INTERVIEW Will Bitcoin Miners Be Squeezed Out by AI Power Demands? Will We?

wealth protection. As I was talking about yesterday, people always talk about the price of gold, but he said, but there was an article and Tony has talked about this in the past as well, where this one individual went back and looked at the price of a whole bunch of different things, from how much does a ski lift ticket cost to how much a beer cost at the Octoberfest and Munich price these things in.

of value. Gold is actually money. And if you look at there's a meme that's really popular right now. It says it has ten ounce gold bar. It's like ten of these would buy a standard family home in nineteen twenty and it's like, at fast forward one hundred years, ten of the eighties will buy a standard home in twenty twenty four. And I think that just makes people think, like, well,

what's the deal here? What happened? Well, what happened was the separation of value between your currency and the money, which are two different things now, I mean they can be the same thing. But right now across the world, we have fiat currency that's again means by a decree. So this is a fake currency set up by government so they can expand the money supply to pay for their mistakes and their corruption, and we the people are

left holding the bag. And that's why it's It's something that I talk about all the time, understanding there's been currency and money, and that money has intrinsic value and stores of value.

because they're at war with gold. But the other central banks don't want the risk of exposure to the dollar as a fiat currency, so that's why they're accumulating it, even to the extent that the People's Bank of China, their central bank had lied and said they stopped buying gold in May.

fiat currency. I think we ought to be worried about our exposure to the dollar as well.

You know, the Federal Reserve, and of course the United States itself was not buying gold. It's not in that buyer anymore. It hasn't been for decades since the nineteen fifties, so really before the end of World War two. And the reason that they can't is because they are at war with gold, especially since Sir Richard Nick took us off the gold standard of nineteen seventy one. The Federal Reserve is at war or with gold because if it buys gold, it increases the value of gold by eating

up the supply. So when the gold price goes up, you see the dollar is weakened. So they're in quite a predicament. Imagine the irony. And the article also mentioned that the Federal Reserve buys debt advised the US treasuries, and so if you look at the other central banks around the world, they are buying gold. And the reason they are they don't believe in their own systems, and they certainly see that a well, to quote Jamie demon

an economic superstorm is coming. And I think that has to do with the amount of debt worldwide and the loss of purchasing power and currencies and the increase in the currency supply and the money supply. There's an article out today that the global debt has surpassed three hundred and fifty trillion, which is basically almost all if you look at some estimates think that say that there's like four hundred, four hundred and fifty trillion and actual assets

and value across the world. Some estimates are like a total of a quadrillion. I don't know, but I think a lot of that is fake. And so if you look at I think we're just a wash in debt.

There's just no way that if you look you look at all these and this is something that Michael Saylor put up on the board when he's doing his presentation at the Bitcoin conference in Nashville, is sewing all of the different categories of where wealth is held in around the world, whether it's stocks or bonds or sovereign wealth funds or treasuries, and it's hundreds of trillions. I'm really wondering.

And of course gold and bitcoin we're this tiny little corner up on the top left hand side of the chart. And so I'm starting to think that so much of it, even the markets are fake, and we really are headed for a chaotic revaluation data.

coin Telegraph. They said AI may already be using more power than bitcoin, and it is actually a threat to bitcoin money because they are going to be bidding for power and because they can make more money per kilowatt that they use. AI can with the services that it charges for, they can make more money than the bitcoin people can use can using it using electricity for mining.

It's a bigger issue for all of us, really, because when you look at how incredibly massive artificial intelligence is in terms of it's being power hungry, it's going to make electricity unaffordable for us. And just talking about how They got a record auction in the area around Maryland, because again they want to put AI close to the people who are going to be using it, that's our government for the most part, And so a big auction there.

And even though they had an incredible had a seven hundred percent increase in price, they still didn't have enough electricity to go around. And so what does that say not just for bitcoin mining, but what does it say for us? But it truly is amazing to see this, considering the fact that it was just March of twenty twenty two that the Biden administration was attacking bitcoin and all crypto saying that the mining process was using too

much electricity. They just look the other way, don't they, When it comes to something that's going to be used for propaganda, surveillance and biometric identification, they don't care what it costs.

So it really is just it's a false metric to use how much energy is used on bitcoin and cryptocurrency. And you're right. I mean something like AI, which is going to be approved by the establishment or the ruling class, will never ever be talked about. So this is all fake. I mean the power uses I think to add up, wasn't it like, and I've read this before, I could be wrong. I think all of the bitcoin mining all over the world equals somewhere around the usage of the

country of Poland. I think, like everything if you add all of it up, and maybe not even that, but if you add up all the actual banks and businesses and associated with the banking industry, it's like ten times that. So I don't think that's in the actual ballot argument on the energy usage.

charging a smartphone. It's very intent energy intensive. And they said in terms of tarrawatt hours that they expect in twenty twenty four, it's going to use one hundred and sixty nine tarrawatt hours, whereas bitcoin mining is using one hundred and twenty five. So it's already significantly more. They think by twenty twenty seven it'll be fifty percent more, be two hundred and forty tarrawat hours versus one hundred and sixty tarewat hours for mining. So it is amazing.

And you know, when I look at it, it's not just about a bit coin and it's viability. Because they said there's this competition between them, they're going to be able to pay more for it. But I thought, well, what about us. You know, what's it going to take to turn on the lights and have air conditioning. If the bitcoin miners can't make a profit off of this stuff,

that is equivalent to the AI. If the AI has got so much power requirement and it's making so much money that it really doesn't care and these people have deep pockets. They're going to do it whatever they're tied with the government, they're going to do it with whatever. What does that say for the power rates for the rest of us and what that's going to do to inflation. I mean, it's just incredible to look at the near term effects of all this stuff, isn't it. Well?

with AI, it's always on peak. It's always doing this stuff. So that's one of the reasons why they're looking at these other things. But yeah, when we look at the future, that is the key thing.

designed by the government. Let me ask you this because a lot of people and I got a very lengthy article that I haven't gone through all of it yet from a listener talking about yet again, we've heard this in the past, that the government is behind you know, we have this Satoshi guy supposedly we don't know who he is, but they said, well, we think it's the government that did that, and we think that they're using this to as kind of a gateway into central bank

digital currency. That's always been my concern. That and the fact that it's not really anonymous, and so, you know, a lot of people have brought this up for a very long time. I think Katherine Austin Fitz talked about it six years ago.

read articles of research over time. I do not know, however, those who believe that it's some kind of ruse created by the Central Intelligence Agency to get people sucked into a new CBDC grid. I think that if that was the case, then they failed miserably because what it has done is it's taken a younger generation of people and turn them on to arguments against fiat currency and central

planning and central banking. It's created an entire subculture of younger people that no longer are going to be look at the world the way that the educational system would like them to look at the world, you know, like the Rockefeller educational system of obedient workers. I think there's a lot of the shift and consciousness from this last

generation of looking at bitcoins. One of the reasons that and I've talked about this before, that the Pentagon ran a war simulation three years ago or four years ago for in the scenario of a gen Z bitcoin revolt where gen Z stops using the dollar on purpose as a protest because of inflation or or you know, a loss of purchasing power or not being having the perception of not being able to afford the same things as their parents and grandparents did, and thinking that was a

war game. So they know that there's there's something with it. If you look at the consequences of introducing it, then it certainly blew up in their face. I don't know that nobody knows the answer. I'm certainly not an evangelist for bitcoin per se. But what I do think that is that the idea of it is what's the most powerful thing. It's like Victor Hugo said, the one thing more powerful than all the armies on the earth. It's an idea whose time has come. Well, perhaps a bitcoin

is just an idea whose time has come. And then the reason that I first and foremost, you know, I'm a precious metals guy. I like gold. I want to hold it in my hand. Gold and silver do something that bitcoin can never do, and that's existing in the third dimension that exists in the material world. Now you can argue Robert Kiyosaki calls gold and silver God's money because it's put here by God. It's going to be here long after you know, we're gone. It's gonna it's

gonna survive that. And it's an element in the earth, and it's finite. You know, you can only get so much gold or silver, but you can. We don't know how much gold and silver there actually is geologically it could be. And there's in you know, in outer space, supposedly there's like asteroids with gold. So we don't know. It's it's it's more than what you know, what we've already mined. But bitcoin's finite. So it's a really interesting system and I think it teaches people, Okay, well, this

is what money should look look like. It should be scarce right. It should be divisible, it should be easily transferable, and again should should hold a store value, shouldn't be able to take like we do now with modern governments, and they just inflate their way out of an issue which destroys the middle class. It destroys people on fixed income, It destroys those who can't get upward mobility fast enough to outpace inflation. And we've seen that on our own.

That's what our society is coming apart, you know, with policies such as that, and then of course free trade and other things. But I really do believe that bitcoin is a force for good at this point, and the jury is still out. Again, I don't we don't know who the founder is. And I always add on my show when I talk about this, we're in alternative media. We look at the world a little bit differently, a lot differently than the normal person or somebody who consumes

mass media. But I do think we can get caught up in the fact that we don't have any wins with Sometimes we have a win. Sometimes this could be an anonymous cryptographer, it could have been somebody whose passion this was that would be the only way that bitcoin could exist The way it is is the way it was adopted, the way it was put put into motion. That's my opinion, David. You know, you look at the decentralization of it. That it's not owned by a company,

it's not owned by a country. Every other crypto tracks back to someone. That's just the way it is. It tracks back to a group of investors, it tracks back to a person. Bitcoin does not, And I think that's the only way you could truly have something this revolutionary. And whoever, whatever Satoshi Nakamoto was, understood that.

and forth that is happening. So we went through a period of extreme free speech and all the rest of this stuff, and it looked like their plans had backfired on them. But then they start to pull it in using these same companies that they had backed and put into operation to compete against each other. But now there's

a pushback against that. I talked yesterday there was an extensive article on Reason talking about a new platform called Noster and Noster will you know if people want to use that for free speech, they've got complete control over

it anonymity at the moment apparently. But it also you can exchange and pay people using bitcoin, so it kind of ties into that Bitcoin thing, and who knows, you know, maybe Noster was something it had some of the same developers from Bitcoin, But a lot of these things are open and you can look at them, and regardless of what happens with it's going to be this constant back

and forth. The price of liberty is eternal vigilance. And so if there's something that is put together out there by DARPA or by the CIA, people might be able to take that and use it. It might, and then there's going to once they put that out there, it's going to be a struggle from the people versus the government and DARPA as to who's going to be able to use this to their advantage, and that's going to constantly.

EBB and flow in different directions. I think the same thing may be the case with bitcoin if they try to use it. There's been a lot of talk about ethereum being the backbone of a CBDC and how they could rapidly bring that in I think more easily than they could bitcoin. So I kind of think that they would do it with ethereum. But there's going to be this constant back and forth with bitcoin, and I think

also certainly with the Internet. Maybe noster is going to be something people can use, but if it's not, be something else that'll be out there that people will try to use their system to enhance liberty while they're trying to use it to enhance tyranny. It's always going to be that back and forth, just like there's a back

and forth over the government all the time. The government could be used to increase our liberty or it could be used to in a tyrannical way, and there's always a struggle going back and forth about how it's going to be used.

You have a worldwide reserve currency system that's dying. The petro dollar is going away, so we're losing purchasing power in our dollar while we're expanding the liabilities of the United States, putting us on a war footing, continuing to massive foreign aid. We're importing people from all over the world, crushing the the safety net and the welfare system and

all that. So the welfare warfare state continues to explode, spending and liabilities go up, so we print and print and print more money or more currency, and then that devalues it so that ultimately, I think people are starting to catch on. This isn't the you know, this isn't the generations passed and we had the inflation of the nineteen seventies, of the inflation shock and all that. But we're not going to be able to bail ourselves out of this one. It's you know again, the United States

was a trillion dollars in debt in nineteen eighty. It's thirty five trillion dollars to day. As you pointed out earlier, it's about ten percent of the global debt is here in the US, and that's it's only accelerating. It takes a trillion dollars a year just to serve as the interest on the debt. We go with trillion dollars in debt every ninety to one hundred days. These are facts and figures. So there's it. There's crop up because of

things like that. And really this bitcoin was a response to the two thousand and eight two thousand and nine bank bail out, too big to fail, too big to jail era, you know, where they had the mortgage crisis and the subprime meltdown and all that, the Great Recession, if you want to call it. That that was a response to that. And this is you know, you had occupy Wall Street and all those other things those are

and that that was another response. But this is just throughout the years since then, you've just seen an outcropping of more and more people getting into the space, whether it's crypto or whether it's even precious metals. I think there's a lot of entrepreneurs that are understanding this, and I've watched my business change may and it's changed rapidly. It's over the last five five years. It is really a complete transformation. I've seen more and more people starting

to understand what this is all about. I think it's positive that there's a there's a change in thinking going on, and you know, I really do. I think I think there's a lot of there's a lot of positive out of that because we're catching if those If you're paying attention now and you're starting to see how this all works, you're catching some things early, and you can do something about out it. You don't want to be left holding the bag when the dollar really slips into you know,

I don't want to use the term hyperinflation. I'm not sure that we'll see that like that, but we'll definitely see a devaluation. It'll be more rapid than what we've experienced over the last ten or twenty years.

as unconstitutional, illegal as the Federal Reserve really is. And it's not illegal, I mean, they passed the Federal Reserve Act, but it is unconstitutional to look at that and to say I want to seat at the table, rather than saying I want to reform this.

I just want to. That's why I like the gold and silver. It's outside of the system, and they it's not. Of course, you know, they can they can break in and steal stuff and or steal from wherever you got it.

And then, as you pointed out many times, you know, going into Christmas Christmas Eve nineteen thirteen, they just passed that Federal Reserve back it is. It is unconstitutional. Unfortunately, no one's that ever successfully challenged that. I mean, they never they never over overrode the Constitution to put in

the Federal Reserve. They just put it through and kind of you know, because you look at the Constitution, the United States Congresses can only coin money, right has the only Congress can coin money, and it has to be gold and silver species, So that that's something that isn't

done anymore. And if you going back to that article you mentioned, but from the Mesas Institute, it is some interesting back and forth between the US Treasury and the Federal Reserve in the nineteen thirty four Gold Act where the FED had to hand over their gold and then this Treasury issued the certificate kits. I don't know if that will be something that comes to fruition in the future because I think if you looked at you know,

Janet Yellen was head of the FED. Now she's head of the Treasury, and I think we'll see more and more of this. I don't know that they're two separate entities really because I think that if you read the creature from Jacky Island, you see this is a this is a you know, an international banking consort, seaman cartel that really runs. It's it's not that the US government wags the Federal Reserve dog, right, it's the other way around.

But I'm interested to see because a lot of my research showed that the and you can read this in the book The Killing of Uncle Sam, which is Rodney Brown to put out. It's really some great research on what happened to the gold after nineteen thirty three when Franklin Roosevelt did that executive order for you to turn it in. A lot of it went to Basel, Switzerland at the Bank of International Settlements, if not a great majority of it. That's an interesting article that came out.

And you know, I think moving forward, I think there'll be just like you mentioned, David, I think there'll be less and less of a separation FED in State.

you're in LA. Are you going to have your broadcast immediately following this one today or what's up with that?

Thank you, so much, Tony, He's always great talking to.

These are gold scammers. I'm going to talk to my staff. I talked to one of my friends in Rockwall, Texas, who's a gold dealer friend of mine. He had the same thing. He actually was able to stop one of them, but I saw it reminded me again. Today I was doing some research for Talk and that came out on Fox News. That's happening all over the country. So the US government's never going to tell you to buy gold number one, Okay, So that's a red flag. They never

want you to own gold. They don't want you buying it. They try to. They would want you to put your savings in fiat currency. So that's that's a red flag right there. But yeah, if you have any questions or something happened like that, just give me a call it wise Wolf and Happy.

you there in LA. We're going to take a quick break and we'll be right back with Eric Peterson.