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The System Is Breaking: Bitcoin Is the Only Option | Beyond Bitcoin · Simply Bitcoin

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  There's a saying that goes Debt is money that we owe to
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  ourselves. Debt is money we owe to
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  ourselves. We're told debt can be good or
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  bad. We're told that good debt builds
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  wealth and bad debt destroys it. Debt is money that we owe to
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  ourselves. What if the problem isn't which
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  kind of debt we take on? What if the problem is debt
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  itself is money we owe to? Ourselves, debt is the way I get
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  rich. So Buffett saying debt is no
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  good, That's Buffett's plan. This is a great program because
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  what we're saying is find the way that works for you.
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  You know you're fighting with a refrigerator.
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  I'd rather get $25 million in cash to buy the damn place and
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  hire a property manager. Speaking of debt, I would love
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  to hear your opinion on this. We had Dave Ramsey on this
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  podcast and I asked him a question.
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  I want to hear your your thoughts on his response.
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  If you could borrow $1 billion, zero percent interest for 10
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  years, would you? Do it.
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  No, even though you could put. It in treasuries.
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  After. The 10 years you could lock in
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  10 year treasury right now. 10. Or 5%?
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  No, it's not worth it. I don't borrow money.
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  There we go. What do you think about that?
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  That's Dave Ramsey's formula. Unfortunately, he's really short
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  sighted. What he doesn't understand is
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  1971, the US dollar became debt. If you stop borrowing money, the
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  US economy stops. So he says live debt free.
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  He's actually unpatriotic. I borrow money as a patriot
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  because when I borrow money, I create money.
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  So how does that work? Debt is a claim check on the
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  future. When you take on debt, you're
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  saying I will work tomorrow for what I want today.
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  Maybe it's a car, maybe it's a house, maybe it's a latte.
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  Whatever it is, you're receiving the goods or service on the day
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  now for payment of your time later on.
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  Now what if it wasn't just you taking on debt for the thing,
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  but the very dollars that you took out are debt itself.
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  What then? Well, that's the current system
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  that we live in. Are you telling me that the debt
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  I'm taking out to buy The thing is also debt itself?
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  Yes, that's exactly what I'm saying.
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  When the Fed creates new money, it doesn't literally print
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  bills. Well most of the time.
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  Instead it buys U.S. government debt or Treasury bonds using
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  money created out of thin air. The US Treasury issues a bond
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  and IOU. the Fed buys that bond, crediting the seller's account
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  with new dollars that have never been in existence before.
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  And now those dollars circulate in the economy.
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  But they're backed by a debt obligation, the Treasury bond.
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  So the base layer of our money supply is a promise to repay a
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  liability on the government's balance sheet.
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  Every dollar in existence today was born as someone else's
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  liability and a debt based monetary system.
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  The money itself is debt, as it's implied in the name debt
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  based monetary system. When that's the foundation of
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  your system, the only way to keep it alive is to create more
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  of it. Bad debt is everywhere.
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  It's the credit card bill you can't pay off or the student
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  loan that outlives the career that it bought.
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  It's debt taken on for consumption, not production.
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  The irony is that our entire financial system is built on the
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  same kind of consumption debt. Governments fund programs that
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  no longer yield returns. Corporations borrow to buy back
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  their own stock. Consumers borrow to feel rich in
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  a world that's quietly going broke.
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  Now there is such thing as good debt.
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  Good debt is leverage that produces value more than it
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  costs. A tractor for a farmer, a
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  machine for a factory, a rental property that pays itself off.
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  These are all examples of good debt.
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  But even good debt depends on one thing, a stable unit of
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  account. If the dollars you owe are being
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  printed faster than you can earn them, then your leverage turns
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  into a trap. Good debt turns bad the moment
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  money loses me. If you tried to pay for
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  something with a piece of paper, you might run into some trouble.
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  Unless, of course, the piece of paper was $100 bill.
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  But what is it that makes that bill so much more interesting
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  and valuable than other pieces of paper?
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  After all, there's not much you can do with it.
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  You can't eat it, you can't build things with it, and
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  burning it is actually illegal. So what's the big deal?
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  Of course, you probably know the answer $100 bill is printed by
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  the government and designated as official currency, while other
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  pieces of paper are not. But that's just what makes them
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  legal. What makes $100 bill valuable,
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  on the other hand, is how many or few of them are around.
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  Throughout history, most currency, including the US
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  dollar, was linked to valuable commodities, and the amount of
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  it in circulation depended on a government's gold or silver
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  reserves. But after the US abolished the
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  system in 1971, the dollar became what is known as Fiat
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  money, meaning not linked to any external resource but relying
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  instead solely on government policy to decide how much
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  currency to print. The asset that underpins the
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  dollar is just a promise, a promise that's enforced by the
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  world's largest military. We all have to keep attending.
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  The propaganda is true, and we're going after the terrorists
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  and we're the good guys. It's like.
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  Patriotic. It's.
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  The same. Bullshit.
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  It's all bullshit. What's the point here?
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  What does victory look like? And it doesn't look like
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  anything that whole complex is in the business of war.
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  If you're not expending artillery for not creating new
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  weapon system, if you're not doing all that stuff, business
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  is bad. And you can see that whether
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  it's in. Food Whether.
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  It's in Big Pharma. Whatever the best intentions in
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  the beginning seem to run away, and then that system just
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  sustains itself. But the root of all the problems
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  and all the pathologies we see stem from Fiat currency that is
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  corrupted. By oil technology and the
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  machine of war. The dollar's value depends on
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  the credibility of an empire, but that empire's credibility
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  depends on the continuation of the dollar system.
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  Both of them rely on each other. Bitcoin flips that relationship
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  on its head. But before I connect the dots,
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  Keep your power, keep your signal, keep your contact with
• 6:32
  sat123.com. So this Bitcoin thing, it's not
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  a promise, it's not a claim on someone else's time.
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  It's what they call a bearer asset, meaning it's value fully
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  exists within itself. Like gold or silver, Bitcoin is
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  the thing of value. Whoever holds the keys owns it.
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  There's no counterparty, there's no IOU, no central authority
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  deciding what it's worth. Bitcoin's value is enforced
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  through math. A 21 million hard supply cap,
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  for instance. The two week difficulty adjust
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  proof of work system that converts real energy into
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  digital finality. It's a network that captures
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  information truthfully. A global shared Ledger that says
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  who owns what. In a world where deeptakes blur
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  reality and AI can mimic every sound, image or word, Bitcoin
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  stands as a verifiable truth. It says this transaction
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  happened and the value exists and the owner is real and that,
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  believe it or not, is revolutionary.
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  Here's the point. When you hold Bitcoin, you're
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  holding something that owes nothing.
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  It doesn't promise yield, but it doesn't inflict to please some
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  politician. It just is.
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  Bitcoin is the antithesis of debt.
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  It's pure settlement, final self-contained, sovereign.
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  Bitcoin is a tool to build, not to enslave.
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  So maybe the future isn't about escaping bad debt or chasing
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  good debt. Maybe it's about exiting the
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  debt system entirely. Because once you see the pattern
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  that every Fiat dollar in existence is a promise that can
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  be broken, you start to look for assets that can't lie.
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  And Bitcoin doesn't lie. They can't, right?
• 8:06
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• 8:25
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• 8:30
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  story of the old world, a world built on promises and IOU
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  Bitcoin is the story of a new world, a world built on proof.
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  One erodes over time and one endures.
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  Thank you very much for watching this video.
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  If you like what you see and you want to see more, make sure you
• 8:52
  hit that like button below or you can subscribe to the simply
• 8:55
  Bitcoin channel for more content like this.
• 8:57
  We're coming up with it every single day of the week.
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  Also do not forget to hit that notification bell.
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  I'm oceans. This is beyond Bitcoin until
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  next.