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You've had a dynamic where money has become freer than free.

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You talk about a Fed just gone nuts.

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All the central banks going nuts.

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So it's all acting like safe haven.

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I believe that in a world where central bankers are tripping over themselves to devalue their currency,

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Bitcoin wins.

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In the world of fiat currencies, Bitcoin is the victor.

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I mean, that's part of the bull case for Bitcoin.

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If you're not paying attention, you probably should be.

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Marilyn Hoddle, the vibration feels off.

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It certainly does. It certainly does. Doesn't it, Marie?

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It does. That's where we were just talking about.

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I think we start here, the vibration feeling off.

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This is sort of a grown theme.

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I've seen you tweet about Darkside, who was on the show earlier this summer.

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tweet about. Let's jump into that. This idea of systemic vibrations as a leading indicator for

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potential turmoil on the horizon. Yeah. A lot of the work I've been doing is I'm a listener.

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So for the last five years, since I kind of stumbled into this space, I listen. I watch

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podcast i coming twitter um i'm in spaces listening just to different ideas and seeing

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where things are breaking down at you know a couple of the people i really like to follow as

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of late um who i think has been pretty much spot on for years is luke gorman right and his most

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recent um podcast that he did basically he started alluded to you know from his vantage point it looks

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like the system's breaking down and there's going to be a bond revolt and essentially the U.S.

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government's going to have to sacrifice the bond market for a variety of different reasons. And he

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put a timeline of six to nine months from his vantage point, right? You have economic and

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geopolitical risks that are basically growing in the market and it's going to hit ahead at some

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point. You know, and then you take Jack Myler's Monday podcast that he just recently released,

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right? He dives into the fact that austerity doesn't work. You know, we're seeing the examples

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of that in Argentina currently. If you extrapolate further and take that into the United States,

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like we're seeing a continuation of all these efforts that are basically fruitless.

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And the shaping that I put out this week was basically that the government, in my opinion, Bitcoin's already won, right?

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The government is out of options and that the industrial system that we have grown to basically embrace over the last, since the 1900s, you know, GDP is, we have an inflationary system that is basically heading towards a deflationary system.

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run by AI with a monetary base unit of Bitcoin,

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which in my opinion is the only monetary asset

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that can work in a system of deflation.

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So what we're seeing is these systemic fractures

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that are happening across society,

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and you can see it even socially, right, with the cultural wars.

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I think that they're becoming more frequent,

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which you can essentially equate back to the vibration

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that you're discussing about.

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And it's becoming more noticeable by even the everyday individual, right?

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So I think society as a whole is starting to wake up to the idea that something's wrong.

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The financial markets certainly are.

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I mean, correlations are breaking down across the board.

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Historical norms that have basically been in place for decades, even generations, are no longer holding up.

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You know, I think we have a potentially real crisis on our hands.

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And, you know, I spend a lot of time thinking.

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I think you have young kids.

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I have a three-year-old.

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And as a father, during this stage, early child development, you start thinking more about what the future is going to hold for your child.

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So a lot of my work and effort has been basically focused around a transition, right?

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What is the transition going to look like from an inflationary system to a deflationary system?

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How do we avoid all the issues with the forward turning?

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And, you know, what are the issues like the death and destruction, right?

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Entering into another World War II scenario or before that a civil war and before that the revolutionary war, right?

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But now we're at a global scale with different types of weapons, right?

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That can ultimately end society.

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So my thought process has been I look at Bitcoin as a tool for self-sovereignty, but also a tool to be utilized potentially or designed to help us transition through this system.

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But to your point, the vibrations are getting more violent.

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And I think they're becoming undeniable by even the average person across the board.

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yeah i mean outside of the culture wars and the social incohesion which seems obvious i think

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one sort of anecdotal data points or data points that i really leaned on over the last two three

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years specifically are the um the selfie videos of people sitting in their cars complaining about

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a myriad of different things whether it's the grocery bill health insurance car insurance the

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inability to afford a house in the first place. I mean, those are accelerating and who knows if

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they're just sort of attention grabbing things that people are trying to leverage on TikTok to

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get sympathy or feel like their voice is being heard or get some attention. But I feel like

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it's very clear that I do think there's signal there in the sense that people are really feeling

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the burden of the economic pressure

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and this gap between the rich and the poor accelerating.

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But in terms of systemic vibrations within the system,

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what specifically are you looking at?

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I mean, you mentioned Mahler's earlier this week

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talking about austerity doesn't work.

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In the context of Argentina,

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obviously the Treasury just opened up a swap line with them

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for $50 billion to sort of lessen the blow of the austerity

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that they've implemented throughout the country over the last few years.

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What else are you looking at?

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Well, I think you just highlighted the micro and the macro, right?

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And, you know, again, I go back to what I've been saying is I listen a lot.

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So, and then I take more of a theoretical approach to being like the system,

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the money's broken.

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So the incentive structures are distorted and misaligned across society.

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You know, I mean, because the money is broken, the average American, it's more difficult also with the regulatory environment to start a new job, right?

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For the average American, I'm not talking about in the digital economy where individuals that are resourceful can basically whip up a business in a couple of days and kind of get network effects.

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But in the real world, it's difficult. And I see that with family members. I see that with friends. And I don't, the rest of society, I spend a lot of time focusing on kind of the convergence of AI and Bitcoin, as I indicated.

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But we have this amazing tool in front of us, basically with AI, and I use it a lot.

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I even, I mean, I use it medium, a medium for me that has never really been one that I've utilized has been writing.

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But I use AI for my writing, you know, that's and that's not lost on me.

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But the importance of that is the fact that I can throw ideas in the system and I can have active conversations with it and that can start connecting the dots on various things.

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Right. But if you look across the fabric of society right now, you know, from my perspective, I'm seeing distortions.

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I can't really put a finger on exactly those distortions, but you kind of see them day in and day out.

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It doesn't matter where you look.

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So, yeah. And to your earlier point about the federal government, the Fed, Treasury being backed into a corner and really having no other option than the Senate on turbo and the base, everything.

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Well, I think we're heading to a wartime economy, right?

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I mean, the Defense Department basically just changed their name to the War Department.

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Do I think it's going to lead to kinetic warfare?

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It could.

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But I think what we're doing is we're creating that sense of patriotic, like, you know, Luke

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talked about it a little bit in his macro podcast that he did.

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But I think we're heading towards more of a bifurcated world, right?

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Nobody's buying our debt.

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Um, you know, Europe's in a very difficult situation.

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I think they're technically functionally broke.

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Um, so in order to, to kind of solve their economic woes, they're going to have to go

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to war.

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Uh, and that seems to be where they're, they're heading.

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Um, and that leaves the U S in a pretty interesting predicament.

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So, you know, of course we have our allies across the world in various countries, but,

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um, and we'll continue to protect them with those alignments.

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But I think the U.S. is heading towards looks to be heading towards a direction where it's going to we're going to have bifurcated economic zones where it's going to be Western Hemisphere versus Eastern.

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And we're going to have to work together because we're still going to have trade.

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But I think the U.S. is going to potentially stop meddling with other countries geopolitical wise and start focusing on cleaning its own house in its own hemisphere.

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So that's why I see different things happening in Panama to Mexico to Canada to Argentina to now Venezuela.

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You know, we're adding additional pressure to Brazil.

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I think what we're doing is trying to clean house in the Western Hemisphere.

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But these are all part of that vibration, right, is basically we're seeing movements that haven't historically happened that are happening now, again, with more frequency.

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Yeah. And then domestically, look at like the industrial policy that Trump's gone after. I was just pulling it up. Speaking of using AI, just doing some deep research here on the go. But Trump's taken equity positions in semiconductors, energy companies, critical minerals companies, took a golden share, quote unquote, golden share in U.S. steel under its acquisition by Nip and Steel.

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So it seems like that push to re-industrialize the homeland is there.

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I guess that's my question.

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Can they actually do it successfully?

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Can the federal government pick the winners and losers in this re-industrialization and manifest a good outcome?

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I think if they have a sense of where we're heading, if they know that AI is going to be revolutionary, from my perspective to the degree I think it will be, for humanity, I think it's pretty easy.

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You're just investing up and down the supply chain and trying to control those resources.

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Now, do I think that's ethical or where the government should be? No.

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But again, it goes back to the whole idea that we're in a wartime economy, right?

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And that war is to be first.

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The war is basically over monetary base layer and kind of the reconfiguration of that, which is going to be a delicate matter.

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But it's also around securing resources that we need for not just our economy, domestic economy, but also for defense, right?

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And I don't know how much longer we can go with getting materials from China without a solidified kind of trade agreement.

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Right. And that seems to be up and down with how the administration basically has been kind of conveying that information to the public for for several months now.

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Yeah. Yeah, it's very positive because, I mean, particularly juxtaposed to China.

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if you look at the head start that they have at the base layer i would even put this below

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money or actually no it's right above money which is energy like that's that's where i could see the

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the big hurdles coming is in the energy sector in terms of just simply not having

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the grid infrastructure the transmission infrastructure in place to actually manifest the

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scalable artificial intelligence boom in the United States.

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Agreed. I mean, I think it was, if it works with AI on it, Eric Rice commented on it the other day.

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I said it was going to be about $2 trillion from my research in public infrastructure investment.

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It's going to have to happen on behalf of the government. So he corrected me and basically said,

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actually, if you run the numbers from a different vantage point, it's going to be close to $3

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trillion, right? Just to get the grid up to where it needs to be without sacrificing kind of the

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domestic residential side. So we're talking some really big numbers, right? And we're also talking

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about having to do it at a very high-paced speed, which I don't know if our economy is

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told to do so at this point, right? Again, it kind of plays into the wartime economy, right?

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I think there'll end up being mandates that basically say, you know, this is the direction

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in the country we have to go and it's about survival, right? We have to win this race.

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So I'm not too much of a geopolitical.

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You know, this is just armchair.

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But I certainly have some thoughts.

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But I think it's a global AI race and we have to win.

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And I think what we're seeing is the U.S. government basically getting us ready to secure the Western Hemisphere and kind of retour our economy so that we can do that.

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Yeah, I guess this is a good segue into the monetary aspect of it.

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I mean, transitioning from industrial sort of industrial policy in terms of making sure that we have the physical critical infrastructure in place.

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Obviously, the U.S. dollar has been the reserve currency of the world.

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We've used that to our advantage over the last 50 years, specifically 54 years since we ripped the dollar off the gold standard officially in 1971.

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And obviously the veracity of the U.S. dollars, the reserve currency is coming into question as we've gone into 37, almost 38 trillion dollars in debt.

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I think I saw yesterday that we added 60 billion in a couple of days earlier this week to the deficit.

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And there's sort of two things at play.

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You have that physical industrial policy.

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Then it seems very clear if you have more than two brain cells just looking at what the priorities were the first nine months of this administration that really rejiggering the monetary protocol and monetary system that we've that we've leveraged for years is a very high priority.

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It's actively breaking down.

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Right. And we can see that in the bond offerings.

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we can see it by them moving duration from the long end to the front end right

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and and the set coming in and essentially continuing Yellen's strategy

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right and I think it's because they're out of they're out of options on top of

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that you can see it from Jay Powell right his the markets reaction to his 50

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basis point increased last year, whether you agree with it or not, the bond market moved

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in the wrong direction, right?

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His most recent cut bond market, basically, it's kind of been flat over the last year,

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but it basically, again, moved in the wrong direction, right?

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So I think the Fed has essentially been, in my opinion, my framework has been neutralized.

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It's not functional anymore to the way that it historically should be.

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And I'm sure there could be professional economics that would argue differently.

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But at least from my framework, again, going back to those correlations breaking down, you know, and the systemic vibrations that we're starting to see that Luke was alluding to with being like a kind of a bond revolt and potentially sacrificing the bond market at expense of kind of saving the system or pivoting to a new system.

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I think that's essentially the general direction we have to go and we have to come up with other

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solutions and I think that we're starting to to get you know I tend to try to read the tea leaves

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at least through my framework with some of the the ideas I'm throwing out there and not only try to

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make them logical but also have them fit in what I'm viewing in the news or through the administration

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or through ideas that, you know, individuals such as yourself or Jack are basically putting out there

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and kind of how I started coming up with some of the theories I'm putting out there now.

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Yeah, and I'm just pulling up this Porter Stansberry thread from yesterday.

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I thought he made a really good point to your point about the system breaking down

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and pulling the Fed into it specifically.

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I think that the fact that many of the decisions that are made at the Federal Reserve and the Treasury are based off of completely manipulated economic data, particularly inflation, is really what has backed them into a corner and makes them unable to actually implement policy that could turn things around.

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because if you're setting the Fed funds rate

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using the Taylor rule above what CPI is telling you inflation is,

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you're using the wrong metric to base that rate off of.

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It's getting tough to be a traditional economist, right?

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You can't make the arguments like you used to.

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I mean, somebody came out yesterday and commented,

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his name's going to escape me.

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He's on CNBC a lot.

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Amir?

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Do you know who that is?

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Amir?

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Yeah, well, he has the mustache.

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He looks like he's maybe Turkish.

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Oh, you mean Mohammed Al-Aaron?

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Correct.

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Yeah.

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And, you know, he put a post out there

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as just reforming or strengthening the argument

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that JP Morgan put out,

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basically calling Bitcoin the deflation trade, right?

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Or the debasement trade.

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Debasement trade, yeah.

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but you know he's been a historically very strong traditional trad by type of economic

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economist and even he's starting the changes tune right so yeah it's again going back to

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the vibrations people can't ignore it anymore yeah I'm just going to pull up this

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supporter thread because I thought it was really good I read this on my flight back yesterday but

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diving into this he does some great work yeah and to your point on uh

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a muhammadal around like he's been a bitcoin hater it's funny like he was referencing a jp

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morgan sort of like analyst report i guess they they polled their customers at jp morgan like why

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are you allocating the bitcoin and they were relaying that information and both jp morgan and

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muhammadal around who have both been pretty bearish on bitcoin for well over a decade

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sort of had to admit like people are we may not deem it to be the perfect alternative but

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many others our clients see it that way um and to the point about like this is exactly why it's

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because whether it's the fact that people explicitly understand this or just intuitively

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feel it which i feel like the latter is uh is the case for most people they just intuit it

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But I think this point here

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About the Fed

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Not being able to make good decisions

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Like in plain English

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He just explained the Taylor rule

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It's 2% plus the current inflation rate

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Using official CPI

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The Taylor rule prescribes the current

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4.75% Fed fund rate

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However, if you use actual inflation

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The Taylor rule would set

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Short term rates at 17.5%

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So you just have this complete

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Mispricing of

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of of risk and money risk and money correct um well i mean if you want to take it to

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from a bitcoin lens i mean if you look at what sailor's doing he's developing a bitcoin yield

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curve right and right now he's currently trying to figure out in price where his stretch product

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is right now granted you have some nuances with the fact that the market doesn't yet completely

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understand what he's trying to do or value the collateral appropriately.

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So there's some perception issues, but he's currently at what, 10 and a quarter, 10 and

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a half percent on the stretch product.

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And I think that ultimately is kind of establishing a Bitcoin yield curve where he's establishing

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the cost of money, right?

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Where it ultimately should be with kind of within the economic framework of where we

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might be heading to.

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so um and that plays right into the the taylor rule with the true fallation being you know

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upwards of 15 yeah and as we're speaking bitcoin's running towards 122 and and uh

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i guess let's get into like this this this two-part series that you've written so far on

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stable coins bit bonds bitcoin and sort of this the silent coup that is going on behind the scenes

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yeah so i and i respect a lot of the work that you and your team do um and i've also also give

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a shout out to burn the fed because he also has a similar type of approach um i love the storytelling

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aspect that you guys do and how it hits not only educational but it hits from an emotional

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standpoint to people um so what i look to do is kind of replicate that in the writing that i'm

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doing, which, you know, I set in the parameters to keep it kind of stoic, right? But I want to make

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it almost storytelling, but trying to tell how we got there. So that's why I started with kind

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of the prelude and then moved into the part one and then part two. I'll be issuing something over

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the next two weeks, specifically on BitBonds, at least for my framework and how I look at it,

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because I think everybody looks at it a little differently. I really started to

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kind of connect the idea. Um, when Aaron New Owens talked about it, um, in DC in December or

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January this past year, um, I really started kind of diving into what the implications of

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this new product was. Um, and as I started, yeah, I took the white paper that they developed with

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Matt Pines and threw it into AI, started having a bunch of conversations about it. And then I just

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kind of sat on it for a little bit. Um, we moved into kind of the, the May timeframe. Um,

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and I kind of picked it up and started revisiting it again. And then I heard some rumblings about

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21 coming out and I was like, all right, well, if I'm the U S government, I'm not going to be

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able to essentially, uh, issue pick on bonds out of the treasury. Cause we're going to have

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political issues. So I kind of connected the dots of being, well, you have 21, you have

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Canterford Sheld, who's a primary, and then you have SoftBank and Tether. It seems like a pretty

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interesting union. And I kind of started diving a little deeper into my thoughts and frameworks

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around that. And I'm like, it seems like this would be the perfect entity to essentially do

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like a BitBond pilot and kind of bypass any political issues with Congress.

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And from that, I kind of put out a short tweet and, you know, Dark and Buncher kind of jumped

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on it.

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And basically, that's where I started the framework of exploring more in depth what the significance

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of BitBonds would be, not necessarily through a 21 angle, but more from what could it be

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if the treasury houses it inside at some point.

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Ultimately, what would that structure look like?

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Started kind of playing around with the idea of a sovereign monetary flywheel

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or a sovereign flywheel throughout the summer.

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And that's when certain interviews came out,

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like Tucker Carlson with Richard Werner.

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And that added a whole other layer.

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Then we had the stablecoin bill come out.

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Right. And we started getting a little more insights into what that structure was going to look like, you know, that they were going to be investable for, I think, inside 93 to 80 bills.

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Right. You start overlaying what the set's looking to do by basically moving duration to the front end.

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And you still see that we have fiscal dominance. You also understand that we have this build up that has to happen three to two to three trillion dollars is going to have to happen for AI.

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And you see a lot of demand coming to the front end. Right. So at which point that started adding a whole nother layer into formating the kind of sovereign flywheel to which then an idea was populated based off of Richard Werner's work by Dr. Pippa Malgram.

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and she basically positioned the Stablecoin Act as a workaround by the Treasury of the Fed.

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So in her argument, she was stating that effectively by issuing a stablecoin that's fully reserved,

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it moves the individual ahead of the banks kind of in the, the ladder,

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the waterfall effect in case something goes wrong.

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Um, which I thought was a really interesting concept.

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Um, so that's cut.

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That was kind of, I waited a while for that all to kind of start taking shape.

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And then I think I had a pretty good basis for which I could really start

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working on this piece and theory and kind of push into the,

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the sovereign flywheel mechanical aspect, because again, going back to what I was saying earlier,

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I'm trying to spend a lot of time thinking about what the transition could be and what those levers

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would be. Um, and that's once I had the concept out around stable coins, right. And putting the

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dollar on digital rails and being able to essentially push it out across the world,

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from a digital standpoint,

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kind of drive follow the dollars brand basically The fact that it kind of the king fayette versus all other fayettes throughout the geopolitical landscape

328
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And the fact that you can get around capital controls, essentially, because now that you

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00:30:50,005 --> 00:30:53,545
have StarLinks or other systems, it becomes easier.

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They can stop a good portion of it, but they can't stop it all, right?

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Technology will always find a way.

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00:30:59,245 --> 00:31:06,745
um you know i started this whole framework that basically the fact that you have a digital dollar

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and you have the technology to transport it to every mobile phone on the in the entire world

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you're taking it from a macro to a micro from a liquidity standpoint and there's power in that

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and what essentially does that um end up like supporting well kind of supports the idea of uh

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00:31:28,725 --> 00:31:37,005
a euro dollar 2.0 almost right or a petro dollar 2.0 right um but what is that skid

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00:31:37,005 --> 00:31:46,965
it basically oils the skids for um a whole digital asset ecosystem right because it's it's it limits

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once you have the stable coin in place right basically the friction between stable coins and

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Bitcoin almost becomes minute. So it's, it's, it's easy to go back and forth. And then I started

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kind of putting the framework together is if you look at the administration between the SBR,

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and more importantly, around the investments around the Trump family that's making in

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00:32:09,945 --> 00:32:20,165
into this ecosystem. And some of the actions with the SEC, especially around this ecosystem,

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And I think it's not just campaign promises.

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I think it's strategic in nature, right?

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So at least that's from the lens I'm looking at it from.

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So when you start viewing it as the administration's making inroads into this, you have strategic alignments with companies around an innovator like Jack Mahler's, but you have basically Cantor, right?

347
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And Cantor itself is highly integrated into this ecosystem.

348
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You have Tether, right, which is basically the base layer right now, liquidity layer for kind of the digital ecosystem.

349
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And basically you have SoftBank, which is basically funded our entire technology infrastructure via the carry trade for the last 20 years.

350
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Right. And they also have their own systemic kind of demographic and debt issues.

351
00:33:15,625 --> 00:33:25,565
Right. You can start formulating an idea of how does it all come together and what could that mechanism be?

352
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And that's basically where I threw in the next idea.

353
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Right. Which was, all right, you have the stable coins and you have the liquidity layer.

354
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And then you have Bitcoin as the neutral reserve asset.

355
00:33:42,165 --> 00:33:46,185
Luke Gorman talks a lot about neutral reserve assets and how important they are.

356
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And ultimately, that's what the next monetary system is going to be based off of.

357
00:33:51,885 --> 00:33:55,445
Right. And you could argue that the East is moving more towards gold.

358
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Right. And there's a lot of reasons for that.

359
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But it looks certainly looks like the West is moving more towards a digital sound money to kind of grease the tracks here, per se.

360
00:34:07,705 --> 00:34:18,085
Yeah. So once we got, once I got that concept together, I then kind of looked for how do we,

361
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because Bitcoin seems to have a lot of positive feedback loops from a monetary perspective.

362
00:34:24,485 --> 00:34:30,785
It also has a lot of ethical feedback loops, but we needed to figure out a way to connect the

363
00:34:30,785 --> 00:34:37,605
asset side, the SBR side of the balance sheet to the debt, right? And bit bonds were the perfect

364
00:34:37,605 --> 00:34:43,245
transition point basically to help feed that whole system and then you can start a positive feedback

365
00:34:43,245 --> 00:34:51,545
loop basically using the stable coins as liquidity right and one of the important framings also was

366
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the fact that the idea that at some point they're going to front load the front end and ultimately

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00:34:59,505 --> 00:35:05,505
it looks like they're heading towards yield curve control and stable coins are an easy outlet for

368
00:35:05,505 --> 00:35:07,325
method for them to do that.

369
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We're a couple

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00:35:09,685 --> 00:35:11,165
months away from,

371
00:35:12,125 --> 00:35:12,745
in my opinion,

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the administration

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00:35:15,705 --> 00:35:18,025
is going to basically

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kind of neuter the Fed.

375
00:35:19,945 --> 00:35:21,965
And when that

376
00:35:21,965 --> 00:35:24,165
happens, this transition will be a hell of a

377
00:35:24,165 --> 00:35:24,585
lot easier.

378
00:35:24,845 --> 00:35:28,245
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404
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I was going to say, because we backed Andrew in battery finance from 1031 years ago.

405
00:37:01,625 --> 00:37:13,205
And I think the thing you're talking about, like BitBonds and the macro level, but at the micro level, too, it's one thing that we sort of recognized many years ago.

406
00:37:13,885 --> 00:37:27,305
When we first backed battery is that you have this ability to manufacture the soft landing that Janet Yellen and many others talked about years ago, but via Bitcoin in structured credit.

407
00:37:27,305 --> 00:37:56,305
And so the example of battery, you have Bitcoin sitting in a structure with another asset, typically real estate, and sort of de-risk that credit structure because you're not as worried about the debasement of the currency and your fixed income not being worth much because it's going to be compensated for in the value creation that Bitcoin recognizes.

408
00:37:57,305 --> 00:38:00,005
over the course and the duration of that loan.

409
00:38:00,145 --> 00:38:03,825
So you sort of have the de-risking of this private credit product.

410
00:38:03,925 --> 00:38:06,705
And I think what you're describing is the mechanisms

411
00:38:06,705 --> 00:38:09,065
of how it will work at the federal level.

412
00:38:10,745 --> 00:38:10,865
Yeah.

413
00:38:12,005 --> 00:38:15,805
So what happens?

414
00:38:17,985 --> 00:38:22,065
The critical point that I came up,

415
00:38:23,405 --> 00:38:24,545
I finally ended up,

416
00:38:24,545 --> 00:38:28,025
was the fact that by putting the neutral reserve asset

417
00:38:28,025 --> 00:38:32,885
that's backed by absolute scarcity on the balance sheet

418
00:38:32,885 --> 00:38:39,685
and then harnessing the volatility of that asset

419
00:38:39,685 --> 00:38:43,765
to help restructure the debt through bit bonds, right?

420
00:38:44,985 --> 00:38:46,905
Through volatility harvesting,

421
00:38:47,245 --> 00:38:53,205
ultimately causes this self-reinforcing, right?

422
00:38:53,205 --> 00:39:01,225
Because the important part is when I was going through it with AI and the revolution, what is Saylor's issue?

423
00:39:01,365 --> 00:39:16,465
Saylor's issue right now, at least the arguments that were being made, was it was he's basically using the ATM ultimately to basically pay the interest on his preferreds, right?

424
00:39:16,505 --> 00:39:19,705
Whether you call that an issue or not, I mean, there's a perception there.

425
00:39:19,705 --> 00:39:26,925
um i think he gave a great answer two weeks ago as to what his solution was for that but

426
00:39:26,925 --> 00:39:32,885
it got me thinking like what happens the u.s government doesn't have that issue because

427
00:39:32,885 --> 00:39:38,525
the bit bonds are going to be u.s denominated right so ultimately you could essentially

428
00:39:38,525 --> 00:39:46,325
print the coupon um for the bitcoin volatility the monetization of the bitcoin volatility

429
00:39:46,325 --> 00:39:56,505
associated with the BitBonds and basically keep the Bitcoin permanently in the strategic reserve.

430
00:39:57,465 --> 00:40:00,965
And once you do that and you continue to restructure,

431
00:40:01,085 --> 00:40:07,485
now granted over time the market is probably going to require some sort of Bitcoin kind of payout.

432
00:40:07,485 --> 00:40:34,525
But until that moment happens, you basically can start this engine that allows you to basically start really ramping up by using the scarcity of the Bitcoin on the SVR and basically locking the Bitcoin away forever at an infinite duration.

433
00:40:34,525 --> 00:40:37,165
because you'd never have to monetize.

434
00:40:37,845 --> 00:40:42,745
Now, I think there's going to be other structures that come up

435
00:40:42,745 --> 00:40:44,145
similar to what you're talking about.

436
00:40:45,645 --> 00:40:48,065
I think if the U.S. government would ever single,

437
00:40:48,225 --> 00:40:51,585
even if they did it through kind of a 21 as a pilot program,

438
00:40:52,325 --> 00:40:53,905
that this is potentially happening,

439
00:40:54,265 --> 00:40:58,205
it signals that Bitcoin's essentially pristine collateral, right?

440
00:40:58,205 --> 00:41:00,385
And once that perception happens,

441
00:41:00,385 --> 00:41:07,465
you know there's going to be a rush to basically structure bitcoin and harvest its volatility in

442
00:41:07,465 --> 00:41:16,305
every um conceivable method that wall street has just because you're basically rebasing um

443
00:41:16,305 --> 00:41:21,065
from the u.s government's perspective you're rebasing its faillate liabilities

444
00:41:21,065 --> 00:41:26,185
against absolute scarcity right while keeping the

445
00:41:26,185 --> 00:41:34,905
the scarce asset on your balance sheet, right? In a bubble that works well for the US government,

446
00:41:34,905 --> 00:41:39,385
but imagine when Wall Street with the deepest capital market starts doing the same thing

447
00:41:39,385 --> 00:41:46,065
and structuring it into portfolio products or structuring a corporate debt or structuring it

448
00:41:46,065 --> 00:41:50,145
with real estate, similar to what you've been talking about or what Grant Cardone's talking

449
00:41:50,145 --> 00:41:57,205
about, right, at these increasingly longer durations, it becomes a superpower, right?

450
00:41:57,305 --> 00:42:01,585
Like that's when we hit essentially kind of a reflexive equilibrium.

451
00:42:03,225 --> 00:42:05,245
Yeah, that second portion of the S curve.

452
00:42:05,245 --> 00:42:11,305
And I think it comes with when the mindset shifts with investors and the general pop,

453
00:42:11,405 --> 00:42:19,765
right, or Wall Street, that this is a, you know, superior collateral, pristine collateral

454
00:42:19,765 --> 00:42:21,385
that the world's ever seen, right?

455
00:42:21,825 --> 00:42:23,985
And I was listening to Peter Dunbar's talk last night

456
00:42:23,985 --> 00:42:26,385
on the What Bitcoin Did podcast,

457
00:42:26,565 --> 00:42:29,445
and he had a segment in there about bit bonds.

458
00:42:30,665 --> 00:42:32,605
And he kind of opened it up,

459
00:42:32,885 --> 00:42:34,045
and I like the framing of it.

460
00:42:34,065 --> 00:42:36,085
He's like, the world doesn't have a debt problem.

461
00:42:36,565 --> 00:42:37,745
We have a collateral problem.

462
00:42:38,525 --> 00:42:40,905
And that point resonates

463
00:42:40,905 --> 00:42:43,265
because it makes a lot of sense, right?

464
00:42:43,505 --> 00:42:46,265
Going back to the vibrations and the distortions,

465
00:42:47,765 --> 00:42:49,725
you know, it's an inflationary system.

466
00:42:49,765 --> 00:42:50,705
It's run by debt.

467
00:42:51,425 --> 00:42:53,605
You know, we need to find base layer collateral.

468
00:42:54,245 --> 00:43:01,685
And whether that's gold or Bitcoin, and ultimately Bitcoin will win because it beats gold on every single one of its characteristics, right?

469
00:43:02,285 --> 00:43:03,525
It's just a matter of time.

470
00:43:03,625 --> 00:43:05,085
And in my opinion, Bitcoin's already won.

471
00:43:06,345 --> 00:43:16,225
It's just how do we leverage it and use it against this absolute scarcity to make, to kind of realign incentives across society?

472
00:43:17,225 --> 00:43:17,705
Yeah.

473
00:43:17,705 --> 00:43:20,545
To your point about the reflexive tipping point,

474
00:43:21,445 --> 00:43:22,645
I think what Taylor's doing,

475
00:43:23,425 --> 00:43:25,045
if BIP bonds ever get out the door,

476
00:43:25,105 --> 00:43:26,005
obviously you mentioned 21.

477
00:43:26,465 --> 00:43:28,285
We're at the very beginning stages.

478
00:43:28,825 --> 00:43:31,985
And to your point about, it's very clear.

479
00:43:32,385 --> 00:43:35,385
It went from implicit to explicit over the course of this year.

480
00:43:35,645 --> 00:43:40,145
The Trump administration basically wants to neuter the Fed

481
00:43:40,145 --> 00:43:41,245
and bring everything in-house.

482
00:43:41,245 --> 00:43:46,145
To the Treasury, I think that in and of itself

483
00:43:46,145 --> 00:43:46,965
will have,

484
00:43:47,845 --> 00:43:49,765
will set a reflexive tipping point

485
00:43:49,765 --> 00:43:51,065
because you're like,

486
00:43:51,125 --> 00:43:51,885
who owns the Fed,

487
00:43:51,985 --> 00:43:53,465
the commercial banks, right?

488
00:43:53,545 --> 00:43:55,005
And you're sort of cutting them

489
00:43:55,005 --> 00:43:56,505
out of the situation

490
00:43:56,505 --> 00:43:57,425
and they're going to have

491
00:43:57,425 --> 00:43:59,645
a sink or swim moment

492
00:43:59,645 --> 00:44:00,745
where they're almost forced

493
00:44:00,745 --> 00:44:02,605
to adopt similar strategies,

494
00:44:02,865 --> 00:44:03,845
begin using Bitcoin

495
00:44:03,845 --> 00:44:04,725
as pristine collateral.

496
00:44:06,865 --> 00:44:08,105
I don't think many people

497
00:44:08,105 --> 00:44:09,505
are factoring that in.

498
00:44:10,065 --> 00:44:10,905
I don't think many people

499
00:44:10,905 --> 00:44:11,605
are ready for that.

500
00:44:11,845 --> 00:44:13,565
But if you look

501
00:44:13,565 --> 00:44:14,745
from a regulatory perspective,

502
00:44:14,985 --> 00:44:15,885
it's certainly where we're heading.

503
00:44:16,145 --> 00:44:21,765
Right. You look at the comments that JP Morgan put out right yesterday, the day before.

504
00:44:22,265 --> 00:44:26,445
Like. The market's waking up to this. It's the wave is coming.

505
00:44:28,125 --> 00:44:35,205
It's just how fast once it gets here, what's the exponentiality associated with it?

506
00:44:35,205 --> 00:44:42,385
And I think we're going to have ups and downs. I do believe the cycle theory is dead.

507
00:44:42,385 --> 00:44:54,405
And I think that the market, especially if some of these ideas that we're kind of exploring come to fruition, it is the end game for the inflationary monetary system.

508
00:44:55,405 --> 00:45:04,185
And it has to be because the debt-based system can't operate in a deflationary world that's driven by AI.

509
00:45:04,185 --> 00:45:05,525
Right. So.

510
00:45:12,385 --> 00:45:30,525
Yeah, the important part, if you looked at the monetary flywheel, the sovereign flywheel, is the structure of a BitBond is, you know, I think you posted something about negative yielding debt.

511
00:45:30,525 --> 00:45:34,805
And, you know, I think that you posted something yesterday about that.

512
00:45:35,585 --> 00:45:46,365
And what big bonds do or any type, anytime you want to incorporate Bitcoin, because all you're doing is you're harvesting the volatility of its annual cager, right?

513
00:45:46,445 --> 00:45:52,325
Into a debt structure and you're attaching it to a fayette debt structure, right?

514
00:45:52,925 --> 00:46:06,498
And you trying to realign the incentives right That all we doing is in the case of a bit bond the u government can borrow one or two percent right and it the investor gets basically the principal protection

515
00:46:06,498 --> 00:46:11,538
plus their one or two percent and over the life of the duration whatever that is say it's a 10 year

516
00:46:12,098 --> 00:46:22,498
you know and you're at a 35 kager say it's a 20 80 split and um between bid and bitcoin and say

517
00:46:22,498 --> 00:46:27,457
that the split with the US government's a 50-50, right? You're looking at an incentive anywhere

518
00:46:27,457 --> 00:46:36,378
15 to 18% tax-free back, right? To the investor at the end, right? So now you're starting to get

519
00:46:36,378 --> 00:46:43,818
real returns back. So the government can basically get its one or 2% borrowing rate,

520
00:46:43,818 --> 00:46:49,438
But the investor can get its 15% to 18% return.

521
00:46:50,198 --> 00:46:52,378
And that's why I think it's important.

522
00:46:52,578 --> 00:46:58,318
And DarkSide's discussed this a couple of times about how the cost of money is significantly higher.

523
00:46:58,418 --> 00:47:01,677
You alluded to it earlier, right, where it should be from a society standpoint.

524
00:47:01,677 --> 00:47:25,718
So I think the way we need to look at this is if you look at Bitbond and Bitcoin as transitionary tools, it's going to help society basically converge to whatever that natural cost of money is over time as Bitcoin's volatility on a CAGR perspective decreases as it gets more integrated into society.

525
00:47:25,718 --> 00:47:32,657
Right. So ultimately, I think the cost of money should be 10 percent.

526
00:47:32,657 --> 00:47:41,738
Right. Or higher. But how do we get there and how do we ease society into achieving that without ripping itself apart?

527
00:47:41,738 --> 00:47:55,218
Right. And I think the mechanisms or ideas behind BitBonds or the Bitcoin harvest volatility harvesting mechanisms is a great way for us to do that.

528
00:47:55,218 --> 00:47:59,278
Right. Again, rebasing debt against absolute scarcity.

529
00:48:00,177 --> 00:48:02,718
Well, let's let's dive into that a bit more.

530
00:48:02,878 --> 00:48:14,618
I mean, from a social cohesion perspective, you think this is one of the only paths to make sure that we get on the other side of this fourth turning, this inflection point, whatever you want to call it, with relatively.

531
00:48:16,318 --> 00:48:19,778
Relatively low conflict, kinetic conflict.

532
00:48:20,218 --> 00:48:22,677
From my perspective, yeah, I do.

533
00:48:22,677 --> 00:48:28,798
as to how it plays out into what variations,

534
00:48:29,238 --> 00:48:31,338
like how it's introduced into what variations.

535
00:48:31,698 --> 00:48:35,798
It doesn't have to be the way I've outlined it, right?

536
00:48:36,318 --> 00:48:38,258
Various people have various ideas about it,

537
00:48:38,258 --> 00:48:42,158
and I think it's generally directionally correct.

538
00:48:44,298 --> 00:48:48,038
You know, I received some feedback

539
00:48:48,038 --> 00:48:52,778
from Luke Gorman, right?

540
00:48:52,838 --> 00:48:56,438
And his feedback was, well, how does this work

541
00:48:56,438 --> 00:48:58,198
with the rest of the world, right?

542
00:48:58,198 --> 00:49:02,477
What stops this process from hyperinflating

543
00:49:02,477 --> 00:49:03,538
the dollar against Bitcoin?

544
00:49:04,418 --> 00:49:08,738
And my thought was, well, it's the speed

545
00:49:08,738 --> 00:49:09,878
at which you issue the BitBonds.

546
00:49:09,957 --> 00:49:11,298
You don't do it all at once, right?

547
00:49:11,358 --> 00:49:14,957
And then he came back with, how does this work

548
00:49:14,957 --> 00:49:19,218
basically with trade issues, right?

549
00:49:19,278 --> 00:49:22,278
Between China and the rest of the world

550
00:49:22,278 --> 00:49:25,578
where we're having deficits and surpluses, right?

551
00:49:25,598 --> 00:49:27,758
And we're on the wrong side of that, the coin there.

552
00:49:28,438 --> 00:49:31,858
And I can't necessarily answer that question.

553
00:49:33,318 --> 00:49:35,498
You know, it goes back to some of the thoughts

554
00:49:35,498 --> 00:49:38,338
and work that's been done by Dr. Pippa Malgram,

555
00:49:38,658 --> 00:49:40,998
which talks about the three pillars.

556
00:49:40,998 --> 00:49:44,158
And in her pillars, it's basically controlling the money,

557
00:49:44,158 --> 00:49:49,798
having technology and having control of kind of the power to your point that you said earlier

558
00:49:49,798 --> 00:49:59,658
and this is speculation on my part but i ultimately think that potentially the u.s government has

559
00:49:59,658 --> 00:50:07,658
superior um military advantage and i think there's probably stuff that we don't realize that they have

560
00:50:07,658 --> 00:50:13,158
um and one of my posts this week i was kind of feeling feisty i was joking

561
00:50:13,158 --> 00:50:20,898
you've discussed or throwing a toss back to independence day like you don't think a total

562
00:50:20,898 --> 00:50:25,098
seat costs twenty thousand dollars to you right and how many audits do we continue to fail

563
00:50:25,098 --> 00:50:32,158
um if that's the case well we know nuclear war is not an option because of

564
00:50:33,018 --> 00:50:41,358
um mutual assured destruction right but we have to work together um from an economic because

565
00:50:41,358 --> 00:50:45,218
demographics are bad, even with our trading partners, whether it's on the front end of the

566
00:50:45,218 --> 00:50:50,298
demographic curve or the back end, right? So everybody's kind of in this really crappy economic

567
00:50:50,298 --> 00:50:57,558
situation across the world. And people, of course, will argue with that. But I think there's incentive

568
00:50:57,558 --> 00:51:03,198
to work together. But even if there wasn't, and there was an issue with, from a kinetic standpoint,

569
00:51:03,198 --> 00:51:16,418
I do think that the U.S. has extra cards in its back pocket that basically could help keep the military or kinetic issues across the world at a minimum.

570
00:51:16,418 --> 00:51:25,918
And if that's the case, I think the give here is basically going back to the bifurcation of kind of the world, you know, East versus West.

571
00:51:26,118 --> 00:51:37,938
I think the U.S. is going to pull back and really focus at home, kind of retooling its supply chains here on the Western Hemisphere and let the East kind of handle itself.

572
00:51:37,938 --> 00:51:38,738
Right.

573
00:51:38,738 --> 00:51:49,378
So, again, that's kind of where I see it from a geopolitical economic.

574
00:51:49,778 --> 00:51:55,438
But as part of that, we're going to have to figure out how to kind of retool our monetary system.

575
00:51:55,698 --> 00:52:00,477
And Bitcoin and these volatility harming mechanisms are the only way that we can realign incentives.

576
00:52:00,477 --> 00:52:09,038
and I think that having that military might and economic kind of

577
00:52:09,038 --> 00:52:16,457
requirement to kind of work together because of demographics,

578
00:52:17,238 --> 00:52:19,318
everybody's going to basically play ball.

579
00:52:20,177 --> 00:52:24,438
So, and maybe that's just hopium on my part,

580
00:52:24,578 --> 00:52:27,477
but at least that's the framework I've been kind of working with lately.

581
00:52:27,477 --> 00:52:36,778
no i i completely i like to be i don't like the doom i like to be an optimist and especially when

582
00:52:36,778 --> 00:52:39,818
you consider the fact that we have the tools at our fingertips it just takes the will

583
00:52:39,818 --> 00:52:47,298
and the drive to actually pick them up and use them and if you view from that perspective things

584
00:52:47,298 --> 00:52:54,578
are actually incredibly optimistic and exciting because um you sort of have this opportunity to

585
00:52:54,578 --> 00:53:00,718
to rewire the global economy and that's uh that's a massive opportunity and i think that's when you

586
00:53:00,718 --> 00:53:06,398
position bitcoin i think that's something i could do better everybody could do better is really just

587
00:53:06,398 --> 00:53:15,018
painting that incredibly optimistic like we have an opportunity as a generation as people living on

588
00:53:15,018 --> 00:53:20,218
this planet this particular point in time to really change the trajectory of where our species

589
00:53:20,218 --> 00:53:21,498
goes along them.

590
00:53:22,338 --> 00:53:24,058
But it's how we realign the incentive structure

591
00:53:24,058 --> 00:53:25,638
to help us transition, right?

592
00:53:25,758 --> 00:53:30,218
And the incentives need to gradually

593
00:53:30,218 --> 00:53:34,138
come back to a market rate.

594
00:53:34,618 --> 00:53:36,998
And it really comes down to this

595
00:53:36,998 --> 00:53:39,138
basically structuring Bitcoin

596
00:53:39,138 --> 00:53:40,457
into a variety of different products

597
00:53:40,457 --> 00:53:41,378
that's going to get us there.

598
00:53:41,818 --> 00:53:43,038
Yeah, one being the sovereign debt.

599
00:53:43,698 --> 00:53:45,058
Well, I guess that's the question.

600
00:53:45,058 --> 00:53:49,858
Is it dependent on us doing that?

601
00:53:49,858 --> 00:53:56,318
Or is that almost inevitable because more and more people are realizing that Bitcoin is just a natural hurdle rate?

602
00:53:56,938 --> 00:54:00,418
And I think it's an acceleration mechanism.

603
00:54:01,598 --> 00:54:04,078
Right. Like we could use it.

604
00:54:04,318 --> 00:54:07,518
Ultimately, Bitcoin is going to win and we're going to end up in that system.

605
00:54:09,378 --> 00:54:14,378
Naturally, individuals and governments are going to gravitate towards it and it'll fix it over time.

606
00:54:14,378 --> 00:54:23,318
Right. Or we could use a system that I kind of outlined in the paper that basically would help accelerate it. Right.

607
00:54:23,938 --> 00:54:32,098
Question is, what are the the fractures, the vibrations are becoming more violent and more frequent?

608
00:54:32,598 --> 00:54:35,158
So how much time do we actually have?

609
00:54:35,818 --> 00:54:42,457
How much time do we actually have before the deflationary forces of AI and its impact on labor?

610
00:54:42,457 --> 00:54:48,658
right not just um blue collar which is still down the road with robotics and the embodiment of ai

611
00:54:48,658 --> 00:54:56,338
but more so with um with white collars what we're currently seeing or you know college entrance

612
00:54:56,338 --> 00:55:01,058
basically getting decimated and not being able to find work because productivity is increasing

613
00:55:01,058 --> 00:55:06,658
kind of the mid to upper level management levels so they don't need that backfill um i think

614
00:55:06,658 --> 00:55:13,957
yeah if we have 20 30 years bitcoin's going to do it i don't know if we have that much time

615
00:55:13,957 --> 00:55:20,038
because of the vibrations and you know where ai is going to put us in the next five to ten years

616
00:55:20,038 --> 00:55:24,518
would be my counter argument so what would

617
00:55:24,518 --> 00:55:31,918
what would you tell individuals listening to this like how can they help accelerate what should or

618
00:55:31,918 --> 00:55:38,718
how should they position themselves to prepare for either path the path where we decide to

619
00:55:38,718 --> 00:55:46,198
actually accelerate or we strategically mess up and or don't recognize the gravity of the situation

620
00:55:46,198 --> 00:55:55,518
go full bore the beauty of this the beauty is you know and i put bitcoin in two distinct categories

621
00:55:55,518 --> 00:56:01,318
right it's one for the sovereign individual bring sovereignty back to the individual so just buy

622
00:56:01,318 --> 00:56:07,678
bitcoin that's all you have to do in either path right and then the the second um is potentially

623
00:56:07,678 --> 00:56:13,758
my framing which is it can be used as a tool to kind of transition us into the next system right

624
00:56:13,758 --> 00:56:21,618
um so in either situation it's it's just going to be as an individual just buy bitcoin right now as

625
00:56:21,618 --> 00:56:27,877
to whether i'm hopeful that the u.s government is to me this is the ideas that i have is something

626
00:56:27,877 --> 00:56:34,818
that Saylor would have done kind of in his sleep over a weekend, basically playing with AI,

627
00:56:35,598 --> 00:56:40,598
he could have figured all this out. And I'm hopeful that maybe the US government has

628
00:56:40,598 --> 00:56:46,538
this type of plan or functionality or thought process in play. And if you read the tea leaves,

629
00:56:46,598 --> 00:56:53,598
it certainly looks like it could, not saying it's still highly speculative. But if they don't,

630
00:56:53,598 --> 00:56:59,938
you know they haven't been thinking from this standpoint it's either this or some variation of

631
00:56:59,938 --> 00:57:07,398
this um notwithstanding any considerations you have to take into the global geoeconomic political

632
00:57:07,398 --> 00:57:16,278
trade um type of thought processes um that could be leveraged at some point to to help again realign

633
00:57:16,278 --> 00:57:24,218
of centers across the board. So, you know, one last thing is I was talking at a conference call

634
00:57:24,218 --> 00:57:29,198
with Jeff Booth just to kind of talk through it at a high level. And at the end of it,

635
00:57:29,278 --> 00:57:32,898
there was another idea I've been kind of playing with a little bit is what if,

636
00:57:35,038 --> 00:57:40,598
because Jeff's commented multiple times, like it's very difficult for humans to look through

637
00:57:40,598 --> 00:57:47,698
a paradigm shift and see what it looks like on the other side or be able to understand the changes,

638
00:57:48,358 --> 00:57:55,118
right? What if Bitcoin, going back to that whole tool idea, right? Where it's a tool to help us

639
00:57:55,118 --> 00:58:02,438
realign incentives to get through a transition. What if going, you know, we talked earlier about

640
00:58:02,438 --> 00:58:07,918
Bitcoin having monetary feedback loops. And I alluded to that it also has ethical feedback loops,

641
00:58:07,918 --> 00:58:15,738
right it's a system built on trust and transparency so what if ultimately bitcoin was established not

642
00:58:15,738 --> 00:58:24,538
only to give us a base layer for the sovereign individual but to to also infiltrate governments

643
00:58:24,538 --> 00:58:32,118
and the broken incentive truck structures than our our own governments to start bringing trust

644
00:58:32,118 --> 00:58:37,018
back to governments and realigning their incentives from serving themselves to serving the people

645
00:58:37,018 --> 00:58:45,018
right and ultimately if governments do use bitcoin um in a method that i i've described

646
00:58:45,018 --> 00:58:51,918
you know they're going to have a large pile of bitcoin right so what if once we get through this

647
00:58:51,918 --> 00:58:57,338
and we go into kind of an age of abundance where basically all marginal costs are driven to zero

648
00:58:57,338 --> 00:59:05,178
because of ai and advancements in ai um where we value things differently not from a monetary

649
00:59:05,178 --> 00:59:12,698
perspective, but the true value comes in trust. What if Bitcoin realigns, reordinated society

650
00:59:12,698 --> 00:59:19,377
around trust? And that's its true value. And when you get to a world of AI, the monetary value is

651
00:59:19,377 --> 00:59:26,438
basically, there's no need for it anymore. And Karen, that's definitely opium and speculation,

652
00:59:26,438 --> 00:59:33,998
but I think it's a different framework to start looking at or explore is basically the end game

653
00:59:33,998 --> 00:59:42,018
It might not be the monetary value that Bitcoin holds, but the fact that it reinstitutes and re-injects trust into society, right?

654
00:59:42,038 --> 00:59:44,898
So that we can live freely in an age of abundance.

655
00:59:46,558 --> 00:59:47,038
Yeah.

656
00:59:47,358 --> 00:59:49,798
I don't think they're mutually exclusive either, right?

657
00:59:50,298 --> 00:59:50,498
Yeah.

658
00:59:51,258 --> 00:59:55,258
I mean, Bitcoin has been described as this trust machine, right?

659
00:59:55,678 --> 01:00:03,477
I remember, I haven't described it this way in a while, but when I was first getting into Bitcoin and trying to explain it to people,

660
01:00:03,477 --> 01:00:08,457
like going back to like the original form of accounting where people would have to go to like

661
01:00:08,457 --> 01:00:12,477
town square and somebody would literally have the ledger and you'd go with your trading partner

662
01:00:12,477 --> 01:00:19,658
being like okay he's giving me apples move money from my point in the ledger to his like you can

663
01:00:19,658 --> 01:00:23,858
view bitcoin is just like this massive beam of light that anybody can just like anchor into and

664
01:00:23,858 --> 01:00:29,938
know that it actually like you just have complete faith in it you can trust it because you know the

665
01:00:29,938 --> 01:00:36,798
consensus rules are open source and the incentives of the system are such that it's really hard to

666
01:00:36,798 --> 01:00:44,498
corrupt and just being able to trust that um that monetary system which is the most important tool

667
01:00:44,498 --> 01:00:51,198
that we use in money um you naturally have those second third order ripple effects throughout

668
01:00:51,198 --> 01:00:54,977
not only economy but interpersonal relationships and stuff like that

669
01:00:54,977 --> 01:01:01,977
It's fascinating.

670
01:01:01,977 --> 01:01:05,977
That's the frustrating thing.

671
01:01:05,977 --> 01:01:08,977
Some I've been in Bitcoin for over a decade now.

672
01:01:08,977 --> 01:01:10,977
It's like, how do other people not realize this?

673
01:01:10,977 --> 01:01:18,338
And to your point about Jeff Booth's comments about most people not being able to recognize that they're going through a paradigm.

674
01:01:18,384 --> 01:01:23,784
shift not only not recognize it but not understanding how to operate while we're going

675
01:01:23,784 --> 01:01:29,224
through it um it's frustrating then obviously you have like the cultural culture war stuff

676
01:01:29,224 --> 01:01:38,744
it seems like um the spectrum of political volatility is uh as wide as it's ever been

677
01:01:38,744 --> 01:01:44,064
hitting from all angles whether it's um whether it's uh

678
01:01:44,064 --> 01:01:48,644
like Israel, Palestine, Ukraine, Russia,

679
01:01:49,444 --> 01:01:51,864
trans stuff here in the country, guns rights.

680
01:01:52,124 --> 01:01:54,124
Like it just seems like their racial division,

681
01:01:54,284 --> 01:01:55,824
they're hitting it from all angles right now.

682
01:01:57,164 --> 01:02:00,244
Yeah. And I remain hopeful.

683
01:02:00,464 --> 01:02:04,024
I know you interviewed Jordi Visser over the summer, correct?

684
01:02:05,384 --> 01:02:06,944
I remember I was up at,

685
01:02:07,184 --> 01:02:09,904
I got a date of myself and I went to Gettysburg and I was just kind of

686
01:02:09,904 --> 01:02:12,024
walking around listening. And,

687
01:02:12,024 --> 01:02:16,244
your framing of how you did

688
01:02:16,244 --> 01:02:19,744
Jordy spends a lot of time

689
01:02:19,744 --> 01:02:22,544
I mean he's a big Bitcoin proponent

690
01:02:22,544 --> 01:02:27,684
but he's also very focused on AI and the transition

691
01:02:27,684 --> 01:02:30,964
right so and what that's going to look like

692
01:02:30,964 --> 01:02:35,064
and I loved your framing you know and I wrote a piece that

693
01:02:35,064 --> 01:02:39,004
basically at the end it was kind of more of a manuscript for my son

694
01:02:39,004 --> 01:02:41,124
and for how I want to kind of raise him

695
01:02:41,124 --> 01:02:46,004
and you guys towards the end of your discussion were talking about framing of what it looks like

696
01:02:46,004 --> 01:02:53,184
over the next five, 10, 20 years, bringing us from today kind of into the age of abundance.

697
01:02:53,184 --> 01:02:59,744
Right. And that I'd be honest with you, that was kind of a, uh, a cornerstone for,

698
01:02:59,744 --> 01:03:05,944
for why I wrote the piece and got me thinking. So I appreciate that. Um, it was inspiration

699
01:03:05,944 --> 01:03:10,344
and it just, the world's going to change.

700
01:03:10,704 --> 01:03:12,164
There's nothing we can do about it

701
01:03:12,164 --> 01:03:14,144
and nobody's prepared for it, right?

702
01:03:16,324 --> 01:03:18,044
If you go out and ask most people,

703
01:03:18,364 --> 01:03:21,524
you know, what type of system we operate in

704
01:03:21,524 --> 01:03:22,864
being an inflationary one, right?

705
01:03:23,204 --> 01:03:25,164
Nobody can really explain or realize

706
01:03:25,164 --> 01:03:26,144
that there's a counter argument

707
01:03:26,144 --> 01:03:28,464
that there's also deflationary forces, right?

708
01:03:28,824 --> 01:03:30,464
I mean, everybody's heard a little bit about,

709
01:03:30,964 --> 01:03:33,084
you know, the price of a TV goes down over time, right?

710
01:03:33,084 --> 01:03:35,804
But nobody structurally understands why.

711
01:03:35,944 --> 01:03:46,884
And that's, it shows you the degradation of society where we've, we're no longer teaching our kids what's important and how the world actually works.

712
01:03:47,024 --> 01:03:53,104
You know, we're so stuck on these dopamine hits that are related to our phones or the next TikTok.

713
01:03:53,724 --> 01:03:53,904
Right.

714
01:03:54,004 --> 01:03:56,904
And I have a 16 year old as well.

715
01:03:56,984 --> 01:04:05,864
And, you know, it's, it's definitely been an eyeopening experience and watching her go through her teenage years and see what she values versus what we valued growing up.

716
01:04:05,944 --> 01:04:14,904
yeah no i mean it's something i've got wow three three under six right now and

717
01:04:14,904 --> 01:04:24,244
it is crazy to think like my oldest he's in kindergarten he's aware he knows what bitcoin

718
01:04:24,244 --> 01:04:30,364
is he had the bitcoin wallet and he's starting to ask those those questions like the last year

719
01:04:30,364 --> 01:04:34,144
it's been like questions in the car it's like oh wow you're beginning to think about this stuff

720
01:04:34,144 --> 01:04:40,124
Like, how do we approach this? And we have in not only that, but like, how do we?

721
01:04:41,344 --> 01:04:46,824
How do we make sure that you don't go insane in this in this world as you're you were born?

722
01:04:47,024 --> 01:04:59,104
If the covid baby was born in early 2020, like literally born in the middle of what I would seem to be one of the most massive inflection points and points of awakening.

723
01:04:59,104 --> 01:05:05,904
like COVID, I think it was actually the silver lining of COVID was how many people sort of shook

724
01:05:05,904 --> 01:05:11,264
awake in the sense of, uh, in the sense of like, Hey, something's really wrong here.

725
01:05:11,324 --> 01:05:14,664
They're the opposite to like, it was, it was the silver lining. It woke up a bunch of people,

726
01:05:14,664 --> 01:05:21,524
but it also, um, sent, uh, another portion of the population down the road of doubling down

727
01:05:21,524 --> 01:05:22,184
on the insanity.

728
01:05:23,224 --> 01:05:23,924
And I think...

729
01:05:23,924 --> 01:05:26,144
It certainly woke me up.

730
01:05:27,544 --> 01:05:29,224
I mean, my entry came in 2020.

731
01:05:29,984 --> 01:05:33,264
So, and it was right in the midst

732
01:05:33,264 --> 01:05:35,004
of when gold started breaking down

733
01:05:35,004 --> 01:05:36,544
right before Bitcoin started rising.

734
01:05:36,924 --> 01:05:40,744
I think my orange pill was actually

735
01:05:40,744 --> 01:05:42,364
Breedlove's letter to Ray Dalio

736
01:05:42,364 --> 01:05:44,684
where he outlined the properties

737
01:05:44,684 --> 01:05:46,284
as to why you should invest in Bitcoin

738
01:05:46,284 --> 01:05:48,464
based upon Dalio's book, Principles.

739
01:05:48,464 --> 01:05:54,664
So, and that, that was the, uh, the moment I started my journey, right.

740
01:05:54,684 --> 01:05:56,224
And it has not stopped.

741
01:05:56,304 --> 01:05:58,424
It just continues to get deeper and deeper.

742
01:05:58,424 --> 01:06:02,724
And then you add in the secondary layers of what the convergence of AI means.

743
01:06:02,924 --> 01:06:08,264
And, um, you know, we're standing in a very interesting moment in history.

744
01:06:08,984 --> 01:06:14,304
And, um, I think this is going to be remembered and talked about for generations to come.

745
01:06:14,704 --> 01:06:15,184
Yeah.

746
01:06:15,184 --> 01:06:20,844
Yeah, maybe we'll even be able to talk about it for generations because we'll be able to live to 250.

747
01:06:22,944 --> 01:06:23,304
Potentially.

748
01:06:23,864 --> 01:06:29,344
I mean, there's a thought process that our children might not die, right?

749
01:06:29,524 --> 01:06:32,984
Like, it's medical, right?

750
01:06:33,304 --> 01:06:34,624
It's physiological.

751
01:06:34,964 --> 01:06:36,804
You can solve for that, potentially.

752
01:06:37,204 --> 01:06:39,244
Now, I don't want to get into the ethical issues around that,

753
01:06:39,244 --> 01:06:45,584
But there's a potential that our kids could live as long as they want, you know, God forbid, an accident.

754
01:06:46,724 --> 01:06:51,884
We might be able to solve for that, which would be interesting, which is an interesting theory to have.

755
01:06:52,524 --> 01:06:52,964
Right.

756
01:06:55,024 --> 01:06:59,004
It has a whole bunch of other second order effects and issues with that.

757
01:06:59,144 --> 01:06:59,344
But.

758
01:07:00,844 --> 01:07:04,764
But to your point, living to 280, why do you have why is it just 280?

759
01:07:05,064 --> 01:07:05,344
Right.

760
01:07:05,344 --> 01:07:13,924
um that could be go off of some of the other thought leaders in the space you know we're

761
01:07:13,924 --> 01:07:19,264
ultimately converged with with machines i don't know if i want to go that far but not impossible

762
01:07:19,264 --> 01:07:32,589
no i don want to get the chip either i don want to become a borg a cyborg but uh i think the community appreciates you just the way you are I know I certainly do Thank you It

763
01:07:32,709 --> 01:07:32,989
uh,

764
01:07:34,049 --> 01:07:34,529
that is,

765
01:07:34,649 --> 01:07:35,009
uh,

766
01:07:35,189 --> 01:07:37,189
I've said it on the podcast recently too.

767
01:07:37,249 --> 01:07:39,329
It's like equally unnerving and exhilarating.

768
01:07:39,649 --> 01:07:40,009
Um,

769
01:07:41,049 --> 01:07:44,029
I think the unknown is greater than it's ever been.

770
01:07:44,429 --> 01:07:44,829
Um,

771
01:07:45,369 --> 01:07:48,409
but the opportunity on the flip side of that,

772
01:07:48,409 --> 01:07:51,269
the opportunity is greater than it's ever been too.

773
01:07:51,269 --> 01:07:55,329
that's uh that was like the last thing i was going to say like i think

774
01:07:55,329 --> 01:08:02,169
part of my focus and goal is because you do have these competing forces um

775
01:08:02,169 --> 01:08:08,769
particularly from the political spectrum of like people that want to go over like democratic

776
01:08:08,769 --> 01:08:15,249
socialists they say but i saw ramdani it was on the vo he's like i'm not a communist i'm a

777
01:08:15,249 --> 01:08:20,209
democratic socialist it's like you're a communist you're just a step before communism um

778
01:08:20,209 --> 01:08:46,649
And so we have, there's a very large portion of the world that wants to go down that direction and tried that failed experiment once again. And then you have people like us who are like, I think, have appropriately recognized that central authority has corrupted everything and we need to get back to emergent properties and distributed decentralized markets.

779
01:08:46,649 --> 01:08:48,309
And I think that could fix it.

780
01:08:48,809 --> 01:08:57,809
I think that's going to be speaking of like spreading the needle with BitBonds and recognizing Bitcoin is pristine collateral at the federal level.

781
01:08:57,929 --> 01:09:08,129
I think socially, too, that's going to be a sort of critical decision point or turn at some point in the next five years where it's like, no, we're free market.

782
01:09:09,229 --> 01:09:14,349
We're going to the free market direction, not this democratic socialist communist direction.

783
01:09:15,169 --> 01:09:16,369
Yeah, no, I agree.

784
01:09:16,369 --> 01:09:26,369
And Preston Pistis argued that it needs to be like a BitBond needs to be kind of a bottom-up approach.

785
01:09:28,369 --> 01:09:30,149
And I disagree.

786
01:09:30,649 --> 01:09:33,009
Bitcoin's been a bottom-up approach, right?

787
01:09:33,109 --> 01:09:40,749
It's grown nothing to 123, you know, in 13, 14 years.

788
01:09:40,749 --> 01:10:02,349
So I think it's come to the point where in order to turgeon horse a system that's been hyper financialized, that it's going to take strong leadership to realize what the asset class is and has to be a top down approach from my perspective.

789
01:10:02,349 --> 01:10:09,409
and once it is a top-down approach because you might have some different thoughts on that um i

790
01:10:09,409 --> 01:10:16,929
believe the asset as stances and the network and the protocol is completely capable um of taking on

791
01:10:16,929 --> 01:10:23,909
immense um value basically being added to it i don't think it's i think it's capable of doing it

792
01:10:23,909 --> 01:10:37,189
now. If you hold that thesis, then Bitcoin's ready for prime time. And I think administration

793
01:10:37,189 --> 01:10:44,309
or government that realizes its value prop and understands what the asset is, especially

794
01:10:44,309 --> 01:10:53,789
backed by the absolute undeniable transparency and scarcity, will establish that it's percine

795
01:10:53,789 --> 01:11:01,469
collateral and once they do that it doesn't stop like it's game over yeah i have no

796
01:11:01,469 --> 01:11:10,369
my perspective is is like it's all good okay do it don't wait on any other actor to do it just do

797
01:11:10,369 --> 01:11:15,029
it so again that's why we back battery it's like let's not wait for the government to issue bit

798
01:11:15,029 --> 01:11:21,949
bombs they should but yeah let's get something in the private market so that they can pave the way

799
01:11:21,949 --> 01:11:23,889
like, hey, this works in a private credit structure.

800
01:11:24,209 --> 01:11:25,909
Like, you can apply it to this.

801
01:11:25,969 --> 01:11:27,369
You can definitely apply it to a PIP bond.

802
01:11:27,609 --> 01:11:34,369
And, yeah, I think the most important thing is just develop the agency,

803
01:11:34,689 --> 01:11:38,869
the will, and the drive to do what you can do with what's at your fingertips

804
01:11:38,869 --> 01:11:43,269
and hope that you're successful, number one,

805
01:11:43,329 --> 01:11:45,569
and then number two, that success sort of inspires others

806
01:11:45,569 --> 01:11:47,989
to bring it into what they're doing.

807
01:11:47,989 --> 01:11:59,269
yeah i completely agree and with battery or with what grant cardone's doing right i think um there's

808
01:11:59,269 --> 01:12:07,349
going to be a lot of a lot of solid examples that um will help provide some guidance to the powers

809
01:12:07,349 --> 01:12:12,689
to be to help them feel more comfortable you know in the coming years to kind of move forward with

810
01:12:12,689 --> 01:12:14,369
some of these ideas around BitBonds.

811
01:12:15,069 --> 01:12:15,389
So, yeah.

812
01:12:16,529 --> 01:12:20,589
No, and I know that they're very solid Bitcoiners,

813
01:12:20,589 --> 01:12:23,629
well-placed throughout the administration.

814
01:12:24,269 --> 01:12:25,389
I've talked to them,

815
01:12:25,729 --> 01:12:30,749
and to the extent that they have ultimate influence

816
01:12:30,749 --> 01:12:32,509
over decisions, I don't think it's,

817
01:12:33,509 --> 01:12:36,289
they obviously don't have ultimate say,

818
01:12:36,389 --> 01:12:38,569
but I think the seeds are being planted,

819
01:12:38,849 --> 01:12:40,069
the right seeds are being planted.

820
01:12:40,069 --> 01:12:51,869
If you, maybe it's just pie in the sky, but if you take the concept I had about 21, one of the original thoughts, you kind of play it out.

821
01:12:53,049 --> 01:13:03,269
Not only does it potentially bypass congressional approval and basically establish kind of a pilot program, but it's proof of concept, right?

822
01:13:03,269 --> 01:13:07,069
because if you go out and you deal with $100 billion or $200 billion,

823
01:13:07,629 --> 01:13:13,669
which is small in comparison to the U.S. government debt,

824
01:13:14,129 --> 01:13:20,869
then ultimately what happens when Congress on either side of the aisle starts to see that,

825
01:13:20,869 --> 01:13:23,189
hey, we might actually be able to borrow 1%, 2%.

826
01:13:23,189 --> 01:13:28,529
This could actually solve our debt issues or financing issues.

827
01:13:29,069 --> 01:13:43,574
Not only that this gives us the mechanism to move front maturities or duration to the long end right You know say there a hiccup with because there a lot of people including Infra

828
01:13:44,114 --> 01:13:47,014
when I spent a lot of time in spaces in Bitcoin today,

829
01:13:49,074 --> 01:13:52,054
where it looks like we're heading towards yield curve control.

830
01:13:52,054 --> 01:13:55,934
It certainly looks like stable coins could provide the treasury,

831
01:13:56,074 --> 01:14:01,394
that mechanism, especially if the Fed has been minimized in its power

832
01:14:01,394 --> 01:14:12,334
in scope, then, you know, if you're not doing it with yield curve control, at some point

833
01:14:12,334 --> 01:14:13,814
you're going to need to move duration.

834
01:14:14,774 --> 01:14:20,974
And this is going to give the perfect cover mechanism to basically move it out further

835
01:14:20,974 --> 01:14:23,234
on the yield curve from where it's currently standing.

836
01:14:24,094 --> 01:14:31,374
And, but I think it's important that the pilot program itself be established because if

837
01:14:31,374 --> 01:14:38,334
you need to have the pilot in order to get congressional or political buy-in from both sides of the aisle.

838
01:14:38,854 --> 01:14:41,414
Again, going back to incentive alignment, right?

839
01:14:41,694 --> 01:14:49,134
Even this simple concept, when it's put out in the wild and it starts to show how it operates,

840
01:14:49,214 --> 01:14:52,054
it aligns incentives even across political aisles, right?

841
01:14:52,054 --> 01:14:59,314
And you've done a lot of work and the community's done a lot of work on talking to Congress on both sides

842
01:14:59,314 --> 01:15:03,254
to basically state what this asset is

843
01:15:03,254 --> 01:15:07,914
and bring everybody to the center to understand it, right?

844
01:15:08,414 --> 01:15:12,834
Well, BIP bonds are basically a monetary structural proof

845
01:15:12,834 --> 01:15:15,514
as well of that, right?

846
01:15:15,754 --> 01:15:20,394
That ultimately, I think, again,

847
01:15:20,594 --> 01:15:23,054
the pilot program with the S21 or somebody else

848
01:15:23,054 --> 01:15:29,114
will give us the...

849
01:15:29,314 --> 01:15:31,314
Give us the examples and the results that we need.

850
01:15:32,294 --> 01:15:33,974
Yeah, I completely agree.

851
01:15:34,894 --> 01:15:38,114
It was like, it's all happening right now.

852
01:15:38,734 --> 01:15:39,774
It's all going according to the plan.

853
01:15:39,774 --> 01:15:43,154
We're running towards 124 right now, 123, 720.

854
01:15:44,354 --> 01:15:46,454
And it's funny.

855
01:15:46,734 --> 01:15:50,534
I think this year was interesting.

856
01:15:50,654 --> 01:15:53,814
I was actually talking about it this week at the 1031 retreat that we're on.

857
01:15:53,814 --> 01:16:01,134
this year reminds me a lot of like 2015 2016 where people were completely unable to recognize

858
01:16:01,134 --> 01:16:07,194
i'm just looking at the chart now we hit a low of 76 000 in april during the

859
01:16:07,194 --> 01:16:14,814
air of tantrum but yep we've been hovering in the 100 to 115 range for like six months now and it's

860
01:16:14,814 --> 01:16:22,274
like that is if you would have told me that in 2017 then 2025 is where we'd be hanging out i'd

861
01:16:22,274 --> 01:16:28,794
be like oh good bitcoin succeeding many people uh feels like we're being dragged through the mud and

862
01:16:28,794 --> 01:16:35,794
tortured in the same time that's that's one thing too like bitcoin is uh

863
01:16:35,794 --> 01:16:41,454
she will humble you because that's that's the way it works she'll bore you to death and then

864
01:16:41,454 --> 01:16:49,154
she'll rip like she is today and then uh people can't can't stomach that uh that the the boring

865
01:16:49,154 --> 01:16:54,574
periods and it makes sense because you once you see it you understand like oh this should be a 200

866
01:16:54,574 --> 01:17:00,634
300 500 trillion dollar market uh it's only at two and a half trillion right now like why isn't this

867
01:17:00,634 --> 01:17:07,454
priced it and i think it's the nature of just human nature like people move at their own pace

868
01:17:07,454 --> 01:17:16,714
it's uh yeah i put out uh something quick earlier this week just talking about being bitcoin based

869
01:17:16,714 --> 01:17:17,974
and what that represents.

870
01:17:18,154 --> 01:17:20,994
And it plays on the terms humility, right?

871
01:17:21,014 --> 01:17:24,834
Because it forces you, Bitcoin forces you.

872
01:17:25,594 --> 01:17:27,894
Not only is it a lens to look at the world

873
01:17:27,894 --> 01:17:31,954
and actually call it bullshit for what it is, right?

874
01:17:31,954 --> 01:17:34,294
And actually say, if this is real, this is not.

875
01:17:34,834 --> 01:17:38,034
When you understand what Bitcoin is

876
01:17:38,034 --> 01:17:40,794
and just the incentive alignment,

877
01:17:41,194 --> 01:17:43,334
the Bitcoin, the ethical feedback loops.

878
01:17:43,454 --> 01:17:44,714
But then when you look at the rest of the world

879
01:17:44,714 --> 01:17:45,414
through that lens,

880
01:17:45,414 --> 01:17:54,534
You can see how distorted the broken money system has created it, created whether that's politics or Wall Street and kind of their ongoing.

881
01:17:55,414 --> 01:18:02,474
But that whole process of looking at the world through a Bitcoin lens is a process in humility.

882
01:18:02,474 --> 01:18:09,714
right you really have to question everything you've been told your entire life and take a step back

883
01:18:09,714 --> 01:18:18,034
and realize that not necessarily a lie it's just how society's been misaligned right with a certain

884
01:18:18,034 --> 01:18:24,814
belief system and to see that belief system break down and to swallow your pride first off to explore

885
01:18:24,814 --> 01:18:31,414
what this asset is but then once you start to really dive deep into seeing how it can change

886
01:18:31,414 --> 01:18:40,734
things. Um, yeah, it's, it's a humiliated, it's a lesson humiliation, but it, it also like a

887
01:18:40,734 --> 01:18:47,594
Phoenix allows you to kind of, to rise up and think clearly. And, um, it reestablishes the

888
01:18:47,594 --> 01:18:56,654
thought of Jordy Visser talks about it, you know, sense of childish curiosity. Um, but also fosters

889
01:18:56,654 --> 01:19:04,254
critical thinking right yeah no it is i mean another phrase of you is creative destruction

890
01:19:04,254 --> 01:19:07,974
like your creative destruction is like a concept we learned in business school that you're supposed

891
01:19:07,974 --> 01:19:15,774
to embrace and many people uh most people don't start businesses and so i guess you can argue that

892
01:19:15,774 --> 01:19:22,074
most people don't recognize that or intuit it but um no i think that's the hardest part for most

893
01:19:22,074 --> 01:19:27,554
people. Luckily, I was very young and impressionable and somewhat radicalized by the great financial

894
01:19:27,554 --> 01:19:33,334
crisis when I found Bitcoin. So I was almost immediately receptive to it. But most people

895
01:19:33,334 --> 01:19:52,139
have a very hard time admitting that they were duped by the authority figures in their lives in many different contexts and aspects And everybody likes to think that they are standing on solid ground

896
01:19:52,139 --> 01:19:58,139
and have the ability to perceive the world in reality in a way

897
01:19:58,139 --> 01:20:02,179
that gives them some degree of certainty.

898
01:20:02,179 --> 01:20:07,979
And once you find Bitcoin and begin recognizing everywhere

899
01:20:07,979 --> 01:20:10,139
throughout the system where things are corrupted

900
01:20:10,139 --> 01:20:11,119
and you've been lied to.

901
01:20:11,279 --> 01:20:13,359
It's hard to hold your hand up and say,

902
01:20:13,439 --> 01:20:15,519
yeah, I've been duped for decades.

903
01:20:17,019 --> 01:20:23,019
To a point, like, humility is the most critical attribute

904
01:20:23,019 --> 01:20:26,439
to have when sitting down and looking at Bitcoin.

905
01:20:29,819 --> 01:20:31,159
I think we need more of it.

906
01:20:31,759 --> 01:20:33,599
Yeah, certainly do.

907
01:20:34,119 --> 01:20:37,419
I think society is going to get its dose of it in short order.

908
01:20:37,979 --> 01:20:42,139
But hopefully it's an easier pill to swallow than it could be.

909
01:20:42,779 --> 01:20:43,079
Because it could.

910
01:20:44,299 --> 01:20:47,839
And the quicker you get to that point, the better off your life is going to be in the long run.

911
01:20:48,019 --> 01:20:58,999
So anybody out there is skeptical and thinking that we're completely insane talking about not only Bitcoin, but the integration of Bitcoin into bond issuance.

912
01:20:59,259 --> 01:21:04,779
Like, maybe just eat a slice of humble pie and recognize.

913
01:21:04,779 --> 01:21:08,999
And that's the other thing we were talking about this week on this retreat.

914
01:21:09,219 --> 01:21:13,339
It's like, how many times does Bitcoin have to completely prove you wrong?

915
01:21:15,719 --> 01:21:20,059
For you to reckon like we're at $124,000 almost.

916
01:21:20,619 --> 01:21:21,639
It's not dead.

917
01:21:22,399 --> 01:21:26,499
Yes, at very volatile periods, but it's been up and to the right consistently.

918
01:21:27,279 --> 01:21:29,419
For 16, almost 17 years now.

919
01:21:29,419 --> 01:21:32,519
It's the best performing asset for the last 17 years.

920
01:21:32,519 --> 01:21:35,619
and how long is that going to continue to happen

921
01:21:35,619 --> 01:21:37,819
before people wake up and say,

922
01:21:37,879 --> 01:21:38,739
ah, maybe I was wrong.

923
01:21:40,559 --> 01:21:43,019
It's tough to look in the mirror for a lot of people.

924
01:21:44,039 --> 01:21:50,499
And that's part of the humiliation process, right?

925
01:21:50,599 --> 01:21:52,919
But a lot of people do not adjust.

926
01:21:53,259 --> 01:21:54,379
They adjust when they're told.

927
01:21:58,619 --> 01:21:59,719
This has been awesome, Marilyn.

928
01:21:59,899 --> 01:22:00,779
Thank you for doing this.

929
01:22:00,779 --> 01:22:06,059
the notes uh thanks martin sorry i kind of ramble sometimes so i get lost in thought but

930
01:22:06,059 --> 01:22:10,939
um i think you get the drift of my direction and quite so when i'm trying to

931
01:22:10,939 --> 01:22:15,519
torture that yeah for all the government officials listening out there consider it

932
01:22:15,519 --> 01:22:19,719
we need to accelerate i know i know there are many of you out there are dozens of you out there

933
01:22:19,719 --> 01:22:26,479
to listen to the show um so light a fire under scott pacin's ass and the trump administration

934
01:22:26,479 --> 01:22:29,239
and tell them to focus in on this.

935
01:22:29,239 --> 01:22:35,619
Because again, I think if you're thinking about manufacturing a soft landing

936
01:22:35,619 --> 01:22:42,099
that results in as little social turbulence,

937
01:22:42,459 --> 01:22:48,359
if you want to minimize social turbulence for the next 5, 10 years,

938
01:22:48,739 --> 01:22:52,279
you need to create a way to manufacture a soft landing.

939
01:22:52,279 --> 01:22:59,459
people access and exposure to the most pristine collateral, the best asset that's ever existed.

940
01:23:02,579 --> 01:23:07,419
Yeah. And it's, it's important that we stop duct taping. And to your point,

941
01:23:07,519 --> 01:23:12,899
we actually start providing real solutions for the people, right. And following through.

942
01:23:13,459 --> 01:23:19,719
Yeah. So start thinking outside the box. And, uh, that's one thing we're good as a community,

943
01:23:19,719 --> 01:23:22,239
is thinking outside the box.

944
01:23:23,439 --> 01:23:24,519
Creative destruction.

945
01:23:25,379 --> 01:23:25,899
The government

946
01:23:25,899 --> 01:23:28,519
participating in creative destruction

947
01:23:28,519 --> 01:23:30,479
of the

948
01:23:30,479 --> 01:23:32,399
monetary and debt system that they've

949
01:23:32,399 --> 01:23:33,499
erected.

950
01:23:34,219 --> 01:23:35,019
That's an idea.

951
01:23:35,539 --> 01:23:36,479
It's the only way out.

952
01:23:38,819 --> 01:23:39,799
This is awesome.

953
01:23:39,799 --> 01:23:42,039
Where should we

954
01:23:42,039 --> 01:23:43,279
send people who are interested to learn

955
01:23:43,279 --> 01:23:45,739
more about your thoughts and

956
01:23:45,739 --> 01:23:48,119
what you're writing about?

957
01:23:48,119 --> 01:23:55,299
see the subs. Yeah, I'm pretty active on X, so you can find me there under Maryland HODL or

958
01:23:55,299 --> 01:24:04,079
Maryland or HODL Maryland, I think is actually the surname. And then in my bio, there'll be a

959
01:24:04,079 --> 01:24:10,779
link to my subsack. I pretty much put things out on both platforms. So you just follow me,

960
01:24:10,779 --> 01:24:15,559
you'll see the information. All right. We will link both of those in the show notes.

961
01:24:15,559 --> 01:24:17,699
I hope you have a great weekend.

962
01:24:17,859 --> 01:24:19,419
Hopefully you too, sir.

963
01:24:19,759 --> 01:24:22,119
We can do this at some point in the future as things progress.

964
01:24:22,679 --> 01:24:23,259
Yeah, absolutely.

965
01:24:23,339 --> 01:24:24,199
Look forward to it.

966
01:24:24,859 --> 01:24:29,679
Again, I just want to say thank you for all of your efforts and contributions to the community.

967
01:24:30,819 --> 01:24:38,619
You've certainly been instrumental kind of in developing my foundation over the last couple of years as I've really dip into the space.

968
01:24:39,119 --> 01:24:41,379
So, well, we're all in it together.

969
01:24:41,879 --> 01:24:42,339
Yes, sir.

970
01:24:43,479 --> 01:24:45,259
Through a common bond.

971
01:24:45,559 --> 01:24:46,719
Yes. Truth.

972
01:24:47,339 --> 01:24:49,479
We're going to win. We're going to win as we like to.

973
01:24:49,999 --> 01:24:50,859
Yes, we are.

974
01:24:51,299 --> 01:24:52,859
All right. Peace and love, freaks.

975
01:24:53,179 --> 01:24:55,819
Thank you for listening to this episode of TFTC.

976
01:24:56,259 --> 01:24:59,859
If you've made it this far, I imagine you got some value out of the episode.

977
01:25:00,259 --> 01:25:04,239
If so, please share it far and wide with your friends and family.

978
01:25:04,319 --> 01:25:05,679
We're looking to get the word out there.

979
01:25:06,499 --> 01:25:10,499
Also, wherever you're listening, whether that's YouTube, Apple, Spotify,

980
01:25:11,339 --> 01:25:13,799
make sure you like and subscribe to the show.

981
01:25:13,799 --> 01:25:18,519
And if you can leave a rating on the podcasting platforms, that goes a long way.

982
01:25:19,059 --> 01:25:29,359
Last but not least, if you want to get these episodes a day early and ad free, make sure you download the Fountain podcasting app and go to fountain.fm to find that.

983
01:25:30,119 --> 01:25:33,859
Five dollars a month, get you every episode a day early, ad free.

984
01:25:34,659 --> 01:25:36,939
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985
01:25:37,579 --> 01:25:41,179
So please consider subscribing via Fountain as well.

986
01:25:41,179 --> 01:25:42,639
Thank you for your time

987
01:25:42,639 --> 01:25:44,079
And until next time

988
01:25:44,079 --> 01:25:44,799
Bye