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$1.5 Trillion in Fraud Exposed! Why We Need Bitcoin In America | Bitcoin Simply · Simply Bitcoin

0:00
America is at a crossroads. Either it fights for its
0:02
identity or it slips to becoming a socialist nation.
0:05
We will replace the frigidity of rugged individualism with the
0:09
warmth of collectivism if our Yes, that is the mayor of New
0:15
York City. And yes, that actually happened.
0:17
Despite what people believe, America is not the same country
0:20
that it was 40 to 50 years ago. Just look at this stat.
0:23
In 1960, the percentage of Americans that were married and
0:26
owned a home was at 52%. Today, it's just 12%.
0:29
And it's not just the American dream that's slipping.
0:32
Even our music sucks. The number of hit songs that had
0:35
a key change has fallen from about 35% to almost zero over
0:40
the same time period. And people will say, yeah, it's
0:42
because we're losing the things that may in America, America,
0:44
freedom, capitalism, individualism, entrepreneurship,
0:48
it's all being replaced by socialism.
0:50
But if you've been listening to the show for any amount of time,
0:52
you have to understand that the manipulation of money
0:55
manipulates all of the things that are affected by money,
0:58
which is everything in our lives.
1:00
Not only now do you work hard for yourself and your family,
1:03
you have to work for someone else who isn't part of your
1:05
family and who you have to accept into your community.
1:07
It's a pretty sad state of affairs.
1:09
I mean, we take in 2 1/2 trillion dollars in income
1:11
taxes, yet 1.5 $5 trillion of that goes to fraud in Minnesota
1:16
is just the tip of the iceberg. This is a fantastic episode for
1:19
us to get back to the basics. Why?
1:21
The root of many of the challenges that we face in
1:23
America aren't broken ideals but broken money.
1:25
If we don't have an asset like Bitcoin, hold people and
1:28
governments accountable, then what force do we actually have
1:31
to fight back with? I'm going to break it down today
1:33
for us, this is Dante Coke with Bitcoin.
1:35
Simply, let's go. The rapper who you heard
1:58
performing his name is called Bubblicious and the song is
2:01
called Gaddy Red Challenger. Let me translate those lyrics
2:04
for you. Whenever I'm in my car,
2:05
sometimes I have to flex any city I go.
2:07
Everyone shows respect. Brampton is where I'm from.
2:10
My beautiful Punjabi lady gaddy red challenger speakers going
2:13
crazy. This dude is boasting in
2:15
America, not in English without an American flag on the stage.
2:20
If I was there, I might have pulled up on my man like Chris
2:23
Tucker and Rush Hour 3 sing. The national anthem.
2:26
I don't stop all the laugh that one man sing the American one.
2:29
I know it. Oh, see, can you see?
2:36
Oh, see, can you see? Just to make sure people get
2:46
this clear, we are still in America.
2:48
So you might want to have an American flag on stage.
2:50
You might want to wear American colors.
2:52
I might have just thrown AB2 over the parade, sort of what
2:55
happened at the Indiana Alabama game.
2:57
Sometimes you just got to send a message.
2:59
There's some. Things that USA.
3:01
Has that. Nobody else does college.
3:05
Football is one of them. And AB.
3:08
Two stealth bomber is another greatest country on earth, no
3:14
questions asked with thank you. Wow hell yeah America.
3:28
Yes, holy shit. Yeah, yeah.
3:34
Now let's kick off the second-half of the Rose Bowl.
3:36
But like Pat said, there's stuff going on in America that doesn't
3:39
happen anywhere else in the world.
3:40
Like US collecting more income taxes than every other country
3:43
except China, yet US paying out more in fraud, $1.5 trillion is
3:47
the estimation then almost every other country in the world
3:50
except for the HUD. Secretary Scott Turner just
3:53
dropped a bomb on how much waste is actually being uncovered. 77
3:57
million to deceased tenants. 150 million to non existent Social
4:00
Security numbers, $5.2 billion to inactive 7. $1,000,000 in
4:05
payments to around 30,000 dead tenants.
4:09
About 150 million was paid out to people with non existent
4:12
Social Security numbers and around 288 million was paid to
4:15
support excessively high rent. But according to HUD, the vast
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majority of these incorrect payments, 5.2 billion of them,
4:22
are made to people with inactive sam.gov accounts, the government
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website where people can register for assistance.
4:28
The payments that are being scrutinized here fall under two
4:30
programs, Tenant based rental assistance and project based
4:33
rental assistance. Project based rental assistance
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subsidizes housing units so low income individuals can afford
4:39
them, with the government paying the property owner and then
4:41
tenant based rental assistance goes directly to the person in
4:44
need. In total, HUD sent down around
4:46
50.4 billion in rental assistance payments in 2024 to
4:50
more than 204,000 individuals. The potential air flagged by HUD
4:54
would make up for around 11.5% of these payments.
4:58
This is hitting every hard working tax paying American in
5:01
the wallet every single month, every single day.
5:04
And it's not just happening on the housing front.
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It's happening in the entrepreneurship front as well.
5:09
SBA Administrator Kelly Loffler goes to the extent of the fraud
5:12
that's happening. During COVID 8000, borrowers
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took about almost 7000 loans totaling $400 million.
5:20
Out of $1.2 trillion that went out through SBA funds during
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COVID. Now, remember, these COVID air
5:26
loans helped millions of small businesses keep millions of
5:29
employees on their payroll. Most were legitimate, but the
5:33
fact is we had organized crime operating around these, like we
5:37
see with the Somali crime ring in Minnesota.
5:39
And so we have gone back through loans that the Biden
5:42
administration tried to forgive that were known to be
5:44
fraudulent. That's why we already had 13,000
5:48
that we knew had been marked as fraudulent.
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We're able to find quickly 8000 of those and make sure that they
5:53
cannot benefit from our services.
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But now, as I mentioned, we're going to do that state by state.
5:59
We are going to make sure now that we understand the breadth
6:01
and the depth and the method of these crimes that we hold more
6:06
states accountable. And so we are making that
6:08
commitment. The incoming UN Security Council
6:10
president is a Somalian individual who happens to own a
6:14
home healthcare company company in Ohio.
6:16
This company also shares the same address as a money
6:19
transmitter company who has ties to the Middle East.
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Ironic, maybe ironically, when people are uncovering the
6:25
massive amounts of fraud that's happening in this country.
6:28
People like Shlomo Kramer, an Israeli president and CEO,
6:32
founder of Palo Alto Networks, coming on television saying that
6:35
we might need to limit the 1st Amendment.
6:38
We need to be able to limit or control what you can say or do
6:41
based upon your ranking of this social system that we have.
6:45
It's difficult to hear, but it's time to limit the 1st Amendment
6:49
in order to protect it, and quickly, before it's too late.
6:53
What do you mean? I mean that we need to control
6:58
the platforms, all the social platforms.
7:01
We need to stack rank the authenticity of every person
7:07
that expresses themselves online and take control over what they
7:14
are saying based on that ranking.
7:17
The government, the government should, yeah, should do that.
7:20
We don't need to expose the fact that in California there were
7:23
1.2 million fake Community College students.
7:26
We don't need to expose a 92 page report that there was $70
7:30
billion lost in 2025. An $18 billion rail car project
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hasn't had a single track laid. California.
7:37
Congressman Kevin Kiley, he is sounding the alarm in his home
7:40
state saying under Governor Gavin.
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Newsom's leadership? It has.
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Become the quote fraud capital of America.
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And we have team coverage. Our national correspondent,
7:49
Alana Austin is on Capitol Hill with more on the investigations
7:53
into Tim Walz. But we start with correspondent
7:55
Heather Myers, who has more on what is going on in California,
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a rainy day out there on the West Coast.
8:01
Heather, what can you tell us? Well, good afternoon to you
8:05
Katrina and Andrew. This latest report was issued by
8:09
the state auditor and that's a non partisan position.
8:13
That state auditor now puts 8 state agencies on the high risk
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list of agencies to watch out for, for things like fraud and
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mismanagement as well as waste. Here's a look at that 92 page
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report. Newly added to the high risk
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list is California's food stamp program.
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If the state doesn't get the improper payments under control,
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it could cost an extra 2 1/2 billion dollars.
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Also on there is the Department of Finance, which was tasked
8:41
with giving out COVID relief funds.
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Critics say $32 billion of that was taken by fraudsters.
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Then there are infrastructure issues like California's
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deteriorating dams and also the high speed train that's already
8:54
cost taxpayers 18 billion without a single section of
8:57
track complete. Oh, I get it.
8:59
You know how we're supposed to fight back?
9:00
Fair and free elections like the 2008 election, where 19% of all
9:05
voters in Minnesota actually popped up on the day of the
9:09
election. Did You Know?
9:10
That in. 2008, 500. 1000 voters or.
9:16
Nearly 19% of all voters in Minnesota registered on Election
9:22
Day. You know what?
9:24
I think we need to elect a different system.
9:26
A system that has rules without rulers.
9:29
A fair system. A free system based upon energy,
9:32
based upon merit, based upon randomness, based upon
9:34
opportunity, based upon you saving and storing more value
9:38
that you've created then the amount that you've expended or
9:41
spent. Seems like a novel concept, one
9:44
that's been implemented since 2009, January 3rd I think, and
9:48
it's been running autonomously without anyone in between.
9:51
No single person, no single ruler, in a decentralized
9:54
fashion with a 99.999% uptime. I wondered what that network is.
9:59
Oh, yeah, it's Bitcoin. We need to elect a system that
10:02
can't be bought, that can't be manipulated, that can't be
10:04
corrupted. We need to fix the money.
10:06
And that's the basis of how we fix the world.
10:09
Because the reality is we're storing all of our time, our
10:12
money and energy into this currency, this thing that we all
10:15
need to pay for goods and services with, this thing that
10:17
we use as a social services system.
10:19
If you're a Somalian that is trying to start a daycare
10:22
company out of your house with eight kids and you're earning up
10:25
to $400,000 a year without working on the backs of other
10:28
people paying taxes, well, if you can manipulate that system,
10:31
well, no duh it manipulates everything else underneath of
10:34
it. That's why we need to go back to
10:36
clips like this from Natalie Brunel.
10:37
Fix the money, fix the world. Well, how do we fix the money?
10:41
We got to adopt Bitcoin. We have to have a money that
10:44
cannot be inflated and manipulated, and something that
10:47
is controlled by rulers. We need a system governed by
10:50
rules, math backed by energy. That's what Bitcoin is.
10:53
What? Do you make of the rapidness of
10:54
the adoption just more people saying hey this and this might
10:57
be the answer? People are really seeing this as
10:59
a global macro asset, the best savings technology.
11:01
You know, we talk about this a lot for the working class to
11:04
restore the American dream, but also to uplift people
11:07
economically around the entire world.
11:09
It's so important because inflation is the life and the
11:12
hopes of the future for so many people, and Bitcoin, I really do
11:16
believe, is the fix. And it's not just in America,
11:18
it's around the world. You've talked about impoverished
11:20
nations, that this is the key for them to get out of that
11:22
situation. This is a bottom up phenomenon.
11:25
This is a working class movement.
11:28
How many technologies come around that empower the CEO's
11:31
and the folks in the boardrooms, but also those people that are
11:34
working, that are, that are struggling, that are in
11:36
developing nations. Plus, when you think about
11:38
technology, it should be deflationary, but that not
11:42
flowing to us, the workers with something like Bitcoin that
11:45
again can never be inflated, that can actually allow people
11:48
to save for the future. Why do I have to work for
11:50
something that someone else can print?
11:52
I don't want that. That's why we have so many
11:54
cantillionaires in this wealth concentration, because it's a
11:57
broken system at the core. And let's stop fighting over the
12:00
symptoms. Let's address the core systemic
12:02
issue. Let's fix the money.
12:03
Bitcoin is currently at its highest level since December
12:05
13th of 2025. We'll see if it continues on
12:08
this trend and it looks like whales are accumulating Bitcoin
12:11
for the first time since April of 2025.
12:14
What we could have been seeing at the end of last year is this
12:16
thing called tax loss harvesting, meaning that because
12:18
Bitcoin has no wash sale rules, meaning you could buy the asset
12:22
back directly after selling it and capture the capital loss to
12:26
offset your capital gains. Well, that probably shows why
12:29
many wealthy people with advisors and many consultants
12:32
were telling them to sell their Bitcoin at the end of the year
12:34
so they can capture that spread or that capital loss that they
12:37
can apply forward to future income gains in the future.
12:40
I don't know exactly what was happening at the end of the
12:42
year, but I know that 2026 is looking up.
12:45
I know that interest rates are looking to come down.
12:47
I know that the business cycle is turning in favor of small
12:50
businesses versus out of favor, which it was for most of 2025.
12:53
But instead of selling your Bitcoin like tax loss harvesting
12:56
your Bitcoin, you can borrow against your Bitcoin with no
12:59
income taxes. And that's why we partner with a
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One of the ways that you can become sovereign in this world
13:32
and one of the ways you can take back power from institutions is
13:35
by taking the power yourself. With that stored energy in
13:38
Bitcoin, you can actually take that physically.
13:41
You can memorize 12 words or 24 word seed phrase and remove the
13:45
power from the existing financial system that has the
13:47
ability to create money out of thin air.
13:49
When you remove your money from that system, well, they can't
13:52
borrow against it, they can't re hypothecate it and they can't
13:54
create more. And that's why you need to work
13:56
with the team at the Bitcoin Way.
13:57
They're helping you to take back your sovereignty and your
13:59
freedom from the system that is fighting back in all sorts of
14:02
ways that you didn't elect for. Schedule a free 30 minute
14:05
consultation with the team at the bitcoinway.com/simply
14:08
Bitcoin. All right, One of the reasons
14:09
that you can be bullish heading into 20 26 about Bitcoin is that
14:13
despite the fact that registered investment advisors and advisors
14:16
and brokers weren't able to sell Bitcoin alongside other
14:20
products, Bitcoin was still the highest performing asset in
14:23
terms of institutional products in the history of Wall Street.
14:25
One thing that their clients want is the ability for them to
14:28
be able to recommend Bitcoin as part of their portfolio, and
14:30
that's just getting started. Listen to this quote from
14:33
Coinbase CIO. For those of us who have the
14:36
luxury of being on on the inside and seeing the the incredible
14:41
degree of onboarding that's occurring across finance,
14:45
industrials, commercials, every company in the world now has to
14:49
have a blockchain and AI strategy.
14:52
If you don't, you have no hope of scaling.
14:55
And so when you're at Coinbase or Reserve One or Grayscale, you
14:59
get the luxury of seeing that sort of frenetic questioning and
15:02
on boarding and, and companies coming and asking questions
15:05
about how blockchain fits into their ecosystem.
15:07
So that's why we're excited because we, we know what the
15:09
queue is. And we also understand despite
15:14
all the volatility, despite the relatively muted price action,
15:18
the crypto ETFs, the Bitcoin ETF and others were the best
15:22
performing ETFs launched ever in U.S. markets ever.
15:27
And they did that. And this is really, really
15:29
important to all of you. They did that without being able
15:32
to be proactively sold by the army of investment advisors and
15:37
brokers that generally sell these products.
15:40
So it's a really, really important nuance.
15:42
These were the single best selling product in the world and
15:45
no one was allowed to make a phone call to sell it or
15:48
advertise it. That's really, really
15:51
interesting. And so now that that unlock is
15:53
happening where the rules are being being kind of fairer now
15:57
where investment advisors can sell these products alongside
16:00
their other products, it's hard not to be excited about that
16:04
massive institutional onboarding because as, because we know that
16:08
the retail market wants it because they bought more of it
16:10
than they ever bought a a new ETF launch.
16:13
And so as that regulatory clarity makes it possible for
16:15
these brokers to sell it, you'll see more and more of these money
16:18
center banks bring those products onto their platforms so
16:22
their brokers can sell these products.
16:24
When you look at what's being replaced in portfolios, the most
16:27
obvious place to look is by replacing bonds, which has been
16:30
in a longest drawdown period in the history of bonds look.
16:34
We had basically regulatory overhang which I think was
16:37
holding this holding Bitcoin down significantly, probably to
16:40
the tune of 50%, which is why we saw a big spike.
16:43
We expected lower interest rates, we expected more money
16:46
printing. We didn't get that.
16:47
So when you actually factor all of that in, the fact that, that
16:50
we're riding that kind of 90K range for Bitcoin really does
16:54
make sense to me. And I think when you combine
16:57
that with the fact that we're starting to see a significant
17:00
stimulus, we're going to see real quantitative easing.
17:03
We've we're seeing quantitative easing light right now that the,
17:06
the Fed is starting to buy its own bonds.
17:08
And I think, I think demand for government debt is going to fall
17:12
significantly next year along with lower rates.
17:15
So all of this bodes well for higher of all assets, including
17:20
the likes of Bitcoin. So yeah, Bitcoin is not in the
17:24
same four year cycle that it has been in the past.
17:27
Something changed this year. But when you look at the history
17:30
of Bitcoin, it is the best performing asset in the world
17:32
when you zoom out and when you take a longer term perspective
17:35
in Horizon. I believe that Bitcoin not only
17:37
gives us the ability from a risk adjusted perspective to have
17:40
good returns in this year when retail comes online or
17:43
registered investment advisements come online, when
17:45
the whales come back online, when interest rates come back
17:48
down. I also believe that it gives us
17:50
the best opportunity to fight against the socialism regime
17:53
that's coming into America. This ability to limit the 1st
17:56
Amendment rights to freedom of speech.
17:58
One of the ways that Bitcoiners use freedom of speech is through
18:01
the open source code that we all leverage in order to run this
18:04
fantastic network that's available to anyone, anywhere in
18:07
the world. And you can exercise that by
18:09
taking true sovereignty of your Bitcoin in your journey today.
18:12
If you want to learn all about that, if you want to come on
18:14
this journey with me in 2026, well subscribe to the channel.
18:17
And one of the ways is that you can maximize your Bitcoin
18:20
investments in 2026. Talking about tax loss
18:22
harvesting earlier in the segment in the show is by buying
18:25
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18:53
Thank you for rocking with me for the first show of the year.
18:55
It's time to fight back for our identity.
18:57
This is down to the coke of Bitcoin.
18:58
Simply happy stacking.