1 00:00:00,120 --> 00:00:02,640 Speaker 1: Hello, and welcome to another episode of the Mark Mos Show, 2 00:00:02,640 --> 00:00:06,120 Speaker 1: where we're always talking about the decentralized revolution, talking about 3 00:00:06,120 --> 00:00:09,119 Speaker 1: the way that the world is changing. Yes, through the 4 00:00:09,320 --> 00:00:12,400 Speaker 1: very lens of politics, finance, and technology. That's the way 5 00:00:12,400 --> 00:00:15,480 Speaker 1: that it brings better context to what is going on. 6 00:00:16,040 --> 00:00:18,280 Speaker 1: And we have a lot to cover today. I'm excited 7 00:00:18,280 --> 00:00:20,800 Speaker 1: about this. It's the topic that I love to talk about. 8 00:00:20,920 --> 00:00:23,479 Speaker 1: I talk about all the time, and that is money. 9 00:00:24,160 --> 00:00:27,320 Speaker 1: Money touches every single aspect of our lives. Now, there's 10 00:00:27,320 --> 00:00:30,640 Speaker 1: a quote from the Bible that's often misunderstood or misused, 11 00:00:30,960 --> 00:00:35,360 Speaker 1: and it's said that money is the root of all evil. 12 00:00:36,080 --> 00:00:38,440 Speaker 1: But that is not what the Bible says. That quote 13 00:00:38,479 --> 00:00:41,080 Speaker 1: is taken out of context. It says that the love 14 00:00:41,479 --> 00:00:43,519 Speaker 1: of money is the root of all evil. So what 15 00:00:43,520 --> 00:00:46,360 Speaker 1: does that mean. It's that when we love money more 16 00:00:46,400 --> 00:00:50,720 Speaker 1: than anything else, will do anything to get money, rob kill, still, 17 00:00:51,040 --> 00:00:54,120 Speaker 1: whatever it is. That's the problem if the love of 18 00:00:54,200 --> 00:00:56,840 Speaker 1: money being above everything else. And so we're supposed to 19 00:00:57,040 --> 00:01:02,520 Speaker 1: love other people and use money to love other people. Unfortunately, 20 00:01:02,600 --> 00:01:05,920 Speaker 1: what people do today is they use other people and 21 00:01:06,000 --> 00:01:08,679 Speaker 1: love money. It's the opposite. So I love to talk 22 00:01:08,680 --> 00:01:10,640 Speaker 1: about money. I'm not saying I love money. It's not 23 00:01:10,680 --> 00:01:12,759 Speaker 1: the root of my evil, but it's an interesting topic 24 00:01:12,800 --> 00:01:15,360 Speaker 1: and it touches every area of our life. Now. I 25 00:01:15,440 --> 00:01:18,440 Speaker 1: like to focus on money because after having made a 26 00:01:18,480 --> 00:01:20,760 Speaker 1: lot of money and losing it, I realize how bad 27 00:01:20,800 --> 00:01:22,520 Speaker 1: that is. I want to try to prevent other people 28 00:01:22,520 --> 00:01:26,320 Speaker 1: from making the same mistakes that I've made. Don't make 29 00:01:26,319 --> 00:01:28,360 Speaker 1: the same mistakes that I've made. But I also think 30 00:01:28,400 --> 00:01:32,400 Speaker 1: about it because it touches every area of our lives. 31 00:01:32,480 --> 00:01:35,120 Speaker 1: And you know, when I was trying to rebuild things, 32 00:01:35,319 --> 00:01:39,600 Speaker 1: it was really from a purely selfish standpoint. And once 33 00:01:39,640 --> 00:01:40,920 Speaker 1: I made a little bit more money than it starts 34 00:01:40,920 --> 00:01:42,800 Speaker 1: to be a little more philanthropic. But really I like 35 00:01:42,800 --> 00:01:46,160 Speaker 1: to focus on money, specifically for me, because it gives 36 00:01:46,400 --> 00:01:49,800 Speaker 1: me and my family and my friends and loved ones 37 00:01:49,920 --> 00:01:54,920 Speaker 1: more options and I can help more people. Now, the 38 00:01:55,000 --> 00:01:57,400 Speaker 1: helping more people is an important piece. I want to 39 00:01:57,440 --> 00:02:02,920 Speaker 1: talk about what just happened. Had the fifty third anniversary 40 00:02:03,040 --> 00:02:07,200 Speaker 1: of a really, really, really big event that changed money 41 00:02:07,240 --> 00:02:09,640 Speaker 1: as we know it. So I'm going to break that down. 42 00:02:10,680 --> 00:02:13,080 Speaker 1: The anniversary that just happened breaking money as we know it, 43 00:02:13,160 --> 00:02:15,120 Speaker 1: How we got there, We're back into that then we're 44 00:02:15,120 --> 00:02:17,200 Speaker 1: going to look at the problems that it's caused and 45 00:02:17,240 --> 00:02:20,320 Speaker 1: then where we go from there. All right, So that's 46 00:02:20,360 --> 00:02:21,480 Speaker 1: what we're going to cover in the show. But I 47 00:02:21,520 --> 00:02:23,799 Speaker 1: was just going to tell you, you know, one thing 48 00:02:23,840 --> 00:02:28,960 Speaker 1: that I find that breaks the grip of materialism is giving. 49 00:02:29,680 --> 00:02:32,120 Speaker 1: And so I love money, but as I said, I 50 00:02:32,160 --> 00:02:34,280 Speaker 1: want money for myself, my friends, and my family for 51 00:02:34,440 --> 00:02:36,079 Speaker 1: more options for them, but also so I can help 52 00:02:36,080 --> 00:02:38,519 Speaker 1: other people. And so by helping other people, you'll start 53 00:02:38,560 --> 00:02:41,080 Speaker 1: to break that grip of materialism or that grip of 54 00:02:41,160 --> 00:02:43,600 Speaker 1: money over your life. But let's dig into the topic 55 00:02:43,639 --> 00:02:46,040 Speaker 1: that we're going to discover right now, which is what 56 00:02:46,400 --> 00:02:48,480 Speaker 1: just happened, or I should say, what was the anniversary 57 00:02:48,520 --> 00:02:52,240 Speaker 1: that just happened that showed or really was the anniversary 58 00:02:52,280 --> 00:02:55,640 Speaker 1: of when money became broken and it has caused since then. 59 00:02:55,760 --> 00:02:57,600 Speaker 1: So there's a couple of quotes that I want to 60 00:02:57,639 --> 00:03:00,640 Speaker 1: pull out. You know, one of my favorite books I 61 00:03:00,880 --> 00:03:04,760 Speaker 1: recently just recommended to Q, my show producer, to read, 62 00:03:04,760 --> 00:03:07,520 Speaker 1: and he did. I've read it many times. I recommend 63 00:03:07,560 --> 00:03:09,240 Speaker 1: you read as well. And it's a book written called 64 00:03:09,480 --> 00:03:13,120 Speaker 1: The Law. Very simple title and a very simple book. 65 00:03:13,240 --> 00:03:14,760 Speaker 1: It's like a booklet. You can read it in about 66 00:03:14,800 --> 00:03:16,840 Speaker 1: an hour. Highly recommend it going on Amazon right now 67 00:03:16,880 --> 00:03:18,480 Speaker 1: where you're listening to me and buy it. But Frederick 68 00:03:18,480 --> 00:03:22,040 Speaker 1: Bastiatt wrote this book a couple hundred years ago, and 69 00:03:22,080 --> 00:03:25,120 Speaker 1: there's a quote in there he says, when plunder so 70 00:03:25,200 --> 00:03:27,720 Speaker 1: like stealing and theft, when plunder becomes a way of 71 00:03:27,720 --> 00:03:30,920 Speaker 1: life for a group of men in a society, over 72 00:03:30,960 --> 00:03:34,720 Speaker 1: the course of time, they create for themselves a legal 73 00:03:34,800 --> 00:03:39,160 Speaker 1: system that authorizes it and a moral quote code that 74 00:03:39,320 --> 00:03:43,920 Speaker 1: glorifies it. So what he's talking about is legal plunder, 75 00:03:44,080 --> 00:03:47,560 Speaker 1: So plunder again being theft, stealing, right, So when plunder 76 00:03:47,600 --> 00:03:49,200 Speaker 1: becomes a way of life for a group of men 77 00:03:49,280 --> 00:03:52,160 Speaker 1: in a society, so you might say that the leaders 78 00:03:52,200 --> 00:03:56,160 Speaker 1: of this society have gotten there so that they that's 79 00:03:56,200 --> 00:03:59,400 Speaker 1: their way of life. It's why you look at Nancy 80 00:03:59,400 --> 00:04:03,160 Speaker 1: Pelosi or President Obama coming in broke. I mean, President 81 00:04:03,200 --> 00:04:05,760 Speaker 1: Obama was a community organizer, he had no money going 82 00:04:05,800 --> 00:04:07,760 Speaker 1: into the presidency. Is now he's worth one hundreds of 83 00:04:07,800 --> 00:04:10,640 Speaker 1: millions of dollars. Nancy Pelosi is like the best Wall 84 00:04:10,640 --> 00:04:13,880 Speaker 1: Street trader in history. And and you know, you can 85 00:04:13,960 --> 00:04:16,520 Speaker 1: look at most of these politicians, they've followed the same 86 00:04:16,600 --> 00:04:19,279 Speaker 1: path they go in pennyless. They work on a public 87 00:04:19,400 --> 00:04:23,160 Speaker 1: servant salary and then they're worth hundreds of millions of dollars. 88 00:04:23,920 --> 00:04:26,200 Speaker 1: It's a way of life for them, right, A group 89 00:04:26,240 --> 00:04:28,920 Speaker 1: of men, a group of people in society. Now, over 90 00:04:28,960 --> 00:04:31,520 Speaker 1: the course of time, they continue to create for themselves 91 00:04:31,560 --> 00:04:36,599 Speaker 1: a legal system that authorizes it. So we have insider 92 00:04:36,640 --> 00:04:39,680 Speaker 1: trading laws. Good old Martha Stewart, you know, it helps 93 00:04:39,680 --> 00:04:42,839 Speaker 1: people with their cooking or whatever home decoration. She got 94 00:04:42,920 --> 00:04:46,120 Speaker 1: brought up on insider trading and had to do prison time. 95 00:04:46,279 --> 00:04:48,760 Speaker 1: Like could you imagine Martha Stewart in prison, like in 96 00:04:48,760 --> 00:04:52,040 Speaker 1: her like prison garbs or whatever she has to wear. 97 00:04:52,080 --> 00:04:53,720 Speaker 1: I don't know if she's waring bright orange or whatever. 98 00:04:53,760 --> 00:04:59,080 Speaker 1: But that doesn't apply to the group of men in 99 00:04:59,120 --> 00:05:02,440 Speaker 1: society that have built that in for themselves. So that's 100 00:05:02,480 --> 00:05:05,000 Speaker 1: why Nancy Pelosi is like the best stock trader on earth. 101 00:05:05,040 --> 00:05:09,480 Speaker 1: So they're literally passing laws that affects certain industries and 102 00:05:09,520 --> 00:05:13,240 Speaker 1: businesses and things like that, and they're using that insider 103 00:05:13,240 --> 00:05:15,760 Speaker 1: information that they have to get themselves rich. Now, this 104 00:05:15,839 --> 00:05:19,479 Speaker 1: what this quote says. They create for themselves a legal 105 00:05:19,520 --> 00:05:22,640 Speaker 1: system that authorizes it. So the legal system says you, 106 00:05:23,560 --> 00:05:27,159 Speaker 1: Martha Stewart, you me, we're not allowed to trade with 107 00:05:27,240 --> 00:05:29,719 Speaker 1: any inside information, not that we have it anyway, but 108 00:05:29,760 --> 00:05:31,200 Speaker 1: if you did, you can't use it, or you go 109 00:05:31,240 --> 00:05:33,480 Speaker 1: to Jael like Martha Stewart. But that's the system. They 110 00:05:33,520 --> 00:05:36,440 Speaker 1: create it. But for them, they not only do they 111 00:05:36,480 --> 00:05:38,480 Speaker 1: pass the laws that affect the outcomes, but they get 112 00:05:38,520 --> 00:05:41,400 Speaker 1: to trade on the information as well, and over and 113 00:05:41,440 --> 00:05:43,400 Speaker 1: over and over and over. Of course, people like you 114 00:05:43,440 --> 00:05:45,160 Speaker 1: and I were not happy about that. As matter of fact, 115 00:05:45,200 --> 00:05:46,800 Speaker 1: we're outraged by it. And so over and over and 116 00:05:46,839 --> 00:05:48,640 Speaker 1: over we see that it comes up to you know, 117 00:05:48,720 --> 00:05:50,840 Speaker 1: voting blocks, et cetera. And they, of course they strike 118 00:05:50,920 --> 00:05:53,800 Speaker 1: it down every single time because over the course of 119 00:05:53,839 --> 00:05:55,560 Speaker 1: time back to the quote, they create for themselves a 120 00:05:55,640 --> 00:06:01,039 Speaker 1: legal system that authorizes it. And so they authorize that. 121 00:06:01,160 --> 00:06:03,120 Speaker 1: Now we can see other things. The last part here 122 00:06:03,160 --> 00:06:08,240 Speaker 1: says authorize it and a moral code that glorifies it. 123 00:06:08,520 --> 00:06:10,880 Speaker 1: So now what are we seeing. We're seeing like John Kerry, 124 00:06:11,120 --> 00:06:13,760 Speaker 1: he's like the climates are He's flying all around the 125 00:06:13,760 --> 00:06:16,880 Speaker 1: world and in his private jet. We got Bill Gates 126 00:06:16,880 --> 00:06:19,120 Speaker 1: flying all the way around, you know, all around the 127 00:06:19,160 --> 00:06:22,800 Speaker 1: world in his private jet telling people that they need 128 00:06:22,839 --> 00:06:27,000 Speaker 1: to sacrifice their use of energy. They you, you and 129 00:06:27,040 --> 00:06:30,560 Speaker 1: I the other people. You can't use gas stoves anymore. 130 00:06:30,920 --> 00:06:33,560 Speaker 1: You you know, cows are bad. You shouldn't be driving 131 00:06:33,600 --> 00:06:36,719 Speaker 1: as much because the climate. And someone asked Bill Gates 132 00:06:36,720 --> 00:06:40,000 Speaker 1: recently or John Care you know Bill Gates specifically, and 133 00:06:40,040 --> 00:06:44,880 Speaker 1: they said, how can you justify telling all these people 134 00:06:44,960 --> 00:06:47,440 Speaker 1: they need to reduce their energy, but yet you're flying 135 00:06:47,440 --> 00:06:49,840 Speaker 1: all around in your private jet And he said, well, 136 00:06:49,880 --> 00:06:53,520 Speaker 1: that's because I'm doing good with it. Okay, So back 137 00:06:53,520 --> 00:06:56,400 Speaker 1: to the quote, create a system for themselves that that 138 00:06:56,400 --> 00:06:59,680 Speaker 1: that legal system that authorizes it, and a moral code 139 00:07:00,080 --> 00:07:03,839 Speaker 1: that glorifies it. So now, because they're public servants doing 140 00:07:03,880 --> 00:07:07,800 Speaker 1: this public good, the morality is that they're allowed to 141 00:07:07,800 --> 00:07:10,680 Speaker 1: steal the morality of Bill Gates to say, well, because 142 00:07:10,720 --> 00:07:12,600 Speaker 1: I'm doing good with it, because I give billions of 143 00:07:12,600 --> 00:07:15,080 Speaker 1: dollars to climate change initiatives, then I'm allowed to go 144 00:07:15,120 --> 00:07:17,200 Speaker 1: do this. They create this moral code for that. So 145 00:07:17,800 --> 00:07:20,600 Speaker 1: that's what's going on. But how did we get here? Now? 146 00:07:20,840 --> 00:07:23,000 Speaker 1: This was a warning again, like I said, from Frederick 147 00:07:23,000 --> 00:07:27,000 Speaker 1: Basti eight hundreds of years ago, But so we knew 148 00:07:27,000 --> 00:07:29,880 Speaker 1: that we would go down this path but didn't stop. 149 00:07:30,080 --> 00:07:33,560 Speaker 1: There was another quote from Marty Bent he's a bitcoin 150 00:07:33,880 --> 00:07:36,200 Speaker 1: podcaster friend, I've been on his show a couple times. 151 00:07:36,200 --> 00:07:37,840 Speaker 1: You've been on my show as well. He said, when 152 00:07:37,880 --> 00:07:40,880 Speaker 1: looting is normalized at the highest levels of society, it 153 00:07:40,920 --> 00:07:44,840 Speaker 1: will eventually flow to and normalize at the lowest levels 154 00:07:44,880 --> 00:07:47,280 Speaker 1: of society. The culture's broken and it starts at the 155 00:07:47,320 --> 00:07:49,000 Speaker 1: top of the power structure. So of course that's how 156 00:07:49,000 --> 00:07:51,400 Speaker 1: it starts. So anyone who's ever run a business already 157 00:07:51,400 --> 00:07:52,800 Speaker 1: knows this, and if you haven't run a business, you 158 00:07:52,880 --> 00:07:55,240 Speaker 1: might know this as well. But in a business, you 159 00:07:55,280 --> 00:07:57,640 Speaker 1: have lots of people working there, and it's important to 160 00:07:57,640 --> 00:08:01,680 Speaker 1: have a company culture. This is the values that the 161 00:08:01,800 --> 00:08:04,880 Speaker 1: business has, the way that they treat each other, the 162 00:08:04,920 --> 00:08:06,320 Speaker 1: way that they help each other, the way that they 163 00:08:06,320 --> 00:08:08,520 Speaker 1: treat customers, the image they project out to the public, 164 00:08:08,520 --> 00:08:12,240 Speaker 1: all these different things and the really really good businesses 165 00:08:12,240 --> 00:08:15,200 Speaker 1: that have excelled. Zappos the shoe the online shoe company, 166 00:08:15,280 --> 00:08:17,440 Speaker 1: was like an example of this. Southwest always been a 167 00:08:17,480 --> 00:08:19,880 Speaker 1: good example of this. Is they have very very strong culture, 168 00:08:20,040 --> 00:08:22,240 Speaker 1: but the culture is set from the top. It's the 169 00:08:22,360 --> 00:08:25,600 Speaker 1: leadership that intentionally designs the culture and they have to 170 00:08:25,680 --> 00:08:27,600 Speaker 1: live that out. There's a saying it says the fish 171 00:08:27,600 --> 00:08:31,000 Speaker 1: stinks from the head down. And so if the leadership 172 00:08:31,080 --> 00:08:32,960 Speaker 1: is good and have designed good culture, the company does 173 00:08:33,040 --> 00:08:35,640 Speaker 1: very well. And if they are bad, then the company 174 00:08:35,679 --> 00:08:37,520 Speaker 1: is very badly. And back to kind of what this 175 00:08:37,600 --> 00:08:40,079 Speaker 1: quote says. When it's when looting is normalized at the 176 00:08:40,120 --> 00:08:42,480 Speaker 1: highest level society, it will eventually flow down and normalize 177 00:08:42,520 --> 00:08:45,160 Speaker 1: the lowest levels of society. And that's exactly what's happened. 178 00:08:45,360 --> 00:08:47,240 Speaker 1: You can look back to the founding fathers of the 179 00:08:47,320 --> 00:08:49,960 Speaker 1: United States, and I mean these people came over here, 180 00:08:50,040 --> 00:08:53,920 Speaker 1: risking their life for the benefit of future generations. They 181 00:08:53,960 --> 00:08:56,520 Speaker 1: signed the Declaration of Independence. Most of those people ended 182 00:08:56,559 --> 00:08:59,600 Speaker 1: up dead and it wasn't a good death, and they 183 00:08:59,640 --> 00:09:03,439 Speaker 1: did that sacrifice for future generations. And so that became 184 00:09:03,520 --> 00:09:05,920 Speaker 1: normalized to the lowest level. Everybody was doing something for 185 00:09:05,960 --> 00:09:08,960 Speaker 1: the future benefit of others. But today we have a 186 00:09:09,000 --> 00:09:13,240 Speaker 1: system where as Frederick Presti said, a group of men 187 00:09:13,280 --> 00:09:16,400 Speaker 1: in society created a system to legally steal legal plunder. 188 00:09:16,679 --> 00:09:18,840 Speaker 1: And so when now we see the leadership at the top, 189 00:09:18,840 --> 00:09:22,280 Speaker 1: the Nancy Pelosi's, the Obamas out for themselves, and that 190 00:09:22,360 --> 00:09:25,680 Speaker 1: has what's now been normalized down to the lowest level. Now, 191 00:09:25,800 --> 00:09:27,360 Speaker 1: if you're just tuned in, you're listening to the Mark 192 00:09:27,400 --> 00:09:30,800 Speaker 1: Maas Show. We're breaking down what happened about fifty three 193 00:09:30,840 --> 00:09:34,040 Speaker 1: years ago, how money as we know it changed, and 194 00:09:34,080 --> 00:09:35,839 Speaker 1: what are the effects of that, how we protect ourselves. 195 00:09:35,840 --> 00:09:37,400 Speaker 1: We'll be back with more in a minute. Don't go away, 196 00:09:37,480 --> 00:09:39,560 Speaker 1: bear back, all right, welcome back. If you're just tune in, 197 00:09:39,559 --> 00:09:41,400 Speaker 1: you're listening to the Mark Maas Show. Of course we're 198 00:09:41,559 --> 00:09:45,400 Speaker 1: talking about the decentralized revolution today. We're talking specifically about 199 00:09:45,440 --> 00:09:50,400 Speaker 1: what happened about fifty three years ago that changed money 200 00:09:50,720 --> 00:09:52,720 Speaker 1: for the whole world, for the United States, but also 201 00:09:52,840 --> 00:09:55,600 Speaker 1: for the whole world. And of course that is when 202 00:09:56,040 --> 00:10:00,480 Speaker 1: then President Richard Nixon removed the dollar from the gold standard. 203 00:10:01,040 --> 00:10:03,640 Speaker 1: All right, from the gold standard. What does that even mean? Well, 204 00:10:03,840 --> 00:10:07,320 Speaker 1: that means that gold had been money for five thousand years. 205 00:10:08,480 --> 00:10:11,040 Speaker 1: In nineteen forty four, the whole world agreed to go 206 00:10:11,040 --> 00:10:13,280 Speaker 1: on what's called the Bretonwoods Agreement, where the dollar would 207 00:10:13,320 --> 00:10:16,560 Speaker 1: be backed by gold. That means me, let me explain 208 00:10:16,600 --> 00:10:20,440 Speaker 1: that for a second. That's a misunderstood term. The dollar 209 00:10:20,640 --> 00:10:22,680 Speaker 1: was backed by gold. What does that mean? To be 210 00:10:22,760 --> 00:10:26,360 Speaker 1: backed by. Well, the reason why it's backed is debt 211 00:10:26,720 --> 00:10:29,880 Speaker 1: has to be backed. If you buy house and you 212 00:10:29,960 --> 00:10:33,800 Speaker 1: have a loan, that loan is backed by the house, 213 00:10:34,280 --> 00:10:37,640 Speaker 1: so if you stop paying your debt, they have the house. 214 00:10:38,040 --> 00:10:42,160 Speaker 1: So debt has to be backed by something. So the dollar. 215 00:10:42,360 --> 00:10:45,600 Speaker 1: So gold was money. They gave us a paper gold 216 00:10:45,600 --> 00:10:49,440 Speaker 1: certificate and io you that paper iou that gold certificate 217 00:10:49,480 --> 00:10:51,839 Speaker 1: was backed by the gold in the bank. Anytime I want, 218 00:10:51,920 --> 00:10:54,160 Speaker 1: I can go take that paper certificate that IOE you 219 00:10:54,240 --> 00:10:57,480 Speaker 1: and reclaim the gold for it. It was backed by 220 00:10:57,480 --> 00:10:59,839 Speaker 1: the gold in the bank. If I gave it to you, 221 00:11:00,120 --> 00:11:04,200 Speaker 1: go claim the gold. Okay, So that dollar was backed 222 00:11:04,280 --> 00:11:07,839 Speaker 1: that That debt instrument was backed by the gold in 223 00:11:07,880 --> 00:11:11,000 Speaker 1: the bank. But only debt needs to be backed by something. 224 00:11:11,240 --> 00:11:13,319 Speaker 1: So a lot of times you hear people talk about bitcoin, well, 225 00:11:13,320 --> 00:11:17,160 Speaker 1: what's bitcoin backed by? Well, you obviously don't understand how 226 00:11:17,280 --> 00:11:19,959 Speaker 1: money works even ask that question, So no matter what 227 00:11:20,000 --> 00:11:22,560 Speaker 1: I tell you probably won't matter. But only debt must 228 00:11:22,600 --> 00:11:24,720 Speaker 1: be backed by something. I would just reply with, well, 229 00:11:24,720 --> 00:11:27,280 Speaker 1: what's bitcoin backed by? I don't know what's gold backed by? 230 00:11:28,320 --> 00:11:32,560 Speaker 1: What's oil backed by? Right? Oil is just oil? Now 231 00:11:32,600 --> 00:11:35,199 Speaker 1: oil has value because we give it value because of 232 00:11:35,240 --> 00:11:38,439 Speaker 1: its utility. Gold has value because we sign it value 233 00:11:38,480 --> 00:11:40,960 Speaker 1: because of its utility, but only if it's used in 234 00:11:41,000 --> 00:11:42,880 Speaker 1: that utility does have value. So for example, if i'ming 235 00:11:42,920 --> 00:11:44,960 Speaker 1: a deserted island and I have no food, no water, 236 00:11:45,000 --> 00:11:46,760 Speaker 1: no boat, no phone, no way to get off that island, 237 00:11:46,800 --> 00:11:48,880 Speaker 1: and I have a billion dollars worth of cash, a 238 00:11:48,920 --> 00:11:51,600 Speaker 1: billion dollars worth of gold, and a billion dollars worth 239 00:11:51,640 --> 00:11:54,880 Speaker 1: of bitcoin, and a billion dollars worth oil whatever, none 240 00:11:54,920 --> 00:11:57,839 Speaker 1: of that's worth anything to me. I can't utilize it. 241 00:11:57,920 --> 00:12:00,719 Speaker 1: The utility is gone. The only thing I would want 242 00:12:00,760 --> 00:12:03,600 Speaker 1: at that point would be food and water, then maybe 243 00:12:03,600 --> 00:12:05,120 Speaker 1: a boat and a phone to get off the island. 244 00:12:05,240 --> 00:12:08,280 Speaker 1: Those are the only things worth anything. Last night at dinner, 245 00:12:08,480 --> 00:12:10,439 Speaker 1: I had some water I didn't finish drinking and it 246 00:12:10,520 --> 00:12:12,960 Speaker 1: got poured out. Was worthless to me. But on a 247 00:12:12,960 --> 00:12:15,280 Speaker 1: deserted island, I'd probably give that billion dollars a gold 248 00:12:15,360 --> 00:12:19,760 Speaker 1: or whatever for that water. So that's how that works, 249 00:12:19,760 --> 00:12:21,720 Speaker 1: as a little side check on that. So anyway, gold 250 00:12:21,800 --> 00:12:24,040 Speaker 1: was money they issued the dollars. What happened in nine 251 00:12:24,080 --> 00:12:26,839 Speaker 1: seventy one is that he severed the ties of that, 252 00:12:27,840 --> 00:12:29,920 Speaker 1: and what happened is that it threw the whole world 253 00:12:29,960 --> 00:12:32,800 Speaker 1: into a telspin because the dollar was backed by gold 254 00:12:33,760 --> 00:12:35,280 Speaker 1: and all the currency of the world were pegged to 255 00:12:35,320 --> 00:12:38,280 Speaker 1: the dollar. And when he removed that, then we no 256 00:12:38,360 --> 00:12:41,360 Speaker 1: longer had any sort of anchor, and all we had 257 00:12:41,720 --> 00:12:47,000 Speaker 1: was just free floating currency that they could just print unlimited. Now, 258 00:12:47,120 --> 00:12:49,840 Speaker 1: when they print unlimited, they do that in order to, 259 00:12:50,000 --> 00:12:53,600 Speaker 1: as Bastiat said, create a system that legally allows them 260 00:12:53,600 --> 00:12:56,559 Speaker 1: to plunder. So right now, if the government wants money, 261 00:12:56,640 --> 00:12:59,640 Speaker 1: they have two choices. Remember, the government doesn't create anything. 262 00:13:00,200 --> 00:13:05,960 Speaker 1: The government cannot give something that has not taken So 263 00:13:06,000 --> 00:13:08,760 Speaker 1: whenever you want the government to give you something a 264 00:13:08,800 --> 00:13:13,120 Speaker 1: new benefit, healthcare, college, education, whatever that may be, fill 265 00:13:13,160 --> 00:13:16,240 Speaker 1: in the blank, they can't give you something if they 266 00:13:16,280 --> 00:13:20,640 Speaker 1: haven't taken it from somebody else. Let's let that sink 267 00:13:20,679 --> 00:13:24,199 Speaker 1: in for a second. So how does the government get things. Well, 268 00:13:24,200 --> 00:13:26,280 Speaker 1: they take them, but they can only take so much. 269 00:13:26,559 --> 00:13:29,120 Speaker 1: If they take too much, the whole system falls apart. 270 00:13:29,160 --> 00:13:31,800 Speaker 1: So they take it through taxation. Obviously, you got to 271 00:13:31,840 --> 00:13:34,319 Speaker 1: pay your taxes, and of course there's income taxes, there's 272 00:13:34,360 --> 00:13:37,079 Speaker 1: property taxes, so security taxes, all kinds of taxes, and 273 00:13:37,120 --> 00:13:39,240 Speaker 1: so that's the main way they do that. The problem 274 00:13:39,280 --> 00:13:41,200 Speaker 1: is is, like I said, if they raise those taxes 275 00:13:41,240 --> 00:13:44,719 Speaker 1: too high, then there's a revolt. They can get to 276 00:13:44,760 --> 00:13:48,800 Speaker 1: about fifty percent, and that's probably about it. Now. The 277 00:13:48,840 --> 00:13:51,080 Speaker 1: other thing that they can do, because again they can 278 00:13:51,120 --> 00:13:55,440 Speaker 1: only tax so high, then they steal arbitrarily and secretly, 279 00:13:55,440 --> 00:13:58,280 Speaker 1: and they do that through inflation. So by printing a 280 00:13:58,320 --> 00:14:01,719 Speaker 1: lot of money, there's stealing the value out of your 281 00:14:01,720 --> 00:14:04,760 Speaker 1: existing currency. So you have one hundred thousand currency units 282 00:14:04,760 --> 00:14:07,680 Speaker 1: one hundred thousand dollars in the bank ten years ago. 283 00:14:07,920 --> 00:14:10,760 Speaker 1: Today you still have one hundred thousand currency units, one 284 00:14:10,800 --> 00:14:13,760 Speaker 1: hundred thousand dollars in the bank. But the problem is 285 00:14:14,000 --> 00:14:16,920 Speaker 1: ten years ago those things bought you a much bigger 286 00:14:16,920 --> 00:14:18,760 Speaker 1: house than they buy you today. So even though the 287 00:14:18,760 --> 00:14:21,440 Speaker 1: same currency units are there, they stole the value from that. 288 00:14:21,520 --> 00:14:25,600 Speaker 1: Now people don't like that, and so people aren't happy. 289 00:14:25,600 --> 00:14:27,480 Speaker 1: They want to revolt. We also see back to kind 290 00:14:27,480 --> 00:14:29,000 Speaker 1: of the point the legal plunder. We don't like that. 291 00:14:29,040 --> 00:14:30,880 Speaker 1: We don't like the inside of trading. We see all 292 00:14:30,920 --> 00:14:34,560 Speaker 1: the grift and theft that's going on, and so we 293 00:14:34,600 --> 00:14:37,760 Speaker 1: see the corruption that's there, and so people start to 294 00:14:38,200 --> 00:14:41,720 Speaker 1: push back on that. And as things continue to get 295 00:14:41,760 --> 00:14:45,480 Speaker 1: more corrupt through the money system, corrupting things, people push 296 00:14:45,560 --> 00:14:47,520 Speaker 1: back and so then the government has to crack down 297 00:14:47,640 --> 00:14:50,880 Speaker 1: even more, and so they pass laws like, for example, 298 00:14:50,880 --> 00:14:54,120 Speaker 1: the Bank Secrecy Act packed pass to nineteen seventy. Now, 299 00:14:54,160 --> 00:14:57,400 Speaker 1: of course it's for your protection. It was passing nine 300 00:14:57,440 --> 00:15:00,960 Speaker 1: seventy to combat money laundering, and of course they've changed 301 00:15:01,000 --> 00:15:03,840 Speaker 1: it many many times, most recently in twenty twenty. But 302 00:15:03,920 --> 00:15:06,200 Speaker 1: since nineteen seventy they've changed it a bunch of times 303 00:15:06,200 --> 00:15:09,720 Speaker 1: to address different sets of different sets of problems that 304 00:15:09,760 --> 00:15:15,000 Speaker 1: they see, such as cryptocurrencies. For example. They pass things 305 00:15:15,240 --> 00:15:19,000 Speaker 1: that require financial institutions to report what they call suspicious 306 00:15:19,040 --> 00:15:21,920 Speaker 1: activity or suspicious activity reports, or what they call them 307 00:15:21,960 --> 00:15:25,640 Speaker 1: STARS reports. So there are certain things that would trigger these, 308 00:15:25,680 --> 00:15:29,320 Speaker 1: like large cash transactions to deposits, wire transfers, things like that. 309 00:15:29,400 --> 00:15:32,160 Speaker 1: Now the banks have quotas on how many of these 310 00:15:32,160 --> 00:15:34,960 Speaker 1: STARS reports are supposed to fill out, and the Biden 311 00:15:35,080 --> 00:15:39,120 Speaker 1: crime family supposedly had, like I didn't look it up, 312 00:15:39,400 --> 00:15:42,480 Speaker 1: hundreds of these, maybe even thousands, I forget, but lots 313 00:15:42,520 --> 00:15:45,080 Speaker 1: of STARS reports filed against them for all of their 314 00:15:45,160 --> 00:15:48,160 Speaker 1: banking transactions they were doing. But of course that was 315 00:15:48,200 --> 00:15:51,160 Speaker 1: never investigated. But we have all these things, the Bank 316 00:15:51,520 --> 00:15:55,840 Speaker 1: Secrecy Act, we have things like KYC Know your Customer 317 00:15:55,840 --> 00:15:58,200 Speaker 1: where they have to get all your idea information. We 318 00:15:58,280 --> 00:16:02,240 Speaker 1: have things like AML and I'm anti money laundering. Of course, 319 00:16:02,280 --> 00:16:04,720 Speaker 1: in two thousand and one they passed the Patriot Act. 320 00:16:04,920 --> 00:16:08,440 Speaker 1: That was the day, you know, obviously the Twin Towers 321 00:16:08,480 --> 00:16:12,560 Speaker 1: attacked in September eleven was catastrophic and a few thousand 322 00:16:12,600 --> 00:16:15,840 Speaker 1: people Americans died. It was a horrible situation, but it 323 00:16:15,920 --> 00:16:18,760 Speaker 1: was also the day that most of our freedom died 324 00:16:19,240 --> 00:16:21,880 Speaker 1: when they passed the Patriot Act. Of course, they call 325 00:16:21,920 --> 00:16:24,800 Speaker 1: it the patriotarcht it's always named almost like the opposite 326 00:16:24,800 --> 00:16:26,600 Speaker 1: of what they're giving you, sort of like when they 327 00:16:27,080 --> 00:16:30,520 Speaker 1: created the Inflation Reduction Act by printing trillions of dollars. 328 00:16:31,160 --> 00:16:35,280 Speaker 1: But this Patriot Act took away our freedoms. With lots 329 00:16:35,320 --> 00:16:37,440 Speaker 1: of ways they could do that. But ultimately, what it 330 00:16:37,480 --> 00:16:41,240 Speaker 1: all comes down to is surveillance and control, and it's 331 00:16:42,080 --> 00:16:44,520 Speaker 1: this all seen eye of sorrow, and they have to 332 00:16:44,560 --> 00:16:45,840 Speaker 1: be able to see everything. They have to be able 333 00:16:45,840 --> 00:16:48,280 Speaker 1: to control everything so they can control any sort of 334 00:16:48,400 --> 00:16:51,000 Speaker 1: uprising against them. But of course all in the name 335 00:16:51,040 --> 00:16:54,320 Speaker 1: of safety. Now, since this has happened, not even talking 336 00:16:54,360 --> 00:16:56,840 Speaker 1: about the fraud and legal plunder part, but just since 337 00:16:56,880 --> 00:16:58,920 Speaker 1: we've left the gold Standard, it started to tear the 338 00:16:58,920 --> 00:17:02,240 Speaker 1: fabric of society, part because of the money being broken. 339 00:17:02,520 --> 00:17:05,360 Speaker 1: We've seen a lot of things happen in regards to that. 340 00:17:05,760 --> 00:17:10,959 Speaker 1: Mainly it all comes down to decreasing the quality of 341 00:17:11,000 --> 00:17:17,520 Speaker 1: your life. So, for example, since nineteen seventy one when 342 00:17:17,520 --> 00:17:21,280 Speaker 1: we got off the gold Standard, we've seen productivity grow 343 00:17:21,359 --> 00:17:25,720 Speaker 1: by almost two hundred and fifty percent, but worker compensation 344 00:17:25,960 --> 00:17:28,880 Speaker 1: or wages only grew by one hundred and fifteen percent. 345 00:17:30,080 --> 00:17:34,440 Speaker 1: We've seen a fifty plus year decline in wages as 346 00:17:34,480 --> 00:17:37,840 Speaker 1: a share of the economy's total income. So basically, in 347 00:17:37,920 --> 00:17:40,439 Speaker 1: layman's terms, what that means is prices are getting more 348 00:17:40,480 --> 00:17:43,200 Speaker 1: expensive and you're not making more money. If you're just 349 00:17:43,240 --> 00:17:45,360 Speaker 1: tuning in you're listening to the Mark Mash Show, we're 350 00:17:45,400 --> 00:17:48,920 Speaker 1: talking about what happened fifty three years ago when then 351 00:17:49,000 --> 00:17:53,400 Speaker 1: President Richard Richard Nixon destroyed money, changed money as we 352 00:17:53,440 --> 00:17:55,639 Speaker 1: know it, and the effects that it's had on the 353 00:17:55,640 --> 00:17:57,679 Speaker 1: rest of the world. We're breaking down some of the 354 00:17:57,720 --> 00:18:00,199 Speaker 1: societal changes that have happened to money, and I want 355 00:18:00,240 --> 00:18:03,840 Speaker 1: to cover next, how we can protect ourselves and where 356 00:18:03,880 --> 00:18:05,600 Speaker 1: we go from here. So we have a whole lot 357 00:18:05,640 --> 00:18:07,399 Speaker 1: more to cover. You don't want to miss this, but 358 00:18:07,440 --> 00:18:09,840 Speaker 1: I gotta take a quick break, So don't go away, 359 00:18:10,119 --> 00:18:11,720 Speaker 1: don't touch the dial. I'm going to take a very 360 00:18:11,800 --> 00:18:14,280 Speaker 1: quick break. I'll be right back with more in a second. 361 00:18:15,280 --> 00:18:16,639 Speaker 1: All right, welcome back. If you just tune in, you're 362 00:18:16,640 --> 00:18:19,080 Speaker 1: listening to the Mark Moss Show. We're talking about what 363 00:18:19,119 --> 00:18:23,199 Speaker 1: happened fifty three years ago when President Richard Nixon destroyed money, 364 00:18:23,320 --> 00:18:26,439 Speaker 1: changed the face of money for the whole world. And 365 00:18:26,480 --> 00:18:28,440 Speaker 1: we've really been in this floating experiment for the last 366 00:18:28,440 --> 00:18:32,600 Speaker 1: fifty years. Gold had been money for you know, most 367 00:18:32,680 --> 00:18:35,560 Speaker 1: of history, thousands and thousands of years, and now we're 368 00:18:35,600 --> 00:18:40,119 Speaker 1: in this free, floating world of paper money. And so 369 00:18:40,400 --> 00:18:41,760 Speaker 1: right before the break, I was kind of running through 370 00:18:41,760 --> 00:18:43,959 Speaker 1: some of the problems that's caused in society. I stopped 371 00:18:43,960 --> 00:18:47,639 Speaker 1: where I said that because of the increase, because costs 372 00:18:47,640 --> 00:18:49,800 Speaker 1: of living have continued to go up while wages have 373 00:18:49,920 --> 00:18:52,000 Speaker 1: not kept up, it means our quality of life has 374 00:18:52,000 --> 00:18:54,640 Speaker 1: gone down. So we have to work harder, harder, longer 375 00:18:54,920 --> 00:18:57,680 Speaker 1: to have the same quality of life that means now 376 00:18:58,000 --> 00:19:01,080 Speaker 1: two people in the family have to work instead of one. Now, 377 00:19:01,119 --> 00:19:04,560 Speaker 1: when that happens, what happens from there, Well, now instead 378 00:19:04,560 --> 00:19:07,520 Speaker 1: of one person being home with the kids, now both 379 00:19:07,520 --> 00:19:09,280 Speaker 1: people are gone. And so now the state gets to 380 00:19:09,359 --> 00:19:12,640 Speaker 1: raise the kids. Now the parents don't have a good 381 00:19:12,680 --> 00:19:15,960 Speaker 1: relationship with the kids now because both people are working. Now, 382 00:19:16,000 --> 00:19:19,119 Speaker 1: they're both stressed out. They don't have good relationships. So 383 00:19:19,160 --> 00:19:23,080 Speaker 1: then what happens, Well, then we have high divorce rate. 384 00:19:24,880 --> 00:19:28,000 Speaker 1: The number one cause of divorce I believe is money, right, 385 00:19:28,240 --> 00:19:31,040 Speaker 1: fighting over money. You can't make enough money, We're stressed 386 00:19:31,040 --> 00:19:33,280 Speaker 1: out over money. We're not spending enough time together. We 387 00:19:33,320 --> 00:19:35,040 Speaker 1: don't get to go on vacation together because we can't 388 00:19:35,040 --> 00:19:37,440 Speaker 1: afford it. We don't have any money. We've seen medium 389 00:19:37,560 --> 00:19:42,120 Speaker 1: home prices balloon as inflation continues to be a more 390 00:19:42,520 --> 00:19:47,160 Speaker 1: bigger and bigger, bigger problem. We're seeing banking crisis has happened. Obviously, 391 00:19:47,200 --> 00:19:50,680 Speaker 1: the US national debt is ballooning as well. We've seen 392 00:19:52,119 --> 00:19:55,359 Speaker 1: the incarceration rate go up. I mean, think about that, 393 00:19:55,400 --> 00:19:58,400 Speaker 1: the incarceration rate. Why, well, because when it's harder to live, 394 00:19:59,080 --> 00:20:01,640 Speaker 1: when my cost of living goes down, then maybe I'll 395 00:20:01,640 --> 00:20:04,919 Speaker 1: turn to stealing and theft. Maybe because I'm growing up 396 00:20:04,960 --> 00:20:07,680 Speaker 1: without parents at home and I'm just left to fend 397 00:20:07,720 --> 00:20:10,760 Speaker 1: for myself, I join gangs and things like that, and 398 00:20:10,800 --> 00:20:15,520 Speaker 1: so this starts to break down society. And I know 399 00:20:15,560 --> 00:20:17,639 Speaker 1: that goes a little bit deep philosophically, but you have 400 00:20:17,680 --> 00:20:19,560 Speaker 1: to kind of think about how big of an impact 401 00:20:19,560 --> 00:20:23,760 Speaker 1: these things have. I like to think of it like 402 00:20:23,920 --> 00:20:27,040 Speaker 1: a tree. So that's sort of the way I describe it. 403 00:20:27,040 --> 00:20:28,840 Speaker 1: If you think of like this giant oak tree that 404 00:20:28,880 --> 00:20:31,520 Speaker 1: maybe has like thousands of leaves on it, and we 405 00:20:31,560 --> 00:20:33,240 Speaker 1: could sit there on this oak tree and I could 406 00:20:33,240 --> 00:20:36,679 Speaker 1: pull one leave at a time, and each leave represents 407 00:20:36,680 --> 00:20:41,680 Speaker 1: like one problem in society, the obesity rate, the incarceration rate, 408 00:20:42,280 --> 00:20:44,920 Speaker 1: the theft you know, the theft rate, murder rate, any 409 00:20:44,960 --> 00:20:49,000 Speaker 1: of these things, and each of these leaves is a problem. 410 00:20:49,040 --> 00:20:51,280 Speaker 1: But they are all attached to a tree, and at 411 00:20:51,280 --> 00:20:54,040 Speaker 1: the bottom of the tree is a root, and at 412 00:20:54,119 --> 00:20:57,520 Speaker 1: that root sits the money printer. The ability for the 413 00:20:57,520 --> 00:21:00,159 Speaker 1: government to just print in less amounts of money in 414 00:21:00,240 --> 00:21:03,520 Speaker 1: this fiat debt based monetary system that we're in creates 415 00:21:03,680 --> 00:21:07,320 Speaker 1: all these distortions that we have, including, like I said, 416 00:21:07,359 --> 00:21:10,240 Speaker 1: even the obesity rate, so why the obesity rate, Well, 417 00:21:10,600 --> 00:21:13,880 Speaker 1: because good food is too expensive. People can't afford that. 418 00:21:14,080 --> 00:21:16,280 Speaker 1: Now we've got to make cheaper food. In order to 419 00:21:16,280 --> 00:21:17,760 Speaker 1: make cheaper food, we have to come up with all 420 00:21:17,800 --> 00:21:20,960 Speaker 1: types of fillers and fake ingredients to put in there. 421 00:21:21,040 --> 00:21:25,160 Speaker 1: Then it causes all types of health problems. Each one 422 00:21:25,200 --> 00:21:27,680 Speaker 1: of those leaves on the tree goes back to the route. 423 00:21:28,080 --> 00:21:31,480 Speaker 1: But it also changed what we know as money. And 424 00:21:31,520 --> 00:21:34,720 Speaker 1: this is a very key piece, especially if you want 425 00:21:34,720 --> 00:21:36,000 Speaker 1: to get more money in your life, you need to 426 00:21:36,040 --> 00:21:38,920 Speaker 1: understand this. If you're going to play a game, you'd 427 00:21:39,040 --> 00:21:41,280 Speaker 1: want to know what the game is and how it 428 00:21:41,320 --> 00:21:43,000 Speaker 1: works and what the rules are and things like that. 429 00:21:43,040 --> 00:21:45,960 Speaker 1: And so we live in what's called a debt based 430 00:21:46,040 --> 00:21:48,840 Speaker 1: monetary system. So we went from a money system that 431 00:21:48,920 --> 00:21:51,680 Speaker 1: was based off of a commodity where gold would have 432 00:21:51,800 --> 00:21:54,920 Speaker 1: been money a commodity, to now just this free floating 433 00:21:54,960 --> 00:21:57,600 Speaker 1: currency that's based off of debt. And so we talk 434 00:21:57,640 --> 00:21:59,960 Speaker 1: about the central banks printing money money printer go burg, 435 00:22:00,400 --> 00:22:01,840 Speaker 1: which is kind of like a fun meme, but it's 436 00:22:01,880 --> 00:22:03,840 Speaker 1: not really how it works. Right, the central banks create 437 00:22:03,880 --> 00:22:07,119 Speaker 1: the monetary policy, but the banks create money through lending. 438 00:22:07,359 --> 00:22:09,280 Speaker 1: When you take a loan for a house, a car, 439 00:22:09,359 --> 00:22:13,200 Speaker 1: a boat, whatever, that money is created into existence or 440 00:22:13,240 --> 00:22:16,080 Speaker 1: in a debt based monetary system. Now, there's a couple 441 00:22:16,040 --> 00:22:17,639 Speaker 1: of things that that means. One, it means that if 442 00:22:17,640 --> 00:22:18,800 Speaker 1: you want to get really rich, you got to use 443 00:22:18,840 --> 00:22:22,520 Speaker 1: a lot of debt because the money is created through debt. 444 00:22:22,920 --> 00:22:25,560 Speaker 1: Meaning when you go get a loan to go buy 445 00:22:25,640 --> 00:22:28,080 Speaker 1: a new investment, property or whatever that may be, that 446 00:22:28,160 --> 00:22:31,399 Speaker 1: money is created for you. So the more debt you 447 00:22:31,440 --> 00:22:34,480 Speaker 1: can take on, the more money is created on your behalf. 448 00:22:36,560 --> 00:22:39,199 Speaker 1: So you have to understand how that works. But what 449 00:22:39,240 --> 00:22:42,160 Speaker 1: it also means is that when you take on debt, 450 00:22:42,200 --> 00:22:43,920 Speaker 1: we'd like to call that like a leverage. I can 451 00:22:44,040 --> 00:22:46,439 Speaker 1: leverage these assets by taking debt to get them. The 452 00:22:46,480 --> 00:22:49,680 Speaker 1: problem leverages could be really good. It helps me grow 453 00:22:49,720 --> 00:22:52,200 Speaker 1: way faster. If I am starting a business, I can 454 00:22:52,240 --> 00:22:55,000 Speaker 1: go get a loan and buy three new service trucks 455 00:22:55,160 --> 00:22:56,600 Speaker 1: so I can get my crews going out and to 456 00:22:56,640 --> 00:22:59,920 Speaker 1: fix people's houses, and I can grow my business faster 457 00:23:00,000 --> 00:23:04,000 Speaker 1: because I can leverage the debt. But leverage works both ways. 458 00:23:04,160 --> 00:23:06,359 Speaker 1: So I like to think of leverage as like fire. 459 00:23:06,520 --> 00:23:08,320 Speaker 1: I can warm my house, I can cook my food, 460 00:23:08,359 --> 00:23:11,560 Speaker 1: but it can also burn my house down. And so 461 00:23:13,480 --> 00:23:15,840 Speaker 1: just as fast as the economy grows with debt, it 462 00:23:15,840 --> 00:23:18,240 Speaker 1: can also be torn back down. And what we're seeing 463 00:23:18,600 --> 00:23:21,080 Speaker 1: is the governments of the world are using debt to 464 00:23:21,200 --> 00:23:24,080 Speaker 1: try to stimulate the economy. The United States, we just 465 00:23:24,119 --> 00:23:26,520 Speaker 1: had our debt ceiling debate, you know, a month or 466 00:23:26,520 --> 00:23:29,800 Speaker 1: two ago, and of course they agreed to not reduce 467 00:23:29,880 --> 00:23:32,639 Speaker 1: the debt, to not reduce the spending. And as a 468 00:23:32,640 --> 00:23:35,480 Speaker 1: matter of fact, all the spending increases that happened after 469 00:23:35,480 --> 00:23:37,600 Speaker 1: the pandemic, going from about four point eight trillion to 470 00:23:37,640 --> 00:23:40,800 Speaker 1: about six point five trillion, is that's now baked in. 471 00:23:40,880 --> 00:23:43,520 Speaker 1: That's the new level that we'll be spending at. And 472 00:23:43,520 --> 00:23:45,840 Speaker 1: so it requires massive amounts of debt to do that 473 00:23:46,320 --> 00:23:49,000 Speaker 1: in order to continue to kind of goose the economy, 474 00:23:49,000 --> 00:23:51,359 Speaker 1: to continue to get the economy to grow. But the 475 00:23:51,400 --> 00:23:53,760 Speaker 1: problem is is that now we're in the system that 476 00:23:54,359 --> 00:23:57,000 Speaker 1: the debt always has to continue to grow. You might 477 00:23:57,040 --> 00:23:59,360 Speaker 1: have heard you can't taper a Ponzi scheme. So we're 478 00:23:59,359 --> 00:24:01,760 Speaker 1: sort of like in this Ponzi scheme where even President 479 00:24:01,760 --> 00:24:05,760 Speaker 1: Biden himself said it is that the US can't default 480 00:24:05,760 --> 00:24:08,480 Speaker 1: on its debt. The US always pays its bills. This 481 00:24:08,600 --> 00:24:10,800 Speaker 1: is in the Debt Center debate. They have to increase 482 00:24:10,800 --> 00:24:13,240 Speaker 1: the debt ceiling so we don't default on our debt. 483 00:24:14,520 --> 00:24:16,440 Speaker 1: But so what he's saying is we have to take 484 00:24:16,480 --> 00:24:19,440 Speaker 1: on more debt to pay off the existing debt, sort 485 00:24:19,480 --> 00:24:21,240 Speaker 1: of like a Ponzi scheme. And so we're in a 486 00:24:21,240 --> 00:24:25,320 Speaker 1: system that can't be tapered. But this is how we 487 00:24:25,400 --> 00:24:27,199 Speaker 1: loot from each other. It's how we steal from each other. 488 00:24:27,200 --> 00:24:29,000 Speaker 1: Like I said, this is how they steal. But it's 489 00:24:29,000 --> 00:24:32,280 Speaker 1: also how the system is destroyed. So there's a quote 490 00:24:32,280 --> 00:24:35,840 Speaker 1: from Vladimir Lenin, you know the I don't know, the 491 00:24:35,960 --> 00:24:39,200 Speaker 1: leader of Russia, And of course he was not a capitalist, 492 00:24:39,200 --> 00:24:41,920 Speaker 1: he was a communist, and he said that the best 493 00:24:41,960 --> 00:24:44,840 Speaker 1: way to destroy capitalism, which you want to destroy that system, 494 00:24:45,000 --> 00:24:48,720 Speaker 1: would be to debouch the currency, would be to destroy it. Well, 495 00:24:48,760 --> 00:24:50,920 Speaker 1: how did he say you destroy it? Said destroy capitalism 496 00:24:50,960 --> 00:24:56,040 Speaker 1: by debudging the currency through inflation. So through series of inflation, 497 00:24:56,080 --> 00:24:59,040 Speaker 1: you can arbitrarily steal the money, is what he said. 498 00:24:59,400 --> 00:25:02,560 Speaker 1: And then you can change the relationship of money to 499 00:25:02,640 --> 00:25:06,000 Speaker 1: the point that it's lost. The relationship is lost, and 500 00:25:06,040 --> 00:25:09,479 Speaker 1: the best way to get riches through gambling and theft, 501 00:25:09,600 --> 00:25:12,360 Speaker 1: and so that's what we see today, lots of stealing 502 00:25:12,960 --> 00:25:15,760 Speaker 1: and lots of gambling. So today the hot thing is, 503 00:25:16,080 --> 00:25:19,920 Speaker 1: you know, trading. It was trading cryptocurrencies or trading options 504 00:25:19,920 --> 00:25:22,760 Speaker 1: on robin Hood, you know, now you're trading AI stocks whatever. 505 00:25:22,760 --> 00:25:26,920 Speaker 1: Everyone's trying to gamble. You know. I coach people through 506 00:25:26,920 --> 00:25:29,560 Speaker 1: their investing process that try to help them come up with, 507 00:25:30,000 --> 00:25:32,760 Speaker 1: you know, good decisions to make, but they always want 508 00:25:32,800 --> 00:25:36,320 Speaker 1: to come back with the best way to gamble, like 509 00:25:36,440 --> 00:25:37,959 Speaker 1: go to Vegas if you want to do that. But 510 00:25:38,400 --> 00:25:41,800 Speaker 1: investing has now turned into gambling because that's what's happened 511 00:25:41,800 --> 00:25:45,159 Speaker 1: to the currency system. And we constantly see new scams 512 00:25:45,359 --> 00:25:48,040 Speaker 1: and new schemes popping up over and over and over 513 00:25:48,680 --> 00:25:50,680 Speaker 1: because the best way to get rich is through gambling. 514 00:25:50,920 --> 00:25:53,680 Speaker 1: At least that's that's how it looks. And I guess 515 00:25:53,720 --> 00:25:55,440 Speaker 1: you got to do something because the cost of living 516 00:25:55,520 --> 00:25:57,800 Speaker 1: is going up so fast that you could barely keep 517 00:25:57,800 --> 00:26:02,840 Speaker 1: your head above water. So, for example, in nineteen seventy one, 518 00:26:03,359 --> 00:26:05,640 Speaker 1: if you would have bought what you could have bought 519 00:26:05,640 --> 00:26:08,320 Speaker 1: with one hundred dollars in nineteen seventy one, like a 520 00:26:08,359 --> 00:26:10,560 Speaker 1: basket of goods, how much you could buy in seventy 521 00:26:10,560 --> 00:26:13,080 Speaker 1: one, one hundred dollars would take seven hundred and twenty two 522 00:26:13,160 --> 00:26:18,800 Speaker 1: dollars today seven hundred and twenty two dollars. That's a 523 00:26:18,800 --> 00:26:25,159 Speaker 1: big deal. Median houses used to be oh new houses 524 00:26:25,480 --> 00:26:27,840 Speaker 1: nineteen seventy one were twenty five thousand. The average house 525 00:26:27,880 --> 00:26:33,240 Speaker 1: twenty five thousand, today five hundred thousand. It's a big deal. 526 00:26:33,520 --> 00:26:35,359 Speaker 1: How do you keep up with that? You have to 527 00:26:35,440 --> 00:26:39,040 Speaker 1: work harder, longer. You have to spend more time away 528 00:26:39,040 --> 00:26:43,400 Speaker 1: from your life and more time chasing money in order 529 00:26:43,440 --> 00:26:46,040 Speaker 1: to grow. We saw, I mean other things that have 530 00:26:46,119 --> 00:26:50,280 Speaker 1: shot up. The average car nineteen seventy one was thirty 531 00:26:50,280 --> 00:26:54,960 Speaker 1: five hundred dollars. The average tuition at Harvard was twenty 532 00:26:55,000 --> 00:26:58,639 Speaker 1: six hundred per year. I'm not sure what Harvard tuition is, 533 00:26:58,640 --> 00:27:01,080 Speaker 1: but the average tuition now is like over sixty thousand 534 00:27:01,080 --> 00:27:03,720 Speaker 1: a year, from twenty six hundred to six to twenty 535 00:27:03,720 --> 00:27:06,920 Speaker 1: six hundred to sixty thousand a year. A movie ticket 536 00:27:07,000 --> 00:27:10,160 Speaker 1: was a dollar fifty in nineteen seventy one. Today movie 537 00:27:10,160 --> 00:27:13,600 Speaker 1: ticket is at least fifteen dollars. In Los Angeles, you 538 00:27:13,640 --> 00:27:17,040 Speaker 1: I don't know where you're at. Gasoline was forty cents 539 00:27:17,119 --> 00:27:20,359 Speaker 1: a gallon, and today gas is over five dollars a 540 00:27:20,359 --> 00:27:22,840 Speaker 1: gallon in California. If you're tune in, you're listening to 541 00:27:22,840 --> 00:27:24,879 Speaker 1: the Markmas Show. We're talking about what happened fifty three 542 00:27:24,920 --> 00:27:28,040 Speaker 1: years ago when Richard Nixon changed money as we know it, 543 00:27:28,359 --> 00:27:31,240 Speaker 1: and all the problems that have been caused by that, 544 00:27:31,600 --> 00:27:34,199 Speaker 1: and what's happened since. Now. If you're tuned in, you're 545 00:27:34,200 --> 00:27:37,680 Speaker 1: listening to the Markmas Show, we're breaking down what happened 546 00:27:37,680 --> 00:27:40,600 Speaker 1: about fifty three years ago, how money as we know 547 00:27:40,720 --> 00:27:42,800 Speaker 1: it changed, and what are the effects of that, how 548 00:27:42,840 --> 00:27:44,560 Speaker 1: we protect ourselves. We'll be back with more in a minute. 549 00:27:44,560 --> 00:27:48,600 Speaker 1: Don't go away, bear back, all right, welcome back. If 550 00:27:48,600 --> 00:27:50,360 Speaker 1: you're just tune in, you're listening to the Mark Maas Show, 551 00:27:50,400 --> 00:27:54,560 Speaker 1: we're talking about what happened fifty three years ago when 552 00:27:55,640 --> 00:27:58,159 Speaker 1: the money system changed as we know it. I was 553 00:27:58,160 --> 00:28:01,560 Speaker 1: talking about how President Richard Nixon took the US dollar 554 00:28:01,720 --> 00:28:06,000 Speaker 1: off of a tether, off of a backing of gold, 555 00:28:06,080 --> 00:28:08,280 Speaker 1: of a commodity, and we're now we're in this free 556 00:28:08,280 --> 00:28:12,439 Speaker 1: floating currency that's a debt based monetary system. I was 557 00:28:12,480 --> 00:28:16,480 Speaker 1: talking with someone a few nights ago and they were saying, yeah, 558 00:28:16,480 --> 00:28:19,400 Speaker 1: but don't you realize that debt is actually the oldest 559 00:28:19,560 --> 00:28:24,760 Speaker 1: money that we've ever had, because we've you know, we've 560 00:28:24,760 --> 00:28:26,879 Speaker 1: had lots of currencies. Before the dollar was the pound, 561 00:28:26,960 --> 00:28:30,040 Speaker 1: you know. Before before that, it was you know, different 562 00:28:30,080 --> 00:28:33,480 Speaker 1: different different currencies by Spain, by the Netherlands. Before that, 563 00:28:33,520 --> 00:28:35,680 Speaker 1: we had rocks and feathers. There's lots of things that 564 00:28:35,680 --> 00:28:38,560 Speaker 1: have been money. But he said, actually the oldest form 565 00:28:38,600 --> 00:28:41,480 Speaker 1: of money is debt. It's not new. So he's saying, 566 00:28:41,480 --> 00:28:43,840 Speaker 1: you're making the case that this debt based system is new, 567 00:28:44,120 --> 00:28:46,280 Speaker 1: but debt is actually the oldest system in the world. 568 00:28:47,040 --> 00:28:49,720 Speaker 1: So what does he mean by that? So first of all, 569 00:28:49,760 --> 00:28:53,120 Speaker 1: I would agree with him, but there's some nuance that 570 00:28:53,200 --> 00:28:55,720 Speaker 1: he's lacking, and you're lacking potentially if you don't understand this. 571 00:28:56,200 --> 00:28:59,440 Speaker 1: So what what he's saying is before rocks and feathers 572 00:28:59,440 --> 00:29:02,560 Speaker 1: and seashell, I might come over to your field and 573 00:29:02,640 --> 00:29:05,960 Speaker 1: help you plow your field in exchange for you coming 574 00:29:06,040 --> 00:29:09,880 Speaker 1: and helping me plow my field later. So I've extended 575 00:29:09,880 --> 00:29:13,640 Speaker 1: you my labor on credit knowing that you're going to 576 00:29:13,680 --> 00:29:16,680 Speaker 1: give me labor back. Let's say that I had my 577 00:29:17,040 --> 00:29:20,239 Speaker 1: I had my harvest, and I decide that I'm going 578 00:29:20,320 --> 00:29:24,200 Speaker 1: to give you. I'm going to loan you some of 579 00:29:24,240 --> 00:29:27,720 Speaker 1: my crop that's on credit, and you're going to give 580 00:29:27,760 --> 00:29:30,160 Speaker 1: me back some of your chickens when they hatch later. 581 00:29:30,720 --> 00:29:34,520 Speaker 1: All right, So that's you might consider it a barter system, 582 00:29:34,560 --> 00:29:36,880 Speaker 1: but maybe it wasn't always one. For one. Maybe it's 583 00:29:36,960 --> 00:29:39,360 Speaker 1: I give you the crops today, you give me the 584 00:29:39,440 --> 00:29:43,040 Speaker 1: chickens later. So he's absolutely right that debt was the 585 00:29:43,080 --> 00:29:45,800 Speaker 1: first system. But the reason why that's different than the 586 00:29:45,800 --> 00:29:47,880 Speaker 1: system that we have today is because there's two types 587 00:29:47,920 --> 00:29:51,080 Speaker 1: of credit. Ludwig buon Misis, one of the fathers of 588 00:29:51,120 --> 00:29:54,400 Speaker 1: the Austrian school of economics, wrote this out and he 589 00:29:54,480 --> 00:29:57,800 Speaker 1: talked about the differences of credit, one being circulation credit 590 00:29:58,160 --> 00:30:01,960 Speaker 1: and one being commodity credit. All right, So commodity credit 591 00:30:02,240 --> 00:30:04,320 Speaker 1: is when I give you credit on a commodity on 592 00:30:04,360 --> 00:30:08,320 Speaker 1: something real. So for example, I create the crops, I 593 00:30:08,880 --> 00:30:11,320 Speaker 1: plant them, I grow them, I harvest them. I have 594 00:30:11,360 --> 00:30:14,800 Speaker 1: a commodity, the wheat, and I give you some. So 595 00:30:14,840 --> 00:30:16,880 Speaker 1: I say I have ten bushels of wheat, I sell 596 00:30:16,960 --> 00:30:20,440 Speaker 1: eight bushels of the wheat, and I give you two 597 00:30:20,560 --> 00:30:24,400 Speaker 1: on credit. Okay, that's commodity credit. And the reason why 598 00:30:24,400 --> 00:30:28,040 Speaker 1: that's important to understand is because that's credit based off 599 00:30:28,080 --> 00:30:33,200 Speaker 1: of me withholding. I went without, so you could have 600 00:30:34,440 --> 00:30:39,800 Speaker 1: I've delayed my gratification in order for future gratification. All right, 601 00:30:40,080 --> 00:30:42,960 Speaker 1: that's commodity credit. And so he's absolutely right. We credit 602 00:30:43,000 --> 00:30:45,560 Speaker 1: does predate it, but it was all commodity credit. And 603 00:30:45,600 --> 00:30:47,040 Speaker 1: the reason why it's important is, like I said, it 604 00:30:47,080 --> 00:30:50,200 Speaker 1: comes from real assets, it comes from savings, it comes 605 00:30:50,200 --> 00:30:53,640 Speaker 1: from me delaying the gratification that I want. The problem 606 00:30:53,640 --> 00:30:56,160 Speaker 1: that we have today is we're not using commodity credit more. 607 00:30:56,200 --> 00:30:59,600 Speaker 1: Now we use what's called circulating credit, as Mesis calls it. 608 00:31:00,040 --> 00:31:02,000 Speaker 1: And so what that means is that now the government 609 00:31:02,280 --> 00:31:05,600 Speaker 1: or not the government specifically the banks create the circulation 610 00:31:05,680 --> 00:31:08,120 Speaker 1: credit when you want to buy the house, to car, 611 00:31:08,160 --> 00:31:10,920 Speaker 1: the pote et cetera. And that money is created into existence. 612 00:31:11,120 --> 00:31:16,240 Speaker 1: But that money did not come from anybody withholding. That 613 00:31:16,400 --> 00:31:19,200 Speaker 1: so it'd be one thing if I made I bought 614 00:31:19,200 --> 00:31:22,680 Speaker 1: two cars. I don't really need two cars anymore. So 615 00:31:22,840 --> 00:31:25,040 Speaker 1: here you go ahead and take one of these cars 616 00:31:25,080 --> 00:31:27,000 Speaker 1: on credit, Just pay me five hundred bucks a month 617 00:31:27,040 --> 00:31:32,040 Speaker 1: for it. That came from me expending real assets, and 618 00:31:32,160 --> 00:31:35,920 Speaker 1: I'm given a c by me withholding it versus them 619 00:31:36,000 --> 00:31:37,920 Speaker 1: printing the money and creating it out of thin air. 620 00:31:38,160 --> 00:31:40,880 Speaker 1: And what that does, that pulls the value from the future. 621 00:31:41,880 --> 00:31:44,280 Speaker 1: So it's a big difference. It's a really, really big difference. 622 00:31:44,320 --> 00:31:47,360 Speaker 1: So what one of the big differences. There's a lot 623 00:31:47,360 --> 00:31:48,920 Speaker 1: of differences, but one of the big differences, as I 624 00:31:48,920 --> 00:31:51,120 Speaker 1: set up into how do we protect ourselves, is that 625 00:31:51,480 --> 00:31:55,320 Speaker 1: as they continue to print more currency units through issuing debt, 626 00:31:56,440 --> 00:31:59,760 Speaker 1: the supply of those currency units, the amount of dollars 627 00:31:59,800 --> 00:32:02,760 Speaker 1: in existence goes up, and that's inflation. Like a balloon. 628 00:32:04,000 --> 00:32:06,560 Speaker 1: If I blow up a balloon, I'm increasing the volume 629 00:32:06,560 --> 00:32:09,400 Speaker 1: of air in that balloon. When they print money through debt, 630 00:32:09,600 --> 00:32:16,240 Speaker 1: they increase the volume of currency in the circulation. What 631 00:32:16,320 --> 00:32:19,880 Speaker 1: that does is more dollars in circulation then lowers the 632 00:32:19,920 --> 00:32:23,760 Speaker 1: purchasing power of those currency units. The prices go up 633 00:32:24,880 --> 00:32:26,960 Speaker 1: and the value of those dollars go down. It's an 634 00:32:26,960 --> 00:32:31,000 Speaker 1: inverse relationship. And so every time they do that, my 635 00:32:31,160 --> 00:32:33,520 Speaker 1: existing dollars go down, My purchasing power goes down. So 636 00:32:33,560 --> 00:32:37,560 Speaker 1: what do we do about that? Well, we have to 637 00:32:37,600 --> 00:32:41,240 Speaker 1: figure out a way where our savings can go up 638 00:32:41,240 --> 00:32:46,680 Speaker 1: with or hopefully beat inflation, so they're stealing. The stated 639 00:32:46,720 --> 00:32:50,120 Speaker 1: goal is to only steal two percent per year. Maybe 640 00:32:50,120 --> 00:32:51,800 Speaker 1: we don't care too much if they steal two percent 641 00:32:51,800 --> 00:32:56,200 Speaker 1: per year. Of course we know inflation. CPI measures measure inflation. 642 00:32:56,280 --> 00:32:59,600 Speaker 1: Consumer Price Index got up to nine percent, so they 643 00:32:59,600 --> 00:33:01,680 Speaker 1: weigh over the goals. Now you're losing nine percent of 644 00:33:01,680 --> 00:33:03,600 Speaker 1: your wealth. Now that's not too bad in the United States. 645 00:33:04,240 --> 00:33:09,320 Speaker 1: In Argentina, they're losing triple digit inflation. It's like one 646 00:33:09,400 --> 00:33:12,000 Speaker 1: hundred and twelve percent or one hundred and fifteen percent 647 00:33:12,000 --> 00:33:14,520 Speaker 1: of know changes all the time per year. That's how 648 00:33:14,560 --> 00:33:18,040 Speaker 1: much the government's stealing through this inflation. But Andy, it's 649 00:33:18,080 --> 00:33:20,040 Speaker 1: not so bad. Two percent is the target right now 650 00:33:20,040 --> 00:33:23,640 Speaker 1: we're at just low over three. Well, that's the reported numbers. 651 00:33:23,640 --> 00:33:26,120 Speaker 1: If you believe that that's all they want to steal, 652 00:33:26,200 --> 00:33:28,120 Speaker 1: so then I have to make sure that my wealth 653 00:33:28,160 --> 00:33:30,880 Speaker 1: is growing faster than the rate that they're stealing it. 654 00:33:30,880 --> 00:33:32,880 Speaker 1: It's like sort of like you have a bucket full 655 00:33:32,880 --> 00:33:34,480 Speaker 1: of water and you have a hole at the bottom 656 00:33:34,520 --> 00:33:37,120 Speaker 1: of the bucket. How big is that hole? How much 657 00:33:37,240 --> 00:33:39,120 Speaker 1: water's going out? If it's a pin hole and it's 658 00:33:39,160 --> 00:33:42,040 Speaker 1: slowly leaking, or maybe it's a little tiny hole and 659 00:33:42,040 --> 00:33:43,520 Speaker 1: it's leaking a little bit faster. But I have a 660 00:33:43,560 --> 00:33:46,720 Speaker 1: hose going at the top. It's okay, I'm filling it 661 00:33:46,800 --> 00:33:49,360 Speaker 1: up faster than it's leaking. But the problem is when 662 00:33:49,360 --> 00:33:51,080 Speaker 1: that hole is too big and it's not coming in 663 00:33:51,120 --> 00:33:53,400 Speaker 1: fast enough. So how do we do that? Well, One, 664 00:33:53,520 --> 00:33:55,360 Speaker 1: you need to make sure that you're making income that 665 00:33:55,440 --> 00:33:58,239 Speaker 1: can meet or exceed the cost of inflation. Now, if 666 00:33:58,280 --> 00:34:00,160 Speaker 1: you're working for a wage, as we talked about, a 667 00:34:00,160 --> 00:34:02,160 Speaker 1: lot of weight just haven't kept up with inflation. That's 668 00:34:02,160 --> 00:34:06,360 Speaker 1: a big problem. If you have a business, most likely 669 00:34:06,480 --> 00:34:08,640 Speaker 1: you're able to increase your prices at your business to 670 00:34:08,719 --> 00:34:10,840 Speaker 1: keep up with inflation. So you're able to control that 671 00:34:10,960 --> 00:34:13,960 Speaker 1: a little bit. Through investments. We can also invest in 672 00:34:14,000 --> 00:34:16,080 Speaker 1: ways that can keep up with inflation. So for example, 673 00:34:16,080 --> 00:34:19,279 Speaker 1: if I invest into rental properties, I can continue to 674 00:34:19,360 --> 00:34:22,319 Speaker 1: raise my rents, so my rents continue to go up 675 00:34:22,360 --> 00:34:24,359 Speaker 1: as inflation goes up. So you want to make sure 676 00:34:24,360 --> 00:34:28,400 Speaker 1: that your where you get your income from, first of all, 677 00:34:28,640 --> 00:34:31,600 Speaker 1: can keep up with inflation. Then when I put my 678 00:34:31,800 --> 00:34:35,200 Speaker 1: money that I've earned into savings or you'd call them investments, 679 00:34:35,200 --> 00:34:37,560 Speaker 1: I want to make sure those investments go up Now 680 00:34:38,680 --> 00:34:41,240 Speaker 1: if you think about it, if I'm storing it in dollars, 681 00:34:41,280 --> 00:34:44,000 Speaker 1: but they're continuing to print more, those dollars I'm saving 682 00:34:44,040 --> 00:34:46,800 Speaker 1: are losing two percent a year. Something like bitcoin, on 683 00:34:46,840 --> 00:34:49,399 Speaker 1: the other hand, has no inflation, so there will never 684 00:34:49,440 --> 00:34:52,000 Speaker 1: be more than twenty one million, so there's no leaking. 685 00:34:52,080 --> 00:34:54,319 Speaker 1: It's like a battery that can store my wealth that 686 00:34:54,400 --> 00:34:57,040 Speaker 1: doesn't leak. It's like a bucket I can store my 687 00:34:57,080 --> 00:34:59,400 Speaker 1: water that doesn't have a hole in it, So that's better. 688 00:35:00,000 --> 00:35:01,920 Speaker 1: I want to be in assets that can go up 689 00:35:01,920 --> 00:35:05,800 Speaker 1: with inflation or you know, more specifically beat the cost 690 00:35:05,800 --> 00:35:10,080 Speaker 1: of inflation. It's the only way to do that. Now, 691 00:35:10,160 --> 00:35:12,399 Speaker 1: some other ways that we could do this. Obviously that's 692 00:35:12,680 --> 00:35:14,920 Speaker 1: kind of selfishly back to kind of like protecting myself, 693 00:35:14,960 --> 00:35:18,239 Speaker 1: my friends, my family. On a bigger scale, we can 694 00:35:18,280 --> 00:35:21,480 Speaker 1: continue to talk about these types of subjects. Take what 695 00:35:21,520 --> 00:35:25,200 Speaker 1: you've learned today, go discuss it with somebody, create awareness 696 00:35:25,239 --> 00:35:28,880 Speaker 1: around it. Maybe we can change the bigger picture. Maybe 697 00:35:28,960 --> 00:35:30,960 Speaker 1: we can take some of this and take it to 698 00:35:30,960 --> 00:35:35,040 Speaker 1: take it to the elections. These next elections we have 699 00:35:35,200 --> 00:35:38,359 Speaker 1: you know, Biden and Trump running. Neither one of them 700 00:35:38,400 --> 00:35:40,840 Speaker 1: probably want to do anything about what's happening with inflation. 701 00:35:41,120 --> 00:35:44,280 Speaker 1: Trump leaned on the Fed just as hard as Biden 702 00:35:44,320 --> 00:35:46,600 Speaker 1: had to print more money. But we do have candidates 703 00:35:46,640 --> 00:35:50,520 Speaker 1: like Vivid Ramaswami on the right, RFK Junior on the 704 00:35:50,560 --> 00:35:53,720 Speaker 1: left who are talking about going back to sound monetary 705 00:35:53,719 --> 00:35:57,080 Speaker 1: and fiscal policies. Even RFK is talking about backing the 706 00:35:57,160 --> 00:35:59,680 Speaker 1: dollar with some gold and bitcoin at some point. So 707 00:36:00,040 --> 00:36:01,959 Speaker 1: another way is to continue to talk about these ideas, 708 00:36:02,000 --> 00:36:05,080 Speaker 1: continue to create awareness about these ideas, and try, even 709 00:36:05,120 --> 00:36:07,359 Speaker 1: though maybe it's a little bit discouraging, try our best 710 00:36:07,560 --> 00:36:10,439 Speaker 1: to maybe also influence things on the political scale. Now 711 00:36:10,719 --> 00:36:12,800 Speaker 1: we have some hope because we can see in Argentina, 712 00:36:12,840 --> 00:36:15,120 Speaker 1: and going back to Argentina, their pain is very high 713 00:36:15,120 --> 00:36:17,240 Speaker 1: because inflation is so high. But they have a candidate 714 00:36:17,320 --> 00:36:20,480 Speaker 1: right now leading the polls who's running on a platform 715 00:36:20,680 --> 00:36:23,399 Speaker 1: to get rid of the central Bank, to stop printing money, 716 00:36:23,480 --> 00:36:26,560 Speaker 1: to go back to a sound money standard. And if 717 00:36:26,600 --> 00:36:29,680 Speaker 1: they can vote themselves that, then I think there's hope 718 00:36:29,680 --> 00:36:31,640 Speaker 1: for us in the United States. And I say that 719 00:36:31,760 --> 00:36:35,319 Speaker 1: because there's a quote. Democracy can't exist as a permanent 720 00:36:35,400 --> 00:36:38,160 Speaker 1: form of government because people always vote themselves more the 721 00:36:38,160 --> 00:36:40,840 Speaker 1: majority always votes for the candidate promising the most benefits. 722 00:36:40,920 --> 00:36:42,759 Speaker 1: I believe that to be true, except for what we're 723 00:36:42,760 --> 00:36:46,280 Speaker 1: seeing in Argentina is actually the opposite. They're actually voting 724 00:36:46,320 --> 00:36:49,359 Speaker 1: for a candidate running on a platform to stop all 725 00:36:49,360 --> 00:36:52,280 Speaker 1: this government spending. So that's how we protect ourselves. Hopefully 726 00:36:52,280 --> 00:36:53,680 Speaker 1: that makes sense. If you're just tune in, you're listening 727 00:36:53,760 --> 00:36:55,200 Speaker 1: to the Mark Ma Show. If you've missed any of this, 728 00:36:55,440 --> 00:36:57,120 Speaker 1: you can catch me on the podcast. Just so. Go 729 00:36:57,160 --> 00:36:59,240 Speaker 1: search the Mark Ma Show and your favorite podcast player. 730 00:36:59,440 --> 00:37:02,319 Speaker 1: Go to YouTube Ube to the Market Disruptors channel. You 731 00:37:02,360 --> 00:37:04,239 Speaker 1: can watch me. You can listen to me there as well. 732 00:37:04,480 --> 00:37:06,520 Speaker 1: That's all I have right now, Thanks so much for listening.