WEBVTT - Educating The Gap School Leaves Missing | Phil Denniston 0:00:13.680 --> 0:00:16.040 If you're watching this channel, then you already know that 0:00:16.280 --> 0:00:20.040 I put a massive premium onto education. I constantly pound 0:00:20.079 --> 0:00:23.119 the table on one pouring into our own education. And 0:00:23.160 --> 0:00:26.120 two that's why I like to teach information or education, 0:00:26.400 --> 0:00:28.639 So not only do I help share it, but I 0:00:28.720 --> 0:00:32.360 learn it even better. Education sits at the beginning of 0:00:32.520 --> 0:00:35.040 everything that we have. We need a curious mind to 0:00:35.120 --> 0:00:37.840 go seek the education, and it's the key to having 0:00:37.920 --> 0:00:41.360 success in every area of our life. Now, unfortunately, our 0:00:41.400 --> 0:00:44.800 school systems have taken the creativity out of us. They've 0:00:44.840 --> 0:00:50.080 taken the desire, the fun of building our own education out. 0:00:51.000 --> 0:00:52.560 But there's a way that we can get it back. 0:00:52.960 --> 0:00:56.040 There's people that are actively working on this. Now. You've 0:00:56.080 --> 0:00:57.920 heard the saying that you can't teach an old dog 0:00:57.960 --> 0:01:01.640 new tricks, and so rather we learned, we'd rather start 0:01:01.720 --> 0:01:04.759 teaching people how to learn properly at a young age. 0:01:05.080 --> 0:01:07.399 And that's what we're talking about today with today's guest. 0:01:07.680 --> 0:01:10.800 He saw the problem and he has found a solution. 0:01:10.840 --> 0:01:14.040 You came up with his own solution to find the 0:01:14.080 --> 0:01:17.000 things that need to be taught, um adapt them to 0:01:17.240 --> 0:01:20.559 a younger audience, and we dig in how that's being done. 0:01:20.600 --> 0:01:24.480 How the idea came out. How he's reshaping the future 0:01:24.640 --> 0:01:28.000 right now today, how you can use some of these 0:01:28.000 --> 0:01:31.720 tools to help reshape your future. The future so much 0:01:31.720 --> 0:01:33.800 good stuff to jump into, so let's go go ahead 0:01:33.840 --> 0:01:36.520 and get into it. Hey, everyone, welcome to the episode 0:01:36.560 --> 0:01:38.520 of the Market Disruptor Show on today. I'm joined by 0:01:38.600 --> 0:01:41.360 Phil Denniston. He is the founder of the publisher of 0:01:41.440 --> 0:01:47.440 Bad Daddy Publishing, something that I'm very excited about its education, 0:01:47.600 --> 0:01:51.800 but for a very very specific demographic we're talking about today. Phil, 0:01:51.840 --> 0:01:54.320 thanks so much for joining us. You bet market it's 0:01:54.360 --> 0:01:56.120 a pleasure to be here. I found you about eight 0:01:56.160 --> 0:01:58.320 twelve months ago, and you become quickly one of my 0:01:58.360 --> 0:02:03.320 favorite content creators. High quality, high quantity. I love awesome, Phil, 0:02:03.320 --> 0:02:06.800 I appreciate that. Yeah, you know, um I uh, I 0:02:06.840 --> 0:02:08.760 guess I love education. I've been doing a lot of it. 0:02:08.800 --> 0:02:11.520 I think that, um education is just the most important 0:02:11.520 --> 0:02:14.560 thing in the world. And not just education, but the 0:02:14.680 --> 0:02:17.880 right the right education, I should say, um, so something 0:02:17.960 --> 0:02:21.399 I've been super passionate about for the last I I 0:02:21.440 --> 0:02:24.240 wasn't passionate about it in school, but after school I 0:02:24.240 --> 0:02:26.160 I got a passion for it, and so I love 0:02:26.200 --> 0:02:27.720 to teach it as well, and just trying to help 0:02:27.720 --> 0:02:30.120 people see different things. I know you and I have 0:02:30.120 --> 0:02:33.960 had several conversations offline, um, but for everyone who doesn't know, 0:02:34.320 --> 0:02:35.600 why don't you kind of give us a little bit 0:02:35.600 --> 0:02:37.320 of a background on what it is that you're doing, 0:02:37.360 --> 0:02:41.040 what you're working on. Yeah. Absolutely, So we published what 0:02:41.080 --> 0:02:45.160 we call Better Bedtime Stories to educate kids and really 0:02:45.200 --> 0:02:49.160 their parents too, about finance and economics and not so 0:02:49.240 --> 0:02:52.680 much the mainstream, mainstream stuff that you can get elsewhere, 0:02:52.720 --> 0:02:56.280 but really what's behind it all, which is the dead 0:02:56.280 --> 0:02:59.079 based paper money system and how it works. And that's 0:02:59.200 --> 0:03:02.240 largely eight in this country because it really needs to 0:03:02.280 --> 0:03:04.720 be because of all the shenanigans that go on behind 0:03:04.760 --> 0:03:08.920 the scenes. I myself graduated from college in two thousand 0:03:09.040 --> 0:03:13.239 with an economics degree, and they never once mentioned Austrian economics. 0:03:13.240 --> 0:03:17.120 It was all Keynesianism and monetarism, and and the tech 0:03:17.160 --> 0:03:19.880 bubble was bursting at that time, and I thought, Okay, 0:03:20.080 --> 0:03:22.520 maybe once in a lifetime the powers that be might 0:03:22.560 --> 0:03:25.000 screw up in this way. And so for eight more 0:03:25.080 --> 0:03:27.880 years I kept reading mainstream stuff, and then in two 0:03:27.919 --> 0:03:30.359 thousand and eight, housing bubble burst and I'm like, I've 0:03:30.360 --> 0:03:33.240 got to really peel back the onion and understand what's 0:03:33.280 --> 0:03:35.640 what's really happening here and why it's happening, And that 0:03:35.720 --> 0:03:37.560 sort of led me down. I think a similar path 0:03:37.640 --> 0:03:41.000 as you understanding that the FIA up money was really 0:03:41.040 --> 0:03:44.080 the issue, and kind of you know, even going deeper 0:03:44.120 --> 0:03:50.160 from there. That's interesting. So, UM, you major in economics. Um. 0:03:50.240 --> 0:03:53.000 Of course all the universities today teach some version of 0:03:53.080 --> 0:03:57.040 Kinsian economics. UM. I don't tell you that, um. And 0:03:57.120 --> 0:04:00.440 so you were trained in that. That was of your 0:04:00.480 --> 0:04:03.400 worldview or the way that you viewed economics. And so 0:04:03.720 --> 0:04:06.600 when the two thousand eight crashs happened, you thought that 0:04:07.120 --> 0:04:10.600 maybe it was just a minor problem that caused it, 0:04:10.640 --> 0:04:12.760 they got it wrong just this one time, and that 0:04:12.880 --> 0:04:14.520 it probably wouldn't happen again. Is that right? That was 0:04:14.600 --> 0:04:16.719 kind of your view at that time. So, so that 0:04:16.800 --> 0:04:19.680 was the two thousand tech bubble, and it clearly was 0:04:19.760 --> 0:04:23.000 significant and not minor. But I I thought of it, maybe, Okay, 0:04:23.000 --> 0:04:25.120 this is one of these once in a lifetime or 0:04:25.200 --> 0:04:27.800 once in a generation things where things blow up in 0:04:27.800 --> 0:04:29.840 this way and you start learning about bubbles, and they 0:04:29.880 --> 0:04:32.520 typically did used to be more like once in a generation, 0:04:32.600 --> 0:04:37.200 because once a populist was you know, understood the implications 0:04:37.200 --> 0:04:39.240 of a bubble, they were less likely to walk right 0:04:39.240 --> 0:04:42.279 into one. But the fact that we did another even 0:04:42.320 --> 0:04:45.360 bigger eight years later, with the Great Financial Crisis and 0:04:45.400 --> 0:04:48.960 the housing bubble, that's what led me to stop following 0:04:49.000 --> 0:04:52.640 the mainstream financial information, which I was very attuned in, 0:04:52.800 --> 0:04:55.480 having graduated with an eat con degree and read a 0:04:55.520 --> 0:04:57.440 lot about investing in finance. And there's a lot of 0:04:57.440 --> 0:05:01.200 good mainstream financial information, but what they don't teach you, 0:05:01.360 --> 0:05:03.640 really it is not only the Austrian school, but the 0:05:03.839 --> 0:05:06.599 the issues with Fiat money, and we really call it 0:05:06.720 --> 0:05:11.280 the the root of all the world's biggest, most intractable problems. 0:05:11.279 --> 0:05:13.640 And that kind of led me to think that these 0:05:13.680 --> 0:05:16.320 are the kinds of things that I should have learned 0:05:16.360 --> 0:05:19.799 growing up, whether from school or from my parents. And 0:05:19.880 --> 0:05:22.840 some of my my earliest memories, of course, are reading 0:05:23.040 --> 0:05:26.800 books with with my parents Dr SEUs and um, you know, 0:05:26.839 --> 0:05:29.040 the Cat and Hattan whatnot. And I thought, every night 0:05:29.080 --> 0:05:31.479 I read to my kids. I've got four kids now, 0:05:31.560 --> 0:05:34.480 ages three to twelve, and for a while, I mean, 0:05:34.760 --> 0:05:37.919 it was fun. The day the crowns quit, Uh, you 0:05:37.960 --> 0:05:41.920 know Dr Susan whatnot, But I thought would have missed opportunity. 0:05:42.360 --> 0:05:44.040 You know, we're spending an hour at night and we're 0:05:44.080 --> 0:05:46.159 having fun, but we're not learning anything. Let me see 0:05:46.200 --> 0:05:48.120 if I could teach them some of the lessons that 0:05:48.240 --> 0:05:51.080 I've learned in life the hard way, uh, and make 0:05:51.160 --> 0:05:53.920 them indelible memories in their minds in the same way 0:05:53.960 --> 0:05:56.400 that I remember, you know Dr SEUs as a kid 0:05:56.480 --> 0:05:59.520 and so um. The first one is where does money 0:05:59.520 --> 0:06:02.800 come from? It's really all about the difference between sound 0:06:02.839 --> 0:06:05.400 and fiadd money, and then we go into debt, the 0:06:05.720 --> 0:06:09.160 debt based money system money itself. You know, it has 0:06:09.200 --> 0:06:11.960 to keep growing through the issuance of new debt, as 0:06:12.000 --> 0:06:14.560 you and your audience know well. And that's why our 0:06:14.640 --> 0:06:17.720 kids are sort of poked and product and go to 0:06:17.720 --> 0:06:20.159 to get launched in the world at eighteen years old 0:06:20.240 --> 0:06:24.520 and get pulled into a broken higher education system to 0:06:24.640 --> 0:06:27.479 rack up tens of thousand dollars in debt. And so 0:06:27.560 --> 0:06:29.679 these are the things they should learn that no one's 0:06:29.680 --> 0:06:33.960 teaching him. Hey, hold up just for a second. I 0:06:34.000 --> 0:06:36.719 want to tell you about something. I just got something 0:06:36.760 --> 0:06:38.960 cool in the mail I want to show you, and 0:06:39.160 --> 0:06:42.479 it is this new sleek package I just got with 0:06:42.680 --> 0:06:46.080 a brand new credit card. This isn't just any credit card. 0:06:46.120 --> 0:06:49.600 This is a Block five credit card that's powered by 0:06:49.800 --> 0:06:53.320 Visa and it's backed by bitcoin reward. So this is 0:06:53.320 --> 0:06:55.520 a Visa card. I can use it anywhere in the 0:06:55.560 --> 0:06:58.080 world that visas accepted. And the benefit of this Block 0:06:58.120 --> 0:07:01.960 five Visa card is that I get paid back in bitcoin. 0:07:02.520 --> 0:07:04.320 Most of my other cards pay me in some sort 0:07:04.320 --> 0:07:07.760 of reward points. I get airline miles. Um, I'm not 0:07:07.839 --> 0:07:09.640 very good at using those. They end up accumulating and 0:07:09.680 --> 0:07:12.400 I'm doing anything with them, but getting to earn bitcoin 0:07:12.520 --> 0:07:15.440 back with every single purchase is of course something that 0:07:15.480 --> 0:07:17.360 matters to me. Now. I know for a lot of 0:07:17.360 --> 0:07:19.679 people they say that the price of bitcoin is too high, 0:07:19.840 --> 0:07:22.960 So I say, well, you can always earn bitcoin. You 0:07:22.960 --> 0:07:25.040 can get paid in bitcoin, or you can just get 0:07:25.360 --> 0:07:28.960 cash back rewards on every purchase paid in bitcoin with 0:07:29.000 --> 0:07:32.239 the Block fight Visa credit card used everywhere that Visa 0:07:32.400 --> 0:07:34.160 is accepted. And if you want to sign up for 0:07:34.160 --> 0:07:36.679 the Visa card that pays back in bitcoin from Blackboy, 0:07:36.880 --> 0:07:39.960 there is a link in the description down below. Check 0:07:40.000 --> 0:07:45.239 it out. Yeah, it's interesting. Um, I want to go back, 0:07:45.960 --> 0:07:47.720 you kind of ran around a little bit farther. I 0:07:47.760 --> 0:07:50.080 just want to go back a little bit, um, because 0:07:50.200 --> 0:07:52.760 I think it's important to understand. I mean, as you're saying, right, 0:07:52.800 --> 0:07:55.559 these lessons that you could have learned, or you should 0:07:55.560 --> 0:07:57.280 have learned, or you should have known, right, trying to 0:07:57.320 --> 0:08:02.080 pass that on um. And it's interesting though, like even 0:08:02.080 --> 0:08:06.040 from the kinseiean uh worldview. I mean, I guess you 0:08:06.080 --> 0:08:08.720 could say maybe two thousand was a fluke, but I 0:08:08.720 --> 0:08:12.120 guess now, I guess, not knowing what you now know. Um, 0:08:12.160 --> 0:08:14.520 looking backwards, I mean, isn't a isn't it just a 0:08:14.560 --> 0:08:17.680 series of escalating bubbles that we've just had, right? I mean, 0:08:18.680 --> 0:08:21.840 I mean we had the Black Monday in Night seven, 0:08:21.960 --> 0:08:25.000 we had the seventies crashed, the eighties seven crash, and 0:08:25.080 --> 0:08:26.600 we can go back and it's just like a series 0:08:26.600 --> 0:08:29.280 of escalating bubbles. Of course, now looking at two thousand 0:08:29.280 --> 0:08:30.840 and eight and then even what happened in two thousand 0:08:30.840 --> 0:08:32.880 twenty as reference, you can see that the bubbles just 0:08:32.920 --> 0:08:36.199 get bigger and bigger and bigger, right, exactly right, I mean, 0:08:36.240 --> 0:08:39.600 the amplitude just keeps getting bigger, and of course you 0:08:39.600 --> 0:08:42.080 know you could track it to to nineteen seventy one. 0:08:42.240 --> 0:08:44.640 I mean when when we went on, three days from today, 0:08:44.679 --> 0:08:47.800 it will be the fiftieth anniversary of the UH of 0:08:47.880 --> 0:08:51.280 the broken debt based money system. And now it's global 0:08:51.520 --> 0:08:55.880 because in history, where where countries tried fiat money or 0:08:55.920 --> 0:08:59.240 paper money, it was regional, but now it's global. And 0:08:59.320 --> 0:09:01.920 I agree with you completely. They're getting bigger and the 0:09:01.960 --> 0:09:05.400 only way to prevent more of the next one, which 0:09:05.440 --> 0:09:07.240 will be huge. I mean, we we at this point 0:09:07.320 --> 0:09:10.040 face either you know, a destruction of the currency through 0:09:10.080 --> 0:09:15.640 inflation or massive deflation correcting the decades of malinvestment that 0:09:15.679 --> 0:09:18.360 have been trying to ripple through the system in eighty 0:09:18.480 --> 0:09:21.199 seven and two thousand and two thousand and eight, and 0:09:21.200 --> 0:09:24.000 and the FED comes along and fights that with more 0:09:24.040 --> 0:09:27.520 money printing and pushing interest rates down, which just causes 0:09:27.600 --> 0:09:32.240 economic distortions. Yeah, I mean, uh, it's it's it's almost 0:09:32.240 --> 0:09:35.439 like the markets continues to try to correct itself. Um, 0:09:35.440 --> 0:09:38.000 it keeps trying to purge itself of this uh you know, 0:09:38.160 --> 0:09:40.880 this inflation that the Fed is created. And every time 0:09:40.880 --> 0:09:44.839 it rejects that inflation and starts to deflate, Um, they 0:09:44.880 --> 0:09:47.920 go back and try to pump the balloon back up. Yeah, 0:09:48.000 --> 0:09:51.160 that's the cleansing trying to happen, and it's it's painful 0:09:51.679 --> 0:09:54.720 when it happens because people will, you know, go bankrupt 0:09:54.840 --> 0:09:57.320 and lose their homes and lose their jobs. But that 0:09:57.480 --> 0:10:01.840 isn't the problem. That's the consequence of the money printing, 0:10:01.880 --> 0:10:04.520 which is the problem. And listen, if you gave me 0:10:04.640 --> 0:10:08.160 the ability to print money, I probably would. It would 0:10:08.160 --> 0:10:11.040 be very difficult for anybody not to even if you 0:10:11.120 --> 0:10:13.960 think that you're saving the world and saving the whales 0:10:14.080 --> 0:10:17.679 and you know, et cetera. The ability to print money 0:10:17.800 --> 0:10:20.480 is not something that that humans you know, can can 0:10:20.559 --> 0:10:24.040 with can cannot do uh in good conscience. So of 0:10:24.080 --> 0:10:27.480 course it's happening and we shouldn't be surprised. Yeah, now 0:10:27.800 --> 0:10:30.640 all the education piece. A quote that I like to 0:10:30.679 --> 0:10:33.640 throw around often was Henry Ford from about a hundred 0:10:33.720 --> 0:10:36.480 years ago, and he said, if the American people knew 0:10:36.559 --> 0:10:39.040 how the banking system worked, there would be a revolution 0:10:39.160 --> 0:10:42.200 before the morning. Like they wouldn't even put up with 0:10:42.200 --> 0:10:44.720 it for a minute, like before even sunrise came up, 0:10:44.760 --> 0:10:47.480 they'd be already revolting. And of course that was over 0:10:47.559 --> 0:10:50.000 a hundred years ago, so imagine how much worse the 0:10:50.000 --> 0:10:53.679 banking system is today than it was back then. UM 0:10:53.720 --> 0:10:56.960 I would say that, UM, I guess to found how 0:10:57.000 --> 0:10:59.880 cynical your world view is. UM. It's at least been 0:11:00.280 --> 0:11:05.960 intentionally withheld from any education and potentially even misled through 0:11:06.080 --> 0:11:10.240 education of exactly how the banking system work, what money is, 0:11:10.360 --> 0:11:13.600 how money worked, how the banking system worked, etcetera. Do 0:11:13.640 --> 0:11:17.040 you hold that same view? I absolutely do. I mean, no, 0:11:17.600 --> 0:11:21.679 they can't teach you how it works because that would 0:11:21.720 --> 0:11:24.120 reveal the con and and and there's no way that 0:11:24.200 --> 0:11:27.040 the populace would would would stand for it. In fact, 0:11:27.320 --> 0:11:30.839 I mean the Constitution itself basically precludes it. It says 0:11:30.880 --> 0:11:33.760 that Congress shall make nothing money except gold and silver, 0:11:34.160 --> 0:11:36.600 but that of course is ignored at this point. I mean, 0:11:36.640 --> 0:11:39.400 the creature from Jakol Island is a great place to 0:11:39.440 --> 0:11:42.600 start about. How the FED was created in nineteen thirteen 0:11:42.640 --> 0:11:44.760 when the bankers got together, and the whole thing has 0:11:44.800 --> 0:11:48.480 been cloaked in secretsy since. And of course it benefits 0:11:48.559 --> 0:11:51.800 the bankers and those closest to them, and the government 0:11:51.840 --> 0:11:54.400 that gets to spend. And so these are the folks 0:11:54.559 --> 0:11:59.239 pulling the strings and in charge. So it's absolutely intentionally omitted, 0:11:59.320 --> 0:12:04.760 and we are also misled in a I wouldn't say 0:12:04.800 --> 0:12:08.440 it's overt necessarily, it's sort of group think. It's like, 0:12:08.920 --> 0:12:11.280 you know, we're led to believe that the money system 0:12:11.440 --> 0:12:13.800 is the only way that it could be in just 0:12:13.880 --> 0:12:16.239 the way that it should be, and there wouldn't necessarily 0:12:16.280 --> 0:12:19.640 be any other way to structure things, and that's definitely 0:12:19.640 --> 0:12:24.040 not the case. M So it's not not even So 0:12:24.080 --> 0:12:26.360 then I guess those the two options I gave. One 0:12:26.600 --> 0:12:29.040 it's being intentionally left out. The other was even potentially 0:12:29.040 --> 0:12:31.640 being misled. And so I guess you're opting for more 0:12:31.679 --> 0:12:34.480 of the misled where they're teaching you that we have 0:12:34.559 --> 0:12:37.559 to have inflation, the money supply has to grow. How 0:12:37.559 --> 0:12:40.679 can the economy grow if the money supply doesn't grow, right, 0:12:40.720 --> 0:12:43.120 I guess, And so they're really ingraining that in your head, 0:12:43.120 --> 0:12:45.040 and I see that all the time from people are like, 0:12:45.160 --> 0:12:47.360 oh no, well, if if the money supply doesn't doesn't grow, 0:12:47.440 --> 0:12:49.679 then how can the economy grow? I guess, So those 0:12:49.720 --> 0:12:52.520 some of those things that you're you're seeing. Yes, but 0:12:52.600 --> 0:12:55.559 I would say that the money system that we have today, 0:12:55.800 --> 0:12:59.880 really it is necessary to have inflation because it would 0:12:59.880 --> 0:13:02.679 be because every dollar is issued as debt. There is 0:13:02.679 --> 0:13:05.440 no dollar that exists today there wasn't first issued as 0:13:05.480 --> 0:13:10.079 a loan, and that loan requires repayment of principle plus interest. 0:13:10.400 --> 0:13:13.120 So the system the way it is designed today actually 0:13:13.160 --> 0:13:17.840 does need inflation. It doesn't need consumer price inflation necessarily, 0:13:18.120 --> 0:13:21.000 but it needs the issuance of new money, which causes 0:13:21.040 --> 0:13:23.680 consumer price inflation. So they say they need a two 0:13:23.720 --> 0:13:28.440 percent inflation target essentially as an excuse to continue issuing 0:13:28.480 --> 0:13:31.000 more money, to get people to go deeper and deeper 0:13:31.000 --> 0:13:34.080 into debt and to encourage the you know, for the 0:13:34.120 --> 0:13:36.880 government to keep borrowing, because if if they don't do that, 0:13:36.920 --> 0:13:40.440 you get massive debt deflation because there aren't enough dollars 0:13:40.440 --> 0:13:43.760 in the system to repay the loans that are simply 0:13:43.800 --> 0:13:47.880 issued in the creation of money. So the system doesn't 0:13:47.880 --> 0:13:50.760 have to be designed like it is today. It benefits 0:13:50.800 --> 0:13:54.560 them that them that it is, and because it's designed 0:13:54.600 --> 0:13:57.760 this way, we actually do need inflation, not necessarily in 0:13:57.960 --> 0:14:00.720 in prices going up, but we need more money which 0:14:00.800 --> 0:14:05.080 causes those prices to go up. Let me just clarify this. So, um, 0:14:05.120 --> 0:14:08.360 what you're saying is given the current existing debt based 0:14:08.360 --> 0:14:11.160 system that we have today. In order for it to 0:14:11.200 --> 0:14:15.079 continue to pretend to work, we have to have inflation. 0:14:16.520 --> 0:14:18.880 But we don't need that system. We should have a 0:14:18.920 --> 0:14:24.360 different system that wouldn't depend on inflation. Would that be right? Absolutely? Yep, alright, 0:14:24.400 --> 0:14:27.800 So what kind of other system would it be? So traditionally, 0:14:27.840 --> 0:14:30.520 from you know, five thousand years, what worked best in 0:14:30.600 --> 0:14:33.680 the free market was gold and silver, uh, And that's 0:14:33.760 --> 0:14:36.760 that was simply a commodity money that was in using 0:14:36.760 --> 0:14:40.320 precious battles that was limited in supply. And there's a 0:14:40.360 --> 0:14:45.560 fairness to that because in order to obtain gold indoor silver, 0:14:46.040 --> 0:14:47.960 you either need to dig it out of the ground 0:14:48.000 --> 0:14:50.600 and do that work, or you need to create value 0:14:50.640 --> 0:14:53.760 in the marketplace by trading goods and services for it. 0:14:54.120 --> 0:14:56.520 And that's a system that's fair. You wouldn't have a 0:14:56.560 --> 0:14:59.880 government that can suddenly create gold and silver out enough. 0:15:00.120 --> 0:15:02.960 It has to be obtained through taxation in the case 0:15:03.000 --> 0:15:06.200 of government, or again dug from the ground, or earned 0:15:06.200 --> 0:15:08.920 through through work or trade. So for five thousand years, 0:15:08.960 --> 0:15:11.440 that's always worked best in human history. And there's been 0:15:11.520 --> 0:15:15.960 countless experiments where they where they tried paper instead. Going 0:15:16.000 --> 0:15:19.320 back to China or John Lawn France, and that always 0:15:19.400 --> 0:15:23.520 ends in debacle and a hyper inflation. Um. So gold 0:15:23.560 --> 0:15:26.320 and silver traditionally is the right way to do it. 0:15:26.360 --> 0:15:29.760 And I'm absolutely enamored with the bitcoin story. I think 0:15:29.800 --> 0:15:35.320 that could be the beautiful awakening, the solution to the 0:15:35.400 --> 0:15:38.400 very crux of the problem, at the apex of the problem. 0:15:38.680 --> 0:15:43.040 And it's untested, it's new, but conceptually I'm definitely beginning 0:15:43.080 --> 0:15:45.440 to to love the bitcoin story, and not as a 0:15:45.520 --> 0:15:48.240 substitute or replacement for gold and silver. I think free 0:15:48.240 --> 0:15:53.080 market alternatives to money are going sure when when people 0:15:53.120 --> 0:15:56.000 have more choices, the people win, right. So Um, of 0:15:56.040 --> 0:16:00.720 course it's always about competition. Um. You know there's uh 0:16:00.920 --> 0:16:02.920 in regards to that. Just real quickly, you kind of said, 0:16:02.960 --> 0:16:05.440 you know, gold and silver's work five thousand years. There's 0:16:05.480 --> 0:16:07.520 been periods of John Law like where they try to 0:16:07.560 --> 0:16:08.960 get back into paper. You said it he was in 0:16:08.960 --> 0:16:12.240 the debacle. Um. And I think that therein lies the 0:16:12.320 --> 0:16:15.680 crux of the argument. It's man that's the problem, because 0:16:15.720 --> 0:16:18.040 as you said earlier that, um, if you had a 0:16:18.080 --> 0:16:19.960 chance to print money, you would, right and so like 0:16:20.000 --> 0:16:23.960 what man, human nature wouldn't want to get something for free, 0:16:24.000 --> 0:16:26.040 free lunch, so to speak. And so from the beginning 0:16:26.040 --> 0:16:28.200 of time, they've had alchemy trying to turn you know, 0:16:28.520 --> 0:16:32.040 uh nothing into gold, or they debased currencies to create more. 0:16:32.920 --> 0:16:34.920 And it's the man piece. And so that's where the 0:16:35.200 --> 0:16:37.360 beauty of bitcoin comes into play, where it removes man 0:16:38.080 --> 0:16:41.000 and it puts code and it puts immutable code into place. 0:16:41.040 --> 0:16:43.720 And so to your point, you know, eleven twelve years 0:16:43.760 --> 0:16:46.840 isn't enough to prove it out. What every year makes 0:16:46.840 --> 0:16:50.840 it makes it stronger? Um so, um, so you see 0:16:50.840 --> 0:16:53.240 this problem. You had to have your own eyes weight, 0:16:53.320 --> 0:16:55.640 you know, opened up. I should say, right, you're you're 0:16:55.680 --> 0:16:57.560 top kinzie. In all of a sudden you kind of 0:16:57.640 --> 0:16:59.080 learned a different way. You believe that to be a 0:16:59.160 --> 0:17:04.520 better way. You recognize that education is powerful, and I 0:17:04.560 --> 0:17:06.760 guess the best place to start educating is at kids. 0:17:07.760 --> 0:17:09.159 Uh As you said you were kind of reading to 0:17:09.200 --> 0:17:11.760 your kids. Um, I have two kids and we read 0:17:11.760 --> 0:17:13.960 to them every single night, and I love that. Unfortunately 0:17:14.000 --> 0:17:15.439 too old now they don't want me to read them anymore. 0:17:16.160 --> 0:17:19.000 But but yeah, it isn't it is an amazing opportunity. 0:17:19.240 --> 0:17:22.840 How do you think through Um, I guess just the 0:17:22.920 --> 0:17:25.600 topics that you think kids should be learning at that 0:17:25.640 --> 0:17:28.960 young of an age. Yeah, and this is looks certainly 0:17:29.440 --> 0:17:32.520 I've been called crazy by by a lot of people 0:17:32.600 --> 0:17:35.159 that that I would introduce these topics to kids as 0:17:35.280 --> 0:17:37.560 young as three, because I've started with my three year old. 0:17:37.960 --> 0:17:40.800 But the the important thing I think with that is 0:17:40.800 --> 0:17:43.920 the repetition, because it's a nightly ritual. You're not necessarily 0:17:43.920 --> 0:17:45.880 reading the same book every night, but you go back 0:17:45.920 --> 0:17:47.960 to it every week or two, and so they really 0:17:48.320 --> 0:17:52.560 begin to understand stand the concepts through time, and you, uh, 0:17:52.600 --> 0:17:56.640 it's an opportunity for discussion around those things. Um. But yeah, 0:17:56.680 --> 0:17:59.600 I mean first justifying what money is and what it 0:17:59.680 --> 0:18:02.800 is and and and and that really the difference between 0:18:02.840 --> 0:18:07.480 sound and fia. And that's very actually accessible to a 0:18:07.560 --> 0:18:09.960 child because and and I actually have my kids saving 0:18:09.960 --> 0:18:13.080 in silver now too. We've got a system where when 0:18:13.119 --> 0:18:15.440 they earn money around the house, you know, they get 0:18:15.440 --> 0:18:17.399 paid and sober. And they've been we've been doing that 0:18:17.480 --> 0:18:20.560 for the last couple of years, um, actually four or 0:18:20.560 --> 0:18:22.760 five years now, so they've seen the price of silver 0:18:22.840 --> 0:18:25.119 fluctuating that time. They're you know, they're up on that 0:18:25.200 --> 0:18:27.000 and they can trade it out for cash if there's 0:18:27.040 --> 0:18:29.479 something they want to buy. But we take the lessons 0:18:29.520 --> 0:18:31.600 from the books and we try to apply them in 0:18:31.680 --> 0:18:35.199 real life and debt. Yeah, it's it's early to you know, 0:18:35.440 --> 0:18:37.280 three year old doesn't get dead. But again, you read 0:18:37.320 --> 0:18:39.480 it in three or four or five, six, seven, and 0:18:39.480 --> 0:18:43.040 they start to internalize those concepts. So it's not Uh. 0:18:43.080 --> 0:18:45.800 And by the way, when my kids, I truly could 0:18:45.800 --> 0:18:48.800 be reading them just about anything because what they really 0:18:48.920 --> 0:18:51.240 enjoy is the time that they spend with me every 0:18:51.320 --> 0:18:54.840 night in the conversations we have. So it's untested because 0:18:54.840 --> 0:18:57.720 we're fairly new to the marketplace, but but we believe 0:18:57.760 --> 0:19:00.440 in the content. Yeah. No, I agree. Like I said, 0:19:00.440 --> 0:19:02.399 I mean, we read our kids every single night, and 0:19:02.440 --> 0:19:04.080 I'm sad we don't get to do that anymore. But 0:19:04.160 --> 0:19:06.359 it is to your point, it's that time that's spent 0:19:06.440 --> 0:19:10.359 together that's super powerful. But um, you know understand the 0:19:10.400 --> 0:19:15.440 way that people learn. Kids learned specifically right through through reputation. Um. 0:19:15.480 --> 0:19:17.560 I had a I had a conversation with a friend 0:19:17.560 --> 0:19:21.520 who's a educator a teacher, and we were talking about 0:19:21.560 --> 0:19:26.120 the merits of college and she throughout the media headline 0:19:26.160 --> 0:19:33.879 to me that everybody needs an education, And I said, Okay, sure, 0:19:34.080 --> 0:19:37.239 everyone needs to be educated. You tell me what do 0:19:37.280 --> 0:19:40.399 they need to be educated in? And like she just 0:19:40.480 --> 0:19:44.399 drew a blank. I don't know. And I'm like, well, 0:19:45.080 --> 0:19:46.639 I could tell you what I think people should be 0:19:46.720 --> 0:19:51.639 educated in, Like how about like communication? How about time management? 0:19:52.080 --> 0:19:54.440 How about you know, and I throughout a list of things. 0:19:54.440 --> 0:19:56.399 So I'm curious, do you have like a list of 0:19:56.400 --> 0:19:58.840 things that you think that like kids should be learning 0:19:58.920 --> 0:20:00.640 that sets them up for life. And then you start 0:20:00.640 --> 0:20:03.280 working off of that, We're like, uh, kind of what's 0:20:03.320 --> 0:20:06.560 your view on that or your process. I just wanted 0:20:06.600 --> 0:20:08.760 to take a second to explain to you one more 0:20:08.800 --> 0:20:12.680 time just how cool having this new block Fight Visa 0:20:12.840 --> 0:20:15.600 credit card is. I'm starting to move a lot of 0:20:15.640 --> 0:20:18.240 my bills over to get paid from this. Of course 0:20:18.480 --> 0:20:20.560 all my business supplies. I'm starting to pay for this 0:20:20.640 --> 0:20:23.520 my advertising budgets, and I'm starting to run as much 0:20:23.600 --> 0:20:25.520 as i can through it because I'm getting paid a 0:20:25.600 --> 0:20:30.240 percentage back of every single transaction in bitcoin. We want 0:20:30.280 --> 0:20:33.000 to save in bitcoin because bitcoin is an asset that 0:20:33.080 --> 0:20:35.679 goes up in value because of the deflationary nature of it, 0:20:36.119 --> 0:20:38.600 and we want to spend our fiat. So I'm spending 0:20:38.600 --> 0:20:42.240 my Fiat through my Block five visa card, and I'm 0:20:42.280 --> 0:20:45.240 getting back bitcoin that I can save and I can hold. 0:20:45.880 --> 0:20:47.719 I expected to go up in value a lot. I 0:20:47.720 --> 0:20:49.919 expect to hold my bitcoin. I'm gonna pass it to 0:20:49.960 --> 0:20:52.120 my kids and my grandkids and hopefully my great grandkids 0:20:52.240 --> 0:20:54.600