The Mark Moss Show Oct 12, 2022

when is it gonna happen? When is it gonna happen. I'm like, it's happening. It is apt like it's happening now, we're watching it. And so I always want to remind you it's a process and not an event. A process and not an event. Now, um, a little story about that. Um so I I am still but in one of my former lives, I was a full time real estate investor, buying properties, fixing, flipping. But I was also buying dirt and building from the ground up right, um. And those

projects will take four or five years, sometimes longer. Let's say for example, that I heard, uh I was at a town a town hall meeting and they said, hey, uh, you know our five year plan Um, this this piece of land that's about thirty miles from town. Uh, we're gonna build a new football stadium there, and um, it's gonna be We're gonna try and push every all the growth of the town towards this football stadium is gonna be amazing. You want to build entertainment and how's in

blah blah blah blah blah. And I'm like, wow, that's amazing. The next morning, I leave and I go by as much land as I can in that area, right, but I know that it's not gonna be built for five years. So what am I doing? I need to make sure, like is this project still on tracks? So I'm monitoring now have they got you know, have they got the plans, are they getting the permits? Have they secured the financing?

Are they breaking ground? Have they started building? Right? And so I'm monitoring the progress to make sure that thing is still happening. Now if I find out oh no, I guess what they found out They had nuclear waste on that on that land they could no longer build anymore, Well, then okay, the projects off. So we want to These are processes, not events, and so this is happening and we see the daily signs to show us as is happening,

so we can act accordingly. Um. And so that's why I like to look at all of this news now, big news in the economy. Uh. I put out a put out a I think, a story on Instagram. If you're not following me on Instagram or Twitter, you should. Uh. It's just one Mark Moss, just the number one Mark Moss. And I put out a story on Instagram. And I was like, tongue in cheek obviously, but I'm like, all right, congratulations he congratulations. Uh. The United States debt finally surpassed

thirty one trillion dollars for the first time. Uh, tongue in cheek, But that's a big number, dirty one trillion dollars for the first time ever. It's not a milestone to celebrate. So I was being tongue in cheek. Now, not only not only have we passed thirty one trillion dollars, which is not a good milestone, it's a grim mouse dun.

At the same time, as the debt is absolutely exploding, we have soaring interest rates, so that means not only are we getting more debt, but we have to pay more for the debt at the same time, which is a pretty big deal. Uh, We're seeing inflation higher than we've seen in forty years, interest rates are going up, and the debt is growing as well. Now we have we have this phenomenon. It's growing faster than it has

any time in history. I believe. I believe it's gone up by four trillion since Biden took office, or within the last couple of years. I don't have the exact number in front of me. UM, but what we do know is that UM, we are spending more. The interest on the debt is going up more, which means we

have less money to put towards other things. And tax receipts are coming down m So the amount of income coming in is going down, but are spending is going up and the debt that we have is getting more expensive. It's not a good it's not a very good combo to have. As a matter of fact, we see that Congress and the President have approved a combined one point nine trillion and new borrowing, and President Biden has approved four point nine trillion in new deficits since taking office.

So five trillion dollars in deficits. What does that mean? That's the difference of the income and the expenses. So let's say that you make a hundred thousand dollars a year, but you need a hundred and twenty thousand to live, so you're borrowing off of credit cards or whatever. So we have a twenty dollar deficits. Well, we had a five trillion dollar deficits. Five trillion dollar deficits, and of course during that time, we need to continue to spend

more and more money we're sending. Uh you know, was it twelve billion dollars was the latest deal going over to Ukraine at a time where we just we didn't have no money. But it's troubling because the debt has real, real problems. So you might hear people say, oh, we owe it to ourselves, right, we owe to ourselves, Uh yeah, some of it, but who else we go to? Well, we owe it to all the retire these whose pension

funds are tied up in it. Yeah, we owe it to other countries like Japan whose o theve retirees are tied up in it as well. So uh sure, right, we owe some to ourselves whatever, But ourselves are like me and my money that I'm planning to have upon retirement that could potentially go away. We can see that Medicare is only six years from insolvency. Six years from insolvency what I mean Medicare having no more money. A lot of people depend on Medicare. When that goes broke,

what happens? So security is insolvent in twelve years. Bummer for me. I've been paying into it for a long time. Looks like I got no money to retire on. So what's gonna happen with that? Well, either the government goes busts and doesn't pay all these people to sub security they owe them and all the medicare. Either that happens, or more likely, they print a lot more money, a lot more so you can you can chime in on

what you think is more likely. Hit me up on social media, um one, Mark Moss and let me know what you think. Of course, I'll tell you what I think. Why would a government go bankrupt when they can just print the money? Of course the answer is they won't. So we have that big problem. The debt is getting bigger. At the same time, we just saw the job's openings, So the economy, remember that the FED has two man dates full employment and stable prices. Where prices aren't stable,

they're nowhere near stable. As a matter of fact, as I was talking about earlier, gas prices just broke their all time records set in June. So, uh, that's anything far from stables. A matter of fact, they went up a dollar twenty in just thirty days. Certainly not stable. UM. So they're failing at that obviously, but they can at least we have a low unemployment, We have low eemployment, well not really if we dig into the date, it's

not that bad. But it's even worse because this week we saw job openings plunged by more than one point one million in August, a ten percent drop from what was reported into lie and more than a million less than what was expected. That's the big thing. And so they set these expectations, they set these goals, um whenever like a public traded company says these are sales or profit expectations or the government does, you're supposed to hit those, you want to beat them. If you don't, if you don't,

if you don't meet those at a big deal. And that's exactly what happened here. UM. And so what does that mean? It means that UM, there's a massive US labor gap. It's beginning to close, all right. Um, so it's a big deal. And the numbers of hires rose slightly, while total separations jumped by a d two thousand. Quits or those who left their jobs voluntarily, rose by a hundred thousand for the month to four point one six million, So four million people over four million people quit or

left their job. Now we don't know why. We know at the end of last year, we saw a lot of people quitting their jobs, record amounts, as a matter of fact, people quitting their jobs to um trade options on robin Hood or trade cryptocurrencies. I can't imagine they're they're still doing that right now, um, but maybe they because as we saw on some of the labor reports in July, people were taking multiple jobs um. And so the growth that we saw in jobs wasn't real data.

I mean, it was obviously real data, but it wasn't what it seemed. And so we saw it wasn't that more people are going to work. That people were taking more than one job, and so maybe they're going back to one job potentially. But these are the signs that show us, like the FEDS, the FEDS stock. The FED is going to have to do something. They said they're gonna stick with it until it's done, but I'm not so sure. I think I am, for one, making the case that they won't be able to bring inflation back

down to two percent. They will be forced to pivot before they get to that point. Maybe they get it to four or five at best, but they're going to be forced to pivot. Uh. The job's opening reports show that the national debt shows that the story and deficit shows that UM. As inflation continues to rade, John, the government will have to spend more money to subsidize energy prices. Is like they're already doing over in Europe. We'll see the deficit expand and that long awaited pivot is coming.

Now you're listening to the Mark Ma Show. We talk about the decentralized revolution, and this is one of those things. We talked about money, uh, finance, politics and technology, and through the politics and finance, peace the system we know it is coming to an end, showing the inevitability of this decentralized world we're talking about. Anyway, I got a lot more to cover when I come back about the pivot. I got more about oh oh, some big stories. Actually

you don't want to miss this. Don't go away. I'm gonna be right back. All right, welcome back. You are listening to the Mark Ma Show. We're talking about the decentralized revolution, the way the world is changing right now before our very eyes. And one thing that I'm it's been scaring me and I've been talking about quite a bit, um and it is scary. It's very scary. I'm sure you're scared about it when I tell you what it is. But I'm but I have hope and I'm continuing to

get more hope and be more encouraged. That's what am I talking about. Well, over the last couple of years, we have seen this shift. The world has shifted hard to the left. Um wokesm has taken over everything. And it's part of my thesis of this peak centralization. So as we get to peak centralization, uh, it gets more control and they're trying to control more and more and

more and more. But the world is rejecting it, has breaking apart, and so they're trying to squeeze and hold on even more as the world rejects it and breaks it apart. So a couple of things that we can see of this um and and these are like reactions. But I mean, just this week we saw UH has seen de Hardin for the PM of New Zealand, went to the u N and called for coordinated global censorship. She said that free speech is a weapon of war. That was her words. What we're seeing is UH corporations

going woke, pushing agendas on all types of issues. They're pushing these e s G policies and environmental social governance. So these corporations have to match these e s G UH qualities in order to get funding. So if you want to sell your products, if you want financing, then you have to comply with this. But these are disastrous policies for a bunch of reasons. First of all, the first reason off the bat is because central planning always fails.

You cannot control an economy top down. It doesn't work. It's been tried over and over and over for the last huntred years. It's felt miserably every single time time, and it will never work because a group of people do not have the information that collectively the market has. All right, it doesn't work, it can never work. But this is happening more and more and more but uh, as as scary as this is because they're wielding a lot of weight. We're seeing firms like black Rock wield

their weight. The largest asset manager in the world is forcing companies to change, you know, to go woke, to push these e s. G. Agen is and so that's scary. But what I'm happy about is we're seeing the tide shift. The pendulum is swinging back. And so what am I talking about. Well, we saw some big news this week that I was uh, pretty happy about and it was about black Rock. Now, first of all, if you don't know who black Rock is, then you've been living under

a rock. I suppose no pun intended to black Rock. But black Rock is, like I said, the largest money mass money manager in the world, and they are using that money to weaponize it against you. As a matter of fact, they are endangering US prosperity and national security. Per an article that I'm I'm reading here that came out on the Federalist. Black Rock is a big, powerful company that most Americans know little about. It manages almost ten trillion that numbers bigger now um and the vast

majority of its investing is done passively. So black Rock manages money for large institutions and pensions. If you have a pension um or like a four one K, then it's a good chance you have your money with black just about everything, I'm sorry, just about everyone um has or knows someone who has money directly or indirectly in black Rock. They're that big and so because of that, they wield enormous power. And uh, even though they're not the owner of the money, they're managing it on behalf

of their clients. But they get the vote, they can vote on those shares they buy on behalf of their clients. So you have your money in a in an index fund, in a four O one K, and a pension, and that pension is now given to black Rock, so black Rock can manage it. So it's not their money that they wield all the power with. It's yours. But they have it because you've given it to them passively, and they use it to exert exert crazy amounts of influence

over corporate management like for example, Exxon, Microsoft, etcetera. Now what they do is they push for these left wing political priorities. I hate to use left or right. They're pushing for E S G policies, They're pushing for woke policies. Whatever side do you want to call that on UM alone, black Rock opposed the reelection of eight hundred company directors. They took over Exxon's board, and they stopped Exon from drilling for new oil projects an oil company. Interesting. They

removed board governors and installed new members. Despite the globe objectively being underinvested in energy, so at a time when we don't have enough energy, they took over EXN and made Excen stop drilling for oil. It seems like it goes against yours and my best interests. I would like oil to be cheaper. If oil cheaper, everything goes cheaper, but not to black Rock. Black Rock contributes to the economy's monopoly problem. UM black Rock is the is a

prominent cause of the unprecedented rise in housing prices. They've killed the dreams of so many Americans um to own homes because they buy up chunks of single family homes, person in large unks of homes paying over thirty five percent asking price, because they have the ability to have all that money. I can keep going on and on about black Rock, but you get the point. What I'm happy about out as I saw just this week that Louisiana hits black Rock with a massive, multideal, multimillion dollar

divestment for quote blatantly anti fossil fuel policies. So Louisiana State Treasurer John Schroeder announced that his state will divest. That means they're gonna take all their money away. We're done with you. We're not going to give you our money to weaponize against us anymore. We're gonna take our money back. Forget you. They're divesting their funds from black Rock due to Environmental, Social and Governance e s G policies and and and some claim boycott the oil, gas,

and coal industries. Schroeder said, quote in a letter, you're blatantly anti fossil fuel policies would destroy Louisiana's economy. Why would we give you our money so uh in in the state, our pensioners are retirees. We're gonna give you money that you're going to use to push policies that will destroy us. Why would I give you money that you're going to weaponize against me, to destroy me? Makes no sense? And I would ask every buddy listening right

now to ask themselves that very same question. If you have any money at all that somehow gets back to black Rock and Vanguarden State Street. You need to think about getting that money out, pressuring whoever's and control that money to get that money out, to avoid losing state money quote to the detriment of our citizens. The Louisiana Treasury will gradually pull money away from the financial firm.

Once complete, this divestment will reflect almost one billion dollars no longer entangled in black Rock money market funds, mutual funds, or exchange traded funds ETFs. According to the letter, the letter took direct him at e s G, an investing practice that penalized industries believed to be harming the environment. But e s gs environmental considerations are often made at

the expense of other fiduciary duties, fidicciary duties. So the goal of a president the fdciary duty legally binding the role of a board or CEO or um black Rock, who now takes these board seats should be a finisiary dude to may the company more profitable, basically more profitable. Anything they do that is not making them more profitable breaks their fidciary duty. That's a legal problem. I would like to see them instead of just pulling money out,

why not file a lawsuit against them? Right, you're not doing what's in best interest of the company. You are purposely I mean you took over x and and made them stop drilling for oil. I mean they're an oil company. Uh so they're saying that they do it at the expense of the fidiciary duties. Investment firms that use E s G investing practice is often referred to quote stakeholder capitalism, as black Rock does on its website. So, um, you know,

I'm scared. I'm worried. I don't like seeing this happen, But I'm encouraged by people are waking up and they're actually doing something. And my hope is that this will bring more attention to what black Rock and Vanguarden states we are doing. More people will pull their money away. If enough people pull their money away, they're going to be forced to change. Hit them where your where the pock ubly is you vote with your money, pull your money out. If enough people pull their money out, black

Rock might go shoot. Maybe we should reverse course on these stupid decisions that we're doing. At least as I hope you're listening, to the Mark Ma Show. We're talking about the way the way the world is changing through the decentralized revolution, and we're seeing it happen in real time. I got a lot more to cover when I come back. I'm gonna take a quick break. You don't want to miss it, so don't go away. I'm gonna be right back. All right, welcome back. You are listening to the Mark

Ma Show. We're talking about the decentralized revolution. The way the world is changing right before our very eyes, through the lens of politics, finance, and technology, and they all three, they all work together. I like to focus on the intersection of those three. But if we look at the finance, UM, we can see the financial world is melting down right before our very eyes. The Federal Reserve doesn't want to know what to do. Central banks around the world are

blowing up. The Bank of England just had to bail out the UK's pension funds. UM, it's getting real out there. Let's let's just say that now, as bad as things have been getting and we said where there's been numerous polls done by University of Michigan, which does of the best polls out there, that showed that consumer sentiment is like at its worst ever. As a matter of fact, Um, they've been doing polls not just consumers, but they've been

doing polls on on businesses and global CEOs, etcetera. And it's been bad. As a matter of fact, some crazy numbers were like, um, you know, fifty of small businesses expected to laying people off over the next twelve months. Um, sixty of small businesses in the transportation sector, we're behind on their on their rent payments. I mean, it's been bad out there, but it seems like the tide is

shifting a little bit. Why is the tie shifting, Well, the tide is shifting, at least in the sentiment side. I'm gonna tell you about that. And I'm gonna tell you why I think the sentiment is shifting and why it's sent Why it's shifting for me, and maybe it could be shifting for you. Now, the world is uncertain. We don't know what's going to happen. All we can do is see what is happening, what's going to happen, and we try to draw some conclusions off that. So

bear with me. Let's let's take a walk through that. So this report came out this week that global CEOs expect impending recession to be short and sharp. Quote poll shows, So global CEOs expect the anticipated recessions, so they're anticipating a recession. Um. I mean, you know, the Biden administration changed the definition of a of a of a recession, so maybe maybe we won't have one in the classical sense any anyway, or in the technical definition that they

would say. But global CEOs are anticipating a recession in the next twelve months, but more than half of them anticipated will be like I said, quote mild and short. Um. But these business leaders have all expressed more confidence since the start of the year that there will be growth prospects in the next three years. So it's interesting to think about that. So about half of them expect that there's going to be a recession, if if we're not already in one, I mean, we've had two quarters of

negative GDP growth. Uh, But they expect it will have one, but it's gonna be mild and short, and then if it's short, then that means we'll start growing again on the other side of the recession, which is why they say they see big prospects for growth in the next three years, which is pretty interesting. Now this kind of aligns with what I'm thinking. I'm going to talk about what I'm thinking a little bit, but this is a majority of the th chief executives pulled by KPMG. KPMG

is what's called one of the Big Four. There's big four accounting firms, global international accounting firms that go in and you know, look at the books and certify the numbers and things like that. So kpm G is the big dog. So their polls are with kind of the who's who of these chief executives. So majority of thirteen chief executives pulled by KPMG between July and August warned, however, that increased disruptions such as the recession could make it

difficult for their businesses to rebound from the pandemic. But that that being said, the CEO has expressed more optimism compared to the start of the year. So at the start of the year, um again, as I was talk referenced some of these surveys, sentiment was at a record low. All these businesses thought they would have to lay off all these people. But now it's rebounded, right, it's rebounded.

It says here, uh, more express morponism compared to the start of the year and said there would be growth prospects in the next two years. Why why, Why is the sentiment shifting. It's an interesting question that I'm gonna answer for you don't worry, but it's an interesting question because all the signs show that things are getting worse. I mean, like I said, the Bank of England has had the belt, the UK pensions, we just had the North Stream pipeline blow up. There's no more oil going

from Russia to Germany anymore, or gas. Things are getting worse. Germany has tried to stockpile natural gas supplies, but they their reserves are only gonna get them about thirty percent of what they need for the winter. That's a seventy percent reduction. So the factories are shutting down, their d industrializing. If you d industrialize, if you show your factors and if you don't produce goods, what happens you have no exports. If we have an export, what happens? You know tax trees?

If you know tax trees, what happens you go broke your default. So in the light of this, we got the credit squeeze. Is about the default their CD at the credit defallse swaps are going through the roof got Japan is now, you know, buying more of their own bonds than they've ever done. Um, they're about to implode. We got nuclear war that's about to happen on both sides of the world, you know, from Russia, Ukraine over there, China, Taiwan.

We got new North Korea's filing firing missiles over Japan. So why are they more optimistic compared to the start of the year. Um It says that CEO's worldwide displaying greater confidence, grit, and tenacity in writing out the short term economic impacts to their businesses, as seen in their rising confidence in the global economy and their optimism over

a three year horizon. UM globally see eos are viewing mergers, acquisitions, and innovation favorably, taking a much sharper pencil to the numbers and focus on value creation to unlock and track deal value. There there's one thing they're worried about here, and they're worried about pandemic fatigue. Where they're worried about one of the biggest challenges they say as a recession, as a business leader, remain under pressure to meet their

broader social responsibilities. Uh, they're E s D scores. That's what they're worried about. So these onerous regulations that have been put on them to meet these E s G scores. They said, that's one of their biggest challenges that they have. They remain under pressure to meet their broader social responsibilities. Quote.

So even with the even with that changing, even with those these honors E s G things breathing down their neck, they still have shifted from being very scared and worried in the beginning of the year to now being optimistic. What happened because like I said, the world, the world looks bad. Well, what happened is things have gotten so bad, so fat that we know we're going to have to come on the other side of it at some point soon. And so we're seeing that. We saw, like I said,

we saw the everyone talks about this. Uh, the FED, when will they pivot? So the FED was increasing the money supply for the last decade, last dozen years, and things have looked exploded. Right, The economy is exploded. The markets have gone up. Your real estate, your bitcoing, your stock, everything's gone up. It's been great and now they take the punch bowl away. Now they decrease the money supply,

and how everything starts drinking. So everyone's like, well, when will they start increasing the money su flag and give me some more of that doing some more that hope? You am, I need someone that more of that money? Right, everybody wants that. When will they come back with that? Well, the Fed says they won't because you know, they have to fight inflation. So when inflation comes back down, they'll they'll bring the money supply back supposedly, right, but what

if they bring it back sooner? That's what is bringing the hope back in my opinion, that's what's bringing the hope back. Why what we saw the Bank of England, like I think it's the fifth largest central bank in the world, capitulated they had to pivot. Okay, fine, we can't tighten. We can't tighten them onto we're done. Let's just go ahead and blow back up. When they did it, it all of a sudden said wait a minute, other central banks are breakna do it next as well, So

we did. We saw the r s A in Australia they pivoted. The ECB is about to be forced to pivot and eventually the FED will be forced to pivot sooner than later because things are so bad. Uh. We saw this week that the u ND the United Nations, came out and they demand, they demand, big word, demand all central banks to stop rate hikes, stop tightening, stop tightening, they said, the UN agency dealing with Global trade demanding

all central banks stop rate hikes. They argue, policy makers appear to be hoping that a short term monetary shock along the lines and not the same magnitude as that pursued by Paul Volker, will be sufficient to anchor inflationary expectations without triggering a recession. So they say, if you can, if you can restrict them enough, it's going to create that. But that's not the case. And so we know that it's only a matter of time, and that time has

been escalated. So they're saying, if there's a recession is going to be short and temporary. Why because even if there's a dip, the FED will be forced to act sooner than later and boom, blow things back up sky high. That's what's happening. And and the FED saying, no, no, no, we're not going to. We're not going to, We're not going to But we're all sitting back on here, right. You have to. You just have to. Now you can decide to bankrupt the entire world, but they just won't

do that. The chance of them doing that is single digits probability in my opinion. So um, that's why business leaders more hopeful, and that's why I'm more hopeful. Let's see what's happening. Hopefully you're more hopeful. Hit me up on social media. Let me know one. Mark moss Um, you listening to the Mark mos Show. We're talking about the way the world is changing from centralization to decentralization, is breaking apart right before our very eyes, and we're

going through a play by play by play. I got a lot more to cover. Don't go away, I'll be right back. Hello, welcome back. You are listening to the Mark mass Show. We are talking about the decentralized revolution, the way the world is changing right now. Of course we're talking about it them the play by play. What's happening. So much goes on every single week. It's important that to tune in and you pay attention, otherwise you are going to be caught off guard. And while things look

dark and scary and they are. I remain hopeful and I believe we are all gonna make it. We're all gonna be okay if we play this properly, if we navigate this correctly. In order to do that, you gotta keep your eyes open. You gotta be paying attention, which is why you gotta be tuning in with me each and every week. And if you miss a week, that's okay. It's okay. You can catch it up on the podcast. Just search Mark moss Um Show on your favorite podcast player.

Imagine you were driving a let's say that you were like in um in a row boat and you're going super slow and you're in the middle of a lake and you you close your eyes while you're rowing for a minute. No big deal, right, I mean you're barely going you're in a lake. I mean there's no boats around. No big deal. Now, let's say you're driving a Ferrari down the five Freeway in California with doing a hundred miles an hour with the blindfold on. Would be pretty dangerous.

And that's exactly where we're at. We are escalating. The world is escalating UM in the in the more in the most dangerous situation at a rapid pace, more than I've probably seen any time in my lifetime. Um, and I study history, and and uh, we're definitely up there in terms of historical rankings. And so you don't want to be with a blindfold on like you're rowing a boat. We are in a Lamborghini on the fry Freeway in massive danger and we're going fast and you need to

be paying attention so you can navigate appropriately. So and if not, you're gonna get caught off guard. Like in the UK, they just got caught off guard. All the pensioners almost lost everything. The Bank of England stepped in and bailed them out. Um, if they didn't, it would have been really bad for some people. Eventually someone's going to be left holding the bag. And it depends on

where you're at in the world. So what we saw when that happened is in the UK, the British pound, which is their currency over there, the British pound was just plunging. It was falling super fast against the dollar, which means, um, it was inflation, like things were getting harder, it was getting more and more and more expensive. So what happened the people in the UK tried to get out of their falling currency as fast as they could. So they were trying to dump their pounds sterlings as

quick as they could into what what would they go into? Well, they were buying bitcoin and they were buying gold as a matter of fact, um in the UK physical gold got exhausted, there was none available. They went and bought as much as they could. You couldn't get anymore. I like as a as the saying I use all the time, it's uh, dig your well before you're thirsty. So most people are like, I don't need to dig a well

right now. You know I'm not thirsty. But when you're eventually thirsty and in to go dig the well, you don't have enough time, Like you need water right now. And the same is true like in in this situation where all of a sudden, all these people want to get gold, but there was no gold left. All these people want to go buy bitcoin, and you can still buy bitcoin, but the price that bitcoin has been going up.

Now that's a that's the extreme example. If your United States, do you have to deal with that, well, maybe maybe not, but again, do you want to dig you well before you're thirsty? A more extreme example is what's going on in Lebanon. So Lebanon has been under massive problems. Um. Their currency again has been hyper inflating and it's caused massive problems a matter of factor. We saw this week that they've been plunged into darkness. Lebanon's political and economic

crisis has plunged the country into darkness. Um. It desperately needs fuel, it needs energy, it needs gas and oil. Turns out the still world. Still, the world needs a lot of that and it can't get it. Some are experiencing power cuts of twenty hours a day. Hospitals have to cut back on essential services. Motorists wait hours and hours and hours just to get a little bit of gas. That's a big deal. But it's even worse than that.

The banks don't have any money. And so now we've seen more than a dozen banks have been rated in Lebanon this year by customers demanding to take out their own money. Armed robbers are breaking in with guns, holding bank staff at gunpoint to rob the bank of their own money. That's what it's that's what that's what's come down to. On Tuesday, even a member of parliament and

a retired diplomat staged sit ins at bank branches. Lebanons facing a devastated financial crisis, and banks have been forced tight withdrawing restrictions. Uh. The BBC's Rachel Thorne has spoken to one woman who stormed a bank with a toy gun to take out thirteen thou dollars of her family's cash. They're literally having to do armed robbery to banks to get their own money. That's an extreme example. The UK wasn't quite as bad, and of course in the United

States we're not quiet seeing that either. But do you want to wait until you get to the point that it takes guns to go into a bank to get your own the out? Is that what you want to wait? Or do you want to dig your well before you're thirsty? Well, um, I'll leave that up to you. You can decide what you want to do there. But uh, I'd like to dig my well before I'm thirsty, right, I don't want to wait. And what we're seeing is this battle coming to a head here so at a time when they

it seems that the markets are going to crash. Real estate is gonna crash, stock markets are gonna crash. As a matter of fact, the NASDACT, the DOW, they've all been plunging. Bitcoin has been holding pretty strong. And bitcoin has been holding strong because of supply and demand. I was gonna pause you if you're a braink and put the put the put a fill in the blank. I don't know if you know, but psychologically, anytime you're asked a question, you automatically have to answer it, even if

in your own head. Um, if I ask you a question, would you answer it? See, you've answered it in your head. But bitcoin has been rising. As a matter of fact, it is uh pretty pretty well holding up with this level. Um, it's up, but I mean it's not up a lot of about ten percent in the last couple of days since all of this trouble, in the last week or so, since all this trouble really started to take effect, because people are starting to realize, like, I need another option.

I can't get stuck in this currency. That's like the sinking ship. I need to get off into one of these life rafts while they're still a life raft. If we're on the Titanic, there's not enough life rafts to go around. Now they say women and children go first. Um, the monetary system doesn't necessarily discriminate like that. So whoever gets out first has the advantage. And so in the UK they're doing that. In Lebanon, they sure as heck whist they would have done that in other parts of

the world that are experiencing double and triple digit inflation. Uh, they are certainly doing that. As a matter of fact. I think I covered last week in Sub Saharan Africa. Uh, they make up eighty percent of all bitcoin transactions under a thousand dollars, so they're actually using it for real world use cases of all transactions in our thousand dollars. Pretty big. But of course the government's, the powers that be, the central bankers do not want you to have lifeboats.

If they had it their way, they would burn all the life rafts on the ship so you can't get off of it. No, this is not hypothetical, they've said as much as a matter of fact. Christine le Guard ahead of the ECB formula with the I m F who is a convicted criminal, I'll have you. I'll leave you to know as well. But now she's at the European Central Bank and she says we have to close off the exits. They want to keep everybody trapped in and they want to roll out their central bank digital currency.

So if we can get you to convert from your dollar you have now into a central bank digital currency, then we can control what you can and cannot buy with it. We can just say you can't buy stake, you can't buy gas, you can't buy gold, you can't buy bitcoin, you have no exit. You can't buy real estate, you have no X you can't buy stocks, you have no exit. Now a lot of people understand how bad, how dangerous this could be, and we saw this week Republican lawmakers who oppose a FED issued cbd C ask

the just ask for the Justice Department's assessment. So President Biden put an executive order in place for cryptocurrency. He wants to learn how to regulate it, he wants to have all these He's a he's a freaking dictator, man. I'm just gonna call it like it is. That's what an executive order is. No due process. I don't care what you may says. I'm doing it by executive orders.

So he passes an executive order to regularly cryptocurrencies, but and push the cbdc's Republican lawmakers on the House of Financial Services Committee have asked U s Attorney General America Garland to share Justice Department's assessment on whether the Federal Reserve has the necessary authority to issue a central bank digital currency. Why why wouldn't they? Well, as you may know,

Congress has authority over coining money and it's exclusive. The Supreme Court has already recognized Congress's power to coin money and regulate the value there of, confirming Congress is authority to regulate each phase of currency, not the Federal Reserve. Supreme Court has upheld that Congress has the ability at the photos or it's gonna be an important case. It's gonna be something to watch keep our eye on. Of course, they want to close off the exits. They want to

keep you trapped in like Lebanon did. But you have a chance to get out now before it's closed. You better be paying attention to listen to the Markmas Show, helping you navigate the decentralized revolution as it's changing. We covered a lot today. Hopefully I was helpful and uh that's what I got. Thanks so much for listening.