Latest / Simply Bitcoin / CJ Konstantinos | WW3 is Financial | Simply Bitcoin TTO

Transcript

CJ Konstantinos | WW3 is Financial | Simply Bitcoin TTO · Simply Bitcoin

• 0:00
  Let's go, everyone. All right, one second, one
• 0:02
  second, I just realized I did not start the spaces, so a
• 0:06
  little uh professional right now.
• 0:08
  But I'm just super hyped to have this conversation.
• 0:10
  So we're going live to everyone in the spaces.
• 0:13
  One second to you guys on YouTube.
• 0:15
  Give me one second. All right, we're live.
• 0:18
  Okay guys. This one I think is going to be
• 0:23
  an absolute rip when I scheduled this with CJ, we literally had
• 0:28
  no idea any of this stuff was on the horizon and we couldn't have
• 0:32
  picked a better day for us to have this conversation.
• 0:35
  When CJ came on the live show. He absolutely took over the
• 0:39
  show, Absolutely killed it, and a lot of the things he said,
• 0:42
  were very prescient to the current moment.
• 0:44
  We are seeing and then I knew we were going to do this
• 0:47
  conversation. So I picked a few little threads
• 0:49
  from his Twitter account because he just keeps nailing the head,
• 0:52
  the, the nail on the head on what's going on right now, in my
• 0:55
  opinion. So, without further Ado, I'm
• 0:57
  bringing in CJ and we're just going to let this one rip
• 1:00
  because if you guys saw the live show, CJ just went bananas on us
• 1:05
  and absolutely blew us away. So, without further Ado, CJ how
• 1:10
  you doing today? How you been since we talked a
• 1:13
  week ago, man, went by fast it Now man as we like to do over
• 1:22
  here honestly I usually do more of like a social cultural bent
• 1:27
  to my my podcast but again this this one I think is just going
• 1:32
  to be just too much signal so this is where we're going to go
• 1:35
  today. We might actually talk a little
• 1:37
  bit of Bitcoin guys so buckle up and I think we're going to get
• 1:42
  our minds blown today. Alright, so first and foremost,
• 1:45
  one thing you said on the show, what was that two weeks ago?
• 1:49
  Which I I thought was very, very prudent was the idea of
• 1:54
  inflation is the signal. We've been waiting for
• 1:57
  inflation, is the sign that things are blowing up and that
• 2:00
  bitcoiners are right. So you want to start there and
• 2:03
  then we'll just leave the conversation wherever we go.
• 2:06
  Yeah, sure. So, you know, on that episode, a
• 2:10
  lot of stuff that I talked about actually is starting to unfold
• 2:13
  right now. So it's happening even faster
• 2:16
  than some of us can really eat realize, most mostly because
• 2:19
  it's happening. The hood, right?
• 2:21
  And then the, the powers-that-be, the authorities,
• 2:23
  you know, their data is not as accurate as it should be, but
• 2:27
  when you talk about inflation, where you really have to go to
• 2:30
  is the definition of inflation because what we're seeing is
• 2:32
  like two different viewpoints, bashing heads and we don't even
• 2:37
  have the right words to explain our viewpoints because the
• 2:40
  keynesians, you know, the modern monetary theorists are saying,
• 2:44
  inflation is one thing and then free market Advocates are
• 2:47
  saying, inflation is another thing.
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  So Obviously, you know, yelling came out from Powell's answers
• 2:53
  the other day. We can tell that they don't
• 2:55
  think that running a budget deficit causes inflation.
• 2:59
  They don't think that increasing the currency ply Supply causes
• 3:03
  inflation. So they just changed the
• 3:05
  definition of inflation to a general rise in prices.
• 3:09
  But that is not the correct definition of inflation.
• 3:12
  The correct definition of inflation is a general rise in
• 3:15
  prices because of an increase in the currency Supply.
• 3:20
  Units that steal their purchasing power from all other
• 3:23
  currency units. So they're just lopping off the
• 3:26
  because of what's happening and using a very generalized
• 3:30
  definition and the best way to imagine this is to just quickly
• 3:34
  kind of go through the economics of how this would work.
• 3:36
  So today we see that the economy is struggling in real terms,
• 3:41
  right? So GDP without the right CPI GDP
• 3:44
  GDP deflator is still positive but when you go back and you
• 3:48
  look at real CPI in Plug that in and have the proper deflator.
• 3:52
  GDP is stagnant or going down. What do I mean by that?
• 3:55
  I mean, the economy is not growing super fast.
• 3:58
  The economy is not the reason why prices were going up the
• 4:01
  cure to higher prices higher prices.
• 4:03
  So if the economy was, the reason that prices were going up
• 4:06
  like the government says it is. Well, then that would be a good
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  thing because as far as prices go up, producers make more money
• 4:13
  and as producers make more money, they increase their
• 4:16
  supply. And when they increase their
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  supply, they lower their marginal cost of production.
• 4:20
  The example I used last time is, if you can build a million water
• 4:24
  bottles, it's going to be cheaper per water bottle than if
• 4:26
  you produce 100,000 water bottles.
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  So this process, which is a natural free market process,
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  it's the price Discovery mechanism that signals to
• 4:35
  entrepreneurs who build businesses and create jobs where
• 4:38
  there's opportunity to make a profit.
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  That's what draws their attention.
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  So profit is a good thing and those higher prices Drive
• 4:45
  profit, which drives Supply, which lowers the marginal cost
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  of production, which eventually allows producers to lower the
• 4:52
  front end price, because they're more concerned about moving more
• 4:55
  units than they are about at a higher price.
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  So if we were seeing that kind of inflation, then what we would
• 5:02
  really see is GDP like we've never seen before.
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  GDP would be off the charts because the economy would be so
• 5:07
  hot. That be the reason that all the
• 5:09
  prices are getting pushed up. But instead the real reason that
• 5:13
  the prices are going up is not because of demand from the
• 5:16
  economy. But from a lack of purchasing
• 5:19
  power from the dollar, The dollar gets continuously diluted
• 5:23
  and day after day. It can buy less and less and
• 5:25
  less. Now temporarily.
• 5:27
  There's been an increase in purchasing power, because the
• 5:29
  Federal Reserve has raised interest rates in the most
• 5:33
  aggressive clip in modern history.
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  So because of this extreme rise in interest rates, there has
• 5:38
  been a temporary value of purchasing power driven into the
• 5:42
  dollar, especially against other Fiat currencies.
• 5:45
  But when push comes to shove on a net basis with, they're still
• 5:49
  alive. Time to the forty percent
• 5:51
  increase of dollars they printed as a result of covid.
• 5:54
  So, this disinflationary wave we've had this little break that
• 5:58
  we've had is solely due to the increase in interest rates
• 6:01
  attracting people into the dollar and buying demand into
• 6:04
  the dollar. But if they really knew that the
• 6:07
  real rate of inflation was double what the government's Epi
• 6:10
  says, well maybe they won't be rushing into the dollars much so
• 6:14
  there's all this data, there's all these facts, it's all
• 6:16
  getting spend around and it's simply not true.
• 6:19
  Another way I like Think of this and I want to use a different
• 6:22
  example this show than I did last show is that there's two
• 6:25
  sides to every transaction, right?
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  You have the currency and then you have the actual good or
• 6:31
  service. So in this case scenario, prices
• 6:34
  can go up and down based on the currency or based on the good
• 6:39
  and the service. So let's just take the good and
• 6:41
  service first, right? So the good and service affects
• 6:44
  the price through the basic free market price, Discovery
• 6:46
  mechanism, which is a supply-demand equilibrium.
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  So, The supply goes up and the demand goes down the price comes
• 6:53
  down. If the demand goes up Supply
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  goes down, price goes up and all everything in between there, but
• 6:58
  it's a free market signal based on the supply-demand
• 7:01
  equilibrium. So when there was a supply shock
• 7:03
  after covid, yes. Partially prices were going up
• 7:07
  because there was a lack of Supply against consistent demand
• 7:10
  but that's just one side of the currency pairing.
• 7:13
  Remember, the other side is the actual USD currency.
• 7:16
  So we have to understand what's being used to trade if you think
• 7:18
  about it and really old Like they used to use the sea shells,
• 7:22
  right? Well as more and more people
• 7:24
  were getting seashells and people started to figure out
• 7:26
  well these things really aren't worth that much the prices start
• 7:28
  going up. Well the prices started going up
• 7:31
  because more and more people were buying stuff no prices
• 7:33
  started going up because more and more people were using the
• 7:36
  seashells and it was revealed that they weren't worth as much.
• 7:39
  So that's the same thing that's happening right now.
• 7:41
  More and more currency is being printed and with the feds new
• 7:44
  program that just the banking term funding program, they just
• 7:47
  launched JP, Morgan came out today and said, It could inject
• 7:51
  up to two trillion dollars into the system.
• 7:54
  Well, that's not quantitative tightening, that's not reducing
• 7:57
  the currency Supply. That's significantly increasing
• 8:00
  the currency Supply. Remember they printed about five
• 8:03
  trillion for covid. This is this is almost 50% of
• 8:06
  that. This should be an overall
• 8:08
  upwards of 10% plus increase in the currency Supply.
• 8:11
  And people are sitting around thinking the prices are going to
• 8:14
  go down which is a weird concept.
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  Let me get in the dollar. Let me get it sit on the
• 8:18
  sidelines because prices are going to go down But the same
• 8:21
  time, the government is telling me, the economy is on fire, so
• 8:24
  which one is it? It's this hypocrisy that is
• 8:27
  really starting to reveal that we're in what I call Financial
• 8:31
  covid, right? During covid.
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  The data was botched, the narratives were controlled.
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  And in hindsight we can look back and say wow that was some
• 8:40
  messed-up stuff happens. Well a year from now we're gonna
• 8:43
  be able to look back in hindsight and say whoa, some
• 8:46
  messed up stuff happened but it's Financial covid, not
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  Medical Well covid. We are being the data isn't,
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  right? It's getting mixed up and we
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  need to get our definitions, right?
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  So that's why it's so important for people.
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  Understand inflation is a general rise in prices, but not
• 9:00
  because of the economy because of the dilution of the dollar,
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  Who. All right, we're starting
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  strong. We're starting strong beautiful.
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  Well, my first question is, I don't want to ask that question
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  out right yet, because I think I can lead you to their a little
• 9:18
  bit. But how has been your experience
• 9:22
  on trying to convey this message to people that it's not, you
• 9:26
  know, the Bitcoin price necessarily going up or, you
• 9:29
  know, the inflation, the prices of goods going up its that the
• 9:32
  dollar is getting weaker. Yeah, it's sometimes it's a hard
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  message to convey but you know like in 2016 I would tell people
• 9:40
  about inflation they'd be like dude I don't really care.
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  I'm not you know inflation is less than 2%.
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  If my Dollar Store item goes from a dollar to a dollar to,
• 9:50
  it's not really going to affect my life.
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  But now Dollar Store items are a dollar twenty-five, and more
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  expensive items are going up even more than that.
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  So people are starting to pay attention now versus back then
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  and that's really another sign, because one of the tweets I sign
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  out. Somebody told me they like, the
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  way I say this, the only difference between inflation and
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  hyperinflation is trust, and a lot of people don't realize that
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  but if you go back and you study these systems and you study what
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  happens, there's no one mathematical point in time where
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  you can say, oh, once they breached this amount of printing
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  or once they did this, then that's when we went from
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  inflation and hyperinflation know every single time the
• 10:31
  catalyst is always the trust of the people.
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  Bowl. And that's what makes this
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  current banking crisis. So serious.
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  It's not about that. The banks are going to close in
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  your money isn't going to be there.
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  The, your money's going to be there.
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  Honestly, you shouldn't be worried about your money in the
• 10:45
  bank. You should be worried about how
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  much you're going to be able to buy with the money in the bag.
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  That's the real issue here. The real issue is they are
• 10:53
  diluting the dollar at such a fast pace that if you think
• 10:56
  prices went up quickly from 2020 until 2023, wait until you see
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  what happens to prices from 2023 to 2026.
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  It is Going to get more violent, more volatile and more
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  aggressive than it's ever been because they are not pumping the
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  brakes. Even though they say they are,
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  they are pressing the gas and when they're doing this putting
• 11:13
  two trillion dollars in right now, who knows what other banks
• 11:16
  are going to be exposed. I know you don't want me to dive
• 11:20
  right into it, but I have to say it thanking balance sheets are
• 11:22
  worth shit and it's fractional reserves, its fractional Reserve
• 11:26
  so so what the government comes in and says well we're going to
• 11:29
  value your collateral at par so all that principal value loss
• 11:32
  from from buying. Treasuries at low yield and
• 11:35
  holding them all the way up as the yields rise.
• 11:37
  Do that principle value lost? You have to worry about it.
• 11:40
  Well, that's fine, but reserves aren't backed, 121 reserves,
• 11:43
  there is no Reserve requirement after covid, they never change
• 11:46
  that back, there's just Capital ratios according to Basil
• 11:50
  banking walls. So, the banks can basically do
• 11:52
  whatever the hell they want and take whatever risk they want.
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  And then the small fraction that they keep in reserves, it's
• 11:58
  fractional. And guess what, if a bank even a
• 12:01
  big Bank who properly hedge their Risk has to sell off
• 12:05
  because the positive ones, their money, not all of that Reserve
• 12:09
  is kept in perfectly liquid cash, equivalents Banks would
• 12:12
  have to start selling off assets.
• 12:14
  And guess what, if they start selling off assets, that means
• 12:16
  they're going to be pulling liquidity from the market.
• 12:19
  So anybody that trades with size knows that whenever you're using
• 12:22
  big position, there's always a slippage Factor, you have to
• 12:24
  figure out how much of the book that you can actually take.
• 12:27
  If these Banks start taking big portions of the books, it's a
• 12:31
  doom Luke. They're going to L the bank's
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  right to sell off. Assets.
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  All at the same time to raise the reserves to actually give
• 12:37
  for the withdrawal demand and prices would crater.
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  So and and are they going to let that happen know?
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  They're just going to provide liquidity.
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  But guess what? When you provide liquidity,
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  that's the definition of inflation.
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  So you can't get it both ways and that's why they have to deny
• 12:53
  it. But at the factory, the point
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  where we are right now, their denials almost laughable.
• 12:57
  You know, I saw a pound that in the, in the Congress but his
• 13:00
  testimony, he could barely answer the question here that
• 13:02
  the girls like white I 2 % Y 2 percent, I mean, I'm CJ
• 13:06
  konstantinos, I don't work at the Federal Reserve but I know
• 13:09
  how the system works and I can answer that question better than
• 13:11
  he can. Well, lady.
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  We are the reserve currency of the world.
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  So as the global economy grows, we have to grow the dollar
• 13:19
  supply or else we're going to have deflation and deflation is
• 13:23
  the evil monster of modern monetary Theory.
• 13:26
  So does he was he ignoring the question?
• 13:28
  I mean, it was just gibberish. I don't even know if he
• 13:30
  understands the system. It seems like he's just being
• 13:32
  told and I I hate to say that but it's true.
• 13:35
  I'm just getting my honest opinion by watching the words
• 13:37
  that were barely coming out of his mouth scrambled.
• 13:41
  It's obvious. Well, it's not obvious.
• 13:43
  It's that he really it's worrisome to me.
• 13:46
  So what they're going to mess up though, is not whether or not
• 13:49
  the dollars are going to be in the bank.
• 13:51
  What they're going to mess up is by providing too much liquidity,
• 13:54
  because they're in some kind of bubble that that says that
• 13:57
  printing, money isn't inflation, and that inflation is our fault.
• 14:00
  We're too successful. The economy is too hot.
• 14:03
  We need the punished. You people it's not us.
• 14:05
  It can't be us with our printer guns and that Meme of Jerome
• 14:08
  Powell rolling off the hundreds. It can't be Us.
• 14:10
  Increasing the currency Supply. Your to successful, we got to
• 14:12
  punish you. We got to increase the price of
• 14:14
  money. We got to do all these things
• 14:17
  and none of it is going to work because they really I don't know
• 14:20
  if it's malicious intent or if it's just incompetence but it
• 14:23
  doesn't really matter which one it is because the reality is the
• 14:26
  reality, and this is what happens.
• 14:28
  And the only thing that we can do to preserve our time and
• 14:32
  energy through time and space. Bitcoin.
• 14:34
  This is the only asset in the world that was specifically
• 14:37
  designed to protect our time and energy.
• 14:40
  There exists. No other Financial tool
• 14:42
  derivative product at all in the entire world that was
• 14:46
  specifically designed to protect time and energy the way Bitcoin
• 14:50
  was designed with its difficulties adjustments and
• 14:53
  it's happening to protect your time and energy through time and
• 14:56
  space. By the way, not just through
• 14:58
  hyperinflation, but long after all these Fiat shit coins are
• 15:02
  long gone. Absolutely loved it and she J.
• 15:05
  Do not hold back. Just go to go whatever you want.
• 15:09
  Will guide the conversation to to hit some of the points but
• 15:13
  you hit on a few things and I'm still working my way into the
• 15:17
  main question, but you hit on it anyways.
• 15:20
  What do you think would be more signaled, that the average
• 15:24
  person is losing trust in the Legacy institutions?
• 15:27
  Because I think we did see the Bitcoin price react to, you
• 15:31
  know, to some sense that people are realizing like.
• 15:33
  Oh my God, I need to get my money out of the system.
• 15:35
  But again, you know what's what's the cliche saying?
• 15:38
  Causation is not correlation. So what would be the things that
• 15:43
  you're looking at? Right now?
• 15:44
  That would further be more data points at people are waking up
• 15:48
  to this exact thing happening in the system and they losing
• 15:51
  trust. Yeah.
• 15:53
  And I think specifically the answer is the inflation rate.
• 15:56
  So we're not seeing it now because it's always going to be
• 15:59
  hindsight. That's kind of what makes having
• 16:02
  somebody who understands the system.
• 16:03
  Mm and makes projections being so important, right?
• 16:06
  Obviously, some of these Risk Managers didn't make the right
• 16:09
  projections and bad things happened.
• 16:11
  Well, projections are important but projections are made off of
• 16:14
  educated guesses, they're not made, Nobody Knows the future.
• 16:17
  If you pretend to know the future, I mean that's just a
• 16:19
  joke, nobody knows what's going to happen but what we do know is
• 16:22
  happening is that they are the Federal Reserve is in a position
• 16:25
  now where most likely they're going to pause and then soon
• 16:29
  after that they're going to cut rates.
• 16:31
  I mean and even if they don't want to the Dollar market or the
• 16:35
  the price of money for offshore Banks, that's because member
• 16:39
  offshore Banks can create dollars to.
• 16:41
  So it's not just us Banks, and the government deficit spending
• 16:44
  that creates new dollars, foreign Banks can create
• 16:48
  dollar-denominated loans and create dollars increase the
• 16:50
  supply of dollars. So, that euro dollar market
• 16:53
  detaching from the domestic Market from the, our traditional
• 16:57
  yield curve. I mean, the market is calling
• 17:00
  the bluff of the Federal Reserve and what they're going to have
• 17:02
  to do is they're going to have to provide Quiddity which causes
• 17:04
  inflation and they're going to have to pause and then
• 17:07
  eventually lower rates and if they don't want to lower rates,
• 17:10
  I went through that the last episode.
• 17:11
  So I won't go through this again.
• 17:12
  But it doesn't work right because the only two ways that
• 17:15
  commit to create dollars is the gov by deficit spending them or
• 17:19
  the banks by extending credit. Well if the gov has to deficit
• 17:22
  spend at a higher rate creates more currency units if the banks
• 17:25
  are incentivized to lend with less risk and more reward than
• 17:29
  that, then they extend credit. That's why credits at all-time
• 17:32
  highs right now. So The incentives that are built
• 17:35
  into our economy are actually working to create more
• 17:38
  inflation, not less. And, and we are going to get a
• 17:42
  second. We've only had the first wave of
• 17:44
  inflation. People are like, whoa who?
• 17:46
  Thank God. We're done through that.
• 17:47
  I trust the federal government. We're good to go.
• 17:49
  Nothing to worry about. No that's like Bitcoin taking
• 17:53
  its first. Rip up after the 2020.
• 17:54
  Having up to 40,000 came all the way back down and then people
• 17:58
  like that sits over the only going the 40,000, we only want
• 18:01
  we only want, 100 percent above the last.
• 18:03
  Pete, guys? What a lame bull market?
• 18:06
  No, it's just the first wave guys, buckle up, because, and
• 18:10
  get your Bitcoin, because it's the only way to hold through
• 18:13
  this. And Opti pre-show, you were
• 18:15
  telling about my Weimar Republic.
• 18:18
  Yeah, yeah, yeah, yeah. I can pull it out for you.
• 18:20
  But yeah, go go into that. You that, that was that was the
• 18:23
  question that I was working my way to is the dollar going for.
• 18:27
  Why? Mar, or are we bitcoiners just
• 18:29
  reading into things? No, it's going.
• 18:31
  Full wine bar, and here's why. Because Rust is evaporating and
• 18:35
  you can see on that chart right there.
• 18:37
  The the price is the black line and that red line is price
• 18:41
  volatility. So look as as the as the Mark
• 18:44
  goes into hyperinflation, Things become more, volatile, not less.
• 18:49
  Okay, so this this slow steady growth, that's what store value
• 18:53
  is higher lows. That's what store value is, but
• 18:57
  demand, bursts and premiums to Natural asset value.
• 19:00
  That's where these big big Ins and volatility come in now look
• 19:05
  I do believe we're in the trust us days.
• 19:07
  Most people right now are still trusting that things are going
• 19:10
  to work out. But very soon for what for, I
• 19:12
  don't know when those the reason but there will be a reason that
• 19:16
  trust is finally lost maybe because the FED Miss handles
• 19:19
  interest rates and they still try to hike and that makes
• 19:22
  inflation even worse. I mean lowering rates would
• 19:25
  actually help because again, the government can borrow at lower
• 19:28
  rates and then the banks would start being more strict with
• 19:30
  their credit expansion. So they're just doing it.
• 19:33
  Backwards and they're pushing us forward in this chart and, and
• 19:36
  inflation is the signal. So, in the next six, months to a
• 19:40
  year, when we see inflation, go back to all-time highs and make
• 19:44
  new all-time highs, that is the signal that people are waking
• 19:48
  up. That is the ultimate
• 19:49
  confirmation that people are losing faith in the dollar and
• 19:54
  they're losing trust in the system as a store of value.
• 19:58
  That is, that is the catalyst. Honestly, if I was in a Bitcoin
• 20:03
  and I would be absolutely terrified right now, like what
• 20:05
  you said, it makes me feel a certain way even though I know
• 20:09
  that I have the solution to the problem, it's still like, holy
• 20:14
  crap. Like we are really in that that
• 20:17
  the fork in the road, where, like, we've been talking about
• 20:20
  this for years, as a big corner. And now we really are at that
• 20:24
  point where we have to ask the fundamental question and I know
• 20:27
  it's bitcoiners, we know the answer, but What is the system
• 20:31
  fundamentally broken? Yeah, the system is
• 20:36
  fundamentally mismanaged. That's the real problem.
• 20:39
  And I think, you know, I don't want to get Flack from anybody,
• 20:42
  but if you just think about this, the dollar is actually
• 20:46
  naturally deflationary, right? Because because it's only the
• 20:51
  abuse of the government who keeps expanding the currency
• 20:54
  units, beyond the growth of the, of the economy that is creating
• 20:59
  massive inflation. So, because we are the reserve
• 21:01
  asset of the world. That's a privilege.
• 21:04
  And as the rest of the world grows and demand on dollars
• 21:07
  grow, well, then we can expand the currency Supply and not
• 21:12
  experienced inflation because we're doing it at a rate at
• 21:15
  which matches growth, but we are so far beyond responsible
• 21:19
  management of the money system. At this point, the the expansion
• 21:24
  of the currency Supply far, outpaces, the growth of the
• 21:28
  economy. That's why our debt to GDP
• 21:30
  levels are through the roof. We're at the point now where
• 21:33
  We'll probably never be able to pay it back.
• 21:35
  So that's one of the reasons I'm so aggressive about this second
• 21:38
  wave of inflation and then even beyond that a third wave of
• 21:41
  inflation, and by the way, it'll be Perpetual this can be
• 21:44
  happening forever. I know after, you know, that
• 21:46
  chart of the, from the Federal Reserve education department,
• 21:50
  where it shows the purchasing power of the dollar, and it's
• 21:53
  just like a straight down, John? Yeah, I can try to find it for
• 21:56
  you. Yeah.
• 21:56
  So while you're looking for that, they have How many dollars
• 21:59
  that they have, drained all the. Awesome power.
• 22:04
  The end of its. Currency life cycle.
• 22:06
  There is no more value to extract from it.
• 22:09
  They have Bev pushed it to the extremes by pushing the value
• 22:13
  out of the dollar, but guess what?
• 22:15
  They'll keep getting away with it.
• 22:17
  Until the people finally say, that's it, I'm not trusting the
• 22:20
  dollar to protect my value. Though, start getting their
• 22:23
  paychecks on the daily basis. You're not going to get paid
• 22:26
  every Friday or every other Friday there.
• 22:28
  It is right there so you're not going to get paid every Friday.
• 22:30
  Every other Friday you're going to demand from your boss.
• 22:33
  I need to get paid today because I'm going to take That money,
• 22:35
  I'm going directly to the grocery store and people are
• 22:38
  going to start to realize. I can it's so bad now that I
• 22:42
  have to buy my stuff today because even if I just wait till
• 22:45
  tomorrow, I'm going to get much less stuff and you can see that
• 22:49
  that's happening. But it's not happening to that
• 22:51
  extreme very slowly that and and like I said earlier the
• 22:55
  temporary rise in interest rates did deliver artificial strength
• 23:00
  to the dollar, which help with this disinflationary way this
• 23:03
  little break that we've taken. Now that they can't keep pushing
• 23:06
  those rates up and they're gonna have to bring it back down.
• 23:09
  Well that pressure that price pressure is going to disappear
• 23:12
  and the dollar is going to get weaker even to even relative to
• 23:15
  other Fiat. Shit coins and prices are going
• 23:18
  to go up again. And this time they're going to
• 23:19
  go up twice as fast and with this banking crisis they could
• 23:22
  go up five times as fast because so far it's two trillion dollars
• 23:27
  but this this is still happening.
• 23:29
  This is still happening, this crisis is not over yet.
• 23:32
  We are the dust hasn't settled. This this just you have to
• 23:35
  remember in 2008 when bear Stearns was bought out.
• 23:39
  It was like, up to six months later that Lehman went my bunk.
• 23:45
  So you know, this could happen. Six months from.
• 23:47
  Now that there's a next Catalyst, these things don't
• 23:49
  happen as fast as we want them to.
• 23:51
  That's something that being in Bitcoin.
• 23:53
  Now, for going on my ninth year, man, Bitcoin teaches you
• 23:56
  patience. So for me, the next six months
• 23:58
  to a year is nothing but for some people six months of years.
• 24:00
  Like are you kidding me? Like I, you know, I'm ready to
• 24:02
  be done my Fiat, mining job next, Not six months from now
• 24:06
  not a year from now. So it's all relative I guess,
• 24:09
  but as time goes on, if it will be revealed that there is a
• 24:14
  crisis and I don't want to alarm anybody out there.
• 24:16
  I want you to understand. It's not that the banks are
• 24:19
  going to go down in your money isn't going to be there.
• 24:21
  That would actually be a good thing.
• 24:23
  I know that sounds bad, but free market capitalism, which would
• 24:27
  allow those Banks to fail, would allow the depositors to lose,
• 24:30
  but they're not going to let that happen.
• 24:31
  They're going to bail people out.
• 24:33
  And when they bow people out your He's going to be there.
• 24:36
  It's just how much are you going to be able to buy with that
• 24:38
  money? That's the real risk.
• 24:40
  And that's not just the risk for people who keep their money in a
• 24:43
  bank account, that's a risk. For people who store wealth and
• 24:47
  treasury bonds, very astute wealthy.
• 24:50
  Sophisticated investors for very long time.
• 24:52
  Have stored their wealth in treasuries.
• 24:56
  And it's, and it's hard to make an argument against it until you
• 24:59
  get into the inflationary environment.
• 25:01
  We're in now because now we have negative real yields and Cannot
• 25:05
  justify - real yields as a proper store of value.
• 25:09
  You know you put a million dollars in a bond or a note and
• 25:13
  you're going to get it in 10 years.
• 25:15
  There's no I mean come on. Does anybody think that the
• 25:18
  house that you're looking at right now on Zillow is going to
• 25:21
  be the same price, even just three years from now, five years
• 25:24
  from now, ten years from now things are getting drastically
• 25:27
  more expensive because they're increasing the currency plot
• 25:31
  Supply at a faster and faster rate and that's what that Weimar
• 25:34
  Republic chart shows. Shows as we go further and
• 25:37
  further into this process and we transition from inflation to
• 25:40
  hyperinflation, volatility is going to increase the price of
• 25:44
  Bitcoin is going to go up and down greater than it ever has
• 25:47
  before. So you need to understand what
• 25:50
  Bitcoin is, please take the time to study and learn it and
• 25:53
  understand how the store value function Works.
• 25:56
  How it was strategically designed by Satoshi in Bitcoin
• 26:00
  for even after hyperinflation, conserved by energy, the value
• 26:04
  of energy and energy, Put this is the stuff that's going to
• 26:07
  protect us through this transition of inflation to
• 26:10
  hyperinflation. And the only remaining catalyst
• 26:13
  is trust. So when trust is lost the
• 26:15
  dollar, hyper inflates, they don't even need to print more of
• 26:17
  it, it could just happen. And when, if they make one wrong
• 26:20
  move, if they manage the narrative one, wrong way that
• 26:24
  turns the people, the wrong way, that's really why they had about
• 26:27
  the things. If they did, let that happen.
• 26:28
  People like I need to get everything out.
• 26:30
  And then everything would have collapsed, the banks would have
• 26:32
  had to sell all their assets. There would have been huge
• 26:35
  Amounts of slippage within the marketplace markets would have
• 26:39
  created and tumbled as Banks tried to raise money, to give it
• 26:42
  to the depositors who wanted out because they didn't know if they
• 26:44
  were going to be secure. Not.
• 26:46
  So the Fed was forced to say, well yeah, everybody's okay,
• 26:48
  don't worry about, everything's fine and then that keeps the
• 26:51
  money where it is. So trust is the most at the most
• 26:54
  critical level that it's ever been.
• 26:57
  And it's only the loss of that trust that will move us into
• 27:00
  hyperinflation. They can print perpetually as
• 27:03
  long as people are dumb enough to continue trusting But
• 27:05
  eventually when they see that they're working harder, making a
• 27:08
  little bit more, but still buying less.
• 27:12
  Trust is lost tube, absolutely insane.
• 27:17
  And one thing you said and and this is one of the things that
• 27:19
  kind of blew my mind. This last week you said like as
• 27:23
  a Bitcoin ER we're ready for this.
• 27:24
  We're so I don't know things happen so fast in the Bitcoin
• 27:29
  space that we forget that the financial world is like, you
• 27:32
  know, turning the Titanic around at things happen in slow motion.
• 27:35
  But one of the things that really blew my mind is the idea
• 27:38
  that in 2008, when the great fun Anshel crisis happened.
• 27:42
  It was also in March, and then in 2020, when the pandemic
• 27:46
  happened, it was also in March. And here, we are in 2023 again
• 27:50
  in March. And things are blowing up.
• 27:51
  So, like, even on the financial Titanic, timescale, things are
• 27:56
  happening happening at an incredibly accelerated pace and
• 28:01
  we are really, you know, I know it's a big Corner, we have the
• 28:03
  mean like gradually then suddenly but it really does feel
• 28:06
  like we are in that. Maybe the beginning of the end
• 28:10
  that suddenly a spectral. Of all this stuff happening.
• 28:13
  But my question is and this is something that I keep thinking
• 28:16
  is, you know, like how much longer do you think they can
• 28:20
  kick, the can down the road? Is there any more room for them
• 28:23
  to Kick? The Can down the road?
• 28:24
  Because it still feels like they have it.
• 28:26
  Pulled out all the guns yet like it still feels like they're
• 28:28
  going to try to pull even more ridiculous.
• 28:31
  Stuff to kick. This can down the road, but it's
• 28:33
  like, can they? And that's the question?
• 28:35
  Can they kick? The can down the road?
• 28:38
  Yes, they can. They can kick the can down the
• 28:40
  road because We're only going to go into hyperinflation when
• 28:43
  trust is lost. So as long as they can continue
• 28:45
  to justify change definitions and lie about the reality.
• 28:50
  Right. I mean the perfect example was
• 28:52
  guys. Covid is dangerous.
• 28:54
  Billions of people are going to die.
• 28:56
  Stay in your homes. Shut down the world covid-19
• 28:59
  more dangerous than the flu. And now they're saying, you
• 29:02
  know, don't worry about inflation is transitory.
• 29:04
  Don't worry about, oh, hey, we got inflate.
• 29:06
  We know how to control this. We got the proper tools to
• 29:08
  control this, right? So you tell me, do they always
• 29:10
  tell you the truth? No, it's about management, it's
• 29:13
  about narrative, it's about controlling the hive mind of the
• 29:17
  people who go to work and don't really have time to research
• 29:21
  this stuff, or don't want to, for whatever reason.
• 29:24
  I mean, life gets busy. I have three kids.
• 29:26
  I know what it's like. I got soccer, practice Monday
• 29:28
  and Wednesday. Me things add up, who can put in
• 29:30
  the time and energy this. Especially if you haven't been
• 29:32
  made financially free yet. That's why I think bitcoiners
• 29:36
  are on the Leading Edge of understanding what's happening
• 29:39
  right now because if you've been in Bitcoin for a having, Cycle
• 29:41
  or two, then you are financially free and that's giving you the
• 29:45
  time and energy to invest, more time to understand what Bitcoin
• 29:49
  is and the benefits of Bitcoin for not only yourself but for
• 29:53
  the world and for the financial system.
• 29:56
  So yeah, they can keep kicking this down until eventually
• 29:58
  people are so just controlled and I mean they say that
• 30:03
  slavery, right? So, until people are to the
• 30:05
  point where it crosses their Line in the Sand, they can keep
• 30:08
  doing it. And that's, you know, to me,
• 30:10
  that's a little bit scary. But at the same time, I'm I
• 30:14
  would like to continue accumulating Bitcoin so I'm
• 30:17
  okay, I'm actually okay with it because it's an Escape and the
• 30:21
  more people that can get into Bitcoin now and understand these
• 30:24
  things that's the real soft Landing, right?
• 30:27
  Everybody's all like the banking crisis that everything's burning
• 30:31
  but world is ending. Actually.
• 30:32
  No, we're transitioning to a Bitcoin standard.
• 30:36
  We're transitioning to a more peaceful world.
• 30:38
  We're transitioning to truth money.
• 30:40
  We're transitioning. Thing to wear your time and
• 30:42
  energy cannot be extracted from you from the powers that be,
• 30:46
  this is going to be so much better than what we have now.
• 30:49
  But you know what? For the time that we do have
• 30:51
  remaining, we got to educate people.
• 30:54
  We got to get people to get into Bitcoin to store that time and
• 30:57
  energy. So that when it is the reserve
• 31:00
  asset of the internet economy, people can understand it.
• 31:02
  People can use it and then more advanced user users can
• 31:06
  collateralize, it facilitate marketplaces and, and fill in
• 31:09
  the gaps of all the financial System right now and what I love
• 31:13
  about Bitcoin in the internet economy is that the financial
• 31:15
  services and system that are going to be built up around
• 31:18
  Bitcoin. As the reserve asset of the
• 31:21
  internet economy are going to be designed to deliver value to
• 31:25
  their customers banks are designed to extract value from
• 31:28
  their customers. There's not one thing, the bank
• 31:31
  does with a depositors money that delivers value to the
• 31:36
  customer. Everything, they do extract
• 31:38
  value from the customer. I mean, it's unbelievable.
• 31:40
  When you You look at all these products and services, every
• 31:44
  single one of them is designed to extract value and not through
• 31:48
  fees, not through. Like oh, we're going to do this
• 31:49
  for you to help you to empower you and then you pay us a small
• 31:53
  fee to perform those Services. No.
• 31:55
  Most of the time, the fees is just negligible because they're
• 31:57
  earning interest on you or there's some other kind of
• 32:00
  scheme to where they're using your money to Arbitrage a
• 32:03
  market. So the risk is on you but the
• 32:04
  reward is on them. That doesn't work in Bitcoin.
• 32:08
  Look at FTX Sam. Tried that right?
• 32:10
  Yeah. You want some Bitcoins?
• 32:11
  Problem. I'll write you up some paper
• 32:13
  Bitcoin, iou's. Well, then people wanted their
• 32:15
  Bitcoins and Bitcoin said, sorry, Sam, you can't borrow
• 32:19
  money from anybody. You can't print me.
• 32:21
  There's nothing you can do bud. You should have sold paper
• 32:23
  Bitcoins. It don't work in this world and
• 32:26
  guess what? Sam's gone failed.
• 32:28
  That's what should happen to all these other things.
• 32:31
  Failed gone mismanaged. I mean, these people are
• 32:34
  supposed to be Silicon Valley Tech Giant's.
• 32:38
  The most, sophisticated investors in the world and
• 32:41
  You're putting your money out of a bank that didn't even Hedges
• 32:43
  interest rate risk. And now, the American people
• 32:46
  have to be diluted to the tune of possibly two trillion dollars
• 32:50
  and probably even more just so that you don't lose your
• 32:53
  deposits. So the dominoes are getting
• 32:55
  bigger and bigger. When I first started the
• 32:57
  Domino's we're very small, but they were still falling.
• 33:01
  Now these dominoes that are falling are bigger and bigger
• 33:04
  and the bigger the Domino is, the more tension it's going to
• 33:07
  draw and the more attention it draws, the more risk there is of
• 33:11
  Losing trust in the system. So I predict over the next six
• 33:14
  months to a year, they'll be doing everything they can to
• 33:17
  convince people, they're in control.
• 33:19
  You don't have to worry about anything.
• 33:21
  The banking system is safe, nothing is gonna go wrong.
• 33:24
  If something does go wrong, don't worry about it, we'll take
• 33:26
  care of it. And what people need to realize
• 33:29
  is that the way they're taking care of it is, they're not
• 33:32
  paying for it. We are because inflation is
• 33:35
  taxation without representation and inflation is the largest tax
• 33:39
  out of all taxes on the American people.
• 33:41
  So we need to wake up and let our neighbors family and
• 33:44
  friends. If you're like me maybe you
• 33:46
  don't get invited to Thanksgiving anymore.
• 33:48
  But if you still are invited to Thanksgiving, well then you know
• 33:51
  let them know because it's happening in front of
• 33:53
  everybody's eyes and the world is in denial.
• 33:57
  Man, CJ, absolutely love it. Absolutely love it pure signal
• 34:01
  and actually I'm I do want to kind of transition this into
• 34:05
  into more of a Bitcoin talk but there's a good common in here
• 34:09
  that I think is it's something that we talk about all the time
• 34:12
  here and I'm going to pose you the question, but you can also
• 34:15
  kind of go into the comment in the chat and the question that
• 34:17
  kind of brought got brought to my mind during why.
• 34:20
  When you were just talking in your opinion, do you think the
• 34:23
  transition to bitcoin standard? Will it be a peaceful
• 34:26
  transition? Or as you kind of said the soft
• 34:28
  Landing or are we in for, you know, for lack of better terms
• 34:33
  like, oh Rocky decade of a slow transition or maybe even a fast
• 34:37
  transition. But I really like this comment
• 34:39
  right here by Higher by higher calling and says seriously
• 34:42
  though I think this is controlled demolition to roll
• 34:44
  out a CBC and we saw this week the FED now a noun or the
• 34:48
  Federal Reserve announced they're fed and housed payment
• 34:51
  services. So what's your thoughts on this?
• 34:53
  Is this going to be a peaceful transition?
• 34:55
  Or is this controlled? Mission into a CBC system
• 34:59
  because they've completely lost control.
• 35:01
  Yeah. So I mean, this is something
• 35:04
  that I've been thinking about and praying about for wisdom and
• 35:07
  discernment. This is probably one of the most
• 35:09
  important questions that can being asked in the entire world
• 35:11
  right now. And the answer to that question
• 35:14
  is, how do you get FDIC to go from 250,000 to unlimited right
• 35:20
  before 250,000, it was 100,000 a little bit less, a little bit
• 35:24
  less, a little bit less, it slowly grew over the years, but
• 35:26
  we just From 250,000 to unlimited.
• 35:32
  So why would they do that? Why would every single banking
• 35:36
  deposit need to be bailed out? I do believe is very plausible
• 35:42
  that this is laying the groundwork to shift all of the
• 35:47
  deposit liabilities, right? It's critical to understand that
• 35:51
  your deposit at a bank is a liability to then, right?
• 35:54
  It's your asset but it's their Ability.
• 35:57
  And then they take it and they buy an asset to match that
• 36:00
  liability fractionally. So that's reserved, right?
• 36:04
  And then with the rest of it, they go do whatever the hell
• 36:06
  they want to make money and not share any of it with you.
• 36:09
  But people need to realize, why did we just pass a rule?
• 36:13
  That would allow the liabilities of a bank to be passed to the
• 36:19
  FDIC, and then is it so much of a guess or is it so crazy to
• 36:24
  say? Well if we can pass that bank
• 36:26
  liabilities, To the FDIC we can now pass that bank liability to
• 36:31
  the Federal Reserve, right? And now the mail all Bank
• 36:35
  deposits, which are liabilities of these other banks that need
• 36:38
  to be covered with assets. And sometimes there's liquidity,
• 36:40
  mismatch has, and there's all these problems with making the
• 36:44
  bank deposit, a liability on these investment and Commercial
• 36:47
  Banks. So, let's make people's deposit.
• 36:50
  A liability at the FED because the FED has an unlimited balance
• 36:54
  sheet. There is no liability that
• 36:56
  cannot be Added to the balance sheet.
• 36:58
  I mean just look at their balance sheet right now.
• 37:00
  They can just print money and it doesn't matter.
• 37:03
  It literally doesn't matter. So I think this funding program,
• 37:09
  it's not necessarily about providing the mismatched
• 37:13
  liquidity behind the fractional reserves of the posits because
• 37:18
  there's bigger problems there from what we said before Banks
• 37:21
  would actually because it is only fractionally Reserve with
• 37:23
  cash equivalents they'd have to sell other real assets.
• 37:27
  Which would affect the broader Marketplace as they started to
• 37:30
  sell, so it's not really about gapping.
• 37:34
  The the fill that mismatch, what it's really about is allowing
• 37:39
  those liabilities to be transferred from these
• 37:41
  commercial and investment Banks, which shouldn't be allowed to
• 37:44
  happen. Anyways, go back to the
• 37:46
  glass-steagall ACT where you investment Banks and Commercial
• 37:49
  banks are two different things and and the definition of a
• 37:52
  depository institution would be more accurate and depositors
• 37:54
  would be more safe but they don't care.
• 37:56
  That's long gone. What comes next as we shift over
• 37:58
  to the FED, once you're at the FED, that is the Central Bank.
• 38:01
  Digital currency, they have unlimited assets, they have a
• 38:04
  money printer, so there is no liability.
• 38:06
  That puts their balance sheet at risk.
• 38:08
  Whoever asked that question I think is, is thinking about this
• 38:12
  and what do they say? You're playing 4D chess, right?
• 38:14
  A couple people are playing checkers and they're talking
• 38:16
  about a banking crisis and oh my gosh, the whole thing could melt
• 38:20
  down. A few people are playing chess
• 38:22
  and saying, well don't worry about the money being they're
• 38:26
  just worried about how much it's Bye.
• 38:27
  But some people are doing what you just did in playing 4D chess
• 38:30
  and saying, what comes after this and a central bank, digital
• 38:34
  currency issued by the Federal Reserve with all investment and
• 38:37
  Commercial Banking, liabilities being shifted over the federal.
• 38:41
  Reserve's balance sheet, makes sense to me, maybe they don't
• 38:45
  have to print the money. That's the LIE, right?
• 38:47
  We didn't print it. We just transferred the
• 38:48
  liabilities from JP Morgan Bank of America and Citibank and all
• 38:53
  these Bank owns all these systemically important Banks
• 38:56
  which is It transferred, the liability from one balance sheet
• 38:59
  to another. We didn't create any money.
• 39:02
  Well yeah, they did. Because now all of those assets
• 39:05
  that have to back that have to be printed by the Federal
• 39:07
  Reserve, but they're not going to print it in Fiat, they're not
• 39:10
  going to just type it in the computer and Fiat.
• 39:12
  They're going to provide it through Central Bank, digital
• 39:14
  currency. I it's super hard to argue
• 39:17
  against that. And they just recently announced
• 39:20
  that the FED now service which could very well be the
• 39:23
  implementation of the Central Bank, digital currency, because
• 39:25
  remember Central Bank digital You got some decentralized
• 39:28
  blockchain. It's a it's a piece of software
• 39:32
  that the bank's going to use that they control fooling.
• 39:34
  Nobody runs a node. They are the node.
• 39:36
  What they say goes. So it's an internal software
• 39:40
  that's going to be used to manage the Central Bank.
• 39:42
  Digital currency for inter Bank transfers, but also from the FED
• 39:46
  to the direct deposit liability, which would be us and that's
• 39:50
  where you start to talk about social credit scores and all the
• 39:53
  other things we talked about in our previous interview.
• 39:55
  Great question. Yeah, agreed.
• 39:57
  Agreed. All right, again, I do want to
• 40:00
  angle this back into Bitcoin because there's some things that
• 40:02
  we want to hit at the end of the conversation, but I did call
• 40:05
  this show, this episode world war three is financial.
• 40:08
  And I have your Tweet here and very, very plainly.
• 40:12
  You said, World War 3 is an economic War being fought in the
• 40:14
  financial markets. Maybe lay lay out.
• 40:18
  Exactly. I mean, you just laid it all out
• 40:21
  in my opinion, but for the people that still haven't
• 40:23
  connected the dots. What did you mean by this tweet?
• 40:26
  Yeah. So what's really interesting
• 40:29
  about Credit Suisse having a lot of stress because we've been
• 40:32
  talking about them for a while but you'll realize the other
• 40:35
  day, the Minister of Finance for Saudi Arabia who is supposed to
• 40:39
  be a NATO Ally, right. It was our original deal with
• 40:43
  Saudi Arabia, that created the Petro dollar.
• 40:45
  They're supposed to be like our biggest advocates in our, in our
• 40:49
  biggest Partners. Well, they came out and said
• 40:54
  we're not going to send any more money to credit sweeps.
• 40:57
  And what this does it creates stress on the entire system
• 40:59
  because the real war is being fought in the financial markets.
• 41:03
  The real war is seeing who has to print the most money because
• 41:08
  if that's what it is, it's a race to zero think about it.
• 41:11
  If you were the government and you had a printer and you had
• 41:13
  the ability to print unlimited amounts of money, to do whatever
• 41:16
  you want to do with according to your budget.
• 41:19
  Well, then the goal would be to print as much as you can without
• 41:22
  losing the Trust In order to extract as much value as you can
• 41:25
  for, as long as you can. Well when Saudi Arabia comes out
• 41:30
  and says they're not going to backstop and forces, the switch
• 41:32
  National Bank to do that when China comes out and start
• 41:36
  selling treasury bills when all these things start happening,
• 41:39
  it's about financial Warfare. It's about making the United
• 41:42
  States have to devalue their currency because we're in a race
• 41:46
  to zero and the government's aren't stupid.
• 41:48
  You don't want to finish this race first.
• 41:51
  It's like golf. You want the lowest score?
• 41:53
  You want to finish this race last because the last one
• 41:56
  standing Standing is going to benefit the most last one
• 41:59
  standing is going to extract the most value from the system.
• 42:03
  So the games that are being played on a really high level
• 42:07
  and honestly there, I can't go into details because I'm not in
• 42:10
  that Circle. So I can, I can, I can see it
• 42:13
  happening, but I can't go into details, but everybody can see
• 42:16
  it happening. I'm sure you're saying in your
• 42:17
  head right now. Yeah, shits going down because
• 42:19
  it is going down and people are making big moves and Saudi
• 42:22
  Arabia. A lot of these NATO Nations that
• 42:25
  are friends of NATO right now. I think personally, they want to
• 42:29
  be brics Nations but they can't come out and say that, I mean,
• 42:31
  that they just can't say that. But in the background, they're
• 42:35
  already setting up for this. So Saudi Arabia, trading oil for
• 42:40
  digital you on with China and then breaking into that market
• 42:43
  with Iran. All of these things are slowly
• 42:46
  happening. And like you said off the
• 42:48
  Bitcoin is like dog years, right?
• 42:50
  One year in Bitcoin is like seven years in traditional
• 42:52
  Finance. So In traditional Finance, when
• 42:54
  you see things happening at this speed, it's time to pay
• 42:57
  attention. Oh my goodness.
• 43:01
  All right, guys, it's looking like, my internet might be
• 43:04
  acting weird to. Hopefully, I didn't fall off.
• 43:06
  But anyways, let's angle this towards the Bitcoin
• 43:09
  conversation. See ya earlier, you said you
• 43:14
  would like to touch and the having and last time you are on
• 43:24
  and you are in the stitches with us, you got a lot of flak for
• 43:28
  your idea. The production theory of mining.
• 43:31
  So I have the quote here that you that you taxed.
• 43:41
  Awesome. Yeah, so a lot of people
• 43:43
  actually reached out and DND. I love the simply Bitcoin TV
• 43:46
  Community, you guys are awesome. I'll answer as many DM's as I
• 43:49
  can and help out as much as I can.
• 43:51
  You guys are super active. It's great.
• 43:53
  Well, you guys came to me and you said, hey, where can I learn
• 43:56
  about this? Where did you hear this?
• 43:58
  Where can I learn more about this?
• 43:59
  And a lot of people were super surprised when I told them this
• 44:03
  is an a, this was Satoshi. So, you know, don't, you know,
• 44:06
  don't give me Flack for this because I'm just carrying the
• 44:10
  torch forward. I'm doing what I can to promote
• 44:13
  what Satoshi taught us. And if you read this quote, this
• 44:17
  is the definition of store of value.
• 44:20
  Write the definition of store value, the price of any
• 44:23
  commodity tends to gravitate towards the production cost,
• 44:26
  okay? That's a really important
• 44:28
  concept guys. That means the price of Bitcoin
• 44:32
  is going to gravitate towards its production cost, okay?
• 44:36
  If the price is below cost then production slows down, It works
• 44:41
  that way with gold to write if gold goes below, it's all in
• 44:43
  sustaining cost. Well, then the miners go out of
• 44:46
  business. When the miners go out of
• 44:47
  business, the supply stops hitting the market.
• 44:50
  When the supply stops hitting the market, against the
• 44:52
  consistent, demand, the price goes up.
• 44:55
  And when the price goes back up above the cost of production,
• 44:57
  miners, come back in the business because they can
• 44:59
  properly produce. And then the supply goes up and
• 45:02
  the price comes back down. This is a commodity cycle, and
• 45:06
  this is how commodity Cycles work.
• 45:08
  So if the price is above cost profit can be made by generating
• 45:12
  and selling more. At the same time, the increased
• 45:16
  production would increase. The difficulty here, is where
• 45:19
  satoshi's genius comes into play, where he strategically,
• 45:22
  designs Bitcoin with the difficulty adjustment.
• 45:26
  Why? Because when you increase the
• 45:28
  difficulty, it pushes the cost of generating or the cost of
• 45:31
  production towards the price. So as the price goes up, just
• 45:36
  like the price of gold goes up above.
• 45:37
  It's all in sustaining costs and more and more producers calm
• 45:40
  because They can make a profit and then the supply goes up.
• 45:43
  Well guess what? Bitcoin is not supply adjusted
• 45:46
  Bitcoin Supply can't hit the market faster because more
• 45:49
  people are producing it. When more people pull gold out
• 45:52
  of the ground, the supply of gold increases at a faster Pace,
• 45:56
  the supply of Bitcoin cannot increase at a faster Pace.
• 46:00
  It is set and there's no way around it and the more and more
• 46:03
  people who want to produce Bitcoin or earned I should say
• 46:06
  the more people who want to earn the Bitcoin subsidy they Are
• 46:10
  causing more and more hash rate and as hash rate goes up, block,
• 46:14
  time goes down as block. Time goes down difficulty, goes
• 46:17
  up. So every 2016 blocks roughly,
• 46:20
  every two weeks, the cost of production is going up and it's
• 46:24
  being pushed towards the price. So when the price is above the
• 46:28
  cost of production, the cost of Russian goes up.
• 46:30
  This is the store of value function.
• 46:32
  This is what I was saying opting that tweet that you said you
• 46:34
  liked with that guy, that guy robbing Brooks and he got
• 46:37
  grilled by the Bitcoin Community.
• 46:38
  I love the Bitcoin Community. This guy came out, Most stupid
• 46:41
  Bitcoin tweet about had zero store value.
• 46:44
  But because any sure to chart of it going from 70 down to 15, you
• 46:48
  don't store value at the Peaks, you store value at the bottoms.
• 46:54
  So see the store of value mechanism that's designed into
• 46:57
  Bitcoin with the difficulty adjustments and with the having
• 47:00
  it's designed to create. Yeah, it's designed to create
• 47:05
  higher lows, right? The definition of store value is
• 47:08
  higher lows and And Satoshi knew that and we know that he knew
• 47:13
  that because of the quote that we just showed you.
• 47:14
  So he strategically designed these things to store value long
• 47:19
  after fiat currency is gone because after fiat currency is
• 47:22
  gone. Now we're talking about Bitcoin
• 47:24
  energy value, right? Its energy value, that is going
• 47:28
  to determine what the fair value of Bitcoin is and the amount of
• 47:32
  work that you do will be relative to your energy.
• 47:34
  So the Baseline will be energy, not a price of money.
• 47:39
  That is By a group of men for the whole world.
• 47:43
  I mean, that's just Insanity, that's not free market.
• 47:46
  It's insane to think that they can't tell us the price of eggs,
• 47:48
  chicken and milk. But hey, you can tell us the
• 47:50
  price of money. No.
• 47:51
  Satoshi didn't believe that either.
• 47:53
  And you can tell by his design that is specifically designed to
• 47:58
  use the economics that surround how producers work to drive
• 48:03
  value into Bitcoin because yeah, and you know what?
• 48:05
  Ultimately, fair value can go down a little bit, it goes up
• 48:09
  and down, right? There's - D adjustments to, but
• 48:12
  there is a natural free market price, Discovery mechanism that
• 48:15
  is built into Bitcoin and that is unbelievable because there is
• 48:19
  no other asset in the world that is like that.
• 48:22
  Especially because the inflation rate of Bitcoin is fixed,
• 48:25
  there's only 21 million Supply and we have the inflation
• 48:28
  schedule so it doesn't matter how many people want to produce
• 48:31
  Bitcoin. You can't make more of it so
• 48:35
  because that's because that's a fact.
• 48:37
  He then puts in the difficulty adjustment, along with the
• 48:39
  having, right? Difficulty adjustment increases,
• 48:42
  the cost of production slowly, every two weeks.
• 48:45
  If you get a positive adjustment and - adjustment will decrease
• 48:48
  that cost production. But on that net basis, the
• 48:50
  Bitcoin network is growing faster, probably than any
• 48:53
  network. You someone's got a fact, check
• 48:56
  me on this, but I don't think there's any other network in the
• 48:58
  history of humanity that has grown as fast as the Bitcoin
• 49:00
  Network. So it's growing at an enormous
• 49:03
  clip even through a China. Mining band.
• 49:06
  We're at all. Where over 300 x a hashes.
• 49:08
  It's blowing up. You got this.
• 49:10
  Sophomore thesis out there from Jason Lowry.
• 49:13
  If he is true about that and countries start buying hash rate
• 49:17
  to produce Bitcoin, the all in sustaining cost of bitcoin is
• 49:20
  going to go through the roof, which means the floor price, the
• 49:22
  natural asset value of Bitcoin is going to continue to
• 49:26
  increase. And when it starts to decrease,
• 49:28
  this is when it becomes interesting.
• 49:30
  This is what makes Bitcoin sustainable because the store of
• 49:32
  value is not just about driving value into Bitcoin.
• 49:36
  It's also about sustainability because when the cost of
• 49:39
  production goes Down as a result of a - difficulty adjustment
• 49:44
  miners become more profitable. So when that difficulty
• 49:47
  adjusting that goes down, it's actually attracting more minors
• 49:51
  to come participate because they can make more money, you know,
• 49:54
  if the price if the price of gold went down it wouldn't
• 49:56
  really do anything. So Bitcoin is alive, it is
• 50:00
  actually like a living. Price Discovery mechanism on
• 50:04
  energy. That's why I call it
• 50:05
  commoditized energy in the form of money because it is a it is a
• 50:09
  real live resource, that properly designs that was
• 50:14
  properly designed to store your time and energy through space
• 50:17
  and time and there's nothing else that can even try to
• 50:21
  compete with it to think that you can even compete with it.
• 50:24
  Your own crazy pills, or something nothing can compete
• 50:27
  with Bitcoin, and it's all about the store value design.
• 50:30
  That creates higher. Lows as not, not based on price
• 50:35
  action. But based on the actual
• 50:37
  production of Bitcoin, the network growth of Bitcoin, they
• 50:40
  all in sustaining costs of Bitcoin, the cost of production
• 50:44
  of Bitcoin, the natural asset value.
• 50:46
  I hate when people say Bitcoin has no intrinsic value bullshit.
• 50:51
  Bitcoin has no try to create a Bitcoin for me, go ahead and win
• 50:54
  a Bitcoin, just spend no money. And when a Bitcoin you can do
• 50:57
  that with dollars, they just create a two trillion dollars by
• 51:00
  overnight. They just At no cost whatsoever.
• 51:04
  No proof of work whatsoever, but you try to do a Bitcoin, you
• 51:07
  can't, you got to spend money, you need proof of work.
• 51:09
  You need to understand what you're doing.
• 51:11
  As you get involved, you drive up the difficulty because you're
• 51:14
  increasing, the hash rate that drives up the cost of production
• 51:17
  that drives up the natural asset value Soto.
• 51:20
  She understood this, and I'm just trying to carry that flame
• 51:24
  forward because as a minor, that's my favorite quote from
• 51:27
  Satoshi. You know?
• 51:28
  A lot of people coach tells you like, well, if you don't know, I
• 51:30
  don't got time to tell you that's a good one too.
• 51:32
  Too. But you know, the reason I'm
• 51:33
  spending time is because I do have time to tell you this, but
• 51:36
  this quote is the definition of store of value and a bitcoiners
• 51:39
  can understand this. They will have the conviction to
• 51:43
  hold through the hyperinflation of the dollar because as the
• 51:47
  volatility goes up and your Bitcoin goes to a million and
• 51:50
  then back down to 100,000 and then the two million and then
• 51:52
  back down the 200,000, most people are going to go insane.
• 51:56
  I mean, if it takes, it takes like deep breaths and some
• 51:59
  meditation to lose so much. Net worth over the course of
• 52:03
  just one year, but when you know where this is going, it's not a
• 52:07
  problem. When you know where this is
• 52:09
  going, you have conviction, you have understanding, you have
• 52:12
  wisdom, you have discernment, and you can kind of just laugh
• 52:15
  at everybody else as they're panicking playing checkers and
• 52:18
  chess. While we're trying to figure out
• 52:20
  three and four moves down the line.
• 52:23
  Absolutely. Love it.
• 52:23
  Could you could you read the, the quote, for the audio
• 52:26
  listeners? Yeah, the price of any commodity
• 52:30
  tends to gravitate toward the production cost, if the price is
• 52:33
  below cost then production slows down.
• 52:36
  If the price is above cost profit can be made by generating
• 52:40
  and selling more. At the same time, the increased
• 52:43
  production would increase, the difficulty, pushing the cost of
• 52:48
  generating, the cost of production towards the price.
• 52:53
  Satoshi Nakamoto. There it is right there, guys.
• 52:56
  He is telling you what store of value is he is telling you how
• 52:59
  he designed this algorithm to properly store value, not just
• 53:04
  through Fiat hyperinflation. But long after all the Fiat shit
• 53:07
  coins are gone too because it's based on producer economics and
• 53:12
  and Bitcoin energy value. Absolutely love it.
• 53:15
  I think at this point you some horns for sure but I mean, my
• 53:21
  first thought, Is just the comment.
• 53:24
  I'll just man. Like, if you are not bullish on
• 53:26
  bitcoin, after what you just heard, I really don't know, like
• 53:31
  what, what more we need to say, and I don't want to cut you off
• 53:35
  and go into another Avenue, but if you stir some things you want
• 53:39
  to add on it because I did bring up in the beginning of the.
• 53:42
  Before we recorded that last time you were on the show, you
• 53:46
  said something prescient as well, but I don't want to fully
• 53:49
  transition into another topic because I know it's going to be
• 53:52
  an epic rant. Is there anything left on this
• 53:54
  topic right here before I ask you the next question?
• 53:57
  Yes. Yes, I do want to say this,
• 54:00
  there's a reason that gold won't go to 0 and gold won't go to 0
• 54:05
  because there's a base layer of demand and that base layer of
• 54:09
  demand actually serves as like The Core Business principle of
• 54:15
  how the producer Economics work, right?
• 54:18
  So if the price of gold starts to go to low, producers aren't
• 54:22
  going to create it. And as the supply drops on that
• 54:25
  consistent base layer of demand, then the price starts to go back
• 54:29
  up until producers are profitable and they re-enter the
• 54:31
  marketplace. That is why gold has worked for
• 54:35
  thousands and thousands of years.
• 54:37
  Okay, Bitcoin works better. So don't let anybody tell you
• 54:41
  that Bitcoin is going to go to zero.
• 54:42
  You see a lot of people out there, some of them even
• 54:46
  perceived as sophisticated who say Bitcoin is going to go to
• 54:49
  zero based on what that's not based on any reality, the
• 54:53
  producer economics that support Bitcoin production are what?
• 54:59
  Secured value and the intrinsic value of Bitcoin is real because
• 55:03
  it's based on proof of work and energy input.
• 55:05
  So don't let anybody tell you that that's the most important.
• 55:08
  Oh, she is telling you, don't let anybody tell you.
• 55:10
  It's going to go to zero and don't let anybody tell you that
• 55:12
  it's worthless. There is real value in this
• 55:15
  network and it's And just the supply-demand variables.
• 55:18
  Sure, supply-demand plays, a big role.
• 55:21
  That demand is what pushes the premiums to Natural asset value.
• 55:25
  But when the demand disappears and you get into a bear Market,
• 55:28
  you come back down to fundamental value, right?
• 55:31
  So it's okay not saying that the that's the last thing.
• 55:34
  I'll say, I'm not saying that the natural asset value.
• 55:37
  The cost of production has to be the price of Bitcoin.
• 55:40
  Absolutely not what's important about that price is that it's
• 55:44
  the free market price. Is based more on the
• 55:47
  supply-demand equilibrium relative to its cost of
• 55:51
  production, right? That's what a minor needs to
• 55:54
  know. They need to know.
• 55:55
  What is this costing me to produce and a my trading at a
• 55:57
  discount or my trading at a premium because if it's a
• 55:59
  discount turn off your machines and in stay in pain instead of
• 56:02
  paying more for electricity. Just take that money that you
• 56:05
  would have paid for electricity straight to the marketplace and
• 56:07
  buy it from there. You're going to get more
• 56:09
  Bitcoin. So this is like the core thing
• 56:12
  that backs Bitcoin is producer economics and the story.
• 56:16
  Value is strategically designed into it.
• 56:18
  Don't let anybody else tell you. Otherwise love it.
• 56:21
  Absolutely love it. So I do try to keep these around
• 56:24
  an hour but we might run a little longer because I as I
• 56:27
  told you before the show when you came on simply Bitcoin live
• 56:33
  what was that a week? And a half ago, two weeks ago,
• 56:36
  you said another pression thing and it was in regards to stable
• 56:39
  coins and then we saw what happened the beginning of this
• 56:43
  week and I think it might do Us a disservice.
• 56:47
  If we didn't touch on that, by the time, this episode ended,
• 56:49
  considering that we are pretty much in the midst of exactly
• 56:53
  what you were talking about. Yeah, so, it was, it was really
• 56:59
  wild to see. I didn't think it would come to
• 57:00
  fruition as fast but it's the business model, right?
• 57:04
  But the problem with stable coins is that the business
• 57:07
  model. Yeah, thank you for bringing
• 57:08
  that up. The business model of stable
• 57:11
  coins is the same business model as a bank.
• 57:13
  It's not designed to deliver value to you.
• 57:16
  It's designed to extract value from you, why?
• 57:19
  Because you give them your reserves, and then they go and
• 57:22
  they buy cash equivalents the short-term yielding bills.
• 57:26
  But you don't get anything. So they get to custody your
• 57:29
  reserves and earn passive income passive, cash flow.
• 57:34
  And then you have your crypto token in the crypto economy or
• 57:37
  the internet economy, but you're being diluted, unless you take
• 57:41
  risk, right? They're not taking any risks,
• 57:43
  they're just cutting your dollars and then they're earning
• 57:45
  what form? Five percent in these short-term
• 57:47
  treasury bills that are liquid to back.
• 57:50
  So it is unbelievable that people let them get away with
• 57:55
  this. There needs to be some type of
• 57:57
  mechanism because look Bitcoins going through price Discovery,
• 58:01
  the price isn't going to be stable.
• 58:02
  The natural asset value is adjusting.
• 58:05
  The market price is adjusting the network is growing
• 58:07
  exponentially the main. We do have a base layer of
• 58:11
  demand all my Bitcoin, stackers and hollers out there we are the
• 58:15
  base layer of demand. We're Buy at any price, doesn't
• 58:17
  matter. I'm going to buy it every single
• 58:19
  day. I'm not holding my dollars and
• 58:20
  not saving in my dollars. I'm saving in Bitcoin.
• 58:22
  I don't care what the price is. I bought the coin at the top at
• 58:25
  like sixty nine thousand dollars and change.
• 58:27
  I paid the highest possible price you could and I bought it
• 58:30
  all the way down to sub-17 as well, all the way through the
• 58:35
  whole process because it doesn't matter what the price is to me
• 58:38
  right now because I know we're all these roads end.
• 58:41
  I know we're all these roads end is Bitcoins going to represent
• 58:44
  purchasing power Way Beyond the Our Parks right now.
• 58:47
  So understanding that and then looking at stable coins and
• 58:50
  saying, wow these people are actually extracting value from
• 58:54
  you. They're taking all of your
• 58:55
  dollars, custom those dollars. Keeping all the yield they make
• 58:59
  from casinos dollars and then giving you nothing it's a broken
• 59:02
  business model. What they didn't see coming was
• 59:06
  the traditional banking crisis and there and you know the
• 59:10
  argument is u.s. DC is actually better than a
• 59:14
  dollar in the bank and I'll Well used to be because you SDC would
• 59:18
  be fully Reserve with the cash equivalents so at least, you
• 59:21
  know, it was 121. Yeah, it wasn't Fiat cash but it
• 59:24
  was a cash equivalent held in a liquid short-term maturity
• 59:29
  treasury. So it's, I mean, it's about as
• 59:30
  liquid as you can get, right? And if it's not liquid, then we
• 59:33
  have bigger problems than a one-to-one backing because that
• 59:36
  means you're in hyperinflation. So you have a liquid backing at
• 59:39
  121 well up until Sunday night. The dollars in your bank account
• 59:44
  were backed by like Four cents, five cents.
• 59:47
  If you go off the average Capital ratio of a bigger Bank,
• 59:52
  you know, if you call the FDIC was backed by like 1.2 sense,
• 59:55
  but up until Sunday night, those stable coins were actually safer
• 1:00:00
  than the dollars in the bank because they are backed
• 1:00:02
  one-to-one but that didn't change the fact that there's a
• 1:00:05
  the fundamentally. The business model is corrupt
• 1:00:08
  because they're taking your savings and they earn from your
• 1:00:12
  savings while you get nothing. And if you want something you're
• 1:00:14
  forced to take, A risk in the internet economy.
• 1:00:17
  That's even worse than some of the other products that exist to
• 1:00:20
  give people. At least a little bit of
• 1:00:22
  something, a little remuneration for the dollars that they had in
• 1:00:25
  the bank. So at the point where we are
• 1:00:27
  now, the dollars are not safe in the stable coins, the dollars
• 1:00:31
  are not safe in the banks and it's not that they're going to
• 1:00:34
  disappear. They're not, it's what they're
• 1:00:36
  going to buy. The problem is what they're
• 1:00:38
  going to buy, because it doesn't matter if you SDC doesn't make
• 1:00:41
  it any more coins, it doesn't matter if there's more
• 1:00:43
  reductions. It's the Lying asset.
• 1:00:46
  That it represents, right? U.s.
• 1:00:48
  DC is a derivative of the dollar that means it's value.
• 1:00:51
  Is derived from the dollar bad news, the dollar doesn't have
• 1:00:55
  that much value left and when trust goes it's going to lose
• 1:00:59
  value. Amazingly quick, I mean like,
• 1:01:02
  look at how fast this banking went down, SV, B bank or Silicon
• 1:01:07
  Valley Bank was in the Forbes. 500 or something like that.
• 1:01:11
  Top top Bank in the United States.
• 1:01:13
  They were even bragging about it.
• 1:01:16
  A couple weeks later and in less than 48 hours, they disappeared.
• 1:01:21
  So this is going to happen extremely fast when it does
• 1:01:24
  happen and and nobody's going to be able to tell you while it's
• 1:01:28
  going to happen. Now, is going to happen to this
• 1:01:29
  day at this hour. I'm telling you right now, the
• 1:01:31
  dollar is at the end of its currency life cycle and it is
• 1:01:35
  better. To be one month, one year, two
• 1:01:37
  years, five years early then, Just one second late.
• 1:01:45
  Absolutely mind blown. I can I can't even process the
• 1:01:51
  fire. Hose of information that you
• 1:01:53
  are, you're giving our audience, but it's just, it's one of these
• 1:01:57
  episodes that I know I'm going to have to re-watch a few times.
• 1:02:00
  Just so I know exactly like every Nuance take that you're
• 1:02:04
  giving us but absolutely honoured that you come up here
• 1:02:08
  and you did another absolute great.
• 1:02:11
  Great. Coin, Orange Peel session for
• 1:02:13
  us. And of course, first and
• 1:02:16
  foremost, before I want to ask you one more question before we
• 1:02:18
  go out. But before I do that and before
• 1:02:20
  I forget honored to have you here and we'll bring you back as
• 1:02:24
  much as we need to to get this message out there for the people
• 1:02:27
  out there because apparently they still don't know what's
• 1:02:30
  going on and this is the part that blows my mind.
• 1:02:34
  Anyways, when we originally got hip to you, CJ on Twitter, I
• 1:02:39
  don't know who it was. So forgive me guys.
• 1:02:42
  Someone said hearing Opti and CJ together, I need this pure
• 1:02:47
  optimism. And I know, hey, I've been
• 1:02:50
  feeling bullish. I've been feeling optimistic
• 1:02:52
  about this, but besides everything that you told us,
• 1:02:55
  what is the most optimistic thing about Bitcoin to you.
• 1:02:59
  Personally, what, what is the thing that gets you up in the
• 1:03:02
  morning? That gets you excited to orange
• 1:03:04
  pill the world and that keeps you coming back for more and
• 1:03:07
  learning more. It is absolutely 100% the design
• 1:03:14
  of Bitcoin, the difficulty adjustments plus the having will
• 1:03:18
  have to do it Opti when I come back we'll do another episode
• 1:03:21
  and we'll just talk about that. And we'll go perfect.
• 1:03:24
  We should dream nuances because the way that the system was
• 1:03:28
  designed by Satoshi and the people who supported Satoshi and
• 1:03:31
  those early versions of core is unbelie--.
• 1:03:35
  It's so well thought out it's not just one line of thinking
• 1:03:38
  you have to be You have to understand so many different
• 1:03:41
  types of philosophies and ideologies to design something
• 1:03:46
  like Bitcoin. And what's amazing is Bitcoin is
• 1:03:49
  truth. So a lot of I've heard some
• 1:03:51
  people say this way Bitcoin wasn't invented, it was
• 1:03:54
  discovered and I think that's a really interesting concept
• 1:03:57
  because the truth is truth. The truth was and is and is to
• 1:04:02
  come. We know that for a fact, it's
• 1:04:04
  not going to change. So Bitcoin is our way of
• 1:04:07
  discovering truth money. And that's what makes me so
• 1:04:10
  excited about it. Bitcoin isn't going to judge you
• 1:04:13
  by your skin color, by your credit score by how many
• 1:04:17
  Bitcoins you have honestly. It doesn't care who you are.
• 1:04:20
  It is the most fair and free market in the world.
• 1:04:24
  It is, it is the reserve asset of the internet economy, which
• 1:04:27
  is the only economy in the world that has free market, interest
• 1:04:30
  rates, every other economy. The world tries to tell you the
• 1:04:33
  price of money. Bitcoin says, You tell me what
• 1:04:37
  you think my price is, I don't care.
• 1:04:39
  I mean, the freedom that comes with this that allows you to be
• 1:04:44
  a capitalist and a free market Advocate is unmatched by any
• 1:04:48
  other asset, any other ecosystem in the entire world.
• 1:04:53
  So that's that's where my excitement for Bitcoin comes
• 1:04:55
  from. That's where my passion for
• 1:04:56
  Bitcoin comes from its truth money and the truth.
• 1:04:59
  Never changes. And once we build our society,
• 1:05:02
  on top of truth, instead of Lies, Everything's going to
• 1:05:06
  change all the incentives are going to change and I think
• 1:05:09
  Humanity will explode forward. Not only with you know a lot of
• 1:05:13
  people are like AI is going to take over.
• 1:05:15
  No, all good. Things are going to happen
• 1:05:18
  because it's going to be based on truth and things are values.
• 1:05:21
  Not going to be extracted from the people.
• 1:05:23
  It's going to be delivered back to the people who can then
• 1:05:26
  invest it into the real economy. So then we can get some GDP
• 1:05:31
  growth, right? I don't want to call inflation
• 1:05:32
  because I'm not going to use their fraudulent definitions but
• 1:05:35
  But if I were them, that's how you would get their type of
• 1:05:38
  inflation, allow savings to go up as savings.
• 1:05:41
  Go up, credit can expand Savers become Spenders and investors
• 1:05:46
  and then you have sustainable growth and you can build on top
• 1:05:49
  of the strong Foundation, Bitcoin is truth money.
• 1:05:52
  That is the Cornerstone Foundation to the internet
• 1:05:54
  economy. That is the only healthy economy
• 1:05:56
  in the world because it's not managed by men.
• 1:06:00
  And treasuries, are the Capstone.
• 1:06:03
  Treasuries are the inverted pyramid.
• 1:06:05
  The, the traditional system is the, the entire weight of all
• 1:06:09
  these derivatives that on top of that, on top of derivative that
• 1:06:12
  times 100 times 1,000, and it's not even marked to Market, so
• 1:06:17
  it's fake valuations. It's the bank saying, well, this
• 1:06:19
  is what it would be work in a perfectly liquid Market, if
• 1:06:22
  things went the way we wanted it to but in reality it's not worth
• 1:06:25
  that. But it you know the truth is
• 1:06:27
  what I say it is no the the This is what Bitcoin says it is.
• 1:06:32
  And that's what gets me up in the morning.
• 1:06:33
  I know I can nodes trust nobody so that anybody can trust
• 1:06:40
  everybody nodes trust. Nobody.
• 1:06:43
  So that everybody can trust, anybody truth money is the
• 1:06:47
  future of humanity. I am almost positive, we could
• 1:06:54
  keep going for another hour but let's let's stop it here.
• 1:06:57
  CJ and we'll bring you back. Con so guys, give us give us
• 1:07:03
  what you want us to hear on the next one.
• 1:07:05
  Drop us a comment in the chat and we will bring CJ back, I
• 1:07:09
  don't know what we'll do. I think maybe we'll have to wait
• 1:07:12
  more than two weeks on this next one, because who knows what's
• 1:07:14
  going to happen in the next couple of months?
• 1:07:16
  But we'll bring you on soon again.
• 1:07:18
  CJ, we can go all in on having and then, what are you working
• 1:07:22
  on? What do you want people to wait?
• 1:07:23
  Where can they find you better yet?
• 1:07:26
  Yeah. Well, thank you so much for
• 1:07:27
  having me. It's an honor to be here, and I
• 1:07:29
  really appreciate the opportunity to speak about
• 1:07:31
  Bitcoin. It is my passion.
• 1:07:33
  I really actually I love amas so maybe you can organize an ask me
• 1:07:37
  anything. And I can just kind of get
• 1:07:40
  blindsided by questions. That's that's when I have my
• 1:07:42
  best. Orange pill moments, sometimes
• 1:07:44
  people ask questions that even make me think about something in
• 1:07:47
  a different way and try to explain it in a different way.
• 1:07:49
  So that would be a cool but I you know I'm just like everybody
• 1:07:53
  else. Get those orange pills.
• 1:07:55
  Ready? Bring them to the Rave and hand
• 1:07:57
  them out because that's what this is about let's Teach as
• 1:07:59
  many people as we can about Bitcoin as commoditize energy in
• 1:08:03
  the form of money. And as the reserve asset of the
• 1:08:06
  internet economy, they can understand that Bitcoin stores
• 1:08:09
  value from them because it was designed to store value even
• 1:08:12
  beyond the existence of Fiat shit coins.
• 1:08:16
  Then people are going to be comfortable, they're going to be
• 1:08:18
  confident and we can move into an abundant future based on
• 1:08:21
  truth money. Wow.
• 1:08:24
  Couldn't agree more and just to your last Point.
• 1:08:28
  That's that's the thing that really gets me.
• 1:08:31
  The most excited as well. I always say it kind of like a
• 1:08:33
  meme. I am team human and I want to
• 1:08:36
  see Humanity prosper and I, I always I base my life on just
• 1:08:42
  like, show me the truth. I want to know the true nature
• 1:08:44
  of reality and this is why I think I am attracted to Bitcoin
• 1:08:47
  in the first place. As you said, it's truth money,
• 1:08:50
  it's the true reality. He personified in my opinion and
• 1:08:55
  we're so far off the cliff and clown world that you know
• 1:08:59
  something like Bitcoin is just it's going to have such profound
• 1:09:04
  profound effects on on the world that we just can't even fully
• 1:09:07
  imagine it. And this is usually what I what
• 1:09:10
  I try to do on this podcast is is touch on that stuff, but I
• 1:09:14
  would have done our audience, a disservice, if I didn't let CJ,
• 1:09:18
  give us all the contacts. So next time we'll come back,
• 1:09:21
  we'll talk about the having and then What what?
• 1:09:23
  Let's will go on the DMZ. And we'll talk about am, and
• 1:09:26
  maybe we could just jump on Twitter spaces, one day and
• 1:09:29
  we'll just do like an impromptu. Am a nothing plan.
• 1:09:32
  We'll just let people come up and talk to you.
• 1:09:33
  So CJ really appreciate it. Hang out for 20 seconds.
• 1:09:37
  There's a 20 second delay and we'll roll this one out right
• 1:09:40
  now. So just chill out for a moment.
• 1:09:42
  Oops, wrong one and we'll bring you will bring you back in guys.
• 1:09:48
  I know you like that one and we went a little long we gave you
• 1:09:52
  guys the complete sauce. I my mind blown.
• 1:09:55
  I knew this was going to be a mind-blowing orange peel
• 1:09:59
  session. And so again drop your comment
• 1:10:03
  questions in the chat on the YouTube video and then we'll try
• 1:10:08
  to schedule something. So we can just do an impromptu,
• 1:10:10
  a May for you guys, and we can do it on Twitter spaces.
• 1:10:14
  Maybe, maybe we can figure out me.
• 1:10:15
  Come back to YouTube because I know not everyone's on, you are
• 1:10:18
  on Twitter, but I hope you enjoyed this.
• 1:10:20
  I hope it not only Blew my mind but your mind is well, I heard a
• 1:10:25
  few people see if you people in the chat, they're like yo I just
• 1:10:28
  had a mind-blowing Epiphany. So this is what we're trying to
• 1:10:31
  do. We're going to continue to give
• 1:10:33
  you guys the sauce as much as possible from anyone and
• 1:10:36
  anywhere that brings the pure signal.
• 1:10:38
  So come back, we will have our live show tomorrow 12:10 p.m.
• 1:10:42
  eastern time, but hey, we're going to keep these series
• 1:10:45
  running for you guys. So keep stacking.
• 1:10:48
  We will see you on the other side.
• 1:10:49
  We will see you in the bright orange future and until then
• 1:10:52
  guys, A piece out and come back another time, bro.
• 1:10:57
  We're dropping all the content. All right, peace out, guys.