1 00:00:00,080 --> 00:00:02,400 Speaker 1: Hello, and welcome back to another episode of The Mark 2 00:00:02,480 --> 00:00:05,320 Speaker 1: Moss Show, where we talk about the decentralized Revolution. We 3 00:00:05,320 --> 00:00:07,560 Speaker 1: talk about the way the world is changing right before 4 00:00:07,600 --> 00:00:10,520 Speaker 1: our very eyes. And of course, unless you're living under 5 00:00:10,560 --> 00:00:12,600 Speaker 1: a rock, you see this, You see it happening, and 6 00:00:12,600 --> 00:00:15,360 Speaker 1: you see it coming, and it is here. And I 7 00:00:15,440 --> 00:00:17,280 Speaker 1: like to look at through the lens of politics, finance, 8 00:00:17,320 --> 00:00:20,880 Speaker 1: and technology because it brings context to things. What I 9 00:00:20,880 --> 00:00:25,040 Speaker 1: want to talk about today is the money. The money 10 00:00:25,160 --> 00:00:28,360 Speaker 1: is changing really fast, and it's changing for many reasons. 11 00:00:28,440 --> 00:00:33,040 Speaker 1: One technology is changing money, but it's also changing politically, 12 00:00:33,080 --> 00:00:35,000 Speaker 1: and not just politically like inside the United States or 13 00:00:35,000 --> 00:00:41,400 Speaker 1: whatever country you're in, but geopolitically because money communicates or 14 00:00:41,800 --> 00:00:45,919 Speaker 1: communicates value, but it coordinates economies. And as I talk 15 00:00:45,960 --> 00:00:49,360 Speaker 1: about the decentralized revolution, we swing on a pendulum from 16 00:00:49,400 --> 00:00:52,480 Speaker 1: centralization to decentralization. And so for the last two hundred 17 00:00:52,479 --> 00:00:55,680 Speaker 1: and fifty years, the pendulum has been swinging to centralization 18 00:00:56,280 --> 00:00:59,400 Speaker 1: and we're peaked out. This globalization has peaked out. As 19 00:00:59,400 --> 00:01:01,639 Speaker 1: a matter of fact that the Globalist Agenda at their 20 00:01:01,640 --> 00:01:03,800 Speaker 1: Median last week in Davos, one of the big topics 21 00:01:03,840 --> 00:01:06,800 Speaker 1: they talked about is that globalization is over? How does 22 00:01:06,840 --> 00:01:10,039 Speaker 1: the world work when globalization is over? More importantly, what 23 00:01:10,080 --> 00:01:12,600 Speaker 1: they're saying is how can we save the world. How 24 00:01:12,680 --> 00:01:15,600 Speaker 1: could we save the world from climate change? French President 25 00:01:15,920 --> 00:01:18,680 Speaker 1: and Manu Macrone got up and said that we have 26 00:01:18,840 --> 00:01:21,760 Speaker 1: to have a one world government. If we don't, how 27 00:01:21,800 --> 00:01:24,920 Speaker 1: can we coordinate and fix climate change? And so, you know, 28 00:01:24,959 --> 00:01:27,240 Speaker 1: that's their viewpoint. But if it's ending, and they know this, 29 00:01:27,280 --> 00:01:28,800 Speaker 1: and they said, you know, how does this work in 30 00:01:28,880 --> 00:01:33,440 Speaker 1: an age deglobalization? And so as the world globalizes, then 31 00:01:33,840 --> 00:01:35,959 Speaker 1: the way that we trade changes and the way that 32 00:01:36,040 --> 00:01:38,760 Speaker 1: we use money and the world changes. And so as 33 00:01:38,800 --> 00:01:41,600 Speaker 1: the world has been trading freely, right, we have these 34 00:01:41,640 --> 00:01:44,920 Speaker 1: just in time supply chains interlacing the world. You know, 35 00:01:44,959 --> 00:01:49,280 Speaker 1: you haven't your average iPhone as parts from six different 36 00:01:49,480 --> 00:01:52,279 Speaker 1: continents in it. But as the world continues to break apart, 37 00:01:52,320 --> 00:01:54,080 Speaker 1: as we continue to have less and less trust with 38 00:01:54,120 --> 00:01:56,680 Speaker 1: each other, how do we continue to trade? And more importantly, 39 00:01:56,720 --> 00:02:00,720 Speaker 1: the dollar, the dollar is the reserve currency of the world, 40 00:02:00,800 --> 00:02:04,680 Speaker 1: is the homogeney. Everybody in the world uses and accepts dollars, 41 00:02:04,680 --> 00:02:08,880 Speaker 1: and the dollar has become a payment network. If anything else, well, 42 00:02:08,880 --> 00:02:10,640 Speaker 1: the dollars lots of things. But if anything else, the 43 00:02:10,639 --> 00:02:13,160 Speaker 1: dollar is a payment network. I can move dollars anywhere 44 00:02:13,200 --> 00:02:15,400 Speaker 1: in the world. Anybody in the world takes those dollars. 45 00:02:15,600 --> 00:02:19,079 Speaker 1: All the banks, all the remittance companies, they all use dollars. 46 00:02:20,160 --> 00:02:24,239 Speaker 1: But that's changing because the world is decentralizing. And so 47 00:02:24,960 --> 00:02:26,480 Speaker 1: to understand that, you kind of have to go back 48 00:02:26,480 --> 00:02:28,160 Speaker 1: to what I call first principles. You got to go 49 00:02:28,200 --> 00:02:31,919 Speaker 1: back to the beginning and ask yourself what is money? Now. 50 00:02:31,919 --> 00:02:34,639 Speaker 1: My good friend Robert Breedlove has a podcast titled What 51 00:02:34,880 --> 00:02:37,320 Speaker 1: Is Money because it's a big subject, and he digs 52 00:02:37,320 --> 00:02:40,040 Speaker 1: into this subject each and every episode, and you can 53 00:02:40,040 --> 00:02:41,560 Speaker 1: go on and on and on, and so, like I said, 54 00:02:41,600 --> 00:02:44,520 Speaker 1: we can know what is money. Money communicates value. It 55 00:02:44,560 --> 00:02:46,720 Speaker 1: tells to each other how much things are worth. We 56 00:02:46,760 --> 00:02:48,680 Speaker 1: don't want the money, We want the good, but we 57 00:02:48,760 --> 00:02:51,480 Speaker 1: need that money to get that good. It's the medium 58 00:02:51,560 --> 00:02:55,320 Speaker 1: of exchange. So money is a medium exchange, and it's 59 00:02:55,320 --> 00:02:57,960 Speaker 1: also a store of value. So again, we don't want money. 60 00:02:58,000 --> 00:03:00,680 Speaker 1: We want the things that money buys us. But we'll 61 00:03:00,680 --> 00:03:05,000 Speaker 1: hold money until we want those things that we want, right, 62 00:03:05,040 --> 00:03:08,080 Speaker 1: and so we'll store our wealth, we'll store our value 63 00:03:08,120 --> 00:03:10,600 Speaker 1: in the money until such a time as where to 64 00:03:10,600 --> 00:03:12,360 Speaker 1: deploy that money, and then it's a medium of exchange 65 00:03:12,400 --> 00:03:15,000 Speaker 1: to get what we want. So what you have to 66 00:03:15,080 --> 00:03:17,799 Speaker 1: understand in order to understand where the world is going. 67 00:03:17,840 --> 00:03:19,799 Speaker 1: I'm going to explain to what Russia is doing right now, 68 00:03:19,840 --> 00:03:23,200 Speaker 1: what China's doing right now, how the dollar is losing value, 69 00:03:23,200 --> 00:03:25,000 Speaker 1: and what comes next. But in order to understand that, 70 00:03:25,000 --> 00:03:28,120 Speaker 1: you have to understand this basic fact of what is money, 71 00:03:28,160 --> 00:03:30,560 Speaker 1: and so money is those things and what happens is 72 00:03:30,600 --> 00:03:35,000 Speaker 1: money is emergent, it's it evolves, right, And so throughout 73 00:03:35,040 --> 00:03:37,320 Speaker 1: history we've used all types of things as money, and 74 00:03:37,360 --> 00:03:39,200 Speaker 1: even today we use all types of things as money 75 00:03:39,200 --> 00:03:42,000 Speaker 1: because all it is is an exchange. And so we've 76 00:03:42,000 --> 00:03:45,080 Speaker 1: had feathers and rocks and seashells, and of course gold 77 00:03:45,120 --> 00:03:47,320 Speaker 1: emerged evolved as the best form of money because it 78 00:03:47,400 --> 00:03:50,600 Speaker 1: had the best attributes, and the best attributes are must 79 00:03:50,600 --> 00:03:54,160 Speaker 1: be portable. A house isn't a good meet of money 80 00:03:54,200 --> 00:03:56,720 Speaker 1: because I can't move a house with me. It must 81 00:03:56,720 --> 00:04:00,880 Speaker 1: be divisible. Cows were, you know, good for bartering, but 82 00:04:00,920 --> 00:04:02,400 Speaker 1: if I don't want a whole cow, I can't really 83 00:04:02,400 --> 00:04:05,880 Speaker 1: divide the cow up. It must be fungible, meaning if 84 00:04:05,920 --> 00:04:07,720 Speaker 1: I even know I did chop up a cow, one 85 00:04:07,760 --> 00:04:09,360 Speaker 1: part of the cow is not equal to the other 86 00:04:09,360 --> 00:04:11,000 Speaker 1: part of the cow, right something one part of steak 87 00:04:11,040 --> 00:04:12,800 Speaker 1: is better than another part of steak. It must be durable, 88 00:04:13,000 --> 00:04:15,040 Speaker 1: but bananas make a horrible form of money because bananas 89 00:04:15,040 --> 00:04:18,720 Speaker 1: don't last that long. Portable, divisible, durable, It also must 90 00:04:18,760 --> 00:04:23,000 Speaker 1: be salable and recognizable, so people have to take it. 91 00:04:23,400 --> 00:04:25,800 Speaker 1: If we have chucky cheese tokens, and let's let's just 92 00:04:25,800 --> 00:04:28,520 Speaker 1: do chucky cheese tokens as money, but nobody takes chuck 93 00:04:28,520 --> 00:04:30,800 Speaker 1: e cheese tokens, so it wouldn't work really well. And 94 00:04:30,839 --> 00:04:34,839 Speaker 1: so those are the attributes that allowed gold to emerge, 95 00:04:34,839 --> 00:04:36,880 Speaker 1: and also must be scarce. You can't just have an 96 00:04:36,920 --> 00:04:38,960 Speaker 1: unlimited amount of them. You have to control there mus 97 00:04:39,040 --> 00:04:42,200 Speaker 1: be scarcity, and so gold emerged as that best. But 98 00:04:42,279 --> 00:04:44,400 Speaker 1: the problem is that gold failed, and it's important to 99 00:04:44,440 --> 00:04:46,280 Speaker 1: understand this because the world is trying to go back 100 00:04:46,320 --> 00:04:48,520 Speaker 1: to gold right now. But if you don't understand how 101 00:04:48,560 --> 00:04:51,279 Speaker 1: gold failed, then you won't understand why going back to 102 00:04:51,279 --> 00:04:53,760 Speaker 1: gold again and the world where in today isn't going 103 00:04:53,800 --> 00:04:55,800 Speaker 1: to work again. So you have to understand that fact. 104 00:04:55,839 --> 00:05:00,440 Speaker 1: And so gold failed because the world changed. So the 105 00:05:00,480 --> 00:05:04,080 Speaker 1: world became more and more globalized, and so when I'm 106 00:05:04,120 --> 00:05:07,640 Speaker 1: living a small village, gold worked really well. But as 107 00:05:07,680 --> 00:05:11,400 Speaker 1: the world globalized, going into the thirteen and fourteen hundreds, 108 00:05:11,920 --> 00:05:15,719 Speaker 1: fourteenth and fifteenth century, we started doing more global trade. 109 00:05:16,400 --> 00:05:20,240 Speaker 1: And the problem is that gold isn't very portable, and 110 00:05:20,279 --> 00:05:22,960 Speaker 1: so if one country wanted to pay another country in gold, 111 00:05:22,960 --> 00:05:25,040 Speaker 1: how do they do that? They loaded onto a ship 112 00:05:25,080 --> 00:05:26,840 Speaker 1: and sell it across the ocean and have to worry 113 00:05:26,880 --> 00:05:29,920 Speaker 1: about pirates and storms and sunken ships and all these things. 114 00:05:30,360 --> 00:05:32,520 Speaker 1: If you know, I wanted to pay somebody in gold 115 00:05:32,600 --> 00:05:35,960 Speaker 1: from California to New York, it's very slow, and you 116 00:05:36,240 --> 00:05:38,880 Speaker 1: have to get someone to drive it, security, all these things, 117 00:05:39,080 --> 00:05:41,760 Speaker 1: and so it's not super portable. And so there was 118 00:05:41,800 --> 00:05:45,400 Speaker 1: a new piece of technology that was created. And that 119 00:05:45,520 --> 00:05:48,719 Speaker 1: new technology was created about the fourteen hundreds in Florence, Italy, 120 00:05:48,960 --> 00:05:51,320 Speaker 1: and it was called wait for it, wait for it, 121 00:05:51,360 --> 00:05:54,320 Speaker 1: wait for it. It was called a ledger. And the 122 00:05:54,480 --> 00:05:58,720 Speaker 1: ledger would then allow somebody, a trusted third party whoever 123 00:05:58,720 --> 00:06:01,880 Speaker 1: controlled that ledger, to keep track of who had the gold. 124 00:06:02,400 --> 00:06:05,360 Speaker 1: And so instead of actually having the gold, because gold 125 00:06:05,440 --> 00:06:08,680 Speaker 1: is very hard and heavy to move around. Somebody would 126 00:06:08,680 --> 00:06:11,960 Speaker 1: just say Mark has the gold, and then they would 127 00:06:12,000 --> 00:06:13,400 Speaker 1: give it to you and say you have the gold, 128 00:06:14,000 --> 00:06:16,040 Speaker 1: and that ledger was created. This allowed money to move 129 00:06:16,080 --> 00:06:18,680 Speaker 1: really fast by putting debt on it. So I would 130 00:06:18,680 --> 00:06:21,440 Speaker 1: give my gold to this trusted third party. They would 131 00:06:21,480 --> 00:06:24,440 Speaker 1: give me back a paper claim, and iou that would 132 00:06:24,480 --> 00:06:26,719 Speaker 1: allow me whenever I wanted to go back and claim 133 00:06:26,800 --> 00:06:30,320 Speaker 1: that gold, like a pawn shop or here I'm in Canada. 134 00:06:30,360 --> 00:06:32,960 Speaker 1: I gave my jacket. We don't wear jackets really in California, 135 00:06:33,000 --> 00:06:34,960 Speaker 1: but in here it's cold. I to wear a jacket, 136 00:06:34,960 --> 00:06:36,919 Speaker 1: so I go to the restaurant and they take my 137 00:06:36,960 --> 00:06:38,800 Speaker 1: coat from me and they give me a claim ticket. 138 00:06:39,440 --> 00:06:41,280 Speaker 1: When I come back, I give my claim ticket to 139 00:06:41,320 --> 00:06:42,880 Speaker 1: give my cote back. And so that's how it works. 140 00:06:42,920 --> 00:06:45,400 Speaker 1: I'd give them my gold, they'd keep track of who 141 00:06:45,440 --> 00:06:47,240 Speaker 1: had the gold. But the problem is is what that 142 00:06:47,279 --> 00:06:49,520 Speaker 1: did is its centralized gold, and all the gold ended 143 00:06:49,560 --> 00:06:52,599 Speaker 1: up going into these banks. And in the early nineteen 144 00:06:52,680 --> 00:06:55,080 Speaker 1: hundreds in the United States, all the gold was sitting 145 00:06:55,080 --> 00:06:57,719 Speaker 1: in the banks and wear these dollars or paper gold 146 00:06:57,720 --> 00:07:01,880 Speaker 1: certificates or claims IOUs and what happened is the government 147 00:07:01,960 --> 00:07:05,800 Speaker 1: started printing way more of these paper claims than they 148 00:07:05,839 --> 00:07:09,000 Speaker 1: actually had gold. And by nineteen thirty three, the government 149 00:07:09,000 --> 00:07:11,040 Speaker 1: owed so much gold, but they didn't have it because 150 00:07:11,040 --> 00:07:13,600 Speaker 1: they printed all these fake claims. They told all these 151 00:07:13,600 --> 00:07:15,880 Speaker 1: guys they had jackets when they didn't really have the jackets. 152 00:07:15,880 --> 00:07:17,280 Speaker 1: They told those people they had gold when they didn't 153 00:07:17,280 --> 00:07:19,280 Speaker 1: have the gold, and so they were in a bad situation. 154 00:07:19,320 --> 00:07:21,920 Speaker 1: So nineteen thirty three, Executive Order sixty one h two, 155 00:07:22,160 --> 00:07:25,559 Speaker 1: the President declared all gold illegal to be owned by people, 156 00:07:25,800 --> 00:07:27,080 Speaker 1: and all the gold that was in the bank, they 157 00:07:27,080 --> 00:07:30,080 Speaker 1: seized it, they confiscated it. Okay, that's why it failed 158 00:07:30,120 --> 00:07:34,120 Speaker 1: because gold is not portable. And now, fast forwarding to today, 159 00:07:34,640 --> 00:07:37,600 Speaker 1: money as we know it, or dollars or the financial 160 00:07:37,640 --> 00:07:41,120 Speaker 1: system is now becoming a weapon. And as a matter 161 00:07:41,160 --> 00:07:43,920 Speaker 1: of fact, it has always been a weapon. Governments have 162 00:07:44,040 --> 00:07:46,000 Speaker 1: used money as a weapon for as long as as 163 00:07:46,000 --> 00:07:49,400 Speaker 1: we know, whether that be using it too funded army 164 00:07:49,720 --> 00:07:53,400 Speaker 1: to fight as a weapon or to steal arbitrarily from 165 00:07:53,440 --> 00:07:56,160 Speaker 1: its people. And so the government can only tax people 166 00:07:56,200 --> 00:07:58,400 Speaker 1: so much before people freak out. And so the way 167 00:07:58,400 --> 00:08:00,840 Speaker 1: they tax you without you knowing it or without you 168 00:08:00,920 --> 00:08:04,200 Speaker 1: objecting or getting mad is they do it through inflation, 169 00:08:04,400 --> 00:08:06,440 Speaker 1: and as they print that money, they're basically stealing from you. 170 00:08:06,480 --> 00:08:08,400 Speaker 1: So it's been a weapon against us as the people. 171 00:08:08,440 --> 00:08:12,320 Speaker 1: Governments use it to steal wealth from the people Zimbabwe, Venezuela, Turkey, 172 00:08:12,400 --> 00:08:14,560 Speaker 1: on and on and on. It's gotten worse than it 173 00:08:14,600 --> 00:08:16,400 Speaker 1: has gotten bigger than that, and it's been used not 174 00:08:16,440 --> 00:08:18,760 Speaker 1: just on its own people but to other nations. And 175 00:08:18,800 --> 00:08:21,920 Speaker 1: so we can see where this really picked up steam 176 00:08:21,960 --> 00:08:26,000 Speaker 1: in twenty fourteen when the United States and the intelligence 177 00:08:26,040 --> 00:08:30,680 Speaker 1: community organized a coup in Ukraine and they overthrew the 178 00:08:30,920 --> 00:08:35,040 Speaker 1: democratically elected governments of Ukraine to install their own government there. 179 00:08:35,080 --> 00:08:38,360 Speaker 1: Of course, Russia didn't like that. They moved in to 180 00:08:38,440 --> 00:08:42,160 Speaker 1: take over a part of Ukraine and so started the 181 00:08:42,200 --> 00:08:46,400 Speaker 1: war in twenty fourteen, where then the United States weaponized 182 00:08:46,480 --> 00:08:50,560 Speaker 1: the financial system and applied sanctions to Russia. So when 183 00:08:51,080 --> 00:08:55,040 Speaker 1: the US powers do that, they weaponize it. All right, 184 00:08:55,040 --> 00:08:56,560 Speaker 1: I'm gonna be back with more. If you're just tuning 185 00:08:56,600 --> 00:08:58,760 Speaker 1: in you're listening to the Mark Moss Show, we're talking 186 00:08:58,760 --> 00:09:01,120 Speaker 1: about the decentralized Revolution, and I'm talking about the way 187 00:09:01,280 --> 00:09:03,600 Speaker 1: that Russia and China and the bricks, nations are changing, 188 00:09:03,640 --> 00:09:07,160 Speaker 1: the money, the dollars dying, and what's coming next. And 189 00:09:07,200 --> 00:09:08,880 Speaker 1: I'm explaining to you from the ground up, so you 190 00:09:08,920 --> 00:09:11,280 Speaker 1: can see clearly I got a whole lot to cover. 191 00:09:11,320 --> 00:09:14,160 Speaker 1: This is gonna be super fun, exciting and informative. So 192 00:09:14,200 --> 00:09:15,880 Speaker 1: don't go away. I'll be right back with more in 193 00:09:15,920 --> 00:09:18,040 Speaker 1: a minute. All right, welcome back. If you're just tune in, 194 00:09:18,080 --> 00:09:20,280 Speaker 1: you're listening to the Mark Moss Show. We're talking about, 195 00:09:20,320 --> 00:09:23,560 Speaker 1: of course, the decentralized Revolution, talking about the way that 196 00:09:23,600 --> 00:09:27,640 Speaker 1: the world is decentralizing, the money is decentralizing, the dollar 197 00:09:28,120 --> 00:09:31,320 Speaker 1: is losing its place in the world, and what comes next. 198 00:09:31,400 --> 00:09:33,199 Speaker 1: And so in order to understand what comes next, you 199 00:09:33,280 --> 00:09:35,560 Speaker 1: have to understand what's happened in the past and the 200 00:09:35,559 --> 00:09:38,199 Speaker 1: problems that we had. And so I explained the problems 201 00:09:38,240 --> 00:09:41,160 Speaker 1: with gold, the centralization aspect of it. But now I'm 202 00:09:41,160 --> 00:09:43,360 Speaker 1: talking about how the money is being used as a weapon. 203 00:09:43,400 --> 00:09:47,480 Speaker 1: And so we saw again the governments the United States 204 00:09:47,480 --> 00:09:50,560 Speaker 1: started weaponizing the dollar and more specifically the dollar network, 205 00:09:50,600 --> 00:09:55,080 Speaker 1: the Swift system, the FX systems against Russia in twenty fourteen, 206 00:09:55,840 --> 00:09:57,640 Speaker 1: and they continue to do that. As a matter of fact, 207 00:09:57,640 --> 00:10:00,760 Speaker 1: if the government started to censor anybody they don't like, Oh, 208 00:10:00,920 --> 00:10:03,040 Speaker 1: censor you, censor you. Oh I don't like this policy, 209 00:10:03,080 --> 00:10:07,200 Speaker 1: censor you, censor you. And it's it's a way to 210 00:10:07,360 --> 00:10:09,600 Speaker 1: impose you know, these sanctions are a way to impose 211 00:10:09,640 --> 00:10:14,560 Speaker 1: your will or basically steal arbitrarily from these governments. In 212 00:10:14,600 --> 00:10:17,480 Speaker 1: twenty eighteen, there was an article written on CNBC by 213 00:10:17,960 --> 00:10:20,800 Speaker 1: someone named Left and he said quote that the US 214 00:10:20,960 --> 00:10:26,920 Speaker 1: was waging war on one tenth of the world. The 215 00:10:27,040 --> 00:10:30,760 Speaker 1: US was waging war, and they're waging war economically. Now 216 00:10:30,800 --> 00:10:33,680 Speaker 1: you may have heard these stats, but about over two 217 00:10:33,880 --> 00:10:37,400 Speaker 1: billion adults in the world. Now there's about one eight 218 00:10:37,440 --> 00:10:41,320 Speaker 1: billion people in the world, So two billion adults in 219 00:10:41,360 --> 00:10:45,120 Speaker 1: the world have no access to banking. And the main 220 00:10:45,200 --> 00:10:48,320 Speaker 1: reason why is because they're not allowed to They're not 221 00:10:48,360 --> 00:10:51,560 Speaker 1: allowed to have access because the US dollar system is 222 00:10:51,559 --> 00:10:53,520 Speaker 1: permission do you have to have permission in order to 223 00:10:53,640 --> 00:10:55,800 Speaker 1: use it, and so these they're not allowed to use it. So, 224 00:10:55,840 --> 00:10:58,320 Speaker 1: for example, let's say that you're in Iran, you're a 225 00:10:58,320 --> 00:11:01,600 Speaker 1: fifteen year old kid, you're super pro freedom, you're not 226 00:11:01,600 --> 00:11:04,520 Speaker 1: happy with your government, and you're trying to make a 227 00:11:04,520 --> 00:11:06,319 Speaker 1: better life for yourself, and so you start an Instagram 228 00:11:06,360 --> 00:11:08,000 Speaker 1: account and you want to you know, sell e commerce 229 00:11:08,080 --> 00:11:10,240 Speaker 1: or something. Well, you're not allowed to join the financial 230 00:11:10,280 --> 00:11:14,440 Speaker 1: system because your country is sanctioned. And so about one 231 00:11:14,480 --> 00:11:16,839 Speaker 1: tenth of the world is sanctioned by by the United 232 00:11:16,840 --> 00:11:21,920 Speaker 1: States or now today about one quarter one one out 233 00:11:21,920 --> 00:11:24,920 Speaker 1: of every four people in the world today are under 234 00:11:25,040 --> 00:11:28,839 Speaker 1: some form of US sanctions. I believe a week ago, 235 00:11:28,840 --> 00:11:30,520 Speaker 1: a week or two ago, there was a big meeting 236 00:11:30,800 --> 00:11:35,079 Speaker 1: held in Singapore and George Yao is the former Foreign 237 00:11:35,160 --> 00:11:38,240 Speaker 1: Minister of Singapore. At the conference, he said, quote, if 238 00:11:38,280 --> 00:11:43,400 Speaker 1: you weaponize the international financial system, alternatives will grow to 239 00:11:43,559 --> 00:11:48,560 Speaker 1: replace it. End quote. So if you weaponize the international 240 00:11:48,600 --> 00:11:51,000 Speaker 1: finance system, alternators will go to replace it. Yes. Of course, 241 00:11:51,200 --> 00:11:54,240 Speaker 1: if you kick people out of the financial system, then 242 00:11:54,320 --> 00:11:57,599 Speaker 1: they can't use the dollar financial system. So what do 243 00:11:57,640 --> 00:11:59,080 Speaker 1: they do Just go in a hole and die? Of 244 00:11:59,080 --> 00:12:02,480 Speaker 1: course not. They just find another way to do financial transactions. 245 00:12:02,480 --> 00:12:04,520 Speaker 1: They just find another way. If I'm having a party 246 00:12:04,960 --> 00:12:06,440 Speaker 1: and I don't like some people at the party, I 247 00:12:06,520 --> 00:12:07,960 Speaker 1: kick you out. I kick you out. I kick you 248 00:12:08,000 --> 00:12:09,520 Speaker 1: out to kick you out, and you guys all go 249 00:12:09,600 --> 00:12:13,040 Speaker 1: form your own party. You all go somewhere else. One 250 00:12:13,080 --> 00:12:15,880 Speaker 1: I have no more control over you. And two, you 251 00:12:15,920 --> 00:12:17,920 Speaker 1: don't just go die, you go go somewhere else, you 252 00:12:17,960 --> 00:12:20,199 Speaker 1: go create your own party. And that's exactly what happened. 253 00:12:20,880 --> 00:12:23,800 Speaker 1: But really the world changed about a year ago February 254 00:12:23,840 --> 00:12:26,600 Speaker 1: twenty twenty two, and the whole world was put on notice. 255 00:12:26,600 --> 00:12:28,880 Speaker 1: And of course I've been talking about this since then, 256 00:12:29,160 --> 00:12:31,200 Speaker 1: but the world was really put on notice as it 257 00:12:31,280 --> 00:12:33,960 Speaker 1: was escalating. As I said, from twenty fourteen twenty eighteen, 258 00:12:34,040 --> 00:12:35,840 Speaker 1: you know, now to a quarter of the world's population. 259 00:12:36,160 --> 00:12:38,400 Speaker 1: And you see, you know, Afghanistan had their central bank 260 00:12:38,440 --> 00:12:42,360 Speaker 1: reserves stolen from the US. About eight billion dollars was taken. 261 00:12:43,480 --> 00:12:45,960 Speaker 1: And I know, the Afghanistan they're bad people, right, blah 262 00:12:46,000 --> 00:12:50,200 Speaker 1: blah blah. But people, the people have their money in 263 00:12:50,200 --> 00:12:52,440 Speaker 1: the bank and the bank puts it in the central bank. 264 00:12:52,559 --> 00:12:55,959 Speaker 1: And so when the US took the central bank's money, sure, 265 00:12:56,000 --> 00:12:58,080 Speaker 1: I mean maybe they were taking Taliban money, but they're 266 00:12:58,120 --> 00:13:01,080 Speaker 1: also taking the people's money. Nobody bats and eye when 267 00:13:01,080 --> 00:13:03,240 Speaker 1: it happens to Iran. I mean, they're bad people, right, 268 00:13:03,280 --> 00:13:04,960 Speaker 1: and they don't bat an eye what happens in Afghanistan. 269 00:13:05,000 --> 00:13:06,880 Speaker 1: I mean they're bad people, right, But what about what 270 00:13:06,960 --> 00:13:10,040 Speaker 1: it happens in February twenty twenty two, when the world's 271 00:13:10,040 --> 00:13:13,200 Speaker 1: put on notice when there's three global superpowers in the world, 272 00:13:13,240 --> 00:13:16,240 Speaker 1: three with nuclear weapons China, Russia, in the United States 273 00:13:16,280 --> 00:13:20,520 Speaker 1: and Russia had their bank accounts seized. And what happened 274 00:13:20,600 --> 00:13:23,760 Speaker 1: is when they got their bank account seized, every nation 275 00:13:23,800 --> 00:13:26,520 Speaker 1: in the world was put on notice that, shoot, the 276 00:13:26,679 --> 00:13:30,680 Speaker 1: dollar is not some neutral monetary system. As a matter 277 00:13:30,720 --> 00:13:34,640 Speaker 1: of fact, it can be taken at any given time. Now, 278 00:13:34,880 --> 00:13:36,760 Speaker 1: a lot of people message me and ask me All 279 00:13:36,760 --> 00:13:39,000 Speaker 1: the time I was at this conference, people were asking me, Mark, 280 00:13:39,080 --> 00:13:41,560 Speaker 1: what about these bank bail in laws. I'm afraid that 281 00:13:41,600 --> 00:13:43,480 Speaker 1: the money in the bank, they'll take it right in 282 00:13:43,559 --> 00:13:46,160 Speaker 1: the bill in what should I do to protect myself? Well, 283 00:13:46,200 --> 00:13:50,000 Speaker 1: that's basically what these nations are asking themselves, right, what 284 00:13:50,040 --> 00:13:52,760 Speaker 1: do I do if the US takes my money? And 285 00:13:52,880 --> 00:13:55,520 Speaker 1: so they have to start thinking about ways that they 286 00:13:55,559 --> 00:13:57,840 Speaker 1: can protect themselves. But more importantly, if they've been completely 287 00:13:57,920 --> 00:14:00,480 Speaker 1: kicked out like Russia, they got to find new way 288 00:14:00,480 --> 00:14:04,839 Speaker 1: to do transactions. And that's exactly what's happening. And so 289 00:14:05,000 --> 00:14:06,800 Speaker 1: what I want you to understand though, is that this 290 00:14:06,880 --> 00:14:10,559 Speaker 1: is a process and not an event. So people ask 291 00:14:10,640 --> 00:14:13,400 Speaker 1: me all the time mark. When is this going to happen? Well, 292 00:14:13,440 --> 00:14:16,679 Speaker 1: it is happening. It's happening. It's a process. When the 293 00:14:16,800 --> 00:14:19,640 Speaker 1: US dollars took over from the pounds sterling, which was 294 00:14:19,680 --> 00:14:22,120 Speaker 1: the last major reserve currency, it was a process. It 295 00:14:22,160 --> 00:14:24,520 Speaker 1: took about thirty years. We're going to process and we 296 00:14:24,520 --> 00:14:26,200 Speaker 1: can witness. I've given you a couple of data points. 297 00:14:26,240 --> 00:14:28,000 Speaker 1: Let me give you a couple more. So, what we 298 00:14:28,040 --> 00:14:31,120 Speaker 1: know is that because Russia was forced out of the dollar, 299 00:14:31,680 --> 00:14:36,560 Speaker 1: they've now made the Chinese yuan their reserve currency. So 300 00:14:37,000 --> 00:14:39,040 Speaker 1: who's the reserve currency of the world, Well, it's the 301 00:14:39,120 --> 00:14:42,920 Speaker 1: dollar for now. What's next, Well, Russia has made China 302 00:14:43,240 --> 00:14:45,440 Speaker 1: the uan their reserves. A matter of fact, seventeen percent 303 00:14:45,480 --> 00:14:48,920 Speaker 1: of their reserves are in Chinese yuan. We have known 304 00:14:49,000 --> 00:14:53,040 Speaker 1: friendly countries like the UAE, United Arab em Rights. The UAE. 305 00:14:53,480 --> 00:14:56,760 Speaker 1: They have now begun issuing bonds, not in dollars like 306 00:14:56,800 --> 00:14:59,520 Speaker 1: they have always done, but in their own currency, so 307 00:14:59,560 --> 00:15:02,280 Speaker 1: they're out of the dollar. Egypt, which is again a 308 00:15:02,440 --> 00:15:05,680 Speaker 1: very friendly country to the United States, has also started 309 00:15:05,720 --> 00:15:09,120 Speaker 1: issuing bonds like they always do, but not in dollars. Instead, 310 00:15:09,160 --> 00:15:14,120 Speaker 1: they've issued five hundred million dollars in yuan Chinese yuan bonds. Israel, 311 00:15:14,240 --> 00:15:16,560 Speaker 1: which is a big friendly, one of the biggest allies 312 00:15:16,600 --> 00:15:19,240 Speaker 1: to the United States specifically in the Middle East, has 313 00:15:19,240 --> 00:15:24,360 Speaker 1: also diversified their foreign exchange holdings into yuue. China and 314 00:15:24,400 --> 00:15:28,120 Speaker 1: India are now doing mdals buying oil outside of the dollar. 315 00:15:28,280 --> 00:15:30,880 Speaker 1: So these are actual facts and this is the process 316 00:15:30,920 --> 00:15:34,960 Speaker 1: we're seeing these things happen. But more importantly, the big 317 00:15:35,000 --> 00:15:37,560 Speaker 1: things that are happening is that what we're seeing is 318 00:15:37,600 --> 00:15:40,880 Speaker 1: that central banks are buying more gold than any time 319 00:15:41,120 --> 00:15:43,320 Speaker 1: in the last fifty five years, which is previous to 320 00:15:43,360 --> 00:15:46,000 Speaker 1: going off the gold standard. And why are they doing 321 00:15:46,000 --> 00:15:48,600 Speaker 1: that Well, because they understand that the US dollar is 322 00:15:48,640 --> 00:15:51,360 Speaker 1: a weapon nize system, and they're doing that to take 323 00:15:51,400 --> 00:15:55,280 Speaker 1: steps to protect themselves. The problem is they don't understand 324 00:15:55,280 --> 00:15:57,000 Speaker 1: how gold failed in the past. The problem is they 325 00:15:57,040 --> 00:15:59,520 Speaker 1: don't understand history properly, or more important, they don't understand 326 00:15:59,560 --> 00:16:02,840 Speaker 1: tachnoledge and how the world's changing. And this might be 327 00:16:02,880 --> 00:16:05,240 Speaker 1: the wrong move. So what am I talking about? Well, 328 00:16:06,080 --> 00:16:08,200 Speaker 1: like I said, central banks are buying massive bounts of gold. 329 00:16:08,920 --> 00:16:12,280 Speaker 1: We can see that Russia has decided in their central 330 00:16:12,280 --> 00:16:15,200 Speaker 1: bank to double the amount of reserves they having gold. 331 00:16:15,280 --> 00:16:17,760 Speaker 1: Typically they would hold twenty percent of their reserves in gold. 332 00:16:17,920 --> 00:16:20,680 Speaker 1: They've decided to double that to make it forty percent. 333 00:16:22,240 --> 00:16:23,880 Speaker 1: It's a big move. That means they're going to be 334 00:16:23,920 --> 00:16:27,800 Speaker 1: buying massive amounts of gold, which is why gold has 335 00:16:27,800 --> 00:16:29,840 Speaker 1: been rallied. Gold rallied from you know, in the sixteen 336 00:16:29,880 --> 00:16:32,800 Speaker 1: hundred to over nineteenhundred, almost pushing two thousand dollars an ounce. 337 00:16:33,160 --> 00:16:36,040 Speaker 1: That's a really really big move for gold. More importantly, 338 00:16:36,440 --> 00:16:38,720 Speaker 1: it's a big move for gold because gold is supposed 339 00:16:38,720 --> 00:16:42,360 Speaker 1: to go up in a high inflation environment. But over 340 00:16:42,400 --> 00:16:44,720 Speaker 1: the last six months or so, as gold has been 341 00:16:44,760 --> 00:16:48,560 Speaker 1: going up, inflation has been going down. It's not supposed 342 00:16:48,560 --> 00:16:51,440 Speaker 1: to work that way. Gold goes up when inflation goes up. 343 00:16:51,640 --> 00:16:53,480 Speaker 1: But now inflation has been going down and gold has 344 00:16:53,480 --> 00:16:55,200 Speaker 1: been going up at the same time. Why is that 345 00:16:55,240 --> 00:16:58,240 Speaker 1: And that's an important piece to understand, and part of 346 00:16:58,280 --> 00:17:00,760 Speaker 1: it it's because of the central banks buying massive amounts 347 00:17:00,800 --> 00:17:03,960 Speaker 1: of gold, including Russia. Now I want to tell you 348 00:17:04,000 --> 00:17:05,840 Speaker 1: about what China is doing, and I want to explain 349 00:17:06,040 --> 00:17:08,800 Speaker 1: why they're doing it. We're gonna talk about why it's 350 00:17:08,840 --> 00:17:10,479 Speaker 1: the wrong move, why it's the same wild problem. We're 351 00:17:10,480 --> 00:17:13,040 Speaker 1: gonna talk about technology, and we're going to talk about 352 00:17:14,000 --> 00:17:17,160 Speaker 1: where things are going from a very zoomed out view, 353 00:17:17,200 --> 00:17:19,040 Speaker 1: and we'll talk about gold, and we're gonna talk about 354 00:17:19,080 --> 00:17:21,080 Speaker 1: bitcoin and so much more. If you're just tuning in, 355 00:17:21,119 --> 00:17:22,840 Speaker 1: you're listening to the Markmas Show, we talk about the 356 00:17:22,880 --> 00:17:25,840 Speaker 1: decentralized revolution, the way the world is changing, so you 357 00:17:25,840 --> 00:17:29,240 Speaker 1: can understand what's going more importantly, what you need to 358 00:17:29,280 --> 00:17:31,920 Speaker 1: be doing to protect yourself as this world changes. I'll 359 00:17:31,960 --> 00:17:33,480 Speaker 1: be back with all that and more in a minute, 360 00:17:33,560 --> 00:17:35,879 Speaker 1: so don't go away, all right. If you're just tune in, 361 00:17:35,920 --> 00:17:38,119 Speaker 1: you're listening to the markma Show, we're talking about the 362 00:17:38,240 --> 00:17:41,399 Speaker 1: decentralized Revolution, of course, each and every week, and we're 363 00:17:41,440 --> 00:17:45,639 Speaker 1: specifically talking about how right now today in the world, 364 00:17:46,000 --> 00:17:49,680 Speaker 1: the dollar system has become weaponized against Russia and other countries. 365 00:17:49,680 --> 00:17:52,320 Speaker 1: And now we're seeing central banks around the world buying 366 00:17:52,520 --> 00:17:55,080 Speaker 1: more gold than anytime in history will least Fisch five years. 367 00:17:55,440 --> 00:17:57,320 Speaker 1: And so we see the central banks we're buying massive 368 00:17:57,320 --> 00:18:00,280 Speaker 1: amounts of gold and it's pushing gold's price higher, wall 369 00:18:00,359 --> 00:18:03,960 Speaker 1: inflation is going down, and that typically doesn't happen. And 370 00:18:04,080 --> 00:18:06,359 Speaker 1: part of that is because of this massive demand. I mean, 371 00:18:06,440 --> 00:18:08,639 Speaker 1: come on, look, I say it all the time. Prices 372 00:18:08,760 --> 00:18:12,960 Speaker 1: are driven by supply and demand. If you have more demand, 373 00:18:13,160 --> 00:18:16,600 Speaker 1: more buyers, then you have supply. Price goes up. And 374 00:18:16,680 --> 00:18:19,040 Speaker 1: the opposite is true. If you have more supply than 375 00:18:19,080 --> 00:18:20,840 Speaker 1: there are buyers, the price has to come down. It's 376 00:18:20,920 --> 00:18:23,720 Speaker 1: very simple. Now. The gold market, you know, it's about 377 00:18:23,720 --> 00:18:28,080 Speaker 1: twelve trillion dollars roughly, give or take. But that sounds 378 00:18:28,080 --> 00:18:29,720 Speaker 1: like a big market, but it's really not that big 379 00:18:29,720 --> 00:18:31,560 Speaker 1: because most of it's being held by central banks and 380 00:18:31,560 --> 00:18:33,760 Speaker 1: it's put away. Then we have the jewelry market, so 381 00:18:33,800 --> 00:18:37,720 Speaker 1: there's not a lot of gold to buy, and so 382 00:18:38,240 --> 00:18:40,840 Speaker 1: there's really not that much. It's it's a pretty inelastic market, 383 00:18:40,880 --> 00:18:43,119 Speaker 1: and so a little bit of buying pressure can do 384 00:18:43,200 --> 00:18:46,280 Speaker 1: a lot to the price. And so Russia doubling their 385 00:18:46,320 --> 00:18:49,399 Speaker 1: reserve requirements from twenty to forty percent is a massive move. 386 00:18:50,160 --> 00:18:53,000 Speaker 1: And what that's done is it's sort of I believe, 387 00:18:53,600 --> 00:18:55,960 Speaker 1: is responsible for pushing the price of gold up at 388 00:18:56,000 --> 00:18:59,160 Speaker 1: this low inflation environment. But more importantly, I think it's 389 00:18:59,280 --> 00:19:04,120 Speaker 1: probably set a new floor price for gold, meaning there's 390 00:19:04,119 --> 00:19:06,199 Speaker 1: a buyer now and they're trying to buy lots of 391 00:19:06,240 --> 00:19:09,520 Speaker 1: gold well supply demand. There's massive demand now and I 392 00:19:09,520 --> 00:19:12,280 Speaker 1: don't see gold slipping back down much lower because of 393 00:19:12,280 --> 00:19:14,920 Speaker 1: this massive band they set this price floor. And then 394 00:19:14,960 --> 00:19:16,720 Speaker 1: on top of that, we have China just came out 395 00:19:16,720 --> 00:19:19,160 Speaker 1: and announced the last two months in a row they've 396 00:19:19,200 --> 00:19:23,000 Speaker 1: added over thirty metric tons each month, so a total 397 00:19:23,000 --> 00:19:27,679 Speaker 1: of sixty metric tons of gold, which is a massive 398 00:19:27,880 --> 00:19:31,040 Speaker 1: amount of gold. Potentially there could be five or six 399 00:19:31,080 --> 00:19:33,840 Speaker 1: percent of what the gold is held in the United States, 400 00:19:33,920 --> 00:19:36,479 Speaker 1: and they did that in just two months. We know 401 00:19:36,560 --> 00:19:38,920 Speaker 1: that China didn't just buy this gold, because you can't 402 00:19:38,920 --> 00:19:42,520 Speaker 1: buy that much. The question is they've had it all along. 403 00:19:43,000 --> 00:19:46,080 Speaker 1: Why are they just announcing now that they bought it 404 00:19:46,480 --> 00:19:48,800 Speaker 1: or they have it? That's the question. What are they 405 00:19:48,880 --> 00:19:52,280 Speaker 1: angling for? Right, They've had this gold all along, but 406 00:19:52,320 --> 00:19:54,399 Speaker 1: they're just now telling us that they have it. So 407 00:19:54,480 --> 00:19:57,720 Speaker 1: why why are they telling us this? Well, I believe 408 00:19:57,720 --> 00:19:59,600 Speaker 1: they're telling us this for the same reason that Russia 409 00:19:59,640 --> 00:20:01,520 Speaker 1: is buying a whole bunch. And what they're trying to 410 00:20:01,560 --> 00:20:04,640 Speaker 1: do is they're trying to shore up their financial system. 411 00:20:04,880 --> 00:20:08,040 Speaker 1: They're trying to say, look, we have the gold, and 412 00:20:08,119 --> 00:20:11,720 Speaker 1: they're doing this to put confidence confidence confidence. It always 413 00:20:11,720 --> 00:20:13,560 Speaker 1: goes back to confidence. It goes to go back to trust. 414 00:20:13,920 --> 00:20:17,360 Speaker 1: If they can build confidence in their financial system, they 415 00:20:17,400 --> 00:20:19,840 Speaker 1: can get more people to use it. And so I 416 00:20:19,960 --> 00:20:22,439 Speaker 1: talked about all these nations that are now starting to 417 00:20:22,520 --> 00:20:27,800 Speaker 1: do bonds or put Chinese yuan onto their reserves or 418 00:20:28,080 --> 00:20:31,040 Speaker 1: denominate bonds in Chinese yu want. Now, people will only 419 00:20:31,080 --> 00:20:33,200 Speaker 1: do that if they have confidence in it. Now, there's 420 00:20:33,200 --> 00:20:36,000 Speaker 1: not a lot of confidence in China, all right, Nobody 421 00:20:36,000 --> 00:20:38,600 Speaker 1: really trusts them. There's not a lot of transparency there. 422 00:20:38,760 --> 00:20:40,840 Speaker 1: There's not a lot of confidence there. So China is 423 00:20:40,840 --> 00:20:44,000 Speaker 1: working to try to bring some confidence there. And they're 424 00:20:44,040 --> 00:20:45,879 Speaker 1: adding a bunch of gold. They're telling people they have 425 00:20:45,920 --> 00:20:48,440 Speaker 1: a bunch of gold. They're being more truthful, and they're 426 00:20:48,440 --> 00:20:52,639 Speaker 1: showing people they have the backing and people are responding. 427 00:20:52,760 --> 00:20:56,720 Speaker 1: As I said, we're seeing now Israel diverse fight in 428 00:20:56,720 --> 00:21:00,520 Speaker 1: the Juan. Egypt issued Juan bonds. Right have made you 429 00:21:00,600 --> 00:21:02,919 Speaker 1: on seventy percent of the reserves. And so it's working. 430 00:21:03,040 --> 00:21:06,399 Speaker 1: They're doing this, all right, this is a process, this 431 00:21:06,440 --> 00:21:09,440 Speaker 1: is what they're angling for. But here's the problem. The 432 00:21:09,480 --> 00:21:12,919 Speaker 1: problem is is that they are trying to fix the 433 00:21:13,000 --> 00:21:19,200 Speaker 1: problem with a very very old solution without realizing why 434 00:21:19,320 --> 00:21:22,440 Speaker 1: this old solution failed and why it will fail again. 435 00:21:23,200 --> 00:21:25,560 Speaker 1: It's the same old problem. So what am I talking about. Well, 436 00:21:25,600 --> 00:21:28,159 Speaker 1: as I said, we're going into a whole new world. 437 00:21:28,600 --> 00:21:31,159 Speaker 1: And now the fifteenth and sixteenth century was also a 438 00:21:31,160 --> 00:21:33,680 Speaker 1: whole new world. But now we're going into an even 439 00:21:33,680 --> 00:21:35,840 Speaker 1: bigger world than. As I say all the time, technology 440 00:21:35,920 --> 00:21:38,119 Speaker 1: is what changes the world. It changes the way the 441 00:21:38,160 --> 00:21:42,120 Speaker 1: world organizes itself. So an example of this, I've said 442 00:21:42,119 --> 00:21:44,359 Speaker 1: it before if you're a regular listener thing and then 443 00:21:44,359 --> 00:21:46,080 Speaker 1: you've heard it. If you're not a regular listener, then 444 00:21:46,359 --> 00:21:50,320 Speaker 1: please become one, and you you can tune in each 445 00:21:50,320 --> 00:21:52,200 Speaker 1: and every week on this channel at this time. You 446 00:21:52,200 --> 00:21:53,639 Speaker 1: can pull it your phone and put a reminder and 447 00:21:53,800 --> 00:21:55,360 Speaker 1: make sure you tune in with me each and every week. 448 00:21:55,760 --> 00:21:58,680 Speaker 1: But basically, if you look back through thousands of years 449 00:21:58,720 --> 00:22:00,640 Speaker 1: of history, you see how technology each change of the world. 450 00:22:00,640 --> 00:22:03,520 Speaker 1: So an example of that would be for thousands of years, 451 00:22:03,560 --> 00:22:06,280 Speaker 1: people rode horses, and in the Roman Empire, they'd ride 452 00:22:06,280 --> 00:22:08,959 Speaker 1: horses the battle. In the Egyptian Empire, they'd ride horse 453 00:22:09,000 --> 00:22:11,520 Speaker 1: to the battle, but they'd get off of those horses 454 00:22:11,520 --> 00:22:13,280 Speaker 1: to fight. And that's why like in the Egyptian Empire, 455 00:22:13,320 --> 00:22:15,920 Speaker 1: they would use chariots. The horses would get them there 456 00:22:15,920 --> 00:22:17,800 Speaker 1: in the chariot, then they would get off the horse 457 00:22:17,840 --> 00:22:19,760 Speaker 1: and they had fight. But then there was a new invention, 458 00:22:20,440 --> 00:22:24,600 Speaker 1: and it's it's argued when this invention actually happened, but 459 00:22:24,640 --> 00:22:26,920 Speaker 1: it's not really argued of when it really came into place, 460 00:22:27,000 --> 00:22:30,760 Speaker 1: and that's the stirrup, the horse stirrup, and it allowed 461 00:22:30,760 --> 00:22:32,359 Speaker 1: a knight to get onto a horse with his armor 462 00:22:32,520 --> 00:22:35,560 Speaker 1: and allowed him to fight from the horse. And so 463 00:22:35,600 --> 00:22:38,040 Speaker 1: there's you know, artifacts and some stuff that argued that 464 00:22:38,080 --> 00:22:42,000 Speaker 1: the stirrup was invented earlier than about one thousand a d. However, 465 00:22:42,720 --> 00:22:44,920 Speaker 1: really where it started changing the world was when knights 466 00:22:44,920 --> 00:22:46,719 Speaker 1: could fight from the horse. And the reason why that's 467 00:22:46,720 --> 00:22:49,880 Speaker 1: important is because not allowed the feudal system to the 468 00:22:49,920 --> 00:22:53,280 Speaker 1: centralization of the feudal system to grow, because now one 469 00:22:53,400 --> 00:22:56,920 Speaker 1: knight could handle hundreds of serfs, and it allowed the 470 00:22:57,480 --> 00:23:00,359 Speaker 1: power and the centralization of the feudal system to up. 471 00:23:00,400 --> 00:23:02,680 Speaker 1: The kingdoms. I'm controlled by the knights and they could 472 00:23:02,680 --> 00:23:05,240 Speaker 1: control the many, the peasants and the serfs. But then 473 00:23:05,280 --> 00:23:09,320 Speaker 1: about five hundred years later we had the gunpowder Revolution, 474 00:23:09,440 --> 00:23:12,040 Speaker 1: and now one surf or peasant with a gun could 475 00:23:12,040 --> 00:23:15,000 Speaker 1: take out a hundred knights, and then it broke the 476 00:23:15,160 --> 00:23:18,480 Speaker 1: centralizing power of the monarchy and pushed people back into 477 00:23:18,560 --> 00:23:21,000 Speaker 1: a more of a decentralized manner. So that's an example. 478 00:23:21,320 --> 00:23:23,600 Speaker 1: And we have a new technology as well. And what 479 00:23:23,680 --> 00:23:26,000 Speaker 1: am I talking about, Well, we're in the information age. 480 00:23:26,040 --> 00:23:28,760 Speaker 1: The Internet has changed the world now. Already in the 481 00:23:28,800 --> 00:23:30,920 Speaker 1: fifteenth century we had that through global trade and we 482 00:23:30,960 --> 00:23:32,719 Speaker 1: had to move into this ledger system. But today we 483 00:23:32,760 --> 00:23:35,920 Speaker 1: live in an information age. You're listening to me right 484 00:23:35,960 --> 00:23:39,320 Speaker 1: now over the internet or over the airwaves or something 485 00:23:39,359 --> 00:23:41,480 Speaker 1: like that. So we're in this information age. And the 486 00:23:41,520 --> 00:23:45,640 Speaker 1: problem is is that old money like gold doesn't work 487 00:23:45,640 --> 00:23:48,000 Speaker 1: in the information age. What we've done is we've moved 488 00:23:48,040 --> 00:23:53,399 Speaker 1: from the physical world with physical laws to informational or 489 00:23:53,520 --> 00:23:59,840 Speaker 1: man made rules, and that is the crux of the problem. Okay, 490 00:24:00,160 --> 00:24:03,400 Speaker 1: So in a physical world, it's very simple, right If 491 00:24:03,480 --> 00:24:08,240 Speaker 1: I have a gold token in my hand, everyone knows 492 00:24:08,280 --> 00:24:10,679 Speaker 1: that Mark has the gold token in his hand, and 493 00:24:10,720 --> 00:24:12,520 Speaker 1: if I hand it to you, everybody could see that. 494 00:24:12,560 --> 00:24:14,680 Speaker 1: Everybody knows that you have the gold token in your hand. 495 00:24:15,080 --> 00:24:17,600 Speaker 1: That's in a physical world. But in an information world. 496 00:24:18,440 --> 00:24:20,720 Speaker 1: Then we need to use something like a ledger, and 497 00:24:20,760 --> 00:24:23,920 Speaker 1: the ledger would instead of being directly represented when I 498 00:24:23,920 --> 00:24:26,159 Speaker 1: have it at my hand, now that the ledger indirectly 499 00:24:26,640 --> 00:24:30,520 Speaker 1: reflects the state of things, and the ledger tells us 500 00:24:30,600 --> 00:24:34,560 Speaker 1: who has the gold token in their hand. Ledgers are 501 00:24:34,640 --> 00:24:39,960 Speaker 1: informational and they're centralized because somebody has to control the ledger. 502 00:24:40,320 --> 00:24:43,879 Speaker 1: Tokens are inherently trustless. If I have it, I have it. 503 00:24:43,920 --> 00:24:45,840 Speaker 1: If you have it, you have it. Ledgers are not 504 00:24:46,000 --> 00:24:49,359 Speaker 1: I have to trust whoever is controlling that ledger, and 505 00:24:49,520 --> 00:24:51,800 Speaker 1: that is the crux of the problem. So if we 506 00:24:51,880 --> 00:24:54,919 Speaker 1: zoom out and we take a look at things, what 507 00:24:55,040 --> 00:24:56,800 Speaker 1: we can see is that, as I said, the world 508 00:24:56,880 --> 00:24:59,119 Speaker 1: is deglobalizing. It was the big trend of Davos and 509 00:24:59,200 --> 00:25:02,120 Speaker 1: the West. And as the world deglobalizes, we have less 510 00:25:02,160 --> 00:25:06,359 Speaker 1: trust with each other and there's less liquidity. And this 511 00:25:06,480 --> 00:25:10,040 Speaker 1: technology is opening up to give us a way to 512 00:25:10,160 --> 00:25:13,720 Speaker 1: manage this, but it's not going backwards. Now about every 513 00:25:13,840 --> 00:25:19,359 Speaker 1: fifty years there's a technological revolution. That means there's a 514 00:25:19,359 --> 00:25:22,520 Speaker 1: new technology that's so revolutionary it changes the course of humanity, 515 00:25:22,520 --> 00:25:25,840 Speaker 1: and it drives all financial markets. And we're witnessing one 516 00:25:26,000 --> 00:25:31,440 Speaker 1: right now. And the revolution is decentralization. That's the revolution, 517 00:25:32,160 --> 00:25:39,000 Speaker 1: So not faster money. It's decentralization because as we move 518 00:25:39,000 --> 00:25:41,600 Speaker 1: into this new world, we're moving from one of physical 519 00:25:41,800 --> 00:25:46,000 Speaker 1: a physical world, to an information world. And as the 520 00:25:46,000 --> 00:25:49,840 Speaker 1: world decentralizes, we need stuff that can move around the world, 521 00:25:50,040 --> 00:25:53,640 Speaker 1: and it needs to move permissionless. We can't get permission 522 00:25:53,720 --> 00:25:55,960 Speaker 1: from every single little tiny country in the world to 523 00:25:56,040 --> 00:25:58,520 Speaker 1: move in a globalized world where we have one world 524 00:25:58,560 --> 00:26:00,840 Speaker 1: government and it kind of works, but in a decentralized 525 00:26:00,880 --> 00:26:02,560 Speaker 1: or deglobalized world, it doesn't work. We need to be 526 00:26:02,600 --> 00:26:05,080 Speaker 1: permission list. It needs to be borderless, it needs to 527 00:26:05,080 --> 00:26:08,120 Speaker 1: build a move seamlessly across the world, and it must 528 00:26:08,160 --> 00:26:11,480 Speaker 1: be trustless. We don't want to put our trust in 529 00:26:11,560 --> 00:26:14,480 Speaker 1: somebody controlling the ledger, because we see how well that 530 00:26:14,520 --> 00:26:17,560 Speaker 1: worked out for Russia. You do one wrong move and 531 00:26:17,640 --> 00:26:20,520 Speaker 1: you lose all your money, even if you're a global 532 00:26:20,520 --> 00:26:23,760 Speaker 1: superpower with nuclear weapons. And it must have all the 533 00:26:23,840 --> 00:26:27,800 Speaker 1: attributes of money. It must be portable, divisible, durable, salable, 534 00:26:28,160 --> 00:26:32,640 Speaker 1: but most importantly, it must be neutral. It must be 535 00:26:32,800 --> 00:26:36,600 Speaker 1: something that nobody can control. A decentralized ledger that nobody 536 00:26:36,640 --> 00:26:38,840 Speaker 1: can control. All right, Now, if you're just tuning in, 537 00:26:38,880 --> 00:26:40,879 Speaker 1: you're listening to the Mark Moss Show, and I'm explaining 538 00:26:40,960 --> 00:26:44,320 Speaker 1: how the world is deglobalizing, decentralizing, and how this is 539 00:26:44,359 --> 00:26:46,919 Speaker 1: going to change the money supply, and how all the 540 00:26:46,960 --> 00:26:48,720 Speaker 1: moves of the central banks over the last several months 541 00:26:48,840 --> 00:26:52,000 Speaker 1: are going back the wrong direction. I'm gonna be back 542 00:26:52,040 --> 00:26:53,920 Speaker 1: with more of that in a minute. You don't want 543 00:26:53,920 --> 00:26:56,320 Speaker 1: to miss it, so don't go away, all right, Welcome back. 544 00:26:56,359 --> 00:26:58,080 Speaker 1: If you're just tuning in, you're listening to the Mark 545 00:26:58,160 --> 00:27:01,640 Speaker 1: Moss Show, we're talking about the centralized revolution, of course, 546 00:27:01,640 --> 00:27:03,960 Speaker 1: each and every week, how the world is changing right 547 00:27:04,119 --> 00:27:07,680 Speaker 1: before our very eyes. And I'm talking about how the 548 00:27:07,720 --> 00:27:09,439 Speaker 1: central banks around the world are buying more gold than 549 00:27:09,440 --> 00:27:12,760 Speaker 1: any time in history because they're trying to build a 550 00:27:12,800 --> 00:27:16,680 Speaker 1: new financial system. The US has weaponized the US dollar, 551 00:27:17,040 --> 00:27:20,600 Speaker 1: They've weaponized it against all these nations, and they've really, 552 00:27:20,640 --> 00:27:23,000 Speaker 1: I think crossed the rubicon, so to speak, jumped the shark, 553 00:27:23,040 --> 00:27:25,760 Speaker 1: we might say. When they took away Russia's bank accounts, 554 00:27:25,800 --> 00:27:28,880 Speaker 1: over five hundred billion dollars was seized and the whole 555 00:27:28,880 --> 00:27:30,359 Speaker 1: world was put on notice, like shoot, if that can 556 00:27:30,400 --> 00:27:32,399 Speaker 1: happen to Russia, it can happen to anybody. It was 557 00:27:32,400 --> 00:27:34,480 Speaker 1: one thing when happened to these little small countries, but 558 00:27:34,520 --> 00:27:36,520 Speaker 1: what about us? And so now they're trying to stack 559 00:27:36,520 --> 00:27:39,600 Speaker 1: all this gold And I'm explaining how the problem with 560 00:27:39,680 --> 00:27:43,360 Speaker 1: gold is that centralization happens because it doesn't move over space. 561 00:27:43,960 --> 00:27:47,040 Speaker 1: And so in this new world where we have deglobalization, 562 00:27:47,680 --> 00:27:50,280 Speaker 1: we can't have something physical. We can't go back to 563 00:27:50,320 --> 00:27:53,680 Speaker 1: the way things were because it failed because it didn't work. 564 00:27:53,720 --> 00:27:54,920 Speaker 1: And so if we try to go back to the 565 00:27:54,960 --> 00:27:56,919 Speaker 1: same system is going to fail for the exact same reason. 566 00:27:57,359 --> 00:27:59,120 Speaker 1: You can't just go back and do the same thing again. 567 00:27:59,200 --> 00:28:02,840 Speaker 1: You have to fix the problem. Fixing the problem was 568 00:28:03,119 --> 00:28:05,600 Speaker 1: going from a physical world of gold, moving physical gold 569 00:28:05,600 --> 00:28:08,639 Speaker 1: to a informational based system of a ledger. But that 570 00:28:08,720 --> 00:28:11,520 Speaker 1: solved that problem. Under the Brenton Woods Agreement, the US 571 00:28:11,560 --> 00:28:14,560 Speaker 1: dollar system was a neutral payment system, so it's solve 572 00:28:14,680 --> 00:28:17,880 Speaker 1: the problem of gold of that it doesn't settle over 573 00:28:17,920 --> 00:28:22,159 Speaker 1: time and space. But it then eventually created new problems, 574 00:28:22,200 --> 00:28:24,200 Speaker 1: which is where we're at today, which is now whoever 575 00:28:24,240 --> 00:28:27,400 Speaker 1: controls the ledger controls everything, and we have to trust them, 576 00:28:27,720 --> 00:28:29,560 Speaker 1: and we're finding out over and over that we can't 577 00:28:29,560 --> 00:28:32,640 Speaker 1: trust them. So that's the new problem. And the other 578 00:28:32,680 --> 00:28:35,080 Speaker 1: problem is that as the US continues to kick everybody 579 00:28:35,080 --> 00:28:37,359 Speaker 1: out of the system, those people are forced to go 580 00:28:37,440 --> 00:28:40,440 Speaker 1: find their own system, build a new system. And that's 581 00:28:40,480 --> 00:28:42,640 Speaker 1: exactly what's happening. I just think they're building it the 582 00:28:42,640 --> 00:28:44,560 Speaker 1: wrong way, and a new system is also emerging at 583 00:28:44,600 --> 00:28:47,880 Speaker 1: the same time. And so as the world continues to 584 00:28:47,920 --> 00:28:50,240 Speaker 1: break apart, as there's less trust, as we need to 585 00:28:50,240 --> 00:28:54,760 Speaker 1: continue to have global trade, we need a decentralized ledger 586 00:28:54,880 --> 00:28:58,720 Speaker 1: that nobody can control, that we don't have to trust 587 00:28:58,880 --> 00:29:01,280 Speaker 1: anybody with. First of all, if you don't know what 588 00:29:01,320 --> 00:29:04,320 Speaker 1: I'm talking about, I'm talking about bitcoin. So bitcoin is 589 00:29:04,360 --> 00:29:08,760 Speaker 1: a decentralized ledger that nobody can control. It's borderless. You 590 00:29:08,760 --> 00:29:12,640 Speaker 1: can move it around the world seamlessly, instantly for free. 591 00:29:12,720 --> 00:29:16,760 Speaker 1: It's borderless. It's permissionless. Anybody in any country, anywhere in 592 00:29:16,760 --> 00:29:18,360 Speaker 1: the world could download an app on their phone and 593 00:29:18,400 --> 00:29:22,360 Speaker 1: instantly have bitcoin and transact with bitcoin. Not so with dollars. 594 00:29:22,400 --> 00:29:24,280 Speaker 1: As I said, about two billion adults in the world 595 00:29:24,360 --> 00:29:26,720 Speaker 1: have no access because they don't have permission. They'll never 596 00:29:26,760 --> 00:29:30,600 Speaker 1: be able to get permission. It's borderless, it's permissionless, and 597 00:29:30,720 --> 00:29:33,880 Speaker 1: it's trustless. I don't have to trust the bank not 598 00:29:33,960 --> 00:29:36,120 Speaker 1: to steal my money. I don't have to trust the 599 00:29:36,200 --> 00:29:37,800 Speaker 1: US government not to sanction me. I don't have to 600 00:29:37,800 --> 00:29:43,000 Speaker 1: trust anybody because it's a decentralized ledger that nobody can control. Now, 601 00:29:43,360 --> 00:29:47,000 Speaker 1: what about all the other twenty two thousands of cryptocurrencies, Mark, 602 00:29:47,120 --> 00:29:48,760 Speaker 1: How do I know bitcoin is the right one? Well, 603 00:29:49,080 --> 00:29:50,920 Speaker 1: I was just speaking at this gold conference. It wasn't 604 00:29:50,920 --> 00:29:52,800 Speaker 1: a gold conference, it was it was a mining conference, 605 00:29:52,800 --> 00:29:54,719 Speaker 1: and they mined more than gold, but mostly gold. And 606 00:29:54,760 --> 00:29:56,360 Speaker 1: I made the case to these gold guys. I said, 607 00:29:57,080 --> 00:29:59,560 Speaker 1: gold is a metal, right, it's a precious metal. There's 608 00:29:59,560 --> 00:30:02,320 Speaker 1: lots of precious metals, and there's lots of other metals 609 00:30:02,360 --> 00:30:06,080 Speaker 1: that aren't considered precious as well, aluminum, steel, chromali. The 610 00:30:06,120 --> 00:30:09,000 Speaker 1: precious metals are palladium and platinum and silver. Right, So 611 00:30:09,040 --> 00:30:11,080 Speaker 1: there's lots of precious metals, and there's not all metals 612 00:30:11,160 --> 00:30:14,080 Speaker 1: or precious metals, and not all precious metals are gold. 613 00:30:14,560 --> 00:30:17,760 Speaker 1: And so I could say gold is a metal, but really, 614 00:30:17,760 --> 00:30:19,680 Speaker 1: when I'm talking about gold, I'm talking about gold. When 615 00:30:19,720 --> 00:30:21,760 Speaker 1: I say that the central banks are buying more gold 616 00:30:21,800 --> 00:30:23,480 Speaker 1: than any time in history. I'm not saying they're buying 617 00:30:23,520 --> 00:30:27,000 Speaker 1: more metal. I'm saying they're buying gold. They're not buying aluminum, 618 00:30:27,560 --> 00:30:30,480 Speaker 1: they're not buying silver, they're not buying nickel. They're buying gold. 619 00:30:31,200 --> 00:30:34,440 Speaker 1: And so we also say that about bitcoin. Now, bitcoin 620 00:30:34,720 --> 00:30:37,280 Speaker 1: is a cryptocurrency, but when we talk about bitcoin, we're 621 00:30:37,280 --> 00:30:40,840 Speaker 1: not talking about cryptocurrency. We're talking about bitcoin because bitcoin 622 00:30:41,000 --> 00:30:44,120 Speaker 1: is different than all twenty two thousand cryptocurrencies, just like 623 00:30:44,200 --> 00:30:47,480 Speaker 1: gold is different than every form of metal out there. Now, 624 00:30:47,480 --> 00:30:50,320 Speaker 1: how is gold different than all the other metals out there, Well, 625 00:30:50,360 --> 00:30:56,280 Speaker 1: it has a different set of attributes. There's a different molecular, chemical, 626 00:30:57,000 --> 00:31:00,080 Speaker 1: mineral makeup of gold that makes it different than all 627 00:31:00,120 --> 00:31:02,960 Speaker 1: those other metals. It's also different in the fact that 628 00:31:03,040 --> 00:31:06,920 Speaker 1: it's more scarce. Right, So there's different attributes that make 629 00:31:07,200 --> 00:31:09,760 Speaker 1: goal different than all the other metals. Cold. It is metal, 630 00:31:09,760 --> 00:31:11,960 Speaker 1: but it's not the same as all the metals. Bitcoin 631 00:31:12,040 --> 00:31:13,760 Speaker 1: is a cryptocurrency, but it's not the same as any 632 00:31:13,760 --> 00:31:16,959 Speaker 1: of the other cryptocurrencies because it has different attributes, because 633 00:31:16,960 --> 00:31:23,320 Speaker 1: it's borderless, because it's permissionless, because it's censorship resistant, because 634 00:31:23,400 --> 00:31:26,040 Speaker 1: it's scarce. There's twenty one million. There will never be 635 00:31:26,040 --> 00:31:27,960 Speaker 1: more than twenty one million. But Mark, what about etherium? 636 00:31:27,960 --> 00:31:31,920 Speaker 1: Ethereum is now more deflationary, really well metallic, Buterin and 637 00:31:32,000 --> 00:31:35,360 Speaker 1: Joseph Lubinin, guys that control it, have changed the monetary 638 00:31:35,360 --> 00:31:38,160 Speaker 1: issues like three times in the last like two years. 639 00:31:40,120 --> 00:31:42,480 Speaker 1: So they change it to be whatever they want. It's 640 00:31:42,480 --> 00:31:45,640 Speaker 1: not trustless. I have to trust them. I have to 641 00:31:45,680 --> 00:31:47,480 Speaker 1: trust them that they're not going to change the rules, 642 00:31:47,520 --> 00:31:48,960 Speaker 1: but they do all the time. How can I trust 643 00:31:49,040 --> 00:31:50,520 Speaker 1: them they do it all the time. They just did it, 644 00:31:51,520 --> 00:31:54,440 Speaker 1: so I have to trust them. Bitcoin is trust lists, 645 00:31:54,840 --> 00:31:58,280 Speaker 1: Bitcoin is censorship resistant. It's peer to peer. I send 646 00:31:58,320 --> 00:32:00,320 Speaker 1: it to you. Nobody can stop it blocking up venett 647 00:32:00,320 --> 00:32:02,720 Speaker 1: but ethereum they could stop it. They just change the 648 00:32:02,800 --> 00:32:06,840 Speaker 1: entire consis mechanism. All the servers sit on Amazon Web services. 649 00:32:06,960 --> 00:32:09,360 Speaker 1: Amazon can just shut it off. And I'm not going 650 00:32:09,440 --> 00:32:11,160 Speaker 1: to go into all that. You can do your own research. 651 00:32:11,520 --> 00:32:14,840 Speaker 1: But bitcoin is different, just like gold is different than metal, 652 00:32:15,040 --> 00:32:16,760 Speaker 1: and so we need to have those attributes now. One 653 00:32:16,800 --> 00:32:18,840 Speaker 1: of my favorite analysts Lennold, and she says that to 654 00:32:19,160 --> 00:32:23,280 Speaker 1: equate crypto with bitcoin is to misunderstand both, and it's 655 00:32:23,280 --> 00:32:25,240 Speaker 1: not just her, It's not just me. Fidality, one of 656 00:32:25,240 --> 00:32:27,240 Speaker 1: the largest asset managers in the world, said that quote 657 00:32:27,400 --> 00:32:32,680 Speaker 1: Bitcoin is fundamentally different from any other digital asset. No 658 00:32:32,840 --> 00:32:35,800 Speaker 1: other digital asset is likely to improve upon Bitcoin. That's 659 00:32:35,800 --> 00:32:38,960 Speaker 1: what they said. It's secure, decentralized, sound digital money, and 660 00:32:39,160 --> 00:32:44,880 Speaker 1: any improvement will necessarily face tradeoffs end quote that's from Fidelity. 661 00:32:45,240 --> 00:32:47,960 Speaker 1: Any improvement will necessarily face tradeoffs. So the real revolution 662 00:32:48,040 --> 00:32:52,320 Speaker 1: is decentralization. In order to improve on Bitcoin, you can't 663 00:32:52,360 --> 00:32:55,680 Speaker 1: be more decentralized, which is what gives it the borderless 664 00:32:55,720 --> 00:32:59,479 Speaker 1: permission list censorship resistant aspect because it's decentralized, and because 665 00:32:59,520 --> 00:33:03,600 Speaker 1: you can't improve on decentralization, all the other twenty two 666 00:33:03,600 --> 00:33:07,320 Speaker 1: thousand cryptocurrencies try to trade off for something else. Well, 667 00:33:07,320 --> 00:33:11,719 Speaker 1: we can't be more decentralized, so let's be I don't know, faster, 668 00:33:12,480 --> 00:33:15,719 Speaker 1: but to get faster you're less decentralized, which gives it 669 00:33:15,960 --> 00:33:18,800 Speaker 1: the sensor to resistant nature, which is exactly what the 670 00:33:18,840 --> 00:33:22,640 Speaker 1: revolution is now. Bick can already be sent faster and 671 00:33:22,720 --> 00:33:24,680 Speaker 1: cheaper than any of their cryptocurrency out there, so you 672 00:33:24,680 --> 00:33:26,600 Speaker 1: can't really improve on that anymore either. They try to 673 00:33:26,800 --> 00:33:29,040 Speaker 1: for many years but now with lightning network, you can't 674 00:33:29,080 --> 00:33:32,040 Speaker 1: do that. So what am I saying here? What I'm 675 00:33:32,040 --> 00:33:34,920 Speaker 1: saying is that the world's changing and the dollar system 676 00:33:35,000 --> 00:33:37,040 Speaker 1: is dying. Now. It's not going to die today, and 677 00:33:37,040 --> 00:33:39,600 Speaker 1: it's not going to die this year. But it's a process, 678 00:33:39,720 --> 00:33:42,000 Speaker 1: not an event. The dollar took over from the British 679 00:33:42,000 --> 00:33:46,520 Speaker 1: pounds sterling one hundred years ago or nineteen forty four officially, 680 00:33:47,280 --> 00:33:50,280 Speaker 1: but the British pounds sterling is still the third most 681 00:33:50,440 --> 00:33:54,080 Speaker 1: used currency in the world today. So even though the 682 00:33:54,160 --> 00:33:57,480 Speaker 1: pound sterling was replaced one hundred years ago, it's still 683 00:33:57,560 --> 00:33:59,480 Speaker 1: the third most use And so even though the dollar 684 00:33:59,600 --> 00:34:02,480 Speaker 1: is losing and it's relevance doesn't mean it just disappears 685 00:34:02,480 --> 00:34:05,440 Speaker 1: and goes away. When the dollars took over the pounds darling, 686 00:34:05,440 --> 00:34:07,440 Speaker 1: it was the thirty year process. The dollars losing its 687 00:34:07,480 --> 00:34:10,120 Speaker 1: relevancy over thirty year process doesn't mean it goes away altogether. 688 00:34:10,800 --> 00:34:15,040 Speaker 1: But also, as the world changes, you understand the problems 689 00:34:15,040 --> 00:34:17,680 Speaker 1: it faces, and you understand that the solutions it needs 690 00:34:18,000 --> 00:34:21,719 Speaker 1: are not going backwards back to gold. It's not that 691 00:34:23,960 --> 00:34:27,279 Speaker 1: now the governments don't understand that completely, but you and 692 00:34:27,320 --> 00:34:29,560 Speaker 1: I do. And what you and I want, as you 693 00:34:29,600 --> 00:34:31,759 Speaker 1: know investors, is we want a couple of things. But 694 00:34:31,840 --> 00:34:34,239 Speaker 1: ultimately what we're looking for is the difference or the 695 00:34:34,360 --> 00:34:40,840 Speaker 1: mismatch of perception and reality. So bitcoine has been traded 696 00:34:40,880 --> 00:34:44,440 Speaker 1: by Wall Street like a new you know, trade toy. Right. 697 00:34:44,600 --> 00:34:46,319 Speaker 1: They love it. It's supervolatile. They love to trade it 698 00:34:46,320 --> 00:34:49,200 Speaker 1: back and forth like a tech stock. But it's not 699 00:34:49,560 --> 00:34:52,440 Speaker 1: a tech stock, all right, It's not that it's trading 700 00:34:52,520 --> 00:34:54,960 Speaker 1: like that today. But that's not what it is. It 701 00:34:55,160 --> 00:34:58,400 Speaker 1: is a revolutionary technology that can fix this massive problem. 702 00:34:58,880 --> 00:35:02,200 Speaker 1: There's a mismatch perception of reality. There's also a mismatch 703 00:35:02,239 --> 00:35:04,200 Speaker 1: where central banks are going back to the relic of 704 00:35:04,320 --> 00:35:07,080 Speaker 1: gold thinking that can solve their problem. But it can't 705 00:35:07,200 --> 00:35:09,759 Speaker 1: because the problem is that we're an information age and 706 00:35:09,840 --> 00:35:11,600 Speaker 1: gold is a physical thing. I can't send it to 707 00:35:11,640 --> 00:35:14,000 Speaker 1: you over the Internet. And even if I make a 708 00:35:14,040 --> 00:35:17,160 Speaker 1: gold backed cryptocurrency or something like that, I would still 709 00:35:17,160 --> 00:35:19,239 Speaker 1: have the exact same problem, which is I have to 710 00:35:19,320 --> 00:35:23,239 Speaker 1: place trust in whoever has the ledger. Whoever has the 711 00:35:23,320 --> 00:35:25,640 Speaker 1: ledger can manipulate that data or steal it from me 712 00:35:25,880 --> 00:35:29,280 Speaker 1: at any time, just like the US did to Russia. 713 00:35:29,400 --> 00:35:32,480 Speaker 1: So you and I have the advantage of knowing this today. 714 00:35:33,280 --> 00:35:35,040 Speaker 1: You and I have the advantage of being an early 715 00:35:35,040 --> 00:35:38,040 Speaker 1: adopter and writing this out. You and I have the 716 00:35:38,080 --> 00:35:42,279 Speaker 1: advantage of getting in early because we spot the mismatch 717 00:35:42,560 --> 00:35:45,600 Speaker 1: of perception of reality both with the people, both with 718 00:35:45,640 --> 00:35:47,960 Speaker 1: Wall Street and with the sovereign nations around the world. 719 00:35:48,360 --> 00:35:49,600 Speaker 1: And we know that this is going to be a 720 00:35:49,640 --> 00:35:51,960 Speaker 1: long process. This isn't going to happen this year, but 721 00:35:52,160 --> 00:35:55,960 Speaker 1: it's directionally happening right now. If you're just tuning in, 722 00:35:55,960 --> 00:35:59,360 Speaker 1: you're listening to the Markmas Show talking about the decentralized Revolution, 723 00:35:59,560 --> 00:36:01,800 Speaker 1: how the world is changing, how the money is changing, 724 00:36:02,000 --> 00:36:03,759 Speaker 1: and how you need to look at things differently so 725 00:36:03,840 --> 00:36:05,720 Speaker 1: you can get in front of this thing and prosper 726 00:36:06,040 --> 00:36:08,839 Speaker 1: and have happiness. Hopefully you enjoyed that. Thanks so much 727 00:36:08,880 --> 00:36:09,320 Speaker 1: for listening.