WEBVTT - Bitcoin / Capitalism / Communism 0:00:00.040 --> 0:00:02.320 Hello, and welcome to another episode of the Mark Moa 0:00:02.440 --> 0:00:05.840 show where we talk about the decentralized revolution. Of course, 0:00:05.880 --> 0:00:07.680 each end, every week we're talking about the way the 0:00:07.720 --> 0:00:11.440 world is changing. And if you don't realize that, I 0:00:11.440 --> 0:00:13.280 don't know what you're paying attention to, the world we're 0:00:13.280 --> 0:00:15.000 going into is not the same as the world we 0:00:15.000 --> 0:00:16.520 are leaving behind. And of course we look at it 0:00:16.520 --> 0:00:20.120 through the lens of politics, finance, and technology. I've tried 0:00:20.160 --> 0:00:23.040 to find the convergence of those three things to find 0:00:23.079 --> 0:00:26.720 the signal in the noise. Of course, we look at 0:00:26.720 --> 0:00:32.160 the technology being bitcoin, the decentralized technology, this cryptocurrency movement 0:00:32.280 --> 0:00:34.680 is changing the world, and so we take a look 0:00:34.720 --> 0:00:38.000 at that. And really, have you ever heard the saying 0:00:38.000 --> 0:00:41.519 that money makes the world go round? I'm sure you have, 0:00:41.960 --> 0:00:45.960 And that's exactly what it really is. It's all about 0:00:46.000 --> 0:00:48.800 the money. Uh. If you watch any of these murder 0:00:48.840 --> 0:00:51.360 mysteries on TV, these crime series will always be like 0:00:51.400 --> 0:00:54.440 follow the money, right or you want to follow like 0:00:54.520 --> 0:00:58.640 who has motive or incentive? And typically incentives are driven 0:00:58.680 --> 0:01:02.080 by economics buy money, and so really it's always the 0:01:02.120 --> 0:01:03.720 money that makes the world around, which is why I 0:01:03.760 --> 0:01:07.360 like to look at the intersection of the finance and 0:01:07.360 --> 0:01:10.640 then how the political uh political system works to kind 0:01:10.640 --> 0:01:13.720 of manage or manipulate or control the financial system. And 0:01:13.720 --> 0:01:16.360 but then this technology is changing them. And so one 0:01:16.400 --> 0:01:18.560 of the things that I like to track is the 0:01:18.680 --> 0:01:23.880 changing of the monetary system and how that changes. And 0:01:24.120 --> 0:01:27.920 as the monetary system changes, than the political system changes. 0:01:28.400 --> 0:01:31.920 Now what changes the monetary system. There's lots of different 0:01:31.959 --> 0:01:35.679 things that can change it. Um So for example, in Zimbabwe, 0:01:36.040 --> 0:01:39.280 they've changed their monetary system multiple times because they continue 0:01:39.319 --> 0:01:42.440 to mismanage it, they continue to manipulate it. So in Zimbabwe, 0:01:42.560 --> 0:01:46.399 they've ruined their currency I think five times in the 0:01:46.480 --> 0:01:51.160 last dozen or so years, and it's because they create 0:01:51.200 --> 0:01:54.720 too much of it. Inflation. Inflation is increasing the money supply. 0:01:54.920 --> 0:01:57.400 So they start out with the Zimbabwe dollar pegged one 0:01:57.440 --> 0:02:00.560 to one to the US dollar, but because print so 0:02:00.600 --> 0:02:04.160 many of those Zimbabwe dollars that now it's two to one, 0:02:04.520 --> 0:02:06.200 and then five to one to the US, and then 0:02:06.240 --> 0:02:08.240 a hundred of one, and then five and then five 0:02:08.240 --> 0:02:12.400 thousand and one, and then a quadrillion to one, until 0:02:12.480 --> 0:02:14.440 everyone in the country is a billionaire and it's three 0:02:14.840 --> 0:02:17.520 fifty billion just for one single egg and it goes 0:02:17.680 --> 0:02:21.240 it's our spiry and out of control. It's gradually then suddenly, 0:02:21.280 --> 0:02:23.639 so first it's one to one, then two to one, 0:02:23.720 --> 0:02:26.120 then five to one, then ten to one, and it's 0:02:26.120 --> 0:02:29.079 still not that bad. But then it's a thousand to one, 0:02:29.120 --> 0:02:30.840 and then a million to one, and then a billion 0:02:30.840 --> 0:02:32.840 to one, and then a quadrillion to one, and then 0:02:33.080 --> 0:02:36.600 it's gone right. And so through that mismanagement, that monetary 0:02:36.639 --> 0:02:39.239 system changed. And then of course Zimbabwe tries again and 0:02:39.280 --> 0:02:40.840 they pack again to the dollar one to one, and 0:02:40.880 --> 0:02:42.440 then it's a quadrillion to one again, and they try 0:02:42.480 --> 0:02:45.000 again and they fail again, and then they say, okay, 0:02:45.040 --> 0:02:47.840 we just won't have a monetary system, we'll just use 0:02:47.919 --> 0:02:51.200 the dollar um. But then after a couple of years, 0:02:51.320 --> 0:02:52.679 why don't we give it a try again. They try 0:02:52.680 --> 0:02:54.560 it again, and now they're they went back to one 0:02:54.600 --> 0:02:55.960 to one with the dollar, and now they're at like 0:02:56.080 --> 0:02:59.040 five to one to the dollar. So they just can't 0:02:59.040 --> 0:03:00.919 seem to learn their lessons. A lot of times it's 0:03:00.960 --> 0:03:04.840 done through mismanagement, through manipulation, through fraud, or whatever it 0:03:04.840 --> 0:03:07.240 may be. I think most things, maybe this is my 0:03:07.320 --> 0:03:10.440 own well, it certainly is my own internal bias. I 0:03:10.480 --> 0:03:13.720 just believe most people are good, So I think, you know, 0:03:13.760 --> 0:03:15.920 they probably had good intentions. They need a little bit 0:03:15.919 --> 0:03:19.000 more money for whatever social program that maybe hey we 0:03:19.040 --> 0:03:21.840 need to feed the poor, right, or hey, we have 0:03:21.880 --> 0:03:24.280 this emergency we have to take care of, so let's 0:03:24.280 --> 0:03:27.000 just print a little bit more currency. We didn't do it. 0:03:27.040 --> 0:03:28.880 We didn't do it out of bad reason. We didn't 0:03:28.880 --> 0:03:31.280 have a good reason. Let's help the poor, and everybody's 0:03:31.280 --> 0:03:35.320 for feeding the poor, right. But by creating more money, 0:03:35.560 --> 0:03:37.560 you set this whole chain of events off. And so 0:03:37.600 --> 0:03:40.640 anyway that's what happens. There's there's ways, but also other 0:03:40.640 --> 0:03:42.960 ways that can change. Of course, maybe it starts with 0:03:43.000 --> 0:03:45.600 good intentions, then it goes into fraud, where now it's like, well, 0:03:45.800 --> 0:03:47.480 if I print a bunch more money and give it 0:03:47.520 --> 0:03:50.520 to these types of programs, um, like we're gonna build 0:03:50.560 --> 0:03:53.400 these schools. But through building these schools, I can put 0:03:53.440 --> 0:03:55.440 a bunch of that money in my pocket. I can 0:03:55.480 --> 0:03:57.040 give it to all my buddies who are in the 0:03:57.040 --> 0:03:59.920 construction industry. Uh, then it starts going into fraud, and 0:04:00.000 --> 0:04:01.680 of course that's kind of where we're at with the 0:04:01.800 --> 0:04:04.720 entire global system. But another way that it changes is 0:04:06.160 --> 0:04:12.360 through uh political situations. So for example, UM, since most 0:04:12.400 --> 0:04:15.400 of the world agreed to be on a dollar standard 0:04:15.520 --> 0:04:18.640 reserve standard of the world, and most of it's been 0:04:18.720 --> 0:04:20.960 that way. Now a lot of people in the world 0:04:21.320 --> 0:04:24.479 don't want to be on the dollar standard anymore, like Russia, 0:04:24.680 --> 0:04:27.719 for example, like China, and so that could change the 0:04:27.720 --> 0:04:29.480 monetary system, which I want to talk about. And then 0:04:29.480 --> 0:04:36.400 there's technology. So money, money's communication. Money communicates value. Money 0:04:36.400 --> 0:04:38.400 allows me to get the goods and services that I want, 0:04:38.600 --> 0:04:41.320 and I use money as that medium of exchange to 0:04:41.360 --> 0:04:45.360 get me that. UM and we haven't really seen any 0:04:45.480 --> 0:04:49.960 technological upgrades to money. So we see that the way 0:04:50.000 --> 0:04:52.200 that we get music has changed. I used to need 0:04:52.240 --> 0:04:55.560 a hundred person orchestra to listen to Beethoven, and then 0:04:55.680 --> 0:04:58.040 I could get it in a record, and then in 0:04:58.120 --> 0:05:00.680 a track and then a cassette CD and now it's 0:05:00.720 --> 0:05:04.960 just streaming. And so so technology changed the way that 0:05:05.000 --> 0:05:07.600 we get music. And now it's just streaming and I 0:05:07.600 --> 0:05:09.880 don't even own CDs anymore, it's just streams off my phone. 0:05:09.880 --> 0:05:12.120 And it changed books, right, We used to have west 0:05:12.120 --> 0:05:13.320 to have to go to a library, and now I 0:05:13.400 --> 0:05:15.960 get any book I want almost probably for free, most 0:05:16.000 --> 0:05:20.440 of them just online um movies, et cetera. But what 0:05:20.560 --> 0:05:23.000 about the money. The money hasn't changed. As a matter 0:05:23.000 --> 0:05:25.120 of fact, our credit card system that we still use today, 0:05:25.120 --> 0:05:28.679 our debit card, a c H credit card UH system 0:05:28.720 --> 0:05:31.600 I believe was created about a hundred years ago, right, 0:05:31.640 --> 0:05:33.960 I think Diner's card was the very first credit card. 0:05:34.760 --> 0:05:38.000 And it's very archaic. It's very kick When you go 0:05:38.080 --> 0:05:39.760 to the store and you give them your credit card 0:05:39.839 --> 0:05:44.680 or your debit card, it literally makes a phone call, right, 0:05:44.760 --> 0:05:46.080 It makes that noise and it and it has to 0:05:46.080 --> 0:05:47.960 connect and then has to connect with that one bank 0:05:48.000 --> 0:05:50.080 and has to another bank and does this person have 0:05:50.120 --> 0:05:52.040 an account and is there money? And it takes all 0:05:52.040 --> 0:05:53.960 this time and so then maybe it's I don't know, 0:05:53.960 --> 0:05:55.719 thirty or forty five seconds while you're standing there at 0:05:55.760 --> 0:05:59.880 the counter. But then that merchant doesn't typically get the 0:06:00.120 --> 0:06:03.080 money for then it batches at the end of the day. 0:06:03.120 --> 0:06:04.560 So at the end of the day, then that whole 0:06:04.600 --> 0:06:07.200 bat that all the transactions for the day to get batched, 0:06:07.480 --> 0:06:09.560 and then they run it and they could take three 0:06:09.600 --> 0:06:12.440 to five days for the merchant to actually get that money. 0:06:12.960 --> 0:06:15.039 So three to five days for debit cards, credit cards, 0:06:15.040 --> 0:06:17.920 everyone's a visa so fast that systems a hundred years 0:06:17.920 --> 0:06:21.240 old and hasn't been upgraded. UM, So technology can change 0:06:21.360 --> 0:06:23.240 mon terary systems. Let's talk about a couple of those things. 0:06:23.240 --> 0:06:26.480 So UM the dollar. The dollar has been the reserve 0:06:26.520 --> 0:06:29.360 currency of the world four Bretton Woods Agreement. Everyone agreed 0:06:29.360 --> 0:06:32.760 to use the dollar, UM, but things change, like the 0:06:32.839 --> 0:06:35.640 Zimbabwe situation I gave. So if you look at the dollar, 0:06:35.760 --> 0:06:39.599 what happened well nineteen thirteen the creation of the Fellow 0:06:39.600 --> 0:06:44.760 Reserve and the Fellow Reserve UM started creating paper claims 0:06:44.800 --> 0:06:47.960 to gold. But the problem was that by nineteen thirteen 0:06:48.040 --> 0:06:52.680 and nineteen eighteen and nine and nineteen and nineteen thirty, 0:06:52.839 --> 0:06:56.120 they printed way too many of these paper gold claims 0:06:56.560 --> 0:06:59.960 and there wasn't enough gold to back it up. Now 0:07:00.120 --> 0:07:02.360 time all the goal was in the banks. Because gold 0:07:02.440 --> 0:07:04.200 is too big and heavy and clunky to move around. 0:07:04.240 --> 0:07:06.839 It's much easier to use these paper goals certificates. And 0:07:06.880 --> 0:07:09.960 by ninety three they said, shoot, we owe a bunch 0:07:09.960 --> 0:07:12.680 of gold, but we don't have gold, and we can't 0:07:12.680 --> 0:07:14.960 just create gold from thin air. So let's just take 0:07:15.000 --> 0:07:16.800 it from everybody and we'll just seize the goal. At 0:07:16.800 --> 0:07:20.520 sixty one O two Executive Order six two, nineteen thirty three, 0:07:21.160 --> 0:07:26.480 the US government seized everybody's gold. Then they recapitalized everything. 0:07:26.560 --> 0:07:29.720 Then they started printing too many goals certificates four put 0:07:29.720 --> 0:07:33.960 the whole world on this gold system. Um by, I'm sorry. 0:07:34.000 --> 0:07:36.440 By nineteen seventy one, they had again printed way too 0:07:36.480 --> 0:07:39.040 many of these paper cal stificates. Sounds sort of like Zimbabwe, 0:07:39.120 --> 0:07:42.040 doesn't it. They created way too of these paper cal stificates, 0:07:42.080 --> 0:07:44.680 and all these countries like France sent their worships over 0:07:44.720 --> 0:07:46.800 and said, we don't want these paper goalsertificates. Give us 0:07:46.800 --> 0:07:50.600 the gold. And President Richard Nixon said, nope, you're not 0:07:50.600 --> 0:07:53.280 getting the gold anymore. We're season year goals. So nineteen 0:07:53.320 --> 0:07:56.360 thirty three they took the American people's gold. Nineteen seventy 0:07:56.360 --> 0:08:01.200 one they took the world's gold because they printed too 0:08:01.360 --> 0:08:05.240 much money, too many paper clalstits. Just like Zimbabwe. It's 0:08:05.280 --> 0:08:08.600 not'n familiar. All right, now here we are the dollars 0:08:08.680 --> 0:08:12.320 still the reserve currency of the world. But fast forwarding 0:08:13.000 --> 0:08:15.840 something I've been talking about all the time, the decentralized revolution. 0:08:16.200 --> 0:08:18.800 The world is decentralizing. So the world has been on 0:08:18.840 --> 0:08:22.560 a path of centralization, of centralizing, and so you know 0:08:22.600 --> 0:08:24.720 the U n head and nail things up in the 0:08:24.720 --> 0:08:27.680 world that coming form, and the World Health Organization right, 0:08:27.720 --> 0:08:30.640 and the I M F right and all of these 0:08:30.680 --> 0:08:32.840 treaties NATO right, and so the whole world has been 0:08:32.880 --> 0:08:35.120 kind of working together globally and we have this global 0:08:35.120 --> 0:08:40.400 reserve currency. But that's all changing now. The world is decentralizing. Now. 0:08:40.520 --> 0:08:43.600 The world is moving into this protectionist era where it's 0:08:43.600 --> 0:08:48.000 almost every nation out for themselves. And when every nation 0:08:48.000 --> 0:08:50.360 starts looking out for themselves and to start thinking about 0:08:50.360 --> 0:08:52.760 their own resources, what resource do I have after protect 0:08:52.760 --> 0:08:55.840 my resources to protect my security, and I need to 0:08:55.880 --> 0:08:58.040 protect my money because my money is what gives me 0:08:58.080 --> 0:09:00.680 the security and allows me to get the resources. And 0:09:00.720 --> 0:09:02.720 if we're just all on the dollar standard, I don't 0:09:02.720 --> 0:09:05.240 have any control there. And Russia found out the hard way, 0:09:05.400 --> 0:09:09.360 one of three global superpowers with nuclear weapons. They had 0:09:09.360 --> 0:09:11.680 their bank accounts frozen, just like the truckers in Canada 0:09:11.679 --> 0:09:13.080 got their bankcount frozen, just like you get your ban 0:09:13.080 --> 0:09:15.559 account frozen. They got their ban account frozen. Over six 0:09:15.640 --> 0:09:21.640 hundred million dollars in uh FX reserves were seized. If 0:09:21.640 --> 0:09:23.320 you're just tuning in, you're listening to the Mark Moa Show. 0:09:23.320 --> 0:09:25.520 We're talking about the decentralized revolution, the way the money 0:09:25.520 --> 0:09:27.040 system is changing. I got a lot more to cover 0:09:27.040 --> 0:09:29.240 when I come back. Don't go away, We'll be right back, 0:09:30.040 --> 0:09:31.520 all right. If you're just tuning in, you're listening to 0:09:31.559 --> 0:09:34.319 the markma Show, we're talking about the way the monetary 0:09:34.360 --> 0:09:36.360 system is changing and how the whole world is changing 0:09:36.400 --> 0:09:39.280 because of that. And I was kind of walking you 0:09:39.360 --> 0:09:41.520 through the history of the monetary system a little bit. 0:09:41.520 --> 0:09:43.480 If you missed any of that, don't worry. I got 0:09:43.520 --> 0:09:45.840 your back. You can check me out on the podcast. 0:09:45.920 --> 0:09:48.400 Just go to your favorite podcast players your search Mark 0:09:48.440 --> 0:09:52.320 Moss or on YouTube on the Market Disruptors YouTube channel. 0:09:52.320 --> 0:09:54.640 You can find me there as well, and you can 0:09:54.679 --> 0:09:56.640 watch me and listen to me there if you missed 0:09:56.640 --> 0:09:59.320 any of this. Okay, So moving forward. UM, now we 0:09:59.360 --> 0:10:02.000 have the situation and where the world is breaking apart. 0:10:02.000 --> 0:10:04.080 We're in a decentralized revolution, which want to talk about 0:10:04.080 --> 0:10:06.440 every week, and now each of these nations are kind 0:10:06.440 --> 0:10:08.839 of moving out on their own. Um. They realize that 0:10:08.880 --> 0:10:12.839 the United States and the dollar payment system. I should 0:10:12.840 --> 0:10:15.240 say the dollar payment network. More than anything. The dollar 0:10:15.280 --> 0:10:17.040 is a payment network. It's a way to move money 0:10:17.080 --> 0:10:20.040 around the world almost instantaneously, and it works pretty good. 0:10:20.520 --> 0:10:23.400 It's archaic, but you know, it still works pretty good, 0:10:23.480 --> 0:10:26.600 especially for the US government. But if you're on the 0:10:26.600 --> 0:10:29.200 wrong end of that, like Russia, for example, then you 0:10:29.280 --> 0:10:32.679 get sanctions and you get your bank accounts seized and frozen. 0:10:33.240 --> 0:10:36.839 And if you're not a top three global superpower with 0:10:36.920 --> 0:10:38.800 nuclear weapons, what chance do you have? And the answer 0:10:38.840 --> 0:10:41.640 is none. And so the world is starting to break apart. 0:10:42.200 --> 0:10:46.559 And we saw this week that Russia claims the claims 0:10:46.640 --> 0:10:50.920 Bank of China in talks to challenge the US reserve 0:10:51.200 --> 0:10:56.520 currency status. That's a big news, big big news this week. 0:10:57.000 --> 0:10:59.920 And we can see that Russian Russian officials want China 0:11:00.120 --> 0:11:04.200 help in developing an international payment system that would allow 0:11:04.240 --> 0:11:08.199 Moscow and Basing to undermine the global primacy of the 0:11:08.280 --> 0:11:13.800 US dollar. Russian Deputy Prime Minister alex Alexander Novak said 0:11:14.400 --> 0:11:18.240 such work makes it possible to prevent risks and promote 0:11:18.280 --> 0:11:20.840 the transition of the rouble and Yu want into the 0:11:20.920 --> 0:11:24.920 status of world reserve currencies in quote, and so what 0:11:24.920 --> 0:11:28.000 he's saying, is it makes it possible to prevent risks? 0:11:28.600 --> 0:11:33.360 What risks? What risks are they using the dollar system? Oh? Oh, 0:11:33.400 --> 0:11:35.240 the one where they sees all your money? That risk? 0:11:35.679 --> 0:11:37.880 Oh the other risk where you're not allowed to join 0:11:37.960 --> 0:11:40.280 it or you get kicked out of it. So any 0:11:40.360 --> 0:11:44.840 any country that gets sanctioned, like Iran for example, And 0:11:44.880 --> 0:11:46.480 I'm not saying they're a good country, and I'm not 0:11:46.480 --> 0:11:49.240 saying that they deserve don't deserve to be sanctioned. That's 0:11:49.280 --> 0:11:51.839 a different topic for a whole different day. My point 0:11:51.920 --> 0:11:53.880 is is what risk is he talking about makes it 0:11:53.880 --> 0:11:57.080 possible to prevent risk? What risks? The risk of one 0:11:57.360 --> 0:12:00.720 not being able to freely trade with other countries or 0:12:00.760 --> 0:12:03.760 two being you know, by not being allowed to use 0:12:03.800 --> 0:12:05.920 it or being kicked out of it, or to having 0:12:05.960 --> 0:12:08.560 your money taken. That's a big that's a big risk, 0:12:08.720 --> 0:12:11.680 wouldn't you agree? And so of course, if Russia doesn't 0:12:11.679 --> 0:12:13.520 stand a chance, then no other country stands a chance. 0:12:13.760 --> 0:12:17.320 And so China sits back and watches the story and go, shoot, 0:12:18.559 --> 0:12:21.440 we didn't really think about that. Like man, if Russia 0:12:21.480 --> 0:12:25.880 takes Ukraine and the the world just moves to shut 0:12:25.920 --> 0:12:27.720 them out of the banking system and take their money. 0:12:28.400 --> 0:12:30.600 What happens if China over here we want to go 0:12:30.600 --> 0:12:35.160 take Taiwan, what could happen? Well, we better start, I 0:12:35.320 --> 0:12:38.319 like to say all the time in business, UM, dig 0:12:38.360 --> 0:12:42.000 your well before you're thirsty. Don't wait until you're thirsty. 0:12:42.400 --> 0:12:45.280 Start digging before you're thirsty. Um. And so maybe China 0:12:45.320 --> 0:12:47.720 is like, well, shoot, we should probably build up another 0:12:47.840 --> 0:12:51.040 system before it's our turn to get kicked out like Russia. 0:12:51.240 --> 0:12:53.439 Like what happened to Russia? And that's exactly what it 0:12:53.440 --> 0:12:56.760 looks like it's happening to here. It says that they're aligned. 0:12:56.800 --> 0:13:02.439 They're aligned in their mutual ambition to degrade Western power. Um. 0:13:02.480 --> 0:13:04.360 In this regard, the Central Bank of Russia and the 0:13:04.400 --> 0:13:06.640 Bank of China are working on the possibility of opening 0:13:06.640 --> 0:13:11.280 accounts for Russian companies in China Chinese companies in Russia 0:13:11.679 --> 0:13:16.960 and create a payment system without using Swift. Novac said, So, 0:13:17.000 --> 0:13:21.320 Swift is the monetary system that moves money around the world, 0:13:22.240 --> 0:13:24.079 and so they want to create an alternative to that. 0:13:24.280 --> 0:13:28.120 And of course Russia is kind of I don't know 0:13:28.360 --> 0:13:31.199 if I want to say, leading the charge in these 0:13:31.280 --> 0:13:37.199 bricks nations. So it's Brazil Russia, India, China, South America. 0:13:37.240 --> 0:13:40.040 Of course, now we're seeing Argentina, We're seeing now even 0:13:40.080 --> 0:13:42.800 Saudi Arabia saying they want to join the bricks, which 0:13:42.800 --> 0:13:46.040 make up about sixty of the people in the world. 0:13:48.040 --> 0:13:50.320 So if they set up with this other system, it 0:13:50.400 --> 0:13:53.600 makes sense that six of the world could move on 0:13:53.720 --> 0:13:57.800 to that system. It says. Dozens of foreigns financial institutions 0:13:57.880 --> 0:14:01.360 joined Moscow's alternative payment system this year year a Russian 0:14:01.360 --> 0:14:03.520 central bank set in September, but the number is still 0:14:03.880 --> 0:14:06.080 dwarfed by the thousands entities that rely on swift. So 0:14:06.200 --> 0:14:10.160 dozens have jumped onto the new alternative that Moscow that 0:14:10.240 --> 0:14:13.839 Russia has already set up. But dozens dozens is small 0:14:13.920 --> 0:14:18.720 compared to thousands, obviously, it says here quote, the US 0:14:18.800 --> 0:14:24.480 needs to mend its ways, stop politicizing and weaponizing economic 0:14:24.520 --> 0:14:29.880 trade and side tech issues, and provide a fair, just 0:14:30.680 --> 0:14:35.360 and non discriminatory business environment for foreign companies, including for 0:14:35.480 --> 0:14:41.120 those in China, said China and Foreign Minister spokesman Zhao Lejion. 0:14:43.160 --> 0:14:46.480 So this is this is a problem and is not 0:14:46.600 --> 0:14:48.800 a It's not an easy problem to dissect, and we 0:14:48.800 --> 0:14:50.320 could spend a lot of a lot of time talking 0:14:50.320 --> 0:14:59.080 about this, but basically you have problems, potential problems like terrorism. 0:14:59.240 --> 0:15:05.040 Right if a nation is hostile top to the United States, 0:15:06.120 --> 0:15:09.040 should we allow them to have that money that makes 0:15:09.080 --> 0:15:13.040 them more hostile? These are these are very tricky issues. 0:15:13.080 --> 0:15:17.000 There's no good answers for this. But money should be 0:15:17.080 --> 0:15:20.520 a tool, and so tools can be used for good 0:15:20.560 --> 0:15:22.920 and bad, and money should be a tool and it 0:15:22.920 --> 0:15:27.920 should not be political. Now, I guess if you control 0:15:28.080 --> 0:15:30.200 the money, then you want to control some of the 0:15:30.200 --> 0:15:32.800 interests of that. And that's exactly the situation the US 0:15:32.920 --> 0:15:36.360 is in. The problem is as the United States continues 0:15:36.440 --> 0:15:39.840 to get more as they can do to weaponize as 0:15:39.840 --> 0:15:41.960 a dollar more, they're just going to have more and 0:15:42.000 --> 0:15:46.080 more people wanting to go move to a different system. 0:15:46.120 --> 0:15:48.760 And so anyway, that's big, big development and we'll have 0:15:48.840 --> 0:15:52.080 to see how that how that plays out. Now, we 0:15:52.120 --> 0:15:55.840 can also see that the war against the dollar um 0:15:55.880 --> 0:15:58.280 and the dollar payment network always know it as we 0:15:58.320 --> 0:16:01.560 know it is not dying down. It's only continue to escalate. 0:16:01.920 --> 0:16:05.000 On top of these additions, these new payment networks being 0:16:05.040 --> 0:16:07.720 set up. So again they want to replace Swift, which 0:16:07.760 --> 0:16:10.320 is old technology, but they're probably gonna set up with 0:16:10.320 --> 0:16:13.800 another old technology. Remember technology is also what changes things, 0:16:13.800 --> 0:16:15.560 and so we have that, and so we have the 0:16:15.680 --> 0:16:18.960 era of the CBDC or the central bank digital currencies 0:16:19.320 --> 0:16:22.320 there that are coming out and that is a payment upgrade, 0:16:22.320 --> 0:16:24.440 and we can see that's happening. We see India is 0:16:24.520 --> 0:16:27.680 rolling out their retail pilot program for a digital roupie, 0:16:28.960 --> 0:16:30.680 so that's big. Now we already talked about the Federal 0:16:30.760 --> 0:16:34.200 Reserve wants to launch a twelve week pilot program UM 0:16:34.200 --> 0:16:36.200 in partnership with a bunch of other commercial banks to 0:16:36.240 --> 0:16:38.920 test out their own CBDC here in the United States. 0:16:39.360 --> 0:16:42.720 But the US isn't alone, right, Almost every country is 0:16:42.760 --> 0:16:45.720 working on a digital currency. India is working on developing 0:16:45.720 --> 0:16:48.880 a digital rupee and recently announced the second phase of 0:16:48.880 --> 0:16:51.160 its testing, so they're already going. They've already run a 0:16:51.200 --> 0:16:55.760 successful pilot test program UM at the wholesale level, sort 0:16:55.760 --> 0:16:57.320 of like what the Central Bank is doing at the 0:16:57.320 --> 0:16:59.600 whole sale level like at the banks, and now the 0:16:59.640 --> 0:17:01.680 Reserve Bank of India, the rb I announced it will 0:17:01.680 --> 0:17:04.639 test the digital route digital route in a retail setting. 0:17:04.920 --> 0:17:07.720 So the US is testing it with banks, which India 0:17:07.720 --> 0:17:09.760 already did, and now India is going to roll it 0:17:09.800 --> 0:17:12.240 out to retail. According to the RBI, the central bank 0:17:12.240 --> 0:17:14.760 digital currency is a legal tender issue by a central bank. 0:17:15.160 --> 0:17:18.359 In digital form, it's the same as fiat currency and 0:17:18.400 --> 0:17:22.040 it's exchangeable one to one with the van currency, only 0:17:22.119 --> 0:17:25.960 its form is different. It's digital. So what's happening. The 0:17:26.440 --> 0:17:30.359 thing is is that as this happens, as people start 0:17:30.400 --> 0:17:33.320 to change from one monetary system they've always known their 0:17:33.320 --> 0:17:36.959 whole life into another, then it opens up their minds 0:17:36.960 --> 0:17:40.040 to well, what other systems are out there? Right? Once 0:17:40.080 --> 0:17:42.320 you realize there's a problem with one, well then you 0:17:42.359 --> 0:17:45.600 start looking at all your available options for something new. 0:17:46.240 --> 0:17:47.440 If you just tune it in, you're listening to the 0:17:47.480 --> 0:17:50.639 markmas Show. We're talking about, of course, the decentralized revolution. 0:17:50.640 --> 0:17:53.000 We're talking about the way the monetary system is changing 0:17:53.440 --> 0:17:58.040 right before our very eyes. It's not just happening in Russia, China, 0:17:58.080 --> 0:17:59.719 It's also happening in Europe. I've got a lot more 0:17:59.720 --> 0:18:01.240 to cover. Whant to come back? You don't want to 0:18:01.280 --> 0:18:04.040 miss it, don't go away, I'll be right back, all right, 0:18:04.080 --> 0:18:05.679 Welcome back. If you just tune in, you're listening to 0:18:05.720 --> 0:18:09.119 the Mark Moa Show. We're talking about the the decentralized revolution. 0:18:09.119 --> 0:18:11.040 We're talking about the way the world is breaking apart, 0:18:11.119 --> 0:18:13.760 and it's really being breaking apart by the monetary system 0:18:13.840 --> 0:18:17.920 is breaking apart. The dollar homogeney, the dollar world reserve 0:18:18.040 --> 0:18:21.480 status is being challenged, lots of challengers. Like I said, 0:18:21.520 --> 0:18:24.879 when one system that you've always known your whole life, 0:18:24.880 --> 0:18:27.399 and maybe you've never even thought about it, when it 0:18:27.440 --> 0:18:29.879 starts to change and you're looking for something new, but 0:18:29.920 --> 0:18:32.159 then you go look at all your options. You've been 0:18:32.240 --> 0:18:34.360 driving the same car for five years or ten years, 0:18:34.400 --> 0:18:35.800 or however long you've been driving your car for. But 0:18:35.800 --> 0:18:37.000 when you decide that you want to look at a 0:18:37.000 --> 0:18:39.680 new car, well, you're gonna go look at all your options. 0:18:40.040 --> 0:18:42.880 So if I'm gonna leave one financial system that I'm 0:18:42.920 --> 0:18:46.600 in now, one thing that I've always known to be money, 0:18:46.760 --> 0:18:48.760 and now money is going to be something different than 0:18:48.840 --> 0:18:52.760 I want to look at all my options for that now, 0:18:52.800 --> 0:18:55.439 it says here. Digital currencies are similar to bitcoin and 0:18:55.480 --> 0:18:59.240 other cryptocurrencies. They exist as virtual banknotes or coins held 0:18:59.240 --> 0:19:03.240 in a digital wall. It The difference between a government 0:19:03.240 --> 0:19:06.080 digital currency and bitcoin is the value of the digital 0:19:06.080 --> 0:19:09.760 currency is backed or is controlled by the state, so 0:19:09.800 --> 0:19:15.240 it's just like any fiat currency, so as the rb I, 0:19:16.240 --> 0:19:18.920 the Reserve Bank of India put it according to them, 0:19:19.200 --> 0:19:24.959 Unlike cryptocurrencies, a CBDC isn't a commodity or claims on 0:19:25.040 --> 0:19:29.760 commodities or digital assets. Cryptocurrencies have no issuer. They are 0:19:29.800 --> 0:19:33.040 not money, certainly not currency as the world has come 0:19:33.080 --> 0:19:36.560 to be understood historically. I have a little bit of 0:19:36.560 --> 0:19:40.560 pushback on that statement. Now, um, they are not money 0:19:40.640 --> 0:19:43.399 as the world as the word has come to be 0:19:43.480 --> 0:19:47.199 understood historically. So what is money and what has it 0:19:47.240 --> 0:19:53.000 been um understood historically? I think most people think about 0:19:53.160 --> 0:19:56.160 money as you know, the dollars in there in there 0:19:56.320 --> 0:19:58.720 either their wallets they carry around or most people digital 0:19:58.760 --> 0:20:01.800 so the money the digits you see in your bank account. 0:20:01.960 --> 0:20:04.320 So money is typically being used as a medi of 0:20:04.359 --> 0:20:07.520 exchange to buy and sell goods. Right, if you want food, 0:20:08.160 --> 0:20:10.320 or you want an occasion, or you want something else, 0:20:10.320 --> 0:20:12.040 you're going to use your money in order to get that. 0:20:12.200 --> 0:20:16.400 Medium of exchange is simple and so in in regards 0:20:16.440 --> 0:20:20.320 to that, lots of things can be meaning of exchange. 0:20:20.840 --> 0:20:24.520 So I might exchange my labor might be one thing 0:20:24.560 --> 0:20:27.040 that I might exchange. Right, Um, so I think. I 0:20:27.080 --> 0:20:32.160 think as as the words been understood historically money being 0:20:32.160 --> 0:20:34.200 a medium exchange. Now it says the first part said 0:20:34.240 --> 0:20:39.320 that UM a CBDC isn't a commodity or claims on commodities, 0:20:39.600 --> 0:20:43.240 So gold is considered a commodity. What's the difference, Well, 0:20:43.320 --> 0:20:48.560 commodity and and all money up until the Fiat era 0:20:48.600 --> 0:20:51.720 that we started fifty years ago has been commodity money. 0:20:51.760 --> 0:20:56.359 So commodity is basically typically it's been historically been something 0:20:56.359 --> 0:20:59.720