WEBVTT 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.