 Speaker 1: September in Mexico City. George Gammon is also there, and 204 00:10:00,840 --> 00:10:02,800 Speaker 1: I kind of broke this whole thing down for him 205 00:10:02,800 --> 00:10:04,720 Speaker 1: and he was kind of didn't really believe me. But 206 00:10:04,960 --> 00:10:07,560 Speaker 1: here we are. We've seen it. And so basically as 207 00:10:07,600 --> 00:10:11,199 Speaker 1: the Fed has started increasing their rates, well that page 208 00:10:11,280 --> 00:10:13,480 Speaker 1: that that increases the amount of interest they have to 209 00:10:13,520 --> 00:10:18,080 Speaker 1: pay out m but they're also receiving less income at 210 00:10:18,120 --> 00:10:21,840 Speaker 1: the same time, and so each time they raise rates, 211 00:10:22,040 --> 00:10:25,360 Speaker 1: it hurts them. It hurts them. And the problem is 212 00:10:25,360 --> 00:10:27,559 Speaker 1: is that the FED is supposed to pay all that 213 00:10:27,640 --> 00:10:31,560 Speaker 1: interest over to the Treasury. So I believe in two 214 00:10:31,559 --> 00:10:34,559 Speaker 1: thousand twenty one they paid for it's been won of 215 00:10:34,640 --> 00:10:37,760 Speaker 1: the video, but it was about three hundred billion dollars 216 00:10:37,800 --> 00:10:41,240 Speaker 1: they paid to two fifty eight billion, I think um. 217 00:10:41,280 --> 00:10:43,680 Speaker 1: And last year they lost, They had they had a loss. 218 00:10:43,720 --> 00:10:45,280 Speaker 1: They had no money to pay out of the treasury. 219 00:10:45,440 --> 00:10:47,720 Speaker 1: So it's like a five hundred billion dollar swing or 220 00:10:47,720 --> 00:10:50,160 Speaker 1: whatever it is. And so the Treasury lost that income, right, 221 00:10:50,320 --> 00:10:52,680 Speaker 1: and the Treasury is getting hammered. We have tax receipts 222 00:10:52,720 --> 00:10:56,960 Speaker 1: plumbting right, tax receipts are plumbering. No money coming from 223 00:10:57,000 --> 00:10:59,520 Speaker 1: the Fed. They want to forgive student loans, the largest 224 00:10:59,520 --> 00:11:01,600 Speaker 1: asset the that the that the that the Fed has 225 00:11:02,040 --> 00:11:04,000 Speaker 1: um and they want to keep increasing the dead ceiling 226 00:11:04,080 --> 00:11:07,040 Speaker 1: and spend more money. So now we are stuck in 227 00:11:07,120 --> 00:11:09,440 Speaker 1: this situation where we have like the Fed and the 228 00:11:09,440 --> 00:11:12,120 Speaker 1: Treasury are fighting each other. What Janet Yellen wants at 229 00:11:12,120 --> 00:11:14,760 Speaker 1: the Treasury is opposite of what drone pile. The FED 230 00:11:14,840 --> 00:11:18,600 Speaker 1: once and so like on its own we started looking 231 00:11:18,640 --> 00:11:20,360 Speaker 1: at like, what are the constraints that the Fed's going 232 00:11:20,400 --> 00:11:23,040 Speaker 1: to run into, and this is a big one. And 233 00:11:23,080 --> 00:11:26,320 Speaker 1: so we saw, starting again back to October of last year, 234 00:11:26,679 --> 00:11:30,400 Speaker 1: the Treasury and Janet Yellen started acting independently and she 235 00:11:30,480 --> 00:11:32,839 Speaker 1: started doing things to prop up the treasury. Now they're 236 00:11:32,840 --> 00:11:36,040 Speaker 1: talking about swapping treasuries and things like that, and that's 237 00:11:36,080 --> 00:11:39,000 Speaker 1: when you know, the dollar started to drop, the Dixie 238 00:11:39,040 --> 00:11:43,959 Speaker 1: started going down. And now, uh, it looks like the 239 00:11:44,040 --> 00:11:46,520 Speaker 1: government is in full scale attack against the FED. When 240 00:11:46,559 --> 00:11:48,440 Speaker 1: I say the government, I'm talking about the Treasury, but 241 00:11:48,559 --> 00:11:52,480 Speaker 1: also the BLS. So the Bureau of Labor Statistics in 242 00:11:52,600 --> 00:11:58,400 Speaker 1: January went and changed the CPI calculation. Now we could argue, 243 00:11:58,520 --> 00:12:01,280 Speaker 1: are they doing this altogether? Um, And maybe that's a 244 00:12:01,320 --> 00:12:04,320 Speaker 1: conversation to get into. I think we have different factions 245 00:12:04,320 --> 00:12:06,280 Speaker 1: within the government, and I think the FED is working 246 00:12:06,280 --> 00:12:09,280 Speaker 1: opposite of what the government wants. So if you want 247 00:12:09,280 --> 00:12:11,160 Speaker 1: to talk, we can talk about that. But back to 248 00:12:11,200 --> 00:12:13,439 Speaker 1: this point for a second. And so the Treasury is 249 00:12:13,480 --> 00:12:16,480 Speaker 1: working against the Fed's interest. Now the BLS is working 250 00:12:16,520 --> 00:12:19,280 Speaker 1: against the FED. So if the BLS, which they did, 251 00:12:19,280 --> 00:12:21,400 Speaker 1: they changed the CPI calculation instead of a two year 252 00:12:21,440 --> 00:12:25,240 Speaker 1: compix a one year comp If nothing changes with cp I, 253 00:12:25,880 --> 00:12:29,079 Speaker 1: it can instantly bring it down two to three because 254 00:12:29,120 --> 00:12:32,160 Speaker 1: you're measuring off of the previous year. Right, So when 255 00:12:32,200 --> 00:12:35,800 Speaker 1: we measure off of September is nine point one CPI print, 256 00:12:36,200 --> 00:12:38,840 Speaker 1: Where's where's your your inflation going to be in September? 257 00:12:38,880 --> 00:12:40,720 Speaker 1: It's gonna be a freaking negative. Dude. We're gonna be 258 00:12:40,720 --> 00:12:44,720 Speaker 1: in deflation. And the Fed does not want deflation to happen. 259 00:12:46,000 --> 00:12:48,439 Speaker 1: So it's almost like it's going to force the Fed 260 00:12:48,800 --> 00:12:51,440 Speaker 1: to come off of their stance that they're on. And 261 00:12:51,480 --> 00:12:53,839 Speaker 1: then sure enough, we saw Tim Rose, you know, leaking 262 00:12:53,840 --> 00:12:56,120 Speaker 1: to the WS in Wall Street Journal that we're gonna 263 00:12:56,120 --> 00:12:58,960 Speaker 1: see a twenty five basis point rank rate in increase 264 00:12:58,960 --> 00:13:01,959 Speaker 1: in January, which we did, and so it's like the pause, dude, 265 00:13:02,000 --> 00:13:09,079 Speaker 1: the pause is here, you know. So with uh, with 266 00:13:09,480 --> 00:13:13,600 Speaker 1: that in mind, so that brings up to yeah, so yeah, 267 00:13:13,600 --> 00:13:15,439 Speaker 1: they're so a couple of things that pop into my 268 00:13:15,480 --> 00:13:18,360 Speaker 1: mind when you're talking about that, Like number one, Uh, 269 00:13:18,480 --> 00:13:21,760 Speaker 1: the Fed historically, for you know, up until maybe you know, 270 00:13:21,800 --> 00:13:25,559 Speaker 1: a year ago, they always look measured inflation in whatever 271 00:13:25,600 --> 00:13:30,079 Speaker 1: way benefited them the most, and usually that meant like Hey, 272 00:13:30,120 --> 00:13:33,080 Speaker 1: this is inflation when everybody else is experiencing higher inflation. 273 00:13:33,440 --> 00:13:35,600 Speaker 1: Now they're doing the opposite, like they've been focusing on 274 00:13:36,160 --> 00:13:40,200 Speaker 1: UH core PC which is showing a higher number than 275 00:13:40,760 --> 00:13:43,440 Speaker 1: than the c p I. UM. So to your point, 276 00:13:43,480 --> 00:13:45,400 Speaker 1: it's like it looks like the Fed right now is 277 00:13:45,440 --> 00:13:48,640 Speaker 1: trying to cherry pick the data they're looking at, looking 278 00:13:48,679 --> 00:13:52,600 Speaker 1: at very specific jobs numbers. They're looking at lagging economic 279 00:13:52,640 --> 00:13:58,160 Speaker 1: information that they know is inaccurate for today. Um. That 280 00:13:58,280 --> 00:14:03,120 Speaker 1: would justify them contin hinuing to to tighten and fight 281 00:14:03,200 --> 00:14:06,680 Speaker 1: inflation when there's a plethora of data out there that 282 00:14:06,720 --> 00:14:10,800 Speaker 1: would give them, if they wanted to uh, the green 283 00:14:10,920 --> 00:14:14,559 Speaker 1: light to kind of just business as usual and and 284 00:14:14,720 --> 00:14:19,840 Speaker 1: reduce their their tightening efforts. Yeah, you're you're absolutely right. Um. 285 00:14:19,880 --> 00:14:22,520 Speaker 1: I think they have all the political cover they need 286 00:14:22,560 --> 00:14:25,320 Speaker 1: to come off of their their hawkt stance and go 287 00:14:25,400 --> 00:14:28,560 Speaker 1: into a into a pivot, and not a pivot, but 288 00:14:28,560 --> 00:14:31,320 Speaker 1: I would call it a pause, like let's just hold here. Um. 289 00:14:31,360 --> 00:14:33,080 Speaker 1: So I think they have all that and and to 290 00:14:33,160 --> 00:14:35,280 Speaker 1: the point, I agree, right there looking at the wrong data. 291 00:14:35,560 --> 00:14:38,080 Speaker 1: The data they're looking at is obviously flawed. And dude, 292 00:14:38,080 --> 00:14:39,360 Speaker 1: me and you are just a bunch of guys on 293 00:14:39,400 --> 00:14:41,640 Speaker 1: YouTube like we got this, Like, dude, look at the 294 00:14:41,680 --> 00:14:45,400 Speaker 1: economic or the unemployment data, like it's wrong, it's all wrong, 295 00:14:45,440 --> 00:14:51,880 Speaker 1: and like everybody knows it, and yeah, something you know, 296 00:14:51,920 --> 00:14:53,560 Speaker 1: I talked to a lot of other people who are 297 00:14:53,800 --> 00:14:56,200 Speaker 1: maybe smarter than me, and they think that, you know, 298 00:14:56,320 --> 00:14:57,720 Speaker 1: just the guys that the FED just are not that 299 00:14:57,800 --> 00:15:00,320 Speaker 1: smart and they're just missing this. U me, it just 300 00:15:00,360 --> 00:15:02,040 Speaker 1: seems so obvious. I don't know how they are, So 301 00:15:02,120 --> 00:15:05,600 Speaker 1: it seems like maybe there's a multior motive there, um. 302 00:15:05,640 --> 00:15:07,600 Speaker 1: But to your point, yeah, they're looking at lagging data, 303 00:15:07,640 --> 00:15:10,680 Speaker 1: which CPI a data is lagging indicator, lagging indicator as well. 304 00:15:10,680 --> 00:15:13,840 Speaker 1: It's even probably more lagging than the pc UM. So 305 00:15:13,840 --> 00:15:16,000 Speaker 1: they're looking at wrong data. Uneployment data is wrong. They 306 00:15:16,040 --> 00:15:18,040 Speaker 1: have the political cover they needs, So then I guess 307 00:15:18,040 --> 00:15:20,400 Speaker 1: the question maybe you're oposing to me is why would 308 00:15:20,440 --> 00:15:23,440 Speaker 1: they continue to go down this road if they don't 309 00:15:23,440 --> 00:15:26,560 Speaker 1: need to anymore? And to me, this goes back to 310 00:15:26,640 --> 00:15:30,360 Speaker 1: these warring factions and so you know, as a bitcoiner, 311 00:15:30,440 --> 00:15:32,960 Speaker 1: I've been asked a million times, maybe not a million, 312 00:15:32,960 --> 00:15:36,440 Speaker 1: probably a hundred thousand times um that the governments will 313 00:15:36,480 --> 00:15:39,960 Speaker 1: never allow a competing form of money like bitcoin to succeed, 314 00:15:40,200 --> 00:15:42,120 Speaker 1: like the governments are gonna shut it down. And that's 315 00:15:42,160 --> 00:15:44,040 Speaker 1: what people do always say. First of all, you don't 316 00:15:44,080 --> 00:15:46,760 Speaker 1: understand about money if you're saying the governments won't allow 317 00:15:46,760 --> 00:15:48,280 Speaker 1: that to happen, because it's really the bankers right at 318 00:15:48,280 --> 00:15:51,560 Speaker 1: central banks anyway. Uh. On that note, I would agree, right, 319 00:15:51,920 --> 00:15:54,000 Speaker 1: nobody wants to give up control of the money. Kissinger 320 00:15:54,080 --> 00:15:56,600 Speaker 1: told us, control the money control the world. So, um, 321 00:15:56,640 --> 00:15:59,880 Speaker 1: if the governments won't allow which which governments are you 322 00:16:00,000 --> 00:16:03,720 Speaker 1: talking about? So if the governments don't want bitcoin to succeed, 323 00:16:03,760 --> 00:16:08,120 Speaker 1: do you think the Jamie Diamond New York FED wants 324 00:16:08,160 --> 00:16:13,760 Speaker 1: to seed control to the German led ECB. Yeah, I 325 00:16:13,800 --> 00:16:17,280 Speaker 1: don't think so, right, Um, So, like what about do 326 00:16:17,320 --> 00:16:18,520 Speaker 1: they want to give up to the I m F 327 00:16:18,560 --> 00:16:20,800 Speaker 1: that wants to push like an SDR E E s 328 00:16:20,840 --> 00:16:22,720 Speaker 1: d R. Well, they probably don't want to see the 329 00:16:23,320 --> 00:16:25,040 Speaker 1: Fed doesn't want to give up control of the money. 330 00:16:25,240 --> 00:16:27,120 Speaker 1: It's like nobody wants to give control of the money. Right. 331 00:16:27,520 --> 00:16:29,680 Speaker 1: And so it appears to me, and this gets in 332 00:16:29,720 --> 00:16:32,040 Speaker 1: the little the political side of things, but it appears 333 00:16:32,040 --> 00:16:34,200 Speaker 1: to me that what we're witnessing in the world today. 334 00:16:34,200 --> 00:16:35,600 Speaker 1: And I know you want to kind of move into 335 00:16:35,640 --> 00:16:37,680 Speaker 1: these kind of three cycles, but what we're what we're 336 00:16:37,680 --> 00:16:40,080 Speaker 1: witnessing today is to me as a war of globalism, 337 00:16:40,400 --> 00:16:43,520 Speaker 1: war of globalization. So this whole thing with Russia Ukraine 338 00:16:43,600 --> 00:16:45,800 Speaker 1: is really about this globalist agenda that they're trying to 339 00:16:45,840 --> 00:16:48,480 Speaker 1: push worldwide, which of course starts with the the B 340 00:16:48,680 --> 00:16:51,000 Speaker 1: I S and the UM, the I m F and 341 00:16:51,040 --> 00:16:53,200 Speaker 1: the w e F and the w h O and 342 00:16:53,280 --> 00:16:58,440 Speaker 1: the U N, et cetera. And the ECB Davos Group 343 00:16:59,000 --> 00:17:01,320 Speaker 1: is in bed. They're in bed together. So you got 344 00:17:01,320 --> 00:17:04,240 Speaker 1: the the euro ECB Davos Group, and I believe the 345 00:17:04,280 --> 00:17:09,199 Speaker 1: Obama Biden administration is also part of that. And we 346 00:17:09,240 --> 00:17:11,200 Speaker 1: can go into why. But if you look at when 347 00:17:11,200 --> 00:17:13,400 Speaker 1: Obama was president before, you know, you put us into 348 00:17:13,400 --> 00:17:16,120 Speaker 1: the Paris Accord and had us bow down and give 349 00:17:16,160 --> 00:17:19,640 Speaker 1: up our sovereignty to the U, N, et cetera. Trump 350 00:17:19,880 --> 00:17:22,480 Speaker 1: reversed that right, immediately pulls out of Paris Accord, you know, 351 00:17:22,560 --> 00:17:25,080 Speaker 1: kind of pulled back our sovereignty, which that speech when 352 00:17:25,080 --> 00:17:26,760 Speaker 1: he said the US is sovereign was what put a 353 00:17:28,520 --> 00:17:30,600 Speaker 1: target on his back and had they take him down. 354 00:17:31,000 --> 00:17:33,840 Speaker 1: But then when Obama and Biden came back into power again. 355 00:17:34,240 --> 00:17:36,159 Speaker 1: What was the thing done on very first day, the 356 00:17:36,240 --> 00:17:38,200 Speaker 1: first day in office, was to put us right back 357 00:17:38,200 --> 00:17:40,439 Speaker 1: into the Paris Accord, to put us right back in. 358 00:17:40,560 --> 00:17:43,159 Speaker 1: So I think the Obama Biden administration is going along 359 00:17:43,200 --> 00:17:47,320 Speaker 1: with the euro Davos ECB group and that globalist group 360 00:17:47,640 --> 00:17:50,560 Speaker 1: wants to, you know, fight this green transition. They want, 361 00:17:50,960 --> 00:17:53,080 Speaker 1: they want to spend one hundred and fifty trillion dollars 362 00:17:53,080 --> 00:17:55,240 Speaker 1: on this green transition, thirty trillion year over the next 363 00:17:55,280 --> 00:17:59,119 Speaker 1: thirty years I'm sorry, six tillion over the next thirty years. Um. 364 00:17:59,160 --> 00:18:03,040 Speaker 1: But the FED goes, wait a minute, like, no, we're 365 00:18:03,080 --> 00:18:05,280 Speaker 1: not doing that. As a matter of fact, Jerome Pale 366 00:18:05,320 --> 00:18:08,240 Speaker 1: and Christine Leguard had a meeting in June of two 367 00:18:08,280 --> 00:18:11,760 Speaker 1: thousand twenty one, and Jerome Powell said, hang on, hang on, 368 00:18:11,800 --> 00:18:13,720 Speaker 1: we have a dual mandate and one is not a 369 00:18:13,800 --> 00:18:17,000 Speaker 1: green transition. Like we're not doing this, Like you're on 370 00:18:17,040 --> 00:18:19,600 Speaker 1: your own. And the very next day started raising rates 371 00:18:20,280 --> 00:18:22,560 Speaker 1: and started draining liquidity out of Europe. And so I 372 00:18:22,600 --> 00:18:26,160 Speaker 1: think the FED, if if if this is true, if 373 00:18:26,200 --> 00:18:28,159 Speaker 1: they don't want to seed power of the dollar, if 374 00:18:28,160 --> 00:18:30,439 Speaker 1: they want to control the dollar, then they need to 375 00:18:30,480 --> 00:18:32,800 Speaker 1: make it strong, and they don't want to print a 376 00:18:32,840 --> 00:18:35,000 Speaker 1: hundred and fifty trillion to do this green transition because 377 00:18:35,000 --> 00:18:37,440 Speaker 1: I would weaken the dollar. And so I think that 378 00:18:37,560 --> 00:18:40,639 Speaker 1: Obama Biden administration wants to be part of that globalist 379 00:18:40,640 --> 00:18:43,000 Speaker 1: push and the FED doesn't. And so I think there's 380 00:18:43,080 --> 00:18:45,880 Speaker 1: multiple warring factions. So that would be my reason why 381 00:18:46,440 --> 00:18:48,639 Speaker 1: the Fed, even though they have the political cover they 382 00:18:48,640 --> 00:18:51,879 Speaker 1: need right now, economic data that they need, etcetera, to 383 00:18:52,080 --> 00:18:54,880 Speaker 1: do some sort of a pause or a pivot, maybe 384 00:18:54,920 --> 00:18:58,080 Speaker 1: they don't want to. That makes a lot of sense. 385 00:18:58,400 --> 00:19:03,119 Speaker 1: And it seems like we you're a student of history 386 00:19:03,680 --> 00:19:07,119 Speaker 1: and we've seen it's when you when you get to 387 00:19:07,760 --> 00:19:10,560 Speaker 1: peaks like this, it seems like the snake starts to 388 00:19:10,560 --> 00:19:13,960 Speaker 1: eat itself by the tail. A monster so large has 389 00:19:14,000 --> 00:19:17,840 Speaker 1: been built that it starts to destroy itself collapse underneath 390 00:19:17,840 --> 00:19:20,520 Speaker 1: its own weight, which seems like it's happening right now. 391 00:19:21,280 --> 00:19:26,439 Speaker 1: And you specifically have talked about the your three cycle theory, 392 00:19:26,480 --> 00:19:29,720 Speaker 1: which is, uh, you know, there there are you know, 393 00:19:29,800 --> 00:19:31,960 Speaker 1: many people out there who have talked about different types 394 00:19:32,000 --> 00:19:36,040 Speaker 1: of cycles, but there are three that are converging right now. 395 00:19:36,080 --> 00:19:39,360 Speaker 1: We've got the political, the financial and the technology. Um. 396 00:19:39,440 --> 00:19:43,160 Speaker 1: So for anybody who wants you know in detail. Obviously 397 00:19:43,160 --> 00:19:45,240 Speaker 1: you've talked about this in a lot of detail on 398 00:19:45,240 --> 00:19:49,600 Speaker 1: your YouTube channel, your podcast and elsewhere. UM. But so briefly, 399 00:19:49,680 --> 00:19:54,399 Speaker 1: what are those cycles and how are they converging right now? Yeah, 400 00:19:54,440 --> 00:19:57,240 Speaker 1: I think it's uh, the three you said, political, financial, 401 00:19:57,240 --> 00:19:59,600 Speaker 1: and technological. So the first thing is they kind of 402 00:19:59,640 --> 00:20:03,840 Speaker 1: move on to front cycles. So, um, we've seen uh 403 00:20:04,359 --> 00:20:07,679 Speaker 1: from a political standpoint, and this is we and they 404 00:20:07,720 --> 00:20:09,639 Speaker 1: all work together, so you can't really break them apart. 405 00:20:09,680 --> 00:20:12,480 Speaker 1: But about every two and or fifty years, the pendulum 406 00:20:12,520 --> 00:20:17,639 Speaker 1: swings from centralization to decentralization, um. And so five year 407 00:20:17,640 --> 00:20:19,640 Speaker 1: would be around trip. But so two or fifty years 408 00:20:19,680 --> 00:20:22,920 Speaker 1: ago was the was the American Revolution, um, the French 409 00:20:22,960 --> 00:20:27,040 Speaker 1: Revolution right, rejecting the centralization of the monarchy in the 410 00:20:27,080 --> 00:20:30,080 Speaker 1: United States, setting up a decentralized government, right, which is 411 00:20:30,119 --> 00:20:33,359 Speaker 1: the republic. Um. Two and five years before that was 412 00:20:33,400 --> 00:20:36,480 Speaker 1: the Protestant Reformation, again rejecting the centralization of the church 413 00:20:36,480 --> 00:20:40,520 Speaker 1: and state. And the reason why is because just like 414 00:20:40,520 --> 00:20:44,120 Speaker 1: a pendulum, right, human nature takes things too far and 415 00:20:44,160 --> 00:20:45,880 Speaker 1: then it rejects it and it goes back the other 416 00:20:45,880 --> 00:20:48,000 Speaker 1: way and then it goes too far again. UM, so 417 00:20:48,040 --> 00:20:49,919 Speaker 1: I think that's the first thing to understand. So right 418 00:20:49,960 --> 00:20:53,600 Speaker 1: now we're at peak centralization. The pendulum is MAXI now 419 00:20:53,920 --> 00:20:56,080 Speaker 1: and again, as we said, right I M F H 420 00:20:56,560 --> 00:20:59,960 Speaker 1: w EF and B I S and w H O, etcetera. 421 00:21:00,119 --> 00:21:02,520 Speaker 1: And so we're a peak centralization. But the world's rejecting 422 00:21:02,560 --> 00:21:04,920 Speaker 1: that all over the world. And this is not about 423 00:21:04,920 --> 00:21:09,040 Speaker 1: the pandemic. The pandemic is accelerated, but December there was 424 00:21:09,160 --> 00:21:12,720 Speaker 1: ten countries with over one million people each in the 425 00:21:12,760 --> 00:21:16,880 Speaker 1: streets protesting. Its previous to the pandemic. But the more 426 00:21:16,960 --> 00:21:19,600 Speaker 1: that the government squeezes to try to hang on, the 427 00:21:19,640 --> 00:21:21,280 Speaker 1: more people are going to push back. And the more 428 00:21:21,320 --> 00:21:23,440 Speaker 1: people push back, the more they squeeze, the more they squeeze, 429 00:21:23,440 --> 00:21:25,080 Speaker 1: more people push back. So so we're kind of in 430 00:21:25,080 --> 00:21:29,960 Speaker 1: that cycle. So that's happening. But what's interesting is then, Um, 431 00:21:30,000 --> 00:21:32,000 Speaker 1: if you look back through the long lens of history 432 00:21:32,000 --> 00:21:34,120 Speaker 1: and I'm talking thousands of years of history, you see 433 00:21:34,119 --> 00:21:38,120 Speaker 1: it's always technology that changes the way that we, uh, 434 00:21:38,160 --> 00:21:42,360 Speaker 1: we organize and we work, et cetera. So, uh, it's 435 00:21:42,400 --> 00:21:44,040 Speaker 1: just a couple of quick data points. And I know 436 00:21:44,080 --> 00:21:46,399 Speaker 1: this is very topical for people listening, but to go 437 00:21:46,440 --> 00:21:49,760 Speaker 1: to your own research um very topical. But there was 438 00:21:49,800 --> 00:21:52,320 Speaker 1: a new piece of technology that was invented around a 439 00:21:52,400 --> 00:21:56,080 Speaker 1: thousand a d. And it was called a stirrup. Now 440 00:21:56,320 --> 00:21:58,960 Speaker 1: some historians would say it was actually invented before, but 441 00:21:59,040 --> 00:22:01,000 Speaker 1: the first time that we really noticed it being used 442 00:22:01,000 --> 00:22:02,800 Speaker 1: was around thousand a D. And what it did is 443 00:22:02,840 --> 00:22:05,480 Speaker 1: it allowed a night to get on a horse with 444 00:22:05,840 --> 00:22:09,080 Speaker 1: full gear and fight from the horse. Now, horses have 445 00:22:09,160 --> 00:22:12,080 Speaker 1: been used in battle for for forever um. The Egyptians 446 00:22:12,119 --> 00:22:15,200 Speaker 1: would use them with chariots, but they would use them 447 00:22:15,280 --> 00:22:17,800 Speaker 1: as as as transportation, but they would get off the 448 00:22:17,880 --> 00:22:21,040 Speaker 1: horses to fight. But then new piece of technology, as 449 00:22:21,040 --> 00:22:22,960 Speaker 1: simple it was at the time, allowed them to fight. Now, 450 00:22:23,119 --> 00:22:26,600 Speaker 1: what happened with that, because remember technology changed that we organized, 451 00:22:27,080 --> 00:22:30,000 Speaker 1: is that allowed the feudal system, the centralization of the 452 00:22:30,000 --> 00:22:32,760 Speaker 1: feudal system to grow because now one king with a 453 00:22:32,760 --> 00:22:36,280 Speaker 1: couple of knights could take on hundreds of peasants and surfs, 454 00:22:36,840 --> 00:22:40,560 Speaker 1: so it became very centralizing. Well, years later, remember the 455 00:22:40,600 --> 00:22:45,240 Speaker 1: pendulum five later had the gunpowder revolution, and so now 456 00:22:45,359 --> 00:22:47,760 Speaker 1: one surf with a gun could take out hundreds of knights, 457 00:22:47,840 --> 00:22:51,280 Speaker 1: and that moved back to decentralization, and so then we 458 00:22:51,320 --> 00:22:54,960 Speaker 1: spread out over the cottage and the farm industry until 459 00:22:55,320 --> 00:22:59,960 Speaker 1: two or fifty years later was the Industrial Revolution, which 460 00:23:00,000 --> 00:23:03,360 Speaker 1: then started bringing everybody back into cities and factories, very 461 00:23:03,359 --> 00:23:07,480 Speaker 1: centralizing again. So you can see how those things. It 462 00:23:07,640 --> 00:23:10,320 Speaker 1: just changes the way that we organize. And so UM 463 00:23:11,200 --> 00:23:12,760 Speaker 1: on a tun or five year time frame, that's where 464 00:23:12,760 --> 00:23:15,600 Speaker 1: we're at. On an approximately fifty year time frame, we 465 00:23:15,640 --> 00:23:18,760 Speaker 1: have these technological revolutions. It's really it's about a sixty 466 00:23:18,840 --> 00:23:21,000 Speaker 1: year but I call it a fifty year It measures 467 00:23:21,000 --> 00:23:23,560 Speaker 1: a little bit easier. Um, it's on about fifty year. 468 00:23:23,720 --> 00:23:27,440 Speaker 1: It's called a K wave. But it's a technological revolution, 469 00:23:27,520 --> 00:23:29,720 Speaker 1: which is different than a technology because it changes the 470 00:23:29,720 --> 00:23:31,879 Speaker 1: course of humanity and it drives financial markets. And so 471 00:23:31,920 --> 00:23:34,720 Speaker 1: there's been five I believe we're witnessing the sixth right now. 472 00:23:35,240 --> 00:23:37,720 Speaker 1: And the five were the Industrial Revolution, which I just 473 00:23:37,720 --> 00:23:41,359 Speaker 1: talked about. Uh, a machine could do the work of 474 00:23:41,400 --> 00:23:46,480 Speaker 1: five thousand men, insane, right? Uh, now, what are those 475 00:23:46,480 --> 00:23:49,360 Speaker 1: five thousand men gonna do? Oh? It turns out they 476 00:23:49,400 --> 00:23:52,440 Speaker 1: work on like science and like technology. Like who would 477 00:23:52,440 --> 00:23:55,479 Speaker 1: have whould have thought? Right? Medicine? Um, I say that 478 00:23:55,520 --> 00:23:57,320 Speaker 1: because now we have AI is going to get rid 479 00:23:57,359 --> 00:23:59,240 Speaker 1: of all these jobs, supposedly, right, every new piece of 480 00:23:59,240 --> 00:24:03,679 Speaker 1: technology gets of jobs. Um. Then we had uh steam 481 00:24:03,680 --> 00:24:05,480 Speaker 1: engines and the railways, so now we could move stuff 482 00:24:05,480 --> 00:24:07,919 Speaker 1: across continents. We didn't have horsepower mampire. Then we had 483 00:24:07,920 --> 00:24:11,200 Speaker 1: steel and electricity. Then we had oil automobiles, and we 484 00:24:11,240 --> 00:24:15,480 Speaker 1: had a telecommunity microprocessor, which about telecommunications, Internet, etcetera. And 485 00:24:15,520 --> 00:24:18,000 Speaker 1: so we're witnessing another one right now. And again it's 486 00:24:18,000 --> 00:24:20,240 Speaker 1: technology that changes the way that we organize. And so 487 00:24:20,600 --> 00:24:23,399 Speaker 1: the Internet had kind of already started that. Where we started, 488 00:24:23,520 --> 00:24:25,440 Speaker 1: we used to have these really big cities, are really 489 00:24:25,440 --> 00:24:29,120 Speaker 1: big factories. But now you're an entrepreneur working from your house. 490 00:24:29,119 --> 00:24:31,359 Speaker 1: I'm an entrepreneur, Like we have all these like little businesses, 491 00:24:31,359 --> 00:24:33,800 Speaker 1: and so we've started Now we have all these uh 492 00:24:33,920 --> 00:24:36,399 Speaker 1: digital nomads. You're probably starting to see there's a lot 493 00:24:36,400 --> 00:24:39,119 Speaker 1: of pushback globally about all these people moving to Mexico 494 00:24:39,200 --> 00:24:41,600 Speaker 1: City or wherever. Driving prices up. So people are starting 495 00:24:41,600 --> 00:24:45,480 Speaker 1: to decentralize all over and I believe bitcoin, the decentralized technology, 496 00:24:45,480 --> 00:24:47,600 Speaker 1: will only kind of further that. And then at the 497 00:24:47,640 --> 00:24:50,240 Speaker 1: same time, on an eighty year time frame, rate Dally 498 00:24:50,320 --> 00:24:52,199 Speaker 1: has done a really good job talking about this. But 499 00:24:52,280 --> 00:24:54,680 Speaker 1: these long term debt cycles, these credit cycles that last 500 00:24:54,680 --> 00:24:58,720 Speaker 1: about eighty years, and so about eighty years ago was 501 00:24:58,760 --> 00:25:02,040 Speaker 1: the Bretton Woods agreement. Uh. And now we're going into 502 00:25:02,119 --> 00:25:04,480 Speaker 1: some new monetary system that we're not quite sure what 503 00:25:04,560 --> 00:25:07,520 Speaker 1: that is. Zoltan Posar has been calling a Breton Woods 504 00:25:07,600 --> 00:25:12,920 Speaker 1: three um being too was kind of unspoken. But what 505 00:25:12,960 --> 00:25:14,919 Speaker 1: we do know is the world is going into a 506 00:25:14,920 --> 00:25:16,919 Speaker 1: new monetary system. Will it be bricks, will it be 507 00:25:16,920 --> 00:25:20,439 Speaker 1: a goalback system, the digital uan, Will the dollar remains supreme? Like, 508 00:25:20,480 --> 00:25:22,520 Speaker 1: we don't know, but we can see that something is happening. 509 00:25:22,560 --> 00:25:24,680 Speaker 1: So all three of those things are converging right now, 510 00:25:25,080 --> 00:25:27,440 Speaker 1: which I think tells us one why the world is 511 00:25:27,480 --> 00:25:29,680 Speaker 1: so crazy, obviously, but to I think it really tells 512 00:25:29,720 --> 00:25:32,600 Speaker 1: us where things are going. And so in my opinion, 513 00:25:32,960 --> 00:25:34,960 Speaker 1: based off of history and based off of what we 514 00:25:35,000 --> 00:25:37,760 Speaker 1: can see as evidence right now today, we've we're going 515 00:25:37,800 --> 00:25:41,960 Speaker 1: from this peak centralized world, this unipolar world right with 516 00:25:42,000 --> 00:25:44,200 Speaker 1: a dollar homogene in the United States kind of as 517 00:25:44,240 --> 00:25:47,480 Speaker 1: the as the as the main government, um. And we're 518 00:25:47,520 --> 00:25:50,119 Speaker 1: moving to a multipolar world. Like we can just see that, 519 00:25:50,320 --> 00:25:52,920 Speaker 1: like Russia and China they're out and like that ain't 520 00:25:52,920 --> 00:25:55,640 Speaker 1: coming back, and and what they're doing with the bricks nations, 521 00:25:55,680 --> 00:25:57,600 Speaker 1: like we're probably gonna break into at least four or 522 00:25:57,640 --> 00:26:01,480 Speaker 1: five different factions across the globe. That's happening. We're gonna 523 00:26:01,520 --> 00:26:04,200 Speaker 1: have competing money. We already do the digital wands being 524 00:26:04,320 --> 00:26:07,640 Speaker 1: used by Saudi Arabia and Iran and oil and now 525 00:26:07,680 --> 00:26:10,080 Speaker 1: it's fully convertible to gold. So we we see all 526 00:26:10,119 --> 00:26:12,240 Speaker 1: this happening. So so that's the direction we're going to 527 00:26:12,320 --> 00:26:16,399 Speaker 1: continue trending to UM and so I think we have 528 00:26:16,480 --> 00:26:21,080 Speaker 1: to plan for that financially. Okay, each one of those 529 00:26:21,160 --> 00:26:23,399 Speaker 1: you know, we could probably talk for hours about diving 530 00:26:23,400 --> 00:26:27,160 Speaker 1: into each one of those cycles. Um. I going back 531 00:26:27,200 --> 00:26:30,000 Speaker 1: to something that you were talking about at the beginning 532 00:26:30,040 --> 00:26:34,520 Speaker 1: of this conversation that I didn't call attention to because 533 00:26:34,560 --> 00:26:37,280 Speaker 1: we were we we were moving on in the conversation. 534 00:26:37,640 --> 00:26:40,440 Speaker 1: You were talking about how you watch the FED. Basically 535 00:26:40,600 --> 00:26:43,040 Speaker 1: you watch what they're doing to the money, and that 536 00:26:43,119 --> 00:26:46,240 Speaker 1: gives you signals about what's going to happen in markets, 537 00:26:47,480 --> 00:26:53,160 Speaker 1: looking at the technology, the technological cycle, and seeing that 538 00:26:53,760 --> 00:26:57,560 Speaker 1: throughout history, anytime a brand new technology is made that 539 00:26:57,600 --> 00:27:02,359 Speaker 1: allows basically greater of leverage. So for for the human input, 540 00:27:02,680 --> 00:27:06,600 Speaker 1: you get a much greater output. UM. One of the 541 00:27:07,520 --> 00:27:09,439 Speaker 1: in my opinion, I'm sure you share his opinion, one 542 00:27:09,480 --> 00:27:15,679 Speaker 1: of the greatest UH technological achievements in you know, maybe 543 00:27:15,680 --> 00:27:20,200 Speaker 1: ever we'll see, UM is is bitcoin. But that's a 544 00:27:20,240 --> 00:27:26,679 Speaker 1: monetary technology. And so if we can look at money 545 00:27:26,800 --> 00:27:29,000 Speaker 1: right now and who controls the money, and see what 546 00:27:29,119 --> 00:27:33,760 Speaker 1: that does to the economy, UM, looking at a new technology, 547 00:27:33,760 --> 00:27:36,600 Speaker 1: you know, seeing what you know, oil and automobiles did 548 00:27:36,600 --> 00:27:38,440 Speaker 1: to the economy, and then seeing what steam engine did 549 00:27:38,440 --> 00:27:41,840 Speaker 1: to the economy, steam what stirrups did. Seeing what the 550 00:27:41,880 --> 00:27:46,920 Speaker 1: impact that bitcoin will have should people decide to adopt 551 00:27:47,000 --> 00:27:52,680 Speaker 1: it could be exponentially larger as far as it's impact 552 00:27:52,680 --> 00:27:57,879 Speaker 1: than any of these other technologies. Well, I certainly agree 553 00:27:57,880 --> 00:28:00,119 Speaker 1: with that to some extent, but I also may we 554 00:28:00,160 --> 00:28:02,639 Speaker 1: disagree with it a little bit. And so what do 555 00:28:02,680 --> 00:28:07,399 Speaker 1: I mean by that? UM, I agree with what you 556 00:28:07,480 --> 00:28:10,200 Speaker 1: said about because it touches the money, fix the money, 557 00:28:10,280 --> 00:28:12,000 Speaker 1: fix the world, it could have a bigger impact than 558 00:28:12,040 --> 00:28:14,080 Speaker 1: any other technology. So I agree with that aspect, but 559 00:28:14,119 --> 00:28:16,560 Speaker 1: I disagree a little bit with the framing. And the 560 00:28:16,560 --> 00:28:21,760 Speaker 1: framing was that it's a monetary technology. Mm hmm. So 561 00:28:21,800 --> 00:28:25,720 Speaker 1: what happens is whenever we have a new technological revolution 562 00:28:26,040 --> 00:28:28,280 Speaker 1: or any new technology. Humans were no good at imagining 563 00:28:28,359 --> 00:28:30,400 Speaker 1: the future, so all we can do is imagine better 564 00:28:30,520 --> 00:28:32,119 Speaker 1: versions of what we have today. And so when we 565 00:28:32,200 --> 00:28:34,439 Speaker 1: have something brand new, we're not sure what it is 566 00:28:34,520 --> 00:28:36,080 Speaker 1: or what we can do with it, so we try 567 00:28:36,119 --> 00:28:39,640 Speaker 1: to make sense of it. So when electricity first came out, 568 00:28:39,760 --> 00:28:42,280 Speaker 1: it was one of the five technological revolutions. When electricity 569 00:28:42,280 --> 00:28:45,560 Speaker 1: first came out, there was a first killer application of 570 00:28:45,600 --> 00:28:50,000 Speaker 1: that technology. And what was the first killer application of electricity? 571 00:28:50,600 --> 00:28:53,160 Speaker 1: It was a light bulb. It was a light bulb, 572 00:28:53,360 --> 00:28:56,080 Speaker 1: and so if we were around back that at time, 573 00:28:56,120 --> 00:28:58,720 Speaker 1: we're like, what is this electricity thing? Well, it's sort 574 00:28:58,760 --> 00:29:01,640 Speaker 1: of like a digital candle. What the hell do I 575 00:29:01,680 --> 00:29:05,680 Speaker 1: need that for? Candles have been light for five thousand years. Well, 576 00:29:05,800 --> 00:29:09,880 Speaker 1: it was a digital candle at the time, but it 577 00:29:10,000 --> 00:29:12,480 Speaker 1: but that's not what it was, right, And so today 578 00:29:12,560 --> 00:29:14,840 Speaker 1: we're using electricity to power this so I can even 579 00:29:14,880 --> 00:29:17,240 Speaker 1: talk to you right now, right, So it was a 580 00:29:17,280 --> 00:29:20,280 Speaker 1: digital cant that first color application. So a lot of 581 00:29:20,280 --> 00:29:22,400 Speaker 1: bitcoiners may not like this, but I think it's a 582 00:29:22,400 --> 00:29:25,360 Speaker 1: little bit too early to say exactly what bitcoin will 583 00:29:25,400 --> 00:29:29,680 Speaker 1: become in the future. Jason Laurie had this amazing interview 584 00:29:29,680 --> 00:29:33,320 Speaker 1: with Preston Pitsch and at the end Preston asked him, 585 00:29:33,680 --> 00:29:36,800 Speaker 1: if you could talk to any senior leader in politics, whatever, 586 00:29:36,840 --> 00:29:38,560 Speaker 1: what would you say to him? And he would say 587 00:29:38,640 --> 00:29:40,520 Speaker 1: He said that, I don't know if you've if you 588 00:29:40,600 --> 00:29:43,520 Speaker 1: heard that podcast, but basically, basically Jason Laurie says that 589 00:29:43,560 --> 00:29:47,440 Speaker 1: like bitcoin is like this like new form of you know, 590 00:29:47,520 --> 00:29:50,120 Speaker 1: security new it's it's a decentralized network and we're not 591 00:29:50,160 --> 00:29:52,120 Speaker 1: sure what to do with it. But he was saying 592 00:29:52,400 --> 00:29:55,120 Speaker 1: what I would tell them is just because it has 593 00:29:55,160 --> 00:29:58,880 Speaker 1: the word coin in the name, doesn't mean it should 594 00:29:58,880 --> 00:30:02,760 Speaker 1: be regulated as a financial said no more than Amazon's 595 00:30:02,880 --> 00:30:09,160 Speaker 1: cloud should be regulated by meteorologists. Mm hmm. Wow. I 596 00:30:09,280 --> 00:30:12,640 Speaker 1: was like, mm hmmm. So let's let's break this down. 597 00:30:12,960 --> 00:30:15,680 Speaker 1: So new technologies give us new building blocks. If I 598 00:30:15,720 --> 00:30:17,520 Speaker 1: handed you a deck of cards, I say, hey, build 599 00:30:17,560 --> 00:30:19,160 Speaker 1: me something with this. I mean you can make me 600 00:30:19,480 --> 00:30:21,920 Speaker 1: a TP right like a set of building blocks, and 601 00:30:21,960 --> 00:30:23,480 Speaker 1: you can make a TP right or like a house 602 00:30:23,480 --> 00:30:25,680 Speaker 1: of cards. If I gave you legos, you could build 603 00:30:25,680 --> 00:30:28,000 Speaker 1: me something way different. Way more intricate. You have a 604 00:30:28,000 --> 00:30:32,080 Speaker 1: different set of building blocks. Right. So, before steel being 605 00:30:32,080 --> 00:30:34,400 Speaker 1: one of the technological revolutions, Before steel, we could build 606 00:30:34,400 --> 00:30:37,640 Speaker 1: two or three stories out of bricks. That was it. Um, 607 00:30:37,680 --> 00:30:41,760 Speaker 1: steel gave us a stronger, harder base metal. Well, what 608 00:30:41,760 --> 00:30:44,320 Speaker 1: do we do with it? I don't know. Let's find out. Well, 609 00:30:44,680 --> 00:30:48,640 Speaker 1: hundreds of years later, we're building space shuttles. We didn't 610 00:30:48,640 --> 00:30:50,479 Speaker 1: know we'd build space shuttles. When steel first came out. 611 00:30:50,480 --> 00:30:52,800 Speaker 1: We we we knew we could build taller buildings, we knew 612 00:30:52,800 --> 00:30:55,120 Speaker 1: we could build bigger bridges. We didn't know we'd build 613 00:30:55,120 --> 00:30:58,000 Speaker 1: the Golden Gate bridge, right, And so I think that 614 00:30:58,080 --> 00:31:02,200 Speaker 1: bitcoin could part aventually be Well, first of all, what 615 00:31:02,400 --> 00:31:07,040 Speaker 1: is what is money? Right? Money communicates value, all these things, 616 00:31:07,040 --> 00:31:10,560 Speaker 1: and so I think the way that we consider money 617 00:31:10,840 --> 00:31:13,440 Speaker 1: and value will change. And so what do I mean 618 00:31:13,440 --> 00:31:15,880 Speaker 1: by that? So, Um, if you would have asked somebody 619 00:31:15,880 --> 00:31:20,240 Speaker 1: in the nineteen eighties what information is, They'll be like, well, 620 00:31:20,280 --> 00:31:22,400 Speaker 1: I mean I get the morning newspaper and I watched 621 00:31:22,440 --> 00:31:25,880 Speaker 1: the nightly news, right maybe right, Like what is information? Well? 622 00:31:25,880 --> 00:31:28,920 Speaker 1: I got books. I get information in books, and you know, 623 00:31:28,960 --> 00:31:31,440 Speaker 1: I watched the morning newspaper and night the news. But 624 00:31:31,520 --> 00:31:34,040 Speaker 1: today we have a kid on the beach and BALI 625 00:31:34,160 --> 00:31:36,360 Speaker 1: post a picture on Instagram and I see what the 626 00:31:36,360 --> 00:31:38,000 Speaker 1: oceans like. I can see what the waves are like, 627 00:31:38,040 --> 00:31:39,760 Speaker 1: I see what the weather's like. There's like all this 628 00:31:39,960 --> 00:31:43,480 Speaker 1: information that wasn't there before. And so I think maybe 629 00:31:43,480 --> 00:31:46,600 Speaker 1: the way we think about value could potentially even change. 630 00:31:46,600 --> 00:31:49,760 Speaker 1: And again, I mean we just don't know. But um 631 00:31:49,920 --> 00:31:56,040 Speaker 1: Bitcoin is a value transfer protocol. So money is a 632 00:31:56,080 --> 00:31:58,880 Speaker 1: store of value, right, and so it transfers that value, 633 00:31:58,880 --> 00:32:01,880 Speaker 1: but can it also trans for other things? It's also 634 00:32:02,040 --> 00:32:07,480 Speaker 1: censorship resistant, it's also immutable, it's also permissionless. So big 635 00:32:07,520 --> 00:32:10,600 Speaker 1: news this week was those ordinals that are now on 636 00:32:10,640 --> 00:32:15,680 Speaker 1: bitcoin um so now basically um through the segment upgrade 637 00:32:15,680 --> 00:32:17,120 Speaker 1: that happened a couple of years ago and this new 638 00:32:17,160 --> 00:32:20,240 Speaker 1: tap root upgrade, um it gave a larger block size 639 00:32:20,280 --> 00:32:22,880 Speaker 1: to put other things in their other types of code. 640 00:32:23,200 --> 00:32:25,040 Speaker 1: And now people figured out that they can basically put 641 00:32:25,120 --> 00:32:28,400 Speaker 1: JPEGs on the Bitcoin blockchain like U n f T 642 00:32:28,560 --> 00:32:33,280 Speaker 1: s so now Bitcoin is also for n f T S. 643 00:32:34,440 --> 00:32:36,560 Speaker 1: Now will that work? Will it? Not? Like we'll see 644 00:32:36,600 --> 00:32:38,640 Speaker 1: where that shakes out, but like what else? Right? Because 645 00:32:38,640 --> 00:32:42,960 Speaker 1: it's a decentralized permission list, border lists, censorship resistant platform. 646 00:32:43,000 --> 00:32:45,960 Speaker 1: What else could we use a building block like that for? 647 00:32:46,760 --> 00:32:48,480 Speaker 1: So think about it like that, What else can we 648 00:32:48,560 --> 00:32:50,400 Speaker 1: use steal for? What else can we use electricity for? 649 00:32:50,440 --> 00:32:54,960 Speaker 1: What else can we use a decentralized protocol for? Well, um, 650 00:32:54,960 --> 00:32:57,959 Speaker 1: Pierre Richard was saying, well, you know there's a big 651 00:32:58,000 --> 00:33:01,520 Speaker 1: battle between three D printed guns right now, right right, 652 00:33:01,960 --> 00:33:04,640 Speaker 1: and you could basically take the code of a three 653 00:33:04,720 --> 00:33:07,640 Speaker 1: D printed gun and stick it in the bitcoin blockchain. 654 00:33:07,680 --> 00:33:12,080 Speaker 1: Now and now somebody is information. It's just information. And 655 00:33:12,080 --> 00:33:15,680 Speaker 1: now somebody in North Korea or whatever could download that 656 00:33:15,720 --> 00:33:18,920 Speaker 1: file in print and print a gun. M hmm. It's 657 00:33:18,920 --> 00:33:21,719 Speaker 1: just information. It's is that value? I mean, how much 658 00:33:21,720 --> 00:33:24,160 Speaker 1: are those plans worth? Like? Is that a value? Transfers 659 00:33:24,200 --> 00:33:27,719 Speaker 1: it information? Like? Right? But it's censorship resistant? Like what 660 00:33:27,840 --> 00:33:30,880 Speaker 1: else could we use that building block? Four? Well, Jack 661 00:33:30,920 --> 00:33:35,200 Speaker 1: Dorsey launched what he calls Web five, and Web five 662 00:33:35,320 --> 00:33:39,000 Speaker 1: is basically d d I d S decentralized identifiers d 663 00:33:39,120 --> 00:33:41,200 Speaker 1: I d S And so what that means is, I 664 00:33:41,200 --> 00:33:42,600 Speaker 1: don't know how much you've done this, but just real 665 00:33:42,680 --> 00:33:45,520 Speaker 1: quickly you can ask questions. But Zion, which is a 666 00:33:45,560 --> 00:33:49,840 Speaker 1: company that I'm invested in UM We're just releasing tomorrow, 667 00:33:50,120 --> 00:33:51,960 Speaker 1: so uh, it will be out by the time that 668 00:33:52,000 --> 00:33:56,040 Speaker 1: people hear this um Zion two point oh, which is 669 00:33:56,120 --> 00:33:59,720 Speaker 1: built off of these Jack Dorsey's d I D s. 670 00:34:00,200 --> 00:34:02,080 Speaker 1: And so what that What that means is that I 671 00:34:02,240 --> 00:34:04,600 Speaker 1: have my own identify er, I own my I D 672 00:34:04,840 --> 00:34:07,800 Speaker 1: and everything is attributed to that. So for example, if 673 00:34:07,800 --> 00:34:10,440 Speaker 1: I have to change my mailing address, I gotta go 674 00:34:10,520 --> 00:34:12,759 Speaker 1: notify like ten thous people, and still mill is gonna 675 00:34:12,760 --> 00:34:14,440 Speaker 1: go to the wrong place. Right. But if I have 676 00:34:14,520 --> 00:34:16,759 Speaker 1: my own d I D that I control, anyone that 677 00:34:16,760 --> 00:34:18,560 Speaker 1: wants to send me a package could just ping my 678 00:34:18,640 --> 00:34:21,160 Speaker 1: D I D and automatically just have my info. If 679 00:34:21,200 --> 00:34:22,680 Speaker 1: I want to go to the bar and someone wants 680 00:34:22,680 --> 00:34:24,200 Speaker 1: to card me, which I'm too old to that now 681 00:34:24,239 --> 00:34:26,520 Speaker 1: but sometimes still maybe. But if I give them my 682 00:34:26,560 --> 00:34:28,799 Speaker 1: I D, all they need to know is if I'm 683 00:34:28,840 --> 00:34:30,680 Speaker 1: over eighteen or not, or twenty one or not. They 684 00:34:30,680 --> 00:34:33,440 Speaker 1: don't need to know my address, my hair color, I like, 685 00:34:33,520 --> 00:34:35,160 Speaker 1: they don't need that. And so my d I D 686 00:34:35,280 --> 00:34:37,640 Speaker 1: allows me to control my D and share with whatever 687 00:34:37,680 --> 00:34:41,839 Speaker 1: I want. And the problem is is that right now 688 00:34:41,960 --> 00:34:44,719 Speaker 1: we we log in with SS O with Facebook or 689 00:34:44,719 --> 00:34:47,400 Speaker 1: with Google I D right, but they own my I 690 00:34:47,600 --> 00:34:49,880 Speaker 1: D so it allows me to own it. Now. But 691 00:34:49,960 --> 00:34:52,480 Speaker 1: the problem then is, Okay, where do I put my 692 00:34:52,600 --> 00:34:57,160 Speaker 1: I D that nobody could censor it? Doubt they're putting 693 00:34:57,160 --> 00:35:02,320 Speaker 1: it in the Bitcoin time chain. Turns out now and 694 00:35:02,360 --> 00:35:04,520 Speaker 1: I said time chain because in the Bitcoin white paper 695 00:35:04,560 --> 00:35:07,319 Speaker 1: they never used the word blockchain. Um, so Toshi used 696 00:35:07,320 --> 00:35:11,960 Speaker 1: the word time chain. Blockchain word, so time chain, so 697 00:35:12,400 --> 00:35:14,880 Speaker 1: time because it keeps track of time, right, And so 698 00:35:15,200 --> 00:35:18,160 Speaker 1: we have this Now we have this chain of time 699 00:35:18,800 --> 00:35:22,759 Speaker 1: that's censorship, is censorship resistant and immutable. What can we 700 00:35:22,840 --> 00:35:25,520 Speaker 1: do with this? Well, it turns out we could put 701 00:35:25,520 --> 00:35:27,880 Speaker 1: our D I D s into that and now no 702 00:35:27,960 --> 00:35:30,799 Speaker 1: one can shut it down. And so um, I mean 703 00:35:30,840 --> 00:35:34,080 Speaker 1: we're just just right now, like barely starting to see 704 00:35:34,080 --> 00:35:37,360 Speaker 1: where this could go. So anyway, long long winded answer, sorry, 705 00:35:37,520 --> 00:35:39,680 Speaker 1: but back to the question. Um, Yes, it's going to 706 00:35:39,760 --> 00:35:42,120 Speaker 1: change the monetary system of the world in more ways 707 00:35:42,160 --> 00:35:44,320 Speaker 1: than we know. I think money as we know today 708 00:35:44,440 --> 00:35:47,440 Speaker 1: might forever change. But I think it's even bigger than 709 00:35:47,440 --> 00:35:50,880 Speaker 1: a monetary invention. I think it's it's going to be bigger. 710 00:35:52,520 --> 00:35:56,080 Speaker 1: That is, uh that I I didn't know most of that, 711 00:35:56,080 --> 00:36:01,480 Speaker 1: that's all extremely interesting and UM, I think it's very 712 00:36:01,520 --> 00:36:06,279 Speaker 1: important that that what you brought up there about it's 713 00:36:06,400 --> 00:36:11,800 Speaker 1: very hard to imagine something that is, um not not here, 714 00:36:12,040 --> 00:36:15,120 Speaker 1: Like we can't imagine like imagine this thing that we 715 00:36:15,200 --> 00:36:18,040 Speaker 1: have today but better. And that's kind of in real 716 00:36:18,080 --> 00:36:22,520 Speaker 1: time how innovation happens. Um. But when you take that 717 00:36:22,640 --> 00:36:26,640 Speaker 1: process forward, you know, even just a few decades, you 718 00:36:26,680 --> 00:36:30,120 Speaker 1: can end up with something that is not predictable or 719 00:36:30,239 --> 00:36:33,400 Speaker 1: imaginable by somebody you know, you know prior. It's just 720 00:36:34,520 --> 00:36:39,760 Speaker 1: a result of the process. UM. So that's that's important 721 00:36:39,800 --> 00:36:45,360 Speaker 1: to recognize and remember. UM. And because of that, if 722 00:36:45,400 --> 00:36:47,840 Speaker 1: you know, money becomes something so much more in different 723 00:36:47,840 --> 00:36:50,480 Speaker 1: than what we think of money today. The impact of 724 00:36:50,520 --> 00:36:53,719 Speaker 1: that on everything else that is built on top of 725 00:36:53,760 --> 00:36:57,560 Speaker 1: money also can get flipped upside down. Like value creation 726 00:36:57,600 --> 00:37:01,000 Speaker 1: doesn't mean price going up. It might mean price going down, right, 727 00:37:01,120 --> 00:37:04,239 Speaker 1: like deflation instead of structural inflation. And um, you know 728 00:37:04,280 --> 00:37:08,839 Speaker 1: all sorts of other other things changing as well. Yeah, 729 00:37:08,880 --> 00:37:10,640 Speaker 1: I know I kind of took this conversation to a 730 00:37:10,680 --> 00:37:13,080 Speaker 1: to a curveball. Um. And we can certainly talk about 731 00:37:13,080 --> 00:37:15,239 Speaker 1: the changes to the monetary system because there's there's gonna 732 00:37:15,280 --> 00:37:19,080 Speaker 1: be plenty. Um. I was just listening to this. Uh. 733 00:37:19,239 --> 00:37:23,840 Speaker 1: I pulled this clip of Ronald Reagan's one inaugural speech 734 00:37:24,400 --> 00:37:27,240 Speaker 1: and um, you might have heard this quote from Reagan 735 00:37:27,280 --> 00:37:30,840 Speaker 1: before where he said government is not the solution. Governments 736 00:37:30,880 --> 00:37:33,520 Speaker 1: the problem. Uh. And where that's where that came from. 737 00:37:33,600 --> 00:37:35,200 Speaker 1: Was this inaugural speech. I want to go back and 738 00:37:35,200 --> 00:37:36,759 Speaker 1: listen to. I was trying to get the context of 739 00:37:36,760 --> 00:37:38,560 Speaker 1: what he was talking about, because it actually says in 740 00:37:38,560 --> 00:37:42,719 Speaker 1: this crisis, government is not the solution the problem. So 741 00:37:42,760 --> 00:37:44,279 Speaker 1: I was like, well, what crisis he talking about? He 742 00:37:44,320 --> 00:37:46,840 Speaker 1: was talking about inflation night it was right, so it 743 00:37:46,920 --> 00:37:49,600 Speaker 1: was high inflation. And he went on to say that 744 00:37:49,640 --> 00:37:54,399 Speaker 1: it's government that's causing this problem. Um. And so it's 745 00:37:54,400 --> 00:37:56,360 Speaker 1: been going on for a long time. Government's not a solution, 746 00:37:56,360 --> 00:37:59,280 Speaker 1: They're the problem. And so when you, um can take 747 00:37:59,400 --> 00:38:01,480 Speaker 1: the thing the hands of the government, as fa High 748 00:38:01,480 --> 00:38:05,960 Speaker 1: ex said, we could take monetary supply, monetary policy away 749 00:38:06,000 --> 00:38:09,200 Speaker 1: from not just the government, away from the hands of men, period, 750 00:38:09,760 --> 00:38:12,279 Speaker 1: because men are always gonna want to willing to corrupt it. Um. 751 00:38:12,320 --> 00:38:16,359 Speaker 1: What can that do to change the world? You know? Right' 752 00:38:16,480 --> 00:38:19,200 Speaker 1: It's it's really it's really big what I would pose 753 00:38:19,440 --> 00:38:22,640 Speaker 1: And this is just a big, big question for a 754 00:38:22,640 --> 00:38:26,279 Speaker 1: position for people to ponder. But when you have two 755 00:38:26,280 --> 00:38:28,319 Speaker 1: groups of people, and I'm gonna use an extreme but 756 00:38:28,360 --> 00:38:31,000 Speaker 1: you'll see how applical this is. But uh, if we 757 00:38:31,040 --> 00:38:35,719 Speaker 1: had in the African Congo, there's this bloodthirsty warlord for example, 758 00:38:36,040 --> 00:38:38,560 Speaker 1: and everybody that lives under him is like afraid because 759 00:38:38,880 --> 00:38:41,600 Speaker 1: whenever he wants, he just comes and steals everything they have, right, 760 00:38:41,880 --> 00:38:45,839 Speaker 1: and so those people are not incentivized to produce any 761 00:38:45,920 --> 00:38:48,239 Speaker 1: value into the world. They don't want to. They don't 762 00:38:48,280 --> 00:38:50,319 Speaker 1: want to like plant for the future, they don't want 763 00:38:50,320 --> 00:38:51,719 Speaker 1: to save for the future, they want to build for 764 00:38:51,760 --> 00:38:53,400 Speaker 1: the future because they just know like no matter what 765 00:38:53,400 --> 00:38:54,840 Speaker 1: I do, they're just gonna come steal it from me. 766 00:38:55,080 --> 00:38:58,800 Speaker 1: So these people are unproductive, no new progress or anything. 767 00:38:59,160 --> 00:39:01,640 Speaker 1: The war lord also knows that anytime he wants, he 768 00:39:01,640 --> 00:39:03,520 Speaker 1: can just come steal from the people, so he's not 769 00:39:03,600 --> 00:39:07,000 Speaker 1: incentivized to produce anything of value to the world. So 770 00:39:07,040 --> 00:39:11,000 Speaker 1: you have two groups of people who basically produce zero 771 00:39:11,239 --> 00:39:14,879 Speaker 1: positive impact on the world, zero progress, zero value creation. Now, 772 00:39:14,920 --> 00:39:17,239 Speaker 1: if you just with a little bit of technology can 773 00:39:17,280 --> 00:39:20,320 Speaker 1: shift the balance of power to where now this group 774 00:39:20,320 --> 00:39:22,759 Speaker 1: of people now could store their wealth in a way 775 00:39:22,800 --> 00:39:26,000 Speaker 1: that couldn't be stolen. What does that do to all 776 00:39:26,000 --> 00:39:29,520 Speaker 1: of a sudden, Well, now they're incentivized to think long term, 777 00:39:29,560 --> 00:39:32,960 Speaker 1: they're incentivized to produce things of value, They're incentivized to 778 00:39:33,000 --> 00:39:36,279 Speaker 1: create value. And the warlord goes, will shoot. I can't 779 00:39:36,360 --> 00:39:38,600 Speaker 1: just come steal it from them, So I guess I 780 00:39:38,640 --> 00:39:40,919 Speaker 1: have to figure out way to provide value to these 781 00:39:40,920 --> 00:39:42,879 Speaker 1: people in exchange for them giving me some of their 782 00:39:42,920 --> 00:39:45,080 Speaker 1: money or their value. And so now we went from 783 00:39:45,160 --> 00:39:49,760 Speaker 1: both groups of people providing zero value or to humanity 784 00:39:49,840 --> 00:39:52,360 Speaker 1: to the world, to now both groups trying to provide 785 00:39:52,360 --> 00:39:56,200 Speaker 1: as much value as they can. And so that's what 786 00:39:56,239 --> 00:39:59,040 Speaker 1: Big Win is doing. And it's hard to imagine where 787 00:39:59,080 --> 00:40:01,320 Speaker 1: that leads us, but I think it leads us somewhere 788 00:40:01,320 --> 00:40:07,160 Speaker 1: pretty special. I think one area that it's pretty evident 789 00:40:07,200 --> 00:40:10,239 Speaker 1: it's leading us to right now is the globalization, which 790 00:40:10,280 --> 00:40:13,160 Speaker 1: is something that you talked about earlier when you were 791 00:40:13,160 --> 00:40:17,719 Speaker 1: talking about the cycles. Um, there are kind of two 792 00:40:18,120 --> 00:40:25,640 Speaker 1: prevailing thoughts out there, you know, given the globalization is happening, 793 00:40:26,200 --> 00:40:30,120 Speaker 1: there's one camp that you know, probably most popularized by 794 00:40:30,160 --> 00:40:32,640 Speaker 1: Ray Dalio that says, you know, China is the new 795 00:40:32,680 --> 00:40:39,800 Speaker 1: global leader, America has peaked, going down, chaos everywhere else. Uh. 796 00:40:40,080 --> 00:40:43,000 Speaker 1: You look at somebody like Peter Zion and he's talking 797 00:40:43,080 --> 00:40:45,120 Speaker 1: basically the exact opts that he's got his new book, 798 00:40:45,280 --> 00:40:47,920 Speaker 1: The End of the World is just the beginning. Um, 799 00:40:48,000 --> 00:40:50,880 Speaker 1: and he's talking about how it's you know, deglobalization is 800 00:40:51,120 --> 00:40:56,360 Speaker 1: bad for most countries, worst for China, and very good 801 00:40:56,400 --> 00:41:00,840 Speaker 1: for the United States. UM. Give all that you studied 802 00:41:00,840 --> 00:41:03,800 Speaker 1: about this, what is your opinion on winners and losers 803 00:41:04,040 --> 00:41:09,880 Speaker 1: as we start moving towards the globalization? Yeah. So, Uh. 804 00:41:10,120 --> 00:41:13,040 Speaker 1: Both of those guys are brilliant, and both of those 805 00:41:13,080 --> 00:41:16,200 Speaker 1: guys have written big books with tons of data. I've 806 00:41:16,200 --> 00:41:19,120 Speaker 1: read both, and I recommend everyone read both. What I 807 00:41:19,120 --> 00:41:23,840 Speaker 1: would say both of them overlook is the technology piece. 808 00:41:24,719 --> 00:41:27,239 Speaker 1: They both overlook the technology piece. And I and I 809 00:41:27,239 --> 00:41:32,000 Speaker 1: don't know why, UM, I have a critique Daio's work. UM. 810 00:41:32,040 --> 00:41:34,160 Speaker 1: I've had Peter's ion on my show and I've and 811 00:41:34,160 --> 00:41:36,839 Speaker 1: I've asked him as well. Uh. They're both brilliant and 812 00:41:36,840 --> 00:41:39,600 Speaker 1: and and both both worth reading. I would say the 813 00:41:39,640 --> 00:41:44,399 Speaker 1: difference of those two is obviously, Uh. Dahio is a China, chill. 814 00:41:44,840 --> 00:41:46,960 Speaker 1: He loves China. He's made all his money in China, 815 00:41:47,360 --> 00:41:50,239 Speaker 1: and he bows down and praises them whenever he can. 816 00:41:50,400 --> 00:41:53,360 Speaker 1: And Peter's Ion has like Cia ties and he appears 817 00:41:53,360 --> 00:41:55,000 Speaker 1: to be a mouthpiece for the US. So I think 818 00:41:55,080 --> 00:41:57,160 Speaker 1: both of them are very biased in their opinions, and 819 00:41:57,160 --> 00:41:59,000 Speaker 1: if you look at their track record of the history, 820 00:41:59,200 --> 00:42:02,880 Speaker 1: one is very pro U say, one's very pro China. Um. 821 00:42:02,920 --> 00:42:04,960 Speaker 1: But what I would say that I think is a 822 00:42:04,960 --> 00:42:08,800 Speaker 1: little bit nuanced to that is um. When Peter Zion 823 00:42:08,880 --> 00:42:12,360 Speaker 1: talks about the United States or America being coming out 824 00:42:12,400 --> 00:42:17,080 Speaker 1: the best out of this globalization era, UM, I think 825 00:42:17,120 --> 00:42:20,600 Speaker 1: he's talking about the United States land mass as we 826 00:42:20,640 --> 00:42:23,319 Speaker 1: know it, and maybe not the American government as we 827 00:42:23,400 --> 00:42:26,840 Speaker 1: know it, because what he talks about is like this, 828 00:42:26,840 --> 00:42:29,560 Speaker 1: this piece of dirt is just blessed by God. We 829 00:42:29,640 --> 00:42:33,480 Speaker 1: have the most arable land, the most traversible rivers, the 830 00:42:33,520 --> 00:42:37,759 Speaker 1: best defensible land, the most energy. We have it. We 831 00:42:37,800 --> 00:42:41,400 Speaker 1: have it all. Yeah, and so it's ours to lose. 832 00:42:41,440 --> 00:42:43,080 Speaker 1: No other country in the world can do that. China, 833 00:42:43,160 --> 00:42:45,919 Speaker 1: by comparison, is mostly desert. It's too hot. They don't 834 00:42:45,920 --> 00:42:47,360 Speaker 1: have the arable land, they don't have the water. The 835 00:42:47,400 --> 00:42:49,160 Speaker 1: water they do have his contaminant. They have no energy, 836 00:42:49,200 --> 00:42:50,960 Speaker 1: they have to import eighty percent of the energy. And 837 00:42:51,000 --> 00:42:53,120 Speaker 1: so in contrast, they don't have anything the US has. 838 00:42:53,200 --> 00:42:56,640 Speaker 1: But in a bigger term, um they produce things. The 839 00:42:56,719 --> 00:43:00,440 Speaker 1: US produces and consumes things. And so China has no 840 00:43:00,480 --> 00:43:04,480 Speaker 1: one to buy their goods if not for the US. Mhmm. 841 00:43:05,440 --> 00:43:07,879 Speaker 1: But the US can create our own goods and buy 842 00:43:07,880 --> 00:43:11,720 Speaker 1: our own goods the problem, so it's it's ours to lose. 843 00:43:11,800 --> 00:43:14,520 Speaker 1: I would agree with Zion there. I disagree with Dahio 844 00:43:14,600 --> 00:43:17,400 Speaker 1: in that respect because the problem that I have and 845 00:43:17,440 --> 00:43:19,880 Speaker 1: I would imagine you would agree, is that the problem 846 00:43:19,880 --> 00:43:24,480 Speaker 1: with communism is that communism it takes away individualism, it's 847 00:43:24,480 --> 00:43:28,319 Speaker 1: the opposite, obviously, and it takes away human creativity. And 848 00:43:28,400 --> 00:43:31,000 Speaker 1: I believe that as long as we have human creativity, 849 00:43:31,040 --> 00:43:34,359 Speaker 1: there's an infinite possible amount of returns that we can 850 00:43:34,400 --> 00:43:37,400 Speaker 1: have because we're always going to imagining new things. But 851 00:43:37,480 --> 00:43:39,600 Speaker 1: when you and that's why America has been so great, 852 00:43:39,800 --> 00:43:42,279 Speaker 1: That's why America's great, That's why American evants everything. Even 853 00:43:42,280 --> 00:43:45,880 Speaker 1: though Taiwan makes all the um the best microchips in 854 00:43:45,920 --> 00:43:51,120 Speaker 1: the world, the designs, the designs come from the United States, right, 855 00:43:51,760 --> 00:43:54,200 Speaker 1: so we have the creativity, we invent stuff in China, 856 00:43:54,320 --> 00:43:58,640 Speaker 1: Communist China will never have that ingenuity to create, and 857 00:43:58,680 --> 00:44:00,560 Speaker 1: so I just don't think they'll ever six. They've been 858 00:44:00,600 --> 00:44:03,839 Speaker 1: able to play some financial engineering games because of the 859 00:44:04,080 --> 00:44:08,799 Speaker 1: you know, centralization of the CCP UM to basically by 860 00:44:08,840 --> 00:44:11,960 Speaker 1: this economic growth, but at what cost. I mean, their 861 00:44:12,000 --> 00:44:14,640 Speaker 1: debt levels are UM two to three times higher than 862 00:44:14,680 --> 00:44:17,959 Speaker 1: the United States debt levels. They have this huge demographic problem, 863 00:44:18,000 --> 00:44:21,319 Speaker 1: as Dahia points out. I'm sorry zihon so um. I 864 00:44:21,320 --> 00:44:23,960 Speaker 1: I agree with most of the premise of zion Um. 865 00:44:24,000 --> 00:44:26,000 Speaker 1: What I disagree with him on when he was on 866 00:44:26,040 --> 00:44:29,920 Speaker 1: my show is that, Um, it seems like they've offset 867 00:44:30,000 --> 00:44:32,960 Speaker 1: a lot of these problems that they have in resources 868 00:44:33,040 --> 00:44:38,960 Speaker 1: and population through modern age colonialism. So through Belton Road initiative, 869 00:44:38,960 --> 00:44:41,719 Speaker 1: through Belton Road two point oh, they've gone and acquired 870 00:44:41,760 --> 00:44:47,040 Speaker 1: all these resources and so maybe that sustains them. Um. 871 00:44:47,120 --> 00:44:49,120 Speaker 1: I think, you know, I think the and what I 872 00:44:49,160 --> 00:44:52,759 Speaker 1: fear with the US is that we've let the we've 873 00:44:52,840 --> 00:44:55,680 Speaker 1: let the trojan horse in the gates, right, Um, the 874 00:44:56,239 --> 00:44:59,960 Speaker 1: the Chinese UM, the CCP, the government has embedded themse 875 00:45:00,000 --> 00:45:02,960 Speaker 1: of so deeply in the United States politics. I mean, 876 00:45:03,000 --> 00:45:06,680 Speaker 1: they basically controlled politics. We already you know the Biden 877 00:45:06,719 --> 00:45:10,840 Speaker 1: crime family, but also both speakers, you know, McConnell, whatever. 878 00:45:10,880 --> 00:45:14,000 Speaker 1: They have deep ties in China, and so I think 879 00:45:14,040 --> 00:45:16,120 Speaker 1: we've let them in. They bought up massive amounts of farmland. 880 00:45:16,120 --> 00:45:18,480 Speaker 1: They buy a strategic land all around our military basis, 881 00:45:18,680 --> 00:45:20,560 Speaker 1: Which is, why are we making such a big deal 882 00:45:20,560 --> 00:45:23,799 Speaker 1: about a balloon when we know they stole all our 883 00:45:23,880 --> 00:45:27,040 Speaker 1: I P. We know they've been We've caught professors, you know, 884 00:45:27,120 --> 00:45:29,600 Speaker 1: doing espionage with them. We know they owned the strategic land. 885 00:45:29,640 --> 00:45:32,160 Speaker 1: Why we know they're killing us with fentyl? Why do 886 00:45:32,239 --> 00:45:34,680 Speaker 1: we care about a balloon all of a sudden. Um, 887 00:45:34,760 --> 00:45:36,360 Speaker 1: So I think I think, I think we have a 888 00:45:36,360 --> 00:45:38,680 Speaker 1: big problem with China on our hands. I think ultimately 889 00:45:38,760 --> 00:45:42,520 Speaker 1: they'll fall, but it's it's the US is to lose. Um. 890 00:45:42,560 --> 00:45:45,920 Speaker 1: If what we're seeing from this new batch of Republicans, 891 00:45:45,920 --> 00:45:48,279 Speaker 1: and I'm not a Republican Democrat guy, I don't like 892 00:45:48,360 --> 00:45:51,040 Speaker 1: to assign labels, but what we're seeing is they just 893 00:45:51,120 --> 00:45:55,040 Speaker 1: put this resolution forward to denounce socialism. I don't know 894 00:45:55,040 --> 00:45:57,040 Speaker 1: if you saw that. And so they just put this 895 00:45:57,160 --> 00:46:00,279 Speaker 1: like House resolution together which basically lays out all the 896 00:46:00,280 --> 00:46:02,880 Speaker 1: atrocities of socialism and all the deaths that have happened, 897 00:46:02,920 --> 00:46:05,239 Speaker 1: and they're getting everybody to come behind and stamp it 898 00:46:05,480 --> 00:46:09,279 Speaker 1: and certify that socialism and communist is bad and we 899 00:46:09,360 --> 00:46:12,240 Speaker 1: are stand for capitalism, and like, that's a pretty big move. 900 00:46:12,680 --> 00:46:14,040 Speaker 1: It's a pretty big move, and it's part of this 901 00:46:14,160 --> 00:46:18,840 Speaker 1: pendulum swinging back. And so I think, um, I have 902 00:46:18,880 --> 00:46:22,520 Speaker 1: an optimism bias. Everybody listening, check your bias. I have 903 00:46:22,560 --> 00:46:26,120 Speaker 1: an optimistic bias. But it seems like we're the pendulum 904 00:46:26,160 --> 00:46:29,480 Speaker 1: swinging back. The US government is starting to wake up 905 00:46:29,480 --> 00:46:33,320 Speaker 1: to these enemies within the gates. I'm starting to take action. Um. 906 00:46:33,360 --> 00:46:35,560 Speaker 1: I think it puts China on the ropes. And I 907 00:46:35,640 --> 00:46:40,120 Speaker 1: probably tend more towards agreeing with peter's Ion's argument. Nalios, 908 00:46:41,120 --> 00:46:45,759 Speaker 1: sure you have an optimism bias. Um, Given all of 909 00:46:45,800 --> 00:46:50,280 Speaker 1: the UH, I would say, temptations to have a pessimistic 910 00:46:50,280 --> 00:46:53,359 Speaker 1: outlook on on the world and just throw up your 911 00:46:53,360 --> 00:46:55,239 Speaker 1: hands in despair and say there's nothing we can do. 912 00:46:55,280 --> 00:46:59,360 Speaker 1: It's all going to collapse around us. Every problem is 913 00:46:59,520 --> 00:47:02,000 Speaker 1: an opperat tunity when looked from looked at from the 914 00:47:02,040 --> 00:47:04,880 Speaker 1: other side, what are some of the biggest opportunities that 915 00:47:04,920 --> 00:47:07,320 Speaker 1: you are excited about in the next couple of years 916 00:47:07,440 --> 00:47:10,200 Speaker 1: and maybe even longer than that, given what's going on 917 00:47:10,360 --> 00:47:13,399 Speaker 1: right now. Um, that you know the average person can 918 00:47:13,400 --> 00:47:16,799 Speaker 1: do to to prepare and take advantage of. Well, Um, 919 00:47:16,800 --> 00:47:18,440 Speaker 1: this is gonna be a little bit different than what 920 00:47:18,520 --> 00:47:20,719 Speaker 1: you might be experiencing. But I think it's to to 921 00:47:20,760 --> 00:47:23,600 Speaker 1: answer your question, the biggest opportunity that I see right 922 00:47:23,600 --> 00:47:26,879 Speaker 1: now for the average person, especially the average American, but 923 00:47:27,239 --> 00:47:28,919 Speaker 1: if you're in any of the Western world, I think 924 00:47:28,920 --> 00:47:32,000 Speaker 1: this is your opportunity. It's the biggest opportunity to to 925 00:47:32,080 --> 00:47:35,080 Speaker 1: make a lot of money and to change the direction 926 00:47:35,080 --> 00:47:37,480 Speaker 1: of the world. And so what am I talking about? Um, 927 00:47:37,520 --> 00:47:41,839 Speaker 1: it's not a brand new hot Stoker cryptotip. Sorry, it's uh, 928 00:47:41,880 --> 00:47:45,359 Speaker 1: it's it's that. Um, I'm a Robbert Kiyosaki disciple. And 929 00:47:45,400 --> 00:47:47,239 Speaker 1: the cash flow quadrant and really the B in the 930 00:47:47,280 --> 00:47:50,279 Speaker 1: eye quadrants. So we create wealth in the B and 931 00:47:50,280 --> 00:47:52,640 Speaker 1: then we take that money and we save it or 932 00:47:52,680 --> 00:47:54,680 Speaker 1: we invest it in the eye quadrants. So back to 933 00:47:54,760 --> 00:47:57,640 Speaker 1: kind of that analogy of the warlord. Um, we need 934 00:47:57,680 --> 00:48:00,839 Speaker 1: to be creating value into the world, solving people problems, right, 935 00:48:01,520 --> 00:48:04,960 Speaker 1: And so I think, right now there's the biggest opportunity 936 00:48:05,080 --> 00:48:08,000 Speaker 1: for somebody who wants to make money through business as 937 00:48:08,000 --> 00:48:11,200 Speaker 1: an investor UM or just as an entrepreneur, and that 938 00:48:11,360 --> 00:48:15,920 Speaker 1: is building in the parallel economy. So what do I 939 00:48:15,960 --> 00:48:18,360 Speaker 1: mean by that? Um, If you go back and study 940 00:48:18,880 --> 00:48:22,200 Speaker 1: the USSR in the seventies and eighties, because communism was 941 00:48:22,280 --> 00:48:25,080 Speaker 1: so strict and oppressive, people were leaving the main economy 942 00:48:25,080 --> 00:48:28,080 Speaker 1: to go building the new parallel economy. Parallel economies, you 943 00:48:28,080 --> 00:48:30,040 Speaker 1: can think of it as a black market. So in 944 00:48:30,280 --> 00:48:33,800 Speaker 1: everywhere in the world there's capitalism, where there's black markets. 945 00:48:33,800 --> 00:48:38,160 Speaker 1: In prison their trading cigarettes for onions, right, there's always capitalism. 946 00:48:38,160 --> 00:48:40,960 Speaker 1: And in Argentina Venezuela, when the money collapse, they're trading 947 00:48:41,400 --> 00:48:44,160 Speaker 1: water for batteries, right. So there's always that going on. 948 00:48:44,520 --> 00:48:49,040 Speaker 1: And what's happened is because the globalists have come on 949 00:48:49,280 --> 00:48:53,279 Speaker 1: so hard and so heavy, people are pushing back on this. 950 00:48:53,680 --> 00:48:56,880 Speaker 1: Your vote turns out doesn't count and everybody realizes that. 951 00:48:57,200 --> 00:49:00,439 Speaker 1: But where our vote does count is with our economic vote, 952 00:49:00,480 --> 00:49:03,320 Speaker 1: our monetary vote, right. And so the cloud Schwab in 953 00:49:03,360 --> 00:49:06,240 Speaker 1: the World Forum is pushing something called the public private 954 00:49:06,280 --> 00:49:12,000 Speaker 1: partnership fascism, businesses and corporations working together. He forgot one thing, though. 955 00:49:12,600 --> 00:49:15,160 Speaker 1: Corporations are owned by shareholders, which are you and I, 956 00:49:15,640 --> 00:49:18,840 Speaker 1: And in order to increase shareholder value, they need more customers. 957 00:49:18,880 --> 00:49:22,200 Speaker 1: And who are the customers? You and I? We businesses 958 00:49:22,239 --> 00:49:26,160 Speaker 1: don't control us. We control the businesses, but only if 959 00:49:26,280 --> 00:49:30,040 Speaker 1: we have entrepreneurs that will step up and allow most 960 00:49:30,120 --> 00:49:33,240 Speaker 1: of us to vote with our money. So we're stuck 961 00:49:33,280 --> 00:49:36,160 Speaker 1: giving our money to woke corporations that hate us, like 962 00:49:36,239 --> 00:49:39,520 Speaker 1: Black Rock. Well, six states divested their funds and now 963 00:49:39,560 --> 00:49:42,400 Speaker 1: Black Rocks running pr Goo and whoa whoa whoa. Vanguard 964 00:49:42,480 --> 00:49:47,000 Speaker 1: dropped their net zero by campaign and um Strive Asset 965 00:49:47,080 --> 00:49:49,640 Speaker 1: Management opened up to compete with them one on one, 966 00:49:49,719 --> 00:49:52,759 Speaker 1: and they're freaking crushing it. Right. That's an example. Better. 967 00:49:52,880 --> 00:49:56,880 Speaker 1: Another example, this is super simple, is Black Rifle coffee. 968 00:49:56,960 --> 00:49:58,400 Speaker 1: If you go to the grocery store, there's like a 969 00:49:58,520 --> 00:50:01,120 Speaker 1: hundred brands of coffee. How do even choose one? But 970 00:50:01,160 --> 00:50:03,640 Speaker 1: they started one called Black Rifle, which supports Second Amendment 971 00:50:03,760 --> 00:50:07,200 Speaker 1: rights and it supports veterans. They just got a multibillion 972 00:50:07,280 --> 00:50:10,839 Speaker 1: dollar valuation like a stupid copy company. Like right, So, 973 00:50:10,880 --> 00:50:14,200 Speaker 1: because what's happening is they're appealing to people's values who 974 00:50:14,239 --> 00:50:18,440 Speaker 1: are not being represented, and we have potentially I'm guessing 975 00:50:18,440 --> 00:50:21,600 Speaker 1: two million Americans just in the US that want to 976 00:50:21,760 --> 00:50:23,560 Speaker 1: vote with want to do something, but they don't know 977 00:50:23,600 --> 00:50:25,560 Speaker 1: what to do. They could vote with their money if 978 00:50:25,600 --> 00:50:27,759 Speaker 1: someone would give them a chance. So another I'll give 979 00:50:27,800 --> 00:50:31,200 Speaker 1: you one more example and I'll stop. But Ben Shapiro, 980 00:50:31,560 --> 00:50:34,439 Speaker 1: another big podcast host, conservative podcast host known for saying 981 00:50:34,480 --> 00:50:37,640 Speaker 1: super mean things. He said that men can't get pregnant, 982 00:50:37,960 --> 00:50:40,200 Speaker 1: and I said men can't get pregnant, and one of 983 00:50:40,239 --> 00:50:43,239 Speaker 1: his sponsors, Harry's Razors, got all mad at him, and 984 00:50:43,239 --> 00:50:44,920 Speaker 1: they said, hey, Ben, if you don't if you don't 985 00:50:44,960 --> 00:50:48,560 Speaker 1: make a formal apology, a formal apology on this, we're 986 00:50:48,560 --> 00:50:51,600 Speaker 1: gonna pull our sponsorship. And Ben said, you know what, 987 00:50:51,719 --> 00:50:53,640 Speaker 1: as a matter of fact, I'm going to cancel my 988 00:50:53,680 --> 00:50:56,239 Speaker 1: sponsorship with you, and instead of Harry's Razors, I'm gonna 989 00:50:56,280 --> 00:51:00,920 Speaker 1: start Jeremy's Razors. And he did. Now there's Big, and 990 00:51:00,920 --> 00:51:03,760 Speaker 1: there's Gillette, and there's Dollar Shave Club, and there's Harry's. 991 00:51:03,760 --> 00:51:04,880 Speaker 1: I mean, who the hell is going to start a 992 00:51:04,920 --> 00:51:08,359 Speaker 1: razor company? Bench Burrow Daily Wire started one called Jeremy's Razors. 993 00:51:08,360 --> 00:51:10,120 Speaker 1: And if you go to the website, everyone listening and 994 00:51:10,239 --> 00:51:13,160 Speaker 1: encourage you to it says. The thing on the front 995 00:51:13,200 --> 00:51:16,120 Speaker 1: of the of the website says, stop giving your money 996 00:51:16,120 --> 00:51:19,880 Speaker 1: to woke corporations that hate you. That's it. It doesn't 997 00:51:19,920 --> 00:51:21,799 Speaker 1: say it's a better raisor it doesn't say it's four 998 00:51:21,840 --> 00:51:23,640 Speaker 1: blade or five blade, doesn't say it has an articulate, 999 00:51:23,640 --> 00:51:26,240 Speaker 1: It didn't say any of that. It just says, stop 1000 00:51:26,239 --> 00:51:28,040 Speaker 1: giving your money. Will corporations that hate you give it 1001 00:51:28,080 --> 00:51:30,799 Speaker 1: to us instead, and they're crushing it. So back to 1002 00:51:30,800 --> 00:51:36,040 Speaker 1: this opportunity, I think anybody, you don't have to be smart, 1003 00:51:36,120 --> 00:51:39,880 Speaker 1: you don't have to have a creative idea. UM. The 1004 00:51:40,120 --> 00:51:48,040 Speaker 1: five main legacy institutions education, finance, media health, UM and 1005 00:51:48,239 --> 00:51:53,120 Speaker 1: uh which one did I cover? H? Media, health, Education, 1006 00:51:53,600 --> 00:51:58,680 Speaker 1: finance and anyway, they're all ready to be overturned. And 1007 00:51:58,760 --> 00:52:01,600 Speaker 1: so what you can do it is basically take any 1008 00:52:01,760 --> 00:52:05,800 Speaker 1: existing business and move it to the parallel economy. Everyone's 1009 00:52:05,800 --> 00:52:07,600 Speaker 1: traveled in their life somewhere. You go into a city, 1010 00:52:07,600 --> 00:52:09,799 Speaker 1: of state of country and gone, dude, I can't believe 1011 00:52:09,800 --> 00:52:12,080 Speaker 1: they don't have that product or service from my home here, 1012 00:52:12,200 --> 00:52:14,680 Speaker 1: if we had that here, I could crush it, right, 1013 00:52:14,840 --> 00:52:17,000 Speaker 1: and so that's basically opportunity. You can literally go get 1014 00:52:17,000 --> 00:52:20,160 Speaker 1: a bag of coffee or a razor, a bag of 1015 00:52:20,200 --> 00:52:23,440 Speaker 1: coffee or a razor, and just reposition it over in 1016 00:52:23,480 --> 00:52:27,200 Speaker 1: the parallel economy. That's it. Yeah. You could be a 1017 00:52:27,239 --> 00:52:30,759 Speaker 1: teacher who's fed up with teaching under this regime and 1018 00:52:30,800 --> 00:52:32,920 Speaker 1: you could start a home school pod and you can 1019 00:52:32,920 --> 00:52:34,840 Speaker 1: get ten kids in your homeschool pod to make twice 1020 00:52:34,880 --> 00:52:37,000 Speaker 1: as much money as you were before. And then you 1021 00:52:37,000 --> 00:52:39,560 Speaker 1: could scale that, right, you could do after skids, after 1022 00:52:39,680 --> 00:52:44,320 Speaker 1: after school programs or or or or school um um 1023 00:52:44,360 --> 00:52:46,640 Speaker 1: you know uh at school activities things like that are 1024 00:52:46,640 --> 00:52:50,400 Speaker 1: school curriculum. You and I were not fighting mainstream media, 1025 00:52:50,440 --> 00:52:53,759 Speaker 1: but we've started our own media outlets, right, and there's 1026 00:52:53,800 --> 00:52:56,399 Speaker 1: all these opportunity. So you can either create something that 1027 00:52:56,440 --> 00:53:00,520 Speaker 1: disrupts health or media or education or finance, or just 1028 00:53:00,560 --> 00:53:02,799 Speaker 1: get a bag of coffee or a raiser. And I 1029 00:53:02,840 --> 00:53:06,000 Speaker 1: think that's the easiest way to make millions of dollars 1030 00:53:06,000 --> 00:53:09,319 Speaker 1: and change the world at the same time. Yeah, well, 1031 00:53:09,960 --> 00:53:13,040 Speaker 1: I love that got me all fired up. I completely agree, 1032 00:53:13,800 --> 00:53:18,560 Speaker 1: um and uh and I would I would echo that absolutely. 1033 00:53:18,600 --> 00:53:21,200 Speaker 1: Stop giving your stop giving your money to uh two 1034 00:53:21,200 --> 00:53:23,520 Speaker 1: people that hate you, companies that hate you, because every 1035 00:53:23,560 --> 00:53:25,440 Speaker 1: dollar you spend is a vote for the way you 1036 00:53:25,440 --> 00:53:27,840 Speaker 1: want the world to be. Um, and those are the 1037 00:53:27,880 --> 00:53:31,040 Speaker 1: votes that actually count. So m but what we need 1038 00:53:32,400 --> 00:53:36,200 Speaker 1: entreurs have to step up so we can do that. Right. 1039 00:53:36,320 --> 00:53:39,560 Speaker 1: That's where that that's where that big opportunity is producing 1040 00:53:39,640 --> 00:53:43,200 Speaker 1: rather than consuming. Yeah yeah, yeah, yeah, I love it. 1041 00:53:43,520 --> 00:53:46,920 Speaker 1: I love it. Thank you so much, Mark, to spend 1042 00:53:47,160 --> 00:53:52,480 Speaker 1: and yeah exactly. Yeah. Yeah. Well if you want to 1043 00:53:52,480 --> 00:53:55,600 Speaker 1: be able to have that have that money for the future, 1044 00:53:55,680 --> 00:54:01,080 Speaker 1: that will be something probably a lot more than money. Um. Yeah, well, 1045 00:54:01,120 --> 00:54:03,840 Speaker 1: thank you again, Mark, And uh, it was a blast, 1046 00:54:04,040 --> 00:54:06,879 Speaker 1: went by a super fast. Like I said, we could 1047 00:54:06,880 --> 00:54:09,440 Speaker 1: talk about all those things for probably hours each. So 1048 00:54:09,480 --> 00:54:12,120 Speaker 1: I'll have to have you on again sometime soon. And 1049 00:54:12,400 --> 00:54:15,399 Speaker 1: I appreciate you spending the time with me today. Yeah, thanks, Joe, 1050 00:54:15,400 --> 00:54:15,960 Speaker 1: it's a pleasure.