1 00:00:00,040 --> 00:00:02,320 Speaker 1: Hello, and welcome to another episode of the Mark Mos Show, 2 00:00:02,360 --> 00:00:05,200 Speaker 1: where we talk about the decentralized revolution, the way the 3 00:00:05,200 --> 00:00:07,360 Speaker 1: world is changing, and of course we look at it 4 00:00:07,360 --> 00:00:11,399 Speaker 1: through the lens of politics, finance, and technology, and boy 5 00:00:11,440 --> 00:00:13,000 Speaker 1: has it been a busy week. Now, I try to 6 00:00:13,039 --> 00:00:15,240 Speaker 1: bring to you, you know, some educations you can really 7 00:00:15,320 --> 00:00:17,760 Speaker 1: understand these things that are going on and look at 8 00:00:17,760 --> 00:00:20,880 Speaker 1: them from different perspectives, some of the latest breaking news 9 00:00:20,880 --> 00:00:22,400 Speaker 1: to keep you up to data on what's going on, 10 00:00:22,600 --> 00:00:25,080 Speaker 1: and of course some interesting guests so you can hear 11 00:00:25,079 --> 00:00:28,280 Speaker 1: different perspectives than just mine, although you know mine is 12 00:00:28,280 --> 00:00:30,280 Speaker 1: the only perspective you need, but you know, bring some 13 00:00:30,320 --> 00:00:33,240 Speaker 1: other perspectives for you here and there. I want to 14 00:00:33,280 --> 00:00:36,000 Speaker 1: break down some of the latest breaking news that's been 15 00:00:36,040 --> 00:00:38,280 Speaker 1: going on this week, because, like I said, there is 16 00:00:38,320 --> 00:00:41,600 Speaker 1: a lot going on in this world and when we 17 00:00:41,640 --> 00:00:43,279 Speaker 1: look at it, like I said, I'd like to look 18 00:00:43,280 --> 00:00:45,959 Speaker 1: at the intersection of politics, finance and technology where those 19 00:00:45,960 --> 00:00:49,320 Speaker 1: three come together, and we can see that there is 20 00:00:49,800 --> 00:00:51,720 Speaker 1: a lot of things coming together. As a matter of fact, 21 00:00:51,760 --> 00:00:56,480 Speaker 1: we can see um this week, we are getting closer 22 00:00:56,680 --> 00:01:00,840 Speaker 1: to the c B d C. As we've been talking 23 00:01:00,880 --> 00:01:02,640 Speaker 1: about for a long time of course, I'm talking about 24 00:01:02,720 --> 00:01:08,360 Speaker 1: central bank digital currencies, which they're not really what they 25 00:01:08,400 --> 00:01:12,480 Speaker 1: seem like at first glance. Um they are. You know, 26 00:01:12,560 --> 00:01:15,679 Speaker 1: we already do digital transactions right about of all transactions 27 00:01:15,720 --> 00:01:18,679 Speaker 1: are digital. But central bank digital currencies are much much 28 00:01:18,880 --> 00:01:22,759 Speaker 1: different form for any number of reasons, one of which 29 00:01:22,840 --> 00:01:26,559 Speaker 1: is of course that it's programmable money, So not only 30 00:01:26,760 --> 00:01:28,920 Speaker 1: can they see what you do or freezerr bank counts, 31 00:01:28,959 --> 00:01:31,720 Speaker 1: they can actually program it in advance what you're able 32 00:01:31,720 --> 00:01:33,959 Speaker 1: to do with your money. So you eat too much 33 00:01:34,000 --> 00:01:35,720 Speaker 1: red meat, you can't buy red meat. You don't save 34 00:01:35,800 --> 00:01:38,600 Speaker 1: enough money will pay you good interest rates. You save 35 00:01:38,680 --> 00:01:43,280 Speaker 1: too much money will hit you with a negative interest rate. Um, you, 36 00:01:43,440 --> 00:01:45,320 Speaker 1: nothing good happens after midnight, so you can't spend your 37 00:01:45,319 --> 00:01:47,320 Speaker 1: money after midnight. You know all those types of things. 38 00:01:47,560 --> 00:01:49,880 Speaker 1: Oh you said mean things on the internet will hit 39 00:01:49,960 --> 00:01:51,800 Speaker 1: you know, well, you can't spend your money either, things 40 00:01:51,840 --> 00:01:54,560 Speaker 1: like that. And around the world we see that we're 41 00:01:54,560 --> 00:01:58,400 Speaker 1: getting increasingly closer to central bank digital currencies, and in 42 00:01:58,520 --> 00:02:00,920 Speaker 1: the United States is a very key issue for any 43 00:02:01,000 --> 00:02:05,000 Speaker 1: number of reasons, one of which is that central banks, 44 00:02:05,040 --> 00:02:08,639 Speaker 1: the Federal Reserve of the United States doesn't actually create money. 45 00:02:08,760 --> 00:02:10,959 Speaker 1: The Federal Reserve when we talked about all the time 46 00:02:11,000 --> 00:02:13,240 Speaker 1: like printing money, and you know, it's it's it's a 47 00:02:13,240 --> 00:02:15,519 Speaker 1: good way to talk about it, but it's not really true. 48 00:02:15,840 --> 00:02:18,160 Speaker 1: And so central banks create reserves and they give them 49 00:02:18,160 --> 00:02:22,040 Speaker 1: to commercial banks think JP, Morgan City Bank, Bank of America, Wells, Fargo, 50 00:02:22,120 --> 00:02:24,840 Speaker 1: et cetera. And so they give these reserves to the banks, 51 00:02:24,840 --> 00:02:27,679 Speaker 1: and the banks create money. So actually the banks, the 52 00:02:27,680 --> 00:02:29,320 Speaker 1: commercial banks, are the ones that create the money, and 53 00:02:29,320 --> 00:02:31,320 Speaker 1: they do that through loans. So when they give you 54 00:02:31,360 --> 00:02:33,520 Speaker 1: a loan for a house, of car, boat, whatever, that 55 00:02:33,600 --> 00:02:37,640 Speaker 1: money is created into existence. And the other thing is 56 00:02:37,680 --> 00:02:42,960 Speaker 1: that only the government has the ability to make money, 57 00:02:43,840 --> 00:02:45,880 Speaker 1: not the federal reserve. Remember the Federal Reserve doesn't do it. 58 00:02:45,880 --> 00:02:48,200 Speaker 1: The Federal Reserve gives it to the banks. And so 59 00:02:48,320 --> 00:02:51,799 Speaker 1: if we had a central bank digital currency, and that 60 00:02:51,840 --> 00:02:56,519 Speaker 1: would mean the central bank would be the one issuing money, 61 00:02:56,560 --> 00:02:58,640 Speaker 1: but that's not the way our system works, and so 62 00:02:58,680 --> 00:03:02,080 Speaker 1: there's all types of legal problems around this. Of course, 63 00:03:02,120 --> 00:03:04,560 Speaker 1: you might understand that a lot of people don't like it. 64 00:03:04,639 --> 00:03:06,600 Speaker 1: I don't like it. You certainly shouldn't like it. So 65 00:03:06,600 --> 00:03:09,760 Speaker 1: we should definitely push back and fight against that There's 66 00:03:09,880 --> 00:03:13,040 Speaker 1: also lots of lawmakers who don't like it because again, 67 00:03:13,080 --> 00:03:15,320 Speaker 1: the government is the one supposed to have the rules 68 00:03:15,360 --> 00:03:17,400 Speaker 1: over creating money, not the central bank, so it takes 69 00:03:17,440 --> 00:03:20,519 Speaker 1: power away from the government. Also, the commercial banks don't 70 00:03:20,520 --> 00:03:23,160 Speaker 1: like it because the commercial banks are the ones that 71 00:03:23,160 --> 00:03:26,040 Speaker 1: are supposed to create the money, not the Federal Reserve. So, 72 00:03:26,080 --> 00:03:28,280 Speaker 1: as you can see, this is a big change the 73 00:03:28,280 --> 00:03:31,280 Speaker 1: way things work in the United States. Now. China has 74 00:03:31,280 --> 00:03:33,400 Speaker 1: already rolled out their central bank digital currency, which of 75 00:03:33,400 --> 00:03:38,280 Speaker 1: course makes sense because it's communist China, right. President ge 76 00:03:38,520 --> 00:03:41,080 Speaker 1: basically runs the country by iron fist. But this is 77 00:03:41,080 --> 00:03:46,760 Speaker 1: America supposed to work a different way. However, doesn't seem 78 00:03:46,840 --> 00:03:48,640 Speaker 1: like it's going to be stopping what they're trying to do. 79 00:03:48,680 --> 00:03:50,200 Speaker 1: As a matter of fact, we can see this week 80 00:03:50,240 --> 00:03:56,320 Speaker 1: it says banking heavyweights commence wholesale digital dollar pilot with 81 00:03:56,400 --> 00:03:58,680 Speaker 1: the New York Fed. So the way the Federals works 82 00:03:58,760 --> 00:04:02,080 Speaker 1: is it's a it's a group of banks. The New 83 00:04:02,160 --> 00:04:05,800 Speaker 1: York Fed is arguably the most important bank of all 84 00:04:05,840 --> 00:04:08,720 Speaker 1: the banks in the FOTEOL Reserve, and it says here 85 00:04:08,720 --> 00:04:11,280 Speaker 1: that a group of major major banks have commenced a 86 00:04:11,320 --> 00:04:14,160 Speaker 1: pilot project alongside the FOTOL Reserve Bank of New York 87 00:04:14,520 --> 00:04:20,200 Speaker 1: to test the feasibility of using tokens representing digital dollars 88 00:04:20,200 --> 00:04:25,320 Speaker 1: to improve how central bank money is settled between institutions. Now, 89 00:04:25,760 --> 00:04:27,600 Speaker 1: you know, there's such a thing as you know, the 90 00:04:27,800 --> 00:04:32,479 Speaker 1: um slippery slope, right, I get the boiling pot that 91 00:04:32,720 --> 00:04:35,200 Speaker 1: the frog that boiled in the pot or whatever where like, 92 00:04:35,360 --> 00:04:37,640 Speaker 1: you know, let's just ease into it a little bit, 93 00:04:37,800 --> 00:04:39,719 Speaker 1: and you know, let's just a little bit of a test, 94 00:04:39,839 --> 00:04:42,320 Speaker 1: and nobody's really gonna object to this. And then before 95 00:04:42,360 --> 00:04:44,840 Speaker 1: you know it, like you're a frog and you're literally 96 00:04:44,839 --> 00:04:47,000 Speaker 1: in a boiling pot of water and you're dying, right, 97 00:04:47,279 --> 00:04:50,880 Speaker 1: and so that's kind of what this is. Let's just 98 00:04:51,120 --> 00:04:53,880 Speaker 1: test it right now. And right now it's just gonna 99 00:04:53,920 --> 00:04:57,040 Speaker 1: be between banks. So it's not for the public. It doesn't, 100 00:04:57,040 --> 00:04:59,960 Speaker 1: it doesn't, it doesn't really um, you know, it doesn't 101 00:05:00,040 --> 00:05:02,040 Speaker 1: they violate any of those issues like I talked about, 102 00:05:02,040 --> 00:05:03,760 Speaker 1: where you know, the government can make the money and 103 00:05:03,760 --> 00:05:07,400 Speaker 1: it doesn't doesn't really take away the commercial banks ability 104 00:05:07,400 --> 00:05:08,760 Speaker 1: to create money, because this is just for the Federal 105 00:05:08,760 --> 00:05:12,800 Speaker 1: Reserve and this is between banks. Let's start there. Let's 106 00:05:12,800 --> 00:05:15,320 Speaker 1: get them using that let's test it out, Let's see 107 00:05:15,320 --> 00:05:17,320 Speaker 1: how it works. Let's let's get the let's get the 108 00:05:17,320 --> 00:05:20,960 Speaker 1: public used to this idea. Let's warm them up in 109 00:05:21,000 --> 00:05:23,159 Speaker 1: the pot. That's what it seems like it's going on. 110 00:05:23,200 --> 00:05:25,880 Speaker 1: So we can see your city Bank, HSBC B and 111 00:05:26,000 --> 00:05:29,040 Speaker 1: y Melon and Wells Fargo were among the banks taking part. 112 00:05:30,120 --> 00:05:34,040 Speaker 1: But here's the crazy part. Along with so the banks City, 113 00:05:34,160 --> 00:05:38,039 Speaker 1: HSBC B and y Melon and Wells Fargo, along with 114 00:05:38,240 --> 00:05:43,520 Speaker 1: payments Giant master Card. But that's interesting because MasterCard is 115 00:05:43,560 --> 00:05:47,920 Speaker 1: not a bank. MasterCard doesn't send money back and forth 116 00:05:47,960 --> 00:05:52,600 Speaker 1: between banks, so that's pretty interesting. Um. It says here 117 00:05:52,600 --> 00:05:55,680 Speaker 1: that it's a twelve week proof of concept pilot that 118 00:05:55,720 --> 00:05:59,200 Speaker 1: will explore the use of an interoperable platform known as 119 00:05:59,240 --> 00:06:03,200 Speaker 1: the Regulated Ability Network or r l N, where banks 120 00:06:03,200 --> 00:06:05,960 Speaker 1: can issue tokens which are settled through simulated Central Bank 121 00:06:06,040 --> 00:06:09,920 Speaker 1: money on a distributed ledger. The project will be conducted 122 00:06:09,960 --> 00:06:13,560 Speaker 1: in a test environment using only simulated data. So it's 123 00:06:13,560 --> 00:06:16,600 Speaker 1: a twelve week project and right now it's just a test, 124 00:06:17,040 --> 00:06:20,960 Speaker 1: it's just simulated data. But why would they be testing 125 00:06:21,000 --> 00:06:24,920 Speaker 1: it if they didn't want to roll it out? I mean, 126 00:06:24,960 --> 00:06:27,960 Speaker 1: there was just no reason to create it or test 127 00:06:28,000 --> 00:06:30,760 Speaker 1: it if you didn't want to use it. So, look, 128 00:06:30,800 --> 00:06:33,200 Speaker 1: we know where this is going, right, We know this 129 00:06:33,279 --> 00:06:34,920 Speaker 1: was going and says well, the majority of central banks 130 00:06:34,920 --> 00:06:37,920 Speaker 1: are exploring the development of retail central bank digital currencies 131 00:06:38,000 --> 00:06:41,760 Speaker 1: or CBDCs, forms of digital money for use by the public. 132 00:06:42,680 --> 00:06:45,360 Speaker 1: Many are also engaged in pilots around wholesale CBDCs fee 133 00:06:45,480 --> 00:06:48,280 Speaker 1: money in token form for exchange among financial institutions to 134 00:06:48,320 --> 00:06:52,560 Speaker 1: improve existing clearing and settlement processes. So now we're just 135 00:06:52,800 --> 00:06:56,640 Speaker 1: testing it and we'll see where it goes. But we 136 00:06:56,920 --> 00:06:59,560 Speaker 1: know where that goes, and you need to be aware 137 00:06:59,640 --> 00:07:03,760 Speaker 1: of the US. Now, in bigger news, we've been talking 138 00:07:03,839 --> 00:07:06,919 Speaker 1: about the collapse of f t X melting down and 139 00:07:06,960 --> 00:07:10,920 Speaker 1: it looks like it's have massive contagion. We see coin Base, 140 00:07:11,000 --> 00:07:14,560 Speaker 1: which is a publicly traded company a cryptocurrency exchange, is 141 00:07:14,600 --> 00:07:16,760 Speaker 1: taking a massive hit. Looks like Wall Street is going 142 00:07:16,840 --> 00:07:21,640 Speaker 1: sour on it. The stock is down about forty below 143 00:07:21,680 --> 00:07:25,080 Speaker 1: it's capitalized price, which is looking pretty far at the 144 00:07:25,080 --> 00:07:27,240 Speaker 1: bond so if you look at the debt market, we 145 00:07:27,320 --> 00:07:29,240 Speaker 1: can see that the price of coin based three point 146 00:07:29,240 --> 00:07:34,040 Speaker 1: three seven five bond due is crashing down. And part 147 00:07:34,040 --> 00:07:35,400 Speaker 1: of that reason is because if we look at the 148 00:07:35,440 --> 00:07:37,320 Speaker 1: forward guidance of what we think coin Base can do 149 00:07:37,400 --> 00:07:40,680 Speaker 1: as a company. So I've been talking about some of 150 00:07:40,680 --> 00:07:42,720 Speaker 1: these regulations that could be coming in the crypto industry. 151 00:07:42,720 --> 00:07:44,560 Speaker 1: If you've missed any of that, go check out the 152 00:07:44,600 --> 00:07:47,200 Speaker 1: previous segments of the Markmas Show on your favorite podcast 153 00:07:47,200 --> 00:07:50,280 Speaker 1: player or catch me on YouTube. But if the government 154 00:07:50,480 --> 00:07:54,200 Speaker 1: really cracks down on regulations, then a company like coin 155 00:07:54,240 --> 00:07:57,320 Speaker 1: base might have a problem because a company like coin 156 00:07:57,360 --> 00:08:01,440 Speaker 1: base makes its profits off of you trading these cryptocurrencies. 157 00:08:01,440 --> 00:08:05,560 Speaker 1: But if these cryptoqurencies are regulated as securities and most 158 00:08:05,600 --> 00:08:08,560 Speaker 1: of them go away, and then let's a coin Base 159 00:08:08,720 --> 00:08:12,400 Speaker 1: has to file as a securities platform and then probably 160 00:08:12,440 --> 00:08:16,760 Speaker 1: pay fines for all of the securities unregistered securities they've 161 00:08:16,760 --> 00:08:19,880 Speaker 1: been pedaling so far. That could have a massive hit 162 00:08:19,920 --> 00:08:24,200 Speaker 1: to coin basis books and then severely crimp the ability 163 00:08:24,200 --> 00:08:28,000 Speaker 1: to make money moving forward. At least I think now. 164 00:08:28,120 --> 00:08:32,360 Speaker 1: Right now it's at about discount to where the capitalization 165 00:08:32,360 --> 00:08:35,440 Speaker 1: should be. But I don't know if that's enough. We 166 00:08:35,480 --> 00:08:38,320 Speaker 1: don't know the impact of if the regulations will be 167 00:08:38,320 --> 00:08:40,839 Speaker 1: passed through, and if the regulations are passed through, how 168 00:08:40,920 --> 00:08:43,839 Speaker 1: much will that affect both their cash positions as well 169 00:08:43,840 --> 00:08:46,160 Speaker 1: as their ability to make money in the moving forward. 170 00:08:46,920 --> 00:08:51,600 Speaker 1: But the markets are responding at least in this assessment 171 00:08:51,600 --> 00:08:54,600 Speaker 1: here where bonds traded with the yield of around four 172 00:08:56,720 --> 00:08:58,840 Speaker 1: or more. If you're just tuning and you're listening to 173 00:08:58,880 --> 00:09:01,360 Speaker 1: the markma Show, we're talking kind about the decentralized revolution, 174 00:09:01,400 --> 00:09:04,040 Speaker 1: breaking some of the latest breaking news of the week, 175 00:09:04,080 --> 00:09:06,120 Speaker 1: so you can stay up to date, so you can 176 00:09:06,160 --> 00:09:08,839 Speaker 1: sound like you know the smartest part, smartest person. That's 177 00:09:08,920 --> 00:09:11,959 Speaker 1: your cocktail party this weekend. Um, just by tuning in 178 00:09:12,040 --> 00:09:13,600 Speaker 1: and listening to me as I catch you up on 179 00:09:13,640 --> 00:09:15,200 Speaker 1: all the big news. I got a lot more to 180 00:09:15,280 --> 00:09:18,960 Speaker 1: discover to discuss when I come back, including with the economy, 181 00:09:19,000 --> 00:09:22,200 Speaker 1: the education system, the political realm and more. I'll be 182 00:09:22,280 --> 00:09:24,080 Speaker 1: back with all that and more in a minute. You 183 00:09:24,120 --> 00:09:25,840 Speaker 1: do not want to miss what I have coming up next, 184 00:09:25,920 --> 00:09:28,120 Speaker 1: so don't go away, all right, Welcome back. If you 185 00:09:28,200 --> 00:09:30,480 Speaker 1: just tune in you're listening to the Mark Moss Show, 186 00:09:30,520 --> 00:09:33,160 Speaker 1: we're talking about some of the biggest breaking news in 187 00:09:33,240 --> 00:09:37,199 Speaker 1: the world in the realm of politics, finance, and technology 188 00:09:37,240 --> 00:09:40,720 Speaker 1: are really the intersection of those things. As we witness 189 00:09:41,080 --> 00:09:45,880 Speaker 1: the world swinging from centralization to decentralization, and I spent 190 00:09:46,480 --> 00:09:48,640 Speaker 1: quite a bit of time on my other podcast segments 191 00:09:48,679 --> 00:09:52,640 Speaker 1: talking about the crash of f t X and what 192 00:09:52,760 --> 00:09:57,440 Speaker 1: that means for the greater um cryptocurrency market and financial 193 00:09:57,640 --> 00:10:00,800 Speaker 1: market overall. I'm not gonna re act everything that I've 194 00:10:00,840 --> 00:10:03,120 Speaker 1: been through, but I do want to rehash some of it, 195 00:10:03,160 --> 00:10:06,240 Speaker 1: which is that a couple of things. Is one, you 196 00:10:06,280 --> 00:10:09,440 Speaker 1: need to be aware that there is still probably quite 197 00:10:09,480 --> 00:10:12,439 Speaker 1: a bit of contagion that could spread from here. So 198 00:10:13,160 --> 00:10:17,080 Speaker 1: if you're in the cryptocurrency space at all, don't think 199 00:10:17,120 --> 00:10:20,719 Speaker 1: that the worst is over. I think the worst might 200 00:10:20,840 --> 00:10:22,880 Speaker 1: still be to come. Now. I don't know this for sure, 201 00:10:22,960 --> 00:10:25,960 Speaker 1: but what happens is the smaller players go down first, 202 00:10:26,679 --> 00:10:28,960 Speaker 1: and then it takes the bigger players, the bigger players, 203 00:10:29,000 --> 00:10:31,400 Speaker 1: the bigger players, and so forth. And f t X 204 00:10:32,400 --> 00:10:36,320 Speaker 1: is the second largest cryptocurrency exchange, but there's even bigger 205 00:10:36,360 --> 00:10:41,080 Speaker 1: players or other similarly big players that are not exchanges, 206 00:10:41,120 --> 00:10:44,520 Speaker 1: but they're in the mix. And so one of those 207 00:10:45,000 --> 00:10:49,679 Speaker 1: is cryptocurrency lender Genesis, and Genesis is a company that's 208 00:10:49,720 --> 00:10:51,600 Speaker 1: kind of behind the scenes and they work with all 209 00:10:51,600 --> 00:10:55,000 Speaker 1: these companies um taking custody of their funds, holding them 210 00:10:55,040 --> 00:10:58,040 Speaker 1: for them and providing liquidity by doing loans and things 211 00:10:58,080 --> 00:11:00,480 Speaker 1: like that. And what we saw this week is that 212 00:11:00,520 --> 00:11:04,760 Speaker 1: crypto lender Genesis had to suspend with draws after the 213 00:11:04,800 --> 00:11:07,000 Speaker 1: ft X collapse. Because what happens is all of these 214 00:11:07,040 --> 00:11:12,560 Speaker 1: people have um contagion. Right, they're all interrelated. They all 215 00:11:12,600 --> 00:11:15,320 Speaker 1: have money here, money there, and so when they lose 216 00:11:15,360 --> 00:11:17,200 Speaker 1: a big chunk of money here, that creates a problem 217 00:11:17,200 --> 00:11:19,520 Speaker 1: over there. And the demise of f t X created 218 00:11:19,559 --> 00:11:23,199 Speaker 1: an unprecedented turmoil for Genesis, says this article in the 219 00:11:23,240 --> 00:11:26,719 Speaker 1: Wall Street Journal, causing the company's lending arm to be 220 00:11:26,840 --> 00:11:31,080 Speaker 1: unable to meet their withdrawal request. Because what happens is 221 00:11:32,679 --> 00:11:34,880 Speaker 1: it's called a bank run because it typically happens with banks, 222 00:11:34,880 --> 00:11:36,680 Speaker 1: and now we're seeing it happen in the cryptocurrency space. 223 00:11:36,720 --> 00:11:40,199 Speaker 1: But if you have money at a bank and then 224 00:11:40,280 --> 00:11:42,920 Speaker 1: all of a sudden you doubt their ability to pay 225 00:11:42,960 --> 00:11:46,400 Speaker 1: you that money back, you might want to go get 226 00:11:46,440 --> 00:11:50,520 Speaker 1: your money out before they run out, right. You want 227 00:11:50,520 --> 00:11:52,840 Speaker 1: to go before everybody else shows up to get their money. 228 00:11:52,880 --> 00:11:54,240 Speaker 1: You want to make sure you get your money before 229 00:11:54,240 --> 00:11:55,480 Speaker 1: they go out. And the same thing happens with these 230 00:11:55,520 --> 00:11:59,440 Speaker 1: cryptocurrency markets is that people all of a sudden lose trust, 231 00:11:59,800 --> 00:12:01,880 Speaker 1: They lose faith in their ability to get their money out, 232 00:12:01,880 --> 00:12:03,280 Speaker 1: and so they say, hey, I want to be the 233 00:12:03,280 --> 00:12:05,440 Speaker 1: first one to get my money out. And that's exactly 234 00:12:05,440 --> 00:12:09,840 Speaker 1: what started happening with Genesis, is that so many people 235 00:12:10,880 --> 00:12:12,520 Speaker 1: I wanted to get money out that they weren't able 236 00:12:12,559 --> 00:12:17,320 Speaker 1: to meet all their withdrawal requests because no bank, I 237 00:12:17,360 --> 00:12:19,720 Speaker 1: hate to break it to you, JP, Borgan or Wells Fargo, 238 00:12:19,840 --> 00:12:21,880 Speaker 1: they don't have all your money in the bank. As 239 00:12:21,880 --> 00:12:24,000 Speaker 1: a matter of fact, Go to your bank and try 240 00:12:24,040 --> 00:12:26,720 Speaker 1: to pull out five thousand dollars of cash and see 241 00:12:26,800 --> 00:12:29,719 Speaker 1: what that's like. I've done it many times. My bank 242 00:12:29,800 --> 00:12:32,319 Speaker 1: tells me that I need to request the cash in 243 00:12:32,440 --> 00:12:35,920 Speaker 1: advance because they just don't keep that much. And so 244 00:12:36,280 --> 00:12:38,079 Speaker 1: um same thing happens with Genesis. You know, they don't 245 00:12:38,120 --> 00:12:39,760 Speaker 1: have all that money sitting in cash. They have it 246 00:12:39,840 --> 00:12:42,080 Speaker 1: in other assets, and so when a lot of people 247 00:12:42,120 --> 00:12:44,120 Speaker 1: come to request it at the same time, they just 248 00:12:44,160 --> 00:12:46,240 Speaker 1: don't have that laying around. They have to liquidate other 249 00:12:46,280 --> 00:12:48,959 Speaker 1: positions and it takes time. And so they said that 250 00:12:49,040 --> 00:12:52,439 Speaker 1: it's they told clients that it was suspending redemptions and 251 00:12:53,040 --> 00:12:56,079 Speaker 1: new loan originations following the collapse of Exchange f t 252 00:12:56,440 --> 00:13:01,079 Speaker 1: x um. It says that the trauma for Genesis caused 253 00:13:01,080 --> 00:13:04,040 Speaker 1: the company's lending arm to be unable to meet all 254 00:13:04,200 --> 00:13:07,200 Speaker 1: withdrawal requests, the company told clients. On a Wednesday call, 255 00:13:07,280 --> 00:13:09,280 Speaker 1: the company said it would delivery plan next week for 256 00:13:09,400 --> 00:13:11,439 Speaker 1: its lending business. So we don't know what's going to 257 00:13:11,520 --> 00:13:15,080 Speaker 1: happen with that, but it's a big problem. Genesis had 258 00:13:15,120 --> 00:13:18,520 Speaker 1: two point eight billion in active loans outstanding at the 259 00:13:18,600 --> 00:13:22,559 Speaker 1: end of September. And who did they have those loans with? 260 00:13:22,760 --> 00:13:25,440 Speaker 1: And this is what I'm talking about, contagion. Who were 261 00:13:25,480 --> 00:13:28,600 Speaker 1: those loans with? Are those loans good? Can they collect 262 00:13:28,679 --> 00:13:30,880 Speaker 1: on that? If they can't get that money, then what 263 00:13:30,960 --> 00:13:32,760 Speaker 1: about the money that they owe back to other people. 264 00:13:33,840 --> 00:13:38,040 Speaker 1: It all starts getting very, very very dirty. Now, Genesis 265 00:13:38,720 --> 00:13:42,679 Speaker 1: was the one providing yield to Gemini, So if you 266 00:13:42,760 --> 00:13:45,120 Speaker 1: have money with Gemini and you were using their earned product, 267 00:13:45,240 --> 00:13:48,160 Speaker 1: you might have a problem there. Gemini says it's partners 268 00:13:48,200 --> 00:13:50,800 Speaker 1: with borrowers who are vetted through our risk management framework 269 00:13:50,800 --> 00:13:54,760 Speaker 1: which review our partners collateralization management process. So Gemini says 270 00:13:54,800 --> 00:13:59,880 Speaker 1: they do good due diligence. Everybody does. The problem is 271 00:14:00,000 --> 00:14:01,760 Speaker 1: when you start seeing a run on the banks and 272 00:14:01,840 --> 00:14:06,640 Speaker 1: you see asset prices uh falling. All that collateral that 273 00:14:06,760 --> 00:14:08,719 Speaker 1: you thought you had that was good all of a 274 00:14:08,760 --> 00:14:13,599 Speaker 1: sudden doesn't turn out to be good. Now Gemini is 275 00:14:13,679 --> 00:14:16,880 Speaker 1: potentially going to be in trouble from from this, and 276 00:14:17,040 --> 00:14:20,120 Speaker 1: we don't know who else is. We saw another crypto 277 00:14:20,200 --> 00:14:23,000 Speaker 1: lender called Salt had to pause all their withdraws on Tuesday, 278 00:14:23,840 --> 00:14:26,600 Speaker 1: saying that the collapse of FTX had impacted their business. 279 00:14:27,160 --> 00:14:29,000 Speaker 1: So I would just go out on a limb and 280 00:14:29,040 --> 00:14:32,920 Speaker 1: I would just tell you that any crypto company that 281 00:14:33,200 --> 00:14:37,440 Speaker 1: has any type of lending or borrowing or yield products 282 00:14:38,120 --> 00:14:40,000 Speaker 1: is probably going to be caught up in this mix, 283 00:14:40,080 --> 00:14:41,520 Speaker 1: does it Now? Does that mean they're gonna go out 284 00:14:41,520 --> 00:14:43,720 Speaker 1: of business and not return your funds? No, it doesn't. 285 00:14:44,720 --> 00:14:48,080 Speaker 1: But it's definitely a risk. And I don't know how 286 00:14:48,120 --> 00:14:51,280 Speaker 1: to quantify that risk and neither do you. And so 287 00:14:51,280 --> 00:14:54,000 Speaker 1: I would think about that any time you give your 288 00:14:54,120 --> 00:14:57,000 Speaker 1: money to somebody else, there's a chance you don't get 289 00:14:57,080 --> 00:14:59,920 Speaker 1: that money back. Now, some it is more of a 290 00:15:00,000 --> 00:15:02,480 Speaker 1: ski than others. If you go find a homeless person 291 00:15:02,520 --> 00:15:04,240 Speaker 1: on the street and give them their money, there's probably 292 00:15:04,280 --> 00:15:05,960 Speaker 1: a very good chance you don't get that money back. 293 00:15:06,000 --> 00:15:08,240 Speaker 1: There's a very high risk of that. If you give 294 00:15:08,280 --> 00:15:10,680 Speaker 1: it to a f d I C insured in bank, 295 00:15:11,320 --> 00:15:14,440 Speaker 1: the risk is very low, but there's still a risk, 296 00:15:15,000 --> 00:15:16,760 Speaker 1: all right, and you're gonna get compensated for that risk, 297 00:15:16,800 --> 00:15:18,800 Speaker 1: or you should be compensated for that risk. The problem 298 00:15:18,840 --> 00:15:21,520 Speaker 1: that I have with these cryptocurrency products is that there's 299 00:15:21,520 --> 00:15:23,760 Speaker 1: no way to quantify that risk. And so if I 300 00:15:23,800 --> 00:15:25,400 Speaker 1: can't quantify that risk, if I don't know if it's 301 00:15:25,400 --> 00:15:28,200 Speaker 1: four percent risk or eight percent risk or se risk, 302 00:15:28,680 --> 00:15:33,120 Speaker 1: then I probably shouldn't be using those And so most 303 00:15:33,160 --> 00:15:35,160 Speaker 1: people are starting to wake up to this, which is 304 00:15:35,200 --> 00:15:37,600 Speaker 1: why they're going to get their money off of the exchanges, 305 00:15:37,680 --> 00:15:39,080 Speaker 1: just like people would go and make a run on 306 00:15:39,120 --> 00:15:40,800 Speaker 1: the bank and get their money of the bank. And 307 00:15:40,920 --> 00:15:43,160 Speaker 1: so I would recommend to you, if you have any 308 00:15:43,200 --> 00:15:48,560 Speaker 1: cryptocurrency on any exchange, pull it off. And why wouldn't you. 309 00:15:50,360 --> 00:15:53,960 Speaker 1: The whole point of bitcoin or crypto is that I 310 00:15:54,120 --> 00:15:59,240 Speaker 1: can custody those assets on my own. Now, if I 311 00:15:59,320 --> 00:16:01,440 Speaker 1: wanted to store my money in cash, I have to 312 00:16:01,440 --> 00:16:02,840 Speaker 1: put it under a mattress or put it in a 313 00:16:02,920 --> 00:16:04,680 Speaker 1: safe fighting in gold, and have to go bury it 314 00:16:04,720 --> 00:16:07,120 Speaker 1: in the dirt somewhere, build up a safe. If I 315 00:16:07,200 --> 00:16:08,640 Speaker 1: had a lot of goal to have to build up 316 00:16:08,680 --> 00:16:10,960 Speaker 1: a vault, and I'd have to hire security for it, 317 00:16:12,000 --> 00:16:16,680 Speaker 1: but bitcoin doesn't require that. Bitcoin requires just a cryptographic 318 00:16:16,720 --> 00:16:21,040 Speaker 1: security key. I recommend using something called cold storage, So 319 00:16:21,160 --> 00:16:23,320 Speaker 1: you could use a hardware wallet like a treads or 320 00:16:23,440 --> 00:16:26,840 Speaker 1: t R e z o R Treaser or a ledger. 321 00:16:27,480 --> 00:16:29,920 Speaker 1: Those are hardware walls, like a little guess b drive. UM. 322 00:16:30,080 --> 00:16:31,960 Speaker 1: I would recommend that you can also use like an 323 00:16:32,000 --> 00:16:33,640 Speaker 1: app on your phone or in a computer. I don't 324 00:16:33,680 --> 00:16:35,760 Speaker 1: recommend those as much, but you can do that for 325 00:16:35,880 --> 00:16:38,560 Speaker 1: ease of use. But pull it off of the exchange. 326 00:16:38,560 --> 00:16:40,400 Speaker 1: Why do you have it there to earn four percent? 327 00:16:40,880 --> 00:16:43,240 Speaker 1: Is that four percent worth the risk of losing it all? 328 00:16:44,240 --> 00:16:47,480 Speaker 1: I would say certainly not. Now this is going to 329 00:16:47,600 --> 00:16:49,360 Speaker 1: cause even more run on the bank and more people 330 00:16:49,360 --> 00:16:50,720 Speaker 1: are gonna go pull it out. It's gonna cause even 331 00:16:50,760 --> 00:16:52,520 Speaker 1: more problems. But you don't want to be the last 332 00:16:52,560 --> 00:16:54,600 Speaker 1: person trying to get your money off and find out 333 00:16:54,640 --> 00:16:56,720 Speaker 1: that you can't get it off the exchange, so you 334 00:16:56,800 --> 00:17:00,280 Speaker 1: go pull it off. With Genesis going down, this is 335 00:17:00,320 --> 00:17:02,720 Speaker 1: going to cause a problem with all of these companies 336 00:17:02,760 --> 00:17:05,639 Speaker 1: who didn't think they had problems. And like I said, specifically, 337 00:17:06,080 --> 00:17:11,320 Speaker 1: if your exchange like Gemini, offers a yield product, a 338 00:17:11,480 --> 00:17:16,440 Speaker 1: lending product or borrowing product, just consider they have exposure. 339 00:17:16,480 --> 00:17:18,600 Speaker 1: Now again, it could be a little exposure like Gemini 340 00:17:18,640 --> 00:17:20,560 Speaker 1: and they could eat it. No big deal, could be 341 00:17:20,560 --> 00:17:22,520 Speaker 1: a lot of explosion, could take it down. We don't know. 342 00:17:23,080 --> 00:17:26,800 Speaker 1: But why take the risk for four for six? I 343 00:17:26,800 --> 00:17:29,600 Speaker 1: would say certainly not. If you're just tune in, you're 344 00:17:29,600 --> 00:17:32,720 Speaker 1: listening to the Mark Moa show. We're talking about, you know, 345 00:17:32,920 --> 00:17:36,240 Speaker 1: the decentralized revolution. We're talking about the financial industry being 346 00:17:36,320 --> 00:17:39,720 Speaker 1: shaken up. It's crazy time right now. Now is the 347 00:17:39,800 --> 00:17:43,200 Speaker 1: time to air on the side of caution, trying to 348 00:17:43,240 --> 00:17:46,720 Speaker 1: alert to you the problems that are happening through the 349 00:17:46,880 --> 00:17:49,560 Speaker 1: realm of politics, finance, and technology. I have a lot 350 00:17:49,560 --> 00:17:51,160 Speaker 1: more to cover. I want to break into some stuff 351 00:17:51,240 --> 00:17:54,080 Speaker 1: on the economy, what's gonna happen to you over Thanksgiving 352 00:17:54,600 --> 00:17:57,920 Speaker 1: um and your travel. We'll talk about the education system, 353 00:17:58,000 --> 00:17:59,760 Speaker 1: politics and more. You don't want to miss what I 354 00:17:59,760 --> 00:18:02,520 Speaker 1: have mean up next. Don't go away. I'm gonna be 355 00:18:02,680 --> 00:18:05,639 Speaker 1: right back after a short break. All right, welcome back. 356 00:18:05,680 --> 00:18:07,680 Speaker 1: If you're just tune in, you're listening to the Mark 357 00:18:07,800 --> 00:18:11,159 Speaker 1: Ma Show. We're talking about the decentralized revolution, the way 358 00:18:11,200 --> 00:18:14,400 Speaker 1: the world is changing right now, rapidly before our very eyes. 359 00:18:15,160 --> 00:18:17,359 Speaker 1: We've been talking about the financial system overall. I want 360 00:18:17,400 --> 00:18:19,600 Speaker 1: to jump to a broader subject right now, and that 361 00:18:19,800 --> 00:18:22,560 Speaker 1: is just the economy. Now, we have to understand the 362 00:18:22,680 --> 00:18:24,639 Speaker 1: markets and the economy are not the same. So the 363 00:18:24,680 --> 00:18:27,440 Speaker 1: economy is made up of businesses and that's your job, 364 00:18:27,560 --> 00:18:31,119 Speaker 1: and that's your business, and that's goods and services. And 365 00:18:31,160 --> 00:18:33,680 Speaker 1: then we have the market, which is you know, stock market, 366 00:18:33,720 --> 00:18:37,680 Speaker 1: bond market, etcetera. Now they are not the same. Now, 367 00:18:38,200 --> 00:18:41,040 Speaker 1: they kind of should be the same because typically you're 368 00:18:41,080 --> 00:18:45,520 Speaker 1: investing your stocks, are buying companies, and the companies make 369 00:18:45,600 --> 00:18:49,040 Speaker 1: up the markets, so they should I'm sorry, the companies 370 00:18:49,080 --> 00:18:53,560 Speaker 1: that you're buying. The markets should represent the economy. That's 371 00:18:53,560 --> 00:18:55,639 Speaker 1: the way it should work. However, now we're in this 372 00:18:55,840 --> 00:18:59,080 Speaker 1: highly financialized economy where basically everything has become financialized, and 373 00:18:59,119 --> 00:19:02,200 Speaker 1: we can see the disc connect. There's no greater illustration 374 00:19:02,240 --> 00:19:07,880 Speaker 1: than just looking back till in March, the entire economy 375 00:19:08,119 --> 00:19:11,720 Speaker 1: was shut down. Businesses that have been in business for 376 00:19:12,400 --> 00:19:17,720 Speaker 1: decades were forced to shut down. Um, all the goods 377 00:19:17,760 --> 00:19:19,359 Speaker 1: and service that were being made, the supply chains, they 378 00:19:19,440 --> 00:19:24,800 Speaker 1: all broke. People were at home not working. However, when 379 00:19:24,840 --> 00:19:28,959 Speaker 1: the economy shut down, the markets went on to make 380 00:19:29,040 --> 00:19:33,760 Speaker 1: new highs. So how are markets? How are stock markets 381 00:19:33,840 --> 00:19:36,480 Speaker 1: making new all time highs when the economy sets down? 382 00:19:36,520 --> 00:19:41,119 Speaker 1: And that's because, of course there's a disconnect, right, so 383 00:19:41,320 --> 00:19:42,879 Speaker 1: you have to understand that now. But let's take a 384 00:19:42,920 --> 00:19:45,240 Speaker 1: look at the economy for a second so we can see. 385 00:19:45,280 --> 00:19:47,440 Speaker 1: Here's a article that broke UM on the Wall Street 386 00:19:47,480 --> 00:19:51,400 Speaker 1: Journal says that the this Thanksgiving, what prices to expect 387 00:19:51,520 --> 00:19:53,960 Speaker 1: at the grocery store. And what we can see is 388 00:19:54,040 --> 00:19:57,280 Speaker 1: that unfortunately, the cost of everything has been going up 389 00:19:57,320 --> 00:19:59,639 Speaker 1: through the roof. Food has been going up, energy has 390 00:19:59,640 --> 00:20:03,000 Speaker 1: been going up, and unfortunately your holiday meal is going 391 00:20:03,119 --> 00:20:08,159 Speaker 1: up as well. Maybe this will change you wanted to 392 00:20:08,240 --> 00:20:10,840 Speaker 1: go um or or how many people you host for 393 00:20:11,000 --> 00:20:13,639 Speaker 1: for Thanksgiving. And it says the holiday meals costing American 394 00:20:13,640 --> 00:20:16,960 Speaker 1: families about fourteen percent more this year due to higher 395 00:20:17,040 --> 00:20:20,800 Speaker 1: prices of turkey, flower, eggs, and other staples. So you're 396 00:20:20,840 --> 00:20:23,680 Speaker 1: gonna have to spend more money. Spent about fourteen percent 397 00:20:23,840 --> 00:20:28,160 Speaker 1: more this year due to those higher prices. Now, there's 398 00:20:28,160 --> 00:20:30,880 Speaker 1: a million reasons why they want to say this is happening. 399 00:20:31,320 --> 00:20:34,360 Speaker 1: It says turkey prices have increased about thirty percent from 400 00:20:34,400 --> 00:20:37,560 Speaker 1: a year ago, So turkey is up thirty So I 401 00:20:37,600 --> 00:20:39,680 Speaker 1: guess it depends on how much turkey you have for Thanksgiving, 402 00:20:39,680 --> 00:20:42,360 Speaker 1: depends on how much more you'll pay um. And there's 403 00:20:42,359 --> 00:20:48,360 Speaker 1: any number of reasons why this happened. But inflation happens 404 00:20:48,640 --> 00:20:51,800 Speaker 1: because we have too much money. So as the government 405 00:20:51,800 --> 00:20:54,000 Speaker 1: continues to put more money, the existing dollars are worth 406 00:20:54,080 --> 00:20:56,120 Speaker 1: less and less. So it's not that prices are going up. 407 00:20:56,760 --> 00:20:59,480 Speaker 1: Is that the purchasing power of your dollar is going down, 408 00:21:00,040 --> 00:21:02,040 Speaker 1: so those dollars are buying less good and services, So 409 00:21:02,160 --> 00:21:06,760 Speaker 1: your dollars are buying less turkey than they did the 410 00:21:06,840 --> 00:21:08,840 Speaker 1: year before. There's not the prices of turkey went up, 411 00:21:09,160 --> 00:21:11,359 Speaker 1: is that the dollar went down. And if that's not 412 00:21:11,480 --> 00:21:13,080 Speaker 1: bad enough, maybe you don't want to host a big 413 00:21:13,400 --> 00:21:17,080 Speaker 1: Thanksgiving party at your house because you can't afford that increase. 414 00:21:17,720 --> 00:21:20,040 Speaker 1: Maybe you'll just drive to go see your family. I 415 00:21:20,080 --> 00:21:23,359 Speaker 1: believe Thanksgiving holiday is the largest travel holiday in the year. 416 00:21:23,400 --> 00:21:25,720 Speaker 1: I didn't fact check that before I said that I 417 00:21:25,800 --> 00:21:28,320 Speaker 1: think that's the case, but what we can see is 418 00:21:28,359 --> 00:21:31,640 Speaker 1: that that's also going to be a problem because diesel 419 00:21:32,840 --> 00:21:36,000 Speaker 1: hits a record premium over gas. As a matter of fact, 420 00:21:36,320 --> 00:21:38,720 Speaker 1: um the price of diesel and gas are usually kind 421 00:21:38,720 --> 00:21:41,000 Speaker 1: of somewhat the same. Sometimes diesel is a little bit 422 00:21:41,040 --> 00:21:43,639 Speaker 1: more expensive. I believe that diesel is always supposed to 423 00:21:43,640 --> 00:21:45,879 Speaker 1: be cheaper than gas because it's a lot cheaper to 424 00:21:45,960 --> 00:21:49,719 Speaker 1: produce the diesel. But because we're in a diesel shortage, 425 00:21:50,119 --> 00:21:53,120 Speaker 1: it's getting a massive premium over regular gas. Of course 426 00:21:53,119 --> 00:21:57,080 Speaker 1: applying demand, so when you have more diesel needed than 427 00:21:57,160 --> 00:22:00,280 Speaker 1: there is diesel available, it pushes the price up. Now, 428 00:22:00,359 --> 00:22:02,639 Speaker 1: I did a whole video on why this is happening 429 00:22:02,720 --> 00:22:05,120 Speaker 1: on my YouTube channel. It's got I think over one 430 00:22:05,240 --> 00:22:08,199 Speaker 1: point two million views. If you haven't seen it, you're 431 00:22:08,200 --> 00:22:10,680 Speaker 1: missing out. Just go search Mark Moss on YouTube and 432 00:22:10,720 --> 00:22:13,000 Speaker 1: you can find that video I did on the diesel crisis, 433 00:22:13,119 --> 00:22:16,960 Speaker 1: Why it's happening, how to solve it. I'm not gonna 434 00:22:16,960 --> 00:22:18,879 Speaker 1: go super deep into that now, but I broke it 435 00:22:18,920 --> 00:22:20,440 Speaker 1: down in about a twenty minute video if you want 436 00:22:20,440 --> 00:22:23,639 Speaker 1: to go watch that. But basically, that is going to 437 00:22:23,880 --> 00:22:28,120 Speaker 1: add to the cost of your turkey because some farm somewhere, 438 00:22:28,280 --> 00:22:31,480 Speaker 1: a farmer has farm equipment that uses diesel gas, so 439 00:22:31,640 --> 00:22:33,560 Speaker 1: his cost went up space to sell his stuff for more. 440 00:22:34,040 --> 00:22:36,399 Speaker 1: Then that turkey that he sold probably went onto a 441 00:22:36,520 --> 00:22:38,879 Speaker 1: diesel truck and got delivered to a plant that processed it, 442 00:22:39,359 --> 00:22:41,960 Speaker 1: and that plant probably uses diesel fuel to run their equipment. 443 00:22:42,000 --> 00:22:43,320 Speaker 1: And then it had to get onto another truck to 444 00:22:43,359 --> 00:22:45,639 Speaker 1: get process sent to like a processing center, and then 445 00:22:45,640 --> 00:22:49,399 Speaker 1: another truck to get sent to the grocery store. So 446 00:22:49,480 --> 00:22:53,119 Speaker 1: when diesel goes up, all of those pieces go up, 447 00:22:53,800 --> 00:22:57,159 Speaker 1: and all of those prices go up, and now you 448 00:22:57,240 --> 00:22:59,960 Speaker 1: want to go You don't want to host Thanksgiving because 449 00:23:00,000 --> 00:23:01,720 Speaker 1: the price too expensive. Now you want to go drive 450 00:23:01,760 --> 00:23:03,639 Speaker 1: to a family member, or you want to hop on 451 00:23:03,680 --> 00:23:06,760 Speaker 1: a plane or a train, Well, the price is going 452 00:23:06,800 --> 00:23:08,560 Speaker 1: to go up on that as well. It says right 453 00:23:08,640 --> 00:23:11,800 Speaker 1: here the price of fuel has risen about fifty percent 454 00:23:12,160 --> 00:23:15,560 Speaker 1: this year alone. We have dwindling stockpiles. The video I 455 00:23:15,640 --> 00:23:18,080 Speaker 1: talked about was that we had about less than twenty 456 00:23:18,200 --> 00:23:22,440 Speaker 1: five days worth of diesel fuel available. And the reason 457 00:23:22,480 --> 00:23:24,639 Speaker 1: why is we just can't make it fast enough. Now, 458 00:23:24,680 --> 00:23:27,159 Speaker 1: why is that? Why can't we make it fast? If 459 00:23:27,200 --> 00:23:29,440 Speaker 1: we never had a problem with diesel fuel before. Why 460 00:23:29,480 --> 00:23:32,640 Speaker 1: are we having this problem all of a sudden. Well again, 461 00:23:32,720 --> 00:23:34,280 Speaker 1: go watch that twenty minute VIEO I put together if 462 00:23:34,280 --> 00:23:36,560 Speaker 1: you really want to understand it. But the highlight of it, 463 00:23:36,640 --> 00:23:38,159 Speaker 1: if you want the short version of it, is that 464 00:23:39,640 --> 00:23:43,000 Speaker 1: we're just not making enough of it in the US 465 00:23:43,160 --> 00:23:45,440 Speaker 1: or the world. Now, you have to understand that it 466 00:23:45,560 --> 00:23:49,639 Speaker 1: starts with oil, and then you take the oil, and 467 00:23:49,680 --> 00:23:52,320 Speaker 1: the oil goes to a refinery, and then a refinery 468 00:23:52,440 --> 00:23:55,399 Speaker 1: processes that oil and turns it into gasoline. So we 469 00:23:55,480 --> 00:23:58,680 Speaker 1: need refineries. So you can obviously start with the oil. 470 00:23:58,720 --> 00:24:00,840 Speaker 1: But the price of oils come to own. So if 471 00:24:00,840 --> 00:24:02,719 Speaker 1: the price of oils come down, why is diesel going up? 472 00:24:02,720 --> 00:24:05,160 Speaker 1: And that's because the refineries aren't able to make enough 473 00:24:05,200 --> 00:24:06,840 Speaker 1: of it. Why aren't we able to make enough of it? 474 00:24:07,800 --> 00:24:09,680 Speaker 1: We used to make enough of it, now we don't. 475 00:24:10,040 --> 00:24:11,280 Speaker 1: And this is a question that you need to be 476 00:24:11,359 --> 00:24:14,520 Speaker 1: asking yourself all the time. If you've been traveling, I 477 00:24:14,640 --> 00:24:16,560 Speaker 1: traveled quite a bit. If you've been traveling like I have, 478 00:24:16,720 --> 00:24:19,119 Speaker 1: you know that it's almost impossible for a plane to 479 00:24:19,200 --> 00:24:23,320 Speaker 1: run on time anymore. But why is that they used 480 00:24:23,320 --> 00:24:25,200 Speaker 1: to run on time? Now they just can't seem to 481 00:24:25,280 --> 00:24:28,399 Speaker 1: run on time. Why is everything breaking down? Why did 482 00:24:28,480 --> 00:24:30,480 Speaker 1: we used to be able to have reliable electricity and 483 00:24:30,520 --> 00:24:32,760 Speaker 1: now in California we have rolling blackhouts in the summer 484 00:24:32,880 --> 00:24:36,280 Speaker 1: like that didn't used to happen. Why. Well, the problem 485 00:24:36,400 --> 00:24:42,640 Speaker 1: is because policies have created artificial problem. And so because 486 00:24:42,720 --> 00:24:46,000 Speaker 1: of regulations and because of Joe Biden running on a 487 00:24:46,080 --> 00:24:48,280 Speaker 1: policy he's saying literally as he come into the White 488 00:24:48,320 --> 00:24:50,800 Speaker 1: House saying that he was going to shut energy companies down. 489 00:24:50,840 --> 00:24:53,119 Speaker 1: He was going to shut oil companies down. He's denied 490 00:24:53,160 --> 00:24:56,960 Speaker 1: any expansion to that. No oil company or refinery for 491 00:24:57,040 --> 00:25:00,520 Speaker 1: that matter, wants to invest money back into the space 492 00:25:00,640 --> 00:25:02,000 Speaker 1: into a space that they say they're going to be 493 00:25:02,000 --> 00:25:05,000 Speaker 1: shut down in. So to start a refinery, it takes 494 00:25:05,440 --> 00:25:08,159 Speaker 1: billions of dollars, It takes a decade to get up 495 00:25:08,160 --> 00:25:10,399 Speaker 1: and right. It takes sometimes almost twenty years for it 496 00:25:10,480 --> 00:25:14,280 Speaker 1: to produce a profit after they pay back everything. But 497 00:25:14,320 --> 00:25:16,760 Speaker 1: why would you invest for ten years or twenty years 498 00:25:16,800 --> 00:25:18,639 Speaker 1: into an industry where the president is literally telling you 499 00:25:18,640 --> 00:25:21,960 Speaker 1: they're gonna shut you down. So there's no new investment. 500 00:25:22,000 --> 00:25:25,040 Speaker 1: Now most of the refineries or some of the refiners 501 00:25:25,080 --> 00:25:28,840 Speaker 1: are over one hundred years old. Over a years old, 502 00:25:28,880 --> 00:25:31,160 Speaker 1: that's how old they are. So they're, as you can imagine, 503 00:25:31,359 --> 00:25:35,359 Speaker 1: highly inefficient, and they break down a lot, So a 504 00:25:35,440 --> 00:25:37,800 Speaker 1: lot of them have been shut down. There was one 505 00:25:37,840 --> 00:25:40,000 Speaker 1: refinery that it needed repairs, but it was like a 506 00:25:40,119 --> 00:25:42,159 Speaker 1: billion dollars in repairs, and nobody wants to put the 507 00:25:42,200 --> 00:25:44,639 Speaker 1: billion dollars into it or to repair it, and so 508 00:25:44,760 --> 00:25:48,600 Speaker 1: we're just losing refineries. The refineries are running, are being 509 00:25:48,640 --> 00:25:51,000 Speaker 1: shut down. They can't be repaired, can't be restored. And 510 00:25:51,160 --> 00:25:53,840 Speaker 1: then because the remaining ones that are there are working 511 00:25:53,960 --> 00:25:57,240 Speaker 1: so hard now, they're running way over capacity. So refining, 512 00:25:57,400 --> 00:25:59,680 Speaker 1: just like everything, should shut off once in a while, 513 00:25:59,720 --> 00:26:02,080 Speaker 1: so they do maintenance and you do maintenance so it 514 00:26:02,119 --> 00:26:04,320 Speaker 1: doesn't break down. But they can't shut them down to 515 00:26:04,359 --> 00:26:06,320 Speaker 1: do maintenance because they need to run them all the time, 516 00:26:06,760 --> 00:26:10,359 Speaker 1: which then causes even more problems. So that's a big problem. 517 00:26:10,440 --> 00:26:12,600 Speaker 1: There's not an easy way out. If you'd like to 518 00:26:12,680 --> 00:26:14,520 Speaker 1: understand more about that, Like I said, go watch the 519 00:26:15,160 --> 00:26:18,000 Speaker 1: YouTube video I did about this. You know, the United 520 00:26:18,000 --> 00:26:22,520 Speaker 1: States President Joe Biden has been slamming these companies, threatening 521 00:26:22,600 --> 00:26:26,360 Speaker 1: the gas companies to lower gas prices. It's not them. 522 00:26:26,640 --> 00:26:28,320 Speaker 1: They don't. They don't raise the prices gas. They only 523 00:26:28,359 --> 00:26:31,120 Speaker 1: make a few cents per gallon of profit. It goes 524 00:26:31,240 --> 00:26:34,280 Speaker 1: back to the refinery. The president of the CEO of 525 00:26:34,359 --> 00:26:38,240 Speaker 1: Valero Major Energy Corps put out a putt a letter 526 00:26:39,040 --> 00:26:43,680 Speaker 1: to the Governor of California, Gavin Newsom, saying, look, we're 527 00:26:43,760 --> 00:26:46,560 Speaker 1: not coming on with any new refineries. The state of 528 00:26:46,600 --> 00:26:50,680 Speaker 1: California has these strictest regulations against refineries, which is why 529 00:26:51,000 --> 00:26:53,960 Speaker 1: they've all shut down, which is why the gas prices 530 00:26:54,000 --> 00:26:56,680 Speaker 1: are so high. And we're not making any new ones 531 00:26:56,760 --> 00:26:58,800 Speaker 1: because we're not going to invest into an into an 532 00:26:58,800 --> 00:27:01,040 Speaker 1: industry where you said are going to shut us down. 533 00:27:01,680 --> 00:27:04,200 Speaker 1: And so all this talk and rhetoric from Gavin Newsom, 534 00:27:04,280 --> 00:27:07,560 Speaker 1: from Joe Biden saying it's these greedy oil companies and 535 00:27:07,600 --> 00:27:11,520 Speaker 1: gas companies raising the prices. That's not the answer. Expect 536 00:27:11,560 --> 00:27:14,440 Speaker 1: to pay much higher prices, not just for gas, but 537 00:27:14,640 --> 00:27:17,520 Speaker 1: for everything because in the scenario I told you, everything 538 00:27:17,560 --> 00:27:20,520 Speaker 1: has to be driven around, so you can expect more 539 00:27:20,560 --> 00:27:21,920 Speaker 1: of that. If you're just tuning in you're listening to 540 00:27:21,960 --> 00:27:25,080 Speaker 1: the markma Show, we're talking about the decentralized revolution, the 541 00:27:25,119 --> 00:27:27,160 Speaker 1: way the world is changing through the lens of politics, finance, 542 00:27:27,200 --> 00:27:30,440 Speaker 1: and technology. I got more to discuss to discuss. When 543 00:27:30,480 --> 00:27:31,600 Speaker 1: we come back in a minute, you don't want to 544 00:27:31,640 --> 00:27:34,280 Speaker 1: miss it. We're gonna be talking about the education system, 545 00:27:34,280 --> 00:27:37,040 Speaker 1: the political system, and more. I'll be right back. Don't 546 00:27:37,040 --> 00:27:39,200 Speaker 1: go away, all right, welcome back. If you're just tuning in, 547 00:27:39,280 --> 00:27:41,440 Speaker 1: you're listening to the Mark Ma Show. We're talking about 548 00:27:42,240 --> 00:27:46,160 Speaker 1: the latest breaking news around the world. As we look 549 00:27:46,200 --> 00:27:49,359 Speaker 1: at the world transitioning from a world of centralization and 550 00:27:49,480 --> 00:27:52,679 Speaker 1: central control to a world of decentralization, and we can 551 00:27:52,720 --> 00:27:55,879 Speaker 1: see this from all different angles. Is just just I mean, 552 00:27:56,040 --> 00:27:59,560 Speaker 1: so many you know, we just had the mid term 553 00:27:59,640 --> 00:28:03,480 Speaker 1: elect is happening here in the United States, what we're 554 00:28:03,480 --> 00:28:07,080 Speaker 1: being called maybe one of the most important elections that 555 00:28:07,160 --> 00:28:09,480 Speaker 1: we're going to have, and I don't know every one 556 00:28:09,560 --> 00:28:11,960 Speaker 1: of them is the most important, it seems like. And 557 00:28:12,080 --> 00:28:14,359 Speaker 1: you know, I don't really like to discuss politics here 558 00:28:14,400 --> 00:28:17,240 Speaker 1: on this show. I'd like to discuss politics only in 559 00:28:17,359 --> 00:28:21,639 Speaker 1: so far as it relates to finance and technology, and 560 00:28:21,680 --> 00:28:23,639 Speaker 1: so I like to look at the intersection. So typically 561 00:28:23,680 --> 00:28:26,040 Speaker 1: I don't really discuss politics that much other than, like 562 00:28:26,080 --> 00:28:29,280 Speaker 1: I said, policies and affect the economy. And our investments. However, 563 00:28:29,400 --> 00:28:31,200 Speaker 1: I do want to talk about this election just a 564 00:28:31,240 --> 00:28:32,800 Speaker 1: little bit. I'm not gonna dig in super deep, but 565 00:28:32,800 --> 00:28:34,320 Speaker 1: I want to look at it from a couple of things, 566 00:28:34,400 --> 00:28:37,240 Speaker 1: because there's two big things that really stand out to 567 00:28:37,280 --> 00:28:39,360 Speaker 1: me from this election, from from a from a high level, 568 00:28:39,440 --> 00:28:41,120 Speaker 1: and I think this is something that everybody should be 569 00:28:41,160 --> 00:28:45,960 Speaker 1: aware of and everybody should be concerned about. The First 570 00:28:46,040 --> 00:28:47,840 Speaker 1: thing that I would say is that here we are, 571 00:28:48,160 --> 00:28:52,840 Speaker 1: We're through the election, and there's massive allegations of fraud, 572 00:28:53,320 --> 00:28:58,520 Speaker 1: massive from from all over Okay, and both sides are 573 00:28:58,520 --> 00:29:00,800 Speaker 1: alleging it. So I'm not going to make this partisan, 574 00:29:00,920 --> 00:29:05,080 Speaker 1: all right, both sides are alleging it. We have fraud 575 00:29:05,240 --> 00:29:08,640 Speaker 1: everywhere we have. People are saying, here's the article is 576 00:29:08,680 --> 00:29:12,400 Speaker 1: calling a third world electorate. UM the electoral party we 577 00:29:12,480 --> 00:29:17,200 Speaker 1: see here. American electoral system is suffering from a credibility crisis. UM. 578 00:29:18,320 --> 00:29:24,200 Speaker 1: UM media calls Arizona's race for DEMS after the votes 579 00:29:24,240 --> 00:29:26,560 Speaker 1: haven't even been counted and for some reason they still 580 00:29:26,560 --> 00:29:30,360 Speaker 1: can't even count the votes. UM. Missing ballots are found 581 00:29:30,440 --> 00:29:34,239 Speaker 1: in New Jersey County. UM. I mean, just all these 582 00:29:34,240 --> 00:29:36,120 Speaker 1: allegations and I'm not gonna dig into them. I don't 583 00:29:36,120 --> 00:29:37,520 Speaker 1: want to make this partisan, but here's what I want 584 00:29:37,560 --> 00:29:42,960 Speaker 1: to say. There's all these allocations of fraud or improprieties 585 00:29:43,120 --> 00:29:48,680 Speaker 1: or inconsistencies or whatever. This should not be that difficult. 586 00:29:49,520 --> 00:29:55,400 Speaker 1: The reason why supposedly there's like this misinformation or what 587 00:29:55,520 --> 00:29:58,840 Speaker 1: they want to call conspiracy theories is because there's no 588 00:29:59,080 --> 00:30:03,480 Speaker 1: transparent And see, the way that you build trust is 589 00:30:03,560 --> 00:30:09,200 Speaker 1: with truth, with transparency. If you don't believe something I'm saying, 590 00:30:09,560 --> 00:30:13,040 Speaker 1: I'll prove it to you, right and then through that proof, 591 00:30:13,440 --> 00:30:15,920 Speaker 1: you'll trust it. And if you call me out over 592 00:30:16,000 --> 00:30:18,040 Speaker 1: and over and over and every single time I prove it, 593 00:30:18,080 --> 00:30:20,920 Speaker 1: prove it, prove it, Eventually I'm gonna start gaining trust 594 00:30:21,000 --> 00:30:23,680 Speaker 1: with you. Now, I understand right now, you're just listening 595 00:30:23,720 --> 00:30:25,120 Speaker 1: to me. So I can't show you a lot of 596 00:30:25,160 --> 00:30:26,600 Speaker 1: things that prove it to you. If you watch my 597 00:30:26,680 --> 00:30:29,440 Speaker 1: YouTube channel, I always bring the proof. But when it 598 00:30:29,480 --> 00:30:31,400 Speaker 1: comes to the election, let's go back to the last 599 00:30:31,440 --> 00:30:35,960 Speaker 1: election cycle. The Trump administration said that the election was 600 00:30:36,000 --> 00:30:38,720 Speaker 1: stolen from him from the buying a campaign. That's not 601 00:30:39,040 --> 00:30:42,040 Speaker 1: a partisan thing. That's nothing new. Hillary Clinton said the 602 00:30:42,080 --> 00:30:45,760 Speaker 1: election was stolen from her. Okay, look this happens almost 603 00:30:45,800 --> 00:30:47,760 Speaker 1: all the time, so I'm not gonna make this a 604 00:30:47,800 --> 00:30:50,240 Speaker 1: partis an issue. What I do want to say is 605 00:30:50,320 --> 00:30:52,760 Speaker 1: that if in the in this last election we had 606 00:30:52,760 --> 00:30:57,640 Speaker 1: the mid terms last week, if someone says, hey, these 607 00:30:57,760 --> 00:31:02,280 Speaker 1: votes aren't right, it wasn't counted properly, it's very easy 608 00:31:02,400 --> 00:31:05,440 Speaker 1: to fix this. We don't need technology. All we need 609 00:31:05,640 --> 00:31:08,440 Speaker 1: is let's say, well, okay, let's just lay out the votes, 610 00:31:08,960 --> 00:31:12,480 Speaker 1: and let's have a Republican here and a Democrat here. 611 00:31:12,920 --> 00:31:15,520 Speaker 1: Maybe let's live stream it on YouTube so everybody can watch, 612 00:31:16,120 --> 00:31:20,160 Speaker 1: and let's just recount them. That's it, Like, it doesn't 613 00:31:20,160 --> 00:31:22,640 Speaker 1: need to turn into this big, big political thing where 614 00:31:22,640 --> 00:31:23,840 Speaker 1: it's like, well, they're trying to use it for the 615 00:31:23,920 --> 00:31:27,040 Speaker 1: political game and they're trying to say there's impropriety. Just 616 00:31:27,280 --> 00:31:32,880 Speaker 1: recount them. The problem is when the Trump administration accuses 617 00:31:33,440 --> 00:31:39,360 Speaker 1: the Democratic Party of of of improprietaries and then they 618 00:31:39,640 --> 00:31:42,600 Speaker 1: want to shut it down, tell you to shut up, 619 00:31:42,960 --> 00:31:47,840 Speaker 1: tell you that it's false. Okay, Ripping out of man's 620 00:31:47,880 --> 00:31:51,680 Speaker 1: tongue does not prove that you're right. It only proves 621 00:31:51,720 --> 00:31:53,920 Speaker 1: you have something to hide. So the right thing to 622 00:31:54,000 --> 00:31:56,080 Speaker 1: do would have been, oh, well, I I see there's 623 00:31:56,080 --> 00:31:58,720 Speaker 1: all this stuff on the Internet that shows the improprieties. 624 00:31:58,800 --> 00:32:02,479 Speaker 1: Let's just recount it. And this same thing goes here. Um, 625 00:32:05,120 --> 00:32:08,240 Speaker 1: why not just recount it? Why not have it open 626 00:32:08,320 --> 00:32:11,640 Speaker 1: and fair? Why not have somebody from both parties there? 627 00:32:11,920 --> 00:32:13,840 Speaker 1: Why not have it live streamed on the internet. We 628 00:32:13,880 --> 00:32:16,720 Speaker 1: don't need technology. This can be done very low tech 629 00:32:16,840 --> 00:32:21,600 Speaker 1: for literally like almost no money. I'm pretty sure you 630 00:32:21,640 --> 00:32:24,360 Speaker 1: could get a Republican a Democrat party representative to go 631 00:32:24,480 --> 00:32:28,000 Speaker 1: there for free, to stream onto YouTube is basically free, 632 00:32:28,400 --> 00:32:32,600 Speaker 1: and we could just recount this thing. Okay, So again, 633 00:32:32,640 --> 00:32:34,080 Speaker 1: I don't want to make this. I don't want to 634 00:32:34,120 --> 00:32:39,280 Speaker 1: make this uh politically or partisan. Um, both sides should 635 00:32:39,360 --> 00:32:42,760 Speaker 1: want this. Both sides should want it. Going back to 636 00:32:42,960 --> 00:32:46,680 Speaker 1: the Trump Biden thing, if you know, one, if the 637 00:32:46,720 --> 00:32:50,320 Speaker 1: Trump administration said, you know, accused him of proprietaries and uh, 638 00:32:50,640 --> 00:32:53,120 Speaker 1: the Biden administration said, fine, let's just recount them, then 639 00:32:53,200 --> 00:32:55,400 Speaker 1: open it up. Let's let's go like that's what we 640 00:32:55,440 --> 00:32:57,640 Speaker 1: should want. And then if it was open and fair 641 00:32:57,760 --> 00:33:00,240 Speaker 1: and transparent everybody leaved it, then everybody could up it. 642 00:33:00,560 --> 00:33:04,040 Speaker 1: But when you censor and you shame and you and 643 00:33:04,120 --> 00:33:11,360 Speaker 1: you hide, then conspiracy theories run wild. Now it's so easy, 644 00:33:11,520 --> 00:33:14,239 Speaker 1: it's so cheap that you would think, why wouldn't they 645 00:33:14,280 --> 00:33:17,560 Speaker 1: do that, And the answer is because they don't want 646 00:33:17,640 --> 00:33:22,120 Speaker 1: you to know. Which is the problem and the bigger, 647 00:33:22,200 --> 00:33:23,880 Speaker 1: the bigger thing on this, and this goes back to 648 00:33:24,000 --> 00:33:28,720 Speaker 1: the decentralized revolution. We are losing trust in central controlled 649 00:33:28,880 --> 00:33:32,360 Speaker 1: entities because we know we can't trust them. That's why 650 00:33:32,440 --> 00:33:35,520 Speaker 1: we're losing faith and credibility in our central institutions, in 651 00:33:35,600 --> 00:33:40,080 Speaker 1: our central planners. If they would work to restore trust 652 00:33:40,360 --> 00:33:42,560 Speaker 1: and transparency, then we could trust them, but they don't. 653 00:33:43,600 --> 00:33:47,320 Speaker 1: Every time they try to censor, we lose trust. It's 654 00:33:47,360 --> 00:33:50,479 Speaker 1: not how you gain trust. If you thought your business 655 00:33:50,520 --> 00:33:52,640 Speaker 1: partner was embezzling from you and you said, hey, can 656 00:33:52,720 --> 00:33:54,520 Speaker 1: we sit down and go through some of these invoices 657 00:33:54,520 --> 00:33:56,400 Speaker 1: because I don't know what they are, and they said, oh, oh, 658 00:33:56,520 --> 00:33:58,320 Speaker 1: never mind that, never mind that you don't need to 659 00:33:58,320 --> 00:34:01,239 Speaker 1: look at that, then that makes me doubt him even more. 660 00:34:01,400 --> 00:34:03,040 Speaker 1: But if he said, oh, yeah, sure, let's sit down, Okay, 661 00:34:03,040 --> 00:34:05,320 Speaker 1: here's what we bought, then there's transparency and then I 662 00:34:05,360 --> 00:34:09,200 Speaker 1: can trust my partner again. So all of these calls 663 00:34:09,280 --> 00:34:12,840 Speaker 1: that you hear for censorship by one side of the 664 00:34:12,880 --> 00:34:17,560 Speaker 1: political Aisle. Every single time they call for more censorship, 665 00:34:17,719 --> 00:34:22,000 Speaker 1: it makes us lose more trust. Truth is found through 666 00:34:22,120 --> 00:34:27,040 Speaker 1: open and honest discussion and not through censorship. They want 667 00:34:27,040 --> 00:34:30,920 Speaker 1: to say it's misinformation. There probably wouldn't be misinformation or 668 00:34:31,000 --> 00:34:33,960 Speaker 1: as much misinformation if we had the truth and transparency. 669 00:34:35,320 --> 00:34:37,200 Speaker 1: The other thing I'm going to say about this political 670 00:34:37,280 --> 00:34:42,480 Speaker 1: this demock not the midterm elections that we had on 671 00:34:42,640 --> 00:34:47,000 Speaker 1: top of all these allegations of improprietaries that are just 672 00:34:47,120 --> 00:34:49,800 Speaker 1: shocking for me, and it's it's disheartening and it shows 673 00:34:49,840 --> 00:34:53,360 Speaker 1: that we're at the end of our central planned governments. 674 00:34:55,000 --> 00:34:57,640 Speaker 1: The other thing I would say is, I think everything 675 00:34:57,719 --> 00:35:00,600 Speaker 1: that you need to say about the political system, UM 676 00:35:00,960 --> 00:35:04,680 Speaker 1: and specifically the political system as well as these midterm elections. 677 00:35:05,239 --> 00:35:09,279 Speaker 1: I think the whole race is really summed up in 678 00:35:09,520 --> 00:35:13,279 Speaker 1: one state, and the state is in Pennsylvania. I think 679 00:35:13,360 --> 00:35:17,040 Speaker 1: everything we need to know basically is right there. You 680 00:35:17,239 --> 00:35:25,359 Speaker 1: have a doctor, um, a doctor who was um well 681 00:35:25,440 --> 00:35:30,279 Speaker 1: known and well liked. UM. You have he was, he 682 00:35:30,400 --> 00:35:33,320 Speaker 1: was well well liked. He he's a celebrity, right like 683 00:35:33,440 --> 00:35:35,879 Speaker 1: Donald Trump came to fame because he had a TV show. 684 00:35:35,920 --> 00:35:39,440 Speaker 1: He was a celebrity. UM. Doctor Oz was a celebrity, 685 00:35:39,520 --> 00:35:41,920 Speaker 1: he was well liked. There was trust there. He was 686 00:35:42,000 --> 00:35:45,520 Speaker 1: like promoted by Oprah. Everybody loves Oprah. Dr Oz is 687 00:35:45,840 --> 00:35:49,120 Speaker 1: good looking, and he's smart, and he's articulate, and he's 688 00:35:49,160 --> 00:35:54,120 Speaker 1: a doctor, right. People trusted them with their health because 689 00:35:54,160 --> 00:35:57,560 Speaker 1: he's a doctor all these things. And he ran against 690 00:35:57,600 --> 00:36:00,640 Speaker 1: a guy who can't even put a sense sense together 691 00:36:01,680 --> 00:36:03,400 Speaker 1: And I get it. That's mean to say because he 692 00:36:03,440 --> 00:36:05,040 Speaker 1: had a stroke. And I get it. He had a stroke, 693 00:36:05,080 --> 00:36:06,880 Speaker 1: and I feel bad for him, and I wish he 694 00:36:06,920 --> 00:36:09,440 Speaker 1: didn't have a stroke. But you're electing someone to be 695 00:36:09,560 --> 00:36:12,480 Speaker 1: your representative. And if you're electing someone to be your represented, 696 00:36:12,480 --> 00:36:13,880 Speaker 1: they should be able to go represent you, which means 697 00:36:13,880 --> 00:36:16,920 Speaker 1: they should be able to talk and have coherent sentences. 698 00:36:17,480 --> 00:36:20,080 Speaker 1: And the fact that a guy that can't put a 699 00:36:20,160 --> 00:36:21,759 Speaker 1: sentence together and I get it because he had a 700 00:36:21,800 --> 00:36:24,479 Speaker 1: stroke and I'm sorry, but he can't, And the fact 701 00:36:24,520 --> 00:36:28,600 Speaker 1: that he beat a very well liked celebrity doctor that's 702 00:36:28,719 --> 00:36:31,640 Speaker 1: articulate and smart says everything you need to know about 703 00:36:31,640 --> 00:36:34,360 Speaker 1: the election process. Now. Was it because there was massive 704 00:36:34,360 --> 00:36:38,000 Speaker 1: amounts of fraud and improprietaries, I don't know, Or was 705 00:36:38,080 --> 00:36:41,200 Speaker 1: it because people are so blind ideologically, they're just going 706 00:36:41,239 --> 00:36:45,279 Speaker 1: to vote for anybody because of party lines. Either case, 707 00:36:45,360 --> 00:36:49,960 Speaker 1: it doesn't matter. It sums up the entire state of politics. 708 00:36:50,160 --> 00:36:52,719 Speaker 1: And I don't want those people representing me, which is 709 00:36:52,760 --> 00:36:55,880 Speaker 1: why we're going back to a decentralized world and not 710 00:36:56,000 --> 00:36:58,000 Speaker 1: the centralized world that we have. If you're just tuning in, 711 00:36:58,040 --> 00:36:59,920 Speaker 1: you're listening to the Markma Show. We're talking about the 712 00:37:00,000 --> 00:37:03,520 Speaker 1: way the world is swinging from centralization to decentralization. These 713 00:37:03,560 --> 00:37:06,640 Speaker 1: are the signpost that we are witnessing and that's what 714 00:37:06,719 --> 00:37:09,120 Speaker 1: I got. Thanks so much for listening. Until next time.