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Speaker 1: Hello, and welcome to another episode of the Mark Moa

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Speaker 1: show where we talk about the decentralized revolution. Of course,

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Speaker 1: each end, every week we're talking about the way the

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Speaker 1: world is changing. And if you don't realize that, I

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Speaker 1: don't know what you're paying attention to, the world we're

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Speaker 1: going into is not the same as the world we

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Speaker 1: are leaving behind. And of course we look at it

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Speaker 1: through the lens of politics, finance, and technology. I've tried

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Speaker 1: to find the convergence of those three things to find

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Speaker 1: the signal in the noise. Of course, we look at

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Speaker 1: the technology being bitcoin, the decentralized technology, this cryptocurrency movement

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Speaker 1: is changing the world, and so we take a look

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Speaker 1: at that. And really, have you ever heard the saying

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Speaker 1: that money makes the world go round? I'm sure you have,

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Speaker 1: And that's exactly what it really is. It's all about

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Speaker 1: the money. Uh. If you watch any of these murder

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Speaker 1: mysteries on TV, these crime series will always be like

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Speaker 1: follow the money, right or you want to follow like

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Speaker 1: who has motive or incentive? And typically incentives are driven

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Speaker 1: by economics buy money, and so really it's always the

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Speaker 1: money that makes the world around, which is why I

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Speaker 1: like to look at the intersection of the finance and

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Speaker 1: then how the political uh political system works to kind

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Speaker 1: of manage or manipulate or control the financial system. And

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Speaker 1: but then this technology is changing them. And so one

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Speaker 1: of the things that I like to track is the

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Speaker 1: changing of the monetary system and how that changes. And

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Speaker 1: as the monetary system changes, than the political system changes.

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Speaker 1: Now what changes the monetary system. There's lots of different

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Speaker 1: things that can change it. Um So for example, in Zimbabwe,

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Speaker 1: they've changed their monetary system multiple times because they continue

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Speaker 1: to mismanage it, they continue to manipulate it. So in Zimbabwe,

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Speaker 1: they've ruined their currency I think five times in the

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Speaker 1: last dozen or so years, and it's because they create

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Speaker 1: too much of it. Inflation. Inflation is increasing the money supply.

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Speaker 1: So they start out with the Zimbabwe dollar pegged one

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Speaker 1: to one to the US dollar, but because print so

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Speaker 1: many of those Zimbabwe dollars that now it's two to one,

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Speaker 1: and then five to one to the US, and then

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Speaker 1: a hundred of one, and then five and then five

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Speaker 1: thousand and one, and then a quadrillion to one, until

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Speaker 1: everyone in the country is a billionaire and it's three

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Speaker 1: fifty billion just for one single egg and it goes

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Speaker 1: it's our spiry and out of control. It's gradually then suddenly,

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Speaker 1: so first it's one to one, then two to one,

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Speaker 1: then five to one, then ten to one, and it's

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Speaker 1: still not that bad. But then it's a thousand to one,

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Speaker 1: and then a million to one, and then a billion

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Speaker 1: to one, and then a quadrillion to one, and then

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Speaker 1: it's gone right. And so through that mismanagement, that monetary

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Speaker 1: system changed. And then of course Zimbabwe tries again and

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Speaker 1: they pack again to the dollar one to one, and

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Speaker 1: then it's a quadrillion to one again, and they try

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Speaker 1: again and they fail again, and then they say, okay,

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Speaker 1: we just won't have a monetary system, we'll just use

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Speaker 1: the dollar um. But then after a couple of years,

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Speaker 1: why don't we give it a try again. They try

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Speaker 1: it again, and now they're they went back to one

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Speaker 1: to one with the dollar, and now they're at like

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Speaker 1: five to one to the dollar. So they just can't

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Speaker 1: seem to learn their lessons. A lot of times it's

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Speaker 1: done through mismanagement, through manipulation, through fraud, or whatever it

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Speaker 1: may be. I think most things, maybe this is my

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Speaker 1: own well, it certainly is my own internal bias. I

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Speaker 1: just believe most people are good, So I think, you know,

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Speaker 1: they probably had good intentions. They need a little bit

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Speaker 1: more money for whatever social program that maybe hey we

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Speaker 1: need to feed the poor, right, or hey, we have

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Speaker 1: this emergency we have to take care of, so let's

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Speaker 1: just print a little bit more currency. We didn't do it.

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Speaker 1: We didn't do it out of bad reason. We didn't

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Speaker 1: have a good reason. Let's help the poor, and everybody's

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Speaker 1: for feeding the poor, right. But by creating more money,

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Speaker 1: you set this whole chain of events off. And so

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Speaker 1: anyway that's what happens. There's there's ways, but also other

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Speaker 1: ways that can change. Of course, maybe it starts with

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Speaker 1: good intentions, then it goes into fraud, where now it's like, well,

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Speaker 1: if I print a bunch more money and give it

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Speaker 1: to these types of programs, um, like we're gonna build

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Speaker 1: these schools. But through building these schools, I can put

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Speaker 1: a bunch of that money in my pocket. I can

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Speaker 1: give it to all my buddies who are in the

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Speaker 1: construction industry. Uh, then it starts going into fraud, and

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Speaker 1: of course that's kind of where we're at with the

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Speaker 1: entire global system. But another way that it changes is

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Speaker 1: through uh political situations. So for example, UM, since most

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Speaker 1: of the world agreed to be on a dollar standard

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Speaker 1: reserve standard of the world, and most of it's been

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Speaker 1: that way. Now a lot of people in the world

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Speaker 1: don't want to be on the dollar standard anymore, like Russia,

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Speaker 1: for example, like China, and so that could change the

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Speaker 1: monetary system, which I want to talk about. And then

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Speaker 1: there's technology. So money, money's communication. Money communicates value. Money

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Speaker 1: allows me to get the goods and services that I want,

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Speaker 1: and I use money as that medium of exchange to

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Speaker 1: get me that. UM and we haven't really seen any

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Speaker 1: technological upgrades to money. So we see that the way

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Speaker 1: that we get music has changed. I used to need

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Speaker 1: a hundred person orchestra to listen to Beethoven, and then

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Speaker 1: I could get it in a record, and then in

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Speaker 1: a track and then a cassette CD and now it's

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Speaker 1: just streaming. And so so technology changed the way that

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Speaker 1: we get music. And now it's just streaming and I

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Speaker 1: don't even own CDs anymore, it's just streams off my phone.

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Speaker 1: And it changed books, right, We used to have west

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Speaker 1: to have to go to a library, and now I

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Speaker 1: get any book I want almost probably for free, most

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Speaker 1: of them just online um movies, et cetera. But what

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Speaker 1: about the money. The money hasn't changed. As a matter

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Speaker 1: of fact, our credit card system that we still use today,

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Speaker 1: our debit card, a c H credit card UH system

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Speaker 1: I believe was created about a hundred years ago, right,

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Speaker 1: I think Diner's card was the very first credit card.

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Speaker 1: And it's very archaic. It's very kick When you go

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Speaker 1: to the store and you give them your credit card

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Speaker 1: or your debit card, it literally makes a phone call, right,

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Speaker 1: It makes that noise and it and it has to

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Speaker 1: connect and then has to connect with that one bank

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Speaker 1: and has to another bank and does this person have

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Speaker 1: an account and is there money? And it takes all

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Speaker 1: this time and so then maybe it's I don't know,

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Speaker 1: thirty or forty five seconds while you're standing there at

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Speaker 1: the counter. But then that merchant doesn't typically get the

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Speaker 1: money for then it batches at the end of the day.

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Speaker 1: So at the end of the day, then that whole

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Speaker 1: bat that all the transactions for the day to get batched,

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Speaker 1: and then they run it and they could take three

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Speaker 1: to five days for the merchant to actually get that money.

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Speaker 1: So three to five days for debit cards, credit cards,

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Speaker 1: everyone's a visa so fast that systems a hundred years

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Speaker 1: old and hasn't been upgraded. UM, So technology can change

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Speaker 1: mon terary systems. Let's talk about a couple of those things.

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Speaker 1: So UM the dollar. The dollar has been the reserve

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Speaker 1: currency of the world four Bretton Woods Agreement. Everyone agreed

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Speaker 1: to use the dollar, UM, but things change, like the

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Speaker 1: Zimbabwe situation I gave. So if you look at the dollar,

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Speaker 1: what happened well nineteen thirteen the creation of the Fellow

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Speaker 1: Reserve and the Fellow Reserve UM started creating paper claims

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Speaker 1: to gold. But the problem was that by nineteen thirteen

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Speaker 1: and nineteen eighteen and nine and nineteen and nineteen thirty,

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Speaker 1: they printed way too many of these paper gold claims

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Speaker 1: and there wasn't enough gold to back it up. Now

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Speaker 1: time all the goal was in the banks. Because gold

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Speaker 1: is too big and heavy and clunky to move around.

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Speaker 1: It's much easier to use these paper goals certificates. And

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Speaker 1: by ninety three they said, shoot, we owe a bunch

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Speaker 1: of gold, but we don't have gold, and we can't

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Speaker 1: just create gold from thin air. So let's just take

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Speaker 1: it from everybody and we'll just seize the goal. At

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Speaker 1: sixty one O two Executive Order six two, nineteen thirty three,

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Speaker 1: the US government seized everybody's gold. Then they recapitalized everything.

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Speaker 1: Then they started printing too many goals certificates four put

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Speaker 1: the whole world on this gold system. Um by, I'm sorry.

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Speaker 1: By nineteen seventy one, they had again printed way too

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Speaker 1: many of these paper cal stificates. Sounds sort of like Zimbabwe,

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Speaker 1: doesn't it. They created way too of these paper cal stificates,

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Speaker 1: and all these countries like France sent their worships over

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Speaker 1: and said, we don't want these paper goalsertificates. Give us

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Speaker 1: the gold. And President Richard Nixon said, nope, you're not

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Speaker 1: getting the gold anymore. We're season year goals. So nineteen

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Speaker 1: thirty three they took the American people's gold. Nineteen seventy

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Speaker 1: one they took the world's gold because they printed too

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Speaker 1: much money, too many paper clalstits. Just like Zimbabwe. It's

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Speaker 1: not'n familiar. All right, now here we are the dollars

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Speaker 1: still the reserve currency of the world. But fast forwarding

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Speaker 1: something I've been talking about all the time, the decentralized revolution.

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Speaker 1: The world is decentralizing. So the world has been on

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Speaker 1: a path of centralization, of centralizing, and so you know

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Speaker 1: the U n head and nail things up in the

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Speaker 1: world that coming form, and the World Health Organization right,

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Speaker 1: and the I M F right and all of these

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Speaker 1: treaties NATO right, and so the whole world has been

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Speaker 1: kind of working together globally and we have this global

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Speaker 1: reserve currency. But that's all changing now. The world is decentralizing. Now.

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Speaker 1: The world is moving into this protectionist era where it's

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Speaker 1: almost every nation out for themselves. And when every nation

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Speaker 1: starts looking out for themselves and to start thinking about

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Speaker 1: their own resources, what resource do I have after protect

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Speaker 1: my resources to protect my security, and I need to

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Speaker 1: protect my money because my money is what gives me

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Speaker 1: the security and allows me to get the resources. And

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Speaker 1: if we're just all on the dollar standard, I don't

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Speaker 1: have any control there. And Russia found out the hard way,

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Speaker 1: one of three global superpowers with nuclear weapons. They had

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Speaker 1: their bank accounts frozen, just like the truckers in Canada

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Speaker 1: got their bankcount frozen, just like you get your ban

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Speaker 1: account frozen. They got their ban account frozen. Over six

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Speaker 1: hundred million dollars in uh FX reserves were seized. If

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Speaker 1: you're just tuning in, you're listening to the Mark Moa Show.

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Speaker 1: We're talking about the decentralized revolution, the way the money

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Speaker 1: system is changing. I got a lot more to cover

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Speaker 1: when I come back. Don't go away, We'll be right back,

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Speaker 1: all right. If you're just tuning in, you're listening to

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Speaker 1: the markma Show, we're talking about the way the monetary

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Speaker 1: system is changing and how the whole world is changing

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Speaker 1: because of that. And I was kind of walking you

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Speaker 1: through the history of the monetary system a little bit.

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Speaker 1: If you missed any of that, don't worry. I got

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Speaker 1: your back. You can check me out on the podcast.

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Speaker 1: Just go to your favorite podcast players your search Mark

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Speaker 1: Moss or on YouTube on the Market Disruptors YouTube channel.

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Speaker 1: You can find me there as well, and you can

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Speaker 1: watch me and listen to me there if you missed

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Speaker 1: any of this. Okay, So moving forward. UM, now we

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Speaker 1: have the situation and where the world is breaking apart.

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Speaker 1: We're in a decentralized revolution, which want to talk about

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Speaker 1: every week, and now each of these nations are kind

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Speaker 1: of moving out on their own. Um. They realize that

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Speaker 1: the United States and the dollar payment system. I should

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Speaker 1: say the dollar payment network. More than anything. The dollar

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Speaker 1: is a payment network. It's a way to move money

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Speaker 1: around the world almost instantaneously, and it works pretty good.

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Speaker 1: It's archaic, but you know, it still works pretty good,

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Speaker 1: especially for the US government. But if you're on the

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Speaker 1: wrong end of that, like Russia, for example, then you

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Speaker 1: get sanctions and you get your bank accounts seized and frozen.

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Speaker 1: And if you're not a top three global superpower with

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Speaker 1: nuclear weapons, what chance do you have? And the answer

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Speaker 1: is none. And so the world is starting to break apart.

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Speaker 1: And we saw this week that Russia claims the claims

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Speaker 1: Bank of China in talks to challenge the US reserve

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Speaker 1: currency status. That's a big news, big big news this week.

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Speaker 1: And we can see that Russian Russian officials want China

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Speaker 1: help in developing an international payment system that would allow

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Speaker 1: Moscow and Basing to undermine the global primacy of the

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Speaker 1: US dollar. Russian Deputy Prime Minister alex Alexander Novak said

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Speaker 1: such work makes it possible to prevent risks and promote

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Speaker 1: the transition of the rouble and Yu want into the

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Speaker 1: status of world reserve currencies in quote, and so what

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Speaker 1: he's saying, is it makes it possible to prevent risks?

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Speaker 1: What risks? What risks are they using the dollar system? Oh? Oh,

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Speaker 1: the one where they sees all your money? That risk?

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Speaker 1: Oh the other risk where you're not allowed to join

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Speaker 1: it or you get kicked out of it. So any

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Speaker 1: any country that gets sanctioned, like Iran for example, And

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Speaker 1: I'm not saying they're a good country, and I'm not

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Speaker 1: saying that they deserve don't deserve to be sanctioned. That's

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Speaker 1: a different topic for a whole different day. My point

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Speaker 1: is is what risk is he talking about makes it

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Speaker 1: possible to prevent risk? What risks? The risk of one

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Speaker 1: not being able to freely trade with other countries or

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Speaker 1: two being you know, by not being allowed to use

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Speaker 1: it or being kicked out of it, or to having

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Speaker 1: your money taken. That's a big that's a big risk,

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Speaker 1: wouldn't you agree? And so of course, if Russia doesn't

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Speaker 1: stand a chance, then no other country stands a chance.

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Speaker 1: And so China sits back and watches the story and go, shoot,

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Speaker 1: we didn't really think about that. Like man, if Russia

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Speaker 1: takes Ukraine and the the world just moves to shut

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Speaker 1: them out of the banking system and take their money.

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Speaker 1: What happens if China over here we want to go

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Speaker 1: take Taiwan, what could happen? Well, we better start, I

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Speaker 1: like to say all the time in business, UM, dig

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Speaker 1: your well before you're thirsty. Don't wait until you're thirsty.

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Speaker 1: Start digging before you're thirsty. Um. And so maybe China

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Speaker 1: is like, well, shoot, we should probably build up another

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Speaker 1: system before it's our turn to get kicked out like Russia.

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Speaker 1: Like what happened to Russia? And that's exactly what it

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Speaker 1: looks like it's happening to here. It says that they're aligned.

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Speaker 1: They're aligned in their mutual ambition to degrade Western power. Um.

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Speaker 1: In this regard, the Central Bank of Russia and the

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Speaker 1: Bank of China are working on the possibility of opening

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Speaker 1: accounts for Russian companies in China Chinese companies in Russia

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Speaker 1: and create a payment system without using Swift. Novac said, So,

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Speaker 1: Swift is the monetary system that moves money around the world,

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Speaker 1: and so they want to create an alternative to that.

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Speaker 1: And of course Russia is kind of I don't know

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Speaker 1: if I want to say, leading the charge in these

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Speaker 1: bricks nations. So it's Brazil Russia, India, China, South America.

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Speaker 1: Of course, now we're seeing Argentina, We're seeing now even

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Speaker 1: Saudi Arabia saying they want to join the bricks, which

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Speaker 1: make up about sixty of the people in the world.

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Speaker 1: So if they set up with this other system, it

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Speaker 1: makes sense that six of the world could move on

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Speaker 1: to that system. It says. Dozens of foreigns financial institutions

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Speaker 1: joined Moscow's alternative payment system this year year a Russian

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Speaker 1: central bank set in September, but the number is still

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Speaker 1: dwarfed by the thousands entities that rely on swift. So

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Speaker 1: dozens have jumped onto the new alternative that Moscow that

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Speaker 1: Russia has already set up. But dozens dozens is small

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Speaker 1: compared to thousands, obviously, it says here quote, the US

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Speaker 1: needs to mend its ways, stop politicizing and weaponizing economic

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Speaker 1: trade and side tech issues, and provide a fair, just

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Speaker 1: and non discriminatory business environment for foreign companies, including for

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Speaker 1: those in China, said China and Foreign Minister spokesman Zhao Lejion.

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Speaker 1: So this is this is a problem and is not

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Speaker 1: a It's not an easy problem to dissect, and we

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Speaker 1: could spend a lot of a lot of time talking

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Speaker 1: about this, but basically you have problems, potential problems like terrorism.

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Speaker 1: Right if a nation is hostile top to the United States,

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Speaker 1: should we allow them to have that money that makes

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Speaker 1: them more hostile? These are these are very tricky issues.

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Speaker 1: There's no good answers for this. But money should be

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Speaker 1: a tool, and so tools can be used for good

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Speaker 1: and bad, and money should be a tool and it

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Speaker 1: should not be political. Now, I guess if you control

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Speaker 1: the money, then you want to control some of the

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Speaker 1: interests of that. And that's exactly the situation the US

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Speaker 1: is in. The problem is as the United States continues

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Speaker 1: to get more as they can do to weaponize as

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Speaker 1: a dollar more, they're just going to have more and

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Speaker 1: more people wanting to go move to a different system.

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Speaker 1: And so anyway, that's big, big development and we'll have

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Speaker 1: to see how that how that plays out. Now, we

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Speaker 1: can also see that the war against the dollar um

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Speaker 1: and the dollar payment network always know it as we

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Speaker 1: know it is not dying down. It's only continue to escalate.

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Speaker 1: On top of these additions, these new payment networks being

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Speaker 1: set up. So again they want to replace Swift, which

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Speaker 1: is old technology, but they're probably gonna set up with

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Speaker 1: another old technology. Remember technology is also what changes things,

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Speaker 1: and so we have that, and so we have the

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Speaker 1: era of the CBDC or the central bank digital currencies

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Speaker 1: there that are coming out and that is a payment upgrade,

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Speaker 1: and we can see that's happening. We see India is

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Speaker 1: rolling out their retail pilot program for a digital roupie,

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Speaker 1: so that's big. Now we already talked about the Federal

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Speaker 1: Reserve wants to launch a twelve week pilot program UM

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Speaker 1: in partnership with a bunch of other commercial banks to

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Speaker 1: test out their own CBDC here in the United States.

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Speaker 1: But the US isn't alone, right, Almost every country is

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Speaker 1: working on a digital currency. India is working on developing

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Speaker 1: a digital rupee and recently announced the second phase of

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Speaker 1: its testing, so they're already going. They've already run a

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Speaker 1: successful pilot test program UM at the wholesale level, sort

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Speaker 1: of like what the Central Bank is doing at the

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Speaker 1: whole sale level like at the banks, and now the

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Speaker 1: Reserve Bank of India, the rb I announced it will

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Speaker 1: test the digital route digital route in a retail setting.

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Speaker 1: So the US is testing it with banks, which India

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Speaker 1: already did, and now India is going to roll it

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Speaker 1: out to retail. According to the RBI, the central bank

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Speaker 1: digital currency is a legal tender issue by a central bank.

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Speaker 1: In digital form, it's the same as fiat currency and

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Speaker 1: it's exchangeable one to one with the van currency, only

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Speaker 1: its form is different. It's digital. So what's happening. The

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Speaker 1: thing is is that as this happens, as people start

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Speaker 1: to change from one monetary system they've always known their

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Speaker 1: whole life into another, then it opens up their minds

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Speaker 1: to well, what other systems are out there? Right? Once

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Speaker 1: you realize there's a problem with one, well then you

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Speaker 1: start looking at all your available options for something new.

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Speaker 1: If you just tune it in, you're listening to the

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Speaker 1: markmas Show. We're talking about, of course, the decentralized revolution.

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Speaker 1: We're talking about the way the monetary system is changing

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Speaker 1: right before our very eyes. It's not just happening in Russia, China,

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Speaker 1: It's also happening in Europe. I've got a lot more

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Speaker 1: to cover. Whant to come back? You don't want to

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Speaker 1: miss it, don't go away, I'll be right back, all right,

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Speaker 1: Welcome back. If you just tune in, you're listening to

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Speaker 1: the Mark Moa Show. We're talking about the the decentralized revolution.

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Speaker 1: We're talking about the way the world is breaking apart,

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Speaker 1: and it's really being breaking apart by the monetary system

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Speaker 1: is breaking apart. The dollar homogeney, the dollar world reserve

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Speaker 1: status is being challenged, lots of challengers. Like I said,

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Speaker 1: when one system that you've always known your whole life,

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Speaker 1: and maybe you've never even thought about it, when it

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Speaker 1: starts to change and you're looking for something new, but

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Speaker 1: then you go look at all your options. You've been

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Speaker 1: driving the same car for five years or ten years,

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Speaker 1: or however long you've been driving your car for. But

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Speaker 1: when you decide that you want to look at a

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Speaker 1: new car, well, you're gonna go look at all your options.

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Speaker 1: So if I'm gonna leave one financial system that I'm

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Speaker 1: in now, one thing that I've always known to be money,

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Speaker 1: and now money is going to be something different than

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Speaker 1: I want to look at all my options for that now,

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Speaker 1: it says here. Digital currencies are similar to bitcoin and

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Speaker 1: other cryptocurrencies. They exist as virtual banknotes or coins held

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Speaker 1: in a digital wall. It The difference between a government

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Speaker 1: digital currency and bitcoin is the value of the digital

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Speaker 1: currency is backed or is controlled by the state, so

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Speaker 1: it's just like any fiat currency, so as the rb I,

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Speaker 1: the Reserve Bank of India put it according to them,

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Speaker 1: Unlike cryptocurrencies, a CBDC isn't a commodity or claims on

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Speaker 1: commodities or digital assets. Cryptocurrencies have no issuer. They are

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Speaker 1: not money, certainly not currency as the world has come

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Speaker 1: to be understood historically. I have a little bit of

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Speaker 1: pushback on that statement. Now, um, they are not money

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Speaker 1: as the world as the word has come to be

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Speaker 1: understood historically. So what is money and what has it

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Speaker 1: been um understood historically? I think most people think about

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Speaker 1: money as you know, the dollars in there in there

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Speaker 1: either their wallets they carry around or most people digital

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Speaker 1: so the money the digits you see in your bank account.

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Speaker 1: So money is typically being used as a medi of

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Speaker 1: exchange to buy and sell goods. Right, if you want food,

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Speaker 1: or you want an occasion, or you want something else,

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Speaker 1: you're going to use your money in order to get that.

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Speaker 1: Medium of exchange is simple and so in in regards

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Speaker 1: to that, lots of things can be meaning of exchange.

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Speaker 1: So I might exchange my labor might be one thing

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Speaker 1: that I might exchange. Right, Um, so I think. I

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Speaker 1: think as as the words been understood historically money being

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Speaker 1: a medium exchange. Now it says the first part said

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Speaker 1: that UM a CBDC isn't a commodity or claims on commodities,

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Speaker 1: So gold is considered a commodity. What's the difference, Well,

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Speaker 1: commodity and and all money up until the Fiat era

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Speaker 1: that we started fifty years ago has been commodity money.

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Speaker 1: So commodity is basically typically it's been historically been something

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Speaker 1: that comes from the ground UM that anybody could get

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Speaker 1: anywhere in the world and would be fungible. So UM,

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Speaker 1: I can get a piece of land and I can

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Speaker 1: mine for gold UM in California or Mexico or China. UM.

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Speaker 1: Anyone can go get the land and can get dig

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Speaker 1: for the gold. And no matter if I get it

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Speaker 1: from China or or Mexico or California, it's still gold.

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Speaker 1: Gold's gold. Same with oil. I can go drill for oil,

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Speaker 1: and California can go drill for gold, and Saudi Arabia

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Speaker 1: can go drill for gold in in in UM, I

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Speaker 1: don't know Venezuela. UM. Whoever gets the land, they can

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Speaker 1: drive for the goal or for the oil. If they

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Speaker 1: get the oil. It's fungible oils oil right, wheat, I

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Speaker 1: can grow wheat, same thing. And so gold has been

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Speaker 1: a commodity. Now, all money has been commodities. So lots

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Speaker 1: of things have been money throughout history. So rocks and

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Speaker 1: feathers and seashells, et cetera, and those are commodities. Those

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Speaker 1: are natural, right, we can go collect them. Um, there's

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Speaker 1: no central issuer. Nobody creates oil, nobody creates seashells, right, nature,

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Speaker 1: that's natural. Um, So those are commodities. And so all

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Speaker 1: of all of history has been commodities are money. Fiat.

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Speaker 1: We started the fiat system about fifty years ago, and

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Speaker 1: there's no commodity. They just create this paper closertificate and

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Speaker 1: they just say it's money because it's money. So it's

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Speaker 1: the first money that we've had. So it says here,

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Speaker 1: unlike cryptocurrencies, is CBDC isn't a commodity or claims on commodities. Um, yeah,

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Speaker 1: it's fiat currency. It says here, cryptocurrencies have no issuer,

428
00:22:24,440 --> 00:22:29,919
Speaker 1: they are not money. Well, out of the approximately twenty

429
00:22:29,960 --> 00:22:35,560
Speaker 1: two thousand cryptocurrencies of the two and I believe nine

430
00:22:36,600 --> 00:22:39,240
Speaker 1: five of them have had an issuer. So it's a

431
00:22:39,240 --> 00:22:42,200
Speaker 1: company like Ethereum and a group of guys like Metalic

432
00:22:42,280 --> 00:22:45,080
Speaker 1: Breeder and get together form their theorum found Asian. Uh.

433
00:22:45,119 --> 00:22:47,760
Speaker 1: They create this software and they create a bunch of token,

434
00:22:47,880 --> 00:22:50,360
Speaker 1: seventy of them, and then they start selling them off.

435
00:22:50,560 --> 00:22:54,520
Speaker 1: So Ethereum did have an issuer, and Cardano did have

436
00:22:54,640 --> 00:22:59,000
Speaker 1: an issuer, and x y z cryptocurrency BnB token had

437
00:22:59,040 --> 00:23:01,280
Speaker 1: an issuer. So, uh, it's a little bit wrong there.

438
00:23:01,320 --> 00:23:04,200
Speaker 1: The RBI doesn't quite understand that UM cryptocurrencies, do you

439
00:23:04,200 --> 00:23:06,800
Speaker 1: have an issue? Now? Bitcoin doesn't have an issue? Or

440
00:23:06,840 --> 00:23:10,600
Speaker 1: bitcoin is like a commodity, meaning there is no issue.

441
00:23:11,160 --> 00:23:12,960
Speaker 1: There was a piece of software that was created and

442
00:23:13,040 --> 00:23:15,439
Speaker 1: anybody anywhere in the world can get a computer connect

443
00:23:15,440 --> 00:23:18,040
Speaker 1: to the bitcoin network and couldn't mind bitcoin. Anybody can

444
00:23:18,080 --> 00:23:19,760
Speaker 1: do it and no matter where you mind for the bitcoin.

445
00:23:20,480 --> 00:23:22,960
Speaker 1: Just like gold anywhere in the world, one bitcoin is

446
00:23:22,960 --> 00:23:27,640
Speaker 1: worth one bitcoin. It's fungible. So bitcoin it fits into

447
00:23:27,680 --> 00:23:32,160
Speaker 1: that UM. But the the part that they're saying here

448
00:23:32,440 --> 00:23:35,680
Speaker 1: that they're not money. Cryptocurrencies UM have no issue or

449
00:23:35,760 --> 00:23:39,879
Speaker 1: they're not money, are not currency, So what's the difference

450
00:23:39,880 --> 00:23:41,720
Speaker 1: of currency and money? A lot of people if you're

451
00:23:41,720 --> 00:23:45,040
Speaker 1: Mike Maloney fans, you love to hit on this point

452
00:23:45,200 --> 00:23:49,840
Speaker 1: right here. Dollars are not money their currency. Only gold

453
00:23:49,960 --> 00:23:52,800
Speaker 1: is money. JP Morgan's famous statement in front of Congress

454
00:23:52,880 --> 00:23:57,480
Speaker 1: is that gold is money, nothing else. And that's true.

455
00:23:57,640 --> 00:23:59,199
Speaker 1: Gold have been money for five thousand years. But if

456
00:23:59,200 --> 00:24:02,280
Speaker 1: you look at what he is, it has basically a

457
00:24:02,280 --> 00:24:04,800
Speaker 1: couple of attributes and won't be a store of value

458
00:24:04,840 --> 00:24:07,439
Speaker 1: to medium of exchange and three a unimit account, and

459
00:24:07,440 --> 00:24:09,400
Speaker 1: so store value I would I would park my wealth

460
00:24:09,400 --> 00:24:11,320
Speaker 1: there and tell I'm ready to use it to exchange

461
00:24:11,320 --> 00:24:13,600
Speaker 1: for other goods medium exchange, of course we've already talked

462
00:24:13,600 --> 00:24:15,520
Speaker 1: about that. And then finally the unit of account. How

463
00:24:15,520 --> 00:24:19,800
Speaker 1: do I measure the value of other things? Well, one

464
00:24:19,880 --> 00:24:25,440
Speaker 1: cow is worth thirteen chickens. One cow is worth you know, uh,

465
00:24:25,600 --> 00:24:29,560
Speaker 1: seven leaders of gasoline, um, you know. And it's really

466
00:24:29,600 --> 00:24:31,280
Speaker 1: hard to start trying to compare all these things against

467
00:24:31,280 --> 00:24:33,760
Speaker 1: other things. So we just used one medium exchange and

468
00:24:33,880 --> 00:24:36,960
Speaker 1: unim account. Call it dollars or whatever country and you

469
00:24:36,960 --> 00:24:41,360
Speaker 1: can fill in the blank there. But um money or

470
00:24:41,440 --> 00:24:44,520
Speaker 1: what we what we call money dollars, really they're more currency.

471
00:24:45,040 --> 00:24:46,840
Speaker 1: Currency is a really good medium exchange, but it's a

472
00:24:46,880 --> 00:24:51,719
Speaker 1: horrible store value and and so forth. So anyway, that's

473
00:24:51,760 --> 00:24:54,160
Speaker 1: a long story to say that the central bank digital

474
00:24:54,200 --> 00:24:58,840
Speaker 1: currencies are coming. They are not like other cryptocurrencies. Uh,

475
00:24:58,880 --> 00:25:02,879
Speaker 1: they're not UM certainly not like bitcoin, certainly not that

476
00:25:02,920 --> 00:25:06,240
Speaker 1: has been open and open source. Everyone can see it

477
00:25:06,280 --> 00:25:08,959
Speaker 1: and everyone has equal opportunity to mine it and use it,

478
00:25:09,000 --> 00:25:12,800
Speaker 1: et cetera. Now it says here that the National Payments

479
00:25:12,800 --> 00:25:14,280
Speaker 1: Corporation of Many It will host a platform for the

480
00:25:14,320 --> 00:25:18,080
Speaker 1: digital Rupee payment system. During the testing phase. They're gonna

481
00:25:18,080 --> 00:25:23,480
Speaker 1: give each commercial bank in the pilot h a rupee

482
00:25:23,560 --> 00:25:27,120
Speaker 1: enough for fifty users. So we'll see what happens now.

483
00:25:27,320 --> 00:25:29,719
Speaker 1: Of course they're trying another in other places. We know

484
00:25:29,800 --> 00:25:33,920
Speaker 1: in Africa, UM, they've been trying to use it, the

485
00:25:34,320 --> 00:25:36,600
Speaker 1: n r are they call it. Nobody wants to use it,

486
00:25:36,680 --> 00:25:40,359
Speaker 1: they say, why would I The regular and eras is horrible?

487
00:25:40,359 --> 00:25:42,399
Speaker 1: Why would I use the E version of it? You

488
00:25:42,480 --> 00:25:45,320
Speaker 1: haven't fixed any of the problems. The problems are because

489
00:25:45,320 --> 00:25:48,320
Speaker 1: you create too much of it. So just like you've

490
00:25:48,320 --> 00:25:50,159
Speaker 1: destroyed the regular and IRA, why would I use the

491
00:25:50,320 --> 00:25:54,359
Speaker 1: NAR because it's more convenient? It doesn't make any sense.

492
00:25:55,080 --> 00:25:57,440
Speaker 1: And I think that that's exactly what's gonna happen. People

493
00:25:57,440 --> 00:26:00,119
Speaker 1: are just gonna go, look, it's it's exact same thing.

494
00:26:00,720 --> 00:26:03,080
Speaker 1: I think it's going to push more people into bitcoin

495
00:26:03,200 --> 00:26:05,760
Speaker 1: because I think once people start using this kind of

496
00:26:05,800 --> 00:26:08,639
Speaker 1: digital token as money, it starts to kind of legitimize it.

497
00:26:08,840 --> 00:26:10,960
Speaker 1: They're gonna go, wait, wait a minute, why does this

498
00:26:11,160 --> 00:26:14,639
Speaker 1: uh you know, E roupie or n ira or E dollar,

499
00:26:15,200 --> 00:26:17,879
Speaker 1: Why does it continue to go down in value compared

500
00:26:17,920 --> 00:26:20,240
Speaker 1: to other goods and services? But this bitcoin over here,

501
00:26:20,320 --> 00:26:23,200
Speaker 1: whatever this bitcoin thing is, it continues to go up

502
00:26:23,560 --> 00:26:27,360
Speaker 1: in terms of goods and services. And now that I'm

503
00:26:27,440 --> 00:26:29,200
Speaker 1: using these token things, and I have all these different

504
00:26:29,200 --> 00:26:31,360
Speaker 1: options of all these different tokens, why wouldn't I use

505
00:26:31,440 --> 00:26:33,760
Speaker 1: the one that seems to go up in value more?

506
00:26:34,720 --> 00:26:36,920
Speaker 1: And why wouldn't I use the one that I can

507
00:26:36,960 --> 00:26:40,560
Speaker 1: control instead of having one like in China where they

508
00:26:40,680 --> 00:26:43,920
Speaker 1: just turn it on and off as they want. It

509
00:26:43,960 --> 00:26:46,160
Speaker 1: says China's goal is not to make payments more convenient,

510
00:26:46,160 --> 00:26:48,280
Speaker 1: but to replace cash so we can keep closer tabs

511
00:26:48,280 --> 00:26:52,080
Speaker 1: on people than it already does. Who wants that? And

512
00:26:52,160 --> 00:26:54,280
Speaker 1: so when you have when you're moving into this new

513
00:26:54,280 --> 00:26:57,600
Speaker 1: monetary system, and you can evaluate these different choices. I

514
00:26:57,600 --> 00:26:59,639
Speaker 1: think the answer is gonna be pretty clear here, and

515
00:26:59,680 --> 00:27:02,400
Speaker 1: I think the answer is you're gonna want to use Bitcoin,

516
00:27:02,640 --> 00:27:05,119
Speaker 1: not the C, B, d C or E currency or

517
00:27:05,160 --> 00:27:07,000
Speaker 1: whatever it's gonna be. If you're just tuning and you're

518
00:27:07,000 --> 00:27:09,199
Speaker 1: listening to the Mark Moss Show, we're talking about the

519
00:27:09,240 --> 00:27:12,080
Speaker 1: decentralized revolution, the way the world is breaking apart, the

520
00:27:12,080 --> 00:27:15,160
Speaker 1: way the money system is changing um and we're looking

521
00:27:15,200 --> 00:27:17,360
Speaker 1: at the signs of this. I got a lot more

522
00:27:17,440 --> 00:27:20,680
Speaker 1: news to go over this week, including what the ECB,

523
00:27:20,880 --> 00:27:23,960
Speaker 1: the European Central Bank, just said this week a pretty

524
00:27:23,960 --> 00:27:27,240
Speaker 1: big deal, and some big shake up in the cryptocurrency

525
00:27:27,280 --> 00:27:28,879
Speaker 1: market cap from coin based. I got a lot of

526
00:27:28,880 --> 00:27:30,359
Speaker 1: cover when I come back, don't go away, I'll be

527
00:27:30,440 --> 00:27:33,280
Speaker 1: right back, all right, Welcome back. You're listening to the

528
00:27:33,280 --> 00:27:36,440
Speaker 1: Mark mo Show. We're talking about the decentralized Revolution. We're

529
00:27:36,440 --> 00:27:38,679
Speaker 1: breaking down some of the news stories and showing you

530
00:27:38,720 --> 00:27:41,760
Speaker 1: how money as we know it around the world is

531
00:27:41,880 --> 00:27:44,960
Speaker 1: changing really, really really fast. Now. Some of the things

532
00:27:44,960 --> 00:27:46,879
Speaker 1: that are happening, of course, like when the United States

533
00:27:47,080 --> 00:27:49,879
Speaker 1: UH freezes Trucker's bank accounts or I'm sorry in the

534
00:27:49,920 --> 00:27:53,800
Speaker 1: United States, but in Canada froze Trucker's accounts, or when

535
00:27:53,880 --> 00:27:57,760
Speaker 1: the US deciety to freeze Russia's account Um, they're kicking

536
00:27:57,800 --> 00:28:00,000
Speaker 1: people out of the system. What I like to say

537
00:28:00,080 --> 00:28:05,399
Speaker 1: is that they're um doing Bitcoin's marketing for them. In

538
00:28:05,440 --> 00:28:08,280
Speaker 1: the United States specifically, a lot of people still want

539
00:28:08,320 --> 00:28:11,240
Speaker 1: to know, why do we need things like cryptocurrencies? It

540
00:28:11,280 --> 00:28:13,840
Speaker 1: makes no sense, Like our dollars work pretty good, and

541
00:28:13,880 --> 00:28:15,640
Speaker 1: I got PayPal, and I got Venmo and I got

542
00:28:15,640 --> 00:28:18,960
Speaker 1: cash appen, what do I need all that for now?

543
00:28:19,160 --> 00:28:21,720
Speaker 1: If you're one of three billion people in the world

544
00:28:21,720 --> 00:28:25,159
Speaker 1: that live under really harsh authoritarian regimes with double or

545
00:28:25,760 --> 00:28:29,400
Speaker 1: triple digit inflation, you don't ask that question. You realize

546
00:28:29,440 --> 00:28:32,280
Speaker 1: that your money is so ruined that you need any

547
00:28:32,320 --> 00:28:35,320
Speaker 1: alternative you can get. If you're in Turkey watching your

548
00:28:35,359 --> 00:28:40,160
Speaker 1: currency lose, you're in Venezuela or Argentina watching your money

549
00:28:40,200 --> 00:28:43,560
Speaker 1: lose a thousand percent of its purchasing power, you're trying

550
00:28:43,560 --> 00:28:45,200
Speaker 1: to get out of that as fast as you possibly can.

551
00:28:45,200 --> 00:28:47,320
Speaker 1: If you're in North Korea, we're not even allowed to

552
00:28:47,360 --> 00:28:49,600
Speaker 1: have money, and the government comes to your house regularly

553
00:28:49,640 --> 00:28:52,400
Speaker 1: searching if you've stashed anything that they can steal from you.

554
00:28:52,400 --> 00:28:54,160
Speaker 1: You realize why you need it. But if you're the

555
00:28:54,240 --> 00:28:57,959
Speaker 1: United States, you don't really get it. You know, our

556
00:28:58,000 --> 00:29:01,400
Speaker 1: inflation is bad, you know, eight and it's not that bad,

557
00:29:01,560 --> 00:29:05,600
Speaker 1: you know. Um, you know, I'm only losing half my

558
00:29:05,720 --> 00:29:08,400
Speaker 1: money every eighteen years. I mean, it's not too bad, right.

559
00:29:09,640 --> 00:29:11,600
Speaker 1: Think about that. If you put a hundred thousand dollars

560
00:29:11,600 --> 00:29:13,400
Speaker 1: in the bank and you had a baby, and you

561
00:29:13,400 --> 00:29:14,960
Speaker 1: put the hundred thousan dollars in the bank for your

562
00:29:15,000 --> 00:29:16,560
Speaker 1: baby by the time, by the time your baby was

563
00:29:16,600 --> 00:29:18,240
Speaker 1: eighteen years old, and you want to give them that money,

564
00:29:18,400 --> 00:29:21,200
Speaker 1: it's only going to buy you about fifty dollars worth

565
00:29:21,200 --> 00:29:25,520
Speaker 1: of goods and services. But that's not that bad compared

566
00:29:25,560 --> 00:29:26,800
Speaker 1: to what the other worlds. So the rest of the

567
00:29:26,840 --> 00:29:28,200
Speaker 1: world has. So people are like, well, what do I

568
00:29:28,200 --> 00:29:30,960
Speaker 1: need the money for? But the more that the government's

569
00:29:30,960 --> 00:29:33,080
Speaker 1: try to crack down on these things, the more they

570
00:29:33,160 --> 00:29:37,560
Speaker 1: highlight why we need alternatives. Interesting enough, this week I

571
00:29:37,560 --> 00:29:39,840
Speaker 1: saw this article that the I R S is now

572
00:29:40,000 --> 00:29:46,400
Speaker 1: requiring PayPal and Venmo to report users earning over six

573
00:29:46,560 --> 00:29:51,760
Speaker 1: hundred dollars? How dare they? How dare these users use that?

574
00:29:52,720 --> 00:29:54,600
Speaker 1: What was this? I was looking for? This article? I

575
00:29:54,680 --> 00:29:56,680
Speaker 1: read this week. I didn't have it prepared. I just

576
00:29:56,720 --> 00:30:00,760
Speaker 1: thought about it right here here we go. Um, okay,

577
00:30:00,840 --> 00:30:02,720
Speaker 1: so this is this is great. I actually have thought

578
00:30:02,720 --> 00:30:04,880
Speaker 1: about this earlier. So this article comes out here. It

579
00:30:04,920 --> 00:30:06,640
Speaker 1: says that the I R S now requires PayPal Demo

580
00:30:06,680 --> 00:30:09,080
Speaker 1: to report users earning over six hundred bucks. The American

581
00:30:09,120 --> 00:30:12,280
Speaker 1: Rescue Plan Act of one lower the reporting threshold for

582
00:30:12,400 --> 00:30:17,160
Speaker 1: third party networks process payments. So if you use one

583
00:30:17,200 --> 00:30:21,440
Speaker 1: of those payment networks and you use six hundred dollars,

584
00:30:22,720 --> 00:30:26,120
Speaker 1: then the government, uh, the U S. Government wants to

585
00:30:26,240 --> 00:30:29,320
Speaker 1: come and shine a flashlight up your butt and they

586
00:30:29,360 --> 00:30:32,000
Speaker 1: want to know everything about what you're doing. The I

587
00:30:32,080 --> 00:30:34,000
Speaker 1: R S posted this on the IRIS website titled get

588
00:30:34,000 --> 00:30:36,080
Speaker 1: ready now to file your federal and come tax returns,

589
00:30:36,080 --> 00:30:40,640
Speaker 1: and they warned taxpayers that even a single transaction, a

590
00:30:40,720 --> 00:30:45,680
Speaker 1: single transaction exceeding six hundred dollars, could trigger an audit

591
00:30:45,760 --> 00:30:51,200
Speaker 1: for you. Wow, a single transaction over six hundred dollars

592
00:30:51,880 --> 00:30:55,560
Speaker 1: could trigger an audit for you. Now, I don't think

593
00:30:55,640 --> 00:30:58,080
Speaker 1: they won't, especially if you're on the wrong side of

594
00:30:58,080 --> 00:31:00,880
Speaker 1: the aisle from what they want you to be. You know,

595
00:31:00,920 --> 00:31:03,960
Speaker 1: if you've been you know, saying anything they don't agree

596
00:31:03,960 --> 00:31:07,760
Speaker 1: with online, or you vote in the opposite political party

597
00:31:07,800 --> 00:31:10,760
Speaker 1: that has power right now, you could be a target.

598
00:31:10,840 --> 00:31:13,960
Speaker 1: And if you think I am exaggerating, just go back

599
00:31:14,000 --> 00:31:16,360
Speaker 1: and look at what happened when Obama was president and

600
00:31:16,360 --> 00:31:19,680
Speaker 1: how we weaponized the I R S against the Tea Party.

601
00:31:20,440 --> 00:31:24,239
Speaker 1: All right, So if you think I'm being hyperbolic, just

602
00:31:24,240 --> 00:31:25,840
Speaker 1: go look at that. There's history for that. And what

603
00:31:25,880 --> 00:31:29,520
Speaker 1: we can see here is that this is part of

604
00:31:29,640 --> 00:31:33,120
Speaker 1: the Biden administrations. Um, this this whole policy they put

605
00:31:33,160 --> 00:31:37,240
Speaker 1: together and the eighties seven thousand new agents that they've

606
00:31:37,320 --> 00:31:42,680
Speaker 1: hired as a result of the Inflation Reduction Act, So, um,

607
00:31:42,720 --> 00:31:44,640
Speaker 1: they raised a bunch of money. They hired eighty seven

608
00:31:44,960 --> 00:31:47,720
Speaker 1: new agents to go do what to go do audits

609
00:31:47,800 --> 00:31:49,720
Speaker 1: And as they say on their own website, if you

610
00:31:49,800 --> 00:31:54,800
Speaker 1: fail to even report one single transaction of over six

611
00:31:54,880 --> 00:31:58,120
Speaker 1: hundred dollars, they're gonna come knock on your door now

612
00:31:58,600 --> 00:32:04,480
Speaker 1: six If you're doing transact six hundred, box like, do

613
00:32:04,560 --> 00:32:07,760
Speaker 1: you have the money in the time to even deal

614
00:32:08,440 --> 00:32:10,440
Speaker 1: with an audit? Do you know what that does to

615
00:32:10,520 --> 00:32:13,040
Speaker 1: your life? I mean I have friends that have gone

616
00:32:13,040 --> 00:32:15,120
Speaker 1: through audits where their whole life has been turned upside

617
00:32:15,160 --> 00:32:20,320
Speaker 1: down six bucks. In the same week, I saw this

618
00:32:20,400 --> 00:32:25,400
Speaker 1: article here the pen The Pentagon fails. The Pentagon fails

619
00:32:25,440 --> 00:32:30,200
Speaker 1: it's fifth annual audit in a row, fails its audit. Fifth.

620
00:32:30,240 --> 00:32:34,040
Speaker 1: You're in the Pentagon. The U S Department of Defense

621
00:32:34,760 --> 00:32:38,640
Speaker 1: can't even get through an audit, But you with your

622
00:32:38,760 --> 00:32:41,160
Speaker 1: six hundred dollars are going to be facing one. It

623
00:32:41,160 --> 00:32:43,680
Speaker 1: says here, the US partner Defense has once again failed

624
00:32:43,680 --> 00:32:47,320
Speaker 1: a comprehensive financial audit. The audit is the fifth comprehensive

625
00:32:47,320 --> 00:32:51,000
Speaker 1: overview the department has completed, and the fifth where auditors

626
00:32:51,000 --> 00:32:54,440
Speaker 1: were unable to find sufficient record keeping for the d

627
00:32:54,600 --> 00:32:59,200
Speaker 1: o D to pass off on a clean audit, so

628
00:32:59,240 --> 00:33:04,720
Speaker 1: that they can't even get through it. No, what does

629
00:33:04,720 --> 00:33:09,200
Speaker 1: it say here? I was trying to find the numbers here?

630
00:33:09,760 --> 00:33:15,600
Speaker 1: Oh here, yeah, uh, you know it's only three point

631
00:33:15,680 --> 00:33:18,160
Speaker 1: seven trillion dollars they can't account for. That's what the

632
00:33:18,240 --> 00:33:22,000
Speaker 1: number here? Three point seven trillion, No big deal. Um,

633
00:33:22,040 --> 00:33:25,040
Speaker 1: you know, we'll just let them slide on that. But

634
00:33:25,240 --> 00:33:30,480
Speaker 1: you with your six dollars, Oh, we're gonna come after you.

635
00:33:30,480 --> 00:33:33,280
Speaker 1: You know, you can tell a lot about the status

636
00:33:33,320 --> 00:33:38,080
Speaker 1: of a nation by how they prosecute crimes. How do

637
00:33:38,160 --> 00:33:41,000
Speaker 1: they prosecute crimes against the people, and how do they

638
00:33:41,040 --> 00:33:45,960
Speaker 1: prosecute crimes against themselves? So what do I mean by that? Well,

639
00:33:46,360 --> 00:33:50,440
Speaker 1: let's see, if you're Sam Bankman freed and you defrauded

640
00:33:50,800 --> 00:33:55,360
Speaker 1: millions of Americans out of ten billion dollars, millions of

641
00:33:55,400 --> 00:34:00,360
Speaker 1: Americans potentially have lost everything, every single penny, probably will

642
00:34:00,360 --> 00:34:02,480
Speaker 1: be taking their own lives over this, I would guess.

643
00:34:04,240 --> 00:34:07,520
Speaker 1: Not only are you still walking around free, you're being

644
00:34:07,600 --> 00:34:10,239
Speaker 1: asked to come speak on the same stage as the

645
00:34:10,320 --> 00:34:14,560
Speaker 1: Treasury Secretary Janet Yellen, the same stage as Larry Fink.

646
00:34:14,560 --> 00:34:16,279
Speaker 1: They had a black raft, the largest asset manager in

647
00:34:16,320 --> 00:34:18,960
Speaker 1: the world. Not only are you still free, you're being celebrated.

648
00:34:19,920 --> 00:34:23,200
Speaker 1: When you stole from millions of Americans billions of dollars,

649
00:34:23,200 --> 00:34:28,560
Speaker 1: no problem. But if you're you know, somebody else, say

650
00:34:28,640 --> 00:34:33,280
Speaker 1: like Julian Assan who um shared a piece of information

651
00:34:33,320 --> 00:34:38,279
Speaker 1: from a reporter which is protected under our laws, you're

652
00:34:38,320 --> 00:34:40,680
Speaker 1: hunted down and extradited and your put away with no

653
00:34:41,520 --> 00:34:45,920
Speaker 1: recourse or your um Ross Olbrich, who created an internet

654
00:34:45,960 --> 00:34:50,880
Speaker 1: website that people bought and sold things on, and some

655
00:34:50,920 --> 00:34:54,400
Speaker 1: people bought drugs on that website and you're serving four

656
00:34:55,400 --> 00:35:00,320
Speaker 1: consecutive life sentences for consecutive life sentence because you created

657
00:35:00,360 --> 00:35:05,040
Speaker 1: a website that people bought drugs off of. Now I'm

658
00:35:05,080 --> 00:35:07,640
Speaker 1: not well, I am saying. Yes, I am saying I

659
00:35:07,680 --> 00:35:10,040
Speaker 1: think drugs should be illegal. I think it's insane that

660
00:35:10,040 --> 00:35:11,920
Speaker 1: they're illegal. I think the War on drugs is a

661
00:35:11,920 --> 00:35:14,800
Speaker 1: complete failure. Since nineteen sy once the d A was founded,

662
00:35:14,800 --> 00:35:17,120
Speaker 1: we spent trillions of dollars on drugs and it's only

663
00:35:17,200 --> 00:35:19,520
Speaker 1: a bigger problem today than it's ever been. We've made

664
00:35:19,560 --> 00:35:24,239
Speaker 1: these drug cartels in enormously rich, and now they're so

665
00:35:24,320 --> 00:35:28,080
Speaker 1: powerful that they're more powerful than some of the militaries

666
00:35:28,080 --> 00:35:31,880
Speaker 1: in Mexico and Central America. They have more advanced weaponry

667
00:35:31,960 --> 00:35:35,160
Speaker 1: and they're creating war zones along the U. S borders.

668
00:35:35,280 --> 00:35:36,880
Speaker 1: How did they get there? How do they get so

669
00:35:36,920 --> 00:35:39,439
Speaker 1: much money? Oh, the War on drugs. If drugs were legal,

670
00:35:39,440 --> 00:35:42,000
Speaker 1: we'd never have that problem. Um. The number one cause

671
00:35:42,040 --> 00:35:44,080
Speaker 1: of death in the in the US for a believe

672
00:35:44,160 --> 00:35:47,840
Speaker 1: eighteen to thirty five year olds is fentanyl. Why are

673
00:35:47,880 --> 00:35:50,399
Speaker 1: people dying to fanyl because they're buying drugs off the street.

674
00:35:50,520 --> 00:35:55,080
Speaker 1: Drugs were legal, we wouldn't have that problem. But if

675
00:35:55,120 --> 00:35:58,280
Speaker 1: you create a website and people bought drugs for life sentences,

676
00:35:58,520 --> 00:36:02,719
Speaker 1: you still millions of people's money. Wow, we'll celebrate you.

677
00:36:02,800 --> 00:36:05,120
Speaker 1: And that's exactly what we're talking about here. Six You

678
00:36:05,200 --> 00:36:08,680
Speaker 1: fail to claim one single transaction of six dollars and

679
00:36:08,719 --> 00:36:10,600
Speaker 1: these eight seven thousand new agents are coming for you.

680
00:36:10,680 --> 00:36:14,000
Speaker 1: But if you're the Pentagon and you just misplaced three

681
00:36:14,040 --> 00:36:18,239
Speaker 1: point five trillion and you failed your fifth audit in

682
00:36:18,280 --> 00:36:24,680
Speaker 1: a row, no big deal. And the point that I

683
00:36:24,719 --> 00:36:26,200
Speaker 1: was trying to make prob went on the long rant

684
00:36:26,360 --> 00:36:29,560
Speaker 1: is as they continue to squeeze people, more people will

685
00:36:29,560 --> 00:36:32,560
Speaker 1: be forced to go find other systems. They'll be getting

686
00:36:32,560 --> 00:36:34,520
Speaker 1: out of the dollar system, just like Russia is, just

687
00:36:34,560 --> 00:36:38,120
Speaker 1: like India is, just like China is, and other people

688
00:36:38,120 --> 00:36:39,840
Speaker 1: will as well. They don't want to stay in the

689
00:36:39,880 --> 00:36:42,440
Speaker 1: central bank digital currency feat money system where they can

690
00:36:42,680 --> 00:36:45,680
Speaker 1: seize everything. They're gonna go find a new alternative system,

691
00:36:45,719 --> 00:36:47,239
Speaker 1: and I believe that's bitcoin. If you're just tune in,

692
00:36:47,239 --> 00:36:49,200
Speaker 1: you're listening to the Markma Show, we're talking about the

693
00:36:49,239 --> 00:36:52,919
Speaker 1: decentralized revolution, the way the world is changing, talking about

694
00:36:52,920 --> 00:36:56,640
Speaker 1: it starting from the change of the monetary system. That's

695
00:36:56,640 --> 00:36:57,720
Speaker 1: what I got. Thanks for listening,