1 00:00:00,320 --> 00:00:03,360 Speaker 1: Hey, everyone, welcome to another episode of The Mark Moss 2 00:00:03,400 --> 00:00:07,000 Speaker 1: Show where we're talking about bitcoin. Of course, each and 3 00:00:07,000 --> 00:00:09,360 Speaker 1: every week we're talking about cryptocurrencies, we're talking about the 4 00:00:09,440 --> 00:00:13,960 Speaker 1: decentralized revolution, and I'm really just trying to bring context 5 00:00:14,000 --> 00:00:17,560 Speaker 1: to you of what is going on in this giant movement. 6 00:00:17,560 --> 00:00:21,360 Speaker 1: When I say giant, I am talking about a shift 7 00:00:21,480 --> 00:00:25,040 Speaker 1: so big that it will literally change the course of humanity. 8 00:00:25,040 --> 00:00:27,680 Speaker 1: It's that big, and it's you know, to understand bitcoin, 9 00:00:27,720 --> 00:00:30,680 Speaker 1: to understand this decentralized revolution, you have to understand lots 10 00:00:30,720 --> 00:00:33,480 Speaker 1: of different things. There's probably at least six or eight 11 00:00:33,520 --> 00:00:36,040 Speaker 1: different disciplines that you have to understand, which is why 12 00:00:36,320 --> 00:00:39,559 Speaker 1: most people have a hard time understanding what it is. 13 00:00:40,120 --> 00:00:42,400 Speaker 1: And you know, I've been asked many times. I've been 14 00:00:42,880 --> 00:00:45,680 Speaker 1: teaching about bitcoin for six seven years now at this point, 15 00:00:46,240 --> 00:00:48,800 Speaker 1: pretty much talk about it all the time. I'm pretty 16 00:00:48,840 --> 00:00:52,280 Speaker 1: good at taking complex subjects and making them easy to understand, 17 00:00:52,320 --> 00:00:54,000 Speaker 1: which is what I'm doing with you each and every week. 18 00:00:54,040 --> 00:00:56,120 Speaker 1: And sometimes some of my friends will sit me down 19 00:00:56,160 --> 00:00:59,200 Speaker 1: and they're like, hey, Mark, um, could you just explain 20 00:00:59,240 --> 00:01:01,200 Speaker 1: bitcoin to me? Like I'm five years old and in 21 00:01:01,240 --> 00:01:06,600 Speaker 1: two minutes and I'm just like, no, I can't. Uh, 22 00:01:07,200 --> 00:01:10,080 Speaker 1: because a five year old can't get it in two minutes. 23 00:01:10,080 --> 00:01:12,040 Speaker 1: Nobody can get in two minutes. And that's one of 24 00:01:12,080 --> 00:01:14,200 Speaker 1: the big problems that we have in culture today is 25 00:01:14,240 --> 00:01:16,320 Speaker 1: that we're all trying to find these life hacks, which 26 00:01:16,360 --> 00:01:18,120 Speaker 1: is fine, we should all be finding life acts and 27 00:01:18,840 --> 00:01:20,480 Speaker 1: a life hack is listening to me each week. But 28 00:01:20,520 --> 00:01:22,560 Speaker 1: if you're only going to put in five minutes or 29 00:01:22,600 --> 00:01:25,880 Speaker 1: two minutes worth of work, you're never going to get this. 30 00:01:26,400 --> 00:01:28,080 Speaker 1: And really you're just never gonna make it in life. 31 00:01:28,400 --> 00:01:30,160 Speaker 1: And it's a big problem that we have in the 32 00:01:30,160 --> 00:01:33,319 Speaker 1: world where we see people they read the headlines and 33 00:01:33,360 --> 00:01:35,920 Speaker 1: they don't even bother to read the rest of the article. 34 00:01:36,319 --> 00:01:38,759 Speaker 1: And usually those headlines are kind of this clickbait type 35 00:01:38,760 --> 00:01:40,600 Speaker 1: of thing and it doesn't even really represent what that 36 00:01:40,720 --> 00:01:43,319 Speaker 1: article is about. But yet people think they have the information. 37 00:01:43,720 --> 00:01:45,600 Speaker 1: And so with bitcoin, a lot of times people are like, oh, 38 00:01:45,640 --> 00:01:46,800 Speaker 1: I get it, I get it. I get It's like 39 00:01:46,800 --> 00:01:48,760 Speaker 1: this digital cash. It's like it's like this digital gold. 40 00:01:48,920 --> 00:01:52,120 Speaker 1: I get it. Right, No, you don't get it. You 41 00:01:52,160 --> 00:01:55,040 Speaker 1: can't get it in two minutes, especially if you're five 42 00:01:55,120 --> 00:01:57,280 Speaker 1: years old. And so we'll talk about this each and 43 00:01:57,320 --> 00:02:01,160 Speaker 1: every week, and all these different ways that affect your life. 44 00:02:01,720 --> 00:02:04,720 Speaker 1: And really we'll talk about the intersection of or the 45 00:02:04,760 --> 00:02:09,480 Speaker 1: importance of why, why is this even important? Why do 46 00:02:09,560 --> 00:02:13,200 Speaker 1: I even care about this? Why will this be so powerful? 47 00:02:13,240 --> 00:02:15,960 Speaker 1: Will change the world? And so you have to understand 48 00:02:15,960 --> 00:02:19,480 Speaker 1: a lot of different subjects. And luckily for you, me, 49 00:02:19,760 --> 00:02:23,440 Speaker 1: your host, I've sort of been this jack of all trades, 50 00:02:23,520 --> 00:02:27,320 Speaker 1: master of none most of my life. So I'm sort 51 00:02:27,360 --> 00:02:29,800 Speaker 1: of like uniquely situated to talk to you about these 52 00:02:29,800 --> 00:02:33,079 Speaker 1: subjects because I like to dabble in all these different 53 00:02:33,080 --> 00:02:37,000 Speaker 1: different areas. I'm talking about history, monetary history, which you 54 00:02:37,040 --> 00:02:39,320 Speaker 1: hear me talk about a lot. I'd like to talk 55 00:02:39,360 --> 00:02:42,560 Speaker 1: about economics. I'd like to talk about finance. I like 56 00:02:42,560 --> 00:02:45,480 Speaker 1: to talk about technology. I'd like to talk about psychology. 57 00:02:45,520 --> 00:02:48,119 Speaker 1: I would talk about game theory, I like to talk 58 00:02:48,160 --> 00:02:53,720 Speaker 1: about philosophy, and all of these subjects intersect at bitcoin, 59 00:02:54,320 --> 00:02:56,920 Speaker 1: and so really I like to talk focus on really 60 00:02:56,960 --> 00:03:03,480 Speaker 1: the intersection of finance, technology, and money. It's a pretty 61 00:03:03,480 --> 00:03:07,079 Speaker 1: powerful combination of those three and they all intersect directly 62 00:03:07,280 --> 00:03:10,360 Speaker 1: at bitcoin. And so a lot of times, like I said, 63 00:03:10,600 --> 00:03:12,480 Speaker 1: a lot of people, especially in the United States, when 64 00:03:12,480 --> 00:03:14,280 Speaker 1: I've traveled in other countries they get this a little 65 00:03:14,280 --> 00:03:17,519 Speaker 1: bit better, but in the United States they go, why 66 00:03:17,560 --> 00:03:19,760 Speaker 1: why do we even need bitcoin? What problem does it 67 00:03:19,840 --> 00:03:22,960 Speaker 1: even solve? And you'll hear people talking about the energy problem, 68 00:03:23,000 --> 00:03:28,239 Speaker 1: like bitcoin waste energy? Well, how does it waste energy? 69 00:03:28,760 --> 00:03:30,320 Speaker 1: I'd like to hear your argument that what what do 70 00:03:30,360 --> 00:03:32,360 Speaker 1: you mean it waste energy? Because the way that I 71 00:03:32,480 --> 00:03:36,120 Speaker 1: understand it is that one man's trash is another man's treasure. 72 00:03:37,240 --> 00:03:40,120 Speaker 1: So how is it a waste? If I decided to 73 00:03:40,160 --> 00:03:43,720 Speaker 1: put my attention, my energy, my effort into it, how 74 00:03:43,720 --> 00:03:46,160 Speaker 1: who are you to call what I do a waste? 75 00:03:46,360 --> 00:03:48,600 Speaker 1: But typically what I would say is that that argument 76 00:03:48,640 --> 00:03:51,520 Speaker 1: comes from a standpoint that it's a waste of time. 77 00:03:52,000 --> 00:03:54,040 Speaker 1: There's no purpose of it, there's no need for it, 78 00:03:54,120 --> 00:03:58,200 Speaker 1: so why would we devote any energy towards that? I mean, 79 00:03:58,240 --> 00:04:01,200 Speaker 1: the same could be said about video games. Our energy 80 00:04:01,400 --> 00:04:04,480 Speaker 1: or our video games a waste of energy? Are YouTube 81 00:04:04,720 --> 00:04:09,040 Speaker 1: videos a waste of energy? Is you listening to me 82 00:04:09,120 --> 00:04:12,120 Speaker 1: talking to on my podcast right now? A waste of energy? 83 00:04:12,440 --> 00:04:14,880 Speaker 1: Hopefully you don't answer yes to that question, um, but 84 00:04:15,040 --> 00:04:17,280 Speaker 1: you know what is this waste? And so typically I 85 00:04:17,279 --> 00:04:19,480 Speaker 1: would just say it's like people go well, there's there's 86 00:04:19,480 --> 00:04:23,080 Speaker 1: no point to bitcoin, there's no need for it. Um, 87 00:04:23,080 --> 00:04:27,480 Speaker 1: it's just a stupid speculation or whatever. So why should 88 00:04:27,520 --> 00:04:31,880 Speaker 1: we devote any energy to that? And first off, like 89 00:04:31,920 --> 00:04:34,200 Speaker 1: I said, who are you to say what I devote 90 00:04:34,240 --> 00:04:37,239 Speaker 1: my energy to. If I decided to devote my energy 91 00:04:37,320 --> 00:04:40,440 Speaker 1: to meditation and staring into space, then that's what I 92 00:04:40,440 --> 00:04:42,039 Speaker 1: wanted to dedicate my time. If I want to dedicate 93 00:04:42,040 --> 00:04:43,560 Speaker 1: my time to play in video games, and so be 94 00:04:43,560 --> 00:04:45,560 Speaker 1: it Like, who are you or who is anybody to 95 00:04:45,600 --> 00:04:48,680 Speaker 1: dictate what anybody else thinks is a good or bad 96 00:04:48,800 --> 00:04:52,200 Speaker 1: use of their time or energy. But really, ultimately, like 97 00:04:52,200 --> 00:04:53,440 Speaker 1: I said, it comes down to the fact that they 98 00:04:53,480 --> 00:04:57,240 Speaker 1: don't understand why why is this important? So what I 99 00:04:57,279 --> 00:05:01,320 Speaker 1: would say is that bitcoin is the most important thing. 100 00:05:01,360 --> 00:05:04,480 Speaker 1: As a matter of fact, it not only deserves all 101 00:05:04,520 --> 00:05:06,839 Speaker 1: the energy that we put into it, it needs even 102 00:05:06,960 --> 00:05:10,680 Speaker 1: way more. That's what I would say. I would say, no, no, 103 00:05:10,839 --> 00:05:14,120 Speaker 1: we're not spending enough energy on bitcoin. But again, it 104 00:05:14,160 --> 00:05:17,520 Speaker 1: comes down to why, Why do I believe that's important? 105 00:05:17,839 --> 00:05:21,240 Speaker 1: Why do I believe it can change the world. That's 106 00:05:21,240 --> 00:05:22,440 Speaker 1: what I want to share with you. By the way, 107 00:05:22,440 --> 00:05:23,880 Speaker 1: you're listening to the Mark Mos show. Of course we're 108 00:05:23,880 --> 00:05:26,400 Speaker 1: talking about bitcoin. If you're just tuning in, we're talking 109 00:05:26,400 --> 00:05:30,159 Speaker 1: about cryptocurrencies. We're talking about this decentralized revolution, and we're 110 00:05:30,160 --> 00:05:35,000 Speaker 1: talking about why. Now, there's a million reasons why. And 111 00:05:35,640 --> 00:05:38,080 Speaker 1: I like to use an analogy. I would I'd like 112 00:05:38,160 --> 00:05:41,080 Speaker 1: to use an analogy of imagine. Imagine in your mind 113 00:05:41,480 --> 00:05:44,680 Speaker 1: this giant oak tree, and you have this old oak tree. 114 00:05:44,720 --> 00:05:47,880 Speaker 1: It's really big, and I don't know, ten thousand leaves 115 00:05:47,920 --> 00:05:50,880 Speaker 1: on this oak tree, and every one of those leaves 116 00:05:51,360 --> 00:05:55,599 Speaker 1: on that tree is a problem. So we have the 117 00:05:55,640 --> 00:05:59,280 Speaker 1: obesity rate, or or the divorce rate, or the incarceration rate, 118 00:05:59,360 --> 00:06:01,480 Speaker 1: or the divide but rich and poor, or the breakdown 119 00:06:01,520 --> 00:06:05,680 Speaker 1: and supply chains, or you name it. Any problem that 120 00:06:05,720 --> 00:06:08,840 Speaker 1: you could pull all basically comes down into the tree, 121 00:06:08,880 --> 00:06:11,200 Speaker 1: into the trunk, and at the base of that tree, 122 00:06:11,400 --> 00:06:16,920 Speaker 1: at the trunk, the root of that problem is the money. 123 00:06:17,120 --> 00:06:21,480 Speaker 1: The money is the problem responsible for every other problem 124 00:06:21,520 --> 00:06:23,240 Speaker 1: that we have in society. Now, I know, I get it, 125 00:06:23,279 --> 00:06:24,880 Speaker 1: I get it, I get it. Don't shoot the messenger. 126 00:06:24,960 --> 00:06:28,320 Speaker 1: That's a big claim, right, it's a really big claim. 127 00:06:28,360 --> 00:06:29,640 Speaker 1: But it's a claim that I can back up. And 128 00:06:29,640 --> 00:06:31,120 Speaker 1: it's a claim that I'm gonna back up each and 129 00:06:31,160 --> 00:06:34,119 Speaker 1: every show. So, by the way, well what we're talking 130 00:06:34,120 --> 00:06:37,400 Speaker 1: about this, uh, I promise to make this the most 131 00:06:37,440 --> 00:06:39,240 Speaker 1: important part of your week. So just grab your phone 132 00:06:39,240 --> 00:06:42,119 Speaker 1: real quick, put a calendar reminder for this date this time, 133 00:06:42,440 --> 00:06:44,560 Speaker 1: and make sure to join me on this station each 134 00:06:44,600 --> 00:06:48,040 Speaker 1: and every week. But it's a big claim. I get it. 135 00:06:48,360 --> 00:06:53,200 Speaker 1: Every problem obesity, divorce rate, like, incarceration rate, like, how 136 00:06:53,240 --> 00:06:56,159 Speaker 1: are those related to the money. That doesn't make any sense? 137 00:06:56,279 --> 00:06:59,760 Speaker 1: Mark right, I get it, But it does, and I'm 138 00:06:59,760 --> 00:07:02,839 Speaker 1: gonna prove it now. Um, I'm just gonna say topically, well, 139 00:07:02,839 --> 00:07:08,640 Speaker 1: what's the number one cause of divorce? Money? Fighting over money? Typically, 140 00:07:08,640 --> 00:07:12,000 Speaker 1: not having enough money is typically the problem. But why 141 00:07:12,040 --> 00:07:13,680 Speaker 1: don't we have enough money? Well, then that goes into 142 00:07:13,680 --> 00:07:16,080 Speaker 1: this income in equality thing. Why is it so hard 143 00:07:16,120 --> 00:07:18,320 Speaker 1: to get ahead today? Why are there rich getting richer 144 00:07:18,320 --> 00:07:21,600 Speaker 1: and the poorer staying poor? What is causing this divide 145 00:07:22,800 --> 00:07:25,360 Speaker 1: the money? And so really, if we can look back 146 00:07:25,560 --> 00:07:27,720 Speaker 1: at a chart, it really we can trace it back 147 00:07:27,760 --> 00:07:31,760 Speaker 1: to nineteen seventy one, at the time when the then 148 00:07:31,920 --> 00:07:35,960 Speaker 1: current president Richard Nixon removed not only the United States, 149 00:07:35,960 --> 00:07:40,200 Speaker 1: but really removed the entire world from the gold standard. 150 00:07:40,640 --> 00:07:44,480 Speaker 1: So for all of pretty much recorded history, five thousand years, 151 00:07:44,560 --> 00:07:48,000 Speaker 1: gold had been money. For hundreds of years. Inside the 152 00:07:48,080 --> 00:07:53,280 Speaker 1: United States, gold was money, and all the four Under 153 00:07:53,280 --> 00:07:56,360 Speaker 1: the Breton Woods Agreement, the entire world agreed to be 154 00:07:56,440 --> 00:07:59,440 Speaker 1: on a one world money monetary system that was a 155 00:07:59,560 --> 00:08:02,000 Speaker 1: gold back system. The dollar will be back to gold, 156 00:08:02,040 --> 00:08:04,280 Speaker 1: All the currencies of the world will be backed to 157 00:08:04,360 --> 00:08:06,560 Speaker 1: the dollar or pinned, i should say, peg to the dollar. 158 00:08:06,960 --> 00:08:11,920 Speaker 1: And so we're on a gold back system. President Richard 159 00:08:12,000 --> 00:08:17,400 Speaker 1: Nixon severed the ties of the gold standard and thereby 160 00:08:17,720 --> 00:08:21,000 Speaker 1: took the entire world off of what had been money 161 00:08:21,040 --> 00:08:24,240 Speaker 1: for five thousand years, and since that for the last 162 00:08:24,280 --> 00:08:26,360 Speaker 1: fifty years. It was August of this year. August of 163 00:08:26,360 --> 00:08:29,640 Speaker 1: this year was the fiftieth anniversary of that happening. And 164 00:08:29,720 --> 00:08:34,040 Speaker 1: since that time, the entire world has gone haywire, and 165 00:08:34,080 --> 00:08:35,959 Speaker 1: a lot of the problems that we see today are 166 00:08:36,000 --> 00:08:39,200 Speaker 1: a direct cause of this. Now, there's a massive, massive, 167 00:08:39,320 --> 00:08:43,040 Speaker 1: massive problem going on all across the world today and 168 00:08:43,080 --> 00:08:45,480 Speaker 1: it's directly related to this. And you probably don't get this. 169 00:08:45,520 --> 00:08:48,480 Speaker 1: You probably don't understand this now if you're in southern California, 170 00:08:48,880 --> 00:08:51,840 Speaker 1: where I'm from, I mean you're anywhere near the beach, 171 00:08:52,320 --> 00:08:54,880 Speaker 1: you've probably seen. And if you're not there, you've probably heard. 172 00:08:55,360 --> 00:08:59,440 Speaker 1: There's hundreds are about a hundred ships sitting off the 173 00:08:59,480 --> 00:09:01,959 Speaker 1: ports of Long Beach trying to come in, trying to 174 00:09:01,960 --> 00:09:06,280 Speaker 1: bring goods in. Why why is that happening? Well, would 175 00:09:06,320 --> 00:09:07,440 Speaker 1: you believe me if I told you it is because 176 00:09:07,440 --> 00:09:09,760 Speaker 1: of the money and bitcoin can fix that. Well, I'm 177 00:09:09,760 --> 00:09:12,080 Speaker 1: gonna tell you exactly what's happening. I'm gonna tell you 178 00:09:12,080 --> 00:09:14,160 Speaker 1: exactly why the money is responsible. I would tell you 179 00:09:14,160 --> 00:09:17,440 Speaker 1: exactly how bitcoin fixes this when we come back. All right, Now, 180 00:09:17,480 --> 00:09:19,200 Speaker 1: you're listening to the Mark Moa Show. We're talking about bitcoin, 181 00:09:19,240 --> 00:09:22,400 Speaker 1: we're talking about cryptocurrencies. Of course, we're talking about the 182 00:09:22,400 --> 00:09:27,160 Speaker 1: bigger decentralized revolution that's happening. I'm gonna be right back 183 00:09:27,200 --> 00:09:28,920 Speaker 1: on to tell you how the shipping problem can be 184 00:09:28,920 --> 00:09:31,360 Speaker 1: fixed by bitcoin. Don't go away, all right, Welcome back. 185 00:09:31,360 --> 00:09:33,679 Speaker 1: You're listening to the markma Show. We're talking about bitcoin, 186 00:09:33,720 --> 00:09:37,760 Speaker 1: we're talking about cryptocurrencies, we're talking about the decentralized revolution, 187 00:09:38,920 --> 00:09:42,199 Speaker 1: and boy, oh boy, where do I start. It's such 188 00:09:42,200 --> 00:09:43,719 Speaker 1: a big topic and that's why you gotta tune in 189 00:09:43,760 --> 00:09:45,920 Speaker 1: with me each and every week before the break, I 190 00:09:46,000 --> 00:09:48,960 Speaker 1: was explaining how, um, if the world was like this 191 00:09:48,960 --> 00:09:50,840 Speaker 1: giant oak tree, and every leave on that oak tree 192 00:09:50,840 --> 00:09:53,320 Speaker 1: was a problem, and you trace each one of those 193 00:09:53,400 --> 00:09:54,959 Speaker 1: leaves back to the tree, and the tree all but 194 00:09:55,040 --> 00:09:57,000 Speaker 1: down the route at the roots sits the money. The 195 00:09:57,040 --> 00:09:59,840 Speaker 1: money printer. The problem is the money, and the money 196 00:09:59,880 --> 00:10:01,960 Speaker 1: is causing every problem that we have today. And I 197 00:10:02,040 --> 00:10:04,800 Speaker 1: was explaining how one of the big problems that we 198 00:10:04,840 --> 00:10:07,760 Speaker 1: have today, there's there's many, but we'll just tackle one today, 199 00:10:08,000 --> 00:10:10,560 Speaker 1: and one of them is supply chains are breaking down. 200 00:10:10,880 --> 00:10:13,840 Speaker 1: I talked about how off the coast of Long Beach, 201 00:10:13,880 --> 00:10:16,920 Speaker 1: off the coast of southern California, there's about plus or 202 00:10:16,920 --> 00:10:20,640 Speaker 1: minus about a hundred ships sitting off the coast, and 203 00:10:20,679 --> 00:10:22,400 Speaker 1: they can't figure out how to get him in there 204 00:10:22,400 --> 00:10:25,599 Speaker 1: and get them unloaded. Right now, that's a big problem, 205 00:10:25,840 --> 00:10:28,840 Speaker 1: supply chains breaking down when those ships don't come in, 206 00:10:29,320 --> 00:10:32,840 Speaker 1: parts don't get delivered, items don't get made, vendors don't 207 00:10:32,840 --> 00:10:35,200 Speaker 1: get their parts, you don't get to buy the consumer 208 00:10:35,240 --> 00:10:39,400 Speaker 1: goods that you want. The entire economy breaks down over that. 209 00:10:40,200 --> 00:10:43,320 Speaker 1: But that's the problem with the money, Mark, Is that 210 00:10:43,320 --> 00:10:45,320 Speaker 1: what you're telling me, Mark that's exactly what I'm telling you. 211 00:10:45,360 --> 00:10:47,360 Speaker 1: And not only I telling you that it's the problem 212 00:10:47,360 --> 00:10:50,280 Speaker 1: with the money, I'm also telling you that bitcoin can 213 00:10:50,360 --> 00:10:53,400 Speaker 1: fix that. It's a big claim. So let me let 214 00:10:53,440 --> 00:10:55,880 Speaker 1: me explain what I'm talking about here. Now. First off, 215 00:10:56,600 --> 00:10:58,280 Speaker 1: I'm sure you've heard by now the supply chains are 216 00:10:58,280 --> 00:11:01,880 Speaker 1: breaking down everywhere, Right's chains are breaking down. Or you've 217 00:11:01,880 --> 00:11:03,840 Speaker 1: probably gone to buy goods and you've noticed that you 218 00:11:03,880 --> 00:11:05,200 Speaker 1: can't get some of the things that you want are 219 00:11:05,200 --> 00:11:08,080 Speaker 1: they're way more expensive, Like use cars are up thirty 220 00:11:09,040 --> 00:11:11,880 Speaker 1: because new cars can't be sold as much because we 221 00:11:11,920 --> 00:11:16,320 Speaker 1: don't have chips that go in them, right, supply chain issues. Now, 222 00:11:16,480 --> 00:11:20,439 Speaker 1: the supply chain is a it's a complex dynamic system 223 00:11:20,559 --> 00:11:23,600 Speaker 1: on a minsive scale. I mean it's it's a global scale. 224 00:11:24,160 --> 00:11:26,800 Speaker 1: It's uh, it's probably as complex as the as a 225 00:11:26,840 --> 00:11:31,160 Speaker 1: climate chain system. And it's that big. And a lot 226 00:11:31,160 --> 00:11:34,000 Speaker 1: of people maybe kind of think they have an idea 227 00:11:34,040 --> 00:11:36,760 Speaker 1: of how the supply chains work, but probably a few 228 00:11:36,800 --> 00:11:39,040 Speaker 1: people have actually taken the time to think about it, 229 00:11:39,080 --> 00:11:41,880 Speaker 1: to think about how big, how complex it really is. 230 00:11:42,320 --> 00:11:43,959 Speaker 1: All right, so let me just take you through it, 231 00:11:44,040 --> 00:11:47,480 Speaker 1: just a very very simple thought exercise, but think about 232 00:11:47,920 --> 00:11:50,120 Speaker 1: think about just going to the store like you normally do, 233 00:11:50,320 --> 00:11:51,959 Speaker 1: and there's all these products on the store. How do 234 00:11:52,040 --> 00:11:54,959 Speaker 1: those products get on the store shelves at the very 235 00:11:54,960 --> 00:11:56,560 Speaker 1: time that you need it, at the same time at 236 00:11:56,559 --> 00:11:59,360 Speaker 1: the place, right, So think about going to go store. 237 00:11:59,360 --> 00:12:01,400 Speaker 1: You want to buy a little bread. Well, the bread 238 00:12:01,400 --> 00:12:05,760 Speaker 1: didn't just magically get there, right, It was delivered by somebody. 239 00:12:05,840 --> 00:12:08,880 Speaker 1: It was probably a local bakery maybe, And so it 240 00:12:08,960 --> 00:12:11,360 Speaker 1: was delivered by a local bakery. There was a shelf 241 00:12:11,400 --> 00:12:14,280 Speaker 1: at the store that put it on the shelf. Um, 242 00:12:14,360 --> 00:12:17,040 Speaker 1: you carried it home, right, So somebody brought it there, 243 00:12:17,080 --> 00:12:19,120 Speaker 1: somebody put on the shelf, you carried it home, You 244 00:12:19,200 --> 00:12:22,240 Speaker 1: served it for dinner. That's the supply chain, right, the bakery, 245 00:12:22,760 --> 00:12:26,720 Speaker 1: the store, you, and then the food. That's the supply chain. 246 00:12:26,760 --> 00:12:29,120 Speaker 1: But that's that's that doesn't even scratch the surface. And 247 00:12:29,240 --> 00:12:31,560 Speaker 1: I can't even really scratch the surface. So think about it, like, 248 00:12:31,840 --> 00:12:34,840 Speaker 1: what about the truck that the driver used when they 249 00:12:34,880 --> 00:12:39,000 Speaker 1: delivered the bread. Where did the bakery get the flour from? 250 00:12:39,120 --> 00:12:41,440 Speaker 1: Where did the yeast and the water needed to make 251 00:12:41,440 --> 00:12:43,520 Speaker 1: the bread? Where did that come from? What about the 252 00:12:43,520 --> 00:12:47,000 Speaker 1: ovens that were used to bake the bread? What about 253 00:12:47,120 --> 00:12:50,600 Speaker 1: the probably hundred thousand parts that went into the oven? 254 00:12:50,760 --> 00:12:54,040 Speaker 1: Where did they come from? When the bread was baked 255 00:12:54,080 --> 00:12:57,160 Speaker 1: out of that oven, um was it put into like 256 00:12:57,240 --> 00:12:59,880 Speaker 1: a plastic bag or was it put into a paper bag? 257 00:13:00,320 --> 00:13:03,040 Speaker 1: Where did those come from? Where did the parts for 258 00:13:03,080 --> 00:13:05,080 Speaker 1: the plastic come from? For them to even make the 259 00:13:05,080 --> 00:13:09,280 Speaker 1: plastic bags? Right now, I've expanded a little bit, but 260 00:13:09,360 --> 00:13:13,360 Speaker 1: even that is just barely even scratching the surface. Right. 261 00:13:14,280 --> 00:13:17,480 Speaker 1: The flower used for baking comes from wheat, of course, right? Well, 262 00:13:17,720 --> 00:13:19,319 Speaker 1: where was where did the weak come from? It was 263 00:13:19,360 --> 00:13:23,400 Speaker 1: grown on a farm? Okay? Well, well on the farm. 264 00:13:23,920 --> 00:13:26,360 Speaker 1: Did they use fertilizer? Where the fertilizer come from? Do 265 00:13:26,440 --> 00:13:28,520 Speaker 1: they use heavy equipment? Do they use the tractor? Well, 266 00:13:28,520 --> 00:13:30,400 Speaker 1: where that tractor come from? Where did all the parts 267 00:13:30,640 --> 00:13:33,679 Speaker 1: for the tractor come from? What about the farmer that 268 00:13:33,800 --> 00:13:36,200 Speaker 1: hired labor? Where did those people come from? Do they 269 00:13:36,280 --> 00:13:38,320 Speaker 1: use water? Where did that water come from? What about 270 00:13:38,360 --> 00:13:39,960 Speaker 1: the first? Right? On and on and on? Right, we 271 00:13:40,000 --> 00:13:43,840 Speaker 1: can just keep going and going and going. Right, Like 272 00:13:43,880 --> 00:13:46,440 Speaker 1: I said, the oven they have, The oven itself has 273 00:13:46,480 --> 00:13:48,880 Speaker 1: their own supply chain. Where did the steel come from? 274 00:13:48,920 --> 00:13:50,839 Speaker 1: Where did the glass come from? Where did the semiconductors 275 00:13:50,840 --> 00:13:53,199 Speaker 1: come from, where the electrical scirpts come from? And on 276 00:13:53,240 --> 00:13:56,440 Speaker 1: and on and on. Now, the ovens, you know, are 277 00:13:56,520 --> 00:13:59,559 Speaker 1: either you know, handcrafted, made by hand, or their mass 278 00:13:59,559 --> 00:14:03,920 Speaker 1: produced in a factory that then also uses probably assembly lines. 279 00:14:04,080 --> 00:14:06,360 Speaker 1: And then what about those assembly lines? Where did those 280 00:14:06,400 --> 00:14:11,200 Speaker 1: parts come from? The factory uses inputs like electricity, So 281 00:14:11,240 --> 00:14:15,240 Speaker 1: where does the electricity come from? Do they use natural gas? Uh? Right? 282 00:14:15,280 --> 00:14:17,079 Speaker 1: Where where does that come from? Where are the lines 283 00:14:17,120 --> 00:14:20,400 Speaker 1: that run the natural gas? Um the store that sells 284 00:14:20,440 --> 00:14:24,400 Speaker 1: the breads on the receiving end, right, And they require 285 00:14:24,440 --> 00:14:27,400 Speaker 1: electricity as well. They also need gas for for heating. 286 00:14:27,520 --> 00:14:30,560 Speaker 1: They they also need labor. They need loading docks and 287 00:14:30,680 --> 00:14:36,240 Speaker 1: delivery rooms and inventory rooms. So you get it. It's complex, right, 288 00:14:37,120 --> 00:14:40,560 Speaker 1: But how does all that work? How does that entire 289 00:14:40,720 --> 00:14:43,760 Speaker 1: network work? How is it that the wheat is made 290 00:14:43,800 --> 00:14:45,800 Speaker 1: and turned into flour and delivered to the baker and 291 00:14:45,800 --> 00:14:48,160 Speaker 1: the baker knows the bags to use and get the 292 00:14:48,160 --> 00:14:50,080 Speaker 1: bags and gets the bread to the shelf and the 293 00:14:50,080 --> 00:14:54,640 Speaker 1: one loaf, And how does that entire system work? And 294 00:14:54,680 --> 00:14:57,920 Speaker 1: that's just bread. Now think of that times every product 295 00:14:57,960 --> 00:15:00,560 Speaker 1: in the world. For your tires on your car or 296 00:15:00,600 --> 00:15:03,720 Speaker 1: your car itself, or the the phone, the iPhone that 297 00:15:03,720 --> 00:15:06,200 Speaker 1: you may be listening to me on right now, think 298 00:15:06,240 --> 00:15:09,000 Speaker 1: about everything else, and then you fig factory. And there's 299 00:15:09,040 --> 00:15:11,960 Speaker 1: three million people United States seven and have billion people 300 00:15:11,960 --> 00:15:15,040 Speaker 1: in the world that all have changing once needs and 301 00:15:15,120 --> 00:15:18,160 Speaker 1: desires constantly. So how is it that no matter how 302 00:15:18,200 --> 00:15:22,280 Speaker 1: irrational you are as a human. So for example, I 303 00:15:22,400 --> 00:15:25,520 Speaker 1: love vanilla ice cream. I always want vanilla ice cream 304 00:15:25,560 --> 00:15:29,280 Speaker 1: all the time, but today I want chocolate ice cream. 305 00:15:29,520 --> 00:15:33,120 Speaker 1: I don't know why, I just do because I'm irrational, right, 306 00:15:33,640 --> 00:15:36,360 Speaker 1: So how can we have three million people in the 307 00:15:36,400 --> 00:15:37,960 Speaker 1: US or seven and a half billion people in the world, 308 00:15:38,120 --> 00:15:41,120 Speaker 1: all irrational human beings that have constantly shifting once needs 309 00:15:41,120 --> 00:15:43,880 Speaker 1: and desires, that have all different types of products that 310 00:15:43,920 --> 00:15:46,360 Speaker 1: we want. And how is it that we can go 311 00:15:46,480 --> 00:15:50,320 Speaker 1: to a restaurant or a store or sportings good store 312 00:15:50,680 --> 00:15:53,760 Speaker 1: and have the exact product that I need with all 313 00:15:53,880 --> 00:15:57,680 Speaker 1: those supply chains, with all those vendors, hundreds or not 314 00:15:57,800 --> 00:16:00,960 Speaker 1: hundreds thousands, hundreds of thousands of vendors and people that 315 00:16:01,000 --> 00:16:03,520 Speaker 1: are required to get those parts together to make that 316 00:16:03,560 --> 00:16:06,680 Speaker 1: tennis racket or that bicycle or that surfboard or whatever 317 00:16:06,680 --> 00:16:08,960 Speaker 1: it is. How does that work, how are all those 318 00:16:09,000 --> 00:16:12,680 Speaker 1: people coordinating? Um, if I'm selling bread in the store, 319 00:16:12,760 --> 00:16:15,000 Speaker 1: I don't know the farmer who's growing the wheat. I 320 00:16:15,040 --> 00:16:17,200 Speaker 1: don't call him and say, hey, I'm gonna sell more 321 00:16:17,200 --> 00:16:20,520 Speaker 1: bread next year, I need more wheat. No, all of 322 00:16:20,520 --> 00:16:25,040 Speaker 1: that is coordinated by something called a signal. And what 323 00:16:25,160 --> 00:16:28,600 Speaker 1: is the signal? The signal is the price. The price 324 00:16:28,680 --> 00:16:31,360 Speaker 1: is the signal. So if the price of something goes up, 325 00:16:31,800 --> 00:16:35,200 Speaker 1: for example, today, I want chocolate ice cream, well, then 326 00:16:35,360 --> 00:16:38,360 Speaker 1: if everybody wants more chocolate ice cream, there's more demand 327 00:16:38,360 --> 00:16:40,280 Speaker 1: for chocolate ice cream. Then guess what happens. The price 328 00:16:40,320 --> 00:16:43,800 Speaker 1: goes up and two things happen. One people buy buy 329 00:16:43,920 --> 00:16:47,840 Speaker 1: less chocolate ice cream, there's less demand, and two ice 330 00:16:47,880 --> 00:16:51,720 Speaker 1: cream manufacturers make more chocolate ice cream. And so that signal, 331 00:16:51,840 --> 00:16:55,000 Speaker 1: that price signal, is what coordinates the economy, like hey, 332 00:16:55,040 --> 00:16:57,080 Speaker 1: we need more chocolate ice cream over here, or we 333 00:16:57,120 --> 00:16:59,680 Speaker 1: need more bicycles over here, and so it's that signal. 334 00:17:00,200 --> 00:17:04,160 Speaker 1: But what happens when the signal gets distorted and nobody 335 00:17:04,200 --> 00:17:07,359 Speaker 1: can understand the signal. So if the price is the signal, 336 00:17:07,880 --> 00:17:11,520 Speaker 1: the money is the communication. The money communicates the signal. 337 00:17:11,600 --> 00:17:13,800 Speaker 1: The money communicates the price. When you pay for something 338 00:17:13,840 --> 00:17:16,840 Speaker 1: with your money, you're paying the price. The price is 339 00:17:16,920 --> 00:17:20,159 Speaker 1: the signal, and so money is not a lot of 340 00:17:20,200 --> 00:17:21,960 Speaker 1: people really haven't taken the time to think about what 341 00:17:22,040 --> 00:17:23,920 Speaker 1: money is. And if you haven't taken the time to 342 00:17:23,920 --> 00:17:26,360 Speaker 1: think about what money is, then of course you don't 343 00:17:26,440 --> 00:17:29,280 Speaker 1: understand why bitcoin is important because you don't get it. 344 00:17:29,359 --> 00:17:31,600 Speaker 1: You haven't taken the time to think through this. But 345 00:17:31,680 --> 00:17:34,520 Speaker 1: this is a massive, massive problem. I want to explain 346 00:17:34,600 --> 00:17:36,320 Speaker 1: to you the money and the signal piece, but I 347 00:17:36,359 --> 00:17:39,239 Speaker 1: wanna tell you how it gets corrupted and how it 348 00:17:39,359 --> 00:17:42,440 Speaker 1: leads to bigger problems than the supply chains, Bigger than that. 349 00:17:42,840 --> 00:17:44,880 Speaker 1: I want to explain to you that when I come back, 350 00:17:44,920 --> 00:17:47,240 Speaker 1: you're listening to the Markmas Show, we're talking about bitcoin. 351 00:17:47,359 --> 00:17:48,960 Speaker 1: If you haven't guess, we're talking about bitcoin, We're talking 352 00:17:48,960 --> 00:17:50,960 Speaker 1: about money, We're talking about bitcoin. We're talking about solving 353 00:17:50,960 --> 00:17:56,520 Speaker 1: the world problems. We're talking about the decentralized revolution, cryptocurrencies, etcetera. 354 00:17:56,920 --> 00:18:00,680 Speaker 1: I'm talking about the price and why bitcoin is important, 355 00:18:00,800 --> 00:18:03,240 Speaker 1: why it's worth the energy, why we should be spending 356 00:18:03,359 --> 00:18:06,399 Speaker 1: even more energy on it. I have more in a second. 357 00:18:06,600 --> 00:18:09,280 Speaker 1: Don't go away, all right, Welcome back, you are listening 358 00:18:09,280 --> 00:18:11,239 Speaker 1: to the Mark Moa show. We're talking about bitcoin, We're 359 00:18:11,240 --> 00:18:14,600 Speaker 1: talking about cryptocurrencies, we are talking about the decentralized revolution. 360 00:18:15,560 --> 00:18:19,080 Speaker 1: And today, right now, we are talking about supply chains 361 00:18:19,080 --> 00:18:21,719 Speaker 1: breaking down. Now, how does that apply to bitcoin. It's 362 00:18:21,720 --> 00:18:23,639 Speaker 1: a good question, the one that you should know the 363 00:18:23,680 --> 00:18:26,160 Speaker 1: answer to. It's the answer that you need to know 364 00:18:26,320 --> 00:18:29,240 Speaker 1: because you need to know why do we even need 365 00:18:29,280 --> 00:18:31,760 Speaker 1: something like bitcoin? Why is it even important? And it's 366 00:18:31,800 --> 00:18:35,600 Speaker 1: because the money is broken. The fiat money system that 367 00:18:35,640 --> 00:18:37,639 Speaker 1: we have is broken. The fiat money system being broken 368 00:18:37,760 --> 00:18:40,920 Speaker 1: causes all the problems that we have today. So we say, 369 00:18:40,960 --> 00:18:42,679 Speaker 1: if we can fix the money, we can fix the world. 370 00:18:42,960 --> 00:18:45,080 Speaker 1: And that is what bitcoin is doing. So I was 371 00:18:45,080 --> 00:18:47,600 Speaker 1: given a story of supply chains and how they work. 372 00:18:48,800 --> 00:18:52,080 Speaker 1: I was explaining just a very simple example of a 373 00:18:52,080 --> 00:18:55,520 Speaker 1: supply chain of bread and probably hopefully expanded you're you're 374 00:18:55,560 --> 00:18:58,399 Speaker 1: thinking about that and to understand how big of a 375 00:18:58,480 --> 00:19:01,640 Speaker 1: story that really is. It wasn't exaggerated, as a matter 376 00:19:01,640 --> 00:19:04,840 Speaker 1: of fact, I made it seem very very simple, but 377 00:19:04,880 --> 00:19:07,760 Speaker 1: I was explaining how, um, you know, all these parts 378 00:19:07,880 --> 00:19:10,240 Speaker 1: or all these products take lots and lots of parts 379 00:19:10,840 --> 00:19:15,280 Speaker 1: and and it requires this massive coordination all over the world. 380 00:19:15,760 --> 00:19:17,080 Speaker 1: And when I say all over the world, I mean 381 00:19:17,080 --> 00:19:18,760 Speaker 1: all over the world. So this isn't just the United 382 00:19:18,800 --> 00:19:22,119 Speaker 1: States problem. Think about the iPhone. If you have an iPhone, 383 00:19:22,160 --> 00:19:24,880 Speaker 1: which I forget, I don't know people in the US 384 00:19:24,880 --> 00:19:26,560 Speaker 1: have one or something like that half the people probably, 385 00:19:26,560 --> 00:19:29,720 Speaker 1: I'm not sure. But think about the iPhone itself. Right, 386 00:19:29,760 --> 00:19:33,359 Speaker 1: So the iPhone comes from China, but did you know 387 00:19:33,400 --> 00:19:35,399 Speaker 1: the glass that's used on the iPhone actually comes from 388 00:19:35,440 --> 00:19:38,800 Speaker 1: South Korea, and the semiconductors in the phone came from Taiwan, 389 00:19:39,440 --> 00:19:42,199 Speaker 1: and the intellectual property design came from of course Apple 390 00:19:42,280 --> 00:19:45,560 Speaker 1: in California. The iPhone includes like flash storage that comes 391 00:19:45,560 --> 00:19:50,480 Speaker 1: from Japan, includes gyroscopes that come from Germany, has audio amplifiers, 392 00:19:50,680 --> 00:19:54,840 Speaker 1: battery chargers, um batteries, cameras, hundreds of other advanced parts. 393 00:19:55,560 --> 00:19:59,520 Speaker 1: In total, Apple works with suppliers in forty three different 394 00:19:59,560 --> 00:20:02,359 Speaker 1: country these on six different continents to source all the 395 00:20:02,440 --> 00:20:05,959 Speaker 1: materials that go just into the iPhone. And that's such 396 00:20:06,000 --> 00:20:08,119 Speaker 1: a quick example. And what I was saying is how 397 00:20:08,800 --> 00:20:11,640 Speaker 1: how do the people making the glass know how much 398 00:20:11,640 --> 00:20:14,360 Speaker 1: glass to make, and the people to make the semiconductors 399 00:20:14,359 --> 00:20:16,040 Speaker 1: and so all of that has to get coordinated is 400 00:20:16,080 --> 00:20:19,160 Speaker 1: done by the price and the money. When I pay 401 00:20:19,240 --> 00:20:22,879 Speaker 1: for a product, that money is is communicating that price signal, 402 00:20:24,400 --> 00:20:26,760 Speaker 1: and it works pretty good when the money supply stays 403 00:20:26,800 --> 00:20:30,879 Speaker 1: relatively relatively constant. So for five thousand years, gold was money, 404 00:20:31,359 --> 00:20:33,200 Speaker 1: and the gold, you know, the gold supply of the 405 00:20:33,240 --> 00:20:37,040 Speaker 1: world increases. Gold miners are out there mining new gold, 406 00:20:37,080 --> 00:20:38,760 Speaker 1: and it increases at a at a rate of about 407 00:20:38,840 --> 00:20:42,280 Speaker 1: one and a half percent per year. And so the 408 00:20:42,280 --> 00:20:45,200 Speaker 1: the increase in the in the monetary supply, the gold 409 00:20:45,200 --> 00:20:47,560 Speaker 1: monetary supply increases at about the same rate as the 410 00:20:47,560 --> 00:20:50,320 Speaker 1: population does, and so it's kind of expanding as the 411 00:20:50,320 --> 00:20:54,200 Speaker 1: people are are are expanding as well. And so because 412 00:20:54,240 --> 00:20:58,919 Speaker 1: that monetary supply is basically, you know, staying somewhat constant, 413 00:20:59,359 --> 00:21:02,640 Speaker 1: that sig know, that price signal holds up pretty well 414 00:21:02,840 --> 00:21:06,520 Speaker 1: and people can communicate properly. But what happens if I 415 00:21:06,600 --> 00:21:10,080 Speaker 1: were to get a whole bunch more money, say eight 416 00:21:10,119 --> 00:21:12,960 Speaker 1: trillion dollars, like like the United States government and the 417 00:21:12,960 --> 00:21:14,639 Speaker 1: FED dumped into the market. Let's say that I took 418 00:21:14,680 --> 00:21:16,600 Speaker 1: another eight trillion dollars and I just dumped it right 419 00:21:16,640 --> 00:21:20,000 Speaker 1: into the market. Now, all that new money that I 420 00:21:20,080 --> 00:21:24,080 Speaker 1: dumped in the market starts to distort the signal. Now 421 00:21:24,119 --> 00:21:28,199 Speaker 1: the signal can't coordinate the people properly. Now, in the 422 00:21:28,280 --> 00:21:30,200 Speaker 1: example I gave of the chocolate ice cream, if you 423 00:21:30,280 --> 00:21:32,080 Speaker 1: with me before the break, I explained how when the 424 00:21:32,080 --> 00:21:33,960 Speaker 1: price of chocolate ice cream goes up, two things happen. 425 00:21:34,119 --> 00:21:36,480 Speaker 1: One people buy less chocolate ice cream, but two people 426 00:21:36,560 --> 00:21:38,480 Speaker 1: make more of it. So there's a saying. We say 427 00:21:38,520 --> 00:21:42,680 Speaker 1: that high prices are the cure for high prices. Now 428 00:21:42,760 --> 00:21:45,560 Speaker 1: you know, unless you're living under a rock, you know 429 00:21:45,640 --> 00:21:49,320 Speaker 1: that inflation is running insanely rampant. As a matter of fact, 430 00:21:49,400 --> 00:21:52,760 Speaker 1: I think it was last Friday the Fed's new number inflation. 431 00:21:52,800 --> 00:21:57,000 Speaker 1: The CPI, the consumer Price index is at six, is 432 00:21:57,000 --> 00:22:00,359 Speaker 1: the highest point in forty years, four decades. And that 433 00:22:00,359 --> 00:22:03,040 Speaker 1: means the cost of everything has gone up. Use cars up, 434 00:22:03,840 --> 00:22:09,480 Speaker 1: homes are up, uh, stakes up, lumbers up, whatever. Um. 435 00:22:09,520 --> 00:22:11,760 Speaker 1: If you're in another country like Europe, you're seeing natural 436 00:22:11,760 --> 00:22:14,199 Speaker 1: gascup a thousand percent. In the US, fertilizers gone up 437 00:22:14,200 --> 00:22:16,880 Speaker 1: a thousand percent. So prices are going up on everything 438 00:22:16,920 --> 00:22:19,960 Speaker 1: like crazy. And like I said, typically high prices are 439 00:22:20,000 --> 00:22:23,120 Speaker 1: the cure for high prices. And so when the price 440 00:22:23,119 --> 00:22:25,399 Speaker 1: of things go up, people by less and other people 441 00:22:25,440 --> 00:22:28,480 Speaker 1: make more. But when you dump eight trillion dollars into 442 00:22:28,520 --> 00:22:31,840 Speaker 1: the market and prices go up, people don't care. They're 443 00:22:31,840 --> 00:22:34,119 Speaker 1: gonna pay more anyway, they don't even care, they'll just 444 00:22:34,160 --> 00:22:36,760 Speaker 1: pay more. But also it makes it very hard for 445 00:22:36,840 --> 00:22:39,280 Speaker 1: the suppliers to make more because of the prices have 446 00:22:39,400 --> 00:22:42,320 Speaker 1: gotten so high, and the supply chains are breaking down, 447 00:22:42,960 --> 00:22:46,600 Speaker 1: and so the entire market starts to get distorted. We're 448 00:22:46,640 --> 00:22:49,800 Speaker 1: warned about this by um one of my favorite economists, 449 00:22:49,800 --> 00:22:52,200 Speaker 1: the austri the father of the Austrian school of economics, 450 00:22:52,280 --> 00:22:55,879 Speaker 1: Leudwood von mess and something that he calls the crack 451 00:22:56,040 --> 00:22:58,480 Speaker 1: up boom. I don't have an exactly word for word 452 00:22:58,480 --> 00:23:01,120 Speaker 1: in front of me, but basically he warned us about 453 00:23:01,160 --> 00:23:05,480 Speaker 1: a hundred years ago that anytime you have a credit 454 00:23:05,520 --> 00:23:08,199 Speaker 1: and monetary expansion, which is what we've had, right. So 455 00:23:08,240 --> 00:23:10,920 Speaker 1: since nineteen one, we severed the ties of the gold standard, 456 00:23:11,160 --> 00:23:14,760 Speaker 1: and we've increased the monetary supply, we've printed more dollars, 457 00:23:15,200 --> 00:23:17,879 Speaker 1: and we've had a credit expansion. So now there's about 458 00:23:17,920 --> 00:23:21,720 Speaker 1: three hundred trillion dollars worth of debt that's been built up. 459 00:23:21,920 --> 00:23:24,680 Speaker 1: That's three d trillion dollars of debt that's been built 460 00:23:24,720 --> 00:23:26,320 Speaker 1: up in the last fifty years. So we've had a 461 00:23:26,320 --> 00:23:28,320 Speaker 1: debt expansion of monetary expansion. So whenever you have a 462 00:23:28,359 --> 00:23:31,879 Speaker 1: debt monetary expansion, that leads to an economic boom. So 463 00:23:32,000 --> 00:23:33,879 Speaker 1: we've had that, right, So the economy has been booming 464 00:23:33,920 --> 00:23:37,000 Speaker 1: for the last few decades. Whenever you have those two things, 465 00:23:37,160 --> 00:23:40,800 Speaker 1: he says, what comes next is distortions in the market, 466 00:23:41,320 --> 00:23:46,320 Speaker 1: worker shortages, misallocation, mismatch of products. And so now you're 467 00:23:46,320 --> 00:23:48,400 Speaker 1: starting to see that this is where the supply chains 468 00:23:48,400 --> 00:23:50,840 Speaker 1: are starting to break down. People are quitting their jobs 469 00:23:50,880 --> 00:23:54,680 Speaker 1: to go trade cryptocurrencies or options on robin hood. People 470 00:23:54,840 --> 00:23:57,080 Speaker 1: are quitting their jobs because they can stay home and 471 00:23:57,119 --> 00:23:59,840 Speaker 1: make more on stimmy. The people that do stay working 472 00:24:00,160 --> 00:24:04,240 Speaker 1: work less, They work slower, they work less efficient. As 473 00:24:04,280 --> 00:24:06,000 Speaker 1: I said when we first started out, there's about a 474 00:24:06,080 --> 00:24:08,199 Speaker 1: hundred plus or minus ships sitting off the coast of 475 00:24:08,200 --> 00:24:11,560 Speaker 1: southern California. They can't get their um their cargo unloaded. 476 00:24:11,560 --> 00:24:13,560 Speaker 1: I think it's like an average of like three weeks. 477 00:24:13,560 --> 00:24:17,600 Speaker 1: But why, we've always known how to unload hips. It's 478 00:24:17,640 --> 00:24:20,080 Speaker 1: nothing new. This is nothing that we haven't done before. 479 00:24:20,680 --> 00:24:22,520 Speaker 1: Why is this happening all of a sudden. Now, of course, 480 00:24:22,680 --> 00:24:24,440 Speaker 1: you know President Biden wants to go figure this out. 481 00:24:24,720 --> 00:24:26,600 Speaker 1: He's gonna get to the bottom of it. But let 482 00:24:26,600 --> 00:24:28,440 Speaker 1: me just make it real, make it real simple for you. 483 00:24:28,840 --> 00:24:33,000 Speaker 1: It's the money, stupid. The money just told us a 484 00:24:33,040 --> 00:24:35,360 Speaker 1: hundred years ago this would happen. If you have an 485 00:24:35,359 --> 00:24:37,600 Speaker 1: expansion of the luntors by and a boom in the economy, 486 00:24:37,880 --> 00:24:42,000 Speaker 1: it will lead to this exact same problem. So what 487 00:24:42,119 --> 00:24:45,119 Speaker 1: comes next, per Messes, Well, the crack up boom. So 488 00:24:45,160 --> 00:24:49,760 Speaker 1: he says, what comes next is that, he says, finally, 489 00:24:50,000 --> 00:24:53,320 Speaker 1: the people will wake up when they realize that inflation 490 00:24:54,160 --> 00:25:00,119 Speaker 1: is both permanent and intentional. Permanent and intentional. So the 491 00:25:00,160 --> 00:25:02,320 Speaker 1: FED has a target, the Federal Reserve, the Central Bank 492 00:25:02,359 --> 00:25:06,719 Speaker 1: of America has a target of two percent inflation. It's intentional. 493 00:25:06,840 --> 00:25:09,160 Speaker 1: This is not an accident. Their goal is to steal 494 00:25:09,160 --> 00:25:11,480 Speaker 1: two percent of your purchasing power from you every single year. 495 00:25:11,720 --> 00:25:13,520 Speaker 1: But of course, like I said, as of last Friday, 496 00:25:13,520 --> 00:25:16,800 Speaker 1: it was actually six point percent, not two. The reality 497 00:25:16,880 --> 00:25:20,600 Speaker 1: is it's closer to that. They're intentionally stealing from you. 498 00:25:20,960 --> 00:25:22,800 Speaker 1: So he said, when people wake up and realize it's 499 00:25:22,840 --> 00:25:27,240 Speaker 1: intentional and constant. So it's intentional and that's their goal. 500 00:25:27,320 --> 00:25:29,520 Speaker 1: It's not a temporary goal. This is their permanent goal. 501 00:25:30,240 --> 00:25:33,520 Speaker 1: He says. When that happens, then people won't want to 502 00:25:33,560 --> 00:25:36,719 Speaker 1: hold dollars anymore and they'll dump them as fast as 503 00:25:36,800 --> 00:25:40,679 Speaker 1: they can, which is why people are buying anything and 504 00:25:40,720 --> 00:25:43,520 Speaker 1: everything they can get their hands on now. Unintentionally they're 505 00:25:43,520 --> 00:25:46,520 Speaker 1: doing this. They don't they don't probably understand this, but 506 00:25:46,520 --> 00:25:48,959 Speaker 1: they're doing it. So like, shoot, I should probably buy 507 00:25:49,000 --> 00:25:50,560 Speaker 1: a house right now because I may not be able 508 00:25:50,560 --> 00:25:53,440 Speaker 1: to afford that house later. I should buy by buy 509 00:25:53,440 --> 00:25:55,359 Speaker 1: a car right now because I mean by it later. 510 00:25:55,359 --> 00:25:57,520 Speaker 1: I should probably buy more toilet paper now because I 511 00:25:57,560 --> 00:25:59,520 Speaker 1: may not be able to get that toilet paper later. 512 00:26:00,080 --> 00:26:02,600 Speaker 1: What they're really saying, they don't understand this, but what 513 00:26:02,600 --> 00:26:05,080 Speaker 1: they're really saying is I have to get rid of 514 00:26:05,119 --> 00:26:08,359 Speaker 1: these dollars today because they're becoming worthless and I won't 515 00:26:08,359 --> 00:26:10,720 Speaker 1: be able to buy as much in the future. That's 516 00:26:10,720 --> 00:26:13,080 Speaker 1: what That's what he's really saying. No, um, he wrote 517 00:26:13,119 --> 00:26:16,400 Speaker 1: this over a hundred years ago, but it sounds pretty 518 00:26:16,400 --> 00:26:20,359 Speaker 1: eerily of what we're seeing today, doesn't it. Remember, if 519 00:26:20,359 --> 00:26:21,800 Speaker 1: you can fix the money to fix the world. But 520 00:26:22,800 --> 00:26:27,160 Speaker 1: what did he say happens after that? Huh? I mean 521 00:26:27,160 --> 00:26:31,320 Speaker 1: if he predicted this, what did he predict happens? And 522 00:26:31,359 --> 00:26:32,880 Speaker 1: that's the part that I want to share with you next, 523 00:26:33,000 --> 00:26:35,919 Speaker 1: because if you understand the past, you can understand the future. 524 00:26:35,960 --> 00:26:38,840 Speaker 1: And he warned us and it's all coming true. These 525 00:26:38,880 --> 00:26:41,119 Speaker 1: are the problems that the money has. And this is 526 00:26:41,200 --> 00:26:46,040 Speaker 1: why something like bitcoin is so important. This is why 527 00:26:46,160 --> 00:26:48,080 Speaker 1: when people say at the waste of energy, they don't 528 00:26:48,160 --> 00:26:51,000 Speaker 1: understand how important this is. That's why I say we 529 00:26:51,040 --> 00:26:54,480 Speaker 1: should put even more money into it. The supply chains 530 00:26:54,480 --> 00:26:57,200 Speaker 1: breaking down is a massive problem. The supply chains breaking 531 00:26:57,240 --> 00:27:00,879 Speaker 1: down is the economy breaking down. The entire are economy 532 00:27:01,240 --> 00:27:04,600 Speaker 1: is the supply chain. Economy is goods and services. If 533 00:27:04,600 --> 00:27:07,359 Speaker 1: the supply chains breakdown, I have no goods and services, 534 00:27:07,400 --> 00:27:11,760 Speaker 1: I have no economy. That's how important this is. We 535 00:27:11,800 --> 00:27:13,560 Speaker 1: can't go through booms and bus all the time. We 536 00:27:13,640 --> 00:27:17,240 Speaker 1: need to fix this, and fixing the money will fix 537 00:27:17,280 --> 00:27:19,280 Speaker 1: the world. I say we spend more energy. By the way, 538 00:27:19,280 --> 00:27:21,160 Speaker 1: you're listening to the Mark Moa show, we're talking about bitcoin. 539 00:27:21,200 --> 00:27:22,400 Speaker 1: If you didn't figure it out by now, we're talking 540 00:27:22,400 --> 00:27:26,680 Speaker 1: about bitcoin cryptocurrencies. This decentralized revolution. Today, I'm talking about why, 541 00:27:27,000 --> 00:27:30,320 Speaker 1: why does this matter? And most importantly, what did Ludwood 542 00:27:30,280 --> 00:27:33,160 Speaker 1: want of means to say? What comes next? Don't go away? 543 00:27:33,440 --> 00:27:35,480 Speaker 1: All right, welcome back. You're listening to the Markma Show. 544 00:27:35,520 --> 00:27:38,840 Speaker 1: We're talking about bitcoin, we're talking about cryptocurrencies. We're talking 545 00:27:38,880 --> 00:27:43,439 Speaker 1: about this decentralized revolution. There's a million, a million and 546 00:27:43,480 --> 00:27:48,760 Speaker 1: one angles and ways and things that we can talk about. Today. 547 00:27:48,840 --> 00:27:52,080 Speaker 1: We're talking about why, why do we even need this? 548 00:27:52,280 --> 00:27:55,360 Speaker 1: Why do we even care? And I get it, you know, uh, 549 00:27:55,520 --> 00:27:57,560 Speaker 1: coming from the United States, we have a you know, 550 00:27:57,800 --> 00:28:01,760 Speaker 1: somewhat relatively money monetary supply whatever means. I mean, you know, 551 00:28:01,800 --> 00:28:04,800 Speaker 1: our dollars lost its purchasing power in the last hundred year. 552 00:28:04,800 --> 00:28:06,879 Speaker 1: So I don't know if that's stable, but it's definitely 553 00:28:06,920 --> 00:28:08,600 Speaker 1: not anywhere near as bad as what we see in 554 00:28:08,680 --> 00:28:12,320 Speaker 1: Lebanon or Argentina or Turkey or something like that. And 555 00:28:12,359 --> 00:28:14,960 Speaker 1: so um, you know a lot of people don't realize 556 00:28:15,040 --> 00:28:17,800 Speaker 1: why we need to fix the money, but they don't 557 00:28:17,840 --> 00:28:21,240 Speaker 1: understand what money is. And more importantly, they don't understand. 558 00:28:21,240 --> 00:28:23,320 Speaker 1: When they don't understand what money is, they don't understand 559 00:28:23,359 --> 00:28:25,960 Speaker 1: what uh, what's wrong? With having a bad form of money. 560 00:28:26,320 --> 00:28:28,680 Speaker 1: And so I was explaining how the supply chains breaking down. 561 00:28:28,720 --> 00:28:31,120 Speaker 1: Supply chains breaking down means the economy is breaking down. 562 00:28:31,440 --> 00:28:33,640 Speaker 1: When the economy breaks down, that means we have no wealth, 563 00:28:33,640 --> 00:28:35,359 Speaker 1: because wealth is goods and services that come from the 564 00:28:35,359 --> 00:28:37,399 Speaker 1: supply chain. And the reason why the supply chain is 565 00:28:37,400 --> 00:28:41,360 Speaker 1: breaking down are not because we are buying too many products. Well, 566 00:28:41,400 --> 00:28:43,479 Speaker 1: that's part of it, but the reason why supply chain 567 00:28:43,520 --> 00:28:46,479 Speaker 1: is breaking down are because of the money. And not 568 00:28:46,520 --> 00:28:49,000 Speaker 1: just because of the money, but because the federal government, 569 00:28:49,040 --> 00:28:54,200 Speaker 1: the Federal Reserve Central Bank of America, printed fake counterfeit money, 570 00:28:54,280 --> 00:28:58,120 Speaker 1: eight trillion dollars worth and dumped it into the economy, 571 00:28:58,680 --> 00:29:02,479 Speaker 1: and it distorted the money supplied, distorted the signal that 572 00:29:02,560 --> 00:29:05,720 Speaker 1: coordinates the economy, and now the economy doesn't know how 573 00:29:05,800 --> 00:29:07,760 Speaker 1: to act, It doesn't know how to work because the 574 00:29:07,840 --> 00:29:12,000 Speaker 1: signal has become distorted. It's sort of like, um, if 575 00:29:12,000 --> 00:29:14,200 Speaker 1: you're listening to me over the radio right now, and 576 00:29:14,360 --> 00:29:16,480 Speaker 1: you your car goes out of range, and I'm starting 577 00:29:16,480 --> 00:29:18,320 Speaker 1: to get all staticky and you can't hear me real well, 578 00:29:18,760 --> 00:29:20,040 Speaker 1: and now you don't know what I'm saying. You don't 579 00:29:20,040 --> 00:29:22,360 Speaker 1: want to do and that's exactly what happens when you 580 00:29:22,400 --> 00:29:24,360 Speaker 1: dump all that money into the system. And so we 581 00:29:24,440 --> 00:29:26,560 Speaker 1: need to have a pure signal if we want to 582 00:29:26,600 --> 00:29:28,520 Speaker 1: have if we want to have good action, I want 583 00:29:28,520 --> 00:29:30,040 Speaker 1: the world to work properly, then we have to have 584 00:29:30,080 --> 00:29:32,440 Speaker 1: clean signal. We can't have a fake, distorted signal. We 585 00:29:32,440 --> 00:29:35,000 Speaker 1: can't manipulate the signal. The signal has to be pure 586 00:29:35,480 --> 00:29:37,840 Speaker 1: and that comes from the money. So before the break, 587 00:29:37,840 --> 00:29:40,360 Speaker 1: I was talking about my one of my favorite economists, 588 00:29:40,400 --> 00:29:43,560 Speaker 1: Ludwig vun Mesas he's from the Austrian school of economics, 589 00:29:44,600 --> 00:29:47,920 Speaker 1: and there's really um the main school of economic thought 590 00:29:48,000 --> 00:29:51,120 Speaker 1: is is really spawned from what would be considered Kenzie 591 00:29:51,120 --> 00:29:52,920 Speaker 1: and economic Actually we have heard of that before. It's 592 00:29:53,040 --> 00:29:56,400 Speaker 1: John Maynard Keynes, and keyes is kind of the godfather 593 00:29:56,480 --> 00:29:58,560 Speaker 1: of the system that we have today, which is basically 594 00:29:58,600 --> 00:30:01,440 Speaker 1: he believes that, um, when the economy dips, the government 595 00:30:01,440 --> 00:30:06,000 Speaker 1: should step in and should spend artificially inject artificially stimulate 596 00:30:06,000 --> 00:30:08,480 Speaker 1: the economy with fake money to get it to start 597 00:30:08,520 --> 00:30:10,280 Speaker 1: growing again. It's kind of like, um, if your battery 598 00:30:10,320 --> 00:30:12,960 Speaker 1: died on your car your motorcycle and you bump start 599 00:30:13,000 --> 00:30:15,480 Speaker 1: it or you jump started and so he thinks that 600 00:30:15,520 --> 00:30:19,000 Speaker 1: it's okay for the government to create this fake counterfeit money, uh, 601 00:30:19,040 --> 00:30:21,240 Speaker 1: temporarily just to dump it into the system, just to 602 00:30:21,280 --> 00:30:24,120 Speaker 1: get it going again. So if you had, let's say 603 00:30:24,160 --> 00:30:27,160 Speaker 1: that the economy dipped and you lost a dollar from 604 00:30:27,160 --> 00:30:30,080 Speaker 1: the economy, he says that you should create fifty cents 605 00:30:30,080 --> 00:30:33,960 Speaker 1: of fake counterfeit money of debt, spend that fifty cents 606 00:30:34,000 --> 00:30:36,480 Speaker 1: to get that dollar worth of growth that you're missing. 607 00:30:36,760 --> 00:30:40,920 Speaker 1: That was his plan. The problem is today that we're 608 00:30:41,080 --> 00:30:43,200 Speaker 1: past what he calls the Kenzie and multiplier, which is 609 00:30:43,240 --> 00:30:47,080 Speaker 1: when a when a country gets over debt to GDP, 610 00:30:47,880 --> 00:30:51,160 Speaker 1: they don't get enough growth from the debt. So instead 611 00:30:51,160 --> 00:30:53,400 Speaker 1: of spending fifty cents of debt to get a dollar growth, 612 00:30:53,680 --> 00:30:56,720 Speaker 1: now you're spending a dollar of debt to get fifty 613 00:30:56,760 --> 00:30:58,920 Speaker 1: cents of growth. So what that means is you're just 614 00:30:58,960 --> 00:31:02,120 Speaker 1: digging yourself deeper and deeper in the whole. Now that's 615 00:31:02,160 --> 00:31:05,240 Speaker 1: when you get over. The United States is about a 616 00:31:05,320 --> 00:31:09,080 Speaker 1: hundred and thirty percent today. That doesn't sound good, does it. 617 00:31:09,160 --> 00:31:10,800 Speaker 1: As a matter of fact, there's a report from Hirshman 618 00:31:10,880 --> 00:31:15,000 Speaker 1: Capital that says that fifty one out of fifty two 619 00:31:15,040 --> 00:31:19,320 Speaker 1: countries that have gone above a hundred and thirty percent 620 00:31:19,440 --> 00:31:23,520 Speaker 1: debt to GDP have failed within fifteen years, and we're 621 00:31:23,520 --> 00:31:26,920 Speaker 1: over that number. That's the problem. Now back to Ludwig 622 00:31:27,000 --> 00:31:29,240 Speaker 1: Vam says he was talking about something called the crack 623 00:31:29,440 --> 00:31:32,000 Speaker 1: up boom. He wrote that wrote about this about a 624 00:31:32,040 --> 00:31:35,680 Speaker 1: hundred years ago, and I explained it. So he says, um. 625 00:31:35,800 --> 00:31:38,480 Speaker 1: He says, when you have a credit and monetary expansion 626 00:31:38,480 --> 00:31:40,680 Speaker 1: that leads to an economic boom, which is what we've had. 627 00:31:41,000 --> 00:31:43,040 Speaker 1: He says, then it leads to distortions in the market, 628 00:31:43,400 --> 00:31:45,959 Speaker 1: labor shortages, things like that, which is exactly what we have. 629 00:31:46,840 --> 00:31:48,800 Speaker 1: But it's what comes next. He says. Then then people 630 00:31:48,800 --> 00:31:52,760 Speaker 1: realize that inflation um is both intentional and permanent, which 631 00:31:52,800 --> 00:31:55,600 Speaker 1: it is, and they realized that UM. So what happens then? 632 00:31:55,760 --> 00:31:57,640 Speaker 1: He says, Then people will get rid of their dollars 633 00:31:57,680 --> 00:32:00,080 Speaker 1: as fast as they can in the economical crash, and 634 00:32:00,080 --> 00:32:01,720 Speaker 1: so we're at that stage. People are getting rid of 635 00:32:01,760 --> 00:32:04,880 Speaker 1: those dollars as fast as they can, and we're seeing 636 00:32:04,920 --> 00:32:07,920 Speaker 1: those dollars losing value, or I should say, those dollars 637 00:32:07,960 --> 00:32:13,080 Speaker 1: are buying less and less and less goods. A hundred 638 00:32:13,080 --> 00:32:15,640 Speaker 1: dollars from a from a year ago buys you about 639 00:32:15,640 --> 00:32:20,840 Speaker 1: eighty dollars worth of goods today. It's theft. The government's 640 00:32:20,840 --> 00:32:23,960 Speaker 1: stealing from you. Do you like being stolen from? When 641 00:32:24,000 --> 00:32:27,000 Speaker 1: I was I was like I forgot I think sevent 642 00:32:27,240 --> 00:32:31,280 Speaker 1: eighteen years old. Um my car got broken into. They 643 00:32:31,280 --> 00:32:34,040 Speaker 1: stole my stereo, they stole all my music out of it. 644 00:32:34,640 --> 00:32:36,720 Speaker 1: And it was like the most like, it was the 645 00:32:36,760 --> 00:32:39,960 Speaker 1: most violating thing I've ever felt. It was just like this. 646 00:32:40,040 --> 00:32:42,719 Speaker 1: It was like it was like a personal attack on me. 647 00:32:42,800 --> 00:32:46,240 Speaker 1: I was violated. I just felt so bad. It was 648 00:32:46,240 --> 00:32:47,840 Speaker 1: like the worst feeling like. And if you've ever been 649 00:32:47,880 --> 00:32:50,760 Speaker 1: stolen from, then you then you understand that feeling. It's 650 00:32:50,800 --> 00:32:53,840 Speaker 1: it's horrible. But that's what the government's doing. They're stealing 651 00:32:53,920 --> 00:32:59,040 Speaker 1: from you. Every time they print another dollar, they're stealing 652 00:32:59,160 --> 00:33:02,480 Speaker 1: the value of your dollars. So when they create one 653 00:33:02,520 --> 00:33:06,280 Speaker 1: more dollar, all the existing dollars are worth less. They 654 00:33:06,320 --> 00:33:09,760 Speaker 1: buy less. You don't have any control over it's theft. Now. 655 00:33:09,800 --> 00:33:11,320 Speaker 1: The reason why they do that is because the government 656 00:33:11,360 --> 00:33:14,280 Speaker 1: has too much debt and they can't increase taxes enough. 657 00:33:14,720 --> 00:33:17,320 Speaker 1: They can only increase taxes before the people are going 658 00:33:17,400 --> 00:33:19,440 Speaker 1: to freak out and overthrow them, and so they can't 659 00:33:19,440 --> 00:33:21,640 Speaker 1: really raise the taxes past where they're at right now. 660 00:33:22,240 --> 00:33:26,280 Speaker 1: So their option is they can just keep printing more money. 661 00:33:26,320 --> 00:33:29,600 Speaker 1: But the more dollars they print, the less your dollars 662 00:33:29,640 --> 00:33:32,120 Speaker 1: are worth, So not only the dollars and your savings account, 663 00:33:32,640 --> 00:33:35,320 Speaker 1: but also the dollars that you're earning as you work 664 00:33:35,360 --> 00:33:39,320 Speaker 1: your life away. Now, when one group of people like 665 00:33:39,400 --> 00:33:43,160 Speaker 1: you and I are forced to trade our time for money, 666 00:33:44,040 --> 00:33:46,200 Speaker 1: working for money, but another group of people have a 667 00:33:46,200 --> 00:33:50,280 Speaker 1: money printer they print money for free, that leads to 668 00:33:50,400 --> 00:33:55,520 Speaker 1: slavery every single time. They're literally stealing your life with 669 00:33:55,640 --> 00:34:00,400 Speaker 1: their money printing. And I'm not okay with that, okay 670 00:34:00,400 --> 00:34:02,440 Speaker 1: with that. And it's not just that they're not just 671 00:34:02,520 --> 00:34:06,680 Speaker 1: stealing the purchasing power from my dollars, they're distorting the 672 00:34:06,920 --> 00:34:10,960 Speaker 1: entire market, the entire economy. The supply chains are breaking down, 673 00:34:11,000 --> 00:34:14,000 Speaker 1: people are losing their jobs, people can't get the products 674 00:34:14,040 --> 00:34:16,960 Speaker 1: they need on the stores. Like businesses have had a 675 00:34:17,080 --> 00:34:18,600 Speaker 1: very tough time over the last year and alfter the 676 00:34:18,600 --> 00:34:21,000 Speaker 1: pandemic being forced to shut down and all these things. 677 00:34:21,400 --> 00:34:24,600 Speaker 1: Here we are Christmas is Christmas is coming up, and 678 00:34:24,640 --> 00:34:26,400 Speaker 1: if they can have you know, a lot of these stores, 679 00:34:26,440 --> 00:34:28,759 Speaker 1: maybe half of the revenue for the year comes from 680 00:34:28,760 --> 00:34:31,880 Speaker 1: the Christmas season. But what if they can't get the 681 00:34:31,880 --> 00:34:35,439 Speaker 1: products on their shelves. Supply chains are broken down, the ship, 682 00:34:35,640 --> 00:34:38,480 Speaker 1: the ship from China didn't get unloaded. Now those customers 683 00:34:38,520 --> 00:34:40,600 Speaker 1: come in to buy those products for their friends and family, 684 00:34:40,640 --> 00:34:43,920 Speaker 1: but they're not on the shelves, they can't buy them. 685 00:34:44,080 --> 00:34:45,839 Speaker 1: See how big of a problem this creates. Now that 686 00:34:45,840 --> 00:34:48,359 Speaker 1: that that store doesn't sell the product, well, the vendor 687 00:34:48,400 --> 00:34:49,719 Speaker 1: trying to sell them to him doesn't have the good. 688 00:34:49,719 --> 00:34:51,440 Speaker 1: So the vendor loses out on the on the money, 689 00:34:51,640 --> 00:34:53,960 Speaker 1: The store loses out on the money. Then the then 690 00:34:54,000 --> 00:34:56,279 Speaker 1: the store that was hopefully and the vendor and store 691 00:34:56,280 --> 00:34:57,799 Speaker 1: we're gonna make money. They were gonna spend that one. 692 00:34:57,800 --> 00:34:59,200 Speaker 1: You know, they don't have that money to go spend. 693 00:34:59,800 --> 00:35:02,200 Speaker 1: You see how big of a problem this is. And 694 00:35:02,280 --> 00:35:06,400 Speaker 1: it's all because the money is broken. It's all because 695 00:35:07,040 --> 00:35:11,040 Speaker 1: you're lovely government and their money printer or the central 696 00:35:11,040 --> 00:35:14,920 Speaker 1: bank continues to print money that distorts these markets. So 697 00:35:14,960 --> 00:35:17,080 Speaker 1: I know, I know, I know, I know they a 698 00:35:17,080 --> 00:35:20,560 Speaker 1: lot of you love it. They they're buying your vote. Hey, hey, hey, 699 00:35:20,640 --> 00:35:23,920 Speaker 1: we're gonna we're gonna spend more money on infrastructure. We're 700 00:35:23,920 --> 00:35:26,200 Speaker 1: gonna we're gonna, we're gonna build some new roads and 701 00:35:26,239 --> 00:35:29,200 Speaker 1: some bridges for you, and we're gonna send everybody free 702 00:35:29,280 --> 00:35:31,120 Speaker 1: education and free healthcare, and we're gonna pay you to 703 00:35:31,160 --> 00:35:32,920 Speaker 1: stay home and not work and all those things. And 704 00:35:32,960 --> 00:35:34,759 Speaker 1: that sounds great, and a lot of people are for that. 705 00:35:34,880 --> 00:35:36,919 Speaker 1: I mean, shoot, I'll raise my hand and take free 706 00:35:36,920 --> 00:35:39,239 Speaker 1: money if you want to give it to me. But 707 00:35:39,320 --> 00:35:41,120 Speaker 1: in the time of today, where everybody is thinking about 708 00:35:41,160 --> 00:35:44,000 Speaker 1: the common good, think about how bad this is for 709 00:35:44,040 --> 00:35:47,680 Speaker 1: the whole And that's why we need a new form 710 00:35:47,760 --> 00:35:51,520 Speaker 1: of money like bitcoin. This is what bitcoin fixes, one 711 00:35:51,560 --> 00:35:53,720 Speaker 1: of one of the millions of things the bitcoin fixes. 712 00:35:54,320 --> 00:35:58,200 Speaker 1: If you fix the money, you fix the world. And 713 00:35:58,200 --> 00:36:01,400 Speaker 1: that's why bitcoin is important. Hopefully that makes sense to you. 714 00:36:01,480 --> 00:36:04,400 Speaker 1: Like I said, this is one of any million of 715 00:36:04,560 --> 00:36:06,600 Speaker 1: the rabbit holes that we can dive down. But I 716 00:36:06,640 --> 00:36:08,920 Speaker 1: want to get back to where we started, which is 717 00:36:08,920 --> 00:36:13,000 Speaker 1: why people say that bitcoin is a waste of energy. Well, 718 00:36:13,480 --> 00:36:15,399 Speaker 1: video games could be a waste of energy. Watching YouTube 719 00:36:15,440 --> 00:36:17,160 Speaker 1: videos could be a waste of energy. Listening to me 720 00:36:17,280 --> 00:36:20,080 Speaker 1: might even be a waste of your energy. But if 721 00:36:20,120 --> 00:36:22,000 Speaker 1: we can create a money system that can fix the world, 722 00:36:22,040 --> 00:36:25,000 Speaker 1: that can fix the supply James, fix the economy, fix 723 00:36:25,080 --> 00:36:28,160 Speaker 1: the signal from the money. I say that's worth even 724 00:36:28,239 --> 00:36:31,000 Speaker 1: more energy than more spending. I say, let's spend more 725 00:36:31,160 --> 00:36:33,719 Speaker 1: energy to fix more of the world. And I say 726 00:36:33,760 --> 00:36:36,640 Speaker 1: we do that as fast as we possibly can. Fix 727 00:36:36,680 --> 00:36:38,279 Speaker 1: the money, fix the world. That's what bitcoin is doing. 728 00:36:39,360 --> 00:36:40,839 Speaker 1: By the way, if you're just tuning in, you're listening 729 00:36:40,880 --> 00:36:43,320 Speaker 1: to the Mark Moa show, we're talking about bitcoin. Of course, 730 00:36:43,880 --> 00:36:46,960 Speaker 1: we're talking about cryptocurrencies. We're talking about the decentralized revolution 731 00:36:47,000 --> 00:36:50,480 Speaker 1: that is happening right now, right before your eyes. It 732 00:36:50,560 --> 00:36:53,200 Speaker 1: will fix the world. It's your opportunity to get in 733 00:36:53,239 --> 00:36:56,400 Speaker 1: before the greatest wealth transfer happens. That's it. Thanks for listening.