1 00:00:00,080 --> 00:00:02,080 Speaker 1: All right, welcome back. You are listening to the Mark 2 00:00:02,160 --> 00:00:04,960 Speaker 1: Mo Show. We're talking about the decentralized revolution each and 3 00:00:04,960 --> 00:00:06,560 Speaker 1: every week, of course, talking about the way the world 4 00:00:06,680 --> 00:00:08,799 Speaker 1: is changing, and we look at it through the lens 5 00:00:08,800 --> 00:00:12,880 Speaker 1: of politics, finance, and technology. Of course, the decentralized technologies 6 00:00:13,000 --> 00:00:14,760 Speaker 1: was changing the world. Of course, that is a bitcoin, 7 00:00:15,480 --> 00:00:18,799 Speaker 1: and we are witnessing all three of these things converging 8 00:00:18,800 --> 00:00:22,079 Speaker 1: and clashing. I say it with a smile on my face. 9 00:00:22,320 --> 00:00:25,919 Speaker 1: Uh not because I enjoy the pain that's being inflicted, 10 00:00:26,000 --> 00:00:27,800 Speaker 1: or the or the or the more pain that will 11 00:00:27,840 --> 00:00:31,400 Speaker 1: unfortunately come for most people. Um. I say it just 12 00:00:31,440 --> 00:00:34,080 Speaker 1: because it is interesting. We've been waiting for this to 13 00:00:34,080 --> 00:00:36,960 Speaker 1: happen for a long time. It's finally happening, and it 14 00:00:37,000 --> 00:00:38,760 Speaker 1: gives me a lot of stuff to talk about now. 15 00:00:38,800 --> 00:00:40,360 Speaker 1: Like I said, if you're not prepared, if you're on 16 00:00:40,400 --> 00:00:42,479 Speaker 1: the wrong side of this, it could be drastic for you. 17 00:00:42,520 --> 00:00:45,120 Speaker 1: But you still got time. You still got time. Now, 18 00:00:45,280 --> 00:00:47,360 Speaker 1: I like to say. I like to like to quote 19 00:00:47,560 --> 00:00:50,800 Speaker 1: Iron Rand. She says that you can choose to ignore reality, 20 00:00:51,040 --> 00:00:56,120 Speaker 1: but you can't ignore the consequences of reality. And so 21 00:00:57,040 --> 00:00:58,800 Speaker 1: I think about that, this is the reality. I like 22 00:00:58,840 --> 00:01:01,120 Speaker 1: to also say that we don't we don't invest in 23 00:01:01,160 --> 00:01:02,920 Speaker 1: the markets as we want them to be, as we 24 00:01:02,960 --> 00:01:05,280 Speaker 1: wish they would be, as we think they should be, 25 00:01:05,600 --> 00:01:07,360 Speaker 1: but rather as they are. So we want to pay 26 00:01:07,400 --> 00:01:11,679 Speaker 1: attention to this now as we're witnessing the world breakdown. Um, 27 00:01:11,800 --> 00:01:14,400 Speaker 1: we were just talking about in the previous segment. The 28 00:01:14,440 --> 00:01:17,360 Speaker 1: Bank of England, one of the largest central banks in 29 00:01:17,400 --> 00:01:21,399 Speaker 1: the developed world, is breaking right now. They've they've put 30 00:01:21,400 --> 00:01:24,440 Speaker 1: in some backstop measures that most likely won't work for 31 00:01:24,480 --> 00:01:26,840 Speaker 1: a very long period of time at least, And so 32 00:01:27,080 --> 00:01:30,679 Speaker 1: we're witnessing this happening now. As this is happening, Bitcoin 33 00:01:30,880 --> 00:01:33,800 Speaker 1: appears to be kind of holding up. And why is 34 00:01:33,840 --> 00:01:37,319 Speaker 1: that now? Um, we know that bitcoin was created in 35 00:01:37,319 --> 00:01:40,240 Speaker 1: two thousand eight at the two thou eight Great financial Crash. 36 00:01:40,319 --> 00:01:44,480 Speaker 1: We have not witnessed bitcoin go through a bear market. 37 00:01:44,520 --> 00:01:47,160 Speaker 1: It was really created at the bottom of the bear 38 00:01:47,280 --> 00:01:49,400 Speaker 1: market of the last cycle, and so we don't really 39 00:01:49,440 --> 00:01:51,240 Speaker 1: know what's going to happen. We don't have a historical 40 00:01:51,280 --> 00:01:53,600 Speaker 1: context where historical lens from them, but we do know 41 00:01:53,640 --> 00:01:55,480 Speaker 1: it was created physically for this. As a matter of fact, 42 00:01:55,520 --> 00:01:58,800 Speaker 1: the first line of code by Sotsian Akamoto said that 43 00:01:59,280 --> 00:02:01,040 Speaker 1: the Chancellor is on the brink of a second bill out. 44 00:02:01,040 --> 00:02:03,120 Speaker 1: So he was basically putting the message that banks are 45 00:02:03,120 --> 00:02:05,480 Speaker 1: gonna keep bailing themselves out. They're gonna keep printing more money. 46 00:02:05,480 --> 00:02:08,240 Speaker 1: As they continue to print more money, your money loses 47 00:02:08,320 --> 00:02:11,200 Speaker 1: its purchasing power, which of course is what inflation is. 48 00:02:11,880 --> 00:02:14,200 Speaker 1: And so um it was created for this, and here 49 00:02:14,240 --> 00:02:17,840 Speaker 1: we are witnessing it kind of I'd like to say, 50 00:02:17,880 --> 00:02:19,639 Speaker 1: coming to an end. But you know, we don't know 51 00:02:19,680 --> 00:02:22,200 Speaker 1: how many more tricks these central bankers have up their sleeves. 52 00:02:22,840 --> 00:02:25,560 Speaker 1: Um safety in uh A Moose. He wrote the book 53 00:02:25,560 --> 00:02:27,760 Speaker 1: The Bitcoin Standard, which I highly recommend. If you haven't 54 00:02:27,840 --> 00:02:31,520 Speaker 1: read that book, The Bitcoin Standard, you certainly should. I 55 00:02:31,560 --> 00:02:34,160 Speaker 1: love the book because it really goes through a full 56 00:02:34,280 --> 00:02:37,400 Speaker 1: history of what money is, all the different forms of money, 57 00:02:37,400 --> 00:02:39,200 Speaker 1: how are they used, why they're important. He goes through 58 00:02:39,200 --> 00:02:41,679 Speaker 1: the history of the gold standard, and then it goes 59 00:02:41,720 --> 00:02:44,160 Speaker 1: into a new, better way, which would be a Bitcoin standard. 60 00:02:44,200 --> 00:02:46,640 Speaker 1: And so a great book. It's a it's a big book, 61 00:02:46,880 --> 00:02:50,120 Speaker 1: highly worth reading. But he said that the only way 62 00:02:50,120 --> 00:02:54,359 Speaker 1: for Bitcoin to be defeated would be for central banks 63 00:02:54,400 --> 00:03:02,160 Speaker 1: to become fiscally responsible. So pain caused is um innovation 64 00:03:03,520 --> 00:03:07,160 Speaker 1: we typically only move when we're in enough pain. Now, 65 00:03:07,240 --> 00:03:10,160 Speaker 1: I believe in chiropractic. I've been going to chiropractors most 66 00:03:10,160 --> 00:03:12,800 Speaker 1: of my life. I believe in it. I understand that 67 00:03:12,880 --> 00:03:16,040 Speaker 1: your you know your spine, all your nerves your body 68 00:03:16,160 --> 00:03:17,600 Speaker 1: come to your spine, and you want to keep your 69 00:03:17,600 --> 00:03:19,600 Speaker 1: spine in perfectly alignment to keep your body and harmony. 70 00:03:19,639 --> 00:03:22,160 Speaker 1: I believe in it. But as much as I believe 71 00:03:22,160 --> 00:03:24,760 Speaker 1: in it, I typically only go when I'm in pain, right, 72 00:03:24,800 --> 00:03:27,519 Speaker 1: And the more pain I'm in, the more motivated UM 73 00:03:27,520 --> 00:03:29,600 Speaker 1: to go. And so that's just unfortunately how we are 74 00:03:29,880 --> 00:03:32,000 Speaker 1: as humans. We need some sort of a pain, typically 75 00:03:32,800 --> 00:03:35,560 Speaker 1: greater greater pain, so we'll be motivated by greed, but 76 00:03:35,640 --> 00:03:39,640 Speaker 1: but usually pain. So UM solutions start coming to problems. 77 00:03:39,920 --> 00:03:42,840 Speaker 1: When we have problems, we start looking for solutions to 78 00:03:42,880 --> 00:03:45,720 Speaker 1: those problems. Now, we have a problem with what we 79 00:03:45,840 --> 00:03:49,640 Speaker 1: use as money today because the central bankers continually manipulate 80 00:03:49,720 --> 00:03:54,760 Speaker 1: it and continually cause boom and bust cycles. And that's 81 00:03:54,800 --> 00:03:57,360 Speaker 1: probably one thing we can just count on. We can 82 00:03:57,440 --> 00:04:02,800 Speaker 1: count on humans controlling money will always manipulate it. We 83 00:04:02,800 --> 00:04:05,640 Speaker 1: can just count on that. It's human nature. And so 84 00:04:06,080 --> 00:04:08,920 Speaker 1: the only way that so that's a problem. It's a 85 00:04:08,960 --> 00:04:11,040 Speaker 1: massive problem. Now, if you're in you know, if you're 86 00:04:11,040 --> 00:04:12,960 Speaker 1: in the United States and you go to the bar tonight, 87 00:04:13,000 --> 00:04:14,960 Speaker 1: you're gonna have a fifteen dollar cocktail. It's not really 88 00:04:14,960 --> 00:04:17,880 Speaker 1: bothering that much. But if you're about four billion people 89 00:04:17,920 --> 00:04:21,800 Speaker 1: in the world today living under double and triple digit inflation, 90 00:04:22,040 --> 00:04:25,720 Speaker 1: it's a big, big deally. It's ruining your life. We're 91 00:04:25,720 --> 00:04:28,600 Speaker 1: gonna talk about that in a minute. And so you 92 00:04:28,640 --> 00:04:30,680 Speaker 1: need a solution for this. Now, there's some solutions that 93 00:04:30,680 --> 00:04:33,160 Speaker 1: are available, and that's why we're seeing it in these 94 00:04:33,520 --> 00:04:35,640 Speaker 1: other areas of the world. First. But again back to 95 00:04:35,720 --> 00:04:38,600 Speaker 1: the quote by Safety and Um. The only way for 96 00:04:38,640 --> 00:04:40,440 Speaker 1: bitcoin to be defeated is if central bank has become 97 00:04:40,440 --> 00:04:43,880 Speaker 1: fiscally responsible, which we don't count on happening because of 98 00:04:43,960 --> 00:04:47,560 Speaker 1: human nature. Now, since the bank in Linton has been breaking, 99 00:04:47,600 --> 00:04:50,120 Speaker 1: they've they've agreed to bail out their financial stem belt, 100 00:04:50,120 --> 00:04:55,560 Speaker 1: the pension funds. We've seen bitcoin go up meanwhile everything 101 00:04:55,600 --> 00:04:59,680 Speaker 1: else is going down. It's pretty interesting. Now. One of 102 00:04:59,720 --> 00:05:02,800 Speaker 1: them most famous, maybe one of the boat most successful 103 00:05:02,880 --> 00:05:06,840 Speaker 1: investors in the world today is Stanley druck and Miller Um. 104 00:05:06,839 --> 00:05:10,520 Speaker 1: He actually worked under George Soros and helped organize the 105 00:05:10,560 --> 00:05:12,440 Speaker 1: trade where they broke the Bank of England in a 106 00:05:12,520 --> 00:05:16,800 Speaker 1: single day made a billion dollars. He's uh. His the 107 00:05:16,839 --> 00:05:20,479 Speaker 1: way that he invests has really always been following the 108 00:05:20,520 --> 00:05:23,920 Speaker 1: liquidity of the system. So he's watching central bank um 109 00:05:24,040 --> 00:05:26,200 Speaker 1: policy and when they increase the money supplier, when they 110 00:05:26,200 --> 00:05:28,800 Speaker 1: decrease the money supply, um, he knows what to do 111 00:05:28,839 --> 00:05:32,320 Speaker 1: with his money now. He came out a few years 112 00:05:32,360 --> 00:05:34,200 Speaker 1: ago and said he's a fan of bitcoin. As a 113 00:05:34,200 --> 00:05:36,880 Speaker 1: matter of fact, he's buying bitcoin. The most successful investors, 114 00:05:36,880 --> 00:05:38,920 Speaker 1: one of the most successful investors in the world studying 115 00:05:39,000 --> 00:05:42,279 Speaker 1: under George Soros. He said that he's buying bitcoin because 116 00:05:42,279 --> 00:05:46,679 Speaker 1: he understands because he studies right, his whole investing strategy 117 00:05:46,720 --> 00:05:48,960 Speaker 1: has been following what central banks do. He understands what 118 00:05:48,960 --> 00:05:52,080 Speaker 1: they're doing, and he understands there's a need for something 119 00:05:52,240 --> 00:05:55,720 Speaker 1: like bitcoin. He came out this week and he said 120 00:05:55,760 --> 00:05:59,600 Speaker 1: that he thinks that crypto could enjoy a quote unquote 121 00:05:59,640 --> 00:06:04,400 Speaker 1: rent assans as trust in banks fades, is what he said. 122 00:06:04,880 --> 00:06:09,040 Speaker 1: He said, uh, he said, as the global economy extends 123 00:06:09,240 --> 00:06:12,279 Speaker 1: its suffering, is what he said. So he hinted at 124 00:06:12,320 --> 00:06:15,599 Speaker 1: a renaissance FIRSUS the crypto space. If public trust fades 125 00:06:16,160 --> 00:06:19,279 Speaker 1: in central banks, well is it fading, Well, they've clearly 126 00:06:19,320 --> 00:06:22,240 Speaker 1: lost control. The Federals over the United States has two mandates, 127 00:06:22,880 --> 00:06:27,880 Speaker 1: full employment and stable prices. Were certainly nowhere near stable prices. 128 00:06:28,080 --> 00:06:30,919 Speaker 1: We haven't had anything remotely close to stable prices for 129 00:06:30,960 --> 00:06:33,479 Speaker 1: at least the last couple of years. So they're they're 130 00:06:33,480 --> 00:06:37,240 Speaker 1: obviously failing at that. They're trying to regain credibility. This 131 00:06:37,320 --> 00:06:40,000 Speaker 1: is their words. Um. Jerome Palace said they were going 132 00:06:40,040 --> 00:06:43,880 Speaker 1: to keep at it until it is done. So they're 133 00:06:43,880 --> 00:06:46,440 Speaker 1: gonna keep at whatever they're doing to which is raising 134 00:06:46,520 --> 00:06:50,599 Speaker 1: rates um to regain credibility. They want to show the 135 00:06:50,640 --> 00:06:52,600 Speaker 1: world that they have control of the money system, but 136 00:06:52,600 --> 00:06:55,400 Speaker 1: they don't. Nobody believes it. And on top of it, 137 00:06:55,480 --> 00:06:57,640 Speaker 1: we're witnessing them failing left and right now. The Central 138 00:06:57,640 --> 00:06:59,839 Speaker 1: Bank of the United States FED would probably the last 139 00:06:59,880 --> 00:07:02,480 Speaker 1: one and standing, in my opinion, We're watching the smaller 140 00:07:02,480 --> 00:07:06,160 Speaker 1: ones go bust left and right. They're all scrambling right now. 141 00:07:06,160 --> 00:07:08,160 Speaker 1: So public trust is fading. So he said there will 142 00:07:08,160 --> 00:07:11,400 Speaker 1: be a renaissance if public trust fades. What's happening. He 143 00:07:11,400 --> 00:07:13,480 Speaker 1: said that rate hikes from the FED and worse in 144 00:07:13,600 --> 00:07:18,200 Speaker 1: macroeconomic conditions have proven brutal to the industry. Yes, of course. 145 00:07:18,240 --> 00:07:21,400 Speaker 1: So what we've seen is that because they've been raising raith, 146 00:07:21,600 --> 00:07:24,640 Speaker 1: we've seen risk on assets. These are like tech stocks, 147 00:07:24,800 --> 00:07:28,000 Speaker 1: these are cryptocurrencies. They've had a massive sell off. There's 148 00:07:28,000 --> 00:07:31,480 Speaker 1: no denying that Bitcoin is down almost it's a big 149 00:07:31,560 --> 00:07:34,320 Speaker 1: draw down, but that's because Bitcoin is being traded like 150 00:07:34,360 --> 00:07:37,400 Speaker 1: a risk on asset. But Stanley Ducker Miller thinks that 151 00:07:37,480 --> 00:07:41,120 Speaker 1: it could see a revival as this macro situation worsens 152 00:07:41,160 --> 00:07:43,920 Speaker 1: and it could actually shift from being a risk on 153 00:07:44,040 --> 00:07:46,600 Speaker 1: asset to a risk off asset. And he's not the 154 00:07:46,680 --> 00:07:49,320 Speaker 1: only one. As a matter of fact, Bloomberg Intelligence put 155 00:07:49,320 --> 00:07:52,440 Speaker 1: out a report saying that they believe that by the 156 00:07:52,520 --> 00:07:56,840 Speaker 1: end of two Bitcoin will transform from a risk on 157 00:07:57,000 --> 00:08:00,920 Speaker 1: asset to a risk off asset. What does that mean? 158 00:08:01,720 --> 00:08:04,360 Speaker 1: Risk on is things that you buy when you're okay 159 00:08:04,400 --> 00:08:07,840 Speaker 1: taking the risk. When there's tons of central bank liquidity 160 00:08:07,840 --> 00:08:10,520 Speaker 1: going into the system, everything is gonna go higher that 161 00:08:10,560 --> 00:08:12,680 Speaker 1: I'm gonna go into the riskiest things because I'll get 162 00:08:12,720 --> 00:08:14,480 Speaker 1: the best return. So these are the tech stocks that 163 00:08:14,560 --> 00:08:16,320 Speaker 1: don't make any money or you know, don't make any 164 00:08:16,320 --> 00:08:20,880 Speaker 1: profits cryptocurrencies, et CETERA. Risk off is when UH markets 165 00:08:20,880 --> 00:08:23,080 Speaker 1: are crashing, I don't want to take any risk anymore. 166 00:08:23,120 --> 00:08:25,280 Speaker 1: I better move my money into very safe things. So 167 00:08:25,280 --> 00:08:28,240 Speaker 1: these are typically government bonds. Um, these are gold, things 168 00:08:28,240 --> 00:08:32,400 Speaker 1: like that. Those are risk off. So they think that bitcoin. 169 00:08:32,480 --> 00:08:34,720 Speaker 1: Bloomberger Intelligence thinks that bitcoin will move from a risk 170 00:08:34,760 --> 00:08:38,160 Speaker 1: on to a risk off because of what's happening. And 171 00:08:38,240 --> 00:08:40,480 Speaker 1: Druckton Miller is saying the same thing. He says that 172 00:08:40,520 --> 00:08:42,640 Speaker 1: he thinks the U. S economy could suffer from a 173 00:08:42,720 --> 00:08:46,959 Speaker 1: quote hard landing in the medium term future. What's the 174 00:08:47,040 --> 00:08:50,400 Speaker 1: medium term probably the next six months. He didn't say that, 175 00:08:50,440 --> 00:08:53,160 Speaker 1: I said that, adding that he would be stunned if 176 00:08:53,200 --> 00:08:56,280 Speaker 1: we don't have a recession. Ine that's what he says. 177 00:08:56,559 --> 00:08:59,040 Speaker 1: So he thinks that we're gonna have a hard landing. 178 00:08:59,200 --> 00:09:02,520 Speaker 1: Hard landing means a big crash, and he'd be stunned 179 00:09:02,559 --> 00:09:06,679 Speaker 1: if it doesn't happen. In UM, just taking a break 180 00:09:06,720 --> 00:09:08,640 Speaker 1: for a second. You're listening to the Mark Moshow. If 181 00:09:08,679 --> 00:09:11,840 Speaker 1: you're just tuning in, we're talking about the decentralized revolution, 182 00:09:11,840 --> 00:09:13,600 Speaker 1: the way the world is changing when we look at 183 00:09:13,640 --> 00:09:16,080 Speaker 1: it through politics, finance, and technology. Of course, the technology 184 00:09:16,120 --> 00:09:18,480 Speaker 1: being bitcoin, which we're talking about right now. I'm talking 185 00:09:18,520 --> 00:09:21,880 Speaker 1: about what one of the greatest investors alive today had 186 00:09:21,920 --> 00:09:24,160 Speaker 1: to say this week about what's coming next. You don't 187 00:09:24,200 --> 00:09:25,880 Speaker 1: want to miss what you have to say and more specifically, 188 00:09:25,920 --> 00:09:27,280 Speaker 1: what you should be doing about it. I'll be right back. 189 00:09:27,400 --> 00:09:30,000 Speaker 1: Don't go away, all right, welcome back. You are listening 190 00:09:30,040 --> 00:09:33,400 Speaker 1: to the Mark ma Show. We're talking about the decentralized revolution, 191 00:09:33,440 --> 00:09:37,439 Speaker 1: talking about the world changing. The financial system is crashing. 192 00:09:37,840 --> 00:09:40,480 Speaker 1: We look at the politics, the finance, and the technology piece. 193 00:09:40,760 --> 00:09:44,720 Speaker 1: The financial system is crashing. The political leaders are trying 194 00:09:44,760 --> 00:09:48,440 Speaker 1: to angle a maneuver to hang onto it. And then 195 00:09:48,480 --> 00:09:50,480 Speaker 1: of course the financial system is being destroyed and a 196 00:09:50,520 --> 00:09:53,280 Speaker 1: new one is being created. So Stanley Dreco Miller, one 197 00:09:53,280 --> 00:09:55,240 Speaker 1: of the greatest investors in the world today, says that 198 00:09:55,520 --> 00:09:57,319 Speaker 1: he thinks that we're gonna the US is going to 199 00:09:57,400 --> 00:10:00,320 Speaker 1: have a hard landing in the medium turn. He said 200 00:10:00,440 --> 00:10:02,679 Speaker 1: he will be son of it at him by next year. Um. 201 00:10:02,679 --> 00:10:05,840 Speaker 1: He said the US was in quote deep trouble, and 202 00:10:05,880 --> 00:10:09,400 Speaker 1: he shared an ominous warning that said quote something really 203 00:10:09,800 --> 00:10:13,880 Speaker 1: bad could happen. His words, something really bad could happen. 204 00:10:14,200 --> 00:10:16,440 Speaker 1: Do the worst thing state of the economy. Now, like 205 00:10:16,480 --> 00:10:18,959 Speaker 1: I said, this guy has an amazing track record in 206 00:10:19,000 --> 00:10:22,600 Speaker 1: playing market cycles, and he he hinted. He said that 207 00:10:22,640 --> 00:10:27,160 Speaker 1: there's actually probably a silver lining for bitcoin again, he said, 208 00:10:27,200 --> 00:10:30,280 Speaker 1: there's a renaissance if people start to lose trust in 209 00:10:30,400 --> 00:10:34,960 Speaker 1: central banks. What we're seeing is that if you have 210 00:10:35,040 --> 00:10:38,800 Speaker 1: your money in the banks, it could disappear. Now again, 211 00:10:39,200 --> 00:10:41,520 Speaker 1: it works in the places where the pain is the highest. 212 00:10:41,520 --> 00:10:44,000 Speaker 1: Now in the United States the pain is the lowest. 213 00:10:44,400 --> 00:10:47,360 Speaker 1: It's the lowest and most likely the pain will come 214 00:10:47,400 --> 00:10:51,000 Speaker 1: to us in the United States last. But do you 215 00:10:51,040 --> 00:10:53,160 Speaker 1: want to make the mistake and lose everything or would 216 00:10:53,200 --> 00:10:55,760 Speaker 1: you rather learn from other people's mistakes so you don't 217 00:10:55,800 --> 00:10:57,920 Speaker 1: have to know. I would prefer to learn from other 218 00:10:57,920 --> 00:11:00,800 Speaker 1: people's mistakes, which I try and do. So what mistakes 219 00:11:00,800 --> 00:11:05,480 Speaker 1: are we seeing? Well, in Lebanon, people are literally breaking 220 00:11:05,559 --> 00:11:08,960 Speaker 1: into the banks. They're literally doing bank heist to get 221 00:11:09,000 --> 00:11:12,920 Speaker 1: their own money out because they can't get it in 222 00:11:12,960 --> 00:11:15,800 Speaker 1: the UK. We're not talking about Lebanon. We're talking about 223 00:11:15,800 --> 00:11:19,840 Speaker 1: in the UK the bond investors, the pensions, the retirees 224 00:11:20,360 --> 00:11:22,240 Speaker 1: just potentially lost all their money. But the central bank 225 00:11:22,320 --> 00:11:24,200 Speaker 1: just bill didn't stepped in to bail them out. How 226 00:11:24,240 --> 00:11:26,480 Speaker 1: long can they keep doing that? For? Answer is not 227 00:11:26,559 --> 00:11:29,920 Speaker 1: very long. But this can't happen here, Mark, no way. 228 00:11:29,960 --> 00:11:32,760 Speaker 1: We're the United States. Sure, we're the United States reserve 229 00:11:32,800 --> 00:11:34,800 Speaker 1: currency of the world. With the FDIC insurance right back 230 00:11:34,840 --> 00:11:38,960 Speaker 1: up those bank statements. It will it, certainly will, I believe. 231 00:11:39,280 --> 00:11:42,720 Speaker 1: Uh No, there's a chance it won't. FDC insurance doesn't 232 00:11:42,760 --> 00:11:44,600 Speaker 1: have enough insurance to cover the bank deposits. It would 233 00:11:44,600 --> 00:11:47,040 Speaker 1: take a Congress to act and give them the amount 234 00:11:47,040 --> 00:11:49,160 Speaker 1: of money they would need. And even if even if 235 00:11:49,160 --> 00:11:51,920 Speaker 1: Congress did do that, they'd have to go print eighty 236 00:11:51,960 --> 00:11:55,280 Speaker 1: trillion dollars. But what would happen if they did that, Well, 237 00:11:55,280 --> 00:11:58,560 Speaker 1: that would devalue the currency massively. So even if they 238 00:11:58,600 --> 00:12:00,880 Speaker 1: did give you your dollars back, they would only buy 239 00:12:00,920 --> 00:12:03,319 Speaker 1: you a fraction of what they would buy today. So 240 00:12:03,600 --> 00:12:05,520 Speaker 1: it makes sense I might want to have some assets 241 00:12:05,520 --> 00:12:08,920 Speaker 1: that are outside this system, And that's exactly what he's 242 00:12:08,920 --> 00:12:11,880 Speaker 1: talking about. Druckor Miller's argument is that the asset class 243 00:12:11,920 --> 00:12:15,000 Speaker 1: could see a bounce not because of the FED flipping 244 00:12:15,040 --> 00:12:17,640 Speaker 1: from hawks to dothers. So right now the FED is hawkish, right, 245 00:12:17,840 --> 00:12:21,680 Speaker 1: They're they're gonna crush inflation. We're gonna crush demand. They're 246 00:12:21,760 --> 00:12:25,240 Speaker 1: very hawkish, they're very harsh, moving to devilish means. They're 247 00:12:25,360 --> 00:12:28,839 Speaker 1: they're light, they're friendly. They're gonna now ease system. They're 248 00:12:28,840 --> 00:12:31,080 Speaker 1: gonna pump money back in. So he said, he said 249 00:12:31,080 --> 00:12:33,120 Speaker 1: that we could see the act class bounce, not because 250 00:12:33,160 --> 00:12:36,520 Speaker 1: the FED flipping from hawks to dovish, but because people 251 00:12:36,559 --> 00:12:40,040 Speaker 1: may lose trust and central banks like the FED altogether. 252 00:12:40,120 --> 00:12:44,200 Speaker 1: And I think that's exactly what's happening now. Um, there's 253 00:12:44,280 --> 00:12:48,280 Speaker 1: other bullish tell winds behind bitcoin as well as a 254 00:12:48,320 --> 00:12:54,320 Speaker 1: matter of fact, Um, the CFTC chairman Benroom said this 255 00:12:54,400 --> 00:12:59,920 Speaker 1: week that he thinks the quote bitcoin price could dub 256 00:13:00,960 --> 00:13:08,120 Speaker 1: mm hmm CFTC. CFTC chairman. What did he say exactly? Now, 257 00:13:08,160 --> 00:13:09,760 Speaker 1: if you're not if you know what the CFTC is, 258 00:13:09,840 --> 00:13:14,320 Speaker 1: it's the Commodities Futures Trading Commission. It's the regulatory body 259 00:13:14,400 --> 00:13:17,600 Speaker 1: in the United States that regulates commodities. Commodities are typically 260 00:13:17,679 --> 00:13:21,440 Speaker 1: real things. These are wheat, it's oil, it's gas, it's uranium, 261 00:13:21,920 --> 00:13:28,360 Speaker 1: um silver, right, that's commodities. Securities are equities. Securities are 262 00:13:28,400 --> 00:13:31,720 Speaker 1: Tesla stock or Apple stock or Microsoft Stock, so securities 263 00:13:31,880 --> 00:13:35,440 Speaker 1: and commodities. The commodities are. The CFTC is the regulatory 264 00:13:35,440 --> 00:13:39,520 Speaker 1: body the United States, and they are. Well, bitcoin has 265 00:13:39,559 --> 00:13:42,640 Speaker 1: been kind of up for debate. They've been squabbling over 266 00:13:42,720 --> 00:13:44,640 Speaker 1: who's going to control bitcoin. A lot of people say, well, 267 00:13:44,640 --> 00:13:46,599 Speaker 1: wait till the government regulates it. Well, I'm like the 268 00:13:46,679 --> 00:13:49,880 Speaker 1: government already regulates as a matter of fact, the CFTC 269 00:13:49,960 --> 00:13:52,120 Speaker 1: already regulates it as a matter of fact, the SEC 270 00:13:52,280 --> 00:13:54,640 Speaker 1: regulates it, the I r S regulates it, Fence and 271 00:13:54,760 --> 00:13:57,000 Speaker 1: regulates it, and on and on and on. But the 272 00:13:57,080 --> 00:14:00,120 Speaker 1: CFTC and the SEC have been fighting over who is 273 00:14:00,160 --> 00:14:03,160 Speaker 1: going to be the regulator of the crypto industry. And 274 00:14:03,280 --> 00:14:05,440 Speaker 1: basically where we're at today. Gary Ginsler, who's the head 275 00:14:05,480 --> 00:14:09,120 Speaker 1: of the SEC, has basically come out and said he 276 00:14:09,200 --> 00:14:11,240 Speaker 1: hasn't written it down in black and white on paper, 277 00:14:11,280 --> 00:14:14,040 Speaker 1: but he's basically said it verbally that anything other than 278 00:14:14,120 --> 00:14:18,240 Speaker 1: bitcoin is a security. And they had originally kind of 279 00:14:18,280 --> 00:14:21,720 Speaker 1: said maybe ethereum is not a security, but now that 280 00:14:21,760 --> 00:14:24,240 Speaker 1: ethereum just went through this merge, he says that now 281 00:14:24,320 --> 00:14:27,080 Speaker 1: it's probably a security. So don't get mad at me, 282 00:14:27,200 --> 00:14:29,280 Speaker 1: don't shoot the messenger. That's Gary Ginsler, head the SEC, 283 00:14:29,400 --> 00:14:32,280 Speaker 1: said that, so it looks like bitcoin might be the 284 00:14:32,440 --> 00:14:35,800 Speaker 1: only one that is actually a commodity, and is it 285 00:14:35,960 --> 00:14:40,720 Speaker 1: is regulated by the CFTC. CFTC so the chairman, Roston 286 00:14:40,800 --> 00:14:45,480 Speaker 1: Benram said this week on Wednesday, he said, quote growth 287 00:14:45,840 --> 00:14:51,720 Speaker 1: might occur if we have a well regulated space. Um. 288 00:14:52,480 --> 00:14:54,680 Speaker 1: He told there was a fireside chat at New York 289 00:14:54,960 --> 00:14:59,520 Speaker 1: University School of Law. He said, quote bitcoin might double 290 00:14:59,680 --> 00:15:04,480 Speaker 1: in price if there's a CFTC regulated market. End quote. 291 00:15:05,080 --> 00:15:07,720 Speaker 1: So he's saying that, look, if we could just get 292 00:15:07,760 --> 00:15:09,400 Speaker 1: some clarity here, right, If we get this, get the 293 00:15:09,520 --> 00:15:11,960 Speaker 1: SEC out of the way, let's clearly find everything else security, 294 00:15:12,080 --> 00:15:15,040 Speaker 1: let's make bitcoin commodity. Will take it over. Um. If 295 00:15:15,200 --> 00:15:17,040 Speaker 1: and if we can give it a regulated market, we 296 00:15:17,120 --> 00:15:20,280 Speaker 1: think the price of bitcoin could double. Well, I think 297 00:15:20,280 --> 00:15:22,120 Speaker 1: bitcoin could do way more than double. But that's that's 298 00:15:22,200 --> 00:15:25,680 Speaker 1: his words. Um. He went on to say, So there's 299 00:15:25,680 --> 00:15:28,200 Speaker 1: a bill, so by Bartisan bill introduced by the leaders 300 00:15:28,280 --> 00:15:32,600 Speaker 1: the Senate Agriculture Committee, which oversees the CFTC, would crown 301 00:15:32,640 --> 00:15:35,880 Speaker 1: the CFTC the primary regulator for the crypto industry, expanding 302 00:15:35,920 --> 00:15:39,600 Speaker 1: the agency's authority to oversee crypto spot markets and require 303 00:15:39,640 --> 00:15:44,160 Speaker 1: crypto trading firms to register with the CFTC. So there's 304 00:15:44,200 --> 00:15:46,240 Speaker 1: this new bill. They're hoping that it goes through. If 305 00:15:46,280 --> 00:15:48,520 Speaker 1: it goes through, it gives them clarity. If it gives 306 00:15:48,560 --> 00:15:51,440 Speaker 1: them clarity, then they'll have the ability to oversee the regulations, 307 00:15:51,760 --> 00:15:53,680 Speaker 1: which again back to his words saying that if we 308 00:15:53,720 --> 00:15:56,080 Speaker 1: get clear regulations, then we think the price of bitcoin 309 00:15:56,120 --> 00:16:00,760 Speaker 1: could double. Um. Now, look, I'm just gonna say a disclaimer. 310 00:16:01,440 --> 00:16:03,960 Speaker 1: I'm not for any of this. Um. I believe that 311 00:16:05,320 --> 00:16:08,040 Speaker 1: I live in America. I was born in a free country, 312 00:16:08,520 --> 00:16:12,480 Speaker 1: land of the free right. Um, we don't ask for 313 00:16:12,680 --> 00:16:16,360 Speaker 1: permission in the United States. Everything is free because we 314 00:16:16,440 --> 00:16:18,440 Speaker 1: live in a free country. Now, they make laws making 315 00:16:18,520 --> 00:16:22,400 Speaker 1: things illegal. So if there's a law specifically saying that 316 00:16:22,520 --> 00:16:24,560 Speaker 1: something is illegal, then it's illegal. Right. So I'm not 317 00:16:24,600 --> 00:16:26,480 Speaker 1: saying that we should go break the law. The laws 318 00:16:26,480 --> 00:16:28,280 Speaker 1: are there. We have to honor those laws or we 319 00:16:28,600 --> 00:16:30,920 Speaker 1: pay the pay the consequence for those The point that 320 00:16:31,000 --> 00:16:34,040 Speaker 1: I'm making is that we don't ask for permission to 321 00:16:34,160 --> 00:16:36,000 Speaker 1: do things. If there's a law, then we know there's 322 00:16:36,000 --> 00:16:37,680 Speaker 1: a law. If there's not a law, then it's free. 323 00:16:37,840 --> 00:16:40,720 Speaker 1: We're free to do that. So my father went to 324 00:16:40,800 --> 00:16:42,720 Speaker 1: war force, my grandfather went to war force. All our 325 00:16:42,760 --> 00:16:46,520 Speaker 1: forefathers went to war for So for them to say that, 326 00:16:46,880 --> 00:16:48,560 Speaker 1: you know, things were probably better if we made some 327 00:16:49,200 --> 00:16:51,800 Speaker 1: regulations around it, I just have a hard time believing that. 328 00:16:52,160 --> 00:16:56,160 Speaker 1: I don't support that. Um. Now, the problem is, I 329 00:16:56,200 --> 00:16:58,680 Speaker 1: guess some of these you know, Wall Street firms, UM, 330 00:16:58,880 --> 00:17:02,800 Speaker 1: they're afraid to act because they're afraid if they do 331 00:17:02,960 --> 00:17:05,960 Speaker 1: something that then later one of these regulatory bodies could 332 00:17:05,960 --> 00:17:08,800 Speaker 1: come and change their laws retroactively and they could you know, 333 00:17:08,920 --> 00:17:10,600 Speaker 1: get in trouble and have to pay fines or whatever, 334 00:17:10,840 --> 00:17:12,960 Speaker 1: which is a problem. That's pretty stupid that you could 335 00:17:12,960 --> 00:17:16,359 Speaker 1: have a regulatory body coming and make laws that aren't 336 00:17:16,400 --> 00:17:20,280 Speaker 1: there and then retroactively put them in place. Kind of 337 00:17:20,359 --> 00:17:22,879 Speaker 1: highlights how screwed up this whole system that we have here. 338 00:17:22,920 --> 00:17:24,280 Speaker 1: Now I get it, like I said, if there's laws, 339 00:17:24,359 --> 00:17:26,000 Speaker 1: you got you gotta respect those laws. But if there's 340 00:17:26,040 --> 00:17:28,320 Speaker 1: no laws, then we should be free to do that. 341 00:17:29,119 --> 00:17:31,080 Speaker 1: So the fact that we need a we need a 342 00:17:31,200 --> 00:17:34,400 Speaker 1: new regulation to give clarity so that it allows people 343 00:17:34,440 --> 00:17:35,800 Speaker 1: to make a move that they could then push the 344 00:17:35,840 --> 00:17:38,360 Speaker 1: price higher. It's pretty messed up. But that's the world 345 00:17:38,400 --> 00:17:41,760 Speaker 1: that we live in. It's his words, not mine. Stanley 346 00:17:41,800 --> 00:17:43,560 Speaker 1: Dructor Miller thinks the price could go up by central 347 00:17:43,560 --> 00:17:47,359 Speaker 1: banks lose credibility, which they are. CFTC says, if this 348 00:17:47,400 --> 00:17:49,080 Speaker 1: bill goes through and gives clarity, we could see the 349 00:17:49,119 --> 00:17:52,320 Speaker 1: price of bitcoin double. Bloomberg Intelligence says that bitcoin can 350 00:17:52,359 --> 00:17:54,919 Speaker 1: move from risk onto risk off asset. Are you starting 351 00:17:55,280 --> 00:17:56,960 Speaker 1: to see the light of the end of the tunnel. 352 00:17:57,080 --> 00:17:58,879 Speaker 1: You listen to the Markmas Show. We're talking about their 353 00:17:58,920 --> 00:18:00,920 Speaker 1: decentralized Revolution. I'll be back with that and more in 354 00:18:01,000 --> 00:18:03,000 Speaker 1: a minute. Do not go away, I'll be right back. 355 00:18:03,560 --> 00:18:05,640 Speaker 1: All right, welcome back. You are listening to the Mark 356 00:18:05,760 --> 00:18:09,400 Speaker 1: Ma Show. We're talking about the decentralized Revolution, talking about 357 00:18:09,400 --> 00:18:13,280 Speaker 1: the way the world is changing rapidly. You know, I 358 00:18:13,359 --> 00:18:17,000 Speaker 1: think about I say it all the time. It's putin quote. 359 00:18:17,040 --> 00:18:19,639 Speaker 1: I'm sorry, I'm not putin the other Vladimir Ladmir lenin 360 00:18:20,240 --> 00:18:23,040 Speaker 1: that there's day there's decades where nothing seems to happen. 361 00:18:23,040 --> 00:18:25,200 Speaker 1: In there's days where decades seemed to happen. And that's 362 00:18:25,240 --> 00:18:26,840 Speaker 1: kind of where we're at right now. The world is 363 00:18:27,400 --> 00:18:33,639 Speaker 1: literally burning down, crumbling down all around us. Maybe you 364 00:18:33,680 --> 00:18:37,159 Speaker 1: don't notice, you know, Um, I just got back. I 365 00:18:37,320 --> 00:18:40,879 Speaker 1: was in Mexico for about six days. I went and 366 00:18:40,960 --> 00:18:45,080 Speaker 1: spoke at a conference down to Mexico City called Nomad Capitalists. 367 00:18:45,119 --> 00:18:47,919 Speaker 1: About five people there at the conference, and they were 368 00:18:48,000 --> 00:18:53,240 Speaker 1: all there to learn about UM international diversification, we'll call 369 00:18:53,320 --> 00:18:56,760 Speaker 1: it that. So these five people went to Mexico City 370 00:18:56,800 --> 00:18:59,760 Speaker 1: to attendis conference which I was a speaker there, UM 371 00:19:00,280 --> 00:19:03,640 Speaker 1: to learn about international diversification. What does that mean? Well, 372 00:19:03,840 --> 00:19:06,080 Speaker 1: what what what does diversification? So that means instead of 373 00:19:06,119 --> 00:19:09,320 Speaker 1: putting all your money into one stock, that would be 374 00:19:09,359 --> 00:19:13,080 Speaker 1: pretty foolish, you would diversify. So instead of putting all 375 00:19:13,080 --> 00:19:14,880 Speaker 1: in one stock, I just spread my money around. I'd 376 00:19:15,080 --> 00:19:16,639 Speaker 1: put a little bit into real estate, a little bit 377 00:19:16,640 --> 00:19:18,600 Speaker 1: into gold, a little bit in stocks, a little bit 378 00:19:18,600 --> 00:19:20,800 Speaker 1: in the bitcoin. And not just one stock, I'd put 379 00:19:20,840 --> 00:19:24,000 Speaker 1: into multiple stocks in multiple sectors. Right, So that's diversification. 380 00:19:24,680 --> 00:19:27,320 Speaker 1: So international diversiication is kind of the same thing, which 381 00:19:27,400 --> 00:19:29,560 Speaker 1: is like I wouldn't put all my light, my own 382 00:19:29,680 --> 00:19:31,560 Speaker 1: my money in one stock. Why would have my whole 383 00:19:31,720 --> 00:19:34,520 Speaker 1: life in one country. Now, again, if you're in the 384 00:19:34,560 --> 00:19:37,159 Speaker 1: United States, maybe you don't see this. If you're in 385 00:19:37,200 --> 00:19:39,439 Speaker 1: another country, you probably see the need for this more 386 00:19:39,480 --> 00:19:42,800 Speaker 1: and more. Remember, we move off of pain, and so 387 00:19:42,920 --> 00:19:46,320 Speaker 1: these people came uh to learn about this international diversification. 388 00:19:46,440 --> 00:19:48,280 Speaker 1: We're learning about all these problems, all these laws, all 389 00:19:48,280 --> 00:19:50,080 Speaker 1: these things, all these financial situations that are going on, 390 00:19:50,240 --> 00:19:53,600 Speaker 1: why you might want to diversify internationally. That means, you know, 391 00:19:53,720 --> 00:19:58,320 Speaker 1: getting different residencies, different passports, setting up different corporations in 392 00:19:58,359 --> 00:20:02,360 Speaker 1: other countries, buying parties are invested into other countries, things 393 00:20:02,400 --> 00:20:05,320 Speaker 1: like that. And so these these five people were pretty 394 00:20:05,320 --> 00:20:07,840 Speaker 1: tuned into what's going on. Obviously, they're paying attention and 395 00:20:07,920 --> 00:20:09,800 Speaker 1: that's why they're there. They see the signs and they 396 00:20:09,880 --> 00:20:14,200 Speaker 1: realize they should probably start making plans for this. But then, 397 00:20:14,359 --> 00:20:18,120 Speaker 1: you know, just I was just thinking about the other 398 00:20:18,160 --> 00:20:21,000 Speaker 1: people at the hotel. Um then my wife and I 399 00:20:21,119 --> 00:20:23,760 Speaker 1: we took off from Mexico City, flew out to the 400 00:20:23,800 --> 00:20:25,680 Speaker 1: beach at Porta Villarta, hung out for a couple of days. 401 00:20:25,720 --> 00:20:28,879 Speaker 1: They're just hanging out at the beach, hanging around the 402 00:20:28,920 --> 00:20:31,480 Speaker 1: pool in the hotel resort, etcetera. And I'm just looking 403 00:20:31,480 --> 00:20:34,040 Speaker 1: at all the people there and just thinking like, these 404 00:20:34,080 --> 00:20:37,840 Speaker 1: people have no idea what's about to happen. And then 405 00:20:37,880 --> 00:20:39,520 Speaker 1: I think, you know, they have no idea what's going 406 00:20:39,560 --> 00:20:42,760 Speaker 1: to happen, and doesn't matter. Like we're in this town 407 00:20:42,800 --> 00:20:45,680 Speaker 1: of Porta Villarta, you know, we're thirty or forty minutes 408 00:20:45,680 --> 00:20:48,080 Speaker 1: away from the airport. Um, it's kind of like a 409 00:20:48,119 --> 00:20:51,760 Speaker 1: little pueblo, like a little village there. Um, they have 410 00:20:51,880 --> 00:20:54,760 Speaker 1: no idea. They're just living their lives. But what if 411 00:20:55,119 --> 00:20:58,960 Speaker 1: this entire financial system melts down? Does it affect them? Well, 412 00:20:59,760 --> 00:21:01,720 Speaker 1: you know a lot of times in in in third 413 00:21:01,720 --> 00:21:04,119 Speaker 1: world countries like this like Mexico, Central America, I'll salwid 414 00:21:04,160 --> 00:21:06,399 Speaker 1: or Nicaragua, etcetera. They don't have bank accounts that have 415 00:21:06,480 --> 00:21:07,720 Speaker 1: their money in the bank, so they don't really have 416 00:21:07,720 --> 00:21:10,440 Speaker 1: to worry about that way. But if they did have 417 00:21:10,520 --> 00:21:12,920 Speaker 1: money in the bank, that would certainly affect them in 418 00:21:12,960 --> 00:21:15,040 Speaker 1: a big way. If they obviously had stocks and bonds 419 00:21:15,080 --> 00:21:17,000 Speaker 1: and whatnot, that would certainly affect them in a big way. 420 00:21:17,000 --> 00:21:20,440 Speaker 1: But they don't not there, but their lifestyle would change. 421 00:21:21,000 --> 00:21:26,640 Speaker 1: They'd certainly have way less tourism, and they live off tourism, 422 00:21:26,800 --> 00:21:28,920 Speaker 1: so all these people that they were expected to come 423 00:21:28,960 --> 00:21:32,600 Speaker 1: there wouldn't be So just look back in March or 424 00:21:32,640 --> 00:21:36,320 Speaker 1: most of really, during the pandemic, people in Mexico were 425 00:21:36,640 --> 00:21:40,040 Speaker 1: like literally starving to death because there was no tourism. 426 00:21:40,680 --> 00:21:43,480 Speaker 1: So without any economy, well, without any tourism, what do 427 00:21:43,520 --> 00:21:46,720 Speaker 1: they do. I was involved in a in a ministry 428 00:21:46,760 --> 00:21:49,000 Speaker 1: down in another town, Porto West Candido, and I was 429 00:21:49,080 --> 00:21:52,240 Speaker 1: sending money down there, and uh, they were buying food 430 00:21:52,280 --> 00:21:53,800 Speaker 1: and they had like this food ministry where they were 431 00:21:53,840 --> 00:21:56,000 Speaker 1: delivering packets of food out to all these different people 432 00:21:56,800 --> 00:21:58,960 Speaker 1: um because they just they had no way to eat. 433 00:22:00,280 --> 00:22:03,440 Speaker 1: So even if you're not paying attention to what's going on, 434 00:22:04,000 --> 00:22:06,000 Speaker 1: and even if you don't have your money in the bank, 435 00:22:06,080 --> 00:22:08,000 Speaker 1: and even if you don't have your stocks or whatever, 436 00:22:08,480 --> 00:22:10,320 Speaker 1: you're still going to be affected by what's going on. 437 00:22:10,520 --> 00:22:12,400 Speaker 1: So again, back to dine Ran quote, you can choose 438 00:22:12,440 --> 00:22:16,200 Speaker 1: to ignore reality, but you cannot ignore the consequences of reality. 439 00:22:16,640 --> 00:22:18,000 Speaker 1: So I like to pay attention. I like to watch 440 00:22:18,040 --> 00:22:20,600 Speaker 1: the signs. Now, one thing that you want to think 441 00:22:20,600 --> 00:22:25,000 Speaker 1: about is um. One of the biggest revolutions in the 442 00:22:25,119 --> 00:22:28,240 Speaker 1: world is obviously bitcoin, but one of the one of 443 00:22:28,240 --> 00:22:30,360 Speaker 1: the features of it is that for the first time 444 00:22:30,400 --> 00:22:32,760 Speaker 1: in history, or we'll go back, one of the oldest 445 00:22:32,800 --> 00:22:36,320 Speaker 1: problems in history is how do I protect my wealth, 446 00:22:36,680 --> 00:22:39,639 Speaker 1: my assets my value in a in a way that 447 00:22:39,680 --> 00:22:42,280 Speaker 1: won't be stolen. So for the first few people in 448 00:22:42,280 --> 00:22:43,920 Speaker 1: the world, you're gonna try and come steal my chickens 449 00:22:44,000 --> 00:22:47,040 Speaker 1: or my goats. As we make a tribe and we 450 00:22:47,119 --> 00:22:48,760 Speaker 1: make a village, we make a kingdom, we make a 451 00:22:48,800 --> 00:22:52,600 Speaker 1: country to protect our private property. But bitqoins solve that 452 00:22:53,160 --> 00:22:54,639 Speaker 1: for the first time in history. Now I can have 453 00:22:54,880 --> 00:22:58,240 Speaker 1: my hundred dollars, thousand, dollars, million, dollars, billion, dollars, whatever 454 00:22:58,320 --> 00:23:01,040 Speaker 1: I have, and I can just store cryptographically and it 455 00:23:01,080 --> 00:23:04,119 Speaker 1: doesn't cost me any more time, effort, energy to secure 456 00:23:04,400 --> 00:23:07,320 Speaker 1: one dollar than it does a billion dollars and no 457 00:23:07,480 --> 00:23:09,960 Speaker 1: one could take it from me. Now that's if I 458 00:23:10,200 --> 00:23:12,879 Speaker 1: custody it myself. If I take custody now. Um to 459 00:23:13,040 --> 00:23:15,600 Speaker 1: these pensioners in the UK right now that are losing 460 00:23:15,680 --> 00:23:17,600 Speaker 1: all their money as a stump, well, the UK is 461 00:23:17,640 --> 00:23:20,000 Speaker 1: bailing them out right now. Maybe it'll work, maybe it won't. 462 00:23:20,040 --> 00:23:23,720 Speaker 1: But all their money, all their value, all their wealth 463 00:23:23,920 --> 00:23:28,639 Speaker 1: is in somebody else's pocket, in the government's pocket, and 464 00:23:28,720 --> 00:23:32,360 Speaker 1: there's a chance they don't get it back. That's called 465 00:23:32,440 --> 00:23:35,800 Speaker 1: counterparty risk. And so one of the best ways that 466 00:23:35,920 --> 00:23:37,639 Speaker 1: is to pull this out now, let's go back to 467 00:23:38,000 --> 00:23:39,800 Speaker 1: um Let's go back to America. Let's put it here. 468 00:23:39,840 --> 00:23:42,080 Speaker 1: Let's put it right here at home. Gold have been 469 00:23:42,080 --> 00:23:44,960 Speaker 1: money for five thousand years. Through the eighteen hundreds, the 470 00:23:45,040 --> 00:23:47,440 Speaker 1: United States was blowing up. People were farming and we 471 00:23:47,520 --> 00:23:50,280 Speaker 1: had agriculture growing. People were making so much money. New 472 00:23:50,359 --> 00:23:52,960 Speaker 1: towns are being developed. The wealth that was being created 473 00:23:53,040 --> 00:23:56,840 Speaker 1: was that was unimaginable. But that was all in gold. 474 00:23:57,440 --> 00:23:58,840 Speaker 1: They stored it in gold. But what do you do 475 00:23:58,920 --> 00:24:00,159 Speaker 1: with all this gold? Now, If you've got a hut, 476 00:24:00,200 --> 00:24:01,639 Speaker 1: a dollars worth of gold is easy, right, you put 477 00:24:01,640 --> 00:24:04,679 Speaker 1: it under your mattress. If you have a million dollars 478 00:24:04,720 --> 00:24:06,119 Speaker 1: of gold, you gotta do something else with it. You 479 00:24:06,160 --> 00:24:08,040 Speaker 1: can't just go bury it in the yard. And so 480 00:24:08,160 --> 00:24:11,720 Speaker 1: they put into banks. By three, everyone had just put 481 00:24:11,760 --> 00:24:13,960 Speaker 1: their gold in the banks, and the banks gave them 482 00:24:14,119 --> 00:24:17,200 Speaker 1: io us or claim saying that they were owed the gold. 483 00:24:18,760 --> 00:24:21,080 Speaker 1: Three the government shut all the banks down for a week. 484 00:24:21,119 --> 00:24:23,320 Speaker 1: When they opened the banks back up a week later, 485 00:24:24,240 --> 00:24:26,600 Speaker 1: it was illegal to own gold. You couldn't get your 486 00:24:26,640 --> 00:24:28,520 Speaker 1: gold out the bank anymore. Your gold was taken from you. 487 00:24:28,800 --> 00:24:31,480 Speaker 1: Now if you didn't have your gold in the banks, 488 00:24:32,359 --> 00:24:34,840 Speaker 1: and instead you had your gold buried in your backyard. 489 00:24:35,359 --> 00:24:37,800 Speaker 1: Guess what, you didn't get your gold stolen from you. 490 00:24:39,040 --> 00:24:41,200 Speaker 1: Or let's say you didn't have gold at all. Let's 491 00:24:41,200 --> 00:24:44,000 Speaker 1: say that you owned land and you had like a 492 00:24:44,119 --> 00:24:46,280 Speaker 1: hundred thousand head of cattle and you had a business 493 00:24:46,840 --> 00:24:49,480 Speaker 1: or whatever. Well, then they stole the gold, but I 494 00:24:49,520 --> 00:24:51,800 Speaker 1: didn't have my gold in there. So that's what we're 495 00:24:51,840 --> 00:24:54,840 Speaker 1: talking about. You have your pension in their bond market, 496 00:24:55,119 --> 00:24:56,840 Speaker 1: you have your stocks and your equities there, you have 497 00:24:56,880 --> 00:24:59,000 Speaker 1: your money in their bank accounts. If this system goes 498 00:24:59,040 --> 00:25:03,320 Speaker 1: down like it like it has many times before ninety three, 499 00:25:03,840 --> 00:25:05,959 Speaker 1: you're going to be affected. But if you don't, if 500 00:25:06,000 --> 00:25:08,320 Speaker 1: you have your money out of that like bitcoin putting 501 00:25:08,320 --> 00:25:10,840 Speaker 1: into cold storage, you're probably gonna be doing a lot 502 00:25:10,920 --> 00:25:13,600 Speaker 1: better or if you lose that counterparty risk. So um, 503 00:25:14,440 --> 00:25:16,960 Speaker 1: I'm obviously a fan of bitcoin. I think it's the future. 504 00:25:18,040 --> 00:25:21,840 Speaker 1: I think if you don't have at least two to 505 00:25:21,960 --> 00:25:24,920 Speaker 1: three percent, maybe up to a five percent allocation to 506 00:25:25,000 --> 00:25:27,920 Speaker 1: it's pretty irresponsible in today's day and age. I'm not 507 00:25:27,960 --> 00:25:30,480 Speaker 1: saying take all your money and go buy it. No, 508 00:25:30,560 --> 00:25:32,040 Speaker 1: I'm definitely saying, as a matter of fact, I'm saying 509 00:25:32,080 --> 00:25:34,040 Speaker 1: not to do that. Don't do that. But what I 510 00:25:34,119 --> 00:25:37,360 Speaker 1: am saying is you had up all your investible assets, 511 00:25:37,800 --> 00:25:40,080 Speaker 1: and investible assets are everything but your house and your 512 00:25:40,200 --> 00:25:43,119 Speaker 1: and your and your business. So take up all your 513 00:25:43,160 --> 00:25:45,440 Speaker 1: stock accounts, you know, or four one case, et cetera. 514 00:25:45,760 --> 00:25:48,040 Speaker 1: Add that all up. Is that a thousand dollars, Okay, 515 00:25:48,160 --> 00:25:51,000 Speaker 1: it's a hundred thousand dollars, whatever it is, Take one 516 00:25:51,119 --> 00:25:53,720 Speaker 1: percent or two percent of that and just put into bitcoin, 517 00:25:54,760 --> 00:25:58,520 Speaker 1: not not not a not fifty, but one or two percent, 518 00:25:58,600 --> 00:26:01,200 Speaker 1: and then when you buy it, take it off the 519 00:26:01,359 --> 00:26:04,639 Speaker 1: exchange and hold it in your own custody. Bitcoin is 520 00:26:04,680 --> 00:26:07,320 Speaker 1: a bare asset I meaning if I have it, I 521 00:26:07,400 --> 00:26:10,920 Speaker 1: have it and nobody else has it. Now, if we 522 00:26:10,960 --> 00:26:14,720 Speaker 1: need any more confidence into what's happening in the future, 523 00:26:16,680 --> 00:26:18,680 Speaker 1: it's all around us. Now. Remember I was talking about 524 00:26:18,720 --> 00:26:23,399 Speaker 1: how really pain causes action, Like my chiropractic story. I 525 00:26:23,440 --> 00:26:26,040 Speaker 1: believe in chiropractic, but I typically don't go and tell 526 00:26:26,080 --> 00:26:28,720 Speaker 1: them in pain. And so when you're you know, in 527 00:26:28,840 --> 00:26:31,560 Speaker 1: downtown New York and Manhattan and you're at the bar 528 00:26:31,800 --> 00:26:34,560 Speaker 1: order in fifteen dollar martinis, you probably don't have a 529 00:26:34,600 --> 00:26:38,200 Speaker 1: super high pain. But if you're in Mexico depending on tourism, 530 00:26:38,760 --> 00:26:41,760 Speaker 1: or you're in Sub Saharan Africa, you might have a 531 00:26:41,880 --> 00:26:45,200 Speaker 1: whole different set of pain. And that's why the areas 532 00:26:45,240 --> 00:26:47,399 Speaker 1: of the world that have this pain are the areas 533 00:26:47,440 --> 00:26:48,920 Speaker 1: that are adopting at first. And as a matter of fact, 534 00:26:48,960 --> 00:26:52,000 Speaker 1: this new report came out that shows just how fast 535 00:26:52,160 --> 00:26:55,159 Speaker 1: it's happening there and you're not going to believe it. 536 00:26:55,240 --> 00:26:56,560 Speaker 1: So I want to cover that in a minute when 537 00:26:56,600 --> 00:26:58,320 Speaker 1: I come back. You're listening to the Markma Show. We're 538 00:26:58,320 --> 00:27:00,560 Speaker 1: talking about the decentralized Revolution. Talk about the way the 539 00:27:00,600 --> 00:27:04,560 Speaker 1: world is changing through the lens of politics, finance, and technology, 540 00:27:05,600 --> 00:27:07,040 Speaker 1: and I want to cover that. I want to talk 541 00:27:07,040 --> 00:27:09,000 Speaker 1: about where the pain point is the highest, what the 542 00:27:09,119 --> 00:27:11,119 Speaker 1: numbers are of it moving through. I us want to 543 00:27:11,160 --> 00:27:14,280 Speaker 1: talk about forget the price for a minute. There's two 544 00:27:14,359 --> 00:27:16,240 Speaker 1: things that you should be watching, and neither one of 545 00:27:16,280 --> 00:27:17,840 Speaker 1: those are the price. I'm gonna talk about both of 546 00:27:17,880 --> 00:27:19,479 Speaker 1: those as well. So I got that to cover when 547 00:27:19,520 --> 00:27:22,119 Speaker 1: I come back. Don't go away, I'll beer back, all right, 548 00:27:22,160 --> 00:27:25,479 Speaker 1: Welcome back. You are listening to the Markma Show. When 549 00:27:25,520 --> 00:27:27,840 Speaker 1: we talk about the decentralized Revolution, I'm giving you the 550 00:27:27,920 --> 00:27:31,560 Speaker 1: play by play as you can see the world transforming 551 00:27:32,560 --> 00:27:36,080 Speaker 1: changing right before our very eyes, moving from a world 552 00:27:36,080 --> 00:27:40,760 Speaker 1: of centralization, top down, centrally planned world that can macform 553 00:27:40,840 --> 00:27:45,400 Speaker 1: driven world into back to a free, fair, decentralized world. 554 00:27:45,760 --> 00:27:47,520 Speaker 1: Of course, we look at through lens of politics, finance, 555 00:27:47,560 --> 00:27:52,480 Speaker 1: and technology, the technology being the decentralized revolution that we're having, 556 00:27:52,520 --> 00:27:55,560 Speaker 1: the technology being bitcoin, and you know we're talking about 557 00:27:55,600 --> 00:27:59,520 Speaker 1: how um. If you're in New York City, downtown Manhattan 558 00:27:59,680 --> 00:28:01,520 Speaker 1: and you're the bar having your fifteen dollar martini, you 559 00:28:01,600 --> 00:28:04,760 Speaker 1: probably don't see the need for it. But if you're 560 00:28:04,840 --> 00:28:07,880 Speaker 1: in UM. You know, if you're one of four billion 561 00:28:08,000 --> 00:28:11,320 Speaker 1: people in the world living under an authoritarian regime dealing 562 00:28:11,359 --> 00:28:14,680 Speaker 1: with double or triple digit inflation, you gotta need. You 563 00:28:14,720 --> 00:28:18,239 Speaker 1: have a need, you need a solution for If you're 564 00:28:18,280 --> 00:28:20,640 Speaker 1: in North Korea and you're not allowed to have any 565 00:28:20,680 --> 00:28:24,280 Speaker 1: money and without money there's no freedom, you have a need. 566 00:28:24,880 --> 00:28:27,199 Speaker 1: And so in North Korea, you know, they have this UH. 567 00:28:27,520 --> 00:28:31,159 Speaker 1: In in every area of the world, there's capitalism, capitalism 568 00:28:31,280 --> 00:28:37,240 Speaker 1: being um being taking my personal private property and trying 569 00:28:37,320 --> 00:28:42,920 Speaker 1: to do free trade and use my scarce resources more efficiently. 570 00:28:43,200 --> 00:28:47,200 Speaker 1: That's what capitalism is, and capitalism is always and everywhere present. 571 00:28:47,320 --> 00:28:51,160 Speaker 1: Even in the most communist areas, people are still doing 572 00:28:51,520 --> 00:28:55,719 Speaker 1: still still freely trading amongst themselves, and it's called black markets. Um. 573 00:28:55,840 --> 00:28:58,840 Speaker 1: Even in preschools, kids are trading sandwiches for chips or 574 00:28:58,920 --> 00:29:03,160 Speaker 1: for stickers. It's called free markets. Even in prison there's capitalism. 575 00:29:03,560 --> 00:29:06,320 Speaker 1: People are taking their scarce resources and trading it freely. 576 00:29:07,680 --> 00:29:13,720 Speaker 1: Capitalism is not crony ism. People think, oh, capitalism failed, 577 00:29:13,800 --> 00:29:15,520 Speaker 1: Look at what look at Look at the United States. 578 00:29:15,880 --> 00:29:20,800 Speaker 1: Capitalism has failed. The United States is nowhere near capitalism. 579 00:29:21,480 --> 00:29:27,560 Speaker 1: It's a matter of fact, we're seventy or not, I 580 00:29:27,600 --> 00:29:33,280 Speaker 1: guess communism. In Karl Marks's book titled The Communist Manifesto, 581 00:29:34,000 --> 00:29:38,360 Speaker 1: he lays out ten points of communism, ten points that 582 00:29:38,480 --> 00:29:40,560 Speaker 1: you must have in order to have a communist society. 583 00:29:40,560 --> 00:29:43,040 Speaker 1: The United States has seven of those ten. That's a 584 00:29:43,320 --> 00:29:47,880 Speaker 1: quantitative metric. Seven of the ten are here. It's not 585 00:29:48,040 --> 00:29:52,040 Speaker 1: freely traded corporations using the government to put regulations in 586 00:29:52,120 --> 00:29:55,480 Speaker 1: place to protect themselves and create these modes. That's not capitalism. 587 00:29:56,080 --> 00:30:00,840 Speaker 1: Capitalism is free and voluntary exchange. Capitalism led to slavery. Well, 588 00:30:01,160 --> 00:30:04,360 Speaker 1: capitalism is free in voluntary exchange. It protects private property rights. 589 00:30:04,560 --> 00:30:08,640 Speaker 1: The slavery protect private property rights. The slavery is slavery free, involuntary. 590 00:30:09,080 --> 00:30:11,640 Speaker 1: So it's not capitalism. You can call it that if 591 00:30:11,680 --> 00:30:14,280 Speaker 1: you want, but that's not what it is, all right. 592 00:30:14,680 --> 00:30:17,320 Speaker 1: Uh oh, and a shameless plug. If you've never read 593 00:30:17,320 --> 00:30:20,400 Speaker 1: the Communist Manifesto, save yourself the brain cells. UM. I 594 00:30:20,520 --> 00:30:24,560 Speaker 1: wrote a rebuttal to that. It's called the Uncommunist Manifesto. 595 00:30:24,760 --> 00:30:26,959 Speaker 1: You can find it on Amazon and went live UM 596 00:30:27,120 --> 00:30:32,120 Speaker 1: in August, and uh, check it out, Uncommonist Manifesto. Leave 597 00:30:32,160 --> 00:30:34,360 Speaker 1: me a review. I'd love to hear it. All right. Now, 598 00:30:34,680 --> 00:30:37,960 Speaker 1: back to where the pain is the highest. And again, 599 00:30:38,120 --> 00:30:41,040 Speaker 1: this is in these um areas where the pain is 600 00:30:41,040 --> 00:30:43,040 Speaker 1: the highest. And so what we see is that crypto 601 00:30:43,160 --> 00:30:47,080 Speaker 1: is quietly thriving in Sub Saharan Africa. Per a chain 602 00:30:47,080 --> 00:30:51,400 Speaker 1: analysis report. Reports shows strong crypto usage and adoption rates 603 00:30:51,440 --> 00:30:55,840 Speaker 1: in the region with highly educated young people in low 604 00:30:56,000 --> 00:30:59,600 Speaker 1: job prospects. Crypto is a quote, a way to feed 605 00:30:59,800 --> 00:31:04,920 Speaker 1: the families. Mhmm, that sounds weird. I thought it was 606 00:31:04,960 --> 00:31:07,560 Speaker 1: just for criminals. I thought it was only for criminals 607 00:31:07,600 --> 00:31:10,000 Speaker 1: that want to do criminal things. I thought it was 608 00:31:10,080 --> 00:31:13,840 Speaker 1: just for financial speculators. Well, in America, it is because 609 00:31:13,840 --> 00:31:16,120 Speaker 1: there's no there's no well, I'm not it's not for 610 00:31:16,320 --> 00:31:18,480 Speaker 1: not for criminals, but it's for speculating in the US 611 00:31:18,520 --> 00:31:22,440 Speaker 1: because we don't have the pain. But in Sub Sahara Africa, 612 00:31:22,600 --> 00:31:26,959 Speaker 1: we are who, says um the region sub Saharan Africa, 613 00:31:27,400 --> 00:31:32,400 Speaker 1: cryptodoption usage is has the world's highest proportion of crypto 614 00:31:32,800 --> 00:31:35,760 Speaker 1: retail payments of less than a thousand dollars, has eighty 615 00:31:35,880 --> 00:31:41,920 Speaker 1: percent of the world's proportion of crypto payments of under 616 00:31:41,960 --> 00:31:45,400 Speaker 1: a thousand dollars. That means it's being used for real things. 617 00:31:46,560 --> 00:31:48,880 Speaker 1: The report highlights how peer to peer transactions are more 618 00:31:49,000 --> 00:31:53,120 Speaker 1: common in Sub Saharan Africa than anywhere else in the world. 619 00:31:54,040 --> 00:31:59,200 Speaker 1: Six percent of all crypto transaction volume is happening in Africa. 620 00:32:00,600 --> 00:32:03,960 Speaker 1: Um It says. It dwarfs those of Central and Southern 621 00:32:04,040 --> 00:32:07,800 Speaker 1: Asia and Oceania, with the region uh and Oceania the 622 00:32:07,800 --> 00:32:10,200 Speaker 1: region with the second highest volumes in that category. Many 623 00:32:10,240 --> 00:32:14,040 Speaker 1: Africans have integrated crypto into everyday life. The report says 624 00:32:15,040 --> 00:32:17,880 Speaker 1: crypto usage is driven by everyday necessity, as opposed to 625 00:32:18,880 --> 00:32:23,120 Speaker 1: so it's driven by everyday necessity, not by speculation by 626 00:32:23,160 --> 00:32:26,720 Speaker 1: the already well off. It's especially in countries where the 627 00:32:26,880 --> 00:32:31,160 Speaker 1: values of local fiat currencies are dropping, as we've seen 628 00:32:31,200 --> 00:32:35,480 Speaker 1: in Nigeria and Kenya. So again, if you're in Nigeria Kenya, 629 00:32:35,560 --> 00:32:37,600 Speaker 1: where the value of your currency is dropping so fast 630 00:32:37,680 --> 00:32:41,000 Speaker 1: you know you're losing sixty of the value of your currency, 631 00:32:41,240 --> 00:32:43,600 Speaker 1: You're gonna go to something else at least be better. 632 00:32:44,760 --> 00:32:46,600 Speaker 1: You're gonna go to crypto. You're gonna go to bitcoin. 633 00:32:47,200 --> 00:32:50,320 Speaker 1: But but bitcoin is too volatile. Well, it's too volatile, 634 00:32:50,360 --> 00:32:52,480 Speaker 1: I would agree, it's much more volatile the United States 635 00:32:52,640 --> 00:32:55,680 Speaker 1: US dollar currency. But what about if you're in Nigeria Kenya? 636 00:32:56,040 --> 00:32:58,680 Speaker 1: Is it more volatile than those currencies? Is it at 637 00:32:58,760 --> 00:33:01,560 Speaker 1: risk of getting seized like what's happening in Lebanon. The 638 00:33:01,640 --> 00:33:05,080 Speaker 1: answer is no, You're gonna take your chance. It says 639 00:33:05,120 --> 00:33:08,320 Speaker 1: here we don't have big institutional level traders in Sub 640 00:33:08,360 --> 00:33:12,440 Speaker 1: Saharan Africa. It's the people driving the market here, and 641 00:33:12,560 --> 00:33:17,000 Speaker 1: they're all retail. Nigeria has a ton of highly educated 642 00:33:17,080 --> 00:33:21,360 Speaker 1: young graduates with high unemployment rates and no jobs available. 643 00:33:21,400 --> 00:33:24,960 Speaker 1: So it's not just uh, stupid, ignorant um, dumb people 644 00:33:25,080 --> 00:33:29,840 Speaker 1: being taken advantage of. It's not just rich speculators trying 645 00:33:29,880 --> 00:33:34,000 Speaker 1: to make money. No highly educated young graduates with high 646 00:33:34,080 --> 00:33:37,640 Speaker 1: unemployment rates and no jobs available. Cryptosm is they rescue. 647 00:33:37,720 --> 00:33:41,160 Speaker 1: It's a way to feed their family. The report says, 648 00:33:41,920 --> 00:33:44,520 Speaker 1: it's growing now, grows where the need is the biggest, 649 00:33:46,400 --> 00:33:51,560 Speaker 1: just like other technologies do. So. The Internet was a 650 00:33:51,600 --> 00:33:54,040 Speaker 1: technology that swept across the world. It's changed the world. 651 00:33:54,080 --> 00:33:55,960 Speaker 1: That's brought more quality to the world than anything in 652 00:33:56,000 --> 00:33:59,200 Speaker 1: the world. If you have a smartphone, which most of 653 00:33:59,240 --> 00:34:03,360 Speaker 1: the world does now, you're pretty equal. You can learn 654 00:34:03,760 --> 00:34:06,960 Speaker 1: anything you want in the world with a smartphone on 655 00:34:07,520 --> 00:34:10,879 Speaker 1: Google or YouTube. You can meet anybody in the world 656 00:34:10,960 --> 00:34:14,839 Speaker 1: that you want on social media. You can pretty much 657 00:34:14,960 --> 00:34:17,520 Speaker 1: do any business that you want in the world from 658 00:34:17,520 --> 00:34:22,920 Speaker 1: a smartphone. If if you're allowed to join the financial network. 659 00:34:23,200 --> 00:34:27,200 Speaker 1: Now half the world isn't allowed to join the global 660 00:34:27,239 --> 00:34:32,080 Speaker 1: financial system. Why because they're not They're not able to 661 00:34:32,120 --> 00:34:35,000 Speaker 1: do They don't have permission. They don't have permission to 662 00:34:35,160 --> 00:34:39,640 Speaker 1: join the big deal now. Jack Dorsey who you might know. 663 00:34:40,239 --> 00:34:42,040 Speaker 1: You might know that name. He was the founder of 664 00:34:42,080 --> 00:34:47,799 Speaker 1: the CEO of Twitter until recently he stepped down. Jack Dorsey, Um, yeah, 665 00:34:47,960 --> 00:34:49,920 Speaker 1: I mean you don't have to you obviously, I'm sure 666 00:34:49,960 --> 00:34:51,400 Speaker 1: know who is. He's not only a founder of Twitter, 667 00:34:51,680 --> 00:34:55,840 Speaker 1: but also Block, which is square and cash app, one 668 00:34:55,880 --> 00:34:58,880 Speaker 1: of the largest digital payment providers in the world. He 669 00:34:59,120 --> 00:35:03,440 Speaker 1: left Twitter to focus the rest of his life on 670 00:35:03,600 --> 00:35:05,839 Speaker 1: building bitcoin. That's what he said. Those are his words. 671 00:35:06,560 --> 00:35:08,360 Speaker 1: He created a new company called t b d the 672 00:35:08,480 --> 00:35:11,799 Speaker 1: It's a bitcoin focused subsidiary of Jack Dorsey's Block, which 673 00:35:11,880 --> 00:35:15,920 Speaker 1: is uh sq. It's teaming up with now Circle Internet Finance, 674 00:35:16,200 --> 00:35:18,640 Speaker 1: which is an issuer of a stable coin of u 675 00:35:18,719 --> 00:35:21,040 Speaker 1: s DC. Now stable coin is like a digital dollar, 676 00:35:21,400 --> 00:35:24,440 Speaker 1: and it's helping to bring cross border dollar links stable 677 00:35:24,480 --> 00:35:28,640 Speaker 1: coin transfers and savings two investors globally. Block is a 678 00:35:28,640 --> 00:35:31,200 Speaker 1: payments firm that runs on cash app, that runs cash app, 679 00:35:31,520 --> 00:35:33,839 Speaker 1: and it's him by Twitter co founder. Like I said, 680 00:35:34,120 --> 00:35:37,520 Speaker 1: Jack Dorsey. Now, people that live in countries with rapidly 681 00:35:37,600 --> 00:35:42,239 Speaker 1: depreciating currencies such as Argentina and Turkey and of course 682 00:35:42,239 --> 00:35:44,920 Speaker 1: sub Saharan Africa like we were talking about, they have 683 00:35:45,200 --> 00:35:48,560 Speaker 1: moved into crypto to protect their savings from devaluation, and 684 00:35:48,680 --> 00:35:52,600 Speaker 1: specifically US dollar link stable coins. They become a popular 685 00:35:52,600 --> 00:35:56,680 Speaker 1: alternative for savings and remittances. Remittances are sending currency back 686 00:35:56,760 --> 00:36:00,880 Speaker 1: and forth, and US dollar is there of currency today 687 00:36:01,000 --> 00:36:04,080 Speaker 1: and we think bitcoin might be the reserve currency of tomorrow. 688 00:36:05,000 --> 00:36:09,200 Speaker 1: I would agree, however, stable coins are the bridge in 689 00:36:09,520 --> 00:36:13,960 Speaker 1: between the two, says Emily Chew, TVDS chief operating Officer 690 00:36:14,280 --> 00:36:18,880 Speaker 1: told Coin Desk, and so again Argentina, Turkey, subscar in Africa. 691 00:36:19,440 --> 00:36:23,000 Speaker 1: This is where it's growing now. Eventually it's going to 692 00:36:23,120 --> 00:36:26,719 Speaker 1: come to England when the Bank of England finally capitulates 693 00:36:26,760 --> 00:36:28,480 Speaker 1: and breaks, and it's kind of come to the United 694 00:36:28,480 --> 00:36:30,560 Speaker 1: States as well. You have the chance to get in 695 00:36:30,880 --> 00:36:34,239 Speaker 1: before everybody else if you can see the science which 696 00:36:34,239 --> 00:36:35,799 Speaker 1: I'm trying to report to you each and every week. 697 00:36:36,120 --> 00:36:37,799 Speaker 1: By the way, you're listening to the Mark Moa show 698 00:36:37,880 --> 00:36:40,120 Speaker 1: talking about the decentralized revolution, the way the world is 699 00:36:40,200 --> 00:36:42,640 Speaker 1: changing right before ver eyes. If you know what you're 700 00:36:42,680 --> 00:36:44,880 Speaker 1: looking for, you have a chance to front run this 701 00:36:44,960 --> 00:36:46,560 Speaker 1: With the information I'm giving you. I hope that you 702 00:36:46,680 --> 00:36:48,720 Speaker 1: take it and that's what I got. Thanks for listening.