The Mark Moss Show Nov 25, 2022

has it been a busy week. Now, I try to bring to you, you know, some educations you can really understand these things that are going on and look at them from different perspectives, some of the latest breaking news to keep you up to data on what's going on, and of course some interesting guests so you can hear different perspectives than just mine, although you know mine is the only perspective you need, but you know, bring some

other perspectives for you here and there. I want to break down some of the latest breaking news that's been going on this week, because, like I said, there is a lot going on in this world and when we look at it, like I said, I'd like to look at the intersection of politics, finance and technology where those three come together, and we can see that there is

a lot of things coming together. As a matter of fact, we can see um this week, we are getting closer to the c B d C. As we've been talking about for a long time of course, I'm talking about central bank digital currencies, which they're not really what they seem like at first glance. Um they are. You know, we already do digital transactions right about of all transactions

are digital. But central bank digital currencies are much much different form for any number of reasons, one of which is of course that it's programmable money, So not only can they see what you do or freezerr bank counts, they can actually program it in advance what you're able to do with your money. So you eat too much red meat, you can't buy red meat. You don't save enough money will pay you good interest rates. You save

too much money will hit you with a negative interest rate. Um, you, nothing good happens after midnight, so you can't spend your money after midnight. You know all those types of things. Oh you said mean things on the internet will hit you know, well, you can't spend your money either, things

like that. And around the world we see that we're getting increasingly closer to central bank digital currencies, and in the United States is a very key issue for any number of reasons, one of which is that central banks, the Federal Reserve of the United States doesn't actually create money. The Federal Reserve when we talked about all the time like printing money, and you know, it's it's it's a good way to talk about it, but it's not really true.

And so central banks create reserves and they give them to commercial banks think JP, Morgan City Bank, Bank of America, Wells, Fargo, et cetera. And so they give these reserves to the banks, and the banks create money. So actually the banks, the commercial banks, are the ones that create the money, and they do that through loans. So when they give you a loan for a house, of car, boat, whatever, that

money is created into existence. And the other thing is that only the government has the ability to make money, not the federal reserve. Remember the Federal Reserve doesn't do it. The Federal Reserve gives it to the banks. And so if we had a central bank digital currency, and that would mean the central bank would be the one issuing money, but that's not the way our system works, and so

there's all types of legal problems around this. Of course, you might understand that a lot of people don't like it. I don't like it. You certainly shouldn't like it. So we should definitely push back and fight against that There's also lots of lawmakers who don't like it because again, the government is the one supposed to have the rules over creating money, not the central bank, so it takes

power away from the government. Also, the commercial banks don't like it because the commercial banks are the ones that are supposed to create the money, not the Federal Reserve. So, as you can see, this is a big change the way things work in the United States. Now. China has already rolled out their central bank digital currency, which of course makes sense because it's communist China, right. President ge basically runs the country by iron fist. But this is

America supposed to work a different way. However, doesn't seem like it's going to be stopping what they're trying to do. As a matter of fact, we can see this week it says banking heavyweights commence wholesale digital dollar pilot with the New York Fed. So the way the Federals works

is it's a it's a group of banks. The New York Fed is arguably the most important bank of all the banks in the FOTEOL Reserve, and it says here that a group of major major banks have commenced a pilot project alongside the FOTOL Reserve Bank of New York to test the feasibility of using tokens representing digital dollars

to improve how central bank money is settled between institutions. Now, you know, there's such a thing as you know, the um slippery slope, right, I get the boiling pot that the frog that boiled in the pot or whatever where like, you know, let's just ease into it a little bit, and you know, let's just a little bit of a test, and nobody's really gonna object to this. And then before you know it, like you're a frog and you're literally in a boiling pot of water and you're dying, right,

and so that's kind of what this is. Let's just test it right now. And right now it's just gonna be between banks. So it's not for the public. It doesn't, it doesn't, it doesn't really um, you know, it doesn't they violate any of those issues like I talked about, where you know, the government can make the money and it doesn't doesn't really take away the commercial banks ability to create money, because this is just for the Federal

Reserve and this is between banks. Let's start there. Let's get them using that let's test it out, Let's see how it works. Let's let's get the let's get the public used to this idea. Let's warm them up in the pot. That's what it seems like it's going on. So we can see your city Bank, HSBC B and y Melon and Wells Fargo were among the banks taking part. But here's the crazy part. Along with so the banks City, HSBC B and y Melon and Wells Fargo, along with

payments Giant master Card. But that's interesting because MasterCard is not a bank. MasterCard doesn't send money back and forth between banks, so that's pretty interesting. Um. It says here that it's a twelve week proof of concept pilot that will explore the use of an interoperable platform known as the Regulated Ability Network or r l N, where banks can issue tokens which are settled through simulated Central Bank money on a distributed ledger. The project will be conducted

in a test environment using only simulated data. So it's a twelve week project and right now it's just a test, it's just simulated data. But why would they be testing it if they didn't want to roll it out? I mean, there was just no reason to create it or test

it if you didn't want to use it. So, look, we know where this is going, right, We know this was going and says well, the majority of central banks are exploring the development of retail central bank digital currencies or CBDCs, forms of digital money for use by the public. Many are also engaged in pilots around wholesale CBDCs fee money in token form for exchange among financial institutions to improve existing clearing and settlement processes. So now we're just

testing it and we'll see where it goes. But we know where that goes, and you need to be aware of the US. Now, in bigger news, we've been talking about the collapse of f t X melting down and it looks like it's have massive contagion. We see coin Base, which is a publicly traded company a cryptocurrency exchange, is taking a massive hit. Looks like Wall Street is going

sour on it. The stock is down about forty below it's capitalized price, which is looking pretty far at the bond so if you look at the debt market, we can see that the price of coin based three point three seven five bond due is crashing down. And part of that reason is because if we look at the forward guidance of what we think coin Base can do as a company. So I've been talking about some of these regulations that could be coming in the crypto industry.

If you've missed any of that, go check out the previous segments of the Markmas Show on your favorite podcast player or catch me on YouTube. But if the government really cracks down on regulations, then a company like coin base might have a problem because a company like coin base makes its profits off of you trading these cryptocurrencies.

But if these cryptoqurencies are regulated as securities and most of them go away, and then let's a coin Base has to file as a securities platform and then probably pay fines for all of the securities unregistered securities they've been pedaling so far. That could have a massive hit to coin basis books and then severely crimp the ability to make money moving forward. At least I think now. Right now it's at about discount to where the capitalization

should be. But I don't know if that's enough. We don't know the impact of if the regulations will be passed through, and if the regulations are passed through, how much will that affect both their cash positions as well as their ability to make money in the moving forward. But the markets are responding at least in this assessment here where bonds traded with the yield of around four

or more. If you're just tuning and you're listening to the markma Show, we're talking kind about the decentralized revolution, breaking some of the latest breaking news of the week, so you can stay up to date, so you can sound like you know the smartest part, smartest person. That's your cocktail party this weekend. Um, just by tuning in and listening to me as I catch you up on all the big news. I got a lot more to discover to discuss when I come back, including with the economy,

the education system, the political realm and more. I'll be back with all that and more in a minute. You do not want to miss what I have coming up next, so don't go away, all right, Welcome back. If you just tune in you're listening to the Mark Moss Show, we're talking about some of the biggest breaking news in the world in the realm of politics, finance, and technology

are really the intersection of those things. As we witness the world swinging from centralization to decentralization, and I spent quite a bit of time on my other podcast segments talking about the crash of f t X and what that means for the greater um cryptocurrency market and financial market overall. I'm not gonna re act everything that I've been through, but I do want to rehash some of it, which is that a couple of things. Is one, you need to be aware that there is still probably quite

a bit of contagion that could spread from here. So if you're in the cryptocurrency space at all, don't think that the worst is over. I think the worst might still be to come. Now. I don't know this for sure, but what happens is the smaller players go down first, and then it takes the bigger players, the bigger players, the bigger players, and so forth. And f t X is the second largest cryptocurrency exchange, but there's even bigger players or other similarly big players that are not exchanges,

but they're in the mix. And so one of those is cryptocurrency lender Genesis, and Genesis is a company that's kind of behind the scenes and they work with all these companies um taking custody of their funds, holding them for them and providing liquidity by doing loans and things like that. And what we saw this week is that crypto lender Genesis had to suspend with draws after the ft X collapse. Because what happens is all of these

people have um contagion. Right, they're all interrelated. They all have money here, money there, and so when they lose a big chunk of money here, that creates a problem over there. And the demise of f t X created an unprecedented turmoil for Genesis, says this article in the Wall Street Journal, causing the company's lending arm to be

unable to meet their withdrawal request. Because what happens is it's called a bank run because it typically happens with banks, and now we're seeing it happen in the cryptocurrency space. But if you have money at a bank and then all of a sudden you doubt their ability to pay you that money back, you might want to go get your money out before they run out, right. You want to go before everybody else shows up to get their money. You want to make sure you get your money before

they go out. And the same thing happens with these cryptocurrency markets is that people all of a sudden lose trust, They lose faith in their ability to get their money out, and so they say, hey, I want to be the first one to get my money out. And that's exactly what started happening with Genesis, is that so many people I wanted to get money out that they weren't able to meet all their withdrawal requests because no bank, I hate to break it to you, JP, Borgan or Wells Fargo,

they don't have all your money in the bank. As a matter of fact, Go to your bank and try to pull out five thousand dollars of cash and see what that's like. I've done it many times. My bank tells me that I need to request the cash in advance because they just don't keep that much. And so um same thing happens with Genesis. You know, they don't have all that money sitting in cash. They have it in other assets, and so when a lot of people come to request it at the same time, they just

don't have that laying around. They have to liquidate other positions and it takes time. And so they said that it's they told clients that it was suspending redemptions and new loan originations following the collapse of Exchange f t x um. It says that the trauma for Genesis caused the company's lending arm to be unable to meet all withdrawal requests, the company told clients. On a Wednesday call, the company said it would delivery plan next week for

its lending business. So we don't know what's going to happen with that, but it's a big problem. Genesis had two point eight billion in active loans outstanding at the end of September. And who did they have those loans with? And this is what I'm talking about, contagion. Who were those loans with? Are those loans good? Can they collect on that? If they can't get that money, then what about the money that they owe back to other people.

It all starts getting very, very very dirty. Now, Genesis was the one providing yield to Gemini, So if you have money with Gemini and you were using their earned product, you might have a problem there. Gemini says it's partners with borrowers who are vetted through our risk management framework which review our partners collateralization management process. So Gemini says they do good due diligence. Everybody does. The problem is when you start seeing a run on the banks and

you see asset prices uh falling. All that collateral that you thought you had that was good all of a sudden doesn't turn out to be good. Now Gemini is potentially going to be in trouble from from this, and we don't know who else is. We saw another crypto lender called Salt had to pause all their withdraws on Tuesday, saying that the collapse of FTX had impacted their business.

So I would just go out on a limb and I would just tell you that any crypto company that has any type of lending or borrowing or yield products is probably going to be caught up in this mix, does it Now? Does that mean they're gonna go out of business and not return your funds? No, it doesn't. But it's definitely a risk. And I don't know how to quantify that risk and neither do you. And so I would think about that any time you give your money to somebody else, there's a chance you don't get

that money back. Now, some it is more of a ski than others. If you go find a homeless person on the street and give them their money, there's probably a very good chance you don't get that money back. There's a very high risk of that. If you give it to a f d I C insured in bank, the risk is very low, but there's still a risk, all right, and you're gonna get compensated for that risk,

or you should be compensated for that risk. The problem that I have with these cryptocurrency products is that there's no way to quantify that risk. And so if I can't quantify that risk, if I don't know if it's four percent risk or eight percent risk or se risk, then I probably shouldn't be using those And so most people are starting to wake up to this, which is why they're going to get their money off of the exchanges, just like people would go and make a run on

the bank and get their money of the bank. And so I would recommend to you, if you have any cryptocurrency on any exchange, pull it off. And why wouldn't you. The whole point of bitcoin or crypto is that I can custody those assets on my own. Now, if I wanted to store my money in cash, I have to put it under a mattress or put it in a safe fighting in gold, and have to go bury it

in the dirt somewhere, build up a safe. If I had a lot of goal to have to build up a vault, and I'd have to hire security for it, but bitcoin doesn't require that. Bitcoin requires just a cryptographic security key. I recommend using something called cold storage, So you could use a hardware wallet like a treads or t R e z o R Treaser or a ledger. Those are hardware walls, like a little guess b drive. UM. I would recommend that you can also use like an

app on your phone or in a computer. I don't recommend those as much, but you can do that for ease of use. But pull it off of the exchange. Why do you have it there to earn four percent? Is that four percent worth the risk of losing it all? I would say certainly not. Now this is going to cause even more run on the bank and more people are gonna go pull it out. It's gonna cause even

more problems. But you don't want to be the last person trying to get your money off and find out that you can't get it off the exchange, so you go pull it off. With Genesis going down, this is going to cause a problem with all of these companies who didn't think they had problems. And like I said, specifically, if your exchange like Gemini, offers a yield product, a lending product or borrowing product, just consider they have exposure. Now again, it could be a little exposure like Gemini

and they could eat it. No big deal, could be a lot of explosion, could take it down. We don't know. But why take the risk for four for six? I would say certainly not. If you're just tune in, you're listening to the Mark Moa show. We're talking about, you know, the decentralized revolution. We're talking about the financial industry being shaken up. It's crazy time right now. Now is the time to air on the side of caution, trying to alert to you the problems that are happening through the

realm of politics, finance, and technology. I have a lot more to cover. I want to break into some stuff on the economy, what's gonna happen to you over Thanksgiving um and your travel. We'll talk about the education system, politics and more. You don't want to miss what I have mean up next. Don't go away. I'm gonna be right back after a short break. All right, welcome back. If you're just tune in, you're listening to the Mark

Ma Show. We're talking about the decentralized revolution, the way the world is changing right now, rapidly before our very eyes. We've been talking about the financial system overall. I want to jump to a broader subject right now, and that is just the economy. Now, we have to understand the markets and the economy are not the same. So the economy is made up of businesses and that's your job,

and that's your business, and that's goods and services. And then we have the market, which is you know, stock market, bond market, etcetera. Now they are not the same. Now, they kind of should be the same because typically you're investing your stocks, are buying companies, and the companies make up the markets, so they should I'm sorry, the companies that you're buying. The markets should represent the economy. That's

the way it should work. However, now we're in this highly financialized economy where basically everything has become financialized, and we can see the disc connect. There's no greater illustration than just looking back till in March, the entire economy was shut down. Businesses that have been in business for decades were forced to shut down. Um, all the goods and service that were being made, the supply chains, they

all broke. People were at home not working. However, when the economy shut down, the markets went on to make new highs. So how are markets? How are stock markets making new all time highs when the economy sets down? And that's because, of course there's a disconnect, right, so you have to understand that now. But let's take a look at the economy for a second so we can see. Here's a article that broke UM on the Wall Street Journal says that the this Thanksgiving, what prices to expect

at the grocery store. And what we can see is that unfortunately, the cost of everything has been going up through the roof. Food has been going up, energy has been going up, and unfortunately your holiday meal is going up as well. Maybe this will change you wanted to go um or or how many people you host for for Thanksgiving. And it says the holiday meals costing American families about fourteen percent more this year due to higher prices of turkey, flower, eggs, and other staples. So you're

gonna have to spend more money. Spent about fourteen percent more this year due to those higher prices. Now, there's a million reasons why they want to say this is happening. It says turkey prices have increased about thirty percent from a year ago, So turkey is up thirty So I guess it depends on how much turkey you have for Thanksgiving, depends on how much more you'll pay um. And there's any number of reasons why this happened. But inflation happens

because we have too much money. So as the government continues to put more money, the existing dollars are worth less and less. So it's not that prices are going up. Is that the purchasing power of your dollar is going down, so those dollars are buying less good and services, So your dollars are buying less turkey than they did the year before. There's not the prices of turkey went up,

is that the dollar went down. And if that's not bad enough, maybe you don't want to host a big Thanksgiving party at your house because you can't afford that increase. Maybe you'll just drive to go see your family. I believe Thanksgiving holiday is the largest travel holiday in the year. I didn't fact check that before I said that I think that's the case, but what we can see is that that's also going to be a problem because diesel

hits a record premium over gas. As a matter of fact, um the price of diesel and gas are usually kind of somewhat the same. Sometimes diesel is a little bit more expensive. I believe that diesel is always supposed to be cheaper than gas because it's a lot cheaper to produce the diesel. But because we're in a diesel shortage, it's getting a massive premium over regular gas. Of course applying demand, so when you have more diesel needed than

there is diesel available, it pushes the price up. Now, I did a whole video on why this is happening on my YouTube channel. It's got I think over one point two million views. If you haven't seen it, you're missing out. Just go search Mark Moss on YouTube and you can find that video I did on the diesel crisis, Why it's happening, how to solve it. I'm not gonna go super deep into that now, but I broke it down in about a twenty minute video if you want

to go watch that. But basically, that is going to add to the cost of your turkey because some farm somewhere, a farmer has farm equipment that uses diesel gas, so his cost went up space to sell his stuff for more. Then that turkey that he sold probably went onto a diesel truck and got delivered to a plant that processed it, and that plant probably uses diesel fuel to run their equipment. And then it had to get onto another truck to get process sent to like a processing center, and then

another truck to get sent to the grocery store. So when diesel goes up, all of those pieces go up, and all of those prices go up, and now you want to go You don't want to host Thanksgiving because the price too expensive. Now you want to go drive to a family member, or you want to hop on a plane or a train, Well, the price is going to go up on that as well. It says right here the price of fuel has risen about fifty percent

this year alone. We have dwindling stockpiles. The video I talked about was that we had about less than twenty five days worth of diesel fuel available. And the reason why is we just can't make it fast enough. Now, why is that? Why can't we make it fast? If we never had a problem with diesel fuel before. Why are we having this problem all of a sudden. Well again, go watch that twenty minute VIEO I put together if

you really want to understand it. But the highlight of it, if you want the short version of it, is that we're just not making enough of it in the US or the world. Now, you have to understand that it starts with oil, and then you take the oil, and the oil goes to a refinery, and then a refinery processes that oil and turns it into gasoline. So we need refineries. So you can obviously start with the oil. But the price of oils come to own. So if the price of oils come down, why is diesel going up?

And that's because the refineries aren't able to make enough of it. Why aren't we able to make enough of it? We used to make enough of it, now we don't. And this is a question that you need to be asking yourself all the time. If you've been traveling, I traveled quite a bit. If you've been traveling like I have, you know that it's almost impossible for a plane to run on time anymore. But why is that they used to run on time? Now they just can't seem to

run on time. Why is everything breaking down? Why did we used to be able to have reliable electricity and now in California we have rolling blackhouts in the summer like that didn't used to happen. Why. Well, the problem is because policies have created artificial problem. And so because of regulations and because of Joe Biden running on a policy he's saying literally as he come into the White House saying that he was going to shut energy companies down.

He was going to shut oil companies down. He's denied any expansion to that. No oil company or refinery for that matter, wants to invest money back into the space into a space that they say they're going to be shut down in. So to start a refinery, it takes billions of dollars, It takes a decade to get up and right. It takes sometimes almost twenty years for it

to produce a profit after they pay back everything. But why would you invest for ten years or twenty years into an industry where the president is literally telling you they're gonna shut you down. So there's no new investment. Now most of the refineries or some of the refiners are over one hundred years old. Over a years old, that's how old they are. So they're, as you can imagine, highly inefficient, and they break down a lot, So a

lot of them have been shut down. There was one refinery that it needed repairs, but it was like a billion dollars in repairs, and nobody wants to put the billion dollars into it or to repair it, and so we're just losing refineries. The refineries are running, are being shut down. They can't be repaired, can't be restored. And then because the remaining ones that are there are working

so hard now, they're running way over capacity. So refining, just like everything, should shut off once in a while, so they do maintenance and you do maintenance so it doesn't break down. But they can't shut them down to do maintenance because they need to run them all the time, which then causes even more problems. So that's a big problem. There's not an easy way out. If you'd like to understand more about that, Like I said, go watch the

YouTube video I did about this. You know, the United States President Joe Biden has been slamming these companies, threatening the gas companies to lower gas prices. It's not them. They don't. They don't raise the prices gas. They only make a few cents per gallon of profit. It goes back to the refinery. The president of the CEO of Valero Major Energy Corps put out a putt a letter to the Governor of California, Gavin Newsom, saying, look, we're

not coming on with any new refineries. The state of California has these strictest regulations against refineries, which is why they've all shut down, which is why the gas prices are so high. And we're not making any new ones because we're not going to invest into an into an industry where you said are going to shut us down. And so all this talk and rhetoric from Gavin Newsom, from Joe Biden saying it's these greedy oil companies and

gas companies raising the prices. That's not the answer. Expect to pay much higher prices, not just for gas, but for everything because in the scenario I told you, everything has to be driven around, so you can expect more of that. If you're just tuning in you're listening to the markma Show, we're talking about the decentralized revolution, the way the world is changing through the lens of politics, finance,

and technology. I got more to discuss to discuss. When we come back in a minute, you don't want to miss it. We're gonna be talking about the education system, the political system, and more. I'll be right back. Don't go away, all right, welcome back. If you're just tuning in, you're listening to the Mark Ma Show. We're talking about

the latest breaking news around the world. As we look at the world transitioning from a world of centralization and central control to a world of decentralization, and we can see this from all different angles. Is just just I mean, so many you know, we just had the mid term elect is happening here in the United States, what we're being called maybe one of the most important elections that we're going to have, and I don't know every one

of them is the most important, it seems like. And you know, I don't really like to discuss politics here on this show. I'd like to discuss politics only in so far as it relates to finance and technology, and so I like to look at the intersection. So typically I don't really discuss politics that much other than, like I said, policies and affect the economy. And our investments. However, I do want to talk about this election just a

little bit. I'm not gonna dig in super deep, but I want to look at it from a couple of things, because there's two big things that really stand out to me from this election, from from a from a high level, and I think this is something that everybody should be aware of and everybody should be concerned about. The First thing that I would say is that here we are, We're through the election, and there's massive allegations of fraud, massive from from all over Okay, and both sides are

alleging it. So I'm not going to make this partisan, all right, both sides are alleging it. We have fraud everywhere we have. People are saying, here's the article is calling a third world electorate. UM the electoral party we see here. American electoral system is suffering from a credibility crisis. UM. UM media calls Arizona's race for DEMS after the votes haven't even been counted and for some reason they still can't even count the votes. UM. Missing ballots are found

in New Jersey County. UM. I mean, just all these allegations and I'm not gonna dig into them. I don't want to make this partisan, but here's what I want to say. There's all these allocations of fraud or improprieties or inconsistencies or whatever. This should not be that difficult. The reason why supposedly there's like this misinformation or what they want to call conspiracy theories is because there's no transparent And see, the way that you build trust is

with truth, with transparency. If you don't believe something I'm saying, I'll prove it to you, right and then through that proof, you'll trust it. And if you call me out over and over and over and every single time I prove it, prove it, prove it, Eventually I'm gonna start gaining trust with you. Now, I understand right now, you're just listening to me. So I can't show you a lot of things that prove it to you. If you watch my

YouTube channel, I always bring the proof. But when it comes to the election, let's go back to the last election cycle. The Trump administration said that the election was stolen from him from the buying a campaign. That's not a partisan thing. That's nothing new. Hillary Clinton said the election was stolen from her. Okay, look this happens almost all the time, so I'm not gonna make this a

partis an issue. What I do want to say is that if in the in this last election we had the mid terms last week, if someone says, hey, these votes aren't right, it wasn't counted properly, it's very easy to fix this. We don't need technology. All we need is let's say, well, okay, let's just lay out the votes, and let's have a Republican here and a Democrat here. Maybe let's live stream it on YouTube so everybody can watch,

and let's just recount them. That's it, Like, it doesn't need to turn into this big, big political thing where it's like, well, they're trying to use it for the political game and they're trying to say there's impropriety. Just recount them. The problem is when the Trump administration accuses the Democratic Party of of of improprietaries and then they want to shut it down, tell you to shut up, tell you that it's false. Okay, Ripping out of man's

tongue does not prove that you're right. It only proves you have something to hide. So the right thing to do would have been, oh, well, I I see there's all this stuff on the Internet that shows the improprieties. Let's just recount it. And this same thing goes here. Um, why not just recount it? Why not have it open and fair? Why not have somebody from both parties there? Why not have it live streamed on the internet. We don't need technology. This can be done very low tech

for literally like almost no money. I'm pretty sure you could get a Republican a Democrat party representative to go there for free, to stream onto YouTube is basically free, and we could just recount this thing. Okay, So again, I don't want to make this. I don't want to make this uh politically or partisan. Um, both sides should

want this. Both sides should want it. Going back to the Trump Biden thing, if you know, one, if the Trump administration said, you know, accused him of proprietaries and uh, the Biden administration said, fine, let's just recount them, then open it up. Let's let's go like that's what we should want. And then if it was open and fair and transparent everybody leaved it, then everybody could up it. But when you censor and you shame and you and

you hide, then conspiracy theories run wild. Now it's so easy, it's so cheap that you would think, why wouldn't they do that, And the answer is because they don't want you to know. Which is the problem and the bigger, the bigger thing on this, and this goes back to the decentralized revolution. We are losing trust in central controlled entities because we know we can't trust them. That's why we're losing faith and credibility in our central institutions, in

our central planners. If they would work to restore trust and transparency, then we could trust them, but they don't. Every time they try to censor, we lose trust. It's not how you gain trust. If you thought your business partner was embezzling from you and you said, hey, can we sit down and go through some of these invoices because I don't know what they are, and they said, oh, oh, never mind that, never mind that you don't need to look at that, then that makes me doubt him even more.

But if he said, oh, yeah, sure, let's sit down, Okay, here's what we bought, then there's transparency and then I can trust my partner again. So all of these calls that you hear for censorship by one side of the political Aisle. Every single time they call for more censorship, it makes us lose more trust. Truth is found through open and honest discussion and not through censorship. They want

to say it's misinformation. There probably wouldn't be misinformation or as much misinformation if we had the truth and transparency. The other thing I'm going to say about this political this demock not the midterm elections that we had on top of all these allegations of improprietaries that are just shocking for me, and it's it's disheartening and it shows that we're at the end of our central planned governments.

The other thing I would say is, I think everything that you need to say about the political system, UM and specifically the political system as well as these midterm elections. I think the whole race is really summed up in one state, and the state is in Pennsylvania. I think everything we need to know basically is right there. You have a doctor, um, a doctor who was um well known and well liked. UM. You have he was, he

was well well liked. He he's a celebrity, right like Donald Trump came to fame because he had a TV show. He was a celebrity. UM. Doctor Oz was a celebrity, he was well liked. There was trust there. He was like promoted by Oprah. Everybody loves Oprah. Dr Oz is good looking, and he's smart, and he's articulate, and he's a doctor, right. People trusted them with their health because he's a doctor all these things. And he ran against a guy who can't even put a sense sense together

And I get it. That's mean to say because he had a stroke. And I get it. He had a stroke, and I feel bad for him, and I wish he didn't have a stroke. But you're electing someone to be your representative. And if you're electing someone to be your represented, they should be able to go represent you, which means they should be able to talk and have coherent sentences.

And the fact that a guy that can't put a sentence together and I get it because he had a stroke and I'm sorry, but he can't, And the fact that he beat a very well liked celebrity doctor that's articulate and smart says everything you need to know about the election process. Now. Was it because there was massive amounts of fraud and improprietaries, I don't know, Or was it because people are so blind ideologically, they're just going to vote for anybody because of party lines. Either case,

it doesn't matter. It sums up the entire state of politics. And I don't want those people representing me, which is why we're going back to a decentralized world and not the centralized world that we have. If you're just tuning in, you're listening to the Markma Show. We're talking about the way the world is swinging from centralization to decentralization. These are the signpost that we are witnessing and that's what I got. Thanks so much for listening. Until next time.