Latest / Simply Bitcoin / BREAKING: World’s 4th-Largest Economy Going ALL-IN on Bitcoin?! | EP 1357

Transcript

BREAKING: World’s 4th-Largest Economy Going ALL-IN on Bitcoin?! | EP 1357 · Simply Bitcoin

0:00
OK what are the world's largest economies in the world a four
0:03
and a half trillion dollar giant is flipping pro Bitcoin with
0:07
their economy in shambles and a precursor to what America's
0:10
economic future could be Japan is about to make a big splash
0:15
effectively ending their ban on banks custody Bitcoin.
0:19
While this is a greater trend of countries wanting to hold
0:22
Bitcoin, don't fall for the trap we'll break it all down for you
0:26
in this video let's dive in all right guys it also it looks like
0:31
I'm streaming through OBS. So one's in the chat.
0:35
If I'm actually live because our normal streaming software isn't
0:38
working, but I I think we're live.
0:40
So let me let me get everyone over from rumble anyways
0:46
anyways, man. So I'm probably I'm gonna have
0:51
to do this live guys, I'm gonna have to do everything live.
0:54
Oops, wrong one here. I'm I'm going to just read it
0:57
because again, we're not using our normal streaming software.
1:01
AWS took everything down, but I'm over here on Yahoo finance.
1:04
So the big news is Japan's banks.
1:07
It's the headline. Japan's banks may soon hold
1:10
Bitcoin and I'm going to read a little bit here.
1:12
So Japan's financial landscape is transforming digitally.
1:15
The Financial Services Agency, the FSA has begun considering
1:19
regulatory reforms permitting domestic banks to acquire and
1:23
hold non back crypto assets such as Bitcoin for investment.
1:28
In addition, three of the largest banking groups are
1:30
pursuing a plan to issue yen peg stable coins jointly.
1:35
And the reason I think this is kind of a big news is 1 like I
1:39
said, to start out the show, historically their their
1:42
guidelines were revised in 2020, effectively banning or barring
1:47
the banks from acquiring crypto assets for investment, citing
1:51
quote extreme volatility concerns.
1:53
Now, of course, things have updated and things are working
1:56
differently now. Let's see.
1:59
OK, All right, cool. I am live.
2:01
I am live. OK, So now they're switching
2:03
this up. Obviously.
2:05
I think the biggest thing going on right now is essentially, of
2:09
course, the Trump administration saying that they want to go
2:12
Bitcoin. And now it seems like every
2:15
nation state around the world is following this lead here.
2:18
So the interesting part is, of course, another nation state
2:22
coming in, I would say a global player here in the economic
2:26
landscape. And even though they kind of
2:29
step back away from Bitcoin for a little bit, now they're
2:31
revising whether they're going to allow people to go into
2:34
Bitcoin, obviously, because now it's a lot safer.
2:37
You know, all of the concerns for the most part have been
2:41
taken away. And now everyone is scrambling
2:43
to get into position here to make sure that their, you know,
2:48
banks, their country, their citizens can get into Bitcoin in
2:52
a Safeway. Now, I do have a whole rabbit
2:54
hole later on in regards to whether these institutions
2:59
coming into Bitcoin are a good thing or not.
3:01
I'll I'll break that down in the culture later, but first and
3:04
foremost, I do, I wish actually here.
3:07
Let me let me try to get this going for you guys, because I do
3:11
need to screen share a little bit here for you.
3:15
So I'm I'm literally I'm doing this live guys.
3:17
I'm I'm getting this set up live for you so that we can see this
3:23
stuff. All right.
3:25
Well, I'm this is a new setup here.
3:28
OK, so here we go. The reason I want to screen
3:33
share real quick is because we are seeing a lot of interesting
3:36
stuff come out of Japan. Now this chart right here, I'm
3:41
going to go in order here. Obviously, I've been telling you
3:44
guys for a while that what we're seeing in Japan is very
3:48
interesting because essentially what Japan did was what we are
3:53
currently doing. They're just ahead of the curve
3:55
here. They got really high, you know,
3:57
debt to GDP ratios and we're starting to see cracks in the
4:02
bond markets over there. Now they are seemingly getting
4:05
this kind of together. They are potentially getting
4:09
things in order. At least that's what they're
4:10
trying to make people believe. But in the last couple of weeks,
4:14
we've been seeing some very interesting stuff.
4:15
And here's a tweet from global markets and it goes here we go
4:18
again in Japan. Japan's 20 year government bond
4:21
yield hit its highest since 1999.
4:24
The 30 year JGB yield reached its height since debuting in
4:28
1999 and the 40 yield Japanese government bond yield is now
4:32
near its highest since debuting in 2007.
4:35
The world's third largest bond market is breaking.
4:39
Different Fiat currencies are starting to look away from
4:41
Treasuries and they're looking for alternatives.
4:43
Obviously, we've seen what's happened with gold.
4:46
Gold is the hottest trade right now.
4:48
It did have a little correction. It seemed to have, you know,
4:51
kind of popped up this morning. So I don't think the gold run is
4:55
necessarily over. And I do have a good clip from
4:57
Luke Roman that I'm going to play in the numbers in a minute
5:00
that essentially show you what we think is going on.
5:03
And so again, I do think these things are interrelated because
5:08
again, further what we just heard from the Federal Reserve
5:12
and Jay Powell last week is the same thing that we're hearing
5:15
from Japan. The bank, Japan's balance sheet
5:17
is shrinking and it's accelerating.
5:19
Total assets are down. And since the March 2024 peak,
5:23
assets have fallen roughly $407 billion or 8.1%.
5:29
To put this into perspective, the Bank of Japan totals assets
5:32
to GDP ratio still stands above 110%, which is usually that
5:36
concerning. I I believe there's still around
5:38
200 something percent. But anyways, the Japan era of
5:42
ultra loose monetary policy is over.
5:45
And This is why I think I think these things are connected is
5:48
because as we're seeing the bond market struggle, I mean, Sophie
5:52
was telling me earlier they're they're about to and, and I did
5:55
Fact Check this Sophie. They're, they haven't elected a
5:57
new Prime Minister, but they seemingly are going to elect
6:01
their first female Prime Minister tomorrow.
6:03
I think they're, they, they're doing.
6:05
Oh, I thought she. Already.
6:07
Won. No, she's she's on the verge of
6:09
winning. But I think tomorrow is like the
6:11
official day anyways and, and Sophie will get into her
6:15
conspiracy theory in a minute on that.
6:17
But you are starting to see people don't want treasuries and
6:21
now they got to look for alternatives.
6:23
Obviously gold is one of the main alternatives.
6:25
And now we're starting to see Bitcoin play a role in that
6:29
global market. Everyone's looking for.
6:31
Hey, you, you might just need to have a little bit of Bitcoin in
6:34
your balance sheet somewhere. So I think these two things are
6:38
one in the same. They, they are, I believe,
6:41
playing out kind of in tandem here because if you are starting
6:46
to see struggles with your treasury market and then of
6:49
course, what's going on in the gold market, I did show you guys
6:52
this on Friday, the gold price in Japanese yen is exploding
6:58
300% since 2020. It's, it's basically going
7:01
parabolic right now. So we're seeing this trend of
7:05
global currencies, all currencies around the world are
7:09
potentially in this hyperinflationary scenario.
7:11
Now, I don't think we are there, but you they are starting to
7:14
lose against gold. They're getting debased in real
7:18
time. And so people are concerned
7:20
about this. They're looking for
7:21
alternatives. And so I don't think it's a
7:23
coincidence. My, my camera is all weird.
7:26
I don't think it's a coincidence that we are seeing Japan
7:31
essentially about to elect a new Prime Minister and at the same
7:35
time their banks are arguing whether they should allow their
7:40
banks to custody Bitcoin. Now that I think is an
7:44
interesting geopolitical game theory going on.
7:47
Of course, it started with the Trump administration.
7:49
Now we're seeing this trickle into all economies here.
7:52
And before I get into kind of my, my further conspiracy
7:56
theories about we shouldn't be trusting the banks here, The
8:00
reason I and everyone watches Japan is because Japan's
8:04
essentially like the global nation state hedge fund.
8:07
You could get really cheap capital coming from Japan.
8:11
You get basically really low interest rates.
8:14
That's where all the money flows.
8:15
They're essentially what we would consider where the US is
8:19
going to be in a few years. That's always been the concern.
8:21
And one of my favorite Bitcoin conspiracies is that This is why
8:25
Satoshi Nakamoto took the pseudonym of Satoshi Nakamoto.
8:29
It was basically to show the US, hey, if you don't figure this
8:32
out, you're going to become Japan.
8:34
And as we're seeing now, we're finally seeing the Japan kind of
8:39
economy implode. I know there's a lot of
8:41
struggling going on over there and now the bond market's
8:44
exploding. But that Japan has essentially
8:46
been the Keynesian, you know, MMT theorists, like perfect
8:52
example of like, hey, guys, we can run our debt super high.
8:55
The GDP to debt ratios can be extremely high.
8:59
And look at Japan, they're doing so well.
9:01
Well, I think finally, you know, finally the the reality is
9:06
starting to set in and we're seeing problems in Japan.
9:09
And so the two things together I think are very interesting,
9:12
especially now that they are looking at all of the assets out
9:16
there, they're looking at all the markets and they're like,
9:18
actually, I think we we need to allow our banks to custody
9:23
Bitcoin. I think it's time where we stop
9:25
banning our banks from custody and Bitcoin.
9:27
We essentially have to get into the game here or else we're
9:29
going to be left in the dust. So that's my first take.
9:33
So I'll pass it over to you while I do some some technical
9:36
stuff over here to make sure it looks good moving forward.
9:40
But what's your thoughts on Japan going in?
9:42
And then and then I'll I'll kind of get into my conspiracies
9:44
here. I mean, I think it just goes to
9:47
show that this liquidity shortage, this liquidity shock
9:53
that is imminent is not just happening in the US, but it's
9:57
happening to the biggest foreign holder of US bonds and
10:03
Treasuries. And so if they're, you know,
10:06
and, and Japan, I would say is like a relatively like
10:09
conservative culture. So I wouldn't doubt that they
10:13
treat their economic system very conservatively as well.
10:17
If they are lifting restrictions on Bitcoin and crypto as a
10:21
whole, what does that say about the system that we're on right
10:26
now? Is it telling you that, you
10:28
know, maybe bonds and treasuries aren't as reliable?
10:31
Is it saying that, you know, maybe we need to be going into a
10:35
hard asset that is easily divisible and easily
10:38
transportable not and has a capped supply with absolute
10:44
scarcity? I think those are all of the
10:46
questions that they are asking themselves.
10:48
And I don't think that it's really, I don't think it's a
10:54
coincidence that it's happening when Japan is about to elect a
11:00
very conservative, a Prime Minister.
11:04
And why do I say that? Because historically, and you
11:07
know, this isn't about left or right, like I don't really care,
11:11
I'm team Bitcoin. But historically, from what
11:14
we've seen on our side of the pond, I know that we say that in
11:19
reference to the UK, but whatever, like we're separated
11:21
by the Pacific or in our side of the ocean.
11:25
We've seen Prime Minister two weeks after she takes office.
11:32
And I'm sure that they're going to be conversing about how to
11:37
stabilize the economy because it's like you said, Japan is a
11:41
couple of years ahead in terms of technology and in terms of
11:47
economic moves. So they will probably get In
11:51
Sync about how to better, you know, figure out what it is
11:58
that's coming because we don't know they know.
12:00
But if they're making these moves, they're definitely
12:04
preparing for something big that is to come, in my opinion.
12:09
Yeah, I, I think that's kind of the the big move.
12:12
Obviously, guys, we're seeing what's going on in the golden
12:15
market and as a Bitcoiner, that's telling you a lot of
12:18
stuff going on in just the global sentiment right now.
12:21
People do not want currencies right now.
12:23
They do not want treasuries. the US government and basically
12:27
every government right now is trying to incentivize people to
12:30
buy treasuries any way possible. They're basically losing control
12:34
of the system, though this could take a lot longer than us
12:37
Bitcoiners imagine, But they're essentially realizing that the
12:41
old levers aren't working like they used to, and they need to
12:44
find a new solution, which is, of course, Bitcoin.
12:47
Now we. I think at the very least people
12:51
are feeling FOMO and they are FOMO ING into gold.
12:55
And their only reason I say this is because I've seen it happen
12:59
with family friends where you know, you everybody gets the
13:02
call when Bitcoin is at all time high.
13:05
Hey, can you talk to me about this Bitcoin thing?
13:07
Like it's literally a meme at this point.
13:09
So that same psychology, you could just apply it to gold.
13:13
People are watching it go at all time high, reading these
13:16
headlines saying, wow, if everybody else is is leaning
13:20
into gold and it's going at all time high, there's these queues
13:24
forming around buildings for people to purchase gold.
13:27
Maybe I should get myself a little bit.
13:30
And you know, the, you got to study what has happened in the
13:34
past, what happens right before, you know, during a bull market,
13:41
when there is this peak in the goal in the price of gold, What
13:46
happens to Bitcoin? It usually historically has
13:49
followed. And I think that we're seeing
13:52
the perfect setup with many institutions, governments,
13:56
especially now lifting these restrictions.
13:59
Whereas before we were seen as, you know, basically pirates and
14:03
scammers and saying that like this Bitcoin thing is like
14:07
you're going to get scammed. I remember getting lectured by
14:10
someone at Pilates about that. It was.
14:14
Yeah, the the yoga teacher definitely knows.
14:16
So embarrassing for them. But I, you know, if, if, if all
14:21
of these obstacles are moving out of the way, it seems like,
14:26
you know, history doesn't repeat itself, but it rhymes.
14:30
And I feel, I feel like this is history rhyming.
14:33
I feel like these, you know, instead of it being Iran in the
14:39
past and Lebanon in the past, El Salvador countries that, you
14:46
know, you might say we're still developing or were in turmoil
14:50
and needed Bitcoin to save them. You are seeing countries like
14:54
Japan and the United States adopt and embrace Bitcoin and
15:00
say, OK, we're going to let the institutional money come in now
15:04
and think about the ramifications that it has.
15:07
People like you and me, like we're just trying to become
15:10
whole coiners. And we, you know, famously say
15:14
on simply Bitcoin, how much Bitcoin do you need to retire?
15:17
And it's zero. It's literally like 0.1 Bitcoin.
15:21
And that number may be getting smaller over time.
15:23
We don't know, but the way that the the moves that these
15:28
institutions are making in the amount of liquidity that is
15:32
coming and will pour into Bitcoin, if you know, certain,
15:38
you know, things happen. I'm not a fortune teller, so I
15:42
can't really tell you what those things will be.
15:44
I'm just saying that the the global stage and the
15:47
institutions are setting up for it and it looks like the
15:51
interest is is there. They're all over the headlines.
15:55
They're all over their balance sheets.
15:58
BlackRock, you know, their I bit ETF is number one on their
16:03
balance sheets. So I think a lot of important
16:07
wealthy institutions are taking note of that and they are
16:11
following suit. Yeah, 100%.
16:14
I mean, it's all the rage right now, obviously, ever since Larry
16:18
Fink got in and Trump got in, you're starting to see the pivot
16:23
into Bitcoin and obviously stable coins.
16:25
And there's a good question in here.
16:27
Is it this is by Nico DG1 VF. I can't pull you up right now
16:31
'cause there no more streaming software is acting up.
16:33
But he goes, is it possible they just want to create their own
16:35
stable coin? Yes, 100%.
16:37
And I think that is kind of the greater trend right now is
16:41
they're not necessarily going all the way into Bitcoin.
16:45
Yes, they're going to allow their banks to potentially start
16:49
to custody Bitcoin. But a lot of these nation States
16:52
and the rulers right now and the people at the top are
16:55
essentially thinking they could stop the demise of Fiat
16:58
currencies by going into stable coins.
16:59
From our perspective, they're just, they're stablecoins,
17:03
basically Fiat currency. They're they're, they're not
17:05
going to save themselves via a stable, a stable coin.
17:08
But this is obviously why they are, you know, classically
17:14
embracing Bitcoin is because if they embrace Bitcoin, then
17:18
obviously they can kind of type a facade and they're like, we
17:22
just want to drop a CBDC on you guys trust us, it's going to be
17:24
better for your payments. Obviously we know better than
17:28
that. Anyways, guys, we're.
17:30
Lagging. Yeah, this show is going to be a
17:33
little a little different than usual it looks.
17:36
I don't know if if it's this whole AWS that's messing with
17:39
YouTube as well. Yeah, so look.
17:42
It's Bezos. Blame him.
17:43
Yeah. So hey, look, Today show, the
17:46
Today show might be a little shorter than usual.
17:48
I'm going to try to keep this going as normal, but hey, what?
17:52
You know, strange times here. But of course, before we keep
17:56
going, I do want to remind you guys to like the show.
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Comment on this video, tell us how you think we're doing here.
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It's like 1000 plus dollars or something like that Yeah Anyways
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guys let me keep it moving and hopefully nothing else crashes
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on the stampseat.com store. All right, guys, we are back.
20:16
I think I dude, I'm I'm literally on the fly learning
20:19
how to use OBS to do the show like we normally do it.
20:21
So forgive me. Hopefully, hopefully that work.
20:25
Opti's a professional. Smash the.
20:27
Like if you think Opti's a professional.
20:29
Yeah, he's killing it. Honestly, I was like, what are
20:33
we going to do? What are we going to?
20:34
Do yeah, I had to literally make this stream work very last
20:39
minute because Restream stopped working.
20:40
But anyway, anyways, let's keep this moving.
20:42
So we're over here in Clark Moody's dashboard.
20:44
The current Bitcoin price is $111,000.
20:47
And wait, 111 and $20. A decline from all time high of
20:51
-12 A market cap of 2.21 trillion and the current block
20:56
height 919,968. All right guys, in other.
21:02
News In other news guys, Bitcoin is now a stable coin, everyone.
21:07
Yeah, yeah, it's a stable coin, guys.
21:10
The bull runs over now, actually, actually.
21:13
You know. This I'm kind of bullish.
21:14
This might be why Japan is like, OK, we might feel comfortable.
21:19
I'm telling you the stability, the the sideways action, I call
21:25
it stability because I'm a woman.
21:26
But like this like boring sideways action that we're
21:30
getting. It might be the reason that
21:32
governments and institutions are finally like, OK, well, maybe we
21:35
can buy some of this stuff. Maybe it isn't for scammers.
21:38
Maybe it's actually a legit thing.
21:39
I don't know. Yeah, the the volatility is
21:43
down, which This is why they're getting comfortable with it and
21:46
I'm getting bored over here. But honestly, it was nice to see
21:50
the price kind of respond over the weekend.
21:53
I know everyone was kind of saying it was, it was over.
21:57
And then I, I, I came on. In my heart, it was over.
22:02
I came on Friday and I was like, guys, I don't think it's over.
22:06
And hey, look, the Opti macro teeing did well, did well.
22:10
OK guys. So I got this clip of Luke
22:13
Roman, Luke Groman, sorry. And it was he was on TFTC and he
22:18
was talking about gold and the dollar.
22:21
And I think it's perfectly explaining where we are right
22:24
now. Now, I really hope this works.
22:26
I just set it up. So forgive.
22:28
We're doing it live. Let's see.
22:30
Gold is how you get out of the dollar system and that's why
22:33
another or friend of another said all those years ago when
22:36
you see them go up together, that means the dollar is coming
22:39
to the it's it's end of life. That's dollars.
22:41
This present form of this dollar system is coming to the end of
22:45
life. Now does it mean the dollar is
22:46
going to die? No, I'd be using dollars and you
22:49
know, you're and my grandkids and great grandkids will still
22:52
be using dollars. They're just going to buy us a
22:53
lot less. And certainly in gold terms, de
22:57
facto, we can see gold with today's price move has overtaken
23:03
treasuries in global central bank reserves, right.
23:06
So there are now, there's now more gold in global central bank
23:09
reserves than there are U.S. Treasuries.
23:12
How do you sit there and argue and say it's not overtaking the
23:14
dollar in the system? You gotta get to me.
23:16
That's crazy. Now, will people still use
23:18
dollars? Of course.
23:19
Why? That's just Gresham's law,
23:21
right? And I hear people say, well,
23:22
it's still dominant. 90% of currency usage.
23:26
That's dollar dominance. Great.
23:29
So you're spending. Yeah.
23:30
You're telling me it's the bad currency, right.
23:33
I will. I'll spend dollars late all day
23:34
long because there's a terrible store of value.
23:36
But if the whole change of structure we've been talking
23:40
about for years and if you watch all my posts, all my pockets,
23:44
everything ever said have never said end of dollar reserve
23:46
status since end of the post 71 structure of dollar reserve
23:51
status, which is dollar as primary reserve currency,
23:57
Treasury bond as primary reserve asset.
24:01
It happened. It's happened.
24:03
The dollar is still primary reserve currency.
24:07
The gold is now primary reserve asset as of probably this
24:10
morning with the $100 move. And I don't think it's ever
24:12
going back unless, you know. Restart it and my streaming
24:20
software. OK all right guys, I don't know
24:27
what is going on over here, but hopefully you caught that clip
24:32
anyways. The the the the short of it.
24:34
The reason I wanted to play that on today's show is because we
24:39
are seeing what's going on in the gold market now everyone is
24:43
looking at the gold market. And if you're not really a I'm
24:47
not going to call myself a seasoned trader here.
24:49
But if you're not coming from a hard money perspective, you're
24:53
you're probably looking at gold and you're just thinking, oh, I
24:55
can go to gold. I can get games there.
24:58
You know, gold is is going parabolic.
25:01
You know, I'm making money in gold if I just buy some gold
25:04
right now. And as we've been covering
25:06
there, there does look like the retail that's chasing gold right
25:10
now is the exit liquidity because they don't understand
25:13
the fundamentals of what is happening.
25:15
And there's a few things that Luke Roman said one, I think
25:19
he's 100% spot on with what he said about we're starting to see
25:23
treasuries essentially become no longer the world reserve asset.
25:27
Yes, the dollar's still the world's currency, but gold has
25:31
fundamentally retaken that position as the world store
25:34
value or yeah, world store value as we saw the banks.
25:39
Now. Hold a higher rate of gold than
25:41
they do of treasuries, which hasn't happened in the basically
25:44
in my lifetime. And we're starting to see that
25:48
this quote debasement trade is taking off that people are
25:52
starting to worry about their currency being debased.
25:55
And he did mention one interesting thing about when you
25:58
see the dollar and gold rise at the same time it's showing you
26:03
something in the system. Now I'm going to pull over here
26:06
to trading view. I did a, you know, a simple U.S.
26:11
dollar index, which is of course the strength of the dollar
26:14
compared to the price of Bitcoin.
26:16
Now, if I zoom out a little bit, you do see kind of an inverse
26:21
correlation here, that when gold goes up, usually the Dixie goes
26:24
down or vice versa. When Dixie goes up, gold goes
26:27
down. They're basically showing you
26:30
the same thing, the strength of the dollar.
26:32
And then what we're seeing right now is obviously completely
26:37
different because as the dollar Dixie goes down, obviously gold
26:42
goes up. And then you see this little,
26:44
you know, as the gold price goes down, dollar Dixie goes up.
26:47
But now we've gotten to a point where yes, gold is ripping and
26:51
Dixie has gone down, but it kind of bottom out here.
26:55
And actually this morning you can see it started to RIP.
26:58
It is kind of correcting a little bit.
27:00
So I think what Luke Grauman's been saying is absolutely spot
27:04
on that we are seeing as a lot of Bitcoiners have been talking
27:08
about this monetary reset happened in real time.
27:11
The world is moving away from treasuries and dollars as a
27:15
reserve store of value. That's usually the safest bet is
27:19
to buy government debt. Right now.
27:21
They're doing whatever they can to incentivize people to buy
27:24
treasuries, but most people that are in the market do not have
27:29
faith in getting returned on long term treasury returned or
27:33
treasury interest rates. And so we're seeing everyone
27:36
pile into gold. And this is being driven by, I
27:39
think a, a couple of factors. One, of course, retail
27:42
speculating on it, they just want to make dollars.
27:45
But two, it's obviously central banks are now acquiring gold at
27:49
rates we haven't seen before. And then the institutional
27:52
investors also piling into gold. And so even if we don't see a
27:56
gold correction right now, which is, in my opinion, going to be
27:59
extremely bullish for Bitcoin, but if we continue to see gold
28:03
RIP higher than we've ever seen before and it goes to $5000 per
28:07
oz, like Luke was saying, that's going to show us that there is
28:12
some fundamental issues going on in the system.
28:15
And most people are either going to be too late to this trade or
28:19
they're just going to be kind of chasing the games here and not
28:22
be in a very good position to to, you know, maintain their
28:26
purchasing power or rather to basically beat the hurdle rate
28:29
that is Bitcoin now. I did read a really good
28:33
newsletter from James Lavish over the weekend and he broke
28:36
all this down of what's going on from the Fed, the feds basically
28:39
saying that they're going to end quantitative tightening soon.
28:44
What's going on with the secured overnight funding rates, Federal
28:48
Reserve funding rates? And it's basically telling you
28:52
that there is some kind of cracks going on in the system.
28:55
The system is losing liquidity. And so that to continue and
28:59
maintain the status that we have, it all leads to one thing.
29:03
They have to turn on the money printers.
29:05
They need to provide new liquidity for the system.
29:07
And James Lavish was essentially saying there's two things you
29:10
want to hold, obviously Bitcoin, but he's also holding some gold.
29:14
But he's saying since Bitcoin is a smaller market cap, it's going
29:18
to run way higher. And if we learned anything from
29:21
gold this year is that it doesn't matter the market cap of
29:25
the asset, it just, it matters how much people want to get into
29:30
it. Gold's been rallying it's it's
29:32
been adding literally multiples of bitcoins market cap and you
29:37
think Bitcoin can't pump just as hard if people realize that they
29:40
need to hold some Bitcoin? I, I think we are totally
29:44
underestimating where this is going and it keeps leading me
29:47
back to two things. One, 2026 might not be a down
29:51
year and two, I think you know what, what's everyone asking the
29:54
chat 200K by end of year. I think it's still in play,
29:58
guys. I, I think it's still in play
30:00
considering we are essentially in a new macro landscape.
30:04
We, we are in uncharted waters right now.
30:07
And every Bitcoin, including us, every Bitcoiner that thinks they
30:11
know what's going to happen this year, we've all been
30:15
fundamentally wrong. And that keeps telling me that
30:17
things are different now. And I know, I know it's like
30:20
that's going to be Opti's famous last words, like this time is
30:23
different, but it is fundamentally different.
30:26
And I think when you consider all the macro land, all the
30:29
macro indicators that the global landscape right now and the fact
30:34
that investors do not want to hold traditional assets and
30:38
they're kind of, you know, moving away from treasuries
30:40
piling into gold. I, I think Bitcoin's going to
30:44
have a huge run end of year. So I, I think Luke Roman's
30:47
completely right. We are seeing the fundamental
30:49
monetary reordering in, in real time.
30:52
And this can take a lot longer than we know, but it's happening
30:56
as we speak. You're, you're seeing the
30:58
writing on the wall. These things are playing out.
31:00
And it's not us just looking, you know, reading between the
31:03
lines and, and, you know, seeing things that we, that isn't
31:06
there. It's just like, it's very
31:08
obvious what's going on, but a lot of people are, you know,
31:12
still asleep, sleep at the wheel, or they're still kind of
31:14
working off an old paradigm. But we have Bitcoin now.
31:17
So that fundamentally changes everything.
31:20
Cut. Yourself.
31:24
Off there Dude I am a bro. I'm so many moving parts right
31:27
now. Professional today.
31:29
Honestly, like, I don't know how you're doing this, but yeah,
31:34
what Luke Roman said is, I mean, it's absolutely.
31:36
It has so much logic behind it, though.
31:39
I'm not sure that that is going to be the final chapter of this
31:44
story, What we do. No, no, no, yeah.
31:47
What we do know that has happened so far is, you know,
31:50
they've printed money into oblivion to the point where debt
31:55
is no longer sustainable. In fact, the reality is that a
31:59
lot of people our age are never gonna see Social Security
32:03
benefits. Retirement funds are essentially
32:08
more than likely not going to be a thing in the future.
32:11
And So what happens when the whole world depends on this
32:15
currency? They're obviously going to look
32:16
for other options. That was the the objective of
32:20
bricks, for example. That's why they tried to make a
32:22
new monetary system backed by gold and oil.
32:28
But from from a more practical perspective, those are assets
32:34
that sure, like they're rising, they're they're necessary in
32:38
this economy. What is easier, what is more
32:41
practical to handle as a currency as like like you said,
32:46
we may use the dollar on a day-to-day basis just because
32:50
it's something that we're used to.
32:52
Who knows, maybe maybe the US does end up using a stable coin.
32:57
But the reality is that at some point inflation is going to take
33:01
over the use of that currency. You're not going to you're going
33:04
to turn into a country like Venezuela where you know, to buy
33:09
an ice cream. It was 500 Olivares.
33:12
And like at some point you just you, you don't even know
33:15
different way of exchanging currency.
33:18
And the next wave of that is naturally a digital money.
33:24
And the best digital money that there is is Bitcoin.
33:29
You're not going to want to transact in an altcoin whose
33:33
values. This is different every single
33:36
second of the day because then you might as well be using
33:39
dollars. You might as well still be on
33:41
Fiat. Eventually a lot of, you know,
33:45
the rest of the world is going to realize that.
33:47
And my theory of the case is that once people realize how
33:50
scarce it is, the accumulation race is going to begin on a
33:55
retail level. And that's when, you know,
33:58
that's when we're going to finally see hyper bitcoinization
34:01
come into play in terms of social adoption, global
34:05
adoption. Yeah, yeah, 100%.
34:09
I, I think, I think we are seeing a very interesting time
34:15
going on right now where if you don't understand what's going
34:18
on, you're you're definitely going to be left in the dust
34:23
here. And This is why we come out here
34:25
every day trying to explain what is happening from various
34:28
different angles and always boiling it down to a very simple
34:31
thought is you just need to have Bitcoin.
34:34
It is no longer an option for you not to have Bitcoin.
34:37
And if what the lot of Bitcoiners and macro guys have
34:40
been saying for a long time, like the time is now, the next
34:44
five years are going to be the most interesting time to to be
34:47
alive, like not just as a Bitcoiner, but I think as
34:49
everyone around the world. And if you aren't preparing now
34:53
for what is coming down the pipeline, for what they're
34:55
telegraphing and projecting is going to happen, it it's going
34:59
to be a very, very bad existence for, you know, the majority of
35:03
people here because they are definitely telling you what is
35:06
going on. Things are changing and they're
35:09
trying to figure out a way that they can position themselves to
35:12
kind of maintain their power. But with that comes the upside
35:16
as an individual, if you do have some asymmetric understanding,
35:19
if you do understand kind of what is going on in the monetary
35:23
reordering and you do hold Bitcoin, I think it's going to
35:26
be the best time for all of us here.
35:27
Now, the real game for us Bitcoiners is just don't let go
35:31
your Bitcoin at this point. This is like the big thing going
35:35
on, and I will cover this in the culture.
35:36
I I just remembered I I skipped, I skipped my conspiracy theory
35:40
in the beginning because of all of the technical issues going
35:43
on. But anyways, and over that we
35:45
got some, we got an interesting dichotomy going on around
35:49
conferences, fintech conferences and then the Fed throwing a
35:52
conference too. Yeah.
35:55
And. That's great.
35:56
And I wonder, I wonder what they're going to talk about.
36:00
Well, we have the kind of the index of the conference.
36:03
The only thing I want to hear them talk about is when they're
36:06
going to print money and how much of it so that I can so that
36:09
I can prepare. Soon, a couple of days, a couple
36:12
of days, we're going to know if they're going to cut rates.
36:15
Anyways guys, let's keep this moving because hopefully this
36:18
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Yeah, cop this sexy thing. Let's just go all right, man,
39:37
yeah, today's show is is awesome.
39:40
I'm a perspective of what people outside of our industry actually
39:45
think about Bitcoin. Now this first headline is from
39:48
Yahoo Finance and it goes India bans crypto talk at world's
39:52
largest fintech summit. And that that silence says
39:55
everything about its market strategy.
39:57
And I think that is kind of kind of the signal here is that even
40:04
though we as Bitcoiners understand bitcoins going to
40:07
take over the world and we're seeing the Larry Finks and, you
40:09
know, Donald Trump's the Japanese economy, the banks,
40:13
sovereign wealth funds, the ETF launch for the majority of
40:18
people. They still kind of view Bitcoin
40:20
as something that they don't want to talk about, something
40:23
that they they can ignore for as long as possible.
40:26
But it's becoming very clear that the more they ignore it or
40:29
the more they don't talk about it, that is the signal of what's
40:33
going on right now. So everyone isn't embracing us
40:36
yet, but the fact that they don't talk about Bitcoin now is
40:41
really kind of the idea of like what whatever you don't say,
40:44
you're just omitting the truth and that's the signal.
40:47
So I'm going to show you this Reuters article about it.
40:52
And I think it, I, I think it definitely tells us a little
40:58
more of what's going on. So India leaves crypto and
41:00
stable coins at the door in Fintech Jamboree.
41:04
At the world's largest gathering for the financial tech sector in
41:07
Mumbai this week, more than 800 speakers tiptoed around 2 topics
41:11
that have captured attention globally, crypto currencies and
41:14
stable coins. About 100,000 participants
41:17
converged for the three day conference starting October 7 in
41:20
India's financial capital, headlined by the Prime Ministers
41:23
of India, the UK and drawing regulators, investors and
41:26
industry executives for more for more than 100 country.
41:30
And it just kicked off when Bitcoin hit 125 K and India is
41:34
leaning towards not creating legislation to regulate the
41:37
sector, Reuters reported last month.
41:40
And here is where you get to see what they wanted to and what
41:44
they didn't want to talk about at this fintech conference.
41:48
Obviously huge stark divide from from the conferences that bit
41:51
corners are creating now, but it goes quote.
41:53
Please avoid political, crypto, religious or personal remarks on
41:56
stage or at the venue organized for the events.
41:59
The Payments Council of India, National Payments Corporation of
42:02
India and the Fintech Convergence Council do not
42:04
immediately respond to the request seeking comments.
42:07
The warning highlights a contrast with other Asian in
42:10
economies and regions such as, of course, Japan, Hong Kong and
42:12
Singapore, which have made efforts to establish themselves
42:15
as regional hubs. Instead, regulator spotlighted
42:18
India's central bank digital currency called the E rupee,
42:22
with the Reserve Bank of India launching pilot for deposit
42:25
tokenization and a sandbox for fintechs.
42:29
I think that that is obviously the signal here is they're like,
42:34
hey, you know, you guys can't talk about Bitcoin at all, not
42:39
not even stable coins here. And we're not the biggest fan of
42:41
stable coins, but they're like, you know what we will talk
42:44
about? We'll talk about this E rupee
42:47
CBDC project that we're working on.
42:49
But if you talk about Bitcoin. Which is totally not a crypto,
42:54
right? Well, it's not.
42:55
It's a, it's a Microsoft Excel. It's not.
42:58
A an altcoin. Yeah, it's a, it's a Microsoft
43:00
Excel worksheet that that's the real signal here.
43:03
So look, even though I think Bitcoin is winning in, you know,
43:09
the mind share around the world, I think Bitcoin is entering the
43:12
mainstream kind of consciousness.
43:15
People are starting to take it seriously from the highest
43:17
levels. There is still a lot of
43:19
pushback. Obviously, we've been covering
43:21
what's going on in the EU. Now we're seeing it in India do
43:24
something very similar. And though, you know, the irony
43:27
isn't lost on me that they both want to push a CBDC here.
43:30
Anyways, here's another interesting kind of conference
43:34
that is happening this week. And I'm over here on the
43:37
federalreserve.gov and the Fed is going to have a conference
43:42
and it is titled the Payments Innovation Conference.
43:45
Again, they keep, they keep talking about the innovation of
43:49
payments. Bitcoin isn't about the
43:51
innovation of payments. It's about not getting debase.
43:54
It's about holding something that they cannot destroy, that a
43:57
man can't print out of thin air. It's what it's all about.
44:00
It's all about not destroying our purchasing power.
44:03
Anyways, I'm going to read this a little bit and it goes.
44:05
The Federal Reserve will host a conference on payments
44:07
innovation, bringing together leading, leading industry
44:09
experts to share perspectives on the evolving landscape,
44:12
landscape of money and payments. The Federal Reserve welcomes the
44:16
opportunity consider a broad range of perspectives on how to
44:18
further innovate and improve the payment system.
44:21
Again, I keep telling you guys, we're seeing the same thing
44:25
happen every time they talk about Bitcoin or CBDC's.
44:29
It's all about payments, bro. It's like we got to update the
44:32
payments, bro. Payments, innovation.
44:33
This is just about payments, you know, And then that goes really
44:36
into the why. Why do I need Bitcoin if I can,
44:40
you know, just have PayPal, but whatever, whatever.
44:42
Anyways, let's look at some of the agenda here.
44:45
So tomorrow, Tuesday, October 21st, we have, you know, opening
44:49
remarks by Governor Christopher J Waller.
44:51
And then we have bridging traditional finance with the
44:53
digital assets ecosystem with someone from chain link fire
44:58
blocks, head of Treasury service and B&Y, our Head of Treasury
45:02
Services and deposit received at B&Y Mellon.
45:05
So some bakers and some shit corners.
45:07
And then we have stable coin use cases and business models
45:11
moderated by Carl Simoni, who is a notorious shit corner.
45:14
And then we have Paxos, Third Bank Dollar app and Circle.
45:18
So a stable coin in there with with like a Bitcoin exchange.
45:20
OK. And then we have AI in payments
45:24
with Kathy Wood, OK. And then someone from Coinbase,
45:28
someone from Stripe and then Web 3 Google Cloud.
45:32
OK, sounds like a lot of shit corners.
45:34
And then we have tokenized products with some bankers.
45:38
BlackRock, of course, is there. They love tokenization and so I
45:42
mean, I'm sure Kathy Wood will talk about Bitcoin, I'm sure
45:46
maybe Coinbase will. This is about making sure that
45:51
you have a good money that cannot be destroyed.
45:53
Again, remember what was in the genesis block Chancellor on the
45:57
brink of second bailout. This is all about money
46:00
printing. This is all about expanding the
46:02
money supply and destroying your savings, destroying your
46:05
purchasing power. That's what Bitcoin fixes.
46:08
The 21 million hard cap is the signal here.
46:11
And they can never fight this because they're always thinking
46:14
in terms where they're trying to gaslight you and be like, it's
46:17
all about payments, bro. Like the Federal Reserve or
46:20
what's what's Chrissy Lagarde been saying about the CBDC?
46:24
We can already like the payments innovation already happened when
46:27
PayPal and Venmo happened like honestly like the second that
46:31
Apple could do like that double tap pay on.
46:35
Dude, Apple double tap pay is the go, I'm not gonna lie.
46:39
Good, I love. I can't wait to.
46:41
Like, I'm not gonna lie, I use it every day.
46:43
Yeah, it's great. It's so great.
46:45
Like, what are we going to do, talk about that?
46:47
You know, that the payments thing has already been done
46:51
with. I really hope that Bitcoiners
46:56
who are speaking at this conference have the gall to
47:00
confront the Fed at their own event about the money printing
47:05
situation and about the fact that, you know, not only is it a
47:10
money printing situation, but the ramifications of that, how
47:14
printing money has made people poorer over time, how it's
47:18
funded wars over time and how it has generally been used for
47:24
corruption on a global basis, because that's what it leads to.
47:29
Like it's, it's one thing to see numbers on a screen, but it's a
47:32
whole other thing to see the actual RAM fit like the real
47:36
world consequences of that happening.
47:39
And I really hope that somebody talks about that.
47:44
Kathy Wood Kathy Wood, if you can hear us.
47:47
We're depending on. You we're depending on Kathy
47:49
Wood this. Whole conference is on your
47:51
shoulders. Seriously.
47:52
No. Pressure, but you know.
47:54
Well look being being a little more realistic I'm sure they
47:57
will touch on Bitcoin even even like the the shit coiners and
48:02
the stablecoin guys. I I think they will at least
48:05
loosely talk about Bitcoin or maybe lump Bitcoin in with
48:08
stablecoins and other cryptos. The only two real bets we have
48:13
here is probably Kathy Wood and the lady from Coinbase.
48:16
The Coinbase, I don't know, You know, Brian Armstrong has been
48:19
coming around a little more around Bitcoin.
48:21
He has been saying a lot of things nicely about Bitcoin
48:24
isn't? He just in Congress saying that
48:26
they're passing a market. Yeah, yeah.
48:28
He said the market structure bill, market structure bill is
48:31
probably coming soon. He has been saying that for a
48:34
couple of weeks now, but we are seeing a lot of people, you
48:39
know, in the halls essentially say something similar, that
48:41
that's one thing they really want to push through.
48:44
Obviously the genius act got pushed through in.
48:46
The room guys like Congrats to us.
48:49
Well, yes. We're in the rooms where the
48:52
deals are being made. That doesn't guarantee that
48:54
we're going to get anything passed.
48:55
But hey, last administration, we were, we were barred from those
49:01
rooms. Yeah, they they, they literally
49:04
tried to end our industry. So it is a it is a good thing to
49:08
see. Anyways, let's keep it moving
49:10
because the end of this show is going to be some fun stuff.
49:12
I I I've been watching, I shouts out to my boy Sal.
49:16
He hit me to some Simon Dixon podcast with Bitcoin archive and
49:22
they were really good. They were called like black
49:24
rocks evil plan to steal your Bitcoin or something like that.
49:28
He's got, he's got a good tweet about it.
49:29
But Nick Carter kind of, I highlighted a Galaxy report last
49:34
week that did kind of go under the radar.
49:36
And it really goes to what I think I've been saying the last
49:40
couple of weeks is that look, as much as we got all hyped about a
49:45
strategic Bitcoin reserve, it's starting to look like it's not
49:49
really a priority, nor does it necessarily need to be 1
49:52
considering we do now fundamentally know what their
49:56
budget neutral ways of acquiring Bitcoin are.
49:59
So anyways, let's let's transition and we'll be right
50:03
back. I want to give a shout out to
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52:04
OK, God, yeah, yeah, this this streaming with OBS is crazy
52:10
right now anyways. Anyways, this is how.
52:13
They used to do it in the old. This is how most people do it.
52:17
It's just, you know, I'm, I'm learning in real time how to
52:20
make this work. And it's it's not perfect yet,
52:23
but I'll get a perfect. But it's pretty good.
52:25
I mean. If everyone's having a good
52:27
time, smash the like button, share the show with your
52:29
friends. Turn the notifications on so you
52:32
get alerted as to when we will be going live, although we're
52:36
always late for this show. You.
52:38
Hey, hey, hey. You wanna check out our other
52:40
show? We're on block time.
52:41
We're on block time. You.
52:42
Wanna check out our other? Show we're on we're on Latino
52:45
time yes when we start when we start guys anyways anyways so as
52:52
I was telling you here let me let me full screen myself real
52:54
quick as I was telling you guys so I highly recommend you go
53:01
watch Simon Dixon on Bitcoin archives podcast he did like a 2
53:06
almost 3 hour pod. They were titled something on
53:09
the lines of Black Rock's evil plan to steal your Bitcoin.
53:13
And essentially he makes a case that the US government is
53:21
essentially going to centralized the holdings of Bitcoin, or
53:25
rather BlackRock and all of these Bitcoin products are
53:28
centralizing the custody of these Bitcoin.
53:32
And then potentially they're they're just going to, you know,
53:36
on one hand, either like a six one O 2 or that's just the, you
53:40
know, the way to essentially get a honeypot and try to get you to
53:46
sell them your Bitcoin so that you can get games.
53:49
And as we saw last week, the US government did confiscate
53:54
127,000 coins. Now I know a lot of bitcoiners
53:58
or maybe newer Bitcoiners are like, or maybe skeptics were
54:00
thinking, I thought Bitcoin was unconfiscatable bro.
54:03
Well if you secure it right it is unconfiscatable.
54:07
But if you don't then obviously it could be easily stolen from
54:11
you. So the US government basically
54:13
overnight added 127,000 coins allegedly there there was a like
54:18
a whole saga around it. Remember, I covered it last week
54:21
and we still don't really know if the US government holds the
54:24
other 2200 thousand Bitcoin, but based on kind of the general
54:32
idea here, it seems like the US holds around 327,000 coins now
54:37
anyways, just to give some context to that, this is really
54:42
I think what what I want to talk about here is this tweet from
54:46
Nick Carter. Now I know a lot of you guys may
54:48
not like Nick Carter. I think he still does incredible
54:50
work. He's quote tweeting this Galaxy
54:52
research report that came out. I believe this was Friday and or
54:58
it's the 18th Friday the 18th Friday the. 18th was.
55:02
No, Saturday. Saturday.
55:04
Yeah, Saturday. Yeah, Saturday, OK, it came out
55:06
Saturday. Perfect.
55:08
And it's it was titled Uncle Sam's Bitcoin pile grows 64%
55:11
overnight now. I was literally mentioning
55:14
something very similar last week that hey, look, the institutions
55:17
are here. We, we were asking for them to
55:20
be in the, in the Bitcoin space for a long time to kind of save
55:23
our bags, pump our bags, bro, you know, scoop up the bottoms,
55:26
etcetera, etcetera. And I, I literally verbatim was
55:29
saying this, you know, be careful what we wish for,
55:32
because if this is true that the four year cycle is broken
55:35
because there's a new investor in the market, then that
55:39
potentially means, you know, no more fun, no more parabolic runs
55:43
And, and the, the, the ponzi's over, bro, the Ponzi's over.
55:47
But. We start a new era.
55:50
With no bear market. Well, no, actually, you know, I
55:54
think this whole premise of like it's the end of of bull runs and
55:58
it's the end of cycles is like semi faulty because now, because
56:03
that gives the idea that like we're never gonna pump up to
56:05
ridiculous numbers again. And I just think that that's not
56:08
true. I think the fact that we have
56:10
absolute scarcity is just never going to let that happen.
56:14
And the fact that not everybody has the privilege of, you know,
56:19
having their Bitcoin in self custody, the, the fact that
56:22
there are realistically few people that have Bitcoin in self
56:26
custody will basically mean that those who do have it will become
56:33
the banks. We will be the people who give
56:36
you the loans against Bitcoin. Well, well, that's that's where
56:41
the conversation essentially leads that there is going to be
56:44
like this two tiered Bitcoin system shouts out to Adam from
56:49
Bitcoin. Well, he keeps saying captured
56:51
Bitcoin captured Bitcoin and I'm really I really like that in in
56:55
in kind of the context of ETFs captured Bitcoin, the Wall St.
57:00
banks OR the national banks holding your Bitcoin so that you
57:03
could get yield captured Bitcoin.
57:06
The Bitcoin in the BlackRock ETF captured Bitcoin, the Bitcoin in
57:10
strategy potentially captured Bitcoin and the only safe bet
57:14
considering we are going in extremely volatile times is
57:17
Bitcoin in safe custody. That is where you need to hold
57:20
your Bitcoin. We're going to go into this two
57:22
tiered system most likely, and I think it's playing out as we
57:26
speak where there's captured Bitcoin, where the middle men
57:29
kind of come back in. They try to centralized the
57:31
control of Bitcoin and then they give you, you know, some gains
57:34
on top of it, But the real place that you need to be, the real
57:38
revolution, the real utility of Bitcoin is Bitcoin in self
57:42
custody. Now that that's a we'll probably
57:45
chat about that in a minute. But here is is this, you know,
57:49
little highlight from the Galaxy report, which is titled Careful
57:53
What you wish for. So the truth is there's no
57:56
urgency to establish any sort of reserve. the US has nothing to
58:00
lose by simply waiting if Bitcoin continues to monetize
58:03
and ultimately challenges gold and other nations adopt Bitcoin
58:06
as part of their sovereign wealth funds or even start to
58:08
quote back their currencies with it Bitcoin.
58:11
The US has plenty of time to add.
58:13
US institutions, investors and individuals hold more Bitcoin
58:15
than anyone else. the US government has ample means to
58:18
acquire Bitcoin in any point along the journey.
58:20
Should they decide that they really covet it, they could
58:23
acquire Bitcoin via open market purchases more likely.
58:27
In Galaxy Research's opinion, I think this is Alex Thorne.
58:30
They would go for the much cheaper option of setting a
58:32
price cap, banning private ownership, and forcing
58:35
conversion of US held bitcoins as they did with gold in 1913 or
58:38
1933, AKA the Executive Order 61-O2.
58:44
They could also simply expropriate the bitcoins out on
58:46
domestic platforms. US based custodians are the
58:48
biggest by far. They could nationalize miners.
58:51
They could hike capital gains taxes and insist they they are.
58:54
They are paid in in kind. They could arrest individuals
58:56
and under hold a lot of Bitcoin and expropriate their funds.
58:59
They could put resources into developing quantum computing
59:02
good enough to steal the roughly 4 million coins that are quantum
59:05
vulnerable. And then it goes.
59:07
But wait, not like that. But that's the trouble.
59:10
You don't get to decide the manner in which the US
59:12
government acquires Bitcoin. If you are successful at
59:15
persuading them the virtues of Bitcoin and they really set
59:18
their heart on a reserve, they'll do it through whatever
59:21
means or most politically expedient.
59:23
This is not necessarily consistent with what is best for
59:25
the American citizens or American bitcoiners.
59:28
If there's a choice between buying 1,000,000 Bitcoin at
59:30
$1,000,000 a coin for a trillion dollars, or simply confiscating
59:34
1,000,000 coins through some other method, they will go for
59:36
the more efficient method. And as we saw I so saying this
59:40
when the, when the strategic Bitcoin reserve announcement
59:44
kind of came out and when Scott Besson kind of came out and said
59:48
we will accumulate Bitcoin, I found the wording very
59:51
interesting because he said accumulate Bitcoin.
59:53
Of course, they've been saying budget neutral ways of acquiring
59:55
Bitcoin. And then slightly they snuck in
59:58
like we, we can confiscate your Bitcoin.
1:00:00
So it does look like that's where this is trending, which is
1:00:04
obviously not what we want to see here as Bitcoiners.
1:00:07
But again, be careful what you wish for.
1:00:10
Now this is where things get a little interesting is
1:00:13
essentially what Simon Dixon has been saying.
1:00:15
He quote tweets us and he goes the US Bitcoin strategic reserve
1:00:19
strategy isn't about buying Bitcoin, it's about seizing it
1:00:23
and later selling it back to the financial industrial complex
1:00:25
through auctions. BlackRock and other Wall Street
1:00:28
nodes in the proof of weapons network will be controlling
1:00:30
shareholders and debt holders of strategy.
1:00:32
The financial industrial complex doesn't just want your Bitcoin
1:00:36
and wants to hold and leverage your Bitcoin to your mission.
1:00:39
Keep your Bitcoin in self custody.
1:00:42
Don't use their financial weapons of mass destruction,
1:00:44
disguises, products, Just follow the money.
1:00:47
Now this is where we constantly tell you guys self custody your
1:00:52
Bitcoin. What we are seeing right now, I
1:00:55
think it's very obviously I, I'm, I'm I'm on board with Simon
1:00:58
Dixon. I think what we are seeing right
1:01:00
now is essentially a new phase. And he's not the only one saying
1:01:03
this. I forget who was tweeting this
1:01:05
over the weekend, but we have entered a new phase of Bitcoin
1:01:09
adoption in the sense that we had in the early days there was
1:01:12
Bitcoin and then Ethereum came out and then the ICO craze came
1:01:16
out. And that was just a, you know,
1:01:18
disguised way of stealing your Bitcoin.
1:01:20
And then then we got, you know, the, the NFT kind of Ordinals
1:01:25
thing, another way to get your Bitcoin.
1:01:27
Before that we had the, the defy kind of degeneracy.
1:01:32
And now the new product is these, you know, Bitcoin
1:01:36
exposure products, whether they're ETF, whether they're
1:01:38
Bitcoin treasuries. And there's a huge headline, I
1:01:41
forget where it was this weekend, but it was going around
1:01:43
all over Twitter essentially that people that bought Bitcoin
1:01:47
treasuries are have essentially lost like $17 billion right now.
1:01:51
So you you are starting to see that there is not necessarily
1:01:57
concerted effort to stop Bitcoin, but there is this
1:02:00
effort to kind of centralized the control of Bitcoin.
1:02:04
And remember that when BlackRock came out and said, hey, we're
1:02:08
going to do this ETF, there was that one line that made all
1:02:11
Bitcoiners kind of freak out and say, hey, look, we can choose
1:02:14
whatever chain we want and everyone's like they're going to
1:02:16
hard for Bitcoin Now it seems like we are in the then they
1:02:21
fight you stage, but of course they, you know, kind of play
1:02:25
along, they tag along, they embrace you, but all the same
1:02:28
time. If Bitcoin.
1:02:30
Trying to acquire Bitcoin. If Bitcoin fails, they fail too.
1:02:34
So. Well, I don't know about.
1:02:36
I don't know if BlackRock will fail if Bitcoin fails.
1:02:39
I mean they. Won't fail, but they have a lot
1:02:41
of assets. Best performing right now
1:02:44
BlackRock is incentivized to keep accumulating Bitcoin and
1:02:50
it's their best performing ETF right now.
1:02:53
So you know just in practical matters, I don't think that they
1:02:57
would be so greedy I to be. I want to believe that they've
1:03:01
learned their lesson with the with the housing market.
1:03:04
Maybe they haven't because they're measuring it in Fiat,
1:03:07
but I want to believe that they that whatever they think is good
1:03:13
for the goose is good for the gander, and that if people are
1:03:18
using Bitcoin, then that means that Bitcoin will be successful
1:03:22
and that they can keep accumulating and being a huge
1:03:25
holder or whatever and keep making their money.
1:03:29
Yeah. I mean I've been saying
1:03:30
something very similar self. I've been I've been essentially
1:03:35
saying that even though I don't trust BlackRock or the Larry
1:03:38
Finks of the world or any bank or Wall Street greed to fully be
1:03:43
Co opted by Bitcoin and be aligned completely in the
1:03:47
Bitcoin ethos or be ideological Bitcoiners.
1:03:50
I do agree with you on on that front that they're not gonna
1:03:54
they're not gonna slay the golden geese here like they are
1:03:56
incentivized to see. Yeah, exactly.
1:03:59
That's what I was saying for. That what I think is, you know,
1:04:01
maybe in the future when people are starting, like in one or two
1:04:07
generations, let's say people are reaching the end of their
1:04:11
life, They're spending their Bitcoin because they want to
1:04:14
live their life and leaving a little bit to their
1:04:18
grandchildren and then their grandchildren leave a little bit
1:04:21
less to their grandchildren or their kids or whatever.
1:04:24
You know how inheritances go, a lot of people squander it
1:04:29
eventually. That's how I could see the
1:04:32
government and these huge institutions just repeating the
1:04:35
same cycle of the bank. However, if people are not
1:04:40
buying that Bitcoin, then what assigns the value to it?
1:04:44
You can't just base it off of pure scarcity.
1:04:47
You have to base it off of like demand as well.
1:04:50
And so they may hold some sort of, you know, majority control,
1:04:55
but they're going to have to share that majority control with
1:04:58
other huge institutions and other governments and other
1:05:02
people who, you know, like there, there are a lot of
1:05:05
wealthy and powerful people out there in the world.
1:05:08
It's not just 1. So I think the notion that they
1:05:11
would hard fork Bitcoin is very. Improbable.
1:05:15
I don't think they're going. To I think that's extremely
1:05:17
improbable that they would soft 6102 like OK, good luck
1:05:21
confiscating your Bitcoin like they can't put all of us in a
1:05:25
box. Well, that's the whole thing.
1:05:26
So they don't have to confiscate your Bitcoin.
1:05:29
All they have to do is incentivize you to give them
1:05:32
your keys of that Bitcoin, and once it's in there, it's a black
1:05:37
hole and they won't have to give it back.
1:05:39
That's kind of the whole idea. But that's what I'm saying, like
1:05:42
how would OK, they can only do that two ways.
1:05:44
They can do that by either paying you or putting you in
1:05:48
jail. And they're not going to put
1:05:50
everybody in jail. Like what are they going to do,
1:05:52
start genociding Bitcoin? Hey, yay, yay yay yay yay
1:05:57
Sophie. Don't think they're going.
1:06:00
To do, yeah. That is a very far stretch of
1:06:04
the imagination. Am I not allowed to say?
1:06:08
That yeah, selfie. Selfie is crazy.
1:06:11
Selfie is crazy. Seems like it seems like too far
1:06:15
of a rabbit hole and a conspiracy theory to me that
1:06:19
that the government would do something like that because it's
1:06:24
not in their best interest. You get what I'm saying?
1:06:27
I don't know. It's in their best interest to
1:06:29
take something very valuable from you.
1:06:31
It is in their best interest only if that thing is valuable
1:06:34
to other people. They.
1:06:35
Can't just hoard. It they can't just hoard it all
1:06:38
And then you know what? Because it's like, OK, fine, if
1:06:41
you take all the money in the world and and nobody else can
1:06:45
use it and you just get to do everything like the what's the
1:06:48
good in that? You like people are either going
1:06:52
to find something else to trade in and there there's going to be
1:06:55
like some new like version in 200 years of Bitcoin or like,
1:07:03
you know, people are going to fight back.
1:07:06
I just don't see it happening. It doesn't seem economically
1:07:09
feasible from my perspective. Well, the best way to fight back
1:07:13
against this guys. Bitcoin into self custody?
1:07:16
Maybe get yourself a big key and put it into self custody.
1:07:20
Yeah, 100%. All right, guys, I'm going to
1:07:26
wrap it up here 'cause this this stream software and I need to
1:07:32
yeah, any. Anyways, anyways, guys, this was
1:07:36
the Monday show, October 20th. I think it's episode 1357.
1:07:41
I'm glad we got a stream going on for you guys.
1:07:44
The stream was a little different because it seems like
1:07:46
there's a, you know, AWS kind of outage going on.
1:07:50
Our traditional stream software wasn't working, but at least I
1:07:53
got the show going the first time doing it on OBS.
1:07:56
We we made it happen anyways, so.
1:07:58
And to my last point, talking about self custody, since we
1:08:01
don't have the show outro this big, this show is brought to you
1:08:05
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1:08:10
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