The Mark Moss Show Dec 20, 2021

It's that big, and it's you know, to understand bitcoin, to understand this decentralized revolution, you have to understand lots of different things. There's probably at least six or eight different disciplines that you have to understand, which is why most people have a hard time understanding what it is. And you know, I've been asked many times. I've been teaching about bitcoin for six seven years now at this point,

pretty much talk about it all the time. I'm pretty good at taking complex subjects and making them easy to understand, which is what I'm doing with you each and every week. And sometimes some of my friends will sit me down and they're like, hey, Mark, um, could you just explain bitcoin to me? Like I'm five years old and in two minutes and I'm just like, no, I can't. Uh, because a five year old can't get it in two minutes.

Nobody can get in two minutes. And that's one of the big problems that we have in culture today is that we're all trying to find these life hacks, which is fine, we should all be finding life acts and a life hack is listening to me each week. But if you're only going to put in five minutes or two minutes worth of work, you're never going to get this. And really you're just never gonna make it in life.

And it's a big problem that we have in the world where we see people they read the headlines and they don't even bother to read the rest of the article. And usually those headlines are kind of this clickbait type of thing and it doesn't even really represent what that article is about. But yet people think they have the information. And so with bitcoin, a lot of times people are like, oh, I get it, I get it. I get It's like this digital cash. It's like it's like this digital gold.

I get it. Right, No, you don't get it. You can't get it in two minutes, especially if you're five years old. And so we'll talk about this each and every week, and all these different ways that affect your life. And really we'll talk about the intersection of or the importance of why, why is this even important? Why do I even care about this? Why will this be so powerful? Will change the world? And so you have to understand

a lot of different subjects. And luckily for you, me, your host, I've sort of been this jack of all trades, master of none most of my life. So I'm sort of like uniquely situated to talk to you about these subjects because I like to dabble in all these different different areas. I'm talking about history, monetary history, which you hear me talk about a lot. I'd like to talk about economics. I'd like to talk about finance. I like to talk about technology. I'd like to talk about psychology.

I would talk about game theory, I like to talk about philosophy, and all of these subjects intersect at bitcoin, and so really I like to talk focus on really the intersection of finance, technology, and money. It's a pretty powerful combination of those three and they all intersect directly at bitcoin. And so a lot of times, like I said, a lot of people, especially in the United States, when I've traveled in other countries they get this a little bit better, but in the United States they go, why

why do we even need bitcoin? What problem does it even solve? And you'll hear people talking about the energy problem, like bitcoin waste energy? Well, how does it waste energy? I'd like to hear your argument that what what do you mean it waste energy? Because the way that I understand it is that one man's trash is another man's treasure. So how is it a waste? If I decided to put my attention, my energy, my effort into it, how who are you to call what I do a waste?

But typically what I would say is that that argument comes from a standpoint that it's a waste of time. There's no purpose of it, there's no need for it, so why would we devote any energy towards that? I mean, the same could be said about video games. Our energy or our video games a waste of energy? Are YouTube videos a waste of energy? Is you listening to me talking to on my podcast right now? A waste of energy? Hopefully you don't answer yes to that question, um, but

you know what is this waste? And so typically I would just say it's like people go well, there's there's no point to bitcoin, there's no need for it. Um, it's just a stupid speculation or whatever. So why should we devote any energy to that? And first off, like I said, who are you to say what I devote my energy to. If I decided to devote my energy to meditation and staring into space, then that's what I

wanted to dedicate my time. If I want to dedicate my time to play in video games, and so be it Like, who are you or who is anybody to dictate what anybody else thinks is a good or bad use of their time or energy. But really, ultimately, like I said, it comes down to the fact that they don't understand why why is this important? So what I would say is that bitcoin is the most important thing. As a matter of fact, it not only deserves all the energy that we put into it, it needs even

way more. That's what I would say. I would say, no, no, we're not spending enough energy on bitcoin. But again, it comes down to why, Why do I believe that's important? Why do I believe it can change the world. That's what I want to share with you. By the way, you're listening to the Mark Mos show. Of course we're talking about bitcoin. If you're just tuning in, we're talking about cryptocurrencies. We're talking about this decentralized revolution, and we're

talking about why. Now, there's a million reasons why. And I like to use an analogy. I would I'd like to use an analogy of imagine. Imagine in your mind this giant oak tree, and you have this old oak tree. It's really big, and I don't know, ten thousand leaves on this oak tree, and every one of those leaves on that tree is a problem. So we have the obesity rate, or or the divorce rate, or the incarceration rate, or the divide but rich and poor, or the breakdown

and supply chains, or you name it. Any problem that you could pull all basically comes down into the tree, into the trunk, and at the base of that tree, at the trunk, the root of that problem is the money. The money is the problem responsible for every other problem that we have in society. Now, I know, I get it, I get it, I get it. Don't shoot the messenger. That's a big claim, right, it's a really big claim. But it's a claim that I can back up. And it's a claim that I'm gonna back up each and

every show. So, by the way, well what we're talking about this, uh, I promise to make this the most important part of your week. So just grab your phone real quick, put a calendar reminder for this date this time, and make sure to join me on this station each and every week. But it's a big claim. I get it. Every problem obesity, divorce rate, like, incarceration rate, like, how are those related to the money. That doesn't make any sense? Mark right, I get it, But it does, and I'm

gonna prove it now. Um, I'm just gonna say topically, well, what's the number one cause of divorce? Money? Fighting over money? Typically, not having enough money is typically the problem. But why don't we have enough money? Well, then that goes into this income in equality thing. Why is it so hard to get ahead today? Why are there rich getting richer and the poorer staying poor? What is causing this divide

the money? And so really, if we can look back at a chart, it really we can trace it back to nineteen seventy one, at the time when the then current president Richard Nixon removed not only the United States, but really removed the entire world from the gold standard. So for all of pretty much recorded history, five thousand years,

gold had been money. For hundreds of years. Inside the United States, gold was money, and all the four Under the Breton Woods Agreement, the entire world agreed to be on a one world money monetary system that was a gold back system. The dollar will be back to gold, All the currencies of the world will be backed to the dollar or pinned, i should say, peg to the dollar.

And so we're on a gold back system. President Richard Nixon severed the ties of the gold standard and thereby took the entire world off of what had been money for five thousand years, and since that for the last fifty years. It was August of this year. August of this year was the fiftieth anniversary of that happening. And since that time, the entire world has gone haywire, and a lot of the problems that we see today are

a direct cause of this. Now, there's a massive, massive, massive problem going on all across the world today and it's directly related to this. And you probably don't get this. You probably don't understand this now if you're in southern California, where I'm from, I mean you're anywhere near the beach, you've probably seen. And if you're not there, you've probably heard. There's hundreds are about a hundred ships sitting off the ports of Long Beach trying to come in, trying to

bring goods in. Why why is that happening? Well, would you believe me if I told you it is because of the money and bitcoin can fix that. Well, I'm gonna tell you exactly what's happening. I'm gonna tell you exactly why the money is responsible. I would tell you exactly how bitcoin fixes this when we come back. All right, Now, you're listening to the Mark Moa Show. We're talking about bitcoin, we're talking about cryptocurrencies. Of course, we're talking about the

bigger decentralized revolution that's happening. I'm gonna be right back on to tell you how the shipping problem can be fixed by bitcoin. Don't go away, all right, Welcome back. You're listening to the markma Show. We're talking about bitcoin, we're talking about cryptocurrencies, we're talking about the decentralized revolution,

and boy, oh boy, where do I start. It's such a big topic and that's why you gotta tune in with me each and every week before the break, I was explaining how, um, if the world was like this giant oak tree, and every leave on that oak tree was a problem, and you trace each one of those leaves back to the tree, and the tree all but down the route at the roots sits the money. The money printer. The problem is the money, and the money

is causing every problem that we have today. And I was explaining how one of the big problems that we have today, there's there's many, but we'll just tackle one today, and one of them is supply chains are breaking down. I talked about how off the coast of Long Beach, off the coast of southern California, there's about plus or minus about a hundred ships sitting off the coast, and they can't figure out how to get him in there

and get them unloaded. Right now, that's a big problem, supply chains breaking down when those ships don't come in, parts don't get delivered, items don't get made, vendors don't get their parts, you don't get to buy the consumer goods that you want. The entire economy breaks down over that. But that's the problem with the money, Mark, Is that what you're telling me, Mark that's exactly what I'm telling you.

And not only I telling you that it's the problem with the money, I'm also telling you that bitcoin can fix that. It's a big claim. So let me let me explain what I'm talking about here. Now. First off, I'm sure you've heard by now the supply chains are

breaking down everywhere, Right's chains are breaking down. Or you've probably gone to buy goods and you've noticed that you can't get some of the things that you want are they're way more expensive, Like use cars are up thirty because new cars can't be sold as much because we don't have chips that go in them, right, supply chain issues. Now, the supply chain is a it's a complex dynamic system on a minsive scale. I mean it's it's a global scale. It's uh, it's probably as complex as the as a

climate chain system. And it's that big. And a lot of people maybe kind of think they have an idea of how the supply chains work, but probably a few people have actually taken the time to think about it, to think about how big, how complex it really is. All right, so let me just take you through it, just a very very simple thought exercise, but think about think about just going to the store like you normally do,

and there's all these products on the store. How do those products get on the store shelves at the very time that you need it, at the same time at the place, right, So think about going to go store. You want to buy a little bread. Well, the bread didn't just magically get there, right, It was delivered by somebody. It was probably a local bakery maybe, And so it was delivered by a local bakery. There was a shelf

at the store that put it on the shelf. Um, you carried it home, right, So somebody brought it there, somebody put on the shelf, you carried it home, You served it for dinner. That's the supply chain, right, the bakery, the store, you, and then the food. That's the supply chain. But that's that's that doesn't even scratch the surface. And I can't even really scratch the surface. So think about it, like, what about the truck that the driver used when they

delivered the bread. Where did the bakery get the flour from? Where did the yeast and the water needed to make the bread? Where did that come from? What about the ovens that were used to bake the bread? What about the probably hundred thousand parts that went into the oven? Where did they come from? When the bread was baked out of that oven, um was it put into like a plastic bag or was it put into a paper bag? Where did those come from? Where did the parts for

the plastic come from? For them to even make the plastic bags? Right now, I've expanded a little bit, but even that is just barely even scratching the surface. Right. The flower used for baking comes from wheat, of course, right? Well, where was where did the weak come from? It was grown on a farm? Okay? Well, well on the farm. Did they use fertilizer? Where the fertilizer come from? Do they use heavy equipment? Do they use the tractor? Well, where that tractor come from? Where did all the parts

for the tractor come from? What about the farmer that hired labor? Where did those people come from? Do they use water? Where did that water come from? What about the first? Right? On and on and on? Right, we can just keep going and going and going. Right, Like I said, the oven they have, The oven itself has their own supply chain. Where did the steel come from? Where did the glass come from? Where did the semiconductors come from, where the electrical scirpts come from? And on

and on and on. Now, the ovens, you know, are either you know, handcrafted, made by hand, or their mass produced in a factory that then also uses probably assembly lines. And then what about those assembly lines? Where did those parts come from? The factory uses inputs like electricity, So where does the electricity come from? Do they use natural gas? Uh? Right? Where where does that come from? Where are the lines

that run the natural gas? Um the store that sells the breads on the receiving end, right, And they require electricity as well. They also need gas for for heating. They they also need labor. They need loading docks and delivery rooms and inventory rooms. So you get it. It's complex, right, But how does all that work? How does that entire

network work? How is it that the wheat is made and turned into flour and delivered to the baker and the baker knows the bags to use and get the bags and gets the bread to the shelf and the one loaf, And how does that entire system work? And that's just bread. Now think of that times every product in the world. For your tires on your car or your car itself, or the the phone, the iPhone that you may be listening to me on right now, think

about everything else, and then you fig factory. And there's three million people United States seven and have billion people in the world that all have changing once needs and desires constantly. So how is it that no matter how irrational you are as a human. So for example, I love vanilla ice cream. I always want vanilla ice cream all the time, but today I want chocolate ice cream.

I don't know why, I just do because I'm irrational, right, So how can we have three million people in the US or seven and a half billion people in the world, all irrational human beings that have constantly shifting once needs and desires, that have all different types of products that

we want. And how is it that we can go to a restaurant or a store or sportings good store and have the exact product that I need with all those supply chains, with all those vendors, hundreds or not hundreds thousands, hundreds of thousands of vendors and people that are required to get those parts together to make that tennis racket or that bicycle or that surfboard or whatever it is. How does that work, how are all those people coordinating? Um, if I'm selling bread in the store,

I don't know the farmer who's growing the wheat. I don't call him and say, hey, I'm gonna sell more bread next year, I need more wheat. No, all of that is coordinated by something called a signal. And what is the signal? The signal is the price. The price is the signal. So if the price of something goes up, for example, today, I want chocolate ice cream, well, then if everybody wants more chocolate ice cream, there's more demand for chocolate ice cream. Then guess what happens. The price

goes up and two things happen. One people buy buy less chocolate ice cream, there's less demand, and two ice cream manufacturers make more chocolate ice cream. And so that signal, that price signal, is what coordinates the economy, like hey, we need more chocolate ice cream over here, or we need more bicycles over here, and so it's that signal. But what happens when the signal gets distorted and nobody can understand the signal. So if the price is the signal,

the money is the communication. The money communicates the signal. The money communicates the price. When you pay for something with your money, you're paying the price. The price is the signal, and so money is not a lot of people really haven't taken the time to think about what money is. And if you haven't taken the time to think about what money is, then of course you don't understand why bitcoin is important because you don't get it. You haven't taken the time to think through this. But

this is a massive, massive problem. I want to explain to you the money and the signal piece, but I wanna tell you how it gets corrupted and how it leads to bigger problems than the supply chains, Bigger than that. I want to explain to you that when I come back, you're listening to the Markmas Show, we're talking about bitcoin. If you haven't guess, we're talking about bitcoin, We're talking about money, We're talking about bitcoin. We're talking about solving

the world problems. We're talking about the decentralized revolution, cryptocurrencies, etcetera. I'm talking about the price and why bitcoin is important, why it's worth the energy, why we should be spending even more energy on it. I have more in a second. 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, we are talking about the decentralized revolution.

And today, right now, we are talking about supply chains breaking down. Now, how does that apply to bitcoin. It's a good question, the one that you should know the answer to. It's the answer that you need to know because you need to know why do we even need something like bitcoin? Why is it even important? And it's because the money is broken. The fiat money system that we have is broken. The fiat money system being broken

causes all the problems that we have today. So we say, if we can fix the money, we can fix the world. And that is what bitcoin is doing. So I was given a story of supply chains and how they work. I was explaining just a very simple example of a supply chain of bread and probably hopefully expanded you're you're thinking about that and to understand how big of a

story that really is. It wasn't exaggerated, as a matter of fact, I made it seem very very simple, but I was explaining how, um, you know, all these parts or all these products take lots and lots of parts and and it requires this massive coordination all over the world. And when I say all over the world, I mean all over the world. So this isn't just the United

States problem. Think about the iPhone. If you have an iPhone, which I forget, I don't know people in the US have one or something like that half the people probably, I'm not sure. But think about the iPhone itself. Right, So the iPhone comes from China, but did you know the glass that's used on the iPhone actually comes from South Korea, and the semiconductors in the phone came from Taiwan, and the intellectual property design came from of course Apple

in California. The iPhone includes like flash storage that comes from Japan, includes gyroscopes that come from Germany, has audio amplifiers, battery chargers, um batteries, cameras, hundreds of other advanced parts. In total, Apple works with suppliers in forty three different country these on six different continents to source all the materials that go just into the iPhone. And that's such

a quick example. And what I was saying is how how do the people making the glass know how much glass to make, and the people to make the semiconductors and so all of that has to get coordinated is done by the price and the money. When I pay for a product, that money is is communicating that price signal, and it works pretty good when the money supply stays relatively relatively constant. So for five thousand years, gold was money, and the gold, you know, the gold supply of the

world increases. Gold miners are out there mining new gold, and it increases at a at a rate of about one and a half percent per year. And so the the increase in the in the monetary supply, the gold monetary supply increases at about the same rate as the population does, and so it's kind of expanding as the people are are are expanding as well. And so because that monetary supply is basically, you know, staying somewhat constant, that sig know, that price signal holds up pretty well

and people can communicate properly. But what happens if I were to get a whole bunch more money, say eight trillion dollars, like like the United States government and the FED dumped into the market. Let's say that I took another eight trillion dollars and I just dumped it right into the market. Now, all that new money that I dumped in the market starts to distort the signal. Now

the signal can't coordinate the people properly. Now, in the example I gave of the chocolate ice cream, if you with me before the break, I explained how when the price of chocolate ice cream goes up, two things happen. One people buy less chocolate ice cream, but two people make more of it. So there's a saying. We say that high prices are the cure for high prices. Now you know, unless you're living under a rock, you know

that inflation is running insanely rampant. As a matter of fact, I think it was last Friday the Fed's new number inflation. The CPI, the consumer Price index is at six, is the highest point in forty years, four decades. And that means the cost of everything has gone up. Use cars up, homes are up, uh, stakes up, lumbers up, whatever. Um. If you're in another country like Europe, you're seeing natural gascup a thousand percent. In the US, fertilizers gone up

a thousand percent. So prices are going up on everything like crazy. And like I said, typically high prices are the cure for high prices. And so when the price of things go up, people by less and other people make more. But when you dump eight trillion dollars into the market and prices go up, people don't care. They're gonna pay more anyway, they don't even care, they'll just

pay more. But also it makes it very hard for the suppliers to make more because of the prices have gotten so high, and the supply chains are breaking down, and so the entire market starts to get distorted. We're warned about this by um one of my favorite economists, the austri the father of the Austrian school of economics, Leudwood von mess and something that he calls the crack

up boom. I don't have an exactly word for word in front of me, but basically he warned us about a hundred years ago that anytime you have a credit and monetary expansion, which is what we've had, right. So since nineteen one, we severed the ties of the gold standard, and we've increased the monetary supply, we've printed more dollars, and we've had a credit expansion. So now there's about three hundred trillion dollars worth of debt that's been built up.

That's three d trillion dollars of debt that's been built up in the last fifty years. So we've had a debt expansion of monetary expansion. So whenever you have a debt monetary expansion, that leads to an economic boom. So we've had that, right, So the economy has been booming for the last few decades. Whenever you have those two things, he says, what comes next is distortions in the market,

worker shortages, misallocation, mismatch of products. And so now you're starting to see that this is where the supply chains are starting to break down. People are quitting their jobs to go trade cryptocurrencies or options on robin hood. People are quitting their jobs because they can stay home and make more on stimmy. The people that do stay working

work less, They work slower, they work less efficient. As I said when we first started out, there's about a hundred plus or minus ships sitting off the coast of southern California. They can't get their um their cargo unloaded. I think it's like an average of like three weeks. But why, we've always known how to unload hips. It's nothing new. This is nothing that we haven't done before. Why is this happening all of a sudden. Now, of course, you know President Biden wants to go figure this out.

He's gonna get to the bottom of it. But let me just make it real, make it real simple for you. It's the money, stupid. The money just told us a hundred years ago this would happen. If you have an expansion of the luntors by and a boom in the economy, it will lead to this exact same problem. So what comes next, per Messes, Well, the crack up boom. So he says, what comes next is that, he says, finally, the people will wake up when they realize that inflation

is both permanent and intentional. Permanent and intentional. So the FED has a target, the Federal Reserve, the Central Bank of America has a target of two percent inflation. It's intentional. This is not an accident. Their goal is to steal two percent of your purchasing power from you every single year. But of course, like I said, as of last Friday, it was actually six point percent, not two. The reality is it's closer to that. They're intentionally stealing from you.

So he said, when people wake up and realize it's intentional and constant. So it's intentional and that's their goal. It's not a temporary goal. This is their permanent goal. He says. When that happens, then people won't want to hold dollars anymore and they'll dump them as fast as they can, which is why people are buying anything and everything they can get their hands on now. Unintentionally they're doing this. They don't they don't probably understand this, but

they're doing it. So like, shoot, I should probably buy a house right now because I may not be able to afford that house later. I should buy by buy a car right now because I mean by it later. I should probably buy more toilet paper now because I may not be able to get that toilet paper later. What they're really saying, they don't understand this, but what they're really saying is I have to get rid of these dollars today because they're becoming worthless and I won't

be able to buy as much in the future. That's what That's what he's really saying. No, um, he wrote this over a hundred years ago, but it sounds pretty eerily of what we're seeing today, doesn't it. Remember, if you can fix the money to fix the world. But what did he say happens after that? Huh? I mean if he predicted this, what did he predict happens? And that's the part that I want to share with you next, because if you understand the past, you can understand the future.

And he warned us and it's all coming true. These are the problems that the money has. And this is why something like bitcoin is so important. This is why when people say at the waste of energy, they don't understand how important this is. That's why I say we should put even more money into it. The supply chains breaking down is a massive problem. The supply chains breaking down is the economy breaking down. The entire are economy

is the supply chain. Economy is goods and services. If the supply chains breakdown, I have no goods and services, I have no economy. That's how important this is. We can't go through booms and bus all the time. We need to fix this, and fixing the money will fix the world. I say we spend more energy. By the way, you're listening to the Mark Moa show, we're talking about bitcoin. If you didn't figure it out by now, we're talking

about bitcoin cryptocurrencies. This decentralized revolution. Today, I'm talking about why, why does this matter? And most importantly, what did Ludwood want of means to say? What comes next? Don't go away? All right, welcome back. You're listening to the Markma Show. We're talking about bitcoin, we're talking about cryptocurrencies. We're talking about this decentralized revolution. There's a million, a million and one angles and ways and things that we can talk about. Today.

We're talking about why, why do we even need this? Why do we even care? And I get it, you know, uh, coming from the United States, we have a you know, somewhat relatively money monetary supply whatever means. I mean, you know, our dollars lost its purchasing power in the last hundred year. So I don't know if that's stable, but it's definitely not anywhere near as bad as what we see in

Lebanon or Argentina or Turkey or something like that. And so um, you know a lot of people don't realize why we need to fix the money, but they don't understand what money is. And more importantly, they don't understand. When they don't understand what money is, they don't understand what uh, what's wrong? With having a bad form of money. And so I was explaining how the supply chains breaking down. Supply chains breaking down means the economy is breaking down.

When the economy breaks down, that means we have no wealth, because wealth is goods and services that come from the supply chain. And the reason why the supply chain is breaking down are not because we are buying too many products. Well, that's part of it, but the reason why supply chain

is breaking down are because of the money. And not just because of the money, but because the federal government, the Federal Reserve Central Bank of America, printed fake counterfeit money, eight trillion dollars worth and dumped it into the economy, and it distorted the money supplied, distorted the signal that coordinates the economy, and now the economy doesn't know how to act, It doesn't know how to work because the

signal has become distorted. It's sort of like, um, if you're listening to me over the radio right now, and you your car goes out of range, and I'm starting to get all staticky and you can't hear me real well, and now you don't know what I'm saying. You don't want to do and that's exactly what happens when you dump all that money into the system. And so we need to have a pure signal if we want to have if we want to have good action, I want the world to work properly, then we have to have

clean signal. We can't have a fake, distorted signal. We can't manipulate the signal. The signal has to be pure and that comes from the money. So before the break, I was talking about my one of my favorite economists, Ludwig vun Mesas he's from the Austrian school of economics, and there's really um the main school of economic thought is is really spawned from what would be considered Kenzie

and economic Actually we have heard of that before. It's John Maynard Keynes, and keyes is kind of the godfather of the system that we have today, which is basically he believes that, um, when the economy dips, the government should step in and should spend artificially inject artificially stimulate the economy with fake money to get it to start

growing again. It's kind of like, um, if your battery died on your car your motorcycle and you bump start it or you jump started and so he thinks that it's okay for the government to create this fake counterfeit money, uh, temporarily just to dump it into the system, just to

get it going again. So if you had, let's say that the economy dipped and you lost a dollar from the economy, he says that you should create fifty cents of fake counterfeit money of debt, spend that fifty cents to get that dollar worth of growth that you're missing. That was his plan. The problem is today that we're past what he calls the Kenzie and multiplier, which is when a when a country gets over debt to GDP,

they don't get enough growth from the debt. So instead of spending fifty cents of debt to get a dollar growth, now you're spending a dollar of debt to get fifty cents of growth. So what that means is you're just digging yourself deeper and deeper in the whole. Now that's when you get over. The United States is about a hundred and thirty percent today. That doesn't sound good, does it.

As a matter of fact, there's a report from Hirshman Capital that says that fifty one out of fifty two countries that have gone above a hundred and thirty percent debt to GDP have failed within fifteen years, and we're over that number. That's the problem. Now back to Ludwig Vam says he was talking about something called the crack up boom. He wrote that wrote about this about a hundred years ago, and I explained it. So he says, um.

He says, when you have a credit and monetary expansion that leads to an economic boom, which is what we've had. He says, then it leads to distortions in the market, labor shortages, things like that, which is exactly what we have. But it's what comes next. He says. Then then people realize that inflation um is both intentional and permanent, which it is, and they realized that UM. So what happens then?

He says, Then people will get rid of their dollars as fast as they can in the economical crash, and so we're at that stage. People are getting rid of those dollars as fast as they can, and we're seeing those dollars losing value, or I should say, those dollars are buying less and less and less goods. A hundred dollars from a from a year ago buys you about eighty dollars worth of goods today. It's theft. The government's

stealing from you. Do you like being stolen from? When I was I was like I forgot I think sevent eighteen years old. Um my car got broken into. They stole my stereo, they stole all my music out of it. And it was like the most like, it was the most violating thing I've ever felt. It was just like this. It was like it was like a personal attack on me. I was violated. I just felt so bad. It was like the worst feeling like. And if you've ever been

stolen from, then you then you understand that feeling. It's it's horrible. But that's what the government's doing. They're stealing from you. Every time they print another dollar, they're stealing the value of your dollars. So when they create one more dollar, all the existing dollars are worth less. They buy less. You don't have any control over it's theft. Now. The reason why they do that is because the government has too much debt and they can't increase taxes enough.

They can only increase taxes before the people are going to freak out and overthrow them, and so they can't really raise the taxes past where they're at right now. So their option is they can just keep printing more money. But the more dollars they print, the less your dollars are worth, So not only the dollars and your savings account, but also the dollars that you're earning as you work

your life away. Now, when one group of people like you and I are forced to trade our time for money, working for money, but another group of people have a money printer they print money for free, that leads to slavery every single time. They're literally stealing your life with their money printing. And I'm not okay with that, okay with that. And it's not just that they're not just stealing the purchasing power from my dollars, they're distorting the

entire market, the entire economy. The supply chains are breaking down, people are losing their jobs, people can't get the products they need on the stores. Like businesses have had a very tough time over the last year and alfter the pandemic being forced to shut down and all these things. Here we are Christmas is Christmas is coming up, and if they can have you know, a lot of these stores, maybe half of the revenue for the year comes from the Christmas season. But what if they can't get the

products on their shelves. Supply chains are broken down, the ship, the ship from China didn't get unloaded. Now those customers come in to buy those products for their friends and family, but they're not on the shelves, they can't buy them. See how big of a problem this creates. Now that that that store doesn't sell the product, well, the vendor trying to sell them to him doesn't have the good. So the vendor loses out on the on the money,

The store loses out on the money. Then the then the store that was hopefully and the vendor and store we're gonna make money. They were gonna spend that one. You know, they don't have that money to go spend. You see how big of a problem this is. And it's all because the money is broken. It's all because you're lovely government and their money printer or the central bank continues to print money that distorts these markets. So I know, I know, I know, I know they a

lot of you love it. They they're buying your vote. Hey, hey, hey, we're gonna we're gonna spend more money on infrastructure. We're gonna we're gonna, we're gonna build some new roads and some bridges for you, and we're gonna send everybody free education and free healthcare, and we're gonna pay you to stay home and not work and all those things. And that sounds great, and a lot of people are for that. I mean, shoot, I'll raise my hand and take free

money if you want to give it to me. But in the time of today, where everybody is thinking about the common good, think about how bad this is for the whole And that's why we need a new form of money like bitcoin. This is what bitcoin fixes, one of one of the millions of things the bitcoin fixes. If you fix the money, you fix the world. And that's why bitcoin is important. Hopefully that makes sense to you. Like I said, this is one of any million of

the rabbit holes that we can dive down. But I want to get back to where we started, which is why people say that bitcoin is a waste of energy. Well, video games could be a waste of energy. Watching YouTube videos could be a waste of energy. Listening to me might even be a waste of your energy. But if we can create a money system that can fix the world, that can fix the supply James, fix the economy, fix the signal from the money. I say that's worth even

more energy than more spending. I say, let's spend more energy to fix more of the world. And I say we do that as fast as we possibly can. Fix the money, fix the world. That's what bitcoin is doing. By the way, if you're just tuning in, you're listening to the Mark Moa show, we're talking about bitcoin. Of course, we're talking about cryptocurrencies. We're talking about the decentralized revolution that is happening right now, right before your eyes. It

will fix the world. It's your opportunity to get in before the greatest wealth transfer happens. That's it. Thanks for listening.