The Mark Moss Show Dec 01, 2021

on a regular basis without really thinking about why. And that's one question that I hear all the time. I've been making content and education around bitcoin for about I think about six years now, and in the United States, over and over and over, I hear why, why do we need it? What's the point? What good does it do? Um? You know all these types of things, And I get that if you're in the United States, you know, we have a pretty reliable form of money, don't we. I

say that rhetorically, don't we. Uh. The dollar doesn't move around as much as it might in Venezuela or Argentina or Lebanon for that matter. Right now, um or Turkey. Turkey is having a really, really big problem with their currency. However, even though the dollar seems to be well, it is a lot more stable than those other currencies, it's also losing value like a rock. Now not as bad as them,

but like a rock. And so one of the many reasons that we'll talk about if you join me each and every week, which, by the way, you should while you're listening, go ahead and pull out your phone instead of calendar reminder for this date and time in this channel, make sure you're tune in with me each and every week. As we talked about bitcoin and cryptocurrencies and the decentralized revolution, but today we're just talking about why why do we

even matter if we want to use a new something new? UM, we have to understand why we want the new versus the old. So UM, if you were going to switch to UM c d s, let's see these anymore. If you're gonna switch to streaming music instead of you buying c d s, what's the difference. Well, CDs you had to buy one for fifteen bucks and you only had those songs, and if it got scratched you couldn't listen to it anymore, and if you left it at home,

you didn't have it right, all these things. Now I can have unlimited music, and I can have every song I want, and it can be on my phone and I can stream anywhere I go. Right, So you have to understand what the new system is that's replacing the old system. And unfortunately, just most people don't really understand the old financial system. Well, I say old, it's still

the current. It's still the current today. But you know, one of the things that is happening, um rapidly is that, while as I said, the dollar is much more stable than other currencies like in Turkey, which is having a big problem, or Venezuela, Argentina, etcetera. Um, it's still falling and purchasing power pretty dang fast. What do I mean by that, Well, most of you listening right now have probably noticed that it costs twice as much to fill up your car today than it did a year ago.

You probably noticed that if you go to the grocery store, you end up with way less groceries than you did a year ago. Um. I think red meat is up, you know, chickens up. Everything is up, and it's gotten to the point where you know, the FED, the FEDO Reserve, the government, they tell us what the inflation number is. Now, what is inflation? Well, inflation is a lot of different things.

It's a nuanced argument or a nuance conversation, I should say, But typically it's um, it's most most likely are most typically represented as prices going up. So when the price of gasoline went up, that was price inflation, right, things like that. But what causes that to happen? Well, I believe it's always caused by money inflation. So when you inflate the money supply, when you create more money, um, it causes prices to go up. Now I'm gonna dig

into that in a little bit more detail. But something caught my eye this weekend, because of course this week was Thanksgiving. I want to talk about this. So the Federal Reserve, UM, the Federal Reserve, which of course runs the central bank for the United States and runs the currency. They put out a blog post that was pretty interesting and it says, um, turkey or to furkey question mark

a protein price comparison for the thanks Giving meal. So um. Basically, what they're saying is that I Thanksgiving dinner serving of poultry of turkey cost one dollar and forty two cents, but a soybean based dinner serving with the same amount of calories cost sixty six cents. Mm hmm. So what they're saying is, uh, price inflation got you down because we printed way too many dollars and we're out of control. Don't worry. Just don't eat turkey instead eat soybeans. That's

what they're literally saying to you. Um, that's what they think about you. Um, but no, how about no? How about no? I don't want soybeans. I want turkey, and so my dollar the reason why turkey is so much more expensive and I there's they're suggesting that if I don't like the price of turkey going up, that I should just buy soybeans instead. With the reason why is because they printed almost eight trillion dollars in the last year,

eight trillion dollars. And when they dump into not in the last year, over the last several years, and when they dump in that much money, it causes prices to go up. Now, let's look at if we were that's that's if we're using dollars. So you have to understand everything that you buy is really a trade, right, It's always a barter. So I'm going to trade this turkey four dollars. Right, I'm gonna trade this turkey for an hour of my labor. I'm gonna trade this turkey for

this old picture that I have or whatever. Like I'm trading it. I'm trading it for I'm trade you this turkey for you know, one share of Tesla stock or whatever it may be. Right, it's always a trade. And since dollars represent half of pretty much every trade, everything that we think about in America is denominant, and a lot of the world is denominated in US dollars. But because they're constantly manipulating the dollars, we lose sight of

really how much things are are costing us. So, for example, while the price of um turkey has gone up in US dollars, the price of turkey has actually come down in bitcoin. So if we're using bitcoin as a denomination as our store of value, it's actually come down. So if I go to a year ago, um, November, if we go back to November of last year, one bitcoin was about eighteen thousand dollars and today one bitcoin is you know, almost sixty thou dollars. So that's that means

that if I was using bitcoin as my denomination. I'm just doing quick math in my head, so forgive me. I'm not a math major. But basically, the turkey has actually come down in value. It's about a third of the price it used to be priced in bitcoin. It's double the price it used to be a year ago, priced in dollars, double in dollars, but it's a third of the price in bitcoin. M hmmm, that's interesting, isn't

it very interesting? What happens is again, if you're thinking about things in terms of dollars, you need to be thing thinking about things in terms of purchasing power. And so while the Fed wants to tell you, don't worry about it, uh, of course, in this, in this, in this blog post that they put here, they don't have any data as to or any reasons why turkey has gone up by um the double um. They don't they don't want, They don't want to tell you that's because

they printed way too much money. They do spend some time talking about how um. They do talk about how soybeans have more kellac um calorie values, how it has more protein than than turkey does. So they get into that um. They talk about the average global price of poultry has been six times higher than the price of soybeans. Um, but they don't want to tell you why why has the price of turkey gone up? Well, I want to tell you why the price of turkey has gone up.

And again, this is why the entire financial system is being undermined by cryptocurrencies, by bitcoin. This is this is to give you the big why so you can have this long, five, ten, twenty year time frame. I'm not trying to tell you where the price is going to be next week or what new hot coin to buy, so hopefully that's what That's not what you're looking for, trying to build the base so you can participate in

the largest wealth transfer you will ever see. So I'm gonna tell you more about that, But I also want to break down, Um, what the Fed is doing isn't just affecting turkeys, as a matter of fact, it's affecting everything else and it's putting us into a very very dangerous situation. That was actually um given to us as a warning about seventy years ago. Um yeah, and most people are not heating that warning. But I'm gonna tell you what it is, and I want to tell you unfortunately,

where things go from here when we get back. By the way, you're listening to the Mark Ma Show and we're talking about bitcoin, and we're talking about cryptocurrencies, and we're talking about this decentralized revolution that's going to change are in Hillary Clinton's words, undermine the entire financial system, but not a bad way, in a good way. You listen to the Mark Ma Show. I'll be right back.

All right, welcome back. You are listening to the Mark Ma Show where we're talking about bitcoin and cryptocurrencies and this decentralized revolution that's going on. And we were talking about before the break, Um, seeing as it's Thanksgiving week, we were talking about a blog post at the Federal Reserve put together and they were telling you basically that, Um, if I paraphrase here, they're basically saying, we know that prices are really really expensive because we printed way too

much money. So instead of having turkey this year, you might want to have to furky. Um. They didn't say in those exact words, but they did basically say that, Um. You they were basically comparing turkey to tofurkey, saying that, um, they both have kind of the same calories. Um. However, to furkey is about a third of the price and so um. Because the reason why they put that out is because of course it's gonna have it's gonna cost you so much more money. Um, about three times the

amount of money to have turkey this year. Um, you might want to consider having to furkey instead. I say no. I say no, I I ain't doing that. I'm not gonna eat the bugs. I'm not gonna eat the soy. I want meat and so UM. What I want to do then, is I want to find a different system that's not making my purchasing power drop. All right, this is why bit and this is why cryptocurrency, This is

why this revolution is happening. Right now, we have one group, one entity that controls the money supply, and they create more whenever they feel like it, and they give it to all their buddies and friends so they can push prices up on everybody else. Right now, there's a big subject. And I know a lot of you might not be caught up on this exactly, But let me just take you through a thought experiment real quickly before I dive into the rest of this. So if overnight, magically everybody

not just you, and that'd be great. A vision to you. But let's say everybody magically woke up with an extra billion dollars in their bank account. Not just do. If just you, that'd be great, But if everybody did, would you be more rich? And the answer is no, because money isn't wealth, right, We need goods and services. And what happens is, all of a sudden, we have more money going to chase the same amount of goods and services. And so what happens the prices go up, all right,

That's how that works. So when they print more money, the prices go up. The reason why the prices go up is because the value or the purchasing power of those dollars go down. The more they create, the less

they have value, the less they'll buy, all right. So that's why, as they've printed trillions of dollars in the last year and a half, turkey used to be fifty cents a pound and this year it's a dollar fifty pound, not because turkey went up in value, because it takes more of your dollars to buy the same turkey this year. So what the Fed is saying is, don't worry about buying turkey, just go by to fur key instead. Now, if you hold your wealth in dollars, that's what you

deal with. Unfortunately, your dollars by thirty percent less house today than they did a year ago. Your dollars by thirty percent less car than they did year ago. Your dollars by fifty percent less turkey than they did a year ago. You see what that see what I'm see what I'm talking about. And so that sounds pretty bad. So you're telling me, Mark that a group of people at the central bank have the power to create a bunch of money and steal my wealth. Is that what

you're saying, work, Yeah, that's exactly what I'm saying. That's exactly what I am saying. And and actually, let me give it to you from somebody else. There was an article written by the I m F. This is the International Monetary Fund. So the International Monetary Fund is kind of like a central bank. Above the central bank. So each country in the United States, we have the Federal Reserve.

In Europe they have the European Central Bank, and each country has their own central bank, and then above that you have like the I m F. For the International Monetary Fund. They wrote a paper in uh January one, two fifteen. I'm gonna give you this specific so you don't think I'm making this up. I have it in front of me, and the title of the paper is called the Liquidation of Government Debt. And I'm not going to read the old paper because it's very long and

it's kind of boring. But on the summary, I'm gonna read it for your word for word. Here on the summary, high public debt often produces the drama of default and restructuring. Like duh, if any of you had a lot of debt, there would be drama. There would be a potential you might have a default or have to restructure that debt, right, Okay, so that's what they said. But they said, but debt is also reduced through financial repression. Keyword financial repression. Think

about that. I'll explain that in a second um. Debt is also reduced through financial repression, a tax on bond holders and savers via negative or below market real rates. So what they're saying is when they have a lot of debts, so the government has a lot of debt, the debt can be reduced through financial repression. The financial oppression is basically stealing from you, and so they do it two ways. It says here back to reading directly

from them. It says capital controls and regulatory restrictions created a captive audience for government debt, so they use capital controls. They use things to lock you in like UM, India or China not allowing you to buy cryptocurrency, so they do capital controls and it limits its UH creates a captive audience for government debt, limiting tax based erosion. Financial repression is most successful in liquidating debt when accompanied by inflation.

So what they're saying is when they have a lot of debt, which of course the government does, they can do financial oppression. They can steal from you by a couple of things. One capital controls, which trap you in the system so you have no alternative, and then two through inflation that means by printing more money, creating more money, which which steals the value of the purchasing power of your dollars. They're stealing from me that way and through bonds.

So if you have a traditional financial advisor UM, they have most likely put you into something like a sixty forty portfolio or it's six stocks, bonds, pensions, institutions, things like that. That's they put all their money into bonds or their money into bonds, and they steal your money through bonds as well. So they're they're they're trapping you in the system, and then through inflation and through negative rates,

they are stealing your wealth. This is the paper I read directly from the i m F the Central Bank about the central bank. This is what they're doing and what they're and they're telling you, hey, hey, hey, hey, never mind that, just go eat to fur key. Literally, the World Economic Forum UH and the IMF are starting to circulate papers telling you that bugs are actually really nutritious. Did you know how nutritious bugs are? Did you know that bugs? Some bugs are actually high end protein? Did

you know that bugs could be crunchy and delay? Just mean they're literally telling you this. Why why? Because they understand they're stealing so much wealth from you that you're going to have no choice but to eat the tofur key or to eat the bugs in the future. But not me. I'm not gonna eat the bugs. I'm gonna eat steak. And the reason I'm gonna eat steak is because I won't stay trapped in their system. I won't be subject to their financial repression. I will put my

money into a system that doesn't steal from me. And that's what bitcoin is doing. That's why Hillary Clinton, that's why, um Christine Legarde, that's why Janet Yelling is telling you that it undermines the financial system. No no, no, no, no. What it does. It undermines their capital controls. It undermines their ability to keep you locked in this system so they can continue to steal from you. That's what it does. If it wasn't a better system, people wouldn't be switching

over to it. In a free market with free choice, they don't want a free market. They don't want free choice, so they want to take that choice away from you. In their own words, the captive audience for government debt. I know that's heavy. Now I'm gonna come back. I want to tell you where this is going. In rapid orders. You can protect yourself, so don't go away, all right, Welcome back. You are listening to the Mark Moa Show,

and we're talking about bitcoin. We're talking about cryptocurrencies, and we're talking about the decentralized revolution and specifically what we're talking about. If you're with me before the break, we are talking about why why why Bitcoin? Why should you even care. Why do you even care? Why should anybody care? Why do we need an alternative system at all? And so, well, there's a million reasons why. And I'll cover each one

of them each and every week. Uh. And one of those or multiple of these wise are going to hit you really hard and you're gonna grasp it. But for each person it probably means something different. So uh, there's a million Wise, I'm gonna cover each one one by one, So I guess that's a million weeks will be together. So pull out your phone, put a reminder for this channel this time, and make sure you're with me each

and every week. Um, if you really understand what's going on, if you really understand why, do you really understand why this is going to be so big, so massive, why this has the power to change your lives, then you have to understand this all right. I know in today's um instant gratification world, you're like, Mark, just shut up and tell me what dog coin to go by. Well, sorry, it's not what we're doing here. I'm not giving you

financial advice. What I'm giving you is I'm giving the reason why this is going to be the biggest opportunity you've ever seen in your life. And unfortunately, I know everybody wants to become a millionaire in a week. The reality is it doesn't happen quite that fast, but you can. You might just have to wait a few years. What happens is people get so hung up on the short term price. Oh man, the crypto market drop fift I should sell right now. It's going to crash right like

zoom out. Um. This is gonna take five or ten years, and you can become amazingly rich if you can stay in the market, if you don't get shaken out. And the only way that you don't get shaken out is to understand why. You have to understand why what is going on here now? UM, So we're talking about that. UM. There was a there was something that came out this week and UM one of the biggest financial magazines and the Economist, and the Economist ran a headline and it said,

I'm gonna read it to you directly. Here. It says, the sharp increase in inflation over the past year has blindsided many economists. Almost no one saw it coming. I'll pause for dramatic effect. There. They said, the sharp increason inflation has blindsided many economists. And no one saw it coming, really, because for the last several years, I've been videos on my YouTube channel telling people it's coming, warning people it's coming. I don't know who is possibly blindsided by this, um,

because we all saw it coming. When you print trillions of dollars. This is what happens, all right. I explained how that works before we went to the break, so I'm not gonna go through that again. But to give you a little bit of perspective, Um, it's the money, stupid, It's the money that costs this. Milton Friedman says that inflation is always in everywhere a monetary phenomenon. It's always

about the money. And so I know that inflation means different things to different people, and I know they try to make it super confusing so you don't understand it. Um and it and it can be different. So for example, music got cheaper, right, I used have to pay fifteen bucks for a CD. Now for nine nine cents I can buy it, or I can get it for free on my streaming service. Right, Um so music got cheaper. A few things got cheaper. My seventy inch TV got cheaper.

A few things did, but for the most part. Everything else got got more expensive, and so inflation is different to each of us depending on what we're buying. Um, if you wanted to buy a home on Lake Travis on Austin, UM, those prices went up a hundred and twenty last year. But if you want to buy a home in Kansas City in the suburbs, prices went up about fifteen percent. So inflation is different to different people.

If you live in your parents basement and you watch Netflix and each Cheetahs every day, inflation probably doesn't bother you. If you're trying to buy a house or send your kids to college, then inflation is probably a really big deal for you. So it kind of depends. It's different, but really it's always about the money. And so to give you an idea, the Federal Reserve they published a

chart called the M one. The M one is the money supply, and the money supply the M one chart increased in in In March of it was at four point two trillion dollars four point two and today it's at nineteen point eight, So it basically went from four to twenty. That's a real big increase in the money supply. And so what do you think happens when they print that much money. Well, it creates all types of distortions

all over the place. So they say, well, no, the reason why we're having inflation is because of the supply chains. The supply chains are breaking down. Okay, good, Why are the supply chains breaking down? Right? You have to dig deeper and ask yourself as a question. So let me give you something. Um. This is um from Ludwig vun Mises. Mesas is the father of the Austrian school, the Austrian school of economics. So really, in an economics you have

two schools of thought. You have the Austrians and you have the Kinsians. Um. All colleges teach Kinsian economics. Um. The Austrians are right, I'll just tell you that, And which is why colleges don't teach it. They don't even mention it. You can get a master's degree in economics and never even heard about Austrians. And so when when the Economist magazine ran this article that inflation has blindsided many economists, no one saw it coming. Let me tell

you what the Austrians told us seventy years ago. So mysa said, Um, in the normal course of an economic boom. So we've had an economic boom for the last fifty years. The economy has been booming. We have new cars and new skyscrapers, and new buildings and airplanes and rights. The economy has been booming for fifty years in the normal course of an economic boom driven by the expansion of money and credit. All right. So the boom has been

driven by the expansion of money and credit. We got off the gold standard, and we've printed an unlimited amount of money. We've printed over three hundred trillion dollars worth of debt. All right, So we had an economic boom driven by the expansion of money and credit. It says when that happens, the structure of the economy becomes distorted in ways that eventually resorted result in shortages of various commodities and types of labor, which then lead to increasing

consumer price inflation. He wrote this over seven years ago. So when when the when the economy booms because of money expansion, which is what we had from four training to twenty two UM, it distorts the markets that eventually result in shortages of various commodities, the commodities of the raw materials. So when those have shortages, the supply chain starts backing up right, exactly what we're seeing, and shortages and types of labor. Okay, so we have problems with labor.

Biden says he's gonna go to the docks and make the docks work longer. They're gonna work twenty four hours a day that work. We have shortages of labor, airlines aren't running, etcetera um, which then lead to shortages or I'm sorry, which then leads to increasing consumer price inflation, which is exactly what we have. We don't have enough goods and services because supply chains and people aren't working.

But why do we have supply chain issues? The supply chains used to work fine, didn't they They've always worked fine. You never even thought about supply chains until now. So why are they breaking down all of a sudden? Why are we having labor problems all of a sudden. Well, it's because of all the expansion of money that distorts the markets, that's it. So when the economist says that they were blindsided in their own words, and no one saw it coming, well no, mysas saw it seventy years ago.

I've been talking about it for for years and years and years. Um, it's not hard to understand. Um, the problem is they don't want to see it. And so let's tie this back. Why do we need something like bitcoin? Why do we need cryptocurrencies? Right? The dollar is pretty good, isn't it. Well not if they continue to print unlimited amounts of money, all it's going to do is continue

to distort things. As a matter of fact, he goes on to continue to say, as this, as this crisis point approaches, the central bank has a choice either to accelerate the expansion of the money supply, which will only make things worse. Right, you have to keep they have to keep printing to keep it going, which makes it worse, or refrain from doing so at the risk of allowing asset prices to fall and disinflace in or a recession or depression to happen. So that's that's basically where we're at. Um,

they're stuck between a rock and a hard place. Now, we never would have got into this problem if they didn't have a money printer, if they couldn't print unlimited amounts of money, and bitcoin takes away their ability to do that. Now right now, I can't take that away, but I can opt out of the game. I've just moved all my money to bitcoin, and I don't play that game anymore. You're buying thing. You're buying turkey in dollars and it's triple in value as it was last year.

I'm buying in bitcoin and it's a third of the cost for me. I'm not playing in that game. I'm undermining their ability to play that game, and you can too. That is why bitcoin. All right, I'm gonna tell you where this goes from here, because it's probably scarier than what you might imagine. Again Mysas called it. I'll be right back. You're listening to the Mark Moss Show talking about bitcoin. Do not go away, all right, Welcome back.

You are listening to the Mark Moss Show, and we're talking about bitcoin, and we're talking about cryptocurrencies, and we're talking about the decentralized revolution. Now, each and every week, I am bringing you the most up to date information and education so you can participate in the biggest wealth transfer you will ever see in your life, the biggest opportunity you will ever have in your life. Now, if you don't understand what's happening, why it's happening, how it's

unfolding and what to watch for. You're gonna be like most people and get shaken out. We call that weekends. The price is going to take a fifteen percent dip, You're gonna panic, You're gonna sell. But if you understand why we need it, why it's important, why it's so much better than the old system, why it's getting bigger and bigger, then you're gonna have the strong hands to stay in and make life changing wealth. And I don't take I'm not saying that lightly. I'm being I'm being

serious with that. It's changed my life. Imagine if you could have bought bitcoin back in two thousand fifteen or two thousand twelve when it was a hundred bucks and it's sixty thousand to day with that have changed your life now, It would have if you would have managed to stay in it that whole time. The problem is most people got shaken out because they see one bad headline and they get out of the game. I want

to change that for you. I want to give you the information that you need so you can stay in it. So um, sometimes we're gonna talk about news headlines. Sometimes we'll talk about price action. Today we're going deep and I'm talking about why why the system that we have is so broken and why this other system is better. UM. I don't want to recap everything that I've said, but I was talking about how um turkey has gotten more expensive, the Feds telling you need um toe furkey instead. I

don't want to do that. UM, if you, if you keep your wealth stored in dollars to furkey, I'm sorry. Turkey is now triple the price that it was last year. UM, I store my wealth and bitcoin, so um turkey is a third of the price as it was last year for me. So it's cheaper for me, it's more expensive for you. Why because I opted out of their system. That's what bitcoin allows us to do. Now. The economist ran a headline it said nobody saw inflation coming. Nobody

could have seen it. And I explained how Mesas from the Austrian School predicted this seventy years ago. UM, I'm not gonna go through that again. But what he also did is predicted something else. He predicted something called the crack up boom. Maybe you've heard about that before. And basically he says, he said that you know when they print a bunch of money, which is what they did. It distorts the markets and all these things happened, which

it did. But what comes next is what he calls the crack up boom, and basically, let me read it for you. He says that finally the masses wake up. They become suddenly aware of the fact that inflation is a deliberate policy and will go on endlessly. I'll stop there. So the masses wake up, So people are starting to wake up. They become suddenly aware of the fact that inflation, inflation, so prices going up is not accidental. So what what the president what the media is trying to tell you.

It's it's transitory. It's gonna go away, right, No, No, they become aware of the fact that inflation is a deliberate policy, and we'll go on endlessly. I'm gonna tell you about that in a second. Let me finish reading this though. Um that is deliberate policy will go on innestly, and then a breakdown occurs. The crack up boom appears. Everybody is anxious to swap their money against real goods, no matter no matter whether you need them or not, no matter how much money you have to pay for them.

Within a very short time, the things we which we used as money are no longer used as medium of exchange. They become strap scrap paper. So let's break this down. So very suddenly the masses wake up. People are starting to realize that it's twice as much to fillip your gastan because it was last year. The FED is telling you that turkey is too expensive and you should buy um soybeans. Right, So people are waking up to that. But then they become suddenly so suddenly they become aware

of the the fact that inflation is a deliberate policy. So what does that mean? So they're telling you, no, no inflation, it's transit orry right, No, it's a deliberate policy. The FED has a goal to have two percent inflation. That's their goal. That's their target. Their target is to have two percent inflation. As a matter of fact, Um, that's their goal. That's their target. But they like to have even more than that. As a matter of fact, here's

a couple of news headlines. Uh, Janet yelling when she used to run the FED. She says, Yelling's only regret as the FED chair is low inflation. These are headlines. Um, really, he ran the FED. The only regret you had is that their inflation was too low. Here's another one, UM low inflation is one of the major challenges of our lifetime FEDS Powell says. Jerome Power runs the FED, so he says that one of the major challenges of our

lifetime is low inflation. UH. The New York FED President John Williams says low inflation is the problem of this era. UM fed's daily says, don't be fearful about too high inflation. Um Coral says, FED very committed to pushing inflation above two percent. I have about another or five or six of these I could read, but for time's sake, I'm not going to get the point. So when the masses wake up that this is it's deliberate policy and it's going to go on endlessly, which it is, a breakdown occurs,

which is where we're at. And we're already starting to see people are anxious to swap your money, right, So, oh shoot, I better buy a house now because they're going to be more expensive in the future. Oh shoot, I better buy a new car now because it would be more expensive. I better go buy some canned goods because I don't know if I can get them later in the future. Right, people are already anxiously swapping their money against real goods. It's already happening. All this that

was predicted is starting to happen. Now, when does the final breakdown occur? Well, we don't know exactly, but let me give you an idea. So, um, trust Trust is a very fragile thing. Right, You have a relationship with a coworker or business partner, or a wife, a husband,

a kid, whatever, friend, and you trust that person. But maybe there's a couple of things that are happening that are than you to start to lose trust a little bit gradually, but gradually you're starting to get more suspicious and you're losing trust, and you're losing trust, and you're losing trust. And then finally you see a piece of information that caused you to lose trust, it's over. So it's gradually then suddenly, And so that's kind of where

we're at right now. Like people are starting to see these prices of turkey going up so fast and gasoline going up so fast. We're losing trust, We're losing trust, We're losing trust. Right now, today we have six or seven countries with millions of people in the streets marching. Millions of people in the streets are protesting their lockdowns. We have France, Switzerland, Italy, Austria, Germany, Netherlands, Canada, Belgium, Australia,

Czech Republican New Zealand. Millions of people are in these streets. Now you won't see it on mainstream media, but if you go on Twitter, you'll see it. People, you know, boots on the ground, reporters are showing this. These are all people who have lost trust. They've lost trust. Now.

A poll is and UM a few weeks ago, November eighteen, a pretty big poll, A good a good poll UM eleven thousand people over seventy six countries said that fortent of people say they trust bitcoin more than local currencies. That's a pretty massive number. We have all these countries with millions of people in the streets marching, not trusting their governments. What happens if those people just went and

pull their money out of the bank about bitcoin? Well, I'll tell you, if less than one percent of the people went to the banks to pull their money out, it would create what's called the bank run. The banks don't have your money in the bank, they loan it out. It's called fraction members are banking. The banks would go insolvent, bankrupt overnight immediately if that happened. That is the point, that's the crack up boom. We're losing trust. We're losing trust.

We're losing trust. At the point when people say I'm gonna leave this this dollar system and go to a bitcoin system, the whole system collapses now of our already done it. That's why my turkey is a third of the price this year, but your turkey is three times the price this year. You We need to guard our wealth against this financial repression. The I m F talks about we need to guard our wealth from the government stealing it through inflation. We do that by holding another

asset like bitcoin. Now, some people say that gold is a good store of value hedge against inflation, and it and it has been for five thousand years. It was great. Michael Sailor from Michael Strategy says that fighting the war for sound money, or fighting the war against inflation with a portfolio fifty gold and fifty percent bitcoin is like equipping half your army with modern armor and aircraft and the other half with ancient swords and spears because I

read in a book we used to fight that way. Huh. So I would just say that what you store your wealth in matters. If you store it in dollars, your turkey is getting more expensive. If you store it in bitcoin, your turkey is getting cheaper. And uh, choose your weapons accordingly. I guess what I would say, and that is why one of the millions of reasons why bitcoin is here to stay. You've been listening to The Mark mos Show. We're talking, of course, about bitcoin and cryptocurrencies and the

decentralized revolution. You can find me on social media at one Mark Moss at is the number one Mark Moss Send me a message on Twitter, Instagram. I'd love to hear from you and tell me you heard me on the show. Ask me a question, I will answer it all right, um, and make sure you're with me each and every week for the most uh, the most important part of your week. The Mark mass Show. Thanks for listening.