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Jay'sAnalysis
Introduction to Bitcoin: Michael Saylor, REAL vs FAKE MONEY, History of Fiat Economics (Free Half)
01:23:49
This is a half video - the whole video can be found at my site for subs. Today we discuss the economy, it's coming collapse (eventually) and the possibilities of the future. We need not be overly conspiratorial, in fact, it is necessary to figure out...
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A
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Foreign. Sam. Foreign.
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C
Welcome everybody. A little bit of fun before we get started.
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Quasimodo. Got lots of calling me on my mobile. Quasimodo. I got a natural flesh patch right there for my mobo. I live a life Quasimodo. My bitches be calling me Master Moto. You don't even understand. It's a floato float. When I get older, will I still have an after shoulder? Quasimodo. High school kids making fun of me. We call me Play Doh on this back part right here. This little part is Play Doh. Quasimodo. I'm up in my castle. It's very dank. I found her. I found her humpback chick.
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C
She was stank on it.
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Quasimodo. Looking for a Quasimodo. Quasimodo. You don't even know what it's like with a little bitty friend on your back like this right here. I got a little brother on my shoulder.
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C
Women's in the gates of hell. Women is in the sort of all evil women in the gates of hell in the source of all evil. Do you have what a baffle mat? That's amazing. Beta. Beta. The Quasimodo is a beta. Wow. Quasimodo a beta. You know, he don't never have sexual women's. He don't have nothing with women unless he find a. He found a hushback woman in the. In the dungeon with a baffle man in the dungeons. Women should social evil. That's a joke. That's the Internet's funniest slow black man heretic cult leader Jesse Lee Peterson. Anyway, Thank you. Welcome everybody. Today is going to be fun. It's not going to be too technical. I want to keep it simple. A lot of questions, a lot of requests for. Hey man, what's the introduction to help me understand what bitcoin is and where do I get it? What is it contrasted to all of these CBDC's? Fed coin, government coin, Gub coin, government cheese coin. So we're going to look at the basics today. We're going to go back and Understand, rewind to understand the basics of fiat currency, debt based systems. And then we're going to understand the solutions presented with what bitcoin is. And again, been into Bitcoin since 2017. I used to be a skeptic. So 2014, 15, I was like, this is some kind of a conspiracy trap, right? I had the attitude of a lot of goobers now who are way late and they have the attitude that it's all conspiracy.
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Everything's a conspiracy, dude. Everything is a conspiracy. They're trying to trick you, dude. Everything is a trick.
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And it's understandable why people think this because there are so many lies. However, not everything is a conspiracy. Not everything is a deception. Not everything is a lie. 20 years plus of being in this domain of alternative information and geopolitical analysis and so forth, I've been wrong many times. One of the times I was wrong was my early skepticism of bitcoin. Now I had people in 2013, 14 when Bitcoin was, I don't know, 100, 200 bucks, saying, dude, you got to get this, get a wallet. And I'm like, I don't know what you're. What is that? No idea where you're talking. What's a wallet? So I was not even, I was out to lunch, bro. I was mentally out to lunch over there with a soggy bun while people was over here getting paid, getting ripped, rich, whipped, witch. And well, while I was over there sucking on a, a wet hot dog bunny, trying to pay the bill, trying to pay the rent. Now had I listened to my friend in 2014 who said, Get a wallet and I'm gonna send you a couple bitcoin, which was again, a hundred, two hundred bucks at the time, somewhere in there. Didn't know what he meant. I kind of wish he had explained a little more about what that meant because I would have got a wallet and I got a wallet if he had given me, dude, to bitcoin, that would have been a free 140, $30,000, right? But as many of us know, we don't all figure it out right away. Sometimes we got to learn the hard way. I see a lot of people nowadays who are determined to learn the hard way for whatever reason, everybody seems to think they know it all. They got it all figured out. And as I get older, the more that I see where I was wrong, the more I, I think figure things out and the more I see more and more rash, bold and yet kind of dunning Kruger people just, just boldly going forward into IDIOCY and beyond. Like Captain or something. Okay, not Captain Picard, Captain Retard. Okay? To boldly go into domains of idiocy that no one else has gone to be foe.
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Engage.
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Engage. That's my Captain Retard I'm talking about. I'm talking about people flying directly to. To retardo Montalban's Epstein Diddy Island. Okay? I'm talking about Fantasy island with retardo muscle. So we're gonna answer those questions, Byron, all you guys, a lot of those basics. We're gonna try to answer those today. So why was I wrong about Bitcoin? Well, I was wrong because I had a really overly conspiratorial attitude in 2013-14. Everything was conspiracy, everything was, was a scam. And therefore nothing would ever trick me because I would never believe anything was what it was. Now I was, I was pro gold. I, I think I, I got wise to fiat currency and all of that in 2002. No, before that, I had a Protestant preacher who was wise to the New World order. He wasn't super sophisticated, but he knew what the new World order was. And he had a book. I swear I don't start coughing until I sit in here and start. I haven't coughed all day until sitting in here. Maybe this dust, dust in here from all the books. There's shelves over here, tons of books. I got tragic and hope out. Maybe it's all dusty. So I remember learning about money and gold. And it was a good book. Kind of basic Von Mises type principles that I learned in 2000, 2000. It was before 9, 11 that he gave me that book. S.L. mooney, I think was the guy's name. Let's see if that book still exists out there. SL I think it's SL Mooney. I'm remembering books from like. Gold money. Anyway, You can't. I guess books don't exist anymore. It's not this gold standard. I think it's out of print anyway. But it was basically, you know, good ideas about understanding, investing. And I was too unconcerned with that at the time to really think about putting money into gold, which would have been a pretty good idea in, you know, 2000. I mean, I wonder what goal was at 2000. Let's, let's take a look. What if I had put. I didn't make much money back then, but what if I put a little money into gold? Let's see what goals at 20 years ago. Now Gold bugs are all about some gold, which is fine. I'm not Dissing gold bugs. But okay, so we would have $400 to where we at now, 2,500. So that's a, that's a good 6x or so, right? 6 times 4, 24. So gold's at 2400 and back. Then we're talking 300, $400. I mean, that's a pretty good return in 20 years. But no asset has performed like Bitcoin. So let's get to the basics. Basically, the problem is, is we have to understand the problem before we understand the solutions. And gold was in many ways a solution for people who were able to house gold, store gold, you know, stack gold, etc. And gold really was kind of the inner currency of the elite for many centuries. The gold notes is the beginning of the problem. Not that it's inherently necessarily wrong to have a gold note because the purpose of the gold note was to make gold more viable as a transaction component. So you don't have to carry bags. You could. Well, here's the gold note that the government, you know, has promised or the big bank has promised here to, to back. So instead of carrying bars of gold and everything around, the idea became to use paper as a representation of the gold. The problem was that certain people figured out that if you were in charge of the gold notes, and this might be a government, it might be a bank, a private banker, it might be a government bank, could be all the above. Any possibility could happen. People figured out they could actually inflate the number of the gold notes beyond the one to one correspondence to the actual gold reserves. You see. So this temptation became so strong because you could eventually inflate the currency and start loaning out money and making interest on loans on vast sums of money for which there was nothing really backing up the currency. And over time, you're really just stealing generational wealth that you can then buy more gold with, you see, or other real assets, property, land, buildings, you know, precious metals other than gold, jewels, you know, whatever counts as a real world asset. And so Quigley, for example, if those, if you don't remember the first, say, 300 pages, maybe even 400 pages. Yeah. So when we get up into pages 300. 400. He's talking about the move away from gold standard to monopoly capitalism. He's talking about, he's already talked about the establishment of the bank for International Settlements, which is the Federal Reserve bank for the entire world, the bis, which I've. And this all follows upon his discussion of crazyflation and wild inflation, which led to the depression 310, 311. Okay, we're going back to old classic tragic hope Quigley stuff. But I got. I bet a lot of you don't remember or you've forgotten or you haven't read the fact that the book begins with discussing gold notes and money and the money power. And that's how we got to where we are. This for example, gold makes a up a large portion of the early chapters in discussion. And so the long and short of this is just what I said, that the money power and other state powers had figured out that you could leverage control through debt. And really the basic principle behind the fiat printing beyond the actual reserves that you have, it's just basically a way to scam people and to expand that scam beyond the existing time frame, the existing generation. You can put future generations into debt and you keep inflating the currency as you need because you control the issuance of the currency. And then it comes becomes very difficult, very kind of sus and shady. Because nobody actually knows how much gold is actually there, do we? Nobody knows how much gold's in Fort Knox. Is it even there? I mean did maybe Goldfinger went and stole it, right? I mean we've all seen Goldfinger, right? By the way, today we're going to be hopefully getting our money right. You get your money right, get it right, get it tight, get your money right. If you want to support the show, you can do so via the Stream labs link. Streamlabs link is right there. Now we have to understand all this to understand how we get to the solutions because you know, rewind to critiques the new world order. You've got John Birch Society back in the day, 60s, 70s, 80s. You got libertarian movements rising up same time frame. Ish. Ron Paul revolution in the 2000s, right. And it's all about a lot of what we're talking about. Well, we gotta end the Fed, right? Remember Ron Paul on TV all the time. It was on Alex Jones all the time. Well, I gotta end the fan. Well, I'd like to see the audit the fan now. And I'm just doing an impression. I don't hate Ron Paul. It's just being silly making an impression. I do impressions. Okay. I don't know if 20 year olds think that this is illegal, but no, people used to do impressions. It's just part of joking around. It doesn't mean you hate people. It's not illegal to do an impression. So there was a lot of push. In fact that was kind of Ron Paul's main plank platform and it makes sense because as quickly points out, that's really the essence of the control structure. Yeah, the system has control of media and they've got control of, you know, idiot politicians and they've got control of education and corporate crap, food and all this stuff. But all of that really hinges on this pivot, the central machinery of the fiat Federal Reserve system. And that's what occupies a gigantic portion of the first fourth of this very, very important book. So there we get the idea that essentially the vindication of a lot of the critiques of people that we're talking about, people like Ron Paul's critique, people like the von Mises people, their critiques of the fiat Federal Reserve, the Keynesian economics. Okay, Fabian, Socialist economics. The, the character of Dr. Quigley here is vindicating those people not because he's a conspiracy theorist, but because he's an apologist for the establishment. Remember, he thinks the hope, the two, the tragedy is the two world wars. The hope is the democratic capitalist system, the neoliberal economic system. That's what he thinks is the hope. And whatever in his mind, even though he understands this, this is all bound up with fiat debt based money. I mean, I don't know how that could, the hope being the enslavement of everybody for the banking elite. I mean, I don't, I don't know how he thinks that's hope, but I mean, he's a, he's a part establishment man, so that's why he thinks it's hope. The hope here is the hope that the elite can basically win, enslave everybody and get rid of everybody. All right? So that's the secret to money. That's the secret to the Federal Reserve. That's what Quigley says about the Federal Reserve, that it was the establishment of this kind of a monetary system. And it's really insidious because you have to understand it's not just a inflating of the currency beyond the hard assets and the reserves, okay? Because they were already doing that before the Nixon Shock Doctrine, where under Nixon we were off the gold center. They were already doing this inflation stuff for a long time. That's why a dollar, you know, in 1910 bought you, I don't know, the whole freaking saloon. And a dollar now buys you a Bubba Cola from the saloon, right? That's the loss of purchasing power. And you can only have that loss of purchasing power by this increased debt based enslavement system continually inflating the currency beyond the actual value of the things that are held now Once it went off of the gold standard after Nixon. This is the Nixon Shock doctrine as it's called now. The sky's the limit because there's even less attachment to real world assets. And again, this is all part of the theories of people like Keynes, what's his name, Greenspan even said, remember this, the famous interview with Alan Greenspan where he's like well we can just infinitely print the money, it doesn't matter, we can always print more. Remember that? And the interview guy, when he, when he said that, the interview guy was like what? The interviewer guy couldn't believe that he said that because oh, that means all the conspira towards have been correct on this point. Right. So the locus of the problem then, now that we've identified the problem again, is not just inflating the currency. There's a very perceptive, insightful chapter that nobody except. I mean I'm sure there's other analysts out there that do economics that have talked about this, but you guys have heard me talk about it ever since we did. Tragic. Nobody talks about how the FDR period, which was supposed to be the solution to the depression crazyflation debt, the crazy inflation crazyflation called caused the depression according to Quigley. Then FDR comes along and says aha, we're going to have solutions, giant public works projects. And my FDR style of Fabian socialism is going to solve the problems of the monopoly capitalists and their crazyflation and their speculation and their Wall street run amok. And it's true that the public works projects helped things for a while. However, Quigley says that the all the public works projects were funded by the banking elite and so it just put everybody else into future debt. So you have to understand that you're not just paying on the immediate debt and interest due on the debt. The future generations are indebted. And part of the reason for the boom bust cycle according to Quigley is that it helps to put the future generations into debt. And the boom bust cycle is maybe not totally controlled, but they steer it to try to have a boom bust cycle. So again we're back to this notion of are we at a system run by complete idiots who have no idea what's going on or do we have a system where it's cunning and there's a lot of foresight and very intelligent people who intentionally wreck systems to consolidate wealth and transfer it offshore, etc. I tend to think that while there are things do get out of hand and the elite don't, they're not Gods, they don't control everything. There's a lot more that's planned and strategized than the typical conservative thinks. Right? All these conservatives are constantly telling us that we're run by the boobs in.
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Washington if we go vote the rascals out.
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And then nothing ever changes and the overall technocratic agenda marches forward because of Konink. It's their fault. Konink never allows you to identify actual real world conspiracies, ever. They will always tell you that you're a tinfoil hat lunatic because they're paid to be there to do that. So you can never talk about false flags. You can never talk about the big nine. You can never talk about technocrats. You can never talk about any of the stuff that although the last three years should have shown everybody that's the case, you still can't talk about it. How many of the conning people talk about the Federal Reserve?
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Very few.
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Every now and then. I mean, at least Glenn back, back in the day would talk to Ron Paul and they would talk about Ferros. Okay, maybe that counts. I mean, I mean, I can't think of any other ones, right?
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Very few.
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And do these people even know? Probably not. You know what I mean? Bannon, okay, I don't listen a lot to abandon. I'm not, I don't, I'm not a Bannon hater. I just not familiar with a lot of what he covers. So if he talks about it, then that's another person. I don't, I wouldn't really classify him under Con Inc. Though. Like he's, he's definitely better than, I mean, you know, he supported Lord Voldemort, so he's definitely above these goobers like Walsh and Knowles. These people don't know anything. Right? That's what I'm talking about. I'm talking about those kind of people. Now I'm glad that Walsh and Knowles can talk about marriage and family, but it's like nobody can ever talk about, you know, the real issues. You know what I mean? And by the way, the Federal Reserve didn't go away, right? It's not like, oh well, Ron Paul's not on the scene anymore, so I guess the Federal Reserve is not an issue. No, it still is like this locus of control now. So keeping in mind then how this scam works, keeping in mind the chapters where the boom bus cycle indebted future generations, as Quigley says, how do we get out of this? What's the by the way? I think, see, I'm at the I'm at the F. The FDR chapter here. I was going to see if anything popped up. I think I have an old talk on this. If you pull up my old boom, bus, cycle talk, you'll get that history with fdr. And, you know, you got people who want to defend fdr. I'm not knocking like Matthew Ehrett would defend fdr. I'm not knocking Matthew at all. I just think that if you look at the way Quigley says it, like it was just kicking the can down the road. And the. The debt that was accrued under FDR was just for the next generation. So. And then they do the same thing after the wars, is that if you lose a war, I think it's the Dawes plan. Is that right? If you lose the war, then Germany, for example, has to pay off debt for the next 60 years. So the future generations are indebted. You see how that works? That's all part of this fiat system. Yeah. I'm saying. Okay, now, stepping away from Quigley, now that we've understood the basics of the Federal Reserve scam, this scammery kind of hit a high point in the 2008 housing crisis. And if you remember, I was at that time beginning to read more economic books. I remember reading Tom woods book, and it was a good book explaining the housing crisis because I didn't understand it and I was interested in it, and he wrote a good book on that. I read Henry Hazlitt's book around that time, and that was Rand Paul that recommended that. I said, ask Rand Paul what's a good book on economics that you'd recommend. He said, read Henry Hazlett. So I read his book, that introductory one. Forget the name of it. I read Peter Schiff's books at the time. I read some Ayn Rand books. I read a bunch of, you know, Mises stuff over the. Over that time period. This is like 2006, 7, 8, 9, period. This is like the Ron Paul height, right? So then we get the housing crisis in 2008 and how that big, you know, scam bubble popped. And then we got, you know, they talked about bailouts, right? Well, this really damaged the economy in a big, big way. In fact, they made, you know, these famous movies about this. If you remember the movies that came out about. I'm trying to remember. I didn't watch all these, but is it Margin Call? Was that one of them about the housing cry? Anyway, I think Steve Carell is in one of these movies. Anyway, so around this time, people from the Austrian Economic School. And I'm not. I mean, I have some criticisms of Austrian economics, but I think they also have a lot of good ideas. Yes, I did talk. I did see the accident that just occurred. So, I mean, I don't know what's going on, but yeah, I understand Peter Schiff is anti bitcoin. I'm talking about what I was reading in 2006. Seven, eight, right? Big Short. That's the book. That's it. Or that's the movie I'm thinking of. And Peter Schiff was really good at that time explaining what happened about the housing crisis too. Remember when Peter Schiff went down and he was debating all the people at Occupy and that was, that was, that was some fun clips because Peter Schiff got famous at that time because he called the housing crisis. He said there would be a housing collapse. Look for that. And he got a lot of attraction. Peter shifted a Google talk after that explaining all of this. And Ron Paul. Okay, I didn't remember. Ron Paul predicted it too, but that makes sense. Anyway, so, no, I'm not a fan of bitcoin Satoshi vision. It's, I mean, should be obvious after the recent court incidents what's going on there. So you had some people in the Austrian Economic School and some groups called cypherpunks online, sort of tech people. The allegation is, oh, they're all from the NSA now, people who work in government that set up their own businesses or do this or that or do their. It's not like every. Even if it was the case that people who were coders at the NSA created bitcoin or something like, it wouldn't necessarily mean that therefore bitcoin is evil. I mean, this is just a fallacy and it's a dumb argument. All kinds of things have come to us via people who worked with the establishment. The Internet itself comes from darpa. And I don't see the people bitching about bitcoin getting off of the Internet because the Internet's from darpa a trap. Now, ultimately, maybe the Internet will be the end of the world. I don't know. But for the time being at least it's going to be here and it's going to be being used for the foreseeable future, for the next 10, 20, 30, 40 years. They didn't build all this infrastructure to destroy it. Okay? It's not here to be destroyed. So we're not going back to Little House on the Prairie. So all the conspiracy people, goofballs that are talking about they're gonna shut everything down.
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It's gonna be 1850 again.
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Little House on the Prairie. No, it's not. I mean, short of something happening outside of the establishment control, like a meteor hitting the earth or something, But I mean, if meteor hits the earth, bitcoin and goal are. But neither one is gonna matter. Okay? We got other problems. Bigger, bigger problems than the dollar and the economy. So the idea was formed by people who I think were very intelligent, understood where we were going, and I don't know. Nobody knows who Satoshi is. It's a pseudonym, most likely for a group of people who are looking at ways to combat the 2008 economic collapse in terms of the housing market and crisis. And I think in the original Genesis block of the bitcoin, it's saved. It even says this, right? There's a message that was encoded into the original Genesis blog, which is the first block. Doesn't it mention the housing crisis or something like this? I'm trying to remember. Yes. Satoshi Nakamoto embedded a message in the first Genesis block which says the Times article of 2000, January 2009, Chancellor on the brink of second bailout for the banks. So this is mentioning the bank bailouts, which is basically just stealing from the people. So even in the first block generated bitcoin blockchain mentions the very thing that we're talking about. So this tells us that it was created. It's not the only thing. But this is one of the reasons that we're. That it was created was to combat specifically the problem, the 2008 collapse, and also to begin to work in on ways to solve man's monetary problems. A man's monetary problems go much further than just inflation or gold or something like that, but rather the history of monetary policy is governments and central banks having centralized control of something very fundamental to human beings, the ability to transact goods and services. And so if that's controlled by a central location. While there are at times advantages of centralization, there can also be tremendous disadvantages of centralization, particularly when it comes to the human temptation to greed and control, and particularly the outlandish power and greed that comes along with money printing. The ability to print the money, the gold notes that we talked about for tragedy and hope. So how would you ever solve this? Well, our founding fathers in America had some ideas about how to solve this, which they thought we got to figure out ways to not have that money printing centralized, not to have a central bank that's controlled by private interests. So they had different ideas. There were debates. Some of the founding fathers thought otherwise. And there was a big history of course, Andrew Jackson and others fighting against this idea of a private central bank. Eventually by 1913 as well, now we got the Federal Reserve act and we got this centralized private bank. It's not a government, it has a government title, but it's actually private shareholders. We don't a lot of this is secret. We don't even know all of what's going on. So again, obvious corruption here. Why? Why is the nation's money held by private interest private shareholders? It's all a bunch of shady secrets and that's all linked to an international post World War II bank for International Settlements. Federal Reserve of the World. That's a super duper secret that you can't seriously if you look into the BIS other than the official book that's written by it or what's in Tragine Hope it's very secretive now you can talk about it, it's a public thing. But what all is going on is secret. And this is just a domain then rife with corruption. And the answer of course is not to oh well, we just need communism if we just have a centralized government authority versus private bankers. Now you see how it's the same problem. The centralized government authority will have the same temptations as the private banker to do the same scams. And this is why very easily verified in history, that fiat money systems invariably go to zero. There's just too much of a temptation by the central banks and the private banking elite in various countries to continue to print their way out of their bad monetary policy. And the assumption is always that more government controls, more government centralization, more top down tyrannies and and enforcement and laws will somehow fix a problem that's actually rooted in human fallibility, frailty and greed. So it kind of seems like there's not much of a way out of this kind of a problem. We could return to gold, but the problem still remains of it's not very feasible for everybody to be carrying around sacks of gold like we're down conquistadors. Okay? I'm not a V lace over here. I'm not John Juan Capistrano or he's a Roman Catholic saint. I'm not freaking Captain Jack Sparrow over here. Captain Jack Sparrow, right? Javier Bardem fighting Captain Jackson. I mean we're not going back to freaking 1600 seafaring, you know, Tortuga, all right? We're in the future, right? We're already in Buck Rogers future. We're not going back to 1800s or 1600s. So we're not gonna be carrying freaking bags of gold around like Peter Shif. Thanks. So if we return to gold, we seems like we're going to be back at the problem of although a gold hard currency might still be, it would be way better than what we have with fiat. The problems are still there with centralized power, controlling gold flow, controlling gold production. Also, it's very difficult to test and know if everyone's gold that they actually hold is gold and not gold with tungsten. This is a very common thing. This happens quite a bit where gold is lined with tungsten, which is a way to cheat. So how do you. I mean, what are we all going to have would become we're all going to be metal or just an alchemist? We're going to test all of our gold out. I remember buying a gold chain one time years ago from an Iranian dude. That was a mistake because it was like, not the quality that he said, okay, I paid like 700 and it was like a 200 thing. Okay, so the Iranian dude jit me, well, what am I gonna do? Am I gonna bite on it like a cartoon character? Well, that doesn't work because guess what? I did that. I bit the damn gold and it was soft. So I thought, well, he's got to be telling the truth. But it wasn't the carrot that he sold me for it anyway. So, look, it's not that gold is bad. Gold is a great asset. It's always going to have value. Humans are never going to stop valuing shiny things that come from the earth, whether it's rubies or ruby slippers or gold chain. Gold all over my chain, gold all over my watch. Don't believe me? Just watch. Okay, but there's a lot of problems still there with gold when it comes to a national and international currency. Because also, let's say we want to make gold international currency. Well, we're still stuck with this problem of centralized banking powers and governments controlling gold flows. And if I go across a border to get away from a government that say, wants to seize my gold. And by the way, do you. Are you familiar with Executive Order 61? Is it 6102 or 6120? Oh, yeah, your boy FDR. Remember when he confiscated everyone's gold? What? 6102? Executive Order 6102 requires all the persons to give up your damn gold. May 1, 1933, by the way, is an interesting date too for a Fabian socialist or a socialist. May 1st isn't that Mayday? Isn't that the communist holiday? Okay, we're not talking about the pagan. We're talking about Mayday in that com. Commie Day. I forgot that he. He did that on. It's International Workers Day. Yeah. So that's like communist Communist day, Right? So. Damn, Fred Roller rollerblades. FDR is over here trying to. Trying to steal over. He's trying to be like Trinidad James over here. Gold all over my roll. Gold all over my wheelchair. He's pimping out his wheelchair, rolling it. He's got some damn gold rims on that wheelchair. He's like, I just stole all these dummies gold. They just handed it. Oh, but you got $20 of federal reserve notes. Now. This says May. This says April. He signed it on April 5. But you had to turn it in by May. By May 1, all persons must deliver their gold to the government. What in the. Could you imagine? Like, this all. Look how freaking corrupt and dumb. Just. Is it the people or the government? I don't know who's dumber here. Actually, it's not. The government's not dumb. The government's freaking crafty as hell, dude. So they just basically said, you're aiding the enemy if you don't turn. Look how this. How corrupt that is, dude. Oh, give me all your gold or you're aiding the enemy. What? Wonder how much money they got from this. The reason for the why they did. What's the rationale? Well, the reason was that the depression caused people to hoard gold. And the gold owners were causing the depression. No, not the freaking private central bank, not Wall street scammers. The public was holding gold and causing the depression to worsen. Now, people think, by the way, that there's some good bitcoin channels to discuss the possibility that the government might try to do this. And the way the government would try to do this would be the exchanges. Okay, so if this were to occur where. When dum dums in the government finally figure out that bitcoin is a solution to their scam. I'm talking about the government layer. I mean, there are people who are smart who are figuring this out now in the corporations, but a lot of the government people like Elizabeth Warren, right? She's like, so boomer. She has no idea what this even is. A lot of these boomers at the government level, like, they don't even know how to pronounce it. Do get dogecoin. People are betting on dogecoin. Anyway, so the rationale is that then there might be a 6102 decision. Oh, we're gonna see. But the way that they would go about that would be large exchanges. We're gonna seize those because people are damaging the economy by buying bitcoin. That's what they're gonna say, right? There's a good likelihood they'll say something like that. And that would mirror FDR6102 attempt to take everybody's gold. So notice that whenever, when, when the system fails, who do they blame? The system? The elites? No, they blame the people. And the people have to pay for the scammers and the con men in the system when they get, when their system implodes due to their own internal corruption. You see, by the way, you guys can support the show via Stream labs. And yes, this of course means that you should not store or house bitcoin on your, on an exchange. And we'll talk about a little bit that in a minute. A little bit about that because a lot of people been asking me this lately. What do you do now? I believe that you should have cold storage eventually. Because we've gotten to the point where we have moved out of the phase of bitcoin being a totally a speculative thing. So you know, 20, 17, 18, 16, 17, 18, we were still very speculative, even 1920, 2020. And then around Koof, interestingly, bitcoin started getting a lot more attention. I think we started moving out of the phase of this being a speculative gambling asset into, oh, wait a minute, this actually has real world value because we might be able to store our value in the face of rampant government money printing during the coup, during the Biden administration, etc, etc. And so maybe this is an off ramp from the legacy system. Then bigger players started figuring this out. Now if you've been in the space, you know, like we have four, six, seven years, for a good while, you can pat yourself on the back because you, you were able to front run, as they say, the big players. So notice we were here, we front run, we were able to front run the biggest corporations and players in the world. The hedge funds, the, these, these big boomer asset manager allocation outfits like BlackRock and Vanguard. Even Michael Saylor, who you can tell is a very brilliant engineering minded person, I mean he didn't get into this until 20, 19, 20. Right. So we were years ahead of even Michael Saylor and all of these big, big tech firms. So what finally convinced me of all of this, as we said, was first of all, understanding all the history that was in tragic hope, understanding the basics of Austrian economics and von Mises and all that stuff, understanding the scam nature of our system and then realizing the value proposition that is Bitcoin. So now we're going to get to that part, which is understanding, well, how does then does this thing solve a lot of these problems that we've mentioned and how does it even transcend what we have with gold? Well, the idea was we're going to need to create a thing that is decentralized so that it's not controlled by a CEO, it's not controlled by the government, it's not controlled by a central bank. There's no Bitcoin office that you call. So it has to be sufficiently decentralized. What that means is that it's going to be run through nodes that are spread out and the more global the better. Because if one government tries to shut down the nodes or to try to shut down bitcoin miners or whatever, there's enough in the rest of the world that it's not going to work. Right? So you might shut down this part, but as long as it's existing out there, as long as the ledger is still stored, which it's stored publicly, then there's really no way to shut down Bitcoin. There's no, you know, like office you go to, to like turn it off or something. You don't flip a switch with a lot of the other cryptos that are really heavily centralized, they can be shut down or they can be rug pulled, etc. The other thing is that inflation, we need a hard asset that's not like the gold notes or like the paper, that's detached from real world value and assets. We need something that can't be just sort of inflated. There's got to be something hardwired into the code or into the system by which the rewards are paid to the miners and the, via the, the, the fees and via the housing. But also eventually this would decrease to where it would, it would never be inflationary. So there is a bit of an inflationary element to Bitcoin, which is the what's paid out to the miners. But that ends because there will only ever be 21 million Bitcoin, ever. So that makes it the hardest asset ever because you can never inflate it. You can't arbitrarily add new Bitcoin to the system other than the limited amount that will ever, ever exist. Okay, so there is a determined time period where this Bitcoin is paid out to the miners, but that eventually ends after the last Bitcoin is mined, you see. So mining is another way to speak of processing the transactions, which takes a lot of power and a lot of energy. But that's why it's a decentralized network. Decentralized through, I think. I'm not sure if anybody knows for sure, but it's something like 10,000 nodes, I think at this point. So that's a lot of power, it's a lot of energy, it's a lot of decentralization. But the value proposition lies in the ability to store value outside of human manipulation into math. And this is what's so revolutionary here, is that you could say that gold or gold coins store value in a sense, by the way that people value the gold coin. I mean, gold is really just, you know, a type of metal that is similar to other metals, but it's valuable because humans value it. But also it has utility. And it's pretty and so forth, it's shiny. And so if you can go above and beyond that to have something that has a better utility, and that's a harder asset because remember, you can always potentially mine more gold. So even gold is more inflationary than Bitcoin. That's why bitcoin is a harder asset than gold is. But it also transcends a lot of the limitations of gold in that, for example, if we think about value, right, everybody typically thinks of value as something restricted to dollars or something like that. Value is had in all kinds of things. For example, if you value a song, you, you value in a sense the MP3 file that you have of that song. So you don't have necessarily a tangible physical version of the song. You can have that with a record or record player or whatever, or a CD or whatever. But you can also have a non tangible file, you know, Internet ether version of that. Think about your photos. You put your photos on Instagram or Facebook or whatever. And so what has value? And I'm not a fan of Facebook at all, but I'm saying Facebook has quote, value as a publicly traded company, not just because of all the data and the data mining and all that, but it has value because people find value in the network. To have a network that allows people to communicate all over the world and to share data and information and pictures and to store their pictures and to put them up. Tremendous value. That's why it's a gigantic zillion dollar company. Now, I'm not a fan of it at all, but I'm saying that's why it has value. Okay? So don't think of restricting value to the way boomers think of it ain't money if I can't touch it. Oh, really? Do you use your banking app on your phone when you wire transfer money? Are you touching anything other than your freaking phone.
- [60:24]
B
Value as I can touch it?
- [60:27]
C
And then you're mad when your Facebook profile gets hacked. Well, can you touch your Facebook profile? Okay. Does it have value to you? Apparently, because you're mad about getting hacked. So obviously, value is not limited to this idea of physicality. Now, I'm not against physicality. And there's different ways that. I mean, there used to be sort of ways that people could, you know, exchange bitcoin via paper notes. And I mean, that's possible, but it's also not very practical. And it's kind of with the immense value that bitcoin is getting, it's. It's less practical to utilize the. The paper printing and also the websites that would allow you to put your address onto a piece of paper or a paper note. Some of those addresses and websites are scammy and they're phishing sites, and they'll steal your bitcoin. So even the bitcoin, a lot of Bitcoin ATMs are kind of like, I went to a Bitcoin ATM around here. There's a bunch. And one of them that was kind of sus. They were like, they were trading and offering you to cash out if you wanted to cash out for, like, the price from, like, four days ago. And I'm like, why would I Want to pay 4 days ago Price, which was like, way low, when bitcoin went up several thousand dollars today? Now, I wasn't actually wanting to sell bitcoin. I wanted to test out and see how feasible Bitcoin ATMs and whatnot were. That one wasn't. The other one that I went to another store had, I think Walgreens. Walgreens now has a lot of these, and they have the Liberty app where you can sort of buy and sell bitcoin via cash if you wanted to. But it's also still not really that feasible. I mean, it's nice to see these everywhere, Bitcoin ATMs. But we. It's. The game has got to step up because this is always still kind of just. It's kind of a hassle. But here's the thing. The government is making it, I think, a hassle. The system is making a hassle. Because even in 2017, like, when I first tried to get into this, even my bank was like, you can't buy that. I'm like, what are you talking about? So you're having to interact with these idiot boomers, have no idea what you're talking about, what this is. And they think it's illegal, which is not. And so, you know, never been happy with my bank for that low tier, low IQ idiocy on their part. I had to insist multiple times over, make many calls, talk to a lot of different people. No, I can actually buy this. It's not illegal. You guys just don't know anything. So back to the issue of hard currency. I don't think we're going into a situation where we necessarily will be needing to have physical cash. I'm not saying that it's good that cash is going away because a cashless society is what the system wants for the purpose of taking us to the cbdc. Okay? So the problem isn't cashless. And remember, if you understand the problems of fiat currency, cash itself is really doomed. The US dollar, cash, I'm saying now, I mean, if we were on some other system where the dollar was pegged to gold, then cash, the US dollar would not be that bad. But it's not, okay? So it's only as good as the faith and belief backing it up. And as long as the system, while the system is printing it into oblivion. I mean, has everybody looked at groceries lately in the last year? Right? So like, obviously this is not working. And obviously the dollar will go into the same dustbin of history as every other fiat currency has. Okay? America is not magic. There's no magical protection of America.
- [64:36]
B
What can happen to us?
- [64:37]
C
We're America. Oh, right. So because you're America and every other fiat currency goes to zero, you won't. Makes no sense whatsoever. So, so there has to be an off ramp. And I'm saying that this is literally the best and only off ramp that I can, can feel confident in. Even more confident in gold. Because I mean, again, think about the possibility of if you had to be on the run and you know, they'll say the government wanted to confiscate gold and Bitcoin. Now you can store your money. This is the other ingenious element of this. You could store your whole thing, your whole bank account in your mind. That's crazy. So you understand this is next level stuff. You could store this in your mind. You, the government says, you know, you're in the line to hand in your, your gold and your assets in a 6102 attack. And yeah, you know what? There was a boating Accident. I had bitcoin on a laptop, lost that laptop, you know, but you remember your seed phrase? You see what I'm saying? That's the genius of this. Now not everybody's gonna have to be in that scenario, but that's just one of the ways in which this is so genius and why it's such a powerful thing. And people say, but it's not totally public.
- [66:17]
B
Or stop. Totally private.
- [66:19]
C
It can't be totally private because the ledger needs to be public to remove the element of lack of trust. So another problem in transactions in the history of economics is the problem of trust. You're having to trust Joe Biden and the Federal Reserve people, John Yellen or whoever it is, you're having to trust Alan Greenspan, you're having to trust the banking elite, the Federal Reserve, you know, system. And then there's all this trust involved in going into business with a bunch of dang crooks. So you need a trust less system based on objective math. That's the genius here. Remove the criminal element, make everything based around objective principles of mathematics. That's another great value proposition to make this much better than even having to transact with dollars and banks with gold. And even with gold have to trust that you're not going to send me gold bars made of tungsten. And when I figure out there's tungsten, you've gone to another country and I can't find you. So I need a peer to peer thing without a middleman, without a friggin bank. Oh, that's called Bitcoin. You know, I could just give you Bitcoin. You see this right here, you can transact by this QR code. Support my show via Bitcoin. Right here you can go boop boop. You've sent money without a bank, without a third party. That's huge. Don't you see how revolutionary that is? That's beyond even things like wire transfers which require international swift payment systems and all this stuff. That's beyond banks. I'm gonna send you money from my bank app, Zelle. Now you're relying on Zell and all these other things. You could just send this directly to.
- [68:22]
A
Here.
- [68:24]
C
Wallet to wallet, no banks needed. In other words, when people figure out what this actually is, this means eventually banks are not needed and most of the world has not figured this out yet. Do you see how crazy that is? When people figure out that this is the answer to the problem of banks, central banks, banks aren't needed anymore. Now there might be still credit unions and there will be People who set up systems of loaning and so forth that can exist with anything. People can set up systems to loan Bitcoin. I'm not saying that you should do that. I'm just saying that banks and unions don't necessarily have to go away. What this is and what this represents is the possibility of a future international world reserve currency. Now notice I did not say an international payment system per se because as Bitcoin becomes more and more valuable, it probably won't be the like day to day small transactions, right? It could be. If the full GDP of the world ends up on a Bitcoin system then at that point, yes, you could basically have, you know, a penny being the equivalent of a satoshi or something like that. There's different people who've done stats and math and whatever to figure out exactly what satoshi you would get to to equal a penny or whatever. But there might also be other things that could be based or tied to bitcoin, right? You could have like a dollar that's based on. I mean if the US government was smart, they would begin to hardwire and attach the dollar to Bitcoin or something like that. I don't know. There's possibilities. It doesn't mean that Bitcoin has to be every transaction. It could be the, the base layer for the world's currency because it would be the only thing that individual governments and elites and banks can't totally destroy, totally inflate, totally control. You understand? There's literally nothing else that can compete with this. There's no other options and bricks. I mean, okay, maybe that's being set up in opposition to the Anglo, Atlanticist, American etc power structure and banking system. But if it's all going to be based on fiat currency as well, it's, it's going to be doomed to the same problems. So how is it going to be any better unless they have this thing which is the solution to so many of these problems. Now think about store value again. And when I mentioned this on Timcast, there's all these idiots in the comments. Like you think people are going to be using Bitcoin to buy hamburgers on day to day transactions. No, it doesn't have to be that. I said a future world reserve currency for the store of value as a base layer. Okay, I didn't say just like the dollar is because the dollar functions now as a, the world's, you know, the petrodollar will reserve currency because that's going to go away eventually. I don't know when but it will, because every fiat based system goes away. They die. It's too fragile and too liable to all of the typical human traits of greed and corruption. So the only way to do this is to remove the trust element, to remove the third party element, to remove the government private banking element, the manipulation fiat printing element. Removing these elements, what else is left? Gold isn't good enough. So what do we need? We need something international. Something is based in math and in the ether. So you think of this more like neoplatonic money and it starts to make sense. Think of it as an engineer. Think of it as a way to store value over time without energy loss and drainage. Does that make sense? That's precisely the way that Michael Saylor finally became convinced of it as an engineering dude because he was coming out of Air Force and doing a lot of, you know, tech engineering type stuff. So he was used to thinking of that in terms of thermodynamics and energies and, you know, energy loss and all that. And we can come at this from a philosophy perspective to understand it, to understand energy and energy loss and think about the debt based system of usury fiat banking. That's an energy drainage sucking sound, right? That sucks away the energy of the people and their product and their value. And so this then comes in as a solution to where the value can be stored over time and it can't be manipulated because the value is tied to math on a network. Do you see the value proposition in that? Do you see how valuable that is? That is a genius, mega genius level solution to so many problems. And it's not totally private because the ledger has to be perfect, but it's not totally public because nobody knows necessarily whose wallet is whose. That's why bitcoin wallets generate new addresses for every transaction. That's part of the built in security features of bitcoin, is to have that, that feature of a new address for every transaction. So again, if you want to support my work, you can do so by this right here. This is the QR code for supporting this show by via bitcoin. Anonymous is for $5. Let. This is late, but this is a super chat for this feminist rapper. Oh yeah, we got to take a little bit of a break right here to remind y'. All. Equal rights for women, right? Y' all heard that Big. Y' all heard that new, that new track that, that, that done dropped from Big Grift. Yo, that track was fire.
- [75:21]
B
Equal rights for women. Equal rights for women. I'm a rapper. That's a feminist all these women, they got too much dist. So here's some arguments in favor of feminism foreign. Equal rights for all. Yo yo. Feminism fights against the discrimination and advocates for equal rights opportunities and treatments regardless of gender. Women deserve equal rights and justice just like men. That's why I equally spray this the club everybody gets $1 let me hear you holler Equal rights for women. I'm a feminist rapper. Yo, what was you saying? Feminists ain't got no booties. That's a stereotype. Listen, this the kind of beat to be coming out the stereo. That type, you thought the women could just type like a secretary. That's a stereotype and that's racist. Equal rights for women. Equal rights for women. I'm a feminist rapper. I'm promoting equality and fairness. Every woman needs to be at the height of 4ft and 5 inches. Every woman should get their toes and feet cut off browser here.
- [77:03]
C
This is equal height for women.
- [77:06]
A
Much vaunted, much sought after. Philosophy 101. Now he just got this page up. We are just testing it out. You guys are some of the first people in the world to see it. I want to say for my part, it's not philosophy 101. I think this is a mistitling. I really think is as like philosophy Unleashed because a Philosophy 101 course, they give you kind of some useless information that you can't make sense of. Jay actually lays out over 12 weeks, dozens and dozens of hours put into just the presentation of this, let alone the hundreds and thousands of hours of research research that it takes to have a coherent evolution and history of the origins of philosophy, the uses of philosophy, the different ways to look at it over time and how that has been brought about to what we have today, which is almost an absence of philosophy on the objective logic and reason side and an overabundance of woke philosophy that is irrational is made up day by day as people are like, I think we should bring racism back. And then here's a justification. And then it gets wokeified and spread out and then all of a sudden you have a bunch a bunch of communist socialist ideas where you become the property in action. You need to be able to stand your own ground. It helps to have a foundation in philosophy because it's a method to find truth when you get down to it. Philosophy is there because you love truth enough to go and learn how to find it because it's valuable. So if you're interested in things like that, there is the landing page. We'll link it up in the notes. It is a longer one so we'll get a shorter URL for this. I'm sure Jay has a link on his page. I just wanted to show it off. Now you know it exists, you can go look for it and see why this is not your father's philosophy, right? So well done. I'm proud of everyone who helped to produce and edit the course. And of course Jay did a flawless job in presenting the course over those 12 weeks. And he's a juggernaut. He's another guy just like John Bush, in action all the time doing something productive like very little wasted time in his week. Those 168 hours of being harnessed. Very well. I want to show off something that.
- [79:11]
C
We'Re all proud of.
- [79:12]
A
I got a browser here. This is Jay Dyers much vaunted, much sought after Philosophy 101. Now he just got this page up.
- [79:22]
D
I'm going to put you on something crazy real quick. Most of these Zoomer Gym bros are consuming macro guzzling synthetic dyes and synthetic sweeteners on the daily. They don't even know it. Goofy af. There's nothing great about that. Do not listen any further unless you are an Alpha or Sigma male. This is important and there could be consequences. There's a new certified Sigma Male Pre Workout powder for Sigmas only. It is guaranteed to empower you to dominate your co workers, fire your boss, aggressively gamble or invade a small village. Chad Mode stands out from the crowd by excluding artificial flavors, preservatives, sweeteners and dyes. We've even avoided so called natural flavors which are actually not natural at all, ensuring a clean and effective formula. Experience the pure goodness of Chad Mode colored with organic blue spirulina extract, organic lemon, cherry and organic maple crystals. Forget synthetic caffeine made in a sketchy Chinese lab. Embrace the natural power of organic green coffee bean extract which will get your mind going and pump you up to the max. Chad Mode is made in America with all clean ingredients, the first clean pre workout of its kind. Why are these people adding synthetic sweeteners to every single pre workout when there are many studied downsides to consuming nasty fake sucralose? Each dose of Chad Mode contains the kick of a cup and a half of coffee, delivering a surge of energy alongside essential vitamins, minerals, amino acids and herbal extracts. Chad Mode will allow you to fire your boss and dominate anyone who opposes you. Chad Mode will make you more dominant in your daily life, so proceed with caution. It's as simple as mixing one or two scoops of our fine powder into water or juice, providing you with a delicious, energizing beverage featuring a burst of sweet organic fruit flavor. Chad Mode will give you the extra edge you desperately crave. Don't miss out. Secure your supply of Chad Mode on TikTok. Shop with a limited time, massive discount, elevate your workouts and supercharge your days.
- [81:34]
C
All right, welcome back. Everybody's always mystified when we see that. When they see that Chad mode. Look, we ain't playing games around here. You know what I'm saying? We playing games. We ain't playing games. We playing games. Look, get on over to chat to chalk.com and get that Tonkat Elite right there. See that? That's my favorite. I take it often. That will boost testosterone. Chalk.com choq.com the best supplement company out there. They are a great based chad company. What other company would create Chad mode? Exactly. Get on over there and get this performance stack right here. It will help you boost not just testosterone, but also your energy levels. All of those great products over there are 44 off. When you use the promo code J44LIFE. That's J A Y44L I F E. J A Y44L I FI E. So that's how you can support me. Yeah. This channel has been demonetized since 2018, so the way you support the show is by super chats. Super chats are done through stream labs. Bobby C, for example, since 50 bucks. And he says, shout out to my boy Bobby C with that big fat super chat. Thank you so much. He says, I started my way back to the faith. I'm now inquiring into orthodoxy. Your work was a huge influence on my decision. Thank you. Hey, dude. Love to hear that. Bobby C. That's really awesome. And I hope that you find a good place, a good church. I hope that goes well for you. Varella the second since $10, do you have any thoughts on Economics for Helen by Hilaire Belo? I read one book by Hilaire Bello back in the day and I think he was critiquing like Monopoly, capitalism and eugenics. I'm trying to remember the name of that book. I read that back in, like, I read that around the time I was reading some of this, you know, Ron Paul type stuff, some of this Tom woods stuff, maybe 2006, 7. I forget the name of that book, but I thought it was a pretty good critique of like, scientism and social Darwinism, that type of stuff. Isn't that what's in that book? I forget the name of it, but no, I've not read this book. His take on economics. Now, I'm assuming, going from memory, that he's probably more of a distributist. Is that right? It's been forever since. Since I've looked at.