The Mark Moss Show - eCash and the Fight with the Fed

when is it gonna happen? Well, it's happening right now. It's kind of like watching paint dry. You can't really see that it's drying, but you know it's sitting there drying. Or maybe like watching water boil, maybe like that. I actually had to boil some water this morning. I do intermittent fasting every day. I don't eat breakfast. I usually go about eighteen hours about eating, but I drink coffee and I know, I know, I know. For a For

your hardcore people, you say, Mark, that breaks you fast. Well, Uh, technically you're right, but you're also technically wrong. I'm not gonna get into that anyway. My water machine was out of water and I had to actually boil some water. I haven't done that a long time, and I watching and watching, watching, I was in a hurry. I need the hot water, and I can start to see the

little bubbles starting to form on the bottom. And I knew once those little bubbles started to form on the bottom that they were gonna get bigger and bigger, bigger, and eventually those bubbles would start coming up and then would really be boiling. I didn't need to wait until those bubbles we're at full scale and bubbling up, because the water was already hot when I started to see the bubbles forming enough for me to pull off and

go ahead and make my coffee. Kind of a kind of an interesting segue into kind of the world that we know it where we're witnessing, we're watching the water boil. At what point is it hot enough to pull off? And uh, you know, you can wait until the bubbles are overflowing the pan um. Personally, for me, I don't need to I just wait until I see the little bubbles.

And we're certainly there right now. And so, uh, we're witnessing it, we're watching it, we're trying to understand it, we're trying to make we're trying to navigate it so we can build, grow, and protect our wealth as we go through this decentralized revolution that bitcoin is spearheading. Bitcoin is the decentralized revolution. And that's what we're looking at now. Um. As revolutionary as bitcoin is, of course, um, it's something that cannot be controlled. And you know, the powers that

be don't like that. Right. If you could have a money tree in your backyard and you could create as much money as you wanted, whenever you wanted, why would you want to give that up? I mean, you would have all the power in the world if you could make your own money. Right. Well, now you start to understand the central bank. They can make as much money as they want, which gives them all the power in the world. As a matter of fact, it was Mayor Rothchild,

one of the Rothchild I think was Mayor Rothchild. He said, UM, give me a control over a nation's money, and I care not who makes the nation's laws. Just take just take the money. Um. And it was Henry Kissinger said, control the food, you control the people, control the energy, you control a continent, control the money, you control the world. So it's no surprise is that the leaders, the powers

that be are attacking those three things. Have you heard Have you heard food crisis, food shortage, You've heard fertilizer, food prices going up? The attack on food? Interesting? What about the attack on energy? Have you heard about that? You know, oil going up and gas prices going up. You've you heard about the attack on energy? Food? Energy? Or what about money? Oh? Yeah, they're trying to control money too. And one of the ways of trying to control money is with their trying to roll out these

central bank digital currencies. Were talking about CBDCs, that's the acronym CBDC. And uh, you know what better way for them to control us than to control us through the money. Control the money, you control the world. So think about it, um, you know I can. I mean, our phones are spying machines right there listening to us every minute, UM, tracking us everywhere we go, and they can get a lot

of data from us. They can find out where we go and what our routines are, and who we're associating with, and there's a bunch of information they can find. But the money, the money is the most private. The money shows what we're really doing. Am I buying baby formula? Am I planning trips? Like all these different things and so it's the money. And imagine if they could issue a money a CBDC that was able to track US control US surveillors, but even more importantly that it could

modify our behavior modifier behavior thinks. Think China social credit score system, where in China you get a social credit score. Obviously, the United States we have a credit score, so if you don't pay your bills on time, you get to doing on your credit score, you get too much credit, et cetera. But in China it's a social credit score. So if you say mean things on the internet, for example, your credit score gets stocked and you now don't get to buy a train ticket or a bus ticket, on

airplane ticket. As a matter of fact, in two thousand eighteen, like four years ago, in two Thoeen, I believe, man, it's been a while since I did the data on this. I want to say it was like eighteen million people were prevented from buying a train ticket because their social creditic core was too low. And of course that's the money side, right, They couldn't buy they couldn't buy the

train ticket, they didn't have the money. Now I've made the case before without freedom of payments, you have no freedom. Let me say that again. Without freedom of payments, there is no freedom. So the United States guarantees me the right the freedom of speech. But if I can't pay for a computer, or pay for a phone to go on social media, or pay to print a flyer, or pay to build a website, do I have freedom of speech? I mean sure, I guess I could sit there on

the beach and yell into the wind I have. I have. The Constitution guarantees me the freedom to assemble, but if I can't pay to a gas in my truck, I can't go to that assembly, right, and on and on. Now they want to control that with the Central Bank digital currencies, and so they're working on that really really quickly, and that is a hot battleground right now. What's interesting

is they talk about, um, we need to preserve people's privacy. Yeah, right, Like that's their goal, preserving privacy, because everything the government does with money is to take away our privacy. As a matter of factor, you've probably heard anybody who has more than six dollars in transactions in their bank accounts. They want to do full surveillance on you heard that, right,

Does that sound like, does that sound like privacy? They want to shine a flashlight up your button, inspect every single transaction you do if you have more than six hundred bucks. That is not privacy. As a matter of fact, it goes against the Bank Secrecy Act that guarantees is privacy from that type of Uh. Well, and then we have a constitution UH guarantees us against unlawful search and seizure, which I would say that definitely qualifies the unlawful search.

They don't have a warrant for that, they have no probable cause. How about we were innocent until proven guilty. I thought that's the America that I grew up in about it. Now apparently you're guilty until provenance. But they talked about these central bank digital currencies and how how can they preserve privacy when they look at the transaction? Well, I think the nuance is they're talking about how could they prevent how could they keep help you protect your

privacy from other governments. We want to make sure other governments don't get the data. We want to make sure that um, other people don't get the data. Of course we want it right. So when they talk about protecting your privacy, it's uh, privacy from people that they don't want to have it. It's not privacy from them. So let's let's make that clear. But they do talk about

that all the time. And we saw this week US lawmakers introduced a e cash e cash bill and a new push to create a digital dollar, and it says that e cash would be a digital analog to the green back and could preserve privacy and anonymous transactions. According to an advisor on the bill, it says a group of US lawmakers says the US Trangy Department maybe the right government entity to create a digital dollar, not the Federal Reserve. So the center the central bank digital currency

is a central bank. The Federal Reserve is the center bank. And so what the lawmakers want to do is they want the Treasury Department to do this, not the Fed. Now it's interesting about this. They used the word in this article. It says, um, the cash would be a digital analog to the green back. Now what does that mean? Digital analog to the green back? You may not pick up on that nuance. So it's understand you have to you have to what you have to do. Let me

give you just a little lesson on critical thinking. Here, so critical thinking one who wrote the article? So if it came from the Washington Post, well that there are mouthpiece for the CIA. Okay, if it came from Urt, well they're from Russia, right, So who wrote it and what are they trying to say? Then you want to parse it for what's the data, and then what's the narrative? And then who's telling me? Right? So that's what we're doing.

So if we look at this, what's the data, Well says he cas should be digital analog to the green back. What does that mean? Well, when it says further on here that the lawmakers say that the U. S. Treasury should create the digital dollar, not the federal reserve. That's about attle a battle between the government and the bank central Bank, that go O reserve, and then the green back is the key piece. I'm gonna tell you what that means in a second when I come back, because

I want to dig into that. You have to understand the nuance of hear what's going on. You're listening to the markma Show talking about the decentralized Revolution, talking about bitcoin, talking about politics, finance and technology coming together to change the world as we know it. We're talking about the central bank digital currencies and this new e cash bill and the fight between the government and the Fed. And I'm gonna tell you what the significance of this green

back is in here. Maybe you already know. If you do, send me a message on Twitter at one Mark Moss. Otherwise don't go away. I'll be right back and explain to you. All right, welcome back here listening to the markma Show. We're talking about the decentralized revolution. We're talking about the intersection of politics, technology and finance. We're talking about how bitcoin is changing the world and how everybody else is changing and organizing and moving and shaking based

off of that. And specifically we're talking about this uh new bill. US lawmakers introduced an e cash bill in a new is to create a digital dollar. And what's interesting is, as I was saying before the break, the e cash would be a digital analog to the green back. And then I says, here a group of lawmakers says the Treasury Department. The Treasury is the government should be the right government and to create a digital digital dollar, not the Federal Reserve. So there's a fight. Now, Okay,

here's the significance. Many people would ask why does the government have to borrow money from the Federal Reserve. Why wouldn't the government just create their own money because the Federal Reserve has no money. It's not like in the old days before we had money. Um, a king would borrow money from the rich people, right, because they need to borrow gold for example. Um, but why would the government, the Unknited States government, the treasury borrow from the FED

when the Fed has no money. The FED just creates it from thin air. Well, if the Fed's going to create from thin air, what doesn't the government just created from thin air? Right? That was a good question, and as a matter of fact, it was a good question that President Abraham link And asked as President Abraham Lincoln going into the Civil War trying to uh, well, I'm not gonna get into a civil war, It's not what you think it is. But um, going too civil war?

He asked that the same very question, why should the government have to try to borrow money from these bankers? As a matter of fact, let's this the government creator oh money? And he did. And the money that Abraham Lincoln created to go fight the Civil War was called wait for it, wait for it, It was called the green back. Now, most of us think that greenback is just another slang word like bucks, right or something like that. Greenback is just another slang word. But that's not the truth.

A greenback was a very specific form of money that Abraham Lincoln created that the government, the U. S. Treasury Department created, not the Federal Reserve. So it was interesting here is this says the law. The lawmakers say the Treasury Department should be the right entity, not the FED. That's why it's saying the green back. Kind of interesting things. So we got Reps. Stephen Lynch, Democrat from Massachusetts, Hey sus Chewy Garcia, Democrat from Illinois. I Ana Press the

Democrat from Massachusetts, Rashida Talib, Democrat from Michigan. So all Democrats introduced the Electronic Currency and Secure Hardware Act Electronic Currency and Secure Hardware Act e CASH Act to direct the Treasury to develop an issue an electronic version of the US dollar with an with an eye to preserving privacy and a non amenity in transactions. Interesting it says the electronic dollars defining the bill would be a bearer instrument that people could hold on their phone or a card.

The system would be token based, not account based, meaning is someone were to lose their phone or card, they would lose the funds. In other words, it would be like losing a wallet with dollar bills in it. So what they're saying is a bear instrument. So a barre instrument means like a dollar. If I have a dollar, it's my dollars, nobody else's dollar. If I hand the dollar to you, you have the dollar now and as

nobody else's dollar. And so they want to make it this bare instrument where I have the token, I have the token, nobody else has the token. If I lose my phone, I lose the token, the money's gone. That's what they're saying there now. Um. They went on to say that the bill is meant to create a true digital analog to the US dollar. We're proposing to have a genuine cash like bearer instrument, a token based system that doesn't have either a centralized ledger or a distributed

ledger because it had no ledger whatsoever. The you secure hardware software and it's issued by the Treasury. He said, Now that's interesting. So it doesn't have either a centralized ledger or a distributed ledger. So so bitcoin. The revolution of bitcoin and cryptocurrencies in general is that instead of having one centralized database, a centralized ledger to their point, centralized ledger or database. Instead of having one, there's thousands

or hundreds, thousands or millions of databases copies. They're all copies of each other, and they have to achieve consensus, have to agree that that transaction is vowed. That's a destruct that they're calling a distributed or a decentralized ledger. That's what bitcoin is. And nobody controls bitcoin. Unlike other cryptocurrencies, people control the ledger, but with bitcoin, nobody controls it. And what they're saying here is that they're proposing that

it doesn't have either of those. It doesn't have a centralized ledger or distributed ledger because it had no ledger at all. It is interesting, if it has no ledger, how do they prevent it from being counterfeited? Y's that's that's what bitcoin solved. Now for those of you that don't know bitcoin, a lot of people say, well, bitcoin is like MySpace and then and and the Facebook is gonna come along later, right, But that's not true. So

bitcoin um wasn't just wasn't just Facebook that came along later. Facebook, it was like, it's like getter or like I don't know whatever parlor or whatever the new one is right now right locals um it's it was like, there's many variations UM that had come before bitcoin, but Bitcoin solved the problem that none of those could solve, which was the double spend problem. The double spend problem. So the problem with digital things is that we can copy and

duplicate digital things. If you give me a song, I can duplicate the song. If you give me a movie, I can duplicate the movie. If you give me a PDF or an e book, I can do up like at that. But UM, but bitcoin solved that, and it's solved it by having the distributed ledger that nobody controls, because if somebody controls it, then they could change the ledger. So they're proposing to try to come up with a way to do the same thing that bitcoin does, but

without a ledger. Pretty interesting, they say it. It would support peer to peer transactions, and given the nature of its set up, it would fully support anonymous transactions, which is pretty cool. Now. Anonymous UM as opposed to what's known as k y C Know Your Customer so whenever

you do transactions. As a matter of fact, in the United States, legally required by law, if you do transactions over ten thousand dollars, you're required to know your customer, which means after get your name and your address and your all these things. Very it's very intrusive. It's very difficult to follow that. And anyone who thinks that sounds right doesn't understand economics, because, um, to do business, I

must know my business. If I'm going to buy food from In and Out Burger, I hadn't out Burger last night. If you're in California, know what I'm saying. If you're not in California, then you're missing out. But I trust In and Out to deliver me a good quality product every time I go there. I know them. I trust them. They've built up their brand, but they don't have to know me. That's what money is for. I know them, I trust them, but when I give them my money,

they don't need to know me. Now, in the old days, um, you know, you had a little town, a little village, whatever, and the guy at the general store knew everybody and he would let me run a tab. Hey, I know Mark, I know where he lives. Yeah, he can run a tab kind of thing. But we don't need to know people anymore because we have money, so it gets rid of that need. But they're saying this is going to

bring that back, which is pretty interesting. UM. I don't know how it's gonna work, but um I think I think, uh, I think they got a long road ahead of them. It's pretty interesting to see that. UM. I highly doubt that they're going to be able to figure this out, especially and keep this uh private anonymous type of transaction they're talking about it. But anyway, with the bill and some of them, these aren't these aren't just new people. I mean, these are these are some like Rashida Talib.

I mean these are these are people that have some power and the paulic and it's not just one and they have one, two before five, like five six names on here. So maybe maybe it's gonna go somewhere. Um but again it's a battle. They're saying the government, the Treasury should be able to do this, not the Federal Reserve, but the Federal Reserve is not to be outdone. Of course, they're trying to roll out their central bank digital currency as fast as they can because they want to keep

control over the money. Why would they ever give that control up? Of course they wouldn't, Um, And so there's a battle brewing there. Um. However, there's also some Congressmen that don't want the Federal Reserve to have control of the central bank digital currency. As a matter of fact, Um, a very outspoken member of Congress, Um introduced a bill to prevent the FED from actually getting essential bank digcurrecy. I'm gonna talk about that, uh and a little bit

more when I come back. You're listening to the Markmas Show. We're talking about the intersection of politics, finance, and technology. We're talking about the decentralized revolution. We're talking about bitcoin. We're talking about how the world is changing because of this new technology that's impacting every area of our life, and we're seeing it with a battle between the Treasury and the FED and some of these congressmen and what

they're trying to do. I'm gonna come back and tell you what this congressman is trying to do to stop the Fed from having a central bank digital currency. It's pretty interesting. We'll see how much how much success is gonna have. Don't go away, I'm gonna be right back. All right, welcome back. You are listening to the markma Show. We're talking about the intersection of politics, technology, and finance. We're talking about the decentralized revolution that's being led by

bitcoin and cryptocurrencies I guess, but really just bitcoin. But anyway, um, you know, it's technology is changing the world as we know it, and it's changing the face of money as we know it. And of course money makes the world go around. I'm sure you've heard that before. Really, it's one half of every transaction that we make is money, and so it is, uh, the most important thing for the economy. I'm not gonna say it's the most important

thing in life. More things more important than money. But without money, it ain't a very good life with all that. But there's a battle raging and we were talking about before the break. I was talking about how there's a new bill from five different Congressmen trying to submit a bill saying that the Fed shouldn't have the power to the digital dollars. In fact, it should be the Treasury, and they want to come up with some new digital dollar.

It's sort of some like a cryptocurrency, except for there's no centralized or even decentralized Ledger. Pretty interesting. I'm not gonna go back through that. But now the FED of course is trying to get their central bank digital currency through and they want to get through as fast as they can. China's of course already rolled, There's out, Many other smaller nations have already rolled. There's out as well.

Um And Ted Cruz from Texas introduced a companion to Emmer's bill to exclude exclude the FED, exclude the FEDS retail c b DC issue. So he says that his bill would keep the US quote off an insiduous path akin to China's some strong words, keep the US off an insidious path akin to China's. What does that mean? Well, I was talking about before China's China's Social credit score system.

So China has a system where your whole life is in one app, and you have payment and movement gateways, and everything's tracked, including your online behavior, and if you visit the wrong website or say the wrong thing, or criticize some leader, then you lose social credit score and then your life is impacted because of that. So it's a it's a we'd probably say like an Orwellian dystopia something like that, Like George Orrel wrote the book. If

you haven't read that book, you should. I don't think George Orwell meant that to be like a playbook or a or a documentary. But that's unfortunately how the world is turning out to be. Um, maybe these people should stop writing these books and making these movies because I think it's giving these politicians too much of an idea. But that's what he's saying. He said, it can keep the US off that insiduous path againto China. What China's doing the social credit score system where they monitor and

surveill and censor everybody. But it says Texas Senator Ted Cruz introduced a companion let slation into the US. Sent it on Wednesday, UH from Minnesota Representative Tom Emmer. That prohibits prohibits the Federal Reserve from issuing Central Bank Digital currency or CBDC directly to individuals, not to key peace. So the way that money is created, and that we talked about a lot on this show. I said, Oh, the Federal Reserve is printing money. We talked about that

printing money. Of course that's not really what happens. UM. If you think that's what happens. That's not what happens. Uh. The amount of printed money, like actual physical dollars, is very very small comparison to how many dollars are out there. Um. So, the way it works is the central bank. The Central Bank gives reserves to commercial banks, so thank JP, Morgan, Wills, Fargo, etcetera.

So the Federal Reserve pushes a button on a keyboard and puts reserves into these commercial banks, and then the commercial banks create the money into existence through loans. So when you go to your bank and you get a home loan, a car loan, a boat loan, a motor cyclelane or whatever, that money is then created into existence. So that means that I, you and I both have accounts with our local bank or commercial bank, and the

commercial bank then has an account with the Fed. What the Fed wants to do is they want to compress that stack. They want us to have account directly with the Fed. And the reason why I was, I think there's a bunch of reasons that I don't want to talk about. Two two main reasons why. One um in in March when you know the economy dropped out because everybody locked everybody got locked in their home and the government forced you to shut your business down, Thank you

very much. When that happened, Um, they tried to stimulate the economy, So let's send out money to everybody. And they did, sent a bunch of money out there, everybody, not me. I didn't get any money. I make over sars in California, so of course I guess I'm rich, but I didn't get any but but hopefully you did. But um, nevertheless they sent that money out. What the problem is. It was supposed to stimulate the economy, meaning people were supposed to take that money and then go

spend it, go buys things, stimulate economy. But what do people do? They saved it. The other problem is that they couldn't get the money out fast because the Federal Reserve was putting reserves onto the banks, but the banks weren't loaning the money out, so the money wasn't getting created into existence. So we could just save all this if we just got rid of those pesky banks in the middle and we just had accounts directly with people to the FED, and then the Fed could just push

money right into your account. That would be so much better, wouldn't It would also give the Fed a lot more power because now they could create money directly as opposed to having to go through those pesky banks. You know, who needs all these extra mentalmen with these checks and balances on power. We should just have unlimited power, and

we should have unlimited visibility to all the data. So what this bill is saying is that prohibits the Federal Reserve from issue with central bank digital currency or CBDC directly to individuals. Didn't didn't say they can't make CBDCs, just not directly to individuals. UM and it says fellow Congressman Cruizes legislation could potentially speed up the passage or rejection of the bill by allowing to be considered in

both chambers of Congress at the same time. So basically, you have like a lower level representative UM that submitted a bill, and now we have a senior representative like tex Texas Senator Tad Crews came on and sponsored it UM, which should hopefully help to speed that up. As what they're hoping. Um It says that they are motivated. The bill was motivated by a concern that a retail CBDC would force consumers to open accounts with the Federal Reserve Bank.

According to the lawmaker, that could quote be used as a surveillance tool that Americans should never tolerate from their own government. End quote. I love that there's still a few people in government that think that people should still

have privacy. You know, uh uh snowdon snowdon, snowdon. He has a quote, he said, people that argue that they people that argue they don't have a right, they don't have a need for privacy is like saying they don't have a need for freedom of speech because they have nothing to say. Oh, people that argue they don't need freedom of privacy because they have nothing to hide, is like saying they don't need freedom of speech because they have nothing to say. Well, I have something to say,

you have something to say. We all need freedom of privacy. Do you want the whole world to know how much money you make and how much money you spend and where you spend it? If I do. If I have a business and I sell my product to one price to one guy, and I made a special deal for him because of some special circumstances, I might want to keep that transaction private so other people don't know about that. I'm sure you've probably done business with somebody where they said, hey,

you don't tell anybody about this deal. Right, So there's privacy doesn't mean that. It doesn't mean that there's nefarest things going on in the United States. We have do what we're supposed to have due process of law, meaning we are innocent until we're proven guilty. Innocence until proven guilty. So privacy is not because we're guilty. Privacy is just because we don't need everybody to know everything. I don't

need to know. I don't need the world to know that I'm of you a special deal and he didn't get it. I don't need everyone to know how much money I made last year on this deal or whatever. Nobody needs to know those kinds of things. I can let them know that if I need to. Um, it says requiring us just to open an account of the FED is uh like, oh yeah, put it put people in aciduous path through China's digital authoritarianism, is what it says.

So we'll see how this plays out. It's interesting, Um, I think that they're going to want to get this through. I think it's going to happen. I mean, it's it's only a matter of time. In my opinion, it's the next step. The goal is to get The goal is to get China's social credit course system installed, not just in the United States, but in the in the rest

of the world, in the West. That's the real battle. Um, if you look at the pandemic, if you look at the measures that we're taking, forcing us to use a stupid app on our phone to show some stupid QR code to get access into areas of life, it's not about the virus. It's about forcing us to comply to gain access. Governments are calling it freedom as a service. They want to build pain and movement gateways. So we have to do these things to get freedom. Now, I

believe I was born free. The government's role was to protect freedom. The Constitution is not a set of rules for us to live by. The Constitution is a set of rules the government is supposed to be restricted by. It's not if the constumers just doesn't give us freedom. It guarantees our freedom from the overreaching government. It's a lot different. Um. Yeah, sorry about that little rant. Sometimes they get a little fired up. I'll be right back

with more. All right, welcome back here. Listening to the Markma Show. We're talking about the decentralized revolution. We're talking about the world changing right before our very eyes, as politics, finance, and technology are all merging together, converging together, converging cycles,

and the world's changing. Before the break, we're talking about how the central banks are trying to introduce a digital form of money, central bank digital currency, and how um some people in the United States, some congressmen, have submit to bill to say that no, the FED shouldn't create the central band digital currency, it should be the Treasury.

We talked about that. We talked about how um Ted Cruze sponsored bill to prevent the FED from opening up central main digital currencies and send him directly to the people bypassing the Bank's pretty interesting things. Uh, there's a lot going on. It's pretty interesting. The world that we are going into is not the world that we are leaving behind, that is for sure, and a lot of this is being really uh sped up. The catalyst is uh,

this war, this war on Russia. You know, war typically comes at the end of a long term credit cycle, debt cycles, um, and it's you. It's war comes for many many reasons, some of which are when you run out of money and you run out of resources, you have to go take it from somebody else. That's some of it. Also, it's because at the end of those cycles things break down so much that even diplomacy and

conversations and uh and and that breaks down. There's a lot of reasons why, but they all come at the end of a long term cycle, which is exactly where we're at right now. And one of the big things that's been happening We've been talking about quite a bit, is that because of this uh war over in Russian and Ukraine, we see that there's a crunch on energy. Um Europe, I'm sorry. Russia provides about ten of the of the oil the energy for the world, and so

if we take that offline, it's a big deal. We can't just the world just can't have teen percent less energy. That's gonna be a pretty bad situation. Um and and then and then what happened, So we need Russian energy, but then the whole world sanctioned Russia. So now you you know, the United States seized their bank accounts, almost six hundred billion dollars gone, just seized. And so Russia has no money. They can't transact in dollars. They can't do any trade, but they have the energy. They got

the oil, they got the gas. And so Putin told Europe that if you want your gas, which they desperately need so of cour because of because of the central planners and they're they're complete um and precision and guiding the policies and economies. They decided in their in their infinite wisdom and power, that they should shut down all their production of natural gas in the Netherlands, in the UK, and let's just dependent on buying it from Russia. What

could go wrong? Right? It sounds like a pretty good plan. Well, um, they need it. People will literally die of freezing to death or starvation if they don't have natural gas. So they need it. And Putin just told Europe that you need to now pay us in our own currency, in the Russian ruble. And if you don't, guess what happens, you don't get your gas. There's the golden rule. Who he who has the gold sets the rules. Now i'veset many times that gold is Gold's money, cash, dollars or money.

Bitcoin could be money, but money is worthless. Well, the goods and services, it's food, it's energies, water, that's what we need. We need that to survive. We don't need money. If I had if I had gold, bitcoin and cash in briefcases, but I had nothing to spend it on, I'll be worthless. But energy that's worth something. So uh, Russia was cut out of cut out of the world, cut out of the banking and cut out of the dollar. But they got the energy, they got the wealth, they

got the goods and services. So they say, fine, if you want that, then you have to pay us in our currency. Well, uh, European capital is rejected, which Berlin said amounted to quote blackmail Germany. Berlin, Germany says, that's blackmail. You can't do that. Well, what else are they gonna do? They can't, they can't get paid in dollars. They got cut out of the system. It's pretty interesting. But again, I'm not trying to pick pick and choose winners here.

I'm not trying to say one side is right or wrong, although I do have my opinions, but we're not getting to that for now. Um. What we're doing is we're watness. We're witnessing. We're watching as the world is literally breaking apart, the dollar being a reserve system of the world, the whole world working and trading in with trust and consideration

for each other. And now we're devolving into a system with absolutely no trust and no consideration for each other, and everybody's out for their own And of course, why would you use the dollars when the US just seize your bank account? Why would use gold? As a matter of fact, the UK just seized all of Venezuela's gold because the gold wasn't in Venezuela, was in the UK

safes and they stole it. So, uh, Venezuela couldn't trust the UK with their gold, Russia couldn't trust their dollars with the US, so pay me and my money, that's what they're saying. It's pretty interesting. And again I'm not trying to say who's right or wrong here, but just no notice that we are literally watching the death of the US dollar. Now I'm not I'm not saying it's eminently happening in the next day, week, month, or year, um,

but we're what we're witnessing it. We're watching this, we're watching it decline pretty quickly. Now. Um. Of course, not to be out done, good old President Biden has responded, and he is going to start releasing um oil from our strategic reserves. Now, strategic petroleum reserves SPRS sounds pretty important, right, like strategic reserves. Like it's pretty good idea to have reserves, Like you should have some reserves in the bank account,

like we should have reserve sounds like a pretty good deal. Um. They were created in nineteen seventy four after the oil embargo that we had when we ran out of oil, so said, let's never let that happen again. Let's actually save up some oil for an emergency. We have about as of March fourth, about five and seventy seven five seventy seven million barrels of oil, and Biden Seat Hill

release up to one million barrels per day. Now the US consumes eighteen over eighteen million barrels per day, So um, one million barrels out of eighteen million barrels per day. It's not a lot, however, Um, it's something. But what happens when they release all the reserves and then we don't have any more reserves anymore. That could be a problem.

So it seems like you might want to keep those reserves for the rainy day when you might need them proverbial rainy day if you will, which is something I think you should think about. Honest. Some other news, UM, what's interesting with bitcoin is that we have Chris Larson from UH from Ripple Ripple Labs. I want to be UM competitor to bitcoin. UM and Chris Larson. He has

a plan to greenfy bitcoin. He is running a massive campaign, spending a lot of his own money to run a campaign in conjunction with Greenpeace, saying that Bitcoin uses too much energy. Their Their campaign is called quote change the Code, not the climate, and the goal is to pressure the bitcoin community to make a transition away from power intensive proofs of proof of work to proof of steak that

uses less energy. Yeah right, last I check. Bitcoin doesn't have a CEO, doesn't have a marketing department, don't have a development for it, so good luck with that. UM. First of all, his UM, his reasoning for this is completely misguided. Bitcoin doesn't use too much energy. That's ridiculous. Bitcoin uses less energy than YouTube? Is YouTube that important? Bitcoin uses less energy than closed dryers or closed dryers

that important? But I think this is a UH. He's trying to pull on the heartstrings of the environmentalists to make himself rich. This is what's happening. So what he's gonna do is he is going to try to force a change on the code by mounting this huge effort and gaining mainstream press and try to get all these people to change the code, similar to what happened in two thousand seventeen with the block sized wars. And what

happens is you can't change it. What you could do is you could fork it, so you could split the code in half and make an exact duplicate copy of the new chain and then start from there. It happened in two thousands seventeen block sized Wars. There's a book written about it, when bitcoin cash was created. And what he does is he forks it and creates and exactly duplicate for himself and prints a bunch of tokens for himself and makes himself rich. What happened with bitcoin cash.

And then they sell all those new tokens and they print a bunch of money for them pocketbooks, playing you on behalf of the environment. They get themselves rich, and

nobody wins except for themselves. Now, the one thing you want to do is you want to have a bunch of bitcoin before they make a copy, because if you own bitcoin and then they forked it, and then you own bitcoin and bitcoin cash, you would instantly double the amount of bitcoin instantly, and then you could quickly sell that bitcoin cash when it was actually still worth something before it went down to next to zero where it's

at today. So if he's successful and he forks the chain, anyone that owns bitcoin will instantly get double the amount of bitcoin and you could sell it right away, just like he's gonna do. So he I believe he's going to do this as a as a political stunt, trying to use green Green peace to um enrich himself. But hey, we can play along. You can't beat him, join them, and so you should have as much bitcoin as you can when he makes that copy, and you end up

but double the bitcoin. It's the pretty good deal. We listen to the Markmath Show and thanks for listening.