The Mark Moss Show Mar 14, 2022

about the decentralized revolution. We're talking about the intersection of politics, finance, and technology, and of course that intersection is bitcoin and it is changing the world as we speak in more ways than most people can realize. And so that's why each and every week I bring to you the latest education so you can understand, you can build your foundations, you have the information you need to take advantage of this transfer. It's gonna be the way the greatest wealth

transfer you will ever see in your lifetime. We'll see in multiple lifetimes. And you can either be on the giving end. I've been on that side before. In two thousand and eight, I gave my wealth away to other people. I didn't like it. I've made a point. I've studied for the last twelve years these wealth transfer cycles to make sure it doesn't happen to me again. And so I can be on the receiving end. And if you

tune in each end. Every week, I'm gonna be continuing to give you that education that you need so you know how to see them, how to navigate them, and how to position yourself on the receiving end of these world transfers. And of course that's what happens when we go through highly volatible times like we're going in, with inflation running sky high, with world wars on the brink of of you know, taking place um and it's all

being driven by this technological revolution that we're witnessing. And so if you haven't already made a calendar appointment a date to be with me each and every week, then you certainly should just grab your phone put a calendar reminder to join me each and every week at this time, at this channel. It's going to be the most important part of your week. I can say that pretty confidently

because it's that big of a deal. Each week, I try to bring you this education that you need, to try to bring you the latest breaking news of the week to keep you up to date so you know what's going on. And then of course I try to bring you some of the brightest and smartest people in the space so you can get some different perspective as well, and uh, you know each week it's it's been exciting lately. Um, you know, it's uh this period of time, these last

couple of weeks. Um, it's kind of this Vladimir Linen quote that said that there's decades where nothing seems to happen, and then there's days where decades seem to happen. And that's exactly where we're at right now, is like every day is like another decade's worth of information. Um, you know, going making content on a regular basis, you know, on my YouTube channel and then of course here on the radio and the podcast. Um, there's been periods where I'm like, dang,

what are we gonna talk about this week? And then uh, then we get the periods like this where I'm like, there's too much to cover. I don't know what to do. But anyway, that's why it's important that you're paying attention. And there is a lot of stuff going on, specifically

around bitcoin, cryptocurrencies and the decentralized revolution. As we go back in history and literally looking at thousands of years of history, we can see that what changes the way that the world works, the way that the world organizes is technology that changes how it communicates, how it organizes, changes the political structures, changes the financial structures and everything else. And so really we're looking at the technology. That's exactly

what we're talking about today. And the big, big, big, big, big news is that, um, the United States, the Biden administration came out with an executive order. Now, UM, we've been talking about this, maybe I've probably talked about this a little bit in the weeks past, because there was like an announcement of an announcement. He was announcing that we are going to be making an executive order. An

announcement of announcement. I love those. We don't know what the executive order is going to be yet, but but we're going to have one. You just stand by and just be ready. We're going to make an executive order on cryptocurrencies. So that's what the world has been waiting

for the last two weeks. Of course, it's been dominated by the headlines of say Russia Ukraine, which we'll get into a little bit later, um, but you know, specifically with Russia Ukraine dominating the headlines and the sanctions that are happening there, Um, cryptocurrency is being thrust into that conversation as a way for UM, the Russians and maybe

even the Russian government to get around sanctions. Maybe we'll talk about that, UM, But it's been dominating the news headlines, and here we are UM with an executive order was finally released, UM talking about what they're gonna do to regulate digital assets or we should say, cryptocurrency. So I want to dig into that. I got a lot to cover today. I want to talk about that. I want to talk about what the why UM, the United States, UM, Why it's important what they're saying compared to the rest

of the world. I want to talk about why that's important. But even something bigger than that. So what you may not know is that the Central Bank, well actually say, the United States is just a smaller player on a much bigger stage. We're gonna talk about who's really pulling the strings up at the top. And I want to play some quotes of what they actually said. I want to talk about some of the implications of what they're actually saying and what this really means. They're not they're

saying it. Biden didn't say it, but the people up above are saying it. I'm gonna play some clips of what they're actually saying, which will help you bring into um some perspective what Biden said through the executive order. I want to dig into some of the implications of this.

And so we have some of these pieces that have already been used, and I want to talk to some historical relevance and reference of how well it's actually worked or or not worked, the problems of that, UM, and then I want to talk about the reality of if this can even happen. We're gonna look at some of the past past performance that the government has had had with the technology, and so much more. I had a lot to cover this hour, UM, so I'm gonna try

and get through it pretty quickly. UM. By the way, you're listening to the Mark mo Show, we're talking about the decentralized revolution. We're talking about the way take chnology changes the way the world works. We're talking, of course about the decentralized revolution, which is bitcoin, the intersection of politics, finance, and technology. So UM, back to what we're talking about. So, the White House, the Biden administration put this executive order.

It says Executive Order on Ensuring Responsible Development of Digital Assets. They call them digital assets. UM, crypto assets, cryptocurrencies, whatever you want to call them, and that's what they're referring to. UM. And it starts off by the authority vested in me as the President, by the Constitution and the laws of the United States of America has hereby ordered as follows. So it's important to understand is that the United States

was UM it's not a it's not a democracy. It's certainly not a dictatorship the dictators where one guy makes all the rules. UM. It's it's not even a democracy, which is a form of mob rule or UM it's a tyranny of the minority by the majority. The United States is a republic, which is a representative government. So we were elect congressmen and representatives to go to Washington

for us. One thing that's interesting about that, just acide tidbit, is that, you know, when the United States was founded, we had UM representatives that were supposed to represent a certain group of people. UM. But as the population of the United States has just blown up from where it was when we first founded, we haven't increased the amount of representatives, and so a lot of centralization has happened. But that's another story for another day. UM. But back

to this. UM. The reason why I bring this up is that, like I said, the United States isn't a dictator, but yet these are sort of like that. So in the United States, we're supposed to have a separation of powers, and so through the separation of powers, UM, it limits the amount of power that any one person or any one group or sector of the government has. And so then there's things we're supposed to go through, you know, a framework, and so we have representatives that are supposed

to represent our interests there. And then then we have the House, and we have the cang rise which are supposed to be split up, and of course that we have the executive branch, which is the President, et cetera. UM. But an executive order, like what he's saying here means I am king, I bypass, I override. I don't care what anybody else says. I don't care what do people want. I don't care what their representatives say. I don't care

about the House of the Congress. I am going to decide by myself unilaterally that I'm going to make these decisions. So just kind of I tell you what that means. Now. UM. As a side note, again, we have gas prices going sky high in Los Angeles or over seven dollars a gallon, which is insane. Um. Gas gas prices when Biden took office where I think two dollars and thirty cents a gallon nationally. I made it. I made a claim. I made a prediction that gas would be over ten dollars

by the time Biden left office. Of course, when there are two dollars and thirty cents, that was a pretty big claim. Um. But yet here we are over seven bucks. We're not too far behind now. Uh. Some of my track record if you watch my YouTube channel, UM September of I made a video saying that we would have an energy crisis coming to the rest of the world. I made a video nine months ago seeing we were going to have a food crisis coming to the rest of the world. And uh, here we are. UM, a

lot more to go. Don't go away, I'll be right back, all right, welcome back. You are listening to the Mark Moa Show, and we're talking about the decentralas revolution that we are witnessing right now. We're talking about history being made literally as we speak now. For a lot of people, they're not paying attention. Maybe You don't realize how monumental these changes are that we're seeing right now. Um, but they're happening. It's happening. It's gonna have massive, massive implications

for the future. And uh, you should be paying attention. Now. What I was talking about before the break is I was talking about, UM, the Biden administration. The White House put together an executive order, UM, the executive Order, and as I was saying, is basically he is, uh, you know, kind of being a dictator. I bypass all rep resentatives, Congress, House, what the people want, and I'm just going to declare this to be um a thing. UM. And so that's

what he put forth. This was just just just this week. Um. The whole cryptocurrency world and really the financial world was all standing by waiting to see what was going to happen. And UM, what's funny was that actually it involves obviously the White House and and the and the Treasury as well, Janet Yellen and the Treasury, and uh, the night before the executive order was released, everybody was waiting for the

executive order to be released. And the night before the Treasury Janet Yellen put out UM her press release UM with her comments on what the executive order was spoiler alert. So while everybody was waiting for the EO to find out what was going to happen, UM, Janet Yellen had already read it and put out her comments, and so it kind of took some of the surprise out. We

we read. We read that it quickly got taken down, but of course the Internet is basically permanent, and it was captured and we were able to read what that was and when when the when when Janet Yellen put out her comments on what Biden's executive order was going to be, UM, we found out it was somewhat harmless. UM. The price of bitcoin and cryptocurrencies rallied, rallied pretty hard, which was pretty interesting in the market, Like I said, was all standing by to wait and see what was

going to happen. UM, and we saw a bitcoin really pump. As a matter of fact, I think it's shot from about thirty eight thousand back up to like forty two thousands, so pretty good, pretty good sized move. UM. It's it's since come down a little bit since then, but that was about, you know, almost a ten percent move, which is which is pretty considerable. But back to the Executive Order. What's in there? Um, Like I said, it wasn't wasn't a lot of teeth. It's again more of an announcement.

So Section one policy Advances in Digital and Distributed Ledger technology for financial services. He says, UM have profound implications for the protection of consumers, investors, and businesses, including data privacy and security, financial stability and system attic risk, systemic risk, crime, national security, the ability to exercise human rights, financial inclusion and equity, and energy demand and climate change. So he's kind of setting this up. This is this is the

importance of what's here. Um. Now, first of all, advances in digital and distributed ledger technology UM d l T. It's a bunch of mumbo jumbo means nothing. Bitcoin is decentralized, meaning instead of one database, there's um thousands or millions of databases. They're calling it distributed ledger. Okay, Um, profound implications for protection of consumers. Yeah, that's always their main concern, right, Um. And then I love this part though, the ability to

exercise human rights and financial inclusion. Think about that. So financial inclusion, there's about two billion adults in the world today that have no access to banking why is that, Well, the primary reason is because they're not allowed. The financial system is a permission based system, and so right now, if you're a rush and living in the United States, you're not allowed to be in the financial system. So they're talking about inclusion, but it's their laws that are

making it so people aren't included. Has nothing to do with the money. The other thing I love this the ability to exercise human rights. There is no rights without the ability to transact, period. So how can I have the ability to exercise human rights in their words, without the ability to transact? Well, if I'm not I'm not allowed to be including the financial system, then I don't

have the freedom to transact. So it's interesting they say that. Um. But anyway, he also says that monetary authorities globally are also exploring, in some cases introducing essential bank digital currency, and so this is really what the whole objective of this executive order is. So one, how are we going to study and regulate cryptocurrencies and to how are we going to push force our own central bank digital currency? Um.

He went on to say, Well, I don't think. He went on to say, I think whoever wrote this for I wanted to say we must take strong steps to reduce the risks that digital assets could pose to consumers, investors in business protections. I say that with some sarcasm because they're not so concerned with the risks that consumers or investors take when you go to Vegas or when you buy a lottery tickets. They don't care about that.

They know you have no chance of winning, and yet whatever, right, Um, anyway, that's a whole another story. We can get to do about the sec and investor protections and customer protections. Um. But then they go want to talk about the financial stability and financial system integrity, combating and preventing crime and illicit finance, national security, the ability to exercise human rights. So I want to I'm gonna dig into a couple of those pieces. But the objectives are, um, protect consumers,

all right, So protect people? Um, the United States should ensure the safeguards are in place and promote the responsible development of digital assets to protect consumers. Well, I think that you're pretty smart. I think I'm pretty smart. I think I'm smart enough to think about myself. I think you're smart enough to think about yourself. If you're smart enough to decide if you want to drink alcohol, vote,

vote for the president, or buy a lottery ticket. I think you're smart enough to decide if you want to use cryptocurrencies. I don't think we need the nanny state the government to protect you from that. UM. And then they also want to protect the United States and global financial stability. UM. Now, part of protecting the US financial stability is to make sure there's no competitors there. They go on to say, Section C, we must mitigate the

illicit finance and national security risks. And that's what I want to dig into next. But really it's about pushing this central bank digital currencies UM and protecting UM, the people, the system from this illicit finance and national security risk. So we're gonna talk about each of those sections. UM. First, mitigate illicital, illicit financial, and national security risk. Okay, so that sounds pretty good. Right. They go on to say,

including money laundering. I guess that sounds bad. UM, narcotics, human trafficking, Well, that's certainly bad. I don't like that. UM. Terrorism, sure, I mean, who likes terrorism? Sounds good? Right? And prolif

proliferation financing. Okay, So they want to stop these and they say that digital assets maybe used as a tool to circumvent u S and foreign financial sanction regimes UM and so it says, well, the United States has been a leader in setting international standards for the regulation and supervision of digital assets for anti money laundring and counter terrorism.

It says that countering the financing of terrorism, which is known as a m l Anti money laundering m l. He says that with poor non existent implementations of those standards, some jurisdictions can present significance significant illicit financing risks for

the United States and global financial system. So the United States has set up this a m l Anti money laundring and they've set up an f a t F Financial Action Task Force, and they've set this up to UM prohibit elicit financing, prohibit money laundering, prohibit the use of money laundering, to stop human trafficking, terrorism, and so forth. But does it work well, you might be surprised to

find out. I actually have some of those results right here, and even more importantly than some of the results, I have some of the costs. So we always have to think about the cost benefit analysis. What is the trade offs? Nothing comes without a cost, and so I have some stats that are going to blow your mind when I read these for you. Next. Uh, make sure you're here, by the way. You're listening to the Markma Show. We're talking about the intersection of politics, finance, and technology. We're

talking about the decentralized revolution. We're talking about bitcoin and cryptocurrencies, just like the White House is talking about them here in this um executive order of the Biden White House put together. I want to explain to you what it says here, and I want to explain to you what we know of the cost benefits. Like I said, I'm gonna tell you some of these numbers and it's gonna

blow your mind. And then we're gonna talk about the Central bank digital currencies and what they're really telling us in their own words. You're going to be surprised. I have a lot more. So do not go away. I'll be right back, all right, Welcome back. You're listening to the Markma Show. We're talking about the intersection of politics, finance, and technology. We're talking about the decentralized revolution, which of course is bitcoin and cryptocurrencies, and we're specifically talking about

the White House. The Biden administration put together an executive order means I don't care what anybody says. This is what I say because I'm the dictator. Well he didn't really say as a dictator, but that's basically what an executive order is. And they're talking about, Um, they need to protect. They need to protect everybody because without the government, what would we do. I need them for my safety.

How can I sleep at night? Um? Criminals would run wild across the world if it wasn't for the government protecting us from ourselves, Right, that's what they say. So, Um, they said that the United States needs to make sure there's proper regulation and supervision for digital assets for anti money laundering a mL. So to talk about that for a second, So, um a m L anti money laundering.

And there's also KYC Know your customer. So if you've ever set up a bank account, which I'm sure you have, or a cryptocurrency account, you probably know what k y C is that to know your customers, So the bank or the cryptocurrency exchange, coin based crack and gemine, etcetera,

they have to collect all your information. They need to know your name and your address, and they have to scan your driver's license and there you have to upload your passport and you have to sign your name on a piece of paper and take a picture of you holding it, and you probably have all this information so they can know you know your customer. So part of the A M l antimoney laundering is k y C no your customer. All right, well that sounds good. Right.

They have to collect all of our information to stop terrorism, right, and nobody wants terrorism, So we should all be inconvenienced and we should all give up all of our information. We should all give up all of our privacy so we can stop these horrible, horrible, horrible things. Right. I mean, I'm sure lots of you listening right now are saying, yes, Mark, that's absolutely true. I'm I'm perfectly okay being inconvenience and given it my privacy so we can stop these bad things. Okay, great,

but does it work? Well? You might be surprised. So what we see here UM estimates here by a by a recent research report says that UM there's nine there's over ninety trillion dollars in gross domestic product in GDP. That's the amount of transactions or business or commerce that's being done globally. Ninety trillion dollars. Of that ninety trillion dollars, approximately three per cent is criminal. So that means that

criminals are doing bad things. Now, for the most part, if the government hasn't given you a permit, then it's criminal. So what what What what's deemed criminal and what I might and you might actually consider criminal are two different things. Right. Obviously, we're all against child trafficking. We all agree on that. I can't imagine anybody except for a very very very tiny small percentage, but pretty much everyone agrees that that's bad.

That's criminal. Um maybe um, you know, moving drugs, Okay, so that's criminal. Okay. So there's there's things we can agree on, but there's things that maybe we don't agree on and maybe shouldn't be illegal. But anyway, well we're not gonna get into that conversation. So over ninety trillion dollars of GDP and about three per cent is criminal.

So right off the bat, we know that this k y C and this a m l UM is all being put into place to potentially maybe stop the three percent at the inconvenience and cost of the nine seven percent. So people have to deal with this crap to potentially maybe help stop the three percent that are doing something wrong, but does it work, so you'd be surprised. Per this research report, it says that, um these this k y C a m L policy captures less than zero point

one percent of the criminal activity. So three percent of the all the transactions in the world are criminal potentially whatever they call criminal, and they capture less than zero point one percent of that. Wow, So I guess what you're saying is it's not very effective. Is that what you're saying market doesn't really work? Uh? Yeah, that's exactly what we're saying. Now think about this k y C

Know your customer. First of all, it's super annoying. Right every single time I want to go into a new website and set up a new account, I have to go through this whole process of uploading these documents and all that stuff. Super annoying. Um My, my kids, who know more about bitcoin than most people, aren't allowed to buy bitcoin because they can't pass an a m L k y C standard because they're too young, so they're inconvenienced. I'm not able to buy a bitcoin from my kids

because they can't pass this. So it's it's super annoying all right. That's first of all, UM too, it's super expensive for businesses. So businesses so that the exchanges, the banks, um, et cetera, they have to comply with these laws, these rules. They're basically UM the government has turned them into UM policeman or spies, if you will. They have to capture all this data, right, and they have to save it, and they have to comply with all these things in

the way they handle the data, all these things. Estimates are that there's two trillion dollars per year spent by businesses trying to comply with the k y c A m L. That's two percent of the global economy. So what that means is that your expenses are two percent higher because of this trying to comply with this, so inflations raging all time high. As a matter of fact, today, UM we saw the new CPI numbers come out seven point nine percent. They're doing everything they can to get

those down, right. Well, if they could drop them by two percent right here by just dropping these policies that are doing absolutely nothing. But no, never mind that UM, so two percent of global economy, two trillion dollars per ars sent by that and and these numbers are are are just staggering. So some institutions spend up to five hundred million dollars annually. Let me repeat that, five hundred million dollars annually just to comply with these k y

c amail UM. Ten percent of businesses, the top the top ten percent of the businesses spend at least one hundred million dollars each. Now, what could they do with that one hundred million dollars each or two trillion dollars anyally? Well, they could invest into more research and development and come up with new products. They could potentially pass those savings to us. They could potentially pay their employees more money,

and on and on and on. Two trillion dollars a year is wasted to capture less than zero point one percent of the criminal element. Um. It completely kills freedom. Without the freedom to transact, there is no freedom, and they are basically stopping it. Like I said, even my my, my kids can't even buy bitcoin because of this. So it kills freedom, It kills the economy. Um, it's draining two percent of the global economy. Two trillion dollars a year spent just to keep up with this um. Where

could that money go? It kills innovation. It literally kills people. What do I mean by that? Well, um, there's a story of money that was going to Somalia to feed starving people. They're they're literally starving to death. Um. You know, I'm sure you've all at one point seeing those commercials on TV of those starving kids and you could just you could send them some money to feed him. Well, there was money going to Somemoia to feed these these

kids that were literally starving to death. And uh, you know, um, because they deemed it to be you know, terrorists, terrorists, a state that supports terrorism. All funding was cut off to Samoyam, so all that money that was going to literally save lives couldn't be sent to him anymore. So it literally killed people. Like I said, it kills the freedom at the cost of two trillion dollars of your annually and so and and it accomplishes nothing. It literally

captures less than zero point one percent. Um. So anyway they want to think about that. The other thing to understand is that anyone who thinks that k y C Know Your Customer makes sense has a complete failure at the understanding of how economics works. All right, So, um, the reason why we have money in the first place is so that I can do business with people I don't know, not the other way around. There's a complete failure of of economics. I want to break that down.

I want to break down the next part of what the White House Executive Order said, which is Central Bank digital currencies. I have a quote I'm gonna give you UM from the Bank of International Settlements, and then I want to talk about UM, the government's amazing track record with dealing with technology. You're gonna love this. Uh. You're listening to the markma Show. We're talking about the intersection of politics, finance, and technology. We're talking about bitcoin and

the decentralized revolution. Uh. We're talking about how it's going to change the world and what the government's trying to do about it. UM. Like I said, I have a lot more. I want to talk about the Central Bank digital currencies, what the b I S said, UM, governments track record with technology, and so much more. Don't go away. I'm gonna be right back in a second. All right,

welcome back. You're listening to the markmas Show. We're talking about politics, technology, We're talking about finance, We're talking about Bickoen we're talking about the decentralized revolution. We're talking about all of the most important subjects that are changing the world right now at this time, and we're bringing it all into context so you can make sense of it

all now. Before the break, I was talking about um the White House, the Biden administration, the executive Order they put together, and how they want to um regulate cryptocurrency for our protection. Of course, it's always for our protection. We must give up our privacy, we must give up our freedom, we must give up our um you know, convenience so we're more safe. And we're talking about how these k y c amail policies do way more damage

than good. As a matter of fact, they're pretty much worthless. They capture less than zero point one percent of any type of criminal acts and put at great harm and danger because of that. Um So, I mean, think about it. If you have to put all of your information into

these centralized databases, those are honey pots for criminals. Honeypots meaning uh, you know, high value targets for criminals, and they get hacked all the time, and your information that you've been forced to put your information into the centralized databases to may maybe potentially stop. A bad person gets hacked by bad people, and your private information ends up all over the internet. People are put at risk, are inconvenienced, your freedoms are taken away. People around the world are

literally dyeing. The economy is suffering two maybe hopefully potentially capture less than zero point one. That's the that's the numbers. But, like I was saying before the break um the fact, if you think this even makes sense, you have a complete and utter failure to understand the way economics works. So, as a business owner, my job is to be known. I need to build up a reputation for myself for

my business. You need to understand or you need to come to trust me that you're I'm going to deliver this product are good for you. For example, That's what like franchises like McDonald's. Like I don't think anybody thinks McDonald's is the best food, but you know, wherever you go in the world to McDonald's, you know what to expect. There's like this level of trust. We know McDonald's. But the reason money is there is so McDonald's doesn't have

to know us. Right in the old days, when we have like a barter system like the general store would keep like a ledger and they would basically give credit to everybody. So they needed to know all the people that frequented those stores so when they came in, they could give them credit and they know they knew them so they could collect money from them later. But money was literally invented, so we don't have to know them.

So I need to know the store. I need to trust the store, but the store doesn't need to know me because as soon as I give them that money, that's all they need. There's no reason the store needs my email or my name or my address. And we've all been conditioned to think this is normal, but it's not. It's not normal at all. There's no reason they need to collect this information from us, putting in these databases

that get hacked all the time. So anybody who thinks that this makes sense, like I said, has a complete and utter failure to understand how economics works. That's the whole point of money. If you give me the product and I give you the money, that's all we need to know about each other. Now onto the next part. Um, see if I can speed up a little bit here. Um, what they also talked about is that the United He says, Section D, we must reinforce the United States leadership in

the global financial system. UM. They go on to talk about needing to support cross border payments. So people come to America to send money back to their family at home, and so he says that the Section F we must support technological advances. UM. And then, of course, then we go into Section four, which is UM bank digital currencies. The policy of my administration on a United States Central bank digital currency is as follows. He says, sovereign money

is at the core of well functioning financial system. And so they talk about the importance of having a central bank digital currency. UM. Because the reason why people want to go to bitcoin, UH is because the government doesn't have a form of digital money supposedly. Right, No, pretty much all of all money transactions are done digitally anyway. I mean, I hate to admit it because I harp on this stuff all the time, but I don't really

carry cash around. I use my debit card or my credit card everywhere I go, right, I mean, I don't who uses cash anymore. So it's already all transactions are done digitally. It's people aren't going to bitcoin or cryptocurrencies because we don't have a digital form of cash. They're going to bitcoin and cryptocurrencies because because the dollars losing value so fast, nobody wants to save their money in it. Um. So they're completely missing the whole point here, um or

are they? I want to play a clip of what the b I s. The b S is the central bank above central banks. I want to play a clip of what the head of the b I s. His name is Augustine Carston's has to say. Let's go ahead and play clip number one. If we tend to establish the equivalence with cash, and there is a huge difference there. For example, in cash, we don't know, for example, who's using a one hundred dollar bill today. We don't know who is using the one thousand vestle bill today. So

um cash um. They they don't know who's using a hundred dollar bill, nor should they. That's the whole point. If I have a hundred dollar bill and I want to do business with you, you give me the good, I give you the bill done, Why do they need

to know? That's he said. That's what he said, right, They don't know now, so you can understand, let's play the second clip from Augustine from the b S. A key difference in with the CBDC is the central Bank will have absolute control on the roots and regulations that will determine the use of that expression of central brand pligeability and also we will have the technology to enforce that. Mm hm. I always say, take them at their word.

Heard it right from his mouth. Um, they don't like cash because they don't know who's using a hundred dollar bill, nor should they know that. They don't need to know that. Um. They like a central bank digital currency because, as he said, they have absolute and total control. Absolutely, they're gonna have absolute control with rules and regulations that will determine the use in the expression of the central bank digital currency,

and they'll have the technology to do that. So you remember in Canada a couple of weeks ago, Um, anybody who might have been anywhere involved in that frees their accounts. Oh yeah, central bank digital currencies make that easy, just click that button, done right, Um. And so they want to control all the money through their own financial system. And that's what this Central Bank or this executive order did.

Really put an emphasis on this. He said that section B of Section two number B within a hundred and eighty days of the data this order, they shall submit to the President a report on the future of money payment systems based on the potential United States c B d C design options. So within a d eight days they want to have this rolled out. And why do they want to do that? Well, you just heard directly from the head of the b I S, now, is

this really going to happen? Well, Um, I'm running out of time here, so I can't really dig in deep into this, but we have forty years of failure. The I r S has been unable to fix their computer system. So for forty years, the i RS has tried and failed to update its main computer system, regardless of the funding level, regardless of who control of the White House. Um,

the bureaucracy cannot pull it off. And I have this compilation from any starting back in the I r S is struggling with data processing system by its own admission, all the way to one. It says that the RS started developing it in two thousand nine, this new system, but it's not scheduled to be finished until development costs are now about four times higher than originally planned, and now it's only expected to replace the core components of the old program as opposed to the entire system. And

it's not supposed to be done. UM. They've been trying to get this done the I R S system for forty years. Are they really going to take over the money? And if so, do we really think they can do that? Remember Obamacare when they rolled that out, UM, a website, a simple website where people could go and shop their insurance plans. They couldn't get that done. As a matter of fact, they spent over two billion dollars to get a website up so you can go shop your insurance.

And this is all because, uh, you know, central planning. They can't do it. The incentives are misaligned. I can't dig into all that, but hopefully that makes sense to you're listening to the Mark Moa show. We're talking about this decentralized revolution that we're witnessing right now, and we're seeing decentralization versus the centralization of the government, the central planners playing out in real time. It's super fascinating. If you know what you're paying attention to. UM, you listen

to the markma show. UM talking about the intersection of politics, finance, and technology, bitcoin, cryptocurrencies, the decentralized revolution um. What a time to be alive right anyway, That's what I got for you today. Thanks for listening.