WEBVTT - Voting for Your Money 0:00:00.080 --> 0:00:02.080 All right, welcome back. You are listening to the Mark 0:00:02.160 --> 0:00:04.960 Mo Show. We're talking about the decentralized revolution each and 0:00:04.960 --> 0:00:06.560 every week, of course, talking about the way the world 0:00:06.680 --> 0:00:08.799 is changing, and we look at it through the lens 0:00:08.800 --> 0:00:12.880 of politics, finance, and technology. Of course, the decentralized technologies 0:00:13.000 --> 0:00:14.760 was changing the world. Of course, that is a bitcoin, 0:00:15.480 --> 0:00:18.799 and we are witnessing all three of these things converging 0:00:18.800 --> 0:00:22.079 and clashing. I say it with a smile on my face. 0:00:22.320 --> 0:00:25.919 Uh not because I enjoy the pain that's being inflicted, 0:00:26.000 --> 0:00:27.800 or the or the or the more pain that will 0:00:27.840 --> 0:00:31.400 unfortunately come for most people. Um. I say it just 0:00:31.440 --> 0:00:34.080 because it is interesting. We've been waiting for this to 0:00:34.080 --> 0:00:36.960 happen for a long time. It's finally happening, and it 0:00:37.000 --> 0:00:38.760 gives me a lot of stuff to talk about now. 0:00:38.800 --> 0:00:40.360 Like I said, if you're not prepared, if you're on 0:00:40.400 --> 0:00:42.479 the wrong side of this, it could be drastic for you. 0:00:42.520 --> 0:00:45.120 But you still got time. You still got time. Now, 0:00:45.280 --> 0:00:47.360 I like to say. I like to like to quote 0:00:47.560 --> 0:00:50.800 Iron Rand. She says that you can choose to ignore reality, 0:00:51.040 --> 0:00:56.120 but you can't ignore the consequences of reality. And so 0:00:57.040 --> 0:00:58.800 I think about that, this is the reality. I like 0:00:58.840 --> 0:01:01.120 to also say that we don't we don't invest in 0:01:01.160 --> 0:01:02.920 the markets as we want them to be, as we 0:01:02.960 --> 0:01:05.280 wish they would be, as we think they should be, 0:01:05.600 --> 0:01:07.360 but rather as they are. So we want to pay 0:01:07.400 --> 0:01:11.679 attention to this now as we're witnessing the world breakdown. Um, 0:01:11.800 --> 0:01:14.400 we were just talking about in the previous segment. The 0:01:14.440 --> 0:01:17.360 Bank of England, one of the largest central banks in 0:01:17.400 --> 0:01:21.399 the developed world, is breaking right now. They've they've put 0:01:21.400 --> 0:01:24.440 in some backstop measures that most likely won't work for 0:01:24.480 --> 0:01:26.840 a very long period of time at least, And so 0:01:27.080 --> 0:01:30.679 we're witnessing this happening now. As this is happening, Bitcoin 0:01:30.880 --> 0:01:33.800 appears to be kind of holding up. And why is 0:01:33.840 --> 0:01:37.319 that now? Um, we know that bitcoin was created in 0:01:37.319 --> 0:01:40.240 two thousand eight at the two thou eight Great financial Crash. 0:01:40.319 --> 0:01:44.480 We have not witnessed bitcoin go through a bear market. 0:01:44.520 --> 0:01:47.160 It was really created at the bottom of the bear 0:01:47.280 --> 0:01:49.400 market of the last cycle, and so we don't really 0:01:49.440 --> 0:01:51.240 know what's going to happen. We don't have a historical 0:01:51.280 --> 0:01:53.600 context where historical lens from them, but we do know 0:01:53.640 --> 0:01:55.480 it was created physically for this. As a matter of fact, 0:01:55.520 --> 0:01:58.800 the first line of code by Sotsian Akamoto said that 0:01:59.280 --> 0:02:01.040 the Chancellor is on the brink of a second bill out. 0:02:01.040 --> 0:02:03.120 So he was basically putting the message that banks are 0:02:03.120 --> 0:02:05.480 gonna keep bailing themselves out. They're gonna keep printing more money. 0:02:05.480 --> 0:02:08.240 As they continue to print more money, your money loses 0:02:08.320 --> 0:02:11.200 its purchasing power, which of course is what inflation is. 0:02:11.880 --> 0:02:14.200 And so um it was created for this, and here 0:02:14.240 --> 0:02:17.840 we are witnessing it kind of I'd like to say, 0:02:17.880 --> 0:02:19.639 coming to an end. But you know, we don't know 0:02:19.680 --> 0:02:22.200 how many more tricks these central bankers have up their sleeves. 0:02:22.840 --> 0:02:25.560 Um safety in uh A Moose. He wrote the book 0:02:25.560 --> 0:02:27.760 The Bitcoin Standard, which I highly recommend. If you haven't 0:02:27.840 --> 0:02:31.520 read that book, The Bitcoin Standard, you certainly should. I 0:02:31.560 --> 0:02:34.160 love the book because it really goes through a full 0:02:34.280 --> 0:02:37.400 history of what money is, all the different forms of money, 0:02:37.400 --> 0:02:39.200 how are they used, why they're important. He goes through 0:02:39.200 --> 0:02:41.679 the history of the gold standard, and then it goes 0:02:41.720 --> 0:02:44.160 into a new, better way, which would be a Bitcoin standard. 0:02:44.200 --> 0:02:46.640 And so a great book. It's a it's a big book, 0:02:46.880 --> 0:02:50.120 highly worth reading. But he said that the only way 0:02:50.120 --> 0:02:54.359 for Bitcoin to be defeated would be for central banks 0:02:54.400 --> 0:03:02.160 to become fiscally responsible. So pain caused is um innovation 0:03:03.520 --> 0:03:07.160 we typically only move when we're in enough pain. Now, 0:03:07.240 --> 0:03:10.160 I believe in chiropractic. I've been going to chiropractors most 0:03:10.160 --> 0:03:12.800 of my life. I believe in it. I understand that 0:03:12.880 --> 0:03:16.040 your you know your spine, all your nerves your body 0:03:16.160 --> 0:03:17.600 come to your spine, and you want to keep your 0:03:17.600 --> 0:03:19.600 spine in perfectly alignment to keep your body and harmony. 0:03:19.639 --> 0:03:22.160 I believe in it. But as much as I believe 0:03:22.160 --> 0:03:24.760 in it, I typically only go when I'm in pain, right, 0:03:24.800 --> 0:03:27.519 And the more pain I'm in, the more motivated UM 0:03:27.520 --> 0:03:29.600 to go. And so that's just unfortunately how we are 0:03:29.880 --> 0:03:32.000 as humans. We need some sort of a pain, typically 0:03:32.800 --> 0:03:35.560 greater greater pain, so we'll be motivated by greed, but 0:03:35.640 --> 0:03:39.640 but usually pain. So UM solutions start coming to problems. 0:03:39.920 --> 0:03:42.840 When we have problems, we start looking for solutions to 0:03:42.880 --> 0:03:45.720 those problems. Now, we have a problem with what we 0:03:45.840 --> 0:03:49.640 use as money today because the central bankers continually manipulate 0:03:49.720 --> 0:03:54.760 it and continually cause boom and bust cycles. And that's 0:03:54.800 --> 0:03:57.360 probably one thing we can just count on. We can 0:03:57.440 --> 0:04:02.800 count on humans controlling money will always manipulate it. We 0:04:02.800 --> 0:04:05.640 can just count on that. It's human nature. And so 0:04:06.080 --> 0:04:08.920 the only way that so that's a problem. It's a 0:04:08.960 --> 0:04:11.040 massive problem. Now, if you're in you know, if you're 0:04:11.040 --> 0:04:12.960 in the United States and you go to the bar tonight, 0:04:13.000 --> 0:04:14.960 you're gonna have a fifteen dollar cocktail. It's not really 0:04:14.960 --> 0:04:17.880 bothering that much. But if you're about four billion people 0:04:17.920 --> 0:04:21.800 in the world today living under double and triple digit inflation, 0:04:22.040 --> 0:04:25.720 it's a big, big deally. It's ruining your life. We're 0:04:25.720 --> 0:04:28.600 gonna talk about that in a minute. And so you 0:04:28.640 --> 0:04:30.680 need a solution for this. Now, there's some solutions that 0:04:30.680 --> 0:04:33.160 are available, and that's why we're seeing it in these 0:04:33.520 --> 0:04:35.640 other areas of the world. First. But again back to 0:04:35.720 --> 0:04:38.600 the quote by Safety and Um. The only way for 0:04:38.640 --> 0:04:40.440 bitcoin to be defeated is if central bank has become 0:04:40.440 --> 0:04:43.880 fiscally responsible, which we don't count on happening because of 0:04:43.960 --> 0:04:47.560 human nature. Now, since the bank in Linton has been breaking, 0:04:47.600 --> 0:04:50.120 they've they've agreed to bail out their financial stem belt, 0:04:50.120 --> 0:04:55.560 the pension funds. We've seen bitcoin go up meanwhile everything 0:04:55.600 --> 0:04:59.680 else is going down. It's pretty interesting. Now. One of 0:04:59.720 --> 0:05:02.800 them most famous, maybe one of the boat most successful 0:05:02.880 --> 0:05:06.840 investors in the world today is Stanley druck and Miller Um. 0:05:06.839 --> 0:05:10.520 He actually worked under George Soros and helped organize the 0:05:10.560 --> 0:05:12.440 trade where they broke the Bank of England in a 0:05:12.520 --> 0:05:16.800 single day made a billion dollars. He's uh. His the 0:05:16.839 --> 0:05:20.479 way that he invests has really always been following the 0:05:20.520 --> 0:05:23.920 liquidity of the system. So he's watching central bank um 0:05:24.040 --> 0:05:26.200 policy and when they increase the money supplier, when they 0:05:26.200 --> 0:05:28.800 decrease the money supply, um, he knows what to do 0:05:28.839 --> 0:05:32.320 with his money now. He came out a few years 0:05:32.360 --> 0:05:34.200 ago and said he's a fan of bitcoin. As a 0:05:34.200 --> 0:05:36.880 matter of fact, he's buying bitcoin. The most successful investors, 0:05:36.880 --> 0:05:38.920 one of the most successful investors in the world studying 0:05:39.000 --> 0:05:42.279 under George Soros. He said that he's buying bitcoin because 0:05:42.279 --> 0:05:46.679 he understands because he studies right, his whole investing strategy 0:05:46.720 --> 0:05:48.960 has been following what central banks do. He understands what 0:05:48.960 --> 0:05:52.080 they're doing, and he understands there's a need for something 0:05:52.240 --> 0:05:55.720 like bitcoin. He came out this week and he said 0:05:55.760 --> 0:05:59.600 that he thinks that crypto could enjoy a quote unquote 0:05:59.640 --> 0:06:04.400 rent assans as trust in banks fades, is what he said. 0:06:04.880 --> 0:06:09.040 He said, uh, he said, as the global economy extends 0:06:09.240 --> 0:06:12.279 its suffering, is what he said. So he hinted at 0:06:12.320 --> 0:06:15.599 a renaissance FIRSUS the crypto space. If public trust fades 0:06:16.160 --> 0:06:19.279 in central banks, well is it fading, Well, they've clearly 0:06:19.320 --> 0:06:22.240 lost control. The Federals over the United States has two mandates, 0:06:22.880 --> 0:06:27.880 full employment and stable prices. Were certainly nowhere near stable prices. 0:06:28.080 --> 0:06:30.919 We haven't had anything remotely close to stable prices for 0:06:30.960 --> 0:06:33.479 at least the last couple of years. So they're they're 0:06:33.480 --> 0:06:37.240 obviously failing at that. They're trying to regain credibility. This 0:06:37.320 --> 0:06:40.000 is their words. Um. Jerome Palace said they were going 0:06:40.040 --> 0:06:43.880 to keep at it until it is done. So they're 0:06:43.880 --> 0:06:46.440 gonna keep at whatever they're doing to which is raising 0:06:46.520 --> 0:06:50.599 rates um to regain credibility. They want to show the 0:06:50.640 --> 0:06:52.600 world that they have control of the money system, but 0:06:52.600 --> 0:06:55.400 they don't. Nobody believes it. And on top of it, 0:06:55.480 --> 0:06:57.640 we're witnessing them failing left and right now. The Central 0:06:57.640 --> 0:06:59.839 Bank of the United States FED would probably the last 0:06:59.880 --> 0:07:02.480 one and standing, in my opinion, We're watching the smaller 0:07:02.480 --> 0:07:06.160 ones go bust left and right. They're all scrambling right now. 0:07:06.160 --> 0:07:08.160 So public trust is fading. So he said there will 0:07:08.160 --> 0:07:11.400 be a renaissance if public trust fades. What's happening. He 0:07:11.400 --> 0:07:13.480 said that rate hikes from the FED and worse in 0:07:13.600 --> 0:07:18.200 macroeconomic conditions have proven brutal to the industry. Yes, of course. 0:07:18.240 --> 0:07:21.400 So what we've seen is that because they've been raising raith, 0:07:21.600 --> 0:07:24.640 we've seen risk on assets. These are like tech stocks, 0:07:24.800 --> 0:07:28.000 these are cryptocurrencies. They've had a massive sell off. There's 0:07:28.000 --> 0:07:31.480 no denying that Bitcoin is down almost it's a big 0:07:31.560 --> 0:07:34.320 draw down, but that's because Bitcoin is being traded like 0:07:34.360 --> 0:07:37.400 a risk on asset. But Stanley Ducker Miller thinks that 0:07:37.480 --> 0:07:41.120 it could see a revival as this macro situation worsens 0:07:41.160 --> 0:07:43.920 and it could actually shift from being a risk on 0:07:44.040 --> 0:07:46.600 asset to a risk off asset. And he's not the 0:07:46.680 --> 0:07:49.320 only one. As a matter of fact, Bloomberg Intelligence put 0:07:49.320 --> 0:07:52.440 out a report saying that they believe that by the 0:07:52.520 --> 0:07:56.840 end of two Bitcoin will transform from a risk on 0:07:57.000 --> 0:08:00.920 asset to a risk off asset. What does that mean? 0:08:01.720 --> 0:08:04.360 Risk on is things that you buy when you're okay 0:08:04.400 --> 0:08:07.840 taking the risk. When there's tons of central bank liquidity 0:08:07.840 --> 0:08:10.520 going into the system, everything is gonna go higher that 0:08:10.560 --> 0:08:12.680 I'm gonna go into the riskiest things because I'll get 0:08:12.720 --> 0:08:14.480 the best return. So these are the tech stocks that 0:08:14.560 --> 0:08:16.320 don't make any money or you know, don't make any 0:08:16.320 --> 0:08:20.880 profits cryptocurrencies, et CETERA. Risk off is when UH markets 0:08:20.880 --> 0:08:23.080 are crashing, I don't want to take any risk anymore. 0:08:23.120 --> 0:08:25.280 I better move my money into very safe things. So 0:08:25.280 --> 0:08:28.240 these are typically government bonds. Um, these are gold, things 0:08:28.240 --> 0:08:32.400 like that. Those are risk off. So they think that bitcoin. 0:08:32.480 --> 0:08:34.720 Bloomberger Intelligence thinks that bitcoin will move from a risk 0:08:34.760 --> 0:08:38.160 on to a risk off because of what's happening. And 0:08:38.240 --> 0:08:40.480 Druckton Miller is saying the same thing. He says that 0:08:40.520 --> 0:08:42.640 he thinks the U. S economy could suffer from a 0:08:42.720 --> 0:08:46.959 quote hard landing in the medium term future. What's the 0:08:47.040 --> 0:08:50.400 medium term probably the next six months. He didn't say that, 0:08:50.440 --> 0:08:53.160 I said that, adding that he would be stunned if 0:08:53.200 --> 0:08:56.280 we don't have a recession. Ine that's what he says. 0:08:56.559 --> 0:08:59.040 So he thinks that we're gonna have a hard landing. 0:08:59.200 --> 0:09:02.520 Hard landing means a big crash, and he'd be stunned 0:09:02.559 --> 0:09:06.679 if it doesn't happen. In UM, just taking a break 0:09:06.720 --> 0:09:08.640 for a second. You're listening to the Mark Moshow. If 0:09:08.679 --> 0:09:11.840 you're just tuning in, we're talking about the decentralized revolution, 0:09:11.840 --> 0:09:13.600 the way the world is changing when we look at 0:09:13.640 --> 0:09:16.080 it through politics, finance, and technology. Of course, the technology 0:09:16.120 --> 0:09:18.480 being bitcoin, which we're talking about right now. I'm talking 0:09:18.520 --> 0:09:21.880 about what one of the greatest investors alive today had 0:09:21.920 --> 0:09:24.160 to say this week about what's coming next. You don't 0:09:24.200 --> 0:09:25.880 want to miss what you have to say and more specifically, 0:09:25.920 --> 0:09:27.280 what you should be doing about it. I'll be right back. 0:09:27.400 --> 0:09:30.000 Don't go away, all right, welcome back. You are listening 0:09:30.040 --> 0:09:33.400 to the Mark ma Show. We're talking about the decentralized revolution, 0:09:33.440 --> 0:09:37.439 talking about the world changing. The financial system is crashing. 0:09:37.840 --> 0:09:40.480 We look at the politics, the finance, and the technology piece. 0:09:40.760 --> 0:09:44.720 The financial system is crashing. The political leaders are trying 0:09:44.760 --> 0:09:48.440 to angle a maneuver to hang onto it. And then 0:09:48.480 --> 0:09:50.480 of course the financial system is being destroyed and a 0:09:50.520 --> 0:09:53.280 new one is being created. So Stanley Dreco Miller, one 0:09:53.280 --> 0:09:55.240 of the greatest investors in the world today, says that 0:09:55.520 --> 0:09:57.319 he thinks that we're gonna the US is going to 0:09:57.400 --> 0:10:00.320 have a hard landing in the medium turn. He said 0:10:00.440 --> 0:10:02.679 he will be son of it at him by next year. Um. 0:10:02.679 --> 0:10:05.840 He said the US was in quote deep trouble, and 0:10:05.880 --> 0:10:09.400 he shared an ominous warning that said quote something really 0:10:09.800 --> 0:10:13.880 bad could happen. His words, something really bad could happen. 0:10:14.200 --> 0:10:16.440 Do the worst thing state of the economy. Now, like 0:10:16.480 --> 0:10:18.959 I said, this guy has an amazing track record in 0:10:19.000 --> 0:10:22.600 playing market cycles, and he he hinted. He said that 0:10:22.640 --> 0:10:27.160 there's actually probably a silver lining for bitcoin again, he said, 0:10:27.200 --> 0:10:30.280 there's a renaissance if people start to lose trust in 0:10:30.400 --> 0:10:34.960 central banks. What we're seeing is that if you have 0:10:35.040 --> 0:10:38.800 your money in the banks, it could disappear. Now again, 0:10:39.200 --> 0:10:41.520 it works in the places where the pain is the highest. 0:10:41.520 --> 0:10:44.000 Now in the United States the pain is the lowest. 0:10:44.400 --> 0:10:47.360 It's the lowest and most likely the pain will come 0:10:47.400 --> 0:10:51.000 to us in the United States last. But do you 0:10:51.040 --> 0:10:53.160 want to make the mistake and lose everything or would 0:10:53.200 --> 0:10:55.760 you rather learn from other people's mistakes so you don't 0:10:55.800 --> 0:10:57.920 have to know. I would prefer to learn from other 0:10:57.920 --> 0:11:00.800 people's mistakes, which I try and do. So what mistakes 0:11:00.800 --> 0:11:05.480 are we seeing? Well, in Lebanon, people are literally breaking 0:11:05.559 --> 0:11:08.960 into the banks. They're literally doing bank heist to get 0:11:09.000 --> 0:11:12.920 their own money out because they can't get it in 0:11:12.960 --> 0:11:15.800 the UK. We're not talking about Lebanon. We're talking about 0:11:15.800 --> 0:11:19.840 in the UK the bond investors, the pensions, the retirees 0:11:20.360 --> 0:11:22.240 just potentially lost all their money. But the central bank 0:11:22.320 --> 0:11:24.200 just bill didn't stepped in to bail them out. How 0:11:24.240 --> 0:11:26.480 long can they keep doing that? For? Answer is not 0:11:26.559 --> 0:11:29.920 very long. But this can't happen here, Mark, no way. 0:11:29.960 --> 0:11:32.760 We're the United States. Sure, we're the United States reserve 0:11:32.800 --> 0:11:34.800 currency of the world. With the FDIC insurance right back 0:11:34.840 --> 0:11:38.960 up those bank statements. It will it, certainly will, I believe. 0:11:39.280 --> 0:11:42.720 Uh No, there's a chance it won't. FDC insurance doesn't 0:11:42.760 --> 0:11:44.600 have enough insurance to cover the bank deposits. It would 0:11:44.600 --> 0:11:47.040 take a Congress to act and give them the amount 0:11:47.040 --> 0:11:49.160 of money they would need. And even if even if 0:11:49.160 --> 0:11:51.920 Congress did do that, they'd have to go print eighty 0:11:51.960 --> 0:11:55.280 trillion dollars. But what would happen if they did that, Well, 0:11:55.280 --> 0:11:58.560 that would devalue the currency massively. So even if they 0:11:58.600 --> 0:12:00.880 did give you your dollars back, they would only buy 0:12:00.920 --> 0:12:03.319 you a fraction of what they would buy today. So 0:12:03.600 --> 0:12:05.520 it makes sense I might want to have some assets 0:12:05.520 --> 0:12:08.920 that are outside this system, And that's exactly what he's 0:12:08.920 --> 0:12:11.880 talking about. Druckor Miller's argument is that the asset class 0:12:11.920 --> 0:12:15.000 could see a bounce not because of the FED flipping 0:12:15.040 --> 0:12:17.640 from hawks to dothers. So right now the FED is hawkish, right, 0:12:17.840 --> 0:12:21.680 They're they're gonna crush inflation. We're gonna crush demand. They're 0:12:21.760 --> 0:12:25.240 very hawkish, they're very harsh, moving to devilish means. They're 0:12:25.360 --> 0:12:28.839 they're light, they're friendly. They're gonna now ease system. They're 0:12:28.840 --> 0:12:31.080 gonna pump money back in. So he said, he said 0:12:31.080 --> 0:12:33.120 that we could see the act class bounce, not because 0:12:33.160 --> 0:12:36.520 the FED flipping from hawks to dovish, but because people 0:12:36.559 --> 0:12:40.040 may lose trust and central banks like the FED altogether. 0:12:40.120 --> 0:12:44.200 And I think that's exactly what's happening now. Um, there's 0:12:44.280 --> 0:12:48.280 other bullish tell winds behind bitcoin as well as a 0:12:48.320 --> 0:12:54.320 matter of fact, Um, the CFTC chairman Benroom said this 0:12:54.400 --> 0:12:59.920 week that he thinks the quote bitcoin price could dub 0:13:00.960 --> 0:13:08.120 mm hmm CFTC. CFTC chairman. What did he say exactly? Now, 0:13:08.160 --> 0:13:09.760 if you're not if you know what the CFTC is, 0:13:09.840 --> 0:13:14.320 it's the Commodities Futures Trading Commission. It's the regulatory body 0:13:14.400 --> 0:13:17.600 in the United States that regulates commodities. Commodities are typically 0:13:17.679 --> 0:13:21.440 real things. These are wheat, it's oil, it's gas, it's uranium, 0:13:21.920 --> 0:13:28.360 um silver, right, that's commodities. Securities are equities. Securities are 0:13:28.400 --> 0:13:31.720 Tesla stock or Apple stock or Microsoft Stock, so securities 0:13:31.880 --> 0:13:35.440 and commodities. The commodities are. The CFTC is the regulatory 0:13:35.440 --> 0:13:39.520 body the United States, and they are. Well, bitcoin has 0:13:39.559 --> 0:13:42.640 been kind of up for debate. They've been squabbling over 0:13:42.720 --> 0:13:44.640 who's going to control bitcoin. A lot of people say, well, 0:13:44.640 --> 0:13:46.599 wait till the government regulates it. Well, I'm like the 0:13:46.679 --> 0:13:49.880 government already regulates as a matter of fact, the CFTC 0:13:49.960 --> 0:13:52.120 already regulates it as a matter of fact, the SEC 0:13:52.280 --> 0:13:54.640 regulates it, the I r S regulates it, Fence and 0:13:54.760 --> 0:13:57.000 regulates it, and on and on and on. But the 0:13:57.080 --> 0:14:00.120 CFTC and the SEC have been fighting over who is 0:14:00.160 --> 0:14:03.160 going to be the regulator of the crypto industry. And 0:14:03.280 --> 0:14:05.440 basically where we're at today. Gary Ginsler, who's the head 0:14:05.480 --> 0:14:09.120 of the SEC, has basically come out and said he 0:14:09.200 --> 0:14:11.240 hasn't written it down in black and white on paper, 0:14:11.280 --> 0:14:14.040 but he's basically said it verbally that anything other than 0:14:14.120 --> 0:14:18.240 bitcoin is a security. And they had originally kind of 0:14:18.280 --> 0:14:21.720 said maybe ethereum is not a security, but now that 0:14:21.760 --> 0:14:24.240 ethereum just went through this merge, he says that now 0:14:24.320 --> 0:14:27.080 it's probably a security. So don't get mad at me, 0:14:27.200 --> 0:14:29.280 don't shoot the messenger. That's Gary Ginsler, head the SEC, 0:14:29.400 --> 0:14:32.280 said that, so it looks like bitcoin might be the 0:14:32.440 --> 0:14:35.800 only one that is actually a commodity, and is it 0:14:35.960 --> 0:14:40.720 is regulated by the CFTC. CFTC so the chairman, Roston 0:14:40.800 --> 0:14:45.480 Benram said this week on Wednesday, he said, quote growth 0:14:45.840 --> 0:14:51.720 might occur if we have a well regulated space. Um. 0:14:52.480 --> 0:14:54.680 He told there was a fireside chat at New York 0:14:54.960 --> 0:14:59.520 University School of Law. He said, quote bitcoin might double 0:14:59.680 --> 0:15:04.480 in price if there's a CFTC regulated market. End quote. 0:15:05.080 --> 0:15:07.720 So he's saying that, look, if we could just get 0:15:07.760 --> 0:15:09.400 some clarity here, right, If we get this, get the 0:15:09.520 --> 0:15:11.960 SEC out of the way, let's clearly find everything else security, 0:15:12.080 --> 0:15:15.040 let's make bitcoin commodity. Will take it over. Um. If 0:15:15.200 --> 0:15:17.040 and if we can give it a regulated market, we 0:15:17.120 --> 0:15:20.280 think the price of bitcoin could double. Well, I think 0:15:20.280 --> 0:15:22.120 bitcoin could do way more than double. But that's that's 0:15:22.200 --> 0:15:25.680 his words. Um. He went on to say, So there's 0:15:25.680 --> 0:15:28.200 a bill, so by Bartisan bill introduced by the leaders 0:15:28.280 --> 0:15:32.600 the Senate Agriculture Committee, which oversees the CFTC, would crown 0:15:32.640 --> 0:15:35.880 the CFTC the primary regulator for the crypto industry, expanding 0:15:35.920 --> 0:15:39.600 the agency's authority to oversee crypto spot markets and require 0:15:39.640 --> 0:15:44.160 crypto trading firms to register with the CFTC. So there's 0:15:44.200 --> 0:15:46.240 this new bill. They're hoping that it goes through. If 0:15:46.280 --> 0:15:48.520 it goes through, it gives them clarity. If it gives 0:15:48.560 --> 0:15:51.440 them clarity, then they'll have the ability to oversee the regulations, 0:15:51.760 --> 0:15:53.680 which again back to his words saying that if we 0:15:53.720 --> 0:15:56.080 get clear regulations, then we think the price of bitcoin 0:15:56.120 --> 0:16:00.760 could double. Um. Now, look, I'm just gonna say a disclaimer. 0:16:01.440 --> 0:16:03.960 I'm not for any of this. Um. I believe that 0:16:05.320 --> 0:16:08.040 I live in America. I was born in a free country, 0:16:08.520 --> 0:16:12.480 land of the free right. Um, we don't ask for 0:16:12.680 --> 0:16:16.360 permission in the United States. Everything is free because we 0:16:16.440 --> 0:16:18.440 live in a free country. Now, they make laws making 0:16:18.520 --> 0:16:22.400 things illegal. So if there's a law specifically saying that 0:16:22.520 --> 0:16:24.560 something is illegal, then it's illegal. Right. So I'm not 0:16:24.600 --> 0:16:26.480 saying that we should go break the law. The laws 0:16:26.480 --> 0:16:28.280 are there. We have to honor those laws or we 0:16:28.600 --> 0:16:30.920 pay the pay the consequence for those The point that 0:16:31.000 --> 0:16:34.040 I'm making is that we don't ask for permission to 0:16:34.160 --> 0:16:36.000 do things. If there's a law, then we know there's 0:16:36.000 --> 0:16:37.680 a law. If there's not a law, then it's free. 0:16:37.840 --> 0:16:40.720 We're free to do that. So my father went to 0:16:40.800 --> 0:16:42.720 war force, my grandfather went to war force. All our 0:16:42.760 --> 0:16:46.520 forefathers went to war for So for them to say that, 0:16:46.880 --> 0:16:48.560 you know, things were probably better if we made some 0:16:49.200 --> 0:16:51.800 regulations around it, I just have a hard time believing that. 0:16:52.160 --> 0:16:56.160 I don't support that. Um. Now, the problem is, I 0:16:56.200 --> 0:16:58.680 guess some of these you know, Wall Street firms, UM, 0:16:58.880 --> 0:17:02.800 they're afraid to act because they're afraid if they do 0:17:02.960 --> 0:17:05.960 something that then later one of these regulatory bodies could 0:17:05.960 --> 0:17:08.800 come and change their laws retroactively and they could you know, 0:17:08.920 --> 0:17:10.600 get in trouble and have to pay fines or whatever, 0:17:10.840 --> 0:17:12.960 which is a problem. That's pretty stupid that you could 0:17:12.960 --> 0:17:16.359 have a regulatory body coming and make laws that aren't 0:17:16.400 --> 0:17:20.280 there and then retroactively put them in place. Kind of 0:17:20.359 --> 0:17:22.879 highlights how screwed up this whole system that we have here. 0:17:22.920 --> 0:17:24.280 Now I get it, like I said, if there's laws, 0:17:24.359 --> 0:17:26.000 you got you gotta respect those laws. But if there's 0:17:26.040 --> 0:17:28.320 no laws, then we should be free to do that. 0:17:29.119 --> 0:17:31.080 So the fact that we need a we need a 0:17:31.200 --> 0:17:34.400 new regulation to give clarity so that it allows people 0:17:34.440 --> 0:17:35.800 to make a move that they could then push the 0:17:35.840 --> 0:17:38.360 price higher. It's pretty messed up. But that's the world 0:17:38.400 --> 0:17:41.760 that we live in. It's his words, not mine. Stanley 0:17:41.800 --> 0:17:43.560 Dructor Miller thinks the price could go up by central 0:17:43.560 --> 0:17:47.359 banks lose credibility, which they are. CFTC says, if this 0:17:47.400 --> 0:17:49.080 bill goes through and gives clarity, we could see the 0:17:49.119 --> 0:17:52.320 price of bitcoin double. Bloomberg Intelligence says that bitcoin can 0:17:52.359 --> 0:17:54.919 move from risk onto risk off asset. Are you starting 0:17:55.280 --> 0:17:56.960 to see the light of the end of the tunnel. 0:17:57.080 --> 0:17:58.879 You listen to the Markmas Show. We're talking about their 0:17:58.920 --> 0:18:00.920 decentralized Revolution. I'll be back with that and more in 0:18:01.000 --> 0:18:03.000 a minute. Do not go away, I'll be right back. 0:18:03.560 --> 0:18:05.640 All right, welcome back. You are listening to the Mark 0:18:05.760 --> 0:18:09.400 Ma Show. We're talking about the decentralized Revolution, talking about 0:18:09.400 --> 0:18:13.280 the way the world is changing rapidly. You know, I 0:18:13.359 --> 0:18:17.000 think about I say it all the time. It's putin quote. 0:18:17.040 --> 0:18:19.639 I'm sorry, I'm not putin the other Vladimir Ladmir lenin 0:18:20.240 --> 0:18:23.040 that there's day there's decades where nothing seems to happen. 0:18:23.040 --> 0:18:25.200 In there's days where decades seemed to happen. And that's 0:18:25.240 --> 0:18:26.840 kind of where we're at right now. The world is 0:18:27.400 --> 0:18:33.639 literally burning down, crumbling down all around us. Maybe you 0:18:33.680 --> 0:18:37.159 don't notice, you know, Um, I just got back. I 0:18:37.320 --> 0:18:40.879 was in Mexico for about six days. I went and 0:18:40.960 --> 0:18:45.080 spoke at a conference down to Mexico City called Nomad Capitalists. 0:18:45.119 --> 0:18:47.919 About five people there at the conference, and they were 0:18:48.000 --> 0:18:53.240 all there to learn about UM international diversification, we'll call 0:18:53.320 --> 0:18:56.760 it that. So these five people went to Mexico City 0:18:56.800 --> 0:18:59.760 to attendis conference which I was a speaker there, UM 0:19:00.280 --> 0:19:03.640 to learn about international diversification. What does that mean? Well, 0:19:03.840 --> 0:19:06.080 what what what does diversification? So that means instead of 0:19:06.119 --> 0:19:09.320 putting all your money into one stock, that would be 0:19:09.359 --> 0:19:13.080 pretty foolish, you would diversify. So instead of putting all 0:19:13.080 --> 0:19:14.880 in one stock, I just spread my money around. I'd 0:19:15.080 --> 0:19:16.639 put a little bit into real estate, a little bit 0:19:16.640 --> 0:19:18.600 into gold, a little bit in stocks, a little bit 0:19:18.600 --> 0:19:20.800 in the bitcoin. And not just one stock, I'd put 0:19:20.840 --> 0:19:24.000 into multiple stocks in multiple sectors. Right, So that's diversification. 0:19:24.680 --> 0:19:27.320 So international diversiication is kind of the same thing, which 0:19:27.400 --> 0:19:29.560 is like I wouldn't put all my light, my own 0:19:29.680 --> 0:19:31.560 my money in one stock. Why would have my whole 0:19:31.720 --> 0:19:34.520 life in one country. Now, again, if you're in the 0:19:34.560 --> 0:19:37.159 United States, maybe you don't see this. If you're in 0:19:37.200 --> 0:19:39.439 another country, you probably see the need for this more 0:19:39.480 --> 0:19:42.800 and more. Remember, we move off of pain, and so 0:19:42.920 --> 0:19:46.320 these people came uh to learn about this international diversification. 0:19:46.440 --> 0:19:48.280 We're learning about all these problems, all these laws, all 0:19:48.280 --> 0:19:50.080 these things, all these financial situations that are going on, 0:19:50.240 --> 0:19:53.600 why you might want to diversify internationally. That means, you know, 0:19:53.720 --> 0:19:58.320 getting different residencies, different passports, setting up different corporations in 0:19:58.359 --> 0:20:02.360 other countries, buying parties are invested into other countries, things 0:20:02.400 --> 0:20:05.320 like that. And so these these five people were pretty 0:20:05.320 --> 0:20:07.840 tuned into what's going on. Obviously, they're paying attention and 0:20:07.920 --> 0:20:09.800 that's why they're there. They see the signs and they 0:20:09.880 --> 0:20:14.200 realize they should probably start making plans for this. But then, 0:20:14.359 --> 0:20:18.120 you know, just I was just thinking about the other 0:20:18.160 --> 0:20:21.000 people at the hotel. Um then my wife and I 0:20:21.119 --> 0:20:23.760 we took off from Mexico City, flew out to the 0:20:23.800 --> 0:20:25.680 beach at Porta Villarta, hung out for a couple of days. 0:20:25.720 --> 0:20:28.879