WEBVTT - The Mark Moss Show Nov 03, 2021 0:00:00.200 --> 0:00:02.800 Hey, everyone, welcome to the Mark Moa Show where I 0:00:02.840 --> 0:00:08.040 am talking about bitcoin and cryptocurrencies and this decentralized revolution 0:00:08.080 --> 0:00:13.120 that we are witnessing. We're living through it, you know. Um, 0:00:13.200 --> 0:00:15.840 it's probably you know, most people think about, you know, 0:00:15.920 --> 0:00:18.799 what's happened throughout their lives, and then you kind of 0:00:18.800 --> 0:00:21.160 compare that to history books. And of course history books 0:00:21.160 --> 0:00:23.799 are full of these big moments, like you know, the 0:00:23.840 --> 0:00:27.640 American Revolution and the Civil War and um, you know 0:00:27.720 --> 0:00:30.840 Martin Luther King or JFK or whatever it may be, 0:00:31.440 --> 0:00:34.120 and like, you know, what's going on in our lifetime, 0:00:35.200 --> 0:00:37.880 and so you don't really you know, you don't really 0:00:37.960 --> 0:00:40.240 notice it. It's kind of like maybe the frog and 0:00:40.280 --> 0:00:42.960 the boiling pot of water. But I'm here to tell 0:00:42.960 --> 0:00:48.159 you that we are literally living through the biggest shift 0:00:48.800 --> 0:00:52.479 that humanity has ever seen. We're seeing the entire world 0:00:52.680 --> 0:00:56.560 change right before our very eyes and kind of like 0:00:56.560 --> 0:00:59.200 watching paint dry. You probably don't notice it, but it's happening. 0:00:59.720 --> 0:01:02.160 It's I want to bring to you the information so 0:01:02.240 --> 0:01:05.360 you notice it. Um. You know, there's a lot of 0:01:05.400 --> 0:01:09.800 volatility in this world today. Um, it's scary, you know, 0:01:09.840 --> 0:01:11.600 we don't know what's going to happen right. In times 0:01:11.600 --> 0:01:14.840 of this uncertainty, it's fear uncertainty and doubt. We call 0:01:14.880 --> 0:01:18.479 it FUD in the bitcoin space, fear uncertainty in doubt. 0:01:18.480 --> 0:01:19.920 And so there's a lot of fear in certainty in doubt, 0:01:20.880 --> 0:01:23.200 um and there, and and there's good reason for that, right. 0:01:23.200 --> 0:01:25.160 It's like when you don't know what the future holds, 0:01:25.240 --> 0:01:27.800 even if you're expecting something good to happen, there's still 0:01:27.840 --> 0:01:30.560 this anxiousness that sits there because you don't know what's 0:01:30.560 --> 0:01:35.520 gonna happen. And so I get that. But the thing 0:01:35.560 --> 0:01:40.880 to understand is that through times of volatility, typically there's well, 0:01:40.920 --> 0:01:44.280 you're anxious, and so there's two outcomes, right, You're anxious 0:01:44.319 --> 0:01:48.680 that things could go bad, um, and maybe you're hoping 0:01:48.720 --> 0:01:50.520 that things go good, right, And that's I guess those 0:01:50.520 --> 0:01:53.200 are two outcomes that you have. And I would say 0:01:53.240 --> 0:01:59.680 that in times of extreme volatility equal extremely bad outcomes 0:01:59.800 --> 0:02:05.640 or extremely good outcomes. And you personally listening to this 0:02:06.000 --> 0:02:08.400 right now, get to decide which side you want to 0:02:08.440 --> 0:02:10.680 be on. Do you want to be on the side 0:02:10.760 --> 0:02:14.200 that benefits from the volatility and has a better life, 0:02:14.480 --> 0:02:15.640 or do you want to be on the side that 0:02:15.960 --> 0:02:21.280 has disastrous outcome. You know, I think, um, the world 0:02:21.360 --> 0:02:23.600 is a scary place right now, and it can be depressing. 0:02:23.639 --> 0:02:26.800 I mean, especially if you're paying attention to you know, 0:02:26.960 --> 0:02:29.760 the government overreach and the loss of privacy and the 0:02:29.800 --> 0:02:33.760 loss of freedom, and the loss of private property, not 0:02:33.840 --> 0:02:35.960 just private property in a sense where they want to 0:02:36.000 --> 0:02:39.680 take away our money, right, take away our assets. They 0:02:39.720 --> 0:02:43.240 want to now tax are unrealized profits we haven't even 0:02:43.480 --> 0:02:46.320 we haven't even realized. I mean, our private property is 0:02:46.440 --> 0:02:52.240 one under attack, and not just our property, but at 0:02:52.280 --> 0:02:55.440 the at the base of all private property rights is 0:02:55.919 --> 0:03:02.760 individual private property rights, your own bodily autonomy. Without individual, 0:03:02.760 --> 0:03:06.560 Without the individual, there's nothing right. So it starts as 0:03:06.600 --> 0:03:10.680 an individual and individual rights, and then I would extend those. 0:03:10.680 --> 0:03:16.519 And so today even our own individual body is under attack, right, 0:03:16.560 --> 0:03:20.160 they're trying to take control of that, and so our 0:03:20.240 --> 0:03:24.400 our our private see, our property is under attack on 0:03:24.480 --> 0:03:27.200 every single level that we can see. And it's scary. 0:03:27.760 --> 0:03:29.519 And I know a lot of people want to ignore that. 0:03:30.200 --> 0:03:32.200 I don't want to pay attention, don't. I don't want to. 0:03:32.200 --> 0:03:33.600 I don't want to hear about politics. I hear that 0:03:33.639 --> 0:03:35.360 all the time, Like Mark, I listen to you for finance. 0:03:35.400 --> 0:03:37.640 I don't want to hear politics, but listen, if you 0:03:37.640 --> 0:03:40.120 don't understand the politics, you're not gonna understand the money 0:03:40.840 --> 0:03:46.120 because it's political decisions. It's politice decisions that are driving this. 0:03:47.400 --> 0:03:49.640 And I'm not gonna dig into politics deep today, So 0:03:49.680 --> 0:03:52.400 don't worry about that. We're talking about bitcoin. We're talking 0:03:52.400 --> 0:03:57.320 about the decentralized revolution. But but it does have something 0:03:57.360 --> 0:03:59.920 to do with that, because we're witnessing a game being 0:04:00.080 --> 0:04:02.720 played out on a global scale, on a global stage 0:04:03.320 --> 0:04:08.800 right now with bitcoin that is going to drastically change 0:04:08.880 --> 0:04:13.720 the entire way the map of the world is probably 0:04:13.800 --> 0:04:19.000 drawn up. And I mean that. And it can be 0:04:19.040 --> 0:04:20.640 a bad thing. It can be a scary thing because 0:04:20.640 --> 0:04:21.960 what's going to happen, but it can also be a 0:04:21.960 --> 0:04:23.880 good thing. And so I like to say that, you know, 0:04:24.000 --> 0:04:26.480 an ostrich can choose to bury its head in the sand, 0:04:27.200 --> 0:04:31.200 but it won't stop it from being eaten. So you 0:04:31.240 --> 0:04:34.520 can choose. My favorite author, Iron Rand says, well, I 0:04:34.520 --> 0:04:36.320 don't know she's my favorite, but one of one of 0:04:36.360 --> 0:04:39.200 my favorite authors. She says that you can choose to 0:04:39.240 --> 0:04:44.120 ignore reality, but you cannot ignore the consequences of reality, 0:04:44.120 --> 0:04:47.080 and so that's kind of where we're at. And I think, 0:04:47.200 --> 0:04:50.640 you know, as we see this volatility, we can choose 0:04:50.640 --> 0:04:51.880 to take advantage of it. And of course that's why 0:04:51.920 --> 0:04:53.520 I'm coming to you each and every week explained to 0:04:53.560 --> 0:04:58.000 you how big this revolution is. And as the world 0:04:58.120 --> 0:05:00.080 is getting scary and we're seeing our private property come 0:05:00.120 --> 0:05:03.560 under attack, I think it's easy to see that everywhere 0:05:03.560 --> 0:05:06.719 in the world at this point, we're seeing this very 0:05:06.760 --> 0:05:12.600 actually rapid move to authoritarianism. Now, um, if you're in 0:05:12.640 --> 0:05:15.919 Canada or Australia, listen to this, you're seeing it happen 0:05:16.160 --> 0:05:18.680 really really fast. If you're in China, you've already seen 0:05:18.720 --> 0:05:20.960 it happen. If you're in the United States, you're also 0:05:20.960 --> 0:05:23.080 witnessing happening. But it seems maybe a little bit slower. 0:05:24.480 --> 0:05:26.400 And we're getting to a point where technology is kind 0:05:26.400 --> 0:05:30.240 of creating this, giving these authoritarians these tools that they 0:05:30.240 --> 0:05:34.360 could have this permanent, um, you know, hold on us, 0:05:34.360 --> 0:05:36.880 where they could prevent us from getting information we need 0:05:36.960 --> 0:05:41.239 and communicating and and all these things. And so that's scary. 0:05:41.520 --> 0:05:43.680 But I think the only thing that breaks that trend 0:05:43.760 --> 0:05:45.840 towards with their attornism is not that they wake up 0:05:45.880 --> 0:05:49.440 one day and say, shoot, we have too much control, 0:05:49.920 --> 0:05:52.240 We have way too much power over people's lives. Why 0:05:52.240 --> 0:05:55.760 don't we just give some freedom back to them. If 0:05:55.800 --> 0:05:58.839 you think that's going to happen, well, then I don't know. 0:05:58.839 --> 0:06:00.200 What do they say? I have a bridge to tell 0:06:00.200 --> 0:06:03.280 you something like that. I don't think that's ever gonna happen. 0:06:03.880 --> 0:06:08.039 I believe what changes this trend towards authoritarianism is actually 0:06:08.080 --> 0:06:13.760 pretty simple. It's one thing. It's competition. You know that 0:06:13.800 --> 0:06:17.680 when businesses compete for you, you're always going to get 0:06:17.720 --> 0:06:20.400 better products, better service, and better prices. Right, if you 0:06:20.440 --> 0:06:23.279 go to the d m V, it's the worst place. 0:06:23.320 --> 0:06:25.320 It's the example. It's the example I give of the 0:06:25.360 --> 0:06:28.320 worst business that you can go to. And why is 0:06:28.360 --> 0:06:29.880 it the worst business that you can go to the 0:06:29.920 --> 0:06:32.240 Department of Motor Vehicles or maybe called different in your state? 0:06:32.560 --> 0:06:34.920 Why is it the worst place? Because there's no competition. 0:06:35.839 --> 0:06:38.360 It's the only place you can go. Their employees never 0:06:38.360 --> 0:06:40.200 get fired. They don't have to give you good product, 0:06:40.240 --> 0:06:43.640 service or prices, and so they don't. Now, if you're 0:06:43.640 --> 0:06:45.120 like me, if I can go to the Triple A, 0:06:45.160 --> 0:06:47.400 I'm gonna go there every time, and so whatever I 0:06:47.440 --> 0:06:49.960 can do, I'll go there because Triple A has competition 0:06:49.960 --> 0:06:51.719 and they want my business and to compete for that. 0:06:53.279 --> 0:06:57.599 And so if the world's trending towards authoritarianism totalitarianism, the 0:06:57.600 --> 0:06:59.120 only thing that breaks it not is they want to 0:06:59.120 --> 0:07:01.320 give it up, but they have their force to because 0:07:01.320 --> 0:07:03.840 of competition. We've seen this in the United States. Both 0:07:03.880 --> 0:07:06.919 California and New York were outcompeted by Texas and Florida, 0:07:07.200 --> 0:07:10.280 and both governors found themselves on the chopping block. One survived, 0:07:10.320 --> 0:07:12.680 one didn't. But we can see that plan now. But 0:07:12.720 --> 0:07:16.400 what about when nations, when governments start competing for each other, 0:07:17.240 --> 0:07:21.600 And that's exactly what's happening today, and bitcoin is causing 0:07:21.680 --> 0:07:27.160 those nations to compete. There are the two superpowers, China 0:07:27.360 --> 0:07:30.440 and the United States, probably the two of the biggest 0:07:30.440 --> 0:07:34.360 global superpowers today, and they both have two very different 0:07:34.360 --> 0:07:38.640 tales of bitcoin. And then we have smaller countries jumping 0:07:38.680 --> 0:07:43.120 in with bitcoin that I think are setting themselves up. Well, 0:07:43.600 --> 0:07:47.600 they're they're currently out competing the superpowers, and I believe 0:07:47.680 --> 0:07:50.880 that these they're out competing is going to set themselves 0:07:50.920 --> 0:07:54.880 up to have a massive advantage in the future. And 0:07:54.920 --> 0:07:57.560 it's interesting. You know, Um, if we if we were 0:07:57.560 --> 0:07:59.800 watching like a movie about the future, right when you 0:07:59.800 --> 0:08:02.760 go back in time, don't dont don't touch that thing, 0:08:02.800 --> 0:08:05.160 don't touch that thing. Want one small change in the 0:08:05.200 --> 0:08:08.880 past could drastically change the future, right, And so thinking 0:08:08.880 --> 0:08:11.520 about those those things, then you can also understand that 0:08:11.600 --> 0:08:15.480 one little change today could have massive changes in implications 0:08:15.480 --> 0:08:17.320 in the future. And that's exactly what we're talking about. 0:08:18.280 --> 0:08:22.160 China on the rise wanted to be the superpower. I 0:08:22.200 --> 0:08:26.040 think made what I'm calling their second fatal mistake, China's 0:08:26.120 --> 0:08:30.480 second fatal mistake. I think that fatal mistake was could 0:08:30.480 --> 0:08:35.280 be potentially could be the United States big break if 0:08:35.320 --> 0:08:38.600 they want to take it. Um, it's a little bit 0:08:38.640 --> 0:08:40.480 up in the air whether the United States will capitalize 0:08:40.480 --> 0:08:43.640 on the China's mistake or not. It's looking like they will, 0:08:43.760 --> 0:08:47.160 but it's also looking like our leadership might not want to. 0:08:47.640 --> 0:08:51.000 And then we have the smaller countries and mostly Central 0:08:51.040 --> 0:08:54.080 America that have jumped on this. And I'm talking about 0:08:54.080 --> 0:08:56.120 El Salvador. I mean, this is big, and so I 0:08:56.160 --> 0:08:58.800 want to explain what happened with El Salvador just this week. 0:08:59.640 --> 0:09:02.200 Now you probably know they made bitcoin legal tender a 0:09:02.200 --> 0:09:05.840 couple of months ago, last month actually, but even more 0:09:05.840 --> 0:09:07.600 stuff has been happening over last week. And I think 0:09:07.720 --> 0:09:10.240 understanding the tale of these three countries helps us understand 0:09:11.240 --> 0:09:14.120 what the geopolitical picture looks like in the world. And 0:09:14.120 --> 0:09:15.800 it's important for you to understand because I think this 0:09:15.840 --> 0:09:17.640 is what breaks the grip of this or this trend, 0:09:17.679 --> 0:09:19.400 I should say. So, I want to talk to you 0:09:19.400 --> 0:09:22.040 what China's second fatal mistake was. When I come back. 0:09:22.080 --> 0:09:24.360 You're listening to the Mark mass Show talking about bitcoin, 0:09:24.400 --> 0:09:28.040 cryptocurrencies and the decentralized revolution, bringing you the information that 0:09:28.080 --> 0:09:30.680 you need to benefit from it. I'll be right back, 0:09:31.000 --> 0:09:33.320 all right, welcome back. You are listening to the Mark 0:09:33.400 --> 0:09:37.640 ma Show, and I'm just sitting here, you know, bringing 0:09:37.640 --> 0:09:41.440 you the latest information on bitcoin, cryptocurrencies and whatnot. You know, 0:09:41.600 --> 0:09:44.360 nothing exciting, uh, you know, except unless you decide to 0:09:44.360 --> 0:09:47.400 take advantage of this information and change your life. Because 0:09:47.400 --> 0:09:51.559 that's exactly how big this opportunity is. So if you're 0:09:51.559 --> 0:09:53.160 listening to me on the radio right now, pull out 0:09:53.160 --> 0:09:56.240 your phone, set a calendar reminder, and make sure to 0:09:56.280 --> 0:09:58.440 tune in with me eating every week because it's going 0:09:58.480 --> 0:10:02.200 to be the most profitable time of your week, listening 0:10:02.200 --> 0:10:03.600 to me with me, hanging me, hanging out with me. 0:10:03.720 --> 0:10:06.120 If you're listening, by the way, I would love it 0:10:06.160 --> 0:10:07.840 if you would. Also, while you have your phone out, 0:10:08.120 --> 0:10:11.920 open up Twitter, open up Instagram. Find me one Mark Moss. 0:10:11.960 --> 0:10:13.800 That's right, one Mark Moss. That's just the number, one 0:10:13.880 --> 0:10:16.480 Mark Moss. Send me a message, tell me you heard 0:10:16.520 --> 0:10:19.880 me on the radio. And uh, at least tell me 0:10:19.920 --> 0:10:21.960 you heard me. And then if you can give me 0:10:22.000 --> 0:10:25.040 a follow, and even better at me send me a questions. 0:10:25.040 --> 0:10:26.360 I mean, send me a message. Love to hear it. 0:10:26.840 --> 0:10:29.840 But I was talking about, um, the Tale of three countries, 0:10:30.559 --> 0:10:32.680 and how all these changes that they've been doing lately 0:10:32.840 --> 0:10:36.599 could have massive global implications. They already are, but I 0:10:36.640 --> 0:10:38.480 think it's gonna be much much bigger in the future. 0:10:38.840 --> 0:10:40.480 And so I was talking about China being the superpower. 0:10:40.480 --> 0:10:42.800 I'm talking about the United States, UM, and I'm talking 0:10:42.800 --> 0:10:46.600 about al Salvador. So UM jump into China real quickly, UM. China. 0:10:46.640 --> 0:10:50.440 Second fatal mistake. To understand the second fatal mistake undered 0:10:50.440 --> 0:10:52.400 in the first fatal mistake. And so what I do 0:10:52.440 --> 0:10:55.400 is I go back about about a hundred and fifty 0:10:55.480 --> 0:10:59.000 years ago, sooner years ago, the entire world if years 0:10:59.000 --> 0:11:02.680 ago was moving towards words a gold standard. So to 0:11:02.840 --> 0:11:05.679 understand bitcoin and understand goal, you have to understand what 0:11:05.800 --> 0:11:08.720 is money. So money is something that's used as like 0:11:08.760 --> 0:11:12.160 a medium of exchange. It communicates value. So I have 0:11:12.480 --> 0:11:14.520 something of value, You have something of value. We want 0:11:14.600 --> 0:11:17.800 to exchange. I have a cow, you have a goat. Well, 0:11:18.200 --> 0:11:20.440 in a barter system, you may not want my cow 0:11:20.600 --> 0:11:23.200 or my goat. So shoot, what do we do? Then? Well, 0:11:23.640 --> 0:11:26.719 I could Okay, you don't want my cow. M how 0:11:26.760 --> 0:11:31.080 about would you take my um plow? Would you take 0:11:31.120 --> 0:11:34.320 my um whatever? Right, so I'll trade you something else. Okay, 0:11:34.360 --> 0:11:36.679 you'll take my plow. Great, Okay, I'll trade you the plow, 0:11:36.760 --> 0:11:38.839 and then um you can take that plow and go 0:11:38.920 --> 0:11:41.040 trade for something else. Right. And so we start using 0:11:41.040 --> 0:11:43.520 different things to the bart system, and eventually we have 0:11:43.920 --> 0:11:47.280 certain things that seem to kind of be universally needed. 0:11:48.040 --> 0:11:51.720 And then eventually the market converges onto one thing that's 0:11:51.760 --> 0:11:53.880 the best medium of exchange. And that's exactly what happened 0:11:53.920 --> 0:11:56.199 with gold. And gold has a bunch of money and 0:11:56.480 --> 0:11:58.760 properties of money that make it the best form of money. 0:11:58.960 --> 0:12:02.800 Um it's scarcity being one of them, divisible, portable, durable, 0:12:03.880 --> 0:12:06.600 I'm gonna and many others. And so the whole world 0:12:06.640 --> 0:12:09.560 was moving towards a gold a gold standard. Now, the 0:12:09.600 --> 0:12:12.920 thing with the with money is that as I said that, 0:12:13.000 --> 0:12:15.440 the market will choose which one is the best, and 0:12:15.480 --> 0:12:18.640 they chose gold. And so as nations were switching over 0:12:18.679 --> 0:12:23.959 to use the gold standard, China didn't want to. China 0:12:24.280 --> 0:12:27.000 wanted to stay on the silver standard. They thought silver 0:12:27.120 --> 0:12:29.719 was better. And so this is an important lesson for 0:12:29.760 --> 0:12:34.400 everybody that's listening right now for two reasons. One well, mainly, 0:12:34.559 --> 0:12:39.080 I guess what you choose to store your wealth and matters, 0:12:39.800 --> 0:12:42.800 and it matters a lot, all right, And so when 0:12:42.840 --> 0:12:45.560 you understand China, you understand it's better. And so for 0:12:45.600 --> 0:12:48.640 everybody thinking that, uh, I don't need to hold the 0:12:48.640 --> 0:12:50.920 best form of money, Oh I don't. I don't think 0:12:50.920 --> 0:12:53.880 bitcoin is the best. I'm gonna hold shebu Inhu instead, 0:12:54.000 --> 0:12:56.640 or I'm gonna hold dodge whatever it's gonna be. I'm 0:12:56.640 --> 0:12:59.640 gonna hold silver, I'm gonna hold dollars. Whatever you're gonna hold. 0:13:00.040 --> 0:13:01.800 You have the right, you have obviously the right to 0:13:01.840 --> 0:13:04.640 hold whatever you want as your store of value. But 0:13:04.880 --> 0:13:08.000 what you choose will matter. So China didn't want to 0:13:08.000 --> 0:13:10.520 go to gold. They had a ton of silver, soiver 0:13:10.760 --> 0:13:13.360 had been money for millennium. So no, we're not gonna 0:13:13.400 --> 0:13:14.920 go to We're not gonna go to go, We're gonna 0:13:14.920 --> 0:13:17.559 We're gonna hang on to solver. Well didn't work out 0:13:17.559 --> 0:13:19.400 too well for China. As a matter of fact, they 0:13:19.480 --> 0:13:22.680 lost big. Silver got devalued. Gold took off in value 0:13:22.679 --> 0:13:26.800 because everyone adopted it, and China lost their place in 0:13:26.880 --> 0:13:30.079 the global order. They lost their places as a superpower, 0:13:31.480 --> 0:13:33.400 and so they tried to hang onto it, and they 0:13:33.520 --> 0:13:34.920 kind of went to the Opian Wars in the early 0:13:35.000 --> 0:13:37.240 nine hundreds, about a hundred years ago, they gave up. 0:13:37.240 --> 0:13:39.720 All right, fine, alright, fine whatever, throw in the towel. 0:13:40.480 --> 0:13:43.439 We'll we'll go to gold. Fine, we capitulate. Well, that 0:13:43.520 --> 0:13:45.360 was their first fatal mistake, right, If they would have 0:13:45.360 --> 0:13:48.040 switched over to gold early on, they could have maintained 0:13:48.080 --> 0:13:50.240 their position in the world. But they didn't, so that 0:13:50.280 --> 0:13:53.000 was their first fatal mistake. They finally capitulated in the 0:13:53.040 --> 0:13:55.000 early nineteen hundreds. They went over the gold standard. It 0:13:55.040 --> 0:13:57.360 was too late. The world had passed them by, and 0:13:57.440 --> 0:13:59.240 they were no longer on the world stage in the 0:13:59.280 --> 0:14:03.400 superpower room. Well, for the last hundred years they've been 0:14:03.440 --> 0:14:07.440 trying to accumulate gold. Okay, fine, we learned from our mistakes. 0:14:07.480 --> 0:14:09.760 As China, we learned from our mistakes. We're gonna now 0:14:09.800 --> 0:14:11.400 move to the gold standards. We're gonna everything we can 0:14:11.440 --> 0:14:13.640 to accumulate goal. As a matter of fact, they have 0:14:13.760 --> 0:14:16.880 been the largest accumulators of gold in the world. So 0:14:17.000 --> 0:14:19.880 China does two things. One um, they are the largest 0:14:19.920 --> 0:14:22.000 importer of gold. They're buying gold from anywhere in the 0:14:22.000 --> 0:14:25.000 world they can get it. They're buying it, they're accumulating it. Um. 0:14:25.080 --> 0:14:26.560 The other thing they're doing is they do have a 0:14:26.560 --> 0:14:28.200 lot of gold in China. So they're allowing people to 0:14:28.240 --> 0:14:31.160 come mind gold in China. Hey, everyone, come one, come all, 0:14:31.160 --> 0:14:35.000 come mine bitcoin. I'm sorry, comebine gold in China. The 0:14:35.000 --> 0:14:37.920 thing is, if you go mine um gold in China, 0:14:38.200 --> 0:14:40.680 you're not allowed to send the gold out of the country. 0:14:40.880 --> 0:14:42.880 You can mind the gold, but it has to be 0:14:42.960 --> 0:14:47.400 sold to China. And so um China has become the 0:14:47.480 --> 0:14:52.440 largest holder of gold in the world, many times larger UM. 0:14:52.480 --> 0:14:54.240 I don't know if the Federal Reserve of the United 0:14:54.280 --> 0:14:57.400 States actually has any gold anymore. UM, I kind of 0:14:57.440 --> 0:15:00.440 doubt that they do. However, they report I think about 0:15:00.440 --> 0:15:03.840 eight or nine thousand tons of gold reports of China, 0:15:03.880 --> 0:15:05.600 which of course they don't tell us anything. They keep 0:15:05.600 --> 0:15:07.720 all their records private. But based off of all the 0:15:07.720 --> 0:15:09.960 reports that we can find, based off of mining reports 0:15:09.960 --> 0:15:12.560 and importing reports and whatnot, it is estimated that that 0:15:12.680 --> 0:15:16.160 China sitting on about thirty thousand tons of gold, which 0:15:16.200 --> 0:15:18.960 is many times more than potentially what the United States 0:15:19.080 --> 0:15:23.000 might possibly be holding. So a hundred years China has 0:15:23.000 --> 0:15:25.600 been trying to recover from their fatal mistake and they've 0:15:25.640 --> 0:15:28.520 become the largest gold holder in the world. Well, China 0:15:28.640 --> 0:15:32.800 was also the largest bitcoin miner in the world. A 0:15:32.840 --> 0:15:35.600 lot of people have said, oh, bitcoin is to centralize. 0:15:35.680 --> 0:15:38.440 China holds, you know, over half of the mining power, 0:15:38.480 --> 0:15:40.880 they could attack the network whenever they wanted, and blah 0:15:40.880 --> 0:15:43.880 blah blah, and and the truth was, yeah, China did 0:15:43.920 --> 0:15:47.880 have sixty of the bitcoin mining power. It was starting 0:15:47.920 --> 0:15:50.280 to go down, fifty of the mining power, etcetera. They 0:15:50.280 --> 0:15:52.800 did have that, and they could have done just like gold, 0:15:52.840 --> 0:15:56.360 where they said, hey, um, any any bitcoin that you 0:15:56.400 --> 0:15:59.160 mine in China? Gets sold to us, you can't take 0:15:59.160 --> 0:16:00.280 it out of the country. They could done it, and 0:16:00.280 --> 0:16:02.280 they could have become the largest They could have controlled 0:16:02.280 --> 0:16:05.120 the bitcoin network. The miners don't control the network, but 0:16:05.160 --> 0:16:07.720 they could have become a big holder of bitcoin, like 0:16:07.720 --> 0:16:09.600 they're a big holder of gold. So just like holding 0:16:09.640 --> 0:16:11.600 a bunch of gold doesn't mean you control the gold supply, 0:16:11.720 --> 0:16:13.080 holding a munch a bitcoin does the mean you control 0:16:13.080 --> 0:16:15.720 the bitcoin supply either. But just like they accumulated the 0:16:15.720 --> 0:16:18.480 most gold um, they could have also accumulated the most bitcoin, 0:16:19.120 --> 0:16:23.400 but they didn't. In May of this year, they decided 0:16:23.440 --> 0:16:25.440 to ban all bitcoin mineing and they kicked all the 0:16:25.480 --> 0:16:29.280 bitcoin miners out of their country. So they had the edge, 0:16:29.320 --> 0:16:32.600 they had the lead, and they decided by themselves to 0:16:32.640 --> 0:16:34.280 get rid of it shoot themselves in the foot. And 0:16:34.320 --> 0:16:37.640 I am calling that the second fatal mistake. They've spent 0:16:37.680 --> 0:16:40.000 a hundred years trying to recover from their silver mistake, 0:16:40.040 --> 0:16:43.080 and they finally accumulated enough gold to win. But guess what, 0:16:43.160 --> 0:16:46.360 the whole worlds, the whole world switching from golden The 0:16:46.360 --> 0:16:49.560 whole world doesn't want gold anymore. JP Morgan City Bank 0:16:49.600 --> 0:16:51.320 both put out guidance. They said that they believed that 0:16:51.480 --> 0:16:57.440 bitcoin will overtake gold, that's the new race. But China, Nope, nope, nope, 0:16:57.440 --> 0:17:00.000 We're gonna when the whole world going to a bitcoin stand, 0:17:00.440 --> 0:17:04.160 China is gonna hang onto gold. Sound familiar, right, their 0:17:04.200 --> 0:17:07.800 second fatal mistake. But it's been a big beneficiary for 0:17:07.880 --> 0:17:10.600 some other countries, include the United States. So most of 0:17:10.640 --> 0:17:14.000 those miners that left China found their way to both 0:17:14.280 --> 0:17:18.040 Eastern Europe like Kazakhstan, and into the United States, into 0:17:18.119 --> 0:17:21.000 Texas because of course Texas has massive amounts of cheap 0:17:21.040 --> 0:17:24.520 amount of energy. And the United States is now the 0:17:24.640 --> 0:17:28.720 largest center for bitcoin mining in the world, which is amazing. 0:17:28.800 --> 0:17:31.400 It's also good for bitcoin because it's become more decentralized. 0:17:31.440 --> 0:17:33.359 So even though the United States is the largest bitcoin 0:17:33.440 --> 0:17:36.080 mining country in the world, it actually only has I 0:17:36.119 --> 0:17:37.959 think a little bit more than about a third of 0:17:38.000 --> 0:17:40.560 the bitcoin mining power, so we're China had over half, 0:17:41.000 --> 0:17:43.520 the US has about a third, but it's still the 0:17:43.520 --> 0:17:47.480 biggest country beneficiary, which is great. But I still don't 0:17:47.520 --> 0:17:49.280 know if the United States is going to benefit from this, 0:17:49.480 --> 0:17:52.920 and I think some smaller countries like El Savador are 0:17:53.000 --> 0:17:56.120 actually showing us the way and are going to reset 0:17:56.160 --> 0:17:59.719 the stage in this global arbitrage, this game of global 0:17:59.800 --> 0:18:02.000 che us. If you will, you're listening to the Mark 0:18:02.080 --> 0:18:04.560 mo Show talking about bitcoin, talking about cryptocurrency, is talking 0:18:04.560 --> 0:18:07.639 about the decentralized revolution, and we're talking about the way 0:18:07.720 --> 0:18:10.359 the world is going to get reshaped. This is gonna 0:18:10.359 --> 0:18:13.040 be big. I'll be right back, all right, welcome back. 0:18:13.119 --> 0:18:14.959 You are listening to the markma Show, and we are 0:18:15.000 --> 0:18:19.439 talking about bitcoin and cryptocurrencies and the decentralized revolution that 0:18:19.520 --> 0:18:24.480 we are witnessing, and we're talking about how the global stage, 0:18:24.600 --> 0:18:28.119 the geopolitical stage, is being changed. If you're just joining in, 0:18:28.200 --> 0:18:31.600 you've missed a lot, so don't miss again. Pull up 0:18:31.600 --> 0:18:33.000 your phone and put a reminder. Make sure to join 0:18:33.000 --> 0:18:34.840 me on this channel this time each and every week. 0:18:34.840 --> 0:18:37.959 It's gonna be the most important, most profitable time of 0:18:37.960 --> 0:18:40.800 your week. I'd like to say I can guarantee you that, 0:18:40.840 --> 0:18:44.600 but um you know, knowledge is power only if it's actionable, 0:18:44.680 --> 0:18:46.880 so you gotta take action on it, otherwise it could 0:18:46.880 --> 0:18:50.960 be useless. But um, I talked about how UM China 0:18:51.080 --> 0:18:52.639 to tell the story of China. We talked about how 0:18:52.640 --> 0:18:55.760 they made the fatal mistake getting rid of bitcoin mining um, 0:18:55.800 --> 0:18:57.680 and I'm talking about how the United States has become 0:18:57.680 --> 0:19:00.640 the big beneficiary of this. UM. They have now become 0:19:00.680 --> 0:19:03.280 the number one bitcoin mining country in the world, which 0:19:03.280 --> 0:19:05.320 is great. It's also great for the bitcoin network because 0:19:05.359 --> 0:19:08.080 it's become more decentralized. UM. We're China had over fift 0:19:08.480 --> 0:19:11.240 the bitcoin mining power. Now we see in the United 0:19:11.280 --> 0:19:14.119 States only holds even though it's the biggest in the world, 0:19:14.119 --> 0:19:16.960 it only holds about so it's become much more decentralized, 0:19:16.960 --> 0:19:22.000 which is really good. I'm not quite sure where the 0:19:22.080 --> 0:19:26.600 United States is going to go with this though, I think, UM, 0:19:26.640 --> 0:19:28.520 at this point, I've talked about a lot. I'm not 0:19:28.520 --> 0:19:31.160 gonna dig into super deep here. I think at this point, UM, 0:19:31.160 --> 0:19:34.200 the United States will not it's not going to make 0:19:34.240 --> 0:19:36.160 bitcoin illegal. It's not gonna do it. I mean, we've 0:19:36.160 --> 0:19:38.200 been told that the head of the SEC, Gary Ginsler, 0:19:38.240 --> 0:19:41.359 said that the head of the Federal Reserved m Jerome 0:19:41.400 --> 0:19:43.840 pal said that they will not make it illegal. We 0:19:43.880 --> 0:19:49.840 have banks now uh US Bank, JP, Morgan Goldman, Sachs 0:19:49.880 --> 0:19:52.440 All holding bitcoin. We have fifty million Americans poin bitcoin. 0:19:52.480 --> 0:19:55.399 We have an e t F now AHF with billions 0:19:55.440 --> 0:19:58.200 of dollars holding bitcoin. Um, this is not gonna happen 0:19:58.200 --> 0:20:00.359 at this point. UM, so that that that ship sale. 0:20:01.240 --> 0:20:03.920 But the one thing that bothers me is that on 0:20:04.040 --> 0:20:06.439 the United States is in a very dangerous path to 0:20:07.000 --> 0:20:12.679 eliminate our energy sources, a very very very scary and 0:20:12.800 --> 0:20:16.520 dangerous path. I'm not gonna go super deep into that, UM, 0:20:16.560 --> 0:20:18.119 if you're if you're interested to know more about the 0:20:18.200 --> 0:20:21.159 energy crisis that's actually plaguing the world right now this 0:20:21.400 --> 0:20:24.960 very second, all throughout Europe and the United States, which 0:20:25.000 --> 0:20:27.119 is going to lead to all kinds of shortages, include 0:20:27.119 --> 0:20:31.159 food shortages. It's happening in China, everywhere. UM. I have 0:20:31.200 --> 0:20:33.280 a whole like thirty minute video on this on my 0:20:33.320 --> 0:20:35.960 YouTube channel is Mark Moss, where I have the charts 0:20:35.960 --> 0:20:37.520