1 00:00:00,160 --> 00:00:02,640 Speaker 1: Hello, and welcome to another episode of The Mark Moss Show, 2 00:00:02,640 --> 00:00:06,280 Speaker 1: where we're always talking about the decentralized revolution, the way 3 00:00:06,320 --> 00:00:08,200 Speaker 1: that world is changing. Of course, you already know that, 4 00:00:08,240 --> 00:00:10,440 Speaker 1: and we look at it through the lens of politics, finance, 5 00:00:10,480 --> 00:00:13,000 Speaker 1: and technology. Got a lots to cover this week. We're 6 00:00:13,000 --> 00:00:14,800 Speaker 1: going to run through some of the latest breaking news 7 00:00:14,800 --> 00:00:17,480 Speaker 1: headlines so you can see the way the world is 8 00:00:17,680 --> 00:00:20,239 Speaker 1: literally changing right before your very eyes. And it was 9 00:00:20,280 --> 00:00:22,720 Speaker 1: a busy week. I want to talk about what the 10 00:00:22,760 --> 00:00:25,240 Speaker 1: heck is going on in the global South with the bricks, 11 00:00:25,600 --> 00:00:28,000 Speaker 1: the rise of the bricks, and they're aim to reduce 12 00:00:28,720 --> 00:00:31,640 Speaker 1: the US dollars dominance. What does that mean. I want 13 00:00:31,640 --> 00:00:35,120 Speaker 1: to talk about cars and big houses, what the heck 14 00:00:35,159 --> 00:00:38,519 Speaker 1: is going on and becoming unbuiable. We've seen cars and 15 00:00:38,600 --> 00:00:40,800 Speaker 1: houses making huge moves. I want to talk about the 16 00:00:40,840 --> 00:00:43,240 Speaker 1: biggest reform to the US financial markets that we've seen 17 00:00:43,960 --> 00:00:46,800 Speaker 1: in over a decade is coming and why, what are 18 00:00:46,800 --> 00:00:50,199 Speaker 1: the dangers there? And what the heck is going on 19 00:00:50,280 --> 00:00:54,480 Speaker 1: in the bitcoin space. An unidentified wallet has just come 20 00:00:54,560 --> 00:00:57,480 Speaker 1: onto the scene and is making massive, massive ways. We're 21 00:00:57,480 --> 00:00:59,320 Speaker 1: going to cover all that, but let's just dive right in. 22 00:00:59,320 --> 00:01:01,040 Speaker 1: I want to talk about what is going on with 23 00:01:01,160 --> 00:01:03,800 Speaker 1: the bricks. Of course, the bricks are the global South. 24 00:01:03,840 --> 00:01:08,800 Speaker 1: Brick stands for briic As, Brazil, Russia, India, China, and 25 00:01:08,959 --> 00:01:13,640 Speaker 1: South Africa. They are a collection of countries that have 26 00:01:13,680 --> 00:01:17,720 Speaker 1: come together to trade between themselves. And what's interesting about 27 00:01:17,720 --> 00:01:20,880 Speaker 1: them is that they are producing actual goods and services, 28 00:01:20,920 --> 00:01:23,720 Speaker 1: meaning like commodities, things that come under the ground, whether 29 00:01:23,760 --> 00:01:27,000 Speaker 1: that be food or minerals or metals or energy and 30 00:01:27,040 --> 00:01:30,520 Speaker 1: things like that. You know, the G seven, which is 31 00:01:30,520 --> 00:01:32,400 Speaker 1: the top seven countries in the world, which is dominated 32 00:01:32,440 --> 00:01:37,200 Speaker 1: by of course the US and Europe and Canada, et cetera. 33 00:01:37,680 --> 00:01:42,480 Speaker 1: On contrast, provide little commodities of goods to the rest 34 00:01:42,520 --> 00:01:45,679 Speaker 1: of the world. And what we've seen throughout, you know, 35 00:01:45,720 --> 00:01:48,640 Speaker 1: really the last eighty years or so, is that the 36 00:01:48,760 --> 00:01:52,600 Speaker 1: economic privilege that the West has had over the bricks 37 00:01:53,280 --> 00:01:56,560 Speaker 1: has really stemmed from their ability to control the money, 38 00:01:56,560 --> 00:01:59,680 Speaker 1: control the currency. The dollar has been the leading global 39 00:01:59,720 --> 00:02:02,640 Speaker 1: reserve currency since the Breton Woods Agreement, which was in 40 00:02:02,760 --> 00:02:08,160 Speaker 1: nineteen forty four, and through having the reserve currency and 41 00:02:08,200 --> 00:02:12,280 Speaker 1: through controlling global trade in that currency, then the US 42 00:02:12,320 --> 00:02:17,000 Speaker 1: and Europe overall has massive power and influence over over 43 00:02:17,320 --> 00:02:21,240 Speaker 1: the bricks. Economist Barry eichen Green puts it, quote, it 44 00:02:21,320 --> 00:02:24,040 Speaker 1: costs only a few cents for the Bureau of Engraving 45 00:02:24,040 --> 00:02:26,880 Speaker 1: and Printing to produce a one hundred dollars bill. So 46 00:02:26,919 --> 00:02:30,000 Speaker 1: the United States, the government can create one hundred dollars 47 00:02:30,160 --> 00:02:32,520 Speaker 1: for just a few pennies, about sixteen cents, I think. 48 00:02:32,919 --> 00:02:35,880 Speaker 1: But he says, other countries have to pony up one 49 00:02:35,960 --> 00:02:39,320 Speaker 1: hundred dollars of actual goods in order to get one. 50 00:02:39,480 --> 00:02:42,079 Speaker 1: So the US creates one hundred dollar bill for sixteen cents. 51 00:02:42,120 --> 00:02:43,640 Speaker 1: But in order for one of these nations in the 52 00:02:43,639 --> 00:02:46,000 Speaker 1: South to get that one hundred dollars bill, they have 53 00:02:46,120 --> 00:02:49,280 Speaker 1: to give them one hundred dollars worth of goods. Now, 54 00:02:49,800 --> 00:02:51,440 Speaker 1: it might be said that that one hundred dollars of 55 00:02:51,440 --> 00:02:54,680 Speaker 1: goods didn't cost them one hundred dollars, but it certainly 56 00:02:54,720 --> 00:02:58,760 Speaker 1: cost them more than sixteen cents. So as the US 57 00:02:58,840 --> 00:03:02,760 Speaker 1: dollar has a reserve currency state, it gets artificially stronger 58 00:03:02,760 --> 00:03:05,480 Speaker 1: than it might other would have been, because there's lots 59 00:03:05,480 --> 00:03:08,320 Speaker 1: of demand for dollars, always demand for dollars. Now we 60 00:03:08,440 --> 00:03:12,160 Speaker 1: have these bricks, like I said, they're meeting right now 61 00:03:12,160 --> 00:03:14,120 Speaker 1: this week, so we don't have the full development. So 62 00:03:14,200 --> 00:03:15,959 Speaker 1: over the next couple of weeks we'll start to hear 63 00:03:16,040 --> 00:03:17,960 Speaker 1: what actually came out of this. But some of the 64 00:03:17,960 --> 00:03:21,400 Speaker 1: big things is about what are they doing. There's been 65 00:03:21,440 --> 00:03:24,000 Speaker 1: lots of talk about them creating their own currency, a 66 00:03:24,080 --> 00:03:26,880 Speaker 1: gold back currency potentially. I've talked about it, i think 67 00:03:26,880 --> 00:03:29,119 Speaker 1: on my main YouTube channel, Mark Moss. I'm talking about 68 00:03:29,120 --> 00:03:30,880 Speaker 1: how it's not really going to be a gold back currency, 69 00:03:30,880 --> 00:03:34,280 Speaker 1: but more of like a gold pegged currency, where really 70 00:03:34,440 --> 00:03:37,000 Speaker 1: it might represent like a tenth of an ounce of 71 00:03:37,000 --> 00:03:40,520 Speaker 1: gold or something like that exchangeable for that. It's a 72 00:03:40,560 --> 00:03:44,120 Speaker 1: technical difference. But according to South Africa as a massard 73 00:03:44,160 --> 00:03:46,920 Speaker 1: of the group, the Brick Summit isn't calling for a 74 00:03:47,040 --> 00:03:51,200 Speaker 1: D dollarization. That's what he says, the Bricks Summit specifically, 75 00:03:51,280 --> 00:03:53,800 Speaker 1: but lots of members of the Bricks are calling for 76 00:03:53,880 --> 00:03:56,360 Speaker 1: D dollarization, and so we're watching for that now. We 77 00:03:56,440 --> 00:03:58,680 Speaker 1: knew it started off August twenty second and a lot 78 00:03:58,720 --> 00:04:00,920 Speaker 1: of people were thinking that they were going to announce 79 00:04:01,040 --> 00:04:03,840 Speaker 1: this new currency at this meeting. They've come out and 80 00:04:03,840 --> 00:04:06,360 Speaker 1: said they are not going to announce that. But again 81 00:04:06,440 --> 00:04:08,320 Speaker 1: we'll start to find out in the next coming weeks 82 00:04:08,440 --> 00:04:11,840 Speaker 1: exactly what happened there. But what we do know is, 83 00:04:11,840 --> 00:04:14,920 Speaker 1: like I said, while the South Africa's ambassador says they're 84 00:04:15,000 --> 00:04:18,720 Speaker 1: not calling for D dollarization, we know that members of 85 00:04:19,440 --> 00:04:24,600 Speaker 1: the Bricks are. We know that obviously Russia and China, 86 00:04:24,720 --> 00:04:27,200 Speaker 1: the r and the c in bricks have been calling 87 00:04:27,240 --> 00:04:30,360 Speaker 1: for D dollarization and have been D dollars de dollarizing 88 00:04:30,400 --> 00:04:32,720 Speaker 1: for about a decade now at this point. So we 89 00:04:32,760 --> 00:04:35,359 Speaker 1: know that. We know the Bricks nations have established a 90 00:04:35,440 --> 00:04:39,000 Speaker 1: new development bank based in Shanghai to rival the US 91 00:04:39,080 --> 00:04:43,320 Speaker 1: dominated institutions like the IMF and the World Bank. We 92 00:04:43,400 --> 00:04:46,400 Speaker 1: know that this new bank, this NDB Bank, hopes to 93 00:04:46,960 --> 00:04:49,560 Speaker 1: lend in bricks currencies like the South African rand or 94 00:04:49,560 --> 00:04:53,200 Speaker 1: the Indian rupee. So we know that they're building this, 95 00:04:53,200 --> 00:04:57,520 Speaker 1: they're looking to expand their influence there, and we know 96 00:04:57,600 --> 00:05:00,000 Speaker 1: that this D dollarization plan has been well under way 97 00:05:00,120 --> 00:05:02,680 Speaker 1: for over a decade. Like I said, between Russia and China, 98 00:05:02,960 --> 00:05:07,320 Speaker 1: they've said it specifically and they're doing it now. Putin 99 00:05:07,680 --> 00:05:11,560 Speaker 1: you know, from Russia, he is addressing the Bricks summit remotely, 100 00:05:11,600 --> 00:05:13,680 Speaker 1: which I think is pretty interesting because when you look 101 00:05:13,680 --> 00:05:17,520 Speaker 1: at this rise of the Bricks, it's a coalition of 102 00:05:17,640 --> 00:05:20,520 Speaker 1: nations of countries and to think that they can all 103 00:05:20,600 --> 00:05:25,440 Speaker 1: work together to agree on one thing seems a little 104 00:05:25,440 --> 00:05:28,320 Speaker 1: bit unrealistic when you look at the fact that Putin, 105 00:05:29,040 --> 00:05:33,200 Speaker 1: head of Russia, arguably the second largest member of the 106 00:05:33,200 --> 00:05:37,880 Speaker 1: Bricks you know group, can't even go to the summit. 107 00:05:38,760 --> 00:05:40,360 Speaker 1: The reason why he can't go to the summit is 108 00:05:40,360 --> 00:05:43,000 Speaker 1: because they're having it in South Africa, and South Africa 109 00:05:43,080 --> 00:05:46,240 Speaker 1: might arrest him if he goes there. So how well 110 00:05:46,279 --> 00:05:48,159 Speaker 1: is that going to work? When this, you know, the 111 00:05:48,200 --> 00:05:51,440 Speaker 1: second largest member of the Bricks can't even go to 112 00:05:51,480 --> 00:05:54,120 Speaker 1: the Bricks meeting or they'll arrest him. How well is 113 00:05:54,120 --> 00:05:56,760 Speaker 1: that working out? So not too well. But Putin did 114 00:05:56,800 --> 00:06:01,760 Speaker 1: address remotely and emphasized that de dollarization is gaining momentum. 115 00:06:01,839 --> 00:06:06,360 Speaker 1: He said, the dollars receding globally centrality is a quote 116 00:06:06,360 --> 00:06:11,280 Speaker 1: objective and irreversible process end quote. So it's his objective 117 00:06:11,360 --> 00:06:14,360 Speaker 1: and it's irreversible. Once this starts going into place, it 118 00:06:14,400 --> 00:06:17,200 Speaker 1: doesn't come back. I would probably agree with that. He 119 00:06:17,240 --> 00:06:20,000 Speaker 1: claimed that the five BRICKS members Russia, China, Indie, Brazil 120 00:06:20,040 --> 00:06:23,600 Speaker 1: and South Africa are becoming the new world economic leaders, 121 00:06:23,960 --> 00:06:26,680 Speaker 1: adding that their cumulative share of global GDP has reached 122 00:06:26,760 --> 00:06:30,400 Speaker 1: twenty six percent. Now what does that mean. Well, remember 123 00:06:30,440 --> 00:06:33,360 Speaker 1: I said the G seven, which is the leading countries 124 00:06:33,360 --> 00:06:36,880 Speaker 1: in the world today, are about on par with bricks. 125 00:06:36,880 --> 00:06:39,520 Speaker 1: Bricks has already surpassed the Group of seven leading industrial 126 00:06:39,800 --> 00:06:44,479 Speaker 1: industrialized nations, accounting for thirty one percent of global economy 127 00:06:44,880 --> 00:06:48,200 Speaker 1: compared to only thirty percent for the G seven. So 128 00:06:48,200 --> 00:06:52,120 Speaker 1: that's what he's talking about. They're already exceeding. We've seen 129 00:06:52,240 --> 00:06:56,560 Speaker 1: China's President g is urging bricks to become a geopolitical 130 00:06:56,839 --> 00:07:00,479 Speaker 1: rival to the G seven. Quote, China will push the 131 00:07:00,480 --> 00:07:02,640 Speaker 1: bricks block of emerging markets to become a full scale 132 00:07:02,800 --> 00:07:11,720 Speaker 1: rival to the G seven this week cooperation versus coercion. 133 00:07:12,400 --> 00:07:15,400 Speaker 1: There's two ways to get things in life. One is 134 00:07:15,440 --> 00:07:17,600 Speaker 1: to work with somebody else to get it. The second 135 00:07:17,600 --> 00:07:20,360 Speaker 1: way is to just go and steal it. And the 136 00:07:20,400 --> 00:07:22,600 Speaker 1: thing that I just continue to see over and over 137 00:07:22,640 --> 00:07:27,120 Speaker 1: in this is why is the world driven into this competitive, 138 00:07:27,400 --> 00:07:32,880 Speaker 1: co coercive world as opposed to a cooperative world. So 139 00:07:32,880 --> 00:07:37,120 Speaker 1: when we look at this President g is urging urging 140 00:07:37,360 --> 00:07:41,000 Speaker 1: the bricks to become a geopolitical rival, why why do 141 00:07:41,040 --> 00:07:43,120 Speaker 1: they got to be a rival. We see that they're 142 00:07:43,160 --> 00:07:46,520 Speaker 1: meeting about allowing new countries to come into the bricks. 143 00:07:46,960 --> 00:07:50,160 Speaker 1: So should we allow Saudi Arabia to come in or 144 00:07:50,200 --> 00:07:54,520 Speaker 1: whatever countries they're debating about. Why wouldn't you just want 145 00:07:54,520 --> 00:07:57,520 Speaker 1: them all like they're a trading block. Why wouldn't you 146 00:07:57,520 --> 00:07:59,960 Speaker 1: just want to trade with as many nations as is possible. 147 00:08:01,640 --> 00:08:04,200 Speaker 1: Why is it an argument some nations don't want them 148 00:08:04,200 --> 00:08:06,400 Speaker 1: to come in, some nations do. Well, we don't want 149 00:08:06,400 --> 00:08:09,240 Speaker 1: them in because we're protectionists, right, we have to protect 150 00:08:09,280 --> 00:08:12,520 Speaker 1: ourselves and we export these commodities. But if you bring 151 00:08:12,600 --> 00:08:15,480 Speaker 1: these people in and they're competition, they're going to export 152 00:08:15,520 --> 00:08:19,760 Speaker 1: the same commodities, and so we can't have that protectionism. 153 00:08:21,280 --> 00:08:22,840 Speaker 1: And so this is the state of the world, which 154 00:08:22,880 --> 00:08:25,600 Speaker 1: is why I call this the decentralized revolution. The world 155 00:08:25,680 --> 00:08:28,840 Speaker 1: is breaking apart. The days of global trade and cooperation 156 00:08:29,240 --> 00:08:33,000 Speaker 1: have come to an end, and they're rapidly devolving into 157 00:08:33,080 --> 00:08:35,680 Speaker 1: this where presidency is now urging them to become a 158 00:08:35,679 --> 00:08:39,560 Speaker 1: geopolitical rival, not a partner, not a trading partner, not 159 00:08:39,679 --> 00:08:42,840 Speaker 1: working cooperation. Not Hey, if we work together, some of 160 00:08:42,840 --> 00:08:47,480 Speaker 1: our parts equal is greater than the whatever it is. Together, 161 00:08:47,520 --> 00:08:50,520 Speaker 1: we're stronger than we are separate. No, he's not saying 162 00:08:50,520 --> 00:08:53,200 Speaker 1: that we should work together. What he's saying is we 163 00:08:53,240 --> 00:08:56,600 Speaker 1: need to become a rival and we need to basically 164 00:08:56,640 --> 00:08:58,680 Speaker 1: fight against you and put you back in your place. 165 00:08:59,360 --> 00:09:01,800 Speaker 1: This is not a good trend, and it's one that 166 00:09:01,840 --> 00:09:04,520 Speaker 1: I cover every single week. The decentralized Revolution. If you're 167 00:09:04,559 --> 00:09:06,520 Speaker 1: tuned in, you're listening to the Mark Mass Show, of course, 168 00:09:07,080 --> 00:09:09,440 Speaker 1: always talking about the decentralized revolution as we look at 169 00:09:09,480 --> 00:09:12,080 Speaker 1: it through the lens of politics, finance, and technology. I'm 170 00:09:12,120 --> 00:09:14,600 Speaker 1: running through some of the latest breaking news headlines of 171 00:09:14,600 --> 00:09:17,200 Speaker 1: this week, and it's, like I said, it's been a big, 172 00:09:17,240 --> 00:09:19,400 Speaker 1: big week. When we come back and talk about the 173 00:09:19,400 --> 00:09:22,120 Speaker 1: biggest reform to US financial markets in over a decade, 174 00:09:22,520 --> 00:09:25,000 Speaker 1: and what the heck is going on in the bitcoin space, 175 00:09:25,040 --> 00:09:26,920 Speaker 1: some big big moves there. Don't go away. I'll be 176 00:09:27,000 --> 00:09:28,400 Speaker 1: right back, all right, Welcome back. If you're just tune in, 177 00:09:28,480 --> 00:09:30,800 Speaker 1: you're listening to the Mark Mass Show, we're talking about 178 00:09:31,480 --> 00:09:33,880 Speaker 1: always the decentralized revolution. We just talked about that in 179 00:09:33,880 --> 00:09:36,440 Speaker 1: the segment before talking about what's going on with the 180 00:09:36,480 --> 00:09:39,600 Speaker 1: Bricks conference this week. If you missed it, don't worry, 181 00:09:39,760 --> 00:09:41,760 Speaker 1: go back check it out on the podcast. Just search 182 00:09:41,760 --> 00:09:44,160 Speaker 1: the Mark Mass Show in your favorite podcast player, or 183 00:09:44,280 --> 00:09:46,720 Speaker 1: watch me on YouTube. Just search market discriptors on YouTube 184 00:09:46,840 --> 00:09:49,080 Speaker 1: and you can watch me there and hit me up 185 00:09:49,120 --> 00:09:50,640 Speaker 1: on social media. What's up, man, I want to hear 186 00:09:50,679 --> 00:09:52,800 Speaker 1: from you. Hit me up on social media Twitter, Instagram, 187 00:09:52,840 --> 00:09:56,199 Speaker 1: I'm pretty active there, Mark Moss at one Mark Moss, 188 00:09:56,240 --> 00:09:57,680 Speaker 1: you can find me there. I'd love to hear from you. 189 00:09:58,440 --> 00:10:01,640 Speaker 1: Assuming that Elon Musk lets me back into my Twitter account. 190 00:10:02,880 --> 00:10:06,920 Speaker 1: Sad sad news learned from my mistakes. I got my 191 00:10:07,000 --> 00:10:10,839 Speaker 1: Twitter account taken over by hackers, and even as a 192 00:10:10,880 --> 00:10:15,120 Speaker 1: blue Check paid subscriber, where I've had to submit my 193 00:10:15,400 --> 00:10:19,200 Speaker 1: ID verification, I think my passport all that, they still 194 00:10:19,400 --> 00:10:21,960 Speaker 1: can't get me back into my account. Now. I don't 195 00:10:21,960 --> 00:10:25,560 Speaker 1: know exactly what happened, but what I do know is 196 00:10:26,000 --> 00:10:28,840 Speaker 1: all of a sudden, my inbox started just getting flooded 197 00:10:28,880 --> 00:10:31,360 Speaker 1: with emails. I'm like, what the heck is going on? 198 00:10:31,400 --> 00:10:33,360 Speaker 1: Where are all these emails coming from? And I start 199 00:10:33,440 --> 00:10:36,240 Speaker 1: looking and each one was like, oh, thanks for subscribing, 200 00:10:36,360 --> 00:10:39,960 Speaker 1: confirming your subscription, you know, all these things, and I 201 00:10:40,040 --> 00:10:42,319 Speaker 1: was like, man, it looks like somebody got my email 202 00:10:42,360 --> 00:10:46,479 Speaker 1: address and went and subscribed me to like a thousand newsletters, 203 00:10:46,920 --> 00:10:49,480 Speaker 1: which is exactly what happened. So then I started thinking, 204 00:10:49,520 --> 00:10:54,280 Speaker 1: why would that happen? What's going on? They're probably going 205 00:10:54,360 --> 00:10:56,480 Speaker 1: to do something like some sort of like purchases on 206 00:10:56,520 --> 00:10:59,120 Speaker 1: my credit cards and then all these emails spam is 207 00:10:59,120 --> 00:11:01,720 Speaker 1: to like obscure these messages, I'm guessing. So I start 208 00:11:01,800 --> 00:11:03,960 Speaker 1: kind of googling it and that looks like exactly what 209 00:11:04,000 --> 00:11:07,520 Speaker 1: this sort of scam is. And then what I tried 210 00:11:07,520 --> 00:11:08,959 Speaker 1: to log into my Twitter account and found out that 211 00:11:09,040 --> 00:11:10,640 Speaker 1: I was logged out of my Twitter account. Now I 212 00:11:10,640 --> 00:11:12,800 Speaker 1: don't understand how this worked because as far as I know, 213 00:11:12,920 --> 00:11:17,040 Speaker 1: they don't have access to my email. Gmail is my 214 00:11:17,120 --> 00:11:21,640 Speaker 1: email provider. All of my emails have hard unique passwords. 215 00:11:21,640 --> 00:11:23,200 Speaker 1: So what I mean by that is there are sixteen 216 00:11:23,320 --> 00:11:26,880 Speaker 1: characters long, and they have numbers, digits, special characters, all 217 00:11:26,920 --> 00:11:29,960 Speaker 1: of that. Everyone's unique. So I don't know if they 218 00:11:29,960 --> 00:11:32,480 Speaker 1: have access to my email or not. But the problem 219 00:11:32,559 --> 00:11:36,320 Speaker 1: that has been created that I didn't fix I should 220 00:11:36,360 --> 00:11:38,520 Speaker 1: have known better, so let me tell you is in 221 00:11:38,559 --> 00:11:41,319 Speaker 1: my Twitter account and other social medi accounts have this 222 00:11:41,360 --> 00:11:45,360 Speaker 1: as well. I didn't have the two factor authentication turned on, 223 00:11:46,120 --> 00:11:47,800 Speaker 1: and so what they did is when they gained access 224 00:11:47,840 --> 00:11:49,440 Speaker 1: to my Twitter account, which I still don't know how 225 00:11:49,480 --> 00:11:54,000 Speaker 1: that happened. They turned the two FA on and so 226 00:11:54,280 --> 00:11:56,320 Speaker 1: I was able to go back and reset the password 227 00:11:56,400 --> 00:11:59,120 Speaker 1: because it still synks to my email. I changed my 228 00:11:59,120 --> 00:12:01,800 Speaker 1: password on my email, I changed the password for my Twitter, 229 00:12:01,960 --> 00:12:03,840 Speaker 1: but I still can't log in because I don't have 230 00:12:03,920 --> 00:12:08,840 Speaker 1: the two FA code. Should be a pretty simple fix, 231 00:12:09,400 --> 00:12:12,440 Speaker 1: but elon Musk and Twitter support don't seem to want 232 00:12:12,440 --> 00:12:14,319 Speaker 1: to reply to this if I send them emails almost 233 00:12:14,320 --> 00:12:16,520 Speaker 1: every single day and I'm out. So anyway, if you 234 00:12:16,559 --> 00:12:18,760 Speaker 1: send me emails on Twitter for now message on Twitter, 235 00:12:18,800 --> 00:12:20,840 Speaker 1: I may not get it anyway. Sorry for that, but 236 00:12:21,040 --> 00:12:22,680 Speaker 1: let that be a lesson to you. Turn two FA 237 00:12:22,720 --> 00:12:26,079 Speaker 1: on now. Another tip pro tip for your two FA 238 00:12:26,120 --> 00:12:29,800 Speaker 1: that's SEC two factor authentication. So on your phone you 239 00:12:29,800 --> 00:12:33,800 Speaker 1: can download an app like Google Authenticator for example. Authie 240 00:12:33,960 --> 00:12:36,720 Speaker 1: is another one. You create that and then when you 241 00:12:36,800 --> 00:12:39,760 Speaker 1: turn two factor authentication on, most of these platforms have 242 00:12:39,800 --> 00:12:41,800 Speaker 1: them now. Your social media platforms have them, my email 243 00:12:41,800 --> 00:12:45,600 Speaker 1: providers have them. Obviously, your cryptocurrency accounts have them as well. 244 00:12:46,000 --> 00:12:47,880 Speaker 1: It's going to give you like a barcode or a 245 00:12:47,960 --> 00:12:49,720 Speaker 1: QR code and you'll scan it with the app and 246 00:12:49,760 --> 00:12:51,719 Speaker 1: then it sinks it and then it's always going to 247 00:12:51,760 --> 00:12:54,839 Speaker 1: produce this new code. A couple pro tips. One, the 248 00:12:55,920 --> 00:13:01,280 Speaker 1: two FA code that it gives you back that up, 249 00:13:02,120 --> 00:13:04,040 Speaker 1: because if you back it up, if you create it 250 00:13:04,080 --> 00:13:06,840 Speaker 1: on your phone, but then you lose your phone, then 251 00:13:06,920 --> 00:13:09,520 Speaker 1: you could no longer get into your accounts. Now, if 252 00:13:09,559 --> 00:13:12,120 Speaker 1: you have that two FA code backed up, you can 253 00:13:12,120 --> 00:13:14,439 Speaker 1: get into a phone and then you can just sync 254 00:13:14,480 --> 00:13:16,760 Speaker 1: it up again. Okay, that's pro tip number one. Pro 255 00:13:16,800 --> 00:13:20,960 Speaker 1: tip number two is don't use it on your main phone, 256 00:13:21,800 --> 00:13:25,360 Speaker 1: specifically on your cryptocurrency accounts, your bigcoin accounts. And the 257 00:13:25,400 --> 00:13:26,959 Speaker 1: reason why is because what happens is a lot of 258 00:13:26,960 --> 00:13:30,400 Speaker 1: times they do this swim simswap where somebody will call 259 00:13:30,440 --> 00:13:32,840 Speaker 1: into your mobile phone provider and they'll get them to 260 00:13:32,920 --> 00:13:36,560 Speaker 1: transfer your SIM to their sim, and then they'll use 261 00:13:36,600 --> 00:13:39,160 Speaker 1: your phone to reset your passwords and get access to 262 00:13:39,160 --> 00:13:42,360 Speaker 1: all your two factor authentication. Then they can get into 263 00:13:42,400 --> 00:13:45,280 Speaker 1: all your accounts. So I use these apps for my 264 00:13:45,280 --> 00:13:47,120 Speaker 1: two FA but I use them on an old phone 265 00:13:47,440 --> 00:13:49,800 Speaker 1: that I don't use anymore that's been completely factory reset. 266 00:13:50,040 --> 00:13:52,160 Speaker 1: You can go to Walmart and buy an old Android 267 00:13:52,200 --> 00:13:55,000 Speaker 1: phone for fifty bucks, and you can do that and 268 00:13:55,240 --> 00:13:58,760 Speaker 1: use that as your two fa not your regular phone. 269 00:13:58,800 --> 00:14:03,120 Speaker 1: Another pro tip is the email accounts I use with 270 00:14:03,200 --> 00:14:07,160 Speaker 1: my cryptocurrency accounts are not the ones that I use 271 00:14:07,240 --> 00:14:09,800 Speaker 1: for anything else. So even if you get my email, 272 00:14:10,600 --> 00:14:12,880 Speaker 1: and even if you get my phone, you hack my email, 273 00:14:12,920 --> 00:14:15,280 Speaker 1: you hack my phone, simp spot my phone, you still 274 00:14:15,320 --> 00:14:17,600 Speaker 1: won't get access to those accounts because I use them 275 00:14:17,679 --> 00:14:21,480 Speaker 1: different emails and different phones. That being said, I think 276 00:14:21,520 --> 00:14:23,840 Speaker 1: I'm so smart, but it didn't help me with my 277 00:14:23,840 --> 00:14:25,360 Speaker 1: Twitter account. So let that be a lesson to you. 278 00:14:25,400 --> 00:14:28,160 Speaker 1: Hopefully that makes sense. Jumping back into some of these 279 00:14:28,720 --> 00:14:30,760 Speaker 1: news headlines of the week, that was big news in 280 00:14:30,800 --> 00:14:33,800 Speaker 1: my world, but big news outside of my world is 281 00:14:33,840 --> 00:14:37,800 Speaker 1: what the heck is going on in the economy. Just 282 00:14:37,840 --> 00:14:40,560 Speaker 1: when it looked like a soft landing was evident and 283 00:14:40,640 --> 00:14:43,360 Speaker 1: we were running strong in a bowl market, we've been 284 00:14:43,400 --> 00:14:47,520 Speaker 1: seeing some weakness in the market, specifically looking at the 285 00:14:47,680 --> 00:14:54,600 Speaker 1: ten year yield on the US treasuries, as I talked 286 00:14:54,600 --> 00:14:56,360 Speaker 1: about on my main YouTube channel, kind of talking about 287 00:14:56,360 --> 00:14:58,480 Speaker 1: how the bear market was over and how the bowl 288 00:14:58,480 --> 00:15:00,960 Speaker 1: market is back, because technically, when the market's drop by 289 00:15:00,960 --> 00:15:02,560 Speaker 1: twenty percent, you're in a bear market. When they go 290 00:15:02,640 --> 00:15:04,080 Speaker 1: up by twenty percent, you're in a bowl market. So 291 00:15:04,080 --> 00:15:06,440 Speaker 1: technically we're in a bull market. And I've talked about 292 00:15:06,480 --> 00:15:09,240 Speaker 1: how in bowl markets they're very volatile, and so they 293 00:15:09,240 --> 00:15:10,800 Speaker 1: could go up and down, up and down, up and down, 294 00:15:10,880 --> 00:15:13,840 Speaker 1: and that's sort of what we're seeing, massive massive volatility. 295 00:15:14,120 --> 00:15:17,800 Speaker 1: At the end of these bubble markets that we have, 296 00:15:17,880 --> 00:15:20,000 Speaker 1: they just get more volatile. What we've seen is that 297 00:15:20,080 --> 00:15:23,800 Speaker 1: China and Japan are both selling treasuries to pay their 298 00:15:23,840 --> 00:15:27,320 Speaker 1: debt and to prop up their currencies. China is in 299 00:15:27,360 --> 00:15:30,760 Speaker 1: a very very serious credit crisis. They need dollars really, 300 00:15:30,800 --> 00:15:34,680 Speaker 1: really bad, so they're selling US treasuries now they've already 301 00:15:34,800 --> 00:15:36,600 Speaker 1: been d dollarized. And I talked about this in the 302 00:15:36,680 --> 00:15:39,200 Speaker 1: segment before the break, how China and Russia have already 303 00:15:39,200 --> 00:15:40,720 Speaker 1: been d dollars for a long time, so no one's 304 00:15:40,760 --> 00:15:45,080 Speaker 1: buying the treasuries, and now they're selling the treasuries. It's 305 00:15:45,200 --> 00:15:48,040 Speaker 1: not a good place to be. It's a feedback loop 306 00:15:48,040 --> 00:15:51,160 Speaker 1: that leads into a doom loop. China sells because of 307 00:15:51,200 --> 00:15:54,360 Speaker 1: solvency issues. They cause rates to go up and prices 308 00:15:54,400 --> 00:15:59,080 Speaker 1: to come down, making their assets the US treasuries. They 309 00:15:59,120 --> 00:16:01,440 Speaker 1: hold worth life less, so that means they have to 310 00:16:01,440 --> 00:16:03,640 Speaker 1: sell more of them. When they sell more of them, 311 00:16:03,880 --> 00:16:06,640 Speaker 1: the ones they hold sell less or worthless, again, they 312 00:16:06,640 --> 00:16:09,160 Speaker 1: have to sell more of them again. It's what we 313 00:16:09,160 --> 00:16:11,560 Speaker 1: would call slippage if you were selling large positions in 314 00:16:11,640 --> 00:16:15,560 Speaker 1: equity market. So that's what's going on in the world. 315 00:16:15,560 --> 00:16:18,360 Speaker 1: What we can see in other areas of the world. 316 00:16:18,920 --> 00:16:23,680 Speaker 1: We have some talk of potentially the FED the Federal 317 00:16:23,680 --> 00:16:27,000 Speaker 1: Reserve changing their inflation targets. And this is pretty interesting 318 00:16:27,400 --> 00:16:28,920 Speaker 1: something to keep an eye on. I've been talking about 319 00:16:28,960 --> 00:16:30,600 Speaker 1: for a while that I always thought this was to happen. 320 00:16:31,040 --> 00:16:33,200 Speaker 1: The two percent inflation target that the FED has as 321 00:16:33,240 --> 00:16:36,840 Speaker 1: an arbitrary number. It came out of nowhere and it 322 00:16:36,840 --> 00:16:39,720 Speaker 1: doesn't really mean anything, So why not just change it 323 00:16:39,720 --> 00:16:42,360 Speaker 1: to three percent or four percent or twelve percent or 324 00:16:42,400 --> 00:16:44,760 Speaker 1: whatever it is. Obviously, if you go too high, the 325 00:16:44,760 --> 00:16:46,320 Speaker 1: people aren't going to be happy about it. They're going 326 00:16:46,360 --> 00:16:49,760 Speaker 1: to revolt. But what we're starting to see is Jason Furman, 327 00:16:50,120 --> 00:16:52,200 Speaker 1: an economist from Harvard, wrote an op ed in the 328 00:16:52,240 --> 00:16:54,920 Speaker 1: Wall Street Journal making the case that the FED should 329 00:16:54,960 --> 00:16:57,480 Speaker 1: change the inflation target to three percent. And what will 330 00:16:57,480 --> 00:17:02,920 Speaker 1: probably happen is we'll start to see these, you know, academics, 331 00:17:03,680 --> 00:17:07,760 Speaker 1: the experts start to write these thought pieces, these op eds, 332 00:17:07,800 --> 00:17:10,600 Speaker 1: and they'll start to talk seeding this information out there. 333 00:17:10,800 --> 00:17:14,679 Speaker 1: Why the Fed, why two percent, Why it's an arbitrary number, 334 00:17:14,880 --> 00:17:17,320 Speaker 1: Why it means nothing, Why it should be three percent? 335 00:17:17,960 --> 00:17:21,240 Speaker 1: You know, people think you listening, might think that the 336 00:17:21,240 --> 00:17:23,800 Speaker 1: money supply has to expand, right, how can the economy 337 00:17:23,800 --> 00:17:27,159 Speaker 1: grow up? The money spot doesn't expand, and so we 338 00:17:27,200 --> 00:17:29,240 Speaker 1: need a two percent inflation rate, so the money canspy. Well, 339 00:17:29,440 --> 00:17:33,240 Speaker 1: if two percent is good, why not five? Why not fifty? 340 00:17:33,359 --> 00:17:35,520 Speaker 1: If it's so good, how about one hundred? Let's just 341 00:17:35,520 --> 00:17:38,560 Speaker 1: do one hundred? Right again, These crazy thought experiments really 342 00:17:38,560 --> 00:17:41,040 Speaker 1: help you figure out where things are going. My guess is, 343 00:17:41,080 --> 00:17:45,320 Speaker 1: though they see this in and then it finally comes 344 00:17:45,359 --> 00:17:48,439 Speaker 1: to pass. We'll see that probably in the next election cycle, 345 00:17:48,680 --> 00:17:51,000 Speaker 1: whether Trump or Biden win or neither of them. But 346 00:17:51,040 --> 00:17:53,520 Speaker 1: we know both Trump and Biden don't want Powell to 347 00:17:53,560 --> 00:17:55,399 Speaker 1: stay at the Federal Reserve. If you're just tuning in 348 00:17:55,440 --> 00:17:57,160 Speaker 1: your listening to the Mark ma Show, we're talking about 349 00:17:57,160 --> 00:17:59,119 Speaker 1: some of the latest breaking news headlines this week, so 350 00:17:59,160 --> 00:18:01,320 Speaker 1: you can understand what the heck is going on. I 351 00:18:01,359 --> 00:18:02,640 Speaker 1: got a lot more to cover when I come back, 352 00:18:03,400 --> 00:18:07,040 Speaker 1: including what the heck is going on in the financial 353 00:18:07,040 --> 00:18:09,640 Speaker 1: markets and Bitcoin. Don't go away. I'll be right back, 354 00:18:10,960 --> 00:18:12,480 Speaker 1: all right, Welcome back. If you just tune in, you're 355 00:18:12,480 --> 00:18:14,920 Speaker 1: listening to the Mark Mas Show talking about the latest 356 00:18:14,920 --> 00:18:17,919 Speaker 1: breaking news headlines of this week that show us that 357 00:18:18,000 --> 00:18:21,120 Speaker 1: we are still on the path of the decentralized revolution. 358 00:18:21,520 --> 00:18:23,760 Speaker 1: We talked about the Bricks meeting that's going on, and 359 00:18:23,800 --> 00:18:26,400 Speaker 1: if that doesn't tell you the decentralized revolution is happening, 360 00:18:26,560 --> 00:18:28,359 Speaker 1: then I don't know what to tell you, because that 361 00:18:28,480 --> 00:18:30,560 Speaker 1: is just smacking you right in the face. President g 362 00:18:30,840 --> 00:18:34,280 Speaker 1: is basically coming out and saying it directly to your face. 363 00:18:35,080 --> 00:18:37,800 Speaker 1: He wants to rival the G seven. They want to 364 00:18:37,840 --> 00:18:40,560 Speaker 1: break their monopoly. Now, some of the big news I 365 00:18:40,600 --> 00:18:42,520 Speaker 1: saw this week that I thought was very interesting. Something 366 00:18:42,520 --> 00:18:45,840 Speaker 1: to pay attention to is that there is only one 367 00:18:46,280 --> 00:18:49,520 Speaker 1: car on the market in the United States now that 368 00:18:49,720 --> 00:18:54,320 Speaker 1: sells for less than twenty thousand dollars. Because inflation right, 369 00:18:54,440 --> 00:18:57,119 Speaker 1: prices are just going up so fast that most people 370 00:18:57,200 --> 00:18:59,520 Speaker 1: still just can't afford to keep up with things. And 371 00:18:59,600 --> 00:19:04,720 Speaker 1: now we have only one car, a Mitchubc Mirage is 372 00:19:04,760 --> 00:19:06,760 Speaker 1: the only one that you can get for less than 373 00:19:06,760 --> 00:19:09,600 Speaker 1: twenty thousand dollars. Just five years ago, there were dozens 374 00:19:09,640 --> 00:19:11,600 Speaker 1: and dozens of new cars that sold for less than 375 00:19:11,640 --> 00:19:15,959 Speaker 1: twenty thousand, and today only one. Now, today's average new 376 00:19:15,960 --> 00:19:19,199 Speaker 1: car loan has a monthly payment of seven hundred and 377 00:19:19,359 --> 00:19:23,880 Speaker 1: fifty dollars. That's the average monthly payment with an interest 378 00:19:23,920 --> 00:19:26,680 Speaker 1: rate of nine point five percent. With used cars, the 379 00:19:26,720 --> 00:19:30,920 Speaker 1: average rate is thirteen point seven percent. It's a big deal. 380 00:19:31,600 --> 00:19:33,359 Speaker 1: So if you want to think about this, I always 381 00:19:33,359 --> 00:19:36,800 Speaker 1: talk about how inflation steals your life. And what do 382 00:19:36,840 --> 00:19:39,959 Speaker 1: I mean by that? Well, I have to spend my life, 383 00:19:40,240 --> 00:19:44,240 Speaker 1: my time working for money. Right. Time is the only 384 00:19:44,240 --> 00:19:45,760 Speaker 1: thing you can't get more of. So I have to 385 00:19:45,880 --> 00:19:48,720 Speaker 1: expend my life, my life's energy, but more importantly, my 386 00:19:49,040 --> 00:19:52,880 Speaker 1: life's time to get money. And so how much of 387 00:19:52,920 --> 00:19:55,719 Speaker 1: my life my time is required to get an asset. 388 00:19:56,160 --> 00:19:58,880 Speaker 1: So what we can see is that, according to Cox 389 00:19:58,880 --> 00:20:01,640 Speaker 1: Automotive data in the Wall Street Journal, it now takes 390 00:20:01,640 --> 00:20:05,040 Speaker 1: the average American forty two weeks of income to pay 391 00:20:05,040 --> 00:20:08,280 Speaker 1: off a car forty two weeks of income. So for 392 00:20:08,320 --> 00:20:11,480 Speaker 1: the average American, it takes almost a year ten months 393 00:20:11,480 --> 00:20:14,800 Speaker 1: of my life to get the average car. Now that 394 00:20:14,960 --> 00:20:19,159 Speaker 1: was only thirty three weeks before twenty twenty, So that's 395 00:20:20,240 --> 00:20:24,080 Speaker 1: almost ten more weeks of my life is required to 396 00:20:24,080 --> 00:20:26,280 Speaker 1: get the average car than it was just two and 397 00:20:26,320 --> 00:20:28,520 Speaker 1: a half years ago. Ten more weeks of my life. 398 00:20:28,600 --> 00:20:31,639 Speaker 1: That's two and a half months that I could spend 399 00:20:31,680 --> 00:20:35,040 Speaker 1: on vacation, I could spend working on my health, I 400 00:20:35,080 --> 00:20:38,000 Speaker 1: could start a new business. Now I have to give 401 00:20:38,080 --> 00:20:40,520 Speaker 1: that life just to go get the car that I 402 00:20:40,520 --> 00:20:42,760 Speaker 1: could have gotten before. That's what I'm talking about by 403 00:20:42,760 --> 00:20:45,920 Speaker 1: stealing your life. Now bargains trying to get the under 404 00:20:45,920 --> 00:20:50,199 Speaker 1: twenty thousand has gotten very, very difficult. So one mistake 405 00:20:50,240 --> 00:20:52,399 Speaker 1: that I see people making in the housing market, but 406 00:20:52,440 --> 00:20:54,679 Speaker 1: also in the car market. In the housing market is 407 00:20:54,680 --> 00:20:57,800 Speaker 1: that because interest rates have gone up so high, the 408 00:20:57,840 --> 00:21:00,159 Speaker 1: whole price has gotten too expensive, so they have to 409 00:21:00,160 --> 00:21:02,760 Speaker 1: come back down. People can't afford that they have to 410 00:21:02,880 --> 00:21:05,840 Speaker 1: come down, and the answer is no, they don't. People 411 00:21:05,880 --> 00:21:09,960 Speaker 1: will just buy less house. I wanted a three bedroom house, 412 00:21:10,000 --> 00:21:11,919 Speaker 1: now I can only buy a two bedroom house. I 413 00:21:11,960 --> 00:21:14,000 Speaker 1: wanted to buy in this school district. Now I got 414 00:21:14,000 --> 00:21:16,360 Speaker 1: to go buy in this school district. And so home 415 00:21:16,359 --> 00:21:19,119 Speaker 1: prices don't have to come down, people just buy a 416 00:21:19,080 --> 00:21:21,200 Speaker 1: smaller house. And the same with cars. So instead of 417 00:21:21,240 --> 00:21:23,359 Speaker 1: getting a brand new car, I just get a used car. 418 00:21:23,520 --> 00:21:26,000 Speaker 1: Instead of getting a used car with low miles, I 419 00:21:26,040 --> 00:21:28,840 Speaker 1: get a used car with high miles. That's what happens. People, 420 00:21:29,119 --> 00:21:32,240 Speaker 1: quality of life goes down. The average vehicle list on 421 00:21:32,359 --> 00:21:36,240 Speaker 1: used car lots was for twenty seven thousand dollars, which 422 00:21:36,280 --> 00:21:40,159 Speaker 1: is up thirty percent from pre pandemic levels. And at 423 00:21:40,200 --> 00:21:43,200 Speaker 1: the same time, we're seeing delinquency rates for auto loans 424 00:21:43,280 --> 00:21:46,240 Speaker 1: at the highest level since two thousand and six. So 425 00:21:46,680 --> 00:21:48,680 Speaker 1: not only can people not afford it, but now we're 426 00:21:48,680 --> 00:21:51,480 Speaker 1: seeing people lose cars at a faster rate than we 427 00:21:51,560 --> 00:21:54,879 Speaker 1: saw in the Great Financial Crash. Now, in regards to housing, 428 00:21:54,920 --> 00:21:56,920 Speaker 1: we're seeing sort of the same thing. Housing is a 429 00:21:56,920 --> 00:22:00,720 Speaker 1: little bit different because loans are locked in for longer 430 00:22:00,760 --> 00:22:04,280 Speaker 1: periods of time. The real estate market is an interesting beast, 431 00:22:04,840 --> 00:22:07,520 Speaker 1: something I talk about extensively. I'm not going to dig 432 00:22:07,560 --> 00:22:09,760 Speaker 1: into super deep here, but what we can see is 433 00:22:09,800 --> 00:22:13,199 Speaker 1: that while rates have gone higher, a lot of the 434 00:22:13,400 --> 00:22:16,200 Speaker 1: existing home sales were locked in at very low rates 435 00:22:16,200 --> 00:22:18,359 Speaker 1: two percent, three percent rates, and they don't want to 436 00:22:18,400 --> 00:22:20,760 Speaker 1: sell and they're not being affected by this. So when 437 00:22:20,760 --> 00:22:22,720 Speaker 1: you see the headlines, just remember that. When you see 438 00:22:22,720 --> 00:22:26,000 Speaker 1: the headlines of home interest rates are approaching eight percent, Now, 439 00:22:26,200 --> 00:22:28,320 Speaker 1: well just know that that doesn't affect most people. It 440 00:22:28,359 --> 00:22:32,440 Speaker 1: doesn't affect existing homes. It only affects new home buyers. 441 00:22:32,680 --> 00:22:35,320 Speaker 1: But if no one's selling and no one's buying, then 442 00:22:35,359 --> 00:22:37,280 Speaker 1: it doesn't really affect the price of the real estate. 443 00:22:37,560 --> 00:22:40,199 Speaker 1: Another news on the economy we saw we are seeing 444 00:22:40,320 --> 00:22:44,680 Speaker 1: potentially the biggest financial reform to the US financial market 445 00:22:44,960 --> 00:22:47,600 Speaker 1: since the Dodd Frank Act of twenty ten. No, why 446 00:22:47,640 --> 00:22:50,359 Speaker 1: is that a big deal? Well, it's a big deal 447 00:22:50,520 --> 00:22:55,200 Speaker 1: because these financial markets, specifically what we'd call the shadow 448 00:22:55,280 --> 00:22:59,560 Speaker 1: banking markets, have gotten way too big and gotten way 449 00:22:59,560 --> 00:23:02,760 Speaker 1: too powerful, and in my opinion, they work against the 450 00:23:02,760 --> 00:23:05,639 Speaker 1: best interests of their customers. Now, when you have somebody's money, 451 00:23:05,800 --> 00:23:07,960 Speaker 1: you have what's called a fiduciary duty. That means a 452 00:23:08,119 --> 00:23:11,760 Speaker 1: legal duty to do your best for that. But we 453 00:23:11,800 --> 00:23:14,240 Speaker 1: have these companies, the black rots State Series vanguards who 454 00:23:14,280 --> 00:23:18,040 Speaker 1: are not doing that. So they're pushing DEI, They're pushing 455 00:23:19,440 --> 00:23:23,199 Speaker 1: ESG mandates and investing on those guidelines into companies who 456 00:23:23,240 --> 00:23:26,520 Speaker 1: are not profitable. Like what happened with Budweiser because of 457 00:23:26,560 --> 00:23:31,120 Speaker 1: their DEI and their ESG mandates, they made decisions that 458 00:23:31,560 --> 00:23:35,240 Speaker 1: harmed the company. Now, if I'm a shareholder, the head 459 00:23:35,280 --> 00:23:37,399 Speaker 1: of those companies have a fiduciary duty to me to 460 00:23:37,520 --> 00:23:40,520 Speaker 1: increase the value of my shares, and they made decisions 461 00:23:40,600 --> 00:23:43,280 Speaker 1: that crashed the value of those shares, and so they've 462 00:23:43,680 --> 00:23:49,080 Speaker 1: gone against their legal duties. However, these companies are so 463 00:23:49,160 --> 00:23:51,280 Speaker 1: big they don't have to really abide by any of that, 464 00:23:51,280 --> 00:23:55,159 Speaker 1: and these sweeping regulations could potentially, maybe to be honest, 465 00:23:55,160 --> 00:23:57,360 Speaker 1: I don't have a lot of faith, but could potentially 466 00:23:57,760 --> 00:24:01,000 Speaker 1: bring some of that back in line. These shadow banks, 467 00:24:01,080 --> 00:24:05,560 Speaker 1: making them have transparency. Not only do they invest money 468 00:24:05,640 --> 00:24:08,760 Speaker 1: from their ultra wealthy clients, but they also throw massive 469 00:24:08,760 --> 00:24:11,880 Speaker 1: amounts of leverage borrowed capital into the mix. And they 470 00:24:11,880 --> 00:24:14,080 Speaker 1: do it with most of your money. So it's your 471 00:24:14,160 --> 00:24:16,720 Speaker 1: pension funds, it's your four oh one case that they're 472 00:24:16,920 --> 00:24:21,840 Speaker 1: using to invest into investments that they're sabotaging and working 473 00:24:21,840 --> 00:24:25,800 Speaker 1: against your best interests. Now, private funds, these private funds 474 00:24:25,840 --> 00:24:29,760 Speaker 1: are not nearly as regulated as these larger investment banks 475 00:24:30,000 --> 00:24:32,720 Speaker 1: and the SEC Securities and Exchange Commission, which is of 476 00:24:32,720 --> 00:24:36,240 Speaker 1: course working for your safety. They want to protect consumers, 477 00:24:37,119 --> 00:24:39,600 Speaker 1: and I say that sarcastically because they don't. They should 478 00:24:39,600 --> 00:24:41,920 Speaker 1: shut down in disgrace. But the SEC plans to meet 479 00:24:41,960 --> 00:24:45,480 Speaker 1: Wednesday to vote on standards for shadow banks that were 480 00:24:45,480 --> 00:24:50,840 Speaker 1: first proposed in February of twenty twenty two. And these 481 00:24:50,880 --> 00:24:54,760 Speaker 1: shadow banks are basically financial institutions that don't have a 482 00:24:54,880 --> 00:24:58,399 Speaker 1: traditional banking charter from a central bank. So if I 483 00:24:58,440 --> 00:24:59,920 Speaker 1: want to open up a bank to compete against Wells, 484 00:25:00,400 --> 00:25:03,000 Speaker 1: et cetera, I have to get a charter from the 485 00:25:03,080 --> 00:25:06,080 Speaker 1: Federal Reserve. They have to approve me, and it's very 486 00:25:06,320 --> 00:25:09,720 Speaker 1: restrictive and very stringent. But shadow banks are financial institutions 487 00:25:09,800 --> 00:25:12,840 Speaker 1: that don't have to get that charter. They typically engage 488 00:25:12,840 --> 00:25:16,320 Speaker 1: in lending in financial activities similar to those big banks, 489 00:25:16,520 --> 00:25:20,120 Speaker 1: but again they're not subject to the same regulations. They're 490 00:25:20,160 --> 00:25:22,399 Speaker 1: not required as whole as much capital as digital banks. 491 00:25:22,520 --> 00:25:25,640 Speaker 1: They're not subject to the same liquidity requirements as central banks, 492 00:25:25,640 --> 00:25:27,720 Speaker 1: so they can get way more risky. They can do 493 00:25:27,800 --> 00:25:30,439 Speaker 1: way more things potentially put you in way more danger, 494 00:25:32,160 --> 00:25:34,800 Speaker 1: and so we can see this across all different types 495 00:25:34,840 --> 00:25:38,520 Speaker 1: of markets. The problems with them is that because of 496 00:25:38,680 --> 00:25:44,920 Speaker 1: their lack of transparency, they're very difficult to regulate, and 497 00:25:45,119 --> 00:25:48,800 Speaker 1: they can really cause dramatic swings in financial markets. They 498 00:25:48,840 --> 00:25:52,560 Speaker 1: can contribute to financial instability by engaging in risky lending practices. 499 00:25:52,600 --> 00:25:56,119 Speaker 1: And of course, then if these consumers of these shadow 500 00:25:56,200 --> 00:25:59,040 Speaker 1: banks get into danger, they're going to want the government 501 00:25:59,119 --> 00:26:02,960 Speaker 1: to beld them out. So they cause all kinds of 502 00:26:03,200 --> 00:26:05,920 Speaker 1: financial instability, cause all kinds of financial shocks, They put 503 00:26:05,920 --> 00:26:08,119 Speaker 1: all kinds of people in danger. Now let me just 504 00:26:08,680 --> 00:26:10,560 Speaker 1: let me just say this, because I don't want you 505 00:26:10,560 --> 00:26:12,600 Speaker 1: to take this out of context. I don't think we 506 00:26:12,680 --> 00:26:14,840 Speaker 1: need the SEC to step in and do this. I 507 00:26:14,960 --> 00:26:16,320 Speaker 1: think that I shuill to do what I want with 508 00:26:16,400 --> 00:26:18,159 Speaker 1: my money. I think that if I want to go 509 00:26:18,160 --> 00:26:21,120 Speaker 1: buy lottery tickets or go gamble at all on roulette 510 00:26:21,440 --> 00:26:24,439 Speaker 1: in Vegas, I still to do that. But the problem 511 00:26:24,520 --> 00:26:28,120 Speaker 1: is with great freedom comes great responsibility. And most people 512 00:26:28,200 --> 00:26:30,680 Speaker 1: want the freedom, but they don't want the responsibility. So 513 00:26:31,160 --> 00:26:32,720 Speaker 1: let me do what I want with my money. But 514 00:26:32,920 --> 00:26:35,359 Speaker 1: if I put it into this risky gambling bank and 515 00:26:35,560 --> 00:26:38,000 Speaker 1: they don't give me any transparency and they lose it, 516 00:26:38,119 --> 00:26:40,119 Speaker 1: then I want the government to come settle that up 517 00:26:40,160 --> 00:26:43,000 Speaker 1: for me. So you can't have both. If you want 518 00:26:43,040 --> 00:26:46,200 Speaker 1: the freedom, you have to take the responsibility. Now, most 519 00:26:46,240 --> 00:26:49,600 Speaker 1: people aren't responsible enough. They don't put the time in 520 00:26:49,720 --> 00:26:52,720 Speaker 1: that's required to learn where they're putting their money. They 521 00:26:52,760 --> 00:26:56,080 Speaker 1: spend all types of time and effort to make the money. 522 00:26:56,440 --> 00:26:57,959 Speaker 1: We went to school, they got good grades, they got 523 00:26:57,960 --> 00:26:59,639 Speaker 1: a good job, They've done all this extra kilar stuff 524 00:26:59,640 --> 00:27:02,679 Speaker 1: to build career forward to make this money, and then 525 00:27:02,760 --> 00:27:04,160 Speaker 1: just give it to somebody else. And they they don't 526 00:27:04,160 --> 00:27:05,800 Speaker 1: even pay an attention to what happens with their money 527 00:27:05,920 --> 00:27:09,040 Speaker 1: after they've made it. And so the majority of people 528 00:27:09,160 --> 00:27:12,760 Speaker 1: don't have the responsibility, and that's why they want the 529 00:27:12,800 --> 00:27:15,760 Speaker 1: government to protect them from it. I think it's wrong. 530 00:27:16,560 --> 00:27:18,520 Speaker 1: I think you should have your own responsibility for your 531 00:27:18,600 --> 00:27:21,399 Speaker 1: own money, and if you can't be responsible for it, 532 00:27:21,760 --> 00:27:25,159 Speaker 1: then put it in the bank, not in one of 533 00:27:25,200 --> 00:27:27,000 Speaker 1: these risk institutions. If you're just tuning in, you're listening 534 00:27:27,080 --> 00:27:29,480 Speaker 1: to the Mark mass Show talking about the latest breaking 535 00:27:29,560 --> 00:27:32,040 Speaker 1: news headlines of the week. As we talk through the 536 00:27:32,119 --> 00:27:34,600 Speaker 1: decentralized Revolution, I'm going to come back and talk about 537 00:27:34,680 --> 00:27:36,680 Speaker 1: what the heck is going on in bitcoin. You don't 538 00:27:36,680 --> 00:27:38,520 Speaker 1: want to miss that, so don't go away. We're back, 539 00:27:38,680 --> 00:27:40,200 Speaker 1: all right, welcome back. If you're just tune in, you're 540 00:27:40,200 --> 00:27:42,280 Speaker 1: listening to the Mark Moss Show running through some of 541 00:27:42,320 --> 00:27:46,600 Speaker 1: the latest breaking news headlines this week of the decentralized revolution, 542 00:27:46,720 --> 00:27:48,840 Speaker 1: so you can see the play by play and man, 543 00:27:49,520 --> 00:27:51,760 Speaker 1: what the heck is going on with bitcoin today? Of course, 544 00:27:51,800 --> 00:27:55,920 Speaker 1: bitcoin is the technology that's powering this decentralized revolution, and 545 00:27:56,000 --> 00:27:58,879 Speaker 1: it's very volatile. We know that the price goes up 546 00:27:58,920 --> 00:28:02,240 Speaker 1: and down, and it swings very violently and very rapidly. 547 00:28:03,119 --> 00:28:05,119 Speaker 1: I don't talk about the price a lot because to me, 548 00:28:05,320 --> 00:28:08,680 Speaker 1: the price is one of the least interesting aspects of it. 549 00:28:09,640 --> 00:28:11,840 Speaker 1: And the reason why I say that is because bitcoin 550 00:28:11,960 --> 00:28:14,920 Speaker 1: isn't just a new technology. It's a technological revolution, meaning 551 00:28:14,960 --> 00:28:18,280 Speaker 1: it's going to change the entire world, the entire industries 552 00:28:18,280 --> 00:28:21,280 Speaker 1: as we know it. It's much more than just one 553 00:28:21,480 --> 00:28:24,080 Speaker 1: little asset. So I don't talk about the price a lot. However, 554 00:28:24,720 --> 00:28:26,680 Speaker 1: you know, people do pay attention to the price. I 555 00:28:26,800 --> 00:28:28,840 Speaker 1: call it the great bait and switch. People come in 556 00:28:29,119 --> 00:28:31,520 Speaker 1: for the price and then they stay for the freedom technology. 557 00:28:31,960 --> 00:28:34,680 Speaker 1: But what we do know is that bitcoin is still 558 00:28:34,920 --> 00:28:37,600 Speaker 1: up sixty percent on the year. So if you would 559 00:28:37,640 --> 00:28:40,320 Speaker 1: about in January, you're still up way on the money. However, 560 00:28:41,040 --> 00:28:43,960 Speaker 1: just as of recently it's fallen down. It's taken about 561 00:28:43,960 --> 00:28:46,440 Speaker 1: a ten to twelve percent tumble. It's back down to 562 00:28:46,440 --> 00:28:48,360 Speaker 1: about twenty five to twenty six thousand dollars, which is 563 00:28:48,400 --> 00:28:51,080 Speaker 1: a great opportunity for you to get in and buy 564 00:28:51,160 --> 00:28:52,760 Speaker 1: on that. But that's not what I want to talk 565 00:28:52,800 --> 00:28:56,320 Speaker 1: about today. What I want to talk about was big news, 566 00:28:56,880 --> 00:28:58,560 Speaker 1: and it's a little bit of a mystery. And the 567 00:28:58,680 --> 00:29:03,680 Speaker 1: mystery is is that an unidentified wallet has now become 568 00:29:04,160 --> 00:29:08,680 Speaker 1: the third largest bitcoin holder out of nowhere, like within 569 00:29:08,840 --> 00:29:13,200 Speaker 1: like weeks. The wallet has accumulated one hundred and eighteen 570 00:29:13,680 --> 00:29:18,840 Speaker 1: thousand bitcoins in only three months. Now. What we can 571 00:29:18,880 --> 00:29:22,720 Speaker 1: see is that this new wallet address was first transferred 572 00:29:22,720 --> 00:29:25,800 Speaker 1: bitcoin was transferred zero point twenty five a quarter of 573 00:29:25,840 --> 00:29:30,120 Speaker 1: a bitcoin on March eighth of twenty twenty three, and 574 00:29:30,200 --> 00:29:34,160 Speaker 1: then the next month or sorry, two months later in May, 575 00:29:34,520 --> 00:29:38,880 Speaker 1: the wallet accumulated sixty four thousand bitcoin, and then in 576 00:29:39,080 --> 00:29:45,480 Speaker 1: June another fifty four thousand bitcoin. That's a lot one 577 00:29:45,600 --> 00:29:50,520 Speaker 1: hundred and eighteen thousand bitcoin, a total value of over 578 00:29:50,840 --> 00:29:54,400 Speaker 1: three billion dollars at the current bitcoin exchange rate of 579 00:29:54,480 --> 00:29:58,640 Speaker 1: twenty six thousand. Now that's a today's price. That being said, 580 00:29:58,840 --> 00:30:00,680 Speaker 1: it looks like they're in someone of a loss because 581 00:30:00,680 --> 00:30:03,720 Speaker 1: they were buying one bigwoin was higher, so they're actually 582 00:30:03,840 --> 00:30:06,840 Speaker 1: down on their investment. But who the heck can buy 583 00:30:07,160 --> 00:30:10,760 Speaker 1: three billion dollars worth of bitcoin? Now Michael Saylor has 584 00:30:10,920 --> 00:30:13,400 Speaker 1: accumulated about that much bitcoin, but he's done over years 585 00:30:14,040 --> 00:30:16,320 Speaker 1: at different price points than through raising lots of money. 586 00:30:16,600 --> 00:30:20,080 Speaker 1: Who can just break off three billion dollars in the 587 00:30:20,160 --> 00:30:21,640 Speaker 1: course of a couple of months, And so this is 588 00:30:21,640 --> 00:30:25,200 Speaker 1: of course led to lots of speculation. Now, the bitcoin 589 00:30:25,280 --> 00:30:30,640 Speaker 1: blockchain is what's called anonymous but not private, all right. 590 00:30:30,960 --> 00:30:34,520 Speaker 1: What does that mean. It means that we can see 591 00:30:34,600 --> 00:30:37,200 Speaker 1: these transactions because it's an open monetary network. So we 592 00:30:37,280 --> 00:30:40,880 Speaker 1: can see that there's a wallet that's accumulated all this bitcoin. 593 00:30:41,160 --> 00:30:44,920 Speaker 1: It's anonymous, we don't know we don't know who that 594 00:30:45,120 --> 00:30:47,800 Speaker 1: wallet is. There's no name or idea attached to that. 595 00:30:48,320 --> 00:30:50,560 Speaker 1: It's not private, so private would be we couldn't see 596 00:30:50,560 --> 00:30:53,640 Speaker 1: it at all. So it's not private. We can see it. 597 00:30:54,000 --> 00:30:55,440 Speaker 1: It's just a not if we don't know who it is, 598 00:30:56,520 --> 00:30:59,960 Speaker 1: all right. So again this leads to lots of speculation. 599 00:31:00,240 --> 00:31:02,760 Speaker 1: Some of the speculation as I search on my own 600 00:31:02,920 --> 00:31:05,200 Speaker 1: through online data to see if anybody can come up 601 00:31:05,200 --> 00:31:09,720 Speaker 1: with some numbers. One version is that the funds collected 602 00:31:09,760 --> 00:31:15,200 Speaker 1: in this wallet represent Blackrock. This one seems like probably 603 00:31:15,280 --> 00:31:18,720 Speaker 1: the most likely case. I don't know, potentially the most 604 00:31:18,800 --> 00:31:24,080 Speaker 1: likely place. That large purchase of bitcoins for for these 605 00:31:24,080 --> 00:31:28,520 Speaker 1: bitcoin occurred exactly one month before the company announced the 606 00:31:28,560 --> 00:31:31,440 Speaker 1: Bitcoin ETF. So of course the big news is getting 607 00:31:31,480 --> 00:31:34,560 Speaker 1: a spot bitcoin BTF ETF. Blackrock being you know, the 608 00:31:34,640 --> 00:31:37,440 Speaker 1: largest asset manager of the world, and so if they 609 00:31:37,480 --> 00:31:39,120 Speaker 1: want to open up the ETF, they're going to acquire 610 00:31:39,160 --> 00:31:41,640 Speaker 1: lots of bitcoin, and so they want to do that 611 00:31:41,720 --> 00:31:44,800 Speaker 1: at the best prices, and so they could potentially move 612 00:31:44,880 --> 00:31:48,280 Speaker 1: the market. They could easily seed some news out there, 613 00:31:48,760 --> 00:31:50,880 Speaker 1: get some cells going, you know, push the market price 614 00:31:50,880 --> 00:31:53,800 Speaker 1: down a little bit, so they could accumulate cheap. So 615 00:31:54,080 --> 00:31:57,120 Speaker 1: that's one possible scenario. Again, we don't know. We don't 616 00:31:57,120 --> 00:31:58,880 Speaker 1: know this because no one's come out and publicly accept this. 617 00:31:58,960 --> 00:32:01,720 Speaker 1: But it is is she that they've made this announcement 618 00:32:02,160 --> 00:32:04,520 Speaker 1: and they started buying before. Of course they would, they 619 00:32:04,520 --> 00:32:07,120 Speaker 1: don't buy after because after they announced it, the price 620 00:32:07,160 --> 00:32:10,160 Speaker 1: went up right, so they bought it before they announced it. 621 00:32:10,640 --> 00:32:13,160 Speaker 1: Another one that I saw suggested that maybe it's it's 622 00:32:13,280 --> 00:32:18,160 Speaker 1: robin Hood. So someone on Twitter said that the unown 623 00:32:18,160 --> 00:32:21,960 Speaker 1: address accumulated, you know, three billion worth of bitcoin belongs 624 00:32:22,000 --> 00:32:26,160 Speaker 1: to robin Hood markets. Now this is from Arkham Intelligence 625 00:32:26,360 --> 00:32:29,280 Speaker 1: said this, and again we don't know, this is just speculation, 626 00:32:29,400 --> 00:32:33,120 Speaker 1: but also Robinhood is a big player, but said they're 627 00:32:33,160 --> 00:32:36,160 Speaker 1: doing it. In August, we saw Glass Notte analysts estimated 628 00:32:36,200 --> 00:32:39,640 Speaker 1: that about ninety percent of short term bitcoin holders were 629 00:32:39,680 --> 00:32:42,560 Speaker 1: at a loss. And so a lot of that means 630 00:32:42,600 --> 00:32:44,760 Speaker 1: that the you know a scenario would be going forward 631 00:32:44,840 --> 00:32:48,000 Speaker 1: is continued selling by these short term bitcoin holders, whose 632 00:32:48,240 --> 00:32:52,480 Speaker 1: holding is currently total two point two six million. So 633 00:32:53,280 --> 00:32:58,480 Speaker 1: markets are very efficient at moving capital from inpatient to 634 00:32:58,680 --> 00:33:01,680 Speaker 1: the patient. So the short term buyers and sellers are 635 00:33:01,800 --> 00:33:04,040 Speaker 1: very impatient. They're the traders. They want to buy sale, 636 00:33:04,040 --> 00:33:06,200 Speaker 1: buy sale, buy sale, buy sale. They're very impatient. They're 637 00:33:06,200 --> 00:33:08,320 Speaker 1: just trying to make alpha, right, trying to make profit 638 00:33:08,360 --> 00:33:13,280 Speaker 1: every day. The patient are the black rocks. The patient 639 00:33:13,480 --> 00:33:16,440 Speaker 1: are the Michael Sailors. The patient are the ones that 640 00:33:16,520 --> 00:33:19,200 Speaker 1: will wait. As Charlie Munger says, the big money's not 641 00:33:19,200 --> 00:33:20,560 Speaker 1: made in the buy and selling. The big money's made 642 00:33:20,600 --> 00:33:24,040 Speaker 1: in the waiting. The patient will wait for the right 643 00:33:24,080 --> 00:33:28,000 Speaker 1: opportunity to pop up, and then they'll wait for it 644 00:33:28,080 --> 00:33:31,080 Speaker 1: to turn into something else. So if we have these 645 00:33:31,120 --> 00:33:33,720 Speaker 1: short term sellers, they think short term, they don't think 646 00:33:33,760 --> 00:33:38,239 Speaker 1: long term, and they hold two point twenty six million bitcoin. Now, 647 00:33:38,440 --> 00:33:40,320 Speaker 1: as the price of bitcoin was coming down, as I 648 00:33:40,360 --> 00:33:41,880 Speaker 1: told you, it was down about ten to twelve percent 649 00:33:42,000 --> 00:33:45,480 Speaker 1: in the last week or so. As that came down, 650 00:33:45,880 --> 00:33:49,320 Speaker 1: we saw a cascading effect of liquidations. So what happens. 651 00:33:49,360 --> 00:33:51,480 Speaker 1: You have traders betting on the price of bitcoin, whether 652 00:33:51,480 --> 00:33:53,360 Speaker 1: it's going to go a long or short and as 653 00:33:53,480 --> 00:33:55,720 Speaker 1: the price comes down, they start getting liquidated. Most of 654 00:33:55,760 --> 00:33:58,280 Speaker 1: them are trading with leverage, so they get liquidated and 655 00:33:59,080 --> 00:34:03,600 Speaker 1: all of this bitcoin becomes readily available, two point twenty 656 00:34:03,640 --> 00:34:06,160 Speaker 1: six million of it in the short short term sellar. 657 00:34:06,240 --> 00:34:08,480 Speaker 1: So in this type of event where all this liquidity 658 00:34:08,480 --> 00:34:12,960 Speaker 1: comes available, you have a buyer like potentially Robinhood, potentially 659 00:34:13,040 --> 00:34:15,400 Speaker 1: black Rock, we don't know, come in and just scoop 660 00:34:15,480 --> 00:34:19,600 Speaker 1: it up three point four I'm sorry, three billion dollars 661 00:34:19,680 --> 00:34:23,600 Speaker 1: worth one hundred and eighteen thousand bitcoin. Now, what's important 662 00:34:23,640 --> 00:34:27,200 Speaker 1: to understand about this is look through the news headlines 663 00:34:27,200 --> 00:34:30,560 Speaker 1: to understand what is going on. There is a very smart, 664 00:34:31,440 --> 00:34:35,799 Speaker 1: very sophisticated, very wealthy. I'm assuming they're smart and sophisticated 665 00:34:35,840 --> 00:34:37,839 Speaker 1: because they're so wealthy. If you have three billion dollars, 666 00:34:37,880 --> 00:34:42,239 Speaker 1: you probably know a couple things they're buying right now. 667 00:34:43,160 --> 00:34:45,840 Speaker 1: So if you are thinking, oh my gosh, should I 668 00:34:45,880 --> 00:34:47,960 Speaker 1: sell bitcoin right now? Is the price going to drop 669 00:34:48,000 --> 00:34:50,680 Speaker 1: down even more? I would ask yourself, are you smarter, 670 00:34:51,840 --> 00:34:56,279 Speaker 1: more connected, more sophisticated than someone who has access to 671 00:34:56,360 --> 00:34:59,279 Speaker 1: three billion to just drop a drop? Fat? Now, if 672 00:34:59,280 --> 00:35:03,480 Speaker 1: you're able to three billion into bitcoin, that must mean 673 00:35:03,560 --> 00:35:08,880 Speaker 1: that you have twenty billion or fifty billion, right, Like 674 00:35:09,040 --> 00:35:10,760 Speaker 1: how much of your portfolio gonna put in a bitcoin? 675 00:35:10,960 --> 00:35:12,680 Speaker 1: So it's not like they put every penny they had. 676 00:35:13,320 --> 00:35:15,319 Speaker 1: They put a fraction of what they have. So if 677 00:35:15,360 --> 00:35:17,919 Speaker 1: they're able to just drop three billion, they're very sophisticated, 678 00:35:18,040 --> 00:35:20,279 Speaker 1: they're very connected. So then you ask yourself, why are 679 00:35:20,440 --> 00:35:23,120 Speaker 1: they buying? We call that the smart money. You and 680 00:35:23,200 --> 00:35:25,600 Speaker 1: I were the dumb money. So if the smart money 681 00:35:25,719 --> 00:35:28,160 Speaker 1: is buying right now at this price, who the heck 682 00:35:28,280 --> 00:35:31,279 Speaker 1: is selling? And then a better question is why would 683 00:35:31,280 --> 00:35:34,399 Speaker 1: I want to sell? And the answer is ain't. I ain't. 684 00:35:34,800 --> 00:35:38,360 Speaker 1: I ain't. Now. Also, there's a speculation that was Elon 685 00:35:38,480 --> 00:35:41,960 Speaker 1: Musk and SpaceX selling their bitcoin. We saw news about 686 00:35:42,040 --> 00:35:45,600 Speaker 1: this about three hundred and seventy three million. They had 687 00:35:45,640 --> 00:35:47,839 Speaker 1: about three and seventy three million in twenty twenty two, 688 00:35:48,680 --> 00:35:51,160 Speaker 1: and news kind of came out that they sold all 689 00:35:51,280 --> 00:35:53,400 Speaker 1: of it. I haven't been able to back that up 690 00:35:53,440 --> 00:35:56,560 Speaker 1: with any substantial information. What we do know is that 691 00:35:57,880 --> 00:35:59,719 Speaker 1: they did sell some of their bitcoin it owned in 692 00:35:59,719 --> 00:36:03,839 Speaker 1: two twenty two, so we do know that. What it said, 693 00:36:03,880 --> 00:36:05,520 Speaker 1: and it was a little bit cryptic, what they put 694 00:36:05,560 --> 00:36:08,719 Speaker 1: out is that they were writing down the valuation of it. 695 00:36:09,040 --> 00:36:11,279 Speaker 1: So does that mean that they sold it and they 696 00:36:11,360 --> 00:36:14,760 Speaker 1: wrote they wrote down their portfolio or is it because 697 00:36:15,280 --> 00:36:17,279 Speaker 1: it's gone down from the price they bought it at 698 00:36:17,360 --> 00:36:18,960 Speaker 1: So they've lost a lot of money and they're writing 699 00:36:19,040 --> 00:36:22,400 Speaker 1: that valuation down. We don't really know, and so we 700 00:36:22,440 --> 00:36:25,160 Speaker 1: don't want to move off of that. All right, Don't 701 00:36:25,200 --> 00:36:27,600 Speaker 1: look and go, oh my gosh, look at Elon Musk. 702 00:36:27,600 --> 00:36:29,320 Speaker 1: He's the smartest guy in the world. He's selling his bitcoin. 703 00:36:29,400 --> 00:36:31,759 Speaker 1: I should sell too. Don't look at that, because that's 704 00:36:31,760 --> 00:36:34,879 Speaker 1: not actually what the data says, so it's a little 705 00:36:34,880 --> 00:36:37,560 Speaker 1: bit unclear. They're marking it down. What does exactly that mean? 706 00:36:37,600 --> 00:36:40,120 Speaker 1: Did they sell it all? We don't know. But what 707 00:36:40,280 --> 00:36:42,680 Speaker 1: I'm more interested in is who the heck is buying 708 00:36:42,760 --> 00:36:45,320 Speaker 1: three billion dollars worth a bitcoin and more specifically, what 709 00:36:45,520 --> 00:36:47,239 Speaker 1: does that mean for you? And I let me know 710 00:36:47,280 --> 00:36:49,560 Speaker 1: on social media? Hit me up if you missed any 711 00:36:49,560 --> 00:36:51,000 Speaker 1: of this, check it out on the podcast just search 712 00:36:51,080 --> 00:36:52,759 Speaker 1: the Mark Mas Show and your favorite podcast player, and 713 00:36:52,880 --> 00:36:55,400 Speaker 1: I would just ask one small favor please, if you 714 00:36:55,440 --> 00:36:58,120 Speaker 1: would just like and review this show on your favorite 715 00:36:58,120 --> 00:37:00,440 Speaker 1: podcast player. That would mean the world to me. Appreciate that. 716 00:37:01,480 --> 00:37:04,200 Speaker 1: Check me out on YouTube at Market Disruptors if you 717 00:37:04,239 --> 00:37:05,680 Speaker 1: want to watch me listening to me at the same time. 718 00:37:05,800 --> 00:37:08,320 Speaker 1: And that's what we got today. Thanks so much for listening.