All right, welcome back. You are listening to another episode of the Markmas Show where we talk about bitcoin, we talk about the decentralized revolution, and we talk about politics, technology and finance in the context of those. So just as we can have a better understanding of what is going on in the world, how it's changing, and more importantly, how we can personally navigate that, so we can survive
and thrive as this is changing. Now, one thing about bitcoin that's very difficult for a lot of people to understand is that it's a lot of things. It's a lot of things, and it's going to be more things than what we know it is. It's a new technology, and so as humans we try to understand it by comparing to something else that we know. It's sort of like this, sort of like when electricity came out. The first application of electricity was the light bulb. So then
you would say, well, what is this electricity thing? And you would say, well, it's sort of like a digital candle. But what do we need that for. Candles have been light for five thousand years and they work pretty good. And look, it's portable. I don't need all this these wires and all this stuff. Right, So, um, bitcoin is like digital cash. Yes, it's like that, it's like digital gold. Sure, it's like that, but it's gonna be so many more things and so it's hard to understand that, and so
I like to look at that. But really, um, it's fixing a lot of things. And when you're looking at something new, like a new technology like this, one of the least important things to look at is the price of it. What's more important is the problems that it's solving. You're trying to predict where it's going to go in the future, and looking at the daily price of the weeklier monthly price is just a distraction in my opinion. Now, I do like to say that the price is like
the ultimate bait and switch. It sucks people in for the money, for the number go up technology, and then it switches them into freedom mindset, long term mindset. But you know, like I said, it is it is the bait and switch, and so people are coming into it for the money. And when you look at it from the money standpoint, you think about the the adoption of it, and you look at Wall Street coming into it, the
hedge funds coming into it, etcetera. And one of well, the biggest bank in the United States, JP Morgan Chase head up by Jamie Diamond. Um, you know you would think that being one of the biggest banks, and Jamie Diamond arguably being one of the most powerful and influential people in the United States and in the world because of running the bank, he's been a giant opponent of bitcoin. I think it was seen he fight famously kind of came out and said that you know, it's a fraud,
it's a scam. He said, if anybody at JP Morgan even traded, if they would be fired. Um, he's been very vocal against it. And and of course it makes sense, right, I mean, running the biggest bank, you don't want something to come compete for you. However, you know the old saying, if you can't beat them, join them, so to speak. And of course we've seen all the big banks, including JP Morgan, getting in on the bitcoin action. And this week we saw an article come out from the research
team that was pretty amazing. Banking giant JP Morgan said in a note Wednesday that bitcoin and cryptocurrencies are now among its preferred quote alternative investments. So wow, what a difference, right, went from Jamie Diamond saying if anybody even traded it, they'd be fired. To now the banks saying it's in their preferred alternative investments. So what does that mean. Well, let's let's break this down a little bit. So it says that bitcoin's steep sell off. So what does that mean?
The the bitcoins steep sell off? So the price of bitcoin is down? Okay, let's down. I don't think that's a big surprise to anybody. It had reached a previous UM high of about sixty in November one, and since then it's been sliding down. I'm gonna talk about how far it's down, especially in relation to some of the other tech darlins. But in bitcoin, steep sell off as well as that of other cryptocurrencies has been profound, and there's been more profound than other alternative investments such as
private equity, private debt, and real estate. A couple of things I'd say about that private equity. Private equity, that's not a liquid market, it's not marked to market. What does that mean? It's not really we don't know the price of that every day. UM. A lot of private equity, especially when it comes to like venture type deals. You may not know how that shapes out for seven to ten years. UM. Private debt, again, that's not marked to market,
there's no liquid event. Real estate it's not marked to market either, and so um, of course it's much more volatile, it's much more profound. In their words, but it said therefore, the Bank envisions more room for a rebound in the digital assets class than in other alternative classes. So what they're saying is that because bitcoin has sold off more than equity, private debt, and real estate, they expect there
to be more of a rebound. So notice they didn't say they think it's going to zero and it's going to crash. What they're saying is, no, it's going to rebound, and it's going to rebound even faster than those other alternative classes. Quote here it says we quote we thus replace real estate with digital assets as are preferred alternative asset class along with hedge funds. That's what they wrote for the Strategist. So now they're saying that we think
that bitcoin is better than real estate. That's what they're saying. I guess what they're saying is they think that over the next you know, near term, that bitcoin will rebound faster and higher than real estate, and it's their preferral turn of asset class. JP Morgan strategists reportedly said um that they're sticking with their view that thirty eight thousand dollars was a fair price for bitcoin. It's about twenty seven point five percent higher than its current price of
about twenty nine thirty thousand dollars right now. So a lot of times people want to know, is it a good price? Is it dog? Should I buy? Should I? Should I not buy? They say that they think the fair market prices thirty eight thousand, which is higher than where it is today. So what does that mean? Does that mean that it's going straight up to thirty No, it definitely doesn't mean. That doesn't mean that it can't drop lower than here. No, it doesn't mean that either.
But what it does mean is that they're they're they're projecting what they think to be a fair market valuation today of about thirty thousand dollars now. As an investor, the goal is to buy low and sell high. Right, That's easy, Well, it's easier said than done anyway. Uh, it's so easy to buy low, But how do you know when it's low? And how do you know if
it's gonna go high. Well, you're trying to figure out what these fair market valuations are, and so I think, Um, what they're saying is that they think the fair market bios thirty eight thousand. So anytime you can buy below that value, that would be considered a bargain. Now, that doesn't mean that fair market value won't continue to go up, which of course it will. JP Morgan and City Bank
have also put out guidance. They think that bitcoin will overtake gold Well Gold about a twelve trillion dollar asset, which gives us about a twenty x upside from here just from that alone. You know, when you're looking at venture type deals, well, you're trying typically trying to do is trying to invest into a company that's going to create a new category. So for example, Uber of us
an example before. But with Uber, let's say that you know, you're in Silicon Valley getting pitched Uber and they're like, hey, I have this app and it's gonna help you ride chairs and people can be able to call cars from their phone. And you're like, well that's stupid. I've never heard of that before. Um, how much do you think it's worth and they're like, oh, it's worth a hundred million dollars, Like, well, I never even heard of this before. How that did come up with a hundred million dollars.
That's that's a ridiculous evaluation. Well, um, you know, the taxi industry is this big, and the limon industry is this big, and the van chair rideshare industry is this big, and if we can get five percent of each of those, then we can get to a hundred million. Right, So something like that. And you would also look at the same with bitcoin, if it can overtake gold per City Bank and JP Morgan's guidance, Well, that's a like I said,
t X right there. Okay, what else, Well, it's kind of like having a Swiss bank account in your pocket. Swiss bank accounts have always been the best place to park money offshore, but not so much anymore now these rush ridges and oligarcs are getting their accounts frozen. However, the rich still put their money into offshore bank accounts to protect it. And there's about forty trillion sitting in offshore bank accounts. Could to get ten percent of that, well,
there's another four trillion there. There's twenty trillion dollars in negative yielding bonds could have take five or tempercent of that. Okay, there's another two two to four trillion dollars and very quickly you can see how fast that can start adding up. So while they say that they think the fair market value today is thirty, doesn't mean that's where the cap is. That doesn't mean where it's going to go. And it
depends on obviously what time frame you're looking at. I like to think if you're gonna hold bitcoin for at least three years, you don't really need to worry about it. And I say three years because there's never been a point that you could have bought and been underwater three years later. If you would have bought at the peak in twenty dollars took about three years to get back
to a new new all time high. Um. But it's not just that there's a new report here that I want to talk about says that bitcoin is better than the NASDAK. Now NASDAC is all the tech heavy stocks, the fay, Facebook, Apple, Netflix, Google, et cetera. And I want to show you that you know, bitcoin is too volatile supposedly, but is it Is it doing better than the fan stocks. I want to talk about that and more. I got I got some numbers in front of me
and it is going to shock. You're gonna be blown away here, um, and I got some stuff coming out of the bankers and you'll be surprised what they said. You're listening to the markma Show. We're talking about bitcoin, cryptocurrencies, the decentralized Revolution, breaking it down for you play by play so you can navigate this correctly and more. I'm gonna be back with all that in a second, so don't go away, all right, Welcome back. You are listening
to the Mark Moa Show. We're talking about bitcoin, We're talking about the decentralized Revolution, and we are narrating it. We're navigating it for you so you can take advantage of it, not be left behind. Now, before the break, I was talking about JP Morgan changing their story. You know, if you can't beat them, join them kind of thing. Or maybe it's the Gandhi quote which is first they laugh at you, then they fight you, and then they
join you kind of a thing. But Jimmy Diamond JP Morgan has been way outspoken against bitcoin, saying they would fire anybody who even traded it. And here they are now saying that they think it's gonna overtake gold, and they think that there's a upside on bitcoin right now today based off what they consider the fair market valuation, which is pretty amazing. Um. Now that's their guidance. I don't know if that's not necessarily my opinion. Um. Another
analyst that I follow a good friend, Nick Bottia. He's been on the show before. UM. He put out some some reports this week showing based off of about five different metrics that he put out that he thinks maybe it's more around Um, the bottom, I should say is around twenty to twenty, about twenty two thousand and so what do I mean by that? The bottom meaning he thinks that if if, if it did, if it could
get pushed down that far. And I'm not saying it will and probably not JP morgansond is gonna go up. But even if it did, if some if some of these hedge funds attacked it, you know, um, you know, whatever, the markets crashed and people rush for liquidity. He thinks that even if it got down there, that would be the absolute bottom and people would buy it back up from there. UM. And so you know, we'll have to
wait and see. So if the bottom is somewhere around twenty and then the current fair market values UM forty, that means you're risk to reward ratio is pretty good. I think, I said, if it just overtakes gold, I mean that's a twenty x upside. So I have a twenty x upside with a you know, zero point two percent downside. Like I like those odds. Those are pretty
good odds and you should too. Now, the the stock market and really the economy United States has been driven by the tech stocks over the last twenty years, of course, and over the last decades specifically, it's been driven by internet stocks. We talked about the fangs. The fangs are Facebook, Apple, Netflix, Google, Right, those kind of lead lead it, and all the tech stocks are are Most of these tech stocks are in the Nasdaq INDEXI, of the SMP five, of the nasdacum
et cetera. And so the NASDAC has been the place to be in So financial advisors they like to talk about how, um, how bitcoin is, uh, you know, it's a new asset. It's maybe it's like a tech stock. It's been kind of trading along with the NASTAC sort of like it's been treated like that, and because it's trading along with that, it's it's got a lot of high correlation, so meaning they're correlated moving together up and down,
which they are. And I think what that demonstrates really mostly is just that a lot of these tech investors are also invested in the bitcoin right now, and so they just treat it like everything else in their portfolio. Now, everything is correlated until it's not, and so it doesn't mean it always will be that way. But I think that if we if we look at this, if we if we looked at you know, a lot of a lot of these tech investors look at bitcoin as another
tech play. So could bitcoin be like the next Amazon, Not in a sense of what it does or the use case of it, but just in how um the valuation could grow? Things like that, Um could it be the next Bitcoin? Could it be like the next Apple, Facebook, etcetera. But I think that, um, if you look at it that way, it's way too small, it's way too limiting. I think a much better analogy would be to look
at um bitcoin as the nasdack. Not one of the companies in the NASTACK, but as the NASTACK because what we're seeing is we're seeing all of these companies now being built on bitcoin, just like all these other companies are on the NASDAC listed on the NASDAC. Now all these other companies are being built on bitcoin. We're gonna talk about some of this new technology that's being built
on bitcoin in a minute. But if we look at this like I said, these, you know, most of the tech investors, most of the stock investors, really most of the wealth that's been created in the stock market has come from this tech sector. The top seven companies in the index are Apple, Microsoft, Google, alphabet Um, Amazon, Tesla and Video and Facebook or Meta as it's called, which have generated in trillion dollars worth of wealth in the last decade alone, which is pretty big. But they're not
quite the darlings that they have always been. And so what we've seen for a couple of things. One well we really saw through the election process in is that there's a lot of regulatory risk that's been coming to these tech stocks. So um, everyone talks about we'll just wait until they regulate bitcoin, which I would respond with, well, bitcoin is already regulated. As a matter of fact, is
probably the most regulated asset in the world. Every financial or every regulation is in entity in the United States already regulates it, with the I r S, the SEC, the c f TC, we got FNS in I mean, you name it. Everybody has put regulations on top of bitcoin, and they don't all chime in on other types of assets, and so it's already there. But what we're seeing is increased regulations against these um text stocks and so um.
You know with President Trump, you saw you get off of Twitter, but before he got kicked off of Twitter, they were talking about I'm repealing this protection this section two oh three um that they have. I'm not going to get deep into that right now, but you know, there's allegations of monopolies being built, of manipulation alex and Tampa, Tampa, tampering, of you know, censoring, things like that, and I think more and more people are starting to wake up and
see this. The regulators are, the politicians are starting to see this as well, and there's there's a lot of regulatory risk there and I think the future of tech stocks is greatly diminished because of that. I think we've seen all this growth, but in this environment that we're in all the money in the markets is rotating from tech and growth and moving into value commodities, things like that UM with less liquidity, without the ability to borrow a bunch of money, it's gonna make it harder for
them to grow. And I don't see them repeating the tech X return over the next decade. That's where bitcoin comes in. I think bitcoin can outperform that. Now. A lot of people say that bitcoin is two volatile. It's two volatil. Right, let's take a look at that. So year to date from January one to today, Bitcoin is down thirty seven it's a big drop. I'm not gonna lie seven percent. But you know else is down thirty percent year to date. Tesla. Tesla's down thirty seven percent
year to date. Amazon It's down thirty four percent year to date, about the same. Netflix is down sixty eight percent year to date, almost double whipitcoins down. Shopify is down seventy five percent year to date. Meta Facebook is down forty four percent. So when you look at the tech stocks Tesla, Amazon, Netflix, Shopify, Facebook, Bitcoin is doing better. So, yes, it's down, I'm not gonna say it's not. I'm not gonna lie to you it's down, but not as much
as Tesla, Amazon, Netflix, Shopify, Meta, Googles down. So not quite as bad and so big. As I said, bitcoin is is being looked at as like a tech stock. It's trading along with the NASDAC. There's a high correlation there now. Doesn't mean there will always be there, but it is there now. But it seems to be holding up better than Tesla, Amazon, Netflix, Shopify, and Facebook Meta. So is it too volatile? Well, if you think that's too volatile, then you also have to think all of
those are too volatile as well. Now, volatility is also a good thing, right. Volatility works both ways. It goes up and down. How does an asset like bitcoin go from zero to being worth thirty thousand dollars today without volatility? The answer is it doesn't. If it wasn't volatile at alogyy stuck at zero forever. And so you want volatility, you want prices to go up and down, and that's
what's happening. Now you're listening to the Markmas show. We're talking about, of course bitcoin, we're talking about um this decentralized revolution that the world is going through, and we do that by looking at finance which we're doing right now. Of course we do that through looking at politics, which affects the finance, and of course how technology reshapes the world. I have a lot more to cover. I want to talk about what some of these people at World That
Comic Forms said about Swift. I want to talk about the FED chair, talking about cb d c S, I want to talk about what's happening with the central bankers, and so much more. Don't go away, all right, welcome back. You are listening to the Mark Moa show where we talk about bitcoin. We talked about cryptocurrencies, and we talk about the decentralized revolution, and I was talking about before the break, how we're seeing this massive shift going on
right before our very eyes. Of course in more ways than we can count, one of which is a capitulation by some of these Wall Street banker types. I'm talking about Jamie Diamond, head of the biggest bank in the United States, maybe the world. JP Morgan, and how he went from Bitcoin's the biggest fraud scam thing in the world to um and if anybody at JP Morgan ever
traded it on fire, him too. Now JP Morgan putting out guidance saying it's gonna overtake bitcoin and how they think it's um has upside today from where they consider its fair market value. Pretty amazing, pretty big about face if you will, UM. And we're seeing it all over the place. I mean it, it is, it's all over the place. We saw this week that at the Federal
Reserve UM the FED Vice chair Lele Brainerd. She was being questioned by the House Committee on Financial Services asking about um C b d C s UM, which stands for central bank digital Currencies, and being asked specifically if a cb d C could coexist with stable coins? So what does that mean? And what does that have to do with bitcoin? What does that do with the financial system?
Well a lot, so, the US Federal Reserved Vice Chair Litle Brainard said that a central bank digital currency s CBDC could, in fact, it could exist alongside stable coins and provide a measure of safety. Why would it exist provide a measure of safety? Well, let's talk about that. So, she says, CBDCs could coexist with be complementary to stable coins and commercial bank money by providing a safe central bank liability in the digital financial ecosystem, much like cash
currently coexists with commercial bank money. So currently we have stable coins. If you're not aware of what they are, a stable coin is basically a token that represents a dollar. So if I give you a dollar, if I give a company a dollar, they give me back a token that represents that dollar, and it's stable. It's a stable coin. It's stable with a dollar. That token is always supposed
to be worth a dollar. And and it really got um popular and famous, with a tether being the first one, because it made it very easy to trade bitcoin and other cryptocurrencies to go in and out of dollars because in the beginning days, UH crypto exchanges didn't accept any form of dollars, and so if I wanted to get out of my position, I could go to a stable coin token um whereas today a lot of exchanges now do operate in US dollars, so that's kind of taken
away some of that. But we have all these stable coins, and there's lots of them out there now and they're really getting out around the world, which, um, you know, from a central bank, especially from a Federal Reserve US centric viewpoint of central bank, that's a good thing because there's more dollars going out to the rest of the world. More people are using dollars now, I've I think it was a week or two ago I was talking about this whole meltdown of this Luna Tera stable coin token.
I don't want to go super deep into that again, um, but that was one form of a stable coin, and that was this algorithmically controlled stable coin where they were trying to create this fancy complicated algorithm that the stable coin, when you give him the dollar, that dollar token that you now received would be redeemable not for a dollar, but redeemable for a token that a Terra Luna token,
that you would get a dollar's worth of it. But what happened was the valuation of those Tera Luna tokens went from about fifty billion down to zero, so there was no dollars worth of those tokens left to get. So that's a big problem. I broke all that down for you. So when you're looking at stable coins, you
have a couple of different ones. And so what I warned, and I would continue to pound the table on warning, is that any stable coin token that's not backed or I should say fully reserved with dollars is going to be a problem. And why do why do I say with dollars. Well, what a lot of these stable coins like Tether have done is they say they're quote fully reserved,
But what are they reserved with. That's the question. If they're reserved with terror Luna tokens that become worthless, then there is no there's no reserve, right, there's no value there. And what happens is it creates these runs on the bank. So if if I'm holding these tokens, you're holding these tokens, and we start to think that maybe there's a chance we don't get our money back, then we'll all quickly go to redeem those tokens and there won't be enough
money left because they're fractionally reserved. They don't have all the reserves. So I think it's important understand that. And as far as I know, there's two different stable coins that are fully reserved with dollars. That's U s d C and that's U g U s D So those are only two that are fully reserved. The other ones I'd be watching out for. But she's talking about and
so okay. So then um I made the case in this other radio show podcast, is that these stable coin companies that are doing this like Tera Loot and all these other ones. It's sort of like this free banking period that the United States had back in the late eighteen hundreds, where a bank would open up, they'd create their own currency, and they all have their own different risks and rewards and paid out their own interest, and many of them blew up. This was the reason why
they gave us for creation of the Central Bank. And they said, all these banks are blowing up, and all these people are losing their life savings, and so we should create a central bank, the Federal Reserve, to backstop all of these other banks. And so if one of these banks fails, then we'll put the money in so the people don't lose their deposits. Which you know, sounds like a pretty good idea right off the bat. A couple of things that are wrong with that one um
that takes away competition. So banks should survive and fail based off of how good they are, the decisions they make, etcetera. I have the choice, like with stable coins, I could choose to use terror Luna and I could stake it to earn, but I have to know that there's enormous risk with that, and I could choose to take that risk if I want, or I could choose to use one that are fully reserved like us d C or g U s D that offer no yield, and then I would say, well, that is no risk and there's
no yield. Or I can take twenty yield and I can take the risk and it's up to me, and if that fails, that's on me. I took the risk. But what it does it allows competition, It allows innovation, allows new things to be tried, That allows me to choose what I want to do UM. But what what she's talking about here is creating the central bank digital currency that could then backstop these UM stable coins. That's what you're saying. They could protect them, which is no mobile.
But the problem is that it leads to the central banks creating a bunch of money, and when they create a bunch of money, they create lots of problems and distortions in there UM. She also wrote that thoughtful regulation is necessary given the recent collapse of Terra, USD and Luna.
The rapid ongoing evolution of the digital financial system at the national, international level should lead us to frame the question not as whether there is a need for essential bank issue digital dollar today, but rather whether there may be conditions in the future that may give rise to
such a need. So she's basically saying, look, um, we need thoughtful regulation because look like this Terra Luna, it blew up, and um, there may be more problems in the future, and so we should probably build this out now so that when these problems do come in the future, we're able to handle that. And what I would say is back to actually what I said before, which is
these companies should be allowed to innovate. These companies should be allowed to try new things, and it should be up to me to decide if I want to work with them or not. Now, what I might like to see, and I was interviewed about this, uh just earlier, what I would like to see is maybe a requirement for more transparency. What I would like to see is, you know, more transparency so I can make informed decisions. But again that's on me. So I was recently meeting with some
of the people. I'm not going to name the name of the company, but I told them straight up, I said, look, you need to have more transparency, because for me, I can't work with your company because without that transparency I don't know what my risk is and if I don't, if I can't quantify my risk, I can't move forward with you. And so UM, I think the market will
demand that. I would like to see that. I mean, if if the regulators want to demand and regulate, they come up with more transparency, I think they could be a good thing. But I don't think they should take away their ability to innovate. I want to continue to see innovation. I want to continue to see UM people trying new things, progress, et cetera. And I understand it's gonna be risky, but it's up to me to decide
if I want to do that now smooth. He has never made a skilled sailor, so if I lose my money, that's on me. And guess what, I probably won't do that again. And if I do do it again, then I probably shouldn't have the money in the first place. And I know that's a harsh reality, but that is the truth. That's the way it goes. You're listening to the Marks Show. We're talking about bitcoin and cryptocurrencies, UM
and so much more because it is so exciting. UM and bitcoin is is the fastest growing asset over the last twelve years, and JP Morgan says it is an undervalued asset by about just now today you listen to the Mark Moa Show talking about bitcoin and cryptocurrencies. We'll be back with a lot more. So don't go away, all right, welcome back. You are listening to the Mark
Moa Show. We're talking about bitcoin, We're talking about cryptocurrencies and the decentralized revolution, and we were talking about um stable coins CBDCs. How the Federal Reserve chair Lele Brainerd says that they think that they should have CBDCs to backstop stable coins. Pretty interesting. But talking about central banks, we also saw this week something really big, which was a convention of central bankers. And it's not the first
time this happened. We have these central bankers that get together. Of course, um, almost not every but almost every nation has their own central bank. Of course, the United States, that's the Federal Reserve. In Europe it's the ECB European Central Bank. In Japan it is the Bank of Japan boj etcetera. And of course smaller nations have their own central banks as well. Now fun fact um in the Communist Manifesto written by Karl Marx in the late eighteen hundreds.
He gave a ten ten points of what needs to happen in order to get this Marxism, the socialism communism into play. Point number five is that each nation should establish a central bank. So central banks are part of the Marxist plan. Central banks are communists in Nature's number five in this ten point plan. Now, also fun fact, I wrote a book called the Uncommunist Manifesto, which basically took the same format, same four chapter, same length, and I just rewrote it, and I gave my own ten points.
And of course I said that we should abolish all central banks. I'm not a big fan, because nobody should be creating money from thin air, forcing us to use it and enriching themselves. Nobody should do that. It's not about taking it from one group of people that are bad and given it to another group of people that are good. It's about nobody should be able to control it.
But anyway, back to the conversation here, and so these uh, these forty four different countries, set representatives from thirty two central banks and twelve other financial institutions, and they all got together in El Salvador to learn strategies about financial inclusion. Participants in this financial form are members of the Alliance for Financial Inclusion or a FI, an organization that promotes and develops economic policies to help improve the lives of
poor and unbanged populations. So Alliance for Financial Inclusion. If I now, why why do they need an Alliance for Financial Inclusion? Think about this for a second. Now, I believe that this, uh, this smartphone I have in my hand right here is the great equalizer. With this phone, I could learn anything. I can go on YouTube, I can learn anything, I could meet anybody on social media.
I could do almost anything with this. You have kids, teenagers anywhere in the world with Instagram account that could make a hundred thousand dollars a year or more. It's a great equalizer, except what if I'm not allowed to be in the financial system? So how could I earn a hundred thousand dollars? Now you might say, well, what do you mean who's not able to be in the financial system? And I would say that over two billion adults, about half the adults in the world today are not
in the financial system. Why why do they have this a f I financial inclusion? Why about half of the adults in the world today don't have access. The answer is mostly permission. They don't have permission. So if I'm a fifteen year old kid growing up in Iran, for example, I'm not allowed to join the financial system that don't allow me. I don't have permission. Also, it's a cost prohibitive.
So if you're an al Savador, for example, it might cost you fifty a month to have a bank account, but when you only make a couple hundred bucks a month and you can't afford fifty bucks a month for a bank account, so they don't have them. Um, if I run a small little roadside stand selling papoosas or some food or coconuts or whatever, well I need about you know, twenty dollars a month of revenue in order
to afford a merchant account of credit card processor. But if I don't do that much revenue, which they don't, I can't do that, so I have to take cash. I can't be in the financial systems and system So there's this inclusion that's not they're mostly because of permission, which of course bitcoin is permission lists, meaning anybody can grab their smartphone, whether you're here in the United States,
Developed world, or any of these third world countries. You can download an app, a bitcoin app, and you can have your own bank account in your own pocket, and you can instantly be in the global financial system, where me sitting here in the United States can instantly send money to somebody in Al Savador in literally like a
fraction of a second for almost free. But anyway, so they all met here um UM it's an organization that promotes and develops economic policies that help improve the lives of poor and unbanked populations, which sounds great again, how can we have equality if people aren't allowed to join the financial system? Now UM Al Savadre has been a
member since two thousand twelve. They've been hosting the latest rounds of meetings for a f I S Digital Finance Services working Group and the Small Medium Enterprise Services Working Group and according to El Salvador's president, Naya Bukeley Um, he said, the gathering focused on financial inclusion, digital economy, banking, the end banked, the big end, and the bitcoin rollout and its benefits. Now, this was not a bitcoin conference. This is just the bankers around the world. This a
f I for Financial Inclusion getting together. Now, they did happen to get together in El Salvador, which, in case you've been living under a rock, then you already know that El Salvador was the first nation in the world to make bitcoin legal tender. They have it on their books, on the reserves, and they're working on rolling out a bond, a bitcoin bond as well. But it is UH. It's specifically mentioned here that this was not a bitcoin conference.
So we saw in an interview with the Salvador and State News Media Bongi Malabo, a representative from the zam Zambian delegation in Africa um AND, in reference to the adoption of bitcoin, he said, quote, it's a progressive move. It's the evolution of money and the rest of us need to catch up. So he sees it. He sees it's happening. UM. Of course, the UM Central Republic of Africa just made it legal tender as well, so it's
over in Africa. UM, we're starting to see that. But it says some countries are just not ready for bitcoin, um and, so Paraguay Central Bank UM released a statement saying the country's population, UM, we're not about the adoption of cryptocurrencies. Um and has said that right now because the central bank doesn't issue them that they're not legal tender. Um,
so it wasn't a bitcoin conference. But they're there for financial inclusion, and of course they're in El Salvador where they're using bitcoin for financial inclusion, and I'm sure they're all taking notice, which is why they're there. They went on to say that quote the majority of attendees are not low level bureaucrats. So the attendees were not just a bunch of low level people, but they were central bankers and decision makers and their decisions will impact their
home countries, which is pretty big. So El Salvador is the bitcoin model. Eight months ago they you know, they adopted it. They made it legal tender. Like I said, they've put on their books. What they've seen is that I didn't look up this number of the top of my head. I think it was the amount of capital that's flowed into El Salvador since they announced this is like up, I want to say, And so what do
other countries notice where they go? Will shoot? If they got more investment into their country, then maybe I could adopt it and I could also get investment into my country. Right, so they see what happened. They see what the result is and they want more of that. They see that again, this financial inclusion. So all these people in El Salvadore that haven't been able to get a bank account. If I want to send somebody money in El Salvador, I
have to go to Western Union. They have to get on a bus, go to San Salvador or wherever they're app go to right a bus an hour or two, get the cash right back on the bus an hour or two. Maybe get robbed, you know, hopefully not um and they lose depends on the amount because it's like a dollar percentage, but maybe they lose up to thirty percent of their money gets taken up in fees. I don't remember all the numbers off the top of my head.
Up Ben del salvad are working with them, but um, imagine if they could get money sent to them instantly and free, If I could send it from my bedroom in my underwear, they could get in their bedroom and their underwear and that taken in fees aren't taken Imagine if all that I think it was, I don't know of their gdp AS remittances. Forgive me if I'm wrong on that number. But imagine if other GDP they could increase it by thirty percent, because that's what we can
getting eaten by fees. And that's exactly what's happening. And now that money can be used to be spent in the nation on other more productive things instead of going to someone like m Western Union. UM, it's amazing what's happening. Now. There's a lot more to talk about, UM, but that is the big news. UM, it's changing and it's changing fast. Don't be sleeping on this information. You're listening to the Markma Show talking about bitcoin and cryptocurrencies and the decentralized revolution.
Thanks for listening.