1 00:00:00,320 --> 00:00:03,559 Speaker 1: Everyone, Welcome back to another episode of the Markmas Show, 2 00:00:03,560 --> 00:00:06,880 Speaker 1: where we are talking about the decentralized revolution that we 3 00:00:06,920 --> 00:00:10,840 Speaker 1: are living through at this time. Really, we're witnessing history 4 00:00:10,880 --> 00:00:15,200 Speaker 1: books being made, history book history being written. Books will 5 00:00:15,200 --> 00:00:17,560 Speaker 1: be talking about this exact point in time. We're talking 6 00:00:17,560 --> 00:00:21,439 Speaker 1: about the decentralized revolution. We're talking about the intersection of politics, finance, 7 00:00:21,520 --> 00:00:25,520 Speaker 1: and technology, and of course that intersection is bitcoin and 8 00:00:25,520 --> 00:00:28,320 Speaker 1: it is changing the world as we speak in more 9 00:00:28,320 --> 00:00:31,040 Speaker 1: ways than most people can realize. And so that's why 10 00:00:31,160 --> 00:00:33,919 Speaker 1: each and every week I bring to you the latest 11 00:00:34,080 --> 00:00:37,000 Speaker 1: education so you can understand, you can build your foundations, 12 00:00:37,080 --> 00:00:40,440 Speaker 1: you have the information you need to take advantage of 13 00:00:40,479 --> 00:00:42,680 Speaker 1: this transfer. It's gonna be the way the greatest wealth 14 00:00:42,760 --> 00:00:45,159 Speaker 1: transfer you will ever see in your lifetime. We'll see 15 00:00:45,159 --> 00:00:46,839 Speaker 1: in multiple lifetimes. And you can either be on the 16 00:00:46,840 --> 00:00:49,800 Speaker 1: giving end. I've been on that side before. In two 17 00:00:49,800 --> 00:00:52,200 Speaker 1: thousand and eight, I gave my wealth away to other people. 18 00:00:53,320 --> 00:00:55,600 Speaker 1: I didn't like it. I've made a point. I've studied 19 00:00:55,600 --> 00:00:57,920 Speaker 1: for the last twelve years these wealth transfer cycles to 20 00:00:57,960 --> 00:00:59,880 Speaker 1: make sure it doesn't happen to me again. And so 21 00:01:00,120 --> 00:01:02,440 Speaker 1: I can be on the receiving end. And if you 22 00:01:03,000 --> 00:01:05,280 Speaker 1: tune in each end. Every week, I'm gonna be continuing 23 00:01:05,319 --> 00:01:08,000 Speaker 1: to give you that education that you need so you 24 00:01:08,040 --> 00:01:11,039 Speaker 1: know how to see them, how to navigate them, and 25 00:01:11,080 --> 00:01:13,400 Speaker 1: how to position yourself on the receiving end of these 26 00:01:13,440 --> 00:01:16,200 Speaker 1: world transfers. And of course that's what happens when we 27 00:01:16,240 --> 00:01:19,119 Speaker 1: go through highly volatible times like we're going in, with 28 00:01:19,400 --> 00:01:22,840 Speaker 1: inflation running sky high, with world wars on the brink 29 00:01:22,880 --> 00:01:27,199 Speaker 1: of of you know, taking place um and it's all 30 00:01:27,280 --> 00:01:31,640 Speaker 1: being driven by this technological revolution that we're witnessing. And 31 00:01:31,680 --> 00:01:36,760 Speaker 1: so if you haven't already made a calendar appointment a 32 00:01:36,840 --> 00:01:38,520 Speaker 1: date to be with me each and every week, then 33 00:01:38,520 --> 00:01:40,800 Speaker 1: you certainly should just grab your phone put a calendar 34 00:01:40,840 --> 00:01:43,199 Speaker 1: reminder to join me each and every week at this time, 35 00:01:43,200 --> 00:01:45,840 Speaker 1: at this channel. It's going to be the most important 36 00:01:45,880 --> 00:01:49,440 Speaker 1: part of your week. I can say that pretty confidently 37 00:01:49,680 --> 00:01:52,080 Speaker 1: because it's that big of a deal. Each week, I 38 00:01:52,080 --> 00:01:53,800 Speaker 1: try to bring you this education that you need, to 39 00:01:53,880 --> 00:01:56,160 Speaker 1: try to bring you the latest breaking news of the 40 00:01:56,160 --> 00:01:57,920 Speaker 1: week to keep you up to date so you know 41 00:01:57,960 --> 00:01:59,560 Speaker 1: what's going on. And then of course I try to 42 00:01:59,600 --> 00:02:02,400 Speaker 1: bring you some of the brightest and smartest people in 43 00:02:02,440 --> 00:02:04,880 Speaker 1: the space so you can get some different perspective as well, 44 00:02:06,480 --> 00:02:10,240 Speaker 1: and uh, you know each week it's it's been exciting lately. Um, 45 00:02:10,280 --> 00:02:13,040 Speaker 1: you know, it's uh this period of time, these last 46 00:02:13,040 --> 00:02:16,480 Speaker 1: couple of weeks. Um, it's kind of this Vladimir Linen 47 00:02:16,560 --> 00:02:20,400 Speaker 1: quote that said that there's decades where nothing seems to happen, 48 00:02:20,440 --> 00:02:22,600 Speaker 1: and then there's days where decades seem to happen. And 49 00:02:22,600 --> 00:02:24,640 Speaker 1: that's exactly where we're at right now, is like every 50 00:02:24,720 --> 00:02:28,720 Speaker 1: day is like another decade's worth of information. Um, you know, 51 00:02:29,200 --> 00:02:32,800 Speaker 1: going making content on a regular basis, you know, on 52 00:02:32,840 --> 00:02:34,440 Speaker 1: my YouTube channel and then of course here on the 53 00:02:34,560 --> 00:02:38,359 Speaker 1: radio and the podcast. Um, there's been periods where I'm like, dang, 54 00:02:38,400 --> 00:02:41,000 Speaker 1: what are we gonna talk about this week? And then uh, 55 00:02:41,240 --> 00:02:43,120 Speaker 1: then we get the periods like this where I'm like, 56 00:02:43,280 --> 00:02:44,800 Speaker 1: there's too much to cover. I don't know what to do. 57 00:02:44,919 --> 00:02:47,880 Speaker 1: But anyway, that's why it's important that you're paying attention. 58 00:02:47,880 --> 00:02:50,640 Speaker 1: And there is a lot of stuff going on, specifically 59 00:02:50,919 --> 00:02:55,760 Speaker 1: around bitcoin, cryptocurrencies and the decentralized revolution. As we go 60 00:02:56,120 --> 00:02:59,040 Speaker 1: back in history and literally looking at thousands of years 61 00:02:59,040 --> 00:03:02,600 Speaker 1: of history, we can see that what changes the way 62 00:03:02,600 --> 00:03:05,040 Speaker 1: that the world works, the way that the world organizes 63 00:03:05,280 --> 00:03:09,840 Speaker 1: is technology that changes how it communicates, how it organizes, 64 00:03:10,080 --> 00:03:14,200 Speaker 1: changes the political structures, changes the financial structures and everything else. 65 00:03:14,680 --> 00:03:16,720 Speaker 1: And so really we're looking at the technology. That's exactly 66 00:03:16,720 --> 00:03:20,080 Speaker 1: what we're talking about today. And the big, big, big, big, 67 00:03:20,080 --> 00:03:23,880 Speaker 1: big news is that, um, the United States, the Biden 68 00:03:23,919 --> 00:03:30,640 Speaker 1: administration came out with an executive order. Now, UM, we've 69 00:03:30,639 --> 00:03:32,799 Speaker 1: been talking about this, maybe I've probably talked about this 70 00:03:32,800 --> 00:03:34,640 Speaker 1: a little bit in the weeks past, because there was 71 00:03:34,680 --> 00:03:38,080 Speaker 1: like an announcement of an announcement. He was announcing that 72 00:03:38,120 --> 00:03:41,120 Speaker 1: we are going to be making an executive order. An 73 00:03:41,120 --> 00:03:44,080 Speaker 1: announcement of announcement. I love those. We don't know what 74 00:03:44,160 --> 00:03:46,200 Speaker 1: the executive order is going to be yet, but but 75 00:03:46,320 --> 00:03:48,480 Speaker 1: we're going to have one. You just stand by and 76 00:03:48,520 --> 00:03:51,680 Speaker 1: just be ready. We're going to make an executive order 77 00:03:52,920 --> 00:03:56,280 Speaker 1: on cryptocurrencies. So that's what the world has been waiting 78 00:03:56,320 --> 00:03:58,920 Speaker 1: for the last two weeks. Of course, it's been dominated 79 00:03:58,920 --> 00:04:02,600 Speaker 1: by the headlines of say Russia Ukraine, which we'll get 80 00:04:02,640 --> 00:04:05,400 Speaker 1: into a little bit later, um, but you know, specifically 81 00:04:05,400 --> 00:04:08,280 Speaker 1: with Russia Ukraine dominating the headlines and the sanctions that 82 00:04:08,280 --> 00:04:13,120 Speaker 1: are happening there, Um, cryptocurrency is being thrust into that 83 00:04:13,200 --> 00:04:16,640 Speaker 1: conversation as a way for UM, the Russians and maybe 84 00:04:16,720 --> 00:04:19,680 Speaker 1: even the Russian government to get around sanctions. Maybe we'll 85 00:04:19,720 --> 00:04:24,040 Speaker 1: talk about that, UM, But it's been dominating the news headlines, 86 00:04:24,080 --> 00:04:26,719 Speaker 1: and here we are UM with an executive order was 87 00:04:26,800 --> 00:04:30,599 Speaker 1: finally released, UM talking about what they're gonna do to 88 00:04:30,680 --> 00:04:34,560 Speaker 1: regulate digital assets or we should say, cryptocurrency. So I 89 00:04:34,600 --> 00:04:36,240 Speaker 1: want to dig into that. I got a lot to 90 00:04:36,279 --> 00:04:37,640 Speaker 1: cover today. I want to talk about that. I want 91 00:04:37,640 --> 00:04:42,880 Speaker 1: to talk about what the why UM, the United States, UM, 92 00:04:42,960 --> 00:04:46,039 Speaker 1: Why it's important what they're saying compared to the rest 93 00:04:46,040 --> 00:04:49,720 Speaker 1: of the world. I want to talk about why that's important. 94 00:04:49,760 --> 00:04:53,120 Speaker 1: But even something bigger than that. So what you may 95 00:04:53,160 --> 00:04:56,400 Speaker 1: not know is that the Central Bank, well actually say, 96 00:04:56,440 --> 00:04:59,479 Speaker 1: the United States is just a smaller player on a 97 00:04:59,560 --> 00:05:02,320 Speaker 1: much bigger stage. We're gonna talk about who's really pulling 98 00:05:02,360 --> 00:05:03,800 Speaker 1: the strings up at the top. And I want to 99 00:05:03,800 --> 00:05:06,120 Speaker 1: play some quotes of what they actually said. I want 100 00:05:06,120 --> 00:05:08,360 Speaker 1: to talk about some of the implications of what they're 101 00:05:08,360 --> 00:05:11,520 Speaker 1: actually saying and what this really means. They're not they're 102 00:05:11,520 --> 00:05:15,240 Speaker 1: saying it. Biden didn't say it, but the people up 103 00:05:15,279 --> 00:05:18,080 Speaker 1: above are saying it. I'm gonna play some clips of 104 00:05:18,080 --> 00:05:20,960 Speaker 1: what they're actually saying, which will help you bring into 105 00:05:21,240 --> 00:05:23,920 Speaker 1: um some perspective what Biden said through the executive order. 106 00:05:24,400 --> 00:05:26,640 Speaker 1: I want to dig into some of the implications of this. 107 00:05:26,720 --> 00:05:28,640 Speaker 1: And so we have some of these pieces that have 108 00:05:28,680 --> 00:05:30,320 Speaker 1: already been used, and I want to talk to some 109 00:05:30,680 --> 00:05:34,159 Speaker 1: historical relevance and reference of how well it's actually worked 110 00:05:34,240 --> 00:05:37,360 Speaker 1: or or not worked, the problems of that, UM, and 111 00:05:37,400 --> 00:05:42,560 Speaker 1: then I want to talk about the reality of if 112 00:05:42,600 --> 00:05:44,279 Speaker 1: this can even happen. We're gonna look at some of 113 00:05:44,279 --> 00:05:48,039 Speaker 1: the past past performance that the government has had had 114 00:05:48,080 --> 00:05:51,159 Speaker 1: with the technology, and so much more. I had a 115 00:05:51,160 --> 00:05:53,080 Speaker 1: lot to cover this hour, UM, so I'm gonna try 116 00:05:53,080 --> 00:05:55,520 Speaker 1: and get through it pretty quickly. UM. By the way, 117 00:05:55,560 --> 00:05:57,360 Speaker 1: you're listening to the Mark mo Show, we're talking about 118 00:05:57,360 --> 00:06:00,520 Speaker 1: the decentralized revolution. We're talking about the way take chnology 119 00:06:00,640 --> 00:06:03,000 Speaker 1: changes the way the world works. We're talking, of course 120 00:06:03,040 --> 00:06:07,200 Speaker 1: about the decentralized revolution, which is bitcoin, the intersection of politics, finance, 121 00:06:07,240 --> 00:06:10,760 Speaker 1: and technology. So UM, back to what we're talking about. So, 122 00:06:11,120 --> 00:06:14,720 Speaker 1: the White House, the Biden administration put this executive order. 123 00:06:14,760 --> 00:06:19,920 Speaker 1: It says Executive Order on Ensuring Responsible Development of Digital Assets. 124 00:06:20,760 --> 00:06:24,520 Speaker 1: They call them digital assets. UM, crypto assets, cryptocurrencies, whatever 125 00:06:24,520 --> 00:06:27,520 Speaker 1: you want to call them, and that's what they're referring to. UM. 126 00:06:27,560 --> 00:06:29,920 Speaker 1: And it starts off by the authority vested in me 127 00:06:29,960 --> 00:06:33,160 Speaker 1: as the President, by the Constitution and the laws of 128 00:06:33,200 --> 00:06:36,760 Speaker 1: the United States of America has hereby ordered as follows. 129 00:06:37,200 --> 00:06:39,240 Speaker 1: So it's important to understand is that the United States 130 00:06:39,279 --> 00:06:43,320 Speaker 1: was UM it's not a it's not a democracy. It's 131 00:06:43,320 --> 00:06:46,960 Speaker 1: certainly not a dictatorship the dictators where one guy makes 132 00:06:47,000 --> 00:06:49,800 Speaker 1: all the rules. UM. It's it's not even a democracy, 133 00:06:49,839 --> 00:06:53,400 Speaker 1: which is a form of mob rule or UM it's 134 00:06:53,400 --> 00:06:56,400 Speaker 1: a tyranny of the minority by the majority. The United 135 00:06:56,400 --> 00:06:58,960 Speaker 1: States is a republic, which is a representative government. So 136 00:06:59,040 --> 00:07:03,039 Speaker 1: we were elect congressmen and representatives to go to Washington 137 00:07:03,120 --> 00:07:07,040 Speaker 1: for us. One thing that's interesting about that, just acide tidbit, 138 00:07:07,480 --> 00:07:09,520 Speaker 1: is that, you know, when the United States was founded, 139 00:07:09,880 --> 00:07:13,360 Speaker 1: we had UM representatives that were supposed to represent a 140 00:07:13,360 --> 00:07:17,240 Speaker 1: certain group of people. UM. But as the population of 141 00:07:17,280 --> 00:07:20,040 Speaker 1: the United States has just blown up from where it 142 00:07:20,120 --> 00:07:23,119 Speaker 1: was when we first founded, we haven't increased the amount 143 00:07:23,160 --> 00:07:26,360 Speaker 1: of representatives, and so a lot of centralization has happened. 144 00:07:26,440 --> 00:07:29,800 Speaker 1: But that's another story for another day. UM. But back 145 00:07:29,840 --> 00:07:31,920 Speaker 1: to this. UM. The reason why I bring this up 146 00:07:31,960 --> 00:07:34,120 Speaker 1: is that, like I said, the United States isn't a dictator, 147 00:07:35,000 --> 00:07:37,120 Speaker 1: but yet these are sort of like that. So in 148 00:07:37,160 --> 00:07:39,760 Speaker 1: the United States, we're supposed to have a separation of powers, 149 00:07:40,160 --> 00:07:43,840 Speaker 1: and so through the separation of powers, UM, it limits 150 00:07:43,880 --> 00:07:46,360 Speaker 1: the amount of power that any one person or any 151 00:07:46,400 --> 00:07:50,240 Speaker 1: one group or sector of the government has. And so 152 00:07:50,280 --> 00:07:52,160 Speaker 1: then there's things we're supposed to go through, you know, 153 00:07:52,920 --> 00:07:56,200 Speaker 1: a framework, and so we have representatives that are supposed 154 00:07:56,240 --> 00:07:58,760 Speaker 1: to represent our interests there. And then then we have 155 00:07:58,840 --> 00:08:00,480 Speaker 1: the House, and we have the cang rise which are 156 00:08:00,480 --> 00:08:02,400 Speaker 1: supposed to be split up, and of course that we 157 00:08:02,480 --> 00:08:05,400 Speaker 1: have the executive branch, which is the President, et cetera. UM. 158 00:08:05,400 --> 00:08:09,200 Speaker 1: But an executive order, like what he's saying here means 159 00:08:09,520 --> 00:08:13,679 Speaker 1: I am king, I bypass, I override. I don't care 160 00:08:14,360 --> 00:08:18,160 Speaker 1: what anybody else says. I don't care what do people want. 161 00:08:18,360 --> 00:08:20,840 Speaker 1: I don't care what their representatives say. I don't care 162 00:08:20,880 --> 00:08:23,720 Speaker 1: about the House of the Congress. I am going to 163 00:08:23,800 --> 00:08:27,920 Speaker 1: decide by myself unilaterally that I'm going to make these decisions. 164 00:08:28,120 --> 00:08:31,880 Speaker 1: So just kind of I tell you what that means. Now. UM. 165 00:08:31,920 --> 00:08:35,319 Speaker 1: As a side note, again, we have gas prices going 166 00:08:35,320 --> 00:08:37,920 Speaker 1: sky high in Los Angeles or over seven dollars a gallon, 167 00:08:37,920 --> 00:08:41,520 Speaker 1: which is insane. Um. Gas gas prices when Biden took 168 00:08:41,559 --> 00:08:44,000 Speaker 1: office where I think two dollars and thirty cents a 169 00:08:44,040 --> 00:08:48,120 Speaker 1: gallon nationally. I made it. I made a claim. I 170 00:08:48,200 --> 00:08:51,360 Speaker 1: made a prediction that gas would be over ten dollars 171 00:08:51,440 --> 00:08:53,800 Speaker 1: by the time Biden left office. Of course, when there 172 00:08:53,800 --> 00:08:55,320 Speaker 1: are two dollars and thirty cents, that was a pretty 173 00:08:55,360 --> 00:08:57,920 Speaker 1: big claim. Um. But yet here we are over seven bucks. 174 00:08:58,240 --> 00:09:00,360 Speaker 1: We're not too far behind now. Uh. Some of my 175 00:09:00,440 --> 00:09:04,240 Speaker 1: track record if you watch my YouTube channel, UM September 176 00:09:04,280 --> 00:09:07,760 Speaker 1: of I made a video saying that we would have 177 00:09:07,800 --> 00:09:09,960 Speaker 1: an energy crisis coming to the rest of the world. 178 00:09:10,440 --> 00:09:12,640 Speaker 1: I made a video nine months ago seeing we were 179 00:09:12,679 --> 00:09:15,040 Speaker 1: going to have a food crisis coming to the rest 180 00:09:15,080 --> 00:09:18,160 Speaker 1: of the world. And uh, here we are. UM, a 181 00:09:18,200 --> 00:09:20,520 Speaker 1: lot more to go. Don't go away, I'll be right back, 182 00:09:21,360 --> 00:09:23,360 Speaker 1: all right, welcome back. You are listening to the Mark 183 00:09:23,440 --> 00:09:27,160 Speaker 1: Moa Show, and we're talking about the decentralas revolution that 184 00:09:27,160 --> 00:09:29,720 Speaker 1: we are witnessing right now. We're talking about history being 185 00:09:29,760 --> 00:09:32,160 Speaker 1: made literally as we speak now. For a lot of people, 186 00:09:32,160 --> 00:09:35,720 Speaker 1: they're not paying attention. Maybe You don't realize how monumental 187 00:09:36,440 --> 00:09:38,640 Speaker 1: these changes are that we're seeing right now. Um, but 188 00:09:38,679 --> 00:09:42,520 Speaker 1: they're happening. It's happening. It's gonna have massive, massive implications 189 00:09:42,880 --> 00:09:45,640 Speaker 1: for the future. And uh, you should be paying attention. Now. 190 00:09:45,800 --> 00:09:47,360 Speaker 1: What I was talking about before the break is I 191 00:09:47,400 --> 00:09:50,640 Speaker 1: was talking about, UM, the Biden administration. The White House 192 00:09:50,640 --> 00:09:54,160 Speaker 1: put together an executive order, UM, the executive Order, and 193 00:09:54,200 --> 00:09:57,160 Speaker 1: as I was saying, is basically he is, uh, you know, 194 00:09:57,240 --> 00:10:01,120 Speaker 1: kind of being a dictator. I bypass all rep resentatives, Congress, House, 195 00:10:01,360 --> 00:10:03,080 Speaker 1: what the people want, and I'm just going to declare 196 00:10:03,120 --> 00:10:06,520 Speaker 1: this to be um a thing. UM. And so that's 197 00:10:06,559 --> 00:10:09,640 Speaker 1: what he put forth. This was just just just this week. Um. 198 00:10:09,679 --> 00:10:12,400 Speaker 1: The whole cryptocurrency world and really the financial world was 199 00:10:12,440 --> 00:10:14,600 Speaker 1: all standing by waiting to see what was going to happen. 200 00:10:15,240 --> 00:10:19,360 Speaker 1: And UM, what's funny was that actually it involves obviously 201 00:10:19,400 --> 00:10:21,719 Speaker 1: the White House and and the and the Treasury as well, 202 00:10:21,800 --> 00:10:25,319 Speaker 1: Janet Yellen and the Treasury, and uh, the night before 203 00:10:25,880 --> 00:10:28,360 Speaker 1: the executive order was released, everybody was waiting for the 204 00:10:28,440 --> 00:10:31,480 Speaker 1: executive order to be released. And the night before the 205 00:10:31,559 --> 00:10:36,880 Speaker 1: Treasury Janet Yellen put out UM her press release UM 206 00:10:36,920 --> 00:10:41,080 Speaker 1: with her comments on what the executive order was spoiler alert. 207 00:10:42,440 --> 00:10:44,160 Speaker 1: So while everybody was waiting for the EO to find 208 00:10:44,160 --> 00:10:46,959 Speaker 1: out what was going to happen, UM, Janet Yellen had 209 00:10:47,280 --> 00:10:50,120 Speaker 1: already read it and put out her comments, and so 210 00:10:50,160 --> 00:10:52,480 Speaker 1: it kind of took some of the surprise out. We 211 00:10:52,480 --> 00:10:54,720 Speaker 1: we read. We read that it quickly got taken down, 212 00:10:54,760 --> 00:10:57,320 Speaker 1: but of course the Internet is basically permanent, and it 213 00:10:57,360 --> 00:10:58,840 Speaker 1: was captured and we were able to read what that 214 00:10:59,000 --> 00:11:02,360 Speaker 1: was and when when the when when Janet Yellen put 215 00:11:02,400 --> 00:11:05,280 Speaker 1: out her comments on what Biden's executive order was going 216 00:11:05,320 --> 00:11:09,680 Speaker 1: to be, UM, we found out it was somewhat harmless. UM. 217 00:11:09,880 --> 00:11:12,960 Speaker 1: The price of bitcoin and cryptocurrencies rallied, rallied pretty hard, 218 00:11:13,000 --> 00:11:15,040 Speaker 1: which was pretty interesting in the market, Like I said, 219 00:11:15,120 --> 00:11:17,400 Speaker 1: was all standing by to wait and see what was 220 00:11:17,440 --> 00:11:20,800 Speaker 1: going to happen. UM, and we saw a bitcoin really pump. 221 00:11:20,880 --> 00:11:22,600 Speaker 1: As a matter of fact, I think it's shot from 222 00:11:22,640 --> 00:11:26,800 Speaker 1: about thirty eight thousand back up to like forty two thousands, 223 00:11:26,800 --> 00:11:29,280 Speaker 1: so pretty good, pretty good sized move. UM. It's it's 224 00:11:29,320 --> 00:11:31,280 Speaker 1: since come down a little bit since then, but that 225 00:11:31,360 --> 00:11:34,640 Speaker 1: was about, you know, almost a ten percent move, which 226 00:11:34,640 --> 00:11:37,480 Speaker 1: is which is pretty considerable. But back to the Executive Order. 227 00:11:37,480 --> 00:11:39,880 Speaker 1: What's in there? Um, Like I said, it wasn't wasn't 228 00:11:39,880 --> 00:11:41,959 Speaker 1: a lot of teeth. It's again more of an announcement. 229 00:11:42,000 --> 00:11:45,760 Speaker 1: So Section one policy Advances in Digital and Distributed Ledger 230 00:11:45,800 --> 00:11:52,880 Speaker 1: technology for financial services. He says, UM have profound implications 231 00:11:52,920 --> 00:11:56,559 Speaker 1: for the protection of consumers, investors, and businesses, including data 232 00:11:56,600 --> 00:12:03,280 Speaker 1: privacy and security, financial stability and system attic risk, systemic risk, crime, 233 00:12:03,360 --> 00:12:07,880 Speaker 1: national security, the ability to exercise human rights, financial inclusion 234 00:12:08,120 --> 00:12:10,839 Speaker 1: and equity, and energy demand and climate change. So he's 235 00:12:10,880 --> 00:12:12,600 Speaker 1: kind of setting this up. This is this is the 236 00:12:12,640 --> 00:12:16,240 Speaker 1: importance of what's here. Um. Now, first of all, advances 237 00:12:16,240 --> 00:12:20,360 Speaker 1: in digital and distributed ledger technology UM d l T. 238 00:12:21,520 --> 00:12:24,839 Speaker 1: It's a bunch of mumbo jumbo means nothing. Bitcoin is decentralized, 239 00:12:24,880 --> 00:12:28,120 Speaker 1: meaning instead of one database, there's um thousands or millions 240 00:12:28,120 --> 00:12:31,760 Speaker 1: of databases. They're calling it distributed ledger. Okay, Um, profound 241 00:12:31,760 --> 00:12:36,280 Speaker 1: implications for protection of consumers. Yeah, that's always their main concern, right, Um. 242 00:12:36,320 --> 00:12:38,520 Speaker 1: And then I love this part though, the ability to 243 00:12:38,720 --> 00:12:44,720 Speaker 1: exercise human rights and financial inclusion. Think about that. So 244 00:12:44,800 --> 00:12:47,480 Speaker 1: financial inclusion, there's about two billion adults in the world 245 00:12:47,520 --> 00:12:51,679 Speaker 1: today that have no access to banking why is that, Well, 246 00:12:52,559 --> 00:12:55,720 Speaker 1: the primary reason is because they're not allowed. The financial 247 00:12:55,800 --> 00:12:59,200 Speaker 1: system is a permission based system, and so right now, 248 00:12:59,320 --> 00:13:01,559 Speaker 1: if you're a rush and living in the United States, 249 00:13:02,440 --> 00:13:04,360 Speaker 1: you're not allowed to be in the financial system. So 250 00:13:04,720 --> 00:13:07,480 Speaker 1: they're talking about inclusion, but it's their laws that are 251 00:13:07,679 --> 00:13:10,480 Speaker 1: making it so people aren't included. Has nothing to do 252 00:13:10,480 --> 00:13:11,920 Speaker 1: with the money. The other thing I love this the 253 00:13:11,920 --> 00:13:18,840 Speaker 1: ability to exercise human rights. There is no rights without 254 00:13:18,840 --> 00:13:22,360 Speaker 1: the ability to transact, period. So how can I have 255 00:13:22,440 --> 00:13:25,760 Speaker 1: the ability to exercise human rights in their words, without 256 00:13:25,800 --> 00:13:28,280 Speaker 1: the ability to transact? Well, if I'm not I'm not 257 00:13:28,320 --> 00:13:31,120 Speaker 1: allowed to be including the financial system, then I don't 258 00:13:31,120 --> 00:13:34,040 Speaker 1: have the freedom to transact. So it's interesting they say that. Um. 259 00:13:34,080 --> 00:13:38,320 Speaker 1: But anyway, he also says that monetary authorities globally are 260 00:13:38,360 --> 00:13:42,240 Speaker 1: also exploring, in some cases introducing essential bank digital currency, 261 00:13:42,679 --> 00:13:44,920 Speaker 1: and so this is really what the whole objective of 262 00:13:44,920 --> 00:13:47,760 Speaker 1: this executive order is. So one, how are we going 263 00:13:47,800 --> 00:13:51,440 Speaker 1: to study and regulate cryptocurrencies and to how are we 264 00:13:51,480 --> 00:13:56,079 Speaker 1: going to push force our own central bank digital currency? Um. 265 00:13:56,120 --> 00:13:58,440 Speaker 1: He went on to say, Well, I don't think. He 266 00:13:58,480 --> 00:14:00,040 Speaker 1: went on to say, I think whoever wrote this for 267 00:14:00,120 --> 00:14:02,400 Speaker 1: I wanted to say we must take strong steps to 268 00:14:02,440 --> 00:14:06,439 Speaker 1: reduce the risks that digital assets could pose to consumers, 269 00:14:06,440 --> 00:14:10,960 Speaker 1: investors in business protections. I say that with some sarcasm 270 00:14:11,000 --> 00:14:14,680 Speaker 1: because they're not so concerned with the risks that consumers 271 00:14:14,720 --> 00:14:18,120 Speaker 1: or investors take when you go to Vegas or when 272 00:14:18,120 --> 00:14:20,640 Speaker 1: you buy a lottery tickets. They don't care about that. 273 00:14:20,680 --> 00:14:25,800 Speaker 1: They know you have no chance of winning, and yet whatever, right, Um, anyway, 274 00:14:25,840 --> 00:14:27,760 Speaker 1: that's a whole another story. We can get to do 275 00:14:27,800 --> 00:14:32,040 Speaker 1: about the sec and investor protections and customer protections. Um. 276 00:14:32,080 --> 00:14:33,840 Speaker 1: But then they go want to talk about the financial 277 00:14:33,840 --> 00:14:39,280 Speaker 1: stability and financial system integrity, combating and preventing crime and 278 00:14:39,320 --> 00:14:43,400 Speaker 1: illicit finance, national security, the ability to exercise human rights. 279 00:14:43,400 --> 00:14:44,760 Speaker 1: So I want to I'm gonna dig into a couple 280 00:14:44,800 --> 00:14:48,760 Speaker 1: of those pieces. But the objectives are, um, protect consumers, 281 00:14:48,960 --> 00:14:51,600 Speaker 1: all right, So protect people? Um, the United States should 282 00:14:51,680 --> 00:14:54,239 Speaker 1: ensure the safeguards are in place and promote the responsible 283 00:14:54,280 --> 00:14:57,640 Speaker 1: development of digital assets to protect consumers. Well, I think 284 00:14:57,680 --> 00:14:59,800 Speaker 1: that you're pretty smart. I think I'm pretty smart. I 285 00:14:59,800 --> 00:15:02,000 Speaker 1: think I'm smart enough to think about myself. I think 286 00:15:02,040 --> 00:15:03,920 Speaker 1: you're smart enough to think about yourself. If you're smart 287 00:15:04,000 --> 00:15:06,360 Speaker 1: enough to decide if you want to drink alcohol, vote, 288 00:15:06,560 --> 00:15:09,080 Speaker 1: vote for the president, or buy a lottery ticket. I 289 00:15:09,080 --> 00:15:10,560 Speaker 1: think you're smart enough to decide if you want to 290 00:15:10,600 --> 00:15:12,880 Speaker 1: use cryptocurrencies. I don't think we need the nanny state 291 00:15:13,000 --> 00:15:15,360 Speaker 1: the government to protect you from that. UM. And then 292 00:15:15,360 --> 00:15:17,040 Speaker 1: they also want to protect the United States and global 293 00:15:17,080 --> 00:15:22,360 Speaker 1: financial stability. UM. Now, part of protecting the US financial 294 00:15:22,360 --> 00:15:26,120 Speaker 1: stability is to make sure there's no competitors there. They 295 00:15:26,200 --> 00:15:28,960 Speaker 1: go on to say, Section C, we must mitigate the 296 00:15:29,000 --> 00:15:33,160 Speaker 1: illicit finance and national security risks. And that's what I 297 00:15:33,200 --> 00:15:36,240 Speaker 1: want to dig into next. But really it's about pushing 298 00:15:36,320 --> 00:15:42,800 Speaker 1: this central bank digital currencies UM and protecting UM, the people, 299 00:15:42,800 --> 00:15:46,120 Speaker 1: the system from this illicit finance and national security risk. 300 00:15:46,160 --> 00:15:49,000 Speaker 1: So we're gonna talk about each of those sections. UM. First, 301 00:15:50,360 --> 00:15:53,720 Speaker 1: mitigate illicital, illicit financial, and national security risk. Okay, so 302 00:15:53,760 --> 00:15:55,320 Speaker 1: that sounds pretty good. Right. They go on to say, 303 00:15:56,440 --> 00:15:59,960 Speaker 1: including money laundering. I guess that sounds bad. UM, narcotics, 304 00:16:00,120 --> 00:16:03,800 Speaker 1: human trafficking, Well, that's certainly bad. I don't like that. UM. Terrorism, sure, 305 00:16:03,840 --> 00:16:06,520 Speaker 1: I mean, who likes terrorism? Sounds good? Right? And prolif 306 00:16:06,840 --> 00:16:10,560 Speaker 1: proliferation financing. Okay, So they want to stop these and 307 00:16:10,760 --> 00:16:12,640 Speaker 1: they say that digital assets maybe used as a tool 308 00:16:12,720 --> 00:16:17,760 Speaker 1: to circumvent u S and foreign financial sanction regimes UM 309 00:16:17,840 --> 00:16:19,440 Speaker 1: and so it says, well, the United States has been 310 00:16:19,440 --> 00:16:22,360 Speaker 1: a leader in setting international standards for the regulation and 311 00:16:22,400 --> 00:16:26,880 Speaker 1: supervision of digital assets for anti money laundring and counter terrorism. 312 00:16:27,480 --> 00:16:30,480 Speaker 1: It says that countering the financing of terrorism, which is 313 00:16:30,520 --> 00:16:33,920 Speaker 1: known as a m l Anti money laundering m l. 314 00:16:35,760 --> 00:16:38,760 Speaker 1: He says that with poor non existent implementations of those standards, 315 00:16:38,760 --> 00:16:43,680 Speaker 1: some jurisdictions can present significance significant illicit financing risks for 316 00:16:43,680 --> 00:16:46,320 Speaker 1: the United States and global financial system. So the United 317 00:16:46,320 --> 00:16:48,800 Speaker 1: States has set up this a m l Anti money 318 00:16:48,920 --> 00:16:51,120 Speaker 1: laundring and they've set up an f a t F 319 00:16:51,400 --> 00:16:55,320 Speaker 1: Financial Action Task Force, and they've set this up to 320 00:16:56,000 --> 00:17:03,800 Speaker 1: UM prohibit elicit financing, prohibit money laundering, prohibit the use 321 00:17:03,840 --> 00:17:07,600 Speaker 1: of money laundering, to stop human trafficking, terrorism, and so forth. 322 00:17:08,640 --> 00:17:12,359 Speaker 1: But does it work well, you might be surprised to 323 00:17:12,400 --> 00:17:15,560 Speaker 1: find out. I actually have some of those results right here, 324 00:17:15,560 --> 00:17:18,080 Speaker 1: and even more importantly than some of the results, I 325 00:17:18,200 --> 00:17:20,399 Speaker 1: have some of the costs. So we always have to 326 00:17:20,400 --> 00:17:24,520 Speaker 1: think about the cost benefit analysis. What is the trade offs? 327 00:17:24,640 --> 00:17:27,359 Speaker 1: Nothing comes without a cost, and so I have some 328 00:17:27,480 --> 00:17:31,280 Speaker 1: stats that are going to blow your mind when I 329 00:17:31,320 --> 00:17:34,000 Speaker 1: read these for you. Next. Uh, make sure you're here, 330 00:17:34,160 --> 00:17:35,800 Speaker 1: by the way. You're listening to the Markma Show. We're 331 00:17:35,840 --> 00:17:39,280 Speaker 1: talking about the intersection of politics, finance, and technology. We're 332 00:17:39,280 --> 00:17:43,480 Speaker 1: talking about the decentralized revolution. We're talking about bitcoin and cryptocurrencies, 333 00:17:43,480 --> 00:17:45,000 Speaker 1: just like the White House is talking about them here 334 00:17:45,040 --> 00:17:48,360 Speaker 1: in this um executive order of the Biden White House 335 00:17:48,400 --> 00:17:50,720 Speaker 1: put together. I want to explain to you what it 336 00:17:50,840 --> 00:17:52,880 Speaker 1: says here, and I want to explain to you what 337 00:17:52,920 --> 00:17:54,719 Speaker 1: we know of the cost benefits. Like I said, I'm 338 00:17:54,720 --> 00:17:56,359 Speaker 1: gonna tell you some of these numbers and it's gonna 339 00:17:56,400 --> 00:17:58,480 Speaker 1: blow your mind. And then we're gonna talk about the 340 00:17:58,480 --> 00:18:01,080 Speaker 1: Central bank digital currencies and what they're really telling us 341 00:18:01,119 --> 00:18:03,320 Speaker 1: in their own words. You're going to be surprised. I 342 00:18:03,320 --> 00:18:05,000 Speaker 1: have a lot more. So do not go away. I'll 343 00:18:05,000 --> 00:18:07,680 Speaker 1: be right back, all right, Welcome back. You're listening to 344 00:18:07,720 --> 00:18:11,919 Speaker 1: the Markma Show. We're talking about the intersection of politics, finance, 345 00:18:11,960 --> 00:18:14,960 Speaker 1: and technology. We're talking about the decentralized revolution, which of 346 00:18:15,000 --> 00:18:18,640 Speaker 1: course is bitcoin and cryptocurrencies, and we're specifically talking about 347 00:18:19,640 --> 00:18:23,840 Speaker 1: the White House. The Biden administration put together an executive 348 00:18:24,000 --> 00:18:26,800 Speaker 1: order means I don't care what anybody says. This is 349 00:18:26,800 --> 00:18:28,760 Speaker 1: what I say because I'm the dictator. Well he didn't 350 00:18:28,760 --> 00:18:30,199 Speaker 1: really say as a dictator, but that's basically what an 351 00:18:30,200 --> 00:18:33,560 Speaker 1: executive order is. And they're talking about, Um, they need 352 00:18:33,600 --> 00:18:37,080 Speaker 1: to protect. They need to protect everybody because without the government, 353 00:18:37,119 --> 00:18:39,600 Speaker 1: what would we do. I need them for my safety. 354 00:18:39,920 --> 00:18:42,960 Speaker 1: How can I sleep at night? Um? Criminals would run 355 00:18:43,080 --> 00:18:45,520 Speaker 1: wild across the world if it wasn't for the government 356 00:18:45,560 --> 00:18:49,159 Speaker 1: protecting us from ourselves, Right, that's what they say. So, Um, 357 00:18:49,160 --> 00:18:51,680 Speaker 1: they said that the United States needs to make sure 358 00:18:51,680 --> 00:18:57,040 Speaker 1: there's proper regulation and supervision for digital assets for anti 359 00:18:57,240 --> 00:19:00,680 Speaker 1: money laundering a mL. So to talk about that for 360 00:19:00,720 --> 00:19:03,440 Speaker 1: a second, So, um a m L anti money laundering. 361 00:19:03,440 --> 00:19:06,080 Speaker 1: And there's also KYC Know your customer. So if you've 362 00:19:06,119 --> 00:19:08,280 Speaker 1: ever set up a bank account, which I'm sure you have, 363 00:19:08,400 --> 00:19:11,639 Speaker 1: or a cryptocurrency account, you probably know what k y 364 00:19:11,680 --> 00:19:13,720 Speaker 1: C is that to know your customers, So the bank 365 00:19:14,000 --> 00:19:16,800 Speaker 1: or the cryptocurrency exchange, coin based crack and gemine, etcetera, 366 00:19:17,119 --> 00:19:19,439 Speaker 1: they have to collect all your information. They need to 367 00:19:19,440 --> 00:19:22,000 Speaker 1: know your name and your address, and they have to 368 00:19:22,040 --> 00:19:24,920 Speaker 1: scan your driver's license and there you have to upload 369 00:19:25,359 --> 00:19:27,600 Speaker 1: your passport and you have to sign your name on 370 00:19:27,640 --> 00:19:29,280 Speaker 1: a piece of paper and take a picture of you 371 00:19:29,359 --> 00:19:32,639 Speaker 1: holding it, and you probably have all this information so 372 00:19:32,680 --> 00:19:36,119 Speaker 1: they can know you know your customer. So part of 373 00:19:36,160 --> 00:19:38,879 Speaker 1: the A M l antimoney laundering is k y C 374 00:19:39,280 --> 00:19:41,920 Speaker 1: no your customer. All right, well that sounds good. Right. 375 00:19:42,160 --> 00:19:45,320 Speaker 1: They have to collect all of our information to stop terrorism, right, 376 00:19:46,200 --> 00:19:50,960 Speaker 1: and nobody wants terrorism, So we should all be inconvenienced 377 00:19:51,160 --> 00:19:53,960 Speaker 1: and we should all give up all of our information. 378 00:19:54,160 --> 00:19:57,879 Speaker 1: We should all give up all of our privacy so 379 00:19:58,000 --> 00:20:02,400 Speaker 1: we can stop these horrible, horrible, horrible things. Right. I mean, 380 00:20:02,520 --> 00:20:04,800 Speaker 1: I'm sure lots of you listening right now are saying, yes, Mark, 381 00:20:04,840 --> 00:20:08,680 Speaker 1: that's absolutely true. I'm I'm perfectly okay being inconvenience and 382 00:20:09,200 --> 00:20:12,960 Speaker 1: given it my privacy so we can stop these bad things. Okay, great, 383 00:20:14,040 --> 00:20:17,439 Speaker 1: but does it work? Well? You might be surprised. So 384 00:20:17,480 --> 00:20:20,560 Speaker 1: what we see here UM estimates here by a by 385 00:20:20,560 --> 00:20:24,240 Speaker 1: a recent research report says that UM there's nine there's 386 00:20:24,280 --> 00:20:27,840 Speaker 1: over ninety trillion dollars in gross domestic product in GDP. 387 00:20:27,960 --> 00:20:30,800 Speaker 1: That's the amount of transactions or business or commerce that's 388 00:20:30,840 --> 00:20:36,480 Speaker 1: being done globally. Ninety trillion dollars. Of that ninety trillion dollars, 389 00:20:36,600 --> 00:20:42,800 Speaker 1: approximately three per cent is criminal. So that means that 390 00:20:42,840 --> 00:20:45,600 Speaker 1: criminals are doing bad things. Now, for the most part, 391 00:20:47,400 --> 00:20:51,320 Speaker 1: if the government hasn't given you a permit, then it's criminal. 392 00:20:51,480 --> 00:20:56,399 Speaker 1: So what what What what's deemed criminal and what I 393 00:20:56,560 --> 00:21:00,000 Speaker 1: might and you might actually consider criminal are two different things. Right. Obviously, 394 00:21:00,320 --> 00:21:02,800 Speaker 1: we're all against child trafficking. We all agree on that. 395 00:21:02,840 --> 00:21:05,479 Speaker 1: I can't imagine anybody except for a very very very 396 00:21:05,480 --> 00:21:08,320 Speaker 1: tiny small percentage, but pretty much everyone agrees that that's bad. 397 00:21:08,400 --> 00:21:13,720 Speaker 1: That's criminal. Um maybe um, you know, moving drugs, Okay, 398 00:21:13,760 --> 00:21:16,439 Speaker 1: so that's criminal. Okay. So there's there's things we can 399 00:21:16,480 --> 00:21:18,399 Speaker 1: agree on, but there's things that maybe we don't agree 400 00:21:18,440 --> 00:21:20,679 Speaker 1: on and maybe shouldn't be illegal. But anyway, well we're 401 00:21:20,680 --> 00:21:23,680 Speaker 1: not gonna get into that conversation. So over ninety trillion 402 00:21:23,720 --> 00:21:27,400 Speaker 1: dollars of GDP and about three per cent is criminal. 403 00:21:27,480 --> 00:21:30,159 Speaker 1: So right off the bat, we know that this k 404 00:21:30,440 --> 00:21:35,120 Speaker 1: y C and this a m l UM is all 405 00:21:35,200 --> 00:21:40,040 Speaker 1: being put into place to potentially maybe stop the three 406 00:21:40,080 --> 00:21:44,399 Speaker 1: percent at the inconvenience and cost of the nine seven percent. 407 00:21:44,480 --> 00:21:48,560 Speaker 1: So people have to deal with this crap to potentially 408 00:21:48,640 --> 00:21:51,440 Speaker 1: maybe help stop the three percent that are doing something wrong, 409 00:21:51,480 --> 00:21:54,240 Speaker 1: but does it work, so you'd be surprised. Per this 410 00:21:54,359 --> 00:21:58,560 Speaker 1: research report, it says that, um these this k y 411 00:21:58,640 --> 00:22:02,439 Speaker 1: C a m L policy captures less than zero point 412 00:22:02,840 --> 00:22:08,840 Speaker 1: one percent of the criminal activity. So three percent of 413 00:22:08,880 --> 00:22:12,080 Speaker 1: the all the transactions in the world are criminal potentially 414 00:22:12,160 --> 00:22:16,320 Speaker 1: whatever they call criminal, and they capture less than zero 415 00:22:16,400 --> 00:22:22,159 Speaker 1: point one percent of that. Wow, So I guess what 416 00:22:22,200 --> 00:22:25,439 Speaker 1: you're saying is it's not very effective. Is that what 417 00:22:25,520 --> 00:22:29,320 Speaker 1: you're saying market doesn't really work? Uh? Yeah, that's exactly 418 00:22:29,359 --> 00:22:33,440 Speaker 1: what we're saying. Now think about this k y C 419 00:22:33,640 --> 00:22:37,640 Speaker 1: Know your customer. First of all, it's super annoying. Right 420 00:22:37,920 --> 00:22:40,239 Speaker 1: every single time I want to go into a new 421 00:22:40,280 --> 00:22:41,760 Speaker 1: website and set up a new account, I have to 422 00:22:41,800 --> 00:22:44,679 Speaker 1: go through this whole process of uploading these documents and 423 00:22:44,720 --> 00:22:48,919 Speaker 1: all that stuff. Super annoying. Um My, my kids, who 424 00:22:48,960 --> 00:22:51,919 Speaker 1: know more about bitcoin than most people, aren't allowed to 425 00:22:52,000 --> 00:22:55,680 Speaker 1: buy bitcoin because they can't pass an a m L 426 00:22:55,800 --> 00:23:01,600 Speaker 1: k y C standard because they're too young, so they're inconvenienced. 427 00:23:01,960 --> 00:23:03,800 Speaker 1: I'm not able to buy a bitcoin from my kids 428 00:23:03,800 --> 00:23:06,840 Speaker 1: because they can't pass this. So it's it's super annoying 429 00:23:07,200 --> 00:23:10,840 Speaker 1: all right. That's first of all, UM too, it's super 430 00:23:11,080 --> 00:23:16,800 Speaker 1: expensive for businesses. So businesses so that the exchanges, the banks, um, 431 00:23:16,880 --> 00:23:19,520 Speaker 1: et cetera, they have to comply with these laws, these rules. 432 00:23:19,560 --> 00:23:22,960 Speaker 1: They're basically UM the government has turned them into UM 433 00:23:23,400 --> 00:23:26,000 Speaker 1: policeman or spies, if you will. They have to capture 434 00:23:26,040 --> 00:23:28,000 Speaker 1: all this data, right, and they have to save it, 435 00:23:28,040 --> 00:23:29,879 Speaker 1: and they have to comply with all these things in 436 00:23:29,880 --> 00:23:32,840 Speaker 1: the way they handle the data, all these things. Estimates 437 00:23:32,880 --> 00:23:40,280 Speaker 1: are that there's two trillion dollars per year spent by 438 00:23:40,359 --> 00:23:43,639 Speaker 1: businesses trying to comply with the k y c A 439 00:23:43,760 --> 00:23:47,800 Speaker 1: m L. That's two percent of the global economy. So 440 00:23:47,880 --> 00:23:52,520 Speaker 1: what that means is that your expenses are two percent 441 00:23:52,760 --> 00:23:55,719 Speaker 1: higher because of this trying to comply with this, so 442 00:23:56,040 --> 00:23:59,280 Speaker 1: inflations raging all time high. As a matter of fact, today, 443 00:23:59,400 --> 00:24:02,960 Speaker 1: UM we saw the new CPI numbers come out seven 444 00:24:03,000 --> 00:24:06,960 Speaker 1: point nine percent. They're doing everything they can to get 445 00:24:06,960 --> 00:24:09,200 Speaker 1: those down, right. Well, if they could drop them by 446 00:24:09,200 --> 00:24:11,760 Speaker 1: two percent right here by just dropping these policies that 447 00:24:11,800 --> 00:24:15,360 Speaker 1: are doing absolutely nothing. But no, never mind that UM, 448 00:24:15,400 --> 00:24:18,080 Speaker 1: so two percent of global economy, two trillion dollars per 449 00:24:18,160 --> 00:24:20,640 Speaker 1: ars sent by that and and these numbers are are 450 00:24:20,680 --> 00:24:25,240 Speaker 1: are just staggering. So some institutions spend up to five 451 00:24:25,600 --> 00:24:32,080 Speaker 1: hundred million dollars annually. Let me repeat that, five hundred 452 00:24:32,160 --> 00:24:36,359 Speaker 1: million dollars annually just to comply with these k y 453 00:24:36,440 --> 00:24:40,679 Speaker 1: c amail UM. Ten percent of businesses, the top the 454 00:24:40,720 --> 00:24:45,480 Speaker 1: top ten percent of the businesses spend at least one 455 00:24:45,720 --> 00:24:50,159 Speaker 1: hundred million dollars each. Now, what could they do with 456 00:24:50,200 --> 00:24:54,159 Speaker 1: that one hundred million dollars each or two trillion dollars anyally? Well, 457 00:24:54,200 --> 00:24:56,560 Speaker 1: they could invest into more research and development and come 458 00:24:56,640 --> 00:24:59,840 Speaker 1: up with new products. They could potentially pass those savings 459 00:25:00,080 --> 00:25:02,679 Speaker 1: to us. They could potentially pay their employees more money, 460 00:25:03,160 --> 00:25:05,440 Speaker 1: and on and on and on. Two trillion dollars a 461 00:25:05,520 --> 00:25:09,240 Speaker 1: year is wasted to capture less than zero point one 462 00:25:09,359 --> 00:25:14,720 Speaker 1: percent of the criminal element. Um. It completely kills freedom. 463 00:25:14,760 --> 00:25:18,720 Speaker 1: Without the freedom to transact, there is no freedom, and 464 00:25:18,800 --> 00:25:22,160 Speaker 1: they are basically stopping it. Like I said, even my my, 465 00:25:22,160 --> 00:25:24,920 Speaker 1: my kids can't even buy bitcoin because of this. So 466 00:25:24,920 --> 00:25:30,080 Speaker 1: it kills freedom, It kills the economy. Um, it's draining 467 00:25:30,119 --> 00:25:33,720 Speaker 1: two percent of the global economy. Two trillion dollars a 468 00:25:33,800 --> 00:25:37,639 Speaker 1: year spent just to keep up with this um. Where 469 00:25:37,680 --> 00:25:42,800 Speaker 1: could that money go? It kills innovation. It literally kills people. 470 00:25:43,359 --> 00:25:45,560 Speaker 1: What do I mean by that? Well, um, there's a 471 00:25:45,720 --> 00:25:49,240 Speaker 1: story of money that was going to Somalia to feed 472 00:25:49,280 --> 00:25:53,280 Speaker 1: starving people. They're they're literally starving to death. Um. You know, 473 00:25:53,320 --> 00:25:55,800 Speaker 1: I'm sure you've all at one point seeing those commercials 474 00:25:55,840 --> 00:25:58,600 Speaker 1: on TV of those starving kids and you could just 475 00:25:58,800 --> 00:26:00,440 Speaker 1: you could send them some money to feed him. Well, 476 00:26:00,640 --> 00:26:03,600 Speaker 1: there was money going to Somemoia to feed these these 477 00:26:03,680 --> 00:26:07,320 Speaker 1: kids that were literally starving to death. And uh, you know, um, 478 00:26:07,359 --> 00:26:10,400 Speaker 1: because they deemed it to be you know, terrorists, terrorists, 479 00:26:11,000 --> 00:26:14,520 Speaker 1: a state that supports terrorism. All funding was cut off 480 00:26:14,560 --> 00:26:16,760 Speaker 1: to Samoyam, so all that money that was going to 481 00:26:16,880 --> 00:26:20,639 Speaker 1: literally save lives couldn't be sent to him anymore. So 482 00:26:20,680 --> 00:26:22,800 Speaker 1: it literally killed people. Like I said, it kills the 483 00:26:22,880 --> 00:26:25,560 Speaker 1: freedom at the cost of two trillion dollars of your 484 00:26:25,560 --> 00:26:28,320 Speaker 1: annually and so and and it accomplishes nothing. It literally 485 00:26:28,359 --> 00:26:31,480 Speaker 1: captures less than zero point one percent. Um. So anyway 486 00:26:31,520 --> 00:26:33,440 Speaker 1: they want to think about that. The other thing to 487 00:26:33,520 --> 00:26:35,800 Speaker 1: understand is that anyone who thinks that k y C 488 00:26:36,000 --> 00:26:41,119 Speaker 1: Know Your Customer makes sense has a complete failure at 489 00:26:41,200 --> 00:26:44,480 Speaker 1: the understanding of how economics works. All right, So, um, 490 00:26:44,520 --> 00:26:47,000 Speaker 1: the reason why we have money in the first place 491 00:26:47,119 --> 00:26:49,479 Speaker 1: is so that I can do business with people I 492 00:26:49,560 --> 00:26:53,920 Speaker 1: don't know, not the other way around. There's a complete 493 00:26:53,920 --> 00:26:56,160 Speaker 1: failure of of economics. I want to break that down. 494 00:26:57,000 --> 00:26:59,359 Speaker 1: I want to break down the next part of what 495 00:26:59,400 --> 00:27:01,880 Speaker 1: the White House Executive Order said, which is Central Bank 496 00:27:01,920 --> 00:27:03,920 Speaker 1: digital currencies. I have a quote I'm gonna give you 497 00:27:04,240 --> 00:27:06,679 Speaker 1: UM from the Bank of International Settlements, and then I 498 00:27:06,720 --> 00:27:12,520 Speaker 1: want to talk about UM, the government's amazing track record 499 00:27:12,600 --> 00:27:15,440 Speaker 1: with dealing with technology. You're gonna love this. Uh. You're 500 00:27:15,480 --> 00:27:18,200 Speaker 1: listening to the markma Show. We're talking about the intersection 501 00:27:18,200 --> 00:27:21,000 Speaker 1: of politics, finance, and technology. We're talking about bitcoin and 502 00:27:21,040 --> 00:27:25,680 Speaker 1: the decentralized revolution. Uh. We're talking about how it's going 503 00:27:25,720 --> 00:27:28,119 Speaker 1: to change the world and what the government's trying to 504 00:27:28,119 --> 00:27:29,720 Speaker 1: do about it. UM. Like I said, I have a 505 00:27:29,720 --> 00:27:31,120 Speaker 1: lot more. I want to talk about the Central Bank 506 00:27:31,160 --> 00:27:35,640 Speaker 1: digital currencies, what the b I S said, UM, governments 507 00:27:35,680 --> 00:27:38,320 Speaker 1: track record with technology, and so much more. Don't go away. 508 00:27:38,400 --> 00:27:40,800 Speaker 1: I'm gonna be right back in a second. All right, 509 00:27:40,840 --> 00:27:43,120 Speaker 1: welcome back. You're listening to the markmas Show. We're talking 510 00:27:43,160 --> 00:27:46,320 Speaker 1: about politics, technology, We're talking about finance, We're talking about 511 00:27:46,320 --> 00:27:49,120 Speaker 1: Bickoen we're talking about the decentralized revolution. We're talking about 512 00:27:49,880 --> 00:27:52,320 Speaker 1: all of the most important subjects that are changing the 513 00:27:52,400 --> 00:27:55,080 Speaker 1: world right now at this time, and we're bringing it 514 00:27:55,280 --> 00:27:58,159 Speaker 1: all into context so you can make sense of it 515 00:27:58,200 --> 00:28:00,440 Speaker 1: all now. Before the break, I was talking about um 516 00:28:00,480 --> 00:28:02,720 Speaker 1: the White House, the Biden administration, the executive Order they 517 00:28:02,760 --> 00:28:06,720 Speaker 1: put together, and how they want to um regulate cryptocurrency 518 00:28:06,760 --> 00:28:09,080 Speaker 1: for our protection. Of course, it's always for our protection. 519 00:28:09,200 --> 00:28:12,040 Speaker 1: We must give up our privacy, we must give up 520 00:28:12,040 --> 00:28:16,119 Speaker 1: our freedom, we must give up our um you know, 521 00:28:16,760 --> 00:28:21,560 Speaker 1: convenience so we're more safe. And we're talking about how 522 00:28:21,640 --> 00:28:25,439 Speaker 1: these k y c amail policies do way more damage 523 00:28:25,520 --> 00:28:27,840 Speaker 1: than good. As a matter of fact, they're pretty much worthless. 524 00:28:27,880 --> 00:28:30,800 Speaker 1: They capture less than zero point one percent of any 525 00:28:30,840 --> 00:28:36,000 Speaker 1: type of criminal acts and put at great harm and 526 00:28:36,119 --> 00:28:39,480 Speaker 1: danger because of that. Um So, I mean, think about it. 527 00:28:39,520 --> 00:28:42,080 Speaker 1: If you have to put all of your information into 528 00:28:42,120 --> 00:28:47,120 Speaker 1: these centralized databases, those are honey pots for criminals. Honeypots 529 00:28:47,160 --> 00:28:50,640 Speaker 1: meaning uh, you know, high value targets for criminals, and 530 00:28:50,720 --> 00:28:55,719 Speaker 1: they get hacked all the time, and your information that 531 00:28:55,760 --> 00:28:59,000 Speaker 1: you've been forced to put your information into the centralized 532 00:28:59,080 --> 00:29:03,880 Speaker 1: databases to may maybe potentially stop. A bad person gets 533 00:29:03,880 --> 00:29:07,680 Speaker 1: hacked by bad people, and your private information ends up 534 00:29:07,800 --> 00:29:15,080 Speaker 1: all over the internet. People are put at risk, are inconvenienced, 535 00:29:15,400 --> 00:29:17,400 Speaker 1: your freedoms are taken away. People around the world are 536 00:29:17,400 --> 00:29:21,160 Speaker 1: literally dyeing. The economy is suffering two maybe hopefully potentially 537 00:29:21,440 --> 00:29:25,200 Speaker 1: capture less than zero point one. That's the that's the numbers. But, 538 00:29:25,240 --> 00:29:27,240 Speaker 1: like I was saying before the break um the fact, 539 00:29:27,280 --> 00:29:29,520 Speaker 1: if you think this even makes sense, you have a 540 00:29:29,560 --> 00:29:33,960 Speaker 1: complete and utter failure to understand the way economics works. So, 541 00:29:34,880 --> 00:29:38,080 Speaker 1: as a business owner, my job is to be known. 542 00:29:38,800 --> 00:29:41,440 Speaker 1: I need to build up a reputation for myself for 543 00:29:41,560 --> 00:29:44,160 Speaker 1: my business. You need to understand or you need to 544 00:29:44,480 --> 00:29:48,160 Speaker 1: come to trust me that you're I'm going to deliver 545 00:29:48,480 --> 00:29:50,960 Speaker 1: this product are good for you. For example, That's what 546 00:29:51,120 --> 00:29:53,960 Speaker 1: like franchises like McDonald's. Like I don't think anybody thinks 547 00:29:54,040 --> 00:29:56,600 Speaker 1: McDonald's is the best food, but you know, wherever you 548 00:29:56,640 --> 00:29:59,120 Speaker 1: go in the world to McDonald's, you know what to expect. 549 00:29:59,240 --> 00:30:02,960 Speaker 1: There's like this level of trust. We know McDonald's. But 550 00:30:03,000 --> 00:30:05,719 Speaker 1: the reason money is there is so McDonald's doesn't have 551 00:30:05,840 --> 00:30:09,080 Speaker 1: to know us. Right in the old days, when we 552 00:30:09,120 --> 00:30:11,680 Speaker 1: have like a barter system like the general store would 553 00:30:11,720 --> 00:30:13,720 Speaker 1: keep like a ledger and they would basically give credit 554 00:30:13,720 --> 00:30:16,520 Speaker 1: to everybody. So they needed to know all the people 555 00:30:16,560 --> 00:30:19,160 Speaker 1: that frequented those stores so when they came in, they 556 00:30:19,200 --> 00:30:21,600 Speaker 1: could give them credit and they know they knew them 557 00:30:21,640 --> 00:30:24,400 Speaker 1: so they could collect money from them later. But money 558 00:30:24,560 --> 00:30:27,320 Speaker 1: was literally invented, so we don't have to know them. 559 00:30:27,320 --> 00:30:29,280 Speaker 1: So I need to know the store. I need to 560 00:30:29,320 --> 00:30:31,479 Speaker 1: trust the store, but the store doesn't need to know 561 00:30:31,560 --> 00:30:34,240 Speaker 1: me because as soon as I give them that money, 562 00:30:35,000 --> 00:30:38,880 Speaker 1: that's all they need. There's no reason the store needs 563 00:30:38,880 --> 00:30:42,600 Speaker 1: my email or my name or my address. And we've 564 00:30:42,640 --> 00:30:45,240 Speaker 1: all been conditioned to think this is normal, but it's not. 565 00:30:46,120 --> 00:30:49,240 Speaker 1: It's not normal at all. There's no reason they need 566 00:30:49,280 --> 00:30:52,120 Speaker 1: to collect this information from us, putting in these databases 567 00:30:52,120 --> 00:30:54,080 Speaker 1: that get hacked all the time. So anybody who thinks 568 00:30:54,120 --> 00:30:56,720 Speaker 1: that this makes sense, like I said, has a complete 569 00:30:56,760 --> 00:31:01,160 Speaker 1: and utter failure to understand how economics works. That's the 570 00:31:01,160 --> 00:31:04,240 Speaker 1: whole point of money. If you give me the product 571 00:31:04,360 --> 00:31:07,160 Speaker 1: and I give you the money, that's all we need 572 00:31:07,200 --> 00:31:11,480 Speaker 1: to know about each other. Now onto the next part. Um, 573 00:31:12,080 --> 00:31:13,920 Speaker 1: see if I can speed up a little bit here. Um, 574 00:31:13,920 --> 00:31:16,680 Speaker 1: what they also talked about is that the United He says, 575 00:31:16,720 --> 00:31:19,120 Speaker 1: Section D, we must reinforce the United States leadership in 576 00:31:19,160 --> 00:31:22,040 Speaker 1: the global financial system. UM. They go on to talk 577 00:31:22,080 --> 00:31:25,680 Speaker 1: about needing to support cross border payments. So people come 578 00:31:25,680 --> 00:31:28,840 Speaker 1: to America to send money back to their family at home, 579 00:31:29,360 --> 00:31:31,560 Speaker 1: and so he says that the Section F we must 580 00:31:31,600 --> 00:31:36,120 Speaker 1: support technological advances. UM. And then, of course, then we 581 00:31:36,200 --> 00:31:40,240 Speaker 1: go into Section four, which is UM bank digital currencies. 582 00:31:40,280 --> 00:31:43,720 Speaker 1: The policy of my administration on a United States Central 583 00:31:43,760 --> 00:31:48,040 Speaker 1: bank digital currency is as follows. He says, sovereign money 584 00:31:48,120 --> 00:31:50,719 Speaker 1: is at the core of well functioning financial system. And 585 00:31:50,760 --> 00:31:53,240 Speaker 1: so they talk about the importance of having a central 586 00:31:53,240 --> 00:31:57,720 Speaker 1: bank digital currency. UM. Because the reason why people want 587 00:31:57,760 --> 00:32:00,720 Speaker 1: to go to bitcoin, UH is because the government doesn't 588 00:32:00,720 --> 00:32:05,160 Speaker 1: have a form of digital money supposedly. Right, No, pretty 589 00:32:05,240 --> 00:32:08,280 Speaker 1: much all of all money transactions are done digitally anyway. 590 00:32:08,400 --> 00:32:11,160 Speaker 1: I mean, I hate to admit it because I harp 591 00:32:11,200 --> 00:32:12,600 Speaker 1: on this stuff all the time, but I don't really 592 00:32:12,640 --> 00:32:15,400 Speaker 1: carry cash around. I use my debit card or my 593 00:32:15,440 --> 00:32:17,360 Speaker 1: credit card everywhere I go, right, I mean, I don't 594 00:32:17,480 --> 00:32:20,080 Speaker 1: who uses cash anymore. So it's already all transactions are 595 00:32:20,120 --> 00:32:23,560 Speaker 1: done digitally. It's people aren't going to bitcoin or cryptocurrencies 596 00:32:23,560 --> 00:32:26,160 Speaker 1: because we don't have a digital form of cash. They're 597 00:32:26,160 --> 00:32:29,680 Speaker 1: going to bitcoin and cryptocurrencies because because the dollars losing 598 00:32:29,800 --> 00:32:32,760 Speaker 1: value so fast, nobody wants to save their money in it. Um. 599 00:32:32,760 --> 00:32:36,600 Speaker 1: So they're completely missing the whole point here, um or 600 00:32:36,640 --> 00:32:40,000 Speaker 1: are they? I want to play a clip of what 601 00:32:40,120 --> 00:32:43,320 Speaker 1: the b I s. The b S is the central 602 00:32:43,320 --> 00:32:45,960 Speaker 1: bank above central banks. I want to play a clip 603 00:32:46,120 --> 00:32:49,120 Speaker 1: of what the head of the b I s. His 604 00:32:49,200 --> 00:32:51,800 Speaker 1: name is Augustine Carston's has to say. Let's go ahead 605 00:32:51,800 --> 00:32:54,960 Speaker 1: and play clip number one. If we tend to establish 606 00:32:55,000 --> 00:32:59,840 Speaker 1: the equivalence with cash, and there is a huge difference there. 607 00:33:00,880 --> 00:33:04,240 Speaker 1: For example, in cash, we don't know, for example, who's 608 00:33:04,360 --> 00:33:07,640 Speaker 1: using a one hundred dollar bill today. We don't know 609 00:33:07,680 --> 00:33:11,800 Speaker 1: who is using the one thousand vestle bill today. So 610 00:33:12,000 --> 00:33:15,760 Speaker 1: um cash um. They they don't know who's using a 611 00:33:15,840 --> 00:33:19,280 Speaker 1: hundred dollar bill, nor should they. That's the whole point. 612 00:33:19,360 --> 00:33:20,840 Speaker 1: If I have a hundred dollar bill and I want 613 00:33:20,840 --> 00:33:22,240 Speaker 1: to do business with you, you give me the good, 614 00:33:22,280 --> 00:33:25,160 Speaker 1: I give you the bill done, Why do they need 615 00:33:25,240 --> 00:33:28,120 Speaker 1: to know? That's he said. That's what he said, right, 616 00:33:28,120 --> 00:33:31,200 Speaker 1: They don't know now, so you can understand, let's play 617 00:33:31,200 --> 00:33:34,720 Speaker 1: the second clip from Augustine from the b S. A 618 00:33:34,840 --> 00:33:39,000 Speaker 1: key difference in with the CBDC is the central Bank 619 00:33:39,240 --> 00:33:44,480 Speaker 1: will have absolute control on the roots and regulations that 620 00:33:44,520 --> 00:33:49,040 Speaker 1: will determine the use of that expression of central brand 621 00:33:49,080 --> 00:33:53,840 Speaker 1: pligeability and also we will have the technology to enforce that. 622 00:33:54,800 --> 00:33:59,920 Speaker 1: Mm hm. I always say, take them at their word. 623 00:34:00,040 --> 00:34:02,560 Speaker 1: Heard it right from his mouth. Um, they don't like 624 00:34:02,680 --> 00:34:05,160 Speaker 1: cash because they don't know who's using a hundred dollar bill, 625 00:34:05,400 --> 00:34:08,919 Speaker 1: nor should they know that. They don't need to know that. Um. 626 00:34:08,960 --> 00:34:11,760 Speaker 1: They like a central bank digital currency because, as he said, 627 00:34:12,480 --> 00:34:19,440 Speaker 1: they have absolute and total control. Absolutely, they're gonna have 628 00:34:19,480 --> 00:34:22,239 Speaker 1: absolute control with rules and regulations that will determine the 629 00:34:22,440 --> 00:34:25,960 Speaker 1: use in the expression of the central bank digital currency, 630 00:34:26,040 --> 00:34:28,160 Speaker 1: and they'll have the technology to do that. So you 631 00:34:28,160 --> 00:34:31,480 Speaker 1: remember in Canada a couple of weeks ago, Um, anybody 632 00:34:31,480 --> 00:34:34,920 Speaker 1: who might have been anywhere involved in that frees their accounts. 633 00:34:34,920 --> 00:34:38,080 Speaker 1: Oh yeah, central bank digital currencies make that easy, just 634 00:34:38,120 --> 00:34:41,400 Speaker 1: click that button, done right, Um. And so they want 635 00:34:41,480 --> 00:34:45,120 Speaker 1: to control all the money through their own financial system. 636 00:34:45,400 --> 00:34:48,120 Speaker 1: And that's what this Central Bank or this executive order did. 637 00:34:48,160 --> 00:34:51,120 Speaker 1: Really put an emphasis on this. He said that section 638 00:34:51,160 --> 00:34:54,160 Speaker 1: B of Section two number B within a hundred and 639 00:34:54,320 --> 00:34:57,640 Speaker 1: eighty days of the data this order, they shall submit 640 00:34:57,680 --> 00:35:00,719 Speaker 1: to the President a report on the future of money 641 00:35:00,760 --> 00:35:04,040 Speaker 1: payment systems based on the potential United States c B 642 00:35:04,360 --> 00:35:08,799 Speaker 1: d C design options. So within a d eight days 643 00:35:08,840 --> 00:35:11,239 Speaker 1: they want to have this rolled out. And why do 644 00:35:11,320 --> 00:35:13,560 Speaker 1: they want to do that? Well, you just heard directly 645 00:35:13,640 --> 00:35:15,160 Speaker 1: from the head of the b I S, now, is 646 00:35:15,200 --> 00:35:18,319 Speaker 1: this really going to happen? Well, Um, I'm running out 647 00:35:18,360 --> 00:35:19,759 Speaker 1: of time here, so I can't really dig in deep 648 00:35:19,760 --> 00:35:23,440 Speaker 1: into this, but we have forty years of failure. The 649 00:35:23,440 --> 00:35:26,400 Speaker 1: I r S has been unable to fix their computer system. 650 00:35:26,480 --> 00:35:28,040 Speaker 1: So for forty years, the i RS has tried and 651 00:35:28,040 --> 00:35:31,080 Speaker 1: failed to update its main computer system, regardless of the 652 00:35:31,120 --> 00:35:34,319 Speaker 1: funding level, regardless of who control of the White House. Um, 653 00:35:34,360 --> 00:35:38,080 Speaker 1: the bureaucracy cannot pull it off. And I have this 654 00:35:38,160 --> 00:35:42,000 Speaker 1: compilation from any starting back in the I r S 655 00:35:42,000 --> 00:35:44,920 Speaker 1: is struggling with data processing system by its own admission, 656 00:35:45,040 --> 00:35:50,000 Speaker 1: all the way to one. It says that the RS 657 00:35:50,000 --> 00:35:52,200 Speaker 1: started developing it in two thousand nine, this new system, 658 00:35:52,200 --> 00:35:55,719 Speaker 1: but it's not scheduled to be finished until development costs 659 00:35:55,760 --> 00:35:59,759 Speaker 1: are now about four times higher than originally planned, and 660 00:36:00,000 --> 00:36:02,640 Speaker 1: now it's only expected to replace the core components of 661 00:36:02,680 --> 00:36:04,600 Speaker 1: the old program as opposed to the entire system. And 662 00:36:04,600 --> 00:36:07,520 Speaker 1: it's not supposed to be done. UM. They've been trying 663 00:36:07,520 --> 00:36:09,000 Speaker 1: to get this done the I R S system for 664 00:36:09,000 --> 00:36:12,040 Speaker 1: forty years. Are they really going to take over the money? 665 00:36:13,000 --> 00:36:14,480 Speaker 1: And if so, do we really think they can do that? 666 00:36:14,640 --> 00:36:17,920 Speaker 1: Remember Obamacare when they rolled that out, UM, a website, 667 00:36:19,000 --> 00:36:21,839 Speaker 1: a simple website where people could go and shop their 668 00:36:21,920 --> 00:36:24,239 Speaker 1: insurance plans. They couldn't get that done. As a matter 669 00:36:24,239 --> 00:36:28,680 Speaker 1: of fact, they spent over two billion dollars to get 670 00:36:28,680 --> 00:36:31,640 Speaker 1: a website up so you can go shop your insurance. 671 00:36:32,080 --> 00:36:34,800 Speaker 1: And this is all because, uh, you know, central planning. 672 00:36:35,360 --> 00:36:38,680 Speaker 1: They can't do it. The incentives are misaligned. I can't 673 00:36:38,719 --> 00:36:40,759 Speaker 1: dig into all that, but hopefully that makes sense to 674 00:36:40,800 --> 00:36:42,880 Speaker 1: you're listening to the Mark Moa show. We're talking about 675 00:36:42,960 --> 00:36:46,960 Speaker 1: this decentralized revolution that we're witnessing right now, and we're 676 00:36:47,000 --> 00:36:52,000 Speaker 1: seeing decentralization versus the centralization of the government, the central 677 00:36:52,040 --> 00:36:54,880 Speaker 1: planners playing out in real time. It's super fascinating. If 678 00:36:54,880 --> 00:36:56,799 Speaker 1: you know what you're paying attention to. UM, you listen 679 00:36:56,880 --> 00:37:00,720 Speaker 1: to the markma show. UM talking about the intersection of politics, finance, 680 00:37:00,719 --> 00:37:06,600 Speaker 1: and technology, bitcoin, cryptocurrencies, the decentralized revolution um. What a 681 00:37:06,600 --> 00:37:08,680 Speaker 1: time to be alive right anyway, That's what I got 682 00:37:08,719 --> 00:37:10,120 Speaker 1: for you today. Thanks for listening.