1 00:00:00,000 --> 00:00:02,360 Speaker 1: Hello, and welcome to another episode of the Mark Moa 2 00:00:02,520 --> 00:00:05,880 Speaker 1: Show where we talk about bitcoin and cryptocurrencies. We're really 3 00:00:05,920 --> 00:00:09,400 Speaker 1: talking about this decentralized revolution the world is going through, UM. 4 00:00:09,440 --> 00:00:12,920 Speaker 1: And we talk about politics, finance, and technology and really 5 00:00:12,920 --> 00:00:15,720 Speaker 1: the intersection of those three things. So you can really 6 00:00:15,800 --> 00:00:20,440 Speaker 1: understand how bitcoin, cryptocurrencies and how this decentralized revolution is 7 00:00:20,720 --> 00:00:24,239 Speaker 1: moving through the world house changing the world, UM, how 8 00:00:24,360 --> 00:00:26,960 Speaker 1: you should be interacting with it, how you should be 9 00:00:27,000 --> 00:00:31,520 Speaker 1: adjusting your portfolios, and so much more. Now, this week, 10 00:00:31,840 --> 00:00:34,320 Speaker 1: I got a lot of stuff to cover, and I 11 00:00:34,360 --> 00:00:37,639 Speaker 1: want to cover some stuff that's completely shocking to me. 12 00:00:38,720 --> 00:00:41,479 Speaker 1: And uh, maybe it's shocking to you. Well, maybe it's 13 00:00:41,520 --> 00:00:43,120 Speaker 1: not shocking to you now, but it will be by 14 00:00:43,159 --> 00:00:46,120 Speaker 1: the time we are done with this. And I'm talking 15 00:00:46,159 --> 00:00:52,560 Speaker 1: about the United States Treasury Secretary. I'm talking about Janet Yellen, 16 00:00:53,200 --> 00:00:57,040 Speaker 1: the Treasury Secretary of the United States, the person who 17 00:00:57,120 --> 00:00:59,840 Speaker 1: runs the money for the United States, comes out and says, quote, 18 00:00:59,840 --> 00:01:04,440 Speaker 1: I was wrong. I was wrong on inflation. I didn't 19 00:01:04,440 --> 00:01:08,440 Speaker 1: see it coming. Which is funny because for years myself 20 00:01:08,959 --> 00:01:11,559 Speaker 1: and many others, I said if you do these things, 21 00:01:11,560 --> 00:01:13,480 Speaker 1: this is what will happen. Here. We are they're admitting 22 00:01:13,480 --> 00:01:16,959 Speaker 1: they're wrong. UM, it's gonna be incredible for you to 23 00:01:17,080 --> 00:01:19,320 Speaker 1: see this. Once I break all of this down for you, 24 00:01:20,120 --> 00:01:23,319 Speaker 1: we're gonna get into what their plans are and uh 25 00:01:23,600 --> 00:01:26,920 Speaker 1: if I think that's going to make things better or worse, um, 26 00:01:27,280 --> 00:01:30,160 Speaker 1: some of the causes and more importantly, the effects that 27 00:01:30,200 --> 00:01:32,440 Speaker 1: people are dealing with. UM. And then I want to 28 00:01:32,480 --> 00:01:34,880 Speaker 1: show you what's happening in some other countries right now, 29 00:01:35,120 --> 00:01:38,800 Speaker 1: which really highlights exactly what's going to be happening here 30 00:01:38,840 --> 00:01:41,520 Speaker 1: in the United States. And it's not good. But you're 31 00:01:41,520 --> 00:01:45,000 Speaker 1: getting to get the upfront information before everybody else, so 32 00:01:45,080 --> 00:01:50,320 Speaker 1: you can make the plans two you know, alleviate some 33 00:01:50,360 --> 00:01:53,200 Speaker 1: of this for yourself, for your family, for your friends, 34 00:01:53,200 --> 00:01:57,120 Speaker 1: et cetera. So we'll talk about that and uh, man, 35 00:01:57,160 --> 00:01:58,440 Speaker 1: I got a lot to cover, so let's just go 36 00:01:58,440 --> 00:02:00,880 Speaker 1: ahead and jump right into it. So, like I said, 37 00:02:00,880 --> 00:02:03,120 Speaker 1: this big headline I saw this week, Well, obviously the 38 00:02:03,120 --> 00:02:05,760 Speaker 1: big headline we've been talking about for for a long 39 00:02:05,800 --> 00:02:08,800 Speaker 1: time now is inflation. And we talk about inflation, and 40 00:02:08,880 --> 00:02:10,480 Speaker 1: of course, now Mark, what do you why are we 41 00:02:10,480 --> 00:02:13,440 Speaker 1: talking about inflation? How does that lead into bitcoin? Howsn't 42 00:02:13,480 --> 00:02:15,360 Speaker 1: leading to cryptocurrencies. How does it how how does that 43 00:02:15,400 --> 00:02:19,040 Speaker 1: part of this decentralized revolution. Well, he'll understand when we 44 00:02:19,080 --> 00:02:23,040 Speaker 1: put this all together. Um, we have like a pendulum 45 00:02:23,080 --> 00:02:28,120 Speaker 1: swinging back and forth. The pendulum swings between centralization and 46 00:02:28,440 --> 00:02:31,280 Speaker 1: decentralization on about a two d and fifty year timeframe, 47 00:02:31,600 --> 00:02:34,120 Speaker 1: and so the world has been the pendulum is swinging 48 00:02:34,160 --> 00:02:39,400 Speaker 1: towards centralization. Um. And that's led by central planners, where 49 00:02:39,960 --> 00:02:42,720 Speaker 1: a few people in a room in Washington or in 50 00:02:42,840 --> 00:02:46,919 Speaker 1: Davos think they know better than three d and fifty 51 00:02:46,960 --> 00:02:50,240 Speaker 1: million people in the United States or eight billion people 52 00:02:50,240 --> 00:02:53,639 Speaker 1: in the world. These couple of people, these dozens of people, 53 00:02:53,880 --> 00:02:57,440 Speaker 1: these central planners are coming up with central plans to 54 00:02:57,960 --> 00:03:02,359 Speaker 1: centrally plan and centrally control the entire world economy, which 55 00:03:02,360 --> 00:03:06,640 Speaker 1: should be decentralized. Because what I want, what I need, 56 00:03:07,040 --> 00:03:10,359 Speaker 1: what I like, what my interests are are different than yours, 57 00:03:10,520 --> 00:03:14,160 Speaker 1: and they change. We're humans. I love Anela ice cream 58 00:03:14,200 --> 00:03:15,760 Speaker 1: all of a sudden today I want chocolate. I don't 59 00:03:15,800 --> 00:03:18,200 Speaker 1: know why, I just do. That's how it works. Trends 60 00:03:18,240 --> 00:03:20,400 Speaker 1: go in and out. We used to like Neon colors, 61 00:03:20,480 --> 00:03:23,240 Speaker 1: then we like Pastel's. Well, now Neon's back in right. 62 00:03:23,320 --> 00:03:26,919 Speaker 1: Like things change, trend change, technology changes, new things come 63 00:03:26,960 --> 00:03:30,480 Speaker 1: to creative destruction creates new things, and old things go away. 64 00:03:31,639 --> 00:03:35,200 Speaker 1: The the the global economy is not like a machine 65 00:03:35,240 --> 00:03:38,560 Speaker 1: that can be built, managed and ran. Instead, it's organic. 66 00:03:38,680 --> 00:03:41,760 Speaker 1: It's made up of people that all have shifting once 67 00:03:41,760 --> 00:03:44,720 Speaker 1: needs and desires, and so it's it's organic and it's complex, 68 00:03:44,760 --> 00:03:51,040 Speaker 1: it's dynamic, and so central planning always fails because of 69 00:03:51,680 --> 00:03:55,680 Speaker 1: many reasons, specifically the information problem. There's not enough information 70 00:03:55,680 --> 00:03:57,760 Speaker 1: that twelve people or a few dozen people can get 71 00:03:59,040 --> 00:04:02,839 Speaker 1: to know what you're going to want in a couple 72 00:04:02,880 --> 00:04:04,200 Speaker 1: of days, a couple of weeks and once or a 73 00:04:04,200 --> 00:04:06,120 Speaker 1: couple of years from now, and so the markets have 74 00:04:06,160 --> 00:04:08,000 Speaker 1: to move organically. And so we're talking about this this 75 00:04:08,280 --> 00:04:11,800 Speaker 1: we've had this swing towards centralization. It's obviously very easy 76 00:04:11,840 --> 00:04:15,720 Speaker 1: to see that we're there. We have the World Economic Forum, 77 00:04:15,760 --> 00:04:18,400 Speaker 1: the people in Davos that are setting UH basically the 78 00:04:18,480 --> 00:04:21,240 Speaker 1: central planning for the entire world UH, the world like 79 00:04:21,279 --> 00:04:23,599 Speaker 1: I'M Forum, backed up by the World Health Organization, the 80 00:04:23,600 --> 00:04:26,719 Speaker 1: World Trade Organization. Of course, the i m F setting 81 00:04:26,720 --> 00:04:30,120 Speaker 1: the banking policies for the world. The u N very 82 00:04:30,160 --> 00:04:32,520 Speaker 1: easy to see how this is playing out. Of course, 83 00:04:32,560 --> 00:04:35,839 Speaker 1: they call them central banks that are essentially planning the 84 00:04:36,000 --> 00:04:41,719 Speaker 1: entire uh in the entire economy for nations. So that's centralization. 85 00:04:41,920 --> 00:04:45,320 Speaker 1: The pendulum is peaking out there. However, on a tune 86 00:04:45,400 --> 00:04:47,919 Speaker 1: for your time frame, it it swings back. And so 87 00:04:48,000 --> 00:04:49,960 Speaker 1: here we are. We can see this is failing. We 88 00:04:49,960 --> 00:04:52,880 Speaker 1: can see it's real. It's being rejected. And I'm gonna 89 00:04:52,880 --> 00:04:54,440 Speaker 1: break all this down for you today. And of course 90 00:04:54,440 --> 00:04:58,120 Speaker 1: bitcoin is a new technology, this new technological revolution that 91 00:04:58,200 --> 00:05:02,720 Speaker 1: gives us what decentralization. So at a time when the 92 00:05:02,760 --> 00:05:05,599 Speaker 1: world is ready to pivot back off of centralization because 93 00:05:05,600 --> 00:05:08,680 Speaker 1: of all these problems, and I'm gonna walk through them here. Um, 94 00:05:08,760 --> 00:05:11,080 Speaker 1: we're given a new technological revolution at the same time 95 00:05:11,120 --> 00:05:14,200 Speaker 1: that gives us decentralization that will only speed this up. 96 00:05:14,200 --> 00:05:17,400 Speaker 1: And if you can understand how all this comes together together, 97 00:05:17,920 --> 00:05:20,680 Speaker 1: you can navigate it properly. So looking, let's just jump 98 00:05:20,760 --> 00:05:23,440 Speaker 1: right into this. So Yelling says I was wrong last 99 00:05:23,520 --> 00:05:28,760 Speaker 1: year on the path of US inflation. Um surprise, surprise, surprise. 100 00:05:28,760 --> 00:05:32,080 Speaker 1: Tactury Secretary Janet Yellen gave her most directed mission that 101 00:05:32,160 --> 00:05:35,839 Speaker 1: she aired last week in predicting the elevated inflation wouldn't 102 00:05:35,880 --> 00:05:41,000 Speaker 1: pose a continuing problem. She says, quote, there have been 103 00:05:41,360 --> 00:05:46,279 Speaker 1: unanticipated and large shocks to the economy that have boosted 104 00:05:46,360 --> 00:05:48,839 Speaker 1: energy and food prices and supply bottlenecks that have affected 105 00:05:48,839 --> 00:05:52,680 Speaker 1: our economy badly that at the time I didn't fully 106 00:05:52,800 --> 00:05:59,720 Speaker 1: understand end quote. So there was unanticipated and large shocks 107 00:05:59,720 --> 00:06:02,600 Speaker 1: to the economy that have boosted energy and food prices 108 00:06:03,440 --> 00:06:06,560 Speaker 1: and supply bottlenecks. Let's talk about this, Um I was wrong. 109 00:06:07,800 --> 00:06:13,080 Speaker 1: Where they really unanticipated? Uh maybe anticipated by her? I 110 00:06:13,160 --> 00:06:16,320 Speaker 1: anticipated them. I've been talking about them for years, and 111 00:06:16,400 --> 00:06:19,600 Speaker 1: not just me. One of my favorite economists, uh Leadwig 112 00:06:19,680 --> 00:06:23,360 Speaker 1: von mess from the Austrian School Economics told us this 113 00:06:23,440 --> 00:06:25,480 Speaker 1: was going to be a problem a hundred years ago. 114 00:06:26,040 --> 00:06:29,400 Speaker 1: He called it the crack up boom, and he talks 115 00:06:29,400 --> 00:06:32,240 Speaker 1: about when the government's go create a bunch of money, 116 00:06:32,760 --> 00:06:35,760 Speaker 1: it starts to distort markets in a bunch of different ways, 117 00:06:35,760 --> 00:06:38,320 Speaker 1: and we don't understand all the ways. And so to 118 00:06:38,360 --> 00:06:41,520 Speaker 1: her point, you can't anticipate all the distortions in the 119 00:06:41,520 --> 00:06:43,720 Speaker 1: market that will come from this, but we do know 120 00:06:43,800 --> 00:06:47,520 Speaker 1: that it distorts the market, so we should anticipate a 121 00:06:47,560 --> 00:06:51,200 Speaker 1: bunch of problems down the road. Exactly how that fills in, 122 00:06:51,240 --> 00:06:54,040 Speaker 1: we don't exactly know, but large octical economy that have 123 00:06:54,120 --> 00:07:00,560 Speaker 1: boosted energy and food prices, and that's not necessarily something 124 00:07:00,640 --> 00:07:02,560 Speaker 1: that they could have anticipated when you're looking at it 125 00:07:02,560 --> 00:07:05,000 Speaker 1: from the Treasury or the Federal Reserve side, because these 126 00:07:05,040 --> 00:07:08,000 Speaker 1: policies are being done outside of that. I want to 127 00:07:08,040 --> 00:07:09,720 Speaker 1: break this down for you here in a little bit. 128 00:07:10,120 --> 00:07:12,200 Speaker 1: She wanted to say that Yelling said that the FED 129 00:07:12,320 --> 00:07:17,280 Speaker 1: is taking the steps it needs to stem inflation. But 130 00:07:17,320 --> 00:07:19,840 Speaker 1: what steps are those? How can they take steps to 131 00:07:19,840 --> 00:07:23,400 Speaker 1: stem those inflation if the Fed and the Treasury don't 132 00:07:23,400 --> 00:07:26,680 Speaker 1: have any control over that, but they're doing anything they 133 00:07:26,680 --> 00:07:28,800 Speaker 1: can drastically to try to stem that. Because it says 134 00:07:28,800 --> 00:07:32,320 Speaker 1: here public support for Biden on handling the economy has 135 00:07:32,360 --> 00:07:36,800 Speaker 1: created with a surge in the cost of living, people 136 00:07:36,840 --> 00:07:39,080 Speaker 1: are freaking out. People can't afford it. I'm gonna talk 137 00:07:39,080 --> 00:07:40,600 Speaker 1: about some of the pain that's happening. As a matter 138 00:07:40,640 --> 00:07:43,600 Speaker 1: of fact, it's having drastic consequences that maybe I was 139 00:07:43,720 --> 00:07:45,680 Speaker 1: I was surprised to see this number come on. Talking 140 00:07:45,680 --> 00:07:48,040 Speaker 1: about that in a second. But Um says that Yelling 141 00:07:48,160 --> 00:07:51,560 Speaker 1: noted that European countries have recently taken steps to limit 142 00:07:51,840 --> 00:07:55,680 Speaker 1: their imports to Russian oil, a move that has caused 143 00:07:55,720 --> 00:08:00,000 Speaker 1: global oil prices derived. So let's think about that. UM. 144 00:08:00,120 --> 00:08:03,800 Speaker 1: I think any elementary kid that economics one O one 145 00:08:04,240 --> 00:08:09,200 Speaker 1: supply and demand. So let's see if we need oil 146 00:08:09,560 --> 00:08:13,280 Speaker 1: for everything. Um, it goes into all of our products. UM, 147 00:08:13,360 --> 00:08:16,240 Speaker 1: it goes into all of our transportation. UM. You can't 148 00:08:16,240 --> 00:08:19,360 Speaker 1: get food at the grocery store without oil because the 149 00:08:19,360 --> 00:08:21,160 Speaker 1: trucks needed to get there. It's it goes into all 150 00:08:21,160 --> 00:08:24,960 Speaker 1: the products, etcetera. So we need it. Um, if you 151 00:08:25,680 --> 00:08:27,840 Speaker 1: limit it or you get less of it, what happens? 152 00:08:27,880 --> 00:08:31,560 Speaker 1: All the price goes up? Interesting? Um? So she said, yell, 153 00:08:31,560 --> 00:08:33,480 Speaker 1: and know that European countries have recently taken steps to 154 00:08:33,600 --> 00:08:37,760 Speaker 1: limit their imports, and so they're taking steps to cut 155 00:08:37,880 --> 00:08:41,120 Speaker 1: the supply. So again, what was econical one on? If 156 00:08:41,120 --> 00:08:46,280 Speaker 1: we cut the supply but the demand stays there, what happens? 157 00:08:46,880 --> 00:08:49,240 Speaker 1: The price goes up? Come on? Like come on? Really? 158 00:08:49,559 --> 00:08:54,440 Speaker 1: So yes, that causes the oil prices to rise. Now 159 00:08:54,520 --> 00:08:57,920 Speaker 1: going back to what was this earlier statement? Here says 160 00:08:57,960 --> 00:09:00,760 Speaker 1: that yelling said the feed is taking steps or no? 161 00:09:00,960 --> 00:09:03,839 Speaker 1: Or was it here? Oh? Uh? Quote unanticipated in large 162 00:09:03,840 --> 00:09:07,440 Speaker 1: shocks to the economy that have boosted energy and food prices. 163 00:09:08,640 --> 00:09:12,240 Speaker 1: So these are unanticipated large shocks energy and food price 164 00:09:12,320 --> 00:09:17,720 Speaker 1: those unanticipated. So like it says right here that um 165 00:09:17,840 --> 00:09:20,200 Speaker 1: Yelling noted that European countries have recently taken steps to 166 00:09:20,280 --> 00:09:23,080 Speaker 1: limit their imports on Russian oil. So is that unanticipated? 167 00:09:23,679 --> 00:09:27,000 Speaker 1: She's saying that European countries are taking steps to limit 168 00:09:27,480 --> 00:09:31,760 Speaker 1: their import of oil. She's saying that, Now, what would 169 00:09:31,760 --> 00:09:35,800 Speaker 1: be the intended consequence of that. You're listening to the 170 00:09:35,800 --> 00:09:38,080 Speaker 1: Markma Show. We're talking about bitcoin and cryptocurrencies. I'm gonna 171 00:09:38,080 --> 00:09:39,440 Speaker 1: be back with a whole lot more in a second. 172 00:09:39,440 --> 00:09:41,800 Speaker 1: Don't go away, all right, welcome back. You're listening to 173 00:09:41,840 --> 00:09:44,760 Speaker 1: the Markma Show. We're talking about We're talking about bitcoin, 174 00:09:44,800 --> 00:09:47,960 Speaker 1: We're talking about cryptocurrencies. We're talking about the decentralized revolution. 175 00:09:48,000 --> 00:09:51,600 Speaker 1: We're discussing the intersection of politics, finance, and technology, so 176 00:09:51,640 --> 00:09:54,640 Speaker 1: we can get this all into context that we can understand. 177 00:09:54,720 --> 00:10:00,319 Speaker 1: We're specifically talking about crazy high raging and for nation, 178 00:10:01,040 --> 00:10:04,839 Speaker 1: record level inflation and the panic that it's causing. It's 179 00:10:04,920 --> 00:10:07,920 Speaker 1: it's causing panic both in households that can't afford food 180 00:10:07,920 --> 00:10:09,760 Speaker 1: and energy anymore. You can't afoord gas in your car. 181 00:10:10,040 --> 00:10:14,000 Speaker 1: But it's also causing panic across the leadership, specifically United 182 00:10:14,000 --> 00:10:17,200 Speaker 1: States and the rest of the world because they realize, like, shoot, 183 00:10:17,400 --> 00:10:20,400 Speaker 1: if we don't get this under control, we're gonna lose 184 00:10:21,040 --> 00:10:24,360 Speaker 1: the election. Right, that's what they care about. UM and uh, 185 00:10:24,440 --> 00:10:26,520 Speaker 1: you know what what we're talking about that and so 186 00:10:26,559 --> 00:10:28,240 Speaker 1: you can understand it and you can navigate it correctly. 187 00:10:28,280 --> 00:10:30,920 Speaker 1: But what's interesting is this this uh, this week, it's 188 00:10:31,000 --> 00:10:33,560 Speaker 1: it's the topic of the week. It's it's actually been 189 00:10:33,559 --> 00:10:35,080 Speaker 1: the topic for a couple of months. I've talked about 190 00:10:35,080 --> 00:10:37,560 Speaker 1: it quite extensively. But Janet Yellen, who's the head of 191 00:10:37,600 --> 00:10:41,440 Speaker 1: the US Treasury, the Treasury Secretary, Janet Eellen, and she 192 00:10:41,480 --> 00:10:43,840 Speaker 1: came out and said that I was wrong. I was 193 00:10:43,880 --> 00:10:47,280 Speaker 1: wrong about the path inflation would take. There was unanticipated 194 00:10:47,880 --> 00:10:50,679 Speaker 1: shocks to the economy that boosted energy and food prices. 195 00:10:50,720 --> 00:10:54,320 Speaker 1: There's anticipated. But then she said that, um, down here, 196 00:10:55,559 --> 00:11:03,240 Speaker 1: that that it's she said that the European countries have 197 00:11:03,520 --> 00:11:06,559 Speaker 1: taken steps to limit their oil of oil, and so 198 00:11:06,960 --> 00:11:09,600 Speaker 1: how is it how is it unanticipated? When she said 199 00:11:09,600 --> 00:11:14,560 Speaker 1: they're gonna limit their imports because wouldn't you anticipate that 200 00:11:14,679 --> 00:11:18,880 Speaker 1: if you lower the supply while you still have the demand, 201 00:11:18,920 --> 00:11:22,439 Speaker 1: that would cause prices to rise. It's pretty insane. And 202 00:11:22,880 --> 00:11:25,800 Speaker 1: they're saying I guess they're saying the quiet part out loud. 203 00:11:26,440 --> 00:11:28,640 Speaker 1: I think maybe this is the wake up call that 204 00:11:28,679 --> 00:11:31,079 Speaker 1: people need to go, wait a minute. These people don't 205 00:11:31,120 --> 00:11:32,800 Speaker 1: know what the heck they're talking about. I mean, I'm 206 00:11:32,840 --> 00:11:35,440 Speaker 1: a nobody operating on a mic here talking to you 207 00:11:35,480 --> 00:11:38,760 Speaker 1: over the radio waves, and I told you this. Uh, 208 00:11:38,960 --> 00:11:41,680 Speaker 1: Like I said, kids in elementary could probably tell you 209 00:11:42,240 --> 00:11:44,040 Speaker 1: that if we still have the demand and you cut 210 00:11:44,040 --> 00:11:46,880 Speaker 1: the supply, what's going to happen. It's pretty simple. And 211 00:11:46,960 --> 00:11:48,920 Speaker 1: of course she's at the forefront of that, not as 212 00:11:48,960 --> 00:11:51,280 Speaker 1: you only at the forefront of that, knowing this in 213 00:11:51,360 --> 00:11:55,400 Speaker 1: her own words quoting her um that European countries have 214 00:11:55,480 --> 00:11:57,160 Speaker 1: taken steps to limit their imports of oil, and not 215 00:11:57,240 --> 00:11:59,800 Speaker 1: as she's saying that. She's part of the she's part 216 00:11:59,800 --> 00:12:02,360 Speaker 1: of the planning process. She's the one that gets together 217 00:12:02,360 --> 00:12:05,640 Speaker 1: with these world leaders and they're trying to curb climate change. Um. 218 00:12:05,679 --> 00:12:08,080 Speaker 1: So it's not like she's just observing that is happening. 219 00:12:08,120 --> 00:12:10,040 Speaker 1: She's the ones that in the policies for this top 220 00:12:10,120 --> 00:12:12,280 Speaker 1: but I mean, it's just insane. And like I said, 221 00:12:12,600 --> 00:12:17,000 Speaker 1: I think they're becoming acutely aware of this because I 222 00:12:17,000 --> 00:12:22,120 Speaker 1: guess reality is slapping them in the face at this point, um, 223 00:12:22,200 --> 00:12:23,600 Speaker 1: And it's slapping them in the face for a couple 224 00:12:23,600 --> 00:12:25,720 Speaker 1: of reasons. One, they're realizing the massive amount of pain 225 00:12:25,760 --> 00:12:27,760 Speaker 1: that people are going through. They're starting to realize that 226 00:12:27,800 --> 00:12:30,200 Speaker 1: their policies are actually having the opposite effect of what 227 00:12:30,240 --> 00:12:33,240 Speaker 1: they want. But more importantly, here we are a couple 228 00:12:33,240 --> 00:12:35,360 Speaker 1: of months away from going into a mid term election 229 00:12:35,960 --> 00:12:38,800 Speaker 1: um in the United States, and they're afraid that they're 230 00:12:38,840 --> 00:12:42,280 Speaker 1: going to get just completely shut down on the elections. 231 00:12:42,720 --> 00:12:45,040 Speaker 1: I should say the Democrats side, who kind of controlling 232 00:12:45,040 --> 00:12:47,120 Speaker 1: the government right now, they're afraid they're gonna get completely 233 00:12:47,120 --> 00:12:50,320 Speaker 1: wiped out. And of course it's not a big surprise 234 00:12:50,320 --> 00:12:52,280 Speaker 1: to see that. As a matter of fact, a new 235 00:12:52,320 --> 00:12:54,600 Speaker 1: poll came out this week that shows them if they 236 00:12:54,600 --> 00:12:58,920 Speaker 1: don't do something drastic, it's going to be completely um 237 00:12:59,120 --> 00:13:01,120 Speaker 1: horrific for them at the polls. I have a clip 238 00:13:01,160 --> 00:13:04,200 Speaker 1: that I want to play that highlights just how bad 239 00:13:04,280 --> 00:13:06,200 Speaker 1: this is. A matter of fact, it's it's maybe the 240 00:13:06,240 --> 00:13:08,400 Speaker 1: worst that we've ever seen in history of the United 241 00:13:08,400 --> 00:13:12,200 Speaker 1: States presidential Um. Politics. Let's go ahead and play this 242 00:13:12,360 --> 00:13:14,280 Speaker 1: clip that we have. You can get an idea for it. 243 00:13:14,520 --> 00:13:17,320 Speaker 1: But we begin with the backlash over inflation and new 244 00:13:17,480 --> 00:13:21,480 Speaker 1: NBC News polls showing seventy one percent of Americans disapprove 245 00:13:21,520 --> 00:13:24,800 Speaker 1: of President Biden's handling of the rising cost of living 246 00:13:24,800 --> 00:13:27,120 Speaker 1: and a lot of people won't like to hear this. 247 00:13:27,360 --> 00:13:30,880 Speaker 1: Gas prices now reaching a new all time high four 248 00:13:30,960 --> 00:13:34,760 Speaker 1: sixties seven a gallon, get this up five cents since yesterday, 249 00:13:35,360 --> 00:13:41,280 Speaker 1: m M. Seventy one percent of Americans disapproved. It's a 250 00:13:41,280 --> 00:13:44,760 Speaker 1: big number. Uh. It's the lowest approval ratings of any 251 00:13:45,120 --> 00:13:50,160 Speaker 1: US president in history. UM. Not a big surprise. UM, 252 00:13:50,160 --> 00:13:52,960 Speaker 1: not a big surprise. I regardless of where you are 253 00:13:53,040 --> 00:13:57,440 Speaker 1: on politics, this is affecting everybody because regardless of which 254 00:13:57,440 --> 00:14:00,720 Speaker 1: political side you're on, you put us in your car 255 00:14:01,120 --> 00:14:03,520 Speaker 1: and you need to buy food, and when you can't 256 00:14:03,559 --> 00:14:06,000 Speaker 1: afford those those those couple of things, or when they're 257 00:14:06,040 --> 00:14:09,199 Speaker 1: having a massive effect on your pocketbook, you are going 258 00:14:09,240 --> 00:14:13,520 Speaker 1: to disapprove, regardless of which political ideology that you lie into. UM. 259 00:14:14,040 --> 00:14:15,959 Speaker 1: One thing that I'm starting to see and I'm sure 260 00:14:15,960 --> 00:14:19,040 Speaker 1: you're all noticing this is that political sides are starting 261 00:14:19,080 --> 00:14:24,200 Speaker 1: to just disappear, and whatever liberalism or liberals or left 262 00:14:24,320 --> 00:14:27,040 Speaker 1: or democrats or right or conservative, I mean, those lines 263 00:14:27,080 --> 00:14:29,400 Speaker 1: have gotten so blurred nobody knows what to think anymore. 264 00:14:29,560 --> 00:14:32,320 Speaker 1: People that were on the left now find themselves on 265 00:14:32,360 --> 00:14:36,720 Speaker 1: the right. I have not really watched Bill Maher much 266 00:14:36,760 --> 00:14:38,920 Speaker 1: over the over the last decade or however long he's 267 00:14:38,960 --> 00:14:41,880 Speaker 1: been on, but I caught an episode of his the 268 00:14:41,880 --> 00:14:46,200 Speaker 1: other night. I was about two weeks old, and uh, 269 00:14:46,280 --> 00:14:48,040 Speaker 1: I was watching with my wife and I was just like, 270 00:14:48,520 --> 00:14:51,240 Speaker 1: can you believe this guy was like the mouthpiece for 271 00:14:51,240 --> 00:14:53,280 Speaker 1: the left and the liberal but now listen to what 272 00:14:53,320 --> 00:14:55,800 Speaker 1: he's saying, And it's just because everyone has got everything 273 00:14:55,800 --> 00:14:58,440 Speaker 1: has gotten so distorted now, and it's like it's I 274 00:14:58,480 --> 00:15:00,240 Speaker 1: think people are starting to see it's no longer here 275 00:15:00,320 --> 00:15:03,960 Speaker 1: like this left versus right or conservative versus liberal. It's 276 00:15:04,000 --> 00:15:08,479 Speaker 1: more like, um, shoot, whatever your politics are, you're mismanaging 277 00:15:08,480 --> 00:15:11,800 Speaker 1: the economy. It's affecting me adversely, and maybe a little 278 00:15:11,800 --> 00:15:14,200 Speaker 1: bit less meddling in the economy and a little bit 279 00:15:14,280 --> 00:15:16,440 Speaker 1: more freedom for me might be a good thing. I 280 00:15:16,480 --> 00:15:18,800 Speaker 1: think we're starting to see that and we're seeing it 281 00:15:18,880 --> 00:15:21,240 Speaker 1: in a big way. One. Like I said, they're telling 282 00:15:21,360 --> 00:15:24,560 Speaker 1: us that we didn't understand this was going to happen. 283 00:15:24,800 --> 00:15:26,320 Speaker 1: But I think we're also waking up to see that 284 00:15:26,760 --> 00:15:29,240 Speaker 1: they don't have a plan to fix it because they can't. 285 00:15:29,280 --> 00:15:31,160 Speaker 1: And that's what I want to talk about specifically. I 286 00:15:31,160 --> 00:15:33,120 Speaker 1: want to I want to break that down for you're 287 00:15:33,120 --> 00:15:36,360 Speaker 1: gonna understand that. But we saw here um no short 288 00:15:36,400 --> 00:15:40,520 Speaker 1: of trying. President Biden um met with the FED Chairman 289 00:15:40,640 --> 00:15:43,320 Speaker 1: Jerome Powell to discuss, of course, inflation being at a 290 00:15:43,400 --> 00:15:47,320 Speaker 1: forty year high. He affirms a quote laser focus on 291 00:15:47,360 --> 00:15:50,880 Speaker 1: addressing inflation, but he's gonna let the central banks, the 292 00:15:50,880 --> 00:15:53,680 Speaker 1: Photo Reserve do its work. He says that there's a 293 00:15:53,760 --> 00:15:58,520 Speaker 1: growing urgency to ease rapidly rising prices that threaten the 294 00:15:58,640 --> 00:16:03,240 Speaker 1: US economy. Me but he promised to have a handsoff approach. 295 00:16:03,320 --> 00:16:05,880 Speaker 1: Quote I'm going to I'm not going to interfere with 296 00:16:05,880 --> 00:16:09,880 Speaker 1: the critical important work. So he's gonna let them do 297 00:16:09,960 --> 00:16:12,560 Speaker 1: their thing. But the interesting thing here is that he 298 00:16:12,600 --> 00:16:14,960 Speaker 1: says the FETE is trying to cool demand to moderate 299 00:16:15,120 --> 00:16:18,680 Speaker 1: price pressures. But Mr Powell Joan Powell, the head of 300 00:16:18,680 --> 00:16:23,360 Speaker 1: the Federal Reserve has conceded. He's basically admitted that the 301 00:16:23,400 --> 00:16:26,400 Speaker 1: central Bank's ability to do that without forcing the economy 302 00:16:26,400 --> 00:16:31,240 Speaker 1: into a recession depends on developments outside the central banks control. 303 00:16:32,360 --> 00:16:36,320 Speaker 1: Mm hmm. So he's he he wants to do everything 304 00:16:36,320 --> 00:16:40,240 Speaker 1: he can, but he's conceded. He's admitted that the ability 305 00:16:40,280 --> 00:16:42,920 Speaker 1: to do without forcing the economy into recession um depends 306 00:16:42,920 --> 00:16:45,920 Speaker 1: on things he can't control. So it's basically not up 307 00:16:45,920 --> 00:16:49,640 Speaker 1: to him, including quote global energy markets that have been 308 00:16:49,680 --> 00:16:54,480 Speaker 1: badly disrupted UM and supply chains. So the energy markets 309 00:16:54,640 --> 00:16:59,760 Speaker 1: and the supply chains, and guess what they can't control those. 310 00:17:00,520 --> 00:17:02,960 Speaker 1: They can't print more money for those. What they can 311 00:17:03,040 --> 00:17:05,560 Speaker 1: do is they could get out of the way and 312 00:17:05,600 --> 00:17:08,560 Speaker 1: they could help that. But basically, after this meeting, Biden 313 00:17:08,600 --> 00:17:13,040 Speaker 1: says that quote no short term fix to high energy 314 00:17:13,560 --> 00:17:16,760 Speaker 1: and grocery prices. He can't take immediate action to lower 315 00:17:16,880 --> 00:17:21,240 Speaker 1: record gasoline prices. There's little administration could do to short 316 00:17:21,359 --> 00:17:24,680 Speaker 1: term lower high energy prices and food prices. So back 317 00:17:24,720 --> 00:17:28,200 Speaker 1: to economics one O one. If you want prices to 318 00:17:28,240 --> 00:17:29,720 Speaker 1: go down, what do you need to do? You need 319 00:17:29,800 --> 00:17:34,400 Speaker 1: to increase the supply, right, not lower the supply. Increases 320 00:17:34,359 --> 00:17:36,400 Speaker 1: the supply. I'm want to talk about that. I want 321 00:17:36,400 --> 00:17:38,679 Speaker 1: to talk about these statistics that came out of these 322 00:17:38,680 --> 00:17:40,720 Speaker 1: surveys that have blown me away, and I'm sure they're 323 00:17:40,720 --> 00:17:42,640 Speaker 1: going to blow you away as well. And I'm gonna 324 00:17:42,640 --> 00:17:45,240 Speaker 1: give you a little, uh, a little analogies you can 325 00:17:45,320 --> 00:17:46,800 Speaker 1: understand us a little bit better, and then talk about 326 00:17:46,880 --> 00:17:49,119 Speaker 1: what's going on in the rest of the world, because 327 00:17:49,560 --> 00:17:51,960 Speaker 1: what's happening over there is what's going to come here 328 00:17:52,000 --> 00:17:54,960 Speaker 1: if we don't about face very very quickly. You're listening 329 00:17:55,000 --> 00:17:58,199 Speaker 1: to the Markma Show. We're talking about the decentralized Revolution, 330 00:17:58,200 --> 00:18:00,280 Speaker 1: talking about how the world is changing during ben buy 331 00:18:00,280 --> 00:18:03,800 Speaker 1: a new technology called bitcoin and cryptocurrencies, and really discussing 332 00:18:03,840 --> 00:18:06,160 Speaker 1: it from the intersection of politics, finance, and technology. Talking 333 00:18:06,200 --> 00:18:09,399 Speaker 1: today specifically about this crazy inflation that seems to have 334 00:18:09,440 --> 00:18:12,280 Speaker 1: caught all the leaders off guard, but we knew it 335 00:18:12,320 --> 00:18:14,000 Speaker 1: was going to happen, and we know what the fixes. 336 00:18:14,520 --> 00:18:16,160 Speaker 1: It's painful. I'm gonna come back and break that down 337 00:18:16,200 --> 00:18:18,919 Speaker 1: for you and more in a minute, So don't go away. 338 00:18:18,960 --> 00:18:21,720 Speaker 1: I'll being right back. All right, welcome back. You're listening 339 00:18:21,720 --> 00:18:25,320 Speaker 1: to the Mark Ma Show. We're talking about the decentralized revolution. 340 00:18:25,320 --> 00:18:27,080 Speaker 1: We're talking about the way the world is changing right 341 00:18:27,119 --> 00:18:30,119 Speaker 1: before our eyes, driven by bitcoin cryptocurrencies, and we're talking 342 00:18:30,160 --> 00:18:33,320 Speaker 1: about it today through I mean, you know, it's a 343 00:18:33,359 --> 00:18:36,720 Speaker 1: it's political, it's financial. Uh, this is the way the 344 00:18:36,760 --> 00:18:40,480 Speaker 1: world changes. And so politics and finance are integrated together 345 00:18:40,480 --> 00:18:44,320 Speaker 1: because of course it's the political changes, the political choices 346 00:18:44,600 --> 00:18:47,600 Speaker 1: that change the markets. And we're talking about specifically the FED, 347 00:18:47,920 --> 00:18:50,760 Speaker 1: the Federal Reserve, and the President. So the politics the 348 00:18:50,800 --> 00:18:53,960 Speaker 1: president by getting together with the FED, that's economic policy. 349 00:18:53,960 --> 00:18:55,560 Speaker 1: And I stay, it's getting together and trying to figure 350 00:18:55,560 --> 00:18:59,120 Speaker 1: this out. But President Biden warned there's little the administration 351 00:18:59,160 --> 00:19:03,480 Speaker 1: can do in the short term to lower high energy 352 00:19:03,560 --> 00:19:05,760 Speaker 1: and food prices. So those are the two problems, energy 353 00:19:05,960 --> 00:19:08,080 Speaker 1: and food. So let's just talk about those for a second. 354 00:19:08,840 --> 00:19:13,480 Speaker 1: So again, economics one oh one, supply and demand. If 355 00:19:13,520 --> 00:19:16,880 Speaker 1: you have more supply and less demand, prices go down. 356 00:19:17,320 --> 00:19:20,119 Speaker 1: If there was if there was ten houses for sale 357 00:19:20,440 --> 00:19:24,040 Speaker 1: but only one buyer, what would happen. The prices would 358 00:19:24,040 --> 00:19:26,800 Speaker 1: come down. If there was ten buyers but only one 359 00:19:26,960 --> 00:19:29,920 Speaker 1: home for cell, the prices would go up. They would 360 00:19:29,920 --> 00:19:32,199 Speaker 1: be bit up. So, um, we have a problem with 361 00:19:32,359 --> 00:19:35,600 Speaker 1: high energy and food prices. Those are the two energy 362 00:19:35,600 --> 00:19:39,520 Speaker 1: and food. So if we wanted to lower energy prices, 363 00:19:39,800 --> 00:19:43,320 Speaker 1: what would we do. Well, I guess there's two ways. 364 00:19:43,359 --> 00:19:46,360 Speaker 1: One we could increase the supply, or two we could 365 00:19:46,440 --> 00:19:49,520 Speaker 1: lower the demand. Now the Fed can do something about that, 366 00:19:49,600 --> 00:19:52,640 Speaker 1: because what they can do is they can crash the economy. 367 00:19:52,720 --> 00:19:56,320 Speaker 1: So you can't afford to travel, you can't afford to 368 00:19:56,400 --> 00:19:59,400 Speaker 1: drive your car, you can't afford to buy things that 369 00:19:59,480 --> 00:20:02,240 Speaker 1: need to be trucked in, and so by crushing the 370 00:20:02,280 --> 00:20:05,480 Speaker 1: economy and making you broke, they can take away the 371 00:20:05,600 --> 00:20:10,120 Speaker 1: demand side of the energy equation. That's the one thing 372 00:20:10,160 --> 00:20:13,480 Speaker 1: they can do. That's the scary thing they can do, 373 00:20:13,800 --> 00:20:17,680 Speaker 1: and they could do that immediately. But in Jerome Powell's 374 00:20:17,720 --> 00:20:20,800 Speaker 1: own words, which I read earlier before the break, he 375 00:20:20,880 --> 00:20:23,000 Speaker 1: said that we can see the central banksability to do 376 00:20:23,040 --> 00:20:28,160 Speaker 1: that without forcing the economy into a recession. So if 377 00:20:28,200 --> 00:20:31,280 Speaker 1: they forced the economy into a recession and take away 378 00:20:31,320 --> 00:20:34,760 Speaker 1: all your spending power, then you will use less energy. 379 00:20:35,000 --> 00:20:37,359 Speaker 1: So that's one way to do it. It's not a 380 00:20:37,400 --> 00:20:40,119 Speaker 1: good way, but it's one way. The other way that 381 00:20:40,200 --> 00:20:43,640 Speaker 1: sounds much better is how about don't force the economy 382 00:20:43,640 --> 00:20:47,200 Speaker 1: into a recession. How about don't take away your spending power. 383 00:20:47,280 --> 00:20:50,440 Speaker 1: How about you just increase the supply. Wouldn't that be nice? 384 00:20:51,200 --> 00:20:54,359 Speaker 1: So they could do that. But in in this point 385 00:20:54,359 --> 00:20:58,160 Speaker 1: here that Biden says that he can't take immediate action 386 00:20:58,240 --> 00:21:01,400 Speaker 1: to lower record high gas prices because it doesn't happen immediately. 387 00:21:01,480 --> 00:21:05,160 Speaker 1: So remember I talked about this extensively. The very first thing, 388 00:21:05,240 --> 00:21:08,160 Speaker 1: the most important thing President Biden did the very first 389 00:21:08,200 --> 00:21:11,119 Speaker 1: day in office by executive order, not through any any 390 00:21:11,280 --> 00:21:13,840 Speaker 1: form of voting. But the very first thing, most important thing, 391 00:21:13,880 --> 00:21:17,760 Speaker 1: was to shut down the energy shut down the energy pipelines, 392 00:21:18,480 --> 00:21:21,800 Speaker 1: shut down all the gas permits, the drilling permits, and 393 00:21:21,840 --> 00:21:25,119 Speaker 1: so he took away the supply day, one most important 394 00:21:25,119 --> 00:21:27,280 Speaker 1: thing he had to do. And so what happened. So 395 00:21:27,400 --> 00:21:31,840 Speaker 1: if he wants to bring more supply back, the government 396 00:21:31,880 --> 00:21:33,320 Speaker 1: doesn't need to do anything. What they need to do 397 00:21:33,359 --> 00:21:34,920 Speaker 1: is just get out of the way. What he needs 398 00:21:34,920 --> 00:21:37,240 Speaker 1: to do is just roll back these rules and regulations 399 00:21:37,240 --> 00:21:38,719 Speaker 1: that he put in place. What he has to do 400 00:21:38,760 --> 00:21:41,200 Speaker 1: is allow the pipeline to start working again, allow people 401 00:21:41,240 --> 00:21:43,560 Speaker 1: to drove for oil and gas, bring more oil and 402 00:21:43,560 --> 00:21:46,560 Speaker 1: gas onto the markets. So we can do this. Now, 403 00:21:46,720 --> 00:21:49,680 Speaker 1: this whole issue with Russia. UM. One, they could drop 404 00:21:49,720 --> 00:21:53,000 Speaker 1: the sanctions to one or two. They could continue to 405 00:21:53,000 --> 00:21:55,679 Speaker 1: sanction them if they want, sure, but then bring supply 406 00:21:55,760 --> 00:22:00,359 Speaker 1: back on. In other places, there's only two levers, supply 407 00:22:00,359 --> 00:22:03,560 Speaker 1: and demand, but they seem to be focused on the 408 00:22:03,560 --> 00:22:06,919 Speaker 1: the demand side. Again. I'm gonna read it again in 409 00:22:06,960 --> 00:22:09,639 Speaker 1: case you're not catching here. Powell has conceded that the 410 00:22:09,640 --> 00:22:12,760 Speaker 1: central banks ability to do so without forcing the economy 411 00:22:12,800 --> 00:22:16,800 Speaker 1: into a recession. So if they force the economy into recession, 412 00:22:16,840 --> 00:22:20,760 Speaker 1: they can take the demand down. UM. Now that sounds 413 00:22:20,760 --> 00:22:25,080 Speaker 1: far fetched. But over the last week, the powers that 414 00:22:25,160 --> 00:22:28,240 Speaker 1: be were meeting in Davos, Switzerland. Every year they fly 415 00:22:28,320 --> 00:22:30,359 Speaker 1: their private jets to Davos to decide the fate of 416 00:22:30,359 --> 00:22:34,199 Speaker 1: the world. UM and UH. Lots of measures on reducing 417 00:22:34,280 --> 00:22:39,440 Speaker 1: your will call it your uh well being. You're flourishing 418 00:22:40,000 --> 00:22:43,880 Speaker 1: your standard of living, that's a better way to put it. Uh. 419 00:22:44,119 --> 00:22:46,040 Speaker 1: They just want to talk about taking away your standard 420 00:22:46,080 --> 00:22:49,120 Speaker 1: of living to achieve their agenda. So they flew their 421 00:22:49,119 --> 00:22:51,800 Speaker 1: private jets there and they were talking about putting a 422 00:22:51,880 --> 00:22:54,240 Speaker 1: measure in place in the UK where you could only 423 00:22:54,320 --> 00:22:59,280 Speaker 1: drive nine miles a day. You can only drive nine 424 00:22:59,280 --> 00:23:00,600 Speaker 1: miles to day. Now, if you live in in New 425 00:23:00,680 --> 00:23:02,320 Speaker 1: York City where you have the subway, I guess that works. 426 00:23:02,320 --> 00:23:03,960 Speaker 1: But like where I'm at in the southwest side of 427 00:23:04,000 --> 00:23:06,400 Speaker 1: the country, Like, good luck getting around without a car, right, 428 00:23:06,960 --> 00:23:08,920 Speaker 1: So if I can only drive nine miles a day, well, 429 00:23:09,040 --> 00:23:10,639 Speaker 1: most people in l A don't live in l A. 430 00:23:10,640 --> 00:23:13,120 Speaker 1: They commute. Some of them commute fifty sixty miles a day. 431 00:23:13,200 --> 00:23:15,480 Speaker 1: How what happens if you only drive nine miles a day. 432 00:23:15,520 --> 00:23:18,120 Speaker 1: So they have these like crazy ideas, and they could 433 00:23:18,200 --> 00:23:21,520 Speaker 1: definitely limit the demand for energy, and I guess that's 434 00:23:21,560 --> 00:23:23,679 Speaker 1: one way to fix it. But the problem is to 435 00:23:23,760 --> 00:23:26,560 Speaker 1: the point here is that there's no quick fix. And 436 00:23:26,600 --> 00:23:29,119 Speaker 1: the reason why is because these takes years to happen. 437 00:23:29,840 --> 00:23:33,040 Speaker 1: So if he magically waved a wand and said, okay, fine, 438 00:23:33,400 --> 00:23:36,879 Speaker 1: you can start investing into energy again, these companies can 439 00:23:36,880 --> 00:23:39,840 Speaker 1: now put money into exploring and finding new energy and 440 00:23:39,840 --> 00:23:43,359 Speaker 1: and getting new wells going and all these things. It 441 00:23:43,400 --> 00:23:47,200 Speaker 1: doesn't happen overnight like this could take years to happen. Okay, 442 00:23:47,320 --> 00:23:50,200 Speaker 1: what about food? Food is the same thing. So, for example, 443 00:23:51,040 --> 00:23:53,760 Speaker 1: the we have lots of problems that lead into these 444 00:23:53,760 --> 00:23:57,000 Speaker 1: food prices. But for One of them is that the 445 00:23:57,080 --> 00:24:00,639 Speaker 1: United States pays farmers. They subsit as the farmers, and 446 00:24:00,680 --> 00:24:04,359 Speaker 1: they pay the farmers to not grow crops on a 447 00:24:04,440 --> 00:24:08,080 Speaker 1: large portion of their land. Now why would they do that, Well, 448 00:24:08,119 --> 00:24:11,120 Speaker 1: they do it because you know the climate and uh, 449 00:24:11,160 --> 00:24:12,920 Speaker 1: if they if they if they don't, if they don't 450 00:24:12,920 --> 00:24:17,280 Speaker 1: plant here, then somehow it can save the climate. Apparently. Now, okay, 451 00:24:17,440 --> 00:24:19,760 Speaker 1: you know, because apparently the temperature of the earth could 452 00:24:19,760 --> 00:24:21,639 Speaker 1: go up by four degrees over the next you know, 453 00:24:21,760 --> 00:24:24,280 Speaker 1: hundred years, which have you ever been to Arizona? Going 454 00:24:24,359 --> 00:24:25,720 Speaker 1: up by four degrees doesn't seem like the end of 455 00:24:25,760 --> 00:24:28,040 Speaker 1: the world, especially over a hundred year of rain, when 456 00:24:28,119 --> 00:24:30,720 Speaker 1: today we have people that could potentially starve the death. 457 00:24:30,800 --> 00:24:33,720 Speaker 1: So the farmers went to the government. They said, please 458 00:24:33,800 --> 00:24:36,320 Speaker 1: let us plant on this we can help alleviate this food. 459 00:24:36,920 --> 00:24:39,520 Speaker 1: And they said, no, no, you can't do it because 460 00:24:39,560 --> 00:24:41,879 Speaker 1: it doesn't fit within our climate goals. Now, even if 461 00:24:41,920 --> 00:24:44,399 Speaker 1: they waved a magic wand and said, okay, fine, we 462 00:24:44,520 --> 00:24:47,160 Speaker 1: need more food. We need to alleviate to this point 463 00:24:47,280 --> 00:24:49,640 Speaker 1: food prices, so we need to bring more food onto 464 00:24:49,680 --> 00:24:53,320 Speaker 1: the market. Go ahead and go plant the food. Well, 465 00:24:53,359 --> 00:24:56,720 Speaker 1: we already missed the plant for two. If you don't 466 00:24:56,720 --> 00:24:58,400 Speaker 1: plan it, you can't if you don't, so you can't 467 00:24:58,400 --> 00:25:00,639 Speaker 1: reap it. So now we have to wait for the plant. 468 00:25:00,960 --> 00:25:03,360 Speaker 1: That means we don't have any more food. So I mean, 469 00:25:03,359 --> 00:25:05,679 Speaker 1: even if they may wave a magic want today and 470 00:25:05,720 --> 00:25:07,600 Speaker 1: reverse this, we're still a year and a half out, 471 00:25:08,000 --> 00:25:11,359 Speaker 1: which is why Biden says there's no short term fixed 472 00:25:11,520 --> 00:25:16,840 Speaker 1: too high energy prices um. He says, quote, there's a 473 00:25:16,880 --> 00:25:18,600 Speaker 1: lot going on right now, but the idea we're going 474 00:25:18,640 --> 00:25:21,879 Speaker 1: to be able to, you know, click a switch and 475 00:25:21,960 --> 00:25:24,720 Speaker 1: bring down the cost of gasoline is not likely in 476 00:25:24,720 --> 00:25:28,439 Speaker 1: the near term, nor is it with regard to food. 477 00:25:29,160 --> 00:25:33,479 Speaker 1: These policies that they've put in place have caused these problems. 478 00:25:33,520 --> 00:25:36,960 Speaker 1: The only way to solve these problems is to reverse 479 00:25:37,080 --> 00:25:39,600 Speaker 1: these bad policies they put into place. But to the 480 00:25:39,680 --> 00:25:41,840 Speaker 1: point he said, we can't click a switch and bring 481 00:25:41,880 --> 00:25:44,600 Speaker 1: the cost of gasoline and food down because it's going 482 00:25:44,640 --> 00:25:48,480 Speaker 1: to take years to get us out of this. So 483 00:25:49,000 --> 00:25:52,080 Speaker 1: that's why he says, quote, we can't take immediate action 484 00:25:52,160 --> 00:25:55,280 Speaker 1: that I'm aware of yet to figure out how we're 485 00:25:55,280 --> 00:25:57,560 Speaker 1: going to bring down the price of gasoline back to 486 00:25:57,600 --> 00:26:02,240 Speaker 1: three dollars a gallon. End quote from President Brighton. But 487 00:26:02,359 --> 00:26:08,040 Speaker 1: they actually have another plan, this one. This one's great. 488 00:26:08,720 --> 00:26:13,199 Speaker 1: But what we can do is compensate by providing for 489 00:26:13,359 --> 00:26:18,720 Speaker 1: other necessary costs for families by bringing those down. What's 490 00:26:18,720 --> 00:26:23,080 Speaker 1: their idea on that. I'm gonna tell you, and you're 491 00:26:23,080 --> 00:26:25,600 Speaker 1: not gonna like it, and neither do I. You're listening 492 00:26:25,640 --> 00:26:28,680 Speaker 1: to the Marketma Show. We're talking about bitcoin, cryptocurrencies. We're 493 00:26:28,720 --> 00:26:32,800 Speaker 1: talking about record inflation and how centralization is causing the 494 00:26:32,800 --> 00:26:35,280 Speaker 1: problem and decentralization is going to be the answer to that. 495 00:26:35,320 --> 00:26:37,240 Speaker 1: I'm gonna come back with that and more in a minute. 496 00:26:37,520 --> 00:26:40,000 Speaker 1: Don't go away, all right, welcome back. You are listening 497 00:26:40,040 --> 00:26:44,040 Speaker 1: to the Markmas Show. We're talking about the decentralized Revolution 498 00:26:44,080 --> 00:26:46,480 Speaker 1: each and every week, talking about how bitcoin and cryptocurrencies 499 00:26:46,520 --> 00:26:49,320 Speaker 1: are changing the world and specifically how the world is 500 00:26:49,359 --> 00:26:52,959 Speaker 1: at peak centralization and swinging back to decentralization. And we're 501 00:26:53,000 --> 00:26:55,359 Speaker 1: talking about some of these problems that this peak centralization 502 00:26:55,400 --> 00:26:59,920 Speaker 1: has caused, specifically central planning of course, centralization, central plan 503 00:27:00,600 --> 00:27:03,440 Speaker 1: and I was talking about this this craziness of how 504 00:27:03,480 --> 00:27:05,480 Speaker 1: they can't they can't figure out a way to solve 505 00:27:05,960 --> 00:27:09,359 Speaker 1: the energy and food inflation problems. The prices of energy 506 00:27:09,400 --> 00:27:12,440 Speaker 1: and food have gone astronomical. There's no easy fix. Of course, 507 00:27:12,440 --> 00:27:14,520 Speaker 1: the easy fix not the easy fix. But the fix 508 00:27:14,600 --> 00:27:19,520 Speaker 1: is to increase the supply. There's that doesn't doesn't doesn't 509 00:27:19,520 --> 00:27:24,040 Speaker 1: happen immediately, and it's not easy because it goes against 510 00:27:24,080 --> 00:27:29,399 Speaker 1: their ideologies. Now, they do have a short term fix 511 00:27:29,480 --> 00:27:32,600 Speaker 1: that I think maybe you would win them a little 512 00:27:32,600 --> 00:27:35,440 Speaker 1: bit of points in the polls, but it's going to 513 00:27:35,560 --> 00:27:39,640 Speaker 1: have drastic long term effects. And uh he says quote here, 514 00:27:39,720 --> 00:27:42,760 Speaker 1: Biden says a quote. But we can compensate for these 515 00:27:42,840 --> 00:27:46,720 Speaker 1: high prices by providing for other necessary costs for families, 516 00:27:46,760 --> 00:27:50,960 Speaker 1: by bringing those down. He said taxes could be increased 517 00:27:50,960 --> 00:27:57,359 Speaker 1: on corporations and the wealthy to help pay for deficit 518 00:27:57,480 --> 00:28:03,679 Speaker 1: reduction and provide relief or families. M hm. So what 519 00:28:03,800 --> 00:28:06,480 Speaker 1: he's saying is we should rob from the rich to 520 00:28:06,600 --> 00:28:10,280 Speaker 1: pay for the poor. We he said, we could increase 521 00:28:10,320 --> 00:28:14,600 Speaker 1: taxes on corporations and the wealthy to help pay for 522 00:28:14,680 --> 00:28:19,880 Speaker 1: the families, to provide relief for families. It's called wealth. 523 00:28:21,520 --> 00:28:26,240 Speaker 1: Uh well, wealth confiscation, wealth redistribution as a way they'd 524 00:28:26,240 --> 00:28:28,400 Speaker 1: like to do it. Now, Okay, I mean that's that's sure. 525 00:28:28,440 --> 00:28:30,240 Speaker 1: That's one solution, Like I said, another solution, who is 526 00:28:30,280 --> 00:28:32,879 Speaker 1: just destroyed the economy, so nobody there's no demand, nobody 527 00:28:33,040 --> 00:28:36,159 Speaker 1: can nobody can go anywhere, nobody needs to buy food, 528 00:28:36,320 --> 00:28:37,919 Speaker 1: nobody needs to buy I guess they could just kill 529 00:28:37,920 --> 00:28:40,120 Speaker 1: everybody too, right, I mean there's a there's other solutions 530 00:28:40,120 --> 00:28:44,720 Speaker 1: as well. Um. Or we could solve it easily by 531 00:28:44,760 --> 00:28:47,040 Speaker 1: just letting the free market work and letting people just 532 00:28:47,160 --> 00:28:50,120 Speaker 1: bring the supplies back, like the farmers that are literally 533 00:28:50,240 --> 00:28:52,560 Speaker 1: begging the United States to let them grow more food 534 00:28:52,600 --> 00:28:54,960 Speaker 1: and they say no, So we could just do that. 535 00:28:54,960 --> 00:28:58,120 Speaker 1: That would probably be the best I'm saying that sarcastically, 536 00:28:58,160 --> 00:29:00,960 Speaker 1: of course. Or what we could do is since since 537 00:29:01,040 --> 00:29:03,120 Speaker 1: the prices are going so high and it's affecting the 538 00:29:03,520 --> 00:29:07,160 Speaker 1: poor uh more, which which is true, and of course 539 00:29:07,160 --> 00:29:10,760 Speaker 1: it's always the the lower income that are adversely affected 540 00:29:10,760 --> 00:29:13,520 Speaker 1: the most because the food energy makes up a larger 541 00:29:13,560 --> 00:29:17,120 Speaker 1: percentage of their budget. So rather than just how about 542 00:29:17,240 --> 00:29:19,200 Speaker 1: letting the market's work and bring the cost of food 543 00:29:19,200 --> 00:29:23,640 Speaker 1: and energy back down? Um. Instead of that, what would do, 544 00:29:23,760 --> 00:29:27,080 Speaker 1: Let's just steal money from the more wealthy people, and 545 00:29:27,160 --> 00:29:29,880 Speaker 1: that way we can provide relief for some of the 546 00:29:29,960 --> 00:29:32,200 Speaker 1: low income people. How do we do that. I guess 547 00:29:32,200 --> 00:29:34,440 Speaker 1: they're going to start new forms of welfare or something 548 00:29:34,480 --> 00:29:37,040 Speaker 1: like that. I mean, it's just insane. It's just adds 549 00:29:37,120 --> 00:29:40,080 Speaker 1: problems on top of problems on top of problems. I 550 00:29:40,120 --> 00:29:41,720 Speaker 1: guess that's the way they want to do that, the 551 00:29:41,760 --> 00:29:44,840 Speaker 1: way they want to cure it. But ultimately they have 552 00:29:44,920 --> 00:29:47,720 Speaker 1: no plan. Um that's the big problem. There's nothing they 553 00:29:47,760 --> 00:29:49,640 Speaker 1: can do about it in the short term. And they're 554 00:29:49,640 --> 00:29:54,080 Speaker 1: basically conceding that they've these these mistakes. They didn't anticipate them. 555 00:29:54,080 --> 00:29:57,800 Speaker 1: They're saying that out loud, um unanticipated shocks, which we 556 00:29:57,840 --> 00:30:01,400 Speaker 1: could have told you. But let me let me explain 557 00:30:01,440 --> 00:30:04,000 Speaker 1: this a little bit differently. So let me use an 558 00:30:04,000 --> 00:30:07,680 Speaker 1: analogy which I've used before. Uh, First of all, money 559 00:30:07,760 --> 00:30:11,560 Speaker 1: is not wealth, right, money helps us acquire wealth. Money 560 00:30:11,600 --> 00:30:15,120 Speaker 1: measures wealth. Wealth is goods and services. And I use 561 00:30:15,200 --> 00:30:16,400 Speaker 1: this analogy all the time. If I was on a 562 00:30:16,440 --> 00:30:20,160 Speaker 1: deserted island with no boat, no phone, no food, no water, 563 00:30:20,200 --> 00:30:21,600 Speaker 1: no way to get off the island, and I had 564 00:30:21,600 --> 00:30:23,840 Speaker 1: a billion dollars of cash, a billion dollars of gold, 565 00:30:23,880 --> 00:30:26,120 Speaker 1: a billion dollars a bigcoin, had all that three billion dollars, 566 00:30:27,200 --> 00:30:29,880 Speaker 1: all of that is worth nothing to me. Now, if 567 00:30:29,920 --> 00:30:31,400 Speaker 1: there was one guy on the island and he had 568 00:30:31,400 --> 00:30:34,360 Speaker 1: a bunch of coconuts, that he would be the richest guy, 569 00:30:34,480 --> 00:30:36,080 Speaker 1: not me. With three billion dollars, he would be the 570 00:30:36,160 --> 00:30:39,200 Speaker 1: richest guy. Now, what if I said, hey, guy, I'll 571 00:30:39,240 --> 00:30:43,880 Speaker 1: give you three billion dollars for your coconuts. He would 572 00:30:43,960 --> 00:30:47,000 Speaker 1: say no. He would say no because what does he 573 00:30:47,080 --> 00:30:50,680 Speaker 1: want three billion dollars for. He wants food, he wants water. Right, 574 00:30:51,080 --> 00:30:54,680 Speaker 1: it's good. Money is a medium of exchange. All money 575 00:30:54,720 --> 00:30:57,200 Speaker 1: does is allow me to exchange one good for another. 576 00:30:57,280 --> 00:30:59,160 Speaker 1: So in the old days we had barter. I trade 577 00:30:59,200 --> 00:31:01,360 Speaker 1: you a chicken for a If you don't want my 578 00:31:01,400 --> 00:31:03,120 Speaker 1: chicken or goat, we don't have a deal. So the 579 00:31:03,280 --> 00:31:05,840 Speaker 1: money is a medium exchange. It allows me to exchange 580 00:31:05,840 --> 00:31:07,840 Speaker 1: my chicken into this money and then use that money 581 00:31:07,840 --> 00:31:10,400 Speaker 1: to go buy the goat later from somebody else. So 582 00:31:10,520 --> 00:31:14,160 Speaker 1: all it does is facilitate trade. It expands this barter 583 00:31:14,280 --> 00:31:16,120 Speaker 1: network because what we really need is we need to 584 00:31:16,160 --> 00:31:19,240 Speaker 1: exchange a good for another good. And so this guy 585 00:31:19,240 --> 00:31:21,880 Speaker 1: with the coconuts, he doesn't want the money because there's 586 00:31:21,920 --> 00:31:23,920 Speaker 1: nothing for him to turn the money back into later. 587 00:31:23,960 --> 00:31:25,360 Speaker 1: Now if he thought he was getting off the island. 588 00:31:25,560 --> 00:31:28,120 Speaker 1: Maybe he'd take the money. So instead of saying, hey, 589 00:31:28,120 --> 00:31:30,720 Speaker 1: i'll give you three billion dollars, what he would probably 590 00:31:30,720 --> 00:31:32,240 Speaker 1: take an exchange is if I can go catch a 591 00:31:32,240 --> 00:31:34,280 Speaker 1: couple of fish. Now I'd say, okay, great, I'll trade 592 00:31:34,280 --> 00:31:36,960 Speaker 1: you those fish for my coconuts. Maybe I go build 593 00:31:37,000 --> 00:31:39,200 Speaker 1: him a hut. So now he said, okay, I'll exchange 594 00:31:39,200 --> 00:31:42,120 Speaker 1: your hut or your labor for those coconuts. So he 595 00:31:42,160 --> 00:31:45,480 Speaker 1: wants a good for good. He doesn't want the money. 596 00:31:45,560 --> 00:31:48,760 Speaker 1: And this is why the Federal Reserve and the central 597 00:31:48,800 --> 00:31:52,360 Speaker 1: banks and the central planners are powerless to stop this 598 00:31:52,480 --> 00:31:57,280 Speaker 1: because all they can do is print more money. But 599 00:31:57,440 --> 00:32:00,680 Speaker 1: more money isn't what the world needs. The world needs 600 00:32:00,880 --> 00:32:06,480 Speaker 1: more energy and more food, and more money doesn't count. 601 00:32:06,520 --> 00:32:09,600 Speaker 1: We can't eat the money. We can't eat the money, right, 602 00:32:09,600 --> 00:32:12,600 Speaker 1: We need the energy, we need the food. Now think 603 00:32:12,640 --> 00:32:14,760 Speaker 1: about it like this. So the United States over the 604 00:32:14,840 --> 00:32:20,400 Speaker 1: last fifty years has basically outsourced everything. We've gotten rid 605 00:32:20,440 --> 00:32:23,120 Speaker 1: of our entire manufacturing based. The United States used to 606 00:32:23,120 --> 00:32:28,040 Speaker 1: be a manufacturing powerhouse. The United States today doesn't manufacture, well, 607 00:32:28,120 --> 00:32:32,320 Speaker 1: hardly anything. What the United States does mostly from a 608 00:32:32,400 --> 00:32:35,360 Speaker 1: globe from from from a countrywide level, from macro level 609 00:32:35,840 --> 00:32:39,120 Speaker 1: is we have services. The United States provides services. So 610 00:32:39,760 --> 00:32:43,040 Speaker 1: most of the US is services. So that's the Facebook, 611 00:32:43,360 --> 00:32:47,280 Speaker 1: the Apple, the Netflix, the Google, the fangs um and 612 00:32:47,320 --> 00:32:51,320 Speaker 1: the majority of our services are financial services. We export 613 00:32:51,360 --> 00:32:54,320 Speaker 1: our financial markets, we export the dollar to the world, 614 00:32:54,400 --> 00:32:57,720 Speaker 1: and we export financial services. But as it turns out, 615 00:33:00,080 --> 00:33:04,560 Speaker 1: people need food and energy, not financial service. Financial services 616 00:33:04,560 --> 00:33:06,280 Speaker 1: are great, but at the end of the day, we 617 00:33:06,280 --> 00:33:09,360 Speaker 1: need food and energy. So we have the United States 618 00:33:09,480 --> 00:33:15,040 Speaker 1: with Facebook, Apple, Netflix, Google services, and we have financial services, 619 00:33:15,080 --> 00:33:18,160 Speaker 1: and we have financial markets, and we print dollars. And 620 00:33:18,200 --> 00:33:23,000 Speaker 1: then you have a country like Russia who grows food. 621 00:33:23,640 --> 00:33:27,840 Speaker 1: Of the world's wheat supply, uh, they make steal between 622 00:33:27,920 --> 00:33:31,479 Speaker 1: Russia and Ukraine, they have six of the world's neon supply. 623 00:33:31,520 --> 00:33:35,120 Speaker 1: What do we need on for? Oh, making microchips, um, 624 00:33:35,240 --> 00:33:38,880 Speaker 1: they make they make gold, they make oil, they produce 625 00:33:38,920 --> 00:33:43,040 Speaker 1: oil and natural gas. Turns out we really need those things. 626 00:33:44,200 --> 00:33:48,320 Speaker 1: And so the US has a bunch of money and 627 00:33:48,400 --> 00:33:51,280 Speaker 1: Russia has a bunch of stuff, a bunch of things, 628 00:33:51,280 --> 00:33:54,600 Speaker 1: a bunch of commodities. But what good is a bunch 629 00:33:54,640 --> 00:33:57,440 Speaker 1: of money if there's no exchanging for it? And so 630 00:33:57,560 --> 00:34:01,520 Speaker 1: Russia has wealth. Now the US could have it, right 631 00:34:01,680 --> 00:34:05,080 Speaker 1: the US. We have The United States is a very 632 00:34:05,240 --> 00:34:08,280 Speaker 1: unique piece of land in the world. The United States 633 00:34:08,320 --> 00:34:10,759 Speaker 1: is probably the best piece of real estate in the 634 00:34:10,880 --> 00:34:13,319 Speaker 1: entire world. We have the best climate. We can grow 635 00:34:13,320 --> 00:34:16,920 Speaker 1: an unlimited amount of food. We have energy, we have oil, 636 00:34:17,000 --> 00:34:20,040 Speaker 1: we have natural gas. China, on the other hand, doesn't China. 637 00:34:20,360 --> 00:34:22,520 Speaker 1: They don't have good land. They can't grow cross like 638 00:34:22,520 --> 00:34:26,080 Speaker 1: the United States stuff. China doesn't have energy in China 639 00:34:26,160 --> 00:34:28,400 Speaker 1: like we have. They have to import at all. But 640 00:34:28,400 --> 00:34:30,800 Speaker 1: but the US has it. We can grow the food. 641 00:34:30,840 --> 00:34:33,279 Speaker 1: The farmers are begging the administration to let them grow 642 00:34:33,320 --> 00:34:37,520 Speaker 1: the food. They said, no, we have the oil, we 643 00:34:37,560 --> 00:34:39,720 Speaker 1: have the natural gas. But Biden's first day in office 644 00:34:39,760 --> 00:34:43,239 Speaker 1: was to shut it all down. We can make things, 645 00:34:43,320 --> 00:34:46,960 Speaker 1: we can invent things. All we have to do is 646 00:34:47,000 --> 00:34:51,520 Speaker 1: allow people to do it, and so to buy too. 647 00:34:51,600 --> 00:34:54,080 Speaker 1: To yell It's point, we were we were caught off guard. 648 00:34:54,080 --> 00:34:57,400 Speaker 1: We didn't anticipate this. Well, we anticipate it. And Biden's 649 00:34:57,440 --> 00:35:00,719 Speaker 1: point about look, there's no easy fix. Well, there's not 650 00:35:00,719 --> 00:35:02,879 Speaker 1: an easy fix because even if they reverse policies today, 651 00:35:02,880 --> 00:35:04,520 Speaker 1: it's going to take a year and a half two 652 00:35:04,600 --> 00:35:07,160 Speaker 1: years for us to start to reap the rewards of this. 653 00:35:07,200 --> 00:35:09,640 Speaker 1: So here we are. I hate to break it to you. 654 00:35:09,880 --> 00:35:13,440 Speaker 1: The best thing you can do is try to protect yourself. Uh. 655 00:35:13,520 --> 00:35:15,279 Speaker 1: The stat I was going to talk about earlier, I'm 656 00:35:15,320 --> 00:35:18,600 Speaker 1: kind of running out of time here was of people 657 00:35:18,680 --> 00:35:22,520 Speaker 1: pulled said that they now have to delay their retirement. 658 00:35:22,640 --> 00:35:28,120 Speaker 1: Pretty sad Americans have to delay their retirement. Um, that's 659 00:35:28,120 --> 00:35:33,319 Speaker 1: how bad the food and energy is hidden Americans. So 660 00:35:33,760 --> 00:35:37,000 Speaker 1: hopefully that makes sense. Central planning always fails because they 661 00:35:37,040 --> 00:35:41,280 Speaker 1: make policies that they don't have the information. The free market, 662 00:35:41,320 --> 00:35:46,360 Speaker 1: the decentralized market could free this up. And yes, bitcoin 663 00:35:46,760 --> 00:35:49,440 Speaker 1: fixes this. It fixes it because it fixes the money. 664 00:35:49,600 --> 00:35:54,120 Speaker 1: It decentralizes the power, decentralizes the decision making capability, and 665 00:35:54,160 --> 00:35:56,480 Speaker 1: takes away the ability to these central planners to make 666 00:35:56,480 --> 00:36:00,279 Speaker 1: these silly central policies that are affective us like this. 667 00:36:00,760 --> 00:36:02,840 Speaker 1: You listen to the Mark Ma Show, We're talking about bitcoin, 668 00:36:02,880 --> 00:36:08,160 Speaker 1: decentralized technology, the decentralized revolution, talking about money, energy, and 669 00:36:08,239 --> 00:36:11,240 Speaker 1: politics and how it all works together. Hopefully that made sense. 670 00:36:11,680 --> 00:36:13,120 Speaker 1: That's what I got for you today. Thanks for listening.