Hello, and welcome to another episode of The Mark Moss Show, of course, where we're talking about the decentralized revolution, the way the world's changing, of course, as we look at it through the lens of politics, finance, and technology, and you know, trying to change the way you think about money, trying to change the way you think about the world. So I try to bring you some education to kind of help change the way you see things and think
about things. Of course, some of the latest breaking news headlines you can stay on top of the world as it's changing, and some interesting guests. But right now I want to talk about what has been going on this week, because it has been wild. There's been some big stories that are really cementing my.
Thesis of this decentralized revolution.
A lot of times people ask me, Mark, when is the pendulum going to swing back? When all I see is still centralization, I don't see your thesis playing out. Well, one, you're zoom didn't wait too close, but two, holy cow, it's happening right now. And so this week has been big news, of course, dominated by the banking crisis in the United States, and it's been going on for a couple of weeks. And it is really picking up steam.
As a matter of fact, we just saw another bank go down this week, and that is First Republic Bank. Now it's important to understand what is going on here for a couple of reasons. It's not just like, well, another bank go down. A lot of people still have sort of this PTSD, if you will, This PTSD from the two thousand and eight banking crisis that led to
the Great Financial Crisis. And during that time in two thousand and eight, we had a lot of banks fail obviously, right, but can you believe that since then we've seen an even worse banking crisis. Now, what is worse, well, not worse in the terms of numbers of banks, but in the size of the banks. The largest banking failure in US history happened in two thousand and eight.
That was Washington Mutual.
Bank and it had three hundred billion in assets. First Republic Bank is the second largest bank failure in history. It had two hundred and twenty nine billion. But we also saw the failure of Silicon Valley Bank. We also saw the failure of Signature Bank. We also saw the failure of Silvergate Bank before that, But Silicon Valley Bank and Signature Bank, where the third and fourth largest banking
crisis collapses in US history. So collectively, the three banks that have gone down in just the last couple of weeks dwarf what happened, I don't want to say dwarf, but are bigger than what happened in two thousand and eight. So while a lot of people say, well, we're not going to see another banking crisis, what we already are The banks that have collapped in just the last three or four weeks are already worse than what happened in two thousand and eight. So we're there now. I don't
want to go through all the mechanics of that. I'm sure you've probably already seen enough of that in a number of other news sources. But what happened I think is more important here. But even more important than that, is what does this mean?
Where? Where are we going with this?
Well? You know one thing that I talk about quite often here is I talk about central bank digital currencies, which is of course more centralization. It's the central banks taking over control over the money. And so rather than having a decentralized banking system where we have all these regional banks, local banks credit unions, et cetera that are making local regional decisions knowing me personally and knowing what
I need in my local area. Personally, we're moving to an area all we have is these big banks, and these big banks basically take over everything, and then instead of a local banker that knows me and what my local area needs, have to deal with some banker in New York who doesn't know me and doesn't know what I need. And that's sort of where we're going, and we're seeing it happening in rapid time. As a matter of fact, what happened with First Republic Bank, Well, it's
good for the depositors in the short run. What do I mean, Well, the depositors didn't lose any money. So here we are again finding FDI and C insurance only covers up to two hundred fifty thousand dollars. However, lots of depositors had funds well over two hund fifty thousand dollars. So the good news is for the depositors they didn't lose any money, that all got covered. The bad news is is that we're continuing to see this centralization of
the banks. As a matter of fact, thirty years ago in the United States, we had almost eleven thousand banks. Today we have about four thousand banks, so we have about thirty five percent of the banks that we had thirty years ago. So we're seeing this massive centralization. Now, what sort of centralization? Who dok it over? Well, of course it.
Was JP Morgan.
JP Morgan seems to always be there to help o whatever they need be. As a matter of fact, JP Morgan has a long history of this. We saw them way back in the day helping out. As a matter of fact, before we had the Federal Reserve, JP Morgan was there in the Panic of nineteen oh seven in the banking crisis, JP Morgan stepped up to save the day. Then JP Morgan was the one that led to the creation of the Federal Reserve. And now JP Morgan is still there saving the day. Now, don't think that there's
some hero here. As Jamie Diamond, the CEO of JP Morgan said, quote, our government invited us to step up, so we did end quote. That's what Jamie Diamond said. So thank you, Jamie Diamond for thanklessly for serving the American people in a way to save the day. Never mind the fact that they generated a one time gain of two point six billion dollars.
Yes, with a B billion, they.
Expect an ongoing five hundred million dollars of profit per year now in doing so. The reason why they stepped up is because the government took over all the losses of the banks and gave them all the profits two point six billion dollars plus five hundred million dollars per year moving forward, the FDIC insurance covered thirteen billion dollars in losses. This is another example of socializing the losses
and privatizing the gains. We all get to pay for the losses and Jamie Diamond gets to keep all of the profits. And the FDIC insurance also covered fifty billion dollars in financing for them. So we're seeing the centralization of the banking system, the consolidation of the banking system,
and it's it's doing a couple things. One, in the short term, it's helping the Federal Reserve to continue to tighten the screws on economy, to continue quantitative tightening where they're raising interest rates at the fastest rate in history. And of course it's causing the banks to collapse, but it's pushing them right into the lapse of the big banks like JP Morgan. Now, if you don't know, the Central Bank, the Federal Reserve is not federal and they
have no reserves. They're not federal, they're not part of the government. They're made up of member banks. And who's the most important member bank. Oh, that would be the New York.
Bank, and that would be Jamie Diamond.
Of course, of course it's Jamie Diamond who controls app And what we're seeing through this consolidation is basically all of the banks that we have, all the smaller banks are consolidating into the big four, which are City Group, City, JP Morgan, Chase, Bank of America, and Wells Fargo. And they're becoming these two big to fail institutions. We're seeing the end of capitalism as we know it. And really what we're seeing is the nationalization of the banking sector.
And it's not over. We see this week more banks are crashing. Pack West Bank in California, it's stock crashed sixty percent. As a matter of fact, there's an index you can look at, the kr It's a bank index of regional banks, and it is plummeting like a rock. And so all of these small regional banks are collapsing, and what the Fed do? They raise their rates even more, so what should you expect? Unfortunately, more banking collapses. What else?
More socialization of losses and privatizing the gains, more banking consolidation. And so while we're moving into a more centralized world, we also have a decentralized option. So if you're worried about the banking collapse and you're worried about your money in the bank, well you can opt out. We have bitcoin. You can easily just buy bitcoin. Of course, you can go buy gold, you can go buy real estate, you
can go buy stocks, whatever you want. But bitcoin is the decentralized option that's set to counteract all of this and help us to beat the great bank nationalization of twenty twenty three. If you're just tuning in, you are listening to the Mark Mass Show. Of course, we're talking about the decentralized revolution, how the world is changing and we're witnessing and we're still at the precipice here, we're still watching the pendulum peeking out of centralization and decentralization.
I'm running through some of the biggest news headlines of this week. I got more to go through because it has been a busy week. But anyway, you're listening to the Mark Mass Show, I got more headlines to cover when I come back in a second. Don't go away, I'll.
Be right back.
Hello, welcome back. If you're just tuning in, you're listening to the Mark Mass Show. Of course, we're talking about the decentralized revolution like we do each and every week, as we look at it through the lens of politics, finance, and technology, and really we're looking for the convergence of those three things because that's what brings us context and helps us understand what's going on in the world, particularly when it comes to our money, which is driving this
whole world and this decentralization. Now, you know, like I said, there's been so many new stories coming as so fast. It's hard to stay on top of this, and more importantly, it's hard to understand what is going on. One of the big stories dominated news headlines as it should, is that the United States government has less than thirty days of cash left on hand. Now that's the big deal.
I mean, it's more than a big deal. We're talking about what twenty six trillion dollar economy, the greatest economy in the history of the world, the greatest military in the history of the world, the greatest ingenuity in the history of the world. Twenty six trillion dollar economy. We're talking, you know, five to six trillion dollars of revenue coming in from taxes, and yet they have less than thirty days.
Of cash on hand.
Imagine if you ran your finances like that. Now, I've been talking about this for a while. It shouldn't come as a huge surprise to you. Part of it, well, it's two parts. How does anyone go broke? Well, it's usually two parts of the equation. One there's an incum problem, and two there's an expense problem. There's a spending problem. So easy math is, you're spending more than you're bringing in, obviously,
and so that's what the federal government has. Of course, right, they continue to spend more and more money every single year, and they're they're spending more than they're making. Now they're spending more every year, and now we're seeing income plummeting. And I've been talking about this for a while. I told you this was coming six eight months ago. And the reason why is because the Fed going on the war path of raising rates at the fastest pace in history,
and it's doing a couple things. Why are they doing that, of course, to fight inflation. Prices are going up too much, and so the Fed says, well, here's what we'll do. We'll make everybody broke. And if everybody's broke, then they will stop buying as much, they won't drive as much, they won't eat out as much, they won't travel as much, and that will bring prices down. They're going to crush
demand quote unquote crush demand by making people broke. The problem is when people are broke and asset prices come down, or they don't have a much money to spend, and then they don't pay as much taxes. And if they don't pay as much taxes, then the government doesn't have any income. But unlike you and I, who if our income goes down, where our expenses go down. No, no, no, not the government. Even though income goes down, expenses are still going up. And here we are at the debt
limit ceiling. Again. You've heard this before. We've been at this point several times in history. As a matter of fact, dozens of times in history, because every single time we hit the debt limit we have to raise it. And every time we get to this point where we hit the debt limit ceiling, a debate happens to how high should we raise it, what should we do about in all those things? And here we are at another debate, and you know, seemingly at a stalemate, and again we've
been at a stillmate before. But is it okay? Is it okay if we get past the stealmate? In my opinion, even if and I would say the most probable outcome is we do come to a resolution on this. But even if we do, there's irreputable harm that's happening. So let's break down what's happening a little bit here. So first of all, we're at about thirty two trillion dollars of government debt.
And when they say, well.
We owe it to ourselves, well.
Yes and no.
If you have a pension, most likely you've bought government debt and they owe you money. If you're a foreign government or some sort of sovereign fund.
You own government debt.
So if the government defaults on that, that means your retirement probably takes a massive hit or goes away, right, But it also does irreparable harm to the country itself. The very fact that we're even debating this weakens the confidence and the trust in the United States government and
the currency and all those things. We know that in two previous debt ceialing debates in twenty eleven and twenty thirteen that went for quite a long time, that were two of the most extreme debt debates that we had. We saw the credit rating of the United States government get lowered. What does that mean, Well, when they lowered the when they lowered the credit rating, and that means that the government has to pay a higher interest rate for the debt. So that happened in twenty eleven during
that showdown. Now, Alan Greenspan famously went on TV you know, when he was still heead of the Federal Reserve, and said that the United States can never default on its debt because it has a money printer. And I've made that case many times. I don't believe any country with a money printer will ever default. However, it's not totally true,
because there's actually two types of defaults. One is a deflationary default where we don't pay the money, and the second is an inflationary default where we print the money. They're both defaults. So, for example, if I owed you a Mona Lisa painting, I borrowed it from you. I owed it to you, but instead of giving you the Mona Lisa print painting, I just printed one off my ink jet printer and I gave it to you. That's inflationary. I printed a counterfeit and I gave you the counterfeit
instead of back what you owed. That's a default as well. Default one, I don't give you the Mona Lisa back. Fault number two. I printed on mainjet and I give it to you. And that's basically with the government don So we know in nineteen thirty three, the government owed gold and so they just stole it from all the people. Nineteen thirty three, they made it illegal for Americans to own gold, and then they devalue. They changed the price from twenty dollars nouns to thirty five dollars ounce.
That's a default.
Nineteen seventy one, the nations around the world one of the all their gold back from the United States. France sent over warships to collect the gold, and Richard Nixon said, Nope, the gold windows closed. We're not giving gold back anymore. That was a default, so it does happen. But here we are back at another debate here, and I want to break this down for you a little bit, just you can understand what they're fighting over.
So you understand where we're going here.
So check it out. So the Biden administration wants unlimited spending power, so just get rid of the debt ceiling limit. Let's just spend as much as we want. The Republicans want to spend a bunch of money as well. They just want to spend a little bit less. So I'm not right or left here. Both sides want to continue to print more money once Ide just wants to spend
even more. The Republicans have a plan. McCarthy put together a plant called Limits, Save Grow Act, and they said, look, we'll raise the debt limit by one point five trillion. It's not a small number. We'll raise it by one point five trillion. And then what we want to do is we want to limit the future budget increases to just one percent a year. Now, Biden administration says, oh,
they're going to cut social Security, You're going to cut Medicare. No, they're going to The Republicans said, no caps on soci security or Medicare. But what they do want is they want stricter welfare rules. Welfare has gotten out of hand. As a matter of fact, it's increased by two hundred and forty percent over the last forty years. It's got out of control, rife with fraud. They want to strict, They want to they want to tighten that up a
little bit. They also want to cut the eighty million dollars that the Biden administration wants to give to the IRS to arm a bunch of IRS officers to come shine flashlights into your accounts of six hundred dollars or more. They also want to cancel the student loan forgiveness because
that's the largest asset on the government's books. They want to repeal some pieces of the IRA Act, the Inflation Production Act, and they want to add legislation to bring US energy back to the United States, meaning, you know, get more oil and actric gas out of the ground and make the United States energy and dependent again. All
sound like good things to me. Still increases the budget by one point five trillion dollars, But of course the bid administration says, no deal, no deal, You're going to shut it down. So we'll see how this plays out? Now, what does this tell us? It tells us that there is massive amounts of money printing ahead. Either way Republican or Democrat, doesn't matter, which means more inflation ahead. And so we know the directionality.
We don't know the timing.
We know the directionality. If you just tune in, you're listening to the Mark Maas Show. Of course, we're talking about the decentralized Revolution. I'm running through some of the biggest news headlines and articles this week so you can understand what's going on in the world and more importantly, the direction that we're heading in the timeframe. These are the signposts that show you where we're going. I got
a whole lot more to cover. There are some even bigger news that I haven't talked about yet this week. I might take a quick break. You don't want to miss it, so don't go away.
I'll be right back.
All right, Welcome back. If you're just tuned in, youwhere listening to the Mark mass Show. Of course, we're talking about the decentralized revolution each and every week. How to run through some of the biggest breaking news headlines. Of course, I like to look at them through lens of politics, finance, and technology, and the technology is what changes the world more than anything. And of course that technology has changed the world right now. Is bitcoin the decentralized protocol, the
decentralized network now, you know? Talking about bitcoin, I went on record. I made a couple videos on my main YouTube channel, Mark Moss. I do a couple teaching videos there per week. So if you want to check those out where I have slides and graphs and presentations, just go to Mark Moss check out my main YouTube channel there. Also, by the way, if you miss any of these shows, you can watch me and listen to me on the
Market Disruptors YouTube channel. But on my main YouTube channel, I made some videos and I went on Fox Business and Stansbury Radio and all the big shows, and I made a statement that I believe that bitcoin, I'm sorry, an cryptocurrency as a category wouldn't have another bull run.
Bitcoin will, but cryptocurrency wouldn't as a category. And the reason why I said that is because after the collapse of FTX, I knew that the financial regulators were going to come after it so hard that it would drive a lot of that venture capital money away. And people say, Mark, you don't understand it's going to go offshore. Yes it will, I agree, Mark, you don't understand, like we'll still trade it on decentralized protocols.
Yes you will. I get that.
But the big money, the venture capitalists that were putting the hundreds of millions of dollars in and putting the money into advertising and talking it on TV, that would go away. And so would there be little assets that will still blow up like what just happened this week with that peppy coin and went up to two thousand percent. Sure that still will happen. But as a category, the days of just you know, closing your eyes, throwing a dart and having everything go up, I think that's over.
I saw this week. Long time crypto advocate, not a big fan, not a big friend of bitcoin. I've used us some clips of I'm talking about Chamath Pella Petea. If I said that right, Chimoth is what they call him, and I think he's he's like early early Facebook. He's an early bitcoin adopter. He's also been involved in a lot of cryptocurrencies. He was a big, big adopter of Solana.
There's a video that I've used before. Other people have posted around where you hear him and like David Zach's laughing about, they only buy at a discount, meaning they buy cheaper than retail, and then when they can they dump it, you know, they dump it on retail. Anyway, he went on. He was on CNBC this week talking about how he says, quote crypto is dead in America. The reason why he says that is because the United States has He says, the United States authorities have firmly
pointed their guns at cryptocurrency. So basically what I'm saying right, the regulators are coming so fast and so hard after cryptocurrency overall that he says it's dead in America, meaning that it's all going to start going offshore, and we're seeing that. But again that's crypto, not bitcoin. Bitcoin, on the other hand, is has been just blowing up an adoption. The price has been doing good the adoption, and what we typically want to look at is development on the
network and use of the network. And I saw this week Jack Dorsey's the founder of Twitter, previous CEO of Twitter. He has left now to go start bitcoin companies that he wants to dedicate the rest of his life to working on bitcoin. He announced a legal defense fund for any any type of cases that could come against open source developers. So if anybody wanted to bring cases against any of the open source developers. A bitcoin is an open source network. Anybody can join it, anybody can use it.
Who can.
It's permissionless, open borderless, permissionless, et cetera, where cryptocurrency is not. And so cryptocurrency, you know, like ethereum of Solana or Cardano, et cetera, is private, right, it's a it's essential entity. And while there are developers that work on it, Bitcoin is all open source, and so these core developers aren't getting paid. There's no company funds that pay them, there's et cetera. And so he has opened up a legal
defense fund. I thought that was pretty interesting. But talking about the development that's been going on, it's been blowing up. You might, of course know by now about Michael Sailor. He's one of the largest bitcoin holders in the world. Billionaire owns like one hundred and thirty thousand something like
that bitcoin worth billions of dollars. His company, micro Strategy, which is a technology company, has been holding an event all week for corporate leaders talking about ways they can integrate bitcoin and Lightning into their businesses for payments, how they can reimagine their payments. Bitcoin isn't just a form of money, it's a network. And with Bitcoin and the network and the Lightning network, there's all types of new use cases that can be done on that network. And
that's exactly what they're talking about. And so remember we want to look at two things, that the development on the network and the growth of the network. And this is massive development on the network. He's bringing Fortune five hundred CEOs financial executive technology innovators from all over the world in to figure out how they can use this new network, not the money, the network and the technology
for their businesses. Pretty amazing. I also saw this week something that I thought was really cool, and that is a new type of network, a peer to peer marketplace, if you will, that's being built on bitcoin. And so this will be a full fledged marketplace that is censorship resistant, it's permissionless, it's all built on open source technology, and it's all peer to peer. And so if you think about you know eBay or Amazon for example, those are marketplaces, right,
but Amazon sits in the middle. Amazon says who can and can't sell or on Amazon? Amazon cells what can and can't be bought or sold on Amazon, and so you have this central entity that sits in the middle that's able to censor us, et cetera. And they want to build a new peer to peer electronic marketplace, which I thought was pretty cool. And they're using it not on the Bitcoin technology necessarily, but on the Noster architecture.
So I've been talking about this quite a bit. We have these open monetary protocols like Bitcoin, and then we have these open communication on protocols like Noster. Is a new way that we can communicate peer to peer. So instead of the Internet that goes to a central entity, it can communicate peer to peer. And so they're building it on top of this Noster architecture and then integrating
the Bitcoin Lightning network into it. So you have this decentralized platform, decentralized identity, decentralized moderation and all, and then peer to peer inside of it, so we can communicate between us and transfer money. It's pretty amazing. It's just in the beginning stages right now, but it gives you an idea of exactly what's going on here in the space.
And it's like I said, it's happening fast.
And of course, you know, while there's this massive innovation happening, just like anytime there would be what we call creative destruction, something new comes and a new creation, it destroys the old way, and unfortunately, disruptive technology does that, and so
we're seeing some crazy pushback. As a matter of fact, this week we saw the White House, President Biden and the administration put together one of the most stupid, most crazy bills I could even imagine, and they want to propose a thirty percent tax on any energy that would be used by bitcoin minors. So if you buy a computer and plug it in and happen to use that computer on a network in a data center to work on bitcoin, you have to pay a thirty percent tax
on that energy. But if you use the computer in the data center to stream porn or to play video games or watch YouTube videos, you don't have to pay a tax. So now the government is going to tell you what you can and can't use your computer for you, what you can and can't use electricity for.
Think about that for a second.
I've said, you know, I've seen the government's talking about banning what type of stove you can use when the government is trying to tell you what you can cook your food with, When the government's trying to tell you what you can and can't use your electricity for. I think the government's too big now. I think the government's been way too big for way too long anyway, but it's definitely too big when they're trying to tell you what you can cook your food with or what you can use.
Your electricity for. And it's coming to a head.
We're going to see this all happening much faster than we could imagine, especially really to ahead in this next presidential election, where we're starting to see president's potential presidential candidates on both sides of the aisle running on a bitcoin and Central Bank digital currency platform. Ron DeSantis on one side, RFK Junior on the other, and Vimmick Ramaswami coming out of nowhere trying to make a name for himself, also run on that platform. If you're just tuning in,
you're listening to the Mark Maus Show. Of course, we're talking about the decentralized revolution, the way the world changes, and I got more news headlines that you don't want to miss. I'm gonna be back in a second I take a quick break, don't go away, all right, welcome back. If you're just tuning in, you're listening to the Mark Mas Show. Of course, we are always talking about the way the world is changing from a centralized world to a decentralized world, and we look at it through the
lens of politics, finance technology. And we're running through some of the biggest news headlines this week, so you can see that it is literally happening right before very eyes. And of course we look at through the lens of politics finance technology because like I said that, I think that gives us the most comprehensive view. Like I said, it brings everything into context and they all feed into each other. Right, So solutions come to problems, problems need solutions, et cetera.
And man.
Coming from I don't know, the Great State of California, we'll call it that. As I say, the formerly great state of California, in my opinion, is still great. Sure it's bankrupt, and sure it's full of homeless people, and sure it's leading trying to lead in crime, but it's still pretty great. I heard what was his name, I mentioned him earlier, Adam Carolla, and he's from California, and he was talking about how he's like, I think he's a comedian, so it'd be more funny coming from him.
But he said something like, I think California is sort of like that, you know, really hot girl in high school that everyone thought was the most beautiful girl, and now she's like forty five or fifty years old. Right, Like, California still seems to be living off its laurels.
But I think it's still great anyway.
Unfortunately in the big cities of California, which I do not live in. Luckily, I'm living in a red county in a red town, but in some of the big cities of California, it is a complete and utter nightmare. As a matter of fact, San Francisco is trying to lead the world and show the way.
That we shouldn't go, but yet.
For some reason, cities seemingly want to copy what San Francisco is doing. As a matter of fact, the Los Angeles brought the district attorney of San Francisco down and gave him a job in LA so we could turn La into the same as San Francisco, which again is not a way that we should be wanting to go. But in San Francisco. It has been a complete breakdown
of all law and order. And what do you think happens with a breakdown of law and order when you have when you decriminalize crime, When you decriminalize crime drug use, When you decriminalize crime, a theft, any theft under a thousand dollars is okay. When you decriminalize those things, when you decriminalize resisting arrest, what do you think happens, Well,
you get more of it. So you have people living all over the streets in San Francisco doing drugs in daylight, stealing from all the stores, and the police will do nothing about.
It because it's not a crime.
I once heard a saying and said that San Francisco is the city where a dog has to be afraid to step in human feces, And well, that's kind of a joke, not really. If you've been there, especially in these main downtown areas, you know that's the truth. And you know, unfortunately, what happens when you have high crime like that is that law abiding citizens can't stay there.
Nobody's going to live there. The reason why, one of the main reasons why people leave these third world countries is because they don't feel safe there, and so you can look at example after example after example. I've gave the story of Detroit before of how that city fell into disrepair, and basically, the people that can afford to leave leave, and so in San Francisco, in the downtown areas, the people that can't afford to leave have left, and all the stores that have been left there have been
hit with a double whammy. One, their customers that had money to shop there are no longer there. But two, because now any homeless person can steal whatever they want from them, and they do. They're constantly being hit with theft, and we're seeing an example after example of example of businesses shutting down. As a matter of fact, we saw Whole Foods, I think in the last week announcing that they're done. They had people overdosing in the bathrooms, they
had fights breaking out, constant theft. We just saw this week Nordstrom is now shutting down both downtown San Francisco stores, and of course they cite difficult conditions. They said, quote the dynamics of the downtown San Francisco market have changed dramatically over the past several years, impacting customer foot traffic
to our stores and our ability to operate successfully. Yeah, it turns out when you have people blocking the interests in and defcating on the floors and overdosing in the bathroom, people don't want to go there. And when people don't want to go there and you're not making money and then everyone's stealing from you, turns out, yes, it is in their quote, it's difficult to operate successfully. But I don't understand why when you see this happening, people want
more of it. We saw in Chicago. We're seeing the same thing. Chicago voters had a clear choice elect the new mayor who would be tougher on crime or elect a new mayor who would be more leaning on crime, and somehow they chose someone to be more leanient on crime. Look, nobody wants this. Somehow this is getting through. I'll let you fill in the blank on how nobody wants to live in an area of crime. Nobody.
I mean, I guess if you're a criminal.
But no productive of society, no productive member of society wants to do that. I SAWREI is now closing its Portland store break ins and theft. In an email to customers Monday, ARII said, It's store in Portland quote had its highest number of break ins and thefts in two decades, despite actions to provide extra security end quote. They're done with it. They can't, they can't do it. Nobody wants to live there, and no stores can operate on that.
Now we're seeing Office Depot will close us downtown location in San Francisco, An employee confirmed on Tuesday the closes. The closures are the latest in a series of retailers leaving Union Square in downtown San Francisco. I mean, it's just it's just a bloodbath going on everywhere. And of course, like I said, who wants to live around in those types of areas? And what happens if this continues? What type of world do we have? What type of world do we live in if people are eager to riot
and loot? Now, what will America look like once the economic conditions really get bad? Like this isn't what a civilized society looks like. You're post to punish crime. Unfortunately, you have to punish crime. In California high schools, the teachers aren't even allowed to send kids to the principal's office anymore because if they send someonebody to the principal's office. They might feel bad about themselves, and so they can't do that. When I was a kid, you would go
to the principal's office and they would spank you. They would get out of paddle and literally spank you. That used to happen, and guess what, we didn't have all this crime back then. People need correction. You know anything about training animals, if you know anything about human nature, there's a carrot, there's incentives, and there's a stick. And it's not just the United States we're seeing this. We're
seeing France is also breaking down. If you haven't been paying attention, I don't know where you've been living, But for like about the last one hundred days or so, France has had massive amounts of protest going on. The President Macron is trying to quiet things down. He's calling for quote a new pact life and work, but the people don't want it. The people don't want it, and they want to point to well, they have to raise the retirement age by two years, you know, or whatever,
But that's not it. It's a long line of abuse. It's the proverbial straw that broke the camel's back.
If you will, and so the people are over it. The people are tired of it.
There's millions of people in the streets in in in France, rioting, fighting with police, and social mainstream media wants to be silent on this. Mainstream media wants to have a complete blackout. If you're on social media specifically like on Twitter, you can see first hand accounts, firsthand videos of this. But this is not just a United States issue. Anywhere they want to be soft on these things, it's going to happen. Now,
what does this mean for America. Well, one, we could take away, shoot, we probably don't want pension reform here in the United States because people might not like that. But ultimately we we're gonna have to repeal. We have to pull back on these authoritarian measures. You can only push the people so far. History is a never ending repeat story of peace and freedom but then eventually repression and then eventually revolution and it's just never any story
of that. And I don't want that to continue. And so hopefully the leaders will see this and start pulling back. But unfortunately it looks like we're headed into a recession now. Been listening to the Mark Ma Show talking about the decentralized revolution, talking about the way the world is changing before our very eyes. And that's what I got for you this week.
Thanks so much for listening.