1
00:00:00,360 --> 00:00:05,720
Yo, Bitcoin just ripped to 
$66,000 and no one knows why, 

2
00:00:05,720 --> 00:00:09,520
but I think if we piece the if 
we piece everything together, a 

3
00:00:09,560 --> 00:00:12,920
few bullish developments have 
been happening behind closed 

4
00:00:12,920 --> 00:00:15,480
doors. 
First, BlackRock, this crazy 

5
00:00:15,480 --> 00:00:18,040
BlackRock presentation that 
we're going to play for you 

6
00:00:18,040 --> 00:00:22,000
guys, making the case that 
Bitcoin is growing exponentially

7
00:00:22,000 --> 00:00:25,360
faster than the adoption of the 
Internet and the adoption of of 

8
00:00:25,360 --> 00:00:28,000
telephones. 
Also following up on some news 

9
00:00:28,000 --> 00:00:31,720
that we did a couple weeks ago 
there there was this news 

10
00:00:31,720 --> 00:00:34,920
interview from the legacy 
mainstream media about how the 

11
00:00:34,960 --> 00:00:37,720
Middle East is adopting Bitcoin 
miners. 

12
00:00:37,720 --> 00:00:39,880
We were speculating on that last
week. 

13
00:00:40,080 --> 00:00:44,280
Now it is confirmed Bitcoin's 
most recent price rise will 

14
00:00:44,280 --> 00:00:46,880
begin to make sense. 
Once you start putting all these

15
00:00:46,880 --> 00:00:50,040
pieces together and not only 
will you begin to understand why

16
00:00:50,040 --> 00:00:53,800
Bitcoin is quietly climbing, but
you will begin to understand 

17
00:00:53,800 --> 00:00:57,640
what this next leg of the 
Bitcoin bull run could be like 

18
00:00:57,640 --> 00:00:59,960
any unlike anything you've ever 
seen before. 

19
00:01:00,200 --> 00:01:02,640
While most people have been 
bored over the last eight 

20
00:01:02,640 --> 00:01:06,560
months, it's been excruciating 
chopping sideways action today, 

21
00:01:06,560 --> 00:01:09,240
we're going to show you why this
has been incredibly healthy for 

22
00:01:09,240 --> 00:01:13,320
Bitcoin and why the exact same 
thing happened in 2020 right 

23
00:01:13,320 --> 00:01:17,200
before Bitcoin exploded by over 
600%. 

24
00:01:17,400 --> 00:01:20,880
So I think that the end of this 
year is going to be explosive, 

25
00:01:20,880 --> 00:01:24,360
literally no pun intended. 
And I also believe that this 

26
00:01:24,640 --> 00:01:28,160
this CHOP consolidation was 
actually really, really healthy 

27
00:01:28,280 --> 00:01:31,000
because it built a very solid 
foundation. 

28
00:01:31,200 --> 00:01:35,760
I mean, if I told you back in 
2021 that we are literally going

29
00:01:35,760 --> 00:01:40,920
to consolidate chop sideways at 
the all time high, you would not

30
00:01:40,920 --> 00:01:43,560
have believed me. 
So I have a couple clips lined 

31
00:01:43,560 --> 00:01:46,160
up for you guys right in the 
beginning to talk about the 

32
00:01:46,160 --> 00:01:48,520
Black Rock stuff, to talk about 
the Middle East stuff. 

33
00:01:48,720 --> 00:01:52,220
But before we jump into it, I do
want to bring up my legendary Co

34
00:01:52,220 --> 00:01:55,120
host who is always optimistic. 
Of course I'm talking about 

35
00:01:55,120 --> 00:01:56,880
optimist fields. 
How you doing bro? 

36
00:01:57,920 --> 00:02:01,240
I am doing wonderful, I do. 
I do have a low key case of the 

37
00:02:01,240 --> 00:02:04,680
Mondays guys, but once the show 
gets in, everything's good, man,

38
00:02:04,680 --> 00:02:06,440
Life's wonderful, everything's 
great. 

39
00:02:06,440 --> 00:02:09,240
I feel great. 
Can't really complain here Nico,

40
00:02:09,240 --> 00:02:12,200
things are great. 
Absolutely 100%. 

41
00:02:12,200 --> 00:02:13,320
All right, everybody, no more 
delay. 

42
00:02:13,320 --> 00:02:16,080
Let's jump into some of the 
bullish news. 

43
00:02:16,080 --> 00:02:20,480
So first of all, I just got to 
say we called this what what do 

44
00:02:20,480 --> 00:02:22,960
we say on, on simply Bitcoin 
tomorrow's news. 

45
00:02:22,960 --> 00:02:26,240
Tomorrow's Bitcoin news today. 
Yeah, yeah. 

46
00:02:26,240 --> 00:02:31,240
I mean, we called this we we, we
made an episode last week making

47
00:02:31,240 --> 00:02:34,280
the case that the Middle East 
was getting into Bitcoin. 

48
00:02:34,480 --> 00:02:37,160
And the reason we are making the
case is, of course, in the in 

49
00:02:37,160 --> 00:02:43,160
the UAE, they were lowering 
taxes and they were also the 

50
00:02:43,160 --> 00:02:46,360
Bitcoin conference is going to 
be throwing a conference in Abu 

51
00:02:46,360 --> 00:02:52,160
Dhabi called Bitcoin MENA. 
And also they that some of their

52
00:02:52,160 --> 00:02:55,920
hedge funds and some of their 
sovereign wealth funds were 

53
00:02:55,920 --> 00:02:59,720
getting into Bitcoin mining. 
But it was all like on articles.

54
00:02:59,720 --> 00:03:03,000
It was like on, you know, third 
party websites and you're 

55
00:03:03,000 --> 00:03:05,400
reading the article and you're 
like, OK, yeah, you have to take

56
00:03:05,400 --> 00:03:08,120
their word for it. 
Well, now it's confirmed. 

57
00:03:08,120 --> 00:03:11,800
This is legacy mainstream media 
talking about Bitcoin mining in 

58
00:03:11,800 --> 00:03:13,680
the United Arab Emirates. 
Let's check it out. 

59
00:03:14,080 --> 00:03:18,200
How do you think Bitcoin mining 
in the UAE is different than 

60
00:03:18,200 --> 00:03:21,000
other regions in the world? 
Where we are in UAE? 

61
00:03:21,000 --> 00:03:24,840
We we started Bitcoin mining in 
UAE around three years ago. 

62
00:03:25,000 --> 00:03:28,080
We built one of the biggest 
hydro sites in the world, which 

63
00:03:28,080 --> 00:03:30,400
uses water technology to cool 
itself. 

64
00:03:30,800 --> 00:03:33,520
It's one of the biggest in the 
region and in the world. 

65
00:03:33,800 --> 00:03:36,440
As we go on, we are trying to 
expand in the region. 

66
00:03:36,560 --> 00:03:38,880
Maybe can you share more with 
John, like what is the the 

67
00:03:38,880 --> 00:03:41,480
outsize role the UAE plays when 
it comes to crypto mining? 

68
00:03:41,480 --> 00:03:44,040
Do you have any data on what 
percentage of a hash rate is 

69
00:03:44,040 --> 00:03:46,840
coming from the region and also 
the source of electricity that 

70
00:03:46,840 --> 00:03:49,200
is being used, which is 
obviously a big component in the

71
00:03:49,200 --> 00:03:50,360
cost of it. 
Point mining Where? 

72
00:03:50,360 --> 00:03:52,560
Where does that come from when 
it comes to UAE mining? 

73
00:03:52,720 --> 00:03:56,800
Absolutely about the data you 
know to to give you exact data 

74
00:03:56,800 --> 00:04:00,040
it it would be not correct. 
But right now where we sit is 

75
00:04:00,040 --> 00:04:04,360
around 4% of the hash rate of 
the word is producing from the 

76
00:04:04,360 --> 00:04:07,080
region and but that number is 
subject to changes on a daily 

77
00:04:07,080 --> 00:04:11,600
basis as the hash rate index 
changes in sort of the energy. 

78
00:04:11,600 --> 00:04:15,120
As you know in UAE in general, 
we are moving to green as is 

79
00:04:15,120 --> 00:04:18,600
Excellency Dr. Job are 
explaining COP 28 by 2050 we 

80
00:04:18,600 --> 00:04:23,160
want to beat net 0 carbon but 
the grid is moving towards solar

81
00:04:23,280 --> 00:04:27,160
and nuclear. 
So this is incredibly bullish, 

82
00:04:27,160 --> 00:04:31,760
guys, not in itself. 
If you just play this clip by 

83
00:04:31,760 --> 00:04:33,520
itself, it doesn't mean 
anything. 

84
00:04:33,800 --> 00:04:40,400
But if you connect the dots like
it makes me so bullish for 2025,

85
00:04:40,400 --> 00:04:44,600
OK, you have the institutional 
adoption of Bitcoin, the 

86
00:04:44,600 --> 00:04:47,880
approval of the ETF. 
You have pension funds like the 

87
00:04:47,880 --> 00:04:51,520
Wisconsin Pension fund getting 
exposure to Bitcoin. 

88
00:04:51,760 --> 00:04:56,280
You have banks like JP Morgan, 
Wells Fargo getting exposure to 

89
00:04:56,280 --> 00:05:00,080
Bitcoin via the ETFs. 
You have the second largest bank

90
00:05:00,160 --> 00:05:04,960
in Europe, BNP Paribas, getting 
exposure to the ETF through 

91
00:05:05,320 --> 00:05:07,240
getting exposure to Bitcoin 
through the ETF. 

92
00:05:07,440 --> 00:05:10,800
You have Goldman Sachs with the 
traditionally very conservative 

93
00:05:10,800 --> 00:05:14,160
bank getting exposure to Bitcoin
via the ETF. 

94
00:05:14,320 --> 00:05:17,120
You have Michael Saylor 
continuing to prove that the 

95
00:05:17,120 --> 00:05:20,280
Bitcoin strategy that 
MicroStrategy has adopted is 

96
00:05:20,320 --> 00:05:24,080
just like literally destroying 
the competition. 

97
00:05:24,080 --> 00:05:30,480
He MicroStrategy has literally 
proven that just by adopting 

98
00:05:30,480 --> 00:05:34,320
Bitcoin you will out compete the
rest of the S&P 500. 

99
00:05:34,720 --> 00:05:39,240
Since MicroStrategy adopted a 
Bitcoin standard back in 2020, 

100
00:05:39,240 --> 00:05:43,440
the stock is up like 1600%. 
It is something wild. 

101
00:05:43,600 --> 00:05:47,000
Of course you have the Kingdom 
of Bhutan mining Bitcoin. 

102
00:05:47,160 --> 00:05:50,840
The Kingdom of Bhutan has 13,000
Bitcoin. 

103
00:05:50,840 --> 00:05:54,800
Like holy cow. 
Of course you have a Paraguay, 

104
00:05:55,000 --> 00:05:58,880
you have El Salvador. 
And now we have it confirmed 

105
00:05:58,880 --> 00:06:02,880
that the UAE, this very small 
country in the Middle East, 

106
00:06:03,400 --> 00:06:06,120
basically makes up 4% of the 
hash rate. 

107
00:06:06,400 --> 00:06:11,840
Like we had news that Russia, 
Russia, Vladimir Putin legalized

108
00:06:11,840 --> 00:06:14,360
Bitcoin mining. 
So you put all the pieces 

109
00:06:14,360 --> 00:06:16,680
together. 
This is exactly what Max Kaiser 

110
00:06:16,680 --> 00:06:20,720
predicted when he was talking 
about the global hash war. 

111
00:06:20,960 --> 00:06:26,600
And of course, this lines up 
perfectly for an explosive 2025.

112
00:06:26,720 --> 00:06:29,720
After we get out of this 
consolidation area. 

113
00:06:29,880 --> 00:06:35,120
Here is a clip from the digital 
assets conference that BlackRock

114
00:06:35,120 --> 00:06:37,320
hosted or at least BlackRock 
kind of presentation of. 

115
00:06:37,680 --> 00:06:40,480
And here they're they're just 
putting out the numbers. 

116
00:06:40,640 --> 00:06:45,960
The fact is that Bitcoin is 
being adopted on a faster pace 

117
00:06:46,080 --> 00:06:48,600
than the Internet and mobile 
phones. 

118
00:06:48,720 --> 00:06:51,160
That should tell you everything 
you need to know. 

119
00:06:51,320 --> 00:06:54,920
And by the way, we are still so 
freaking early to this. 

120
00:06:55,040 --> 00:06:57,880
So this is a pretty long clip. 
I'll play you guys some of it. 

121
00:06:57,880 --> 00:07:00,240
Let's check it out. 
Brock I really spend a lot of my

122
00:07:00,240 --> 00:07:02,840
time thinking about the future 
and some of the disruptive 

123
00:07:02,920 --> 00:07:05,480
changes that are impacting the 
world and society and the 

124
00:07:05,480 --> 00:07:07,640
economy and our portfolios 
around us. 

125
00:07:07,800 --> 00:07:10,160
Often times this is about 
disruptive technologies. 

126
00:07:10,160 --> 00:07:12,000
Often times it's about societal 
changes. 

127
00:07:12,880 --> 00:07:15,520
But what we found with 
blockchain and digital assets is

128
00:07:15,520 --> 00:07:18,080
that in some ways this is one of
the fastest growing technologies

129
00:07:18,080 --> 00:07:19,960
we've seen in the last few 
years. 

130
00:07:20,680 --> 00:07:22,680
On the right hand side of the 
chart, you can see our adoption 

131
00:07:22,680 --> 00:07:23,840
curve. 
This is just looking at how 

132
00:07:23,840 --> 00:07:26,560
quickly certain assets are 
adopted by society. 

133
00:07:26,760 --> 00:07:28,560
And you can see that blockchain 
and digital assets are being 

134
00:07:28,560 --> 00:07:31,360
adopted faster than major 
revolutions before it, whether 

135
00:07:31,360 --> 00:07:33,200
that's the Internet or whether 
that's cell phones. 

136
00:07:33,920 --> 00:07:35,480
And there's a couple of reasons 
for this. 

137
00:07:35,800 --> 00:07:38,120
The first reason is just we're 
living in a more digital economy

138
00:07:38,120 --> 00:07:40,520
than ever before. 
If we're consuming things 

139
00:07:40,520 --> 00:07:43,160
online, streaming videos, 
playing video games, buying 

140
00:07:43,160 --> 00:07:46,760
digital content, it makes sense 
to have digitally native assets 

141
00:07:46,760 --> 00:07:49,440
to conduct those transactions, 
particularly when there's 

142
00:07:49,440 --> 00:07:52,160
Secondly, and importantly, in a 
year like this year, where over 

143
00:07:52,160 --> 00:07:54,840
half the world's population is 
voting for new leadership, not 

144
00:07:54,840 --> 00:07:57,800
just the elections in the United
States, Mexico and India and the

145
00:07:57,800 --> 00:08:00,560
European Union, we're seeing 
more geopolitical risk than 

146
00:08:00,560 --> 00:08:02,640
before. 
And in fact, declining trust in 

147
00:08:02,640 --> 00:08:06,080
institutions, whether that's 
trust in government institutions

148
00:08:06,080 --> 00:08:08,880
for maintaining peace and order,
whether that's trust in central 

149
00:08:08,880 --> 00:08:11,040
banks in terms of keeping 
inflation under control. 

150
00:08:11,400 --> 00:08:14,400
More distrust has exacerbated a 
need for a global monetary 

151
00:08:14,400 --> 00:08:17,040
alternative. 
The third we're seeing is 

152
00:08:17,040 --> 00:08:19,600
demographic changes, the rise of
the millennial and Gen. 

153
00:08:19,600 --> 00:08:21,600
Z generation. 
Millennials, at least in the 

154
00:08:21,600 --> 00:08:24,040
United States, are set to 
inherit trillions of dollars, 

155
00:08:24,280 --> 00:08:27,240
are entering peak earnings years
in their in their work and are 

156
00:08:27,320 --> 00:08:29,360
increasingly playing an 
important role in the economy. 

157
00:08:29,720 --> 00:08:31,520
And millennials are very 
different from previous 

158
00:08:31,520 --> 00:08:35,400
generations because they, we, 
me, we're the 1st generation to 

159
00:08:35,400 --> 00:08:37,520
be digitally native. 
Growing up with the Internet, 

160
00:08:37,520 --> 00:08:40,720
growing up with computers, we 
understand digital better than 

161
00:08:40,720 --> 00:08:43,240
previous generations. 
And that means we're more likely

162
00:08:43,240 --> 00:08:46,520
to adopt digital currencies. 
And then finally, what I think 

163
00:08:46,520 --> 00:08:49,200
has been really important to 
BlackRock in our journey in the 

164
00:08:49,200 --> 00:08:52,000
digital assets space has been 
the maturing of infrastructure 

165
00:08:52,000 --> 00:08:54,800
in digital assets. 
We've seen billions of dollars 

166
00:08:54,800 --> 00:08:56,960
move in venture capital and 
private equity into digital 

167
00:08:56,960 --> 00:08:59,520
assets to fund incredible 
innovation in blockchain. 

168
00:08:59,680 --> 00:09:02,640
We've seen the regulatory 
environment evolve to get more 

169
00:09:02,640 --> 00:09:04,760
constructive around digital 
assets and how people can buy 

170
00:09:04,760 --> 00:09:06,680
them. 
We've seen extremely talented 

171
00:09:06,680 --> 00:09:09,400
people leave traditional finance
to go into D fi to help lead 

172
00:09:09,400 --> 00:09:12,000
some of these innovations. 
And all of this infrastructure 

173
00:09:12,000 --> 00:09:13,880
has really matured over the last
five years. 

174
00:09:14,160 --> 00:09:17,280
So between all of these 
tailwinds, it's really creating 

175
00:09:17,480 --> 00:09:20,080
the opportunity for digital 
assets to gain broader adoption 

176
00:09:20,080 --> 00:09:21,560
across more investors around the
world. 

177
00:09:24,200 --> 00:09:25,720
So just kind of leave it at 
that. 

178
00:09:25,720 --> 00:09:27,760
I mean, Opti, I'm going to pass 
it on to you, man. 

179
00:09:27,760 --> 00:09:32,080
Like this is the perfect storm 
that is brewing for an 

180
00:09:32,080 --> 00:09:38,880
explosive, explosive end of Q4 
heading into 2025. 

181
00:09:39,200 --> 00:09:44,760
And if the Bitcoin cycles repeat
themselves, man, like I'm so 

182
00:09:44,760 --> 00:09:49,000
beyond excited, not only from a 
price standpoint, but also from 

183
00:09:49,000 --> 00:09:52,000
a revolutionary standpoint. 
Like, you know, you heard the 

184
00:09:52,160 --> 00:09:56,040
Black Rock BlackRock executive 
talking about it there how 

185
00:09:56,200 --> 00:10:02,600
millennials were just so much 
more open to adopting, to use 

186
00:10:02,600 --> 00:10:07,480
Blackrock's own words, not mine,
a non sovereign alternative to 

187
00:10:07,960 --> 00:10:12,440
local Fiat currencies because of
the rise and distrust in 

188
00:10:12,440 --> 00:10:15,720
institutions. 
So overall this is incredibly 

189
00:10:15,720 --> 00:10:18,480
bullish stuff. 
You have countries all over the 

190
00:10:18,480 --> 00:10:22,920
world just confirmed UAE. 
They they, they basically 

191
00:10:23,200 --> 00:10:26,600
represent 4% of the hash rate. 
I didn't know that was the case.

192
00:10:26,800 --> 00:10:29,280
Like, we were reading that 
article last week about how they

193
00:10:29,280 --> 00:10:32,120
were lowering taxes and all that
stuff, and now this guy just 

194
00:10:32,120 --> 00:10:33,680
comes out of nowhere. 
It's like, yeah, we've been 

195
00:10:33,680 --> 00:10:37,080
immersion mining for years now 
and we actually represent 4% of 

196
00:10:37,080 --> 00:10:39,960
the hash rate. 
How many more countries around 

197
00:10:39,960 --> 00:10:43,520
the world are secretly mining 
Bitcoin or adopting Bitcoin that

198
00:10:43,520 --> 00:10:46,600
we don't know about? 
We would not have found out 

199
00:10:46,600 --> 00:10:49,960
about the Kingdom of Bhutan if 
it wasn't for the Celsius 

200
00:10:49,960 --> 00:10:53,440
lawsuit leaking the fact that 
they were a part of it. 

201
00:10:53,840 --> 00:10:57,000
If it wasn't for the Celsius 
lawsuit, the Kingdom of Bhutan 

202
00:10:57,000 --> 00:10:59,640
wouldn't have said anything. 
They would have just kept it to 

203
00:10:59,640 --> 00:11:02,680
themselves, right? 
So how many more countries 

204
00:11:02,680 --> 00:11:05,160
around the world are either 
secretly mining Bitcoin, 

205
00:11:05,360 --> 00:11:08,360
adopting Bitcoin, and of course,
for anyone who's a Bitcoin 

206
00:11:08,360 --> 00:11:11,760
hodler, for anyone who believes 
in the Bitcoin revolution, all 

207
00:11:11,760 --> 00:11:15,040
of this is incredibly bullish 
because all of a sudden those 

208
00:11:15,040 --> 00:11:18,200
institutions and those 
countries, their incentives 

209
00:11:18,200 --> 00:11:21,360
start to line up with yours. 
And all of a sudden, as a 

210
00:11:21,360 --> 00:11:25,600
sovereign individual, you are 
going to, it's going to get to a

211
00:11:25,600 --> 00:11:30,160
point where you're going to have
the power to be able to pick and

212
00:11:30,160 --> 00:11:34,360
choose what jurisdiction you 
want to live in based on the 

213
00:11:34,360 --> 00:11:36,840
laws and regulations of that 
locality. 

214
00:11:37,000 --> 00:11:39,240
Anyways, Opti, what's your take 
on all this, man? 

215
00:11:39,240 --> 00:11:41,640
Incredibly bullish news coming 
out of the UAE. 

216
00:11:41,760 --> 00:11:43,760
And of course, incredibly 
bullish news coming out of 

217
00:11:43,760 --> 00:11:46,600
BlackRock. 
Once again, Larry Fink wins 

218
00:11:46,600 --> 00:11:49,160
employee of the month. 
Can't thank him enough. 

219
00:11:49,160 --> 00:11:52,600
Anyways, Opti, what's your take?
Yeah, First of all, shouts out 

220
00:11:52,600 --> 00:11:57,200
to Uncle Larry pumping our bags.
But yeah, like the UAE news, 

221
00:11:57,440 --> 00:11:59,520
we've been covering it for a 
while now. 

222
00:11:59,520 --> 00:12:02,360
We've heard a lot of rumors 
about that this was the case. 

223
00:12:02,360 --> 00:12:06,200
And to actually hear someone 
that is more familiar with the 

224
00:12:06,200 --> 00:12:09,920
situation say essentially like, 
yeah, we have 4% of the world's 

225
00:12:09,920 --> 00:12:12,560
hash rate. 
That's that's pretty crazy. 

226
00:12:12,640 --> 00:12:15,080
You know, that that that's a 
pretty big number there. 

227
00:12:15,080 --> 00:12:20,480
And it just goes to show that 
this is catching on and more 

228
00:12:20,480 --> 00:12:23,920
people are waking up to this 
whole Bitcoin thing going on 

229
00:12:23,920 --> 00:12:25,920
right now. 
And I've been saying for a 

230
00:12:25,920 --> 00:12:29,040
while, and obviously we've been 
covering the data on the show 

231
00:12:29,360 --> 00:12:33,640
and we, you know, we, we really 
can only see from news stories 

232
00:12:33,640 --> 00:12:37,200
and information trickling out 
that this is catching on. 

233
00:12:37,200 --> 00:12:39,920
And I've been saying that for a 
minute, Nico, the exact words 

234
00:12:39,920 --> 00:12:42,560
you said that there's a perfect 
storm on the horizon. 

235
00:12:42,840 --> 00:12:47,040
And it seems ever since the ETF 
got released, it seems since 

236
00:12:47,040 --> 00:12:49,720
ever since, you know, Trump even
announced that he's being more 

237
00:12:49,720 --> 00:12:52,440
pro Bitcoin, or rather more 
crypto, though it seems like the

238
00:12:52,440 --> 00:12:55,640
game theory has shifted and 
obviously shifted in our 

239
00:12:55,640 --> 00:12:59,200
direction. 
And I really do think that 2025 

240
00:12:59,200 --> 00:13:03,280
is going to be a big year. 
Obviously, as someone that's in 

241
00:13:03,280 --> 00:13:05,800
the Bitcoin space, maybe someone
newer to the Bitcoin space, you 

242
00:13:05,800 --> 00:13:09,680
always kind of want to point at 
certain news stories and use 

243
00:13:09,680 --> 00:13:12,720
that as, you know, the reasons 
for the Bitcoin price to pop up.

244
00:13:13,040 --> 00:13:17,240
Maybe I'm still, you know, a 
Luddite here, but I just think 

245
00:13:17,240 --> 00:13:19,760
it's still kind of the cycles 
playing out right now. 

246
00:13:19,760 --> 00:13:22,120
I don't think we're out of this 
cycle theory yet. 

247
00:13:22,560 --> 00:13:26,080
I don't think we're in super 
cycle territory yet, but it does

248
00:13:26,080 --> 00:13:29,720
feel like there's a lot of data 
points and this time does feel 

249
00:13:29,720 --> 00:13:32,680
different. 
Obviously, I feel like a cliche 

250
00:13:32,680 --> 00:13:35,600
Bitcoiner here because we say 
this every time the price starts

251
00:13:35,600 --> 00:13:37,200
pumping. 
Like this time's different, I 

252
00:13:37,200 --> 00:13:40,200
swear, guys. 
But this time is fundamentally 

253
00:13:40,200 --> 00:13:42,480
different. 
Now that we have institutional 

254
00:13:42,480 --> 00:13:45,720
capital being able to allocate 
to Bitcoin, we're seeing nation 

255
00:13:45,720 --> 00:13:47,520
state adoption of Bitcoin play 
out. 

256
00:13:47,880 --> 00:13:50,640
It does feel like this cycle 
will be different. 

257
00:13:50,640 --> 00:13:53,440
Does that mean that we're going 
to get out of the cycle theory 

258
00:13:53,440 --> 00:13:56,400
in the next four years? 
I'm still kind of hesitant to 

259
00:13:56,400 --> 00:13:58,240
say that we're out of the cycle 
theory. 

260
00:13:58,480 --> 00:14:02,160
But you know, historically 
speaking, it's usually I forget 

261
00:14:02,160 --> 00:14:05,840
that the exact number, but I'm 
pretty sure that the number that

262
00:14:05,840 --> 00:14:09,960
we've been using historically is
that basically 170 days after 

263
00:14:09,960 --> 00:14:12,120
the halving is when the price 
starts to run. 

264
00:14:12,360 --> 00:14:16,440
And we're at I think we're 
around like 177 days since after

265
00:14:16,440 --> 00:14:19,600
the halving. 
So it does seem to be aligning 

266
00:14:19,600 --> 00:14:22,680
perfectly to historical data. 
Of course, we only have three or

267
00:14:22,680 --> 00:14:27,000
four data points on this and 
we're still kind of seeing if 

268
00:14:27,280 --> 00:14:28,600
the cycle theories are playing 
out. 

269
00:14:28,600 --> 00:14:31,280
But I, I think it's just kind 
of, this is the time when 

270
00:14:31,280 --> 00:14:34,080
Bitcoin starts to run. 
But with all these other data 

271
00:14:34,080 --> 00:14:37,600
points, it does feel a little 
different and things are 

272
00:14:37,600 --> 00:14:40,800
changing. 
Yeah, 100 percent, 100%. 

273
00:14:40,800 --> 00:14:44,240
All right, ladies and gentlemen,
before we get into the rest of 

274
00:14:44,240 --> 00:14:47,520
the show, guys, stay tuned 
because we have so much news to 

275
00:14:47,520 --> 00:14:51,080
cover, so much bullish news. 
Of course, the double standards 

276
00:14:51,080 --> 00:14:55,080
behind the DOJ, how they treat 
banks, and then how they treat 

277
00:14:55,080 --> 00:14:57,200
the rest of the industry, 
something that we've been 

278
00:14:57,200 --> 00:15:00,720
covering for quite a while now. 
And, of course, Elon Musk's 

279
00:15:00,760 --> 00:15:04,200
historic rocket. 
Landing. 

280
00:15:04,200 --> 00:15:06,120
I mean, it wasn't even a 
landing. 

281
00:15:06,120 --> 00:15:09,680
It was being caught by like this
giant arm, which was it was 

282
00:15:09,680 --> 00:15:11,520
crazy. 
And I think it's a kind of 

283
00:15:11,520 --> 00:15:15,560
indicative of, of what 
Bitcoiners are advocating for. 

284
00:15:15,560 --> 00:15:18,280
Like one of the one of the major
talking points that you always 

285
00:15:18,280 --> 00:15:20,360
hear is like, who will build the
roads? 

286
00:15:20,640 --> 00:15:24,840
And what Bitcoiners are going to
advocate for is like the private

287
00:15:24,840 --> 00:15:30,040
sector tends to do a much better
job at resource allocation than 

288
00:15:30,040 --> 00:15:33,760
the public sector. 
And I think that's something 

289
00:15:33,760 --> 00:15:38,400
that people have to people just,
I don't want to say come to 

290
00:15:38,400 --> 00:15:42,240
terms, it's a little bit strong,
but people just, I think you 

291
00:15:42,240 --> 00:15:44,680
should be aware of it because 
that's one of the that's going 

292
00:15:44,680 --> 00:15:47,040
to be one of the talking points 
that you're going to hear from a

293
00:15:47,040 --> 00:15:52,080
lot of people when Bitcoiners 
advocate for smaller and smaller

294
00:15:52,080 --> 00:15:55,280
and smaller government. 
Because a lot of the economic 

295
00:15:55,280 --> 00:15:58,560
woes that people are currently 
feeling, specifically on the 

296
00:15:58,560 --> 00:16:03,680
rise of the cost of living. 
As much as politicians want to 

297
00:16:03,680 --> 00:16:06,680
gaslight you into believing 
that, you know, it's everything 

298
00:16:06,680 --> 00:16:10,040
and anything, but the fact that 
they're debasing the currency, a

299
00:16:10,040 --> 00:16:13,960
lot of the, a lot of the reason 
as to why people can't afford 

300
00:16:13,960 --> 00:16:18,240
things is because of way too 
much government spending. 

301
00:16:18,440 --> 00:16:21,600
That's the reality of it. 
And here's the thing, if the 

302
00:16:21,600 --> 00:16:24,840
government spending was 
justified, then OK, you know, 

303
00:16:24,840 --> 00:16:27,680
you can make an argument and you
could say, OK, you know, my life

304
00:16:27,680 --> 00:16:29,840
is better for it. 
But I would like to make the 

305
00:16:29,840 --> 00:16:33,720
case that I think the private 
sector could not only do a lot 

306
00:16:33,720 --> 00:16:36,080
of the things that the 
government does, they could do 

307
00:16:36,080 --> 00:16:40,480
it a lot in a lot more efficient
manner and in a hell of a lot 

308
00:16:40,480 --> 00:16:42,080
cheaper. 
That's my case. 

309
00:16:42,800 --> 00:16:47,080
But anyways, before we jump into
that, I do want to give a very 

310
00:16:47,080 --> 00:16:50,600
special shout out to Simply 
Bitcoins lead sponsor. 

311
00:16:51,000 --> 00:16:54,000
We wouldn't be here without our 
sponsors, and of course, our 

312
00:16:54,000 --> 00:16:59,080
lead sponsor is bitcoinwell.com.
Start enabling your independence

313
00:16:59,080 --> 00:17:02,320
today with the fastest and 
safest way to buy Bitcoin in 

314
00:17:02,320 --> 00:17:04,960
Canada and the USA. 
Buy real Bitcoin. 

315
00:17:05,040 --> 00:17:08,119
And to get started, all you got 
to do is you put in your e-mail 

316
00:17:08,119 --> 00:17:10,960
address right here on 
bitcoinwell.com. 

317
00:17:11,079 --> 00:17:15,040
It's a clear 1% spread it's 
obviously Bitcoin only and what 

318
00:17:15,040 --> 00:17:18,119
makes Bitcoin well different is 
that it's completely non 

319
00:17:18,119 --> 00:17:23,480
custodial, empowering sovereign 
ownership with free automatic 

320
00:17:23,640 --> 00:17:26,560
self custody. 
So what does that mean That 

321
00:17:26,560 --> 00:17:30,600
means that every time you buy 
Bitcoin on Bitcoin well, as soon

322
00:17:30,600 --> 00:17:35,160
as the funds clear, it goes 
straight from your bit from 

323
00:17:35,160 --> 00:17:38,040
Bitcoin Well straight to 
yourself Custody Bitcoin wallet 

324
00:17:38,040 --> 00:17:41,280
address doesn't even give you 
the ability to leave it on the 

325
00:17:41,280 --> 00:17:44,200
exchange. 
By the way, every time you buy 

326
00:17:44,200 --> 00:17:47,520
Bitcoin on Bitcoin Well, you 
earn Bitcoin well points and you

327
00:17:47,520 --> 00:17:50,520
could use those points towards 
the Bitcoin wishing well 

328
00:17:50,520 --> 00:17:52,520
contest. 
So we'll do it for you guys 

329
00:17:52,520 --> 00:17:55,920
right here get your lightning 
while it's ready First person to

330
00:17:55,920 --> 00:17:58,440
scan the QR code wins today's 
prize. 

331
00:17:58,440 --> 00:18:03,400
Today's prize is 500 satoshis. 
Every time you toss a coin into 

332
00:18:03,400 --> 00:18:06,280
the Bitcoin wishing well, you 
have an opportunity to win up to

333
00:18:06,280 --> 00:18:10,280
1,000,000 Satoshis. 
I heard the other day that on 

334
00:18:10,280 --> 00:18:13,640
BTC sessions channel someone won
240,000. 

335
00:18:13,880 --> 00:18:16,960
I think on our channel the 
highest the wards have been have

336
00:18:16,960 --> 00:18:19,280
been 24,000. 
That happened 2 days 

337
00:18:19,280 --> 00:18:21,280
back-to-back. 
So you know you're off, you're 

338
00:18:21,320 --> 00:18:24,160
off. 
It's 210,000 and 21,000. 

339
00:18:24,440 --> 00:18:26,920
Thank you, thank you, Opti, but 
you, you never know. 

340
00:18:26,920 --> 00:18:29,720
You never know. 
So if you use promo code simply 

341
00:18:29,720 --> 00:18:33,240
BTC to sign up to 
bitcoinbitcoinwell.com today, 

342
00:18:33,440 --> 00:18:37,120
you get 3 tosses into the 
Bitcoin wishing well absolutely 

343
00:18:37,120 --> 00:18:38,720
free. 
All right, ladies and gentlemen,

344
00:18:39,200 --> 00:18:41,000
let's get to numbers. 
We have lots to talk about. 

345
00:18:41,000 --> 00:18:51,160
Let's check it out. 
All right, everybody, before we 

346
00:18:51,160 --> 00:18:53,800
jump into it, I do want to give 
a shout out to our sponsor, 

347
00:18:53,800 --> 00:18:56,080
Stamp Seed. 
Usually when you buy yourself a 

348
00:18:56,080 --> 00:18:58,880
hardware wallet, it comes with a
piece of paper and you're meant 

349
00:18:58,880 --> 00:19:01,720
to write in your seed words on 
that piece of paper. 

350
00:19:02,080 --> 00:19:06,240
Problem is that paper is prone 
to water damage, fire damage. 

351
00:19:06,240 --> 00:19:09,040
Your dog could eat it. 
That's not the proper way to 

352
00:19:09,040 --> 00:19:13,000
store your generational wealth. 
The proper way is to literally 

353
00:19:13,040 --> 00:19:18,680
stamp your seed, your seed 
phrase into a plate of titanium.

354
00:19:18,880 --> 00:19:22,160
And that's exactly what the 
Stamp Seed kit allows you to do.

355
00:19:22,560 --> 00:19:24,760
It's a titanium seed phrase 
storage kit. 

356
00:19:24,960 --> 00:19:27,120
It comes with the hammer. 
It comes with the letter 

357
00:19:27,120 --> 00:19:29,960
stamping tools. 
It comes with the anvil, comes 

358
00:19:29,960 --> 00:19:33,320
with everything you need so that
from the privacy of your own 

359
00:19:33,320 --> 00:19:37,920
home, you can literally letter 
by letter, stamp your seed into 

360
00:19:37,960 --> 00:19:41,440
a plate of titanium which is 
going to survive the test of 

361
00:19:41,440 --> 00:19:44,160
time. 
It's they put a blowtorch to it,

362
00:19:44,160 --> 00:19:46,720
it survived. 
They pressed it with like a 

363
00:19:46,720 --> 00:19:48,840
press, It survived. 
I got crushed. 

364
00:19:49,040 --> 00:19:52,280
The data survived. 
They put it in salt water, the 

365
00:19:52,280 --> 00:19:54,560
data survived. 
Your dog's probably not going to

366
00:19:54,560 --> 00:19:56,240
want to eat. 
Eat a plate of titanium. 

367
00:19:56,480 --> 00:20:00,920
This is the proper way to secure
your generational wealth. 

368
00:20:01,160 --> 00:20:04,160
Your seed words. 
Get yourself a stamp seed 

369
00:20:04,160 --> 00:20:06,480
titanium seed frayed storage kit
today. 

370
00:20:06,680 --> 00:20:11,400
Use promo code simply to get 15%
off anything on the store. 

371
00:20:11,520 --> 00:20:14,680
Scan the QR code or check the 
link in the video description. 

372
00:20:14,920 --> 00:20:17,680
At the time of recording the 
Bitcoin price, we're a little 

373
00:20:17,680 --> 00:20:19,800
bit down. 
We were at 66 K this morning. 

374
00:20:19,960 --> 00:20:24,880
We're at 65,750 sats for a 
dollar 1000. 

375
00:20:24,960 --> 00:20:33,560
And 521 block height 865,626 
realize monetary inflation 1.3% 

376
00:20:33,720 --> 00:20:38,000
market capitalization 1.3 
trillion Bitcoin versus gold 

377
00:20:38,000 --> 00:20:49,080
market cap 7.03% money supply 
19,767,364 BTC percentage issued

378
00:20:49,280 --> 00:20:53,760
94.13%. 
In the grand scheme of things, 

379
00:20:53,880 --> 00:20:57,880
we are just getting the party 
started as the theme of today's 

380
00:20:57,880 --> 00:21:00,760
show. 
Anyways, I wanted to move on to 

381
00:21:00,760 --> 00:21:04,760
something that I believe is 
extremely hypocritical because 

382
00:21:04,760 --> 00:21:07,360
it's a double standard. 
And one of the things that I'll 

383
00:21:07,360 --> 00:21:11,560
say is that remember why Bitcoin
was discovered. 

384
00:21:11,640 --> 00:21:15,120
Remember why Bitcoin was 
invented by Satoshi in the 

385
00:21:15,120 --> 00:21:18,800
genesis block, it says, 
Chancellor, on the brink of the 

386
00:21:18,800 --> 00:21:23,160
second bailout for banks, 
Satoshi inherently knew that the

387
00:21:23,200 --> 00:21:26,040
US government or governments 
around the world, we're going to

388
00:21:26,040 --> 00:21:29,560
continue to bail out banks. 
They were going to continue to 

389
00:21:29,560 --> 00:21:32,880
bail out central banks. 
And there's there's evil 

390
00:21:32,880 --> 00:21:37,240
alliance between central banks 
and governments where central 

391
00:21:37,240 --> 00:21:40,840
banks essentially funds all the 
government spending. 

392
00:21:41,000 --> 00:21:44,160
And of course, politicians 
create a regular vote so that 

393
00:21:44,160 --> 00:21:46,520
the central banks can continue 
doing this. 

394
00:21:46,960 --> 00:21:50,800
The problem is, as much as 
governments have pitched us on 

395
00:21:50,800 --> 00:21:54,400
the idea that central banks 
actually introduced stability to

396
00:21:54,400 --> 00:21:58,640
the economy, it's important to 
remember that this two largest 

397
00:21:58,640 --> 00:22:03,960
financial crises in world 
history, the 2008 recession and 

398
00:22:03,960 --> 00:22:10,280
of course the 1929 to 1933 the 
Great Depression, all happened 

399
00:22:10,280 --> 00:22:13,440
under central banking. 
I also don't think it's a 

400
00:22:13,440 --> 00:22:18,440
coincidence that the two largest
world wars in world history, 

401
00:22:18,600 --> 00:22:23,560
World War One and World War 2, 
all happened during central 

402
00:22:23,560 --> 00:22:25,280
banking. 
I don't think any of that is a 

403
00:22:25,280 --> 00:22:27,560
coincidence. 
Now, why am I saying all of 

404
00:22:27,560 --> 00:22:29,400
this? 
Well, I want to highlight the 

405
00:22:29,400 --> 00:22:34,000
double standard between how the 
US government treats people that

406
00:22:34,000 --> 00:22:38,040
are part of our industry rather 
than how they treat people that 

407
00:22:38,040 --> 00:22:41,080
are officially part of the 
banking industry. 

408
00:22:41,280 --> 00:22:45,440
So of course, we all know that 
the finance founder CZ was 

409
00:22:45,440 --> 00:22:48,560
sentenced to four months in 
prison after plea deal. 

410
00:22:48,800 --> 00:22:54,480
So finance CZ, the finance 
founder CZ pleaded guilty to 

411
00:22:54,480 --> 00:22:57,680
money laundering violations in 
November and was sentenced to 

412
00:22:57,680 --> 00:22:59,680
four months in prison on 
Tuesday. 

413
00:23:00,040 --> 00:23:02,720
This isn't just an isolated 
incident. 

414
00:23:05,440 --> 00:23:11,320
Arthur Hayes, CEO of Bitmex 
Arthur Hayes in his plea deal 

415
00:23:11,520 --> 00:23:16,000
guilty to 1 count of violated 
Bank Secrecy Act in February and

416
00:23:16,000 --> 00:23:19,800
faced a sentence of up to 12 
months in prison. 

417
00:23:20,120 --> 00:23:24,720
And of course, we all know what 
happened to the Samurai 

418
00:23:24,720 --> 00:23:27,400
developers. 
First they started with the 

419
00:23:27,400 --> 00:23:31,560
Tornado Cash developers. 
Once they set precedent and the 

420
00:23:32,600 --> 00:23:38,240
Coin Center case was was 
dismissed by a judge. 

421
00:23:38,600 --> 00:23:42,600
Then they shortly after they 
attacked the Samurai Wallet 

422
00:23:42,600 --> 00:23:45,240
developers and the US 
government, specifically 

423
00:23:45,240 --> 00:23:48,760
Department of Justice, accused 
the two developers with 

424
00:23:48,760 --> 00:23:52,240
operating Samurai Wallet, an 
unlicensed money transmitting 

425
00:23:52,240 --> 00:23:56,800
business that executed over $2 
billion in unlawful transactions

426
00:23:56,920 --> 00:24:00,280
and laundered over 100 million 
in criminal proceeds. 

427
00:24:00,520 --> 00:24:04,160
Now you'll hear, you'll see a 
common theme between all of 

428
00:24:04,160 --> 00:24:07,720
this. 
So whether it's CZ, Arthur Hayes

429
00:24:07,880 --> 00:24:13,240
or Bitcoin privacy developers, 
they all got locked in a box. 

430
00:24:13,440 --> 00:24:17,920
They were arrested, they were 
put in a box because of what 

431
00:24:17,920 --> 00:24:20,080
they were doing. 
But here's the problem. 

432
00:24:20,520 --> 00:24:22,560
The problem is the double 
standard. 

433
00:24:23,000 --> 00:24:27,760
The problem is it's rules for 
thee but not for me. 

434
00:24:28,000 --> 00:24:32,280
That is the fundamental issue. 
So here's Peter St. 

435
00:24:32,280 --> 00:24:34,840
Onge and he says you'd go to 
jail for decades. 

436
00:24:35,040 --> 00:24:37,560
They just pay a fine. 
At some point. 

437
00:24:37,640 --> 00:24:40,720
It's licensed crime. 
And I would make the case that 

438
00:24:41,000 --> 00:24:43,600
they just see it as a cost of 
doing business. 

439
00:24:43,920 --> 00:24:50,080
Why aren't any TD executives 
like why, why, why don't they 

440
00:24:50,080 --> 00:24:56,200
get held accountable for this? 
Let's check out the official DOJ

441
00:24:56,200 --> 00:24:59,920
press conference held by 
Attorney General Merrick 

442
00:24:59,920 --> 00:25:09,080
Garland. 
I'm not hearing anything, Nico. 

443
00:25:13,160 --> 00:25:14,800
Oh is it glitching out 
sometimes? 

444
00:25:14,800 --> 00:25:16,760
It does this here. 
Let me try that. 

445
00:25:22,760 --> 00:25:24,720
How about now, Opti? 
I'm still not hearing anything. 

446
00:25:26,040 --> 00:25:27,840
OK, unfortunately, guys, Yeah, 
let me. 

447
00:25:27,960 --> 00:25:29,160
See if I can pull it up real 
quick. 

448
00:25:29,480 --> 00:25:33,440
Yeah, so while Opti does that, 
I'll, I'll kind of narrate this.

449
00:25:34,600 --> 00:25:36,800
But unfortunately, guys, here's 
the deal. 

450
00:25:36,920 --> 00:25:43,120
Look, so TD Bank fined $3 
billion for enabling drug cartel

451
00:25:43,120 --> 00:25:47,640
money laundering, the largest 
penalty of its kind in U.S. 

452
00:25:47,640 --> 00:25:50,760
history. 
So here Opti has it pulled up. 

453
00:25:50,760 --> 00:25:55,600
Let's see if that works. 
One, before we get started, I 

454
00:25:55,600 --> 00:26:00,160
want to extend my sympathy to 
the millions of Americans who've

455
00:26:00,160 --> 00:26:03,400
had their lives turned upside 
down by Hurricane Milton and 

456
00:26:03,400 --> 00:26:06,480
Hurricane Helene. 
I know I speak for all of us and

457
00:26:06,480 --> 00:26:09,720
expressing my gratitude to the 
first responders on the ground 

458
00:26:10,160 --> 00:26:11,480
who are carrying out rescue 
missions. 

459
00:26:12,080 --> 00:26:14,360
And I want to thank all the 
volunteers who are helping their

460
00:26:14,360 --> 00:26:16,080
neighbors get through these 
storms. 

461
00:26:17,240 --> 00:26:18,920
Now to the subject of today's 
announcement. 

462
00:26:19,520 --> 00:26:23,000
Today, TD Bank pled guilty to 
multiple felonies, including 

463
00:26:23,000 --> 00:26:26,040
conspiring to violate the Bank 
Secrecy Act and commit money 

464
00:26:26,040 --> 00:26:28,280
laundering. 
TD Bank has also agreed to a 

465
00:26:28,280 --> 00:26:32,360
$1.8 billion criminal penalty. 
Combined with civil enforcement 

466
00:26:32,360 --> 00:26:35,440
actions announced today by other
agencies, the United States will

467
00:26:35,520 --> 00:26:39,160
be imposing a total of 
approximately $3 billion against

468
00:26:39,160 --> 00:26:42,280
TD Bank. 
TD Bank created an environment 

469
00:26:42,280 --> 00:26:45,360
that allowed financial crime to 
flourish by making its services 

470
00:26:45,360 --> 00:26:47,560
convenient for criminals. 
It became 1. 

471
00:26:48,160 --> 00:26:51,600
Today, TD Bank became the 
largest bank in U.S. history to 

472
00:26:51,600 --> 00:26:54,720
plead guilty to Bank Secrecy Act
program failures and the first 

473
00:26:54,720 --> 00:26:57,520
bank in history to plead guilty 
to conspiracy to commit money 

474
00:26:57,520 --> 00:27:00,160
laundering. 
This is also the largest ever 

475
00:27:00,160 --> 00:27:02,840
penalty under the Bank Secrecy 
Act and the first time the 

476
00:27:02,840 --> 00:27:06,160
Justice Department has assessed 
a daily fine against a bank. 

477
00:27:06,960 --> 00:27:10,040
As part of the plea agreement, 
TD Bank will fundamentally 

478
00:27:10,040 --> 00:27:13,240
restructure its corporate 
compliant program and its US 

479
00:27:13,240 --> 00:27:16,400
based bank, which is the 10th 
largest in the United States. 

480
00:27:16,960 --> 00:27:19,320
The bank has also agreed to the 
imposition of a three-year 

481
00:27:19,320 --> 00:27:21,840
monitor ship and a five year 
term of probation. 

482
00:27:22,680 --> 00:27:25,600
While the bank has started it's 
remediation, it will continue to

483
00:27:25,600 --> 00:27:27,920
remediate and improve it's anti 
money laundering compliance 

484
00:27:27,920 --> 00:27:31,480
program to ensure that the bank 
operates lawfully and safely 

485
00:27:31,520 --> 00:27:37,600
moving forward. 
OK, so the problem ladies and 

486
00:27:37,600 --> 00:27:41,400
gentlemen is the double 
standards, OK? 

487
00:27:43,000 --> 00:27:46,840
The, the, the problem is, is, is
this OK? 

488
00:27:48,520 --> 00:27:55,400
So same, same violation, money 
laundering, right, with Arthur 

489
00:27:55,400 --> 00:28:00,760
Hayes, one count of violating 
the Bank Secrecy Act right here 

490
00:28:03,200 --> 00:28:06,320
that executed over 2 billion 
unlawful transactions and 

491
00:28:06,320 --> 00:28:10,920
laundered over $100 million in 
criminal proceeds, according to 

492
00:28:10,920 --> 00:28:16,200
the DOJ. 
This, they wandered 

493
00:28:16,280 --> 00:28:21,880
significantly more. 
Why I, I, I don't understand 

494
00:28:21,920 --> 00:28:30,040
why, like I, I don't know what 
to say. 

495
00:28:31,280 --> 00:28:36,720
They did the same thing that our
industry did, but because 

496
00:28:36,720 --> 00:28:42,840
they're a bank, they get a fine 
and we get put in a box. 

497
00:28:47,560 --> 00:28:51,800
I, I, I don't understand. 
Explain that to me, please. 

498
00:28:51,800 --> 00:28:55,680
I don't get it. 
And this is something that has 

499
00:28:55,680 --> 00:29:04,880
happened over and over again, 
whether it's Chase, HSBCHSBC got

500
00:29:04,880 --> 00:29:08,080
caught laundering money for the 
Mexican drug cartels. 

501
00:29:09,840 --> 00:29:16,600
So I don't understand why is it 
that when our industry breaks 

502
00:29:16,600 --> 00:29:22,080
their regulations, we get locked
up in prison and when the banks 

503
00:29:22,080 --> 00:29:30,120
do it, they get a fine, that 
that's the problem? 

504
00:29:30,200 --> 00:29:33,400
This is the issue. 
This is the issue, that it's 

505
00:29:33,400 --> 00:29:37,240
hypocrisy. 
It's rules for thee and not for 

506
00:29:37,240 --> 00:29:39,120
me. 
And I'll tell you why. 

507
00:29:39,840 --> 00:29:42,200
It's a rhetorical question. 
I'll tell you why. 

508
00:29:43,120 --> 00:29:46,680
The reason is that our system is
is outside their purview. 

509
00:29:47,120 --> 00:29:48,880
So they're trying to make an 
example. 

510
00:29:49,880 --> 00:29:54,320
That's what it's about. 
This is disgusting. 

511
00:29:54,320 --> 00:29:57,280
This is despicable. 
I remember when they held the 

512
00:29:57,280 --> 00:30:01,080
same press conference for CZ, 
they mentioned the world, the 

513
00:30:01,080 --> 00:30:05,720
word terrorism like 50 times. 
They had Janet Yellen up there, 

514
00:30:05,720 --> 00:30:08,880
Merrick Garland. 
I believe they have Majorca's up

515
00:30:08,880 --> 00:30:16,360
there as well. 
But when the three like look 

516
00:30:17,080 --> 00:30:20,120
here is burn the bridge. 
And he says TD banks money 

517
00:30:20,120 --> 00:30:24,760
laundering conspiracy charges 
handles $18.3 trillion users, 

518
00:30:24,760 --> 00:30:29,040
funds $3 billion fine. 
Samurai wallet, money laundering

519
00:30:29,040 --> 00:30:34,000
conspiracy charges, handles 0% 
users, funds drones, armored 

520
00:30:34,000 --> 00:30:38,040
vehicles, pre dawn raids, 
developers indicted, server 

521
00:30:38,040 --> 00:30:42,720
seized facing 25 year sentences 
left This dystopia. 

522
00:30:42,720 --> 00:30:48,880
I I don't understand please make
this make sense to me because 

523
00:30:48,880 --> 00:30:54,760
you can't lecture me on justice 
legal like we're all equal under

524
00:30:54,760 --> 00:30:57,200
the law. 
You can't let you can't look at 

525
00:30:57,200 --> 00:31:01,560
me in the face and tell me that 
you know it's equal justice. 

526
00:31:01,720 --> 00:31:03,400
You should have followed the 
rules. 

527
00:31:03,720 --> 00:31:07,240
That's bullshit. 
No banker went to jail for the 

528
00:31:07,240 --> 00:31:12,840
crime that happened in 2008. 
No banker went to jail for what 

529
00:31:12,840 --> 00:31:18,000
happened during HSBC, when 
Christine Lagarde, who was the 

530
00:31:18,000 --> 00:31:21,240
head of the IMF and now is the 
head of the European Central 

531
00:31:21,240 --> 00:31:23,720
Bank. 
When she got charged with a 

532
00:31:23,720 --> 00:31:29,280
crime, they promoted her to the 
head of the European Central 

533
00:31:29,280 --> 00:31:32,240
Bank. 
But when our industry does it, 

534
00:31:32,680 --> 00:31:38,600
they put us in a box. 
What's up with Julian Assange, 

535
00:31:38,600 --> 00:31:41,080
man? 
What's up with Ross? 

536
00:31:41,640 --> 00:31:44,520
Ross got what, three life 
sentences? 

537
00:31:45,280 --> 00:31:48,480
And these bankers, they get a 
fine. 

538
00:31:50,640 --> 00:31:54,040
That is not right. 
That is not right. 

539
00:31:54,040 --> 00:31:58,280
That is a double standard. 
That is not equal justice before

540
00:31:58,280 --> 00:32:02,400
the law. 
This is the literal definition 

541
00:32:03,400 --> 00:32:06,600
of a cabal. 
This is the literal definition 

542
00:32:06,600 --> 00:32:09,080
of a mafia. 
I can't I can't describe it in 

543
00:32:09,080 --> 00:32:13,080
any other way. 
This is injustice in so many 

544
00:32:13,080 --> 00:32:17,160
different ways. 
When we do it box when they do 

545
00:32:17,160 --> 00:32:21,040
it, oh, you get a fine. 
And they don't even name the 

546
00:32:21,040 --> 00:32:23,600
executives. 
They just said the the 

547
00:32:23,600 --> 00:32:28,640
organization TD Bank. 
They don't they so so why can't 

548
00:32:28,640 --> 00:32:32,000
they just find Binance? 
Why couldn't they find bit 

549
00:32:32,000 --> 00:32:36,280
mechs? 
Bitmex broke these rules. 

550
00:32:36,280 --> 00:32:38,040
No, no, no, no. 
It was the CEO. 

551
00:32:38,200 --> 00:32:43,040
What about the CEO of TD Bank? 
Is he not held responsible for 

552
00:32:43,040 --> 00:32:46,800
any of this? 
This is insane. 

553
00:32:47,040 --> 00:32:50,040
This is insane. 
This is not equal justice. 

554
00:32:50,480 --> 00:32:53,280
This is rules for thee. 
These are. 

555
00:32:53,440 --> 00:32:57,960
They are exempt from the same 
laws we are meant to follow. 

556
00:32:58,760 --> 00:33:02,760
They expect us to follow those 
wrong laws and take them 

557
00:33:02,760 --> 00:33:06,680
seriously while they're 
lecturing us on a podium about, 

558
00:33:06,680 --> 00:33:09,000
you know, your safety and all 
this bullshit. 

559
00:33:10,120 --> 00:33:14,560
But then we get locked in prison
and they get a fine. 

560
00:33:15,920 --> 00:33:20,000
If it was the same standard, I 
wouldn't, I wouldn't say 

561
00:33:20,000 --> 00:33:22,400
anything. 
But the fact that it's a double 

562
00:33:22,400 --> 00:33:26,640
standard makes it an injustice 
and it makes it not right. 

563
00:33:26,640 --> 00:33:30,720
It's not ethical. 
And the reason they get away 

564
00:33:30,720 --> 00:33:34,200
with this isn't because they're 
in cahoots with these people. 

565
00:33:36,960 --> 00:33:39,520
The bankers are in the cahoots 
with the government. 

566
00:33:39,520 --> 00:33:43,080
That's what it's all about. 
And the Bitcoin industry is 

567
00:33:43,080 --> 00:33:46,560
outside of that ecosystem and 
it's not in cahoots with the 

568
00:33:46,560 --> 00:33:51,000
government. 
So they're weaponizing their 

569
00:33:51,000 --> 00:33:53,680
monopoly violence to go after 
our industry. 

570
00:33:54,280 --> 00:33:59,360
But at the same time, they just 
give out fines even though they 

571
00:33:59,360 --> 00:34:02,560
break the exact same law. 
And I can even make an argument 

572
00:34:02,600 --> 00:34:06,080
that they broke the law to a 
much larger extent. 

573
00:34:06,280 --> 00:34:08,679
Someone in the comments says 
multi tiered justice system. 

574
00:34:08,920 --> 00:34:11,719
How is it not? 
Please explain it to me. 

575
00:34:11,880 --> 00:34:15,360
I, I, I want just like I, I, I 
just want it answered. 

576
00:34:15,800 --> 00:34:20,560
How is this ethical? 
We've been getting beat up with 

577
00:34:20,560 --> 00:34:24,440
a metaphorical 2 by 4 as an 
industry for the last 3 1/2 

578
00:34:24,440 --> 00:34:26,320
years. 
Not going to lie, it's been 

579
00:34:26,920 --> 00:34:32,040
operation choke point 2.0 when a
bank gets caught red handed 

580
00:34:33,080 --> 00:34:35,800
money laundering breaking the 
same laws. 

581
00:34:36,679 --> 00:34:42,600
They get a fine when we do it. 
They literally radar shit, lock 

582
00:34:42,600 --> 00:34:46,480
us in a box and say that Bitcoin
enables money laundering. 

583
00:34:46,639 --> 00:34:50,800
Here's the reality check. 
The vast majority of illicit 

584
00:34:50,800 --> 00:34:55,400
finance is conducted using the 
traditional financial system. 

585
00:34:56,120 --> 00:34:58,080
It is not conducted using 
Bitcoin. 

586
00:34:59,080 --> 00:35:03,360
But we are the scapegoat. 
That is bullshit and it's our 

587
00:35:03,360 --> 00:35:05,680
job to highlight it. 
Anyways, Opti, what's your take 

588
00:35:05,680 --> 00:35:08,680
on all this? 
Yeah, Well, personally, I'm not 

589
00:35:08,680 --> 00:35:11,040
surprised this is the case. 
It's just becoming more and more

590
00:35:11,040 --> 00:35:15,640
obvious to more people that if 
you have enough money, you can 

591
00:35:15,640 --> 00:35:19,480
basically break any, any law, 
and all you have to do is pay a 

592
00:35:19,480 --> 00:35:22,000
fine. 
Again, I became a man. 

593
00:35:22,040 --> 00:35:25,840
You know, I came of age during 
2008 financial crisis and it 

594
00:35:25,840 --> 00:35:28,440
was, it's like we're seeing this
all over again, though. 

595
00:35:28,440 --> 00:35:30,760
I think the funniest part is 
that they are coming out here 

596
00:35:30,760 --> 00:35:33,560
and parading it like they, you 
know, did something really good 

597
00:35:33,560 --> 00:35:36,720
by getting this huge fine. 
But when you really dig into the

598
00:35:36,720 --> 00:35:41,000
detail, it's like if you have 
enough money, you can break any 

599
00:35:41,000 --> 00:35:44,120
law and you just pay the fine. 
If you look at the numbers of 

600
00:35:44,120 --> 00:35:48,280
how much money TD Bank has made 
in profit, that 3 billion, I 

601
00:35:48,280 --> 00:35:51,600
thought it was 1.8 billion, But 
apparently all the government 

602
00:35:51,600 --> 00:35:53,440
agencies kind of wanted to pick 
the pockets. 

603
00:35:53,440 --> 00:35:55,280
And then, you know, they added 
more fines on top of it. 

604
00:35:55,560 --> 00:35:58,760
I think 3 billion is something 
like, I don't know, like 

605
00:35:59,360 --> 00:36:02,120
somewhere around like 2 to 3% of
all the profits that they've 

606
00:36:02,120 --> 00:36:04,880
made the last 10 years when they
supposedly been breaking this 

607
00:36:04,880 --> 00:36:06,880
law. 
And so it's just like it's a 

608
00:36:06,880 --> 00:36:11,040
slap on the wrist again for most
people out there that aren't 

609
00:36:11,040 --> 00:36:15,640
aware of what I would argue the 
illegitimacy of the institutions

610
00:36:15,640 --> 00:36:18,560
and the system, the justice 
system we're a part of. 

611
00:36:19,120 --> 00:36:23,440
It should be a wake up call to 
most people that this is just 

612
00:36:23,440 --> 00:36:26,120
the status quo. 
We know it's all downhill from 

613
00:36:26,120 --> 00:36:28,040
the money. 
We know that the bankers in the 

614
00:36:28,040 --> 00:36:29,560
lobbyists control the 
government. 

615
00:36:29,800 --> 00:36:32,760
And then we have the media that 
gets paid by the infinite money 

616
00:36:32,760 --> 00:36:36,360
printers out there to justify 
all of this crazy stuff going 

617
00:36:36,360 --> 00:36:39,120
on. 
So hopefully sooner than later, 

618
00:36:39,120 --> 00:36:41,600
more people are waking up to the
fact that this is an 

619
00:36:41,600 --> 00:36:46,600
illegitimate system and they, 
the powers that be are out here 

620
00:36:46,600 --> 00:36:49,640
robbing the coppers as quickly 
as possible and and the media is

621
00:36:49,640 --> 00:36:53,120
out here to just cover for them 
and ensure that this the game 

622
00:36:53,120 --> 00:36:56,040
keeps going. 
But as we argue on the show 

623
00:36:56,040 --> 00:37:00,200
constantly, this system can only
go on as long as people trust 

624
00:37:00,200 --> 00:37:01,960
the system. 
But I think we're wake or at 

625
00:37:01,960 --> 00:37:05,640
least getting to a point right 
now, a cross section, a 

626
00:37:05,640 --> 00:37:09,080
crossroad here where more people
are waking up and they're going 

627
00:37:09,080 --> 00:37:11,640
to start to ask themselves, why 
am I using this money? 

628
00:37:11,640 --> 00:37:14,360
Why am I using the enemy's money
when we have a better option 

629
00:37:14,360 --> 00:37:17,360
that is of course Bitcoin and I 
can opt out of this stuff. 

630
00:37:17,640 --> 00:37:20,400
Obviously, I don't think it's 
enough for us to just kind of 

631
00:37:20,400 --> 00:37:24,000
like bury our heads in the sand 
and and create like, you know, 

632
00:37:24,000 --> 00:37:26,160
parallel communities. 
I think that's part of the 

633
00:37:26,160 --> 00:37:28,320
solution. 
But I think it's becoming more 

634
00:37:28,320 --> 00:37:32,040
and more obvious that as the 
citizens here, you know, 

635
00:37:32,040 --> 00:37:35,080
especially in America, this is 
supposedly a country run by we 

636
00:37:35,080 --> 00:37:37,160
the people. 
I think we need to get involved 

637
00:37:37,160 --> 00:37:39,720
in and try to wake up more 
people and be like, look, let's 

638
00:37:39,720 --> 00:37:44,080
let's reclaim some power here. 
Because the, the elite class, 

639
00:37:44,080 --> 00:37:46,720
the unproductive class, the 
administrative state, whatever 

640
00:37:46,720 --> 00:37:48,920
you want to call it, are out 
here Wilding. 

641
00:37:48,920 --> 00:37:52,520
And they are literally stealing 
as much wealth from the the 

642
00:37:52,520 --> 00:37:54,680
middle class and the lower class
as possible. 

643
00:37:55,000 --> 00:37:58,200
And then they're, you know, 
continuing to deploy these 

644
00:37:58,240 --> 00:38:01,600
divide and conquer strategies. 
And they're all, well, not, I 

645
00:38:01,600 --> 00:38:04,080
would argue, not bitcoiners, but
for the majority of people, 

646
00:38:04,280 --> 00:38:07,680
they're out here, you know, 
shooting, shooting arrows across

647
00:38:07,680 --> 00:38:10,280
the bow. 
And it's really like, it's not 

648
00:38:10,280 --> 00:38:12,360
the other side of the aisle 
that's the problem. 

649
00:38:12,360 --> 00:38:13,760
It's literally the people in 
power. 

650
00:38:13,760 --> 00:38:17,640
And now we're getting more and 
more exposure to the problem. 

651
00:38:17,640 --> 00:38:19,840
And people are hopefully waking 
up to this. 

652
00:38:19,840 --> 00:38:22,040
But I think it's only going to 
get worse before it gets better.

653
00:38:22,400 --> 00:38:26,480
But I think now is kind of going
into what we would argue on 

654
00:38:26,480 --> 00:38:27,840
Twitter like the Great 
Awakening. 

655
00:38:28,080 --> 00:38:31,440
And with that comes, you know, 
the great SIOP where they have 

656
00:38:31,440 --> 00:38:34,800
to continue to misdirect 
information and misdirect our 

657
00:38:34,800 --> 00:38:39,120
attention. 
But I think we are getting to a 

658
00:38:39,120 --> 00:38:41,640
focal point here. 
I think we're getting to a 

659
00:38:41,640 --> 00:38:44,960
tipping point where people are 
starting to wake up and notice, 

660
00:38:44,960 --> 00:38:48,840
and hopefully more people start 
to adopt Bitcoin because, you 

661
00:38:48,840 --> 00:38:50,760
know, hashtag Bitcoin fixes 
this. 

662
00:38:51,480 --> 00:38:53,640
Yeah, 100%. 
And, and, and like when the 

663
00:38:53,640 --> 00:38:57,200
Black Rock executive was talking
about it in the beginning where 

664
00:38:57,200 --> 00:39:00,360
he was like, yeah, people are 
like not trusting institutions. 

665
00:39:00,880 --> 00:39:05,720
This is why, right when Hillary 
Clinton was talking about how 

666
00:39:05,720 --> 00:39:09,320
they must censor social media or
they'll they'll lose control, 

667
00:39:09,680 --> 00:39:15,120
this is what she's referring to.
Like look, if government, we 

668
00:39:15,120 --> 00:39:20,920
trusted the government with 
money, they abuse that trust and

669
00:39:20,920 --> 00:39:24,880
then they're getting upset that 
we found a non sovereign 

670
00:39:24,880 --> 00:39:28,400
alternative that is 
uncorruptible, right? 

671
00:39:28,640 --> 00:39:32,920
Like that's not my problem. 
It's not my fault that you 

672
00:39:32,920 --> 00:39:39,080
designed the entire system on 
the ability for you to Co opt an

673
00:39:39,080 --> 00:39:43,600
intermediary. 
Now that the now that 

674
00:39:43,600 --> 00:39:48,640
individuals could take self 
custody of their own wealth and 

675
00:39:48,640 --> 00:39:52,520
by doing so their own destiny. 
Like, and you're going to try to

676
00:39:52,520 --> 00:39:57,000
demonize that and you're going 
to try to demonize and attack 

677
00:39:57,000 --> 00:40:01,800
the, the the off ramps while you
guys are guilty of the things 

678
00:40:01,800 --> 00:40:03,760
that you guys are accusing us 
of. 

679
00:40:04,440 --> 00:40:06,840
I'm sorry, I don't want to be 
lectured by that. 

680
00:40:06,840 --> 00:40:10,160
That's that's BS. 
I'm sorry guys, that's that's 

681
00:40:10,160 --> 00:40:13,160
BS. 
If you guys held yourselves to 

682
00:40:13,160 --> 00:40:17,640
the same standards. 
That you hold the Bitcoin and 

683
00:40:17,640 --> 00:40:21,680
crypto industry to I this would 
be a different conversation. 

684
00:40:22,160 --> 00:40:26,480
But you can't look at me with a 
straight face and look at me in 

685
00:40:26,480 --> 00:40:30,360
the eye and prayed yourself 
behind this official emblem in 

686
00:40:30,360 --> 00:40:34,200
this suit and talking to me how 
pat yourselves on the back and 

687
00:40:34,200 --> 00:40:36,560
telling me how you're protecting
the American people. 

688
00:40:38,880 --> 00:40:42,280
They get fines, we get jail 
sentences. 

689
00:40:43,040 --> 00:40:45,520
That's bullshit. 
Not surprising, but that's 

690
00:40:45,520 --> 00:40:48,200
bullshit. 
And you want to know why us 

691
00:40:48,200 --> 00:40:51,600
younger generations and give it,
give it credit because there's a

692
00:40:51,600 --> 00:40:53,600
lot of awesome Bitcoin boomers 
out there. 

693
00:40:53,840 --> 00:40:56,560
But the the millennials and the 
Gen. 

694
00:40:56,560 --> 00:40:59,480
Z ers that are adopting Bitcoin 
out of necessity. 

695
00:41:00,040 --> 00:41:02,200
You want to know why we don't 
trust the system? 

696
00:41:02,560 --> 00:41:04,120
There's a great example right 
there. 

697
00:41:04,440 --> 00:41:06,520
It's right there. 
It's it's it's not equal 

698
00:41:06,520 --> 00:41:10,080
justice. 
It's rules for thee but not for 

699
00:41:10,080 --> 00:41:15,320
me, rules for the politicians in
DC and then rules for everyone 

700
00:41:15,320 --> 00:41:17,560
else. 
And that's going to end anyways.

701
00:41:17,560 --> 00:41:20,200
Everybody, let's get to news. 
We have a lot to talk about. 

702
00:41:20,200 --> 00:41:23,360
Stay tuned. 
Elon had a historic moment. 

703
00:41:23,360 --> 00:41:27,520
The world had a historic moment.
We literally saw a rocket the 

704
00:41:27,520 --> 00:41:33,240
size of a 35 story building 
literally land getting caught by

705
00:41:33,240 --> 00:41:37,560
a giant metal arms. 
And it was one of the most 

706
00:41:37,560 --> 00:41:39,440
insane things I've ever seen in 
my life. 

707
00:41:39,600 --> 00:41:42,840
So stay tuned because we're 
going to talk about literally 

708
00:41:42,840 --> 00:41:44,840
what is the role of government 
in people's lives? 

709
00:41:45,200 --> 00:41:49,520
Are you getting the value back 
in terms of what you're paying 

710
00:41:49,520 --> 00:41:51,760
for in taxes? 
And I'm not just talking about 

711
00:41:51,760 --> 00:41:53,760
income tax. 
That's a whole other debate 

712
00:41:53,760 --> 00:41:57,320
which I don't want to get into. 
I'm talking about the tax of 

713
00:41:57,320 --> 00:41:59,680
inflation. 
Are you getting your monies 

714
00:41:59,680 --> 00:42:01,560
back? 
And I would like to make the 

715
00:42:01,560 --> 00:42:05,240
case that the answer is no. 
And a lot of the, a lot of the, 

716
00:42:05,360 --> 00:42:09,400
the, the, the cases against that
would say, Nico, what about the 

717
00:42:09,400 --> 00:42:11,080
roads? 
And I would say, I think the 

718
00:42:11,080 --> 00:42:15,400
private sector would build the 
roads a whole lot better than 

719
00:42:15,520 --> 00:42:18,480
the, the, the so-called public 
sector. 

720
00:42:18,760 --> 00:42:21,480
Anyways, guys, it's, it all 
comes down to incentives at the 

721
00:42:21,480 --> 00:42:23,480
end of the day. 
All right, everybody, let's move

722
00:42:23,480 --> 00:42:24,680
on to news. 
Lots to talk about. 

723
00:42:24,680 --> 00:42:29,280
Let's check it out. 
Special shout out to our sponsor

724
00:42:29,640 --> 00:42:32,200
Compass Mining. 
They make Bitcoin mining 

725
00:42:32,240 --> 00:42:36,120
accessible to everyone from 
beginners to experienced 

726
00:42:36,120 --> 00:42:39,000
investors. 
Their turnkey miners gets you 

727
00:42:39,120 --> 00:42:43,400
online and hashing within 48 
hours, making it easier than 

728
00:42:43,400 --> 00:42:45,680
ever to start your mining 
journey. 

729
00:42:46,200 --> 00:42:49,560
Plus, with their active 
marketplace, you can resell your

730
00:42:49,560 --> 00:42:53,520
miner at any time, adding 
flexibility and value to your 

731
00:42:53,520 --> 00:42:56,320
investment. 
Visit their website to access a 

732
00:42:56,480 --> 00:42:59,640
wealth of resources, learning 
everything you need to know 

733
00:42:59,640 --> 00:43:03,080
about Bitcoin mining. 
Take your first step into the 

734
00:43:03,080 --> 00:43:05,640
world of Bitcoin mining with 
confidence. 

735
00:43:05,800 --> 00:43:08,760
Discover more at Compass Mining 
dot IO. 

736
00:43:08,840 --> 00:43:13,920
Again, Compass mining dot IO and
see how Compass Mining can power

737
00:43:14,040 --> 00:43:24,200
your success. 
I want to give a shout out to 

738
00:43:24,200 --> 00:43:27,480
our sponsor foundation. 
It's self custody done right. 

739
00:43:27,680 --> 00:43:30,720
They've built a premium grade. 
Hardware wallet called. 

740
00:43:30,720 --> 00:43:34,520
Passport right here in the US 
and it integrates seamlessly 

741
00:43:34,600 --> 00:43:36,760
with their free app called 
Envoy. 

742
00:43:37,440 --> 00:43:40,200
Passport is fully open source 
and verifiable. 

743
00:43:40,360 --> 00:43:43,600
It's the most intuitive Bitcoin 
wallet design with a UX 

744
00:43:43,600 --> 00:43:47,080
reminiscent of a classic feature
phone, so you'll know how to 

745
00:43:47,080 --> 00:43:49,640
navigate it and use it the 
moment you pick it up. 

746
00:43:49,840 --> 00:43:53,720
It's also air gaps, meaning 
Bitcoin stays offline, never 

747
00:43:53,720 --> 00:43:57,320
touching an Internet connection.
It's Bitcoin only open source, 

748
00:43:57,320 --> 00:44:01,240
verifiable, air gap security 
model, gorgeous design, craft 

749
00:44:01,240 --> 00:44:04,960
premium grade materials. 
Get your Bitcoin off exchanges 

750
00:44:05,120 --> 00:44:08,560
and into your own hands in just 
a few minutes with Passport at 

751
00:44:08,560 --> 00:44:12,800
foundation dot XYZ slash. 
Simply get Peace of Mind for 

752
00:44:12,800 --> 00:44:17,320
your piece of Bitcoin. 
All right, everybody, Opti is 

753
00:44:17,320 --> 00:44:21,000
going to model the passport by 
Foundation Devices today. 

754
00:44:21,000 --> 00:44:23,520
If you use promo code simply, 
you won't get Opti, but you will

755
00:44:23,520 --> 00:44:26,440
get a discount to the passport 
by Foundation devices. 

756
00:44:26,440 --> 00:44:29,320
It's incredibly easy to use. 
It's very intuitive. 

757
00:44:29,480 --> 00:44:32,840
This is the perfect gift to give
to someone who perhaps is a 

758
00:44:32,840 --> 00:44:34,800
little bit intimidated by self 
custody. 

759
00:44:34,960 --> 00:44:39,760
The passport makes self custody 
be incredibly convenient without

760
00:44:39,760 --> 00:44:44,200
sacrificing the security of cold
storage Bitcoin. 

761
00:44:44,200 --> 00:44:46,720
So get yourself a passport by 
foundation devices. 

762
00:44:46,880 --> 00:44:49,640
Use promo code simply to get a 
small discount. 

763
00:44:49,640 --> 00:44:51,640
Anyways, this happened this 
weekend. 

764
00:44:51,800 --> 00:44:56,080
This is one of the most insane 
things I've ever seen and a lot 

765
00:44:56,080 --> 00:44:59,280
of Elon hate. 
By the way, the same week Elon 

766
00:44:59,280 --> 00:45:02,160
announced the robo taxi and the 
robo van. 

767
00:45:03,120 --> 00:45:05,320
Literally a freaking car that 
drives itself. 

768
00:45:05,480 --> 00:45:08,760
Gnarly shit. 
OK, just freaking gnarly. 

769
00:45:09,840 --> 00:45:13,160
And anyways. 
And then Mike Solana tweets out.

770
00:45:13,320 --> 00:45:15,480
What an asshole right? 
Because there's a lot of people 

771
00:45:16,040 --> 00:45:18,520
that don't like Elon. 
But I mean, I, I don't know if 

772
00:45:18,520 --> 00:45:21,360
you guys have seen this or you 
guys have seen this for audio 

773
00:45:21,360 --> 00:45:25,840
listeners here is literally a 
rocket the size of a 35 story 

774
00:45:25,840 --> 00:45:33,480
building weighing 2500 tons 
literally getting caught by 

775
00:45:33,560 --> 00:45:35,400
metal arm. 
It's most insane thing I've ever

776
00:45:35,400 --> 00:45:42,360
seen. 
Still not getting out of you, 

777
00:45:42,360 --> 00:46:03,110
Nico. 
That's just fucking crazy. 

778
00:46:12,550 --> 00:46:17,230
So anyways, the most freaking 
insane thing I've ever seen. 

779
00:46:18,150 --> 00:46:21,070
And here's the thing about Elon,
right? 

780
00:46:21,960 --> 00:46:23,560
And then Optia. 
I might have to send this to you

781
00:46:23,560 --> 00:46:25,600
because it looks like. 
The audio, drop it in the 

782
00:46:25,600 --> 00:46:28,960
private chat, I'll pull it up. 
The audio's not working on my 

783
00:46:28,960 --> 00:46:32,160
end or it's not cooperating. 
It's that French Internet bro. 

784
00:46:34,360 --> 00:46:36,200
Yeah, everyone, I'm I'm 
streaming, I'm going to be 

785
00:46:36,200 --> 00:46:39,720
streaming from from Paris these 
these next couple of weeks. 

786
00:46:40,800 --> 00:46:46,160
So forgive me for any technical 
difficulties, but anyways, I'll 

787
00:46:46,240 --> 00:46:47,480
I'll start talking about this 
opti. 

788
00:46:47,480 --> 00:46:49,480
Let me know when you have it 
ready 1. 

789
00:46:49,960 --> 00:46:54,280
SEC. 
Elon has he? 

790
00:46:54,280 --> 00:46:57,160
He tweeted this and this 
happened October 11th, so he 

791
00:46:57,160 --> 00:47:01,680
tweeted this about 11 days ago. 
Opti has it pulled up, so I'm 

792
00:47:01,680 --> 00:47:05,520
going to pull mine down. 
There we go, this is mine. 

793
00:47:05,520 --> 00:47:07,520
Wait, wait. 
Yeah, this is mine here. 

794
00:47:08,800 --> 00:47:11,120
There we go. 
All right, so Opti could you? 

795
00:47:11,120 --> 00:47:17,360
So Elon tweeted this about 
October 11th, and Elon actually 

796
00:47:17,360 --> 00:47:23,960
wants to launch the the he wants
to launch a government 

797
00:47:23,960 --> 00:47:27,320
efficiency committee. 
So he wants to cut down the size

798
00:47:27,320 --> 00:47:29,440
of government. 
But here's the thing, ladies and

799
00:47:29,440 --> 00:47:31,960
gentlemen. 
Even though he's correctly 

800
00:47:31,960 --> 00:47:38,360
identifying the issues, right? 
The problem is that voting is 

801
00:47:38,360 --> 00:47:42,600
1/2 measure. 
So let's say an ideal case, you 

802
00:47:42,600 --> 00:47:46,960
get Trump in office and then you
get Elon in office and then you 

803
00:47:46,960 --> 00:47:48,560
know, they cut the size of the 
government. 

804
00:47:49,400 --> 00:47:52,160
It doesn't address the root 
problem. 

805
00:47:52,160 --> 00:47:55,480
The root problem is the Fiat 
money printer. 

806
00:47:55,880 --> 00:47:59,960
Unless you take away the 
government's ability to create 

807
00:47:59,960 --> 00:48:03,320
money for free that everyone 
else has to work for, this will 

808
00:48:03,320 --> 00:48:09,080
continue to happen because the 
government is incentivized for 

809
00:48:09,080 --> 00:48:13,480
this to happen. 
The only way you you fix this is

810
00:48:13,480 --> 00:48:16,880
by taking away the government's 
to create money in the 1st 

811
00:48:16,880 --> 00:48:23,120
place, meaning their only way of
raising revenue is via direct 

812
00:48:23,120 --> 00:48:26,360
taxation and they can only do 
that to a certain extent. 

813
00:48:26,360 --> 00:48:28,960
Before people are saying, you 
know what, I can't, it's law 

814
00:48:28,960 --> 00:48:32,440
first curve until people start 
to kind of revolt back and they 

815
00:48:32,440 --> 00:48:34,000
say, no, I don't want to partake
in this. 

816
00:48:34,360 --> 00:48:36,880
So Elon is heading in the right 
direction. 

817
00:48:37,120 --> 00:48:41,480
And I can't emphasize how 
important that is because again,

818
00:48:41,760 --> 00:48:48,600
this is a company, his 
companies, both SpaceX and and 

819
00:48:48,960 --> 00:48:52,080
Tesla. 
As much as people dislike Elon, 

820
00:48:52,080 --> 00:48:59,160
the reality is that Tesla is the
4th largest company, publicly 

821
00:48:59,160 --> 00:49:02,400
traded company that that that 
holds Bitcoin right now. 

822
00:49:03,000 --> 00:49:07,200
They currently hold almost 
10,000 bitcoins, so 9720 

823
00:49:07,200 --> 00:49:11,760
bitcoins. 
And SpaceX also is believed to 

824
00:49:11,760 --> 00:49:16,840
own Bitcoin as well, right? 
So again, you know, and again, 

825
00:49:17,000 --> 00:49:19,960
it was a couple years ago that 
actually Elon announced that 

826
00:49:20,240 --> 00:49:25,760
that Tesla was going to enable 
for you to purchase Tesla's in 

827
00:49:25,760 --> 00:49:27,400
Bitcoin. 
And then he had to, I think he 

828
00:49:27,400 --> 00:49:30,640
was tapped on the shoulder or 
something and he backtracked. 

829
00:49:31,200 --> 00:49:34,240
So it's kind of like the gold 
bugs, the tragedy of the gold 

830
00:49:34,240 --> 00:49:39,560
bugs, because the gold bugs 
identified what the problem was,

831
00:49:40,280 --> 00:49:43,840
but they had the wrong tool. 
And I'm telling you with Elon, 

832
00:49:43,840 --> 00:49:45,840
it's like, dude, you are so 
close. 

833
00:49:45,880 --> 00:49:49,400
You are so close, but you are, 
you are so far. 

834
00:49:49,760 --> 00:49:53,080
And again, Bitcoin is a bit of a
humility test. 

835
00:49:53,320 --> 00:49:55,520
It is you. 
You have to, you have to humble 

836
00:49:55,520 --> 00:49:58,920
yourself a little bit, right? 
So anyways, let's play this 

837
00:49:58,920 --> 00:50:02,840
video that Elon reposted from 
his personal Twitter account a 

838
00:50:02,840 --> 00:50:05,920
couple days ago. 
I'm not an anarchist. 

839
00:50:05,920 --> 00:50:09,000
I believe in a government, but a
limited government, and the 

840
00:50:09,000 --> 00:50:11,960
government should be limited, in
my opinion, to very simple 

841
00:50:11,960 --> 00:50:16,520
functions #1 to defending the 
country against foreign enemies.

842
00:50:17,200 --> 00:50:20,240
I have tried for a long time to 
see how to make National Defense

843
00:50:20,240 --> 00:50:22,240
a private enterprise, and I've 
never succeeded. 

844
00:50:22,880 --> 00:50:26,560
It's easy to see how to 
privatize schooling, but I don't

845
00:50:26,560 --> 00:50:28,600
know how to privatize National 
Defense. 

846
00:50:28,960 --> 00:50:31,600
A section function of 
government, and one which it 

847
00:50:31,600 --> 00:50:37,120
performs very, very badly, is to
protect the individual citizen 

848
00:50:37,440 --> 00:50:41,120
against abuse and coercion by 
other citizens to keep you from 

849
00:50:41,120 --> 00:50:43,560
being hit over the head and 
mugged on the street, your house

850
00:50:43,560 --> 00:50:46,320
broken into, and so on. 
And I believe that the 

851
00:50:46,320 --> 00:50:49,560
government performs that 
function very ineffectively 

852
00:50:49,760 --> 00:50:52,560
because it's doing so many 
things it has no business doing.

853
00:50:53,800 --> 00:50:57,720
The third function, government, 
a very important function, is to

854
00:50:57,720 --> 00:50:59,600
define the rules of the game we 
play. 

855
00:51:00,120 --> 00:51:04,160
What's private property? 
If an airplane flies 10,000 feet

856
00:51:04,160 --> 00:51:06,640
over your house, is he violating
your private property? 

857
00:51:06,880 --> 00:51:10,400
If if he flies 10 feet over your
house, is he violating your 

858
00:51:10,400 --> 00:51:12,960
private property? 
There's nothing natural about 

859
00:51:12,960 --> 00:51:16,280
where the line should be drawn. 
So we have to have some 

860
00:51:16,280 --> 00:51:19,760
mechanism for making the rules 
about that, and that is an 

861
00:51:19,760 --> 00:51:24,240
appropriate government function.
In fourth, it's appropriate for 

862
00:51:24,240 --> 00:51:26,560
government to provide a 
mechanism for adjudicating 

863
00:51:26,560 --> 00:51:29,000
disputes about the meaning of 
those rules, the judicial 

864
00:51:29,000 --> 00:51:31,840
system. 
Those are the four essential 

865
00:51:31,840 --> 00:51:35,080
functions of government, in my 
opinion, and those are the only 

866
00:51:35,080 --> 00:51:38,560
functions that are essential. 
There may be some other areas in

867
00:51:38,560 --> 00:51:40,520
which if you started with 
nothing more than that, you 

868
00:51:40,520 --> 00:51:42,440
might. 
Government might conceivably do 

869
00:51:42,440 --> 00:51:46,680
more good than harm, but from 
where you are now, if you could 

870
00:51:46,680 --> 00:51:49,120
only move back in that 
direction, it'd be marvelous. 

871
00:51:50,360 --> 00:51:56,160
OK, so and then again, right, 
Milton Friedman, absolute, you 

872
00:51:56,160 --> 00:51:59,440
know, you know, genius, everyone
agrees to it. 

873
00:51:59,800 --> 00:52:04,560
But why is government not doing 
those things in the 1st place? 

874
00:52:04,760 --> 00:52:09,160
Why is government more focused 
on sending hundreds of billions 

875
00:52:09,160 --> 00:52:15,800
of dollars to fund foreign wars 
than they are about funding 

876
00:52:16,040 --> 00:52:20,200
their own rescue efforts of 
victims of the hurricane? 

877
00:52:20,520 --> 00:52:26,600
Why is it that, as in some parts
of California, if you are a 

878
00:52:26,600 --> 00:52:31,520
criminal and you steal a certain
amount of things that's under a 

879
00:52:31,520 --> 00:52:35,000
certain limit, you there's no 
penalty to that? 

880
00:52:35,600 --> 00:52:40,760
Why are you paying the The whole
point of paying taxes is so that

881
00:52:40,760 --> 00:52:46,400
government protects your 
property, so that government 

882
00:52:46,560 --> 00:52:51,800
enables law and order, so that 
government protects your best 

883
00:52:51,800 --> 00:52:54,480
interest. 
Government has been 

884
00:52:54,480 --> 00:52:59,600
Frankensteined into doing 
basically becoming God, 

885
00:52:59,760 --> 00:53:01,360
essentially the way that I see 
it. 

886
00:53:02,120 --> 00:53:08,920
And why is that happening? 
That is happening because of the

887
00:53:08,920 --> 00:53:13,680
government's ability to create 
money out of thin air. 

888
00:53:14,880 --> 00:53:18,000
And I think, and, and I've spent
a lot of time thinking about 

889
00:53:18,000 --> 00:53:20,880
this. 
I think it makes people sick. 

890
00:53:21,680 --> 00:53:26,680
I think it, it, it, it, it 
balloons the minds of 

891
00:53:26,680 --> 00:53:31,880
politicians into thinking that 
they're God like saviors. 

892
00:53:32,840 --> 00:53:37,840
And I think it's a very, very, 
very, very, very, very, very 

893
00:53:38,680 --> 00:53:43,520
difficult problem, but also a 
very dangerous precedent that 

894
00:53:43,520 --> 00:53:47,520
politicians have so much power 
because it's like, think about 

895
00:53:47,520 --> 00:53:52,840
it like the US, what has been an
endless war since, you know, 

896
00:53:53,320 --> 00:54:02,240
the, the, the, you can say the, 
the 50s and the 60s, how they 

897
00:54:02,240 --> 00:54:05,880
paying for that? 
They print the difference. 

898
00:54:06,960 --> 00:54:11,680
That's how they do it. 
And then that has consequences. 

899
00:54:11,680 --> 00:54:16,560
And the consequences is if you 
are lower middle class, you 

900
00:54:16,560 --> 00:54:20,200
don't have the means to save in 
assets, meaning you are you're 

901
00:54:20,200 --> 00:54:24,520
living paycheck to paycheck. 
So you get money and that 

902
00:54:24,520 --> 00:54:28,760
money's in Fiat and use that 
money to pay for your living 

903
00:54:28,760 --> 00:54:31,680
expenses, right. 
But you, you don't really have 

904
00:54:31,680 --> 00:54:34,200
extra to like, you know, save 
for a rainy day. 

905
00:54:36,280 --> 00:54:38,640
The problem is that when the 
government debases the currency,

906
00:54:38,640 --> 00:54:42,120
the, the, the purchasing power 
of that Fiat that you're earning

907
00:54:42,120 --> 00:54:48,480
continues to decrease. 
So if your employer is not 

908
00:54:48,480 --> 00:54:54,480
increasing your compensation by 
at least 10% on a yearly basis, 

909
00:54:56,200 --> 00:54:58,840
you're getting poorer. 
This is this, this is what 

910
00:54:58,840 --> 00:55:03,040
people feel inherently. 
They feel this, they know it to 

911
00:55:03,040 --> 00:55:06,320
it to be true. 
But the the Greek tragedy of all

912
00:55:06,320 --> 00:55:09,160
this is that they continue to 
seek a political solution. 

913
00:55:09,560 --> 00:55:12,640
That's what Elon is doing. 
That's what Trump is doing. 

914
00:55:13,280 --> 00:55:15,800
That's what, you know, to give 
them credit, they, they, they 

915
00:55:15,800 --> 00:55:18,640
think differently, but that's 
what the Democrats are trying to

916
00:55:18,640 --> 00:55:20,400
do. 
Kamala's trying to do with the 

917
00:55:20,400 --> 00:55:25,040
price controls, but but those 
are all half measures. 

918
00:55:25,040 --> 00:55:29,720
They don't work the measure the 
the the true solution to this 

919
00:55:29,720 --> 00:55:32,960
and Opti could you pull up the 
video because Elon is so close 

920
00:55:33,160 --> 00:55:37,440
here. 
The the the true solution here 

921
00:55:37,720 --> 00:55:43,240
and here's Hayek pointing it out
is separating money from state. 

922
00:55:43,800 --> 00:55:46,080
That's that's how you fix 
things. 

923
00:55:46,560 --> 00:55:52,240
That is how you put a check on 
the power of government, on the 

924
00:55:52,240 --> 00:55:58,600
power of politicians, because if
not every four years, right, 

925
00:55:59,320 --> 00:56:03,480
you're, you better hope that you
know, the, the politician in 

926
00:56:03,480 --> 00:56:07,080
place doesn't want to debase the
currency. 

927
00:56:08,320 --> 00:56:09,840
You're putting a lot of trust in
them. 

928
00:56:10,400 --> 00:56:13,480
And now the, the good news of 
all this is I'm talking about 

929
00:56:13,480 --> 00:56:17,120
fixing the system. 
But The thing is, you don't have

930
00:56:17,120 --> 00:56:20,880
to wait for the system to fix. 
You could actually start 

931
00:56:21,480 --> 00:56:26,080
benefiting from this today, 
right now, by choosing to opt 

932
00:56:26,080 --> 00:56:28,840
out of it entirely. 
And the way that you do it, 

933
00:56:28,840 --> 00:56:31,600
look, someone put in the in the 
chat, Mikel, in the last four 

934
00:56:31,600 --> 00:56:34,640
years, the US has printed 40% of
its circulate currency. 

935
00:56:34,920 --> 00:56:39,120
And if you look at housing 
prices, it's literally a direct 

936
00:56:39,320 --> 00:56:43,880
correlation between the M2 money
supply and the cost of an 

937
00:56:43,880 --> 00:56:47,520
average price in the US. 
And then you see the, the, the 

938
00:56:47,520 --> 00:56:49,600
politicians coming in and 
saying, Hey, you know, we're 

939
00:56:49,600 --> 00:56:53,400
going to give you a tax credit. 
And then in my response would be

940
00:56:53,400 --> 00:56:55,040
like, fuck you, dude, stop 
printing money. 

941
00:56:55,680 --> 00:56:58,480
Like it's like it, it's very 
simple. 

942
00:56:59,160 --> 00:57:01,920
Like I'm sorry to curse, but 
like, you know, it's, it's the 

943
00:57:01,920 --> 00:57:03,240
truth. 
Here's Peter. 

944
00:57:03,240 --> 00:57:05,040
Let's let's see, let's hear what
he has to say. 

945
00:57:05,640 --> 00:57:08,000
I mean, here's a. 
Great table list. 

946
00:57:08,000 --> 00:57:10,200
The money wasn't allowed to 
develop further. 

947
00:57:10,680 --> 00:57:15,480
After 2 or 300 years of coins 
all governments put their hands 

948
00:57:15,480 --> 00:57:17,480
and stopped any further 
developments. 

949
00:57:17,840 --> 00:57:20,440
We were not allowed to 
experiment on it. 

950
00:57:20,440 --> 00:57:24,600
Money hasn't been improved. 
Money has rather become worse in

951
00:57:24,600 --> 00:57:27,440
the course of time. 
Government said it must not 

952
00:57:27,440 --> 00:57:31,560
develop any further and what we 
have had since in development 

953
00:57:31,560 --> 00:57:35,560
were matters of government 
inventions, mostly on mostly 

954
00:57:35,560 --> 00:57:39,240
abuses of money. 
And I have come to the position 

955
00:57:39,240 --> 00:57:43,240
of asking has monetary policy 
ever done any good? 

956
00:57:43,240 --> 00:57:46,680
I don't think it has. 
I think it has done only harm. 

957
00:57:47,200 --> 00:57:50,920
That's why I'm now pleading for 
what I've called 

958
00:57:50,920 --> 00:57:54,040
denationalisation of money. 
I don't believe that. 

959
00:57:54,680 --> 00:57:59,160
So if you should ever have the 
good money again before we take 

960
00:57:59,160 --> 00:58:02,720
the thing out of the hands of 
government, then we can't take 

961
00:58:02,720 --> 00:58:05,720
them violently out of the hands 
of government. 

962
00:58:05,720 --> 00:58:08,600
All we can do is buy some sly 
around the Beltway. 

963
00:58:09,000 --> 00:58:10,840
Introduce something so you can't
stop. 

964
00:58:11,960 --> 00:58:14,320
We we, we found it. 
We found it. 

965
00:58:14,480 --> 00:58:16,920
And that's Bitcoin. 
That, that, that's literally 

966
00:58:16,920 --> 00:58:18,760
Bitcoin. 
That's that's literally what it 

967
00:58:18,760 --> 00:58:22,360
is. 
So like, yes, Elon has correctly

968
00:58:22,360 --> 00:58:25,840
identified the problem. 
Peter Schiff correctly 

969
00:58:25,840 --> 00:58:29,680
identified the problem. 
All the gold bugs have correctly

970
00:58:29,680 --> 00:58:35,200
identified the problem where I 
think Elon fails or dot fails, 

971
00:58:35,240 --> 00:58:38,080
but come short. 
And I think where Peter Schiff 

972
00:58:38,080 --> 00:58:45,040
came short is the tool and the 
tool is Bitcoin decentral. 

973
00:58:45,040 --> 00:58:48,800
If it stays decentralized and 
secure that that's the tool and 

974
00:58:48,800 --> 00:58:54,200
it it will put a check on 
government, it will put like a, 

975
00:58:54,480 --> 00:58:58,400
a bumpers, right. 
So if they ever come in there, 

976
00:58:58,400 --> 00:59:00,080
they're like, I want to go to 
war. 

977
00:59:00,360 --> 00:59:01,920
It's like, how are you going to 
pay for that, bro? 

978
00:59:02,280 --> 00:59:04,080
You can't print that. 
You can't print the money 

979
00:59:04,240 --> 00:59:06,120
anymore. 
How are you going to pay for 

980
00:59:06,120 --> 00:59:08,240
that right? 
And then all of a sudden, these 

981
00:59:08,240 --> 00:59:12,120
politicians are going to be 
very, very nice to the to their 

982
00:59:12,120 --> 00:59:15,920
constituents and they're going 
to be like, Hey, guys, well, you

983
00:59:15,920 --> 00:59:19,240
know, and look, I'll leave it at
this before I pass it on to 

984
00:59:19,240 --> 00:59:21,880
Ropti. 
It's not a coincidence that the 

985
00:59:21,880 --> 00:59:26,160
first country that made Bitcoin 
legal tender in the Americas has

986
00:59:26,160 --> 00:59:28,280
the most popular president in 
the Americas. 

987
00:59:28,920 --> 00:59:31,160
And it's not a coincidence that 
the first country that made 

988
00:59:31,160 --> 00:59:34,920
Bitcoin legal tender, they fixed
the base layer of society. 

989
00:59:35,360 --> 00:59:37,840
They went from one of the most 
dangerous societies on planet 

990
00:59:37,840 --> 00:59:44,360
Earth to one of the safest, 
where the president is trying to

991
00:59:44,360 --> 00:59:48,320
get the country out of debt. 
And they have a plan that by the

992
00:59:48,320 --> 00:59:50,680
year 2030, they're gonna do just
that. 

993
00:59:51,400 --> 00:59:54,200
And it's not a coincidence that 
the IMF is attacking that small 

994
00:59:54,200 --> 00:59:56,320
country. 
I'm just gonna leave it at that.

995
00:59:57,200 --> 01:00:00,000
Like anyways, Opti, what's your 
take on this before we get to 

996
01:00:00,000 --> 01:00:02,680
the culture? 
Yeah, well, First off, it looks 

997
01:00:02,680 --> 01:00:05,800
like we got some flat earthers 
and space is fake in the chat, 

998
01:00:05,800 --> 01:00:12,280
so that's not my view. 
Yeah, that video of the 

999
01:00:12,280 --> 01:00:15,960
potential, I'll put in quotes of
that rocket landing is pretty 

1000
01:00:15,960 --> 01:00:17,640
crazy. 
And I think it does go to show 

1001
01:00:18,120 --> 01:00:21,480
that entrepreneurs are the ones 
that really lead society 

1002
01:00:21,480 --> 01:00:25,080
forward. 
Your thoughts on Elon Musk can 

1003
01:00:25,080 --> 01:00:27,680
be varied. 
I might, my personal thoughts is

1004
01:00:27,680 --> 01:00:29,560
like he's doing so much 
incredible stuff. 

1005
01:00:29,880 --> 01:00:34,520
And you know, I, I like to be 
hopeful about it cuz it does 

1006
01:00:34,520 --> 01:00:38,880
seem like he is seemingly our 
real Tony Stark at the moment, 

1007
01:00:39,240 --> 01:00:42,040
though I am a little concerned. 
It does seem like we're going 

1008
01:00:42,040 --> 01:00:44,640
into like an I robot future. 
But that's, that's just my, my 

1009
01:00:44,640 --> 01:00:47,920
takes on that Elon Musk stuff. 
But really getting to the point 

1010
01:00:47,920 --> 01:00:50,360
of this, and this is the main 
theme of our show is the 

1011
01:00:50,360 --> 01:00:53,800
separation of money and state. 
And I really like that hike 

1012
01:00:53,800 --> 01:00:58,200
video where he pointed out what 
we say here all the time is that

1013
01:00:58,200 --> 01:01:00,720
monetary policy has done more 
harm than good. 

1014
01:01:00,720 --> 01:01:03,840
And I think once you really just
do a yeah, I wouldn't even say a

1015
01:01:03,840 --> 01:01:07,320
deep dive, but just any research
on the topic, you realize that 

1016
01:01:07,320 --> 01:01:10,560
like, why are we allowing a 
small Kabbalah people to control

1017
01:01:10,560 --> 01:01:14,200
the monetary policy? 
No one person or even small 

1018
01:01:14,200 --> 01:01:16,080
group of people can control the 
economy. 

1019
01:01:16,080 --> 01:01:17,960
The economy is a very complex 
thing. 

1020
01:01:17,960 --> 01:01:21,280
And anytime that you start to 
pull levers, you start to 

1021
01:01:21,280 --> 01:01:24,120
manipulate and you start to 
distort, distort the the 

1022
01:01:24,200 --> 01:01:27,240
economy. 
And I think the economy, as you 

1023
01:01:27,240 --> 01:01:31,000
know, AI would say rudimentary 
Keynesian economists here. 

1024
01:01:31,320 --> 01:01:35,320
I think the economy is made-up 
best when individuals make their

1025
01:01:35,320 --> 01:01:38,360
own choices for what they think 
is the best for their lives and 

1026
01:01:38,360 --> 01:01:41,920
not some small cabal of 
governments or bankers. 

1027
01:01:41,920 --> 01:01:45,920
And I am also all for the 
limiting of government, at least

1028
01:01:45,920 --> 01:01:48,320
to the roles that that were set 
out in the beginning. 

1029
01:01:48,320 --> 01:01:50,640
I, I don't think the government 
is supposed to be big daddy 

1030
01:01:50,640 --> 01:01:52,840
government that controls every 
aspect of our lives. 

1031
01:01:53,240 --> 01:01:55,280
I especially don't believe that 
the government should be 

1032
01:01:55,280 --> 01:01:58,240
controlling the money supply 
because as we've seen, as we've 

1033
01:01:58,240 --> 01:02:01,840
constantly shown on this show, 
the cantillon effect of whoever 

1034
01:02:01,840 --> 01:02:05,160
is closest to the money printer 
is the ones that really are set 

1035
01:02:05,160 --> 01:02:07,080
up to succeed. 
And everyone else is getting 

1036
01:02:07,080 --> 01:02:09,600
poorer. 
And inflation is that hidden tax

1037
01:02:09,840 --> 01:02:12,640
that few people understand, 
especially since most people 

1038
01:02:12,720 --> 01:02:14,280
people are economically 
illiterate. 

1039
01:02:14,840 --> 01:02:16,960
This is by design. 
They don't want you to know that

1040
01:02:16,960 --> 01:02:18,760
it's all about the money. 
It will always be about the 

1041
01:02:18,760 --> 01:02:20,280
money. 
And those who can manipulate the

1042
01:02:20,280 --> 01:02:23,600
money will be in a better 
position than everyone else. 

1043
01:02:23,600 --> 01:02:26,760
And this is by design. 
And I think the thread of 

1044
01:02:26,760 --> 01:02:31,120
today's show is that there is an
injustice in the system. 

1045
01:02:31,120 --> 01:02:34,080
And it's either that the system 
is designed this way or that it 

1046
01:02:34,080 --> 01:02:36,440
is broken. 
Either way, the results are the 

1047
01:02:36,440 --> 01:02:38,000
same. 
We are getting poorer. 

1048
01:02:38,000 --> 01:02:40,320
We are stuck in the matrix. 
We are stuck in the rat race. 

1049
01:02:40,600 --> 01:02:45,280
And like Height said, the real 
goal here is to denationalize 

1050
01:02:45,280 --> 01:02:47,200
money. 
This is the separation of money 

1051
01:02:47,200 --> 01:02:50,320
and state. 
I want a money that is a global 

1052
01:02:50,320 --> 01:02:55,400
neutral, money that is a global 
measurement of value, AKA 

1053
01:02:55,400 --> 01:02:57,600
Bitcoin. 
And now we actually have an 

1054
01:02:57,600 --> 01:02:59,920
option here. 
No longer are we being forced, 

1055
01:02:59,920 --> 01:03:02,720
even though you know, by by 
design and laws in your own 

1056
01:03:02,720 --> 01:03:05,520
country, you are technically 
forced to use their money. 

1057
01:03:05,720 --> 01:03:08,680
Now we actually have an option 
that I think is slowly but 

1058
01:03:08,680 --> 01:03:10,280
surely proliferating around the 
world. 

1059
01:03:10,280 --> 01:03:13,640
And most people are waking up to
this idea that, hey, I don't 

1060
01:03:13,640 --> 01:03:16,240
have to use this money that is 
designed to steal from me. 

1061
01:03:16,240 --> 01:03:18,440
We have a better option. 
It is Bitcoin. 

1062
01:03:18,680 --> 01:03:21,840
And all you have to do is just 
start saving in Bitcoin. 

1063
01:03:22,160 --> 01:03:26,440
Let the clown world, Fiat world 
play out in in its due course. 

1064
01:03:26,440 --> 01:03:29,600
Because we all know what's I 
think it's Voltaire quote where 

1065
01:03:29,600 --> 01:03:33,040
he says all Fiat money goes back
to its original value, which is 

1066
01:03:33,040 --> 01:03:35,920
literally 0. 
So I've been kind of harping on 

1067
01:03:35,920 --> 01:03:39,640
stop using the enemy's money and
start to use real money, which 

1068
01:03:39,640 --> 01:03:41,200
is Bitcoin. 
Start to use something that 

1069
01:03:41,200 --> 01:03:44,640
cannot be debased, that doesn't 
steal from you and your life is 

1070
01:03:44,640 --> 01:03:46,800
going to improve. 
Again, this all boils down to 

1071
01:03:46,800 --> 01:03:49,400
one simple thing. 
Most people want to live a good 

1072
01:03:49,400 --> 01:03:53,640
life and most people don't have 
the time to really deep dive all

1073
01:03:53,640 --> 01:03:55,600
of these topics. 
They just need to use a better 

1074
01:03:55,600 --> 01:03:57,320
tool. 
And this is where we are. 

1075
01:03:57,320 --> 01:04:00,120
Bitcoin is a better tool. 
Like everyone here using the 

1076
01:04:00,120 --> 01:04:04,160
Internet, like everyone using 
wheels, money is a technology 

1077
01:04:04,160 --> 01:04:07,280
and now we have a superior 
technology and it's upon you, 

1078
01:04:07,320 --> 01:04:10,560
the individual, to take 
responsibility and protect 

1079
01:04:10,560 --> 01:04:14,680
yourself by saving in Bitcoin. 
This is how we win. 

1080
01:04:15,880 --> 01:04:19,760
But yeah, flat earthers in the 
chat getting triggered. 

1081
01:04:22,320 --> 01:04:26,120
Oh man. 
Oh man, well, I, I personally 

1082
01:04:26,120 --> 01:04:27,920
like Elon. 
I have a Tesla. 

1083
01:04:27,920 --> 01:04:32,480
It's freaking dope and you do 
lands rockets. 

1084
01:04:33,080 --> 01:04:37,880
I, I, I understand Opti is like,
dude, I robot by Elon. 

1085
01:04:37,880 --> 01:04:41,120
And I always suspect that Opti's
a little bit jealous because 

1086
01:04:41,880 --> 01:04:49,160
Elon's Elon's robot is called 
optimist and optimist and Elon 

1087
01:04:49,480 --> 01:04:53,400
obviously Opti's Opti optimist. 
So I suspect there might be a 

1088
01:04:53,400 --> 01:04:55,840
little bit of jealousy there, 
but it's OK. 

1089
01:04:55,840 --> 01:04:58,480
Like Opti's not going to be 
replaced by a robot anytime 

1090
01:04:58,480 --> 01:05:02,640
soon, but maybe when? 
The FIRST model maybe actually, 

1091
01:05:03,760 --> 01:05:05,680
but that's not going to happen 
for a while now. 

1092
01:05:06,160 --> 01:05:08,960
Well, you know Nico, I will have
the last laugh when you have a 

1093
01:05:08,960 --> 01:05:11,280
robot made and it goes rogue on 
you. 

1094
01:05:11,280 --> 01:05:14,840
So hey, we'll see. 
Who's right at the end of the 

1095
01:05:16,120 --> 01:05:18,000
day? 
Anyways, guys, let's move on to 

1096
01:05:18,000 --> 01:05:19,480
the culture segment. 
We have a lot to talk about. 

1097
01:05:19,480 --> 01:05:20,360
Let's check it out. 
Here we go. 

1098
01:05:32,640 --> 01:05:35,480
All right, everybody, I do want 
to give a very special shout 

1099
01:05:35,480 --> 01:05:38,680
out, of course, to our sponsor, 
the Orange Pullout guys, Stack 

1100
01:05:38,680 --> 01:05:42,640
friends who stack sats join the 
12,233 bit quarters that are 

1101
01:05:42,640 --> 01:05:45,160
currently on the application. 
To get started, all you got to 

1102
01:05:45,160 --> 01:05:47,000
do is scan the QR code, check 
the link in the video 

1103
01:05:47,000 --> 01:05:49,080
description. 
The Orange pullout has a really 

1104
01:05:49,440 --> 01:05:52,960
cool geographical feature. 
So if you're on the go, you're 

1105
01:05:52,960 --> 01:05:54,480
moving. 
You don't know anybody in your 

1106
01:05:54,480 --> 01:05:58,240
new city or you're in you've 
been in your city for a while. 

1107
01:05:58,240 --> 01:05:59,520
You don't have any bitcoiners 
around you. 

1108
01:05:59,520 --> 01:06:03,160
The orange pull up is for you. 
It'll allow you to send DMS to 

1109
01:06:03,360 --> 01:06:07,640
bitcoiners that are currently 
near you and it'll allow you to 

1110
01:06:07,640 --> 01:06:11,280
connect with them. 
So download the orange pull up 

1111
01:06:11,280 --> 01:06:15,200
today, scan the QR code or check
the link in the video 

1112
01:06:15,200 --> 01:06:18,560
description is one of the best 
ways to send me a message. 

1113
01:06:18,560 --> 01:06:21,880
So if you want to reach me 
directly, send me a message on 

1114
01:06:21,880 --> 01:06:23,680
the orange BLOB. 
I'm gonna pass it on to Opti. 

1115
01:06:23,680 --> 01:06:25,280
I don't even know Opti. 
Yeah, yeah. 

1116
01:06:25,280 --> 01:06:26,520
What are we talking about during
the cold? 

1117
01:06:27,040 --> 01:06:31,400
I really wanted to bring this 
thread up last week, but we we 

1118
01:06:31,400 --> 01:06:34,080
had guests all week. 
And honestly, I think it's 

1119
01:06:34,080 --> 01:06:37,600
fitting a lot better on today's 
show because we are talking 

1120
01:06:37,600 --> 01:06:41,120
about the, you know, 
denationalization of money and 

1121
01:06:41,120 --> 01:06:44,400
Fiat money and printing money 
and what those problems are. 

1122
01:06:44,600 --> 01:06:47,960
And obviously it is a Bitcoin 
show and this is the fundamental

1123
01:06:47,960 --> 01:06:49,720
problem that we see in the world
right now. 

1124
01:06:49,720 --> 01:06:52,240
It's all about the, it will 
always be about the money. 

1125
01:06:52,440 --> 01:06:56,040
Why do we have a rogue class of 
quote UN quote politicians 

1126
01:06:56,040 --> 01:06:59,160
running wild with the money 
printer and making all of us 

1127
01:06:59,160 --> 01:07:02,960
poorer? 
Anyways, this thread here is I, 

1128
01:07:02,960 --> 01:07:04,840
I've never really heard it in 
this way. 

1129
01:07:04,840 --> 01:07:07,600
I think we touch on this idea 
constantly, like what the 

1130
01:07:07,600 --> 01:07:10,600
problem of Fiat money is. 
And I saw this thread and, and I

1131
01:07:10,600 --> 01:07:12,920
found it very interesting. 
And this is, you know, on 

1132
01:07:12,920 --> 01:07:15,800
Twitter, it's very small claims,
but he's an OG bitcoiner. 

1133
01:07:16,040 --> 01:07:19,320
I don't know if I'm doxing him 
why he's saying his name. 

1134
01:07:19,320 --> 01:07:21,840
I'm not going to say his name, 
but I think everyone knows who 

1135
01:07:21,840 --> 01:07:24,880
his name is. 
I don't know if I should say it,

1136
01:07:25,920 --> 01:07:30,600
but anyways, yeah, I'm not going
to say it because you know, if 

1137
01:07:30,600 --> 01:07:33,360
you know, you know. 
Anyways, this is a great thread.

1138
01:07:33,360 --> 01:07:37,440
And honestly, I do, I'm going to
read the thread, but I kind of 

1139
01:07:37,440 --> 01:07:39,200
want to hear Nico's take on this
as well. 

1140
01:07:39,200 --> 01:07:42,040
And my take on it because we we 
always hit on this, but I think 

1141
01:07:42,040 --> 01:07:44,560
it's a new reframing of the 
problems with Fiat money. 

1142
01:07:44,840 --> 01:07:48,200
So we have very small claims on 
Twitter goes the reason that 

1143
01:07:48,200 --> 01:07:50,120
Fiat. 
What is a problem is simple. 1A 

1144
01:07:50,120 --> 01:07:53,120
Republic can only survive if the
treasury can afford to run the 

1145
01:07:53,120 --> 01:07:54,680
government, which we constantly 
hit on. 

1146
01:07:54,880 --> 01:07:57,520
Two, you are not voting to send 
someone to Washington to vote 

1147
01:07:57,520 --> 01:08:00,360
for your principles and beliefs.
You are sending them to decide 

1148
01:08:00,360 --> 01:08:03,960
how to spend the treasury, which
I think we talked on this 

1149
01:08:03,960 --> 01:08:07,720
constantly, but we've never 
actually framed it in this this 

1150
01:08:07,720 --> 01:08:09,520
way. 
Three, if it is true that the 

1151
01:08:09,520 --> 01:08:12,560
actual job of a congressman is 
to spend the treasury, then the 

1152
01:08:12,560 --> 01:08:14,920
only people who should be able 
to vote for them are the people 

1153
01:08:14,920 --> 01:08:18,439
that fund the treasury, AKA you 
guys. 4 Fiat allows the 

1154
01:08:18,439 --> 01:08:21,520
government to build a treasury 
absent of its people, which we 

1155
01:08:21,520 --> 01:08:24,880
constantly talk about. 5 The 
government uses Fiat to inflate 

1156
01:08:24,880 --> 01:08:28,520
the currency, which is a tax, 
though a very fair 1 You could 

1157
01:08:28,520 --> 01:08:32,800
argue against that, but this is 
the point, because six, it's an 

1158
01:08:32,800 --> 01:08:35,160
egalitarian tax. 
The creation of Fiat causes 

1159
01:08:35,160 --> 01:08:37,880
everyone to become a contributor
to the Treasury. 

1160
01:08:38,479 --> 01:08:41,399
I've never heard it that way, 
but it's very interesting. 7 If 

1161
01:08:41,399 --> 01:08:44,640
everyone is a contributor, then 
everyone gets to vote. 8 If 

1162
01:08:44,640 --> 01:08:47,560
everyone gets to vote, you are 
no longer a sustainable Republic

1163
01:08:47,560 --> 01:08:50,040
because those who are not 
actually net contributors are 

1164
01:08:50,040 --> 01:08:52,399
able to vote themselves. 
Advantages by defunding the 

1165
01:08:52,399 --> 01:08:54,520
treasury that was funded by 
others. 

1166
01:08:54,720 --> 01:08:57,240
Again, we constantly talk about 
the administrative state. 

1167
01:08:57,439 --> 01:09:00,720
We talk about the Cantelon 
effect. 9A Fiat system puts 

1168
01:09:00,720 --> 01:09:03,080
government in control, funding 
the treasury rather than the 

1169
01:09:03,080 --> 01:09:05,240
people. 
But modern monetary theories, 

1170
01:09:05,240 --> 01:09:09,000
advocates using taxes and 
inflation simultaneously achieve

1171
01:09:09,000 --> 01:09:11,359
the same end. 
While this works, it takes all 

1172
01:09:11,359 --> 01:09:14,120
bargaining power out of the 
hands of the people who fund the

1173
01:09:14,120 --> 01:09:16,359
government. 
And that's why Fiat is bad. 

1174
01:09:16,359 --> 01:09:19,200
It's not bad because it is a 
tax, or because taxes are theft,

1175
01:09:19,359 --> 01:09:22,040
or because modern monetary 
theorists are evil, or whatever 

1176
01:09:22,040 --> 01:09:23,920
you dumb libertarian friends 
told you. 

1177
01:09:24,279 --> 01:09:26,960
It's bad because it is 
compatible, incompatible with 

1178
01:09:26,960 --> 01:09:30,040
our form of government. 
The Founders were right and 

1179
01:09:30,600 --> 01:09:31,800
we've talked about this 
constantly. 

1180
01:09:31,800 --> 01:09:35,000
We always hit up on on this 
problem that Fiat money is the 

1181
01:09:35,000 --> 01:09:37,760
problem. 
Obviously you can view this very

1182
01:09:37,760 --> 01:09:40,479
differently and this Bitcoin has
been around for a long time. 

1183
01:09:40,479 --> 01:09:44,920
He's a, he's a OG bitcoiner made
content in the past and I, I've 

1184
01:09:44,920 --> 01:09:48,040
never heard it this way, but it 
is very interesting and we 

1185
01:09:48,040 --> 01:09:51,120
always hit on a very similar, 
similar topic. 

1186
01:09:51,120 --> 01:09:54,600
I I've been, you know, classic 
cliche man, talked about the 

1187
01:09:54,600 --> 01:09:57,560
Roman Empire, but we've seen 
this happen when empires do 

1188
01:09:57,560 --> 01:10:00,880
start to collapse that the 
powers that be though, you know,

1189
01:10:00,880 --> 01:10:06,480
the elite, if you will, they 
start to steal the rob the 

1190
01:10:06,480 --> 01:10:10,000
coffers as as quickly as 
possible and they try to steal 

1191
01:10:10,000 --> 01:10:13,360
and extract as much wealth from 
the population as possible. 

1192
01:10:13,560 --> 01:10:16,600
And usually they try to do this 
in sly, you know, roundabout 

1193
01:10:16,600 --> 01:10:18,440
ways. 
And This is why we think Bitcoin

1194
01:10:18,680 --> 01:10:21,600
is the solution to this because 
again, it is a sly roundabout 

1195
01:10:21,600 --> 01:10:24,120
way of stopping this problem. 
And you don't really have to 

1196
01:10:24,120 --> 01:10:26,720
understand all the 
technicalities of this, but I 

1197
01:10:26,720 --> 01:10:29,640
really like this framing that 
when you do vote for someone, a 

1198
01:10:29,640 --> 01:10:33,880
politician to represent your, 
your principles, or rather, you 

1199
01:10:33,880 --> 01:10:37,760
know, represent you, the person,
what you're really voting for is

1200
01:10:37,760 --> 01:10:41,280
someone to spend the treasury. 
And as much as we hit on this 

1201
01:10:41,280 --> 01:10:43,360
constantly, we've never really 
talked about that. 

1202
01:10:43,720 --> 01:10:46,720
And this is what we always say 
on here on the show, that the 

1203
01:10:46,720 --> 01:10:49,480
powers that be, the politicians 
in Washington, they're 

1204
01:10:49,480 --> 01:10:53,320
completely detached from the 
population and they're doing all

1205
01:10:53,320 --> 01:10:55,480
kinds of crazy stuff that no one
would agree to. 

1206
01:10:55,480 --> 01:10:59,360
And this fundamentally collapses
when you go back to a Bitcoin 

1207
01:10:59,360 --> 01:11:02,880
standard when they I can't slyly
steal from you. 

1208
01:11:03,000 --> 01:11:05,040
And we always hit on these 
topics. 

1209
01:11:05,160 --> 01:11:07,760
And I know it gets a little, you
know, a little spicy in there 

1210
01:11:07,760 --> 01:11:09,960
when he's trolling libertarians 
and stuff. 

1211
01:11:10,240 --> 01:11:13,440
But I, I just find it, I found 
that it's a very interesting 

1212
01:11:13,440 --> 01:11:16,560
reframing of the problems that 
we always talk about here on the

1213
01:11:16,560 --> 01:11:18,960
show, but we've never put it in 
this way. 

1214
01:11:19,280 --> 01:11:22,400
And I, I just really liked it. 
I wanted to talk about it last 

1215
01:11:22,400 --> 01:11:25,120
week, but it's, I think it's 
more fitting on today's show 

1216
01:11:25,120 --> 01:11:27,000
considering all the topics that 
we talked about. 

1217
01:11:27,240 --> 01:11:29,400
ANYWAYS, end of rant. 
Nico, what's your thoughts on 

1218
01:11:29,400 --> 01:11:31,640
this? 
Dude, I mean it's it's it we're 

1219
01:11:31,640 --> 01:11:33,600
In Sync again coincidentally 
yeah right. 

1220
01:11:34,240 --> 01:11:38,360
So and also shout out to the 200
likes of you guys watching live 

1221
01:11:38,360 --> 01:11:40,520
on YouTube. 
You guys are watching live on 

1222
01:11:40,520 --> 01:11:44,240
Rumble and Noster. 
We appreciate you and of course 

1223
01:11:44,440 --> 01:11:47,000
everyone watching us live on X. 
If you guys are enjoying the 

1224
01:11:47,000 --> 01:11:48,600
show, make sure to smash the 
like button. 

1225
01:11:48,840 --> 01:11:52,360
Share the video really, really 
helps pushing the orange signal 

1226
01:11:52,360 --> 01:11:54,560
forward, getting this message 
out there. 

1227
01:11:54,560 --> 01:11:58,400
More and more people need to be 
informed on what the actual 

1228
01:11:58,400 --> 01:12:04,000
problem of their economic woes 
is and not this whole it's the 

1229
01:12:04,000 --> 01:12:07,000
Democrats, it's the Republicans,
it's the liberals, it's the 

1230
01:12:07,040 --> 01:12:09,040
conservatives. 
No, it's it's broken money. 

1231
01:12:09,040 --> 01:12:12,520
It's literally broken money. 
So I actually wanted to read a 

1232
01:12:12,520 --> 01:12:17,200
quote from George Washington. 
He says, quote, paper money has 

1233
01:12:17,200 --> 01:12:20,280
had the effect in your state 
that it will ever have to ruin 

1234
01:12:20,280 --> 01:12:24,720
commerce, oppress the honest and
open the door to every species 

1235
01:12:24,720 --> 01:12:28,720
of fraud and injustice. 
So even the founding fathers, 

1236
01:12:29,680 --> 01:12:32,240
we're not fans of paper money, 
right? 

1237
01:12:32,240 --> 01:12:37,000
Andrew Jackson is very well 
known for, you know, getting 

1238
01:12:37,000 --> 01:12:42,320
elected on the basis of of 
shutting down the National Bank 

1239
01:12:42,320 --> 01:12:45,400
of the United States. 
It was only because of the 

1240
01:12:45,520 --> 01:12:47,840
creature, you know, read the 
creature from Jekyll and gives 

1241
01:12:47,840 --> 01:12:51,360
into the story of that. 
But the secret meeting, you 

1242
01:12:51,360 --> 01:12:55,800
know, that took place in the 
early 1900s and they sold the 

1243
01:12:55,800 --> 01:13:00,240
American public on the idea that
central banking was going to 

1244
01:13:00,240 --> 01:13:05,440
provide stability. 
That wasn't the case at all 

1245
01:13:05,440 --> 01:13:09,080
whatsoever. 
That was completely wrong. 

1246
01:13:09,080 --> 01:13:12,280
It was just wrong on every 
single front. 

1247
01:13:12,760 --> 01:13:16,960
And it has door, it has 
Frankenstein government. 

1248
01:13:17,560 --> 01:13:22,840
It has taken the power from the 
hands of the people back to the 

1249
01:13:22,840 --> 01:13:28,840
hands of the government. 
And that will not be fixed until

1250
01:13:28,840 --> 01:13:32,720
we separate money from state. 
Because it's just incentives 

1251
01:13:32,720 --> 01:13:35,120
dude. 
It's incentives bro. 

1252
01:13:35,120 --> 01:13:36,880
Like this is what you guys have 
to understand. 

1253
01:13:36,880 --> 01:13:38,960
It's like no one is better than 
their incentives. 

1254
01:13:39,160 --> 01:13:42,160
Like these politicians aren't 
twirling their mustache to 

1255
01:13:42,160 --> 01:13:45,720
saying how do I steal from them.
No, they're they're following 

1256
01:13:45,720 --> 01:13:48,840
their incentives. 
And if you're incentivized to go

1257
01:13:48,840 --> 01:13:52,920
to DC and there's a money 
printer, there's a money 

1258
01:13:52,920 --> 01:13:54,960
printer. 
And could you imagine that? 

1259
01:13:54,960 --> 01:13:56,800
Can you imagine the power that 
comes from that? 

1260
01:13:57,200 --> 01:14:00,920
How many hours a day do you 
spend working? 

1261
01:14:01,440 --> 01:14:04,000
And then all the there's a 
group, there's a bureaucratic 

1262
01:14:04,000 --> 01:14:09,840
elite that have the power to 
just like create a thin air. 

1263
01:14:10,120 --> 01:14:11,720
And then compare that with 
Bitcoin. 

1264
01:14:12,280 --> 01:14:15,960
It doesn't matter who you are. 
It doesn't matter if you're the 

1265
01:14:16,040 --> 01:14:19,840
emperor, king, Prince, whatever.
If you want to make more 

1266
01:14:19,840 --> 01:14:23,760
Bitcoin, you got to mine it, you
got to buy it, or you got to 

1267
01:14:23,760 --> 01:14:27,320
earn it like everybody else. 
There's no special privileges in

1268
01:14:27,320 --> 01:14:30,800
that system. 
And I would I would turn their 

1269
01:14:30,800 --> 01:14:33,160
argument against them because 
they say that Bitcoin is a 

1270
01:14:33,160 --> 01:14:37,120
private money. 
If their money is not audible, 

1271
01:14:37,560 --> 01:14:42,280
they have the ability to create 
out of thin air and there's no 

1272
01:14:42,280 --> 01:14:45,680
accountability. 
Bitcoin is open source. 

1273
01:14:46,320 --> 01:14:49,240
It's it's an open Ledger and 
anyone could create more 

1274
01:14:49,240 --> 01:14:51,680
Bitcoin. 
What sounds more public and 

1275
01:14:51,680 --> 01:14:55,000
private to you, Right. 
And again, one last thing. 

1276
01:14:55,280 --> 01:14:59,120
It's not a coincidence, Ron Paul
quote that the bloodiest century

1277
01:14:59,120 --> 01:15:01,560
in human history was a century 
of central banking. 

1278
01:15:02,000 --> 01:15:05,320
Another, another thing, I don't 
think it's a coincidence that 

1279
01:15:05,320 --> 01:15:09,560
the establishment of the federal
income tax was the same year as 

1280
01:15:09,560 --> 01:15:13,160
the establishment of the central
bank in the United States. 

1281
01:15:14,120 --> 01:15:18,920
So I think America, and in fact,
any country that has a central 

1282
01:15:18,920 --> 01:15:25,280
bank has been held hostage, is 
being held hostage by this 

1283
01:15:25,280 --> 01:15:29,120
system. 
And we now have a way out of it.

1284
01:15:29,600 --> 01:15:32,320
And we now have a way to protest
against it. 

1285
01:15:32,840 --> 01:15:36,720
And that protest is buying 
Bitcoin, earning Bitcoin, mining

1286
01:15:36,720 --> 01:15:39,880
Bitcoin, taking that Bitcoin 
into self custody. 

1287
01:15:40,360 --> 01:15:44,520
If enough of the population does
that, we win by default. 

1288
01:15:44,920 --> 01:15:47,960
It's game set match. 
I would say that percentage is 

1289
01:15:47,960 --> 01:15:51,480
about roughly 5 to 10% of the 
population. 

1290
01:15:52,160 --> 01:15:55,680
If 5 to 10 of the population, 
5%, five to 10% of the 

1291
01:15:55,680 --> 01:16:00,120
population in your country opts 
out into Bitcoin and they use 

1292
01:16:00,120 --> 01:16:03,200
Bitcoin as their unit of 
account, as their primary 

1293
01:16:03,200 --> 01:16:07,240
monetary unit, I'm telling you 
like it's game over. 

1294
01:16:07,240 --> 01:16:12,000
It's done because their power 
derives from the fact that 

1295
01:16:12,000 --> 01:16:14,600
people are using this said 
currency. 

1296
01:16:15,000 --> 01:16:19,320
If more and more people opt out 
and they choose not to use that 

1297
01:16:19,320 --> 01:16:23,880
said currency because it's 
corrupt, then it takes away 

1298
01:16:23,880 --> 01:16:26,800
their power, right? 
And This is why you're seeing 

1299
01:16:26,800 --> 01:16:28,920
the system fight back. 
This is why you're seeing the 

1300
01:16:28,920 --> 01:16:31,760
two tier justice system. 
This is why we're highlighting 

1301
01:16:31,760 --> 01:16:36,320
you the fact that, you know, 
crypto exchange developers and 

1302
01:16:36,320 --> 01:16:40,360
privacy wallet developers get 
locked in prison while the banks

1303
01:16:40,720 --> 01:16:43,800
get, you know, slap on the risk 
in a fine, right? 

1304
01:16:43,960 --> 01:16:47,200
Like this is the separation of 
money and say this election 

1305
01:16:47,200 --> 01:16:49,480
coming up is incredibly 
important less than a month from

1306
01:16:49,480 --> 01:16:51,560
now, right? 
It's going to determine the 

1307
01:16:51,560 --> 01:16:53,800
regulatory environment in the 
United States for the next 4 

1308
01:16:53,800 --> 01:16:56,000
years. 
So yeah, I mean, but this is 

1309
01:16:56,000 --> 01:16:57,960
what it's all about. 
We'll be your guide through this

1310
01:16:58,240 --> 01:17:01,480
through these chaotic times. 
But I'm telling you, my money, 

1311
01:17:02,000 --> 01:17:07,960
literally no pun intended, is on
incentives versus coercion. 

1312
01:17:08,120 --> 01:17:11,000
And I think anything the state, 
the only thing they have left is

1313
01:17:11,000 --> 01:17:13,840
coercion. 
And we have incentives on our 

1314
01:17:13,840 --> 01:17:15,800
side. 
And I think incentives are going

1315
01:17:15,800 --> 01:17:19,760
to rule the day in my humble 
opinion, because like, look, if 

1316
01:17:19,760 --> 01:17:22,720
you look at Cuba, if you look at
East Berlin and West Berlin, 

1317
01:17:23,040 --> 01:17:25,800
they had to build a wall. 
And even when they built a wall,

1318
01:17:25,880 --> 01:17:28,520
people still wanted to escape 
for freedom. 

1319
01:17:28,520 --> 01:17:31,840
With Cuba, people are literally 
risked their lives to build a 

1320
01:17:31,840 --> 01:17:35,400
raft to come to Miami for 
freedom, right? 

1321
01:17:35,480 --> 01:17:39,400
So even in countries where 
they've made, you know, Bitcoin 

1322
01:17:39,400 --> 01:17:41,880
illegal, right, people still use
Bitcoin. 

1323
01:17:41,880 --> 01:17:44,640
Why they they want the benefits 
of Bitcoin? 

1324
01:17:44,640 --> 01:17:47,400
So, you know, look at the war on
drugs. 

1325
01:17:47,400 --> 01:17:49,040
That didn't really work out that
much. 

1326
01:17:49,240 --> 01:17:51,600
And you can't look at me 
straight in the eye as a 

1327
01:17:51,600 --> 01:17:55,760
politician and tell me that 
writings 12 writing down 12 

1328
01:17:55,760 --> 01:17:57,760
words is somehow dangerous to 
society. 

1329
01:17:58,000 --> 01:18:01,560
Like like come on now dude. 
Anyways guys, this is what the 

1330
01:18:01,560 --> 01:18:02,880
peaceful revolution is all 
about. 

1331
01:18:03,080 --> 01:18:06,240
This was simply Bitcoin live for
October 14, 2024. 

1332
01:18:06,240 --> 01:18:08,640
I'm your host Nico. 
It's my legendary Co host 

1333
01:18:08,640 --> 01:18:11,120
Optimus Fields. 
I will be live streaming for the

1334
01:18:11,120 --> 01:18:15,280
next two weeks until Lugano in 
Switzerland from Paris, France. 

1335
01:18:15,280 --> 01:18:17,600
So it's going to be some 
hopefully it gets some some 

1336
01:18:17,600 --> 01:18:19,480
better scenes and some special 
things. 

1337
01:18:19,600 --> 01:18:23,200
Maybe I'll bring out a baguette 
to tomorrow's show, but anyways,

1338
01:18:23,200 --> 01:18:24,640
guys, I hope you guys enjoyed 
the show. 

1339
01:18:24,720 --> 01:18:27,280
Smash the like button, consider 
subscribing, and we'll see you 

1340
01:18:27,280 --> 01:18:32,520
tomorrow for a brand new episode
of Simply Bitcoin Live if you 

1341
01:18:32,520 --> 01:18:36,520
buy bitcoinwell.com, a Bitcoin 
only platform on a mission to 

1342
01:18:36,520 --> 01:18:38,320
enable financial independence.