1 00:00:13,039 --> 00:00:52,439 Don't they the lifting don't get the the the the the the the the the 2 00:00:53,119 --> 00:01:46,439 the the the the the the the the the the the the the do do? 3 00:02:00,879 --> 00:02:05,640 All right? Welcome back to another episode. My friend Cameron McGregor joins 4 00:02:05,719 --> 00:02:07,319 us. You know, I'm still a little sick. Excuse me. Cameron 5 00:02:07,879 --> 00:02:12,319 has joined us a couple of times and we've had some really good conversations about 6 00:02:12,360 --> 00:02:17,000 masculinity, economics, about sexuality, the dating market. Today, we want 7 00:02:17,039 --> 00:02:21,520 to get into some other issues relating to some geopolitics, a little bit of 8 00:02:21,560 --> 00:02:27,000 economics, and Cameron wants to get into the topic of the rise of mascot 9 00:02:27,120 --> 00:02:30,159 and nationalism. So why don't we start with maybe the video that you recently 10 00:02:30,240 --> 00:02:34,319 did. The last video did was called Winter is Coming, and you talked 11 00:02:34,319 --> 00:02:38,639 about the fourth turning and then you talked about the vacuous nature of the economic 12 00:02:38,719 --> 00:02:43,520 system. You've been pretty accurate in the last year or two since I've known 13 00:02:43,599 --> 00:02:49,639 you, talking about how the economic system is really just a bunch of it's 14 00:02:49,680 --> 00:02:53,240 all vacuus, it's empty, it's basically you know, FIA, it's all 15 00:02:53,360 --> 00:02:59,400 based around that it's collapsing. Catch us up on that first, and what 16 00:02:59,520 --> 00:03:01,240 do you mean by first of all, tell us about for turning, why 17 00:03:01,319 --> 00:03:05,639 it matters that book, and then what is the winter that you think is 18 00:03:05,719 --> 00:03:09,560 coming? Sure? Well, thanks for having me on again. Jay. 19 00:03:09,560 --> 00:03:14,439 It's always a pleasure to talk to you. I always enjoy your live streams 20 00:03:15,080 --> 00:03:16,960 and I read as much of your material as I can, so as always, 21 00:03:17,080 --> 00:03:22,840 thanks for your perspective. It's always been helpful for me. We're living 22 00:03:22,879 --> 00:03:28,280 in interesting times, no doubt, and my sense is that the rate of 23 00:03:28,479 --> 00:03:32,319 change is beginning to accelerate around the world. So I did a video recently 24 00:03:32,479 --> 00:03:38,759 talking about history in terms of seasons, and that's not a new concept. 25 00:03:38,080 --> 00:03:45,199 Most historians that have talked about broader sweeps of history, whether it's Spangler or 26 00:03:45,319 --> 00:03:50,800 Toynbee or a guy that I'm going to talk about with you on this show 27 00:03:50,919 --> 00:03:58,439 today, even Hal Doon, they all talked about civilizations evolving in the grand 28 00:03:58,520 --> 00:04:02,199 expanse of time in a kind of cyclical fashion, much like seasonal change. 29 00:04:02,960 --> 00:04:09,000 And so in the late nineties there was a book that addressed many of these 30 00:04:09,120 --> 00:04:15,240 themes by I think doing a good job of assimilating lots of different influences Toynbee 31 00:04:15,319 --> 00:04:20,439 and Spangler and others into a very readable, structured book called the Fourth Turning, 32 00:04:20,480 --> 00:04:29,639 and the Fourth Turning essentially argues that generations change or evolve in a life 33 00:04:29,720 --> 00:04:33,800 cycle. I think he called it a seculum that consists of a pattern. 34 00:04:34,279 --> 00:04:39,240 And we are in what he called or what the authors called. There's a 35 00:04:39,279 --> 00:04:43,600 couple of Neil how and I always forget the other one. We are in 36 00:04:43,759 --> 00:04:46,120 what they call the fourth Turning, and the Fourth Turning is I think a 37 00:04:46,240 --> 00:04:49,240 twenty year It's like a two decade period of time in which you get the 38 00:04:49,319 --> 00:04:54,079 completion of a cycle. And I would tend to agree with that. It's 39 00:04:54,199 --> 00:04:59,759 impossible to know where to demarket these cycles exactly. It's not precise. But 40 00:05:00,199 --> 00:05:02,759 they chose the year two thousand and five, which is interesting because that comes 41 00:05:04,160 --> 00:05:09,399 just ahead of two thousand and eight, a very key pivotal moment in the 42 00:05:09,480 --> 00:05:12,560 history of the United States, and that sets the stage for where we are 43 00:05:12,639 --> 00:05:16,680 today financially, meaning that the demolition of the financial system really began in two 44 00:05:16,720 --> 00:05:21,560 thousand and eight because of leverage. There's just simply too much debt and not 45 00:05:21,800 --> 00:05:28,240 enough underlying economic growth underneath it, and there was really no solution in two 46 00:05:28,279 --> 00:05:32,720 thousand and eight other than to let the whole system implode and restructure or reset, 47 00:05:33,120 --> 00:05:39,959 which we didn't allow, or to permit governments to absorb all of those 48 00:05:40,040 --> 00:05:45,680 liabilities on public ledgers, which is what we did. The problem with doing 49 00:05:45,759 --> 00:05:48,800 that, of course, is that that doesn't eradicate the problem, it just 50 00:05:48,920 --> 00:05:53,879 redistributes it. And so that brings us to today, in which, all 51 00:05:53,920 --> 00:05:57,199 of a sudden, we are now beginning to experience, in my view, 52 00:05:57,319 --> 00:06:02,639 Jay, the early stages of debt capacity. And while these words are these 53 00:06:02,720 --> 00:06:08,920 terms that a lot of these economists and investment analysts use, are very esoteric, 54 00:06:09,240 --> 00:06:12,600 they're hard to follow in many respects. At the end of the day, 55 00:06:13,560 --> 00:06:15,480 there's too much debt in the system and there's not enough growth, and 56 00:06:16,079 --> 00:06:19,399 you reach an inflection point in which the debt starts to eat away at the 57 00:06:19,480 --> 00:06:24,399 growth itself. In the West, we tend to call that financialization. I 58 00:06:24,439 --> 00:06:28,360 think that's a good word to use. But the financial system is growing and 59 00:06:28,439 --> 00:06:32,360 growing and growing and growing, and that's best embedded in the federal government itself. 60 00:06:32,560 --> 00:06:38,040 Right. I mean, one wonders, if our revenues aren't growing exponentially, 61 00:06:38,079 --> 00:06:41,639 how is government spending growing exponentially? Well, that's because of the financial 62 00:06:41,720 --> 00:06:46,160 system. The financial system compensates for lack of revenue, lack of real growth 63 00:06:46,199 --> 00:06:50,279 to sustain it. So we're at a critical stage of imbalance. And interest 64 00:06:50,360 --> 00:06:56,079 rates are rising, and they're rising not just because the Federal Reserve, the 65 00:06:56,160 --> 00:07:00,560 Central Bank of the US is increasing them to deal with inflation. They're rising 66 00:07:00,720 --> 00:07:05,240 because the debts in the system are beginning to roll over, and that means 67 00:07:05,279 --> 00:07:11,079 that the cost of capital goes up. It means that banks, households, 68 00:07:11,160 --> 00:07:15,000 governments are beginning to tighten their budgets to whether the storm. And that storm 69 00:07:15,199 --> 00:07:19,720 is this wintery hardship, this age of scarcity, as I call it, 70 00:07:20,279 --> 00:07:26,160 in which everybody buckles down to sort of survive this collapse of the financial system. 71 00:07:26,360 --> 00:07:29,959 And we're in the early stages of that. It appears. Yeah, 72 00:07:30,000 --> 00:07:32,000 we already saw the rumblings of this, like you said two thousand and eight 73 00:07:32,120 --> 00:07:40,240 with the housing collapse, and then we had in just you know, post 74 00:07:40,360 --> 00:07:44,279 COVID, Right, we have a bunch of banks collapsing, Silicon Valley Bank, 75 00:07:44,399 --> 00:07:49,439 We have all these tremors in the crypto arena of these frauds and basically 76 00:07:49,759 --> 00:07:55,879 Democrat Party moneylinering and operations like FTX, all that collapsing and yet bitcoin, 77 00:07:56,079 --> 00:08:00,079 and yet crypto is still here, still running strong. I mean Bitcoin is 78 00:08:00,160 --> 00:08:03,120 up one hundred and forty percent in the last year. So, you know, 79 00:08:03,199 --> 00:08:07,920 I was actually really impressed with a lot of your breakdowns that you do. 80 00:08:09,040 --> 00:08:13,920 You kind of do these in depth slides where you do periodic updates to 81 00:08:13,040 --> 00:08:16,399 the market and you do a lot of traveling, a lot of research, 82 00:08:16,480 --> 00:08:18,240 and you were you were pretty spot on, and you were talking about how, 83 00:08:18,800 --> 00:08:22,680 you know, look for in the coming months, with a lot of 84 00:08:22,720 --> 00:08:26,560 these traditional trad five places going out of business and collapsing, look for the 85 00:08:26,720 --> 00:08:31,439 rise in crypto. It may not be immediate, it might be in the 86 00:08:31,480 --> 00:08:33,559 near future, but you know, I use that time to accumulate in the 87 00:08:33,639 --> 00:08:39,519 last year, and here we are with one hundred and forty percent returns I've 88 00:08:39,559 --> 00:08:43,759 always I believed in bitcoins is twenty seventeen. You did a great video the 89 00:08:43,840 --> 00:08:46,759 other day a couple of weeks ago, and the bitcoins time is now. 90 00:08:46,799 --> 00:08:50,080 I know that we're you know, the crypto market is still small compared to 91 00:08:50,639 --> 00:08:52,960 you know, the rest of the markets, even the gold market, but 92 00:08:54,440 --> 00:09:00,639 we're beginning to see with the what looks like will be approval of et for 93 00:09:00,840 --> 00:09:05,320 bitcoin Blackrock and others. Of course, this is sort of a double edged 94 00:09:05,320 --> 00:09:09,519 sword because my suspicion is that Blackrock is interested in bitcoin not just because of 95 00:09:09,559 --> 00:09:11,960 its fundamentals and its store of value and all that, but also perhaps to 96 00:09:13,399 --> 00:09:16,080 try to try to control it. I think maybe they want to get in 97 00:09:16,240 --> 00:09:20,120 because they think, oh crap, maybe this is the future. We've got 98 00:09:20,200 --> 00:09:22,960 to get in here early and you know, try to steer this into some 99 00:09:24,159 --> 00:09:28,360 sort of manipulation tool. What do you think about all that? It's us 100 00:09:28,399 --> 00:09:33,039 about your idea is on bitcoin electric video and do you think we're at this 101 00:09:33,200 --> 00:09:35,519 point where it really is Bitcoin's time? Will it be another cycle before we 102 00:09:35,600 --> 00:09:41,080 start to see that? And is Blackrock really moving into this to control it? 103 00:09:41,320 --> 00:09:45,919 Yeah, So let's just say at the outset, because when it comes 104 00:09:45,960 --> 00:09:50,200 to bitcoin, there's so much emphasis on the price in fiat, and you 105 00:09:50,279 --> 00:09:54,399 know, prices are erradic Obviously, over the last decade, bitcoin's performance has 106 00:09:54,440 --> 00:10:00,960 been media work, and that in of itself is tremendous. The question is 107 00:10:01,039 --> 00:10:05,039 what is bitcoin? And that's I think where we need to really orient ourselves. 108 00:10:05,679 --> 00:10:13,519 Bitcoin emerged out of the cipherpunk movement, which was centered in San Francisco 109 00:10:13,679 --> 00:10:18,399 in the nineties, and at that time cryptography was beginning to gain momentum. 110 00:10:18,519 --> 00:10:24,679 Now people like Hal Finnie, many of whom think how Phinnie is? Satoshi 111 00:10:26,320 --> 00:10:33,279 Les Len Sassimon's another These were cutting edge thinkers experimenting with cryptocurrency, and their 112 00:10:33,879 --> 00:10:39,360 their view was, actually, actually, do you know that is he? 113 00:10:39,559 --> 00:10:43,240 No? No, I didn't know that. Yeah, yeah, well it 114 00:10:43,279 --> 00:10:48,639 could be, you know, I mean, it's it's not unknown today, 115 00:10:48,960 --> 00:10:50,960 right, It's not. It's not him anymore than it is Cross Seking. 116 00:10:52,080 --> 00:10:56,200 I'm just being silly. I do like watching his videos. But in any 117 00:10:56,279 --> 00:10:58,039 case, I'm sure at some point he may claim that he's the author. 118 00:10:58,320 --> 00:11:05,159 You never know. But in any case, the cipherpunk movement should be credited 119 00:11:05,720 --> 00:11:11,279 with advanced insight into the collapse of the financial system. In other words, 120 00:11:11,279 --> 00:11:16,159 they recognized early on that the financial system, like the information age itself, 121 00:11:16,519 --> 00:11:22,440 posed an existential threat to privacy, to individual autonomy, and that was really 122 00:11:22,559 --> 00:11:26,159 their main concern. Now, of course, fast forward to two thousand and 123 00:11:26,200 --> 00:11:31,919 eight, you get this collapse which appears to destroy the entire Fiat currency system, 124 00:11:31,279 --> 00:11:35,080 and that's when you get the white paper that comes out, and so 125 00:11:35,240 --> 00:11:41,039 that brings us to what bitcoin is. It's a turnkey monetary system. It's 126 00:11:41,080 --> 00:11:43,679 not a speculative asset. It's not a store of value. Again, it 127 00:11:43,759 --> 00:11:48,879 may become those things, it may serve multiple purposes, but at its core, 128 00:11:50,080 --> 00:11:54,519 it is an alternative monetary system. Why did they divine to create such 129 00:11:54,559 --> 00:11:58,200 a thing. Well, because they believe that the collapse of the financial system 130 00:11:58,279 --> 00:12:03,080 was imminent, as we do today. Now, these things always take longer 131 00:12:03,159 --> 00:12:05,799 than one might expect. It's just the nature of history that way. But 132 00:12:07,720 --> 00:12:11,159 that is effectively what bitcoin is. And so what's happening globally, not just 133 00:12:11,240 --> 00:12:16,360 in the United States, and not just amongst major investment corporations like Blackrock. 134 00:12:16,679 --> 00:12:20,080 I think is that there's a recognition of two things. One is that bitcoin 135 00:12:20,200 --> 00:12:26,399 is not simply an interesting speculative bubble or mania. Second that there are real 136 00:12:26,600 --> 00:12:33,440 problems in the financial system, especially in the banks, and so I fully 137 00:12:33,559 --> 00:12:39,639 expect the demolition of the financial system to reignite next year. Why do I 138 00:12:39,759 --> 00:12:45,799 say that, Well, because of unrealized losses, because of higher interest rates. 139 00:12:46,159 --> 00:12:50,039 Because there are these things called the euro dollar market, which is about 140 00:12:50,159 --> 00:12:56,360 ninety three trillion dollars in size, and those are US dollar denominated lending that's 141 00:12:56,480 --> 00:13:01,240 done offshore. Okay, there's also the Asian eurods. In other words, 142 00:13:01,440 --> 00:13:03,840 it's not just the United States. It's not just the strength or weakness of 143 00:13:05,200 --> 00:13:09,440 US banks or the systemically important financial institutions. It's that the entire system is 144 00:13:09,480 --> 00:13:15,480 a doomsday machine that I believe has gone off. And so as that doomsday 145 00:13:15,559 --> 00:13:20,480 machine begins to demolition, or you might say the explosion begins to spread beyond 146 00:13:20,519 --> 00:13:24,559 the regional banks into commercial real estate, into the cities, into US Treasury 147 00:13:24,600 --> 00:13:28,399 bonds, so forth, and so on, you're going to see more and 148 00:13:28,600 --> 00:13:35,600 more and more capital institutions foreigners. Potentially, you might see Latin American countries 149 00:13:35,759 --> 00:13:41,360 beyond El Salvador. I think Argentina is a prime candidate. They're talking about 150 00:13:41,200 --> 00:13:45,639 pegging to the dollar or using the dollars of the peso, but I think 151 00:13:45,639 --> 00:13:48,679 they're going to figure out pretty fast that's probably not a good idea. Bitcoin 152 00:13:48,799 --> 00:13:52,399 is better. So the whole world is moving in this direction. But it's 153 00:13:52,440 --> 00:13:54,080 going to be the countries in Latin America, it's going to be the countries 154 00:13:54,120 --> 00:13:58,320 in Africa, and in the United States, it's going to be you might 155 00:13:58,399 --> 00:14:03,279 say, the more, the more enlightened institutions or folks that are well versed 156 00:14:03,320 --> 00:14:09,960 in how fragile the existing system is that pushes Bitcoin into that next market capitalization 157 00:14:11,320 --> 00:14:13,720 upward. Are we there yet? I'm not convinced that we are. I 158 00:14:13,879 --> 00:14:18,200 think that bitcoin is still very much in a range. I don't think it's 159 00:14:18,240 --> 00:14:22,679 broken out yet, but it's poised to do so. So for your audience 160 00:14:22,759 --> 00:14:26,919 and others that are curious about what to do, I've emphasized a two tier 161 00:14:26,960 --> 00:14:33,679 approach or a too pivot approach. Recognize that the legacy financial system is crumbling, 162 00:14:33,840 --> 00:14:37,440 but it hasn't blown up fully yet, and at the same time that 163 00:14:37,559 --> 00:14:41,879 bitcoin is part of the solution. So you want to pivot slowly away from 164 00:14:41,919 --> 00:14:46,679 the legacy financial system and slowly into the new financial system, which I believe 165 00:14:46,799 --> 00:14:52,759 is going to be Bitcoin and potentially other cryptocurrencies, including ethereum, which I 166 00:14:52,799 --> 00:14:58,440 think is likely going to serve the role of the decentralized financial landscape. We'll 167 00:14:58,440 --> 00:15:01,559 see if that turns out, but I think that's or likely. Yeah. 168 00:15:01,679 --> 00:15:07,960 I mean, I had similar ideas and then we saw a lot of you 169 00:15:07,039 --> 00:15:13,559 know, potential censorship with with ethereum, so I have doubts about ethereum. 170 00:15:13,600 --> 00:15:16,840 I think people will make money on ethereum, and it might have a lot 171 00:15:16,879 --> 00:15:22,840 of use cases for sure, But I'm I'm less less less certain on ethereum 172 00:15:22,879 --> 00:15:26,519 than I used to be. But anyway, I think for sure, you 173 00:15:26,600 --> 00:15:33,159 know, with bitcoin we're going to see huge just short term gains in you 174 00:15:33,240 --> 00:15:35,840 know, giving the giving that the haveling is coming up next year and I 175 00:15:35,879 --> 00:15:41,200 f ETFs are approved. This gives the boomers exposure. 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Do not 209 00:18:25,680 --> 00:18:27,920 buy if you are a Beta, we will refund your money. In the 210 00:18:29,000 --> 00:18:33,839 history of the world, right and this gives them exposure to this new asset. 211 00:18:33,839 --> 00:18:37,200 And I really liked that you pointed out that this isn't really ultimately about 212 00:18:37,759 --> 00:18:41,920 speculating in the short term and making money. That might be what happens to 213 00:18:41,000 --> 00:18:45,640 people, but that's not what bitcoin is, right. It's like, it's 214 00:18:45,720 --> 00:18:49,440 not this new kind of Internet stock, or you speculate on it and make 215 00:18:49,480 --> 00:18:52,559 a bunch of money and then get out of it. I mean, in 216 00:18:52,680 --> 00:18:56,359 the long term, it is the future of money. It is the future 217 00:18:56,400 --> 00:19:02,359 of finance because, like you said, but it's really this miraculous genius invention 218 00:19:02,960 --> 00:19:07,839 that is there to solve a lot of the traditional problems that civilizations and nations 219 00:19:07,880 --> 00:19:11,119 have had with money. And one of those problems is, as you know, 220 00:19:11,559 --> 00:19:17,720 to give the power of printing the money to some centralized bank or some 221 00:19:17,880 --> 00:19:21,599 private entity, which I think can then run it up into infinity. And 222 00:19:21,960 --> 00:19:26,079 that's unfortunately what's happening with the dollar, especially since it's moved off of any 223 00:19:26,640 --> 00:19:33,599 being pegged to anything hard other than other than just pure fiat and faith. 224 00:19:33,359 --> 00:19:37,279 And so we need something better than that. We need it based on math, 225 00:19:37,359 --> 00:19:41,960 we need it based on actual objective value. So I'm curious what you 226 00:19:42,079 --> 00:19:45,880 think about because there's so much talk about black rock etf we didn't get to 227 00:19:47,000 --> 00:19:49,359 that. Do you think that that's an attempt to try to subvert it. 228 00:19:49,799 --> 00:19:55,480 I think that even if that's where it's going long term, I hope they 229 00:19:55,519 --> 00:19:59,559 won't be Hopefully they won't be able to really do that, but it's at 230 00:19:59,599 --> 00:20:03,960 least make surely the price kind of explode in the short term. Do you 231 00:20:03,039 --> 00:20:10,079 think it could well? I mean to some Degrade already has one wonders if 232 00:20:10,319 --> 00:20:15,519 this is a buy the rumor sell the news event. That is certainly within 233 00:20:15,559 --> 00:20:18,519 the realm of possibility. In fact, I think that's very likely that you 234 00:20:18,559 --> 00:20:22,400 could see as sell off next year. The other short term concern, I'll 235 00:20:22,400 --> 00:20:23,920 get the black rock in just a moment. The other short term concern is 236 00:20:25,000 --> 00:20:30,920 that the underlying infrastructure of bitcoin, in terms of the investors, the holders 237 00:20:30,960 --> 00:20:34,440 of it, something like seventy percent of them are long term holders, or 238 00:20:34,440 --> 00:20:37,839 at least they've owned bitcoin for a year or more. Now, that's a 239 00:20:37,960 --> 00:20:44,960 very good thing as long as those long term holders aren't margin called or they're 240 00:20:45,000 --> 00:20:49,039 not liquidated in other manners such that they would have to sell their bitcoin. 241 00:20:49,559 --> 00:20:52,440 Now, could something like that happen. Yeah, I think it's possible that 242 00:20:52,559 --> 00:20:57,839 it could. And if that happens, then you could see Bitcoin retrench or 243 00:20:57,960 --> 00:21:03,000 retrace its gain. It's hard to say, right I don't really know who 244 00:21:03,039 --> 00:21:06,880 those long term holders are, but I do think it's important to be cautious 245 00:21:06,960 --> 00:21:11,440 because we're at the early stages of this and financial assets right now are very 246 00:21:11,559 --> 00:21:15,240 murky. You know. Just as an aside, everybody in on Wall Street 247 00:21:15,319 --> 00:21:22,400 today is very bearish on oil. Oil prices have come down over the last 248 00:21:22,440 --> 00:21:27,480 several months, despite various efforts by OPEC and big players in the oil industry 249 00:21:27,599 --> 00:21:33,079 to put a floor underneath it. All that being said, the fundamentals for 250 00:21:33,160 --> 00:21:37,279 oil are excellent, okay, So at any given time, prices can do 251 00:21:37,400 --> 00:21:40,519 whatever they're going to do. The same thing applies to bitcoin. The fundamentals 252 00:21:40,920 --> 00:21:44,599 in support of bitcoin are strong, and they're strong because the banking system is 253 00:21:44,640 --> 00:21:47,000 a mess, because governments are bankrupt, so forth, and so on. 254 00:21:47,200 --> 00:21:52,599 That being said, the price can still move lower, So just bear that 255 00:21:52,759 --> 00:21:59,000 in mind. Regarding Blackrock, you know, Blackrock is a very powerful institution, 256 00:21:59,240 --> 00:22:03,400 no doubt that. You know, Larry Fink has outsize influence in countries 257 00:22:03,480 --> 00:22:07,799 like France, he's been to Ukraine. There's no question that it is a 258 00:22:08,000 --> 00:22:12,599 menace in many respects. It has a subversive influence, not just in financial 259 00:22:12,680 --> 00:22:17,400 markets, but well beyond that. Your audience and channels well versed in that. 260 00:22:17,480 --> 00:22:21,559 I don't need to go into it. But given Bitcoin's structure, as 261 00:22:21,640 --> 00:22:25,759 you alluded to earlier, I don't think there is much that can be done 262 00:22:26,160 --> 00:22:30,319 to manipulate bitcoin itself, or at least you might say, the blockchain of 263 00:22:30,359 --> 00:22:34,359 bitcoin the danger. I'm the bitcoin, I like dumping and you know, 264 00:22:34,680 --> 00:22:41,160 oh yeah, yeah, yeah. The danger of bitcoin is somewhat similar to 265 00:22:41,680 --> 00:22:45,279 what has happened to gold, and that is that there's gold and the fundamentals 266 00:22:45,480 --> 00:22:51,039 that drive gold supply and demand, and then there's the paper market, the 267 00:22:51,119 --> 00:22:56,079 abstraction, and so you potentially could see something similar like that with bitcoin. 268 00:22:56,160 --> 00:23:02,599 Other words, bitcoin spawns derivatives or abstraction of it that then blow its price 269 00:23:02,640 --> 00:23:04,160 out of proportion, shrink it, so forth, and so on. It's 270 00:23:04,279 --> 00:23:07,920 trickier to do that. And if bitcoin becomes what we think it will, 271 00:23:08,000 --> 00:23:15,640 which is you might say, the fundamental base money to transact and to store 272 00:23:15,759 --> 00:23:19,119 value, that may mitigate that risk. But does that risk exist, Yes, 273 00:23:19,200 --> 00:23:25,279 and that means that black Rock could meddle with the price and could acquire 274 00:23:25,519 --> 00:23:30,359 a substantial amount of it. But I still think given the decentralized structure of 275 00:23:30,480 --> 00:23:33,160 it, I don't think it's going to be able to compromise the asset. 276 00:23:33,240 --> 00:23:37,920 And that speaks to the revolution that is bitcoin. Bitcoin is the printing press. 277 00:23:38,039 --> 00:23:41,599 It is part of this reformation that I keep talking about. It is 278 00:23:41,799 --> 00:23:47,559 cause for tremendous optimism because unlike two thousand and eight, we now have a 279 00:23:47,680 --> 00:23:52,400 potential off ramp. There is a solution to this mess, and Bitcoin, 280 00:23:52,559 --> 00:23:56,079 I think in the West is going to drive that solution forward. The East 281 00:23:56,200 --> 00:23:57,400 is going to be very different. We can talk about that in the moment, 282 00:23:57,799 --> 00:24:02,240 but certainly in the West, Latin America, Africa, a lot of 283 00:24:02,279 --> 00:24:06,559 the developing countries, I think bitcoin is going to become their currency. Yeah. 284 00:24:06,599 --> 00:24:08,920 I mean we've got El Salvador. I think other nations are going to 285 00:24:10,000 --> 00:24:14,160 soon follow and maybe that will signal, you know, kind of a domino 286 00:24:14,240 --> 00:24:18,640 effect. Now, I don't want to Maybe we can stay on the topic 287 00:24:18,680 --> 00:24:22,599 of economics if you have more to get into. But you did a video 288 00:24:22,640 --> 00:24:27,160 America's future destruction or reconstruction. I'd like to talk about some of that maybe 289 00:24:27,440 --> 00:24:30,680 because again, you know, just we're talking about economics, but there's also 290 00:24:32,119 --> 00:24:36,079 cultural decline and collapse. But one thing I like about your analysis is that 291 00:24:36,160 --> 00:24:38,759 you're not blackpilled. You don't give us just this Oh it's all over and 292 00:24:38,920 --> 00:24:44,599 everything's controlled by one group and we're all going to just lose. You offer 293 00:24:44,680 --> 00:24:48,480 a lot of positive information, a lot of positive takes. You know, 294 00:24:48,599 --> 00:24:52,079 you did the Men's Suffering and Resurrection. I thought that was a great talk 295 00:24:52,160 --> 00:24:56,000 because a lot of guys get really down, but you made the great point 296 00:24:56,000 --> 00:25:00,839 of that video that you know, kind of like Nietzsche's says, what doesn't 297 00:25:00,920 --> 00:25:06,240 kill me makes me stronger, going through these things actually makes us better in 298 00:25:06,319 --> 00:25:08,000 the long run, and so it's actually good to go through. You know, 299 00:25:08,039 --> 00:25:11,240 we don't have to be stayed on Massacus or Mascus or whatever. We 300 00:25:11,359 --> 00:25:14,920 have to want to be torture or whatever. Life's going to bring enough pain 301 00:25:15,000 --> 00:25:18,279 and torture to make you strong, but going through these things actually does toughen 302 00:25:18,440 --> 00:25:22,279 us up. So do you want to shift into that or do you want 303 00:25:22,279 --> 00:25:26,160 to stay a little bit on economic topics before we go there. No, 304 00:25:26,319 --> 00:25:33,240 we can certainly talk about America's position. Look, I am optimistic by the 305 00:25:33,319 --> 00:25:37,680 black pillar standards, and I often use about this because the black pillars, 306 00:25:37,920 --> 00:25:41,759 as I'm sure you know, Jay, tend to be the most informed. 307 00:25:41,920 --> 00:25:47,759 They tend to be the most engaged, and they have an abundance of facts 308 00:25:47,839 --> 00:25:52,079 and knowledge and insight, and they should be credited with that. And let's 309 00:25:52,160 --> 00:25:56,480 just be very clear. Nobody knows how these things are really going to unfold. 310 00:25:56,559 --> 00:25:59,599 They could be right, okay, but I don't think so. And 311 00:25:59,680 --> 00:26:02,440 once I should point out as part of the reason I don't think so, 312 00:26:03,200 --> 00:26:07,240 Jays, because I have met or worked with, or spent time with a 313 00:26:07,319 --> 00:26:11,440 lot of these globalists, like figures. I'm going to give you a couple 314 00:26:11,559 --> 00:26:15,039 examples right now. And this is not an effort to name drop as much 315 00:26:15,079 --> 00:26:17,279 as it is just to say, look, I've been around these folks. 316 00:26:17,359 --> 00:26:19,440 Okay, They're not as savvy as you might think. A lot of them 317 00:26:21,200 --> 00:26:26,200 have consumed their own product, which speaks to the danger of the situation that 318 00:26:26,240 --> 00:26:27,759 we're in. When I was at the Naval Academy, I took a class 319 00:26:27,799 --> 00:26:33,079 with Robert Kaplan. So Robert Kaplan wrote Warrior Politics, He wrote The Comming 320 00:26:33,160 --> 00:26:37,759 Anarchy. He wrote a lot of very bizarre books. Balkin Ghosts is probably 321 00:26:37,799 --> 00:26:41,000 his most famous. Robert Kaplan didn't know anything about the military at all. 322 00:26:41,200 --> 00:26:45,880 He was largely clueless about the institution. His concept of international affairs, I 323 00:26:45,920 --> 00:26:49,440 think, has been thoroughly refuted over the last decade or so much. Many 324 00:26:49,480 --> 00:26:55,160 of the predictions that he forecasts have not come to bear. Another one Fred 325 00:26:55,240 --> 00:26:59,119 Kagan. Fred Kagan runs the Institute of the Study of War, I think 326 00:26:59,240 --> 00:27:03,359 is what it's called. He and his wife, they predicted that the Russians 327 00:27:03,400 --> 00:27:07,599 would lose in Ukraine. He was wrong. He doesn't know much about the 328 00:27:07,680 --> 00:27:12,000 military or foreign affairs either. These are people that have an agenda. Now 329 00:27:12,079 --> 00:27:15,440 you could say that maybe it's a facade, maybe they're pretending that they don't 330 00:27:15,480 --> 00:27:18,880 really know, and so I don't know, you know, I'll leave that 331 00:27:18,000 --> 00:27:22,359 to other folks to speculate. But I have interacted with a lot of these 332 00:27:22,440 --> 00:27:27,079 people, and you have to understand that the premise of their worldview is very 333 00:27:27,200 --> 00:27:30,200 Marxist. You know. I know you gave a lecture on this the other 334 00:27:30,319 --> 00:27:36,240 day, but you know, from my vantage point, J and you're better 335 00:27:36,359 --> 00:27:41,079 versed in the dialectical materialism than I. Have no doubt. But at the 336 00:27:41,200 --> 00:27:45,599 end of the day, Marxism rests on the foundation that human beings are fungible, 337 00:27:45,400 --> 00:27:49,119 that there is no there there, there's no spiritual substance or essence with 338 00:27:49,279 --> 00:27:55,480 human beings, that they can effectively be molded, changed, and remolded. 339 00:27:55,599 --> 00:28:00,079 However some central authority decides to do so. Right now, I want to 340 00:28:00,119 --> 00:28:03,200 show off something that we're all proud of. I've got a browser here. 341 00:28:03,680 --> 00:28:11,319 This is Jay Dyers, much vaunted, much sought after philosophy one oh one. 342 00:28:11,079 --> 00:28:15,000 Now he just got this page up. We are just testing it out. 343 00:28:15,039 --> 00:28:15,880 You guys are some of the first people in the world to see it. 344 00:28:17,559 --> 00:28:19,400 I want to say, for my part, it's not philosophy want oh 345 00:28:19,440 --> 00:28:23,400 one. I think this is as mistitling. I really think is as like 346 00:28:23,480 --> 00:28:29,079 philosophy unleashed, because a philosophy want on one course, they give you kind 347 00:28:29,119 --> 00:28:33,000 of some useless information that you can't make sense of. Jay actually lays out 348 00:28:33,160 --> 00:28:37,880 over twelve weeks, dozens and dozens of hours put into just the presentation of 349 00:28:37,960 --> 00:28:41,119 this, let alone the hundreds and thousands of hours of research that it takes 350 00:28:41,160 --> 00:28:45,079 to have a coherent evolution and history of the origins of philosophy, the uses 351 00:28:45,119 --> 00:28:48,920 of philosophy, the different ways to look at it over time, and how 352 00:28:49,039 --> 00:28:53,519 that has been brought about to what we have today, which is almost an 353 00:28:53,519 --> 00:29:00,400 absence of philosophy on the objective, logic and reason side in an overabundant of 354 00:29:00,559 --> 00:29:03,799 woke philosophy that is irrational and is made up day by day as people are 355 00:29:03,880 --> 00:29:07,359 like, I think we should bring racism back, and then here's the justification, 356 00:29:07,559 --> 00:29:11,440 and then it gets woke, afied and spread out, and then all 357 00:29:11,440 --> 00:29:15,279 of a sudden you have a bunch of communist socialist ideas where you become the 358 00:29:15,319 --> 00:29:18,400 property in action. You need to be able to stand on your own ground. 359 00:29:18,680 --> 00:29:22,119 It helps to have a foundation in philosophy because it's a method to fine 360 00:29:22,160 --> 00:29:26,799 truth when you get down to it. Philosophy is there because you love truth 361 00:29:26,960 --> 00:29:30,480 enough to go and learn how to find it, because it's valuable. So 362 00:29:30,000 --> 00:29:33,680 if you're interested in things like that. There is the landing page. We'll 363 00:29:33,680 --> 00:29:37,680 link it up in the notes. It is a longer once, so we'll 364 00:29:37,720 --> 00:29:40,799 get a shorter URL for this. I'm sure Jay has a link on his 365 00:29:40,920 --> 00:29:42,160 page. I just wanted to show it off. Now you know it exists, 366 00:29:42,200 --> 00:29:45,640 you can go look for it and see why this is not your father's 367 00:29:45,640 --> 00:29:51,480 philosophy. Right, So well done. I'm proud of everyone who helped to 368 00:29:51,880 --> 00:29:55,680 produce and edit the course. And of course Jay did a flawless job in 369 00:29:55,799 --> 00:30:00,680 presenting the course over those twelve weeks. And he's a Jugger. He's another 370 00:30:00,759 --> 00:30:03,480 guy just like John Bush, in action all the time, doing something productive, 371 00:30:03,640 --> 00:30:07,279 like very little wasted time in his week, those one hundred and sixty 372 00:30:07,319 --> 00:30:11,440 eight hours of being harnessed. Very well, that's what they believe, and 373 00:30:11,559 --> 00:30:17,559 so you can understand why they believe that Washington d c its military power, 374 00:30:18,039 --> 00:30:22,119 its diplomatic core, can play god with the fate of nations around the world 375 00:30:22,599 --> 00:30:27,079 because of that Marxist core thinking. At the same time, they lack the 376 00:30:27,279 --> 00:30:32,759 insight you might save somebody like Lenin, And Lenin is somebody I have studied 377 00:30:32,799 --> 00:30:36,799 a great deal because Lenin, I don't know how much of his readings you've 378 00:30:36,880 --> 00:30:40,720 perused, Jay, But Lenin had contempt for a lot of the Marxists because 379 00:30:40,759 --> 00:30:45,440 he felt that they were they were these esoteric thinkers. They didn't do anything, 380 00:30:47,039 --> 00:30:49,759 they didn't take action, they weren't acting in the real world, and 381 00:30:51,039 --> 00:30:56,119 so what was Lenin's solution to this. It wasn't propaganda, it wasn't intellectual 382 00:30:56,240 --> 00:31:00,319 coercion, it was the gulag okay. It was a focus on power, 383 00:31:00,480 --> 00:31:04,599 you know, Lenin's. Lenin one of his famous quotes that I reference all 384 00:31:04,640 --> 00:31:11,279 the time is our fighting strategies organization. Right. He laid the foundation for 385 00:31:11,359 --> 00:31:15,000 a lot of the actions of people like Soros and others, not the Marxists. 386 00:31:15,000 --> 00:31:18,680 The Marxists were clueless, and most of their revolutions, especially if you 387 00:31:18,920 --> 00:31:21,680 if you look at the revolutions of eighteen forty eight and so forth, right, 388 00:31:21,759 --> 00:31:25,680 they failed, agreed to their failures, they self destructed. Right. 389 00:31:26,480 --> 00:31:32,079 Lenin's on the other hand, and certainly circumstances were very different in his day. 390 00:31:32,279 --> 00:31:34,759 But Lenin did lead a successful revolution. I'm sad to say it was 391 00:31:34,799 --> 00:31:41,480 a very tragic revolution, but nonetheless it was successful because Lenin was focused on 392 00:31:41,720 --> 00:31:47,759 power and the Marxists focused on ideology. And that's very much the difference you 393 00:31:47,880 --> 00:31:52,279 might say, between a lot of these globalists at the WEF, the folks 394 00:31:52,319 --> 00:31:56,720 that work at the ECB, at the European Commission, you know, the 395 00:31:56,759 --> 00:32:00,359 folks that are in the US government, They are ideological. They believe that 396 00:32:00,480 --> 00:32:05,680 we're in a Manichean fight between good and evil, and so if we disagree 397 00:32:05,720 --> 00:32:08,920 with them, it's because we're evil, it's because we're bad. There's a 398 00:32:09,039 --> 00:32:15,279 whole lot of intellectual thinking or ammunition behind that view. It's very binary, 399 00:32:15,400 --> 00:32:20,039 and frankly, it's intellectually bankrupt. And as a result, their efforts changed 400 00:32:20,079 --> 00:32:24,119 the world and their image have completely failed everywhere, including the United States. 401 00:32:24,160 --> 00:32:28,480 And so now we're beginning to feel the effects of the damage that they've done, 402 00:32:29,160 --> 00:32:30,920 and the population, in my view, and this gets back to your 403 00:32:30,960 --> 00:32:36,200 point, is actually waking up. And it's not just in the United States. 404 00:32:36,519 --> 00:32:40,319 It's happening all over Europe. That's why you're seeing fulminating movements in the 405 00:32:40,400 --> 00:32:45,920 Netherlands, You're seeing it in Slovakia, you're seeing it in France. All 406 00:32:45,079 --> 00:32:50,960 over Europe. There is this growing awareness that these people have wrecked the economy. 407 00:32:51,240 --> 00:32:55,400 They flooded these countries with migrants, yep and all the rest of it. 408 00:32:55,839 --> 00:33:00,440 And rather than sort of just tipping over and abdicating, which a lot 409 00:33:00,480 --> 00:33:02,920 of people at forecast, it seems to me that the opposite is happening, 410 00:33:04,200 --> 00:33:07,440 and what's driving that is the demolition of the economy. Yeah, I just 411 00:33:07,480 --> 00:33:12,680 spent three weeks in Italy, which is where I got throat AIDS or whatever 412 00:33:12,720 --> 00:33:15,960 the hell I've had for the last six weeks being sick. And you know, 413 00:33:16,000 --> 00:33:20,079 there's not every city, but several cities that we went to. We 414 00:33:20,160 --> 00:33:25,400 spent a lot of time all going throughout the entire country. Basically there were 415 00:33:25,480 --> 00:33:31,200 multiple cities where I didn't see any Italians. So this is no joke. 416 00:33:31,640 --> 00:33:37,079 This is this is real, and this is basically like on a continual basis, 417 00:33:37,200 --> 00:33:39,839 right, I mean, the news pops up every day that oh, 418 00:33:40,039 --> 00:33:46,319 Doctors without Borders has helped you know, five thousand refugees come to another Italian 419 00:33:46,400 --> 00:33:50,559 island with a population of two thousand, Right, this is this is in 420 00:33:50,640 --> 00:33:57,400 the news like constantly, and my and it does seem like the sense that 421 00:33:57,440 --> 00:34:00,599 I got on the ground was a lot of angst, a lot of anger, 422 00:34:00,720 --> 00:34:06,079 and a lot of a lot of resentment on the part of the native 423 00:34:06,119 --> 00:34:08,880 Italians that they know this is happening. They don't really know what to do, 424 00:34:09,039 --> 00:34:14,400 but they are beginning to kind of realize this is happening. So you're 425 00:34:14,519 --> 00:34:16,920 right, I think that in the same thing in America, right, that 426 00:34:17,000 --> 00:34:20,360 people are figuring out, Hey, wait a minute, you know this is 427 00:34:21,039 --> 00:34:27,159 seems to be really destructive to the functioning of the system of the country. 428 00:34:27,639 --> 00:34:31,360 So people are waking up. But my and I'm not disagreeing. I think 429 00:34:31,400 --> 00:34:35,480 your analysis. I'll defer to you on a lot of the analytics and the 430 00:34:36,039 --> 00:34:38,079 on the ground analysis. Because I'm a booky, nerd kind of guy. 431 00:34:38,199 --> 00:34:40,840 I don't get a lot of on the ground analysis, so I'll defer to 432 00:34:40,880 --> 00:34:46,320 you on that. My pushback is just this though, doesn't it What about 433 00:34:46,480 --> 00:34:51,159 the idea that there are people who do want to tank this country and tank 434 00:34:51,239 --> 00:34:53,320 this system, and this is where we kind of And that's not that I 435 00:34:53,440 --> 00:34:55,519 know it all, it's just I can't. To me, it seems like 436 00:34:55,679 --> 00:35:00,480 if you wanted to wreck the US and wreck the West, this is the 437 00:35:00,559 --> 00:35:05,679 stuff that you would do, do you And I totally agree with that. 438 00:35:05,760 --> 00:35:09,119 A lot of these people are deluded. They think that they can create and 439 00:35:09,239 --> 00:35:13,519 mold man because man's a tabula ross. He's a blank, slaty, silly 440 00:35:13,599 --> 00:35:16,239 putty. We can just mold him into whatever we want. Because they just 441 00:35:16,320 --> 00:35:20,239 assume that man doesn't have a soul or spirit, that there's not an actual 442 00:35:20,360 --> 00:35:24,559 person that's there that's not within their power to dictate and you know, create 443 00:35:24,679 --> 00:35:30,280 the communist, socialist new Man or whatever. But what about the sort of 444 00:35:30,440 --> 00:35:35,960 out of control, just sort of delusion maniac mad scientists, technocrats who think 445 00:35:36,360 --> 00:35:38,760 will collapse this country and we'll have AI run everything. Now, that may 446 00:35:38,800 --> 00:35:43,199 be a delusion, I think it is. But what about that kind of 447 00:35:43,239 --> 00:35:46,639 a view the of the of the elites that want to they want to collapse 448 00:35:46,679 --> 00:35:51,960 the West in the United States. Yeah, so I'm glad you I'm glad 449 00:35:52,079 --> 00:35:57,599 you made you made reference to to some of the literature that you discuss on 450 00:35:57,679 --> 00:36:02,800 your show, because both things can be true. You can have menacing special 451 00:36:02,880 --> 00:36:08,480 interests that are driving the ship aground, right, that's absolutely the case. 452 00:36:09,119 --> 00:36:15,199 I think that that is self evident. I think it's unassailable. Jay. 453 00:36:15,639 --> 00:36:19,960 At the same time, you can also point to the fact that they're incompetent 454 00:36:20,119 --> 00:36:24,000 or at least the mechanisms of government that they now control, they have self 455 00:36:24,039 --> 00:36:28,079 sabotaged. Right, And so I think in that sense, I think you 456 00:36:28,119 --> 00:36:31,679 can thread that needle. That being said, to your point, the West 457 00:36:34,119 --> 00:36:37,239 and potentially the world, and we can get into this in just a moment. 458 00:36:37,760 --> 00:36:42,480 The West is in dire straits. We are in a precarious situation, 459 00:36:42,920 --> 00:36:45,559 and I try to emphasize that in all my videos. I mean, certainly, 460 00:36:45,480 --> 00:36:51,199 I think that there is enough and these are my terms, civilizational vigor, 461 00:36:51,719 --> 00:36:55,280 to resurrect, to reform, to write the ship. But that's an 462 00:36:55,320 --> 00:37:00,840 opinion, it's a speculation. I think there's evidence for it, but we're 463 00:37:00,920 --> 00:37:07,039 far from a conclusive a conclusive moment, I think we're getting closer to which 464 00:37:07,079 --> 00:37:09,880 way it's going to go. So I think you're exactly right. And furthermore, 465 00:37:10,079 --> 00:37:14,039 I saw evidence for it when I was in the military, right, 466 00:37:14,599 --> 00:37:16,960 I saw evidence for it when I was in graduate school. You know, 467 00:37:17,079 --> 00:37:21,719 I was a teacher in my twenties. I worked for the public school system. 468 00:37:22,119 --> 00:37:25,760 And the effort to poison the well, the effort to subvert, undermine, 469 00:37:27,159 --> 00:37:31,840 and destroy the West, is systematic. It's institutionalized. Absolutely, there's 470 00:37:31,880 --> 00:37:37,000 no question about it. My sense, however, is that the host is 471 00:37:37,079 --> 00:37:42,159 waking up to the parasite. And furthermore, and I think this is very 472 00:37:42,199 --> 00:37:45,800 important to note, this is not the first time this has happened. This 473 00:37:45,920 --> 00:37:51,400 has occurred again and again and again throughout history, and more often than you 474 00:37:51,480 --> 00:37:54,760 might think. The civilizational host wakes up and survives, and I think we 475 00:37:54,960 --> 00:38:01,480 will as well. That being said, if we're going to prevail, we're 476 00:38:01,559 --> 00:38:07,880 going to need to experience a civilizational catharsis, and I think we're getting closer 477 00:38:07,960 --> 00:38:13,679 to that point. But that will not be a zen moment. It will 478 00:38:13,719 --> 00:38:17,880 be a disaster. And my hope is that that disaster and I'm going to 479 00:38:17,920 --> 00:38:22,639 give you a couple examples of what that makes you what the scenarios you think 480 00:38:22,679 --> 00:38:29,079 they might be. The question is can the collateral damage of that disaster be 481 00:38:29,239 --> 00:38:31,079 overcome? Now? I think the answer to that is yes, but I 482 00:38:31,360 --> 00:38:37,519 again, I could be wrong. The most dangerous threat that we face today 483 00:38:37,920 --> 00:38:43,159 is a nuclear confrontation, and the likelihood of a nuclear confrontation is growing by 484 00:38:43,239 --> 00:38:47,280 the month. Is a very dangerous time, and it's largely being driven by 485 00:38:47,360 --> 00:38:52,039 the people that you referenced a moment ago. People in Washington, DC, 486 00:38:52,920 --> 00:38:57,559 you might say, people in vulnerable countries in the Middle East. Okay, 487 00:38:58,760 --> 00:39:02,719 this war in Ukraine could easily have spiraled out of control, and there were 488 00:39:02,840 --> 00:39:07,280 a number of steps to de escalate that could have been taken and they were 489 00:39:07,400 --> 00:39:12,639 not taken. Okay, Second, it below that, a second tier below 490 00:39:12,719 --> 00:39:15,039 that I should say is a major war, a major global war. The 491 00:39:15,199 --> 00:39:21,719 conditions for that major global war are upon us. Right, Ukraine was dangerous 492 00:39:21,800 --> 00:39:25,440 enough. Now these civilizational fault lines, and that's the correct way to look 493 00:39:25,480 --> 00:39:30,119 at this. It's not the good and evil that the globalists tell us, 494 00:39:30,199 --> 00:39:34,880 as you point out, it's a civilizational conflict, and actually speaking, it's 495 00:39:34,920 --> 00:39:39,360 an attempt by civilization on all sides to resurrect itself. In other words, 496 00:39:39,559 --> 00:39:44,800 the West isn't driving this train. It's the globalists that are driving this train 497 00:39:45,280 --> 00:39:49,239 and in an effort to destroy civilization on both sides. All right, So 498 00:39:49,519 --> 00:39:53,000 that's the second danger, and that's beginning to intensify in the Middle East. 499 00:39:53,039 --> 00:39:57,480 We can talk about that more in a moment. The third danger is that 500 00:39:57,639 --> 00:40:04,360 you experience a kind of financial collapse APPS that is irreparable. Now my my, 501 00:40:04,800 --> 00:40:07,800 my own senses, and I'm going to release a video on this sometime 502 00:40:07,880 --> 00:40:12,679 this month. But my own view, Jay is almost the antithesis of conventional 503 00:40:12,719 --> 00:40:17,719 wisdom. I actually think that a financial collapse will restructure the economy, It 504 00:40:17,920 --> 00:40:23,119 will liberate us from this indebted system that's poisoning us. Whereas I think a 505 00:40:23,159 --> 00:40:25,360 lot of people think, well, what can we do to forestall it? 506 00:40:25,440 --> 00:40:30,599 What can we do to tinker on the margins, to fix the system as 507 00:40:30,719 --> 00:40:37,599 is the system as is broken. It's irreix correct Yeah, and and breaking 508 00:40:37,719 --> 00:40:43,360 it is the solution. And this, this, this brings us to daylight 509 00:40:43,440 --> 00:40:47,400 between I think your views or perhaps your sphere and mind, and that is 510 00:40:49,760 --> 00:40:52,679 I think a lot of folks that consume Jay Dyer's content think that their goal 511 00:40:52,880 --> 00:40:53,480 is to break it.