Latest / Simply Bitcoin / 267k Bitcoin SHORT is OVER: EXPOSING BlackRock & Coinbase | EP 1087

Transcript

267k Bitcoin SHORT is OVER: EXPOSING BlackRock & Coinbase | EP 1087 · Simply Bitcoin

0:00
Yo, welcome to simply Bitcoin live is the world's largest
0:05
Bitcoin exchange teaming up with the world's largest asset
0:08
manager to suppress bitcoin's price.
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Well, as crazy as it sounds, you're going to want to hear
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what we've potentially revealed about the speculation that has
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been circulating for the past two weeks that BlackRock and
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Coinbase are playing paper Bitcoin games.
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Yesterday we brought you the story about BNY Mellon getting
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the approval to custody Bitcoin. But could this story be related
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to the rumors about BlackRock and Coinbase?
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Now, again, I think there's more than just rumors here.
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If BlackRock and Coinbase weren't doing anything
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suspicious, why did they recently amend their original
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agreement about how they custody Bitcoin?
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And why did Coinbase launch a wrapped Bitcoin token only two
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weeks ago just before these rumors were circulating?
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Could this could this could look normal to most people, but when
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we consider hundreds of thousands of Bitcoin having left
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Coinbase just this year, some people are speculating that this
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could be a move to extend their paper Bitcoin games Cuz after
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all we hear about all these ETF inflows we hear about all these
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crazy numbers, but the Bitcoin price just continues to go
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sideways like what's going on Well, since Coinbase and
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BlackRock amended the agreement, the price of the price of
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Bitcoin has skyrocketed. Is that a coincidence?
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I don't think so anyway super explorer this topic I have my
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legendary Co host with me in the hot seat with me today, optimist
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jump into it. Let's talk about some of this
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news Xiaomi. OK, so here is the first piece
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of news that dropped and this news dropped about seven days
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ago and it was BlackRock amends Coinbase custody agreement to
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require a 12 hour withdrawal amid debt rumors.
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And this all started because someone on Twitter called going
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by the name of Tyler Durden says 8 days since I called out the
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CEO of bald base. That's hilarious. 7 days candle
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sense and not a single BlackRock ETF buy.
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This is because of you. The people now break the range
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and vertically teleport to 100,000.
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So someone asked him so the ETFs weren't actually buying BTC this
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entire time. Someone fill me in here Tyler
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replied. Yeah they were.
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They were just not all of it. Likely some as gold, silver and
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literally everything else Wall Street touches Bitwise and
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Fidelity are suite wallets are all available online.
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So that's the question that I have for you guys.
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If Fidelity, El Salvador and Bid Wise have made their Bitcoin
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wallets public, we're essentially trusting Coinbase
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that they're not rehypothecating Bitcoin and that they're not
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selling paper Bitcoin. And again, isn't it quite
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suspicious that they had to omit they had to change the custody
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agreement to require a 12 hour window instead of I think it was
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more than 24 hours before ahead of these debt rumors.
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And by the way, as soon as they changed the the agreement, guess
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what happened? The price of Bitcoin started
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pumping again. So could it be that BlackRock
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was selling paper Bitcoin? I don't think it was BlackRock.
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In fact, I think it was Coinbase that was doing this.
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Because after all, do you guys remember the exchange that goes
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down every time the price of Bitcoin, you know, shoots to the
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moon? It's always Coinbase.
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I made a joke the other day. I tweeted this out like it was a
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total joke. But I'm surprised how much
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traction it got. I said, hey, I think Coinbase
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might be the, the circuit breaker for, for the Bitcoin
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price for the US government. And that's we blew up.
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It got like 7-17 hundred likes. So it seems like everybody is
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kind of thinking about this. And it also reminds me of this
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tweet that Brian Armstrong tweeted out a very long time ago
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in regards to people leaving their digital assets on
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Coinbase. He goes on to say there is some
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noise about a disclosure we made in our 10 Q today about how we
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hold crypto assets. TLDR, your funds are safe at
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Coinbase just as they've always been.
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We have no bankrupt. We have no risk of bankruptcy.
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We've heard that before a million times, by the way.
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However, we included a new risk factor based on the SEC
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requirement called SAV 121, right?
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So isn't that quite interesting the way that they play with the,
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with the, you know, with the, with the worrying and the
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legalese and all that stuff. We now have an example, and I'm
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talking about River Financial, I'm talking about Fidelity, I'm
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talking about Bitwise, I'm talking about El Salvador.
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Bitcoin is a public open Ledger. Make the address public.
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Like what? What's the problem?
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What this whole we don't need to run on the trust me, trust me
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bro model anymore? We now have the the Don't Trust
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verify model, and you either have the coins or you don't, and
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you can make those addresses public.
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There's no reason whatsoever as Bitwise and Fidelity have proven
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to obfuscate these addresses that supposedly has the Bitcoin.
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So I think it's a step in the right direction that Coinbase
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amended their stuff because I think this makes the BlackRock
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ETF look like an inferior product.
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And I think BlackRock is putting a lot of faith in Coinbase to be
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a, a player with integrity. But at the same time, ladies and
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gentlemen, we have to keep in mind that Coinbase is the
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official custodian of the 8 out of nine Bitcoin ETFs.
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And Coinbase is also the official custodian of a lot of
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these public companies that are holding Bitcoin and they are not
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making their these addresses public of these people that
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supposedly own that Bitcoin. You have to essentially trust me
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bro in Brian Armstrong and I had a simply Bitcoin IRL many, many
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months ago, like six months ago. And I asked both Caitlin Long
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and Leigh Leopard if they thought that the ETFs were going
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to bring potential rehypothecation risk, and both
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of them said absolutely. Because there's a lot of
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speculation that in the gold market, the reason that gold
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hasn't performed the way that a lot of people expected it to
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perform was because there's a lot of downward sell pressure.
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There's a lot of paper gold that's being sold.
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Now, the reason that that can't happen the same with Bitcoin is
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because you can take custody of your Bitcoin in a very, very
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easy fashion. And also it's a public Ledger,
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so you can show it for the world to see.
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So yeah, I hope BlackRock changes tune.
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I don't believe Coinbase at all. I think they definitely,
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definitely, definitely had something to do with the fact
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that the price wasn't pumping. And I don't think it's a
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coincidence that as soon as the amendment was changed, the price
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of Bitcoin pumped the way it did.
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And I also don't think it's a coincidence that every single
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time the price of Bitcoin pumps Coinbase goes down.
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I don't think those things are coincidences, in my opinion.
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So anyways, there's no way to know this.
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The only way that you can protect yourself from all of
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this is by stop trusting other people with your money and take
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self custody of your coins, especially now that we have the
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technology and the tools to do so.
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Anyways, Opti, what's your take on this man?
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Because this has been a hot button issue for the last two
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weeks. A lot of speculation, a lot of
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people covering this topic. I got to take a little bit of
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credit. I know you're going to take a
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little bit of credit. I'm going to I'm going to give a
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little bit of credit to Bitcoin Twitter, that account, Tyler
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Durden. We put enough pressure on
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Coinbase specifically on BlackRock too, for BlackRock to
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be like yo, Coinbase, you, you guys are making us look bad.
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What the fuck? And then after they amended it,
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the price pumped like what's going on man there, man, like
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what's going on? Something's going on.
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I'm just saying anyways, what's your take, Opti?
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Well. My initial thoughts are I don't
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think BlackRock is that dumb to actually start playing RE
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hypothecation games right now. I think they're incentivized to
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have that ETF product do very, very well, though I am not a
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above what I always call the billionaire FUD playbook in
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regards to Bitcoin, where they kind of FUD Bitcoin so they can
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stack their bags and then once they're got their bags packed,
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they're fully endorsing Bitcoin. So again, I'm not above this
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though I have been kind of following what Chuck Matey and
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Sonny from Time Chain Index have been saying recently.
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And apparently according to what they're seeing on the time chain
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with their on chain analytics, they are beating the drum that
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all of that Bitcoin is actually being bought by ETFs.
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Though it is very interesting that BlackRock kind of, you
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know, put put their pressure on Coinbase to amend the, the
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custodial agreement and then we do see a price start to run.
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I'm still kind of more on the camp that this is just the the
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cycle theory playing out, not necessarily Coinbase doing
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anything in particular, but I am not against Coinbase doing that.
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Like I don't trust Coinbase. I've been saying that the leak
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Coinbase hashtag for a long time.
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No one should be using Coinbase as far as I'm concerned, even
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though Coinbase does have the biggest market share, they're
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they're basically the biggest exchange in the world right now.
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They they have all of the mindshare for most people.
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When most people think of Bitcoin, they think of into
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Coinbase, which I think a lot of us Bitcoiners are doing our best
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to try to change that. And you know, Brian Armstrong,
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for a long time, for basically as long as I've been in Bitcoin,
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has essentially been acting like an enemy towards Bitcoin, which
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is really dumb considering that his business model is built on
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top of Bitcoin. But they've made a lot of
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mistakes. And so I do find it very
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interesting that BlackRock did pressure Coinbase because
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they're probably seeing what we're seeing.
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And again, giving them the benefit of the doubt, which I
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know you're going to throw tomatoes because it's BlackRock
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and Wall Street's going to play Wall Street games.
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Go ahead. Yeah, well, not you necessarily,
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but people in the chat like, we shouldn't be trusting BlackRock,
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which is why we want to see these addresses and see that
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they actually hold that Bitcoin. But again, I think the with the
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weak person, the weak link in the chain is Coinbase.
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And so the fact that they're getting pressure from BlackRock
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to ensure that they're receiving this Bitcoin that they are, you
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know, trying to buy, I, I think this is all healthy and good for
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the whole industry at large. And of course, we would love to
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see these on chain addresses and see that they actually have all
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of that Bitcoin. But hey, they should.
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They should. There's no excuse at this point.
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If Fidelity bitwise, El Salvador are doing it, show like the
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proof is in the pudding. You can make those addresses
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public and you could show proof of reserves.
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River Financial just released the whole thing about how
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they're showing proof of reserves.
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You don't have to trust them. They will show that they
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actually have the Bitcoin that they say they do, right?
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So we have the technology. There's absolutely no excuse.
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Now, I'll tell you something about Twitter guys.
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Usually when you tweet something, the reason that it
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goes somewhat viral, the reason it gets so much attention is
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because you struck a chord, right?
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And I said this on September 26th.
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I said, is it just me or does it feel like Coinbase is the
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Bitcoin price circuit breaker for the US government 1700
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people like that tweet. So I, I, I'm telling you, Opti,
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I, I, I don't know for sure. We don't know for sure, but
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there's a lot of coincidences here.
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Coincidence. Number one, they amended the
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agreement between BlackRock and Coinbase.
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The Bitcoin price pumped coincidence #2 every cyber,
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every single time coined the Bitcoin price pumps Coinbase
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goes down. That's a lot of coincidences.
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Coincidence #3 Coinbase announced 2 weeks ago that they
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were going to release wrapped Bitcoin like all of this was
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happening. So I just got to say like,
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that's a lot of coincidence, ladies and gentlemen.
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So I think Larry Fink's got to get his act together and.
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Well, well, I think Brian Armstrong needs to get his act
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together, but correct. Let's let's yeah, I think that's
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a clarification here. Someone asked what Wall Street
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games are you referring to? Elaborate.
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We're we're talking about re hypothecation.
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You, you you've been saying in the chat, everyone knows this,
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you know, when the gold ETF was launched, they issue a lot of
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paper Bitcoin. That's how they can suppress the
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gold price. We've seen this play out
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constantly throughout throughout the, you know, the traditional
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commodities market and I think we are seeing this play out in
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Bitcoin. They're going to obviously try
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to do this, but again, the the little the little red herring in
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that problem is that Bitcoin is designed to take it into
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custody. So at a certain point, I think
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their bluff is going to be called and things are we're
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going to see a lot of fireworks, but obviously I think it's just
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still a little early. This is my whole thing.
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I think it's still a little early in the game for this to
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happen. If they really want to pull the
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mega rug pull, then they want this product to do really good
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and then eventually they arrive pool and they re hypothecate.
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So I think it's just still a little early in the game, but
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there is a lot of coincidences and the the weak link here is
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Coinbase. None of us trust Coinbase.
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If you've been in Bitcoin long enough, you shouldn't be using
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Coinbase. You don't trust Coinbase.
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Yes, this might be your first touch point to Bitcoin is
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through Coinbase, but anyone in the know is basically like do
14:16
not use Coinbase. They've been bad actors for a
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long time. This is why we constantly push
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Bitcoin only exchanges. This is why we love Bitcoin.
14:24
Well, it's because they never hold your Bitcoin and they're,
14:27
they're real bitcoiners. They, they don't pump shit coins
14:29
and Coinbase historically for the last what, 7-8 years is just
14:34
a shit coin casino in all of its glory and they're playing all
14:37
those shit coin games. And This is why we don't trust
14:40
Coinbase. This is why we say hashtag
14:42
delete Coinbase. 100 percent, 100% re hypothecation, ladies
14:46
and gentlemen. That is essentially when a
14:49
platform in exchange is selling Bitcoin they don't have, so they
14:53
sell paper Bitcoin on the exchange UI.
14:56
You'll see that you're buying Bitcoin.
14:58
But if everyone, if everyone were to withdraw at the same
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time, they wouldn't have enough Bitcoin to honor those
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withdrawals. So that's the danger of re
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hypothecation that was possible with gold because of its
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physical characteristics. With Bitcoin, there's no excuse,
15:15
right? It's an open Ledger.
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Anyone could see that an address has a certain amount of Bitcoin
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and you could also take self custody of that Bitcoin in a
15:22
very effective and efficient and cheap manner.
15:25
Anyways, anyway, Nico, And let's not forget the whole FTX debacle
15:30
that we're barely getting out of.
15:31
That's exactly what they do. TX Mount Gox right?
15:34
Like it's happened time and time again guys, don't trust a third
15:38
party with your money when you can trust yourself.
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Bitcoin price is 62,030, Stats per Dollar 1612, Block Height
18:58
863,672, Realized Monetary inflation 1.33%.
19:05
The market cap of Bitcoin is sitting at one point 2-3
19:08
trillion. Bitcoin versus Gold market cap
19:11
6.71%. Total amount of Bitcoin is
19:15
19,761,258 BTC percentage issued is 94.1%.
19:23
And the grand scheme of things, we're just getting started.
19:25
And I love this number right here.
19:27
The realized monetary inflation, continuing to take Fiat
19:30
currencies to absolute school. Even if they get it back to 2%,
19:34
Bitcoin still has a better inflation rate, which by the
19:37
way, is literally destined to go down forever.
19:40
This will get cut in half four years from now and then for from
19:44
years for there, it's going to cut in half again.
19:46
And that's why it's going up forever, Laura.
19:48
Anyways, I love this tweet by Max Keiser talking about Larry
19:52
Fink and I'm really glad that Opti corrected me in the in the
19:57
beginning because the ones that we should be skeptical of is.
20:05
We, Larry Fink, has actually been doing an incredible job and
20:10
I love what Max Keiser says here.
20:12
Employee of the Month, Larry Fink.
20:14
That's right, everybody, anyone who holds Bitcoin and you talk
20:19
about Bitcoin, especially if you're an influential figure,
20:22
you have a massive following. They're working for you.
20:26
The Bitcoin miners are working for you.
20:28
The node runners are working for you.
20:30
Simply, Bitcoin is working for you.
20:33
Larry Fink is working for you. Michael Saylor is working for
20:37
you. Because they're telling the
20:40
Satoshi gospel, They're telling people about Bitcoin.
20:43
They have huge followings, which of course is going to get more
20:46
people to opt out of the dollar can get into Bitcoin.
20:50
So let's take out let's check out this latest clip by the
20:53
employee of the month, according to Max Keiser, the CEO and
20:57
chairman of BlackRock, Larry Fink.
20:58
Let's check out this interview on legacy financial media,
21:01
CNNBC. Let's check it out.
21:03
It's. The first time we've had an
21:04
opportunity to talk to you about it, which is Bitcoin, the
21:06
Bitcoin ETF. We're going to be talking to
21:09
Gary Gensler, the chair of the SEC, who made that decision
21:12
reluctantly, maybe even begrudgingly, which was
21:15
announced just two days ago when we talked a lot about yesterday
21:18
on the broadcast. How big a deal is that for
21:21
BlackRock? And this was for you, a big
21:23
switch as well, because you were a naysayer for a very, very long
21:26
time. Yeah, I probably switched for
21:28
the first three years of thinking about.
21:30
I was a naysayer. And about two years ago, I
21:32
switched and I'm, I'm actually, you know, as I said in the last
21:35
two years, I'm a big believer. Are you a believer personally?
21:38
Meaning it's the Fink family A a Bitcoin buyer or a buyer of this
21:43
new E well. Now I could do that.
21:45
I cannot. You know, I don't.
21:46
I don't want to compete with our clients.
21:48
So I don't buy single assets, I'll buy mutual funds, I'll buy
21:51
single ETF. So I have an opportunity to do
21:54
that now. But I'm a believer in it because
21:57
I do believe it is an alternative source for wealth
22:02
holding. I don't believe it's ever going
22:03
to be a currency. I believe it's an asset class.
22:07
You don't believe it ever becomes a currency?
22:08
No, I think we were going to create digital currencies.
22:11
We're going to use the technology for it.
22:12
We're going to use the blockchain.
22:15
How important is that though to then the long term value
22:18
proposition? Of Bitcoin.
22:19
Of Bitcoin if, if it's not something that ultimately
22:21
becomes a currency, if it's, if it's, if it's simply, we'll call
22:23
it digital gold, it's an asset of some sort.
22:26
What does that mean? It means.
22:28
In terms of price? I believe, you know, I believe
22:31
it goes up as if the world is more frightened if people who
22:34
have fearful of geopolitical risk, they're fearful of their
22:38
own risk. It's no different than what gold
22:41
represented over thousands of years.
22:43
It is a, it is a, it is a asset class that that protects you.
22:49
And, and unlike gold where we manufacture new gold, we're
22:52
almost at the ceiling of the most of the amount of.
22:56
So I mean, again, like he goes from, you know, being
23:01
essentially a a non believer to a believer.
23:06
This is bitcoins incentives. That interview was the first
23:09
interview after the ETF got approved.
23:11
And you just hear the humility in Larry Fink's voice, right,
23:17
basically saying like I was wrong.
23:19
This is this is the best asset. The part where I disagree with
23:23
him on, which is where he's like, I don't believe it's going
23:25
to be money. Well, it's already been used as
23:27
money. And again, it's not a single
23:30
individual or central bank or a government that determines what
23:33
money is. It's actually people on the
23:35
ground choosing to to to transact and choosing what
23:40
medium of exchange they they want to use as much as
23:43
governments and central banks don't want to hear that, but
23:46
that's the truth for the vast majority of the world, even with
23:49
legal tender laws, like a legal tender law doesn't really work
23:53
when your country's suffering through double digit inflation.
23:56
People just don't listen anymore because it's a matter of being
24:00
able to provide for your family. Now, he did something, he did
24:03
say something else as well. And he said that Bitcoin
24:06
performs when people are a little bit worried about the
24:11
traditional markets and especially with all the
24:14
geopolitical events happening these days, whether it's to
24:16
strike that's happening at, you know, all the docks that in the,
24:21
in the South SE southeastern United States or the situation
24:26
that's happening in the Middle East, right.
24:30
As the BlackRock report proved, I think it was a, it was a
24:34
couple weeks ago or so. Bitcoin pumps despite all of
24:39
those things, right? Bitcoin is the safe, the safe
24:43
haven asset. To use Larry Fink's own words,
24:46
Bitcoin is the flight to quality.
24:49
Bitcoin is the thing that people flee to when they lose
24:56
confidence in the traditional system.
24:59
So yes, I agree with Max Keiser. Larry Fink, congratulations,
25:03
Employee of the month for Bitcoin.
25:06
Hopefully, Opti, we get that one day simply is big enough for
25:10
where we get the employee of the month from Max Keiser for
25:14
Bitcoin because yeah, man. But this is crazy.
25:17
This year has been historic. You had Trump, you have Sailor.
25:21
Of course he's been absolutely crushing it.
25:23
And of course, you have Larry Fink, you know, dropping the hot
25:26
fire. I mean, dude, we were like, we
25:31
weren't exactly fans of Larry Fink a couple years ago when he
25:35
was saying that Bitcoin was an index of money laundering and he
25:39
was pushing the whole ESG stuff. Isn't it I another coincidence?
25:43
It's just a coincidence, Opti. Isn't it absolutely hilarious
25:47
how they dropped the ESG stuff as soon as they started
25:52
promoting the Bitcoin ETF? You know, it's almost as if
25:55
Bitcoin fixes things. I don't know, what do you think?
25:58
Yeah, well, first on that last point, it really does feel like
26:00
the pendulum swinging away from a lot of this garbage that we
26:04
see coming out from the institution.
26:06
Then they're realizing that they can't be so detached from
26:09
reality because, you know, reality when when we're that
26:12
detached from reality, it smacks back to reality and things get
26:16
even worse. And so we're seeing that once
26:18
they once Larry Finker rather BlackRock embrace Bitcoin.
26:21
Now the floodgates are opening up.
26:23
Bitcoin is a mature asset and people are waking up to the fact
26:29
that they might need some Bitcoin in their portfolio.
26:31
So I really do like the take of, you know, Larry Fink being the
26:35
employee of the month. Not only is it kind of hilarious
26:38
and it really flipped everything on its head because a lot of
26:42
people in popular culture do have this idea that the, you
26:45
know, the billionaire elite class and, and I don't think
26:47
they're wrong, are basically siphoning off purchasing power
26:52
from, from the population. And that, you know, the whole
26:54
like tax the rich stuff. And they're evil.
26:56
And all they care about is, is profits.
26:58
And they're greedy until you get on the Bitcoin standard.
27:01
And again, I, I think I've been quoting this Satoshi quote like
27:05
a lot the last couple of weeks where you're incentivized to
27:08
work with the Bitcoin network and that's how you profit.
27:11
And now finally, it's the, the incentives are to be a better
27:14
person and to not just rob and steal the coffers as we see in
27:18
the Fiat system. So, yeah, I also technically
27:22
believe that Larry Fink is is the best employee we've had in a
27:25
long time. You know, it was sailor for a
27:26
little bit. Now we got Larry Fink and all of
27:29
his BlackRock minions shilling Bitcoin.
27:32
Next we'll get Jamie Dimon and and all of them shilling
27:35
Bitcoin. And you know, soon enough we'll
27:37
get the politicians all on board.
27:39
Maybe one day we can call Elizabeth Warren employee of the
27:42
month as well. But it is very interesting that
27:46
once the tide does start shifting, it's like a waterfall
27:51
moment, a watershed moment, and people are going to start to
27:55
FOMO and go all in and ape into Bitcoin.
27:59
And I think we're going to start seeing that happen at the very
28:02
end of this year and remember what the point of money is.
28:05
And I constantly say this, it's just basic economics, at least
28:08
in Austrian economic terms, the point of money is to hedge
28:12
against uncertainty. And now we have the best money
28:14
in the world. And if you're looking out in the
28:16
world, there's a lot of uncertainty going on right now.
28:19
And people are dropping treasuries, which have
28:22
historically been the risk off asset for a long time.
28:25
They're looking for alternatives, gold hitting all
28:28
time highs as well. So you're seeing that people are
28:30
starting to go towards the quote UN quote hard money assets out
28:34
there in the world because there is a lot of uncertainty and
28:38
anyone that knows anything about the economy knows that you can't
28:41
be saving in dollars and you're constantly losing value in
28:44
dollars. So smart money goes towards the
28:47
assets and the smartest money in the room is eventually and soon
28:50
enough going into Bitcoin as we're seeing this play out.
28:53
And so it's really funny that all of us 80 IQ 65 IQ plebs out
28:58
here have front ran Wall Street. We front ran all of the world.
29:02
And it's only a matter of time until they catch up to the game
29:05
actually being played, which is Pac-Man with Bitcoin.
29:08
It's Hungry Hippo with Bitcoin. Accumulation of Bitcoin is the
29:12
name of the game. And now we're seeing that even
29:14
BlackRock out here, you know, Larry Fink is pressuring Brian
29:18
Armstrong about actually having all this Bitcoin.
29:21
So now we're all incentivized to learn about self custody, to
29:24
take custody of Bitcoin, to realize that, hey, maybe
29:27
rehypothecation and and fractional reserve banking isn't
29:30
the way forward. And maybe that's the reason why
29:33
we're in the position we're in right now.
29:34
But hey, the signal's going to take a little while for everyone
29:37
to wake up to this, and This is why we have such a good
29:39
opportunity to be stacking Bitcoin at this moment.
29:42
So you might want to get some just in case it catches on.
29:44
Yeah, you might want to get some Bitcoin just in case it catches
29:47
on or you're stuck with. All right, everybody, let's get
29:55
some news. Lots to talk about.
29:56
Let's check it out. Here we go.
29:57
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Send the simply Bitcoin handle Adm All right, everybody, I do
32:35
want to read this Noster post. By the way, Noster is popping.
32:40
I highly suggest it. I I'm not as radical as Odell I
32:45
I still find a lot of signal on Twitter, but there's a lot of
32:51
signal on auster that is happening as well.
32:55
So I just, I, I kind of want to set the tone of today's news
32:59
segment news block with this message from Jeff Booth.
33:05
He says free markets are more productive because ideas compete
33:08
to provide value to you. A global free market equals
33:12
faster deflation with every person in the world becoming
33:15
wealthier as the productivity, productivity gains flow to them
33:19
in the form of lower prices. But that comes at a direct cost
33:23
to those extracting value from the world through a control
33:26
system that gains its power by stealing ours, our world, and
33:31
each of us. And it makes perfect sense.
33:34
Just a mirror reflection of two different operating systems with
33:38
the system you give your energy to reinforcing your reality.
33:43
The one based on corrosion control and scarcity and
33:46
extractive model praying on fear while the majority make it
33:50
stronger in their minds by their actions within it.
33:54
Or the 1 based on truth, hope, abundance.
33:58
A cooperative model where we see that we are all connected.
34:03
Bitcoin and freedom tech choose wisely, 100%.
34:09
And what Jeff Booth is describing is the difference
34:12
between the two systems, the Fiat system, which I equate to
34:18
slavery, and the Bitcoin system, which I equate to freedom.
34:24
And we have a choice, ladies and gentlemen, and it doesn't
34:27
require an election. It requires personal
34:30
responsibility on your end to opt out of their system entirely
34:35
and opt into Bitcoin by taking Bitcoin into self custody.
34:41
The ads that we show on simply Bitcoin literally are ads of
34:45
companies that allow you to take self custody of your Bitcoin
34:49
like the stamp seed, like the passport foundation wallet, like
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bitcoinwell.com automatic self custody Bitcoin on wrap like we
34:58
put we choose our partners on purpose so that you could become
35:02
a sovereign individual even while you're watching, you know,
35:05
the our partners. So guys, there's no excuse.
35:10
What world do you want to participate in?
35:13
Do you want to participate in the world of usury, Fiat,
35:16
slavery, nihilism, endless wars? Or do you want to participate in
35:21
a system of peace, prosperity, opportunity, and hope for all
35:25
and the choices in your hands? Because all it requires from you
35:28
as an individual is to buy Bitcoin, earn Bitcoin, mine
35:31
Bitcoin, and take that Bitcoin into self custody.
35:34
And that's it. We win.
35:36
If enough people do it, we win. Now let's compare and contrast
35:40
with the other system and let's kind of work in current events
35:44
into this. So again, you guys know the
35:47
deal. That's simply Bitcoin.
35:49
We don't lean left or right in the traditional sense.
35:52
Liberal versus conservative. Opti's not wearing the shirt
35:55
today. The one that says liberal,
35:58
conservative, libertarian, and then the one that's not checked
36:02
off is the Bitcoiners. We're Bitcoiners.
36:04
So we are single issue voters. We support candidates that
36:08
support Bitcoin. We don't support candidates that
36:11
are anti Bitcoin. That's the way that we look at
36:13
the world. So I just want to preface that
36:16
before we play this video because I am going to kind of
36:19
criticize what the video is saying.
36:21
So let's put the political rhetoric aside and like the
36:24
video down. This is President Joe Biden
36:28
reacting to the hurricane. So let's check it out.
36:32
We have rivers that are still rising.
36:35
The danger is still. Occurring for a lot of.
36:38
People. And by the way, as, as the FEMA
36:42
can tell you, they have prepositioned an awful lot of
36:44
material, an awful lot of material throughout that area
36:47
from the bend all the way up into Tennessee.
36:50
And so the idea that we weren't prepared, the question is no one
36:53
knew exactly how devastating it'd be.
36:55
We knew it'd be significant. And we've got a lot already in
36:58
place. But there's more.
36:59
But here's the point. I'm going to be asking the
37:01
American people to continue to help fund the needs of these
37:05
people. It's not going to be one hit and
37:07
it's over. It's going to take a hell of a
37:09
long time. It's going to cost a hell of a
37:11
lot of money, but this is United States of America.
37:14
We've got to do it. So I want to focus on that last
37:18
part because personally I found that insulting.
37:22
Not only do you have to pay property tax, not only do you
37:25
have to pay income tax, not only do you have to pay the inflation
37:29
tax. Here you have the president of
37:32
the United States saying we need your help to fund the recovery
37:38
of Hurricane Helen in the different states that were
37:41
impacted. The problem, the reason that I'm
37:44
calling bullshit to this is we sent $175 billion to Ukraine.
37:54
We sent billions of dollars to fund the war in the Middle East.
38:00
Like I, I don't like, OK, hold on a second.
38:03
So you elect a president and that president is basically like
38:09
the CEO of your of your country, right?
38:14
Why is he sending money to other countries?
38:18
And then when it comes to helping his own country, he's
38:22
asking for even more money from you.
38:25
That makes no sense at all whatsoever.
38:29
And this is what Jeff Booth was talking about in that post.
38:36
The reason that they're sending all this money overseas is
38:40
because they're profiting off of it.
38:43
It's not really profitable to just send billions of dollars to
38:46
actually help people in, in these, in these states that were
38:51
impacted by the hurricane. I, I, I saw that and my, my jaw
38:56
dropped. I was like, holy shit, like that
38:58
did, did he just ask me for more, more money?
39:01
And again, one of the some of the rhetoric that you hear is
39:05
basically like tax the rich. What was the other one like?
39:09
You know, everyone's going to pay their fair share.
39:12
We're going to raise the unrealized gains tax to 25%.
39:18
Basically, you haven't made any money on that trade.
39:21
And they still want to tax some of it, right?
39:24
It's never happened before. And at the same time, while
39:29
they're sending hundreds of billions of dollars to foreign
39:32
countries, he has the audacity to go on TV and basically say,
39:37
hey, guys, we need you to play your part and help fund the
39:42
recovery of these states. Like, that's gnarly.
39:45
That's pretty freaking crazy if you ask me.
39:47
Now let's look at some of the data because that could be my
39:50
opinion. And you know, like an opinion is
39:53
an opinion. But let's, let's look some of
39:56
the data, and this is actually data that comes from, I believe,
40:00
Yep, this comes from U.S. government websites.
40:03
So it tells you how much money has the US government spent this
40:08
year? It's $6.2 trillion, just to kind
40:12
of give you an idea of how much money that is.
40:15
That is more significantly more than the GDP of most countries
40:21
around the world. The problem is.
40:26
Is this the federal government spends money on a variety of
40:29
goods, programs and services to support the American public.
40:34
OK, so support the American public.
40:39
I just heard the the president basically say no, no, no, you,
40:42
you got to pay. Help us pay for this hurricane
40:45
relief and pay interest incurring from borrowing.
40:49
In fiscal year 2023, the government spent 6.13 trillion
40:56
which was more than it collected in tax revenue, resulting in a
41:00
in a deficit. So let's take a look at that.
41:04
How much revenue has the US government collected?
41:07
4.3 trillion. So the US government spent a
41:14
couple trillion more than it collected in tax revenue.
41:20
How did it do that? It printed the difference.
41:23
The thing is that printing isn't free.
41:25
Printing debases the currency. And if you're in the lower and
41:30
middle classes, you don't have the means to save in assets.
41:32
You're living paycheck to paycheck.
41:35
So the money that you're earning and the money that you're
41:38
saving, if you're saving in Fiat, is constantly being
41:41
debased. And then you get lectured by the
41:48
president who just sent hundreds of billions of dollars to
41:51
foreign countries about helping, but you helping as an individual
41:57
after inflation tax, after property tax, after income tax
42:02
to help pay for what's happening in the states that were affected
42:06
with by the current hurricane. This is Fiat.
42:10
This is what Jeff Booth is talking about.
42:12
This is the system of control that he's talking about in that
42:15
nostril post. This is absolutely freaking
42:19
ridiculous. And this is the problem that
42:22
Bitcoin fixes and it doesn't fix it via an election.
42:27
It fixes it via enough of the population taking personal
42:32
responsibility and choosing opt choosing to opt out of that
42:37
system entirely. That enriches the government and
42:41
enriches the very, very wealthy that do have the means to save
42:44
in assets while everybody else, lower and middle classes, you
42:49
get poorer. And of course, nihilism comes
42:52
with that. Poverty comes with that.
42:54
And again, what Jeff Booth was referring to, one of the
42:58
mechanisms that governments use when they start to get into a
43:02
pickle, when the deficit gets too crazy, is that they get into
43:06
a war because wars distract people, right?
43:10
And I'm going to show you a meme that I showed you yesterday,
43:12
guys. And I'm just going to change the
43:14
wording because I still think it applies.
43:17
And of course, it's the famous scene from Neo waking up from
43:20
the Matrix, right? He took the red pill.
43:23
But we're going to change the wording a little bit.
43:26
Neo takes the orange pill and wakes up to find he and the rest
43:30
of humankind are being used as tax cattle by their governments.
43:37
But as the book The Sovereign Individual has said, now the tax
43:42
cattle have gotten wings and the wings was provided to them by
43:47
the Internet and by Bitcoin. So yeah, man, this is crazy.
43:51
Separate money from state. This is nuts.
43:56
We trusted them with money. We trusted the government with
43:59
money, and they abused that trust to benefit themselves and
44:04
to spend a ridiculous amount of money on things that aren't
44:09
going to improve your life as an American.
44:12
The thing is, we no longer have to trust them.
44:16
We no longer have to rely on them for our financial security.
44:20
We can opt out and we can say, you know what, I don't want to
44:24
participate anymore, which is the piece that Jeff Booth is
44:28
emphasizing. I'm going to opt out into a
44:31
money that they can't debase and it's going to be very difficult
44:35
for them to confiscate on a mass scale.
44:37
And that money is Bitcoin. The American Dream isn't dead.
44:41
The American Dream is thriving. It's alive, but it's only alive
44:46
if you've been living on a Bitcoin standard.
44:49
If you've been living on a Fiat standard, the American Dream is
44:52
gone. It's been gone for a very, very,
44:54
very long time. And I love that comment that was
44:57
pulled up. That's not Neo waking up, that's
45:00
Opti. I agree.
45:01
I pulled Opti out of the Matrix. Cap Big cap.
45:06
But anyways, guys, Opti, what are what are your thoughts on
45:09
this, bro? That Jeff Booth piece that that
45:12
really that really packed a punch Man, that really struck a
45:16
chord. How like you basically have an
45:18
option here and the matrix again, it just it's so fitting
45:23
the movie, right? It's like, do you want the blue
45:25
pill? Let's change the color of the
45:27
pills, right? It's like, do you want the green
45:29
pill Here, Let me say it. Do you want the green pill or do
45:33
you want the orange pill, Right. Like that, That's it like that.
45:37
That's the choice that you want. Like you go and take the green
45:40
pill and you get poor, you get roped into politics.
45:45
You have to listen to what these like.
45:48
I don't, I don't want to be mean, but about what these
45:50
geriatrics are saying on TV, you have to take them seriously or
45:55
you opt out and it doesn't matter.
45:57
It doesn't matter your, your wealth is protected from
46:01
monetary debasement and your life will get progressively
46:06
cheaper over time. So I don't know man.
46:10
I think, I think the choice is very simple for me, but maybe
46:15
maybe it's it's it's not simple for everyone.
46:18
Opti yeah, I mean, first of all on on that Jeff Booth comment of
46:24
can you pull it up again, Nico? Sure.
46:25
Yeah, just. Just so we can rehash the like
46:28
the first sentence, maybe the 1st 2 sentences.
46:33
Oh, oh, free markets are more productive because more ideas
46:37
compete to provide value to you. This is where we are right now
46:41
and this is what we're seeing play out.
46:42
And, and this is like the main point that that I kind of want
46:45
to get across is we're seeing right now, and I've been saying
46:48
this for a while, we've seen what is going on in Washington
46:53
DC Nico calls them the administrative state.
46:55
I don't know if I can call them what I usually call them on the
46:58
show. Can I say it?
47:00
Can I say Nico? Are we out of the gulags enough?
47:03
No, no, no. The parasite class.
47:05
Unproductive class. Whatever you want to say,
47:08
Productive class. That's a nicer way of saying no.
47:10
But let's back it up. Let's discuss.
47:12
Let's discuss why we're saying that, right?
47:14
Like, let's discuss why. OK, so the government doesn't
47:19
generate revenue. Like it's not like me and Opti,
47:23
I have literally I have to make payroll every month, right?
47:27
You generate revenue. If you're a business owner in
47:29
the United States, you generate revenue.
47:31
That's how you pay your employees.
47:33
That's how you keep the lights on, right?
47:35
You, you, you produce value. You make value, right?
47:40
If you are a passport, right? You make a product, you sell
47:44
that product and you generate value.
47:47
The government doesn't generate value.
47:49
The way that the government raises revenue is through
47:53
taxation. So they take and you're supposed
47:57
you're supposed to get something in return.
48:00
But we just got lectured by the president basically saying,
48:03
guys, even though we are sending hundreds of billions of dollars
48:06
to Ukraine, we can't do that for the states that are within the
48:11
fucking country. We need you guys to pony up more
48:15
than what you guys are already ponying up like it.
48:19
It's completely messed up. And that's why Opti uses the
48:23
description that he does. And I like the the nicer one,
48:27
which is the unproductive class. And and I agree with that
48:31
because it's like, what is it that they do?
48:33
Look, government is supposed to provide law and order, is
48:37
supposed to protect private property rights and is supposed
48:41
to or function like this type of referee in the market so that
48:45
people don't cheat and and like kind of break the law.
48:49
But government is not supposed to be sending hundreds of
48:53
billions of dollars to fund foreign wars of which we get no
48:56
benefit from that over extension of what the original purpose of
49:03
government it is, comes from the central bank.
49:09
It comes from the government's ability to print money.
49:13
And I showed you guys the data. Even with as much as they're
49:18
taxing us, they can't help themselves but to spend more
49:23
than they collects that they collect in tax revenue year
49:27
after year. This is a yearly thing that
49:29
happens and then the deficit continues to grow and then part
49:34
of your tax paying dollars just go to paying the interest on
49:39
that debt alone. And then he has the gall to be
49:43
like, yeah, we need everyone to pitch in.
49:46
This is going to cost a lot of money.
49:47
It's like, bro, didn't you just send 100 and something billion
49:51
dollars to Ukraine? Like why are you asking me for
49:53
this? This is crazy.
49:54
Isn't this your job? Why can't you print money to pay
49:57
for this? Right?
49:59
It's gnarly. Anyways, off.
50:01
I didn't mean to interrupt, you know.
50:04
Hey, we're, we're very much against printing money, but hey,
50:07
if we're going to print money, hopefully print money for, for
50:10
our country. That might that might be a
50:13
better idea normally. Bro it's crazy.
50:15
Yeah, Yeah. No.
50:16
And then so like jumping off again off that Jeff Booth quote
50:19
about how the free market will solve problems, we have a very
50:23
stark contrast right now with what's going on after this
50:26
hurricane in the US. We have, you know, Biden saying,
50:29
like, you citizens need a pony up after sending billions of
50:33
billions of dollars overseas. We have this Kamala Harris photo
50:37
op where she's like supposedly riding on a piece of paper,
50:41
talking to, you know, people that are helping and then
50:45
unplugged, even plugged into the phone.
50:47
And then on the flip side, what do we see?
50:50
And you guys could Fact Check me.
50:51
Maybe these numbers have changed, but we see Donald Trump
50:54
apparently has donated $25 million of his own money to help
50:58
people in in the hurricane. Elon's going in.
51:01
There Exactly. And then Elon is going in there
51:04
with Starlink so that people have, you know, access to
51:07
communicating around the world. So like this is what we mean by
51:11
the free market. So it's like, what?
51:13
What is the point? That's this.
51:14
Is what I'm trying to. This is what we're.
51:15
Trying to get to you guys, like what is the point?
51:17
Like, OK, you're supposed to pay taxes and you get something in
51:22
return. Like that's the thing.
51:23
Like that's the reason as to why you get you pay taxes, right?
51:27
You're paying taxes and they're still telling you you actually
51:32
need to pay more. Now we don't have enough.
51:36
Like, So what did you do with all of it?
51:38
Right? Like it's, it's pretty nuts,
51:40
dude. It's pretty nuts.
51:42
Look, guys, the government, there's a social agreement.
51:47
We were essentially like the country was duped back in 1913.
51:51
They convinced people of the income tax in the central bank.
51:56
They started with like 1 to 3% income tax rates.
52:00
Then it moved all the way to like 90% in World War 2.
52:03
Now it's back down to I think the top tax brackets like 39
52:06
percent or something. But the point is, is that that
52:10
was agreed upon. But the reason that was agreed
52:12
upon was that you were going to get something in return for
52:15
those taxes. And the question that I have for
52:19
you guys, because I don't think people would have a problem
52:22
paying taxes. And I'm, when I talk about
52:25
taxes, I'm talking about income tax and inflation tax.
52:30
I think the problem is that people feel like they're paying
52:33
taxes, but they're not getting anything in return.
52:37
I think that's the fundamental problem.
52:39
I don't think people would have a problem with it so much.
52:42
I don't think it would be such a a hot button issue.
52:46
The problem comes when the government is sending hundreds
52:50
of billions of dollars to foreign countries, but then they
52:54
can't even take care of their own country.
52:56
That that's what it boils down to, right?
52:58
So anyways, Opti, I don't know if you want to add something
53:02
more to this Jeff Booth piece. Just hold on, hold on just that.
53:09
We say it all the time and you and you already said it and we
53:12
don't, we don't need to pull up the Jeff Booth piece again, but
53:15
it is orange, ribs green. And we are seeing that the the
53:21
death cult of Fiat currencies is the perpetuation of war and
53:27
nihilism and pessimism. And This is why wars are
53:30
continually funded. What's the Ron Paul quote?
53:33
It's no coincidence that the last 100 years is the is the
53:37
last. You know, the century of war is
53:39
because they'll print obscene amount of money to continue to
53:41
go to war. Well, This is why the opposite
53:44
and the stark contrast of Bitcoin is so important to
53:47
continue to highlight in the face of all this crazy stuff
53:49
right now. Because they can't print more
53:52
Bitcoin and they have to actively either on the one hand,
53:57
force you to give up that Bitcoin or incentivize you to
54:00
give up that Bitcoin. And if no one agrees with going
54:03
to war, then where are they going to get all this money
54:06
where they're going to raise this money to, you know, fund
54:08
all of this stuff that no one agrees with.
54:10
No one's going to give up their Bitcoin for this stuff.
54:13
So you need to opt out of the Fiat system.
54:16
You need to save in Bitcoin. You need to take that Bitcoin
54:18
into custody because it's a very, very clear contrast going
54:23
on right now. There is the Green Party, which
54:26
is the party of Fiat, which is the party of war and
54:29
destruction. And then there's the Orange
54:31
Party, where it's the party of cooperation, of mutual agreement
54:36
on what we want to do in the world.
54:38
And they can't steal your value from you.
54:40
This is why we Bitcoin, this is the main point of Bitcoin, and
54:44
This is why we always say that the biggest problem in the world
54:47
is central bankers out there, because they are creating money
54:50
out of thin air. They're making us all poorer.
54:52
They're throwing money at stuff none of us agree with, and yet
54:55
they're so detached from. And they're basically pushing us
54:58
all down as little, you know, the little guys here.
55:00
And they're like, shut up, peasant.
55:02
Do what you do. Do you have no say here?
55:04
And This is why we're taking our power back.
55:07
And it all starts with the money, with your wealth.
55:10
It's like, hey, man, we do need political power, but we also
55:13
need to have some financial power here.
55:15
And This is why you need to protect yourself saving Bitcoin.
55:18
And you know, soon enough, it might be a decade's fight, but
55:23
we will minimize their power to continue to go on this way. 100%
55:27
and I got again again guys, this is a peaceful protest.
55:30
I can't emphasize that enough. All you got to do to partake,
55:34
buy Bitcoin, earn Bitcoin, mine Bitcoin, take that Bitcoin into
55:38
self custody. That's it You're part of the
55:40
revolution. If enough of us do it, we will
55:43
effectuate change in a in a very, very, very big way and we
55:47
will separate money from state because I don't think the state
55:49
deserves to have the ability to create money for free that the
55:54
rest of us have to work for. They've broken that trust.
55:57
We've given them that trust. They've broken that trust to
56:01
benefit themselves at the expense of everybody else.
56:04
I don't forget what happened in 2008.
56:07
No significant banker went to jail for what happened in 2008.
56:11
Where Main St. Bailed out Wall Street and
56:15
that's what Bitcoin is all about All right everybody, let's hit
56:17
the culture lots to talk about today.
56:19
I don't even know what opti's going to cover so I'm excited.
56:21
Let's check it out All right everybody, I do want
56:34
to give a shout out to our sponsor, the orange pull up
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event. It's also has a really clever
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app and also has a really cool geographical feature.
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57:02
your city for a while. You don't know any bitcoiners
57:04
around you. You pull up the orange pill app
57:07
and it will literally allow you to send messages to bitcoiners
57:11
that are near you and it'll allow you to connect with them.
57:14
It's probably a good idea to build up that Bitcoiner Rolodex.
57:17
I truly believe that bitcoiners are going to be some of the most
57:19
powerful influential people over the next 5 to 10 years to get
57:23
started like I said scan the QR code check the link in the video
57:26
description also one of the best ways to reach me the orange pill
57:29
app don't send me random Twitter DMS. Don't e-mail me randomly
57:33
send me a message on the orange pill.
57:35
App and I make sure to to get back to every single one of you
57:38
guys every week or so anyways, Opti we didn't even talk about
57:41
this bro. What's on the culture today?
57:46
Yeah. So, well, I'm going to connect a
57:48
few different things. First of all, we're not going to
57:52
be entering into Opti's TA class, but I do want to mention
57:56
that we just had the best ever price performance in September
58:00
in all of the history of Bitcoin.
58:02
And it's very interesting, if you do look at this chart, every
58:05
time Bitcoin pumps in September, it seems to pump in October,
58:08
November and December. We don't have, you know, a bunch
58:11
of data points here. But even though it kind of
58:14
dumped today on the first day of October, I think October is
58:17
still in playing eyes. So I think October is going to
58:21
be in play. But there is a, you know, a good
58:23
tweeting that I kind of like. The biggest problem with October
58:27
is everyone tweeting about October.
58:29
So we'll see how this plays out. But I think what is really
58:33
interesting going on right now is this whole strike going going
58:36
on. So I do want to play the
58:37
beginning of Rustons video yesterday because I think he
58:40
absolutely killed it. And go watch the rest of this
58:42
video on our YouTube. Ruston will connect the dots for
58:45
you. But I really like this beginning
58:47
because it really hits on something that we talk about
58:49
constantly on the show. They're not making millions no
58:52
more. They're making billions and
58:54
they're spending it fast as they make it.
58:57
I want a piece of that from my men.
58:58
Biden administration officials are urging the dock Workers
59:01
Union and the shipping industry to return to the negotiating
59:04
table ahead of a looming strike. These people today don't know
59:07
what a strike is when my men hit the streets.
59:10
A man to Texas. Every single port for lockdown.
59:13
Those crucial hubs responsible for nearly 35% of all US imports
59:17
and exports. Everything in the United States
59:20
comes on a ship. They go out of business.
59:23
Guys who sell cars can't sell cars because the cars ain't
59:26
coming in off the ships. Malls start closing.
59:28
Bound construction workers get laid off because the materials
59:32
aren't coming in. They're going to be like this.
59:34
The US Maritime Alliance, representing the shippers and
59:37
ports, says it's committed to negotiating the Biden
59:40
administration, urging both sides to negotiate fairly and
59:43
quickly. They know what they want, and if
59:45
they don't, then I have to go into the street and we have to
59:48
fight for what we rightfully deserve.
59:55
Who's going to win here? In the long run, you're better
59:57
off sitting down and let's get a contract and let's move on with
1:00:01
this world. And in today's world, I'll
1:00:03
cripple you. I will cripple you.
1:00:05
And you I have no idea what that means.
1:00:19
Crazy times we're living in. It looks like we are in the
1:00:22
midst of what we've been calling for a long time, the Fiat
1:00:25
apocalypse. But Marty Bett pointed out
1:00:27
something very interesting here. And if you watch the original
1:00:30
interview, you'll you'll get more of a grasp of this.
1:00:33
But Marty goes pay attention to the framing by the longshoremen
1:00:36
union. The common man knows the
1:00:38
government is printing money and giving it to cronies.
1:00:40
The port workers will strike until they get some of the
1:00:42
printer proceeds. If they are successful, expect
1:00:45
this to be replicated by others. Well, isn't it?
1:00:48
We just, we literally, we just hit it.
1:00:50
Are we In Sync again? We're In Sync.
1:00:53
We just hit. It well guys, the strike is
1:00:56
happening right now. It's the first day we're going
1:00:59
to see what's going to happen after this.
1:01:01
We'll see how long it goes, you know, but the TLDR is
1:01:05
essentially the strikers, the longshoremen are striking for
1:01:11
wage raises and to fight against automation so that they have job
1:01:15
security. So it's happening now.
1:01:17
We're going to see what the impact is, but there it really
1:01:19
is, a lot of signal showing to this idea of there's a lot of
1:01:25
problems going on in the Fiat world.
1:01:28
And it all stems from a very simple problem that people are
1:01:32
noticing that the fact that they're printing more money is
1:01:34
making us all poorer. Yes, maybe they, you know, want
1:01:38
to get a little piece of the pie, which Niko and I were just
1:01:40
kind of joking about. It's like, hey, you're going to
1:01:42
print all this money for everyone else.
1:01:44
Why don't you at least print money for us?
1:01:45
Like we're all going to go broke, but at least we get the
1:01:47
money first. Obviously that's jokes, but it's
1:01:51
very interesting when you realize what's going on because
1:01:54
hey, like we remember in 2020 about all the supply chain
1:01:58
nonsense going on. Well, now it looks like we have
1:02:01
another choke point going on and it is the longshoremen.
1:02:04
Remember, the US doesn't really create anything.
1:02:07
We pretty much import everything and the only thing we export is
1:02:11
our debt is our currency and our culture.
1:02:14
And so we're we're really going into some some tumultuous Fiat
1:02:18
times. But a very interesting point
1:02:20
that Ruston didn't put in that video that we were talking about
1:02:23
this morning is here. Let me go back.
1:02:25
They haven't striked since 1917. All right, so the first strike
1:02:29
since 1917. And Ruston didn't put this in
1:02:32
the video. So we're going to add a little
1:02:33
more sauce. If you look at this here's, you
1:02:37
know, 1917 right around here, there was a huge post inflation
1:02:42
bubble. And So what do you think is
1:02:44
going to happen right now? We're probably going to see
1:02:47
something similar, a very high inflation bubble.
1:02:49
And you can see like this is only up to 2021 or 2020.
1:02:53
And we're already dealing with the effects of inflation.
1:02:57
And I did pull this up just just for shits and giggles.
1:03:00
You know, the inflation calculator,
1:03:01
usinflationcalculator.com, we've been saying for a long time that
1:03:05
essentially since 2020 we printed, I remember the numbers
1:03:09
were 40%, but I'm pretty sure by now end of 2024, it's going to
1:03:13
be way higher than 40% of all the dollars that were created.
1:03:16
But very simply, at least based on their numbers, in 2020, if
1:03:21
you purchase an item for $1.00 in 2024, that item would be
1:03:25
$1.22. So we've seen a cumulative
1:03:28
inflation rate of about 21.6%, which is why we're seeing all
1:03:33
these struggles going on, which is why we're seeing so many
1:03:35
people freak out, which is why we're seeing like Bitcoin
1:03:38
Archive is saying gold breaking new all time highs every week is
1:03:41
because people are looking for hard money assets.
1:03:44
Not only that, the whole point of this is just to show you guys
1:03:47
that there is a Fiat apocalypse on the horizon.
1:03:51
There's a perfect storm right now and it all ends up with the
1:03:55
same solution, which we talk about here constantly is more
1:03:58
money printing. So US, Europe and China are
1:04:00
cutting rates. China is in full set mode.
1:04:02
And what do you mean by China is in, we covered this last week
1:04:05
basically, but China's recent economic moves, and I'm using
1:04:09
perplexity dot AI guys, I highly recommend it as like a browser.
1:04:12
It's really good. China's recent economic moves
1:04:14
indicate a shift in strategy, focusing on boosting its
1:04:17
domestic stock market and reducing reliance on the US
1:04:21
dollar. We've been constantly covering
1:04:23
this throughout the year of countries.
1:04:25
Housing sats from BTC sessions. So like whatever, so you've been
1:04:31
seeing all year that countries are moving away from in
1:04:34
Treasuries. They don't want U.S. debt and
1:04:36
things are getting hairy. So and then the Dixie about to
1:04:40
fall under 100 for the second time in two years, the bull run
1:04:43
is loading. So it's all personally to me
1:04:46
just showing that the one solution that we see on the
1:04:50
horizon is they're going to have to continue to print money.
1:04:53
They're going to print it seems amount of money.
1:04:55
If this longshoreman protest strike does last for a long
1:04:59
time, I don't think our economy can handle this.
1:05:02
And so, of course, what are they going to we do.
1:05:04
Not only are we getting rumors that the Fed's going to cut
1:05:07
interest rates by 50 bits again, which means, you know, maybe the
1:05:11
economy isn't doing as well as everyone is saying our economy.
1:05:15
And we've been covering this for a long time.
1:05:16
But what what are we? We're just two Youtubers on the
1:05:18
Internet. It just goes to show that the
1:05:21
economy isn't as strong as they've been saying.
1:05:23
They've been gaslighting us, telling us the economy's strong.
1:05:26
Now we're seeing all these different issues.
1:05:28
We're seeing a perfect storm on the horizon, which is going to
1:05:31
ultimately culminate into more money printer.
1:05:33
So money printer is about to go Burr.
1:05:36
And not only that, Bitcoin is headed into the the bull run leg
1:05:42
of the the cycle. And it's going to, I think it's
1:05:46
going to be a magical explosive end of the year for for Bitcoin.
1:05:51
But on that note, it does seem like we might be getting a lot
1:05:55
of Fiat apocalypse problems playing out all at the same
1:05:58
time. Not only that, we're going to
1:06:00
see some crazy stuff before the elections.
1:06:03
It's election season again. It's just like there's so much
1:06:05
stuff happening in Fiatland that if I wasn't in Bitcoin, I would
1:06:09
probably be losing my mind. But as a Bitcoiner, you're just
1:06:12
like just provide value saving Bitcoin.
1:06:15
Have, you know, some excess cash flows that go into Bitcoin?
1:06:18
Protect myself as much as possible.
1:06:20
Imagine if we didn't have this tool that is freedom right now.
1:06:24
It would be a lot worse for everyone.
1:06:27
We just be basically in a gilded cage.
1:06:29
But it looks like the money printer is about to turn on.
1:06:32
And we all know what happens when they print more money, the
1:06:35
Bitcoin price skyrockets. So hey, man, things are getting
1:06:39
crazy. But it is funny, Nico, that we
1:06:41
are In Sync on the same idea of, hey, everyone is noticing that
1:06:45
printing more money is the problem.
1:06:47
Now, what is the solution? How do we fix this?
1:06:50
And we would argue that it is protecting yourself in Bitcoin.
1:06:54
But we're still going to see this play out like this is crazy
1:06:57
stuff happening right now in in in the US and of course, in the
1:07:01
world at large. But the one fix here, the one
1:07:05
solution is simply Bitcoin. You need to save in Bitcoin.
1:07:08
That's the total theme of this show is you guys need to hold
1:07:11
some Bitcoin, protect yourselves in something that cannot be
1:07:14
debased, that cannot be stolen and confiscated and something
1:07:18
you know that they can't create more of 21 million hard cap.
1:07:21
This is where we are right now. Once more people wake up to the
1:07:25
scam that is the Fiat system and go into Bitcoin, I think things
1:07:30
are gonna fundamentally change. But it's very interesting that,
1:07:32
you know, the layman out there, the blue collar workers are also
1:07:35
seeing what we've been seeing for a long time.
1:07:37
They've printed obscene amount of money and they made us all
1:07:39
poorer. And This is why we're and they.
1:07:41
Want a piece of the pie We. Want a piece of the pie?
1:07:44
It's very simple. Absolutely, 100%.
1:07:47
Also, a slight correction here, Opti.
1:07:49
Apparently it's 1977, not 1917 in terms of the last time they
1:07:53
they. Oh, I thought I said 77.
1:07:55
OK, yeah, my bad. My bad.
1:07:57
But and also I do want to give a shout out to thanks Ben for the
1:08:02
10,000 sats and we got 15,889 sats streamed at us on Noster
1:08:08
today and we peaked at 69 live viewers.
1:08:11
So shout out to our Noster audience.
1:08:13
Shout out to the 109 of you guys watching live on Rumble.
1:08:17
And of course we peaked I think at like five O 5 on YouTube.
1:08:21
So shout out to everybody watching us on YouTube as well.
1:08:24
And of course, X so 1209 of 90 of you guys watching live on X.
1:08:29
So apparently you guys like the subject matter and I don't want
1:08:33
to end it on a negative note, but this is breaking news and I
1:08:37
do want to talk about it. So apparently Iran has has
1:08:47
attacked Israel. These are these are missiles
1:08:50
that are actively hitting Israel.
1:08:51
This was a tweet video that was posted by Elon Musk, which is
1:08:58
pretty crazy. And of course, it's also
1:09:00
trending as well. Iran's missile attack on Israel.
1:09:05
This is absolutely gnarly. This is nuts.
1:09:09
This is pretty crazy stuff. And yeah, this is Bitcoin fixes
1:09:14
this. Let's end war for good.
1:09:18
And this is nuts, dude. Holy shit, this is crazy.
1:09:22
Like, wasn't this one of the this is wasn't this like one of
1:09:24
the final steps like that needed to happen, like major
1:09:29
escalation? I don't know, man.
1:09:35
Yeah. So it looks like what World War
1:09:37
Three just started. What a doomer episode.
1:09:43
That's pretty crazy anyways. And I don't mean to laugh, but
1:09:45
man, it's crazy. This is nuts.
1:09:48
That's a lot of missiles, huh? God.
1:09:51
Well, Bitcoin fixes this. Bitcoin ends wars.
1:09:56
Let's end wars for good. This is what the peaceful
1:09:58
revolution is all about. And yeah, let's continue to
1:10:03
defund their system by opting out of their system entirely
1:10:06
and, you know, make the world a much more peaceful place.
1:10:10
I think a lot of this war is, is Fiat, man.
1:10:12
It's just Fiat, like Fiat fuels this and all that money that's
1:10:17
being sent from the US government to, you know, all
1:10:21
these different countries so that they can just fund war
1:10:25
while their own citizens are just kind of like, dude, like,
1:10:28
what? WTF is insane?
1:10:31
So let's end this insanity. And the way that we do that,
1:10:35
like Jeff Booth said it best is opting out entirely.
1:10:39
So just opt out into Bitcoin and in the process, you're going to
1:10:42
defund war anyways. Guys, this was your Simply
1:10:45
Bitcoin episode for October 1st, 2024.
1:10:48
I'm your host, Nico. This is my Co host, Optimus
1:10:51
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It's not left versus right. It's not Kerry versus
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party of war, nihilism, destruction, usury, slavery.
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There's the party of orange, the party of peace, prosperity,
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