1
00:00:00,000 --> 00:00:03,720
Yet another country is taking steps to make Bitcoin harder to use.

2
00:00:03,820 --> 00:00:06,500
This time it's South Africa, the largest economy in Africa.

3
00:00:06,820 --> 00:00:10,740
AI says, no, I'm sorry, you are not fit to drive and you won't be able to go anywhere.

4
00:00:10,740 --> 00:00:16,780
And now you've got peer-to-peer money, the torrents of money, the elixir of life for 8.3 billion people.

5
00:00:16,900 --> 00:00:19,220
Is that going to go away? Of course not.

6
00:00:19,220 --> 00:00:30,020
Yet another country is taking steps to make Bitcoin harder to use and opting out of future

7
00:00:30,020 --> 00:00:35,020
prosperity. This time it's South Africa, the largest economy in Africa. Will it work and

8
00:00:35,020 --> 00:00:39,960
what will be the fallout? Hey everyone, welcome to another episode of Bitcoin Banter. Today I am

9
00:00:39,960 --> 00:00:45,180
joined by Toni and making her banter debut is our very own Bitcoin Katie. Don't forget to stick

10
00:00:45,180 --> 00:00:50,640
around to the end to find out who our donkey of the week is. Katie, some wild news out of South

11
00:00:50,640 --> 00:00:55,120
Africa. I would love to hear your thoughts on what's going on. What do you think is going to

12
00:00:55,120 --> 00:01:00,140
happen with all of this? And if you want to fill in any of the details for guests who are joining us.

13
00:01:00,140 --> 00:01:08,300
Yeah, this is really crazy, crazy news. So South Africa, which is currently the largest

14
00:01:08,300 --> 00:01:14,180
African economy and has a population of 65 million people. So, you know, this is no small,

15
00:01:14,700 --> 00:01:22,940
insignificant country. And what they are about to vote on their parliament is some restrictions,

16
00:01:23,100 --> 00:01:27,940
or some restrictions, full restrictions on the ownership of crypto assets, obviously,

17
00:01:27,940 --> 00:01:33,340
including Bitcoin. What they want to do is they want to bring crypto assets into

18
00:01:33,340 --> 00:01:40,300
the current exchange controls legislation. They are explicit about the reason for that,

19
00:01:40,300 --> 00:01:46,960
and it is to stop cross-border flow. So of course, South Africa has had a big issue with

20
00:01:46,960 --> 00:01:54,980
basically hemorrhaging capital as capital flees the country. And that has been an issue since the

21
00:01:54,980 --> 00:02:01,220
days of apartheid, and that did not change under the ANC government. And what it will effectively

22
00:02:01,220 --> 00:02:10,240
mean for ordinary South Africans is that they will no longer be able to self-custody their Bitcoin.

23
00:02:11,100 --> 00:02:16,820
This will essentially become illegal. So if this passes, what they want people to do

24
00:02:16,820 --> 00:02:22,480
is to report their holdings within 30 days to the government. They will only be allowed to hold

25
00:02:22,480 --> 00:02:30,900
crypto assets with authorized crypto asset service providers, so CASPs. So authorized CASPs

26
00:02:30,900 --> 00:02:33,720
will be the only one who can hold your Bitcoin.

27
00:02:34,020 --> 00:02:37,340
And for those who do not comply with these new regulations,

28
00:02:38,240 --> 00:02:43,700
they could face, I think it's a fine of around about $60,000

29
00:02:43,700 --> 00:02:47,200
and up to five years in prison.

30
00:02:48,160 --> 00:02:52,940
So that would also mean the end of, well, they think it means

31
00:02:52,940 --> 00:02:54,940
the end of peer-to-peer transactions.

32
00:02:55,160 --> 00:02:56,040
You wouldn't be allowed to do that.

33
00:02:56,120 --> 00:03:00,080
You would need to seek permission to move any of your Bitcoin

34
00:03:00,080 --> 00:03:06,840
and authorized offices can compel people to hand over passwords,

35
00:03:07,000 --> 00:03:08,420
pins and private keys.

36
00:03:09,420 --> 00:03:12,980
And this will essentially turn ordinary South Africans

37
00:03:12,980 --> 00:03:14,780
into criminals overnight.

38
00:03:16,300 --> 00:03:18,360
So, yeah, it's nuts.

39
00:03:19,260 --> 00:03:19,380
Yeah.

40
00:03:19,780 --> 00:03:22,240
This is the funny thing, though, is, you know,

41
00:03:22,240 --> 00:03:25,620
what's the quote that you can't ban Bitcoin,

42
00:03:25,820 --> 00:03:27,460
but you can ban yourself from, you know,

43
00:03:27,460 --> 00:03:30,840
the benefits of Bitcoin is maybe a way of summarizing it.

44
00:03:31,360 --> 00:03:32,720
And we've seen this time and time again.

45
00:03:32,860 --> 00:03:34,820
I mean, how many times has China banned Bitcoin?

46
00:03:35,000 --> 00:03:36,280
And then they've reneged.

47
00:03:36,440 --> 00:03:38,760
We talked about it just in the last month,

48
00:03:38,860 --> 00:03:40,600
Pakistan unbanned Bitcoin.

49
00:03:40,980 --> 00:03:43,660
They had a 2018 ban that went into effect

50
00:03:43,660 --> 00:03:45,580
and recently said, okay, maybe not.

51
00:03:46,180 --> 00:03:47,740
And I think that coincided too

52
00:03:47,740 --> 00:03:49,800
with the Strait of Hormuz situation

53
00:03:49,800 --> 00:03:52,340
where the Iranian government was accepting

54
00:03:52,340 --> 00:03:53,920
or requiring Bitcoin payment

55
00:03:53,920 --> 00:03:56,020
because it's permissionless and censorship resistant.

56
00:03:56,020 --> 00:04:02,800
But Tony, what do you think the net effect of this proposed legislation is?

57
00:04:03,220 --> 00:04:07,120
Well, news like this makes me smile a lot, actually.

58
00:04:07,360 --> 00:04:07,820
You know what?

59
00:04:07,940 --> 00:04:11,460
Because it's so telling on so many fronts.

60
00:04:12,080 --> 00:04:19,400
For one, it is extremely bullish for Bitcoin that you have news like this coming out.

61
00:04:19,620 --> 00:04:20,920
Because what does it tell me?

62
00:04:20,920 --> 00:04:35,880
It tells me that the desperation of corrupt governments and individuals is reaching all-time highs and that they are literally running out of time and options and are hoping anything sticks.

63
00:04:36,560 --> 00:04:41,600
So the more extreme the headline is because the more petrified they are.

64
00:04:41,600 --> 00:04:51,120
And the power to make this go away is in the hands of the people, no matter where they are, whether it's South Africa or any other jurisdiction.

65
00:04:51,540 --> 00:05:06,380
If you understand Bitcoin, you understand that all these headlines you can throw in the garbage because they are completely meaningless and unenforceable unless you allow yourself to be influenced by this rubbish.

66
00:05:06,380 --> 00:05:09,020
Bitcoin is great for the separation of money and state.

67
00:05:09,020 --> 00:05:12,460
You cannot stop peer-to-peer transactions, right?

68
00:05:12,800 --> 00:05:17,560
They can say all they want, make it illegal all day and all night.

69
00:05:17,780 --> 00:05:18,980
They can't stop it.

70
00:05:19,660 --> 00:05:24,820
And so as long as folks understand this, hold on to self-custody, and perhaps even consider

71
00:05:24,820 --> 00:05:28,220
leaving, then nothing changes for them.

72
00:05:28,820 --> 00:05:36,160
But if you let yourself get influenced or scared by these news headlines, then yes, you will

73
00:05:36,160 --> 00:05:38,060
lose what is rightfully yours.

74
00:05:38,060 --> 00:05:56,700
What it also makes me happy about is that it casts an even shinier spotlight on the reality of these governments. These are criminal organizations. These are people who should be nowhere near anywhere making decisions for the people of their country.

75
00:05:56,700 --> 00:06:07,020
These people should be in jail or even worse, depending on the rap sheet that, you know, that they've built across their entire career as these corrupt politicians.

76
00:06:07,900 --> 00:06:15,500
Yes, you know, these headlines might piss off and scare folks who, you know, who perhaps don't understand all the nuances behind it.

77
00:06:15,920 --> 00:06:23,440
But at the end of the day, you know, the tighter the noose, the more effort is going to be put into finding ways around it.

78
00:06:23,440 --> 00:06:41,000
And at some point, all these people become irrelevant. We're seeing this happen across the globe. Bitcoin adoption is soaring. It's not going away. It's soaring so much that it's almost practically being labeled as a must have for national security.

79
00:06:41,860 --> 00:06:44,860
So ignore these headlines, ignore these people.

80
00:06:45,080 --> 00:06:46,460
That is the best thing you can do.

81
00:06:46,880 --> 00:06:51,980
And understand that as long as you know how to hold, manage, and protect your Bitcoin,

82
00:06:52,240 --> 00:06:54,780
no force in this universe can remove it away from you.

83
00:06:55,060 --> 00:06:56,400
I think that is the best way to frame it.

84
00:06:56,460 --> 00:06:59,480
That is the most important property, in my view, of Bitcoin.

85
00:06:59,680 --> 00:07:01,020
Nobody can take it away from you.

86
00:07:01,060 --> 00:07:04,300
It's the first time in human history that we have an asset like this.

87
00:07:04,560 --> 00:07:07,620
So for anyone living in South Africa, or if you're just paying attention,

88
00:07:07,740 --> 00:07:09,960
you see where the, you know, you want to skate where the puck is going,

89
00:07:10,260 --> 00:07:11,080
check out the link below.

90
00:07:11,240 --> 00:07:12,700
We have a Plan B residency program.

91
00:07:12,840 --> 00:07:14,260
You can get out, opt out of the madness,

92
00:07:14,380 --> 00:07:16,600
go to a place that honors and respects your freedom.

93
00:07:17,080 --> 00:07:18,080
I would love to talk with you.

94
00:07:18,120 --> 00:07:19,420
You can schedule a free 30-minute call.

95
00:07:19,520 --> 00:07:20,800
And of course, if you're enjoying the episode,

96
00:07:20,980 --> 00:07:22,220
smash the like button, subscribe.

97
00:07:22,380 --> 00:07:23,140
Make sure you're subscribed.

98
00:07:23,240 --> 00:07:24,320
A lot of our listeners aren't.

99
00:07:24,360 --> 00:07:25,340
We would love for you to do that.

100
00:07:25,780 --> 00:07:27,520
And guys, up next, we have...

101
00:07:27,520 --> 00:07:29,940
This is one that we've talked on and off

102
00:07:29,940 --> 00:07:32,380
over the last maybe 12 months about.

103
00:07:32,560 --> 00:07:33,880
But just in 2026,

104
00:07:34,120 --> 00:07:37,520
we've had 41 kidnappings in France of crypto owners

105
00:07:37,520 --> 00:07:40,260
because French authorities, tax officials,

106
00:07:40,460 --> 00:07:43,400
are being accused of selling the crypto owner's data.

107
00:07:43,640 --> 00:07:46,520
So, of course, we've been saying for a long time as well,

108
00:07:46,880 --> 00:07:48,760
it's not know your customer, it's kill your customer.

109
00:07:48,980 --> 00:07:54,080
And this is absolutely the predictable fallout of a situation

110
00:07:54,080 --> 00:07:56,620
where they demand people report holdings,

111
00:07:56,620 --> 00:08:00,200
they demand that anyone that you're buying your Bitcoin crypto from,

112
00:08:00,620 --> 00:08:04,620
they have to know who you are, where you live, everything about you.

113
00:08:04,620 --> 00:08:11,360
So, Tony, sad times to see, but again, predictable corruption by government officials.

114
00:08:11,820 --> 00:08:16,840
Another bullish piece of news because now it's not the criminals in South Africa.

115
00:08:17,000 --> 00:08:19,440
Now it's the criminals in the French government.

116
00:08:19,960 --> 00:08:22,380
It's all a global cartel, right?

117
00:08:22,460 --> 00:08:26,360
Like they're all part of that same corrupt team.

118
00:08:26,880 --> 00:08:28,480
It's just coming in different languages.

119
00:08:29,060 --> 00:08:43,078
So what the common denominator between all these headlines It fear That is the only narrative they have a chance in hell in succeeding with is by scaring people to comply So what are they doing in France

120
00:08:43,818 --> 00:08:47,778
They're being a little bit more creative here. So since they can't kill Bitcoin,

121
00:08:48,058 --> 00:08:55,058
what are they doing? They're endangering the lives of those they know holding it by selling it

122
00:08:55,058 --> 00:09:02,918
two criminals who are going to go out and commit God knows what heinous act on innocent folks.

123
00:09:03,418 --> 00:09:11,238
So they are using front men like they always do in order to scare people away from the one asset

124
00:09:11,238 --> 00:09:19,618
that was created to set them free and put the real criminals out of business. So again, it sucks for

125
00:09:19,618 --> 00:09:25,758
those that have to live through all of this, but understand that as a human being, the government

126
00:09:25,758 --> 00:09:31,458
doesn't dictate your rights to freedom. It's a God-given right. You have the right to protect

127
00:09:31,458 --> 00:09:39,418
it yourself by any means necessary if it's under threat, right? And so understand that Bitcoin

128
00:09:39,418 --> 00:09:45,338
cannot be taken away from you as long as you hold it to yourself. That is the fundamental fact,

129
00:09:45,338 --> 00:09:48,238
the key to winning at this game, right?

130
00:09:48,878 --> 00:09:51,758
And if the country that you're in is hostile,

131
00:09:52,398 --> 00:09:54,458
like, you know, seems to be in South Africa

132
00:09:54,458 --> 00:09:56,678
and of course, increasingly in France,

133
00:09:56,918 --> 00:10:01,858
then leave, pack up and go and get out of the way.

134
00:10:02,278 --> 00:10:05,518
Because unless you have an army bigger than theirs

135
00:10:05,518 --> 00:10:11,078
to take them on, the best strategy is really to exit.

136
00:10:11,738 --> 00:10:14,978
And so it's really sad to see that, you know,

137
00:10:14,978 --> 00:10:20,478
folks have to deal with this nonsense. But again, the silver lining here is that it's, you know,

138
00:10:20,478 --> 00:10:26,738
shining a very bright spotlight on all of these criminals. The world is watching, the world is

139
00:10:26,738 --> 00:10:31,358
paying attention. No one's going to forget this. And again, the more desperate they get, the more

140
00:10:31,358 --> 00:10:36,418
extreme their measures, and you know, the more they cement the message in the minds of anyone

141
00:10:36,418 --> 00:10:41,638
paying attention here. Yes, I think you nailed it, Tony. Katie, what's your take on all of this?

142
00:10:41,638 --> 00:11:07,058
Yeah, I mean, this is something that we've seen time and time again, and we will continue to see. And it's not just limited to, you know, something like taxpayer data. We also now have France wanting every single social media user to submit their ID and potentially hand over private messages by the end of this year.

143
00:11:07,058 --> 00:11:22,458
You know, what could possibly go wrong when you have a situation where your identity is being centralized in the hands of a government or an exchange or anything?

144
00:11:22,458 --> 00:11:26,498
There is always that risk, and it's probably going to happen.

145
00:11:26,598 --> 00:11:27,458
It's not just a risk.

146
00:11:27,578 --> 00:11:35,158
It's probably a certainty that your data is at one point or another going to be leaked.

147
00:11:36,398 --> 00:11:41,978
And then that could mean that your name, your address, your identity, everything is out there.

148
00:11:42,458 --> 00:11:50,938
I mean, I was in France late last year, and I was actually helping a friend move some Bitcoin from Coinbase to a hardware wallet.

149
00:11:50,938 --> 00:11:57,298
and I thought it was going to be an easy task and it was not because we ran into a problem

150
00:11:57,298 --> 00:12:03,838
because Coinbase, whenever you send Bitcoin to a self-custody address from Coinbase, at least

151
00:12:03,838 --> 00:12:11,978
Coinbase in France, you are required to do a facial scan. You are required to photograph your

152
00:12:11,978 --> 00:12:19,458
ID, in this case maybe a passport or an ID card, and that is then attached to your non-custodial

153
00:12:19,458 --> 00:12:24,778
address, your self-custody address. And that is the only way that Coinbase allows you to move

154
00:12:24,778 --> 00:12:31,098
your Bitcoin. So you can imagine now you've just KYC'd yourself, your self-custody address,

155
00:12:31,478 --> 00:12:37,558
you're revealing all kinds of information to anyone who cares to look. It's something that

156
00:12:37,558 --> 00:12:45,218
is going to be a problem in the future as governments and exchanges and everything is KYC'd,

157
00:12:45,218 --> 00:12:50,558
everything. And never mind the fact that these security controls that they have in place to

158
00:12:50,558 --> 00:12:55,918
authenticate you as a real human being are being infiltrated by AI weapons, basically,

159
00:12:56,118 --> 00:13:03,818
that they can mimic your voice. I mean, your identity is, if you're posting content on Twitter,

160
00:13:04,058 --> 00:13:09,198
if you've recorded something that someone can publicly pull, it's going to be easier and easier

161
00:13:09,198 --> 00:13:14,538
every day to replicate that. And for someone else to get into Coinbase, withdraw your funds,

162
00:13:14,538 --> 00:13:15,898
and you don't even know that they're gone.

163
00:13:16,218 --> 00:13:19,478
Today is the day to take self-custody of your Bitcoin.

164
00:13:19,778 --> 00:13:22,058
And that is what we do all day, every day.

165
00:13:22,238 --> 00:13:23,198
So I would encourage people,

166
00:13:23,498 --> 00:13:24,798
go check the link below as well.

167
00:13:24,878 --> 00:13:25,998
We can help you with self-custody.

168
00:13:26,318 --> 00:13:28,378
Katie and I were both clients of the Bitcoin way

169
00:13:28,378 --> 00:13:29,638
before we started working with the team.

170
00:13:29,838 --> 00:13:31,578
We have nothing but the most amazing things to say

171
00:13:31,578 --> 00:13:33,058
about the entire process.

172
00:13:33,698 --> 00:13:34,178
Alrighty, guys.

173
00:13:34,638 --> 00:13:37,438
Up next, we have just more chaos in the world.

174
00:13:37,438 --> 00:13:42,598
So India, they're testing their eRupee delivery.

175
00:13:42,978 --> 00:13:45,138
So they have 10 experiments across the country.

176
00:13:45,718 --> 00:13:49,678
And these are CBDCs used to deliver welfare payments more efficiently.

177
00:13:49,818 --> 00:13:50,998
So the way that they're framing this,

178
00:13:51,058 --> 00:13:54,318
they haven't really found the use case that is broadening adoption.

179
00:13:54,318 --> 00:13:58,218
But what they're going to say, I think, to make it compelling is,

180
00:13:58,738 --> 00:14:00,538
we can bring efficiency to the welfare system

181
00:14:00,538 --> 00:14:03,318
because we can restrict what people on welfare purchase,

182
00:14:03,498 --> 00:14:04,518
when they purchase it.

183
00:14:04,998 --> 00:14:06,678
And so they can't just buy anything they want.

184
00:14:06,758 --> 00:14:08,478
They have to make productive use of it or whatever.

185
00:14:08,558 --> 00:14:11,138
All these great reasons for a CBDC, of course.

186
00:14:11,138 --> 00:14:13,218
Like that's going to be the marketing behind it.

187
00:14:13,798 --> 00:14:16,058
And I think my personal opinion, obviously,

188
00:14:16,198 --> 00:14:17,978
is what it proves is it's just permissioned money.

189
00:14:18,578 --> 00:14:20,318
And right now, maybe it's welfare recipients

190
00:14:20,318 --> 00:14:22,718
and maybe you can make a strong justification for that.

191
00:14:22,818 --> 00:14:25,098
And then tomorrow, it's going to be everyone else.

192
00:14:25,538 --> 00:14:28,578
And then you can't buy XYZ, not at this time of day,

193
00:14:28,678 --> 00:14:30,898
not outside of your zip code or whatever,

194
00:14:31,018 --> 00:14:34,418
you know, whatever geographical locator information they use.

195
00:14:34,858 --> 00:14:37,158
But Tony, you've been calling this for a long time.

196
00:14:37,298 --> 00:14:39,678
Interestingly enough, it's not Tether

197
00:14:39,678 --> 00:14:40,838
that they seem to be using.

198
00:14:41,138 --> 00:14:44,118
But that's just going to be the one that probably the Western hemisphere uses.

199
00:14:44,538 --> 00:14:46,038
What's your take on India?

200
00:14:46,458 --> 00:14:47,858
Another bullish headline, man.

201
00:14:47,858 --> 00:14:53,038
Yet another corrupt government desperately trying to remain relevant.

202
00:14:53,718 --> 00:15:02,758
All of these accelerated projects towards central bank digital currencies are a direct response to the new sheriff in town, Bitcoin.

203
00:15:03,318 --> 00:15:10,558
The one force that is completely destroying their power, rendering them irrelevant and that they can't do anything about.

204
00:15:10,558 --> 00:15:17,298
so they build their own products hoping to feed off the ignorance of the masses or those who are

205
00:15:17,298 --> 00:15:25,558
literally unfortunately um are stuck with no other options but to adopt um this garbage but personally

206
00:15:25,558 --> 00:15:31,698
i think it'll fail they tried something similar in nigeria with the e-naira and despite the most

207
00:15:31,698 --> 00:15:38,438
extreme and heinous um threats that they put on their people that project failed spectacularly

208
00:15:38,438 --> 00:15:45,138
Nigerians, I think, have around 90 or 92% Bitcoin adoption. These people have never had a bank

209
00:15:45,138 --> 00:15:50,398
account or like very few of them have had a bank account, let alone savings because of, you know,

210
00:15:50,438 --> 00:15:56,978
the abusive governments that they've had to deal with up until 2009 or whenever, you know,

211
00:15:56,978 --> 00:16:04,238
they stumbled upon Bitcoin and watch them today. They are beyond amazing in terms of adoption,

212
00:16:04,238 --> 00:16:07,798
using it the way it was intended, as money, peer-to-peer money.

213
00:16:08,238 --> 00:16:10,098
They have their savings, they have their businesses,

214
00:16:10,318 --> 00:16:13,418
and there's nothing anyone can do about it, right?

215
00:16:13,798 --> 00:16:16,958
So this is yet another attempt by some government

216
00:16:16,958 --> 00:16:19,198
who thinks somehow they're smarter than the rest.

217
00:16:19,418 --> 00:16:22,958
But, you know, human nature was not meant to be, you know,

218
00:16:23,038 --> 00:16:24,418
enslaved and abused.

219
00:16:24,618 --> 00:16:28,078
I mean, you bully someone to a certain point,

220
00:16:28,118 --> 00:16:31,538
at some point you're going to get punched in the face and wrecked.

221
00:16:31,538 --> 00:16:33,998
Like no one takes bullying forever.

222
00:16:34,238 --> 00:16:40,518
I think this is, you know, where a lot of folks are going to draw the line and smart money has already left the building.

223
00:16:40,518 --> 00:16:48,078
it's just like those that are stuck in you know the the nine-to-five rat race who are not privy

224
00:16:48,078 --> 00:16:54,378
to messages like this to information like this and who literally genuinely sadly believe that

225
00:16:54,378 --> 00:17:01,438
they have no other option might be initially stuck into this until something goes wrong and

226
00:17:01,438 --> 00:17:16,636
even they will revolt and go out of their way to find a way out so we are living in you know very crazy historic times But again the time the window is still here but it closing extremely fast

227
00:17:17,236 --> 00:17:29,536
And I really hope more people figure this out and exit before they have to do so in a more, let's say, less civilized and more violent way.

228
00:17:29,536 --> 00:17:34,416
Because when all the doors and windows are shut, that is the only way out.

229
00:17:35,336 --> 00:17:35,476
Yeah.

230
00:17:35,616 --> 00:17:41,996
Let's hope that the Indian people are as rebellious and disagreeable as the Nigerians have been with their project.

231
00:17:42,156 --> 00:17:43,476
Katie, what's your take on all of this?

232
00:17:43,856 --> 00:17:44,076
Yeah.

233
00:17:44,156 --> 00:17:48,456
So they introduced this E-RUP back in about 2022.

234
00:17:49,836 --> 00:17:52,656
And like Tony mentioned, nobody wants it.

235
00:17:53,316 --> 00:17:54,236
Nobody's been using it.

236
00:17:54,316 --> 00:17:55,976
Adoption has been near zero.

237
00:17:56,716 --> 00:18:00,136
So I think what they're doing in this case,

238
00:18:00,136 --> 00:18:05,336
so they are explicit in the fact that they are looking

239
00:18:05,336 --> 00:18:09,136
for a use case for their CBDC.

240
00:18:09,936 --> 00:18:11,916
So it's almost like they had the CBDC.

241
00:18:12,476 --> 00:18:16,176
They didn't really have a good use case for it.

242
00:18:16,676 --> 00:18:19,676
It failed, and now they're trying to fill that gap

243
00:18:19,676 --> 00:18:20,956
by finding a use case.

244
00:18:21,076 --> 00:18:24,996
And in this case, it has been the distribution of welfare.

245
00:18:24,996 --> 00:18:33,196
And what they're doing is they're pushing this garbage onto their most vulnerable people.

246
00:18:34,096 --> 00:18:45,956
So they are using this to distribute welfare to poor farmers and also to people who need subsidies to purchase food.

247
00:18:45,956 --> 00:18:53,756
and they can only, they're programmed, so they can only spend these eRupees in the location that

248
00:18:53,756 --> 00:18:59,476
is specified by, you know, whatever it is they receive. So for example, the farmers can only

249
00:18:59,476 --> 00:19:06,116
spend it with certain suppliers and in the case of the subsidized food rations, they are only

250
00:19:06,116 --> 00:19:15,196
allowed to spend it at government food stores. So this is, I mean, this is already being used as a

251
00:19:15,196 --> 00:19:22,436
tool of overt control and they've just picked on the people that can't fight back the people who

252
00:19:22,436 --> 00:19:30,496
have no other option but to accept the e-rupees because the people in the people who are higher

253
00:19:30,496 --> 00:19:36,516
up in indian society because it's a it's a very hierarchical society they won't accept they will

254
00:19:36,516 --> 00:19:43,096
not accept these e-rupees so you start from the bottom bottom of the food chain that's what bullies

255
00:19:43,096 --> 00:19:48,336
always do, man. Bullies are cowards at heart. They are, you know, the ones that pick on the weak.

256
00:19:48,736 --> 00:19:54,116
That's how they win, because any other approach gets them obliterated. And this is exactly what

257
00:19:54,116 --> 00:19:58,516
we're seeing here. And it's not only, you know, going to happen in South Africa and India, it's

258
00:19:58,516 --> 00:20:03,256
going to happen in every country around the world, where, you know, those in a position to abuse

259
00:20:03,256 --> 00:20:09,336
will enjoy it, taking advantage of the weak, until the weak, you know, hopefully, collectively get

260
00:20:09,336 --> 00:20:14,876
together and put an end to this. Because again, the power has always been in their hands. They

261
00:20:14,876 --> 00:20:18,976
just have to get out of their own way, their own fear in order to do so.

262
00:20:19,476 --> 00:20:23,816
All righty, guys. Up next, we have some dystopian news. The Ford Motor Company.

263
00:20:25,196 --> 00:20:31,276
This is crazy. I mean, this is like next level state, public private surveillance at play.

264
00:20:31,276 --> 00:20:35,976
So they've filed a patent where your pickup truck becomes a rolling police station.

265
00:20:35,976 --> 00:20:58,256
And so here's some of the examples. So biometric checks. So from the comfort of your own driveway, your eyes will be scanned, that iris and fingerprint checked against the database of criminals. So obviously marketed as someone can't steal your vehicle out of your driveway. And then you have things like an emotional lockout. Okay, so if your vehicle senses that you're in panic mode, then you can't start it.

266
00:20:58,256 --> 00:21:08,956
So if you're like the example I think I gave yesterday in our live stream, Tony, was if you're a pregnant woman who's rushing to the hospital because it's time and you're in a panic mode, maybe you can't start your car.

267
00:21:09,236 --> 00:21:10,416
Pretty bad timing, right?

268
00:21:10,696 --> 00:21:15,856
Or if there's an emergency, your kid breaks his leg and you're trying to rush to the hospital, but your panic car doesn't start.

269
00:21:16,376 --> 00:21:24,996
And then, of course, the most fun thing here is that using acoustic waves to read your lips and display monitored conversations so they can target ads for maximum monetization.

270
00:21:24,996 --> 00:21:28,156
So this is, I mean, this is just insanity to me.

271
00:21:28,256 --> 00:21:32,896
And the marketing is going to be beautiful and 95% of people are going to completely fall for it.

272
00:21:33,296 --> 00:21:36,556
Tony, what do you think is, like, what do you expect when you see this?

273
00:21:36,616 --> 00:21:38,416
Besides high demand for used vehicles?

274
00:21:38,816 --> 00:21:39,896
Well, that's for sure.

275
00:21:41,016 --> 00:21:43,256
This is going to attract the idiots out there.

276
00:21:43,256 --> 00:21:49,956
Those who don't understand anything and think that being a digital donkey is a cool thing.

277
00:21:50,596 --> 00:21:54,396
But, of course, for those that are paying attention, none of this applies.

278
00:21:54,696 --> 00:21:57,796
Whether it's a CBDC or this dystopian nightmare.

279
00:21:57,796 --> 00:22:08,996
But again, this spotlights that right now we have a bunch of psychopaths who are getting very, very high on the idea of unlimited power.

280
00:22:09,756 --> 00:22:16,036
And now that AI exists, well, that's just taking their euphoria to a whole new level.

281
00:22:16,616 --> 00:22:19,976
And these are the products that are coming out of it.

282
00:22:19,976 --> 00:22:45,156
And so, yes, for anyone who has a clue, this will definitely push them towards old vintage cars. And it'll also give birth to all hackers of the world unite. Because for every action, there is a reaction. And since all of this comes from the tech world, things can be reversed engineered and undone.

283
00:22:45,156 --> 00:22:54,296
In fact, that market is usually a lot better, a lot smarter, a lot quicker, and a lot more efficient than those putting it out.

284
00:22:54,796 --> 00:22:58,796
They can put out claims that this is illegal and you're not allowed to do this.

285
00:22:59,316 --> 00:23:02,436
Smart people will just ignore it, like they've always done.

286
00:23:03,076 --> 00:23:07,556
Whether it came about with trying to make marijuana illegal.

287
00:23:08,376 --> 00:23:09,576
Has it gone? No.

288
00:23:09,796 --> 00:23:14,636
They tried to make the file sharing of music and movies and software illegal.

289
00:23:15,036 --> 00:23:15,936
Has that gone away?

290
00:23:16,616 --> 00:23:16,956
No.

291
00:23:17,476 --> 00:23:17,816
Why?

292
00:23:18,076 --> 00:23:19,456
Because it can't go away.

293
00:23:19,876 --> 00:23:20,456
That's why.

294
00:23:20,556 --> 00:23:25,576
And now you've got peer-to-peer money, the torrents of money, the elixir of life for 8.3

295
00:23:25,576 --> 00:23:26,236
billion people.

296
00:23:26,336 --> 00:23:27,276
Is that going to go away?

297
00:23:27,796 --> 00:23:28,636
Of course not.

298
00:23:29,056 --> 00:23:34,976
You've got AI, open source learning algorithms that are available to everybody.

299
00:23:35,316 --> 00:23:38,916
Sure, in the hands of a psychopath, it's going to look one way.

300
00:23:39,256 --> 00:23:43,196
But in the hands of someone with good intentions, it's going to look a completely different

301
00:23:43,196 --> 00:23:43,516
way.

302
00:23:43,516 --> 00:23:47,396
both of these worlds will exist at the same time.

303
00:23:47,396 --> 00:23:51,216
And you know, my bullishness is on the hope

304
00:23:51,216 --> 00:23:54,796
that there are more good people than bad out there.

305
00:23:54,796 --> 00:23:58,576
And eventually, you know, the free market will always decide

306
00:23:58,576 --> 00:24:01,436
and the winner is always the one with the best incentives.

307
00:24:01,436 --> 00:24:04,236
So yes, I mean, these headlines are like shocking to read.

308
00:24:04,236 --> 00:24:06,336
Like, oh my gosh, I can't believe they're doing this.

309
00:24:06,336 --> 00:24:08,376
But what did you expect?

310
00:24:08,376 --> 00:24:10,756
We are living in a digital world

311
00:24:10,756 --> 00:24:13,376
with super intelligent learning algorithms

312
00:24:13,516 --> 00:24:23,196
And a part of the world that's a bunch of psychopaths and another part of the world that just loves doing amazing things with this tech.

313
00:24:23,656 --> 00:24:26,536
And so they're all going to collide on this planet.

314
00:24:27,276 --> 00:24:31,736
And hopefully the good ones outperform the bad ones.

315
00:24:32,536 --> 00:24:33,656
Yes, absolutely.

316
00:24:33,976 --> 00:24:35,016
Katie, what would you add to that?

317
00:24:35,016 --> 00:24:57,736
This is not coincidental, but the federal government has recently, in the US, has recently introduced a law that requires the government to develop AI technology that could disable your vehicle without input if it detects if you are unfit to drive.

318
00:24:57,816 --> 00:25:03,876
So this is very similar to the Ford patent that you were mentioning before, Michael.

319
00:25:04,496 --> 00:25:10,756
So what that means is if it detects that you are impaired in any way, the AI algorithm,

320
00:25:10,896 --> 00:25:15,936
so that could be, you know, maybe you're drunk, maybe you're under the effects of drugs,

321
00:25:16,156 --> 00:25:20,876
maybe you're in a panic because something bad has happened, it will mean that you won't

322
00:25:20,876 --> 00:25:23,976
be able to drive, you won't be able to start your car or you won't be able to put it into

323
00:25:23,976 --> 00:25:24,216
gear.

324
00:25:25,216 --> 00:25:30,316
And of course, this is always done under the guise of safety, safety for everyone.

325
00:25:30,496 --> 00:25:31,756
You know, it's going to prevent accidents.

326
00:25:31,756 --> 00:25:33,436
It's going to prevent drunk drivers.

327
00:25:33,876 --> 00:25:57,534
It going to prevent people from driving when they under the influence of drugs Who is going to argue with that You know nobody wants drunk drivers on the road The problem is that they say it about safety but how is this ai tech going to differentiate between someone who is genuinely in a panic

328
00:25:57,534 --> 00:26:02,514
maybe there's been an accident maybe there is someone outside their car trying to hurt them

329
00:26:02,514 --> 00:26:07,994
and ai says no i'm sorry you are not fit to drive and you won't be able to go anywhere

330
00:26:07,994 --> 00:26:15,074
you know and and as you mentioned michael this is going to put a premium on old cars that don't

331
00:26:15,074 --> 00:26:20,494
that no longer have this technology i mean this kind of eye scanning technology is already present

332
00:26:20,494 --> 00:26:26,034
i believe is already present in quite a lot of cars here in the eu and at least where i live in

333
00:26:26,034 --> 00:26:31,314
in portugal these new chinese electric cars are becoming very popular because they are

334
00:26:31,314 --> 00:26:37,854
the ultimate in luxury they are crazy i mean these things will practically make you breakfast

335
00:26:37,854 --> 00:26:43,074
while you're driving. They're just insane. And I'm always, I'm very resistant. I call them

336
00:26:43,074 --> 00:26:48,134
Chinese spy cars. I'm like, no, I'm not having a Chinese spy car. I don't care how nice it is.

337
00:26:48,734 --> 00:26:55,134
You know, we have, we have a almost 20 year old Peugeot that we drive around in sometimes

338
00:26:55,134 --> 00:27:00,274
and a car like that. I mean, nobody wants a 20 year old Peugeot, but you know, maybe

339
00:27:00,274 --> 00:27:05,534
these are the cars that everyone's going to be looking for. But on the other hand,

340
00:27:05,534 --> 00:27:14,174
what you said before, Michael, was that most people are going to go for this. It's all about

341
00:27:14,174 --> 00:27:19,654
safety. They want the latest car. They want the latest technology. They want to drive around in

342
00:27:19,654 --> 00:27:24,714
a digital prison. I don't know that people will really understand what the implications are.

343
00:27:25,294 --> 00:27:29,454
I'm going to be driving my motorcycle around a lot more in the coming years, I have a feeling.

344
00:27:30,154 --> 00:27:34,474
Alrighty, guys, up last, donkey of the week. If you've made it through this, you're going to

345
00:27:34,474 --> 00:27:35,174
You're going to enjoy this.

346
00:27:35,314 --> 00:27:38,874
We love making fun of the strategic Bitcoin reserve and politicians and political figures

347
00:27:38,874 --> 00:27:40,514
of all kinds all the time.

348
00:27:40,734 --> 00:27:45,774
So one of the lead crypto advisors to the White House, Patrick Witt, said that the White

349
00:27:45,774 --> 00:27:50,334
House has a big announcement for the strategic Bitcoin reserve in the next few weeks.

350
00:27:50,914 --> 00:27:53,434
And so I think this was announced just a day or so.

351
00:27:53,534 --> 00:27:55,254
This might have been at the Bitcoin conference.

352
00:27:55,394 --> 00:27:55,934
I don't recall.

353
00:27:56,354 --> 00:27:57,454
We've heard this before, right?

354
00:27:57,534 --> 00:28:00,534
There have been how many announcements about the SBR have we had?

355
00:28:00,534 --> 00:28:04,394
And besides stealing people's coins and creating something of an SBR, we haven't

356
00:28:04,394 --> 00:28:09,574
really see much action. I would love to know, Katie, from you, do you think anything material

357
00:28:09,574 --> 00:28:14,234
is coming or is this just, you know, get everyone hyped up, get them out for the midterm elections

358
00:28:14,234 --> 00:28:21,134
this fall? What do you think? Yeah, I, you know, first of all, personally, I couldn't care less

359
00:28:21,134 --> 00:28:28,494
about the US strategic Bitcoin reserve. I think what's going on here is this announcement about

360
00:28:28,494 --> 00:28:34,954
an announcement is designed to create maybe some excitement about whatever it is they're

361
00:28:34,954 --> 00:28:35,634
going to announce.

362
00:28:35,774 --> 00:28:39,334
Maybe they want the market to respond.

363
00:28:39,614 --> 00:28:45,094
I mean, honestly, this administration so far seems to have been doing a lot of announcements

364
00:28:45,094 --> 00:28:48,774
that cause markets to jump up or cause markets to fall.

365
00:28:48,774 --> 00:28:53,454
The more suspicious amongst us might say that that's not a coincidence.

366
00:28:54,294 --> 00:29:05,654
Honestly, I think the only strategic Bitcoin reserve that we should be concerned about is our own strategic Bitcoin reserve, not the one that a government is building.

367
00:29:05,774 --> 00:29:09,714
We need to focus on building our own strategic Bitcoin reserve.

368
00:29:10,234 --> 00:29:11,534
You absolutely nailed it.

369
00:29:11,534 --> 00:29:20,094
And by the way, my take is there are only really two announcements I could imagine they make that, again, I don't want this, but would be actually interesting.

370
00:29:20,574 --> 00:29:23,874
one, the US government is actively purchasing Bitcoin.

371
00:29:24,154 --> 00:29:26,954
They have decided to truly stockpile Bitcoin

372
00:29:26,954 --> 00:29:29,194
and not just steal it from hacks or whatever.

373
00:29:29,594 --> 00:29:33,654
Or two, if they're selling their altcoin, shitcoin, crypto nonsense

374
00:29:33,654 --> 00:29:35,454
and converting that into Bitcoin.

375
00:29:35,914 --> 00:29:37,434
Either of those two things to me are like,

376
00:29:37,514 --> 00:29:38,494
that's a legitimate announcement.

377
00:29:38,674 --> 00:29:40,034
I don't want it, don't care about it.

378
00:29:40,034 --> 00:29:43,174
But it sends some signal to people who are paying attention, right?

379
00:29:43,694 --> 00:29:45,794
I have a feeling it's not going to be anything material.

380
00:29:45,894 --> 00:29:48,894
It's going to be some just sort of made up hand waving nonsense.

381
00:29:48,894 --> 00:29:51,914
But I agree with you 100% on personal strategic reserves.

382
00:29:52,374 --> 00:29:53,734
And Tony, I suspect you do as well.

383
00:29:54,154 --> 00:29:54,654
Of course, man.

384
00:29:54,714 --> 00:29:59,214
The only reserve that has value is your own, that you're holding in full self-custody.

385
00:29:59,674 --> 00:30:01,734
What these people do, who cares, man?

386
00:30:02,094 --> 00:30:02,914
I mean, they're politicians.

387
00:30:03,134 --> 00:30:06,414
If you believe them, you have a bigger problem on your hands.

388
00:30:07,114 --> 00:30:11,874
Second of all, this is like what, the 27th time they talk about this mirage.

389
00:30:12,294 --> 00:30:14,894
And again, just for those who still don't get it,

390
00:30:14,894 --> 00:30:21,094
it is illogical for a government to willingly give up the power of money.

391
00:30:21,894 --> 00:30:27,654
So whatever interest they have in Bitcoin is definitely not in your best interest.

392
00:30:28,214 --> 00:30:34,074
They want to own the Bitcoin themselves because they understand how valuable it is.

393
00:30:34,134 --> 00:30:34,674
They get it.

394
00:30:34,774 --> 00:30:35,694
Believe me, they get it.

395
00:30:36,054 --> 00:30:42,974
But what they don't want is for you to get it because what they want to do is take as

396
00:30:42,974 --> 00:30:52,834
much Bitcoin as possible, build massive service financial empires over their Bitcoin and sell it

397
00:30:52,834 --> 00:31:01,594
back to you, the clueless people, as the next best thing to keep you dependent on them. Do you

398
00:31:01,594 --> 00:31:07,774
understand? Because this way, it's a win-win for them. They use Bitcoin, the world's most valuable

399
00:31:07,774 --> 00:31:16,134
asset and they hold on to their slaves. That's what they're doing. And so for those that are

400
00:31:16,134 --> 00:31:22,434
still measuring their wealth in dollars are excited about this news because they're only

401
00:31:22,434 --> 00:31:27,794
thinking about that worthless paper. So for them, of course, it's like, wow, brilliant news.

402
00:31:28,114 --> 00:31:34,094
But for anyone who has a clue and understands that Bitcoin represents your freedom, the fact

403
00:31:34,094 --> 00:31:35,834
that you don't have to listen to these clowns.

404
00:31:35,994 --> 00:31:37,674
You don't have to abide by their rules.

405
00:31:37,854 --> 00:31:40,254
You don't have to play on their chessboard.

406
00:31:40,334 --> 00:31:42,434
You can completely exist outside their system

407
00:31:42,434 --> 00:31:44,994
and build a whole parallel new world,

408
00:31:45,174 --> 00:31:46,034
which is what's happening.

409
00:31:47,594 --> 00:31:51,094
This is just, you know, entertainment at best.

410
00:31:52,254 --> 00:31:54,014
So Bitcoin is for everybody.

411
00:31:54,474 --> 00:31:55,614
Whether you like them or not,

412
00:31:55,894 --> 00:31:58,434
that's the trade-off for having a neutral asset

413
00:31:58,434 --> 00:32:01,194
that no living soul can corrupt or manipulate.

414
00:32:01,674 --> 00:32:03,714
But just understand that if you want to win

415
00:32:03,714 --> 00:32:07,794
at Bitcoin, these headlines should not excite you.

416
00:32:08,454 --> 00:32:15,394
These headlines should incentivize you to increase your savings, convert that worthless

417
00:32:15,394 --> 00:32:22,294
toilet paper that you don't own into something that has value that is in your full self-custody.

418
00:32:22,834 --> 00:32:24,614
That is the only way to win here.

419
00:32:24,714 --> 00:32:30,254
And again, if you are living in a hostile jurisdiction or one that you suspect is going

420
00:32:30,254 --> 00:32:39,694
to turn hostile. Pack your bags and get out before you're stuck. Because the worse things get,

421
00:32:39,914 --> 00:32:45,634
the more extreme they get. They shut down the world for a bullshit virus. You don't think they're

422
00:32:45,634 --> 00:32:51,534
going to do it when they're completely desperately trying to hold on to a relevancy when their money

423
00:32:51,534 --> 00:32:58,154
completely fails, which is what's happening. Watch the signs. Pay attention, guys. Because again,

424
00:32:58,154 --> 00:33:03,994
the window of time is closing very, very quickly. And no, this is not a drill.

425
00:33:04,914 --> 00:33:09,254
Well said, Tony. Well, to Patrick Witt, congratulations on being our donkey of the

426
00:33:09,254 --> 00:33:13,254
week. For everyone who's tuned in today, we really appreciate you being here. You need to

427
00:33:13,254 --> 00:33:17,334
establish your own strategic reserve like Tony and Katie both spoke about. Go to the link below.

428
00:33:17,454 --> 00:33:20,874
You can schedule a time to talk with our team. We will walk you through how we guide you through

429
00:33:20,874 --> 00:33:26,434
that process. White glove, one-on-one, no shortcuts, no compromises, no proprietary tools. Everything's

430
00:33:26,434 --> 00:33:30,574
open source done properly. And do me a huge favor, smash the like button, make sure you're

431
00:33:30,574 --> 00:33:33,734
subscribed to the channel. We would really appreciate anything to feed the algorithm.

432
00:33:34,334 --> 00:33:37,154
Comment on it, share it with someone who you think might be interested in watching Bitcoin

433
00:33:37,154 --> 00:33:41,094
banter and some of our other segments moving forward. And then last thing, we have an incredible

434
00:33:41,094 --> 00:33:45,154
newsletter that I would encourage everyone go to the link below. For the newsletter, it is highly

435
00:33:45,154 --> 00:33:50,094
educational, also a ton of incredible memes. So very funny, we send that out every Sunday,

436
00:33:50,454 --> 00:33:55,134
you will absolutely love it. So get subscribed there. And once you subscribe to our newsletter

437
00:33:55,134 --> 00:33:58,994
list. You also get invites to live streams, webinars, things like that, that we do with a

438
00:33:58,994 --> 00:34:02,914
lot of incredible people. We have some of those coming up. So you'll want to do that. And Katie,

439
00:34:02,914 --> 00:34:06,974
it was a blast having you on Banter for the first time. Tony, good seeing you as always. But guys,

440
00:34:07,114 --> 00:34:09,734
you take care. Have a great day. And we'll be back very soon.

441
00:34:10,554 --> 00:34:12,694
Thanks, guys. This was awesome. Cheers.