1 00:00:00,360 --> 00:00:03,040 Speaker 1: Hello, and welcome to another episode of The Mark Moss Show, 2 00:00:03,040 --> 00:00:06,160 Speaker 1: where we're talking about, of course, the decentralized revolution, talking 3 00:00:06,160 --> 00:00:08,639 Speaker 1: about the way the world is changing, and we look 4 00:00:08,680 --> 00:00:12,039 Speaker 1: at it through the lens of politics, finance, and technology, 5 00:00:12,080 --> 00:00:13,880 Speaker 1: because when we look at those three we see the 6 00:00:13,880 --> 00:00:17,320 Speaker 1: world in better context. The world is what we call 7 00:00:17,360 --> 00:00:21,400 Speaker 1: a complex system, and so complex systems, you can't just 8 00:00:21,480 --> 00:00:23,120 Speaker 1: look at one part. You have to look at them 9 00:00:23,200 --> 00:00:26,119 Speaker 1: in context to each other, the economy, the markets, the 10 00:00:26,160 --> 00:00:28,680 Speaker 1: human body, etc. And so we're looking at this through 11 00:00:28,920 --> 00:00:31,240 Speaker 1: through the lens of those three things. Of course, the 12 00:00:31,240 --> 00:00:34,520 Speaker 1: technology we look at is bitcoin. It's the decentralized technology 13 00:00:34,560 --> 00:00:38,040 Speaker 1: that is changing the world, not just money, but changing 14 00:00:38,080 --> 00:00:39,920 Speaker 1: the world of course, fix the money, fix the world, 15 00:00:39,960 --> 00:00:44,120 Speaker 1: as we like to say. And man, there's always so 16 00:00:44,200 --> 00:00:46,160 Speaker 1: much news. It makes my job being pretty easy because 17 00:00:46,159 --> 00:00:48,400 Speaker 1: there's always so much to talk about. And I want 18 00:00:48,440 --> 00:00:50,800 Speaker 1: to run through some of the biggest news stories that 19 00:00:50,840 --> 00:00:54,600 Speaker 1: happened this week, and so let's let's dig into those now. 20 00:00:54,680 --> 00:00:58,600 Speaker 1: Of course, we like to talk about bitcoin, the decentralized technology, 21 00:00:58,640 --> 00:01:02,320 Speaker 1: fixing the money, fixing the world, and so it's been 22 00:01:02,480 --> 00:01:05,119 Speaker 1: a there's there's been a lot of movement to talk 23 00:01:05,120 --> 00:01:08,440 Speaker 1: about in bitcoin Now, I often say that talking about 24 00:01:08,440 --> 00:01:12,080 Speaker 1: the price is one of the least interesting pieces about 25 00:01:12,120 --> 00:01:14,720 Speaker 1: bitcoin when you're looking at new technologies. If you're I 26 00:01:14,800 --> 00:01:16,880 Speaker 1: was a venture well not if I am a venture 27 00:01:16,920 --> 00:01:19,720 Speaker 1: capital investor, and I like to look at I like 28 00:01:19,760 --> 00:01:21,880 Speaker 1: to invest into these companies. And you know, my timetable 29 00:01:22,000 --> 00:01:23,720 Speaker 1: is typically seven to ten years. You're in a lock 30 00:01:23,800 --> 00:01:25,959 Speaker 1: up period. We have to wait till there's liquidity event, 31 00:01:26,000 --> 00:01:28,440 Speaker 1: the go public, something like that. And so because there's 32 00:01:28,440 --> 00:01:32,240 Speaker 1: no price on the company itself, they're not being marked 33 00:01:32,280 --> 00:01:35,800 Speaker 1: to market. How do I know if the company is 34 00:01:35,840 --> 00:01:38,880 Speaker 1: doing good? Well, I look, are they growing their user base, 35 00:01:39,560 --> 00:01:41,800 Speaker 1: are they developing on it, etc. And so I like 36 00:01:41,800 --> 00:01:44,600 Speaker 1: to look at bitcoin from that lens. But we saw 37 00:01:44,720 --> 00:01:47,240 Speaker 1: this week that the price was moving a little bit, 38 00:01:47,440 --> 00:01:50,520 Speaker 1: and it's interesting because it's moving based off of the 39 00:01:50,640 --> 00:01:53,720 Speaker 1: US government's holdings of bitcoin. Now, a lot of you 40 00:01:53,760 --> 00:01:56,120 Speaker 1: maybe don't know this, but the United States government is 41 00:01:56,120 --> 00:01:57,840 Speaker 1: sitting on a lot of bitcoin. As a matter of fact, 42 00:01:59,160 --> 00:02:00,800 Speaker 1: most of the government of the world are sitting on 43 00:02:00,880 --> 00:02:06,520 Speaker 1: lots of bitcoin. Of some of the governments, including China 44 00:02:06,600 --> 00:02:11,840 Speaker 1: and another one, are sitting on almost two hundred thousand bitcoin, 45 00:02:12,040 --> 00:02:15,000 Speaker 1: not a small amount, a big amount. It's a matter 46 00:02:15,000 --> 00:02:18,320 Speaker 1: of fact. The US government sits on lots of bitcoin 47 00:02:18,360 --> 00:02:21,440 Speaker 1: that they have taken from different people at different times 48 00:02:21,440 --> 00:02:23,320 Speaker 1: in seizures and things like that. Now, I do want 49 00:02:23,320 --> 00:02:28,880 Speaker 1: to just say that bitcoin cannot be seized, all right, 50 00:02:29,320 --> 00:02:32,680 Speaker 1: Bitcoin cannot be seized. It is what's called censorship resistant. 51 00:02:32,720 --> 00:02:35,320 Speaker 1: If I have it, nobody can take it from me 52 00:02:35,560 --> 00:02:40,760 Speaker 1: unless they get my key, unless they get my private key. 53 00:02:40,880 --> 00:02:43,720 Speaker 1: So whenever you hear about the government took someone's bitcoin, 54 00:02:43,720 --> 00:02:45,639 Speaker 1: it's because they got their private key. Now, how do 55 00:02:45,680 --> 00:02:47,480 Speaker 1: they get their private key? Well, there's any number of 56 00:02:47,480 --> 00:02:50,519 Speaker 1: ways I could give it to the government in exchange 57 00:02:50,520 --> 00:02:53,680 Speaker 1: for you a lighter sentence or something like that. In 58 00:02:53,720 --> 00:02:56,679 Speaker 1: some cases, they've raided people's houses and their computer was 59 00:02:56,720 --> 00:02:58,760 Speaker 1: open and it was just sitting there on their computer. 60 00:03:00,200 --> 00:03:02,480 Speaker 1: If you if you were if you had gold, you know, 61 00:03:02,520 --> 00:03:05,360 Speaker 1: imagine you had gold and you went in the old days, right, 62 00:03:05,400 --> 00:03:07,000 Speaker 1: and you went and buried it out in the dirt somewhere, 63 00:03:07,200 --> 00:03:09,760 Speaker 1: and you made a map, a map to where you 64 00:03:09,880 --> 00:03:12,960 Speaker 1: bury that gold. Well, if someone found your map, they 65 00:03:12,960 --> 00:03:14,800 Speaker 1: would go find your gold. So the goal would be 66 00:03:14,840 --> 00:03:16,680 Speaker 1: to hide your map and not give the map up. 67 00:03:16,720 --> 00:03:18,840 Speaker 1: If someone knew you had gold, they maybe come grab 68 00:03:18,880 --> 00:03:21,120 Speaker 1: you and torture you until you gave up your map. Right, 69 00:03:21,120 --> 00:03:22,839 Speaker 1: But if they don't have the map, they can't get 70 00:03:22,840 --> 00:03:24,440 Speaker 1: the gold. And the same is true with bitcoin. If 71 00:03:24,480 --> 00:03:26,560 Speaker 1: they don't have your key, they can't get the bitcoin. 72 00:03:26,639 --> 00:03:30,360 Speaker 1: So the government has taken bitcoin, yes, but only because 73 00:03:30,360 --> 00:03:34,040 Speaker 1: they've gotten the key. So the key, the key, the 74 00:03:34,120 --> 00:03:35,920 Speaker 1: key is hide your key, right, the key is high 75 00:03:35,920 --> 00:03:38,880 Speaker 1: to key one. Never put your private key into a computer. 76 00:03:39,200 --> 00:03:42,800 Speaker 1: Don't do that. Hackers could get it. Don't put it 77 00:03:42,800 --> 00:03:45,160 Speaker 1: on the internet, don't put it into Google docs, don't 78 00:03:45,200 --> 00:03:47,560 Speaker 1: put it into Evernote, don't put in the computer. Don't 79 00:03:47,600 --> 00:03:49,360 Speaker 1: put an Evernote. Unfortunately, you got to do the old 80 00:03:49,360 --> 00:03:51,800 Speaker 1: fashioned way. Put it on a piece of paper and 81 00:03:51,840 --> 00:03:54,080 Speaker 1: then hide that piece of paper. Now you can put 82 00:03:54,120 --> 00:03:56,560 Speaker 1: it into multiple safety deposit boxes. You know. You could 83 00:03:56,560 --> 00:03:58,600 Speaker 1: tear it into pieces and put in safe too bock boxes. 84 00:03:58,720 --> 00:04:00,680 Speaker 1: You could hide it in a book on your shelf. 85 00:04:00,800 --> 00:04:02,839 Speaker 1: You could turn it into pictures and put them under 86 00:04:02,880 --> 00:04:04,880 Speaker 1: your walls. There's any number of ways to do that. 87 00:04:05,000 --> 00:04:07,480 Speaker 1: You can use a multi signature wallet setup where you 88 00:04:07,560 --> 00:04:11,480 Speaker 1: have like three different keys and the person trying to 89 00:04:11,480 --> 00:04:12,880 Speaker 1: get it from you would have to get all three keys, 90 00:04:12,920 --> 00:04:15,920 Speaker 1: which could be impossible if you hide them properly. So anyway, 91 00:04:15,920 --> 00:04:19,480 Speaker 1: but the US government has this bitcoin, and it looks 92 00:04:19,520 --> 00:04:22,599 Speaker 1: like the US government might be preparing to potentially sell 93 00:04:22,720 --> 00:04:25,359 Speaker 1: the bitcoin, which I would say it's probably a big mistake. 94 00:04:25,400 --> 00:04:27,120 Speaker 1: I think the US government should hang on to the 95 00:04:27,120 --> 00:04:30,200 Speaker 1: bitcoin they have. I'm a hoddler. I think the government 96 00:04:30,200 --> 00:04:32,960 Speaker 1: should be a hoddler as well. But the government has 97 00:04:33,120 --> 00:04:38,360 Speaker 1: one billion dollars worth of bitcoin and they transferred it 98 00:04:38,400 --> 00:04:41,360 Speaker 1: and it's caused the price of bitcoin to dip. US 99 00:04:41,400 --> 00:04:44,760 Speaker 1: authorities transferred one billion dollars worth of bitcoin recovered from 100 00:04:44,760 --> 00:04:48,160 Speaker 1: a dark web hack to a new wallet address, including 101 00:04:48,240 --> 00:04:52,160 Speaker 1: one owned by coin base. Now, like I said that, 102 00:04:52,240 --> 00:04:53,960 Speaker 1: some people are thinking of the government, it might sell that, 103 00:04:54,480 --> 00:04:57,400 Speaker 1: and it's why they're afraid the price it might dip down. 104 00:04:57,800 --> 00:05:01,880 Speaker 1: Nearly ten thousand bitcoins were sent to coin based controlled wallets, 105 00:05:02,320 --> 00:05:06,200 Speaker 1: while roughly forty one thou bitcoins were directed to government 106 00:05:06,240 --> 00:05:11,880 Speaker 1: controlled wallets. Now, we don't know what's going to happen. 107 00:05:12,000 --> 00:05:14,400 Speaker 1: They haven't told us, so all we're left is to speculate. 108 00:05:15,040 --> 00:05:17,960 Speaker 1: In a previous segment, earlier, I was talking about truth, 109 00:05:18,000 --> 00:05:20,080 Speaker 1: and you know, truth and transparency. So when they don't 110 00:05:20,080 --> 00:05:22,000 Speaker 1: tell us the truth, they're not transparent. We're left to 111 00:05:22,040 --> 00:05:24,480 Speaker 1: speculate here, So we don't know. But we do know 112 00:05:24,640 --> 00:05:28,679 Speaker 1: is that historically the government hasn't really just dumped tokens 113 00:05:28,720 --> 00:05:31,720 Speaker 1: on the public market like that. Typically what they do 114 00:05:31,760 --> 00:05:34,280 Speaker 1: after they've seized digital assets is they sell them out 115 00:05:34,279 --> 00:05:37,120 Speaker 1: of auction. In two and fourteen, and then also in 116 00:05:37,160 --> 00:05:39,839 Speaker 1: two thousand and fifteen, the government auctioned off bitcoin that 117 00:05:39,960 --> 00:05:43,239 Speaker 1: was seized from the owner of a virtual black market 118 00:05:43,279 --> 00:05:46,760 Speaker 1: platform called silk Road, And as a matter of fact, 119 00:05:47,360 --> 00:05:53,120 Speaker 1: the founder of silk Road, Ross olbrich Is, has been 120 00:05:53,160 --> 00:05:58,000 Speaker 1: in prison ever since and he's facing multiple life sentences. 121 00:05:58,480 --> 00:06:01,680 Speaker 1: So he founded a place where people could buy drugs 122 00:06:01,720 --> 00:06:08,039 Speaker 1: online with bitcoin, and he's facing multiple life sentences. Meanwhile, 123 00:06:08,080 --> 00:06:12,359 Speaker 1: we have murderers and rapists getting out in fractions of 124 00:06:12,400 --> 00:06:16,520 Speaker 1: that time, getting out released to the public. Yet he's 125 00:06:16,560 --> 00:06:19,120 Speaker 1: facing multiple life sentences. You can tell a lot about 126 00:06:19,160 --> 00:06:24,840 Speaker 1: the government by the crimes they choose to enforce. Do 127 00:06:24,920 --> 00:06:28,280 Speaker 1: they enforce crimes against their citizens who they're supposed to 128 00:06:28,320 --> 00:06:30,919 Speaker 1: be in protect harsher or do they protect or do 129 00:06:30,960 --> 00:06:34,760 Speaker 1: they are they more harsh on crimes against the government themselves. 130 00:06:35,760 --> 00:06:37,640 Speaker 1: That tells you kind of everything you need to know. Anyway, 131 00:06:38,040 --> 00:06:39,400 Speaker 1: what we can see is that the movement of soak 132 00:06:39,480 --> 00:06:42,400 Speaker 1: road bitcoin to coin base is almost definitely being done 133 00:06:42,440 --> 00:06:46,560 Speaker 1: with some intention to sell these tokens. At least that's 134 00:06:46,680 --> 00:06:50,359 Speaker 1: what people think. Now. The speculation part is can the 135 00:06:50,400 --> 00:06:53,320 Speaker 1: market absorb that if they were to dump those onto 136 00:06:53,360 --> 00:06:55,760 Speaker 1: the market? Now, most most investors that had that type 137 00:06:55,760 --> 00:06:57,960 Speaker 1: of type of money, or I should say not investors, 138 00:06:57,960 --> 00:06:59,880 Speaker 1: but how there's people that had that much bitcoin would 139 00:06:59,880 --> 00:07:02,039 Speaker 1: never dump all that bitcoin on the market because they 140 00:07:02,120 --> 00:07:06,000 Speaker 1: know would crush the market. We'll see him another Another 141 00:07:06,000 --> 00:07:07,760 Speaker 1: fun piece on bitcoin I saw this week isn't so 142 00:07:07,839 --> 00:07:10,680 Speaker 1: much about bitcoin itself, but more about why why would 143 00:07:10,680 --> 00:07:16,280 Speaker 1: we need bitcoin? I think Nobel Prize winning economist Paul Krugman, 144 00:07:16,840 --> 00:07:19,000 Speaker 1: who I don't know why anybody listens to him. He's 145 00:07:19,040 --> 00:07:21,240 Speaker 1: been wrong over and over and over. He famously said 146 00:07:21,280 --> 00:07:23,880 Speaker 1: that the Internet would have no greater impact on society 147 00:07:23,920 --> 00:07:28,400 Speaker 1: than the fax machine. So he's been wrong, obviously, but 148 00:07:28,800 --> 00:07:32,120 Speaker 1: it was funny this week he tweeted out he said, 149 00:07:32,160 --> 00:07:34,440 Speaker 1: I've been using Venmo for years, but now won't allow 150 00:07:34,480 --> 00:07:36,720 Speaker 1: me to make payments. I spent a long time in 151 00:07:36,800 --> 00:07:38,560 Speaker 1: chat with representatives and they told me that they can't 152 00:07:38,600 --> 00:07:41,600 Speaker 1: explain why or fix it. The software has taken control. 153 00:07:41,680 --> 00:07:48,000 Speaker 1: So he vented onto Twitter publicly that he's not able 154 00:07:48,000 --> 00:07:51,000 Speaker 1: to access or send his own money, that he is 155 00:07:51,080 --> 00:07:57,520 Speaker 1: being censored by Venmo, being rugged, and maybe he's starting 156 00:07:57,560 --> 00:08:01,200 Speaker 1: to learn the value of bitcoin. You see, Bitcoin is permissionless. 157 00:08:01,200 --> 00:08:04,080 Speaker 1: Anybody can download a wallet, send him receive money. There's 158 00:08:04,120 --> 00:08:07,680 Speaker 1: no Venmo or PayPal that can censor you or stop it, 159 00:08:07,760 --> 00:08:09,320 Speaker 1: or block it or prevent it or lock you out 160 00:08:10,680 --> 00:08:14,680 Speaker 1: now here. He is publicly stating his dissatisfaction that he 161 00:08:14,760 --> 00:08:18,040 Speaker 1: can send his own money, he can't access his own money. 162 00:08:19,200 --> 00:08:22,840 Speaker 1: Of course, Venmo is a centralized payments tool, maybe potentially 163 00:08:22,840 --> 00:08:24,480 Speaker 1: one of the worst out there from a public from 164 00:08:24,480 --> 00:08:27,920 Speaker 1: a privacy standpoint, But I just thought it was funny 165 00:08:28,000 --> 00:08:33,640 Speaker 1: that all of a sudden, he's realizing that maybe there's 166 00:08:33,640 --> 00:08:40,920 Speaker 1: a need for having something that's permissionless and censorship resistants 167 00:08:40,960 --> 00:08:44,760 Speaker 1: of lots of funny tweets and replied him someone asking 168 00:08:44,800 --> 00:08:47,040 Speaker 1: were you trying to buy drugs or an assassination? Like, 169 00:08:47,320 --> 00:08:51,640 Speaker 1: what were you trying to do here? So Paul Krugman 170 00:08:51,760 --> 00:08:54,360 Speaker 1: is wrong, but maybe he is starting to wake up 171 00:08:55,040 --> 00:08:57,960 Speaker 1: to the problem at hand. It'd be funny to keep 172 00:08:58,000 --> 00:08:59,959 Speaker 1: an eye on this. If you're just tuning in your 173 00:09:00,000 --> 00:09:01,960 Speaker 1: listening to the Mark Moss Show, we talk about the 174 00:09:02,000 --> 00:09:05,960 Speaker 1: decentralized revolution through the lens of politics, finance, and technology. 175 00:09:06,080 --> 00:09:08,480 Speaker 1: We're running through some of the yeah, maybe some of 176 00:09:08,520 --> 00:09:11,840 Speaker 1: the biggest news headlines that happened this week. To give 177 00:09:11,880 --> 00:09:13,800 Speaker 1: you an idea, I'd like to call him signposts, so 178 00:09:13,800 --> 00:09:17,040 Speaker 1: you can see the world changing and transforming right before 179 00:09:17,160 --> 00:09:19,480 Speaker 1: our eyes. A lot of people want to win. Will 180 00:09:19,520 --> 00:09:22,560 Speaker 1: this happen? Mark Win? And I'm like, it's happening right now, 181 00:09:23,200 --> 00:09:25,320 Speaker 1: can't you see it? And so we're walking through that. 182 00:09:25,520 --> 00:09:26,959 Speaker 1: I have a lot more to cover. We're gonna cover 183 00:09:27,040 --> 00:09:30,920 Speaker 1: the economy, some things that the Funnel Reserve said, anti 184 00:09:30,920 --> 00:09:33,560 Speaker 1: woke stuff, and more. Don't go away, I'll be right back, 185 00:09:35,480 --> 00:09:37,280 Speaker 1: all right, Welcome back. If you're just tuning in, you're 186 00:09:37,280 --> 00:09:39,640 Speaker 1: listening to the Mark Moss Show, we talk about the 187 00:09:39,760 --> 00:09:42,960 Speaker 1: decentralized revolution, and we are running through some of the 188 00:09:43,040 --> 00:09:45,720 Speaker 1: latest breaking news headlines this week, so we can see 189 00:09:45,840 --> 00:09:48,840 Speaker 1: exactly how far along and how fast we are moving 190 00:09:48,920 --> 00:09:51,839 Speaker 1: through this decentralized revolution. We're look at through the lens 191 00:09:51,880 --> 00:09:56,640 Speaker 1: of politics, finance, and technology, and talking about finance, man, 192 00:09:56,760 --> 00:10:00,360 Speaker 1: we are going to do some uncharted territory. We have 193 00:10:00,400 --> 00:10:02,240 Speaker 1: to spend a couple minutes here because there is a 194 00:10:02,320 --> 00:10:04,680 Speaker 1: lot going on. It's something I've been talking about over 195 00:10:04,760 --> 00:10:07,319 Speaker 1: and over and over. Of course, the big topic for 196 00:10:08,240 --> 00:10:11,680 Speaker 1: the last like two years has been inflation. Inflation, inflation, 197 00:10:12,520 --> 00:10:17,200 Speaker 1: which basically means prices are going up and the cost 198 00:10:17,240 --> 00:10:20,400 Speaker 1: of living is going up. And that's a big problem 199 00:10:20,400 --> 00:10:22,120 Speaker 1: for the FED because the FED wants there to be 200 00:10:22,160 --> 00:10:24,440 Speaker 1: a two percent inflation. Now, the funny thing is is 201 00:10:24,480 --> 00:10:27,440 Speaker 1: that if two percents good like, wouldn't a little bit 202 00:10:27,480 --> 00:10:30,679 Speaker 1: more be better? Well, it's certainly be better for them, 203 00:10:30,679 --> 00:10:32,840 Speaker 1: it would inflate away their debt faster. But the problem 204 00:10:32,960 --> 00:10:36,040 Speaker 1: is that it makes life harder on me and you 205 00:10:37,120 --> 00:10:39,720 Speaker 1: and you know, my gas is higher, my food is higher, 206 00:10:39,720 --> 00:10:42,240 Speaker 1: and things like that, and eventually the people aren't happy 207 00:10:42,320 --> 00:10:44,840 Speaker 1: and the people start to grumble. And so the FED is, 208 00:10:45,120 --> 00:10:48,400 Speaker 1: you know, committed to bringing down inflation. The problem is, 209 00:10:48,440 --> 00:10:51,680 Speaker 1: as they're committed to bringing down inflation, the part that 210 00:10:51,720 --> 00:10:55,320 Speaker 1: they're not really saying out loud. But I've been saying 211 00:10:55,360 --> 00:10:58,120 Speaker 1: out loud, I've been shouting from my pulpit, on my 212 00:10:58,160 --> 00:11:00,840 Speaker 1: YouTube channel and from the radio show podcast, is that 213 00:11:01,320 --> 00:11:04,640 Speaker 1: the FED wants to make you broke. That's what they're 214 00:11:04,640 --> 00:11:08,959 Speaker 1: not saying. The FED wants to make you broke. I'm 215 00:11:09,000 --> 00:11:12,240 Speaker 1: gonna I'm gonna explain that to you, but before you know, 216 00:11:12,320 --> 00:11:13,960 Speaker 1: we have to look at the FED just met and 217 00:11:14,000 --> 00:11:16,960 Speaker 1: what happened. And basically Jerome Powell, the head of the FED, 218 00:11:17,000 --> 00:11:19,280 Speaker 1: said that today, well, we need to be prepared to 219 00:11:19,360 --> 00:11:23,720 Speaker 1: go to higher rates. The economy is still too good 220 00:11:24,920 --> 00:11:29,280 Speaker 1: and so we will need to raise rates more. Jerome 221 00:11:29,320 --> 00:11:31,760 Speaker 1: Powell says the FED is prepared to speed up interest 222 00:11:31,840 --> 00:11:38,360 Speaker 1: rate rises higher than previously thought to fight inflation because 223 00:11:38,679 --> 00:11:40,880 Speaker 1: you know, the economy is just still doing too good. 224 00:11:40,920 --> 00:11:45,120 Speaker 1: Apparently now I don't know what metrics he's looking at. 225 00:11:45,160 --> 00:11:46,960 Speaker 1: Actually I kind of do know what metrics he's looking at. 226 00:11:47,559 --> 00:11:50,680 Speaker 1: But the metrics that I'm looking at show us that 227 00:11:50,760 --> 00:11:55,640 Speaker 1: we are headed for massive disaster. And what kind of 228 00:11:55,640 --> 00:11:58,559 Speaker 1: metrics are those? What we can see that the savings 229 00:11:58,640 --> 00:12:02,120 Speaker 1: rate has comp letly falling off a cliff. As a 230 00:12:02,120 --> 00:12:05,520 Speaker 1: matter of fact, the amount of money that US Americans 231 00:12:05,559 --> 00:12:08,880 Speaker 1: are saving is just going down like a plane that's 232 00:12:09,360 --> 00:12:11,800 Speaker 1: at going for a crash landing. And at the same 233 00:12:11,840 --> 00:12:16,960 Speaker 1: time we have savings going down, we have personal consumption 234 00:12:17,080 --> 00:12:19,760 Speaker 1: or personal credit going through the roof. What does that 235 00:12:19,760 --> 00:12:22,120 Speaker 1: tell us? That means that the average person is living 236 00:12:22,160 --> 00:12:25,240 Speaker 1: off of credit. It's not good. We can also see 237 00:12:25,240 --> 00:12:28,480 Speaker 1: that mortgage demand from home home buyers has dropped to 238 00:12:28,520 --> 00:12:33,840 Speaker 1: its lowest levels in thirty years, not since two thousand 239 00:12:33,880 --> 00:12:37,920 Speaker 1: and eight, in thirty years. Mortgage applications to purchase at 240 00:12:37,920 --> 00:12:40,920 Speaker 1: home drop six percent last week compared to the previous week. 241 00:12:41,360 --> 00:12:45,200 Speaker 1: Seasonally adjusted, the volume was forty four percent lower than 242 00:12:45,280 --> 00:12:47,760 Speaker 1: the same week a year ago and sitting at a 243 00:12:47,880 --> 00:12:52,280 Speaker 1: twenty eight year low. Man, So that's not good. Now 244 00:12:52,920 --> 00:12:54,720 Speaker 1: you're not buying a home. What do you care? Well, 245 00:12:54,920 --> 00:12:58,600 Speaker 1: you care because if people aren't buying new homes, then 246 00:12:58,679 --> 00:13:02,120 Speaker 1: that affects all the realtors and the mortgage brokers, and 247 00:13:02,240 --> 00:13:06,800 Speaker 1: the furniture companies and the remodel companies, and the contractors, 248 00:13:06,880 --> 00:13:09,920 Speaker 1: and the lumber stores and the and Ford who makes 249 00:13:09,920 --> 00:13:15,640 Speaker 1: trucks for the contractors. It affects everybody and then all 250 00:13:15,679 --> 00:13:17,160 Speaker 1: of those But you say you don't in any of 251 00:13:17,200 --> 00:13:19,520 Speaker 1: those businesses, well, all of those people that work in 252 00:13:19,559 --> 00:13:21,840 Speaker 1: those businesses down't have money to come now and spend 253 00:13:22,120 --> 00:13:25,360 Speaker 1: your business. See how that works. We're all tied together. 254 00:13:25,400 --> 00:13:27,640 Speaker 1: So this is a really big deal. Of course, a 255 00:13:27,640 --> 00:13:29,880 Speaker 1: lot of that has been driven by the rates going 256 00:13:30,040 --> 00:13:32,120 Speaker 1: up on homes. The one thing I think is an 257 00:13:32,200 --> 00:13:34,120 Speaker 1: interesting to understanding I talk about all the time. There's 258 00:13:34,120 --> 00:13:36,480 Speaker 1: no such thing as the real estate market. There's thousands 259 00:13:36,480 --> 00:13:39,880 Speaker 1: of real estate markets, and there's a really big discrepancy 260 00:13:39,920 --> 00:13:43,760 Speaker 1: between the existing home market and the new home market. 261 00:13:44,160 --> 00:13:47,880 Speaker 1: The new homes market makes up about fifteen percent of 262 00:13:47,920 --> 00:13:50,200 Speaker 1: the total real estate market. And what we've seen is 263 00:13:50,240 --> 00:13:54,200 Speaker 1: that the existing home market hasn't really gone down that 264 00:13:54,320 --> 00:13:57,200 Speaker 1: much because people don't want to sell. Why do I 265 00:13:57,200 --> 00:13:58,720 Speaker 1: want to sell and get rid of my three percent 266 00:13:58,800 --> 00:14:01,120 Speaker 1: mortgage and then go get seven percent mortgage today? Of 267 00:14:01,160 --> 00:14:03,079 Speaker 1: course they don't want to do that, and so really 268 00:14:03,360 --> 00:14:07,679 Speaker 1: it's the new homes that are starting that are really 269 00:14:07,720 --> 00:14:11,360 Speaker 1: starting to drop off. But as we see this coming down, 270 00:14:11,559 --> 00:14:14,960 Speaker 1: we see, like I said, savings rates going down, credit 271 00:14:14,960 --> 00:14:17,959 Speaker 1: card debt going up, we see, you know, the housing 272 00:14:18,000 --> 00:14:21,760 Speaker 1: market looking like it's crashing. The FED is out here 273 00:14:21,800 --> 00:14:24,280 Speaker 1: saying that well, we need to lift rates higher because 274 00:14:24,680 --> 00:14:29,720 Speaker 1: the inflation is not going down. Now, I've been saying 275 00:14:29,760 --> 00:14:32,440 Speaker 1: for a long time. The problem is that they are 276 00:14:32,520 --> 00:14:35,320 Speaker 1: fighting a war they can't win because there's two types 277 00:14:35,320 --> 00:14:38,280 Speaker 1: of inflation. Really, it's stupid to even break them down 278 00:14:38,280 --> 00:14:40,440 Speaker 1: this way. But according to the economists, is how it's done. 279 00:14:40,640 --> 00:14:46,640 Speaker 1: You have what's demand pull or cost push. So demand 280 00:14:46,680 --> 00:14:49,000 Speaker 1: pull is when you have way too much money and 281 00:14:49,000 --> 00:14:51,160 Speaker 1: there's too much demand, and all this demand is trying 282 00:14:51,160 --> 00:14:54,720 Speaker 1: to buy a limited amount of goods. That demand starts 283 00:14:54,800 --> 00:14:58,040 Speaker 1: pulling the prices higher. Then there's cost push, where the 284 00:14:58,120 --> 00:15:00,800 Speaker 1: cost of my labor, the caut most of my goods 285 00:15:00,840 --> 00:15:04,560 Speaker 1: went up and it pushes the prices higher. We have 286 00:15:04,640 --> 00:15:09,360 Speaker 1: been seeing a cost push inflation, meaning supply chains broke down. 287 00:15:10,440 --> 00:15:12,640 Speaker 1: The cost of getting commodities out of the ground has 288 00:15:12,680 --> 00:15:15,080 Speaker 1: gone up. Gas went up, oil went up. You can't 289 00:15:15,120 --> 00:15:17,200 Speaker 1: drive the tractors is cheap anymore to deliver the goods. 290 00:15:17,200 --> 00:15:21,160 Speaker 1: It went up. It's pushing the prices up. Labor went up, right, 291 00:15:21,560 --> 00:15:24,400 Speaker 1: so it's pushing the prices up. The problem is the 292 00:15:24,480 --> 00:15:27,760 Speaker 1: FED is fighting inflation, but inflation is being caused by 293 00:15:28,040 --> 00:15:31,320 Speaker 1: cost push. But they can't affect that site. The only 294 00:15:31,360 --> 00:15:34,400 Speaker 1: thing they can affect is the demand pull. So they're 295 00:15:34,440 --> 00:15:38,080 Speaker 1: trying to crush demand by making you broke. Now again, 296 00:15:38,120 --> 00:15:41,400 Speaker 1: they haven't said that I'm saying it, but now I'm 297 00:15:41,440 --> 00:15:44,360 Speaker 1: not the only one saying it. As a matter of fact, 298 00:15:45,200 --> 00:15:48,240 Speaker 1: somebody that I do not like and do not really 299 00:15:48,240 --> 00:15:52,000 Speaker 1: agree with at all, Senator Elizabeth Warren, has come out 300 00:15:52,080 --> 00:15:54,280 Speaker 1: and said as much as a matter of fact, I 301 00:15:54,280 --> 00:15:55,480 Speaker 1: got a couple of clips for you. I want to 302 00:15:55,480 --> 00:15:57,840 Speaker 1: play because it is like I can't even believe that 303 00:15:57,880 --> 00:16:01,360 Speaker 1: she's saying this, And so let's take a listen to 304 00:16:01,360 --> 00:16:03,240 Speaker 1: this clip from Senator Elizabeth Warren right here, and then 305 00:16:03,240 --> 00:16:06,000 Speaker 1: we'll talk about it. The FED has raised interest rates 306 00:16:06,040 --> 00:16:08,240 Speaker 1: eight times over the last year and what has been 307 00:16:08,240 --> 00:16:14,040 Speaker 1: the most extreme rate height cycle in forty years. The 308 00:16:14,040 --> 00:16:17,560 Speaker 1: Fed's goal is to slow inflation, and your tool, raising 309 00:16:17,680 --> 00:16:21,120 Speaker 1: interest rates is designed to slow the economy and throw 310 00:16:21,200 --> 00:16:24,000 Speaker 1: people out of work. So far, you haven't tipped the 311 00:16:24,080 --> 00:16:27,560 Speaker 1: economy into recession, but you haven't brought inflation entirely under 312 00:16:27,600 --> 00:16:30,920 Speaker 1: control either. And maybe the reason for that is that 313 00:16:30,960 --> 00:16:34,040 Speaker 1: other things are also keeping prices high. Things you can't 314 00:16:34,120 --> 00:16:37,720 Speaker 1: fix with high interest rates, things like price gouging and 315 00:16:37,840 --> 00:16:41,800 Speaker 1: supply chain pinks and a war in Ukraine. But you're 316 00:16:41,880 --> 00:16:44,280 Speaker 1: determined to continue to raise interest rates, so I want 317 00:16:44,320 --> 00:16:47,040 Speaker 1: to take a look at where you're headed. So, as 318 00:16:47,040 --> 00:16:49,920 Speaker 1: I said, Senator Elizabeth Warren is somebody I typically do 319 00:16:50,000 --> 00:16:52,720 Speaker 1: not agree with at all, but she actually nails this 320 00:16:52,760 --> 00:16:55,720 Speaker 1: one pretty damn good. Now, she says that it's a 321 00:16:55,920 --> 00:16:58,640 Speaker 1: cost push problem. I don't agree with everything that she's 322 00:16:58,680 --> 00:17:00,560 Speaker 1: aligned on that side of the cost problem. So she 323 00:17:00,560 --> 00:17:03,320 Speaker 1: talks about price gauging. For example, she went on the 324 00:17:03,320 --> 00:17:06,479 Speaker 1: war path saying that Turkey companies were gauging you on 325 00:17:06,520 --> 00:17:08,879 Speaker 1: the price of your Thanksgiving turkey. That's not the way 326 00:17:08,960 --> 00:17:11,639 Speaker 1: markets work. If one company was trying to gauge you 327 00:17:11,680 --> 00:17:13,720 Speaker 1: on a price, then another company would come and sell 328 00:17:13,760 --> 00:17:16,399 Speaker 1: you at a lower price. That's how competition works. So 329 00:17:16,440 --> 00:17:18,720 Speaker 1: competition doesn't allow for price gauging. So I don't agree 330 00:17:18,760 --> 00:17:21,639 Speaker 1: with that. However, she is right it's a cost push problem, 331 00:17:21,800 --> 00:17:24,359 Speaker 1: and a lot of it is because of the cost 332 00:17:24,520 --> 00:17:28,359 Speaker 1: of prices going up oil commodities, et cetera. But also 333 00:17:28,400 --> 00:17:30,800 Speaker 1: supply chains, so you got that part right. Also, you know, 334 00:17:30,880 --> 00:17:33,080 Speaker 1: they blamed a lot of this problem on the war 335 00:17:33,160 --> 00:17:37,399 Speaker 1: in Russia and Ukraine, which is also part of the problem. 336 00:17:37,440 --> 00:17:42,399 Speaker 1: War is highly inflationary. War disrupts things. Any disruption in 337 00:17:42,520 --> 00:17:46,440 Speaker 1: our global supply chains causes prices to go up. Any 338 00:17:46,560 --> 00:17:51,280 Speaker 1: uncertainty that's brought into the market is inflationary and causes 339 00:17:51,359 --> 00:17:53,120 Speaker 1: things to go back up. Now I have a couple 340 00:17:53,119 --> 00:17:56,879 Speaker 1: more clips of this interview with Elizabeth Warren and Jerome 341 00:17:56,920 --> 00:18:00,320 Speaker 1: Powell Man. She nails us. I'm going to be back 342 00:18:00,320 --> 00:18:02,479 Speaker 1: with more and I have some stuff from Senator Kenny. 343 00:18:02,600 --> 00:18:03,800 Speaker 1: You do not want to miss it. I gotta take 344 00:18:03,800 --> 00:18:06,280 Speaker 1: a quick break. I'm gonna come back. Don't go away, 345 00:18:06,880 --> 00:18:12,439 Speaker 1: You're gonna love it. We're back, all right, Welcome back. 346 00:18:12,440 --> 00:18:14,000 Speaker 1: If you just tune in, you are listening to the 347 00:18:14,080 --> 00:18:17,879 Speaker 1: Mark Moss Show. We're talking about, of course, the decentralized Revolution. 348 00:18:17,880 --> 00:18:20,200 Speaker 1: I'm running through some of the latest breaking news headlines, 349 00:18:20,520 --> 00:18:23,680 Speaker 1: and we are talking about the economy, and we're talking 350 00:18:23,680 --> 00:18:26,439 Speaker 1: about the markets, the global markets, and what the Federal 351 00:18:26,560 --> 00:18:29,439 Speaker 1: Reserve is trying to do. Now. As I said, they 352 00:18:29,640 --> 00:18:33,080 Speaker 1: are trying to stop inflation, but what they're really doing 353 00:18:33,320 --> 00:18:36,560 Speaker 1: is to a war against you. I was playing some 354 00:18:36,560 --> 00:18:39,439 Speaker 1: clips from Senators with Warren. Somebody who I never agree 355 00:18:39,440 --> 00:18:41,920 Speaker 1: with and I couldn't believe that she said the quiet 356 00:18:41,960 --> 00:18:46,160 Speaker 1: part out loud, but she basically said that the inflation 357 00:18:46,240 --> 00:18:49,640 Speaker 1: is being caused by something that you do not the FED. 358 00:18:49,760 --> 00:18:53,040 Speaker 1: The FED does not have the tools to fix. So 359 00:18:53,080 --> 00:18:54,600 Speaker 1: I agree with that. Let's let's listen to this next 360 00:18:54,600 --> 00:18:57,240 Speaker 1: clip here, we'll talk about that. According to the FEDS 361 00:18:57,320 --> 00:19:01,840 Speaker 1: on report, if you'll continue racing interest rates as you plan, 362 00:19:02,520 --> 00:19:06,560 Speaker 1: unemployment will be four point six percent by the end 363 00:19:06,600 --> 00:19:09,760 Speaker 1: of the year, more than a full point higher than 364 00:19:09,800 --> 00:19:13,600 Speaker 1: it is today. Chair Pow. If you hit your projections, 365 00:19:14,160 --> 00:19:16,840 Speaker 1: do you know how many people who are currently working 366 00:19:17,160 --> 00:19:22,240 Speaker 1: going about their lives will lose their jobs? I don't. 367 00:19:23,040 --> 00:19:24,879 Speaker 1: I don't have that number in front of me. I 368 00:19:24,920 --> 00:19:29,320 Speaker 1: will say it's it's well, but it is, and it's 369 00:19:29,359 --> 00:19:32,040 Speaker 1: in your report. And that would be about two million 370 00:19:32,160 --> 00:19:35,240 Speaker 1: people who would lose their jobs, people who are working 371 00:19:35,320 --> 00:19:40,720 Speaker 1: right now making their mortgages. M So he said, that's 372 00:19:40,760 --> 00:19:42,880 Speaker 1: not an intended consequence. She says, well, it is, it's 373 00:19:43,000 --> 00:19:45,880 Speaker 1: in your report. So there's a report that came out 374 00:19:45,920 --> 00:19:48,879 Speaker 1: from the FED basically talking about how they're trying to 375 00:19:49,359 --> 00:19:53,720 Speaker 1: engineer recession, and it talks about historically what happens, and 376 00:19:53,840 --> 00:19:58,359 Speaker 1: it talks about um. Every time they raise rates what 377 00:19:58,840 --> 00:20:01,760 Speaker 1: that does to the unemployment. And so she's saying that 378 00:20:01,880 --> 00:20:03,800 Speaker 1: if they continue on this path, we're going to get 379 00:20:03,920 --> 00:20:07,919 Speaker 1: where we have. Unemployment rate is too low. You having 380 00:20:07,920 --> 00:20:10,040 Speaker 1: a job. Let me, let me explain to you. You 381 00:20:10,119 --> 00:20:13,160 Speaker 1: having a job and you getting paid more to do 382 00:20:13,240 --> 00:20:15,320 Speaker 1: your job to keep up with it with inflation is 383 00:20:15,359 --> 00:20:19,160 Speaker 1: a problem for the Fed. The FED wants two million 384 00:20:19,320 --> 00:20:23,919 Speaker 1: people to lose their jobs. Two million. She went on 385 00:20:23,960 --> 00:20:25,840 Speaker 1: to say, what do you want to say to them? 386 00:20:25,880 --> 00:20:28,119 Speaker 1: What do you want to say those two million people? Uh? Sorry, 387 00:20:28,119 --> 00:20:29,359 Speaker 1: you just have to lose your job. That's just the 388 00:20:29,400 --> 00:20:35,160 Speaker 1: way it is. Um. Listen this next clip here, there 389 00:20:35,200 --> 00:20:38,480 Speaker 1: have been twelve times in which the unemployment rate has 390 00:20:38,520 --> 00:20:43,159 Speaker 1: increased by one percentage point within one year, exactly what 391 00:20:43,200 --> 00:20:46,080 Speaker 1: you're aiming to do right now. How many of those 392 00:20:46,160 --> 00:20:51,080 Speaker 1: times did the US economy avoid falling into a recession? 393 00:20:54,080 --> 00:20:56,640 Speaker 1: You know, it's it's not as black and white as 394 00:20:56,760 --> 00:21:01,880 Speaker 1: very us the book on this. Since there's been twelve 395 00:21:02,000 --> 00:21:05,920 Speaker 1: times that we've seen a one point increase in the unemployed, 396 00:21:06,040 --> 00:21:09,600 Speaker 1: in the unemployment rate in a year, that's exactly what 397 00:21:09,840 --> 00:21:13,040 Speaker 1: your FED report has put out as the projection and 398 00:21:13,200 --> 00:21:15,399 Speaker 1: the plan based on how you're going to keep raising 399 00:21:15,400 --> 00:21:18,919 Speaker 1: these entry strates. How many times did the economy fail 400 00:21:19,200 --> 00:21:21,760 Speaker 1: to fall into a recession after doing that? Out of 401 00:21:21,800 --> 00:21:24,119 Speaker 1: twelve times, I think the number zero. I think the 402 00:21:24,200 --> 00:21:31,480 Speaker 1: number is zero. That's exactly right. So what happens if 403 00:21:31,480 --> 00:21:36,000 Speaker 1: we go down this path? For them to have any movement, 404 00:21:36,240 --> 00:21:39,800 Speaker 1: they need two million people to lose their jobs. They 405 00:21:39,840 --> 00:21:42,320 Speaker 1: need you to be paid less wages than you're being 406 00:21:42,359 --> 00:21:47,399 Speaker 1: paid now. And of the last twelve times that unemployment 407 00:21:47,400 --> 00:21:50,760 Speaker 1: has gone up by one percent, it's gone into a recession. 408 00:21:53,000 --> 00:21:56,119 Speaker 1: They're not saying that, but I've been saying it for 409 00:21:56,160 --> 00:22:00,400 Speaker 1: a year. Senator Elizabeth Warren is finally getting it. Are 410 00:22:00,440 --> 00:22:04,080 Speaker 1: you getting it? Of course? My high horse that I'm 411 00:22:04,080 --> 00:22:07,040 Speaker 1: going to rant on is in the fed. Ron Paul 412 00:22:07,080 --> 00:22:09,439 Speaker 1: really kind of got me radicalized with his campaign to 413 00:22:09,520 --> 00:22:11,080 Speaker 1: end the FED. It's really what brought my attention to 414 00:22:11,119 --> 00:22:14,840 Speaker 1: this and to think of the insanity of this world 415 00:22:14,920 --> 00:22:17,760 Speaker 1: that we're in where we have an unelected group of 416 00:22:17,800 --> 00:22:21,480 Speaker 1: people who are controlling the money, whose goal it is 417 00:22:21,800 --> 00:22:24,439 Speaker 1: to create a recession, and for two million people to 418 00:22:24,480 --> 00:22:27,080 Speaker 1: lose their jobs. Now do those two million people have 419 00:22:27,280 --> 00:22:32,159 Speaker 1: mortgages and car payments. What happens to their life, what 420 00:22:32,200 --> 00:22:35,160 Speaker 1: happens to their credit? What happens to their kids? Oh? 421 00:22:35,400 --> 00:22:37,360 Speaker 1: I guess that would I don't know. I guess it's 422 00:22:37,400 --> 00:22:42,040 Speaker 1: just an inconsequential thing that just has to happen twelve 423 00:22:42,080 --> 00:22:44,720 Speaker 1: out of twelve times. This is where we're going from. 424 00:22:45,040 --> 00:22:46,720 Speaker 1: I have another clip here, last one I'm going to 425 00:22:46,760 --> 00:22:49,840 Speaker 1: play for you, Senator Kennedy, and he nails this one, 426 00:22:49,880 --> 00:22:52,439 Speaker 1: and he really goes in to show you exactly how 427 00:22:52,480 --> 00:22:56,240 Speaker 1: bad this can get. Let's listen to this clip. You're 428 00:22:56,280 --> 00:22:59,920 Speaker 1: trying to achieve just inflation, are you not? Yes, we are, okay, 429 00:23:00,280 --> 00:23:04,200 Speaker 1: based on history, in the ten times that we got 430 00:23:04,200 --> 00:23:09,840 Speaker 1: inflation down disinflation since the nineteen fifties, in order to 431 00:23:09,880 --> 00:23:15,480 Speaker 1: reduce inflation by two percent, unemployment I had to go 432 00:23:15,760 --> 00:23:19,200 Speaker 1: up three point six percent. Now that's history, is it not. 433 00:23:20,359 --> 00:23:22,200 Speaker 1: I don't have the numbers in front of me, but yes, 434 00:23:22,240 --> 00:23:25,720 Speaker 1: the standard has been that there have been recessions and downturns. 435 00:23:26,080 --> 00:23:28,600 Speaker 1: CAFET has tried to reduce him. Now, right now, the 436 00:23:29,080 --> 00:23:32,000 Speaker 1: current inflation rates six point four percent, in the current 437 00:23:32,080 --> 00:23:35,960 Speaker 1: unemployment rates three point four percent. Now if history is right. 438 00:23:36,160 --> 00:23:40,560 Speaker 1: I'm not asking you to a game blame anybody, but 439 00:23:40,600 --> 00:23:44,520 Speaker 1: if history is right, unless you get some help, in 440 00:23:44,600 --> 00:23:47,720 Speaker 1: order to get inflation down from six point four percent 441 00:23:48,680 --> 00:23:52,960 Speaker 1: to let's say four point four percent, and the unemployer 442 00:23:53,040 --> 00:23:55,160 Speaker 1: rate is gonna have to rise to seven percent based 443 00:23:55,160 --> 00:23:58,439 Speaker 1: on history, that's what the record would say, okay, And 444 00:23:58,560 --> 00:24:02,359 Speaker 1: to get inflation down to two point two percent, based 445 00:24:02,400 --> 00:24:08,639 Speaker 1: on your street an immutable fact, unemployment would have to 446 00:24:08,680 --> 00:24:13,439 Speaker 1: go to ten point six percent, would it not. I wouldn't. 447 00:24:13,480 --> 00:24:15,240 Speaker 1: I wouldn't do. That's what the record show. That's what 448 00:24:15,280 --> 00:24:22,680 Speaker 1: the history shows. Yeah, this is where we're going. The 449 00:24:22,760 --> 00:24:25,199 Speaker 1: FED hates you. Let me let me. Let me just 450 00:24:25,200 --> 00:24:28,119 Speaker 1: say that again. The FED hates you. Their goal is 451 00:24:28,160 --> 00:24:34,720 Speaker 1: to make ten million people unemployed, ruin their credit, get 452 00:24:34,840 --> 00:24:38,080 Speaker 1: rid of their jobs, destroy their kids future. That's their goal. 453 00:24:39,040 --> 00:24:41,040 Speaker 1: It's their goal. It's the only way if they want 454 00:24:41,080 --> 00:24:43,960 Speaker 1: to get inflation down to two point two percent, history 455 00:24:44,080 --> 00:24:47,720 Speaker 1: shows and platient and unemployment will have to go from 456 00:24:47,840 --> 00:24:52,840 Speaker 1: three point five percent to ten point six percent. Millions 457 00:24:52,880 --> 00:24:55,600 Speaker 1: and millions and millions of people's lives will be destroyed. 458 00:24:57,840 --> 00:25:00,480 Speaker 1: Why let me ask you, why now? Why do we 459 00:25:00,600 --> 00:25:02,439 Speaker 1: have this inflation. Well, if we go back to the 460 00:25:02,440 --> 00:25:06,240 Speaker 1: Austrian school definition of what inflation is, inflation is an 461 00:25:06,400 --> 00:25:10,359 Speaker 1: increase in the money supply. This is super simple. These 462 00:25:10,680 --> 00:25:14,159 Speaker 1: economists try to make it super difficult. It's actually very simple. 463 00:25:14,800 --> 00:25:18,159 Speaker 1: If you have more money chasing the same amount of goods, 464 00:25:18,320 --> 00:25:21,320 Speaker 1: prices go up. If there's one house for sale and 465 00:25:21,400 --> 00:25:24,119 Speaker 1: there's ten people trying to buy that house, the price 466 00:25:24,160 --> 00:25:26,760 Speaker 1: of the house goes up. So when you increase the 467 00:25:26,840 --> 00:25:30,679 Speaker 1: money you have more money, more buyers chasing the same 468 00:25:30,800 --> 00:25:34,520 Speaker 1: amount of goods, prices go up. Inflation is not They've 469 00:25:34,600 --> 00:25:37,399 Speaker 1: changed the definition. Inflation is not prices going up, prices 470 00:25:37,440 --> 00:25:40,359 Speaker 1: going up. With prices going up. Inflation is when you inflate. 471 00:25:40,680 --> 00:25:44,280 Speaker 1: When you increase, inflate Like a balloon. You inflate the balloon. 472 00:25:44,320 --> 00:25:46,800 Speaker 1: You inflate, you increase the amount of air in a balloon. 473 00:25:47,200 --> 00:25:50,000 Speaker 1: Inflation is when you increase the amount of money in 474 00:25:50,040 --> 00:25:54,760 Speaker 1: the system. So when the FED prints money, the Fed 475 00:25:54,800 --> 00:25:58,120 Speaker 1: and the government prints money. In the pandemic, almost eleven 476 00:25:58,359 --> 00:26:02,320 Speaker 1: trillion dollars was pumped in. They inflated the money supply. 477 00:26:03,240 --> 00:26:07,240 Speaker 1: The inflation of the money supply causes prices to go 478 00:26:07,359 --> 00:26:13,040 Speaker 1: back up. Now they're trying to fight the inflation they caused, 479 00:26:13,520 --> 00:26:15,680 Speaker 1: and in order to do that, they have to destroy 480 00:26:15,960 --> 00:26:18,800 Speaker 1: millions and millions and millions of people's lives and their kids' 481 00:26:18,800 --> 00:26:22,199 Speaker 1: lives and their credit. Now, of course, when all that 482 00:26:22,280 --> 00:26:24,359 Speaker 1: happens and the cars get repoid and the car companies 483 00:26:24,359 --> 00:26:25,840 Speaker 1: don't do good, and then they don't buy homes, and 484 00:26:25,840 --> 00:26:27,920 Speaker 1: then all those builders don't have jobs, and they don't 485 00:26:27,920 --> 00:26:30,560 Speaker 1: shop at your stores, it affects everybody. This is the 486 00:26:30,760 --> 00:26:36,560 Speaker 1: entire economy. Unemployment at ten percent is unimaginable. That puts 487 00:26:36,640 --> 00:26:41,200 Speaker 1: us at great depression levels. Now, he goes on to say, 488 00:26:41,240 --> 00:26:44,280 Speaker 1: Senator Kenney goes on to say, we need to have 489 00:26:44,320 --> 00:26:47,399 Speaker 1: a reduction in the money supply, both monetary which is 490 00:26:47,400 --> 00:26:49,960 Speaker 1: what the FED controls, and the fiscal side, which means 491 00:26:49,960 --> 00:26:54,080 Speaker 1: the government needs to stop spending so much money. Both 492 00:26:54,119 --> 00:26:57,120 Speaker 1: of those are inflationary. Both the Fed and the Treasury 493 00:26:57,200 --> 00:27:00,000 Speaker 1: have to stop spending money. Stop with the money in Ukraine, 494 00:27:00,280 --> 00:27:03,680 Speaker 1: stop with the Omnibus Bill, spending, stop with the Inflation 495 00:27:03,760 --> 00:27:06,480 Speaker 1: Reduction Act. All of those things are what's causing the 496 00:27:06,520 --> 00:27:08,640 Speaker 1: price to go up. So while the Fed is trying 497 00:27:08,680 --> 00:27:13,720 Speaker 1: to make you poorer, they're actively still spending money, which 498 00:27:13,760 --> 00:27:17,000 Speaker 1: is still causing the problem. And as a Senator Warren said, 499 00:27:17,359 --> 00:27:19,800 Speaker 1: you're trying to crush demand, but it's not a demand problem, 500 00:27:19,840 --> 00:27:21,440 Speaker 1: and so it's not a war they can even win. 501 00:27:21,680 --> 00:27:23,040 Speaker 1: If you're just tuning and you're listening to the Mark 502 00:27:23,119 --> 00:27:25,040 Speaker 1: Moas Show talking about how the things are breaking down, 503 00:27:25,600 --> 00:27:27,280 Speaker 1: breaking down the economy for you right now, I got 504 00:27:27,320 --> 00:27:28,560 Speaker 1: a lot more to cover when I come back in 505 00:27:28,560 --> 00:27:32,119 Speaker 1: a minute. Yeah, some good stuff. Don't go ahead, We're back, 506 00:27:36,400 --> 00:27:38,000 Speaker 1: all right, Welcome back. If you're just tuning in, you're 507 00:27:38,040 --> 00:27:40,119 Speaker 1: listening to the Mark Moas Show, we're talking about the 508 00:27:40,160 --> 00:27:44,000 Speaker 1: decentralized revolution, the way the world is breaking apart from 509 00:27:44,040 --> 00:27:46,840 Speaker 1: a centralized world to a decentralized world. I'm running through 510 00:27:46,880 --> 00:27:49,080 Speaker 1: some of the latest breaking news headlines this week and 511 00:27:49,119 --> 00:27:54,160 Speaker 1: I saw this news headline and it's something I've talked 512 00:27:54,200 --> 00:27:57,640 Speaker 1: about before, but it's unfortunately it's making more and more 513 00:27:58,040 --> 00:28:00,639 Speaker 1: stops in the news cycle and something that I just 514 00:28:01,040 --> 00:28:03,200 Speaker 1: I can't ignore. I have to talk about, and it's 515 00:28:03,240 --> 00:28:06,720 Speaker 1: this talk about these fifteen minute cities. Have you heard 516 00:28:06,720 --> 00:28:11,040 Speaker 1: about that? Fifteen minute cities? Now, if you don't know 517 00:28:11,040 --> 00:28:15,160 Speaker 1: what that means, Basically, they want to create these cities 518 00:28:15,400 --> 00:28:19,080 Speaker 1: where everything you need is within a fifteen minute radius 519 00:28:19,160 --> 00:28:22,080 Speaker 1: from your house. So everything you need, you know, your groceries, 520 00:28:22,119 --> 00:28:25,679 Speaker 1: your dry cleaning, whatever, is all within a fifteen minute radius. 521 00:28:25,720 --> 00:28:29,199 Speaker 1: So you don't have to have cars anymore. So you 522 00:28:29,200 --> 00:28:32,000 Speaker 1: can basically walk or ride a bicycle everywhere you want 523 00:28:32,000 --> 00:28:35,040 Speaker 1: to go. Now, this is the first that I really 524 00:28:35,080 --> 00:28:39,600 Speaker 1: seen this actually in practice, was I believe, in Oxford, UK, 525 00:28:40,920 --> 00:28:43,520 Speaker 1: and since then now it's starting to spread all around 526 00:28:43,840 --> 00:28:49,280 Speaker 1: the world, including Canada and yes, even in the United States. 527 00:28:49,840 --> 00:28:53,760 Speaker 1: This is coming Now, if you haven't heard about it, 528 00:28:53,800 --> 00:28:56,560 Speaker 1: you will. It's coming to a city near you. And 529 00:28:56,680 --> 00:28:59,800 Speaker 1: basically this goes into part of a bigger plan. Now 530 00:28:59,800 --> 00:29:01,680 Speaker 1: they say that those don't know that, those don't know 531 00:29:01,760 --> 00:29:04,000 Speaker 1: history are bound to repeat it. I wouldn't say this 532 00:29:04,120 --> 00:29:06,720 Speaker 1: is so much history. It's a little bit. But you know, 533 00:29:06,920 --> 00:29:09,800 Speaker 1: when it comes to power and control over information, which 534 00:29:09,800 --> 00:29:13,360 Speaker 1: we talked about earlier, there's also power and control over 535 00:29:13,400 --> 00:29:16,560 Speaker 1: your movement and your resources and things like that. What 536 00:29:16,640 --> 00:29:18,240 Speaker 1: we know is if we go back and you look 537 00:29:18,240 --> 00:29:21,480 Speaker 1: at something called Agenda twenty twenty, and now there's Agenda 538 00:29:21,520 --> 00:29:25,640 Speaker 1: twenty thirty. These are documents that the UN has put 539 00:29:25,640 --> 00:29:28,920 Speaker 1: out the United Nations, which, by the way, you know, 540 00:29:28,960 --> 00:29:31,640 Speaker 1: the United Nations has way more influence over the United 541 00:29:31,680 --> 00:29:34,800 Speaker 1: States than you may be realized, especially since Biden Obama 542 00:29:34,840 --> 00:29:37,440 Speaker 1: has been back in office. But pour the UN they 543 00:29:37,480 --> 00:29:39,320 Speaker 1: put these these documents out and so you can go 544 00:29:39,320 --> 00:29:41,040 Speaker 1: read them, go to their website. I highly recommend that 545 00:29:41,040 --> 00:29:44,560 Speaker 1: you do, and they tell you what their agenda is 546 00:29:45,360 --> 00:29:48,000 Speaker 1: by that time. Now you've already seen, of course, no doubt. 547 00:29:48,080 --> 00:29:53,800 Speaker 1: I've talked about many times, California, the United States, the UK, Ireland, 548 00:29:53,880 --> 00:29:56,280 Speaker 1: all these countries they've they've put in these like net 549 00:29:56,360 --> 00:29:58,640 Speaker 1: zero climate goals, and a lot of them are by 550 00:29:58,760 --> 00:30:02,960 Speaker 1: getting rid of gasoline empowered cars. And you'll see by 551 00:30:03,000 --> 00:30:05,640 Speaker 1: twenty thirty, by twenty thirty five, most of these nations 552 00:30:05,720 --> 00:30:08,080 Speaker 1: say they won't you won't be allowed to sell them anymore, 553 00:30:08,320 --> 00:30:11,200 Speaker 1: they won't make them, and the goal is to sort 554 00:30:11,240 --> 00:30:12,800 Speaker 1: of get rid of cars. And if you look into 555 00:30:12,800 --> 00:30:15,440 Speaker 1: a Jina twenty twenty thirty, you'll start to see that 556 00:30:15,480 --> 00:30:16,719 Speaker 1: really what they want to do is get rid of 557 00:30:16,720 --> 00:30:19,680 Speaker 1: cars altogether. And part of the reason why they want 558 00:30:19,680 --> 00:30:21,680 Speaker 1: to get cars all together is because they want to 559 00:30:21,680 --> 00:30:26,280 Speaker 1: restrict your movement. All these things for self driving cars 560 00:30:26,280 --> 00:30:27,479 Speaker 1: will be they can just pick you up and take 561 00:30:27,520 --> 00:30:29,280 Speaker 1: you at work. But there's no more like Sunday drive 562 00:30:29,360 --> 00:30:31,280 Speaker 1: to go see your mom. And they want to push 563 00:30:31,320 --> 00:30:33,360 Speaker 1: us into these cities. Now. Like I said, this is 564 00:30:33,440 --> 00:30:35,280 Speaker 1: kind of something that's been growing and I've been seeing 565 00:30:35,280 --> 00:30:36,880 Speaker 1: more and more. But I do want to tell you 566 00:30:36,920 --> 00:30:42,440 Speaker 1: just a side note to this. While this plan is 567 00:30:42,480 --> 00:30:44,440 Speaker 1: to get us all into the cities, now, China has 568 00:30:44,480 --> 00:30:47,040 Speaker 1: been doing this for a long time. China has tried 569 00:30:47,040 --> 00:30:50,120 Speaker 1: to move everybody from the farms into the cities. While 570 00:30:50,120 --> 00:30:51,960 Speaker 1: the goal is to get us into these cities, and 571 00:30:52,000 --> 00:30:54,640 Speaker 1: so we can't move around. We're just stuck in these 572 00:30:54,640 --> 00:30:56,240 Speaker 1: cities and they can can kind of control us and 573 00:30:56,280 --> 00:31:00,400 Speaker 1: manage us. Sometimes I get kind of scared about this. 574 00:31:00,480 --> 00:31:02,600 Speaker 1: I get worried about it. I think that you know, 575 00:31:02,640 --> 00:31:04,000 Speaker 1: at some point I've kind of figure out where you 576 00:31:04,040 --> 00:31:05,120 Speaker 1: want to stay, and I'm just gonna be kind of 577 00:31:05,120 --> 00:31:07,280 Speaker 1: stuck there. I have to tell you a side note, 578 00:31:07,320 --> 00:31:10,960 Speaker 1: just a little antidotal, antidote story. I just got back 579 00:31:11,000 --> 00:31:14,040 Speaker 1: from Jackson Hole, Wyoming. I was out in Jackson Hole, Wyoming. 580 00:31:14,080 --> 00:31:16,400 Speaker 1: I went out there for a bitcoin ski week and 581 00:31:16,440 --> 00:31:18,560 Speaker 1: a bunch of meetings out there, and then I decided 582 00:31:18,560 --> 00:31:20,080 Speaker 1: to hang out for a couple extra days. I've never 583 00:31:20,080 --> 00:31:23,200 Speaker 1: been there. I've always wanted to go there, and it 584 00:31:23,280 --> 00:31:24,520 Speaker 1: was just so amazing. I had to stay for a 585 00:31:24,560 --> 00:31:27,640 Speaker 1: couple extra days, and I've never been there. If you've been, 586 00:31:27,680 --> 00:31:31,600 Speaker 1: then you probably can understand. But this is like a 587 00:31:32,280 --> 00:31:35,280 Speaker 1: this is a rugged and rough and wild part of 588 00:31:35,320 --> 00:31:38,080 Speaker 1: the part of the world or a part of the country. 589 00:31:38,080 --> 00:31:39,920 Speaker 1: I mean, I've traveled around the world quite a bit, 590 00:31:40,920 --> 00:31:44,280 Speaker 1: mostly around beaches. Most of the beaches around the world. 591 00:31:44,960 --> 00:31:50,200 Speaker 1: Jackson Hole, Wyoming is a very very cowboy rough wild 592 00:31:50,440 --> 00:31:54,080 Speaker 1: section of earth. You know. It's in the Teton Mountain Range. 593 00:31:54,160 --> 00:32:00,200 Speaker 1: These magnificent mountains, super high, super rugged for snowboard and 594 00:32:00,240 --> 00:32:02,240 Speaker 1: snow skiing, some of the best mountains in the United 595 00:32:02,280 --> 00:32:05,320 Speaker 1: States and potentially even the world for how how steep 596 00:32:05,360 --> 00:32:08,320 Speaker 1: and how tall they are. Um it's kind of at 597 00:32:08,320 --> 00:32:12,960 Speaker 1: the intersection of Idaho, Montana, and Wyoming right there, and 598 00:32:14,400 --> 00:32:17,280 Speaker 1: it's it's it's a cowboy town. Man. It's like it's 599 00:32:17,360 --> 00:32:20,440 Speaker 1: kind of out in the middle of nowhere. Um. Surprisingly, 600 00:32:20,600 --> 00:32:22,240 Speaker 1: even further than out in the middle of nowhere. So 601 00:32:22,240 --> 00:32:24,959 Speaker 1: you have like this ski town Jackson with the mountain, 602 00:32:25,200 --> 00:32:29,000 Speaker 1: and then thirty forty minutes away there's this like massive 603 00:32:29,040 --> 00:32:32,840 Speaker 1: homes built for like fifteen million dollars, like out in 604 00:32:32,840 --> 00:32:34,680 Speaker 1: the middle of nowhere. But that's not the point. The 605 00:32:34,720 --> 00:32:37,480 Speaker 1: point is is that the people that live there mostly 606 00:32:37,600 --> 00:32:39,640 Speaker 1: live there because they want to be out in the 607 00:32:39,640 --> 00:32:42,360 Speaker 1: middle of nowhere and they want that rugged lifestyle. In 608 00:32:42,400 --> 00:32:45,320 Speaker 1: the summertime, they're mountain climbing and rock climbing, and they're 609 00:32:45,400 --> 00:32:49,640 Speaker 1: kayaking and they're paddleboarding the river. They're hiking. In the summer, 610 00:32:49,760 --> 00:32:55,080 Speaker 1: they're you know, skiing, they're snowboarding, but they're doing backcountry stuff, snowmobiling, snowbiking, um, 611 00:32:55,320 --> 00:32:58,720 Speaker 1: you know, backcountry skiing, you know camp snow camping, all 612 00:32:58,720 --> 00:33:04,000 Speaker 1: these things. Crazy crazy, crazy people, cowboys. And I left 613 00:33:04,080 --> 00:33:06,959 Speaker 1: there going, you know, this whole plan to get all 614 00:33:06,960 --> 00:33:10,200 Speaker 1: these people into these cities, these fifteen minute cities that 615 00:33:10,640 --> 00:33:13,680 Speaker 1: ain't gonna work out there. You go to somewhere like 616 00:33:14,440 --> 00:33:18,400 Speaker 1: New York, or you go to La Man. La La 617 00:33:18,520 --> 00:33:21,120 Speaker 1: is like a zombie apocalypse these days, and you can 618 00:33:21,240 --> 00:33:24,560 Speaker 1: easily see how those people in the city they're just 619 00:33:24,600 --> 00:33:26,200 Speaker 1: gonna stay in the city and they might as well 620 00:33:26,240 --> 00:33:28,479 Speaker 1: just go inside and put their VR headset on and 621 00:33:28,520 --> 00:33:31,120 Speaker 1: just live in that Ready player one type world because 622 00:33:31,160 --> 00:33:33,840 Speaker 1: they're already kind of there. But these people out in 623 00:33:33,920 --> 00:33:36,160 Speaker 1: Jackson Hole, and I'm guessing in other parts like that, 624 00:33:36,280 --> 00:33:39,960 Speaker 1: like Colorado, Idaho, Montana, etc. Like it's rugged and wrong. 625 00:33:40,080 --> 00:33:42,280 Speaker 1: People live there because they want to live that lifestyle. 626 00:33:42,280 --> 00:33:44,760 Speaker 1: They want to live outdoors, and they ain't gonna go 627 00:33:44,800 --> 00:33:46,720 Speaker 1: for that. They ain't gonna go for that. So I 628 00:33:46,760 --> 00:33:48,200 Speaker 1: have to I have to tell you that I came 629 00:33:48,200 --> 00:33:52,000 Speaker 1: back a little bit assured, a little bit more optimistic that, 630 00:33:52,320 --> 00:33:54,480 Speaker 1: you know, as as scary and dangerous as it is 631 00:33:54,480 --> 00:33:56,920 Speaker 1: that they're trying to push us into this type of world. Man, 632 00:33:57,040 --> 00:33:58,880 Speaker 1: they're a long way from that, So I feel pretty 633 00:33:58,880 --> 00:34:01,640 Speaker 1: good about that. But of course it's not going to 634 00:34:01,680 --> 00:34:04,920 Speaker 1: stop them from trying. We can see that. I saw 635 00:34:04,920 --> 00:34:07,520 Speaker 1: this other article this week that power shortages are coming 636 00:34:07,640 --> 00:34:11,480 Speaker 1: soon to America. Existing power plants are projected to retire 637 00:34:11,520 --> 00:34:15,759 Speaker 1: at a faster pace than instantly installing new units. And 638 00:34:15,800 --> 00:34:20,319 Speaker 1: so we're already, especially in California, already shutting down all 639 00:34:20,360 --> 00:34:23,440 Speaker 1: of our power generation plants. We don't generate enough electricity 640 00:34:23,520 --> 00:34:27,600 Speaker 1: during the summertime, we have rolling blackouts that happen, and 641 00:34:27,719 --> 00:34:30,919 Speaker 1: that problem is only projected to get worse as we're 642 00:34:30,960 --> 00:34:34,360 Speaker 1: retiring these power plants, but we're not bringing new ones 643 00:34:34,440 --> 00:34:37,680 Speaker 1: on and so we see that being a problem. But 644 00:34:37,760 --> 00:34:40,640 Speaker 1: of course you can live in Wyoming. You can have 645 00:34:40,719 --> 00:34:43,799 Speaker 1: solar panels, you can have generators, and you can get by. 646 00:34:43,880 --> 00:34:46,319 Speaker 1: Like I said, those cowboys, I don't see them wanting 647 00:34:46,360 --> 00:34:49,279 Speaker 1: to do that. And as as bad as you know, 648 00:34:49,360 --> 00:34:53,120 Speaker 1: all of these ESG mandates have been for electricity generation 649 00:34:53,200 --> 00:34:57,520 Speaker 1: and oil generation or production, etc. You know, I've been 650 00:34:57,560 --> 00:35:00,680 Speaker 1: covering quite a bit like it's scary. Es is bad 651 00:35:00,680 --> 00:35:02,120 Speaker 1: and we should know about it. We should be scared 652 00:35:02,160 --> 00:35:03,560 Speaker 1: about it. We shouldn't push back on it. But the 653 00:35:03,640 --> 00:35:06,600 Speaker 1: pushback is working. As a matter of fact, we saw 654 00:35:06,719 --> 00:35:13,000 Speaker 1: this week the Senate killed a Biden e SG investment rule. 655 00:35:15,680 --> 00:35:19,120 Speaker 1: Biden may issue his first veto ever because of this. 656 00:35:19,120 --> 00:35:21,360 Speaker 1: But the Senate killed this bill. They don't want it. 657 00:35:21,640 --> 00:35:25,840 Speaker 1: They passed a disapproval resolution, formally killing a Biden administration 658 00:35:25,880 --> 00:35:30,000 Speaker 1: Department of Labor rule that encourages private retirement plan fidiaries 659 00:35:30,040 --> 00:35:33,839 Speaker 1: to consider ESG factors when making investment decisions for over 660 00:35:33,880 --> 00:35:36,239 Speaker 1: one hundred forty million Americans. So Basically, what the rule 661 00:35:36,280 --> 00:35:38,799 Speaker 1: says is that you have to look at this, you 662 00:35:38,880 --> 00:35:41,960 Speaker 1: have to weigh this out as part of your investment thesis. 663 00:35:43,280 --> 00:35:45,799 Speaker 1: But these Republican senators are like, wait a minute, no, 664 00:35:45,800 --> 00:35:48,600 Speaker 1: no, no no, no, no, no, no no, or investors, so we 665 00:35:48,640 --> 00:35:53,120 Speaker 1: should invest the viability of the investment itself. We should 666 00:35:53,120 --> 00:35:58,400 Speaker 1: not be taken into account these types of EESG considerations 667 00:35:58,560 --> 00:36:01,360 Speaker 1: because they're not part of what we're doing. It's not 668 00:36:01,400 --> 00:36:03,680 Speaker 1: part of the investment. And and and then it goes deeper. 669 00:36:03,680 --> 00:36:06,200 Speaker 1: Obviously they don't believe in that, etc. And so we're 670 00:36:06,200 --> 00:36:09,080 Speaker 1: seeing massive push back to this. We saw you know, 671 00:36:09,239 --> 00:36:12,239 Speaker 1: six states have divested and pulled their money away from 672 00:36:12,239 --> 00:36:15,799 Speaker 1: black Rock because of these ESG mandates, and now black 673 00:36:15,920 --> 00:36:17,920 Speaker 1: Rock is running pr they say, whoa, whoa, whoa, whoa, 674 00:36:18,000 --> 00:36:19,759 Speaker 1: We're not We're not as bad and evil as you 675 00:36:19,840 --> 00:36:21,840 Speaker 1: as you think we are. And now you know we 676 00:36:21,960 --> 00:36:25,000 Speaker 1: kind of the big three giants is black Rock, Vanguard, 677 00:36:25,000 --> 00:36:27,960 Speaker 1: and State Street. And now Vanguard has dropped their net 678 00:36:28,080 --> 00:36:31,520 Speaker 1: zero program like and so we're starting to see the 679 00:36:31,560 --> 00:36:33,560 Speaker 1: backlash of this. We have to keep the pressure on. 680 00:36:33,760 --> 00:36:38,040 Speaker 1: We have to continue to stay stay educated with continue 681 00:36:38,040 --> 00:36:40,359 Speaker 1: to stay plug. The continued to stay vigilant on this. 682 00:36:40,440 --> 00:36:42,480 Speaker 1: We have to continue to talk about these things with 683 00:36:42,520 --> 00:36:45,040 Speaker 1: our friends, our families, our co workers of course, continue 684 00:36:45,040 --> 00:36:47,879 Speaker 1: to talk about them to our policymakers so they know 685 00:36:47,960 --> 00:36:51,120 Speaker 1: that this is not what we want and hopefully we 686 00:36:51,160 --> 00:36:52,880 Speaker 1: can keep our freedom. If you're just tune and you 687 00:36:52,880 --> 00:36:54,520 Speaker 1: listen to the Markma Show running through some of the 688 00:36:54,600 --> 00:36:58,160 Speaker 1: latest breaking news, this headlines this week as we look 689 00:36:58,160 --> 00:37:01,279 Speaker 1: at the lens through politics, finance, and technology to see 690 00:37:01,360 --> 00:37:04,759 Speaker 1: the decentralized revolution. And that's what I got. I kind 691 00:37:04,800 --> 00:37:06,960 Speaker 1: of covers the week and thanks for listening.