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The Fourth Turning Is Here | Why Bitcoin Wins the Big Print | Simply Originals · Simply Bitcoin

0:00
Inflation collapse. Monetary reset.
0:03
That's not me being dramatic. That's Larry Leopard describing
0:07
the storm we're living through right now.
0:10
This is the fourth turning. It's accelerating and you're
0:13
alive in the middle of it. We've got violence in the
0:16
streets, wealth disparity off the charts, and an innocent
0:20
Bitcoiner, a father, a son, a voice of courage taken from us
0:24
far too soon. In the midst of it all, we've
0:26
also got Bitcoin on the move, NASA discovering life on Mars,
0:31
and yes, right when apparently Bitcoin transactions have
0:35
developed the capability of going to Mars.
0:38
So the chaos is here, but so is the hope.
0:41
And today we're breaking down the signals you need to know to
0:44
navigate this 4th turning, protect your family and hold on
0:47
to the future. Let's get to the news.
0:53
Hello, welcome back. I'm Michelle McCrory.
0:55
You're watching the real story. And we are continuing with Part
0:59
2 of my conversation with Larry Leopard.
1:02
As we spoke about in Part 1 of this interview, Larry says that
1:06
we have built our financial system on a bedrock of sand, not
1:10
sound money, and it is collapsing, and quickly.
1:13
The sovereign debt crisis is fast approaching.
1:16
We discussed how we are living through the 4th turning, the
1:18
most transformative chapter of our time.
1:21
The old order is breaking down. A new order is being forced into
1:25
place. Every 4th turning is about
1:27
change. It's the final act of a cycle,
1:30
and according to this theory by How and Strauss, history moves
1:33
in cycles of about 80 to 100 years long, divided into 4
1:38
turnings of roughly 20 to 25 years each.
1:41
The first turning is the high, a period of strong institutions,
1:45
order, and collective confidence.
1:46
The second is the awakening, when people reject authority and
1:50
push for new values. The third is the unraveling,
1:53
when trusty roads division rises and institutions decay.
1:57
And then comes the 4th turning, the crisis.
2:00
This is the storm and we are in it now.
2:03
The last fourth turning gave us the Great Depression and World
2:06
War 2, and out of that chaos, a new world order was forged with
2:10
America at its peak of power. And according to how Larry sees
2:14
this theory, the current 4th turning began in 2008 with a
2:18
global financial crisis, which means right now we are in the
2:22
thick of it. This is the decisive chapter and
2:25
Larry believes that our money is the crux of this one.
2:30
Every 4th turning ends in a reset.
2:32
The question is, what kind of reset are we headed for?
2:36
Larry Leppard is the author of The Big Print, What Happened to
2:39
America and How Sound Money will Fix It.
2:42
Let's pick it up with Part 2 of our conversation.
2:46
In a monetary crisis and we got gold going up like crazy, We got
2:49
Bitcoin going up like crazy. We know historically, looking at
2:52
other countries that most Fiat monies don't last more than 40
2:55
or 50 years. We're, you know, 50 some odd
2:57
years into this Fiat experiment, Trump and Miran and Bessette, I
3:01
mean, all these guys know it. It's not, this is not some
3:04
hidden fact. You know, Ray Dalio knows it,
3:06
You know, Paul Tudor Jones knows it.
3:08
It's it's going to be dramatic and it's going to be large
3:10
because we've printed a lot of money.
3:12
But thank God we have an administration that understands
3:15
that the problem exists and that understands that these are the
3:18
two solutions. The president actually has the
3:20
power to do these kinds of monetary things.
3:22
We do know he's been willing to do bold and risky things and
3:26
and, you know, he's not afraid to take chances.
3:28
I think something's going to break in the next 5 or 6 months
3:31
and this stuff is going to take off like a scalded dog.
3:34
Nixon, too, when he came along in 71, he just took us off the
3:37
gold standards. Could they wake up one day and
3:40
say, hey, you know, we're going to make Bitcoin the strategic
3:42
reserve asset. We're going to nationalize
3:44
strategy and we're going to, you know, calling all the ETFs just
3:48
the way that Roosevelt did, you know, in a 61-O2 and all that.
3:51
Bitcoin needs to be sent into the government.
3:53
Of course, we'll pay you cash for it.
3:55
But could that happen? I mean, it's it's not outside
3:57
the realm of possibility. Larry absolutely brought it and
4:01
we're going to link that interview below.
4:03
But today, let's take a moment. Yesterday we lost Charlie Kirk.
4:07
Now I know not everyone agreed with him on everything, I
4:11
definitely didn't, but he was a human being, a father, a son, a
4:14
husband and yes, a bitcoiner at What are your thoughts on
4:17
Bitcoin? I'm a big fan of Bitcoin.
4:19
Should the US do a Bitcoin? Reserve.
4:20
Absolutely yes, yes, the the United States should should have
4:23
a strategic Bitcoin reserve. And who should?
4:25
Pay for the Bitcoin reserve. That's a good question hopefully
4:28
and some of the tariff money could potentially do that.
4:30
The reason why I think we should have a strategic Bitcoin
4:32
reserve. I know you guys had Michael
4:34
Saylor on your show and I I think he's on to something.
4:36
There is something called like the mass adoption theory, which
4:39
is over a period of time like the English language U.S. dollar
4:42
things just catch on and they're just kind of volitional and
4:46
there's no stopping it. I think Bitcoin is that you got
4:49
to watch out though. Quantum computing could
4:51
potentially crack cryptography, but if they.
4:53
Do that, then they're. Also cracking bank accounts.
4:55
Right. And stock trading.
4:56
So quantum is the only asterisk on all this, but I think Sailors
5:00
on to something very profound, which is that because Bitcoin is
5:04
a scarce, legitimately scarce resource that it's probably
5:08
going to go nowhere but up. So Sailor makes very provocative
5:10
argument that Bitcoin could go up 10X over the next 10 years or
5:13
something like that, which therefore, if we start a Bitcoin
5:15
strategic reserve, it could like pay for the national debt and
5:19
like basically cover our losses on the deficit.
5:23
But I think that we should, I think the United States
5:25
government should be invested in crypto without a doubt.
5:26
I tend to agree. With Michael Saylor.
5:28
That it's more likely. To go.
5:29
To a million than. 0. Yes, I think that's right.
5:32
And by by the way, so you have a problem of the world's richest
5:34
people, they don't know where to put their money.
5:37
There's only so many penthouses in London and Paris that they
5:39
could buy. There's only so many ranches in
5:41
Wyoming that they could buy. And so they, we had this
5:43
problem. So you create all this money,
5:45
the money goes upwards to wealth inequality point to your earlier
5:48
point. The question is then, well, what
5:50
do rich people do with money? There's only so many equities
5:52
they can buy. There's only so many shares in
5:53
the video. And Apple and Microsoft, they
5:55
could justify, well, money needs to find a home and it's found a
5:59
home in Bitcoin. And so once it has mass adoption
6:01
and the literally the wealthiest families on the planet are
6:04
starting to park serious monies in Bitcoin, and because it's
6:08
scarce, it's easy to transfer and it's just a winner.
6:11
Sometimes there's a mass adoption and it just rises to
6:14
the surface. And I think, I think Bitcoin is
6:16
not. His voice, his courage, his
6:17
willingness to engage with people even when they disagreed
6:21
with him, that is an absolute rare thing in this world.
6:25
This violence, this chaos. It is the fruit of a Fiat system
6:28
that feeds division, resentment and rage.
6:31
Broken money creates broken societies.
6:35
Charlie deserved better, I'll do.
6:37
Let's honor him by not sinking into the darkness, but by being
6:40
strong, loving one another and rejecting the madness.
6:44
Rest in peace Charlie, your courage will not be forgotten.
6:47
Now it might feel insane to say this, but we are still in the
6:51
early innings. Bitcoin at 100K is just the
6:54
start. Why?
6:55
Well, because the dollar has a long way to fall.
6:58
Kind of like Morty's lightsaber. Perfectly vertical.
7:06
Larry Leopard calls it the big print.
7:08
Every Fiat system lasts 40 to 50 years.
7:11
Ours started in 1971. Do the math.
7:13
The clock just ran out. And right on cue, NASA allegedly
7:18
discovers life on Mars the very same week Bitcoin demonstrates
7:23
that it can be sent to Mars. Coincidence.
7:25
Maybe. Or maybe it's just another
7:27
signal. Fiat is whymar and Bitcoin is
7:31
interplanetary. And the scientific community
7:34
that will, in essence, pressure test what we think we've found.
7:37
So we're talking about Perseverance.
7:39
This was a mission sent to Mars under President Trump's first
7:43
presidency. And a year ago, we found a
7:46
sample. And it was, again, we're
7:49
exploring in places where there were rivers and where there were
7:52
lakes. And much as on Earth, we think
7:56
that that's where we'd see signs of ancient life on Mars.
8:02
And so a year ago, we thought we found what we believe to be
8:06
signs of microbial life on the Mars surface.
8:10
And so we put it out to our scientific friends to pressure
8:14
test it, to analyze it and go, did we get this right?
8:17
Do we think this is signs of ancient life on Mars?
8:22
And after a a year of review, they've come back and they said,
8:28
listen, we can't find another explanation.
8:31
So this very well could be the clearest sign of life that we've
8:35
ever found on Mars. And the world is realizing the
8:39
Fiat scam for what it is. Jack Mahler's nailed it.
8:42
Trust in the dollar is gone in Russia, fading in China, eroding
8:46
in India. Bricks are moving to neutral
8:48
reserves. Gold and Bitcoin next.
8:51
China's Yi pushes a new global order, flanked by leaders of
8:55
Russia and India. I'm sorry, did you?
8:58
Were you the one that ordered the truth, the quiet part being
9:01
set out loud? Was that you?
9:03
Yeah. Here's an extra, extra large
9:05
order of the quiet part being set out loud.
9:08
Trust in the dollar is either down or gone.
9:10
Depends on who you're talking about.
9:11
In Russia, Gone. China, Pretty much gone.
9:14
India. It's getting there.
9:17
It's getting there. the US Treasury is no longer the world
9:21
reserve asset. Russia, China, India, the rest
9:25
of the world are going to rotate out of U.S. debt.
9:28
They're going to rotate into neutral assets.
9:31
What the BRICS nations are doing is saying we're going to take
9:35
all of our surplus, all of our export profits.
9:38
We're going to sweep it into gold and Bitcoin.
9:40
We are living in a neutral reserve era.
9:44
Gold is going to lead Bitcoin. Bitcoin is going to follow and
9:47
outperform. Bitcoin is going to win over the
9:49
long tail. And the BRICS nations are
9:51
forcing this. That's exactly what they're
9:54
doing. This is Vladimir Putin's
9:56
advisor. This is the top of the top
9:57
saying the quiet part out loud. the United States is trying to
10:00
rewrite the rules of gold and Bitcoin.
10:03
These two sectors, gold and Bitcoin, are essentially
10:06
alternative to the traditional global currency system.
10:09
And he's claiming over time, the US national debt will be placed
10:13
in the stable coins. And they will devalue that debt.
10:15
They will devalue that debt against what?
10:17
They will devalue that debt against Bitcoin, you guys.
10:22
I'm never the one to say I told you so.
10:25
All of us in the chat, we were so right on the Jack Mallard
10:28
show. We've been saying it, but I
10:30
would never be that guy. I would never be that guy.
10:33
Now look at gold. Ben Rickard here put it
10:35
perfectly. Gold's volatility isn't real.
10:38
It's actually Fiat dying the artifact of a currency and its
10:42
death throes. And then there's Scott Bessent.
10:44
Remember when I told you Scotty B was an absolute weapon in
10:49
economic war games? Well, I didn't expect him to go
10:51
full Randy Savage in the White House, but here we are for
10:55
turning Mad times and his biggest fight with the Fed, whom
10:59
he calls one of the largest engines of inequality on the
11:02
planet. The Fed says they're data
11:04
dependent and the data has been atrocious.
11:07
Then it seems like they're probably some makeup cuts in
11:10
order here. Or the size of this month's cut
11:14
needs to be recalibrated. And sure, it could be fixed.
11:17
Anything could be fixed. You just have to 1st we had to
11:20
establish it was broken, which President Trump did.
11:23
Now we have to go about fixing it.
11:26
And it, it, it wasn't working the well before that, that kind
11:30
of this lazy notion that they had dropped down to these low
11:34
response rates, 3040% response rates.
11:38
And they intuited the balance, you know, intuiting the balance
11:42
is going from quantitative to qualitative.
11:45
We need good empirical data and that that's, it's not easy to
11:50
get to, but you got to want to get there and we want to get
11:53
there. I think EJ is a great person to
11:56
do it. I've known him for years.
11:57
He's high integrity, data-driven.
12:00
The ruthless truth. Wall Street is waking up.
12:04
Michael Saylor says the government will hold Bitcoin,
12:08
banks will lend against it, and big tech will build it into your
12:11
life. Oh, and this one, this one right
12:13
here. BlackRock CIO just told CNBC
12:16
everyone should own hard assets like Bitcoin.
12:19
Probably nothing. What do you think the?
12:21
Ideal portfolio is supposed to look like.
12:23
Today we're surrounded by investors.
12:26
We're surrounded quite literally by financial advisors who are
12:30
thinking about that, retail investors who who are watching.
12:34
I mean, what does it look like today?
12:37
Very different than the past. So maybe I'll start with the
12:39
start with the equity market. I mean, the first thing I would
12:41
say, we're going through the most extraordinary technology
12:44
dynamic I've ever seen. Before, I would stay long
12:46
equities. By the way, you can buy Vol, you
12:48
can buy volatility very cheaply to manage your exposure and stay
12:52
long equities oriented to where growth in technology is in fixed
12:56
income. Income is amazing.
12:59
You're still clipping 6%. Would I stay five years in end
13:02
on the curve? I'd still clip that coupon.
13:03
We're extending a little bit out.
13:05
And then quite frankly, I mean, there's some interesting things
13:08
to do in privates, bespoke markets and I think hard assets
13:12
have to enter the equation today, gold, Bitcoin, things
13:16
that give you a little bit of ballast in the portfolio against
13:19
potential for currency depreciation.
13:21
When you talk about Bitcoin, should be part of the.
13:23
Portfolio what? Type kind of percentage.
13:25
Are you thinking about is it a 5?
13:27
Percent, which generally seems to be what people are talking
13:30
about, more or less. It seems high to me.
13:32
The start run our global allocation fund, you know, we're
13:35
running long equities, you know, we're heavy income, you know
13:38
we're running, you know, in the three to 5% region on gold.
13:43
Gold strikes me today as a better currency hedge.
13:47
Bitcoin tends to trade with Vol tends to trade with the NASDAQ.
13:51
So we're running considerably lower than that in in crypto.
13:55
I just think it's going to go up and I think it's a good
13:56
expression but 5 seems high to me.
13:58
But it depends where you are in your life and and how much risk
14:01
you want to take. Well, we'll.
14:03
See you on the stage, the big. Stage, I said.
14:05
Is our as the? Headline speaker.
14:06
The keynote. Today, Rick Reader, thank you.
14:08
And I thought this was a little interesting, kind of builds off
14:11
of Charlie Kirk's thoughts he had on Bitcoin adoption.
14:14
But macro investor Jordy Visser says bitcoins March to 15
14:18
trillion and market cap will be faster than that of the MAG 7.
14:22
Faster than Facebook, Apple, Google, Amazon and Microsoft.
14:26
Think about that. I still believe we are going to
14:30
shock people in the next in the short time since since for us
14:34
double from 100 to or 95 to 200 by the end of the year is very
14:40
unlikely, at least where it is now and where the implied ball
14:42
is. So probabilistically it's not
14:45
there. I I've been through I've been
14:47
through this cycle before of innovation and what I mean by
14:51
that for everyone listening. So Bitcoin moves faster and and
14:56
and technology today moves much faster than it did in the past.
15:00
What the mag 7 accomplished from 2007 to today in 15 years,
15:05
people have to go look breathtaking.
15:07
Yeah, I mean you, you went from 1 trillion to 15 trillion.
15:12
When you combine all that, this is going to take a lot less
15:15
time. So bitcoins going to get to 15
15:17
trillion. It's going to happen, and I
15:20
believe it's going to happen in much less time.
15:22
The reason is because of artificial intelligence.
15:24
So I started doing this because I like to speak a language where
15:29
AI is in the middle of the traditional finance world in
15:31
Bitcoin. And I wanted to bridge those two
15:33
groups together and say you have to understand that the fuel for
15:37
moving money from this side to this side is going to take AIAI
15:41
will disrupt all investments on this side, which make them less
15:45
investable, and gradually people will move into Bitcoin.
15:47
So AI will disrupt the legacy, the legacy system, and it's
15:51
going to bring things into this more into the digital.
15:53
It has to be more efficient, has to be good.
15:56
I was given an example to someone.
15:58
If you're, you know, if you understand poker and you're at a
16:01
poker table, there's all you know, if you, I forget the
16:03
famous line that Doyle Bronson said, but it basically said if
16:06
you don't know who the sucker is at the table, you're the sucker.
16:09
Okay, if you're not using AI in your business, if you have a lot
16:12
of people and you're not using AI, which is the way most
16:15
incumbents are, they're gradually looking to the CTO,
16:19
the CTOS at every company I've ever seen think they can do
16:21
anything better than any existing technology.
16:24
The incumbents are going to get screwed.
16:25
So they're sitting at the table and they're good poker players
16:28
today, but they're not using AI the same way that the smaller
16:31
kids are doing. And when they get at the table,
16:33
and once everyone at the table has AI and you don't, you are
16:36
the sucker at the table. That will happen slowly because
16:39
the adoption takes time. AI agents are coming, they're
16:42
coming quickly. And as they come quickly, more
16:45
and more decisions will be made by computers and less by humans.
16:48
That's what Bitcoin needs because Bitcoin this year, we're
16:50
talking about it like it's not doing well.
16:51
It's outperformed the S&P. The only thing it hasn't
16:54
outperformed this year's goal. That's it.
16:55
And then some of the foreign markets, but it's outperformed
16:57
them by a lot. So I think as people kind of get
17:00
used to this, at some point, just like the MAG 7, this will
17:04
go parabolic. And I think everything today is
17:06
happening in about 1 10th the time.
17:08
So if it took 15 years to go from 1 trillion to 15 trillion
17:12
with the mag seven, I'm not saying it's going to happen in
17:15
110th the time, meaning 1 1/2 years, but I do believe that
17:19
people are going to be shocked in this move higher.
17:21
And the time where this happens is when Vol collapses in my
17:24
history. So Bitcoin saying it's going to
17:27
double in a year was a very low probability event with the Vol
17:31
at 40. I'm a black Scholes guy.
17:33
That's where I spent my life. The probability of what I was
17:36
saying was less than 2% at the beginning of the year.
17:38
I still think this stuff is going to happen.
17:40
Insane. Now before we bring it home
17:42
today, look at our likes. Three or four times maybe.
17:45
I pump those numbers up. Those are rookie numbers in this
17:47
racket, guys, don't forget to like, subscribe and give us a
17:50
PAMP. And remember, if you don't hold
17:52
your Bitcoin, you don't own your Bitcoin.
17:54
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slash simply to learn more. All right, big finish time.
18:37
I don't know if you guys saw this, but Apple just dropped an
18:41
orange iPhone. Coincidence.
18:43
I don't think so. Orange is the signal of the
18:45
future. Oh, and wait, what was?
18:47
What was that? Gigachad said again.
18:49
Oh yeah, he says Bitcoin will be built into your iPhone, and the
18:53
timing couldn't be anymore perfect.
18:55
Bitcoin is the one universally acknowledged commodity.
18:58
If we let banks in the United States use Bitcoin and custody
19:03
it and sell it and buy it and loan against it, if the United
19:06
States government begins to hold it and a strategic reserve, the
19:10
beneficiary will be America. If you could talk to.
19:13
President Trump and say here's the one thing.
19:16
I would tell you to do. To ensure that.
19:18
America leads the way. In the crypto space.
19:21
What would you? Tell him.
19:23
I would say he's already done the first thing, which is
19:26
highlight Bitcoin as a store of value as digital gold and put
19:31
the United States support behind a strategic Bitcoin reserve.
19:35
The second thing is to support the creation in law of a
19:39
legitimate path for issuers in the United States to issue
19:43
digital tokens, digital securities, and digital
19:47
currency. Because if if American companies
19:51
can create those digital assets, we will become bankers to the
19:55
world. What does the?
19:57
Future look like to you? With with Bitcoin, with
19:59
cryptocurrency in general, where do you see it 5-10?
20:02
Or even 100. Years from now, I think Big Tech
20:06
is going to embrace Bitcoin. They're going to let you hold
20:10
your Bitcoin on your my phone, on your Android phone.
20:13
It will find its way into Microsoft software, Amazon
20:17
software, Google, Apple software.
20:20
I think that banks are going to embrace Bitcoin.
20:23
So your bank's going to give you a loan against your Bitcoin.
20:26
It'll let you, it'll buy Bitcoin for you.
20:28
Insurance companies will start to support Bitcoin.
20:31
I think families will increasingly begin to see it as
20:34
their savings account, the yoga studio, the restaurant, the
20:39
hotel chain, they'll be able to raise capital and in order to
20:43
improve their business and to innovate.
20:45
And I think that that sound money that will spread through
20:48
South America, Africa, Asia, it'll treasure China.
20:53
So I think the future is American values, American
20:58
technology, not just making America great, but also
21:02
spreading economic prosperity to the entire world.
21:05
Also can be any more perfect because historic rate cuts are
21:08
coming. The only question is will it be
21:10
2550 or a 400 bips? I firmly believe now that our
21:15
day is coming, the conditions are such that there is room now
21:21
for the defense of liberty. The people know that the system
21:25
we have is not working. It's not working economically,
21:28
it's not working monetarily. Our foreign policy is not
21:31
working. And therefore they're looking
21:34
for answers. They will not welcome us with
21:36
open arms. We've found that out.
21:39
But there is a vacuum out there, and the vacuum is not in one
21:44
political party. It is pervasive.
21:46
It's throughout the country. It is throughout the political
21:49
system. But our views are just as
21:52
pervasive. Ideas spread.
21:55
They can't stop them. An idea whose time has come
21:58
cannot be stopped by any army or any government.
22:04
We are in the fourth turning This is the storm and the choice
22:07
is simple stay on the sinking Fiat ship or build for the
22:11
bright orange future. The signs are everywhere Wall
22:14
Street, Washington, Mars now even in your pocket.
22:17
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22:39
Hey, drop it in the comments. Do you think the Fed cuts 2550
22:42
or even 100? And where do you think Bitcoin
22:44
goes from here? And I hope you guys enjoyed this
22:47
one. Don't forget to like subscribe
22:49
and give us a pan and set those notifications for the best in
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Bitcoin news delivered to you daily.
22:54
We got Sophie, Dante and oceans. They got bangers coming your
22:58
way. So stay tuned and I'll catch you
22:59
all next time. Love you guys and we're going to
23:02
make it. Peace.
23:04
If you. Prefer.
23:05
To go down with the ship.