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and we are live welcome to episode 25 to the unknown pod runaway inflation in the eighth

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commandment we'll get to that shortly i am joined today my name is jordan bush i'm the executive

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director of tgfb media which exists to help christians understand and use bitcoin for the

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glory of god and the good of people everywhere today i am joined by one third of the island boys

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Ryan, go ahead and introduce yourself

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and then we'll tell everybody

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we're our derelict compatriots.

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Yeah, I'm Ryan Finley,

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entrepreneur, dad of six.

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I just recently spoke at the

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Bitcoin is for Everyone up in Portland.

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Low time preference parenting.

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That was a talk.

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And yeah, it was good to be here, Jordan.

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It was a great talk.

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Yes, as we mentioned, Ryan,

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thank you for being here.

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Thank you for taking seriously your commitment.

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We've got some other guys who are like,

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I'm taking my daughter to college and I'm going to visit my wife's family in Europe. Okay. Like

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again, what kind of excuses are these really? I don't understand. But again, so we do want to

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announce that we're opening open casting calls to replace them. So Ash and Ash and Matt are

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nowhere to be found. So if you'd like to be considered, please send us your resume

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and we'll be happy to consider them in a timely manner. Again, today we're going to be talking

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about runaway inflation in the eighth commandment. What in the world do those things have to do with

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one another? Hopefully, if you've been around these parts for a little bit, you know what those

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two things have in common, but we'll get to that. So Ryan, why in the world are we doing this

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episode? Why did you think this is your choice? So why did you think this was something that we

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ought to talk about? Yeah. I mean, I think we had another CPI report that came out today. And again,

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I think the numbers came out or the numbers are running a little hot still.

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And like my base case is we're going to have to keep printing mounds of money and inflation is going to be high from here on out.

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There's no there's no I don't think they're going to be able to stop the amount of money that they're that they need to print.

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And but the perniciousness of it, I would say the majority of people haven't thought deeply about it or or understand how it works.

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and our government straight up lies to the people.

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Our presidents lie.

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They blame inflation on everything but its actual cause,

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which is our money being debased by the Federal Reserve

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just endlessly printing it.

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And there's also everything's obscure.

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So we're going to bring up some of the examples

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of how you at home can track inflation

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in some of the things you buy.

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But yeah.

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It's very, very destructive and it impacts everything and it's only going to get worse.

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So, yeah, I think this is a really important talk.

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Yeah, this is something where, again, there's lots of, well, maybe not lots, there's a number of different understandings of what inflation is.

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Some people would describe it as the increase in prices over time.

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Again, there is truth in that to a degree.

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But then another way to think about inflation is just the overall increase of units in the

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monetary system.

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So the increase in monetary units that are out there to be spent, as that number goes

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up, that is another sense in which inflation can be measured.

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And it's by far in the day and age that we live, it's the one that's less understood and

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less emphasized.

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You're going to find this principle everywhere.

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Once you start looking for it, once you see it, is a lot of the explanations for things are very superficial.

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And the explanations and the solutions that people and governments and institutions are willing to discuss are these very superficial solutions that actually won't resolve any of the underlying causes for the situation that we find ourselves in.

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And so once you, again, once you start looking for that, you start to see it everywhere.

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And so, again, a lot of the things that we're going to talk about, just because the monetary base has grown very quickly through the issuance of new money as debt that then gets paid back, basically, there is so much more currency units out there that it just increases necessarily the price of everything that can't be created as quickly as the currency units themselves.

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and since they're created literally instantaneously, most of them digitally,

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there is no time between when they're created

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or very little time between when they're created

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and when their effect starts to be felt in the economy.

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So one of the things we're going to start doing, we have a ton.

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We have a ton.

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This is going to be a great little quick hitter.

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Find your tweets of just about inflation.

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So the first thing that we're going to do here

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is we're going to look at one of the most surprising but reliable ways

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to observe inflation is what, Ryan?

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Ground beef.

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Ground beef.

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Now, again, this might sound insane to you, but it is, in fact, true.

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So here we go.

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Some guy I found on Twitter, we won't even mention.

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Let's just cut off that.

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Let's cut off his name there.

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In 2020, the Federal Reserve increased the U.S. dollar money supply by 42%.

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since 2020 ground beef prices have gone up 45 percent ground beef is the most accurate picture

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of inflation we have so that when you so when you see ground beef prices going up respond

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accordingly buy bitcoin ryan i'll let you unpack unpack that anything else you want to mention

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i don't know if it was lynn alden who first mentioned it she uh i know that she's tweeted

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about it i think we're going to share another tweet but she called it like the big the big mac

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index and i was like i was i thought it was such an incredible example um anyways she she explains

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that it's very difficult to hide inflation in ground beef because it it represents i mean it's

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there's so many um different parts of our economy and so many inputs that go into ground beef you

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got transportation you got land labor oil yeah uh seed costs like just butcher costs like everything

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There's just a ton of, and so it's very difficult.

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And then at the end of the day, it's like, how do you reduce?

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I mean, obviously there are some ways that they've reduced the quality of some beef.

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But I just go a step further and track the price of local grass-fed ground beef.

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But you can do whatever you want.

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I mean, at the end of the day, it's still difficult to hide inflation in the price of beef.

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So, yeah, this is something where, again, there are ways, and we're going to talk about one of them, which is shrinkflation.

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There's different ways to try to hide the true inflation that's going on.

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So, here's a few different ways that you can handle inflation.

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So, inflation just means that everything, the price of the goods themselves go up.

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And so then correspondingly, the price that these providers are having to charge in order to continue to make the margin that they need to in order to operate and remain profitable, they just basically pass that inflation rate along to their customers.

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And so this is where kind of the misunderstanding of, oh, businesses are going to pay more.

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It's like that never is going to happen.

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With limited exception, that is not going to be the primary way that this thing goes down.

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if there is increases in costs that are going to be passed along to the consumer.

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And so in this case, you can see, again, the monetary supply went up 42%,

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and the cost of ground beef went up even more because, again, there is just loss.

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There's other increases that go up.

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So your cost of fuel probably went up during this time period.

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Your cost of labor probably went up a little bit.

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And so all of those little things affect the end product.

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And so again, this isn't magic.

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Like this is something I really think is important.

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Like prices aren't magic.

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They have everything to do with what's going on

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in the process of making something,

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the delivery of the product that's being made.

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But again, we mentioned one of the ways

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that you can hide some of this inflation

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and that's to actually change the product itself.

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So for instance, you could have like,

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let's say you're going to a grocery store

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and they're selling, let's say it's like a 90% ground beef,

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90% meat and then there's like some fat in there as well, which again, you want some fat.

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But let's say normally the store is selling 90% and you get accustomed to paying whatever it is,

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let's say $5 a pound or $6 a pound for ground beef that's like that. One of the ways that

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businesses recognize that their customers don't like to see prices go up. And so one of the ways

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that they can try to avoid having to raise prices

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is by saying, all right,

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well, we're going to drop the quality of the meat

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from 90% to 85%.

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And it'll still be listed there.

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They'll still show you right there.

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If you're paying attention, you'll notice.

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But a lot of people won't be paying attention.

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And so they'll just keep buying it

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and they'll see, oh, it's the same price.

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So that's good.

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In reality, it's something more subtle has happened.

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The product itself has changed

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and it's gotten worse

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in the name of keeping the price the same.

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And so this is, you mentioned Lynn. We have Lynn, here we go, mentioning, here's a chart of the U.S. Consumer Price Index. So the CPI is the short way to put that. U.S. broad money supply per capita and the Big Mac prices from 1990 to 2020 normalized to 100 in 1990.

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So you can see here, so CPI is blue.

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This is the consumer price index, the official numbers, which are pretty much always wrong and lying right to your face in order to cover the government's rear end.

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That's the CPI.

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The broad money, so this is how much money, the orange.

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Incredible, they chose Bitcoin colors.

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Broad money per capita, and then the Big Mac price.

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So the Big Mac price is way above, significantly above, is it double?

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Let's see what it is.

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not quite yeah there was another it's it's gone up an enormous yeah i think i think it's gone up

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even i want to say it was like i saw one tweet it's like 13 or 14 a year um yeah it's even yeah

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yeah so again this was to 2020 so this is i mean again another five years since then so it's going

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to be much higher than this uh and so yeah our astronaut did it yeah exactly yeah ryan uh replied

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do her in Astro.

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Did it?

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So that's,

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that's another one.

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Um,

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again,

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there,

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there's a hundred things.

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So follow Lynn Alden.

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Lynn Alden is a fantastic resource for inflation related things.

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Parker Lewis,

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as it relates to meat is another,

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uh,

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great person to follow.

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Parker has been following,

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uh,

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the meat,

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not at Kirkland.

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What's the,

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is it,

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um,

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fresh market.

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I think next to him,

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this,

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this actually isn't that ample.

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So he's been,

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he's been following fresh market.

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Yeah.

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He's been yelling from the rooftops as well.

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Cause it's just,

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it's the easiest.

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It's yeah.

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So many of the price increases are obfuscated in supermarkets because they shrink the packages.

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It's all sorts of, they reduce the quality, which again, it just hides it.

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The CPI, the basket's always changing.

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Again, you can't trust it at all.

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Like every time it makes the numbers look bad, they just change the basket to.

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and then at the end of the day

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you know inflation is stealing money from everyone

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and that obviously when the word gets out about that

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people bring out the pitchforks

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so politicians come out

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and they you know come up with 100 different scapegoats

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it's the greedy billionaires

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it's the greedy grocery store owners

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right I mean I think they have a 2% margin

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on their goods at a grocery store

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and with a straight face

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Yeah. Yeah. Yeah. And this, this is something where I got an example of this. He's like, well,

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I mean, how can you really say that the CPI is lying? Well, here, here's an example. You can go

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back and you can look at the way that the CPI was calculated. Uh, and you can go through and read

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what the things like, what things that they include. Um, and one of the things that they,

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I can't remember. One of the things that they mentioned was initially the CPI, I believe,

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I believe, I think steak was actually on there. It was like some, like a better cut of beef.

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and now they just do it with ground beef.

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And so they act like, so it's easier to disguise,

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even though, oh, this is both beef technically,

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but it's a big difference between the steak and ground beef.

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And so to try to just draw an equivalence between those things

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in order to hide inflation, it's just wrong.

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It's just immoral.

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You're actually lying by doing that.

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But here's an example.

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This is just from the last 12 months,

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a little bit less than 12 months here,

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or I guess a little bit more.

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So this beef loin, New York steak, boneless USDA choice was $49.

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For about, you know, almost the same weight was $49.24 a year ago.

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It's $78.03.

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I saw a beef tenderloin today at the grocery store.

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And I had to do, I literally walked by it, saw the price, then walked back and assumed that I had misread it.

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Because it was a beef tenderloin.

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It was a good-sized one.

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I believe it was $119 or $120.

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It was something absurd.

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I was like, how is this possible that this is this much?

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We just bought a quarter cow with some family of ours.

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We bought a quarter cow between three families, okay?

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And I believe we spent $700 for that.

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So you're talking $8,500 for the whole cow.

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It's just bonkers.

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These numbers are just crazy.

235
00:14:08,740 --> 00:14:13,500
I remember a few years ago when I believe a cow was like $2,500.

236
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An entire cow.

237
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And now we're like four times that.

238
00:14:17,980 --> 00:14:18,740
That's nuts.

239
00:14:19,400 --> 00:14:20,160
So that's Parker.

240
00:14:20,600 --> 00:14:21,760
Go follow him.

241
00:14:22,380 --> 00:14:23,600
Then we've got this one here.

242
00:14:24,900 --> 00:14:26,180
This is the McDouble.

243
00:14:26,660 --> 00:14:39,687
We not just the Big Mac index Let look at the McDouble index Let see if we can play this If you listening to an audio McDouble went from 99 cents to

244
00:14:39,687 --> 00:14:40,767
a few years later.

245
00:14:42,047 --> 00:14:43,147
2018 is

246
00:14:43,147 --> 00:14:44,047
$1.45.

247
00:14:46,527 --> 00:14:47,547
How are you guys?

248
00:14:47,626 --> 00:14:48,287
$2.05.

249
00:14:54,287 --> 00:14:55,167
$2.19

250
00:14:55,167 --> 00:14:56,287
$2.49.

251
00:14:57,647 --> 00:14:59,647
$3.99.

252
00:15:04,647 --> 00:15:08,647
$3.99.

253
00:15:10,267 --> 00:15:11,746
Current times.

254
00:15:13,746 --> 00:15:14,927
$3.49.

255
00:15:16,927 --> 00:15:19,267
What was the date on the last one?

256
00:15:19,626 --> 00:15:20,227
I missed it.

257
00:15:20,527 --> 00:15:25,746
This last one, you can't see the date, but it's $4.49 in McDouble.

258
00:15:27,647 --> 00:15:30,507
It's 350% peak and less.

259
00:15:31,767 --> 00:15:34,687
479 in Boulder City, Nevada, as of through about in 23.

260
00:15:38,307 --> 00:15:39,587
It's over $5.

261
00:15:40,407 --> 00:15:43,027
Yeah, it looks like over $5 in 2023.

262
00:15:46,687 --> 00:15:52,387
So you're talking over, you know, basically 500% increase in the span of 10 years.

263
00:15:53,367 --> 00:15:57,227
This is, again, man, just so unsustainable.

264
00:15:57,227 --> 00:15:59,887
And again, it's something that's super tangible for a lot of people.

265
00:16:00,267 --> 00:16:02,287
You know, McDonald's has sold billions of hamburgers.

266
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But yeah, it is.

267
00:16:04,947 --> 00:16:05,227
Yeah.

268
00:16:05,767 --> 00:16:07,746
It hits different when you see it like that.

269
00:16:08,587 --> 00:16:08,807
Yeah.

270
00:16:09,007 --> 00:16:12,227
I just encourage people to pick an item.

271
00:16:12,687 --> 00:16:18,607
The one that I follow the most is there's an organic 15-pack of hamburger patties at Costco.

272
00:16:19,687 --> 00:16:23,067
And I want to say it was like 2018.

273
00:16:23,507 --> 00:16:25,126
So I guess it's been seven years ago.

274
00:16:25,126 --> 00:16:32,847
uh but maybe it was maybe it was closer than 2020 but it was i remember paying 16 18 bucks for that

275
00:16:32,847 --> 00:16:40,387
there's like 15 patties in it so you know it's about a dollar a patty it just hit 29.99 so

276
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you just keep watching it though like so i mean if at the current pace i bet you know within a year

277
00:16:47,607 --> 00:16:58,847
it'll be 33 34 and it's just going to keep 10 plus per year um unless you know and obviously

278
00:16:58,847 --> 00:17:03,787
there's i was talking to somebody earlier today there's you know there are some supply

279
00:17:03,787 --> 00:17:10,387
yeah driven issues it's not always 100 because because sometimes it'll spike it'll be it won't

280
00:17:10,387 --> 00:17:17,687
just be 10% like, um, it won't just because it won't be just because of, um, the increase in

281
00:17:17,687 --> 00:17:23,467
the money supply. Sometimes with, you know, storms feed, like we're, we have, we had a bad, uh, summer

282
00:17:23,467 --> 00:17:29,046
in the West and there's less, uh, hay available. So feed's going to be more expensive. So that's

283
00:17:29,046 --> 00:17:37,987
going to increase, um, beef prices even more than normal, um, next year. So, yeah, again,

284
00:17:37,987 --> 00:17:42,286
it's not the only it's not the only factor but it is an enormous factor that that's kind of what

285
00:17:42,286 --> 00:17:46,347
you're getting at i meant to mention that earlier so yeah again you're gonna have the what about

286
00:17:46,347 --> 00:17:50,987
people who are always gonna be you're like that doesn't tell the whole story it's a correct we

287
00:17:50,987 --> 00:17:56,467
understand that like david again this is still yeah it's by far the biggest factor um especially

288
00:17:56,467 --> 00:18:02,427
over time it it's a it's an enormous factor uh here we have another one from a not quite friend

289
00:18:02,427 --> 00:18:07,627
of the program hopefully someday become friend of the program uh balaji uh shared this one with

290
00:18:07,627 --> 00:18:14,586
Campbell's Soup Index. Let's see. He calls this one the single best long-run measure of food

291
00:18:14,586 --> 00:18:20,046
inflation, and it's gone vertical. Look, man, forget Bitcoin. Look at the returns. If you're

292
00:18:20,046 --> 00:18:26,487
investing in Campbell's Soup, baby. So you're looking at now, again, the data on this is really

293
00:18:26,487 --> 00:18:31,566
interesting when this started to go parabolic. Where did this happen? Oh, yeah, the 70s.

294
00:18:31,566 --> 00:18:34,826
What happened in the early 1970s?

295
00:18:34,826 --> 00:18:36,907
Oh, yeah. What happened in 1971?

296
00:18:37,127 --> 00:18:37,786
Yeah, yeah.

297
00:18:37,967 --> 00:18:39,127
It's very interesting.

298
00:18:39,607 --> 00:18:39,806
Yeah.

299
00:18:40,427 --> 00:18:40,747
Go ahead.

300
00:18:41,527 --> 00:18:52,066
No, I was going to say, yeah, there's so many charts like this that just as soon as 1971 came around and we went off the gold standard for good, prices just went vertical.

301
00:18:52,066 --> 00:18:57,967
I mean, the other thing you can see is where you see interest rates.

302
00:18:58,687 --> 00:19:00,967
I mean, you see basically through here.

303
00:19:01,187 --> 00:19:05,507
I mean, again, interest rates being low basically makes the price of everything go up.

304
00:19:05,847 --> 00:19:07,447
You can see a lot of these things.

305
00:19:07,507 --> 00:19:09,107
Just look at these gap ups during COVID.

306
00:19:10,427 --> 00:19:13,326
Gap up here as well.

307
00:19:13,447 --> 00:19:18,607
Again, this is just something where, so again, now it's over $1.24.

308
00:19:18,607 --> 00:19:22,167
You're talking 10 cents this thing was for a long time.

309
00:19:22,367 --> 00:19:23,527
Look how it stayed steady.

310
00:19:24,247 --> 00:19:24,347
Yeah.

311
00:19:24,487 --> 00:19:26,046
This is what's so fascinating, right?

312
00:19:26,107 --> 00:19:31,887
When you have a stable, scarce currency, you do get price stability.

313
00:19:32,627 --> 00:19:38,387
And the crazy thing is I think we did, we were having monetary debasement during those years.

314
00:19:38,546 --> 00:19:40,127
It wasn't like we weren't having any.

315
00:19:40,287 --> 00:19:40,447
Yeah.

316
00:19:40,546 --> 00:19:45,467
It's just that there was way more restraint and the amount of debasement was very low.

317
00:19:45,467 --> 00:19:51,287
So it was like, it was kind of like they're trying to boil everyone, you're boiling in a frog kind of level.

318
00:19:51,586 --> 00:19:56,867
Like, so you didn't really notice it because we're supposed, we should be having deflation.

319
00:19:57,046 --> 00:20:09,027
So the price of this Campbell soup, if you have sound money, instead of 10 cents, it should go down, you know, it could go down to like 2 cents or something like, because of innovation and coming up with like, yeah, just new technology.

320
00:20:09,207 --> 00:20:10,727
It's going to keep driving the price down.

321
00:20:10,727 --> 00:20:18,287
but with low monetary debasement it just it it silently just took away all the gains from

322
00:20:18,287 --> 00:20:23,367
innovation and kind of kept the price somewhat steady and again it makes it the pernicious part

323
00:20:23,367 --> 00:20:29,347
about it is people it made it kind of hard to to see see it happen uh then the gloves came off in

324
00:20:29,347 --> 00:20:34,487
1971 and then they really started ripping uh and printing enormous amounts of money

325
00:20:34,487 --> 00:20:39,987
um i mean the other thing i mean just it's staggering to think about like look at this

326
00:20:39,987 --> 00:20:48,326
chart look at 1929 okay 1929 the great depression one of the critical worst you know financial

327
00:20:48,326 --> 00:20:54,207
events in you know recent u.s definitely u.s history uh look at the price it didn't even budge

328
00:20:55,046 --> 00:21:01,987
no one down it was a little bit staggering right and again this like you're underlying you're

329
00:21:01,987 --> 00:21:07,767
underlying the underlying uh denominator for your for your nation for your for your country it

330
00:21:07,767 --> 00:21:13,627
matters immensely. And we have the average Christian, the average person has no conception

331
00:21:13,627 --> 00:21:18,447
of these things and it matters a ton. It's a big part of why we're doing what we're doing is,

332
00:21:18,447 --> 00:21:26,546
again, even independent of Bitcoin, these are real problems that are basically the Christians

333
00:21:26,546 --> 00:21:30,267
will be facing, the church will be facing, people trying to minister will be facing,

334
00:21:30,707 --> 00:21:36,546
people trying to operate businesses and other nonprofit organizations are all going to have

335
00:21:36,546 --> 00:21:43,806
to deal with and reckon with these realities, there's no escaping them. And again, if you just

336
00:21:43,806 --> 00:21:49,907
stick your head in the ground and, or just get frustrated, get angry about them, again, it's

337
00:21:49,907 --> 00:21:56,927
great to know about this and to be angry. Okay, great. But if you don't have some way to avoid

338
00:21:56,927 --> 00:22:02,407
getting eviscerated by them, it really doesn't do you any good to hear, to talk about these things,

339
00:22:02,407 --> 00:22:07,806
right and and and just to reinforce what we were just talking about you know so money supply went

340
00:22:07,806 --> 00:22:14,107
up 40 what was it i'm trying to remember it was from 2020 to 2025 it was money supply went up 40

341
00:22:14,107 --> 00:22:21,487
40 was it 40 something 46 or something like that and ground beef basically went up about the same

342
00:22:21,487 --> 00:22:27,427
amount yeah 42 45 i think yeah and so you're like oh well then maybe that was just a one-off thing

343
00:22:27,427 --> 00:22:34,407
like again the Campbell soup yeah 2020 the price was 84 cents yeah like if you zoom in you don't

344
00:22:34,407 --> 00:22:42,727
need to but it was 84 cents and and now it's a dollar 24 so that's a 47 increase oh what are the

345
00:22:42,727 --> 00:22:48,066
odds yeah right yeah again you just it's hard to like it's just a Campbell soup the same size little

346
00:22:48,066 --> 00:22:54,667
tin can it's just tomatoes yep it went up the same amount as the money was debased well in the same

347
00:22:54,667 --> 00:23:00,247
And the crazy thing is it's, it's actually worse. Cause again, the, the, it's possible that the,

348
00:23:00,247 --> 00:23:05,607
you know, like I would, I would almost guarantee you that the, the material that the can is made

349
00:23:05,607 --> 00:23:11,306
out of is actually worse materials. Uh, I was out in Portland with you guys last week for the

350
00:23:11,306 --> 00:23:18,367
Bitcoin is for everyone, uh, conference. And, uh, at the bar, I went over to the bar and as,

351
00:23:18,507 --> 00:23:23,947
as a, you know, good Christian does, uh, I asked if they had any root beer and, uh, I'm a, I'm a

352
00:23:23,947 --> 00:23:27,927
sucker for like a good root beer. And so they said, Oh yeah, we've got root beer. This lady pulled out

353
00:23:27,927 --> 00:23:34,627
a can. It was a can of root beer. It was the best can I've ever held in my entire life. You could

354
00:23:34,627 --> 00:23:39,767
just tell it was a, it was a little bit heavier. It was like sturdier. And I just thought to myself,

355
00:23:39,767 --> 00:23:44,127
this is, this is crazy. Like I've never felt a can like this. And then the root beer was

356
00:23:44,127 --> 00:23:47,887
outrageous. It was delicious. It was really good. But again, a lot of these things, if you can,

357
00:23:48,187 --> 00:23:53,927
you find stuff from this era, they were stronger. You know, they were stronger, better, and a bunch

358
00:23:53,927 --> 00:23:58,507
of different ways. And so over time, that's another example of shrinkflation. It's not that

359
00:23:58,507 --> 00:24:04,347
we're getting the, it's not even that the same thing costs the same amount. It's a worse version

360
00:24:04,347 --> 00:24:09,127
of the thing still costs one more. We could do a show on like every single,

361
00:24:09,566 --> 00:24:15,066
like every item in a grocery store and what the impact has been on it. Like this is such a random

362
00:24:15,066 --> 00:24:21,767
one, but we buy cases of a Costco bottled water. Do you remember when they went from the old school,

363
00:24:21,767 --> 00:24:26,566
it was super thick and then all of a sudden one day you go in there and it was it was it was after

364
00:24:26,566 --> 00:24:33,727
2020 i i'm almost almost sure that it was like they reduced the amount of plastic in each bottle by a

365
00:24:33,727 --> 00:24:39,947
half and you like grab it and you literally can crush like if you have any sort of grip strength

366
00:24:39,947 --> 00:24:44,747
you can just crush the bottle like yeah i mean they just reduce because again you know plastic

367
00:24:44,747 --> 00:24:49,847
is an oil-based product well like oil prices went way up and they're trying to figure out a way to

368
00:24:49,847 --> 00:24:57,127
cut costs they sent the you know the bean counters to figure out ways to cut corners and uh yeah

369
00:24:57,127 --> 00:25:03,907
thinner glass material anything they can do to try to hide the hide the inflation yeah and again and

370
00:25:03,907 --> 00:25:10,047
this is like the dollar 50 hot dog yeah yep we mentioned that we mentioned just like yeah yeah

371
00:25:10,047 --> 00:25:17,507
no we mentioned what the ground beef is again the temptation is to cut corners right this is we we

372
00:25:17,507 --> 00:25:22,187
read, when we were writing Think I'm for Bitcoin, we read Gary North's book, Honest Money. And he

373
00:25:22,187 --> 00:25:27,167
talked about how this was something that happened all the time with wine. So as monetary debasement

374
00:25:27,167 --> 00:25:32,407
happened, the winemaker would be tempted to introduce a little bit of water into his wine

375
00:25:32,407 --> 00:25:36,907
in order to make it go farther and allow him to sell more of it and to make the same amount of

376
00:25:36,907 --> 00:25:45,287
profit that he was accustomed to making. And so again, it's this hidden tax that incentivizes you,

377
00:25:45,287 --> 00:25:53,586
that forces you basically to try to either be content with making less or in so doing tempts

378
00:25:53,586 --> 00:26:01,627
you to look for shortcuts in ways that are, in order to protect yourself, it basically tempts you

379
00:26:01,627 --> 00:26:07,187
to choose your own good over the good of your neighbor and over the glory of God by loving

380
00:26:07,187 --> 00:26:12,066
your neighbor. And so this is a huge deal. And so this is kind of what we were getting at with the

381
00:26:12,066 --> 00:26:19,287
title, again, is just looking at the, in reality, like inflation, at least monetary inflation,

382
00:26:19,787 --> 00:26:26,947
it is this theft. It's plain and simple. They're never going to describe it in those terms because

383
00:26:26,947 --> 00:26:30,927
that will, you know, nobody, people would freak out, but that's the reality of what they're,

384
00:26:31,007 --> 00:26:36,467
they know what they're doing. They're stealing from you because they know that they're passive

385
00:26:36,467 --> 00:26:41,826
aggressive. They know if they were to basically ask you to, you know, try to raise taxes here,

386
00:26:41,907 --> 00:26:45,086
we need to do this. We think it's going to cost more, you know, we'll raise taxes. You wouldn't

387
00:26:45,086 --> 00:26:50,207
do it. And so this is, this is just throughout, it's a passive aggressive way of getting the same

388
00:26:50,207 --> 00:26:55,306
result, uh, you know, without having to raise taxes and do something that would be unpopular

389
00:26:55,306 --> 00:26:59,687
politically with this, they can obfuscate, they can make me basically make up all kinds of reasons.

390
00:26:59,687 --> 00:27:04,027
They can blame it on their political predecessor. They can blame it on, you know, whatever else

391
00:27:04,027 --> 00:27:05,027
they want to blame it on,

392
00:27:05,447 --> 00:27:07,287
anything other than the truth.

393
00:27:08,086 --> 00:27:10,247
And so again, this is a huge deal.

394
00:27:10,387 --> 00:27:12,447
This has all kinds of downstream consequences

395
00:27:12,447 --> 00:27:16,086
and it's unsustainable for the long term.

396
00:27:17,267 --> 00:27:18,306
Yeah, a couple of years ago

397
00:27:18,306 --> 00:27:20,007
when we had the big,

398
00:27:20,306 --> 00:27:22,747
oh, I don't want to steal Lawrence Lippard's thing,

399
00:27:22,987 --> 00:27:25,227
but because I still think the big print

400
00:27:25,227 --> 00:27:25,947
is actually coming,

401
00:27:26,107 --> 00:27:27,287
but the COVID print,

402
00:27:27,647 --> 00:27:31,306
they printed seven or nine trillion.

403
00:27:31,826 --> 00:27:32,586
I can't remember which.

404
00:27:33,187 --> 00:27:33,306
Yeah.

405
00:27:33,306 --> 00:27:38,527
It was something like, it was over $7 trillion of money and just dumped it out into the marketplace.

406
00:27:40,227 --> 00:27:52,566
I actually made a post locally in my community, and I was warning all the small businesses to pay really close attention to all their input costs for all the goods and services that they offer.

407
00:27:53,127 --> 00:28:02,287
Because what the Federal Reserve, what our government counts on is they actually count on small businesses not paying attention and to not pass on those costs.

408
00:28:02,287 --> 00:28:07,306
so they print the massive amount of money and if everyone in concert if there was like some index

409
00:28:07,306 --> 00:28:12,867
that basically went out and and all businesses just raised their prices 40 percent all the

410
00:28:12,867 --> 00:28:16,687
politicians would be thrown out of office and we would have abolished the federal reserve

411
00:28:16,687 --> 00:28:22,227
decades ago yeah but it never happens and i'll so i'll give you an example so i know that like

412
00:28:22,227 --> 00:28:27,727
hops costs like to make beer it went up significantly i mean i don't know yeah i'm not gonna pull up

413
00:28:27,727 --> 00:28:34,847
the numbers but like i went into one of our local breweries and i said hey you guys probably need i

414
00:28:34,847 --> 00:28:41,847
know that your your costs just went up significantly you need to adjust your prices um and sure enough

415
00:28:41,847 --> 00:28:45,407
like several you know whatever it was within a month or so they they raised the price of each

416
00:28:45,407 --> 00:28:50,347
beer a dollar because it wasn't just that their prices went up 20 it was like 40 or it was very

417
00:28:50,347 --> 00:28:56,787
quickly the um anyways all that to say a lot of businesses and a lot of individuals they just take

418
00:28:56,787 --> 00:28:57,367
it in the chin.

419
00:28:57,847 --> 00:29:13,453
They try as hard as they can not to raise prices because they don want to hurt their customers and they don want to seem greedy and all this kind of stuff um but yeah i mean the most loving thing to do is to raise your prices so you don go out of business and you don disappear and sadly if you look at all the

420
00:29:13,453 --> 00:29:17,733
businesses that went out of went out over the last several years a lot of them it was just because

421
00:29:17,733 --> 00:29:23,473
they didn't adjust quickly enough yep you have huge corporations like starbucks when their their

422
00:29:23,473 --> 00:29:28,233
cost of milk goes up it's like instantaneous they're across the board all the drink prices go

423
00:29:28,233 --> 00:29:33,053
up because they're not just going to take that hit.

424
00:29:33,513 --> 00:29:39,753
So yeah, and this is, I mean, yeah, again, as we mentioned, that's the best possible

425
00:29:39,753 --> 00:29:40,333
case scenario.

426
00:29:40,453 --> 00:29:45,953
The best case scenario is that the providers are honest enough where they say, hey, we

427
00:29:45,953 --> 00:29:49,233
can't continue to offer what we have been given these constraints.

428
00:29:49,233 --> 00:29:50,553
And so we're going to go out of business.

429
00:29:50,873 --> 00:29:56,373
Again, there's plenty of other ways that they can go, you know, they can choose to prioritize

430
00:29:56,373 --> 00:30:03,113
their own existence by staying in business, by cheapening the materials. There's a fantastic

431
00:30:03,113 --> 00:30:10,573
video. Oh, I have to find it. It's basically, it's this video called why the FDA knowingly

432
00:30:10,573 --> 00:30:16,313
approves of dangerous drugs. And it basically comes to, it make a lot, there's a number of

433
00:30:16,313 --> 00:30:21,253
different factors, but like they basically, they started, they were making drugs in one place.

434
00:30:21,253 --> 00:30:26,353
And then they basically started making them someplace else, making them in India.

435
00:30:26,713 --> 00:30:32,633
And they know, they know categorically that like a good percentage of these drugs are dangerous.

436
00:30:32,973 --> 00:30:43,333
And yet the cost like both to their own reputation or whatever to basically to not having access to these drugs is such that they continue to approve.

437
00:30:43,333 --> 00:30:50,313
And like this one, the video talks about a journalist who went through basically there was a whistleblower working for the company.

438
00:30:50,313 --> 00:30:54,733
Then there was a journalist who took that information and followed up.

439
00:30:55,293 --> 00:31:03,933
And basically, they found there's a ton of corruption on the ground in India where basically they knew what was going on.

440
00:31:03,993 --> 00:31:05,373
They were cut into the profits.

441
00:31:06,293 --> 00:31:08,593
And so they basically just kind of pushed it under the rug.

442
00:31:08,593 --> 00:31:11,253
and then even on the side,

443
00:31:11,713 --> 00:31:12,733
the American journalist

444
00:31:12,733 --> 00:31:13,573
who was kind of doing this

445
00:31:13,573 --> 00:31:15,793
investigatory research,

446
00:31:16,213 --> 00:31:16,753
just basically,

447
00:31:16,893 --> 00:31:18,113
he kind of talked about it

448
00:31:18,113 --> 00:31:20,673
with one of his employers

449
00:31:20,673 --> 00:31:23,913
and there was some relationship

450
00:31:23,913 --> 00:31:27,053
between them and a media conglomerate

451
00:31:27,053 --> 00:31:28,273
to where they kind of

452
00:31:28,273 --> 00:31:29,353
pushed it under the rug too.

453
00:31:29,513 --> 00:31:30,813
Like this regulatory body

454
00:31:30,813 --> 00:31:31,873
that was supposed to be

455
00:31:31,873 --> 00:31:33,953
providing accountability

456
00:31:33,953 --> 00:31:35,933
to these pharmaceutical companies.

457
00:31:36,073 --> 00:31:37,693
They're basically all in bed together.

458
00:31:37,693 --> 00:31:42,893
They're all just acting in such a way that is against the best interests of people.

459
00:31:43,493 --> 00:31:49,573
And then they even talked about to a further degree that the United States, we still get the best, not great drugs.

460
00:31:50,013 --> 00:31:53,653
There's plenty of other drugs that are basically that are shipped.

461
00:31:53,993 --> 00:31:59,493
The worst versions of these are sent to the poorest people on earth, people who can't afford to get the better stuff.

462
00:31:59,873 --> 00:32:02,833
And so the whole thing is just incredibly corrupt.

463
00:32:03,413 --> 00:32:06,013
And again, all of this is entirely predictable.

464
00:32:06,573 --> 00:32:10,113
One of my favorite sayings is that logic is a time machine.

465
00:32:10,413 --> 00:32:12,213
Like you can predict all of these things.

466
00:32:12,213 --> 00:32:16,673
You could have predicted all of them 20, 30 years ago, 50 years ago, 100 years ago, if

467
00:32:16,673 --> 00:32:20,773
you saw the baseline trajectory of doing some of these things.

468
00:32:21,293 --> 00:32:24,573
And so this is where, I mean, so this is why some of these things matter a ton.

469
00:32:24,833 --> 00:32:30,693
I think, Ryan, one of the things I want to do, I want to show this video that was put

470
00:32:30,693 --> 00:32:39,053
together by uh this this son of some random guy i i met one time his name was uh elijah finley he's

471
00:32:39,053 --> 00:32:45,233
like yeah we'll see but uh he uh he basically is working together with marty on this uh series of

472
00:32:45,233 --> 00:32:49,373
videos and they posted one the other day about the creation of the federal reserve that kind of talks

473
00:32:49,373 --> 00:32:54,453
about these things i really feel like i think this one might have been ed it was it was but still he's

474
00:32:54,453 --> 00:32:58,633
working on yeah he's working on these but this will be how i just worked with you guys haven't

475
00:32:58,633 --> 00:33:00,573
seen this. This is, I mean, you

476
00:33:00,573 --> 00:33:02,173
kind of got to see it. That went viral.

477
00:33:03,273 --> 00:33:04,553
Yeah. Millions

478
00:33:04,553 --> 00:33:05,413
and millions of videos.

479
00:33:05,873 --> 00:33:08,293
2.1 million on

480
00:33:08,293 --> 00:33:10,513
people. People are

481
00:33:10,513 --> 00:33:12,173
waking up. That was another reason why

482
00:33:12,173 --> 00:33:14,273
I wanted to talk about this today. Like, it's

483
00:33:14,273 --> 00:33:16,433
getting difficult for them to hide it

484
00:33:16,433 --> 00:33:18,333
and it's only going to get worse.

485
00:33:18,733 --> 00:33:20,513
Yeah. Here we go. Jekyll Island,

486
00:33:20,633 --> 00:33:22,653
November 1910. Seven

487
00:33:22,653 --> 00:33:24,473
bankers meeting in secret to create

488
00:33:24,473 --> 00:33:26,513
America's central bank. We just

489
00:33:26,513 --> 00:33:27,353
can't call it that.

490
00:33:28,633 --> 00:33:37,613
The 1907 panic nearly destroyed us.

491
00:33:37,833 --> 00:33:38,633
Banks failed.

492
00:33:38,973 --> 00:33:39,993
Fortunes vanished.

493
00:33:40,293 --> 00:33:42,413
We want to control America's money supply.

494
00:33:42,873 --> 00:33:46,253
Create booms, trigger busts, and profit from both.

495
00:33:46,313 --> 00:33:47,353
And how will we do that?

496
00:33:47,353 --> 00:33:52,073
We'll create money from nothing, loan it to the government, and charge interest.

497
00:33:52,533 --> 00:33:54,313
Legal counterfeiting, my friends.

498
00:33:55,033 --> 00:33:56,433
But there's a cost.

499
00:33:57,013 --> 00:34:00,273
Every dollar we print steals value from existing dollars.

500
00:34:00,713 --> 00:34:03,193
It's a hidden tax that flows directly to us.

501
00:34:03,553 --> 00:34:04,553
And it gets worse.

502
00:34:04,933 --> 00:34:08,853
If we ever get off the gold standard, governments can print money for wars.

503
00:34:09,333 --> 00:34:11,033
Endless wars become possible.

504
00:34:11,793 --> 00:34:12,473
And profitable.

505
00:34:13,413 --> 00:34:17,713
Since Americans hate central banks, we'll call it the Federal Reserve.

506
00:34:18,513 --> 00:34:19,893
Sounds governmental, doesn't it?

507
00:34:20,213 --> 00:34:20,853
It's not.

508
00:34:20,853 --> 00:34:25,433
The president will appoint board members, but we'll pick who he appoints.

509
00:34:25,433 --> 00:34:33,533
We'll have 12 retail banks. Looks decentralized, democratic even. But New York banks control them all. That's us.

510
00:34:34,073 --> 00:34:37,073
You're probably wondering how we're going to get this through Congress.

511
00:34:37,073 --> 00:34:45,033
December 23rd, 1913. Most of Congress home for Christmas. Perfect timing for passing unpopular legislation.

512
00:34:45,233 --> 00:34:50,833
I'll publicly oppose our own bill in Congress. They'll pass it thinking they beat Wall Street.

513
00:34:50,833 --> 00:34:54,873
We'll fund university chairs, write the textbooks.

514
00:34:55,413 --> 00:34:57,833
They'll teach our system as economic science.

515
00:34:58,593 --> 00:34:58,953
Beautiful.

516
00:34:59,933 --> 00:35:04,913
Every American born after this will inherit debt on money we created from nothing.

517
00:35:05,693 --> 00:35:07,033
Generational servitude.

518
00:35:07,653 --> 00:35:08,553
The Federal Reserve.

519
00:35:09,433 --> 00:35:10,073
Not federal.

520
00:35:10,473 --> 00:35:11,213
No reserves.

521
00:35:11,593 --> 00:35:14,733
But everyone will think it's their government protecting them.

522
00:35:15,033 --> 00:35:15,573
Good afternoon.

523
00:35:15,573 --> 00:35:23,033
yeah so again this is this is what we're talking about this is the source of a lot of these things

524
00:35:23,033 --> 00:35:28,013
is again because governments can print money out of thin air again they're they're going to continue

525
00:35:28,013 --> 00:35:32,313
to do it because it gives them power because it gives them control uh and because they can make

526
00:35:32,313 --> 00:35:35,673
themselves a ton of money in the short term again a lot of these things are presented as if they're

527
00:35:35,673 --> 00:35:40,773
in our interest when in reality they're in the interest of a very small group of people uh who

528
00:35:40,773 --> 00:35:43,293
who, you know, benefit both personally and professionally.

529
00:35:43,973 --> 00:35:47,513
Yeah. And where the, where this is going, like why we,

530
00:35:47,693 --> 00:35:52,593
we sound a little bit arrogant talking about, you know, predicting the future.

531
00:35:52,813 --> 00:35:54,853
Look at our debt, look at the national debt,

532
00:35:55,013 --> 00:35:56,673
look at the interest expense on the debt,

533
00:35:56,673 --> 00:36:01,853
and then look at the unfunded liabilities that the U S government has.

534
00:36:02,113 --> 00:36:04,373
And it's, it's, I don't know,

535
00:36:04,413 --> 00:36:06,733
it's over a hundred trillion dollars of unfunded liabilities.

536
00:36:06,733 --> 00:36:09,613
It's an astronomical amount of money.

537
00:36:09,613 --> 00:36:13,253
and yeah, at the end of the day,

538
00:36:13,253 --> 00:36:14,753
they're not going to default on that debt.

539
00:36:14,893 --> 00:36:15,713
They're going to pay it.

540
00:36:15,833 --> 00:36:18,633
It's just, they're going to pay it in newly printed money.

541
00:36:18,753 --> 00:36:22,913
And so it's going to continually debase everyone's money.

542
00:36:23,693 --> 00:36:26,053
And yeah, so we can expect higher inflation

543
00:36:26,053 --> 00:36:27,633
every year from here on out.

544
00:36:28,573 --> 00:36:30,013
And this is one of the things to that point

545
00:36:30,013 --> 00:36:32,193
about us being arrogant about, you know,

546
00:36:32,193 --> 00:36:32,953
talking about these things,

547
00:36:33,033 --> 00:36:34,473
talking confidently about these things.

548
00:36:34,953 --> 00:36:38,153
One of the, again, I understand that objection

549
00:36:38,153 --> 00:36:39,313
to a certain degree,

550
00:36:39,313 --> 00:36:41,353
because there's verses that talk about,

551
00:36:41,473 --> 00:36:42,513
oh, who are you?

552
00:36:42,633 --> 00:36:44,213
You don't know what's going to happen tomorrow.

553
00:36:44,353 --> 00:36:45,093
It's like, okay, great.

554
00:36:45,173 --> 00:36:46,473
Yeah, we don't know what's going to happen tomorrow.

555
00:36:46,733 --> 00:36:47,813
That is true to a point.

556
00:36:48,293 --> 00:36:51,133
At the same time, you see King David, right?

557
00:36:51,193 --> 00:36:53,513
When King David, he's starting to lament

558
00:36:53,513 --> 00:36:55,073
and get discouraged when he thinks about

559
00:36:55,073 --> 00:36:56,533
the prosperity of the wicked.

560
00:36:57,333 --> 00:36:59,473
And then his, and the end of,

561
00:36:59,573 --> 00:37:00,453
I can't remember which psalm this is,

562
00:37:00,673 --> 00:37:02,433
but at the end, he draws consolation

563
00:37:02,433 --> 00:37:05,073
from the fact that he remembers their end.

564
00:37:05,633 --> 00:37:08,033
He remembers that you can only deny

565
00:37:08,033 --> 00:37:12,673
sowing and reaping for so long until the chickens come home to roost. And so like, we're just

566
00:37:12,673 --> 00:37:16,873
basically talking about like what we're, what we're describing is, listen, you can deny reality

567
00:37:16,873 --> 00:37:21,953
for so long, but you can't do it forever. It's going to collapse. And again, actions have

568
00:37:21,953 --> 00:37:26,173
consequences. There's consequences to the things that they're doing. And again, this isn't the

569
00:37:26,173 --> 00:37:29,233
first time this has happened. This has happened in numerous countries all over the world. And we can

570
00:37:29,233 --> 00:37:36,133
see, you know, patterns emerging that, that, you know, basically demonstrate this reality and,

571
00:37:36,133 --> 00:37:43,253
where this is going. Let's see. Here's another one from Lynn Alden here. Let's do this one.

572
00:37:46,153 --> 00:37:51,533
Lynn Alden. Here we go. If supply chain disruptions were the main driver of price

573
00:37:51,533 --> 00:37:55,713
inflation rather than the growth of the money supply, then aggregate prices should go back down

574
00:37:55,713 --> 00:37:59,533
to their pre-COVID baseline rather than remain at a permanent higher plateau and above trend.

575
00:38:00,213 --> 00:38:04,573
So this is consumer price index for all consumers. It just continues to go up.

576
00:38:04,573 --> 00:38:11,853
there is no real going down that was in the middle of so that was back in 2023 right or yeah

577
00:38:11,853 --> 00:38:18,313
when you wrote that that was uh first it was putin price hike according to biden that's why the prices

578
00:38:18,313 --> 00:38:23,693
were blowing up not the 40 increase in the money supply it was putin and then it was the covid

579
00:38:23,693 --> 00:38:28,673
covid price you have shock or whatever it was i can't remember the the terminology but there

580
00:38:28,673 --> 00:38:34,793
were several excuses during that little period that they blamed it all on uh and you know greedy

581
00:38:34,793 --> 00:38:41,693
greedy uh grocery store owners that was also so i think those were the top three yeah um

582
00:38:41,693 --> 00:38:47,413
yeah sadly too many people just watch they watch the news and they accept oh okay yeah

583
00:38:47,413 --> 00:38:53,653
yeah it was this and then they turn around oh that's a bummer um and again the thing that just

584
00:38:53,653 --> 00:39:01,833
drives me nuts is just, again, show me your incentives. Look at the incentives. Governments

585
00:39:01,833 --> 00:39:07,113
are incentivized to, and we've seen this, everyone could give because we've had Trump and Biden.

586
00:39:07,293 --> 00:39:13,793
Everyone can pick their examples. They can cherry pick their examples. Politicians lie to your face.

587
00:39:13,793 --> 00:39:18,653
They lie directly to your face over and over and over again to try to protect themselves,

588
00:39:18,833 --> 00:39:23,573
to suit their own interests. And so a lot of this is happening in all these places.

589
00:39:23,653 --> 00:39:32,513
If you tell people something that whoever the president is doesn't want to hear, they'll fire you and they'll find somebody else to parrot the words that they want you to say.

590
00:39:32,713 --> 00:39:34,493
This is the reality everywhere.

591
00:39:35,153 --> 00:39:45,693
I was listening to the podcast that Marty Bent, friend of the program, recorded with David Collum and Rudy Havenstein.

592
00:39:46,053 --> 00:39:46,893
Who is Haverstein?

593
00:39:47,373 --> 00:39:48,073
I can't remember which one it is.

594
00:39:48,133 --> 00:39:48,733
Havenstein, I think.

595
00:39:49,073 --> 00:39:49,553
Havenstein.

596
00:39:49,693 --> 00:39:50,173
Havenstein.

597
00:39:50,173 --> 00:39:52,573
Just a glorious, glorious interview.

598
00:39:52,813 --> 00:39:53,213
Well done.

599
00:39:53,653 --> 00:40:02,273
And, uh, and they just talk about, at one point, I can't remember if it was Dave or Rudy, basically asked, when was the last time that a powerful person actually went to jail?

600
00:40:03,473 --> 00:40:06,213
Like really, there really had consequences for their actions.

601
00:40:06,293 --> 00:40:07,233
When was the last time to have him?

602
00:40:07,733 --> 00:40:11,913
And then basically they came out and said that it was like Ken, Ken Lay back when Enron happened.

603
00:40:12,893 --> 00:40:16,753
And, and so this makes me talking about, Hey, yeah, he kind of reached the end of his usefulness.

604
00:40:17,013 --> 00:40:18,693
You know, the whole thing actually blew up.

605
00:40:18,733 --> 00:40:19,993
It was going to be difficult for him to come back.

606
00:40:19,993 --> 00:40:25,973
they were saying he was the he was the largest political donor to george w bush um so again

607
00:40:25,973 --> 00:40:31,593
conceivably had a lot of political cachet uh that that didn't help him but again since then they

608
00:40:31,593 --> 00:40:35,133
were just trying to think like who really who really gets caught who really gets caught and

609
00:40:35,133 --> 00:40:40,653
nobody and that includes i mean you could argue epstein you can argue that he died if you think

610
00:40:40,653 --> 00:40:45,693
he died uh but then you have somebody like they're literally talking about releasing gillaine maxwell

611
00:40:45,693 --> 00:40:51,313
like that didn't they are and he moved i think i saw yeah didn't they today or something yeah it

612
00:40:51,313 --> 00:40:55,733
was just the last couple days they moved her to like a uh you know a swankier prison basically

613
00:40:55,733 --> 00:41:01,493
and are considering like they're considering pardoning her they're considering pardoning

614
00:41:02,313 --> 00:41:09,653
diddy like p p diddy for all that like it is it is absurd like i mean just the the brazenness

615
00:41:09,653 --> 00:41:12,413
of the corruption that we're seeing is bonkers.

616
00:41:12,753 --> 00:41:13,593
It is crazy.

617
00:41:14,613 --> 00:41:17,893
And again, you're going to get to the point.

618
00:41:17,953 --> 00:41:18,553
There's one of these tweets.

619
00:41:18,633 --> 00:41:19,473
Let me see if I can find it.

620
00:41:21,093 --> 00:41:22,493
It basically talks about how,

621
00:41:22,493 --> 00:41:24,833
let me see if I can find it.

622
00:41:24,933 --> 00:41:27,413
It talks about how these things usually end with pitchforks.

623
00:41:29,813 --> 00:41:30,993
I can't think of where it is.

624
00:41:32,233 --> 00:41:33,873
Basically, that was kind of the idea.

625
00:41:33,973 --> 00:41:35,493
Just basically, these things don't end well.

626
00:41:35,493 --> 00:41:37,393
They don't like happily reversed.

627
00:41:37,393 --> 00:41:44,133
It's like, no, these end, a lot of revolutions happen because of currency devaluation.

628
00:41:44,373 --> 00:41:46,713
You can observe this, look at the history and observe it.

629
00:41:47,913 --> 00:42:03,033
Yeah, it's, yeah, I mean, the little saying by, I think it was Henry Ford, he famously said that if people knew what was going on in the financial system, they would revolt on the streets the next day.

630
00:42:03,033 --> 00:42:09,113
yeah this is like and that was like 100 that was over 100 years ago yeah 120 like 120 years ago

631
00:42:09,113 --> 00:42:16,733
that this has been going on and yeah but ryan but ryan we're so much smarter now we're so much

632
00:42:16,733 --> 00:42:22,093
better now you know like it's it's what c.s lewis called chronological chronological snobbery

633
00:42:22,093 --> 00:42:26,313
basically that like we're we're smarter we're better now than we were than people were 100

634
00:42:26,313 --> 00:42:32,713
years ago or a few hundred it's it's like nothing changes like it's almost as if there's consequences

635
00:42:32,713 --> 00:42:40,593
is to allowing the government to educate all of our kids because they i in general i would say the

636
00:42:40,593 --> 00:42:48,353
majority of kids you know educated by the government don't question things very much

637
00:42:48,353 --> 00:42:52,733
like you know what i mean they're just they in general they're just trusting that the government

638
00:42:52,733 --> 00:42:59,953
is always looking out for them yeah um yeah yeah here's another example this is from the aforementioned

639
00:42:59,953 --> 00:43:04,973
column, Dave column. I got this from Rudy Havenstein's sub stack. It captures my frustration.

640
00:43:05,573 --> 00:43:09,993
Do not show me a plot that goes back just a few years. Do not show me a plot without inflation

641
00:43:09,993 --> 00:43:15,373
correction. Do not bother to show me some technical jargon. Show me the history. So there's this

642
00:43:15,373 --> 00:43:21,833
image. When I see housing charts that only go back 10 years, it's like, guys, come on. Like,

643
00:43:21,873 --> 00:43:25,333
this is one of these, when you have to be smarter than this, you have to be smarter than the data.

644
00:43:25,333 --> 00:43:29,233
You have to question the data that you're being presented. You have to ask, why am I being shown

645
00:43:29,233 --> 00:43:29,533
this.

646
00:43:32,033 --> 00:43:32,593
Why?

647
00:43:33,173 --> 00:43:43,159
Oh we need we need wisdom Like we need we need to be able to to back out and just think about the technological progress

648
00:43:43,159 --> 00:43:45,280
and innovation that's been made

649
00:43:45,280 --> 00:43:47,419
over the last like 150 years.

650
00:43:48,459 --> 00:43:51,919
And like we're at the most unaffordable,

651
00:43:53,119 --> 00:43:54,839
like housing's the most unaffordable

652
00:43:54,839 --> 00:43:57,300
it's ever been in history in 2025.

653
00:43:58,119 --> 00:44:00,760
So like not like all the innovation,

654
00:44:00,760 --> 00:44:09,019
all the progress has all been wiped out and stolen like it should be cheaper and like that at

655
00:44:09,019 --> 00:44:15,319
any time in history to produce a house for someone like shelter over a person's head so that they can

656
00:44:15,319 --> 00:44:20,540
live and in in fact we've made it the most expensive in history that's absolutely that's

657
00:44:20,540 --> 00:44:26,560
absolutely insane and when you think about what we're capable of doing and then yeah somehow you're

658
00:44:26,560 --> 00:44:32,359
like how like it's obviously it's not just the monetary debasement the monetary debasement is a

659
00:44:32,359 --> 00:44:38,499
huge component of it um broken government government taking bribes like i mean there's

660
00:44:38,499 --> 00:44:45,200
there's uh there's obviously other things that are contributing to it but yeah it's it's kind

661
00:44:45,200 --> 00:44:49,780
of breathtaking when you really when you really sit back and think how in the world are we at this

662
00:44:49,780 --> 00:44:54,780
place now ryan we've talked a lot about food in this episode so maybe some people are home they're

663
00:44:54,780 --> 00:45:00,119
sitting there going, well, hey, you're just talking about food. It's really bad when it

664
00:45:00,119 --> 00:45:03,560
comes to food, but I mean, listen, probably everything else is still great, right? No,

665
00:45:03,979 --> 00:45:08,459
that's not how that works. Here we go. Charlie Bilello, price increases over the last five years.

666
00:45:08,459 --> 00:45:13,599
This is as of today. Price increases over the last five years. CPI on new cars. This is, again,

667
00:45:13,740 --> 00:45:18,060
the official numbers. This is the official numbers on these things, which actually everyone

668
00:45:18,060 --> 00:45:24,619
acknowledges aren't real. CPI on new cars, 21%. Okay. So you're talking 4% a year.

669
00:45:24,780 --> 00:45:29,939
at least. No, what is that? Yeah. Five times four, yeah. So 4%, everyone knows that's not right.

670
00:45:29,939 --> 00:45:38,079
But family health insurance, 24%. So 6% a year there. CPI food at home, 24%.

671
00:45:38,639 --> 00:45:47,959
CPI shelter, almost 28%. CPI food away from home, 30%. Used cars, used cars are up 32.9%.

672
00:45:47,959 --> 00:45:50,959
CPI electricity, almost 38%.

673
00:45:50,959 --> 00:45:53,700
Transportation, 43.4%.

674
00:45:53,700 --> 00:45:56,280
Gasoline, 43.9%.

675
00:45:56,280 --> 00:45:58,639
Home prices, 51.6%.

676
00:45:58,639 --> 00:46:01,399
Gas utilities, 56.1%.

677
00:46:01,399 --> 00:46:03,720
Fuel oil, 57.7%.

678
00:46:03,720 --> 00:46:06,019
Auto insurance, 60.5%.

679
00:46:06,019 --> 00:46:07,159
And a dozen eggs.

680
00:46:07,540 --> 00:46:12,079
Now, again, this is where there's more to do with like in addition to the CPI.

681
00:46:12,419 --> 00:46:12,939
Burn flu.

682
00:46:13,099 --> 00:46:13,659
Yeah, exactly.

683
00:46:13,659 --> 00:46:20,679
I've got more situational stuff, but a dozen eggs is up 150%, 157%.

684
00:46:20,679 --> 00:46:22,999
So again, this is broad.

685
00:46:23,280 --> 00:46:24,579
This is happening everywhere.

686
00:46:25,720 --> 00:46:28,139
This isn't just something you can just isolate and point to.

687
00:46:28,200 --> 00:46:33,260
Oh, this is just because there was a bird flu in the Midwest.

688
00:46:33,619 --> 00:46:34,659
It's just not that.

689
00:46:34,659 --> 00:46:38,619
There's something more systemic going on, and it's not sustainable.

690
00:46:40,019 --> 00:46:40,740
Let's see here.

691
00:46:40,800 --> 00:46:42,780
We've got this one as well from Peter Schmidt.

692
00:46:42,919 --> 00:46:43,200
Go ahead.

693
00:46:43,659 --> 00:46:44,720
I don't know.

694
00:46:44,979 --> 00:46:45,679
Yeah, it's just interesting.

695
00:46:45,879 --> 00:46:49,339
I just noticed that the things that are hard to print are the highest.

696
00:46:49,599 --> 00:46:49,939
Correct.

697
00:46:50,379 --> 00:46:50,519
Yep.

698
00:46:50,599 --> 00:46:53,579
Fuel, gas, home prices.

699
00:46:54,220 --> 00:46:54,419
Yeah.

700
00:46:54,579 --> 00:47:01,060
Although, yeah, obviously the home prices also, there's some external factors going into that too.

701
00:47:01,319 --> 00:47:03,879
But, yeah.

702
00:47:04,479 --> 00:47:04,919
Definitely.

703
00:47:06,280 --> 00:47:06,959
Here we go.

704
00:47:06,959 --> 00:47:09,899
So this is from Peter Schmidt at The 92ers.

705
00:47:10,040 --> 00:47:13,060
Courtesy of a recent Substack post by the aforementioned Rudy Havenstein.

706
00:47:13,659 --> 00:47:15,379
Insights from the Raven of Zurich.

707
00:47:15,599 --> 00:47:18,439
State bankruptcy is a one-time surgical intervention,

708
00:47:18,800 --> 00:47:22,560
while inflation is a permanent poisoning of the very bloodstream of a society.

709
00:47:23,260 --> 00:47:24,159
He was correct.

710
00:47:24,459 --> 00:47:24,800
Again.

711
00:47:25,439 --> 00:47:29,519
So this is like, what is the, is it leukemia?

712
00:47:29,740 --> 00:47:31,819
It's like when you have cancer in your blood?

713
00:47:33,499 --> 00:47:34,260
We're pretty sure.

714
00:47:34,560 --> 00:47:35,459
Yeah, I'm pretty sure that's what it is.

715
00:47:35,619 --> 00:47:37,679
So yeah, this is effectively leukemia.

716
00:47:37,679 --> 00:47:42,319
We're going through monetary leukemia.

717
00:47:42,319 --> 00:47:46,999
We're just kind of being killed a little bit at a time.

718
00:47:47,819 --> 00:47:49,240
So these are adult milestones.

719
00:47:49,519 --> 00:47:55,459
So from in 1983, over 80% of people, 80% of 30-year-olds were living on their own.

720
00:47:55,899 --> 00:47:59,319
Now in 2023, we're down to about 63%.

721
00:47:59,979 --> 00:48:06,040
30-year-olds in 1983 who had been married, that we were almost at 80%.

722
00:48:06,040 --> 00:48:08,959
Now we're down somewhere in the 40%.

723
00:48:08,959 --> 00:48:17,839
live with a child that was at 60, a little bit under 60% in 1983, and now is right down near 30%.

724
00:48:17,839 --> 00:48:24,979
And then own their own home. It was about 50% in 1983, and it's closer to 30% in 2023.

725
00:48:25,439 --> 00:48:35,179
So again, you have this basic infantilization of the people. Delayed adolescence is what you're

726
00:48:35,179 --> 00:48:40,280
experiencing. You're seeing more and more. We experienced this when we were in Uruguay. We

727
00:48:40,280 --> 00:48:44,799
were living in Uruguay for a number of years. It was totally common because of these same dynamics

728
00:48:44,799 --> 00:48:50,060
to live with your parents until you're around 40. You know, late, like 30s, 40s, totally normal.

729
00:48:50,379 --> 00:48:53,639
And then, you know, people would get married later. They'd have kids later. You'd have kids

730
00:48:53,639 --> 00:48:59,359
in your late 30s, early 40s. And that was just totally, totally a normal thing because of, you

731
00:48:59,359 --> 00:49:04,099
know, the fact that it's just, it's so expensive to kind of get life underneath of your feet

732
00:49:04,099 --> 00:49:08,540
where you can afford to live it on your own without needing to rely on your parents.

733
00:49:09,299 --> 00:49:09,439
Yeah.

734
00:49:09,760 --> 00:49:18,379
These charts should be a huge signal that there's an enormous amount of sickness in our country.

735
00:49:19,319 --> 00:49:21,459
Those aren't charts of health.

736
00:49:22,580 --> 00:49:24,540
And they're just getting worse.

737
00:49:24,540 --> 00:49:28,280
At the end of the day, it kills optimism.

738
00:49:28,760 --> 00:49:33,679
You look at that and they're like, which one of those looks like it's going to be better next year?

739
00:49:33,679 --> 00:49:35,419
And I was like, no, the answer is none of them.

740
00:49:35,919 --> 00:49:37,619
The same thing with our financial picture.

741
00:49:39,439 --> 00:49:40,599
Yeah, it's really frustrating.

742
00:49:41,119 --> 00:49:46,580
And yet, are our leaders talking about actually solving these issues?

743
00:49:46,720 --> 00:49:47,119
And they're not.

744
00:49:47,240 --> 00:49:56,280
I mean, we had Musk give it a Hail Mary effort through Doge to try to trim just a little bit of the fat off a government.

745
00:49:57,399 --> 00:49:59,519
At least half the country revolted.

746
00:50:00,159 --> 00:50:01,720
And here, I'm going to be fair here.

747
00:50:01,720 --> 00:50:04,679
neither the Republicans or Democrats have an,

748
00:50:04,819 --> 00:50:06,919
politicians have an appetite for any sort of cuts.

749
00:50:07,339 --> 00:50:10,959
Like there's a, I don't know,

750
00:50:11,060 --> 00:50:14,939
any, any cut to any government program

751
00:50:14,939 --> 00:50:17,339
in a politician's own district,

752
00:50:17,339 --> 00:50:20,220
they'll silently go and try to lobby to,

753
00:50:20,260 --> 00:50:21,799
to get to, to stay.

754
00:50:21,959 --> 00:50:22,999
That's the reality.

755
00:50:22,999 --> 00:50:24,659
Like nobody wants, neither side.

756
00:50:24,659 --> 00:50:26,399
And so that's why it, I mean,

757
00:50:26,639 --> 00:50:28,419
effectively it was all for nothing

758
00:50:28,419 --> 00:50:31,139
and the budget is going to be completely blown out.

759
00:50:31,139 --> 00:50:34,700
I think we'll be over $2 trillion deficit for the year.

760
00:50:34,899 --> 00:50:35,999
I think that's what we're on pace for.

761
00:50:36,919 --> 00:50:37,060
Yep.

762
00:50:37,299 --> 00:50:38,080
Just going to be worse.

763
00:50:38,599 --> 00:50:39,519
It will be worse next year.

764
00:50:40,220 --> 00:50:42,799
So I think we're at the terminal stage.

765
00:50:44,379 --> 00:50:47,540
Everyone's basically just giving up on fixing this.

766
00:50:47,899 --> 00:50:48,080
Yeah.

767
00:50:48,419 --> 00:50:53,939
It's because, I mean, realistically, you can't get away from the black hole.

768
00:50:55,080 --> 00:50:57,599
We're at the point where you're being sucked into the black hole.

769
00:50:57,599 --> 00:51:02,220
even i mean we've talked about this before but they were at the point where this year the interest

770
00:51:02,220 --> 00:51:09,659
on the on the debt surpassed the the military budget defense budget it's just like i mean we're

771
00:51:09,659 --> 00:51:16,260
just so out of touch with reality you can't even you can't even imagine uh and again like the the

772
00:51:16,260 --> 00:51:20,679
measures that are being talked about are just too little too late i mean like the the one the one

773
00:51:20,679 --> 00:51:25,819
that was actually interesting was the you know trying to buy bitcoin to pay down the debt uh

774
00:51:25,819 --> 00:51:31,720
yeah again it's it still is possible there's still i mean you had uh besant today scott besant

775
00:51:31,720 --> 00:51:36,240
uh who just what did he get moved to he was the treasury secretary and now they made him something

776
00:51:36,240 --> 00:51:42,999
else uh i don't know i can't it was like they announced it yesterday or something yes or

777
00:51:42,999 --> 00:51:48,280
yesterday or the day before or something i don't know but but yeah i mean he he certainly is aware

778
00:51:48,280 --> 00:51:53,139
of these things he's you know values bitcoin says it's one of the most important things in in the

779
00:51:53,139 --> 00:51:58,619
world today. And so again, he's got his, it seems like he has his eye on it, but you know, whether

780
00:51:58,619 --> 00:52:03,240
or not they're going to actually do it and follow through on that, especially once it gets beyond the

781
00:52:03,240 --> 00:52:08,599
Trump administration. I mean, that's something that is, you know, yet to be seen, but, and then

782
00:52:08,599 --> 00:52:13,299
even if it did, like, even if it did, like, let's, I mean, the crazy thing is like, what if Bitcoin

783
00:52:13,299 --> 00:52:16,799
does go to a million dollars? Do you think for a second that the United States is just going to

784
00:52:16,799 --> 00:52:20,859
sell it in order to pay down their debt? Like, I don't, I don't have, I don't have any expectation

785
00:52:20,859 --> 00:52:32,439
Because at that point, if it becomes like this strategic instrument, then they're just going to hold on to it forever and, you know, I don't know, take out loans again or something crazy.

786
00:52:32,679 --> 00:52:33,519
Like they're just.

787
00:52:34,879 --> 00:52:36,260
The dollar is doomed.

788
00:52:36,780 --> 00:52:36,959
Yeah.

789
00:52:37,099 --> 00:52:38,939
How long it lasts.

790
00:52:39,060 --> 00:52:40,359
I mean, we're going to still use it.

791
00:52:41,280 --> 00:52:41,679
I don't know.

792
00:52:41,720 --> 00:52:46,720
It always takes longer for things to come home to roost.

793
00:52:47,060 --> 00:52:47,499
Yeah.

794
00:52:47,499 --> 00:52:52,659
Um, you know, I think we've heard a lot of people talk like people will, like any country

795
00:52:52,659 --> 00:52:56,879
that has really, really high inflation, they still use that, you know, their country's

796
00:52:56,879 --> 00:52:58,619
native currency, but they won't save in it.

797
00:52:58,700 --> 00:53:00,419
They'll save in anything but the currency.

798
00:53:00,419 --> 00:53:04,179
So I think the U S is probably going to, it's going to be something similar to that.

799
00:53:04,899 --> 00:53:08,720
Um, but yeah, I mean, at the end of the day, it is doomed.

800
00:53:08,720 --> 00:53:15,859
And, um, I mean, I, I'll, I think we'll predict, I mean, I'll predict that we do some sort

801
00:53:15,859 --> 00:53:21,080
of transition that involved bitcoin at some point i think it's the it would be in our best interest

802
00:53:21,080 --> 00:53:28,899
um i think more americans own bitcoin now than gold yep uh and that's only increasing so it's

803
00:53:28,899 --> 00:53:37,819
we have all the incentives for the u.s to encourage um bitcoin to be like a national

804
00:53:37,819 --> 00:53:44,019
savings instrument yep you know as we as our dollar collapses in the years and decades ahead

805
00:53:44,019 --> 00:53:49,260
Yeah. So, so we don't totally get wiped out. Yeah. I'm, I'm just like waiting. I'm waiting

806
00:53:49,260 --> 00:53:53,679
to see which state is going to be the first one to buy Bitcoin for their citizens. Like I'm like

807
00:53:53,679 --> 00:53:57,979
waiting for, for that kind of thing. Like who, when is that going to happen? Uh, who's it going

808
00:53:57,979 --> 00:54:03,599
to be? Is it going to be a country first? Because again, this is, there are certain things where

809
00:54:03,599 --> 00:54:08,899
there's a first mover advantage, right? And, and again, the reason this matters, if you're a

810
00:54:08,899 --> 00:54:12,319
Christian, you're trying to understand this, think about it like the logic of repentance. Okay.

811
00:54:12,319 --> 00:54:14,459
so Jesus comes

812
00:54:14,459 --> 00:54:16,780
okay and he sends John the Baptist

813
00:54:16,780 --> 00:54:18,439
as his forerunner

814
00:54:18,439 --> 00:54:20,799
and so John starts going before him

815
00:54:20,799 --> 00:54:22,819
and starts declaring the need for people to repent

816
00:54:22,819 --> 00:54:24,899
hey the kingdom of heaven is at hand

817
00:54:24,899 --> 00:54:25,720
like boom

818
00:54:25,720 --> 00:54:27,619
this reckoning is coming

819
00:54:27,619 --> 00:54:30,060
it's not time for games

820
00:54:30,060 --> 00:54:32,560
stop playing games and prepare

821
00:54:32,560 --> 00:54:34,700
because God is getting ready to send

822
00:54:34,700 --> 00:54:36,679
the Messiah who's going to judge the world

823
00:54:36,679 --> 00:54:37,159
in righteousness

824
00:54:37,159 --> 00:54:39,879
and so you start to see people

825
00:54:39,879 --> 00:54:42,639
who like repent and they start to stop playing games.

826
00:54:42,679 --> 00:54:43,479
They start doing these things.

827
00:54:44,179 --> 00:54:46,139
And it's something very, again,

828
00:54:46,220 --> 00:54:48,519
not to compare the seriousness of these things,

829
00:54:48,760 --> 00:54:51,720
but there's something very similar with Bitcoin.

830
00:54:52,319 --> 00:54:54,399
Like this, fiat currencies are a delusion.

831
00:54:54,599 --> 00:54:56,379
The idea that this same piece of paper,

832
00:54:56,479 --> 00:54:57,479
we can write a hundred on it

833
00:54:57,479 --> 00:54:58,659
and it's worth a hundred times more.

834
00:54:59,080 --> 00:55:01,740
Like it's a total shell game.

835
00:55:01,879 --> 00:55:03,419
It's a total emperor's new clothes thing.

836
00:55:03,519 --> 00:55:04,459
Everybody knows this.

837
00:55:04,499 --> 00:55:05,700
If you think about this for five minutes,

838
00:55:05,700 --> 00:55:07,780
we've just all been gaslit into thinking that it's normal.

839
00:55:08,119 --> 00:55:09,580
It's not, it never will be.

840
00:55:09,879 --> 00:55:19,560
And so the first person who wakes up in first, you know, the first people, this is why the first people who adopted Bitcoin 15 years ago are billionaires now.

841
00:55:19,959 --> 00:55:23,099
People who have adopted it after that continue to be wealthy.

842
00:55:23,919 --> 00:55:27,200
And this is going to click with certain countries.

843
00:55:27,200 --> 00:55:28,540
It's already clicked with El Salvador.

844
00:55:28,899 --> 00:55:30,700
It's starting to click with the United States.

845
00:55:30,700 --> 00:55:36,700
but the first ones to really get and see the hopelessness of the fiat system

846
00:55:36,700 --> 00:55:42,019
and to turn on the money printers in order to buy Bitcoin,

847
00:55:42,839 --> 00:55:49,659
those are going to be the ones who are going to benefit to a disproportionate degree.

848
00:55:50,459 --> 00:55:54,700
And so it's just super interesting to think about who is going to do that.

849
00:55:55,379 --> 00:55:56,899
At what point is it going to happen?

850
00:55:57,599 --> 00:55:59,499
I think we could still be far away from it.

851
00:55:59,499 --> 00:56:11,659
But again, if you told me that there's, you know, if you told me that some Middle Eastern country, if you told me that, you know, there's, again, the difficulty with something like Russia or China is they don't like Bitcoin because it's outside of their control.

852
00:56:13,080 --> 00:56:24,260
And then they also extremely, extraordinarily value things like gold and, you know, well, basically gold because they can still, they can mine it, they can find it, they can purchase it, they value it.

853
00:56:24,260 --> 00:56:34,080
But at some point in the near future, you're going to have countries who recognize, wait a second, we recognize that this is super valuable.

854
00:56:34,479 --> 00:56:37,760
And you're telling me that we can take this stranded energy that we have.

855
00:56:37,859 --> 00:56:40,639
We have all this excess energy that is just literally being wasted.

856
00:56:40,639 --> 00:56:52,280
And we can mine Bitcoin with this or we can just utilize our printers in order to buy this scarce asset that they'll run out of some for sale.

857
00:56:52,280 --> 00:56:55,139
and basically the price of it will go through the roof.

858
00:56:55,519 --> 00:56:57,280
People will wake up to that calculus.

859
00:56:57,519 --> 00:56:58,639
Individuals are already doing it.

860
00:56:58,740 --> 00:56:59,879
Businesses are already doing it.

861
00:57:00,200 --> 00:57:04,379
But it really is going to get wild once nations start getting to that point.

862
00:57:05,359 --> 00:57:05,479
Yeah.

863
00:57:06,299 --> 00:57:06,740
Yeah.

864
00:57:06,740 --> 00:57:10,859
I wonder if the center is muted.

865
00:57:11,700 --> 00:57:11,919
Am I?

866
00:57:13,260 --> 00:57:13,979
Can you hear me?

867
00:57:15,060 --> 00:57:17,299
Well, we're right here at the audience, anyhow.

868
00:57:18,060 --> 00:57:21,220
So, Ryan, I'll greet everyone for Ryan.

869
00:57:21,220 --> 00:57:26,260
And thank you guys for tuning into another episode of To the Unknown Pod, episode 25 in the books.

870
00:57:26,799 --> 00:57:30,979
We look forward to seeing you later this week on Thursday for another episode.

871
00:57:31,139 --> 00:57:32,280
So we are grateful for you guys.

872
00:57:32,639 --> 00:57:33,939
Again, what do we do about these things?

873
00:57:33,979 --> 00:57:34,659
You go buy Bitcoin.

874
00:57:34,819 --> 00:57:35,619
That's what we do with these things.

875
00:57:35,760 --> 00:57:36,339
What do we do?

876
00:57:36,339 --> 00:57:41,519
What do we do about a currency that is being printed ad absurdum?

877
00:57:42,019 --> 00:57:45,200
You go and take money and buy something that can't be printed.

878
00:57:45,419 --> 00:57:46,220
So go buy Bitcoin.

879
00:57:47,139 --> 00:57:48,679
Go understand Bitcoin more.

880
00:57:48,839 --> 00:57:50,700
Share these links, videos.

881
00:57:51,220 --> 00:57:55,240
with people in your lives in as non-annoying of a way as possible.

882
00:57:55,799 --> 00:57:58,459
And we'll see you on the next episode of To The Unknown Pod.