Latest / The Aaron Day Show / Bitcoin's Privacy Problem SOLVED The Confidential Layer Revolution
Transcript
- Welcome back to The Aaron Day Show. This is Season Two, Episode Fifty. This is an exciting episode. You're going to end up being a multi-part situation. So this is the first of a few videos I'll be doing on confidential air. So tonight is going to be primarily an overview of what it's all about. And then I'm going to be working on Developing some interactive guides and some features to go into step-by-step detail on how to use it all. Frankly, I want to talk to the confidential layer people directly, which I have not done yet, about all of the features. Because it turns out there are more cryptos involved than I thought originally, or than I knew originally. I knew originally that this was for... bitcoin and ethereum and now it's bitcoin ethereum bnb solano um tether die so it's actually it's expanded significantly and there are a lot of implications for that but i want to find out from them for sure exactly fully what is working now versus how much of this is going to be rolled out and over what time period. But we do know and I can demonstrate and will demonstrate that you can make your Bitcoin private. So that much I know works and I'll play a very short video on that tonight. But this is actually huge news. And I will say this. I did a podcast last night with a Bitcoin maxi. And I'm very excited about this because he's the only Bitcoin maxi that has ever talked to me. As you know, as we've discussed on this program many times, most of the Bitcoin Maxis have actually blocked me, many of whom I've never spoken previously. And so this is a guy named Cedric Youngleman. he has a podcast called the bitcoin matrix on youtube and so i encourage you to check it out and he actually has he's been around he's been doing this for a while uh has a great great podcast and he's had certainly all of the big bitcoin maxis on there and so uh anyway just a shout out to uh to cedric thank you for uh for having me on and uh and being willing to listen to, you know, somebody who's definitely not a maxi. Now, most of the interview was talking about technocracy and other related things, but we did get into the Bitcoin stuff at the end. So, you know, I thought that was great news and always like to see when people are actually open to discussion. Now, I'm going to ask you to like and share this. I don't know if you have seen this, but I have actually seen a couple of posts that apparently X is clamping down on crypto-related content. And of course, we already know I'm search banned for things that are technocracy-related. So the numbers are a little lower, certainly on Monday. And in fact, in general, I'm putting out posts and they're getting one or two likes and very... very little reach so my freedom of reach as it were has been somewhat suppressed and so i think this is an important episode and want to make sure uh we get the word out and i know some of the people that would normally be on are at another event ironically a bitcoin event tonight So I'm not sure even what's going to happen with the Q&A at the end, but we'll see what happens. I just recapped the last episode from Monday, season two, episode forty nine with Craig Wenkelwitz. We talked about the idea that two thousand eight was just a practice run and walked through the parallels of. where the economy was before the two thousand and eight collapse versus where we are today in terms of debt levels, in terms of delinquency rates, that type of thing. And then we also discussed, you know, AI. This idea is AI. People are pushing the narrative that AI is a bubble that's going to crash the economy. My argument was that if it wasn't for AI, we would have already had a bubble, which doesn't mean that there isn't going to be a, you know, massive amounts of malinvestment in AI. But we did talk about that aspect of it as well. And then the week before that, or excuse me, the episode before that, I guess this was just one week ago, we officially launched the beta of Oasara, which is the global medical tourism marketplace. And as I've said, this is not a final product. I welcome your feedback, particularly your critical feedback about And in fact, you know, I'm building the site to help people. And if it doesn't do that, then, you know, then I will have failed. And so I don't, I know that it needs some work. And I'm sure that there are some things that are obvious that I probably didn't put into the first version of this. So if you go to osr.com, I'm putting the URL there. in the comments, excuse me, you can you can check out the site. But I'm also offering a thousand dollar bounty program that some people have already signed up for. So if you suggest a feature request, you'll receive fifty dollars in Freedom Dollar, which if you're not familiar with Freedom Dollar, Freedom Dollar is a stable coin. It's a privacy stable coin. built on the Zeno blockchain. And so one Zeno equals one dollar. So if you submit something, a feature request and we accept it, it's fifty dollars. A bug report, thirty dollars and UI improvement, twenty dollars. So I welcome you to do that. Of course, as I load it up, we're having problems with the bounty program. So I guess you will not be able to submit that one as a bug request. But in any event, looking forward to this because we are officially launching this on January the first. And by the way, it's interesting. So actually, I was almost a little bit late. I got a little bit sidetracked because I guess the Senate just failed to pass a some insurance reform bill, they were trying to propose the idea that instead of expanding or extending Obamacare, that people would just get an extra fifteen hundred dollars worth of credit towards HSAs. And so I was basically trolling Republican senators on this because, as I've said many times, HSA is not a free market health care solution. It's a combination of a CBDC and a social credit score. And so I'll explain. A health savings account basically is the IRS determines, or I guess Congress through the IRS determines what percentage of your own money You can put into an account that is tied to a card that is digitally tracked that you can only use to purchase goods and services at places that the health care system has decided are valid health care choices. This is not a market solution. It's actually a march towards technocracy. So I'm going to be talking more about that. And if I if I ramp up the Senate. thing. I played the video. That's the last video. Obviously, my campaign is going to be around, you know, people should vote for themselves, take their power back. And one way is to exit this health care system. And because neither the Republicans nor the Democrats are offering any solution, the system is broken at a fundamental level. And so when you go to OSR.com, you will learn about that. You can see there's a section, a guide section that tells you everything that you need to know about You know, the price scandal within the existing health care system, everything you want to know about insurance, so on and so forth. And of course, the big data point here is that every minute in the United States of America, someone files for bankruptcy due to medical costs. Seventy five percent of those are insured. Seventy seven percent of those are homeowners. The average age is forty four point nine. So this isn't, you know, freeloaders or poor people that don't have insurance or whatever. This is this is predominantly people that own homes, have insurance, are college educated, and they're having to file for medical bankruptcy. And in some cases, they're losing their homes to the hospitals and to the banks. And so I find that to be unacceptable. And the medical tourism piece isn't the end-all, be-all. This is the beginning of building a full parallel healthcare system. But it does address this critical component, which is that people can't afford healthcare here for major surgical procedures. They either can't afford it or you have to wait in line or you're not even told how much it's going to cost in advance. And then you get... a bill and then you find you're filing for bankruptcy so you know you can and i recommend create what's called a medical trust where you can put your assets in a trust and shield it from legal liability and so the site has a whole map it shows you and educates you on everything you want to know about health trust there's a chat bot here if you want to ask it questions you don't have to so if you see on this map that your state has a Low favorability score for medical trust. Understand you can create a trust in a different state than you live in. So that's important to note. It's kind of, you know, if you're familiar with the fact that most corporations are filed in Delaware and now increasingly places like Nevada and Wyoming. It's because they have more favorable laws. So in any event, I want your feedback. I'd love your feedback. I'm building this to help people because I know so many people are in a position where they have a job they don't want for health care that they think will protect them in an emergency, which it won't. And the reason that employment is tied to insurance goes all the way back to World War II. when there were wage freezes put in place. And so the way employers like GM and others could compete for talent was by offering health insurance. Well, it was eighty years ago and we've never decoupled these things. And so now people have jobs they don't want because they can only get insurance through this employer based system and it doesn't actually protect them. And then of course, they're building retirement funds. with these financial vehicles, you know, for one case and so forth that they don't even have the voting rights for and that hold investments in companies that are building a digital prison for them. So the whole point of this is to provide any of a number of tools to help people understand the severity of the problem, that there are choices, but everybody should look at a medical trust. And we even put in here links Because if you're thinking, oh, my God, a lawyer, I can't afford a lawyer. We even put links down here to various services that you can go to to actually like LegalZoom and so forth for as little as one hundred and fifty dollars. You can form a medical trust. I mean, one hundred fifty dollars is the cost of three aspirin at a hospital. So definitely it's something that you can you can afford if you have any assets at all that you want to protect. i recommend that so uh welcome your feedback the more critical feedback the better the more there's no you know and again i wouldn't be surprised if i i you know overlooked very basic things and so you're not going to hurt my feelings i'm very much interested in what you have to say um and january first will be the official launch and we're actually going to be pushing to get people to do three things. We're going to have three pledges. One pledge is to sign up for medical trust. Another pledge is to exit the healthcare system during open enrollment next year. And by the way, as I'm watching the Senate debate this ridiculous situation today with their failed bill, you realize, and I will be commenting on this more, there's even more to say about what's going on with the government as relates to technocracy, which will be part of the presentation tonight. This is a hot button issue and there is no political solution because the system is broke. We have thirty eight trillion dollars in debt, but we have much more than that, three times that amount in unfunded medical liabilities. The government is responsible now for thirty forty seven percent of insurance costs. It is the largest part they own. Basically, they set the terms for the health care system. It's broke. So I, you know, I'm very passionate about this as You will know if you've been listening to this just from my own experiences personally and then as an entrepreneur in the healthcare space, seeing how this works. And actually, this just came up in my feed today that highlights one of the main points here, which is that hospitals don't disclose pricing. Only five percent of hospitals nationally provide pricing, even though they're legally obligated to do so. And they don't because they would rather pay a three hundred dollar a day penalty than let people find out how much they're fleecing their customers. And this video really exemplifies that. So let me. So I just got my hospital bill in the mail and before I had a baby, I always wondered how much it costs to have a baby here in the US. I have pretty good health insurance, but this is the breakdown of my hospital bill. So the first thing was the room where I stayed at after delivery, and that was seventeen thousand seven hundred and sixty dollars. Pharmacy, fifty five dollars. Medical surgical supplies, one thousand three hundred and twenty three dollars. non-sterile supplies two thousand four hundred thirty seven sterile supply fifty bucks lab work one thousand four hundred eighty four immunology four hundred and fifty dollars hematology one thousand ninety eight anesthesia six hundred and fifteen dollars for that nice epidural drugs required fifty nine delivery room twenty thousand three hundred ninety five for a whopping total oh wait no I missed it I don't even know what the heck this is five thousand six hundred fifty seven dollars and then for a whopping total of fifty one thousand three hundred eighty three dollars this is before insurance and just as an FYI there was no complications at all during my birth natural delivery no issues whatsoever So there are many such cases. I mean, that's not actually uncommon what you just saw there. And that's because, again, the hospitals don't disclose the pricing. One of the things I might add to the site is a map that allows you to find out whether or not your hospital discloses pricing or not, and then a place where people can upload their bills. Mark off your name and do what this woman just did because that video went viral. And the truth is that's not an outlier. That's the normal situation is that people are getting ripped off with these healthcare costs. So imagine if a million people posted their hospital bills online on a site that people could see and share their stories. um you know because that's how insane this is fifty thousand dollars for a pregnancy with no complication so anyway i encourage you to take a look uh at that and uh you know again i hopefully this to me is one of the most important things we can do people always ask how can we defeat this technocracy and you know you're not going to vote your way out at the ballot box, but you can by reclaiming your free will, reclaiming your attention and saying no and not complying and using alternatives. And there are alternatives for everything. It may seem like you don't have any choices outside of the healthcare system. And it's not true. People just don't know what they are. I mean, in addition to this, I mean, there are many Indian pharmacies and so on and so forth, which I'm not going to certainly put links up to right now but i mean there are alternatives if you if you just realize that you should look for them uh you can actually source a whole variety of different things now that just takes care of you know health if you actually have a situation you need to deal with but of course the real solution here is to empower people to take care of their own health so they don't need these systems and that will be kind of phase two and phase three of what we're doing at osr The episode before that was a great interview that I did with Hakeem Anwar from Above Phone. And actually, I just got my Above Phone this week. And I'm going to be talking about this a lot more, probably towards the end of January. But we're going to be offering a daylight version of the Above Phone. So you will be able to get a de-Googled phone that has a Zeno wallet, has VP.net access. which is a VPN solution where the company offering it doesn't hold your information. So it turns out a lot of these VPN services, they do have the logs. and if subpoenaed, may be pressured to provide the logs. VP.NET actually has come up with a solution where technically they don't even have access to the logs. So put that on the phone and then the six different websites that we have are going to go on the phone, which by the end of January, they'll actually be fully up and fully operational and out of the development and testing phase. and then the phones also have mike adams brightu.ai on it right on the phone so you can use the ai even if you're not connected my thinking behind this is we've got to accelerate adoption and if you can put everything in one device you've knocked out you know six or seven different different things all at once so uh so stay tuned on that um it should be the end of end of next month And if you've listened to the last two or three episodes, I've actually generated AI books on the podcast. And we did one. Craig and I co-authored a book about AI. the parallels between the two thousand eight collapse and where we are today. Previously, we did one on Panopticon in the classroom and what's going on with surveillance. But I recommend that you check that out. I'm going to in fact, I'm going to pull this website up as well. Check out books dot one books that bright learn that I. And so you can see they now have six hundred and thirty three books. And what Mike's created here is phenomenal. So this isn't based on chat GPT information or Claude or X or excuse me, Grok. This is based on information that Mike Adams has collected over the decades. And then, you know, over the last couple of years, he spent two million dollars building his own eye. So what happens is you put a prompt into his system to create a book and that prompt can be up to seventy five hundred characters long. And then he has a system that will actually turn that prompt into a full book that you can read online as well as download as a PDF. And in some cases, you know, there's going to be an audiobook feature moving forward. But the book itself has references in it. It's not like, you know, people are familiar with hallucinations with these AI models. this model actually checks against the the data that he has in his system which are which are primary sources so when you're seeing a chapter and you're seeing the references at the end of the chapter the references aren't the estimate from the ai of what the word should be or whatever next to next to this particular thing he's actually querying information that he has from the primary sources itself so i think this is a phenomenal breakthrough i'm going to have mike on before the end of this year And we're going to share kind of our own personal what we're up to with AI and then also make some predictions for twenty twenty six. But again, AI is just like. digital currency, there's a freedom component to it and a technocracy component to it. And AI, if it's done centrally, if it's Sam Altman through the government under the heading of national defense, AI is horrible. AI is a tool for complete and total digital tyranny. But if it's a situation where You have the AI on your de-Googled phone, and you can search for anything from cures for cancer to how to build a gun or whatever it happens to be. Or you can do what I'm doing now. I think I'm going to get a second camera so I can show everybody the setup. But I just got a two hundred and sixty terabyte RAID hard drive system to actually half that because of the way that the system works. But this is my first RAID drive. And all of the data that we have at Technocracy Atlas and that's powering a lot of the sites that we have moving forward, again, it's not based on, I didn't just install ChatGPT on my website. It's actually coming from primary reference material. So in the case of the Technocracy Atlas, we've got all of Patrick Wood's work. Over the decades, we have Courtney Turner and we have original technocracy documents and manuals. We have a ton of different books. And then kind of to augment that as an example, because believe it or not, he's critical to the technocratic agenda. We have the Epstein files. that were released by the AG earlier and then also by the house and then the minute, which by the way should be happening any day now, whatever this new redacted list is, I'm going to download all of the documents and I'm going to put it into the AI and you're going to be able to chat with the AI as you can now with the existing material. Some of it's based on like Epstein's trust, will and trust and everything. And it provides a link and then you can click on the link and it'll actually pull up the actual page because I've also uploaded my own version of the original source documents. You can not only search it using the search bot, but you can then go to Excuse me. You can go to the actual original document as well. So a lot of stuff there I'm working on. I'm not going to go through all of it now, but I'm working on like ten different things that I hopefully will be able to show you. on the episode with Mike just because I want to help show people what you can do. That's not, you know, it's not chat GPT where you don't have to worry about, you know, your, your kid committing suicide because they form a fake relationship with a, with an AI that was trained on Reddit, but, but how you can, use it to take back your own power. So I encourage you to check out brightbooks.brightlearn.ai. And again, very grateful for everything that Mike has done there because it's all free. I mean, his whole goal on this is to empower people and to be able to, like in this instance, create your own books that are uncensored and for free. I mean, it's democratizing information. So So with that said, we'll get into the subject for tonight, which, you know, the thing is, I've been so busy. Oh, can you sell the PDF or give it away to build a customer list? That's a good question. I haven't read the contract on it. I mean, I think there's a, I know the legal language is, you know... Matt Ramey, Use it at your own risk, I mean he's not guaranteeing fully the accuracy of the information or whatever, but that's a good question something that you should take a look at or i'll take a look at before the next the next episode. Matt Ramey, All right. So I've been working nonstop. So these six websites that we have through daylightfreedom.org all have to be production ready by the end of January. So I spend most of my time now coding these things. But every time I stick my head up and try to check in what's going on, I get infuriated because something's going on. in Congress. And so this relates to tonight's talk about Bitcoin's privacy problem being solved and confidential layer. So just yesterday, I believe, or maybe it was the day before. No, it was yesterday. So do you remember when the whole Genius Act was happening and And people were all excited. So a big part of this, so early on when they pushed the Genius Act, there was opposition to it. In fact, there was a lot of hesitation in the House. It didn't pass, I think, the House initially. And and then finally, or maybe it was the Senate. They got it. They got it over the finish line. They compromised on something. A few Democrat senators put it over the finish line and then it got to the House and it was contentious. It was like coming down to like one or two votes at some point when they were going through this long procedure. And then a bunch of people like Marjorie Taylor Greene and Luna and everything else were like, well, if we don't put this in, this could become a CBDC. Now, I'll talk about this in a couple of slides, but I've certainly beaten this horse to death. But the Genius Act is a backdoor CBDC. In fact, it's much worse than a CBDC. And it's the fact that it's technical and people don't understand it, which is how they've been able to kind of push this. But what they did was this guy, Tom Emmer, who's the Republican majority whip, who took funding from Sam Bankman-Fried, I believe millions of dollars, between his own campaign and PACs and everything else, didn't return the money. Anyway, Emmer puts up this Anti-CBDC Surveillance Act. i know i played it on there he's doing this like profile picture with him with the american flag and everybody's on the the republicans are all lockstep on the house floor when they're debating this thing saying we're not going to become like communist china we're going to protect the you know financial the privacy of the american people which of course is a lie because the it's not the federal reserve it's actually congress that passed The Bank Secrecy Act and all of the Know Your Customer, AML stuff, Patriot Act, all of the financial surveillance comes from Congress, not the Federal Reserve. That's a separate issue. So he puts in this little show bill that says the US will not support even investigating research into CBDCs. And I remember I'm watching this thing and Maxine Waters is there. And at one point, she was the chair of the Finance Committee and everything else. And her argument is, well, we shouldn't have this bill. America should at least be able to research what a CBDC might look like. She was the chair of the Finance Committee when the US did three CBDC pilots. We've done three CBDC pilots. We're not at the research phase. We're at the implementation phase. And this is one of the things I've talked about repeatedly about the hijacking of Bitcoin. We now know definitively it was hijacked. It was hijacked by a variety of people, but amongst them, Jeffrey Epstein, who funded the Bitcoin core developers who cemented the changes to keep Bitcoin slow and expensive, to fund the narrative that Bitcoin is digital gold and not digital cash. And the actual specific developers, one of the developers that he funded in particular, went on to become the co-author of the white paper of something called Project Hamilton. Project Hamilton is a U.S. retail CBDC. This was a project between the Federal Reserve Bank of Boston and MIT. And it works. I actually spoke with a dev that worked on it. And actually a house member was just sourcing me today. I was trolling him and then he finally sourced me trying to claim that, you know, now he's bringing up Project Hamilton and one point eight million transactions per second. But But I'm watching these people on the House floor and they're talking about, well, yeah, we need to have the ability to research a CBDC. And these people don't even realize that we have three that are production ready. So first of all, so let's put that. So the bill was kind of a meaningless thing. bill. But even though it was a meaningless bill, and even though people like Luna and Marjorie Taylor Greene didn't understand the Genius Act, didn't understand it was a backdoor CBDC, but they deluded themselves into thinking that this anti-CBDC surveillance act would save the day. Well... The House just passed the National Defense Authorization Act today, and it got rid of the Anti-CBDC Surveillance Act. So if you're not paying attention yet, if you're still Believing that there's a pro-freedom crypto agenda going on. None of the pro-freedom stuff is going on. The developers that develop privacy technology, open source developers and so forth are in prison. And then the Anti-CBDC Surveillance Act, as meaningless as it was, they couldn't even retain that. So... That's important as it sets the stage as we talk about confidential layer, because there's overlap actually in, excuse me, all of these things. And I mean, you know, so they don't even need a CBDC to surveil us anymore. In fact, they don't even need a stable coin anymore. And when you look at Bitcoin, every single Bitcoin transaction you've ever made has probably been tracked unless there are some very rare exceptions. So there are organizations like Chainalysis, Elliptic, Ciphertrace. These are government contractors that have mapped the entire blockchain. They know which wallets are yours. They know your transaction history and they know your balance. And it's not just the government that you need to worry about. Criminals are using the same transparency to build hit lists. And I wish I was being dramatic here, but I'm not. There's a growing epidemic of home invasions targeting crypto holders, kidnapping, Torture sessions where they hold a wrench to your kneecaps until you give your seed phrase. They're known as wrench attacks. And in the worst cases, murder. There are situations where people give away their keys and get murdered anyway. So the very feature that was supposed to make Bitcoin trustworthy as public transparent ledger has become a weapon. It's a weapon the government uses to track dissidents and freeze accounts. It's a weapon that criminals use to identify their next victim. So you worked hard for that money. You took the risk. You believed in the promise of financial sovereignty. You believed that Bitcoin was about the separation of money and state. And now you're caught in a surveillance trap where everyone from three-letter agencies to violent criminals can see exactly what you have and where it moves. So what do you do? Go back to banks that can freeze your account on a whim, accept that privacy is dead, Give up the dream of truly sovereign money? No. Fortunately, I mean, if you hold Bitcoin, and by the way, I'm still not a fan of Bitcoin because it was hijacked and it's still slow and expensive. But nevertheless, it is there. It's real. There's real purchasing power behind it. A lot of people are holding it and don't know what to do with it. And now there's a solution. There's a way to make your crypto invisible. but not through mixing services that flag you as suspicious. This is where Samurai Wallet and Tornado Cash and others have gotten into trouble and where you can get into trouble. You know, if your coins were involved in a mixing service and some of the other coins were involved in allegedly illegal activities, then they can flag your coins. And there are many such cases of that as well. And so, you know, by the end of this episode, you'll know how it works because there's something now called confidential layer. And it's a technology that takes transparent blockchains like Bitcoin, Ethereum. and then wraps them in cryptographic armor using Zeno. And I've talked about this before, and I mean, it's been around for a while, but Canada, they were working out the kinks, and so now it's actually ready for prime time. So... so i'm excited to to to be able to talk about this and like i said this is part one because i i need to understand the full magnitude because it looks like this thing could be a solution for well i have eight different use cases for it as we go as we go through this but um it's pretty pretty exciting so all right if we go through this give me one second here i'm trying so i actually created a music video for um for this i created a confidential layer music video and it's it's processing so i'm just trying to check i wanted to have it done for the intro and that didn't happen so i'm just checking on something here behind the scenes to see if the status is coming along so depending on how long this podcast goes you may get a a brand new premiere of a music video that i think is really cool actually about it's one of my favorites um that's about confidential layer so all right so here we go so let's let's move through this uh before i do that this is i don't know if i'd call this an official confidential layer video but this kind of sets the stage i love this video so i'll play it anyway to give you a snapshot We have achieved something unprecedented, a unified ideology, a world built on the pure, incorruptible foundation of Bitcoin, the money of the future. It is destiny, one cause, one resolve, the Bitcoin standard. Those who resist, who cling to shadow systems and contradictory truths, shall be silenced by the unstoppable engine of adoption. The Bitcoin standard is perfect. It is the future. We will prevail. July, twenty twenty five confidential layer went live, allowing Bitcoin and Ethereum users to bridge their coins onto a completely private by default protocol, giving power back to the people. Whether traditional finance likes it or not, Bitcoin is now private. So, yeah, so this is so that's a big deal. I thought that was a great nod to to nineteen eighty four and also a nod to the fact that, you know. You know, Michael Saylor has been a big he's the lead guy pushing the hijack narrative. You know, I show this clip of Roger Ver from twenty twelve talking about Bitcoin as a solution to central banks and spreading economic freedom. And then there's Michael Saylor who says we're not going to compete with MasterCard. We're not going to compete with Visa. We're going to comply with know your customer. and all that other stuff. He's actually been actively advocating for the idea that it shouldn't be private. So bad news for you, Michael, but good news for everyone in the world who is interested in having their Bitcoin private and preserving their privacy. So again, you know, to set the frame here, I mean, the trap here is set, right? The noose is tightening on financial surveillance. I've written articles on this. I'm not going to go through all of it, but our money's already tracked. It's already surveilled through the existing banking system, thirteen different programs, NSA data collection, banks working with AI. So the money in your bank account is already surveilled. The stablecoins move things to yet another level and add tokenized fiat and add the ability for that to be tracked and frozen. And now you have the NDAA passed without the anti-CBDC surveillance act so you know this is kind of kind of the state of of where we are and and so you know i want to explain again for those who are new exactly how stable coins are backdoor cbdc's now no technically they're not central bank digital currencies but the important thing to understand is It's not the Federal Reserve who's driving the financial surveillance. As I mentioned earlier, it's Congress through the Bank Secrecy Act, the Patriot Act, and through a variety of laws. Or in some cases, it's the executive branch with suspicious activity reports. So that's who you need to be worried about. I'm never defending or supporting the Federal Reserve. But in the realm of financial surveillance, this is a government agency. enterprise and it and it actually stems from congress so if you want to think about this one way so last year there was something like twenty seven trillion dollars worth of transaction volume using um using stable coins globally twenty seven trillion dollars that's more than visa that's more than mastercard and it's growing it's expected to be a hundred and twenty trillion dollars per year by twenty thirty which is actually more transaction volume on stable coins than visa mastercard and direct deposit combined so if the government put out a cbdc or announced that they were launching a cd cbdc There would be all kinds of uproar. People would actually protest against it. People would would slow up the process. I mean, it would take years and years before a centrally issued CBDC could reach twenty seven trillion. And the reason I know this is that China was the first to launch a CBDC. They got into this in twenty fourteen. They didn't launch it in twenty fourteen, but they've had one for a while. And the adoption hasn't been that great. And it's certainly nowhere near twenty seven trillion dollars. So what they did instead is they took something that was private that people were already using it using and put it under the control of Congress. and they've added now the cbdc level surveillance to it they've also added the federal reserve in to provide audits of the private companies issuing these things and then the kicker is one of the main reasons that they're doing it is to to then also force regulated stable coins to be backed by u.s treasuries so our treasury secretary has said that he believes we'll be able to sell two trillion dollars worth of treasuries through this legislation so what you get through the genius act is CBDC level surveillance and you increase the debt and you fund more wars in U.S. tyranny around the world. So this is why I say it's actually worse than a centrally issued CBDC. And of course, there's been no opposition to it. I mean, I'm one of the only people that's actually been... publicly against the Genius Act. I remember being on a Mises Caucus podcast, and they had me on to interview me, and they had to dig through to find... I was the only one that was actually... Because the crypto community has been co-opted by it, and a lot of people just don't know any better. These politicians probably don't understand it. And so this is essentially what's happened. But you have to understand, Tether has already frozen one point eight billion dollars worth of Tether. lot of this was done even before the genius act i mean these centrally issued stable coins have been working with law enforcement for quite some time circle which is the company behind usdc blacklists addresses all the time so you're using a cbdc with extra steps so this is not anything to be excited about we didn't win against cbdc's I ran for president to raise awareness on this, told Vivek about it. He read my book, and he pushed Trump to come out against it here in New Hampshire. And people are like, oh, you must be happy. I'm like, no, we got rugged. People think that because somebody signs an executive order saying there's going to be no CBDC or doesn't pass a bill, ultimately, called the Anti-CBDC Act, that we're not going to get a CBDC. No, we actually got something worse. So... So yeah, so that's kind of where we are with the Genius Act. And then it doesn't stop there. I mean, I'll bring this up because it's not... Well, it is actually related to confidential layer as well. So CBDCs are tokenized fiat issued by a central bank. It's a digital token that represents fiat currency issued by a central bank. A government-regulated stablecoin... is a digital token backed now by fiat issued by a private organization, but also with regulatory oversight by the government. But money only represents five percent of global assets. So stocks, bonds, commodities, real estate, so on and so forth, make up the rest. So money is only five percent of this. They're now actively working to pass legislation to tokenize all of our other assets, starting with financial assets, starting with your for one case and your ETFs and your stocks and your bonds. The largest segment, by the way, of assets globally. It's called the Clarity Act. And what the Clarity Act is going to do is it's going to require your stocks and bonds and everything. You're going to have to have KYC, know your customer laws, anti-money laundering laws, now on your stocks and bonds and all of your other financial assets that will be tokenized in this centralized system. So the reason that I'm so... passionate about xeno in particular is that xeno allows you to tokenize assets in a way where it's not centralized it's not transparent you can hold those tokens in your own self-custody and you can trade them with anyone anywhere in the world that's why This is a powerful technology. Somebody in the comment, you know, Bitcoin privacy solved. Just use Monero. Monero is great. Monero is a great option. But Monero doesn't help you tokenize the ninety five percent of other assets that aren't money. But I use Monero. I recommend Monero as well. But we're talking about a situation where when Klaus Schwab says you'll own nothing. This is the way that they're doing it. They're doing it by first legal contracts where they basically through legal agreements have transferred our economic ownership, our ownership and data and so on and so forth. And then on top of that, the next phase is to then add a digital token. and tie that to these click wrap agreements that we've signed. And that's what the Clarity Act is. And so this is moving incredibly fast. So with Zeno, with Freedom Dollar, which I've done an episode on that, Freedom Dollar is a stable coin, but it's tokenized on Zeno. It's a token on Zeno that is backed by over collateralized Zeno. So you're not supporting treasuries. There's no tracking. It's completely and totally private. So that's one example of a tokenization project on Zeno. The next is Confidential Layer itself. Confidential Layer allows you to tokenize Bitcoin, Ethereum, BNB, Solana, and many other cryptocurrencies, even Tether, although I'm a little vague on how some of that works. But we're now talking about a couple of trillion dollars worth of purchasing power now that is tokenized. and represented by a token on Zeno that you can spend privately with low fees and with quick processing times. So this is a big deal. And I bring this up in the context of this, where a lot of the tokenization that's going on, the centralized tokenization is going on on platforms. Like I just saw today, I believe JP Morgan just did their first, not for their company, but for somebody else, they did a token sale and they used Solana. And a lot of companies, if you remember the ICO craze, but a lot of companies today currently use Ethereum when they tokenize assets. Well, again, those are transparent blockchains. Those are transparent tokens that are going to be subject to all of this regulation. Now, thanks to confidential layer, you're going to be able to make private not only Ethereum and Solana, but tokens that are created on Ethereum and Solana. So the implications of what you can do with confidential layer is absolutely massive. So we're not even just talking about making Bitcoin private. We're talking about any asset tokenized on Ethereum and these other assets can also be made private. So this is a big deal and a big privacy infrastructure that is going to potentially save the day here at this point. i want to talk a little bit about why this is is so important and you know it was interesting i was grateful again to be on this uh bitcoin matrix podcast yesterday because you know he was he was open to what i had to say and uh you know and one of the things that we talked about is you know for those who who believe that bitcoin was private well i mean if that's the case how does the us government have three hundred and twenty seven thousand bitcoin they're not mining them They didn't buy them on the open market. They stole them using civil asset forfeiture. And I have friends. Ian Freeman has millions of dollars worth of Bitcoin that's part of the, quote, Bitcoin strategic reserve. Ross Ulbrich makes up a big chunk, the largest chunk, I believe, of these Bitcoin. And this was just two hundred thousand Bitcoin. Like four weeks ago, there was a big seizure recently within the last month that added, I think, one hundred and twenty five thousand Bitcoin. So when people say to me. Bitcoin is going to separate money in state. How's it going to separate money in state when the government can track it and then freeze it and confiscate it? So, you know, that's a bit of a conundrum for me. How are we going to defeat the state if the state now is becoming the largest holder of this? And it's not just the US. China has one hundred ninety thousand Bitcoin. The UK has sixty one thousand Bitcoin. And as of right now, the governments have this Bitcoin through civil asset forfeiture. None of these governments are buying it. I guess El Salvador, but I don't have them on the list here. But it's negligible in terms of the percentage. So this is why privacy is so important. And, you know, and I've talked before and I'll talk even a little bit more about it. But, you know, if you're familiar at all with civil asset forfeiture, I mean, this is a... policy where the cops can pull you over and just basically steal your stuff without you even having to be convicted and it's been abused in a major way in a whole variety of different cases and that's that's what they're using here for bitcoin so get pulled over with a speeding ticket and you know cop comes in and and uh you know you give them your wallet and and there you go they can seize the bitcoin and i laugh about it but you know I wouldn't put it past them. The only thing that would stop them is the cop's knowledge and ability to do it. But certainly, I encourage you to research the horror stories about civil asset forfeiture in general, but then you can even look at it already what's happened in Bitcoin. So Bitcoin is not private. Pseudonymity is the way that it was described, which actually means not anonymous, actually, if you think about it. But the Bitcoin address isn't in your name, but the moment it touches anything with your identity, then every transaction is exposed and on a public ledger. So it's a false name, but it's not invisible. One link and then everything gets exposed. Every wallet, every balance, every transfer public and forever. And I know most of you have probably heard this, but I never know who is listening to this because it's still surprising because... I encounter people that have a two thousand and thirteen understanding of what Bitcoin is. And a lot of it kind of relates to this. Well, you know, not your keys, not your coins, man. They can't take your keys. And, you know, but again, if they can find out that you've got the keys, I've yet to find the example. of the person that said, I'm not going to jail. I will rather hold on to my keys. I am not aware of a single case of that. And so when somebody tells you that, well, somebody says, well, they can't stop my Bitcoin. okay if they can't stop your bitcoin but they can threaten to throw you in jail and then they can put your bitcoin on a blacklist and then the number of people that you can actually trade with it is has been reduced substantially it's not and in that regard it's not even fungible at least in its form in its non-confidential layer uh form so um in any event that's that's the situation and i'll tell you it gets worse these exchanges have really become complicit in it. You know, I'm old enough to remember when I thought Brian Armstrong of Coinbase was a good guy who was in Bitcoin for all the right reasons. I thought he was kind of a libertarian guy. And Coinbase has been a huge offender. I mean, they provide all kinds of information to Chainalysis and to government entities. And now he's prancing around Washington DC talking about market structure bills. And everything else. So just understand, anything that comes out of a centralized exchange is automatically tagged at this point. So there isn't a centralized exchange in the United States where you've done KYC where you're safe. That information is automatically reported at this point in time. But, you know, to make matters worse, a lot of people don't even hold their own Bitcoin. So we went from peer-to-peer digital cash that you have in your own self-custody to now we have ETFs like BlackRock and Fidelity. And then we have the newest trend is like something out of the late dot-com era, which is these Bitcoin treasury companies. So you invest in a company. So Michael Saylor goes out and raises money from the public and then buys Bitcoin with it in his corporate entity. And then he doesn't even have the Bitcoin in his custody. He uses a service like Coinbase. So you're like a couple of layers removed from the Bitcoin. You only have a claim on the Bitcoin. So if something happens to Michael Saylor, some other aspect of their business, uh you know he runs away with the coins whatever you're out of luck you don't even have these things remotely in your custody you're a couple of hops away so you have an iou on bitcoin and of course it's complete surveillance in in this particular situation obviously all of the bitcoin through these corporate entities is completely tracked and when you dig into the uh etf agreements With BlackRock and Fidelity and others, they will tell you as a risk factor, you know, your crypto might be confiscated. So we talk about it since people like the digital gold narrative, since that's what they're trying to pimp it out as now. Well, what's what happened to gold? What happened to gold in the nineteen thirties under FDR was confiscated through an executive order. And when the gold was confiscated, if you had it in a vault or safety deposit box, that was immediately confiscated. In theory, you were obligated as an individual to turn in your own gold, but a lot of people didn't. Twenty five percent of the gold supply remained in individual hands. Well, when it comes down to these financial instruments like ETF, you don't have a choice. Think about how easy it would be now for them to confiscate BlackRock or Fidelity or something like that, if all of a sudden it's a national security interest and the government wants to seize your Bitcoin. They'll go to exchanges first, and then they'll go to these Bitcoin treasury companies. They'll go to Bitcoin mining companies, which is a whole other aspect of this that has happened recently, which is that mining companies are now using KYC. So when they mine and win Bitcoin through mining, they're actually reporting that and flagging those Bitcoin? I mean, it used to be that there was an opportunity for you to mine and that's the way you could have Bitcoin that no one could track. Well, now at this point, most of the mining is happening through large corporate players. And a lot of those big, large corporate players are tagging it with KYC information. So that's not even a safe out area anymore. And this stuff is being watched in a variety of ways. In fact, there was an interesting thing Cynthia Loomis, who's been pushing this Bitcoin strategic reserve, I think it was at the beginning of