Well, the problem is someone has access to a big red button and can change whatever they want about the money whenever they want.
And that's a problem for all of humanity.
And it's the biggest problem we have.
Isn't it crazy?
The US dollar is the world reserve currency and the Federal Reserve is this private institution, privately owned,
and they dictate what happens for the whole entire globe.
How does that make any sense?
The only source of inflation is the money printer.
That's it.
The natural course of human action in a free market is that prices go down and quality goes up.
You can weaponize it.
You can make it expire.
You can restrict what you can or cannot spend it.
And you destroy the fungibility of the money, which we all take for granted.
Then they bring out social credit scores.
And then we're absolutely f***ing.
I think people have got three years to get Bitcoin into self-cust at the very most.
People with Bitcoin are the only ones that are going to have any sense of freedom or control over their own lives.
The TLDR is, it's all broken, but we have the solution.
Welcome back to G'day Bitcoin, ladies and gentlemen.
Third take lucky.
Today on the show, we have Joe and Brian joining us from What Is The Problem?
You should have already seen it, but I'll link it in the description.
Joe, how are you today?
I'm doing well.
Thanks, Sean. Thanks for having me.
Thank you very much, mate.
We got there in the end.
I was a little bit tongue twisted.
We are filming this at Blockhite Night, $121,298.
The Bitcoin price in Fiatellos is $113,369.
We do have a nice 69 at the moment.
Sets per USD is $882.
Joe, what is the problem?
Well, the problem is someone has access to a big red button
and can change whatever they want about the money whenever they want.
And why is that a problem?
It's a problem for all of humanity, and it's the biggest problem we have.
Isn't it crazy that the Federal Reserve is sort of –
the US dollar is the world reserve currency,
and the Federal Reserve is this private institution, privately owned,
and they dictate what happens for the whole entire globe.
How does that make any sense?
Well, I mean, there's a famous saying,
You judge the purpose of a system by the outcome.
And what does that outcome control?
Yeah, absolutely control and theft of everything.
You have the system is set up so that somebody has exorbitant privilege in the system over everybody else.
And whenever you have a system where somebody has that unilateral benefit, they use it.
And they use it and they use it until they destroy everything.
until they've taken everything.
This is how the system is designed.
I mean, it's fundamentally flawed
at the very heart of everything.
And if you build something on foundations
which don't work, it collapses.
Maybe it doesn't collapse on the first day,
but it up or the thousandth day or the hundred thousandth day.
But it collapses because fundamentally,
this system is broken.
And so it will collapse under its own weight.
And this is where we're heading to.
I mean, you've got a system where it is structurally built on theft.
And I'm not talking about theft in terms of taxism.
Different people have different views on the level of insane taxation we have now across different parts of the world.
But that's not the theft I'm talking about.
The theft I'm talking about is the debasement of the money we use.
And then you combine the theft with having zero actual control over your own money.
it's a dystopian prison that we all live in just not most people don't realize and it's about to
get a whole lot worse and so you know it's probably a fairly depressing first two minutes
but we can start that we can work through and pull that pull that apart um but yeah you know
the tldr is it's all broken but we have the solution and so everyone should be super super
positive it's just not enough people know about the solution but everyone can unilaterally adopt
the solution so the future is very bright we're just in going through some dark times right now
yeah and obviously the reason we're talking is tldr bitcoin is that solution we'll dive into that
in depth but i do want to stay sorry audience with the dystopian thread for just a little bit longer
but you said the the theft it's not from tax but it's from the debase debasement of of the currency
So everyone around the world is feeling inflation.
Electricity has gone up in this country about 9% just this year alone.
Gas prices, food, housing, like everything.
Cars, like anything you can name costs more now than it did last year and let alone five years ago.
And I think people have really started to wake up since 2020 with COVID the pandemic or the plandemic whatever way you want to see it where they shut the world down they printed a whole lot of money People like especially in Australia they like
the grocery stores, like the supermarkets, they're just jacking up their prices, these
evil capitalist pigs, and they're just like ripping everyone off. And the media goes with that line.
But then they want to talk about bringing them price controls and things like that.
Maybe they're jacking them up a tiny little bit more than inflation, like I very much doubt it,
the inflation is huge the cpi numbers like totally made up yeah so what is the real issue
like what is debasement and what's actually caused inflation in people's lives because it's not the
greedy grocers or the business people they're simply just passing on the costs that have been
passed on to them yeah yeah that's simply the only source of inflation is is the money printer
that's it the natural course of human action in a free market is that prices go down
and quality goes up and this is just so blindingly obvious it's just we live in a world
it's just 180 degrees the other way around and we've never questioned it yep well i just want to
just on this topic it's blindly obvious to us you know we've read books like what's the price of
tomorrow you know so we understand that over time as technology improves things that should be easier
and cheaper to be able to export out of there or to be able to build and along with that because of
the competition and market the quality should also go up but for anyone that hasn't read a book like
the the price of tomorrow by jeff booth or maybe not into bitcoin or gold before bitcoin or precious
metals that may not be so obvious um to them so i was just wondering if you could break that down
a little bit more i can run through in 60 seconds so if you if you've watched what's the problem
jeff's jeff's wonderful book the price of tomorrow i've bastardized it completely down to like
one minute on a slide about how the the people on the island you start rebuilding and it's a really
poor man's job of a wonderful book so you should go and read the book but the core the core thing
is when you leave people alone and you have to give them good money and they're allowed to operate
freely they specialize and they compete and when you specialize you become better at what you're
doing you drop the things you're not good at you focus on things you are good at and because you're
better than the average person your ability to produce goes up so your quantity you can produce
and a certain amount of time increases.
So prices begin to fall.
And the quality goes up because you're better at it.
So quality goes up.
But there's lots of people doing the same thing as you
and they're all competing with you.
And because you're specialized,
you need to trade with everybody else
because whatever it is you're producing,
you can't survive on that alone.
So you have to exchange it for money
to go and buy something else, right?
And so you have trade in a free market
where people are specialized, they compete,
the prices start to fall and quality starts to go up because everybody's making a decision about
what they buy from everyone else on the combination. I want the highest quality at the lowest price.
If you give me lower quality at a higher price, I don't buy from you, you go bust.
You'll get out-competed. And so in a free market with perfect money, prices go down forever and
quality goes up forever. Super simple. That is so blindingly obvious, right? When you're like,
Of course.
Of course that's the case.
Capitalism is what happens when you just leave people alone.
Okay?
And the benefit of that system accrues to everybody in the system.
So imagine you're in that little world, but you can't work for whatever reason.
Right?
But you have a small amount of savings.
The fact that prices fall and quality goes up means your money is becoming more valuable over time, not less valuable.
Right?
So you're benefiting, you're saving, you don't even need to earn any interest.
The purchasing power of your money is going up over time because you're benefiting from the productivity of everybody else.
It's accruing to the money.
This is exactly how money should be working.
So good money in a free market raises the quality of life for everybody.
Full stop.
So why the hell are we in the situation we're in today?
Prices constantly go up.
in the fiat world, and quality deteriorates.
It's like something's broken.
Something's broken.
And it's the money.
The money is broken.
And so the money being corruptible in the first instance starts with money printing by the government,
which leads to ultimately a swelling of the government, a destruction of the free market.
and we can dig into these destruction of the free market,
which causes more societal problems, which means the government needs to spend
more money into the market trying to fix the problems it created which exacerbates the problems and centralises the economy greater and greater extent around the government So it destroys the free market by printing money and then solves it by printing more money which faster destroys the free market
And the government has to get more and more involved in everything and even gets pushed to be involved by some sectors who benefit from the money printer.
Those closest to the government, like the defence sector or the pharmaceutical industry or the banking sector.
they push to be regulated you've got to protect the public but that reduces competition for them
it puts up barriers to competition so they can now charge more to the government and reduce the
quality and the government then mandates their services to the population or underwrites them
if they require a bailout it's just socialism and that's why you have prices going up so you know
the government prints money it then has to spend this money in the economy it spends the money in
the economy with the people closest to the government. So it comes in those extra fiatellos,
they look, or Aussie dollars, right? They look like demand. They're not demand, it's just extra
Aussie dollars. So the people receiving them start to see prices going up, become more profitable,
closer to the government. And then so people in the rest of the economy go, well, why am I
competing over there? There's greater profit margin to play for by going, being closer to the
government i'll stop what i'm doing i'll go work in the banking sector right so you get this drain
of productive people and productive capital in the rest of the economy they all get sucked closer
to the government right so the first recipients of the money then get to buy assets and they also
then spend that on inputs that everybody uses so they start hiring people they spend on energy
all these things, which then is just extra Aussie dollars going through the rest of the economy.
So to your point, it's like the food shops, you know, they now see their input costs going up.
They didn't receive any money from the government, but they're on the receiving end of the
consequences of the government printing the money because it pushes all their input costs up.
And if you're running a business, you have to balance the risk reward of running the business.
running a business is stressful like you're on the hook for it you're on the hook for it so there
has to be a sufficient reward for you to even spend the time trying to build the business employ
people make a profit and if the profit expected profit reduces you just give up you say i'm going
to close the business i've got to work for someone else they can take that risk right so you start
to see businesses closing or they have to go okay well i need to re-establish my profit margin
because it's been eroded because the government printed a load of money.
So how do I do that?
And this is where consumer inflation comes from, right?
The vast majority of consumer inflation that isn't input-driven
is people reacting to the fact that the inputs have got up
because the government printed money.
And so every business is a choice between three things,
and you'll recognize all of them.
If you've still got your Bitcoin on an exchange
or you're looking to take your Bitcoin security to the next level,
I've partnered with the Bitcoin Way.
They offer live help for setting up cold storage,
running your own node, keeping your Bitcoin private,
planning for the future, using multisig and so much more.
They never touch your keys.
They will not touch your coins.
Instead, they'll show you how to buy and keep them safe.
If you want to make your Bitcoin setup safer,
you can book a free 30-minute call and have a chat with them.
Safe Dina Moose, the author of The Bitcoin Standard,
Natalie Brunel, Preston Pish and so many more
recommend the professional IT cybersecurity team.
A couple of outstanding things here.
You can see they've been featured in Forbes,
Bitcoin Magazine, Bitcoin Prague, Zero Hedge,
Simply Bitcoin, the Bitcoin Safety,
the Bitcoin Standard podcast for Safety and Moose,
Bitcoin News, obviously, G'day Bitcoin for a long time.
They're the world experts in helping people become self-sovereign.
It's not just about protecting your Bitcoin stash.
Yes, they will help you do that in a very easy to understand step-by-step process.
But from there, they can help you secure your data.
They are your personal cybersecurity IT experts.
And then step number three is getting a second passport, a plan B residency.
The team, very cheap, very affordable for people that are looking to take their sovereignty to the next level.
You can find out more about their services.
when you first log in to their website as well.
They have got a free three-minute quiz
to allow you to check if you are doing your cybersecurity,
your setup correctly.
I urge everyone to jump onto thebitcoinway.com.
I have put a link into the description for everyone.
Could not recommend them enough.
I've used them personally before I ever partnered with them
for the channel, friends and family.
They asked me to help them out.
I'm like, go to the world experts.
That is the Bitcoin way.
So reach out to the Bitcoin way today The first one is that you mind you a manufactured product right It like well it now costs more to make so we just pass on the price increase to the customer it now costs 10 more so it same
size same quality just price gone and that's what that's what people would talk about or the
government would talk about is inflation consumer inflation it's one third of the picture because
you have the option of not putting the price up.
You could instead redesign the packet
and make it 10% smaller
and charge the same price.
So same price, same quality,
it's now just smaller.
And this is shrinkflation.
And we see it everywhere.
Often it's with a redesigned package,
so you're not even sure.
It doesn't look the same as it did before,
so it's hidden from you.
But I would term that semi-visible.
inflation it's like sometimes we notice it and sometimes we don't um but that's not in the
inflation statistics and then the third one is you go well i'll keep it the same size and the same
price i'll just find a way to make it more cheaply and every business is already trying to do that
anyway this is what business is it's like you're trying to be the most efficient business you can
but you're doing that against a backdrop of the combination of quality and price.
If you get to the point where you need to reduce your input costs,
you have to compromise on quality.
And you do that in two ways.
Like you either just fire people.
And so now you can't get anyone on the phone when you try and call,
talk to somebody about a product or a service.
It's like, you know, there's just no one there.
That's the easiest way.
but the worst the worst way for society is that you compromise on the quality itself
and so you say well the product i'm not going to use worse components to build the product
so as previously someone would have bought it and it lasts for two years before it needs to
be replaced it now only lasts for one year there's still inflation it's inflation through time like
i've got to buy it twice over two years rather than buy it once not in the inflation statistics
right so it's like the decline in quality but then that's from a mechanical perspective
like a product perspective but if you think about some things where you only get to use them once
like food well i want to bring up the food because then what's the problem you use that as an example
and i truly believe we are what we eat and i believe we can pay as much attention to bitcoin
as we want and we can get as wealthy as we want but if we lose our health in the process like
What's the point?
What's the point of doing that?
And I think one of the greatest drivers for our long-term health is what we just literally
put into our mouth.
And the decline in food since even since I was a kid or even in recent years, like I
walk into the supermarket and there's sort of the fruit at the start, the meat and the
milk and the eggs at the end.
And they're the only aisles I go to and the water aisle.
And that's it.
And then there's like 30 aisles in between.
that to me just looked like toxic garbage.
But I guess like how did we get here?
And like how has that come about?
Because what's the problem?
You really laid it out real well.
Well, there's a couple of things.
The first is that inflation pressure.
So if your production costs go up
because there's just more Aussie dollars in the system,
then you end up compromising on the inputs.
So you reduce the quality.
And so your fresh ingredients are increasing
replaced with industrialized sludge to keep the costs down it maybe even tastes better at the same
time but you you don't really notice it necessarily on day one this is why we all why we have obesity
crisis it's like we're consuming stuff we should never be consuming yeah and it's directly a result
of the of the money printer right and the second impact is that because of the money printer
the the businesses have to put up costs but the people who are struggling the most in society
who are on low wages their wages are going up less than the rate at which the cost of living
is going up and the full cost of living it's like the visible the semi-visible and the hidden
inflation right that's eating away at them three different aspects which is way way way
above the rate at which their earnings are going up so every year they're having to make compromises
and so the compromises is like we need to move further and further down the quality curve of
our decisions in the food we eat because we can't make the economics balance anymore
so not only is the food deteriorating quality people are getting forced down the quality curve
They're having to buy crappier and crappier food.
And the food itself is crappier and crappier, right?
So it's like a race to the bottom from two days to two days.