Latest / The Aaron Day Show / The Freedom Movement Funded Its Own Prison

Transcript

The Freedom Movement Funded Its Own Prison · The Aaron Day Show

• So the show will regularly be Thursday at six PM. Trying to do this twice a week is a bit much typically since they end up being usually three or four hours. But on top of that, as you will see, we have a lot of projects brewing, launching at various phases, as well as a lot of travel and speaking coming up. So I want to make sure that we, you know, we have a quality podcast every week and, you know, hopefully we'll be able to get more interactivity as well. More people, participating in the live chat at the end as well. And I encourage you, if you had an opportunity to listen to those songs, we're going to be doing this for each of the six sites, picking kind of an anthem. I have a ton of songs. I mean, I pretty much listen to music that we create all the time in the background while I'm working. So there's just a constant stream of new music. And then we kind of curate a top list. And then we're going to put it up for... for a vote so we're starting with the own nothing.org website which i think is going to be kind of the lead website that links to all others It's essentially a site that allows you to do your own diagnostics and figure out your own sovereignty score. So how much of your own money do you own, your own property, your own attention? What are you looking at in terms of government surveillance, education surveillance, and so forth? And so... Now, of course, the diagnosis is part of the exercise, but the more important part is then to provide tools and a network of resources. Some of the resources we're going to create, but most of the resources will not be us. We're going to be bringing in other solutions and helping people figure out, based on where you are, how you can increase your sovereignty. So as an example, one thing you can do is move. And I know for a lot of people, that seems impossible. And for some people, it may be impossible. It's easier than you think. If people are concerned about liberty, I don't know how you could stay in New York City, for instance. But even if you can't move physically, you're going to be able to learn things like you can form trusts and legal documents. You can shop jurisdictions. Even if you're physically located somewhere, you can actually engage in commerce and use legal services that have more favorable terms in a different state. This is just one example. Obviously, moving is one, but figuring out which technology you use, uh once you understand that you don't own the money in your bank or you don't own your four or one k then you can diversify into assets that you actually own and have in your own self-custody on and on and on so i think this is going to be i wanted to create something that that everybody could use and that could help people no matter where you're at so it's not an all or nothing oh i have to move here i have to do this big change everybody can start making small incremental changes so that's why we We picked that one. Tonight's episode may turn out to be the most important one we've done so far, at least in terms of it being a tipping point. If you haven't followed this show much, the whole purpose of everything that we're doing is to warn people about the big threat of technocracy. And the way that I frame this is that we don't have a battle of red versus blue or black U.S. versus China, it's really a battle of freedom versus technocracy. And free will is literally at stake. It's not metaphorical. Under a technocratic form of organization, you know, essentially you have scientists and engineers are now increasingly AI making decisions for you from the top down using social credit systems, digital currencies, CBDCs, AI surveillance to enforce it all. And this is an ideology that started almost a hundred years ago, but really has only picked up steam recently because of advances in technology. This is not the kind of, uh, thing that you could implement if you didn't have the internet or you didn't have the ability to track or implement this type of system. And technology is a dual-edged sword. On the one hand, it can be used for freedom or liberation, or it could be used for complete tyranny. And unfortunately, we are headed down the tyranny path. And I've spent the last three, almost four years, first starting off warning people about central bank digital currencies and the idea that if you had money that could be tracked, programmed, and censored, through central authorities, that that would be the gateway to these other systems. And in researching that and understanding what's going on in the US and abroad, I then realized that CBDCs are just one part of a broader technocratic system. So what I've been doing is we have, my wife and I have been going around the US and then we've been traveling more overseas, not just warning people and educating people about technocracy, but teaching them how to exit the system so that you don't get stuck in it. How you can use, for instance, instead of getting stuck with the CBDC, you can use a privacy coin. Or more specifically, now that we're dealing with these stable coins, which are tokenized fiat, a digital token that represents the dollar that can be programmed and tracked. We have as a counter to that Freedom Dollar, which is an algorithmic stable coin that's not backed by the US dollar that can't be tracked and can't be censored. So we've been doing workshops and really trying to help people and to scale up the effort just around awareness and then also helping empowering people to take action. Unfortunately, we're kind of in a worst case scenario right now, which is we're in the process now where we're going through rapid tokenization. So if CBDCs or stablecoins are tokenized fiat, What is going on right now in the United States Congress is they are aggressively pushing the Clarity Act, which was an act passed first in the House, and now there are two versions of it in the Senate, and eventually they'll reconcile this. But essentially what this will do is it will create CBDC-like surveillance, all of that tracking. But it won't just be applied to money. it will apply to everything that you own, every asset, commodities. So when we talk about commodities, we're talking about just not just gold and silver, all of your investments, food, energy, So money represents five percent of all of the assets on earth and it's these other categories and other commodities that represent the rest. This legislation will essentially centrally control and tokenize all of that. And I've been warning about this. My book, The Final Countdown, talked extensively about tokenization. It talked about efforts that were going on with the Bank of International Settlements, a project called Regulated Liability Network. And a lot of people were worried. that this would be something that we would have pushed upon us through the UN and maybe the World Economic Forum. And in many ways that actually maybe is true. However, it's actually happening without resistance in a way. And what the technocrats have figured out how to do is to do it privately. So you take private solutions, but then put those private solutions under government control and government surveillance. And it has been progressing without resistance. Right now, this bill that they were almost going to vote on a couple last week. I think it was last Thursday. The intention was to actually pass this Senate Finance Committee version on Thursday. It got derailed at the last minute. And tonight, I'm going to go through a lot of the details on this. This is the hill to die on. This is where... I have been putting all of my time and effort, but now we are facing it head to head. The things that I've been worrying about and warning people about are now tangibly mainstream news. The tokenization of assets and how that's going to happen was one of the two main themes at Davos this year. And no, this is not pro-freedom. This is not pro-crypto. Your number is not going to go up because of this form of tokenization. This kind of tokenization is how you end up owning nothing. I mentioned the own nothing site, which started out as a tool to help people realize what rights they've given away with these click wrap agreements that we sign, like, two hundred of them a year. Microsoft agreement, Netflix agreement, rental car agreement. your stock brokerage account, everything. Nobody reads any of it. And when you do read it, I actually shared a post and it is up to like five point six million views. Ironically, it was a an analysis of X's new terms of service, which says they can take your data, use it to train their A.I., they have ownership of that information they can turn over your information including dms to government entities at their discretion if you try to figure out how their algorithms work to figure out how censorship might work that is a violation of terms of service if you have a dispute all disputes go through one court in a place in texas a small town in texas and the maximum damages that you're eligible for, I think it's something to either a hundred dollars or two hundred dollars. So anyway, this, that post went viral, but these click wrap agreements are kind of the, the initial groundwork for the advancement of technocracy, because first we gave away our rights legally and, Then they create these digital tokens that then represent our assets and our rights through these ClickWrap agreements. And this gives them an incredible amount of power and leverage to program, transfer, do whatever they want with all of our assets at scale. So when I first published my book, I was warning people about various pilot projects. Now, this is just moving at light speed. And the funny thing is, people think that we beat the WEF. that we defeated Klaus Schwab. Well, the new head, the new chair of the WEF is Larry Fink. And Larry Fink is talking about tokenizing all assets. They're saying, now I've been saying this for six years, that everything will ultimately be tokenized. Tokens don't have to be a bad thing. In the same way, digital currencies don't have to be a bad thing. Privacy coins and the original intention of Bitcoin of separating money and state was a brilliant idea. Unfortunately, rather than having that approach gain momentum in Steam or argue it was hijacked, that the technocrats have gotten a hold of that. And so what we're getting pushed through at scale is the centralized authoritarian version of tokenization. So the stuff I wrote about in my book, the timetables here are actually accelerated. So this is one of those things where people who thought I was nuts when I wrote the book and then ran for president to bring awareness to this issue, I was not... I was not pessimistic enough about how quickly technocracy is growing and how quickly they would roll this out. And the real trick has been to just basically switch the branding and to make it look like it's populist, even though it's literally the same technocratic firms and people pushing it. So this is... absolutely critical this is kind of the end game so when you think about the memes that people share where it's like okay you know you see somebody going to the grocery store and their credit card is denied or their payment is denied because of something that they said we're talking about the ability to shut off everything that you own not just your money and that is being rolled out excuse me this is uh technically already happening. And now they're pushing it as a matter of policy and they have presented it as pro-crypto. They've presented it as pro-American. Pro-innovation. And so it's like most things in politics. The actual truth is the opposite of their language. So tonight, I'm going to go through quite a bit of information. I'm going to talk about the Genius Act, which is part of it. There are really four pieces of legislation here. The Genius Act, the Clarity Act, and then these two bills in the Senate. I'm going to talk about what they mean, what the timetable is, and what we can do about it. I will say I've gotten some traction. I had a tweet analyzing the bill that came out of the Senate Finance Committee. That one got six hundred and fifty thousand views. I have tons of interviews lined up. I probably have at least ten interviews lined up so far. I actually just found out today. looking in my inbox of people that I don't follow or that I have a ton of other requests. And I was wondering... Then I put out another post last night because the agriculture bill came out related to this tokenization scheme. And that post has over a hundred thousand views. And so what's interesting about this is... I'm one of the only people that has been talking about this consistently for a long period of time. And yet I've wondered, because I have seen a lot in my social media, in my posts, in my feed, about people supporting this legislation. I'll look at a tweet that's got a thousand likes or, you know, five hundred retweets, and then you'll see these people sharing this stuff. And what it turns out, which I'll show you the analysis of, Almost all of this is fake. There is a network of hundreds of former government employees that worked for the SEC, which regulates securities, stocks and bonds, and the CFTC, which regulates commodities. There's a revolving door. Those people are working now for crypto firms. They're working for banks. They're working for lobbying companies. There's millions, tens of millions of dollars being spent on the lobbying effort. Much of the traffic that we're looking at, it's bot driven, it's fake. So in going through this, even in my own tweet that did over half a million views on this, Almost none of the comments were against what I was saying or in support of the bill. It was very few and very far between. And then when you dig into who's behind the account, you'll find out, oh, they're associated with a whatever, digital chamber of commerce or one of the groups. There aren't many people that are speaking in favor of these bills that aren't getting paid or fake, which is interesting in its own right. So, I'm not necessarily optimistic that we're going to stop the bill, although we might. We might be able to have an impact because there's infighting and because there are delays. And if we can teach people what's in these bills and move beyond the political propaganda and explain to people what the political propaganda is, give them simple guidelines so that they understand what this means, then we might be able to have some impact. But in the end, of course, the whole point is still we have to exit these systems. The root of the problem, whether it's a stablecoin or a CBDC, fiat is the root cause of that system. So we need to exit that. And we need to exit a lot of these other systems. And so I'm going to go through this now. Feel free to chime in with any questions. If you would, please like and retweet this. We're at about viewers right now. And I think because I was gone for a week and a half or so, I know a lot of people were emailing me saying, Oh, hey, are you not doing the show now because you're running for Senate or whatever it happens to be. So I think many people aren't aware of this. But I think this is probably one of the most important shows, if not the most important we've done so far. And this is the launch point. So everything from here is going to be focused around everything that we've been talking about of the different, you know, technocracy Atlas and OSR and all those other things, those are all solutions to this centralized tokenization thing. It's just that they're now accelerating that. So, so we don't have until twenty thirty. We really have this year to get enough people building parallel systems to where we can scale because Digital IDs are going to be rolled out to over half of the globe by twenty twenty seven. In fact, real ID is expected to be fully digital in all fifty states by twenty twenty seven as well. So this is so this is real. So we are in the kind of the final stages here. So I know some of this is complicated. This is part of why they're able to pass it. Because some of it is technical and there's a lot of buzzwords and propaganda and everything else associated with it. And they've done a hell of a job of making this look like it's patriotism and crypto. Just like they have people convinced that Bitcoin is freedom money when it's now trackable surveillance money. digital gold. So there's so many layers to cut through to even get somebody to understand the current assessment of where we are. So I'm going to try to go through this. I have these slides, but I was working on the article all day. So I'm probably going to skip around a bit. Now, before I get into that, I do want to say that there are some events coming up that I want to make you aware of in case you want to catch them. I'm going to be in Mexico. uh let me see what the dates are on this i think it's february the eleventh through the fifth fourteenth or i can't see because this thing is in the middle um hold on let me that's that's really annoying um february the twelfth through the fifteenth in mexico city i'll be speaking at minaratopia and i'm sure at this point most of my conversations are going to be some version of what we're going to be talking about tonight Although usually I like to talk about the solutions. Tonight, unfortunately, I have to talk a little bit more about the problem and the threat because it's imminent. So anyway, this is one of my favorite events. So if you can get to Mexico City, I encourage you to do it. Great community. Doug Tooman, who we both co-sponsored a tent. at pork fest i'm a huge fan of doug he puts together he and his wife put together a fantastic event and mexico city is a low-cost place to travel so um you know if you're thinking well this might be too expensive for me uh check it out check out the flights they're probably less expensive than you think and uh easier to find I'm then going to be speaking a couple of times. I have anywhere from two to four talks at Anarchapoco, which is in Puerto Vallarte this year at a nice resort. So that's February the through the twentieth and then on the twenty second, I believe, of February, the Sunday after this event, I'll be speaking at the Crypto Vigilante. I think it's a one day conference. It's related to this. It's kind of an extra add on to this conference, but that's a great group. You might have seen my interview with Raphael, which was one of one of the better interviews that I've done. So that's going to be more of a crypto focused portion of this. Then in March, March the sixth through the seventh, I'm going to be in Lisbon, Portugal at the Parallel Society Conference. And so Sterling Lujan invited me to this. You may remember he was on the show last year and has been delving into network states and really probably knows more about this topic. than anyone I know. So this is going to be a great event. I'm looking forward to this in part because I don't know most of the people. It's going to be truly educational for me. I'm going to learn quite a bit and meet some new people. I encourage you to look at that event because it's part crypto and then it's part art and music. So it is not just a... lectures or anything like that. It's actually kind of a very creative event. And then I will be giving a keynote speech of one form or another at the Libertarian National Convention, which is May the first through the twenty fifth in Grand Rapids, Michigan. So this is going to be all of the various libertarian chapters from around the United States. So I'll be speaking, but there's also going to be a crypto corner there that Zeno is sponsoring. So Zeno is going to be there. The Zeno ecosystem, the entire ecosystem. So you're going to have Zeno, Freedom Dollar, Confidential Lair, everyone there. And they've got basically an entire section of the convention right off of where the main convention is happening. I think that's a great opportunity for... introducing that group. I went to the Libertarian Convention a couple of years ago when Trump announced that he was, well, at that time, going to commute Ross's sentence, but ended up giving him a full pardon. And, you know, the thing about it was people cheered that on, but then most of the rest of the time, people were chanting, end the Fed. That was probably, certainly the most popular rallying cry of that group. So I think if all of the libertarians across the country be made aware of the fact that you know you don't have to end the you can end the fed by not using the dollar by not participating in it and so i think freedom dollar and xeno and confidential layer will be exciting to introduce to that group so in any event that's um quite a bit of a you know monologue here before we get into this but That's what's going on. And so I hope there's an opportunity to see some of you at these events. I know many of them are going to be live streamed. But some hardcore people, obviously, at these events that are focused on exiting the system, focused on privacy coins, privacy technology, and libertarian philosophy. So with that said, even though I'm going to be at the Libertarian Convention tomorrow, my political campaign, which I, you know, I'm still exploring, I haven't decided, you know, which if I am not going to run as a Republican or Democrat, but I don't know if I'm going to be an independent or a libertarian. So the fact that I'm speaking and participating in that conference isn't necessarily an indication of how I'm going to run if I run in New Hampshire. And that would be purely for strategic reasons. I mean, ideologically, I'm Well, usually I would say I'm mostly libertarian, but I've had issues in New Hampshire where there are left libertarians and I don't sign up for left libertarians. So I guess it depends on what's going on within the party. So, all right. So with that out of the way. um let's get into the details here and i am going to have to navigate a little bit back and forth between these documents but we have two bills going on two main bills so you can really look at it as genius and clarity and the genius act already passed so the genius act which i have talked about many times as being a backdoor cbdc That is passed. That is signed into law. We have a backdoor CBDC. And in fact, you can go to the Freedom Dollar website. I was just looking at this the other day. They have a tracker that shows you big things that are going on with respect to stablecoins like Tether and USDC being seized. They're being seized constantly because, again, they're transparent, they're trackable, and now they're under this Genius Act regime. So... Check out Freedom Dollar website and check out that tracker and stay on top of that. It's pretty eye-opening because what I'm seeing is kind of an escalation in stablecoins being frozen and confiscated. So again, it's just a little bit of a background. And part of this also, I had to change. I was up until about four in the morning working on this article. I had the article almost done. And then the Senate Agriculture Committee dropped their version of the bill. So let me explain a little bit about how this works. So the Genius Act, again, it's the stablecoin bill. It's the backdoor CBDC bill. Then there's the Clarity Act, and the Clarity Act is for the tokenization of all other digital assets that aren't stablecoins. And that breaks into two different chunks. The way that those types of assets are regulated today, there are two kind of competing groups here. You have the SEC, which is really kind of out of the Senate Finance Committee, And that's stocks, bonds, that type of thing. And then you have the CFTC, which comes under the Agricultural Committee, which is, again, the CFTC manages commodities. So you would say, well, why the Agricultural Committee? Well, commodities, food is a major commodity. So you already have... These big regulatory regimes, kind of before you even think about tokens, we have, believe me, an excess of regulation in all of those areas. I've spoken at length about more about the SEC than the CFTC, but just how absurd it is. Unless you are what's called an accredited investor, unless you have a certain net worth, You are ineligible to invest legally in startup companies because the government thinks that they're protecting you. This is what they say. They say, we want to protect these poor, innocent people from being fleeced by these early stage investments. In other words, you don't get the opportunity to invest legally. in Amazon or Nvidia or whatever company, when it's a startup and the shares are one cent each, you don't get that opportunity. You have to be protected from that. But you know what? You can buy all the lottery tickets you want. And so the SEC has always been about protecting the incumbents, protecting investment banks, protecting venture capital firms, protecting private equity. Now we're just moving into a new realm where which is tokenization and tokenization could have been a great way still can i mean i guess if you do privacy tokens and kind of look at this from a xano approach and defy which we'll get to could have been a uh leveled the playing field there i this was something i was always fast the reason i like tokenization is from my own experience as an entrepreneur raising a whole bunch of money. I raised money from my first company. We had one hundred and eighty. They're called angel investors, small investors. And I think we raised something like fourteen million dollars. And this this was a over a number of years. Which was pretty unheard of at the time, because this was like the mid nineties and we had to go through all this paperwork. Every state you get a new investor, you have what are called blue sky laws. You have to have An investor questionnaire where, you know, the investor proves to you that they're accredited, which it used to be they could just say they were accredited, sign a piece of paper, investor. Oh, yeah, I have a net worth that meets this. And it's kind of a back then it was kind of by the honor system. Now, because of more financial surveillance and because of the incumbents wanting to truly lock people out, there's now more actual verification of, do you have those assets? Do you make that amount of money? So one of the reasons I was interested in tokenization is the ability, if you could raise money outside of the SEC, this would empower small businesses, right? This would be a huge win for the individual entrepreneur. You don't have to have a company that needs twenty million dollars worth of capital from a venture capital. If you have just a small mom and pop business, now you could have investors that could easily invest in your company. And I knew from my own experience of how difficult it was for me. I mean, I know it's almost impossible Because it could cost twenty five, thirty thousand dollars just in legal paperwork to get the documents in place to be able to raise money. Well, if you are bootstrapping a company and you're trying to get your company off the ground, now you have to come up with. I mean, this is truly how this works. You have to borrow money from friends and family or use credit cards just to pay the legal fees to comply with the documentation so that you can get then only accredited investors. which if you have a small business, large investors may not be interested in it because they're trying to put a lot of capital to work and make a return on a large amount of capital. You may have a perfectly good business that could generate a reasonable rate of return, but it doesn't fit the criteria of these institutional investors. And so now you're sitting here paying all this money in legal fees and then trying to, it's a horrible system. So tokenization could have improved that. And in fact, in many ways, we had the ICOs that happened in the crypto field, which of course there were some bad actors, but at the same time, it was really cool because you were seeing experimentation. You were seeing some scams, but you certainly see scams with the SEC as well. And I will point out that Bernie Madoff at one point was, I believe, in charge of the SEC or was involved with the SEC or was involved with one of the... and ran one of the stock markets. So, I mean, the... Like in most cases, the laws don't protect the individual or the investor. They're there to protect... And so tokenization was a kind of a potential end run on that. And that was what was exciting early. Well, the SEC cracked down on that. And they cracked down on that in a big way. And Biden, it happened before Biden, but Biden really tightened the screws. And I've spoken about Jeremy Kaufman and what happened to him with his company Library, which was he was targeted by the SEC. And he had kind of an edge case because the thing he was selling arguably wasn't even an investment token. It was a utility token, but he was targeted because of his politics. He was targeted because of his political ideology. But in any event, now with the Clarity Act coming out of the Senate Finance Committee, they want to take the horrendous out of date laws that benefit the incumbents in the non-tokenized space then apply that and even ramp up further surveillance and tracking through tokenization so it's completely destroying the value and the fundamental point of tokenization and in the agriculture committee with the cftc they're now trying to do the same thing they want to take the laws and their power that they have before this whole tokenization thing came about. And they want to grow their departments and they want to grow their power. So now what's going on with the Clarity Act is you have the Senate saying, well, we don't like the Clarity Act. Essentially, we want more We want more tracking. And the SEC people want more control over the tokenization aspect. And the CFTC people want more control over the tokenization. So in essence, in some ways, you actually have a bit of a... of a turf war but in the end the cftc and the sec are going to expand in power and the financial surveillance on all of our assets now which will be tokenized will be will have even more tracking more programmability. I mean, we're talking about, and I'll get into some of the details of the bill. We're talking about real time tracking with five year history of look back of all of the transactions. So they're, they're monitoring who is doing what in real time and holding those records for five years. so for most people they don't know how bad the system was pre-tokenization it is a technocratic nightmare post tokenization so we'll get into more of that again as i said this Issue for me, I dropped my entire life to warn people about CBDCs and tokenization. And I didn't think that the tokenization aspect would happen at this speed and without... resistance. So, and again, not with real support, AstroTurf support, but there's no resistance. And it's because people just don't know. So again, this isn't just about your money. This is about your house, your car, your retirement account, your groceries, all of it. So these people are now in Davos. And I'm seeing this stuff on my feed. Oh, the CEO of Coinbase is at Davos. He's telling bankers that Bitcoin is the future. And he's really giving it to them. And we'll dig into this. He was one of the biggest funders of the legislation. Coinbase was. Directly and through other organizations. their purpose for the regulation is not to improve your freedom or to improve your privacy it is to create a regulatory barrier that makes it difficult or if not impossible for small cryptocurrency exchanges to be able to comply with the government so i have been beyond frustrated watching people put him on a pedestal. But then again, when I dug into it, I find out they're largely not even real people. He's likely funding fake traffic to prop up his own narrative. So no, Brian Armstrong from Coinbase, Peter Thiel and Alex Karp from Palantir are not infiltrating Davos. It's the other way around. And in some ways, what's happening is Armstrong is using crypto and the hype around crypto to negotiate him getting a ticket and having a seat at the table at Davos, not to change it, but because he wants to be a part of it. And this is the... I've said this before. Early on... When Bitcoin came about after the financial collapse, people looked at these bankers and central bankers with disgust. And it turns out it's actually envy. These people want to be them. They don't want to fix the problem. They don't want to replace them. or in any way transform it they want to become part of it so it's not the defeat of technocracy it's a victory lap and i don't have it here but i do have pictures and you can see them on x of armstrong uh at davos i also have a picture of him with nancy pelosi um and what and the kinds of things that they've been doing from a lobbying perspective are disgusting they're also incompetent at it that's a whole other But, you know, again, I don't want to dwell on it too much, but the early participants in Bitcoin would would I'm sure are mocking this or well, they would be if they hadn't been co-opted by it. So. So in the end here. So we are the product. So he's not there to protest. He's there to get a seat at the table and we are the product that he's selling. And so again, what this comes down to, once you start tokenizing assets, you now have the ability to track and program and censor these tokens that represent assets at a very, very granular level. And so what this means is real-time trade surveillance. It means five-year transaction records, data sharing with foreign central banks. So if you are of the opinion that this is a pro-America thing and that somehow we're defeating the globalists, part of all of this involves sharing the data internationally with foreign central banks. And it includes emergency freeze and liquidation powers. So even if you believe in the administration or whatever that means, I think it would be foolish for someone to think that even if you believe that your guys are the good guys and they're not. But even if you believe that, you're one election away from realizing you've just handed over the ability for any regime to have the ability to program and control everything that you own. That should be frightening. If that doesn't concern you from a technocratic perspective, I don't know what will or what does. So... So this is what's going on with the bill coming out of Tim Scott in the Senate. Then you have the CFTC bill coming out of the Agriculture Committee, Senator by the name of Boozman. And in this model, the CFTC has exclusive jurisdiction over all spot transactions in the marketplace. Your crypto can only be held by government approved custodians. every employee must individually register with the Fed. And some of this is kind of nuanced, but I've talked about this years and years ago, but you have licensed broker dealers and you have a whole bunch of different people that work in this financial industry. And now more people have to be registered with the Fed, even that work within these financial firms that are these intermediaries. So in essence, what we're saying is, If you are going to have any of these digital assets, the CFTC controls it. You have to get it through a custodian. And there's more surveillance and tracking even of the custodians themselves. Now, there's a big debate on this. One of the things that people complain about with the summary is that I said basically self-custody is dead. It doesn't mean self-custody is illegal. I'm not saying self-custody is illegal. you still can individually have your own keys. But what difference does it make if the minute you buy something or interact with any of these exchanges or other entities, your information is tracked and then communicated with foreign central banks and throughout an entire network of people globally, right? So it's kind of like I say to these Bitcoin maxis that are like, well, they can't take my keys. And it's like, okay, well, the US government has three hundred thousand Bitcoin. How did they get them? If they can track what you have and they can come in and threaten you with throwing you in a cage or you give up your keys, so far, most people give up their keys. That's usually kind of the way that it works. So I'm trying to... People are trying to spin all kinds of things. Well, at least this protects self-custody. This is literally some of the talking points here. And I want to take a step back and say, we've had self-custody for If this is supposed to be pro-crypto legislation, why are we losing rights? Why are we getting more surveillance? Why are we losing privacy? How is this pro-crypto? Pro-crypto for who? Oh, just because it's clear now? Is it better to be clear that you have no rights and no privacy than for it to be vague? This is literally one of the things that they're selling as one of the selling features of this. So it's... So you'll see me posting a lot on this. And I will say this. I challenge anybody to... Well, not anybody. I don't want to waste my time. I will challenge Tim Scott. I will challenge Boozman, Brian Armstrong, any of them, all of them at the same time to debate on this. They'll never do it. But happy to debate them. Happy to debate these lobbyist firms and these talking heads in the digital chamber of commerce and all these other people. They'll never do it. But if you want to help, tag them and say, hey, debate me on this. Because the way that they're trying to pigeonhole and say, well, it's not that bad. No, everything's tracked. you can still have your own keys, but you can't spend your money anywhere without it being in this complete dystopian system. And by the way, You can have self-custody for now, and I'll get to that in a second as well, because I want to talk about political language and how politics actually works. And I want to cut through the propaganda and the bullshit, because I'm fed up with it. I don't know if anybody actually buys it, but they must, because politicians... keep on doing it. So I'm going to go through a dictionary of terms used by politicians and explain what it actually means so that we can stop allowing them to use these as rah-rah terms that get associated with positive benefits for the people because they're not. So together... The Finance and Agriculture Committee bills create the following. Every transaction is tracked. Every holder is identified. Every custodian is licensed. Every employee is registered. But it's not regulatory clarity. It's the end of financial privacy. So I'm going to go... Well, hold on. I actually want to take a step back. I'm going to switch it back. I'm going through this long document here. And I want to make a different point altogether, which is... So one of the things that... Hold on, let me try to find the right section here. Okay, here we go. So this whole idea, and I've never heard this kind of language described before. I mean, it was called the Stable Coin Act, or it was called the Genius Act or the Clarity Act, whatever it happens to be. But now they're calling it the Market Structure Bill. If you see Cynthia Loomis or whatever, she'll say... Well, we're going to pass the crypto market structure bill. Trump will say, we're going to pass the crypto market structure bill. We're going to be the best place in the world to do crypto. So I'm going to question the premise. First of all, markets don't need structure. Markets emerge. Adam Smith called it the invisible hand. Billions of people engaging in voluntary exchange, serving individual interests, collectively producing outcomes no central planner could achieve. This has been able to happen throughout history, throughout economic history, without any Senate committee required. So my first question is, why do we need congress to structure a market and by the way when it comes to congress structuring a market let's look at their track record these are the people who covered up jeffrey epstein's crimes for decades while he trafficked children to the powerful these are people who ran up thirty eight trillion dollars in national debt which is the equivalent of a hundred thousand dollars for every man, woman and child in America, including the ones who can't vote yet. These are people with constitutional power of the purse who've presided over a ninety six or ninety seven percent loss in the purchasing power of the dollar since the Federal Reserve Act was passed. So that means a house that cost thirty three hundred ninety five dollars in nineteen thirteen now cost four hundred and twenty thousand dollars. These are the people who openly engage in insider trading, buying and selling stock based on information they receive in classified briefings, then exempting themselves from laws that would imprison you for the same conduct. You see Nancy Pelosi for details. These are the people who maintained a secret taxpayer-funded slush fund to settle sexual harassment claims against members of Congress. The Office of Congressional Compliance paid out seventeen million dollars between nineteen ninety seven and two thousand and seventeen to silence victims of congressional predators. These are the architects of market structure. How does that make sense? Make that make any sense? I would argue the market doesn't need structure from any centralized authority based on force at all. But if you did buy that premise, let's look at the track record. These are the worst people in the world to serve this function. And I will say this. I don't know if you guys remember this guy. Senator Ted Stevens from Alaska. I remember he would talk about the internet being a series of tubes. Well, these guys aren't much different. I mean, Tim Scott's understanding of how cryptocurrency works and the purpose of having decentralized peer-to-peer commerce is not indicated in any talk or writing that he's put forward. These people are not qualified. And I know this personally, when I ran for president, I spoke with Cynthia Loomis. I gave her my book. I spoke with Warren Davis. I gave him my book. I spoke with Ron Wyden, Ted Cruz. I've spoken to a bunch of these people. Even Ted Cruz admitted he doesn't know much about crypto and he's light years ahead of everyone else in the Senate. He admitted they don't know what they're doing. So then these people saying that we need market structure from these people, What is the rationalization? And so I know you might be saying, well, hey, look, your principle, this is an ideological thing for you, but pragmatically, we need structure. How are we going to protect people? Well, I say, let's look at the history on that. Not only do we not need market structure, we should be repealing existing laws that are in place, like the Bank Secrecy Act. So let's talk about the Bank Secrecy Act, the first major piece of legislation passed by Congress to regulate this financial industry. The Bank Secrecy Act which includes the know your customer, anti-money laundering laws, all the forms, everything you have to fill out. It costs financial institutions, sixty one billion dollars a year for compliance. That's not government money that is passed to us. Well, those of us that use banks. in higher fees, lower interest rates, and reduced services. So every time you have to wait three days for a wire transfer or you get asked for an ID to deposit cash, you're experiencing this friction. And in twenty twenty three, financial institutions filed over four million or what are called suspicious activity reports. And I've talked about this a lot. You know, any transaction over ten thousand dollars, the Treasury Department automatically gets a report. And this floods government databases annually. Okay, well, so what is the argument that was made? The argument that was made at the time for this was the to stop organized crime. It's to stop money laundering. It's to stop terrorism. Okay, well, how'd that go? Of the suspicious activity reports that are examined, only four percent receive any law enforcement follow-up. A bank policy institute found that ninety to ninety five percent of people reported in these suspicious activity reports were likely innocent. But their financial lives were flagged and they are permanently recorded for suspicious activity that wasn't reported at all. So billions are spent. Millions are surveilled and the system catches almost nothing. The money laundering goes completely unimpeded. Some examples. Wachovia Bank laundered three hundred and seventy eight billion dollars for Mexican and Colombian drug cartels between two thousand and four and two thousand and seven. Not million, billion. The largest Bank Secrecy Act violation in history. They admitted to serious and systemic violations that moved cartel cash through the American financial system for years while filing all of the required reports. What was the penalty? They paid one point nine billion in fines, the cost of doing business. The executives who oversaw the laundering, they got promotions, not prison cells. JPMorgan Chase managed Jeffrey Epstein's accounts for years after his two thousand and eight conviction. They paid two hundred ninety million to settle claims that they facilitated his trafficking operation. CEO Jamie Dimon still running the bank. And in fact, there was a law that no single U.S. bank could hold more than ten percent of the deposits in the United States that was waived. The largest bank by far in the United States and blowing through any kind of any laws or framework. They are too big to fail. He's still attending Davos, still writing crypto regulations, and still now actively participating in hijacking Bitcoin. So this is a system that works exactly as designed. Banks launder hundreds of billions, pay fines for continuing to operate, and the executives face no personal consequences. So for anybody... Because I know a lot... And I don't blame people for this because... do i expect the average person to realize that you know fiat currency is a ponzi scheme and that these bankers are uh the whole system is institutionally captured and so on and so forth no i mean they they you know went to public school probably got indoctrinated and um you know and believe that there's integrity in the system and they they believe that the government is there to help protect them and keep them safe They've been taught that, but it's not accurate. So the Bank Secrecy Act is a disaster in terms of friction. It catches almost no crime. The crime that it does catch, people get a slap on the wrist. It's useless. Now, let's contrast that with, say, what happened to Ian Freeman. Ian Freeman operated a Bitcoin exchange in New Hampshire, helping people sell cryptocurrency peer-to-peer. He had an opinion letter from an attorney, which, by the way, is rare and hard to get. Attorneys don't like putting their neck out there. So a lawyer put together an opinion letter stating he didn't need a money transmitter license. So he actually tried to comply with the law, got a lawyer to say he was complying with the law. So he served real people seeking financial privacy and financial freedom, and he processed roughly ten million dollars in transactions over a few year period of time. The same government that let Wachovia walk for laundering three hundred and seventy eight billion dollars for cartels gave Ian Freeman eight years in federal prison. The same system that promoted HSBC executives after eight hundred and eighty one million in cartel laundering convicted Freeman of unlicensed money transmission and then his appeal was denied. He still sits today in a federal cage. while Jamie Dimon prepares his remarks on responsible stablecoin regulation at Davos. So this entire... situation is absurd. We do not need market structure. The market structure that has been put in place increases crime and it punishes innocent people, period. So I'm sick of accepting the argument. Most people accept the argument that, well, of course we need common sense, bipartisan legislation. I've seen no evidence of such thing ever having existed, but certainly within this financial realm. But there's a deeper question. Even if the members of Congress were saints, which they clearly are not, even if they were honest, competent, and genuinely motivated by public good, they still have no legitimate authority to structure voluntary exchange. When two people agree to trade something value for value, what gives the third party the right to insert themselves in that transaction? And to be clear, what's happening here is very simply a case of They hijacked Bitcoin, and now they want to hijack tokenization. They want to hijack Ethereum. Essentially, you could look at it as this is an attempt to hijack Ethereum in a really simplistic way of looking at it, but to make an analogy. and turn that over to BlackRock and JPMorgan Chase. That's essentially what's going on. And maybe they'll throw a bone to one guy like Brian Armstrong. Maybe there'll be two big exchanges, crypto exchanges, which, by the way, watch. What will end up happening is if this continues, if they're allowed to, if they pass the Clarity Act and they pass all this stuff, Coinbase ends up getting acquired by JPMorgan Chase or Fidelity or one of these other things. And then in the end, we will have just the same financial institutions, except now the underlying infrastructure is more trackable and more programmable. That's effectively what's going on here. So I'm not going to go through... I could go through a lot of this. I'm not going to talk about Bitcoin again. It'll be in the article just as a rehash, but I'll stick to... Other than the fact that Bitcoin will be subject to probably the CFTC based on how this is going. And again, more tracking, more surveillance