1 00:00:00,120 --> 00:00:02,640 Speaker 1: Hello, and welcome back to the Mark Moss Show, where 2 00:00:02,680 --> 00:00:07,040 Speaker 1: we are always talking about the decentralized revolution, breaking it 3 00:00:07,080 --> 00:00:09,320 Speaker 1: down for you play by play so you can see 4 00:00:09,360 --> 00:00:12,479 Speaker 1: exactly how the world is changing, but not just see 5 00:00:12,480 --> 00:00:14,960 Speaker 1: how it's changing, but to understand it and make the 6 00:00:15,040 --> 00:00:18,520 Speaker 1: right decisions to prepare yourself and your family for what's 7 00:00:18,560 --> 00:00:21,079 Speaker 1: to come. If you haven't guessed it yet, This is 8 00:00:21,120 --> 00:00:23,640 Speaker 1: actually Cue, Mark's producer, and I'm filling in for Mark 9 00:00:23,680 --> 00:00:25,959 Speaker 1: for this hour. I'll be the one breaking down some 10 00:00:26,000 --> 00:00:28,160 Speaker 1: of the biggest news stories from around the world so 11 00:00:28,200 --> 00:00:31,080 Speaker 1: you can be better prepared. If you missed yesterday's show 12 00:00:31,080 --> 00:00:33,760 Speaker 1: with Mark, don't worry, We've got you covered. Be sure 13 00:00:33,760 --> 00:00:38,200 Speaker 1: to subscribe to the podcast on the iHeartRadio app, Apple Podcasts, Spotify, 14 00:00:38,440 --> 00:00:41,239 Speaker 1: or wherever you listen to podcasts. All our episodes are 15 00:00:41,240 --> 00:00:43,280 Speaker 1: available there, so you don't have to miss a thing. 16 00:00:43,760 --> 00:00:46,159 Speaker 1: Mark will be back tomorrow, so let's break down some 17 00:00:46,200 --> 00:00:49,160 Speaker 1: of these stories today. I'll be discussing the latest news 18 00:00:49,159 --> 00:00:51,880 Speaker 1: out of Eastern Europe and why food prices may be 19 00:00:52,000 --> 00:00:55,160 Speaker 1: going up again very soon, as well as the US 20 00:00:55,200 --> 00:00:58,280 Speaker 1: presidential candidate who just last week announced plans to back 21 00:00:58,320 --> 00:01:02,320 Speaker 1: t bills with gold seals and bitcoin. The G twenty 22 00:01:02,360 --> 00:01:05,200 Speaker 1: seems to be losing influence amongst its own members, and 23 00:01:05,240 --> 00:01:07,960 Speaker 1: of course China can't be bothered by anything a US 24 00:01:08,040 --> 00:01:10,760 Speaker 1: politician has to say to them. But let's dive right 25 00:01:10,760 --> 00:01:12,679 Speaker 1: into it now. The latest news out of Russia and 26 00:01:12,760 --> 00:01:15,240 Speaker 1: Ukraine is that Russia has pulled out of the Black 27 00:01:15,280 --> 00:01:18,520 Speaker 1: Sea grain deal. Now you may be asking, why is 28 00:01:18,600 --> 00:01:21,399 Speaker 1: this significant, what is the importance of this, and why 29 00:01:21,400 --> 00:01:24,880 Speaker 1: should I care? Well? Ukraine turns out is actually the 30 00:01:24,920 --> 00:01:28,920 Speaker 1: bread basket of the world, and specifically Europe. They produce 31 00:01:29,440 --> 00:01:32,959 Speaker 1: ten percent of the wheat and fifteen percent of the 32 00:01:33,080 --> 00:01:37,600 Speaker 1: corn that the entire world produces. In Europe, Ukraine is 33 00:01:37,600 --> 00:01:40,559 Speaker 1: actually the source to about forty percent of the wheat 34 00:01:40,560 --> 00:01:43,720 Speaker 1: imports and twenty percent of the corn imports. The end 35 00:01:43,800 --> 00:01:46,440 Speaker 1: of the Black Sea Grain deal could lead to shortages 36 00:01:46,480 --> 00:01:49,600 Speaker 1: of these crops in Europe and in turn higher prices. 37 00:01:50,120 --> 00:01:55,560 Speaker 1: So the entire war has disrupted Ukraine's grain exports. The 38 00:01:55,600 --> 00:01:58,120 Speaker 1: prices have been rising, Charlett play. In fact, the price 39 00:01:58,120 --> 00:02:00,600 Speaker 1: of wheat has increased by about fifty percent since the 40 00:02:00,600 --> 00:02:03,040 Speaker 1: war began, and the price of corn has increased by 41 00:02:03,040 --> 00:02:06,200 Speaker 1: about thirty percent since the war. Began. It goes even 42 00:02:06,200 --> 00:02:08,880 Speaker 1: further than that. In Europe, the price of a loaf 43 00:02:08,919 --> 00:02:12,040 Speaker 1: of bread has increased by about thirty percent since the 44 00:02:12,040 --> 00:02:14,880 Speaker 1: war started. Now, I know we talk a lot about 45 00:02:14,880 --> 00:02:17,560 Speaker 1: inflation in this show, and we talk a lot about 46 00:02:17,560 --> 00:02:20,520 Speaker 1: the monetary debasement that has been the root cause of inflation. 47 00:02:21,600 --> 00:02:25,560 Speaker 1: Yet we haven't heard a number like thirty percent thrown 48 00:02:25,600 --> 00:02:27,880 Speaker 1: out by any country, at least not in a developing nation. 49 00:02:28,440 --> 00:02:31,080 Speaker 1: We tend to hear. In America, it's been a peak 50 00:02:31,080 --> 00:02:33,560 Speaker 1: of nine percent. Most recently got a three percent. Read. 51 00:02:33,760 --> 00:02:36,360 Speaker 1: In Europe, they're still dealing with higher inflation, but it's 52 00:02:36,560 --> 00:02:39,480 Speaker 1: nowhere near thirty percent. But you and I know that 53 00:02:39,520 --> 00:02:42,720 Speaker 1: when we go to the grocery store, it's not five 54 00:02:42,800 --> 00:02:47,520 Speaker 1: percent inflation. It's fifty percent, forty percent. Anyone else Remember 55 00:02:47,560 --> 00:02:50,800 Speaker 1: when the price of eggs was skyrocketing. Well, here's another 56 00:02:50,919 --> 00:02:53,359 Speaker 1: thing that's not only just a random thing at the 57 00:02:53,400 --> 00:02:58,079 Speaker 1: grocery store, but it's bread. Bread and grain, which coincidentally 58 00:02:58,160 --> 00:03:01,680 Speaker 1: is actually one of the main collector resources for people 59 00:03:01,760 --> 00:03:05,320 Speaker 1: around the world. This is the main way people consume 60 00:03:05,480 --> 00:03:08,680 Speaker 1: calories is by eating different forms of grain. So if 61 00:03:08,720 --> 00:03:11,240 Speaker 1: you're going to see an increase in the price of grain. 62 00:03:11,720 --> 00:03:14,520 Speaker 1: People are going to suffer. And it as sad as 63 00:03:14,520 --> 00:03:17,119 Speaker 1: it is to say, it's not going to be in America, 64 00:03:17,160 --> 00:03:19,720 Speaker 1: and it might not be in Europe at first, It'll 65 00:03:19,760 --> 00:03:22,280 Speaker 1: be in developing nations that really feel this to start. 66 00:03:22,800 --> 00:03:24,440 Speaker 1: So I want to break down a little bit more 67 00:03:24,480 --> 00:03:28,440 Speaker 1: though about what this agreement actually entailed. So the agreement 68 00:03:28,480 --> 00:03:31,840 Speaker 1: allowed Ukraine to export grain through three black Sea ports. 69 00:03:31,880 --> 00:03:37,440 Speaker 1: And forgive my pronunciation of these Odessa for An, Morsk 70 00:03:37,680 --> 00:03:40,839 Speaker 1: and Pivot Denny the first one. I felt so good 71 00:03:40,880 --> 00:03:43,280 Speaker 1: after that, but I digress. These are the three ports 72 00:03:43,280 --> 00:03:46,200 Speaker 1: that essentially Ukraine was allowed to export their grain to 73 00:03:46,240 --> 00:03:47,840 Speaker 1: the rest of Europe and the rest of the world. 74 00:03:48,080 --> 00:03:51,360 Speaker 1: The agreement of question was actually brokeer very recently, and 75 00:03:51,440 --> 00:03:53,640 Speaker 1: it was done with the help of Turkey in the 76 00:03:53,760 --> 00:03:56,840 Speaker 1: United Nations, and it only came into effect late June, 77 00:03:57,000 --> 00:03:59,520 Speaker 1: like a month ago. So this isn't something that has 78 00:03:59,520 --> 00:04:03,000 Speaker 1: been in place from the beginning of the war. In fact, 79 00:04:02,440 --> 00:04:07,720 Speaker 1: the results of grain prices increasing from the war led 80 00:04:07,840 --> 00:04:12,160 Speaker 1: leaders to essentially say, hey, we need to create some 81 00:04:12,200 --> 00:04:15,480 Speaker 1: agreement at least for this for the transport and export 82 00:04:15,480 --> 00:04:20,920 Speaker 1: of grain because everyone is suffering. So The agreement, as 83 00:04:20,960 --> 00:04:23,960 Speaker 1: I mentioned, was designed to alleviate the global food crisis 84 00:04:24,000 --> 00:04:26,200 Speaker 1: that have been caused by the war in Ukraine. The 85 00:04:26,320 --> 00:04:28,120 Speaker 1: end of the Black Sea Grain Deal is likely to 86 00:04:28,240 --> 00:04:30,960 Speaker 1: lead to even higher food prices. This could have a 87 00:04:31,000 --> 00:04:34,119 Speaker 1: significant impact on food security in many parts of the world, 88 00:04:34,480 --> 00:04:38,000 Speaker 1: especially developing countries. Now I want to highlight that because 89 00:04:38,440 --> 00:04:42,960 Speaker 1: you know, in the US, even in China, different European countries, 90 00:04:43,279 --> 00:04:46,320 Speaker 1: they tend to have reserves. You hear it talked about 91 00:04:46,360 --> 00:04:49,279 Speaker 1: a lot. Oh, the US is tapping into its oil reserves. 92 00:04:49,320 --> 00:04:52,880 Speaker 1: They're selling their oil reserves in the market. We also 93 00:04:52,960 --> 00:04:56,200 Speaker 1: have grain reserves. We have wheat reserves. We have these 94 00:04:56,200 --> 00:04:59,120 Speaker 1: wheat reserves so that in the event of the global 95 00:04:59,120 --> 00:05:04,440 Speaker 1: food shortage, hey, no panic, We have months. Some countries 96 00:05:04,480 --> 00:05:07,680 Speaker 1: like China have years worth of grain stored up in 97 00:05:07,720 --> 00:05:11,839 Speaker 1: the event of something like this. Now that's for more 98 00:05:11,880 --> 00:05:15,920 Speaker 1: developed countries. Developing countries unfortunately don't have the infrastructure, are 99 00:05:15,960 --> 00:05:18,960 Speaker 1: not able to plan ahead. And the best example of 100 00:05:19,000 --> 00:05:21,880 Speaker 1: this that we actually saw last year was in Sri Lanka. 101 00:05:22,360 --> 00:05:24,120 Speaker 1: And a lot of the issues in Sri Lanka were 102 00:05:24,160 --> 00:05:27,520 Speaker 1: due in part because the IMF were instigating all of 103 00:05:27,560 --> 00:05:31,279 Speaker 1: these crazy green energy. You have to do this, you 104 00:05:31,360 --> 00:05:33,840 Speaker 1: have to do that, and of course no one else 105 00:05:33,880 --> 00:05:36,040 Speaker 1: in the IMF is listening to it, but they're forcing 106 00:05:36,120 --> 00:05:38,080 Speaker 1: Sri Lanka to do it. And then as a result, 107 00:05:38,440 --> 00:05:41,200 Speaker 1: they're not producing enough money and they can't go out 108 00:05:41,240 --> 00:05:44,279 Speaker 1: and buy the wheat that they need to import to 109 00:05:44,360 --> 00:05:46,840 Speaker 1: feed their citizens. And then of course if there's no 110 00:05:46,920 --> 00:05:48,960 Speaker 1: bread in the grocery store, there's no food to eat. 111 00:05:49,560 --> 00:05:52,760 Speaker 1: People get really upset. Was that old saying you're three 112 00:05:52,760 --> 00:05:57,600 Speaker 1: meals away from a revolution? So this is not something insignificant. 113 00:05:57,680 --> 00:06:01,039 Speaker 1: I want to just share with you essentially what a 114 00:06:01,120 --> 00:06:05,680 Speaker 1: Kremlin spokesman, Dmitri Peskov told journalists. He essentially said, this 115 00:06:05,720 --> 00:06:08,760 Speaker 1: has been halted until Russia's demands were met. Russia has 116 00:06:08,839 --> 00:06:10,520 Speaker 1: essentially been feeling as is that this is a little 117 00:06:10,520 --> 00:06:14,679 Speaker 1: too one sided, and essentially Ukraine has been provoking Russia 118 00:06:15,000 --> 00:06:18,279 Speaker 1: and attacking Russian civilian and military facilities in the Black 119 00:06:18,320 --> 00:06:21,279 Speaker 1: Sea area, and so that the United Nations and Ukraine's 120 00:06:21,279 --> 00:06:26,200 Speaker 1: western allies have not addressed Russian demands. Russia has repeatedly 121 00:06:26,240 --> 00:06:30,159 Speaker 1: accused Ukraine of violating the agreement by firing on Russian 122 00:06:30,200 --> 00:06:33,880 Speaker 1: ships and civilian vessels in the black Sea. Russia has 123 00:06:33,960 --> 00:06:38,080 Speaker 1: also demanded that Ukraine d mind waters around its ports, 124 00:06:38,240 --> 00:06:41,279 Speaker 1: which Ukraine has refused to do so. The end of 125 00:06:41,320 --> 00:06:43,839 Speaker 1: this agreement is likely to lead to higher global food 126 00:06:43,839 --> 00:06:47,400 Speaker 1: prices and could worsen the global food crisis, meaning that 127 00:06:47,600 --> 00:06:50,120 Speaker 1: families are going to have to spend more money just 128 00:06:50,160 --> 00:06:52,960 Speaker 1: to put food on the table for their families. It's 129 00:06:53,000 --> 00:06:56,440 Speaker 1: going to be really hard, especially if you're saving in fiat, 130 00:06:56,720 --> 00:06:59,599 Speaker 1: especially if you're saving in currencies that are being in 131 00:06:59,680 --> 00:07:03,360 Speaker 1: flat away on top of the fact that prices are increasing. 132 00:07:03,640 --> 00:07:05,359 Speaker 1: We have a lot more to talk about, so be 133 00:07:05,400 --> 00:07:07,680 Speaker 1: sure to stick around through the commercial break. We're going 134 00:07:07,720 --> 00:07:09,560 Speaker 1: to be breaking down some news out of the rest 135 00:07:09,600 --> 00:07:11,800 Speaker 1: of the world, so be sure to stick around. We'll 136 00:07:11,840 --> 00:07:17,040 Speaker 1: be back after this. Hello, and welcome back to the 137 00:07:17,040 --> 00:07:20,480 Speaker 1: Mark Moss Show, where we talk about the decentralized revolution. 138 00:07:20,880 --> 00:07:23,440 Speaker 1: We're running through some of the latest breaking news stories 139 00:07:23,440 --> 00:07:25,800 Speaker 1: from around the world. My name is qu and I'm 140 00:07:25,800 --> 00:07:27,840 Speaker 1: filling in for Mark for this hour. If you missed 141 00:07:27,840 --> 00:07:29,720 Speaker 1: our last segment, be sure to check out the full 142 00:07:29,760 --> 00:07:33,280 Speaker 1: episode available on every podcast platform just search for the 143 00:07:33,320 --> 00:07:37,240 Speaker 1: Mark Moss Show. Now. We always like to look at 144 00:07:37,240 --> 00:07:40,200 Speaker 1: the world through the lens of politics, finance, and technology, 145 00:07:40,520 --> 00:07:43,440 Speaker 1: And one of my favorite topics to discuss is whenever 146 00:07:43,480 --> 00:07:47,160 Speaker 1: these three intersect and bitcoin continues to find itself at 147 00:07:47,160 --> 00:07:50,480 Speaker 1: this intersection. It seems as though bitcoin's picking up a 148 00:07:50,560 --> 00:07:53,840 Speaker 1: lot of steam in the political realm. There are three 149 00:07:53,880 --> 00:07:58,040 Speaker 1: presidential candidates who are pro bitcoin. You have another one 150 00:07:58,120 --> 00:08:03,920 Speaker 1: who is vehemently again cbdc's so four total against cbdc's which, 151 00:08:04,240 --> 00:08:07,400 Speaker 1: by the way, breaking news as of today, FED now 152 00:08:07,440 --> 00:08:11,960 Speaker 1: has officially launched. This is the Federal Reserves Plan CBDC rollout. 153 00:08:12,320 --> 00:08:14,520 Speaker 1: This is just now breaking, so we will see as 154 00:08:14,560 --> 00:08:16,880 Speaker 1: it develops, and we'll have Mark reporting on this more 155 00:08:17,000 --> 00:08:19,680 Speaker 1: next week, but for now to be aware. But the 156 00:08:19,720 --> 00:08:23,440 Speaker 1: big story for this week is actually RFK Junior. Now 157 00:08:23,600 --> 00:08:27,160 Speaker 1: RFK Junior announced his plans to back the dollar with bitcoin. 158 00:08:27,160 --> 00:08:28,880 Speaker 1: But I'm gonna read some of his quotes from his 159 00:08:28,960 --> 00:08:32,719 Speaker 1: speech and then we're going to dive into is this realistic? 160 00:08:32,840 --> 00:08:35,520 Speaker 1: Is this possible? And I'm gonna pull up a historical 161 00:08:35,559 --> 00:08:38,800 Speaker 1: example and show you what happened the last time someone 162 00:08:38,800 --> 00:08:42,600 Speaker 1: tried to do this. So RFK my plan would be 163 00:08:42,640 --> 00:08:46,200 Speaker 1: to start very very small, perhaps one percent of issue 164 00:08:46,240 --> 00:08:50,760 Speaker 1: T bills would be backed by hard currency, by gold, silver, platinum, 165 00:08:50,840 --> 00:08:54,719 Speaker 1: or bitcoin. Kennedy said, backing dollars in the US debt 166 00:08:54,760 --> 00:08:58,080 Speaker 1: obligations with hard assets could help restore strength back to 167 00:08:58,120 --> 00:09:01,600 Speaker 1: the dollar, rain in and and usher in an era 168 00:09:01,760 --> 00:09:07,839 Speaker 1: of American financial stability, peace and prosperity. Now I want 169 00:09:07,880 --> 00:09:11,400 Speaker 1: to unpack that last part, specifically the ushering in the 170 00:09:11,400 --> 00:09:15,079 Speaker 1: new era of American peace. Now I want to share 171 00:09:15,160 --> 00:09:18,400 Speaker 1: two more quotes from RFK Junior, and then I want 172 00:09:18,400 --> 00:09:22,600 Speaker 1: to share a paragraph that provides some historical context of 173 00:09:22,880 --> 00:09:27,760 Speaker 1: what exactly is going on. So, my uncle President Kennedy, 174 00:09:27,840 --> 00:09:30,319 Speaker 1: when he was in office, understood the importance of hard 175 00:09:30,360 --> 00:09:34,400 Speaker 1: currency and the dangers of having pure FIAC currency with 176 00:09:34,600 --> 00:09:39,240 Speaker 1: no other option. He understood the relationship between fiat currency 177 00:09:39,760 --> 00:09:44,840 Speaker 1: and war. FIAC currency was invented to fund wars. You 178 00:09:44,880 --> 00:09:47,199 Speaker 1: can't just print money to fund wars and tax the 179 00:09:47,240 --> 00:09:50,240 Speaker 1: public through the hidden tax of inflation. You actually have 180 00:09:50,320 --> 00:09:52,520 Speaker 1: to go to the public and say here's what this 181 00:09:52,559 --> 00:09:54,880 Speaker 1: war is going to cost if you are on a 182 00:09:55,080 --> 00:09:59,800 Speaker 1: sound money system. Now, I'm going to read a paragraph 183 00:10:00,200 --> 00:10:05,000 Speaker 1: from my favorite book, bitcoin book, The Bitcoin Standard by 184 00:10:05,040 --> 00:10:07,920 Speaker 1: Safety in a mouse for any other bitcoiners out there. 185 00:10:07,960 --> 00:10:11,800 Speaker 1: If you've read it. You may remember this passage in passing, 186 00:10:12,640 --> 00:10:15,080 Speaker 1: but the paragraph I'm reading is in reference to World 187 00:10:15,160 --> 00:10:20,240 Speaker 1: War One. With the simple suspension of gold redeemability, government's 188 00:10:20,280 --> 00:10:23,160 Speaker 1: war efforts were no longer limited to the money that 189 00:10:23,200 --> 00:10:26,640 Speaker 1: they had in their own treasuries, but extended virtually to 190 00:10:26,720 --> 00:10:30,360 Speaker 1: the entire wealth of the population. For as long as 191 00:10:30,400 --> 00:10:32,760 Speaker 1: the government could print more money and have that money 192 00:10:32,760 --> 00:10:36,160 Speaker 1: accepted by its citizens and foreigners, it could keep financing 193 00:10:36,160 --> 00:10:40,120 Speaker 1: the war. Previously, under a monetary system where gold is 194 00:10:40,160 --> 00:10:42,760 Speaker 1: money was in the hands of the people, government only 195 00:10:42,800 --> 00:10:46,200 Speaker 1: had its own treasuries to sustain its war effort, along 196 00:10:46,200 --> 00:10:49,440 Speaker 1: with any taxation or bond issues to finance the war. 197 00:10:50,920 --> 00:10:53,640 Speaker 1: This made conflict limited and lay at the heart of 198 00:10:53,679 --> 00:10:56,559 Speaker 1: the relatively long periods of peace experience around the world 199 00:10:56,880 --> 00:11:00,760 Speaker 1: before the twentieth century. So this is alluding to the 200 00:11:00,800 --> 00:11:04,480 Speaker 1: fact that you know, these forever wars that we continue 201 00:11:04,520 --> 00:11:08,840 Speaker 1: to find ourselves in pretty much since World War Two, Well, 202 00:11:09,400 --> 00:11:12,840 Speaker 1: they're due directly to the fact that we don't have 203 00:11:12,880 --> 00:11:17,840 Speaker 1: a sound money system. And the really scary part is 204 00:11:17,920 --> 00:11:21,280 Speaker 1: most of these countries, it's not just Germany went off 205 00:11:21,320 --> 00:11:24,440 Speaker 1: the gold standard, it was the UK went off the 206 00:11:24,440 --> 00:11:26,800 Speaker 1: gold standard. It was France went off the gold standard, 207 00:11:26,840 --> 00:11:32,840 Speaker 1: it was Italy. Every country involved essentially said hey, I 208 00:11:32,880 --> 00:11:35,559 Speaker 1: don't want to be the one to say, hey, I'm 209 00:11:35,600 --> 00:11:37,680 Speaker 1: out of money, I'm backing out of this war. It 210 00:11:37,720 --> 00:11:41,280 Speaker 1: was like a giant game of Chicken. So what happens though, 211 00:11:41,280 --> 00:11:44,160 Speaker 1: on the other side of the war, Well, all of 212 00:11:44,200 --> 00:11:48,520 Speaker 1: these countries, including Germany, which we know what happens plus 213 00:11:48,559 --> 00:11:51,360 Speaker 1: World War One to their currency, but also the UK, 214 00:11:52,160 --> 00:11:53,760 Speaker 1: they all decide we're going to go back to the 215 00:11:53,800 --> 00:11:58,960 Speaker 1: gold standard. But you have just printed more money and 216 00:11:59,000 --> 00:12:03,599 Speaker 1: put more money into and that are trying to repegg it, 217 00:12:03,720 --> 00:12:06,840 Speaker 1: saying hey, it's worth the same as it was before 218 00:12:06,920 --> 00:12:12,200 Speaker 1: we printed ten times more fiat currency that now is 219 00:12:12,200 --> 00:12:16,520 Speaker 1: in circulation. And as I mentioned, like the Wimar Republic 220 00:12:16,720 --> 00:12:20,319 Speaker 1: is famous for their hyperinflation. I will never forget being 221 00:12:20,320 --> 00:12:23,280 Speaker 1: told the stories of you had to go with a 222 00:12:23,320 --> 00:12:27,360 Speaker 1: wheelbarrel full of cash, hard cash to buy a gallon 223 00:12:27,360 --> 00:12:30,839 Speaker 1: of milk. That's a scary proposition, to say the least. 224 00:12:31,920 --> 00:12:34,960 Speaker 1: But the idea that we will just return to a 225 00:12:35,000 --> 00:12:38,880 Speaker 1: gold standard, I think it's a little naive. The thing 226 00:12:38,920 --> 00:12:41,520 Speaker 1: that I do like about RFK Junior's plan is it's 227 00:12:41,520 --> 00:12:43,800 Speaker 1: not a I'm just gonna jam this down. We're gonna 228 00:12:43,840 --> 00:12:46,560 Speaker 1: do it all the dollars. No, in fact, it's it's 229 00:12:46,600 --> 00:12:50,240 Speaker 1: going to be just ta bills, and it's gonna be 230 00:12:50,360 --> 00:12:53,920 Speaker 1: a small amount of let's see if this works. Well, 231 00:12:54,480 --> 00:12:58,200 Speaker 1: let me tell you something. It might work and it 232 00:12:58,320 --> 00:13:03,480 Speaker 1: might not. But the idea that this is something that 233 00:13:03,520 --> 00:13:06,040 Speaker 1: we want to propose, this is something we want to explore. 234 00:13:06,480 --> 00:13:08,360 Speaker 1: That's where the value is, at least right now, at 235 00:13:08,440 --> 00:13:11,720 Speaker 1: least today. We've seen it time and time again during 236 00:13:11,720 --> 00:13:16,160 Speaker 1: these presidential elections, where a candidate who may not necessarily win, 237 00:13:16,679 --> 00:13:19,640 Speaker 1: continues to pound the drum on a topic, on an idea, 238 00:13:20,120 --> 00:13:22,959 Speaker 1: so that topic and idea will continue to be discussed 239 00:13:23,360 --> 00:13:28,920 Speaker 1: long after this candidate is no longer campaigning. Now, whatever 240 00:13:28,960 --> 00:13:31,920 Speaker 1: side of the aisle you sit on is irrelevant. Whether 241 00:13:31,960 --> 00:13:35,280 Speaker 1: you agree with RFKJ and your stance or not is irrelevant. 242 00:13:35,480 --> 00:13:37,960 Speaker 1: I think it's important to recognize that a lot of 243 00:13:37,960 --> 00:13:41,160 Speaker 1: the financial decisions that we find ourselves in are a 244 00:13:41,200 --> 00:13:43,440 Speaker 1: direct result of the fact that we just have this 245 00:13:43,640 --> 00:13:49,600 Speaker 1: excessive money printing and just spout pouring money everywhere. Whenever 246 00:13:49,720 --> 00:13:52,560 Speaker 1: the powers that we decide, oh, we should go do this, 247 00:13:52,600 --> 00:13:56,160 Speaker 1: so we're just going to fund it accordingly. This will 248 00:13:56,200 --> 00:14:01,120 Speaker 1: slowly help to reaffirm the actual incentives of government and 249 00:14:01,240 --> 00:14:05,440 Speaker 1: have them explain why they're spending money where they're spending 250 00:14:05,440 --> 00:14:09,200 Speaker 1: money on, and we can start to have a better 251 00:14:09,360 --> 00:14:13,800 Speaker 1: voice as a result. Time will tell to say the least. 252 00:14:13,840 --> 00:14:16,560 Speaker 1: But another thing, again, it would be a disservice to 253 00:14:16,600 --> 00:14:20,360 Speaker 1: not highlight and discuss this. Kennedy also announced that his 254 00:14:20,680 --> 00:14:25,440 Speaker 1: administration will exempt the conversation of bitcoin to the US 255 00:14:25,480 --> 00:14:29,320 Speaker 1: dollar from capital gains taxes, i e. If you sell 256 00:14:29,320 --> 00:14:31,600 Speaker 1: your bitcoin for a gain, you will not be taxed 257 00:14:31,640 --> 00:14:35,880 Speaker 1: on that gain. This is as close to becoming legal 258 00:14:35,960 --> 00:14:38,120 Speaker 1: tender in the country as you can be, with the 259 00:14:38,160 --> 00:14:40,200 Speaker 1: exception of you're not gonna be able to go to 260 00:14:40,280 --> 00:14:44,520 Speaker 1: the grocery store to buy stuff with bitcoin, but theoretically 261 00:14:44,520 --> 00:14:46,680 Speaker 1: you'll be able to sell your bitcoin and take that 262 00:14:46,800 --> 00:14:51,280 Speaker 1: money and immediately use it towards purchasing your groceries without 263 00:14:51,840 --> 00:14:55,840 Speaker 1: having to worry about the tax implications of doing so. 264 00:14:55,920 --> 00:14:58,640 Speaker 1: Look the largest country in the world that has done this, 265 00:14:58,720 --> 00:15:02,280 Speaker 1: El Salvador, has seen a dramatic rise in tourism, has 266 00:15:02,280 --> 00:15:05,400 Speaker 1: seen an increase in GDP, has also seen an increase 267 00:15:05,440 --> 00:15:10,200 Speaker 1: in investments and companies either being formed in El Salvador 268 00:15:10,880 --> 00:15:13,840 Speaker 1: or deciding, hey, we want to offer our product or 269 00:15:13,920 --> 00:15:18,840 Speaker 1: service in El Salvador as well. So, look, this is 270 00:15:18,920 --> 00:15:21,760 Speaker 1: all really exciting stuff. I think a lot of bitcoiners 271 00:15:21,840 --> 00:15:24,960 Speaker 1: are euphoric over this, that a candidate is coming out 272 00:15:24,960 --> 00:15:28,640 Speaker 1: there and saying these things. I will caveat all of this, 273 00:15:29,840 --> 00:15:32,480 Speaker 1: all of this if you are familiar with me, my beliefs, 274 00:15:32,520 --> 00:15:35,760 Speaker 1: and what I say when it comes to the political realm. 275 00:15:36,760 --> 00:15:39,080 Speaker 1: I'll keep it short and simple. I'll believe it when 276 00:15:39,080 --> 00:15:43,600 Speaker 1: I see it. And I've been following Garfki Junior very closely. 277 00:15:45,200 --> 00:15:48,880 Speaker 1: He talks about bitcoin when he has that audience, but 278 00:15:48,960 --> 00:15:53,680 Speaker 1: when he's not talking to a bitcoin audience, he doesn't 279 00:15:53,680 --> 00:15:57,520 Speaker 1: talk about bitcoin. Now he's catering to his audience. He's 280 00:15:57,520 --> 00:16:02,560 Speaker 1: catering to get votes. Just begs the question of can 281 00:16:02,680 --> 00:16:06,560 Speaker 1: this plan be implemented and will he follow through? Time 282 00:16:06,600 --> 00:16:08,800 Speaker 1: will tell and we will see what other candidate's responses 283 00:16:08,840 --> 00:16:11,080 Speaker 1: are as a result of this. We have a lot 284 00:16:11,080 --> 00:16:13,120 Speaker 1: more to talk about, so be sure to stick around. 285 00:16:13,320 --> 00:16:15,240 Speaker 1: Through the commercial break, We're going to be breaking down 286 00:16:15,240 --> 00:16:17,280 Speaker 1: some news out of the rest of the world, so 287 00:16:17,360 --> 00:16:21,240 Speaker 1: be sure to stick around. We'll be back after this. Hello, 288 00:16:21,360 --> 00:16:23,560 Speaker 1: and welcome back to The Mark Moss Show, where we 289 00:16:23,600 --> 00:16:26,920 Speaker 1: talk about the decentralized revolution, running through some of the 290 00:16:27,000 --> 00:16:30,440 Speaker 1: latest breaking news stories from around the world. My name 291 00:16:30,480 --> 00:16:32,320 Speaker 1: is qu and I'm feeling in for Mark this week. 292 00:16:32,560 --> 00:16:34,560 Speaker 1: If you missed our last segment, be sure to check 293 00:16:34,560 --> 00:16:38,200 Speaker 1: out the full episode available on every podcast platform just 294 00:16:38,280 --> 00:16:41,960 Speaker 1: search for the Mark Moss Show. Now, we like to 295 00:16:42,040 --> 00:16:44,200 Speaker 1: look at the world through the lens of politics, finance, 296 00:16:44,240 --> 00:16:47,120 Speaker 1: and technology. For this segment, I'm going to focus on 297 00:16:47,160 --> 00:16:49,680 Speaker 1: two of those, the intersection of politics and finance, and 298 00:16:49,680 --> 00:16:52,040 Speaker 1: we're going to go back to the global stage and 299 00:16:52,080 --> 00:16:56,440 Speaker 1: discuss the waning influence of the G twenty. Now, we 300 00:16:56,560 --> 00:16:59,640 Speaker 1: got to understand first how the G twenty even sort 301 00:16:59,680 --> 00:17:02,080 Speaker 1: of came to be, and it was founded in nineteen 302 00:17:02,160 --> 00:17:05,480 Speaker 1: ninety nine by the finance ministers and central bank governors 303 00:17:05,680 --> 00:17:08,800 Speaker 1: of nineteen countries. So a bunch of central bankers decided 304 00:17:08,840 --> 00:17:12,760 Speaker 1: to get together and essentially said that we're gonna, you know, 305 00:17:13,560 --> 00:17:17,439 Speaker 1: discuss economic and financial issues and make sure that you 306 00:17:17,440 --> 00:17:19,840 Speaker 1: know the world is going in the right direction. In fact, 307 00:17:20,640 --> 00:17:24,800 Speaker 1: one of the sort of check marks positive things about 308 00:17:24,840 --> 00:17:27,240 Speaker 1: the G twenty during the time that I was researching 309 00:17:27,240 --> 00:17:30,760 Speaker 1: this was that they are credited with helping stabilize the 310 00:17:30,800 --> 00:17:34,680 Speaker 1: global financial system during the two thousand and eight financial crisis. 311 00:17:36,600 --> 00:17:40,320 Speaker 1: But this is a group of central bankers, and I 312 00:17:40,400 --> 00:17:42,520 Speaker 1: think most of us have come to realize that it 313 00:17:42,560 --> 00:17:46,520 Speaker 1: was the central bankers who caused the two thousand and 314 00:17:46,520 --> 00:17:52,320 Speaker 1: eight financial crisis. So you're telling me these guys solved 315 00:17:52,400 --> 00:17:56,040 Speaker 1: the problem they created, or in other words, they did 316 00:17:56,080 --> 00:18:00,760 Speaker 1: the bare minimum. That's the selling point here did one 317 00:18:00,880 --> 00:18:05,000 Speaker 1: thing right? The other really interesting point, and I just 318 00:18:05,160 --> 00:18:08,280 Speaker 1: I can't help but laugh every time I even think 319 00:18:08,280 --> 00:18:12,280 Speaker 1: about it. They meet once a year, all right, that's it. 320 00:18:12,280 --> 00:18:15,160 Speaker 1: It's not like a quarterly once a year to discuss 321 00:18:15,200 --> 00:18:20,240 Speaker 1: economic and financial issues. This year, however, you had a 322 00:18:20,359 --> 00:18:24,240 Speaker 1: significant number of countries either opt out, they didn't send 323 00:18:24,240 --> 00:18:28,280 Speaker 1: a single finance minister, or they sent someone junior who 324 00:18:28,280 --> 00:18:31,119 Speaker 1: doesn't have the authority to make decisions on behalf of 325 00:18:31,160 --> 00:18:34,080 Speaker 1: their country. So you essentially had a bunch of countries 326 00:18:34,080 --> 00:18:36,720 Speaker 1: in the G twenty show up to them annual meeting 327 00:18:37,359 --> 00:18:39,960 Speaker 1: and just phone it in. On top of the fact that, 328 00:18:40,240 --> 00:18:42,360 Speaker 1: by the way, the countries that didn't show up the 329 00:18:42,480 --> 00:18:46,159 Speaker 1: UK and Germany, so It wasn't as though it was 330 00:18:46,160 --> 00:18:49,240 Speaker 1: like some random offshoot. It wasn't a country in Africa 331 00:18:49,440 --> 00:18:52,040 Speaker 1: or a smaller country in Asia. No, it was UK, 332 00:18:52,160 --> 00:18:55,560 Speaker 1: one of the global leaders of the financial system, and Germany, 333 00:18:55,680 --> 00:18:58,840 Speaker 1: another global leader, both essentially saying like, hey, we got 334 00:18:58,880 --> 00:19:01,760 Speaker 1: too many problems to deal with at home, and that's 335 00:19:01,800 --> 00:19:04,520 Speaker 1: going to that's the priority right now. And then on 336 00:19:04,560 --> 00:19:07,960 Speaker 1: top of that, the country that sent in junior members 337 00:19:08,600 --> 00:19:11,160 Speaker 1: Argentina and Brazil, France, Mexico, also dealing with a lot 338 00:19:11,160 --> 00:19:14,879 Speaker 1: of domestic issues right now, they also just simply said, hey, like, 339 00:19:15,600 --> 00:19:17,640 Speaker 1: we can't whatever you guys want to do, we can't 340 00:19:17,680 --> 00:19:19,600 Speaker 1: deal with that. We got bigger issues. We got bigger 341 00:19:19,640 --> 00:19:22,119 Speaker 1: fish to fry at home, and that's going to be 342 00:19:23,119 --> 00:19:26,480 Speaker 1: the priority now. The G twenty, while being. 343 00:19:26,359 --> 00:19:29,160 Speaker 2: Credited with, oh, they saved us in the two thousand 344 00:19:29,160 --> 00:19:34,520 Speaker 2: and financial crisis, which again central bankers were fundamental in 345 00:19:35,119 --> 00:19:39,600 Speaker 2: causing the two thousand and eight financial crisis, So yay, 346 00:19:40,040 --> 00:19:42,440 Speaker 2: thank you so much for fixing the problem you started, 347 00:19:43,200 --> 00:19:46,440 Speaker 2: they've also been criticized for a lack of transparency and accountability. 348 00:19:46,560 --> 00:19:49,280 Speaker 2: Oh there's that word accountability, you know, the thing where 349 00:19:49,280 --> 00:19:52,399 Speaker 2: if you mess something up you're supposed to own it, 350 00:19:52,640 --> 00:19:55,800 Speaker 2: fix it, and learn from your mistakes so you don't 351 00:19:55,800 --> 00:19:56,800 Speaker 2: make that mistake again. 352 00:19:58,400 --> 00:20:01,199 Speaker 1: None of that here, right, Absolutely none of that for 353 00:20:01,240 --> 00:20:04,919 Speaker 1: a bunch of politicians. The group has also been accused 354 00:20:04,920 --> 00:20:07,880 Speaker 1: of being dominated by the interests of the G seven countries. 355 00:20:08,119 --> 00:20:12,640 Speaker 1: Now that is really important, and that is really important. 356 00:20:12,680 --> 00:20:15,200 Speaker 1: Why well, we talked about this a few weeks ago now, 357 00:20:15,800 --> 00:20:18,480 Speaker 1: but the GDP of the G seven countries, for the 358 00:20:18,520 --> 00:20:23,000 Speaker 1: first time ever, has actually crossed below the GDP of 359 00:20:23,040 --> 00:20:25,960 Speaker 1: the Bricks countries. And you know, there's been a lot 360 00:20:26,000 --> 00:20:29,840 Speaker 1: of speculation on this show and pretty much any news 361 00:20:29,920 --> 00:20:33,240 Speaker 1: program that's been discussing this that does this spell the 362 00:20:33,400 --> 00:20:35,560 Speaker 1: end for the G seven? Does this spell the end 363 00:20:35,600 --> 00:20:38,040 Speaker 1: for the US dollar? You have the Bricks countries that 364 00:20:38,080 --> 00:20:41,480 Speaker 1: actually are getting together next week on the docket over there, 365 00:20:41,560 --> 00:20:44,639 Speaker 1: they're discussing impossible new global currency that's going to be 366 00:20:44,680 --> 00:20:48,440 Speaker 1: backed by the gold. There is a significant power shift 367 00:20:48,920 --> 00:20:52,400 Speaker 1: that is happening in the world, and it's happening very 368 00:20:52,480 --> 00:20:56,640 Speaker 1: quietly and very subtly. And I say subtly because it's 369 00:20:56,640 --> 00:20:59,200 Speaker 1: not as though the G twenty countries didn't meet. It's 370 00:20:59,280 --> 00:21:03,159 Speaker 1: not as though nothing got solved by them. It is 371 00:21:03,200 --> 00:21:06,760 Speaker 1: worth noting last month Zambia, they helped Zambia strike a 372 00:21:06,800 --> 00:21:09,960 Speaker 1: deal to restructure six point three billion dollars in debt 373 00:21:10,160 --> 00:21:13,920 Speaker 1: ode to government's brought Could you imagine that the US 374 00:21:13,960 --> 00:21:16,199 Speaker 1: had only six point three billion dollars of debt that 375 00:21:16,200 --> 00:21:20,600 Speaker 1: they owed. Oh man, now we have thirty some odd 376 00:21:20,760 --> 00:21:25,679 Speaker 1: trillion dollars of debt that we owe. So needless to say, 377 00:21:25,920 --> 00:21:28,320 Speaker 1: the US has been and much of the G seven 378 00:21:28,320 --> 00:21:31,280 Speaker 1: countries have been using this almost as a platform to 379 00:21:31,359 --> 00:21:37,639 Speaker 1: instill monetary policies that benefit them. But we're at a 380 00:21:37,680 --> 00:21:42,439 Speaker 1: point now where people are realizing they don't need to 381 00:21:42,560 --> 00:21:47,080 Speaker 1: listen to the US. The B and BRICKS stands for Brazil, 382 00:21:47,119 --> 00:21:48,800 Speaker 1: and Brazil is a part of the G twenty and 383 00:21:48,840 --> 00:21:51,440 Speaker 1: Brazil was also one of the countries that only sent 384 00:21:51,480 --> 00:21:55,480 Speaker 1: a junior member to the G twenty summit. I'll be 385 00:21:55,520 --> 00:21:58,960 Speaker 1: really interested to see who Brazil sends to Bricks, because 386 00:21:59,040 --> 00:22:02,800 Speaker 1: that right there will seal the deal. If Brazil ends 387 00:22:02,880 --> 00:22:05,440 Speaker 1: up sending their senior finance minister, if they send over 388 00:22:05,840 --> 00:22:09,439 Speaker 1: significant people within their government who have the authority to 389 00:22:09,480 --> 00:22:13,640 Speaker 1: make decisions, I read that loud and clear. We don't 390 00:22:13,720 --> 00:22:15,560 Speaker 1: really care what the G twenty has to say, but 391 00:22:15,600 --> 00:22:19,560 Speaker 1: we will listen and hear to what the bricks countries 392 00:22:19,640 --> 00:22:24,199 Speaker 1: have to say. And that is again we continue to 393 00:22:24,280 --> 00:22:28,359 Speaker 1: talk about the waning influence of America and the waning 394 00:22:28,400 --> 00:22:33,960 Speaker 1: influence of sort of these elite powers that while we 395 00:22:34,000 --> 00:22:36,320 Speaker 1: in the developed countries continue to hear stories out of 396 00:22:36,359 --> 00:22:39,920 Speaker 1: Great Britain, out of France of course our domestic issues, 397 00:22:40,119 --> 00:22:41,800 Speaker 1: the rest of the world just doesn't care what we 398 00:22:41,880 --> 00:22:43,880 Speaker 1: have to say. The rest of the world is starting 399 00:22:43,920 --> 00:22:47,440 Speaker 1: to recognize, like, hey, the policy decisions made by these 400 00:22:47,480 --> 00:22:51,040 Speaker 1: countries are the reason why we are dealing with the 401 00:22:51,080 --> 00:22:55,199 Speaker 1: issues that we are dealing with now. So it's just 402 00:22:55,600 --> 00:22:59,960 Speaker 1: it is very telling that if one of the concerns 403 00:23:00,200 --> 00:23:02,160 Speaker 1: that's been brought up about the G twenty is, hey, 404 00:23:02,200 --> 00:23:06,119 Speaker 1: you guys seem to just stack the deck for seven 405 00:23:06,160 --> 00:23:08,560 Speaker 1: of the twenty members and then just start to tell 406 00:23:08,600 --> 00:23:11,199 Speaker 1: everyone else like yeah, yeah, figure it out. But we 407 00:23:11,280 --> 00:23:14,280 Speaker 1: need to do these things for it's to help the world. 408 00:23:14,600 --> 00:23:18,959 Speaker 1: We're gonna help the world by helping these countries. Now, 409 00:23:19,880 --> 00:23:22,360 Speaker 1: there are some other reasons why the G twenties influence 410 00:23:22,359 --> 00:23:25,760 Speaker 1: has declined. You see a rise of new economic powers 411 00:23:25,760 --> 00:23:28,879 Speaker 1: such as China and India, which is they've challenged the 412 00:23:28,920 --> 00:23:32,280 Speaker 1: traditional dominance of the G seven countries. We talked about 413 00:23:32,320 --> 00:23:37,040 Speaker 1: the b and Bricks c's China, I as India, might 414 00:23:37,040 --> 00:23:40,359 Speaker 1: as well just mention the r as Russia. Russia has 415 00:23:40,480 --> 00:23:44,280 Speaker 1: essentially had there all of the US dollars that they have, 416 00:23:44,640 --> 00:23:48,159 Speaker 1: all the US debt that they've been holding through the 417 00:23:48,200 --> 00:23:52,960 Speaker 1: sanctions based on Russia's invasion to Ukraine. We have weaponized 418 00:23:53,080 --> 00:23:55,239 Speaker 1: that money and as a result, Russia is looking at 419 00:23:55,240 --> 00:23:58,760 Speaker 1: it saying, okay, so what's the point if we do 420 00:23:58,800 --> 00:24:01,560 Speaker 1: something that the US doesn't like. They're just going to 421 00:24:01,640 --> 00:24:04,600 Speaker 1: save your money, the money that you've been saving in dollars. 422 00:24:05,760 --> 00:24:07,480 Speaker 1: We're going to prevent that from being spent. We're going 423 00:24:07,560 --> 00:24:14,040 Speaker 1: to prevent that from going to the world. So Brazil, Russia, India, China. 424 00:24:14,240 --> 00:24:16,879 Speaker 1: The last country in the Brick's acronym is South Africa. 425 00:24:17,280 --> 00:24:18,920 Speaker 1: I guess the only way I can close the loop 426 00:24:18,960 --> 00:24:20,920 Speaker 1: there is just point out that the bricks countries are 427 00:24:20,920 --> 00:24:23,960 Speaker 1: meeting in Johannesburg next week. So Boom covered all the 428 00:24:23,960 --> 00:24:27,399 Speaker 1: bricks countries on that. But let's continue as to the 429 00:24:27,440 --> 00:24:31,840 Speaker 1: reasons why G twenty's influence has declined, growing polarization of 430 00:24:31,880 --> 00:24:35,160 Speaker 1: the G twenty, with countries increasingly divided on issues such 431 00:24:35,160 --> 00:24:38,119 Speaker 1: as issues such as trade and climate change. And I 432 00:24:38,119 --> 00:24:40,919 Speaker 1: think the climate change one is really important. We're going 433 00:24:40,960 --> 00:24:42,639 Speaker 1: to talk about a little bit in the next segment 434 00:24:42,640 --> 00:24:45,480 Speaker 1: when I talk about China. But there seems to be 435 00:24:45,560 --> 00:24:51,400 Speaker 1: this sort of policy regulatory moat almost where these countries 436 00:24:51,400 --> 00:24:54,480 Speaker 1: that have established their economies, like the US, are turning 437 00:24:54,480 --> 00:24:56,840 Speaker 1: around and telling other countries that are developing that are 438 00:24:56,880 --> 00:25:00,399 Speaker 1: trying to grow their economies, Hey, you should do that 439 00:25:00,440 --> 00:25:04,200 Speaker 1: because it's bad for the environment. Yeah, but aren't you No. 440 00:25:04,040 --> 00:25:04,600 Speaker 2: No, no, no, no no. 441 00:25:05,040 --> 00:25:07,400 Speaker 1: Don't worry about what we do in our country. Don't 442 00:25:07,440 --> 00:25:09,920 Speaker 1: worry about the pollution that we put forward, don't worry 443 00:25:09,960 --> 00:25:12,000 Speaker 1: about the way that we care about the abount You 444 00:25:12,080 --> 00:25:14,000 Speaker 1: need to do better than us. You need to care 445 00:25:14,000 --> 00:25:16,320 Speaker 1: about the environment more. I'm sorry, but that's just a 446 00:25:16,359 --> 00:25:18,920 Speaker 1: load of bs. But we have a lot more to 447 00:25:18,960 --> 00:25:22,040 Speaker 1: talk about. We're gonna be talking in depth about China 448 00:25:22,119 --> 00:25:24,440 Speaker 1: after this commercial break, so you're not gonna want to 449 00:25:24,480 --> 00:25:27,400 Speaker 1: miss out. Please please please stick around to this commercial break, 450 00:25:27,440 --> 00:25:30,040 Speaker 1: and if you're listening on the podcast, would love it, 451 00:25:30,359 --> 00:25:32,520 Speaker 1: would love it if you leave us a review, let 452 00:25:32,600 --> 00:25:33,960 Speaker 1: us know what you like, let us know what you 453 00:25:33,960 --> 00:25:38,119 Speaker 1: don't like. We'll be back after this commercial break. Hello, 454 00:25:38,240 --> 00:25:40,359 Speaker 1: and welcome back to The Mark Moss Show, where we 455 00:25:40,400 --> 00:25:44,520 Speaker 1: cover the decentralized revolution, running through some of the latest 456 00:25:44,640 --> 00:25:47,800 Speaker 1: breaking news stories from around the world. My name is 457 00:25:47,840 --> 00:25:49,600 Speaker 1: Cue and I'm feeling it for Mark for this hour. 458 00:25:49,920 --> 00:25:51,960 Speaker 1: And if you missed any part of our show this week, 459 00:25:52,160 --> 00:25:54,159 Speaker 1: be sure to check out the full episode available on 460 00:25:54,280 --> 00:25:58,080 Speaker 1: every podcast platform just search for the Mark Moss Show. Now. 461 00:25:58,119 --> 00:25:59,560 Speaker 1: We always like to look at the world through the 462 00:25:59,640 --> 00:26:02,919 Speaker 1: lens of politics, finance, and technology, and we've been talking 463 00:26:02,960 --> 00:26:06,080 Speaker 1: a lot about China and the recent chips war going on, 464 00:26:06,440 --> 00:26:08,520 Speaker 1: and I'll let Mark dive into that deeper with his 465 00:26:08,600 --> 00:26:11,920 Speaker 1: guests tomorrow, but I want to look at the ongoing 466 00:26:11,960 --> 00:26:15,119 Speaker 1: conflict with China through just through a different lens, and 467 00:26:15,160 --> 00:26:18,560 Speaker 1: I really want to highlight just how fragmented our relationship 468 00:26:18,600 --> 00:26:20,800 Speaker 1: with them has become. So a couple of weeks ago, 469 00:26:21,160 --> 00:26:24,920 Speaker 1: Janet Yellen made a trip to China. Now, the timing 470 00:26:25,000 --> 00:26:29,720 Speaker 1: of the trip was a little strange, or not a coincidence, 471 00:26:29,760 --> 00:26:32,920 Speaker 1: as I like to say. Her trip comes just days 472 00:26:32,960 --> 00:26:37,360 Speaker 1: after China announced export controls on gallium and germanium. These 473 00:26:37,400 --> 00:26:42,280 Speaker 1: are two key inputs into semiconductors. Essentially you need this 474 00:26:42,320 --> 00:26:46,840 Speaker 1: to make the semiconductors. And this restriction from China was 475 00:26:46,880 --> 00:26:49,960 Speaker 1: a response to the US restriction on what type of 476 00:26:50,000 --> 00:26:54,800 Speaker 1: semiconductors can be sent to China. So there seems to 477 00:26:54,800 --> 00:26:58,320 Speaker 1: be a growing amount of tension. But despite that, Janet 478 00:26:58,400 --> 00:27:03,000 Speaker 1: Yellen insisted the US has no interest in decoupling. Meanwhile, 479 00:27:03,000 --> 00:27:05,280 Speaker 1: we're on shoring a bunch of factories and we're bringing 480 00:27:05,320 --> 00:27:11,639 Speaker 1: over essentially our work back on American soil. Sure. Now, 481 00:27:11,960 --> 00:27:16,760 Speaker 1: it is important to note that, based on a pharmacia 482 00:27:16,840 --> 00:27:21,160 Speaker 1: expert on China, Dennis Wilder, the Chinese leaders actually see 483 00:27:21,160 --> 00:27:23,639 Speaker 1: Secretary of Yellen as one of the most pragmatic and 484 00:27:23,840 --> 00:27:28,600 Speaker 1: less political senior officials. And the Biden administration Okay, I 485 00:27:28,600 --> 00:27:31,879 Speaker 1: guess it's a really low bar worth highlighting, though, that 486 00:27:31,920 --> 00:27:35,199 Speaker 1: Xijingping continues to not meet with Joe Biden. I know 487 00:27:35,240 --> 00:27:39,199 Speaker 1: that that's a conversation that the two governments are having. 488 00:27:39,240 --> 00:27:41,280 Speaker 1: At least the US is trying to push for that meeting. 489 00:27:42,119 --> 00:27:46,520 Speaker 1: China couldn't be bothered, to say the least. But what's 490 00:27:46,680 --> 00:27:51,119 Speaker 1: really interesting is what the Chinese media is saying about 491 00:27:51,119 --> 00:27:55,960 Speaker 1: this meeting, and you know, one state owned media outlet, 492 00:27:56,440 --> 00:28:00,320 Speaker 1: Xinghua News Agency, described the conversations that yell and had 493 00:28:00,359 --> 00:28:04,080 Speaker 1: with the senior Chinese officials as constructive, and another one, 494 00:28:04,320 --> 00:28:08,840 Speaker 1: The Global Times, quoted Premier League Quing as telling Janet 495 00:28:08,880 --> 00:28:12,159 Speaker 1: Yellen that China US ties can see rainbows after a 496 00:28:12,280 --> 00:28:16,480 Speaker 1: round of wind and rain. Okay, So that means China 497 00:28:16,520 --> 00:28:19,879 Speaker 1: sees our current relationship as that akin to being in 498 00:28:19,880 --> 00:28:24,640 Speaker 1: the middle of a storm. Okay, that that's not an 499 00:28:24,640 --> 00:28:27,080 Speaker 1: ideal place to be with someone where you're asking them 500 00:28:27,080 --> 00:28:29,919 Speaker 1: for a whole lot. Then you got to understand what 501 00:28:29,960 --> 00:28:33,640 Speaker 1: it is we're asking them. Well, Janet Yellen went over 502 00:28:33,680 --> 00:28:36,000 Speaker 1: there on a climate crusade, but she wasn't the only one. 503 00:28:36,119 --> 00:28:38,320 Speaker 1: We'll get to that in a second. Yellen met with 504 00:28:38,360 --> 00:28:41,960 Speaker 1: climate finance leaders and suggested China support efforts like the 505 00:28:42,000 --> 00:28:45,520 Speaker 1: Green Climate Fund and the Climate Investment Funds to address 506 00:28:45,520 --> 00:28:49,080 Speaker 1: the effects of climate change on developing countries. She was 507 00:28:49,520 --> 00:28:52,440 Speaker 1: going there to essentially highlight the fact that, hey, between 508 00:28:52,600 --> 00:28:55,880 Speaker 1: the US and China, we produce about forty percent of 509 00:28:55,880 --> 00:28:59,960 Speaker 1: these greenhouse gases. So if we were to make again, 510 00:29:00,000 --> 00:29:04,200 Speaker 1: if he can changes to our policies, we could theoretically 511 00:29:04,560 --> 00:29:09,080 Speaker 1: really have a substantial impact on at least this aspect 512 00:29:09,160 --> 00:29:12,840 Speaker 1: of greenhouse gases going out into the world. But Janny 513 00:29:12,880 --> 00:29:16,680 Speaker 1: Yellen wasn't the only one. Remember John Kerry Well, he 514 00:29:16,760 --> 00:29:19,520 Speaker 1: also found himself in China and he went to discuss 515 00:29:20,080 --> 00:29:25,320 Speaker 1: climate change. Oh boy, John Well, it turns out that 516 00:29:26,320 --> 00:29:33,200 Speaker 1: didn't really care. In fact, Senior leader Lee Schuo, the 517 00:29:33,280 --> 00:29:37,320 Speaker 1: senior climate advisor with the environmental group Greenpeace in Beijing, 518 00:29:37,920 --> 00:29:41,960 Speaker 1: was quoted saying further engagements should help unlock more ambition 519 00:29:42,120 --> 00:29:47,360 Speaker 1: in reducing coal consumption, cutting methane emissions, and beating a 520 00:29:47,440 --> 00:29:51,720 Speaker 1: path towards a stronger outcome at COP twenty eight, a 521 00:29:52,000 --> 00:29:55,320 Speaker 1: climate summit that's going to be in Dubai later this year. 522 00:29:55,800 --> 00:29:59,640 Speaker 1: I want to unpack this quote though, because what this 523 00:29:59,680 --> 00:30:02,240 Speaker 1: person saying is that they're not saying, hey, we're gonna 524 00:30:02,280 --> 00:30:06,800 Speaker 1: use less energy. No, we're just gonna move off of coal. 525 00:30:07,760 --> 00:30:10,720 Speaker 1: What they're not saying is, hey, we're gonna whatever energy 526 00:30:10,760 --> 00:30:13,640 Speaker 1: we would have been using through coal consumption, We're gonna 527 00:30:13,720 --> 00:30:16,000 Speaker 1: use that energy, but we're gonna find a different way. 528 00:30:16,800 --> 00:30:21,680 Speaker 1: And then cutting methane emissions. Look, I and Mark have 529 00:30:21,760 --> 00:30:24,400 Speaker 1: talked a lot about this, but there is clear evidence 530 00:30:24,480 --> 00:30:29,360 Speaker 1: showing you how bitcoin mining is actually taking these flared 531 00:30:29,400 --> 00:30:35,760 Speaker 1: methane gases and essentially opening the door for reducing emissions, 532 00:30:37,240 --> 00:30:40,640 Speaker 1: finding straightened energy, and then creating hard sound money as 533 00:30:40,680 --> 00:30:44,400 Speaker 1: a result. Now, if you're actually familiar with China and 534 00:30:44,440 --> 00:30:48,320 Speaker 1: bitcoin and their sort of intertwined history, you'll know that technically, 535 00:30:48,840 --> 00:30:52,440 Speaker 1: as of this recording right now, China has banned bitcoin, 536 00:30:53,680 --> 00:30:59,000 Speaker 1: and yet Hong Kong is slowly exploring ways for people 537 00:30:59,040 --> 00:31:03,000 Speaker 1: to get exposed to bitcoin. It is also worth noting 538 00:31:03,000 --> 00:31:07,040 Speaker 1: that China had previously already banned bitcoin and then unbanned it, 539 00:31:07,120 --> 00:31:11,600 Speaker 1: only to then reban it. So could we actually be 540 00:31:11,920 --> 00:31:17,520 Speaker 1: seeing steps being made to potentially have China adopt bitcoin 541 00:31:17,600 --> 00:31:21,400 Speaker 1: become a global leader in bitcoin mining. This is pure speculation, 542 00:31:21,960 --> 00:31:26,600 Speaker 1: but the fact that they're highlighting cutting methane emissions, to me, 543 00:31:28,160 --> 00:31:31,160 Speaker 1: that feels like a very straightforward Hey, we can continue 544 00:31:31,200 --> 00:31:33,520 Speaker 1: to use the energy output. We're going to need more 545 00:31:33,600 --> 00:31:36,080 Speaker 1: energy if we want to expand our country and continue 546 00:31:36,080 --> 00:31:39,160 Speaker 1: to grow, and there are ways to do that that 547 00:31:39,200 --> 00:31:44,560 Speaker 1: are economically viable. But the weird thing is these were 548 00:31:44,560 --> 00:31:48,960 Speaker 1: not the only two US government officials to go to China. 549 00:31:49,080 --> 00:31:53,680 Speaker 1: In fact, Henry Kissinger, which if you may not realize, 550 00:31:53,720 --> 00:31:58,959 Speaker 1: was he was instrumental in helping to arrange President Nixon's 551 00:31:59,120 --> 00:32:03,640 Speaker 1: visit to China. Henry Kissinger actually made a visit to China, 552 00:32:04,720 --> 00:32:07,959 Speaker 1: and he actually met with a senior defense minister. It 553 00:32:08,000 --> 00:32:10,480 Speaker 1: wasn't like he was on vacation. He seemed to be 554 00:32:10,560 --> 00:32:15,280 Speaker 1: going there and having very clear cut political and strategic conversations. 555 00:32:16,560 --> 00:32:19,560 Speaker 1: Kissinger met with the Chinese Defense Minister Li shehang Fu 556 00:32:19,800 --> 00:32:27,640 Speaker 1: in Beijing last Tuesday. And it's almost so crazy. But 557 00:32:27,720 --> 00:32:34,640 Speaker 1: it gets crazier because Li shang Fu refused to meet 558 00:32:35,000 --> 00:32:39,000 Speaker 1: the US Defense Sectary Lloyd Austin at a regional security 559 00:32:39,040 --> 00:32:43,840 Speaker 1: forum in Singapore just a month ago. We're not We're 560 00:32:43,920 --> 00:32:47,160 Speaker 1: at a point where the Chinese officials are saying, no, 561 00:32:47,200 --> 00:32:50,200 Speaker 1: I don't want to talk to this one. Bring me back, Henry, 562 00:32:50,600 --> 00:32:54,640 Speaker 1: bring me back Henry Kissinger. It would probably be a 563 00:32:54,640 --> 00:32:56,680 Speaker 1: bad time to admit that I was surprised to know 564 00:32:56,720 --> 00:32:58,560 Speaker 1: that Henry Kissinger is still alive. The man is one 565 00:32:58,600 --> 00:33:03,400 Speaker 1: hundred years old. He has done a lot for this country, 566 00:33:03,400 --> 00:33:08,360 Speaker 1: but he is not actually a member of our government 567 00:33:08,480 --> 00:33:13,560 Speaker 1: today right now. But The fact that other countries do 568 00:33:13,640 --> 00:33:17,800 Speaker 1: not view our current leaders, who will not meet with 569 00:33:17,920 --> 00:33:21,560 Speaker 1: Joe Biden, who will not meet with the current defense 570 00:33:21,600 --> 00:33:25,720 Speaker 1: minister or Defense secretary, but will meet with former ones, 571 00:33:26,240 --> 00:33:31,280 Speaker 1: is very telling about what place the US has now. 572 00:33:31,720 --> 00:33:34,280 Speaker 1: It is important to know that during all of this, 573 00:33:34,520 --> 00:33:37,800 Speaker 1: there have been some economic news coming out of China, 574 00:33:38,720 --> 00:33:43,280 Speaker 1: specifically that their exports have fallen the most in three years. Specifically, 575 00:33:43,320 --> 00:33:48,120 Speaker 1: exports from China have suffered a severe decline, plunging by 576 00:33:48,360 --> 00:33:52,440 Speaker 1: twelve point four percent year over year in June after 577 00:33:52,480 --> 00:33:55,480 Speaker 1: a seven and a half percent decline in May. So 578 00:33:55,520 --> 00:33:59,400 Speaker 1: you're looking at almost I think when I calculated it out, 579 00:33:59,400 --> 00:34:05,040 Speaker 1: it came out to like eighteen percent decline in just exports, 580 00:34:05,240 --> 00:34:07,400 Speaker 1: and then not to mention the fact that imports are 581 00:34:07,440 --> 00:34:11,440 Speaker 1: also experiencing a sharper contraction than expected, declining by six 582 00:34:11,480 --> 00:34:15,840 Speaker 1: point eight percent, surpassing the predicted four percent decline. So 583 00:34:16,560 --> 00:34:19,160 Speaker 1: China's exports in the US saw the sharpest decline amongst 584 00:34:19,360 --> 00:34:22,920 Speaker 1: its top trading partners, down almost twenty four percent. We've 585 00:34:22,920 --> 00:34:25,360 Speaker 1: been running through some of the latest breaking news from 586 00:34:25,440 --> 00:34:28,120 Speaker 1: this week. You're listening to the Mark Moss Show. If 587 00:34:28,120 --> 00:34:32,000 Speaker 1: you've missed any of today's show. Don't worry, we have 588 00:34:32,080 --> 00:34:34,480 Speaker 1: got you covered. Just head on over to your favorite 589 00:34:34,480 --> 00:34:37,719 Speaker 1: podcasting platform and search for the Mark Moss Show. Thank 590 00:34:37,800 --> 00:34:40,000 Speaker 1: you so much for tuning in. Mark will be back 591 00:34:40,040 --> 00:34:43,400 Speaker 1: with an awesome interview with Matt Pines to dive even 592 00:34:43,600 --> 00:34:46,680 Speaker 1: deeper on the US and China's relationship.