The Mark Moss Show Nov 05, 2021

to have the information that most people don't have. UM. I'm joined by two of my really good friends here today. I got Kyle Wonderley. I got the lovely Jessica van She's back with us again. Always love her insight and her smart wit. One of the smartest and maybe the most beautiful girls online. So it's a lethal combination between the two and my good friend Kyle. We talked about this stuff for hours and hours and offline, and so I thought maybe we would enjoy you guys would enjoy

hearing us talking about it together. So, uh, Kyle Wonderley and Jessica Vom and what's up? I just wanted to correct you for a second. You say we talk. I'm gonna tell everybody that I spend of my time listening with Mark Moss. I don't do as much talking as I do with other people, and and and it's good that way, and I like it that way. We'll keep it. I I'm here to interrupt him and talk over him. So um, I love to have it. So, Uh, Kyle is at super rat Stuff on Twitter. That's underscore, super

Underscore rat Underscore Stuff. Underscore Kyle, you should change that name. It's stupid and it's very hard to pronounce when I have to spell it out for everybody. Uh. And Jessica, she is at Jessica Vaughan. You can find her on Twitter as well. And so you know, we're all avid bitcoiners. We believe that this is a massive opportunity. We kind of eat, sleep, and breathe. It kind of becomes a lifestyle.

I don't want to say a cult, but it does become a lifestyle because it's literally changing the world right before our very eyes. And it's really permanating like every area of society, from the culture to the financial system to the political system. I mean, you name it. It's changing things. And uh, you know, one of the big stories this week is that um, surprise, surprise, surprise, is

the government wants to come get more of your wealth. Um. You know, when we get to a debt crisis like we have today, at the end of a debt cycle, Uh, there's really only four ways out of it. And so one of those ways is the default on the debt, and then I states can't really do that. Uh. Another way to do that is to go in to austerity. That means that they have to go to a budget,

and of course they don't want to do that. The third way is they can raise taxes, but the problem is there's only so much tax as they can raise before there's a revolt. And then the fourth and final way, which is the when they typically use, is to just inflate their way out of it, which of course is also taxation and theft um. And but they've they've kind of got taxes about as high as they can go. But what they've done is now they're going to tax

the rich. That sounds good because we all hate the rich, right, we shouldn't we should we shouldn't be successful. And for the first time ever, let me read you the story here. Democrats proposed tax on unrealized capital gains and it potentially is unconstitutional. Nancy Pelosi and for some reason, we have Janet Yelling from the Treasury coming out talking about how they want to tax unrealized capital gain. So let me explain what this is and then we'll discuss it a

little bit. So basically, um, cap gains are investment income. So I've earned my income, so I've earned income taxes and have cap gains taxes. I've earned my income, and I've had to pay tax on that income. After I've paid taxes, that money is mine because I've given them their their half um and with my half that I get to keep. Thank you for the government. I invest it. And when I invest that, hopefully it goes up in value.

I risk it. If not, it goes down um. But the price of those assets like stocks could go up, and it can go down up and down, up and down. They want to tax my unrealized profits. So I haven't sold it yet, I'm holding it, and they want to take that money from me. So I've already paid tax. I shouldn't have to pay tax again. In my opinion, it goes up hopefully if I'm lucky. I took that risk um, and then they want to tax it, which is just insane to me. And of course at this point,

they're only going to tax the rich. Now, Biden says they wouldn't. They was gonna raise taxes, but it wouldn't raised taxes except for the rich, which was he defined as over four hundred thousand dollars, which isn't that rich. Um, Today they're starting to seem like they want to go after the billionaires. They want to billion villain villain I

is the billionaires? Is this like another form of identity politics, Jessica. Um, Well, they like to go with the whole billionaires, and then it moves to the millionaires, and then it's anybody with a six figure income. So really it's just about how can we get the masses to get behind demonizing a group of people because um, it's it's really just a way to disguise government confiscation of personal property because uh, intrinsically these people don't believe in personal property? Is it?

Because um if it's almost like they're trying to get the people to turn on the rich people, because then it's like not the government so much, it's like the people want it, and then we all forfeit our privacy and the process and nobody thinks about, you know, throwing the baby out with the bathwater on that and how it might negatively consequent ourselves. And it doesn't take government long.

It starts as something that's only designed for you know, the billionaires, and then it of course goes down descents into everyday culture from from there and it doesn't even take a decade. Well they've got eight years until, you know. So I think they're going to aggressively move in on these things and the crowd will cheer it on. And that's what's concerning the crowd. So like the tyranny of

the mob. Right, So like democracy, meaning that they're the majority of democracy, they're they're always going to vote for more of your money if they're given the choice of Right, are the people rallying on the streets? I mean, those are the masses. That's that's the mob, And there's you know, we have a lot of wealth in the in the select hands of a few, So you're right, I don't know, and it's a deterrent to trying to want to get

rich though you know, you have these protections. But when you deviate half of the culture away from the idea of individual liberties and individual rights, and then of course then you bully attorneys and judges and juries where they can't defend the Constitution because um cultures eradicated the ability to just stand for what the Constitution protects individual rights. What once we do that, I mean, what there if there's nobody there to defend it, do we really have

constitutional protections? I like what Kyle said right where it's like it kind of takes away the incentive to to get rich or to make money. And I'd like to try to think about and I think in the context if we think about like the incentive structure, and so I already had to pay tax on the money I earned it, I pay tax on it, and now I have to go risk it. Should I risk it or should I sit on it? Well, if I risk it and they're gonna take my unrealized wealth, maybe I don't

want to risk it. Maybe it's not worth the risk now. And so it changes that incentive structure. And then you know, Charlie Monger says, show me the incentive, show me the outcome, and like, how does that like, how is the outcome going to be different if we shift that incentive structure? Yeah, I mean, and they're doing away with compound interest, really, right, I mean, so I was born with the idea we were I mean, we're we're all basically the same age here.

We you know, the reason that you invest, the reason you start when you're young, the reason you take risks at a young age is because you know your money can compound over time. But this way of you know, taxing unrealized gains just takes away the incentive for even in yeah, for even taking a step toward investing, because you know the max you can make each year is only half of you know, whatever the tax trek is

going to be for your unrolls realized gains. I don't know, but um, it's definitely it's definitely putting a huge damper on on compound interest. Let's look at a real example and see how idiotic this could be, or actually how dangerous this could be. So let's look at bitcoin. Since we're here obviously talking about bitcoin, so most people know that we just this week broke a new all time

high congratulates, which was previously set like in May. But the last all time high was in December eighteenth of two thousand seventeen, and it reached a peak of about twenty tho dollars. So that's the end of the tax. Here December seventeen, it was it was twenty dollars, and so the tax your closes and now that's unrealized. I haven't sold it, but I have to pay tax on that. And then over the next couple of months bitcoin dropped down to three thousand dollars by by uh, you know,

throughout December. Team. So when the next tax bills do instead of I'm paying tax on twenty which I never realized, and now the assets only worth three thousand, and I have to pay tax on the twenty tho, Like, how does that work? This administration wants to disincentivize savings because innately their um their economic position. Their theory is is that if if you are storing the wealth and you're not putting it back into the economy, which is you know,

that's what they attribute their not being enough economic activity. Yeah, alright, so we're gonna talk more about how insane this policy is, but we want to transition this to actually talk about how we can protect ourselves from this. But even more than just protecting ourselves from this, as I was kind of hinting to before changing the incentive structure, because if we changing the CenTra structure, we totally change the outcome. We're gonna talk about that. We're gonna talk about more

when we come back. You're listening to the Mark mo Show. We're talking about bitcoin, cryptocurrencies in the Decentralized Revolution, and we will be right back. All right, welcome back. You were listening to Mark Moss Show. We're talking about bitcoin and cryptocurrencies and the decentralized Revolution, bringing you the information you need each and every week to navigate this correctly. It is going to be the largest opportunity you'll ever have in your life. I'm joined in the studio by

two of my really good friends. Of course, I got the lovely Jessica van who's back with us again. Find her on Twitter at Jessica Vaughan. And I got Kyle Wonderley, who has this really long, weird Twitter name that I it's just too long to say. It's a super rad stuff with some underscores, and their Kyle changed that next time. What would be just as hard to say my name Kyle Wonderley. That nobody ever gets the spelling right on that either, So can you spell super rad stuff? That's

what it is? You should just you should just be Kyle Wonder. Okay, yeah, but but then they're gonna spell it w O N d e R and that would be a disgrace to my last name, which is w U N D yes. Anyway, So before we took a break, we were talking about how the FED wants to tax or that actually say the I R s once the tax are unrealized capital gains and how crazy that is. I gave this just a quicker story is like, let's say your house is worth two hundred dollars, the Fed

prints a lot of money. Your house is now worth four hundred thousand dollars, So you have two thousand of unrealized gains because you wouldn't realize that. Tell you sell the house, right, but guess what, you don't have that kind of cash to cover that. So I guess what? Blackrock buys your house at auction for pennies on the dollar and now you're renting the house. Um, it's one

possible scenario. And just you kind of illustate how hassanine this type of a policy is you are taking more loans out right just to pay your taxes, taking an equity line out of your house to pay the taxes on it. Well, it's an it's an attack on generational wealth because they feel like that contributes to some sort of like inequality in America, so they want to eradicate that.

And do we know anything more about this policy other than the fact that they want to tax unreal unrealized gains or do the Is it going to be like a quarterly or an annual thing? Do we know any details? Yeah, we don't. We don't know a lot right now from what I heard. I mean, they talked. They said they said, first of all, it would be on liquid assets, so I don't think a house would really apply. Um, so it's gonna be on liquid assets, so I think it

would be on stocks. I think cryptocurrencies are going to be a big piece that they're gonna want to come after that. Do you think that this coming policy is one reason why they're behind bitcoin being an asset and not a monetary system. Yeah, So technically bitcoin is an asset. It's a commodity as opposed to a financial instrument, which wouldn't be so in an el savador for example. Um, it's a currency, so there's not a taxable exchange when

you use it, but here it is. Um. You know, we'll see how this shakes out there is Uh, there's aready there's already lawsuits that are being filed, right. They want to they want to fight this. They say it's unconstitutional. Um,

So we'll see where that shakes out. Um. But I think kind of like we were talking about before the break, if they can demon demons or vilify these rich people and get them to get the sentiment to move against them through a through a democracy of of tyranny of the minority, right, Uh, then if they can do that, they could probably win. And at least in the public court of opinion. That's the message they're sending, even if it doesn't get approved. You know, the message is out

there now. That's that's the direction they're headed. Is an executive order, so fun they don't even need to have, um, you know, the approval of the mom Uh. Yeah. Well, and there's even more coming, which uh I know Kyle and Jesco was kind of talking about with both of you offline, which maybe we can dip into it a a little bit. I want to which is a Biden and Jen Psaki and being the mouthpiece for Biden's talking about

a fundamental change to the economy. And I'm saying, if you could watch me here on the on the radio, I know you can't, but I'm putting up air quotes a fundamental change to the economy. Now where have we heard the fundamental change? Where where did that first come in? Well, if you have a good memory, or if you're old enough to remember, that was two thousand twelve, our good old buddy Obama came in and promised on his campaign trial that he would fundamentally change America. Now what does

that mean? Fundamentally change the foundation as in the culture, the values, the principles, everything. And so now we're hearing the vice president, who would be a quote transitional candidate to come yeah. Yeah, And so they're talking about a fundamental change the economy and uh, basically what we have. And so we've seen Jen Psaki saying this. I have this video clip. I can't play it obviously here we're on video, but I'm gonna read a quote the press.

This is Jen Ssaki talking at a White House pressor. The President wants to make fundamental change in our economy and he feels, coming out of the pandemic is exactly the time to do that. Oh what what's that about. Don't let a crisis go to waste? Right, Yeah, well now that the moral high ground to just do whatever they want with no accountability. So yeah, yeah, and they've got mass they've got mass compliance. Kick us while we're down, you know. Uh, we're all freaked out to travel right

right now, We're all freaked out to go anywhere. Social distancing, I mean, there's so much fear in the market right now. Now is the time. Yeah, there was ever a time to do it, be now. You know. So you've heard this talk about this fed coin, a central bank digital currency coming UM and uh, the head of the o c C, the Office of the Compatroller, the one that runs the currency UM used to be pushing this forward. And now President Biden gets to elect a new one,

and he's nominated somebody to come take over that position. UM. A lady, a wonderful lady who's an actual communist, a self proclaimed radical UM professor Salamarova. And when I say an actual communist, I don't mean that as in like cardcare and communists. I mean actually graduated from Soviet Union's Moscow State University in nine and was on the lenin Personal Academic scholarship. I mean an actual UM, I mean

an actual communist. She she praised the USSRS economic system as quote some ways superior to our own, and she said, quote the market doesn't always know best. So I guess a couple of guys in in bureaucracy do. And she's proposed something that has a relationship to bitcoin that I think that everybody needs to know about UM and it's part of the fundamental change to the economy and to the banking system and to the FED poin you guys

heard about this, do you guys know what I'm teasing? Dude, you've been telling me about the CBDC since that's the first I've heard about it was you know, you sounded like a conspiracy theorist about five years ago, and now here we are reading it in the mainstream news. So scary. It's all a conspiracy until Ustart's going through. That was

before the intentional assassination of the US dollars. So I feel like they're paving the pathway to get to their fed coin for people to, you know, because what if we all go to the banks and try to pull out our cash all at once, all these things, like what are they gonna do. They're gonna come rescue us with a fed coin, because that's what they're trying to

get us too. Anyway. Yeah, so what's interesting about that, UM is well, they're actually they're proposing something that pushes the central bank digital currency and could actually eliminate something like exactly what Jessica just proposed. I want to tell you about that as soon as we get back, because this is big news. I think it's big for bitcoin especially, but it's also important because if you care about your wealth, you need to know. But uh, they want to they

want to eliminate that possibility of happening. I've often been saying, and actually we saw do you guys remember when the U during the election. Every time every time Obama Obama's election cycle pops up, we see the rise of BLM. And BLM was saying that, hey, a better revolution, a better protest, would be to go pull your money out

of the bank. And I've often saying, I mean, there's millions of people marching all around the world right now, this very second today, and would be more important than going out and marching would be just go pull your money out of the bank. But they want to stop that from happening. I want to talk about what they're trying to do, what she is specifically doing. I I have a quote from her that I'm gonna read that's gonna shock you. I'm gonna say this quote. It's gonna

shock you as soon as I get back. You're listening to the Mark Mo Show. We're talking about bitcoin, cryptocurrencies, the decentralized revolution, and what the government's doing to try to push adoption. I'll be right back, all right, everyone, welcome back. You are listening to the Mark Mo Show, and we're talking about bitcoin, cryptocurrencies and the decentralized revolution.

And I aways say it all the time, and I'm sorry if you hear it all the time, but this is the biggest opportunity that you'll ever have in your life. Do not miss it. Tune in each and every week so you can get the information you need to take advantage of this. I am in the studio with two of my really good friends right now, Kyle Wonderley and Jessica Van. You can find Jessica and on Twitter at Jessica Vaughan. And of course Kyle is uh something really

long and hard to say. Red stuff with super red stuff with underscores in between the words and and of course I am one Mark Moss. Just the number one Mark Moss. Send us a message, say you heard us on the radio. We are talking about Biden's new UM pick for the controller of the currency. She's a literal communist, meaning she's actually from Russia, She's not from the United States. Um And she said that the U S s rs, the U S s are the communist Russia. Their economy

was better than ours America. And in her own words, I'm gonna give you a quote here. The core idea this is a quote. The core idea here is allow a US citizens and lawful residents, local governments, not making firms, etcetera, to open transactional accounts directly with the Federal Reserve. What wait, citizens open banks directly with the federal Reserve. Let me let me continue thus bypassing private depository institutions. So she's talking about an eliminating banks as we know it. Let

me go on. She said. This is a variation on the familiar FED accounts or the FED coin or the digital wall digital dollar wallets. FED accounts can be made available as an alternative to bank deposit accounts. So what she's saying is well, in her own words, by passing private depository institutions. So basically, the Federal Reserve gives deposits to the banks, the bank's loan money into existence. She wants to eliminate that, and we would have deposits directly

with the Federal Reserve. And so, as I think Jessica was talking about earlier, we could just go pull our money out of the banks. But if we don't actually have money to pull out the banks, we literally just have a credit, a digital credit on the Federal Reserves ledger. They just block your chap. I mean, it's just a credit. What are you gonna do? Are you gonna put your

money out of the bank? Yes, yeah, that's why, uh you know, And I bought bitcoin to have a um to participate in a parallel economy that I think is going to develop as more and more people are removed from the financial in the financial um, the banking system, I suppose, you know. And there's a lot of people like that in the world already that are unbanked. So bitcoin provides an opportunity to uh not play these people's games when it's innately goes against my morals. Patro dollar

goes against my morals and beliefs. Yeah. I guess if I can just interject one thing that I'm seeing as a positive here, I mean it's not. It's not never positive to have so much oversight over all of your transactions, and you know, to have the federal government know exactly how much you have and what you're spending your money on. But I kind of feel that right now anyway you have your money at Wells Fargo Bank of American Bank, then you have you have all that anyway, right, so

it's just a different set of eyeballs. I guess if you're going to remove the middleman, you're going to remove the banks, the commercial banks, and you go straight to the Fed, then I guess the only positive takeaway that I have from that is then you don't have the mass you know, tend to one leverage every dollar that a bank has on deposit and lend out ten or twenty. I don't even know what the ratio is, but it's at least ten, right, So you have this these uh,

it's inflationary. That system is inflationary. When you say it's kind of like what we have right now, do you mean a sense where you can go to the bank and the bank and say no, you can't withdraw your money. Is that what you mean? No, I'm saying, okay, I go to the bank. The bank. The bank has one dollar on reserve for every ten dollars that can lend out, Right, that is done away with. It sounds like if you cut out the banks and go straight to the FED.

We've already carried that out to the farthest degree that it can be, which is why they talk about wanting, you know, the financial reset. I'm confused as to what the FEDS motivation would be too. I mean, it sounds like some sort of providing an alternative to people using traditional banking. What would the FEDS incentive be for that, you know, because they're a separate institution. They're not a for profit they're not assari provider to the people there.

Well they want to be, they are. Well, that's strange to me because, um, you know, they're basically just the privatized financial department of the government, so that we as the people could never audit the FED. That seems to be the purpose of it being an independent body. So what could they get out of trying to then? Now, engage in the commercial market. Well, what they want to do is that so in times of need, like in the pandemic of last year, the FED really can't put

money out into the economy. So we talk about printing money, The FED can't really print money. What the FED can do is they can give reserves to the banks, and then when the banks lend that money out, it creates that turns that money into existence. And so they give the bank's money through que and they give them reserves, but then the banks don't lend it out, so no

money actually gets into the economy. And so um, Well that's also because the banks pick and choose who they you know, people that are high risk of it are you know, essentially um unbanked now they're too high risk, they don't want to but so that goes against government's idea of wealth redistribution that this particular agenda, um, this

administration is after. But what they want to do is if you have a bank, if you Jessica Kyle had a bank account directly with the FED, the FED could just click a button and put money directly into your account, which they can't do right now by going through the banking system. Because commercial banks pick and choose who they'll lend to, right exactly, and well, and there's and there's the legal me there's no legal mechanism or pathway for

them to do that. The other thing that it does is we're on this trend of centralization obviously, right we're trying to get rid of all the mom and pop we're trying to get rid of all the options and has centralized everything. So um, right now, banking is still a little bit decentralized where I can go to my local farmers or merchants or my local bank and say, hey, I want this loan, and because he knows me locally, knows my local ERAa, he has local information. He could

give me a loan or not. That's local, that's essentialized information. They want the FED to be the only one to make the decision who gets money and who doesn't, so they compress the stack, just like they're getting rid of mom and pop retailers to go to Walmart kind of a thing. Well, I'd essentially be in favor of of doing something that provides market competition because there is so many unbanked, unbanked people that that need, you know, loans

to buy homes. All these things. I just don't understand the FED doing that because obviously they're they're trying to put home ownership in some sort of government control, you know, using black rock as a way to control the housing market and get get more private ownership out of single family home ownership. So I'd be all for it if it if it actually gave um lesser financially prepared young

people and opportunity to get the loans they need. But because government is never there's never the altruism in play, It's not ever really a good thing. So I'm concerned about it in that way. Yeah, it's like, this makes me think about what the true motive is for the FED doing this. It's uh, you know, they're gonna do it under the guys of making things more efficient. We're gonna make it easier for for us to give you stimulus, to give you P P P to get every every

stimulus has to go through the banks. They want to cut out the middleman. But what's the what's the real motive, what's the real driver, the the real benefit to the Fed? Dude, That's what's scary. The real benefit is not about yes, now they can turn you off, y. Yeah, now they turn you off whenever they want to. You want, you want your freedom, you want to go to another country,

we turn you off. And so yeah, so let's talk about bitcoin, because that's why I'm in bitcoin too, Like, that's that's why I'm out, you know, to what two years ago, let's just less than two years ago. I went out of the banks because I saw the writing on the wall and the only reason I have to keep that account is to pay my freaking mortgage. I can't wait. Tell there's a way for me to pay

my mortgage with bitcoin. So talking about bitcoin, I want to transition a little bit um, you know, just just just one thing I want to add though, why would they want to take control of that? Well, currency and lending are the engines of capitalism. Currency and lending are the engines, and so they want to take control of the engine, decide which projects get money which projects don't. It's total control, right, It's a communist thing. But what I want to come back and I want to talk

about is is this bad for bitcoin? Uh? Does central bank digital currencies take away the need for bitcoin? Or does it only push bitcoin adoption further? So I want to talk about that. When we get back. UM, I think a lot of people actually think that central make digital currencies could be bad for bitcoin, which it could. Maybe maybe there's no way that you can transfer your central maink digital currency to Bitcoin, so maybe that's the case, or maybe it pushes the need. We'll talk about that

when we get back. Um, you are listening to the Mark Moss Show. Um, in my in the studio with my good friends Kyle Wonderley and Jessica Vaughan at Jessica Vaughan and at super Rad Kyle stuff stuff at super Ad Stuff. Sorry about that. You're listening to Mark Mos Show. We're gonna be right back talking about the coming central bank digital currency and whether it's good or bad for bitcoin. We'll be right back. Hey everyone, welcome back. You are listening to the Mark Mos Show and we are talking

about bitcoin, cryptocurrencies, the decentralized revolution. This is something you don't want to be missing. You need to tune in each and every week, So pull out your phone, put a reminder for this station, this time, this channel. Of course, if you ever missed me, you missed part of me. You want to hear more of me. Check it out

on the iHeart Podcast. Network. I'm in the studio studio with my two good friends, Kyle Wonderley and Jessica Vaughan, and we are talking about a fundamental change to the economy, a takeover of the banking literally collapsing the entire banking stack. Biden's nomination for the new head of the currency wants to do a Soviet style takeover. She's a little literal literal communist. I mean she's from Russia, literally miss Almarova,

and she wants to fundamentally change it. And she says that they want to roll out a central bank digital currency, so we have to pausits directly with the FED, and then there's no more banks, there's no decentralization in the banking. And I posed the question before we came went to break and I want to find out from Kyle and Jessica. Is going to a central bank digital currency where the FED controls what you can and can't buy, UH controls everything,

UM controls the engines of capitalism. Is that good or is that bad? For Bitcoin? Well, one one thing that you mentioned that I hadn't even thought of until you just said it was the ability that they may have to stop you from buying certain things. And my whole opt out of this system is bitcoin. I've got to

have to be ability to buy bitcoin. So that would be my biggest fear is, Okay, they could they know how much money you have, and they're gonna also be able to say what you can spend your money on and what you can't, so if we can't, So that would be a fear for any bitcoiner is thinking that the government could have so much control that they can say, well, you can't spend this money that everybody else believes in on your bitcoin. Yikes, you stunder with that one. She

for the first time I've ever seen her speechless on that. Yeah, maybe maybe we'll just have to go to live in El Salvador, because I know they're not gonna do They're not gonna deal with the CBDC and maybe obviously you

know you have to be stacking your SATs now. Yeah, I don't think I was in my mind exploring the idea that perhaps um, the government was just is just writing piggyback off um what the free market did with creating crypto, and they're just using it as like a beta test to see um work out any problems with coming fed coin. That might be an interesting consideration as to why they're tolerant of crypto right now and they're happy.

I remember like that you still feel free if you have a way to feel like you can save yourself with your own financial decisions, and they don't want any like, you know, kinetic problems with people right now. Right. So if you feel like you're not, if you you don't, you stop being When you stop feeling free is when they you know, statistically know that problems have civil wars come from that type of thing. I think about it, like, um, I think about it again. I always try to kind

of go back to the incentives. So when the president starts talking about banning guns, guns cells skyrocket right. Smith and Wesson stock went up faster than a cryptocurrency is like a thousand percent up this year right or last year. Um. And so when the government says, hey, don't do drugs, well, it doesn't really make you want to go do them. Um. But when they say, hey, you don't have a right to store your wealth in a way that we can't caese or steal from you, that kind of makes me

want to go do that. And so I think, um, it definitely changes the incentive structure which makes me want to go into that currency better are faster. I think back to the kind of the point Kyle you were

hitting on. They could prohibit me because it's programmable money, where they could actually prohibit me from transferring to coin base to buy bitcoin, right, they could say nope, that that transaction is blocked, but they couldn't prevent me from buying something else that then I could trade for bitcoin, right, And so there's always gonna be a way. They're always gonna love Ship, They're always gonna love doach coin and Ship, and they're always gonna love whatever cells on coin Base

if you want to go into that. You like we were talking this morning, why are these meme coins getting so much love from coin base? D gen gamblers, coin based profits off of the production. Of course that's why. Yeah, and the taxman loves coin Base, and the and the Taxman loves uh. You know, a bunch of dumb people buying meme coins that don't have any value, utility, or anything because they're the easiest people to get the Money

Act from. I think. Look, I think the reason that they said we don't have any intention on banning bitcoin and crypto that use crypto in the same sentence. I think that gave you know, the all coins some massive attention and you have a lot. Ever since, the meme coins have been taking off again and the government is looking for ways, they're looking for sources of revenue. We've

got to pay the pandemic. That you got to pay this pandemic off somehow, and I let all the let let all the all coins pump and then yeah, we'll just taxi unrealized gains. That's right, that's it. That's that's what I think it. That's what I think it is. So I feel bad. I've been warning all my friends don't buy from coin base. You know, anything that get lits gets listed on coin based pumps, because that's the

easiest way for the government to get your information. Coin bast coin Base has always been in bed with the regulators. They don't want you to have hedges against inflation to protect yourself. They want you to feel it because it's about um us all being on our knees so that we can forfeit more privacy, so that government can get bigger,

because that's what all these policies are designed to do. Yeah, you don't want to talk about all coins, well, I think a lot of it comes from the government's unintended consequences. It's something called the cobra effect. I don't know, you guys familiar with the cobra effect, Yeah, only from you.

But the super short version of the cobra effect is in India, they had a bunch of cobras, and cobras the dead they obviously, so the government said, hey, we'll pay everyone to go kill a cobra if you bring it in and we'll pay you. So people would and kill the cobras and they brought him and they got paid. But some people were like, well, shoot, I'll just raise cobras. I can raise a whole bunch and I'll just start bringing them in. And everyone was raising cobras to sell

the government. The government's like, what the heck Now people are raising them, like, we're done with this, like in the program and all the people that are raising the cobras that all these covers, they just let them all go, and then they had more covers than they started the program with. Uh. So it's like these unintended consequences and I think like the government is trying to protect people from investing like go to your point car, like go buy as many Lar tickets you want to go gamble

as much as you want. But how dare you buy an early round in uber or something? Right? Uh, so that's only for credit investors. Once it gets to the public market, they can dump on everybody else. And I think people are so desperate to get in something early that these Chibu new coins give them that opportunity. And so it's the unintended consequence of the government trying to protect people only hurts them even more. Probably it's not that all coins are are destructive, it's just not at all.

It's a distraction for people to um deviate from the value, the social value that bitcoin provides. That's my only problem without all coins is because I'm here for a financial revolution, So I don't innately care that people want to go do casino stuff or have have fun. Cryptos just fun because it's another game. Then I don't really care. I mean, we haven't like it's taking so many trillions of dollars out of the US dollars that were collapsing or something.

Yes to each his own, Like, I'm not gonna hate on the gamblers. There's a reason, there's that people aren't going to Vegas right now. Vegas is terrible. You're gonna sit there with a mask on and play rolette or play cards without a mask on. You can't read people's faces right now in Vegas. People are going to Vegas and they're not wearing masks in the casino. Yeah, as well,

that's why. That's also why we've got you know, all the degenerate gamblers went online and they went to coin base and they went might have been a consequence of them getting locked in their homes that they did that,

and they have nothing better to do. But the government wants to push us towards a digital economy, so they're quite fine with whatever you make it doesn't involve creating physical things, you know, that's what the whole the whole problem with them, the supply chain getting broken on purpose, all these things. They would rather you funnel all your effort and energy and finances into a digital economy. I think it's also a continuation of the Fiat money system.

So the Fiat money system incentivizes Fiat money is a system of theft, lies and deceit, and in incentivizes that. And so we're continuing to see the effects of Fiat money. We're seeing Fiat food. They're taking shortcuts in our food, putting food additives and giving us worse quality of food. And everybody's looking for a shortcut in today instead of building value, providing valuable goods and service. I'll just go gamble, right, everybody's looking for that shortcut. And I think that's just

a continuation. It kind of symbolizes where we're at as an economy. That's the entire of the market. Yeah, it's a it's a it's a combination of the stock market. But we have to wrap this thing up. We're talking about bitcoin, cryptocurrencies and the decentralized revolution. You listen to the Mark Moss Show. Um, we're here every week bringing you the most up to the information. Put this on your calendar. If you miss some of this, find it

on the I Heart Radio podcast network. UM. I'm in the studio with my good friends Jessica Vaughan and Kyle Wonderley at Jessica Van at super Rad Stuff, and I'm Mark Moss and I'll see you next week.