Preston piss needs no introduction. So of course, as always, we get into some crazy talk before. So we were talking about, let's just jump right in. I want to talk to you about this global bond market. But we're talking about money transmission, sending money overseas, and we're talking about how do we want to talk about what asset? No?
I mean, I mean I'm talking about lightning and how you know there's not.
Enough liquidity to send massive amounts of money through global settlement?
Yeah, yeah, I just when I look at Lightning and I look at Layer one bitcoin and you just see that it's a true free and open market. The demand for Layer two right now is not at a point where, you know, if I wanted to send five thousand dollars worth of bitcoin on Layer two or ten thousand, you're probably going to run into some limitations with that as far as channel management unless you've opened like massive channels, and we're obviously talking about if like somebody else was
managing the custody of those channels on your behalf. I guess just not there from a capacity standpoint. But it's also because the demand hasn't fully arrived. We're at the infancy of that. So I just think it's something that's going to naturally solve itself with enough time and enough demand that starts popping up in the global South and maybe resourcing to resourcing because of AI and micro payments, like all that stuff is in my humble opinions coming.
And why do they even need that much liquidity? If you want to send one hundred million dollars, just send it on maintained.
Well, that's right. So like if it's a large amount, like if you're settling on a house, like I'm sorry, you're just never going to do that on layer two. You're going to do that on layer one? Why would you want to Why would you want to want the security? It's ten minute blocks, Like you're one hundred x better than.
Even if you're doing it at peak time like we just had with the ordinal thing. What are you going to pay one hundred bucks to settle it?
Yeah, not even or whatever.
Yeah, it wouldn't even be that.
It would be significantly lower than that. So I think it's just for a lot of us, like we can see kind of where this is all going, and we're a little impatient because like, how how can't we just
be there right now, Why why isn't this happening? And and then you get the whole uh, all the all the things happening on the fringes of all these other tokens that are saying, well, we do have the liquidity, right, but you don't have the security and you don't have the decentralization, which therefore means you don't have the twenty one million hard cap because you don't have those other two things right.
Right, and so especially Ethereum, Yeah, I mean, because they they just decided to become ultrasound money. But the fact that they changed it disproved that, Yeah, exactly. At least at least XRP hasn't changed one hundred million tokens. I mean, at least they haven't changed it yet yet, whereas Ethereum they seem to change all the time. Yeah, yeah, so yeah,
I agree. I mean, it doesn't have liquidity, but again, why does it need to If you want to transfer a large amount of money, you would think you would want that to be immutable.
Yeah, right now, where I think the debate on layer two gets really interesting when you're thinking of it like five years, ten years from now, is like, what's going to be really dominant between like people that are just outsourcing the custody and the channel management, or are people actually going to want to do some of that on
their own. And I think that's up for debate. I know when I'm using noster or you know, sending SATs to a friend or whatever, and it's a small, like micro size, like I'm sending somebody five cents worth of bitcoin. Like what I find myself doing, and I guess I'm a little ashamed to say this as a bitcoiner is like I open up wault of Satoshi because it just works and it's simple and that like I'm not managing
the key. Somebody else is managing the keys, and like if I've done it with one hundred dollars worth of bitcoin and it's gone, I just load another hundred dollars a bitcoin in there. Because the speed at which all of their channels that they've opened through their node network that they run is just it's just so turnkey. Yeah, and if I mess up or it gets compromised, like the email that's associated with gets compromised, like it's one
hundred bucks whatever. Yeah, right, I'm curious that like five years from now, is that how most people in the world are wanting to use it, and if so, is that an issue that is that a attack factor? Is that a centralizing you know?
I don't think so. I was just outside with Gary cardone grand card owns brother, and I mean, he's very very smart, very blown away, but he's not at the level that most people are. So, for example, I was talking about wallets, meaning like that's the toasty wallet or whatever, and like he wasn't up to speed. So he's like, I don't really understand this, and I was like, okay, Well, he's like, you know, I don't want to. I don't
know if I trust a one. And I was like, so, I like, I have this, like how much cash do you carry around? A couple hundred bucks? He's like they're probably more in that, but the point is you don't carry more cash here than you'd want to lose exactly. He's like, yes, maybe a thousand bucks. I'm like, yeah, if you lose a thousand bucks, nobod deal, right, So
that's what you'd carry here. To your point, if I use a hosted solution and I lose it, like whatever, I keep the rest in cold storage, just like you would with your bank and so you didn't get that. And then I showed him like I opened up Venmo and I was like, if I want to pay you on Venmo, I would, and I did. I opened up in mycet, I hit pay and it opens up to scans and now you got to show me your QR code and then I venmo cure and then I opened up blue wallet. That's what I just used to get
Safety's new book downstairs. And open up blue wallet and I shows how many SATs I have send and opens up a thing to scan a QR code like it's the exact same thing, and he got it. He didn't know. Is that easy? But to the point that you're making you use that wall to care around a little bit of money, whether you want to use on a hosted solution or not. And I think the key piece here is that you can choose the trade off that you want. That's the key piece, no doubt about it.
And we want it to be a There's one thing we all learned and pitcoin is like, I want to free and open market. I don't want to dictate anything. I just want to make sure that if a person wants to have the option to run their own note and to manage their their champ that somehow, some way that does not ever become from an engineering standpoint, removed through some type of disincentive that I'm not thinking about today.
And so although I don't think that's going to be the case in five years from now, that like a wallet of Satoshi where they're a custodying the private keys on layer two becomes this dominant thing and that the other gets pushed away. I don't think that's going to be the case. But I don't know that I've spent enough mental rigor working through the game theory, working through the engineering, working through the vulnerabilities, and like what might
pop out of it. So like I'll give you another example of like a vulnerability that I'm thinking a lot about is like on the inscription side, huge topic right now, right, And so David Bailey, love him, wicked smart, right, He's he's looking at everything that's happening on the inscription side and he's saying, Hey, everybody that was doing all these bs activities and he's like, in their activities on Ethereum and like all these other chains, He's like, they're coming
the Bitcoin, right, He's like, but it's not a bad thing. And the reason it's not a bad thing is because if they're not actually creating economic value, like, it'll only persist for so long and then they're going to be bankrupt because nobody they weren't, you know, like actually having real customers. It was all just fake. And he's like, but it's utility. It's people coming here and using the network. You might not agree with how they're using the network.
So like, that's his argument, right, and I agree with all of that, But I also look at it from like, Okay, so five years from now, is are these people going to create some massive campaign to increase the block size because they don't want the miners similar to like what you saw on ethereum eating up all this value? And so is there this Does this introduce kind of a initiative that is going to bring back the whole argument for large blocks?
I don't.
I have no idea, but as somebody who's just trying to assess risk, you know, in the future, where does that go?
Well, a couple of things I'd say about that. So, first of all, unintended consequences in complex systems exactly, So when they made the upgrade, they didn't think that this would happen. Is the unintended consequence of that previous action, which is why myself and I'm sure you, I know Michael Saylor has been vocal about like let's just leave it as it is, like let's bring the changes on
higher levels. So because unintended consequence. Yes, The other thing I'd say about that is, of course anyone can change the blocks as anytime they want, fork it, go ahead and fork it right the market at the market choose. But when I was doing the news desk this morning and with Pete Rizzo and we were kind of talking about this, and he was saying that he also thinks it's a good thing because it's actually taken away all the other chain's main use case because their whole marketing
pitches Bitcoin is all technology. It can't do this stuff. Yes, it just did.
So that's David's point. And so like, I don't disagree with David, but I'm as the engineer, like coming out, I was like, Okay, so what is it that we're not thinking about? What's the unintended consequence of this? And you know, in my opinion today and I get most of this because Pierro shirt I value his intellectual engineering opinions so much, and like he looked at me, He's like, what's the emergency. Nothing's breaking. This is great for miners
as of right now. It's great for expanding the channel capacity on layer two because now you saw all these exchanges buying its coin coin base, like all these exchanges that were like, yeah, cool story, but like, we're not doing layer two now. Literally within a week they're like all of a sudden doing Layer two stuff. And so you know, we have to have that stress in order to grow, that's right. So you've got to stress the system.
And then to your point, maybe we even have new layer twos that pop up that have new you know, new things or whatever. And you did an interview with Jason Laurie which I had reteated at one point. I thought it was an amazing interview.
And at the end of the interview, I think you'd asked him if you could say something to lawmakers, what would you say, And he said he said, I would tell them that just because it says bit, just because that's coin the name, doesn't mean it to be regulated by financial industry, no more than Amazon's cloud should be regulated by meteorologists. And while I don't know if I agree with his entire thesis, I love the different angles
that he comes from. And part of it is I think about and you have a Bitcoin the network, and you have Bitcoin the asset BTC, and so if you think about the network itself, so you have a global, permissionless, censorship resistant, immutable, decentralized network. And so then like what could you do with that network? Right? And so this Ordinals is showing us what you can do with the network.
So certainly all new technologies, if you go to the invention of electricity, the first killer application was a light bulb. That the first killer application was money, a digital asset. But what else could this network do? And so the Ordinals are showing us So like for decades people have risked their lives smuggling physical copies of Bibles into authoritarian regimes, and now the King James Bible is on the bitcoin blockchain, right, three D gun schematics or whatever it is, and like
that just starts to make it seem way bigger. And so while putting JPEGs on there seems stupid, you know, now your point is super profound.
It is, and and so that's why you know like you, I'm just like, hey, let's just wait, like just calm the calm down. Yeah right, Yeah, there's no emergency. The building's not on fire. In fact, like we're seeing benefits actually from the fees popping out for like literally incentivizing growth in these other areas that we need to have
infrastructure and growth happening. And I think it's a little bit uh, you have a lot of hubrists to think you understand how any of that block space is going to be used ten years from now or twenty years from now.
Like or to say who can use the block space? Amen? I mean so now you can't use electricity, mind, but you can usely Like now we're into that now.
Well, so let me push back. So with all of that said, there's an analogy I like to use here. Okay, So chess, okay, right, So when you look at the pawn's you got values on the pieces. The pawn's worth one, the bishop, the knight, it's worth three, the Rook's worth five, the Queen's worth nine, the king. The king's value is unlimited, right, because if you lose the king, the game is over. You lost, right. So when I apply this to bitcoin,
I'm saying, what's the king, right, what's the pawn? And why why would the king be unlimited value?
Right?
So so for me personally, for me personally, you know, I served in the military, I lived in a combat zone. I was basically the proof of work minor of the legacy system. Okay, serving right, Yeah, And I'm looking at what incentives that pop out of that legacy system, which is you're not actually incentivizing exchange in a way that can't be, that's not immutable that there's bad actors that can step in, whether it's this country or that country.
I'm not going in that direction. But what I'm saying is we have an opportunity to literally have a phase transition for humanity for the very first time in human history that incentivizees global cooperation. It's as profound as the ATP as an acting currency between all the organs in your body. That's what we're That is what bitcoin is
truly representing. And for me, that's the king. You can't sacrifice that ever, no matter what, Like it's that profound of an idea for an inscription, because now I don't have to go to the Triple A office and like get the rubber stamp from from Sally saying, yes, you you went to this office and you were here at twelve nineteen. And I don't even know what's on the document,
but you were here at twelve nineteen. Here's the stamp, right, Like to me, that's the pawn or like that's a bishop, right, and like we cannot as a community, we cannot give up the king on the board, which are in money.
What's giving up the king money? So you're saying if these inscriptions were to crowd out money, so if they became worth more than.
We lost the game.
So let me let me, let me, let me let me flip this a little bit, not flip, but let's dig into that a minute. So as things evolve over time, we expand our definitions of things. So for example, in the eighties still and you know, up to the eighties and into the nineties, even what would what do we consider information?
So figure about just what information was?
Well, I read the morning newspaper from three people, I have the three channels the night of the news, and I guess there are some books in the library, right, that's information. Today. You have a kid in Indonesia post a picture on Instagram, and I know what the waves are like and what the weather's like. I said, what type of trees are there? And so like information has expanded. When Karl Marx with the Communist Manifesto, he was mad. He don't want to be an attorney. He wanted to
be a philosopher. Nobody valued philosophy at the time, and so what he wrote is that the poor have no capital.
All they have is their labor.
Well, today you can get capital by writing philosophy. So like definition change. So back to money. We don't want to lose money. It's the most important thing. But what is money? Money communicates value, That's.
Right, it's the honest ledger, it's the community. So like Claude Shannon, right, it's all about information theory of exchanging information. So if I come and I do some work for you, and you want to pay me, like, nobody can corrupt that communication of like what happened.
What if I want to provide my labor to you, or I want to trade you this iPhone, or I want to give you this book, or I want to give you a three D guns comatic that could be money as a medium of exchange. I can exchange this item for that thing. And so if I'm putting three D guns commatics on the blockchain, is that my I mean, it communicates value and I don't know. This is like we'll see what happens. But I understand what you're saying.
Well, and I'm not even using that example. I'm not saying that that's what it is doing. I'm just saying we got to make sure on a long timescale, right,
Like here, I'll give you an example. So like let's say it's five years into the future and we have people that are crowded like the FIAT system, right, they can print as much of that stuff as they want, Yeah, which can act as an attack vector if if the right person already was and maybe it already was, but now they're just they're literally blowing out the mind pool and like the fees are blowing out, and like you're
in this. I mean, it's a perpetual money machine that has no limits, right, Like maybe there needs to be something that that needs to be discussed, but like I don't think people should even remotely entertain that until like years from now that it's demonstrating like hey, this is continually getting worse and it doesn't seem like there's and I don't think this is what's going to happen, right,
but if it did. But because I just have an appreciation for my total lack of actually understanding what something could look like that far out in the future, I'm just saying that we have to always remember that first and foremost, no matter what, it has to serve as money, right, And you can get into the intellectual debate on money what money is, and you know, we'll leave that for Robert.
Yeah, yeah, I hear what you're saying. And so you know, there's already things that prevent spamol and things like that, and so again, but to your point, I would agree at first, and I was a little bit guilty, and you know, we kind of have to think about these things. But at first I was like, oh, man, you know, why do they make these changes? And this is undertend
the consequence, and we should think about these things. And then you start getting too this kind of like knee jerk reaction, and that's the problem because you realize I could change it to stop this, but then what else am I doing? And so we just don't know.
And I think Michael, you know, he talks a lot about just like the first layer solidified, like just like, let's go to layer two to what I mean. And I think he's I think he's very right, you know, if I was gonna put my my chips down on like who's right, Like, I think he's right. Yeah, And I think that it's just gonna the free and open market.
If there's one thing bitcoins taught me is like, just give it some time, and the free and open market is going to figure out, like where what is value and if it if it's an like in value or if what the activity is isn't adding value to some end user, Like, it's just going to naturally sort that out. It might not be at the timeline that you like, but it's going to.
Sort it out.
It's going to figure out how to take care of it.
Yeah. I hadn't really planned on going down that rabbit hole. But it was a fun conversation. I told you before, I was really enjoying the kind of the I don't know, the thesis that you threw out in Wyoming when you talked about like the bond market and how yeah it's shifting, and then I heard you talk about it again somewhere else I forget or so many places.
I don't think people. I think most people they're so detached from and so like when they look at and just to.
Tee this up. We have this global financial system that's on the verge of teet around the brink of collapsing around the world, not just in the United States. Obviously, the bond marketing the States, which is the deepest globe, you know, deepest market bond market in the world, is teeter around. The banks are failing, but also globally we're in the same situation. And so bonds have been money or the main store of value. Yes, and so I
think that's kind of where you would build this. So we're witnessing, you know, this the first kind of sovereign debt crisis in over one hundred years, and so that's kind of where we pick up with this, right.
Yeah. So Michael was doing an interview I don't remember who it was with, but he's talking about bitcoin being this bedrock that you can build upon, right and just kind of like taking that example but applying it to the legacy system for the last four.
Years, this new harder asset, he calls it like a harder asset compared to the existing soft asset.
You can build on this bedrock because it doesn't deflect like the ground isn't deflecting, right, And so I just I guess I'm describing it to people who I don't think are familiar with the legacy system. Is the bedrock that we used to build on was really good. This treasury market. For forty years for people that were paid in US treasuries, the value just kept going up. So that's a place that you can actually store. If I earn one hundred dollars and I plug that into the
treasury market, yield keep going down. The value, especially if you were doing it with long duration bonds like that value is like aggressively getting better. So for everybody in the world, for the last forty years before COVID hit, they were very happy using the treasury market as their bedrock. And the reason why was because it wasn't just storing their value, it was making the value appreciate for them.
And what about the forty years previous. The forty years previous, interest rates were going up and that was not the dynamic, right, But the way that that was offset is through the
adjustment through the monetary baseline. That the race is how that was offset, and that's how that's why you in my opinion, and people will argue this, but that's why you got the inflation, you got into the you know, eighty one when it peaked out, right, So so I think that's important for bitcoiners to start with, is because the legacy system's evil and all these things, and it does create all these these warped incentives, especially when it's
not backed and people are not even they're not even faking that it's backed anymore, because you know, supposedly it was back from Bretton Woods to seventy one and everything there in between, but it was back, but they were adjusting the money multiplier, so it really it really wasn't it was constantly failing. It was just a really slow failure.
Right.
So but my point, my point being is when we when we look back prior to COVID, when everything I think everything's kind of deflecting now in that legacy system that used to demonstrate bedrock that actually got stronger, and so when you're building on something that's getting stronger and more solidified, like everybody just wants to build on top of that, right, But now you like I would argue that the would we get up to like eight percent
inflation on CPI nine point one? Yeah, it was even higher than that nine point one on the CPI gauge on this last mini cycle whatever you want to call it. Everyone's like, whoa what was that? Like they're in these legacy buildings that are all built on top of this this bedrock, and it deflected and like the pictures are moving are like what.
The what the hell was that?
Yeah, and like that was just the first shock because the next what's coming next? And we can all see it with the debt ceiling coming and the you know, since what was it October November, they've been draining the Treasury General account basically weakening the dollar and it's been just the total charade for you know, since we'll call
it November October. And now you got like I don't know, like fifty billion dollars left in the treasury Treasury General account and they're about to hit the ceiling and like you know, on the hill they can't agree on raising the ceiling like it's about to get it'll be spicy by the time this airs, most likely. Yeah, yeah, and so so how are they going to offset that. They're going to have to offset that with so much printing to the tune of trillions, if not tens of trillions
at dollars. And like we hit nine point one here in the States, there's still double digits over in Europe in some places in Europe, and you go outside of there, and then now you're talking fifty percent to one hundred percent annual inflation. Like, look at the pain you're seeing in this country with nine point one and now we're like five something, right, Like the pain you're seeing. Could you imagine going into a country like Argentina, right, what
is it? Thirty million people live in that it's it's ten percent of the US population, and they're dealing with one hundred percent annual inflation and they've already got a new old time high when they compare the bitcoin price to their local currencies. You think those people aren't seeing something right now? Right, And so like the deflection for us is it nearly as profound as the deflection for
most other places around the world. And they're seeing it, and they're saying, all right, so where's the new bedrock? Where are we going to build? Because where everything was constructed for the last forty years is coming on glued and the shocks are getting more profound, and they ain't seen nothing yet like the shocks. In the coming three years, they're going to really see some deflection like it was.
And on top of that, now we're entering into this sort of a decentralized world that I like to call it, where now the world is sort of breaking apart, this dollar homogeny, and not only is it deflecting to where like I don't know if I'm with put money there, but now I have to be worried about the US dollar being weaponized against me, sanctions and things.
They can't afford, Like in most countries they can't afford to touch it anymore because when their debts are denominated in dollars, they can't afford to touch it because they're just they're getting annihilated trying to pay that back, as you know. And so you saw a Stan and like he reversed his opinions Stan drugg and Miller on like the dollar. I saw something that he was very bearissed on the dollar, and then he changed his mind. But he might change his mind for two weeks. But I
think I think you're at this really critical point. I think the only reason you saw the dollar sell off there for the like the last five six months because they were doing they were doing funny business with a general account and now like they have to keep providing that to provide stability in this situation where you have more bank failures this year in twenty twenty three than you had in two thousand and eight, which I think the common person on the street and be like, what
are you talking about? Yeah, I think that's just getting warmed up. I think going into the third quarter, like second the third quarter this year, like, dude, it's going to get crazy. I think it's going to get crazy. That's your base case, that's my case.
Yeah, I think you can argue either way. I'm tending I see three ways out of it. So I think there's this muddle along, like like Argentina would have, Right, there's kind of mudd along. We kind of go through stagflation trade sideways. I think certainly there's plenty of reasons why we could have a massive crash. Yeah, or well, and when.
You say crash, like you really have to define what a.
Crash is in what Yeah, Well, I think one one in the economy, so right, I mean, we can see consumer spending or consumer debt going to the roof, consumer savings dropping life flies. However, if you look at the economic data, you know, the last quarterly reports were just
posted and revenue and profits are still doing pretty dang good. Yeah, And unlike two thousand and eight, in two thousand and eight, we saw a certain sector, well in two thousand and two thousand and eight, we saw a certain sector get smashed.
Right, So it's the tech sector in two thousand.
It was the real estate sector in two thousand and eight, and that put a massive hole in the economy, and of course the trickle down from that. We don't have a big hole in the economy right now.
Well, so, so where there's all the issues cropping up. The issues are cropping up with anybody who has a substantial amount of exposure to.
Treasuries, yeah right, which is not the retail, which is the banks, Which is the banks. So we're witnessing the Fiat currency crisis, which is now causing a banking crisis, which is in a sovereign crisis, but not in the retail consumer. And that's why I'm going back to this economy piece.
But it'll get there extremely fast if they don't act and red denominate all the impairment in this treasury market with more cash infusions.
Or or witnessing banks tightening and lending for example. So the SLUE reports show how fast they're tightening credit, which of course will then trickle to the economy because the businesses can't get credit. That's going to be a big problem. We know of the one hundreds of billions of dollars of corporate debt that has to be rolled over at new rates, and so that's going to be jacking to the roof. Obviously there's the massive bomb in the commercial
real estate mortgage backed security market. But the FED could just take those on their books and they could just roll over the bond market, which they've done. They can't.
They can't bit there at the point now mark where every everything that they've got to do is further manipulation of a free and open market of course, right, and as they continue to do that in this next amount of units that are added into into the system, like the last COVID right that those units that everybody thinks it was because of the virus, that that that's the sole reason why we got the spike, and you're not going to see something like that again. And I like
dramatically disagree with that. I think I think that was the first step and now the next cash infusion. In order to keep civil unrest at bay, they have to keep the units flowing down. This is the whole reason
CBDCs are cropping. It is because they have to be able to control it down at this level where it's like, oh, the price of breadge just getting too far out of hands, and now we've got cupe on so that you can only buy half as much as what you were doing, and like all these types of act these these weird like it's all about ordering control as we're going further and further down the path, and the lie of like what inflation actually is is only going to continue to crop up.
And I don't disagree, and I don't think any almost anybody would disagree, And I don't think so there's two certainties in life, death and taxes, and now there's a third money printing. I mean, is it has to be. It's the only way.
And their intent is order. Yeah, Like, and I think most people when society are saying, well, I do want order. I don't want chaos. I don't want I don't want calamity. Yeah right, and so I and so trust me. The last thing I want to do is go easy on central bankers or like some of these people that are that are making policy decisions. But at the same time, what they seek is order. They don't want chaos, they
don't want social unrest. And truly, the only way to do that in a fractional reserve system with an unpacked money FIAT supply that that has been that has been tampered with for forty years straight to prevent unrest is more were of the same with the policies until they literally make something pop.
So let's take it to another level. This is what we were talking about before we recording that you want to pause, and I think it's the perfect time to bring this back. So they don't want unrest, they won't order whose day? And this question is the key question.
The reason why I say this is because back to the conversation we're having before recording, if you look at the global board, if you look at the the world a game of Thrones as a strategic board game, and a lot of this I got from Tom Luwongo as I said, we trade a lot of messages. He's been on my channel. We've just had a two hour rip.
I think the first hour published the other day. So if you look at if you look at the world as a as a game of thrones, global you know a game, you have multiple players, and so there's certainly the bricks nations the Global South that are kind of trying to do their own thing, and then you have the globalist which is the euro Davos ECB group. He would and I would agree, and we can discuss why.
But factions within the US are probably aligned with So you have Obama Biden yelling for sure, on board with that. But then you have US nationalists, so probably the Federal Reserve, Jamie Diamond and some of the nationalist that to have another faction. And the reason why that's important understanding is as a bitcoiner, one of the biggest things that we always hear is they will never allow something like bitcoin to happen because they will never get up control over money.
Who won't give up control over money? So the FED doesn't want to give up control to the ECB, or to the BOJ or the PBIO like which one.
Well, so I would I would break down the world. And I love the different buckets that you put put out there. I would just trying to go first principles, right. So, the people who control the equity of the world, right, the behemoths of equity, like, they're the ones that can that can pretty much get what they.
Want, right, And so who are they?
Well, I mean it's it's the apples. It's like these really large equity And then look right down who the shareholders are. And when you look at this, and this is an important piece too, when you look who the shareholders are, so many of the shareholders are Blackrock or
these large institutions that have them in ETF buckets. And so even though like an individual might have that in their retirement account, are they actually able to control or influence in The answer obviously is no, but Blackrock shut can They might have a seat on the board of
whatever large piece of equity it is. And so when you when you go up and you think about the structure of who owns all the buying power and you see how much power is put into some of these banks, you can see why they are aggressively trying to control.
So then I'll ask you a question out of those players I framed up who is Blackrock aligned with?
I think Blackrocks aligned with word for sure.
They're doing all the funding to rebuild the train, which is part of the West.
Which all makes sense. Doesn't mean it's right, but from like an incentive standpoint, you can see why that all makes sense.
So to your point, yes, there's part of that euro Davos globalist group is black Rock, They're part of that.
So the line gets blurred as to like who's actually pulling the strings.
And yeah, so that's why we're just like you're looking at a ligned inches because what happens in a game of thrones is like, hey, me and you, let's fight these guys for now, and when they're gone, now you and I are going to figure it out.
But there's one other thing I want to cover on this. On like a first principal standpoint is where this is going is the people that control the equity of natural resources and truly desirable necessities in society, goods and services. There's a transition that's happening like in real time that I would argue that people that just controlled the equity, like the largest cap type equity before held all the power.
But where it's transitioning is people that control large amounts of equity for very desirable products and services, equity of those types of things. So you're oil companies like all that, right, they're the ones that are that are that are really going to be able to call the shots here during the transition to this new monetary system right in the coming tenures.
Which kind of goes into a little bit of like zolto impose aristhesis of this kind of like you know third third Revolution, right Brett third bretton woods where they're going into commodities, and we're seeing that so like General Motors, for example, spend six hundred fty million dollars on a lithium mine. They'd rather have the lithium in the ground than the dollars. But we're also seen on a global stage, so I think that's maybe kind of what you're talking about.
But so if we if we look if we look at it like that, then we would go, well, some of these globalists, including the WEF, we could go to their website at this very second, it's still up, they haven't taken down and says by twenty thirty, the US will no longer be the dominant superpower. Okay, so there's in it's George Soros has been openly staying for two decades that they want to bring down the United States. So you have some of these things that are public.
You know, it's not conspiratory. It's on their website. We'd go find it. And when we play this interview, let's those up on the screen.
What's and what's so amazing is they have no idea who's going to be in power in the United States that let's just say we have, you know, a presidential candidate that comes in. They're like pro bitcoin and they're like they're there's putting it on the treasury in a secret kind of way, and they're printing a bunch of dollars in their stack in SATs and whatever.
Because what Rothchild said dred years ago, give me control over the money, and I care not who makes the nationals.
So for them to even think they have a clue as to who's going to figure this out, because it's an education thing, right, It's an education thing. And that's why I guess I'm so passionate about even being in this space. It's like, if you can just get the knowledge and the understanding and the curiosity in the head of the right person who has the influence to affect
change in any country. Right, it doesn't matter what the country is, Oh boy, watch out, yeah, because that country And I would argue, there's there's a real small one in the world right now that has that happen, right, and I think they're going to have a tremendous this amount of influence years from now because of that leadership.
And so to your point on that, so then you have if we don't need to dig into that, but if you have these couple of people, the ECB, the FED, the BOJ whatever you want to pboc, the people that have control and they can fight it out, But then you have a whole group of people who have no control, and so for them, they have nothing to lose. They're
stuck dealing with dollars or whatever currency that's dying. And then you have to go to jump to dollars, so they have nothing to lose, they can jump to that. It's easy to see why the ECB or the FED doesn't want to go to that because they'd rather keep the system going that they have. And so that's where the game theory comes into play well.
And I would say in the Global South, one of the things I'm most excited about, Like, one of the challenges you have is to progress, you have to you have to start first principles. You need energy, Like you need energy in each one of these if you were thinking of it, like cells, right, the cells in your body, every single cell in your body has mitochondria, which is an energy power plant, has its own DNA. It is different than your human DNA, right, it's its own organism.
When I think about bitcoin, it's basically a micro chondria power plant that goes into these cellular regions and now it immediately has somebody that's willing to buy the energy. So in that cellular region, if it's energy rich, right, and somebody can go in there that actually sees the vision and can set up a power plant with mining there to soak up all that energy that cheap like
ever flowing energy. Right Now, all of a sudden, you've created this mitochondria in that cell that all these sorts of complex activities can start manifesting themselves around that energy source. And so when I think about the Global South, one of the things I'm most excited about is it's not that they're just going to get like sound money and
access to all the unbanked. It's that they're going to have an incentive for people to step into areas that are rich in energy, and they're going to be able to set up these mining power plant combos, and then it's going to turn into this flourishing of activity that surrounds it that's competing.
For like Saudi Arabia did an oasis in the middle of the desert, that's right, and they had oil, which oil could be packaged up and transported out. You can't do this with a lot of this energy in these other countries, but they don't have to anymore. So now they can just put a container there, start a link it up, and tap right into it. So then you're bullish on that. I'm bullish on that. That read that kind of changes the world. And so then I guess
kind of drawing back to the original conversation. So while the let's call it the G seven or maybe even the G twenty, while they want to duke it out over who's gonna win the Ultimate Game of Thrones, over here you have sort of these players that are already out of the game, that are going to go ahead and just keep building tapping into this, and so while they want to fight it out, we'll have this kind of rising up exactly exactly.
Now, that doesn't mean that that in developed nation states that you're not going to have growth. And because it all comes down the weather, you have key influential leaders that understand this, and if they do, they're going to crush it. But but I would say, uh, they're gonna have They're going to be blinded by their legacy bias and it's going to be extremely different, difficult to overcome. And when you look at the how most of this type,
you know, the developed nations, how that world revolves. It revolves around very wealthy legacy people funding their incentives. And that's it's it's.
Gonna be because it works incentives specifically on the greed incentive. Yes, and so as corrupt as some of these people might be, if it can feed that greed, I mean there's a there's a good, good chance to do that. And and then there's a lot of other ways. I met with a guy here kind of under NDA, so I don't want to kind of expose what he's doing. He's over in Europe where they have energy problems, of course, and
he's figured out a way. We'll just say to take devices in your house that use a lot of electricity and in bed mining into that. Yeah, I don't know if you talk to them here. Yeah, And and basically he's his plan is selling it is to never even mention bitcoin or mention bitcoin mining. And hey, here's this electrical device. It costs as much as the next elector device, but I'm going to rebate you twenty percent of whatever your bill is. And he doesn't tell him what it is.
And like, that's a genius way to think about it. Get into that greed. I don't know. And he said, at some point I might say, hey, okay, there's bitcoin in here, and here's a wallet for you. But he's like, right now, I didn't want to talk.
About that, and he doesn't need to. Yeah, if people are getting a discount by twenty percent, yeah, right.
And so back to these other countries, if it's like, hey, there's a way that you can set up this power plant. It can make you money and you don't have to say bitcoin at first, you know.
It was probably one of the reasons I'm so bullish on it is because every little nook and cran a. You look, there's something that's like this reinforcing engine to bitcoin, like the example you just shared, right, Yeah, where like people that are creative enough to think through, like I don't even need to tell somebody that there's bitcoin happening over there. They're just getting twenty percent off their energy built and I'm paying them the twenty or there. It's
all in terms that they understand, which is fee out money. Right. The thing is over there doing that work, and he's making out and they're making out, and there's this win win like incentive that just keeps popping up everywhere you look, in every single facet of this thing, and it's like, you know, it's a trojan hydra. It's a trojan like you cut off one head to grow back, and the thing is just and it's been like that since I've been in the space, and it just doesn't it seems
to be relentless. It seems to be relentless. And I know I'm biased and I'm a bitcointer, but like.
But we have fteen years of history to show that. Yeah, and that's a long time. Yeah, and I think and again, I mean, just to reiter it, no, matter how much they try to clamp down on it in one location, there's other people that are going to want it, so no doubt.
And that's the game theory that people that show up with not a lot of experience or time like it's like, oh, the government's going to ban that, and that's like the end of their thesis and they're not going to dig in because the thing has seventy percent volatility and only these crazy crypto people are running around and.
They look like that's a very US centric viewpoint. Yeah, because you forget that the rest of the privileged viewpoint. Yeah exactly.
But people willing to do the work and dig in real deep, like real deep, they're going to see it and there it's going to be very difficult to unsee it.
Yah.
Yeah.
Yeah, well I think we can wrap it up there. That's a good love it, little good little rip love it. Appreciate it.
Thank you so much for having me Mark. I love talking with you. Yeah, yeah, I love talking with you.