WEBVTT - The Mark Moss Show Mar 18, 2022 0:00:00.880 --> 0:00:03.360 Hey everyone, welcome back to another episode of the Mark 0:00:03.440 --> 0:00:06.480 mass Show where we are talking about the decentralized revolution. 0:00:06.880 --> 0:00:10.200 Of course, we're talking about politics, finance, and technology all 0:00:10.280 --> 0:00:13.079 coming together to change the world as we know it. 0:00:13.119 --> 0:00:16.800 Of course that is bitcoin that is doing that now. UM. 0:00:17.000 --> 0:00:19.720 I try to bring you everything that you need, the education, 0:00:19.800 --> 0:00:23.040 the latest breaking news, and of course some interesting guests 0:00:23.040 --> 0:00:25.079 to give you some different insight in some different segments 0:00:25.079 --> 0:00:27.520 of the market. And that's what we're about to do 0:00:27.600 --> 0:00:31.240 right now. I'm sitting down joining the studio with Sam Callahan. 0:00:31.480 --> 0:00:34.080 You can find him on Twitter at Sam Cala c 0:00:34.280 --> 0:00:37.640 A L l a h. And he's a bitcoin analyst 0:00:37.880 --> 0:00:42.200 with Swan Bitcoin. UM. Anyway, Sam, thanks for joining me today. Yeah, Mark, 0:00:42.200 --> 0:00:45.839 thanks for having me on Glad to speak. Yeah. We 0:00:45.960 --> 0:00:48.159 uh we were just recently hanging out in uh in 0:00:48.280 --> 0:00:51.720 Vegas at the tone Vey's Unconfiscatable Conference. That was a 0:00:51.760 --> 0:00:55.760 pretty good time, great time. Yeah, super fun. I uh, 0:00:55.960 --> 0:00:57.880 I think I'm just barely getting my voice back from 0:00:57.880 --> 0:01:00.520 that man after a couple of day. It seems like 0:01:00.520 --> 0:01:03.840 it's always yeah, man, it's like the first thing that 0:01:03.880 --> 0:01:06.440 goes every time. I was like it was it was 0:01:06.440 --> 0:01:08.080 a fun event. It was. It was so so busy. 0:01:08.120 --> 0:01:09.680 I remember you you came up and You're like, oh, 0:01:09.840 --> 0:01:11.880 we're getting together next Thursday, right, And I was like, 0:01:12.520 --> 0:01:18.200 what the heck is next Thursday? Uh. But but but 0:01:18.240 --> 0:01:20.480 it didn't mean I wasn't looking forward to this because 0:01:20.520 --> 0:01:24.560 I was, UM, something that that's a conversation I've really 0:01:24.560 --> 0:01:27.640 been looking forward to having, and so I'm excited to 0:01:27.680 --> 0:01:31.479 dig into it with you today. UM. I've been talking 0:01:31.520 --> 0:01:38.039 a lot about UM one. Uh. People are thinking like, oh, this, 0:01:38.240 --> 0:01:41.400 this Russia, this Russia Ukraine war couldn't lead in into 0:01:41.480 --> 0:01:44.360 a World War three? Um. And I think they're thinking, 0:01:44.480 --> 0:01:46.360 you know what a war break up between US and China, 0:01:46.440 --> 0:01:48.880 or Russia, Russia and the US with nuclear war happened, 0:01:48.880 --> 0:01:51.000 things like that, And a lot of times I say, well, 0:01:51.440 --> 0:01:54.360 I think we're already in a World War three. Um. 0:01:54.400 --> 0:01:56.800 And that World War three is is is the government's 0:01:56.800 --> 0:01:58.880 against the people. But even more than just the governments, 0:01:58.880 --> 0:02:01.680 it's really what I've been calling a coup of the 0:02:01.720 --> 0:02:04.160 central bankers, where the central bankers are really taking over 0:02:04.160 --> 0:02:07.320 the world. Typically a revolution would be the people revolting 0:02:07.360 --> 0:02:09.240 against the government, but this is almost like a revolution 0:02:09.240 --> 0:02:13.960 from the top down. And Um, I've been looking at 0:02:14.000 --> 0:02:16.760 this chart which I've been kind of building my worldview 0:02:16.760 --> 0:02:18.720 off of, and I think you we talked about this, 0:02:19.080 --> 0:02:22.760 and it's this global public private partnership, and it's like 0:02:22.760 --> 0:02:25.760 the ORG chart, and it has the B I S 0:02:25.840 --> 0:02:27.760 at the very top of that, which is, of course, 0:02:27.840 --> 0:02:31.400 is the Bank for International Settlements. Then below that is 0:02:31.440 --> 0:02:34.360 the central banks and those are like the policymakers, and 0:02:34.400 --> 0:02:37.360 below that is then like World Economic Forum policymakers, and 0:02:37.360 --> 0:02:40.280 then below that distributors, the I, M, f U, N 0:02:40.560 --> 0:02:42.840 W h O, and then below that, so here we 0:02:42.880 --> 0:02:47.200 are like four levels. Down is the actual governments, the enforcers, um. 0:02:47.240 --> 0:02:49.680 But at the top is this B I S. And 0:02:49.800 --> 0:02:52.720 most people have no idea, they don't even heard of 0:02:52.760 --> 0:02:54.880 the B I S. Um. I know you've been doing 0:02:54.919 --> 0:02:57.480 a lot of research into that, So what what the 0:02:57.480 --> 0:03:00.720 heck is this whole B I S thing? Um. I 0:03:00.760 --> 0:03:03.720 think you're spot on, because what we have here is 0:03:03.760 --> 0:03:07.920 these large non governmental organizations that kind of work in 0:03:07.960 --> 0:03:11.839 a stratosphere above governments. And a lot of people think 0:03:11.840 --> 0:03:15.960 that the financial industry or infrastructure kind of ends with 0:03:16.360 --> 0:03:18.800 the Treasury and the Federal Reserve. But we live in 0:03:18.800 --> 0:03:23.840 a very globalized economy, and there's these large, unelected non 0:03:23.840 --> 0:03:27.840 governmental organizations like the Bank of International Settlements that has 0:03:27.880 --> 0:03:30.720 a lot of influence on the policy that governments make. 0:03:31.160 --> 0:03:34.520 And so the Bank of International Settlements is the best 0:03:34.520 --> 0:03:36.880 way to think about it is it's like a bank 0:03:37.000 --> 0:03:40.720 for central banks. So think about the services that JP 0:03:40.880 --> 0:03:43.000 Morgan does or well as far Ago does for a 0:03:43.040 --> 0:03:46.640 regular everyday person and just bring that up. Where the 0:03:46.720 --> 0:03:49.360 central banks are the clients, and they go to the 0:03:49.400 --> 0:03:53.480 BIZ and they provide services such as short term liquidity 0:03:53.520 --> 0:03:58.400 and credit. They do foreign currency exchanges and large transactions 0:03:58.440 --> 0:04:02.240 of like gold swaps, and they charge fees and commissions 0:04:02.280 --> 0:04:04.520 to the central banks to use their services. So they're 0:04:04.560 --> 0:04:08.840 kind of like an international clearing house, uh for the 0:04:08.880 --> 0:04:11.120 central banks. And then they do a couple other things. 0:04:11.200 --> 0:04:14.120 They are kind of like a very elite event planner 0:04:14.200 --> 0:04:17.800 where they hold seminars and committees and conferences for central 0:04:17.839 --> 0:04:22.880 bankers in their headquarters in Switzerland. And they also, um 0:04:22.920 --> 0:04:25.200 they kind of have the best vantage point because they're 0:04:25.240 --> 0:04:28.560 above everything else where they collect they have the largest 0:04:28.600 --> 0:04:31.520 database of banking information in the world, and so they 0:04:31.520 --> 0:04:34.239 have a mainframe computer and they sweep all the data 0:04:34.640 --> 0:04:37.320 and they have a really good advantage point to to 0:04:37.440 --> 0:04:41.600 understand the flows of international finance. And so central banks 0:04:41.600 --> 0:04:44.880 and governments picked their brain as to what's going on 0:04:44.960 --> 0:04:47.280 in the plumbing of the financial system. So that's kind 0:04:47.320 --> 0:04:49.640 of the three things they do their bank for central banks, 0:04:49.720 --> 0:04:53.479 their event planner, and their you know, uh database Center 0:04:53.560 --> 0:04:56.480 for Financial Information m M. They got their hands and 0:04:56.480 --> 0:05:00.160 their tentacles and everything exactly exactly. Now, when I think 0:05:00.200 --> 0:05:02.320 about the Central Bank of the United States and the 0:05:02.320 --> 0:05:06.080 Federal Reserve, the Federal Reserve doesn't actually create money, right, 0:05:06.080 --> 0:05:08.359 they create reserves that go to the commercial banks, and 0:05:08.400 --> 0:05:11.400 the commercial banks, UM lend that money into existence when 0:05:11.400 --> 0:05:14.120 I'm buy a house, a car about something like that. Um. 0:05:14.160 --> 0:05:20.040 So the Federal Reserve gives reserves to the commercial banks. Um. 0:05:20.120 --> 0:05:21.600 What does the b I S do? Do they give 0:05:21.640 --> 0:05:25.000 reserves to this to the Federal Reserve. Well, they have 0:05:25.040 --> 0:05:27.479 a special drawing right, which is a kind of confusing. 0:05:27.560 --> 0:05:30.240 It's like a fiat money on top of fiat money 0:05:30.279 --> 0:05:34.200 that they can create and provide loans to distress nations 0:05:34.400 --> 0:05:38.880 and UM governments if they need to. And that's the SDR. 0:05:39.240 --> 0:05:41.920 That's the SDR. Yeah, and then the SDR is used 0:05:41.960 --> 0:05:45.600 as a unit of account for the Bank of International Settlements, 0:05:45.760 --> 0:05:49.000 and so a lot of times when these central banks 0:05:49.000 --> 0:05:53.000 are using uh, the bus accounts um there through the 0:05:53.160 --> 0:05:56.080 SDR and so it's it's kind of like this money 0:05:56.080 --> 0:05:58.919 on top of money, and it's it's pretty confusing. But 0:05:58.960 --> 0:06:01.400 they created it way back in the day. When we're 0:06:01.400 --> 0:06:04.480 talking about the trip and dilemma, people are familiar with 0:06:04.520 --> 0:06:07.200 that UM. But it was basically a way to take 0:06:07.200 --> 0:06:09.440 pressure and fill us in on go ahead and give 0:06:09.520 --> 0:06:12.160 us the high level of you on the trip and dilemma. Yeah, 0:06:12.200 --> 0:06:15.240 the trip and dilemma really stems from the old Breton 0:06:15.240 --> 0:06:18.280 Wood system when the US was the reserve currency of 0:06:18.320 --> 0:06:20.440 the world, and it was kind of when when they 0:06:20.480 --> 0:06:24.039 when they when they were yeah, sorry, different when it 0:06:24.080 --> 0:06:26.880 was a different system, right when when it was pegged 0:06:26.880 --> 0:06:30.080 to goal at five dollars now it's and then all 0:06:30.080 --> 0:06:33.680 the currencies were pegged to the dollar um because of that, 0:06:33.760 --> 0:06:36.640 because it was the reserve currency. If the US read 0:06:37.160 --> 0:06:40.159 ran large deficits, it was kind of a problem because 0:06:40.600 --> 0:06:43.640 if they ran large deficits, then the other nations would 0:06:43.720 --> 0:06:47.680 question if they had enough gold to back those dollars. Right, 0:06:47.800 --> 0:06:50.880 But if they reduced the deficits, then there was also 0:06:50.920 --> 0:06:53.440 a problem there because it would reduce the liquidity for 0:06:53.480 --> 0:06:56.680 the other nations. So basically it was always this problem 0:06:56.760 --> 0:07:00.520 of dilemma where they could never reduce their deficits. And 0:07:00.640 --> 0:07:03.760 so the CR was created to kind of try to 0:07:03.800 --> 0:07:07.960 take pressure off the dollar the reserve system by having 0:07:08.000 --> 0:07:12.000 a neutral bank provide reserves in this different currency than 0:07:12.040 --> 0:07:15.480 the dollar um. And now it's stuck around. So that 0:07:15.520 --> 0:07:17.600 was way back in the seventies and it's still still 0:07:17.640 --> 0:07:20.800 around today. Yeah. Now the I m F, I thought 0:07:20.800 --> 0:07:23.520 that I m F issues SDRs. Um, they get the 0:07:23.560 --> 0:07:25.600 SDRs from the b I S Like they somehow work 0:07:25.640 --> 0:07:28.880 together in that regard. Yeah, they exactly, They basically worked together. 0:07:29.040 --> 0:07:31.760 They both they both have the unit of account as 0:07:31.760 --> 0:07:39.000 THEIRS as the SDR. Okay, now, um, how much how 0:07:39.080 --> 0:07:41.880 much do we know about the origins of the B 0:07:42.040 --> 0:07:47.120 I S. We know a lot actually, Um, A quick 0:07:47.120 --> 0:07:51.160 overview on that, Yeah, yeah, quick overview is it really 0:07:51.200 --> 0:07:54.920 stems from the the Treaty of Versailles that ended World 0:07:54.920 --> 0:07:59.400 War One back and it was very unfair and Germany 0:07:59.560 --> 0:08:01.800 was basically they made to pay these really large war 0:08:01.880 --> 0:08:05.320 reparations that was basically impossible for them to pay because 0:08:05.720 --> 0:08:09.200 their productive capacity was destroyed. All the factories were destroyed, 0:08:09.680 --> 0:08:12.360 and um all their men died, their labor force were 0:08:12.360 --> 0:08:16.080 dead too, and so they couldn't grow economically after the 0:08:16.080 --> 0:08:19.000 war and pay these huge war reparations at the same time. 0:08:19.040 --> 0:08:21.119 So what did they do. They printed a ton of money, 0:08:21.480 --> 0:08:24.400 and then it was the hyper inflation of Weimar the 0:08:24.520 --> 0:08:28.760 Weimar Republic in the early nineteen twenties. Um, after they 0:08:28.800 --> 0:08:31.720 kind of stabilized in the mid nineteen twenties, a bunch 0:08:31.720 --> 0:08:34.800 of American investors started investing in Germany because it was 0:08:34.840 --> 0:08:37.080 the Roaring twenties over there, and they were just throwing 0:08:37.080 --> 0:08:39.320 money and everything, and they thought, well, Germany is gonna 0:08:39.320 --> 0:08:42.480 start rebuilding. This is a great investment opportunity. And then 0:08:43.120 --> 0:08:46.800 millions and millions of dollars flowed into Germany until nine 0:08:46.840 --> 0:08:49.360 when the stock market crashed and then all the money 0:08:49.440 --> 0:08:52.280 dried up, and then Germany was suddenly in a really 0:08:52.320 --> 0:08:54.440 bad position again where they were worried that they were 0:08:54.440 --> 0:08:57.440 going to have a second hyper inflationary event in ten years. 0:08:57.920 --> 0:09:01.679 And so from that it can engine came together and 0:09:01.720 --> 0:09:04.640 they said, Okay, we're gonna restructure these war reparations to 0:09:04.679 --> 0:09:07.800 make it more affordable for Germany to try to pay them. 0:09:07.880 --> 0:09:10.520 And we're going to create this neutral bank, this bank 0:09:10.600 --> 0:09:13.800 that's going to facilitate the war reparations and help move 0:09:13.960 --> 0:09:18.520 large funds across borders. UM kind of this large fund 0:09:18.760 --> 0:09:22.800 international clearing house that was created under international treaty in 0:09:22.880 --> 0:09:25.559 nineteen thirty and that was when the Bank of International 0:09:25.559 --> 0:09:28.240 Settlements was created, and it's still at the center of 0:09:28.240 --> 0:09:31.640 the financial system all these years later. There's so much 0:09:31.679 --> 0:09:33.680 there I want to dig into. I can't wait to 0:09:33.720 --> 0:09:36.400 ask some questions about that. I'll be right back with 0:09:36.440 --> 0:09:38.840 more about the b I S don't go away, all right, 0:09:38.840 --> 0:09:40.960 Welcome back here listening to the Markma Show. We're talking 0:09:41.000 --> 0:09:44.920 about the decentralized revolution that is changing the world as 0:09:44.920 --> 0:09:46.600 we know it now. One of the things that we 0:09:46.640 --> 0:09:49.240 need to know to understand the change of the world 0:09:49.320 --> 0:09:51.240 is to understand how the world is organized in the 0:09:51.240 --> 0:09:54.120 first place. I'm in the studio right now with Sam Callahan. 0:09:54.520 --> 0:09:56.760 You can find them on Twitter at Sam calls e 0:09:56.880 --> 0:09:59.719 A L hell eight H. He's a bitcoin analyst with 0:10:00.040 --> 0:10:02.880 Juan Bitcoin, which is a good place if you want 0:10:02.880 --> 0:10:05.319 to buy some bitcoin a place that I've used as well. 0:10:06.120 --> 0:10:08.040 And Sam was explained to us about the b I 0:10:08.160 --> 0:10:11.000 S the Bank of International Settlements, which is the central 0:10:11.040 --> 0:10:13.120 bank above central banks, and he was talking about the 0:10:13.480 --> 0:10:16.520 way they got their start. Now, Sam, you were saying that, UM, 0:10:17.120 --> 0:10:21.200 nineteen Treaty of Versailles, Germany had to pay these war reparations. Um, 0:10:21.320 --> 0:10:24.560 they printed all this money, they had sky high inflation, um, 0:10:24.640 --> 0:10:26.800 and then UM, the Bank of the National Settlements was 0:10:26.840 --> 0:10:32.040 like founded to kind of help deal with that situation. Um. 0:10:32.280 --> 0:10:34.800 Was it just like the richest people in Europe at 0:10:34.800 --> 0:10:37.880 the time came together to start the bank. Yeah. So 0:10:37.960 --> 0:10:41.840 it was, um, the same people. If you're familiar with, UM, 0:10:41.960 --> 0:10:44.880 the story of central banks, there's actually so there's the 0:10:44.960 --> 0:10:47.200 guy from the Bank of England and yeah, the Bank 0:10:47.240 --> 0:10:50.200 of England and the Reich, the Reich Bank. Um, it 0:10:50.280 --> 0:10:53.760 was the same characters who started kind of all of 0:10:53.800 --> 0:10:57.200 the central banking. Um, that started the BIZ. And And 0:10:57.240 --> 0:11:00.240 the reason why is they always wanted a bank bank 0:11:00.440 --> 0:11:04.280 that worked above governments because they felt that politicians were 0:11:04.400 --> 0:11:07.320 hinderance to them and they were pesky and they just 0:11:07.360 --> 0:11:10.160 wanted to deal with their international finance. And now they 0:11:10.280 --> 0:11:13.920 created a bank under the under the disguise of just 0:11:14.000 --> 0:11:17.000 helping these war reparations. They created a bank UM that 0:11:17.040 --> 0:11:21.200 had complete legal privileges and nobody could touch them. And 0:11:21.240 --> 0:11:24.080 now they had their international bank. So that's kind of 0:11:24.080 --> 0:11:29.040 why it was created. Was created by central bankers. Now, UM. 0:11:29.080 --> 0:11:32.360 I think it was Murray Rothbart wrote The Mystery of 0:11:32.679 --> 0:11:34.959 Central Banks, and he talked about how the first central 0:11:34.960 --> 0:11:37.960 bank was the Bank of England and the late sixt hundreds, 0:11:38.000 --> 0:11:41.320 and they basically went, I think England was fighting France 0:11:41.320 --> 0:11:43.080 and they wanted money from these rich people. And rich 0:11:43.160 --> 0:11:44.680 people said, hey, if you let us start our own bank, 0:11:45.080 --> 0:11:47.200 we'll give you as much money as you want. But 0:11:47.360 --> 0:11:48.600 we have to start our own bank. And we had 0:11:48.640 --> 0:11:50.160 we're going to create our own currency, and you say 0:11:50.200 --> 0:11:51.520 that our currency is legal, and we'll give you as 0:11:51.559 --> 0:11:53.560 much as we want. And so they were basically creating 0:11:53.600 --> 0:11:55.760 money out of thin air, UM, and I guess the 0:11:55.800 --> 0:11:57.640 central banks have been doing it ever since. And so 0:11:57.760 --> 0:11:59.880 if we if we take that story forward, you're saying 0:11:59.880 --> 0:12:03.480 it's some of these same people that came forward, UM, 0:12:03.559 --> 0:12:06.360 and it's they operate above governments to the point of 0:12:06.360 --> 0:12:08.160 this like org chart that we kind of both kind 0:12:08.160 --> 0:12:11.679 of agreed on. UM, and you're saying that they can 0:12:11.679 --> 0:12:13.520 still kind of create thrown money out of thin air 0:12:13.880 --> 0:12:16.880 by issuing these SDRs, which are based off of a 0:12:16.880 --> 0:12:21.480 basket of other currencies. Yeah, that's right. So yes, Uh, 0:12:21.679 --> 0:12:25.280 special drawing right as they're known. Um, they used to 0:12:25.320 --> 0:12:27.320 be when they started, they were kind of pegged to 0:12:27.800 --> 0:12:30.719 one dollar based on the gold but once Nixon took 0:12:30.760 --> 0:12:33.760 us off the gold standard. Um, they basically change every 0:12:33.800 --> 0:12:36.719 five years in terms of what currencies are in there, 0:12:36.760 --> 0:12:40.600 and it's just a basket of currencies now. UM. On 0:12:40.640 --> 0:12:44.120 an earlier segment, I played a clip actually of the 0:12:44.120 --> 0:12:46.439 head of the b i S, which is Augustin Carston's 0:12:46.480 --> 0:12:49.160 and he was talking about you've probably seen it before. Um. 0:12:49.200 --> 0:12:52.200 He was talking about how cash we don't know who's 0:12:52.240 --> 0:12:55.839 exchanging a hundred dollar bill, but with CBDCs, we can 0:12:55.840 --> 0:12:57.760 know exactly who's doing it and we can have complete 0:12:57.800 --> 0:13:02.120 control over it. UM. Tell us about some of their 0:13:02.120 --> 0:13:04.840 big plans they have for us maybe with the CBDCs 0:13:04.880 --> 0:13:07.720 and control in the financial system more. Yeah. So, I 0:13:07.720 --> 0:13:11.000 mean this is why it's just important to understand what 0:13:11.040 --> 0:13:13.839 the business function is today, and it's really kind of 0:13:13.880 --> 0:13:17.360 creating the policy ideas in this they have an innovation 0:13:17.440 --> 0:13:20.040 hub and they have these events where central bankers can 0:13:20.080 --> 0:13:23.079 get together and discuss, you know, what to do in 0:13:23.120 --> 0:13:26.320 the future about the financial system. And over the last 0:13:26.320 --> 0:13:31.480 sense about eighteen they've written um a dozen working papers 0:13:31.520 --> 0:13:34.240 on central bank digital currencies. That this is the thing 0:13:34.320 --> 0:13:37.960 they're focused on, and they're really excited about it. And essentially, 0:13:37.960 --> 0:13:40.439 if if you have a central bank digital currency, that 0:13:40.520 --> 0:13:44.960 would give them the power UM to basically directly target 0:13:45.320 --> 0:13:50.080 their monetary policy based on information of an individual. UM. 0:13:50.160 --> 0:13:52.760 It would allow them to do things like negative interest 0:13:52.840 --> 0:13:56.560 rates UM, and it would give them complete control over 0:13:56.600 --> 0:13:59.319 who has access to the financial system and as well 0:13:59.360 --> 0:14:04.319 as a complete surveillance of all the flows of international finance. 0:14:04.800 --> 0:14:07.480 And so they're they're they're loving this. They're just looking 0:14:07.520 --> 0:14:10.360 their chops and and just in their loving the power 0:14:10.400 --> 0:14:12.600 that could they could get from this. But you know, 0:14:12.679 --> 0:14:14.600 to give them a little bit of credit, you know, 0:14:14.679 --> 0:14:17.480 I think they have some good intentions. It's like, you know, 0:14:17.600 --> 0:14:19.560 the road to hell is paid with good intentions. And 0:14:19.600 --> 0:14:23.000 they're thinking about all the benefits that CBDCs could bring, like, oh, 0:14:23.080 --> 0:14:26.040 we could be more efficient, UM, we could finally give 0:14:26.080 --> 0:14:29.000 some cheap cross border payments to people, because even though 0:14:29.040 --> 0:14:31.840 we've had all this technological progress over the last decade 0:14:31.920 --> 0:14:35.160 or two, you know, sending money is still really expensive 0:14:35.160 --> 0:14:36.960 for people, and they've been trying to figure out how 0:14:36.960 --> 0:14:39.000 to do this, and so they're looking at the CBDC 0:14:39.040 --> 0:14:41.920 and just seeing all these positives, but they're not focused 0:14:41.920 --> 0:14:46.280 on all these like infringements of privacy and uh, the 0:14:46.320 --> 0:14:50.080 ability for them to basically weaponize this against people. They're 0:14:50.120 --> 0:14:54.280 not really considering the downfalls of a CBDC, or maybe 0:14:54.280 --> 0:14:58.120 they are, or maybe they are. They just think that 0:14:58.200 --> 0:15:01.320 the benefits that way the ca us Yeah, there's a 0:15:01.480 --> 0:15:04.360 there's a quote from Henry Kissinger from seventy four. He said, 0:15:04.360 --> 0:15:10.600 who controls the food supply controls the people. Um, who 0:15:10.640 --> 0:15:13.760 controls the energy can control whole continent. So of course 0:15:13.840 --> 0:15:16.040 we see this E S G kind of narrative going 0:15:16.080 --> 0:15:18.480 over the whole world. So we control the energy through 0:15:18.560 --> 0:15:20.960 s G, and then the last piece, who controls money, 0:15:21.000 --> 0:15:23.440 can control the whole world. So I guess that's kind 0:15:23.440 --> 0:15:26.040 of kind of what he was talking about when they 0:15:26.080 --> 0:15:31.000 said that. Um, but um, back to this, Uh, let's 0:15:31.000 --> 0:15:33.480 talk about that cross border piece. So um, that's one 0:15:33.480 --> 0:15:35.560 of the things they want to create, this more fair, 0:15:35.800 --> 0:15:39.760 equitable system for everybody. Um. And I was actually talking 0:15:39.800 --> 0:15:42.520 to an analyst, Jason burak Um. He's not a big 0:15:42.560 --> 0:15:47.200 crypto guy, and he said that, he said that it's 0:15:47.200 --> 0:15:49.280 gonna you know, the government doesn't doesn't have a way 0:15:49.320 --> 0:15:52.240 to facilitate chillions of dollars of cross border payments. I said, 0:15:52.280 --> 0:15:55.680 any cryptocurrency can do that today. I mean bitcoin obviously, 0:15:55.680 --> 0:15:58.840 but any crypto really could. It's the policies that are 0:15:58.840 --> 0:16:01.160 in place that present the problems trying to go inside 0:16:01.160 --> 0:16:04.440 of different countries and banks. Um. So do you think 0:16:04.640 --> 0:16:06.560 I don't know if you've seen anything specifically about cross 0:16:06.600 --> 0:16:08.360 border payments from the bi s, Like, would they just 0:16:08.520 --> 0:16:10.560 usurp all the nation's laws and that's how they make 0:16:10.600 --> 0:16:14.120 it easy? Yeah, I mean that's actually what they said. 0:16:14.160 --> 0:16:17.000 They actually talked about having a what they call them 0:16:17.080 --> 0:16:19.680 multi C B d C, which would be it would 0:16:19.720 --> 0:16:23.200 be one giant digital I D system that everyone would 0:16:23.240 --> 0:16:26.920 go into, so definitely an infringement of privacy there. Um. 0:16:27.000 --> 0:16:28.680 And then everyone would be on this digital I D 0:16:28.840 --> 0:16:31.680 system in the single C B d C for the 0:16:31.840 --> 0:16:34.440 entire world. And so they're thinking, oh, this is gonna 0:16:34.440 --> 0:16:37.200 be so efficient, right, it's on one system. But then 0:16:37.240 --> 0:16:39.800 they say something very vague like there will be a 0:16:39.880 --> 0:16:43.440 single rule book quote unquote, but they don't say how 0:16:43.480 --> 0:16:45.440 that rule book would be made, who will write it, 0:16:45.440 --> 0:16:48.840 who will enforce it. Um. It would probably be a 0:16:48.840 --> 0:16:52.880 group of unelected central bankers doing this stuff behind closed 0:16:52.880 --> 0:16:57.000 door in there in Switzerland at their headquarters, um, because 0:16:57.000 --> 0:16:59.440 that's usually how these things go. But yeah, they're they 0:16:59.600 --> 0:17:01.760 there's a whole working paper on it. It's called a 0:17:01.840 --> 0:17:06.280 multi cbd C, a multi CBDC which means multiple countries 0:17:06.359 --> 0:17:10.359 all using the same one. Yeah. So the idea is 0:17:10.440 --> 0:17:14.400 they thought, because there's about essential banks are already uh 0:17:14.440 --> 0:17:17.040 you know, testing and experimenting with their own cbdc s. 0:17:17.160 --> 0:17:20.359 But what's the point if they're all siloed by themselves 0:17:20.359 --> 0:17:22.639 with their own systems. So they're I think when they 0:17:22.680 --> 0:17:26.520 say multi CBDC, it's almost like they're planning on hooking 0:17:26.600 --> 0:17:29.520 up every CB CBDC of a country into this one 0:17:29.640 --> 0:17:33.480 giant umbrella system and they think that's a good idea. Yeah, 0:17:33.600 --> 0:17:37.560 that's interesting. Um. I've often thought about the way this 0:17:37.680 --> 0:17:40.520 kind of works its way out, going from the commercial 0:17:40.560 --> 0:17:43.680 banks to the nation's central banks to the I M F, 0:17:43.960 --> 0:17:46.119 B I S, etcetera. I want to talk about that, 0:17:46.359 --> 0:17:47.720 and then I want to talk about more about this 0:17:47.760 --> 0:17:50.320 global digital I D system because that's another big thing 0:17:50.440 --> 0:17:53.560 as well. Um. You listen to the Markma Show. I'm 0:17:53.560 --> 0:17:57.840 in the studio with Sam Callahan. We're talking about UM Bitcoin. 0:17:57.880 --> 0:18:00.280 We're talking about the decentralized revolution. We're talking to about 0:18:00.280 --> 0:18:02.560 the B I S, which you may know nothing about. 0:18:03.000 --> 0:18:05.080 It's the central bank about central banks, and you may 0:18:05.080 --> 0:18:06.639 not know about them, but they know about you or 0:18:06.680 --> 0:18:09.160 they want to know more about you. So we're gonna 0:18:09.160 --> 0:18:11.520 talk more about that, the types of control they may 0:18:11.560 --> 0:18:13.639 want to have and what they can do with it. UM, 0:18:13.720 --> 0:18:15.879 so much more to get into. Don't go away. I 0:18:15.960 --> 0:18:18.439 want to be right back. Everyone. Welcome back. You're listening 0:18:18.440 --> 0:18:20.679 to the Mark Ma Show and we're talking about the 0:18:20.720 --> 0:18:23.879 intersection of politics, finance, and technology. We're talking about the 0:18:23.960 --> 0:18:28.439 decentralized revolution, which of course is bitcoin changing the world 0:18:28.480 --> 0:18:30.680 as we speak. I'm in the studio with Sam Callahan. 0:18:30.920 --> 0:18:33.720 He's a bitcoin analyst with Swan Bitcoin and you can 0:18:33.760 --> 0:18:36.240 find him on Twitter at Sam Callous c A L 0:18:36.400 --> 0:18:39.199 L A. H Um, Sam, do they not have the 0:18:39.240 --> 0:18:40.840 rest of the letters for your last name or like 0:18:40.920 --> 0:18:44.080 what happened there? Yeah, well dude, so apparently there's this 0:18:44.240 --> 0:18:50.760 like British pop star named Sam Callaghan's he was not 0:18:50.880 --> 0:18:54.119 like the American idol of the UK. So that's what 0:18:54.200 --> 0:18:56.359 I have to fight with. Got it? Got it? So 0:18:56.400 --> 0:18:58.560 instead of putting a space or something in there, you 0:18:58.640 --> 0:19:00.640 just dropped a couple of letters off the last They're 0:19:00.680 --> 0:19:06.320 all taken, dang it. Yeah. Um, on Twitter, somebody has 0:19:06.400 --> 0:19:08.680 Mark Moss but they've never like used it. They don't 0:19:08.680 --> 0:19:10.760 even post or anything, and I've like tried to reach 0:19:10.760 --> 0:19:12.159 out to them. Didn't work. So I just had to 0:19:12.160 --> 0:19:14.159 put a number one in front of it, which, by 0:19:14.200 --> 0:19:15.560 the way, if you're not following me on Twitter, it's 0:19:15.680 --> 0:19:18.879 number one Mark Moss you should. Um. But anyway, so 0:19:18.920 --> 0:19:20.600 back to we were talking about this this b I 0:19:20.880 --> 0:19:28.600 s um this bs uh uh. But they've also been 0:19:28.680 --> 0:19:33.199 advocating for this global digital identity system. Um, what what 0:19:33.240 --> 0:19:36.520 have they said about that? So they're in like the 0:19:36.560 --> 0:19:39.200 design phase right now. Right they're still figuring this out. 0:19:39.200 --> 0:19:42.280 It's still many years out before anything happens here. Basically 0:19:42.320 --> 0:19:45.000 they're trying to figure out, you know, how is this 0:19:45.040 --> 0:19:47.920 gonna work while trying to maintain privacy, and I think 0:19:47.960 --> 0:19:51.680 that's more just like word speak, because basically there's two 0:19:51.680 --> 0:19:53.520 ways they can do it. They can have an account 0:19:53.560 --> 0:19:57.320 based CBDC, where somebody has an account tied to their 0:19:57.480 --> 0:20:00.560 digital identity um so a digital I D system and 0:20:00.840 --> 0:20:03.359 they have a direct account with the Central Bank. The 0:20:03.400 --> 0:20:05.320 other way they could do it is they could keep 0:20:05.400 --> 0:20:08.760 users anonymous and have a token based CBDC, which would 0:20:08.840 --> 0:20:12.240 kind of mimic the private stable coins that we see today. 0:20:12.359 --> 0:20:15.440 So there's some kind of privacy maintained there. And they 0:20:15.520 --> 0:20:17.679 go back and forth about the pros and cons, and 0:20:17.720 --> 0:20:20.040 it always comes back to they say that they won't 0:20:20.040 --> 0:20:23.399 be able to stop elicit activity and money laundering, so 0:20:23.440 --> 0:20:26.399 of course we can't have privacy, and so they say, okay, 0:20:26.440 --> 0:20:29.080 well we have to do these digital ID system with 0:20:29.119 --> 0:20:32.920 the account based retail CBDC, which grinds my gears because 0:20:32.960 --> 0:20:35.159 if you know anything about a m l K y C, 0:20:35.800 --> 0:20:39.280 they can't stop elicit activity or money laundering at all. 0:20:39.320 --> 0:20:42.680 They failed at that for decades, and now they justify 0:20:42.880 --> 0:20:45.840 surveillance and overreach in the name of stopping a listit 0:20:45.880 --> 0:20:48.320