Speaker 1: Hello, and welcome to another episode of the Mark Mos Show,
Speaker 1: where we talk about the decentralized revolution, the way the
Speaker 1: world is changing, and of course we look at it
Speaker 1: through the lens of politics, finance, and technology, and boy
Speaker 1: has it been a busy week. Now, I try to
Speaker 1: bring to you, you know, some educations you can really
Speaker 1: understand these things that are going on and look at
Speaker 1: them from different perspectives, some of the latest breaking news
Speaker 1: to keep you up to data on what's going on,
Speaker 1: and of course some interesting guests so you can hear
Speaker 1: different perspectives than just mine, although you know mine is
Speaker 1: the only perspective you need, but you know, bring some
Speaker 1: other perspectives for you here and there. I want to
Speaker 1: break down some of the latest breaking news that's been
Speaker 1: going on this week, because, like I said, there is
Speaker 1: a lot going on in this world and when we
Speaker 1: look at it, like I said, I'd like to look
Speaker 1: at the intersection of politics, finance and technology where those
Speaker 1: three come together, and we can see that there is
Speaker 1: a lot of things coming together. As a matter of fact,
Speaker 1: we can see um this week, we are getting closer
Speaker 1: to the c B d C. As we've been talking
Speaker 1: about for a long time of course, I'm talking about
Speaker 1: central bank digital currencies, which they're not really what they
Speaker 1: seem like at first glance. Um they are. You know,
Speaker 1: we already do digital transactions right about of all transactions
Speaker 1: are digital. But central bank digital currencies are much much
Speaker 1: different form for any number of reasons, one of which
Speaker 1: is of course that it's programmable money, So not only
Speaker 1: can they see what you do or freezerr bank counts,
Speaker 1: they can actually program it in advance what you're able
Speaker 1: to do with your money. So you eat too much
Speaker 1: red meat, you can't buy red meat. You don't save
Speaker 1: enough money will pay you good interest rates. You save
Speaker 1: too much money will hit you with a negative interest rate. Um, you,
Speaker 1: nothing good happens after midnight, so you can't spend your
Speaker 1: money after midnight. You know all those types of things.
Speaker 1: Oh you said mean things on the internet will hit
Speaker 1: you know, well, you can't spend your money either, things
Speaker 1: like that. And around the world we see that we're
Speaker 1: getting increasingly closer to central bank digital currencies, and in
Speaker 1: the United States is a very key issue for any
Speaker 1: number of reasons, one of which is that central banks,
Speaker 1: the Federal Reserve of the United States doesn't actually create money.
Speaker 1: The Federal Reserve when we talked about all the time
Speaker 1: like printing money, and you know, it's it's it's a
Speaker 1: good way to talk about it, but it's not really true.
Speaker 1: And so central banks create reserves and they give them
Speaker 1: to commercial banks think JP, Morgan City Bank, Bank of America, Wells, Fargo,
Speaker 1: et cetera. And so they give these reserves to the banks,
Speaker 1: and the banks create money. So actually the banks, the
Speaker 1: commercial banks, are the ones that create the money, and
Speaker 1: they do that through loans. So when they give you
Speaker 1: a loan for a house, of car, boat, whatever, that
Speaker 1: money is created into existence. And the other thing is
Speaker 1: that only the government has the ability to make money,
Speaker 1: not the federal reserve. Remember the Federal Reserve doesn't do it.
Speaker 1: The Federal Reserve gives it to the banks. And so
Speaker 1: if we had a central bank digital currency, and that
Speaker 1: would mean the central bank would be the one issuing money,
Speaker 1: but that's not the way our system works, and so
Speaker 1: there's all types of legal problems around this. Of course,
Speaker 1: you might understand that a lot of people don't like it.
Speaker 1: I don't like it. You certainly shouldn't like it. So
Speaker 1: we should definitely push back and fight against that There's
Speaker 1: also lots of lawmakers who don't like it because again,
Speaker 1: the government is the one supposed to have the rules
Speaker 1: over creating money, not the central bank, so it takes
Speaker 1: power away from the government. Also, the commercial banks don't
Speaker 1: like it because the commercial banks are the ones that
Speaker 1: are supposed to create the money, not the Federal Reserve. So,
Speaker 1: as you can see, this is a big change the
Speaker 1: way things work in the United States. Now. China has
Speaker 1: already rolled out their central bank digital currency, which of
Speaker 1: course makes sense because it's communist China, right. President ge
Speaker 1: basically runs the country by iron fist. But this is
Speaker 1: America supposed to work a different way. However, doesn't seem
Speaker 1: like it's going to be stopping what they're trying to do.
Speaker 1: As a matter of fact, we can see this week
Speaker 1: it says banking heavyweights commence wholesale digital dollar pilot with
Speaker 1: the New York Fed. So the way the Federals works
Speaker 1: is it's a it's a group of banks. The New
Speaker 1: York Fed is arguably the most important bank of all
Speaker 1: the banks in the FOTEOL Reserve, and it says here
Speaker 1: that a group of major major banks have commenced a
Speaker 1: pilot project alongside the FOTOL Reserve Bank of New York
Speaker 1: to test the feasibility of using tokens representing digital dollars
Speaker 1: to improve how central bank money is settled between institutions. Now,
Speaker 1: you know, there's such a thing as you know, the
Speaker 1: um slippery slope, right, I get the boiling pot that
Speaker 1: the frog that boiled in the pot or whatever where like,
Speaker 1: you know, let's just ease into it a little bit,
Speaker 1: and you know, let's just a little bit of a test,
Speaker 1: and nobody's really gonna object to this. And then before
Speaker 1: you know it, like you're a frog and you're literally
Speaker 1: in a boiling pot of water and you're dying, right,
Speaker 1: and so that's kind of what this is. Let's just
Speaker 1: test it right now. And right now it's just gonna
Speaker 1: be between banks. So it's not for the public. It doesn't,
Speaker 1: it doesn't, it doesn't really um, you know, it doesn't
Speaker 1: they violate any of those issues like I talked about,
Speaker 1: where you know, the government can make the money and
Speaker 1: it doesn't doesn't really take away the commercial banks ability
Speaker 1: to create money, because this is just for the Federal
Speaker 1: Reserve and this is between banks. Let's start there. Let's
Speaker 1: get them using that let's test it out, Let's see
Speaker 1: how it works. Let's let's get the let's get the
Speaker 1: public used to this idea. Let's warm them up in
Speaker 1: the pot. That's what it seems like it's going on.
Speaker 1: So we can see your city Bank, HSBC B and
Speaker 1: y Melon and Wells Fargo were among the banks taking part.
Speaker 1: But here's the crazy part. Along with so the banks City,
Speaker 1: HSBC B and y Melon and Wells Fargo, along with
Speaker 1: payments Giant master Card. But that's interesting because MasterCard is
Speaker 1: not a bank. MasterCard doesn't send money back and forth
Speaker 1: between banks, so that's pretty interesting. Um. It says here
Speaker 1: that it's a twelve week proof of concept pilot that
Speaker 1: will explore the use of an interoperable platform known as
Speaker 1: the Regulated Ability Network or r l N, where banks
Speaker 1: can issue tokens which are settled through simulated Central Bank
Speaker 1: money on a distributed ledger. The project will be conducted
Speaker 1: in a test environment using only simulated data. So it's
Speaker 1: a twelve week project and right now it's just a test,
Speaker 1: it's just simulated data. But why would they be testing
Speaker 1: it if they didn't want to roll it out? I mean,
Speaker 1: there was just no reason to create it or test
Speaker 1: it if you didn't want to use it. So, look,
Speaker 1: we know where this is going, right, We know this
Speaker 1: was going and says well, the majority of central banks
Speaker 1: are exploring the development of retail central bank digital currencies
Speaker 1: or CBDCs, forms of digital money for use by the public.
Speaker 1: Many are also engaged in pilots around wholesale CBDCs fee
Speaker 1: money in token form for exchange among financial institutions to
Speaker 1: improve existing clearing and settlement processes. So now we're just
Speaker 1: testing it and we'll see where it goes. But we
Speaker 1: know where that goes, and you need to be aware
Speaker 1: of the US. Now, in bigger news, we've been talking
Speaker 1: about the collapse of f t X melting down and
Speaker 1: it looks like it's have massive contagion. We see coin Base,
Speaker 1: which is a publicly traded company a cryptocurrency exchange, is
Speaker 1: taking a massive hit. Looks like Wall Street is going
Speaker 1: sour on it. The stock is down about forty below
Speaker 1: it's capitalized price, which is looking pretty far at the
Speaker 1: bond so if you look at the debt market, we
Speaker 1: can see that the price of coin based three point
Speaker 1: three seven five bond due is crashing down. And part
Speaker 1: of that reason is because if we look at the
Speaker 1: forward guidance of what we think coin Base can do
Speaker 1: as a company. So I've been talking about some of
Speaker 1: these regulations that could be coming in the crypto industry.
Speaker 1: If you've missed any of that, go check out the
Speaker 1: previous segments of the Markmas Show on your favorite podcast
Speaker 1: player or catch me on YouTube. But if the government
Speaker 1: really cracks down on regulations, then a company like coin
Speaker 1: base might have a problem because a company like coin
Speaker 1: base makes its profits off of you trading these cryptocurrencies.
Speaker 1: But if these cryptoqurencies are regulated as securities and most
Speaker 1: of them go away, and then let's a coin Base
Speaker 1: has to file as a securities platform and then probably
Speaker 1: pay fines for all of the securities unregistered securities they've
Speaker 1: been pedaling so far. That could have a massive hit
Speaker 1: to coin basis books and then severely crimp the ability
Speaker 1: to make money moving forward. At least I think now.
Speaker 1: Right now it's at about discount to where the capitalization
Speaker 1: should be. But I don't know if that's enough. We
Speaker 1: don't know the impact of if the regulations will be
Speaker 1: passed through, and if the regulations are passed through, how
Speaker 1: much will that affect both their cash positions as well
Speaker 1: as their ability to make money in the moving forward.
Speaker 1: But the markets are responding at least in this assessment
Speaker 1: here where bonds traded with the yield of around four
Speaker 1: or more. If you're just tuning and you're listening to
Speaker 1: the markma Show, we're talking kind about the decentralized revolution,
Speaker 1: breaking some of the latest breaking news of the week,
Speaker 1: so you can stay up to date, so you can
Speaker 1: sound like you know the smartest part, smartest person. That's
Speaker 1: your cocktail party this weekend. Um, just by tuning in
Speaker 1: and listening to me as I catch you up on
Speaker 1: all the big news. I got a lot more to
Speaker 1: discover to discuss when I come back, including with the economy,
Speaker 1: the education system, the political realm and more. I'll be
Speaker 1: back with all that and more in a minute. You
Speaker 1: do not want to miss what I have coming up next,
Speaker 1: so don't go away, all right, Welcome back. If you
Speaker 1: just tune in you're listening to the Mark Moss Show,
Speaker 1: we're talking about some of the biggest breaking news in
Speaker 1: the world in the realm of politics, finance, and technology
Speaker 1: are really the intersection of those things. As we witness
Speaker 1: the world swinging from centralization to decentralization, and I spent
Speaker 1: quite a bit of time on my other podcast segments
Speaker 1: talking about the crash of f t X and what
Speaker 1: that means for the greater um cryptocurrency market and financial
Speaker 1: market overall. I'm not gonna re act everything that I've
Speaker 1: been through, but I do want to rehash some of it,
Speaker 1: which is that a couple of things. Is one, you
Speaker 1: need to be aware that there is still probably quite
Speaker 1: a bit of contagion that could spread from here. So
Speaker 1: if you're in the cryptocurrency space at all, don't think
Speaker 1: that the worst is over. I think the worst might
Speaker 1: still be to come. Now. I don't know this for sure,
Speaker 1: but what happens is the smaller players go down first,
Speaker 1: and then it takes the bigger players, the bigger players,
Speaker 1: the bigger players, and so forth. And f t X
Speaker 1: is the second largest cryptocurrency exchange, but there's even bigger
Speaker 1: players or other similarly big players that are not exchanges,
Speaker 1: but they're in the mix. And so one of those
Speaker 1: is cryptocurrency lender Genesis, and Genesis is a company that's
Speaker 1: kind of behind the scenes and they work with all
Speaker 1: these companies um taking custody of their funds, holding them
Speaker 1: for them and providing liquidity by doing loans and things
Speaker 1: like that. And what we saw this week is that
Speaker 1: crypto lender Genesis had to suspend with draws after the
Speaker 1: ft X collapse. Because what happens is all of these
Speaker 1: people have um contagion. Right, they're all interrelated. They all
Speaker 1: have money here, money there, and so when they lose
Speaker 1: a big chunk of money here, that creates a problem
Speaker 1: over there. And the demise of f t X created
Speaker 1: an unprecedented turmoil for Genesis, says this article in the
Speaker 1: Wall Street Journal, causing the company's lending arm to be
Speaker 1: unable to meet their withdrawal request. Because what happens is
Speaker 1: it's called a bank run because it typically happens with banks,
Speaker 1: and now we're seeing it happen in the cryptocurrency space.
Speaker 1: But if you have money at a bank and then
Speaker 1: all of a sudden you doubt their ability to pay
Speaker 1: you that money back, you might want to go get
Speaker 1: your money out before they run out, right. You want
Speaker 1: to go before everybody else shows up to get their money.
Speaker 1: You want to make sure you get your money before
Speaker 1: they go out. And the same thing happens with these
Speaker 1: cryptocurrency markets is that people all of a sudden lose trust,
Speaker 1: They lose faith in their ability to get their money out,
Speaker 1: and so they say, hey, I want to be the
Speaker 1: first one to get my money out. And that's exactly
Speaker 1: what started happening with Genesis, is that so many people
Speaker 1: I wanted to get money out that they weren't able
Speaker 1: to meet all their withdrawal requests because no bank, I
Speaker 1: hate to break it to you, JP, Borgan or Wells Fargo,
Speaker 1: they don't have all your money in the bank. As
Speaker 1: a matter of fact, Go to your bank and try
Speaker 1: to pull out five thousand dollars of cash and see
Speaker 1: what that's like. I've done it many times. My bank
Speaker 1: tells me that I need to request the cash in
Speaker 1: advance because they just don't keep that much. And so
Speaker 1: um same thing happens with Genesis. You know, they don't
Speaker 1: have all that money sitting in cash. They have it
Speaker 1: in other assets, and so when a lot of people
Speaker 1: come to request it at the same time, they just
Speaker 1: don't have that laying around. They have to liquidate other
Speaker 1: positions and it takes time. And so they said that
Speaker 1: it's they told clients that it was suspending redemptions and
Speaker 1: new loan originations following the collapse of Exchange f t
Speaker 1: x um. It says that the trauma for Genesis caused
Speaker 1: the company's lending arm to be unable to meet all
Speaker 1: withdrawal requests, the company told clients. On a Wednesday call,
Speaker 1: the company said it would delivery plan next week for
Speaker 1: its lending business. So we don't know what's going to
Speaker 1: happen with that, but it's a big problem. Genesis had
Speaker 1: two point eight billion in active loans outstanding at the
Speaker 1: end of September. And who did they have those loans with?
Speaker 1: And this is what I'm talking about, contagion. Who were
Speaker 1: those loans with? Are those loans good? Can they collect
Speaker 1: on that? If they can't get that money, then what
Speaker 1: about the money that they owe back to other people.
Speaker 1: It all starts getting very, very very dirty. Now, Genesis
Speaker 1: was the one providing yield to Gemini, So if you
Speaker 1: have money with Gemini and you were using their earned product,
Speaker 1: you might have a problem there. Gemini says it's partners
Speaker 1: with borrowers who are vetted through our risk management framework
Speaker 1: which review our partners collateralization management process. So Gemini says
Speaker 1: they do good due diligence. Everybody does. The problem is
Speaker 1: when you start seeing a run on the banks and
Speaker 1: you see asset prices uh falling. All that collateral that
Speaker 1: you thought you had that was good all of a
Speaker 1: sudden doesn't turn out to be good. Now Gemini is
Speaker 1: potentially going to be in trouble from from this, and
Speaker 1: we don't know who else is. We saw another crypto
Speaker 1: lender called Salt had to pause all their withdraws on Tuesday,
Speaker 1: saying that the collapse of FTX had impacted their business.
Speaker 1: So I would just go out on a limb and
Speaker 1: I would just tell you that any crypto company that
Speaker 1: has any type of lending or borrowing or yield products
Speaker 1: is probably going to be caught up in this mix,
Speaker 1: does it Now? Does that mean they're gonna go out
Speaker 1: of business and not return your funds? No, it doesn't.
Speaker 1: But it's definitely a risk. And I don't know how
Speaker 1: to quantify that risk and neither do you. And so
Speaker 1: I would think about that any time you give your
Speaker 1: money to somebody else, there's a chance you don't get
Speaker 1: that money back. Now, some it is more of a
Speaker 1: ski than others. If you go find a homeless person
Speaker 1: on the street and give them their money, there's probably
Speaker 1: a very good chance you don't get that money back.
Speaker 1: There's a very high risk of that. If you give
Speaker 1: it to a f d I C insured in bank,
Speaker 1: the risk is very low, but there's still a risk,
Speaker 1: all right, and you're gonna get compensated for that risk,
Speaker 1: or you should be compensated for that risk. The problem
Speaker 1: that I have with these cryptocurrency products is that there's
Speaker 1: no way to quantify that risk. And so if I
Speaker 1: can't quantify that risk, if I don't know if it's
Speaker 1: four percent risk or eight percent risk or se risk,
Speaker 1: then I probably shouldn't be using those And so most
Speaker 1: people are starting to wake up to this, which is
Speaker 1: why they're going to get their money off of the exchanges,
Speaker 1: just like people would go and make a run on
Speaker 1: the bank and get their money of the bank. And
Speaker 1: so I would recommend to you, if you have any
Speaker 1: cryptocurrency on any exchange, pull it off. And why wouldn't you.
Speaker 1: The whole point of bitcoin or crypto is that I
Speaker 1: can custody those assets on my own. Now, if I
Speaker 1: wanted to store my money in cash, I have to
Speaker 1: put it under a mattress or put it in a
Speaker 1: safe fighting in gold, and have to go bury it
Speaker 1: in the dirt somewhere, build up a safe. If I
Speaker 1: had a lot of goal to have to build up
Speaker 1: a vault, and I'd have to hire security for it,
Speaker 1: but bitcoin doesn't require that. Bitcoin requires just a cryptographic
Speaker 1: security key. I recommend using something called cold storage, So
Speaker 1: you could use a hardware wallet like a treads or
Speaker 1: t R e z o R Treaser or a ledger.
Speaker 1: Those are hardware walls, like a little guess b drive. UM.
Speaker 1: I would recommend that you can also use like an
Speaker 1: app on your phone or in a computer. I don't
Speaker 1: recommend those as much, but you can do that for
Speaker 1: ease of use. But pull it off of the exchange.
Speaker 1: Why do you have it there to earn four percent?
Speaker 1: Is that four percent worth the risk of losing it all?
Speaker 1: I would say certainly not. Now this is going to
Speaker 1: cause even more run on the bank and more people
Speaker 1: are gonna go pull it out. It's gonna cause even
Speaker 1: more problems. But you don't want to be the last
Speaker 1: person trying to get your money off and find out
Speaker 1: that you can't get it off the exchange, so you
Speaker 1: go pull it off. With Genesis going down, this is
Speaker 1: going to cause a problem with all of these companies
Speaker 1: who didn't think they had problems. And like I said, specifically,
Speaker 1: if your exchange like Gemini, offers a yield product, a
Speaker 1: lending product or borrowing product, just consider they have exposure.
Speaker 1: Now again, it could be a little exposure like Gemini
Speaker 1: and they could eat it. No big deal, could be
Speaker 1: a lot of explosion, could take it down. We don't know.
Speaker 1: But why take the risk for four for six? I
Speaker 1: would say certainly not. If you're just tune in, you're
Speaker 1: listening to the Mark Moa show. We're talking about, you know,
Speaker 1: the decentralized revolution. We're talking about the financial industry being
Speaker 1: shaken up. It's crazy time right now. Now is the
Speaker 1: time to air on the side of caution, trying to
Speaker 1: alert to you the problems that are happening through the
Speaker 1: realm of politics, finance, and technology. I have a lot
Speaker 1: more to cover. I want to break into some stuff
Speaker 1: on the economy, what's gonna happen to you over Thanksgiving
Speaker 1: um and your travel. We'll talk about the education system,
Speaker 1: politics and more. You don't want to miss what I
Speaker 1: have mean up next. Don't go away. I'm gonna be
Speaker 1: right back after a short break. All right, welcome back.
Speaker 1: If you're just tune in, you're listening to the Mark
Speaker 1: Ma Show. We're talking about the decentralized revolution, the way
Speaker 1: the world is changing right now, rapidly before our very eyes.
Speaker 1: We've been talking about the financial system overall. I want
Speaker 1: to jump to a broader subject right now, and that
Speaker 1: is just the economy. Now, we have to understand the
Speaker 1: markets and the economy are not the same. So the
Speaker 1: economy is made up of businesses and that's your job,
Speaker 1: and that's your business, and that's goods and services. And
Speaker 1: then we have the market, which is you know, stock market,
Speaker 1: bond market, etcetera. Now they are not the same. Now,
Speaker 1: they kind of should be the same because typically you're
Speaker 1: investing your stocks, are buying companies, and the companies make
Speaker 1: up the markets, so they should I'm sorry, the companies
Speaker 1: that you're buying. The markets should represent the economy. That's
Speaker 1: the way it should work. However, now we're in this
Speaker 1: highly financialized economy where basically everything has become financialized, and
Speaker 1: we can see the disc connect. There's no greater illustration
Speaker 1: than just looking back till in March, the entire economy
Speaker 1: was shut down. Businesses that have been in business for
Speaker 1: decades were forced to shut down. Um, all the goods
Speaker 1: and service that were being made, the supply chains, they
Speaker 1: all broke. People were at home not working. However, when
Speaker 1: the economy shut down, the markets went on to make
Speaker 1: new highs. So how are markets? How are stock markets
Speaker 1: making new all time highs when the economy sets down?
Speaker 1: And that's because, of course there's a disconnect, right, so
Speaker 1: you have to understand that now. But let's take a
Speaker 1: look at the economy for a second so we can see.
Speaker 1: Here's a article that broke UM on the Wall Street
Speaker 1: Journal says that the this Thanksgiving, what prices to expect
Speaker 1: at the grocery store. And what we can see is
Speaker 1: that unfortunately, the cost of everything has been going up
Speaker 1: through the roof. Food has been going up, energy has
Speaker 1: been going up, and unfortunately your holiday meal is going
Speaker 1: up as well. Maybe this will change you wanted to
Speaker 1: go um or or how many people you host for
Speaker 1: for Thanksgiving. And it says the holiday meals costing American
Speaker 1: families about fourteen percent more this year due to higher
Speaker 1: prices of turkey, flower, eggs, and other staples. So you're
Speaker 1: gonna have to spend more money. Spent about fourteen percent
Speaker 1: more this year due to those higher prices. Now, there's
Speaker 1: a million reasons why they want to say this is happening.
Speaker 1: It says turkey prices have increased about thirty percent from
Speaker 1: a year ago, So turkey is up thirty So I
Speaker 1: guess it depends on how much turkey you have for Thanksgiving,
Speaker 1: depends on how much more you'll pay um. And there's
Speaker 1: any number of reasons why this happened. But inflation happens
Speaker 1: because we have too much money. So as the government
Speaker 1: continues to put more money, the existing dollars are worth
Speaker 1: less and less. So it's not that prices are going up.
Speaker 1: Is that the purchasing power of your dollar is going down,
Speaker 1: so those dollars are buying less good and services, So
Speaker 1: your dollars are buying less turkey than they did the
Speaker 1: year before. There's not the prices of turkey went up,
Speaker 1: is that the dollar went down. And if that's not
Speaker 1: bad enough, maybe you don't want to host a big
Speaker 1: Thanksgiving party at your house because you can't afford that increase.
Speaker 1: Maybe you'll just drive to go see your family. I
Speaker 1: believe Thanksgiving holiday is the largest travel holiday in the year.
Speaker 1: I didn't fact check that before I said that I
Speaker 1: think that's the case, but what we can see is
Speaker 1: that that's also going to be a problem because diesel
Speaker 1: hits a record premium over gas. As a matter of fact,
Speaker 1: um the price of diesel and gas are usually kind
Speaker 1: of somewhat the same. Sometimes diesel is a little bit
Speaker 1: more expensive. I believe that diesel is always supposed to
Speaker 1: be cheaper than gas because it's a lot cheaper to
Speaker 1: produce the diesel. But because we're in a diesel shortage,
Speaker 1: it's getting a massive premium over regular gas. Of course
Speaker 1: applying demand, so when you have more diesel needed than
Speaker 1: there is diesel available, it pushes the price up. Now,
Speaker 1: I did a whole video on why this is happening
Speaker 1: on my YouTube channel. It's got I think over one
Speaker 1: point two million views. If you haven't seen it, you're
Speaker 1: missing out. Just go search Mark Moss on YouTube and
Speaker 1: you can find that video I did on the diesel crisis,
Speaker 1: Why it's happening, how to solve it. I'm not gonna
Speaker 1: go super deep into that now, but I broke it
Speaker 1: down in about a twenty minute video if you want
Speaker 1: to go watch that. But basically, that is going to
Speaker 1: add to the cost of your turkey because some farm somewhere,
Speaker 1: a farmer has farm equipment that uses diesel gas, so
Speaker 1: his cost went up space to sell his stuff for more.
Speaker 1: Then that turkey that he sold probably went onto a
Speaker 1: diesel truck and got delivered to a plant that processed it,
Speaker 1: and that plant probably uses diesel fuel to run their equipment.
Speaker 1: And then it had to get onto another truck to
Speaker 1: get process sent to like a processing center, and then
Speaker 1: another truck to get sent to the grocery store. So
Speaker 1: when diesel goes up, all of those pieces go up,
Speaker 1: and all of those prices go up, and now you
Speaker 1: want to go You don't want to host Thanksgiving because
Speaker 1: the price too expensive. Now you want to go drive
Speaker 1: to a family member, or you want to hop on
Speaker 1: a plane or a train, Well, the price is going
Speaker 1: to go up on that as well. It says right
Speaker 1: here the price of fuel has risen about fifty percent
Speaker 1: this year alone. We have dwindling stockpiles. The video I
Speaker 1: talked about was that we had about less than twenty
Speaker 1: five days worth of diesel fuel available. And the reason
Speaker 1: why is we just can't make it fast enough. Now,
Speaker 1: why is that? Why can't we make it fast? If
Speaker 1: we never had a problem with diesel fuel before. Why
Speaker 1: are we having this problem all of a sudden. Well again,
Speaker 1: go watch that twenty minute VIEO I put together if
Speaker 1: you really want to understand it. But the highlight of it,
Speaker 1: if you want the short version of it, is that
Speaker 1: we're just not making enough of it in the US
Speaker 1: or the world. Now, you have to understand that it
Speaker 1: starts with oil, and then you take the oil, and
Speaker 1: the oil goes to a refinery, and then a refinery
Speaker 1: processes that oil and turns it into gasoline. So we
Speaker 1: need refineries. So you can obviously start with the oil.
Speaker 1: But the price of oils come to own. So if
Speaker 1: the price of oils come down, why is diesel going up?
Speaker 1: And that's because the refineries aren't able to make enough
Speaker 1: of it. Why aren't we able to make enough of it?
Speaker 1: We used to make enough of it, now we don't.
Speaker 1: And this is a question that you need to be
Speaker 1: asking yourself all the time. If you've been traveling, I
Speaker 1: traveled quite a bit. If you've been traveling like I have,
Speaker 1: you know that it's almost impossible for a plane to
Speaker 1: run on time anymore. But why is that they used
Speaker 1: to run on time? Now they just can't seem to
Speaker 1: run on time. Why is everything breaking down? Why did
Speaker 1: we used to be able to have reliable electricity and
Speaker 1: now in California we have rolling blackhouts in the summer
Speaker 1: like that didn't used to happen. Why. Well, the problem
Speaker 1: is because policies have created artificial problem. And so because
Speaker 1: of regulations and because of Joe Biden running on a
Speaker 1: policy he's saying literally as he come into the White
Speaker 1: House saying that he was going to shut energy companies down.
Speaker 1: He was going to shut oil companies down. He's denied
Speaker 1: any expansion to that. No oil company or refinery for
Speaker 1: that matter, wants to invest money back into the space
Speaker 1: into a space that they say they're going to be
Speaker 1: shut down in. So to start a refinery, it takes
Speaker 1: billions of dollars, It takes a decade to get up
Speaker 1: and right. It takes sometimes almost twenty years for it
Speaker 1: to produce a profit after they pay back everything. But
Speaker 1: why would you invest for ten years or twenty years
Speaker 1: into an industry where the president is literally telling you
Speaker 1: they're gonna shut you down. So there's no new investment.
Speaker 1: Now most of the refineries or some of the refiners
Speaker 1: are over one hundred years old. Over a years old,
Speaker 1: that's how old they are. So they're, as you can imagine,
Speaker 1: highly inefficient, and they break down a lot, So a
Speaker 1: lot of them have been shut down. There was one
Speaker 1: refinery that it needed repairs, but it was like a
Speaker 1: billion dollars in repairs, and nobody wants to put the
Speaker 1: billion dollars into it or to repair it, and so
Speaker 1: we're just losing refineries. The refineries are running, are being
Speaker 1: shut down. They can't be repaired, can't be restored. And
Speaker 1: then because the remaining ones that are there are working
Speaker 1: so hard now, they're running way over capacity. So refining,
Speaker 1: just like everything, should shut off once in a while,
Speaker 1: so they do maintenance and you do maintenance so it
Speaker 1: doesn't break down. But they can't shut them down to
Speaker 1: do maintenance because they need to run them all the time,
Speaker 1: which then causes even more problems. So that's a big problem.
Speaker 1: There's not an easy way out. If you'd like to
Speaker 1: understand more about that, Like I said, go watch the
Speaker 1: YouTube video I did about this. You know, the United
Speaker 1: States President Joe Biden has been slamming these companies, threatening
Speaker 1: the gas companies to lower gas prices. It's not them.
Speaker 1: They don't. They don't raise the prices gas. They only
Speaker 1: make a few cents per gallon of profit. It goes
Speaker 1: back to the refinery. The president of the CEO of
Speaker 1: Valero Major Energy Corps put out a putt a letter
Speaker 1: to the Governor of California, Gavin Newsom, saying, look, we're
Speaker 1: not coming on with any new refineries. The state of
Speaker 1: California has these strictest regulations against refineries, which is why
Speaker 1: they've all shut down, which is why the gas prices
Speaker 1: are so high. And we're not making any new ones
Speaker 1: because we're not going to invest into an into an
Speaker 1: industry where you said are going to shut us down.
Speaker 1: And so all this talk and rhetoric from Gavin Newsom,
Speaker 1: from Joe Biden saying it's these greedy oil companies and
Speaker 1: gas companies raising the prices. That's not the answer. Expect
Speaker 1: to pay much higher prices, not just for gas, but
Speaker 1: for everything because in the scenario I told you, everything
Speaker 1: has to be driven around, so you can expect more
Speaker 1: of that. If you're just tuning in you're listening to
Speaker 1: the markma Show, we're talking about the decentralized revolution, the
Speaker 1: way the world is changing through the lens of politics, finance,
Speaker 1: and technology. I got more to discuss to discuss. When
Speaker 1: we come back in a minute, you don't want to
Speaker 1: miss it. We're gonna be talking about the education system,
Speaker 1: the political system, and more. I'll be right back. Don't
Speaker 1: go away, all right, welcome back. If you're just tuning in,
Speaker 1: you're listening to the Mark Ma Show. We're talking about
Speaker 1: the latest breaking news around the world. As we look
Speaker 1: at the world transitioning from a world of centralization and
Speaker 1: central control to a world of decentralization, and we can
Speaker 1: see this from all different angles. Is just just I mean,
Speaker 1: so many you know, we just had the mid term
Speaker 1: elect is happening here in the United States, what we're
Speaker 1: being called maybe one of the most important elections that
Speaker 1: we're going to have, and I don't know every one
Speaker 1: of them is the most important, it seems like. And
Speaker 1: you know, I don't really like to discuss politics here
Speaker 1: on this show. I'd like to discuss politics only in
Speaker 1: so far as it relates to finance and technology, and
Speaker 1: so I like to look at the intersection. So typically
Speaker 1: I don't really discuss politics that much other than, like
Speaker 1: I said, policies and affect the economy. And our investments. However,
Speaker 1: I do want to talk about this election just a
Speaker 1: little bit. I'm not gonna dig in super deep, but
Speaker 1: I want to look at it from a couple of things,
Speaker 1: because there's two big things that really stand out to
Speaker 1: me from this election, from from a from a high level,
Speaker 1: and I think this is something that everybody should be
Speaker 1: aware of and everybody should be concerned about. The First
Speaker 1: thing that I would say is that here we are,
Speaker 1: We're through the election, and there's massive allegations of fraud,
Speaker 1: massive from from all over Okay, and both sides are
Speaker 1: alleging it. So I'm not going to make this partisan,
Speaker 1: all right, both sides are alleging it. We have fraud
Speaker 1: everywhere we have. People are saying, here's the article is
Speaker 1: calling a third world electorate. UM the electoral party we
Speaker 1: see here. American electoral system is suffering from a credibility crisis. UM.
Speaker 1: UM media calls Arizona's race for DEMS after the votes
Speaker 1: haven't even been counted and for some reason they still
Speaker 1: can't even count the votes. UM. Missing ballots are found
Speaker 1: in New Jersey County. UM. I mean, just all these
Speaker 1: allegations and I'm not gonna dig into them. I don't
Speaker 1: want to make this partisan, but here's what I want
Speaker 1: to say. There's all these allocations of fraud or improprieties
Speaker 1: or inconsistencies or whatever. This should not be that difficult.
Speaker 1: The reason why supposedly there's like this misinformation or what
Speaker 1: they want to call conspiracy theories is because there's no
Speaker 1: transparent And see, the way that you build trust is
Speaker 1: with truth, with transparency. If you don't believe something I'm saying,
Speaker 1: I'll prove it to you, right and then through that proof,
Speaker 1: you'll trust it. And if you call me out over
Speaker 1: and over and over and every single time I prove it,
Speaker 1: prove it, prove it, Eventually I'm gonna start gaining trust
Speaker 1: with you. Now, I understand right now, you're just listening
Speaker 1: to me. So I can't show you a lot of
Speaker 1: things that prove it to you. If you watch my
Speaker 1: YouTube channel, I always bring the proof. But when it
Speaker 1: comes to the election, let's go back to the last
Speaker 1: election cycle. The Trump administration said that the election was
Speaker 1: stolen from him from the buying a campaign. That's not
Speaker 1: a partisan thing. That's nothing new. Hillary Clinton said the
Speaker 1: election was stolen from her. Okay, look this happens almost
Speaker 1: all the time, so I'm not gonna make this a
Speaker 1: partis an issue. What I do want to say is
Speaker 1: that if in the in this last election we had
Speaker 1: the mid terms last week, if someone says, hey, these
Speaker 1: votes aren't right, it wasn't counted properly, it's very easy
Speaker 1: to fix this. We don't need technology. All we need
Speaker 1: is let's say, well, okay, let's just lay out the votes,
Speaker 1: and let's have a Republican here and a Democrat here.
Speaker 1: Maybe let's live stream it on YouTube so everybody can watch,
Speaker 1: and let's just recount them. That's it, Like, it doesn't
Speaker 1: need to turn into this big, big political thing where
Speaker 1: it's like, well, they're trying to use it for the
Speaker 1: political game and they're trying to say there's impropriety. Just
Speaker 1: recount them. The problem is when the Trump administration accuses
Speaker 1: the Democratic Party of of of improprietaries and then they
Speaker 1: want to shut it down, tell you to shut up,
Speaker 1: tell you that it's false. Okay, Ripping out of man's
Speaker 1: tongue does not prove that you're right. It only proves
Speaker 1: you have something to hide. So the right thing to
Speaker 1: do would have been, oh, well, I I see there's
Speaker 1: all this stuff on the Internet that shows the improprieties.
Speaker 1: Let's just recount it. And this same thing goes here. Um,
Speaker 1: why not just recount it? Why not have it open
Speaker 1: and fair? Why not have somebody from both parties there?
Speaker 1: Why not have it live streamed on the internet. We
Speaker 1: don't need technology. This can be done very low tech
Speaker 1: for literally like almost no money. I'm pretty sure you
Speaker 1: could get a Republican a Democrat party representative to go
Speaker 1: there for free, to stream onto YouTube is basically free,
Speaker 1: and we could just recount this thing. Okay, So again,
Speaker 1: I don't want to make this. I don't want to
Speaker 1: make this uh politically or partisan. Um, both sides should
Speaker 1: want this. Both sides should want it. Going back to
Speaker 1: the Trump Biden thing, if you know, one, if the
Speaker 1: Trump administration said, you know, accused him of proprietaries and uh,
Speaker 1: the Biden administration said, fine, let's just recount them, then
Speaker 1: open it up. Let's let's go like that's what we
Speaker 1: should want. And then if it was open and fair
Speaker 1: and transparent everybody leaved it, then everybody could up it.
Speaker 1: But when you censor and you shame and you and
Speaker 1: you hide, then conspiracy theories run wild. Now it's so easy,
Speaker 1: it's so cheap that you would think, why wouldn't they
Speaker 1: do that, And the answer is because they don't want
Speaker 1: you to know. Which is the problem and the bigger,
Speaker 1: the bigger thing on this, and this goes back to
Speaker 1: the decentralized revolution. We are losing trust in central controlled
Speaker 1: entities because we know we can't trust them. That's why
Speaker 1: we're losing faith and credibility in our central institutions, in
Speaker 1: our central planners. If they would work to restore trust
Speaker 1: and transparency, then we could trust them, but they don't.
Speaker 1: Every time they try to censor, we lose trust. It's
Speaker 1: not how you gain trust. If you thought your business
Speaker 1: partner was embezzling from you and you said, hey, can
Speaker 1: we sit down and go through some of these invoices
Speaker 1: because I don't know what they are, and they said, oh, oh,
Speaker 1: never mind that, never mind that you don't need to
Speaker 1: look at that, then that makes me doubt him even more.
Speaker 1: But if he said, oh, yeah, sure, let's sit down, Okay,
Speaker 1: here's what we bought, then there's transparency and then I
Speaker 1: can trust my partner again. So all of these calls
Speaker 1: that you hear for censorship by one side of the
Speaker 1: political Aisle. Every single time they call for more censorship,
Speaker 1: it makes us lose more trust. Truth is found through
Speaker 1: open and honest discussion and not through censorship. They want
Speaker 1: to say it's misinformation. There probably wouldn't be misinformation or
Speaker 1: as much misinformation if we had the truth and transparency.
Speaker 1: The other thing I'm going to say about this political
Speaker 1: this demock not the midterm elections that we had on
Speaker 1: top of all these allegations of improprietaries that are just
Speaker 1: shocking for me, and it's it's disheartening and it shows
Speaker 1: that we're at the end of our central planned governments.
Speaker 1: The other thing I would say is, I think everything
Speaker 1: that you need to say about the political system, UM
Speaker 1: and specifically the political system as well as these midterm elections.
Speaker 1: I think the whole race is really summed up in
Speaker 1: one state, and the state is in Pennsylvania. I think
Speaker 1: everything we need to know basically is right there. You
Speaker 1: have a doctor, um, a doctor who was um well
Speaker 1: known and well liked. UM. You have he was, he
Speaker 1: was well well liked. He he's a celebrity, right like
Speaker 1: Donald Trump came to fame because he had a TV show.
Speaker 1: He was a celebrity. UM. Doctor Oz was a celebrity,
Speaker 1: he was well liked. There was trust there. He was
Speaker 1: like promoted by Oprah. Everybody loves Oprah. Dr Oz is
Speaker 1: good looking, and he's smart, and he's articulate, and he's
Speaker 1: a doctor, right. People trusted them with their health because
Speaker 1: he's a doctor all these things. And he ran against
Speaker 1: a guy who can't even put a sense sense together
Speaker 1: And I get it. That's mean to say because he
Speaker 1: had a stroke. And I get it. He had a stroke,
Speaker 1: and I feel bad for him, and I wish he
Speaker 1: didn't have a stroke. But you're electing someone to be
Speaker 1: your representative. And if you're electing someone to be your represented,
Speaker 1: they should be able to go represent you, which means
Speaker 1: they should be able to talk and have coherent sentences.
Speaker 1: And the fact that a guy that can't put a
Speaker 1: sentence together and I get it because he had a
Speaker 1: stroke and I'm sorry, but he can't, And the fact
Speaker 1: that he beat a very well liked celebrity doctor that's
Speaker 1: articulate and smart says everything you need to know about
Speaker 1: the election process. Now. Was it because there was massive
Speaker 1: amounts of fraud and improprietaries, I don't know, Or was
Speaker 1: it because people are so blind ideologically, they're just going
Speaker 1: to vote for anybody because of party lines. Either case,
Speaker 1: it doesn't matter. It sums up the entire state of politics.
Speaker 1: And I don't want those people representing me, which is
Speaker 1: why we're going back to a decentralized world and not
Speaker 1: the centralized world that we have. If you're just tuning in,
Speaker 1: you're listening to the Markma Show. We're talking about the
Speaker 1: way the world is swinging from centralization to decentralization. These
Speaker 1: are the signpost that we are witnessing and that's what
Speaker 1: I got. Thanks so much for listening. Until next time.