1 00:00:00,000 --> 00:00:02,559 Speaker 1: All right, welcome back to another episode of The Markma Show, 2 00:00:02,560 --> 00:00:05,600 Speaker 1: where we talk about the decentralized revolution, how the world 3 00:00:05,720 --> 00:00:08,800 Speaker 1: is changing as we look at through the lens of politics, finance, 4 00:00:09,080 --> 00:00:14,080 Speaker 1: and technology. Today, I am sitting down with another special guest. 5 00:00:14,320 --> 00:00:18,599 Speaker 1: I'm talking about podcast host media personality, Marty Bent. He's 6 00:00:18,600 --> 00:00:22,240 Speaker 1: the host of the t f TC podcast. He's recently 7 00:00:22,239 --> 00:00:24,520 Speaker 1: been featured on shows such as Glenn beck Um and 8 00:00:24,600 --> 00:00:28,000 Speaker 1: he is on front. He's in front of what is 9 00:00:28,040 --> 00:00:30,680 Speaker 1: going on as this world is changing, and I'm talking 10 00:00:30,720 --> 00:00:34,040 Speaker 1: about it through the lens of politics, finance, and technology 11 00:00:34,040 --> 00:00:36,040 Speaker 1: and the merger of those three. And we are going 12 00:00:36,080 --> 00:00:39,040 Speaker 1: to talk about all three of those topics. The economy, 13 00:00:39,240 --> 00:00:41,760 Speaker 1: the markets, the signs of the economy is breaking down, 14 00:00:41,760 --> 00:00:43,720 Speaker 1: but what does that mean for the market, How the 15 00:00:43,720 --> 00:00:45,800 Speaker 1: monetary system of the world is changing, what's going on 16 00:00:45,840 --> 00:00:48,879 Speaker 1: with the World Forum, what they're talking about, and what 17 00:00:49,040 --> 00:00:50,880 Speaker 1: is going to happen from that. We're gonna talk about 18 00:00:50,880 --> 00:00:52,520 Speaker 1: all that. Let's quead just jump right into the interview 19 00:00:52,520 --> 00:00:56,560 Speaker 1: with Marty. Alright, Marty, thanks for hosting. I'm hosting you 20 00:00:57,080 --> 00:00:59,480 Speaker 1: this time. But in your studio, tables of the table 21 00:00:59,520 --> 00:01:02,160 Speaker 1: is gonna nice its chairs So here we are in 22 00:01:02,200 --> 00:01:05,399 Speaker 1: the t FTC studios with UM with Marty Bent. If 23 00:01:05,400 --> 00:01:07,400 Speaker 1: you don't watch Marty Show, you definitely should t f 24 00:01:07,480 --> 00:01:11,000 Speaker 1: TC and read his uh every read it right, every day. Right, 25 00:01:11,040 --> 00:01:12,880 Speaker 1: you're trying to get back to it. Your days been 26 00:01:12,959 --> 00:01:15,679 Speaker 1: like two just three days a week. This week, I'm 27 00:01:15,680 --> 00:01:17,959 Speaker 1: getting back to five days a week. So check out 28 00:01:18,000 --> 00:01:22,119 Speaker 1: his email. Will link will link to that stuff down below. UM. 29 00:01:22,200 --> 00:01:24,520 Speaker 1: I always love listening to your stuff. We share a 30 00:01:24,600 --> 00:01:26,840 Speaker 1: very common worldview, so so it's always a pleasure to 31 00:01:26,840 --> 00:01:28,319 Speaker 1: get down to sit down talk to you as well 32 00:01:29,600 --> 00:01:31,840 Speaker 1: a lot of things to cover today. You put an 33 00:01:31,920 --> 00:01:33,600 Speaker 1: article I think it was this morning or last night 34 00:01:33,640 --> 00:01:37,120 Speaker 1: talking about the signs of economic stress or everywhere, So 35 00:01:37,160 --> 00:01:39,160 Speaker 1: I want to dig into that first. I was just 36 00:01:39,200 --> 00:01:41,399 Speaker 1: saying before we sat down that I think this year 37 00:01:41,440 --> 00:01:43,320 Speaker 1: is gonna be better than most people expect, and that's 38 00:01:43,319 --> 00:01:46,120 Speaker 1: a contrary and view. So let's let's talk about that 39 00:01:46,120 --> 00:01:47,800 Speaker 1: a little bit and then we'll get into a bunch 40 00:01:47,800 --> 00:01:50,440 Speaker 1: of other fun stuff that I have planned. But so 41 00:01:50,480 --> 00:01:53,000 Speaker 1: what I there's all there's been all these like disparate 42 00:01:53,280 --> 00:01:56,200 Speaker 1: stories there we've been reading on zero Hedge and they're 43 00:01:56,200 --> 00:01:58,240 Speaker 1: just like siloed. That's what I try to do with 44 00:01:58,240 --> 00:01:59,560 Speaker 1: this letter last night was to put a few of 45 00:01:59,560 --> 00:02:02,800 Speaker 1: them together. That's what I focused on was consumer credit 46 00:02:03,120 --> 00:02:07,880 Speaker 1: and savings UM, housing or a real estate more broadly 47 00:02:07,880 --> 00:02:12,840 Speaker 1: commercial real estate and residential real estate, and then the 48 00:02:12,919 --> 00:02:15,880 Speaker 1: used car market. And you threw in late layoffs and 49 00:02:15,960 --> 00:02:18,880 Speaker 1: layoffs as well UM, and that tied into the commercial 50 00:02:18,919 --> 00:02:24,040 Speaker 1: real estate and so consumer credit, Uh, it's hitting new 51 00:02:24,040 --> 00:02:29,200 Speaker 1: all time highs. Obviously, it fell significantly after the COVID lockdowns. 52 00:02:29,200 --> 00:02:31,920 Speaker 1: People went into their houses, paid off their debt, had 53 00:02:31,919 --> 00:02:34,240 Speaker 1: a lot more disposable income, and they weren't traveling to 54 00:02:34,240 --> 00:02:37,880 Speaker 1: work and eating out and all that jazz. But since then, 55 00:02:37,919 --> 00:02:40,560 Speaker 1: if you look at like the slope of the increase 56 00:02:40,639 --> 00:02:43,200 Speaker 1: of consumer credit since it started going back up, and 57 00:02:44,960 --> 00:02:48,519 Speaker 1: it's a bit steeper than it was in the ten 58 00:02:48,639 --> 00:02:53,840 Speaker 1: years prior after after things started going back up after 59 00:02:54,080 --> 00:02:57,800 Speaker 1: eight and so we have that situation. Then you juxtapose 60 00:02:58,720 --> 00:03:03,080 Speaker 1: that credit growth with savings rates which are plummeting. There 61 00:03:03,200 --> 00:03:06,960 Speaker 1: two point seven of disposable income right now, which is 62 00:03:07,000 --> 00:03:10,440 Speaker 1: the second lowest point in recorded history, with the first 63 00:03:10,440 --> 00:03:15,200 Speaker 1: being two point four in two thousand five, right before 64 00:03:15,800 --> 00:03:18,320 Speaker 1: the housing crisis and so, and that was as of 65 00:03:18,400 --> 00:03:21,920 Speaker 1: Q three two, so we have another quarter of which 66 00:03:22,000 --> 00:03:24,480 Speaker 1: Christmas was abolved with. So you have to imagine people 67 00:03:24,520 --> 00:03:27,520 Speaker 1: were digging in their savings to do all their spending. 68 00:03:27,520 --> 00:03:31,240 Speaker 1: And the retail numbers came in this morning and retail 69 00:03:31,240 --> 00:03:35,080 Speaker 1: sales were down one point one percent, which was for Christmas. Yeah, 70 00:03:35,120 --> 00:03:38,000 Speaker 1: which was lower than expected. And so that savings rates 71 00:03:38,040 --> 00:03:41,000 Speaker 1: probably even a bit lower, um than it was in 72 00:03:41,120 --> 00:03:44,560 Speaker 1: Q three two. And then you combine those two and 73 00:03:44,680 --> 00:03:48,600 Speaker 1: add an interest rates. You have credit card rates hitting 74 00:03:49,640 --> 00:03:54,160 Speaker 1: levels around on average. So that signals to me that 75 00:03:54,280 --> 00:03:57,840 Speaker 1: the consumers under an immense amount of stretch stress excuse me. 76 00:03:57,880 --> 00:04:00,840 Speaker 1: They're over extending themselves, going into more debts at the 77 00:04:00,880 --> 00:04:04,880 Speaker 1: same time blowing through their savings. Uh. And obviously prices 78 00:04:04,920 --> 00:04:08,839 Speaker 1: are going up. Food energy, it's leveled off a bit, 79 00:04:08,880 --> 00:04:11,800 Speaker 1: but it seems like wheels going back up. And so 80 00:04:11,880 --> 00:04:14,880 Speaker 1: that was the one sort of theme that I honed 81 00:04:14,880 --> 00:04:17,960 Speaker 1: in on, like, Hey, consumers seem pretty stressed out. They're 82 00:04:17,960 --> 00:04:20,680 Speaker 1: adding more debt at higher rates, although they haven't cut 83 00:04:20,680 --> 00:04:26,560 Speaker 1: their spending no, which is weird, Yes, because uh, people, 84 00:04:27,200 --> 00:04:30,760 Speaker 1: I forget what podcast I was listening to, but um, 85 00:04:30,800 --> 00:04:33,760 Speaker 1: it's like a social psychological thing. Like once you're used 86 00:04:33,760 --> 00:04:37,599 Speaker 1: to getting a new iPhone every eighteen months or getting 87 00:04:37,680 --> 00:04:40,680 Speaker 1: the latest athletic equipment and want to keep doing that. 88 00:04:40,800 --> 00:04:44,080 Speaker 1: It's just like hard. Let go that that tendency in 89 00:04:44,120 --> 00:04:46,320 Speaker 1: the latest CPI day that it just came out. Um, 90 00:04:46,400 --> 00:04:49,599 Speaker 1: the core inflation is very sticky. It's like not budging, 91 00:04:49,680 --> 00:04:54,760 Speaker 1: which kind of shows this consumer is just not stopping spending. No. Yeah, no, 92 00:04:55,120 --> 00:04:58,440 Speaker 1: well the core inflation too. It's like going, you know, 93 00:04:58,440 --> 00:05:00,160 Speaker 1: thinking what they're spending on, like food and then g 94 00:05:00,839 --> 00:05:05,159 Speaker 1: predominantly um, which is your central goods. Yeah, obviously we 95 00:05:05,200 --> 00:05:08,040 Speaker 1: have an egg crisis country right up, which is this 96 00:05:08,160 --> 00:05:11,799 Speaker 1: bird flu. But yeah, people are freaking out about eggs, 97 00:05:11,800 --> 00:05:15,479 Speaker 1: which is something I never thought i'd see. It's weird. Yeah, 98 00:05:15,640 --> 00:05:19,040 Speaker 1: it's weird when you know, we have this ranch out 99 00:05:19,080 --> 00:05:22,479 Speaker 1: here and it might be a little t m I 100 00:05:22,600 --> 00:05:26,280 Speaker 1: for the audience. But my daughter was freaking out at 101 00:05:26,279 --> 00:05:29,800 Speaker 1: the time. They were having like a tampon shortage and 102 00:05:29,920 --> 00:05:32,360 Speaker 1: like she was like seeing the news and like all 103 00:05:32,360 --> 00:05:34,120 Speaker 1: these girls are freaking out and she was like freaking out. 104 00:05:34,120 --> 00:05:35,320 Speaker 1: It's like the end of the world for her. You know, 105 00:05:35,360 --> 00:05:37,719 Speaker 1: we have to go stockpile these things, so like seeing 106 00:05:37,880 --> 00:05:39,880 Speaker 1: whether it's eggs or that. Like, I mean, the economy 107 00:05:39,960 --> 00:05:41,520 Speaker 1: is just kind of breaking down, which I want to 108 00:05:41,560 --> 00:05:44,040 Speaker 1: come back to. Okay, So the consumers getting stretched, then 109 00:05:44,080 --> 00:05:48,279 Speaker 1: that's a horrible um position both spending or if say 110 00:05:48,560 --> 00:05:51,160 Speaker 1: saving or credit going up as savings are going down. 111 00:05:51,680 --> 00:05:56,800 Speaker 1: So the consumers getting stretched, it's not cut couldn't spending yet. Um. 112 00:05:56,920 --> 00:05:58,800 Speaker 1: Then we have a couple of other things, right, So 113 00:05:59,400 --> 00:06:03,120 Speaker 1: the used car our markets, So what do you see? 114 00:06:03,160 --> 00:06:04,520 Speaker 1: What are you see in there? Like what are you 115 00:06:04,520 --> 00:06:08,400 Speaker 1: thinking about that? So these are typically used cars, particularly 116 00:06:08,520 --> 00:06:17,400 Speaker 1: like leading indicators of economic stress because people are deciding hey, uh, 117 00:06:17,720 --> 00:06:19,159 Speaker 1: they're either just saying, hey, I need to get rid 118 00:06:19,200 --> 00:06:21,359 Speaker 1: of this car because I don't need it. I can 119 00:06:21,720 --> 00:06:24,240 Speaker 1: take an uber, especially in the uber eyes world, like 120 00:06:24,440 --> 00:06:28,640 Speaker 1: people are weighing their monthly payment verse um just paying 121 00:06:28,640 --> 00:06:33,160 Speaker 1: an uber to get to and from work, which does 122 00:06:33,240 --> 00:06:36,039 Speaker 1: tend to be cheaper, Like I uber to and from 123 00:06:36,040 --> 00:06:38,080 Speaker 1: here usually met my wife have one car, and it's 124 00:06:38,120 --> 00:06:41,000 Speaker 1: definitely cheaper than our car payment over the course of 125 00:06:41,000 --> 00:06:43,840 Speaker 1: the month, especially when you had in parking and all 126 00:06:43,839 --> 00:06:47,200 Speaker 1: the other stuff. Yeah, exactly, And so that market's career 127 00:06:47,240 --> 00:06:49,560 Speaker 1: but it's it's down. It was down, had like the 128 00:06:49,600 --> 00:06:52,560 Speaker 1: largest monthly decline in December. But you also have to 129 00:06:52,560 --> 00:06:56,120 Speaker 1: take an account that also had this roaring bull market 130 00:06:56,480 --> 00:07:00,240 Speaker 1: after when people moved out of the city as they said, Hey, 131 00:07:00,279 --> 00:07:01,840 Speaker 1: I'm gonna live in the suburbs, I need a car 132 00:07:02,160 --> 00:07:05,119 Speaker 1: if I'm in the suburbs. Uh, and so that sent 133 00:07:05,640 --> 00:07:08,640 Speaker 1: prices of used cars skyrocketing. Another factor of that was 134 00:07:08,760 --> 00:07:11,720 Speaker 1: the supply chains for new cars got completely bored. They 135 00:07:11,720 --> 00:07:13,760 Speaker 1: couldn't find the parts and so you have to supply 136 00:07:14,440 --> 00:07:17,559 Speaker 1: con straight on the new cars. So used car market 137 00:07:17,600 --> 00:07:20,200 Speaker 1: got flooded. But yeah, if you look at I forget 138 00:07:20,200 --> 00:07:23,800 Speaker 1: the exact stats, but the average monthly payment for I 139 00:07:23,800 --> 00:07:29,760 Speaker 1: believe thousand dollars, yeah, for of used car owners, UM, 140 00:07:29,840 --> 00:07:33,440 Speaker 1: which is pretty high, uh, for your average consumer. And 141 00:07:33,440 --> 00:07:36,480 Speaker 1: then on top of that, the probably I didn't include 142 00:07:36,480 --> 00:07:40,000 Speaker 1: it in the newsletter, but I saw the stat this morning. Um, 143 00:07:40,600 --> 00:07:43,960 Speaker 1: the sixty day delinquency rate for used cars is up 144 00:07:44,960 --> 00:07:48,440 Speaker 1: year on year. And so there's delinquency rates When people 145 00:07:48,480 --> 00:07:50,920 Speaker 1: stop paying their bills, that's usually an indicator that they 146 00:07:50,960 --> 00:07:53,960 Speaker 1: can't and they're in economic stress. And so that wasn't 147 00:07:53,960 --> 00:07:57,000 Speaker 1: included in that particular newsletter, but it's a stat I 148 00:07:57,040 --> 00:08:00,200 Speaker 1: saw this morning, year on year, sixty day delinquacies up, 149 00:08:01,600 --> 00:08:05,120 Speaker 1: which is a pretty material increase. I have a buddy 150 00:08:05,160 --> 00:08:08,280 Speaker 1: who runs the auto auctions in California, and I was 151 00:08:08,320 --> 00:08:11,040 Speaker 1: talking to just this last weekend, and um, he said 152 00:08:11,080 --> 00:08:12,800 Speaker 1: that there's still a lot of action, but he has 153 00:08:12,840 --> 00:08:15,840 Speaker 1: seen a lot of weakness, and especially the luxury car marks. 154 00:08:15,880 --> 00:08:20,960 Speaker 1: The g wagons specifically have taken like a massive hit. Um. 155 00:08:21,160 --> 00:08:22,720 Speaker 1: Some of that is a lot of these cars were 156 00:08:22,720 --> 00:08:27,880 Speaker 1: going fifty thousand a hundred thousand over sticker, which is insane, insane. 157 00:08:27,960 --> 00:08:29,520 Speaker 1: I mean, we looked at when we bought our car 158 00:08:30,240 --> 00:08:32,880 Speaker 1: that we have. We brought it in June, right we 159 00:08:33,000 --> 00:08:34,920 Speaker 1: left the city. We were in New York. We left 160 00:08:35,720 --> 00:08:42,000 Speaker 1: early March, pretty early, and then we were living excuse me, 161 00:08:42,040 --> 00:08:44,080 Speaker 1: we're living down the shore and needed a car, and 162 00:08:44,120 --> 00:08:48,040 Speaker 1: so we went we bought a used car. Um locked 163 00:08:48,080 --> 00:08:50,120 Speaker 1: in like a four percent interest rate. It was like 164 00:08:50,160 --> 00:08:54,760 Speaker 1: twenty two grand. It was like the best time to 165 00:08:54,760 --> 00:08:56,680 Speaker 1: get in because we checked prices like a year later. 166 00:08:56,800 --> 00:08:59,040 Speaker 1: In our car, even with all the miles we put 167 00:08:59,040 --> 00:09:01,640 Speaker 1: on it, what have sold for like the DeGrand um 168 00:09:01,760 --> 00:09:06,599 Speaker 1: an they used car um. And so another thing to 169 00:09:06,640 --> 00:09:08,520 Speaker 1: fact interest rates coming to this story as well. The 170 00:09:08,559 --> 00:09:11,280 Speaker 1: average interest rate on these used cars is temper set 171 00:09:11,480 --> 00:09:15,079 Speaker 1: as well. Um. And when you think a quarter of 172 00:09:15,120 --> 00:09:17,240 Speaker 1: these used car owners are paying a thousand dollars a 173 00:09:17,280 --> 00:09:20,240 Speaker 1: month plus that temper cent interest rate. I've seen a 174 00:09:20,240 --> 00:09:23,160 Speaker 1: lot of people talking about the the used car market. 175 00:09:23,160 --> 00:09:25,480 Speaker 1: I've seen changes in lending standards where they're being much 176 00:09:25,520 --> 00:09:27,880 Speaker 1: more relaxed, which is a problem because they're just trying 177 00:09:27,920 --> 00:09:29,760 Speaker 1: to get units out the door, which again shows the 178 00:09:29,760 --> 00:09:34,240 Speaker 1: consumers stress, the credit the money is not there. And 179 00:09:34,240 --> 00:09:36,120 Speaker 1: and for sure it's like a leading indicator to the 180 00:09:36,160 --> 00:09:37,760 Speaker 1: point that you made, But do you think it really 181 00:09:37,800 --> 00:09:40,360 Speaker 1: poses a systemic threat to the rest of the economy. 182 00:09:40,840 --> 00:09:43,360 Speaker 1: I don't think they used car market particularly right. I 183 00:09:43,400 --> 00:09:48,000 Speaker 1: don't think like an implosion of used cars of the economy. 184 00:09:48,040 --> 00:09:52,880 Speaker 1: It's just an indicator that hey, there's some sex subsection 185 00:09:53,000 --> 00:09:55,719 Speaker 1: of the economy that's under stress, is either dumping these 186 00:09:55,720 --> 00:09:59,040 Speaker 1: cars or not buying them because they can't afford them. Yeah. 187 00:10:00,000 --> 00:10:02,720 Speaker 1: And then we have the real estate market you covered, 188 00:10:02,720 --> 00:10:05,760 Speaker 1: which I think goes into the layoffs. You said, yes, 189 00:10:06,360 --> 00:10:12,920 Speaker 1: uh so that's particularly with the reats, the non tradeable rates. 190 00:10:13,040 --> 00:10:16,600 Speaker 1: Blackstone had their sixty nine billion dollar reat fund that 191 00:10:16,720 --> 00:10:21,480 Speaker 1: they UH curb redemptions two in November. They've recently got 192 00:10:21,520 --> 00:10:24,720 Speaker 1: a capital injection from the University California system of four 193 00:10:24,760 --> 00:10:27,280 Speaker 1: billion dollars, so I think that's back open. But then 194 00:10:27,280 --> 00:10:31,959 Speaker 1: there was a star Wood Asset Management also curb redemptions 195 00:10:31,960 --> 00:10:36,080 Speaker 1: to their sixteen billion dollar UH non tradeable rate and 196 00:10:36,800 --> 00:10:41,080 Speaker 1: their explanation for why their investors were pulling money out 197 00:10:41,240 --> 00:10:46,040 Speaker 1: because they had a stellar U two and they were 198 00:10:46,400 --> 00:10:52,960 Speaker 1: taking profits. But I think, UH, like, especially in this market, 199 00:10:53,080 --> 00:10:55,600 Speaker 1: you want to like people are scared. They people are scared, 200 00:10:55,640 --> 00:10:59,480 Speaker 1: they want their money UM. And even though these reds 201 00:10:59,480 --> 00:11:02,320 Speaker 1: performed really well the last couple of years, signals to 202 00:11:02,360 --> 00:11:05,720 Speaker 1: me that if these types of investors are pulling their 203 00:11:05,720 --> 00:11:08,320 Speaker 1: money out of that first, it's for a reason. And 204 00:11:08,720 --> 00:11:12,960 Speaker 1: these rates typically invest in commercial real estate UM here 205 00:11:12,960 --> 00:11:18,040 Speaker 1: in the United States and UM post lockdowns UM. And 206 00:11:18,080 --> 00:11:20,760 Speaker 1: now with these tech layoffs going on, like the market 207 00:11:20,760 --> 00:11:24,800 Speaker 1: for commercial real estate it's seeming pretty bearish because people 208 00:11:24,800 --> 00:11:28,160 Speaker 1: are either working from home or if they are working 209 00:11:28,200 --> 00:11:30,920 Speaker 1: out in an office, A lot of these tech companies 210 00:11:30,960 --> 00:11:34,160 Speaker 1: are beginning to lay off people at an increasing pace, 211 00:11:34,480 --> 00:11:37,960 Speaker 1: especially office space in Silicon Valley for example, right, really bad. 212 00:11:38,440 --> 00:11:40,480 Speaker 1: I was looking at some of the data on Blackstone 213 00:11:40,480 --> 00:11:41,680 Speaker 1: like a week ago. I talked about it in a 214 00:11:41,679 --> 00:11:44,520 Speaker 1: different video. Um, you know, the whole thing with the 215 00:11:44,559 --> 00:11:48,600 Speaker 1: GBTC situation, grace scale, bitcoin trust and that they don't 216 00:11:48,640 --> 00:11:50,559 Speaker 1: really want to unravel that thing because they're making a 217 00:11:50,600 --> 00:11:53,880 Speaker 1: two percent premium on that, which is super healthy. Blackstone 218 00:11:53,880 --> 00:11:58,520 Speaker 1: makes three point six percent. They're charging three. They're making 219 00:11:59,280 --> 00:12:02,080 Speaker 1: was it two billion dollars a year or something like that, 220 00:12:02,200 --> 00:12:04,560 Speaker 1: right to to three point six on sixty eight billion 221 00:12:04,640 --> 00:12:08,120 Speaker 1: whatever that was or something like that. I'm sorry, I 222 00:12:08,120 --> 00:12:10,480 Speaker 1: can't do math on the top of my head. Um, Austin, 223 00:12:10,520 --> 00:12:16,240 Speaker 1: what is that three point six of sixty billion? Anyway? Um? 224 00:12:16,320 --> 00:12:19,600 Speaker 1: And uh it's even more murky so um. Just on 225 00:12:19,640 --> 00:12:22,680 Speaker 1: a little side note, but they don't mark to market 226 00:12:22,720 --> 00:12:28,400 Speaker 1: their assets, so it's all controlled internally, and internally they 227 00:12:28,400 --> 00:12:31,800 Speaker 1: set the valuation of what their assets are. It's a 228 00:12:31,920 --> 00:12:34,640 Speaker 1: breat that people invest into and they don't even have 229 00:12:34,679 --> 00:12:37,319 Speaker 1: any say of what assets they buy, so who knows 230 00:12:37,320 --> 00:12:39,720 Speaker 1: what they're even buying and they could be buying junk 231 00:12:39,720 --> 00:12:42,280 Speaker 1: assets and then they're not marked to market. They set 232 00:12:42,320 --> 00:12:45,720 Speaker 1: the valuation, which they're probably keeping artificially high because they're 233 00:12:45,760 --> 00:12:48,400 Speaker 1: making the three point six percent off the back of it. 234 00:12:49,440 --> 00:12:55,040 Speaker 1: That's did you forget what that is? Uh? Probably it's 235 00:12:55,080 --> 00:12:58,560 Speaker 1: probably like some point three billion. It was a lot there. 236 00:12:59,600 --> 00:13:02,079 Speaker 1: Side note, But okay, so back to this. So um, 237 00:13:02,080 --> 00:13:04,520 Speaker 1: those that those are great data points. Um. The the 238 00:13:04,559 --> 00:13:08,000 Speaker 1: economic data is bad, it's really bad. We could talk 239 00:13:08,040 --> 00:13:11,560 Speaker 1: about indicators and it's all looking bad. We have the 240 00:13:11,559 --> 00:13:13,760 Speaker 1: most extreme yield curve we've ever seen in history, which 241 00:13:13,760 --> 00:13:18,520 Speaker 1: tells us the recessions coming. Um, the unemployment number is low, 242 00:13:18,640 --> 00:13:21,199 Speaker 1: but if you dig in the data, it's actually really bad. Um, 243 00:13:21,320 --> 00:13:22,680 Speaker 1: And we can keep going on and on on. They 244 00:13:22,679 --> 00:13:25,600 Speaker 1: don't factoring the participation rate, which is very important, the 245 00:13:25,640 --> 00:13:28,560 Speaker 1: participation rate, which is at its lowest point in history. 246 00:13:29,120 --> 00:13:30,800 Speaker 1: I was trying to do a little research and look 247 00:13:30,800 --> 00:13:33,440 Speaker 1: at when the unemployment rate was this low before and 248 00:13:33,480 --> 00:13:35,600 Speaker 1: what the participation rate, but it was hard to get 249 00:13:35,600 --> 00:13:38,520 Speaker 1: that data. But okay, so we frame it up and 250 00:13:38,559 --> 00:13:41,600 Speaker 1: the economic data is bad. It's really bad, and we're 251 00:13:41,760 --> 00:13:46,880 Speaker 1: hurdling too catastrophe at the rate we're on potentially, Um, 252 00:13:46,880 --> 00:13:49,080 Speaker 1: we can add in a couple more things just real quick. Uh, 253 00:13:49,559 --> 00:13:52,480 Speaker 1: the baby boomers are all retiring. Under the ereset law, 254 00:13:52,960 --> 00:13:54,959 Speaker 1: they were able to invest tax free, but they're forced 255 00:13:54,960 --> 00:13:58,160 Speaker 1: to start cashing in and pay the taxes now when 256 00:13:58,200 --> 00:14:02,640 Speaker 1: they're seventy three or whatever. Um, we have interest rates 257 00:14:02,640 --> 00:14:04,920 Speaker 1: so high that all these corporations aren't gonna be able 258 00:14:04,960 --> 00:14:07,560 Speaker 1: to roll over their debt. And then if they don't, 259 00:14:07,640 --> 00:14:09,600 Speaker 1: if they can't borrow more money, they're not buying back 260 00:14:09,640 --> 00:14:12,240 Speaker 1: their stocks. So they're not buying as the boomers are selling. 261 00:14:12,960 --> 00:14:15,920 Speaker 1: I mean, we can go on the question I have 262 00:14:16,400 --> 00:14:20,760 Speaker 1: is um, so what not not so what? But more? 263 00:14:20,920 --> 00:14:24,280 Speaker 1: What does that mean? So? Um? When if we look 264 00:14:24,280 --> 00:14:28,720 Speaker 1: at uh, what we saw is that the economy does 265 00:14:28,800 --> 00:14:33,080 Speaker 1: not equal the markets. The entire economy was literally shut down. 266 00:14:33,080 --> 00:14:35,920 Speaker 1: It couldn't have been any worse. Businesses were literally put 267 00:14:35,960 --> 00:14:37,840 Speaker 1: out of business, and yet the markets hit all new 268 00:14:37,880 --> 00:14:43,400 Speaker 1: times asset prices, stocks, bonds, real estate, bitcoin, etcetera. So 269 00:14:45,200 --> 00:14:46,840 Speaker 1: when we're looking at the economic data and we're looking 270 00:14:46,840 --> 00:14:49,720 Speaker 1: all these data points, is it so like, Um, what 271 00:14:49,800 --> 00:14:52,160 Speaker 1: does the average listener care? Like, Hey, you better buckle 272 00:14:52,160 --> 00:14:53,840 Speaker 1: down because the economy is gonna get bad, maybe hard 273 00:14:53,840 --> 00:14:56,680 Speaker 1: to make money or for like investing does that matter 274 00:14:57,400 --> 00:15:01,480 Speaker 1: in terms of like asset prices a agree like show 275 00:15:01,520 --> 00:15:04,480 Speaker 1: like the markets do not equal the economy. But the 276 00:15:04,520 --> 00:15:10,440 Speaker 1: key difference between three and is FED policy, right, like 277 00:15:10,760 --> 00:15:14,200 Speaker 1: you have the FED seems pretty dead set on driving 278 00:15:14,320 --> 00:15:18,960 Speaker 1: rates and keeping them there higher than five percent. It 279 00:15:19,000 --> 00:15:21,720 Speaker 1: seems like every other day you have a FED governor 280 00:15:21,920 --> 00:15:24,040 Speaker 1: from some part of the country coming out and saying, yep, 281 00:15:24,080 --> 00:15:26,360 Speaker 1: we're gonna we're gonna raise rates above five and then 282 00:15:26,480 --> 00:15:29,000 Speaker 1: try to keep it there through the rest of the year. 283 00:15:29,080 --> 00:15:32,040 Speaker 1: So I think that's the number one factor that would 284 00:15:32,120 --> 00:15:36,840 Speaker 1: lead to a different outcome than where you shut down 285 00:15:36,840 --> 00:15:40,920 Speaker 1: the economy, UH, lowered rates, print a bunch of money 286 00:15:41,040 --> 00:15:45,400 Speaker 1: at a government stimulus on top of that, and people 287 00:15:45,560 --> 00:15:48,560 Speaker 1: simply a more disposable income that they weren't spending as 288 00:15:48,560 --> 00:15:50,920 Speaker 1: they were traveling to and from work and hanging out 289 00:15:51,320 --> 00:15:53,120 Speaker 1: and weren't able to go to bars, going to movies, 290 00:15:53,200 --> 00:15:57,440 Speaker 1: good all that. UM. So I think that's different today 291 00:15:57,640 --> 00:16:05,120 Speaker 1: where the interest rates part really could bring markets in 292 00:16:05,160 --> 00:16:12,960 Speaker 1: the economy closer to UM sort of like markets the economy, 293 00:16:13,760 --> 00:16:18,480 Speaker 1: markets in the economy, UH could be accurately reflected together 294 00:16:18,520 --> 00:16:23,160 Speaker 1: instead of this disconnection that we had in Yeah, Yeah, 295 00:16:23,240 --> 00:16:26,400 Speaker 1: the Fed. The FED wants to crush demand. So they 296 00:16:26,440 --> 00:16:28,560 Speaker 1: want to crush the economy because they want people to 297 00:16:28,600 --> 00:16:30,760 Speaker 1: be broke so they don't keep spending so much money. 298 00:16:30,800 --> 00:16:33,040 Speaker 1: So maybe they're saying, hey, we're doing a good job. 299 00:16:33,080 --> 00:16:36,280 Speaker 1: I guess we're Larry Summers come out. I mean he's 300 00:16:36,320 --> 00:16:40,160 Speaker 1: not officially associated with the Federal Reserve anymore, but I 301 00:16:40,160 --> 00:16:43,240 Speaker 1: mean he was on CNBC a few weeks ago sitting 302 00:16:43,240 --> 00:16:45,280 Speaker 1: on a beach saying, yeah, we need to uh, we 303 00:16:45,320 --> 00:16:48,360 Speaker 1: need to drive chop loss here so that we can 304 00:16:48,840 --> 00:16:52,480 Speaker 1: lower prices and the economy on a solid base. And 305 00:16:52,520 --> 00:16:55,160 Speaker 1: that is a very scary thing that people need to 306 00:16:55,240 --> 00:16:57,760 Speaker 1: hear again. So we're gonna repeat that again. So they 307 00:16:57,760 --> 00:16:59,640 Speaker 1: want to crush demand by making you pour so you 308 00:16:59,640 --> 00:17:01,360 Speaker 1: don't buy as much stuff. They're trying to do that 309 00:17:01,400 --> 00:17:04,639 Speaker 1: to get CPI down to the two to three percent range, 310 00:17:05,040 --> 00:17:08,120 Speaker 1: but they also want to get unemployment up to five 311 00:17:09,160 --> 00:17:11,359 Speaker 1: They want more people to lose their jobs. Yeah, the Fed, 312 00:17:11,760 --> 00:17:13,960 Speaker 1: it's pretty evil. I mean, the Fed won't come out 313 00:17:13,960 --> 00:17:18,040 Speaker 1: and say it. They need a proxy member like Larry 314 00:17:18,080 --> 00:17:20,640 Speaker 1: Summers to come out and say what everybody knows they're 315 00:17:20,640 --> 00:17:24,359 Speaker 1: trying to do. Um, But Yeah, when you think about it, 316 00:17:24,520 --> 00:17:30,280 Speaker 1: just highlights the insanity in the perverse nature of FED policy, 317 00:17:30,359 --> 00:17:33,720 Speaker 1: like they really only care about these numbers and not 318 00:17:33,840 --> 00:17:36,239 Speaker 1: the well being of individuals. At the end of the day, 319 00:17:36,240 --> 00:17:39,960 Speaker 1: they've created this Frankenstein monster that they sort of lost 320 00:17:40,000 --> 00:17:43,520 Speaker 1: control of, and so they're trying to get control of 321 00:17:43,520 --> 00:17:46,240 Speaker 1: this monster, and they're willing to do that at the 322 00:17:46,280 --> 00:17:50,399 Speaker 1: expense of your everyday American. I mean, it's to come 323 00:17:50,400 --> 00:17:51,760 Speaker 1: out and say, we need more people to lose their 324 00:17:51,840 --> 00:17:54,800 Speaker 1: job and high wages is a problem for them. They 325 00:17:54,800 --> 00:17:58,440 Speaker 1: need people to make less money because high wages drives inflation. Yes, exactly, 326 00:17:58,440 --> 00:18:02,960 Speaker 1: I mean, come on, insanity. Um. But I had said 327 00:18:02,960 --> 00:18:04,520 Speaker 1: out there before we came in that I think this 328 00:18:04,600 --> 00:18:06,480 Speaker 1: year could be better, and I was specifically talking about 329 00:18:06,680 --> 00:18:09,240 Speaker 1: asset prices. Um. Then most people think. And the reason 330 00:18:09,320 --> 00:18:11,280 Speaker 1: why I'm shifting my thinking a little bit, I don't 331 00:18:11,320 --> 00:18:13,320 Speaker 1: know if you saw it just happened this week. The 332 00:18:13,320 --> 00:18:15,480 Speaker 1: BLS came and said they're gonna change the way they 333 00:18:15,520 --> 00:18:19,639 Speaker 1: calculate cp I. So again again right, they've done it 334 00:18:19,720 --> 00:18:23,240 Speaker 1: multiple times using shadow Stats. Well, the lightest CPI rating 335 00:18:23,280 --> 00:18:25,159 Speaker 1: was six point five percent. Shadow Stats says we're a 336 00:18:25,200 --> 00:18:27,000 Speaker 1: fifteen point six percent if you go back to how 337 00:18:27,000 --> 00:18:28,879 Speaker 1: they calculate in the eighties. So now they're going to 338 00:18:29,000 --> 00:18:31,520 Speaker 1: change the way they calculate CPI, and instead of looking 339 00:18:31,600 --> 00:18:33,879 Speaker 1: at a two year average of the comparables of the 340 00:18:33,920 --> 00:18:35,879 Speaker 1: comp it's going to be just one year, which is 341 00:18:36,160 --> 00:18:39,600 Speaker 1: the last year, which was the highest inflation we've ever had, 342 00:18:39,640 --> 00:18:42,359 Speaker 1: So you measure from there, it comes down. And so 343 00:18:42,480 --> 00:18:45,639 Speaker 1: even if inflation stays flat from here, which we're trending 344 00:18:45,640 --> 00:18:47,439 Speaker 1: down pretty quickly right now, but let's just say it's 345 00:18:47,280 --> 00:18:49,040 Speaker 1: a look at the economy, it's probably gonna trend not 346 00:18:49,080 --> 00:18:51,280 Speaker 1: even faster, but assuming it just stays flat, by the 347 00:18:51,320 --> 00:18:55,120 Speaker 1: end of Q one will be in the three percent range. Yeah. 348 00:18:55,440 --> 00:18:58,200 Speaker 1: But again so yeah, they're just manipulating the base from 349 00:18:58,200 --> 00:19:02,800 Speaker 1: which they calculate inflation. Even though inflation has come down. 350 00:19:03,560 --> 00:19:05,240 Speaker 1: One thing that everybody has to consider is, like going 351 00:19:05,240 --> 00:19:09,919 Speaker 1: back to last year, inflation started running hot through the 352 00:19:09,960 --> 00:19:15,159 Speaker 1: summer and through or towards like the fall, started climbing 353 00:19:15,240 --> 00:19:20,240 Speaker 1: up and then um all the way through. And so 354 00:19:20,440 --> 00:19:23,600 Speaker 1: even though yes, the inflation rate has come down like 355 00:19:23,680 --> 00:19:26,639 Speaker 1: six five percent, that's still growing on a bigger base 356 00:19:26,720 --> 00:19:29,919 Speaker 1: that was still going to last year and still going up. 357 00:19:29,960 --> 00:19:33,960 Speaker 1: And even if it is only six and a half percent, 358 00:19:34,040 --> 00:19:37,280 Speaker 1: six and a half percent, inflation is still very high. One, 359 00:19:37,320 --> 00:19:40,320 Speaker 1: it's really fifteen and a half percent exactly. For if 360 00:19:40,320 --> 00:19:43,040 Speaker 1: you're using the FEDS manipulated metrics, I mean, their target 361 00:19:43,560 --> 00:19:46,200 Speaker 1: historically has been two percent. They've been teasing like they're 362 00:19:46,200 --> 00:19:48,520 Speaker 1: going to raise that up to four percent. But even 363 00:19:49,200 --> 00:19:52,920 Speaker 1: if it's four percent, you're still, um, they're still well 364 00:19:52,960 --> 00:19:54,679 Speaker 1: above it, to and a half percent above your target. 365 00:19:55,840 --> 00:19:58,199 Speaker 1: So um. The reason why I would want to kind 366 00:19:58,200 --> 00:19:59,960 Speaker 1: of make that distinction between the economy and the mark 367 00:20:00,040 --> 00:20:03,000 Speaker 1: gets And then now looking at this if if they 368 00:20:03,000 --> 00:20:06,560 Speaker 1: can magically are not magically through changing the way they calculate, 369 00:20:06,600 --> 00:20:09,480 Speaker 1: it could get CPI down to three pc by the 370 00:20:09,520 --> 00:20:11,560 Speaker 1: end of Q one. That gives them all the political 371 00:20:11,600 --> 00:20:15,280 Speaker 1: cover they need to be easy. And again, yes, yes, 372 00:20:15,280 --> 00:20:19,760 Speaker 1: it does, definitely does, and maybe that's the intention behind 373 00:20:19,880 --> 00:20:24,240 Speaker 1: the manipulation of the CPI number. But I also think 374 00:20:25,440 --> 00:20:28,600 Speaker 1: we need to zoom out a bit and realize that 375 00:20:29,160 --> 00:20:31,400 Speaker 1: the US economy, yes it's the largest economy in the world, 376 00:20:31,400 --> 00:20:34,159 Speaker 1: but we're not in a bubble. There are some uh 377 00:20:35,320 --> 00:20:38,960 Speaker 1: sort of negative externalities that can come from outside the US, 378 00:20:39,040 --> 00:20:42,080 Speaker 1: particularly Japan right now, which I think is a canary 379 00:20:42,119 --> 00:20:44,520 Speaker 1: in the coal mine that could throw a wrench in 380 00:20:44,640 --> 00:20:48,760 Speaker 1: any plans in the Federal Reserve might have because the 381 00:20:48,760 --> 00:20:53,360 Speaker 1: Bank of Japan is having a pretty hard time successfully 382 00:20:53,400 --> 00:20:56,800 Speaker 1: controlling their yield curve and they said they're gonna they 383 00:20:56,800 --> 00:21:00,320 Speaker 1: said they may abandon it. Yeah, And they're larger center 384 00:21:00,359 --> 00:21:04,680 Speaker 1: of U S treasuries in the world. They they own 385 00:21:04,760 --> 00:21:07,399 Speaker 1: half of their their bond market, and I think they 386 00:21:07,440 --> 00:21:11,200 Speaker 1: own a lot of their stock market as well. UM 387 00:21:11,280 --> 00:21:16,080 Speaker 1: And I think that's why I'm more cautious going to 388 00:21:16,160 --> 00:21:19,680 Speaker 1: this year again. I think the economic data here in 389 00:21:19,680 --> 00:21:22,840 Speaker 1: the US looks pretty pissed poor, and then like an 390 00:21:22,840 --> 00:21:26,480 Speaker 1: even scarier prospect is this negative externality coming from somewhere 391 00:21:26,520 --> 00:21:30,520 Speaker 1: like Japan or um if Europe, I mean the UK 392 00:21:30,880 --> 00:21:33,920 Speaker 1: got into a pension crisis not too long ago as well. 393 00:21:33,960 --> 00:21:39,000 Speaker 1: There there's like these events that we're not really aware of. 394 00:21:39,080 --> 00:21:41,080 Speaker 1: They can just pop up, and it's like that Mike 395 00:21:41,119 --> 00:21:44,240 Speaker 1: Tyson uh quote. Everybody has a planned to get punched 396 00:21:44,280 --> 00:21:46,679 Speaker 1: in the face. And I think it could be Japan, 397 00:21:46,840 --> 00:21:50,159 Speaker 1: could be Europe, it could be somewhere else. But I 398 00:21:50,200 --> 00:21:54,879 Speaker 1: think there there's somebody crouching behind the low in the 399 00:21:54,920 --> 00:21:58,560 Speaker 1: bush waiting to punch global markets in the face. By 400 00:21:58,600 --> 00:22:00,960 Speaker 1: the way, the first interview I in my new studio 401 00:22:01,040 --> 00:22:03,800 Speaker 1: in person was with Mike Tyson, and I asked the 402 00:22:03,800 --> 00:22:06,240 Speaker 1: first question I asked him was did you really say that? 403 00:22:06,280 --> 00:22:08,480 Speaker 1: And I quoted it and he said yeah. I said 404 00:22:08,480 --> 00:22:11,800 Speaker 1: that it wasn't that good of an interview, Um was, 405 00:22:11,800 --> 00:22:14,920 Speaker 1: he hid? Yeah, it was. It was a big Yeah, 406 00:22:15,000 --> 00:22:16,720 Speaker 1: it was. It was pretty difficult. I think that. And 407 00:22:16,760 --> 00:22:20,320 Speaker 1: he was eating mushrooms at the same time, and it 408 00:22:20,359 --> 00:22:22,639 Speaker 1: was like it was like it was like sitting across 409 00:22:22,640 --> 00:22:24,720 Speaker 1: the table from like a caged lion, except where he 410 00:22:24,760 --> 00:22:27,480 Speaker 1: didn't have the chain one. You know, you don't want 411 00:22:27,480 --> 00:22:29,359 Speaker 1: to you don't want to piss. And I was like 412 00:22:29,480 --> 00:22:30,960 Speaker 1: and I and I kind of did. I kind of 413 00:22:31,080 --> 00:22:34,200 Speaker 1: like digging into questions and he was like, okay, So anyway, 414 00:22:34,440 --> 00:22:36,439 Speaker 1: it wasn't my best interview, but anyway I did. I 415 00:22:36,440 --> 00:22:40,560 Speaker 1: did ask him that question. Um, you had also talked 416 00:22:40,600 --> 00:22:44,000 Speaker 1: about what's going on with the bricks nations and even 417 00:22:44,080 --> 00:22:46,920 Speaker 1: Saudi Arabia and the Petro dollar, and so that also 418 00:22:46,960 --> 00:22:49,879 Speaker 1: throws a massive wrench, right, So the FED can control 419 00:22:49,880 --> 00:22:51,760 Speaker 1: who's in their system. But if there's these other people 420 00:22:51,800 --> 00:22:55,160 Speaker 1: moving into the other system, then they lose control over that. Yeah, exactly. 421 00:22:55,200 --> 00:22:59,280 Speaker 1: I mean so this, I have a tag on my 422 00:22:59,320 --> 00:23:02,000 Speaker 1: website called oil wars, and we started writing about this 423 00:23:02,800 --> 00:23:06,320 Speaker 1: in September seventeen. This issue isn't hasn't made it on 424 00:23:06,320 --> 00:23:08,960 Speaker 1: the website yet. I'm still going back and adding all 425 00:23:09,000 --> 00:23:12,840 Speaker 1: the previous issues I wrote before transitioning to ghosts. But 426 00:23:14,080 --> 00:23:19,840 Speaker 1: in September it was the first time I spoke of 427 00:23:19,920 --> 00:23:23,040 Speaker 1: these oil wars. And at the time, China it was 428 00:23:23,119 --> 00:23:29,040 Speaker 1: simply expressing its intent where it's wish to UH to 429 00:23:29,160 --> 00:23:33,000 Speaker 1: denominate their oil trades in Yuan with Saudi Arabia, and 430 00:23:33,040 --> 00:23:35,560 Speaker 1: at the time nobody really thought much of it. It 431 00:23:35,640 --> 00:23:38,040 Speaker 1: was just like China saying, like, we we'd like to 432 00:23:38,359 --> 00:23:41,760 Speaker 1: settle this in Yuan, and nobody thought it was a 433 00:23:41,840 --> 00:23:46,000 Speaker 1: real possibility. Fast forward the last two years, obviously Russia, 434 00:23:46,119 --> 00:23:48,920 Speaker 1: Ukraine and the sanctions that came with it have really 435 00:23:50,280 --> 00:23:54,560 Speaker 1: um shown to the bricks nations, specifically that the US 436 00:23:54,600 --> 00:23:59,960 Speaker 1: can weaponize the dollar system swift and even UH confiscate 437 00:24:00,920 --> 00:24:03,840 Speaker 1: central bank reserves from these countries. And so I think 438 00:24:03,920 --> 00:24:09,400 Speaker 1: that's accelerated a move toward a decay in the Petriot 439 00:24:09,440 --> 00:24:15,000 Speaker 1: dollar system when and this is really accelerated particularly in 440 00:24:15,000 --> 00:24:19,399 Speaker 1: the last six weeks when UH President g went to 441 00:24:19,400 --> 00:24:24,879 Speaker 1: Saudi Arabia and had a meeting with them, with the 442 00:24:24,920 --> 00:24:29,000 Speaker 1: Prince of Saudi Arabia and other GCC members. UH and 443 00:24:29,040 --> 00:24:30,760 Speaker 1: at the end of that meeting expressed that yes, we're 444 00:24:30,760 --> 00:24:34,440 Speaker 1: gonna strengthen our relationship with Saudi Arabia, We're gonna begin 445 00:24:35,000 --> 00:24:37,359 Speaker 1: buying more oil from them, and on top of that, 446 00:24:37,400 --> 00:24:39,320 Speaker 1: we're gonna settle these trades and you want. We've set 447 00:24:39,359 --> 00:24:42,640 Speaker 1: up this four x exchange in Beijing. I believe hinjen 448 00:24:43,200 --> 00:24:45,640 Speaker 1: um that is going to allow us to facilitate these 449 00:24:45,680 --> 00:24:49,320 Speaker 1: oil trades in Yuan UM and then you fast forwards. Yesterday, 450 00:24:49,840 --> 00:24:55,720 Speaker 1: UM at the Alvas, representative from Saudi Arabia was interviewed 451 00:24:55,720 --> 00:25:00,280 Speaker 1: by Bloomberg and he came out basically confirmed, Yes, we're 452 00:25:00,280 --> 00:25:03,040 Speaker 1: gonna strengthen our relationship with China and we're gonna do 453 00:25:03,119 --> 00:25:07,199 Speaker 1: you Wan settled oil trades. But on top of that, 454 00:25:07,240 --> 00:25:12,000 Speaker 1: we're open to doing a settlement in other currencies as wealth. 455 00:25:12,760 --> 00:25:14,320 Speaker 1: We can do it in euros, we can do it 456 00:25:14,440 --> 00:25:18,679 Speaker 1: in real UM and so that signals that the US 457 00:25:19,640 --> 00:25:23,359 Speaker 1: dollar reserve system is beginning to be significantly threatened, because 458 00:25:23,400 --> 00:25:26,639 Speaker 1: that is what really gives the dollar a lot of 459 00:25:26,640 --> 00:25:28,720 Speaker 1: its strength is the fact that all these countries have 460 00:25:28,840 --> 00:25:32,159 Speaker 1: to go they buy will from Saudi Arabia converted at 461 00:25:32,160 --> 00:25:33,960 Speaker 1: the dollars, and that drives demand for the dollar. And 462 00:25:33,960 --> 00:25:37,879 Speaker 1: it seems like pretty quickly that is not going to 463 00:25:37,960 --> 00:25:40,679 Speaker 1: be the situation anymore. Um. And then when you factor 464 00:25:40,720 --> 00:25:47,040 Speaker 1: in that China's opening back up, our economy is still growing, um, 465 00:25:47,359 --> 00:25:50,440 Speaker 1: it could becoming a significant buyer of oil from Saudi Arabia, 466 00:25:50,760 --> 00:25:54,160 Speaker 1: and it gives Saudi Arabia the ability to be like, hey, 467 00:25:55,000 --> 00:25:57,840 Speaker 1: the United States, thank you for the decades of an 468 00:25:57,880 --> 00:26:02,120 Speaker 1: incredible relationship. The Petris tear dollar system worked well, it did, 469 00:26:02,200 --> 00:26:04,640 Speaker 1: but we're we're we have a lot more buyers and 470 00:26:05,040 --> 00:26:08,720 Speaker 1: we're gonna we're gonna appease them as well. Yeah. So 471 00:26:08,800 --> 00:26:12,439 Speaker 1: you have this fractured sort of oil trade. Do you 472 00:26:12,480 --> 00:26:15,560 Speaker 1: see the world continuing to fracture in this way? I 473 00:26:15,840 --> 00:26:19,280 Speaker 1: continue to move into a multipolar world? Um? I think 474 00:26:19,320 --> 00:26:21,879 Speaker 1: so yeah, not just the bricks, but maybe even into 475 00:26:21,920 --> 00:26:25,920 Speaker 1: smaller factions. Oh yeah, bricks, I mean you can even 476 00:26:25,920 --> 00:26:29,520 Speaker 1: here in the United States, I think we're we're sort 477 00:26:29,520 --> 00:26:32,840 Speaker 1: of having a a multi polar union, if you will, 478 00:26:33,280 --> 00:26:36,800 Speaker 1: states like Texas, Florida. You have the secession movement up 479 00:26:36,840 --> 00:26:41,040 Speaker 1: in Idaho and Oregon that's been getting some steam. I think, 480 00:26:41,600 --> 00:26:42,760 Speaker 1: I think that it's gonna be the big trend in 481 00:26:42,800 --> 00:26:47,080 Speaker 1: the next couple of decades. Is uh, like at different scales, 482 00:26:47,520 --> 00:26:50,480 Speaker 1: going local, whether it's in a particular region of the 483 00:26:50,520 --> 00:26:52,960 Speaker 1: world or even a particular region of the United States. 484 00:26:54,520 --> 00:26:57,719 Speaker 1: And so then if if the world continues to break apart, 485 00:26:58,119 --> 00:27:01,880 Speaker 1: trust is continue to break down, Um, the dollar, which 486 00:27:01,920 --> 00:27:04,119 Speaker 1: has been the most trusted system, which isn't really trust 487 00:27:04,119 --> 00:27:07,159 Speaker 1: it anymore. To your point, Um, if Russia gets their 488 00:27:07,200 --> 00:27:10,600 Speaker 1: FIC reserve sees the mean, what chances anybody else have Exactly? 489 00:27:12,400 --> 00:27:14,600 Speaker 1: So you think that really opens up the door for 490 00:27:14,640 --> 00:27:18,320 Speaker 1: a new form of payment settlement. I think so in 491 00:27:18,320 --> 00:27:22,520 Speaker 1: the long run, if we focus particularly onlike these oil 492 00:27:22,760 --> 00:27:26,200 Speaker 1: trades and using different currencies to settle that. I mean, 493 00:27:26,200 --> 00:27:30,920 Speaker 1: I do think bitcoin is perfectly suited for all these trades. 494 00:27:31,320 --> 00:27:34,879 Speaker 1: From a mechanical and engineering perspective. It's a peer to 495 00:27:34,920 --> 00:27:40,280 Speaker 1: peer distributed network that allows you to make transactions with 496 00:27:40,320 --> 00:27:42,720 Speaker 1: the counterpart that you may not trust your trusting let's 497 00:27:42,760 --> 00:27:46,679 Speaker 1: distributing that big piece, right, You're not trusting that the 498 00:27:46,760 --> 00:27:49,800 Speaker 1: US won't take your money or say they're holding your 499 00:27:49,800 --> 00:27:52,720 Speaker 1: money and just not give it to you. You can't 500 00:27:52,760 --> 00:27:56,000 Speaker 1: do that with bitcoin. So I do think from an 501 00:27:56,000 --> 00:27:59,840 Speaker 1: engineering perspective, it's perfect to facilitate these types of trades. However, 502 00:28:00,320 --> 00:28:02,199 Speaker 1: I do things there will be interim period where you 503 00:28:02,240 --> 00:28:04,840 Speaker 1: have the sort of fractured markets where the Chinese are 504 00:28:04,840 --> 00:28:08,399 Speaker 1: setting you on, maybe the Europeans defect from the US 505 00:28:08,440 --> 00:28:11,240 Speaker 1: and they decide they want to settle in euros and 506 00:28:11,240 --> 00:28:14,879 Speaker 1: then go on down the line. Um. And that's simply 507 00:28:14,920 --> 00:28:18,879 Speaker 1: because bitcoin doesn't have a liquidity profile at the moment 508 00:28:18,920 --> 00:28:24,119 Speaker 1: too um to facilitate oil trade on the magnitude that 509 00:28:24,119 --> 00:28:27,800 Speaker 1: would be necessary, um Like, there will be a lot 510 00:28:27,840 --> 00:28:30,520 Speaker 1: of slippage and stuff like that right now, especially if 511 00:28:30,520 --> 00:28:32,760 Speaker 1: they're just using bitcoin as a rail on the knee 512 00:28:33,160 --> 00:28:36,880 Speaker 1: automatically liquidate on the other end. Um. I do think 513 00:28:37,760 --> 00:28:41,959 Speaker 1: when bitcoin gets to a multi trillion dollar market, uh, 514 00:28:42,320 --> 00:28:46,360 Speaker 1: the facilitation of those types of trade settlements will will 515 00:28:46,360 --> 00:28:50,680 Speaker 1: be better. And then also I think if bitcoin does 516 00:28:50,720 --> 00:28:53,040 Speaker 1: get to that market, it signals that all these FI 517 00:28:53,280 --> 00:28:56,040 Speaker 1: currencies are being debased pretty heavily, and so people are 518 00:28:56,040 --> 00:28:59,680 Speaker 1: adopting bitcoin, um, And at that point that's when it 519 00:28:59,720 --> 00:29:03,440 Speaker 1: fled ups because, Uh, the slip at you would have 520 00:29:04,440 --> 00:29:07,520 Speaker 1: using a field currency to buy oil would be larger 521 00:29:07,560 --> 00:29:09,720 Speaker 1: than the slippet that you would incur using bitcoin because 522 00:29:09,720 --> 00:29:12,320 Speaker 1: Bitcoin would be more stable at that point. Yeah, you 523 00:29:12,360 --> 00:29:14,880 Speaker 1: mentioned liquidity and like that's kind of like the big thing, right, 524 00:29:14,920 --> 00:29:18,440 Speaker 1: So it's like, um, people want to trade in dollars 525 00:29:18,480 --> 00:29:21,400 Speaker 1: because they can use dollars anywhere in the world. And 526 00:29:21,640 --> 00:29:23,400 Speaker 1: I guess I could trade with China now and they 527 00:29:23,440 --> 00:29:25,880 Speaker 1: could pay me in yuan because I could just buy 528 00:29:25,880 --> 00:29:28,240 Speaker 1: stuff from China back and you want. But I probably 529 00:29:28,280 --> 00:29:30,400 Speaker 1: wouldn't be able to buy stuff from other countries in yuan. 530 00:29:30,520 --> 00:29:32,320 Speaker 1: Or maybe some might take it because they know they 531 00:29:32,440 --> 00:29:35,959 Speaker 1: need trade with China. But why would I take a 532 00:29:36,000 --> 00:29:38,600 Speaker 1: smaller known currency the Turkish lira? What am I? What 533 00:29:38,640 --> 00:29:40,560 Speaker 1: am I gonna do with the Turkish lira? Right? Or 534 00:29:40,600 --> 00:29:42,840 Speaker 1: bitcoin for that example, right, So we needed to have 535 00:29:42,920 --> 00:29:46,200 Speaker 1: more liquidity, more acceptance globally for them people to be 536 00:29:46,240 --> 00:29:48,479 Speaker 1: able to receive it like Russian ruble, Like we only 537 00:29:48,520 --> 00:29:50,920 Speaker 1: take Russian rouble and they're getting paid in Russian ruble, 538 00:29:51,280 --> 00:29:52,680 Speaker 1: but what are they going to do with those rubles? No, 539 00:29:52,680 --> 00:29:55,280 Speaker 1: one's god not take them. So like you can get 540 00:29:55,280 --> 00:29:56,719 Speaker 1: paid in bitcoin, but you need someone else to take 541 00:29:56,720 --> 00:29:59,800 Speaker 1: those bitcoin from you. Exactly right. Yes, we need more adoption. 542 00:30:00,000 --> 00:30:03,480 Speaker 1: And as funny as it's not even a chicken and 543 00:30:03,520 --> 00:30:08,280 Speaker 1: egg problem, it's just like a it's an evolution. Evolution, yeah, 544 00:30:08,440 --> 00:30:11,160 Speaker 1: where people get more familiar with it, it gets bedded 545 00:30:11,200 --> 00:30:17,360 Speaker 1: into more merchant systems, which is happening, gets embedded into 546 00:30:17,400 --> 00:30:21,640 Speaker 1: more balance sheets as a as an inflation, they're not 547 00:30:21,680 --> 00:30:23,520 Speaker 1: inflation hedge park where you yell at me for saying 548 00:30:23,560 --> 00:30:29,280 Speaker 1: that as a means store wealth over time. But yeah, 549 00:30:29,280 --> 00:30:31,760 Speaker 1: I think we're just going through the evolution. Really, fourteen 550 00:30:32,680 --> 00:30:36,440 Speaker 1: years into this bit, Quinn is still extremely young. Um, 551 00:30:36,520 --> 00:30:38,720 Speaker 1: there's still a lot of infrastructure be built out. But 552 00:30:38,760 --> 00:30:41,360 Speaker 1: I do think slowly but shortly over time, it's all 553 00:30:41,400 --> 00:30:45,560 Speaker 1: gonna come. Yeah. Let's uh, well, let's park that and 554 00:30:45,640 --> 00:30:47,040 Speaker 1: let's jump to a couple of other things and we'll 555 00:30:47,040 --> 00:30:50,600 Speaker 1: come back and tie that together. So you've been talking 556 00:30:50,600 --> 00:30:54,880 Speaker 1: about on your Twitter feed the weft, the weapon. The 557 00:30:54,920 --> 00:31:00,680 Speaker 1: weft is meeting Um, Klaus Schwab called out for everyone, 558 00:31:00,840 --> 00:31:04,360 Speaker 1: all the people to come in master the future. That 559 00:31:04,480 --> 00:31:07,560 Speaker 1: was his call. We need to master the future. So 560 00:31:07,600 --> 00:31:12,719 Speaker 1: these people have this grand plan, the the global business 561 00:31:12,840 --> 00:31:17,680 Speaker 1: leaders and influencers, etcetera. Right, Um, have you been paying 562 00:31:17,680 --> 00:31:20,360 Speaker 1: attention to that at all? Yeah, I've been following along 563 00:31:20,360 --> 00:31:23,640 Speaker 1: this week because these people have been getting on stage 564 00:31:23,680 --> 00:31:27,760 Speaker 1: and word vomiting all over the world. It's very creepy. 565 00:31:28,080 --> 00:31:31,640 Speaker 1: Any uh, any any new plans that they have that 566 00:31:32,840 --> 00:31:34,520 Speaker 1: you've seen that are different than what we already kind 567 00:31:34,520 --> 00:31:38,280 Speaker 1: of know about. I think one of the people aren't 568 00:31:38,320 --> 00:31:42,440 Speaker 1: aware of is the intent more than than The World 569 00:31:42,440 --> 00:31:44,920 Speaker 1: Economic Forum is starting to put out this narrative that 570 00:31:45,080 --> 00:31:50,240 Speaker 1: it is essential to prevent um cybercrimes from happening happening, 571 00:31:50,280 --> 00:31:53,920 Speaker 1: that that we emerge the banking sector with the intelligence 572 00:31:54,280 --> 00:31:58,440 Speaker 1: agencies so that um, you sort of roll them up 573 00:31:58,440 --> 00:32:03,840 Speaker 1: into one entity that's able to manage the monetary side 574 00:32:03,840 --> 00:32:07,160 Speaker 1: of things and the financial side of things and the 575 00:32:07,160 --> 00:32:10,720 Speaker 1: surveillance side of things. So that is one very wearing 576 00:32:12,080 --> 00:32:14,480 Speaker 1: narrative that's coming out of the World Economic Forum. So 577 00:32:14,600 --> 00:32:16,760 Speaker 1: still kind of beating the drum on the cyber pandemic. 578 00:32:16,800 --> 00:32:20,680 Speaker 1: The potential dangers of this cyber crimes or whatever um 579 00:32:20,720 --> 00:32:24,040 Speaker 1: and then introducing new suggestions of how they could fix that, 580 00:32:24,560 --> 00:32:27,200 Speaker 1: which of course is more control. And it's a private 581 00:32:27,240 --> 00:32:31,160 Speaker 1: public partnership and you get the private banks and they 582 00:32:31,320 --> 00:32:34,880 Speaker 1: the intelligence agencies represent the public and you just partner 583 00:32:34,880 --> 00:32:42,000 Speaker 1: of them together, which is incredibly scary thought experiment to 584 00:32:42,000 --> 00:32:44,400 Speaker 1: go down, because, I mean, the intelligence agencies, I think 585 00:32:44,400 --> 00:32:48,800 Speaker 1: are some of the most evil yeah entities on the world. 586 00:32:48,920 --> 00:32:51,840 Speaker 1: I mean, the CIA just don't even think that's debatable. No, 587 00:32:51,960 --> 00:32:53,480 Speaker 1: I mean it just came out. They just admitted that 588 00:32:53,520 --> 00:32:57,000 Speaker 1: they kill JFK. What about m ok m Okay. Yeah, 589 00:32:57,040 --> 00:32:59,080 Speaker 1: the FBI is out there tweeting we want to honor 590 00:32:59,200 --> 00:33:03,000 Speaker 1: m Okay. Uh. They were threatening to and they were 591 00:33:03,000 --> 00:33:05,320 Speaker 1: telling him to kill himself, and many people think they 592 00:33:05,480 --> 00:33:09,400 Speaker 1: were part of his murder. The CIA was started by 593 00:33:09,520 --> 00:33:13,160 Speaker 1: it was startup seated with Nazis. Like when we started 594 00:33:13,160 --> 00:33:15,920 Speaker 1: the CIA, we pulled out all the Nazi scientists and 595 00:33:15,960 --> 00:33:20,320 Speaker 1: engineers and they started their psychological warfare. Every thing's like 596 00:33:20,360 --> 00:33:24,120 Speaker 1: Operation Paper Click, mocking Bird, MK Ultra and these are 597 00:33:24,120 --> 00:33:26,120 Speaker 1: all people are like, oh, that's a conspiracy theory, Like no, 598 00:33:26,240 --> 00:33:29,080 Speaker 1: this is all FOIA. This is all information you get 599 00:33:29,120 --> 00:33:33,040 Speaker 1: from a FOIA requests, like it's all out there, and 600 00:33:33,040 --> 00:33:35,840 Speaker 1: then you have the FBI. I was like watching videos 601 00:33:35,880 --> 00:33:38,400 Speaker 1: of ray apps yesterday. It's like this guy work for 602 00:33:38,440 --> 00:33:40,360 Speaker 1: the FBI is like everybody get in the capital. Like 603 00:33:40,400 --> 00:33:47,479 Speaker 1: that was an obvious intelligence agency run called a false flag. 604 00:33:48,400 --> 00:33:51,800 Speaker 1: The FBI is notorious for entrapment. These people don't want 605 00:33:51,800 --> 00:33:55,120 Speaker 1: to protect you, They want to incite you to give 606 00:33:55,240 --> 00:34:00,800 Speaker 1: up your rights. That Gretchen Whitmeyer can apping plot for 607 00:34:00,880 --> 00:34:04,440 Speaker 1: the governor and like half of the people involved were 608 00:34:04,480 --> 00:34:07,560 Speaker 1: all like government agencies. Yeah, like they were all entrapping 609 00:34:07,600 --> 00:34:11,279 Speaker 1: each other. It's I mean insanity. Um I was, I 610 00:34:11,320 --> 00:34:15,640 Speaker 1: was telling these guys earlier today. Um how when I 611 00:34:15,680 --> 00:34:17,400 Speaker 1: was a kid, because I'm old. When I was a kid, 612 00:34:17,480 --> 00:34:20,279 Speaker 1: there was the Iran Contra all over North was you know, 613 00:34:20,360 --> 00:34:23,920 Speaker 1: brought under the Reagan administration whatever, and um the Iran 614 00:34:23,960 --> 00:34:28,280 Speaker 1: contra deal was they were taking drugs from El Salvador, 615 00:34:28,320 --> 00:34:31,880 Speaker 1: flying him to Los Angeles, selling the cocaine in the streets, 616 00:34:32,440 --> 00:34:35,040 Speaker 1: getting people hooked on crack, taking the cash given it 617 00:34:35,080 --> 00:34:37,359 Speaker 1: to Iran, buying weapons and then bringing the weapons back 618 00:34:37,400 --> 00:34:40,160 Speaker 1: to overthrow the government and in Costa Rica. We were 619 00:34:40,200 --> 00:34:44,160 Speaker 1: down there a month ago and they have one of 620 00:34:44,200 --> 00:34:46,560 Speaker 1: the planes crashed in Costa Rica and they've turned it 621 00:34:46,560 --> 00:34:48,320 Speaker 1: into like a restaurant now, and even go there and 622 00:34:48,360 --> 00:34:50,440 Speaker 1: they have the whole story there and it's like this 623 00:34:50,520 --> 00:34:52,360 Speaker 1: is all document, it's all on the open, like everybody 624 00:34:52,400 --> 00:34:56,200 Speaker 1: knows this. Yeah, that's then you get into this whole. 625 00:34:56,680 --> 00:34:58,160 Speaker 1: I mean, this is something I haven't really been paying 626 00:34:58,160 --> 00:35:01,880 Speaker 1: attention to it, which is highlights the hypocrisy of these agencies, 627 00:35:01,920 --> 00:35:06,560 Speaker 1: which is the classified documents where um Trump had some. 628 00:35:07,239 --> 00:35:09,600 Speaker 1: I didn't even die deep into that, but he had some. 629 00:35:09,800 --> 00:35:12,920 Speaker 1: His house got rated. It was a whole big story. 630 00:35:13,080 --> 00:35:15,520 Speaker 1: And we find out Joe Biden has some and it's 631 00:35:15,560 --> 00:35:18,759 Speaker 1: like that's whatever, like it was a mistake, and there's 632 00:35:18,880 --> 00:35:21,719 Speaker 1: very Do you think it's all whatever or do you 633 00:35:21,719 --> 00:35:23,480 Speaker 1: think they're setting him up to get him out because 634 00:35:23,480 --> 00:35:24,759 Speaker 1: he said he was going to run again, and I 635 00:35:24,800 --> 00:35:27,200 Speaker 1: don't want him run again. I mean, he can't run again. 636 00:35:27,360 --> 00:35:30,360 Speaker 1: He can't think, he can't speak, you can't walk, you 637 00:35:30,360 --> 00:35:32,400 Speaker 1: should not be president. It would not surprise me if 638 00:35:32,440 --> 00:35:35,840 Speaker 1: that's their intention either. But then it's a weird place 639 00:35:35,880 --> 00:35:40,080 Speaker 1: where if they try to get him out before you 640 00:35:40,120 --> 00:35:47,480 Speaker 1: have Kamala Harris, who's just walking incompetent yeah bolt Yeah. 641 00:35:49,400 --> 00:35:52,799 Speaker 1: So um, getting back to the big WEFT meeting that 642 00:35:52,880 --> 00:35:55,400 Speaker 1: was going on, so master the future, um, the cyber 643 00:35:55,400 --> 00:35:57,520 Speaker 1: pandemic um. I was looking at a list of like 644 00:35:57,560 --> 00:35:59,400 Speaker 1: topics that they were going to discuss, and one was 645 00:35:59,560 --> 00:36:02,040 Speaker 1: about the next pandemic. How to prepare or prevent like 646 00:36:02,080 --> 00:36:07,160 Speaker 1: the next pandemic from happening, um, Which might seem reasonable 647 00:36:07,280 --> 00:36:11,240 Speaker 1: to some people if they don't understand what's just happened. Um, 648 00:36:11,280 --> 00:36:13,600 Speaker 1: But how do you prevent the next pandemic? How about 649 00:36:13,640 --> 00:36:18,960 Speaker 1: you don't create bioweapons, bioweapons, using't gain a function. That's 650 00:36:18,960 --> 00:36:21,840 Speaker 1: a pretty that's a pretty good start. Yeah. Um. What 651 00:36:21,920 --> 00:36:25,280 Speaker 1: about have you seen these fifteen minutes cities? Oh yes, 652 00:36:26,440 --> 00:36:29,200 Speaker 1: I mean the Netherlands is ground zero for this, where 653 00:36:29,239 --> 00:36:32,760 Speaker 1: they're taking all the farm land um and trying to 654 00:36:32,800 --> 00:36:35,520 Speaker 1: create these I forget what they're calling them, at these 655 00:36:35,560 --> 00:36:38,279 Speaker 1: cities where everything you'll ever need in your life is 656 00:36:38,440 --> 00:36:44,040 Speaker 1: within fifteen minutes within walking the king. Um. Yeah, it's scary. 657 00:36:44,880 --> 00:36:48,040 Speaker 1: It's again like going back to WEFT in Davis this week, 658 00:36:48,080 --> 00:36:51,320 Speaker 1: they're still leading into the climate crisis, which doesn't exist. 659 00:36:51,880 --> 00:36:55,440 Speaker 1: They're they're using it as a fair tactic to try 660 00:36:55,480 --> 00:36:59,319 Speaker 1: to coerce people to y be like all right, I 661 00:36:59,320 --> 00:37:02,040 Speaker 1: think the Netherland's thing. They're telling his farmers to give 662 00:37:02,120 --> 00:37:07,399 Speaker 1: up their farmland because of because of the I believe 663 00:37:07,400 --> 00:37:10,640 Speaker 1: it's signed up to that there. Yeah, the cows, Well, 664 00:37:10,719 --> 00:37:14,080 Speaker 1: was the fertilizer too much fertilizers being used, which I've 665 00:37:14,120 --> 00:37:16,239 Speaker 1: looked into that a little bit. And uh, because we 666 00:37:16,280 --> 00:37:19,279 Speaker 1: live in a complex system, central planners messed everything up 667 00:37:19,280 --> 00:37:20,560 Speaker 1: when they try to fix one thing that creates all 668 00:37:20,600 --> 00:37:23,840 Speaker 1: these unengineed consequences. And because of rule changes they placed 669 00:37:23,840 --> 00:37:27,840 Speaker 1: in the EU, it pushed all the cows and farming 670 00:37:27,920 --> 00:37:31,520 Speaker 1: to the Netherlands, so it all got concentrated there. So 671 00:37:31,600 --> 00:37:33,600 Speaker 1: the reason why there's so much there is because of 672 00:37:33,640 --> 00:37:36,600 Speaker 1: previous rule changes that that took it from a decentralized 673 00:37:36,640 --> 00:37:38,640 Speaker 1: state where it was all spread out across the countrysides 674 00:37:38,640 --> 00:37:40,000 Speaker 1: like I should be, and it pushed it all into 675 00:37:40,000 --> 00:37:43,200 Speaker 1: the one little area. UM. And now they're trying to go, 676 00:37:43,239 --> 00:37:44,960 Speaker 1: well now we have now we've created another problem to 677 00:37:45,080 --> 00:37:47,719 Speaker 1: go solve that UM and the Netherlands I believe is 678 00:37:48,400 --> 00:37:52,560 Speaker 1: like the top exporter of like food. Yeah right, so 679 00:37:52,719 --> 00:37:56,320 Speaker 1: like um, the u N says eight hundred and sixty 680 00:37:56,360 --> 00:38:01,040 Speaker 1: eight million, almost a billion people could potentially starved to 681 00:38:01,080 --> 00:38:03,200 Speaker 1: death in the next twenty four months. We have the 682 00:38:03,280 --> 00:38:06,120 Speaker 1: largest exporter of food in Europe and they want to 683 00:38:06,200 --> 00:38:10,400 Speaker 1: shut them down. It's makes disgusting and they're in their 684 00:38:10,520 --> 00:38:13,920 Speaker 1: justification for it doesn't make any sense of the whole 685 00:38:14,280 --> 00:38:19,400 Speaker 1: carbon emissions boogeyman uh narrative is disgusting. And then with 686 00:38:19,440 --> 00:38:22,600 Speaker 1: the cows, they use methane um. But if you actually 687 00:38:22,600 --> 00:38:26,759 Speaker 1: look like the composition of the atmosphere, yes, methane is 688 00:38:26,800 --> 00:38:29,160 Speaker 1: a heavier greenhouse gas, but if you look at its 689 00:38:29,160 --> 00:38:33,880 Speaker 1: overall composition of the gases in the atmosphere, it's minuscule, minuscule. 690 00:38:33,920 --> 00:38:35,800 Speaker 1: Even though we're adding all this methane, it's not really 691 00:38:36,400 --> 00:38:40,239 Speaker 1: doing anything to affect it's not taking anything in decomposing grass. 692 00:38:40,920 --> 00:38:44,320 Speaker 1: Emits methane decomposing grass on its own, and the cows 693 00:38:44,320 --> 00:38:46,480 Speaker 1: eat the gas and then they break it down. Even 694 00:38:46,480 --> 00:38:51,560 Speaker 1: more so, we got the weft um potential cyber pandemics 695 00:38:51,600 --> 00:38:54,560 Speaker 1: potentially putting in like I d S and basically taking 696 00:38:54,560 --> 00:38:58,440 Speaker 1: away like anonymous use of the internet. Yes, um, potentially 697 00:38:58,440 --> 00:39:03,000 Speaker 1: health pandemics that they're planning for or somehow or another. Um. 698 00:39:03,160 --> 00:39:06,680 Speaker 1: There were some European representatives laughing at a at a 699 00:39:06,760 --> 00:39:08,759 Speaker 1: US representative of all one of the stages they were 700 00:39:08,800 --> 00:39:11,200 Speaker 1: on saying, Hey, you guys are gonna have to enact 701 00:39:11,239 --> 00:39:14,239 Speaker 1: hate crimes and curb speech in the US. Soon enough, 702 00:39:14,280 --> 00:39:16,160 Speaker 1: it will come. You guys are gonna do it. Um, 703 00:39:16,520 --> 00:39:19,279 Speaker 1: So a tax on free speech, you're can add that 704 00:39:19,320 --> 00:39:23,480 Speaker 1: to it. Klaus Schwab was telling everybody that we're all 705 00:39:23,480 --> 00:39:26,960 Speaker 1: gonna have chips in our head. Um, it's a pretty 706 00:39:28,360 --> 00:39:31,480 Speaker 1: if you think of everything. It's scary that you can 707 00:39:31,520 --> 00:39:33,680 Speaker 1: put in one dystopian novel. They're trying to check all 708 00:39:33,719 --> 00:39:38,400 Speaker 1: the boxes. Now, UM, I love your worldview on this 709 00:39:38,480 --> 00:39:41,920 Speaker 1: because you see all this and you I mean you 710 00:39:42,120 --> 00:39:43,560 Speaker 1: see it, you're not naive to it. But at the 711 00:39:43,600 --> 00:39:46,399 Speaker 1: same time, you tweet all the time like we will win. Yes, 712 00:39:46,520 --> 00:39:50,400 Speaker 1: we're gonna win. So explain that I think. I mean, 713 00:39:50,440 --> 00:39:54,120 Speaker 1: I focus on bitcoin specifically, and that's what we have 714 00:39:54,239 --> 00:39:57,000 Speaker 1: right out here in front of the studios. Fix the money, 715 00:39:57,000 --> 00:39:59,799 Speaker 1: fix the world. I think a lot of the problems, 716 00:40:00,600 --> 00:40:03,520 Speaker 1: uh that we're describing right now emanate from the fact 717 00:40:03,520 --> 00:40:06,239 Speaker 1: that we've broken the money. Um, we need to fix 718 00:40:06,239 --> 00:40:08,480 Speaker 1: the money. We need to fix the way we allocate capital. 719 00:40:08,600 --> 00:40:12,080 Speaker 1: We need to fix opportunity costs. The ability to print 720 00:40:12,080 --> 00:40:14,920 Speaker 1: money is completely perturbed opportunity costs and led to this 721 00:40:14,960 --> 00:40:18,319 Speaker 1: misallocation of capital, and the people that have control of 722 00:40:18,520 --> 00:40:21,160 Speaker 1: the money printing right now are allocating that capital towards 723 00:40:21,200 --> 00:40:26,680 Speaker 1: these dystopian use cases that we're we're describing, um and 724 00:40:27,280 --> 00:40:29,000 Speaker 1: so like the government's printing a bunch of money and 725 00:40:29,040 --> 00:40:32,920 Speaker 1: then giving them to these organizations. I saw the Uh, 726 00:40:34,239 --> 00:40:37,959 Speaker 1: I'm drawn a blank on the guy's name. They're subsidizing Carpon. 727 00:40:38,040 --> 00:40:40,840 Speaker 1: He just put together a bill to stop funding the 728 00:40:41,000 --> 00:40:43,719 Speaker 1: w h O for example. So that's kind of what 729 00:40:43,719 --> 00:40:47,520 Speaker 1: you're talking about. Should definitely do that. Defund NATO, defund 730 00:40:47,600 --> 00:40:50,120 Speaker 1: all that. But yeah, go backin. We're gonna win because 731 00:40:50,160 --> 00:40:52,759 Speaker 1: bitcoin exists. But if we, if we, if we had 732 00:40:52,760 --> 00:40:55,879 Speaker 1: to fix money supply that they couldn't artificially create, then 733 00:40:55,880 --> 00:40:59,080 Speaker 1: they wouldn't have this money to give to these organizations. Exactly, 734 00:40:59,160 --> 00:41:01,360 Speaker 1: you have to that have to actually work hard for 735 00:41:01,400 --> 00:41:04,279 Speaker 1: it and provide valuable services that people are willing to 736 00:41:04,320 --> 00:41:08,000 Speaker 1: pay for. And then um, they could try to allocate 737 00:41:08,040 --> 00:41:11,640 Speaker 1: that money that way, but it would just get UM 738 00:41:12,040 --> 00:41:14,839 Speaker 1: driven out of office because it would prove to be 739 00:41:15,400 --> 00:41:17,640 Speaker 1: in this allocation of capital yet again. But yeah, and 740 00:41:17,680 --> 00:41:21,160 Speaker 1: I think since bitcoin exists, I've been around for almost 741 00:41:21,200 --> 00:41:24,040 Speaker 1: ten years now, which is hard to believe. And even 742 00:41:24,080 --> 00:41:27,200 Speaker 1: though we're down around twenty dollars, we've had a lot 743 00:41:27,239 --> 00:41:30,640 Speaker 1: of punches to the face and the form of a 744 00:41:30,680 --> 00:41:34,239 Speaker 1: degenerate industry in the crypto space. Really giving bitcoin to 745 00:41:34,280 --> 00:41:40,080 Speaker 1: block black eye, uh, stay of the protocol is never 746 00:41:40,120 --> 00:41:43,719 Speaker 1: been better. Um, more adoption than ever, more people self 747 00:41:43,760 --> 00:41:47,920 Speaker 1: custoding bitcoin than ever. Uh. And you have to bitcoin. 748 00:41:48,560 --> 00:41:51,080 Speaker 1: I tweeted this out the other day, Like bitcoin is 749 00:41:51,080 --> 00:41:53,680 Speaker 1: just extremely reliable. You know, it's going to produce a 750 00:41:53,719 --> 00:41:57,400 Speaker 1: block of transactions that are produced and a peer to 751 00:41:57,480 --> 00:42:03,640 Speaker 1: peer fashion that don't uh or censorship resistant roughly every 752 00:42:03,680 --> 00:42:06,279 Speaker 1: ten minutes. And that reliability and a world full of 753 00:42:06,320 --> 00:42:08,839 Speaker 1: all this chaos is a godsend, Like and I don't 754 00:42:08,880 --> 00:42:12,960 Speaker 1: think people are pricing in that reliability yet. And then 755 00:42:12,960 --> 00:42:16,440 Speaker 1: on top of that, I think from a distribution standpoint 756 00:42:16,719 --> 00:42:19,600 Speaker 1: of the actual nodes in the network, the mining of 757 00:42:19,640 --> 00:42:23,400 Speaker 1: the network has gotten a little bit concentrated here in Texas. 758 00:42:23,600 --> 00:42:28,680 Speaker 1: But UM, I think overall it is significantly more distributed 759 00:42:28,719 --> 00:42:31,840 Speaker 1: than it was let's say five years ago. UM. And 760 00:42:32,160 --> 00:42:36,680 Speaker 1: I think every day the bitcoin survives, keeps producing blocks, 761 00:42:38,320 --> 00:42:40,879 Speaker 1: keeps producing, the miners, keep producing hashes, it just gets 762 00:42:40,880 --> 00:42:43,560 Speaker 1: harder and harder to shut bitcoin down. Then on top 763 00:42:43,640 --> 00:42:47,319 Speaker 1: of that, it's growing in mind share as well. Um, 764 00:42:47,440 --> 00:42:50,120 Speaker 1: there's more engineers coming to bit on the networks and 765 00:42:50,239 --> 00:42:53,800 Speaker 1: more cool things that you can build on second layers, 766 00:42:53,840 --> 00:42:58,240 Speaker 1: like Lightning network. And this is just enabling this value 767 00:42:58,280 --> 00:43:02,319 Speaker 1: transfer and these types of applications that have never been 768 00:43:02,320 --> 00:43:07,239 Speaker 1: possible and really enable the individual to get away from 769 00:43:07,280 --> 00:43:10,840 Speaker 1: all this crazy and to win. Because I mean, the 770 00:43:12,520 --> 00:43:14,800 Speaker 1: you know'll tried and true trope is like, oh, just vote, 771 00:43:14,840 --> 00:43:17,799 Speaker 1: if you vote, just vote harder and you'll get out 772 00:43:17,800 --> 00:43:20,040 Speaker 1: of this. And that, my opinion, is never gonna work. 773 00:43:20,800 --> 00:43:25,160 Speaker 1: We need to go build this system outside of the 774 00:43:25,160 --> 00:43:28,120 Speaker 1: FIAT system and then we can then begin fixing things 775 00:43:28,120 --> 00:43:29,680 Speaker 1: from there. And then on top of that, you just 776 00:43:29,760 --> 00:43:35,600 Speaker 1: have just the sovereign movements, more people buying ranches, spinning 777 00:43:35,640 --> 00:43:41,200 Speaker 1: up farms, and getting more in touch with homeschooling, UM, 778 00:43:41,440 --> 00:43:45,280 Speaker 1: school choice. Those trends are growing. Uh. And then again, 779 00:43:45,680 --> 00:43:49,759 Speaker 1: you have here in the States, this trend of individual 780 00:43:49,800 --> 00:43:53,960 Speaker 1: states asserting their autonomy against the federal government and against 781 00:43:53,960 --> 00:44:01,320 Speaker 1: black rock against black was it I think Missouri, Florida, Mississippi, 782 00:44:01,440 --> 00:44:06,040 Speaker 1: six states and invested their money. Yeah, billions of dollars um, 783 00:44:06,080 --> 00:44:08,600 Speaker 1: which is good to see. And still obviously you have 784 00:44:08,640 --> 00:44:12,560 Speaker 1: like the NBC archetype which is still doubling and tripling 785 00:44:12,560 --> 00:44:16,480 Speaker 1: down on there their love of authority. Yeah, and that's 786 00:44:16,480 --> 00:44:20,799 Speaker 1: growing as well. But I think the sovereign trend is 787 00:44:20,840 --> 00:44:26,280 Speaker 1: growing faster and stronger than than it has in many decades. Yeah, yeah, 788 00:44:26,400 --> 00:44:28,920 Speaker 1: I agree. You know. It's. Um. The reason why I 789 00:44:29,000 --> 00:44:30,560 Speaker 1: kind of want to jump to this and we put 790 00:44:30,600 --> 00:44:33,520 Speaker 1: a pin on that kind of adoption piece. Um, the 791 00:44:33,600 --> 00:44:38,520 Speaker 1: road to evolution we're calling it, is just because as humans, 792 00:44:38,560 --> 00:44:41,720 Speaker 1: we only move when we only react when the pain's 793 00:44:41,920 --> 00:44:44,600 Speaker 1: high enough. I've gone to chiropractic most of my life. 794 00:44:44,600 --> 00:44:47,480 Speaker 1: I believe in the chiropractic and that our body should 795 00:44:47,480 --> 00:44:50,279 Speaker 1: be aligned. Um, but I typically only go when I'm 796 00:44:50,280 --> 00:44:54,319 Speaker 1: in pain. I'm busy otherwise, right, um, And so like, 797 00:44:54,400 --> 00:44:55,960 Speaker 1: the pain has to get high enough, and at some 798 00:44:55,960 --> 00:44:58,560 Speaker 1: point the pain is so high that will act um 799 00:44:58,560 --> 00:45:01,040 Speaker 1: from a US centric. You point, it's hard for us 800 00:45:01,080 --> 00:45:02,919 Speaker 1: to get the money situation. But if you're in North 801 00:45:03,000 --> 00:45:07,239 Speaker 1: Korea or in the Congo or in whatever Turkey like you, 802 00:45:08,440 --> 00:45:10,560 Speaker 1: you're watching your money lose a percent of its value. 803 00:45:10,600 --> 00:45:12,600 Speaker 1: Like what, I'll take the risk, right, I'll go into 804 00:45:12,640 --> 00:45:15,440 Speaker 1: something else. But as we talk about the WEF and um, 805 00:45:15,480 --> 00:45:18,120 Speaker 1: what's company with the cyber pandemic, the health pandemic, um, 806 00:45:18,320 --> 00:45:20,920 Speaker 1: all these things, I think it's just gonna keep turning 807 00:45:20,920 --> 00:45:23,640 Speaker 1: that pain dial up and it's only going to accelerate 808 00:45:23,640 --> 00:45:26,560 Speaker 1: the adoption people are going to need constantly and to 809 00:45:26,640 --> 00:45:28,920 Speaker 1: the point of sovereign movement. The sovereign movement is being 810 00:45:29,040 --> 00:45:32,560 Speaker 1: led because there's a need to become a sovereign person, right, 811 00:45:32,560 --> 00:45:34,800 Speaker 1: And as they turn that dial up, more people become sovereign, 812 00:45:34,800 --> 00:45:37,160 Speaker 1: more people will find a bitcoin and so um, I 813 00:45:37,160 --> 00:45:40,200 Speaker 1: guess we have like the S curve, right, Um, so 814 00:45:40,320 --> 00:45:42,399 Speaker 1: the ES curve kind of kind of has this straight 815 00:45:42,480 --> 00:45:44,040 Speaker 1: up and I think we're probably in that period and 816 00:45:44,120 --> 00:45:48,520 Speaker 1: unfortunately the pain dial gets turned up. The good is 817 00:45:48,560 --> 00:45:50,360 Speaker 1: that people wake up and start moving into this in 818 00:45:50,480 --> 00:45:53,600 Speaker 1: this new parallel economy and start building that out. Yeah. No, 819 00:45:53,760 --> 00:45:56,600 Speaker 1: I think the pain dial I mean you mentioned it earlier. 820 00:45:56,640 --> 00:46:01,200 Speaker 1: I think the the combination, well, well, these boomers retiring, 821 00:46:01,480 --> 00:46:06,880 Speaker 1: selling their stocks, and the FED being put and it 822 00:46:06,880 --> 00:46:08,640 Speaker 1: looks like they're going to be put between a rock 823 00:46:08,680 --> 00:46:11,120 Speaker 1: and a hard place where inflation may still be elevated, 824 00:46:11,160 --> 00:46:13,040 Speaker 1: but the economy is doing so bad that they need 825 00:46:13,040 --> 00:46:17,719 Speaker 1: to begin printing money. And if you couple those situations, 826 00:46:17,920 --> 00:46:20,839 Speaker 1: have stocks plumbering because boomers are selling all of it, 827 00:46:20,920 --> 00:46:23,960 Speaker 1: inflation is still high because the supply chains and just 828 00:46:24,080 --> 00:46:27,839 Speaker 1: overall monetary supply growth, and the FED begins printing again 829 00:46:27,880 --> 00:46:31,279 Speaker 1: and then inflation ramps up again. I think that is 830 00:46:31,280 --> 00:46:35,600 Speaker 1: a perfect ship storm to really wake people up and 831 00:46:35,760 --> 00:46:39,320 Speaker 1: feel the pain that will drive them to seek alternatives. 832 00:46:39,320 --> 00:46:42,080 Speaker 1: Like hopefully, if we do get to that point, I 833 00:46:42,080 --> 00:46:44,280 Speaker 1: won't say it's a foregone conclusion, but if that point 834 00:46:44,320 --> 00:46:48,080 Speaker 1: does come, people have to realize. I would imagine that 835 00:46:48,760 --> 00:46:50,879 Speaker 1: the FED doesn't really have control, the government doesn't really 836 00:46:50,920 --> 00:46:53,759 Speaker 1: have control. We need to go seek out alternatives. Who 837 00:46:53,800 --> 00:46:58,200 Speaker 1: has control? Then? You do? Are you as an individual 838 00:46:58,239 --> 00:47:01,120 Speaker 1: we the people? Yeah? Yeah, something I was thinking about 839 00:47:01,120 --> 00:47:03,239 Speaker 1: when I was reading that with Kloup Schwab and he says, 840 00:47:03,360 --> 00:47:05,960 Speaker 1: you know, master the future, and he's calling all these 841 00:47:06,040 --> 00:47:09,080 Speaker 1: business leaders and politicians and influence people to master the future, 842 00:47:09,120 --> 00:47:12,000 Speaker 1: and we need to go create this and we need 843 00:47:12,040 --> 00:47:13,879 Speaker 1: to do this and this is our vision. But it's 844 00:47:13,920 --> 00:47:16,560 Speaker 1: like they didn't ask us, we didn't vote, like who 845 00:47:16,560 --> 00:47:18,480 Speaker 1: are they? Right, and so they wanted to create you 846 00:47:18,480 --> 00:47:23,640 Speaker 1: you you already mentioned it, the public private partnership fascism corporatism. 847 00:47:23,719 --> 00:47:26,320 Speaker 1: So if we get if we get Twitter or Facebook 848 00:47:26,320 --> 00:47:28,400 Speaker 1: to censor people, if we get the banks to not 849 00:47:28,480 --> 00:47:31,440 Speaker 1: fund people, right, if we can get the private businesses 850 00:47:31,480 --> 00:47:33,720 Speaker 1: to work together with the governments, then we can reshape 851 00:47:33,760 --> 00:47:36,400 Speaker 1: the world the way we want without asking our opinion. Right. 852 00:47:36,719 --> 00:47:38,799 Speaker 1: We didn't even bring up to Twitter files where the 853 00:47:38,840 --> 00:47:42,600 Speaker 1: FBI was embedded in twitters headquarters telling them the censor 854 00:47:42,640 --> 00:47:45,799 Speaker 1: and who not to. Yeah, that's a big deal. I 855 00:47:45,840 --> 00:47:48,040 Speaker 1: wanted to ask you about that. Okay, so let's let's 856 00:47:48,040 --> 00:47:50,680 Speaker 1: ask let's let's talk about that for a second. Um 857 00:47:50,800 --> 00:47:52,520 Speaker 1: we can get into Twitter files if you want. I 858 00:47:52,560 --> 00:47:55,759 Speaker 1: was just thinking specifically. Um Must said he wanted to 859 00:47:55,760 --> 00:47:59,200 Speaker 1: buy Twitter to open up free speech. He said that 860 00:48:00,080 --> 00:48:04,160 Speaker 1: he thought it was like for humanity, it was that important. 861 00:48:04,160 --> 00:48:05,960 Speaker 1: It's like the most important thing in humanity or something 862 00:48:05,960 --> 00:48:09,560 Speaker 1: that affect they forget. Um. A lot of people guess 863 00:48:09,560 --> 00:48:11,359 Speaker 1: about his ulterior motives. I made a video his real 864 00:48:11,400 --> 00:48:13,040 Speaker 1: motive was because he's trying to start this new payment 865 00:48:13,080 --> 00:48:16,880 Speaker 1: system and whatever. But anyway, Um, he has opened up 866 00:48:16,920 --> 00:48:21,680 Speaker 1: free speech a lot on Twitter, and it's already seems 867 00:48:21,719 --> 00:48:26,600 Speaker 1: to be reshaping things pretty rapidly. Are you seeing that? Yeah, 868 00:48:26,760 --> 00:48:30,960 Speaker 1: I definitely mean, I definitely see more. Definitely see people 869 00:48:31,160 --> 00:48:36,120 Speaker 1: more comfortable putting out tweets that they probably would not 870 00:48:36,200 --> 00:48:39,759 Speaker 1: have under the last regime. But again, yeah, like he 871 00:48:39,840 --> 00:48:41,640 Speaker 1: has come out and say like we need we're going 872 00:48:41,680 --> 00:48:44,000 Speaker 1: to build like the Wi Bow of the West. And 873 00:48:44,239 --> 00:48:47,280 Speaker 1: I go back and forth with Ellen a trend toward 874 00:48:48,400 --> 00:48:50,160 Speaker 1: I think you might be like a false prophet where 875 00:48:50,160 --> 00:48:52,279 Speaker 1: it's like everybody's like, oh, Ellen, come save us, come 876 00:48:52,320 --> 00:48:54,759 Speaker 1: save free speech. But there's like little things with what 877 00:48:54,800 --> 00:48:58,320 Speaker 1: he's doing to Twitter that makes me raise my eyebrow, 878 00:48:58,440 --> 00:49:00,480 Speaker 1: like the like paying the monthly fee for the blue 879 00:49:00,560 --> 00:49:03,839 Speaker 1: check mark and if you don't pay, uh, you don't 880 00:49:03,880 --> 00:49:07,480 Speaker 1: get as much visibility or engagement. Um, which is interesting. 881 00:49:08,280 --> 00:49:14,439 Speaker 1: And yeah, I think if any I do agree that 882 00:49:15,000 --> 00:49:19,400 Speaker 1: people seem to be speaking more freely on Twitter these days. 883 00:49:19,400 --> 00:49:22,560 Speaker 1: But I don't think we should be dependent on Elon 884 00:49:23,040 --> 00:49:25,359 Speaker 1: sort of waving as one saying you get free speech now. 885 00:49:25,520 --> 00:49:30,719 Speaker 1: We should be building, similar to Bitcoin, alternative communication protocols. 886 00:49:30,719 --> 00:49:34,600 Speaker 1: There's one uh noster that's come out, which is a 887 00:49:34,719 --> 00:49:38,520 Speaker 1: distributed relay system that allows you to build Twitter like 888 00:49:38,640 --> 00:49:42,040 Speaker 1: clients on top of it. And due to how the 889 00:49:42,040 --> 00:49:46,239 Speaker 1: relay system works, it's extremely hard to censor individuals. You 890 00:49:46,239 --> 00:49:49,799 Speaker 1: can connect to many different relays. One individual relay can 891 00:49:49,840 --> 00:49:52,320 Speaker 1: sense for you, um, but the likelihood of all of 892 00:49:52,360 --> 00:49:54,719 Speaker 1: them censoring you is extremely low. You could spin up 893 00:49:54,760 --> 00:49:58,319 Speaker 1: your own and syndicate via your own relay. Um. I 894 00:49:58,320 --> 00:50:01,920 Speaker 1: think that's the solution to the free speech problem today. 895 00:50:03,160 --> 00:50:06,200 Speaker 1: Like I do agree, I think people are speaking more 896 00:50:06,239 --> 00:50:09,680 Speaker 1: freely on Twitter right now. But again I don't. I'm 897 00:50:09,680 --> 00:50:14,120 Speaker 1: not sure what Elon's motives are, but I do think 898 00:50:14,800 --> 00:50:18,319 Speaker 1: they're just like the nagging. I thought my head that 899 00:50:18,360 --> 00:50:20,120 Speaker 1: he could be a false prophet where he was like, oh, 900 00:50:20,160 --> 00:50:22,279 Speaker 1: you're gonna save us and save free speech, and then 901 00:50:22,400 --> 00:50:25,960 Speaker 1: it's just going to turn into dystopian be But like, 902 00:50:26,600 --> 00:50:28,560 Speaker 1: I agree with you somewhat on that, but I think 903 00:50:28,719 --> 00:50:32,799 Speaker 1: for me it's more like, um, we should never race 904 00:50:32,920 --> 00:50:35,640 Speaker 1: somebody up like that and think they're the savior. Um. 905 00:50:35,680 --> 00:50:37,920 Speaker 1: I think there's good things that he's doing, and there's 906 00:50:37,960 --> 00:50:40,160 Speaker 1: probably bad things that he's doing as well. There's certainly 907 00:50:40,160 --> 00:50:41,880 Speaker 1: things I don't agree with, but then I do like 908 00:50:41,960 --> 00:50:43,120 Speaker 1: some of the things that he is doing right, and 909 00:50:43,160 --> 00:50:45,919 Speaker 1: so like it's okay to like I like this good job, 910 00:50:46,080 --> 00:50:48,520 Speaker 1: this is bad right, And so I think that's kind 911 00:50:48,520 --> 00:50:50,560 Speaker 1: of how I see Ellen, Like, um, he wants to 912 00:50:50,560 --> 00:50:53,399 Speaker 1: stick microchips in my brain, Like I'm not down with that. No, No, 913 00:50:53,480 --> 00:50:55,640 Speaker 1: it's like this is the push and poll I have 914 00:50:55,760 --> 00:50:59,359 Speaker 1: with Tesla and SpaceX. Particularly like Tesla, I think it's 915 00:50:59,400 --> 00:51:01,759 Speaker 1: like a green ergy grift. I think a transition to 916 00:51:02,640 --> 00:51:06,600 Speaker 1: a fleet of electric vehicles on global scales a terrible idea. 917 00:51:06,880 --> 00:51:09,440 Speaker 1: Then you look at SpaceX and he's sending rockets up 918 00:51:09,480 --> 00:51:12,279 Speaker 1: the space and the landing them back on these very 919 00:51:12,280 --> 00:51:16,080 Speaker 1: small platforms. You're like, yeah, this is obviously extremely cool 920 00:51:16,200 --> 00:51:19,320 Speaker 1: and definitely an advancement on this rocket tech that's probably 921 00:51:19,320 --> 00:51:23,319 Speaker 1: gonna be necessary. Yeah. Um, so yeah, Ellen confuses me. 922 00:51:23,640 --> 00:51:25,560 Speaker 1: So we don't need but we don't need deatist. And 923 00:51:25,560 --> 00:51:27,640 Speaker 1: I think the same way with politics, like I don't 924 00:51:27,719 --> 00:51:30,520 Speaker 1: know what I am politically, I can't align a percent 925 00:51:30,560 --> 00:51:33,000 Speaker 1: with anything like I pick and choose different things. Right, 926 00:51:33,400 --> 00:51:36,480 Speaker 1: generally I side with more freedom, right and less government. 927 00:51:37,040 --> 00:51:39,799 Speaker 1: I was watching, uh, I was watching Rohnd Santis and 928 00:51:39,840 --> 00:51:41,320 Speaker 1: he came out with this whole speech and he was 929 00:51:41,360 --> 00:51:45,319 Speaker 1: talking about UM, the WEF and how we need to 930 00:51:45,320 --> 00:51:46,880 Speaker 1: crack down on the WEFT. He's trying to do some 931 00:51:46,920 --> 00:51:50,080 Speaker 1: stuff in the state and the CCP, the Communist Chinese Party, 932 00:51:50,160 --> 00:51:52,400 Speaker 1: and we want to ban um the CCP fron be 933 00:51:52,400 --> 00:51:55,640 Speaker 1: able to buy land in Florida, which sounds great. I'm 934 00:51:55,760 --> 00:51:58,040 Speaker 1: I'm for that. We shouldn't allow the comments to by land, 935 00:51:58,120 --> 00:52:01,200 Speaker 1: right except for wait a minute, that means that he's 936 00:52:01,200 --> 00:52:04,440 Speaker 1: going to restrict what I can do with my private property. Yeah, 937 00:52:04,480 --> 00:52:07,160 Speaker 1: I don't know if weird can undrum right, and so like, 938 00:52:07,680 --> 00:52:09,759 Speaker 1: you have to really think through these issues, especially if 939 00:52:09,760 --> 00:52:12,640 Speaker 1: we're trying to be a men of integrity and um. 940 00:52:12,760 --> 00:52:14,839 Speaker 1: So anyway back to kind of like the Santist there's 941 00:52:14,880 --> 00:52:16,480 Speaker 1: lots of things he's doing that I like some things. 942 00:52:16,520 --> 00:52:19,480 Speaker 1: I think that he is a dictator too. Yeah, and uh, 943 00:52:19,520 --> 00:52:22,759 Speaker 1: same with Elon and Trump and everybody else for that matter, right, Yeah, No, 944 00:52:22,800 --> 00:52:25,520 Speaker 1: and I can see like going back to like Chinese 945 00:52:25,520 --> 00:52:30,120 Speaker 1: buying land or property. UM told me a few years ago, 946 00:52:31,400 --> 00:52:33,080 Speaker 1: like you shouldn't do that, but like, yeah, and there's 947 00:52:33,120 --> 00:52:34,800 Speaker 1: no way we should do that. I know Kyle Bass 948 00:52:34,960 --> 00:52:36,759 Speaker 1: is beating this drum as well. But then like in 949 00:52:36,800 --> 00:52:42,600 Speaker 1: the bitcoin mining industry, after the Chinese exodus, a lot 950 00:52:42,640 --> 00:52:44,440 Speaker 1: of the Chinese miners have come over to the US 951 00:52:44,440 --> 00:52:46,440 Speaker 1: because they want to continue bitcoin mining and the bitcoin 952 00:52:46,480 --> 00:52:49,800 Speaker 1: mining for a reason, because they believe in the ideals 953 00:52:49,840 --> 00:52:53,400 Speaker 1: that bitcoin was founded on on censorship resistant private property rights, 954 00:52:54,040 --> 00:52:57,040 Speaker 1: uh and freedom to transact how you want to. And 955 00:52:57,080 --> 00:53:00,319 Speaker 1: so I've been interacting professionally with a lot of these 956 00:53:00,400 --> 00:53:07,240 Speaker 1: Chinese miners, and we separate the CCP from individual Chinese 957 00:53:07,239 --> 00:53:11,160 Speaker 1: men and women, and um it's it's hard to get's 958 00:53:11,239 --> 00:53:14,600 Speaker 1: mucky right, Yeah. Yeah, these are not easy issues, which 959 00:53:14,640 --> 00:53:16,799 Speaker 1: is why they should be dealt with, I think more 960 00:53:16,880 --> 00:53:22,160 Speaker 1: on an individual basis and not centrally planned you know decisions. 961 00:53:22,160 --> 00:53:24,880 Speaker 1: So taking that and that actually kind of took us 962 00:53:24,880 --> 00:53:28,880 Speaker 1: to where I wanted to go because um, it seems like, um, 963 00:53:28,920 --> 00:53:31,560 Speaker 1: it seems like businesses are the ones that really create 964 00:53:31,600 --> 00:53:33,640 Speaker 1: the change, and that's why they want to have this 965 00:53:33,640 --> 00:53:37,000 Speaker 1: public private PARTSIP. They realize that government politics alone isn't enough. 966 00:53:37,040 --> 00:53:40,680 Speaker 1: We need to get the businesses, the banks, the social media, 967 00:53:41,160 --> 00:53:45,760 Speaker 1: the corporations, cocols that we need them to get involved. Right. Um, 968 00:53:45,800 --> 00:53:47,640 Speaker 1: so a couple of things I think in there so one. 969 00:53:48,000 --> 00:53:52,480 Speaker 1: Um with Twitter going to free speech. Um, it seems 970 00:53:52,520 --> 00:53:54,080 Speaker 1: like to me it's changing things. Like I'm starting to 971 00:53:54,080 --> 00:53:56,560 Speaker 1: see a lot of information spefically on the pandemic and 972 00:53:57,000 --> 00:53:59,359 Speaker 1: trials from Visor and stuff I don't want to say 973 00:53:59,360 --> 00:54:01,640 Speaker 1: because I'm on youtub you here, you can't say the 974 00:54:01,640 --> 00:54:04,399 Speaker 1: stuff on you. It's susan. You gotta end it, right 975 00:54:04,640 --> 00:54:06,880 Speaker 1: and so. But but my point is, so this has 976 00:54:06,920 --> 00:54:11,080 Speaker 1: really opening up on Twitter and Facebook's tanking. Do you 977 00:54:11,120 --> 00:54:15,560 Speaker 1: think Facebook, oh shoot, we better change our policy or 978 00:54:15,600 --> 00:54:17,680 Speaker 1: we're dead in the water. You know, we have to compete. 979 00:54:17,719 --> 00:54:19,520 Speaker 1: We have to compete. But the consumer ones because at 980 00:54:19,560 --> 00:54:21,600 Speaker 1: the end of the consumer does drive someones. And that's 981 00:54:21,600 --> 00:54:23,680 Speaker 1: what I asked you, the question, if they don't have 982 00:54:23,760 --> 00:54:26,160 Speaker 1: the power, who has the power? We have the power? Really, 983 00:54:26,160 --> 00:54:28,080 Speaker 1: the consumer has the power, right at the end of 984 00:54:28,080 --> 00:54:31,719 Speaker 1: the day, the consumer, they want our money, and so 985 00:54:31,760 --> 00:54:33,400 Speaker 1: who's gonna give If we're gonna give more time? And 986 00:54:33,440 --> 00:54:37,040 Speaker 1: attention and they have to serve us. And so Twitter 987 00:54:37,280 --> 00:54:40,440 Speaker 1: broke that seal and hey, look we want freedom or 988 00:54:40,680 --> 00:54:43,480 Speaker 1: freedom of speech or whatever, and now Facebook and YouTube 989 00:54:43,520 --> 00:54:46,560 Speaker 1: are going to have to deal with that. Yeah, especially YouTube, 990 00:54:47,560 --> 00:54:50,240 Speaker 1: I said Susan. I was talking to YouTube ceo CEO. 991 00:54:50,440 --> 00:54:54,520 Speaker 1: Susan was sicky, like I just got I gotta strike on. 992 00:54:54,760 --> 00:54:57,880 Speaker 1: I can't monetize YouTube right now because I had somebody 993 00:54:57,880 --> 00:55:00,320 Speaker 1: on talking about what you're not supposed to talk about, 994 00:55:00,320 --> 00:55:03,719 Speaker 1: which is I've had to not post interviews I've done 995 00:55:03,719 --> 00:55:05,440 Speaker 1: on YouTube and just put them on Rumble and I 996 00:55:05,520 --> 00:55:07,000 Speaker 1: saying I've been doing that in the last couple of 997 00:55:07,040 --> 00:55:10,399 Speaker 1: months because of the strike. But it's it's insane because 998 00:55:10,400 --> 00:55:14,160 Speaker 1: all we were literally just talking about facts that are 999 00:55:14,320 --> 00:55:18,600 Speaker 1: public now and then got back to trust this. Don't 1000 00:55:18,600 --> 00:55:20,960 Speaker 1: don't take my channel down. I'm not like talking about 1001 00:55:20,960 --> 00:55:23,880 Speaker 1: trust the science. You can talk about particular pure reviewed studies, 1002 00:55:23,920 --> 00:55:25,799 Speaker 1: but you can't talk about others or you get kicked off. 1003 00:55:26,120 --> 00:55:28,520 Speaker 1: I mean, I know I know what not to say 1004 00:55:28,560 --> 00:55:30,279 Speaker 1: to to make sure this gets on YouTube, but yeah, 1005 00:55:30,280 --> 00:55:32,560 Speaker 1: at the end of the day, consumer drives it. You're 1006 00:55:32,560 --> 00:55:35,520 Speaker 1: going back to We're gonna win. That's I do. Even 1007 00:55:35,520 --> 00:55:40,160 Speaker 1: though things are seem dire, the populace here in the 1008 00:55:40,239 --> 00:55:43,440 Speaker 1: United States seems a bit complacent, seems a bit degenerate. 1009 00:55:43,880 --> 00:55:45,239 Speaker 1: I do think at the end of the day, good 1010 00:55:45,280 --> 00:55:50,640 Speaker 1: beats evil, and somewhere down and many most people's stomachs, 1011 00:55:50,680 --> 00:55:55,680 Speaker 1: there is this this craving for freedom, for truth, for 1012 00:55:56,040 --> 00:55:58,120 Speaker 1: a reality in which people are good to each other. 1013 00:55:58,560 --> 00:56:00,600 Speaker 1: And I do think that's beginning to its head. And 1014 00:56:00,640 --> 00:56:04,080 Speaker 1: maybe give you lots of props. That is one thing 1015 00:56:04,120 --> 00:56:06,920 Speaker 1: we needed to begin changing the tides at the corporate 1016 00:56:07,000 --> 00:56:09,800 Speaker 1: level is somebody with the balls to stand up and say, hey, no, 1017 00:56:09,960 --> 00:56:12,239 Speaker 1: we're gonna We're gonna bring ed doubt on, We're gonna 1018 00:56:12,239 --> 00:56:15,680 Speaker 1: bring Trump back on. We're gonna bring all these conservatives 1019 00:56:15,719 --> 00:56:18,920 Speaker 1: who are banned um yeah over the last few years 1020 00:56:19,000 --> 00:56:23,080 Speaker 1: and let them have open debate on my platform. And 1021 00:56:23,120 --> 00:56:27,000 Speaker 1: then that's how the truth is found. Debate. Consumers flocked there, 1022 00:56:27,040 --> 00:56:28,920 Speaker 1: and then, like you said, facebooks, they're out. Damn, we're 1023 00:56:28,960 --> 00:56:31,280 Speaker 1: losing people. And if they start adding for more features 1024 00:56:31,320 --> 00:56:36,040 Speaker 1: to take more share from Facebook, Facebook's gonna have to respond, right. Um. 1025 00:56:36,120 --> 00:56:38,040 Speaker 1: One thing, you're gonna see me really starting to pound 1026 00:56:38,080 --> 00:56:39,840 Speaker 1: the table a lot this year On is that this 1027 00:56:39,960 --> 00:56:41,680 Speaker 1: is kind of where I'm really starting to push um 1028 00:56:42,120 --> 00:56:46,360 Speaker 1: is back to this uh, this um um sovereign thesis 1029 00:56:46,440 --> 00:56:48,719 Speaker 1: kind of world or a parallel market world, because this 1030 00:56:48,840 --> 00:56:50,480 Speaker 1: is where I just really see the most power we 1031 00:56:50,560 --> 00:56:53,479 Speaker 1: have is to affect change through the economy through economic means. 1032 00:56:53,920 --> 00:56:58,440 Speaker 1: You had was a vivik On from a Strive asset management, right, 1033 00:56:59,040 --> 00:57:02,799 Speaker 1: and he created it. He created a parallel to Black Rock. 1034 00:57:03,640 --> 00:57:05,759 Speaker 1: But instead of trying to say we beat them on 1035 00:57:06,200 --> 00:57:09,719 Speaker 1: returns or we have better performance or better customer, no, no, no, 1036 00:57:09,800 --> 00:57:11,400 Speaker 1: he just had to we serve a different customer with 1037 00:57:11,480 --> 00:57:15,840 Speaker 1: different values, right um. And there's examples of this popping 1038 00:57:15,920 --> 00:57:19,520 Speaker 1: up all over and I think, Um, we the consumer 1039 00:57:19,640 --> 00:57:22,520 Speaker 1: has the power because we have the money. And if 1040 00:57:22,560 --> 00:57:26,560 Speaker 1: we start demanding businesses to provocater to us or we 1041 00:57:26,600 --> 00:57:29,080 Speaker 1: don't give them our money, then they'll they'll cave. And 1042 00:57:29,160 --> 00:57:31,800 Speaker 1: I think there's an even bigger opportunity for entrepreneurs to 1043 00:57:31,920 --> 00:57:34,000 Speaker 1: go create all these like Texas Slims done with the 1044 00:57:34,040 --> 00:57:36,360 Speaker 1: beef initiative. But I don't know if you've seen bench 1045 00:57:36,400 --> 00:57:39,240 Speaker 1: Fare and Daily Wire. He created Jeremy's Razors again. And 1046 00:57:39,280 --> 00:57:40,960 Speaker 1: then the examples are trying to pop up and there's 1047 00:57:40,960 --> 00:57:44,200 Speaker 1: a massive opportunity for entrepreneurs and then we as consumers 1048 00:57:44,240 --> 00:57:47,000 Speaker 1: get behind it and like we win. And then of 1049 00:57:47,080 --> 00:57:49,880 Speaker 1: course the banking system won't like that, they'll shut us down, 1050 00:57:49,880 --> 00:57:52,640 Speaker 1: and we have bitcoin and that will underpin that will 1051 00:57:52,760 --> 00:57:55,200 Speaker 1: That would be what makes it all possible. Yeah, and 1052 00:57:55,440 --> 00:57:58,160 Speaker 1: I actually I'd like to think I'm trying to build 1053 00:57:58,960 --> 00:58:03,360 Speaker 1: one of these products, which is in terms of content creation. 1054 00:58:03,880 --> 00:58:07,919 Speaker 1: So for our site, t FTC dot io, we spun 1055 00:58:08,040 --> 00:58:12,800 Speaker 1: that up in April of twenty nine, that's been around 1056 00:58:12,920 --> 00:58:16,200 Speaker 1: for almost four years now, um, and we spun it 1057 00:58:16,280 --> 00:58:20,320 Speaker 1: up using Ghosts because ghost is open source and it's 1058 00:58:20,360 --> 00:58:22,960 Speaker 1: easy to build on. And when I launched the site, 1059 00:58:23,000 --> 00:58:27,200 Speaker 1: just selfishly, I wanted to incorporate bitcoin payments using an 1060 00:58:27,240 --> 00:58:31,600 Speaker 1: open source payment processor called PTC pay Server into Ghosts. 1061 00:58:31,640 --> 00:58:33,920 Speaker 1: And so over the last four years we've sort of 1062 00:58:33,960 --> 00:58:37,320 Speaker 1: been building that product out for ourselves and I've actually 1063 00:58:37,360 --> 00:58:40,040 Speaker 1: come to conclusion hole crap, Like we could package this 1064 00:58:40,200 --> 00:58:43,360 Speaker 1: up and give it to people so that they can 1065 00:58:44,040 --> 00:58:48,240 Speaker 1: do exactly what sub stacks doing, but uh, in a 1066 00:58:48,320 --> 00:58:52,600 Speaker 1: self sovereign fashion, particularly with bitcoin payments, that you cast 1067 00:58:52,680 --> 00:58:56,800 Speaker 1: yourself because substecs and incredible platform. I think there are 1068 00:58:56,800 --> 00:58:59,919 Speaker 1: another example of a company that decided not to sense 1069 00:59:00,080 --> 00:59:04,000 Speaker 1: or people and they've seen an extreme amount of user 1070 00:59:04,040 --> 00:59:07,360 Speaker 1: flow because of that, people craving truth to go into Substack. 1071 00:59:07,400 --> 00:59:09,960 Speaker 1: Because Substack has drawn the hardline we're not going to 1072 00:59:10,040 --> 00:59:14,800 Speaker 1: censor these hard conversations. But uh, the censorship that happens 1073 00:59:14,800 --> 00:59:17,840 Speaker 1: on substack is via Stripe the payment process. That's what 1074 00:59:18,080 --> 00:59:21,880 Speaker 1: some content creators, even though they're able to write on Substack, 1075 00:59:21,960 --> 00:59:24,480 Speaker 1: that can't monetize on substack because Stripe is stepped in 1076 00:59:24,520 --> 00:59:26,680 Speaker 1: and say, hey, we're not gonna allow to use our 1077 00:59:26,800 --> 00:59:30,200 Speaker 1: rails to receive money. Um. And so if that trend 1078 00:59:30,280 --> 00:59:33,760 Speaker 1: continues in the government doesn't like the substack, this free 1079 00:59:34,760 --> 00:59:37,280 Speaker 1: it's having this free, open discussion, and they go to 1080 00:59:37,320 --> 00:59:40,320 Speaker 1: Stripe and say, all right, demonetize all these people. That's gonna, 1081 00:59:41,040 --> 00:59:44,560 Speaker 1: uh just gonna ruin substack for those writers. And so 1082 00:59:45,680 --> 00:59:47,920 Speaker 1: this is just one small thing that we're trying to 1083 00:59:47,960 --> 00:59:50,040 Speaker 1: build a t FTC. We're trying to package up. What 1084 00:59:50,160 --> 00:59:52,680 Speaker 1: we've built goes to PDC pay server. We're gonna open 1085 00:59:52,720 --> 00:59:57,080 Speaker 1: sources for everybody, but we'll also have uh like a 1086 00:59:57,240 --> 00:59:59,920 Speaker 1: centralized platform that if you don't want to do a 1087 01:00:00,000 --> 01:00:02,400 Speaker 1: rethink yourself. We'll help you do it just plugging some 1088 01:00:02,600 --> 01:00:05,400 Speaker 1: API keys and tokens and stuff like that, and you'll 1089 01:00:05,400 --> 01:00:08,840 Speaker 1: be able to inject the bitcoin payment processor code into 1090 01:00:08,880 --> 01:00:12,520 Speaker 1: your ghosts. And so yeah, and that was that. I 1091 01:00:12,600 --> 01:00:14,960 Speaker 1: built that for myself because, as you may know, with 1092 01:00:15,040 --> 01:00:18,520 Speaker 1: the newsletter UH and the podcast, I talked about some 1093 01:00:18,640 --> 01:00:22,360 Speaker 1: topics that the government and others don't like, and so 1094 01:00:22,920 --> 01:00:26,840 Speaker 1: I'm not big enough to get censored, but I've built 1095 01:00:26,880 --> 01:00:29,880 Speaker 1: this with the intention of getting big and potentially getting 1096 01:00:29,920 --> 01:00:31,400 Speaker 1: to the point where they're like, hey, we're gonna senser 1097 01:00:31,440 --> 01:00:32,760 Speaker 1: you and I just look at them be like that 1098 01:00:33,000 --> 01:00:36,160 Speaker 1: they can't come take my note. But by us it's 1099 01:00:36,160 --> 01:00:37,960 Speaker 1: been up those businesses and even just for question to 1100 01:00:38,000 --> 01:00:39,560 Speaker 1: get paid in bitcoin. Then more people use it and 1101 01:00:39,600 --> 01:00:41,960 Speaker 1: the adoption happens, that paindal gets turned up and it 1102 01:00:42,080 --> 01:00:45,000 Speaker 1: all starts going pretty quickly. Oh yeah, I think it's 1103 01:00:45,040 --> 01:00:47,840 Speaker 1: gonna be uh. And that's the other thing with bitcoin 1104 01:00:47,960 --> 01:00:51,240 Speaker 1: to like, in terms of adoption, that's definitely happening here 1105 01:00:52,080 --> 01:00:56,200 Speaker 1: in the West. Strike UH. Their implementation with NCR at 1106 01:00:56,240 --> 01:00:59,360 Speaker 1: self checkout should be coming to market soon. So if 1107 01:00:59,400 --> 01:01:01,920 Speaker 1: you want to go and pay at Whole Foods or 1108 01:01:01,960 --> 01:01:05,400 Speaker 1: somewhere if they download the NCR software, you'll be able 1109 01:01:05,440 --> 01:01:07,360 Speaker 1: to do that UM and you can pay from any 1110 01:01:07,360 --> 01:01:08,960 Speaker 1: while you don't need to pay from a strike wall it. 1111 01:01:09,120 --> 01:01:12,080 Speaker 1: So that allows you to sort of live and spend 1112 01:01:12,120 --> 01:01:15,440 Speaker 1: on a bitcoin standard UM. But even more importantly, I 1113 01:01:15,440 --> 01:01:18,960 Speaker 1: think what's happening like emerging markets like Africa in Latin America, 1114 01:01:19,040 --> 01:01:22,840 Speaker 1: where these people actually desperately need bitcoins utility UM as 1115 01:01:22,840 --> 01:01:27,760 Speaker 1: a payments vehicle and a wealth preservation vehicle. UM is 1116 01:01:28,600 --> 01:01:31,080 Speaker 1: really going to drive a lot of the adoption over 1117 01:01:31,120 --> 01:01:34,400 Speaker 1: the next year. So that's actually my one of the 1118 01:01:34,480 --> 01:01:38,360 Speaker 1: bullish cases for bitcoin. Three and so we have this 1119 01:01:38,440 --> 01:01:42,080 Speaker 1: black Swan adoption event and emerging markets where there's a 1120 01:01:42,120 --> 01:01:44,919 Speaker 1: lot of activity going on right now UM. And even 1121 01:01:45,000 --> 01:01:48,640 Speaker 1: if the government here in the US or other Western 1122 01:01:48,720 --> 01:01:50,760 Speaker 1: governments and so we don't like bitcoin, we're gonna stop it. 1123 01:01:50,840 --> 01:01:55,160 Speaker 1: I think what's happening UH in developing markets is h 1124 01:01:55,560 --> 01:01:57,520 Speaker 1: is something that many people are paying attention to. It 1125 01:01:57,560 --> 01:02:00,400 Speaker 1: could sneak up on. I think that's the big growth theory. 1126 01:02:00,480 --> 01:02:02,880 Speaker 1: Like if you look at the Internet, the US Internet 1127 01:02:02,920 --> 01:02:05,440 Speaker 1: group fast because we had wired phone lines, but in 1128 01:02:05,840 --> 01:02:08,040 Speaker 1: UH in emerging markets. It's skipped that and went straight 1129 01:02:08,040 --> 01:02:11,080 Speaker 1: to wireless right and so here we have these existing 1130 01:02:11,200 --> 01:02:13,280 Speaker 1: us D payment rails over there they don't so it 1131 01:02:13,360 --> 01:02:15,600 Speaker 1: just skips it just goes right to a new rails 1132 01:02:15,800 --> 01:02:18,000 Speaker 1: mobile first, it's all mobile first, goes right to bt 1133 01:02:18,080 --> 01:02:20,800 Speaker 1: TH rails. U cool man. Well, we covered a lot. 1134 01:02:20,840 --> 01:02:23,000 Speaker 1: I think we'll wrap it up with that. Um, t 1135 01:02:23,200 --> 01:02:27,680 Speaker 1: FTC dot io check that out for sure? What else? Uh, 1136 01:02:28,120 --> 01:02:33,360 Speaker 1: I've already been on Twitter. Um yeah that's uh start 1137 01:02:33,400 --> 01:02:37,880 Speaker 1: of business except BTC check out the payment gateway with 1138 01:02:38,000 --> 01:02:40,120 Speaker 1: ghost Well when it comes out, yeah, well follow Marty 1139 01:02:40,200 --> 01:02:42,920 Speaker 1: for for updates on that. Yeah, we'll be open sourcing 1140 01:02:42,960 --> 01:02:45,720 Speaker 1: it soon. So um, we're just making sure it's stable 1141 01:02:46,120 --> 01:02:49,120 Speaker 1: so you can follow all that stuff. Podcast is t 1142 01:02:49,240 --> 01:02:52,280 Speaker 1: FTC rabbit Hole Recap. It's the other show I do. Um, 1143 01:02:52,640 --> 01:02:56,280 Speaker 1: but Mark, thank you. This is I think that's the 1144 01:02:56,320 --> 01:02:59,080 Speaker 1: first time the tables I've been turned in the studio. Nice. 1145 01:02:59,240 --> 01:03:01,200 Speaker 1: I'm glad it was me. This is a comfortable seat too. 1146 01:03:02,440 --> 01:03:02,640 Speaker 1: Thanks