There's a saying that goes Debt is money that we owe to
ourselves. Debt is money we owe to
ourselves. We're told debt can be good or
bad. We're told that good debt builds
wealth and bad debt destroys it. Debt is money that we owe to
ourselves. What if the problem isn't which
kind of debt we take on? What if the problem is debt
itself is money we owe to? Ourselves, debt is the way I get
rich. So Buffett saying debt is no
good, That's Buffett's plan. This is a great program because
what we're saying is find the way that works for you.
You know you're fighting with a refrigerator.
I'd rather get $25 million in cash to buy the damn place and
hire a property manager. Speaking of debt, I would love
to hear your opinion on this. We had Dave Ramsey on this
podcast and I asked him a question.
I want to hear your your thoughts on his response.
If you could borrow $1 billion, zero percent interest for 10
years, would you? Do it.
No, even though you could put. It in treasuries.
After. The 10 years you could lock in
10 year treasury right now. 10. Or 5%?
No, it's not worth it. I don't borrow money.
There we go. What do you think about that?
That's Dave Ramsey's formula. Unfortunately, he's really short
sighted. What he doesn't understand is
1971, the US dollar became debt. If you stop borrowing money, the
US economy stops. So he says live debt free.
He's actually unpatriotic. I borrow money as a patriot
because when I borrow money, I create money.
So how does that work? Debt is a claim check on the
future. When you take on debt, you're
saying I will work tomorrow for what I want today.
Maybe it's a car, maybe it's a house, maybe it's a latte.
Whatever it is, you're receiving the goods or service on the day
now for payment of your time later on.
Now what if it wasn't just you taking on debt for the thing,
but the very dollars that you took out are debt itself.
What then? Well, that's the current system
that we live in. Are you telling me that the debt
I'm taking out to buy The thing is also debt itself?
Yes, that's exactly what I'm saying.
When the Fed creates new money, it doesn't literally print
bills. Well most of the time.
Instead it buys U.S. government debt or Treasury bonds using
money created out of thin air. The US Treasury issues a bond
and IOU. the Fed buys that bond, crediting the seller's account
with new dollars that have never been in existence before.
And now those dollars circulate in the economy.
But they're backed by a debt obligation, the Treasury bond.
So the base layer of our money supply is a promise to repay a
liability on the government's balance sheet.
Every dollar in existence today was born as someone else's
liability and a debt based monetary system.
The money itself is debt, as it's implied in the name debt
based monetary system. When that's the foundation of
your system, the only way to keep it alive is to create more
of it. Bad debt is everywhere.
It's the credit card bill you can't pay off or the student
loan that outlives the career that it bought.
It's debt taken on for consumption, not production.
The irony is that our entire financial system is built on the
same kind of consumption debt. Governments fund programs that
no longer yield returns. Corporations borrow to buy back
their own stock. Consumers borrow to feel rich in
a world that's quietly going broke.
Now there is such thing as good debt.
Good debt is leverage that produces value more than it
costs. A tractor for a farmer, a
machine for a factory, a rental property that pays itself off.
These are all examples of good debt.
But even good debt depends on one thing, a stable unit of
account. If the dollars you owe are being
printed faster than you can earn them, then your leverage turns
into a trap. Good debt turns bad the moment
money loses me. If you tried to pay for
something with a piece of paper, you might run into some trouble.
Unless, of course, the piece of paper was $100 bill.
But what is it that makes that bill so much more interesting
and valuable than other pieces of paper?
After all, there's not much you can do with it.
You can't eat it, you can't build things with it, and
burning it is actually illegal. So what's the big deal?
Of course, you probably know the answer $100 bill is printed by
the government and designated as official currency, while other
pieces of paper are not. But that's just what makes them
legal. What makes $100 bill valuable,
on the other hand, is how many or few of them are around.
Throughout history, most currency, including the US
dollar, was linked to valuable commodities, and the amount of
it in circulation depended on a government's gold or silver
reserves. But after the US abolished the
system in 1971, the dollar became what is known as Fiat
money, meaning not linked to any external resource but relying
instead solely on government policy to decide how much
currency to print. The asset that underpins the
dollar is just a promise, a promise that's enforced by the
world's largest military. We all have to keep attending.
The propaganda is true, and we're going after the terrorists
and we're the good guys. It's like.
Patriotic. It's.
The same. Bullshit.
It's all bullshit. What's the point here?
What does victory look like? And it doesn't look like
anything that whole complex is in the business of war.
If you're not expending artillery for not creating new
weapon system, if you're not doing all that stuff, business
is bad. And you can see that whether
it's in. Food Whether.
It's in Big Pharma. Whatever the best intentions in
the beginning seem to run away, and then that system just
sustains itself. But the root of all the problems
and all the pathologies we see stem from Fiat currency that is
corrupted. By oil technology and the
machine of war. The dollar's value depends on
the credibility of an empire, but that empire's credibility
depends on the continuation of the dollar system.
Both of them rely on each other. Bitcoin flips that relationship
on its head. But before I connect the dots,
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sat123.com. So this Bitcoin thing, it's not
a promise, it's not a claim on someone else's time.
It's what they call a bearer asset, meaning it's value fully
exists within itself. Like gold or silver, Bitcoin is
the thing of value. Whoever holds the keys owns it.
There's no counterparty, there's no IOU, no central authority
deciding what it's worth. Bitcoin's value is enforced
through math. A 21 million hard supply cap,
for instance. The two week difficulty adjust
proof of work system that converts real energy into
digital finality. It's a network that captures
information truthfully. A global shared Ledger that says
who owns what. In a world where deeptakes blur
reality and AI can mimic every sound, image or word, Bitcoin
stands as a verifiable truth. It says this transaction
happened and the value exists and the owner is real and that,
believe it or not, is revolutionary.
Here's the point. When you hold Bitcoin, you're
holding something that owes nothing.
It doesn't promise yield, but it doesn't inflict to please some
politician. It just is.
Bitcoin is the antithesis of debt.
It's pure settlement, final self-contained, sovereign.
Bitcoin is a tool to build, not to enslave.
So maybe the future isn't about escaping bad debt or chasing
good debt. Maybe it's about exiting the
debt system entirely. Because once you see the pattern
that every Fiat dollar in existence is a promise that can
be broken, you start to look for assets that can't lie.
And Bitcoin doesn't lie. They can't, right?
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story of the old world, a world built on promises and IOU
Bitcoin is the story of a new world, a world built on proof.
One erodes over time and one endures.
Thank you very much for watching this video.
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I'm oceans. This is beyond Bitcoin until
next.