The ONLY Thing Stopping Bitcoin Price Just Got Killed — and Nobody Saw It Coming

WEBVTT
1
00:00:00.000 --> 00:00:16.300
Hello, everyone. CPIED to 3 .5 % The
2
00:00:16.300 --> 00:00:22.380
Fed hike odds collapsed to 8%. Hello everyone.
3
00:00:22.380 --> 00:00:27.360
CPI just cratered to 3 .5%. The Fed
4
00:00:27.360 --> 00:00:30.940
hike odds collapsed to 8%. And half a
5
00:00:30.940 --> 00:00:33.740
trillion dollars ripped through Asian markets so fast
6
00:00:33.740 --> 00:00:36.140
that South Korea had to hit a circuit
7
00:00:36.140 --> 00:00:39.120
breaker on the way up. Not to mention,
8
00:00:39.120 --> 00:00:40.940
Bitcoin seems to be finally going in the
9
00:00:40.940 --> 00:00:43.800
right direction at the same time that the
10
00:00:43.800 --> 00:00:47.120
Algo gets fixed. And apparently Bitcoin Twitter is
11
00:00:47.120 --> 00:00:50.660
so back. Maybe that's why sentiment was so
12
00:00:50.660 --> 00:00:55.320
trash this bare market. Meanwhile, Trump slapped, once
13
00:00:55.320 --> 00:00:57.180
again, a full blockade on the straight -up
14
00:00:57.180 --> 00:01:00.720
Hermuz for Iran with a war. cabinet planning
15
00:01:00.720 --> 00:01:04.000
something even bigger. And even though oil is
16
00:01:04.000 --> 00:01:06.560
now on the move, there's another reason you're
17
00:01:06.560 --> 00:01:09.140
being squeezed at the pump. And a Taiwanese
18
00:01:09.140 --> 00:01:11.720
congressman says there's a 100 % chance his
19
00:01:11.720 --> 00:01:14.900
country stacks a Bitcoin reserve all at the
20
00:01:14.900 --> 00:01:18.180
same week that the IRS quietly wires up
21
00:01:18.180 --> 00:01:22.200
a real -time blockchain surveillance dragnet. So strap
22
00:01:22.200 --> 00:01:24.260
in, drop a like. I'm Ben with the
23
00:01:24.260 --> 00:01:33.560
BTC sessions. This is BitCast. The issue is
24
00:01:33.560 --> 00:01:35.780
not red or blue. The issue is between
25
00:01:35.780 --> 00:01:37.580
the state and you. It can be a
26
00:01:37.580 --> 00:01:39.160
little bit of a warning sign. It gives
27
00:01:39.160 --> 00:01:41.980
you a tool to empower. That sounds like
28
00:01:41.980 --> 00:01:44.580
a utopia, my friend. It is. It's exactly
29
00:01:44.580 --> 00:01:47.380
a utopia. With Bitcoin, no one can take
30
00:01:47.380 --> 00:02:01.540
it from you. We were lost without you.
31
00:02:01.540 --> 00:02:05.080
Joey is terribly. We're runnerless. We barely are
32
00:02:05.080 --> 00:02:09.400
hanging on here. I got to begin a
33
00:02:09.400 --> 00:02:11.880
few times. It seemed to be, well, maybe
34
00:02:11.880 --> 00:02:13.060
it was just the timing of when I
35
00:02:13.060 --> 00:02:14.840
looked. It seemed to be running and not
36
00:02:14.840 --> 00:02:17.120
burning down. But I did catch a good
37
00:02:17.120 --> 00:02:19.400
episode where Joey couldn't figure out the audio
38
00:02:19.400 --> 00:02:21.680
on the clip. Listen, the first episode. Which
39
00:02:21.680 --> 00:02:24.180
one? Am I right? The Friday one from
40
00:02:24.180 --> 00:02:25.720
last week or two weeks ago, whenever it
41
00:02:25.720 --> 00:02:27.460
was, the first one I did, I was
42
00:02:27.460 --> 00:02:29.740
fucking hammered. Like I can't, I played golf
43
00:02:29.740 --> 00:02:32.840
all. day. Joey had like three milks. He
44
00:02:32.840 --> 00:02:38.020
was blitzed. Whole milk. It's good to fuck
45
00:02:38.020 --> 00:02:39.820
you back. It's good to fuck you back.
46
00:02:39.820 --> 00:02:43.980
I'm super, super stoked about it. Yes, I
47
00:02:43.980 --> 00:02:49.600
wanted to start with, let's chat about, before
48
00:02:49.600 --> 00:02:53.300
we get into all this inflation stuff, let's
49
00:02:53.300 --> 00:02:55.440
chat about the sentiment because apparently we are
50
00:02:55.440 --> 00:02:59.960
so back. Bitcoin is finally looking kind of
51
00:02:59.960 --> 00:03:04.780
nice. here. But is that just a function
52
00:03:04.780 --> 00:03:07.600
of all of the macroeconomics or is it
53
00:03:07.600 --> 00:03:13.280
really because Bitcoin Twitter is so back? What
54
00:03:13.280 --> 00:03:15.200
do you guys? How is your, are your
55
00:03:15.200 --> 00:03:18.500
feeds noticeably different? Because I think mine actually
56
00:03:18.500 --> 00:03:20.600
is. Like, I'm seeing people that I haven't
57
00:03:20.600 --> 00:03:23.320
seen in in quite some time. There you
58
00:03:23.320 --> 00:03:27.420
go. There's a lot. His Algo is finally
59
00:03:27.420 --> 00:03:30.500
tuned here. Yeah. Yeah. Yeah. But there's all
60
00:03:30.500 --> 00:03:32.980
kinds of, all kinds of people that I
61
00:03:32.980 --> 00:03:35.740
haven't seen on here in quite some time.
62
00:03:35.740 --> 00:03:38.740
Have you guys actually noticed any change in
63
00:03:38.740 --> 00:03:42.720
your Bitcoin Twitter algos? Not really. Like, I
64
00:03:42.720 --> 00:03:45.620
mean, my Bitcoin Twitter Algo is still pretty
65
00:03:45.620 --> 00:03:48.560
solid and never really went the wrong direction.
66
00:03:48.560 --> 00:03:50.600
When I started talking to you guys more,
67
00:03:50.600 --> 00:03:51.660
I started seeing a lot more of you
68
00:03:51.660 --> 00:03:55.040
guys that stayed the same. The limit test
69
00:03:55.040 --> 00:03:56.740
for me is how often I see Bitcoin
70
00:03:56.740 --> 00:03:59.400
Gandalf's tweets. If I don't see his feet
71
00:03:59.400 --> 00:04:00.960
for a while, then I know something is
72
00:04:00.960 --> 00:04:02.340
going on with the Algo, but he's back
73
00:04:02.340 --> 00:04:03.740
in my feet now. So I don't know.
74
00:04:03.740 --> 00:04:06.340
Dan, if you're out there listening, welcome back.
75
00:04:06.340 --> 00:04:08.960
Yeah. Yeah. There's a few. I'm trying to
76
00:04:08.960 --> 00:04:12.920
think of some of the people like Brandon,
77
00:04:12.920 --> 00:04:15.320
the guy who wrote a miscellium of money.
78
00:04:15.320 --> 00:04:18.660
I'm trying to quit him. Quit him. Yeah.
79
00:04:18.660 --> 00:04:20.620
I haven't seen him in my feet forever.
80
00:04:20.620 --> 00:04:25.300
But yeah, there's a handful. Either way, feels
81
00:04:25.300 --> 00:04:28.500
good. I like it. But. But let's chat
82
00:04:28.500 --> 00:04:33.600
CPI. This is interesting. So CPI inflation falls
83
00:04:33.600 --> 00:04:37.060
to 3 .5%. The expectations were 3 .8.
84
00:04:37.060 --> 00:04:38.500
I mean, that still sounds like a big
85
00:04:38.500 --> 00:04:40.980
bucket of shit to me, but nonetheless, core
86
00:04:40.980 --> 00:04:44.740
CPI falls to 2 .6. Expectations of 2
87
00:04:44.740 --> 00:04:48.400
.8 month or over month CPI. Inflation fell
88
00:04:48.400 --> 00:04:53.000
0 .4%. The biggest monthly drop since May
89
00:04:53.000 --> 00:04:56.560
of 2020, U .S. stock market futures surging
90
00:04:56.560 --> 00:05:00.420
on the new. news. We have Larry Lepard
91
00:05:00.420 --> 00:05:03.840
cynically shining in here. My, my, a cool
92
00:05:03.840 --> 00:05:06.880
CPI number. What a gift to Kevin. I
93
00:05:06.880 --> 00:05:10.820
am shocked. At the same time, we have
94
00:05:10.820 --> 00:05:14.020
the odds of Fed hiking rates over on
95
00:05:14.020 --> 00:05:17.440
Pauly Market, dropping from the mid -30s down
96
00:05:17.440 --> 00:05:22.340
to 8 % for July. We also have
97
00:05:22.340 --> 00:05:26.420
a slew of other central banks now put
98
00:05:26.420 --> 00:05:29.760
in the brakes. surprise, surprise on rate hikes.
99
00:05:29.760 --> 00:05:31.780
I mean, Joey, you've been all over this
100
00:05:31.780 --> 00:05:34.400
saying there's no fucking way. But Bank of
101
00:05:34.400 --> 00:05:37.100
England Bailey says investors should not count on
102
00:05:37.100 --> 00:05:39.900
UK rate hikes. Even here in Canada, market
103
00:05:39.900 --> 00:05:42.000
right now has one rate hike priced in
104
00:05:42.000 --> 00:05:45.000
to Canada this year. I would bet against
105
00:05:45.000 --> 00:05:48.920
that. That's Ed Devlin, sorry, founder of Devlin
106
00:05:48.920 --> 00:05:52.920
Capital. He was on BNN. And then, yeah,
107
00:05:52.920 --> 00:05:58.060
stocks ripping because of it. Yeah. largest monthly
108
00:05:58.060 --> 00:06:02.100
decline again in CPI since April 2020. Markets
109
00:06:02.100 --> 00:06:06.140
happy about it. Stock market, $300 billion added
110
00:06:06.140 --> 00:06:11.180
single day. Asian markets were ripping. So South
111
00:06:11.180 --> 00:06:14.880
Korea, funny enough, I think this is just,
112
00:06:14.880 --> 00:06:17.160
I can't recall how recent it was, but
113
00:06:17.160 --> 00:06:18.900
they were hitting circuit breakers on the way
114
00:06:18.900 --> 00:06:22.140
down. Was last week? Was it last week?
115
00:06:22.140 --> 00:06:25.960
Jesus Christ. Yeah. Yeah. And now there's circuit
116
00:06:25.960 --> 00:06:29.160
breakers on the way up. Yeah, they what
117
00:06:29.160 --> 00:06:34.080
they, it's surge 8 .2%. Circuit breaker was
118
00:06:34.080 --> 00:06:38.040
triggered. Halted stock trading for about 20 minutes
119
00:06:38.040 --> 00:06:42.980
there. But we also have just volatility everywhere.
120
00:06:42.980 --> 00:06:46.160
IBM, shit in the bed today, 25 %
121
00:06:46.160 --> 00:06:51.320
drop. Look at that chart. Look at that
122
00:06:51.320 --> 00:06:58.060
frigging chart. Amazing. Nonetheless, In less, we have
123
00:06:58.060 --> 00:07:02.560
some, such as Bank of America, saying the
124
00:07:02.560 --> 00:07:06.160
stock market sell signal has been triggered. Fund
125
00:07:06.160 --> 00:07:09.620
manager cash level falls to 3 .6%. One
126
00:07:09.620 --> 00:07:12.780
of the lowest levels this century, meaning that
127
00:07:12.780 --> 00:07:15.660
they're all in pretty much as hard as
128
00:07:15.660 --> 00:07:18.900
they could be. And then you've got the
129
00:07:18.900 --> 00:07:23.700
PE ratio, the Schiller PE ratio, taking out
130
00:07:23.700 --> 00:07:26.840
its dot -com bubble all my mind. What's
131
00:07:26.840 --> 00:07:29.560
when on with that gift there? What did
132
00:07:29.560 --> 00:07:31.740
you say about Schillard P .E? I'm a
133
00:07:31.740 --> 00:07:35.660
little distracted here. Well, do you want me
134
00:07:35.660 --> 00:07:37.640
to just, I was, I was trolling in
135
00:07:37.640 --> 00:07:38.780
the chat for a second. What did I
136
00:07:38.780 --> 00:07:42.000
miss? Let's let's just get that give up
137
00:07:42.000 --> 00:07:44.180
here instead. We'll just look at that. That's
138
00:07:44.180 --> 00:07:45.200
the market. That is the market. That is
139
00:07:45.200 --> 00:07:49.160
the market. Here's your portfolio. Yeah. So Schiller
140
00:07:49.160 --> 00:07:52.080
P .E. ratio on the verge, sorry, of
141
00:07:52.080 --> 00:07:54.260
taking out his dot -com bubble all time
142
00:07:54.260 --> 00:07:57.960
high. Um, we've, and, and the interesting thing
143
00:07:57.960 --> 00:08:01.720
about markets pumping is that it's not all
144
00:08:01.720 --> 00:08:06.300
of markets. It's fucking semiconductors. They're like 20
145
00:08:06.300 --> 00:08:10.500
% of the S &P now, which is,
146
00:08:10.500 --> 00:08:13.920
which is wild. And, uh, beneath the service,
147
00:08:13.920 --> 00:08:17.860
of course, markets, uh, quite volatile, not as
148
00:08:17.860 --> 00:08:20.740
a whole, but that's just because semiconductors are
149
00:08:20.740 --> 00:08:23.360
propping everything else up. Everything else is all
150
00:08:23.360 --> 00:08:28.960
over the fucking place. Yeah, tech sector, wildest
151
00:08:28.960 --> 00:08:33.580
swings in years. Various ETSs, multiple, you know,
152
00:08:33.580 --> 00:08:35.740
34 daily moves of at least 4 %
153
00:08:35.740 --> 00:08:40.500
year to date. You've got, that's like 278
154
00:08:40.500 --> 00:08:43.700
% above the previous full year record of
155
00:08:43.700 --> 00:08:47.740
nine such moves set in 2024. Again, you're
156
00:08:47.740 --> 00:08:53.160
getting tech sell -off in non -semitter realms.
157
00:08:53.160 --> 00:08:56.960
And I don't know. Like, to me, this
158
00:08:56.960 --> 00:09:04.080
feels like going back and reading when money
159
00:09:04.080 --> 00:09:07.820
dies. Going back and nobody knows how to
160
00:09:07.820 --> 00:09:10.920
value anything, everything is volatile as shit under
161
00:09:10.920 --> 00:09:15.200
the surface. And it's just a mess. So
162
00:09:15.200 --> 00:09:16.840
I kind of want to get your guys
163
00:09:16.840 --> 00:09:20.040
read on what's going on right now. Everybody
164
00:09:20.040 --> 00:09:23.600
seems to be euphoric. Hooray, we're not going
165
00:09:23.600 --> 00:09:27.860
to cut rates. But. I don't know. Okay,
166
00:09:27.860 --> 00:09:29.340
they may end up, they're not going to
167
00:09:29.340 --> 00:09:31.340
hike, but the odds are still for no
168
00:09:31.340 --> 00:09:34.220
cuts. Yeah, yeah. Yeah. So that's one thing
169
00:09:34.220 --> 00:09:35.760
to keep in mind. I mean, everyone likes
170
00:09:35.760 --> 00:09:38.220
the price action in Bitcoin in the NASDAQ
171
00:09:38.220 --> 00:09:40.340
because that's really what we're tied to, unfortunately,
172
00:09:40.340 --> 00:09:43.540
for the moment. Lepard is right. We talked
173
00:09:43.540 --> 00:09:45.700
about this on the show that if Warsh
174
00:09:45.700 --> 00:09:48.160
wanted to be hawkish, the data lends itself
175
00:09:48.160 --> 00:09:50.860
to hawkishness if he wants it to. And
176
00:09:50.860 --> 00:09:53.620
instead, he is doing two things. He is
177
00:09:53.620 --> 00:09:56.300
changing the measurement that. measuring sticks, changing the
178
00:09:56.300 --> 00:10:01.000
data collection methods. And he's now looking at
179
00:10:01.000 --> 00:10:03.980
other stuff. You could also make the case
180
00:10:03.980 --> 00:10:07.700
that, you know, that data's from June, really.
181
00:10:07.700 --> 00:10:09.280
So, you know, that that was when you
182
00:10:09.280 --> 00:10:11.880
had a significant drop in what? Anyone in
183
00:10:11.880 --> 00:10:13.500
the crowd won't put their hand up. Oil
184
00:10:13.500 --> 00:10:15.820
prices, gas prices, because the straight kind of
185
00:10:15.820 --> 00:10:17.680
experienced a little bit of a smooth moment
186
00:10:17.680 --> 00:10:21.440
there. And since then, you've gone the other
187
00:10:21.440 --> 00:10:23.420
direction now. I will note that if you
188
00:10:23.420 --> 00:10:25.600
want to have sort of another indicator of
189
00:10:25.600 --> 00:10:28.420
how the U .S. economy is doing. Our
190
00:10:28.420 --> 00:10:31.460
central bank governor, Tiff Maclum, today, least competent
191
00:10:31.460 --> 00:10:33.620
man in the world, total pencil neck, cannot
192
00:10:33.620 --> 00:10:35.640
bench. It's a man named Tiff? Yeah, don't
193
00:10:35.640 --> 00:10:37.160
ask any questions about that. Please, I don't
194
00:10:37.160 --> 00:10:40.740
have any answers. So he gets on the
195
00:10:40.740 --> 00:10:45.040
soapbox today, him and Carolyn Rogers, our associate.
196
00:10:45.040 --> 00:10:47.560
Is that a man, too? No, no. It's
197
00:10:47.560 --> 00:10:49.060
not like a boy named Sue situation. Never
198
00:10:49.060 --> 00:10:51.400
know with you Canadians. I know. We found
199
00:10:51.400 --> 00:10:53.840
that out before the show. So the thing
200
00:10:53.840 --> 00:10:54.640
I was the thing I was, the thing
201
00:10:54.640 --> 00:10:55.860
I was going to say is that he's
202
00:10:55.860 --> 00:10:57.440
on he's on TV today talking about how
203
00:10:57.440 --> 00:10:59.620
the Canadian economy is, you know, kind of
204
00:10:59.620 --> 00:11:02.280
losing steam and it's everyone's fault except ours.
205
00:11:02.280 --> 00:11:04.160
But what he did say is that we
206
00:11:04.160 --> 00:11:05.440
don't have that much to worry about because
207
00:11:05.440 --> 00:11:06.860
the U .S. economy is going to do
208
00:11:06.860 --> 00:11:08.240
so well, but that's going to drag us
209
00:11:08.240 --> 00:11:10.720
up too. And so if you think about
210
00:11:10.720 --> 00:11:12.780
that comment from the guy next door who,
211
00:11:12.780 --> 00:11:15.920
you know, is ostensibly just like a stenographer
212
00:11:15.920 --> 00:11:17.600
for the liberal party at this point. I
213
00:11:17.600 --> 00:11:19.200
don't know that anyone would call them anything
214
00:11:19.200 --> 00:11:21.000
else. You got to feel pretty good about
215
00:11:21.000 --> 00:11:22.420
your odds of the market continuing to go
216
00:11:22.420 --> 00:11:23.660
up in the states. And that's really what
217
00:11:23.660 --> 00:11:26.400
Bitcoin, you know, is. tied to. Let's let's
218
00:11:26.400 --> 00:11:28.200
have some NGU, man. We need it. We,
219
00:11:28.200 --> 00:11:29.840
you know what? We don't need it. We
220
00:11:29.840 --> 00:11:32.960
deserve it. We deserve it. We've been down
221
00:11:32.960 --> 00:11:35.440
all summer. We deserve a number go up.
222
00:11:35.440 --> 00:11:38.580
Okay. We hung in. We started another podcast.
223
00:11:38.580 --> 00:11:40.780
We're doing our 40 hours per week. The
224
00:11:40.780 --> 00:11:42.440
least that the price could do is go
225
00:11:42.440 --> 00:11:44.180
up. You can, you have two choices. If
226
00:11:44.180 --> 00:11:45.980
you're listening to this show, you have two
227
00:11:45.980 --> 00:11:48.200
choices. If you think about all stuff Ben
228
00:11:48.200 --> 00:11:50.240
just said, you could spend your time listening
229
00:11:50.240 --> 00:11:53.460
to us, drinking beers, shit posting, calling each
230
00:11:53.460 --> 00:11:56.600
other, faking gay. and get it right, like
231
00:11:56.600 --> 00:11:58.580
85 % of the time. Or you could
232
00:11:58.580 --> 00:12:00.620
listen to like Jim Bianco, who's always in
233
00:12:00.620 --> 00:12:02.480
like an ill -fitting suit. He kind of
234
00:12:02.480 --> 00:12:04.420
sounds like Kermit the Frog. And he gets
235
00:12:04.420 --> 00:12:06.440
it wrong, like 85 % of the time.
236
00:12:06.440 --> 00:12:07.820
Or Bank of America. Like, what's the point
237
00:12:07.820 --> 00:12:09.400
of even having Bank of America tweets on
238
00:12:09.400 --> 00:12:12.020
the show? Mike Green. They're always fucking wrong.
239
00:12:12.020 --> 00:12:14.240
They're always fucking wrong. So like, you know,
240
00:12:14.240 --> 00:12:16.240
Bank of America letter or whatever that, you
241
00:12:16.240 --> 00:12:18.160
know, Twitter account was, like get these guys
242
00:12:18.160 --> 00:12:19.680
out of here. Just listen to us. We
243
00:12:19.680 --> 00:12:21.980
get it right. And by the way, you
244
00:12:21.980 --> 00:12:25.120
know, even on the semis thing, we not
245
00:12:25.120 --> 00:12:27.280
always talking about how good AI is? Is
246
00:12:27.280 --> 00:12:29.460
there any doubt that demand for AI is
247
00:12:29.460 --> 00:12:31.280
going to go down? Don't forget, it's not
248
00:12:31.280 --> 00:12:34.640
just pictures of, you know, your fucking grandma
249
00:12:34.640 --> 00:12:37.200
riding a roller coaster, okay, half naked, whatever
250
00:12:37.200 --> 00:12:38.700
you guys are into, not saying I've ever
251
00:12:38.700 --> 00:12:40.380
done that, but maybe you've done that. That's
252
00:12:40.380 --> 00:12:43.240
not just that. It's not just that. It's
253
00:12:43.240 --> 00:12:47.560
like here in Hamilton, McMaster University, leading medical
254
00:12:47.560 --> 00:12:49.900
university on the continent is building a data
255
00:12:49.900 --> 00:12:53.020
center in an old newspaper building for research.
256
00:12:53.020 --> 00:12:55.120
It's going to be at, it's going to
257
00:12:55.120 --> 00:12:57.580
be banks building data centers for back testing.
258
00:12:57.580 --> 00:12:58.760
It's going to be all sorts of stuff.
259
00:12:58.760 --> 00:13:01.780
It's not just anthropic and open AI. It's
260
00:13:01.780 --> 00:13:03.560
everybody who's going to want this stuff. It's
261
00:13:03.560 --> 00:13:05.740
going to drive the prices higher. And guess
262
00:13:05.740 --> 00:13:07.240
what? You know who's not going to be
263
00:13:07.240 --> 00:13:10.480
protesting medical data centers? All these blue -haired
264
00:13:10.480 --> 00:13:12.760
freaks with 40 BMIs. They're going to stay
265
00:13:12.760 --> 00:13:14.840
home for those protests. And you're going to
266
00:13:14.840 --> 00:13:16.220
see the prices and Emmys run up even
267
00:13:16.220 --> 00:13:17.920
more. And that's going to drag us higher,
268
00:13:17.920 --> 00:13:20.540
higher, higher. Did I mention there's an election
269
00:13:20.540 --> 00:13:22.100
in the fall? Someone take the mic away
270
00:13:22.100 --> 00:13:24.560
from me. I can't keep going. I'm sick
271
00:13:24.560 --> 00:13:26.120
to win. My head is spinning. As a
272
00:13:26.120 --> 00:13:28.420
great man once said. Mixing a set. Look,
273
00:13:28.420 --> 00:13:30.040
what I would say in this, this feels
274
00:13:30.040 --> 00:13:31.640
like one of those times, like this is
275
00:13:31.640 --> 00:13:33.180
a, this is a Bitcoin. As much as
276
00:13:33.180 --> 00:13:34.380
we talk about other things, this is still
277
00:13:34.380 --> 00:13:37.440
a Bitcoin podcast slash live stream. Although Nathan,
278
00:13:37.440 --> 00:13:38.580
if you're listening to this, I don't think
279
00:13:38.580 --> 00:13:40.100
you've set up the RSS feed yet. So
280
00:13:40.100 --> 00:13:43.520
technically it's not even a fucking podcast. Adam
281
00:13:43.520 --> 00:13:45.560
Curry is rolling over in his in his
282
00:13:45.560 --> 00:13:48.280
podcast studio right now. Like podcasts aren't supposed
283
00:13:48.280 --> 00:13:52.220
to have video. Anyway, I digress. Shout out
284
00:13:52.220 --> 00:13:56.320
to Adam Curry, the podfather. If you look
285
00:13:56.320 --> 00:13:57.360
at this right now, this is one of
286
00:13:57.360 --> 00:14:00.360
those times, it just feels like where just
287
00:14:00.360 --> 00:14:02.000
even like in a very short period of
288
00:14:02.000 --> 00:14:04.100
time, like a few months from now, we're
289
00:14:04.100 --> 00:14:05.380
going to look back and be like, oh
290
00:14:05.380 --> 00:14:07.680
yeah, I guess it was really obvious. You
291
00:14:07.680 --> 00:14:10.620
should have been stacking your fucking heart out,
292
00:14:10.620 --> 00:14:12.320
right? Like this is one of those times
293
00:14:12.320 --> 00:14:15.800
where we know, like the nice thing about
294
00:14:15.800 --> 00:14:18.600
the Fiat system, as shitty as it is
295
00:14:18.600 --> 00:14:20.360
and funding the war machine and constantly debasing
296
00:14:20.360 --> 00:14:22.680
us. The thing you know about it is
297
00:14:22.680 --> 00:14:22.680
is, is that the thing you know about
298
00:14:22.680 --> 00:14:23.240
it is is, is that the thing you
299
00:14:23.240 --> 00:14:23.260
know about it is, is that the thing
300
00:14:23.260 --> 00:14:23.880
you know about it is. that they have
301
00:14:23.880 --> 00:14:26.760
to keep printing. Like there's some stability in
302
00:14:26.760 --> 00:14:28.500
that. They have to keep kicking the can
303
00:14:28.500 --> 00:14:30.400
down the road or the entire house of
304
00:14:30.400 --> 00:14:34.160
cards falls apart. Like you know that. You
305
00:14:34.160 --> 00:14:36.300
know for a fact the monetary base will
306
00:14:36.300 --> 00:14:40.620
continue to expand forever. You know they won't
307
00:14:40.620 --> 00:14:43.800
let they, like in the US, they will
308
00:14:43.800 --> 00:14:47.260
not let stocks go down too much. They
309
00:14:47.260 --> 00:14:49.260
won't like if stocks start going down too
310
00:14:49.260 --> 00:14:51.340
much, the bit, well, we got it, okay,
311
00:14:51.340 --> 00:14:54.120
we got to start holding security is on
312
00:14:54.120 --> 00:14:55.940
our balance sheet at the Fed. We've got
313
00:14:55.940 --> 00:14:58.620
to do it. It's too critically important to
314
00:14:58.620 --> 00:15:02.240
national security. Like too many people's 401Ks, too
315
00:15:02.240 --> 00:15:03.920
many boomers, this is the thing. If something
316
00:15:03.920 --> 00:15:06.340
hurts the boomers, they won't allow it to
317
00:15:06.340 --> 00:15:08.420
happen. They will not allow it to happen.
318
00:15:08.420 --> 00:15:10.200
If it's bad for the boomers, they won't
319
00:15:10.200 --> 00:15:11.720
allow it to happen. They will never let
320
00:15:11.720 --> 00:15:13.800
stocks go down that much. They will never
321
00:15:13.800 --> 00:15:15.880
let real estate prices go down that much
322
00:15:15.880 --> 00:15:18.160
because that hurts the boomers. When the boomers
323
00:15:18.160 --> 00:15:19.860
are the picture, and maybe it's a different
324
00:15:19.860 --> 00:15:24.040
scenario, then everyone stops caring, right? But like,
325
00:15:24.040 --> 00:15:26.240
until that happens, they will not let anything
326
00:15:26.240 --> 00:15:28.300
happen that hurts the boomers, because the boomers
327
00:15:28.300 --> 00:15:31.120
are in charge. And the boomers, no, Bitcoin
328
00:15:31.120 --> 00:15:32.720
boomers, I'm not talking about you. I want
329
00:15:32.720 --> 00:15:35.080
to clarify, love you, Bitcoin boomers. You guys
330
00:15:35.080 --> 00:15:37.080
are based boomers. But they just won't let
331
00:15:37.080 --> 00:15:40.360
it happen. So like, what's the thesis then?
332
00:15:40.360 --> 00:15:42.460
Is it like, do you think that we're
333
00:15:42.460 --> 00:15:44.560
going to enter this period where everything just
334
00:15:44.560 --> 00:15:48.120
like all asset prices just crash? Because for
335
00:15:48.120 --> 00:15:49.400
whatever reason they decided to let them happen?
336
00:15:49.400 --> 00:15:50.860
No, they're going to use every tool at
337
00:15:50.860 --> 00:15:52.180
their disposal. But the problem is they only
338
00:15:52.180 --> 00:15:54.100
have like one tool. And that's a big
339
00:15:54.100 --> 00:15:56.980
red button that says print on it. Right?
340
00:15:56.980 --> 00:15:59.020
That's, that is it. And yes, I'm oversimplifying.
341
00:15:59.020 --> 00:16:01.060
And yes, bank lending is what's actually, yeah,
342
00:16:01.060 --> 00:16:02.520
okay. Yeah, yeah, we get it. We're simplifying
343
00:16:02.520 --> 00:16:04.560
this, right? Because we've got too many lukewarm
344
00:16:04.560 --> 00:16:07.980
IQs in the room. But, you know, I'm
345
00:16:07.980 --> 00:16:10.380
just talking about Joey, basically. But moral of
346
00:16:10.380 --> 00:16:12.100
the story, I'm just kidding, Joey. Moral the
347
00:16:12.100 --> 00:16:15.680
story is this. I can say with a
348
00:16:15.680 --> 00:16:19.200
high degree of certainty and confidence that in
349
00:16:19.200 --> 00:16:20.600
just a few months you are going to
350
00:16:20.600 --> 00:16:22.660
look back at this time right now and
351
00:16:22.660 --> 00:16:25.200
say damn i should have been stacking more
352
00:16:25.200 --> 00:16:27.280
cheap sats i should have been stacking sats
353
00:16:27.280 --> 00:16:32.540
at what are we at 64 ,951 infinitely
354
00:16:32.540 --> 00:16:35.640
printable federal reserve notes per coin i should
355
00:16:35.640 --> 00:16:37.740
have been stacking more sats and in a
356
00:16:37.740 --> 00:16:39.880
couple of years that's going to be bargain
357
00:16:39.880 --> 00:16:42.200
bin prices man now i'm not saying we
358
00:16:42.200 --> 00:16:44.220
don't maybe hit another low right maybe we
359
00:16:44.220 --> 00:16:46.280
didn't find the bottom maybe 58k wasn't the
360
00:16:46.280 --> 00:16:48.280
bottom i don't know man i'm not a
361
00:16:48.280 --> 00:16:52.280
fucking tea leaf region technical analyst, right? I'm
362
00:16:52.280 --> 00:16:55.160
just saying we're probably, if we're not at
363
00:16:55.160 --> 00:16:58.320
the bottom, we're probably near the bottom. I
364
00:16:58.320 --> 00:17:00.220
think we can all agree on that. If
365
00:17:00.220 --> 00:17:01.620
you go by the cycle thing, okay, the
366
00:17:01.620 --> 00:17:03.160
bottom's going to be in October or whatever
367
00:17:03.160 --> 00:17:05.940
it is. Doesn't fucking matter. All that matters
368
00:17:05.940 --> 00:17:07.720
is that you are stacking as aggressively as
369
00:17:07.720 --> 00:17:10.540
you possibly can right now because what we
370
00:17:10.540 --> 00:17:12.840
know about Bitcoin is once it achieves new
371
00:17:12.840 --> 00:17:16.920
orders of magnitude, like it's done. You're not
372
00:17:16.920 --> 00:17:18.780
going back to that. We're not going back
373
00:17:18.780 --> 00:17:21.620
to to $10 ,000 Bitcoin, right? We're not
374
00:17:21.620 --> 00:17:23.320
going back to $1 ,000 Bitcoin. We're not
375
00:17:23.320 --> 00:17:26.140
going back to $100 Bitcoin. It's not happening.
376
00:17:26.140 --> 00:17:28.800
Like at a certain point, we'll be saying,
377
00:17:28.800 --> 00:17:30.220
oh, I guess we're never going back to
378
00:17:30.220 --> 00:17:34.760
$100 ,000 Bitcoin, right? And when that happens,
379
00:17:34.760 --> 00:17:35.940
what do you want to be telling yourself?
380
00:17:35.940 --> 00:17:37.200
Do you want to be telling yourself, you
381
00:17:37.200 --> 00:17:39.340
know, hey, add a boy. You stacked really
382
00:17:39.340 --> 00:17:40.940
hard while you could when you knew they
383
00:17:40.940 --> 00:17:44.000
were going to print to infinity, right? And
384
00:17:44.000 --> 00:17:46.240
they right now, we're about to enter the
385
00:17:46.240 --> 00:17:48.620
largest confluence of printing we have ever seen
386
00:17:48.620 --> 00:17:50.640
because they are going to have to print
387
00:17:50.640 --> 00:17:53.800
to offset the deflationary gains offered by AI
388
00:17:53.800 --> 00:17:55.460
and robotics at a level that we have
389
00:17:55.460 --> 00:17:58.000
never before seen. And if you don't understand
390
00:17:58.000 --> 00:18:00.280
that thesis and you don't think that's right
391
00:18:00.280 --> 00:18:01.640
and you don't think that they're going to
392
00:18:01.640 --> 00:18:03.560
expand the monetary base at levels we have
393
00:18:03.560 --> 00:18:08.840
never even imagined before, I don't know, have
394
00:18:08.840 --> 00:18:13.720
fun staying poor. They cannot have deflation. No.
395
00:18:13.720 --> 00:18:17.640
No. It doesn't work. People will fucking lose
396
00:18:17.640 --> 00:18:20.540
it. You're there. They're retirement accounts, their houses,
397
00:18:20.540 --> 00:18:21.060
they will fucking lose it. If it's bad
398
00:18:21.060 --> 00:18:22.680
for boomers, they won't let it happen. That's
399
00:18:22.680 --> 00:18:25.120
exactly right. This is the heuristic, guys. Bad
400
00:18:25.120 --> 00:18:27.320
for boomers, it will not happen to any
401
00:18:27.320 --> 00:18:30.940
meaningful degree. Operate under that set of assumptions
402
00:18:30.940 --> 00:18:33.560
and you'll be fine and just buy Bitcoin,
403
00:18:33.560 --> 00:18:37.420
right? Brandon, I want your thoughts, Brandon. Yeah,
404
00:18:37.420 --> 00:18:39.380
I mean, I'll try to add some more
405
00:18:39.380 --> 00:18:41.900
context to it. It's, again, it's the voting
406
00:18:41.900 --> 00:18:43.460
class, right? We talked about this with the
407
00:18:43.460 --> 00:18:46.080
Thomas Massey vote that the, the boomers showed
408
00:18:46.080 --> 00:18:47.660
who still votes at the end of the
409
00:18:47.660 --> 00:18:49.540
day. Trump has said as much about the
410
00:18:49.540 --> 00:18:51.420
house prices itself. The house prices aren't going
411
00:18:51.420 --> 00:18:55.100
down because that's the voting of constituency. The
412
00:18:55.100 --> 00:18:56.580
younger people just don't vote, you know, so
413
00:18:56.580 --> 00:18:57.860
they can bitch in mind wine all they
414
00:18:57.860 --> 00:19:00.520
want, but they don't vote. And like Walker
415
00:19:00.520 --> 00:19:02.560
said, the first sign of anything, the helicopter
416
00:19:02.560 --> 00:19:04.440
drops will be coming in. That's why I
417
00:19:04.440 --> 00:19:06.140
find fascinating. You guys just mentioned you can't
418
00:19:06.140 --> 00:19:08.940
have deflation in a debt -based system. And
419
00:19:08.940 --> 00:19:12.060
this is the IMF paper in 2012, the
420
00:19:12.060 --> 00:19:13.800
financial repression paper and then the Ben Bernanke
421
00:19:13.800 --> 00:19:16.380
paper in 02. And we forget those things.
422
00:19:16.380 --> 00:19:17.560
I mean, yeah, there were 25 years ago,
423
00:19:17.560 --> 00:19:18.860
one of them, and 50s. years ago, the
424
00:19:18.860 --> 00:19:20.340
other one or whatever, but these things are
425
00:19:20.340 --> 00:19:21.800
real. This is, this is the system that
426
00:19:21.800 --> 00:19:23.000
we live in. I don't know why people
427
00:19:23.000 --> 00:19:24.880
fight it so much that it's just, it's
428
00:19:24.880 --> 00:19:27.560
fascinating to me. James Lavish had just posted
429
00:19:27.560 --> 00:19:30.560
something the last day or so, and just
430
00:19:30.560 --> 00:19:32.560
said the US government has spent $827 billion
431
00:19:32.560 --> 00:19:34.760
just on interest on its debt so far
432
00:19:34.760 --> 00:19:37.360
in 2026. The second largest spending item on
433
00:19:37.360 --> 00:19:39.740
pace to be over $1 .1 trillion for
434
00:19:39.740 --> 00:19:42.660
the year. So again, like which which way
435
00:19:42.660 --> 00:19:43.620
do we think this is going? This is
436
00:19:43.620 --> 00:19:46.640
where the only way Bitcoin doesn't work is
437
00:19:46.640 --> 00:19:48.740
if the government all of a sudden, says,
438
00:19:48.740 --> 00:19:50.340
you know what, we are going to 1929
439
00:19:50.340 --> 00:19:51.840
style of depression. We're going to shut off
440
00:19:51.840 --> 00:19:54.100
the currency printers and we're going another direction.
441
00:19:54.100 --> 00:19:55.520
The trend is your friend in investing. So
442
00:19:55.520 --> 00:19:57.100
which which way do we think it's going
443
00:19:57.100 --> 00:19:58.600
to be, truly? I mean, like, all you
444
00:19:58.600 --> 00:19:59.840
have to do is really just sit back
445
00:19:59.840 --> 00:20:01.160
and think about that for two seconds. It
446
00:20:01.160 --> 00:20:03.240
becomes very obvious. So at the first sign
447
00:20:03.240 --> 00:20:05.580
of, and this is where, like the, the
448
00:20:05.580 --> 00:20:06.840
Dumer crowd that we're kind of making fun
449
00:20:06.840 --> 00:20:08.060
of some of these guys earlier, the Peter
450
00:20:08.060 --> 00:20:10.420
Schiffs and the Grand Card, Professor Zhang, you
451
00:20:10.420 --> 00:20:12.160
know, comes out of nowhere. Something's a YouTube
452
00:20:12.160 --> 00:20:13.260
star. And he's saying, there's got to be
453
00:20:13.260 --> 00:20:14.580
a crash. There's going to be all kinds
454
00:20:14.580 --> 00:20:16.780
of crash. Well, yeah, there is a crash,
455
00:20:16.780 --> 00:20:17.820
but it's not the crash that people think
456
00:20:17.820 --> 00:20:20.020
there is. There's an invisible crash happening and
457
00:20:20.020 --> 00:20:22.020
it's everything going to zero against Bitcoin. If
458
00:20:22.020 --> 00:20:23.980
you divide Bitcoin by everything else over the
459
00:20:23.980 --> 00:20:26.160
last 17 years, that's a crash. That's an
460
00:20:26.160 --> 00:20:28.460
invisible crash. Everyone is getting poor if they
461
00:20:28.460 --> 00:20:31.240
do not hold Bitcoin. But that's the crash
462
00:20:31.240 --> 00:20:33.140
and that's the way that people are looking
463
00:20:33.140 --> 00:20:34.360
at the world. You can't see it when
464
00:20:34.360 --> 00:20:35.880
you're on the Titanic. It's impossible. You have
465
00:20:35.880 --> 00:20:37.100
to get on the lifeboat and start moving
466
00:20:37.100 --> 00:20:38.880
away in order to see the ship actually
467
00:20:38.880 --> 00:20:41.280
going down. So to me, that's a big
468
00:20:41.280 --> 00:20:43.160
story. And it's, you know what else is
469
00:20:43.160 --> 00:20:44.540
funny to you, by the way, is when
470
00:20:44.540 --> 00:20:46.040
how many charts, like Ben just showed like
471
00:20:46.040 --> 00:20:47.660
five charts or like there's like a sudden
472
00:20:47.660 --> 00:20:49.920
massive crash. Remember like 20 years ago, 15
473
00:20:49.920 --> 00:20:52.140
years ago, maybe even 10, I don't even,
474
00:20:52.140 --> 00:20:54.200
where it was like, that was like Armageddon,
475
00:20:54.200 --> 00:20:56.040
like you had one chart or one, one,
476
00:20:56.040 --> 00:20:57.160
one circuit breaker was hit. And that was
477
00:20:57.160 --> 00:20:59.180
just like a daily news event. It's just
478
00:20:59.180 --> 00:21:00.240
like, oh yeah, there's like 10 more of
479
00:21:00.240 --> 00:21:02.860
those charts. That's that right there should be
480
00:21:02.860 --> 00:21:06.580
the sign that there was just complete manufacturing,
481
00:21:06.580 --> 00:21:08.780
the economy, perception management, and all kinds of
482
00:21:08.780 --> 00:21:10.660
manipulation going on. The market is manipulation. The
483
00:21:10.660 --> 00:21:13.560
Wall Street is manipulation. So that's where people,
484
00:21:13.560 --> 00:21:15.220
like I respect and have empathy for people
485
00:21:15.220 --> 00:21:16.920
who say, hey, this is going to crash
486
00:21:16.920 --> 00:21:18.500
or the sky is falling. Because yeah, in
487
00:21:18.500 --> 00:21:20.520
a normal world, there's a true merit and
488
00:21:20.520 --> 00:21:23.280
accountability and responsibility and we're on some sound
489
00:21:23.280 --> 00:21:25.280
money standard where there's no manipulation going on
490
00:21:25.280 --> 00:21:27.120
in some alternate universe, then yes, you're right.
491
00:21:27.120 --> 00:21:29.320
These things happening would create a crash or
492
00:21:29.320 --> 00:21:31.100
we'd have this flush out moments and things
493
00:21:31.100 --> 00:21:32.660
would reset, but that's not the world we
494
00:21:32.660 --> 00:21:35.120
live in right now. And so that's to
495
00:21:35.120 --> 00:21:38.460
me, the more people understand that, the better
496
00:21:38.460 --> 00:21:39.480
they're going to be. They're going to position
497
00:21:39.480 --> 00:21:41.060
themselves. I don't know how society is going
498
00:21:41.060 --> 00:21:42.840
to be writ large, but positioning yourself, like
499
00:21:42.840 --> 00:21:45.320
the boy said, getting the cuck bucks, the
500
00:21:45.320 --> 00:21:48.120
65 ,000 cut bucks per, per Bitcoin. That's
501
00:21:48.120 --> 00:21:49.440
the that is the life raft off the
502
00:21:49.440 --> 00:21:51.800
system. So it makes me think too of
503
00:21:51.800 --> 00:21:53.380
the charts, not only that, but I just
504
00:21:53.380 --> 00:21:54.600
as I land the plane here, and the
505
00:21:54.600 --> 00:21:56.360
last thing I'll say is just remember this
506
00:21:56.360 --> 00:21:58.020
is how far we've come as a society.
507
00:21:58.020 --> 00:22:00.140
Another example of it is politics, right? Donald
508
00:22:00.140 --> 00:22:02.460
Trump comes in. Everything Donald Trump does would
509
00:22:02.460 --> 00:22:05.540
have got you completely railroaded right off of
510
00:22:05.540 --> 00:22:07.880
the campaign trial. Remember Howard Dean 22 years
511
00:22:07.880 --> 00:22:10.880
ago and 04 was, you know, yada. Screaming.
512
00:22:10.880 --> 00:22:13.380
Screaming, one screen and the guy's campaign just
513
00:22:13.380 --> 00:22:15.480
gone, see you vanish in the thin air.
514
00:22:15.480 --> 00:22:16.960
So, I mean, that just shows you the
515
00:22:16.960 --> 00:22:18.940
times the times aren't we're not going backward
516
00:22:18.940 --> 00:22:21.420
things have changed and until people really realize
517
00:22:21.420 --> 00:22:22.920
that you're going to have a hard time
518
00:22:22.920 --> 00:22:24.260
it's the the whole south park right when
519
00:22:24.260 --> 00:22:25.520
you you when you're french fried when you're
520
00:22:25.520 --> 00:22:26.640
supposed to pizza it's going to have a
521
00:22:26.640 --> 00:22:29.000
bad time and that's yeah i will say
522
00:22:29.000 --> 00:22:32.260
that the overton window of acceptability uh you
523
00:22:32.260 --> 00:22:34.580
know like there was a time where if
524
00:22:34.580 --> 00:22:36.880
you were on a video podcast and uh
525
00:22:36.880 --> 00:22:38.660
you had too many buttons undone on your
526
00:22:38.660 --> 00:22:41.220
shirt uh you'd be ejected this guy is
527
00:22:41.220 --> 00:22:43.460
yellow fucking hair and that's the overton window
528
00:22:43.460 --> 00:22:47.500
he's picking the shirt's unbelievable oh my God.
529
00:22:47.500 --> 00:22:49.020
This goes back to you want to start
530
00:22:49.020 --> 00:22:53.740
this, Benjamin? I'm jealous because I don't have
531
00:22:53.740 --> 00:22:56.180
buttons to don't. Don't peptides help you grow
532
00:22:56.180 --> 00:22:57.820
a little chest lettuce or does it not
533
00:22:57.820 --> 00:23:01.440
work that way? I'm so I'm glad you
534
00:23:01.440 --> 00:23:02.940
took it another another thing though. This may
535
00:23:02.940 --> 00:23:04.200
be thinking something else too. This is this
536
00:23:04.200 --> 00:23:06.000
is Gary Cardone. God love Gary Cardone kind
537
00:23:06.000 --> 00:23:07.520
of having a half crash out the other
538
00:23:07.520 --> 00:23:08.980
day and I wasn't in the room. I
539
00:23:08.980 --> 00:23:11.300
saw a clip of it. And he's, you
540
00:23:11.300 --> 00:23:13.560
know, again, this from the old world, he
541
00:23:13.560 --> 00:23:14.960
makes a lot of sense and it like
542
00:23:14.960 --> 00:23:16.400
makes a ton of sense from 20 years
543
00:23:16.400 --> 00:23:18.320
but that world doesn't exist anymore. The American
544
00:23:18.320 --> 00:23:22.360
Revolution took 26 years, 1963 or 1763 to
545
00:23:22.360 --> 00:23:25.820
1789 until George Washington became president. And so
546
00:23:25.820 --> 00:23:31.100
26 years from 2009 is 2035. and you
547
00:23:31.100 --> 00:23:31.980
can look at all your models you can
548
00:23:31.980 --> 00:23:33.760
do, but that's this demographic shift we're going
549
00:23:33.760 --> 00:23:36.060
through where this doesn't just happen overnight. So
550
00:23:36.060 --> 00:23:38.100
you know, Gary's mad about people aren't in
551
00:23:38.100 --> 00:23:39.400
suits and we're not going to attract the
552
00:23:39.400 --> 00:23:41.940
right people. This isn't happening overnight. It's a
553
00:23:41.940 --> 00:23:44.200
bunch of Yahoo's grabbing their muskets, a one
554
00:23:44.200 --> 00:23:45.800
percent of the population being like, hey, a
555
00:23:45.800 --> 00:23:47.200
few man, a bunch of of drunk hillbillies
556
00:23:47.200 --> 00:23:48.440
that come out from their ranch and be
557
00:23:48.440 --> 00:23:50.320
like, I ain't doing this anymore. What are
558
00:23:50.320 --> 00:23:51.600
you going to do about it? That doesn't
559
00:23:51.600 --> 00:23:53.640
happen overnight and it doesn't just change overnight.
560
00:23:53.640 --> 00:23:55.180
So that's where it's like these clashing of
561
00:23:55.180 --> 00:23:57.160
generations, the clashing of the different thoughts and
562
00:23:57.160 --> 00:23:58.840
the old world versus the new world. This
563
00:23:58.840 --> 00:24:00.940
is, you know, the makers versus the takers,
564
00:24:00.940 --> 00:24:02.180
the people that are going to, you know,
565
00:24:02.180 --> 00:24:04.020
produce things or consume things. That's the world
566
00:24:04.020 --> 00:24:06.080
we are entering going forward. And until people
567
00:24:06.080 --> 00:24:07.600
really wake up and realize that, which will
568
00:24:07.600 --> 00:24:09.960
take another or what, nine years, you know,
569
00:24:09.960 --> 00:24:11.500
five, nine, you know, 10, 15 years of
570
00:24:11.500 --> 00:24:13.220
people realizing this, that to me is the
571
00:24:13.220 --> 00:24:16.520
timeline we're on. Backchats getting wild here. are
572
00:24:16.520 --> 00:24:21.660
just totally but nonetheless joey joey you want
573
00:24:21.660 --> 00:24:23.480
to do yeah let me cake so you
574
00:24:23.480 --> 00:24:26.420
talked about the uh the wild swings in
575
00:24:26.420 --> 00:24:28.300
where was it like korea or something one
576
00:24:28.300 --> 00:24:30.320
of these like asian markets these can one
577
00:24:30.320 --> 00:24:32.540
of these kangaroo currencies there i think the
578
00:24:32.540 --> 00:24:34.540
other reason you see this in in foreign
579
00:24:34.540 --> 00:24:36.740
markets basically anything is in the u .s
580
00:24:36.740 --> 00:24:38.980
is because these guys like would you be
581
00:24:38.980 --> 00:24:43.060
surprised now to see basically an absolutely devastating
582
00:24:43.060 --> 00:24:45.900
drop between tomorrow and friday and to see
583
00:24:45.900 --> 00:24:49.060
the you know, the role of like the,
584
00:24:49.060 --> 00:24:52.340
the, uh, the redeployment of those assets sold
585
00:24:52.340 --> 00:24:54.980
in Korea take shape and like a little
586
00:24:54.980 --> 00:24:56.260
bit of a gain in the U .S.
587
00:24:56.260 --> 00:24:57.900
market. It just feels to me like that's
588
00:24:57.900 --> 00:25:00.320
happening more and more and more. Like everyone's
589
00:25:00.320 --> 00:25:02.360
trying to get out of basically anything that's
590
00:25:02.360 --> 00:25:05.000
not US dollars denominated and into that market,
591
00:25:05.000 --> 00:25:06.240
right? I see it here in Canada all
592
00:25:06.240 --> 00:25:07.880
the time. Like I went out for lunch
593
00:25:07.880 --> 00:25:09.420
yesterday with someone I will not name and
594
00:25:09.420 --> 00:25:12.560
just talking about like Canadian companies want to
595
00:25:12.560 --> 00:25:14.720
expand into the U .S. They want to,
596
00:25:14.720 --> 00:25:16.020
they want to set up shop in the
597
00:25:16.020 --> 00:25:17.720
U .S. they want to buy U .S.
598
00:25:17.720 --> 00:25:19.360
companies. If you're a distressed investor, you're looking
599
00:25:19.360 --> 00:25:21.600
at U .S. assets and not just necessarily
600
00:25:21.600 --> 00:25:24.560
like debt or bonds from companies. Like I'm
601
00:25:24.560 --> 00:25:26.240
not talking about, you know, companies that are
602
00:25:26.240 --> 00:25:29.220
selling, selling debt notes because they need to
603
00:25:29.220 --> 00:25:31.620
raise capital. I'm talking like companies that are
604
00:25:31.620 --> 00:25:34.600
considering Chapter 11 and, you know, maybe have
605
00:25:34.600 --> 00:25:38.340
some, some good products or a good C
606
00:25:38.340 --> 00:25:40.040
-suite, you know, group that wants to stay
607
00:25:40.040 --> 00:25:41.820
in it. Like people want to be in
608
00:25:41.820 --> 00:25:43.920
that market at almost any cost. And so
609
00:25:43.920 --> 00:25:45.800
I wouldn't be surprised if you see more
610
00:25:45.800 --> 00:25:48.020
volatility. not less. Like you said, the When
611
00:25:48.020 --> 00:25:50.640
Money Dies thesis basically calls for this. Because
612
00:25:50.640 --> 00:25:53.400
people are just taking any profits they can
613
00:25:53.400 --> 00:25:55.120
and getting the fuck out of these kangaroo
614
00:25:55.120 --> 00:25:57.000
markets. that's got to be what's happening, at
615
00:25:57.000 --> 00:25:58.680
least in part. Yeah. Well, I mean, what
616
00:25:58.680 --> 00:26:00.600
was it? There's a stat something like 40
617
00:26:00.600 --> 00:26:02.920
% of Canadian businesses are looking at moving
618
00:26:02.920 --> 00:26:05.040
to the U .S. Yeah. Yeah. That's a
619
00:26:05.040 --> 00:26:07.100
bit loaded because I think of this, I
620
00:26:07.100 --> 00:26:09.620
think the data doesn't account for the companies
621
00:26:09.620 --> 00:26:12.740
that already have operations in the US, which
622
00:26:12.740 --> 00:26:14.180
was a huge chunk of the surveyed. But
623
00:26:14.180 --> 00:26:15.560
I mean, even still, you'd still want those
624
00:26:15.560 --> 00:26:17.720
companies to say, we're thinking about opening more
625
00:26:17.720 --> 00:26:19.900
doors in Canada, but they're not. They're going
626
00:26:19.900 --> 00:26:21.900
to lean more and more into that market.
627
00:26:21.900 --> 00:26:23.500
And why not? We've talked about like the
628
00:26:23.500 --> 00:26:26.380
GDP numbers in Canada. We're poorer per capita
629
00:26:26.380 --> 00:26:28.560
than like Bama, I think. I mean, roll
630
00:26:28.560 --> 00:26:30.160
tide, but come the fuck on. You don't
631
00:26:30.160 --> 00:26:31.920
want to be living like in Alabamian, I
632
00:26:31.920 --> 00:26:33.820
don't think, right? That's not where you want
633
00:26:33.820 --> 00:26:36.160
to be be. It's not. It's not. You'd
634
00:26:36.160 --> 00:26:38.160
rather be living like there's many states that
635
00:26:38.160 --> 00:26:41.000
have a stronger sort of per capita expectation
636
00:26:41.000 --> 00:26:43.240
for quality of life and earnings and stuff.
637
00:26:43.240 --> 00:26:44.740
Like that's where you want to be. But
638
00:26:44.740 --> 00:26:47.540
I think in Ontario, the average is around
639
00:26:47.540 --> 00:26:50.080
that Alabama number, or could be even worse.
640
00:26:50.080 --> 00:26:51.480
Like, is there a worse thing? Yeah, you
641
00:26:51.480 --> 00:26:53.280
guys, you guys wish you were as good
642
00:26:53.280 --> 00:26:57.900
as Alabama. Well, if Nick say, actually, because
643
00:26:57.900 --> 00:26:59.920
it sucks that bad here. It's okay. The
644
00:26:59.920 --> 00:27:03.300
UK's also poorer than Mississippi. Shout to Mississippi.
645
00:27:03.300 --> 00:27:05.620
You're fucking, you're richer. If you live in
646
00:27:05.620 --> 00:27:09.320
Mississippi, then the fucking British Empire. Like, what
647
00:27:09.320 --> 00:27:10.940
an amiss. You're not just a spelling the
648
00:27:10.940 --> 00:27:13.480
question. Mississippi is great, but the British Empire.
649
00:27:13.480 --> 00:27:17.880
Big. Yeah. City of London, am I right?
650
00:27:17.880 --> 00:27:21.480
Exactly. All right. All right, gents. I'm going
651
00:27:21.480 --> 00:27:23.900
to take us to a quick break here.
652
00:27:23.900 --> 00:27:25.400
On the other side of the jump, a
653
00:27:25.400 --> 00:27:28.500
couple things. One of them were I was
654
00:27:28.500 --> 00:27:31.120
chatting off the hop about U .S. Treasury
655
00:27:31.120 --> 00:27:37.680
Department, potentially leaning into putting out this dragnet
656
00:27:37.680 --> 00:27:41.100
surveillance. And we're getting this info from somebody
657
00:27:41.100 --> 00:27:46.680
who's no stranger to challenging state. level surveillance.
658
00:27:46.680 --> 00:27:48.460
So we'll chat about that. I also want
659
00:27:48.460 --> 00:27:50.980
to just chat. We kind of touched on
660
00:27:50.980 --> 00:27:53.560
it a little bit, economy -wise, and the
661
00:27:53.560 --> 00:27:58.580
impact of semiconductors and AI and everything like
662
00:27:58.580 --> 00:28:00.680
that. I want to get your guys' thoughts
663
00:28:00.680 --> 00:28:05.480
on what's happening with Claude and Fable and
664
00:28:05.480 --> 00:28:09.660
the competitors coming out and how that dynamic
665
00:28:09.660 --> 00:28:11.520
is working out. So we're going to touch
666
00:28:11.520 --> 00:28:12.560
on that on the other side of the
667
00:28:12.560 --> 00:28:16.320
break. Of course, if you are here in
668
00:28:16.320 --> 00:28:18.000
the chat, of course, we love to see
669
00:28:18.000 --> 00:28:20.200
it. Glad to see you guys. Glad to
670
00:28:20.200 --> 00:28:23.060
be back. If you can, smash the like.
671
00:28:23.060 --> 00:28:25.780
Give this the share wherever you can. And
672
00:28:25.780 --> 00:28:30.100
we will be back in just a moment.
673
00:28:30.100 --> 00:28:32.220
Bitcoin Well is the best place to be
674
00:28:32.220 --> 00:28:34.720
buying and selling Bitcoin in Canada and the
675
00:28:34.720 --> 00:28:37.540
U .S. And now with Bitcoin Well Infinite,
676
00:28:37.540 --> 00:28:39.780
it's also the best place to be making
677
00:28:39.780 --> 00:28:42.460
large buys at their OTC desk of over
678
00:28:42.460 --> 00:28:45.800
$50 ,000. Their white glove service gives you
679
00:28:45.800 --> 00:28:50.240
fast transactions, no slippage, and the lowest fees.
680
00:28:50.240 --> 00:28:51.740
You can scan the QR code on the
681
00:28:51.740 --> 00:28:55.080
screen or simply head to Bitcoinwell .com slash
682
00:28:55.080 --> 00:28:57.980
BTC Sessions to sign up today. And you
683
00:28:57.980 --> 00:29:00.580
can share your own personalized referral link to
684
00:29:00.580 --> 00:29:05.340
earn commissions. Coin Kite has been in the
685
00:29:05.340 --> 00:29:08.360
game for years creating hands down the best
686
00:29:08.360 --> 00:29:10.960
and most secure hardware when it comes to
687
00:29:10.960 --> 00:29:14.320
securing your Bitcoin. The cold card Q is
688
00:29:14.320 --> 00:29:17.580
an absolute powerhouse and my daily driver, and
689
00:29:17.580 --> 00:29:21.740
it's ideal for newcomers and advanced users alike.
690
00:29:21.740 --> 00:29:24.480
The tap signer gives you a low -cost,
691
00:29:24.480 --> 00:29:26.780
user -friendly option for those just getting started
692
00:29:26.780 --> 00:29:29.460
or for convenience when traveling. You can head
693
00:29:29.460 --> 00:29:32.200
to coincite .com and use code BTC sessions
694
00:29:32.200 --> 00:29:34.860
for discounts or simply scan the QR code
695
00:29:34.860 --> 00:29:38.760
on the screen to get started right away.
696
00:29:38.760 --> 00:29:41.540
One company I like pointing people to when
697
00:29:41.540 --> 00:29:44.840
they ask about Bitcoin, is abundant mines. They
698
00:29:44.840 --> 00:29:47.280
were founded by Bo and Christine Turner after
699
00:29:47.280 --> 00:29:49.600
losing over half a million dollars to broken
700
00:29:49.600 --> 00:29:52.240
promises in the mining industry, and they built
701
00:29:52.240 --> 00:29:55.160
their hosting model to remove the usual headaches.
702
00:29:55.160 --> 00:29:57.800
With abundant mines, you own your machines and
703
00:29:57.800 --> 00:30:00.440
keep 100 % of the Bitcoin you mine.
704
00:30:00.440 --> 00:30:03.540
There's no revenue share, no hidden skims. Pricing
705
00:30:03.540 --> 00:30:06.780
is simple. One flat monthly fee covers power,
706
00:30:06.780 --> 00:30:10.560
parts, labor, and repairs. They also guarantee uptime.
707
00:30:10.560 --> 00:30:12.400
If a machine goes down, their hash rate
708
00:30:12.400 --> 00:30:15.200
redirect system routes hash power from their fleet
709
00:30:15.200 --> 00:30:18.000
so earnings don't just stop. And every machine
710
00:30:18.000 --> 00:30:21.620
is insured at full replacement value. Everything is
711
00:30:21.620 --> 00:30:23.760
hosted in the U .S. powered by hydro
712
00:30:23.760 --> 00:30:27.140
and mining equipment may qualify for 100 %
713
00:30:27.140 --> 00:30:30.960
year one bonus depreciation. Learn more at abundant
714
00:30:30.960 --> 00:30:36.480
minds .com slash sessions. All right, boys, we
715
00:30:36.480 --> 00:30:38.840
are back. I wanted to chat a little
716
00:30:38.840 --> 00:30:41.860
bit first before we get into a, uh,
717
00:30:41.860 --> 00:30:44.660
uh, uh, this dragnet surveillance stuff. A little
718
00:30:44.660 --> 00:30:47.240
bit about what's going on in the AI
719
00:30:47.240 --> 00:30:50.600
world. I'm diving into a whole bunch of
720
00:30:50.600 --> 00:30:52.800
this stuff coming up in a few short
721
00:30:52.800 --> 00:30:55.720
weeks here. I'm going to be launching the
722
00:30:55.720 --> 00:30:58.920
sister channel, Sovereign Session. Super stoked about that,
723
00:30:58.920 --> 00:31:02.080
how to use pretty much everything privately on
724
00:31:02.080 --> 00:31:06.180
top of Bitcoin tutorials. But I'm curious about
725
00:31:06.180 --> 00:31:10.920
the dynamic here. So we have Fable. It
726
00:31:10.920 --> 00:31:13.740
was released by, by Anthropic and then rug
727
00:31:13.740 --> 00:31:15.540
pulled by the U .S. government because it
728
00:31:15.540 --> 00:31:18.080
was quote unquote too dangerous. They wanted to
729
00:31:18.080 --> 00:31:19.380
look through it and now they're kind of
730
00:31:19.380 --> 00:31:23.960
limiting access. The deal was that they were
731
00:31:23.960 --> 00:31:26.960
going to limit access for regular plans up
732
00:31:26.960 --> 00:31:31.480
until the 7th of July. And then they
733
00:31:31.480 --> 00:31:37.180
suddenly extended that just recently. And that happened
734
00:31:37.180 --> 00:31:40.740
at the same time that you have open
735
00:31:40.740 --> 00:31:45.780
AI dropping 5 .6 chat gbt 5 .6,
736
00:31:45.780 --> 00:31:48.840
which is obviously competition and it's part of
737
00:31:48.840 --> 00:31:52.540
your regular plan. Now on top of that,
738
00:31:52.540 --> 00:31:56.180
we've also got just the, what was this,
739
00:31:56.180 --> 00:31:59.160
just a week ago or so? I haven't
740
00:31:59.160 --> 00:32:01.800
used this yet, but GROC 4 .5. And
741
00:32:01.800 --> 00:32:03.920
they got some benchmarks here. It's not as
742
00:32:03.920 --> 00:32:08.540
good as GPT or Fable, but it's better
743
00:32:08.540 --> 00:32:12.580
than Opus. which was the previous anthropic model.
744
00:32:12.580 --> 00:32:16.080
So you've got all this competition going on,
745
00:32:16.080 --> 00:32:18.480
but at the same time, we all know
746
00:32:18.480 --> 00:32:23.120
that these plans are subsidized to shit. So
747
00:32:23.120 --> 00:32:25.520
when does the rubber meet the road? Like,
748
00:32:25.520 --> 00:32:27.320
what is the end game here and what
749
00:32:27.320 --> 00:32:29.260
does that mean for the average person? What
750
00:32:29.260 --> 00:32:31.540
do you guys think? Maybe I'll toss it
751
00:32:31.540 --> 00:32:33.500
to Joey first and then we'll get Brandon
752
00:32:33.500 --> 00:32:37.400
and Walker in. Okay, on Grock, I would
753
00:32:37.400 --> 00:32:39.820
say until they have a desktop harness, it's
754
00:32:39.820 --> 00:32:42.720
not, retail, like it's a retail product only
755
00:32:42.720 --> 00:32:44.320
and not something you can actually like work
756
00:32:44.320 --> 00:32:46.540
with. one of the reasons that people like,
757
00:32:46.540 --> 00:32:48.680
you know, chat ChbT and Claude is because
758
00:32:48.680 --> 00:32:51.240
there's some continuity and the UI lends itself
759
00:32:51.240 --> 00:32:53.500
to extended project work, which is probably what
760
00:32:53.500 --> 00:32:56.300
we all use it for. That's a big
761
00:32:56.300 --> 00:32:58.140
thing. I can't, I cannot figure out for
762
00:32:58.140 --> 00:32:59.880
the life of me why I have to
763
00:32:59.880 --> 00:33:01.360
go to the GROC website or use the
764
00:33:01.360 --> 00:33:03.920
GROC app to do something instead of, you
765
00:33:03.920 --> 00:33:06.220
know, having a nice desktop harness. That's, you
766
00:33:06.220 --> 00:33:07.860
know, maybe a personal beef of mine, but
767
00:33:07.860 --> 00:33:10.620
whatever. On the fable side, you know, the
768
00:33:10.620 --> 00:33:12.620
Anthropic was king of the hill there for
769
00:33:12.620 --> 00:33:15.140
probably, what, three months, four months, five months,
770
00:33:15.140 --> 00:33:20.900
something like that. They, you know, they've tried
771
00:33:20.900 --> 00:33:22.980
to execute what I would call it an
772
00:33:22.980 --> 00:33:27.680
interesting but ultimately poorly thought out strategy where
773
00:33:27.680 --> 00:33:31.060
instead of trying to capture senators, they tried
774
00:33:31.060 --> 00:33:35.200
to scare the public into putting chains around
775
00:33:35.200 --> 00:33:38.560
their competitors under the guise of safety. You
776
00:33:38.560 --> 00:33:42.200
know, you will remember, obviously when that mythos
777
00:33:42.200 --> 00:33:44.040
release was that was like what almost six
778
00:33:44.040 --> 00:33:47.500
months ago now probably or close everyone was
779
00:33:47.500 --> 00:33:49.880
talking about we found all these vulnerabilities and
780
00:33:49.880 --> 00:33:51.980
stuff like ffm peg and a few Linux
781
00:33:51.980 --> 00:33:56.060
distros the thing is that you know a
782
00:33:56.060 --> 00:33:59.720
frozen distro or something like ffm peg that
783
00:33:59.720 --> 00:34:02.540
hasn't really had like a meaningful code review
784
00:34:02.540 --> 00:34:04.940
in 20 years like yeah there's going to
785
00:34:04.940 --> 00:34:06.560
be stuff in there it doesn't necessarily mean
786
00:34:06.560 --> 00:34:09.080
the software is no longer usable or unsafe
787
00:34:09.080 --> 00:34:10.920
it might just mean that there's something there
788
00:34:10.920 --> 00:34:13.400
that was, you know, left for dead by
789
00:34:13.400 --> 00:34:15.660
a developer and kind of forgotten about or
790
00:34:15.660 --> 00:34:18.460
something of that nature. If it was really
791
00:34:18.460 --> 00:34:20.440
as bad as everyone says, I mean, wouldn't
792
00:34:20.440 --> 00:34:23.500
we have seen just this wave of updates
793
00:34:23.500 --> 00:34:26.360
in software for the companies who got access
794
00:34:26.360 --> 00:34:29.400
to that model, you know, among those companies,
795
00:34:29.400 --> 00:34:33.280
Amazon, Apple, Microsoft, Google, we didn't get any
796
00:34:33.280 --> 00:34:35.760
of that. I never once got a, you
797
00:34:35.760 --> 00:34:37.920
must update your iPhone now. Instead, I get
798
00:34:37.920 --> 00:34:39.780
to just get to change the, you know,
799
00:34:39.780 --> 00:34:42.720
the tint on the liquid glass thing, which
800
00:34:42.720 --> 00:34:44.700
I fucking hate, by the way, but whatever.
801
00:34:44.700 --> 00:34:47.140
Like, that's the only update I get. On
802
00:34:47.140 --> 00:34:48.960
the side of like the capability of the
803
00:34:48.960 --> 00:34:53.560
models themselves, I think, you know, one of
804
00:34:53.560 --> 00:34:55.960
the things that we in Bitcoin understand, and
805
00:34:55.960 --> 00:34:57.340
I think a lot of other people in
806
00:34:57.340 --> 00:34:59.720
tech understand this, too, is this 10x role.
807
00:34:59.720 --> 00:35:01.080
I've talked about this before, but it bears
808
00:35:01.080 --> 00:35:02.980
repeating. If you're going to switch from something,
809
00:35:02.980 --> 00:35:05.060
a product that, you know, functions similarly to
810
00:35:05.060 --> 00:35:07.460
the product you're using, two things have to
811
00:35:07.460 --> 00:35:08.360
be true. You have to be able to
812
00:35:08.360 --> 00:35:10.780
do it frictionless. So, for example, carry your
813
00:35:10.780 --> 00:35:14.340
clawed skills or your projects, your memory, you
814
00:35:14.340 --> 00:35:17.140
know, the, I think it's a technical term,
815
00:35:17.140 --> 00:35:18.840
over to the new service. But also, that
816
00:35:18.840 --> 00:35:20.920
service has to be 10 times better. It's
817
00:35:20.920 --> 00:35:22.160
just, it's not going to be enough for
818
00:35:22.160 --> 00:35:23.640
you to show me a bar chart where
819
00:35:23.640 --> 00:35:25.260
there's like a bit of a jump between
820
00:35:25.260 --> 00:35:27.760
5 .5 and 5 .6. And by the
821
00:35:27.760 --> 00:35:29.960
way, I think polymarketer Cali she has the
822
00:35:29.960 --> 00:35:32.760
likelihood that Opus 5 comes out in the
823
00:35:32.760 --> 00:35:36.680
next two weeks at like 85%. The one
824
00:35:36.680 --> 00:35:38.180
thing, maybe I'll leave it, I'll leave it
825
00:35:38.180 --> 00:35:41.000
here. There's been. nothing better for retail than
826
00:35:41.000 --> 00:35:43.080
to watch these guys go back and forth
827
00:35:43.080 --> 00:35:44.900
over the top of each other to get
828
00:35:44.900 --> 00:35:46.600
this right and try and make this work
829
00:35:46.600 --> 00:35:49.640
for people. The only outstanding question in my
830
00:35:49.640 --> 00:35:51.920
mind now is who's going to let me
831
00:35:51.920 --> 00:35:55.000
do on popular things with their model and
832
00:35:55.000 --> 00:35:56.340
when am I going to be allowed to
833
00:35:56.340 --> 00:35:58.960
do it without, you know, any interference from
834
00:35:58.960 --> 00:36:01.100
you? That's the only thing that matters to
835
00:36:01.100 --> 00:36:02.420
me now. And I've tried some of these
836
00:36:02.420 --> 00:36:05.160
other models like Quinn. It's fine, but it
837
00:36:05.160 --> 00:36:07.720
doesn't do the same quality of work on
838
00:36:07.720 --> 00:36:10.220
extended projects that these other guys do. I
839
00:36:10.220 --> 00:36:12.100
just want to use it and be left
840
00:36:12.100 --> 00:36:14.640
alone. That's the thing that I'm popular things
841
00:36:14.640 --> 00:36:16.200
do you want to do with it, Joey.
842
00:36:16.200 --> 00:36:19.660
You know what's funny? I bought, shout out
843
00:36:19.660 --> 00:36:23.780
to BlazeBods, free advertising here on Bitcast. And
844
00:36:23.780 --> 00:36:26.140
there's a subscription service for these you're supposed
845
00:36:26.140 --> 00:36:27.280
to use if you want to do like
846
00:36:27.280 --> 00:36:30.440
real, I guess, like difficult or programmed, like
847
00:36:30.440 --> 00:36:32.700
agility and reaction work. And so I had
848
00:36:32.700 --> 00:36:35.100
this thing try and code me up a
849
00:36:35.100 --> 00:36:37.180
app to use with the BlazePod instead of
850
00:36:37.180 --> 00:36:39.360
having to pay for their subscription. Right away.
851
00:36:39.360 --> 00:36:41.860
me down to 4 .8 from Fable. And
852
00:36:41.860 --> 00:36:43.660
it's like, I kind of get it, but
853
00:36:43.660 --> 00:36:46.480
also, come on. Like, if I told you,
854
00:36:46.480 --> 00:36:47.940
I just want like an app for something
855
00:36:47.940 --> 00:36:49.980
and told you the code base that I
856
00:36:49.980 --> 00:36:51.800
wanted you to use or like refer to
857
00:36:51.800 --> 00:36:54.580
or the interfaces I wanted you to make
858
00:36:54.580 --> 00:36:56.680
sure that there was like interoperability with. It
859
00:36:56.680 --> 00:36:57.780
wouldn't have been a problem. But I used
860
00:36:57.780 --> 00:36:59.720
the brand name and that was where you
861
00:36:59.720 --> 00:37:02.720
guys drew the line. That's frustrating. Because as
862
00:37:02.720 --> 00:37:06.600
we know, these guys, especially Anthropic, are loaning
863
00:37:06.600 --> 00:37:09.220
their higher -end models. I think like mythos
864
00:37:09.220 --> 00:37:12.680
level models are at least cheaper token cost
865
00:37:12.680 --> 00:37:15.780
fable models to like left wing NGOs in
866
00:37:15.780 --> 00:37:19.420
the states. Like those left wing NGOs doing
867
00:37:19.420 --> 00:37:22.020
YouTube thumbnails and, you know, packaging for their
868
00:37:22.020 --> 00:37:26.160
videos? No, they're actively by their own, like
869
00:37:26.160 --> 00:37:28.940
by their own admission on camera trying to,
870
00:37:28.940 --> 00:37:31.040
and like the example, like these DSA's example,
871
00:37:31.040 --> 00:37:33.940
Democratic Socialists of America. Or Walker, we're calling
872
00:37:33.940 --> 00:37:38.200
the Democratic retards of America. I don't know.
873
00:37:38.200 --> 00:37:39.520
Those guys are on camera saying we got
874
00:37:39.520 --> 00:37:41.620
to destroy America from the inside and anthropists
875
00:37:41.620 --> 00:37:44.920
only here. You have the cheap. Yeah. Meanwhile,
876
00:37:44.920 --> 00:37:46.820
Joe Walker Brandon, you got to pay full
877
00:37:46.820 --> 00:37:48.820
price for your stuff. It's fun. Give me
878
00:37:48.820 --> 00:37:51.640
a break. Well, okay, so a perfect example
879
00:37:51.640 --> 00:37:58.840
of getting throttled down. I asked, I was
880
00:37:58.840 --> 00:38:03.440
on Fable initially. For someone worried about totalitarian
881
00:38:03.440 --> 00:38:07.480
surveillance and censorship and censorship state, it would
882
00:38:07.480 --> 00:38:10.140
be the device. as applications, operating system, software
883
00:38:10.140 --> 00:38:12.840
habits, and anything else I may have missed,
884
00:38:12.840 --> 00:38:14.960
that I should be learning about in a
885
00:38:14.960 --> 00:38:18.700
true attempt to censor, how many would stand
886
00:38:18.700 --> 00:38:20.880
up and still function and how many would
887
00:38:20.880 --> 00:38:23.140
likely fail? Where do they fall short? And
888
00:38:23.140 --> 00:38:25.760
what could be built in their stead? And
889
00:38:25.760 --> 00:38:30.440
it replied with, Fable safeguards flagged this message.
890
00:38:30.440 --> 00:38:32.620
The safeguards are intentionally broad right now and
891
00:38:32.620 --> 00:38:35.660
may flag safe and routine coding, cybersecurity, or
892
00:38:35.660 --> 00:38:39.620
biology work. These measures, bring you mythos level
893
00:38:39.620 --> 00:38:42.940
capabilities sooner. And we're working to refine them.
894
00:38:42.940 --> 00:38:45.780
So I got fucked from that. But funny
895
00:38:45.780 --> 00:38:51.500
enough, Walker, you retweeted that with this. This
896
00:38:51.500 --> 00:38:54.660
is wild. So this is me getting my
897
00:38:54.660 --> 00:38:57.860
cocked response because they didn't want me using
898
00:38:57.860 --> 00:39:03.540
a good model to get good advice. And
899
00:39:03.540 --> 00:39:05.860
Walker, maybe I'll let you talk about this.
900
00:39:05.860 --> 00:39:09.280
Who is this? and uh yes this is
901
00:39:09.280 --> 00:39:10.400
a journalist and it was funny because i
902
00:39:10.400 --> 00:39:12.820
saw uh the sovereign sessions make sure to
903
00:39:12.820 --> 00:39:16.000
subscribe to sovereign sessions if you like being
904
00:39:16.000 --> 00:39:19.960
sovereign in sessions but i i saw ben's
905
00:39:19.960 --> 00:39:21.500
post from the account and then i saw
906
00:39:21.500 --> 00:39:24.400
this shortly thereafter basically this is a journalist
907
00:39:24.400 --> 00:39:27.240
who went and embedded with uh boca roam
908
00:39:27.240 --> 00:39:30.640
like the you know the terrorist organization and
909
00:39:30.640 --> 00:39:33.300
the whole thing is about how they're like
910
00:39:33.300 --> 00:39:36.600
using this for all these terrorist things and
911
00:39:36.600 --> 00:39:38.840
I've, I've, I know if I have that,
912
00:39:38.840 --> 00:39:40.660
I've got the thread saved somewhere. But at
913
00:39:40.660 --> 00:39:43.040
one point in the thread, like the journalist
914
00:39:43.040 --> 00:39:44.180
asked them like, you know, how did you
915
00:39:44.180 --> 00:39:45.860
get around the sacred? They're like, well, we
916
00:39:45.860 --> 00:39:47.840
just told them it was for research or
917
00:39:47.840 --> 00:39:51.380
whatever. But like clearly, like they're asking like,
918
00:39:51.380 --> 00:39:54.140
there was a lot of stuff. But it's
919
00:39:54.140 --> 00:39:56.640
like, oh, we like increased the payload capacity,
920
00:39:56.640 --> 00:39:58.500
the bombs we were building because we used
921
00:39:58.500 --> 00:40:01.640
like better, you know, better chemical combinations and
922
00:40:01.640 --> 00:40:03.440
all these things. And it's like, how is
923
00:40:03.440 --> 00:40:08.500
it possible that terrorist cells like known dangerous
924
00:40:08.500 --> 00:40:11.180
terrorist cells that you probably have like i
925
00:40:11.180 --> 00:40:12.680
don't know you should be able to trace
926
00:40:12.680 --> 00:40:14.740
where their IP addresses are coming from right
927
00:40:14.740 --> 00:40:16.720
like i don't know if they're like they
928
00:40:16.720 --> 00:40:18.360
were asked they also asked stuff like how
929
00:40:18.360 --> 00:40:20.460
do we jump a motorcycle over a ditch
930
00:40:20.460 --> 00:40:22.000
and it's like i think you build a
931
00:40:22.000 --> 00:40:23.840
fucking jump for like some of this stuff
932
00:40:23.840 --> 00:40:25.600
was really stupid and you're like dear lord
933
00:40:25.600 --> 00:40:28.040
these the terrorists are not sending their best
934
00:40:28.040 --> 00:40:30.260
um but apparently AI is able to help
935
00:40:30.260 --> 00:40:33.180
them build build bombs and shit with way
936
00:40:33.180 --> 00:40:36.240
higher payloads and it's like the the juxtaposition
937
00:40:36.240 --> 00:40:38.640
of that where it's like oh yeah i
938
00:40:38.640 --> 00:40:40.460
said this was for research so it's okay
939
00:40:40.460 --> 00:40:43.220
and there i said yeah go here you
940
00:40:43.220 --> 00:40:43.880
go here you go here's how you would
941
00:40:43.880 --> 00:40:45.400
increase the payload capacity of this you know
942
00:40:45.400 --> 00:40:48.100
this chemical chemical bomb but then you're like
943
00:40:48.100 --> 00:40:50.100
hey how do i just like prevent myself
944
00:40:50.100 --> 00:40:51.960
from being raw do dog by the state
945
00:40:51.960 --> 00:40:55.380
and they're like oh sorry sorry that we
946
00:40:55.380 --> 00:40:57.380
got to flag that one we can't have
947
00:40:57.380 --> 00:40:59.240
you asking those sorts of questions because the
948
00:40:59.240 --> 00:41:00.700
state's going to bend you over a barrel
949
00:41:00.700 --> 00:41:03.060
and show you the 50 states uh like
950
00:41:03.060 --> 00:41:05.260
it's just insane to me it's fucking insane
951
00:41:05.260 --> 00:41:06.620
it's just kind of it's like a of
952
00:41:06.620 --> 00:41:08.480
the times too where it's like none of
953
00:41:08.480 --> 00:41:10.940
it none of the safety measures are about
954
00:41:10.940 --> 00:41:13.360
actual safety none of the protect the kids
955
00:41:13.360 --> 00:41:15.760
things are about protecting the kids none of
956
00:41:15.760 --> 00:41:17.540
it is real all of it is just
957
00:41:17.540 --> 00:41:20.060
fake and done under the guise of safety
958
00:41:20.060 --> 00:41:22.040
or somebody's safety but really it's just for
959
00:41:22.040 --> 00:41:23.760
how can we make sure you are as
960
00:41:23.760 --> 00:41:27.040
helpless as possible when the hammer of totalitarianism
961
00:41:27.040 --> 00:41:28.940
comes down and like that's what it comes
962
00:41:28.940 --> 00:41:30.660
down but i just thought the juxtaposition of
963
00:41:30.660 --> 00:41:32.680
seeing those like one after another was just
964
00:41:32.680 --> 00:41:36.380
like dear lord like what a joke what
965
00:41:36.380 --> 00:41:38.860
a joke does it feel like the boca
966
00:41:38.860 --> 00:41:40.960
haram is getting they get mythos and we
967
00:41:40.960 --> 00:41:42.280
don't or like we're just got stuck with
968
00:41:42.280 --> 00:41:43.960
table five like that's what it's what it
969
00:41:43.960 --> 00:41:45.140
feels like to me a little bit like
970
00:41:45.140 --> 00:41:46.480
i and i think you guys kind of
971
00:41:46.480 --> 00:41:48.180
alluded to in a way we're at the
972
00:41:48.180 --> 00:41:50.640
the the 3d printing gun moment i can't
973
00:41:50.640 --> 00:41:51.960
remember the guy's name i forgot to look
974
00:41:51.960 --> 00:41:53.560
it up a minute ago but uh went
975
00:41:53.560 --> 00:41:55.780
all the supreme court you know is are
976
00:41:55.780 --> 00:41:57.680
the blueprints are they free speech yeah we
977
00:41:57.680 --> 00:41:59.840
fought these battles with the cypherpunks uh you
978
00:41:59.840 --> 00:42:01.620
know back in the 90s obviously we're still
979
00:42:01.620 --> 00:42:04.220
continuing fighting these but we're at that moment
980
00:42:04.220 --> 00:42:06.500
and at what point you know because again
981
00:42:06.500 --> 00:42:07.920
we joke about the city of london and
982
00:42:07.920 --> 00:42:09.040
a lot of these things that go on
983
00:42:09.040 --> 00:42:11.360
but how come how come it's constantly this
984
00:42:11.360 --> 00:42:13.160
division or how come it's constantly like we
985
00:42:13.160 --> 00:42:15.140
have a toe on the scale here but
986
00:42:15.140 --> 00:42:17.020
over here you can do whatever you want
987
00:42:17.020 --> 00:42:18.560
with it you can you know oh it's
988
00:42:18.560 --> 00:42:20.660
for research but over here that that to
989
00:42:20.660 --> 00:42:22.400
me is is just again the people that
990
00:42:22.400 --> 00:42:25.140
run things that have zero faith in society
991
00:42:25.140 --> 00:42:27.340
right they don't trust anyone with any of
992
00:42:27.340 --> 00:42:29.140
this but but for them it's okay and
993
00:42:29.140 --> 00:42:31.260
that we see this theme throughout society over
994
00:42:31.260 --> 00:42:33.120
and over and over again and that's what
995
00:42:33.120 --> 00:42:34.860
i think again the younger generation is waking
996
00:42:34.860 --> 00:42:37.000
up to uh it just we're sick of
997
00:42:37.000 --> 00:42:39.080
being beat over the head for 50 60
998
00:42:39.080 --> 00:42:41.560
70 100 years of well you know what's
999
00:42:41.560 --> 00:42:42.900
what's good for me but not for v
1000
00:42:42.900 --> 00:42:45.220
and that just it's coming to an end
1001
00:42:45.220 --> 00:42:46.740
you you can't keep this stuff in a
1002
00:42:46.740 --> 00:42:47.740
bottle and it feels like a lot of
1003
00:42:47.740 --> 00:42:49.800
this AI stuff is their marketing gimmicks you
1004
00:42:49.800 --> 00:42:51.580
know there's there's definitely toes on scales in
1005
00:42:51.580 --> 00:42:53.620
certain areas and there's not there's no trust
1006
00:42:53.620 --> 00:42:56.000
with certain areas but then there's also because
1007
00:42:56.000 --> 00:42:57.520
why would you give vocal around the ability
1008
00:42:57.520 --> 00:42:59.160
to do that right because you want to
1009
00:42:59.160 --> 00:43:01.640
foment division you want to foment distraction and
1010
00:43:01.640 --> 00:43:03.220
division like why do you turn on fox
1011
00:43:03.220 --> 00:43:05.020
news and all of a sudden they're just
1012
00:43:05.020 --> 00:43:06.120
the other just the other day like a
1013
00:43:06.120 --> 00:43:08.300
random new jersey mom is kidnapped and killed
1014
00:43:08.300 --> 00:43:09.720
or something like something something you know horrific
1015
00:43:09.720 --> 00:43:11.660
but why is that a national news like
1016
00:43:11.660 --> 00:43:15.440
all of us should be we have to
1017
00:43:15.440 --> 00:43:18.640
fix some something that affects eight billion people
1018
00:43:18.640 --> 00:43:21.260
and yet we're distracting it's the same kind
1019
00:43:21.260 --> 00:43:22.640
of bullshit that we deal with over and
1020
00:43:22.640 --> 00:43:24.460
over and over and so honestly like for
1021
00:43:24.460 --> 00:43:25.480
me i i've i've lost a little bit
1022
00:43:25.480 --> 00:43:27.040
of interest with AI just over the last
1023
00:43:27.040 --> 00:43:29.900
month or two and to me it's like
1024
00:43:29.900 --> 00:43:31.360
i was i was building some badass stuff
1025
00:43:31.360 --> 00:43:32.740
but then you just you find yourself just
1026
00:43:32.740 --> 00:43:34.260
like running in circles with a lot of
1027
00:43:34.260 --> 00:43:35.680
it just like i've already told you this
1028
00:43:35.680 --> 00:43:37.320
a hundred times you keep making the same
1029
00:43:37.320 --> 00:43:39.820
mistakes over and over and over i'm building
1030
00:43:39.820 --> 00:43:41.180
back and stuff for my wife who's an
1031
00:43:41.180 --> 00:43:44.720
attorney you know like these the analyzation program
1032
00:43:44.720 --> 00:43:46.360
to read you know all these you know
1033
00:43:46.360 --> 00:43:48.320
documents it's like you can't even do simple
1034
00:43:48.320 --> 00:43:50.100
stuff you can't even like just can't just
1035
00:43:50.100 --> 00:43:52.020
duct tape this together please and like it
1036
00:43:52.020 --> 00:43:52.880
can't even do it can't even do it
1037
00:43:52.880 --> 00:43:54.680
and so that to me is i i
1038
00:43:54.680 --> 00:43:56.440
think if it's maybe government in bed with
1039
00:43:56.440 --> 00:43:58.880
the marketing company's trying to uh bring people
1040
00:43:58.880 --> 00:44:01.540
to the american AI companies and they as
1041
00:44:01.540 --> 00:44:03.720
obviously a threat there are certain levels of
1042
00:44:03.720 --> 00:44:05.940
this where that there's actually real things going
1043
00:44:05.940 --> 00:44:07.720
on and i think it's just them trying
1044
00:44:07.720 --> 00:44:09.860
to bring attention together in bed together government
1045
00:44:09.860 --> 00:44:11.580
and the american AI companies that try to
1046
00:44:11.580 --> 00:44:13.500
fight this but for me i think there's
1047
00:44:13.500 --> 00:44:15.840
massive abundance companies there's great things that can
1048
00:44:15.840 --> 00:44:17.580
happen and will happen going forward but you
1049
00:44:17.580 --> 00:44:18.980
have to unleash the people like like the
1050
00:44:18.980 --> 00:44:20.600
boys just mentioned you've got to unleash the
1051
00:44:20.600 --> 00:44:23.060
people and to me like how are people
1052
00:44:23.060 --> 00:44:24.900
really hurting at this point like you have
1053
00:44:24.900 --> 00:44:26.120
a i you can build a lot of
1054
00:44:26.120 --> 00:44:27.480
amazing things you can get it have it
1055
00:44:27.480 --> 00:44:29.180
do a lot of things for you and
1056
00:44:29.180 --> 00:44:30.240
you have like you think of as a
1057
00:44:30.240 --> 00:44:31.140
as a a 20 -year -old who joked
1058
00:44:31.140 --> 00:44:33.300
about before too if you really wanted to
1059
00:44:33.300 --> 00:44:35.160
collapse the system system and you really didn't
1060
00:44:35.160 --> 00:44:36.880
have a job and you were really hurting
1061
00:44:36.880 --> 00:44:38.740
then when did you go to the wmba
1062
00:44:38.740 --> 00:44:40.880
and be and just just destroy everything and
1063
00:44:40.880 --> 00:44:42.280
just collapse it from the inside wouldn't you
1064
00:44:42.280 --> 00:44:43.440
and your 20 -year -old buddies have a
1065
00:44:43.440 --> 00:44:44.900
few beers and like hey you know like
1066
00:44:44.900 --> 00:44:46.860
i know we should go do that or
1067
00:44:46.860 --> 00:44:49.240
maybe i go use AI which is what
1068
00:44:49.240 --> 00:44:50.880
20 bucks a month a hundred bucks a
1069
00:44:50.880 --> 00:44:52.540
month depending what you're using and go build
1070
00:44:52.540 --> 00:44:53.840
a bunch of cool shit that to me
1071
00:44:53.840 --> 00:44:55.340
is just mind -blowing or how we haven't
1072
00:44:55.340 --> 00:44:57.840
seen any of those things happen and are
1073
00:44:57.840 --> 00:44:59.480
people hurting enough i don't know the answer
1074
00:44:59.480 --> 00:45:00.720
to that but it just it feels like
1075
00:45:00.720 --> 00:45:02.880
there's there's some you know prank or unpunked
1076
00:45:02.880 --> 00:45:04.420
or something like that going on where it
1077
00:45:04.420 --> 00:45:05.680
there should be more of that there should
1078
00:45:05.680 --> 00:45:07.140
be more innovation i don't know where it's
1079
00:45:07.140 --> 00:45:08.640
being stifled or where the toes on the
1080
00:45:08.640 --> 00:45:10.480
scale exactly but that to me is just
1081
00:45:10.480 --> 00:45:13.240
it's alarming all the innovation right now is
1082
00:45:13.240 --> 00:45:15.180
in um call of duty black ops two
1083
00:45:15.180 --> 00:45:18.440
emblem building so i think if we want
1084
00:45:18.440 --> 00:45:20.960
innovators we need like the level of guard
1085
00:45:20.960 --> 00:45:22.680
rails you see over there which is fucking
1086
00:45:22.680 --> 00:45:24.920
none that's where all the innovation is right
1087
00:45:24.920 --> 00:45:28.300
now wild i love it i love it
1088
00:45:28.300 --> 00:45:30.320
uh i will i will i will uh
1089
00:45:30.320 --> 00:45:34.500
again encourage people to while it's not as
1090
00:45:34.500 --> 00:45:39.140
um as capable as the frontier models i
1091
00:45:39.140 --> 00:45:43.700
will encourage people uh to go ahead and
1092
00:45:43.700 --> 00:45:48.460
check out uh both private and self -hosted
1093
00:45:48.460 --> 00:45:51.620
options for AI for lighter work um so
1094
00:45:51.620 --> 00:45:54.000
when it comes to like self -hosted using
1095
00:45:54.000 --> 00:45:54.960
something like el -hasted can you can you
1096
00:45:54.960 --> 00:45:56.100
give me an example of what you would
1097
00:45:56.100 --> 00:45:59.180
call lighter work well okay so like if
1098
00:45:59.180 --> 00:46:02.900
i'm I'll give personal examples here when I'm
1099
00:46:02.900 --> 00:46:07.520
planning tutorials. Okay so oftentimes I will know
1100
00:46:07.520 --> 00:46:10.200
the thing that I want to cover and
1101
00:46:10.200 --> 00:46:12.620
I'll just kind of like basically vomit out
1102
00:46:12.620 --> 00:46:14.500
all the stuff that I want to cover
1103
00:46:14.500 --> 00:46:17.300
it completely out of order unorganized. I'll be
1104
00:46:17.300 --> 00:46:18.460
like I want to do this and this
1105
00:46:18.460 --> 00:46:20.060
and this and this and this and this.
1106
00:46:20.060 --> 00:46:22.820
And so what what I've kind of built
1107
00:46:22.820 --> 00:46:26.400
for myself is actually a bit of an
1108
00:46:26.400 --> 00:46:28.700
app that helps me plan that. And so
1109
00:46:28.700 --> 00:46:32.400
I used Frontier models to build myself out
1110
00:46:32.400 --> 00:46:35.380
an app to basically duplicate something called a
1111
00:46:35.380 --> 00:46:39.640
whisper. So just like dictation that cleans it
1112
00:46:39.640 --> 00:46:43.060
up and everything. But then when it comes
1113
00:46:43.060 --> 00:46:46.980
to actually kind of putting together the actual
1114
00:46:46.980 --> 00:46:49.960
plan and just ordering it out and making
1115
00:46:49.960 --> 00:46:53.300
it make sense, I can do it locally
1116
00:46:53.300 --> 00:46:56.300
pretty well with a lot of models that
1117
00:46:56.300 --> 00:46:58.160
I'm running just on my machine with LM
1118
00:46:58.160 --> 00:47:02.980
Studio. But when it comes to creativity, some
1119
00:47:02.980 --> 00:47:05.720
of the open models that you can use
1120
00:47:05.720 --> 00:47:09.620
privately with something like Maple, they're actually really
1121
00:47:09.620 --> 00:47:12.340
good in terms of just like creative writing.
1122
00:47:12.340 --> 00:47:14.100
I don't need to worry about it being
1123
00:47:14.100 --> 00:47:15.840
kind of fucked up. If I'm doing deep,
1124
00:47:15.840 --> 00:47:18.180
deep research of like, how the hell does
1125
00:47:18.180 --> 00:47:20.660
this tool actually work? And I need to
1126
00:47:20.660 --> 00:47:23.080
build an app or something. I'm probably going
1127
00:47:23.080 --> 00:47:26.040
to be going to some of the frontier
1128
00:47:26.040 --> 00:47:30.080
stuff. But when it comes to. to like
1129
00:47:30.080 --> 00:47:33.860
building out my exactly what I want to
1130
00:47:33.860 --> 00:47:35.760
do as I'm putting together tutorial. You can
1131
00:47:35.760 --> 00:47:37.720
literally see like some of the tutorials I'm
1132
00:47:37.720 --> 00:47:39.760
working on here. If you need like pre
1133
00:47:39.760 --> 00:47:43.320
-workout mix in Funcial, that's a good, good
1134
00:47:43.320 --> 00:47:47.780
one. Yeah, exactly. Exactly. Yes, exactly. But I
1135
00:47:47.780 --> 00:47:50.440
mean like this, I was surprised at the
1136
00:47:50.440 --> 00:47:54.460
capabilities of some of the creativity here. And
1137
00:47:54.460 --> 00:47:57.160
like you can, you can choose different types
1138
00:47:57.160 --> 00:48:01.000
of models that they have available here. PBQ
1139
00:48:01.000 --> 00:48:02.700
is another one where you can use this
1140
00:48:02.700 --> 00:48:06.100
privately. You can pay in Bitcoin and you
1141
00:48:06.100 --> 00:48:07.620
know, you can run it locally. And then
1142
00:48:07.620 --> 00:48:11.100
I do have like a pretty decent laptop
1143
00:48:11.100 --> 00:48:14.680
here. So I am running some slightly larger
1144
00:48:14.680 --> 00:48:17.020
models on it. But you know, for basic
1145
00:48:17.020 --> 00:48:20.900
like parsing through a document, organizing thoughts and
1146
00:48:20.900 --> 00:48:23.180
kind of, you know, that kind of stuff,
1147
00:48:23.180 --> 00:48:25.280
you don't need anything, especially if you're a
1148
00:48:25.280 --> 00:48:27.740
person who's like, I use this as like
1149
00:48:27.740 --> 00:48:30.940
a glorified Google. Like you don't you don't
1150
00:48:30.940 --> 00:48:35.100
need fable, right? You just, like you're searching
1151
00:48:35.100 --> 00:48:36.620
shit up and you're just making your life
1152
00:48:36.620 --> 00:48:39.220
easier and just finding stuff. You don't need
1153
00:48:39.220 --> 00:48:41.660
that kind of stuff available to you. So
1154
00:48:41.660 --> 00:48:43.400
yeah, I don't know, just keep that in
1155
00:48:43.400 --> 00:48:47.420
mind. Yeah. Nonetheless, I do want to pivot
1156
00:48:47.420 --> 00:48:48.940
a little bit because I wanted to touch
1157
00:48:48.940 --> 00:48:52.240
on a front of the show, Francis Pouliott,
1158
00:48:52.240 --> 00:48:55.620
CEO of Bull Bitcoin. Obviously, they are suing
1159
00:48:55.620 --> 00:49:00.160
the French government. because of their rollout of
1160
00:49:00.160 --> 00:49:04.480
DAC 8. Rather than me explain what he's
1161
00:49:04.480 --> 00:49:07.300
doing, I'm going to play this clip, a
1162
00:49:07.300 --> 00:49:09.940
short one here, and then we'll continue on.
1163
00:49:09.940 --> 00:49:13.140
Our objective is to repeal the implementation of
1164
00:49:13.140 --> 00:49:15.640
DAC 8 in France, which would, in effect,
1165
00:49:15.640 --> 00:49:18.580
prevent or exempt Bull Bitcoin from complying with
1166
00:49:18.580 --> 00:49:20.820
this regulation. And if we lose at the
1167
00:49:20.820 --> 00:49:22.480
French court level, we're going to take this
1168
00:49:22.480 --> 00:49:24.600
to the European Court of Justice, which is
1169
00:49:24.600 --> 00:49:26.460
the higher judicial authority in Europe. And this
1170
00:49:26.460 --> 00:49:27.860
is not like a frivolous law. that we're
1171
00:49:27.860 --> 00:49:29.300
doing for marketing. We have very good chances
1172
00:49:29.300 --> 00:49:30.600
of winning this because there's like a lot
1173
00:49:30.600 --> 00:49:32.500
of legal precedence. DAC 8 is a purely
1174
00:49:32.500 --> 00:49:34.500
European thing, but I also want to remind
1175
00:49:34.500 --> 00:49:36.300
the viewers that this is actually coming to
1176
00:49:36.300 --> 00:49:38.340
the United States as well in 2029. Carf
1177
00:49:38.340 --> 00:49:40.080
is coming to the US. Pretty much every
1178
00:49:40.080 --> 00:49:42.080
major developed nation are going to have their
1179
00:49:42.080 --> 00:49:44.060
own version of DAC 8. So we're starting
1180
00:49:44.060 --> 00:49:46.640
with France as the first opening salvo of
1181
00:49:46.640 --> 00:49:49.360
this battle, but soon after we're probably going
1182
00:49:49.360 --> 00:49:51.760
to be looking at challenging this constitutionally in
1183
00:49:51.760 --> 00:49:54.240
Canada. And hopefully someone in the US also
1184
00:49:54.240 --> 00:49:56.080
does a constitutional challenge. Although as far as
1185
00:49:56.080 --> 00:49:58.180
I know, all is the only legal challenge
1186
00:49:58.180 --> 00:50:04.300
of CARF anywhere on Earth. Yeah, so I
1187
00:50:04.300 --> 00:50:07.640
mean, terrifying that they are the only ones
1188
00:50:07.640 --> 00:50:11.320
stepping up right here. But again, like this
1189
00:50:11.320 --> 00:50:14.140
is this is coming whether you like it
1190
00:50:14.140 --> 00:50:19.200
or not. And so, again, I would implore
1191
00:50:19.200 --> 00:50:23.660
other people to step up and do something
1192
00:50:23.660 --> 00:50:28.080
here on state side. but yeah the United
1193
00:50:28.080 --> 00:50:30.520
States Treasury Department and the IRS are preparing
1194
00:50:30.520 --> 00:50:32.980
to implement the equivalent of DAC 8 or
1195
00:50:32.980 --> 00:50:37.020
CARF in the USA by 2029. And he's
1196
00:50:37.020 --> 00:50:40.180
he's calling out which US crypto exchange is
1197
00:50:40.180 --> 00:50:43.400
going to fight this. Does anyone even care?
1198
00:50:43.400 --> 00:50:46.880
If you're unfamiliar with DAC8, basically think like
1199
00:50:46.880 --> 00:50:52.060
blanket dragnet surveillance, like any transaction in or
1200
00:50:52.060 --> 00:50:56.760
out of an exchange, all. all centered in
1201
00:50:56.760 --> 00:50:59.960
a big honeypot. So you can paint a
1202
00:50:59.960 --> 00:51:03.820
picture of what everyone has and every single
1203
00:51:03.820 --> 00:51:06.100
fucking thing that they do. Did you did
1204
00:51:06.100 --> 00:51:08.460
you see Ben the website that they have
1205
00:51:08.460 --> 00:51:11.340
up there? They actually paint a pretty clear
1206
00:51:11.340 --> 00:51:13.040
picture of why they're doing it. And you'd
1207
00:51:13.040 --> 00:51:14.980
be surprised. Most of the time, like Walker
1208
00:51:14.980 --> 00:51:16.360
said earlier, we've talked about this bunch on
1209
00:51:16.360 --> 00:51:18.620
the show. Well, they usually have behind safety,
1210
00:51:18.620 --> 00:51:20.440
terrorist funding, all this. It's right on the
1211
00:51:20.440 --> 00:51:21.660
website that they want to do it because
1212
00:51:21.660 --> 00:51:23.960
they don't think people are paying their taxes.
1213
00:51:23.960 --> 00:51:26.000
So Walker, it was either Walker or Brandon
1214
00:51:26.000 --> 00:51:28.320
who mentioned that they had that letter or
1215
00:51:28.320 --> 00:51:30.660
report like in 2020 or 2021 that if
1216
00:51:30.660 --> 00:51:32.020
we don't get a hold of this now,
1217
00:51:32.020 --> 00:51:33.020
we're not going to be able to fund
1218
00:51:33.020 --> 00:51:35.840
the state operations anymore. And here they are
1219
00:51:35.840 --> 00:51:38.120
now, you know, almost a decade later, half
1220
00:51:38.120 --> 00:51:40.320
a decade later. And it's right. It's in
1221
00:51:40.320 --> 00:51:41.840
the first paragraph. They're not even trying to
1222
00:51:41.840 --> 00:51:43.920
bury it anywhere. Just we are worried that
1223
00:51:43.920 --> 00:51:45.340
we're not going to be able to exercise
1224
00:51:45.340 --> 00:51:48.320
the authority that a tax regime should be
1225
00:51:48.320 --> 00:51:50.040
able to exercise if we keep letting this
1226
00:51:50.040 --> 00:51:51.760
fly under the radar. So we got to
1227
00:51:51.760 --> 00:51:53.800
stop it. That's all they care about. And
1228
00:51:53.800 --> 00:51:57.240
sovereign individual mentions this too. Taxes are the
1229
00:51:57.240 --> 00:51:59.100
most important thing to these guys. And it's
1230
00:51:59.100 --> 00:52:03.980
not, it has nothing to do with putting
1231
00:52:03.980 --> 00:52:08.620
services in front of citizens. Like the saying
1232
00:52:08.620 --> 00:52:11.000
I always use is like the tax receipts
1233
00:52:11.000 --> 00:52:13.400
are closer to being able to just replace
1234
00:52:13.400 --> 00:52:14.860
sewer grades than they are to being able
1235
00:52:14.860 --> 00:52:17.600
to run social welfare programs. What they want
1236
00:52:17.600 --> 00:52:22.100
is people who are like punitively humiliated by
1237
00:52:22.100 --> 00:52:23.580
how. having to give 50 % of their
1238
00:52:23.580 --> 00:52:25.880
fucking income to the state so that, you
1239
00:52:25.880 --> 00:52:27.540
know, a Somalian can stab you in the
1240
00:52:27.540 --> 00:52:29.800
neck on the subway, which by the way,
1241
00:52:29.800 --> 00:52:32.260
is running late again. Like this is exactly
1242
00:52:32.260 --> 00:52:34.100
what what this is all about. It's it's
1243
00:52:34.100 --> 00:52:35.840
fucking insane, man. So good for these guys
1244
00:52:35.840 --> 00:52:40.760
for stepping up. It's, sorry, it is just,
1245
00:52:40.760 --> 00:52:41.880
it is, it is, it is, it is,
1246
00:52:41.880 --> 00:52:41.900
it is just, it is, it is, it
1247
00:52:41.900 --> 00:52:42.680
is, it is exactly right. Because it is
1248
00:52:42.680 --> 00:52:45.600
genuinely absurd. Like the, the, the whole idea
1249
00:52:45.600 --> 00:52:46.700
that like so much, at least in the
1250
00:52:46.700 --> 00:52:49.740
US, you know, your, if you know, your
1251
00:52:49.740 --> 00:52:50.700
employee, you know, your employee, you're a W2
1252
00:52:50.700 --> 00:52:53.920
employee, you're a tax. are just taken out,
1253
00:52:53.920 --> 00:52:55.220
you know, by your employer as part of
1254
00:52:55.220 --> 00:52:57.560
the payroll process that's handled for you. You
1255
00:52:57.560 --> 00:52:59.760
get the net, right? Like, it wasn't always
1256
00:52:59.760 --> 00:53:02.980
like that. And, you know, the tinfoil hat
1257
00:53:02.980 --> 00:53:04.540
time, it's like, if you, and if you
1258
00:53:04.540 --> 00:53:06.960
run a, like, if you have a, you
1259
00:53:06.960 --> 00:53:08.300
know, your own small business, you have an
1260
00:53:08.300 --> 00:53:09.840
LLC and you have to, like, pay your
1261
00:53:09.840 --> 00:53:12.640
estimated taxes in advance, and you actually have
1262
00:53:12.640 --> 00:53:15.400
to, like, press that send button to send
1263
00:53:15.400 --> 00:53:17.420
the government a big lump sum, you know,
1264
00:53:17.420 --> 00:53:20.220
every quarter, it's like, that's a very painful
1265
00:53:20.220 --> 00:53:22.440
process. to be like, yep, here's this big
1266
00:53:22.440 --> 00:53:24.160
thing I'm sending. But people have just been
1267
00:53:24.160 --> 00:53:26.000
lulled into this idea that like, well, you
1268
00:53:26.000 --> 00:53:27.280
know, tax would just come out and this
1269
00:53:27.280 --> 00:53:28.960
is what I get afterwards. And maybe if
1270
00:53:28.960 --> 00:53:30.600
I'm lucky, Daddy IRS will give me some
1271
00:53:30.600 --> 00:53:31.920
money back. It's like, no, it's not give
1272
00:53:31.920 --> 00:53:34.160
you, it's your fucking money. It took too
1273
00:53:34.160 --> 00:53:36.740
much your fucking money. Like, oh, and don't
1274
00:53:36.740 --> 00:53:38.220
do anything wrong because then you'll get fucking
1275
00:53:38.220 --> 00:53:39.820
audited. But like, you know, we're not going
1276
00:53:39.820 --> 00:53:41.660
to audit like, you know, the fine art
1277
00:53:41.660 --> 00:53:43.380
market or anything like that where all the
1278
00:53:43.380 --> 00:53:45.620
actual tax evasion happens. Like, no, no, no,
1279
00:53:45.620 --> 00:53:47.320
we're not going to do that. We're going
1280
00:53:47.320 --> 00:53:48.780
to make sure that we're monitoring your $200
1281
00:53:48.780 --> 00:53:51.800
transaction pleb because that's what really fucking matters.
1282
00:53:51.800 --> 00:53:54.040
But it's a control mechanism. And if people
1283
00:53:54.040 --> 00:53:56.840
actually had the pain of having to press
1284
00:53:56.840 --> 00:53:58.800
that send button and send the government money
1285
00:53:58.800 --> 00:54:01.480
every paycheck or every quarter or whatever it
1286
00:54:01.480 --> 00:54:03.000
was, instead of it just being taken out
1287
00:54:03.000 --> 00:54:06.320
of their, for their W -2, like, we
1288
00:54:06.320 --> 00:54:08.620
wouldn't, people wouldn't stand for it as much.
1289
00:54:08.620 --> 00:54:10.460
But we've just been sort of lulled along.
1290
00:54:10.460 --> 00:54:12.000
And it's like, you know, well, you know,
1291
00:54:12.000 --> 00:54:13.520
we just, you know, we just all want
1292
00:54:13.520 --> 00:54:14.840
to get along and, you know, taxes are
1293
00:54:14.840 --> 00:54:16.020
just part of it. It's like, and for
1294
00:54:16.020 --> 00:54:19.000
fucking what? For what? Like to fund wars
1295
00:54:19.000 --> 00:54:20.820
you didn't agree to, to pay for fucking
1296
00:54:20.820 --> 00:54:23.620
fraudulent Somali daycares, like to pay for a
1297
00:54:23.620 --> 00:54:25.820
bunch of fucking woke judges who are going
1298
00:54:25.820 --> 00:54:27.700
to let a guy out after his 69th
1299
00:54:27.700 --> 00:54:29.500
fucking arrest to go stab somebody in the
1300
00:54:29.500 --> 00:54:31.500
neck again? Like, what are you doing it
1301
00:54:31.500 --> 00:54:33.520
for? What are you doing it for? The
1302
00:54:33.520 --> 00:54:34.760
government should be a hell of a lot
1303
00:54:34.760 --> 00:54:36.160
smaller, at least the problem in the states
1304
00:54:36.160 --> 00:54:38.140
right now that I see one of them.
1305
00:54:38.140 --> 00:54:40.020
And, you know, the United States isn't perfect,
1306
00:54:40.020 --> 00:54:40.980
but it's still the, you know, it's the
1307
00:54:40.980 --> 00:54:42.680
skinniest kid at Fat Camp, pretty's horse to
1308
00:54:42.680 --> 00:54:44.000
the glue factory. It's still the best of
1309
00:54:44.000 --> 00:54:45.840
the worst. It is the greatest country in
1310
00:54:45.840 --> 00:54:48.200
the world. Sorry to all the Europors and
1311
00:54:48.200 --> 00:54:51.600
Canadians and whatever other countries exist out there
1312
00:54:51.600 --> 00:54:52.580
who are going to be like, well, you
1313
00:54:52.580 --> 00:54:54.500
know, by what metric? And it's like, by
1314
00:54:54.500 --> 00:54:56.860
every fucking metric, read a fucking book. Like,
1315
00:54:56.860 --> 00:54:59.020
you know, your country will fall to totalitarianism
1316
00:54:59.020 --> 00:55:01.020
or Sharia law a long time before America
1317
00:55:01.020 --> 00:55:02.860
does, get over it, or do something about
1318
00:55:02.860 --> 00:55:06.000
it. But the point is, it's like, no
1319
00:55:06.000 --> 00:55:07.600
side of the political spectrum in the United
1320
00:55:07.600 --> 00:55:10.180
States right now is actually advocating for smaller
1321
00:55:10.180 --> 00:55:13.680
government. They're both just like social, like, super
1322
00:55:13.680 --> 00:55:16.820
socialist or like slightly less socialist, but a
1323
00:55:16.820 --> 00:55:18.680
little more based. And we're like, well, that's
1324
00:55:18.680 --> 00:55:20.620
good enough for me. It's like, no, fuck
1325
00:55:20.620 --> 00:55:23.240
that. What happened to like small C conservative?
1326
00:55:23.240 --> 00:55:24.360
Like, hey, you know what? Maybe the government
1327
00:55:24.360 --> 00:55:25.860
should be as small as as humanly fucking
1328
00:55:25.860 --> 00:55:28.140
possible. Because the bigger the government gets, the
1329
00:55:28.140 --> 00:55:29.420
bigger it will continue to get because the
1330
00:55:29.420 --> 00:55:31.840
government just votes for more government and pays
1331
00:55:31.840 --> 00:55:34.660
for like, fuck. I don't know, end of
1332
00:55:34.660 --> 00:55:36.980
rant because it just fucking pisses me off.
1333
00:55:36.980 --> 00:55:39.060
You should like the government should be fucking
1334
00:55:39.060 --> 00:55:42.740
smaller. The government is fundamentally unproductive and parasitic
1335
00:55:42.740 --> 00:55:45.200
because it creates nothing of value by itself.
1336
00:55:45.200 --> 00:55:46.500
If you think the government's there to build
1337
00:55:46.500 --> 00:55:50.320
the roads, you're fucking stupid. End of Randall.
1338
00:55:50.320 --> 00:55:52.720
Walker, I think you're completely right on the
1339
00:55:52.720 --> 00:55:55.080
needing to push the button to send because
1340
00:55:55.080 --> 00:55:57.020
what are we seeing? Anybody who's running a
1341
00:55:57.020 --> 00:56:00.700
business, as we said earlier in Canada, everybody
1342
00:56:00.700 --> 00:56:04.200
is like up and out. Like as soon
1343
00:56:04.200 --> 00:56:07.040
as you actually have to be like, geez,
1344
00:56:07.040 --> 00:56:10.440
I have all this. And now I have
1345
00:56:10.440 --> 00:56:14.160
to siphon off half of it. It's it's
1346
00:56:14.160 --> 00:56:18.040
that realization. If it's it's the same. I
1347
00:56:18.040 --> 00:56:22.400
mean, it's. it's a very human reaction to
1348
00:56:22.400 --> 00:56:25.740
want to put in extra work to keep
1349
00:56:25.740 --> 00:56:29.900
something that you perceive as losing that you
1350
00:56:29.900 --> 00:56:33.660
already had, as opposed to working something that
1351
00:56:33.660 --> 00:56:35.560
you perceive you never had in the first
1352
00:56:35.560 --> 00:56:38.000
place. Right. And we saw this even over
1353
00:56:38.000 --> 00:56:40.840
at BTC Mentor just in terms of charging
1354
00:56:40.840 --> 00:56:43.560
in Bitcoin. And we were giving a fiat
1355
00:56:43.560 --> 00:56:48.780
premium. And we had 50 % of, of
1356
00:56:48.780 --> 00:56:51.420
our transactions were in Bitcoin because people would
1357
00:56:51.420 --> 00:56:54.240
see the fiat price and then they get
1358
00:56:54.240 --> 00:56:55.480
to check out and be like, wait, I
1359
00:56:55.480 --> 00:56:58.760
got to pay like 15 % if I
1360
00:56:58.760 --> 00:57:01.440
don't pay in Bitcoin. So they already anchored
1361
00:57:01.440 --> 00:57:03.500
to the price. And then they were like,
1362
00:57:03.500 --> 00:57:04.920
well, I don't want to lose that extra
1363
00:57:04.920 --> 00:57:07.860
money. I wasn't expecting to pay. As soon
1364
00:57:07.860 --> 00:57:10.540
as we switched it to a discount, they
1365
00:57:10.540 --> 00:57:12.840
were like, well, I was already going to
1366
00:57:12.840 --> 00:57:15.980
pay this amount anyways. So whatever, I'm not
1367
00:57:15.980 --> 00:57:17.340
going to learn how to use Bitcoin in
1368
00:57:17.340 --> 00:57:21.100
order to pay for and it basically dropped
1369
00:57:21.100 --> 00:57:24.080
off to almost nothing. And so like we
1370
00:57:24.080 --> 00:57:27.860
kind of learned, again, that that anchor that
1371
00:57:27.860 --> 00:57:30.360
I already have this and now I have
1372
00:57:30.360 --> 00:57:31.920
to lose it? No, I don't want to
1373
00:57:31.920 --> 00:57:34.080
do that. You're absolutely right. That is such
1374
00:57:34.080 --> 00:57:35.600
a driving factor. And that's probably one of
1375
00:57:35.600 --> 00:57:37.600
the most insidious things about the way taxes
1376
00:57:37.600 --> 00:57:41.180
work now is that it gets taken before
1377
00:57:41.180 --> 00:57:43.600
you ever even see it. So people don't
1378
00:57:43.600 --> 00:57:46.920
even have a chance to be mad before
1379
00:57:46.920 --> 00:57:51.040
it's gone. Well, I mean, it's it's it's
1380
00:57:51.040 --> 00:57:52.780
it was never in my bank account. I
1381
00:57:52.780 --> 00:57:55.540
was never cash in my hand. So I
1382
00:57:55.540 --> 00:57:57.080
don't know. Brandon, what do you think? Yeah,
1383
00:57:57.080 --> 00:57:58.780
the worst part too is it's we've got
1384
00:57:58.780 --> 00:58:01.120
it's is devolved to a point where like
1385
00:58:01.120 --> 00:58:02.320
you guys said, the business owners are the
1386
00:58:02.320 --> 00:58:04.860
only ones that really are generally seeing that.
1387
00:58:04.860 --> 00:58:06.700
And that's like we said earlier, this Thomas
1388
00:58:06.700 --> 00:58:08.540
Massey stuff, the, the boomers are a huge
1389
00:58:08.540 --> 00:58:11.140
voting block. That's not a big voting block.
1390
00:58:11.140 --> 00:58:13.460
Like the business, the government wants businesses. They
1391
00:58:13.460 --> 00:58:15.320
need the businesses in some sense, right? They
1392
00:58:15.320 --> 00:58:17.260
need people to do housing. And you can
1393
00:58:17.260 --> 00:58:18.500
kind of go back and forth where like
1394
00:58:18.500 --> 00:58:19.740
they, they, they kind of go back and
1395
00:58:19.740 --> 00:58:20.660
forth where like, oh, we're going to get
1396
00:58:20.660 --> 00:58:22.520
in housing now or not. They generally want
1397
00:58:22.520 --> 00:58:26.040
entrepreneurs doing housing and business stuff like that.
1398
00:58:26.040 --> 00:58:27.440
But at the same time, they will just
1399
00:58:27.440 --> 00:58:29.700
press the buttons as much as they can
1400
00:58:29.700 --> 00:58:31.960
because it's a small voting block. The entrepreneur
1401
00:58:31.960 --> 00:58:33.920
base is tiny compared to the rest of
1402
00:58:33.920 --> 00:58:35.840
the population. So they kind of have everyone
1403
00:58:35.840 --> 00:58:37.900
over a barrel when it comes to that.
1404
00:58:37.900 --> 00:58:40.540
So that's that's really tough. But, you know,
1405
00:58:40.540 --> 00:58:43.580
again, I was listening to Gen Z. It's
1406
00:58:43.580 --> 00:58:45.720
actually a kid from Marysville, Michigan, which is,
1407
00:58:45.720 --> 00:58:46.760
you know, a couple hours from where I'm
1408
00:58:46.760 --> 00:58:48.720
at. He's running for city council. He's 18
1409
00:58:48.720 --> 00:58:49.860
years old. He's going to be 18 by
1410
00:58:49.860 --> 00:58:52.500
the time the election happens. And he was
1411
00:58:52.500 --> 00:58:53.720
a sharp kid. And I was listening to
1412
00:58:53.720 --> 00:58:56.040
him on a pod, actually. And it's scary
1413
00:58:56.040 --> 00:58:57.260
because he's talking about Gen Z and just
1414
00:58:57.260 --> 00:59:00.840
how much they want socialism and communism and
1415
00:59:00.840 --> 00:59:02.940
things of that nature. And he mentioned the
1416
00:59:02.940 --> 00:59:04.560
American system. And he was just like, yeah,
1417
00:59:04.560 --> 00:59:05.900
like we were never taught that. I would
1418
00:59:05.900 --> 00:59:08.260
never talk that, you know, in government run
1419
00:59:08.260 --> 00:59:10.160
schools growing up. These are things that we
1420
00:59:10.160 --> 00:59:12.040
were part of our ethos and being a
1421
00:59:12.040 --> 00:59:14.820
completely separate economics, not capitalism, not communism, not
1422
00:59:14.820 --> 00:59:17.520
communism. It's the American system. It's a whole,
1423
00:59:17.520 --> 00:59:18.420
it's not a whole. It's not a. whole
1424
00:59:18.420 --> 00:59:20.580
separate thing from capitalism, but it's a it's
1425
00:59:20.580 --> 00:59:22.260
a different version of that. And again, like
1426
00:59:22.260 --> 00:59:24.580
we said before, many of the presidents that
1427
00:59:24.580 --> 00:59:25.860
have tried to implement and go back to
1428
00:59:25.860 --> 00:59:27.340
the American system have got shot and killed
1429
00:59:27.340 --> 00:59:30.800
or shot. And so that's the world to
1430
00:59:30.800 --> 00:59:32.940
me that we are again seeing on earth
1431
00:59:32.940 --> 00:59:35.020
exposed, exposure in chief, all the things we
1432
00:59:35.020 --> 00:59:38.640
said. The taxation is the humiliation ritual. Like
1433
00:59:38.640 --> 00:59:40.900
you guys mentioned, this goes back to 1763,
1434
00:59:40.900 --> 00:59:42.540
right? The intolerable acts, all these things happened
1435
00:59:42.540 --> 00:59:44.740
at the Boston Tea Party that that that
1436
00:59:44.740 --> 00:59:47.220
was what, 2 % tax that they were
1437
00:59:47.220 --> 00:59:49.700
pissed off about. And so that's just this
1438
00:59:49.700 --> 00:59:51.480
conform, comply, obey, which is part of it
1439
00:59:51.480 --> 00:59:54.280
too. Because Beardly Rummel, the Fed head in
1440
00:59:54.280 --> 00:59:57.320
1944, the New York Fed head, wrote an
1441
00:59:57.320 --> 00:59:59.180
article in the American Affairs magazine that was
1442
00:59:59.180 --> 01:00:01.800
titled Taxes for Revenue or Obsolete. So yes,
1443
01:00:01.800 --> 01:00:03.380
did they want your tax money? Yeah. I
1444
01:00:03.380 --> 01:00:05.500
mean, they need it theoretically in a way.
1445
01:00:05.500 --> 01:00:07.240
But at the same time, they've admitted that
1446
01:00:07.240 --> 01:00:08.660
we don't actually need it. We use it
1447
01:00:08.660 --> 01:00:09.900
to coerce people and we use it to
1448
01:00:09.900 --> 01:00:11.340
redistribute wealth. And there was two other bullet
1449
01:00:11.340 --> 01:00:13.080
points as well. They say it right. It's
1450
01:00:13.080 --> 01:00:15.220
hidden in plain sight. Evil has to show
1451
01:00:15.220 --> 01:00:16.540
you what they're doing. And it's up to
1452
01:00:16.540 --> 01:00:18.820
humans. Like the devil can't for. anyone like
1453
01:00:18.820 --> 01:00:21.060
devil can't force anyone to do anything evil
1454
01:00:21.060 --> 01:00:23.320
the human has to accept evil and has
1455
01:00:23.320 --> 01:00:25.440
to know what they're doing and then accept
1456
01:00:25.440 --> 01:00:27.540
and choose it that's a really insidious part
1457
01:00:27.540 --> 01:00:29.680
so this to me is just this conform
1458
01:00:29.680 --> 01:00:31.640
comply obey we make you do these things
1459
01:00:31.640 --> 01:00:33.480
because we've been trained in school for so
1460
01:00:33.480 --> 01:00:35.100
long to conform comply obey it's just one
1461
01:00:35.100 --> 01:00:37.040
more thing like conform comply okay check that
1462
01:00:37.040 --> 01:00:38.620
box do it here we are so what
1463
01:00:38.620 --> 01:00:40.260
francis is fighting and and so many things
1464
01:00:40.260 --> 01:00:41.820
we've seen that bitcoiner fights we mentioned the
1465
01:00:41.820 --> 01:00:44.200
cypherpunk stuff earlier all these fights they are
1466
01:00:44.200 --> 01:00:46.360
so beyond necessary because if we don't stand
1467
01:00:46.360 --> 01:00:48.040
and do something then you just get run
1468
01:00:48.040 --> 01:00:49.740
over you just conform and comply and obey
1469
01:00:49.740 --> 01:00:51.060
and all of a sudden you realize you're
1470
01:00:51.060 --> 01:00:52.340
the one in the panopticon you're the one
1471
01:00:52.340 --> 01:00:53.420
in the arena you're the one in the
1472
01:00:53.420 --> 01:00:54.600
boiling pot and it's too late at that
1473
01:00:54.600 --> 01:00:58.520
point it's funny too like the it'd be
1474
01:00:58.520 --> 01:01:00.260
so in canada we have like the payroll
1475
01:01:00.260 --> 01:01:02.240
deductions too but you know we all have
1476
01:01:02.240 --> 01:01:04.280
lcs and i when i pay my taxes
1477
01:01:04.280 --> 01:01:06.340
for like the podcast or the other lc
1478
01:01:06.340 --> 01:01:08.580
that i have it's always the same i
1479
01:01:08.580 --> 01:01:10.440
get frustrated by two things right one is
1480
01:01:10.440 --> 01:01:13.100
that the amount of money i'm sending is
1481
01:01:13.100 --> 01:01:16.240
just not it's not at all the same
1482
01:01:16.240 --> 01:01:18.420
ratio that in terms of the service as
1483
01:01:18.420 --> 01:01:20.400
i'm getting back right it's just it's nothing
1484
01:01:20.400 --> 01:01:22.040
even close that's one problem but the other
1485
01:01:22.040 --> 01:01:23.660
problem i have is this like a hundred
1486
01:01:23.660 --> 01:01:27.000
billion dollar cottage industry that's popped up around
1487
01:01:27.000 --> 01:01:29.920
managing the government's expectations like i got to
1488
01:01:29.920 --> 01:01:31.860
pay an accountant to make sure that i
1489
01:01:31.860 --> 01:01:33.600
get all my deductions to make sure that
1490
01:01:33.600 --> 01:01:35.180
i send the stuff in properly to make
1491
01:01:35.180 --> 01:01:36.760
sure that they don't get any you know
1492
01:01:36.760 --> 01:01:38.900
like what what the fuck is that i
1493
01:01:38.900 --> 01:01:40.340
don't want to do any of that i'm
1494
01:01:40.340 --> 01:01:42.440
not getting anything out of this and you
1495
01:01:42.440 --> 01:01:45.020
know i think brandon that you're right uh
1496
01:01:45.020 --> 01:01:46.740
and we talked about this you know maybe
1497
01:01:46.740 --> 01:01:49.600
tangentially last week or week before the problem
1498
01:01:49.600 --> 01:01:52.180
is that if you keep doing that to
1499
01:01:52.180 --> 01:01:53.500
people it's a problem for us i think
1500
01:01:53.500 --> 01:01:55.100
it might be you know an intended consequence
1501
01:01:55.100 --> 01:01:57.000
from from the guys uh in the stone
1502
01:01:57.000 --> 01:01:59.420
buildings but if you keep doing that to
1503
01:01:59.420 --> 01:02:00.800
people what does it do to them really
1504
01:02:00.800 --> 01:02:03.740
it's like a spiritually draining thing you know
1505
01:02:03.740 --> 01:02:06.560
you work harder and harder and harder and
1506
01:02:06.560 --> 01:02:07.540
harder and you end up in a higher
1507
01:02:07.540 --> 01:02:09.160
tax bracket they just take more of your
1508
01:02:09.160 --> 01:02:12.700
money and you work harder and harder and
1509
01:02:12.700 --> 01:02:14.160
you try and pay your taxes you know
1510
01:02:14.160 --> 01:02:16.620
but then they got special agents for viewing
1511
01:02:16.620 --> 01:02:19.560
your shit And it's like, man, I keep
1512
01:02:19.560 --> 01:02:22.300
on hearing from people that I'm supposed to
1513
01:02:22.300 --> 01:02:24.860
like, you know, in my nine to five,
1514
01:02:24.860 --> 01:02:27.000
I'm supposed to like grind harder and work
1515
01:02:27.000 --> 01:02:29.320
harder and take on more responsibility and really
1516
01:02:29.320 --> 01:02:31.560
like burn the candle at both ends. But
1517
01:02:31.560 --> 01:02:33.780
I don't want to. It's not fulfilling. You
1518
01:02:33.780 --> 01:02:35.700
know, the work is not fulfilling. The people
1519
01:02:35.700 --> 01:02:37.660
around me are not that bright. And maybe
1520
01:02:37.660 --> 01:02:39.900
worst of all, even if I work hard
1521
01:02:39.900 --> 01:02:41.840
and earn more money, someone's going to take
1522
01:02:41.840 --> 01:02:43.140
it from me for something that I'm never
1523
01:02:43.140 --> 01:02:45.140
going to use. You know, there's no opportunity
1524
01:02:45.140 --> 01:02:46.400
for me to get that money back. If
1525
01:02:46.400 --> 01:02:48.320
I, for example, like, don't wind up in
1526
01:02:48.320 --> 01:02:51.140
a hospital, knock on wood. Don't, you know,
1527
01:02:51.140 --> 01:02:55.080
need certain services. I don't need, you know,
1528
01:02:55.080 --> 01:02:58.760
settlement services like language and housing and all
1529
01:02:58.760 --> 01:03:00.720
this shit. Like, I don't get anything back.
1530
01:03:00.720 --> 01:03:02.280
I think what is the baby bonus where
1531
01:03:02.280 --> 01:03:04.400
you are, Ben? I think you get a
1532
01:03:04.400 --> 01:03:07.460
certain amount of money based on income from
1533
01:03:07.460 --> 01:03:09.140
the government, like when your kid is born.
1534
01:03:09.140 --> 01:03:12.140
I mean, we fucking got almost nothing. And
1535
01:03:12.140 --> 01:03:13.760
I just think to myself, like, this money's
1536
01:03:13.760 --> 01:03:16.120
going, someone who's got 20 kids is getting
1537
01:03:16.120 --> 01:03:18.320
this fucking money, but it ain't me, you
1538
01:03:18.320 --> 01:03:19.660
know? And that's frustrating for a lot of
1539
01:03:19.660 --> 01:03:21.940
people. And there's a spiritual cost, like I
1540
01:03:21.940 --> 01:03:23.660
said last week, to being a country that
1541
01:03:23.660 --> 01:03:26.820
does that to its citizens. Because yeah, exactly,
1542
01:03:26.820 --> 01:03:28.200
going to the Leering Center instead of going
1543
01:03:28.200 --> 01:03:29.900
to you, you go to the park and
1544
01:03:29.900 --> 01:03:32.280
there's a woman there who's got 20 kids.
1545
01:03:32.280 --> 01:03:34.120
And it's just like, okay, well, you know,
1546
01:03:34.120 --> 01:03:38.620
we have one. And it's not fair to
1547
01:03:38.620 --> 01:03:41.520
the people who are contributing to those systems.
1548
01:03:41.520 --> 01:03:43.380
Because guess what? The people who are contributing
1549
01:03:43.380 --> 01:03:45.460
to those systems, I think I'll speak for
1550
01:03:45.460 --> 01:03:48.680
myself. I won't speak for you guys. guys,
1551
01:03:48.680 --> 01:03:51.180
the taxes have never been the problem. The
1552
01:03:51.180 --> 01:03:54.040
problem has been what you get for them.
1553
01:03:54.040 --> 01:03:55.540
And, you know, I think we probably all
1554
01:03:55.540 --> 01:03:58.140
agree that there is something called community that
1555
01:03:58.140 --> 01:04:00.560
we would care to give money and resources
1556
01:04:00.560 --> 01:04:02.300
to. And we do oftentimes give money and
1557
01:04:02.300 --> 01:04:04.380
resources to communities. Okay. Like you help your
1558
01:04:04.380 --> 01:04:06.900
neighbors with their snow. They, you know, they
1559
01:04:06.900 --> 01:04:08.240
bring over a pie for you in the
1560
01:04:08.240 --> 01:04:09.540
winter. I remember when we moved into our
1561
01:04:09.540 --> 01:04:11.660
house, the neighbors behind us brought us like
1562
01:04:11.660 --> 01:04:13.660
a dog bowl because they saw we had
1563
01:04:13.660 --> 01:04:17.500
a dog. Like that's resource sharing. among a
1564
01:04:17.500 --> 01:04:19.960
tight -knit group of people, right? But that
1565
01:04:19.960 --> 01:04:21.940
group of people has the same expectation, the
1566
01:04:21.940 --> 01:04:26.060
same, the same goals as each other. As
1567
01:04:26.060 --> 01:04:27.240
soon as you get outside of that little
1568
01:04:27.240 --> 01:04:31.160
community, then, you know, the communist manifesto starts
1569
01:04:31.160 --> 01:04:33.280
to look more and more appealing to people
1570
01:04:33.280 --> 01:04:35.700
who are not contributing. They are just taking.
1571
01:04:35.700 --> 01:04:37.240
That's the problem you got everywhere, everywhere. Every
1572
01:04:37.240 --> 01:04:42.060
country's having that issue now. Yeah. I mean,
1573
01:04:42.060 --> 01:04:46.260
again, if you're, what was I listening to
1574
01:04:46.260 --> 01:04:49.120
the other day? there was a, it was
1575
01:04:49.120 --> 01:04:52.840
an old clip. I'm trying to recall who
1576
01:04:52.840 --> 01:04:57.240
it was, but it was somebody talking about
1577
01:04:57.240 --> 01:05:02.520
how the common argument nowadays is, well, America
1578
01:05:02.520 --> 01:05:08.140
was a country built on immigration, and that's
1579
01:05:08.140 --> 01:05:10.840
what made it great. But the difference is
1580
01:05:10.840 --> 01:05:10.840
that when America was built on that, it
1581
01:05:10.840 --> 01:05:10.840
was a country built on immigration, and that's
1582
01:05:10.840 --> 01:05:13.120
what made it great.! the difference is that
1583
01:05:13.120 --> 01:05:14.780
when the difference is that when America was
1584
01:05:14.780 --> 01:05:18.240
built on that, it was, you had the
1585
01:05:18.240 --> 01:05:22.660
chance to go and build something for yourself,
1586
01:05:22.660 --> 01:05:26.100
but there were no handouts. You showed up
1587
01:05:26.100 --> 01:05:28.860
at the doorstep, and there was nothing fucking
1588
01:05:28.860 --> 01:05:32.560
for you other than the possibility of doing
1589
01:05:32.560 --> 01:05:36.440
as you please and building something for yourself.
1590
01:05:36.440 --> 01:05:41.540
The dynamic shifts when it's, hey, we've got
1591
01:05:41.540 --> 01:05:44.560
a ton of free shit over here. What
1592
01:05:44.560 --> 01:05:47.200
types of people do you attract when, you
1593
01:05:47.200 --> 01:05:51.520
say there is opportunity to build for yourself
1594
01:05:51.520 --> 01:05:54.600
through your own gusto, through your own determination,
1595
01:05:54.600 --> 01:05:57.320
your own skill, there is a place where
1596
01:05:57.320 --> 01:05:59.660
you can come and we won't impede you
1597
01:05:59.660 --> 01:06:02.100
in doing so. That attracts a certain type
1598
01:06:02.100 --> 01:06:06.020
of person. When you have a bunch of
1599
01:06:06.020 --> 01:06:09.680
programs where it's like if you show up
1600
01:06:09.680 --> 01:06:12.220
at the doorstep, we'll give you free food
1601
01:06:12.220 --> 01:06:15.440
and checks and housing and all of these
1602
01:06:15.440 --> 01:06:18.140
different things, that attracts. an entirely different type
1603
01:06:18.140 --> 01:06:22.080
of person. And so the incentives are skewed.
1604
01:06:22.080 --> 01:06:25.900
And, you know, it sounds nice to want
1605
01:06:25.900 --> 01:06:30.120
to give people a helping hand. The problem
1606
01:06:30.120 --> 01:06:35.060
is what types of people are going to
1607
01:06:35.060 --> 01:06:36.740
be coming in that door. And even just
1608
01:06:36.740 --> 01:06:42.960
anecdotally, locally in my city, talking to local
1609
01:06:42.960 --> 01:06:47.500
police and people that every day kind of
1610
01:06:47.500 --> 01:06:51.780
dealing with, you know, people downtown and everything.
1611
01:06:51.780 --> 01:06:54.920
And they say what I've heard from multiple
1612
01:06:54.920 --> 01:06:57.500
people that kind of work with people on
1613
01:06:57.500 --> 01:07:02.640
the street is the ones that deserve the
1614
01:07:02.640 --> 01:07:06.680
help, they don't want it. Because they're like,
1615
01:07:06.680 --> 01:07:08.700
I got myself here. I got to fucking,
1616
01:07:08.700 --> 01:07:10.460
I got to pull myself out of this.
1617
01:07:10.460 --> 01:07:13.120
I don't want your handouts. Let me figure
1618
01:07:13.120 --> 01:07:15.600
this shit out. And then they do. The
1619
01:07:15.600 --> 01:07:18.580
one. that are always seeking it are the
1620
01:07:18.580 --> 01:07:21.520
ones that will continue to seek it forever.
1621
01:07:21.520 --> 01:07:24.600
And that's kind of the unfortunate reality of
1622
01:07:24.600 --> 01:07:28.080
it. You know, I don't mind people choosing
1623
01:07:28.080 --> 01:07:31.720
to help others out. And I think that,
1624
01:07:31.720 --> 01:07:34.580
you know, helping your neighbors and people that
1625
01:07:34.580 --> 01:07:36.420
you know and your family members and times
1626
01:07:36.420 --> 01:07:39.580
in need are important. But I think that's
1627
01:07:39.580 --> 01:07:43.900
very much a job for the families and
1628
01:07:43.900 --> 01:07:47.200
friends to do amongst themselves. It's not for
1629
01:07:47.200 --> 01:07:52.180
other people to extract wealth from the entire
1630
01:07:52.180 --> 01:07:55.260
populace and then give it away with no
1631
01:07:55.260 --> 01:07:58.260
condition whatsoever. I missed that book in the
1632
01:07:58.260 --> 01:08:00.380
Bible where Jesus took everything from everyone and
1633
01:08:00.380 --> 01:08:02.600
then redistribute it to everyone else. And then
1634
01:08:02.600 --> 01:08:06.480
sent it overseas, yeah. Where is that one?
1635
01:08:06.480 --> 01:08:09.220
And you're in making it across the font.
1636
01:08:09.220 --> 01:08:10.820
You're spot on too. And this is like
1637
01:08:10.820 --> 01:08:13.780
this is such a low IQ argument that's
1638
01:08:13.780 --> 01:08:16.360
used by some people that like, well, America's
1639
01:08:16.360 --> 01:08:20.360
a nation of immigrants. That means all immigration
1640
01:08:20.360 --> 01:08:21.960
must be good. And if you oppose it,
1641
01:08:21.960 --> 01:08:24.100
you're some sort of, you know, xenophobic or
1642
01:08:24.100 --> 01:08:25.880
nationalist or whatever label they want to throw
1643
01:08:25.880 --> 01:08:28.220
on you. But it's like, look, I'd rather
1644
01:08:28.220 --> 01:08:30.360
have a real doctor or a real engineer
1645
01:08:30.360 --> 01:08:32.640
than a doctor and engineer. You know what
1646
01:08:32.640 --> 01:08:34.020
I mean? We all know what I'm talking
1647
01:08:34.020 --> 01:08:37.700
about there. Like, I'd rather, like, the thing
1648
01:08:37.700 --> 01:08:41.120
is, people aren't like, maybe we're all created
1649
01:08:41.120 --> 01:08:44.580
equal, you know, at the very moment of
1650
01:08:44.580 --> 01:08:46.500
our, of our, of our, of our birth,
1651
01:08:46.500 --> 01:08:48.720
right, of our existence, right? Maybe we are
1652
01:08:48.720 --> 01:08:52.320
all made equally in God's image, right? But
1653
01:08:52.320 --> 01:08:54.480
the difference is that then from the moment
1654
01:08:54.480 --> 01:08:56.240
you are born, you grow up in a
1655
01:08:56.240 --> 01:08:59.460
culture. And cultures are not equal. They're not
1656
01:08:59.460 --> 01:09:01.820
equal at all. And if you think they
1657
01:09:01.820 --> 01:09:04.700
are, ask yourself why certain cultures never invented
1658
01:09:04.700 --> 01:09:07.840
the wheel until colonialism happened. And then they
1659
01:09:07.840 --> 01:09:09.160
still didn't invent it. It was just brought
1660
01:09:09.160 --> 01:09:12.720
to them, right? Like, cultures are not equal.
1661
01:09:12.720 --> 01:09:16.580
Some cultures are better than others. some political
1662
01:09:16.580 --> 01:09:21.020
systems are better than others. Cultures, when allowed
1663
01:09:21.020 --> 01:09:23.460
to run for long enough, have long -term
1664
01:09:23.460 --> 01:09:26.800
ingrained effects that play out in how their
1665
01:09:26.800 --> 01:09:30.460
populace behaves and is going to, what they
1666
01:09:30.460 --> 01:09:31.600
are going to achieve for the rest of
1667
01:09:31.600 --> 01:09:35.000
their life. So it's like, no, all immigration
1668
01:09:35.000 --> 01:09:38.820
is not good. Nobody wants to pay for
1669
01:09:38.820 --> 01:09:41.820
somebody to come across the border and pop
1670
01:09:41.820 --> 01:09:44.780
out 20 babies and suckle at the teat
1671
01:09:44.780 --> 01:09:45.840
of the taxpayer for the rest of the
1672
01:09:45.840 --> 01:09:48.500
their life. That does nothing. That's not, that's
1673
01:09:48.500 --> 01:09:51.420
not good. It's not a good thing. No,
1674
01:09:51.420 --> 01:09:53.400
what you want is the best and smartest
1675
01:09:53.400 --> 01:09:55.640
people in the entire world to come to
1676
01:09:55.640 --> 01:09:58.080
your country. You want to attract the best
1677
01:09:58.080 --> 01:10:00.400
and the brightest people to immigrate your country.
1678
01:10:00.400 --> 01:10:02.380
That is good immigration. That is what you
1679
01:10:02.380 --> 01:10:06.480
want. You don't want dummy, like dummies who
1680
01:10:06.480 --> 01:10:08.000
are going to suckle on the welfare teet
1681
01:10:08.000 --> 01:10:10.220
for their entire lives and gain the system
1682
01:10:10.220 --> 01:10:12.520
and open leering centers to be in your
1683
01:10:12.520 --> 01:10:15.360
country. This is not complicated stuff. The leering
1684
01:10:15.360 --> 01:10:17.240
center is the best case scenario. Like it's
1685
01:10:17.240 --> 01:10:20.140
so much worse in some places now. Yeah,
1686
01:10:20.140 --> 01:10:21.880
it's just like this isn't complicated though. You
1687
01:10:21.880 --> 01:10:24.560
know, this is not, it's common sense. But
1688
01:10:24.560 --> 01:10:26.280
people just pretend like not to understand it
1689
01:10:26.280 --> 01:10:28.320
where it's like, well, I mean, I guess
1690
01:10:28.320 --> 01:10:29.860
I just care more about other people than
1691
01:10:29.860 --> 01:10:32.000
you do. Like, you know, I guess I
1692
01:10:32.000 --> 01:10:35.040
guess I'm just more morally superior and more
1693
01:10:35.040 --> 01:10:36.800
empathetic and, you know, more of an empath
1694
01:10:36.800 --> 01:10:39.500
than you are. It's like, fuck, fuck right
1695
01:10:39.500 --> 01:10:41.740
off, you fucking loser. Like, you know what,
1696
01:10:41.740 --> 01:10:43.720
then you fucking put them in your home.
1697
01:10:43.720 --> 01:10:44.500
Like I, like, I, like, is I like,
1698
01:10:44.500 --> 01:10:45.460
is I, I don't want to fucking pay
1699
01:10:45.460 --> 01:10:48.280
for him, right? Keep talking because Ben is,
1700
01:10:48.280 --> 01:10:49.680
you have to keep going because Ben is
1701
01:10:49.680 --> 01:10:51.300
engaging some guy on BIP 110 in the
1702
01:10:51.300 --> 01:10:54.000
chat. So we gotta keep the show going.
1703
01:10:54.000 --> 01:10:55.680
That is definitely the bottom of the chat
1704
01:10:55.680 --> 01:10:59.040
because nobody could have such a lukewarm IQ.
1705
01:10:59.040 --> 01:11:00.980
Ben already forgot. There's some people in the
1706
01:11:00.980 --> 01:11:02.880
chat every week on the BIP thing, man.
1707
01:11:02.880 --> 01:11:04.840
Oh, they leave for a couple weeks and
1708
01:11:04.840 --> 01:11:05.760
all of a sudden he's like, I better
1709
01:11:05.760 --> 01:11:08.480
get in on this. So the chum is
1710
01:11:08.480 --> 01:11:11.700
in the wire. I'm just asking questions, you
1711
01:11:11.700 --> 01:11:13.860
guys. I'm just asking questions. Hey, if you're
1712
01:11:13.860 --> 01:11:17.540
not a bot. Nazegu'll say I'm not a
1713
01:11:17.540 --> 01:11:19.640
bot like if you're if you're not just
1714
01:11:19.640 --> 01:11:21.560
in the chat right now and not actually
1715
01:11:21.560 --> 01:11:23.320
listening to this but if you are listening
1716
01:11:23.320 --> 01:11:24.400
to this just say I'm not a bot
1717
01:11:24.400 --> 01:11:25.860
just that we know you're a person who
1718
01:11:25.860 --> 01:11:31.240
holds these opinions I was I was just
1719
01:11:31.240 --> 01:11:33.700
being I was just being inquisitive anyways guys
1720
01:11:33.700 --> 01:11:35.360
we're gonna go to break here on the
1721
01:11:35.360 --> 01:11:37.880
other side of the break we're gonna try
1722
01:11:37.880 --> 01:11:39.760
and keep it on time here it's I'm
1723
01:11:39.760 --> 01:11:41.700
it's 20 after 11 for me right now
1724
01:11:41.700 --> 01:11:45.160
so we'll we'll roll through it but A
1725
01:11:45.160 --> 01:11:50.060
couple things. We've got Japan and Taiwan talking
1726
01:11:50.060 --> 01:11:57.820
about various Bitcoin -related things. Japan just approving
1727
01:11:57.820 --> 01:12:02.340
ETFs, whereas Taiwan set off the top of
1728
01:12:02.340 --> 01:12:05.760
the show, one of their congressmen said there's
1729
01:12:05.760 --> 01:12:09.660
100 % chance the country will establish a
1730
01:12:09.660 --> 01:12:14.240
strategic reserve. So interesting. But how are they
1731
01:12:14.240 --> 01:12:16.520
going to do? do it. We may have
1732
01:12:16.520 --> 01:12:21.440
a hint in it around that. Also, I
1733
01:12:21.440 --> 01:12:23.300
wanted to touch on the other side of
1734
01:12:23.300 --> 01:12:27.700
the break blockade reinstated. Is it on? Is
1735
01:12:27.700 --> 01:12:29.600
it off? Let's go to. I saw you
1736
01:12:29.600 --> 01:12:32.920
guys probably touch on both sides of this
1737
01:12:32.920 --> 01:12:36.380
multiple times while I was away. So let's
1738
01:12:36.380 --> 01:12:37.960
just keep that ball rolling. We'll just do
1739
01:12:37.960 --> 01:12:40.020
some more of it. But we have Ron
1740
01:12:40.020 --> 01:12:43.200
Paul chiming in as well. So with that,
1741
01:12:43.200 --> 01:12:45.140
everybody, thank you for being here. make sure
1742
01:12:45.140 --> 01:12:48.700
in the chat keep those messages coming especially
1743
01:12:48.700 --> 01:12:52.620
in relation to BIP 110. Other than that,
1744
01:12:52.620 --> 01:12:54.040
make sure you drop a like and give
1745
01:12:54.040 --> 01:12:57.080
this a share. We will be back. I'm
1746
01:12:57.080 --> 01:13:01.300
pro Bip 110. Clip that, put that on
1747
01:13:01.300 --> 01:13:03.680
Twitter. Right before the break. There we go.
1748
01:13:03.680 --> 01:13:06.160
We'll be back in just a sec. Securing
1749
01:13:06.160 --> 01:13:08.880
your Bitcoin doesn't have to be complicated or
1750
01:13:08.880 --> 01:13:12.460
invasive. With Nunchuk's Honeybadger plan, you get state
1751
01:13:12.460 --> 01:13:14.240
-of -the -art multi -sig with built -in
1752
01:13:14.240 --> 01:13:17.600
inheritance. planning and no KYC required. Nunchuk is
1753
01:13:17.600 --> 01:13:19.880
trusted by users to secure billions of dollars
1754
01:13:19.880 --> 01:13:22.620
in Bitcoin. The Honey Badger plan offers 204
1755
01:13:22.620 --> 01:13:25.080
assisted multi -sig, guiding you step -by -step
1756
01:13:25.080 --> 01:13:27.880
on mobile or desktop. It works seamlessly with
1757
01:13:27.880 --> 01:13:31.280
hardware wallets like TapSiner, Cold Card, Jade, and
1758
01:13:31.280 --> 01:13:34.440
plenty of others, so you're always in control.
1759
01:13:34.440 --> 01:13:37.120
Plus, with non -KYC inheritance planning, you can
1760
01:13:37.120 --> 01:13:39.580
ensure your Bitcoin goes to your loved ones.
1761
01:13:39.580 --> 01:13:42.360
No private info needed. Take control of your
1762
01:13:42.360 --> 01:13:44.280
Bitcoin today. Click the link in the show
1763
01:13:44.280 --> 01:13:45.940
notes or scan the QR code on the
1764
01:13:45.940 --> 01:13:49.960
screen to check out the HoneyBadger plan. Debify
1765
01:13:49.960 --> 01:13:52.420
is the best and easiest way to borrow
1766
01:13:52.420 --> 01:13:55.980
against your Bitcoin in a non -custodial way.
1767
01:13:55.980 --> 01:13:58.020
Funds are held in a multi -sig escrow
1768
01:13:58.020 --> 01:14:00.120
where you hold a key and the platform
1769
01:14:00.120 --> 01:14:03.020
allows for excellent hardware like the cold card
1770
01:14:03.020 --> 01:14:05.820
mark four and the queue. You have access
1771
01:14:05.820 --> 01:14:10.220
to flexible conditions, the best rates, and institutional
1772
01:14:10.220 --> 01:14:13.360
grade liquidity. If you're looking to make use
1773
01:14:13.360 --> 01:14:16.000
of your capital. Don't sell your Bitcoin, borrow
1774
01:14:16.000 --> 01:14:18.540
against it. You can head over to debify
1775
01:14:18.540 --> 01:14:21.340
.com to check them out or simply scan
1776
01:14:21.340 --> 01:14:25.620
the QR code on the screen. All right,
1777
01:14:25.620 --> 01:14:29.120
boys. Let's roll through a couple quick things
1778
01:14:29.120 --> 01:14:33.680
here. Number one, Japan, world's fourth largest economy,
1779
01:14:33.680 --> 01:14:37.180
just approved Bitcoin ETFs. Upper House Committee approved
1780
01:14:37.180 --> 01:14:40.440
the bill, reclassifying crypto as a financial instrument,
1781
01:14:40.440 --> 01:14:43.060
same category as stocks and bonds. It already
1782
01:14:43.060 --> 01:14:45.560
passed the lower house full chamber vote is
1783
01:14:45.560 --> 01:14:49.720
expected as a formality given the ruling party's
1784
01:14:49.720 --> 01:14:53.020
control. On the other side here, we also
1785
01:14:53.020 --> 01:14:57.320
have a Taiwan congressman just said there is
1786
01:14:57.320 --> 01:14:59.460
a 100 % chance that the country will
1787
01:14:59.460 --> 01:15:02.840
establish a strategic Bitcoin reserve. The quote here,
1788
01:15:02.840 --> 01:15:07.380
unlike gold, Bitcoin is digitally transferable and verifiable.
1789
01:15:07.380 --> 01:15:13.060
The world has changed. Now, how might Taiwan
1790
01:15:13.060 --> 01:15:17.020
Taiwan accumulate this Bitcoin. Well, Taiwan reveals it
1791
01:15:17.020 --> 01:15:20.080
holds 210 Bitcoin seized in criminal cases valued
1792
01:15:20.080 --> 01:15:23.540
at $18 million. So maybe taking a page
1793
01:15:23.540 --> 01:15:27.680
from the U .S.'s handbook there. Gentlemen, does
1794
01:15:27.680 --> 01:15:29.800
either of these things matter at all to
1795
01:15:29.800 --> 01:15:32.940
you guys? How do you feel? I don't
1796
01:15:32.940 --> 01:15:37.260
know. Brandon, you go first. I'm pit. No,
1797
01:15:37.260 --> 01:15:38.080
I mean, it just kind of goes back
1798
01:15:38.080 --> 01:15:40.140
to what we said earlier a bit too.
1799
01:15:40.140 --> 01:15:41.980
It's just like the constant headlines over and
1800
01:15:41.980 --> 01:15:44.860
over again. There's no you know, this is
1801
01:15:44.860 --> 01:15:46.420
a part of the whole, like when you
1802
01:15:46.420 --> 01:15:48.900
saw a chart 10 years ago or a
1803
01:15:48.900 --> 01:15:50.860
Howard Dean or someone, you know, just sank
1804
01:15:50.860 --> 01:15:53.380
their campaign with one thing. I just don't,
1805
01:15:53.380 --> 01:15:55.720
I think people are desensitized to so much
1806
01:15:55.720 --> 01:15:57.880
of this now where like similar to how
1807
01:15:57.880 --> 01:15:59.900
10 years ago in Bitcoin, it was one
1808
01:15:59.900 --> 01:16:01.380
headline like this and all of a sudden
1809
01:16:01.380 --> 01:16:02.980
you'd go from, you know, 500 bucks to
1810
01:16:02.980 --> 01:16:04.200
a thousand. You know, like it was just
1811
01:16:04.200 --> 01:16:06.460
like immediately. It's like, okay, we're doubling in,
1812
01:16:06.460 --> 01:16:07.480
you know, in 10 minutes soon as the
1813
01:16:07.480 --> 01:16:10.500
news broke. So again, these are all things
1814
01:16:10.500 --> 01:16:11.900
that are just steps along the way, I
1815
01:16:11.900 --> 01:16:14.800
think, like they're obviously. And I think what
1816
01:16:14.800 --> 01:16:17.480
causes consternation and causes stress and anxiety with
1817
01:16:17.480 --> 01:16:19.360
ourselves too. I always thought about this in
1818
01:16:19.360 --> 01:16:22.260
my own life too, where Robert Kisakia always
1819
01:16:22.260 --> 01:16:24.080
used to talk about the three E's. And
1820
01:16:24.080 --> 01:16:25.360
now I'm going to forget some of them,
1821
01:16:25.360 --> 01:16:29.180
but it was education, experience, and excess cash
1822
01:16:29.180 --> 01:16:30.820
that he had. And when I found in
1823
01:16:30.820 --> 01:16:33.160
my life, whenever I had too much of
1824
01:16:33.160 --> 01:16:34.880
one and it was like too out of
1825
01:16:34.880 --> 01:16:36.360
whack with the others, it caused me stress
1826
01:16:36.360 --> 01:16:37.460
in my life. Like if I was getting
1827
01:16:37.460 --> 01:16:39.040
into something and it was, I had too
1828
01:16:39.040 --> 01:16:41.820
much, you know, education, but my experience wasn't
1829
01:16:41.820 --> 01:16:43.560
there and my cash wasn't like it caused
1830
01:16:43.560 --> 01:16:44.780
you and that's where you have like the
1831
01:16:44.780 --> 01:16:47.120
credentialist effect and things like that. So where
1832
01:16:47.120 --> 01:16:48.680
I'm going with all of this is that
1833
01:16:48.680 --> 01:16:50.800
this stuff takes time. And so all of
1834
01:16:50.800 --> 01:16:52.720
these things are just plots along the course
1835
01:16:52.720 --> 01:16:56.080
of this taking 10, 20 years, 26 years,
1836
01:16:56.080 --> 01:16:57.840
like we talked about earlier as well, of
1837
01:16:57.840 --> 01:16:59.360
these things happening. Every country is going to
1838
01:16:59.360 --> 01:17:02.000
get on the Bitcoin train. They're going to
1839
01:17:02.000 --> 01:17:04.400
take stuff by seizure. They're going to take
1840
01:17:04.400 --> 01:17:06.420
over companies and take their Bitcoin. They're going
1841
01:17:06.420 --> 01:17:07.860
to start mining Bitcoin. So all these things
1842
01:17:07.860 --> 01:17:09.720
to me are just, you know, the necessary
1843
01:17:09.720 --> 01:17:11.280
steps along the way. It's all of a
1844
01:17:11.280 --> 01:17:12.660
sudden the normie waking up, which is what
1845
01:17:12.660 --> 01:17:14.040
we, we talk about a lot of when
1846
01:17:14.040 --> 01:17:15.460
is everyone going to see this? We're waiting
1847
01:17:15.460 --> 01:17:17.300
for some big event to happen or some
1848
01:17:17.300 --> 01:17:18.560
silver bullet and all of a sudden we
1849
01:17:18.560 --> 01:17:20.440
get 10 % adoption overnight or there's some
1850
01:17:20.440 --> 01:17:22.820
big move. I just I don't see it
1851
01:17:22.820 --> 01:17:24.220
that way. I think it's just like, hey,
1852
01:17:24.220 --> 01:17:26.360
this stuff's inevitable. It's going to continue happening.
1853
01:17:26.360 --> 01:17:28.400
We will come on in Bigcast, the people
1854
01:17:28.400 --> 01:17:29.940
in chat, every will see these things. We'll
1855
01:17:29.940 --> 01:17:31.380
talk about them and it's just like we'll
1856
01:17:31.380 --> 01:17:33.000
wake up one day, five years from now,
1857
01:17:33.000 --> 01:17:34.820
seven years from. I'm like, oh, shit, half
1858
01:17:34.820 --> 01:17:36.480
the world's using Bitcoin. Like amazing, just like
1859
01:17:36.480 --> 01:17:38.200
we thought it would. So I think that's
1860
01:17:38.200 --> 01:17:43.060
where we're heading with it. Walker, your thoughts?
1861
01:17:43.060 --> 01:17:45.460
There are these certain things, I mean, Brendan
1862
01:17:45.460 --> 01:17:47.560
said it very well, but there are these
1863
01:17:47.560 --> 01:17:50.380
things where it's like, they're the stories that
1864
01:17:50.380 --> 01:17:52.080
Bitcoiners have told each other for a long
1865
01:17:52.080 --> 01:17:55.080
time. And they seem kind of far -fetched
1866
01:17:55.080 --> 01:17:58.180
at first. But then the suddenly part of
1867
01:17:58.180 --> 01:18:01.400
the gradually and suddenly happens very suddenly. And
1868
01:18:01.400 --> 01:18:03.840
all of a sudden, it's like, oh, oh,
1869
01:18:03.840 --> 01:18:05.460
oh shit, this nation is doing that, this
1870
01:18:05.460 --> 01:18:07.020
nation is doing that. You know, and at
1871
01:18:07.020 --> 01:18:08.220
first it's like, oh, it's, you know, it's
1872
01:18:08.220 --> 01:18:11.560
just El Salvador, you know, stacking Bitcoin, having
1873
01:18:11.560 --> 01:18:13.580
a legal tender law. Oh, but, you know,
1874
01:18:13.580 --> 01:18:15.240
the nayser, well, their legal tender law didn't
1875
01:18:15.240 --> 01:18:19.060
go so well. It's like, you're, you're, you
1876
01:18:19.060 --> 01:18:21.320
know, you're missing the forest through the low
1877
01:18:21.320 --> 01:18:25.860
IQ. Like, it, these things are going to
1878
01:18:25.860 --> 01:18:27.880
continue happening. And here's the thing that I
1879
01:18:27.880 --> 01:18:30.900
don't get about some bitcointers who will naysay
1880
01:18:30.900 --> 01:18:33.140
this stuff, like, or who will naysay corporate
1881
01:18:33.140 --> 01:18:36.260
adoption or nay say, nation state adoption or
1882
01:18:36.260 --> 01:18:38.180
nay say any sort of institutional adoption. It's
1883
01:18:38.180 --> 01:18:39.900
like, what did you think was going to
1884
01:18:39.900 --> 01:18:42.160
happen? Did you just want to be a
1885
01:18:42.160 --> 01:18:45.680
fucking? loser? Are you just, are you so
1886
01:18:45.680 --> 01:18:47.160
in love with the idea of being a
1887
01:18:47.160 --> 01:18:49.880
basement dwelling fucking loser that you can't appreciate
1888
01:18:49.880 --> 01:18:52.160
that this is what winning looks like. Winning
1889
01:18:52.160 --> 01:18:54.940
looks like everybody in the fucking world acknowledging
1890
01:18:54.940 --> 01:18:58.440
that Bitcoin is the superior, the ultimate, the
1891
01:18:58.440 --> 01:19:02.200
apex monetary technology that has ever fucking existed.
1892
01:19:02.200 --> 01:19:05.840
Of course, every fucking individual, every fucking corporation,
1893
01:19:05.840 --> 01:19:07.920
every fucking nation state, every fucking pension fund,
1894
01:19:07.920 --> 01:19:10.340
every fucking fucking is going to want to
1895
01:19:10.340 --> 01:19:12.560
have Bitcoin. You, the thing, the thing, about
1896
01:19:12.560 --> 01:19:14.440
Bitcoin is, and a lot of people I
1897
01:19:14.440 --> 01:19:17.380
think in a certain crowd need to hear
1898
01:19:17.380 --> 01:19:21.640
this, you don't get to decide who uses
1899
01:19:21.640 --> 01:19:24.140
Bitcoin or how they use it or what
1900
01:19:24.140 --> 01:19:25.880
they use it for. It's kind of the
1901
01:19:25.880 --> 01:19:28.940
whole fucking point. And if you don't understand
1902
01:19:28.940 --> 01:19:31.280
that, like you're going to be really disappointed
1903
01:19:31.280 --> 01:19:32.920
in the years to come while the rest
1904
01:19:32.920 --> 01:19:34.820
of us are celebrating the fact that Bitcoin
1905
01:19:34.820 --> 01:19:37.580
is the Trojan horse for freedom, infiltrating all
1906
01:19:37.580 --> 01:19:40.060
these institutions with number go up, while secretly
1907
01:19:40.060 --> 01:19:42.660
slipping in the belly of our Trojan horse,
1908
01:19:42.660 --> 01:19:44.300
the freedom go up, that will be able
1909
01:19:44.300 --> 01:19:48.040
to finally, finally, give us the tools that
1910
01:19:48.040 --> 01:19:49.700
allow us to bend the state over a
1911
01:19:49.700 --> 01:19:51.340
barrel and show it the 50 states, if
1912
01:19:51.340 --> 01:19:54.820
you know what I mean. Joey knows. I
1913
01:19:54.820 --> 01:19:56.440
think I said something before the show that
1914
01:19:56.440 --> 01:19:57.740
I won't repeat. You know what, you know,
1915
01:19:57.740 --> 01:19:59.320
it's interesting about the Japan. Yeah, something weird,
1916
01:19:59.320 --> 01:20:01.720
guys. I said that I was take, I
1917
01:20:01.720 --> 01:20:04.340
was taken Eastern Canadian thing. I was taking
1918
01:20:04.340 --> 01:20:06.020
a shit. I was taking the ship before
1919
01:20:06.020 --> 01:20:07.560
the show. This is your back, Chad. Okay.
1920
01:20:07.560 --> 01:20:08.260
I'm not, you don't have to pay really
1921
01:20:08.260 --> 01:20:09.480
sense. I cannot believe you're actually going to
1922
01:20:09.480 --> 01:20:10.880
say this on. I was taking a shit.
1923
01:20:10.880 --> 01:20:12.700
before the show Ben tries to round up
1924
01:20:12.700 --> 01:20:13.860
the troops. Nathan tries to round up the
1925
01:20:13.860 --> 01:20:15.520
troops before the show. We're always late. Obviously,
1926
01:20:15.520 --> 01:20:16.440
you guys know that. And I was taking
1927
01:20:16.440 --> 01:20:17.820
a shit and I said, I'm flexing my
1928
01:20:17.820 --> 01:20:19.600
balloon knot right now. I'll be there in
1929
01:20:19.600 --> 01:20:20.880
a second. And they didn't know what it
1930
01:20:20.880 --> 01:20:23.400
meant. I thought that was like a, anyway,
1931
01:20:23.400 --> 01:20:24.780
it doesn't matter. You're not going to hear
1932
01:20:24.780 --> 01:20:27.500
me to say that ever again. So look,
1933
01:20:27.500 --> 01:20:29.820
you know what's fun? The Japan thing, the
1934
01:20:29.820 --> 01:20:33.060
Japan thing is fun because South Korea did
1935
01:20:33.060 --> 01:20:34.760
another like pass the law. I think the
1936
01:20:34.760 --> 01:20:37.160
day like yesterday, was it yesterday, two days
1937
01:20:37.160 --> 01:20:39.560
ago, something like that. So they're now saying
1938
01:20:39.560 --> 01:20:42.420
it's property like, uh, real estate IP, whatever
1939
01:20:42.420 --> 01:20:45.100
else. So you got basically this like wave
1940
01:20:45.100 --> 01:20:48.500
happening. And like you could say what you
1941
01:20:48.500 --> 01:20:50.560
want about the Asian markets. I know I
1942
01:20:50.560 --> 01:20:52.740
think I called them kangaroo currencies, you know,
1943
01:20:52.740 --> 01:20:55.140
beginning of the show, but those guys, they
1944
01:20:55.140 --> 01:20:56.920
got some weight to throw around, right? Like
1945
01:20:56.920 --> 01:20:58.540
I wouldn't want to get on their bad
1946
01:20:58.540 --> 01:21:01.060
side if I didn't have to. To Walker's
1947
01:21:01.060 --> 01:21:03.740
point, what does winning look like in Bitcoin?
1948
01:21:03.740 --> 01:21:06.560
It looks like two things. It looks like,
1949
01:21:06.560 --> 01:21:08.140
as you mentioned there Walker, the slowly starting
1950
01:21:08.140 --> 01:21:09.300
to pick up a little bit and start
1951
01:21:09.300 --> 01:21:10.800
to look a little bit like suddenly, if
1952
01:21:10.800 --> 01:21:12.860
you squint and it looks like the quality
1953
01:21:12.860 --> 01:21:14.580
of your enemy is increasing because what does
1954
01:21:14.580 --> 01:21:15.980
that tell you? It tells you that both
1955
01:21:15.980 --> 01:21:18.040
your allies and the people that want you
1956
01:21:18.040 --> 01:21:21.240
dead appreciate that this thing is high quality.
1957
01:21:21.240 --> 01:21:22.840
Like what else you need to see? You
1958
01:21:22.840 --> 01:21:24.780
got all of Europe going after this thing
1959
01:21:24.780 --> 01:21:26.520
on on DAC 8. You got the Asian
1960
01:21:26.520 --> 01:21:29.160
countries adopting slowly or changing laws to allow
1961
01:21:29.160 --> 01:21:31.100
adoption, as we said earlier, like not impeding
1962
01:21:31.100 --> 01:21:34.060
the growth of Bitcoin. Then you have on
1963
01:21:34.060 --> 01:21:36.900
the American side, I mean, yeah, did they
1964
01:21:36.900 --> 01:21:38.340
steal the Bitcoin? Sure, but at least they're
1965
01:21:38.340 --> 01:21:41.120
not selling it. That's a step, right? I
1966
01:21:41.120 --> 01:21:43.740
did see that Scotty B was with um
1967
01:21:43.740 --> 01:21:46.620
was it jesse waters i think the fox
1968
01:21:46.620 --> 01:21:48.820
guy with what is obviously like the second
1969
01:21:48.820 --> 01:21:51.420
best hair after bow hines or whatever that
1970
01:21:51.420 --> 01:21:53.020
guy in your ads has been i think
1971
01:21:53.020 --> 01:21:55.320
carry fraser the old no no no no
1972
01:21:55.320 --> 01:21:57.080
no no not carri fraser not carriza no
1973
01:21:57.080 --> 01:21:59.640
waters waters has like crazy here that guy
1974
01:21:59.640 --> 01:22:01.320
i don't know what that guy's eating but
1975
01:22:01.320 --> 01:22:05.040
thick anyway so uh they he's talking to
1976
01:22:05.040 --> 01:22:07.120
um besant in i think the white house
1977
01:22:07.120 --> 01:22:09.740
and besant says they they've very very very
1978
01:22:09.740 --> 01:22:11.760
very very I mean you didn't see it
1979
01:22:11.760 --> 01:22:14.700
obviously, A none, but they did, verified that
1980
01:22:14.700 --> 01:22:16.080
all the gold is in Fort Knox. Like
1981
01:22:16.080 --> 01:22:19.080
these things in a vacuum, they kind of
1982
01:22:19.080 --> 01:22:22.100
seem insignificant, right? It's a passing comment made.
1983
01:22:22.100 --> 01:22:24.160
But if you start putting them all together,
1984
01:22:24.160 --> 01:22:25.820
you know, the mosaic starts to take shape
1985
01:22:25.820 --> 01:22:28.060
a little bit. And you got to remember
1986
01:22:28.060 --> 01:22:29.600
that when you're looking at a mosaic, the
1987
01:22:29.600 --> 01:22:33.100
individual pieces are, like I said, insignificant. But
1988
01:22:33.100 --> 01:22:35.860
together, you're seeing some trends, you're seeing some
1989
01:22:35.860 --> 01:22:37.960
whatever. It's good stuff. I like the way
1990
01:22:37.960 --> 01:22:41.560
this is going. And they're never going to
1991
01:22:41.560 --> 01:22:43.520
give away any of that stuff, by the
1992
01:22:43.520 --> 01:22:45.440
way. So they got a Bitcoiners, gold bugs,
1993
01:22:45.440 --> 01:22:46.880
like, don't hold your breath. Like, that's not,
1994
01:22:46.880 --> 01:22:50.440
that's just, that's military, you know, that's a,
1995
01:22:50.440 --> 01:22:51.720
that's art of war. Like, why would I
1996
01:22:51.720 --> 01:22:54.680
ever tell you, you know, what we have?
1997
01:22:54.680 --> 01:22:56.020
So don't wait for that. It's not going
1998
01:22:56.020 --> 01:22:59.500
to happen. Yeah. Gens, just to round out
1999
01:22:59.500 --> 01:23:03.440
here, quick updated of affairs that will continue
2000
01:23:03.440 --> 01:23:05.860
to ping pong back and forth for the
2001
01:23:05.860 --> 01:23:09.980
foreseeable future here. But Iran, blockade, reinstate. stated
2002
01:23:09.980 --> 01:23:12.780
US now charging 20 % on Strait of
2003
01:23:12.780 --> 01:23:16.780
Hermuz cargo. This product looks like a randomly
2004
01:23:16.780 --> 01:23:18.860
generated video game character. What the fuck was
2005
01:23:18.860 --> 01:23:23.540
that? I don't know. Nonetheless, I'm not going
2006
01:23:23.540 --> 01:23:25.300
to read this whole thing, but like I
2007
01:23:25.300 --> 01:23:27.900
love the way he starts things. Oil is
2008
01:23:27.900 --> 01:23:32.980
flowing, like never before. Like just so good.
2009
01:23:32.980 --> 01:23:38.680
Nonetheless, yeah, I don't know, threatening Iran again.
2010
01:23:38.680 --> 01:23:41.900
Nonetheless. There was a meeting in the Situation
2011
01:23:41.900 --> 01:23:45.560
Room on Thursday, massive offensive on Iran for
2012
01:23:45.560 --> 01:23:52.460
Axios. Who was there? There was Vance, Rubio,
2013
01:23:52.460 --> 01:23:56.960
Hegeseth, Dan Cain, John Ratcliffe, Steve Wickcliffe, plenty
2014
01:23:56.960 --> 01:24:00.940
of other people. Yeah. So, I mean, I
2015
01:24:00.940 --> 01:24:03.060
was not, I didn't have my finger on
2016
01:24:03.060 --> 01:24:04.600
the pulse of what was going on while
2017
01:24:04.600 --> 01:24:06.120
I was away, but I didn't see apparently
2018
01:24:06.120 --> 01:24:08.480
there's a new war. I didn't know that
2019
01:24:08.480 --> 01:24:10.320
the original one had stopped. But here we
2020
01:24:10.320 --> 01:24:12.840
are. But I just wanted to say that
2021
01:24:12.840 --> 01:24:16.560
Luke Groman chiming in here, calling back to
2022
01:24:16.560 --> 01:24:19.120
the CPI data from earlier at the beginning
2023
01:24:19.120 --> 01:24:21.560
of the show. Given the reignition of the
2024
01:24:21.560 --> 01:24:24.980
war, the Iran war earlier this week, the
2025
01:24:24.980 --> 01:24:27.540
inference seems to be that the U .S.
2026
01:24:27.540 --> 01:24:30.040
can go to war on weekends while markets
2027
01:24:30.040 --> 01:24:32.680
are closed, as long as CPI is below
2028
01:24:32.680 --> 01:24:37.300
a certain threshold. And then lastly, Ron Paul
2029
01:24:37.300 --> 01:24:40.020
chiming in while Trump administration officials can continue
2030
01:24:40.020 --> 01:24:42.940
to provide lowball figures for how much the
2031
01:24:42.940 --> 01:24:46.320
Iran war has cost the United States. A
2032
01:24:46.320 --> 01:24:50.180
thorough look at the most, quote, most unpopular
2033
01:24:50.180 --> 01:24:53.560
war in U .S. history reveals an astronomical
2034
01:24:53.560 --> 01:24:55.800
price tag that will only get bigger over
2035
01:24:55.800 --> 01:24:58.460
time the next generation. We'll be left holding
2036
01:24:58.460 --> 01:25:03.280
the bill from this suicidal folly. We don't
2037
01:25:03.280 --> 01:25:05.600
need to dive deep on this, but before
2038
01:25:05.600 --> 01:25:07.820
we wrap here, I'll go down the line,
2039
01:25:07.820 --> 01:25:09.640
get any quick thoughts on the state of
2040
01:25:09.640 --> 01:25:13.520
things. things. Walker, I'll jump to you first,
2041
01:25:13.520 --> 01:25:18.660
then Brandon and then Joey. But there's just,
2042
01:25:18.660 --> 01:25:21.000
there's always going to be more war. That's
2043
01:25:21.000 --> 01:25:23.440
the thing. Like, it's kind of necessary to
2044
01:25:23.440 --> 01:25:25.440
keep the machine going, right? Keep the beast
2045
01:25:25.440 --> 01:25:28.880
fed. I don't know. I don't have much
2046
01:25:28.880 --> 01:25:30.520
more to say on it than that. I
2047
01:25:30.520 --> 01:25:32.380
will just say, guys, that amidst all the
2048
01:25:32.380 --> 01:25:36.040
uncertainty, amidst all of the political maneuvering, amidst
2049
01:25:36.040 --> 01:25:38.680
all of the fucking shit hitting the fan
2050
01:25:38.680 --> 01:25:41.940
fucking constant. constantly. I'm glad that we have
2051
01:25:41.940 --> 01:25:43.380
all of each other. I'm glad that I
2052
01:25:43.380 --> 01:25:44.980
have Bitcoins. I'm glad that I have Bitcoin
2053
01:25:44.980 --> 01:25:47.920
more so than Bitcoiners. No offense, Bitcoiners. But
2054
01:25:47.920 --> 01:25:48.980
the, you know, the bitcoins are a nice
2055
01:25:48.980 --> 01:25:50.520
plus alongside of it. I'm glad that I
2056
01:25:50.520 --> 01:25:54.420
have this chat, which stays spicy and stays
2057
01:25:54.420 --> 01:25:59.740
always respectful, guys. Always very respectful. So shout
2058
01:25:59.740 --> 01:26:00.860
out to the chat. We still need a
2059
01:26:00.860 --> 01:26:03.580
name for you guys. So come up with
2060
01:26:03.580 --> 01:26:08.800
one. Yeah. I second that. Yeah, I saw
2061
01:26:08.800 --> 01:26:10.700
a crazy stat the other day. that it
2062
01:26:10.700 --> 01:26:12.320
was something like, you know, there's only been
2063
01:26:12.320 --> 01:26:14.300
like 40 or 50 days of like actual
2064
01:26:14.300 --> 01:26:17.400
bombing going on. Uh, you know, what was
2065
01:26:17.400 --> 01:26:18.580
going on for like four months or something
2066
01:26:18.580 --> 01:26:20.780
like that, but, um, you know, this thing
2067
01:26:20.780 --> 01:26:22.620
obviously gets dragged out and they have a
2068
01:26:22.620 --> 01:26:24.580
million ceasefires and we're going back on it,
2069
01:26:24.580 --> 01:26:26.780
whatever, which again, I was, I was listening
2070
01:26:26.780 --> 01:26:28.400
to Tom Luongue other day and he shared
2071
01:26:28.400 --> 01:26:29.740
a lot of my sentiment too of just
2072
01:26:29.740 --> 01:26:31.420
kind of just zooming out and being like,
2073
01:26:31.420 --> 01:26:33.400
well, what would I do if I was
2074
01:26:33.400 --> 01:26:35.280
Iran, Israel or whatever is going on? I
2075
01:26:35.280 --> 01:26:36.660
want to perpetuate these words. You look at
2076
01:26:36.660 --> 01:26:40.680
Zelensky in Ukraine and or the Boris Johnson
2077
01:26:40.680 --> 01:26:42.620
stuff, he look at Zelensky, and he's like,
2078
01:26:42.620 --> 01:26:44.000
every time it's like, yeah, we want a
2079
01:26:44.000 --> 01:26:45.700
peace deal. Okay, I want Crimea. It's like,
2080
01:26:45.700 --> 01:26:47.780
dude, you're not getting Crimea, bro. Like, what
2081
01:26:47.780 --> 01:26:49.600
are you talking about? And, but so it's
2082
01:26:49.600 --> 01:26:51.760
this perpetuation of war where there's someone in
2083
01:26:51.760 --> 01:26:54.140
the room somewhere, and for those of you
2084
01:26:54.140 --> 01:26:55.720
who have heard me talk for a while,
2085
01:26:55.720 --> 01:26:57.440
you know who it is, but there's going
2086
01:26:57.440 --> 01:26:58.440
to be someone in Iran, there's going to
2087
01:26:58.440 --> 01:26:59.560
be someone in Israel, there's going to be
2088
01:26:59.560 --> 01:27:01.960
someone in Ukraine that just keeps perpetuating these
2089
01:27:01.960 --> 01:27:02.780
wars. All of a sudden, they're going to
2090
01:27:02.780 --> 01:27:04.260
shoot a few rockets off, and we got
2091
01:27:04.260 --> 01:27:05.920
a deal. Trump walks out with the team
2092
01:27:05.920 --> 01:27:07.040
and then like, wait, what do you mean?
2093
01:27:07.040 --> 01:27:08.860
We don't have a deal. So my prediction
2094
01:27:08.860 --> 01:27:10.940
is that you're going to see, the 10
2095
01:27:10.940 --> 01:27:13.040
times the heat come. So every time there's
2096
01:27:13.040 --> 01:27:14.440
a strike, you're going to see 10 times
2097
01:27:14.440 --> 01:27:15.680
the heat. And to Walker's point, there's going
2098
01:27:15.680 --> 01:27:16.820
to be more war. There's always going to
2099
01:27:16.820 --> 01:27:20.200
be war. But I think that the visionary
2100
01:27:20.200 --> 01:27:21.560
world that we all see, I think there'll
2101
01:27:21.560 --> 01:27:23.260
be less of it going forward on a
2102
01:27:23.260 --> 01:27:26.120
Bitcoin standard. But that's not where the puck
2103
01:27:26.120 --> 01:27:28.520
lies, as they say right now. We're not
2104
01:27:28.520 --> 01:27:30.440
in that world quite yet. So we have
2105
01:27:30.440 --> 01:27:33.540
to bridge that world and get there. Joey,
2106
01:27:33.540 --> 01:27:36.300
I'll give you the final word here. Sure.
2107
01:27:36.300 --> 01:27:38.140
Ron Paul may wind up being the most
2108
01:27:38.140 --> 01:27:40.840
important voice that American politics has had since
2109
01:27:40.840 --> 01:27:43.640
the founders when all is said and done.
2110
01:27:43.640 --> 01:27:45.280
So listen to him, read him if you
2111
01:27:45.280 --> 01:27:47.320
haven't. He won't be with us much longer,
2112
01:27:47.320 --> 01:27:51.280
unfortunately, but a true juggernaut of economics, politics,
2113
01:27:51.280 --> 01:27:53.700
and policy around these things that not enough
2114
01:27:53.700 --> 01:27:58.060
people appreciate. Hell yeah. Awesome. Jens, this was
2115
01:27:58.060 --> 01:27:59.920
fantastic. Everybody in the chat. Thank you guys
2116
01:27:59.920 --> 01:28:01.420
for being here again. Make sure you smash
2117
01:28:01.420 --> 01:28:03.560
that like button, give this a share everywhere.
2118
01:28:03.560 --> 01:28:05.360
And also, we're just a couple weeks out
2119
01:28:05.360 --> 01:28:09.080
to the launch of So, you know, playing
2120
01:28:09.080 --> 01:28:09.720
the clip at the end of the end
2121
01:28:09.720 --> 01:28:11.040
of to the show here. Make sure you
2122
01:28:11.040 --> 01:28:12.620
tune in. If you don't know what the
2123
01:28:12.620 --> 01:28:14.820
hell it is, you're going to find out
2124
01:28:14.820 --> 01:28:17.200
right now. But anyways, thank you guys very
2125
01:28:17.200 --> 01:28:20.060
much. Super happy to be back. I'll be
2126
01:28:20.060 --> 01:28:24.140
back again on Friday and subsequent weeks here
2127
01:28:24.140 --> 01:28:27.220
from my remote location where it's very late
2128
01:28:27.220 --> 01:28:29.460
at night right now. So I'm Ben. This
2129
01:28:29.460 --> 01:28:33.700
is Walker, Joey, Brandon. And this was BitCast.
2130
01:28:33.700 --> 01:28:36.300
See you guys next. Singer guns. You know
2131
01:28:36.300 --> 01:28:39.740
the world is heading down a dark path.
2132
01:28:39.740 --> 01:28:42.920
censorship, central bank digital currencies, a complete loss
2133
01:28:42.920 --> 01:28:46.120
of privacy, and it's only accelerating. Most people
2134
01:28:46.120 --> 01:28:48.700
are falling behind with the latest technology, and
2135
01:28:48.700 --> 01:28:51.300
those that aren't are sacrificing their data, their
2136
01:28:51.300 --> 01:28:55.000
control, and their dignity just to keep up.
2137
01:28:55.000 --> 01:28:57.780
That doesn't have to be you. Here, you'll
2138
01:28:57.780 --> 01:29:00.280
have everything you need to break free. Over
2139
01:29:00.280 --> 01:29:02.920
the past decade, I've helped 20 million people
2140
01:29:02.920 --> 01:29:05.200
take control of their money, their data, and
2141
01:29:05.200 --> 01:29:07.980
their digital lives. Now I'm bringing everything I've
2142
01:29:07.980 --> 01:29:10.960
learned to one place. Sovereign Sessions is your
2143
01:29:10.960 --> 01:29:14.320
home to learn, master, and live freedom tech.
2144
01:29:14.320 --> 01:29:19.260
Bitcoin, AI, private communications, self -hosted tools, everything.
2145
01:29:19.260 --> 01:29:21.020
Each week, I'll walk you through step by
2146
01:29:21.020 --> 01:29:23.840
step with the most critical tools that put
2147
01:29:23.840 --> 01:29:26.940
you back in charge. Don't ask permission, take
2148
01:29:26.940 --> 01:29:46.180
control. Welcome to the Sovereign Sessions. Thank you.