1 00:00:01,639 --> 00:00:11,279 Him, Max Kazer, this is Gary Leland and you're listening episode one forty 2 00:00:11,320 --> 00:00:16,719 three of the Crypto Cousins podcast. Feed your interest in bitcoin and cryptocurrencies by 3 00:00:16,800 --> 00:00:22,440 joining Hall of Fame podcaster Gary Leland on the Crypto Cousins Podcast. And remember 4 00:00:23,199 --> 00:00:28,879 we are all cousins in the world of crypto. This week's price of bitcoin 5 00:00:29,559 --> 00:00:33,320 nine thousand, one hundred and twenty eight dollars. That's down four hundred and 6 00:00:33,359 --> 00:00:38,479 ninety nine dollars, are five point two percent over the past seven days. 7 00:00:38,520 --> 00:00:41,880 Max, How you doing great, Gary, Good to see you. You 8 00:00:41,920 --> 00:00:45,880 know, I haven't seen you since Las Vegas before lockdown. Yeah. Yeah, 9 00:00:46,159 --> 00:00:49,280 you know, Tone just barely got that in. It's un confiscatable. 10 00:00:49,320 --> 00:00:51,719 What do you get that in by like a week? Maybe? Yeah. 11 00:00:51,759 --> 00:00:55,280 We were just staying ahead of the waves, staying ahead of this tsunami, 12 00:00:55,359 --> 00:00:58,600 staying ahead of it the pandemic as it went global. You know, we 13 00:00:58,679 --> 00:01:02,439 were wow y times. Now we're all on lockdown. Yeah. I think 14 00:01:02,479 --> 00:01:06,560 we met before that on the roof at Christians in San Francisco. That's where 15 00:01:06,560 --> 00:01:08,400 I met you and Stacy originally. That was a good time. Also, 16 00:01:08,400 --> 00:01:12,480 a lot of good meat there. That was a good program there at the 17 00:01:14,280 --> 00:01:18,239 I think that was Bitcoin magazine. Yeah, Bitcoin twenty nineteen. It is 18 00:01:18,280 --> 00:01:21,400 a shame they had to cancel twenty twenty. I was really looking forward to 19 00:01:21,480 --> 00:01:25,359 that, really really bad welcome to the show. Like I said, I 20 00:01:25,519 --> 00:01:26,719 was, you know, doing some research on you before you came on the 21 00:01:26,719 --> 00:01:30,680 show, because I've known you and I watched your show a lot. You 22 00:01:30,760 --> 00:01:32,879 know, you and Stacy on the show a lot, but I didn't. 23 00:01:32,959 --> 00:01:37,120 I've never really researched you or found anything out about you personally. I just 24 00:01:37,159 --> 00:01:41,040 knew from watching the show that you've been in the financial markets for quite a 25 00:01:41,040 --> 00:01:44,719 while. But you've been doing the Kaiser Reports since like two thousand and nine. 26 00:01:45,159 --> 00:01:48,079 Yeah, that's correct, sit out the nine Kaiser Report. Before that, 27 00:01:48,120 --> 00:01:55,959 we were doing television shows kind of thematically the same for BBC and other 28 00:01:56,040 --> 00:02:00,680 networks around the world. So we've been doing TV for fifteen sixteen years. 29 00:02:00,719 --> 00:02:06,319 We've been doing podcasting for probably seventeen years. It's all usually the same theme, 30 00:02:06,480 --> 00:02:09,840 the same you know, banksters, bankers, global finance and taking an 31 00:02:09,879 --> 00:02:15,120 insider's look at what goes on at banks and how do they really make money 32 00:02:15,159 --> 00:02:19,080 and what really happens. Because I worked on Wall Street for many years, 33 00:02:19,400 --> 00:02:23,960 and Stacy brought her TV producing chops to the game, and so we put 34 00:02:24,000 --> 00:02:28,439 those two together. That's the formula that's worked now for a long time. 35 00:02:28,639 --> 00:02:30,639 We all seem to make a perfect couple, and you both seem to me. 36 00:02:30,840 --> 00:02:35,199 I mean, I've only mentioned person twice to both really nice people. 37 00:02:35,560 --> 00:02:39,039 So I guess y'all have a good life together there in your hide away wherever 38 00:02:39,080 --> 00:02:44,159 you guys are in seclusion at Well, yeah, that's great. You know, 39 00:02:45,199 --> 00:02:50,919 we're traveling really a NonStop for our seventeen years really, so now we're 40 00:02:50,960 --> 00:02:53,879 you know, now we're on the lockdown. So that's but that's working out 41 00:02:53,879 --> 00:02:57,599 great too. So you know, we always figure out a way to make 42 00:02:57,639 --> 00:03:00,759 it work. So let me ask you a question. How did you get 43 00:03:00,800 --> 00:03:02,759 into bitcoin originally? I know you probably get asked this a lot, but 44 00:03:02,879 --> 00:03:06,879 I don't know, and my audience may not know. But you found it 45 00:03:06,960 --> 00:03:09,879 early, I think because you were telling people to get it. I think 46 00:03:09,879 --> 00:03:13,400 I've heard you say you were telling people to get it at like fifty cents 47 00:03:13,479 --> 00:03:16,960 or something, a dollar a dollar. So we heard about it in twenty 48 00:03:16,960 --> 00:03:23,159 eleven on Kaiser Report, we had John Mtonis was on the show and he 49 00:03:23,199 --> 00:03:27,319 introduced us to it. And you know, I have a patent for digital 50 00:03:27,360 --> 00:03:32,159 scarcity that that was filed in nineteen ninety six, and it covers virtual currencies, 51 00:03:32,199 --> 00:03:38,800 digital scarcity, digital market making, digital securities, digital securities. And 52 00:03:38,159 --> 00:03:43,280 so I already knew about this concept of digital scarcity and how it applies to 53 00:03:43,360 --> 00:03:47,840 networks and markets, and that was sold was part of the business called the 54 00:03:47,840 --> 00:03:53,039 Hollywood Stock Exchange, and the Hollywood Stock Exchange, the business that I created 55 00:03:53,159 --> 00:04:00,120 was sold in two thousand and one to Cantor Fitzgerald on Wall Street, and 56 00:04:00,199 --> 00:04:04,479 they they use that patent to trade derivatives and other types of virtual securities. 57 00:04:04,599 --> 00:04:08,400 So that's so. And I saw the heard about bitcoin to twenty eleven. 58 00:04:08,439 --> 00:04:11,840 I was immediately figured that, wow, you know, this is such a 59 00:04:12,120 --> 00:04:16,800 such an improvement over my attempt to create digital scarcity. So you already knew 60 00:04:16,839 --> 00:04:19,560 then when you saw bitcoin, it just made sense to you already. You 61 00:04:19,560 --> 00:04:24,399 didn't have to sit there. You know. Most and I'm not sure, 62 00:04:24,399 --> 00:04:27,120 but I assume you're close to my age. I'm sixty five, so I 63 00:04:27,160 --> 00:04:30,639 assume you're a boomer. Most boomers I meet just can't even get a concept 64 00:04:30,680 --> 00:04:33,079 to what bitcoin is I don't want to say there's stupid, but they have 65 00:04:33,079 --> 00:04:36,839 a hard time with the concept of money that's not backed by anything, even 66 00:04:36,839 --> 00:04:41,439 though the dollars not backed by anything, so they have they seem to have 67 00:04:41,439 --> 00:04:44,480 a hard time with that. But you right away got it because you were 68 00:04:44,480 --> 00:04:46,560 already involved in that world. I guess, well, yeah, I mean, 69 00:04:46,800 --> 00:04:50,120 it's not the question of what backs the dollar. The question is what 70 00:04:50,279 --> 00:04:54,959 backs gold? Really, that's the question. When you ask about what backs 71 00:04:54,959 --> 00:04:57,399 bitcoin, you have to ask, well, what backs gold? I mean, 72 00:04:57,480 --> 00:05:00,720 the dollars nowhere part of the conversation. We already know that that's not 73 00:05:00,800 --> 00:05:05,680 even worth discussing early. But what backs gold is the question, and what 74 00:05:05,839 --> 00:05:09,720 backs bitcoin? So yeah, when I saw it in twenty eleven, I 75 00:05:09,759 --> 00:05:15,160 already had this idea of digital scarcity and been working on that for a number 76 00:05:15,160 --> 00:05:18,360 of years. Of course, bitcoin has distributed digital scarcity, right, So 77 00:05:18,839 --> 00:05:26,160 that is a whole nother technological breakthrough and a whole nother suite of technology, 78 00:05:26,199 --> 00:05:30,800 and the stack that is the bitcoin stack, is multilayered and has a lot 79 00:05:30,879 --> 00:05:33,879 going on. So I mean I had an affinity for it right away. 80 00:05:34,120 --> 00:05:38,439 But it's not to say that I understood it immediately. You know, it 81 00:05:38,560 --> 00:05:43,959 still takes quite a bit of work to dig into the tech stack and get 82 00:05:44,040 --> 00:05:47,759 familiar with it. But nobody needs really to go down that rabbit hole now 83 00:05:47,839 --> 00:05:53,279 because it's been around for eleven years. It's established itself. Just like the 84 00:05:53,360 --> 00:05:58,000 tcp IP protocol runs the Internet. People don't question that, they just accept 85 00:05:58,040 --> 00:06:00,160 it. Nobody knows how that works. If you ask a million people on 86 00:06:00,199 --> 00:06:04,439 the Internet today to explain tcp IP, you would get a million blank stairs, 87 00:06:04,839 --> 00:06:09,000 right. They don't have any idea how it works. So nobody really 88 00:06:09,360 --> 00:06:12,519 needs to know how bitcoin works at this point. The fact is that it 89 00:06:12,560 --> 00:06:17,040 does work. It's challenging gold and we see now those global hashwark where countries 90 00:06:17,040 --> 00:06:21,199 the game theory that's baked into the protocol has jumped to the sovereign level. 91 00:06:21,480 --> 00:06:26,240 So now you've got Venezuela and Iran are now getting into bitcoin in a big 92 00:06:26,279 --> 00:06:30,639 way. This will bring in other players, and now you've got countries mining 93 00:06:30,639 --> 00:06:36,000 bitcoin strategically increase this is the security, and then that increases the price. 94 00:06:36,160 --> 00:06:41,560 So you know, we're in this new twenty twenty period where we're going to 95 00:06:41,600 --> 00:06:44,879 see some fireworks. Well, you've covered a lot of stuff there. I 96 00:06:45,000 --> 00:06:46,800 really enjoying this conversation. I want to go back to first though, what 97 00:06:46,879 --> 00:06:50,759 you said, because I found that real interesting. What backs goal? Let's 98 00:06:50,759 --> 00:06:56,160 go into a conversation on that real quick. Tell me more about that conversation. 99 00:06:56,279 --> 00:06:59,560 What back's gold? I mean because to me, I always say when 100 00:06:59,759 --> 00:07:01,680 people, well we're telling me and they compare it to gold, you know, 101 00:07:01,800 --> 00:07:03,839 well, I know gold is scarce. I go, I don't know. 102 00:07:03,879 --> 00:07:08,319 They've been mining that stuff since before Jesus was born and doesn't looks like 103 00:07:08,319 --> 00:07:12,439 they're running out yet. And now they're talking about meteors and stuff. So 104 00:07:13,240 --> 00:07:16,399 what back's goal? What's the tell me that has had that conversation. Well, 105 00:07:16,519 --> 00:07:25,879 gold is scarce, and it is scarce. It's distributed scarcity, right, 106 00:07:26,079 --> 00:07:29,560 gold is scarce, then you find it all over the world, and 107 00:07:29,600 --> 00:07:32,399 then it has other properties like it's portable, it's desirable, it's bungeible, 108 00:07:32,480 --> 00:07:38,319 it's divisible, it's impossible to counterfeit. And so you had that all up 109 00:07:38,360 --> 00:07:41,720 and it becomes money. And it's been money for thousands of years after many 110 00:07:41,759 --> 00:07:45,480 trials and earth. They've been in many types of attempts to create money, 111 00:07:45,959 --> 00:07:49,600 but only one is really evolved to be the main money now. You know, 112 00:07:49,639 --> 00:07:55,360 up until bitcoin and that has been gold, and it is. The 113 00:07:55,439 --> 00:08:00,439 scarcity factor is a huge factor. If you know there are there's there's an 114 00:08:00,480 --> 00:08:03,319 attack vector if you will, I mean there could be meteors with gold, 115 00:08:03,360 --> 00:08:07,879 there could be meteor mining, there could be mining in ocean water. There's 116 00:08:07,920 --> 00:08:11,639 a lot of gold in the oceans that could be somehow mined or converted harvested 117 00:08:11,800 --> 00:08:16,040 as gold, and the supply would would go up. But the market doesn't 118 00:08:16,040 --> 00:08:20,680 price those things in the market is aware of that, but at the moment, 119 00:08:20,839 --> 00:08:24,800 it doesn't give it a price because it's not a risk that is worth 120 00:08:24,399 --> 00:08:31,279 impacting the price of gold. If in fact there was if those things became 121 00:08:31,360 --> 00:08:37,960 to existence, if suddenly meteor mining of gold was viable at a cost that 122 00:08:37,519 --> 00:08:41,159 was practical, then you would start to see that reflected in the price of 123 00:08:41,200 --> 00:08:45,679 gold. But for all intents and purposes, at the moment, the scarcity 124 00:08:45,720 --> 00:08:50,559 factor of gold is primary driver of what makes it money, and you find 125 00:08:50,600 --> 00:08:54,120 that with bigcoin as well. You don't have that with fiat money. Obviously, 126 00:08:54,159 --> 00:08:58,960 there's no scarcity at all in fiat money. So that's why it's not 127 00:08:58,080 --> 00:09:01,840 really money. It's a current it's a state currency, it's a government currency. 128 00:09:03,120 --> 00:09:07,519 You can it's a medium of exchange, but it's not technically money like 129 00:09:07,600 --> 00:09:11,879 gold and bitcoin are money. But as gold gets to if gold reaches three 130 00:09:11,879 --> 00:09:16,159 thousand dollars four thousand dollars an ounce, that opens up a revenue of gold 131 00:09:16,159 --> 00:09:20,639 that was too expensive to get before. And now I guess that gold starts 132 00:09:20,679 --> 00:09:24,159 getting mined, and that's kind of an attack factor that brings a price down. 133 00:09:24,559 --> 00:09:26,080 Well, I mean sure, I mean you get to the stock to 134 00:09:26,120 --> 00:09:30,360 flow model, right, so as it applies to gold. That's where stock 135 00:09:30,399 --> 00:09:35,080 to flow was first applied to gold. The amount of you know, the 136 00:09:35,159 --> 00:09:41,399 mining of gold around the world is constrained to some degree by the fact that 137 00:09:41,639 --> 00:09:46,159 there are fewer and fewer big gold deposits that are being found. The one 138 00:09:46,159 --> 00:09:48,000 in South Africa, the gold mine there, I think it's the biggest in 139 00:09:48,039 --> 00:09:50,799 the world, is so deep they're you know, starting to hit lava right 140 00:09:50,799 --> 00:09:54,320 there. They've they've gone down pretty much as far as they can go down. 141 00:09:54,840 --> 00:09:58,559 So you've got this concept of peak gold. It's fine, it's hard 142 00:09:58,600 --> 00:10:03,080 to find gold deposits. They're not finding big ones anymore. A lot of 143 00:10:03,080 --> 00:10:05,360 it's already been pulled out of the ground. If the price goes up, 144 00:10:05,440 --> 00:10:13,879 then you do have more mining activity and that would impact the price. All 145 00:10:13,960 --> 00:10:16,240 those things have been going on for hundreds of years, thousands of years, 146 00:10:16,519 --> 00:10:22,600 and that's but at the net result is gold has been a good store of 147 00:10:22,720 --> 00:10:28,919 value and good money for a long time, and it's you have to focus 148 00:10:30,000 --> 00:10:35,399 maybe less on the supply issue of gold and focus more on the supply issue 149 00:10:35,399 --> 00:10:39,000 of fiat money. Right. So, if the world was on a gold 150 00:10:39,000 --> 00:10:43,879 standard, you would have a much different type of economic reality. But since 151 00:10:43,919 --> 00:10:48,720 we're on a paper money standard, that the paper money is exploding exponentially. 152 00:10:48,879 --> 00:10:52,240 Even if the supply of gold were to suddenly double in a day, the 153 00:10:52,320 --> 00:10:56,279 supply of paper money would expand by one hundred x. You know, in 154 00:10:56,360 --> 00:11:01,919 the next you know, the supply of paper money is expanding exponentially, right, 155 00:11:01,960 --> 00:11:05,080 I mean the Fed printed six trillion dollars in a weekend just a few 156 00:11:05,159 --> 00:11:09,159 days ago, right, I mean, So even if the if goal discoveries 157 00:11:09,200 --> 00:11:13,960 increased by a noticeable amount, you know, two percent, let's say the 158 00:11:15,000 --> 00:11:18,279 average of supply expands from two or three percent, let's say it goes to 159 00:11:18,399 --> 00:11:22,159 five percent or six percent, Right, it doubles, which would be an 160 00:11:22,200 --> 00:11:28,399 extraordinary increase in gold mining if it doubled. But the paper money is expanding 161 00:11:28,480 --> 00:11:33,080 by leaps and bounds many many multiples of that. And that's why we own 162 00:11:33,159 --> 00:11:37,519 goal is to protect us against paper money. It maintains its store of value. 163 00:11:37,679 --> 00:11:39,879 Right, So you're not owning gold, just own gold. You're owning 164 00:11:39,919 --> 00:11:43,240 gold because we live in a fiat paper world. That's why we own gold. 165 00:11:43,240 --> 00:11:48,759 That's why we own Pitpoint. So whatever the supply issues might be with 166 00:11:48,879 --> 00:11:54,120 gold, keep in mind that the supply issues for paper money are extraordinarily much 167 00:11:54,159 --> 00:11:58,080 more, you know, voluminous. Well, but noticetate you just made about 168 00:11:58,159 --> 00:12:03,360 Iran and Venezuela now getting into bitcoin, I think that's a pretty big topic 169 00:12:03,440 --> 00:12:07,480 there. I mean I've been seeing articles like yesterday in Venezuela you can now 170 00:12:07,559 --> 00:12:11,399 get passports with bitcoin. I mean, it's starting to work into societies. 171 00:12:11,799 --> 00:12:18,600 How would you think that's going to affect bitcoin and the United States in long 172 00:12:18,720 --> 00:12:24,759 run? It's great because it built into the Bitcoin protocol. Is that game 173 00:12:24,840 --> 00:12:31,480 theory? And these in the mining space where the global mining center of gravity 174 00:12:31,480 --> 00:12:35,240 you know, has moved around east being Eastern Europe now it's uh, there's 175 00:12:35,320 --> 00:12:39,240 there was a big concentration in China that's breaking up, and we're seeing more 176 00:12:39,279 --> 00:12:43,360 happening in the United States. And so because that's the game theory, as 177 00:12:43,519 --> 00:12:50,120 as in operation, people are willing to take a risk mining and throw resources 178 00:12:50,120 --> 00:12:56,000 at it because of the greed factor. That's a human nature that will never 179 00:12:56,480 --> 00:13:01,879 not be with us. And then now it's jumped up to the sovereign level. 180 00:13:01,960 --> 00:13:07,120 So states like Venezuela and Iran who have been subjected to censorship with the 181 00:13:07,240 --> 00:13:13,879 US dollar transactions, either censoring the swift system for moving money around or sanctions 182 00:13:13,960 --> 00:13:18,320 this type of thing. They are trying to figure out how to escape the 183 00:13:18,399 --> 00:13:22,399 US dollar a gemony. And in the case of Venezuela, of course, 184 00:13:22,399 --> 00:13:26,159 they first experimented with the petru, which was their own cryptocurrency, which they've 185 00:13:26,200 --> 00:13:31,240 realized that actually is never going to work, and now they've migrated to Bitcoin, 186 00:13:31,360 --> 00:13:33,480 which is exactly what we predicted would happen. This is what is happening. 187 00:13:33,720 --> 00:13:37,600 In the case of Iran, I think they've got three percent of the 188 00:13:37,639 --> 00:13:41,600 global hash rate at the moment. They realize that it's a strategic reserve and 189 00:13:41,799 --> 00:13:46,240 it's a way they bypassed US dollar sanctions, and it's a way to get 190 00:13:46,240 --> 00:13:50,759 hard money and they have cheap energy, so they figured it out. So 191 00:13:50,840 --> 00:13:54,879 you know, the world history, you know, is very dynamic. You 192 00:13:54,919 --> 00:13:58,399 know, the winners, today's winners or tomorrow's losers. Right, we can't 193 00:13:58,600 --> 00:14:01,279 just as you're a winner today doesn't mean you're going to be a winner tomorrow. 194 00:14:01,519 --> 00:14:05,000 Just because America has had an empire for one hundred hundred years, one 195 00:14:05,080 --> 00:14:09,519 hundred you know, certainly since World War Two, let's call it seventy years, 196 00:14:09,360 --> 00:14:13,799 doesn't mean America's gonna have an empire next month. Right, Things change? 197 00:14:15,080 --> 00:14:18,320 Yeah, the Roman Empire lasted five hundred years and it's still disappeared, 198 00:14:18,519 --> 00:14:22,080 right, Yeah, things change. And similarly, they messed around with their 199 00:14:22,080 --> 00:14:26,559 currency, didn't they the denarius, right, and that brought down that Rome. 200 00:14:26,720 --> 00:14:30,679 So America is fooling around it with the US dollar, the world reserve 201 00:14:30,759 --> 00:14:35,440 currency, and that's not good that we know from history that usually ends catastrophic, 202 00:14:35,639 --> 00:14:41,200 catastrophically. So I know that both Iran and Venezuela have been left out 203 00:14:41,200 --> 00:14:43,480 of or attacked by the financial system, like they can't use swift in things. 204 00:14:43,480 --> 00:14:48,919 But also you know, both of those countries have cheap energy. So 205 00:14:48,240 --> 00:14:52,759 do you think now that we see countries with cheap energy mining that would move 206 00:14:52,799 --> 00:14:56,840 to Saudi Arabia and those countries next where they have cheap energy. I think 207 00:14:56,879 --> 00:15:00,480 so. I think that's a good way to look at it, because the 208 00:15:00,519 --> 00:15:03,360 other countries if they look at it around and they look at Venezuela and they 209 00:15:03,399 --> 00:15:07,639 say, wait a minute, if these two start controlling a bigger piece of 210 00:15:07,679 --> 00:15:09,440 the global hash ray, they could be the richest countries of the world. 211 00:15:09,559 --> 00:15:13,440 We can't let that happen, right, that's game theory. So yeah, 212 00:15:13,480 --> 00:15:16,639 maybe Saudi Arabia pops in and says, hey, let's start mining bitcoin, 213 00:15:16,919 --> 00:15:20,720 and at some point you're going to have part of the G seven countries or 214 00:15:20,840 --> 00:15:22,559 G twenty country is going to say, hey, you know, we got 215 00:15:22,559 --> 00:15:26,240 to get in on this. You know, maybe a Germany or somebody. 216 00:15:26,759 --> 00:15:31,399 They'll subsidize the mining. But that's where we're headed, and that's what's happening 217 00:15:31,399 --> 00:15:33,799 in twenty twenty. I think that's going to be the biggest story of twenty 218 00:15:33,879 --> 00:15:35,799 twenty, is the global hash war, as I call it. So, 219 00:15:37,120 --> 00:15:39,759 how would the US you think approach that? Would they just start mining? 220 00:15:39,799 --> 00:15:43,639 Try to figure out a way to shut it down with a fifty one percent 221 00:15:43,720 --> 00:15:46,480 attack, or would they just say print the hell out of this money and 222 00:15:46,519 --> 00:15:50,000 start buying bitcoin. Right, Well, you can't shut it down with a 223 00:15:50,039 --> 00:15:52,720 fifty one percent attack, and I'll get to that in a second. What 224 00:15:52,759 --> 00:15:58,320 they'll do is it will be like that Sputnik moment where America entered the space 225 00:15:58,399 --> 00:16:00,240 race. Right first, Russia put up a satellite. Then America said, 226 00:16:00,279 --> 00:16:03,840 oh my god, we can't let them win the space race, and so 227 00:16:03,879 --> 00:16:07,360 we put a man on the moon. America will wake up probably at some 228 00:16:07,440 --> 00:16:10,879 point and say, wait a minute, we can't lose the global hash war, 229 00:16:11,000 --> 00:16:15,240 because that's the most important thing going in the world today. So they 230 00:16:15,279 --> 00:16:18,200 will put a lot of money at it. Hopefully they'll be able to and 231 00:16:18,240 --> 00:16:22,759 the economy won't be completely destroyed before they make that decision. But if they 232 00:16:22,759 --> 00:16:29,720 can print six trillion dollars to bail out some dodgy bankers on Wall Street and 233 00:16:29,799 --> 00:16:33,360 do that in a weekend, right, I mean they can print six trillion 234 00:16:33,360 --> 00:16:36,679 dollars to go mind bitcoin? Well, I would think they can print six 235 00:16:36,759 --> 00:16:38,919 tree and just go buy it. Well, then they can buy it, 236 00:16:40,000 --> 00:16:41,399 right, they can mind it. They can buy it. Sure. Now 237 00:16:41,399 --> 00:16:45,080 as far as the fifty one percent attack goes, there's no possibility of a 238 00:16:45,080 --> 00:16:48,840 fifty one percent attack at this point from any country or any group of countries. 239 00:16:49,159 --> 00:16:52,440 Again, getting back to games theory, the way the protocol is designed 240 00:16:52,559 --> 00:16:57,279 is it attracts people to attack it. And that's part of the way it 241 00:16:57,320 --> 00:17:06,720 works, because it increases the security of the protocol in fact, which is 242 00:17:07,079 --> 00:17:12,839 but by having all this additional computational resources thrown at the mining process. And 243 00:17:12,920 --> 00:17:17,119 then this of course drives a price higher. So the price of that fifty 244 00:17:17,119 --> 00:17:21,359 one percent attack keeps going higher because you keep attacking it. So the more 245 00:17:21,400 --> 00:17:23,119 you attack it, the higher the price of the coin goes. The more 246 00:17:23,119 --> 00:17:27,319 expensive the attack becomes, and you never get to the point where you can 247 00:17:27,359 --> 00:17:32,799 afford to make the attack. So I fully invite every country in the world 248 00:17:32,799 --> 00:17:34,559 to attack it. This is how we get to four or five hundred thousand 249 00:17:34,559 --> 00:17:37,799 dollars a coin. You need the United States to do something stupid like say 250 00:17:37,799 --> 00:17:41,160 we're going to attack bitcoin. That'd be awesome because we'd be at two hundred 251 00:17:41,160 --> 00:17:47,400 thousand on bitcoin the next day. That would be sweet to agree. That 252 00:17:47,440 --> 00:17:49,279 would be very happy if that happened for sure. Hey, before we go 253 00:17:49,319 --> 00:17:52,720 any further, I want to make sure everybody listening knows about bit block Boom, 254 00:17:52,759 --> 00:17:56,599 the Bitcoin conference coming to Dallas, Texas. And I call it a 255 00:17:56,599 --> 00:18:00,480 bitcoin conference because it's not a crypto conference or an all team Prince. It's 256 00:18:00,480 --> 00:18:03,319 a bitcoin conference. But go to bitblockboom dot com and take a look and 257 00:18:03,359 --> 00:18:07,279 see what you think. This will be our third year. So bitblock boom 258 00:18:07,359 --> 00:18:11,160 dot com. Max, something you've talked a lot about. You and Stacey 259 00:18:11,240 --> 00:18:15,720 talked a lot about on the show that I'm not sure I completely understand. 260 00:18:17,119 --> 00:18:19,319 And that's one of the things I'm reason I'm asking is to educate myself, 261 00:18:19,359 --> 00:18:23,279 which I do a lot of these shows to educate myself and hopefully other people 262 00:18:23,279 --> 00:18:29,400 get educated at the same time. Explain to me the Contillion effect. I'm 263 00:18:29,440 --> 00:18:33,240 not sure that I have that down, and I'd like to understand that allreat 264 00:18:33,319 --> 00:18:38,799 Well. It's based on an economist by that name of Contillion, and he 265 00:18:38,920 --> 00:18:44,519 observed that when government prints money, it's not evenly distributed, doesn't go out 266 00:18:44,559 --> 00:18:48,839 evenly across the economy, goes to basically those who are friends of the government 267 00:18:48,920 --> 00:18:53,359 or the friends of the bankers. First they have use of the money immediately, 268 00:18:55,599 --> 00:18:59,680 and in the case of let's say the banks on Wall Street, they 269 00:18:59,680 --> 00:19:03,599 would take that money that the government prints and buy back their own stock and 270 00:19:03,599 --> 00:19:07,400 then that makes their executive stock options go up by thousands of percentage points in 271 00:19:07,440 --> 00:19:11,960 a month. So that's what happens first, And the money stays in that 272 00:19:12,319 --> 00:19:15,799 very close circle, right, It stays in the bank, and it stays 273 00:19:15,799 --> 00:19:21,160 in the executives of the bank, and they create the multi gazillion dollar bonus 274 00:19:21,200 --> 00:19:26,039 for themselves based on that free money. Then there will be a need for 275 00:19:26,119 --> 00:19:33,440 that group of people who just became instabillionaires to hire some cooks, and hire 276 00:19:33,519 --> 00:19:37,640 some chauffeurs, and hire more gardeners for their estates. Right, And then 277 00:19:37,680 --> 00:19:41,160 that's when the money reaches those people, So that a trickle down effect. 278 00:19:41,599 --> 00:19:45,599 Yeah, it gets diluted. It gets constantly deluted. The contilling effect is 279 00:19:45,599 --> 00:19:51,720 that the money purchasing power gets diluted as it works, as it's distributed out 280 00:19:51,799 --> 00:19:56,240 to the periphery of the economy, and it creates a wealth gap in an 281 00:19:56,279 --> 00:20:02,759 income gap because the first users of it are able to engineer extraordinary wealth gains, 282 00:20:03,039 --> 00:20:06,680 and by the by time it gets down to the gardeners and the chefs 283 00:20:06,720 --> 00:20:11,240 and the people running the taxi drivers. They don't have the same opportunity. 284 00:20:11,279 --> 00:20:15,720 They're just now at this point hand them out existence. And it would an 285 00:20:15,759 --> 00:20:22,480 example be of that is how much money the banks and corporations got it right 286 00:20:22,480 --> 00:20:26,000 now while the average person got twelve hundred bucks or whatever. Right, the 287 00:20:26,079 --> 00:20:30,039 bank's got billions, hundreds of billions, and the average person got twelve hundred 288 00:20:30,039 --> 00:20:33,440 bucks. Right. So that's a good example right there, right and months 289 00:20:33,480 --> 00:20:37,559 have gone by. It's not like it's been a week. It's been months 290 00:20:37,799 --> 00:20:40,079 and they've only got in twelve hundred dollars and he can't go to work. 291 00:20:40,200 --> 00:20:42,319 They're locked down. In the two thousand or an eight crisis, you had 292 00:20:42,319 --> 00:20:45,240 a huge bailout of the banks, not the debtors, but the creditors. 293 00:20:45,359 --> 00:20:49,680 That's a good tillion effect. They said, the creditors are at risk of 294 00:20:49,799 --> 00:20:55,039 going out of business even though they made all these faulty, dodgy loans. 295 00:20:55,240 --> 00:20:56,799 So we're going to print a bunch of money and bail them out, but 296 00:20:56,880 --> 00:21:02,759 it won't circulate through the economy to create any kind of wealth for anybody else. 297 00:21:02,759 --> 00:21:06,480 And we see that in the money velocity chart. So the money velocity 298 00:21:06,559 --> 00:21:08,440 chart for the past twenty years has gone straight down. It's almost getting near 299 00:21:08,559 --> 00:21:12,119 zero. That's the impact of the containing effect. It doesn't circulate, doesn't 300 00:21:12,160 --> 00:21:18,559 get it doesn't escape the immediate circle of the bankers and their friends, primarily 301 00:21:18,559 --> 00:21:22,920 other bankers. So the central bank comes to the rescue, but to rescue 302 00:21:22,039 --> 00:21:30,000 certain people. Basically, yeah, as in it a capitalist economy, there's 303 00:21:30,000 --> 00:21:37,359 a competition going on. It's called competitive free market economics. And the competitive 304 00:21:37,839 --> 00:21:42,519 economy ends up with some losers, people who are not competitive, and they 305 00:21:42,519 --> 00:21:48,039 get weeded out. For example, banks that made bad loans. They if 306 00:21:48,039 --> 00:21:51,240 it were a free market, capitalist economy, they would go out of business, 307 00:21:51,279 --> 00:21:53,559 and then those banks would be replaced by new banks, and hopefully new 308 00:21:53,599 --> 00:21:56,559 banks would know how to run a bank better and do a better job. 309 00:21:57,160 --> 00:22:02,279 But in the United States, bad banks are rewarded for failure, and bad 310 00:22:02,279 --> 00:22:07,480 corporations now are rewarded for failure with free money. So you have almost twenty 311 00:22:07,480 --> 00:22:12,000 percent of the SMP five hundred or corporations whose interest costs on their debts are 312 00:22:12,079 --> 00:22:18,079 greater than there are profits, and the response by the central bank is to 313 00:22:18,200 --> 00:22:22,759 keep rewarding them with more debt money, more debt money to actually increase their 314 00:22:22,759 --> 00:22:26,480 debts. Why do they do that because they get a fee packaging all these 315 00:22:26,519 --> 00:22:30,359 bad debts and training them back and forth. And it's a multi one hundred 316 00:22:30,359 --> 00:22:37,079 trillion dollars industry that generates a few percentage points and fees. But two percent 317 00:22:37,160 --> 00:22:41,599 on a one hundred tillion dollars bond sale is you know, is real money. 318 00:22:41,799 --> 00:22:42,640 Yeah, it's a lot of money. Yeah, it's real money. 319 00:22:42,680 --> 00:22:45,680 It's two trillion dollars, right, So if you could make two trillion dollars 320 00:22:45,680 --> 00:22:49,440 by selling one hundred tillion dollars with the worthless government debt or corporate debt, 321 00:22:49,759 --> 00:22:56,519 you know, without any restrictions or legal ramifications you why not because of the 322 00:22:56,559 --> 00:22:59,799 way this money has been handled. I mean, you know, this whole 323 00:22:59,799 --> 00:23:03,759 situation and printing money giving it to the people that are closest to the top, 324 00:23:03,079 --> 00:23:07,880 the people at the bottom getting watered down money, as you say, 325 00:23:07,960 --> 00:23:12,640 or not getting much at all. Anyway, that's pretty much causing inflation and 326 00:23:12,799 --> 00:23:17,839 justice and what we're seeing happening right now in the world, like in Seattle, 327 00:23:18,279 --> 00:23:22,200 you know, of taking the six block area, all the unrest because 328 00:23:22,200 --> 00:23:23,960 people don't have any money and they're getting pissed off and they figure out what's 329 00:23:25,000 --> 00:23:27,160 going on. Is that what we're looking at, is that the effect of 330 00:23:27,200 --> 00:23:32,400 what's happening, well, I mean it's just a roller back for a second. 331 00:23:32,440 --> 00:23:37,599 So you mentioned inflation, and you know this is a widely misused term, 332 00:23:38,640 --> 00:23:47,519 as is deflation. And the problem is deflation. And let me explain. 333 00:23:47,680 --> 00:23:56,200 So the bond market is in America hasn't been this high in the two 334 00:23:56,319 --> 00:24:00,319 hundred and forty years that America has existed. The bond market in the UK 335 00:24:00,799 --> 00:24:03,559 has not been in this this high, and this kind of a the bubble 336 00:24:03,680 --> 00:24:08,519 that the bond sovereign bond markets in in over three hundred years. So the 337 00:24:08,599 --> 00:24:17,319 fuel this multi hundred year bond bubble requires this perpetual infusion of more debt money. 338 00:24:17,480 --> 00:24:22,279 Right, all Fiat money is debt, and it's all being created to 339 00:24:22,319 --> 00:24:27,000 support this ever growing global bond bubble of debt. And that's deflationary because it 340 00:24:27,039 --> 00:24:33,400 has an enormous weight on the global economy of being indebted. It's just like 341 00:24:33,640 --> 00:24:37,920 any an individual would want to you know, if you're in a lot of 342 00:24:37,960 --> 00:24:42,440 debt, it's it's difficult to you know, operate to become profitable well in 343 00:24:42,519 --> 00:24:47,359 the planet Earth. You know, is the debt the GDP for the global 344 00:24:47,359 --> 00:24:52,119 economy is like over three hundred percent, and that's growing quite rapidly. In 345 00:24:52,160 --> 00:24:56,359 America now that debt to GDP is well over one hundred percent. So it's 346 00:24:56,359 --> 00:25:02,759 a debt. It's a deflationary that these debts are constantly going bad, right 347 00:25:02,839 --> 00:25:08,039 every day. Insolvent American government debt. The problem is that because of its 348 00:25:08,079 --> 00:25:12,680 because it's becoming insolvent. So the government creates more debt money to hide the 349 00:25:12,720 --> 00:25:18,319 fact that to try to kick the can down the road and damask the insolvency. 350 00:25:18,720 --> 00:25:22,400 It's an insolvency problem. They claim it's a liquidity problem, but it's 351 00:25:22,440 --> 00:25:26,400 not. It's an insolvency problem. So the American economy is insolvent. The 352 00:25:26,480 --> 00:25:30,759 global economy is insolvent because of deflation, because it went bankrupt, because it 353 00:25:30,960 --> 00:25:36,400 because it died in two thousand and eight. And the cure has been more 354 00:25:36,519 --> 00:25:41,039 debt deflation. Now we talk about prices going up, that's something else that's 355 00:25:41,039 --> 00:25:45,720 the result of price gauging and market failure. The reason healthcare in America is 356 00:25:45,799 --> 00:25:49,720 up so much is because of market failure and price gauging and extortion. The 357 00:25:49,799 --> 00:25:56,240 reason the student costs in America are so high is because of extortion, larcenistic 358 00:25:56,279 --> 00:26:02,599 behavior of banks, mafia pricing, monopoly saying, and market failure. It's 359 00:26:02,599 --> 00:26:07,640 not inflation in the sense that the economy is heating up, wages are going 360 00:26:07,720 --> 00:26:11,519 up, and there's u and bond markets are trading down. That's not. 361 00:26:11,839 --> 00:26:15,519 That's not what's happening. That would be inflation. That's not. That's not 362 00:26:15,559 --> 00:26:21,079 what's happening. We're happening is a deflationary, rolling, deflationary catastrophe that's being 363 00:26:21,119 --> 00:26:26,160 met with a tsunami of more debt money and ruining competition, ruining the economy, 364 00:26:26,240 --> 00:26:33,720 and giving rise to a mafia black market economy of healthcare executives, university 365 00:26:33,759 --> 00:26:38,160 executives, and other and other folks that are operating like an unlicensed you know, 366 00:26:38,279 --> 00:26:42,160 mafia. The mafia pricing is what is what people are seeing and they 367 00:26:42,160 --> 00:26:45,359 say, well, that's inflation. Just to be clear, that's not inflation 368 00:26:45,400 --> 00:26:49,359 in the classical economic sense. That's inflation. Like if you have to borrow 369 00:26:49,400 --> 00:26:53,480 money from a gangster and he charges you a lot for that money, you 370 00:26:53,480 --> 00:26:59,920 wouldn't say to the gangster stop being so inflationary. You know, he'd be 371 00:27:00,119 --> 00:27:02,440 like, give me my money or I'm going to blow your head off. 372 00:27:02,559 --> 00:27:07,279 Right, It's not like pause Prugman or Noriel Roubini. You know, it's 373 00:27:07,279 --> 00:27:11,240 they're gangsters. So when you say, oh, why is my healthcare going 374 00:27:11,359 --> 00:27:17,599 through the roof, it's because you've got gangsters. They're not economists. They're 375 00:27:17,599 --> 00:27:21,400 not operating in a free market economy. Yeah. I always said when I 376 00:27:21,440 --> 00:27:23,799 put my kids through school, I was always amazed because it was going up 377 00:27:23,839 --> 00:27:26,480 ten percent a year, and I always going to wait a second, I 378 00:27:26,559 --> 00:27:30,640 understand this. That land's paid for. Many of those buildings have been paid 379 00:27:30,640 --> 00:27:34,200 for for twenty years. They're tax free, they don't pay taxes because they're 380 00:27:34,200 --> 00:27:37,119 states switching. What in the hell is going up so much over there to 381 00:27:37,160 --> 00:27:41,559 make this go up ten percent every year. It's just because they wanted more 382 00:27:41,559 --> 00:27:45,200 money extortion. Yeah, there was no other reason except they wanted money. 383 00:27:45,319 --> 00:27:48,599 And the same thing you're saying is the true for medical The faculty by large 384 00:27:49,119 --> 00:27:52,799 is not making more money the students once they graduate, they are not really 385 00:27:52,839 --> 00:27:56,960 making any money. So why is the cost of education going up? You 386 00:27:57,000 --> 00:28:02,680 know, we know that because it subsidized through the government through styly May and 387 00:28:02,799 --> 00:28:07,839 student lung you facilities, and that's subsidized by central bankers who are being given 388 00:28:07,880 --> 00:28:11,079 trillions of dollars of free money. And now we're back to the contilling effect 389 00:28:11,559 --> 00:28:14,559 right now. I want to go over something else. I heard you. 390 00:28:14,599 --> 00:28:17,119 I think I heard you today. I'm not sure if this was your latest 391 00:28:17,160 --> 00:28:22,480 episode. Last week, I interviewed Isaiah Jackson with Black Bitcoin and Black America, 392 00:28:22,559 --> 00:28:26,359 and I heard you making a statement on a show, one of your 393 00:28:26,359 --> 00:28:30,440 shows of the last few days that the number one thing you were agreeing with 394 00:28:30,480 --> 00:28:34,759 Isaiah, basically, the number one thing that's going to help America is buying 395 00:28:34,799 --> 00:28:40,000 bitcoin and taking many away from the bankers. That that's going to cause more 396 00:28:40,359 --> 00:28:42,480 damage and more good to Black America than burning statues. I think is what 397 00:28:42,599 --> 00:28:45,519 she said. I don't know if I got that correct, but you were 398 00:28:45,559 --> 00:28:49,039 just making a point that buying bitcoin would be and that's what Isaiah says, 399 00:28:49,400 --> 00:28:52,240 that buying bitcoin would be a great thing to help out not blacks, with 400 00:28:52,400 --> 00:28:56,720 everybody right in the case of black Lives Matter and the civil rights movement in 401 00:28:56,759 --> 00:29:02,279 America that's been active for more than two hundred years. He's going back to 402 00:29:02,640 --> 00:29:07,960 slavery days that extend back to before even the creation of the United States. 403 00:29:07,279 --> 00:29:12,000 One big problem the black community has had, and all people of color have 404 00:29:12,119 --> 00:29:15,319 had and minorities have had in the United States, is that their wealth is 405 00:29:15,359 --> 00:29:21,319 confiscated. Quite often, certainly in the black community, their wealth is confiscated. 406 00:29:22,079 --> 00:29:27,160 We've seen in the two thousand and eight housing crisis, the black homeowners 407 00:29:27,480 --> 00:29:33,079 were unusual. You know, they were eviscerated from banks make they made fraudulent 408 00:29:33,160 --> 00:29:37,799 loans to these families. And then when the government came around and they bailed 409 00:29:37,799 --> 00:29:41,720 out the bankers having made those frauds on the loans, and they took the 410 00:29:41,839 --> 00:29:48,160 homes away from black community and lo and behold, you know the biggest landlord 411 00:29:48,160 --> 00:29:51,599 in the American now is Berkshire Hathaway. You know Warren Buffett, who inherited 412 00:29:51,640 --> 00:29:55,960 suddenly as a gift from the federal government thousands and thousands of housing units. 413 00:29:56,839 --> 00:29:59,720 I guess because he sent them an as Christmas card or something. I'm not 414 00:29:59,759 --> 00:30:03,480 sure when I Warren Buffett is always getting these gifts from the government, but 415 00:30:03,880 --> 00:30:08,000 there it is. So Bitcoin is unconfiscatable. So if you want unconfiscatable wealth 416 00:30:08,079 --> 00:30:11,440 that nobody can take away from you, and you want to build store of 417 00:30:11,480 --> 00:30:17,160 value, and you want to build wealth that bitcoin offers unconfiscatable wealth. This 418 00:30:17,200 --> 00:30:21,920 is the first time ever in history that we've had the ability to save our 419 00:30:21,960 --> 00:30:26,160 wealth in an unconfiscatable store of value. That's my message, and I've been 420 00:30:26,160 --> 00:30:27,839 saying that since twenty eleven when a bitcoin was a dollar. You know, 421 00:30:29,119 --> 00:30:30,839 I reached out to the black community immediately and said, you know, this 422 00:30:30,920 --> 00:30:37,240 is something that the black community should be looking at quite seriously because the protests 423 00:30:37,680 --> 00:30:42,640 are not working and trying to get into political power, it's not working. 424 00:30:42,920 --> 00:30:47,079 You know, it's not working. Nothing's working. But this will work definitely. 425 00:30:47,400 --> 00:30:52,079 And just like people in Venezuela or elsewhere in the world are figuring out 426 00:30:52,160 --> 00:30:55,519 that they need to get out of US dollar a geminy, so too in 427 00:30:55,519 --> 00:30:57,920 America black community is figuring out, you know what, we're oppressed by the 428 00:30:59,000 --> 00:31:02,759 US dollar fiasas them as well, and the only way to stop the oppression 429 00:31:03,440 --> 00:31:06,680 is to have our own individual sovereignty, and the only way to do that 430 00:31:06,920 --> 00:31:11,599 is bitcoin. You know, you're seeing signs now are I've seen Twitter posts 431 00:31:11,599 --> 00:31:15,039 of signs bitcoin, you know, rallies. I saw a person talking about 432 00:31:15,079 --> 00:31:18,400 it at the end of the day at a rally, I mean Isaiah Tom 433 00:31:18,440 --> 00:31:22,519 about it. So I think the word is starting to move through America that 434 00:31:22,920 --> 00:31:29,160 bitcoin is a needed item to help us stay secure and sovereign, or keep 435 00:31:29,160 --> 00:31:30,839 the people sovereign. I guess is what we want to say. Yeah, 436 00:31:30,839 --> 00:31:34,319 I want to ask you a question. What's the deal with your Twitter handle? 437 00:31:36,119 --> 00:31:38,160 You lost your Twitter handle? You got it back. I don't understand 438 00:31:38,160 --> 00:31:42,160 what happened there. Yeah, it's hard to figure out. Well, back 439 00:31:42,200 --> 00:31:49,200 in September of twenty nineteen, my Twitter handle stopped working for me. I 440 00:31:49,279 --> 00:31:53,960 went through all the usual customer support. It just hit a blank wall and 441 00:31:53,960 --> 00:31:59,759 then nothing would happen. And my belief is that somehow that's a bug on 442 00:31:59,759 --> 00:32:02,799 Twitter's part. There. It looked to me like a databased contention issue, 443 00:32:04,160 --> 00:32:07,799 or somehow I got trapped in a loop, a databased contention loop, and 444 00:32:07,319 --> 00:32:10,640 I just wasn't getting anywhere to get this thing working. You know. I 445 00:32:10,680 --> 00:32:15,799 sent them two dozen roses in a box of chocolates to Twitter headquarters and I 446 00:32:15,799 --> 00:32:19,839 said, you know, can you resolve this software issue you have on your 447 00:32:19,880 --> 00:32:24,359 on your end because it's annoying. Then did you actually send them roses and 448 00:32:24,480 --> 00:32:30,960 jo yeah yeah, yeah, oh yeah from one eight hundred flowers, which 449 00:32:30,160 --> 00:32:34,000 uh yeah, it's pretty easy to do. So I sent it to Twitter 450 00:32:34,039 --> 00:32:37,240 headquarters. Then a couple of weeks later, I was talking to my friends 451 00:32:37,240 --> 00:32:42,559 at Swan Bitcoin, yeah, which is kind of a startup, and I'm 452 00:32:42,559 --> 00:32:45,839 now working with them, and they're like, let me see what I can 453 00:32:45,880 --> 00:32:49,839 do. So they got on the case. They well I'm not sure exactly 454 00:32:49,839 --> 00:32:53,119 what they did, but lo and behold, the error was was fixed and 455 00:32:53,200 --> 00:32:57,920 everything was working fine. So that was a few weeks ago, so I 456 00:32:58,000 --> 00:33:00,519 just started working again. You know, I'm winning the early advisors would Swan, 457 00:33:00,640 --> 00:33:06,200 So I'm a big believer in Swan And a matter of fact, they 458 00:33:06,279 --> 00:33:09,920 just got one of my best friends set up on Swan because I couldn't get 459 00:33:09,960 --> 00:33:13,160 him into bitcoin. I kept telling him and telling him, I said, 460 00:33:13,160 --> 00:33:15,559 look, just start buying one hundred dollars worth of this a month or a 461 00:33:15,559 --> 00:33:17,759 week or whatever, so you have some skin in the game and then you'll 462 00:33:17,799 --> 00:33:21,759 start watching it. I think that helps people a lot when they just get 463 00:33:21,799 --> 00:33:23,599 some skin in the game. And I think that's a good way to get 464 00:33:23,640 --> 00:33:27,759 some skin in the game without having to watch it without having to watch the 465 00:33:27,799 --> 00:33:30,240 market, and you start seeing what's happening. It's the easiest way on ramp 466 00:33:30,480 --> 00:33:36,720 to bitcoin is Swan Bitcoin, and it's cheaper than anybody else. It's a 467 00:33:36,759 --> 00:33:40,559 great company. They got great content, great educational materials. People who are 468 00:33:40,599 --> 00:33:46,720 running it are you know, really hardcore bitcoiners, great folks, And yes, 469 00:33:46,960 --> 00:33:51,640 I can totally recommend it to anybody. No coiners, you know, 470 00:33:51,759 --> 00:33:53,880 potential bitcoiners. As you say, you know, you can just sign up 471 00:33:53,880 --> 00:33:59,039 to buy ten dollars a week or one hundred dollars a month or something, 472 00:33:59,160 --> 00:34:01,720 and you know what's what's your downside? There? Nothing really, But once 473 00:34:01,759 --> 00:34:07,039 you start to get into it, then it starts to work on you. 474 00:34:07,279 --> 00:34:10,360 I always say that you don't change bitcoin. Bitcoin changes you. Once you 475 00:34:10,400 --> 00:34:15,239 allow yourself to be influenced by the magic of the protocol, stuff happens. 476 00:34:15,519 --> 00:34:20,119 Well, I think you're right on there. Once you start getting involved with 477 00:34:20,159 --> 00:34:22,559 it, you go down that rabbit hole, whether you want to or not, 478 00:34:22,039 --> 00:34:24,679 you start getting I think, so yeah, yeah, ye. Before 479 00:34:24,679 --> 00:34:28,719 we shut off and go out of here, where can people follow you? 480 00:34:28,840 --> 00:34:31,599 Where can I find your show? Give me the scoops? Because I actually 481 00:34:31,760 --> 00:34:36,920 didn't watch your show until I met you in California. And then I started 482 00:34:37,039 --> 00:34:38,199 seeing your show and I said, oh, that's the people I met in 483 00:34:38,239 --> 00:34:40,840 California. That's how I know what I mean. I'm going, oh, 484 00:34:40,880 --> 00:34:44,039 I know them, I met them. Let's see what there are shows about. 485 00:34:44,559 --> 00:34:47,000 And then I became kind of addicted to your show, and so tell 486 00:34:47,039 --> 00:34:52,639 people where they can get addicted at. Well. Of course, my Twitter 487 00:34:52,719 --> 00:34:58,199 handle Max Kayser. Stacy's Twitter handle is Stacy Herbert, and The Kaiser Report 488 00:34:58,239 --> 00:35:01,920 has a Twitter handle at Kaiser Report. And most people just watch it on 489 00:35:02,119 --> 00:35:07,639 YouTube, so if you do Kaiser Report search on YouTube, you can find 490 00:35:07,679 --> 00:35:12,119 it. It's also dubbed into Spanish now for three or four years, and 491 00:35:12,960 --> 00:35:17,079 it has huge following in Spanish speaking countries. Really, it's just taken off 492 00:35:17,119 --> 00:35:23,559 incredibly. We get hundreds of thousands of Yews every episode dubbed into Spanish. 493 00:35:23,719 --> 00:35:29,760 That's because in the Spanish speaking world, like in Mexico, Argentina, Brazil, 494 00:35:30,159 --> 00:35:34,760 the message of what we're saying hard money in bitcoin, it's real people 495 00:35:34,800 --> 00:35:38,239 there in America is going to be probably the last country to really join the 496 00:35:38,280 --> 00:35:43,079 bitcoin bandwagon, because this is the empire, right. The people in Rome 497 00:35:43,119 --> 00:35:49,039 were the last to really appreciate the barbarians were attacking, right, they didn't 498 00:35:49,039 --> 00:35:53,199 believe it. Marie Antoinette was in denial up until that last cut of the 499 00:35:53,320 --> 00:35:59,119 sword. Right. The people who run the empire are never of the last 500 00:35:59,320 --> 00:36:01,880 two to understand. Yeah, even Hitler and his bunker. I think he 501 00:36:01,960 --> 00:36:06,599 was still planning to win right before he pulled the trigger to blow his brains 502 00:36:06,599 --> 00:36:09,239 out, right, but the head of denial was still there. So in 503 00:36:09,239 --> 00:36:12,880 the US, it's like, no, the US dollar is never going to 504 00:36:12,960 --> 00:36:16,199 topple. It's the We're the king. We're never gonna lose. But you 505 00:36:16,239 --> 00:36:20,880 know I don't. It's the if, the if the US dollar is what 506 00:36:20,920 --> 00:36:24,239 you're hoping is what you're banking. You know, he got some he got 507 00:36:24,239 --> 00:36:28,800 some problems. People look at me like I'm crazy when I make any kind 508 00:36:28,800 --> 00:36:31,920 of statement that correlates that though at all, that says something like, you 509 00:36:31,960 --> 00:36:35,119 know, I think that you know, we were looking at buying a house 510 00:36:35,119 --> 00:36:37,559 and my friend asks, and you know, I think we're just gonna wait 511 00:36:37,639 --> 00:36:42,000 like a year. This is just way too volatible market right now for us 512 00:36:42,039 --> 00:36:45,239 to be buying a house, and maybe to get those houses at thirty percent 513 00:36:45,239 --> 00:36:49,000 off in a year with the way everything's going, and you looked at me 514 00:36:49,039 --> 00:36:51,280 like I was crazy. I mean, what are you talking about? And 515 00:36:51,280 --> 00:36:53,079 that's why do you not keep up with what's going on? I mean, 516 00:36:54,280 --> 00:36:57,320 yeah, Well, I mean, like I said, this is not where 517 00:36:57,320 --> 00:37:01,440 you're gonna find except for the community in America because they need it, because 518 00:37:01,480 --> 00:37:08,199 they've been suppressed and oppressed by the dollar for the entire existence here. So 519 00:37:08,320 --> 00:37:12,559 they they you know, they're getting it. They get it that this is 520 00:37:12,559 --> 00:37:15,320 where we're going to see a big move. So before we get out of 521 00:37:15,360 --> 00:37:16,400 here, first of all, I appreciate you taking the time to come on. 522 00:37:16,639 --> 00:37:21,159 I really do. Um. I was wanting to ask you those questions 523 00:37:21,159 --> 00:37:22,960 A lot of times are questions I want to know. So I figure I'm 524 00:37:23,000 --> 00:37:27,239 pretty average, Joe. I figure if I like somethin or I'm curious about 525 00:37:27,239 --> 00:37:29,440 something, there are a lot of other people probably that are curious too. 526 00:37:29,800 --> 00:37:31,280 Well. We also have a lot of fun when we're together, Gary, 527 00:37:31,400 --> 00:37:36,039 we're at these various events and stuff. We really usually in the green room 528 00:37:36,119 --> 00:37:42,039 hobnobbing and sharing notes and you know, having some fun. And it was 529 00:37:42,079 --> 00:37:45,119 a pleasure being on your podcast. Well, I appreciate you coming on the 530 00:37:45,159 --> 00:37:49,480 podcast. I really do, and yeah, that's the only issue, you 531 00:37:49,519 --> 00:37:51,440 know. I told my wife earlier in the year, I said, I'm 532 00:37:51,480 --> 00:37:53,880 going to go to more events this year than I've ever been to, and 533 00:37:53,920 --> 00:37:57,119 I had here all set up. I think by now it's going to be 534 00:37:57,159 --> 00:38:00,760 at like ten events. And I've gone to one which I saw you at, 535 00:38:00,840 --> 00:38:04,679 was Tones conference. So this year didn't turn out anything like I planned, 536 00:38:04,840 --> 00:38:08,360 that's for sure. I appreciate you taking the time though to come on 537 00:38:08,400 --> 00:38:13,599 the show. Hopefully I get to see you. It's something soon sounds good. 538 00:38:13,760 --> 00:38:15,960 Thank you, my friend. I hope you've enjoyed today's show, and 539 00:38:15,960 --> 00:38:19,559 I want to give a big thank you to all my cousins out there for 540 00:38:19,639 --> 00:38:22,960 listening and subscribe. If you haven't subscribed yet, just go to cryptocusins dot 541 00:38:23,039 --> 00:38:27,320 com and you'll see the links for all the places that you can subscribe here, 542 00:38:27,320 --> 00:38:29,880 and you want to take a second leave a great review or a four 543 00:38:29,920 --> 00:38:31,960 star rating. Even while you're at it, I also recommend you go to 544 00:38:32,000 --> 00:38:37,280 crypto podcast dot com and see all my other podcasts and websites for the world 545 00:38:37,320 --> 00:38:42,639 of bitcoin. There's a lot of no look at. Thanks for listening to 546 00:38:42,679 --> 00:38:45,559 the Crypto Cousins podcast. Please share the show with your friends. They can 547 00:38:45,599 --> 00:38:51,519 subscribe by going to cryptocusins dot com slash subscribe, and if you want to 548 00:38:51,559 --> 00:38:54,360 know more about Gary, just go to Gary Leland dot com. Make sure 549 00:38:54,480 --> 00:39:00,239 and join Gary and all the cryptocusins every week for a new episode of the 550 00:39:00,280 --> 00:39:06,719 Crypto Cousins podcast. The Crypto Cousins podcast and the information included in the podcast 551 00:39:06,760 --> 00:39:12,320 are not intended as investment advice. Investing in any cryptocurrency is risky and you 552 00:39:12,360 --> 00:39:15,639 should never invest more than you can afford to lose. Always seek professional advice 553 00:39:15,679 --> 00:39:22,239 before investing in any cryptocurrency. Please understand you are using any and all information 554 00:39:22,360 --> 00:39:23,679 from the Crypto Cousins at your own risk.