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Speaker 1: From UFOs to psychic power. Since government conspiracies history is

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Speaker 1: riddled with unexplained events, you can turn back now or

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Speaker 1: learn the stuff they don't want you to know. Hello,

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Speaker 1: welcome back to the show. My name is Matt a

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Speaker 1: k A Daddy two hands, and my name is Noel

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Speaker 1: a k. A big money hustler dollar billboy Brown. Oh

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Speaker 1: I thought they were calling you flashback. I'll take it. Oh, well, anyhow,

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Speaker 1: I stacked them. I stacked nicknames like I stacked my duckets.

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Speaker 1: There we go frequently high. Yeah. Hello, ladies and gentlemen,

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Speaker 1: they call me Ben. You are you that makes this

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Speaker 1: stuff they don't want you to know? Uh, this will

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Speaker 1: be an episode with many nicknames involved, right. Uh. This

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Speaker 1: will be an episode where instead of too much of

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Speaker 1: an anecdote at the beginning, we're going to jump right

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Speaker 1: into it. This is a strange question. Uh. And we

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Speaker 1: even thought of a little bit of a theme song

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Speaker 1: to introduce it, which no, if you'll, well, we gotta

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Speaker 1: do it together. We we couldn't get clearance from the

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Speaker 1: o JS. Guys, let's do Okay, so we'll do We'll

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Speaker 1: change it up slightly, okay, um, dollar dollar, dollar dollar,

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Speaker 1: And then you gotta go, then you go. Dollar Yeah yeah, okay,

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Speaker 1: yeah yeah, that works, that works. I think I think

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Speaker 1: we're you see what we should we have to be

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Speaker 1: disposed of, uh perhaps, but we will finish this episode,

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Speaker 1: even if they're dragging us out to be shot one

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Speaker 1: by one. Today's episode is about money. The scratch, the cheese,

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Speaker 1: the cheddar, the moon law, the bucks, the dollars, the Benjamin's,

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Speaker 1: not to be confused with bend bucks, the gibraltars, the

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Speaker 1: gray ends. I'm just looking for slang for money here.

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Speaker 1: Uncle Jimmy's folding papers. That's my favorite so far. Well, yeah,

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Speaker 1: let's let's just get the badger out of the back here.

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Speaker 1: Today's episode ask whether money is a religion? Womp them wompom. Yeah.

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Speaker 1: See here, I'm stuck. I'm stuck on that question. Is

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Speaker 1: money a religion? That's that's intense. It all go back

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Speaker 1: to that old saying. Is that the root of money

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Speaker 1: is the love of all things good in the world.

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Speaker 1: Isn't that how it goes? Something to that effect or

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Speaker 1: or the the love of money is the root of

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Speaker 1: the problem, right, or the love of money is the

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Speaker 1: root of all evil? Is much more positive? Sound? I

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Speaker 1: feel like yours was much more positive. Maybe this saying

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Speaker 1: comes from a a more negative earlier time. That's fair.

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Speaker 1: You know, we can we can take it to the

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Speaker 1: Bible if you want to. I've got a verse here

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Speaker 1: from the King James version from Luke. You want to

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Speaker 1: go said, this is the dam show. This is Luke

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Speaker 1: sixteen thirteen. It says no servant can serve two masters,

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Speaker 1: for either he will hate the one and love the other,

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Speaker 1: or else he will hold to one and despise the other.

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Speaker 1: Ye cannot serve God and mammon. Now you might be

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Speaker 1: asking yourself, what the heck is a mammon? What the

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Speaker 1: heck is a mamon some sort of gland. Well, it's

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Speaker 1: a word that refers to either the physical wealth like riches,

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Speaker 1: or to the emotional state of greed. And interestingly enough,

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Speaker 1: in the Middle Ages we're talking Europe five century to

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Speaker 1: like fifteenth century, that name mammon was commonly referred to

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Speaker 1: as an actual deity, a demon, a demon of wealth

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Speaker 1: and greed. Right, yes, so we see that there is

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Speaker 1: a little bit of an entire well, little bit is

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Speaker 1: an unfair We say that there is clear antagonism throughout

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Speaker 1: civilization between organized religions and uh financial power, although the

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Speaker 1: two are very much linked in many cases their fingers

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Speaker 1: on the same hand. So to some people listening, this

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Speaker 1: is and an offensive question, right, how how dare you

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Speaker 1: or if we want to get old biblical with it,

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Speaker 1: how dare ye uh compare something worldly with something spiritual,

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Speaker 1: especially if you're you know, a fairly wealthy person, especially

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Speaker 1: you know, by any comparative standard, but you also feel

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Speaker 1: deeply religious and that's not just you know, and that

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Speaker 1: that's not just Christianity. We're talking overall spiritual religious practices.

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Speaker 1: To others, the question maybe irrelevant. They may say, well,

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Speaker 1: I am an atheist, right, I don't. I don't believe

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Speaker 1: in any of this stuff, so it as a matter

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Speaker 1: to me if money is considered a religion. But the

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Speaker 1: three of us think this is a pretty interesting, dare

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Speaker 1: we say? Fascinating question, and we've been going back and

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Speaker 1: forth on it for some time now. So first things first,

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Speaker 1: let's let's define money. What do we mean when we

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Speaker 1: say something is money? What is what's money? I mean

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Speaker 1: it's like a thing that represents another thing that that

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Speaker 1: says I'm I have the power to this much power? Nuggets? Sure, Yeah,

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Speaker 1: let me read off the outline. What says here. It's

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Speaker 1: a measure of value, a means of payments, a current

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Speaker 1: medium of exchange in the form of coins and banknotes

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Speaker 1: known as currency. Okay, this one, this is better. We

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Speaker 1: should go with this. I don't know, I like the

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Speaker 1: opening because I'm kind of into this power nuggets power.

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Speaker 1: I mean, I just feel like money in general. That

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Speaker 1: that if you if when thought about in a certain way,

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Speaker 1: the question what is money can be pretty an existential

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Speaker 1: you know. But we'll get to that. We'll get we'll

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Speaker 1: get to the we'll get weird with it in a

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Speaker 1: little bit. So one way we could explain this concept, uh,

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Speaker 1: this measure of value is uh that I've got a

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Speaker 1: beautiful and oversimplified way to explore it. So let's think

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Speaker 1: of money maybe as well. People say money is debt, right,

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Speaker 1: essentially it is. But let's think of money as a

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Speaker 1: representation of effort over time. And we can practice this

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Speaker 1: equation in a hypothetical day to day life. For example,

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Speaker 1: let's say let's say one of us has a has

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Speaker 1: a job where you make sixty an hour. I'll take

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Speaker 1: it pretty sweet gig, right, sure, yeah, our our producer,

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Speaker 1: our producer is also nodding. I think Gallex is in

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Speaker 1: uh so, sixty bucks an hour pretty sweet gig just

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Speaker 1: to fill out this hypothesis or this daydream. So what

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Speaker 1: does somebody do where they would make sixty bucks an hour? Sailor?

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Speaker 1: That sounds pretty good, okay a sailor. So, uh, this

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Speaker 1: means that if if Nolsons is your idea, we'll have you.

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Speaker 1: Is the example. So Noel is a sailor, uh, and

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Speaker 1: you make sixty dollars an hour. This means each dollar

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Speaker 1: Noel possesses represents one minute of labor. Now, let's say

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Speaker 1: Noel goes and buy something for five dollars, like the

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Speaker 1: latest issue of Mad magazine or a really sweet advisor?

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Speaker 1: Is that is Mad Maxine? Only five dollars? I think

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Speaker 1: it's actually less. I'm not sure I need to start

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Speaker 1: picking that up again. Well, if you if you're nol

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Speaker 1: the sailor, and you pay five dollars for this, you

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Speaker 1: are literally spending five minutes. Only a sailor would read

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Speaker 1: that trash? Are you serious? Bite thy tongue curse like

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Speaker 1: a sailors sailors? N Yeah, no offense sailors. That was

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Speaker 1: a very anachronistic conception of the sailor's life. People, it

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Speaker 1: makes you wonder why we say. You know, this comparison

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Speaker 1: is wildly oversimplified, but it makes you wonder why we

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Speaker 1: say things like spend time or pay attention. You know,

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Speaker 1: and the three of us have often talked about this

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Speaker 1: off air too, when we're hanging out about what the

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Speaker 1: most important currency of our ages and for us as

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Speaker 1: podcasters and producers, the most important currency is really time. Sure, no,

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Speaker 1: but most of us remember the age of purely physical currency, right,

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Speaker 1: We're most most of us listening are old enough to

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Speaker 1: remember that there was a time before digital currency. Yeah,

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Speaker 1: my parents would only bring out the credit card if

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Speaker 1: we're gonna make some huge purchase, like a refrigerator or

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Speaker 1: something that we had to fix in the house. Otherwise

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Speaker 1: it was cash. Or if you needed to buy more

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Speaker 1: mattresses to keep your money in because the other ones

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Speaker 1: you feel you ran out of space. That happened, yeah

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Speaker 1: for you, for you, your family didn't. Yeah, we're sorry.

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Speaker 1: I had to find out about it this way. Didn't

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Speaker 1: you ever wonder why they had so many mattresses? I

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Speaker 1: thought we'd just would like to be really comfy. Yeah,

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Speaker 1: I guess, and both physically and uh, you know the

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Speaker 1: other way. Actually, Okay, so our ancestors may not have

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Speaker 1: been familiar with the concept of banknotes, but paper money

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Speaker 1: is only one late stage of the same concept. In

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Speaker 1: the past, people use all sorts of stuff to represent

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Speaker 1: power nuggets exactly like shells, are you know, shiny stones

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Speaker 1: or I mean that these are I'm just kind of

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Speaker 1: making these up. I know those are both true. Yeah,

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Speaker 1: give me some more, Oh, peppercorns, roof time. See, I

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Speaker 1: can see that because that's sort of a useful item,

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Speaker 1: you know, you can it's one seasoning nugget, you know

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Speaker 1: as well. It's not only a thing for you know,

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Speaker 1: to represent work, it's also you can use it for

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Speaker 1: something just yeah, like gold, which is such a ductile metal.

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Speaker 1: You can take it and shape it into something, you know,

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Speaker 1: which you can't. I mean, I guess you can practice

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Speaker 1: the orgami on a on a dollar bill in much

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Speaker 1: of the West. Now, currency is in a state of

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Speaker 1: transition from a physical to an increasingly digital medium, right. Yeah.

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Speaker 1: This is not even bringing in bitcoins yet. This is

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Speaker 1: just saying that someone could be a millionaire and literally

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Speaker 1: never see the cash, never have the what do. What

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Speaker 1: do you used to call it cash on hand? Yeah,

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Speaker 1: I have the petty cash, cash on hand, all that

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Speaker 1: stuff you're what do they call your liquid all that

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Speaker 1: liquid cash? You know, it's it's so weird because working

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Speaker 1: a job like this back in the day, I used

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Speaker 1: to get a check and I was all excited on

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Speaker 1: paid a because I get a check and go turn

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Speaker 1: it in. And for years and years now, I don't

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Speaker 1: see any of that unless I check my account. You know,

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Speaker 1: it's like it doesn't even exist. There's a picture of

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Speaker 1: a check on there for you. If you desire, you

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Speaker 1: wanted to, you could. You could print them all out

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Speaker 1: and put them in a little scrap book. That's your thing,

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Speaker 1: the checkbook. But it really is strange to think of

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Speaker 1: it as just so in the ether, And yet we

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Speaker 1: still use a lot of the same technology that you know,

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Speaker 1: we used when checks were more prevalent, like routing numbers

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Speaker 1: and the way banks communicate with each other. If you

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Speaker 1: ask me, it's pretty antiquated then. And I had a

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Speaker 1: fun little mix up where I deposited his check into

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Speaker 1: my account because they were identical checks for a thing

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Speaker 1: we did, and he uh had my check and I

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Speaker 1: had his and I was able to deposit it. I

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Speaker 1: used the mobile deposit thing and it went through, and

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Speaker 1: then I was able to deposit my check too. And

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Speaker 1: there's whole conundrum of like, well, who which bank do

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Speaker 1: we call? How do we figure out how to get

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Speaker 1: this money back? I know'm derailing the conversation will be here,

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Speaker 1: but it made me man. It took forever and we

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Speaker 1: only just now got it sorted out barely. Come on, banks,

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Speaker 1: get more digital. I'm afraid of that. Actually, don't do that, banks, please,

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Speaker 1: it's too late. It's too late because it seems like

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Speaker 1: it is an increasingly digital medium, which is weird because

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Speaker 1: if we look currency that used to be or money

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Speaker 1: that used to be based on a tangible commodity, the

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Speaker 1: gold that sits in the bank somewhere. Silver. Yeah, you

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Speaker 1: can take this inget and you can keep it for yourself,

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Speaker 1: or you can carve it into something where you can

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Speaker 1: trade it. Or you can take these peppercorns and you

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Speaker 1: can pay somebody else with it, or or Salt was

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Speaker 1: also used. Mark Klanski has a great book called Salt,

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Speaker 1: where he created. The least creative thing about the book

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Speaker 1: is the name, But it looks at the history of salt,

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Speaker 1: and how Roman soldiers were paid in salt, which is

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Speaker 1: where we get the phrase cough it up to pay

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Speaker 1: for something um or worth his salt, which I don't

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Speaker 1: know if people still say that, I haven't heard in

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Speaker 1: a while, but I guarantee you it exists. So what

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Speaker 1: happens with paper money? What does what does paper money represent?

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Speaker 1: This is what's known as fiat currency, which, rather being

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Speaker 1: like Ben said, being backed by some physical tangible thing,

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Speaker 1: is backed by just the guarantee of the person or

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Speaker 1: entity that issued it. Okay, that's all I mean. It's

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Speaker 1: just I guarantee that this is worth something. Okay, Now

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Speaker 1: you don't have to So it's like a promise, yeah,

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Speaker 1: a promissory note. It's literally an iou, yes, I promisory note.

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Speaker 1: You're right, So, uh yeah, that's that's a great way

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Speaker 1: to put it. It's a promise. Sometimes I've heard it

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Speaker 1: derogatorily referred to as a coupon. I do have to

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Speaker 1: recuse myself here, because again, I do believe in ben

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Speaker 1: bucks as a viable currency. Uh, and I believe that

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Speaker 1: we should all consider starting our own alternative currencies, you know,

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Speaker 1: sure like I would, I would, but you guys would

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Speaker 1: look great on money. You're also a ravenous couponter. That's

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Speaker 1: also that's true. That's true. So this this be odd currency.

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Speaker 1: This idea of issuing it in this way and having

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Speaker 1: money as back to this way. It causes a lot

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Speaker 1: of problems, or it has at least the potential for

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Speaker 1: a lot of problems, depending on the reliability of the issuer. Right. Yeah,

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Speaker 1: and critics argue that this paves the way for massive inflation,

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Speaker 1: along with cover ups and conspiracies. Not to derail us

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Speaker 1: too much, but Matt Nolan, I have been working on

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Speaker 1: a couple of different projects that may or may not

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Speaker 1: come to fruition, and it had us exploring different assassination

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Speaker 1: theories briefly as a symptom of this or as a

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Speaker 1: side effect, okay, as a side benefit. Uh. In the US,

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Speaker 1: one of the most popular conspiracies concerning the assassination of

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Speaker 1: jfk Hinges on Fiat currency's author named Jim mars And

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Speaker 1: in his book Crossfire, he argues that Kennedy was trying

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Speaker 1: to reign in the Federal Reserve, which is the issuing

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Speaker 1: quasi governmental entity here in the US, the one that

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Speaker 1: issues the currency and um Mars says that forces opposed

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Speaker 1: to Kennedy reining in the FED. Uh, they may have

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Speaker 1: played some part in the assassination. Specifically, he alleges that

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Speaker 1: Kennedy issued a thing called Executive Order one one one, one,

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Speaker 1: zero four ones in a zero, two eleven's in a zero.

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Speaker 1: That's the best I can do in an audio show.

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Speaker 1: That he issued this executive order to transfer power from

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Speaker 1: the FED to the Department of the Treasury the way

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Speaker 1: it used to be, replacing these Federal Reserve notes with

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Speaker 1: silver certificates, the kind that say, uh, payable to the

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Speaker 1: bearer on demand by in silver in silver. Uh. That's

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Speaker 1: that's a hugely popular theory. However, just to be fair,

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Speaker 1: critics note that Kennedy was phasing out silver certificates in

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Speaker 1: favor of FED Reserve notes. But this executive order was

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Speaker 1: just a technicality that was only meant to be a

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Speaker 1: temporary measure. Anyway, other people are saying, no, they he

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Speaker 1: tried to take control from the central bankers and they

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Speaker 1: popped him. Well, yeah, And as we know, there are

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Speaker 1: a lot of conflicts between private central banks throughout the

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Speaker 1: world and governments to which those banks are issuing money.

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Speaker 1: It's a it's a thing, and it's a thing. But

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Speaker 1: for right now, in this current age which we record

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Speaker 1: this globally speaking, fiat currency rules the roost. There are

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Speaker 1: other kinds of money. There's representative money, silver, gold certificates

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Speaker 1: like we talked about, redeemable for some amount of metal.

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Speaker 1: And then there's commodity money, which which no, you were

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Speaker 1: you were bringing up here. Some older US coins are

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Speaker 1: actually commodity money, you know, like silver dollars made from silver.

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Speaker 1: You want some silver, you can. You got a dollar's worth,

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Speaker 1: you just melt it down. But that gets weird because

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Speaker 1: then the price of silver changes, and then that one

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Speaker 1: dollar is worth a lot more true or less? Yeah,

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Speaker 1: like the old Do you guys remember the old debate

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Speaker 1: about pennies cost more to manufacture than they're actually worth. Yeah, yeah,

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Speaker 1: And I believe right in And let us know, I

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Speaker 1: believe Canada abolished the penny. The US gets close to it.

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Speaker 1: Our pennies are actually made of zinc, and when prices

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Speaker 1: went up, it costs more than a penny to make

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Speaker 1: a penny. I only ever used pennies when I'm cashing

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Speaker 1: in my jar of coins like that. The coin star

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Speaker 1: at the grocery store, and I never spend pennies. You know.

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Speaker 1: You know what's weird is nowadays I don't even see

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Speaker 1: people pick pennies up off the street. It's like going

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Speaker 1: to the doctor or whatever I get from touching this

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Speaker 1: penny is going to be more expensive than picking up

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Speaker 1: the penny. But that's okay. So that's that's currency. That's

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Speaker 1: our current understanding of currency. Oh boy, is it time

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Speaker 1: to get into religion. Yeah, disclaimer nol matt Our producer

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Speaker 1: Alex and I are never going to tell you what

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Speaker 1: you should believe Alex Mike, he's kind of Pushy's gonna

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Speaker 1: you guys had to bring Alex into it right now. Yeah, welcome,

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Speaker 1: Welcome to the show. Alex. All right, okay, uh nat No,

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Speaker 1: what what's religion? Knowl Well, it's so it's basically like

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Speaker 1: power nuggets, you right, that's it's power nuggets. Hey, you're

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Speaker 1: gonna asking, man, what's religion? Just read it off the

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Speaker 1: thing again? All right, I'll read it off the thing again. Okay,

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Speaker 1: here we go. Okay, So apparently, according to this here,

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Speaker 1: religion and its most basic form, it's I'll you know,

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Speaker 1: freestyle it a little bit. It's it's it's a personal

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Speaker 1: set of beliefs or institutionalized system of beliefs or spiritual attitudes. UH.

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Speaker 1: And everything that goes along with that be it ritual UM,

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Speaker 1: be it the way you exercise your faith UM in

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Speaker 1: a day to day way. A lot of times there

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Speaker 1: are religious texts involved that are specific to individual religions.

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Speaker 1: I think everyone pretty much gets the gist of that. UM.

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Speaker 1: A belief in and worship of a superhuman controlling power,

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Speaker 1: a deity, most notably some sort of singular god or

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Speaker 1: a group of gods, as with some of the world's

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Speaker 1: most prevalent religions. So across time and history, humans have

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Speaker 1: practiced numerous religions, countless religious. You know, I'm sure if

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Speaker 1: you've guys to watch the show American Gods, which we love. UM,

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Speaker 1: it's all about the idea that things only the gods,

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Speaker 1: only exist as long as we believe in them. And

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Speaker 1: throughout time and history, likely there are many that they

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Speaker 1: just don't exist anymore because no one talks about them

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Speaker 1: any They get lost in the oral tradition. And no

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Speaker 1: religion has ever entirely conquered humanity. I mean, there's there's

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Speaker 1: always been UM debate as to which one is the one.

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Speaker 1: You know, you talk to certain people, they'll tell you

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Speaker 1: they got it all figured out, and then you talk

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Speaker 1: to others and it's like no, no, no, no no, no,

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Speaker 1: they were the one. It's also it's definitely which has

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Speaker 1: always been the thing that it's interesting to me about

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Speaker 1: this pursuit. It's just this idea of being so convinced

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Speaker 1: that you have the right answer, because I try to

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Speaker 1: live my life relatively open mindedly and know that I

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Speaker 1: have more to learn. So it feels a little self

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Speaker 1: defeating to me to just say unequivocally this is it,

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Speaker 1: this is But there's a lot of comfort in that.

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Speaker 1: And again, we're not trying to tell you what to do.

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Speaker 1: This is just me throwing it out there how it

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Speaker 1: hits me. I grew up in the church, as did

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Speaker 1: Matt um, so we've definitely been through a lot of

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Speaker 1: that stuff personally. Um So, while there's never been a

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Speaker 1: single universal agreement as to which deity rules the roost,

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Speaker 1: you have to remember that these religions have millions of

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Speaker 1: adherents all across the world and throughout humanity. Religion, at

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Speaker 1: its heart, it's an attempt to explain things to explain

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Speaker 1: our situation, what finds us here in this existence on

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Speaker 1: this planet. Why do certain natural processes exist the way

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Speaker 1: they are? Why do people die? Where do we go

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Speaker 1: and we die? These are important questions to us as

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Speaker 1: humans that are curious but also maybe a little scared,

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Speaker 1: and they're comforting, like you were saying, out of their

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Speaker 1: way as to kind of, you know, explain away some

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Speaker 1: of our fears and put our faith in a thing

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Speaker 1: that will help us guide our behavior, hopefully in a

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Speaker 1: positive way. I appreciate that aspect of religion very much. Yeah,

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Speaker 1: And to do this, religion often reaches beyond the bounds

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Speaker 1: of the observable world, you know. So there are the

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Speaker 1: big questions, just like you said, existential questions. Where where

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Speaker 1: do we come from? Where are we going? What are

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Speaker 1: we supposed to do on the way? And this Uh.

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Speaker 1: One of the crucial parts of this of this concept

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Speaker 1: is asking the believers of a religion to have faith

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Speaker 1: that the explanation they are receiving is true. In many religions,

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Speaker 1: this concept is crucial. Somebody has to agree to follow

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Speaker 1: a religion after inner contemplation, a deeply private period of

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Speaker 1: soul searching, to arrive at an inner truth that they

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Speaker 1: have discovered. Right, So this is not necessarily a thing

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Speaker 1: where someone says here is undeniable proof. They'll say, this

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Speaker 1: is undeniable proof to me, this is an inner realization

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Speaker 1: I have had and I want to share it with

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Speaker 1: you or force you historically, force you to do to

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Speaker 1: to at least pay lip service to this um because

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Speaker 1: it is true, and to be fair, religious systems approach

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Speaker 1: this and wildly different ways. You know, there's there's like

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Speaker 1: in the ancient days, that would be the right of passage,

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Speaker 1: right and go to the woods and return an adult

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Speaker 1: or an accepted member of this tribe, or it's a

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Speaker 1: it's another like a baptism for instance, is another example.

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Speaker 1: And in some belief systems in the modern day, not

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Speaker 1: all human beings are allowed to participate. One must be

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Speaker 1: born a member of the religious community. There's no way

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Speaker 1: to convert. I think most of them do have a

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Speaker 1: way to excommunicate someone, but you know, there there's only

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Speaker 1: an exit door, there's no entry way. So I think

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Speaker 1: the big thing with religious organizations that we kind of

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Speaker 1: covered right there is that there are a ton of

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Speaker 1: different ways to practice, all of us in a ton

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Speaker 1: of different beliefs that it could exist amongst one of

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Speaker 1: these organizations, but the big commonalities still exists there. It's

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Speaker 1: a system that's set up for a belief. I think

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Speaker 1: the thing that's interesting too to take from when we're

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Speaker 1: looking at the past history of religion is that it

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Speaker 1: usually was very helpful in organizing a group of like

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Speaker 1: minded people in a way that would help them survive

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Speaker 1: and and honestly, it's still serves that function today, only

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Speaker 1: it's more about how do we figure out how to

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Speaker 1: make money. It's almost like a club. It's like, how

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Speaker 1: do we who are to be the like mind of

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Speaker 1: people that we're going to hang out with that kind

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Speaker 1: of like create these communities of like minded individuals that

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Speaker 1: are in the same kind of social strata and give

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Speaker 1: It's almost like like the secret societies and groups where

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Speaker 1: you kind of like can meet and network with people

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Speaker 1: through you know, your your church groups and stuff. Yeah,

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Speaker 1: I mean I think that's I think that's an excellent point,

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Speaker 1: you know, because the quick and the quick and three.

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Speaker 1: I'm sorry, I know you guys are both heard me

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Speaker 1: have a few drinks and rant about this way too often.

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Speaker 1: But you know, if we look at the rough evolution

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Speaker 1: of society. We start with like the individual, and then

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Speaker 1: the family group just surviving, right, and then the the

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Speaker 1: assembly of a tribe, which is almost always hand in

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Speaker 1: hand with the creation or the discovery rather of a

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Speaker 1: religious belief that just like Noll said, we're like minded.

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Speaker 1: We're out here fighting for survival against you know, mammoths

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Speaker 1: and other eight and like apex predators that are better

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Speaker 1: than people at hunting. But why are we doing this?

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Speaker 1: And now it's it's a similar thing, but maybe the

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Speaker 1: the game has changed a little more social. I mean,

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Speaker 1: we out we don't have to depend on each other

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Speaker 1: to protect ourselves from poisonous plants that could kill us,

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Speaker 1: or you know, have religious rituals that sort of teach

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Speaker 1: us life lessons about which buries not to eat or everything.

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Speaker 1: Now it's a little more about creating these social constructs

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Speaker 1: which revolve largely around you know, economic systems. It's a

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Speaker 1: global supply chain, predatory loans, medical debt, which is huge

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Speaker 1: in the US. Right. Uh, that's that's a very powerful

425
00:25:41,200 --> 00:25:45,200
Speaker 1: and dangerous comparison. I like it. Well, let's let's think

426
00:25:45,200 --> 00:25:47,960
Speaker 1: about that. We've got these similarities. What what makes financial

427
00:25:48,040 --> 00:25:52,760
Speaker 1: organizations different? How do they differ to religious organizations. Well,

428
00:25:52,840 --> 00:25:55,080
Speaker 1: let's be ready for this, you guys. I'm pulling this

429
00:25:55,240 --> 00:26:00,919
Speaker 1: directly out of Investopedia, so prepare your ears. Here he comes.

430
00:26:01,800 --> 00:26:05,240
Speaker 1: Do I detect some potential jargon? It's no, it's not jargon.

431
00:26:05,359 --> 00:26:09,080
Speaker 1: It's just when you speak about money a lot of times,

432
00:26:09,280 --> 00:26:13,639
Speaker 1: there are so many words and things that feel like

433
00:26:13,680 --> 00:26:15,680
Speaker 1: they don't have to be there. But we're gonna get into.

434
00:26:17,480 --> 00:26:20,800
Speaker 1: The financial institution is a company engaged in the business

435
00:26:20,880 --> 00:26:26,160
Speaker 1: of dealing with monetary transactions, such as deposits, loans, loans, investments,

436
00:26:26,359 --> 00:26:30,679
Speaker 1: and currency exchange. Financial institutions incumbas a broad range of

437
00:26:30,760 --> 00:26:36,159
Speaker 1: business operations within the financial services sector, including banks, trust companies,

438
00:26:36,480 --> 00:26:43,159
Speaker 1: insurance companies, and brokerage firms or investment dealers. Oh, virtually

439
00:26:43,240 --> 00:26:46,399
Speaker 1: everyone living in a developed economy has an ongoing or

440
00:26:46,440 --> 00:26:50,000
Speaker 1: at least periodic need for the services of financial institution.

441
00:26:50,040 --> 00:26:53,840
Speaker 1: I don't know why I said sharks earlier, but did

442
00:26:53,880 --> 00:26:56,560
Speaker 1: you did you hear that at the end? There? Virtually

443
00:26:56,640 --> 00:26:59,919
Speaker 1: everyone in any developed economy has some kind of ongo

444
00:27:00,280 --> 00:27:04,399
Speaker 1: or at least periodic need of a financial institution. And

445
00:27:04,480 --> 00:27:06,680
Speaker 1: we hype man that a little bit because it is

446
00:27:06,720 --> 00:27:10,639
Speaker 1: true that people. Can you know, you can your ears

447
00:27:10,680 --> 00:27:13,080
Speaker 1: and your eyes can kind of glaze over when it

448
00:27:13,080 --> 00:27:17,440
Speaker 1: goes to that um hate over. Yeah, well, no one

449
00:27:17,480 --> 00:27:19,440
Speaker 1: at the office wants to tell you because it's weird.

450
00:27:19,520 --> 00:27:22,959
Speaker 1: But that's that's an important point. So financial institutions are

451
00:27:23,000 --> 00:27:26,600
Speaker 1: in every part of rold lives. I think we've defined

452
00:27:26,960 --> 00:27:31,760
Speaker 1: religious organizations pretty well at this point. And you know,

453
00:27:31,800 --> 00:27:35,000
Speaker 1: our our earlier definition may have seemed a little bit vague,

454
00:27:35,359 --> 00:27:38,040
Speaker 1: but it's because we're we're trying to be as general

455
00:27:38,080 --> 00:27:43,320
Speaker 1: as possible to address the entire practice, right and we

456
00:27:43,400 --> 00:27:45,720
Speaker 1: have to make sure we look at these statistics when

457
00:27:45,720 --> 00:27:51,520
Speaker 1: we talk about religious organizations. You can watch uh many

458
00:27:51,640 --> 00:27:55,320
Speaker 1: news channels here. I believe Fox Network would be one

459
00:27:55,480 --> 00:27:59,840
Speaker 1: of the one of the most prominent examples of this.

460
00:28:00,040 --> 00:28:04,879
Speaker 1: But every year there's the War on Christmas right Easter

461
00:28:05,280 --> 00:28:11,880
Speaker 1: or Easter or Auster or Auster Yes, uh, the that

462
00:28:12,080 --> 00:28:15,360
Speaker 1: is I think a great example of what is seen

463
00:28:15,400 --> 00:28:20,040
Speaker 1: as the rise of secularism or the decline in uh

464
00:28:20,320 --> 00:28:27,480
Speaker 1: active practitioners of religion. So right right now, some of

465
00:28:27,560 --> 00:28:31,880
Speaker 1: the like some of the best statistics indicate that eleven

466
00:28:31,960 --> 00:28:35,560
Speaker 1: percent of Americans born after nineteen seventy were raised in

467
00:28:35,680 --> 00:28:40,840
Speaker 1: secular homes, so we're raised not not practicing religion. And

468
00:28:41,040 --> 00:28:44,640
Speaker 1: here in the southeastern United States, Uh, there are a

469
00:28:44,680 --> 00:28:49,520
Speaker 1: lot of people that pastors referred to as the what's

470
00:28:49,760 --> 00:28:54,040
Speaker 1: Chris Easter Christmas? The Christmas Easter Christians. Yeah, I don't know,

471
00:28:54,120 --> 00:28:57,640
Speaker 1: there's there are terms for it. I can't get off. Well,

472
00:28:57,640 --> 00:29:00,240
Speaker 1: it's a it's a term for some family we or

473
00:29:00,320 --> 00:29:04,800
Speaker 1: some group of people or people who show up twice

474
00:29:04,800 --> 00:29:07,640
Speaker 1: a year. It's basically like fair weather Christians. Yeah, there

475
00:29:07,720 --> 00:29:10,720
Speaker 1: we go. I like that. Yeah. And this So this

476
00:29:10,880 --> 00:29:14,600
Speaker 1: rise of secularism is seen as a threat not just

477
00:29:14,680 --> 00:29:17,680
Speaker 1: here in the US, not just with Christianity, but with

478
00:29:17,800 --> 00:29:22,280
Speaker 1: multiple religions right all over the world. It leads us

479
00:29:22,320 --> 00:29:26,400
Speaker 1: back to that at times antagonistic relationship between money power

480
00:29:26,520 --> 00:29:31,240
Speaker 1: and spirituality. There's a great quotation from an author named

481
00:29:31,240 --> 00:29:37,200
Speaker 1: Philip good Child that sort of compares and contrasts the

482
00:29:37,680 --> 00:29:42,760
Speaker 1: um the difference between money and religion. And he refers

483
00:29:42,800 --> 00:29:46,000
Speaker 1: to just a note here. He refers to religion just

484
00:29:46,120 --> 00:29:50,080
Speaker 1: by the phrase God. So here's a quote. It is

485
00:29:50,120 --> 00:29:53,840
Speaker 1: easy to observe how such an activity naturally leads to

486
00:29:53,920 --> 00:29:58,080
Speaker 1: secularization and a direct opposition between God and money. Where

487
00:29:58,120 --> 00:30:01,720
Speaker 1: God promises eternity, money promist is the world. Where God

488
00:30:01,800 --> 00:30:05,920
Speaker 1: offers a delayed reward. Money offers a reward in advance.

489
00:30:06,520 --> 00:30:09,840
Speaker 1: Where God offers himself as grace, money offers itself as

490
00:30:09,840 --> 00:30:15,120
Speaker 1: a loan. Where God offers spiritual benefits, money offers tangible benefits.

491
00:30:15,640 --> 00:30:19,840
Speaker 1: Where God accepts all repentant sinners who truly believe, money

492
00:30:19,840 --> 00:30:22,280
Speaker 1: may be accepted by all who are willing to trust

493
00:30:22,320 --> 00:30:27,040
Speaker 1: in its value. Where God requires conversion of the soul,

494
00:30:27,800 --> 00:30:32,360
Speaker 1: money empowers the existing desires and plans of the soul.

495
00:30:33,160 --> 00:30:37,880
Speaker 1: Money has the advantages of immediacy, universality, tangibility, and utility.

496
00:30:39,000 --> 00:30:42,040
Speaker 1: So money has a one up there, at least according

497
00:30:42,080 --> 00:30:43,840
Speaker 1: to good Job. Well, but I feel like those things

498
00:30:43,840 --> 00:30:46,600
Speaker 1: only hold true if you believe in the religion that

499
00:30:46,640 --> 00:30:50,920
Speaker 1: he's talking about. Kind of right, because it could Yeah,

500
00:30:50,960 --> 00:30:53,920
Speaker 1: it is true, and uh, good child does have a

501
00:30:54,800 --> 00:30:58,080
Speaker 1: background coming from a religious stamp. I guess what I'm

502
00:30:58,080 --> 00:31:01,960
Speaker 1: saying is, I feel like, you know, God does not

503
00:31:02,080 --> 00:31:05,920
Speaker 1: offer you ultimate absolution if you don't fully accept and

504
00:31:06,240 --> 00:31:09,600
Speaker 1: believe everything about him, you know, who's not unquestioning. You

505
00:31:09,600 --> 00:31:12,920
Speaker 1: have to you have to contribute something to that equation

506
00:31:12,960 --> 00:31:16,120
Speaker 1: as well. M hmm, that's a that's a good point.

507
00:31:16,160 --> 00:31:19,720
Speaker 1: And good Child is a philosopher of religion by training,

508
00:31:20,080 --> 00:31:23,280
Speaker 1: so I thought it was interesting for him to pose that.

509
00:31:24,000 --> 00:31:27,560
Speaker 1: I'm not trying to um discounted. I mean, I think

510
00:31:27,560 --> 00:31:29,160
Speaker 1: it's very well put, but I just think it's it's

511
00:31:29,240 --> 00:31:32,400
Speaker 1: actually it does a good job of showing up similar

512
00:31:32,480 --> 00:31:35,960
Speaker 1: the two things. Is it possible that these two concepts

513
00:31:35,960 --> 00:31:39,120
Speaker 1: have much more in common than we think? We'll find

514
00:31:39,160 --> 00:31:51,240
Speaker 1: out after a quick word from our sponsor. Here's where

515
00:31:51,280 --> 00:31:55,959
Speaker 1: it gets crazy. So what if instead of living in

516
00:31:56,080 --> 00:31:59,440
Speaker 1: a world that's turning away from traditional religions the way

517
00:31:59,720 --> 00:32:02,479
Speaker 1: it feels like it is, we live in a world

518
00:32:02,760 --> 00:32:07,640
Speaker 1: that's actually embracing new ones. What if money, or this

519
00:32:07,720 --> 00:32:11,400
Speaker 1: new global economy in which we exist, what if the

520
00:32:11,440 --> 00:32:16,080
Speaker 1: economy itself is a religion. I'm going right back to

521
00:32:16,640 --> 00:32:20,360
Speaker 1: the episode that I just watched last night of of

522
00:32:20,400 --> 00:32:22,920
Speaker 1: American Gods, and it's weird to me out I was

523
00:32:22,960 --> 00:32:25,520
Speaker 1: thinking about it was that the season for now, for

524
00:32:25,560 --> 00:32:27,880
Speaker 1: the record, this it's not okay to spoil that. I

525
00:32:28,240 --> 00:32:32,760
Speaker 1: am not spoiling it. It's just it deals directly with

526
00:32:32,800 --> 00:32:37,040
Speaker 1: some of this, Okay, So we'll return to Philip good

527
00:32:37,120 --> 00:32:42,160
Speaker 1: Child here for another quotation. Where European philosophers have often

528
00:32:42,280 --> 00:32:45,320
Speaker 1: sought some decisive term that give shape to the ways

529
00:32:45,440 --> 00:32:49,760
Speaker 1: we think and act, such as being truth, difference, the sublime,

530
00:32:50,080 --> 00:32:52,960
Speaker 1: the void, time, or even God. It seems to me

531
00:32:53,080 --> 00:32:57,040
Speaker 1: that money actually plays the decisive role in our society,

532
00:32:57,200 --> 00:32:59,680
Speaker 1: for money is at once an object that can be handled,

533
00:33:00,040 --> 00:33:03,200
Speaker 1: an institution which is the basis of all our cooperation,

534
00:33:03,560 --> 00:33:07,400
Speaker 1: and a structure of thinking. We unwittingly have made a

535
00:33:07,440 --> 00:33:11,640
Speaker 1: theology of money. And then he goes on to say

536
00:33:11,800 --> 00:33:15,840
Speaker 1: the finitude of currency has been overcome by treating signs

537
00:33:15,880 --> 00:33:21,040
Speaker 1: of monetary value as themselves valuable. I got you, okay,

538
00:33:21,360 --> 00:33:25,040
Speaker 1: Ensuring the value of newly created money by issuing it

539
00:33:25,080 --> 00:33:29,560
Speaker 1: in the form of loans attached to debts, rates of

540
00:33:29,600 --> 00:33:34,080
Speaker 1: production and rates of interest escape finitude by compound growth

541
00:33:34,640 --> 00:33:38,360
Speaker 1: um production for the sake of profit replaces production for

542
00:33:38,520 --> 00:33:42,320
Speaker 1: the sake of use. Let's unpack. So okay, So that's

543
00:33:42,320 --> 00:33:47,040
Speaker 1: pretty that's pretty interesting because when we had commodity currency,

544
00:33:47,080 --> 00:33:51,960
Speaker 1: commodity money, right, we stuff that was useful. Right. If

545
00:33:51,960 --> 00:33:54,320
Speaker 1: Noel and I are gambling and our currency happens to

546
00:33:54,320 --> 00:33:58,560
Speaker 1: be peppercorns, then there's no debating that those peppercorns have

547
00:33:58,600 --> 00:34:02,720
Speaker 1: a value. So what about golden shovels. Okay, yeah, golden shovels,

548
00:34:02,760 --> 00:34:04,520
Speaker 1: because if you don't want to shovel, you can make

549
00:34:04,560 --> 00:34:08,400
Speaker 1: it into something else. So this, this is a really

550
00:34:08,480 --> 00:34:12,840
Speaker 1: this is a really good point that in that in

551
00:34:13,640 --> 00:34:17,560
Speaker 1: something that is directly a resource, there is a limit

552
00:34:17,760 --> 00:34:20,799
Speaker 1: on how how much that resource, how much of that

553
00:34:20,880 --> 00:34:23,960
Speaker 1: resource exists in that form, And we know that if

554
00:34:24,000 --> 00:34:27,040
Speaker 1: there's too much of it, then the currency loses its value.

555
00:34:27,320 --> 00:34:30,400
Speaker 1: If everyone as pepper, you can't pay with pepper, right,

556
00:34:31,400 --> 00:34:35,319
Speaker 1: But you can overcome that by treating the sign of

557
00:34:35,760 --> 00:34:39,920
Speaker 1: value as just as important as the actual thing. So

558
00:34:39,960 --> 00:34:44,440
Speaker 1: now instead of let's say Matt strikes it big in

559
00:34:44,480 --> 00:34:53,920
Speaker 1: the competitive polka circuit, oh you better believe it ranks

560
00:34:54,160 --> 00:35:00,479
Speaker 1: the competitive underground polka circuit. And he gets that's true,

561
00:35:00,680 --> 00:35:03,360
Speaker 1: that's true. You know, I didn't think you would know

562
00:35:03,400 --> 00:35:05,960
Speaker 1: it by looking at me. Took a took the old

563
00:35:06,160 --> 00:35:12,160
Speaker 1: glance in the mirror. There, the kid's got it. Well,

564
00:35:12,160 --> 00:35:17,120
Speaker 1: we will see you later. Oh gosh. But the point is,

565
00:35:17,160 --> 00:35:20,719
Speaker 1: you know, now he doesn't if he's paid in gold, Uh,

566
00:35:20,760 --> 00:35:22,360
Speaker 1: he would have to carry around all that gold or

567
00:35:22,400 --> 00:35:24,160
Speaker 1: find a place to put it. But now he is

568
00:35:24,200 --> 00:35:27,960
Speaker 1: able to take a coupon that represents it right, printed

569
00:35:28,040 --> 00:35:32,520
Speaker 1: on historically a linen. So something's may be difficult to

570
00:35:32,560 --> 00:35:36,319
Speaker 1: reproduce but not intrinsically valuable on its own. So now

571
00:35:36,360 --> 00:35:38,960
Speaker 1: we have a symbol that says this right. So now

572
00:35:39,280 --> 00:35:44,080
Speaker 1: Nola is a peppercorn. Billionaire has has multiple checks or

573
00:35:44,200 --> 00:35:47,360
Speaker 1: pieces of linen. Let's say, you know, one hundred thousand

574
00:35:48,440 --> 00:35:53,359
Speaker 1: peppercorns or power nuggets like power nuggets better. I think

575
00:35:53,400 --> 00:35:57,760
Speaker 1: power nuggets is like my new jam for this um.

576
00:35:57,840 --> 00:36:02,480
Speaker 1: So this means that now you can just start creating

577
00:36:02,840 --> 00:36:05,879
Speaker 1: those symbols. You can. You don't really need to have

578
00:36:06,440 --> 00:36:11,719
Speaker 1: a billion peppercorns to make new peppercorn notes. But that

579
00:36:11,760 --> 00:36:16,960
Speaker 1: opens up a whole another bag of rabid, greedy badgers

580
00:36:16,960 --> 00:36:21,480
Speaker 1: because it does, yes sir, yes, sir, Because we also

581
00:36:21,680 --> 00:36:27,640
Speaker 1: know that expanding production right the constant. You know, people

582
00:36:27,640 --> 00:36:32,200
Speaker 1: have often said opponents of capitalism have often said it's

583
00:36:32,320 --> 00:36:35,360
Speaker 1: just a leviath and that consumes everything in its path,

584
00:36:35,719 --> 00:36:39,040
Speaker 1: and that it depends on continual growth, which after a

585
00:36:39,120 --> 00:36:42,200
Speaker 1: certain point is impossible. Yeah, and you're making way too

586
00:36:42,280 --> 00:36:48,600
Speaker 1: much to continue to be profitable. But if it's continuing,

587
00:36:48,760 --> 00:36:52,480
Speaker 1: if it's if we're just creating symbols that represent you know,

588
00:36:52,640 --> 00:36:58,520
Speaker 1: debt or effort over time, or fictitious peppercorns ring gets

589
00:36:58,520 --> 00:37:01,719
Speaker 1: of gold, or I think Holland had a problem with

590
00:37:01,760 --> 00:37:05,600
Speaker 1: tulip bulbs once upon a time, then there's you know,

591
00:37:05,640 --> 00:37:07,720
Speaker 1: it's Katie bar the door, the sky is the limit,

592
00:37:09,320 --> 00:37:12,080
Speaker 1: and we start going to a state where we are

593
00:37:12,160 --> 00:37:16,160
Speaker 1: just producing things, not to use them, but to simply

594
00:37:16,200 --> 00:37:21,200
Speaker 1: have more symbols representing their existence, and then betting on

595
00:37:21,400 --> 00:37:24,000
Speaker 1: the number of symbols and where the symbols exist and

596
00:37:24,040 --> 00:37:26,920
Speaker 1: how they're going to change to make more symbols. When

597
00:37:26,960 --> 00:37:30,640
Speaker 1: you start getting into futures and derivatives and all the

598
00:37:30,719 --> 00:37:34,040
Speaker 1: things that are just creating more of these symbols based

599
00:37:34,040 --> 00:37:37,200
Speaker 1: on what the other symbols are doing actually creating anything,

600
00:37:37,800 --> 00:37:40,719
Speaker 1: and it gets through into weird territory, it does. It

601
00:37:40,800 --> 00:37:46,360
Speaker 1: quickly gets into a very abstract territory. So it's true

602
00:37:46,400 --> 00:37:48,640
Speaker 1: that currently, let's bracket that for a second. It's true.

603
00:37:48,680 --> 00:37:51,680
Speaker 1: It's currently there are no churches where people bow in

604
00:37:51,719 --> 00:37:54,520
Speaker 1: front of like a big dollar sign or something. Right,

605
00:37:54,680 --> 00:37:58,279
Speaker 1: I haven't seen one. Okay, you some one, No, but

606
00:37:58,360 --> 00:38:01,239
Speaker 1: I'm picturing it in my mind, right yeah, And I'm

607
00:38:01,320 --> 00:38:04,600
Speaker 1: picturing like maybe some robes that also have dollar signs

608
00:38:04,280 --> 00:38:07,480
Speaker 1: dollars exactly. Let's I mean, let's build it. But it

609
00:38:07,520 --> 00:38:11,200
Speaker 1: does seem that money and religion have increasingly similar characteristics.

610
00:38:11,640 --> 00:38:13,600
Speaker 1: So what are some of the things you have in common? Well,

611
00:38:13,600 --> 00:38:17,160
Speaker 1: they have symbols in common, and then those are very

612
00:38:17,200 --> 00:38:19,880
Speaker 1: important for both of these, right, I mean we're just

613
00:38:19,920 --> 00:38:24,000
Speaker 1: talking about that. If the dollar didn't have the symbol,

614
00:38:24,120 --> 00:38:26,359
Speaker 1: the exact symbol on it in the exact, you know,

615
00:38:26,719 --> 00:38:29,480
Speaker 1: perfect way, and even the serial numbers on it, it

616
00:38:29,480 --> 00:38:32,640
Speaker 1: wouldn't mean anything. Oh, it's counterfeit and that's a crime. Yeah.

617
00:38:32,719 --> 00:38:34,920
Speaker 1: And then if you look at let's say, just a

618
00:38:34,960 --> 00:38:37,879
Speaker 1: crucifix or something, if it's not made in the correct way,

619
00:38:38,360 --> 00:38:42,400
Speaker 1: you know, there it's debatable on whether it is true

620
00:38:42,520 --> 00:38:45,120
Speaker 1: or not, or any other symbols from any other religion.

621
00:38:45,480 --> 00:38:51,120
Speaker 1: If a Koran is written just slightly incorrectly, then it

622
00:38:51,239 --> 00:38:57,000
Speaker 1: is you know, invalid. What about stock symbols, you guys, Yeah,

623
00:38:57,080 --> 00:38:59,640
Speaker 1: I mean think about that, Like the stock market to

624
00:38:59,760 --> 00:39:04,160
Speaker 1: me seems like the closest thing to a god. As

625
00:39:04,200 --> 00:39:07,040
Speaker 1: like this system we're talking about we have because it's

626
00:39:07,080 --> 00:39:09,560
Speaker 1: what is it. It's kind of like a volatile, a

627
00:39:09,800 --> 00:39:14,040
Speaker 1: knowable thing that you can kind of predict, but it's not.

628
00:39:14,200 --> 00:39:16,239
Speaker 1: It's got it's got no time for your you know,

629
00:39:16,480 --> 00:39:19,279
Speaker 1: and you can plan, you can pay obesience to it.

630
00:39:19,360 --> 00:39:22,319
Speaker 1: Exactly right, Yeah, exactly it had. It literally has its

631
00:39:22,320 --> 00:39:25,799
Speaker 1: own temple on the street where people just hang out

632
00:39:25,800 --> 00:39:27,960
Speaker 1: there all day kind of looking up at it. Yeah,

633
00:39:28,000 --> 00:39:31,840
Speaker 1: and they're really serving it their real world effects to Absolutely,

634
00:39:31,880 --> 00:39:34,000
Speaker 1: that's what I'm saying. But then sometimes it's just like

635
00:39:34,200 --> 00:39:37,120
Speaker 1: just takes a dump in the bed and it's just like, Okay,

636
00:39:37,239 --> 00:39:42,520
Speaker 1: it's over. I will arraign my vengeance upon the Yeah.

637
00:39:42,960 --> 00:39:46,080
Speaker 1: Because you know, we think about think about during the

638
00:39:46,120 --> 00:39:51,720
Speaker 1: Great Depression, right, sick market crashes, commodities are in flux,

639
00:39:52,160 --> 00:39:56,040
Speaker 1: and people are starving in cities right and in the

640
00:39:56,200 --> 00:40:00,200
Speaker 1: same country, not two or three states away. Farmer ers

641
00:40:00,400 --> 00:40:05,360
Speaker 1: are pouring milk and creeks and uh slaughtering pigs because

642
00:40:05,400 --> 00:40:08,120
Speaker 1: the prices are too low for them to sell, so

643
00:40:08,160 --> 00:40:11,400
Speaker 1: it's better that they raise the market themselves. And then

644
00:40:11,440 --> 00:40:14,960
Speaker 1: you get into the butterfly situation. Was it the actions

645
00:40:15,120 --> 00:40:18,439
Speaker 1: of the many people that caused these things to happen

646
00:40:18,480 --> 00:40:21,600
Speaker 1: to the other people or was it the God? Yeah?

647
00:40:21,600 --> 00:40:24,400
Speaker 1: It was it? Was it? Like it's like Sodom and Gamore, right, Like,

648
00:40:24,480 --> 00:40:27,040
Speaker 1: you know, did God wipe out Sodom and Gamore because

649
00:40:27,040 --> 00:40:32,759
Speaker 1: they were doing horrible stuff? Or was it? Yeah? Yeah?

650
00:40:32,960 --> 00:40:36,200
Speaker 1: And that that's that's a really good question because this

651
00:40:36,239 --> 00:40:39,560
Speaker 1: all starts to go into belief and faith. One thing

652
00:40:39,680 --> 00:40:42,799
Speaker 1: that can startle a lot of people. When we hear

653
00:40:42,880 --> 00:40:45,640
Speaker 1: pundits in the West talk about and I mean the

654
00:40:45,680 --> 00:40:48,799
Speaker 1: ideological West. When we hear pundance in the West talk

655
00:40:48,840 --> 00:40:56,400
Speaker 1: about stock markets, you often hear the weird phrase investor confidence. Yeah,

656
00:40:56,640 --> 00:41:01,880
Speaker 1: what what investor confidence? Because I believe in this, I

657
00:41:01,920 --> 00:41:04,960
Speaker 1: will buy some uh I will buy some shares of

658
00:41:05,000 --> 00:41:09,279
Speaker 1: it because I'm gonna sell it. So it becomes an

659
00:41:09,360 --> 00:41:12,440
Speaker 1: indicator of how many people believe in something at a

660
00:41:12,520 --> 00:41:18,520
Speaker 1: given time. That is pretty spooky. Yeah. And and Nolan,

661
00:41:18,640 --> 00:41:22,560
Speaker 1: I uh no, have a friend who is pretty good

662
00:41:22,600 --> 00:41:28,040
Speaker 1: at dividing some of these pathways and predicting some of

663
00:41:28,080 --> 00:41:32,680
Speaker 1: these trends. But even he will tell us, um, even

664
00:41:32,719 --> 00:41:34,400
Speaker 1: he will tell us that sometimes you just don't know

665
00:41:34,440 --> 00:41:36,799
Speaker 1: what's going to happen exactly. I mean you know, you

666
00:41:36,840 --> 00:41:38,720
Speaker 1: can get it right some of the time and follow

667
00:41:38,719 --> 00:41:42,440
Speaker 1: a trend to its conclusion, but then you know, or

668
00:41:42,480 --> 00:41:45,040
Speaker 1: to what you perceive as its conclusion as far as

669
00:41:45,040 --> 00:41:48,000
Speaker 1: you're willing to take it. But sometimes playing that short

670
00:41:48,000 --> 00:41:49,920
Speaker 1: game and really trying to like put one over on

671
00:41:49,960 --> 00:41:52,680
Speaker 1: the market doesn't really work like that. You know, It's

672
00:41:52,719 --> 00:41:54,960
Speaker 1: like it's it's a lot of it is up to chance,

673
00:41:55,000 --> 00:41:58,000
Speaker 1: and people kind of like have these self fulfilling prophecies

674
00:41:58,080 --> 00:42:00,560
Speaker 1: or these like confirmation biases that convince them that their

675
00:42:00,600 --> 00:42:03,799
Speaker 1: actions are actually having an effect on the system. Then

676
00:42:03,800 --> 00:42:07,399
Speaker 1: that really it totally runs itself. That's such a great point.

677
00:42:07,480 --> 00:42:10,840
Speaker 1: It makes me think of on a microcosmic level, for

678
00:42:10,920 --> 00:42:13,839
Speaker 1: anyone in the audience with kids, when you take your

679
00:42:13,880 --> 00:42:15,719
Speaker 1: kid to the grocery store and you get one of

680
00:42:15,719 --> 00:42:19,280
Speaker 1: those specially for kids grocery carts with the little wheel,

681
00:42:19,640 --> 00:42:25,400
Speaker 1: that they could feel like they're steering and no control. Yeah.

682
00:42:25,440 --> 00:42:28,839
Speaker 1: But but so we're seeing a lot of this is

683
00:42:28,880 --> 00:42:34,719
Speaker 1: based on faith, right, and of course we know that

684
00:42:35,040 --> 00:42:39,400
Speaker 1: of course we know that there are tangible assets at play. Right,

685
00:42:39,960 --> 00:42:44,120
Speaker 1: So like dal Chemical makes chemicals, they make a real

686
00:42:44,280 --> 00:42:50,480
Speaker 1: thing that people use, and the us without getting too

687
00:42:50,480 --> 00:42:53,359
Speaker 1: far into it. The US currency, which is what most

688
00:42:53,400 --> 00:42:55,719
Speaker 1: of us are the most familiar with on on this show.

689
00:42:56,400 --> 00:42:59,920
Speaker 1: US currency is commonly called a petro dollar because of

690
00:43:00,000 --> 00:43:02,960
Speaker 1: a deal that Nixon cracked back in the day where

691
00:43:03,440 --> 00:43:07,160
Speaker 1: OPEC of most of the OPEC nations agreed, including Saudi Arabia,

692
00:43:07,360 --> 00:43:12,040
Speaker 1: to only sell petroleum in dollars. We're only training in

693
00:43:12,080 --> 00:43:20,440
Speaker 1: these dollar bills, y'all. That's sounds like Nixon impression. So

694
00:43:21,600 --> 00:43:25,080
Speaker 1: we we know though that no matter how we want

695
00:43:25,120 --> 00:43:29,040
Speaker 1: to tie these two tangible assets, in some degree, call

696
00:43:29,080 --> 00:43:33,440
Speaker 1: it what you will, confidence, faith, belief. It plays a

697
00:43:33,480 --> 00:43:38,080
Speaker 1: crucial part in today's financial market. And we've seen, just

698
00:43:38,360 --> 00:43:44,399
Speaker 1: like religiously motivated wars or massacres in the yester years

699
00:43:44,440 --> 00:43:50,640
Speaker 1: of civilization, we've seen economic ideology have the same disastrous effects.

700
00:43:50,760 --> 00:43:53,440
Speaker 1: You know, like the World Bank and the i m

701
00:43:53,520 --> 00:43:59,560
Speaker 1: F have made some huge missteps, right, and we've seen

702
00:43:59,680 --> 00:44:05,000
Speaker 1: these um we've seen these ideas applied as though they're

703
00:44:05,000 --> 00:44:08,560
Speaker 1: gonna work just because a group of economists and the

704
00:44:08,640 --> 00:44:12,399
Speaker 1: think tank believe that that's how the world should work.

705
00:44:12,760 --> 00:44:14,560
Speaker 1: That's where you're really getting into the faith stuff with

706
00:44:14,560 --> 00:44:20,120
Speaker 1: the economists. Did you guys ever take any big economy

707
00:44:20,160 --> 00:44:26,279
Speaker 1: classes in college. Yeah, yeah, that stuff is fascinating because

708
00:44:26,280 --> 00:44:30,360
Speaker 1: it really does feel as though nobody really knows exactly

709
00:44:30,400 --> 00:44:34,160
Speaker 1: what's going on and you can't really control it that much.

710
00:44:34,320 --> 00:44:37,120
Speaker 1: You can just control it mostly at the micro level

711
00:44:37,200 --> 00:44:40,279
Speaker 1: and then hope that stuff works out. It's a lot

712
00:44:40,280 --> 00:44:43,280
Speaker 1: of different schools of thoughts seemed to vary pretty widely.

713
00:44:43,800 --> 00:44:46,480
Speaker 1: Like the different it almost is more of a philosophy

714
00:44:46,520 --> 00:44:49,480
Speaker 1: than an exact science. That's exactly what almost like a

715
00:44:49,680 --> 00:44:53,399
Speaker 1: like a money priest, you know, saying like this is

716
00:44:53,480 --> 00:44:57,520
Speaker 1: this is definitely the way. Yeah, it's like that money priest.

717
00:44:57,920 --> 00:45:04,320
Speaker 1: So so yeah, money rist is yeah, and like different

718
00:45:04,320 --> 00:45:08,960
Speaker 1: administrations have different pet um economists, you know, and so

719
00:45:09,440 --> 00:45:12,520
Speaker 1: but when you compare them, they're like, it couldn't be

720
00:45:12,520 --> 00:45:15,400
Speaker 1: more different, you know. Now I got you. So we

721
00:45:15,520 --> 00:45:21,040
Speaker 1: have this faith, how does an individual human being, uh

722
00:45:21,520 --> 00:45:24,440
Speaker 1: practice that faith? What kind of worship do we do

723
00:45:24,560 --> 00:45:27,959
Speaker 1: for money? I don't know. Well, we talked, we talked

724
00:45:28,000 --> 00:45:32,359
Speaker 1: about Mammon the quote from loop out of here. So

725
00:45:32,480 --> 00:45:35,400
Speaker 1: let's get into just comparing some of these rights and

726
00:45:35,560 --> 00:45:39,040
Speaker 1: rituals that you would do. So my my experience comes

727
00:45:39,080 --> 00:45:43,120
Speaker 1: from mostly the Methodist Church here in the United States

728
00:45:43,480 --> 00:45:46,080
Speaker 1: where when you were going to take communion. Let's just

729
00:45:46,120 --> 00:45:49,000
Speaker 1: give that as a as an example. You drink a

730
00:45:49,000 --> 00:45:51,920
Speaker 1: little bit of in my case, grape juice, supposed to

731
00:45:51,960 --> 00:45:55,719
Speaker 1: be consecrated wine that's been blessed about, and what this

732
00:45:55,800 --> 00:45:58,319
Speaker 1: ritual is supposed to do is get you close to

733
00:45:58,560 --> 00:46:02,120
Speaker 1: in this case Jesus or a deity and bring you know,

734
00:46:02,520 --> 00:46:06,440
Speaker 1: bring some aspect of that into you personally. Question yes,

735
00:46:06,560 --> 00:46:09,319
Speaker 1: question from the audience, Uh thin bull and stuff? Then

736
00:46:09,360 --> 00:46:11,839
Speaker 1: what you know, a big fan Uh yeah, just uh,

737
00:46:12,680 --> 00:46:16,080
Speaker 1: just to get this straight. So in the Methodist in

738
00:46:16,120 --> 00:46:20,920
Speaker 1: the Catholic Church, they practice transubstantiation, right, so you're actually

739
00:46:21,080 --> 00:46:24,160
Speaker 1: blessed and it actually becomes the body and blood of Christ.

740
00:46:24,640 --> 00:46:28,279
Speaker 1: But in the Methodist Church, is that is that also

741
00:46:28,320 --> 00:46:31,239
Speaker 1: a belief or is it more like a symbol representative thing?

742
00:46:31,560 --> 00:46:35,160
Speaker 1: From my ten year old understanding, it was very symbolic,

743
00:46:35,280 --> 00:46:37,719
Speaker 1: because if it wasn't, I would definitely be weirded out

744
00:46:38,520 --> 00:46:41,400
Speaker 1: a lot more than I probably already was. Okay, so

745
00:46:41,440 --> 00:46:43,920
Speaker 1: there's like communion, then that would be a ritual. So

746
00:46:43,920 --> 00:46:47,480
Speaker 1: they're all these rights and rituals that a single person

747
00:46:47,560 --> 00:46:51,160
Speaker 1: does when they are of a faith A certain religion

748
00:46:51,480 --> 00:46:54,279
Speaker 1: they do to either humble themselves in you know, the

749
00:46:54,360 --> 00:46:58,640
Speaker 1: light of whatever god or gods they worship, or just

750
00:46:58,680 --> 00:47:01,080
Speaker 1: to get them closer in some way to that deity

751
00:47:01,280 --> 00:47:06,000
Speaker 1: or to perfection, whatever that sort is. Um. So, I

752
00:47:06,080 --> 00:47:10,560
Speaker 1: was imagining popular culture, uh, and the way that we

753
00:47:10,719 --> 00:47:15,640
Speaker 1: seem to worship money right now, with celebrity and with wealth,

754
00:47:15,800 --> 00:47:18,600
Speaker 1: and the way that is played up as the ideal

755
00:47:19,040 --> 00:47:21,480
Speaker 1: a lot of times, at least in Western culture with

756
00:47:21,480 --> 00:47:27,120
Speaker 1: a big w And I was imagining masterps uh toilet,

757
00:47:27,360 --> 00:47:30,839
Speaker 1: master masterp, master p. I don't, I don't know. Yeah,

758
00:47:30,880 --> 00:47:37,920
Speaker 1: and yeah, never sounded wider. I just master p is

759
00:47:37,920 --> 00:47:44,359
Speaker 1: master p is. It's Dr Dre So I'm not Drew.

760
00:47:45,560 --> 00:47:48,680
Speaker 1: So I'm just I'm imagining that toilet seat and that

761
00:47:48,760 --> 00:47:54,040
Speaker 1: whole golden toilet as this weird just worship of wealth,

762
00:47:54,200 --> 00:47:58,320
Speaker 1: worship of money as an object, and creating a golden

763
00:47:58,400 --> 00:48:02,360
Speaker 1: god of sorts. Are we forgetting about the golden calf,

764
00:48:02,920 --> 00:48:06,440
Speaker 1: the idol? Yes? No, I mean like that that is

765
00:48:06,480 --> 00:48:08,920
Speaker 1: exactly what that was all about. That was about worshiping

766
00:48:10,080 --> 00:48:13,759
Speaker 1: wealth and you know, um pretension and and just like

767
00:48:13,880 --> 00:48:18,320
Speaker 1: just gross displays of decadence kind of you know, what

768
00:48:18,440 --> 00:48:21,239
Speaker 1: was what story was that in Again, I believe that

769
00:48:21,440 --> 00:48:26,719
Speaker 1: was in Exodus. When the people saw that Moses was

770
00:48:26,760 --> 00:48:29,040
Speaker 1: so long and coming down from the mountain, they gathered

771
00:48:29,040 --> 00:48:31,480
Speaker 1: around Daron and said, cold, make us gods who will

772
00:48:31,520 --> 00:48:33,879
Speaker 1: go before us. As for this fellow Moses who brought

773
00:48:33,960 --> 00:48:35,920
Speaker 1: us up out of Egypt, we don't know what has

774
00:48:35,920 --> 00:48:40,280
Speaker 1: happened to him. And Aaron's I'm gonna paraphrase a little said,

775
00:48:40,600 --> 00:48:43,360
Speaker 1: take off the gold ear rings that your wives, son's

776
00:48:43,440 --> 00:48:48,080
Speaker 1: daughters are wearing. They brought him to him. He okay.

777
00:48:48,239 --> 00:48:50,279
Speaker 1: He took what they handed him and made it into

778
00:48:50,320 --> 00:48:53,040
Speaker 1: an idol cast in the shape of a calf, fashion

779
00:48:53,160 --> 00:48:56,480
Speaker 1: up with a tool. Then he said, these are your gods,

780
00:48:59,160 --> 00:49:02,480
Speaker 1: your gods now, so you know, golden calf, idol, master

781
00:49:02,640 --> 00:49:07,279
Speaker 1: p toilet. There's a correlation there. And dude, the show

782
00:49:07,360 --> 00:49:10,160
Speaker 1: is called American Idol. Let's not forget about that. We

783
00:49:11,000 --> 00:49:14,480
Speaker 1: talked about these people. We worship these people and they

784
00:49:14,600 --> 00:49:17,719
Speaker 1: worship wealth. Therefore, let me using the royal we hear

785
00:49:17,760 --> 00:49:23,000
Speaker 1: we worship wealth. There aren't a lot of poor celebrities. Well,

786
00:49:23,040 --> 00:49:26,560
Speaker 1: it's also difficult to argue. You know, we've we've talked

787
00:49:26,600 --> 00:49:29,719
Speaker 1: about this off here too it's difficult to argue that

788
00:49:29,960 --> 00:49:34,160
Speaker 1: celebrities have not replaced the pantheons of old, you know,

789
00:49:34,719 --> 00:49:38,359
Speaker 1: because I think a lot of people are still kind

790
00:49:38,360 --> 00:49:41,640
Speaker 1: of surprised when we learned that. You know, in in

791
00:49:41,719 --> 00:49:47,600
Speaker 1: Greco Roman times, there wasn't just Zeus who does this,

792
00:49:48,320 --> 00:49:53,160
Speaker 1: or Vulcan or in Festes who does this. In different towns,

793
00:49:53,200 --> 00:49:55,839
Speaker 1: they would have different incarnations, you know what I mean,

794
00:49:56,280 --> 00:49:59,680
Speaker 1: different aspects or like facets of the jewel that is

795
00:49:59,719 --> 00:50:03,759
Speaker 1: this overall being, and this would mean that they have

796
00:50:04,080 --> 00:50:06,160
Speaker 1: there are a bunch there are a bunch of different

797
00:50:06,239 --> 00:50:10,040
Speaker 1: versions who specialized in different things. And you know, if

798
00:50:10,080 --> 00:50:12,200
Speaker 1: you want that specific thing, you're probably best to go

799
00:50:12,239 --> 00:50:14,640
Speaker 1: to the pilgrimage, to the one town where they were like, hey,

800
00:50:14,880 --> 00:50:16,720
Speaker 1: we like this thing so much that there's a statue

801
00:50:16,719 --> 00:50:20,000
Speaker 1: about it. And they also require probably different offerings and

802
00:50:20,080 --> 00:50:23,160
Speaker 1: different rituals depending on which version of the deity and

803
00:50:23,200 --> 00:50:28,719
Speaker 1: which services you seek. So speaking of Grecian temples to

804
00:50:28,800 --> 00:50:32,920
Speaker 1: the gods, let's talk about temples to money. Think about

805
00:50:32,920 --> 00:50:36,320
Speaker 1: the Bank of America building here in Atlanta, that giant

806
00:50:36,440 --> 00:50:42,560
Speaker 1: towering thing. It represents a global banking company, as you

807
00:50:43,000 --> 00:50:46,440
Speaker 1: the city of London. Yeah, have the city of London itself.

808
00:50:47,680 --> 00:50:50,600
Speaker 1: I mean, I'm just trying to imagine the World Trade

809
00:50:50,600 --> 00:50:55,560
Speaker 1: Center and the symbol of global trade. This the tallest

810
00:50:55,560 --> 00:50:58,080
Speaker 1: building in the world, and we built it because of

811
00:50:58,400 --> 00:51:03,000
Speaker 1: trade and money. M right. So I guess that leads

812
00:51:03,080 --> 00:51:10,600
Speaker 1: us to figuring out how how experts determine the value

813
00:51:10,920 --> 00:51:13,920
Speaker 1: of money. Right. We're building temples to it, right, and

814
00:51:14,000 --> 00:51:18,600
Speaker 1: we're building institutions to institutions. In some ways, you're kind

815
00:51:18,640 --> 00:51:21,759
Speaker 1: of like denominations of our religion at this point. So

816
00:51:22,040 --> 00:51:24,399
Speaker 1: we know that there are rights, we know there are rituals,

817
00:51:24,440 --> 00:51:27,879
Speaker 1: but how how do we actually figure out what what

818
00:51:27,920 --> 00:51:30,360
Speaker 1: this dollar thing is? Or what the you know, the

819
00:51:30,480 --> 00:51:33,279
Speaker 1: lira or the euro or yeah, or the you know,

820
00:51:34,239 --> 00:51:38,080
Speaker 1: have you have your picked the pound? The pound? Uh

821
00:51:38,280 --> 00:51:51,120
Speaker 1: will tell you after a word from our sponsor, welcome back.

822
00:51:51,160 --> 00:51:53,680
Speaker 1: We're still here, and we hope you are too. You

823
00:51:53,719 --> 00:51:56,320
Speaker 1: are right, You're you're still there and I left for

824
00:51:56,360 --> 00:51:59,440
Speaker 1: a minute, but I'm back. So there are three ways.

825
00:52:00,040 --> 00:52:02,920
Speaker 1: Hey guys, sorry, break, I just got back. Jeez, I

826
00:52:02,960 --> 00:52:06,279
Speaker 1: didn't mean to start without you better. I was just

827
00:52:06,440 --> 00:52:12,000
Speaker 1: under the table, all right. So there are three ways

828
00:52:12,120 --> 00:52:15,040
Speaker 1: that we measure the value of let's say the dollar

829
00:52:15,120 --> 00:52:18,759
Speaker 1: in particular. All right, Yeah, the first is how much

830
00:52:18,840 --> 00:52:22,040
Speaker 1: the dollar is going to buy in other foreign currencies

831
00:52:22,160 --> 00:52:26,360
Speaker 1: that's not the dollar. Uh, that's what the exchange rate measures.

832
00:52:26,520 --> 00:52:28,759
Speaker 1: You will hear people talk about that a lot. For

833
00:52:28,920 --> 00:52:33,440
Speaker 1: extraders in the foreign exchange market determine these exchange rates.

834
00:52:33,480 --> 00:52:36,120
Speaker 1: These are the guys who decide what it is worth.

835
00:52:36,239 --> 00:52:38,080
Speaker 1: It's sort of like the guy that weighs your soul

836
00:52:38,120 --> 00:52:44,160
Speaker 1: in the afterlife. Interesting. Yeah, so they take into account

837
00:52:44,680 --> 00:52:48,880
Speaker 1: supply and demand, like how many people not just like okay,

838
00:52:49,080 --> 00:52:53,719
Speaker 1: not just how many dollars does Matt have and how

839
00:52:53,719 --> 00:52:57,720
Speaker 1: many yen does that equal? But how many other people

840
00:52:57,840 --> 00:53:01,440
Speaker 1: are looking to convert dollars to yend versus converting yen

841
00:53:01,600 --> 00:53:04,000
Speaker 1: to dollars And what kind of trend do we see

842
00:53:04,040 --> 00:53:07,560
Speaker 1: forming here that we can speculate for a year, ten

843
00:53:07,640 --> 00:53:09,920
Speaker 1: years in the future. Yeah, and this is the reason

844
00:53:09,960 --> 00:53:15,440
Speaker 1: why in this in one day you're the money that

845
00:53:15,560 --> 00:53:22,399
Speaker 1: you have can fluctuate, usually not wildly, but sometimes there's yeah,

846
00:53:22,440 --> 00:53:25,239
Speaker 1: like in uh, like in the past with Germany when

847
00:53:25,239 --> 00:53:30,040
Speaker 1: it was experiencing hyper inflation and people had wheelbarrows full

848
00:53:30,640 --> 00:53:34,080
Speaker 1: of money that they had to get rid of. That day,

849
00:53:34,239 --> 00:53:39,239
Speaker 1: you know. Yeah, So what's the what's the second way. Well,

850
00:53:39,280 --> 00:53:43,680
Speaker 1: the second method is the value of treasury notes, the

851
00:53:43,760 --> 00:53:47,840
Speaker 1: te note at least here, uh, chairis dollars. The value

852
00:53:47,960 --> 00:53:50,759
Speaker 1: on the ten year te note. I'm about to tell

853
00:53:50,760 --> 00:53:53,799
Speaker 1: you what that thing is, the tina. They can be

854
00:53:53,880 --> 00:53:58,319
Speaker 1: converted easily into dollars through the secondary market for treasuries

855
00:53:58,680 --> 00:54:02,160
Speaker 1: when the demand for reasuries is high. The value of

856
00:54:02,160 --> 00:54:06,160
Speaker 1: the U. S. Dollar. Yeah, a treasury note or T

857
00:54:06,360 --> 00:54:10,520
Speaker 1: note as uh nolan kiras dollar. Want to say, does

858
00:54:10,560 --> 00:54:13,440
Speaker 1: everybody get kiris doll Is he like, does he go

859
00:54:13,560 --> 00:54:16,239
Speaker 1: to all of the United States? I think he's syndicate.

860
00:54:18,800 --> 00:54:21,359
Speaker 1: Come on, get with the NBR pro market places, an

861
00:54:21,480 --> 00:54:25,880
Speaker 1: NPR show, Get with the NPR programming, which is uh,

862
00:54:25,880 --> 00:54:30,440
Speaker 1: which is um for anybody who says, oh, NPR is

863
00:54:31,280 --> 00:54:34,960
Speaker 1: uh too politically one way or the other for me, uh,

864
00:54:35,120 --> 00:54:37,839
Speaker 1: marketplace doesn't really touch that. Now. It's just a nice

865
00:54:38,000 --> 00:54:42,520
Speaker 1: entertaining look at international finance. Um. But the guy's kind

866
00:54:42,520 --> 00:54:49,959
Speaker 1: of snarky sometimes every time. That's today. But first let's

867
00:54:49,960 --> 00:54:54,160
Speaker 1: do the numbers. Yes, yeah, So a treasury note or

868
00:54:54,239 --> 00:54:58,600
Speaker 1: teo is a government debt security and it has a

869
00:54:58,640 --> 00:55:03,720
Speaker 1: fixed interest rate, and you can get it back after

870
00:55:04,440 --> 00:55:09,359
Speaker 1: between one to ten years, so they're always available from

871
00:55:09,400 --> 00:55:15,520
Speaker 1: the government and you. They're really popular investments because they

872
00:55:15,760 --> 00:55:19,880
Speaker 1: are pretty secure, they're pretty reliable. Is this like a

873
00:55:19,920 --> 00:55:22,880
Speaker 1: bond like my grandpa gave me when I was a

874
00:55:22,880 --> 00:55:24,839
Speaker 1: little little boy, and then I cashed it in for

875
00:55:24,880 --> 00:55:26,400
Speaker 1: a lot more money than it was worth when he

876
00:55:26,400 --> 00:55:31,840
Speaker 1: bought it. Yes, sort of, because the the real difference

877
00:55:31,960 --> 00:55:34,600
Speaker 1: is the time you have to wait before you collect

878
00:55:35,080 --> 00:55:38,200
Speaker 1: your money, before you get your money back. So treasury

879
00:55:38,239 --> 00:55:41,680
Speaker 1: bills have maturities of year or less. Treasury notes go

880
00:55:41,960 --> 00:55:45,560
Speaker 1: between two to ten years. Treasury bonds are long term

881
00:55:45,600 --> 00:55:48,160
Speaker 1: and they have maturities at ten to thirty years. Yeah,

882
00:55:48,200 --> 00:55:49,600
Speaker 1: that's the one are you talking about. You got one

883
00:55:49,600 --> 00:55:51,640
Speaker 1: of these from your grandpapa. Yeah, but it was only

884
00:55:51,680 --> 00:55:54,080
Speaker 1: like ten bucks or something, but it was worth it

885
00:55:54,160 --> 00:55:57,160
Speaker 1: was worth I forget exactly how much it was. I

886
00:55:57,200 --> 00:55:59,640
Speaker 1: was surprised. I was like, man, why don't we put

887
00:55:59,680 --> 00:56:01,960
Speaker 1: all our mone in these things? Do you have to

888
00:56:02,000 --> 00:56:08,880
Speaker 1: wait a while? Well? About of approximately five trillion and

889
00:56:08,960 --> 00:56:12,319
Speaker 1: outstanding debt is not made up of savings bonds, but

890
00:56:12,440 --> 00:56:16,680
Speaker 1: of marketable or tradeable securities called bills, notes and bonds,

891
00:56:17,480 --> 00:56:21,120
Speaker 1: and this is kind of a vote of confidence in

892
00:56:21,160 --> 00:56:25,399
Speaker 1: the US government, right. Uh. And when the demand, when

893
00:56:25,440 --> 00:56:28,520
Speaker 1: a lot of people are saying, oh, I gotta hot

894
00:56:28,600 --> 00:56:31,600
Speaker 1: take it on some T notes, just as Noel said,

895
00:56:31,600 --> 00:56:34,440
Speaker 1: when when more people want those things, the value of

896
00:56:34,480 --> 00:56:39,160
Speaker 1: the US dollar overall rises and in other countries by

897
00:56:39,200 --> 00:56:44,120
Speaker 1: these two. It's not just you know, uh, Jane and

898
00:56:44,200 --> 00:56:48,680
Speaker 1: Joe Americana just the name I made up. Anyway, there's

899
00:56:48,719 --> 00:56:51,359
Speaker 1: another way to do this, right. The third way is

900
00:56:51,400 --> 00:56:55,720
Speaker 1: through foreign exchange reserves. That is, the amount of dollars

901
00:56:55,760 --> 00:56:58,759
Speaker 1: held by foreign governments. Um, the more they hold, the

902
00:56:58,920 --> 00:57:02,400
Speaker 1: lower the supply. It makes sense, and that makes US

903
00:57:02,480 --> 00:57:05,200
Speaker 1: money more valuable. So if foreign governments were to sell

904
00:57:05,239 --> 00:57:08,160
Speaker 1: all their dollar and treasury holdings, the dollar would collapse.

905
00:57:08,160 --> 00:57:11,400
Speaker 1: So this is like what when when people called China

906
00:57:11,719 --> 00:57:15,160
Speaker 1: a currency manipulator, this idea that it can somehow cause

907
00:57:15,280 --> 00:57:19,080
Speaker 1: some sort of serious fluctuation of our currency value by

908
00:57:19,360 --> 00:57:23,280
Speaker 1: flooding the market, selling off like selling off all their

909
00:57:24,000 --> 00:57:26,880
Speaker 1: all their holdings of US dollars and stuff and saying

910
00:57:26,920 --> 00:57:29,280
Speaker 1: we don't want it. But apparently that's that's a myth.

911
00:57:29,320 --> 00:57:32,120
Speaker 1: I mean, that's not even really a thing. Well, it's

912
00:57:32,160 --> 00:57:34,640
Speaker 1: kind of a nuclear move because it would also be

913
00:57:34,760 --> 00:57:38,640
Speaker 1: it would also have a dangerous effect because the US

914
00:57:38,760 --> 00:57:41,920
Speaker 1: is one of China's largest markets. So it's kind of

915
00:57:41,960 --> 00:57:48,479
Speaker 1: a shooting yourself in the kneecap despite your business partners.

916
00:57:48,920 --> 00:57:54,160
Speaker 1: I'll show you, uh yeah, it's you know, it's it's

917
00:57:54,160 --> 00:57:59,400
Speaker 1: like codependent relationship. So we've got this right. These are

918
00:57:59,400 --> 00:58:03,520
Speaker 1: the three man bids we've outlined, which in some way

919
00:58:03,600 --> 00:58:07,520
Speaker 1: or another depend on this aggregate demand of other people.

920
00:58:07,840 --> 00:58:10,160
Speaker 1: What does the rest of the world want, What does

921
00:58:10,200 --> 00:58:13,160
Speaker 1: the rest of the world believe will be more effective?

922
00:58:14,520 --> 00:58:17,360
Speaker 1: So what happens when this goes wrong? If money has

923
00:58:17,400 --> 00:58:21,200
Speaker 1: no intrinsic value, then it can potentially be moved in

924
00:58:21,200 --> 00:58:24,000
Speaker 1: a relatively arbitrary manner. No one wants to spend too

925
00:58:24,040 --> 00:58:26,680
Speaker 1: much time on this in the mass media because, in

926
00:58:26,720 --> 00:58:29,000
Speaker 1: my opinion, and this is just my opinion, folks, it

927
00:58:29,040 --> 00:58:32,480
Speaker 1: would create an Emperor's new clothes situation. All it takes

928
00:58:32,600 --> 00:58:37,040
Speaker 1: is for one person to go, hang on and I

929
00:58:37,080 --> 00:58:42,960
Speaker 1: think that guy's naked up right right. It could literally

930
00:58:43,080 --> 00:58:46,560
Speaker 1: endanger the U S economy for this, this house of

931
00:58:46,600 --> 00:58:49,840
Speaker 1: cars to fall. An example of this would or example

932
00:58:49,840 --> 00:58:51,720
Speaker 1: of when this came close would be the what's known

933
00:58:51,720 --> 00:58:54,560
Speaker 1: as the lib or scandal. It's a little dry, so

934
00:58:54,720 --> 00:58:57,120
Speaker 1: please help me out with any like hype man stuff

935
00:58:57,160 --> 00:59:00,200
Speaker 1: if you want. We'll keep it to the basics. BOAR

936
00:59:00,360 --> 00:59:02,960
Speaker 1: is an acronym for what's known as the London Interbank

937
00:59:03,080 --> 00:59:09,720
Speaker 1: offered rate, the average of interest rates estimated by each

938
00:59:09,760 --> 00:59:11,920
Speaker 1: of the leading banks in London that it would be

939
00:59:12,040 --> 00:59:16,480
Speaker 1: charged were it to borrow from other banks. So these

940
00:59:16,520 --> 00:59:22,800
Speaker 1: banks estimate how much, you know, like the Her Majesty's

941
00:59:22,840 --> 00:59:28,600
Speaker 1: Bank of matt would say that's that's perfect. It would say,

942
00:59:29,040 --> 00:59:31,240
Speaker 1: you know, we go to the Royal Bank of Noll

943
00:59:31,640 --> 00:59:35,280
Speaker 1: and they would each say, well, we to borrow funds

944
00:59:35,360 --> 00:59:42,480
Speaker 1: from one another, we would assign it at the following rates. Yeah,

945
00:59:42,520 --> 00:59:46,080
Speaker 1: And what it turned out, surprise, surprise, the banks were

946
00:59:46,160 --> 00:59:51,280
Speaker 1: falsely inflating or deflating their rates together so they can

947
00:59:51,320 --> 00:59:53,760
Speaker 1: make a bigger profit or give the impression that they

948
00:59:53,760 --> 01:00:01,000
Speaker 1: were better off than they were. That's about right. Let's

949
01:00:01,000 --> 01:00:03,800
Speaker 1: give it up for Nola on the sound effects like

950
01:00:03,800 --> 01:00:07,280
Speaker 1: a morning show, now like the morning zoo, tell me

951
01:00:07,400 --> 01:00:12,040
Speaker 1: the gooch? Oh no, what was the other can be

952
01:00:12,160 --> 01:00:16,400
Speaker 1: skeeter and be could be Benji I know Benji is

953
01:00:16,440 --> 01:00:19,640
Speaker 1: a terrible name. Give me what's your what's your morning?

954
01:00:19,720 --> 01:00:25,120
Speaker 1: Is your name? That's me? You're the douche, I'm the

955
01:00:25,160 --> 01:00:30,040
Speaker 1: good I thought you were two hands. Oh yeah, two hands.

956
01:00:31,040 --> 01:00:33,560
Speaker 1: I guess I would go with um. What sounds weird?

957
01:00:33,680 --> 01:00:36,160
Speaker 1: What would be good for a sound? Cute? Uh? Sneak bite?

958
01:00:36,640 --> 01:00:40,840
Speaker 1: Oh good, that's good. I like that steak by all right?

959
01:00:41,160 --> 01:00:45,200
Speaker 1: How about steak knife? About the whole thing? Snake bite,

960
01:00:45,200 --> 01:00:49,560
Speaker 1: steak knife? Moving on? What's wrong? Gooch? You're walking away

961
01:00:49,600 --> 01:00:53,000
Speaker 1: from this? Pick Alex, keep keep what you will of this. No, Alex,

962
01:00:53,080 --> 01:00:59,000
Speaker 1: we're rolling. We're keeping this all wells here alright, so

963
01:01:00,080 --> 01:01:04,120
Speaker 1: boite being Uh. If money was pinned to an existing commodity,

964
01:01:04,200 --> 01:01:06,720
Speaker 1: a tangible asset, then it could not have its value

965
01:01:07,280 --> 01:01:11,720
Speaker 1: moved as arbitrarily. Right as a guy named Tom Hayes

966
01:01:11,800 --> 01:01:16,000
Speaker 1: was the only person convicted in connection with this scandal. Uh.

967
01:01:16,200 --> 01:01:19,200
Speaker 1: Six other bankers in the UK were accused of it

968
01:01:19,240 --> 01:01:23,000
Speaker 1: but cleared in early These guys were literally writing emails

969
01:01:23,040 --> 01:01:28,760
Speaker 1: to each other say, LOI they change that interest, right,

970
01:01:31,200 --> 01:01:33,400
Speaker 1: but I'm not sure what that was. Well, that's this

971
01:01:33,480 --> 01:01:36,400
Speaker 1: is a familiar thing that you might know when banks

972
01:01:36,440 --> 01:01:40,440
Speaker 1: get in big trouble for manipulating something or doing allgal

973
01:01:40,600 --> 01:01:45,320
Speaker 1: legal deals with drugs or other bad no no things.

974
01:01:45,760 --> 01:01:47,520
Speaker 1: It's a little bit of a snap of the wrist.

975
01:01:47,880 --> 01:01:50,520
Speaker 1: That's literally how I view the banks. Think, Oh, that's

976
01:01:50,560 --> 01:01:52,440
Speaker 1: a no no, I guess we shouldn't do. It's the

977
01:01:52,480 --> 01:01:55,160
Speaker 1: same way my one year old treats touching the dog's

978
01:01:55,200 --> 01:01:57,040
Speaker 1: water bowl. It's like, oh, is it a no no

979
01:01:57,480 --> 01:01:59,800
Speaker 1: hand in the water bowl? Oh? Was that a known

980
01:01:59,840 --> 01:02:02,000
Speaker 1: up hand in the water bowls? My girlfriend would eats

981
01:02:02,000 --> 01:02:03,880
Speaker 1: you alive. She literally made fun of me for saying

982
01:02:03,880 --> 01:02:06,080
Speaker 1: melty the other day. She's like, you talk like such

983
01:02:06,120 --> 01:02:09,520
Speaker 1: a dad, like me, melty, melty, it was a drink,

984
01:02:09,520 --> 01:02:11,520
Speaker 1: it was melt. It wasn't melted. It was me. It

985
01:02:11,560 --> 01:02:19,000
Speaker 1: was melty. I ever said in the face. She would

986
01:02:19,400 --> 01:02:21,880
Speaker 1: well keep her away from me, all right, she's she's

987
01:02:21,960 --> 01:02:24,760
Speaker 1: she's scary. Well, I think you make a good point, daddy,

988
01:02:24,760 --> 01:02:28,280
Speaker 1: No no. But the whole point, the whole point of

989
01:02:28,280 --> 01:02:30,840
Speaker 1: that is just to say, I'm not gonna punish the

990
01:02:30,880 --> 01:02:32,880
Speaker 1: heck out of my little son because he's just touching

991
01:02:32,920 --> 01:02:34,920
Speaker 1: the water bowl. He's just having a good time. It's

992
01:02:34,920 --> 01:02:37,040
Speaker 1: the same with these bankers. They're just trying to make

993
01:02:37,080 --> 01:02:39,400
Speaker 1: that money. Well, I think it's just normalized as a

994
01:02:39,480 --> 01:02:42,080
Speaker 1: cost of business, at least here in the US. You know,

995
01:02:42,160 --> 01:02:46,440
Speaker 1: if you're doing something illegal and you make five million

996
01:02:46,480 --> 01:02:50,120
Speaker 1: dollars off of it just for the sake of argument,

997
01:02:50,440 --> 01:02:54,360
Speaker 1: and then you're find thirty million dollars, but you don't

998
01:02:54,360 --> 01:02:57,200
Speaker 1: go to jail and you can keep doing business. That's

999
01:02:57,240 --> 01:03:02,560
Speaker 1: just the tax. But but bless we get too derailed.

1000
01:03:03,240 --> 01:03:07,160
Speaker 1: How is money handled in religious organizations? Hey, should we

1001
01:03:07,200 --> 01:03:08,920
Speaker 1: go back to the Bible, you guys for a quick verse.

1002
01:03:09,040 --> 01:03:10,560
Speaker 1: I'll tell you one thing they got a different name for.

1003
01:03:10,600 --> 01:03:12,280
Speaker 1: They don't call it money at all, do they they

1004
01:03:12,320 --> 01:03:17,760
Speaker 1: call it? That is a whole situation that we're gonna

1005
01:03:17,800 --> 01:03:21,680
Speaker 1: have to get into. But let's start with Matthew ten

1006
01:03:21,760 --> 01:03:25,160
Speaker 1: through twelve. When Jesus entered Jerusalem, the whole city was

1007
01:03:25,200 --> 01:03:29,640
Speaker 1: stirred and asked who is this? The crowds answered, list

1008
01:03:29,760 --> 01:03:33,440
Speaker 1: is Jesus, the prophet from now's Earth and Galilee. Jesus

1009
01:03:33,520 --> 01:03:36,200
Speaker 1: entered the temple courts and drove out all who were

1010
01:03:36,240 --> 01:03:39,280
Speaker 1: buying and selling there. He overturned the tables of the

1011
01:03:39,320 --> 01:03:43,200
Speaker 1: money changers and the benches of those who were selling doves.

1012
01:03:44,240 --> 01:03:48,080
Speaker 1: It is written he said to them, my house would

1013
01:03:48,080 --> 01:03:51,600
Speaker 1: be called a house of prowl, but you I'm making

1014
01:03:51,600 --> 01:03:57,880
Speaker 1: it a dinner rubbles. That Jesus is interesting, Okay, so

1015
01:03:57,960 --> 01:04:04,680
Speaker 1: let's get into tystly different flavors of differents right different

1016
01:04:05,320 --> 01:04:08,360
Speaker 1: the latest episode. So this is showing that way back

1017
01:04:08,400 --> 01:04:11,919
Speaker 1: in the day, Jesus one of the most central figures too,

1018
01:04:12,480 --> 01:04:14,840
Speaker 1: well these central figures to Christianity, but one of the

1019
01:04:14,880 --> 01:04:19,840
Speaker 1: most central figures to any religion that has ever existed

1020
01:04:20,000 --> 01:04:23,240
Speaker 1: in the history. Is they're going into the houses of

1021
01:04:23,280 --> 01:04:27,160
Speaker 1: worship in a very big place in in Jerusalem and

1022
01:04:29,040 --> 01:04:31,959
Speaker 1: throwing literally throwing out the people who are dealing with money,

1023
01:04:31,960 --> 01:04:34,880
Speaker 1: and he's flipping tables left and right, bulking out on

1024
01:04:34,960 --> 01:04:37,640
Speaker 1: the money changers, even the dove. The people just trying

1025
01:04:37,680 --> 01:04:40,200
Speaker 1: to make a little scratch on doves. The money changers

1026
01:04:40,320 --> 01:04:43,520
Speaker 1: or the ancient loan sharks might be practicing usery, which

1027
01:04:43,560 --> 01:04:48,000
Speaker 1: is huge, huge problem. Also, Yeah, as Matt said, Jesus

1028
01:04:48,040 --> 01:04:51,720
Speaker 1: is a central figure in Abramaic religions. He's a very

1029
01:04:51,760 --> 01:04:54,960
Speaker 1: prominent prophet. In two I've actually believed Jesus as a

1030
01:04:54,960 --> 01:04:57,400
Speaker 1: prophet is quoted more in the Koran than he is

1031
01:04:57,440 --> 01:05:01,640
Speaker 1: in the Christian Bible fun fa x right. But now

1032
01:05:01,760 --> 01:05:04,600
Speaker 1: it leads us to a situation where we literally do

1033
01:05:04,640 --> 01:05:08,000
Speaker 1: not know how much money the Catholic Church has. The

1034
01:05:08,080 --> 01:05:13,720
Speaker 1: Catholic Church it's changed has, yeah, now has a huge

1035
01:05:14,320 --> 01:05:20,720
Speaker 1: financial footprint and impact. We have other we have other

1036
01:05:20,760 --> 01:05:23,360
Speaker 1: episodes that go in depth upon this, and we do

1037
01:05:23,800 --> 01:05:25,680
Speaker 1: ask you to check them out if you're interested. You

1038
01:05:25,680 --> 01:05:27,360
Speaker 1: can find them all and stuff they don't want you

1039
01:05:27,400 --> 01:05:34,360
Speaker 1: to know dot com. But money interacts with religion. One

1040
01:05:34,360 --> 01:05:38,960
Speaker 1: of the money is one of the primary circuits of

1041
01:05:39,160 --> 01:05:43,960
Speaker 1: power now, right, And that circuit of power is being

1042
01:05:44,240 --> 01:05:51,160
Speaker 1: used by various religious movements, and does it exist now

1043
01:05:51,240 --> 01:05:54,320
Speaker 1: as a religious movement of its own. We I think

1044
01:05:54,360 --> 01:05:58,480
Speaker 1: we've done an alright job of outlining some pretty surprising similarities.

1045
01:05:58,840 --> 01:06:01,360
Speaker 1: And of course we're not den and rating anybody's religion

1046
01:06:01,840 --> 01:06:06,440
Speaker 1: or a denigrade in the economy, but we do see

1047
01:06:07,640 --> 01:06:10,720
Speaker 1: that these things are not as dissimilar as they might appear,

1048
01:06:11,160 --> 01:06:13,640
Speaker 1: you know, And and this is without even getting into

1049
01:06:14,000 --> 01:06:19,800
Speaker 1: prosperity theology, which you guys know, and Nolan, Matt and

1050
01:06:19,840 --> 01:06:22,120
Speaker 1: Alex and I know about this because we're in the

1051
01:06:22,200 --> 01:06:26,320
Speaker 1: south of the United States, we're talking about and trying

1052
01:06:26,320 --> 01:06:28,480
Speaker 1: to dollar trying to get those ties that we were

1053
01:06:28,480 --> 01:06:31,680
Speaker 1: talking about, get that he needs another goal plate a jet. Yeah,

1054
01:06:31,720 --> 01:06:34,120
Speaker 1: I mean it's got to get places. Or you know

1055
01:06:34,640 --> 01:06:37,360
Speaker 1: my Versace suits that I gotta wear because I have

1056
01:06:37,400 --> 01:06:39,640
Speaker 1: to look good before God. You look great in those

1057
01:06:39,680 --> 01:06:41,760
Speaker 1: VERSACEI suits, Matt Well, and just the idea that you

1058
01:06:41,800 --> 01:06:47,480
Speaker 1: can convince other people that that is true enough that

1059
01:06:47,560 --> 01:06:51,480
Speaker 1: you get enough money for a plane. Yeah, yeah, I

1060
01:06:51,480 --> 01:06:53,480
Speaker 1: don't know. It's It's like, when you look at it

1061
01:06:53,520 --> 01:06:57,280
Speaker 1: that way, you could argue that religion has its own

1062
01:06:57,280 --> 01:07:00,640
Speaker 1: specific purpose that can be positive in people's lives. Money

1063
01:07:00,680 --> 01:07:04,160
Speaker 1: also obviously gives you the ability to have a um

1064
01:07:04,200 --> 01:07:07,440
Speaker 1: easily discernible way of taking care of your family and

1065
01:07:07,520 --> 01:07:10,640
Speaker 1: getting services provided for yourself that you need. But they

1066
01:07:10,640 --> 01:07:13,080
Speaker 1: can kind of be tools of each other, like money

1067
01:07:13,160 --> 01:07:15,680
Speaker 1: can be a tool of religion, and religion can be

1068
01:07:15,720 --> 01:07:19,000
Speaker 1: a tool of the powerful to manipulate people and get

1069
01:07:19,040 --> 01:07:22,360
Speaker 1: people to fall in line and act as they they

1070
01:07:22,640 --> 01:07:25,600
Speaker 1: the they in our show. I guess um right, Yeah,

1071
01:07:25,640 --> 01:07:28,280
Speaker 1: you are a peasant because that is the natural order

1072
01:07:28,320 --> 01:07:31,520
Speaker 1: of the world. Or like during the an Age of

1073
01:07:31,600 --> 01:07:34,960
Speaker 1: Chattel slavery in the American South, where they would have

1074
01:07:35,560 --> 01:07:40,000
Speaker 1: pastors twisting religious ideology to say, if you are good

1075
01:07:40,040 --> 01:07:43,000
Speaker 1: slaves and do not rebel, you will go to heaven

1076
01:07:43,200 --> 01:07:46,600
Speaker 1: where you will wear white sackcloth and serve your masters forever.

1077
01:07:47,320 --> 01:07:49,360
Speaker 1: I think you're right. People are very very good at

1078
01:07:49,360 --> 01:07:52,760
Speaker 1: twisting things to their own ends as we as we

1079
01:07:52,800 --> 01:07:56,720
Speaker 1: look at this, let's let's recall the definition of a god.

1080
01:07:57,120 --> 01:08:00,120
Speaker 1: What is a god. It's a being or object to

1081
01:08:00,160 --> 01:08:04,400
Speaker 1: believe to have more than natural abilities and powers, and

1082
01:08:04,560 --> 01:08:09,720
Speaker 1: it requires human worships, specifically one controlling a particular aspect

1083
01:08:09,960 --> 01:08:13,560
Speaker 1: or a piece of reality. So then by that definition,

1084
01:08:13,680 --> 01:08:16,240
Speaker 1: is it arguable that even if money itself is not

1085
01:08:16,320 --> 01:08:20,639
Speaker 1: a religion, it could be defined as a God. Oh,

1086
01:08:20,760 --> 01:08:24,080
Speaker 1: I think so. I absolutely think so. If if God's

1087
01:08:24,120 --> 01:08:28,360
Speaker 1: like Zeus, Indra, Odin or Wodin, let's just call him

1088
01:08:28,360 --> 01:08:32,400
Speaker 1: Wednesday and Almond can exist inside the human mind for

1089
01:08:32,600 --> 01:08:37,360
Speaker 1: thousands and thousands of years as these unseen influencers that

1090
01:08:37,479 --> 01:08:40,160
Speaker 1: control various parts of life. The way you know this

1091
01:08:40,280 --> 01:08:43,960
Speaker 1: definition of God is then this tangible thing, this actual

1092
01:08:44,000 --> 01:08:46,920
Speaker 1: thing called money, that has measurable control over the fate

1093
01:08:47,000 --> 01:08:50,280
Speaker 1: of everything living on this planet and the planet itself.

1094
01:08:50,960 --> 01:08:53,960
Speaker 1: I think that thing money should be considered the same,

1095
01:08:54,000 --> 01:08:58,000
Speaker 1: if not more powerful than a god. That's that's kind

1096
01:08:58,040 --> 01:09:00,800
Speaker 1: of crazy to say. And sorry that I said it

1097
01:09:00,840 --> 01:09:04,200
Speaker 1: for some of you, but for others. There you go. Well,

1098
01:09:04,240 --> 01:09:07,799
Speaker 1: you know, think about it. It's like the old Batman argument,

1099
01:09:07,920 --> 01:09:10,840
Speaker 1: which they finally acknowledged in the latest trailer for The

1100
01:09:10,960 --> 01:09:15,360
Speaker 1: Justice League. It does Batman have a superpower? Well, if

1101
01:09:15,479 --> 01:09:19,960
Speaker 1: money is a representation of effort over time, then Batman

1102
01:09:20,000 --> 01:09:22,600
Speaker 1: most certainly does have a superpower. He has money to

1103
01:09:22,640 --> 01:09:25,200
Speaker 1: the point where it's like time travel. How many years

1104
01:09:25,200 --> 01:09:28,320
Speaker 1: would it take to build a cave and a batmobile

1105
01:09:28,360 --> 01:09:31,240
Speaker 1: a bat suit alone by yourself to your own So

1106
01:09:31,320 --> 01:09:33,400
Speaker 1: now you have, Yes, now you have the hours of

1107
01:09:33,439 --> 01:09:37,800
Speaker 1: other people's labor. Is very close to time travel. And

1108
01:09:37,960 --> 01:09:41,519
Speaker 1: as paper currency continues to be phased out in favor

1109
01:09:41,560 --> 01:09:46,160
Speaker 1: of digitized numbers and accounts, money begins to seem more

1110
01:09:46,160 --> 01:09:50,040
Speaker 1: and more like an abstract, unseen force, you know. And

1111
01:09:50,840 --> 01:09:54,680
Speaker 1: again it's it's a very We are not We are

1112
01:09:54,720 --> 01:09:58,400
Speaker 1: not saying that there are people who literally worship money,

1113
01:09:58,439 --> 01:10:02,320
Speaker 1: and we are not saying that any belief that you

1114
01:10:02,400 --> 01:10:05,960
Speaker 1: choose to have is anything other than your own. But

1115
01:10:06,080 --> 01:10:09,519
Speaker 1: we are saying that there are a surprising amount of

1116
01:10:09,520 --> 01:10:13,640
Speaker 1: similarities here and it's an interesting question. And you know,

1117
01:10:13,760 --> 01:10:16,120
Speaker 1: we we went back and forth a little bit on

1118
01:10:16,160 --> 01:10:20,559
Speaker 1: who the who were the they of this episode. They

1119
01:10:20,800 --> 01:10:25,080
Speaker 1: could be the people who are fixing interest rates just

1120
01:10:25,280 --> 01:10:29,559
Speaker 1: arbitrarily amongst themselves, conspiring to do so. That's not a theory,

1121
01:10:29,640 --> 01:10:32,400
Speaker 1: that's a fact. It could be the people that print

1122
01:10:32,560 --> 01:10:37,080
Speaker 1: the money, the central banks and institutions that actually create

1123
01:10:37,120 --> 01:10:40,960
Speaker 1: the currency that gets loaned out. Yeah, but what do

1124
01:10:41,000 --> 01:10:43,240
Speaker 1: you think we want to hear from you? Which reminds

1125
01:10:43,360 --> 01:10:46,160
Speaker 1: us Uh, Usually we do three of these, but I

1126
01:10:46,200 --> 01:10:48,760
Speaker 1: think we've we've gone a little long today, so we'll

1127
01:10:48,760 --> 01:10:55,280
Speaker 1: just do too. It's time for Chat at Conners. Our

1128
01:10:55,320 --> 01:10:59,040
Speaker 1: first shoutout goes to Zachary. Zachary says love the show

1129
01:10:59,120 --> 01:11:01,479
Speaker 1: at the end of the last episode. I think this

1130
01:11:01,520 --> 01:11:05,400
Speaker 1: one is referring to the Serial Killers episode. I believe

1131
01:11:06,000 --> 01:11:09,120
Speaker 1: there was a discussion on essentially laundering bitcoin, and you

1132
01:11:09,160 --> 01:11:12,040
Speaker 1: guys weren't sure if it was possible. It is, and

1133
01:11:12,120 --> 01:11:15,679
Speaker 1: it's done via via a tumbling service where your coins

1134
01:11:15,680 --> 01:11:19,000
Speaker 1: are deposited with the tumbling company and then they send

1135
01:11:19,040 --> 01:11:22,240
Speaker 1: you a randomized set from other users. So I guess

1136
01:11:22,320 --> 01:11:26,080
Speaker 1: it sources bitcoins from other users and send your bitcoins

1137
01:11:26,120 --> 01:11:30,120
Speaker 1: to fill back into their accounts UM and thus it

1138
01:11:30,200 --> 01:11:34,000
Speaker 1: breaks the traceable link. But I would say that's still traceable.

1139
01:11:34,600 --> 01:11:37,320
Speaker 1: But maybe not. Maybe the tumbling service doesn't keep a

1140
01:11:37,400 --> 01:11:41,439
Speaker 1: record of where the stuff went or all the different

1141
01:11:41,520 --> 01:11:44,160
Speaker 1: chards may maybe it makes it much more difficult to track.

1142
01:11:44,479 --> 01:11:46,720
Speaker 1: I can see that. Thanks Zachary, I didn't know that

1143
01:11:46,800 --> 01:11:51,000
Speaker 1: tumbling was a thing. Yeah, yeah, that's interesting because I

1144
01:11:51,000 --> 01:11:53,000
Speaker 1: had I had no idea, And I'm still sort of

1145
01:11:53,040 --> 01:11:59,160
Speaker 1: skeptical whenever somebody says, I'll launder this for you, right,

1146
01:11:59,720 --> 01:12:01,800
Speaker 1: even it if I brought the bag of laundry through

1147
01:12:01,800 --> 01:12:06,280
Speaker 1: a laundrom Matt and I am like, hold on snake By. Uh,

1148
01:12:06,479 --> 01:12:11,680
Speaker 1: snake By doesn't trust new launderers. But the the thing

1149
01:12:11,720 --> 01:12:14,679
Speaker 1: that I am skeptical about often is when people say, oh,

1150
01:12:14,720 --> 01:12:18,880
Speaker 1: this this is anonymous online just because of the nature

1151
01:12:18,880 --> 01:12:21,080
Speaker 1: of the gate keeping, I think you can make it

1152
01:12:21,200 --> 01:12:26,320
Speaker 1: difficult to trace something. But also I completely believe that

1153
01:12:26,560 --> 01:12:29,920
Speaker 1: the public at large does not know the extent of

1154
01:12:30,080 --> 01:12:35,600
Speaker 1: intelligence agencies tools. We don't know, uh, the information that

1155
01:12:35,640 --> 01:12:38,400
Speaker 1: we get in leaks is probably several years old, so

1156
01:12:39,000 --> 01:12:44,160
Speaker 1: I am skeptical, but to know that it's even possible, Zachary,

1157
01:12:44,240 --> 01:12:46,840
Speaker 1: thank you so much for writing to us. Our next

1158
01:12:46,840 --> 01:12:50,160
Speaker 1: shout out comes from and too. I guess is a

1159
01:12:50,200 --> 01:12:52,760
Speaker 1: shout out before? Is it to some money or are

1160
01:12:52,800 --> 01:12:56,400
Speaker 1: they shouting out at um just like yelling at each

1161
01:12:56,400 --> 01:12:58,639
Speaker 1: other and just kind of this is we should change

1162
01:12:58,640 --> 01:13:00,160
Speaker 1: the end of the segment to the stuff that don't

1163
01:13:00,160 --> 01:13:04,240
Speaker 1: want you to know Echo Chamber. Oh man, you know,

1164
01:13:04,280 --> 01:13:06,519
Speaker 1: I don't know about that, because I think people really

1165
01:13:06,600 --> 01:13:09,080
Speaker 1: enjoy I'll be right in, Ladies and gentlemen, let us

1166
01:13:09,120 --> 01:13:11,799
Speaker 1: know if you have a name that you would prefer.

1167
01:13:11,920 --> 01:13:14,080
Speaker 1: But I think I think we all really enjoy shout

1168
01:13:14,120 --> 01:13:17,800
Speaker 1: out corner and skadooche. Yeah, sometimes you catch lightning in

1169
01:13:17,840 --> 01:13:19,760
Speaker 1: a bottle. I don't know. It's like a second and

1170
01:13:19,840 --> 01:13:22,360
Speaker 1: second catch raiser rebrand though, what do you guys think

1171
01:13:23,360 --> 01:13:26,480
Speaker 1: I'm gonna I'm gonna say we stick with it unless

1172
01:13:26,960 --> 01:13:29,160
Speaker 1: because all of our best ideas come from you, ladies

1173
01:13:29,160 --> 01:13:33,439
Speaker 1: and gentlemen, unless you have one that we think will

1174
01:13:33,479 --> 01:13:36,840
Speaker 1: really just just pop. I mean, it's a tall order,

1175
01:13:36,920 --> 01:13:40,160
Speaker 1: like I'm gonna tell you, don't don't get uh don't

1176
01:13:40,160 --> 01:13:42,320
Speaker 1: get your hopes up because I'm a big fan of skadoos.

1177
01:13:42,439 --> 01:13:50,080
Speaker 1: What if it's and to Zachary. Our next shout out

1178
01:13:50,160 --> 01:13:53,800
Speaker 1: comes from iron Wang on Twitter. What um, yeah see

1179
01:13:53,840 --> 01:13:56,760
Speaker 1: this his name? I don't know, it's probably is last name.

1180
01:13:56,760 --> 01:13:58,720
Speaker 1: It's a big world, guys, A lot of people, a

1181
01:13:58,720 --> 01:14:03,479
Speaker 1: lot of things going on. Nicknames abound. Um he uh

1182
01:14:03,520 --> 01:14:07,479
Speaker 1: I am. Mr Wang asks have you already or thought

1183
01:14:07,560 --> 01:14:10,960
Speaker 1: about doing a show about the thought police in her

1184
01:14:11,000 --> 01:14:19,800
Speaker 1: censorship or expression online? And he says, alright, yeah, well, well,

1185
01:14:19,880 --> 01:14:22,639
Speaker 1: iron Wing, I think that we have done a couple

1186
01:14:22,640 --> 01:14:25,439
Speaker 1: of things that you might enjoy. We talked about how

1187
01:14:25,680 --> 01:14:29,720
Speaker 1: bots or shills as they're commonly called, will attempt to

1188
01:14:30,280 --> 01:14:34,479
Speaker 1: control a narrative for a controversial issue, uh, and you

1189
01:14:34,520 --> 01:14:40,360
Speaker 1: can check that out on our website. As far as censorship,

1190
01:14:40,400 --> 01:14:42,680
Speaker 1: we talked a little bit about the search bubble in

1191
01:14:42,720 --> 01:14:46,960
Speaker 1: the past, right, and that's where uh, for advertising purposes

1192
01:14:47,040 --> 01:14:51,360
Speaker 1: or for what they call a seamless experience, places like

1193
01:14:51,479 --> 01:14:57,200
Speaker 1: Facebook or Google will attempt to show you things they

1194
01:14:57,240 --> 01:15:00,280
Speaker 1: think you will readily agree with, rather than things that

1195
01:15:00,280 --> 01:15:03,479
Speaker 1: would challenge our existing view. And it makes me, yeah,

1196
01:15:03,479 --> 01:15:06,240
Speaker 1: it makes me think about the what is allowed to

1197
01:15:06,240 --> 01:15:08,720
Speaker 1: be talked about, or the views that are allowed to

1198
01:15:08,760 --> 01:15:12,960
Speaker 1: be held, at least from a social norm perspective, like

1199
01:15:13,000 --> 01:15:15,400
Speaker 1: what is allowed at what isn't allowed to be said

1200
01:15:15,439 --> 01:15:18,760
Speaker 1: and thought about just just by the other other people

1201
01:15:18,800 --> 01:15:22,679
Speaker 1: walking around by yourself. Even that's interesting and that changes

1202
01:15:23,200 --> 01:15:28,080
Speaker 1: country to country and sometimes culture to culture even right, Uh,

1203
01:15:28,080 --> 01:15:32,040
Speaker 1: that that's a that's a great question, iron Wing. Thank

1204
01:15:32,040 --> 01:15:40,439
Speaker 1: you for I think this concludes our gosh, but not

1205
01:15:40,600 --> 01:15:43,240
Speaker 1: our show. Never fear, Matt Noel and I will be

1206
01:15:43,320 --> 01:15:48,080
Speaker 1: returning the very next week with something that will be

1207
01:15:48,680 --> 01:15:52,320
Speaker 1: completely different, we can say, We can say that much.

1208
01:15:53,160 --> 01:15:57,519
Speaker 1: In the meantime, we hope you enjoyed our exploration of this,

1209
01:15:57,520 --> 01:16:02,360
Speaker 1: this very fascinating question. Money can be called a religion?

1210
01:16:03,160 --> 01:16:07,280
Speaker 1: Right in let us know your opinion of this and

1211
01:16:07,280 --> 01:16:10,320
Speaker 1: and let us know if there's something more to the

1212
01:16:10,360 --> 01:16:13,439
Speaker 1: equation that you believe your fellow listeners should consider. In

1213
01:16:13,479 --> 01:16:15,519
Speaker 1: the meantime, as we always say, you can check out

1214
01:16:15,520 --> 01:16:18,679
Speaker 1: every episode that Matt Nolan I have ever ever done

1215
01:16:18,800 --> 01:16:22,320
Speaker 1: on our website Deep Breath Stuff they Don't Want you

1216
01:16:22,360 --> 01:16:25,760
Speaker 1: to Know dot Com. If you prefer to visit via

1217
01:16:25,840 --> 01:16:30,120
Speaker 1: social media, you can find us on Instagram and you

1218
01:16:30,160 --> 01:16:34,160
Speaker 1: can find us on Twitter. That's correct. We are conspiracy

1219
01:16:34,280 --> 01:16:38,360
Speaker 1: Stuff show on Instagram and conspiracy stuff on Twitter and Facebook.

1220
01:16:38,520 --> 01:16:40,639
Speaker 1: All right, everybody, If you don't want to do any

1221
01:16:40,640 --> 01:16:43,040
Speaker 1: of that stuff, you're a little paranoid about, you know,

1222
01:16:43,080 --> 01:16:45,439
Speaker 1: where you write things publicly on the internet, because you

1223
01:16:45,479 --> 01:16:48,599
Speaker 1: should be. If you're not, send us an email. We

1224
01:16:48,680 --> 01:17:12,360
Speaker 1: are conspiracy at how stuff works dot com.