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Is Trump Making America DEFAULT Again?! | Simply Originals · Simply Bitcoin

• 0:00
  We wanted a strategic Bitcoin reserve.
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  Instead we got 50 year mortgages, $2000 stimmies, and a
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  government selling America to the highest bidder.
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  I mean, what's next? Sell your organs?
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  Make this madness stop. Unfortunately, my brothers and
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  sisters, it's just getting started.
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  This is the final form of Fiat Decay, the great debt serfdom.
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  You work your whole life just to rent the illusion of ownership
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  from a bank. Why is our generation so
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  unhappy, you ask? Well, maybe it has something to
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  do with us making more than ever.
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  Yet we own nothing. The state prints our future away
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  and calls it help. And the truth is, ain't nobody
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  going to help you, especially in the state.
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  It spits on us. We got to help ourselves, we got
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  to empower ourselves, and we have to build a better future
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  for ourselves. And guess what?
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  It'll change everything. And it's happening right now.
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  While this insidious Fiat system dies, a new one is taking shape.
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  And believe it or not, things are more bullish for Bitcoin
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  than ever, and by the end of today, you won't be voting
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  harder, you'll be stacking harder.
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  Let's go. This is the housing market right
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  now, A lean 2 of credit scams held up by a splinter of hope.
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  We got lower credit score requirements, 50 year mortgages,
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  and everyone's pretending nothing's wrong.
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  Well, he's not wrong here. We're in stage 2, the big print
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  rates down, credit standards gone, and debt skyrocketing.
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  I mean really, really anything to protect boomer assets while
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  our generation gets bent over by 50 year mortgages A50 year.
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  Now let's talk about Trump, because this week he's on a
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  roll, selling out America like a Black Friday special.
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  Folks are not thrilled about this idea of hundreds of
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  thousands of foreign students in the United States.
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  We have about 350,000 Chinese. One point during COVID, you were
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  going to, you know, push to, you know, get them out, but that was
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  pulled back. You've said as many as 600,000
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  Chinese students could come to the United States.
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  Why Sir, is that a pro MAGA position when so many American
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  kids want to go to school and there are places not for them
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  and these universities are getting rich off Chinese money?
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  Never said about China, but I we do have a lot of people coming
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  in from China. We always have China and other
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  countries. We also have a massive system of
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  colleges and universities. And if we were to cut that in
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  half, which perhaps makes some people happy, you would have
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  half the colleges in the United States go out of business.
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  Well, I think it's a big deal. You would have the yeah, but you
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  would have, as you know, historically black colleges and
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  universities would all be out of business.
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  You would have a system of colleges and universities, the
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  one of the. Two on China to keep.
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  Our university system, but I think it's good to have.
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  I actually think it's good to have outside countries look.
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  I want to be able to get along with the they're.
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  Not the French. They're the Chinese.
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  They spy on us. They steal our intellectual
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  property. Do you think the French are
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  better? Yeah, really.
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  I'll tell you, I'm not so sure. We've had a lot of problems with
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  the French where we get taxed very unfairly on our technology
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  with, you know, they put 25% taxes on American products.
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  Look, assuming everyone treats us badly because that's the way
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  I am, but we take in trillions of dollars from students.
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  You know, the students pay more than double when they come in
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  from most foreign countries. I want to see our school system
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  thrive, but at the same time, I want to, I know you and I
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  disagree. We're never going to agree on
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  it, but that's OK. And it's not that I want them,
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  but I view it as a business. We have millions and millions of
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  people. Also, I want to get along with
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  countries if possible. You know, people are shocked.
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  Remember Hillary Clinton said we'll be in a war.
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  I stopped 8 wars in the last nine months.
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  I don't want to be in wars. If I am in a war, we're going to
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  win the thing fast and it'll be violent.
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  But you know what? I don't want to be in wars.
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  But one thing you don't want to cut half of the people, half of
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  the students from all over the world that are coming into our
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  country, destroy our entire university and college system.
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  I don't want to do that. I.
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  Wouldn't lose any and. Don't forget MAGA was my idea,
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  MAGA was nobody elses idea. I know what MAGA wants better
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  than anybody else, and MAGA wants to see our country thrive.
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  Yeah, yeah, it's because bailing out colleges that don't produce
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  value is so MAGA, right? Half these institutions would go
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  under if they had to stand on merit.
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  Instead, we're printing to prop up the propaganda factories.
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  Now watch this flip flop. Well, first of all, I think and
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  I know the H1B very well and it's something that I frankly
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  use and I shouldn't be allowed to use.
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  We shouldn't have it very, very bad for workers.
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  And second of all, I think it's very important to say, well, I'm
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  a businessman and I have to do what I have to do.
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  And it's sitting there waiting for you, but it's very bad.
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  It's very bad for business in in terms of it's very bad for our
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  workers and it's unfair for our workers and we should end it.
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  There's never going to be a country like what we have right
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  now. The Republicans have to talk
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  about it. And does that mean the H1B visa
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  thing will not be a big priority for your administration?
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  Because if you want to raise wages for American workers, you
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  can't flood the country with with 10s of thousands or
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  hundreds of. Thousands of foreigners also do
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  have to bring in talent when the.
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  Country get. Talented.
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  No you don't. No, you.
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  Don't. We don't have.
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  Talented. People, no, you don't have, you
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  don't have certain talents and you have to people have to
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  learn. You can't take people off an
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  unemployment like an unemployment in line and say I'm
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  going to put you into a factory where we're going to make
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  missiles or I'm going. To how do we ever do it before?
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  Well, let me just, I'll give you an example.
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  In Georgia, they raided because they wanted illegal immigrants.
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  They had people from from South Korea that made batteries all
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  their lives. You know, making batteries are
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  very complicated. It's not an easy thing and very
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  dangerous. A lot of explosions, a lot of
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  problems. They had like 5 or 600 people
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  early stages to make batteries and to teach people how to do it
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  well. They wanted them to get out of
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  the country. You're going to need that,
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  Laura. I mean, I know you and I
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  disagree on this. You can't just say a country's
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  coming in, going to invest $10 billion to build a plant and
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  going to take people off an unemployment line who haven't
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  worked in five years and they're going to start making missiles.
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  It doesn't work that well. So let me get this straight.
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  In 2016 he says H1 BS destroy American jobs and in 2025 he
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  says Americans ain't talented enough to build batteries.
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  I mean, pick a lane, Don. Here's the truth.
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  No one wants to say this problem was engineered in the 60s
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  through 80s. Companies trained workers.
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  They built schools, they built skills.
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  Then they got greedy. Why train Americans when you can
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  import cheap labor and offload the cost to the state?
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  Now you got a country that can't build anything without visa
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  programs and stimulus checks. That isn't capitalism.
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  That's corporate welfare for oligarchs, and they're all
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  getting bailed out at your expense.
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  I mean, tell me if it doesn't feel like a controlled
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  demolition out there. Here we go.
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  US total debt a record 98.8 trillion, government 38
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  trillion, corporates 43 trillion, households 20
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  trillion. Every sector maxed out and
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  they're still pretending this is all fine.
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  This is fiat's end game. A currency so over leveraged it
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  needs QE just to breathe. Ray Dalio spelled it out. 1971
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  WTF happened while we defaulted on our debts and the market
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  ripped 25 percent. 33 same thing.
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  Default quietly, stocks RIP. Why?
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  Because when money dies, assets, moon and history.
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  In 1971, when I was a young clerk on the floor of the New
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  York Stock Exchange, the United States ran out of money and
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  defaulted on its debts. That's right, the US ran out of
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  money. How?
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  Well, back then, gold was the money used in transactions
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  between countries. Paper money, like the dollar,
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  was like checks in a checkbook in that it had no value other
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  than it could be exchanged for gold, which was the real money.
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  At the time. The United States was spending a
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  lot more money than it was earning by writing a lot more of
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  these paper money checks than it had gold in the bank to exchange
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  for them. As people turn these checks into
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  the bank for gold money, the amount of gold in the US started
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  to dwindle. It soon became obvious that the
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  US couldn't keep its promises for all the existing paper
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  money, so people holding dollars rushed to exchange them before
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  the gold ran out. Recognizing that the US was
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  going to run out of real money, on Sunday evening, August 15th,
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  President Nixon went on television to tell the world
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  that the US was breaking its promise to let people exchange
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  their dollars for gold. Of course, he didn't say it that
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  way. He said it more diplomatically,
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  without making it clear that the United States was defaulting.
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  Strength of a nation's currency is based on the strength of that
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  nation's economy, and the American economy is by far the
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  strongest in the world. Accordingly, I have directed the
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  Secretary of the Treasury to take the action necessary to
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  defend the dollar against the speculators.
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  I have directed Secretary Conley to suspend temporarily the
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  convertibility of the dollar into gold or other reserve
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  assets except in amounts and conditions determined to be in
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  the interest of monetary stability and in the best
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  interest of the United States. I watched in awe, realizing that
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  money, as we understood it, was ending.
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  What a crisis. I expected the stock market to
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  plunge the next day, so I got on the exchange floor early to
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  prepare. When the opening bell rang.
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  Pandemonium broke out, but not the kind I expected.
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  The market was up, way up, and went on to rise nearly 25%.
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  That surprised me because I never experienced a currency
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  devaluation before. When I dug into history, I
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  discovered that the exact same thing happened in 1933 and had
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  the exact same effect. Then paper dollars were also
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  linked to gold, which the US was running out of because it was
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  spending more paper money checks.
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  Then it had gold to exchange for them, and President Roosevelt
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  announced on the radio that he would break the country's
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  promise to exchange dollars for gold.
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  It was then that I issued the proclamation providing for the
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  National Bank Holiday, and this was the first step in the
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  government's reconstruction of our financial and economic
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  fabrics. The second step last Thursday
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  was the legislation promptly and patriotically passed by the
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  Congress, confirming my proclamation and broadening my
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  powers so that it became possible, in view of the
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  requirement of time, to extend the holiday and lift the ban of
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  that holiday gradually in the days to come.
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  This law also gave authority to develop a process.
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  In both cases, breaking the link to gold allowed the US to
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  continue spending more than it earned simply by printing more
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  paper dollars. Since there was an increase in
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  the number of dollars, without an increase in the country's
• 12:07
  wealth, the value of each dollar fell.
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  We're on the same track today. It's why this big print is
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  coming. And this time it ain't just
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  stocks and rocks. It's Bitcoin.
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  There is a role for gold and there's a role for Bitcoin,
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  which I believe are are assets of fear.
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  You own these. Instruments If you are you,
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  you're frightened of the debasement of your currency.
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  You own it if you have financial insecurities or you own it if
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  you have. Physical.
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  Insecurities and and worries. So that's.
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  One of the foundational issues of you.
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  Know my my journey and understanding.
• 12:45
  Crypto more, but today there's about $4.1 trillion sitting in
• 12:50
  digital wallets. Growing very rapidly, even
• 12:55
  Blackrock's Larry Fink is telling China there's a role for
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  Bitcoin. I don't know.
• 12:59
  When the biggest asset manager on earth starts preaching the
• 13:02
  orange pill to Hong Kong, well, you should know where the train
• 13:06
  is headed. It also appears that Sofi just
• 13:08
  announced Bitcoin trading for all customers, allegedly the
• 13:12
  first US bank to do it. Nice to see you Sir, in.
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  Person good to see you as well. OK, so.
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  What's going on here? This is a big.
• 13:17
  Deal. Yeah, this morning we deal for
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  you. It is a very big deal.
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  It's a big day and a big milestone.
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  Reverses the course of time. It does.
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  We've wanted to be a one stop shop for all your financial
• 13:27
  services needs and one of the holes we've had for the last two
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  years was in cryptocurrency, the ability to buy, sell and hold
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  crypto. We were not allowed to do that
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  as a bank. It was not permissible.
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  But in March of this year, the OCC came out with an
• 13:39
  interpretive letter that it's now permissible for banks like
• 13:42
  Sofi to offer a cryptocurrency. So this morning we're launching
• 13:46
  as the only National Bank, the first and only National Bank,
• 13:49
  the opportunity to buy, sell and hold cryptocurrencies like
• 13:52
  Bitcoin, Ethereum and Solano. So I was.
• 13:54
  Going to ask if we're just talking about 3 for now.
• 13:56
  We'll expand well beyond three. It'll be a pretty broad
• 13:59
  assortment. We try to differentiate on being
• 14:02
  fast, having broad selection, great prices, ease of use.
• 14:04
  So we'll try to give members, Sofi members, as much selection
• 14:08
  as they would like and. What's the difference between
• 14:10
  going through you and going through Coin Base?
• 14:13
  You're going through Robin Hood or somebody else?
• 14:15
  Yeah, there's a couple of really big differences.
• 14:16
  First, we're nationally charted bank, which means we have the
• 14:19
  infrastructure, the processes, the financial conditions that
• 14:22
  provides the safeguards that a consumer would expect from a
• 14:24
  bank, which is going to allow us to scale responsibly.
• 14:28
  The second thing is because we are a one stop shop, you can do
• 14:30
  all your banking, checking and savings at Sofi.
• 14:33
  You're borrowing and you're investing and now crypto.
• 14:35
  And one of the unique things about that is when you come to
• 14:38
  Sofi and fund your crypto investments, you'll fund them in
• 14:41
  a Sofi checking and savings account, that checking and
• 14:44
  savings accounts deposits earn interest.
• 14:46
  Say that again. You're going to fund it with
• 14:48
  crypto? You're going to fund your
• 14:49
  checking, you're going to fund your checking account with cash,
• 14:52
  OK. And then when you buy, right,
• 14:54
  Bitcoin or Solano or Ethereum, the money will come straight out
• 14:57
  of your checking and savings account.
• 14:58
  So when you're not putting cash to work, it's not sitting in an
• 15:01
  account that earns no interest and it's not sitting in an
• 15:04
  account that's not insured. So the money will sit in an FDIC
• 15:07
  insured account up to $2,000,000 is what we offer.
• 15:09
  And when you buy, instantly withdraw from that account and
• 15:12
  sending it to the marketplace. Well that sounds bullish until
• 15:14
  you realize you don't own it. That's paper Bitcoin IOU's that
• 15:19
  can and will be frozen. Real Bitcoin lives in your
• 15:22
  wallet, not their database. Self custody is the peaceful
• 15:26
  revolution. If you have any hope in the
• 15:28
  future for yourself. You see this and say Nope that's
• 15:31
  a losing game. I'm opting out of that, and I'm
• 15:34
  using the best form of money ever created or discovered that
• 15:37
  some in Washington can't debase or steal.
• 15:41
  And guess what? Merchants are too because
• 15:43
  they're sick of being debased. We're about to bring it home
• 15:47
  today, but before we do, look at our likes.
• 15:50
  Three or four times maybe. I.
• 15:52
  Pumped those numbers up. Those are rookie.
• 15:53
  Numbers in this racket. Let's take a quick second for
• 15:55
  our sponsors who keep this show on the air over at The Bitcoin
• 15:58
  Way. If your wealth lives in their
• 16:00
  system, it's not yours, it's theirs.
• 16:02
  That's why we scream Bitcoin. That's why you self custody and
• 16:06
  that's why you call our friends over at The Bitcoin Way.
• 16:08
  They'll walk you through multi sig self custody, privacy, how
• 16:11
  to run a node and the tools that keep you sovereign when the Fiat
• 16:14
  system pulls the plug. Don't wait till it's too late.
• 16:17
  Book a free 30 minute console today using that link in the
• 16:20
  show notes Need cash but don't want to sell your Bitcoin?
• 16:23
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• 16:47
  Bitcoin can help diversify how you spend, save, and invest in
• 16:51
  your business, especially when every swipe of a credit card
• 16:54
  eats away at your bottom line. Let's say you run a local
• 16:57
  grocery chain. Most purchases are small, like a
• 16:59
  bag of produce or a gallon of milk, so credit card fees start
• 17:03
  to add up fast. With Square, you can now accept
• 17:06
  Bitcoin with zero payment processing fees, no chargebacks,
• 17:10
  and your instant access to funds.
• 17:12
  And you choose how money settles into your account, whether in
• 17:15
  USD or Bitcoin, instantly and right from your Square
• 17:18
  dashboard. Whether you're aiming for short
• 17:21
  term goals or planning for the long haul, you can automatically
• 17:24
  convert a percentage of your daily card sales in a Bitcoin.
• 17:26
  No extra steps, no added complexity.
• 17:29
  It's a smart, seamless way to build savings in the background,
• 17:32
  all while keeping your day-to-day cash flow
• 17:34
  predictable. And when tax time comes, you'll
• 17:37
  get the paperwork you need right where you find your reports and
• 17:39
  bank statements. Bitcoin is just another way for
• 17:42
  you to take control of how your business makes and spends money.
• 17:46
  Enable Bitcoin payments and conversions in your Square
• 17:48
  dashboard. Head to squareup.com/bitcoin to
• 17:52
  learn more. This is the signal Jack Dorsey
• 17:58
  just lit the fuse. Square now lets millions of
• 18:01
  merchants accept Bitcoin 0 fees until 2027 and he's begging them
• 18:07
  to keep it in Bitcoin to survive dollar debasement.
• 18:10
  Merchants are opting out in real time and this is how freedom
• 18:14
  scales. Not with votes, but with code
• 18:16
  and conviction. They're printing our future away
• 18:19
  in real time and they call it saving the system.
• 18:22
  I think they're just buying time before it collapses.
• 18:25
  Don't vote harder, stack harder. Don't beg the state for hell,
• 18:29
  opt out of it. Bitcoin is your vote for a
• 18:32
  future they can't steal. Be empowered, not debased.
• 18:36
  I hope you guys enjoyed this one.
• 18:37
  Let us know what you think below and don't forget to like,
• 18:39
  subscribe and share the sound money gospel and set those
• 18:42
  notifications and I'll catch you all tomorrow.
• 18:44
  Love you guys, Bruce.