XRP Ledger Gets a U.S. Treasury Fund — RLUSD $500M TLV

Summary

Podcast Summary: "XRP Ledger Gets a U.S. Treasury Fund — RLUSD $500M TLV"

Podcast Information:

• Title: On The Chain - Blockchain and Cryptocurrency News + Opinion
• Host/Author: On The Chain
• Description: On The Chain delves into Blockchain and Digital Assets, providing cryptocurrency news and opinions with a particular focus on XRP. Catering to both newcomers and veterans in the digital asset space, the podcast prides itself on delivering high-quality, fact-based content without hype. It serves a global audience, fostering a community-driven platform that addresses the latest developments and research in blockchain technologies.

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Episode Overview

• Episode Title: XRP Ledger Gets a U.S. Treasury Fund — RLUSD $500M TLV
• Release Date: June 21, 2025
• Hosts: Jeff and Chip
• Main Topic: The recent acquisition of a U.S. Treasury fund by the XRP Ledger, specifically focusing on the RLUSD’s $500 million Total Locked Value (TLV).

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1. Introduction to the Main Topic

The episode kicks off with Jeff introducing the central topic: the XRP Ledger securing a U.S. Treasury fund amounting to $500 million in RLUSD TLV. He poses critical questions about the legitimacy of the news, its lack of widespread discussion, and its potential impact on the cryptocurrency landscape.

Notable Quote:

• Jeff [00:00]: “Today we're going to talk about the XRP ledger getting a US treasury fund. What is all that about? Is it for real? Why aren't that many people talking about it?”

2. UK Policy Summit and Ripple’s Strategic Moves

Jeff and Chip delve into Ripple's recent participation in the UK Policy Summit, emphasizing the UK's ambition to become a global leader in digital assets. They discuss the UK's draft legislation aimed at establishing a new regulatory framework for crypto assets, which includes stablecoin issuance, custody solutions, and digital security sandbox initiatives.

Key Points:

• Regulatory Framework: The UK’s HM Treasury has introduced draft legislation to create a robust regulatory environment for digital assets.
• Global Standards: Recommendations for the UK include building a growth-driven framework and leading global standards in advanced stablecoin adoption.
• Digital Bonds: Introduction of a pilot program to issue digital UK government bonds, known as DIGIT.

Notable Quote:

• Jeff [10:03]: “Trying to get it there.”
• Chip [10:04]: “The FCA from the from for years. I mean they should have a pretty good head start.”

3. Stablecoins and the Genius Act

The discussion shifts to the role of stablecoins in the current financial ecosystem, particularly focusing on RLUSD's integration with XRP Ledger. Chip highlights Ando Finance's acquisition of short-term U.S. Treasury funds to bolster RLUSD's transaction volume.

Key Points:

• Ando Finance’s Involvement: Ando Finance’s acquisition of a $500 million U.S. Treasury fund to support RLUSD.
• Genius Act: The importance of stablecoin legislation for providing regulatory clarity and facilitating transactional operations.
• Liquidity and Security: Emphasis on the liquidity provided by U.S. Treasury bonds, ensuring stablecoins remain backed and liquid.

Notable Quotes:

• Chip [13:59]: “... stable coins, you know, they're ratcheting up quickly and...”
• Jeff [15:26]: “I kind of, you know, stand with that. I don't, I don't see that, that bonds are, are strictly based on or a failing structure.”

4. Tokenization of Assets

Jeff and Chip explore the concept of tokenizing traditional assets such as real estate, securities, and collectibles. They discuss the potential benefits, including enhanced financial inclusion and fragmented ownership, while also addressing the legal and infrastructural challenges that need to be overcome.

Key Points:

• Primary Use Cases: Financial (tokenizing securities), Real Estate, and Collectibles.
• Challenges: Legal ramifications, clarity in regulations, and ensuring tokenization platforms are secure and reliable.
• UK’s Progress: Speculation that the UK might be further ahead in tokenization due to its proactive legislative environment.

Notable Quotes:

• Jeff [12:15]: “... we need to have the stablecoin legislation for regulatory clarity to allow a lot of these transactions to occur...”
• Chip [12:34]: “... tokenization is being trialed. We're definitely not yet at a tipping point.”

5. DAOs and Legal Frameworks

The conversation transitions to Decentralized Autonomous Organizations (DAOs), with a focus on David Schwartz’s recent comments. They discuss the importance of legal structures for DAOs to protect individual members and ensure compliance with existing laws.

Key Points:

• Legal Protections: Importance of establishing DAOs as LLCs to prevent individual liability.
• David Schwartz’s Support: David Schwartz acknowledges the need for legal frameworks to support DAOs effectively.
• Governance: The balance between decentralization and necessary centralized oversight to ensure DAOs operate within legal boundaries.

Notable Quotes:

• Chip [26:36]: “David Schwartz understands right away this is a legal protection. There's a reason you have to do that.”
• Jeff [27:37]: “... you have to follow a legal framework especially if a DAO ends up giving, you know, profits back to the members.”

6. XRPL Activities in Asia: Japan and Korea

Jeff and Chip highlight Ripple’s expanding influence in Asia, particularly in Japan and South Korea. They note Japan’s initiatives to engage newcomers through educational tracks and Korea’s high cryptocurrency adoption rates, especially XRP.

Key Points:

• Japan: Launch of educational tracks and real-world tokenization marketplaces on XRPL.
• South Korea: Significant crypto adoption, with a large portion of the population invested in XRP.
• Youth Engagement: Emphasis on engaging the younger demographic in these regions to foster long-term adoption.

Notable Quote:

• Chip [20:51]: “It's pretty cool.”
• Jeff [21:00]: “... they have a large percentage of population that isn't...”

7. Political Commentary on Crypto Legislation

The hosts discuss the broader political landscape affecting cryptocurrency legislation in the U.S., touching upon the Genius Act, midterm elections, and the need for clear regulatory frameworks to advance the crypto ecosystem.

Key Points:

• Midterm Elections: Anticipated impact on crypto legislation and stablecoin regulations.
• Legislative Process: The Genius Act has faced modifications in the Senate, creating uncertainty about its passage.
• Stablecoin Importance: Stablecoins are viewed as foundational to the next steps in crypto infrastructure, making their regulation crucial.

Notable Quotes:

• Chip [17:34]: “... it'd be interesting to see the Genius act bounce back to the House.”
• Jeff [19:20]: “... without that, you can't go to the next step...”

8. Community Engagement and Side Discussions

Throughout the episode, Jeff and Chip engage with their community, addressing comments, participating in lighthearted segments, and incorporating playful elements like "yeti" competitions to foster a sense of community.

Key Points:

• Community Interaction: Engaging with listener comments and incorporating them into the conversation.
• Interactive Elements: "Yeti" competitions to increase listener participation and engagement.
• Humor and Rants: Brief interludes of humorous exchanges and political rants, adding a personal touch to the podcast.

Notable Moments:

• Yeti Competition: Encouraging listeners to comment "yeti" for a chance to win, enhancing listener interaction.
• Political Rants: Brief, passionate discussions on topics like U.S. debt, Iran's geopolitical stance, and critiques of current political figures.

9. Closing Remarks and Future Plans

In the concluding segments, Jeff and Chip wrap up the discussions, reiterating the importance of upcoming legislation, and hinting at future topics. They also mention ongoing projects, such as Mel Carmine’s documentary, and set the stage for the next episode.

Key Points:

• Regulatory Clarity: Emphasis on the necessity of stablecoin legislation for the growth of the crypto sector.
• Future Topics: Indications of continued discussions on geopolitical impacts on crypto and further developments in tokenization.
• Community Projects: Mention of Mel Carmine’s documentary and the need for community contributions.

Notable Quote:

• Jeff [83:48]: “How about that?”
• Chip [83:48]: “Very good, man. Very succinct. Very succinct.”

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Conclusion

This episode of "On The Chain" provides an in-depth analysis of the XRP Ledger’s recent acquisition of a U.S. Treasury fund, exploring its implications within the broader context of global digital asset regulation, tokenization, and community engagement. Through insightful discussions and active listener interactions, Jeff and Chip offer valuable perspectives for both newcomers and seasoned enthusiasts in the cryptocurrency space.

Key Takeaways:

• Regulatory Developments: The UK is positioning itself as a leader in digital assets through proactive legislation, which could set a precedent for other nations.
• Stablecoins as Infrastructure: Stablecoins like RLUSD are becoming fundamental to crypto operations, necessitating clear regulatory frameworks.
• Tokenization Potential: While promising, tokenizing assets requires overcoming significant legal and infrastructural challenges.
• Community Importance: Active engagement and support from the community are crucial for the sustained growth and adoption of blockchain technologies.

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This summary encapsulates the key discussions and insights from the podcast episode, providing a comprehensive overview for those who haven't had the chance to listen.

Transcript

[Jeff]

Welcome to on the Chain. This is Jeff here with co host Chip. What is going on, Chip? What's going on, everybody out there in the on the Chain community? It's good to see everybody popping in. Looking forward to having a great chat with everyone because today we're going to talk about the XRP ledger getting a US treasury fund. What is all that about? Is it for real? Why aren't that many people talking about it? Why are some people talking about it? What kind of significance does it have? And what kind of volume does the RL USD have? Things are blown up in the stable coin arena, especially the other day, Chip, we talked about the genius act, which was 100 stablecoin centric. Maybe that means something bigger in the crypto space. Maybe it doesn't. How's that for an intro? But we got a lot of things that we're going to get into, which is, you know, pretty cool. You know, I'm looking forward to that. A lot of other great topics that we pulled up, like ripples, UK policy summit message, the XRPL over in Korea and Japan. David Schwartz caution on daos, or was he in support of the Dallas. We got to figure this out. Sometimes it's hard to figure out which direction he's going in. It looks like he's supporting maybe is, maybe isn't. Man. A lot of cool things to get into today.

[Chip]

All right, let's start it. Welcome to on the Chain. Welcome, everybody. Drop where you're coming in from again. What's with crypto whelp at a theme park? Theme parks you have in Belgium. Dude, I didn't realize Belgium was so rich with theme parks over there. Or did you travel?

[Jeff]

Belgium is one big theme park.

[Chip]

And is Chad traveling? He's in Baton Rouge. Say, what happened to celebration? You're traveling? It looks like that Mike says, good morning. Hello, everybody. And what else we have here? Crypto G coming in from the cereal.

[Jeff]

All right, Crypto G. What is your.

[Chip]

Favorite big bowl of cereal?

[Jeff]

Cereal. Big bowl. What is your favorite cereal when you're watching.

[Chip]

Is he having some, like, a healthy thing? Like, you know, like more like a Cheerios type thing?

[Jeff]

I was thinking that, too. That's.

[Chip]

Or like Cheerios. Grape Nuts. Froot Loops.

[Jeff]

Froot Loops. No.

[Chip]

Lucky Charm. Lucky Charms. Magically delicious.

[Jeff]

I used to love Lucky Charms.

[Chip]

Lucky Charms. I love to eat them with those nasty marshmallow things.

[Jeff]

They're like, oh, they were so bad.

[Chip]

And then if you poked them in the milk, they would get soft.

[Jeff]

Captain Crunch would make the top of your the roof of your mouth like.

[Chip]

Oh, it always like tear up your mouth.

[Jeff]

Oh, terrible.

[Chip]

I loved it.

[Jeff]

But it hurts so much to eat. What the heck?

[Chip]

Like still waiting for.

[Jeff]

Invented that.

[Chip]

And then there was Captain Crunch with crunch berries, which was just Captain Crunch. And around with some. With some, you know, red painted on it. I don't know.

[Jeff]

Right.

[Chip]

Still waiting. We're still waiting to find out. Drum roll, please. Let's find out.

[Jeff]

Look at that.

[Chip]

Storm bar here.

[Jeff]

He's been gone forever.

[Chip]

MF in building. Long ass family vacation. Well, glad to have you back. I hope you had a great time. I don't know where you went to. You got laurels coming in from the Bahamas. BS time today. Beautiful. Love this. Love to hear that. Yeah. Oh, that's nice. Visiting mom for a birthday. Well, tell mom happy birthday. Happy birthday to mom. That's fantastic. It's great to see that. Here we go. What do we have there? Mainly nsw. A, S, U, S, E, U, U.

[Jeff]

So what would NSW be? North. Don't know. I don't know what NSW would stand for.

[Chip]

Yeah, you do. Come on, think about it, Jeff. New South Wales, dude. It's Australia. He's coming from New South Wales. Australia, dude. Perfect.

[Jeff]

Oh, look at that. You got it. You got it.

[Chip]

That's the. You got to know the acronym right there. Australia gave it away.

[Jeff]

Well, I know the Australia part.

[Chip]

He's got two. He's got. He's got two. He'S got two. Mainly. I don't know. It's mainly. Yeah. Whatever happened to Wheaties are.

[Jeff]

Wheaties are gone?

[Chip]

Well, they had. They used to have Bruce Jenner on the COVID and then, then they put Caitlyn on and then that went under. I don't know.

[Jeff]

That was the end of the cereal.

[Chip]

Blueberries and Count Frank Frankenberry.

[Jeff]

I still like Grape Nuts.

[Chip]

It was. No, it's. It was.

[Jeff]

I don't eat cereal anymore, but Grape Nuts are still my favorite. Grape Nuts.

[Chip]

Happy birthday, mom from the Caribbean. Look at that wish. Coming in from all over. All over the planet.

[Jeff]

And you guys see those cool on the Chain logos next to the names? That means they're a member here, supporter of on the Chain.

[Chip]

We love to see that. And then we love to see these support people. Let's see what else we have here. He's got his YETI coffee. Beautiful.

[Jeff]

Nice. Which one?

[Chip]

Coffee?

[Jeff]

The Obsidian.

[Chip]

He was just kidding. He only eats old people cereal these days a few times a year.

[Jeff]

What does that even. Oh, so no cereal today. But if you did eat cereal, what would be your Favorite cereal then that you'd be eating.

[Chip]

There you go. Well, the one that I see in the stores that people like is the Magic Spoon where it's like keto friendly. And I've tasted it. It has a weird aftertaste to it. It's got a weird.

[Jeff]

I don't know, how about just oatmeal? And it's explained dollars a box.

[Chip]

It's a tiny little box. He said yes. So you said you threw two or three coffees out there. And he said yes. Obsidian, I think.

[Jeff]

Obsidian, yeah.

[Chip]

Obsidian. Here we go.

[Jeff]

So Obsidian granola, man. A little moosely granola, man. Granola is good, too.

[Chip]

I like the fresh market and. Or not fresh market. What's the other place they. A little breakfast place all over South Florida. What is it called? They have. They have the Musli where we have Blackburn. That's coming in.

[Jeff]

Look at that. Blackburn uk.

[Chip]

Muesli says. Yeah, muesli's great.

[Jeff]

Musli.

[Chip]

And they still have musely there. So I would do a little bit of Musli.

[Jeff]

I could eat my weight in Muesli. That's that stuff. Pumpkin seed. And it's got all sorts of great things in it. All right, let's get into crypto. We can talk about cereal all day long. Segue into something else. We just squirrel for like 20 minutes.

[Chip]

Is Judge Torres going to be a Dem dumb. She comes from a very Democrat family. Her dad was a judge. She's crooked. She oversaw the Epstein Guards case. Yeah. And also she got. Remember, she got. Wasn't that the one that she got bullied before Congress in a hearing?

[Jeff]

She did, Yep.

[Chip]

Eaten up, man. Yeah.

[Jeff]

Because our opinions on other things were just a little.

[Chip]

Yeah. She was also appointed by Obama. I'm pretty sure she's Obama appointee.

[Jeff]

Yeah.

[Chip]

The next thing they have to do is get rid of all these judges. You need to. Need legislation to do that.

[Jeff]

Yeah.

[Chip]

That's why these upcoming midterms, that's where stuff's really going to happen. You can't. You're not going to be able to do anything. Every time he does a move, there's a judge that comes out. Like, I saw something last night. ABC News breaking. The one guy they were going to deport from. I think it was the student from. From Columbia. They said he can't deport him. You know, that's going to be overturned pretty quick. I was like usually about to be anywhere from two to three hours. It's overturned. I haven't seen if that's overturned yet. But generally it is almost not late. Okay, we'll let you give you a pass today, Art. No detention for you. Wonder how many of Jeff's MVP mode rants I missed. Not. You haven't missed any yet.

[Jeff]

We just got going.

[Chip]

We just, we just. We were off on a squirrel chasing mission.

[Jeff]

Oh, just. Oh, because he's been gone. Because he just got back from.

[Chip]

You missed a lot. That's right. You missed a lot.

[Jeff]

It was Art on the lake is not late and he's almost not late. You missed the whole cereal segment.

[Chip]

You missed the segments. You missed the. Well, on the rant side, you missed a ton of epic rants. Let's get started with some ripple news here. Ripple talking about, tease this a little bit. The UK policy earlier this year. They're saying one message was clear, the time to act is now. And that's how everything is in life right now. Don't wait on it, don't sleep on it. Do it. Recommendations for UK policymakers Build a growth driven framework. Lead on global standards, Advanced stablecoin adoption and tackle tokenization barriers. They put up this article here. Digital assets in the UK are at an inflection point. The Chancellor Rachel Reeves stated that her ambition for the UK was to be the world leader in digital assets in April. Since then we've seen the HM treasury publishing draft legislation to set up the new regulatory framework for crypto assets and a series of consultations from the SCA covering crypto's asset activities, stablecoin issuance, custody and the prudential treatment of crypto firms. We also see new participants announced for the digital security sandbox also run by the FCA and Bank of England. And the announcement of a pilot to issue a digital UK government bond knows as digit. How convenient. Digital. I don't know. How does that work? Digital UK government bond is known as digit. There you go. Opportunity for the UK is huge. That the regulatory frameworks designed correctly can facilitate innovation, enhance financial inclusion and solidify the UK's position as a competitive global financial center. It does seem, Jeff, like they're really trying to pump up the uk like go, go, go.

[Jeff]

Trying to get it there.

[Chip]

I mean we know that. We've seen that. You know Trump's been saying he wants obviously the US to be the leader in digital assets. So and and UK has been very upfront on that issue and they've been really out in front and they've had better legislation. The FCA from the from for years. I mean they should have a pretty good head start. So I guess it all depends on, on maybe some other factors.

[Jeff]

Right.

[Chip]

So that's pretty much all they say talk about. You know, the summit focused on those issues. We talked about, you know, the role of stable coins, a new form of money. And, you know, Scott Besson's been sort of pinged on a couple of these, these shows where they try to do the gadget questions and he's like, no, I mean, this all it does. I mean, because most stable coins, at least the popular ones. Okay, yeah, there's one for the euro that's on the xrpl. There's one. Brazil has one. There's a whole. Every country will have their own stable coin. You'll have lots of stable coins and options out there. But most of them, at least the more popular ones, like tether and circle, which is. What's. What is circles? What's theirs called? Why they always make it so confusing?

[Jeff]

Which one?

[Chip]

The circle stable coin.

[Jeff]

The us. Us. Uscd.

[Chip]

Usid. Let's just make. Just call it one name. What's in these acronyms for. Just knock it off.

[Jeff]

Just. The circle is just uscd. Right? That's it.

[Chip]

Usdc. That's it.

[Jeff]

Usdc. Usdc.

[Chip]

Dumb. It's like, just call it circle, call it whatever. You know, tether is pretty simple, you know, you know, tether pretty. So, so it talks about here. We heard this until we're blue in the face. Digital frame Regulatory frameworks for digital assets Crucial for success. Sending a message hel us one of the most promising avenues for unlocking the economic growth driving digital asset. We call it investments. So it's all the same stuff we've heard before. There's nothing really key in here. Tokenization could be at a tipping point, but we haven't really. Yes, necessarily. I don't know that it's at a point.

[Jeff]

I wouldn't say we're at a tipping point. I would say tokenization is being discussed. Toast tokenization is being trialed. We're definitely not yet at the tipping point. As soon as they figure out how to really roll out the tokenization aspect of it, you know, what happens once it gets tokenized? Which assets will be tokenized, which platforms are going to properly tokenize? You know, then, then we're, we're into it. I think they need to start, you know, with art. Probably. Real estate is probably the easiest or not easiest, but would make the easiest sense. But yet at the same time, if they could take a security and tokenize the security and put your stock, you know, ownership and do fragment ownership, fragmental ownership in the Stock represented through tokenization, through NFT holding or some sort of representation, roll out a platform where that tokenization becomes meaningful, where it's EAS use. You know, something in the. In the space would be very cool. But those would be three primary use cases, I would say. I think it would be financial based on tokenizing security, real estate and then our from a collectible perspective. You know, those three real estate could be a bundle of residential holdings, it could be commercial holdings, it could be an individual commercial building. Yet there's already platforms that allow you to do that. I think the tokenization there's going to be clarity, legal ramification. There's all these other components that have to happen before tokenization. But we're talking about the uk so maybe the UK is further ahead, but I don't think we're at a tipping point yet.

[Chip]

Definitely not a great question here by Robert Dish Dish Dish. Can you cover why stables are buying bonds and the bonds are failing? Structure worldwide as another bricks nation want US bonds tethered that hold the most. I think one of the key things, especially if you think about the T bills, the treasury bills, because they're usually considered to be like something safe, I think it has probably to do with maybe some liquidity because you can liquidate those pretty fast. So that's one of the reasons I've heard given for why they're they're buying them. And also the stable coins, because they're pegged, you know, most of them, I guess like the more popular ones are pegged to whether it's the euro or it's the pound or it's the US dollar, whatever it mean Australian dollar. The whole idea is it's supposed to be worth one unit, whether it's one pound, one, you know, US dollar, one Australian dollar. That's the whole point. So you know, I guess to them there's the buildings of stability too because I guess they don't hold it in cash per se. So that's some of the reasons I've seen been stated, especially on the liquidity side, because the T bills and those kind of things, they're considered safe. I. You're bringing up a good point about talking about, you know, a failing structure, but again, I think liquidity probably plays into that too because you can liquidate those. But I don't necessarily know if I buy into that, but that's kind of what's been stated out there. What's your take on that, Jeff?

[Jeff]

Yeah, I kind of, you know, stand with that. I don't, I don't see that, that bonds are, are strictly based on or a failing structure. You know, I, you know, if we look at it like the US treasury bond will be backed up, you know, by the government, you know, so I just don't see how that would be a failing aspect of it. I don't think we're at a point where global Treasuries are imploding at any point in the near future. I don't see, I don't think that currency is imploding at any point in the near future. I don't think the US Dollar is anywhere close to, to be. And we're talking about near future. You know, they're looking for ways, you know, there's, there's obviously a lot of debt and that's what Joe is saying as well. So I like that point. As long as we're debt based, we have to stay debt based. Yeah, right. You know, and I think that, that, that's a really important component as well. Financial infrastructure on a global scale, you know, has been operational for, for many, many years based off of, you know, old principle. So how do you then transition into new principle? I think we're starting to see some new concept floating around now when the government's actually come around to saying, you know, we want, you know, dollar for dollar access, you know, we're, you're not gonna, you're gonna remove, if you remove debt from it. I don't, I don't even know if that's going to be a possibility. You know, the whole idea of, of treasury notes, you know, is more what would you say investment in infrastructural type project, you know, within the government. So it'd be different mechanisms to, you know, as a promissory to say here's, you know, you're going to be investing here. This is probably, it's going to be low interest return, but yet it's going to be stable and, and there's not going to be a lot of risk. It's probably the lowest risk investment that there would be because again it would be backed by, by in that case U.S. treasury.

[Chip]

So we're 37 trillion in debt. So it's. But also too.

[Jeff]

How does that mean? You know, I don't, It's a, it's a tough.

[Chip]

Well, no, I mean it is back. But I think, you know, the other thing too is, you know, if you remember, we covered this too. But the genius act also says it has to be liquid. Right. So in there as we talk about, you know, liquid assets like you know, the US dollar or you know, T bills. So that's gonna kind of, I think that's kind of too what people are anticipating again, but they want to break it up too because you want it to be spread around a little bit so that you might not want it all in, in USD. But again, the T bills too, there's going to be, it has to be liquid, right? So it has to be liquid and it does mention it in, in the Genius Act. So again, that's going to be one of the sort of requirements. They're not going to be, you know, for a USD back stable coin. They're not going to be buying, you know, you know, the British pound. There's, it's not going to be happening, not going to buy Euros. So that's one of the sort of conditions to get that legislation through and we'll see what happens in the House. Now the House, you know, their portion of it, it went to the Senate, Senate made God amazing, a lot of different changes to it. So it'll be interesting to see the Genius act bounce back to the House. And will they pass it clean? Because if they make changes, then it goes back to the Senate and if they make change and this is ongoing thing forever. So if they pass it clean, boom, to the President's desk, signs it and let's get on with the real crypto legislation. Because that one to me is, I understand why they're doing it first, but it's critical.

[Jeff]

We need to have it. Without that, you can't go to the next step because the, the stable coin is really an important component to the movement of everything else. Yeah, clear regulatory in that.

[Chip]

Husband's saying, historically it takes ages to get that legislation done in the uk but you guys got it done years ago. The FCA passed, you know, I like the three components of, you know, it could be, it could be a bunch of things, right? It could be decentralized, it could be a, you know, commodity. It could be, you know, it also could be a security. So there was, it was, it was well thought out legislation largely based on some of the early work that had been done here in the US but you guys got it done. It was years ago, the FCA passed all that stuff. So. But I get the point.

[Jeff]

Stable coin to be backed by paper. There you go. That's.

[Chip]

I always like when people say, well, what's it backed by? It's backed by nothing. It's backed by a wing and a prayer is what it's backed by. There's not a Lot going on there when it comes to being back. So also too this yesterday was in fact but XRPL Japan they had a bunch of stuff they'd put in English too but they had a. I can't read that but I can read this. Pl deep track OSS token platform XRP spaces. They did student beginners track. They did a. They did a. A real world tokenization fund marketplace. This was. I think these were the winners of the. Of their. Because also who was there was XRPL Korea. They said thank you for inviting us which is great. And Korea is like really, really advanced when it comes to. I think 7 of 10 of the population owns crypto there and a lot of it is vested in xrp. They're big huge XRP crowd here. But you don't need to see this. I'll just show the video here. But you can just see they just did a little pan around here.

[Jeff]

It's pretty cool.

[Chip]

It's good to see the youth there, man. That was, that was the engagement.

[Jeff]

Well they get so much more engagement over in South Korea, Japan. You know some of those areas are just significantly more engagement in technology. And especially now with the. With crypto as we saw when we were in Australia and we saw, you know what was going on in South Korea. Just super impressive and it's just growing by leaps and bounds. We're here, you know, we're taking such a slow roll approach on it. John Page was saying government should be run like a business. 99.999 of governments are pathetically in the red. Which is.

[Chip]

Right.

[Jeff]

Very true. Yeah.

[Chip]

Which is why I like Donald Trump. I've always liked the idea of having a businessman. I thought Perot might be the first one because he wanted to run it like a business and he ran a.

[Jeff]

Sharp he way very quickly.

[Chip]

Who's that? Yeah. Ross Pero.

[Jeff]

Yeah.

[Chip]

Yeah.

[Jeff]

I mean his, his running mate just. That was bad.

[Chip]

Well his running mate was. Was a disaster. But. But he did pull off 15 of the vote for a third party candidate. That's never happened before. So that was pretty impressive. They siphoned off the conservative vote which is why you got. We got Bill Clinton.

[Jeff]

Exactly.

[Chip]

Otherwise. So.

[Jeff]

Yeah, yeah. I liked Burrow back then too. I thought he was going to be good. And then his running mate got up. Can't remember. And the guy was. The guy was amazing up until that point too. You know he was.

[Chip]

He was great on the debate stage and he could out when it came to business and it came to just policy. He was really, very, really Smart, you know, and if you looked at, you know, Bush the elder was just the. He was already pretty much gone too. And he was just, you know, read my lips. No new taxes. Any past due taxes. Sorry, that's. I get you out out quick. Right. So that was part of it. He still would have been reelected hadn't Perot not pro. Had gotten out of the race. Yeah. But anyway, I think that when Trump ran too. Look what he's doing. He's got the trump card. He hopes to raise trillions of dollars to pay down the debt that way. He's got the. He's also bypassing the Federal Reserve by bringing in tariff money because all the tax money goes directly to the, to the, to pay the national, you know, the, the, the interest. And as you, the, the question you have to ask yourself all the time. People are always talking around it, but just ask yourself, why is any country paying interest on their own and they don't have a sovereign currency? You mint the currency here in the states. Congress is the one that can, that can. Especially the House when it comes to the money side of it.

[Jeff]

Right.

[Chip]

Can issue it. Right, Jeff? So why would you give it to a third party? You're, you've never seen a piano. You don't know what's going on over there and haven't been audited since 1913. You never built an audit into it like a annual audit here. If you're a public company, you got to go. You're scrutinized every freaking quarter. Not only that, but the analysts get on analyst calls and they scrutinize you. And I listen to all these analyst calls where they get on there and they just hammer them with questions and how come you dropped off and why'd your stock meanwhile the Federal Reserve, which is getting interest, which is probably more corrupt than the U.S. government. I'm, I'm just guessing here. It's, it's. No one ever talks the fact we're paying interest on our money. So they give us a dollar and we got to borrow another dollar to pay the interest on the first dollar. It's ridiculous, right?

[Jeff]

Yeah, yeah, yeah. The tax, everything else that goes into that. Ryan saying, I got 40 trillion mini Bitcoin to pay off the U. S Debt for all Americans. I got your back, America. 40 trillion mini Bitcoin, baby.

[Chip]

Bitcoin. Beautiful. I love that. That's awesome, man. So I like that. Then Ben Grossman, who is the marketing guy over at Ando finance, said yes. Job Rebel team. Our USD stablecoin narrows 500 million in transaction volume. So the big news here is that Ando finance just bought their short term U. S Treasury fund. The OUSG to the XRP ledger.

[Jeff]

Ledger, yes.

[Chip]

Here's the kicker. They're using RL USD for the all the minting and the redemption work. So there it is right there.

[Jeff]

Which is why again you need the stablecoin legislation for regulatory clarity to allow a lot of these transactionals to occur, you know and to be able to back the stablecoin is, is going to be the basis of the infrastructure. They're trying to build it. They're trying to build the infrastructure from the legality perspective. But Chip, I still say that Warren Davidson's token taxonomy act would have put us, you know, we would have been so much further ahead had that passed in 2018.

[Chip]

Well that's because we just have, you know, at a time you had some things had to happen. It's just the progression of things. You had somebody there so anti to show the public how horrible. And the Democrats are still anti. I mean there's a couple of them coming around but I feel like most of them who would support it feel like they can't step out of line because they'll get, they'll get denigrated by their own party. I feel like they almost, you know, we've seen it across the board. People are very pro crypto, have kind of zipped their mouth. They haven't really said much. They've kind of just hanging out in the background. So it's an awkward sort of a position to be in. We talked a little David Schwartz and, and Zao Dao. So the Zao Dao, they announced that it's launching and it'll be basically an on chain that will be able to vote on, you know, types of projects that get funded or fund projects. But Joel, Joel Katz otherwise and David Schwartz said I'm very impressed with what I've seen so far. So congratulations to the team.

[Jeff]

That's awesome.

[Chip]

That's a great thing to say. I'm really happy that he was saying that also too. So somebody based on put a post here and said I don't like the fact that it's promoting an LLC connected to the Dow. It's a Wyoming yellow connected. He said if you don't do that the law will treat the Dow as a general partnership and anyone who participates could potentially be held individually liable for any of the actions of the Dow. So David Schwartz understands right away this is a legal protection. There's a reason you have to do that. This right. And this guy was saying I don't know, I think maybe because some people, because of the whole decentralization thing but you have to, you have to follow a legal framework especially if a DAO ends up giving, you know, profits back to the members. Right. So the members holy side, it's decentralized in the sense that they put something up for vote, they vote on it passes. And also too if there's an excess too there could be some money funneled back to the members. He's pointing out something really spot on here.

[Jeff]

This is very well and that, and this is where you know, we're seeing such a slow progression with within this crypto space as fast as we want it to happen. We say, you know, slow. We're, we're, you know, 10, 12 years, you know, 13 years, 14, 15 years really into the making of it. Right. So we think if we think back from the originator but then really we're starting to see conversation over in the US over legislation only since 2017, 2018. So now in the past, you know, seven years plus is how long it's taken from to the point what we just brought up to the point where you know, when we're talking about the Token Taxonomy act, every all the pieces have to be in place. Plus there has to be some proof on the ground that there's longevity to this technology. So early on maybe there were still a lot of questions on the longevity and the direction what was really going to be happening with this technology. Now we're start. It's amazing to see it coming from so many directions having a conversation like that regarding the Zaldao regarding, you know, the, the centralized aspect of it, the decentralized aspect of it, the legality aspect of it. If it can be done and wrapped with a legal framework, you have to protect, you know, all the players that are putting that together. And, and that's a big part of everything. And we still have, there's still rules on the ground. There's financial rules, there's all these, there's all the infrastructure that exists, legacy infrastructure that is still relevant. I mean that you can't take that away. But yet you move into a decentralized framework and everyone thinks that it's still a free for all that we can remove the centralized aspect of our financial infrastructure and our legal system and you can't do that. It still has to be applicable. At some point we can probably cut out much of the fat and then it's going to be more P2P transactional. But someone had to have built it. There has to be some centralized environment that is still overseen or regulating, even in a defi space. You know, that. And that to me is even if it's open source, you can't allow it to be open source without some sort of a governing body, you know, and so if you have a governing body, does that make it d fire does that make it, you know, centralized? If you have a governing body, overseen, voting, changing, you know, all of those things, you know, you could have argument for both sides of it because at some point that decisions have to be made the right way. I'm looking at so many of these great comments here.

[Chip]

Great comments.

[Jeff]

Today, Joe Bud said we had treasury issued money in my life, silver certificates issued by the treasury with no Fed reserve involvement. We do this without the Fed reserve middleman, you know.

[Chip]

Exactly right.

[Jeff]

We need to continue going that route. What do you think?

[Chip]

Yeah, I mean, as much as possible. And I do think like Massey has a bill that he introduced in March to basically audit the Fed. I think at some point that will get some traction. And this, this beef between, you know, Trump and, you know, in the first term when he went against the, the chair of the Fed, when he started putting the pressure, a lot of people started like focusing like what's going on with the Fed, they started dropping it. But you know, it's partisan when, you know, we've got super high inflation when Joe Biden is president and then a month before the election they drop it. And meanwhile, all signs, you know, all analysts, then you got this other partisan thing where Moody's comes in and Moody's is gonna downgrade the U.S. well, they didn't downgrade in four years of the disasters, Biden. So it, it's just, it's just this, it's so obvious. I mean, it's not even like, well, they're not even pretending anymore when you're not going to adjust it when the inflation's down close to 2%. Jeff, when you, you've seen the prices come down, you've seen gas prices come down, by all accounts, they should have done two or three drops in, in the interest rate. But again, when you don't want, you want the president to succeed, you have your, your, your, your judges that are on the payroll of these ngos and they're getting money funneled into them and they're scams and, and yeah, you know, they're coming out of nowhere and they're denied every single move. This is this kind of stuff. This country can't go on like that. But I'm pretty sure stuff will be put in place to fix it. It's going to take some time. So people wondering why things aren't happening quick enough. Look, man, you got to root out the, the, the rats first. You got to get rid of the rats. You look at Iran is a perfect example of that. I mean, we'll get into that a little bit more later. But if you think about Iran, it's like, look, there's two deep state holdings that have been there for decades, and one of them is Iran. Remember Obama's, you know, one point. What was that? $1.3 billion for what? It was cash. Okay. What do you think that was? Terrorists. Okay. It was funny when it was in there, all of a sudden they just couldn't get rid of them. They couldn't get rid of the terrorists. But Trump, three weeks gone, done. They knew it because they could never bomb where they wanted to. They did these fake bombings of. They look like they were fighting. And that's the whole, the illusion. So who's crying the most about Iran? Well, it's the same bad actors. It's the same. It's the Democrats and the Rhinos, right?

[Jeff]

Yeah.

[Chip]

Well, as they follow the money, Jeff. And also to Ukraine is another money laundering operation. So he's. Trump's basically breaking up the money laundering operation. And they're worried, like, how often do you talk to bb? How often you talk to Netanyahu? He's like, daily. Listen. I mean, they're doing, they're doing the dirty work right now. And basically Iran is on its heels. And I have that video out to play, that video of the, it's like all girls school and they took off the hijabs. They are like. And yelling, death to the dictator.

[Jeff]

Yeah.

[Chip]

This is a country where we're 70% of the population is under 40 years old. Okay. They can take it back. And I think this is really people talking about regime change. Well, you don't want the US Making the regime change because that's the more deep state. You know, pockets are going to get lined there and they're basically blowing up the deep state everywhere. The US Aid cut the funding. And Jeff, did you notice something that the, that the, the DNC has come out and say that they're in trouble because they don't have any money, because they were funding all that money from those ngos. It was making it back into the dnc, but nobody's donating anymore and they're.

[Jeff]

In trouble as well.

[Chip]

They had the chair who just resigned after what, 22 years. He had so many conflicts of interest. They're. They're basically imploding before our very eyes. And speaking of imploding, look at this right here. Bitcoin, the official Bitcoin account. I want to do this last one before you the geopolitics.

[Jeff]

Well I got a couple other questions after that too. We got a post.

[Chip]

Said I stepped in some crap xrp. And why is that? I basically said what a train wreck of a post dripping with your narrow minded brain cell deficient bile. It's like you dope head first into a shallow pool of stupidity and posted the splash. You basically gift wrapped yourself a dart one award proving that you're too dim to survive the evolutionary cut. Well done.

[Jeff]

Oh my God.

[Chip]

I had to hit him with that. So they and I like this one Bitcoin. I stepped in some beta test coin and look at Bitcoin in the Blockbuster logo.

[Jeff]

Logo. Oh my God.

[Chip]

Yeah, I even said that. I was like yeah, I even posted on there. I said oh I love the fact that you did on the, the Blockbuster extinct logo.

[Jeff]

That's so funny. People are so quick witted.

[Chip]

Opposite that. That's fuzzy from the, the meme coin. You gotta love that man. That's freaking awesome. What were you saying about.

[Jeff]

All right, so we got a couple other just comments want to go through here. The King and the Fed. The world keeps turning. Then Robert Dish said so here therein lies my question. Why are we buying treasuries with stable coins? I don't trust it. That's interesting too. You know that component of it, it's a, it's a tough one.

[Chip]

Right.

[Jeff]

So stable coins, right. They're ratcheting up quickly and it, if we go back maybe you know, a year or two years ago when Ripple started to really emphasize and focus on stable coins, remember we, we can go back and play some of our videos. When we started discussing it, the big question is why were they making that transition? They're moving away from xrp. They're moving more towards the stablecoin environment. They were also heavily involved in creating the technology for central central bank digital currencies as well. You know, so we can't forget. And then all of a sudden they segue into the stable coin and now everybody's talking about stable coins. They were, are. They were already seeing the direction that the market was moving in. PayPal, Ripple Circle, all of these, you know, putting themselves in an interesting position to help digitize the, the transactionals. You know it's, it's really interesting look at this one, Chip. Ryan Boylan said you guys are awesome. Glad I found your channel. Looks like he's brand new here to the channel. So welcome to on the chain. Looking forward to seeing you more here.

[Chip]

Tell your friends and family because Google is always kind to us on the YouTube side, so really great. Robert.

[Jeff]

Nations are dropping the dollar. I don't think most nations are dropping the dollar. The dollar reserve is, is strong. I think there's, you know, people think they are, you know, but the countries that say that they're dropping it. China, Russia. Well, what's that question about?

[Chip]

Question. Right. You clicked on.

[Jeff]

No, he's just saying xrp Dow. Hold it. Yeah, yeah.

[Chip]

Well, it's Z, but it's. Yeah, it's. It's built. It's around the XRPL and also it's going to be friendly to other chains too. So it should. Yeah, it's exciting. There is also a DAO over in the APAC region as well. I forget who put that one together, but there is another one over there as well that I'm not as familiar with, but it's just great. We've been, we've been hearing about a Dow. A lot of talk about it. I love the two, the two co founders there, you know, Fabio Marzella and, and I'm just really, you know, we met him when we were in Australia and he was really the guy that was heading up. What was his, what was his title over there when he was running the. The woi. Jeff, do you remember what that was. Was.

[Jeff]

I don't remember the exact title. They have to go.

[Chip]

What was his title like there? I'm trying to think of what it was. I don't remember what it was offhand, but it was like the director, but he was basically the guy heading it. And then also Santiago Velez, which you guys know, he's been, well, you know, around the community for a long time, very knowledgeable, you know, nuts and bolts kind of a guy. So that's awesome.

[Jeff]

Now all the banks are getting in so that all the approval I needed. We're gonna boom, boom. We're starting to see Go. Yeah, go, Jeff, go. There you go.

[Chip]

Brian Boylan needs a, he needs to win a YETI that's put on his, on his, his little lockdowns. That's right.

[Jeff]

Mam is saying the lockdowns were done to get a lot of the infrastructure in place. That was interesting too.

[Chip]

The.

[Jeff]

If we go back and really look at, you know, the whole concept behind that, you know, we look, it was it even from a health perspective, was it even really necessary? And, and it was all about control. It was definitely a test to see exactly what they could do, how they could do. You know, there, there was a lot that got definitely orchestrated, you know, into, you know, the shutdowns. And it was also a major transfer of wealth at that moment in time. Also, you know, we see where China was. Even China's reputation and financial standing would probably have taken another decade. But it flip flopped very quickly and they ratchet up their status over during that period of time with all the shutdowns, financially, they, they shifted because they're the scope. People keep focusing on China, but China's in for a world of hurt. Also. They have a, they have a short Runway. Their population is aging at a rapid pace. It's definitely impacting their financials. They outwardly look wealthy and, and look like they can do, but there's a large percentage of population that isn't. They still obviously run. And they've always had this dichotomy of political infrastructure trying to run free, free market as well as communist control. And they struggle within that environment, you know, and so there's, there's just so much really going on with that. Was this a great channel gets great comments. The U. S debt will go to zero with this bull run. I've never been this excited my 48 years of living. What's up crypto nation? What's up pioneers? That's right.

[Chip]

That's exciting. I love, I love, it's a great comment, by the way. But you know, I, I do, I do love the fact that there's a lot of anticipation of great things to come. We've seen a lot of things already happen with the change in administration, but even the direction on crypto and like, you know, what the US does does largely affect what goes on in the world. And if we can get it cranked here, we can get it cranked everywhere because largely the rest of the world's already have the crypto legislation the US has been lagging horribly behind. So that's not been a good thing at all. So we gotta, I think once we crank that up, it'll be a good thing. Jeff, there was something I wanted to post here. I wanted to share this. It's a little bit long, but I wanted to get your take on this because I don't think you have a chance to read this one. But it's about Iran. Okay. So Guy, I don't know plain, I don't know who plain fag is. But he says I'm going to spell this out just once so people can link this tweet to the knuckle dragon mouth breathing, eating simian creatures that whine about boots on the ground as if America is going to conduct a land invasion of Iran with 1111 Guerillian troops and fighting the case for a generation. Everything that makes Iran a problem comes from a factory. And those factories can be vaporized from the air. Most US casualties in Iraq were caused by sophisticated offroute EFPs mines mass produced by Iran. The rockets fired at Israel in such massive quantities that it threatened to deplete the Israeli Iron Dome ceptor stock and overwhelm their systems may mass produced by Iran. So there you go. He's like, this is really, well the way this is defined here. The drones and missiles that the Houthis use to close the Babel Mandal Straight and thus the Suez Canal, most of those economically vital sea lines of communication mass produced by Iran, right there they are and they're the culprits and everything. The srbms fired at Ukraine by Russia, mass produced and delivered to them by who else but Iran. The massive heavy MRBM arsenal that they've been attempting to mass murder Israeli civilians with and have all been used to threaten and coerce everybody else in the region. Region as far as southern Europe, slash Italy. Mass produced by Iran. None of this happens without Iranian mass weapon production. Many millions of dollars in fiscal support and Iranian military advisors, leadership and intel support. You don't get the kind of problems in that region from six clowns making homemade grenades out of soda bottles, bathtub explosives and rusty nails. Anti ship ballistic missiles aren't cobbled together by jihad cletus in his garage. Blow up the Iranian military industrial complex, take out their nuclear program and these problems go away forever. And if they try to build them again, you blow them up again. There isn't a hole deep enough for them to climb in. We built a massive 30,000pound bunker busting bomb to make doubly goddamn sure of it. There is never at any possible point in time, any reason whatsoever to put a single goddamn boot on the ground in Iran. Every single forever in the Middle east is caused and perpetuated by Iran. And the only consequences for us ending it would be a 3% bump in Lockheed Martin stock. And that's. What do you think about that, Jeff?

[Jeff]

I think he's kind of spot on with that. You know, we look at a lot of the regional influence, the proxy wars, the Money Obama sending $1.3 billion in cash was the only way to move the money to them and to move, you know, money to the terrorist proxies around the region. We had the Hezbollah, they were controlling Syria. They. They basically disrupted stability throughout the region. They were controlling. They were doing a lot. Moving a lot of pieces. But when, during the 80s, you had Iraq and Iran were kind of at each other's throats, you know, for. For a long period of time, kept things a little bit stable. But if we look at that war of attrition between those two nations and the chemical weapons that had been utilized on both sides, which was, you know, obviously problematic. So if you want to look back and say, would they use those types of weaponry if they had them in their possession, yes, you know, and. And they still maintain some level of chemical weapon. But you're right, you know, even from that perspective, you know, what we're. What we're seeing and witnessing on that global scale, and then with the hooties over in Yemen, another destabilizing factor in the country of Yemen, why are the Hoodies able to operate quite like that? Why does, you know, where does the money from Hamas come from? You know, how are they interconnected with the Muslim Brotherhood? What is the true lineage of all the various terrorist entities? And there's terrorist entities that I would say probably 99.9% of the people that tune into the channel have no idea that exists that are in this country that are like, you have icna, you have isna, which is the Islamic Society of North America. You have. You have multiple different terrorist groups are all somehow intertwined and linked back into the Muslim Brotherhood. I'd once helped somebody work on a project and present it to an attorney general, and it was so interesting to see the entire lineage and all the interconnections of these. Of these entities and where they all stem from and monitoring and seeing where the cash flow comes from, and then the impact that they had in. Within local government, and you'll see how they kind of wind their way into local government, you know, so. But from this perspective, we think regionally over in the Middle east to see exactly what's happening, how the impact and the money flow, you know, coming in from Iran and the specific outcome. And, and it's interesting right now because Trump is, you know, strategically playing the Middle east and he's understanding what is going to be required if we go back to first term and the Abraham Accords and everything that he was thinking and planning out for the economic boom that would come to, that would come specifically to the Middle East. There are so many different aspects of that. But right now, to bring down Iran, to stop the flow of terrorist funding, weapon funding and all of that, which has been a big destabilizing factor. And right now, Chip, you know what we're, what we've witnessed over the, the past week has been extremely. I want to go beyond difficult. It. It's almost like a purgatory that Israel has been going through because they've never experienced anything to this level. To have hundreds and hundreds and hundreds of ballistic missiles. We're not talking about, you know, rockets that Hamas fired or Hisbah fired into the country that would, they would fire those into the thousands. Now we're talking about ballistic missiles that when they hit a building or hit ground, they, they take out an entire block and we're. And if you go and watch the, the live video feeds and things like that, you'll see exactly what's happening. Israel has strategically, over the past week dismantled a huge percentage of the military complex in Iran. But they don't have all the weaponry. They. So they're targeting the nuclear facilities, underground facilities. It's like if we, if we want to put it into some perspective, you know, Israel is, you know, currently hammering away at nuclear facilities in Iran with a hammer. The US Comes in and if the US Comes in and drops the Moab, the mother of all bombs, and they, and the bunker busters, they're going to come in there with a jackhammer, the U. S. Drops one of those, it basically melts and will make sure that they can never use that infrastructure ever again. And all those underground facilities of nuclear production would be melted and that would be the end of that complex. Israel is going to take, you know, sortie after sortie after sortie with a hammer to try to, you know, knock, knock out the potential. But then it can still be rebuilt at some point. So the US Most likely will have to get involved, you know, from that perspective, put an end to the nuclear programs within Iran. Trump said it can never happen. He's sitting on the sidelines. He's trying to figure out a way through negotiation, giving them every possible opportunity through negotiation. We all know that with the Ayatollah there, there's a low probability chance that they're going to come to the table properly because it has to be unconditional to say you have to give up everything. And based off of this window of opportunity, giving them every possible scenario to say, hey, come to the table and let's figure this out. They don't do that. There go the Moabs. And you start dropping bunker busters and Moabs into every one of those underground nuclear facilities. Plus the, the, the, the mountain storage regions where they're, they're holding all these ballistic missiles. And you, they've taken out maybe a third of their rocket capability. And I see all these expos Chip of people that are posting things, making statements that, oh, Israel's dome didn't work, they fired hundreds and hundreds and hundreds of missiles. If you have the, and in that segment you read if you shoot a hundred in the dome, the, the ground protection can only knock out, it's not going to knock out 100. So let's say it gets 90 of them, you know, and you have a hundred coming in. You're going to get in a couple drop and a couple of hit. And when they hit, you know, we've seen maybe 1200 people injured. I think close to 30 people have been killed at this point. I'm getting, I get feedback from the ground. People are running, you know, to their shelters. They go underground into the bomb shelters for protection. And it's what it, it's something that they, that no one's ever had to go through over in Israel before. But this is that war with Iran. They're shooting ballistic missiles and you know, would they put nuclear armament if they had it on one of those warheads? Of course they would go back in the history of their war with Iraq and they had, you know, the two of them using chemical weapons against each other. And you think that Iran, that for decades has been calling the US The Great Satan and has been funding all of the terrorist operations against our troops and our interests and our citizens around the world for decades because they want to. The Ayatollah and based on their concept, they want to destabilize all Western government into a caliphate. And we're not talking about the Iranian people because Chip, you mentioned that it's probably 70, 80 plus percent of maybe more, you know, that of the Persian population, they don't want that. They want to go back to their lives in the 60s, you know, when they were going to the beach in bikinis and it was like, you know, like a Paris of the Middle east, you know, and Lebanon was that way too. Lebanon, Iran, they had so many freedoms. And now it's time to go back to that. It's time to help. We saw a potential revolution in Iran during Obama's term and Obama turned a blind eye to it. And those people got massacred. Absolutely Massacred by. By that regime. You know, now it's time to see it flipped. And I love to see the. The populace in Iran rise up and take that country to back, you know, that's my rant of the day, Chip.

[Chip]

Good one. Ryan says the cargo plane landed in Israel, delivered more ammunition from the US Yesterday. Yes, we had. And then Adrian Stormberg said, purchase yeti coffee to activate MVP mode. Just like Jeff. And then we had this. Adrian. Jeff is the goat greatest of all time. Appreciate that support, man. From the UK in pounds. Love it. Love, love, love it. What else is. There's another comment here. Anyway, let's Jeff rant. Yeah, Jeff, that was a good one today, man. Bonus. That was a bonus. That was bonus time right there. So here we go.

[Jeff]

Before we go into anything else, because we're so far into it, and I don't know how many yetis we have up there, but we don't have a video because the platform will went down, so I couldn't actually create the video. But we do have a song.

[Chip]

We have a song. We'll do the song. I mean, the song is good, dude. Anyway, I wanted.

[Jeff]

Let's play one song now then, before we put that up.

[Chip]

All right, let's do that. Oh, let's do that.

[Jeff]

We're so far. And then we gotta let some yetis and then talk. Talk some more.

[Chip]

Play the song.

[Jeff]

Get into it. All right, here we go.

[Chip]

While you're playing that, I'm gonna put.

[Jeff]

A song about it. Want to hear it?

[Chip]

I want to hear it.

[Jeff]

You ready to win.

[C]

A badass yeti from the white tribe? From the clan of bandits shouting. You know the word of the day.

[Chip]

Come on.

[Jeff]

Come on.

[D]

Market.

[C]

Stomp it. Stand our ground. Get your zom and wallet ready. Are you really asking why? Because this ain't just a drop. It's a fucking whiteout. This is your legacy. This is your just reward. Claim your badass yeti or be forgotten like a footnote in history. Badass Yiddish.

[Jeff]

On the chain.

[Chip]

Damn, that was a good one, man.

[Jeff]

That was a good one. I like that one.

[Chip]

Let's throw back the 60s throwback. All right, we have 17 in there, guys. 17. We'll check back in a little bit, but we have 17 in there, guys. You know what to do. Type yeti. I don't want to type it in the comments because if I type yeti, then of course on the channel, win. Because we don't have any control over that because it's happened before. So I've said everything, but that but going back to this original comment, look at this right here. So, so this is the original post I just read from. There's one of the, the, the. The mother of all bombs right there. The Moab. So here's this. This guy says, jihad Cletus is so good, I'll be using that for eternity. Jihad is all that free asking for the American taxpayer and definitely cheaper than consistent. Constantly rushing back to the Middle east to fight another effing proxy war. No enemy, no war. Good point here. Good point. Alert. Yeti's rigged. Oh, man, already we're getting on that already. There is what you got? You need to type that in right now. Guys, we got 18 in there. So you have a one in 18 chance of winning. So here we go. I have heard the XRP Salute song. Another good one. My hoddle Yeti. Very cool. Here we go. Let's. I wanted to play this. So actually, hang on a second, let me pull this up. I wanted to. So Hank Johnson, who's in the House, who's a Democrat, I want to play this one to set the stage. If you're not familiar with this gentleman, but here's Hank and one of the hearings. This is about maybe like five or ten years ago, but this really happened.

[E]

From shore to shore and at a smallest level, smallest location. It's.

[Chip]

What he's talking about is Guam right here. CC Guam. There's the island right there. And he's talking about the island dimensions. And the left side, the right side, Here he goes.

[E]

Seven miles between one shore and the other. Is that correct?

[Jeff]

I don't have the exact dimensions, but.

[F]

But to your point, sir, I think.

[Jeff]

Guam is a small island.

[E]

Very Small island, about 24 miles, if I recall.

[Chip]

Long.

[E]

So 24 miles long, about 7 miles wide at the least widest place on the island and about 20, about 12 miles wide on the widest part of the island. And I don't know how many square miles that that is. Do you happen to know I don't.

[Jeff]

Have that figure with me, sir.

[Chip]

I can certainly supply it to you if you'd like.

[E]

Yeah. My fear is that the whole island will become so overly populated that it will tip over and, and capsize.

[Jeff]

We don't anticipate that.

[Chip]

The. He actually said he thought the island was going to capsize. This is what we're dealing with, okay? And this, this guy's been elected over and over. I. I don't know. I don't understand it. But just so you gotta preface who this Hank Johnson is. So Hank thought it Would be great to make a song about Trump and the fact that his staff and his handlers or even the Democrat party at large, let this go. At this point, you're making parody videos of yourself, and I love it. I'm not gonna lie. But this is pretty bad, Jeff. Here he is doing his own parody song, take off of hey Joe by Hendrix, and he changes to hey, Trump. Here we go.

[E]

Just recently picked it up. Thought I would try it out. I hate to hurt your ears and everything, but I'm just learning to play guitar, and so I'm compelled with a new guitar and with some thoughts about that old song, hey Joe, you know, to give some commentary on where we are now. And if y' all don't mind, I'm gonna just strum a little bit.

[Chip]

So the first problem here, Jeff, the guitar is not even in tune.

[Jeff]

No.

[Chip]

The second one is even. Hold the chord. Okay. At this point, whoever's filming this, it could be set up on a tripod or whoever staff is should say, hey, man, this is a really bad idea. But no.

[E]

Hey, Trump, where you going with that gun in your hand? Hey, Trump, where you going with that gun in your hand?

[Chip]

Death. Jeff. He can't hear. How horrid.

[E]

I'm going down the street and shoot down democracy.

[Chip]

Shoot down democracy. Not one democrat does knows that we're not a democracy. Not one of them understands through our constitutional republic.

[E]

You know, I want to be a king someday. I'm going down and shoot democracy down.

[Chip]

Yeah. And a king is democracy, basically. That's what a democracy is. That's right. It's top down. All the voice up at the top. Come on.

[E]

You know, I want to be the king someday.

[Chip]

We got rid of the king, and that's what July 4th is all about there, Hank. It's coming up. All right, so what did that lend itself to?

[Jeff]

He's doing that like.

[Chip]

Nobody can believe that this actually made it. It hasn't been taken down. Well, some people had some fun with this, so let's watch this. I can't play too much, though, because we'll get. No.

[Jeff]

Yeah, but I'm sure we will.

[Chip]

Yeah.

[Jeff]

My God.

[Chip]

This is fair use. And then this one here. Hey.

[Jeff]

Oh, my goodness.

[Chip]

Where you going with that?

[Jeff]

That.

[Chip]

Got Hunter Biden in his. In his underwear dancing in the. So it is so horrifically, horribly bad.

[Jeff]

How have people come up with this stuff?

[Chip]

I don't know. It's so rough, man. Oh, drugs are bad. A bad. Okay, okay, okay. Yeah, they're. It's really, really ridiculous. Is he really. BB Thinks he's BB King. I don't think people sometimes hear it, you know, Like, I don't think they can hear the fact. I mean, I would have felt, okay, if you at least tune the guitar. Like, that would have said, like, okay, you're taking lessons. You at least know how to use a tuner. You can't tune by area because you don't have that level of sophistication, but you can use a tuner and at least tune the guitar. Guitar is all out of tune, man. It's ridiculously bad. Chad saying his ears are bleeding. It's just. Now my ears are bleeding, too. Yeah, it's horrible, man. It's just. I don't. I don't understand, like, the. The cognitive dissonance, like, to not know that you're just completely out of touch. You know what makes something fun? I don't get it, first of all. So JD Vance was asked about Alex Padilla. I want to play this one first. Because everything makes it funny when you turn anything into a baby. You remember, like, Hank or Alex Padilla was complaining that he got arrested and he's crying. Well, they did a baby version of that. And it's just. I don't know, it's just funny to me. Forced to the ground, first on my.

[D]

Knees.

[Chip]

And then flat on my chest. Oh, no. And as I was handcuffed and marched down a hallway.

[E]

Oh, no.

[Chip]

Repeatedly asking, why am I being detained? I don't know. There's something about the baby that always makes everything funnier and better. So they were. So J.D. vance was asked, right? They asked J.D. vance, they said, hey, you know, they didn't state the name, but you can tell who they're talking about here. And this is what JD Vance had to say.

[Jeff]

Lawmakers who keep getting handcuffed. The New York Times just did a story, they keep getting handcuffed, suggesting that the Trump administration is cracking down on Democrats.

[Chip]

Can you comment on that?

[G]

Well, I was hoping Jose Padilla would be here to ask a question, but unfortunately, I guess he decided not to show up because there wasn't the theater. And that's all it is. You know, I think everybody realizes that's what this is. It's pure political theater. These guys show up, they want to be captured on camera doing something. They want to be able to go back to their far left groups and to say, look, me, I stood up against border enforcement, I stood up against Donald Trump, when all they're really standing up for is for drug cartels to run rampant over our country and sex traffickers to be able to continue to traffic little kids into our country. That's what you're doing when you stand against border enforcement. So I think these guys, we ought to, to laugh them out of the building. We ought to call them out for doing what they're doing, which is grandstanding. And if they want to work seriously on border enforcement, on keeping their communities safe, the Trump administration's door is wide open. But they're not doing that. They love the grandstanding. They hate law enforcement because they hate the idea of the United States of America having a border. It's a disgrace, but it is what it is.

[Chip]

Oh, he nailed that. Of course, this was him in another. This is him being a little bit more real here, Jeff.

[G]

Honestly, I couldn't give two shits if the guy's name is Jose Alex Pepe Panchito, nacho libre, chachito, chilito, paposito or whatever. I'm just saying he shouldn't be acting like a little bitch, that's all. I thought Mexicans were supposed to be tough. This guy's been crying like a little bitch for a week.

[Chip]

Oh, my God. That was, that was obviously parody, but this is, I think what AI Is best for. I mean, AI is really good for this, for bringing the, the, the parody on that side of the House, man. I mean, it's just, it's too good. And boy, I'll tell you what, this new mariachi song is interesting.

[C]

I decided to self deport because I. Of Donald Trump coming up today because of I'm.

[Chip]

I catch you. Don't you think? Jeff decided to self deport. That's funny as hell. My good God. Yeah. And so the other thing too is Stephen A. Smith, he. Because the NAACP always invites the President. Doesn't matter. They've done it throughout history. Well, they snubbed the President. And Stephen A. Is pissed, man. If you don't know who Stephen A. Smith is, he's, he's, he's very, he's been very outspoken. He's, he's said, look, I'm a Democrat and stuff, but he's been outspoken when he thinks something's not right. And I think he's got, he raises a good point here.

[D]

Get to ignore him is my point. He has been the most powerful, the most influential member of the GOP since 2015. How does you. Refusing to invite him, ostracizing him, not wanting to hear what he has to say to you all. How does that help you?

[Jeff]

How?

[D]

I'm not saying Agree with him. I'm not saying side with him. I'm not saying befriend him. I'm not saying any of those things. But ignoring him ain't gonna get it done. None of you truly want to be about the business of helping folks, particularly the desolate and disenfranchised in our country, the urban communities throughout America. Not that that's all the NAACP does, because I'm certainly not implying that. All I'm saying is that clearly is who you're interested in helping. Ignoring him and not even inviting him to come and speak at your convention. What's that gonna accomplish? For the first time in a 116.

[Chip]

Year history.

[D]

You'Re not inviting a president. Are you trying to tell me that there's no president that has been as offensive to the NAACP as Donald Trump in 116 years? Are you really making that argument.

[Chip]

That.

[D]

No matter what you think about Donald Trump, that's the only person, that's the only president of the United States that you've been able to say that about in a 116 year history of the NAACP? 116 years. Doing the math, that goes back to 1909. Since 1909, there's no President that has ever been more offensive to the NAACP than Donald Trump. Is that your argument? Let's say for the sake of argument that it is for the moment. Other than the progressive left, who's going to definitively agree with your position.

[Jeff]

You.

[D]

Might have folks out there that want to contribute to the causes of the NAACP that are center left and center right. They may not agree with Donald Trump either, but they recognize the importance of being able to work with the President of the United States. Just think about it.

[Chip]

Anyway, I thought that was a good rant right there. He does a lot of rants. And yeah, I don't always agree with everything he says, but the point he's making here is you cannot, I mean, 116 years, you don't invite the president to your national convention because you don't agree with them. It's like, what are they really worried about? Are they worried about his messaging landing? Are they worried about some of the people resonating with what he's talking about? Is that what they're really worried about? Because they're so, you know, anti Trump, Trump, bad, Orange man, bad. Is this what the, what the thing is? Why wouldn't you have somebody come you, you. If it's, if it's tradition, you invite the president. And by saying, I don't want to invite the President he's landing some good comments. What did you think of that rant, Jeff?

[Jeff]

I think he was spot on. I mean, he hit it, hit it perfectly. You know, I'd like to, you know, see, you know, rants like that coming from, you know, various communities that are. Have been predominantly supportive of the Democrat Party. And, you know, you see, you know, that they've been so. That these groups are just so anti, you know, Trump that they're just basically, they're just putting their heads in the sand. It just, you know, has no rational, you know, rhyme or reason to it. And so I love everything that he said. Y. It's spot on. Like I said, there's, you know, groups, you know, all over. All over the country, they could learn a little bit of a lesson from. From his. His commentary and his rant. You know, they just have to wake up and just say, look, you know, open up. Let's. Let's have dialogue again. Let's look at all sides of the situation. Don't just bury your heads in the sand, you know, because you think you don't agree, especially when things have been, you know, stacked up to. To best support, you know, people within this country. We have the best opportunity now to make positive advancements. And, you know, people have to get together to see it through instead of trying to continuously, you know, hold on to, you know, old, stale, broken ideology. So I think that that's, you know.

[Chip]

Do you know the difference between a white liberal and a white conservative? This guy's got some insights.

[F]

You want to know the difference between a white liberal and a white conservative? See, white liberals, they try to fight for us. Meaning they try to think that we're inferior and they think they're superior. They think we're brainless idiots. They think we're stupid, like we don't know how to think for ourselves. And then they get mad when we have a different political view than they do. So now they. Now they feel like they got to fight for us even more to try to get us back on the Democratic plantation. That's a white liberal, a white conservative, or a patriot, whatever you want to call them, they're not going to fight for us, but they will fight beside us. They'll fight. They'll stand side by side with us. You want to know why? Because they don't see us as their inferiors. They see us as a neighbor. They see us as a human being. They see us as Americans. That's the difference between a white liberal and a white conservative.

[Chip]

Nailed it. Democratization, baby.

[Jeff]

Yeah.

[Chip]

Totally 100. And then we got one last video here before we get into our drawing here. We've got 24 in there that I want to address. Mel's comment here in a second. Here we go. This is what AI is really made for. And this is if you were vlogging during the Revolutionary War. From the British point of view. Here we go.

[H]

Arrived in the colonies because there was some bitching over a tiny 3% tax. Not that big a deal, but whatever, this shit'll be easy. What the actual fuck? Where the hell are they? Unless they're lined up 10ft in front of me wearing bright blue uniforms, I can't see them. These guys are such assholes. What kind of a dickhead doesn't line up in a straight line and patiently take turns shooting one another? Sir, these colonials are worse than gonorrhea. They hide behind trees and pick us off while we pass through single file wearing bright red. And you would know, Corporal, even though we're the superpower of the world, we still don't know how to counter this ingenious tactic of hiding behind trees.

[Chip]

God damn.

[H]

We've been here eight years and are just getting our shit pushed in. These boys weren't kidding. They really do hate taxes. Okay, this is our last stand. We may have a chance if we just. Nope. Shit. Never mind. Those ass smelling French are here. I'm here in place of Cornwallis because apparently he's really sick today to deliver terms of surrender to that giant stud right there.

[Chip]

I'll tell you, man, the stuff that comes out is just absolutely fabulous, man. It really is great.

[Jeff]

Oh, it's so great.

[Chip]

It's so.

[Jeff]

Yeah. It was so spot on.

[Chip]

Should I play the song? He's already on it.

[Jeff]

I'm already on it.

[Chip]

No, not that song.

[Jeff]

I know. You ready?

[Chip]

This song. Yeah, yeah, yeah.

[Jeff]

Make sure you add the thing, sir. How many are there? We go.

[Chip]

Here we go, boys and girls. Who is it gonna be? King is the winner. The king. Where's the king? The king is here. King's getting in the wall. That beautiful king. You ready to win?

[Jeff]

I should have played that one.

[C]

From the white tribe. From the clan of bandits shouting. You know the word of the day.

[Chip]

Come on.

[Jeff]

On.

[Chip]

Come on. Big congrats.

[Jeff]

Got it.

[Chip]

Send it to me.

[C]

Get it. Are you really asking why? Because this ain't just a drop. It's a white out.

[D]

Yeah.

[C]

This is your legacy.

[Jeff]

Oh, there it is. I just saw it. I got it.

[C]

Claim your badass yeti.

[Chip]

There's my.

[Jeff]

I just footnote. In history. Oh, he's got to send his Twitter.

[C]

Badass Yiddish on the chain.

[Jeff]

There you go. That was quite the song. Oh, why is it playing again? You ready to win? And there we go. Playing too many times around. All right, here we go. I'm gonna send this bad boy over.

[Chip]

Yeah. And crypto whelp also is at another theme park. I don't know, there's a lot of theme parks over there. But he sent this image here to the king. There it is right there.

[Jeff]

Look at that. What is that, an ape?

[Chip]

Looks like a giant gorilla. It's a giant yeti. I don't know what it is. Gorilla, gorilla, King Kong is what it is. Yeah. Giant king.

[Jeff]

Here we go. We are sending this bad boy over to the king. It is on its way. It's verifying and it is on. That's it. Submitted successfully, the King. Let me show you what you just. We forgot to put the. This bad boy up. So now I actually have to put it up there. So you can actually see the bandit that was just transferred over to the King. Look at this bad boy right here. Look at that. Do you see that?

[Chip]

That's what you got. Somebody with pull their intestines out. Geez.

[Jeff]

Ready? That is Yeti 1416 transferred over to the King.

[Chip]

That's why the car roped off. Crypto Yelp. What's up, Alex?

[Jeff]

Yeet, OG 1416. What's today? The 21st.

[Chip]

Joe comes to lose. Come on. You'll win at some point. Come on, man. Purchase one too to help support the channel Blue tribe. Put up XRP cafe and then you can have it. So there you go.

[Jeff]

There you go. The king. King has a blue yeti. Now he's got a white yeti.

[Chip]

It's great, man. He's got both tribes. Beautiful. All right, so we gotta do here. Mel, you never gave it to me. I don't see any DMS from you, so I cannot play anything.

[Jeff]

Do we have the King's X handle? Is that it at the King? No. What?

[Chip]

Don't know. Drop it in there. King.

[Jeff]

What is your X handle? The King. Let's add it to X to put it on X.

[Chip]

So here's from Mel Carmine at the XRP QFS team. Bro, Bro, I'm still waiting for the video of Dear Mr. President documentary from you and Jeff. So, Jeff, you had to record 45 seconds or less.

[Jeff]

What?

[Chip]

Start up by Dear Mr. President and go on. You can't do on your epic rants. It has to be a 40 second rant where you rant about the censorship in America. Send it over to Mel. He's putting together his documentary. Adrian Sternberg says to comment on those wild XRP predictions you claim definitely arriving by March. And then he said, well, look, Nostradamus didn't get everything right, so don't crucify me. XRP will come when we least expect it. I do believe that. Need to have the video by next week. That's going to the deadline for us to be able to launch early August. Okay, and what else? So you never. So you never sent it, Mel, I don't think I have. I'm looking at my DMS here on Twitter and I do not have a post from you. I do not have it. Xrp, what is your website? Because maybe I can go there. It used to be in here, but I changed browser so now it doesn't come up. Let me see here, let me see. Find it here. All right, here it is. Is it on the website? Because I'm on the website. Did you put the trailer there? Because I'm on your website and I don't see it. Where would it be? Here it is. You can't. Don't plug it in here because I can't get it. You have to plug it. You have to send it to me. DM it. If you send it here, I can't grab it. Jeff might be able to. I can't need the link. Put it on screen. Otherwise. While we're waiting for that, I thought this was a fun little meme. Look at this one. My generation will start a revolution, Jeff. See that?

[Jeff]

Yes.

[Chip]

Your generation can't even start a lawnmower. There you go. Can't even start a lawnmower, you losers. And then we had the Supreme Court this week, Jeff upheld Tennessee's ban on gender affirming care for transgender minors. A stunning setback to transgender. Right? But who else but Pocahontas? She said, trans kids suffer when they don't get medically necessary care. Yeah. So the kids are like minors are in a place to choose what they're going to do and, like, you know, lop off parts of their body. My heart is with trans kids and their loved ones. I won't stop fighting to make sure they can be exactly who they are. On the wrong side of the issue as well. Pocahontas, of course, James Wood, with his Amazing Wit, his 160 IQ, said, I won't stop fighting to make sure they can be exactly who they are. Pale face who thinks she's an Indian. James woods, hero, My hero. I love the guy. All right, so, Mo, last shot to get it in here. Otherwise we're moving on. We gotta move. I don't.

[Jeff]

Move on. And wrap it up.

[Chip]

He texted it to me for. Man. Holy Christmas. This is a very specific. I've even put my. I don't even. I don't even have a text from you, dude. I don't even have a text from you, bro. Nope. I don't have the text. No text? Nope. Oh, well, we did get it to us. We were unable to get it. We'll do. Get it to us and we'll play it tomorrow nights. Yeah.

[Jeff]

Yes.

[Chip]

Yeah, yeah, yeah, yeah, yeah. Tried, Tried, tried. Couldn't come up with it. And. Yeah, that's how it works sometimes, so. See, there we go. The king, guys. The king right there. King and bandits right there.

[Jeff]

That's awesome.

[Chip]

And repost it. I don't like this thing. Gonna like the king. Let's make sure I'm following the king. Am I? I'm following. Okay.

[Jeff]

The carpet king.

[Chip]

Beautiful, man. Beautiful. All right, that's all we have, guys.

[Jeff]

Until tomorrow night, 8:00pm Eastern Standard Time, right here on the chain. How about that?

[Chip]

Very good, man. Very succinct. Very succinct. And we are out of here. And I mean it. I do mean it. We are for real. We'll see you guys on the next one. Chip and Jeff.

[H]

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