1 00:00:00,080 --> 00:00:02,600 Speaker 1: Hello, and welcome back to another episode of The Markmas Show, 2 00:00:02,600 --> 00:00:05,320 Speaker 1: where we talk about the decentralized revolution each and every week, 3 00:00:05,600 --> 00:00:08,600 Speaker 1: the way the world's changing through the lens of politics 4 00:00:08,760 --> 00:00:12,680 Speaker 1: and finance and technology, moving from a world of centralization 5 00:00:12,720 --> 00:00:16,840 Speaker 1: to decentralization. And uh man, there's so much going on 6 00:00:16,880 --> 00:00:20,360 Speaker 1: in the world, so much that continues to prove this 7 00:00:20,440 --> 00:00:22,959 Speaker 1: thesis is coming true and we need to keep an 8 00:00:22,960 --> 00:00:24,640 Speaker 1: eye on it. You know, people always ask me, Mark, 9 00:00:24,640 --> 00:00:26,160 Speaker 1: when is it gonna happen? When is it gonna happen. 10 00:00:26,200 --> 00:00:31,400 Speaker 1: I'm like, it's happening. It is apt like it's happening now, 11 00:00:31,440 --> 00:00:33,560 Speaker 1: we're watching it. And so I always want to remind 12 00:00:33,560 --> 00:00:38,159 Speaker 1: you it's a process and not an event. A process 13 00:00:38,200 --> 00:00:43,440 Speaker 1: and not an event. Now, um, a little story about that. 14 00:00:43,720 --> 00:00:47,720 Speaker 1: Um so I I am still but in one of 15 00:00:47,760 --> 00:00:50,720 Speaker 1: my former lives, I was a full time real estate investor, 16 00:00:51,800 --> 00:00:54,920 Speaker 1: buying properties, fixing, flipping. But I was also buying dirt 17 00:00:54,960 --> 00:00:57,840 Speaker 1: and building from the ground up right, um. And those 18 00:00:57,840 --> 00:01:00,680 Speaker 1: projects will take four or five years, sometimes longer. Let's 19 00:01:00,720 --> 00:01:04,240 Speaker 1: say for example, that I heard, uh I was at 20 00:01:04,040 --> 00:01:07,200 Speaker 1: a town a town hall meeting and they said, hey, uh, 21 00:01:07,240 --> 00:01:09,360 Speaker 1: you know our five year plan Um, this this piece 22 00:01:09,360 --> 00:01:12,000 Speaker 1: of land that's about thirty miles from town. Uh, we're 23 00:01:12,000 --> 00:01:15,560 Speaker 1: gonna build a new football stadium there, and um, it's 24 00:01:15,600 --> 00:01:17,319 Speaker 1: gonna be We're gonna try and push every all the 25 00:01:17,360 --> 00:01:19,520 Speaker 1: growth of the town towards this football stadium is gonna 26 00:01:19,520 --> 00:01:21,080 Speaker 1: be amazing. You want to build entertainment and how's in 27 00:01:21,080 --> 00:01:23,800 Speaker 1: blah blah blah blah blah. And I'm like, wow, that's amazing. 28 00:01:23,880 --> 00:01:26,720 Speaker 1: The next morning, I leave and I go by as 29 00:01:26,800 --> 00:01:29,240 Speaker 1: much land as I can in that area, right, but 30 00:01:29,280 --> 00:01:30,959 Speaker 1: I know that it's not gonna be built for five years. 31 00:01:31,000 --> 00:01:32,600 Speaker 1: So what am I doing? I need to make sure, 32 00:01:32,640 --> 00:01:34,840 Speaker 1: like is this project still on tracks? So I'm monitoring 33 00:01:34,840 --> 00:01:37,800 Speaker 1: now have they got you know, have they got the plans, 34 00:01:37,880 --> 00:01:40,640 Speaker 1: are they getting the permits? Have they secured the financing? 35 00:01:41,200 --> 00:01:44,319 Speaker 1: Are they breaking ground? Have they started building? Right? And 36 00:01:44,319 --> 00:01:46,640 Speaker 1: so I'm monitoring the progress to make sure that thing 37 00:01:46,680 --> 00:01:48,520 Speaker 1: is still happening. Now if I find out oh no, 38 00:01:48,800 --> 00:01:50,480 Speaker 1: I guess what they found out They had nuclear waste 39 00:01:50,520 --> 00:01:52,680 Speaker 1: on that on that land they could no longer build anymore, Well, 40 00:01:52,720 --> 00:01:55,760 Speaker 1: then okay, the projects off. So we want to These 41 00:01:55,760 --> 00:02:00,120 Speaker 1: are processes, not events, and so this is happening and 42 00:02:00,200 --> 00:02:03,120 Speaker 1: we see the daily signs to show us as is happening, 43 00:02:03,120 --> 00:02:06,440 Speaker 1: so we can act accordingly. Um. And so that's why 44 00:02:06,520 --> 00:02:08,920 Speaker 1: I like to look at all of this news now, 45 00:02:10,040 --> 00:02:13,120 Speaker 1: big news in the economy. Uh. I put out a 46 00:02:13,800 --> 00:02:15,920 Speaker 1: put out a I think, a story on Instagram. If 47 00:02:15,960 --> 00:02:19,000 Speaker 1: you're not following me on Instagram or Twitter, you should. Uh. 48 00:02:19,160 --> 00:02:21,280 Speaker 1: It's just one Mark Moss, just the number one Mark Moss. 49 00:02:21,320 --> 00:02:23,000 Speaker 1: And I put out a story on Instagram. And I 50 00:02:23,080 --> 00:02:26,120 Speaker 1: was like, tongue in cheek obviously, but I'm like, all right, 51 00:02:26,160 --> 00:02:32,520 Speaker 1: congratulations he congratulations. Uh. The United States debt finally surpassed 52 00:02:32,600 --> 00:02:36,640 Speaker 1: thirty one trillion dollars for the first time. Uh, tongue 53 00:02:36,639 --> 00:02:39,360 Speaker 1: in cheek, But that's a big number, dirty one trillion 54 00:02:39,360 --> 00:02:42,880 Speaker 1: dollars for the first time ever. It's not a milestone 55 00:02:42,919 --> 00:02:45,840 Speaker 1: to celebrate. So I was being tongue in cheek. Now, 56 00:02:46,080 --> 00:02:50,640 Speaker 1: not only not only have we passed thirty one trillion dollars, 57 00:02:51,000 --> 00:02:53,480 Speaker 1: which is not a good milestone, it's a grim mouse dun. 58 00:02:53,880 --> 00:02:56,799 Speaker 1: At the same time, as the debt is absolutely exploding, 59 00:02:57,560 --> 00:03:01,079 Speaker 1: we have soaring interest rates, so that means not only 60 00:03:01,160 --> 00:03:02,760 Speaker 1: are we getting more debt, but we have to pay 61 00:03:02,960 --> 00:03:05,919 Speaker 1: more for the debt at the same time, which is 62 00:03:05,919 --> 00:03:11,160 Speaker 1: a pretty big deal. Uh, We're seeing inflation higher than 63 00:03:11,200 --> 00:03:15,000 Speaker 1: we've seen in forty years, interest rates are going up, 64 00:03:15,360 --> 00:03:20,920 Speaker 1: and the debt is growing as well. Now we have 65 00:03:21,120 --> 00:03:23,200 Speaker 1: we have this phenomenon. It's growing faster than it has 66 00:03:23,240 --> 00:03:25,639 Speaker 1: any time in history. I believe. I believe it's gone 67 00:03:25,720 --> 00:03:29,280 Speaker 1: up by four trillion since Biden took office, or within 68 00:03:29,320 --> 00:03:30,800 Speaker 1: the last couple of years. I don't have the exact 69 00:03:31,120 --> 00:03:33,280 Speaker 1: number in front of me. UM, but what we do 70 00:03:33,360 --> 00:03:39,400 Speaker 1: know is that UM, we are spending more. The interest 71 00:03:39,440 --> 00:03:41,400 Speaker 1: on the debt is going up more, which means we 72 00:03:41,440 --> 00:03:46,400 Speaker 1: have less money to put towards other things. And tax 73 00:03:46,440 --> 00:03:50,400 Speaker 1: receipts are coming down m So the amount of income 74 00:03:50,480 --> 00:03:53,560 Speaker 1: coming in is going down, but are spending is going 75 00:03:53,680 --> 00:03:56,920 Speaker 1: up and the debt that we have is getting more expensive. 76 00:03:57,480 --> 00:04:00,440 Speaker 1: It's not a good it's not a very good combo 77 00:04:00,520 --> 00:04:02,600 Speaker 1: to have. As a matter of fact, we see that 78 00:04:03,160 --> 00:04:05,320 Speaker 1: Congress and the President have approved a combined one point 79 00:04:05,400 --> 00:04:09,240 Speaker 1: nine trillion and new borrowing, and President Biden has approved 80 00:04:09,280 --> 00:04:13,280 Speaker 1: four point nine trillion in new deficits since taking office. 81 00:04:13,280 --> 00:04:16,760 Speaker 1: So five trillion dollars in deficits. What does that mean? 82 00:04:16,800 --> 00:04:19,800 Speaker 1: That's the difference of the income and the expenses. So 83 00:04:19,839 --> 00:04:21,640 Speaker 1: let's say that you make a hundred thousand dollars a year, 84 00:04:22,560 --> 00:04:24,320 Speaker 1: but you need a hundred and twenty thousand to live, 85 00:04:24,360 --> 00:04:26,240 Speaker 1: so you're borrowing off of credit cards or whatever. So 86 00:04:26,279 --> 00:04:28,200 Speaker 1: we have a twenty dollar deficits. Well, we had a 87 00:04:28,320 --> 00:04:33,400 Speaker 1: five trillion dollar deficits. Five trillion dollar deficits, and of 88 00:04:33,480 --> 00:04:35,400 Speaker 1: course during that time, we need to continue to spend 89 00:04:35,440 --> 00:04:38,360 Speaker 1: more and more money we're sending. Uh you know, was 90 00:04:38,440 --> 00:04:41,120 Speaker 1: it twelve billion dollars was the latest deal going over 91 00:04:41,120 --> 00:04:43,640 Speaker 1: to Ukraine at a time where we just we didn't 92 00:04:43,640 --> 00:04:47,159 Speaker 1: have no money. But it's troubling because the debt has real, 93 00:04:48,440 --> 00:04:51,080 Speaker 1: real problems. So you might hear people say, oh, we 94 00:04:51,120 --> 00:04:55,720 Speaker 1: owe it to ourselves, right, we owe to ourselves, Uh yeah, 95 00:04:55,760 --> 00:04:58,040 Speaker 1: some of it, but who else we go to? Well, 96 00:04:58,200 --> 00:05:00,800 Speaker 1: we owe it to all the retire these whose pension 97 00:05:00,800 --> 00:05:02,680 Speaker 1: funds are tied up in it. Yeah, we owe it 98 00:05:02,760 --> 00:05:05,680 Speaker 1: to other countries like Japan whose o theve retirees are 99 00:05:05,720 --> 00:05:08,840 Speaker 1: tied up in it as well. So uh sure, right, 100 00:05:08,880 --> 00:05:13,040 Speaker 1: we owe some to ourselves whatever, But ourselves are like 101 00:05:13,240 --> 00:05:16,040 Speaker 1: me and my money that I'm planning to have upon 102 00:05:16,160 --> 00:05:19,520 Speaker 1: retirement that could potentially go away. We can see that 103 00:05:19,560 --> 00:05:24,400 Speaker 1: Medicare is only six years from insolvency. Six years from 104 00:05:24,400 --> 00:05:27,719 Speaker 1: insolvency what I mean Medicare having no more money. A 105 00:05:27,760 --> 00:05:30,839 Speaker 1: lot of people depend on Medicare. When that goes broke, 106 00:05:30,880 --> 00:05:35,240 Speaker 1: what happens? So security is insolvent in twelve years. Bummer 107 00:05:35,279 --> 00:05:37,000 Speaker 1: for me. I've been paying into it for a long time. 108 00:05:37,040 --> 00:05:40,160 Speaker 1: Looks like I got no money to retire on. So 109 00:05:40,200 --> 00:05:45,000 Speaker 1: what's gonna happen with that? Well, either the government goes 110 00:05:45,040 --> 00:05:47,599 Speaker 1: busts and doesn't pay all these people to sub security 111 00:05:47,600 --> 00:05:49,680 Speaker 1: they owe them and all the medicare. Either that happens, 112 00:05:49,839 --> 00:05:55,960 Speaker 1: or more likely, they print a lot more money, a 113 00:05:56,040 --> 00:06:00,279 Speaker 1: lot more so you can you can chime in on 114 00:06:00,360 --> 00:06:02,680 Speaker 1: what you think is more likely. Hit me up on 115 00:06:02,720 --> 00:06:05,240 Speaker 1: social media, um one, Mark Moss and let me know 116 00:06:05,279 --> 00:06:07,320 Speaker 1: what you think. Of course, I'll tell you what I think. 117 00:06:08,480 --> 00:06:10,279 Speaker 1: Why would a government go bankrupt when they can just 118 00:06:10,279 --> 00:06:13,480 Speaker 1: print the money? Of course the answer is they won't. 119 00:06:13,520 --> 00:06:15,960 Speaker 1: So we have that big problem. The debt is getting bigger. 120 00:06:16,279 --> 00:06:19,760 Speaker 1: At the same time, we just saw the job's openings, 121 00:06:20,080 --> 00:06:22,080 Speaker 1: So the economy, remember that the FED has two man 122 00:06:22,160 --> 00:06:26,120 Speaker 1: dates full employment and stable prices. Where prices aren't stable, 123 00:06:26,480 --> 00:06:29,680 Speaker 1: they're nowhere near stable. As a matter of fact, as 124 00:06:29,720 --> 00:06:32,839 Speaker 1: I was talking about earlier, gas prices just broke their 125 00:06:32,839 --> 00:06:35,920 Speaker 1: all time records set in June. So, uh, that's anything 126 00:06:35,960 --> 00:06:37,520 Speaker 1: far from stables. A matter of fact, they went up 127 00:06:37,520 --> 00:06:42,120 Speaker 1: a dollar twenty in just thirty days. Certainly not stable. UM. 128 00:06:42,160 --> 00:06:44,080 Speaker 1: So they're failing at that obviously, but they can at 129 00:06:44,160 --> 00:06:47,039 Speaker 1: least we have a low unemployment, We have low eemployment, 130 00:06:47,080 --> 00:06:49,000 Speaker 1: well not really if we dig into the date, it's 131 00:06:49,000 --> 00:06:51,240 Speaker 1: not that bad. But it's even worse because this week 132 00:06:51,279 --> 00:06:53,839 Speaker 1: we saw job openings plunged by more than one point 133 00:06:53,880 --> 00:06:59,240 Speaker 1: one million in August, a ten percent drop from what 134 00:06:59,279 --> 00:07:02,280 Speaker 1: was reported into lie and more than a million less 135 00:07:02,360 --> 00:07:04,640 Speaker 1: than what was expected. That's the big thing. And so 136 00:07:04,880 --> 00:07:07,840 Speaker 1: they set these expectations, they set these goals, um whenever 137 00:07:07,880 --> 00:07:09,800 Speaker 1: like a public traded company says these are sales or 138 00:07:09,840 --> 00:07:13,720 Speaker 1: profit expectations or the government does, you're supposed to hit those, 139 00:07:14,120 --> 00:07:15,840 Speaker 1: you want to beat them. If you don't, if you don't, 140 00:07:15,880 --> 00:07:17,800 Speaker 1: if you don't meet those at a big deal. And 141 00:07:17,880 --> 00:07:21,360 Speaker 1: that's exactly what happened here. UM. And so what does 142 00:07:21,400 --> 00:07:25,119 Speaker 1: that mean? It means that UM, there's a massive US 143 00:07:25,360 --> 00:07:29,760 Speaker 1: labor gap. It's beginning to close, all right. Um, so 144 00:07:29,760 --> 00:07:31,880 Speaker 1: it's a big deal. And the numbers of hires rose slightly, 145 00:07:31,920 --> 00:07:35,920 Speaker 1: while total separations jumped by a d two thousand. Quits 146 00:07:36,040 --> 00:07:38,800 Speaker 1: or those who left their jobs voluntarily, rose by a 147 00:07:38,840 --> 00:07:42,280 Speaker 1: hundred thousand for the month to four point one six million, 148 00:07:42,360 --> 00:07:45,680 Speaker 1: So four million people over four million people quit or 149 00:07:45,800 --> 00:07:48,480 Speaker 1: left their job. Now we don't know why. We know 150 00:07:48,600 --> 00:07:49,800 Speaker 1: at the end of last year, we saw a lot 151 00:07:49,800 --> 00:07:51,520 Speaker 1: of people quitting their jobs, record amounts, as a matter 152 00:07:51,520 --> 00:07:54,400 Speaker 1: of fact, people quitting their jobs to um trade options 153 00:07:54,400 --> 00:07:58,000 Speaker 1: on robin Hood or trade cryptocurrencies. I can't imagine they're 154 00:07:58,080 --> 00:08:02,160 Speaker 1: they're still doing that right now, um, but maybe they 155 00:08:02,480 --> 00:08:04,960 Speaker 1: because as we saw on some of the labor reports 156 00:08:04,960 --> 00:08:09,160 Speaker 1: in July, people were taking multiple jobs um. And so 157 00:08:09,200 --> 00:08:11,880 Speaker 1: the growth that we saw in jobs wasn't real data. 158 00:08:11,960 --> 00:08:14,360 Speaker 1: I mean, it was obviously real data, but it wasn't 159 00:08:14,400 --> 00:08:16,440 Speaker 1: what it seemed. And so we saw it wasn't that 160 00:08:16,640 --> 00:08:18,360 Speaker 1: more people are going to work. That people were taking 161 00:08:18,400 --> 00:08:20,320 Speaker 1: more than one job, and so maybe they're going back 162 00:08:20,320 --> 00:08:23,000 Speaker 1: to one job potentially. But these are the signs that 163 00:08:23,000 --> 00:08:27,840 Speaker 1: show us, like the FEDS, the FEDS stock. The FED 164 00:08:27,960 --> 00:08:29,520 Speaker 1: is going to have to do something. They said they're 165 00:08:29,520 --> 00:08:33,360 Speaker 1: gonna stick with it until it's done, but I'm not 166 00:08:33,440 --> 00:08:37,680 Speaker 1: so sure. I think I am, for one, making the 167 00:08:37,720 --> 00:08:39,920 Speaker 1: case that they won't be able to bring inflation back 168 00:08:39,920 --> 00:08:42,040 Speaker 1: down to two percent. They will be forced to pivot 169 00:08:42,040 --> 00:08:44,240 Speaker 1: before they get to that point. Maybe they get it 170 00:08:44,280 --> 00:08:47,480 Speaker 1: to four or five at best, but they're going to 171 00:08:47,559 --> 00:08:51,679 Speaker 1: be forced to pivot. Uh. The job's opening reports show 172 00:08:51,760 --> 00:08:54,720 Speaker 1: that the national debt shows that the story and deficit 173 00:08:54,800 --> 00:08:57,640 Speaker 1: shows that UM. As inflation continues to rade, John, the 174 00:08:57,640 --> 00:09:00,000 Speaker 1: government will have to spend more money to subsidize energy prices. 175 00:09:00,040 --> 00:09:02,280 Speaker 1: Is like they're already doing over in Europe. We'll see 176 00:09:02,320 --> 00:09:07,760 Speaker 1: the deficit expand and that long awaited pivot is coming. 177 00:09:08,120 --> 00:09:09,679 Speaker 1: Now you're listening to the Mark Ma Show. We talk 178 00:09:09,720 --> 00:09:13,200 Speaker 1: about the decentralized revolution, and this is one of those things. 179 00:09:13,200 --> 00:09:16,160 Speaker 1: We talked about money, uh, finance, politics and technology, and 180 00:09:16,160 --> 00:09:18,679 Speaker 1: through the politics and finance, peace the system we know 181 00:09:18,720 --> 00:09:21,319 Speaker 1: it is coming to an end, showing the inevitability of 182 00:09:21,360 --> 00:09:24,240 Speaker 1: this decentralized world we're talking about. Anyway, I got a 183 00:09:24,320 --> 00:09:26,640 Speaker 1: lot more to cover when I come back about the pivot. 184 00:09:26,679 --> 00:09:30,439 Speaker 1: I got more about oh oh, some big stories. Actually 185 00:09:31,080 --> 00:09:32,440 Speaker 1: you don't want to miss this. Don't go away. I'm 186 00:09:32,440 --> 00:09:34,920 Speaker 1: gonna be right back. All right, welcome back. You are 187 00:09:34,920 --> 00:09:36,760 Speaker 1: listening to the Mark Ma Show. We're talking about the 188 00:09:36,760 --> 00:09:39,920 Speaker 1: decentralized revolution, the way the world is changing right now 189 00:09:39,960 --> 00:09:44,000 Speaker 1: before our very eyes. And one thing that I'm it's 190 00:09:44,040 --> 00:09:46,640 Speaker 1: been scaring me and I've been talking about quite a bit, 191 00:09:47,600 --> 00:09:49,520 Speaker 1: um and it is scary. It's very scary. I'm sure 192 00:09:49,520 --> 00:09:51,520 Speaker 1: you're scared about it when I tell you what it is. 193 00:09:51,760 --> 00:09:54,360 Speaker 1: But I'm but I have hope and I'm continuing to 194 00:09:54,480 --> 00:09:57,560 Speaker 1: get more hope and be more encouraged. That's what am 195 00:09:57,559 --> 00:10:00,600 Speaker 1: I talking about. Well, over the last couple of years, 196 00:10:00,920 --> 00:10:04,320 Speaker 1: we have seen this shift. The world has shifted hard 197 00:10:04,360 --> 00:10:09,080 Speaker 1: to the left. Um wokesm has taken over everything. And 198 00:10:09,080 --> 00:10:12,160 Speaker 1: it's part of my thesis of this peak centralization. So 199 00:10:12,559 --> 00:10:16,200 Speaker 1: as we get to peak centralization, uh, it gets more 200 00:10:16,320 --> 00:10:19,160 Speaker 1: control and they're trying to control more and more and 201 00:10:19,200 --> 00:10:21,400 Speaker 1: more and more. But the world is rejecting it, has 202 00:10:21,400 --> 00:10:23,199 Speaker 1: breaking apart, and so they're trying to squeeze and hold 203 00:10:23,240 --> 00:10:24,920 Speaker 1: on even more as the world rejects it and breaks 204 00:10:24,920 --> 00:10:26,400 Speaker 1: it apart. So a couple of things that we can 205 00:10:26,440 --> 00:10:29,240 Speaker 1: see of this um and and these are like reactions. 206 00:10:29,280 --> 00:10:33,000 Speaker 1: But I mean, just this week we saw UH has 207 00:10:33,000 --> 00:10:35,560 Speaker 1: seen de Hardin for the PM of New Zealand, went 208 00:10:35,600 --> 00:10:42,880 Speaker 1: to the u N and called for coordinated global censorship. 209 00:10:43,800 --> 00:10:48,679 Speaker 1: She said that free speech is a weapon of war. 210 00:10:50,000 --> 00:10:55,040 Speaker 1: That was her words. What we're seeing is UH corporations 211 00:10:56,280 --> 00:11:02,000 Speaker 1: going woke, pushing agendas on all types of issues. They're 212 00:11:02,000 --> 00:11:05,800 Speaker 1: pushing these e s G policies and environmental social governance. 213 00:11:05,800 --> 00:11:08,679 Speaker 1: So these corporations have to match these e s G 214 00:11:09,360 --> 00:11:12,360 Speaker 1: UH qualities in order to get funding. So if you 215 00:11:12,400 --> 00:11:14,560 Speaker 1: want to sell your products, if you want financing, then 216 00:11:14,600 --> 00:11:17,800 Speaker 1: you have to comply with this. But these are disastrous 217 00:11:17,880 --> 00:11:20,520 Speaker 1: policies for a bunch of reasons. First of all, the 218 00:11:20,559 --> 00:11:23,240 Speaker 1: first reason off the bat is because central planning always fails. 219 00:11:23,640 --> 00:11:26,520 Speaker 1: You cannot control an economy top down. It doesn't work. 220 00:11:26,559 --> 00:11:28,079 Speaker 1: It's been tried over and over and over for the 221 00:11:28,120 --> 00:11:31,360 Speaker 1: last huntred years. It's felt miserably every single time time, 222 00:11:31,480 --> 00:11:35,800 Speaker 1: and it will never work because a group of people 223 00:11:36,080 --> 00:11:39,280 Speaker 1: do not have the information that collectively the market has. 224 00:11:39,880 --> 00:11:42,480 Speaker 1: All right, it doesn't work, it can never work. But 225 00:11:42,520 --> 00:11:45,440 Speaker 1: this is happening more and more and more but uh, 226 00:11:45,600 --> 00:11:48,920 Speaker 1: as as scary as this is because they're wielding a 227 00:11:48,920 --> 00:11:52,120 Speaker 1: lot of weight. We're seeing firms like black Rock wield 228 00:11:52,120 --> 00:11:55,000 Speaker 1: their weight. The largest asset manager in the world is 229 00:11:55,200 --> 00:11:58,600 Speaker 1: forcing companies to change, you know, to go woke, to 230 00:11:58,640 --> 00:12:00,800 Speaker 1: push these e s. G. Agen is and so that's scary. 231 00:12:00,880 --> 00:12:04,560 Speaker 1: But what I'm happy about is we're seeing the tide shift. 232 00:12:04,760 --> 00:12:07,240 Speaker 1: The pendulum is swinging back. And so what am I 233 00:12:07,240 --> 00:12:10,400 Speaker 1: talking about. Well, we saw some big news this week 234 00:12:10,440 --> 00:12:13,360 Speaker 1: that I was uh, pretty happy about and it was 235 00:12:13,400 --> 00:12:16,240 Speaker 1: about black Rock. Now, first of all, if you don't 236 00:12:16,240 --> 00:12:18,640 Speaker 1: know who black Rock is, then you've been living under 237 00:12:18,679 --> 00:12:22,040 Speaker 1: a rock. I suppose no pun intended to black Rock. 238 00:12:22,440 --> 00:12:24,679 Speaker 1: But black Rock is, like I said, the largest money 239 00:12:24,720 --> 00:12:28,160 Speaker 1: mass money manager in the world, and they are using 240 00:12:28,160 --> 00:12:31,280 Speaker 1: that money to weaponize it against you. As a matter 241 00:12:31,280 --> 00:12:36,880 Speaker 1: of fact, they are endangering US prosperity and national security. 242 00:12:36,920 --> 00:12:39,079 Speaker 1: Per an article that I'm I'm reading here that came 243 00:12:39,080 --> 00:12:41,720 Speaker 1: out on the Federalist. Black Rock is a big, powerful 244 00:12:41,720 --> 00:12:44,400 Speaker 1: company that most Americans know little about. It manages almost 245 00:12:44,520 --> 00:12:47,480 Speaker 1: ten trillion that numbers bigger now um and the vast 246 00:12:47,480 --> 00:12:50,800 Speaker 1: majority of its investing is done passively. So black Rock 247 00:12:50,840 --> 00:12:54,080 Speaker 1: manages money for large institutions and pensions. If you have 248 00:12:54,120 --> 00:12:57,160 Speaker 1: a pension um or like a four one K, then 249 00:12:57,160 --> 00:13:00,160 Speaker 1: it's a good chance you have your money with black 250 00:13:00,200 --> 00:13:04,040 Speaker 1: just about everything, I'm sorry, just about everyone um has 251 00:13:04,280 --> 00:13:08,120 Speaker 1: or knows someone who has money directly or indirectly in 252 00:13:08,320 --> 00:13:10,280 Speaker 1: black Rock. They're that big and so because of that, 253 00:13:10,320 --> 00:13:14,760 Speaker 1: they wield enormous power. And uh, even though they're not 254 00:13:14,840 --> 00:13:18,280 Speaker 1: the owner of the money, they're managing it on behalf 255 00:13:18,280 --> 00:13:22,319 Speaker 1: of their clients. But they get the vote, they can 256 00:13:22,440 --> 00:13:25,920 Speaker 1: vote on those shares they buy on behalf of their clients. 257 00:13:26,120 --> 00:13:28,680 Speaker 1: So you have your money in a in an index fund, 258 00:13:28,679 --> 00:13:30,720 Speaker 1: in a four O one K, and a pension, and 259 00:13:30,760 --> 00:13:32,880 Speaker 1: that pension is now given to black Rock, so black 260 00:13:32,960 --> 00:13:35,600 Speaker 1: Rock can manage it. So it's not their money that 261 00:13:35,640 --> 00:13:38,320 Speaker 1: they wield all the power with. It's yours. But they 262 00:13:38,360 --> 00:13:40,680 Speaker 1: have it because you've given it to them passively, and 263 00:13:40,679 --> 00:13:44,880 Speaker 1: they use it to exert exert crazy amounts of influence 264 00:13:44,920 --> 00:13:49,920 Speaker 1: over corporate management like for example, Exxon, Microsoft, etcetera. Now 265 00:13:50,000 --> 00:13:51,840 Speaker 1: what they do is they push for these left wing 266 00:13:52,200 --> 00:13:55,160 Speaker 1: political priorities. I hate to use left or right. They're 267 00:13:55,160 --> 00:13:58,440 Speaker 1: pushing for E S G policies, They're pushing for woke policies. 268 00:13:58,440 --> 00:14:02,200 Speaker 1: Whatever side do you want to call that on UM alone, 269 00:14:02,240 --> 00:14:06,079 Speaker 1: black Rock opposed the reelection of eight hundred company directors. 270 00:14:06,480 --> 00:14:09,720 Speaker 1: They took over Exxon's board, and they stopped Exon from 271 00:14:09,800 --> 00:14:14,360 Speaker 1: drilling for new oil projects an oil company. Interesting. They 272 00:14:14,440 --> 00:14:17,440 Speaker 1: removed board governors and installed new members. Despite the globe 273 00:14:17,440 --> 00:14:20,960 Speaker 1: objectively being underinvested in energy, so at a time when 274 00:14:20,960 --> 00:14:24,720 Speaker 1: we don't have enough energy, they took over EXN and 275 00:14:24,760 --> 00:14:28,080 Speaker 1: made Excen stop drilling for oil. It seems like it 276 00:14:28,120 --> 00:14:30,600 Speaker 1: goes against yours and my best interests. I would like 277 00:14:30,640 --> 00:14:33,120 Speaker 1: oil to be cheaper. If oil cheaper, everything goes cheaper, 278 00:14:33,200 --> 00:14:35,840 Speaker 1: but not to black Rock. Black Rock contributes to the 279 00:14:35,840 --> 00:14:41,440 Speaker 1: economy's monopoly problem. UM black Rock is the is a 280 00:14:41,560 --> 00:14:45,360 Speaker 1: prominent cause of the unprecedented rise in housing prices. They've 281 00:14:45,400 --> 00:14:47,920 Speaker 1: killed the dreams of so many Americans um to own 282 00:14:47,920 --> 00:14:50,920 Speaker 1: homes because they buy up chunks of single family homes, 283 00:14:50,960 --> 00:14:53,320 Speaker 1: person in large unks of homes paying over thirty five 284 00:14:53,320 --> 00:14:54,960 Speaker 1: percent asking price, because they have the ability to have 285 00:14:55,040 --> 00:14:56,360 Speaker 1: all that money. I can keep going on and on 286 00:14:56,400 --> 00:14:59,320 Speaker 1: about black Rock, but you get the point. What I'm 287 00:14:59,320 --> 00:15:02,680 Speaker 1: happy about out as I saw just this week that 288 00:15:02,800 --> 00:15:08,640 Speaker 1: Louisiana hits black Rock with a massive, multideal, multimillion dollar 289 00:15:08,960 --> 00:15:15,080 Speaker 1: divestment for quote blatantly anti fossil fuel policies. So Louisiana 290 00:15:15,080 --> 00:15:18,040 Speaker 1: State Treasurer John Schroeder announced that his state will divest. 291 00:15:18,040 --> 00:15:19,640 Speaker 1: That means they're gonna take all their money away. We're 292 00:15:19,640 --> 00:15:21,120 Speaker 1: done with you. We're not going to give you our 293 00:15:21,160 --> 00:15:23,760 Speaker 1: money to weaponize against us anymore. We're gonna take our 294 00:15:23,760 --> 00:15:28,040 Speaker 1: money back. Forget you. They're divesting their funds from black 295 00:15:28,120 --> 00:15:30,800 Speaker 1: Rock due to Environmental, Social and Governance e s G 296 00:15:30,920 --> 00:15:35,280 Speaker 1: policies and and and some claim boycott the oil, gas, 297 00:15:35,320 --> 00:15:38,840 Speaker 1: and coal industries. Schroeder said, quote in a letter, you're 298 00:15:38,880 --> 00:15:44,000 Speaker 1: blatantly anti fossil fuel policies would destroy Louisiana's economy. Why 299 00:15:44,000 --> 00:15:46,520 Speaker 1: would we give you our money so uh in in 300 00:15:46,600 --> 00:15:49,600 Speaker 1: the state, our pensioners are retirees. We're gonna give you 301 00:15:49,640 --> 00:15:51,600 Speaker 1: money that you're going to use to push policies that 302 00:15:51,600 --> 00:15:55,040 Speaker 1: will destroy us. Why would I give you money that 303 00:15:55,080 --> 00:15:57,520 Speaker 1: you're going to weaponize against me, to destroy me? Makes 304 00:15:57,560 --> 00:16:01,280 Speaker 1: no sense? And I would ask every buddy listening right 305 00:16:01,280 --> 00:16:04,160 Speaker 1: now to ask themselves that very same question. If you 306 00:16:04,240 --> 00:16:07,200 Speaker 1: have any money at all that somehow gets back to 307 00:16:08,000 --> 00:16:10,800 Speaker 1: black Rock and Vanguarden State Street. You need to think 308 00:16:10,800 --> 00:16:13,440 Speaker 1: about getting that money out, pressuring whoever's and control that 309 00:16:13,480 --> 00:16:16,200 Speaker 1: money to get that money out, to avoid losing state 310 00:16:16,240 --> 00:16:19,200 Speaker 1: money quote to the detriment of our citizens. The Louisiana 311 00:16:19,240 --> 00:16:24,080 Speaker 1: Treasury will gradually pull money away from the financial firm. 312 00:16:24,440 --> 00:16:28,200 Speaker 1: Once complete, this divestment will reflect almost one billion dollars 313 00:16:28,200 --> 00:16:31,960 Speaker 1: no longer entangled in black Rock money market funds, mutual funds, 314 00:16:32,040 --> 00:16:35,800 Speaker 1: or exchange traded funds ETFs. According to the letter, the 315 00:16:35,920 --> 00:16:37,960 Speaker 1: letter took direct him at e s G, an investing 316 00:16:38,000 --> 00:16:41,200 Speaker 1: practice that penalized industries believed to be harming the environment. 317 00:16:41,440 --> 00:16:43,880 Speaker 1: But e s gs environmental considerations are often made at 318 00:16:43,920 --> 00:16:48,440 Speaker 1: the expense of other fiduciary duties, fidicciary duties. So the 319 00:16:48,600 --> 00:16:52,320 Speaker 1: goal of a president the fdciary duty legally binding the 320 00:16:52,520 --> 00:16:56,560 Speaker 1: role of a board or CEO or um black Rock, 321 00:16:56,640 --> 00:16:59,200 Speaker 1: who now takes these board seats should be a finisiary 322 00:16:59,280 --> 00:17:03,920 Speaker 1: dude to may the company more profitable, basically more profitable. 323 00:17:04,520 --> 00:17:07,680 Speaker 1: Anything they do that is not making them more profitable 324 00:17:07,760 --> 00:17:11,600 Speaker 1: breaks their fidciary duty. That's a legal problem. I would 325 00:17:11,600 --> 00:17:13,040 Speaker 1: like to see them instead of just pulling money out, 326 00:17:13,040 --> 00:17:15,200 Speaker 1: why not file a lawsuit against them? Right, you're not 327 00:17:15,320 --> 00:17:17,159 Speaker 1: doing what's in best interest of the company. You are 328 00:17:17,280 --> 00:17:19,640 Speaker 1: purposely I mean you took over x and and made 329 00:17:19,680 --> 00:17:22,200 Speaker 1: them stop drilling for oil. I mean they're an oil company. 330 00:17:23,560 --> 00:17:25,480 Speaker 1: Uh so they're saying that they do it at the 331 00:17:25,520 --> 00:17:27,879 Speaker 1: expense of the fidiciary duties. Investment firms that use E 332 00:17:28,000 --> 00:17:31,320 Speaker 1: s G investing practice is often referred to quote stakeholder capitalism, 333 00:17:31,680 --> 00:17:34,680 Speaker 1: as black Rock does on its website. So, um, you know, 334 00:17:34,920 --> 00:17:37,359 Speaker 1: I'm scared. I'm worried. I don't like seeing this happen, 335 00:17:37,440 --> 00:17:40,000 Speaker 1: But I'm encouraged by people are waking up and they're 336 00:17:40,000 --> 00:17:42,720 Speaker 1: actually doing something. And my hope is that this will 337 00:17:42,800 --> 00:17:45,840 Speaker 1: bring more attention to what black Rock and Vanguarden states 338 00:17:45,920 --> 00:17:48,160 Speaker 1: we are doing. More people will pull their money away. 339 00:17:48,200 --> 00:17:50,040 Speaker 1: If enough people pull their money away, they're going to 340 00:17:50,080 --> 00:17:52,520 Speaker 1: be forced to change. Hit them where your where the 341 00:17:52,640 --> 00:17:55,239 Speaker 1: pock ubly is you vote with your money, pull your 342 00:17:55,280 --> 00:17:57,440 Speaker 1: money out. If enough people pull their money out, black 343 00:17:57,520 --> 00:18:00,920 Speaker 1: Rock might go shoot. Maybe we should reverse course on 344 00:18:01,040 --> 00:18:04,359 Speaker 1: these stupid decisions that we're doing. At least as I 345 00:18:04,400 --> 00:18:05,960 Speaker 1: hope you're listening, to the Mark Ma Show. We're talking 346 00:18:05,960 --> 00:18:07,920 Speaker 1: about the way the way the world is changing through 347 00:18:08,040 --> 00:18:11,320 Speaker 1: the decentralized revolution, and we're seeing it happen in real time. 348 00:18:11,359 --> 00:18:12,760 Speaker 1: I got a lot more to cover when I come back. 349 00:18:12,760 --> 00:18:14,600 Speaker 1: I'm gonna take a quick break. You don't want to 350 00:18:14,640 --> 00:18:16,760 Speaker 1: miss it, so don't go away. I'm gonna be right back. 351 00:18:17,480 --> 00:18:19,320 Speaker 1: All right, welcome back. You are listening to the Mark 352 00:18:19,400 --> 00:18:21,959 Speaker 1: Ma Show. We're talking about the decentralized revolution. The way 353 00:18:21,960 --> 00:18:24,520 Speaker 1: the world is changing right before our very eyes, through 354 00:18:24,560 --> 00:18:31,000 Speaker 1: the lens of politics, finance, and technology, and they all three, 355 00:18:31,080 --> 00:18:32,760 Speaker 1: they all work together. I like to focus on the 356 00:18:32,920 --> 00:18:35,920 Speaker 1: intersection of those three. But if we look at the finance, UM, 357 00:18:36,800 --> 00:18:40,159 Speaker 1: we can see the financial world is melting down right 358 00:18:40,200 --> 00:18:42,680 Speaker 1: before our very eyes. The Federal Reserve doesn't want to 359 00:18:42,720 --> 00:18:44,359 Speaker 1: know what to do. Central banks around the world are 360 00:18:44,359 --> 00:18:46,640 Speaker 1: blowing up. The Bank of England just had to bail 361 00:18:46,680 --> 00:18:50,560 Speaker 1: out the UK's pension funds. UM, it's getting real out there. 362 00:18:50,640 --> 00:18:54,080 Speaker 1: Let's let's just say that now, as bad as things 363 00:18:54,240 --> 00:18:57,520 Speaker 1: have been getting and we said where there's been numerous 364 00:18:57,640 --> 00:19:00,159 Speaker 1: polls done by University of Michigan, which does of the 365 00:19:00,200 --> 00:19:03,240 Speaker 1: best polls out there, that showed that consumer sentiment is 366 00:19:03,320 --> 00:19:06,359 Speaker 1: like at its worst ever. As a matter of fact, Um, 367 00:19:06,440 --> 00:19:08,439 Speaker 1: they've been doing polls not just consumers, but they've been 368 00:19:08,440 --> 00:19:13,200 Speaker 1: doing polls on on businesses and global CEOs, etcetera. And 369 00:19:13,280 --> 00:19:15,720 Speaker 1: it's been bad. As a matter of fact, some crazy 370 00:19:15,800 --> 00:19:19,560 Speaker 1: numbers were like, um, you know, fifty of small businesses 371 00:19:19,760 --> 00:19:22,840 Speaker 1: expected to laying people off over the next twelve months. Um, 372 00:19:22,960 --> 00:19:26,560 Speaker 1: sixty of small businesses in the transportation sector, we're behind 373 00:19:26,640 --> 00:19:28,600 Speaker 1: on their on their rent payments. I mean, it's been 374 00:19:28,640 --> 00:19:31,639 Speaker 1: bad out there, but it seems like the tide is 375 00:19:31,800 --> 00:19:35,439 Speaker 1: shifting a little bit. Why is the tie shifting, Well, 376 00:19:35,520 --> 00:19:38,680 Speaker 1: the tide is shifting, at least in the sentiment side. 377 00:19:38,720 --> 00:19:40,159 Speaker 1: I'm gonna tell you about that. And I'm gonna tell 378 00:19:40,160 --> 00:19:42,840 Speaker 1: you why I think the sentiment is shifting and why 379 00:19:42,880 --> 00:19:45,000 Speaker 1: it's sent Why it's shifting for me, and maybe it 380 00:19:45,040 --> 00:19:47,480 Speaker 1: could be shifting for you. Now, the world is uncertain. 381 00:19:47,520 --> 00:19:49,159 Speaker 1: We don't know what's going to happen. All we can 382 00:19:49,200 --> 00:19:52,520 Speaker 1: do is see what is happening, what's going to happen, 383 00:19:52,560 --> 00:19:54,119 Speaker 1: and we try to draw some conclusions off that. So 384 00:19:54,280 --> 00:19:55,960 Speaker 1: bear with me. Let's let's take a walk through that. 385 00:19:56,200 --> 00:19:59,120 Speaker 1: So this report came out this week that global CEOs 386 00:19:59,359 --> 00:20:05,119 Speaker 1: expect impending recession to be short and sharp. Quote poll shows, 387 00:20:05,320 --> 00:20:10,600 Speaker 1: So global CEOs expect the anticipated recessions, so they're anticipating 388 00:20:10,640 --> 00:20:15,000 Speaker 1: a recession. Um. I mean, you know, the Biden administration 389 00:20:15,119 --> 00:20:17,600 Speaker 1: changed the definition of a of a of a recession, 390 00:20:17,640 --> 00:20:19,800 Speaker 1: so maybe maybe we won't have one in the classical 391 00:20:19,920 --> 00:20:23,000 Speaker 1: sense any anyway, or in the technical definition that they 392 00:20:23,040 --> 00:20:26,040 Speaker 1: would say. But global CEOs are anticipating a recession in 393 00:20:26,119 --> 00:20:29,560 Speaker 1: the next twelve months, but more than half of them 394 00:20:29,680 --> 00:20:34,879 Speaker 1: anticipated will be like I said, quote mild and short. Um. 395 00:20:34,960 --> 00:20:38,639 Speaker 1: But these business leaders have all expressed more confidence since 396 00:20:38,760 --> 00:20:41,200 Speaker 1: the start of the year that there will be growth 397 00:20:41,440 --> 00:20:45,359 Speaker 1: prospects in the next three years. So it's interesting to 398 00:20:45,440 --> 00:20:49,440 Speaker 1: think about that. So about half of them expect that 399 00:20:49,520 --> 00:20:52,879 Speaker 1: there's going to be a recession, if if we're not 400 00:20:52,880 --> 00:20:54,359 Speaker 1: already in one, I mean, we've had two quarters of 401 00:20:54,440 --> 00:20:58,520 Speaker 1: negative GDP growth. Uh, But they expect it will have one, 402 00:20:58,520 --> 00:21:02,600 Speaker 1: but it's gonna be mild and short, and then if 403 00:21:02,640 --> 00:21:04,720 Speaker 1: it's short, then that means we'll start growing again on 404 00:21:04,760 --> 00:21:06,320 Speaker 1: the other side of the recession, which is why they 405 00:21:06,400 --> 00:21:09,280 Speaker 1: say they see big prospects for growth in the next 406 00:21:09,359 --> 00:21:12,320 Speaker 1: three years, which is pretty interesting. Now this kind of 407 00:21:12,359 --> 00:21:14,120 Speaker 1: aligns with what I'm thinking. I'm going to talk about 408 00:21:14,119 --> 00:21:15,800 Speaker 1: what I'm thinking a little bit, but this is a 409 00:21:15,840 --> 00:21:19,400 Speaker 1: majority of the th chief executives pulled by KPMG. KPMG 410 00:21:19,920 --> 00:21:21,960 Speaker 1: is what's called one of the Big Four. There's big 411 00:21:22,000 --> 00:21:25,080 Speaker 1: four accounting firms, global international accounting firms that go in 412 00:21:25,160 --> 00:21:26,639 Speaker 1: and you know, look at the books and certify the 413 00:21:26,720 --> 00:21:29,920 Speaker 1: numbers and things like that. So kpm G is the 414 00:21:29,960 --> 00:21:32,960 Speaker 1: big dog. So their polls are with kind of the 415 00:21:33,000 --> 00:21:35,880 Speaker 1: who's who of these chief executives. So majority of thirteen 416 00:21:36,119 --> 00:21:40,800 Speaker 1: chief executives pulled by KPMG between July and August warned, however, 417 00:21:40,920 --> 00:21:44,760 Speaker 1: that increased disruptions such as the recession could make it 418 00:21:44,880 --> 00:21:48,760 Speaker 1: difficult for their businesses to rebound from the pandemic. But 419 00:21:48,920 --> 00:21:52,200 Speaker 1: that that being said, the CEO has expressed more optimism 420 00:21:52,400 --> 00:21:54,159 Speaker 1: compared to the start of the year. So at the 421 00:21:54,200 --> 00:21:56,880 Speaker 1: start of the year, um again, as I was talk 422 00:21:56,960 --> 00:22:01,000 Speaker 1: referenced some of these surveys, sentiment was at a record low. 423 00:22:01,800 --> 00:22:04,640 Speaker 1: All these businesses thought they would have to lay off 424 00:22:04,720 --> 00:22:09,240 Speaker 1: all these people. But now it's rebounded, right, it's rebounded. 425 00:22:09,280 --> 00:22:12,800 Speaker 1: It says here, uh, more express morponism compared to the 426 00:22:12,920 --> 00:22:15,359 Speaker 1: start of the year and said there would be growth 427 00:22:15,400 --> 00:22:17,720 Speaker 1: prospects in the next two years. Why why, Why is 428 00:22:17,800 --> 00:22:21,800 Speaker 1: the sentiment shifting. It's an interesting question that I'm gonna 429 00:22:21,840 --> 00:22:23,800 Speaker 1: answer for you don't worry, but it's an interesting question 430 00:22:23,840 --> 00:22:27,040 Speaker 1: because all the signs show that things are getting worse. 431 00:22:28,320 --> 00:22:30,879 Speaker 1: I mean, like I said, the Bank of England has 432 00:22:30,880 --> 00:22:34,840 Speaker 1: had the belt, the UK pensions, we just had the 433 00:22:35,280 --> 00:22:38,760 Speaker 1: North Stream pipeline blow up. There's no more oil going 434 00:22:38,840 --> 00:22:45,560 Speaker 1: from Russia to Germany anymore, or gas. Things are getting worse. 435 00:22:45,640 --> 00:22:49,760 Speaker 1: Germany has tried to stockpile natural gas supplies, but they 436 00:22:50,080 --> 00:22:52,600 Speaker 1: their reserves are only gonna get them about thirty percent 437 00:22:52,680 --> 00:22:55,320 Speaker 1: of what they need for the winter. That's a seventy 438 00:22:55,640 --> 00:23:02,920 Speaker 1: percent reduction. So the factories are shutting down, their d industrializing. 439 00:23:03,200 --> 00:23:04,840 Speaker 1: If you d industrialize, if you show your factors and 440 00:23:04,880 --> 00:23:08,000 Speaker 1: if you don't produce goods, what happens you have no exports. 441 00:23:08,040 --> 00:23:10,640 Speaker 1: If we have an export, what happens? You know tax trees? 442 00:23:10,680 --> 00:23:12,880 Speaker 1: If you know tax trees, what happens you go broke 443 00:23:14,000 --> 00:23:17,199 Speaker 1: your default. So in the light of this, we got 444 00:23:17,320 --> 00:23:19,600 Speaker 1: the credit squeeze. Is about the default their CD at 445 00:23:19,600 --> 00:23:21,479 Speaker 1: the credit defallse swaps are going through the roof got 446 00:23:21,560 --> 00:23:24,200 Speaker 1: Japan is now, you know, buying more of their own 447 00:23:24,440 --> 00:23:26,920 Speaker 1: bonds than they've ever done. Um, they're about to implode. 448 00:23:27,200 --> 00:23:29,360 Speaker 1: We got nuclear war that's about to happen on both 449 00:23:29,359 --> 00:23:32,800 Speaker 1: sides of the world, you know, from Russia, Ukraine over there, China, Taiwan. 450 00:23:33,200 --> 00:23:37,440 Speaker 1: We got new North Korea's filing firing missiles over Japan. 451 00:23:38,240 --> 00:23:41,320 Speaker 1: So why are they more optimistic compared to the start 452 00:23:41,359 --> 00:23:47,159 Speaker 1: of the year. Um It says that CEO's worldwide displaying 453 00:23:47,200 --> 00:23:49,960 Speaker 1: greater confidence, grit, and tenacity in writing out the short 454 00:23:50,040 --> 00:23:52,720 Speaker 1: term economic impacts to their businesses, as seen in their 455 00:23:52,800 --> 00:23:55,600 Speaker 1: rising confidence in the global economy and their optimism over 456 00:23:55,640 --> 00:24:01,800 Speaker 1: a three year horizon. UM globally see eos are viewing mergers, acquisitions, 457 00:24:01,800 --> 00:24:04,840 Speaker 1: and innovation favorably, taking a much sharper pencil to the 458 00:24:04,920 --> 00:24:07,359 Speaker 1: numbers and focus on value creation to unlock and track 459 00:24:07,600 --> 00:24:11,400 Speaker 1: deal value. There there's one thing they're worried about here, 460 00:24:11,520 --> 00:24:14,520 Speaker 1: and they're worried about pandemic fatigue. Where they're worried about 461 00:24:14,600 --> 00:24:17,360 Speaker 1: one of the biggest challenges they say as a recession, 462 00:24:17,480 --> 00:24:20,760 Speaker 1: as a business leader, remain under pressure to meet their 463 00:24:20,840 --> 00:24:26,600 Speaker 1: broader social responsibilities. Uh, they're E s D scores. That's 464 00:24:26,640 --> 00:24:30,080 Speaker 1: what they're worried about. So these onerous regulations that have 465 00:24:30,119 --> 00:24:32,160 Speaker 1: been put on them to meet these E s G scores. 466 00:24:32,160 --> 00:24:34,920 Speaker 1: They said, that's one of their biggest challenges that they have. 467 00:24:35,240 --> 00:24:39,359 Speaker 1: They remain under pressure to meet their broader social responsibilities. Quote. 468 00:24:41,119 --> 00:24:43,879 Speaker 1: So even with the even with that changing, even with 469 00:24:43,920 --> 00:24:46,399 Speaker 1: those these honors E s G things breathing down their neck, 470 00:24:46,560 --> 00:24:49,880 Speaker 1: they still have shifted from being very scared and worried 471 00:24:49,920 --> 00:24:51,920 Speaker 1: in the beginning of the year to now being optimistic. 472 00:24:52,080 --> 00:24:54,520 Speaker 1: What happened because like I said, the world, the world 473 00:24:54,560 --> 00:24:59,040 Speaker 1: looks bad. Well, what happened is things have gotten so bad, 474 00:24:59,200 --> 00:25:02,359 Speaker 1: so fat that we know we're going to have to 475 00:25:02,560 --> 00:25:05,200 Speaker 1: come on the other side of it at some point soon. 476 00:25:06,680 --> 00:25:09,720 Speaker 1: And so we're seeing that. We saw, like I said, 477 00:25:09,720 --> 00:25:12,480 Speaker 1: we saw the everyone talks about this. Uh, the FED, 478 00:25:12,560 --> 00:25:14,800 Speaker 1: when will they pivot? So the FED was increasing the 479 00:25:14,840 --> 00:25:17,600 Speaker 1: money supply for the last decade, last dozen years, and 480 00:25:17,800 --> 00:25:20,359 Speaker 1: things have looked exploded. Right, The economy is exploded. The 481 00:25:20,400 --> 00:25:23,320 Speaker 1: markets have gone up. Your real estate, your bitcoing, your stock, 482 00:25:23,400 --> 00:25:25,560 Speaker 1: everything's gone up. It's been great and now they take 483 00:25:25,600 --> 00:25:27,800 Speaker 1: the punch bowl away. Now they decrease the money supply, 484 00:25:28,040 --> 00:25:30,479 Speaker 1: and how everything starts drinking. So everyone's like, well, when 485 00:25:30,560 --> 00:25:32,600 Speaker 1: will they start increasing the money su flag and give 486 00:25:32,640 --> 00:25:34,240 Speaker 1: me some more of that doing some more that hope? 487 00:25:34,240 --> 00:25:35,879 Speaker 1: You am, I need someone that more of that money? Right, 488 00:25:36,040 --> 00:25:38,160 Speaker 1: everybody wants that. When will they come back with that? Well, 489 00:25:38,560 --> 00:25:40,639 Speaker 1: the Fed says they won't because you know, they have 490 00:25:40,720 --> 00:25:43,200 Speaker 1: to fight inflation. So when inflation comes back down, they'll 491 00:25:43,200 --> 00:25:45,240 Speaker 1: they'll bring the money supply back supposedly, right, but what 492 00:25:45,320 --> 00:25:48,720 Speaker 1: if they bring it back sooner? That's what is bringing 493 00:25:48,840 --> 00:25:50,560 Speaker 1: the hope back in my opinion, that's what's bringing the 494 00:25:50,560 --> 00:25:54,120 Speaker 1: hope back. Why what we saw the Bank of England, 495 00:25:54,440 --> 00:25:55,920 Speaker 1: like I think it's the fifth largest central bank in 496 00:25:55,960 --> 00:25:58,440 Speaker 1: the world, capitulated they had to pivot. Okay, fine, we 497 00:25:58,520 --> 00:26:02,000 Speaker 1: can't tighten. We can't tighten them onto we're done. Let's 498 00:26:02,040 --> 00:26:04,240 Speaker 1: just go ahead and blow back up. When they did it, 499 00:26:04,520 --> 00:26:06,120 Speaker 1: it all of a sudden said wait a minute, other 500 00:26:06,200 --> 00:26:08,800 Speaker 1: central banks are breakna do it next as well, So 501 00:26:09,600 --> 00:26:11,200 Speaker 1: we did. We saw the r s A in Australia 502 00:26:11,240 --> 00:26:14,600 Speaker 1: they pivoted. The ECB is about to be forced to 503 00:26:14,600 --> 00:26:17,320 Speaker 1: pivot and eventually the FED will be forced to pivot 504 00:26:17,400 --> 00:26:20,680 Speaker 1: sooner than later because things are so bad. Uh. We 505 00:26:20,760 --> 00:26:23,520 Speaker 1: saw this week that the u ND the United Nations, 506 00:26:23,640 --> 00:26:28,520 Speaker 1: came out and they demand, they demand, big word, demand 507 00:26:28,680 --> 00:26:35,720 Speaker 1: all central banks to stop rate hikes, stop tightening, stop tightening, 508 00:26:35,760 --> 00:26:38,119 Speaker 1: they said, the UN agency dealing with Global trade demanding 509 00:26:38,440 --> 00:26:42,360 Speaker 1: all central banks stop rate hikes. They argue, policy makers 510 00:26:42,400 --> 00:26:44,399 Speaker 1: appear to be hoping that a short term monetary shock 511 00:26:44,760 --> 00:26:46,680 Speaker 1: along the lines and not the same magnitude as that 512 00:26:46,840 --> 00:26:50,399 Speaker 1: pursued by Paul Volker, will be sufficient to anchor inflationary 513 00:26:50,400 --> 00:26:54,800 Speaker 1: expectations without triggering a recession. So they say, if you can, 514 00:26:54,840 --> 00:26:56,920 Speaker 1: if you can restrict them enough, it's going to create that. 515 00:26:57,400 --> 00:27:00,800 Speaker 1: But that's not the case. And so we know that 516 00:27:00,920 --> 00:27:02,479 Speaker 1: it's only a matter of time, and that time has 517 00:27:02,560 --> 00:27:05,320 Speaker 1: been escalated. So they're saying, if there's a recession is 518 00:27:05,359 --> 00:27:07,639 Speaker 1: going to be short and temporary. Why because even if 519 00:27:07,680 --> 00:27:09,760 Speaker 1: there's a dip, the FED will be forced to act 520 00:27:09,880 --> 00:27:13,280 Speaker 1: sooner than later and boom, blow things back up sky high. 521 00:27:14,160 --> 00:27:16,280 Speaker 1: That's what's happening. And and the FED saying, no, no, no, 522 00:27:16,400 --> 00:27:17,760 Speaker 1: we're not going to. We're not going to, We're not 523 00:27:17,840 --> 00:27:20,520 Speaker 1: going to But we're all sitting back on here, right. 524 00:27:20,560 --> 00:27:22,719 Speaker 1: You have to. You just have to. Now you can 525 00:27:22,760 --> 00:27:25,280 Speaker 1: decide to bankrupt the entire world, but they just won't 526 00:27:25,320 --> 00:27:27,920 Speaker 1: do that. The chance of them doing that is single 527 00:27:28,000 --> 00:27:31,960 Speaker 1: digits probability in my opinion. So um, that's why business 528 00:27:32,000 --> 00:27:34,520 Speaker 1: leaders more hopeful, and that's why I'm more hopeful. Let's 529 00:27:34,520 --> 00:27:37,399 Speaker 1: see what's happening. Hopefully you're more hopeful. Hit me up 530 00:27:37,400 --> 00:27:39,320 Speaker 1: on social media. Let me know one. Mark moss Um, 531 00:27:39,359 --> 00:27:40,960 Speaker 1: you listening to the Mark mos Show. We're talking about 532 00:27:40,960 --> 00:27:44,400 Speaker 1: the way the world is changing from centralization to decentralization, 533 00:27:44,520 --> 00:27:47,560 Speaker 1: is breaking apart right before our very eyes, and we're 534 00:27:47,560 --> 00:27:49,159 Speaker 1: going through a play by play by play. I got 535 00:27:49,160 --> 00:27:50,639 Speaker 1: a lot more to cover. Don't go away, I'll be 536 00:27:50,720 --> 00:27:53,240 Speaker 1: right back. Hello, welcome back. You are listening to the 537 00:27:53,280 --> 00:27:57,359 Speaker 1: Mark mass Show. We are talking about the decentralized revolution, 538 00:27:57,359 --> 00:27:59,080 Speaker 1: the way the world is changing right now. Of course 539 00:27:59,119 --> 00:28:01,840 Speaker 1: we're talking about it them the play by play. What's happening. 540 00:28:02,880 --> 00:28:05,359 Speaker 1: So much goes on every single week. It's important that 541 00:28:05,440 --> 00:28:07,359 Speaker 1: to tune in and you pay attention, otherwise you are 542 00:28:07,440 --> 00:28:09,600 Speaker 1: going to be caught off guard. And while things look 543 00:28:09,720 --> 00:28:14,119 Speaker 1: dark and scary and they are. I remain hopeful and 544 00:28:14,200 --> 00:28:16,719 Speaker 1: I believe we are all gonna make it. We're all 545 00:28:16,800 --> 00:28:19,440 Speaker 1: gonna be okay if we play this properly, if we 546 00:28:19,560 --> 00:28:22,359 Speaker 1: navigate this correctly. In order to do that, you gotta 547 00:28:22,440 --> 00:28:24,560 Speaker 1: keep your eyes open. You gotta be paying attention, which 548 00:28:24,600 --> 00:28:25,919 Speaker 1: is why you gotta be tuning in with me each 549 00:28:25,960 --> 00:28:28,040 Speaker 1: and every week. And if you miss a week, that's okay. 550 00:28:28,119 --> 00:28:30,040 Speaker 1: It's okay. You can catch it up on the podcast. 551 00:28:30,119 --> 00:28:33,320 Speaker 1: Just search Mark moss Um Show on your favorite podcast player. 552 00:28:33,920 --> 00:28:38,360 Speaker 1: Imagine you were driving a let's say that you were 553 00:28:38,440 --> 00:28:40,760 Speaker 1: like in um in a row boat and you're going 554 00:28:40,840 --> 00:28:43,280 Speaker 1: super slow and you're in the middle of a lake 555 00:28:43,560 --> 00:28:45,400 Speaker 1: and you you close your eyes while you're rowing for 556 00:28:45,440 --> 00:28:47,520 Speaker 1: a minute. No big deal, right, I mean you're barely 557 00:28:47,560 --> 00:28:50,240 Speaker 1: going you're in a lake. I mean there's no boats around. 558 00:28:50,280 --> 00:28:52,680 Speaker 1: No big deal. Now, let's say you're driving a Ferrari 559 00:28:52,800 --> 00:28:55,320 Speaker 1: down the five Freeway in California with doing a hundred 560 00:28:55,360 --> 00:28:58,480 Speaker 1: miles an hour with the blindfold on. Would be pretty dangerous. 561 00:28:59,040 --> 00:29:01,520 Speaker 1: And that's exactly where we're at. We are escalating. The 562 00:29:01,560 --> 00:29:03,880 Speaker 1: world is escalating UM in the in the more in 563 00:29:03,920 --> 00:29:07,040 Speaker 1: the most dangerous situation at a rapid pace, more than 564 00:29:07,160 --> 00:29:10,160 Speaker 1: I've probably seen any time in my lifetime. Um, and 565 00:29:10,240 --> 00:29:13,360 Speaker 1: I study history, and and uh, we're definitely up there 566 00:29:13,440 --> 00:29:16,000 Speaker 1: in terms of historical rankings. And so you don't want 567 00:29:16,040 --> 00:29:18,080 Speaker 1: to be with a blindfold on like you're rowing a boat. 568 00:29:18,080 --> 00:29:20,560 Speaker 1: We are in a Lamborghini on the fry Freeway in 569 00:29:20,680 --> 00:29:22,720 Speaker 1: massive danger and we're going fast and you need to 570 00:29:22,720 --> 00:29:27,000 Speaker 1: be paying attention so you can navigate appropriately. So and 571 00:29:27,120 --> 00:29:28,960 Speaker 1: if not, you're gonna get caught off guard. Like in 572 00:29:29,080 --> 00:29:31,080 Speaker 1: the UK, they just got caught off guard. All the 573 00:29:31,120 --> 00:29:36,160 Speaker 1: pensioners almost lost everything. The Bank of England stepped in 574 00:29:36,240 --> 00:29:41,040 Speaker 1: and bailed them out. Um, if they didn't, it would 575 00:29:41,040 --> 00:29:44,000 Speaker 1: have been really bad for some people. Eventually someone's going 576 00:29:44,040 --> 00:29:46,640 Speaker 1: to be left holding the bag. And it depends on 577 00:29:46,760 --> 00:29:49,600 Speaker 1: where you're at in the world. So what we saw 578 00:29:49,800 --> 00:29:53,160 Speaker 1: when that happened is in the UK, the British pound, 579 00:29:53,200 --> 00:29:55,360 Speaker 1: which is their currency over there, the British pound was 580 00:29:55,480 --> 00:29:59,160 Speaker 1: just plunging. It was falling super fast against the dollar, 581 00:30:00,240 --> 00:30:04,000 Speaker 1: which means, um, it was inflation, like things were getting harder, 582 00:30:04,000 --> 00:30:05,400 Speaker 1: it was getting more and more and more expensive. So 583 00:30:05,520 --> 00:30:08,680 Speaker 1: what happened the people in the UK tried to get 584 00:30:08,760 --> 00:30:11,280 Speaker 1: out of their falling currency as fast as they could. 585 00:30:11,880 --> 00:30:14,200 Speaker 1: So they were trying to dump their pounds sterlings as 586 00:30:14,240 --> 00:30:16,840 Speaker 1: quick as they could into what what would they go into? Well, 587 00:30:16,880 --> 00:30:19,080 Speaker 1: they were buying bitcoin and they were buying gold as 588 00:30:19,080 --> 00:30:23,640 Speaker 1: a matter of fact, um in the UK physical gold 589 00:30:25,080 --> 00:30:27,440 Speaker 1: got exhausted, there was none available. They went and bought 590 00:30:27,440 --> 00:30:31,320 Speaker 1: as much as they could. You couldn't get anymore. I 591 00:30:31,440 --> 00:30:33,160 Speaker 1: like as a as the saying I use all the time, 592 00:30:33,200 --> 00:30:36,280 Speaker 1: it's uh, dig your well before you're thirsty. So most 593 00:30:36,320 --> 00:30:37,840 Speaker 1: people are like, I don't need to dig a well 594 00:30:37,920 --> 00:30:40,640 Speaker 1: right now. You know I'm not thirsty. But when you're 595 00:30:40,680 --> 00:30:42,920 Speaker 1: eventually thirsty and in to go dig the well, you 596 00:30:42,960 --> 00:30:44,800 Speaker 1: don't have enough time, Like you need water right now. 597 00:30:44,880 --> 00:30:46,800 Speaker 1: And the same is true like in in this situation 598 00:30:47,160 --> 00:30:48,400 Speaker 1: where all of a sudden, all these people want to 599 00:30:48,480 --> 00:30:51,959 Speaker 1: get gold, but there was no gold left. All these 600 00:30:52,000 --> 00:30:53,520 Speaker 1: people want to go buy bitcoin, and you can still 601 00:30:53,520 --> 00:30:55,720 Speaker 1: buy bitcoin, but the price that bitcoin has been going up. 602 00:30:55,800 --> 00:30:58,200 Speaker 1: Now that's a that's the extreme example. If your United States, 603 00:30:58,240 --> 00:30:59,960 Speaker 1: do you have to deal with that, well, maybe maybe not, 604 00:31:00,680 --> 00:31:02,080 Speaker 1: but again, do you want to dig you well before 605 00:31:02,080 --> 00:31:03,880 Speaker 1: you're thirsty? A more extreme example is what's going on 606 00:31:03,920 --> 00:31:08,880 Speaker 1: in Lebanon. So Lebanon has been under massive problems. Um. 607 00:31:09,080 --> 00:31:14,160 Speaker 1: Their currency again has been hyper inflating and it's caused 608 00:31:14,200 --> 00:31:15,920 Speaker 1: massive problems a matter of factor. We saw this week 609 00:31:16,000 --> 00:31:20,400 Speaker 1: that they've been plunged into darkness. Lebanon's political and economic 610 00:31:20,480 --> 00:31:24,360 Speaker 1: crisis has plunged the country into darkness. Um. It desperately 611 00:31:24,880 --> 00:31:30,000 Speaker 1: needs fuel, it needs energy, it needs gas and oil. 612 00:31:30,760 --> 00:31:33,360 Speaker 1: Turns out the still world. Still, the world needs a 613 00:31:33,400 --> 00:31:35,040 Speaker 1: lot of that and it can't get it. Some are 614 00:31:35,080 --> 00:31:40,680 Speaker 1: experiencing power cuts of twenty hours a day. Hospitals have 615 00:31:40,840 --> 00:31:44,600 Speaker 1: to cut back on essential services. Motorists wait hours and 616 00:31:44,720 --> 00:31:46,760 Speaker 1: hours and hours just to get a little bit of gas. 617 00:31:46,880 --> 00:31:49,000 Speaker 1: That's a big deal. But it's even worse than that. 618 00:31:50,440 --> 00:31:54,160 Speaker 1: The banks don't have any money. And so now we've 619 00:31:54,160 --> 00:31:56,640 Speaker 1: seen more than a dozen banks have been rated in 620 00:31:56,880 --> 00:32:01,720 Speaker 1: Lebanon this year by customers demanding to take out their 621 00:32:01,760 --> 00:32:08,719 Speaker 1: own money. Armed robbers are breaking in with guns, holding 622 00:32:08,840 --> 00:32:12,800 Speaker 1: bank staff at gunpoint to rob the bank of their 623 00:32:12,840 --> 00:32:16,880 Speaker 1: own money. That's what it's that's what that's what's come 624 00:32:16,920 --> 00:32:20,080 Speaker 1: down to. On Tuesday, even a member of parliament and 625 00:32:20,200 --> 00:32:25,520 Speaker 1: a retired diplomat staged sit ins at bank branches. Lebanons 626 00:32:25,520 --> 00:32:28,080 Speaker 1: facing a devastated financial crisis, and banks have been forced 627 00:32:28,200 --> 00:32:33,720 Speaker 1: tight withdrawing restrictions. Uh. The BBC's Rachel Thorne has spoken 628 00:32:33,800 --> 00:32:36,320 Speaker 1: to one woman who stormed a bank with a toy 629 00:32:36,480 --> 00:32:40,600 Speaker 1: gun to take out thirteen thou dollars of her family's cash. 630 00:32:42,120 --> 00:32:47,200 Speaker 1: They're literally having to do armed robbery to banks to 631 00:32:47,360 --> 00:32:50,440 Speaker 1: get their own money. That's an extreme example. The UK 632 00:32:50,600 --> 00:32:52,000 Speaker 1: wasn't quite as bad, and of course in the United 633 00:32:52,000 --> 00:32:54,080 Speaker 1: States we're not quiet seeing that either. But do you 634 00:32:54,200 --> 00:32:57,400 Speaker 1: want to wait until you get to the point that 635 00:32:57,560 --> 00:32:59,600 Speaker 1: it takes guns to go into a bank to get 636 00:32:59,640 --> 00:33:01,400 Speaker 1: your own the out? Is that what you want to wait? 637 00:33:02,280 --> 00:33:06,600 Speaker 1: Or do you want to dig your well before you're thirsty? Well, um, 638 00:33:06,840 --> 00:33:08,320 Speaker 1: I'll leave that up to you. You can decide what 639 00:33:08,400 --> 00:33:10,720 Speaker 1: you want to do there. But uh, I'd like to 640 00:33:10,800 --> 00:33:12,640 Speaker 1: dig my well before I'm thirsty, right, I don't want 641 00:33:12,640 --> 00:33:15,360 Speaker 1: to wait. And what we're seeing is this battle coming 642 00:33:15,760 --> 00:33:18,200 Speaker 1: to a head here so at a time when they 643 00:33:18,880 --> 00:33:21,160 Speaker 1: it seems that the markets are going to crash. Real 644 00:33:21,280 --> 00:33:24,080 Speaker 1: estate is gonna crash, stock markets are gonna crash. As 645 00:33:24,080 --> 00:33:26,320 Speaker 1: a matter of fact, the NASDACT, the DOW, they've all 646 00:33:26,360 --> 00:33:31,040 Speaker 1: been plunging. Bitcoin has been holding pretty strong. And bitcoin 647 00:33:31,080 --> 00:33:36,640 Speaker 1: has been holding strong because of supply and demand. I 648 00:33:36,720 --> 00:33:38,160 Speaker 1: was gonna pause you if you're a braink and put 649 00:33:38,200 --> 00:33:40,800 Speaker 1: the put the put a fill in the blank. I 650 00:33:40,840 --> 00:33:43,760 Speaker 1: don't know if you know, but psychologically, anytime you're asked 651 00:33:43,800 --> 00:33:47,239 Speaker 1: a question, you automatically have to answer it, even if 652 00:33:47,280 --> 00:33:49,760 Speaker 1: in your own head. Um, if I ask you a question, 653 00:33:49,800 --> 00:33:52,400 Speaker 1: would you answer it? See, you've answered it in your head. 654 00:33:53,720 --> 00:33:55,680 Speaker 1: But bitcoin has been rising. As a matter of fact, 655 00:33:55,720 --> 00:33:59,360 Speaker 1: it is uh pretty pretty well holding up with this level. Um, 656 00:33:59,480 --> 00:34:01,800 Speaker 1: it's up, but I mean it's not up a lot 657 00:34:01,920 --> 00:34:04,600 Speaker 1: of about ten percent in the last couple of days 658 00:34:04,680 --> 00:34:06,760 Speaker 1: since all of this trouble, in the last week or so, 659 00:34:06,920 --> 00:34:09,800 Speaker 1: since all this trouble really started to take effect, because 660 00:34:09,840 --> 00:34:13,000 Speaker 1: people are starting to realize, like, I need another option. 661 00:34:13,920 --> 00:34:16,840 Speaker 1: I can't get stuck in this currency. That's like the 662 00:34:17,040 --> 00:34:19,320 Speaker 1: sinking ship. I need to get off into one of 663 00:34:19,360 --> 00:34:21,680 Speaker 1: these life rafts while they're still a life raft. If 664 00:34:21,719 --> 00:34:24,920 Speaker 1: we're on the Titanic, there's not enough life rafts to 665 00:34:24,960 --> 00:34:29,719 Speaker 1: go around. Now they say women and children go first. Um, 666 00:34:29,920 --> 00:34:33,280 Speaker 1: the monetary system doesn't necessarily discriminate like that. So whoever 667 00:34:33,360 --> 00:34:35,239 Speaker 1: gets out first has the advantage. And so in the 668 00:34:35,360 --> 00:34:37,640 Speaker 1: UK they're doing that. In Lebanon, they sure as heck 669 00:34:37,719 --> 00:34:39,880 Speaker 1: whist they would have done that in other parts of 670 00:34:39,880 --> 00:34:42,880 Speaker 1: the world that are experiencing double and triple digit inflation. Uh, 671 00:34:43,000 --> 00:34:44,919 Speaker 1: they are certainly doing that. As a matter of fact. 672 00:34:45,840 --> 00:34:49,319 Speaker 1: I think I covered last week in Sub Saharan Africa. Uh, 673 00:34:49,520 --> 00:34:53,080 Speaker 1: they make up eighty percent of all bitcoin transactions under 674 00:34:53,120 --> 00:34:55,799 Speaker 1: a thousand dollars, so they're actually using it for real 675 00:34:55,960 --> 00:34:59,080 Speaker 1: world use cases of all transactions in our thousand dollars. 676 00:34:59,120 --> 00:35:02,160 Speaker 1: Pretty big. But of course the government's, the powers that be, 677 00:35:02,280 --> 00:35:04,960 Speaker 1: the central bankers do not want you to have lifeboats. 678 00:35:05,280 --> 00:35:07,359 Speaker 1: If they had it their way, they would burn all 679 00:35:07,400 --> 00:35:10,160 Speaker 1: the life rafts on the ship so you can't get 680 00:35:10,320 --> 00:35:13,000 Speaker 1: off of it. No, this is not hypothetical, they've said 681 00:35:13,080 --> 00:35:14,879 Speaker 1: as much as a matter of fact. Christine le Guard 682 00:35:15,120 --> 00:35:16,960 Speaker 1: ahead of the ECB formula with the I m F 683 00:35:17,000 --> 00:35:19,799 Speaker 1: who is a convicted criminal, I'll have you. I'll leave 684 00:35:19,840 --> 00:35:21,759 Speaker 1: you to know as well. But now she's at the 685 00:35:21,800 --> 00:35:24,320 Speaker 1: European Central Bank and she says we have to close 686 00:35:24,480 --> 00:35:27,239 Speaker 1: off the exits. They want to keep everybody trapped in 687 00:35:27,640 --> 00:35:30,800 Speaker 1: and they want to roll out their central bank digital currency. 688 00:35:31,360 --> 00:35:33,719 Speaker 1: So if we can get you to convert from your 689 00:35:33,760 --> 00:35:35,840 Speaker 1: dollar you have now into a central bank digital currency, 690 00:35:36,000 --> 00:35:38,359 Speaker 1: then we can control what you can and cannot buy 691 00:35:38,480 --> 00:35:40,359 Speaker 1: with it. We can just say you can't buy stake, 692 00:35:40,680 --> 00:35:43,080 Speaker 1: you can't buy gas, you can't buy gold, you can't 693 00:35:43,080 --> 00:35:46,799 Speaker 1: buy bitcoin, you have no exit. You can't buy real estate, 694 00:35:47,000 --> 00:35:48,440 Speaker 1: you have no X you can't buy stocks, you have 695 00:35:48,520 --> 00:35:52,080 Speaker 1: no exit. Now a lot of people understand how bad, 696 00:35:52,200 --> 00:35:54,799 Speaker 1: how dangerous this could be, and we saw this week 697 00:35:54,840 --> 00:35:58,840 Speaker 1: Republican lawmakers who oppose a FED issued cbd C ask 698 00:35:59,360 --> 00:36:03,760 Speaker 1: the just ask for the Justice Department's assessment. So President 699 00:36:03,800 --> 00:36:06,440 Speaker 1: Biden put an executive order in place for cryptocurrency. He 700 00:36:06,480 --> 00:36:08,000 Speaker 1: wants to learn how to regulate it, he wants to 701 00:36:08,280 --> 00:36:11,279 Speaker 1: have all these He's a he's a freaking dictator, man. 702 00:36:11,480 --> 00:36:13,120 Speaker 1: I'm just gonna call it like it is. That's what 703 00:36:13,200 --> 00:36:15,400 Speaker 1: an executive order is. No due process. I don't care 704 00:36:15,400 --> 00:36:17,080 Speaker 1: what you may says. I'm doing it by executive orders. 705 00:36:17,080 --> 00:36:19,920 Speaker 1: So he passes an executive order to regularly cryptocurrencies, but 706 00:36:21,200 --> 00:36:24,040 Speaker 1: and push the cbdc's Republican lawmakers on the House of 707 00:36:24,080 --> 00:36:26,840 Speaker 1: Financial Services Committee have asked U s Attorney General America 708 00:36:26,880 --> 00:36:29,919 Speaker 1: Garland to share Justice Department's assessment on whether the Federal 709 00:36:29,960 --> 00:36:33,040 Speaker 1: Reserve has the necessary authority to issue a central bank 710 00:36:33,080 --> 00:36:37,080 Speaker 1: digital currency. Why why wouldn't they? Well, as you may know, 711 00:36:37,840 --> 00:36:43,480 Speaker 1: Congress has authority over coining money and it's exclusive. The 712 00:36:43,560 --> 00:36:47,480 Speaker 1: Supreme Court has already recognized Congress's power to coin money 713 00:36:47,680 --> 00:36:52,240 Speaker 1: and regulate the value there of, confirming Congress is authority 714 00:36:52,280 --> 00:36:55,120 Speaker 1: to regulate each phase of currency, not the Federal Reserve. 715 00:36:56,520 --> 00:37:00,120 Speaker 1: Supreme Court has upheld that Congress has the ability at 716 00:37:00,120 --> 00:37:01,799 Speaker 1: the photos or it's gonna be an important case. It's 717 00:37:01,800 --> 00:37:03,839 Speaker 1: gonna be something to watch keep our eye on. Of course, 718 00:37:04,080 --> 00:37:06,320 Speaker 1: they want to close off the exits. They want to 719 00:37:06,400 --> 00:37:09,320 Speaker 1: keep you trapped in like Lebanon did. But you have 720 00:37:09,440 --> 00:37:11,520 Speaker 1: a chance to get out now before it's closed. You 721 00:37:11,640 --> 00:37:13,520 Speaker 1: better be paying attention to listen to the Markmas Show, 722 00:37:13,920 --> 00:37:17,520 Speaker 1: helping you navigate the decentralized revolution as it's changing. We 723 00:37:17,640 --> 00:37:20,120 Speaker 1: covered a lot today. Hopefully I was helpful and uh 724 00:37:20,640 --> 00:37:22,160 Speaker 1: that's what I got. Thanks so much for listening.