1 00:00:00,160 --> 00:00:02,720 Speaker 1: Hey, everyone, welcome to the Mark mo Show, where I 2 00:00:02,800 --> 00:00:06,360 Speaker 1: am talking about bitcoin cryptocurrencies and we are talking about 3 00:00:06,400 --> 00:00:10,560 Speaker 1: the decentralized revolution. I'm trying to bring to you the 4 00:00:10,600 --> 00:00:12,920 Speaker 1: information that I would want to hear if I was 5 00:00:12,920 --> 00:00:14,640 Speaker 1: on the side of the table, because this is literally 6 00:00:14,640 --> 00:00:18,439 Speaker 1: the biggest opportunity of your life, multiple generations, and if 7 00:00:18,480 --> 00:00:20,400 Speaker 1: you want to take advantage of that opportunity, you have 8 00:00:20,480 --> 00:00:24,799 Speaker 1: to have the information that most people don't have. UM. 9 00:00:24,840 --> 00:00:27,560 Speaker 1: I'm joined by two of my really good friends here today. 10 00:00:27,600 --> 00:00:30,640 Speaker 1: I got Kyle Wonderley. I got the lovely Jessica van 11 00:00:30,800 --> 00:00:33,720 Speaker 1: She's back with us again. Always love her insight and 12 00:00:33,800 --> 00:00:36,720 Speaker 1: her smart wit. One of the smartest and maybe the 13 00:00:36,720 --> 00:00:39,680 Speaker 1: most beautiful girls online. So it's a lethal combination between 14 00:00:39,680 --> 00:00:42,080 Speaker 1: the two and my good friend Kyle. We talked about 15 00:00:42,120 --> 00:00:44,199 Speaker 1: this stuff for hours and hours and offline, and so 16 00:00:44,240 --> 00:00:46,480 Speaker 1: I thought maybe we would enjoy you guys would enjoy 17 00:00:46,520 --> 00:00:50,040 Speaker 1: hearing us talking about it together. So, uh, Kyle Wonderley 18 00:00:50,159 --> 00:00:54,200 Speaker 1: and Jessica Vom and what's up? I just wanted to 19 00:00:54,240 --> 00:00:56,319 Speaker 1: correct you for a second. You say we talk. I'm 20 00:00:56,320 --> 00:00:59,480 Speaker 1: gonna tell everybody that I spend of my time listening 21 00:00:59,560 --> 00:01:01,960 Speaker 1: with Mark Moss. I don't do as much talking as 22 00:01:02,000 --> 00:01:05,080 Speaker 1: I do with other people, and and and it's good 23 00:01:05,120 --> 00:01:06,760 Speaker 1: that way, and I like it that way. We'll keep it. 24 00:01:07,120 --> 00:01:09,679 Speaker 1: I I'm here to interrupt him and talk over him. 25 00:01:09,720 --> 00:01:14,160 Speaker 1: So um, I love to have it. So, Uh, Kyle 26 00:01:14,360 --> 00:01:18,080 Speaker 1: is at super rat Stuff on Twitter. That's underscore, super 27 00:01:18,120 --> 00:01:21,399 Speaker 1: Underscore rat Underscore Stuff. Underscore Kyle, you should change that name. 28 00:01:21,400 --> 00:01:23,320 Speaker 1: It's stupid and it's very hard to pronounce when I 29 00:01:23,360 --> 00:01:25,800 Speaker 1: have to spell it out for everybody. Uh. And Jessica, 30 00:01:25,920 --> 00:01:28,600 Speaker 1: she is at Jessica Vaughan. You can find her on 31 00:01:28,600 --> 00:01:32,600 Speaker 1: Twitter as well. And so you know, we're all avid bitcoiners. 32 00:01:32,640 --> 00:01:35,080 Speaker 1: We believe that this is a massive opportunity. We kind 33 00:01:35,080 --> 00:01:37,240 Speaker 1: of eat, sleep, and breathe. It kind of becomes a lifestyle. 34 00:01:37,720 --> 00:01:39,800 Speaker 1: I don't want to say a cult, but it does 35 00:01:39,840 --> 00:01:42,600 Speaker 1: become a lifestyle because it's literally changing the world right 36 00:01:42,600 --> 00:01:45,760 Speaker 1: before our very eyes. And it's really permanating like every 37 00:01:45,920 --> 00:01:49,960 Speaker 1: area of society, from the culture to the financial system 38 00:01:50,040 --> 00:01:52,440 Speaker 1: to the political system. I mean, you name it. It's 39 00:01:52,480 --> 00:01:55,240 Speaker 1: changing things. And uh, you know, one of the big 40 00:01:55,280 --> 00:02:00,200 Speaker 1: stories this week is that um, surprise, surprise, surprise, is 41 00:02:00,240 --> 00:02:03,960 Speaker 1: the government wants to come get more of your wealth. Um. 42 00:02:04,040 --> 00:02:06,520 Speaker 1: You know, when we get to a debt crisis like 43 00:02:06,560 --> 00:02:08,600 Speaker 1: we have today, at the end of a debt cycle, Uh, 44 00:02:08,639 --> 00:02:11,240 Speaker 1: there's really only four ways out of it. And so 45 00:02:11,360 --> 00:02:12,919 Speaker 1: one of those ways is the default on the debt, 46 00:02:12,919 --> 00:02:14,959 Speaker 1: and then I states can't really do that. Uh. Another 47 00:02:14,960 --> 00:02:16,400 Speaker 1: way to do that is to go in to austerity. 48 00:02:16,440 --> 00:02:17,880 Speaker 1: That means that they have to go to a budget, 49 00:02:18,120 --> 00:02:19,800 Speaker 1: and of course they don't want to do that. The 50 00:02:19,880 --> 00:02:22,520 Speaker 1: third way is they can raise taxes, but the problem 51 00:02:22,600 --> 00:02:25,119 Speaker 1: is there's only so much tax as they can raise 52 00:02:25,200 --> 00:02:27,400 Speaker 1: before there's a revolt. And then the fourth and final way, 53 00:02:27,400 --> 00:02:29,440 Speaker 1: which is the when they typically use, is to just 54 00:02:29,680 --> 00:02:31,400 Speaker 1: inflate their way out of it, which of course is 55 00:02:31,440 --> 00:02:34,520 Speaker 1: also taxation and theft um. And but they've they've kind 56 00:02:34,520 --> 00:02:36,240 Speaker 1: of got taxes about as high as they can go. 57 00:02:36,919 --> 00:02:39,960 Speaker 1: But what they've done is now they're going to tax 58 00:02:40,000 --> 00:02:42,200 Speaker 1: the rich. That sounds good because we all hate the rich, right, 59 00:02:42,680 --> 00:02:45,840 Speaker 1: we shouldn't we should we shouldn't be successful. And for 60 00:02:45,880 --> 00:02:47,799 Speaker 1: the first time ever, let me read you the story here. 61 00:02:47,840 --> 00:02:52,799 Speaker 1: Democrats proposed tax on unrealized capital gains and it potentially 62 00:02:53,000 --> 00:02:58,120 Speaker 1: is unconstitutional. Nancy Pelosi and for some reason, we have 63 00:02:58,320 --> 00:03:00,880 Speaker 1: Janet Yelling from the Treasury coming out talking about how 64 00:03:00,919 --> 00:03:03,919 Speaker 1: they want to tax unrealized capital gain. So let me 65 00:03:03,960 --> 00:03:05,880 Speaker 1: explain what this is and then we'll discuss it a 66 00:03:05,919 --> 00:03:09,959 Speaker 1: little bit. So basically, um, cap gains are investment income. 67 00:03:10,040 --> 00:03:12,680 Speaker 1: So I've earned my income, so I've earned income taxes 68 00:03:12,680 --> 00:03:14,880 Speaker 1: and have cap gains taxes. I've earned my income, and 69 00:03:14,880 --> 00:03:16,919 Speaker 1: I've had to pay tax on that income. After I've 70 00:03:16,919 --> 00:03:19,320 Speaker 1: paid taxes, that money is mine because I've given them 71 00:03:19,360 --> 00:03:21,760 Speaker 1: their their half um and with my half that I 72 00:03:21,800 --> 00:03:24,280 Speaker 1: get to keep. Thank you for the government. I invest it. 73 00:03:24,800 --> 00:03:27,760 Speaker 1: And when I invest that, hopefully it goes up in value. 74 00:03:27,800 --> 00:03:30,160 Speaker 1: I risk it. If not, it goes down um. But 75 00:03:30,960 --> 00:03:33,120 Speaker 1: the price of those assets like stocks could go up, 76 00:03:33,160 --> 00:03:34,760 Speaker 1: and it can go down up and down, up and down. 77 00:03:35,080 --> 00:03:38,000 Speaker 1: They want to tax my unrealized profits. So I haven't 78 00:03:38,000 --> 00:03:40,480 Speaker 1: sold it yet, I'm holding it, and they want to 79 00:03:40,520 --> 00:03:43,080 Speaker 1: take that money from me. So I've already paid tax. 80 00:03:43,280 --> 00:03:45,080 Speaker 1: I shouldn't have to pay tax again. In my opinion, 81 00:03:45,440 --> 00:03:47,520 Speaker 1: it goes up hopefully if I'm lucky. I took that 82 00:03:47,640 --> 00:03:50,960 Speaker 1: risk um, and then they want to tax it, which 83 00:03:51,080 --> 00:03:54,160 Speaker 1: is just insane to me. And of course at this point, 84 00:03:54,160 --> 00:03:57,680 Speaker 1: they're only going to tax the rich. Now, Biden says 85 00:03:57,680 --> 00:04:00,000 Speaker 1: they wouldn't. They was gonna raise taxes, but it wouldn't 86 00:04:00,040 --> 00:04:02,360 Speaker 1: raised taxes except for the rich, which was he defined 87 00:04:02,400 --> 00:04:05,320 Speaker 1: as over four hundred thousand dollars, which isn't that rich. Um, 88 00:04:05,360 --> 00:04:07,200 Speaker 1: Today they're starting to seem like they want to go 89 00:04:07,240 --> 00:04:10,360 Speaker 1: after the billionaires. They want to billion villain villain I 90 00:04:10,480 --> 00:04:15,960 Speaker 1: is the billionaires? Is this like another form of identity politics, Jessica. Um, Well, 91 00:04:16,120 --> 00:04:18,360 Speaker 1: they like to go with the whole billionaires, and then 92 00:04:18,360 --> 00:04:20,400 Speaker 1: it moves to the millionaires, and then it's anybody with 93 00:04:20,440 --> 00:04:24,400 Speaker 1: a six figure income. So really it's just about how 94 00:04:24,440 --> 00:04:27,719 Speaker 1: can we get the masses to get behind demonizing a 95 00:04:27,720 --> 00:04:30,320 Speaker 1: group of people because um, it's it's really just a 96 00:04:30,320 --> 00:04:34,640 Speaker 1: way to disguise government confiscation of personal property because uh, 97 00:04:34,680 --> 00:04:37,840 Speaker 1: intrinsically these people don't believe in personal property? Is it? 98 00:04:37,880 --> 00:04:40,839 Speaker 1: Because um if it's almost like they're trying to get 99 00:04:40,839 --> 00:04:43,040 Speaker 1: the people to turn on the rich people, because then 100 00:04:43,040 --> 00:04:44,960 Speaker 1: it's like not the government so much, it's like the 101 00:04:45,000 --> 00:04:47,760 Speaker 1: people want it, and then we all forfeit our privacy 102 00:04:47,800 --> 00:04:50,360 Speaker 1: and the process and nobody thinks about, you know, throwing 103 00:04:50,360 --> 00:04:51,920 Speaker 1: the baby out with the bathwater on that and how 104 00:04:51,920 --> 00:04:56,640 Speaker 1: it might negatively consequent ourselves. And it doesn't take government long. 105 00:04:56,960 --> 00:05:00,359 Speaker 1: It starts as something that's only designed for you know, 106 00:05:00,400 --> 00:05:03,599 Speaker 1: the billionaires, and then it of course goes down descents 107 00:05:03,640 --> 00:05:06,360 Speaker 1: into everyday culture from from there and it doesn't even 108 00:05:06,360 --> 00:05:08,839 Speaker 1: take a decade. Well they've got eight years until, you know. 109 00:05:10,400 --> 00:05:13,360 Speaker 1: So I think they're going to aggressively move in on 110 00:05:13,400 --> 00:05:15,400 Speaker 1: these things and the crowd will cheer it on. And 111 00:05:15,400 --> 00:05:19,279 Speaker 1: that's what's concerning the crowd. So like the tyranny of 112 00:05:19,320 --> 00:05:22,400 Speaker 1: the mob. Right, So like democracy, meaning that they're the 113 00:05:22,440 --> 00:05:25,520 Speaker 1: majority of democracy, they're they're always going to vote for 114 00:05:25,560 --> 00:05:30,960 Speaker 1: more of your money if they're given the choice of Right, 115 00:05:31,520 --> 00:05:33,480 Speaker 1: are the people rallying on the streets? I mean, those 116 00:05:33,480 --> 00:05:36,840 Speaker 1: are the masses. That's that's the mob, And there's you know, 117 00:05:37,160 --> 00:05:39,039 Speaker 1: we have a lot of wealth in the in the 118 00:05:39,080 --> 00:05:42,279 Speaker 1: select hands of a few, So you're right, I don't know, 119 00:05:42,920 --> 00:05:45,040 Speaker 1: and it's a deterrent to trying to want to get 120 00:05:45,080 --> 00:05:49,039 Speaker 1: rich though you know, you have these protections. But when 121 00:05:49,080 --> 00:05:52,000 Speaker 1: you deviate half of the culture away from the idea 122 00:05:52,080 --> 00:05:55,599 Speaker 1: of individual liberties and individual rights, and then of course 123 00:05:55,920 --> 00:06:00,760 Speaker 1: then you bully attorneys and judges and juries where they 124 00:06:00,800 --> 00:06:06,799 Speaker 1: can't defend the Constitution because um cultures eradicated the ability 125 00:06:06,880 --> 00:06:10,920 Speaker 1: to just stand for what the Constitution protects individual rights. 126 00:06:11,240 --> 00:06:13,480 Speaker 1: What once we do that, I mean, what there if 127 00:06:13,480 --> 00:06:15,960 Speaker 1: there's nobody there to defend it, do we really have 128 00:06:16,080 --> 00:06:19,400 Speaker 1: constitutional protections? I like what Kyle said right where it's 129 00:06:19,400 --> 00:06:21,039 Speaker 1: like it kind of takes away the incentive to to 130 00:06:21,160 --> 00:06:22,880 Speaker 1: get rich or to make money. And I'd like to 131 00:06:22,920 --> 00:06:24,799 Speaker 1: try to think about and I think in the context 132 00:06:24,839 --> 00:06:27,320 Speaker 1: if we think about like the incentive structure, and so 133 00:06:27,560 --> 00:06:29,040 Speaker 1: I already had to pay tax on the money I 134 00:06:29,080 --> 00:06:31,400 Speaker 1: earned it, I pay tax on it, and now I 135 00:06:31,480 --> 00:06:33,960 Speaker 1: have to go risk it. Should I risk it or 136 00:06:34,000 --> 00:06:35,560 Speaker 1: should I sit on it? Well, if I risk it 137 00:06:35,600 --> 00:06:39,320 Speaker 1: and they're gonna take my unrealized wealth, maybe I don't 138 00:06:39,360 --> 00:06:41,520 Speaker 1: want to risk it. Maybe it's not worth the risk now. 139 00:06:41,839 --> 00:06:44,160 Speaker 1: And so it changes that incentive structure. And then you know, 140 00:06:44,240 --> 00:06:46,360 Speaker 1: Charlie Monger says, show me the incentive, show me the outcome, 141 00:06:46,920 --> 00:06:48,840 Speaker 1: and like, how does that like, how is the outcome 142 00:06:48,880 --> 00:06:52,839 Speaker 1: going to be different if we shift that incentive structure? Yeah, 143 00:06:52,880 --> 00:06:56,360 Speaker 1: I mean, and they're doing away with compound interest, really, right, 144 00:06:56,440 --> 00:07:00,360 Speaker 1: I mean, so I was born with the idea we 145 00:07:00,560 --> 00:07:02,880 Speaker 1: were I mean, we're we're all basically the same age here. 146 00:07:03,080 --> 00:07:06,599 Speaker 1: We you know, the reason that you invest, the reason 147 00:07:06,680 --> 00:07:09,159 Speaker 1: you start when you're young, the reason you take risks 148 00:07:09,160 --> 00:07:11,040 Speaker 1: at a young age is because you know your money 149 00:07:11,040 --> 00:07:15,480 Speaker 1: can compound over time. But this way of you know, 150 00:07:15,560 --> 00:07:19,720 Speaker 1: taxing unrealized gains just takes away the incentive for even 151 00:07:19,760 --> 00:07:21,760 Speaker 1: in yeah, for even taking a step toward investing, because 152 00:07:21,760 --> 00:07:24,080 Speaker 1: you know the max you can make each year is 153 00:07:24,080 --> 00:07:26,040 Speaker 1: only half of you know, whatever the tax trek is 154 00:07:26,080 --> 00:07:28,440 Speaker 1: going to be for your unrolls realized gains. I don't know, 155 00:07:28,520 --> 00:07:31,760 Speaker 1: but um, it's definitely it's definitely putting a huge damper 156 00:07:31,840 --> 00:07:37,200 Speaker 1: on on compound interest. Let's look at a real example 157 00:07:37,200 --> 00:07:39,680 Speaker 1: and see how idiotic this could be, or actually how 158 00:07:39,760 --> 00:07:41,640 Speaker 1: dangerous this could be. So let's look at bitcoin. Since 159 00:07:41,680 --> 00:07:44,320 Speaker 1: we're here obviously talking about bitcoin, so most people know 160 00:07:44,440 --> 00:07:46,480 Speaker 1: that we just this week broke a new all time 161 00:07:46,560 --> 00:07:50,920 Speaker 1: high congratulates, which was previously set like in May. But 162 00:07:50,960 --> 00:07:54,440 Speaker 1: the last all time high was in December eighteenth of 163 00:07:54,520 --> 00:07:57,920 Speaker 1: two thousand seventeen, and it reached a peak of about 164 00:07:58,000 --> 00:08:00,560 Speaker 1: twenty tho dollars. So that's the end of the tax. 165 00:08:00,600 --> 00:08:05,480 Speaker 1: Here December seventeen, it was it was twenty dollars, and 166 00:08:05,520 --> 00:08:08,040 Speaker 1: so the tax your closes and now that's unrealized. I 167 00:08:08,040 --> 00:08:10,400 Speaker 1: haven't sold it, but I have to pay tax on that. 168 00:08:10,480 --> 00:08:13,920 Speaker 1: And then over the next couple of months bitcoin dropped 169 00:08:14,080 --> 00:08:18,040 Speaker 1: down to three thousand dollars by by uh, you know, 170 00:08:18,080 --> 00:08:20,720 Speaker 1: throughout December. Team. So when the next tax bills do 171 00:08:21,120 --> 00:08:23,800 Speaker 1: instead of I'm paying tax on twenty which I never realized, 172 00:08:24,600 --> 00:08:26,520 Speaker 1: and now the assets only worth three thousand, and I 173 00:08:26,520 --> 00:08:28,560 Speaker 1: have to pay tax on the twenty tho, Like, how 174 00:08:28,560 --> 00:08:32,960 Speaker 1: does that work? This administration wants to disincentivize savings because 175 00:08:33,000 --> 00:08:37,400 Speaker 1: innately their um their economic position. Their theory is is 176 00:08:37,440 --> 00:08:39,800 Speaker 1: that if if you are storing the wealth and you're 177 00:08:39,840 --> 00:08:44,240 Speaker 1: not putting it back into the economy, which is you know, 178 00:08:44,400 --> 00:08:49,880 Speaker 1: that's what they attribute their not being enough economic activity. Yeah, alright, 179 00:08:49,920 --> 00:08:53,400 Speaker 1: so we're gonna talk more about how insane this policy is, 180 00:08:53,400 --> 00:08:56,480 Speaker 1: but we want to transition this to actually talk about 181 00:08:56,920 --> 00:08:59,000 Speaker 1: how we can protect ourselves from this. But even more 182 00:08:59,040 --> 00:09:01,320 Speaker 1: than just protecting ourselves from this, as I was kind 183 00:09:01,320 --> 00:09:04,800 Speaker 1: of hinting to before changing the incentive structure, because if 184 00:09:04,800 --> 00:09:07,559 Speaker 1: we changing the CenTra structure, we totally change the outcome. 185 00:09:07,600 --> 00:09:09,520 Speaker 1: We're gonna talk about that. We're gonna talk about more 186 00:09:09,679 --> 00:09:11,520 Speaker 1: when we come back. You're listening to the Mark mo Show. 187 00:09:11,520 --> 00:09:14,880 Speaker 1: We're talking about bitcoin, cryptocurrencies in the Decentralized Revolution, and 188 00:09:14,920 --> 00:09:17,640 Speaker 1: we will be right back. All right, welcome back. You 189 00:09:17,640 --> 00:09:20,160 Speaker 1: were listening to Mark Moss Show. We're talking about bitcoin 190 00:09:20,200 --> 00:09:23,880 Speaker 1: and cryptocurrencies and the decentralized Revolution, bringing you the information 191 00:09:23,920 --> 00:09:26,480 Speaker 1: you need each and every week to navigate this correctly. 192 00:09:26,520 --> 00:09:29,360 Speaker 1: It is going to be the largest opportunity you'll ever 193 00:09:29,440 --> 00:09:32,319 Speaker 1: have in your life. I'm joined in the studio by 194 00:09:32,360 --> 00:09:34,720 Speaker 1: two of my really good friends. Of course, I got 195 00:09:34,960 --> 00:09:37,080 Speaker 1: the lovely Jessica van who's back with us again. Find 196 00:09:37,080 --> 00:09:40,160 Speaker 1: her on Twitter at Jessica Vaughan. And I got Kyle Wonderley, 197 00:09:40,360 --> 00:09:43,079 Speaker 1: who has this really long, weird Twitter name that I 198 00:09:43,120 --> 00:09:45,079 Speaker 1: it's just too long to say. It's a super rad 199 00:09:45,080 --> 00:09:47,319 Speaker 1: stuff with some underscores, and their Kyle changed that next time. 200 00:09:49,120 --> 00:09:50,560 Speaker 1: What would be just as hard to say my name 201 00:09:50,640 --> 00:09:52,880 Speaker 1: Kyle Wonderley. That nobody ever gets the spelling right on 202 00:09:52,880 --> 00:09:56,360 Speaker 1: that either, So can you spell super rad stuff? That's 203 00:09:56,360 --> 00:09:58,520 Speaker 1: what it is? You should just you should just be 204 00:09:58,640 --> 00:10:02,920 Speaker 1: Kyle Wonder. Okay, yeah, but but then they're gonna spell 205 00:10:02,960 --> 00:10:05,320 Speaker 1: it w O N d e R and that would 206 00:10:05,320 --> 00:10:07,000 Speaker 1: be a disgrace to my last name, which is w 207 00:10:07,320 --> 00:10:12,280 Speaker 1: U N D yes. Anyway, So before we took a break, 208 00:10:12,600 --> 00:10:15,559 Speaker 1: we were talking about how the FED wants to tax 209 00:10:15,840 --> 00:10:17,040 Speaker 1: or that actually say the I R s once the 210 00:10:17,160 --> 00:10:20,480 Speaker 1: tax are unrealized capital gains and how crazy that is. 211 00:10:21,120 --> 00:10:23,800 Speaker 1: I gave this just a quicker story is like, let's 212 00:10:23,800 --> 00:10:26,000 Speaker 1: say your house is worth two hundred dollars, the Fed 213 00:10:26,040 --> 00:10:27,840 Speaker 1: prints a lot of money. Your house is now worth 214 00:10:27,840 --> 00:10:30,640 Speaker 1: four hundred thousand dollars, So you have two thousand of 215 00:10:30,760 --> 00:10:32,920 Speaker 1: unrealized gains because you wouldn't realize that. Tell you sell 216 00:10:32,920 --> 00:10:35,040 Speaker 1: the house, right, but guess what, you don't have that 217 00:10:35,120 --> 00:10:37,920 Speaker 1: kind of cash to cover that. So I guess what? 218 00:10:38,000 --> 00:10:39,840 Speaker 1: Blackrock buys your house at auction for pennies on the 219 00:10:39,880 --> 00:10:43,560 Speaker 1: dollar and now you're renting the house. Um, it's one 220 00:10:43,600 --> 00:10:47,080 Speaker 1: possible scenario. And just you kind of illustate how hassanine 221 00:10:47,360 --> 00:10:50,080 Speaker 1: this type of a policy is you are taking more 222 00:10:50,120 --> 00:10:53,480 Speaker 1: loans out right just to pay your taxes, taking an 223 00:10:53,480 --> 00:10:55,280 Speaker 1: equity line out of your house to pay the taxes 224 00:10:55,280 --> 00:10:58,599 Speaker 1: on it. Well, it's an it's an attack on generational 225 00:10:58,640 --> 00:11:01,920 Speaker 1: wealth because they feel like that contributes to some sort 226 00:11:01,920 --> 00:11:05,520 Speaker 1: of like inequality in America, so they want to eradicate that. 227 00:11:06,200 --> 00:11:09,480 Speaker 1: And do we know anything more about this policy other 228 00:11:09,520 --> 00:11:12,520 Speaker 1: than the fact that they want to tax unreal unrealized 229 00:11:12,559 --> 00:11:14,520 Speaker 1: gains or do the Is it going to be like 230 00:11:14,559 --> 00:11:19,080 Speaker 1: a quarterly or an annual thing? Do we know any details? Yeah, 231 00:11:19,080 --> 00:11:20,960 Speaker 1: we don't. We don't know a lot right now from 232 00:11:20,960 --> 00:11:22,760 Speaker 1: what I heard. I mean, they talked. They said they said, 233 00:11:22,800 --> 00:11:24,680 Speaker 1: first of all, it would be on liquid assets, so 234 00:11:24,720 --> 00:11:27,400 Speaker 1: I don't think a house would really apply. Um, so 235 00:11:27,440 --> 00:11:28,880 Speaker 1: it's gonna be on liquid assets, so I think it 236 00:11:28,880 --> 00:11:31,559 Speaker 1: would be on stocks. I think cryptocurrencies are going to 237 00:11:31,640 --> 00:11:32,880 Speaker 1: be a big piece that they're gonna want to come 238 00:11:32,920 --> 00:11:36,200 Speaker 1: after that. Do you think that this coming policy is 239 00:11:36,240 --> 00:11:41,240 Speaker 1: one reason why they're behind bitcoin being an asset and 240 00:11:41,240 --> 00:11:45,760 Speaker 1: not a monetary system. Yeah, So technically bitcoin is an asset. 241 00:11:45,760 --> 00:11:48,760 Speaker 1: It's a commodity as opposed to a financial instrument, which 242 00:11:48,760 --> 00:11:51,520 Speaker 1: wouldn't be so in an el savador for example. Um, 243 00:11:51,520 --> 00:11:54,120 Speaker 1: it's a currency, so there's not a taxable exchange when 244 00:11:54,160 --> 00:11:57,200 Speaker 1: you use it, but here it is. Um. You know, 245 00:11:57,440 --> 00:11:59,840 Speaker 1: we'll see how this shakes out there is Uh, there's 246 00:11:59,880 --> 00:12:02,240 Speaker 1: aready there's already lawsuits that are being filed, right. They 247 00:12:02,440 --> 00:12:05,360 Speaker 1: want to they want to fight this. They say it's unconstitutional. Um, 248 00:12:05,440 --> 00:12:08,360 Speaker 1: So we'll see where that shakes out. Um. But I 249 00:12:08,400 --> 00:12:10,079 Speaker 1: think kind of like we were talking about before the break, 250 00:12:10,320 --> 00:12:13,760 Speaker 1: if they can demon demons or vilify these rich people 251 00:12:13,800 --> 00:12:16,120 Speaker 1: and get them to get the sentiment to move against 252 00:12:16,200 --> 00:12:19,520 Speaker 1: them through a through a democracy of of tyranny of 253 00:12:19,559 --> 00:12:22,200 Speaker 1: the minority, right, Uh, then if they can do that, 254 00:12:22,240 --> 00:12:24,080 Speaker 1: they could probably win. And at least in the public 255 00:12:24,160 --> 00:12:27,679 Speaker 1: court of opinion. That's the message they're sending, even if 256 00:12:27,720 --> 00:12:30,720 Speaker 1: it doesn't get approved. You know, the message is out 257 00:12:30,720 --> 00:12:34,480 Speaker 1: there now. That's that's the direction they're headed. Is an 258 00:12:34,480 --> 00:12:38,319 Speaker 1: executive order, so fun they don't even need to have, um, 259 00:12:38,360 --> 00:12:43,840 Speaker 1: you know, the approval of the mom Uh. Yeah. Well, 260 00:12:43,880 --> 00:12:47,160 Speaker 1: and there's even more coming, which uh I know Kyle 261 00:12:47,200 --> 00:12:49,080 Speaker 1: and Jesco was kind of talking about with both of 262 00:12:49,120 --> 00:12:52,439 Speaker 1: you offline, which maybe we can dip into it a a 263 00:12:52,520 --> 00:12:57,000 Speaker 1: little bit. I want to which is a Biden and 264 00:12:57,120 --> 00:12:59,839 Speaker 1: Jen Psaki and being the mouthpiece for Biden's talking about 265 00:12:59,840 --> 00:13:04,959 Speaker 1: a fundamental change to the economy. And I'm saying, if 266 00:13:04,960 --> 00:13:06,760 Speaker 1: you could watch me here on the on the radio, 267 00:13:06,800 --> 00:13:08,400 Speaker 1: I know you can't, but I'm putting up air quotes 268 00:13:08,440 --> 00:13:12,080 Speaker 1: a fundamental change to the economy. Now where have we 269 00:13:12,160 --> 00:13:16,240 Speaker 1: heard the fundamental change? Where where did that first come in? Well, 270 00:13:16,360 --> 00:13:17,720 Speaker 1: if you have a good memory, or if you're old 271 00:13:17,840 --> 00:13:21,160 Speaker 1: enough to remember, that was two thousand twelve, our good 272 00:13:21,160 --> 00:13:24,240 Speaker 1: old buddy Obama came in and promised on his campaign 273 00:13:24,280 --> 00:13:28,559 Speaker 1: trial that he would fundamentally change America. Now what does 274 00:13:28,600 --> 00:13:34,040 Speaker 1: that mean? Fundamentally change the foundation as in the culture, 275 00:13:34,480 --> 00:13:39,320 Speaker 1: the values, the principles, everything. And so now we're hearing 276 00:13:39,400 --> 00:13:42,480 Speaker 1: the vice president, who would be a quote transitional candidate 277 00:13:42,520 --> 00:13:46,000 Speaker 1: to come yeah. Yeah, And so they're talking about a 278 00:13:46,000 --> 00:13:50,560 Speaker 1: fundamental change the economy and uh, basically what we have. 279 00:13:50,720 --> 00:13:53,440 Speaker 1: And so we've seen Jen Psaki saying this. I have 280 00:13:53,480 --> 00:13:55,319 Speaker 1: this video clip. I can't play it obviously here we're 281 00:13:55,320 --> 00:13:57,360 Speaker 1: on video, but I'm gonna read a quote the press. 282 00:13:57,440 --> 00:13:59,480 Speaker 1: This is Jen Ssaki talking at a White House pressor. 283 00:13:59,760 --> 00:14:03,040 Speaker 1: The President wants to make fundamental change in our economy 284 00:14:03,280 --> 00:14:06,080 Speaker 1: and he feels, coming out of the pandemic is exactly 285 00:14:06,240 --> 00:14:11,360 Speaker 1: the time to do that. Oh what what's that about. 286 00:14:11,440 --> 00:14:14,559 Speaker 1: Don't let a crisis go to waste? Right, Yeah, well 287 00:14:14,559 --> 00:14:18,200 Speaker 1: now that the moral high ground to just do whatever 288 00:14:18,240 --> 00:14:22,080 Speaker 1: they want with no accountability. So yeah, yeah, and they've 289 00:14:22,080 --> 00:14:25,280 Speaker 1: got mass they've got mass compliance. Kick us while we're down, 290 00:14:25,600 --> 00:14:29,480 Speaker 1: you know. Uh, we're all freaked out to travel right 291 00:14:29,560 --> 00:14:33,080 Speaker 1: right now, We're all freaked out to go anywhere. Social distancing, 292 00:14:33,120 --> 00:14:35,120 Speaker 1: I mean, there's so much fear in the market right now. 293 00:14:36,000 --> 00:14:37,880 Speaker 1: Now is the time. Yeah, there was ever a time 294 00:14:37,880 --> 00:14:41,440 Speaker 1: to do it, be now. You know. So you've heard 295 00:14:41,480 --> 00:14:45,320 Speaker 1: this talk about this fed coin, a central bank digital 296 00:14:45,360 --> 00:14:48,960 Speaker 1: currency coming UM and uh, the head of the o 297 00:14:49,160 --> 00:14:51,360 Speaker 1: c C, the Office of the Compatroller, the one that 298 00:14:51,440 --> 00:14:54,200 Speaker 1: runs the currency UM used to be pushing this forward. 299 00:14:54,240 --> 00:14:56,720 Speaker 1: And now President Biden gets to elect a new one, 300 00:14:57,040 --> 00:15:01,440 Speaker 1: and he's nominated somebody to come take over that position. UM. 301 00:15:01,960 --> 00:15:06,360 Speaker 1: A lady, a wonderful lady who's an actual communist, a 302 00:15:06,360 --> 00:15:11,520 Speaker 1: self proclaimed radical UM professor Salamarova. And when I say 303 00:15:11,520 --> 00:15:14,120 Speaker 1: an actual communist, I don't mean that as in like 304 00:15:14,520 --> 00:15:18,160 Speaker 1: cardcare and communists. I mean actually graduated from Soviet Union's 305 00:15:18,200 --> 00:15:21,640 Speaker 1: Moscow State University in nine and was on the lenin 306 00:15:21,800 --> 00:15:26,000 Speaker 1: Personal Academic scholarship. I mean an actual UM, I mean 307 00:15:25,960 --> 00:15:29,560 Speaker 1: an actual communist. She she praised the USSRS economic system 308 00:15:29,600 --> 00:15:34,680 Speaker 1: as quote some ways superior to our own, and she said, 309 00:15:34,760 --> 00:15:38,600 Speaker 1: quote the market doesn't always know best. So I guess 310 00:15:38,640 --> 00:15:41,560 Speaker 1: a couple of guys in in bureaucracy do. And she's 311 00:15:41,640 --> 00:15:46,680 Speaker 1: proposed something that has a relationship to bitcoin that I 312 00:15:46,720 --> 00:15:49,800 Speaker 1: think that everybody needs to know about UM and it's 313 00:15:49,880 --> 00:15:54,880 Speaker 1: part of the fundamental change to the economy and to 314 00:15:55,000 --> 00:15:57,480 Speaker 1: the banking system and to the FED poin you guys 315 00:15:57,520 --> 00:16:00,920 Speaker 1: heard about this, do you guys know what I'm teasing? Dude, 316 00:16:00,920 --> 00:16:05,960 Speaker 1: you've been telling me about the CBDC since that's the 317 00:16:05,960 --> 00:16:08,160 Speaker 1: first I've heard about it was you know, you sounded 318 00:16:08,200 --> 00:16:11,120 Speaker 1: like a conspiracy theorist about five years ago, and now 319 00:16:11,160 --> 00:16:16,040 Speaker 1: here we are reading it in the mainstream news. So scary. 320 00:16:16,680 --> 00:16:19,720 Speaker 1: It's all a conspiracy until Ustart's going through. That was 321 00:16:19,760 --> 00:16:22,680 Speaker 1: before the intentional assassination of the US dollars. So I 322 00:16:22,680 --> 00:16:26,040 Speaker 1: feel like they're paving the pathway to get to their 323 00:16:26,160 --> 00:16:29,320 Speaker 1: fed coin for people to, you know, because what if 324 00:16:29,320 --> 00:16:30,720 Speaker 1: we all go to the banks and try to pull 325 00:16:30,720 --> 00:16:32,600 Speaker 1: out our cash all at once, all these things, like 326 00:16:33,360 --> 00:16:35,080 Speaker 1: what are they gonna do. They're gonna come rescue us 327 00:16:35,080 --> 00:16:37,359 Speaker 1: with a fed coin, because that's what they're trying to 328 00:16:37,400 --> 00:16:41,240 Speaker 1: get us too. Anyway. Yeah, so what's interesting about that, 329 00:16:41,920 --> 00:16:45,760 Speaker 1: UM is well, they're actually they're proposing something that pushes 330 00:16:45,800 --> 00:16:49,920 Speaker 1: the central bank digital currency and could actually eliminate something 331 00:16:50,000 --> 00:16:53,600 Speaker 1: like exactly what Jessica just proposed. I want to tell 332 00:16:53,640 --> 00:16:55,720 Speaker 1: you about that as soon as we get back, because 333 00:16:55,720 --> 00:16:58,080 Speaker 1: this is big news. I think it's big for bitcoin especially, 334 00:16:58,080 --> 00:17:00,720 Speaker 1: but it's also important because if you care about your wealth, 335 00:17:01,040 --> 00:17:03,480 Speaker 1: you need to know. But uh, they want to they 336 00:17:03,520 --> 00:17:06,240 Speaker 1: want to eliminate that possibility of happening. I've often been saying, 337 00:17:06,320 --> 00:17:08,399 Speaker 1: and actually we saw do you guys remember when the 338 00:17:08,960 --> 00:17:11,520 Speaker 1: U during the election. Every time every time Obama Obama's 339 00:17:11,520 --> 00:17:14,760 Speaker 1: election cycle pops up, we see the rise of BLM. 340 00:17:14,800 --> 00:17:19,960 Speaker 1: And BLM was saying that, hey, a better revolution, a 341 00:17:19,960 --> 00:17:22,080 Speaker 1: better protest, would be to go pull your money out 342 00:17:22,160 --> 00:17:24,520 Speaker 1: of the bank. And I've often saying, I mean, there's 343 00:17:24,560 --> 00:17:26,880 Speaker 1: millions of people marching all around the world right now, 344 00:17:26,960 --> 00:17:30,280 Speaker 1: this very second today, and would be more important than 345 00:17:30,280 --> 00:17:31,919 Speaker 1: going out and marching would be just go pull your 346 00:17:31,920 --> 00:17:34,160 Speaker 1: money out of the bank. But they want to stop 347 00:17:34,200 --> 00:17:37,120 Speaker 1: that from happening. I want to talk about what they're 348 00:17:37,160 --> 00:17:39,359 Speaker 1: trying to do, what she is specifically doing. I I 349 00:17:39,400 --> 00:17:41,160 Speaker 1: have a quote from her that I'm gonna read that's 350 00:17:41,160 --> 00:17:43,480 Speaker 1: gonna shock you. I'm gonna say this quote. It's gonna 351 00:17:43,480 --> 00:17:45,200 Speaker 1: shock you as soon as I get back. You're listening 352 00:17:45,240 --> 00:17:48,159 Speaker 1: to the Mark Mo Show. We're talking about bitcoin, cryptocurrencies, 353 00:17:48,160 --> 00:17:50,840 Speaker 1: the decentralized revolution, and what the government's doing to try 354 00:17:50,840 --> 00:17:53,600 Speaker 1: to push adoption. I'll be right back, all right, everyone, 355 00:17:53,640 --> 00:17:55,560 Speaker 1: welcome back. You are listening to the Mark Mo Show, 356 00:17:55,600 --> 00:17:59,680 Speaker 1: and we're talking about bitcoin, cryptocurrencies and the decentralized revolution. 357 00:17:59,720 --> 00:18:01,040 Speaker 1: And I aways say it all the time, and I'm 358 00:18:01,040 --> 00:18:02,679 Speaker 1: sorry if you hear it all the time, but this 359 00:18:02,760 --> 00:18:05,000 Speaker 1: is the biggest opportunity that you'll ever have in your life. 360 00:18:05,240 --> 00:18:07,200 Speaker 1: Do not miss it. Tune in each and every week 361 00:18:07,240 --> 00:18:09,119 Speaker 1: so you can get the information you need to take 362 00:18:09,119 --> 00:18:11,239 Speaker 1: advantage of this. I am in the studio with two 363 00:18:11,280 --> 00:18:13,560 Speaker 1: of my really good friends right now, Kyle Wonderley and 364 00:18:13,680 --> 00:18:17,080 Speaker 1: Jessica Van. You can find Jessica and on Twitter at 365 00:18:17,160 --> 00:18:20,240 Speaker 1: Jessica Vaughan. And of course Kyle is uh something really 366 00:18:20,280 --> 00:18:23,800 Speaker 1: long and hard to say. Red stuff with super red 367 00:18:23,840 --> 00:18:26,520 Speaker 1: stuff with underscores in between the words and and of 368 00:18:26,520 --> 00:18:28,840 Speaker 1: course I am one Mark Moss. Just the number one 369 00:18:28,880 --> 00:18:30,879 Speaker 1: Mark Moss. Send us a message, say you heard us 370 00:18:30,920 --> 00:18:35,719 Speaker 1: on the radio. We are talking about Biden's new UM 371 00:18:35,720 --> 00:18:39,840 Speaker 1: pick for the controller of the currency. She's a literal communist, 372 00:18:39,840 --> 00:18:42,399 Speaker 1: meaning she's actually from Russia, She's not from the United States. 373 00:18:42,800 --> 00:18:46,120 Speaker 1: Um And she said that the U S s rs, 374 00:18:46,520 --> 00:18:50,320 Speaker 1: the U S s are the communist Russia. Their economy 375 00:18:50,400 --> 00:18:53,640 Speaker 1: was better than ours America. And in her own words, 376 00:18:53,640 --> 00:18:56,439 Speaker 1: I'm gonna give you a quote here. The core idea 377 00:18:56,560 --> 00:18:59,679 Speaker 1: this is a quote. The core idea here is allow 378 00:18:59,800 --> 00:19:03,960 Speaker 1: a US citizens and lawful residents, local governments, not making firms, etcetera, 379 00:19:04,200 --> 00:19:10,560 Speaker 1: to open transactional accounts directly with the Federal Reserve. What wait, 380 00:19:11,240 --> 00:19:14,199 Speaker 1: citizens open banks directly with the federal Reserve. Let me 381 00:19:14,320 --> 00:19:20,400 Speaker 1: let me continue thus bypassing private depository institutions. So she's 382 00:19:20,400 --> 00:19:23,800 Speaker 1: talking about an eliminating banks as we know it. Let 383 00:19:23,800 --> 00:19:26,960 Speaker 1: me go on. She said. This is a variation on 384 00:19:27,000 --> 00:19:30,040 Speaker 1: the familiar FED accounts or the FED coin or the 385 00:19:30,080 --> 00:19:34,280 Speaker 1: digital wall digital dollar wallets. FED accounts can be made 386 00:19:34,280 --> 00:19:37,600 Speaker 1: available as an alternative to bank deposit accounts. So what 387 00:19:37,720 --> 00:19:41,160 Speaker 1: she's saying is well, in her own words, by passing 388 00:19:41,200 --> 00:19:44,679 Speaker 1: private depository institutions. So basically, the Federal Reserve gives deposits 389 00:19:44,720 --> 00:19:47,560 Speaker 1: to the banks, the bank's loan money into existence. She 390 00:19:47,640 --> 00:19:51,199 Speaker 1: wants to eliminate that, and we would have deposits directly 391 00:19:51,240 --> 00:19:54,040 Speaker 1: with the Federal Reserve. And so, as I think Jessica 392 00:19:54,160 --> 00:19:56,399 Speaker 1: was talking about earlier, we could just go pull our 393 00:19:56,440 --> 00:19:58,639 Speaker 1: money out of the banks. But if we don't actually 394 00:19:58,680 --> 00:20:00,399 Speaker 1: have money to pull out the banks, we literally just 395 00:20:00,400 --> 00:20:04,119 Speaker 1: have a credit, a digital credit on the Federal Reserves ledger. 396 00:20:05,000 --> 00:20:07,560 Speaker 1: They just block your chap. I mean, it's just a credit. 397 00:20:07,600 --> 00:20:09,479 Speaker 1: What are you gonna do? Are you gonna put your 398 00:20:09,480 --> 00:20:12,640 Speaker 1: money out of the bank? Yes, yeah, that's why, uh 399 00:20:12,920 --> 00:20:15,199 Speaker 1: you know, And I bought bitcoin to have a um 400 00:20:15,440 --> 00:20:18,359 Speaker 1: to participate in a parallel economy that I think is 401 00:20:18,400 --> 00:20:22,159 Speaker 1: going to develop as more and more people are removed 402 00:20:22,720 --> 00:20:27,840 Speaker 1: from the financial in the financial um, the banking system, 403 00:20:27,880 --> 00:20:30,040 Speaker 1: I suppose, you know. And there's a lot of people 404 00:20:30,080 --> 00:20:32,560 Speaker 1: like that in the world already that are unbanked. So 405 00:20:32,680 --> 00:20:37,199 Speaker 1: bitcoin provides an opportunity to uh not play these people's 406 00:20:37,240 --> 00:20:42,040 Speaker 1: games when it's innately goes against my morals. Patro dollar 407 00:20:42,160 --> 00:20:45,880 Speaker 1: goes against my morals and beliefs. Yeah. I guess if 408 00:20:45,880 --> 00:20:48,000 Speaker 1: I can just interject one thing that I'm seeing as 409 00:20:48,000 --> 00:20:50,040 Speaker 1: a positive here, I mean it's not. It's not never 410 00:20:50,119 --> 00:20:53,880 Speaker 1: positive to have so much oversight over all of your transactions, 411 00:20:53,920 --> 00:20:56,480 Speaker 1: and you know, to have the federal government know exactly 412 00:20:56,480 --> 00:20:58,399 Speaker 1: how much you have and what you're spending your money on. 413 00:20:58,480 --> 00:21:01,320 Speaker 1: But I kind of feel that right now anyway you 414 00:21:01,359 --> 00:21:04,240 Speaker 1: have your money at Wells Fargo Bank of American Bank, 415 00:21:04,560 --> 00:21:07,960 Speaker 1: then you have you have all that anyway, right, so 416 00:21:08,520 --> 00:21:11,040 Speaker 1: it's just a different set of eyeballs. I guess if 417 00:21:11,080 --> 00:21:12,960 Speaker 1: you're going to remove the middleman, you're going to remove 418 00:21:13,000 --> 00:21:14,800 Speaker 1: the banks, the commercial banks, and you go straight to 419 00:21:14,840 --> 00:21:18,560 Speaker 1: the Fed, then I guess the only positive takeaway that 420 00:21:18,600 --> 00:21:21,320 Speaker 1: I have from that is then you don't have the 421 00:21:21,359 --> 00:21:23,720 Speaker 1: mass you know, tend to one leverage every dollar that 422 00:21:23,880 --> 00:21:26,280 Speaker 1: a bank has on deposit and lend out ten or twenty. 423 00:21:26,280 --> 00:21:28,000 Speaker 1: I don't even know what the ratio is, but it's 424 00:21:28,000 --> 00:21:32,200 Speaker 1: at least ten, right, So you have this these uh, 425 00:21:32,280 --> 00:21:35,400 Speaker 1: it's inflationary. That system is inflationary. When you say it's 426 00:21:35,440 --> 00:21:36,879 Speaker 1: kind of like what we have right now, do you 427 00:21:36,920 --> 00:21:38,320 Speaker 1: mean a sense where you can go to the bank 428 00:21:38,359 --> 00:21:40,080 Speaker 1: and the bank and say no, you can't withdraw your money. 429 00:21:40,600 --> 00:21:43,600 Speaker 1: Is that what you mean? No, I'm saying, okay, I 430 00:21:43,640 --> 00:21:45,600 Speaker 1: go to the bank. The bank. The bank has one 431 00:21:45,640 --> 00:21:49,240 Speaker 1: dollar on reserve for every ten dollars that can lend out, Right, 432 00:21:49,960 --> 00:21:52,680 Speaker 1: that is done away with. It sounds like if you 433 00:21:52,760 --> 00:21:54,360 Speaker 1: cut out the banks and go straight to the FED. 434 00:21:54,520 --> 00:21:57,280 Speaker 1: We've already carried that out to the farthest degree that 435 00:21:57,320 --> 00:21:59,440 Speaker 1: it can be, which is why they talk about wanting, 436 00:21:59,560 --> 00:22:02,280 Speaker 1: you know, the financial reset. I'm confused as to what 437 00:22:02,359 --> 00:22:05,720 Speaker 1: the FEDS motivation would be too. I mean, it sounds 438 00:22:05,760 --> 00:22:08,680 Speaker 1: like some sort of providing an alternative to people using 439 00:22:08,720 --> 00:22:11,520 Speaker 1: traditional banking. What would the FEDS incentive be for that, 440 00:22:11,960 --> 00:22:14,560 Speaker 1: you know, because they're a separate institution. They're not a 441 00:22:14,600 --> 00:22:18,120 Speaker 1: for profit they're not assari provider to the people there. 442 00:22:18,160 --> 00:22:20,760 Speaker 1: Well they want to be, they are. Well, that's strange 443 00:22:20,800 --> 00:22:24,600 Speaker 1: to me because, um, you know, they're basically just the 444 00:22:24,640 --> 00:22:28,560 Speaker 1: privatized financial department of the government, so that we as 445 00:22:28,560 --> 00:22:31,000 Speaker 1: the people could never audit the FED. That seems to 446 00:22:31,040 --> 00:22:33,320 Speaker 1: be the purpose of it being an independent body. So 447 00:22:33,359 --> 00:22:35,400 Speaker 1: what could they get out of trying to then? Now, 448 00:22:35,440 --> 00:22:38,800 Speaker 1: engage in the commercial market. Well, what they want to 449 00:22:38,840 --> 00:22:41,399 Speaker 1: do is that so in times of need, like in 450 00:22:41,440 --> 00:22:44,440 Speaker 1: the pandemic of last year, the FED really can't put 451 00:22:44,480 --> 00:22:46,920 Speaker 1: money out into the economy. So we talk about printing money, 452 00:22:47,080 --> 00:22:49,240 Speaker 1: The FED can't really print money. What the FED can 453 00:22:49,240 --> 00:22:51,199 Speaker 1: do is they can give reserves to the banks, and 454 00:22:51,240 --> 00:22:53,600 Speaker 1: then when the banks lend that money out, it creates 455 00:22:53,600 --> 00:22:56,560 Speaker 1: that turns that money into existence. And so they give 456 00:22:56,600 --> 00:22:59,119 Speaker 1: the bank's money through que and they give them reserves, 457 00:22:59,160 --> 00:23:01,159 Speaker 1: but then the banks don't lend it out, so no 458 00:23:01,280 --> 00:23:05,200 Speaker 1: money actually gets into the economy. And so um, Well 459 00:23:05,240 --> 00:23:07,760 Speaker 1: that's also because the banks pick and choose who they 460 00:23:07,840 --> 00:23:09,520 Speaker 1: you know, people that are high risk of it are 461 00:23:09,640 --> 00:23:13,000 Speaker 1: you know, essentially um unbanked now they're too high risk, 462 00:23:13,000 --> 00:23:14,840 Speaker 1: they don't want to but so that goes against government's 463 00:23:14,880 --> 00:23:18,880 Speaker 1: idea of wealth redistribution that this particular agenda, um, this 464 00:23:19,000 --> 00:23:21,960 Speaker 1: administration is after. But what they want to do is 465 00:23:22,000 --> 00:23:24,600 Speaker 1: if you have a bank, if you Jessica Kyle had 466 00:23:24,600 --> 00:23:27,280 Speaker 1: a bank account directly with the FED, the FED could 467 00:23:27,320 --> 00:23:29,920 Speaker 1: just click a button and put money directly into your account, 468 00:23:30,080 --> 00:23:33,080 Speaker 1: which they can't do right now by going through the 469 00:23:33,119 --> 00:23:36,639 Speaker 1: banking system. Because commercial banks pick and choose who they'll 470 00:23:36,720 --> 00:23:40,280 Speaker 1: lend to, right exactly, and well, and there's and there's 471 00:23:40,280 --> 00:23:42,960 Speaker 1: the legal me there's no legal mechanism or pathway for 472 00:23:43,000 --> 00:23:45,120 Speaker 1: them to do that. The other thing that it does 473 00:23:45,600 --> 00:23:49,520 Speaker 1: is we're on this trend of centralization obviously, right we're 474 00:23:49,520 --> 00:23:50,960 Speaker 1: trying to get rid of all the mom and pop 475 00:23:51,000 --> 00:23:53,160 Speaker 1: we're trying to get rid of all the options and 476 00:23:53,200 --> 00:23:56,800 Speaker 1: has centralized everything. So um, right now, banking is still 477 00:23:56,840 --> 00:23:58,480 Speaker 1: a little bit decentralized where I can go to my 478 00:23:58,480 --> 00:24:00,720 Speaker 1: local farmers or merchants or my local bank and say, hey, 479 00:24:00,760 --> 00:24:03,400 Speaker 1: I want this loan, and because he knows me locally, 480 00:24:03,600 --> 00:24:06,720 Speaker 1: knows my local ERAa, he has local information. He could 481 00:24:06,720 --> 00:24:09,520 Speaker 1: give me a loan or not. That's local, that's essentialized information. 482 00:24:09,960 --> 00:24:12,600 Speaker 1: They want the FED to be the only one to 483 00:24:12,600 --> 00:24:14,800 Speaker 1: make the decision who gets money and who doesn't, so 484 00:24:14,840 --> 00:24:17,359 Speaker 1: they compress the stack, just like they're getting rid of 485 00:24:17,359 --> 00:24:18,920 Speaker 1: mom and pop retailers to go to Walmart kind of 486 00:24:18,960 --> 00:24:22,320 Speaker 1: a thing. Well, I'd essentially be in favor of of 487 00:24:22,359 --> 00:24:25,000 Speaker 1: doing something that provides market competition because there is so 488 00:24:25,040 --> 00:24:29,800 Speaker 1: many unbanked, unbanked people that that need, you know, loans 489 00:24:29,840 --> 00:24:32,040 Speaker 1: to buy homes. All these things. I just don't understand 490 00:24:32,080 --> 00:24:34,840 Speaker 1: the FED doing that because obviously they're they're trying to 491 00:24:34,880 --> 00:24:38,720 Speaker 1: put home ownership in some sort of government control, you know, 492 00:24:38,840 --> 00:24:41,520 Speaker 1: using black rock as a way to control the housing 493 00:24:41,560 --> 00:24:44,480 Speaker 1: market and get get more private ownership out of single 494 00:24:44,480 --> 00:24:47,920 Speaker 1: family home ownership. So I'd be all for it if 495 00:24:47,960 --> 00:24:52,240 Speaker 1: it if it actually gave um lesser financially prepared young 496 00:24:52,320 --> 00:24:55,359 Speaker 1: people and opportunity to get the loans they need. But 497 00:24:55,640 --> 00:24:59,119 Speaker 1: because government is never there's never the altruism in play, 498 00:24:59,200 --> 00:25:01,880 Speaker 1: It's not ever really a good thing. So I'm concerned 499 00:25:01,880 --> 00:25:04,120 Speaker 1: about it in that way. Yeah, it's like, this makes 500 00:25:04,119 --> 00:25:06,439 Speaker 1: me think about what the true motive is for the 501 00:25:06,440 --> 00:25:08,720 Speaker 1: FED doing this. It's uh, you know, they're gonna do 502 00:25:08,760 --> 00:25:12,400 Speaker 1: it under the guys of making things more efficient. We're 503 00:25:12,400 --> 00:25:15,640 Speaker 1: gonna make it easier for for us to give you stimulus, 504 00:25:15,680 --> 00:25:18,119 Speaker 1: to give you P P P to get every every 505 00:25:18,600 --> 00:25:21,280 Speaker 1: stimulus has to go through the banks. They want to 506 00:25:21,280 --> 00:25:24,000 Speaker 1: cut out the middleman. But what's the what's the real motive, 507 00:25:24,040 --> 00:25:26,880 Speaker 1: what's the real driver, the the real benefit to the Fed? Dude, 508 00:25:26,880 --> 00:25:31,520 Speaker 1: That's what's scary. The real benefit is not about yes, 509 00:25:31,640 --> 00:25:34,520 Speaker 1: now they can turn you off, y. Yeah, now they 510 00:25:34,560 --> 00:25:36,840 Speaker 1: turn you off whenever they want to. You want, you 511 00:25:36,840 --> 00:25:38,560 Speaker 1: want your freedom, you want to go to another country, 512 00:25:38,560 --> 00:25:41,560 Speaker 1: we turn you off. And so yeah, so let's talk 513 00:25:41,600 --> 00:25:44,199 Speaker 1: about bitcoin, because that's why I'm in bitcoin too, Like, 514 00:25:44,280 --> 00:25:48,520 Speaker 1: that's that's why I'm out, you know, to what two 515 00:25:48,560 --> 00:25:50,600 Speaker 1: years ago, let's just less than two years ago. I 516 00:25:50,640 --> 00:25:55,280 Speaker 1: went out of the banks because I saw the writing 517 00:25:55,280 --> 00:25:57,679 Speaker 1: on the wall and the only reason I have to 518 00:25:57,720 --> 00:25:59,800 Speaker 1: keep that account is to pay my freaking mortgage. I 519 00:25:59,760 --> 00:26:02,359 Speaker 1: can't wait. Tell there's a way for me to pay 520 00:26:02,520 --> 00:26:06,120 Speaker 1: my mortgage with bitcoin. So talking about bitcoin, I want 521 00:26:06,119 --> 00:26:08,960 Speaker 1: to transition a little bit um, you know, just just 522 00:26:08,960 --> 00:26:10,440 Speaker 1: just one thing I want to add though, why would 523 00:26:10,440 --> 00:26:13,000 Speaker 1: they want to take control of that? Well, currency and 524 00:26:13,200 --> 00:26:19,400 Speaker 1: lending are the engines of capitalism. Currency and lending are 525 00:26:19,440 --> 00:26:21,879 Speaker 1: the engines, and so they want to take control of 526 00:26:21,920 --> 00:26:25,680 Speaker 1: the engine, decide which projects get money which projects don't. 527 00:26:25,720 --> 00:26:28,600 Speaker 1: It's total control, right, It's a communist thing. But what 528 00:26:28,640 --> 00:26:30,160 Speaker 1: I want to come back and I want to talk 529 00:26:30,200 --> 00:26:35,879 Speaker 1: about is is this bad for bitcoin? Uh? Does central 530 00:26:35,880 --> 00:26:39,359 Speaker 1: bank digital currencies take away the need for bitcoin? Or 531 00:26:39,800 --> 00:26:43,640 Speaker 1: does it only push bitcoin adoption further? So I want 532 00:26:43,640 --> 00:26:46,119 Speaker 1: to talk about that. When we get back. UM, I 533 00:26:46,160 --> 00:26:48,520 Speaker 1: think a lot of people actually think that central make 534 00:26:48,560 --> 00:26:50,520 Speaker 1: digital currencies could be bad for bitcoin, which it could. 535 00:26:50,560 --> 00:26:52,280 Speaker 1: Maybe maybe there's no way that you can transfer your 536 00:26:52,280 --> 00:26:54,520 Speaker 1: central maink digital currency to Bitcoin, so maybe that's the case, 537 00:26:54,800 --> 00:26:56,359 Speaker 1: or maybe it pushes the need. We'll talk about that 538 00:26:56,359 --> 00:26:58,800 Speaker 1: when we get back. Um, you are listening to the 539 00:26:58,840 --> 00:27:01,080 Speaker 1: Mark Moss Show. Um, in my in the studio with 540 00:27:01,119 --> 00:27:04,480 Speaker 1: my good friends Kyle Wonderley and Jessica Vaughan at Jessica 541 00:27:04,520 --> 00:27:09,560 Speaker 1: Vaughan and at super Rad Kyle stuff stuff at super 542 00:27:09,600 --> 00:27:11,680 Speaker 1: Ad Stuff. Sorry about that. You're listening to Mark Mos Show. 543 00:27:11,680 --> 00:27:14,560 Speaker 1: We're gonna be right back talking about the coming central 544 00:27:14,600 --> 00:27:17,600 Speaker 1: bank digital currency and whether it's good or bad for bitcoin. 545 00:27:18,119 --> 00:27:21,000 Speaker 1: We'll be right back. Hey everyone, welcome back. You are 546 00:27:21,040 --> 00:27:22,920 Speaker 1: listening to the Mark Mos Show and we are talking 547 00:27:22,920 --> 00:27:27,040 Speaker 1: about bitcoin, cryptocurrencies, the decentralized revolution. This is something you 548 00:27:27,040 --> 00:27:28,920 Speaker 1: don't want to be missing. You need to tune in 549 00:27:29,000 --> 00:27:31,320 Speaker 1: each and every week, So pull out your phone, put 550 00:27:31,320 --> 00:27:34,040 Speaker 1: a reminder for this station, this time, this channel. Of course, 551 00:27:34,119 --> 00:27:36,040 Speaker 1: if you ever missed me, you missed part of me. 552 00:27:36,240 --> 00:27:37,800 Speaker 1: You want to hear more of me. Check it out 553 00:27:37,800 --> 00:27:40,920 Speaker 1: on the iHeart Podcast. Network. I'm in the studio studio 554 00:27:41,000 --> 00:27:43,399 Speaker 1: with my two good friends, Kyle Wonderley and Jessica Vaughan, 555 00:27:43,840 --> 00:27:49,120 Speaker 1: and we are talking about a fundamental change to the economy, 556 00:27:49,160 --> 00:27:52,639 Speaker 1: a takeover of the banking literally collapsing the entire banking stack. 557 00:27:53,000 --> 00:27:56,600 Speaker 1: Biden's nomination for the new head of the currency wants 558 00:27:56,640 --> 00:28:00,480 Speaker 1: to do a Soviet style takeover. She's a little literal 559 00:28:00,920 --> 00:28:05,439 Speaker 1: literal communist. I mean she's from Russia, literally miss Almarova, 560 00:28:05,560 --> 00:28:08,639 Speaker 1: and she wants to fundamentally change it. And she says 561 00:28:08,760 --> 00:28:11,920 Speaker 1: that they want to roll out a central bank digital currency, 562 00:28:11,960 --> 00:28:14,199 Speaker 1: so we have to pausits directly with the FED, and 563 00:28:14,240 --> 00:28:17,359 Speaker 1: then there's no more banks, there's no decentralization in the banking. 564 00:28:18,400 --> 00:28:20,480 Speaker 1: And I posed the question before we came went to 565 00:28:20,520 --> 00:28:23,600 Speaker 1: break and I want to find out from Kyle and Jessica. 566 00:28:24,240 --> 00:28:26,560 Speaker 1: Is going to a central bank digital currency where the 567 00:28:26,600 --> 00:28:31,360 Speaker 1: FED controls what you can and can't buy, UH controls everything, 568 00:28:31,840 --> 00:28:36,159 Speaker 1: UM controls the engines of capitalism. Is that good or 569 00:28:36,240 --> 00:28:39,280 Speaker 1: is that bad? For Bitcoin? Well, one one thing that 570 00:28:39,680 --> 00:28:41,800 Speaker 1: you mentioned that I hadn't even thought of until you 571 00:28:41,880 --> 00:28:45,680 Speaker 1: just said it was the ability that they may have 572 00:28:46,000 --> 00:28:49,720 Speaker 1: to stop you from buying certain things. And my whole 573 00:28:49,760 --> 00:28:52,680 Speaker 1: opt out of this system is bitcoin. I've got to 574 00:28:52,720 --> 00:28:55,240 Speaker 1: have to be ability to buy bitcoin. So that would 575 00:28:55,240 --> 00:28:59,520 Speaker 1: be my biggest fear is, Okay, they could they know 576 00:28:59,560 --> 00:29:01,720 Speaker 1: how much money you have, and they're gonna also be 577 00:29:01,760 --> 00:29:04,520 Speaker 1: able to say what you can spend your money on 578 00:29:04,520 --> 00:29:07,840 Speaker 1: and what you can't, so if we can't, So that 579 00:29:07,880 --> 00:29:10,520 Speaker 1: would be a fear for any bitcoiner is thinking that 580 00:29:10,560 --> 00:29:12,840 Speaker 1: the government could have so much control that they can say, well, 581 00:29:12,880 --> 00:29:16,600 Speaker 1: you can't spend this money that everybody else believes in 582 00:29:16,840 --> 00:29:24,480 Speaker 1: on your bitcoin. Yikes, you stunder with that one. She 583 00:29:24,960 --> 00:29:27,360 Speaker 1: for the first time I've ever seen her speechless on that. Yeah, 584 00:29:27,440 --> 00:29:29,080 Speaker 1: maybe maybe we'll just have to go to live in 585 00:29:29,080 --> 00:29:31,160 Speaker 1: El Salvador, because I know they're not gonna do They're 586 00:29:31,200 --> 00:29:34,560 Speaker 1: not gonna deal with the CBDC and maybe obviously you 587 00:29:34,600 --> 00:29:37,480 Speaker 1: know you have to be stacking your SATs now. Yeah, 588 00:29:37,520 --> 00:29:40,479 Speaker 1: I don't think I was in my mind exploring the 589 00:29:40,600 --> 00:29:44,400 Speaker 1: idea that perhaps um, the government was just is just 590 00:29:44,440 --> 00:29:47,800 Speaker 1: writing piggyback off um what the free market did with 591 00:29:47,840 --> 00:29:49,840 Speaker 1: creating crypto, and they're just using it as like a 592 00:29:49,880 --> 00:29:53,280 Speaker 1: beta test to see um work out any problems with 593 00:29:53,360 --> 00:29:57,280 Speaker 1: coming fed coin. That might be an interesting consideration as 594 00:29:57,320 --> 00:30:00,880 Speaker 1: to why they're tolerant of crypto right now and they're happy. 595 00:30:00,920 --> 00:30:03,560 Speaker 1: I remember like that you still feel free if you 596 00:30:03,600 --> 00:30:05,600 Speaker 1: have a way to feel like you can save yourself 597 00:30:05,600 --> 00:30:08,760 Speaker 1: with your own financial decisions, and they don't want any like, 598 00:30:08,920 --> 00:30:13,440 Speaker 1: you know, kinetic problems with people right now. Right. So 599 00:30:13,720 --> 00:30:15,680 Speaker 1: if you feel like you're not, if you you don't, 600 00:30:15,680 --> 00:30:18,600 Speaker 1: you stop being When you stop feeling free is when 601 00:30:18,640 --> 00:30:22,560 Speaker 1: they you know, statistically know that problems have civil wars 602 00:30:22,600 --> 00:30:26,680 Speaker 1: come from that type of thing. I think about it, like, um, 603 00:30:26,720 --> 00:30:28,680 Speaker 1: I think about it again. I always try to kind 604 00:30:28,720 --> 00:30:32,520 Speaker 1: of go back to the incentives. So when the president 605 00:30:32,560 --> 00:30:37,280 Speaker 1: starts talking about banning guns, guns cells skyrocket right. Smith 606 00:30:37,320 --> 00:30:39,840 Speaker 1: and Wesson stock went up faster than a cryptocurrency is 607 00:30:39,840 --> 00:30:42,800 Speaker 1: like a thousand percent up this year right or last year. Um. 608 00:30:42,880 --> 00:30:46,880 Speaker 1: And so when the government says, hey, don't do drugs, well, 609 00:30:46,920 --> 00:30:49,480 Speaker 1: it doesn't really make you want to go do them. Um. 610 00:30:49,480 --> 00:30:51,479 Speaker 1: But when they say, hey, you don't have a right 611 00:30:51,520 --> 00:30:52,960 Speaker 1: to store your wealth in a way that we can't 612 00:30:53,000 --> 00:30:56,040 Speaker 1: caese or steal from you, that kind of makes me 613 00:30:56,120 --> 00:30:59,480 Speaker 1: want to go do that. And so I think, um, 614 00:30:59,480 --> 00:31:02,240 Speaker 1: it definitely changes the incentive structure which makes me want 615 00:31:02,280 --> 00:31:05,520 Speaker 1: to go into that currency better are faster. I think 616 00:31:05,560 --> 00:31:07,000 Speaker 1: back to the kind of the point Kyle you were 617 00:31:07,080 --> 00:31:11,920 Speaker 1: hitting on. They could prohibit me because it's programmable money, 618 00:31:11,960 --> 00:31:14,800 Speaker 1: where they could actually prohibit me from transferring to coin 619 00:31:14,840 --> 00:31:17,120 Speaker 1: base to buy bitcoin, right, they could say nope, that 620 00:31:17,120 --> 00:31:22,120 Speaker 1: that transaction is blocked, but they couldn't prevent me from 621 00:31:22,120 --> 00:31:26,080 Speaker 1: buying something else that then I could trade for bitcoin, right, 622 00:31:26,120 --> 00:31:28,560 Speaker 1: And so there's always gonna be a way. They're always 623 00:31:28,560 --> 00:31:30,880 Speaker 1: gonna love Ship, They're always gonna love doach coin and Ship, 624 00:31:30,880 --> 00:31:32,920 Speaker 1: and they're always gonna love whatever cells on coin Base 625 00:31:33,040 --> 00:31:36,640 Speaker 1: if you want to go into that. You like we 626 00:31:36,640 --> 00:31:39,360 Speaker 1: were talking this morning, why are these meme coins getting 627 00:31:39,400 --> 00:31:43,480 Speaker 1: so much love from coin base? D gen gamblers, coin 628 00:31:43,520 --> 00:31:48,320 Speaker 1: based profits off of the production. Of course that's why. Yeah, 629 00:31:48,360 --> 00:31:50,920 Speaker 1: and the taxman loves coin Base, and the and the 630 00:31:50,960 --> 00:31:54,280 Speaker 1: Taxman loves uh. You know, a bunch of dumb people 631 00:31:54,280 --> 00:31:57,720 Speaker 1: buying meme coins that don't have any value, utility, or 632 00:31:57,720 --> 00:32:00,000 Speaker 1: anything because they're the easiest people to get the Money 633 00:32:00,000 --> 00:32:04,080 Speaker 1: Act from. I think. Look, I think the reason that 634 00:32:04,120 --> 00:32:06,960 Speaker 1: they said we don't have any intention on banning bitcoin 635 00:32:07,200 --> 00:32:10,479 Speaker 1: and crypto that use crypto in the same sentence. I 636 00:32:10,520 --> 00:32:13,400 Speaker 1: think that gave you know, the all coins some massive 637 00:32:13,400 --> 00:32:15,520 Speaker 1: attention and you have a lot. Ever since, the meme 638 00:32:15,560 --> 00:32:18,440 Speaker 1: coins have been taking off again and the government is 639 00:32:18,480 --> 00:32:21,600 Speaker 1: looking for ways, they're looking for sources of revenue. We've 640 00:32:21,600 --> 00:32:24,640 Speaker 1: got to pay the pandemic. That you got to pay 641 00:32:24,680 --> 00:32:27,520 Speaker 1: this pandemic off somehow, and I let all the let 642 00:32:27,760 --> 00:32:29,880 Speaker 1: let all the all coins pump and then yeah, we'll 643 00:32:29,920 --> 00:32:33,440 Speaker 1: just taxi unrealized gains. That's right, that's it. That's that's 644 00:32:33,440 --> 00:32:34,800 Speaker 1: what I think it. That's what I think it is. 645 00:32:34,800 --> 00:32:36,280 Speaker 1: So I feel bad. I've been warning all my friends 646 00:32:36,280 --> 00:32:38,760 Speaker 1: don't buy from coin base. You know, anything that get 647 00:32:38,840 --> 00:32:41,240 Speaker 1: lits gets listed on coin based pumps, because that's the 648 00:32:41,280 --> 00:32:44,360 Speaker 1: easiest way for the government to get your information. Coin 649 00:32:44,400 --> 00:32:47,600 Speaker 1: bast coin Base has always been in bed with the regulators. 650 00:32:47,640 --> 00:32:50,560 Speaker 1: They don't want you to have hedges against inflation to 651 00:32:50,640 --> 00:32:53,040 Speaker 1: protect yourself. They want you to feel it because it's 652 00:32:53,040 --> 00:32:56,239 Speaker 1: about um us all being on our knees so that 653 00:32:56,320 --> 00:32:59,040 Speaker 1: we can forfeit more privacy, so that government can get bigger, 654 00:32:59,080 --> 00:33:02,600 Speaker 1: because that's what all these policies are designed to do. Yeah, 655 00:33:03,440 --> 00:33:05,520 Speaker 1: you don't want to talk about all coins, well, I 656 00:33:05,520 --> 00:33:08,640 Speaker 1: think a lot of it comes from the government's unintended consequences. 657 00:33:08,640 --> 00:33:10,560 Speaker 1: It's something called the cobra effect. I don't know, you 658 00:33:10,600 --> 00:33:12,960 Speaker 1: guys familiar with the cobra effect, Yeah, only from you. 659 00:33:13,040 --> 00:33:16,000 Speaker 1: But the super short version of the cobra effect is 660 00:33:16,040 --> 00:33:17,760 Speaker 1: in India, they had a bunch of cobras, and cobras 661 00:33:17,800 --> 00:33:19,880 Speaker 1: the dead they obviously, so the government said, hey, we'll 662 00:33:19,880 --> 00:33:21,600 Speaker 1: pay everyone to go kill a cobra if you bring 663 00:33:21,640 --> 00:33:23,000 Speaker 1: it in and we'll pay you. So people would and 664 00:33:23,120 --> 00:33:24,600 Speaker 1: kill the cobras and they brought him and they got paid. 665 00:33:24,720 --> 00:33:27,240 Speaker 1: But some people were like, well, shoot, I'll just raise cobras. 666 00:33:27,280 --> 00:33:28,680 Speaker 1: I can raise a whole bunch and I'll just start 667 00:33:28,680 --> 00:33:31,320 Speaker 1: bringing them in. And everyone was raising cobras to sell 668 00:33:31,440 --> 00:33:33,480 Speaker 1: the government. The government's like, what the heck Now people 669 00:33:33,480 --> 00:33:35,560 Speaker 1: are raising them, like, we're done with this, like in 670 00:33:35,560 --> 00:33:37,160 Speaker 1: the program and all the people that are raising the 671 00:33:37,160 --> 00:33:38,840 Speaker 1: cobras that all these covers, they just let them all go, 672 00:33:38,960 --> 00:33:40,600 Speaker 1: and then they had more covers than they started the 673 00:33:40,600 --> 00:33:43,600 Speaker 1: program with. Uh. So it's like these unintended consequences and 674 00:33:43,640 --> 00:33:45,680 Speaker 1: I think like the government is trying to protect people 675 00:33:45,800 --> 00:33:49,560 Speaker 1: from investing like go to your point car, like go 676 00:33:49,600 --> 00:33:51,400 Speaker 1: buy as many Lar tickets you want to go gamble 677 00:33:51,440 --> 00:33:53,480 Speaker 1: as much as you want. But how dare you buy 678 00:33:53,480 --> 00:33:56,800 Speaker 1: an early round in uber or something? Right? Uh, so 679 00:33:56,840 --> 00:33:59,600 Speaker 1: that's only for credit investors. Once it gets to the 680 00:33:59,600 --> 00:34:01,760 Speaker 1: public market, they can dump on everybody else. And I 681 00:34:01,800 --> 00:34:04,240 Speaker 1: think people are so desperate to get in something early 682 00:34:04,800 --> 00:34:08,520 Speaker 1: that these Chibu new coins give them that opportunity. And 683 00:34:08,560 --> 00:34:10,520 Speaker 1: so it's the unintended consequence of the government trying to 684 00:34:10,520 --> 00:34:14,360 Speaker 1: protect people only hurts them even more. Probably it's not 685 00:34:14,440 --> 00:34:17,879 Speaker 1: that all coins are are destructive, it's just not at all. 686 00:34:18,000 --> 00:34:22,800 Speaker 1: It's a distraction for people to um deviate from the value, 687 00:34:23,200 --> 00:34:27,480 Speaker 1: the social value that bitcoin provides. That's my only problem 688 00:34:27,480 --> 00:34:30,080 Speaker 1: without all coins is because I'm here for a financial revolution, 689 00:34:30,200 --> 00:34:32,200 Speaker 1: So I don't innately care that people want to go 690 00:34:32,520 --> 00:34:35,600 Speaker 1: do casino stuff or have have fun. Cryptos just fun 691 00:34:35,640 --> 00:34:39,279 Speaker 1: because it's another game. Then I don't really care. I mean, 692 00:34:39,280 --> 00:34:42,240 Speaker 1: we haven't like it's taking so many trillions of dollars 693 00:34:42,239 --> 00:34:44,360 Speaker 1: out of the US dollars that were collapsing or something. 694 00:34:44,960 --> 00:34:47,600 Speaker 1: Yes to each his own, Like, I'm not gonna hate 695 00:34:47,640 --> 00:34:50,200 Speaker 1: on the gamblers. There's a reason, there's that people aren't 696 00:34:50,200 --> 00:34:52,600 Speaker 1: going to Vegas right now. Vegas is terrible. You're gonna 697 00:34:52,600 --> 00:34:55,319 Speaker 1: sit there with a mask on and play rolette or 698 00:34:55,360 --> 00:34:57,760 Speaker 1: play cards without a mask on. You can't read people's 699 00:34:57,800 --> 00:35:00,000 Speaker 1: faces right now in Vegas. People are going to Vegas 700 00:35:00,000 --> 00:35:03,600 Speaker 1: and they're not wearing masks in the casino. Yeah, as well, 701 00:35:03,840 --> 00:35:06,200 Speaker 1: that's why. That's also why we've got you know, all 702 00:35:06,239 --> 00:35:09,120 Speaker 1: the degenerate gamblers went online and they went to coin 703 00:35:09,160 --> 00:35:12,160 Speaker 1: base and they went might have been a consequence of 704 00:35:12,200 --> 00:35:14,200 Speaker 1: them getting locked in their homes that they did that, 705 00:35:14,320 --> 00:35:16,800 Speaker 1: and they have nothing better to do. But the government 706 00:35:16,800 --> 00:35:19,919 Speaker 1: wants to push us towards a digital economy, so they're 707 00:35:19,960 --> 00:35:22,960 Speaker 1: quite fine with whatever you make it doesn't involve creating 708 00:35:22,960 --> 00:35:25,960 Speaker 1: physical things, you know, that's what the whole the whole 709 00:35:26,040 --> 00:35:29,880 Speaker 1: problem with them, the supply chain getting broken on purpose, 710 00:35:29,920 --> 00:35:32,359 Speaker 1: all these things. They would rather you funnel all your 711 00:35:32,400 --> 00:35:36,600 Speaker 1: effort and energy and finances into a digital economy. I 712 00:35:36,680 --> 00:35:40,240 Speaker 1: think it's also a continuation of the Fiat money system. 713 00:35:40,320 --> 00:35:43,920 Speaker 1: So the Fiat money system incentivizes Fiat money is a 714 00:35:43,960 --> 00:35:47,080 Speaker 1: system of theft, lies and deceit, and in incentivizes that. 715 00:35:47,160 --> 00:35:49,839 Speaker 1: And so we're continuing to see the effects of Fiat money. 716 00:35:49,880 --> 00:35:52,479 Speaker 1: We're seeing Fiat food. They're taking shortcuts in our food, 717 00:35:52,520 --> 00:35:54,960 Speaker 1: putting food additives and giving us worse quality of food. 718 00:35:55,120 --> 00:35:57,759 Speaker 1: And everybody's looking for a shortcut in today instead of 719 00:35:57,800 --> 00:36:01,480 Speaker 1: building value, providing valuable goods and service. I'll just go gamble, right, 720 00:36:01,480 --> 00:36:03,360 Speaker 1: everybody's looking for that shortcut. And I think that's just 721 00:36:03,400 --> 00:36:05,680 Speaker 1: a continuation. It kind of symbolizes where we're at as 722 00:36:05,680 --> 00:36:09,799 Speaker 1: an economy. That's the entire of the market. Yeah, it's 723 00:36:09,800 --> 00:36:11,759 Speaker 1: a it's a it's a combination of the stock market. 724 00:36:11,800 --> 00:36:14,160 Speaker 1: But we have to wrap this thing up. We're talking 725 00:36:14,200 --> 00:36:17,759 Speaker 1: about bitcoin, cryptocurrencies and the decentralized revolution. You listen to 726 00:36:17,800 --> 00:36:21,680 Speaker 1: the Mark Moss Show. Um, we're here every week bringing 727 00:36:21,680 --> 00:36:23,400 Speaker 1: you the most up to the information. Put this on 728 00:36:23,440 --> 00:36:25,640 Speaker 1: your calendar. If you miss some of this, find it 729 00:36:25,719 --> 00:36:28,520 Speaker 1: on the I Heart Radio podcast network. UM. I'm in 730 00:36:28,560 --> 00:36:31,160 Speaker 1: the studio with my good friends Jessica Vaughan and Kyle 731 00:36:31,160 --> 00:36:35,040 Speaker 1: Wonderley at Jessica Van at super Rad Stuff, and I'm 732 00:36:35,080 --> 00:36:36,879 Speaker 1: Mark Moss and I'll see you next week.