Speaker 1: Hey, everyone, welcome to the Mark mo Show, where I
Speaker 1: am talking about bitcoin cryptocurrencies and we are talking about
Speaker 1: the decentralized revolution. I'm trying to bring to you the
Speaker 1: information that I would want to hear if I was
Speaker 1: on the side of the table, because this is literally
Speaker 1: the biggest opportunity of your life, multiple generations, and if
Speaker 1: you want to take advantage of that opportunity, you have
Speaker 1: to have the information that most people don't have. UM.
Speaker 1: I'm joined by two of my really good friends here today.
Speaker 1: I got Kyle Wonderley. I got the lovely Jessica van
Speaker 1: She's back with us again. Always love her insight and
Speaker 1: her smart wit. One of the smartest and maybe the
Speaker 1: most beautiful girls online. So it's a lethal combination between
Speaker 1: the two and my good friend Kyle. We talked about
Speaker 1: this stuff for hours and hours and offline, and so
Speaker 1: I thought maybe we would enjoy you guys would enjoy
Speaker 1: hearing us talking about it together. So, uh, Kyle Wonderley
Speaker 1: and Jessica Vom and what's up? I just wanted to
Speaker 1: correct you for a second. You say we talk. I'm
Speaker 1: gonna tell everybody that I spend of my time listening
Speaker 1: with Mark Moss. I don't do as much talking as
Speaker 1: I do with other people, and and and it's good
Speaker 1: that way, and I like it that way. We'll keep it.
Speaker 1: I I'm here to interrupt him and talk over him.
Speaker 1: So um, I love to have it. So, Uh, Kyle
Speaker 1: is at super rat Stuff on Twitter. That's underscore, super
Speaker 1: Underscore rat Underscore Stuff. Underscore Kyle, you should change that name.
Speaker 1: It's stupid and it's very hard to pronounce when I
Speaker 1: have to spell it out for everybody. Uh. And Jessica,
Speaker 1: she is at Jessica Vaughan. You can find her on
Speaker 1: Twitter as well. And so you know, we're all avid bitcoiners.
Speaker 1: We believe that this is a massive opportunity. We kind
Speaker 1: of eat, sleep, and breathe. It kind of becomes a lifestyle.
Speaker 1: I don't want to say a cult, but it does
Speaker 1: become a lifestyle because it's literally changing the world right
Speaker 1: before our very eyes. And it's really permanating like every
Speaker 1: area of society, from the culture to the financial system
Speaker 1: to the political system. I mean, you name it. It's
Speaker 1: changing things. And uh, you know, one of the big
Speaker 1: stories this week is that um, surprise, surprise, surprise, is
Speaker 1: the government wants to come get more of your wealth. Um.
Speaker 1: You know, when we get to a debt crisis like
Speaker 1: we have today, at the end of a debt cycle, Uh,
Speaker 1: there's really only four ways out of it. And so
Speaker 1: one of those ways is the default on the debt,
Speaker 1: and then I states can't really do that. Uh. Another
Speaker 1: way to do that is to go in to austerity.
Speaker 1: That means that they have to go to a budget,
Speaker 1: and of course they don't want to do that. The
Speaker 1: third way is they can raise taxes, but the problem
Speaker 1: is there's only so much tax as they can raise
Speaker 1: before there's a revolt. And then the fourth and final way,
Speaker 1: which is the when they typically use, is to just
Speaker 1: inflate their way out of it, which of course is
Speaker 1: also taxation and theft um. And but they've they've kind
Speaker 1: of got taxes about as high as they can go.
Speaker 1: But what they've done is now they're going to tax
Speaker 1: the rich. That sounds good because we all hate the rich, right,
Speaker 1: we shouldn't we should we shouldn't be successful. And for
Speaker 1: the first time ever, let me read you the story here.
Speaker 1: Democrats proposed tax on unrealized capital gains and it potentially
Speaker 1: is unconstitutional. Nancy Pelosi and for some reason, we have
Speaker 1: Janet Yelling from the Treasury coming out talking about how
Speaker 1: they want to tax unrealized capital gain. So let me
Speaker 1: explain what this is and then we'll discuss it a
Speaker 1: little bit. So basically, um, cap gains are investment income.
Speaker 1: So I've earned my income, so I've earned income taxes
Speaker 1: and have cap gains taxes. I've earned my income, and
Speaker 1: I've had to pay tax on that income. After I've
Speaker 1: paid taxes, that money is mine because I've given them
Speaker 1: their their half um and with my half that I
Speaker 1: get to keep. Thank you for the government. I invest it.
Speaker 1: And when I invest that, hopefully it goes up in value.
Speaker 1: I risk it. If not, it goes down um. But
Speaker 1: the price of those assets like stocks could go up,
Speaker 1: and it can go down up and down, up and down.
Speaker 1: They want to tax my unrealized profits. So I haven't
Speaker 1: sold it yet, I'm holding it, and they want to
Speaker 1: take that money from me. So I've already paid tax.
Speaker 1: I shouldn't have to pay tax again. In my opinion,
Speaker 1: it goes up hopefully if I'm lucky. I took that
Speaker 1: risk um, and then they want to tax it, which
Speaker 1: is just insane to me. And of course at this point,
Speaker 1: they're only going to tax the rich. Now, Biden says
Speaker 1: they wouldn't. They was gonna raise taxes, but it wouldn't
Speaker 1: raised taxes except for the rich, which was he defined
Speaker 1: as over four hundred thousand dollars, which isn't that rich. Um,
Speaker 1: Today they're starting to seem like they want to go
Speaker 1: after the billionaires. They want to billion villain villain I
Speaker 1: is the billionaires? Is this like another form of identity politics, Jessica. Um, Well,
Speaker 1: they like to go with the whole billionaires, and then
Speaker 1: it moves to the millionaires, and then it's anybody with
Speaker 1: a six figure income. So really it's just about how
Speaker 1: can we get the masses to get behind demonizing a
Speaker 1: group of people because um, it's it's really just a
Speaker 1: way to disguise government confiscation of personal property because uh,
Speaker 1: intrinsically these people don't believe in personal property? Is it?
Speaker 1: Because um if it's almost like they're trying to get
Speaker 1: the people to turn on the rich people, because then
Speaker 1: it's like not the government so much, it's like the
Speaker 1: people want it, and then we all forfeit our privacy
Speaker 1: and the process and nobody thinks about, you know, throwing
Speaker 1: the baby out with the bathwater on that and how
Speaker 1: it might negatively consequent ourselves. And it doesn't take government long.
Speaker 1: It starts as something that's only designed for you know,
Speaker 1: the billionaires, and then it of course goes down descents
Speaker 1: into everyday culture from from there and it doesn't even
Speaker 1: take a decade. Well they've got eight years until, you know.
Speaker 1: So I think they're going to aggressively move in on
Speaker 1: these things and the crowd will cheer it on. And
Speaker 1: that's what's concerning the crowd. So like the tyranny of
Speaker 1: the mob. Right, So like democracy, meaning that they're the
Speaker 1: majority of democracy, they're they're always going to vote for
Speaker 1: more of your money if they're given the choice of Right,
Speaker 1: are the people rallying on the streets? I mean, those
Speaker 1: are the masses. That's that's the mob, And there's you know,
Speaker 1: we have a lot of wealth in the in the
Speaker 1: select hands of a few, So you're right, I don't know,
Speaker 1: and it's a deterrent to trying to want to get
Speaker 1: rich though you know, you have these protections. But when
Speaker 1: you deviate half of the culture away from the idea
Speaker 1: of individual liberties and individual rights, and then of course
Speaker 1: then you bully attorneys and judges and juries where they
Speaker 1: can't defend the Constitution because um cultures eradicated the ability
Speaker 1: to just stand for what the Constitution protects individual rights.
Speaker 1: What once we do that, I mean, what there if
Speaker 1: there's nobody there to defend it, do we really have
Speaker 1: constitutional protections? I like what Kyle said right where it's
Speaker 1: like it kind of takes away the incentive to to
Speaker 1: get rich or to make money. And I'd like to
Speaker 1: try to think about and I think in the context
Speaker 1: if we think about like the incentive structure, and so
Speaker 1: I already had to pay tax on the money I
Speaker 1: earned it, I pay tax on it, and now I
Speaker 1: have to go risk it. Should I risk it or
Speaker 1: should I sit on it? Well, if I risk it
Speaker 1: and they're gonna take my unrealized wealth, maybe I don't
Speaker 1: want to risk it. Maybe it's not worth the risk now.
Speaker 1: And so it changes that incentive structure. And then you know,
Speaker 1: Charlie Monger says, show me the incentive, show me the outcome,
Speaker 1: and like, how does that like, how is the outcome
Speaker 1: going to be different if we shift that incentive structure? Yeah,
Speaker 1: I mean, and they're doing away with compound interest, really, right,
Speaker 1: I mean, so I was born with the idea we
Speaker 1: were I mean, we're we're all basically the same age here.
Speaker 1: We you know, the reason that you invest, the reason
Speaker 1: you start when you're young, the reason you take risks
Speaker 1: at a young age is because you know your money
Speaker 1: can compound over time. But this way of you know,
Speaker 1: taxing unrealized gains just takes away the incentive for even
Speaker 1: in yeah, for even taking a step toward investing, because
Speaker 1: you know the max you can make each year is
Speaker 1: only half of you know, whatever the tax trek is
Speaker 1: going to be for your unrolls realized gains. I don't know,
Speaker 1: but um, it's definitely it's definitely putting a huge damper
Speaker 1: on on compound interest. Let's look at a real example
Speaker 1: and see how idiotic this could be, or actually how
Speaker 1: dangerous this could be. So let's look at bitcoin. Since
Speaker 1: we're here obviously talking about bitcoin, so most people know
Speaker 1: that we just this week broke a new all time
Speaker 1: high congratulates, which was previously set like in May. But
Speaker 1: the last all time high was in December eighteenth of
Speaker 1: two thousand seventeen, and it reached a peak of about
Speaker 1: twenty tho dollars. So that's the end of the tax.
Speaker 1: Here December seventeen, it was it was twenty dollars, and
Speaker 1: so the tax your closes and now that's unrealized. I
Speaker 1: haven't sold it, but I have to pay tax on that.
Speaker 1: And then over the next couple of months bitcoin dropped
Speaker 1: down to three thousand dollars by by uh, you know,
Speaker 1: throughout December. Team. So when the next tax bills do
Speaker 1: instead of I'm paying tax on twenty which I never realized,
Speaker 1: and now the assets only worth three thousand, and I
Speaker 1: have to pay tax on the twenty tho, Like, how
Speaker 1: does that work? This administration wants to disincentivize savings because
Speaker 1: innately their um their economic position. Their theory is is
Speaker 1: that if if you are storing the wealth and you're
Speaker 1: not putting it back into the economy, which is you know,
Speaker 1: that's what they attribute their not being enough economic activity. Yeah, alright,
Speaker 1: so we're gonna talk more about how insane this policy is,
Speaker 1: but we want to transition this to actually talk about
Speaker 1: how we can protect ourselves from this. But even more
Speaker 1: than just protecting ourselves from this, as I was kind
Speaker 1: of hinting to before changing the incentive structure, because if
Speaker 1: we changing the CenTra structure, we totally change the outcome.
Speaker 1: We're gonna talk about that. We're gonna talk about more
Speaker 1: when we come back. You're listening to the Mark mo Show.
Speaker 1: We're talking about bitcoin, cryptocurrencies in the Decentralized Revolution, and
Speaker 1: we will be right back. All right, welcome back. You
Speaker 1: were listening to Mark Moss Show. We're talking about bitcoin
Speaker 1: and cryptocurrencies and the decentralized Revolution, bringing you the information
Speaker 1: you need each and every week to navigate this correctly.
Speaker 1: It is going to be the largest opportunity you'll ever
Speaker 1: have in your life. I'm joined in the studio by
Speaker 1: two of my really good friends. Of course, I got
Speaker 1: the lovely Jessica van who's back with us again. Find
Speaker 1: her on Twitter at Jessica Vaughan. And I got Kyle Wonderley,
Speaker 1: who has this really long, weird Twitter name that I
Speaker 1: it's just too long to say. It's a super rad
Speaker 1: stuff with some underscores, and their Kyle changed that next time.
Speaker 1: What would be just as hard to say my name
Speaker 1: Kyle Wonderley. That nobody ever gets the spelling right on
Speaker 1: that either, So can you spell super rad stuff? That's
Speaker 1: what it is? You should just you should just be
Speaker 1: Kyle Wonder. Okay, yeah, but but then they're gonna spell
Speaker 1: it w O N d e R and that would
Speaker 1: be a disgrace to my last name, which is w
Speaker 1: U N D yes. Anyway, So before we took a break,
Speaker 1: we were talking about how the FED wants to tax
Speaker 1: or that actually say the I R s once the
Speaker 1: tax are unrealized capital gains and how crazy that is.
Speaker 1: I gave this just a quicker story is like, let's
Speaker 1: say your house is worth two hundred dollars, the Fed
Speaker 1: prints a lot of money. Your house is now worth
Speaker 1: four hundred thousand dollars, So you have two thousand of
Speaker 1: unrealized gains because you wouldn't realize that. Tell you sell
Speaker 1: the house, right, but guess what, you don't have that
Speaker 1: kind of cash to cover that. So I guess what?
Speaker 1: Blackrock buys your house at auction for pennies on the
Speaker 1: dollar and now you're renting the house. Um, it's one
Speaker 1: possible scenario. And just you kind of illustate how hassanine
Speaker 1: this type of a policy is you are taking more
Speaker 1: loans out right just to pay your taxes, taking an
Speaker 1: equity line out of your house to pay the taxes
Speaker 1: on it. Well, it's an it's an attack on generational
Speaker 1: wealth because they feel like that contributes to some sort
Speaker 1: of like inequality in America, so they want to eradicate that.
Speaker 1: And do we know anything more about this policy other
Speaker 1: than the fact that they want to tax unreal unrealized
Speaker 1: gains or do the Is it going to be like
Speaker 1: a quarterly or an annual thing? Do we know any details? Yeah,
Speaker 1: we don't. We don't know a lot right now from
Speaker 1: what I heard. I mean, they talked. They said they said,
Speaker 1: first of all, it would be on liquid assets, so
Speaker 1: I don't think a house would really apply. Um, so
Speaker 1: it's gonna be on liquid assets, so I think it
Speaker 1: would be on stocks. I think cryptocurrencies are going to
Speaker 1: be a big piece that they're gonna want to come
Speaker 1: after that. Do you think that this coming policy is
Speaker 1: one reason why they're behind bitcoin being an asset and
Speaker 1: not a monetary system. Yeah, So technically bitcoin is an asset.
Speaker 1: It's a commodity as opposed to a financial instrument, which
Speaker 1: wouldn't be so in an el savador for example. Um,
Speaker 1: it's a currency, so there's not a taxable exchange when
Speaker 1: you use it, but here it is. Um. You know,
Speaker 1: we'll see how this shakes out there is Uh, there's
Speaker 1: aready there's already lawsuits that are being filed, right. They
Speaker 1: want to they want to fight this. They say it's unconstitutional. Um,
Speaker 1: So we'll see where that shakes out. Um. But I
Speaker 1: think kind of like we were talking about before the break,
Speaker 1: if they can demon demons or vilify these rich people
Speaker 1: and get them to get the sentiment to move against
Speaker 1: them through a through a democracy of of tyranny of
Speaker 1: the minority, right, Uh, then if they can do that,
Speaker 1: they could probably win. And at least in the public
Speaker 1: court of opinion. That's the message they're sending, even if
Speaker 1: it doesn't get approved. You know, the message is out
Speaker 1: there now. That's that's the direction they're headed. Is an
Speaker 1: executive order, so fun they don't even need to have, um,
Speaker 1: you know, the approval of the mom Uh. Yeah. Well,
Speaker 1: and there's even more coming, which uh I know Kyle
Speaker 1: and Jesco was kind of talking about with both of
Speaker 1: you offline, which maybe we can dip into it a a
Speaker 1: little bit. I want to which is a Biden and
Speaker 1: Jen Psaki and being the mouthpiece for Biden's talking about
Speaker 1: a fundamental change to the economy. And I'm saying, if
Speaker 1: you could watch me here on the on the radio,
Speaker 1: I know you can't, but I'm putting up air quotes
Speaker 1: a fundamental change to the economy. Now where have we
Speaker 1: heard the fundamental change? Where where did that first come in? Well,
Speaker 1: if you have a good memory, or if you're old
Speaker 1: enough to remember, that was two thousand twelve, our good
Speaker 1: old buddy Obama came in and promised on his campaign
Speaker 1: trial that he would fundamentally change America. Now what does
Speaker 1: that mean? Fundamentally change the foundation as in the culture,
Speaker 1: the values, the principles, everything. And so now we're hearing
Speaker 1: the vice president, who would be a quote transitional candidate
Speaker 1: to come yeah. Yeah, And so they're talking about a
Speaker 1: fundamental change the economy and uh, basically what we have.
Speaker 1: And so we've seen Jen Psaki saying this. I have
Speaker 1: this video clip. I can't play it obviously here we're
Speaker 1: on video, but I'm gonna read a quote the press.
Speaker 1: This is Jen Ssaki talking at a White House pressor.
Speaker 1: The President wants to make fundamental change in our economy
Speaker 1: and he feels, coming out of the pandemic is exactly
Speaker 1: the time to do that. Oh what what's that about.
Speaker 1: Don't let a crisis go to waste? Right, Yeah, well
Speaker 1: now that the moral high ground to just do whatever
Speaker 1: they want with no accountability. So yeah, yeah, and they've
Speaker 1: got mass they've got mass compliance. Kick us while we're down,
Speaker 1: you know. Uh, we're all freaked out to travel right
Speaker 1: right now, We're all freaked out to go anywhere. Social distancing,
Speaker 1: I mean, there's so much fear in the market right now.
Speaker 1: Now is the time. Yeah, there was ever a time
Speaker 1: to do it, be now. You know. So you've heard
Speaker 1: this talk about this fed coin, a central bank digital
Speaker 1: currency coming UM and uh, the head of the o
Speaker 1: c C, the Office of the Compatroller, the one that
Speaker 1: runs the currency UM used to be pushing this forward.
Speaker 1: And now President Biden gets to elect a new one,
Speaker 1: and he's nominated somebody to come take over that position. UM.
Speaker 1: A lady, a wonderful lady who's an actual communist, a
Speaker 1: self proclaimed radical UM professor Salamarova. And when I say
Speaker 1: an actual communist, I don't mean that as in like
Speaker 1: cardcare and communists. I mean actually graduated from Soviet Union's
Speaker 1: Moscow State University in nine and was on the lenin
Speaker 1: Personal Academic scholarship. I mean an actual UM, I mean
Speaker 1: an actual communist. She she praised the USSRS economic system
Speaker 1: as quote some ways superior to our own, and she said,
Speaker 1: quote the market doesn't always know best. So I guess
Speaker 1: a couple of guys in in bureaucracy do. And she's
Speaker 1: proposed something that has a relationship to bitcoin that I
Speaker 1: think that everybody needs to know about UM and it's
Speaker 1: part of the fundamental change to the economy and to
Speaker 1: the banking system and to the FED poin you guys
Speaker 1: heard about this, do you guys know what I'm teasing? Dude,
Speaker 1: you've been telling me about the CBDC since that's the
Speaker 1: first I've heard about it was you know, you sounded
Speaker 1: like a conspiracy theorist about five years ago, and now
Speaker 1: here we are reading it in the mainstream news. So scary.
Speaker 1: It's all a conspiracy until Ustart's going through. That was
Speaker 1: before the intentional assassination of the US dollars. So I
Speaker 1: feel like they're paving the pathway to get to their
Speaker 1: fed coin for people to, you know, because what if
Speaker 1: we all go to the banks and try to pull
Speaker 1: out our cash all at once, all these things, like
Speaker 1: what are they gonna do. They're gonna come rescue us
Speaker 1: with a fed coin, because that's what they're trying to
Speaker 1: get us too. Anyway. Yeah, so what's interesting about that,
Speaker 1: UM is well, they're actually they're proposing something that pushes
Speaker 1: the central bank digital currency and could actually eliminate something
Speaker 1: like exactly what Jessica just proposed. I want to tell
Speaker 1: you about that as soon as we get back, because
Speaker 1: this is big news. I think it's big for bitcoin especially,
Speaker 1: but it's also important because if you care about your wealth,
Speaker 1: you need to know. But uh, they want to they
Speaker 1: want to eliminate that possibility of happening. I've often been saying,
Speaker 1: and actually we saw do you guys remember when the
Speaker 1: U during the election. Every time every time Obama Obama's
Speaker 1: election cycle pops up, we see the rise of BLM.
Speaker 1: And BLM was saying that, hey, a better revolution, a
Speaker 1: better protest, would be to go pull your money out
Speaker 1: of the bank. And I've often saying, I mean, there's
Speaker 1: millions of people marching all around the world right now,
Speaker 1: this very second today, and would be more important than
Speaker 1: going out and marching would be just go pull your
Speaker 1: money out of the bank. But they want to stop
Speaker 1: that from happening. I want to talk about what they're
Speaker 1: trying to do, what she is specifically doing. I I
Speaker 1: have a quote from her that I'm gonna read that's
Speaker 1: gonna shock you. I'm gonna say this quote. It's gonna
Speaker 1: shock you as soon as I get back. You're listening
Speaker 1: to the Mark Mo Show. We're talking about bitcoin, cryptocurrencies,
Speaker 1: the decentralized revolution, and what the government's doing to try
Speaker 1: to push adoption. I'll be right back, all right, everyone,
Speaker 1: welcome back. You are listening to the Mark Mo Show,
Speaker 1: and we're talking about bitcoin, cryptocurrencies and the decentralized revolution.
Speaker 1: And I aways say it all the time, and I'm
Speaker 1: sorry if you hear it all the time, but this
Speaker 1: is the biggest opportunity that you'll ever have in your life.
Speaker 1: Do not miss it. Tune in each and every week
Speaker 1: so you can get the information you need to take
Speaker 1: advantage of this. I am in the studio with two
Speaker 1: of my really good friends right now, Kyle Wonderley and
Speaker 1: Jessica Van. You can find Jessica and on Twitter at
Speaker 1: Jessica Vaughan. And of course Kyle is uh something really
Speaker 1: long and hard to say. Red stuff with super red
Speaker 1: stuff with underscores in between the words and and of
Speaker 1: course I am one Mark Moss. Just the number one
Speaker 1: Mark Moss. Send us a message, say you heard us
Speaker 1: on the radio. We are talking about Biden's new UM
Speaker 1: pick for the controller of the currency. She's a literal communist,
Speaker 1: meaning she's actually from Russia, She's not from the United States.
Speaker 1: Um And she said that the U S s rs,
Speaker 1: the U S s are the communist Russia. Their economy
Speaker 1: was better than ours America. And in her own words,
Speaker 1: I'm gonna give you a quote here. The core idea
Speaker 1: this is a quote. The core idea here is allow
Speaker 1: a US citizens and lawful residents, local governments, not making firms, etcetera,
Speaker 1: to open transactional accounts directly with the Federal Reserve. What wait,
Speaker 1: citizens open banks directly with the federal Reserve. Let me
Speaker 1: let me continue thus bypassing private depository institutions. So she's
Speaker 1: talking about an eliminating banks as we know it. Let
Speaker 1: me go on. She said. This is a variation on
Speaker 1: the familiar FED accounts or the FED coin or the
Speaker 1: digital wall digital dollar wallets. FED accounts can be made
Speaker 1: available as an alternative to bank deposit accounts. So what
Speaker 1: she's saying is well, in her own words, by passing
Speaker 1: private depository institutions. So basically, the Federal Reserve gives deposits
Speaker 1: to the banks, the bank's loan money into existence. She
Speaker 1: wants to eliminate that, and we would have deposits directly
Speaker 1: with the Federal Reserve. And so, as I think Jessica
Speaker 1: was talking about earlier, we could just go pull our
Speaker 1: money out of the banks. But if we don't actually
Speaker 1: have money to pull out the banks, we literally just
Speaker 1: have a credit, a digital credit on the Federal Reserves ledger.
Speaker 1: They just block your chap. I mean, it's just a credit.
Speaker 1: What are you gonna do? Are you gonna put your
Speaker 1: money out of the bank? Yes, yeah, that's why, uh
Speaker 1: you know, And I bought bitcoin to have a um
Speaker 1: to participate in a parallel economy that I think is
Speaker 1: going to develop as more and more people are removed
Speaker 1: from the financial in the financial um, the banking system,
Speaker 1: I suppose, you know. And there's a lot of people
Speaker 1: like that in the world already that are unbanked. So
Speaker 1: bitcoin provides an opportunity to uh not play these people's
Speaker 1: games when it's innately goes against my morals. Patro dollar
Speaker 1: goes against my morals and beliefs. Yeah. I guess if
Speaker 1: I can just interject one thing that I'm seeing as
Speaker 1: a positive here, I mean it's not. It's not never
Speaker 1: positive to have so much oversight over all of your transactions,
Speaker 1: and you know, to have the federal government know exactly
Speaker 1: how much you have and what you're spending your money on.
Speaker 1: But I kind of feel that right now anyway you
Speaker 1: have your money at Wells Fargo Bank of American Bank,
Speaker 1: then you have you have all that anyway, right, so
Speaker 1: it's just a different set of eyeballs. I guess if
Speaker 1: you're going to remove the middleman, you're going to remove
Speaker 1: the banks, the commercial banks, and you go straight to
Speaker 1: the Fed, then I guess the only positive takeaway that
Speaker 1: I have from that is then you don't have the
Speaker 1: mass you know, tend to one leverage every dollar that
Speaker 1: a bank has on deposit and lend out ten or twenty.
Speaker 1: I don't even know what the ratio is, but it's
Speaker 1: at least ten, right, So you have this these uh,
Speaker 1: it's inflationary. That system is inflationary. When you say it's
Speaker 1: kind of like what we have right now, do you
Speaker 1: mean a sense where you can go to the bank
Speaker 1: and the bank and say no, you can't withdraw your money.
Speaker 1: Is that what you mean? No, I'm saying, okay, I
Speaker 1: go to the bank. The bank. The bank has one
Speaker 1: dollar on reserve for every ten dollars that can lend out, Right,
Speaker 1: that is done away with. It sounds like if you
Speaker 1: cut out the banks and go straight to the FED.
Speaker 1: We've already carried that out to the farthest degree that
Speaker 1: it can be, which is why they talk about wanting,
Speaker 1: you know, the financial reset. I'm confused as to what
Speaker 1: the FEDS motivation would be too. I mean, it sounds
Speaker 1: like some sort of providing an alternative to people using
Speaker 1: traditional banking. What would the FEDS incentive be for that,
Speaker 1: you know, because they're a separate institution. They're not a
Speaker 1: for profit they're not assari provider to the people there.
Speaker 1: Well they want to be, they are. Well, that's strange
Speaker 1: to me because, um, you know, they're basically just the
Speaker 1: privatized financial department of the government, so that we as
Speaker 1: the people could never audit the FED. That seems to
Speaker 1: be the purpose of it being an independent body. So
Speaker 1: what could they get out of trying to then? Now,
Speaker 1: engage in the commercial market. Well, what they want to
Speaker 1: do is that so in times of need, like in
Speaker 1: the pandemic of last year, the FED really can't put
Speaker 1: money out into the economy. So we talk about printing money,
Speaker 1: The FED can't really print money. What the FED can
Speaker 1: do is they can give reserves to the banks, and
Speaker 1: then when the banks lend that money out, it creates
Speaker 1: that turns that money into existence. And so they give
Speaker 1: the bank's money through que and they give them reserves,
Speaker 1: but then the banks don't lend it out, so no
Speaker 1: money actually gets into the economy. And so um, Well
Speaker 1: that's also because the banks pick and choose who they
Speaker 1: you know, people that are high risk of it are
Speaker 1: you know, essentially um unbanked now they're too high risk,
Speaker 1: they don't want to but so that goes against government's
Speaker 1: idea of wealth redistribution that this particular agenda, um, this
Speaker 1: administration is after. But what they want to do is
Speaker 1: if you have a bank, if you Jessica Kyle had
Speaker 1: a bank account directly with the FED, the FED could
Speaker 1: just click a button and put money directly into your account,
Speaker 1: which they can't do right now by going through the
Speaker 1: banking system. Because commercial banks pick and choose who they'll
Speaker 1: lend to, right exactly, and well, and there's and there's
Speaker 1: the legal me there's no legal mechanism or pathway for
Speaker 1: them to do that. The other thing that it does
Speaker 1: is we're on this trend of centralization obviously, right we're
Speaker 1: trying to get rid of all the mom and pop
Speaker 1: we're trying to get rid of all the options and
Speaker 1: has centralized everything. So um, right now, banking is still
Speaker 1: a little bit decentralized where I can go to my
Speaker 1: local farmers or merchants or my local bank and say, hey,
Speaker 1: I want this loan, and because he knows me locally,
Speaker 1: knows my local ERAa, he has local information. He could
Speaker 1: give me a loan or not. That's local, that's essentialized information.
Speaker 1: They want the FED to be the only one to
Speaker 1: make the decision who gets money and who doesn't, so
Speaker 1: they compress the stack, just like they're getting rid of
Speaker 1: mom and pop retailers to go to Walmart kind of
Speaker 1: a thing. Well, I'd essentially be in favor of of
Speaker 1: doing something that provides market competition because there is so
Speaker 1: many unbanked, unbanked people that that need, you know, loans
Speaker 1: to buy homes. All these things. I just don't understand
Speaker 1: the FED doing that because obviously they're they're trying to
Speaker 1: put home ownership in some sort of government control, you know,
Speaker 1: using black rock as a way to control the housing
Speaker 1: market and get get more private ownership out of single
Speaker 1: family home ownership. So I'd be all for it if
Speaker 1: it if it actually gave um lesser financially prepared young
Speaker 1: people and opportunity to get the loans they need. But
Speaker 1: because government is never there's never the altruism in play,
Speaker 1: It's not ever really a good thing. So I'm concerned
Speaker 1: about it in that way. Yeah, it's like, this makes
Speaker 1: me think about what the true motive is for the
Speaker 1: FED doing this. It's uh, you know, they're gonna do
Speaker 1: it under the guys of making things more efficient. We're
Speaker 1: gonna make it easier for for us to give you stimulus,
Speaker 1: to give you P P P to get every every
Speaker 1: stimulus has to go through the banks. They want to
Speaker 1: cut out the middleman. But what's the what's the real motive,
Speaker 1: what's the real driver, the the real benefit to the Fed? Dude,
Speaker 1: That's what's scary. The real benefit is not about yes,
Speaker 1: now they can turn you off, y. Yeah, now they
Speaker 1: turn you off whenever they want to. You want, you
Speaker 1: want your freedom, you want to go to another country,
Speaker 1: we turn you off. And so yeah, so let's talk
Speaker 1: about bitcoin, because that's why I'm in bitcoin too, Like,
Speaker 1: that's that's why I'm out, you know, to what two
Speaker 1: years ago, let's just less than two years ago. I
Speaker 1: went out of the banks because I saw the writing
Speaker 1: on the wall and the only reason I have to
Speaker 1: keep that account is to pay my freaking mortgage. I
Speaker 1: can't wait. Tell there's a way for me to pay
Speaker 1: my mortgage with bitcoin. So talking about bitcoin, I want
Speaker 1: to transition a little bit um, you know, just just
Speaker 1: just one thing I want to add though, why would
Speaker 1: they want to take control of that? Well, currency and
Speaker 1: lending are the engines of capitalism. Currency and lending are
Speaker 1: the engines, and so they want to take control of
Speaker 1: the engine, decide which projects get money which projects don't.
Speaker 1: It's total control, right, It's a communist thing. But what
Speaker 1: I want to come back and I want to talk
Speaker 1: about is is this bad for bitcoin? Uh? Does central
Speaker 1: bank digital currencies take away the need for bitcoin? Or
Speaker 1: does it only push bitcoin adoption further? So I want
Speaker 1: to talk about that. When we get back. UM, I
Speaker 1: think a lot of people actually think that central make
Speaker 1: digital currencies could be bad for bitcoin, which it could.
Speaker 1: Maybe maybe there's no way that you can transfer your
Speaker 1: central maink digital currency to Bitcoin, so maybe that's the case,
Speaker 1: or maybe it pushes the need. We'll talk about that
Speaker 1: when we get back. Um, you are listening to the
Speaker 1: Mark Moss Show. Um, in my in the studio with
Speaker 1: my good friends Kyle Wonderley and Jessica Vaughan at Jessica
Speaker 1: Vaughan and at super Rad Kyle stuff stuff at super
Speaker 1: Ad Stuff. Sorry about that. You're listening to Mark Mos Show.
Speaker 1: We're gonna be right back talking about the coming central
Speaker 1: bank digital currency and whether it's good or bad for bitcoin.
Speaker 1: We'll be right back. Hey everyone, welcome back. You are
Speaker 1: listening to the Mark Mos Show and we are talking
Speaker 1: about bitcoin, cryptocurrencies, the decentralized revolution. This is something you
Speaker 1: don't want to be missing. You need to tune in
Speaker 1: each and every week, So pull out your phone, put
Speaker 1: a reminder for this station, this time, this channel. Of course,
Speaker 1: if you ever missed me, you missed part of me.
Speaker 1: You want to hear more of me. Check it out
Speaker 1: on the iHeart Podcast. Network. I'm in the studio studio
Speaker 1: with my two good friends, Kyle Wonderley and Jessica Vaughan,
Speaker 1: and we are talking about a fundamental change to the economy,
Speaker 1: a takeover of the banking literally collapsing the entire banking stack.
Speaker 1: Biden's nomination for the new head of the currency wants
Speaker 1: to do a Soviet style takeover. She's a little literal
Speaker 1: literal communist. I mean she's from Russia, literally miss Almarova,
Speaker 1: and she wants to fundamentally change it. And she says
Speaker 1: that they want to roll out a central bank digital currency,
Speaker 1: so we have to pausits directly with the FED, and
Speaker 1: then there's no more banks, there's no decentralization in the banking.
Speaker 1: And I posed the question before we came went to
Speaker 1: break and I want to find out from Kyle and Jessica.
Speaker 1: Is going to a central bank digital currency where the
Speaker 1: FED controls what you can and can't buy, UH controls everything,
Speaker 1: UM controls the engines of capitalism. Is that good or
Speaker 1: is that bad? For Bitcoin? Well, one one thing that
Speaker 1: you mentioned that I hadn't even thought of until you
Speaker 1: just said it was the ability that they may have
Speaker 1: to stop you from buying certain things. And my whole
Speaker 1: opt out of this system is bitcoin. I've got to
Speaker 1: have to be ability to buy bitcoin. So that would
Speaker 1: be my biggest fear is, Okay, they could they know
Speaker 1: how much money you have, and they're gonna also be
Speaker 1: able to say what you can spend your money on
Speaker 1: and what you can't, so if we can't, So that
Speaker 1: would be a fear for any bitcoiner is thinking that
Speaker 1: the government could have so much control that they can say, well,
Speaker 1: you can't spend this money that everybody else believes in
Speaker 1: on your bitcoin. Yikes, you stunder with that one. She
Speaker 1: for the first time I've ever seen her speechless on that. Yeah,
Speaker 1: maybe maybe we'll just have to go to live in
Speaker 1: El Salvador, because I know they're not gonna do They're
Speaker 1: not gonna deal with the CBDC and maybe obviously you
Speaker 1: know you have to be stacking your SATs now. Yeah,
Speaker 1: I don't think I was in my mind exploring the
Speaker 1: idea that perhaps um, the government was just is just
Speaker 1: writing piggyback off um what the free market did with
Speaker 1: creating crypto, and they're just using it as like a
Speaker 1: beta test to see um work out any problems with
Speaker 1: coming fed coin. That might be an interesting consideration as
Speaker 1: to why they're tolerant of crypto right now and they're happy.
Speaker 1: I remember like that you still feel free if you
Speaker 1: have a way to feel like you can save yourself
Speaker 1: with your own financial decisions, and they don't want any like,
Speaker 1: you know, kinetic problems with people right now. Right. So
Speaker 1: if you feel like you're not, if you you don't,
Speaker 1: you stop being When you stop feeling free is when
Speaker 1: they you know, statistically know that problems have civil wars
Speaker 1: come from that type of thing. I think about it, like, um,
Speaker 1: I think about it again. I always try to kind
Speaker 1: of go back to the incentives. So when the president
Speaker 1: starts talking about banning guns, guns cells skyrocket right. Smith
Speaker 1: and Wesson stock went up faster than a cryptocurrency is
Speaker 1: like a thousand percent up this year right or last year. Um.
Speaker 1: And so when the government says, hey, don't do drugs, well,
Speaker 1: it doesn't really make you want to go do them. Um.
Speaker 1: But when they say, hey, you don't have a right
Speaker 1: to store your wealth in a way that we can't
Speaker 1: caese or steal from you, that kind of makes me
Speaker 1: want to go do that. And so I think, um,
Speaker 1: it definitely changes the incentive structure which makes me want
Speaker 1: to go into that currency better are faster. I think
Speaker 1: back to the kind of the point Kyle you were
Speaker 1: hitting on. They could prohibit me because it's programmable money,
Speaker 1: where they could actually prohibit me from transferring to coin
Speaker 1: base to buy bitcoin, right, they could say nope, that
Speaker 1: that transaction is blocked, but they couldn't prevent me from
Speaker 1: buying something else that then I could trade for bitcoin, right,
Speaker 1: And so there's always gonna be a way. They're always
Speaker 1: gonna love Ship, They're always gonna love doach coin and Ship,
Speaker 1: and they're always gonna love whatever cells on coin Base
Speaker 1: if you want to go into that. You like we
Speaker 1: were talking this morning, why are these meme coins getting
Speaker 1: so much love from coin base? D gen gamblers, coin
Speaker 1: based profits off of the production. Of course that's why. Yeah,
Speaker 1: and the taxman loves coin Base, and the and the
Speaker 1: Taxman loves uh. You know, a bunch of dumb people
Speaker 1: buying meme coins that don't have any value, utility, or
Speaker 1: anything because they're the easiest people to get the Money
Speaker 1: Act from. I think. Look, I think the reason that
Speaker 1: they said we don't have any intention on banning bitcoin
Speaker 1: and crypto that use crypto in the same sentence. I
Speaker 1: think that gave you know, the all coins some massive
Speaker 1: attention and you have a lot. Ever since, the meme
Speaker 1: coins have been taking off again and the government is
Speaker 1: looking for ways, they're looking for sources of revenue. We've
Speaker 1: got to pay the pandemic. That you got to pay
Speaker 1: this pandemic off somehow, and I let all the let
Speaker 1: let all the all coins pump and then yeah, we'll
Speaker 1: just taxi unrealized gains. That's right, that's it. That's that's
Speaker 1: what I think it. That's what I think it is.
Speaker 1: So I feel bad. I've been warning all my friends
Speaker 1: don't buy from coin base. You know, anything that get
Speaker 1: lits gets listed on coin based pumps, because that's the
Speaker 1: easiest way for the government to get your information. Coin
Speaker 1: bast coin Base has always been in bed with the regulators.
Speaker 1: They don't want you to have hedges against inflation to
Speaker 1: protect yourself. They want you to feel it because it's
Speaker 1: about um us all being on our knees so that
Speaker 1: we can forfeit more privacy, so that government can get bigger,
Speaker 1: because that's what all these policies are designed to do. Yeah,
Speaker 1: you don't want to talk about all coins, well, I
Speaker 1: think a lot of it comes from the government's unintended consequences.
Speaker 1: It's something called the cobra effect. I don't know, you
Speaker 1: guys familiar with the cobra effect, Yeah, only from you.
Speaker 1: But the super short version of the cobra effect is
Speaker 1: in India, they had a bunch of cobras, and cobras
Speaker 1: the dead they obviously, so the government said, hey, we'll
Speaker 1: pay everyone to go kill a cobra if you bring
Speaker 1: it in and we'll pay you. So people would and
Speaker 1: kill the cobras and they brought him and they got paid.
Speaker 1: But some people were like, well, shoot, I'll just raise cobras.
Speaker 1: I can raise a whole bunch and I'll just start
Speaker 1: bringing them in. And everyone was raising cobras to sell
Speaker 1: the government. The government's like, what the heck Now people
Speaker 1: are raising them, like, we're done with this, like in
Speaker 1: the program and all the people that are raising the
Speaker 1: cobras that all these covers, they just let them all go,
Speaker 1: and then they had more covers than they started the
Speaker 1: program with. Uh. So it's like these unintended consequences and
Speaker 1: I think like the government is trying to protect people
Speaker 1: from investing like go to your point car, like go
Speaker 1: buy as many Lar tickets you want to go gamble
Speaker 1: as much as you want. But how dare you buy
Speaker 1: an early round in uber or something? Right? Uh, so
Speaker 1: that's only for credit investors. Once it gets to the
Speaker 1: public market, they can dump on everybody else. And I
Speaker 1: think people are so desperate to get in something early
Speaker 1: that these Chibu new coins give them that opportunity. And
Speaker 1: so it's the unintended consequence of the government trying to
Speaker 1: protect people only hurts them even more. Probably it's not
Speaker 1: that all coins are are destructive, it's just not at all.
Speaker 1: It's a distraction for people to um deviate from the value,
Speaker 1: the social value that bitcoin provides. That's my only problem
Speaker 1: without all coins is because I'm here for a financial revolution,
Speaker 1: So I don't innately care that people want to go
Speaker 1: do casino stuff or have have fun. Cryptos just fun
Speaker 1: because it's another game. Then I don't really care. I mean,
Speaker 1: we haven't like it's taking so many trillions of dollars
Speaker 1: out of the US dollars that were collapsing or something.
Speaker 1: Yes to each his own, Like, I'm not gonna hate
Speaker 1: on the gamblers. There's a reason, there's that people aren't
Speaker 1: going to Vegas right now. Vegas is terrible. You're gonna
Speaker 1: sit there with a mask on and play rolette or
Speaker 1: play cards without a mask on. You can't read people's
Speaker 1: faces right now in Vegas. People are going to Vegas
Speaker 1: and they're not wearing masks in the casino. Yeah, as well,
Speaker 1: that's why. That's also why we've got you know, all
Speaker 1: the degenerate gamblers went online and they went to coin
Speaker 1: base and they went might have been a consequence of
Speaker 1: them getting locked in their homes that they did that,
Speaker 1: and they have nothing better to do. But the government
Speaker 1: wants to push us towards a digital economy, so they're
Speaker 1: quite fine with whatever you make it doesn't involve creating
Speaker 1: physical things, you know, that's what the whole the whole
Speaker 1: problem with them, the supply chain getting broken on purpose,
Speaker 1: all these things. They would rather you funnel all your
Speaker 1: effort and energy and finances into a digital economy. I
Speaker 1: think it's also a continuation of the Fiat money system.
Speaker 1: So the Fiat money system incentivizes Fiat money is a
Speaker 1: system of theft, lies and deceit, and in incentivizes that.
Speaker 1: And so we're continuing to see the effects of Fiat money.
Speaker 1: We're seeing Fiat food. They're taking shortcuts in our food,
Speaker 1: putting food additives and giving us worse quality of food.
Speaker 1: And everybody's looking for a shortcut in today instead of
Speaker 1: building value, providing valuable goods and service. I'll just go gamble, right,
Speaker 1: everybody's looking for that shortcut. And I think that's just
Speaker 1: a continuation. It kind of symbolizes where we're at as
Speaker 1: an economy. That's the entire of the market. Yeah, it's
Speaker 1: a it's a it's a combination of the stock market.
Speaker 1: But we have to wrap this thing up. We're talking
Speaker 1: about bitcoin, cryptocurrencies and the decentralized revolution. You listen to
Speaker 1: the Mark Moss Show. Um, we're here every week bringing
Speaker 1: you the most up to the information. Put this on
Speaker 1: your calendar. If you miss some of this, find it
Speaker 1: on the I Heart Radio podcast network. UM. I'm in
Speaker 1: the studio with my good friends Jessica Vaughan and Kyle
Speaker 1: Wonderley at Jessica Van at super Rad Stuff, and I'm
Speaker 1: Mark Moss and I'll see you next week.