1 00:00:00,040 --> 00:00:02,760 Speaker 1: Hello, and welcome to another episode of The Mark Moss Show, 2 00:00:02,759 --> 00:00:06,400 Speaker 1: where we talk about, of course, the decentralized Revolution, trying 3 00:00:06,440 --> 00:00:09,040 Speaker 1: to explain to you the way the world is changing, 4 00:00:09,360 --> 00:00:11,800 Speaker 1: which of course you already know you see it all 5 00:00:11,840 --> 00:00:14,680 Speaker 1: around you. But we're trying to bring sense, trying to 6 00:00:14,680 --> 00:00:16,800 Speaker 1: bring context to that by looking at it through the 7 00:00:16,840 --> 00:00:19,560 Speaker 1: lens of politics, finance, and technology. And you know, I 8 00:00:19,720 --> 00:00:21,919 Speaker 1: like to bring to you, you know, some educational pieces, 9 00:00:21,920 --> 00:00:24,960 Speaker 1: some interesting guests, and of course the latest breaking news 10 00:00:25,360 --> 00:00:27,440 Speaker 1: so you can understand what is going on. 11 00:00:27,520 --> 00:00:27,760 Speaker 2: Now. 12 00:00:28,080 --> 00:00:30,600 Speaker 1: You could read the news for yourself. I know you 13 00:00:30,680 --> 00:00:32,960 Speaker 1: got that, but I can curate it for you. I 14 00:00:33,000 --> 00:00:34,400 Speaker 1: can bring it to you. But have more important that 15 00:00:34,440 --> 00:00:37,960 Speaker 1: can bring the context to you if you want to 16 00:00:38,040 --> 00:00:41,519 Speaker 1: know how to navigate this changing world. Now, we look 17 00:00:41,520 --> 00:00:43,760 Speaker 1: at it from a lot of areas, Like I said, politics, finance, 18 00:00:43,760 --> 00:00:48,120 Speaker 1: and technology, and boy, from the financial side. You know, 19 00:00:48,159 --> 00:00:52,159 Speaker 1: we're seeing the end of a hundred year sovereign debt crisis, 20 00:00:52,320 --> 00:00:54,880 Speaker 1: something that none of us living have ever been through 21 00:00:54,920 --> 00:01:00,680 Speaker 1: today and it's definitely interesting, to say the least, watching 22 00:01:00,800 --> 00:01:06,039 Speaker 1: how this changes. We're seeing, you know, debt, the end 23 00:01:06,040 --> 00:01:10,039 Speaker 1: of this debt cycle. We saw that We're basically in 24 00:01:10,120 --> 00:01:12,919 Speaker 1: a giant Ponzi scheme. If we don't continue to expand 25 00:01:13,000 --> 00:01:15,880 Speaker 1: the debt, then everything falls apart. Right, That's what happens 26 00:01:15,880 --> 00:01:17,600 Speaker 1: with Ponzi schemes. So I they don't keep getting bigger, 27 00:01:17,800 --> 00:01:19,640 Speaker 1: then they deflate and the whole thing falls apart. And 28 00:01:19,640 --> 00:01:21,720 Speaker 1: that's basically what our entire financial system is, that the 29 00:01:21,720 --> 00:01:25,880 Speaker 1: giant Ponzi scheme. You can't taper a Ponzi. The problem 30 00:01:26,080 --> 00:01:29,440 Speaker 1: is is that as you continue to fill that Ponzi, 31 00:01:29,720 --> 00:01:33,640 Speaker 1: as you continue to inflate it, you get well inflation. Right, 32 00:01:33,920 --> 00:01:37,040 Speaker 1: not only does the money supply inflate, the prices of 33 00:01:37,080 --> 00:01:40,840 Speaker 1: everything inflates. And I saw, you know, it became a 34 00:01:41,200 --> 00:01:45,000 Speaker 1: very very hot topic for the Biden administration running on 35 00:01:45,040 --> 00:01:49,320 Speaker 1: his last presidential campaign because everybody was feeling the pain 36 00:01:49,480 --> 00:01:53,080 Speaker 1: of inflation. But that's what happens. There's just no way 37 00:01:53,120 --> 00:01:54,760 Speaker 1: out of it. I've been on record, I'm saying it 38 00:01:54,800 --> 00:01:56,040 Speaker 1: over and over and I'll say it again right now. 39 00:01:56,080 --> 00:01:58,320 Speaker 1: I believe that we're seeing some of the lowest inflation 40 00:01:58,400 --> 00:02:02,680 Speaker 1: we'll see for the decade now. A lot of people 41 00:02:02,680 --> 00:02:05,760 Speaker 1: say it's peaked, but it hasn't. We did see I 42 00:02:05,800 --> 00:02:08,920 Speaker 1: think it was last September, the inflation, as measured by 43 00:02:08,919 --> 00:02:11,359 Speaker 1: the CPI Consumer Price Index was as high as I 44 00:02:11,400 --> 00:02:14,720 Speaker 1: believe nine point one, which was amazing. That means that 45 00:02:14,760 --> 00:02:20,000 Speaker 1: you're losing about ten percent of your purchasing power per year. 46 00:02:20,400 --> 00:02:21,679 Speaker 1: So if you had one hundred thousand dollars in the 47 00:02:21,720 --> 00:02:23,040 Speaker 1: bank at the end of the year, you still have 48 00:02:23,080 --> 00:02:25,400 Speaker 1: one hundred thousand, but it only buys you ninety thousand 49 00:02:25,440 --> 00:02:27,840 Speaker 1: dollars worth of goods. Of course, that's a fake number, 50 00:02:27,880 --> 00:02:31,160 Speaker 1: it's not real. But as that CPI number has come down, 51 00:02:31,520 --> 00:02:33,799 Speaker 1: I'm gonna get back to that in a second. As 52 00:02:33,800 --> 00:02:36,560 Speaker 1: that numbers come down. We just saw the latest CPI 53 00:02:36,600 --> 00:02:38,080 Speaker 1: prank come out this week and it was in the 54 00:02:38,280 --> 00:02:45,160 Speaker 1: five percent range, five point one, I believe, and in maybe, 55 00:02:45,360 --> 00:02:49,480 Speaker 1: oh man, it's hard to say this maybe one of 56 00:02:49,840 --> 00:02:52,200 Speaker 1: the most I have to say, one of one of 57 00:02:52,240 --> 00:02:57,000 Speaker 1: the most tone deaf responses from the Biden administrations the 58 00:02:57,040 --> 00:03:03,960 Speaker 1: White House came this week in an advertisement that had 59 00:03:04,080 --> 00:03:10,400 Speaker 1: President Joe Biden grinning wearing Aviator sunglasses next to an 60 00:03:10,400 --> 00:03:16,440 Speaker 1: announcement of quote, good news, good news, inflation has fallen 61 00:03:16,639 --> 00:03:21,440 Speaker 1: forty five percent from its peak. President Jo Biden, He's 62 00:03:21,840 --> 00:03:28,120 Speaker 1: he's running ads taking credit for bringing inflation down forty 63 00:03:28,240 --> 00:03:32,880 Speaker 1: five percent, but what does that even mean? So look, 64 00:03:33,000 --> 00:03:37,080 Speaker 1: here's what it means. As inflation goes up by ten 65 00:03:37,160 --> 00:03:39,640 Speaker 1: percent or call five percent a year, it goes up 66 00:03:39,640 --> 00:03:43,440 Speaker 1: by five percent a year. That means every year prices 67 00:03:43,480 --> 00:03:45,360 Speaker 1: are going up five percent, which is is false. I'm 68 00:03:45,360 --> 00:03:47,280 Speaker 1: gonna read you some charts here in a second. It's 69 00:03:47,320 --> 00:03:50,360 Speaker 1: more like fifteen to twenty percent. But let's just say 70 00:03:50,360 --> 00:03:53,119 Speaker 1: it's going up by five percent a year. Well, when 71 00:03:53,120 --> 00:03:55,720 Speaker 1: inflation went as high as nine percent and now it's 72 00:03:55,760 --> 00:03:59,520 Speaker 1: down to five percent, that means that prices are still 73 00:03:59,560 --> 00:04:02,320 Speaker 1: going up up. That means your cost of living is 74 00:04:02,360 --> 00:04:06,320 Speaker 1: still going up. Your quality of life is going down. 75 00:04:06,960 --> 00:04:09,839 Speaker 1: That means you're having to work more hours of your 76 00:04:10,040 --> 00:04:12,880 Speaker 1: life to have the same quality of life that you 77 00:04:12,960 --> 00:04:17,719 Speaker 1: did before. It's still going up, just at a slower rate. 78 00:04:18,960 --> 00:04:24,320 Speaker 1: So while he's grinning, running ads promoting the good news 79 00:04:24,360 --> 00:04:27,200 Speaker 1: that it's fallen from its summer peak, well, prices are 80 00:04:27,240 --> 00:04:29,560 Speaker 1: still going up, My quality of life is still going down. 81 00:04:29,720 --> 00:04:32,800 Speaker 2: It's just going down a little bit less slowly. Is 82 00:04:32,839 --> 00:04:35,599 Speaker 2: that something to be proud about? 83 00:04:36,360 --> 00:04:40,560 Speaker 1: Headline inflation declined to a five percent year over year. 84 00:04:40,640 --> 00:04:46,360 Speaker 1: I'm still losing five percent, which, by the way, their 85 00:04:46,400 --> 00:04:50,160 Speaker 1: target is two percent, so it's still more than double 86 00:04:51,480 --> 00:04:54,240 Speaker 1: what the economic policy is, still more than double. I 87 00:04:54,240 --> 00:04:57,559 Speaker 1: would not call that a success, but I love the spin. 88 00:04:58,080 --> 00:05:02,360 Speaker 1: It's the glass half full, glass half empty. But it's 89 00:05:02,880 --> 00:05:04,880 Speaker 1: sort of like this let them eat cake. 90 00:05:05,160 --> 00:05:06,159 Speaker 2: A kind of a thing. 91 00:05:06,360 --> 00:05:10,080 Speaker 1: I think, like I said, remain they had no mention 92 00:05:11,160 --> 00:05:13,400 Speaker 1: where were the fact checkers? Where are the fact checkers 93 00:05:13,400 --> 00:05:17,520 Speaker 1: in this? No mention that it's much higher than it's 94 00:05:17,560 --> 00:05:20,920 Speaker 1: supposed to be. Never mind that it's several times higher 95 00:05:20,960 --> 00:05:24,240 Speaker 1: in comparison to where it was just two years ago. 96 00:05:24,760 --> 00:05:28,400 Speaker 1: Never Mind that core inflation, which takes out some of 97 00:05:28,440 --> 00:05:31,359 Speaker 1: the more volatile categories, increased at five point six percent. 98 00:05:31,440 --> 00:05:34,320 Speaker 1: Never mind any of that. Now to get into some 99 00:05:34,360 --> 00:05:40,000 Speaker 1: of these numbers here we can see, oh boy, overall 100 00:05:40,040 --> 00:05:43,680 Speaker 1: prices are almost fifteen percent higher than they were two 101 00:05:43,760 --> 00:05:47,920 Speaker 1: years ago. The cost of essentials like groceries have gone 102 00:05:47,960 --> 00:05:51,400 Speaker 1: up much faster now. The problem with this overall number 103 00:05:51,520 --> 00:05:54,040 Speaker 1: is inflation hits all of us differently. If you live 104 00:05:54,080 --> 00:05:56,560 Speaker 1: in your parents parents' basement and eat cheetos and watch 105 00:05:56,640 --> 00:05:58,960 Speaker 1: Netflix like, your costs haven't gone up at all if 106 00:05:59,000 --> 00:06:00,760 Speaker 1: you're trying. You know, if you're trying to buy a 107 00:06:00,760 --> 00:06:02,760 Speaker 1: home in a high value area, or send your kids 108 00:06:02,800 --> 00:06:05,080 Speaker 1: to college, or paying big medical bills, it probably hits 109 00:06:05,080 --> 00:06:05,720 Speaker 1: you a lot more. 110 00:06:06,960 --> 00:06:07,200 Speaker 2: Now. 111 00:06:07,360 --> 00:06:09,760 Speaker 1: One of the big problems is prices go up, wages 112 00:06:09,839 --> 00:06:13,040 Speaker 1: have not kept up. As a matter of fact, utilities 113 00:06:13,040 --> 00:06:16,919 Speaker 1: and gas have increased by twenty percent or more. Utilities 114 00:06:16,920 --> 00:06:22,360 Speaker 1: and gas now in California, in Southern California specifically, gas 115 00:06:22,600 --> 00:06:26,080 Speaker 1: utilities and gas specifically has gone up by almost four 116 00:06:26,480 --> 00:06:30,600 Speaker 1: hundred percent in the last year, three hundred and eighty 117 00:06:30,640 --> 00:06:34,559 Speaker 1: three percent. Wages certainly haven't kept up with that. Since 118 00:06:34,640 --> 00:06:38,200 Speaker 1: April of twenty twenty one, the cost of preparing food 119 00:06:38,240 --> 00:06:40,760 Speaker 1: at home has risen by almost twenty percent. So you 120 00:06:40,800 --> 00:06:42,480 Speaker 1: want to just save money, don't go out to eat well, 121 00:06:43,560 --> 00:06:45,360 Speaker 1: preparing food to homes going out by twenty percent now. 122 00:06:45,360 --> 00:06:48,040 Speaker 1: That also depends on what you eat. If you eat 123 00:06:48,120 --> 00:06:51,160 Speaker 1: ribbis and drink milk, your costs have gone up way 124 00:06:51,200 --> 00:06:52,960 Speaker 1: more than if you're eating stuff out of a box. 125 00:06:55,279 --> 00:06:58,640 Speaker 1: The cost of gas is up twenty two percent compared 126 00:06:58,680 --> 00:07:00,880 Speaker 1: to two years ago. That means you used to be 127 00:07:00,920 --> 00:07:03,320 Speaker 1: able to fill up your gas a gas tank. Now 128 00:07:03,360 --> 00:07:06,440 Speaker 1: you can fill it up three quarters of the way. 129 00:07:07,400 --> 00:07:11,960 Speaker 1: Travel from April twenty one prices are up thirty six percent. 130 00:07:12,400 --> 00:07:15,600 Speaker 1: Hotel prices are up thirty one percent, so you get 131 00:07:15,600 --> 00:07:18,480 Speaker 1: to take less trips, goold to go less places. Utilities 132 00:07:18,480 --> 00:07:21,760 Speaker 1: have surged since twenty twenty one. As I said, electricity 133 00:07:21,800 --> 00:07:23,800 Speaker 1: and pipe gas are twenty one percent twenty six percent. 134 00:07:24,040 --> 00:07:26,800 Speaker 1: But again in SoCal, my gas prices are up three 135 00:07:26,880 --> 00:07:30,960 Speaker 1: hundred and eighty three percent. Now the media wants to 136 00:07:31,000 --> 00:07:34,320 Speaker 1: run cover for the feed on this, of course, running 137 00:07:34,360 --> 00:07:38,640 Speaker 1: ads with Joe Biden with his aviator glasses telling you 138 00:07:38,680 --> 00:07:40,440 Speaker 1: that there's no inflation. The same people that told you 139 00:07:40,480 --> 00:07:42,000 Speaker 1: there was no inflation, the same people that told you 140 00:07:42,040 --> 00:07:45,880 Speaker 1: inflation was transitory. Now they're trying to tell us that 141 00:07:45,920 --> 00:07:51,040 Speaker 1: inflation is good for us. They said, you know, it 142 00:07:51,120 --> 00:07:55,040 Speaker 1: only hurts the rich. It's the consumer's fault. It's greedy 143 00:07:55,120 --> 00:08:00,320 Speaker 1: business's fault. They're raising prices. It's Putin's faults, right, so 144 00:08:00,360 --> 00:08:04,800 Speaker 1: everyone else's fault. But a recent headline pondered, quote, inflation 145 00:08:05,040 --> 00:08:10,920 Speaker 1: is falling, why aren't people noticing, Like really, it's because 146 00:08:10,960 --> 00:08:12,160 Speaker 1: we live in the real world and I got to 147 00:08:12,200 --> 00:08:14,000 Speaker 1: put gas in my tank, and I gotta go buy 148 00:08:14,000 --> 00:08:17,120 Speaker 1: food at the store. So whatever you want to tell us, 149 00:08:17,680 --> 00:08:21,360 Speaker 1: the number is, whatever you want to tell us, inflation is. 150 00:08:21,680 --> 00:08:23,840 Speaker 2: It doesn't really matter. We know what it is. 151 00:08:24,000 --> 00:08:25,800 Speaker 1: Because I gotta put money out of my pocket and 152 00:08:25,880 --> 00:08:28,480 Speaker 1: I know that my paycheck is not covering my cost 153 00:08:28,520 --> 00:08:29,280 Speaker 1: of goods anymore. 154 00:08:30,280 --> 00:08:31,360 Speaker 2: And I have to tell you. 155 00:08:31,400 --> 00:08:34,679 Speaker 1: Business moguls warn the crunch is far from over. As 156 00:08:34,720 --> 00:08:36,680 Speaker 1: a matter of fact, Warren Buffett says that we are 157 00:08:36,720 --> 00:08:40,400 Speaker 1: not over bank failures, and Jeremy Grantham says the best 158 00:08:40,400 --> 00:08:43,640 Speaker 1: we can hope for the best is the stock market 159 00:08:43,760 --> 00:08:47,640 Speaker 1: shedding one quarter of its current value. That's a twenty 160 00:08:47,679 --> 00:08:49,800 Speaker 1: five percent drop. He says, that's the best we can 161 00:08:49,840 --> 00:08:53,600 Speaker 1: hope for. Other things will break, he says, and who 162 00:08:53,679 --> 00:08:56,640 Speaker 1: knows what they'll be. Well, we do know that it's 163 00:08:56,679 --> 00:08:58,240 Speaker 1: breaking people's budgets. 164 00:08:58,400 --> 00:08:58,720 Speaker 2: All right. 165 00:08:58,760 --> 00:08:59,839 Speaker 1: If you're just tune in and you listen to the 166 00:08:59,840 --> 00:09:01,559 Speaker 1: Mark Show, I'm gonna take a quick break and I'm 167 00:09:01,559 --> 00:09:02,720 Speaker 1: gonna come back with some. 168 00:09:02,600 --> 00:09:04,960 Speaker 2: Really big headlines. So don't go away. 169 00:09:05,080 --> 00:09:07,920 Speaker 1: I'll be right back, all right, Welcome back. If you're 170 00:09:07,920 --> 00:09:09,840 Speaker 1: just tune in, you're listening to the Mark Mas Show. 171 00:09:09,880 --> 00:09:12,520 Speaker 1: Of course, we're talking about the decentralized revolution, and we're 172 00:09:12,920 --> 00:09:15,120 Speaker 1: running through some of the biggest news headlines this week, 173 00:09:15,200 --> 00:09:17,600 Speaker 1: so you understand what is going on. The play by 174 00:09:17,640 --> 00:09:20,559 Speaker 1: play here of how the world's changing through the lens 175 00:09:20,559 --> 00:09:24,160 Speaker 1: of course, politics, finance, and technology, and of course those 176 00:09:24,280 --> 00:09:29,520 Speaker 1: three come together when we talk about bitcoin and cryptocurrencies. 177 00:09:30,559 --> 00:09:33,040 Speaker 1: That is the perfect intersection, which of course is why 178 00:09:33,080 --> 00:09:36,359 Speaker 1: I've chosen that it is the Venn diagram. It is politics, 179 00:09:36,360 --> 00:09:38,280 Speaker 1: it is finance, and it is technology. 180 00:09:38,280 --> 00:09:42,880 Speaker 2: It's the merger of those three things. And we are seeing. 181 00:09:45,520 --> 00:09:50,240 Speaker 1: The transitionary process. You know, in chemistry you have to 182 00:09:50,280 --> 00:09:53,719 Speaker 1: mix chemicals together, they have a reaction and as they 183 00:09:53,880 --> 00:09:57,920 Speaker 1: change state, it's a very messy process. 184 00:09:59,400 --> 00:10:00,280 Speaker 2: That's where we're at. 185 00:10:00,600 --> 00:10:03,880 Speaker 1: The old system is trying to fight and remain relevant 186 00:10:04,000 --> 00:10:05,520 Speaker 1: while the new system is wiping out. 187 00:10:05,559 --> 00:10:07,200 Speaker 2: So it's called creative destruction. 188 00:10:08,160 --> 00:10:11,080 Speaker 1: A new thing is created and it destroys the old way, 189 00:10:11,080 --> 00:10:12,960 Speaker 1: but the old way doesn't want to give up, and 190 00:10:13,000 --> 00:10:15,720 Speaker 1: we're seeing the old system fighting back with everything. 191 00:10:15,760 --> 00:10:16,079 Speaker 2: It's god. 192 00:10:16,120 --> 00:10:18,760 Speaker 1: Of course, we're talking about the existing monetary system. It 193 00:10:18,760 --> 00:10:20,520 Speaker 1: hasn't changed in one hundred years, which is why it's 194 00:10:20,559 --> 00:10:25,000 Speaker 1: all being reset. The old system is old and it's broken, 195 00:10:25,200 --> 00:10:27,520 Speaker 1: and it doesn't work, and it will never work because 196 00:10:27,520 --> 00:10:30,559 Speaker 1: you can't create money from thin air. It doesn't work. 197 00:10:30,760 --> 00:10:33,959 Speaker 1: I mean, it works until it doesn't. But all these problems, 198 00:10:34,000 --> 00:10:36,280 Speaker 1: all these distortions, are because of that. And as we 199 00:10:36,360 --> 00:10:41,000 Speaker 1: have new inventions, new types of technologies like bitcoin and cryptocurrencies, 200 00:10:41,200 --> 00:10:42,920 Speaker 1: the old system wants to fight against that. We've been 201 00:10:42,920 --> 00:10:45,640 Speaker 1: talking about this a lot with the SEC Chairman Gary 202 00:10:45,640 --> 00:10:49,600 Speaker 1: Ginsler and this Operation Choke Point, trying to do everything 203 00:10:49,640 --> 00:10:51,800 Speaker 1: they cut they can to shut them down. He's been 204 00:10:51,840 --> 00:10:55,120 Speaker 1: going after all these different cryptocurrency exchanges shutting him down. 205 00:10:55,160 --> 00:10:57,600 Speaker 1: The latest one this week was Bittrix, which is one 206 00:10:57,600 --> 00:11:01,440 Speaker 1: of the longest running exchanges in the United States, which 207 00:11:01,520 --> 00:11:04,560 Speaker 1: I don't recommend them. They stole money out of my account. 208 00:11:05,559 --> 00:11:08,120 Speaker 1: I would never use them anyway, so I'm good riddance 209 00:11:08,160 --> 00:11:10,640 Speaker 1: to them in my opinion. But they shut down their 210 00:11:10,840 --> 00:11:14,760 Speaker 1: US operations, moving offshore because of the US regulations, and 211 00:11:14,800 --> 00:11:18,439 Speaker 1: they're still getting sued even though they're getting out of 212 00:11:18,480 --> 00:11:22,000 Speaker 1: the country. Coinbase, which is maybe the oldest and longest 213 00:11:22,040 --> 00:11:25,280 Speaker 1: lasting exchange in the United States, is now saying that 214 00:11:25,320 --> 00:11:28,640 Speaker 1: they wouldn't they might consider moving out of the US 215 00:11:28,679 --> 00:11:33,360 Speaker 1: and going to the UK because the market is the 216 00:11:33,440 --> 00:11:35,600 Speaker 1: regulations in the market in the US are so bad. 217 00:11:36,720 --> 00:11:39,440 Speaker 1: As a matter of fact, I did many videos about this. 218 00:11:39,480 --> 00:11:41,280 Speaker 1: I made some very bold claims that a lot of 219 00:11:41,280 --> 00:11:44,040 Speaker 1: people didn't like. And I said that I believe that 220 00:11:45,120 --> 00:11:48,320 Speaker 1: cryptocurrency as a category in the old days, we can 221 00:11:48,360 --> 00:11:49,600 Speaker 1: close your eyes and throw a dart and just make 222 00:11:49,679 --> 00:11:52,520 Speaker 1: money buying crypto. I think that's over because of the 223 00:11:52,600 --> 00:11:55,560 Speaker 1: regulatory hammer that was going to come down. And I said, 224 00:11:55,559 --> 00:11:57,800 Speaker 1: I think it would be good for bitcoin though, and 225 00:11:57,840 --> 00:12:00,600 Speaker 1: that's exactly what we're seeing. Gary Ginsler from the SEC 226 00:12:00,679 --> 00:12:03,760 Speaker 1: has been throwing around lawsuits left and right like crazy, 227 00:12:04,000 --> 00:12:06,400 Speaker 1: and he's come under a lot of fire, and rightfully 228 00:12:06,480 --> 00:12:09,079 Speaker 1: so I believe the SEC should shut down. He should, 229 00:12:09,080 --> 00:12:11,960 Speaker 1: he should, he should resign in disgrace. And now we 230 00:12:12,080 --> 00:12:17,080 Speaker 1: have lawmakers in the United States actually calling for his resignation. 231 00:12:17,880 --> 00:12:22,319 Speaker 1: Now this week he came under fire having to testify 232 00:12:22,400 --> 00:12:24,040 Speaker 1: in front of Congress. I want to pay play a 233 00:12:24,040 --> 00:12:27,480 Speaker 1: couple of clips here for you because it's pretty important 234 00:12:27,520 --> 00:12:29,120 Speaker 1: what they're saying here. So let's play a couple of clips. 235 00:12:29,160 --> 00:12:32,400 Speaker 1: You can hear exactly what they're talking about. Gensler and 236 00:12:32,480 --> 00:12:36,480 Speaker 1: what the problems are with his ambiguity when it comes 237 00:12:36,559 --> 00:12:37,240 Speaker 1: to regulations. 238 00:12:37,320 --> 00:12:38,400 Speaker 2: Is going to play this clip here? 239 00:12:40,160 --> 00:12:42,920 Speaker 3: Is ether a commodity or security? 240 00:12:42,960 --> 00:12:45,280 Speaker 4: And again it depends on the facts and the law, 241 00:12:45,360 --> 00:12:46,400 Speaker 4: and if there's a group of. 242 00:12:46,320 --> 00:12:48,760 Speaker 3: Its I'm asking about the facts and the law. Sitting 243 00:12:48,880 --> 00:12:51,320 Speaker 3: in your seat and the judgment you are making. 244 00:12:51,840 --> 00:12:54,720 Speaker 4: And so, mister chair, I think to you you would 245 00:12:54,760 --> 00:12:57,079 Speaker 4: not want me to prejudge, because I'm all. 246 00:12:56,840 --> 00:13:00,360 Speaker 3: You have prejudged on this. You've taken, You've taken fifty 247 00:13:00,440 --> 00:13:02,960 Speaker 3: enforcement actions. We're finding out as we go, as you 248 00:13:03,000 --> 00:13:05,880 Speaker 3: file suit, as people get wells notices, on what is 249 00:13:05,920 --> 00:13:09,280 Speaker 3: the security in your view and your agency's view. I'm 250 00:13:09,320 --> 00:13:11,880 Speaker 3: asking you a very simple question about the second largest 251 00:13:11,960 --> 00:13:12,800 Speaker 3: digital asset. 252 00:13:13,320 --> 00:13:14,040 Speaker 5: What is your view? 253 00:13:14,360 --> 00:13:16,440 Speaker 4: And my view is is if there's a group of 254 00:13:16,440 --> 00:13:19,680 Speaker 4: individuals in the mid middle, that the public is right. 255 00:13:19,720 --> 00:13:22,160 Speaker 3: So let me just ask a second question. Do you 256 00:13:22,160 --> 00:13:25,120 Speaker 3: think it serves the market for an object to be 257 00:13:25,720 --> 00:13:28,000 Speaker 3: viewed by the Commodities Regulator? Is a commodity? 258 00:13:28,640 --> 00:13:30,240 Speaker 1: So I'm gonna pause that for a seconds. This is 259 00:13:30,920 --> 00:13:34,480 Speaker 1: this is Patrick McHenry, the head of the Financial Service Committee, 260 00:13:34,600 --> 00:13:36,199 Speaker 1: interviewing Gary Ginsler. 261 00:13:36,240 --> 00:13:39,960 Speaker 2: The head of the SEC. And so he said, is 262 00:13:40,080 --> 00:13:43,840 Speaker 2: Athereum a security? Simple? 263 00:13:43,960 --> 00:13:46,520 Speaker 1: You as the R no question? Is it a security? 264 00:13:47,040 --> 00:13:52,200 Speaker 1: And Gary Ginsler the head of the SEC, and he's like, 265 00:13:52,920 --> 00:13:55,240 Speaker 1: wait a minute, you're the head of the SEC. Is it? 266 00:13:55,240 --> 00:13:56,400 Speaker 2: Well, it's not that easy. 267 00:13:56,880 --> 00:13:59,599 Speaker 1: And then he said, so is the regulatory is the 268 00:13:59,640 --> 00:14:02,720 Speaker 1: regular Tory market or environment? 269 00:14:02,840 --> 00:14:03,120 Speaker 2: Clear? 270 00:14:04,040 --> 00:14:08,000 Speaker 1: Well, so like, obviously it's not like if he can't 271 00:14:08,040 --> 00:14:10,600 Speaker 1: say yes or no to that is. 272 00:14:10,640 --> 00:14:11,559 Speaker 2: Obviously not clear. 273 00:14:12,080 --> 00:14:14,880 Speaker 1: He I mean, obviously right, it's either black or white 274 00:14:14,960 --> 00:14:15,320 Speaker 1: or it's not. 275 00:14:15,480 --> 00:14:16,079 Speaker 2: The laws. 276 00:14:16,800 --> 00:14:19,280 Speaker 1: Laws are supposed to be black or white. Laws are 277 00:14:19,280 --> 00:14:21,600 Speaker 1: meant to be black and white, and everybody's meant to 278 00:14:21,600 --> 00:14:24,280 Speaker 1: be able to know what those laws are so that 279 00:14:24,320 --> 00:14:26,880 Speaker 1: we can plan our lives according. 280 00:14:26,360 --> 00:14:27,560 Speaker 2: To what those laws are. 281 00:14:28,520 --> 00:14:31,680 Speaker 1: Like the game of basketball, everybody knows what the rules 282 00:14:31,760 --> 00:14:35,120 Speaker 1: of basketball are, the laws of basketball, and they're applied 283 00:14:35,160 --> 00:14:37,520 Speaker 1: to everybody equally. We can all read the rule book 284 00:14:37,680 --> 00:14:40,600 Speaker 1: and I can plan my game as a coach, I 285 00:14:40,600 --> 00:14:43,840 Speaker 1: can plan my game plan based off of those laws 286 00:14:43,880 --> 00:14:46,480 Speaker 1: that are written in stone for everybody to read. The 287 00:14:46,600 --> 00:14:48,520 Speaker 1: law is supposed to be that way. But here Gary 288 00:14:48,560 --> 00:14:52,840 Speaker 1: Ginsler is being accused of by Patrick mckenry of having. 289 00:14:53,440 --> 00:14:54,800 Speaker 2: Unclear laws. 290 00:14:56,280 --> 00:14:58,760 Speaker 1: And when he asks him a very clear yes or 291 00:14:58,760 --> 00:15:02,320 Speaker 1: no question is a of security? He can't even answer that. 292 00:15:02,360 --> 00:15:04,320 Speaker 1: Now he's trying to give this run around question. Well, 293 00:15:04,600 --> 00:15:07,200 Speaker 1: if it's controlled by different people, let's. 294 00:15:07,040 --> 00:15:09,760 Speaker 3: Hear that be viewed by the commodities regulator as a 295 00:15:09,760 --> 00:15:11,840 Speaker 3: commodity and the security is regulator to be viewed as 296 00:15:11,880 --> 00:15:15,480 Speaker 3: a security. Do you think that provides safety and soundness 297 00:15:15,480 --> 00:15:19,040 Speaker 3: for the product? Do you think it provides consumer protection? 298 00:15:19,120 --> 00:15:22,760 Speaker 3: Do you think it serves the value of innovation? I 299 00:15:22,840 --> 00:15:25,360 Speaker 3: think no should be a very simple answer for you here. 300 00:15:25,880 --> 00:15:28,440 Speaker 3: I think that uncertainty is bad, is it not? 301 00:15:28,800 --> 00:15:32,520 Speaker 4: And I think that Congress has said that there's one agency, 302 00:15:32,560 --> 00:15:34,760 Speaker 4: the security is an exchange commission under this commany. 303 00:15:34,880 --> 00:15:36,920 Speaker 3: You won't answer my question, and you're the head of 304 00:15:36,920 --> 00:15:38,640 Speaker 3: that agency, so give me a break. 305 00:15:38,720 --> 00:15:42,160 Speaker 4: Come on. I'm answering it in the generic because you 306 00:15:42,160 --> 00:15:44,800 Speaker 4: would not want me to speak about any one set 307 00:15:44,840 --> 00:15:46,240 Speaker 4: of facts and circumstance. 308 00:15:46,720 --> 00:15:50,120 Speaker 3: Okay, so, but you've already spoken. Have you said anything 309 00:15:50,120 --> 00:15:50,880 Speaker 3: about bitcoin? 310 00:15:52,120 --> 00:15:55,480 Speaker 1: So he is the head he's supposed to be saying 311 00:15:55,840 --> 00:15:59,240 Speaker 1: what it is. And the laws are so ambiguous and 312 00:15:59,280 --> 00:16:02,800 Speaker 1: they want them this way, so they can arbitrarily assign 313 00:16:02,960 --> 00:16:04,720 Speaker 1: them as they see fit. 314 00:16:06,840 --> 00:16:09,400 Speaker 2: That's the whole point. Now, this is a. 315 00:16:09,200 --> 00:16:14,440 Speaker 1: Big, big problem for reasons that are bigger than you 316 00:16:14,520 --> 00:16:15,480 Speaker 1: might understand. 317 00:16:15,600 --> 00:16:17,120 Speaker 2: Let's just hear the rest of this clip real quick. 318 00:16:18,880 --> 00:16:22,000 Speaker 4: My predecessors and the agency itself has spoken to them. 319 00:16:22,080 --> 00:16:25,880 Speaker 3: Okay, but you're not willing to do the same about ether. Okay, 320 00:16:26,040 --> 00:16:28,600 Speaker 3: So let me just step back. There's a lack of 321 00:16:28,640 --> 00:16:32,080 Speaker 3: clarity here in the marketplace. Can you at least agree 322 00:16:32,080 --> 00:16:32,360 Speaker 3: to that. 323 00:16:32,600 --> 00:16:35,280 Speaker 4: I think that the clarity is there, the laws clear. 324 00:16:35,360 --> 00:16:38,720 Speaker 3: Right, let me be let me be explicit about this. 325 00:16:39,040 --> 00:16:42,520 Speaker 3: The market doesn't see it. Your regulatory actions and the 326 00:16:42,520 --> 00:16:45,880 Speaker 3: CFTC's regulatory actions say that there's a great deal of 327 00:16:45,920 --> 00:16:48,560 Speaker 3: uncertainty here. It is the intention of this committee to 328 00:16:48,680 --> 00:16:53,640 Speaker 3: fix that uncertainty and actually provide sound legal basis for this. 329 00:16:55,480 --> 00:16:58,280 Speaker 2: So he said, so the market doesn't see it as clarity. 330 00:16:58,320 --> 00:16:58,960 Speaker 1: Do you think it's clear? 331 00:16:58,960 --> 00:17:00,440 Speaker 2: And he says, I think it is clear. 332 00:17:00,960 --> 00:17:02,880 Speaker 1: Okay, great, Well, if it's clear, then tell me is 333 00:17:02,880 --> 00:17:04,800 Speaker 1: it the are m of security or not? If it's clear, 334 00:17:05,359 --> 00:17:07,240 Speaker 1: But he can't. 335 00:17:08,560 --> 00:17:09,359 Speaker 2: This gets worse. 336 00:17:09,880 --> 00:17:14,719 Speaker 1: Uh, It's it's very apparent that inside the United States government, 337 00:17:14,720 --> 00:17:18,040 Speaker 1: the land of the free, no less the land of innovation, 338 00:17:18,240 --> 00:17:20,640 Speaker 1: the land that draws people from all over the world 339 00:17:20,720 --> 00:17:25,040 Speaker 1: to come here and innovate. Has two opposing factions within 340 00:17:25,080 --> 00:17:29,160 Speaker 1: the government. One that is clearly one hundred percent anti 341 00:17:29,280 --> 00:17:33,800 Speaker 1: innovation and technology, and another that continues to hold the 342 00:17:34,000 --> 00:17:37,560 Speaker 1: US ethos of having innovation and freedom. And these two 343 00:17:37,600 --> 00:17:39,040 Speaker 1: are coming to a head. I'm gonna talk about more. 344 00:17:39,080 --> 00:17:40,320 Speaker 1: I have more clips to play. When I come back. 345 00:17:40,320 --> 00:17:41,840 Speaker 1: I'm gonna take a quick break. You don't want to 346 00:17:41,840 --> 00:17:44,719 Speaker 1: miss it. You're listening to the Mark Maas Show. If 347 00:17:44,720 --> 00:17:46,640 Speaker 1: you're just tuning in, I got more to come. Don't 348 00:17:46,680 --> 00:17:47,040 Speaker 1: go away. 349 00:17:47,080 --> 00:17:49,879 Speaker 2: I'll be right back. All right, Welcome back. 350 00:17:49,880 --> 00:17:51,360 Speaker 1: If you're just tune in, you're listening to the Mark 351 00:17:51,440 --> 00:17:54,480 Speaker 1: Maas Show. We're talking about the decentralized revolution, of course, 352 00:17:54,720 --> 00:17:57,080 Speaker 1: looking that through the lens of politics, finance, and technology, 353 00:17:57,119 --> 00:17:57,800 Speaker 1: and we're looking at. 354 00:17:57,680 --> 00:17:59,720 Speaker 2: The intersection of those three things. 355 00:17:59,720 --> 00:18:05,080 Speaker 1: I was playing you some clips directly from the US lawmakers. 356 00:18:05,119 --> 00:18:07,679 Speaker 1: The Patrick McHenry, the head of Financial Service Committee, was 357 00:18:08,760 --> 00:18:11,760 Speaker 1: brought in Gary Ginslow, the head of the Securities Exchange 358 00:18:11,760 --> 00:18:16,159 Speaker 1: Commision the SEC, in for questioning because the SEC has 359 00:18:16,200 --> 00:18:20,399 Speaker 1: been on a war path seemingly to completely shut down 360 00:18:20,560 --> 00:18:26,840 Speaker 1: all freedom and all innovation and all progress to potentially 361 00:18:26,880 --> 00:18:31,440 Speaker 1: protect the incumbents, to stop creative destruction. The US is 362 00:18:31,480 --> 00:18:34,280 Speaker 1: the land of the free, and freedom brings creativity, and 363 00:18:34,359 --> 00:18:36,879 Speaker 1: creativity brings prosperity, which is why the United States has 364 00:18:36,920 --> 00:18:38,720 Speaker 1: been one of the most prosperous, not one of the 365 00:18:38,760 --> 00:18:41,600 Speaker 1: most prosperous nations in the history of the world. Which 366 00:18:41,600 --> 00:18:43,600 Speaker 1: is why the United States continues to lead the world, 367 00:18:43,680 --> 00:18:45,720 Speaker 1: which is why the United States still continues to draw 368 00:18:45,760 --> 00:18:47,679 Speaker 1: the best invidsed people in the world, and which is 369 00:18:47,680 --> 00:18:51,320 Speaker 1: why the United States will constantly out maneuver and outproduce 370 00:18:51,640 --> 00:18:55,800 Speaker 1: and out innovate authoritarian regimes like China and North Korea, etc. 371 00:18:56,880 --> 00:18:58,960 Speaker 1: But we clearly have a group, a faction inside the 372 00:18:59,040 --> 00:19:02,800 Speaker 1: United States government who are help bent on stopping that. 373 00:19:03,520 --> 00:19:06,000 Speaker 1: Now we know who some of these people are. Obviously, 374 00:19:06,440 --> 00:19:08,000 Speaker 1: Gary Ginsler is one of those. I'm gonna play aule 375 00:19:08,040 --> 00:19:08,880 Speaker 1: more clips free in a second. 376 00:19:08,960 --> 00:19:09,240 Speaker 5: We know. 377 00:19:10,760 --> 00:19:13,760 Speaker 1: Hillary Clinton. Hillary Clinton is on bent on a warpath 378 00:19:13,880 --> 00:19:18,240 Speaker 1: on bitcoin. She says that bitcoin threatens to destabilize the 379 00:19:18,280 --> 00:19:24,320 Speaker 1: financial system. Okay, bitcoin is a piece of code. It's 380 00:19:24,359 --> 00:19:30,359 Speaker 1: a decentralized protocol. If a decentralized protocol, if a piece 381 00:19:30,400 --> 00:19:35,600 Speaker 1: of code could destabilize the entire financial system, I think 382 00:19:35,640 --> 00:19:38,960 Speaker 1: the financial system is ready to fall over dead. We 383 00:19:39,040 --> 00:19:42,080 Speaker 1: know Elizabeth Warren on a war path. She's literally running 384 00:19:42,119 --> 00:19:44,920 Speaker 1: on a campaign of anti crypto. Never heard of a 385 00:19:45,000 --> 00:19:47,399 Speaker 1: lawmaker run on a campaign to actually take away people's 386 00:19:47,400 --> 00:19:48,000 Speaker 1: freedoms before. 387 00:19:48,040 --> 00:19:48,760 Speaker 2: Pretty interesting. 388 00:19:50,600 --> 00:19:54,680 Speaker 1: So you can hear people like Patrick McHenry grilling Gary 389 00:19:54,680 --> 00:19:56,240 Speaker 1: Ginsler saying, what are you doing? 390 00:19:56,320 --> 00:19:57,720 Speaker 2: You're completely ruining this. 391 00:19:58,280 --> 00:20:00,920 Speaker 1: We have a coin base company in the United States, 392 00:20:00,920 --> 00:20:03,639 Speaker 1: as I said, bittrix companies in United States leaving the 393 00:20:03,760 --> 00:20:08,720 Speaker 1: United States. Now, where are they going? Well, where they're 394 00:20:08,760 --> 00:20:10,520 Speaker 1: going isn't necessarily as important. 395 00:20:10,600 --> 00:20:12,200 Speaker 2: So we know that the US. 396 00:20:12,040 --> 00:20:15,880 Speaker 1: Is losing, But where are they going? Why are they 397 00:20:15,920 --> 00:20:18,840 Speaker 1: going there? Why does the US want to lose his innovation? Now, 398 00:20:18,920 --> 00:20:20,679 Speaker 1: if you look back at all of the growth in 399 00:20:20,680 --> 00:20:22,280 Speaker 1: the United States in the last twenty years, that's really 400 00:20:22,280 --> 00:20:24,080 Speaker 1: set us apart from the whole rest of the world 401 00:20:24,320 --> 00:20:27,639 Speaker 1: has been that we have had internet technology. We've had 402 00:20:27,680 --> 00:20:29,840 Speaker 1: Facebook and Apple and Netflix and Google. 403 00:20:29,560 --> 00:20:31,520 Speaker 2: And Uber all here in the United States. 404 00:20:31,640 --> 00:20:33,439 Speaker 1: What if the US would have taken this policy with 405 00:20:33,520 --> 00:20:37,520 Speaker 1: internet companies thirty years ago, where would the US be 406 00:20:38,000 --> 00:20:40,919 Speaker 1: And that's exactly what they're trying to do. Oh and 407 00:20:40,960 --> 00:20:42,960 Speaker 1: it gets better. I want to play you a couple 408 00:20:43,000 --> 00:20:45,480 Speaker 1: of these clips right here. This is. 409 00:20:47,680 --> 00:20:50,560 Speaker 2: Rep Emmer. He is great, he. 410 00:20:50,720 --> 00:20:54,280 Speaker 1: Grilled SEC Chair Gary Ginns. 411 00:20:54,359 --> 00:20:55,639 Speaker 2: Let's play a couple of these clips. 412 00:20:55,520 --> 00:20:57,679 Speaker 5: Chair Genstler. I have a lot of questions in a 413 00:20:57,680 --> 00:20:59,439 Speaker 5: limited amount of time. So if you could keep your 414 00:20:59,520 --> 00:21:02,280 Speaker 5: answers to either a yes or no, that will allow 415 00:21:02,359 --> 00:21:03,960 Speaker 5: us to get through as many as possible. 416 00:21:04,040 --> 00:21:07,240 Speaker 1: Sir, I love this, Mister Emmer says, would you just 417 00:21:07,320 --> 00:21:09,000 Speaker 1: keep the answers to a yes or no? Because I 418 00:21:09,000 --> 00:21:12,040 Speaker 1: have a very limited amount of time. Of course, he's 419 00:21:12,040 --> 00:21:12,680 Speaker 1: not gonna be able to do that. 420 00:21:12,760 --> 00:21:14,639 Speaker 2: Let's let's listen in from your perspective. 421 00:21:14,680 --> 00:21:18,159 Speaker 5: It's more difficult now for the digital asset industry to 422 00:21:18,200 --> 00:21:21,480 Speaker 5: access financial products and services in the United States than 423 00:21:21,480 --> 00:21:23,320 Speaker 5: it was, say, two years ago. 424 00:21:23,720 --> 00:21:26,800 Speaker 4: Sir, I'm not running one of those businesses if they 425 00:21:26,840 --> 00:21:31,000 Speaker 4: came into compliance reclaiming my time, The answer, sir is yes. 426 00:21:31,880 --> 00:21:35,080 Speaker 1: So Operation Checkpoint. We've been talking about this for weeks. 427 00:21:35,440 --> 00:21:40,000 Speaker 1: The SEC and the FDIC and the FED have been 428 00:21:40,080 --> 00:21:43,400 Speaker 1: moving against banks specifically with crypto tizes and shutting them 429 00:21:43,440 --> 00:21:47,320 Speaker 1: down Operation Choke point two point zero. They are making 430 00:21:47,359 --> 00:21:52,040 Speaker 1: it where these crypto companies cannot get bank accounts. He 431 00:21:52,119 --> 00:21:54,359 Speaker 1: asked them a very question, Is it harder for these 432 00:21:54,400 --> 00:21:56,560 Speaker 1: companies to get bank accounts now than it was a 433 00:21:56,560 --> 00:21:57,080 Speaker 1: few years ago? 434 00:21:57,160 --> 00:21:57,320 Speaker 5: Yes? 435 00:21:57,400 --> 00:21:59,080 Speaker 1: Or no? It's a very simple question, yes or no. 436 00:22:00,000 --> 00:22:02,920 Speaker 1: Aginszer should know he's the head of the SEC that 437 00:22:03,040 --> 00:22:05,200 Speaker 1: is moving against these companies, shutting them down. But of 438 00:22:05,280 --> 00:22:07,520 Speaker 1: course he won't give you a straight answer, and mister 439 00:22:07,520 --> 00:22:09,000 Speaker 1: Emmer says, look, I'll answer it. 440 00:22:09,080 --> 00:22:10,520 Speaker 2: Yes, it's yes, all right, let's keep going. 441 00:22:10,760 --> 00:22:13,800 Speaker 5: Do you think you and the SEC have had a 442 00:22:13,880 --> 00:22:14,600 Speaker 5: role to play in that? 443 00:22:15,240 --> 00:22:17,400 Speaker 4: I think we have a role to protect the American 444 00:22:17,480 --> 00:22:19,120 Speaker 4: investor and the capital markets. 445 00:22:19,119 --> 00:22:21,360 Speaker 5: And then we'reclaiming my time, sir, you have played an 446 00:22:21,400 --> 00:22:24,600 Speaker 5: obvious role in that. Does it concern you, by the way, 447 00:22:24,600 --> 00:22:27,520 Speaker 5: that your approach to the digital asset industry is actually 448 00:22:27,600 --> 00:22:29,639 Speaker 5: driving this industry out of the United States. 449 00:22:29,880 --> 00:22:32,200 Speaker 4: We're trying to drive it to compliance, and if they're 450 00:22:32,200 --> 00:22:33,240 Speaker 4: not complying. 451 00:22:32,840 --> 00:22:34,439 Speaker 1: With now, I want to just let you know that 452 00:22:34,480 --> 00:22:39,040 Speaker 1: There was long pauses between those answers, again chewing up 453 00:22:39,080 --> 00:22:41,480 Speaker 1: his time, and him trying to think of the most 454 00:22:41,480 --> 00:22:44,119 Speaker 1: politically way to answer it. I've cut that out in 455 00:22:44,480 --> 00:22:47,720 Speaker 1: the sake of time here. So he says, does it 456 00:22:47,880 --> 00:22:51,080 Speaker 1: concern you that you're driving this technology and innovation offshore? 457 00:22:51,520 --> 00:22:54,679 Speaker 1: We're losing it in the United States, And that's his answer. 458 00:22:54,880 --> 00:22:57,639 Speaker 4: But the laws, then they shouldn't be offering their product. 459 00:22:57,640 --> 00:23:00,480 Speaker 5: You're claiming my time, Madam chair, I would like to 460 00:23:00,600 --> 00:23:03,120 Speaker 5: enter into the record this Wall Street Journal article from 461 00:23:03,160 --> 00:23:07,160 Speaker 5: April fourteenth, twenty twenty three, detailing China's ploy to open 462 00:23:07,160 --> 00:23:10,040 Speaker 5: its banking system to crypto firms in an effort to 463 00:23:10,080 --> 00:23:15,280 Speaker 5: seize an opportunity created by our hostile regulatory environment, which 464 00:23:16,080 --> 00:23:18,000 Speaker 5: mister Cherry, you're a big part of with that. 465 00:23:18,400 --> 00:23:22,919 Speaker 1: So by openly being hostile, by shutting down their banking, 466 00:23:23,000 --> 00:23:27,480 Speaker 1: by giving them no clear guidance, no regulatory framework, Gary 467 00:23:27,480 --> 00:23:29,199 Speaker 1: Gansler is telling these companies you need to come in 468 00:23:29,200 --> 00:23:31,600 Speaker 1: and register, but gives them no path to do so, 469 00:23:32,040 --> 00:23:35,960 Speaker 1: and then arbitrarily imposing rules and regulations anytime they want. 470 00:23:36,320 --> 00:23:37,840 Speaker 2: They're driving them. 471 00:23:37,720 --> 00:23:40,120 Speaker 1: Off shore, just like we announced, Just like I talked 472 00:23:40,160 --> 00:23:42,160 Speaker 1: about two different companies trying to leave the United States 473 00:23:42,200 --> 00:23:46,360 Speaker 1: right now, and per mister Emmer's reference to this Wall 474 00:23:46,359 --> 00:23:52,080 Speaker 1: Street Journal, China is openly accepting these. The Communist Chinese 475 00:23:52,119 --> 00:23:56,040 Speaker 1: Party is the main beneficiary of this, just like the 476 00:23:56,200 --> 00:23:59,520 Speaker 1: US shutting down all our energy, shutting down our oil fields, 477 00:23:59,800 --> 00:24:03,639 Speaker 1: like like Blackrock taking over Exon and forcing them to 478 00:24:04,200 --> 00:24:06,680 Speaker 1: divest from their oil fins. And who took those over? 479 00:24:06,920 --> 00:24:11,120 Speaker 1: Oh China did. Just like in Germany, they're shutting down 480 00:24:11,160 --> 00:24:13,880 Speaker 1: all the natural gas and energy went into war with Russia. 481 00:24:14,000 --> 00:24:17,520 Speaker 1: Now German companies can't afford to have energy, and they're 482 00:24:17,520 --> 00:24:18,040 Speaker 1: shutting down. 483 00:24:18,080 --> 00:24:18,800 Speaker 2: And where are they moving. 484 00:24:18,840 --> 00:24:23,159 Speaker 1: Oh they're moving to China. So the US in Europe 485 00:24:23,680 --> 00:24:27,439 Speaker 1: are doing the best job they can at destroying the 486 00:24:27,440 --> 00:24:29,320 Speaker 1: countries from within. And who are the main beneficiaries? 487 00:24:29,400 --> 00:24:30,880 Speaker 2: Oh that's China. Let's keep going. 488 00:24:31,040 --> 00:24:34,800 Speaker 5: Your regulatory style lacks flexibility and nuance, and as a result, 489 00:24:35,040 --> 00:24:38,480 Speaker 5: you've been an incompetent cop on the beat, doing nothing 490 00:24:38,560 --> 00:24:41,600 Speaker 5: to protect everyday Americans and pushing American firms into the 491 00:24:41,640 --> 00:24:45,360 Speaker 5: hands of the CCP. Your intention to work against sec 492 00:24:45,520 --> 00:24:48,560 Speaker 5: mission and put American investors in harm's way has been 493 00:24:48,560 --> 00:24:50,040 Speaker 5: made very apparent, Sir. 494 00:24:50,160 --> 00:24:53,280 Speaker 2: Some hard words but true. Harsh but true. 495 00:24:53,320 --> 00:24:56,639 Speaker 1: Now these as I said, there's very clearly two different 496 00:24:56,680 --> 00:25:01,200 Speaker 1: factions within the government. One that is clearly anti technology, 497 00:25:01,280 --> 00:25:05,600 Speaker 1: anti innovation, anti freedom, and there are still some good 498 00:25:05,600 --> 00:25:07,160 Speaker 1: people who are trying to protect us. 499 00:25:07,200 --> 00:25:07,920 Speaker 2: As Rep. 500 00:25:07,960 --> 00:25:12,080 Speaker 1: Emmer goes on, there McHenry before him. Now inside the SEC, 501 00:25:12,200 --> 00:25:14,680 Speaker 1: there's also multiple people. Gary Ginsler is the head of that. 502 00:25:15,160 --> 00:25:18,080 Speaker 1: One of the one of the members inside the SEC 503 00:25:18,520 --> 00:25:22,199 Speaker 1: is Hester Pierce. Now, she came out and made some 504 00:25:22,200 --> 00:25:25,919 Speaker 1: statements this week. She said, quote, rather than embracing the 505 00:25:25,920 --> 00:25:27,800 Speaker 1: promise of new technology, as we've done in the past, 506 00:25:27,920 --> 00:25:32,400 Speaker 1: here we propose to embrace stagnation, force centralization, urge ex 507 00:25:32,520 --> 00:25:35,560 Speaker 1: pittate xpatriation, and welcome. 508 00:25:35,240 --> 00:25:38,600 Speaker 2: Extinction of new technology. End quote. Wow. 509 00:25:39,040 --> 00:25:41,400 Speaker 1: She goes on to say, no longer does this Commission 510 00:25:41,440 --> 00:25:44,000 Speaker 1: consider the real world effects of its exercise of authority. 511 00:25:44,240 --> 00:25:47,080 Speaker 1: No longer does the Commission worry that regulatory bullheadedness often 512 00:25:47,119 --> 00:25:52,040 Speaker 1: produces absurd consequences. And then this part here she says 513 00:25:52,240 --> 00:25:55,600 Speaker 1: Today's Commission treats its basic approach to exchange regulation as 514 00:25:55,600 --> 00:25:59,880 Speaker 1: something that must not, indeed cannot be altered to allow 515 00:26:00,040 --> 00:26:03,560 Speaker 1: room for new technologies or for new ways of doing business. 516 00:26:04,520 --> 00:26:06,520 Speaker 1: And then lat finally, she says the release sends a 517 00:26:06,560 --> 00:26:10,560 Speaker 1: message that we are uninterested in facility, facilitating innovation and 518 00:26:10,560 --> 00:26:14,840 Speaker 1: competition in the financial markets and instead seek to protect 519 00:26:15,280 --> 00:26:22,200 Speaker 1: incumbents end quote. So even within the SEC we have 520 00:26:22,280 --> 00:26:25,600 Speaker 1: these factions. Everybody can see what the heck is going 521 00:26:25,680 --> 00:26:29,960 Speaker 1: on where the land of the Free. You're taking away 522 00:26:30,000 --> 00:26:33,040 Speaker 1: people's freedoms. You're arbitrarily creating rules. 523 00:26:33,119 --> 00:26:35,880 Speaker 2: You think you're a king. You can't even clearly define them. 524 00:26:35,920 --> 00:26:38,359 Speaker 1: When you're asked a point blank question by the head 525 00:26:38,400 --> 00:26:40,520 Speaker 1: of the Financial Service Committee, you can't even answer it. 526 00:26:40,880 --> 00:26:43,560 Speaker 1: You say there's clarity, but there's not. You're telling companies 527 00:26:43,560 --> 00:26:46,359 Speaker 1: to register, but you give them no path. You're openly 528 00:26:47,000 --> 00:26:51,040 Speaker 1: pushing countries offshore into the hands of the enemies. That's 529 00:26:51,040 --> 00:26:53,320 Speaker 1: what they're that's what they're saying, and I agree with that. 530 00:26:54,200 --> 00:26:55,919 Speaker 1: I agree with that. Just tune in right now you're 531 00:26:55,920 --> 00:26:58,719 Speaker 1: listening to the Mark mass Show talking about the decentralized Revolution. 532 00:26:58,760 --> 00:27:02,040 Speaker 1: I'm talking about, of course, as always, the intersection of politics, finance, 533 00:27:02,080 --> 00:27:03,440 Speaker 1: and technology. 534 00:27:02,960 --> 00:27:06,680 Speaker 2: And that's exactly what that is. Now. 535 00:27:07,000 --> 00:27:08,439 Speaker 1: I got a lot more to cover. It was a 536 00:27:08,440 --> 00:27:10,879 Speaker 1: busy week, so I got some more stuff coming. Uh, 537 00:27:11,080 --> 00:27:12,920 Speaker 1: don't go away. I'm gonna take a quick break. I'll 538 00:27:12,920 --> 00:27:15,159 Speaker 1: be right back. All right, Welcome back. If you're just 539 00:27:15,200 --> 00:27:17,359 Speaker 1: tune in, you're listening to the Mark mass Show, of course, 540 00:27:17,720 --> 00:27:21,080 Speaker 1: always talking about the decentralized revolution. We're running through some 541 00:27:21,080 --> 00:27:22,840 Speaker 1: of the latest breaking news headlines this week so you 542 00:27:22,880 --> 00:27:25,480 Speaker 1: can understand the world from a better context. As I said, 543 00:27:26,000 --> 00:27:28,439 Speaker 1: as I always say, looking at through the lens of politics, finance, 544 00:27:28,480 --> 00:27:32,160 Speaker 1: and technology, and it's boy, it's just it's interesting when 545 00:27:32,160 --> 00:27:34,040 Speaker 1: you can look at the world through that, because it 546 00:27:34,080 --> 00:27:38,680 Speaker 1: starts connecting so many dots. You know, when we look 547 00:27:38,720 --> 00:27:41,199 Speaker 1: at technology again, as I always say, it's technology that 548 00:27:41,280 --> 00:27:45,600 Speaker 1: changes the world more than anything, and it's certainly changing 549 00:27:45,720 --> 00:27:47,800 Speaker 1: the world right now, how we communicate, how we organize, 550 00:27:48,040 --> 00:27:52,679 Speaker 1: and things like that. And of course it's it's the 551 00:27:52,720 --> 00:27:56,200 Speaker 1: technology that's going to change the world. And so on 552 00:27:56,200 --> 00:27:58,560 Speaker 1: one hand, it's the technology that work on a want 553 00:27:58,920 --> 00:28:02,440 Speaker 1: we the people will want to continue to have this innovation, 554 00:28:02,680 --> 00:28:05,439 Speaker 1: and innovation gives us a better life. It allows us 555 00:28:05,440 --> 00:28:08,000 Speaker 1: to communicate easier and work harder or work lass et cetera. 556 00:28:08,400 --> 00:28:12,760 Speaker 1: But it's the exact thing that the current leaders, the incumbents, 557 00:28:13,359 --> 00:28:16,840 Speaker 1: don't want because they don't want to be disrupted. They 558 00:28:16,880 --> 00:28:19,840 Speaker 1: don't want to lose their position, their incumbent position. 559 00:28:21,880 --> 00:28:22,119 Speaker 2: You know. 560 00:28:22,480 --> 00:28:26,720 Speaker 1: It's the reason why a company like Kodak, who even 561 00:28:26,760 --> 00:28:31,280 Speaker 1: invented the digital camera, can't embrace the digital camera and 562 00:28:31,359 --> 00:28:33,240 Speaker 1: end up going out of business one hundred year a 563 00:28:33,280 --> 00:28:35,240 Speaker 1: century old company, one of the largest companies in the 564 00:28:35,320 --> 00:28:37,639 Speaker 1: United States at the time at a certain time. And 565 00:28:37,640 --> 00:28:42,040 Speaker 1: it's because no company can really work to disrupt themselves. 566 00:28:43,720 --> 00:28:47,200 Speaker 1: You always just try to hang on. And who cares 567 00:28:48,400 --> 00:28:52,560 Speaker 1: the damage and destruction that gets left behind? Who cares 568 00:28:52,560 --> 00:28:55,520 Speaker 1: about the innovation that gets stifled? Who cares about the 569 00:28:55,520 --> 00:29:00,560 Speaker 1: toes that gets stepped on in its wake? And one 570 00:29:00,600 --> 00:29:02,920 Speaker 1: of those is playing out in real time. I've been 571 00:29:02,960 --> 00:29:05,920 Speaker 1: talking about this, it's really being played out. In order 572 00:29:05,960 --> 00:29:10,440 Speaker 1: for the governments to continue to commander control, they have 573 00:29:10,520 --> 00:29:14,560 Speaker 1: to control the flow of information. There's a bill being 574 00:29:14,560 --> 00:29:17,720 Speaker 1: put forth called the restrict Act that made a whole 575 00:29:17,760 --> 00:29:19,640 Speaker 1: bunch of noise, including I was talking about here, and 576 00:29:19,640 --> 00:29:21,200 Speaker 1: now it seems to have gone a little bit quiet. 577 00:29:21,240 --> 00:29:24,800 Speaker 1: But basically, the United States government, the land of the Free, 578 00:29:25,320 --> 00:29:29,400 Speaker 1: is trying to pass a bill that they can again arbitrarily, 579 00:29:29,480 --> 00:29:33,080 Speaker 1: unilaterally decide any piece of technology that they deem to 580 00:29:33,120 --> 00:29:35,360 Speaker 1: be illegal is just illegal, and if you use it, 581 00:29:35,360 --> 00:29:38,240 Speaker 1: you just die, not die, but literally almost die, like 582 00:29:38,280 --> 00:29:40,320 Speaker 1: literally have all your property taken in twenty years in prison, 583 00:29:40,320 --> 00:29:45,240 Speaker 1: million dollar fine. And this seems to be really getting 584 00:29:45,360 --> 00:29:49,640 Speaker 1: drummed up to where I should say, there's other events 585 00:29:49,640 --> 00:29:54,960 Speaker 1: that have happened since then that seem to be being used, 586 00:29:55,000 --> 00:29:57,000 Speaker 1: never letting the crisis go to waste, being used to 587 00:29:57,080 --> 00:30:00,600 Speaker 1: even push that agenda further. I talked about, we talked 588 00:30:00,640 --> 00:30:03,280 Speaker 1: about last week talking about these these Pentagon paper leaks, 589 00:30:04,400 --> 00:30:06,760 Speaker 1: and there's a lot there, there's a lot to unpack, 590 00:30:06,760 --> 00:30:13,480 Speaker 1: and there's more unfolding, and that the problem that I see, 591 00:30:14,040 --> 00:30:17,160 Speaker 1: like a lot of these very similar situations, is the 592 00:30:17,400 --> 00:30:20,920 Speaker 1: leaked information is what we should be discussing, but all 593 00:30:20,920 --> 00:30:24,080 Speaker 1: we do is focus on the leak itself. Like when 594 00:30:24,080 --> 00:30:28,320 Speaker 1: the Hunter Biden laptop was found during Biden's presidential run, 595 00:30:29,080 --> 00:30:31,840 Speaker 1: nobody wanted to talk about. When I say nobody, none 596 00:30:31,880 --> 00:30:35,479 Speaker 1: of the mainstream legacy media. I hate to even call 597 00:30:35,520 --> 00:30:42,200 Speaker 1: them mainstream more because they're certainly not mainstream anymore. CNN, CNBC, 598 00:30:42,680 --> 00:30:46,240 Speaker 1: New York Times, they're legacy, they're not They're not mainstream. 599 00:30:46,320 --> 00:30:48,239 Speaker 1: And the reason why I say that is they're not. 600 00:30:48,400 --> 00:30:54,760 Speaker 1: They don't have the masses anymore. CNN, on their most 601 00:30:54,800 --> 00:31:00,760 Speaker 1: popular show at primetime gets five six seven hundred thousand 602 00:31:00,760 --> 00:31:05,120 Speaker 1: people watching. The other night, Elon Musk had a Twitter 603 00:31:05,160 --> 00:31:08,800 Speaker 1: space with three point three million people on at one time. 604 00:31:09,320 --> 00:31:13,800 Speaker 1: CNN's never got those numbers. Joe Rogan gets two hundred 605 00:31:13,920 --> 00:31:19,040 Speaker 1: million listens a month, two hundred million. So CNN, they're 606 00:31:19,040 --> 00:31:22,040 Speaker 1: certainly not mainstream, so I need to change my own vocabulary. 607 00:31:22,240 --> 00:31:26,200 Speaker 1: They're not mainstream their legacy. But this legacy media, instead 608 00:31:26,240 --> 00:31:28,920 Speaker 1: of talking about what was uncovered in the hundred Biden 609 00:31:29,000 --> 00:31:32,360 Speaker 1: laptop story and how all these ties showed Joe Biden's 610 00:31:32,400 --> 00:31:35,160 Speaker 1: brother and his son using Joe Biden's name to get 611 00:31:35,160 --> 00:31:37,320 Speaker 1: all these political favors and giving ten percent to the 612 00:31:37,320 --> 00:31:39,000 Speaker 1: big guy and all those things, they didn't want to 613 00:31:39,000 --> 00:31:40,440 Speaker 1: talk about any of that. Instead, they just want to 614 00:31:40,440 --> 00:31:42,600 Speaker 1: focus on how they got the laptop and how it's illegal, 615 00:31:43,720 --> 00:31:45,520 Speaker 1: and the same thing has happened with these Pentagon papers. 616 00:31:45,760 --> 00:31:48,920 Speaker 1: Mainstream media or sorry, there I go again, legacy media 617 00:31:48,960 --> 00:31:52,120 Speaker 1: continues to want to cover for them, getting to talk 618 00:31:52,120 --> 00:31:57,160 Speaker 1: about everything about the potential hacker and who leaked the 619 00:31:57,160 --> 00:31:59,480 Speaker 1: information and who he was and how he did it 620 00:31:59,520 --> 00:32:02,400 Speaker 1: and all these things, but not talking about any of 621 00:32:02,480 --> 00:32:08,160 Speaker 1: the information that came out from that, like, for example, 622 00:32:08,320 --> 00:32:12,520 Speaker 1: how the US government has spent hundreds of billions of 623 00:32:12,560 --> 00:32:16,680 Speaker 1: dollars in this war, hundreds of billions of dollars, and 624 00:32:16,840 --> 00:32:20,320 Speaker 1: how Ukraine is losing in a really, really big way. 625 00:32:20,320 --> 00:32:23,520 Speaker 1: As a matter of fact, Ukraine has seemingly already lost. 626 00:32:25,720 --> 00:32:28,040 Speaker 1: Of course, they don't want to admit that because what 627 00:32:28,160 --> 00:32:31,920 Speaker 1: else was found is that it's being used for massive 628 00:32:31,920 --> 00:32:37,400 Speaker 1: amounts of grift and theft. Four hundred million dollars potentially 629 00:32:37,560 --> 00:32:43,560 Speaker 1: or more has gone into these Ukrainian leader's pockets, four 630 00:32:43,640 --> 00:32:47,000 Speaker 1: hundred million dollars of your tax dollars, and of course 631 00:32:47,000 --> 00:32:49,400 Speaker 1: they don't want the fighting to be over because they 632 00:32:49,440 --> 00:32:53,000 Speaker 1: need to continue funneling money to themselves. Julianaisans who is 633 00:32:53,120 --> 00:32:56,080 Speaker 1: locked up for very similar blowing the whistle on these 634 00:32:56,120 --> 00:33:01,280 Speaker 1: illegal operations the US government does. Julianasans about the Afghanistan 635 00:33:01,320 --> 00:33:04,000 Speaker 1: war that really all it was was a way to 636 00:33:04,080 --> 00:33:07,360 Speaker 1: take taxpayer money and funnel it into their pockets. And 637 00:33:07,360 --> 00:33:12,040 Speaker 1: that's exactly what we saw release through these papers. That's 638 00:33:12,080 --> 00:33:14,760 Speaker 1: exactly what they're doing, taking hundreds of billions of dollars 639 00:33:14,840 --> 00:33:17,120 Speaker 1: from the taxpayers in the United States and put it 640 00:33:17,120 --> 00:33:21,080 Speaker 1: into Ukraine and funneling it directly into their pockets. So 641 00:33:21,120 --> 00:33:24,280 Speaker 1: we saw that people don't want that. They want to 642 00:33:24,320 --> 00:33:27,840 Speaker 1: keep it going for as long as they can. We 643 00:33:27,880 --> 00:33:31,400 Speaker 1: saw I saw this week. You know, Tucker Carlson really 644 00:33:31,440 --> 00:33:35,240 Speaker 1: has gone heavy on this, talking about how corporate media, 645 00:33:35,360 --> 00:33:38,760 Speaker 1: legacy media, is just covering all this up. No one's 646 00:33:38,840 --> 00:33:43,840 Speaker 1: asking any questions, Like the paper showed that it's actually 647 00:33:43,920 --> 00:33:46,880 Speaker 1: the US that's fighting the war with Russia, not through 648 00:33:46,880 --> 00:33:49,920 Speaker 1: a proxy through Ukraine but directly. Now we already know this. 649 00:33:50,080 --> 00:33:53,320 Speaker 1: I've already been talking about this. We saw the Russians 650 00:33:53,400 --> 00:33:57,000 Speaker 1: shot down an American plane. It was a drone, but 651 00:33:57,040 --> 00:33:59,640 Speaker 1: it was still a plane. Was what were they doing 652 00:33:59,640 --> 00:34:03,320 Speaker 1: over there? We know that the US is given all 653 00:34:03,440 --> 00:34:07,760 Speaker 1: this uh, cutting edge technology, heavy artillery to the Ukrainians 654 00:34:07,760 --> 00:34:12,360 Speaker 1: that take teams teams of trained people to run them. 655 00:34:12,520 --> 00:34:15,839 Speaker 1: They're they're they're requesting jets and tanks. They can't fly 656 00:34:16,000 --> 00:34:18,160 Speaker 1: those on their own. Of course, we know the US 657 00:34:18,239 --> 00:34:23,920 Speaker 1: is in on this, but nobody's asking that. You know, 658 00:34:23,960 --> 00:34:29,200 Speaker 1: nobody's asking about how the Pentagon or that. No one's 659 00:34:29,239 --> 00:34:34,400 Speaker 1: asking about how the administration got this information on the hacker, 660 00:34:34,960 --> 00:34:37,759 Speaker 1: no one. No one asked about how they used illegal 661 00:34:37,840 --> 00:34:43,080 Speaker 1: surveillance techniques to identify this kid and apparently had help 662 00:34:43,120 --> 00:34:45,200 Speaker 1: from the Washington Post of the New York Times. How 663 00:34:45,200 --> 00:34:47,120 Speaker 1: did the Washington Post and New York Times get access 664 00:34:47,160 --> 00:34:51,120 Speaker 1: to this information? They have security clearances. Nobody's asking those questions. 665 00:34:53,160 --> 00:34:56,120 Speaker 1: But like I said, it's uh, the the what was 666 00:34:56,280 --> 00:34:59,520 Speaker 1: in it was bad, which of course is why they're 667 00:34:59,520 --> 00:35:03,840 Speaker 1: not talking about it. US's spying on its allies. And 668 00:35:04,280 --> 00:35:06,960 Speaker 1: it just goes to show what happens to whistleblowers. I 669 00:35:07,000 --> 00:35:09,200 Speaker 1: remember Obama, he ran on a campaign saying that he 670 00:35:09,320 --> 00:35:12,920 Speaker 1: was he wanted to promote and protect whistleblowers, because of course, 671 00:35:12,920 --> 00:35:15,239 Speaker 1: why wouldn't you. If you want transparency, if you want 672 00:35:15,239 --> 00:35:18,400 Speaker 1: trust and truthfulness, then you need to allow whistle blowers. 673 00:35:18,400 --> 00:35:19,880 Speaker 1: That's what the that's what the press is supposed to 674 00:35:19,920 --> 00:35:22,200 Speaker 1: be for. That's why the press is protected so they 675 00:35:22,200 --> 00:35:25,719 Speaker 1: can do this. But yet here we have, you know, 676 00:35:25,800 --> 00:35:29,040 Speaker 1: this National guardsman supposed they leaked, and now he's all 677 00:35:29,040 --> 00:35:30,920 Speaker 1: over the news and he's probably gonna be thrown away 678 00:35:31,239 --> 00:35:33,920 Speaker 1: in a cell with the keys, thrown away for all eternity. 679 00:35:34,200 --> 00:35:38,000 Speaker 1: But yet we have Lieutenant Colonel Vinman admitted to leaking 680 00:35:38,040 --> 00:35:41,279 Speaker 1: documents meant to help Democrats impeach Trump and he never 681 00:35:41,320 --> 00:35:47,960 Speaker 1: served any time. You know, it's it's easy to see 682 00:35:50,640 --> 00:35:55,719 Speaker 1: the government from how they prosecute crimes, prosecute crimes against 683 00:35:57,520 --> 00:36:02,320 Speaker 1: the citizens, against each other, prosecute crimes against the government itself, 684 00:36:02,840 --> 00:36:07,040 Speaker 1: and now even more specifically over which side of the government. 685 00:36:07,719 --> 00:36:09,880 Speaker 1: So if you commit a crime against somebody else like 686 00:36:09,920 --> 00:36:11,800 Speaker 1: a New York for example, or Chicago. 687 00:36:11,520 --> 00:36:12,959 Speaker 2: No big deal. You don't even go to jail. 688 00:36:13,280 --> 00:36:16,080 Speaker 1: You commit crime against the government, well, it depends on 689 00:36:16,120 --> 00:36:18,160 Speaker 1: which side it is. If it's to help get Trump 690 00:36:18,200 --> 00:36:20,440 Speaker 1: out of office, no big deal. If it's about showing 691 00:36:20,760 --> 00:36:23,319 Speaker 1: the Biden administration failure, you're probably going to prison for 692 00:36:23,320 --> 00:36:24,960 Speaker 1: the rest of your life. And if you're tuned in 693 00:36:25,040 --> 00:36:26,839 Speaker 1: you're listening to the Mark mass Show. We've been talking 694 00:36:26,840 --> 00:36:28,320 Speaker 1: about the decentralized Revolution. 695 00:36:28,719 --> 00:36:30,520 Speaker 2: That's what I got this week. Thanks so much for listening. 696 00:36:30,640 --> 00:36:31,319 Speaker 2: Until next time,