1 00:00:00,200 --> 00:00:02,360 Speaker 1: Hello, and welcome back to another episode of The Mark 2 00:00:02,440 --> 00:00:04,480 Speaker 1: Mass Show, where of course we're always talking about the 3 00:00:04,519 --> 00:00:08,600 Speaker 1: decentralized revolution, breaking it down for you play by play 4 00:00:08,680 --> 00:00:11,160 Speaker 1: so you can see exactly how the world is changing, 5 00:00:11,200 --> 00:00:13,640 Speaker 1: but not just for the sake of seeing it happen, 6 00:00:14,160 --> 00:00:16,079 Speaker 1: but to understand it. And why do we want to 7 00:00:16,120 --> 00:00:18,680 Speaker 1: understand it? Well, for one, it brings a little bit 8 00:00:18,720 --> 00:00:22,600 Speaker 1: of a peace to our minds, but more importantly, it's 9 00:00:22,640 --> 00:00:25,759 Speaker 1: so that we can we can take the movements, take 10 00:00:25,800 --> 00:00:28,520 Speaker 1: the actions, make the plans that we need in order 11 00:00:28,600 --> 00:00:33,120 Speaker 1: to navigate this properly to secure our wealth, freedom and 12 00:00:33,200 --> 00:00:34,479 Speaker 1: more so, that's why I want it. We want to 13 00:00:34,479 --> 00:00:37,239 Speaker 1: stay a step ahead, you know, I like to I've 14 00:00:37,280 --> 00:00:39,320 Speaker 1: been pounding the table on for about a dozen years, 15 00:00:39,920 --> 00:00:42,440 Speaker 1: wealth transfers. We want to stay in front of these things, 16 00:00:42,479 --> 00:00:45,920 Speaker 1: to stay in front of these wealth transfers and protect 17 00:00:45,960 --> 00:00:47,720 Speaker 1: those things. Now part of the way that we do 18 00:00:47,800 --> 00:00:52,440 Speaker 1: that because understanding this decentralized revolution it's a long process. 19 00:00:52,640 --> 00:00:53,959 Speaker 1: A lot of times people are like, what the heck 20 00:00:54,040 --> 00:00:55,440 Speaker 1: is happening? So I like to bring to you some 21 00:00:55,480 --> 00:00:58,400 Speaker 1: of the latest breaking news headlines what I call the signposts, 22 00:00:58,440 --> 00:01:00,680 Speaker 1: so you can see what the heck is going on, 23 00:01:00,800 --> 00:01:04,959 Speaker 1: and there is a big signpost dropping this week that 24 00:01:05,000 --> 00:01:06,600 Speaker 1: I have to talk about. I have to start the 25 00:01:06,600 --> 00:01:09,320 Speaker 1: show with it, because you know, as the world is 26 00:01:09,400 --> 00:01:11,400 Speaker 1: continued to break apart from the world of globalization to 27 00:01:11,880 --> 00:01:17,120 Speaker 1: decentralization or deglobalization, really what keeps that together has been 28 00:01:17,160 --> 00:01:20,920 Speaker 1: the money. You know, Henry Kissinger warned the world, or 29 00:01:20,959 --> 00:01:23,919 Speaker 1: really kind of told the world what the attack vectors 30 00:01:23,920 --> 00:01:27,560 Speaker 1: were when he said that if you want to control 31 00:01:27,600 --> 00:01:30,080 Speaker 1: the food, you control the people, control the energy, you 32 00:01:30,120 --> 00:01:34,160 Speaker 1: control the continent, but control the money and you control 33 00:01:34,240 --> 00:01:36,560 Speaker 1: the world. And so we can see that for the 34 00:01:36,640 --> 00:01:39,759 Speaker 1: last one hundred years, the United States has maintained its power, grip, 35 00:01:39,800 --> 00:01:43,240 Speaker 1: its homogeny as we call it, over the world by 36 00:01:43,360 --> 00:01:46,240 Speaker 1: controlling the money, by controlling the currency. The US dollar 37 00:01:46,360 --> 00:01:48,680 Speaker 1: is the reserve currency of the world. Now, of course 38 00:01:48,920 --> 00:01:51,600 Speaker 1: the reserve currency of the world are really the superpower 39 00:01:51,640 --> 00:01:53,320 Speaker 1: of the world. Has changed many times, and of course 40 00:01:53,320 --> 00:01:57,400 Speaker 1: the US inherited that from Britain during the World War 41 00:01:57,440 --> 00:02:00,680 Speaker 1: One kind of into World War two efforts process it 42 00:02:00,760 --> 00:02:02,800 Speaker 1: took a while, It took about thirty to forty years. 43 00:02:02,800 --> 00:02:05,000 Speaker 1: So when everybody asked, when is the dollar going to die. 44 00:02:05,080 --> 00:02:09,919 Speaker 1: I say, well, it is, or we're witnessing it right now. Yeah, 45 00:02:09,919 --> 00:02:12,880 Speaker 1: but I like Turkey. The Turkish layer went down ninety 46 00:02:12,919 --> 00:02:15,800 Speaker 1: percent to the US dollar. It's crashing against the dollar. Yeah, 47 00:02:15,840 --> 00:02:17,720 Speaker 1: but the US dollar went down sixty percent to the 48 00:02:17,760 --> 00:02:19,360 Speaker 1: S and P five hundred, and went down one hundred 49 00:02:19,360 --> 00:02:22,160 Speaker 1: percent to bitcoin and went down, you know, forty five 50 00:02:22,160 --> 00:02:24,080 Speaker 1: percent of real estate just in the last five years. 51 00:02:24,280 --> 00:02:27,160 Speaker 1: The US dollar is dying as well. And so we're 52 00:02:27,160 --> 00:02:29,480 Speaker 1: certainly on the path. It's more of like a process, 53 00:02:29,560 --> 00:02:31,799 Speaker 1: not an event. But like I said, this week, we 54 00:02:31,919 --> 00:02:35,160 Speaker 1: had some really big news that's really accelerating this game. 55 00:02:35,400 --> 00:02:36,840 Speaker 1: And rather than tell that for you, I'm it's going 56 00:02:36,880 --> 00:02:39,320 Speaker 1: to play in audio clips. You can hear exactly what 57 00:02:39,360 --> 00:02:41,320 Speaker 1: this is saying, new money, new world. Let's play this 58 00:02:41,320 --> 00:02:43,840 Speaker 1: clip here. The BRIGS group is set to introduce a 59 00:02:43,919 --> 00:02:47,400 Speaker 1: new currency backed by gold in contrast to the credit 60 00:02:47,440 --> 00:02:50,520 Speaker 1: back to US dollar, with countries lining up to join 61 00:02:50,560 --> 00:02:53,120 Speaker 1: the growing initiative. So I'm gonna pause that there for 62 00:02:53,160 --> 00:02:56,480 Speaker 1: a second. So did you hear the contrast there? A 63 00:02:57,400 --> 00:03:01,480 Speaker 1: money backed by gold as a posed to a money 64 00:03:01,520 --> 00:03:04,000 Speaker 1: backed by credit. All right, So the first thing I 65 00:03:04,000 --> 00:03:05,880 Speaker 1: have to understand. Most people don't understand this point, which 66 00:03:05,880 --> 00:03:09,200 Speaker 1: is why most of you aren't getting rich. The dollar system, 67 00:03:09,240 --> 00:03:12,360 Speaker 1: the FIA money system is a debt based system. What 68 00:03:12,400 --> 00:03:16,880 Speaker 1: does that mean. That means money is created through debt. 69 00:03:17,120 --> 00:03:19,040 Speaker 1: So we talk about the FED printing Money's not the 70 00:03:19,040 --> 00:03:22,160 Speaker 1: way it works. Money is created when the banks issue loans, 71 00:03:22,320 --> 00:03:24,079 Speaker 1: all right, So when you buy a house or car boat, 72 00:03:24,280 --> 00:03:26,320 Speaker 1: they issue a loan for that and the money is 73 00:03:26,320 --> 00:03:27,600 Speaker 1: created in debt. Now, the reason why most of you 74 00:03:27,680 --> 00:03:30,240 Speaker 1: aren't aren't rich is you don't understand that. So the 75 00:03:30,240 --> 00:03:32,120 Speaker 1: way that you get rich and a debt based system 76 00:03:32,160 --> 00:03:34,400 Speaker 1: is by using debt. But you've all been listening to 77 00:03:34,480 --> 00:03:36,720 Speaker 1: day Ramsey telling you not to get into debt, which 78 00:03:36,720 --> 00:03:39,360 Speaker 1: is why you broke. So you want to use debt 79 00:03:39,400 --> 00:03:41,480 Speaker 1: and debt based system. But they're offering, though, is a 80 00:03:41,680 --> 00:03:45,200 Speaker 1: gold back system. A goalback system would be one based 81 00:03:45,200 --> 00:03:48,240 Speaker 1: off of savings. Okay, let's keep going and listen to 82 00:03:48,280 --> 00:03:50,560 Speaker 1: the rest of this. The bricks countries are planning to 83 00:03:50,640 --> 00:03:53,400 Speaker 1: introduce a new trading currency which you will be backed 84 00:03:53,440 --> 00:03:56,920 Speaker 1: by gold. More and more countries recently expressed desire to 85 00:03:57,040 --> 00:03:59,800 Speaker 1: join bricks, so this is coming to a head We've 86 00:03:59,800 --> 00:04:01,680 Speaker 1: been talking about this for a while. You're hearing it 87 00:04:01,720 --> 00:04:04,440 Speaker 1: in the news more and more and more that they're 88 00:04:04,440 --> 00:04:07,520 Speaker 1: doing this. But now it's finally coming here, probably in 89 00:04:07,560 --> 00:04:09,480 Speaker 1: the next probably probably this summer of the next month 90 00:04:09,520 --> 00:04:12,240 Speaker 1: or two. They're trying to introduce us, and more and 91 00:04:12,280 --> 00:04:14,320 Speaker 1: more countries are joining the bricks. Of course, the bricks 92 00:04:14,480 --> 00:04:18,760 Speaker 1: stands for Brazil, Russia, India, China, and South Africa. But 93 00:04:18,880 --> 00:04:20,640 Speaker 1: now more and more countries are joining the bricks. As 94 00:04:20,680 --> 00:04:24,520 Speaker 1: a matter of fact, Saudi Arabia is talking about joining 95 00:04:24,560 --> 00:04:26,599 Speaker 1: the bricks. We've had Iran talking about joining the bricks. 96 00:04:26,640 --> 00:04:29,320 Speaker 1: Even our neighbor to the south of Mexico is talking 97 00:04:29,320 --> 00:04:32,159 Speaker 1: about potentially joining the bricks. And so if you get 98 00:04:32,279 --> 00:04:35,359 Speaker 1: all of these producers joining the bricks, it can become 99 00:04:35,360 --> 00:04:38,159 Speaker 1: a formidable force. As a matter of fact, the United 100 00:04:38,200 --> 00:04:41,480 Speaker 1: States took over the global superpower because the United States 101 00:04:41,560 --> 00:04:45,280 Speaker 1: was the producer of the goods. The United States basically 102 00:04:46,000 --> 00:04:49,560 Speaker 1: sent goods and you know, goods out to the world. Right, 103 00:04:49,680 --> 00:04:52,000 Speaker 1: That's really how we took over power, and that's how 104 00:04:52,040 --> 00:04:55,040 Speaker 1: we gained that. I believe it was over seventy percent 105 00:04:55,040 --> 00:04:56,840 Speaker 1: of all the gold in the world was concentrated in 106 00:04:56,839 --> 00:04:59,920 Speaker 1: the United States because we supplied the war. We sent 107 00:05:00,279 --> 00:05:02,360 Speaker 1: all the stuff they needed, all the supplies, and we 108 00:05:02,400 --> 00:05:05,159 Speaker 1: got that back. Today, the United States doesn't export any goods. 109 00:05:05,160 --> 00:05:09,200 Speaker 1: We export services. We export financial services, we export social 110 00:05:09,279 --> 00:05:11,920 Speaker 1: media services. Even Vladimir Putin called this out, he said, 111 00:05:11,920 --> 00:05:13,160 Speaker 1: what are you gonna do? Are you gonna eat off 112 00:05:13,160 --> 00:05:18,320 Speaker 1: those social media stocks? Whereas the bricks nations they make things. 113 00:05:18,600 --> 00:05:21,760 Speaker 1: They have what we call commodities. That could be oil, 114 00:05:21,880 --> 00:05:23,880 Speaker 1: that could be gas, that could be wheat, that could 115 00:05:23,880 --> 00:05:26,200 Speaker 1: be core, and that could be metal, that could be copper, etc. 116 00:05:26,480 --> 00:05:28,599 Speaker 1: That could be precious metals, et cetera. And so now 117 00:05:28,600 --> 00:05:31,599 Speaker 1: we have the bricks which are now well over sixty 118 00:05:31,640 --> 00:05:35,400 Speaker 1: five percent of the world's population, who are actually producing 119 00:05:35,520 --> 00:05:39,719 Speaker 1: the goods, not the services, but the goods that the 120 00:05:39,720 --> 00:05:42,640 Speaker 1: rest of the world needs. Now, I don't think personally 121 00:05:42,640 --> 00:05:45,120 Speaker 1: that this is a one shot, one kill thing. I 122 00:05:45,120 --> 00:05:48,040 Speaker 1: don't think this is like a checkmate, where like, Okay, 123 00:05:48,120 --> 00:05:50,960 Speaker 1: now they launched it, everything I it's over, now, the 124 00:05:51,000 --> 00:05:53,680 Speaker 1: dollar's done. I don't think that's the case. What I 125 00:05:53,680 --> 00:05:55,880 Speaker 1: think is the case is that they're going to have 126 00:05:55,880 --> 00:05:59,359 Speaker 1: a very difficult time making this work in the United States, 127 00:05:59,360 --> 00:06:01,440 Speaker 1: which are supposed to be united We can't even get 128 00:06:01,480 --> 00:06:03,440 Speaker 1: states to agree. As a matter of fact, we've had 129 00:06:03,600 --> 00:06:06,200 Speaker 1: about half the states are now pushing back on moving 130 00:06:06,240 --> 00:06:09,440 Speaker 1: to a CBDC for example. So even in the United States, 131 00:06:09,440 --> 00:06:12,840 Speaker 1: we can't even get something like that done. How are 132 00:06:12,839 --> 00:06:15,800 Speaker 1: you going to get all these different nations that all 133 00:06:15,880 --> 00:06:18,600 Speaker 1: want to be sovereign, that all want to direct their 134 00:06:18,640 --> 00:06:20,680 Speaker 1: own nations as they see fit. How are you going 135 00:06:20,720 --> 00:06:23,400 Speaker 1: to get all of them to use one currency? First 136 00:06:23,440 --> 00:06:25,880 Speaker 1: of all? Second of all, they're all going to have 137 00:06:25,880 --> 00:06:29,159 Speaker 1: to use a currency that's fixed, fixed by gold where 138 00:06:29,200 --> 00:06:31,440 Speaker 1: they can't expand that. How is that going to work? 139 00:06:31,680 --> 00:06:33,480 Speaker 1: I mean China, There's no way that's going to work 140 00:06:33,520 --> 00:06:36,360 Speaker 1: in China. China's debt situation is way worse than the 141 00:06:36,440 --> 00:06:39,400 Speaker 1: United States. If they don't continue to print money, they're 142 00:06:39,400 --> 00:06:41,360 Speaker 1: not going to survive, which is why they don't have 143 00:06:41,400 --> 00:06:45,040 Speaker 1: a free floating currency. If they opened up their capital accounts, 144 00:06:45,160 --> 00:06:47,120 Speaker 1: all the money would leave China, which is why they 145 00:06:47,160 --> 00:06:49,960 Speaker 1: can't do that. So how do they move to a 146 00:06:50,000 --> 00:06:52,880 Speaker 1: fixed monetary supply based off of gold? It just doesn't 147 00:06:52,920 --> 00:06:55,640 Speaker 1: happen now. Of course, China operates a dual currency system. 148 00:06:55,680 --> 00:06:57,719 Speaker 1: So maybe they'll make that work by fudging the numbers, 149 00:06:57,880 --> 00:06:59,320 Speaker 1: but the rest of the nations aren't going to have 150 00:06:59,360 --> 00:07:02,880 Speaker 1: that benefit. And so the thought that all of these 151 00:07:03,240 --> 00:07:06,880 Speaker 1: small nations are all going to agree and they're all 152 00:07:06,920 --> 00:07:09,360 Speaker 1: going to go on a fixed money gold standard is 153 00:07:09,400 --> 00:07:11,440 Speaker 1: a little bit hard to understand, or I should say 154 00:07:11,440 --> 00:07:14,160 Speaker 1: it a little bit hard to believe. But I do 155 00:07:14,200 --> 00:07:16,920 Speaker 1: believe that they're actively trying to do it. I do 156 00:07:17,000 --> 00:07:19,640 Speaker 1: believe that they'll get it launched and off the ground, 157 00:07:20,720 --> 00:07:23,920 Speaker 1: and I do believe it's another chink in the armor 158 00:07:24,040 --> 00:07:26,240 Speaker 1: of the United States. It's not the death blow, it's 159 00:07:26,240 --> 00:07:29,560 Speaker 1: not the final blow, but it certainly undermines the effort 160 00:07:29,600 --> 00:07:32,040 Speaker 1: of that for sure. And I think in the future, 161 00:07:32,080 --> 00:07:33,440 Speaker 1: the way I see the world and I talk about 162 00:07:33,480 --> 00:07:36,560 Speaker 1: the way I talk about the decentralized revolution, I don't 163 00:07:36,640 --> 00:07:40,640 Speaker 1: see another global reserve currency. I don't think there's another 164 00:07:40,840 --> 00:07:46,440 Speaker 1: coordinated one currency that everybody goes to. I think that 165 00:07:46,480 --> 00:07:48,960 Speaker 1: the world's going to continue to break apart, and I 166 00:07:49,000 --> 00:07:51,280 Speaker 1: think that the US and some of its allies that 167 00:07:51,360 --> 00:07:54,800 Speaker 1: you know, the US, maybe Mexico and some of the South, 168 00:07:55,400 --> 00:07:58,520 Speaker 1: maybe the UK, will stick with a dollar based system. 169 00:07:58,760 --> 00:08:02,000 Speaker 1: I think, you know, you'll see Russia, China still with 170 00:08:02,080 --> 00:08:05,400 Speaker 1: their with their with their dollars, uh, you know, the ruble, Nuwan, 171 00:08:05,520 --> 00:08:07,360 Speaker 1: maybe try something different, you might have the bricks trying 172 00:08:07,360 --> 00:08:09,400 Speaker 1: something different. You might end up with five or six 173 00:08:09,520 --> 00:08:13,120 Speaker 1: kind of main currencies in my opinion, And of course, 174 00:08:13,160 --> 00:08:14,640 Speaker 1: I think bitcoin is going to continue to grow and 175 00:08:14,640 --> 00:08:16,560 Speaker 1: grow and grow and take a bigger chunk out of that, 176 00:08:17,360 --> 00:08:20,320 Speaker 1: and we'll see nations continue to adopt bitcoin. Like El Salvador, 177 00:08:20,400 --> 00:08:22,880 Speaker 1: you know, moved onto a bitcoin standard. Now we saw 178 00:08:22,880 --> 00:08:25,040 Speaker 1: the nation of Georgia over in Europe is now going 179 00:08:25,080 --> 00:08:26,960 Speaker 1: to be mining bitcoin. So I think we'll see that 180 00:08:27,000 --> 00:08:29,080 Speaker 1: start to play, and I think we'll see multiple So 181 00:08:29,120 --> 00:08:32,559 Speaker 1: this is a huge step in this and it's certainly 182 00:08:32,559 --> 00:08:33,920 Speaker 1: something that we want to watch out for and pay 183 00:08:33,960 --> 00:08:36,400 Speaker 1: attention to. But just put it into perspective. I don't 184 00:08:36,400 --> 00:08:38,080 Speaker 1: think it's like imminent, like this means by the end 185 00:08:38,080 --> 00:08:40,160 Speaker 1: of the year, the dollar is done. And when you 186 00:08:40,160 --> 00:08:42,120 Speaker 1: say the dollar is done, what does that even mean? Anyway, 187 00:08:42,440 --> 00:08:44,800 Speaker 1: The dollar took over from the pound sterling, but the 188 00:08:44,800 --> 00:08:48,280 Speaker 1: pound sterling is still the third most used currency in 189 00:08:48,320 --> 00:08:51,640 Speaker 1: the world one hundred years later, and so even when 190 00:08:51,679 --> 00:08:53,960 Speaker 1: the dollar is done it's not done. I think the 191 00:08:54,000 --> 00:08:56,080 Speaker 1: dollar will probably be around for a very long time, 192 00:08:56,200 --> 00:08:58,760 Speaker 1: just like the pound sterling is. If you're just tuning in, 193 00:08:58,760 --> 00:09:01,120 Speaker 1: you're listening to the Mark Mash I got a whole 194 00:09:01,160 --> 00:09:03,200 Speaker 1: lot more news headlines to cover when I come back, 195 00:09:03,360 --> 00:09:06,440 Speaker 1: about bitcoin, crypto, the Supreme Court, the Fed, the economy, 196 00:09:06,440 --> 00:09:10,560 Speaker 1: and more. Don't go away, I'll be right back, all right, 197 00:09:10,559 --> 00:09:12,240 Speaker 1: welcome back. If you just tune in, you're listening to 198 00:09:12,280 --> 00:09:14,480 Speaker 1: the Mark mass Show. We're running through some of the 199 00:09:14,559 --> 00:09:18,240 Speaker 1: latest breaking news headlines that went down this week. Sign posts, 200 00:09:18,280 --> 00:09:20,880 Speaker 1: as I call them, signposts that show us where the 201 00:09:20,920 --> 00:09:23,959 Speaker 1: world is going, because when you're zoomed in, when you're 202 00:09:23,960 --> 00:09:25,439 Speaker 1: looking at everything on a day to day BASEI it's 203 00:09:25,440 --> 00:09:28,520 Speaker 1: hard sometimes to understand where this is all going. You 204 00:09:28,520 --> 00:09:31,040 Speaker 1: have to understand the history and you have to understand 205 00:09:31,040 --> 00:09:34,200 Speaker 1: the trajectory of where we're going. As we run through those, 206 00:09:34,240 --> 00:09:36,080 Speaker 1: you know, a lot's been going on in the bitcoin 207 00:09:36,120 --> 00:09:39,280 Speaker 1: crypto space, specifically this week. One of the biggest players 208 00:09:39,120 --> 00:09:41,440 Speaker 1: that's not really public facing. It's not like a really 209 00:09:41,480 --> 00:09:43,600 Speaker 1: really retail retail company, so a lot of you made 210 00:09:43,640 --> 00:09:47,040 Speaker 1: maybe don't know the name, but we had another one 211 00:09:47,320 --> 00:09:51,120 Speaker 1: bite the dust here and it is causing massive carnage 212 00:09:51,120 --> 00:09:52,640 Speaker 1: for a lot of people involved. And that is a 213 00:09:52,679 --> 00:09:56,040 Speaker 1: company called Prime Trust. Now just think about that name, 214 00:09:56,360 --> 00:09:59,400 Speaker 1: Prime Trust, like as in prime as in like the best, 215 00:09:59,440 --> 00:10:02,600 Speaker 1: the best, trust, the most trusted person. And so that's 216 00:10:02,600 --> 00:10:05,720 Speaker 1: what they were. They were like a trusted third party 217 00:10:05,800 --> 00:10:11,040 Speaker 1: for retail facing companies that would handle their bitcoin transactions 218 00:10:11,080 --> 00:10:15,439 Speaker 1: as well as storing their bitcoin for them. And unfortunately, 219 00:10:15,480 --> 00:10:18,679 Speaker 1: the most trustworthy company, Prime Trust, has no longer trustworthy, 220 00:10:18,720 --> 00:10:21,160 Speaker 1: should have never been trustworthy, and they have gone down. 221 00:10:21,400 --> 00:10:23,760 Speaker 1: And that's a big math problem. The math problem is 222 00:10:23,840 --> 00:10:26,840 Speaker 1: that they owe about one hundred and fifty five million 223 00:10:26,920 --> 00:10:30,920 Speaker 1: dollars to clients and they have only about seventy one 224 00:10:31,040 --> 00:10:36,040 Speaker 1: million dollars in assets. It's a big problem. They don't 225 00:10:36,080 --> 00:10:39,160 Speaker 1: even have fifty cents on the dollar for what they owe. Now, 226 00:10:39,920 --> 00:10:43,960 Speaker 1: what led to some of this problem is almost unbelievable. 227 00:10:45,880 --> 00:10:49,520 Speaker 1: I mean it is unbelievable. It's probably not worth believing, 228 00:10:49,559 --> 00:10:52,280 Speaker 1: it's probably a lie. But so far the story is 229 00:10:52,800 --> 00:10:58,000 Speaker 1: that we just happened to lose the keys to our wallets. 230 00:10:58,240 --> 00:11:00,600 Speaker 1: So with bitcoin, you store it yourself. What you have 231 00:11:00,640 --> 00:11:02,440 Speaker 1: to store is you have to store your private key. 232 00:11:02,600 --> 00:11:04,760 Speaker 1: It's sort of like if you had gold back in 233 00:11:04,760 --> 00:11:07,480 Speaker 1: the day and you buried it out in the desert, 234 00:11:07,520 --> 00:11:09,240 Speaker 1: and you made yourself a treasure map so you could 235 00:11:09,280 --> 00:11:11,600 Speaker 1: go back and find that gold later, and you want 236 00:11:11,640 --> 00:11:13,959 Speaker 1: to protect that treasure map with everything you have, because 237 00:11:14,000 --> 00:11:15,800 Speaker 1: if somebody were to steal that treasure map, they can 238 00:11:15,800 --> 00:11:17,640 Speaker 1: go find your gold, right or if it got burned 239 00:11:17,679 --> 00:11:19,160 Speaker 1: up in a fire, how would you go find your 240 00:11:19,160 --> 00:11:21,800 Speaker 1: gold again? And so private keys to bitcoin are sort 241 00:11:21,800 --> 00:11:23,559 Speaker 1: of similar. You want to protect those private keys. You 242 00:11:23,600 --> 00:11:27,040 Speaker 1: don't want to lose them. But apparently Prime Trust just 243 00:11:27,520 --> 00:11:30,320 Speaker 1: lost their keys and all the bitcoin that they were 244 00:11:30,320 --> 00:11:34,640 Speaker 1: holding on behalf of clients and customers just disappeared. That's 245 00:11:34,640 --> 00:11:37,080 Speaker 1: what we're supposed to believe. And so because of that, 246 00:11:37,440 --> 00:11:40,720 Speaker 1: they've been insolvent for a few years now. But nobody 247 00:11:40,760 --> 00:11:42,800 Speaker 1: just knew that. Nobody called them out on that. Now. 248 00:11:43,240 --> 00:11:45,760 Speaker 1: They went through a management change in twenty twenty one. 249 00:11:46,240 --> 00:11:49,200 Speaker 1: The management change came in, they didn't really know what 250 00:11:49,240 --> 00:11:51,800 Speaker 1: the heck was going on. They lost access to some 251 00:11:51,840 --> 00:11:55,439 Speaker 1: of these old wallets, they lost the private keys, and 252 00:11:56,120 --> 00:11:57,440 Speaker 1: you know, of course, what do you do when you 253 00:11:57,520 --> 00:12:01,800 Speaker 1: lose all your client's money. Well, to them. You pretend 254 00:12:01,840 --> 00:12:04,800 Speaker 1: you didn't lose all your money, and then you try 255 00:12:04,920 --> 00:12:07,080 Speaker 1: to keep a lid on it while you try to 256 00:12:07,160 --> 00:12:10,440 Speaker 1: hopefully get that money back. Like a dgen gambler, if 257 00:12:10,480 --> 00:12:11,720 Speaker 1: I could just get a little bit more money, I 258 00:12:11,720 --> 00:12:13,480 Speaker 1: know I can make my money back, right, And they're 259 00:12:13,520 --> 00:12:15,959 Speaker 1: doing that and they're trying to get it back. Now, 260 00:12:16,000 --> 00:12:17,439 Speaker 1: how do they do that? Well, just like an E 261 00:12:17,520 --> 00:12:20,840 Speaker 1: degenerate gambler, you have to get more and more risky. 262 00:12:21,880 --> 00:12:24,079 Speaker 1: If you want to try to get those crazy returns, 263 00:12:24,080 --> 00:12:26,240 Speaker 1: you have to move more on the risk scale. But 264 00:12:26,280 --> 00:12:27,720 Speaker 1: the problem is you move more on the risk scale, 265 00:12:27,720 --> 00:12:30,680 Speaker 1: you're taking a more risk and you probably have bigger losses. 266 00:12:30,720 --> 00:12:35,360 Speaker 1: And that's exactly what happened. They used the remaining clients 267 00:12:35,400 --> 00:12:38,000 Speaker 1: as assets that they had to go try to make 268 00:12:38,040 --> 00:12:43,000 Speaker 1: that money back. They went and yolad, as we'd call it, 269 00:12:43,080 --> 00:12:45,960 Speaker 1: you only live once, or aped into a position. So 270 00:12:46,000 --> 00:12:48,120 Speaker 1: they'll just push it all on the table. I'm all 271 00:12:48,160 --> 00:12:49,760 Speaker 1: in like a poker game, or like bet it all 272 00:12:49,760 --> 00:12:52,040 Speaker 1: on red at the roulette table. And they went all 273 00:12:52,080 --> 00:12:55,800 Speaker 1: in like a Ponzi scheme, taking new client deposits in 274 00:12:56,240 --> 00:12:58,960 Speaker 1: to try to win back the money for the old clients, 275 00:12:59,040 --> 00:13:02,280 Speaker 1: or taking new deposits in to redeem funds for new clients. 276 00:13:03,360 --> 00:13:07,400 Speaker 1: Now that doesn't work good. They even went as far 277 00:13:08,080 --> 00:13:12,560 Speaker 1: as using some customer funds to give to FTX for 278 00:13:12,600 --> 00:13:17,880 Speaker 1: their political contributions. I mean, it's insane what they did, 279 00:13:19,200 --> 00:13:21,880 Speaker 1: and all in the name of trying to hide this, 280 00:13:22,440 --> 00:13:24,960 Speaker 1: you know. And on top of it, they had been 281 00:13:24,960 --> 00:13:29,400 Speaker 1: operating in Texas without a money transmitter license. So not 282 00:13:29,440 --> 00:13:32,520 Speaker 1: only did they do all these shady things, as you know, 283 00:13:32,640 --> 00:13:35,600 Speaker 1: Prime Trust, not only do all these shady things, they 284 00:13:35,600 --> 00:13:40,640 Speaker 1: were actually running an illegal operation, an unlicensed, illegal operation, 285 00:13:41,960 --> 00:13:45,720 Speaker 1: and so it's bad. They were buying some coin called 286 00:13:45,920 --> 00:13:48,800 Speaker 1: audio is what it looks like, trying to win their 287 00:13:48,840 --> 00:13:52,120 Speaker 1: money back. Let's take a look at that. They're audio 288 00:13:53,200 --> 00:13:58,040 Speaker 1: using some small obscure name. I see two of them 289 00:13:58,040 --> 00:14:01,760 Speaker 1: here Audio. But yeah, that thing was at thirty eight 290 00:14:01,880 --> 00:14:04,679 Speaker 1: cents just a couple of months ago, and now it's 291 00:14:04,679 --> 00:14:08,240 Speaker 1: at eighteen cents. That that didn't do you well, It 292 00:14:08,280 --> 00:14:10,240 Speaker 1: never does when you get behind like that, like an 293 00:14:10,280 --> 00:14:14,400 Speaker 1: agenerate gambler, it's probably going to be a losing proposition. Now, 294 00:14:14,679 --> 00:14:18,520 Speaker 1: what's even crazier news this week was FTX. Yes that 295 00:14:18,600 --> 00:14:21,800 Speaker 1: the FTX the FTX that stole about sixty billion dollars 296 00:14:21,800 --> 00:14:27,600 Speaker 1: Sam Bankuin free that exchange is thinking about restarting. They 297 00:14:27,600 --> 00:14:30,440 Speaker 1: want to open back up called FTX two point zero, 298 00:14:30,720 --> 00:14:35,160 Speaker 1: which is completely insane to me. I understand sometimes people 299 00:14:35,200 --> 00:14:38,520 Speaker 1: want to go back and revive like iconic brands and 300 00:14:38,560 --> 00:14:41,560 Speaker 1: give them another shot. I get that FTX is far 301 00:14:41,640 --> 00:14:46,200 Speaker 1: from an iconic brand. FTX is is the poster child 302 00:14:46,280 --> 00:14:49,640 Speaker 1: for stealing people's money. That is not a name that 303 00:14:49,640 --> 00:14:52,440 Speaker 1: you'd be one of associated with. And in the bankruptcy 304 00:14:52,440 --> 00:14:54,880 Speaker 1: proceedings that went through, it found out that they didn't 305 00:14:54,920 --> 00:14:58,360 Speaker 1: really have any technology. They All they had was a 306 00:14:59,680 --> 00:15:01,400 Speaker 1: I think like a spreadsheet maybe it was like a 307 00:15:01,400 --> 00:15:04,040 Speaker 1: Google sheet Ledger and one bank account. Like it was 308 00:15:04,200 --> 00:15:07,920 Speaker 1: the most archaic, simple organization that was there. So it's 309 00:15:07,960 --> 00:15:13,920 Speaker 1: not like they're resurrecting some cutting edge technology, some cutting 310 00:15:14,040 --> 00:15:17,720 Speaker 1: edge software systems or anything like that. Apparently per the 311 00:15:17,760 --> 00:15:21,760 Speaker 1: bankruptcy filings, they have none of that. So they don't 312 00:15:21,760 --> 00:15:23,480 Speaker 1: have a good name, they have no customer good will, 313 00:15:23,480 --> 00:15:26,120 Speaker 1: they have no brand or equity or loyalty, they have 314 00:15:26,200 --> 00:15:28,960 Speaker 1: no processes or systems, they have no technology. What do 315 00:15:29,000 --> 00:15:32,920 Speaker 1: they have? Oh? Man, I just don't understand that some 316 00:15:33,000 --> 00:15:37,200 Speaker 1: people are just out for I don't know, people like 317 00:15:37,200 --> 00:15:39,520 Speaker 1: banging in their head against the wall. I suppose you know. 318 00:15:39,560 --> 00:15:41,960 Speaker 1: In other news in the bitcoin cryptocurrency space, we're continuing 319 00:15:42,000 --> 00:15:45,960 Speaker 1: to see the screws getting tightened around the SEC chair, 320 00:15:46,040 --> 00:15:49,280 Speaker 1: Gary Gensler. He's the head of the SEC, as they 321 00:15:49,360 --> 00:15:54,680 Speaker 1: should be. Now. I have a little bit of conflicting 322 00:15:54,840 --> 00:15:57,360 Speaker 1: for myself, conflicting views on this in a sense where 323 00:15:57,360 --> 00:16:00,520 Speaker 1: it's like, I don't like the SEC. I'd like to 324 00:16:00,560 --> 00:16:05,000 Speaker 1: see the SEC shut down there. You know, supposed goal 325 00:16:05,080 --> 00:16:08,240 Speaker 1: of protecting consumers has not worked. All they do is 326 00:16:08,320 --> 00:16:12,080 Speaker 1: harm consumers more and more. They completely failed, over and 327 00:16:12,120 --> 00:16:14,720 Speaker 1: over and over, and they should shut down disgrace. I 328 00:16:14,760 --> 00:16:16,760 Speaker 1: don't need a government body to tell me what I 329 00:16:16,800 --> 00:16:18,840 Speaker 1: can and can't do with my money. If I want 330 00:16:18,840 --> 00:16:21,160 Speaker 1: to yolo into a position in Vegas or yolo into 331 00:16:21,200 --> 00:16:23,360 Speaker 1: a cryptocurrency, I should be allowed to do that. I 332 00:16:23,400 --> 00:16:24,800 Speaker 1: don't need them to tell me what I can and 333 00:16:24,800 --> 00:16:27,480 Speaker 1: can't do. I don't need them to protect me. That 334 00:16:27,560 --> 00:16:30,160 Speaker 1: being said, here they are. They're here, and so you 335 00:16:30,200 --> 00:16:33,040 Speaker 1: know we have to abide by them. But Gary Ginzar 336 00:16:33,040 --> 00:16:35,600 Speaker 1: has come under so much fire for his vicious and 337 00:16:35,640 --> 00:16:41,400 Speaker 1: aggressive attack on cryptocurrencies that now there's entire position petitions 338 00:16:41,440 --> 00:16:45,400 Speaker 1: going around of people asking for his resignation. There was 339 00:16:45,440 --> 00:16:47,240 Speaker 1: actually some news that came out this week that he 340 00:16:47,360 --> 00:16:50,000 Speaker 1: was going to resign, and so a lot of people 341 00:16:50,040 --> 00:16:52,320 Speaker 1: were expecting that, and then it looked like maybe that 342 00:16:52,480 --> 00:16:54,240 Speaker 1: got a little bit of ahead of itself. Maybe there's 343 00:16:54,240 --> 00:16:55,960 Speaker 1: a little bit more of a rumor than some truth. 344 00:16:56,360 --> 00:16:59,600 Speaker 1: So he's not quite resigning yet, but it's certainly looking 345 00:16:59,640 --> 00:17:03,040 Speaker 1: like it's getting close to that as he should. Like 346 00:17:03,080 --> 00:17:05,840 Speaker 1: I said, I'd like to see him shut down. If 347 00:17:05,880 --> 00:17:07,760 Speaker 1: you're just tune in, who are listening to the Mark 348 00:17:07,840 --> 00:17:10,000 Speaker 1: Maas Show, of course, talking through some of the latest 349 00:17:10,000 --> 00:17:11,800 Speaker 1: breaking news headlines, I want to talk more about what 350 00:17:11,920 --> 00:17:14,680 Speaker 1: happened this week in the Supreme Court in the United States. 351 00:17:14,760 --> 00:17:16,080 Speaker 1: We're also going to take a look at what's going 352 00:17:16,080 --> 00:17:18,479 Speaker 1: on with the economy and the Federal Reserve from their 353 00:17:18,560 --> 00:17:20,840 Speaker 1: last meeting minutes and what you can expect. I'll be 354 00:17:20,880 --> 00:17:22,600 Speaker 1: back with more on that in a minute. Don't go away, 355 00:17:22,640 --> 00:17:27,919 Speaker 1: I'll bear back, all right, Welcome back. If you're just 356 00:17:27,920 --> 00:17:30,040 Speaker 1: tune in, you're listening to the markmas Show. We're running 357 00:17:30,080 --> 00:17:32,120 Speaker 1: through some of the latest breaking news headlines this week, 358 00:17:32,160 --> 00:17:34,879 Speaker 1: so you can understand the play by play of this 359 00:17:34,920 --> 00:17:38,119 Speaker 1: decentralized revolution that we are moving into. And you know, 360 00:17:38,440 --> 00:17:40,640 Speaker 1: as I talk about right moving from this very centralized 361 00:17:40,680 --> 00:17:43,119 Speaker 1: world into this decentralized world. And it's one of the 362 00:17:43,119 --> 00:17:45,159 Speaker 1: things that I really see with these news headlines this 363 00:17:45,200 --> 00:17:47,959 Speaker 1: week where in the United States, the United States is 364 00:17:48,600 --> 00:17:52,080 Speaker 1: not a democracy. I know you're being told on the 365 00:17:52,119 --> 00:17:54,960 Speaker 1: news every single day, propaganda telling you is that to 366 00:17:54,960 --> 00:17:58,199 Speaker 1: a democracy, there to a democracy, that to democracy democracy. 367 00:17:59,119 --> 00:18:00,479 Speaker 1: If you grew up in the United States and went 368 00:18:00,480 --> 00:18:02,800 Speaker 1: to school, most likely you did the pledge of allegiance, 369 00:18:02,840 --> 00:18:05,160 Speaker 1: and you know if they're hand over your heart and 370 00:18:05,200 --> 00:18:08,800 Speaker 1: to the republic for which it stands, to the republic, 371 00:18:08,880 --> 00:18:11,639 Speaker 1: not the democracy, to the republic. The United States was 372 00:18:11,640 --> 00:18:14,920 Speaker 1: set up as a republic, sort of like the Roman Republic. 373 00:18:15,119 --> 00:18:16,920 Speaker 1: So you had the Roman Republic which went for about 374 00:18:16,920 --> 00:18:18,679 Speaker 1: five hundred years, and then the Roman Republic went to 375 00:18:18,720 --> 00:18:23,160 Speaker 1: the Empire. The Empire is when everything changed and everything 376 00:18:23,160 --> 00:18:25,639 Speaker 1: went downhill, and eventually Rome fell apart. The United States 377 00:18:25,640 --> 00:18:28,239 Speaker 1: was set up as a republic modeled after Greek and 378 00:18:28,440 --> 00:18:31,920 Speaker 1: Roman republics. And in a republic, you have what's known 379 00:18:31,960 --> 00:18:35,480 Speaker 1: as as a representative government. And the reason why that's 380 00:18:35,480 --> 00:18:41,760 Speaker 1: important is because the democracy is democracy is really tyranny 381 00:18:41,920 --> 00:18:45,960 Speaker 1: of the minority by the majority. So if there's ten 382 00:18:46,000 --> 00:18:49,160 Speaker 1: of us here and we're voting, and we go, hey, 383 00:18:49,600 --> 00:18:51,920 Speaker 1: you know, eight of us here think that you two 384 00:18:51,960 --> 00:18:53,800 Speaker 1: should give us more of your money. You guys have 385 00:18:53,840 --> 00:18:56,240 Speaker 1: too much money. So eight of us here think you 386 00:18:56,320 --> 00:19:01,120 Speaker 1: two should give us some more of your money. That's democracy. Democracy, 387 00:19:01,880 --> 00:19:05,040 Speaker 1: and so you can't have the minority. You can't have 388 00:19:05,080 --> 00:19:07,199 Speaker 1: tyranny of the minority by the majority. And so a 389 00:19:07,280 --> 00:19:11,520 Speaker 1: representative government is meant to alleviate that. And part of 390 00:19:11,560 --> 00:19:15,240 Speaker 1: having that representative government is by having three branches of government. 391 00:19:15,600 --> 00:19:18,880 Speaker 1: So we have the legislative, the judicial, and the executive 392 00:19:18,880 --> 00:19:21,960 Speaker 1: branches of government, and so none of those branches have 393 00:19:22,040 --> 00:19:26,480 Speaker 1: full power and it creates checks and balances. All right. Now, 394 00:19:26,520 --> 00:19:29,440 Speaker 1: It's happened is over a period of time, the federal 395 00:19:29,480 --> 00:19:31,520 Speaker 1: government has continued to try to get bigger and bigger 396 00:19:31,520 --> 00:19:33,320 Speaker 1: and bigger and bigger and bigger, and basically take over 397 00:19:33,359 --> 00:19:37,000 Speaker 1: every aspect of our lives. This is not how the 398 00:19:37,119 --> 00:19:39,640 Speaker 1: United States was set up. This is not what was 399 00:19:39,680 --> 00:19:43,040 Speaker 1: meant to happen and the Constitution. The Constitution is not 400 00:19:43,080 --> 00:19:44,840 Speaker 1: a set of laws. The Constitution is a set of 401 00:19:44,880 --> 00:19:48,639 Speaker 1: restrictions on the government itself of what they can and 402 00:19:48,680 --> 00:19:53,360 Speaker 1: can't do. Now, you've also been told by your Columbia 403 00:19:53,440 --> 00:19:57,040 Speaker 1: law professors that the Constitution was meant to be a 404 00:19:57,080 --> 00:20:01,000 Speaker 1: living breathing document. It was meant to be updated and changed. No, 405 00:20:01,480 --> 00:20:04,320 Speaker 1: that's false. That's another argument that they put in place 406 00:20:04,520 --> 00:20:06,880 Speaker 1: so they can win. So what happens is whenever you're 407 00:20:06,920 --> 00:20:08,639 Speaker 1: trying to win an argument, if if you're going to 408 00:20:08,720 --> 00:20:11,280 Speaker 1: debate something like that, a couple of techniques you would use, 409 00:20:11,359 --> 00:20:14,280 Speaker 1: maybe like an anchoring or a window where you try 410 00:20:14,320 --> 00:20:17,680 Speaker 1: to move the argument into something that could be defeated. 411 00:20:18,160 --> 00:20:19,400 Speaker 1: And so that's what they're trying to do. They try 412 00:20:19,440 --> 00:20:21,480 Speaker 1: to move these things. Well, I guess if it was 413 00:20:21,520 --> 00:20:24,199 Speaker 1: meant to be a living breathing document and change, then 414 00:20:24,240 --> 00:20:26,760 Speaker 1: I guess we should change it. No, the founding fathers 415 00:20:26,840 --> 00:20:29,800 Speaker 1: knew that the government would grow and we would end 416 00:20:29,880 --> 00:20:32,240 Speaker 1: up in the same place as the government in Britain 417 00:20:32,240 --> 00:20:35,080 Speaker 1: that they tried to get away from. Now, why is 418 00:20:35,080 --> 00:20:37,720 Speaker 1: this important? Well, latest breaking news the headline this week 419 00:20:37,760 --> 00:20:41,240 Speaker 1: of the Supreme Court ruling on some more cases that 420 00:20:41,359 --> 00:20:45,560 Speaker 1: set the world into a tailspin. Now from my viewpoint 421 00:20:45,640 --> 00:20:48,520 Speaker 1: and lens, and feel free to disagree with me. And 422 00:20:48,560 --> 00:20:50,360 Speaker 1: if you do disagree with me, I'd love to hear 423 00:20:50,400 --> 00:20:52,400 Speaker 1: from you, So hit me up on social media, on 424 00:20:52,440 --> 00:20:55,439 Speaker 1: Twitter or on Instagram at one Mark Moss, let me 425 00:20:55,440 --> 00:20:56,520 Speaker 1: know you listen to the show and let me know 426 00:20:56,520 --> 00:21:00,640 Speaker 1: if you disagree, let's talk about it. But the Supreme 427 00:21:00,680 --> 00:21:05,800 Speaker 1: Court has been basically getting rid of federal powers and 428 00:21:05,880 --> 00:21:09,880 Speaker 1: moving powers back down to the states, which in my opinion, 429 00:21:09,960 --> 00:21:12,760 Speaker 1: is a good thing. Now we can argue. But now 430 00:21:12,760 --> 00:21:14,840 Speaker 1: the states shouldn't be allowed to decide on that. Well, 431 00:21:14,840 --> 00:21:17,840 Speaker 1: that's a different argument, right, that's a different argument. This 432 00:21:17,880 --> 00:21:20,480 Speaker 1: is an argument about whether things should be federal or not. 433 00:21:20,680 --> 00:21:23,240 Speaker 1: And so two big things that happened this week. One 434 00:21:23,880 --> 00:21:26,199 Speaker 1: they struck down the student loan forgiveness. They said that 435 00:21:26,200 --> 00:21:29,720 Speaker 1: that is unconstitutional. Now I can understand your side of 436 00:21:29,760 --> 00:21:32,480 Speaker 1: the argument. In a debate, the goal is to understand 437 00:21:32,520 --> 00:21:35,560 Speaker 1: your opponent's argument better than them. I can understand the 438 00:21:35,680 --> 00:21:39,440 Speaker 1: argument student loans are predatory, student loans are holding back 439 00:21:39,480 --> 00:21:43,320 Speaker 1: the economy. Student loans help people that don't have money. 440 00:21:43,400 --> 00:21:46,439 Speaker 1: I get all of that, I understand it. But the 441 00:21:46,440 --> 00:21:49,360 Speaker 1: Supreme Court wasn't asking if it was a Their goal 442 00:21:49,400 --> 00:21:51,480 Speaker 1: wasn't to tell you if it was a good program, 443 00:21:51,760 --> 00:21:54,000 Speaker 1: if they liked the program. It wasn't a vote if 444 00:21:54,000 --> 00:21:57,240 Speaker 1: the public want the program. All they were clearly doing 445 00:21:57,359 --> 00:22:01,959 Speaker 1: was looking at the law and does the constitution allow 446 00:22:02,040 --> 00:22:06,200 Speaker 1: for that, And the answer is no, it's unconstitutional. Nowhere 447 00:22:06,240 --> 00:22:08,879 Speaker 1: in the Constitution does it say that we should take 448 00:22:08,920 --> 00:22:11,359 Speaker 1: a protected group of people, take away all their debts 449 00:22:11,440 --> 00:22:14,280 Speaker 1: and then distribute that out to the tax space. Nowhere 450 00:22:14,320 --> 00:22:18,440 Speaker 1: does it say that me, I didn't go to college, 451 00:22:18,480 --> 00:22:21,640 Speaker 1: I don't have student loan debt. I don't want to 452 00:22:21,680 --> 00:22:25,359 Speaker 1: pay your debt, and so that would be unconstitutional to 453 00:22:25,520 --> 00:22:28,520 Speaker 1: saddle me with that debt. I didn't take on that debt. 454 00:22:28,720 --> 00:22:31,320 Speaker 1: So nowhere in the Constitution does it say that should 455 00:22:31,359 --> 00:22:33,840 Speaker 1: be done. Now, if we want to create new laws 456 00:22:33,880 --> 00:22:36,960 Speaker 1: or new rules where we you know, like a social 457 00:22:36,960 --> 00:22:39,640 Speaker 1: Security fund where we paying the college fund and low 458 00:22:39,640 --> 00:22:42,040 Speaker 1: income kids can then apply for these grants, which by 459 00:22:42,080 --> 00:22:44,679 Speaker 1: the way, we already have lots of. But if we 460 00:22:44,680 --> 00:22:46,879 Speaker 1: want to have more of that, Okay, that's a different conversation, 461 00:22:47,280 --> 00:22:49,639 Speaker 1: that's a different bill. That's a different vote. This was 462 00:22:49,720 --> 00:22:53,160 Speaker 1: just simply is it constitutional, yes or no. The other 463 00:22:53,200 --> 00:22:57,920 Speaker 1: one was affirmative action that lit people up. I thought 464 00:22:57,960 --> 00:23:01,560 Speaker 1: the argument around that was pretty interest. It's pretty hard 465 00:23:01,640 --> 00:23:06,760 Speaker 1: to argue for things like affirmative action without making them 466 00:23:06,800 --> 00:23:13,359 Speaker 1: look really really bad. So it's almost like, so these 467 00:23:13,600 --> 00:23:18,840 Speaker 1: minority groups can't get ahead unless they're given uneven playing field. 468 00:23:19,160 --> 00:23:22,240 Speaker 1: Is that what you're saying, Because there's lots of minority 469 00:23:22,280 --> 00:23:24,400 Speaker 1: groups that would disagree with that. There's lots of minor 470 00:23:24,400 --> 00:23:27,960 Speaker 1: groups that really resent being painted as a victim. How 471 00:23:27,960 --> 00:23:30,439 Speaker 1: many there's a saying It says, give a kid a 472 00:23:30,480 --> 00:23:33,760 Speaker 1: bad name and he will be And so what does 473 00:23:33,760 --> 00:23:36,200 Speaker 1: that mean? That means that, as humans, one of the 474 00:23:36,280 --> 00:23:38,600 Speaker 1: character traits that makes us humans is that we speak 475 00:23:38,640 --> 00:23:41,720 Speaker 1: things into existence, which is why it's so important to 476 00:23:41,720 --> 00:23:44,760 Speaker 1: control your self talk and your own speech. Is why 477 00:23:44,800 --> 00:23:47,959 Speaker 1: things like affirmations are important because as humans, we can 478 00:23:48,119 --> 00:23:53,800 Speaker 1: speak things into existence. And there's been numerous tests that 479 00:23:53,880 --> 00:23:57,240 Speaker 1: have been done where teachers will tell their kid, hey, boy, 480 00:23:57,240 --> 00:23:58,800 Speaker 1: I can tell how smart you are. Man, I can't 481 00:23:58,840 --> 00:24:00,240 Speaker 1: wait to teach you this year. You're gonna be so 482 00:24:00,320 --> 00:24:03,040 Speaker 1: amazing and the kids will do really, really well or 483 00:24:03,080 --> 00:24:05,360 Speaker 1: the teacher will say like, oh, well, you're gonna really struggle. 484 00:24:05,560 --> 00:24:07,160 Speaker 1: Don't worry. I know you're gonna have a hard time. 485 00:24:07,160 --> 00:24:08,640 Speaker 1: I will help you. And then the kids do really, 486 00:24:08,680 --> 00:24:12,080 Speaker 1: really bad. So you can speak that into existence. People 487 00:24:12,119 --> 00:24:14,800 Speaker 1: will rise up to the challenge, and so lots of 488 00:24:14,920 --> 00:24:18,760 Speaker 1: minority groups are unhappy by being told you're a victim. 489 00:24:19,000 --> 00:24:22,119 Speaker 1: You can't get ahead unless we give you this unfair advantage. 490 00:24:22,200 --> 00:24:25,080 Speaker 1: We had Michelle and Barack Obama on their five hundred 491 00:24:25,080 --> 00:24:29,199 Speaker 1: million dollar yacht in the Mediterranean tweeting about how unfair 492 00:24:29,240 --> 00:24:31,280 Speaker 1: it is how black people can never get ahead if 493 00:24:31,280 --> 00:24:33,240 Speaker 1: they don't have something like this. Meanwhile, they're on a 494 00:24:33,280 --> 00:24:35,440 Speaker 1: five hundred million dollar yacht. I don't have one of those? 495 00:24:35,600 --> 00:24:38,000 Speaker 1: Do you have one of those? I also saw it 496 00:24:38,040 --> 00:24:42,040 Speaker 1: similar to in the whole situation with the voting, that 497 00:24:42,760 --> 00:24:48,320 Speaker 1: by requiring an ID, that's racist because somehow minority groups 498 00:24:48,560 --> 00:24:53,320 Speaker 1: don't know how to get an ID. That statement is racist. 499 00:24:53,480 --> 00:24:56,240 Speaker 1: So they're so dumb that they can't figure out how 500 00:24:56,240 --> 00:24:59,040 Speaker 1: to get an ID. That's your argument, Like, I mean, 501 00:24:59,080 --> 00:25:03,440 Speaker 1: this is ridiculous. Really can't argue for this without looking 502 00:25:03,480 --> 00:25:07,240 Speaker 1: that way. In my opinion, I don't think that people, 503 00:25:07,280 --> 00:25:09,480 Speaker 1: any minority group is so stupid they can't get an ID. 504 00:25:09,680 --> 00:25:12,720 Speaker 1: I don't think that, and it certainly doesn't matter. You 505 00:25:12,760 --> 00:25:17,520 Speaker 1: can't get a bank account without an ID. Is that racist? Right? 506 00:25:17,560 --> 00:25:20,480 Speaker 1: And so it's it's used in those places. But again 507 00:25:20,600 --> 00:25:21,879 Speaker 1: kind of back to the way I see it in 508 00:25:21,920 --> 00:25:25,359 Speaker 1: these in these two different things with affirmative action and 509 00:25:25,480 --> 00:25:29,679 Speaker 1: student loan recovery, it's really just coming down to the law. 510 00:25:29,720 --> 00:25:32,840 Speaker 1: Does the law does the constitution allow for these things 511 00:25:32,840 --> 00:25:35,920 Speaker 1: to happen? And know, in the Declaration of Independence, as 512 00:25:36,000 --> 00:25:39,760 Speaker 1: all men are created equal and of course ben and 513 00:25:39,800 --> 00:25:43,760 Speaker 1: women all people as as a Jesus follower, I believe 514 00:25:43,760 --> 00:25:46,679 Speaker 1: that all you know, we're all made in the image 515 00:25:46,680 --> 00:25:49,399 Speaker 1: of God. We're all equal from that standpoint, and so 516 00:25:49,480 --> 00:25:51,480 Speaker 1: we don't need and basically with the supreme course that is, 517 00:25:51,520 --> 00:25:56,440 Speaker 1: you can't you can't move one group ahead without discriminating 518 00:25:56,440 --> 00:25:58,880 Speaker 1: against the other. And that's the problem, that's the conundrum 519 00:25:58,920 --> 00:26:02,480 Speaker 1: that we're in now. I'm all for doing everything that 520 00:26:02,480 --> 00:26:06,280 Speaker 1: we can to help everybody out, but again, not by 521 00:26:06,359 --> 00:26:11,600 Speaker 1: discriminating against one source or another. So another signpost again 522 00:26:11,760 --> 00:26:15,960 Speaker 1: of the centralization of the federal government breaking apart, moving 523 00:26:16,040 --> 00:26:19,960 Speaker 1: power back to the decentralized nature of the independent states 524 00:26:20,000 --> 00:26:23,159 Speaker 1: of the Republic, and in my opinion, of course, I 525 00:26:23,200 --> 00:26:26,239 Speaker 1: talk about the decentralized revolution. This is the trend that 526 00:26:26,320 --> 00:26:29,120 Speaker 1: continues to follow down. If you're tuned in, you're listening 527 00:26:29,160 --> 00:26:31,920 Speaker 1: to the Mark mas Show talking about the latest breaking 528 00:26:31,960 --> 00:26:34,879 Speaker 1: news headlines that are the signposts that show us this 529 00:26:34,960 --> 00:26:38,960 Speaker 1: decentralized revolution is in full swing. I gotta take a 530 00:26:39,000 --> 00:26:40,239 Speaker 1: quick break. When I come back, I want to talk 531 00:26:40,280 --> 00:26:42,480 Speaker 1: about what is going on in the economy, what's happening 532 00:26:42,520 --> 00:26:45,440 Speaker 1: with the job market. It is crazy. Talk about what's 533 00:26:45,440 --> 00:26:47,280 Speaker 1: going on with the stock market going to new highs, 534 00:26:47,520 --> 00:26:49,679 Speaker 1: while at the same time the Federal Reserve seems to 535 00:26:49,720 --> 00:26:52,040 Speaker 1: be stuck on what they're doing. So I'll tell you 536 00:26:52,040 --> 00:26:53,960 Speaker 1: what to expect next. Coming out of that, I'm gonna 537 00:26:54,000 --> 00:26:55,600 Speaker 1: take a quick break. I'm gonna go wait just for 538 00:26:55,680 --> 00:27:02,679 Speaker 1: a minute, don't go away. I'll be right back. All right, 539 00:27:02,680 --> 00:27:04,239 Speaker 1: Welcome back. If you're just tuning in, you're listening to 540 00:27:04,280 --> 00:27:06,760 Speaker 1: the Mark Moss Show. We're running through some of the 541 00:27:06,880 --> 00:27:09,880 Speaker 1: latest breaking news headlines this week so you can understand 542 00:27:09,920 --> 00:27:12,720 Speaker 1: what the heck is going on in this decentralized economy. 543 00:27:12,760 --> 00:27:14,720 Speaker 1: So you can see how the world is changing now. 544 00:27:14,760 --> 00:27:17,440 Speaker 1: If you've missed any of it, don't worry. I got 545 00:27:17,480 --> 00:27:19,440 Speaker 1: your back. You can check me out on the podcast. 546 00:27:19,480 --> 00:27:21,280 Speaker 1: Just go to your favorite podcast player and just search 547 00:27:21,600 --> 00:27:24,040 Speaker 1: Mark Moss The Mark Moss Show. You'll find me there. 548 00:27:24,840 --> 00:27:27,240 Speaker 1: And if I could, if I've earned enough goodwill, please, 549 00:27:27,280 --> 00:27:29,359 Speaker 1: I could ask one small favor. When you go to 550 00:27:29,400 --> 00:27:31,480 Speaker 1: your podcast app, would you just leave me a review? 551 00:27:31,640 --> 00:27:34,240 Speaker 1: Click me a couple stars, give me a review, preferably 552 00:27:34,400 --> 00:27:38,000 Speaker 1: a good review. If you like it, I would appreciate that. 553 00:27:38,000 --> 00:27:40,040 Speaker 1: That really helped me out. It's my one small ask 554 00:27:40,119 --> 00:27:42,240 Speaker 1: for you. But you know, when we look at these 555 00:27:42,720 --> 00:27:46,120 Speaker 1: news headlines breaking every week, it really helps us understand 556 00:27:46,119 --> 00:27:47,800 Speaker 1: the direction that we're going on. And that's what we're 557 00:27:47,800 --> 00:27:50,359 Speaker 1: trying to figure out. The direction. We don't need to 558 00:27:50,359 --> 00:27:52,879 Speaker 1: figure out what's going to happen next month or in 559 00:27:52,920 --> 00:27:55,480 Speaker 1: the next quarter, but really what's the direction that we're heading. 560 00:27:56,520 --> 00:27:58,000 Speaker 1: You know, some of the things that we saw this 561 00:27:58,040 --> 00:28:01,359 Speaker 1: week were that the Federal Reserve had another big meeting, 562 00:28:01,440 --> 00:28:06,080 Speaker 1: The FOMC meeting happened, and of course the Federal Reserve 563 00:28:06,119 --> 00:28:09,080 Speaker 1: has been on the warpath that we've seen the highest 564 00:28:09,119 --> 00:28:13,640 Speaker 1: and fastest rate hiking in I believe history, at least 565 00:28:13,640 --> 00:28:16,919 Speaker 1: in fifty years, basically going from like a zero percent 566 00:28:17,080 --> 00:28:20,440 Speaker 1: Fed funds rate is price of money to well over 567 00:28:20,520 --> 00:28:24,080 Speaker 1: five percent, so fast that we haven't even had a 568 00:28:24,200 --> 00:28:27,359 Speaker 1: chance to really absorb all those changes into the economy. 569 00:28:27,600 --> 00:28:29,840 Speaker 1: We know it typically takes between twelve to eighteen months 570 00:28:29,920 --> 00:28:32,840 Speaker 1: to really feel to really notice the effects of those 571 00:28:32,920 --> 00:28:36,280 Speaker 1: rate increases. And here we are just past the year. 572 00:28:36,320 --> 00:28:39,960 Speaker 1: We're probably thirteen fourteen months in, so we're just now 573 00:28:40,440 --> 00:28:44,240 Speaker 1: about to start seeing all the changes. And so the 574 00:28:44,320 --> 00:28:47,840 Speaker 1: question is has the Fed done enough? Well, we know finally, 575 00:28:48,120 --> 00:28:50,120 Speaker 1: I believe the first time, I believe it was fourteen 576 00:28:50,160 --> 00:28:55,480 Speaker 1: months the Fed paused their rate hikes. So they were hiking, 577 00:28:55,520 --> 00:28:59,520 Speaker 1: they were increasing the price of money, and now they've paused. 578 00:28:59,560 --> 00:29:01,920 Speaker 1: Now a lot of people were hoping for a pivot. 579 00:29:01,960 --> 00:29:05,200 Speaker 1: A pivot, in my opinion, would be instead of hiking, 580 00:29:05,360 --> 00:29:08,280 Speaker 1: they're lowering, right, it would be reversing course. A pause 581 00:29:08,360 --> 00:29:10,440 Speaker 1: isn't really that, And of course the Fed didn't want 582 00:29:10,440 --> 00:29:12,840 Speaker 1: to call it a pause. They called it a skip. 583 00:29:13,520 --> 00:29:17,040 Speaker 1: They said, well, we're not pivoting, and we're not even 584 00:29:17,080 --> 00:29:19,760 Speaker 1: technically pausing. What we're doing is we're just going to 585 00:29:19,960 --> 00:29:23,040 Speaker 1: skip a meeting. We're going to see what's happened, which 586 00:29:23,480 --> 00:29:26,680 Speaker 1: you know, I think sounds like a good idea. They've 587 00:29:26,720 --> 00:29:29,000 Speaker 1: gone so fast and so aggressive, they should probably wait 588 00:29:29,040 --> 00:29:32,080 Speaker 1: and see if the economy, if the markets can absorb 589 00:29:32,120 --> 00:29:38,720 Speaker 1: these changes. But history shows us. I believe there's never 590 00:29:38,880 --> 00:29:42,920 Speaker 1: been an instance in history where the Fed has paused 591 00:29:43,120 --> 00:29:46,640 Speaker 1: and then gone back to hiking again. It's never happened. 592 00:29:46,680 --> 00:29:48,680 Speaker 1: Now doesn't mean it can't. There's a first for everything, 593 00:29:49,040 --> 00:29:52,600 Speaker 1: and we certainly could see that. But right now, latest 594 00:29:52,600 --> 00:29:55,720 Speaker 1: projections indicate that the FOMC members expect the FED funds 595 00:29:55,800 --> 00:29:59,800 Speaker 1: rate to reach five point six percent by the year 596 00:29:59,840 --> 00:30:05,280 Speaker 1: in which would suggest that there's maybe two more twenty 597 00:30:05,280 --> 00:30:08,720 Speaker 1: five basis point hikes this year. Now we don't know this. Obviously, 598 00:30:09,280 --> 00:30:12,000 Speaker 1: nobody knows the future. I don't even think Jerome Powell, 599 00:30:12,040 --> 00:30:14,280 Speaker 1: head of the FED, knows either. Right he's kind of 600 00:30:14,320 --> 00:30:17,320 Speaker 1: just every day taking the information and that's coming along 601 00:30:17,800 --> 00:30:21,920 Speaker 1: and making the best choices that he can. I guess 602 00:30:22,120 --> 00:30:24,240 Speaker 1: I've been very hard on Jerome Powell. I think he's 603 00:30:24,280 --> 00:30:27,160 Speaker 1: an idiot. I think he has no idea what he's doing. 604 00:30:28,000 --> 00:30:30,360 Speaker 1: But I don't think anybody would have an idea of 605 00:30:30,360 --> 00:30:32,600 Speaker 1: what they're doing in that position. So what do I mean. 606 00:30:32,640 --> 00:30:35,720 Speaker 1: I think anybody who thinks they can control an entire 607 00:30:35,960 --> 00:30:39,520 Speaker 1: global market and economy by adjusting the price of money 608 00:30:39,680 --> 00:30:43,600 Speaker 1: is an idiot. Anybody that would try to do that 609 00:30:44,280 --> 00:30:47,680 Speaker 1: would be misinformed. So while I'm harsh on Jerome Pow, 610 00:30:47,720 --> 00:30:50,320 Speaker 1: would be harsh on anybody because it's a losing it's 611 00:30:50,320 --> 00:30:55,160 Speaker 1: a losing proposition is not going to work, So I'd 612 00:30:55,200 --> 00:30:56,600 Speaker 1: say that. But you know, one thing that we know 613 00:30:56,680 --> 00:31:00,760 Speaker 1: is that when the FED pauses again, back to historics, historically, 614 00:31:00,840 --> 00:31:05,000 Speaker 1: when they pivot, it's been very bad for stocks. Typically 615 00:31:05,040 --> 00:31:10,000 Speaker 1: stocks go down. However, historically when they pause, things have 616 00:31:10,160 --> 00:31:13,200 Speaker 1: done well. And so here we are in this pause 617 00:31:13,360 --> 00:31:15,840 Speaker 1: or this skip as they call it, and we can 618 00:31:15,880 --> 00:31:18,239 Speaker 1: see that the stocks have logged one of their one 619 00:31:18,320 --> 00:31:22,760 Speaker 1: of the best first halves ever this year. So here 620 00:31:22,840 --> 00:31:24,760 Speaker 1: we are about halfway through the year. We know that 621 00:31:24,800 --> 00:31:28,200 Speaker 1: twenty twenty two was the worst year for stocks and 622 00:31:28,240 --> 00:31:32,480 Speaker 1: bonds in over fifty years, the worst in over fifty years, 623 00:31:32,680 --> 00:31:36,680 Speaker 1: and yet here we have twenty twenty three with one 624 00:31:36,680 --> 00:31:39,840 Speaker 1: of the best first halves ever, which is pretty amazing. 625 00:31:39,960 --> 00:31:44,160 Speaker 1: Up thirty nine. What was it the Nasdaq one hundred 626 00:31:44,560 --> 00:31:51,840 Speaker 1: rows thirty nine percent, which is pretty amazing. Looks like 627 00:31:51,880 --> 00:31:55,000 Speaker 1: a lot of the commodities have done very well. Natural 628 00:31:55,040 --> 00:31:56,920 Speaker 1: gas has done very well. Of course, the tech stocks 629 00:31:56,920 --> 00:31:58,959 Speaker 1: have done very well, most of those bolstered by the 630 00:31:59,000 --> 00:32:02,200 Speaker 1: AI revolution, and you know, the top seven stocks and 631 00:32:02,240 --> 00:32:04,440 Speaker 1: the S and P five hundred really were the ones 632 00:32:04,440 --> 00:32:09,120 Speaker 1: that had exposure to the to the AI push. We 633 00:32:09,120 --> 00:32:11,680 Speaker 1: can see that the indexes were strength were strengthened up 634 00:32:11,760 --> 00:32:15,480 Speaker 1: in the megacap tech stocks Apple, which hit a three 635 00:32:15,840 --> 00:32:18,520 Speaker 1: trillion market cap milestone on the last day of trading, 636 00:32:18,520 --> 00:32:22,080 Speaker 1: which is just absolutely amazing. Of course, you know three 637 00:32:22,080 --> 00:32:23,920 Speaker 1: trillion eight when it used to be so to speak. 638 00:32:24,160 --> 00:32:25,480 Speaker 1: You know, one of the things that the FED looks 639 00:32:25,480 --> 00:32:27,840 Speaker 1: at is not the market. I don't think the FED 640 00:32:27,920 --> 00:32:30,080 Speaker 1: really cares about what's happening in the markets. They do 641 00:32:30,120 --> 00:32:31,959 Speaker 1: care about what's happening in the credit markets. They want 642 00:32:32,000 --> 00:32:34,320 Speaker 1: to make sure the quid's there. They also look at 643 00:32:34,640 --> 00:32:37,680 Speaker 1: the markets that make up inflation, and one of those 644 00:32:37,680 --> 00:32:40,720 Speaker 1: biggest market, the biggest markets that really pushes inflation is 645 00:32:40,760 --> 00:32:44,760 Speaker 1: the job market, which is why what the FED really 646 00:32:44,760 --> 00:32:46,600 Speaker 1: wants to do by raising rates so fast as they're 647 00:32:46,600 --> 00:32:49,280 Speaker 1: trying to crush demand. They want people to go broke, 648 00:32:49,440 --> 00:32:51,040 Speaker 1: so you don't have any money to go buy assets. 649 00:32:51,040 --> 00:32:53,280 Speaker 1: If you don't have any money to go buy plane 650 00:32:53,320 --> 00:32:56,480 Speaker 1: tickets or gas for your car or food, guess what happens. Yeah, 651 00:32:56,520 --> 00:32:59,120 Speaker 1: the prices come down. Now. Part of what they want 652 00:32:59,160 --> 00:33:02,240 Speaker 1: to do is they want the unemployment number to go up. 653 00:33:02,520 --> 00:33:05,920 Speaker 1: They want more people to be unemployed, which is just 654 00:33:06,280 --> 00:33:09,239 Speaker 1: an insane thing to think about from that perspective. So 655 00:33:09,280 --> 00:33:12,239 Speaker 1: what they really want, they're objectives. They want you to 656 00:33:12,320 --> 00:33:15,960 Speaker 1: lose your job, they want your wages to go down. 657 00:33:16,320 --> 00:33:18,959 Speaker 1: They want you to be broke so you don't continue 658 00:33:18,960 --> 00:33:20,840 Speaker 1: to buy so much stuff. That's what they want. And 659 00:33:20,880 --> 00:33:22,360 Speaker 1: this is not a hidden thing. This is not a 660 00:33:22,360 --> 00:33:26,040 Speaker 1: controversial thing. They've been grilled. Jerome Powell has been grilled 661 00:33:26,160 --> 00:33:29,440 Speaker 1: in front of congressional committees by even people I don't 662 00:33:29,480 --> 00:33:33,760 Speaker 1: typically agree with, like Senator Senator Elizabeth Warren stating, Jerome Powell, 663 00:33:33,920 --> 00:33:36,160 Speaker 1: you realize you want millions of people to go out 664 00:33:36,160 --> 00:33:38,720 Speaker 1: of work, don't you. Yes, I understand that. What are 665 00:33:38,720 --> 00:33:41,560 Speaker 1: you going to tell those people? You know, we saw 666 00:33:42,040 --> 00:33:45,240 Speaker 1: Senator Kennedy, who I love, Uh, he's grilled Jome pal. 667 00:33:45,560 --> 00:33:48,400 Speaker 1: Many times people have grilled JOm Powell over this. Your 668 00:33:48,480 --> 00:33:52,200 Speaker 1: goal is to bring unemployment up, Yes it is, and 669 00:33:52,240 --> 00:33:54,000 Speaker 1: you know those millions of people are real people that 670 00:33:54,080 --> 00:33:56,520 Speaker 1: have families and they can't afford to pay for their 671 00:33:56,520 --> 00:33:58,960 Speaker 1: family to more. You understand that, right, Yes, I understand that. Right. 672 00:33:59,440 --> 00:34:04,360 Speaker 1: I mean and saying, however, the labor market isn't really budging. 673 00:34:04,440 --> 00:34:06,960 Speaker 1: It's been a problem for Drone Powell. We see in 674 00:34:07,000 --> 00:34:09,960 Speaker 1: April the Department of Labor reported five point seven million 675 00:34:10,080 --> 00:34:14,959 Speaker 1: unemployed job seekers and ten point one million job openings. Right, 676 00:34:15,280 --> 00:34:18,200 Speaker 1: so we have more openings than we have job seekers 677 00:34:18,320 --> 00:34:22,360 Speaker 1: two for one. The shortage is helping pump wages, especially 678 00:34:22,400 --> 00:34:26,280 Speaker 1: for teens, whose median weekly summer pay rows seven percent 679 00:34:26,560 --> 00:34:29,400 Speaker 1: between twenty nineteen and twenty twenty two, more than any 680 00:34:29,440 --> 00:34:34,080 Speaker 1: other age group. So we have two jobs for every 681 00:34:34,160 --> 00:34:37,319 Speaker 1: one applicant. Now, what happens, Remember economics is simple, It's 682 00:34:37,320 --> 00:34:40,800 Speaker 1: broken down by supply and demand. If you have more 683 00:34:41,200 --> 00:34:44,600 Speaker 1: employers competing for less workers, what happens They have to 684 00:34:44,719 --> 00:34:48,520 Speaker 1: pay them more, prices rise. That's exactly what the Fed 685 00:34:48,560 --> 00:34:51,840 Speaker 1: doesn't want to happen. They wanted to go down. We 686 00:34:51,880 --> 00:34:53,759 Speaker 1: can see in May thirty six point eight percent of 687 00:34:53,840 --> 00:34:56,120 Speaker 1: US teams were working or seeking work, up from a 688 00:34:56,120 --> 00:34:58,720 Speaker 1: pre pandemic love of thirty two percent. So more people 689 00:34:58,760 --> 00:35:03,160 Speaker 1: were looking for work, but it's far from consistent from 690 00:35:03,160 --> 00:35:06,280 Speaker 1: the consistent fifty percent plus seen up until two thousand 691 00:35:06,320 --> 00:35:09,600 Speaker 1: and one. So even though more teams are looking for 692 00:35:09,680 --> 00:35:12,520 Speaker 1: work now than they were a few years ago, what 693 00:35:12,560 --> 00:35:14,440 Speaker 1: we can see is it's still way less than the 694 00:35:14,440 --> 00:35:16,680 Speaker 1: fifty percent that it used to be. And so really 695 00:35:16,719 --> 00:35:19,760 Speaker 1: the number isn't just the unemployed, is really the market 696 00:35:19,800 --> 00:35:25,359 Speaker 1: participation rate. So unemployment only measures the people who are 697 00:35:25,400 --> 00:35:28,479 Speaker 1: looking for work, but the people who stop looking for work, 698 00:35:28,560 --> 00:35:30,560 Speaker 1: they don't measure that anymore. So what you really want 699 00:35:30,560 --> 00:35:33,359 Speaker 1: to look at is the labor participant participation rate, how 700 00:35:33,400 --> 00:35:38,439 Speaker 1: many people working age are actually working. And what we've seen, 701 00:35:38,520 --> 00:35:42,200 Speaker 1: even though unemployment looks low because most people have given 702 00:35:42,280 --> 00:35:46,600 Speaker 1: up looking for jobs, the labor participation rate is like 703 00:35:46,640 --> 00:35:52,400 Speaker 1: an all time low's very very very low. We can see, 704 00:35:53,760 --> 00:35:55,880 Speaker 1: you know. I can tell you just from having my 705 00:35:55,920 --> 00:36:00,200 Speaker 1: own team daughter. I'm astounded by how much money she's making. 706 00:36:02,040 --> 00:36:04,200 Speaker 1: And then I have to think, well, dang, how much 707 00:36:04,200 --> 00:36:05,840 Speaker 1: do I have to pay people to come work for me. 708 00:36:06,080 --> 00:36:08,319 Speaker 1: I mean, it's really driven the bar up pretty high. 709 00:36:08,360 --> 00:36:10,799 Speaker 1: It's been pretty amazing. If you just tune in, you 710 00:36:10,840 --> 00:36:14,239 Speaker 1: are listening to The Mark Mas Show. We've been running 711 00:36:14,280 --> 00:36:16,480 Speaker 1: through some of the latest breaking news headlines this week, 712 00:36:16,719 --> 00:36:19,640 Speaker 1: breaking down, as I like to call it, the decentralized revolution. 713 00:36:20,000 --> 00:36:23,399 Speaker 1: If you missed any of this show, uh, you're gonna 714 00:36:23,440 --> 00:36:25,120 Speaker 1: miss out big time. But I got you back. Check 715 00:36:25,160 --> 00:36:26,880 Speaker 1: me out on the podcast. Just search The Mark ma 716 00:36:26,960 --> 00:36:29,000 Speaker 1: Show and your favorite podcast player, or go to YouTube 717 00:36:29,040 --> 00:36:31,560 Speaker 1: and search Market Disruptors. You can watch me and listen 718 00:36:31,600 --> 00:36:33,400 Speaker 1: to me there and that's what I got. Thanks so 719 00:36:33,480 --> 00:36:34,680 Speaker 1: much for listening. Until next time,