1 00:00:00,040 --> 00:00:03,360 Speaker 1: Hello, and welcome to another episode of The Marquis Show. 2 00:00:03,600 --> 00:00:05,480 Speaker 1: When we talk about each and every week, we talked 3 00:00:05,519 --> 00:00:08,520 Speaker 1: about the way the world is changing. Of course, we 4 00:00:08,560 --> 00:00:13,000 Speaker 1: talk about the technological revolution, the decentralized revolution as I 5 00:00:13,039 --> 00:00:15,120 Speaker 1: like to call it. As we're witnessing the world change 6 00:00:15,360 --> 00:00:19,640 Speaker 1: through the lens of politics, finance, and technology, and the 7 00:00:19,680 --> 00:00:21,640 Speaker 1: world of finance. I mean, all three of these are 8 00:00:21,680 --> 00:00:24,599 Speaker 1: changing rapidly. Of course they all affect each other. But 9 00:00:24,760 --> 00:00:29,600 Speaker 1: we are witnessing something going on this week, something massive, 10 00:00:29,720 --> 00:00:32,360 Speaker 1: something for the history books. As a matter of fact, 11 00:00:32,360 --> 00:00:34,640 Speaker 1: history books will be written about this point in time 12 00:00:34,960 --> 00:00:39,160 Speaker 1: exactly what's going on. And I am talking about one 13 00:00:39,240 --> 00:00:43,400 Speaker 1: of the biggest banks in the world, a sovereign bank, 14 00:00:43,800 --> 00:00:47,640 Speaker 1: the Bank of England, has broke. That's a big deal. 15 00:00:48,159 --> 00:00:51,279 Speaker 1: This is a really big deal. We are witnessing central 16 00:00:51,320 --> 00:00:54,720 Speaker 1: banks around the world breaking. We're not talking about, you know, 17 00:00:54,840 --> 00:00:58,640 Speaker 1: in two thousand and eight during the Great Financial Crash 18 00:00:58,920 --> 00:01:02,400 Speaker 1: when the investment banks were down. We're talking about sovereign banks, 19 00:01:02,680 --> 00:01:05,760 Speaker 1: in national banks, central banks, and they are breaking. So 20 00:01:05,760 --> 00:01:08,160 Speaker 1: we want to talk about that. The way the financial 21 00:01:08,200 --> 00:01:11,920 Speaker 1: system is changing. Obviously the political side that's scrambling, and 22 00:01:11,959 --> 00:01:14,440 Speaker 1: of course the technology that's sitting there waiting in the 23 00:01:14,440 --> 00:01:18,160 Speaker 1: winds uh and appears to be ready to move into 24 00:01:18,200 --> 00:01:20,520 Speaker 1: prime time. And of course we are talking about bitcoin, 25 00:01:21,240 --> 00:01:22,920 Speaker 1: and so we're gonna break all of this down. I 26 00:01:22,959 --> 00:01:25,400 Speaker 1: want to break down exactly what's going on with the 27 00:01:25,440 --> 00:01:28,560 Speaker 1: Bank of England, what happened, how the contagion is spreading 28 00:01:28,560 --> 00:01:31,039 Speaker 1: to all the other central banks. I want to go 29 00:01:31,080 --> 00:01:33,320 Speaker 1: back through some of the history of money so you 30 00:01:33,360 --> 00:01:37,400 Speaker 1: can understand exactly how this works and why this is happening, 31 00:01:37,680 --> 00:01:40,200 Speaker 1: of course, and then we'll get back into the currency 32 00:01:40,240 --> 00:01:42,640 Speaker 1: wars that are happening now between all the banks, the 33 00:01:42,720 --> 00:01:46,760 Speaker 1: danger that we're witnessing in China, Japan, the UK, of 34 00:01:46,800 --> 00:01:50,880 Speaker 1: course in the United States. And we'll talk about bitcoin. 35 00:01:51,080 --> 00:01:54,880 Speaker 1: Is it ready to um make its prime time appearance? 36 00:01:54,920 --> 00:01:58,720 Speaker 1: Could it be a recipient or a beneficiary of all 37 00:01:58,720 --> 00:02:00,440 Speaker 1: of this? And so we've got a lot cover. We're 38 00:02:00,440 --> 00:02:03,080 Speaker 1: gonna get through all this today, hopefully if I can 39 00:02:03,080 --> 00:02:05,040 Speaker 1: talk fast enough. So if you're just tuning in, you're 40 00:02:05,040 --> 00:02:07,640 Speaker 1: listening to the Markmas Show, and we are digging into it. So, 41 00:02:07,960 --> 00:02:11,600 Speaker 1: like I said, the big news, the Bank of England 42 00:02:11,639 --> 00:02:14,440 Speaker 1: has broke. Now the Bank of England's broke before. As 43 00:02:14,480 --> 00:02:20,560 Speaker 1: a matter of fact, everybody's favorite government overthrower, George Soros, 44 00:02:20,680 --> 00:02:23,720 Speaker 1: he got famously rich from breaking the Bank of England 45 00:02:23,960 --> 00:02:26,080 Speaker 1: in a single day, making a billion dollars in a 46 00:02:26,120 --> 00:02:30,480 Speaker 1: single day. And you know, central banks they're destined to fail. 47 00:02:31,040 --> 00:02:34,480 Speaker 1: You can't create money from thin air. Just doesn't work. Now, 48 00:02:34,520 --> 00:02:37,240 Speaker 1: it does for a long enough period of time until 49 00:02:37,280 --> 00:02:41,320 Speaker 1: it distorts things so bad that then they get inevitably 50 00:02:41,360 --> 00:02:44,119 Speaker 1: so bad that they break. And that's kind of where 51 00:02:44,120 --> 00:02:46,639 Speaker 1: we're at. We saw the Bank of England break. Now, um, 52 00:02:47,240 --> 00:02:49,760 Speaker 1: the UK still there, the Bank of England still there, 53 00:02:50,200 --> 00:02:53,280 Speaker 1: but they have Basically, it's like if you're playing a 54 00:02:53,280 --> 00:02:55,720 Speaker 1: game of poker. They've put it all in. All chips 55 00:02:55,720 --> 00:02:59,840 Speaker 1: are in, and if they're not able to hold the 56 00:03:00,040 --> 00:03:02,560 Speaker 1: US up right now, which I don't think they'll be 57 00:03:02,600 --> 00:03:07,160 Speaker 1: able to, then all trust is gone and they're going 58 00:03:07,240 --> 00:03:10,399 Speaker 1: to disappear. That's why they've had to put all chips in. 59 00:03:10,480 --> 00:03:13,920 Speaker 1: So let's talk about that for a little bit and 60 00:03:13,960 --> 00:03:16,760 Speaker 1: then we'll get into how this works. Like I said, 61 00:03:16,800 --> 00:03:18,400 Speaker 1: I want to go through some of the history, but 62 00:03:18,760 --> 00:03:21,280 Speaker 1: real fast, let's just talk about the history a little 63 00:03:21,280 --> 00:03:23,440 Speaker 1: bit so you can understand this I'd like to talk 64 00:03:23,440 --> 00:03:26,440 Speaker 1: about it from a from a first principle's level. We 65 00:03:26,480 --> 00:03:29,520 Speaker 1: can break this down simply where you can understand it. Um, 66 00:03:29,639 --> 00:03:31,640 Speaker 1: then you can understand it, and it's more complex. But 67 00:03:31,639 --> 00:03:33,480 Speaker 1: if you try to understand it, it's more complex. It's 68 00:03:33,600 --> 00:03:36,560 Speaker 1: it's very difficult to understand. And so um central banks, 69 00:03:36,920 --> 00:03:40,280 Speaker 1: the Bank of England being the first central bank that 70 00:03:40,320 --> 00:03:43,120 Speaker 1: was creating the late sixteen hundreds. Now, UM, there's a 71 00:03:43,160 --> 00:03:45,720 Speaker 1: great book. I believe it was written by Murray Rothbart. 72 00:03:46,040 --> 00:03:48,160 Speaker 1: You can find it on mesas dot org for free. 73 00:03:48,520 --> 00:03:53,400 Speaker 1: It's the Mystery of Central Banking. Great book, highly recommended. 74 00:03:53,440 --> 00:03:56,240 Speaker 1: When I repeat it again, Mystery of Central Banking. You 75 00:03:56,280 --> 00:03:59,160 Speaker 1: go to mesas dot org, m I s ees dot org. 76 00:03:59,200 --> 00:04:00,680 Speaker 1: You can download it for free. Of course you can 77 00:04:00,720 --> 00:04:03,440 Speaker 1: buy it as well. You can download the PDF version 78 00:04:03,520 --> 00:04:05,120 Speaker 1: or or buy the physical book to be sent to 79 00:04:05,160 --> 00:04:07,720 Speaker 1: your house. Um. And so in in that book they 80 00:04:07,840 --> 00:04:10,360 Speaker 1: really document how this was put together. And so let 81 00:04:10,400 --> 00:04:15,800 Speaker 1: me just give you this first. Actually, um, yeah, let's 82 00:04:15,960 --> 00:04:17,920 Speaker 1: let's go back a little bit further. Let's go back 83 00:04:17,920 --> 00:04:21,120 Speaker 1: to let's let's go back, let's go back a thousand 84 00:04:21,240 --> 00:04:23,040 Speaker 1: years and then well then we'll jump to the creation 85 00:04:23,040 --> 00:04:26,640 Speaker 1: of the Bank of England. That's breaking right now. So 86 00:04:26,920 --> 00:04:30,560 Speaker 1: if we go back in time, gold has been money 87 00:04:30,600 --> 00:04:34,359 Speaker 1: for most of recorded history. Of course, before money, before 88 00:04:34,240 --> 00:04:36,560 Speaker 1: there was a medium of exchange, we just had barter. 89 00:04:36,720 --> 00:04:39,440 Speaker 1: So we'd trade uh, you know, food, things like that. 90 00:04:39,480 --> 00:04:41,640 Speaker 1: We trade a cow for a chicken, we'd trade clothes 91 00:04:41,640 --> 00:04:44,000 Speaker 1: for wood, things like that. Since we had barter, of course, 92 00:04:44,000 --> 00:04:46,520 Speaker 1: that's very inefficient and it only works in very small, 93 00:04:46,600 --> 00:04:50,640 Speaker 1: localized economies, and so we needed a price for things, 94 00:04:50,800 --> 00:04:53,320 Speaker 1: and we needed to have this medium of exchange that 95 00:04:53,400 --> 00:04:56,200 Speaker 1: could communicate this price. And so it'll allow us to 96 00:04:56,360 --> 00:05:00,920 Speaker 1: have this trade. Media's exchange are emergent. And so if 97 00:05:00,920 --> 00:05:02,800 Speaker 1: you don't want my chicken, my goat, um, I would 98 00:05:02,920 --> 00:05:05,799 Speaker 1: my clothes? Um? Then would you take this other thing instead? 99 00:05:05,839 --> 00:05:08,000 Speaker 1: And this became a medium of exchange. It's not it's 100 00:05:08,000 --> 00:05:10,640 Speaker 1: not the thing I wanted, but it allows me to 101 00:05:11,400 --> 00:05:13,520 Speaker 1: um use that to get what I do want. So 102 00:05:13,600 --> 00:05:17,320 Speaker 1: I like to say, um, it's it's very controversial that 103 00:05:17,960 --> 00:05:21,200 Speaker 1: you don't want money, and people go, what what do 104 00:05:21,200 --> 00:05:22,440 Speaker 1: you who do you mean? Of course I want money. 105 00:05:22,440 --> 00:05:23,919 Speaker 1: I want as much money as I can get. No, 106 00:05:24,040 --> 00:05:26,920 Speaker 1: you don't. What you want is the things that money 107 00:05:27,000 --> 00:05:29,880 Speaker 1: will buy you, that's what you want. Money allows us 108 00:05:29,920 --> 00:05:33,440 Speaker 1: to park our our value are stored up energy until 109 00:05:33,520 --> 00:05:35,760 Speaker 1: such a time we're ready to deploy that to get 110 00:05:35,839 --> 00:05:38,040 Speaker 1: actually what it is that we want, which is a vacation, 111 00:05:38,400 --> 00:05:41,560 Speaker 1: a dinner out, a new car, new clothes, etcetera. And 112 00:05:41,600 --> 00:05:44,040 Speaker 1: so what we want is the things, but that medium 113 00:05:44,040 --> 00:05:46,960 Speaker 1: exchange allows us to get all of those things or 114 00:05:47,000 --> 00:05:48,880 Speaker 1: like I said, store our energy until we're ready to 115 00:05:48,920 --> 00:05:51,480 Speaker 1: do that. Now, Um, what we use is as this 116 00:05:51,520 --> 00:05:55,920 Speaker 1: medium exchange has evolved, and it's been feathers and seashells 117 00:05:55,920 --> 00:05:59,520 Speaker 1: and rocks and all types of things. In gold became 118 00:05:59,560 --> 00:06:02,520 Speaker 1: the best medium exchange. But before gold became a media exchange, 119 00:06:03,040 --> 00:06:07,039 Speaker 1: we had lots of things. Um. And really what happened 120 00:06:07,080 --> 00:06:10,279 Speaker 1: is we saw all of these different media exchange. Barley 121 00:06:10,640 --> 00:06:14,240 Speaker 1: was one medium exchange that worked for a really long time. Um, 122 00:06:14,279 --> 00:06:16,640 Speaker 1: and then we started getting coins and so then there 123 00:06:16,680 --> 00:06:20,640 Speaker 1: was a new technology. Remember it's always technology that changes 124 00:06:20,680 --> 00:06:23,520 Speaker 1: the world through thousands of years of history, it's always technology, 125 00:06:23,520 --> 00:06:25,320 Speaker 1: which is why we look at the world changing through 126 00:06:25,360 --> 00:06:30,640 Speaker 1: three lenses, political, financial, and technological. Now, um, this technology 127 00:06:30,680 --> 00:06:34,719 Speaker 1: that was created was coins, and so we could take medals. 128 00:06:34,760 --> 00:06:36,680 Speaker 1: We could take copper, we could take a gold, we 129 00:06:36,720 --> 00:06:38,920 Speaker 1: could take solver, and we could make coins out of them. 130 00:06:38,960 --> 00:06:41,520 Speaker 1: Now this became a good medium exchange. The problem is 131 00:06:41,760 --> 00:06:44,360 Speaker 1: is who made the coin and how pure is the 132 00:06:44,400 --> 00:06:46,480 Speaker 1: coin and do we recognize it? So it still worked 133 00:06:46,600 --> 00:06:50,960 Speaker 1: in a very regional location, in a in a regional area, 134 00:06:51,600 --> 00:06:55,159 Speaker 1: obviously some people had more access to these medals than 135 00:06:55,240 --> 00:06:58,080 Speaker 1: other areas did, which then allowed them to have more 136 00:06:58,120 --> 00:07:00,720 Speaker 1: wealth because they could print more of these coins. Um. 137 00:07:00,760 --> 00:07:04,080 Speaker 1: But that was a technological revolution, a technological breakthrough that 138 00:07:04,120 --> 00:07:07,920 Speaker 1: really happened and allowed global trade to speed up. Now, 139 00:07:08,600 --> 00:07:10,560 Speaker 1: the thing that's important to understand, and we're gonna come 140 00:07:10,560 --> 00:07:12,840 Speaker 1: back to this theme over and over and over, is 141 00:07:12,880 --> 00:07:18,000 Speaker 1: that as the money supply increases, so does the rest 142 00:07:18,040 --> 00:07:24,280 Speaker 1: of the economy. So if there's more um, whatever, gold, silver, whatever, 143 00:07:24,320 --> 00:07:27,440 Speaker 1: coins to go around, then more people will go out 144 00:07:27,480 --> 00:07:29,400 Speaker 1: and do more things. I'll make more clothes, I'll make 145 00:07:29,440 --> 00:07:32,360 Speaker 1: more food, I'll build more houses because there's more money 146 00:07:32,480 --> 00:07:35,720 Speaker 1: to go around. So as the money supply increases UM, 147 00:07:35,840 --> 00:07:39,480 Speaker 1: so do typically the economic output of that area as well. 148 00:07:39,520 --> 00:07:44,640 Speaker 1: But it also increases inflation. That means the prices going up, 149 00:07:44,960 --> 00:07:48,400 Speaker 1: so you Remember, we don't want money. What we want 150 00:07:48,520 --> 00:07:50,880 Speaker 1: is the things that money buys us, the goods and services. 151 00:07:50,880 --> 00:07:53,320 Speaker 1: So you would take all the goods and services. And 152 00:07:53,360 --> 00:07:55,800 Speaker 1: so in a small little economy, you have some coconuts, 153 00:07:55,960 --> 00:07:57,960 Speaker 1: you have some fish, and you have some guy that 154 00:07:58,000 --> 00:08:00,240 Speaker 1: can help you build your hut. That's it, right. If 155 00:08:00,280 --> 00:08:04,360 Speaker 1: you increase the money, then it increases the demand for 156 00:08:04,520 --> 00:08:06,280 Speaker 1: those things, the coconut, the fish, and the guy that 157 00:08:06,320 --> 00:08:08,720 Speaker 1: can build the hut, and so all aso. More money 158 00:08:08,840 --> 00:08:11,720 Speaker 1: creates more demand. But we didn't increase the amount of 159 00:08:11,760 --> 00:08:14,320 Speaker 1: fish or the coconuts or the guys that can build 160 00:08:14,320 --> 00:08:16,760 Speaker 1: the houses, and so it pushes the prices of those 161 00:08:16,800 --> 00:08:21,520 Speaker 1: things up. More money equals more demand equals prices going higher. 162 00:08:21,560 --> 00:08:23,720 Speaker 1: All right, that makes sense. So throughout history we can 163 00:08:23,760 --> 00:08:26,040 Speaker 1: revisit this over and over and over. As the money 164 00:08:26,080 --> 00:08:31,400 Speaker 1: supply increases, it creates inflation. Alright, you hear about inflation 165 00:08:31,480 --> 00:08:33,319 Speaker 1: all over. Now you understand a Now this work. So 166 00:08:33,640 --> 00:08:36,160 Speaker 1: now that we've kind of developed that, let's jump back 167 00:08:36,280 --> 00:08:42,400 Speaker 1: to about fifteen hundred eight. It's about five hundred years 168 00:08:42,440 --> 00:08:46,720 Speaker 1: ago or so, and there was a big discovery that 169 00:08:46,960 --> 00:08:49,720 Speaker 1: changed the world. It changed the power balance of the world. 170 00:08:49,840 --> 00:08:53,160 Speaker 1: It changes the inflation of the world, and uh, it 171 00:08:53,520 --> 00:08:55,240 Speaker 1: really sent the world in this direction. Before we get 172 00:08:55,280 --> 00:08:56,880 Speaker 1: into that, just letting you know. If you're just tune in, 173 00:08:56,920 --> 00:08:59,240 Speaker 1: you're listening to the Mark Moss Show. We're talking about 174 00:08:59,600 --> 00:09:01,880 Speaker 1: the de centralized revolution, the way the world is changing 175 00:09:02,000 --> 00:09:04,200 Speaker 1: right now before of our eyes. Were talking about the 176 00:09:04,240 --> 00:09:06,880 Speaker 1: Bank of England just failed. And we're setting up the 177 00:09:06,920 --> 00:09:09,160 Speaker 1: history so you can understand how this works, and then 178 00:09:09,200 --> 00:09:11,839 Speaker 1: we'll explain what's going on and what you should be 179 00:09:11,880 --> 00:09:14,880 Speaker 1: doing to prepare for it. Um So, I got a 180 00:09:14,880 --> 00:09:16,280 Speaker 1: lot to cover. Hopefully we can get through all this. 181 00:09:16,280 --> 00:09:18,160 Speaker 1: I'm we have to talk really really fast. You do 182 00:09:18,240 --> 00:09:22,000 Speaker 1: not want to miss this, so don't go away. I'm 183 00:09:22,000 --> 00:09:24,400 Speaker 1: gonna be back in just a minute. All right, welcome back. 184 00:09:24,440 --> 00:09:26,240 Speaker 1: You are listening to the Mark ma Show. We're talking 185 00:09:26,240 --> 00:09:29,480 Speaker 1: about the decentralized revolution, the way the world is breaking 186 00:09:29,520 --> 00:09:31,360 Speaker 1: apart right before of our eyes. Of course, we look 187 00:09:31,360 --> 00:09:34,720 Speaker 1: at it through the lens of politics, finance, and technology, 188 00:09:34,760 --> 00:09:39,720 Speaker 1: and that technology being bitcoin, the decentralized technology, which of 189 00:09:39,760 --> 00:09:43,280 Speaker 1: course changes the financial system and changes the political system. 190 00:09:43,600 --> 00:09:46,240 Speaker 1: Now today we are talking about specifically, we're talking about 191 00:09:46,440 --> 00:09:49,920 Speaker 1: the central banks around the world, are are failing. The 192 00:09:49,920 --> 00:09:53,720 Speaker 1: Bank of England just broke this week. We're talking about history. 193 00:09:53,800 --> 00:09:56,720 Speaker 1: So we're just stopping at fift hundred and so the 194 00:09:56,760 --> 00:09:59,040 Speaker 1: world that we have this global trade going on, we 195 00:09:59,080 --> 00:10:01,640 Speaker 1: have these coins and all of a sudden, there was 196 00:10:01,679 --> 00:10:06,160 Speaker 1: a discovery in the fifteen hundreds by Spain. Spain was 197 00:10:06,760 --> 00:10:11,600 Speaker 1: out across the world looking for more wealth, more riches, right, 198 00:10:12,120 --> 00:10:16,080 Speaker 1: and they found it. They found a m the Spanish 199 00:10:16,080 --> 00:10:19,560 Speaker 1: conquistadores um found the Inca Empire, you know, in South 200 00:10:19,600 --> 00:10:23,600 Speaker 1: America in the fifteen hundreds, and they found the richest 201 00:10:23,840 --> 00:10:29,280 Speaker 1: silver deposit in the world on a high mountains which 202 00:10:29,320 --> 00:10:34,079 Speaker 1: is about fifteen thousand feet way up there, way up there. 203 00:10:34,440 --> 00:10:37,640 Speaker 1: And the Spaniards called this the Sero Rico or the 204 00:10:37,760 --> 00:10:41,160 Speaker 1: Rich Mountain, and it was over thirteen thousand feet now. 205 00:10:41,280 --> 00:10:45,320 Speaker 1: Once they found that, then this mining town boomed. Um. 206 00:10:45,400 --> 00:10:48,280 Speaker 1: They you know, started digging these deep holes day on, 207 00:10:48,559 --> 00:10:52,000 Speaker 1: you know, enslaved the local indigenous people there, made them 208 00:10:52,000 --> 00:10:53,840 Speaker 1: get all of this silver out of the ground. There 209 00:10:53,880 --> 00:10:55,439 Speaker 1: was also lead in there, which of course is really 210 00:10:55,480 --> 00:10:57,439 Speaker 1: bad for you. Lots of it was. It was very 211 00:10:57,480 --> 00:11:00,360 Speaker 1: hazardous work, let's just call it that. But the but 212 00:11:00,400 --> 00:11:02,400 Speaker 1: the Spanish were able to get all of this silver 213 00:11:02,480 --> 00:11:05,200 Speaker 1: out of the ground, and it was the largest silver 214 00:11:05,400 --> 00:11:08,640 Speaker 1: discovery in the world at that time. And then they 215 00:11:09,000 --> 00:11:11,320 Speaker 1: took all that Spain they I'm sorry that all that silver, 216 00:11:11,520 --> 00:11:15,439 Speaker 1: they took it back to Spain. Um and it increased 217 00:11:15,480 --> 00:11:20,640 Speaker 1: the money supply between Let's see, during the sixteenth century, 218 00:11:20,679 --> 00:11:22,679 Speaker 1: the population of Potosi. Potosi is where they had the 219 00:11:22,720 --> 00:11:25,600 Speaker 1: silver mine. It grewed over two thousand and the silver 220 00:11:25,640 --> 00:11:30,320 Speaker 1: mind became the source of sixty percent of the world's silver. 221 00:11:31,600 --> 00:11:37,640 Speaker 1: Between hundred produced all known silver produced in the world, 222 00:11:38,080 --> 00:11:40,400 Speaker 1: so massive, So it became the source of six in 223 00:11:40,400 --> 00:11:43,280 Speaker 1: the world silver. So it exploded the money supply. When 224 00:11:43,320 --> 00:11:46,120 Speaker 1: you explode the money supply, what happens again, you have 225 00:11:46,240 --> 00:11:50,640 Speaker 1: more money chasing the same goods, which creates inflation. Also, 226 00:11:51,000 --> 00:11:53,240 Speaker 1: more people will go to make more goods because there's 227 00:11:53,240 --> 00:11:55,080 Speaker 1: more money. When you have a lot of money, you 228 00:11:55,080 --> 00:11:57,400 Speaker 1: buy stuff you don't necessarily need. You buy stuff that 229 00:11:57,440 --> 00:11:59,199 Speaker 1: you want. And if you have even more money and 230 00:11:59,240 --> 00:12:01,040 Speaker 1: people will offer you stuff, you're like, oh sure, I'll 231 00:12:01,040 --> 00:12:04,160 Speaker 1: take that too. And so it created this massive growth, 232 00:12:04,280 --> 00:12:07,559 Speaker 1: massive prosperity. It was a good thing. Um massive trade, 233 00:12:07,880 --> 00:12:11,839 Speaker 1: massive growth, massive prosperity, massive progress, all types of new 234 00:12:12,240 --> 00:12:15,360 Speaker 1: products and tools and inventions and all of these things. 235 00:12:16,360 --> 00:12:19,560 Speaker 1: And inflation because as you inflate the money supply, you 236 00:12:19,559 --> 00:12:21,920 Speaker 1: get it. So it's a it's a double edged sword. Yes, 237 00:12:21,960 --> 00:12:25,760 Speaker 1: you get the growth, but you also get the prices 238 00:12:25,800 --> 00:12:28,439 Speaker 1: going up. You also get the inflation. Now we can 239 00:12:28,480 --> 00:12:30,440 Speaker 1: fast forward a few hundred years, Like I said that 240 00:12:30,520 --> 00:12:33,840 Speaker 1: ghos to about the early eighteen hundreds, and in the 241 00:12:33,880 --> 00:12:39,280 Speaker 1: early eighteen hundreds, Um, something else happened. Now what just 242 00:12:39,400 --> 00:12:42,360 Speaker 1: real quick to highlight this. What happened is all the 243 00:12:42,480 --> 00:12:46,600 Speaker 1: silver came into the world and then the mind started 244 00:12:46,640 --> 00:12:50,000 Speaker 1: to run out. So we were increasing the money supply 245 00:12:50,320 --> 00:12:53,680 Speaker 1: for a long time, and we had massive growth, growth, growth, 246 00:12:53,679 --> 00:12:56,200 Speaker 1: growth at a breakneck pace. Right, everything is going up 247 00:12:56,200 --> 00:12:58,520 Speaker 1: in value, Everything is exploding, more products, more services, all 248 00:12:58,559 --> 00:13:02,640 Speaker 1: these things. But then mind starts running out of silver. 249 00:13:03,120 --> 00:13:07,400 Speaker 1: So the money supply, the silver is adding to the 250 00:13:07,400 --> 00:13:11,160 Speaker 1: world's supply at a breakneck speed. Growth, prosperity, prices everything 251 00:13:11,200 --> 00:13:13,680 Speaker 1: at a breakneck speed, and then all of a sudden, 252 00:13:13,720 --> 00:13:17,080 Speaker 1: the money starts running out. The money supply starts going down, 253 00:13:17,640 --> 00:13:21,800 Speaker 1: which then causes massive contraction. Now you have all these 254 00:13:21,840 --> 00:13:25,839 Speaker 1: people that need all these things, that want all these things, 255 00:13:25,840 --> 00:13:28,600 Speaker 1: that are trying to sell all these things, and now 256 00:13:28,640 --> 00:13:32,959 Speaker 1: there's not enough money to go around. Okay, that's the theme. 257 00:13:34,120 --> 00:13:38,320 Speaker 1: You increase the money supply, you get massive booms. You 258 00:13:38,600 --> 00:13:41,320 Speaker 1: decrease the money supply, you get the opposite of that, 259 00:13:41,840 --> 00:13:44,040 Speaker 1: which is a massive bust. All right, So we're gonna 260 00:13:44,080 --> 00:13:46,079 Speaker 1: follow this all the way through to what's happening to 261 00:13:46,120 --> 00:13:49,040 Speaker 1: the Bank of England right now today. Now, going back 262 00:13:49,080 --> 00:13:52,600 Speaker 1: here we are, eighteen hundreds were in England and Sir 263 00:13:52,720 --> 00:13:55,480 Speaker 1: Isaac Newton you might have heard it and before, and 264 00:13:55,520 --> 00:14:00,880 Speaker 1: Sir Isaac Newton, Um, he came up with, uh, a 265 00:14:00,920 --> 00:14:04,320 Speaker 1: new way to get metal and that was the gold, 266 00:14:04,679 --> 00:14:07,959 Speaker 1: the gold standard. So um he said, hey, let's uh, 267 00:14:08,120 --> 00:14:10,199 Speaker 1: let's use this new type of money. We're gonna move 268 00:14:10,280 --> 00:14:13,360 Speaker 1: to gold. And so England did, uh. They are able 269 00:14:13,400 --> 00:14:15,840 Speaker 1: to get able to get more gold into the system. 270 00:14:15,920 --> 00:14:19,160 Speaker 1: Gold took over at a higher volume or I'm sorry, 271 00:14:19,240 --> 00:14:22,200 Speaker 1: higher value than what the silver did, and so it 272 00:14:22,280 --> 00:14:25,720 Speaker 1: took off. The United States was formerly on a bi 273 00:14:25,800 --> 00:14:29,520 Speaker 1: metal standards. They're using gold and silver at the time. Um. 274 00:14:29,560 --> 00:14:33,120 Speaker 1: They switched over to gold in eighteen thirty four, UM, 275 00:14:33,200 --> 00:14:35,360 Speaker 1: and then really, by the end of the eighteen hundreds 276 00:14:35,400 --> 00:14:39,240 Speaker 1: of Congress passed a gold Standard Act um, and so 277 00:14:39,480 --> 00:14:41,760 Speaker 1: in eighteen four the United States went under gold standard, 278 00:14:41,800 --> 00:14:44,680 Speaker 1: fixed the price of gold at twenty dollars per ounce um, 279 00:14:44,720 --> 00:14:46,800 Speaker 1: and the rest of the world started moving on to 280 00:14:46,960 --> 00:14:52,000 Speaker 1: a gold standard. Now, Um, China, just a tidbit note here, 281 00:14:52,280 --> 00:14:54,280 Speaker 1: China has said, no, we're not moving to the gold standard. 282 00:14:54,440 --> 00:14:56,560 Speaker 1: We're gonna stay on the silver standard. We don't want 283 00:14:56,600 --> 00:14:58,440 Speaker 1: that gold. We're gonna stick with what we have silver. 284 00:14:58,720 --> 00:15:00,520 Speaker 1: Because they had so much silver, they didn't want to 285 00:15:00,520 --> 00:15:04,120 Speaker 1: give up their silver, and they lost their position in 286 00:15:04,160 --> 00:15:07,200 Speaker 1: the world. Because the value of silver plummeted. Everyone moved 287 00:15:07,200 --> 00:15:09,480 Speaker 1: to gold now again. So that so the amount of 288 00:15:09,520 --> 00:15:13,560 Speaker 1: gold exploded. Wealth explode again. So the money supply had 289 00:15:13,600 --> 00:15:16,560 Speaker 1: dipped and now started going back up again again. Massive growth, 290 00:15:16,600 --> 00:15:20,200 Speaker 1: massive prosperity, massive inflation. Prices are going up, we had 291 00:15:20,200 --> 00:15:23,240 Speaker 1: more things to buy. Then what happens is then we 292 00:15:23,280 --> 00:15:27,960 Speaker 1: go into World War One, and um, this is where 293 00:15:28,000 --> 00:15:30,000 Speaker 1: we'll go to the bank, the creation of the Bank 294 00:15:30,000 --> 00:15:32,320 Speaker 1: of England. We we didn't skip. We skipped that part. 295 00:15:32,600 --> 00:15:35,040 Speaker 1: And so in the late six hundreds, back to the 296 00:15:35,120 --> 00:15:38,760 Speaker 1: mystery of central banking. Um, England was going to war 297 00:15:38,800 --> 00:15:42,880 Speaker 1: with France and they needed more money, and you can't 298 00:15:42,920 --> 00:15:45,440 Speaker 1: just go create more silver or gold out of thin air, 299 00:15:45,520 --> 00:15:48,120 Speaker 1: and they didn't have it. So a group of bankers, 300 00:15:49,040 --> 00:15:52,320 Speaker 1: so at the time, kings would borrow money from the 301 00:15:52,440 --> 00:15:55,400 Speaker 1: rich people, and they'd borrow money, typically for social programs 302 00:15:55,520 --> 00:15:57,960 Speaker 1: or most likely for war. And so they needed money 303 00:15:58,000 --> 00:16:00,120 Speaker 1: for the war, and so the so the king said, hey, 304 00:16:00,200 --> 00:16:03,040 Speaker 1: rich guys, we need money. We need money for this 305 00:16:03,080 --> 00:16:05,640 Speaker 1: war with France. And the and the rich guy said, hey, okay, sure, 306 00:16:05,680 --> 00:16:07,680 Speaker 1: no problem, we got you, We got your back, don't worry. 307 00:16:08,040 --> 00:16:10,440 Speaker 1: Here's what we're gonna do though, Um, we're going to 308 00:16:10,520 --> 00:16:12,960 Speaker 1: give you as much money as you want. A matter 309 00:16:12,960 --> 00:16:15,720 Speaker 1: of fact, we're gonna give you an unlimited supply of money. 310 00:16:15,880 --> 00:16:18,120 Speaker 1: And they're the King's like, wow, that's awesome, great, cool, 311 00:16:18,880 --> 00:16:21,160 Speaker 1: let's do it. And they said, but here, here's the catch. 312 00:16:21,520 --> 00:16:23,680 Speaker 1: Here's what we're gonna do. We're going to create our 313 00:16:23,680 --> 00:16:25,880 Speaker 1: own bank. It's called the Bank of England, and we're 314 00:16:25,920 --> 00:16:29,720 Speaker 1: going to create our own form of money, our paper money, 315 00:16:30,240 --> 00:16:32,080 Speaker 1: and we're going to give you as much of that 316 00:16:32,120 --> 00:16:35,320 Speaker 1: money as you want. The catches is that you have 317 00:16:35,480 --> 00:16:38,600 Speaker 1: to tell the people in England that UM our bank 318 00:16:38,760 --> 00:16:41,800 Speaker 1: is recognized by the crown. UM, it's by the government. 319 00:16:42,520 --> 00:16:44,760 Speaker 1: We are the only bank, and they have to use 320 00:16:44,760 --> 00:16:47,600 Speaker 1: our money. And if you do that, you tell them 321 00:16:47,600 --> 00:16:49,080 Speaker 1: that our bank is the is the bank they who 322 00:16:49,120 --> 00:16:50,440 Speaker 1: do use and they have to use our fake money, 323 00:16:50,600 --> 00:16:52,360 Speaker 1: then we'll give you as much of this fake money 324 00:16:52,360 --> 00:16:55,240 Speaker 1: as you wanted. Which, when you understand it said that way, 325 00:16:55,360 --> 00:16:58,560 Speaker 1: it sounds like a big scam, doesn't it. And if 326 00:16:58,600 --> 00:17:00,360 Speaker 1: you think it does sound like a big am, than 327 00:17:00,440 --> 00:17:03,120 Speaker 1: you are onto something. And of course so the king 328 00:17:03,240 --> 00:17:05,879 Speaker 1: said sharifying, okay, your bank is I recognized. We use 329 00:17:05,880 --> 00:17:07,600 Speaker 1: your money, and they'll take more of it. They got 330 00:17:07,640 --> 00:17:09,680 Speaker 1: all this money, they went into the war, into World 331 00:17:09,720 --> 00:17:12,760 Speaker 1: War one UM, and they printed all this fake money. 332 00:17:12,760 --> 00:17:15,600 Speaker 1: They didn't have enough gold um, which was the real money. 333 00:17:15,680 --> 00:17:17,760 Speaker 1: They printed all this fake money, and then at the 334 00:17:17,840 --> 00:17:21,760 Speaker 1: end of the war they didn't have the money they needed. 335 00:17:21,800 --> 00:17:24,960 Speaker 1: So the money supply went up, it expanded, and then 336 00:17:25,000 --> 00:17:27,680 Speaker 1: the money supply shrank and it went into a massive 337 00:17:27,720 --> 00:17:31,159 Speaker 1: depression that led into the Great Depression in the United States. 338 00:17:31,760 --> 00:17:33,480 Speaker 1: I want to talk to you the rest of the way, 339 00:17:33,600 --> 00:17:36,000 Speaker 1: the way through this, We're gonna skip forward and show 340 00:17:36,040 --> 00:17:39,640 Speaker 1: you the problems that we have today because the UK, 341 00:17:39,960 --> 00:17:42,680 Speaker 1: the Bank of England just broke this week. China's running 342 00:17:42,680 --> 00:17:45,520 Speaker 1: out of money, Japan's running out of money, and yes, 343 00:17:45,600 --> 00:17:48,200 Speaker 1: even the United States is running out of money. That's 344 00:17:48,200 --> 00:17:50,720 Speaker 1: why the price of everything are dropping. The money supply 345 00:17:51,040 --> 00:17:53,440 Speaker 1: is decreasing. So we're gonna talk about that and more. 346 00:17:53,480 --> 00:17:55,760 Speaker 1: You're listening to the Mark Moss Show. We talked about 347 00:17:55,920 --> 00:17:58,080 Speaker 1: the decentralized Revolution, trying to explain to you the way 348 00:17:58,119 --> 00:18:00,160 Speaker 1: the world is changing right now, and you better be prepared. 349 00:18:00,320 --> 00:18:01,879 Speaker 1: I got a whole lot to cover when I get back, 350 00:18:01,920 --> 00:18:04,119 Speaker 1: so don't go away, all right, Welcome back. You are 351 00:18:04,200 --> 00:18:06,440 Speaker 1: listening to the Mark Moas Show, and we are talking 352 00:18:06,480 --> 00:18:09,679 Speaker 1: about We're talking about the world changing right before your 353 00:18:09,760 --> 00:18:11,960 Speaker 1: very eyes. And if you're not paying attention, maybe you 354 00:18:11,960 --> 00:18:13,959 Speaker 1: don't understand what's going on. So we look at it 355 00:18:14,400 --> 00:18:17,480 Speaker 1: through the lens of politics, finance, and technology. And today 356 00:18:17,480 --> 00:18:21,240 Speaker 1: we're talking about the financial markets. Um, they've broken this week, 357 00:18:21,880 --> 00:18:24,119 Speaker 1: and we're talking about how we got here. So what 358 00:18:24,240 --> 00:18:28,080 Speaker 1: happened is uh, all this gold was needed to fight 359 00:18:28,119 --> 00:18:30,680 Speaker 1: the war. The United States basically stayed out of the war. 360 00:18:30,760 --> 00:18:33,200 Speaker 1: It was all happening over in Europe, and so England 361 00:18:33,240 --> 00:18:36,000 Speaker 1: and France and Germany, Russia, they're all fighting, they're all 362 00:18:36,000 --> 00:18:39,240 Speaker 1: destroying each other's um countries. The US is over here 363 00:18:39,560 --> 00:18:41,600 Speaker 1: um getting rich because we have all the we can make, 364 00:18:41,600 --> 00:18:43,679 Speaker 1: all the food, we have all the energy. We're selling 365 00:18:43,680 --> 00:18:45,840 Speaker 1: all this stuff over to Europe, and so as we're 366 00:18:45,920 --> 00:18:49,040 Speaker 1: sending them all the supplies for the war, they're sending 367 00:18:49,119 --> 00:18:52,480 Speaker 1: us all the gold. And at the end of the war, 368 00:18:53,280 --> 00:18:55,439 Speaker 1: the US, at the end of World War two, the 369 00:18:55,520 --> 00:18:58,280 Speaker 1: US had all the gold because they stayed out of 370 00:18:58,280 --> 00:19:00,520 Speaker 1: the war for the most part. They got engaged later, 371 00:19:01,119 --> 00:19:03,399 Speaker 1: but for the most part, and we didn't are the 372 00:19:03,400 --> 00:19:05,359 Speaker 1: war happened in Europe, so the United States didn't get 373 00:19:05,400 --> 00:19:08,160 Speaker 1: torn down, we didn't get d industrialized, so we didn't 374 00:19:08,160 --> 00:19:10,359 Speaker 1: need all the money to rebuild everything. But over in 375 00:19:10,400 --> 00:19:14,000 Speaker 1: Europe they destroyed everybody's countries. They spent all their gold, 376 00:19:14,440 --> 00:19:15,959 Speaker 1: and now they had to rebuild everything, and they had 377 00:19:15,960 --> 00:19:18,119 Speaker 1: these massive debts. So the US ended up with the 378 00:19:18,160 --> 00:19:21,520 Speaker 1: majority about of the gold in the world at the time. 379 00:19:22,040 --> 00:19:25,320 Speaker 1: And so they said, okay, hey, here's the new standards, 380 00:19:25,359 --> 00:19:27,720 Speaker 1: a Breton Wood system. The US has all the gold, 381 00:19:27,840 --> 00:19:31,119 Speaker 1: they'll create the dollar peg to the gold, and uh, 382 00:19:31,240 --> 00:19:33,360 Speaker 1: we'll create our own currencies, but will peg them back 383 00:19:33,400 --> 00:19:37,600 Speaker 1: to the dollar. Now, the dollar, being the reserve currency 384 00:19:37,600 --> 00:19:41,520 Speaker 1: of the world, has to supply the dollars to the world. Remember, 385 00:19:42,040 --> 00:19:44,600 Speaker 1: the more money that comes out, the more we have booms. 386 00:19:44,760 --> 00:19:48,480 Speaker 1: When the money supply contracts, we have bus So the 387 00:19:48,840 --> 00:19:51,720 Speaker 1: Federal Reserve starts printing money, they start shipping these dollars 388 00:19:51,760 --> 00:19:55,280 Speaker 1: all around the world. The problem is that it's a balance. 389 00:19:55,440 --> 00:19:57,880 Speaker 1: As we talked about, right, when you create more money, 390 00:19:57,920 --> 00:20:00,280 Speaker 1: when you increase the money supply, that's called infla aation, 391 00:20:00,920 --> 00:20:03,480 Speaker 1: all right, when you create inflation, when you inflate the 392 00:20:03,480 --> 00:20:08,000 Speaker 1: money supply, yes you get growth. Yes you get economic booms. 393 00:20:08,320 --> 00:20:13,359 Speaker 1: You also get inflation. You get both because now we 394 00:20:13,400 --> 00:20:17,679 Speaker 1: have more money chasing goods, and so the prices of 395 00:20:17,720 --> 00:20:22,320 Speaker 1: those goods go up. Now, if hypothetically, if this is 396 00:20:22,359 --> 00:20:24,399 Speaker 1: what this is what the central Bank dreams about, the 397 00:20:24,400 --> 00:20:28,000 Speaker 1: federals or of dreams about, if hypothetically we could I 398 00:20:28,000 --> 00:20:30,440 Speaker 1: say hypothetically, it's their goal. I say hypothetically, cause we 399 00:20:30,520 --> 00:20:34,080 Speaker 1: never get there. Hypothetically, if we could increase the money 400 00:20:34,080 --> 00:20:36,480 Speaker 1: supply by two percent, per year. That's their goal to 401 00:20:36,600 --> 00:20:41,840 Speaker 1: percent inflation. And we could grow the economy, meaning the 402 00:20:42,160 --> 00:20:44,440 Speaker 1: grow the amount of goods and services being created by 403 00:20:44,440 --> 00:20:47,960 Speaker 1: two percent a year, then we wouldn't actually have inflation. 404 00:20:48,640 --> 00:20:51,240 Speaker 1: We would be just we would be created more money 405 00:20:51,320 --> 00:20:53,919 Speaker 1: at the same rate as goods and services. Would be 406 00:20:53,920 --> 00:20:57,440 Speaker 1: perfect equilibrium. It'd be utopia. The problem is, there's no 407 00:20:57,480 --> 00:20:59,840 Speaker 1: such thing as utopia, and that's not how it works. 408 00:20:59,840 --> 00:21:02,720 Speaker 1: And so we get to the situation where they're having 409 00:21:02,720 --> 00:21:04,760 Speaker 1: to print more money and more money and more money, 410 00:21:04,840 --> 00:21:07,359 Speaker 1: but we're not getting the goods and services to grow 411 00:21:07,400 --> 00:21:09,960 Speaker 1: along with it, and we get inflation. So inflation gets 412 00:21:10,000 --> 00:21:11,880 Speaker 1: too high. Well, we gotta pull back on the money 413 00:21:11,880 --> 00:21:16,199 Speaker 1: supply boom, we get a crash. Everything crashes and no 414 00:21:16,200 --> 00:21:18,000 Speaker 1: one can afford to live. We're in the Great Depression, 415 00:21:18,320 --> 00:21:20,400 Speaker 1: and so okay, well, let's let's print more money. Against 416 00:21:20,440 --> 00:21:22,359 Speaker 1: we print more money again, things start going good again. 417 00:21:22,400 --> 00:21:24,640 Speaker 1: We're going to another big boom. Houses are being built, 418 00:21:24,680 --> 00:21:28,240 Speaker 1: cars being built, businesses are being formed. Uh. But then 419 00:21:28,640 --> 00:21:30,960 Speaker 1: we printed too much money more than the goods and services, 420 00:21:31,000 --> 00:21:32,919 Speaker 1: and so we have too much inflation and we have 421 00:21:33,000 --> 00:21:36,320 Speaker 1: to pull back on the lever again. Sound familiar. That's 422 00:21:36,320 --> 00:21:38,760 Speaker 1: exactly where we're at today. Inflation is raging high because 423 00:21:38,760 --> 00:21:42,160 Speaker 1: we've printed way too much money, and now they're pulling 424 00:21:42,200 --> 00:21:45,040 Speaker 1: back on the money supply. And you're watching your retirement 425 00:21:45,080 --> 00:21:48,879 Speaker 1: account drink, you're watching your home valuation shrink, You're watching 426 00:21:48,960 --> 00:21:54,040 Speaker 1: everything shrink because they're pulling back on the money supply. Now, 427 00:21:54,320 --> 00:21:57,680 Speaker 1: if this sounds a little bit insane, you would be correct. 428 00:21:57,800 --> 00:22:01,479 Speaker 1: It is absolutely insane. As a matter of fact, nobody 429 00:22:01,520 --> 00:22:03,280 Speaker 1: should have the power to do this. Nobody should have 430 00:22:03,320 --> 00:22:08,000 Speaker 1: the power to um increase and decrease the monetary supply 431 00:22:08,520 --> 00:22:14,159 Speaker 1: um just arbitrarily in my opinion. Anyway, Now, this is 432 00:22:14,440 --> 00:22:20,000 Speaker 1: the most important situation in the world right now. All right, 433 00:22:20,480 --> 00:22:22,760 Speaker 1: the bank Ammadians broke, and I believe the central banks 434 00:22:22,800 --> 00:22:25,000 Speaker 1: around the world are also going to break. We're witnessing 435 00:22:25,000 --> 00:22:27,720 Speaker 1: the sovereign debt bubble. So let's kind of go through 436 00:22:27,760 --> 00:22:30,359 Speaker 1: this a little bit to kind of frame this up. 437 00:22:30,880 --> 00:22:33,440 Speaker 1: All right, So before we go through that, I mean, 438 00:22:33,520 --> 00:22:36,000 Speaker 1: we can just see all here we go. Let's go 439 00:22:36,040 --> 00:22:38,520 Speaker 1: through this, so to kind of frame this up a 440 00:22:38,560 --> 00:22:41,040 Speaker 1: little bit. Um, Like I said, you kind of have 441 00:22:41,040 --> 00:22:43,040 Speaker 1: to understand the central banks operates. We've kind of gone 442 00:22:43,080 --> 00:22:45,800 Speaker 1: through that. The goal of the Federal Reserve, the Central 443 00:22:45,840 --> 00:22:49,760 Speaker 1: Bank is is two things, stable prices and full employment. 444 00:22:50,280 --> 00:22:52,600 Speaker 1: Now I'd say they're doing pretty bad at both of those. 445 00:22:52,640 --> 00:22:55,399 Speaker 1: We certainly don't have stable prices. When the price of 446 00:22:55,440 --> 00:22:57,760 Speaker 1: your home and the price of your stock goes up 447 00:22:57,960 --> 00:23:05,160 Speaker 1: by it, that's certainly the opposite of stable prices. Um, 448 00:23:05,280 --> 00:23:08,560 Speaker 1: But that's what their goals. So they're they're they're effectively 449 00:23:08,680 --> 00:23:11,800 Speaker 1: failing at that. Now. What's happened is, again, um, we 450 00:23:11,880 --> 00:23:14,920 Speaker 1: had way too much money created, way too much inflation. 451 00:23:14,960 --> 00:23:18,400 Speaker 1: So the central banks, the feder Reserve, they start raising rates. Right, 452 00:23:18,720 --> 00:23:22,240 Speaker 1: they're tightening monetary system now. Because we live in a 453 00:23:22,280 --> 00:23:25,000 Speaker 1: debt based monetary system. That means, you know, you hear 454 00:23:25,040 --> 00:23:28,159 Speaker 1: about the central banks are going to print money. They 455 00:23:28,160 --> 00:23:30,679 Speaker 1: don't really print money. What they do is they lower rates. 456 00:23:30,920 --> 00:23:34,080 Speaker 1: Because we're in a debt based system. Money is created 457 00:23:34,119 --> 00:23:36,000 Speaker 1: through debt. So when you go to the bank to 458 00:23:36,000 --> 00:23:38,280 Speaker 1: get a loan for a house, a car, a boat, whatever, 459 00:23:38,359 --> 00:23:43,440 Speaker 1: that money is created into existence. Money is created into 460 00:23:43,480 --> 00:23:46,160 Speaker 1: existence when you take a loan. So when they start 461 00:23:46,200 --> 00:23:48,119 Speaker 1: tightening things, when the Fed starts are raising rates, you 462 00:23:48,160 --> 00:23:50,359 Speaker 1: hear about this. They start raising rates well then people 463 00:23:50,600 --> 00:23:57,119 Speaker 1: borrow less. Less money is being created into existence now 464 00:23:57,359 --> 00:24:02,320 Speaker 1: all told, from about one um, central banks printed or 465 00:24:02,640 --> 00:24:07,840 Speaker 1: pumped in about ten trillion dollars into the system. Right, 466 00:24:07,880 --> 00:24:10,440 Speaker 1: so you get all this extra money chasing the same 467 00:24:10,480 --> 00:24:11,959 Speaker 1: limited amounts of goods at the same time, you get 468 00:24:11,960 --> 00:24:14,800 Speaker 1: all these supply chain disruptions to get less goods. You 469 00:24:14,880 --> 00:24:20,359 Speaker 1: get massive amounts of inflation. Now we have witnessed both 470 00:24:20,440 --> 00:24:23,120 Speaker 1: the central banks, and so the main central banks really 471 00:24:23,720 --> 00:24:26,280 Speaker 1: would be like Tier one central banks. And so of 472 00:24:26,320 --> 00:24:28,360 Speaker 1: course the Federal Reserve sits at the top of that. 473 00:24:28,640 --> 00:24:30,320 Speaker 1: The reason why the federal reserves is to the top 474 00:24:30,359 --> 00:24:33,120 Speaker 1: of that is because the dollar is the reserve currency 475 00:24:33,200 --> 00:24:39,439 Speaker 1: of the world. About eight percent of transactions are in 476 00:24:39,560 --> 00:24:41,959 Speaker 1: the dollar currency, so it takes up with that. As 477 00:24:41,960 --> 00:24:43,560 Speaker 1: a matter of fact, the USD is involved in over 478 00:24:43,680 --> 00:24:47,600 Speaker 1: ninetent of currency transaction, the Euro is involved in twenty 479 00:24:48,119 --> 00:24:51,480 Speaker 1: of currency transactions, and the Japanese yen is involved in 480 00:24:51,480 --> 00:24:55,200 Speaker 1: about seventeen percent. So those three banks, the FED for 481 00:24:55,240 --> 00:24:57,760 Speaker 1: the United States, the ECB, European Central Bank, and the 482 00:24:57,760 --> 00:25:01,359 Speaker 1: Bank of Japan are the three main banks. Bank of 483 00:25:01,400 --> 00:25:03,919 Speaker 1: England is the next one. They're the fourth one in 484 00:25:04,040 --> 00:25:07,480 Speaker 1: line there, and so they've created way too much money, 485 00:25:07,680 --> 00:25:09,840 Speaker 1: and so they had to start raising rates. And what 486 00:25:09,840 --> 00:25:13,080 Speaker 1: we witnessed is these knee jerk reactions. I said, I've 487 00:25:13,080 --> 00:25:15,400 Speaker 1: said it before. If you tune in regularly, UM. If 488 00:25:15,400 --> 00:25:18,119 Speaker 1: you don't, you should. UM. Also you can check me 489 00:25:18,119 --> 00:25:20,040 Speaker 1: out on YouTube to search Mark Moss on YouTube. And 490 00:25:20,080 --> 00:25:24,280 Speaker 1: I put these shows on YouTube on my Market Disruptives 491 00:25:24,320 --> 00:25:25,960 Speaker 1: channel if you want to watch me and listen to 492 00:25:25,960 --> 00:25:28,000 Speaker 1: me at the same time. And so they don't have 493 00:25:28,119 --> 00:25:29,879 Speaker 1: the precision of a of a of a surgeon with 494 00:25:29,920 --> 00:25:33,000 Speaker 1: the scalpel. Instead, they just have these knee jerk reactions. 495 00:25:33,000 --> 00:25:38,280 Speaker 1: And so what we witnessed is that they they dropped 496 00:25:38,480 --> 00:25:42,320 Speaker 1: rates at the fastest rate in history. They didn't do 497 00:25:42,359 --> 00:25:45,240 Speaker 1: it orderly, they didn't do it intentionally, they didn't it thoughtfully. 498 00:25:45,359 --> 00:25:47,960 Speaker 1: They just dropped them as fast as they can. Let's 499 00:25:47,960 --> 00:25:50,719 Speaker 1: just get the quid in the system. And then instead 500 00:25:50,760 --> 00:25:54,800 Speaker 1: of adjusting when they were getting them the moves they wanted, 501 00:25:55,040 --> 00:25:58,240 Speaker 1: they left him there for way too long. And then 502 00:25:58,480 --> 00:26:01,760 Speaker 1: what we're witnessing is the three of the three of 503 00:26:01,800 --> 00:26:05,560 Speaker 1: these main banks now are going through a monetary tightening 504 00:26:05,600 --> 00:26:10,160 Speaker 1: cycle at the fastest rate in history. So It's not 505 00:26:10,240 --> 00:26:13,679 Speaker 1: just like this orderly, thoughtful decrease and then a thoughtful, 506 00:26:13,800 --> 00:26:17,320 Speaker 1: orderly increase. No, this is a panic. It's a panic. 507 00:26:17,840 --> 00:26:20,320 Speaker 1: They have accomplished moves that would typically take about three 508 00:26:20,440 --> 00:26:24,479 Speaker 1: years to happen, and they've done it in months. All right. 509 00:26:24,680 --> 00:26:29,159 Speaker 1: The problem is is that we're in a debt based system. 510 00:26:29,240 --> 00:26:33,600 Speaker 1: So all the governments, the United States, the UK, the EU, 511 00:26:33,760 --> 00:26:36,680 Speaker 1: they need debt. Right, We're all spending more than we make. 512 00:26:36,800 --> 00:26:39,520 Speaker 1: We run these deficits and so we need to keep 513 00:26:39,600 --> 00:26:44,159 Speaker 1: borrowing money. But when you increase the borrowing rates and 514 00:26:44,240 --> 00:26:48,520 Speaker 1: then what happens, things start to break. You can start 515 00:26:48,920 --> 00:26:51,560 Speaker 1: not you're not able to afford those things. Now, if 516 00:26:51,600 --> 00:26:54,560 Speaker 1: we look at the United States, for example, we've seen 517 00:26:54,600 --> 00:26:57,280 Speaker 1: the two year treasury that's the that's the amount of interest, 518 00:26:57,320 --> 00:27:00,200 Speaker 1: the pay go from zero point to five percent to 519 00:27:00,440 --> 00:27:04,400 Speaker 1: four per cent, and the SMP dropped from thirty six. 520 00:27:05,680 --> 00:27:07,160 Speaker 1: Oh man, I got a lot to cover. I'm trying 521 00:27:07,160 --> 00:27:09,320 Speaker 1: to talk really fast. You're listening to the Marktmas show. 522 00:27:09,320 --> 00:27:11,400 Speaker 1: I'm explaining what's going on in the world and how 523 00:27:11,440 --> 00:27:13,639 Speaker 1: this debt bubble is bursting. I got a lot more 524 00:27:13,680 --> 00:27:15,320 Speaker 1: to cover when I come back. You do not want 525 00:27:15,359 --> 00:27:18,120 Speaker 1: to miss it. Don't go away, all right, welcome back. 526 00:27:18,160 --> 00:27:21,959 Speaker 1: You are listening to the Markma Show, where always talking 527 00:27:22,000 --> 00:27:24,720 Speaker 1: about the decentralized revolution, the way the world is changing 528 00:27:24,880 --> 00:27:27,080 Speaker 1: right now before very eyes through the lens of politics, 529 00:27:27,119 --> 00:27:30,439 Speaker 1: finance and technology. Today right now we are talking about 530 00:27:31,440 --> 00:27:34,720 Speaker 1: the Bank of England has broken. That's what we're talking about. 531 00:27:35,160 --> 00:27:37,960 Speaker 1: And I was explaining how we got here, and basically 532 00:27:38,040 --> 00:27:41,639 Speaker 1: what we saw is in the UK, the government United 533 00:27:41,720 --> 00:27:44,360 Speaker 1: Kingdom which has the Bank of England that runs it, uh, 534 00:27:44,400 --> 00:27:48,520 Speaker 1: they broke. And basically what happened is again they they 535 00:27:48,800 --> 00:27:51,560 Speaker 1: they ease situations by dropping rates at the fast rate 536 00:27:51,560 --> 00:27:54,120 Speaker 1: in history, and then they raised rates at the fast 537 00:27:54,240 --> 00:27:56,639 Speaker 1: rate in history. No big deal, let's just panic and 538 00:27:56,680 --> 00:27:59,840 Speaker 1: see what happens. That maybe something will break and what happens. 539 00:28:00,119 --> 00:28:04,440 Speaker 1: At the same time, the UK government switched the parliament 540 00:28:04,440 --> 00:28:05,920 Speaker 1: switch and so again we have to look at the 541 00:28:05,920 --> 00:28:10,200 Speaker 1: political side. And so Boris Johnson stepped down and we 542 00:28:10,320 --> 00:28:13,280 Speaker 1: got a new person in of course, that's Liz Trust. 543 00:28:13,600 --> 00:28:16,760 Speaker 1: She's come in and she's determined to of course make 544 00:28:16,840 --> 00:28:20,639 Speaker 1: things better. Who wouldn't want to make things better? List Trust, 545 00:28:20,680 --> 00:28:25,359 Speaker 1: the United Kingdom's new Prime Minister, UM unfortunately came in 546 00:28:25,480 --> 00:28:28,920 Speaker 1: and took over a very difficult situation, a time when 547 00:28:30,160 --> 00:28:32,119 Speaker 1: a time when these debt bubbles are blowing up, and 548 00:28:32,119 --> 00:28:35,360 Speaker 1: there's really no choice. If you don't keep pumping them 549 00:28:35,400 --> 00:28:37,959 Speaker 1: full of money, they deflate, and if you do, then 550 00:28:38,040 --> 00:28:42,680 Speaker 1: you keep getting um hyper inflation. And on top of that, 551 00:28:42,720 --> 00:28:46,160 Speaker 1: they've created all these insane policies like getting rid of 552 00:28:46,200 --> 00:28:49,200 Speaker 1: all our energy, and that's part of why, or really 553 00:28:49,240 --> 00:28:52,440 Speaker 1: it's the main reason why we have so much inflation. Now. 554 00:28:52,440 --> 00:28:55,000 Speaker 1: She came in fired up, she's ready to make a change, 555 00:28:55,200 --> 00:28:58,680 Speaker 1: and she announced the largest UK tax cuts in fifty years. Now, 556 00:28:58,840 --> 00:29:01,240 Speaker 1: I think that's a good it's a good thing. UM. 557 00:29:01,280 --> 00:29:04,840 Speaker 1: Cutting taxes will leave more money with the producers, the 558 00:29:04,880 --> 00:29:07,280 Speaker 1: people that produce wealth, and you'll get more wealth because 559 00:29:07,280 --> 00:29:10,840 Speaker 1: of it. The problem is when they're already in such 560 00:29:10,880 --> 00:29:14,600 Speaker 1: a major deficit in debt, it's very difficult, your your 561 00:29:14,640 --> 00:29:17,840 Speaker 1: backs against the wall. And so even though I believe 562 00:29:17,880 --> 00:29:22,000 Speaker 1: it probably have a better long term UM result for them, 563 00:29:22,160 --> 00:29:25,760 Speaker 1: short term it hurts a short term it cuts their revenue. 564 00:29:26,280 --> 00:29:29,320 Speaker 1: The estimated costs is fifty billion dollars of revenue that 565 00:29:29,320 --> 00:29:32,160 Speaker 1: they're gonna lose on top of it at a time 566 00:29:32,200 --> 00:29:34,600 Speaker 1: because energy prices are so high, because of course they've 567 00:29:34,680 --> 00:29:36,760 Speaker 1: chosen not to get their own energy out of the ground. 568 00:29:36,760 --> 00:29:39,920 Speaker 1: Now they're they're changing that right now. But energy prices 569 00:29:39,920 --> 00:29:42,760 Speaker 1: are so high that businesses are shutting down, households are 570 00:29:42,840 --> 00:29:45,840 Speaker 1: running out of money, and so they've agreed to subsidize 571 00:29:45,840 --> 00:29:48,440 Speaker 1: those and that's an extra hundred and fifty billions. They're 572 00:29:48,480 --> 00:29:50,720 Speaker 1: gonna lose fifty billion in taxes and they have to 573 00:29:50,720 --> 00:29:52,800 Speaker 1: pay a hundred and fifty billions to subsidize the high 574 00:29:52,960 --> 00:29:56,360 Speaker 1: high prices that they've caused. So it's a serious problem 575 00:29:56,400 --> 00:29:58,680 Speaker 1: that they're in and there's really no easy way out 576 00:29:58,680 --> 00:30:00,800 Speaker 1: of these things once you get into them. In the 577 00:30:00,880 --> 00:30:03,240 Speaker 1: UK they have the serious inflation problem and this balance 578 00:30:03,240 --> 00:30:05,520 Speaker 1: of payments problem. Like I said that the sore and 579 00:30:05,600 --> 00:30:09,160 Speaker 1: energy prices inflations at double digit levels in the United 580 00:30:09,160 --> 00:30:11,880 Speaker 1: States were just over eight percent, well that's per the 581 00:30:11,880 --> 00:30:14,760 Speaker 1: official number, much higher than that, but in the UK 582 00:30:14,840 --> 00:30:17,480 Speaker 1: they're over double digits, the worst that's been in forty years, 583 00:30:17,480 --> 00:30:20,240 Speaker 1: similar to like what we have right here. Their their 584 00:30:20,280 --> 00:30:23,440 Speaker 1: currency has lost twenty percent of its value to the 585 00:30:23,560 --> 00:30:27,280 Speaker 1: US dollar, and so the Bank of England, which is 586 00:30:27,280 --> 00:30:29,560 Speaker 1: the central bank for the UK is stuck in this 587 00:30:30,120 --> 00:30:32,280 Speaker 1: rock and a hard place, the same all central banks are. 588 00:30:32,320 --> 00:30:35,760 Speaker 1: They they backed themselves into this corner and if they 589 00:30:35,800 --> 00:30:39,880 Speaker 1: failed to raise rates aggressively enough, then inflation is going 590 00:30:39,920 --> 00:30:42,320 Speaker 1: to continue to raise on as their currency los device. 591 00:30:42,400 --> 00:30:44,720 Speaker 1: So that it works both ways, so as the currency 592 00:30:44,840 --> 00:30:47,840 Speaker 1: is losing value, the currency is buying less goods and services, 593 00:30:48,400 --> 00:30:51,719 Speaker 1: the inflation goes up. So those those work opposite, right, 594 00:30:52,120 --> 00:30:54,760 Speaker 1: So as prices go higher, what it really means is 595 00:30:54,800 --> 00:30:57,840 Speaker 1: your dollar or your currency is buying you less. So 596 00:30:57,920 --> 00:31:01,960 Speaker 1: the currency is crashing, prices are going up. It's really 597 00:31:01,960 --> 00:31:05,200 Speaker 1: the same thing. It's opposite sides, makes sense, and so 598 00:31:05,480 --> 00:31:09,760 Speaker 1: they start raising interest rates to try to shore up 599 00:31:09,760 --> 00:31:14,120 Speaker 1: the currency and bring inflation back down. But the problem 600 00:31:14,200 --> 00:31:16,400 Speaker 1: is is that the borrowing costs gets so high that 601 00:31:16,440 --> 00:31:20,400 Speaker 1: the country's public finances are even worse. And so what 602 00:31:20,520 --> 00:31:23,440 Speaker 1: happened is as it started crashing, the currency started crashing, 603 00:31:23,920 --> 00:31:26,800 Speaker 1: the bond market, which a lot of pensions are in 604 00:31:26,840 --> 00:31:29,120 Speaker 1: the bond market started crashing. So all the people that 605 00:31:29,160 --> 00:31:31,920 Speaker 1: are planning on retiring in the UK one day that 606 00:31:32,000 --> 00:31:35,720 Speaker 1: have their pension funds in there, they were all going busts. 607 00:31:36,200 --> 00:31:39,520 Speaker 1: People were about to lose all of their money, and 608 00:31:39,600 --> 00:31:42,320 Speaker 1: most likely they will. It's probably gonna happen to you 609 00:31:42,320 --> 00:31:44,400 Speaker 1: in the United States as well, So take this as 610 00:31:44,440 --> 00:31:49,120 Speaker 1: a warning. You have your money, your retirement Where is 611 00:31:49,200 --> 00:31:52,760 Speaker 1: that money? Where is your retirement account? Most likely, if 612 00:31:52,760 --> 00:31:57,600 Speaker 1: you've listened to your financial advisor, it's six stocks, it's bonds. 613 00:31:57,760 --> 00:32:01,320 Speaker 1: Where are those bonds? That bond is dead? Who has 614 00:32:01,360 --> 00:32:03,640 Speaker 1: that debt? What if they can't afford to pay you? 615 00:32:04,040 --> 00:32:06,680 Speaker 1: Then it goes bust? So they have some of this, 616 00:32:06,960 --> 00:32:09,320 Speaker 1: some of these pensioners have. There's debt in the Bank 617 00:32:09,360 --> 00:32:12,760 Speaker 1: of England, I'm sorry with the UK, and it was 618 00:32:12,800 --> 00:32:15,120 Speaker 1: all going bust and so the UK had no choice 619 00:32:15,120 --> 00:32:17,880 Speaker 1: but to step in and to start to pump it 620 00:32:17,920 --> 00:32:21,160 Speaker 1: back up. They had no choice, which is exactly what 621 00:32:21,280 --> 00:32:23,440 Speaker 1: the United States will be forced to at some point 622 00:32:23,480 --> 00:32:26,200 Speaker 1: as well. The problem is is that the Bank of 623 00:32:26,240 --> 00:32:28,840 Speaker 1: England is the first major central bank to be broken 624 00:32:28,880 --> 00:32:32,400 Speaker 1: by the markets. They had to announce that they're going 625 00:32:32,440 --> 00:32:38,200 Speaker 1: to begin unlimited, quantitative easy, unlimited money printing into the 626 00:32:38,240 --> 00:32:43,160 Speaker 1: market to support these UK bonds. So now they've basically, 627 00:32:43,160 --> 00:32:45,360 Speaker 1: as I said from the beginning, they've pushed their chips 628 00:32:45,480 --> 00:32:48,800 Speaker 1: all in. We're all in. They said unlimited. We're going 629 00:32:48,840 --> 00:32:51,720 Speaker 1: to do unlimited to support it. So that's good, right, 630 00:32:52,680 --> 00:32:56,200 Speaker 1: The sovereign bonds dropped, the yields dropped, and the dollar, 631 00:32:56,560 --> 00:32:59,560 Speaker 1: or not the dollar, their pound, their pounds started rallying. 632 00:33:00,000 --> 00:33:02,600 Speaker 1: It we have the support from the central bank. The 633 00:33:02,680 --> 00:33:06,280 Speaker 1: pound is rallying. It shows that it's liking that all right. 634 00:33:06,720 --> 00:33:12,080 Speaker 1: But what happens from this point is absolutely critical because 635 00:33:12,200 --> 00:33:15,640 Speaker 1: they're all in. So if the yield on those UK 636 00:33:15,760 --> 00:33:19,480 Speaker 1: bonds start going back up again, and subsequently the British 637 00:33:19,520 --> 00:33:23,520 Speaker 1: pound starts collapsing again, it means the Bank of England 638 00:33:23,600 --> 00:33:28,240 Speaker 1: has lost all credibility because they're all in. So we 639 00:33:28,280 --> 00:33:30,560 Speaker 1: would be talking about a major central bank for a 640 00:33:30,600 --> 00:33:35,200 Speaker 1: developed nation losing credibility with the markets now at the 641 00:33:35,200 --> 00:33:37,000 Speaker 1: point of this recording, right now, it's too early to 642 00:33:37,040 --> 00:33:40,120 Speaker 1: tell this just happened. But this is the most important 643 00:33:40,120 --> 00:33:44,680 Speaker 1: situation in the world right now. I'm gonna say that again. 644 00:33:44,760 --> 00:33:47,040 Speaker 1: This is the most important situation in the world right now. 645 00:33:47,080 --> 00:33:50,280 Speaker 1: If things go south from here, the UK is gonna 646 00:33:50,320 --> 00:33:54,320 Speaker 1: go bust. What does that mean? What does that mean? 647 00:33:55,120 --> 00:33:58,520 Speaker 1: We're seeing, we're waiting, we're witnessing the British pound falling 648 00:33:58,720 --> 00:34:02,200 Speaker 1: so fast that aclin is um, we'll say worrisome to 649 00:34:02,200 --> 00:34:07,600 Speaker 1: think the least that they've said they'll do whatever it takes. Now, 650 00:34:07,640 --> 00:34:09,480 Speaker 1: you would think by them saying that would actually have 651 00:34:09,520 --> 00:34:13,000 Speaker 1: a bigger impact, but it's not. Now some of you 652 00:34:13,080 --> 00:34:16,120 Speaker 1: might be asking, well, it seems like stocks rallied this week, 653 00:34:17,040 --> 00:34:22,120 Speaker 1: and they did, so why did stocks rally off of that? Well? One, 654 00:34:22,320 --> 00:34:25,760 Speaker 1: I think investors foolishly think that the Bank of England, 655 00:34:26,160 --> 00:34:29,319 Speaker 1: if the Bank of England was forced to pivot from 656 00:34:29,360 --> 00:34:32,920 Speaker 1: their tightening um and they're gonna start easing, pushing the 657 00:34:32,960 --> 00:34:34,600 Speaker 1: market back up, then the Fed is probably gonna do 658 00:34:34,640 --> 00:34:36,600 Speaker 1: the same. Right, everyone's waiting for the Fed to pivot. 659 00:34:36,920 --> 00:34:40,800 Speaker 1: When will the Fed pivot? Um? And I don't I 660 00:34:41,080 --> 00:34:42,799 Speaker 1: don't know if if people think that's a good idea 661 00:34:42,840 --> 00:34:45,839 Speaker 1: to go along stocks when central banks are literally on 662 00:34:45,960 --> 00:34:49,440 Speaker 1: the verge of losing credibility because if they don't, if 663 00:34:49,440 --> 00:34:54,359 Speaker 1: this doesn't work, this whole system is coming crashing down. Now. 664 00:34:54,520 --> 00:34:56,680 Speaker 1: What's interesting is, as this whole system is about to 665 00:34:56,719 --> 00:35:00,319 Speaker 1: come crashing down, Bitcoin seems to be whole en up 666 00:35:00,320 --> 00:35:04,880 Speaker 1: pretty good. As a matter of fact, Bitcoin is um 667 00:35:04,960 --> 00:35:07,360 Speaker 1: kind of pumping on the news. I I don't like 668 00:35:07,400 --> 00:35:09,239 Speaker 1: to use the word pumping because it's not moving by 669 00:35:09,280 --> 00:35:13,240 Speaker 1: a whole lot, but it seems to be responding favorably 670 00:35:13,239 --> 00:35:15,760 Speaker 1: to this. Now, you might remember that bitcoin was created 671 00:35:15,800 --> 00:35:19,040 Speaker 1: in two eight at the Great financial Crash. In the 672 00:35:19,239 --> 00:35:21,799 Speaker 1: very first line of code that the creator sat Toshi 673 00:35:21,880 --> 00:35:25,080 Speaker 1: Nakamoto put forward, he put a message in the code 674 00:35:25,400 --> 00:35:28,279 Speaker 1: and he said, the Chancellor is on the brink of 675 00:35:28,320 --> 00:35:33,000 Speaker 1: a second bailout. It was created specifically for the crash 676 00:35:33,080 --> 00:35:35,880 Speaker 1: of two eight. And here we are the crash of 677 00:35:37,000 --> 00:35:40,840 Speaker 1: potentially maybe it, maybe it might last. And here we 678 00:35:40,920 --> 00:35:46,920 Speaker 1: have Bitcoin ready to go. Now, as the central bankers 679 00:35:46,960 --> 00:35:50,719 Speaker 1: start losing, continue losing credibility through at the end of 680 00:35:50,719 --> 00:35:53,920 Speaker 1: the rope. Now we're already seeing them collapse in Lebanon 681 00:35:54,040 --> 00:35:58,200 Speaker 1: and Argentina and Peru and Ecuador and Sri Lanka. We 682 00:35:58,280 --> 00:36:00,440 Speaker 1: already seen them collapse on all those those are tier three, 683 00:36:00,520 --> 00:36:02,880 Speaker 1: tier four. But when it happens in the Bank of 684 00:36:02,880 --> 00:36:06,920 Speaker 1: England and a tier to central bank, people realize the 685 00:36:06,960 --> 00:36:08,960 Speaker 1: game is up. How about we have a system with 686 00:36:09,040 --> 00:36:13,360 Speaker 1: no central bankers, with no one's ability to inflate and 687 00:36:13,480 --> 00:36:15,640 Speaker 1: deflate the money supply at will and that's exactly what 688 00:36:15,680 --> 00:36:17,600 Speaker 1: Big One is intended to do. That's what it's here for. 689 00:36:17,920 --> 00:36:19,680 Speaker 1: You've been listening to the Mark ma Show explaining to 690 00:36:19,719 --> 00:36:22,040 Speaker 1: you what is going on. The most dangerous situation in 691 00:36:22,080 --> 00:36:24,919 Speaker 1: the world today, the Bank of England is breaking. Get better, 692 00:36:25,000 --> 00:36:26,640 Speaker 1: keep your eye on up because it is going to 693 00:36:26,719 --> 00:36:28,800 Speaker 1: affect you no matter where you're at in the world. 694 00:36:29,440 --> 00:36:31,280 Speaker 1: And that's what I got. Thanks so much for listening.