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how many ounces in a pound,

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I don't know.

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You are the one that refused the metric system.

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I'll have this argument with you, because this is what's blighted Europe, and the

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metric system is a form of tyranny, and it bears no relevance to the real world.

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Yes,

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probably invented by lizards.

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Yeah.

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No, worse, the French.

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Welcome back to the Freedom Footprint show, the Bitcoin

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philosophy show with Knut Svanholm and me, Luke the Pseudo Finn.

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And today we're very excited for our guest, Dominic Frisby, author,

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comedian, musician, and he's been in the Bitcoin space for a really long time.

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he's, uh, the author of the Bitcoin, the future of money from way back in 2014.

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also, Daylight Robbery.

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I really enjoyed that book personally, all about tax.

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It sounds boring, but it isn't.

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And, uh, so we're really excited to have him here.

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So Dominic, welcome to the Freedom Footprint show.

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Uh, my pleasure and thank you very much.

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And I see your name is Pseudo Finn.

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So I've been, uh, given a book on conspiracy theories by my son and

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one of the conspiracy theories is that Finland does not exist.

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Yeah, it's one of my favorites.

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I buy that.

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Yeah, so is this, is this, is this got something to do with your name?

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Well, if it doesn't exist, I'm sitting somewhere that doesn't exist, coming

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right at you from Helsinki, Finland.

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But my name is from, that I am from Canada originally, and then there was this guy,

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Justin Trudeau, and so then I went and moved to Finland, which is much better.

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Uh, okay.

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Well, so, Justin Trudeau, as we know, if we're talking conspiracies,

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we all know what his provenance is.

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Castro.

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Well, uh,

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Well, Castro, or possibly Knut Svanholm himself.

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Bitcoin's answer to Fidel Castro.

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Do I look that old?

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Uh, it must be the beard.

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Anyway, here's the thing about Finland not existing though.

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No countries exist.

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It's all in our heads.

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Well, that's a different, that's a different argument, but yeah, that's a

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different argument and one which I buy.

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But yeah, I've been writing a song about conspiracy theories

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and it's got the line, Jay Z's a Satanist, Finland does not exist.

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JC exist?

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Jay Z, you know Jay Z, whatever he is, a rapper or whatever he is.

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Yeah, a

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Apparently he's a satanist.

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Oh, really?

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Good for him.

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Well, No, there was a South Park episode about Slash not existing,

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you know, Slash from Guns N Roses.

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And that is actually, yeah, it was in, in the episode, it's based on an old

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Dutch tale of Ubersluis or something where, where this is the old folklore

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tale about this guitarist with the top hat that is too good to be true.

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Yeah.

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David

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My favorite is that the royal family, the English royal, British royal family,

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are in fact shapeshifting lizards.

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Wasn't that David Icke's thing?

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No, he thought the Jews were lizards, didn't he?

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For a while.

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there's, there's definitely, the Illuminati are definitely lizards but

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specific, specific to the, um, specific to the Finnish royal family, the English

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British royal family, is they were killed.

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towards the end of World War II by the Luftwaffe, and an alien spaceship that

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was observing mankind saw this happen and decided to, take over their bodies

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because that would be a good position from which to observe humanity, but they're

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not very good shape shifting lizards.

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And so at night, they have to revert to their alien form, and this is why Prince

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Charles, now King Charles, didn't want to sleep in the same bed as Lady Diana,

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because he was going back to his, his alien form, and that's why he insisted

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on sleeping in separate bedrooms.

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But then one night...

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Lady Diana came to visit him in the middle of the night and she discovered

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the truth, about his lizard form and that is why Lady Diana had to be bumped off.

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Oh, okay.

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So if, so technically, if you chop off select parts of the royal

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body, they will grow out again.

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Is that the case?

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I guess so, if lizards do that.

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Yeah.

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We should try.

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We should.

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Give it a go.

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Maybe someone did.

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And it's because they're not very good shape shifting lizards that the royal

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family aren't very good looking and they've all got like big ears and they

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all look a bit weird because they're just not very good shape shifting lizards.

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Oh, yeah, yeah.

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It sounds plausible to

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Yeah, they're the shitcoins of shape shifting losers.

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This is fantastic.

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This, this takes me back to Miami with these conversations were just straight

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into the stupidity and instantly between me and Dominic there as well.

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So, so let's get on with this.

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First question I have for you, Dominic, is why do, why do people

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in the public sector pay taxes?

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I don't know, I've never thought about that, and I'm, I'm, I'm

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gonna give you two reasons.

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One is that, so that the playing field is level for everyone.

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That would be one given reason.

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The other given reason, and the more likely given reason,

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is to maintain the facade.

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That's the answer I was fishing for, I guess.

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Yeah because if they didn't, then, questions would be asked.

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And also, I'll tell you, I'll give you the third reason.

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It's, been quite a long time since I wrote the book, by the way, so the

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material's not that fresh in my mind.

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But one of the arguments is that tax is a system of control.

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We use taxes to control people.

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And so you can't have one group of people who are outside the net of control.

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Even though they're part of the controlling mechanism.

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Yeah, but they're just worker ants.

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They're not the lizards.

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yeah.

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I love the question though about taxes in the public sector, because

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I think it's something that Everyone should ask themselves, like, even

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if you're pro taxes in general, then that makes absolutely no sense.

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Like if you're paying taxes to your employer and your employer pays

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you back, what, why are you paying?

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It, the whole thing is, it's just such a, it's such, it's circular

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and it's a total waste of paper and effort and, it's a total waste.

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It's, it's a, it's not a, it's similar to the argument, if you're, if you can

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print money, why do we need to pay taxes?

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Yeah, that's, that's like the followup question, but that's

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too deep for most people.

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because I don't think most people have any clue how money

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printing works, including myself.

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I've written about, I've written a film and three books and a weekly

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blog about it and I'm still not sure I understand how it works.

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That's, that's the thing, I was reading a, there's a really good guy on Substack

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called John Carter of Mars which is named after a science fiction character

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and he writes the most brilliant stuff and he was writing something

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today, I haven't got to the end of the

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He used the example of a house.

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He was basically moaning, he was trying to work out who's in charge.

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Because so many of the things that we have in our western economies

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are just, they're just there.

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And nobody planned them, nobody voted for them, they're just there.

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And he used the example of a house.

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And when you're building a house, there are all sorts of building

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regulations that you have to comply with.

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And somebody, at some point, in an office somewhere decided on those building

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regulations, you know, the walls need to be this thick and the supports

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need to be this and then somebody else signed off on it and then those became

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mandatory and every house that's built in the country then has to conform to

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these building regulations even though You know, there might be a house in a

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certain situation that, whether hills in a certain way or whatever, that it doesn't

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make sense to build to those regulations.

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And those regulations might not even be that good.

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There might be better ways of building as, as building evolved and so on.

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But somebody decided them, they're now set in stone and you can't build anything

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unless you comply with these regulations.

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And the person that made those regulations, we don't know who

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he is, nobody knows who he is.

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And.

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Or she is, or they are, and um, they've, long since disappeared, and

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they're totally unaccountable for those regulations, and yet the whole country has

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to abide by those regulations, and then what happens is the next door country is

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deciding its regulations, and it doesn't know what to do, and you're in Belgium,

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and Belgium's got, well, Holland's using these regulations, we may as well just

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use the ones the Dutch use, and they copy them, and it goes forward from there.

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And it's that, but with everything in the world, in the, in the system, and

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what I want to write to this guy, and this guy is going, how did it happen?

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Nobody planned this, and it's right down to like, uncontrolled mass migration, it's

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just kind of happening, and nobody's voted for it, nobody's been given a choice,

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and, but the whole thing is in, and what I want to want, what I want to explain

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to him, the whole thing is enabled by fiat, without fiat, none of this stuff

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would have the oxygen, because governments would have to live within their means,

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and they would inevitably have to do less, and so they would have to devolve

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to the free market, almost all the time, and then, you know, people wonder why

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architecture is so bland and uniform, well it's probably because of these,

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it's partly because of metric, but it's also because of these stupid, regulations

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that exist that everyone's building to, and, you know, for me, A building

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is a work of art, and you wouldn't give, like say Van Gogh was painting a

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picture, you wouldn't give final sign off on the picture to a regulator.

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You wouldn't go, yeah, well, the, thickness of the paint has to be

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this, and you're only allowed to use seven different colors and whatever,

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it has to be an artistic choice.

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And so that's why, so when people go, why is architecture so shit?

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It's fiat.

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And why is, you know, why do we have these stupid planning laws?

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Why does this happen?

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Why does that happen?

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Almost all of the time, it goes back to patient zero, which is fiat.

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Absolutely.

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It's like the saying goes, the bureaucracy is expanding to meet the needs of

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the expanding bureaucracy, right?

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So, when you told that story, I have a similar story that a friend told me in

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Amsterdam about a friend of his that was tired of applying and getting denied.

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Applying for stuff for his house and for his company and

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getting denied all the time.

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That's his tackling.

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Portuguese bureaucracy, which is the same as everywhere

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else, but in a different shape.

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But worse.

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But with a Latin accent.

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a window on the upper floor of his house.

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but he was absolutely 100 percent sure that his application would be denied.

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So he sent in an application for removing a window instead,

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which was of course denied.

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So, and then he installed the window, which I think is genius.

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And they didn't, they never checked to see, they never checked to see

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if the window actually existed.

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Of course not.

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That would have cost them money and time and effort.

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Like they, uh, why would they?

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Oh my

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the application is denied, he said, uh, he sent an angry email back or something.

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Oh, okay.

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Then

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So, if you follow that logic, let's say you've got some land.

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And it doesn't have planning permission, and you applied to have the planning

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permission removed, and they denied it, then you've got planning permission.

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yeah, you could build a golf course or

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Yeah, and then you go, then you go, I want to take down that house.

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And they go, no, it's a thing of beauty or whatever.

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And then, uh, and they go, no, you can't take it down, so then

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you've got to put it back up again.

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Yeah, yeah, I love the idea.

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should get AI to do pictures of the house.

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that you want to take down.

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This could actually be a movement, you know, if we could get people in every

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country to start doing this, just applying for the exact opposite of what you're

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actually trying to achieve, getting it denied, and then doing it anyway.

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I love it.

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I love it.

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So like, let me ask you two gents a question, So I discovered what

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fiat money meant and the evils of fiat in about 2005, 2006.

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and the answer to fiat at the time was gold.

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And so that's why I've always had this very soft spot for gold, which

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most Bitcoiners haven't got time for.

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But one thing I've learnt is that, you know, as Cain said, the

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system can remain, irrational.

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Well, a lot longer than you can remain solvent, I've been

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listening to predictions of hyperinflation since forever, but

240
00:13:31,165 --> 00:13:33,961
it never actually materializes.

241
00:13:34,361 --> 00:13:37,861
But then, you know the pound has lost a third of its value

242
00:13:37,891 --> 00:13:40,381
since 2020, just in three years.

243
00:13:41,021 --> 00:13:44,211
We've had cumulative inflation of 32.

244
00:13:44,211 --> 00:13:45,091
5 percent or something.

245
00:13:45,551 --> 00:13:48,441
So that's a third loss of purchasing power in three years.

246
00:13:48,936 --> 00:13:49,666
In the pound,

247
00:13:49,988 --> 00:13:52,628
They should call it, they should call it the compound.

248
00:13:54,953 --> 00:14:00,428
well, the, the inverted compound, but the, but where does, where does Like, what do

249
00:14:00,428 --> 00:14:04,568
you, what's your views of, of collapse and hyperinflation and all the rest of it?

250
00:14:05,080 --> 00:14:09,060
Well, it is happening, it's just not happening in currencies that

251
00:14:09,060 --> 00:14:12,280
are that closely tied to the dollar.

252
00:14:12,960 --> 00:14:16,940
So, the same thing happened to both the Swedish and the Norwegian krona.

253
00:14:17,450 --> 00:14:21,830
Like the Swedish krona has lost 40 percent against the Euro in 10 years,

254
00:14:22,420 --> 00:14:26,000
and the last 7 percent in 6 months.

255
00:14:26,751 --> 00:14:27,891
The Swedish Kona?

256
00:14:28,481 --> 00:14:29,461
The Swedish krona.

257
00:14:29,921 --> 00:14:30,631
Why's that?

258
00:14:31,142 --> 00:14:32,952
Because they've been printing like mad.

259
00:14:33,062 --> 00:14:36,802
The Swedish Riksbank, which is the oldest central bank in the world,

260
00:14:37,162 --> 00:14:38,582
they've been printing like mad.

261
00:14:38,852 --> 00:14:39,942
Even before COVID.

262
00:14:39,942 --> 00:14:44,952
The negative interest rates, Sweden were right on top of that.

263
00:14:45,293 --> 00:14:50,936
Uh, well,

264
00:14:51,562 --> 00:14:54,552
Or sorry, to pay for the welfare which supports the immigration?

265
00:14:55,069 --> 00:14:59,799
I think it's hard to see that parallel directly for people,

266
00:14:59,899 --> 00:15:01,579
but of course it plays a role.

267
00:15:02,004 --> 00:15:04,682
I mean, yeah, why wouldn't it?

268
00:15:04,702 --> 00:15:10,382
If you need to, if you need the state to buy, to, to build houses and pay for

269
00:15:10,382 --> 00:15:12,152
them, then of course that money is...

270
00:15:12,432 --> 00:15:15,712
Yeah, well the state's gotta, and the schools and the hospitals and the blah

271
00:15:15,712 --> 00:15:17,452
blah and the welfare and blah blah blah.

272
00:15:17,736 --> 00:15:23,086
Yeah, but what I'm saying is that all the other currencies, like there's a lot of

273
00:15:23,196 --> 00:15:28,646
smaller currencies around Europe and even worse in Africa and South America, they're

274
00:15:28,646 --> 00:15:30,106
hyperinflating all the time, right?

275
00:15:30,136 --> 00:15:34,426
It's just that we outsource the hyperinflation to, to other countries.

276
00:15:35,021 --> 00:15:38,191
Turkey and Argentina, but they're always hyperinflating, there's nothing new.

277
00:15:38,640 --> 00:15:44,510
No, but I'm saying like, if you take the dollar, which is also inflated,

278
00:15:44,860 --> 00:15:52,521
I mean, the way I see it is the productivity in the world is going up and

279
00:15:53,901 --> 00:15:55,581
productivity is increasing all the time.

280
00:15:55,591 --> 00:15:59,481
Like it's sort of exponential, sort of exponential is a weird word, but,

281
00:15:59,631 --> 00:16:04,571
uh, and the money printing has to keep up with that in order to, uh,

282
00:16:04,611 --> 00:16:06,701
uphold the illusion of stable prices.

283
00:16:07,488 --> 00:16:11,268
And a bit more in order to have some inflation, the 3%.

284
00:16:11,298 --> 00:16:15,265
And then when something like the lockdowns happen, then they need to

285
00:16:15,265 --> 00:16:17,925
print like mad for a couple of years.

286
00:16:17,985 --> 00:16:22,575
And then inflation is all of a sudden, then productivity does not accelerate

287
00:16:22,595 --> 00:16:24,755
at the same rate as it used to.

288
00:16:25,305 --> 00:16:29,405
But I see it as like, yeah, people have been predicting hyperinflation

289
00:16:29,405 --> 00:16:32,185
since at least 2005, as you say.

290
00:16:32,746 --> 00:16:37,556
But there's always a new technology to help fuel the increasing

291
00:16:37,556 --> 00:16:39,256
productivity of absolutely everything.

292
00:16:39,706 --> 00:16:42,616
I mean, in 2005, people didn't have smartphones, right?

293
00:16:43,296 --> 00:16:47,066
Which have, yeah, helped everyone be better at

294
00:16:47,066 --> 00:16:49,351
everything, to a remarkable rate.

295
00:16:49,351 --> 00:16:53,691
So I think this AI revolution might save the central bankers for another 10

296
00:16:53,701 --> 00:16:58,821
years, like, because, because it's, it's making everything, the marginal cost of

297
00:16:58,821 --> 00:17:01,101
production of everything so much cheaper.

298
00:17:01,476 --> 00:17:06,066
So they can, they can kick the can down the road or, uh, I think a

299
00:17:06,066 --> 00:17:10,586
more suitable metaphor is roll the snowball down the hill for, for,

300
00:17:10,886 --> 00:17:12,846
for quite long before it crashes.

301
00:17:13,356 --> 00:17:19,446
So, um, the, the, the increased gains from improved technology,

302
00:17:19,811 --> 00:17:22,061
offset the money printing basically.

303
00:17:22,371 --> 00:17:23,731
Offset the hyperinflation.

304
00:17:23,989 --> 00:17:25,619
Yeah, that's the way I see it.

305
00:17:25,659 --> 00:17:29,939
I think that's the way that's similar to an answer you'd

306
00:17:29,939 --> 00:17:32,529
get from many of my friends.

307
00:17:33,465 --> 00:17:38,275
just come back from the States, it, it, it felt really expensive.

308
00:17:39,075 --> 00:17:43,525
Like in 2007, it was two dollars to the pound.

309
00:17:44,005 --> 00:17:49,969
Now it's a dollar twenty, you know, so that's, what is that, forty percent?

310
00:17:50,829 --> 00:17:51,259
Yeah.

311
00:17:51,459 --> 00:17:52,049
It's awful.

312
00:17:52,394 --> 00:17:56,294
and then on top of that, you've got the fact that food is expensive in America.

313
00:17:56,294 --> 00:17:59,784
I don't know how they all get so fat because food is not cheap.

314
00:18:00,309 --> 00:18:04,379
Well, they're, they have, they've doubled their wealth in

315
00:18:04,379 --> 00:18:06,339
comparison to us in 10 years,

316
00:18:06,369 --> 00:18:06,459
right?

317
00:18:06,579 --> 00:18:07,079
Yeah.

318
00:18:07,929 --> 00:18:12,629
I tell you what, they, it's not so bad in California, but I was in Louisiana for a

319
00:18:12,629 --> 00:18:16,376
bit and you know, when you go to places like the airports and stuff like that

320
00:18:16,376 --> 00:18:18,815
and you just see folk from everywhere.

321
00:18:19,387 --> 00:18:22,447
That nation is being poisoned by its food

322
00:18:22,824 --> 00:18:23,344
Yep.

323
00:18:23,431 --> 00:18:25,309
on an enormous scale.

324
00:18:25,989 --> 00:18:30,915
It's like, if I was writing a sort of Lord of the Rings, allegory of

325
00:18:30,915 --> 00:18:35,565
everything that's going on, one of the things would be all the people

326
00:18:35,565 --> 00:18:37,405
in the free lands have been poisoned.

327
00:18:38,405 --> 00:18:42,685
Because that's, that would be one of the, like, Everywhere you look,

328
00:18:42,935 --> 00:18:46,525
there is barely, like you go, in Europe, there's quite a few fat

329
00:18:46,525 --> 00:18:48,875
people, you know, overweight people.

330
00:18:50,235 --> 00:18:55,195
but, there's also some, you know, very slim people as well.

331
00:18:55,195 --> 00:18:58,695
And I think generally speaking, the food is less poisonous in

332
00:18:58,695 --> 00:19:00,135
Europe than it is in America.

333
00:19:00,655 --> 00:19:04,855
It's less processed, but I've, been reading a lot about seed

334
00:19:04,865 --> 00:19:09,145
oils and it's, all those oils they put in it, in the food.

335
00:19:09,526 --> 00:19:09,806
Yeah.

336
00:19:09,806 --> 00:19:12,286
This is an interesting topic as well.

337
00:19:12,316 --> 00:19:15,806
I think this is such a hard one though, because there's so many

338
00:19:15,806 --> 00:19:19,276
factors playing in, it's kind of hard to see clearly on this.

339
00:19:19,635 --> 00:19:20,035
I mean.

340
00:19:20,525 --> 00:19:26,415
The fact that there, there, you need a car to get anywhere in America, there's

341
00:19:26,485 --> 00:19:32,793
like, there's no sidewalks or pavements, to use a more British term, that's, uh,

342
00:19:32,803 --> 00:19:37,263
that must factor in, but I saw some, I don't remember where I saw this, but

343
00:19:37,263 --> 00:19:42,133
it was an interesting thread about, you know, uh, obesity in general across the

344
00:19:42,133 --> 00:19:46,943
world, and it's, it's getting higher in most places, but nobody really knows

345
00:19:46,943 --> 00:19:51,963
why, because they're, Uh, cities on higher altitudes, it doesn't, it doesn't

346
00:19:51,963 --> 00:19:56,333
matter if it's on a plateau and doesn't have any hills or anything in them, but,

347
00:19:56,453 --> 00:20:01,323
but cities on, uh, in higher altitudes, on a higher altitudes apparently have,

348
00:20:01,623 --> 00:20:04,263
uh, way, way lower obesity levels.

349
00:20:04,638 --> 00:20:04,908
Yeah.

350
00:20:04,918 --> 00:20:05,638
Metabolisms.

351
00:20:06,004 --> 00:20:08,253
The metabolism's faster at altitude.

352
00:20:08,604 --> 00:20:12,874
Yeah, that might be it, or it might have to do something with the water, who knows,

353
00:20:12,904 --> 00:20:18,520
like, I don't know what it is, but, but, uh, it's a very strange epidemic, like

354
00:20:18,520 --> 00:20:24,590
the obesity, because Americans didn't used to be this fat, like, uh, not to this

355
00:20:25,285 --> 00:20:28,065
You look at pictures in the 70s, they were not this fat.

356
00:20:28,677 --> 00:20:29,877
I mean, they were fatter than us.

357
00:20:30,626 --> 00:20:34,346
Yeah, but, like, it's, it became a thing in the mid to late 70s.

358
00:20:34,992 --> 00:20:36,272
Uh, it started to happen.

359
00:20:36,562 --> 00:20:40,066
And, I don't, I don't believe people are greedier now.

360
00:20:40,496 --> 00:20:42,306
than they were 30 or 40 years ago.

361
00:20:42,716 --> 00:20:44,646
We're just, we're the same people that we were.

362
00:20:45,246 --> 00:20:48,826
So something in the diet has changed and I'm sure it's those industrial oils.

363
00:20:49,126 --> 00:20:54,526
But yeah, altitude is, like, I, I proposed a TV program once, which

364
00:20:54,526 --> 00:20:59,206
was a load of overweight celebrities, uh, go trekking in the Himalayas.

365
00:21:00,006 --> 00:21:04,486
And, um, watch the weight fall off them, and watch how they deal with

366
00:21:04,496 --> 00:21:08,146
walking in the Himalayas, and it's, it's partly because they wouldn't be

367
00:21:08,156 --> 00:21:12,466
eating shitty Western food, it's partly because they'd be eating healthy,

368
00:21:12,646 --> 00:21:17,736
unprocessed, uh, Nepalese food, and it's partly being at altitude.

369
00:21:18,076 --> 00:21:19,266
and taking exercise.

370
00:21:21,001 --> 00:21:23,711
Nah, that sounds like a costly program to make though, because

371
00:21:23,711 --> 00:21:25,221
you'd have to bribe them, I guess.

372
00:21:25,803 --> 00:21:30,452
No, you, you would be cheap because, you'd be filming outdoors in Nepal

373
00:21:30,805 --> 00:21:33,505
And the overweight celebrities are probably desperate for attention.

374
00:21:34,150 --> 00:21:34,470
Yeah,

375
00:21:34,635 --> 00:21:35,445
yeah, yeah, yeah.

376
00:21:35,930 --> 00:21:37,380
And they're also desperate to lose weight.

377
00:21:37,896 --> 00:21:38,706
Not all of them.

378
00:21:39,495 --> 00:21:40,435
Well, most of them are.

379
00:21:41,782 --> 00:21:46,832
but it was just a casual observation of America is one, it's not

380
00:21:46,852 --> 00:21:49,002
cheap, it felt really expensive.

381
00:21:49,812 --> 00:21:54,952
Like it's very hard to go and have a meal with a couple of drinks and pay less than

382
00:21:54,952 --> 00:21:58,092
100 a head, or no, less than 75 a head.

383
00:21:59,292 --> 00:21:59,802
And,

384
00:22:00,082 --> 00:22:00,812
that's weird.

385
00:22:01,632 --> 00:22:07,022
and it was, it was expensive and the people have been poisoned.

386
00:22:07,453 --> 00:22:08,223
they sure have.

387
00:22:08,433 --> 00:22:12,043
And you say it happened somewhere in the years after 71?

388
00:22:13,063 --> 00:22:13,603
That's when it

389
00:22:13,783 --> 00:22:15,283
Well, there you go.

390
00:22:16,518 --> 00:22:17,858
Might be a connection there.

391
00:22:17,988 --> 00:22:18,378
Yeah.

392
00:22:18,423 --> 00:22:20,993
Yeah, as Safe Dean says, it's fiat food,

393
00:22:21,968 --> 00:22:22,908
Absolutely.

394
00:22:23,705 --> 00:22:28,045
and it's when, it's, it's a classic example, when we were talking before

395
00:22:28,045 --> 00:22:33,450
about planning regulation, building, building stipulations, it's the same

396
00:22:33,450 --> 00:22:38,493
with the regulation of the food industry, like somebody makes decisions, like,

397
00:22:38,503 --> 00:22:42,508
if I run a restaurant, Okay, and I want to run a successful restaurant.

398
00:22:42,778 --> 00:22:44,988
It's not in my interest to poison people.

399
00:22:45,758 --> 00:22:47,668
It's in my interest to feed them really well.

400
00:22:48,208 --> 00:22:51,268
But yet we have to have these food regulations to make sure

401
00:22:51,278 --> 00:22:53,098
that blah, blah, blah, blah, blah.

402
00:22:53,098 --> 00:22:57,376
And then the food regulations come in and then, you know, the industrial

403
00:22:57,376 --> 00:23:01,346
oil companies, the seed oil companies lobby the food regulation people.

404
00:23:01,656 --> 00:23:05,188
And then suddenly, You know, industrial oils are good for you,

405
00:23:05,388 --> 00:23:06,918
and animal fats are bad for you.

406
00:23:07,218 --> 00:23:11,477
Even though we've been eating animal fats perfectly well, thousands of years,

407
00:23:11,497 --> 00:23:14,577
probably since even before we were humans we've been eating animal fats.

408
00:23:15,088 --> 00:23:15,758
Absolutely.

409
00:23:16,068 --> 00:23:20,588
I'm so glad you brought up restaurants because I have a fantastic story from the,

410
00:23:20,598 --> 00:23:25,368
my, my, my brother is the head chef at the restaurant and near where we grew up.

411
00:23:25,853 --> 00:23:30,463
and, uh, they had the, um, health authority visit them.

412
00:23:30,583 --> 00:23:34,473
And it was like eight people to check one restaurant, all government

413
00:23:34,473 --> 00:23:39,732
employees, you know, with filling out forms and, they didn't pass the test.

414
00:23:40,062 --> 00:23:43,292
So they had a couple of things they needed to fix before they could get

415
00:23:43,332 --> 00:23:45,592
the okay stamp from this authority.

416
00:23:46,498 --> 00:23:48,868
but the next day they booked a table for all eight of them.

417
00:23:49,560 --> 00:23:55,300
And I find that so hilarious, so it was good enough for them, but not good

418
00:23:55,300 --> 00:23:56,870
enough for the rest of the population.

419
00:23:57,480 --> 00:24:01,450
And I suspect that's not the first instance that something like that

420
00:24:01,460 --> 00:24:03,500
has happened with health authorities.

421
00:24:04,097 --> 00:24:07,797
That's like the Nazis closing your restaurant down, but before they close

422
00:24:07,797 --> 00:24:08,847
it down they're gonna have dinner.

423
00:24:09,968 --> 00:24:10,518
Same thing.

424
00:24:12,318 --> 00:24:17,418
I usually tell, like, the word Nazi is being thrown around a lot,

425
00:24:18,061 --> 00:24:20,171
I actually meant Germans in World War II.

426
00:24:20,361 --> 00:24:20,471
I

427
00:24:20,611 --> 00:24:21,381
uh, yeah, yeah, yeah.

428
00:24:21,661 --> 00:24:22,851
about Germans in World War II.

429
00:24:23,306 --> 00:24:23,766
Yeah.

430
00:24:23,886 --> 00:24:25,736
And to me, it's pretty simple.

431
00:24:25,736 --> 00:24:30,406
Like if you don't want to be a Nazi, don't be a nationalist and don't be a socialist.

432
00:24:30,766 --> 00:24:31,586
And then you're fine.

433
00:24:32,216 --> 00:24:32,476
That's...

434
00:24:32,601 --> 00:24:35,871
Yeah, but socialists don't like it when you call Nazis socialists.

435
00:24:36,425 --> 00:24:38,835
No, even though it's in the name.

436
00:24:40,355 --> 00:24:40,645
Yeah.

437
00:24:42,475 --> 00:24:42,945
All right.

438
00:24:43,605 --> 00:24:44,665
We're talking about taxes.

439
00:24:44,725 --> 00:24:45,005
Yeah.

440
00:24:46,038 --> 00:24:48,238
Daylight robbery is interesting.

441
00:24:48,238 --> 00:24:50,338
Can you explain the title?

442
00:24:50,338 --> 00:24:54,213
Because I think there's a story about an actual actual thing.

443
00:24:54,223 --> 00:25:01,019
How taxes do stuff to people which was not the original intent of the tax.

444
00:25:01,521 --> 00:25:06,421
Yeah, so, around about the time the Bank of England was formed, uh, after

445
00:25:06,421 --> 00:25:11,588
the, um, Swedish Reiss Bank, We had just had a thing called the Glorious

446
00:25:11,588 --> 00:25:15,988
Revolution, where the king had been deposed and we had this new king,

447
00:25:15,988 --> 00:25:21,260
William of Orange, and in order to ingratiate himself with the people,

448
00:25:21,630 --> 00:25:27,570
he got rid of the most despised tax in the country, which was a hearth tax,

449
00:25:27,570 --> 00:25:32,434
which was basically a tax of fireplaces, so you would have tax inspectors come

450
00:25:32,434 --> 00:25:36,612
round to your house, and count the number of fireplaces you had, and then

451
00:25:36,612 --> 00:25:37,817
you would have to pay a tax figures.

452
00:25:38,762 --> 00:25:43,063
on each fireplace and it was considered an invasion of the

453
00:25:43,073 --> 00:25:45,053
Englishman's sacred privacy.

454
00:25:45,915 --> 00:25:48,945
And so they abolished the tax to make themselves popular.

455
00:25:49,285 --> 00:25:52,025
Then of course they had no money and he had wars to fight.

456
00:25:52,795 --> 00:25:56,485
So somebody came up with this idea, but they had the infrastructure in

457
00:25:56,485 --> 00:25:58,645
place to collect the hearth tax.

458
00:25:58,655 --> 00:26:00,905
So somebody came up with this idea, instead of taxing

459
00:26:00,905 --> 00:26:03,335
fireplaces, they would tax windows.

460
00:26:03,962 --> 00:26:08,562
And the same people who went into your house to count the number of fireplaces

461
00:26:08,582 --> 00:26:12,132
you had, they could just walk past your house and count the number of windows.

462
00:26:12,997 --> 00:26:16,127
It's obviously a very hard tax to avoid because the windows

463
00:26:16,137 --> 00:26:17,367
are there in plain sight.

464
00:26:18,590 --> 00:26:22,140
it's kind of a fair tax because the more windows you have, the richer you are.

465
00:26:23,080 --> 00:26:26,410
So it's considered a, uh, you know, a progressive tax.

466
00:26:27,300 --> 00:26:28,990
The wealthier you are, the more you pay.

467
00:26:29,760 --> 00:26:34,290
But of course, it's not that simple and people in the countryside tended to

468
00:26:34,290 --> 00:26:36,380
have more windows than people in cities.

469
00:26:37,240 --> 00:26:41,115
And, uh, And so it was unfair on people from the countryside.

470
00:26:41,765 --> 00:26:45,435
And then they started building new homes with fewer windows.

471
00:26:46,505 --> 00:26:49,545
And in the cities, at this point, a lot of people were moving to the

472
00:26:49,545 --> 00:26:51,225
cities for the Industrial Revolution.

473
00:26:51,225 --> 00:26:53,265
They were moving from the countryside to the cities.

474
00:26:54,105 --> 00:27:00,916
And unscrupulous landlords, on whom the tax fell, would build these huge

475
00:27:00,946 --> 00:27:03,916
tenement blocks with no windows at all.

476
00:27:04,921 --> 00:27:09,008
And so, thus did they avoid paying the tax.

477
00:27:09,628 --> 00:27:14,628
and this was considered, this made all the illnesses in the industrial

478
00:27:14,628 --> 00:27:18,368
revolution in the cities, cholera, typhoid, all the rest of it, much, much

479
00:27:18,368 --> 00:27:24,778
worse, because they were made worse by these damp, cramp, windowless dwellings.

480
00:27:25,333 --> 00:27:29,773
And there were campaigns to get rid of this tax for decades.

481
00:27:30,593 --> 00:27:34,153
And there were scientific studies were done that proved that the tax

482
00:27:34,593 --> 00:27:37,753
would make you, made you people sick.

483
00:27:38,283 --> 00:27:42,023
And it was contributing to the illness of the nation for decades.

484
00:27:43,080 --> 00:27:50,015
eventually in, 1850 something or 1840 something, 150 years, over

485
00:27:50,015 --> 00:27:54,205
150 years since the tax was first imposed, they finally got rid of it.

486
00:27:54,821 --> 00:27:57,101
But when they got rid of it and they were having their debates

487
00:27:57,171 --> 00:28:02,701
in parliament, they would cry, daylight robbery, daylight robbery.

488
00:28:03,221 --> 00:28:07,471
And that's because in blocking up their windows, people were

489
00:28:07,471 --> 00:28:08,731
being robbed of their daylight.

490
00:28:09,867 --> 00:28:12,927
And that's, so that's where that expression is said to come from.

491
00:28:13,253 --> 00:28:17,103
That's beautiful and tragic at the same time, of course, they should

492
00:28:17,103 --> 00:28:20,723
have just broken the windows because that's good for the economy I hear.

493
00:28:22,068 --> 00:28:24,218
I don't think they had glass windows at that point.

494
00:28:25,255 --> 00:28:27,465
But yeah, you're absolutely right, that's a reference to Bastiat.

495
00:28:28,321 --> 00:28:29,101
Yeah, exactly.

496
00:28:29,651 --> 00:28:33,421
Uh, look it up, people, and like, subscribe, and brush your teeth.

497
00:28:33,705 --> 00:28:37,325
Alright, you might have noticed that we've recently partnered with AmberApp.

498
00:28:37,616 --> 00:28:41,946
After our episode with Izzy, their CEO, and our close friend, we knew we

499
00:28:41,946 --> 00:28:45,350
would have to partner with them in some way, If you haven't seen our episode

500
00:28:45,350 --> 00:28:49,440
with Izzy, definitely go check it out, you'll see why it's such a great fit,

501
00:28:49,690 --> 00:28:53,620
and honestly, they're following the orange glowing light like Izzy always

502
00:28:53,620 --> 00:28:57,710
says, and that's exactly what we try to do here at the Freedom Footprint Show.

503
00:28:58,035 --> 00:29:02,445
The big news about AmberApp is that on Jan 3, 2024, they're going

504
00:29:02,445 --> 00:29:04,445
to be launching their version 2.

505
00:29:04,661 --> 00:29:08,171
I've seen some of the screenshots and it looks fantastic.

506
00:29:08,466 --> 00:29:12,277
They're going to be including a non custodial on chain wallet, an

507
00:29:12,297 --> 00:29:16,549
anonymous lightning wallet, a fiat wallet, And finally, it's going

508
00:29:16,549 --> 00:29:17,889
to be an exchange, of course.

509
00:29:18,129 --> 00:29:21,032
it's going to be just this super app,  They're also going

510
00:29:21,032 --> 00:29:22,382
to be launching globally.

511
00:29:22,402 --> 00:29:23,952
Everyone's going to be able to use it.

512
00:29:24,191 --> 00:29:25,921
we're really excited about all that.

513
00:29:26,051 --> 00:29:28,691
Stay tuned with us and you'll hear all about it.

514
00:29:28,891 --> 00:29:31,241
And for now, check out their website, amber.

515
00:29:31,491 --> 00:29:34,201
app and the episode with Izzy to find out more.

516
00:29:34,508 --> 00:29:36,047
Next up WasabiWallet.

517
00:29:36,287 --> 00:29:39,737
The privacy by default, open source, non custodial Bitcoin

518
00:29:39,737 --> 00:29:41,447
wallet with CoinJoin built in.

519
00:29:42,027 --> 00:29:46,017
It's the easy to use, comprehensive, affordable way to make your coins private.

520
00:29:46,582 --> 00:29:49,592
And the best part is, they've been making huge improvements to the app.

521
00:29:49,902 --> 00:29:52,852
They're really focusing on the user experience, adding advanced

522
00:29:52,962 --> 00:29:55,512
features for power users, they just keep getting better.

523
00:29:56,032 --> 00:29:59,512
You send your coins to your Wasabi wallet, and they get combined with loads of

524
00:29:59,512 --> 00:30:03,632
other coins using the Wabi Sabi protocol, so they're private on the other end.

525
00:30:04,172 --> 00:30:07,682
Your tracks are covered so you can work on expanding your Freedom Footprint

526
00:30:07,832 --> 00:30:09,512
without worrying about your privacy.

527
00:30:10,392 --> 00:30:11,302
So, check out wasabiwallet.

528
00:30:11,302 --> 00:30:14,472
io and download Wasabi today.

529
00:30:14,814 --> 00:30:17,124
yeah, what else can we say about taxes?

530
00:30:17,174 --> 00:30:22,464
Like, what is, in your mind, what's the most stupid tax that

531
00:30:23,034 --> 00:30:25,824
is being extracted from people?

532
00:30:25,994 --> 00:30:30,634
At the moment, well, in the UK to begin with, but in general

533
00:30:30,634 --> 00:30:34,844
also, what's the stupidest tax, the one that does the most harm?

534
00:30:35,657 --> 00:30:38,520
Well, the one that does the most harm is income tax.

535
00:30:38,885 --> 00:30:42,645
and that's responsible for about 50 of government revenue worldwide.

536
00:30:43,407 --> 00:30:44,247
Income tax.

537
00:30:45,197 --> 00:30:49,886
Because, if you're young, and you're starting out with nothing,

538
00:30:50,399 --> 00:30:52,647
all you have is your labour.

539
00:30:53,393 --> 00:30:53,933
And...

540
00:30:54,327 --> 00:30:55,427
We're taxing you.

541
00:30:55,845 --> 00:30:59,575
Over the course of your life, roughly 50 of everything you ever earn will

542
00:30:59,575 --> 00:31:03,415
be taken from you by the government in taxes, excluding inflation.

543
00:31:04,049 --> 00:31:05,679
It's more if you include inflation.

544
00:31:05,979 --> 00:31:06,859
50%.

545
00:31:07,768 --> 00:31:10,233
50 of everything you ever earn is taken from you.

546
00:31:10,653 --> 00:31:15,943
Now the life of the medieval serf was that he gave half his working week

547
00:31:15,973 --> 00:31:19,243
to his lord and the other half of the working week he was allowed to

548
00:31:19,243 --> 00:31:23,793
till his own land, till, till soil himself, or he was given land to till.

549
00:31:24,843 --> 00:31:29,293
So in terms of time allocated 50 percent to your lord and

550
00:31:29,293 --> 00:31:30,613
50 percent you keep yourself.

551
00:31:30,633 --> 00:31:31,603
It's exactly the same.

552
00:31:32,533 --> 00:31:35,753
Obviously, the working conditions are somewhat better because of

553
00:31:35,753 --> 00:31:37,183
technology and all the rest of it.

554
00:31:37,623 --> 00:31:41,193
But nevertheless, 50 percent of your labour is owned.

555
00:31:42,472 --> 00:31:47,592
And if you're a slave, then 100 percent of your labour is owned.

556
00:31:48,327 --> 00:31:49,997
In fact, you don't even own your own body.

557
00:31:51,005 --> 00:31:56,336
And if you're a, you live in a totally anarchist society, then

558
00:31:56,336 --> 00:31:57,566
none of your labor is owned.

559
00:31:58,296 --> 00:32:02,999
And we're at 50 percent in, in the developed world, give or take.

560
00:32:03,768 --> 00:32:09,658
But anyway, because of inflation, obviously assets, we live, we live

561
00:32:09,658 --> 00:32:16,142
in a, in a society where capital is much more valuable, assets are

562
00:32:16,142 --> 00:32:18,082
much more valuable than labor.

563
00:32:19,067 --> 00:32:23,357
You know, with mass migration and all sorts of other things, the price of

564
00:32:23,357 --> 00:32:28,257
labour has been kept down and assets, meanwhile, have inflated in price.

565
00:32:28,977 --> 00:32:35,007
And I think since 1971 in the UK, house prices have gone up 70

566
00:32:35,007 --> 00:32:41,661
times, whereas, salaries have only gone up 22 times, so say 20 times.

567
00:32:42,081 --> 00:32:45,461
So house prices have gone up three and a half times as much as salaries have.

568
00:32:45,821 --> 00:32:46,561
In the UK.

569
00:32:47,081 --> 00:32:50,061
And that's because there's all sorts of reasons for that, but you know,

570
00:32:50,131 --> 00:32:51,831
globalization and all the rest of it.

571
00:32:52,071 --> 00:32:55,821
But if you import lots of cheap labor, then it's, then you're, you're...

572
00:32:56,371 --> 00:32:57,991
You're going to keep labor costs down.

573
00:32:58,466 --> 00:33:02,108
Whereas, you know, you, we create money through debt.

574
00:33:03,078 --> 00:33:05,688
You know, when you, when you issue debt, debt gets created.

575
00:33:05,688 --> 00:33:06,948
We invented the mortgage.

576
00:33:07,208 --> 00:33:08,568
Loads of money gets created.

577
00:33:08,568 --> 00:33:10,258
It goes straight into the housing market.

578
00:33:10,268 --> 00:33:14,194
The more, money there is in a market, the higher prices go.

579
00:33:14,814 --> 00:33:16,864
Uh, and so house prices can inflate.

580
00:33:16,884 --> 00:33:20,324
And then what further inflates house prices is that there's a limit on what can

581
00:33:20,324 --> 00:33:22,424
get built because of planning regulations.

582
00:33:23,304 --> 00:33:25,584
So we've created this world where.

583
00:33:26,829 --> 00:33:30,139
Houses go up at three and a half times the rate of salaries,

584
00:33:30,589 --> 00:33:34,179
and we wonder why there's such inequality between generations.

585
00:33:34,829 --> 00:33:37,129
And we wonder why the younger generation is so nihilistic.

586
00:33:37,819 --> 00:33:40,759
Well, they can't start a family because they can't afford a fucking house.

587
00:33:41,774 --> 00:33:43,124
But it's not just that.

588
00:33:43,234 --> 00:33:49,737
Not only Have we got this society that's geared around asset ownership?

589
00:33:50,441 --> 00:33:56,401
We tax people on their labour heavily and constantly.

590
00:33:57,381 --> 00:34:00,561
Just constantly, your money, that half of your labour's being taken.

591
00:34:00,911 --> 00:34:07,155
So not only are asset prices rising, You're working to get an asset and

592
00:34:07,155 --> 00:34:09,415
it's just getting further and further out of reach because the money you're

593
00:34:09,445 --> 00:34:12,215
paid in is being taken from you.

594
00:34:12,725 --> 00:34:16,395
And then on top of that, the money you're being paid in loses value

595
00:34:16,395 --> 00:34:18,345
anyway to inflation because it's fiat.

596
00:34:19,425 --> 00:34:21,475
And so it's just like a triple whammy.

597
00:34:23,051 --> 00:34:28,880
Like it, totally fucks the young and we wonder why we've created this

598
00:34:28,880 --> 00:34:33,572
culture where kids just want to go around and into an art gallery and you

599
00:34:33,572 --> 00:34:38,312
know, throw oil at paintings and, stop capitalism and all the rest of it.

600
00:34:38,312 --> 00:34:41,502
can you blame them for having such a nihilistic view when they've

601
00:34:41,502 --> 00:34:44,152
literally got no stake in society because they can't buy a house.

602
00:34:44,771 --> 00:34:48,831
No, they never experienced capitalism, and neither has anyone else.

603
00:34:49,341 --> 00:34:53,011
Uh, so that wasn't real capitalism.

604
00:34:53,011 --> 00:34:54,051
That should be a slogan.

605
00:34:54,812 --> 00:34:58,132
I mean, I I'd say like, uh, so.

606
00:34:58,207 --> 00:35:04,357
So, capital gains taxes, or taxes on profits, like the example I love to give

607
00:35:04,357 --> 00:35:08,037
is, uh, if you have, like, what is profit?

608
00:35:08,107 --> 00:35:11,687
It's that you provide your good or service to more people

609
00:35:11,687 --> 00:35:12,847
and therefore you earn more.

610
00:35:13,147 --> 00:35:17,607
So like, if you have an apple farmer who has one apple tree, he can

611
00:35:17,607 --> 00:35:19,567
sell apples to X amount of people.

612
00:35:20,652 --> 00:35:25,132
If, if the business is successful, he can afford to buy a second

613
00:35:25,132 --> 00:35:29,792
apple tree the second year to to feed the double amount of people.

614
00:35:30,052 --> 00:35:34,632
The third year, four apple trees and the fourth year, eight apple trees.

615
00:35:34,642 --> 00:35:41,242
So it's exponential growth, which simply cannot happen If you tax people 50 percent

616
00:35:41,252 --> 00:35:43,132
because they never get to the second tree.

617
00:35:43,652 --> 00:35:49,312
So I think that's, that's, uh, and people think like taxing the rich is always okay.

618
00:35:49,712 --> 00:35:53,692
But this is what that does in my, uh, in my mind, at least you

619
00:35:53,692 --> 00:35:54,992
you're missing out on this all.

620
00:35:55,432 --> 00:35:58,592
compound effects and exponential growth that could have happened.

621
00:35:58,902 --> 00:36:02,152
And that's impossible to see because you're living in the, in

622
00:36:02,152 --> 00:36:03,532
the timeline you're living in.

623
00:36:03,542 --> 00:36:05,602
So you never see the alternative cost.

624
00:36:05,602 --> 00:36:09,972
And that's, I think that the fact that you can't see what isn't

625
00:36:09,972 --> 00:36:13,392
there is, is what makes people fall for it over and over again.

626
00:36:13,710 --> 00:36:17,070
you have to tax capital and labour equally.

627
00:36:17,600 --> 00:36:21,750
And if you don't, then one will acquire greater value than the other.

628
00:36:22,440 --> 00:36:23,550
And we don't tax wealth.

629
00:36:24,230 --> 00:36:26,160
I'm not saying we should tax wealth, by the way.

630
00:36:26,680 --> 00:36:28,730
We don't tax wealth, but we do tax labour.

631
00:36:29,220 --> 00:36:34,330
And so it's inevitable that you have an, uh, uh, uh, inequality as a result.

632
00:36:35,140 --> 00:36:40,460
It just, like, the tax system causes wealth inequality.

633
00:36:40,940 --> 00:36:42,120
That's what people don't understand.

634
00:36:42,380 --> 00:36:44,920
It's supposed to be there to equalize life chances.

635
00:36:45,090 --> 00:36:46,740
It has the reverse effect.

636
00:36:46,760 --> 00:36:49,330
It causes wealth inequality.

637
00:36:49,330 --> 00:36:49,585
Yeah,

638
00:36:49,649 --> 00:36:54,489
this ties in so well to a very interesting observation I heard about blockchain

639
00:36:55,949 --> 00:37:01,509
statistics, like the Glassnode data, which is showing that Bitcoin addresses

640
00:37:01,509 --> 00:37:03,629
with one Bitcoin or less in them.

641
00:37:03,854 --> 00:37:08,544
are growing in numbers, while bitcoin addresses with 10, 000 bitcoins or

642
00:37:08,554 --> 00:37:10,924
more in them are shrinking in numbers.

643
00:37:11,307 --> 00:37:17,957
and if you do the quite plausible assumption that many of these

644
00:37:17,957 --> 00:37:22,597
addresses are just people trying to accumulate a whole bitcoin, like many

645
00:37:22,597 --> 00:37:26,067
people have, there's like a million addresses with one bitcoin in them.

646
00:37:26,332 --> 00:37:30,202
And there probably can never be two million addresses with one Bitcoin in them

647
00:37:30,512 --> 00:37:32,562
because it's just not enough Bitcoins.

648
00:37:32,932 --> 00:37:37,332
But the thing that it's doing is that it's actually redistributing wealth by doing

649
00:37:37,332 --> 00:37:42,962
the very opposite of what those claiming to be redistributing wealth are doing.

650
00:37:43,422 --> 00:37:44,252
So by doing the exact...

651
00:37:45,332 --> 00:37:50,652
Inverse of what a wealth redistribution scheme would do.

652
00:37:51,042 --> 00:37:52,772
You actually redistribute the wealth.

653
00:37:53,492 --> 00:37:55,662
And I find that insanely fascinating.

654
00:38:00,861 --> 00:38:03,471
I don't know, but we, uh, we could look it up somehow.

655
00:38:03,651 --> 00:38:07,801
Uh, well, most of the wealth are in this big whale addresses.

656
00:38:08,061 --> 00:38:08,431
So...

657
00:38:08,826 --> 00:38:09,716
That's still the thing.

658
00:38:09,716 --> 00:38:14,176
But the thing with Bitcoin is that there's no other way of getting any

659
00:38:14,176 --> 00:38:19,176
usage out of those Bitcoins than to spend them and buy stuff from other people.

660
00:38:19,186 --> 00:38:23,846
Like you can't leverage the system in any other way, maybe in this transitional

661
00:38:23,856 --> 00:38:28,286
phase that you can, you know, uh, manipulate the market a bit and sell off

662
00:38:28,366 --> 00:38:33,136
and buy at a cheaper price, but that gets harder and harder every time you try it.

663
00:38:33,211 --> 00:38:36,661
Because the market won't fall for it next time, uh, as hard.

664
00:38:36,981 --> 00:38:43,571
So, so it's, it's very interesting to see how like a very pure free market with

665
00:38:43,571 --> 00:38:48,791
sound money is just doing, it's getting the results that the socialists claim

666
00:38:48,791 --> 00:38:51,771
they want by doing the exact opposite.

667
00:38:52,153 --> 00:38:54,253
Yeah, I heard an argument the other day.

668
00:38:54,293 --> 00:38:57,553
Somebody was saying Bitcoin causes inflation because

669
00:38:57,553 --> 00:38:58,753
the price keeps going up.

670
00:39:00,913 --> 00:39:05,703
So people keep, so people are, so people are taking on debt or whatever to, to

671
00:39:05,703 --> 00:39:09,203
buy it and they're creating money and therefore it is causing inflation.

672
00:39:09,689 --> 00:39:12,579
Well, yeah, I hope it keeps on doing that.

673
00:39:12,799 --> 00:39:14,629
So people, more and more people wake up.

674
00:39:15,394 --> 00:39:22,744
So, in my book, Bitcoin the Future of Money, which I wrote in 2013 2014, I

675
00:39:22,744 --> 00:39:29,169
wanted to be the guy who discovered who Satoshi was, and I devoted probably almost

676
00:39:29,169 --> 00:39:32,289
half the book to figuring out who he was.

677
00:39:32,699 --> 00:39:33,039
you know.

678
00:39:33,979 --> 00:39:40,903
I spent hours reading the cypherpunk, mailing list from the late 90s

679
00:39:41,173 --> 00:39:47,418
through to about 2005, trying to find signs and clues, and, you know,

680
00:39:47,418 --> 00:39:51,294
it was really hard to figure out, there's only a handful of people

681
00:39:51,294 --> 00:39:56,184
that it can have been, because of the extraordinary knowledge that's required.

682
00:39:56,804 --> 00:39:59,394
It's not just, you need an extraordinary breadth of knowledge.

683
00:40:01,044 --> 00:40:06,994
But it's also an extraordinarily specific knowledge at the heart of mathematics,

684
00:40:07,444 --> 00:40:15,544
cryptography, monetary history, law, even things like databases, c plus plus coding.

685
00:40:15,724 --> 00:40:20,074
You know, there's just this bizarrely specific knowledge, but you all, and

686
00:40:20,164 --> 00:40:24,994
PR like Satoshi must be, if nothing else, he's the greatest PR genius ever.

687
00:40:25,914 --> 00:40:28,199
And so I was trying to figure out.

688
00:40:28,759 --> 00:40:29,419
Who it was.

689
00:40:29,489 --> 00:40:35,414
And, and so I love just sitting around with Bitcoiners, talking into the early

690
00:40:35,414 --> 00:40:38,634
hours about who it, who it might've been and why it might've been this

691
00:40:38,634 --> 00:40:40,104
guy and why it might've been that guy.

692
00:40:40,774 --> 00:40:44,084
In fact, I was just in New Orleans last week and I was having this, I

693
00:40:44,084 --> 00:40:47,634
was sat there with Lynn Alden and we both had a few glasses of wine and

694
00:40:47,634 --> 00:40:52,079
we were just sat there, you know, discussing who Satoshi might've been.

695
00:40:52,583 --> 00:40:56,993
Anyway, I was having the same conversation at Michael Saylor's house in Miami.

696
00:40:57,023 --> 00:40:59,353
Do you remember that evening, Knut, when we went to Michael

697
00:40:59,408 --> 00:41:00,198
Yeah, yeah.

698
00:41:00,198 --> 00:41:04,498
We, we, uh, we had a Wagyu Tomahawks and talked about who Satoshi was.

699
00:41:04,558 --> 00:41:05,368
It was great fun.

700
00:41:05,869 --> 00:41:11,136
And there was this dude sat on my right, and I still, I've forgotten his name.

701
00:41:11,136 --> 00:41:12,356
I exchanged emails with him.

702
00:41:12,935 --> 00:41:15,645
at one point we were going, you know, I think it was Nick Szabo

703
00:41:15,695 --> 00:41:18,105
because of there, and I think it's Hal Finnegan because of there, and I

704
00:41:18,135 --> 00:41:19,275
think it's this guy because of there.

705
00:41:19,765 --> 00:41:23,365
And, and he just went, Well...

706
00:41:23,949 --> 00:41:26,129
It might have been put there by aliens.

707
00:41:26,904 --> 00:41:27,764
and I was like, what?

708
00:41:28,354 --> 00:41:31,034
And he said, yeah, maybe it was from God or from another planet.

709
00:41:31,834 --> 00:41:33,464
And, and I was like,

710
00:41:35,641 --> 00:41:43,101
Yeah, it's like the most plausible explanation as to, as, nobody could

711
00:41:43,101 --> 00:41:45,921
have done, there just wasn't anyone who was clever enough to invent

712
00:41:45,921 --> 00:41:49,051
something that brilliant that's had this impact and got this potential.

713
00:41:49,401 --> 00:41:53,101
And he was saying aliens put it there to give mankind a chance of saving itself.

714
00:41:53,581 --> 00:41:56,441
And I was literally like, that's the best explanation I've heard.

715
00:41:56,951 --> 00:41:58,931
And I wish I'd thought of that when I was writing the book.

716
00:41:59,531 --> 00:42:02,221
Correct me if I'm wrong, but you're alluding to Satoshi

717
00:42:02,251 --> 00:42:03,631
being a lizard here, aren't you?

718
00:42:04,464 --> 00:42:09,394
Uh, no, no, he, uh, he wasn't Illuminati, Satoshi wasn't Illuminati

719
00:42:09,394 --> 00:42:10,904
because the Illuminati are all evil.

720
00:42:12,044 --> 00:42:12,304
So.

721
00:42:13,429 --> 00:42:19,309
So Satoshi was, yeah, Satoshi was, no, there's no such thing as a good lizard.

722
00:42:20,127 --> 00:42:23,787
You know what my favorite, favorite, like, like, favorite

723
00:42:24,017 --> 00:42:25,867
thing to imagine Satoshi was?

724
00:42:26,398 --> 00:42:32,277
Uh, just to pop a hole in all this, uh, uh, devout, devout

725
00:42:32,307 --> 00:42:33,817
Christian view of who it was.

726
00:42:33,827 --> 00:42:39,817
So, uh, the, uh, American conservatives want to paint this picture of Satoshi

727
00:42:39,847 --> 00:42:44,027
as this, uh, messianic figure and the second coming of Christ and whatnot.

728
00:42:44,607 --> 00:42:51,167
So, what if it's a guy in Finland who loves death metal and had eight abortions?

729
00:42:51,327 --> 00:42:54,007
Like, that would be something, I think.

730
00:42:54,382 --> 00:42:54,902
what's his name?

731
00:42:54,902 --> 00:42:57,032
Martti Martti Malmo whatever his

732
00:42:57,127 --> 00:42:57,467
Uh, yeah,

733
00:42:59,249 --> 00:43:00,479
That is a deep reference.

734
00:43:00,539 --> 00:43:01,729
Yes, shout out Martti

735
00:43:02,343 --> 00:43:07,303
( no, but I, I kind of love the thought of Satoshi being someone completely

736
00:43:07,303 --> 00:43:12,243
different than we think it is, like, because, because of the, the wonderful

737
00:43:12,243 --> 00:43:16,093
irony and, but imagine, and I do think

738
00:43:16,209 --> 00:43:16,519
Yeah.

739
00:43:16,933 --> 00:43:20,983
Like, I think it's very, I think it's very plausible that he's dead.

740
00:43:21,385 --> 00:43:25,065
he's, he's, he's drinking, he's taken to the streets and he's drunk because he's

741
00:43:25,065 --> 00:43:27,420
got several billion dollars worth of.

742
00:43:28,010 --> 00:43:30,960
Bitcoins, and he can't get his hands on them because he's lost his seed phrase,

743
00:43:31,360 --> 00:43:34,210
and he's just sat there screaming at people who walk past him, I'm Satoshi

744
00:43:34,410 --> 00:43:37,180
Nakamoto, and nobody believes him.

745
00:43:40,288 --> 00:43:41,088
I think he's dead.

746
00:43:41,658 --> 00:43:48,994
Yeah, because like that level of commitment for that many years, well, uh,

747
00:43:50,174 --> 00:43:56,004
and I think this is also, uh, uh, uh, an interesting subject because I see a risk

748
00:43:56,284 --> 00:44:01,254
with painting this picture of Satoshi as this messianic figure and this superhero,

749
00:44:01,284 --> 00:44:09,232
this superhuman, like putting him on a pedestal, Has the risk of, you know,

750
00:44:09,242 --> 00:44:14,157
making him into this, like people could use that in the future that could lead

751
00:44:14,157 --> 00:44:19,137
to another Prince Charles or King Charles at some point, you know, there's, you see

752
00:44:19,137 --> 00:44:26,997
what I mean, like this, when people think that other human beings are So excellent.

753
00:44:27,007 --> 00:44:31,517
So they're worthy of something like it becomes the Dalai Lama.

754
00:44:31,517 --> 00:44:36,667
And then he can go and, uh, um, you know, make out with 14 year old boys

755
00:44:36,687 --> 00:44:39,587
without people noticing until too late.

756
00:44:39,587 --> 00:44:44,067
And then like, or the Pope or whatever, like these, these

757
00:44:44,077 --> 00:44:50,587
figureheads of organizations that aren't necessarily good for humanity.

758
00:44:50,587 --> 00:44:53,717
Like, I think no one should be put on a pedestal like that.

759
00:44:53,888 --> 00:44:59,058
I take your point, but it's slightly different with him because he's faceless.

760
00:44:59,896 --> 00:45:00,856
yeah, yeah.

761
00:45:00,991 --> 00:45:03,261
Is more holy ghosts than Jesus Christ.

762
00:45:03,261 --> 00:45:03,517
I

763
00:45:03,589 --> 00:45:06,149
Yeah, yeah, I buy that.

764
00:45:06,259 --> 00:45:11,719
I just think that's a, it's probably not a lizard or an alien

765
00:45:11,719 --> 00:45:13,029
or God or anything like that.

766
00:45:13,029 --> 00:45:15,429
It's probably a guy in a basement somewhere.

767
00:45:16,214 --> 00:45:21,754
and that guy may not agree with anything that the people who put him

768
00:45:21,754 --> 00:45:23,294
on a pedestal are saying about him.

769
00:45:23,864 --> 00:45:26,834
So, so that's, that's what I, that's what I find.

770
00:45:26,844 --> 00:45:31,884
Like, I see a risk there that I never, I never hear people talk about that.

771
00:45:33,207 --> 00:45:38,977
get, I think there's often a lot of crossover between invention and

772
00:45:38,977 --> 00:45:44,489
discovery and a lot of the time when you discover something, people say you

773
00:45:44,489 --> 00:45:48,849
invented it and you're like, no, like, did, did somebody invent the wheel?

774
00:45:49,149 --> 00:45:50,469
Or did they discover the wheel?

775
00:45:51,599 --> 00:45:55,588
Did somebody, you know, you could say the same about antibiotics

776
00:45:55,588 --> 00:45:57,928
or the engine or anything.

777
00:45:58,698 --> 00:46:03,548
Now, did wheat, did mankind invent wheat?

778
00:46:03,948 --> 00:46:05,568
Did mankind invent paper?

779
00:46:06,358 --> 00:46:07,388
Or did we discover it?

780
00:46:08,183 --> 00:46:10,963
Well, we domesticated us and not the other way around.

781
00:46:11,529 --> 00:46:17,169
Well, exactly, but I mean, it's still, whatever it is, that grass, we, is, is,

782
00:46:17,729 --> 00:46:20,179
it's been important to our evolution.

783
00:46:21,239 --> 00:46:25,869
But, you know, a lot of, a lot of invention happens quite accidentally.

784
00:46:26,483 --> 00:46:29,593
Alexander Fleming discovered penicillin because he didn't

785
00:46:29,593 --> 00:46:30,963
clear up his desk properly.

786
00:46:31,594 --> 00:46:35,864
Yeah, he would have never done so if he had listened to Jordan Peterson, in

787
00:46:36,029 --> 00:46:36,909
Yeah, exactly.

788
00:46:36,919 --> 00:46:37,359
There you go.

789
00:46:39,029 --> 00:46:42,829
Um, you know, Christopher Columbus discovered America,

790
00:46:43,576 --> 00:46:44,776
but he wasn't looking for it.

791
00:46:44,786 --> 00:46:50,176
He was looking for a route to India and China, wasn't he?

792
00:46:51,076 --> 00:46:53,426
You know, America happened by accident.

793
00:46:54,214 --> 00:46:55,034
That's a quote.

794
00:46:55,664 --> 00:46:56,124
yeah,

795
00:46:56,614 --> 00:46:57,694
happened by accident.

796
00:46:58,134 --> 00:47:03,674
the, the, the Basque, the Basque fishermen knew about America because they were going

797
00:47:03,674 --> 00:47:06,264
up, they were going, they were catching a wind at a certain time of year and

798
00:47:06,274 --> 00:47:09,634
going up there and fishing for cod and bringing back the cod and selling it into

799
00:47:09,634 --> 00:47:12,934
European markets and they knew it was there and they were, it was, they kept it

800
00:47:12,934 --> 00:47:14,214
a secret because it was their business.

801
00:47:15,634 --> 00:47:20,054
And, um, so yeah, the, uh, Columbus should have done the same.

802
00:47:20,054 --> 00:47:21,774
It would have been much better for the history of the world.

803
00:47:22,204 --> 00:47:23,274
But anyway, that was it.

804
00:47:24,967 --> 00:47:29,407
but in any case, so much of invention is, is accidental.

805
00:47:30,917 --> 00:47:37,469
I think the guy who invented plastic was a Danish, hobby inventor.

806
00:47:37,809 --> 00:47:40,359
And he was trying to find a way that, because at the time they, to

807
00:47:40,359 --> 00:47:42,889
insulate wire, they would use...

808
00:47:43,109 --> 00:47:45,829
Crushed beetles.

809
00:47:47,139 --> 00:47:49,809
They would use something made out of crushed beetles and it was a certain type

810
00:47:49,809 --> 00:47:52,669
of crushed beetle you could only get it in China or something stupid like that.

811
00:47:53,049 --> 00:47:57,429
And so he was looking for a way to insulate wires that was cheaper than

812
00:47:57,429 --> 00:48:03,402
these crushed beetles and that's how We got plastic, the uses of plastic

813
00:48:03,422 --> 00:48:06,842
way exceed insulating electric wire.

814
00:48:08,302 --> 00:48:13,502
And it might be that with Bitcoin, you know, so many things have just fallen into

815
00:48:13,502 --> 00:48:19,522
place with, with Bitcoin, even like what you were describing with the distribution

816
00:48:19,522 --> 00:48:23,722
of the coins from the Wales to the, the increasing one Bitcoin addresses and

817
00:48:23,722 --> 00:48:25,812
the falling 10, 000 Bitcoin addresses.

818
00:48:26,839 --> 00:48:34,740
so maybe, A lot of what's happened with Bitcoin is not invention, it's discovery,

819
00:48:35,704 --> 00:48:36,154
Yeah,

820
00:48:36,490 --> 00:48:42,530
a lot of it wasn't planned, it's just worked out that way because of the

821
00:48:42,570 --> 00:48:47,160
bandwagon that the invention has created and the number of geniuses that have

822
00:48:47,160 --> 00:48:53,480
been, like, one of the reasons I advocate owning Bitcoin is that you are leveraging

823
00:48:53,660 --> 00:48:56,950
the combined IQ of the Bitcoin community.

824
00:48:57,500 --> 00:48:59,410
And it's a very high combined IQ.

825
00:48:59,440 --> 00:49:01,190
There's a lot of very clever people in Bitcoin.

826
00:49:01,574 --> 00:49:02,484
at least 80.

827
00:49:02,584 --> 00:49:02,934
Yeah.

828
00:49:04,260 --> 00:49:05,170
But do you know what I mean?

829
00:49:05,290 --> 00:49:08,540
Whereas, you know, if I compare Bitcoin to mining or something, the

830
00:49:08,540 --> 00:49:10,410
IQ levels, just, they're not the same.

831
00:49:10,885 --> 00:49:13,975
There are some very clever people in mining and there's some brilliant

832
00:49:14,025 --> 00:49:17,115
promoters and there are some brilliant geologists and so on.

833
00:49:18,425 --> 00:49:21,955
They're not like super computer technical geniuses like you

834
00:49:21,955 --> 00:49:24,225
find in, in crypto, in Bitcoin.

835
00:49:24,714 --> 00:49:26,854
and, and, you know, but that combined IQ is.

836
00:49:27,264 --> 00:49:30,774
is helped make things work and just guided it in a certain way.

837
00:49:31,404 --> 00:49:37,904
So yeah, so maybe he just stumbled across something, uh, worked out, you know,

838
00:49:37,904 --> 00:49:41,924
solved the Byzantine Generals problem, solved the problem of double spending

839
00:49:41,924 --> 00:49:45,984
with, with the blockchain, and then everything just literally snowballed from

840
00:49:45,984 --> 00:49:48,874
there, and it wasn't planned, it's just...

841
00:49:49,339 --> 00:49:54,789
He, he opened the portal, he opened the Pandora's box, and everything else has

842
00:49:54,789 --> 00:49:58,537
just happened because it was going to happen as soon as that portal was opened.

843
00:49:59,043 --> 00:50:00,473
I think this is very plausible.

844
00:50:01,033 --> 00:50:02,573
Like, something like that.

845
00:50:02,943 --> 00:50:05,693
And it's, it's, I wrote about it in one of my books, like, it's one

846
00:50:05,693 --> 00:50:10,143
of the most quoted passages from it, like, uh, absolute mathematical

847
00:50:10,143 --> 00:50:16,663
scarcity and a, uh, sufficiently distributed decentralized network was

848
00:50:16,663 --> 00:50:18,583
a discovery rather than an invention.

849
00:50:18,853 --> 00:50:23,166
It could only be discovered once, since, the very thing discovered was

850
00:50:23,206 --> 00:50:25,286
resistance to replicability itself.

851
00:50:26,116 --> 00:50:31,066
So, uh, what I'm trying to say with that is that it was more akin to the discovery

852
00:50:31,066 --> 00:50:36,344
of the Americas than, or the discovery of the wheel, since you can only do

853
00:50:36,344 --> 00:50:42,264
that once, it, you can't repeat the, the thing and another, another point about

854
00:50:42,325 --> 00:50:45,765
yeah, like the guys who invented the wheel, they didn't know we were

855
00:50:45,765 --> 00:50:50,165
going to have these four wheeled Formula One cars that can drive at

856
00:50:50,165 --> 00:50:54,885
300 miles per hour and, and, you know, will be using wheels to take off

857
00:50:54,885 --> 00:50:56,375
and fly around the world and stuff.

858
00:50:56,645 --> 00:50:57,415
They didn't know that.

859
00:50:57,860 --> 00:51:01,920
They were just trying to find a way of getting their, you know, their, their,

860
00:51:01,940 --> 00:51:05,620
whatever it was, their, their plants from the field to the house or whatever it was.

861
00:51:06,148 --> 00:51:06,408
Yeah.

862
00:51:06,408 --> 00:51:12,458
And, uh, first time I was in Mexico, we, we went And to see, uh, some of these old

863
00:51:12,468 --> 00:51:16,480
Maya, cities like Uxmal for, for instance.

864
00:51:16,940 --> 00:51:19,910
And the funny thing I learned about the Maya culture is

865
00:51:19,950 --> 00:51:23,300
that they had rotating tables.

866
00:51:23,440 --> 00:51:27,820
So they had the circular shape was everywhere, but they never for

867
00:51:27,850 --> 00:51:31,950
thousands of years figured out that they could put them vertically instead of

868
00:51:31,950 --> 00:51:34,830
horizontally and thereby roll stuff on.

869
00:51:35,670 --> 00:51:43,220
So, so they had sleds just carrying a fucking sushi table, a big, big

870
00:51:43,570 --> 00:51:45,750
granite rock for a sushi table.

871
00:51:45,930 --> 00:51:48,050
So they knew how to spin it around.

872
00:51:48,060 --> 00:51:50,900
They knew how to make circular things, but they never put them

873
00:51:50,900 --> 00:51:52,840
vertically for thousands of years.

874
00:51:53,220 --> 00:51:55,180
And that's, that's just mind blowing to me.

875
00:51:55,210 --> 00:51:57,940
So like, what, what are we doing today?

876
00:51:57,970 --> 00:52:01,380
What are we missing that is absolutely obvious in hindsight?

877
00:52:01,610 --> 00:52:04,790
Like, that's what, that's the thought that, uh, um.

878
00:52:05,025 --> 00:52:05,875
Wakes in me.

879
00:52:06,306 --> 00:52:10,346
Yeah, I had a, I heard a good conversation about something similar.

880
00:52:11,076 --> 00:52:15,896
They were saying, um, you know, for years we carried bags, we carried our

881
00:52:15,896 --> 00:52:19,376
suitcases, and then somebody occurred to somebody to stick wheels on the bottom,

882
00:52:19,736 --> 00:52:21,646
and we all started wheeling our suitcases.

883
00:52:22,126 --> 00:52:24,886
And then suddenly every suitcase now has got wheels on it.

884
00:52:25,256 --> 00:52:25,886
And you're like...

885
00:52:26,311 --> 00:52:28,531
What were we doing before?

886
00:52:28,541 --> 00:52:31,191
Why did it take us so long to put a wheel on a suitcase?

887
00:52:31,631 --> 00:52:37,161
And, and the question is, what are the, what's something blindingly obvious that

888
00:52:37,161 --> 00:52:38,831
needs to be done that nobody's doing?

889
00:52:39,011 --> 00:52:41,331
I can think of loads of things at the government level.

890
00:52:42,066 --> 00:52:42,906
Absolutely.

891
00:52:42,956 --> 00:52:45,106
Like why are we with Texas?

892
00:52:45,126 --> 00:52:45,436
It's a

893
00:52:45,551 --> 00:52:47,091
Yeah, well, there you go.

894
00:52:47,131 --> 00:52:52,341
But, but in terms of practical levels of things around us and ways of doing things.

895
00:52:52,876 --> 00:52:53,696
Yeah, I'm not sure.

896
00:52:54,120 --> 00:52:56,320
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fund today.

936
00:54:46,159 --> 00:54:50,429
I just bought a load of silver Britannias and uh, they're sitting on my desk.

937
00:54:50,429 --> 00:54:51,389
I haven't opened them yet.

938
00:54:52,129 --> 00:54:53,599
Do you want to see a silver Britannia?

939
00:54:54,004 --> 00:54:54,844
absolutely.

940
00:54:54,954 --> 00:54:56,334
What is that a shit coin?

941
00:54:57,191 --> 00:55:01,331
The reason why gold and silver bugs hate Bitcoin so much is that it did

942
00:55:01,331 --> 00:55:03,321
everything that silver was supposed to do.

943
00:55:03,411 --> 00:55:04,101
You know,

944
00:55:04,237 --> 00:55:07,607
that's why, you know, they, they had the, they had the right

945
00:55:07,637 --> 00:55:09,017
argument, but the wrong vehicle,

946
00:55:09,443 --> 00:55:11,833
Why were they convinced that silver would do that?

947
00:55:11,971 --> 00:55:14,161
because silver had a, has a history of money.

948
00:55:14,191 --> 00:55:17,731
It's incredibly undervalued relative to gold.

949
00:55:18,521 --> 00:55:19,911
Oh, I've got King Charles.

950
00:55:19,911 --> 00:55:22,481
I've got King Charles Silver Britannias.

951
00:55:23,427 --> 00:55:24,367
Pound sterling.

952
00:55:24,743 --> 00:55:28,143
there you go, I'm going to hold it up to the camera, and there you

953
00:55:28,143 --> 00:55:32,013
can see King Charles Britannia's,

954
00:55:32,559 --> 00:55:32,989
All right.

955
00:55:32,999 --> 00:55:34,569
It looks a bit like the Swedish Krona.

956
00:55:35,764 --> 00:55:38,794
yeah, and that's the silver, that's the silver ounce, that would have

957
00:55:38,814 --> 00:55:44,784
been um, there's Britannia, the goddess Britannia who rules the

958
00:55:44,784 --> 00:55:51,844
waves, and there's King Charles, he is such a knobhead, but anyway.

959
00:55:52,797 --> 00:55:55,487
I'm neither a monarchist nor an anti monarchist, but I know

960
00:55:55,487 --> 00:55:56,687
a knobhead when I see one.

961
00:55:57,042 --> 00:56:03,442
Do you know, how many, how many, uh, pounds would you have to pay for

962
00:56:03,442 --> 00:56:05,392
a pound of sterling silver today?

963
00:56:06,225 --> 00:56:08,505
Uh, how many ounces in a pound,

964
00:56:09,287 --> 00:56:09,677
I don't know.

965
00:56:09,677 --> 00:56:12,277
You are the one that refused the metric system.

966
00:56:13,430 --> 00:56:20,120
I'll have this argument with you, because this is what's blighted Europe, and the

967
00:56:20,120 --> 00:56:25,874
metric system is a form of tyranny, and it bears no relevance to the real world.

968
00:56:26,095 --> 00:56:26,335
Yes,

969
00:56:26,385 --> 00:56:28,125
probably invented by lizards.

970
00:56:28,125 --> 00:56:29,128
Yeah.

971
00:56:29,128 --> 00:56:31,135
No, we,

972
00:56:34,925 --> 00:56:35,455
explain,

973
00:56:37,595 --> 00:56:39,975
we know, we know what the French have worse

974
00:56:40,070 --> 00:56:42,680
Hey Siri, how many ounces in a pound?

975
00:56:42,680 --> 00:56:42,960
There's

976
00:56:45,843 --> 00:56:47,513
16 ounces in a pound.

977
00:56:48,703 --> 00:56:49,643
Makes perfect sense.

978
00:56:50,668 --> 00:56:55,618
Hey Siri, how much is an ounce of silver in pounds?

979
00:56:55,618 --> 00:56:56,994
Is what I found.

980
00:56:56,994 --> 00:56:57,338
So

981
00:56:59,835 --> 00:57:01,685
an ounce of silver is about 20 quid.

982
00:57:02,335 --> 00:57:03,325
So it's not that bad.

983
00:57:03,395 --> 00:57:06,815
160, 16 times 20,

984
00:57:07,525 --> 00:57:08,555
3, 200.

985
00:57:08,840 --> 00:57:13,339
yeah, 3, 200, not 320.

986
00:57:13,949 --> 00:57:14,859
Knut is good at math.

987
00:57:14,879 --> 00:57:15,999
It's 320.

988
00:57:16,074 --> 00:57:17,434
Uh, 320, of course.

989
00:57:17,554 --> 00:57:17,944
Sorry.

990
00:57:18,225 --> 00:57:24,075
Yeah, so 320 is, a pound of sterling silver would be 320 pounds, so

991
00:57:24,075 --> 00:57:27,905
that's not that bad really when you think about it, but, but that's

992
00:57:27,905 --> 00:57:29,685
because silver's just so undervalued.

993
00:57:30,599 --> 00:57:31,959
how did that happen exactly?

994
00:57:31,959 --> 00:57:36,969
Let's get back to the metric thing, but why is silver so undervalued exactly?

995
00:57:36,969 --> 00:57:40,139
Is it the relation of the supply of silver and the supply

996
00:57:40,139 --> 00:57:41,009
of gold, something like that?

997
00:57:41,154 --> 00:57:45,304
Well, once silver used to be money, so it was very desirable because it

998
00:57:45,304 --> 00:57:47,864
was money, and it's lost that role.

999
00:57:48,174 --> 00:57:51,484
I think the words silver and money are interchangeable in like a hundred

1000
00:57:51,494 --> 00:57:56,744
different languages, argent in French, plata in Spanish, silver, sterling silver.

1001
00:57:57,164 --> 00:58:04,464
Um, Um, and there's 15 times as much silver in the Earth's

1002
00:58:04,554 --> 00:58:05,994
crust as there is gold.

1003
00:58:06,424 --> 00:58:06,714
Yeah.

1004
00:58:06,714 --> 00:58:08,254
So it's a stock to flow ratio.

1005
00:58:08,416 --> 00:58:13,246
Yeah, and the historic ratio, one, one, uh, you could get one

1006
00:58:13,246 --> 00:58:16,476
gold coin for 15 silver coins and that was throughout history.

1007
00:58:16,776 --> 00:58:21,316
But now the ratio between the two is like 90, 80 or 90.

1008
00:58:21,696 --> 00:58:28,391
And um, It's mainly because silver's now produced as a by product of zinc and

1009
00:58:28,391 --> 00:58:33,821
lead mining mostly, and it's just sold, they just sell it without trying to get

1010
00:58:33,821 --> 00:58:37,981
the best price for it, and there's also a lot of rumour about the silver price

1011
00:58:37,981 --> 00:58:43,291
being manipulated down, I'm not sure if that's true or not, but um, yeah,

1012
00:58:43,361 --> 00:58:45,701
it's, that's, that's historically why.

1013
00:58:46,556 --> 00:58:47,036
Okay.

1014
00:58:47,266 --> 00:58:48,376
So let's unpack this.

1015
00:58:48,406 --> 00:58:53,326
So, so silver is worse than gold because of the, uh, stock to flow ratio.

1016
00:58:53,856 --> 00:58:57,766
Uh, and you say that, uh, a pound of sterling silver today

1017
00:58:57,766 --> 00:58:59,276
would cost you 32 pounds.

1018
00:58:59,721 --> 00:59:01,481
Uh, 320.

1019
00:59:02,861 --> 00:59:03,351
Uh, yeah, yeah.

1020
00:59:03,881 --> 00:59:09,411
Uh, yes, this is why I wrote a book with mathematics in the title.

1021
00:59:09,661 --> 00:59:17,781
Anyway, um, that means that's the money printing since the term pound

1022
00:59:17,791 --> 00:59:20,261
sterling was invented or discovered.

1023
00:59:20,301 --> 00:59:24,021
Like, I think a pound sterling, it's one of the oldest, if not the

1024
00:59:24,021 --> 00:59:25,591
oldest currency in the world, right?

1025
00:59:25,941 --> 00:59:27,301
Yeah, still in use, yeah.

1026
00:59:27,681 --> 00:59:31,771
Yeah, uh, but was it a pound of sterling silver you could, you

1027
00:59:31,781 --> 00:59:32,881
could exchange it for in the

1028
00:59:33,121 --> 00:59:33,841
One Libra.

1029
00:59:33,907 --> 00:59:37,336
It, it wasn't, it wasn't that you could exchange it, it was

1030
00:59:37,336 --> 00:59:38,416
a pound of sterling silver.

1031
00:59:38,981 --> 00:59:39,301
Oh yeah.

1032
00:59:39,301 --> 00:59:39,581
Yeah.

1033
00:59:39,841 --> 00:59:42,701
So, and that was like, how many years ago?

1034
00:59:43,011 --> 00:59:43,741
500?

1035
00:59:45,106 --> 00:59:46,976
Uh, until, uh, Isaac Newton.

1036
00:59:47,792 --> 00:59:48,272
Okay.

1037
00:59:48,572 --> 00:59:50,632
So, so yeah, but, but when was this,

1038
00:59:50,667 --> 00:59:52,987
till, till about 1700.

1039
00:59:53,434 --> 00:59:56,844
you could, it was a pound of silver, an actual pound of silver.

1040
00:59:57,774 --> 01:00:05,534
So from that point on, from the days of Isaac Newton to now, uh, the guys with

1041
01:00:05,534 --> 01:00:11,359
the money Whoever they were at the time, have been able to steal three hundred

1042
01:00:11,359 --> 01:00:17,309
and thirty, okay, let's do the math correctly, three hundred and nineteen,

1043
01:00:17,629 --> 01:00:24,849
three hundred and twenties of everyone's everything for that amount of time.

1044
01:00:24,989 --> 01:00:26,099
Well, it's worse than that.

1045
01:00:26,469 --> 01:00:29,139
yeah, they've stolen like 99.

1046
01:00:29,859 --> 01:00:32,639
7 percent of everything then, since then.

1047
01:00:33,009 --> 01:00:35,189
Yeah, but it's worse than that, Knut, because,

1048
01:00:35,724 --> 01:00:36,294
Of course it is.

1049
01:00:37,129 --> 01:00:39,499
because look, here, this is, um,

1050
01:00:40,813 --> 01:00:42,613
I know that's not a real one, that's a fake one.

1051
01:00:45,687 --> 01:00:47,347
Is that a pound?

1052
01:00:47,947 --> 01:00:48,697
Pound cash

1053
01:00:49,233 --> 01:00:49,563
So this,

1054
01:00:49,577 --> 01:00:49,637
osh?

1055
01:00:50,053 --> 01:00:55,093
is a gold sovereign that I'm holding up, Victorian gold sovereign.

1056
01:00:56,723 --> 01:01:01,503
And that would be a bit less than a quarter of an ounce of gold.

1057
01:01:03,153 --> 01:01:10,623
And it's about the weight of a, of a two piece or maybe a 20 centime or whatever.

1058
01:01:10,903 --> 01:01:15,093
I can't remember what money you use, but, but it would, it would be way,

1059
01:01:15,323 --> 01:01:20,083
way about a, it'd be a way about a quarter, a bit less than a US quarter.

1060
01:01:20,703 --> 01:01:22,123
And that was the pound coin.

1061
01:01:23,518 --> 01:01:28,298
Uh, from 1816 through till 1914, the sovereign was the pound

1062
01:01:28,298 --> 01:01:35,868
coin, and to buy one of these now costs you about 420 pounds, so

1063
01:01:36,987 --> 01:01:37,557
Yeah.

1064
01:01:37,688 --> 01:01:39,978
you about 420 pounds to buy the old pound coin.

1065
01:01:40,863 --> 01:01:41,343
Yes.

1066
01:01:41,343 --> 01:01:41,883
There you have it.

1067
01:01:41,888 --> 01:01:46,063
People, you've been robbed.

1068
01:01:47,193 --> 01:01:49,473
And they wonder what happened in 1914, hey?

1069
01:01:50,263 --> 01:01:50,443
Nah.

1070
01:01:51,688 --> 01:01:51,978
Yeah.

1071
01:01:54,128 --> 01:02:01,468
It's, they, the French, the Germans and the English all came off the gold

1072
01:02:01,468 --> 01:02:05,958
standard to print the money to pay for the First World War, as I'm sure you know.

1073
01:02:06,653 --> 01:02:07,103
Yeah.

1074
01:02:07,558 --> 01:02:10,548
And the expression was, the war will be over by Christmas.

1075
01:02:10,668 --> 01:02:12,848
Everyone thought the war would be over by Christmas.

1076
01:02:13,628 --> 01:02:17,478
And it would have been over by Christmas if they'd stayed on the

1077
01:02:17,478 --> 01:02:21,968
gold standard because there was not the gold to pay for that war to

1078
01:02:21,968 --> 01:02:23,818
go on for the extent that it did.

1079
01:02:24,688 --> 01:02:28,488
It was only coming off the gold standard and then issuing shitloads

1080
01:02:28,488 --> 01:02:32,068
of debt and printing loads of money that enabled that war to go on.

1081
01:02:32,398 --> 01:02:36,288
And, like, if you look at the beginning of the end of Europe, it was basically

1082
01:02:36,918 --> 01:02:39,908
then, maybe a couple of years earlier.

1083
01:02:40,553 --> 01:02:40,913
Yep.

1084
01:02:40,998 --> 01:02:41,918
That's when...

1085
01:02:42,228 --> 01:02:43,978
Like we were the greatest place in the world.

1086
01:02:43,988 --> 01:02:46,698
Western Europe was the greatest place in the world until about

1087
01:02:46,698 --> 01:02:51,518
1910, 1911, you know, the center of innovation, invention, everything.

1088
01:02:51,968 --> 01:02:57,858
And like that war killed us and I, we've never recovered from it basically.

1089
01:02:58,278 --> 01:03:01,228
And it was a purely creation of fear.

1090
01:03:01,756 --> 01:03:04,606
In your mind, is that war still ongoing?

1091
01:03:04,696 --> 01:03:05,626
The great war?

1092
01:03:06,076 --> 01:03:08,806
Is it a war between the governments and the people?

1093
01:03:08,896 --> 01:03:10,396
Is is it as simple as that?

1094
01:03:11,003 --> 01:03:14,353
Okay, I hadn't thought of that, but I guess you could look at it like that.

1095
01:03:14,810 --> 01:03:18,000
I mean, Europe, Europeans have always been fighting each other, but what's

1096
01:03:18,000 --> 01:03:20,800
so funny is when we're at war with each other, we're all still trading

1097
01:03:20,800 --> 01:03:22,170
with each other at the same time.

1098
01:03:22,800 --> 01:03:26,830
Like, you know, often the two armies are trading stuff with each other.

1099
01:03:27,560 --> 01:03:28,570
And, um, but...

1100
01:03:28,955 --> 01:03:30,215
Yeah, I guess so.

1101
01:03:31,068 --> 01:03:35,498
I think we've got, you know, Christians and Muslims have been fighting since the

1102
01:03:35,498 --> 01:03:38,248
invention of Islam, and we're still at it.

1103
01:03:39,351 --> 01:03:42,841
You know, that's an ongoing war.

1104
01:03:43,635 --> 01:03:47,498
But um, let's come back to metric, because this is far more

1105
01:03:47,753 --> 01:03:48,834
Yeah, yeah, yeah.

1106
01:03:48,923 --> 01:03:49,973
Back to metric,

1107
01:03:50,685 --> 01:03:56,775
So, you know, the old measurements of the body are all based around the human body.

1108
01:03:57,235 --> 01:03:57,695
Okay.

1109
01:03:58,450 --> 01:04:00,370
Which is different from person to person.

1110
01:04:00,616 --> 01:04:02,086
An inch would be a thumb.

1111
01:04:02,676 --> 01:04:07,116
Uh, a hand would be four inches, four thumbs.

1112
01:04:07,846 --> 01:04:09,176
You'd get three hands.

1113
01:04:09,751 --> 01:04:15,251
In a foot, and a foot is a shoe with a boot on, and even though

1114
01:04:15,251 --> 01:04:18,821
they vary from person to person, they actually don't vary that much.

1115
01:04:20,091 --> 01:04:25,331
And the reason, like a pound is a handful, like if you, like the most you can carry

1116
01:04:25,331 --> 01:04:27,171
in your hand is a, is a pound of apples.

1117
01:04:27,341 --> 01:04:28,101
It's just like.

1118
01:04:28,321 --> 01:04:29,081
The right amount.

1119
01:04:29,751 --> 01:04:32,731
And the reason is, we didn't have tape measures and all that years

1120
01:04:32,731 --> 01:04:35,951
and years ago, so if you're quickly measuring something, and a lot of

1121
01:04:35,951 --> 01:04:39,651
the time, you don't need a definite measure, you just need a rule of thumb.

1122
01:04:40,041 --> 01:04:44,831
And, and if I'm building a house, and I know, I know that this thing needs to

1123
01:04:44,841 --> 01:04:48,651
be four hands long, it doesn't matter what your hand's length is, all that

1124
01:04:48,651 --> 01:04:50,731
matters is what my hand's width is.

1125
01:04:51,971 --> 01:04:57,246
And um, And it's just so practical, and like bricks, for example, all bricks

1126
01:04:57,476 --> 01:05:01,524
are a hand's width, and the reason they're a hand's width is so that a

1127
01:05:01,524 --> 01:05:03,786
brickie, a worker, can lift the brick.

1128
01:05:05,123 --> 01:05:09,503
And so all bricks, even today, they're still a hand's width, and

1129
01:05:09,503 --> 01:05:11,133
that's defined how buildings look.

1130
01:05:12,907 --> 01:05:20,094
in, obviously, the measurements were a tool of taxation, especially because

1131
01:05:20,094 --> 01:05:22,034
you would be, you would measure your...

1132
01:05:22,695 --> 01:05:26,995
whatever it is, your goods, and you would be taxed on a portion of that measure.

1133
01:05:28,665 --> 01:05:35,889
And so in France, in the lead up to the revolution, you had every town had its own

1134
01:05:35,939 --> 01:05:39,039
pint, its own, they all had their own...

1135
01:05:39,509 --> 01:05:41,539
Different measures from town to town to town.

1136
01:05:42,029 --> 01:05:45,219
And it was partly a way of defrauding the tax system.

1137
01:05:45,369 --> 01:05:48,269
And it was partly a way of imposing the tax system.

1138
01:05:49,219 --> 01:05:52,499
But it's why you get so much regional diversity in architecture, because

1139
01:05:52,529 --> 01:05:54,919
every region has its own measurements.

1140
01:05:55,969 --> 01:06:00,829
And time is, the time is the same because, you know, we would think in terms of

1141
01:06:00,829 --> 01:06:02,989
dawn and dusk, sunrise and sunset.

1142
01:06:03,279 --> 01:06:07,239
We wouldn't think in terms of 8 o'clock, and it's only the leaders who are

1143
01:06:07,239 --> 01:06:11,652
imposing national control who want to centre, who want to, centralise

1144
01:06:11,652 --> 01:06:15,162
everything and have one system across the board, because it's easier to levy

1145
01:06:15,162 --> 01:06:25,137
taxes, and, so anyway, after the French, revolution, there was a bunch of French

1146
01:06:25,147 --> 01:06:30,912
scientists, and they decided that instead of measuring Things around the

1147
01:06:30,912 --> 01:06:37,962
human body, they were going to measure, uh, create a system of measurements

1148
01:06:38,032 --> 01:06:40,032
based around the world itself.

1149
01:06:41,012 --> 01:06:42,802
The circumference of the Earth.

1150
01:06:43,181 --> 01:06:44,401
Yeah, exactly.

1151
01:06:44,401 --> 01:06:49,021
So it would be a universal system of measurements for the whole world.

1152
01:06:49,911 --> 01:06:51,661
And so they, these two guys.

1153
01:06:52,131 --> 01:06:57,971
Uh, we're set, we're given the task of, um, measuring the width of the world, and,

1154
01:06:58,051 --> 01:07:02,511
but they couldn't go from the North Pole to the South Pole, so they decided to go

1155
01:07:02,531 --> 01:07:06,841
from, one guy went from Paris to, I think, Dunkirk, and then they were going to

1156
01:07:06,841 --> 01:07:12,541
extrapolate it from there, and the other guy went from Paris to Barcelona, and he

1157
01:07:12,541 --> 01:07:13,951
was going to extrapolate it from there.

1158
01:07:15,041 --> 01:07:17,371
And the Earth is not a perfect sphere, so it's...

1159
01:07:17,906 --> 01:07:21,916
Exactly, they thought the earth was a perfect sphere, but straight away it's

1160
01:07:21,926 --> 01:07:24,885
not, so the system is flawed, but, uh,

1161
01:07:25,915 --> 01:07:30,075
I think, I can't remember the exact numbers, but one meter was going

1162
01:07:30,075 --> 01:07:35,876
to be one exact division of, the, the, the, radius of the earth.

1163
01:07:37,426 --> 01:07:40,626
But anyway, the guy who had to go from Barcelona to Paris,

1164
01:07:41,702 --> 01:07:43,202
He had all sorts of problems.

1165
01:07:43,632 --> 01:07:45,872
He had this device for measuring distances.

1166
01:07:45,872 --> 01:07:47,382
You would measure it between two heights.

1167
01:07:47,952 --> 01:07:50,912
And, uh, and they thought he was a tax collector.

1168
01:07:51,112 --> 01:07:53,392
So he was lynched and he was put in prison.

1169
01:07:53,662 --> 01:07:56,942
Then they thought he was some kind of witch and he had a nightmare.

1170
01:07:57,192 --> 01:08:02,432
And so he ended, he ended up faking the data, uh, to make it out like it was, uh,

1171
01:08:03,040 --> 01:08:06,880
what he expected it to be, and they only discovered afterwards that he'd faked the

1172
01:08:06,880 --> 01:08:11,340
data, and they hit, they hid it, but they, so they actually got the measurement of

1173
01:08:11,390 --> 01:08:16,220
the, of the circumference of the earth wrong, and they were out by about a mile

1174
01:08:16,220 --> 01:08:23,230
and a half, and, um, so the, the, the meter is a fundamentally flawed measure.

1175
01:08:23,710 --> 01:08:27,968
It's based on a flawed measurement, and that's how metric came around,

1176
01:08:27,968 --> 01:08:31,488
but it's a, basically metric is a tool of control and a tool of taxation.

1177
01:08:31,928 --> 01:08:35,408
Yeah, but nowadays it's not, it's not defined as anything that has to

1178
01:08:35,408 --> 01:08:36,358
do with the Earth's circumference.

1179
01:08:37,178 --> 01:08:40,098
It's just how, how fast something travel, how

1180
01:08:40,308 --> 01:08:44,188
Yeah, it's based on some ludicrously, but they've kept the old meter.

1181
01:08:45,063 --> 01:08:45,493
Yeah, yeah.

1182
01:08:45,858 --> 01:08:49,438
So the meter is the same, but now they've said, they've worked out the speed of

1183
01:08:49,438 --> 01:08:54,928
light, and, and, and, and they've said it's 1 240 millionth of whatever it is.

1184
01:08:55,288 --> 01:08:58,468
And there's some sort of ludicrously precise, incomprehensible

1185
01:08:58,468 --> 01:09:00,318
figure that defines a meter.

1186
01:09:01,183 --> 01:09:01,793
All right.

1187
01:09:02,063 --> 01:09:04,183
Uh, well, good arguments.

1188
01:09:04,263 --> 01:09:05,833
I only have one question.

1189
01:09:06,218 --> 01:09:10,958
I, I have to say, if, if, I did a lecture, it's, it's not fresh in my mind, but I did

1190
01:09:10,958 --> 01:09:13,658
a lecture about this, um, and if you go...

1191
01:09:14,093 --> 01:09:18,933
On YouTube, and you type in, uh, Dominic Frisby Weights and Measures, you'll find

1192
01:09:18,933 --> 01:09:23,693
my lecture, and it lasts about an hour, but it's, it's really, really interesting,

1193
01:09:23,813 --> 01:09:27,863
and it, of course, like a lot of the stuff I put on the internet, it's criminally

1194
01:09:27,863 --> 01:09:31,213
under recognized, and hasn't had nearly the amount of views that it should have,

1195
01:09:31,553 --> 01:09:32,943
but it's a really, really interesting,

1196
01:09:33,343 --> 01:09:34,733
We suffer from the same problem.

1197
01:09:35,133 --> 01:09:37,093
But yeah, but the, but it's really, really interesting.

1198
01:09:37,093 --> 01:09:40,453
And I urge you, if you're interested in this subject of measurements and the

1199
01:09:40,453 --> 01:09:44,393
history of measurements, watch the lecture and it's a good way of spending an hour.

1200
01:09:44,922 --> 01:09:45,282
Yeah.

1201
01:09:45,282 --> 01:09:50,972
So, so only one question about this, uh, Dominic and that is, do you know why a

1202
01:09:50,972 --> 01:09:54,112
penis can never get longer than 12 inches?

1203
01:09:55,289 --> 01:09:56,369
It becomes a foot.

1204
01:09:58,204 --> 01:09:59,164
At that point, right?

1205
01:10:00,064 --> 01:10:00,344
Yeah,

1206
01:10:00,619 --> 01:10:01,679
Is that, is that the joke?

1207
01:10:02,134 --> 01:10:02,614
yeah, yeah.

1208
01:10:02,779 --> 01:10:03,289
Oh, okay.

1209
01:10:03,289 --> 01:10:03,489
Okay.

1210
01:10:03,489 --> 01:10:05,339
Because then it, then it becomes a foot.

1211
01:10:05,359 --> 01:10:05,609
Okay.

1212
01:10:05,609 --> 01:10:05,949
I'll catch you.

1213
01:10:05,949 --> 01:10:06,299
I'll catch you.

1214
01:10:06,569 --> 01:10:06,839
Sorry.

1215
01:10:06,839 --> 01:10:06,969
Yeah.

1216
01:10:06,969 --> 01:10:07,129
Yeah.

1217
01:10:07,129 --> 01:10:07,509
Sorry.

1218
01:10:10,329 --> 01:10:11,349
I'm not very good audience.

1219
01:10:11,364 --> 01:10:11,584
laugh.

1220
01:10:11,584 --> 01:10:14,534
This

1221
01:10:14,589 --> 01:10:14,789
becomes a foot.

1222
01:10:15,189 --> 01:10:15,589
Okay.

1223
01:10:15,609 --> 01:10:15,839
Fair enough.

1224
01:10:16,774 --> 01:10:18,974
is a good point to give the mic to Luke, I

1225
01:10:19,284 --> 01:10:19,864
Oh, God.

1226
01:10:20,324 --> 01:10:23,084
So, yeah, right after the joke.

1227
01:10:23,084 --> 01:10:26,754
So, the French couldn't figure out the circumference of the Earth, but the

1228
01:10:26,754 --> 01:10:32,984
Egyptians could make it so that the Great Pyramid was exactly 143, 200 exactly

1229
01:10:33,194 --> 01:10:34,394
of the circumference of the Earth.

1230
01:10:34,404 --> 01:10:38,834
It's mind boggling that the French fell so far from the ancient Egyptians.

1231
01:10:38,839 --> 01:10:47,058
Well, yeah, and I think light travels at one foot per nanosecond.

1232
01:10:48,648 --> 01:10:54,368
So actually, and it turned out that the imperial system was

1233
01:10:54,368 --> 01:10:55,418
actually much more accurate.

1234
01:10:57,468 --> 01:10:59,308
And in America, they don't call it imperial.

1235
01:10:59,308 --> 01:11:03,248
In America, they call it English weights and measures, but if you look

1236
01:11:03,248 --> 01:11:09,298
at traditional weights and measures as a system, it makes no sense

1237
01:11:10,418 --> 01:11:12,168
because it's not, it's not a system.

1238
01:11:12,168 --> 01:11:13,308
It's all ad hoc.

1239
01:11:13,658 --> 01:11:17,038
It's a, it's a constantly evolving market process.

1240
01:11:17,418 --> 01:11:19,928
That's a, you know, you're just building on the wisdom of your

1241
01:11:19,928 --> 01:11:23,388
forefathers and as stuff becomes irrelevant, it gets discarded.

1242
01:11:24,097 --> 01:11:27,757
So, once you try to analyze it through the prism of a town, of a planner,

1243
01:11:27,877 --> 01:11:30,097
and a system, it makes no sense.

1244
01:11:30,517 --> 01:11:33,837
And you have to realize it's not a system, it's an ongoing process.

1245
01:11:34,836 --> 01:11:35,446
Makes sense.

1246
01:11:35,586 --> 01:11:36,186
Yeah.

1247
01:11:36,236 --> 01:11:40,086
So, so maybe they take us in a slightly different direction because

1248
01:11:40,086 --> 01:11:44,606
I think, uh, well, yeah, I guess maybe even just one comment on this

1249
01:11:44,636 --> 01:11:46,366
is it's got a lot of parallels, right?

1250
01:11:46,396 --> 01:11:49,986
That it's, it's bottom up versus top down, right?

1251
01:11:50,451 --> 01:11:53,081
Central planned versus just let the market do its thing.

1252
01:11:53,361 --> 01:11:54,771
Yeah, there's a lot of argument to that.

1253
01:11:54,951 --> 01:11:59,511
Is there, is there, uh, maybe a devil's advocate argument there that, that, uh,

1254
01:11:59,641 --> 01:12:04,801
metric has, has simplified, uh, some things like, for example, that the, the

1255
01:12:04,841 --> 01:12:11,151
kilometer makes calculating distances, uh, simpler if you, if you have it in

1256
01:12:11,166 --> 01:12:12,516
Can I add to that, Luke?

1257
01:12:12,516 --> 01:12:16,386
Because it's not the metric system, it's the SI system that, that

1258
01:12:16,506 --> 01:12:18,816
binds all of the units together.

1259
01:12:18,816 --> 01:12:23,826
That's, that's the real benefit of, of, uh, conforming units.

1260
01:12:23,826 --> 01:12:28,446
So it's the kilo and it's, you know, lumen and it's all, all of these other

1261
01:12:28,451 --> 01:12:30,816
units that, that have a system together.

1262
01:12:31,276 --> 01:12:35,806
Yeah, except that in the SI system they've abandoned the liter, because it

1263
01:12:35,806 --> 01:12:40,346
was inaccurate as well, and they've just quietly dropped it out of the SI system.

1264
01:12:41,836 --> 01:12:42,466
So what is it?

1265
01:12:42,466 --> 01:12:44,056
Now you

1266
01:12:44,206 --> 01:12:49,476
I don't know, I think they do it in, a litre was supposed to be, um, one

1267
01:12:49,486 --> 01:12:53,076
tenth of a cubic metre, or something like that, and it just isn't.

1268
01:12:53,536 --> 01:12:54,906
So anyway, they've abandoned it.

1269
01:12:55,366 --> 01:13:02,536
But, um, the, there, there is a beauty to, it, it, it, like, you'll have

1270
01:13:02,536 --> 01:13:05,086
to look it up, Knut, because I can't remember the details, I just know

1271
01:13:05,086 --> 01:13:06,306
it's flawed and they've dropped it.

1272
01:13:07,006 --> 01:13:12,301
Um, um, metric is a beautifully simple system, dividing everything by ten.

1273
01:13:12,891 --> 01:13:18,211
And decimal, um, mathematics only really came into being maybe fifty or a

1274
01:13:18,211 --> 01:13:20,051
hundred years before the metric system.

1275
01:13:20,521 --> 01:13:24,831
And we, we're so used to thinking in tens and decimals now, and

1276
01:13:24,831 --> 01:13:26,711
especially with computers and so on.

1277
01:13:26,941 --> 01:13:28,921
You know, computers decimalize everything.

1278
01:13:29,373 --> 01:13:32,193
But they don't think in decimals, they think binary.

1279
01:13:32,679 --> 01:13:33,969
Okay, but you know what I mean.

1280
01:13:34,279 --> 01:13:41,249
And whereas before, we would think in 12s, and, you know, 16, 8, 4, 2, 1, they

1281
01:13:41,249 --> 01:13:43,579
were all ways of quickly dividing things.

1282
01:13:44,079 --> 01:13:48,229
Um, if you've got a piece of cake, if you imagine a piece of cake, uh, it's hard

1283
01:13:48,239 --> 01:13:52,619
to divide a piece of cake into 10, but it's easy to divide a piece of cake into

1284
01:13:52,619 --> 01:13:56,169
16, because you halve it, you halve it, and you halve it again, and you've got...

1285
01:13:56,704 --> 01:13:57,814
16 equal pieces,

1286
01:13:58,679 --> 01:13:59,709
Yeah, that's a piece of cake.

1287
01:13:59,719 --> 01:14:00,139
All right.

1288
01:14:00,438 --> 01:14:06,058
but the, the, the other, the, the other beauty of Metric, it is a, it is a, it is

1289
01:14:06,058 --> 01:14:10,648
a, well, the, even though the fundamental measure was flawed and I was being just

1290
01:14:10,648 --> 01:14:14,868
slightly contrarian because I was, the actual, it is actually a beautifully

1291
01:14:14,918 --> 01:14:17,418
simple system Metric and it extrapolates.

1292
01:14:18,288 --> 01:14:23,838
Uh, so that you, you know, you, you, you can't use the human body to measure light

1293
01:14:23,838 --> 01:14:27,198
years, for example, or nanoparticles.

1294
01:14:27,758 --> 01:14:31,568
Um, whereas metric you can, because it, it, it extrapolates

1295
01:14:31,573 --> 01:14:32,978
down and it extrapolates up.

1296
01:14:33,398 --> 01:14:36,638
So, and, and you do need one.

1297
01:14:36,788 --> 01:14:40,908
Universal system of measurement for science.

1298
01:14:42,338 --> 01:14:46,558
And, um, you know, there have been cases where, like there was a famous incident

1299
01:14:46,608 --> 01:14:52,818
where a plane crashed because, uh, one, they filled it up using, thinking they

1300
01:14:52,818 --> 01:14:55,858
were using gallons and they were only using litres or something like that.

1301
01:14:56,118 --> 01:14:58,518
And so the plane didn't have enough fuel and it crashed.

1302
01:14:58,843 --> 01:15:03,123
There was a spaceship too, like one of the NASA spacecraft.

1303
01:15:03,683 --> 01:15:04,003
Yeah.

1304
01:15:04,478 --> 01:15:05,258
That's true too.

1305
01:15:05,926 --> 01:15:09,376
So the thing is that if you go into even deeper on this, like

1306
01:15:09,376 --> 01:15:13,576
mathematics itself could have been simpler if we had 12 in the base.

1307
01:15:13,786 --> 01:15:18,276
So, so if the zeros were added after 12, so sort of like, so, so

1308
01:15:18,306 --> 01:15:23,696
we counted from zero to 12 instead of zero to 10, because, because.

1309
01:15:24,091 --> 01:15:30,231
12 is divisible by both 2 and 3, which 10 is not, so that

1310
01:15:30,501 --> 01:15:31,521
would have made more sense.

1311
01:15:32,011 --> 01:15:40,711
Uh, uh, yeah, anyway, and this is also to say it's like, it's sort of like HTTP 4,

1312
01:15:41,231 --> 01:15:44,101
which became the standard of the internet.

1313
01:15:44,196 --> 01:15:46,976
Uh, even though it was not perfect, it's good enough.

1314
01:15:47,076 --> 01:15:50,826
So people, and then you get the network effect and then people start using it.

1315
01:15:50,826 --> 01:15:54,201
And I guess it's the same with the metric system, after it was introduced.

1316
01:15:54,241 --> 01:15:57,841
So it was flawed, but it was good enough to replace the old system.

1317
01:15:58,586 --> 01:16:03,556
Well, everywhere that adopted the metric system did so after some

1318
01:16:03,556 --> 01:16:04,986
kind of political revolution.

1319
01:16:05,901 --> 01:16:06,301
Yeah.

1320
01:16:06,439 --> 01:16:10,759
The, the change of measurement system was always preceded by some kind of political

1321
01:16:10,759 --> 01:16:16,649
event and, and it's thought that, you know, the new regime wants a new beginning

1322
01:16:16,649 --> 01:16:18,219
so they change the system of measurements.

1323
01:16:18,729 --> 01:16:24,749
But the only countries in the world with strong enough national cultures to resist

1324
01:16:24,799 --> 01:16:27,739
the onslaught of metric, uh, are the U.

1325
01:16:27,739 --> 01:16:27,929
S.

1326
01:16:28,644 --> 01:16:34,624
And I think Burma and the, uh, the, what do you call it, Myanmar, and I think

1327
01:16:34,624 --> 01:16:36,134
it's the Philippines or somewhere else.

1328
01:16:36,194 --> 01:16:38,324
There's like three countries in the world that still use the

1329
01:16:38,324 --> 01:16:39,964
old system and good for them.

1330
01:16:41,079 --> 01:16:41,279
Yeah.

1331
01:16:41,279 --> 01:16:44,849
And of course we should all be driving on the left side of the road as well.

1332
01:16:44,849 --> 01:16:45,149
Right.

1333
01:16:46,264 --> 01:16:48,224
Uh, probably.

1334
01:16:48,499 --> 01:16:53,319
and ban blenders in bathrooms so that you have one for cold and one for warm.

1335
01:16:53,319 --> 01:16:55,809
I mean, blending them together makes absolutely no sense.

1336
01:16:56,179 --> 01:16:56,719
Isn't that the

1337
01:16:56,734 --> 01:17:00,764
The world, the world was a better place when the British ran it.

1338
01:17:00,904 --> 01:17:01,834
That's all I'm saying.

1339
01:17:02,668 --> 01:17:06,688
Um, guys, I'm, I'm going to have to go cause I'm, I'm running out of steam and

1340
01:17:06,688 --> 01:17:09,488
I've just got off this plane and I've got to unpack and do all that shit.

1341
01:17:09,613 --> 01:17:11,833
Well, thank you very much for doing this, Dominic.

1342
01:17:11,833 --> 01:17:15,193
We we're going to round it off here somewhere around here anyway, and

1343
01:17:15,253 --> 01:17:16,903
we appreciate you coming on a lot.

1344
01:17:17,083 --> 01:17:23,403
Uh, looking forward to seeing you in, uh, uh, in, uh, away from keyboard next time.

1345
01:17:23,583 --> 01:17:25,923
Uh, and, uh, are you coming to Madera?

1346
01:17:27,058 --> 01:17:27,668
What's going on?

1347
01:17:27,828 --> 01:17:29,078
I don't even know what, what it is.

1348
01:17:29,078 --> 01:17:29,618
What is it?

1349
01:17:30,093 --> 01:17:34,083
Bitcoin Atlantis, that's like the conference to go to this year.

1350
01:17:34,153 --> 01:17:35,413
Look it up, bitcoinatlantis.

1351
01:17:35,413 --> 01:17:36,756
com, uh, 1st

1352
01:17:36,758 --> 01:17:37,148
When is it?

1353
01:17:38,183 --> 01:17:39,463
3rd of March.

1354
01:17:40,878 --> 01:17:41,828
Oh, I'm not gonna be able to go.

1355
01:17:42,553 --> 01:17:43,253
Oh, that's a shame.

1356
01:17:43,593 --> 01:17:44,933
Bitcoin Atlantis sounds great though.

1357
01:17:45,737 --> 01:17:48,257
Yeah, it's, it's, it's going to be big.

1358
01:17:48,947 --> 01:17:49,627
Sailor's coming.

1359
01:17:49,793 --> 01:17:50,343
my dear.

1360
01:17:50,343 --> 01:17:51,903
You really have nothing to fear.

1361
01:17:53,203 --> 01:17:54,233
thanks very much guys.

1362
01:17:54,593 --> 01:17:55,333
I'll see you soon.

1363
01:17:55,363 --> 01:17:59,473
And can you, will you, if anyone, uh, likes me, can they sign up

1364
01:17:59,473 --> 01:18:04,328
for my, um, Like, I have, I have a comedy newsletter, which is frisbees.

1365
01:18:04,988 --> 01:18:07,018
news, frisbees.

1366
01:18:07,028 --> 01:18:10,818
news, and I have a sort of serious financial newsletter, flyingfrisbee.

1367
01:18:10,848 --> 01:18:11,148
com.

1368
01:18:11,511 --> 01:18:14,621
Well, Dominic, thank you so much for your time.

1369
01:18:14,681 --> 01:18:18,071
And we'll have to bring you on another time to talk about some of the things

1370
01:18:18,071 --> 01:18:19,651
you've been doing more recently.

1371
01:18:19,651 --> 01:18:23,141
We've kept you on the task and the metric stuff, but it was a pleasure.

1372
01:18:23,211 --> 01:18:25,601
Thank you for joining us and take care until next time.

1373
01:18:25,926 --> 01:18:28,316
Good, good luck, and good luck finding Finland.

1374
01:18:29,391 --> 01:18:30,051
Thank you so much.

1375
01:18:30,081 --> 01:18:31,401
I do my best every day.

1376
01:18:32,011 --> 01:18:33,031
All the best man.

1377
01:18:33,226 --> 01:18:33,956
Cheers folks.