Encryption Laws Stifling Growth With Alex Saunders

News Australia. He's been reporting the news for quite some time, always has really great insights and so I'm really happy to have you on the show. Welcome Alex, thanks for having me. I'm looking forward to getting into it today. Yeah. So we've had a couple of good conversations uh in the past, sharing information back and forth. It's always always

a treat to talk to you about. Just for those that don't know who you are, why don't you give us a little bit of a background of of kind of how you get into the space and what you're doing currently. Long story, are sure. I was a pharmacist by trade, but I always loved investing and then I lost a favorit of money in the GFC when my parents gave me some shares. That was my twenty first birthday. So I went down the investing rabbit hole. I wanted

to learn about how banks, debt and money works. Became a bit of a libertarian cipherpunk and read zero hedge and that's where I found big coined in two thousand and twelve. And that's obviously a bigger rabbit hole that most people know whence you fall down. Uh. And then in two thousands and seventeen I was able to quit my job and really start doing crypto education, trading investing

full time. And so we've been doing that now for nearly nearly three years across Australia and YouTube and a bit of everything where we try and educate people and everything that's going on in the space. Yeah, and it's been great. You've been given some really good insights into the markets and I appreciate that. So lately there's been quite some news coming out of Australia and so I

wanted to get your take on NAP. You know, overall, bitcoin cryptocurrencies is cryptography, right, So it's in cryption and that's obviously this this massive trend that we're having and it goes into philosophical debates of privacy and things like that. But in regards to cryptography encryption, Australia has taken some pretty tough stances on that. I think about a year ago um forcing companies to build a back door, and then today with some unlocking laws. What do you see

about that? Yes, so there's a bill called the a a Bill and it's all about having access to encryption and apps and for government asked you to build a back door or hand over some information. That employee has to do that. And the other thing is they can't tell their boss of their company that they've been told they have to do this. They can actually go to jail themselves. So some people are saying, how on earth can you ban encryption and Australia believe that they're above

the laws of mathematics and software. So we haven't even seen any cases being just disputed yet about how this is all going to work in the real world. But that's kind of what they're going at, along with another bill where you have to hand over all your passwords and pin numbers. There was a gentleman that went her video and viral of him coming through Sydney Airport and they took his laptop and they actually took all the

data off it. And he was a software engineer, so he was able to check what they've done to his laptop, whereas a lot of other people maybe wouldn't have known. So there's a few different laws going on at the moment um. And yeah, they're pushing this one as a fine up to five years in jail if you don't hand over all your passwords and all your data. And that's not just in airports anymore, that's anywhere on the street.

But as I say, we haven't really seen any cases of this yet, but it's certainly they're in the law, and that's pretty worrying. It's definitely worrying that there was a lot I thought about a year ago roughly that was that companies had to start building a back door in Did that go through or is that just a bill so that that is in in law, But as I said, well, it's not. The companies don't have to do it immediately. They have to be able to do it if they get issued a warrant. I believe that's

how it works. So a lot of the tech companies aren't based in Australia. But if you're serving Australian individuals. In theory, if they issue a warrant to Facebook, do they have to build this back door? I know we saw a few years ago Apple really pushed back against that. So we're waiting to probably see the first case of this play out. Yeah, that's interesting. The way it seems that it normally works is not even the laws aren't really so much we're the companies at but we're the

customers that company is servicing. So if that company was a US based company like Apple for example, or even in a different jurisdiction because they're servicing Australian customers, potentially they could be liable to that right. Absolutely, very similar to what we see with the European customers and those new laws. Now, yeah, but how many people are even

aware of this stuff or care? And I think it's once we have that first be incident of someone losing all their data, and remember once the government has this that they store and we sell these data breaches all the time, So yes, it's over it's overarching. I don't know how government can even think that they're able to do this and enforce this. We haven't really had any bad instances in Australia, but it seems that we're becoming

the most heavily policed. Another law or bill was proposed this week where they're installing a number of cameras around cities with AI that look into your car and see what you're doing. And they're talking about this as getting people that are on their phones and catching it. But obviously they're going to collect all this data watch what people doing in their cars. Um, we really are becoming heavily surpailed. It's it's just really scary, isn't it. I mean,

what is it they need all that for? Right? I think you said you kind of went down the libertarian rabbit hole a little bit and kind of like the basics of that would be like if I'm not hurting anybody, leave me alone. And this is almost like everybody is guilty, we just need to catch them, right would you say that? Yeah? And Australia, as I said, doesn't have a lot of

problems with terrorism. I think we've had, you know, one instance in the past ten years, we've got the you know, we don't have a lot of firearms in our society. We don't have problems with with that sort of crime. So I just don't know why we need to be so heavily surveilled when we're peaceful place for at the time, Well, I think we understand why. Right. It's it's always a matter of control, right, So it's a matter of if you can control the information, you can control the people.

And I think in today's age it's even more scary because now through you know, Facebook and social media and whatnot, they're using like artificial intelligence to even um show you what they want to show you so that you can develop the way they want you to develop. And then if they're surveilling you, they can see if you're diverting

down that path. Right, Yeah, that's fantastic. Have you seen the documentary I forget the name now with a Cambridge Analytica and they spoke about all that sort of thing where you can direct you know, people towards maybe voting for Brexit or Trump if they otherwise wouldn't have. But we definitely see that, and I know last week Facebook brought that company with the mind reading bracelets. Have you

seen this yet? No, I haven't seen anything about the main reading um but I did see in twenty sixteen. Uh it, Well, when all that stuff came out about Cambridge Analytica. Um, they found out that in twenty Facebook had been practicing, um, putting different news feeds to different people to see if they could change their moods and stuff like that. So they've been experimenting on us basically. Yeah, absolutely, and that it really is explained well in that documentary.

And they peek on the people that are on the fence or undecided and the people that have a certain mindset already, they only continue to show you that type of information, so then you get that echo chamber effect where you're never going to change your mind and be set in your way. So yeah, it's interesting where this is all going, and I think be tech of being

maybe called to account a little bit more. In the US we see a few more trials and a lot of pushback, but in Australia it seems like they're going the whole hold straight away. I'm wondering, was the was a Netflix special called Secrets of Silicon Valley. Uh no, no it wasn't. Um It'll it'll come to me though, Okay, I have that written down as one that I should watch someone recommended to me, so UM, I looked it up and That's why I was asking. But that's okay.

But you know, so it's interesting to see obviously, like I said, with cryptocurrency and being cryptography, being encryption, how does the you know, how how does this continue to grow? Crypt cryptography, encryption, crypto, cryptocurrencies, How does it continue to grow? When you have countries like Australia, which I'm sure is not going to be the only one really cracking down

against cryptocurrencies. What do you think happens with that? Yeah, I mean another thing that Australia proposing at the moment is the cash band over ten thousand dollars and they're talking about bringing that to down to five or even two thou dollars, and I want to include cryptocurrencies if crypto becomes, you know, a payment system that people are using day to day. So what does that? What does that mean? A cash band? So they're not going to let you pay someone if you want to buy a

car for the two thousand dollars. Secondhand, you can't pay in cash. They're banning cash payments over a certain threshold. And we believe that this is all part of the road to negative interest rates, where they don't want people to be able to take cash out of banks slowly and slowly and steady. But included in that is cryptocurrency and as well as this ban on encryption they're pushing. But despite all of this, it's how how do you possibly police it? And Andreas talks about this a lot.

Once you're in the crypto ecosystem and you have your bitcoin or your manarow, and you've got all your wallets, as long as this stuff isn't attached to exchanges, that's the only really thing that they can plex, the on ramps and off ramps. So if you can find a job or a way to earn a little bit of cryptocurrency, and you keep your an amenity online, how do they say, well, you know, you know a lot of pay mark two

thousand dollars in bitcoin. If he helps you edit a video, there's no way for them to possibly know, you know, we've sent that, except where you're using an encrypted wallet, which they have a back door to. So now they're looking inside your wallet and the senior depositing withdraws. Yeah, and let's say that I set up um uh Jack's wallet, a bread bullet and engine wallet whatever it is. If I've in stole that on my computer and I'm using a VAPN. Again, how do they possibly know I've done

that on my own device. I really think if you're if you have to be savvy. But there's still ways to maintain privacy, even in Australia. Yeah, I think, you know, I mean, there's there's definitely that argument. And and I'm sure in Australia, just like anywhere in the rest of the world, passing a low to make something illegal doesn't

stop it by any means. And and and we have history that actually shows the opposite, Like during the prohibition in the United States, you know, alcohol took off really big and and obviously since the War on Drugs has been around since about the seventies, drugs is only drugs

have only gotten bigger. Um And so you look at things like, you know, marijuana, which requires you to you know, plan aunt something and water it, and you have to have room, you have to grow it, and you have to harvest and do all these things, and and then transport it and their smells and there's all these issues and hasn't stopped that. They can't even keep it out of a prison, the most you know, arguably the most

secure place in the world. So how are they gonna ban a completely digital encrypted thing, right, So, um, it's gonna be really hard, I guess. Yeah. We see like a premium on bitcoin in places like Career or China when we have a crackdown. As you say, drugs are bands, and I think Istra has some of the most expensive

drugs in the world. You know, the average process of say cocaine, I think it's three hundred dollars here, where it's close to the thirty dollars you know, you know a lot of other places around the world, and that's because of the premium that it's placed by making something illegal and creating black and gray markets. Yeah. Yeah, So I'm just curious overall. I mean, how how has this impacted you or what do you think how it's impacted Australia.

I mean, are you seen do you think this is a negative for people of Australia in a sense where maybe you don't have the jobs, are the companies there, Maybe the companies are going to be moving out of the country. I mean, this is going to affect your kids, your grandkids. Oh. We've definitely seen some pushback from the tech companies and one of the things just zooming out about our economies that we've become to rely on the housing market and you know the mining boom with China,

and we don't have those high paying tech jobs. And we talked to a lot of people in recruiting and they can't convince people to come and work in Australia of course of things like the encryption laws. Um, it's pretty expensive to leave. So I think it's actually all bad for our economy longer term. But yeah, if you're a tech company with these laws on earth, would you want to start up in Australia where you can move

over to Southeast Asia or anywhere else. Yeah, it's always like the government's always talking about stimulating the economy and creating jobs and doing these things right, but really they can't do any of that. Well, the only thing they can do is get out of the way or you know, take their boot off your neck, right. Um. And so with all these policies is that are meant to protect and to stimulate, Really what they do is just squash and drive away. It seems like, yeah, I know you've

probably spoken about this a lot as well. You know, central banks of these levers of interest rates and money creation,

and that's how they stimulate in their minds. But what we're saying, like right now being debated is central banks saying well, monetary policy is at its limits, and they're going to turn around the governments and say it was as your photo, or you need to do more fiscally and spend more and great jobs, whereas governments are going to say, hold on, central banks, you've been telling us

that you're in control and monacy, monetary policy works. Now it's clear that it hasn't, and you're gonna blame us. And as you say, the real jobs and innovation and growth comes from that free market and entrepreneurs. Yeah, yeah,

that's interesting. That's actually something we were talking about before we went before we started recording, we went live and we were talking about the price of bitcoin um and right now you know, it's down, it's looking like it's going back up, and we're just gonna talk about that real quickly. And I told you how you know some and I was talking to someone last night and they're asking me, he's it gonna go back down? Should I wait? Should I get back in? What's and asked me my prediction?

And I said, look, I don't I don't look for that forecast, I said. The forecast I'm looking at is the seventeen trillion dollars of negative yielding debt or the FED injecting money or whatever. So the points that you're bringing up um and you're right, uh, those are the things that are are driving bitcoin for sure. I think one thing, you know, I've been studying this for a long time, as as you have really dove in. Once the you know GFC as you called it, the Great

Financial Crass two tho really took off. It seemed like as over you know, two thousand ten, two thousand twelve UM, the central banks of the world, we're basically just going all in on qu e QB infinity UM. And once interest rates hit zero, we thought they would have no leverage left. As you said, they can just lower rates and inject money. But now they've broken through zero. Now they're negative right, So then like, where's the bottom on that? Now?

It's funny when he sat to think about where this goes in the in the next cycle or the second or third depression recession that we have, and you think, well, what afraid to get to negative ten? What's happening there is that if you've got a mortgage, ten percent of that is actually been eroded or paid off for you each year, and yeah, where does this go? And people kind of get excited when they hear think stuff like that, Oh geez, ten percent of my mortgage gets paid off

a year. But you have to understand that things would be so bad at that time that you probably wouldn't have a job, or you know, your partner wouldn't have a job in the economy would be exploding. So where does this all go? I think bitcoin is having this, as you say, whether you want to think about it

as a life raft. With the limited number of seats or property, we know that it's scarce, and what are people going to pay to get a little bit of land or a seat on that boat at a time when all fear money and currencies are just being inflated away to pay off unfunded liabilities, trying to base their currency in currency wars, and bitcoin isn't getting stronger or going up in price. It's not the way to think

of it. You just have to think of it that it's becoming more and more scarce relative to everything else that's happening around us. Yeah, that's a good way to put it. Now, a lot of people think that bitcoin is not scarce because anybody can just copy it and make their own crypto. And there's thousands of cryptocurrencies, So

what do you say about that. I think initially the first four becoin cash, there was a fairly decent chunk, let's call it ten percent of the community that weren't happy with the block size and their debate, so they can go off and do their own being it's a free market, it's it's anti fragile. Becoin becomes stronger, and then next off we saw bitcoin gold and maybe that was one percent, and now we've got bitcoin you know whatever.

There's probably thirty or fifty folks out there, and they all become smaller and smaller and less relevant, and they can they can tinker and try different things. But yeah, it is just making bitcoin stronger and stronger. Imagine, you know, the government would say you're allowed of folk bitcoin. That would be their response, and then people would maybe want the thing you're not allowed to have, and it makes

it a little bit more exclusive. But in this frame market, bitcoin is just powered ahead and the head and look at the bitcoin dominance, you know, in regards to the folks, not just in regards to oap cooins where it's absorbing market share, is a lot of the other projects people realize they're no good. They turned back to Bitcoin, but in terms of its dominance against the other folks, it's just getting stronger and stronger. So, yeah, you have as many folks as you want, but they don't have the

community or network effects. Yeah. It's kind of like, um, like if you had a rare piece of art like the Mona Lisa, and you can make as many prints and put it on T shirts and put it on mugs and make posters for your house and make as many copy as if you want, but it doesn't diminish the value of the original exactly. That's really good by to put it. Yeah. Yeah, so you can make all these cryptos that you want, but it's not going to

take away from the original bitcoin. Um. But but we do have all these different cryptos we have, I don't know, at least I'm guessing if not more. And I get it that summers start serving different needs. They're all they're all not aim to be the new minetary base layer. One of the things that was in the news this week was this new Crypto Readings Council, and it's kind of like, what is it like a kind of a self regulated industry insiders kind of reading agency. What are

you seeing about that? Yes, so I think it was coin based cracking. You know, a lot of the more reputable exchanges that have been around for a while come together with this rating system of where they think something is on a fully decentralized versus possibly as security, and

a few of their decisions were interesting. A lot of the coins that they've got listed, like XRP or Maker scored four and four and a half out of five in terms of yes they are likely securities, which kind of surprises me a bit that they admit that they were listing securities as those exchanges. Something like Maker is one of the first dows out there is in it is a decentralized autonomous organization and all the token holders

have a right to help vote and make decisions. So maybe that's where they're thinking that it's more of a security. But it's not you know, one business or a group of people, it's all those thousands of token holders. So I'm not really sure why a few things got the ratings they did, but those currencies like bitcoin and lightcoin that have been around for a while, they didn't have any pre minds and they're just centralized. I think that's as safe as you can get in terms of listing.

And that's why a lot of the time we see UM, even Wall Street and investment funds they add Bitcoin, ethereum and lightcoin first off, because they're the ones that have been around the longest, the most decentralized in terms of the number of notes UM and the way that they've gone about things. Yeah, but what do you think about this, like this Industry Reading Council or whatever like Like I remember a couple of years ago when they started talking

about the need for for regulation and UM. I kind of thought, you know what, the industry does need regulation because there was a lot of bad actors. I just don't think the government is the best person to do the regulating. And I kind of thought about UM. I don't know how it is in Australia, but in the

United States, I'm guessing it's the same. But we have a really big like UM supplement industry, you know, protein powders and workout potions and things like that, and those in the United States, we have the FDA, which basically regulates all food and stuff, and most of these these supplements don't don't fall under the FDA guidelines, so they don't regulate that. And so people were basically putting whatever crap they wanted to put in these things right, and

it was not good. And so you started to get these like internal company or companies that were like rating agency. So like this protein powder, they could if they got the seal from this private company certifying that their products were quality in their operations quality, then people who will be willing to pay more for that. So I kind of thought of it like that, like maybe if if the cryptotiers you could regulate itself, you wouldn't need the government to come in. Um, do you think that's kind

of what this is or how do you see that? Yeah? So putting my farmbcist head. On industry, we have the t g A, which is the Therapeutic Goods Administration, and for for medicine and things that are sold in pharmacy off the shelves, you've got to be tested for safety and efficacy. For other things, we have to be sure that they're at least safe. So you still have to get tested to make sure there's no rat poison in there. So that's kind of the way that those products sit

as far as far as I believe. Now, if there's exceptions out there, then maybe I'm getting something wrong. But at the end of the day, people want to know that something has been certified by the people in the know, but not just random A small private company that could be saying that everything is okay as long as they get paid a bit of under the table cash payments like the rating agencies at the bond markets during the GFC.

But I'd rather see coin basing cracking, people in the know help to do this than the government go about this themselves. And you know, look at the SEC and the CFTC. I think they've been behind the April and very slow to move on the whole crypto adoption and regulation.

But again, doesn't really matter. If you're in Venezuela or Argentina and someone's telling you that micah is a writing of four out of five, it's possibly a security and you all they're considering whether or not to use their last stable coin to to save your life savings or put food on the table for your family. I think sometimes we just forget however, one is focused on what's going on in the US or regulation, whereas the centralized world or all these other developing nations, you know, no

one cares. They're going to download the app and use these things no matter what. Yeah, that's a good point. We definitely, um, we definitely kind of have that that bias right of the country that we're in, the problems that we have. I think I think I was just a little bit disappointed where like, um, they weren't like really evaluating the company, um as if as if the company is good, like, um, do they actually have developers? Are they doing commits to their get hub? Like are

they actually trying to build something? It was just are they a security or not? And like who really cares? Like who who cares if it's a security right? I think so, I think that's kind of where they missed it. It It was kind of like, I don't know, what do you think? Yeah, yeah, well, if we saw EOS this morning, get that fun twenty four million out of four billion rice. So even if you are security, if you're gonna get a fun, it's like less than one

percent of what you writed. Who even cares if you are security anymore? So I'm just not really sure where they got on with all of these. Yeah, that was that was ridiculous. And we see that happened all the time in the banking industry, where you know, these these global global banks will do whatever, hundreds of billions of dollars of damage and then just get like a small, tiny little fine. It's like, I mean, who wouldn't pay one percent to get away with you know, making four

billion dollars. So I thought, like you said, with that eos uh, that was that that that definitely was unsettling. I'm not a fan of the SEC. I'm not a fan of the SEC. I'm going after and finding these companies. I'm kind of like a personal responsibility kind of buyer beware type of guy, where like it should be up to meet it, like do my due diligence. So I don't really think the SEC should be doing that. However they are, and since they are, there needs to be

some standard in fairness there. And this was completely not right much rather than say that, use the energy and race sources on stamping out all the scams. And you know, we know that AOS isn't a straight up you know scam.

Some people don't like it short, but in terms of these pungies games and all the scams in the o CEO world, surely they could be better spent going after those and maybe get getting some of the investors funds back, rather than saying, you know, we think this one possibly it was a security and we're gonna give them a

small fun like who cares? What's the outcome now? Yeah? Exactly, And and what kind of precedence does it set right for other companies where it's like, if I'm gonna get a one percent fine, like, why not, then let me go? I mean, shoot, if I can go raise thirty million and just pay a three million dollar fine, like maybe I should making making me rethink my I c O out here all of a sudden mock coin and another big coin fork. Yeah exactly, I just do a big cooin fork and uh and offer it as a as

an I c oh man at that point, why not? Yeah? So I don't know, we'll see what the sec does. I mean, there's all kinds of rules and stuff regulations that are there that are not They are not good, I mean not not just that. And then you look at the traditional world and it plays into this right because now as these are going to be rated as securities, then you have traditional securities laws of plane, which then

also means accredited investor laws. Do they have a credited investor laws down in Australia for certain things, Yes, But it's a lot more open than in the US, so you can actually invest in some startups here. I know that early on I wasn't an incredited investor and I was allowed to launch invest in an i PO back in the day, so it's a little bit more open than in the US. But I think those US laws

are just so so crazy they lead to inequality. It's basically saying that only the rich can invest in solid companies and once they've grown and they're big and investors have made money, then the average man on the street

can buy them off the rich guard. Yeah, and it's even worse than at I mean that supposedly it's there to protect a little guy, right, but it's almost worse than that, because as we've seen recently and just the last few big name I p os that have come out with like Lift and whatever, is like, um, the guys who got in early made a bunch of money, but as soon as it hit public and the public bought it, it dumped hard, and all of a sudden, those people rushed and bought it and last fifty of

their money or something seven percent of their money, so like there was no protection. As a matter of fact, it wasn't just no protection, they actually harmed those people. Yeah, some of these, some of these apos we've seen lightly lifts and ubers, and the valuations. I think it's it's a symptom of stocks and markets being overvalued. At the same time, there's too much money out there, you know, there's lots of money still on the sidelines wanting to chase,

and then we have the cycle of the heart. It's very similar to our c o s. The amount of advertising that gets done for these companies when they list, and it's just a horrible you know, I know, was it Um the plant based burghers that ran beyond made that ran from whatever price up nearly a thousand percent and then it dumps hod Um. The markets are just as wild, but yet we can't get up equin a

t F. Yeah, exactly. Well, you know the people, I mean, the sec somewhat right where the people aren't really educated and so they are like, well, shoot, I see uber uber is growing really fast. I use Uber. I like uber Uber seems like a great company. All invest into it, but they haven't really actually looked at there's no profit there, Like, how am I how do I get my money back if there's no profit? Right? So, like they've been blinded by, as you said, the marketing UM, but they don't see

exactly how it works. So I think sometimes maybe that protection that you think you're getting is actually kind of working against you, because then you let your guard down. I know what's happened to me in my in my personal life, you know, maybe UH one investment deal, I had this uh nineties six unit building in Atlanta that I was invested into, and UH I was investing with a guy I've never invested with, but it was uh he was referred to me by someone else that I

worked with. And because he was referred to me by someone else I worked with, UM, I let my guard down. I really didn't vet him or the project as well as I should have, and uh it turned out to be a complete nightmare. Went in the litigation A couple of years later, I got like of my money back, and uh, just one example of just I let my guard down. He was supposedly he was safe and it wasn't. So yeah, And that's the same in Australia and real estate,

so there's really a little less regulation around. And when we had the housing bubble, apartments were popping out left, right and center. And now we're finding out that they've got you know, cladding that's catching on fire. The construction is cracking. These Chinese investors were piling and runs money

into the next project and these things are collapsing. It was basically a Ponzi scheme and people were putting down deposits of a hundred thousand for these units because they thought they're going to sell them for a million dollars two years later. And now it's just all collapse and there's no protection. Yeah. So, um, where do you think.

Have you hear the hear the tagline on Twitter that bitcoin fixes this, like a hashtag bitcoin fixes this, And it seems like almost almost no problem that we hear. We hear like, oh well bitcoin can fix this, um. And I think at the end of the day, like almost every problem that we have in society really traces back down to the money. So I think that's why it kind of makes sense I mean, if you had a sound money again it fixes more problems than you

then you probably realize. But where do you think all the other crypto tokens sit in the in the ecosystem? Yeah, if I encourage everyone, if on which one video of ours, We did an interview with the docta um and we spoke about everything that's wrong in the world of health and nutrition and pharmacy and medicine these guys, and it all comes back to money. Now where these other old coins sit. Uh, some of them have a little bit of a community and a purpose, and let's let's talk

about that. Let's talk about that interview real quick. So health and the health system all comes back down to money. That's the interview that you had. So what we found was that my message to people was eight health fee. And there's an obesity, diabetes, heart disease epidemic in Australia, just like there is in the US. And it only came about since we had corporations spring up and again then all of a sudden, food becomes a for profit industry.

It's pretty simple to be healthy. Eat what people have eaten for thousands of years. If you're in the wild, you know, you can catch you can catch animals and eat a bit of meat. It's that's not meat that's been pumped with antibodies and growth hormones. It's a natural bit of meat that's lived in harmony with nature. Then there's plenty of vegetables out there, and there's fruit that you can find it's in season. You know, a few

nuts and grains and whatnot. You eat that diet. You know, we don't see animals in the wild running around with heart disease and diabetes and OBEs. So it's pretty simple. But now you walk into the supermarket of the shells are full of things that are process carbon, hydrates, sugar, bright packaging. It's all just become this for profit industry.

And this surgeon was a specialist in diabetes and he was having to amputate people's leambs because they were to that point where you know, they've got infections and diabetes is that bad. And then they'd wake up in hospital and get fed ice cream and orange juice, and he's saying, you've got to stop giving these people sugar. They've got

an infection. I've just cut off their leg. And then the cereal companies and the sugar companies came in and Ford hum and he actually got deregistered for a point and then he won his case and now he's become a bit of a whistle block. So how messages that. Yeah, the whole food and grain industry, supermarkets, it's all this this big for profit thing and then you get sick, and then the pharmacy is a big for profit thing.

Now as if people looked after themselves, I don't say, have a lot of money and be that would be a lot healthier and as an echo chamber because then all the doctors that have come up in the last whatever how many years have only been taught one thing, and so it's it's sometimes education is a bad thing, right if you've been educated with the wrong thing. And so we've kind of seen that echo chamber. I was at a bitcoin conference a month and then a month ago,

a month and a a half ago in Dallas. Um and Safety and was their author of the Bitcoin standard. He was he was talking and it was all the bitcoiners and Matt O'Dell and Pierre Rochard and Bitstein and anyway Safety and gave a talk and it was it was fiat money, fiat food. Yeah, and and basically the Fiat money, which is fake money, which basically creates all this waste,

has created fiat food, which is fake food. And in order you know, uh, sound money gives us this long time preference and and this fiat money, fake money, we all want short term, right, And so that's kind of what the food has done. And so um, they've basically Fiat money created Fiat food, fake food. And these guys, uh, they're all they're all carnivores, so there and I had never I didn't really know much about that. Uh, and they're they're just like meat eaters. But they they talked

a go ahead. Safetan watched video and I was putting in touch with the ductor into viewed. And when you first hear about card of very think men that is crazy. Where do they get their vitamin safe from or whatnot. But there's actually a lot of populations out there that only ate meat, um, you know, and I only ate fat. You know, down in the arty people only wild blubber

and whatnot. And there's more evidence coming out now and it's something that I need to research more that the more sugar and carbohydrates you eat, the more your body actually needs bottom and C is one of those um processes. So there's actually evidence out there that if you eat the whole animal, not just not just a big steak, if you're eating every part of an animal, yeah, a lot of vitamins and minerals and and live a pretty

healthy loss. Yeah. And I've really been in the diet exercise for the last thirty years, and I've I've studied a lot of a diet um and I thought I was pretty tuned into that, but I hadn't really. I wasn't really aware of this all carnivore diet, and and over the last since I've been back, I've been doing quite a bit of research into it, and uh, it's

it's compelling. I mean, I I recommend everyone just to spend a little bit of time on Google doing their own research to it, and uh, it's it's very compelling. I think it's definitely an extreme for most people. I'd love them just to stop with the more of a k tite dot and just eight those vegetables for its eight what we've been eating for thousands of years and cut out everything in the package. Yeah, and that's kind of what the what I believed, which is uh, eat

anything that's that's living or was living. Right, if it wasn't alive or isn't alive, don't eat it. So plants alive, you know, meat alive. UM. And so I've been kind of like a I've tried strict kettle before, but mostly like low car pipe fat diet. UM. Just try to eat almost no carbs if I can. UM. But so that's why I was completely shocked when he was telling me about this, And I'm like, but what about vegetables, Like, we need vitamins, right, we need nutrients from vegetables, And

he's like, no, you don't. Like the amount of nutrients we get from vegetables is so miniscule. You have to eat so much of it to make a difference. And you can get you can get all that and just a little bit of meat. So I'm not doing it yet, but I've been doing my research and it's compelling. It's it's interesting. It's actually very hard to make the transition.

So for someone that's the body is used to consuming a lot of sugar or even carbohydrates, it takes your body awake or more to to switch out of it to these KHI systems to stop breaking down proteins more so, that's why people feel terrible when the day they start these crashed thoughts. They've got an energy and whatnot. You actually got to do it gradually and build up. They

call it the ketto flu. That's hot. Yeah, but yeah, so anyway, that's Fiat money, Fiat food, and and just one one of the things is that you know, they've they've they've tried to use food as an inflation gauge. Right, so like the average basket of food was, you know, twenty dollars, and today you can still buy a basket

of food tween dollars. The difference was we used to get real food for twenty dollars, today we get fake food for twenty and so that was that was one of the points that was made on there as well. Oh yeah, I mean the basket of goods that he's used to calculate inflation. And you can see that your bottle of coke's gone down from six sixty meals to five hundred and now they've got these two seventy five

meal cans, but it still costs three dollars. And that's what you six sixty meal bottle of coke used to cost. And it's just this shrink flation effect. And everyone's seen that graphic where you used to get the basket of goods and what it's buying you compared to to big point over time. Yeah, what about in Australia? What about what about health insurance? I posted the other day that I pay I have a young family of four, very healthy. Uh, never go to doct We pay eighteen thousand a year

and health insurance. And that got quite a bit of an uproar, and I saw a lot of people from Australia chaming in about how cheap it was there. So up until I got married, like just basic health insurance for me was like thirty dollars a month, and then now we're married and we've got a little one more expensive, be a couple of hundred dollars a month, maybe a thousand dollars a year. Yeah, it was still seeing more people get rid of it because we're I think it

starts going into recession. We're seeing people cut out what they view is unnecessary costs. So the amount of people with private health insurances declining. It let's go to public. Oh well, we've got a pretty decent public system. So it's free. Yeah, yeah, cool, well interesting stuff. I always like to hear what it's like, get that perspective on other areas of the world. We've talked a lot of people from Europe and Russia and China and now Australia.

So I love that. So appreciate you taking the time to give us that perspective. Um. Yeah, So why don't you just tell everybody where they can keep up with you and the news that you put out if they want to. Yeah, so Nuggets News guys U. I'm Alex sawander Is. I'm pretty active on Twitter, but yeah, Nuggets News on YouTube is where we put out most of our contents UM and nuggets News dot Com Today Youth for everything else that we do. Yeah, perfect, all right, Alex,

thanks so much taking the time. We'll talk soon. Also, thanks Mark Cheess. Guys. Hey, if you like this episode of the Market Disruptors podcast, please help us take this to the top of the podcast charts. Just please do me a favor and rate, review and subscribe. Taking fifteen seconds to just leave a quick review goes a long way and helping us reach more people and disrupt more markets. I really appreciate you listening and I'll See you next time on the Market Disruptors podcast