The Mark Moss Show Mar 28, 2022

that are driving this change. And as the world changes, UM, volatility happens, right, changes hard. Um usually well, a lot of times change is good, but it's not always fun. It's not always easy, and that's exactly what we're seeing in the world. Um. We're going through massive changes. And what that means is that new things are created, which is exciting, but it also means old things that were used to dies and so you know, it's good for something,

it's bad for others. Um. It could be extremely good for you if you're paying attention, could be extremely good for you if you position yourself to take advantage of it. Could also be extremely bad for you. If you're not paying attention, It could be extremely bad for you. If you're part of one of the industries are part of the part of the the economy that gets killed off. UM, But that's okay. You have time. You can you can change I like to say, you're not a tree. You

can move. You could change careers, you could change companies, you could build new products, UM, you can change your investments. You can do all these things. But only if you have the information right, only if you know what the heck is going on, which is why you need to be tuned into me each and every week. UM. There's a lot of people on the radio, and I appreciate

you listening to me. There's a lot of people that UM can talk about politics, and there's a lot of people that can talk about the finance, but in my opinion, there's nobody putting it all together into the context of what's going on in the world today like I am. And so hopefully you joined each and every week. If you're not driving poletryphone, real quick, put a calendar. Remind do to make sure you tune in each and every

week on this time, this channel. UM. Try to make it the most important, the most profitable, maybe somewhat entertaining part of your week teaching every week. So thanks for tuning in you listening to the markma Show, and uh man, we have a never ending supply of stuff to talk about because, as I said, right, the world is changing and it's creating. It's an exciting time and there's so

much to talk about. And of course, what's dominating the news over the last several weeks, and it's been dominating what I'm talking about. It's dominating every other, um, mainstream news and alternative news, whatever you wanna call, it's dominating everything. All the headlines is of course the war going on with Russia and Ukraine. But what I want to talk about isn't the war on the Russia and Ukraine war and what's happening with that, Um, what you know, we

can we can get into that. There's plenty of people covering that. I saw a great piece by Tucker Carlson this week, UM where he really talked about the politics of Ukraine, which I thought was very interesting because it's definitely different than what you're typically hearing across mainstream media, which is, uh, the whole world now apparently stands with Ukraine. Everybody's flying the Ukraine flag and I stand with Ukraine.

I stand with Ukraine and um, I do you know, Mark Most does I mean, I'm not for dictators and I'm not for tyranny. I'm not for war, I'm not for people dying. I'm not for any of that. UM. I would condemn any government leader from invading another country and killing people innocently, Like I'm I'm always against that. UM. But the piece that Tucker Carlson was talking about was that that's fine, and you can have that stance, but just understand what Ukraine is. Because Ukraine is not a democracy.

So if you're saying that we support a democracy and Putin and Russia as a dictator, and so we're against it because we don't want dictators taken over democracies, well that's wrong. And it was It was interesting. He had all the receipts, He had all the facts, all the all the figures, all the data points to back that up. If you're curious about it, go ahead and look it up. I'm not gonna dig super deep into that. My point is, as I'm talking about at my point is I'm not

going to talk about that. I mean that that's interesting and that's a great piece, but I don't I don't really care about that. Again, I want to bring what's happening in the world into context, and so we're gonna look at it from a much broader lens, because the world as we know it is changing. The financial system of the world is changing. As a matter of fact, the global financial system is going through its fifth change in about the last hundred years, about the last century.

So it's been massive changes to the global financial system. And this is the fifth one, really the fourth one in less than a hundred years, that has massive, massive implications for your every day life. Your money, right, your money is at the base of your life. That that your money is how you know can you afford to eat steak or do you eat slop? I mean, how much food can you afford? Can you drive your car? Can you go get entertainment, can you take a vacation?

Do you have to work more hours than you used to? I mean everything hinges off of the money. And so I want to talk about the rush of Ukraine situation, and I'm going to talk about how the entire financial system is changing right now. And as I said earlier, um, if you understand this and if you navigate it properly, then it could be a massive opportunity for you doesn't have to be bad. Uncertainty is scary because you don't

have the future holds. But I have a I have a daughter and she's graduating high school and uh, she's kind of going through this realization that, oh, shoot, I got to become an adult now, and I don't know what to do. And uh, I'm scared because my whole life has been laid out for me and now I got to figure it out. And I told her the same thing I'm telling you, which is that I get it. It's scary. It's uncertain. You know, your whole life has been laid up for you, and now you have to

go figure it out. And so while that's scary, it's also should be exciting because now you can go right whatever future you want. And so the same is true with us. We're going into this uncertain world, but it should be exciting because we get a new world and if we navigate it correctly, we could we could benefit from that. So, um, I'm talking about well, before I frame up the five different times the global financial system changed and what that meant for everybody. Before I frame

that up, I mean, you can see what's happening. As the system is changing. Right, So, um, inflation you hear about that all the time. Price is going up. Now there's a whole another lesson about what inflation is. Inflation is not prices going up. Prices going up is the result. It's the effect of inflation. Inflation is the increase in

the money supply. But whatever, we have a massive increases in the money supply, which is then leading to massive prices increasing across the ward from consumer items, from the amount of gas, the gas prices you pay, which I'm here in southern California. Down here in Los Angeles, I think we might have the highest gas prices in the nation, maybe even the world. As a matter of fact, I think we're over seven dollars and fifty cents a gallon.

It's insane. Um, So gas prices going up. Of course, when gas prices go up, then everything goes up because the food has to be trucked to the store, the clothes up to be truck So then we have food prices going up like crazy. Um. When we have prices going up like crazy, we when we have massive inflation, the economy is hurting. Then that has always historically and this time is no different. Has led to wars, which

of course now we're talking about this Russia Ukraine war. UM. And then when wars happen, then we have UM and the and the inflation is a problem. Then we run into other problems. So now we're running into UM food crisis. So between Russia and Ukraine, they control thirty percent of the global wheat and corn. That's a big problem. UM. It's about twelve percent of the world's calories, which is a pretty big deal. So now we have these few

food crisis that are happening all over the world. They export UM over the of the of the fertilizer and of course what do you need fertilizer for, Oh yeah, to grow food. That's the problem. UM. And then we have wars, right, wars always break out, And then we have the energy crisis, so we have we don't have enough energy. Of course, Russia supplies the world, I think about eight or nine percent of the world's energy oil and gas, and so that's a big problem. We have

massive energy problems in the United States. Massive not so much in the United States, those are self inflicted, especially in California. Massive energy problems in China. It's a big problem. UM. And so we have that, and then, uh, you know the wars, right, the wars always happened. When when that happens, and I'm here to tell you that things are about to get worse. Don't go away. I got a lot more coming about how the financial system changed and what

you need to do. I'll be right back, all right, welcome back. You're listening to the Markma Show. We're talking about the way the world is changing right now. It's an exciting time. It's a scary time. It's an exciting time. We're talking about the decentralized revolution. We're talking about the political and the financial system and the technology system all

being reset, all being rewritten right now. Of course, before the break, we were talking about how the world's gone crazy, right, prices are going crazy, Gas prices are crazy, Oil is going crazy, energy crisis and food crisis. Everything is getting worse and worse and worse. And then of course we have war. War always comes after that. Um and uh, I set that up before the break, last last on the last section, and now I want to dive into,

um some history. I love history. If you watch my YouTube channel, which if you don't, by the way, you should just search Mark Moss on YouTube. You can find that I try to always pull this historical lesson UM into each each of these so you can get this perspective that you can only get through history. The problem is that most of us, uh, we as humans were we were horrible investors um. And we suffer from a

lot of problems as humans. UM. One of them is what's called normal c bias, and so we think whatever is normal, just is this is whatever we're doing right now is normal. That's why people today keep going when are we going back to normal? Well, there is no new normal. Uh, this is normal um. So anyway, there's normalcy bias. Another one that we suffer from is recency bias. And so whatever has happened recently, we think we'll just continue.

If we have high inflation, we think there's always high inflation if we um, if we think the US as the world superpower will always be the world too power. But that's not necessarily the case, and so we have to look past our own knowledge and look past backwards into history. So let me give you a quick history lesson here. First off, the US has not always been the world superpower, and the US dollar has not always

been the reserve currency of the world. Before the dollar was the reserve currency of the world, it was Britain with the pounds sterling. The US took that position over from Britain UM in around the thirties. All right, Now, what happened is that gold had been money for five thousand years. And but the problem with gold is it's very hard to transact. Um. We're in a digital age now right right now, I'm coming you live over the internet or over your radio, And how do I send

you gold over the radio over the internet? You don't obviously, right, And so as we started to do commerce globally, um, it started be getting very difficult to transact with gold. So gold would go in a bank and then somebody would use a ledger and they would say, okay, now Mark, oh's you X amount of gold. But the problem is I have to trust that person with a ledger. How do I know if they're keeping the ledger right? What if something happens to them, what if they try to

do something maliciously, et cetera. What happened is, over over a long period of time, all that gold ended up in the banks, and the banks issued US claims on the gold paper goalstificates. It was a claim on the gold that meant that if you had that paper goalstificate, you can go to the bank and you could exchange it for gold. Well, what happened is the United States, the banks they started printing so many of these paper claims that there wasn't enough gold to back up the claims.

We couldn't trust them. Like this is the keyword. I'm gonna come back to you several times. We trusted the banks to hold our gold, and that we trusted these paper gold certificates would be redeemable for the gold whenever we want. Now you hear a lot of things about like, well, what's the dollar backed by or what's bitcoin back by? That term backed by only came from because we had paper gold certificates that were backed by gold. They were

redeemable by gold when you had gold. What's gold back by? Exactly? Gold? Gold is gold, right. When I have gold gold, gold is backed by trust, meaning that somebody else would take it from me at some point. But the paper was backed by gold, I could go redeem it. What happened is by three they had printed so many paper cl certificates we did we trusted them and they let us down that there was a big problem. There wasn't enough gold to go around, and so what the government do.

They created a um. They went on a bank holiday. That's that's what they called it, a bank holiday, meaning the bankers went on holiday. They shut the banks down, and you could not if you're an American at that time, could not get your money out of the bank because they were shut down when the bank's at that time, gold was the paper goalstificates those claims were worth. It took twenty of those paper goals ticates twenty dollars to get one ounce of gold. Well, when they shut the

banks down, they shut them down approximately a week. When they opened them back up, you weren't able to go redeem those paper goalstificates for gold anymore. It was now illegal. You was American, couldn't own your gold. And even worse, instead of twenty dollars per ounce of gold, it was now thirty five. So you lost of your wealth overnight, just like that. Three is when the entire system changed. That was a big deal. What it did is it

torpedoed trust. We trusted them to hold our gold. Now they just stole it from us and not only they steal it from us, they devalued our paper goal stificates. Imagine losing net worth overnight. That's what happened. Okay, then fast forward. I'm gonna go forward quickly. Or nine was

one of the biggest years. Was the pivotal year. The entire world got together and created a global monetary standard, a gold system where the dollars would be backed by gold thirty five dollars equal one ounce of gold, and then all the currencies of the world would be pegged to the dollar. So basically everybody's on this gold standard, and so that worked pretty good. Now at the time, um that was called the Breton Woods Agreement, a gold standard.

There was another system that was proposed, and this is an important piece because I'm gonna come back to this in the future. This is actually where we're maybe going into now. So there was another system proposed. It was called a BANKORPS system. And the bankcor system was proposed by somebody named John Maynard Keynes, and he said that what we should do is all the nations should have a neutral reserve asset and we should have a currency,

a money system that's backed by commodities. Commodities are real things. Commodities are are gold, um, oil, wheat, things like that, minerals, medals, etcetera. So those are real things. Now. The reason why that's important to understand is that money gold was money for five thousand years. Money, gold, dollars, bitcoin, whatever want to call it. Money is a medium of exchange. That money isn't worth anything other than how much goods and services

it will buy me. I've used the example many times. If I was on a deserted island with a billion dollars of cash, a billion dollars of gold, and a billion dollars of worth a bitcoin, none of it would be worth anything unless I had some goods and services I could buy, unless I had food and water and a boat and a phone to get off that stupid island. Right, So it wouldn't be worth anything to me, And so

gold isn't worth anything. Bitcoin isn't worth anything. Dollars aren't worth anything unless I can buy goods and services with them, And so the goods and services are real things. Wheat, water, energy, Right, those are the things that we need to survive. We don't need gold to survive. So um, he suggested John Maynor Keen suggested in this bank or system that we had a neutral reserve asset that would be that would that would use a commodity basket, So a basket of commodity.

So let's take a little bit of wheat, a little bit of oil, a little bit of gold and put it into a basket and then the nations will be backed by that. And the reason why that makes sense is that, Um, whether it's me Mark Moss as an individual, or me Mark or or our city or country or a nation, we must produce more then we consume. So we have trade balances. So if I, if I make the clothes and you make the food, I need to sell you enough clothes to make up for the food

that you sell me. But if I if I can, if I sell you all the clothes, but it's still not enough to get the food, that's a problem. Alright, So um, we should have this neutral reserve asset of commodities. But anyway, the world didn't go that way. The world went to this breton Wood system, which was this goldback system. Okay, so the US had this massive privilege where the dollar

was the reserve asset. The problem is the United States was trusted by the world to hold that system together, and then the world um would then store their wealth, their reserves, their savings would be held in dollars, and they trusted the United States to hold that system together. The problem is trust again and trust just like a nineteen thirty three was broken and then it happened again and again again. I'm gonna dig into that. I got a lot more to go. You're listening to the Mark

Moa Show. We're talking about the decentralized Revolution. We're talking about the way the world is changing right now and why. And I'm going to be telling you the change that just happened on February two that changed everything as we know it. Do not go away. You don't want to miss this. I'll be right back with more. All right, welcome back. You're listening to the Mark ma Show, and

we're talking about the decentralized Revolution. Each and every week, we're talking about the way that politics, technology, and finance are all colliding to change everything as we know it. And it's happening right now, right before our very eyes. Before the break, I was talking about how the world has gone crazy. Prices are going all over the place, wars are breaking out. You already know that I was talking about some dates, some very pivotal dates in history.

I talked about nineteen thirty three. We trusted the US and the banks not to create more paper claims than they had gold, but they let us down. Um. We trusted them to hold our gold, and they let us down. They seized it, and they made it illegal, so they stole. Not only did they print more they lied to us and printed more paper galtificates, but then they actually stole the gold from us. That sucked. Four. The world was at this pivotal place to to set up a new

global financial system. Would it be the bank course system or would it be the Bretton Wood system. Well, the breton Wood system one out will come back to the bank corps later um. And again the world trusted the United States to uphold this system and so they could save, they could put their reserves, nations could put their savings and reserves into U S dollars into U S treasuries.

Has not happened from until ninety one. And what happened is um, the nations of the world were told, yeah, save in dollars, that's fine, and any time you want, we will convert those dollars back into gold for you um. But the problem happened is that again anything that happened up to ninety three, the government printed way too many dollars, and the nations around the world realized what was happening, and they didn't trust the U. S and they said, hey,

we know what you're doing here. This is ridiculous. We don't want these fake paper gold certificates. We want the gold. And so the nations kept trying to come and repatriot or basically take back their gold from the U s UM. Finally, in nineteen s one, France I believe it sent their warships to the US to collect their gold, and President Richard Nixon said, nope, we're not doing anymore. Basically defaulted

on the debt. We're not going to pay the debts that we owe anymore on the in the United States went bankrupt NTE, and it ended the gold system. And again, the world trusted I'm gonna keep coming back to that word trust, or the world trusted the United States to hold their gold. The world trusted the United States to keep the dollar um and the gold system and check, the world trusted the US to exchange these paper clal certificates for gold. But one the world found out they

couldn't trust the United States and any of that. They printed too many dollars, they didn't give them their gold back, etcetera. All right, so then the world went into what's known as a petro dollar system. So then, since the dollar wasn't backed by gold anymore, the United States made a deal with Saudi Arabia and said, hey, Saudi Arabia, check it out. UM, if you make everybody buy oil in dollars, then we'll protect you with our giant military. Don't worry,

we got your back. As long as you make people pay in dollars, we're going to cover you, um with our military. And so we've been in this petro dollar system, and that's where we've been since or really I think I started in the seventy three or seventy four UM, and that's kind of been the system that we've been in ever since. Now, Remember the world are wealth is is goods and services. Wealth is uh is food, it's energy, things like that. Um, it's not money. It's not gold,

it's not big one. It's it's money. It's not money. Money measures how much we can buy UM. And at the at the base of everything. And this gets a little philosopicals to stick with me for a minute. All of wealth is goods and services because we need food, we need shelter, we need heat, we need water, we need those things to survive. But it's at its base everything is energy. So your body, it needs it, burns energy. Right, So if you go exercise, if you work, your brain

is using energy to listen to me right now. But how does your body get those that energy to burn? Well? Calories right, calories are energy in your body. So everything. So the law of thermodynamics is that energy cannot be created. Energy can only be unleashed. It can be und can be harnessed, it can be transferred. All we can do is move energy from one source to the next. We can't create energy, So we have energy. We have these

electricity plants. They're creating electricity, but they're taking another form of energy and turning it into electricity as another form of energy. We can't create energy. So energy is the is the base of wealth for life. Without energy, there's nothing without energy. There's no food without food, there's no energy from my body. Without energy from my body, I die very simple, right, And so the oil has been been basically backing the dollar ever since. But February two

something changed, something changed. The world as we know it has changed, like those other dates I've given you, And that was the time when the war between Russia and Ukraine broke out. The United States decided to jump in and used the dollar, which has been the reserve asseid of the world for the last century, used the dollar as a weapon, and they sanctioned Russia. Of course I've been talking about this for the last couple of weeks, um,

and they sanctioned Russia. But what they did specifically on that day is they said, your reserves, the money that you're saving in the bank, it's no good anymore. It's not yours. And so that killed this petro dollar system. Are nations around the world wanted to save in these dollars if you have, if you if the United States or whoever can just say up that money is no good anymore than why would any nation want to save

in that? And they wouldn't. Right now, what's interesting is if we go back through time, if we look back really, um, look at at the price of oil. So I talked about earlier, how gas prices are going through the roof, and gas prices going throughof goes oil going through the roof. Well, why is oil going to the roof? Well, oil had been kept in a pretty tight range for a really

long time. As a matter of fact, it kind of stayed in like a fifty dollar range um since we got on, since we got onto the petit dolor system in the seventies, up until about two thousand and five, and the and the US was managing that just like they had managed the dollar to gold ratio before. Now they were managing the dollar to oil ratio, and it

was kind of in range. But around two tho five, the United States decided to abandon that and to try to save its own economy and started printing massive amounts of dollars, massive amounts of stimulus, just like they did over and over before. And what that did is that pushed oil much higher, shooting up to well over a hundred dollar the barrel. And now instead of staying in that range, now it's more in the range. And since that's happened, and now we can't trust these U S

dollars anymore. Remember back to that word trust. All these nations around the world that we're trusting the United States to hold their money for them just found out that they can't trust. Now, all of a sudden, the world is shifted onto a new system, and that system is now back to this bank course system that was originally introduced or or suggested by John Maynor Ken's back, which is we should go back to a commodity money. Now

this has actually been happening for quite a while. We can see that UM over the last couple of years. So UM, the nations around the world, if you're Russia or Germany, or France or whatever, even China, where do you store your savings? Where do you store your reserves? Now I store my savings in the bank. You probably do as well. Bank of America JP Morgan, Wells Fargo, whatever. They don't store their wealth in the bank. When you have billions or hundreds of billions of dollars, you don't

just store it in JP Morgan. You buy US dollar treasuries U S T S treasuries, which are basically they consider a risk free acid as good as as good as gold, as good as money. Um. And that's where you store those. But now they don't want to do that because Russia just found out that they lost them all. So the whole world is scrambling and try to figure out what the new system is. And so, um, some big things are happening right now. The world is scrambling

for oil. But what we've seen over the last couple of years is that, um, instead of these nations buying more US treasuries, they've actually been net sellers of treasuries and net buyers of gold. So over the last couple of years, all these nations have been adding gold instead of US treasury. So they've been preparing for this for a while. So this came to a head on February two, but this has actually been in the works for a number of years. Now. On top of that, some other

things have happened. That's pretty interesting. So um, not only did did that happen, but then we have U. S. Senators calling to seize gold from Russia and we actually have some historical precedents for that. Um, And if they can't trust gold, what could they trust. Well, there's a lot more to this story, but obviously Bitcoin is one of the big beneficiaries of that. Bitcoin has been thrust onto the world stage right now because the world is

starting to realize they can't trust dollars. They can't trust governments, and maybe they can't even trust gold. And that's why bitcoin is getting all this world's attention. Right now, you listen to the Mark Show, I'm gonna be right back. Don't go away. Are you listening to the Mark Moa Show? And I'm back. We're talking about the changes of the financial system happening right before our very eyes. And something big just happened um that many people maybe weren't paying

attention to. Of course, that date I'm talking about his February two. It's the day when the United States just told the whole world that they cannot be trusted. The US can't be trusted to hold um reserves, hold savings of other nations. It's the year, it's it's the date when they told Russia that all your savings and US treasuries is just worthless. You can't trade anymore. And so

the world scrambling for something else. Now, like I was saying before the break, that the world has been the nations around the world have been a net buyers of gold over the last couple of years, so they've already been The world has already been seeing this coming, and they've already been transitioning away from dollars and into gold, so they've been buying less treasuries and they've been buying more gold. Um. But the problem is is that even

gold may not be safe. So we have just recently out because of the sanctions on Russia, we have U S senators are now calling to seize gold from Russia. They're saying to put sanctions on their gold. No, I don't know how they plan on seizing Russia's gold. They're gonna go into Russia with the warships and somehow collected and Russia's is gonna give it to him. I don't

know how that how they plan on doing that. Um. But um, they're saying that they could sanction in if they find any other countries that are buying their gold. Things like that, and there's some historical precedents. This is a matter of fact. The UK just seized has recently seized Venezuela's gold. They seized thirty one tons, which is worth about approximately two billion dollars today. Um. So they seized Venezuela's gold and so how do they how do

they seize it? Well, of course Venezuela didn't have it in Venezuela. They had it in the UK, just like when the United States seized Americans gold, it was in the banks and they just took it. And so Venezuela it had their gold in the UK and the UK has decided to take it. So I'm gonna go back to this word again. Trust. Venezuela trusted the system, trusted that their gold would be safe in the UK, and they found out that it's not so. In a world that we have lost trust over and over, we found

that we cannot trust the United States government. We cannot trust the United States banking system. Um We the nations of the world just found out on February twenty six if they cannot trust um US treasuries to hold their savings. In Venezuela found out the hard way that they can't trust the UK to hold their gold for them. U s senators are calling to seize Russia's gold. They can't. Russia can't trust anybody with their gold. So in a

world when there's no trust, what do you do? Well, as I said, all these nations are have been net buyers of gold and net sellers of treasuries. So each nation is holding more and more gold, um, but they're gonna have to hold it on their own. So Russia's gonna have to stir their own goal. And then this way those going to store their own gold, and China has to store their own gold, and uss to store

there's et cetera. Because they can't trust each other with it, right, I mean, you can't trust you can't trust anybod anymore. So they have to cold their own But how how does that work? So now we have to trust that China has the gold they say they have. Russia, we have to trust Russia has the gold they say they have. Now, even if they put like a camera on the gold stack, on palates of gold, like live stream on YouTube, how

do we still trust that? What if we know? How do we know it's not just like tungsten bars that have been painted painted gold. We heard about that happening in China. They had a bunch of fake gold bars that weren't really gold they said they were. So we can't trust China. We can't who can we trust? And even if we could trust them, how would that really work?

I mean it's so big and slow and clunky. I mean, we're gonna we're like one of those um like one of those movies where like there's a drug deal going down. It's like give me the drugs. No, give me the cash. Now give me the drugs, give me the cash, right, And like how do you trust each other? And so how what? What is is a nation going to have to now load up their warship with gold and then transported to another country and hand deliver it. How in

a world with no trust? How does it work? And even if we had the trust, like I said, it's so slow, it's so heavy, it's so clunky. Not only does it take forever, um, it's it's very expensive. Imagine sending you know, tons and tons of gold from one nation to another overseas. Like how much would that cost? It would cost millions, tens of millions of dollars to do that, It would take it would take months to even organize and and and do months and months and

months and millions tens of millions to do that. That's that's not really gonna work. The friction, the friction is too high. So what other system do we have if we can if we can't trust each other, which we can't. The United States has proven it over and over n seventy one twenty two. We've been, We've been. They seized UK sees Venezuela's gold, the US seesed Afghanistan central banks money. I mean, we can't trust them as as a US citizen, I can't trust them as a nation, you can't trust them.

So in a world without trust, like, how, how does it work? How can it work? What other options do we have? I mean, gold is the best option. We can go back to the gold standard, but we can see why it failed for so many reasons. And of course, like I said, in today's internet age, how does it work? How do I pay somebody in Venezuela or Argentina or else Salvador, Nicaragua or Africa over the internet. I have people that work for me all over the all over

the world right now. How do I pay them in gold? I can't. It's not I'm gonna I'm gonna be able to send somebody, you know, a thousand dollars worth of gold like that. This is never gonna happen. So what other options do we have? We don't have any. The world stuck? How do we move forward? Oh wait, there is an idea. How about bitcoin? You see, bitcoin is what we call trust lists. A bitcoin is a network

that I can send my asset peer to peer. It's I hold it, it's in my custody, and when I send it to you, I it goes directly from me to you. Now, the problem with the banking system we have as it goes through all these different banks, all these intermediaries. If I want to send you money on Venmo, it goes from my Venmo to my credit card, from my credit card to my bank, from my bank to your bank, to your bank, to your credit card, to your credit card to Venmo. So from my Venomo to

your Venmo account goes through like six different people. Any one of those six people could see that. Just like the banking system today, they're sanction in Russia because they control the Swift system. They can control the money moving through all those gateways. But you see, bitcoin uses the different technology is peer to peer, meaning when I send you bitcoin, it goes from me to you. There's nobody in the middle that blocks or prevents that from happening,

and so there's trust. There's trust because right now it's or I actually say, it's a trust list. I have to trust the government, I have to trust the bank to hold my gold and not steal it from me, which they've done before. At the trust that they're gonna give me a paper caltificate and not create more of it what they've done that before. But when I when I hold my money in bitcoin, it's trust list. Nobody can create more bitcoin, nobody can seize My bitcoin is

trust lists. And if I want to send it to you, nobody can stop it black and prevented. It's trust less. And when I send it to you in exchange for the goods, then once you have it, it's in your posession. So similar to if I hold if I handed you gold, that's kind of and and like cash right like with cash, Um, if you're gonna do business with a store, you need to trust that store. Is that store going to deliver the goods and products that you buy? You need trust.

I have to trust that store. But um, the store doesn't have to trust me. They don't know me. They don't have to trust me because I give them cash, So I trust them to give me a good product or service. But then they don't trust me because I give them cash. When I hand it over, it's done. And that's kind of what bitcoin does. It's like cash, it's in hand, but unlike cash that can be inflated away or in the bank, can be frozen or seized

because I can't. So it's pretty interesting when you see the world breaking down the way it is right now and what's happened, especially with trust breaking down an all time low, and we're stuck in this system where you can't trust cash, you can't trust treasuries. Um. The only thing you can trust is gold, but only if you hold it in your own hand. But how do I trust that Russia or China or the US has the

gold they say they have? The United States says they have about eight thousand tons of gold, but they've never allowed anyone to audit it, So why wouldn't they allow someone to audit if they really have. It doesn't doesn't inspire a lot of trust, does it. So we can go back to a gold system. That's the best option we have, But really, how does it work? It doesn't work in an age with no trust, and it doesn't

work in an Internet age. So then what I'd like to say, If not bitcoin, then what I'd love to hear. Send me a message on Twitter at one Mark Moss and let me know, if not bitcoin, then what. I'm sure there's plenty of people listening to this. I think bitcoin stupid, it's dumb. You know, you got the Warren Buffet of the world calling it rat poison. Great, tell me what if bitcoin? If not bitcoin, then what? On Twitter? At one Mark Moss, you're listening to the markmas Show.

We're talking about the decentralized revolution. The world is going through the intersection of politics, finance, and technology. Is changing the world as we know it right now. It just happened on February two. The world will never be the same. There's only one option moving forward. In my opinion, I'm pretty bolish on it, but I might have holes in my game. So I feel free to send me a message. And that's what I got for you today. Thanks for listening.