WEBVTT - The Mark Moss Show Mar 14, 2022 0:00:00.320 --> 0:00:03.559 Everyone, Welcome back to another episode of the Markmas Show, 0:00:03.560 --> 0:00:06.880 where we are talking about the decentralized revolution that we 0:00:06.920 --> 0:00:10.840 are living through at this time. Really, we're witnessing history 0:00:10.880 --> 0:00:15.200 books being made, history book history being written. Books will 0:00:15.200 --> 0:00:17.560 be talking about this exact point in time. We're talking 0:00:17.560 --> 0:00:21.439 about the decentralized revolution. We're talking about the intersection of politics, finance, 0:00:21.520 --> 0:00:25.520 and technology, and of course that intersection is bitcoin and 0:00:25.520 --> 0:00:28.320 it is changing the world as we speak in more 0:00:28.320 --> 0:00:31.040 ways than most people can realize. And so that's why 0:00:31.160 --> 0:00:33.919 each and every week I bring to you the latest 0:00:34.080 --> 0:00:37.000 education so you can understand, you can build your foundations, 0:00:37.080 --> 0:00:40.440 you have the information you need to take advantage of 0:00:40.479 --> 0:00:42.680 this transfer. It's gonna be the way the greatest wealth 0:00:42.760 --> 0:00:45.159 transfer you will ever see in your lifetime. We'll see 0:00:45.159 --> 0:00:46.839 in multiple lifetimes. And you can either be on the 0:00:46.840 --> 0:00:49.800 giving end. I've been on that side before. In two 0:00:49.800 --> 0:00:52.200 thousand and eight, I gave my wealth away to other people. 0:00:53.320 --> 0:00:55.600 I didn't like it. I've made a point. I've studied 0:00:55.600 --> 0:00:57.920 for the last twelve years these wealth transfer cycles to 0:00:57.960 --> 0:00:59.880 make sure it doesn't happen to me again. And so 0:01:00.120 --> 0:01:02.440 I can be on the receiving end. And if you 0:01:03.000 --> 0:01:05.280 tune in each end. Every week, I'm gonna be continuing 0:01:05.319 --> 0:01:08.000 to give you that education that you need so you 0:01:08.040 --> 0:01:11.039 know how to see them, how to navigate them, and 0:01:11.080 --> 0:01:13.400 how to position yourself on the receiving end of these 0:01:13.440 --> 0:01:16.200 world transfers. And of course that's what happens when we 0:01:16.240 --> 0:01:19.119 go through highly volatible times like we're going in, with 0:01:19.400 --> 0:01:22.840 inflation running sky high, with world wars on the brink 0:01:22.880 --> 0:01:27.199 of of you know, taking place um and it's all 0:01:27.280 --> 0:01:31.640 being driven by this technological revolution that we're witnessing. And 0:01:31.680 --> 0:01:36.760 so if you haven't already made a calendar appointment a 0:01:36.840 --> 0:01:38.520 date to be with me each and every week, then 0:01:38.520 --> 0:01:40.800 you certainly should just grab your phone put a calendar 0:01:40.840 --> 0:01:43.199 reminder to join me each and every week at this time, 0:01:43.200 --> 0:01:45.840 at this channel. It's going to be the most important 0:01:45.880 --> 0:01:49.440 part of your week. I can say that pretty confidently 0:01:49.680 --> 0:01:52.080 because it's that big of a deal. Each week, I 0:01:52.080 --> 0:01:53.800 try to bring you this education that you need, to 0:01:53.880 --> 0:01:56.160 try to bring you the latest breaking news of the 0:01:56.160 --> 0:01:57.920 week to keep you up to date so you know 0:01:57.960 --> 0:01:59.560 what's going on. And then of course I try to 0:01:59.600 --> 0:02:02.400 bring you some of the brightest and smartest people in 0:02:02.440 --> 0:02:04.880 the space so you can get some different perspective as well, 0:02:06.480 --> 0:02:10.240 and uh, you know each week it's it's been exciting lately. Um, 0:02:10.280 --> 0:02:13.040 you know, it's uh this period of time, these last 0:02:13.040 --> 0:02:16.480 couple of weeks. Um, it's kind of this Vladimir Linen 0:02:16.560 --> 0:02:20.400 quote that said that there's decades where nothing seems to happen, 0:02:20.440 --> 0:02:22.600 and then there's days where decades seem to happen. And 0:02:22.600 --> 0:02:24.640 that's exactly where we're at right now, is like every 0:02:24.720 --> 0:02:28.720 day is like another decade's worth of information. Um, you know, 0:02:29.200 --> 0:02:32.800 going making content on a regular basis, you know, on 0:02:32.840 --> 0:02:34.440 my YouTube channel and then of course here on the 0:02:34.560 --> 0:02:38.359 radio and the podcast. Um, there's been periods where I'm like, dang, 0:02:38.400 --> 0:02:41.000 what are we gonna talk about this week? And then uh, 0:02:41.240 --> 0:02:43.120 then we get the periods like this where I'm like, 0:02:43.280 --> 0:02:44.800 there's too much to cover. I don't know what to do. 0:02:44.919 --> 0:02:47.880 But anyway, that's why it's important that you're paying attention. 0:02:47.880 --> 0:02:50.640 And there is a lot of stuff going on, specifically 0:02:50.919 --> 0:02:55.760 around bitcoin, cryptocurrencies and the decentralized revolution. As we go 0:02:56.120 --> 0:02:59.040 back in history and literally looking at thousands of years 0:02:59.040 --> 0:03:02.600 of history, we can see that what changes the way 0:03:02.600 --> 0:03:05.040 that the world works, the way that the world organizes 0:03:05.280 --> 0:03:09.840 is technology that changes how it communicates, how it organizes, 0:03:10.080 --> 0:03:14.200 changes the political structures, changes the financial structures and everything else. 0:03:14.680 --> 0:03:16.720 And so really we're looking at the technology. That's exactly 0:03:16.720 --> 0:03:20.080 what we're talking about today. And the big, big, big, big, 0:03:20.080 --> 0:03:23.880 big news is that, um, the United States, the Biden 0:03:23.919 --> 0:03:30.640 administration came out with an executive order. Now, UM, we've 0:03:30.639 --> 0:03:32.799 been talking about this, maybe I've probably talked about this 0:03:32.800 --> 0:03:34.640 a little bit in the weeks past, because there was 0:03:34.680 --> 0:03:38.080 like an announcement of an announcement. He was announcing that 0:03:38.120 --> 0:03:41.120 we are going to be making an executive order. An 0:03:41.120 --> 0:03:44.080 announcement of announcement. I love those. We don't know what 0:03:44.160 --> 0:03:46.200 the executive order is going to be yet, but but 0:03:46.320 --> 0:03:48.480 we're going to have one. You just stand by and 0:03:48.520 --> 0:03:51.680 just be ready. We're going to make an executive order 0:03:52.920 --> 0:03:56.280 on cryptocurrencies. So that's what the world has been waiting 0:03:56.320 --> 0:03:58.920 for the last two weeks. Of course, it's been dominated 0:03:58.920 --> 0:04:02.600 by the headlines of say Russia Ukraine, which we'll get 0:04:02.640 --> 0:04:05.400 into a little bit later, um, but you know, specifically 0:04:05.400 --> 0:04:08.280 with Russia Ukraine dominating the headlines and the sanctions that 0:04:08.280 --> 0:04:13.120 are happening there, Um, cryptocurrency is being thrust into that 0:04:13.200 --> 0:04:16.640 conversation as a way for UM, the Russians and maybe 0:04:16.720 --> 0:04:19.680 even the Russian government to get around sanctions. Maybe we'll 0:04:19.720 --> 0:04:24.040 talk about that, UM, But it's been dominating the news headlines, 0:04:24.080 --> 0:04:26.719 and here we are UM with an executive order was 0:04:26.800 --> 0:04:30.599 finally released, UM talking about what they're gonna do to 0:04:30.680 --> 0:04:34.560 regulate digital assets or we should say, cryptocurrency. So I 0:04:34.600 --> 0:04:36.240 want to dig into that. I got a lot to 0:04:36.279 --> 0:04:37.640 cover today. I want to talk about that. I want 0:04:37.640 --> 0:04:42.880 to talk about what the why UM, the United States, UM, 0:04:42.960 --> 0:04:46.039 Why it's important what they're saying compared to the rest 0:04:46.040 --> 0:04:49.720 of the world. I want to talk about why that's important. 0:04:49.760 --> 0:04:53.120 But even something bigger than that. So what you may 0:04:53.160 --> 0:04:56.400 not know is that the Central Bank, well actually say, 0:04:56.440 --> 0:04:59.479 the United States is just a smaller player on a 0:04:59.560 --> 0:05:02.320 much bigger stage. We're gonna talk about who's really pulling 0:05:02.360 --> 0:05:03.800 the strings up at the top. And I want to 0:05:03.800 --> 0:05:06.120 play some quotes of what they actually said. I want 0:05:06.120 --> 0:05:08.360 to talk about some of the implications of what they're 0:05:08.360 --> 0:05:11.520 actually saying and what this really means. They're not they're 0:05:11.520 --> 0:05:15.240 saying it. Biden didn't say it, but the people up 0:05:15.279 --> 0:05:18.080 above are saying it. I'm gonna play some clips of 0:05:18.080 --> 0:05:20.960 what they're actually saying, which will help you bring into 0:05:21.240 --> 0:05:23.920 um some perspective what Biden said through the executive order. 0:05:24.400 --> 0:05:26.640 I want to dig into some of the implications of this. 0:05:26.720 --> 0:05:28.640 And so we have some of these pieces that have 0:05:28.680 --> 0:05:30.320 already been used, and I want to talk to some 0:05:30.680 --> 0:05:34.159 historical relevance and reference of how well it's actually worked 0:05:34.240 --> 0:05:37.360 or or not worked, the problems of that, UM, and 0:05:37.400 --> 0:05:42.560 then I want to talk about the reality of if 0:05:42.600 --> 0:05:44.279 this can even happen. We're gonna look at some of 0:05:44.279 --> 0:05:48.039 the past past performance that the government has had had 0:05:48.080 --> 0:05:51.159 with the technology, and so much more. I had a 0:05:51.160 --> 0:05:53.080 lot to cover this hour, UM, so I'm gonna try 0:05:53.080 --> 0:05:55.520 and get through it pretty quickly. UM. By the way, 0:05:55.560 --> 0:05:57.360 you're listening to the Mark mo Show, we're talking about 0:05:57.360 --> 0:06:00.520 the decentralized revolution. We're talking about the way take chnology 0:06:00.640 --> 0:06:03.000 changes the way the world works. We're talking, of course 0:06:03.040 --> 0:06:07.200 about the decentralized revolution, which is bitcoin, the intersection of politics, finance, 0:06:07.240 --> 0:06:10.760 and technology. So UM, back to what we're talking about. So, 0:06:11.120 --> 0:06:14.720 the White House, the Biden administration put this executive order. 0:06:14.760 --> 0:06:19.920 It says Executive Order on Ensuring Responsible Development of Digital Assets. 0:06:20.760 --> 0:06:24.520 They call them digital assets. UM, crypto assets, cryptocurrencies, whatever 0:06:24.520 --> 0:06:27.520 you want to call them, and that's what they're referring to. UM. 0:06:27.560 --> 0:06:29.920 And it starts off by the authority vested in me 0:06:29.960 --> 0:06:33.160 as the President, by the Constitution and the laws of 0:06:33.200 --> 0:06:36.760 the United States of America has hereby ordered as follows. 0:06:37.200 --> 0:06:39.240 So it's important to understand is that the United States 0:06:39.279 --> 0:06:43.320 was UM it's not a it's not a democracy. It's 0:06:43.320 --> 0:06:46.960 certainly not a dictatorship the dictators where one guy makes 0:06:47.000 --> 0:06:49.800 all the rules. UM. It's it's not even a democracy, 0:06:49.839 --> 0:06:53.400 which is a form of mob rule or UM it's 0:06:53.400 --> 0:06:56.400 a tyranny of the minority by the majority. The United 0:06:56.400 --> 0:06:58.960 States is a republic, which is a representative government. So 0:06:59.040 --> 0:07:03.039 we were elect congressmen and representatives to go to Washington 0:07:03.120 --> 0:07:07.040 for us. One thing that's interesting about that, just acide tidbit, 0:07:07.480 --> 0:07:09.520 is that, you know, when the United States was founded, 0:07:09.880 --> 0:07:13.360 we had UM representatives that were supposed to represent a 0:07:13.360 --> 0:07:17.240 certain group of people. UM. But as the population of 0:07:17.280 --> 0:07:20.040 the United States has just blown up from where it 0:07:20.120 --> 0:07:23.119 was when we first founded, we haven't increased the amount 0:07:23.160 --> 0:07:26.360 of representatives, and so a lot of centralization has happened. 0:07:26.440 --> 0:07:29.800 But that's another story for another day. UM. But back 0:07:29.840 --> 0:07:31.920 to this. UM. The reason why I bring this up 0:07:31.960 --> 0:07:34.120 is that, like I said, the United States isn't a dictator, 0:07:35.000 --> 0:07:37.120 but yet these are sort of like that. So in 0:07:37.160 --> 0:07:39.760 the United States, we're supposed to have a separation of powers, 0:07:40.160 --> 0:07:43.840 and so through the separation of powers, UM, it limits 0:07:43.880 --> 0:07:46.360 the amount of power that any one person or any 0:07:46.400 --> 0:07:50.240 one group or sector of the government has. And so 0:07:50.280 --> 0:07:52.160 then there's things we're supposed to go through, you know, 0:07:52.920 --> 0:07:56.200 a framework, and so we have representatives that are supposed 0:07:56.240 --> 0:07:58.760 to represent our interests there. And then then we have 0:07:58.840 --> 0:08:00.480 the House, and we have the cang rise which are 0:08:00.480 --> 0:08:02.400 supposed to be split up, and of course that we 0:08:02.480 --> 0:08:05.400 have the executive branch, which is the President, et cetera. UM. 0:08:05.400 --> 0:08:09.200 But an executive order, like what he's saying here means 0:08:09.520 --> 0:08:13.679 I am king, I bypass, I override. I don't care 0:08:14.360 --> 0:08:18.160 what anybody else says. I don't care what do people want. 0:08:18.360 --> 0:08:20.840 I don't care what their representatives say. I don't care 0:08:20.880 --> 0:08:23.720 about the House of the Congress. I am going to 0:08:23.800 --> 0:08:27.920 decide by myself unilaterally that I'm going to make these decisions. 0:08:28.120 --> 0:08:31.880 So just kind of I tell you what that means. Now. UM. 0:08:31.920 --> 0:08:35.319 As a side note, again, we have gas prices going 0:08:35.320 --> 0:08:37.920 sky high in Los Angeles or over seven dollars a gallon, 0:08:37.920 --> 0:08:41.520 which is insane. Um. Gas gas prices when Biden took 0:08:41.559 --> 0:08:44.000 office where I think two dollars and thirty cents a 0:08:44.040 --> 0:08:48.120 gallon nationally. I made it. I made a claim. I 0:08:48.200 --> 0:08:51.360 made a prediction that gas would be over ten dollars 0:08:51.440 --> 0:08:53.800 by the time Biden left office. Of course, when there 0:08:53.800 --> 0:08:55.320 are two dollars and thirty cents, that was a pretty 0:08:55.360 --> 0:08:57.920 big claim. Um. But yet here we are over seven bucks. 0:08:58.240 --> 0:09:00.360 We're not too far behind now. Uh. Some of my 0:09:00.440 --> 0:09:04.240 track record if you watch my YouTube channel, UM September 0:09:04.280 --> 0:09:07.760 of I made a video saying that we would have 0:09:07.800 --> 0:09:09.960 an energy crisis coming to the rest of the world. 0:09:10.440 --> 0:09:12.640 I made a video nine months ago seeing we were 0:09:12.679 --> 0:09:15.040 going to have a food crisis coming to the rest 0:09:15.080 --> 0:09:18.160 of the world. And uh, here we are. UM, a 0:09:18.200 --> 0:09:20.520 lot more to go. Don't go away, I'll be right back, 0:09:21.360 --> 0:09:23.360 all right, welcome back. You are listening to the Mark 0:09:23.440 --> 0:09:27.160 Moa Show, and we're talking about the decentralas revolution that 0:09:27.160 --> 0:09:29.720 we are witnessing right now. We're talking about history being 0:09:29.760 --> 0:09:32.160 made literally as we speak now. For a lot of people, 0:09:32.160 --> 0:09:35.720 they're not paying attention. Maybe You don't realize how monumental 0:09:36.440 --> 0:09:38.640 these changes are that we're seeing right now. Um, but 0:09:38.679 --> 0:09:42.520 they're happening. It's happening. It's gonna have massive, massive implications 0:09:42.880 --> 0:09:45.640 for the future. And uh, you should be paying attention. Now. 0:09:45.800 --> 0:09:47.360 What I was talking about before the break is I 0:09:47.400 --> 0:09:50.640 was talking about, UM, the Biden administration. The White House 0:09:50.640 --> 0:09:54.160 put together an executive order, UM, the executive Order, and 0:09:54.200 --> 0:09:57.160 as I was saying, is basically he is, uh, you know, 0:09:57.240 --> 0:10:01.120 kind of being a dictator. I bypass all rep resentatives, Congress, House, 0:10:01.360 --> 0:10:03.080 what the people want, and I'm just going to declare 0:10:03.120 --> 0:10:06.520 this to be um a thing. UM. And so that's 0:10:06.559 --> 0:10:09.640 what he put forth. This was just just just this week. Um. 0:10:09.679 --> 0:10:12.400 The whole cryptocurrency world and really the financial world was 0:10:12.440 --> 0:10:14.600 all standing by waiting to see what was going to happen. 0:10:15.240 --> 0:10:19.360 And UM, what's funny was that actually it involves obviously 0:10:19.400 --> 0:10:21.719 the White House and and the and the Treasury as well, 0:10:21.800 --> 0:10:25.319 Janet Yellen and the Treasury, and uh, the night before 0:10:25.880 --> 0:10:28.360 the executive order was released, everybody was waiting for the 0:10:28.440 --> 0:10:31.480 executive order to be released. And the night before the 0:10:31.559 --> 0:10:36.880 Treasury Janet Yellen put out UM her press release UM 0:10:36.920 --> 0:10:41.080 with her comments on what the executive order was spoiler alert. 0:10:42.440 --> 0:10:44.160 So while everybody was waiting for the EO to find 0:10:44.160 --> 0:10:46.959 out what was going to happen, UM, Janet Yellen had 0:10:47.280 --> 0:10:50.120 already read it and put out her comments, and so 0:10:50.160 --> 0:10:52.480 it kind of took some of the surprise out. We 0:10:52.480 --> 0:10:54.720 we read. We read that it quickly got taken down, 0:10:54.760 --> 0:10:57.320 but of course the Internet is basically permanent, and it 0:10:57.360 --> 0:10:58.840 was captured and we were able to read what that 0:10:59.000 --> 0:11:02.360 was and when when the when when Janet Yellen put 0:11:02.400 --> 0:11:05.280 out her comments on what Biden's executive order was going 0:11:05.320 --> 0:11:09.680 to be, UM, we found out it was somewhat harmless. UM. 0:11:09.880 --> 0:11:12.960 The price of bitcoin and cryptocurrencies rallied, rallied pretty hard, 0:11:13.000 --> 0:11:15.040 which was pretty interesting in the market, Like I said, 0:11:15.120 --> 0:11:17.400 was all standing by to wait and see what was 0:11:17.440 --> 0:11:20.800 going to happen. UM, and we saw a bitcoin really pump. 0:11:20.880 --> 0:11:22.600 As a matter of fact, I think it's shot from 0:11:22.640 --> 0:11:26.800 about thirty eight thousand back up to like forty two thousands, 0:11:26.800 --> 0:11:29.280 so pretty good, pretty good sized move. UM. It's it's 0:11:29.320 --> 0:11:31.280 since come down a little bit since then, but that 0:11:31.360 --> 0:11:34.640 was about, you know, almost a ten percent move, which 0:11:34.640 --> 0:11:37.480 is which is pretty considerable. But back to the Executive Order. 0:11:37.480 --> 0:11:39.880 What's in there? Um, Like I said, it wasn't wasn't 0:11:39.880 --> 0:11:41.959 a lot of teeth. It's again more of an announcement. 0:11:42.000 --> 0:11:45.760 So Section one policy Advances in Digital and Distributed Ledger 0:11:45.800 --> 0:11:52.880 technology for financial services. He says, UM have profound implications 0:11:52.920 --> 0:11:56.559 for the protection of consumers, investors, and businesses, including data 0:11:56.600 --> 0:12:03.280 privacy and security, financial stability and system attic risk, systemic risk, crime, 0:12:03.360 --> 0:12:07.880 national security, the ability to exercise human rights, financial inclusion 0:12:08.120 --> 0:12:10.839 and equity, and energy demand and climate change. So he's 0:12:10.880 --> 0:12:12.600 kind of setting this up. This is this is the 0:12:12.640 --> 0:12:16.240 importance of what's here. Um. Now, first of all, advances 0:12:16.240 --> 0:12:20.360 in digital and distributed ledger technology UM d l T. 0:12:21.520 --> 0:12:24.839 It's a bunch of mumbo jumbo means nothing. Bitcoin is decentralized, 0:12:24.880 --> 0:12:28.120 meaning instead of one database, there's um thousands or millions 0:12:28.120 --> 0:12:31.760 of databases. They're calling it distributed ledger. Okay, Um, profound 0:12:31.760 --> 0:12:36.280 implications for protection of consumers. Yeah, that's always their main concern, right, Um. 0:12:36.320 --> 0:12:38.520 And then I love this part though, the ability to 0:12:38.720 --> 0:12:44.720 exercise human rights and financial inclusion. Think about that. So 0:12:44.800 --> 0:12:47.480 financial inclusion, there's about two billion adults in the world 0:12:47.520 --> 0:12:51.679 today that have no access to banking why is that, Well, 0:12:52.559 --> 0:12:55.720 the primary reason is because they're not allowed. The financial 0:12:55.800 --> 0:12:59.200 system is a permission based system, and so right now, 0:12:59.320 --> 0:13:01.559 if you're a rush and living in the United States, 0:13:02.440 --> 0:13:04.360 you're not allowed to be in the financial system. So 0:13:04.720 --> 0:13:07.480 they're talking about inclusion, but it's their laws that are 0:13:07.679 --> 0:13:10.480 making it so people aren't included. Has nothing to do 0:13:10.480 --> 0:13:11.920 with the money. The other thing I love this the 0:13:11.920 --> 0:13:18.840 ability to exercise human rights. There is no rights without 0:13:18.840 --> 0:13:22.360 the ability to transact, period. So how can I have 0:13:22.440 --> 0:13:25.760 the ability to exercise human rights in their words, without 0:13:25.800 --> 0:13:28.280 the ability to transact? Well, if I'm not I'm not 0:13:28.320 --> 0:13:31.120 allowed to be including the financial system, then I don't 0:13:31.120 --> 0:13:34.040 have the freedom to transact. So it's interesting they say that. Um. 0:13:34.080 --> 0:13:38.320 But anyway, he also says that monetary authorities globally are 0:13:38.360 --> 0:13:42.240 also exploring, in some cases introducing essential bank digital currency, 0:13:42.679 --> 0:13:44.920 and so this is really what the whole objective of 0:13:44.920 --> 0:13:47.760 this executive order is. So one, how are we going 0:13:47.800 --> 0:13:51.440 to study and regulate cryptocurrencies and to how are we 0:13:51.480 --> 0:13:56.079 going to push force our own central bank digital currency? Um. 0:13:56.120 --> 0:13:58.440 He went on to say, Well, I don't think. He 0:13:58.480 --> 0:14:00.040 went on to say, I think whoever wrote this for 0:14:00.120 --> 0:14:02.400 I wanted to say we must take strong steps to 0:14:02.440 --> 0:14:06.439 reduce the risks that digital assets could pose to consumers, 0:14:06.440 --> 0:14:10.960 investors in business protections. I say that with some sarcasm 0:14:11.000 --> 0:14:14.680 because they're not so concerned with the risks that consumers 0:14:14.720 --> 0:14:18.120 or investors take when you go to Vegas or when 0:14:18.120 --> 0:14:20.640 you buy a lottery tickets. They don't care about that. 0:14:20.680 --> 0:14:25.800 They know you have no chance of winning, and yet whatever, right, Um, anyway, 0:14:25.840 --> 0:14:27.760 that's a whole another story. We can get to do 0:14:27.800 --> 0:14:32.040 about the sec and investor protections and customer protections. Um. 0:14:32.080 --> 0:14:33.840 But then they go want to talk about the financial 0:14:33.840 --> 0:14:39.280 stability and financial system integrity, combating and preventing crime and 0:14:39.320 --> 0:14:43.400 illicit finance, national security, the ability to exercise human rights. 0:14:43.400 --> 0:14:44.760 So I want to I'm gonna dig into a couple 0:14:44.800 --> 0:14:48.760 of those pieces. But the objectives are, um, protect consumers, 0:14:48.960 --> 0:14:51.600 all right, So protect people? Um, the United States should 0:14:51.680 --> 0:14:54.239 ensure the safeguards are in place and promote the responsible 0:14:54.280 --> 0:14:57.640 development of digital assets to protect consumers. Well, I think 0:14:57.680 --> 0:14:59.800 that you're pretty smart. I think I'm pretty smart. I 0:14:59.800 --> 0:15:02.000 think I'm smart enough to think about myself. I think 0:15:02.040 --> 0:15:03.920 you're smart enough to think about yourself. If you're smart 0:15:04.000 --> 0:15:06.360 enough to decide if you want to drink alcohol, vote, 0:15:06.560 --> 0:15:09.080 vote for the president, or buy a lottery ticket. I 0:15:09.080 --> 0:15:10.560 think you're smart enough to decide if you want to 0:15:10.600 --> 0:15:12.880 use cryptocurrencies. I don't think we need the nanny state 0:15:13.000 --> 0:15:15.360 the government to protect you from that. UM. And then 0:15:15.360 --> 0:15:17.040 they also want to protect the United States and global 0:15:17.080 --> 0:15:22.360 financial stability. UM. Now, part of protecting the US financial 0:15:22.360 --> 0:15:26.120 stability is to make sure there's no competitors there. They 0:15:26.200 --> 0:15:28.960 go on to say, Section C, we must mitigate the 0:15:29.000 --> 0:15:33.160 illicit finance and national security risks. And that's what I 0:15:33.200 --> 0:15:36.240 want to dig into next. But really it's about pushing 0:15:36.320 --> 0:15:42.800 this central bank digital currencies UM and protecting UM, the people, 0:15:42.800 --> 0:15:46.120 the system from this illicit finance and national security risk. 0:15:46.160 --> 0:15:49.000 So we're gonna talk about each of those sections. UM. First, 0:15:50.360 --> 0:15:53.720 mitigate illicital, illicit financial, and national security risk. Okay, so 0:15:53.760 --> 0:15:55.320 that sounds pretty good. Right. They go on to say, 0:15:56.440 --> 0:15:59.960 including money laundering. I guess that sounds bad. UM, narcotics, 0:16:00.120 --> 0:16:03.800 human trafficking, Well, that's certainly bad. I don't like that. UM. Terrorism, sure, 0:16:03.840 --> 0:16:06.520 I mean, who likes terrorism? Sounds good? Right? And prolif 0:16:06.840 --> 0:16:10.560 proliferation financing. Okay, So they want to stop these and 0:16:10.760 --> 0:16:12.640 they say that digital assets maybe used as a tool 0:16:12.720 --> 0:16:17.760 to circumvent u S and foreign financial sanction regimes UM 0:16:17.840 --> 0:16:19.440 and so it says, well, the United States has been 0:16:19.440 --> 0:16:22.360 a leader in setting international standards for the regulation and 0:16:22.400 --> 0:16:26.880 supervision of digital assets for anti money laundring and counter terrorism. 0:16:27.480 --> 0:16:30.480 It says that countering the financing of terrorism, which is 0:16:30.520 --> 0:16:33.920 known as a m l Anti money laundering m l. 0:16:35.760 --> 0:16:38.760 He says that with poor non existent implementations of those standards, 0:16:38.760 --> 0:16:43.680 some jurisdictions can present significance significant illicit financing risks for 0:16:43.680 --> 0:16:46.320 the United States and global financial system. So the United 0:16:46.320 --> 0:16:48.800 States has set up this a m l Anti money 0:16:48.920 --> 0:16:51.120 laundring and they've set up an f a t F 0:16:51.400 --> 0:16:55.320 Financial Action Task Force, and they've set this up to 0:16:56.000 --> 0:17:03.800 UM prohibit elicit financing, prohibit money laundering, prohibit the use 0:17:03.840 --> 0:17:07.600 of money laundering, to stop human trafficking, terrorism, and so forth. 0:17:08.640 --> 0:17:12.359 But does it work well, you might be surprised to 0:17:12.400 --> 0:17:15.560 find out. I actually have some of those results right here, 0:17:15.560 --> 0:17:18.080 and even more importantly than some of the results, I 0:17:18.200 --> 0:17:20.399 have some of the costs. So we always have to 0:17:20.400 --> 0:17:24.520 think about the cost benefit analysis. What is the trade offs? 0:17:24.640 --> 0:17:27.359 Nothing comes without a cost, and so I have some 0:17:27.480 --> 0:17:31.280 stats that are going to blow your mind when I 0:17:31.320 --> 0:17:34.000 read these for you. Next. Uh, make sure you're here, 0:17:34.160 --> 0:17:35.800 by the way. You're listening to the Markma Show. We're 0:17:35.840 --> 0:17:39.280 talking about the intersection of politics, finance, and technology. We're 0:17:39.280 --> 0:17:43.480 talking about the decentralized revolution. We're talking about bitcoin and cryptocurrencies, 0:17:43.480 --> 0:17:45.000 just like the White House is talking about them here 0:17:45.040 --> 0:17:48.360 in this um executive order of the Biden White House 0:17:48.400 --> 0:17:50.720 put together. I want to explain to you what it 0:17:50.840 --> 0:17:52.880 says here, and I want to explain to you what 0:17:52.920 --> 0:17:54.719 we know of the cost benefits. Like I said, I'm 0:17:54.720 --> 0:17:56.359 gonna tell you some of these numbers and it's gonna 0:17:56.400 --> 0:17:58.480 blow your mind. And then we're gonna talk about the 0:17:58.480 --> 0:18:01.080 Central bank digital currencies and what they're really telling us 0:18:01.119 --> 0:18:03.320 in their own words. You're going to be surprised. I 0:18:03.320 --> 0:18:05.000 have a lot more. So do not go away. I'll 0:18:05.000 --> 0:18:07.680 be right back, all right, Welcome back. You're listening to 0:18:07.720 --> 0:18:11.919 the Markma Show. We're talking about the intersection of politics, finance, 0:18:11.960 --> 0:18:14.960 and technology. We're talking about the decentralized revolution, which of 0:18:15.000 --> 0:18:18.640 course is bitcoin and cryptocurrencies, and we're specifically talking about 0:18:19.640 --> 0:18:23.840 the White House. The Biden administration put together an executive 0:18:24.000 --> 0:18:26.800 order means I don't care what anybody says. This is 0:18:26.800 --> 0:18:28.760 what I say because I'm the dictator. Well he didn't 0:18:28.760 --> 0:18:30.199 really say as a dictator, but that's basically what an 0:18:30.200 --> 0:18:33.560 executive order is. And they're talking about, Um, they need 0:18:33.600 --> 0:18:37.080 to protect. They need to protect everybody because without the government, 0:18:37.119 --> 0:18:39.600 what would we do. I need them for my safety. 0:18:39.920 --> 0:18:42.960 How can I sleep at night? Um? Criminals would run 0:18:43.080 --> 0:18:45.520 wild across the world if it wasn't for the government 0:18:45.560 --> 0:18:49.159 protecting us from ourselves, Right, that's what they say. So, Um, 0:18:49.160 --> 0:18:51.680 they said that the United States needs to make sure 0:18:51.680 --> 0:18:57.040 there's proper regulation and supervision for digital assets for anti 0:18:57.240 --> 0:19:00.680 money laundering a mL. So to talk about that for 0:19:00.720 --> 0:19:03.440 a second, So, um a m L anti money laundering. 0:19:03.440 --> 0:19:06.080 And there's also KYC Know your customer. So if you've 0:19:06.119 --> 0:19:08.280 ever set up a bank account, which I'm sure you have, 0:19:08.400 --> 0:19:11.639 or a cryptocurrency account, you probably know what k y 0:19:11.680 --> 0:19:13.720 C is that to know your customers, So the bank 0:19:14.000 --> 0:19:16.800 or the cryptocurrency exchange, coin based crack and gemine, etcetera, 0:19:17.119 --> 0:19:19.439 they have to collect all your information. They need to 0:19:19.440 --> 0:19:22.000 know your name and your address, and they have to 0:19:22.040 --> 0:19:24.920 scan your driver's license and there you have to upload 0:19:25.359 --> 0:19:27.600 your passport and you have to sign your name on 0:19:27.640 --> 0:19:29.280 a piece of paper and take a picture of you 0:19:29.359 --> 0:19:32.639 holding it, and you probably have all this information so 0:19:32.680 --> 0:19:36.119 they can know you know your customer. So part of 0:19:36.160 --> 0:19:38.879 the A M l antimoney laundering is k y C 0:19:39.280 --> 0:19:41.920 no your customer. All right, well that sounds good. Right. 0:19:42.160 --> 0:19:45.320 They have to collect all of our information to stop terrorism, right, 0:19:46.200 --> 0:19:50.960 and nobody wants terrorism, So we should all be inconvenienced 0:19:51.160 --> 0:19:53.960 and we should all give up all of our information. 0:19:54.160 --> 0:19:57.879 We should all give up all of our privacy so 0:19:58.000 --> 0:20:02.400 we can stop these horrible, horrible, horrible things. Right. I mean, 0:20:02.520 --> 0:20:04.800 I'm sure lots of you listening right now are saying, yes, Mark, 0:20:04.840 --> 0:20:08.680 that's absolutely true. I'm I'm perfectly okay being inconvenience and 0:20:09.200 --> 0:20:12.960 given it my privacy so we can stop these bad things. Okay, great, 0:20:14.040 --> 0:20:17.439 but does it work? Well? You might be surprised. So 0:20:17.480 --> 0:20:20.560 what we see here UM estimates here by a by 0:20:20.560 --> 0:20:24.240 a recent research report says that UM there's nine there's 0:20:24.280 --> 0:20:27.840 over ninety trillion dollars in gross domestic product in GDP. 0:20:27.960 --> 0:20:30.800 That's the amount of transactions or business or commerce that's 0:20:30.840 --> 0:20:36.480 being done globally. Ninety trillion dollars. Of that ninety trillion dollars, 0:20:36.600 --> 0:20:42.800 approximately three per cent is criminal. So that means that 0:20:42.840 --> 0:20:45.600 criminals are doing bad things. Now, for the most part, 0:20:47.400 --> 0:20:51.320 if the government hasn't given you a permit, then it's criminal. 0:20:51.480 --> 0:20:56.399 So what what What what's deemed criminal and what I 0:20:56.560 --> 0:21:00.000 might and you might actually consider criminal are two different things. Right. Obviously, 0:21:00.320 --> 0:21:02.800 we're all against child trafficking. We all agree on that. 0:21:02.840 --> 0:21:05.479 I can't imagine anybody except for a very very very 0:21:05.480 --> 0:21:08.320 tiny small percentage, but pretty much everyone agrees that that's bad. 0:21:08.400 --> 0:21:13.720 That's criminal. Um maybe um, you know, moving drugs, Okay, 0:21:13.760 --> 0:21:16.439 so that's criminal. Okay. So there's there's things we can 0:21:16.480 --> 0:21:18.399 agree on, but there's things that maybe we don't agree 0:21:18.440 --> 0:21:20.679 on and maybe shouldn't be illegal. But anyway, well we're 0:21:20.680 --> 0:21:23.680