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There's a saying that goes Debt 
is money that we owe to 

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ourselves. 
Debt is money we owe to 

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ourselves. 
We're told debt can be good or 

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bad. 
We're told that good debt builds

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wealth and bad debt destroys it.
Debt is money that we owe to 

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ourselves. 
What if the problem isn't which 

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kind of debt we take on? 
What if the problem is debt 

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itself is money we owe to? 
Ourselves, debt is the way I get

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rich. 
So Buffett saying debt is no 

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good, That's Buffett's plan. 
This is a great program because 

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what we're saying is find the 
way that works for you. 

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You know you're fighting with a 
refrigerator. 

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I'd rather get $25 million in 
cash to buy the damn place and 

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hire a property manager. 
Speaking of debt, I would love 

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to hear your opinion on this. 
We had Dave Ramsey on this 

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podcast and I asked him a 
question. 

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I want to hear your your 
thoughts on his response. 

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If you could borrow $1 billion, 
zero percent interest for 10 

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years, would you? 
Do it. 

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No, even though you could put. 
It in treasuries. 

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After. 
The 10 years you could lock in 

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10 year treasury right now. 10. 
Or 5%? 

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No, it's not worth it. 
I don't borrow money. 

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There we go. 
What do you think about that? 

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That's Dave Ramsey's formula. 
Unfortunately, he's really short

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sighted. 
What he doesn't understand is 

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1971, the US dollar became debt.
If you stop borrowing money, the

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US economy stops. 
So he says live debt free. 

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He's actually unpatriotic. 
I borrow money as a patriot 

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because when I borrow money, I 
create money. 

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So how does that work? 
Debt is a claim check on the 

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future. 
When you take on debt, you're 

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saying I will work tomorrow for 
what I want today. 

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Maybe it's a car, maybe it's a 
house, maybe it's a latte. 

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Whatever it is, you're receiving
the goods or service on the day 

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now for payment of your time 
later on. 

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Now what if it wasn't just you 
taking on debt for the thing, 

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but the very dollars that you 
took out are debt itself. 

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What then? 
Well, that's the current system 

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that we live in. 
Are you telling me that the debt

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I'm taking out to buy The thing 
is also debt itself? 

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Yes, that's exactly what I'm 
saying. 

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When the Fed creates new money, 
it doesn't literally print 

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bills. 
Well most of the time. 

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Instead it buys U.S. government 
debt or Treasury bonds using 

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money created out of thin air. 
The US Treasury issues a bond 

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and IOU. the Fed buys that bond,
crediting the seller's account 

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with new dollars that have never
been in existence before. 

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And now those dollars circulate 
in the economy. 

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But they're backed by a debt 
obligation, the Treasury bond. 

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So the base layer of our money 
supply is a promise to repay a 

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liability on the government's 
balance sheet. 

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Every dollar in existence today 
was born as someone else's 

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liability and a debt based 
monetary system. 

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The money itself is debt, as 
it's implied in the name debt 

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based monetary system. 
When that's the foundation of 

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your system, the only way to 
keep it alive is to create more 

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of it. 
Bad debt is everywhere. 

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It's the credit card bill you 
can't pay off or the student 

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loan that outlives the career 
that it bought. 

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It's debt taken on for 
consumption, not production. 

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The irony is that our entire 
financial system is built on the

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same kind of consumption debt. 
Governments fund programs that 

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no longer yield returns. 
Corporations borrow to buy back 

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their own stock. 
Consumers borrow to feel rich in

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a world that's quietly going 
broke. 

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Now there is such thing as good 
debt. 

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Good debt is leverage that 
produces value more than it 

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costs. 
A tractor for a farmer, a 

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machine for a factory, a rental 
property that pays itself off. 

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These are all examples of good 
debt. 

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But even good debt depends on 
one thing, a stable unit of 

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account. 
If the dollars you owe are being

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printed faster than you can earn
them, then your leverage turns 

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into a trap. 
Good debt turns bad the moment 

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money loses me. 
If you tried to pay for 

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something with a piece of paper,
you might run into some trouble.

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Unless, of course, the piece of 
paper was $100 bill. 

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But what is it that makes that 
bill so much more interesting 

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and valuable than other pieces 
of paper? 

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After all, there's not much you 
can do with it. 

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You can't eat it, you can't 
build things with it, and 

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burning it is actually illegal. 
So what's the big deal? 

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Of course, you probably know the
answer $100 bill is printed by 

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the government and designated as
official currency, while other 

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pieces of paper are not. 
But that's just what makes them 

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legal. 
What makes $100 bill valuable, 

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on the other hand, is how many 
or few of them are around. 

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Throughout history, most 
currency, including the US 

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dollar, was linked to valuable 
commodities, and the amount of 

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it in circulation depended on a 
government's gold or silver 

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reserves. 
But after the US abolished the 

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system in 1971, the dollar 
became what is known as Fiat 

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money, meaning not linked to any
external resource but relying 

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instead solely on government 
policy to decide how much 

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currency to print. 
The asset that underpins the 

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dollar is just a promise, a 
promise that's enforced by the 

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world's largest military. 
We all have to keep attending. 

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The propaganda is true, and 
we're going after the terrorists

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and we're the good guys. 
It's like. 

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Patriotic. 
It's. 

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The same. 
Bullshit. 

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It's all bullshit. 
What's the point here? 

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What does victory look like? 
And it doesn't look like 

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anything that whole complex is 
in the business of war. 

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If you're not expending 
artillery for not creating new 

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weapon system, if you're not 
doing all that stuff, business 

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is bad. 
And you can see that whether 

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it's in. 
Food Whether. 

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It's in Big Pharma. 
Whatever the best intentions in 

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the beginning seem to run away, 
and then that system just 

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sustains itself. 
But the root of all the problems

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and all the pathologies we see 
stem from Fiat currency that is 

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corrupted. 
By oil technology and the 

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machine of war. 
The dollar's value depends on 

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the credibility of an empire, 
but that empire's credibility 

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depends on the continuation of 
the dollar system. 

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Both of them rely on each other.
Bitcoin flips that relationship 

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on its head. 
But before I connect the dots, 

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we're going to need some gear. 
When the grid goes down and you 

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lose your ability to communicate
with your loved ones because of 

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some network failure, sat123.com
Has the Solution for 

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yousat123.com offers some of the
most advanced communication 

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solutions in any time of price. 
And with a wide selection of 

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satellite phones, Faraday bags, 
and solar power generators, 

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you'll be covered anywhere, 
anytime. 

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And if you go to sat123.com 
right now and you put the promo 

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code simply, you'll get 15% off 
your entire purchase. 

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Keep your power, keep your 
signal, keep your contact with 

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sat123.com. 
So this Bitcoin thing, it's not 

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a promise, it's not a claim on 
someone else's time. 

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It's what they call a bearer 
asset, meaning it's value fully 

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exists within itself. 
Like gold or silver, Bitcoin is 

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the thing of value. 
Whoever holds the keys owns it. 

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There's no counterparty, there's
no IOU, no central authority 

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deciding what it's worth. 
Bitcoin's value is enforced 

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through math. 
A 21 million hard supply cap, 

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for instance. 
The two week difficulty adjust 

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proof of work system that 
converts real energy into 

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digital finality. 
It's a network that captures 

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information truthfully. 
A global shared Ledger that says

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who owns what. 
In a world where deeptakes blur 

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reality and AI can mimic every 
sound, image or word, Bitcoin 

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00:07:17,360 --> 00:07:21,680
stands as a verifiable truth. 
It says this transaction 

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00:07:21,680 --> 00:07:26,200
happened and the value exists 
and the owner is real and that, 

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believe it or not, is 
revolutionary. 

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Here's the point. 
When you hold Bitcoin, you're 

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holding something that owes 
nothing. 

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It doesn't promise yield, but it
doesn't inflict to please some 

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politician. 
It just is. 

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Bitcoin is the antithesis of 
debt. 

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It's pure settlement, final 
self-contained, sovereign. 

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Bitcoin is a tool to build, not 
to enslave. 

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So maybe the future isn't about 
escaping bad debt or chasing 

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good debt. 
Maybe it's about exiting the 

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00:07:53,680 --> 00:07:56,440
debt system entirely. 
Because once you see the pattern

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that every Fiat dollar in 
existence is a promise that can 

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00:07:59,400 --> 00:08:02,880
be broken, you start to look for
assets that can't lie. 

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And Bitcoin doesn't lie. 
They can't, right? 

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00:08:06,800 --> 00:08:09,880
And if you want to earn Bitcoin 
rather than just buying it, then

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you'll want to check out SAS 
mining.com. 

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SAS Mining runs hosted Bitcoin 
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digital gold. 
They handle the setup, the 

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maintenance, and the uptime, so 
your mining rigs work for you 

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while you sleep. 
And if you go to sasmining.com 

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$100 off your first rig. 
Book a call with one of their 

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expert team members and start 
mining today at that is the 

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00:08:37,919 --> 00:08:42,240
story of the old world, a world 
built on promises and IOU 

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Bitcoin is the story of a new 
world, a world built on proof. 

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One erodes over time and one 
endures. 

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Thank you very much for watching
this video. 

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00:08:50,120 --> 00:08:52,600
If you like what you see and you
want to see more, make sure you 

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00:08:52,600 --> 00:08:55,360
hit that like button below or 
you can subscribe to the simply 

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00:08:55,360 --> 00:08:57,040
Bitcoin channel for more content
like this. 

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00:08:57,040 --> 00:08:59,120
We're coming up with it every 
single day of the week. 

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Also do not forget to hit that 
notification bell. 

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00:09:02,200 --> 00:09:04,760
I'm oceans. 
This is beyond Bitcoin until 

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00:09:04,760 --> 00:09:05,080
next.