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Economics, Finance, Crypto and Retirement podcast interested in exposing: the false left-right paradigm, central bank manipulation, media double standards, lying politicians and Fake News.
Episodes
Tuesday Dec 19, 2017
Tuesday Dec 19, 2017
Audio only: https://www.youtube.com/watch?v=BX2N4BVhlcU
We are very excited and honored to have Doug Casey on the podcast and for 2 FULL HOURS! In this podcast Tim and Ernie interview Doug Casey from the studios of Freedoms Phoenix . In this wide ranging and in depth interview, Doug shares his thoughts on Crypto, the economy, spirituality, the singularity, IPOing' the Saloman islands and much more. We also discuss Doug's latest novel's "Drug Lord" and "Speculator" both of which can be found at www.highgroundseries.com.
Bio:
Doug Casey is a Best-selling author, world-renowned speculator, and libertarian philosopher. Mr Casey has garnered a well-earned reputation for his erudite (and often controversial) insights into politics, economics, and investment markets.
Doug is widely respected as one of the preeminent authorities on “rational speculation,” especially in the high-potential natural resource sector.
Doug literally wrote the book on profiting from periods of economic turmoil: his book Crisis Investing spent multiple weeks as #1 on the New York Times bestseller list and became the best-selling financial book of 1980 with 438,640 copies sold; surpassing big-caliber names, like Free to Choose by Milton Friedman, The Real War by Richard Nixon, and Cosmos by Carl Sagan.
Then Doug broke the record with his next book, Strategic Investing, by receiving the largest advance ever paid for a financial book at the time. Interestingly enough, Doug’s book The International Man was the most sold book in the history of Rhodesia. And his most recent releases Totally Incorrect (2012) and Right on the Money (2013) continue the tradition of challenging statism and advocating liberty and free markets.
He has been a featured guest on hundreds of radio and TV shows, including David Letterman, Merv Griffin, Charlie Rose, Phil Donahue, Regis Philbin, Maury Povich, NBC News, and CNN; has been the topic of numerous features in periodicals such as Time, Forbes, People, and the Washington Post; and is a regular keynote speaker at FreedomFest, the world’s largest gathering of free minds.
Doug has lived in 10 countries and visited over 175. Today you’re most likely to find him at La Estancia de Cafayate (Casey’s Gulch), an oasis tucked away in the high red mountains outside Salta, Argentina. Cafayate most resembles the isolating beauty of Bryce Canyon, Utah combined with the lush vineyards of Napa Valley. Residents enjoy economic and social freedoms not found in the US and some of the best wine and golf on the planet. Make sure to check out both of Doug's most recent novels "Drug Lord" and "Speculator" at www.highgroundseries.com
Tuesday Dec 12, 2017
Tuesday Dec 12, 2017
In this episode of the Libertarian Advisor podcast we cover the bitcoin mania taking the world by storm.
In the past few weeks the amount of interest in bitcoin has absolutely exploded. Tim discusses why he's excited about
Crypto's while giving a brief background of his blockchain investing experience.
Tim also goes over how to buy and sell bitcoin, how to buy alt coins and what exchanges to use to buy alt coins.
We also cover how to store bitcoin and what "Cold Storage" means.
Lastly we talk about the cashless future and whether the decentralized cashless future is superior to the tracked, traced, controlled and centralized government cashless future. I'm guessing you already know my answer on this.
Transcription:
[00:00:02] We are good to go. Hey what's up everybody. It's Tim Picciott the libertarian adviser. And what I want to talk about today is you know how to buy bitcoin. You know why you should buy Bitcoin should you buy bitcoin. How much to invest you know can't be hacked how to secure. And just to give you a little background about myself and this is not to you I taught myself or try to you know act more important than I really am. But you know you see a lot of people out there Talking about bit coin you know it's you know the new cause de jour that's out there right now. But this has been something that I've been studying for you know a very very long time. You know let's give a little background about myself. I graduated in 2008. So right in time for the economy to implode I started my career in finance. Two weeks before Bitcoin was created and if you realized what happened two weeks before it was created is that is actually when the financial crisis happened so I started the day Lehman Brothers crashed. And so you know here I am you know out there in a financial planning job you know 22 years old you know did not like sales. Last thing I wanted to be doing.
[00:01:05] And you know really it was kind of thrown to the wolves spent you know really really kind of a few years as you know head down trying to study as much as I could you know becoming a financial expert but you know becoming a financial expert and making money you know really are two different things now. You know eventually you know money you know knowledge is money or knowledge. You know eventually leads to money so I'm really glad that I didn't spend all of those years you know studying as much as I did. But you know when you're living you know credit card a credit card doesn't give you a lot of time to invest. Dan you know fast forward three years I moved from really from New York to Arizona had to basically start over again. It took about three years to get going again. So you know 2011 which would have been a great time to buy bitcoin. And really you know kind of fast forward to 2015. My business was really really rock n roll and you know did really really well 2015. And then that's when I decided you know what I'm going to quit my current job. That was really lucrative. That finally was lucrative for the first time in my entire career and I'm going to start my own company right after my daughter graduate. So you know bitcoin is something that I had been you know looking into. You know right from the right from the very very beginning the first person I ever told about bitcoin from an investment standpoint was at 30 dollars told another client about bitcoin when I was at 200 dollars. I'm a frequent guest on the on the show LRN.FM declare your independence. Ernest Hancock one of the first probably the second person to start talking about bitcoin on the radio and I'm on I've been on his show probably 20 times a year.
[00:02:38] So when I'm saying the stuff I'm not saying it is you know all these charlatans who are out there you know now all of a sudden you know everybody's been quite an expert. But at the beginning of this year you know I really didn't think you know I did not see this coming because I thought when the ETF decision I thought that that was going to get denied and that that was going be bad news for Bitcoin. And you know I was in the typical you know mindstate of you know hey it's you know I was probably like a thousand bucks or 900 box and I was thinking hey this is you know super expensive a 900 dollars because I didn't fully understand and what I did understand from the very very beginning is I understood that you know Bitcoin is a way to you know really supplant the banks it's a way to cut out the middleman. It's a way to you know me give something of value to you. And there is no government to be able to stop that and that's something I understood right from the beginning. But what I didn't understand until probably fast forward about March of this year and really it was at the behest of Ernest Hancock you know really making sure that I understood this was how the block chain actually worked. And so I spent tons of time. And anybody that knows me knows that whenever I dig into something you know I've go all in. You know I you know I can't go and do a 5 K I've got to go do an iron.
[00:03:47] You know I can't go and you know just become a financial planner and study for a week to get my series 65. I've got to be you know the youngest person in America to get the CFP or you know probably one of the youngest people ever to get that I know everything I do is I'm all into everything that I do and that's how I live my life.
[00:04:03] So when it came to Bitcoin you know I understood really how the block chain could really you know overtake everything and when I say everything I mean in the future you know there the Internet the future is going to be beamed down from satellites that are 62 miles above the atmosphere where no one can stop it where it's going to be encrypted. You know to the tune of you know four times even what bitcoin is right now and there's going to be these decentralized mesh networks where you're not going to be able to stop the Internet. And it's it's going to be revolutionary whether it comes to stock exchanges. There is a company right now that is called Eshuys Overstock.com. It's a subsidiary of them ICI ventures and their product is zero where the transaction is the settlement what that means is you can have a stock transaction and instead of having to wait three days instantly the stock is settled. It's going to cost next to nothing probably in the future what's going to happen is instead of and the S&P 500 by all 500 stocks at once. It's going to cost next to nothing and it's going to happen instantaneously in the benefit of doing that is that let's say you know 40 of those stocks are down 100 of those stocks are down. The beauty of this is that now you can just sell those stocks that are down. There's all sorts of tax reasons for doing that. And that's something that's not happening in the future that's happening now that that IPO is happening on the 18th again.
[00:05:23] I'm not selling it I'm not you know it's gonna be an incredible investor to get into this. I'm not advocating anybody no good just gets in is something about doing your homework and really you know nobody should take my word for any of this. You know you should go out and do your own homework. And in June I gave a little Facebook live where I basically said the same thing so what I want to do now is I want a flashback to a Facebook Live that I did in June talking about. Specifically it was about Ethereum but also about a block chain.
[00:05:51] Hurd is in time out right now so in about two minutes we're going to get hurt. But the other thing I want to talk about is the tear that Bitcoin has been on and actually all the all the different coins and again early 20s absolute terror. And that's one thing. You know really at the beginning of this year didn't really see that coming. I thought that when the when the ETF decisions are basically not to have bitcoin become an ETF I. Thought that was can be the next to it. The other currencies to watch out for me I'm not advocating anybody goes out and buy this. One of the ones about recently was a theory about a month and a half ago where I said I'm not advocating anybody goes out and buy this you know that there are a lot of disclosures to be made.
[00:06:35] And so when people ask me how much should I invest in the bitcoin. How much should I invest into crypto currencies. I'm going to use Bitcoin as a you know kind of a catchall. Obviously I know that crypto currencies and Bitcoin is not exactly the same thing and that there is no 4300 different crypto currencies but what you should do is figure out how much you can afford to lose. You know if you're twenty five years old you're going to have a much different investment profile than if you're 65 years old and if you're 55 years old and if you're 45. Everybody's got different things going on in their life. And you know honestly for me know my money right now is better spent investing into my own business because that's something that I can control. But really the only other investments that I've been making and again this is going back to you know earlier this year has been the first one was into Ethereum when it was so into double digits because I'm not because I thought I was some speculative hype or I thought I was really rich off of this is because I understood what the underlying technology meant with a theory is you actually have. It's basically like an operating system where where you can have applications that are built on top of this operating system that can happen you know automatic decentralized. You know without any way to stop it.
[00:07:44] And so you know that's one thing people do understands it's a lot more than you know thinking that I'm going to go to Starbucks and and all of a sudden they are not going to take the dollar and are going to take bitcoin. That's not why I'm into crypto currencies although you know maybe in the future maybe that's where you know maybe that's where things are going someday. But however that's not that's not what really got me super excited. It was all the other applications of Bitcoin. But when it comes to how much should you invest in the Bitcoin. You know let's say you need fifty thousand dollars a year to live on and you're gonna get 20000 for Social Security. And depending on how old you are I wouldn't really count that. And I think to always pay it. But you know someday that money might not buy you anything but you know let's say you get 20000 so security another 10000 from a pension you know. You know maybe 18 percent of people out there that are still getting pensions. So now I've got 30000 coming in. Well let's figure out a way the best way to get the other 20000 in you know in the safest manner possible and let's say you've got another 100000 hours leftover will then use that money to invest in the bitcoin. Don't go and just throw everything into it. Maybe if you're you know 20 20 25 years old now obviously at that point your networks don't a lot then yeah you can go afford to do that. But you know you should have some sort of plan.
[00:08:50] He shouldn't just go willy nilly into everything because there's people that are getting into this that don't know nothing about the philosophy of bitcoin they know nothing about the you know the underlying block chain that do nothing about any of the inside baseball that know nothing about all these other currencies and all they want to do is say you know hey I've got 100 bucks and I want to turn it into a thousand by next week. And if you go to any of these forums you know just go on Facebook right now and Tibnin these cryptocurrency forums. It is littered with people saying hey I've got a 100 bucks and I want it to be a thousand. Well you know a lot of those people are going on to you know you know like a coin cap dot dot io or coin market cap is another great Web site that shows you in real time what the market cap is what the various current crypto currencies are doing and right now as we speak I'm taking a look at this. The market cap is almost half a billion dollars. Four hundred and ninety three billion dollars is the current market cap. So right now it is the largest bank in the world. This is something that people need to take seriously because the people that don't take this seriously are going to be people in 1994 who didn't take the internet seriously because this is a lot more than currency. This is way more than what people even completely. Can even understand. I was at a bitcoin conference several months ago and I was the only financial adviser there and now I see CNBC or as I was referred to as CNBC CMBS trotting out all these financial advisers that literally know nothing about bitcoin talking about what a scam it is like. You know what.
[00:10:18] I had clients that wanted to get into bitcoin you know earlier this year and they thought 4000 was too high. They're going wait for the dip boom and never dip and again on a microsecond basis then yeah. You know there could be bubbles. It could be you know a little bit too frothy right now. Obviously it went up a ton and you've got to be a little bit hesitant of Wall Street getting in. But the bigger bubble is the 500 trillion dollar derivative bubble in my opinion 500 billion being the lowest estimate for that derivatives bubble. Other estimates put that at closer to you know closer to you know over a quadrillion dollars.
[00:10:48] Anyway I'm going go back to the video that I did in June talking about Ethereum 500 percent in a month and a half it's just absolutely nuts but it's not because I think that we should put a lot more in just currency. Why. I was a believer and it it's because if you actually if you go on youtube maybe typing Retallick booter in the. U.S.. I guess a founder of the creator of that theory is because the actual block chain really is going to have the ability someday whether it's a theory of where it's made safer or whether it's you know the seven hundred nineteen other ones that have out there is so in June there was a hundred and now.
[00:11:29] Now it's over 4400 so just to tell you how much it's been in probably out of those 4200 probably 3500 of them are scans. There are a bunch that are Ponzi schemes are a bunch of fraudsters and hucksters that are out there so you know you better know what you're getting yourself into. And you better be into this for a lot more than hey you think you're in to make a quick buck or two because I think a lot of people are going to be separated from their money real quick. But a lot of people are probably going to make a ton of money. So here we go.
[00:11:54] The Internet of the future are going to be built on top of these platforms. They're going to be able to place different stock exchanges. They're going to be able to cut out the middleman in the financial systems. They're going to be able to cut out different real estate transact and I'm one of those middlemen in the financial systems and I'm still saying this being able to cut out the middleman. Now the only. Thing you guys are wondering why and where the White Peter out here is.
[00:12:18] All right we can we can stop that. But again I did bring up earlier today that you know that the Internet in 1994 the people that were pooh poohing that are wondering what that was. It is literally going to be just as dumb. The people that are pooh poohing this today are going to seem just as dumb as if you will back down so here's a clip from the Today show in 1994 with Al Roker talking about Internet.
[00:12:41] What do you say. What internet is. That. Massive computer network and one that's becoming really big now from the stage show. How does it not. What do you write. What like mail. I know a lot of people use it and communicate and communicate with NBC writers and fishers. Alison can you explain why internet is she can't say anything in ten seconds or less. It will be in the studio.
[00:13:06] All right and that was again off 1994 Today show with Al Roker and they were talking about what is the internet and nowadays I mean you can literally see people saying you know what is. BLOCK chain what does Bitcoin. It's very very hard to wrap your head around. But what I really want to impress people that is a lot more than just simply you know hey I can transact something value to you and nobody can stop me. Obviously that's a very very important feature and one of the guys who is badmouthing bitcoin not too long ago was that Prince and now Talib whatever his name is you know one of the biggest owners of Twitter and Citigroup he was he was calling Bitcoin a scam. And then what happened to his ass was you know two weeks later he was face down in a Riyadh Ritz Carlton with 35 billion dollars seized. Well guess what. You know that guy was she had some bitcoin because now all of his assets were to seed. Thank you for playing. That's the reason why you want to have crypto currencies again using Bitcoin to block chain and crypto currencies all as one big name I'm not even that big of a fan of bitcoin for other inside baseball reasons I'm not going to go into. Now you can go to a libertarian advisor dot com. I've got a podcast on that. Two podcasts ago called cryptos and conspiracies absurd one she wanted to know more about the inside baseball.
[00:14:16] But where I'm going with this is you know my plans for this is I'm creating the one of the first cryptocurrency IRA companies out there especially from a licensed advisor.
[00:14:26] So in order to do that I've got to sell and broker dealer book business drop my series 7 license pay a massive fine you know take on a massive amount of headache and all this money that I'm spending doing this. You know I think it's better spending spending building up this business is even investing into bitcoin or cryptocurrency itself. So this is something where I'm all in again. You know I'm I was one of the youngest people ever to pass a certified financial planner exam in 2007. I told my I was running my schools to demands investment fund on the finance specifically the financial stocks said don't buy any. And at that point I think had the highest endowment return in America we lost less than everybody else. So you know this is a game that I was in the cyber game beforehand. It made a pretty good call. In 2007 I first started getting into investing in 19. I was like 1998 or 99 that grandpa gave me a thousand bucks. I thought it was like a billion. He talked me out of the investment. Wanted to make because he thought the market was overvalued. He was 100 percent right. And that technology I want to invest in was Bluetooth well guess what. This is two times a billion in terms of the potential that this has. But again there are risks to it. You should know the risks you should study this yourself. But now I want to talk about how to buy bitcoin.
[00:15:43] So in America probably the easiest way or the most popular way is through a company called coin base. And so what you do is you log on you got to take a little I think selfie of yourself upload a driver's license so they have all the anti money laundering all the know your customer rules that are artifacts that people are like oh this is just for drug dealers. Well guess what drug dealers aren't going around and taking pictures of themselves and verifying bank accounts to do this stuff. So whenever I hear people say that you know they have absolutely no idea what they're talking about. And you know it would be much actually easier to track down a drug transaction payment through block chain opened Ledger than it would be through you know cash. So anyone who wants to make that argument you know has no idea what they're talking about because you want to talk about you know who actually funds you know terrorism. You know it's U.S. government dropping off you know Toyoda's and Humvee's over to you know Al Nusra Front and the free Syrian army and then dropping off you know all these you know weapons to them and stacks of cash and that Opes looks looks. You know they ended up giving all that over to al Qaeda and then change your name to ISIS. But again different story. Not to get into that. But again to coin base that is where a lot of people you just took your bank account up to it. You know I'm not getting any money from this or not paying me to say this. I think cracklin is another one K.R. a. Not sure how to spell it maybe. KayKay. Maybe you can google that.
[00:17:07] Not sure exactly which one gets the best has the best fees or best rates. And actually there is a way to actually avoid paying the fees of Coinbase if you are a market maker. So the exchange that it runs off is called the GDX and what you can do for the GDX is you can hook your bank account up to that logon with your coin base account. If you say hey I want to buy and I'm sure the prices are going to go back to let me go back to market cap right now. All right. So Bitcoin is at seventeen thousand four hundred sixteen dollars. As of right now. So if you wanted to say hey I want to buy bitcoin at seventeen thousand four hundred fifteen dollars. And maybe when the price dips down then you can fulfill that order you run the risk of maybe it doesn't step down and then all of a sudden your order is not fulfilled. So there is an opportunity cost to do this. It takes more time. Depends how valuable your time is just as a just as an aside the other day. I want to go do this move over some money to buy some light coin and you know the three dollar fee is trying to avoid. You know like coin went from 100 dollars to 300. So you know I have through to our fee. But now it's 300 percent higher so you know that is one of the drawbacks to doing that.
[00:18:16] So maybe this keeps some more money at Coinbase and their cash account because you know when it does dip or if it does dip and you want to pull the trigger that way the funds are already there. Because the legacy banking system takes you know four or five days to move your money in. Bitcoin happens very very quickly. Then when it comes to you know hey how do I buy these other coins because right now a coin base you can pretty much only buy Bitcoin theory like coin not pretty much. Those are the three that you can buy although there are rumors there are adding other ones but you can move your money from Coinbase then to an exchange called bitte Shrek's get B.I T.T. X no affiliation with them. You should really know what you're doing because again if you know f up and send something to the wrong address especially at a company like attracts you know unless it's a ton of money you know they they could give two shits about it and boom your money money's lost so you know really know what you're doing with this because if you screw something up you know there's no one 100 number to call. There's no central bank to call. You know you are your own Swiss bank account as actually Barack Obama said. But again with with big trucks you can buy. I think it was like a thousand different currencies on there so most of them only take bitcoins some of them take a theory. So you can move your bitcoin in there by the other ones again. Do your homework before buying other ones don't jump on the bandwagon. Don't just buy something because I say to go buy it. You know you shouldn't. Trust me you shouldn't trust anybody.
[00:19:46] You should go actually research itself and only trust yourself. Another good exchange is called shape shift. And is probably a little more advance for people that are out there but you have to have a let's say I wanted to buy an NEO make him make up that she has won. I'm not sure if on on service even on shapeshifters let's say Bitcoin. And I had a neo address. Again I'm not saying go out and buy buy neo which is sort of like the Chinese version of the theory and would be the easiest way to explain that. But then of course you know what a dream is. But anyways you know you put it in your bitcoin address that it's receiving and then you put in the new address that you want to go to. And then they take out a small fee for doing it. Their money is never on the exchange. So in terms of privacy in terms of safety you know I think that's probably the most secure and safest way to do that in my opinion again. You know probably not a beginner thing. All this stuff you can go back you can youtube all of this stuff so if you want to youtube that little GDX trick you can go YouTube that they've got full tutorials on that if you want to go you know YouTube how to open up a coin base account boom you can go do that although you know if you can't figure out how Rowbottom a coin base account you know you're probably not smart enough to be invested into bitcoin to begin with.
[00:21:01] So let's just throw that out there then the other thing I want to talk about was how to actually secure your bitcoin because a lot of times you hear people talk about you know bitcoin getting hacked you know. You know didn't you hear about Bitcoin that all this money was lost you know blah blah blah blah. One every one of those instances it did not happen to people who had money in what you called cold storage. So when you have money that's on your phone that's what is referred to as a hot wallet a hot wallet just like your bank account information could be compromised could be stolen. You know there are bad actors that are out there. There are people especially now with a market cap approaching half a trillion dollars. There are bad actors that are out there that want to you know get a piece of it. And so if you have money that's on your phone you know that is vulnerable. So what I would recommend is that you look into maybe companies that will store your money online in different multi signature wallets Malta and your wallet is sort of a. Think of it as like a nuclear submarine code where you need two different keys to unlock that unlock it. And then once it's unlocked then at that point the transaction can happen. So you'd actually have that hack into two different. You'd actually have to hack into two different you know two different private keys in order to in order to make this happen.
[00:22:21] So again when you when you have another device that they sell one of them is called The Ledger nano s and other ones called the treys or. And these are basically a little like USP sticks the trays or looks a little funny and it's a little USP that you can download it into the USP stick and then with that you're thinking OK well what if I lose that USP stick with you know my dog eats. Hopefully that's not the case what would get. You know you know our Trunchbull downpour and all of a sudden you know short circuits well what they do is they give you 24 different seed words and seed words is very hard to mess it up. It literally says you one. And you write it down to. And you write that down three then you write that down and then obviously make sure that that's not just laying around you right next to your you know trays or it would be pretty stupid idea. But what you can do is you know if you were to lose your device uses 24 words you can repopulate it back on to any other device. So I'd highly recommend that if you are going to go into crypto that you do it and you do it right you make sure that you aren't keeping all of your money on your phone. You know a really bad idea to do that you know keep some you know cash on the phone again. I wouldn't even recommend even keeping Bitcoin on your phone because you know let's say you know today I was out at lunch and wanted to pay somebody you know 15 bucks because you know they Bauby launch.
[00:23:39] Well if I wanted to do that in bitcoin the fee might be you know like 10 15 20 bucks but if I use bitcoin cash the fee might be one third of 1 cent if I use Dasch. Same thing like coins same thing Ethereum classic same thing Ethereum also very cheap so you know as people start getting more and more into this are going to realize some of the different intricacies you know because different currencies have different features. Again I talked more about that in the park of did you know I know a few months ago or maybe like a month ago. But in terms of Bitcoin itself being hacked really at this point you know the you know there's half a trillion dollar bounty on hacking and it's been seven years and I kind of got more into this again and the other podcasts but what you'd have to do is how the bitcoin comes into existence.
[00:24:24] The short version is if the guess is Shujaaz number there's like 14000 trillion guesses a second and that number swishes you know by the second as as mining and electricity costs you know really kind of have this whole supply and demand equilibrium but as much as people are guessing at the network in order for you to have the network you have to be the first person to guess that and then reengineer all every other transaction that's ever happened and then be the first one to then put on the next block. In my own layman's terms understanding you know you know the odds of having 14000 trillion people guessing at a second and you having the time to then do to reengineer every other one and then also be the one to find the next block. I mean it's the odds are astronomical of that of that happening. It's not to say if quantum comes that that can't that that can't happen. I think that is a big risk that's out there.
[00:25:17] That's why there's other currencies like nexus Earth wish somebody Konger Cantrell is the founder of ticker's summer and access. You know they're gonna be launching satellites up into space broadcasting Internet decentralized down to everybody and they are trying to quantum quantum quantum resistance their technology by using a 10 24 encryption versus Bitcoin which is 256 so layman's terms there is four times more secure than bitcoin.
[00:25:44] But really you know another reason why I like bitcoin is we take a look at our future. We take a look at where things are going and really there's you know a tale of two different futures that are upon us. One of those futures is and both of these futures involve digital cash. One of those futures involves Tittel cat digital cash that is tracked surveiled. Let's say you're a Trump voter and Hillary Clinton gets in the office gets in office. You know you want somebody you know like one of these psychopaths whether they're on the left side of the aisle or on the right side of the aisle. They're both psychopaths. Do you want one of these psychopaths and then say hey we didn't like your speech so we're shutting off of digital cash because that's where things are going with no currently. Or do you want to have a decentralized decentralized digital cash like bitcoin or crypto currencies where there is no way to shut it off there is no way to stop it and you see all these people saying oh well this becomes too popular. The government is just going to turn it off.
[00:26:39] Well I mean what does this say about our government if they're going to turn off bitcoin. Well first off what does that say about you because you don't obviously don't know enough about crypto currencies. I mean they could they could say hey you can't have it in IRA accounts anymore and yeah that would that would suck. But when it comes to you know banning Bitcoin you know there really is no way to ban Bitcoin.
[00:26:58] There is no way to I mean the government can you know stop people from using drugs came to stop people from you know all the nine million laws we have to prevent people against doing certain things that you know the government doesn't want them to do. And guess what. It's a lot harder to stop bitcoin. I mean what you can do is take out the electricity and then even that did take out electricity there's thousands and thousands of nodes all around the world. As soon as one of them repopulate the whole bitcoin network repopulate again. So this is something that can't be stopped. And if I was going to have my future rests upon government cash that digital tracked surveilled can be stopped can be censored can shut down political dissidents which believe me that people like Hillary Clinton got in there will be a lot of people getting shut down right now. Or would you rather have bitcoin or crypto currencies that can't be shut down. I'm going with that coin. You can go with the one that gets shut down and we'll see who's happier at the end of the day. All right. Now though one of the last points I wanted to make was you know we get to a certain tipping points right now.
[00:27:55] I mean hardly anybody as a percentage owns bitcoin. I think there's like 7 million wallets in the world that own more than 100 bucks. So you know you've got you know 7 million divided by 7 billion people out there. And that's the percentage of the people that are out there that own Bitcoin and where this is really attractive is not even necessarily in America. So you've got to stop thinking of everything just in terms of America. Think about the rest of the world that is you know that's not going to have a J.P. Morgan Chase branch open up down the street in Africa but pretty soon they're going to have decentralized Internet access. Pretty soon they're going to have excuse me and pretty soon they're going to have the ability to you know with a smartphone. And again you know these smartphones are going stupid cheap you know pretty soon everyone's going to be having them in the third world where you know where you know let's say you live in Venezuela or you live in you. And all third world countries in Africa. You know bitcoins actually might be more stable than their own currency and the only difference between you know the volatility in bitcoin is the volatility of their own currencies that the volatility of Bitcoin keeps going up whereas the volatility of the other currency keeps going down. And right now we're in the process of one of my video editors right now making a video where it's Peter Schiff saying look at Bitcoin it crashed down to 75. It crashed down to 100. It crashed down to 200. It crashed down to 500.
[00:29:11] It crashed onto a thousand. It crashed down to 5000 and when he's trying to say is that you know the difference between the continental there's an old saying the very first currency in America was the Continental and they were saying saying used to be not worth the Continental what he was saying as well the Continental was the holders of that. Eventually he got back ten cents in the dollar and differences the holders of bitcoin might get back nothing and maybe he's right from the standpoint that Bitcoin is not the ultimate end all be all and I'm actually of that of that opinion. But you know he's really kind of stuck in his ways. But if you guys want to know more about this and really suggest you take a look at Andreas Antonopoulos not sure I was Paul's name it's kind of like ants Apolis how everyone spelled out is probably one of most most knowledgeable guys in the space and I want to do is I want to leave you guys with a quote from Mark Gary Vaynerchuk. Gary Vaynerchuk is one of the first announcers in the Facebook. He was calling the he called the fact that Instagram would be bought by Facebook for a billion dollars. Everybody laughed at him. You know way back before it happened one of the biggest social media tycoons that's out there. You know one of the guys that has his finger down to the pulse of the people more than anybody that's out there. And this was back in let's see when this was actually earlier this earlier this year. And this is Gary hadn't say about bitcoin invested a block chain in bitcoin.
[00:30:33] So I bought bitcoin in 2014. So I just need it I just need all of you to.
[00:30:40] Keep that for a minute. OK. I love showing my coin base the people like. I put in twenty k. It's worth it. So Marcus listen. I.
[00:30:55] I think block change. Way bigger than people realize like people are fucking with it like a bitcoin level then let people a little smarter on the Ethereum level. But when you understand what the block chain is. My big thing with the block chain is it can it can literally overthrow America and China and Russia. It's that powerful. It's a platform of trust and we can do shit with each other and everybody else is out. It's so heavy man. I haven't. I understand it theoretically. I haven't spent a lot of time in it right. But I've been spending more lately. You know there's a lot of bullshit. CEOs get rich quick bullshit that's starting to happen. Yes sir. Thank you. I need all the dust to settle a little bit. I'm watching you know my favorite time is when I'm like the cobra and the grass. I love social media like 2006 7 8 because I was just like creep and I was like in there I was watching it like that time with block chain. Right now that time with a heart attack with voice I'm a little louder because I was in the grass two years ago with voice and now skills and podcast but now I'm out. I think it's super fascinating I think a lot of people that know a lot more than me which is why I don't spit on it all a lot but it's big big like building on top of it.
[00:32:11] Building on top of a theory and taking vantage it there's real things same way you have to watch how you hacked your social you did a little different. We could talk about any way you want but I think if you will deploy some of that hacker culture into block chain you might find some real fruitful shit.
[00:32:28] It was really appreciate everybody for watching this around 330 phone call. I got to make note one time that is so. Not sure what time zones trooper skew the view of watch me. Anyways I definitely appreciate the watch. Please make sure to share. Please make sure to like please make sure to ask me questions that you guys have to answer. And thanks for watching and talk to you guys later. Take care.
Friday Dec 08, 2017
Friday Dec 08, 2017
Full video here:https://youtu.be/k8jeNo-wTX4
In this podcast we discuss Nobel Prize Winner Joseph Stiglitz's claim that bitcoin ought to be outlawed. We then compare the fraud that is the global monetary system using (visual capitalists infographics) to Bitcoin. Finally we get into some of the basic misconceptions people have when it comes to the price of crypto currencies relative to one another while providing some very useful crypto currency websites.
Wednesday Nov 22, 2017
Wednesday Nov 22, 2017
Full video here:https://youtu.be/uc5zr7w8qYY
Todays guest is Adam Kokesh. Adam is a Freedom activist and Iraq war vet. Adam has been a very outspoken critic of the Iraq war and the US military industrial complex. Adam is currently running for President as a candidate for the Libertarian Party, while simultaneously running a platform to not be your president.
In this podcast Adam talks about how he became an activist, how the Taxation is Theft tour went, the delegate strategy that he is laying the ground work for; what not for president means, localization, blockchain, the Libertarian Party and much more.
You can follow and support Adam at www.thefreedomline.com
Make sure to check out his book “Freedom”. You can download a free copy or watch the youtube read along or download the mp3 on numerous platforms including itunes.
Notable videos:
https://www.youtube.com/watch?v=PWeF6lwg4aY
https://www.youtube.com/watch?v=3wpL_Oxw1T8
https://www.youtube.com/watch?v=z4E0sgV84Lk
Saturday Nov 18, 2017
Saturday Nov 18, 2017
[00:00:01] Welcome everyone.
[00:00:31] I'm Tim Picciott and I'm here with my guest host Matt.
[00:00:38] Tim great to great to be on the podcast today. So I'm Matt McKean and I live in Scottsdale Arizona and my career has been spent as an entrepreneur. A lot of that in real estate finance mortgage banking. Almost 25 years. Three 3 1/2 billion dollars in transactions between myself and company's CEO or sales teams I've run. And I have an entrepreneur in the energy sector as well. Very interesting technology of patents and three almost four continents now. So I'm happy to be here and fun to speak with like minded individuals friends about other crazy happenings going on and the changes going on in the world now. So Ben thanks for having me on today. Fun conversation.
[00:01:23] No problem. Just so knows how I got to hold my is we have a mutual friend interest of fairness if anyone needs health or life insurance you guys make sure to check out. Teresa and Teresa told me like hey you Matt can you guys really always posting similar stuff on Facebook and you guys should get together. So I'm actually in person that at one time. So it's not like we are in a long time friends going back but you know we really hit it off. We actually both found out they were also both Ironmen triathletes which is also a pretty rare thing here. And we were pretty close together so you know today we're coming live from North Scottsdale and what we're really bracing and talking about it is everything that's going on in the crypto space so that the you know cryptocurrency space for some of you that coined space block chain. You know maybe these are words that don't mean a lot to you guys and we want to do is we take that road break down what's going on in the fork. We might not even know what a fork is. So we want to talk about what the fork is you know why did they point for it. Don't get into some of the issues of why people had to fork. We also want discussed. Is Bitcoin a bubble or not. You know I see a lot of people saying this is basically the media 2.0.
[00:02:36] And for those who don't know what the true meaning was is that bleed was in the Netherlands maybe sixteen hundred seventeen hundred sixteen seventeenth century I think in the 17th century you know Holland people were selling tulips and the price started going astronomically high at one point.
[00:02:55] People were piping like thousands of dollars for his regular tulips and people were you know just betting and speculating on the price of tulips and as long as they found somebody else to buy that tool for more money than people willing to buy it because you know they could sell to another for later on down the road. But eventually like all bubbles it did collapse.
[00:03:14] Actually read about that first in a book called Mania's Panics and crashes that read actually in 2007 which stand help give given the foresight when I was part of my school student and investment team to actually specifically targeted financial stocks and made the recommendation not to buy any. So this is sort of strange that yet myself as a fashion advisor and then the Matt where he also has a role doing mortgages. But yeah we're coming to renegades in our industries that we both know how the system is rigged and basically the Stand still. The reason that I wanted to get involved with crypto currencies is I really understood what was going on in the central banking system and it's a system that really benefits myself as a system that benefits Mac because you as financial assets go up are really as central banks print more money. It creates stock prices to go up. It
[00:04:14] makes all financial assets go up in people's home down goes up and then they need more money to borrow and take out a mortgage so you know it really benefits you. Benefits me because as my clients account values go up then I make more money as people take out larger larger loans because now the prices of the house cost more than you know it benefits you.
[00:04:33] So we're actually literally speaking against our own self-interest here in trying to expose the central bank system. And really you know what you know at the crux of all this is the very first dollar that was ever created in 1913 that was based on debt. So essentially if you created one dollar at the end of year one you would oh let's say a dollar for what. Now how do you pay back a dollar for with one dollar you need more money.
[00:05:04] And so what you have to do to borrow that dollar into existence and so it's a very strange term concept for people because our entire monetary system is built on debt. So I always say you know that makes the world go around. And you know without debt if that of all the debts were paid off in the United States for example there'd be no money because you would all be zeroed out.
[00:05:26] If people want to talk about you know paying off the debt when you can mathematically never pay off that debt. A matter of fact that debt has to keep growing. Just to be able to keep this whole GDP and Ponzi scheme going and at some point it's going to collapse and there is a lot different ways that it can collapse. So we didn't really talk about this in that little preview we did. But I think you know I kind of like where this is going is that you know I see it really happening in one of two ways. One way it can be is central banks have to print so much money that all of a sudden you know the value of everything goes through the moon and maybe the stock market. The Dow Jones is at a million now and I think certainly I think by the time I retired I think there is a good case that will that it could be a million but it's not going to be a million because you know all these companies are earning a whole bunch of money. It's going to be because you know we purchased so much money that we made the value of the dollar go down. And so that's one way that's going to happen the other way can happen is you could have a deflationary deflationary crash where essentially what it means is for the value of financial assets would go down.
[00:06:35] And I mean correct me if you if you don't agree with this or not but I think then the response to that would be we would put so much money that eventually you'd have that same hyperbolic having the stock market going through the roof again. Anyways it's just I don't know the timing of that is going to look like. I thought it would happen maybe you know at least the demographic the deflationary part. You know I thought maybe it would have happened like a year or two ago. So I'm I'm sort of you know you know I didn't time it right from that standpoint but you know I'd rather be a little early then even a second to late.
[00:07:10] Yeah. I'm a big student of Martin Armstrong. I'm trying economics. Phenomenal resource for anybody. Number one documentary I think in 2016 in Europe called the forecaster was banned and it's banned here banned in the United States and banned Switzerland so they banned the documentary. How many movies are banned in the States. I mean you know there's no porn for crying out loud. And you can't watch a documentary about a guy that was treated very badly by the U.S. government. And that's another conversation about do we really have freedom. But Martin Armstrong genius I think is his economic model.
[00:07:53] He's made some of the biggest product predictions in history been right. He the crash in 1987 to the very day years in advance so the stock market crash in October 1987 and then it came out during the middle crash. He said The Dow was going to go to an all time high at the end of 1988. Picked that high. The Nikkei the day used advance pick the Russian financial crisis in 1997 picked up at the height of the real estate index in February of 2007 to the day. Over a decade in advance and his economic model uses mathematics and some interesting calculations to pick the business cycle which has been the same for decades and hundreds of thousands of years and that never changes because the business cycle always return because human nature is the same.
[00:08:44] So it's actually very predictable. I believe in the deflation that kills the United States. We're trying to keep the dollar low. But what's going to hurt us is strong dollar. There's always people talking about the dollar collapse coming while the strong dollar is going to kill us because our dollar is too strong we're not able to trade with people because our dollar is too strong and so is interesting things coming with. I believe that the euro will begin to crash in 2018. You're seeing tremendous central bank problems European Central Bank loans like 40 percent of all the debt in Europe.
[00:09:19] Is that the new issuances from the ECB or is that just like already in total. I think the percentage might be higher.
[00:09:25] Well there's about 10 trillion in negative negative interest rate debt out there.
[00:09:31] So explain to people what a negative interest rate is. You know I give you a thousand dollars and you're going to promise to give me nine hundred dollars.
[00:09:41] Right. Right. I'm such a safe place to put your money. I'll make sure you get back a little less than the money that you give me.
[00:09:48] If anybody wants to do half either way and he wants to give you a thousand dollars and argue back 998 in two years you know who I'm open for business.
[00:09:56] So there's so much volatility and anxiety about European markets European central banks they start banks started coming out with negative things or shape policy. So that's how crazy. So that's why the U.S. 10 year Treasury is about 2.4 right now and it looks like you know you know crazy type returns compared to a negative interest rate return. So you're going to continue to see my fleet up Fleet in the United States in my opinion and our models that believe the Dow is going to continue to climb significantly over the next few years probably to 35 to 40000 within the next three years I believe is where it will go or if we go back on time.
[00:10:41] So there's such variability here where it doesn't really matter.
[00:10:46] Like myself or yourself as your years younger also but you know if you're 65 you're 55 years old and you're you know counting on the pension counting on your Social Security you're counting on your 401k. There is. You better be hedged. A lot of different ways right now about how this could happen because I know enough that you know if this all crashes tomorrow or 10 years from now it doesn't really matter. I'm only 31 so I don't. Matter of fact I get to have it happen sooner than later. But you know if you look at even like Germany and Germany I don't know the exact the exact currency names I think it was a Renmark right smart deutschemark. And you know if you were a German citizen holding on to you know I would be safe and have all my money and you know the Renmark will then eventually die of collapsing. And then you have your money into the rice market. I know that ends up collapsing. And so you know if you had your money that's saying Mercedes Benz which is the oldest car company in the world you know. Now instead of having 100 shares pressing Renmark maybe now we have a five share price prices right Mark. So by being in stocks you're really something is safe from that because you know the S&P 500 is not going to go to zero. Someday there's always going to be companies that are out it's always going to be the largest 500 companies in the world. There's always going the largest 100 companies in the world.
[00:12:07] And then getting back to you you're saying about interest rates are crazy because in Japan right now you the actual fascism going on currently.
[00:12:14] But the central banks in Japan right now are taking their keyboards printing money out of thin air and then using that money to then buy up the Nikkei 100s or something like 75 percent of all new wishes issuances. And again I'm not looking at notes for that number right now but it's pretty sure it's somewhere in that ballpark of 75 percent. All new issuances are being bought by the day Japan. So if you have a central bank that is buying up their own companies that is the merger of their of the state corporations and that's fascism. So worse and to the left of fascism in that regard. And often laugh should be cheering on Donald Trump for getting rid of that TPP. I don't really get into that today. That's a whole nother can of worms. But you know as it relates to central banking is the entire system we're under right now is predicated on the ability to print more and more debt so that we can expand this Ponzi scheme of which we can never actually repay the debt. You can never repay the debt. From day one you can tax everybody 100 percent assume they'd actually still work which they wouldn't and take all the rich people's money and assets and you can still never pay off the debt. So it's a fraudulent system that you know that honestly I'm benefiting from right now working in the stock market.
[00:13:27] I know that at some point it's not a matter of if it's only a matter where it's going to collapse and people want to say oh well the dollar can never collapse or America always has its honors its debt Bolsa in 1971 in August when Nixon got off the gold standard that was defaulting on the debt because we were going to originally promised to pay you the gold for every dollar currency was backed by backed by tangible assets. Yeah the dollar used to say for those you are watching this right now are full of you are listening in on a piece of paper that's shipped directly will kind of like a dollar you just say no this is a United States dollar you say or do you will buy gold on the top. No it won't be redeemable for silver. Very briefly and now it's a federal reserve note and and again not going to get into the whole thing of Federal Reserve and all that Ponzi scheme but this is why you know what crypto does is it gives us a way out of this system. It gives us a way to have a you know have no third parties involved and me transmitting value to you without having to go through a middleman to do that. And that's you know one of the biggest reasons why crypto is so promising that you know we're not saying go put 100 percent of your money into this. You know it again you should you shouldn't just trust somebody like us up here saying that you know you should you know definitely go investor crypto you should understand where it is before you try to invest in it.
[00:14:55] And I see a lot of people who are getting into this space just because they saw other people make money into it and other throwing throwing money at all these you know B.S. You know initial coin offerings are always new without any point and that was the you know guy just yet did one of those which had to get to him before he's done quite a big part of it and really no understanding of the stakes at all understand the underlying technology development or historical basis as to why he is even getting into it other than to try to make money.
[00:15:30] And there's a word for that's called greed. You know you should always do things well thought out and Prun really making wise decisions and what we're talking about about you know the currency and the debt structure. It's just very arrogant. I believe as Americans to think we're America American pride and this is the third central bank we've had.
[00:15:51] There was one in 1812. You may remember that the British at the British Open he owned it and they came down here and burned down the White House which that's not even in the basement of the White House have actually seen the black and blackened walls actually from the original White House.
[00:16:07] Yeah. You see that by the bomb shelter.
[00:16:09] I've not seen that.
[00:16:12] But again then we had a second Central Bank of America that Andrew Jackson then got rid of and that's where you know I think Trump should take down his post of Andrew Jackson because Trump appointed the globalists from Powell to go run the fat whereas you know his idol Andrew Jackson you know they said You guys are den of vipers and I shall drag you out. I mean that's completely different but you know Trump is in a very tough spot right now where if you were to admit what we're talking about then it would create everything and he'd get the blame could couldn't get anything done. So I think what he wants to do is no great and we get by you know a three to seven year reprieve of all the security. What I'm trying to say and I think what you're trying to say is in the grand scheme of things I don't care about a three to seven year reprieve because it's going to happen at some point. It's inevitable. And the longer we wait for this to happen the worse it's going to end up being. And so again as you see the forecast here. Did you get to see. I
[00:17:05] saw a half of it at the beginning and if you can get that on video I originally downloaded it through Amazon only in my catalog and Amazon pulled they never hold it. From what you actually like it was interesting because right before the election for about three weeks I couldn't access it before the general election for about three weeks before. That was interesting. But I have it again my catalog. But they don't carry it anymore. I mean because of course Amazon doesn't provide products that people want to buy.
[00:17:34] You know Amazon wouldn't you be making any money if you actually back out there CIA data storage contract so you know the other day somebody asked me how much money is Amazon's making and actually they don't know until recently that they were actually losing lots of money in lost money for a long time.
[00:17:52] You get to see a country writing about the Washington Post which is of course a CIA front Boston posters Operation Mockingbird.
[00:18:00] So the stuff that comes out of Washington Post is just it's not even just the Washington Post and you know that's a whole nother.
[00:18:07] Like I said it was six or seven or nine. Our contract with the CIA about the watch was interesting.
[00:18:15] But anyway so just you know no home Operation Mockingbird was a declassified CIA program where essentially of all the news rooms they were getting their talking points from the actual CIA. And so if you don't think that you know like a Mockingbird 2.0 type situation is going on today. You're absolutely crazy. It was actually a year ago yesterday that the first time the term fake news in terms of being used was a year it was a year ago yesterday when it was out of Paris that it was it was this I'm sure people are strongly there those two words are. But from a social media standpoint taking off it was this crazy professor like Melissas and ours and she you know basically went to all the Web sites that you and I go to that said these are all fake news sites. So what I did was on the 17th was I made me say fake news sites and it listed all the you know Snopes and Politico and MSNBC. I even wrote most of Fox News on there and polls and yet it was a 30 at Huffington Post watching all these ones were on there. And I actually had that that go viral on November 17th so I think I'm actually making the claim that from somebody calling the mainstream media fake news and having it go viral on social media I'm the first one and I have the actual proof.
[00:19:34] It also places the show that is part of the overt not saying well am a million like a million or several million immigrants.
[00:19:44] No I mean that day the pages seem like 91000 times. But then it was picked up by other players and then push it again it was just all part of the overall it's like I said not like claiming credit of like that's just the way it happened but but we tried doing so far leading up to all of this is really kind of on the stage of why is central banking is a scam I have a leak in the show notes and another video that I made it's like eight minutes long. That's the title why we're all slaves to central bankers or you guys can watch my last podcast episode 6 where I get into this as well. But I think we want to talk about really now the big 24 is and why big forks we're going to do is I want to move this really move because of the chemistry with the white board because we think that the best way to illustrate this would be through the whiteboard so I happy to get your to answer as to why I probably do.
[00:20:38] Right now see if you want to see our sure I'm not blocking the blocking of the camera for people OK that looks like it's good. And if you seen this part you maybe added this part out and get back and restart once when you go going with all of stuff. All right. So what the fork is say got big coin up here. Of course. Take the one pen that doesn't work. So we got people up here. What happened is let's say you had one city at one point and the ticker symbol for big quieter ticker symbol is a symbol BTC in the crypto world.
[00:21:20] We may want to talk a little bit about this to read from you.
[00:21:26] The coin is a digital currency. The two fundamentals of the coin. So there's really two fundamentals of Bitcoin Bitcoin have come into being. Interesting nobody really nuts. It was a white paper written by a mystery show. You say your name's Akashi not Comodo came out right after its attention that came out right after the financial crisis. November 2009 yeah I think that's right. November 2009 Savatage 2008 doesn't 2008 for about nine years now and it was the white paper is basically a instruction manual on how to create a new currency and a new superhighway of information that could flow with this new currency called the block chain. So there are a lot of times people say no. Have you ever heard of. I'm going to say two words says I'm having fun. A lot. If you've never heard of these two words but well you remember this because remember that on November feet you know 2070. And that was the first one there to tell you have you seen Internet just James is going to change your life.
[00:22:38] So the block chain really has two fundamental tenant or concept that it's built to draw out the watch chain or out of the way you can go to discuss how they can comes into existence or work.
[00:22:53] So the block chain really has two elements to it and one it is a it is a de centralized ledger of information and so decentralized means it's not stored in a building in your city. It's still sort of a cloud you know and that's that's stored in you or your daily Amazon Amazon is de-centralized What does that mean. It is in a network of circulating computers that are all independently owned by anyone that wants to become part of the block chain and they can see it's continually circulating all across the globe. And these are commonly known as minors.
[00:23:41] Let me explain one of the ledger so I read your eye on this drive.
[00:23:48] Ledger Yeah Ledger is essentially a record of information. So you know you've got you on this you've got this on this date and then you know let's do this because you get one picture that works.
[00:24:04] So you know Ledger is you know I'd say you know Bob has you know 10 units and that has you know for you it's a unit of anything I've had to say because it's dollars. And then if Bob wants to take two of his units and give it over to his salary and then basically them. Now what we do is we talked to you over here somebody has a salary that is correct. So it's just a way of keeping track and we'd have to do is to go through the banking system where and work. Let's see an international wire transfer might be you know 45 bucks or you want to do pay have to take 2 percent. Do you know they might take 2 percent if you want to you know. You know take a pony express and walk over somewhere. You know that there's a cost to that. This is a way for Bob to give value to Suzy without having to involve a middleman. The middleman in this case is a whole decentralized network where anybody can really be a part of this network if they want to be.
[00:25:09] That's exactly right. And that's what's growing is the block chain. And the second component of this is cryptography. And so my I was a pre-med student in college is really bad. So but hopefully you can see that these are times when I say I'm tired from using military grade cryptography. So you have a decentralized Letcher that's permanent store within the block chain with 100 percent infallibility that cannot be hacked cannot be erased cannot be modified cannot be changed that it is done so using validation of transactions to validate the data before it burned into the block chain. So it was beautiful and this is a good view and I read upon something never before in human history. Can Tim and I agree to a transaction where we he was in Romania I live in the United States or vice versa. We can agree to that option pretty well. Yes there are so there. So without knowing one another the block chain could validate each one of us laws with perfect 100 percent accuracy validate the transaction with hundreds now and who has the money that has changed hands where certain other applications the block chain like smart contracts which just other applications of the chain that are going to radically transform our lives so it's hard to do that right. I'm going to but we're not we're we not dependent on a middleman or a law firm a bank you know some other firm or strong person to validate all the information. It's now done electronically through the block chain through independent monitors using using that might cloud the rhythms to code and protect the information.
[00:27:02] So we want to talk about maybe how it can be. It may be could be hacked but the effort of it. There are some vulnerabilities but her ability to be your individual wallet could be hacked through brute force attack but the amount of energy it would take in order to do that you know without quantum computing. You mean you have to have a billion dollars in that wallet for you to be of use. Even the energy to it takes you 10 hours of energy to get out of the box. Then you got to spend millions of dollars of energy to get out of the box and you're rewarded more for being honest than trying to screw things up so that when you get your information start here let's say Bitcoin or another cryptocurrency you would store it in a digital world.
[00:27:51] And he's the only one that has that. He's. To those two that will soon be no different if I stole your keys if you left you.
[00:28:00] If you went down the street to the coffee shop and you left your keys on the table and walked out and I go to take his keys and goes to his house you can get your money back so the bar bills are at the exchange you trust somebody else with your private key.
[00:28:16] Then that's really not anyone's fault that's that's your fault. You can have a little old you know USP drive. There's different ones out there like the trailers or that's your answer. And with that let somebody have somebody take your pleasure or trace or unless they actually knew what your password was there would be a it wouldn't matter if you were to lose that or break it right over with it with a car. Well then you can with these different seawards be able to then get it back on another device. So it's not so it's not gone forever. So what we say is is it can be hacked let's say that this is the block chain. So every time a new block comes to access is added onto a chain. Well if you wanted to let's say hack the blotching you would have to basically have every other previous transaction that's happened and the amount of. And then you have to then find the next block before it before. So let's say this is a bad actor over here and you got it checked it today it was like a thousand had a half a second now hash is a guess and a Pedda hash is like what is it like 8000 trillion Gas's per saccades going on the network so you will not only have to.
[00:29:33] You would not only have to be the first one to find this blocking you sandflies network and everyone else trying to find that block up to 8000 for a second but you would then have to go back and hack every other transaction that's ever happened. So the energy would take to do that. As you pulling it off and the risk of war is so low that you are more incentivized to basically not be a dick and do the right thing then you are to do the wrong thing when you have my view and not transact.
[00:29:59] Yes. No no no no what you're asking.
[00:30:06] Well look at the Federal Reserve or Obama yes. You know that might be something they do.
[00:30:11] Very important it is the concept of control over your assets because you know let's say you spend your money in precious metals and you don't want to leave and go outside the country.
[00:30:24] Good luck trying to take hold of the country but with the coin or two currencies you can walk across the border with ten million dollars. Oh it actually came out in the watch chain and all you need is your keys to your electronic wallet somewhere in the watch chain and you can you happen.
[00:30:40] So this is the crypto conspiracy podcast on the conspiracy angle. There's a guy James Corbitt of the court reporter and he sued the TSA and they accidentally sent out an unredacted version to him where it said that those machines are there to be able to make sure. Gold and silver are leaving the country and they want to not having had highway checkpoints where you would then condition people. And it's funny because I had a silver bullet actually. I go straight to the point. But it is not sober and TSA is actually freaked out when when I went through there with that assuming they were you know you know they can catch you with 90 per cent the fake bombs that go through when they have it you know but they have government agents try to you know you know field tested people but you know one little tiny silver bullet you know. You know they sure as I said you are talking about how the block chain comes into existence or how they fire how these blocks are found. For the people out there who were saying that you know we know you know all these new plots yet as to change but you want to talk a little bit about what is.
[00:31:47] It's a little technical in the mining community of miners.
[00:31:51] So the way the White Paper was created for that we're not talking yet. We're not in force in other currencies yet which are hard for us sir. But the point that was designed there will never be more than 20 one 21 21 million about 21 million Bitcoin ever created.
[00:32:09] It's just that right now it has been $16 created. It's supposed to be like five. Twenty one for most of what they have.
[00:32:17] The fine print is for that coin that silver coin. So what happens is that in 2020 so that the community solves all of these mathematical equations equations to be able to produce it concurrently they the price of bitcoin today. This is around 70 $200 says as of right now. And of big currently according to the data that I see cost more than a thousand dollars in May and manpower labor or electricity and hardware to be able to produce one.
[00:32:55] These are people who are getting electricity as cheap as possible and that is way lower cost nothing there previously were to try to not give water really at least from the standpoint that they also have. You know they got keep miners plugged into volcanoes in Iceland using geothermal geothermal cost of thousand dollars to furnish so a quantum computing power to do it. And so people's lives are the network it's like you put it all together the billions and billions of dollars of hardware and so forth.
[00:33:26] So when people say there's no intrinsic value to it it's just a number that's made up. No it's not it's not some it's not some record to get it on Word documents stored on a computer word is a indelible unit. And interestingly enough there is belief that because Bitcoin really on the way it was stored and people had it that 20 percent of the existing flow of currency can last forever or even through the hard drive away never be worth anything.
[00:33:54] A drip you know Silk Road you know people's assets confiscated and that are all sober OK. Yeah.
[00:34:02] And then FDR came in basic stalls and said hey yes you've got all these the guy and the guy get nailed the FBI agent and he recently found and they just recently came out they got caught for stealing his enemies and stealing.
[00:34:15] And that's a whole other can of worms and actually at Nexus actually had the guy sitting next to his mom at dinner one night. And you know it basically you know you know the whole drug thing you know aside you know it's Caylee or you loved ones and zeros to somebody else you know and not have that be a crime. And so what he was able to do is come up with a way to send one of their elders to be able to created germ free market and then they come up with all these B.S. stories. You know all we hired hitman to do this one. You
[00:34:47] know again this is a whole other can of worms I don't want to get into but it's some of the attacks on cryptocurrency is government use that money laundering and terrorism out of money.
[00:35:00] The thing is it was marketed as being anonymous when really you know there's a whole public ledger of exactly what's going on and you don't want it to. I think one of the worst ways to be a drug dealer would be to start using bitcoin because you've got to know what made you chose right where the walls are and where the money's going and how it's transferred.
[00:35:19] And yeah I think you've got to be and actually there there are other coins that are used for purposes like drug use and there there.
[00:35:27] I mean mostly from what I've her best to wrap that wrap that is natural. Yes. And that's actually looking at our headquarters around here. This is near Scottsdale. I know that because I think Dasha summerlike down the street I think it's close to your office and learn something that helps over there. But you have to get one of these luck and you go and get one of these is the system. You've got a whole bunch of different computers that either. And number that number it is you know it's like all the atoms in the universe you know type number but it's not all that you can just guess every single number wants because how it works is there is an algorithm. And so what they use is something called Shop 256. And what that means is secure hash over them you know blah blah blah doesn't really mean anything to these people but what it means that over the years let's say I guess 10 10 is not really a guess.
[00:36:18] It could be it could be X plus you know 90 times 100 minus four divided by seven plus 50. So. So you say you're 10. Well then you get some 10 then add 90 to it. At times a hundred know for about 70 plus 50. And then that number is now your guess not the guess of 10. And so what they're trying to do is whoever can get you know can then guess that number is it then counts as one transaction. And then whoever then is in the second person to then gets it.
[00:36:56] There actually blocking block square. So then the second person guesses it kind of builds off that valid just validation so that you get six validations inside of the blocks or the transactions. Let's say I would send you the box that would be inside there.
[00:37:14] And what this does it's important is is that the innovation was how to secure and prevent the coin from being sold for more than one person.
[00:37:26] So they have double spending on the spending.
[00:37:28] So that was just sent electronically currency and for people watching actually eliminated that and preserve the integrity that way.
[00:37:37] You know we sent Tim Tim and John King specifically to me on record and projected through the other way that you could do this you know hey I spend know give you to you to give you 50 and then basically you know I walk away with a good book realized only one person is going to get that $50. So it's a way to then try it you know safeguard against that.
[00:38:00] We're going to now is you know the big point for and so a lot of you are probably wondering you know what the heck is going on out of this poor and why is it for essentially gave back to this example. You know again this is not to be a big technical analysis of this is you know you've got information over it.
[00:38:21] Over here Paul the hatter. He's got no other scripting code. And again this is more like Lehmann's is not being called a deferred ravels we get into this and then you've got all the various transactions.
[00:38:37] One of the problems is that now the big void has gained a lot wider adoption is that for you know there are all these transactions are the one megabyte blocks are completely full. As a matter of fact there's like a backlog of like Last I checked like over a hundred thousand transactions is what people are doing is a paypal word or you know I really didn't get my transaction so I'll stand no point bossy to make sure I'm at the top of this list. So the miners are doing is they're saying hey when I found that a coin how did you know. So in the big way is rewarded whether there are minor fines that they get to keep all these transaction fees so it's incredibly profitable for these for these miners. So back in the day you know it may only cost you 20 cents or two cents or a dollar or two dollars and now it's sort of getting up to $20000. Where is my vote. Using a bank if he's going to be 20 to 30 blocks.
[00:39:30] So one of the ways to one of the ways to correct that is you know there was different. There was different methodology. One of them was going to be doing something called of witness. So let's say you are one big point then where one point is that software did in August first get super Teddyboy today. You know you're one big point.
[00:40:00] You still have the same Bitcoin but now it is operating off this other software called Segway. But they also then had another hole where they got hard for or hard for because you know you're at home depot and you know you need to get a bigger share.
[00:40:15] You just you know go buy bigger sheds in the trash the old one whereas the software gives you maybe you built in addition to your current set.
[00:40:24] Now we have to really change the entire underpinning all that so they can cast how they want to solve this is this they say you know this is not scale but you know they want to have everything he saved and have an eight megabyte walk. And whereas the point several people say hey we've got a better way to be able to do this.
[00:40:48] And what was going to happen is that we're going to have another software called Quain are called segue to access we want targeted at all to get you expert on this.
[00:41:01] Better than those are types of and there's people that are a lot more knowledgeable in this than me but if they have their own way of doing it. These guys know that Hayward is to make it bigger. And what happened was they called they saw the price point is skyrocketing. There was a lot of confirmation in terms of you know hey are the miners going to get on board with this.
[00:41:24] And then really they called off the agreement. A logical Hey you guys promised that this was coming. And this was going to then solve the scalability issue. Is going to solve the transaction fee issue. And it was going to make way for this lady network it was which is a whole nother can of worms. But then you guys reading everything as you read it you know now we're going to take some of this or just take some of our Bitcoin and move toward a big quaint cache.
[00:41:52] And again if you own Bitcoin prior to August 1st you had one unit of what they call BCSC and you still have your one unit of the siege. I don't get that effect I guess it will pull away and a different change in recent years.
[00:42:08] Some see some BCA said matter like coin market cap is going to be said for people looking thats probably a certain see a market cap but DTC is always the original Bitcoin.
[00:42:23] And bitcoin cash a lot of people that were mad and some of my core can get the cash because theyre like why do you call it and point out some of these people like Roger vear Jesus are now calling this quaint segue because you know it's a different protocol but that's over the heads of men actually some of it is over my head even by so surely over demographics have sort of really want to get into all the specifics of that.
[00:42:55] But really what to know I wanted to do is we have is probably really hard for you guys to see. So a lot of people listening to this it doesn't really matter. But what we have is a chart where it shows the average transaction costs. And we what we see on this chart is you know Bitcoin was pretty reasonable you know January was like 20 says 30 secs searching a particular bar five hours coming to lie in an ally of India.
[00:43:20] And this audience is like a fox and they all suddenly start staying up till like $20 a transaction. Whereas you've got other. You've got Bitcoin cash is coming in right now. I'm pulling this up right now but you know Bitcoin cash is coming in at you know eight cents 11 cents 12 cents 14 cents. At the same time that you know Bitcoin is in the you know many many dollars and you got other ones like like coins you know what Max said you made a transaction the other day that cost a penny. So you know billions of dollars. My question is do you want to get into it. You know how the transaction issues and some of them might get a hundred our viewers want it.
[00:44:02] Sure. Yes that's so.
[00:44:04] So you really hear things like frequence of Bitcoin. It's morphed into is Bitcoin currency used all the time. Why are you paying for a coffee and Bitcoin or got it or is is becoming more of a store of value. My personal philosophy is that the coin the way it sits will become more like gold plate Reserve. And so if you think about using the examples you have given a hundred dollar bill. Never heard of Bill. Right and you're not really you need to buy something for 100 bucks. Pretty easy. Now if I go down to the carnival you know and I walk up to a hotdog vendor and I hand them a hundred dollar bill they may tell me something like Well you know it's bills. Sorry you don't have or can't make change for that.
[00:44:50] So I'm going to send you 30 bucks. It cost $20 to send it.
[00:44:55] I'm not going to do it because it's going to make sense for you to send me you know a hundred thousand dollars from the sale combo for a couple. Or you might say that Bitcoin and you know a couple of dollars worth of and five bucks.
[00:45:09] So you've got other colleagues that have been developed one of those coin.
[00:45:14] So they called me from my Ferrari and the other thing my older other things looked like coiners cream by Charlie Lee early in innovation.
[00:45:23] The coins. He took the original White Paper of Bitcoin and he basically created a completely different all currency based upon what he saw. And so there are thoughts like like coins. It's faster. So what you see cryptocurrency says they're all trying to solve a few problems one.
[00:45:40] So you know speed you know Congress writes a little ability.
[00:45:47] Some of us are an entity like Manero right.
[00:45:50] Some of these are more like operating systems like you get into a theory and it sort of like a Mac versus a decent PC.
[00:45:59] Like a decentralized platform launched this software.
[00:46:03] The centralized software is like a Mac versus PC or other things are more applications where let's say I use cookbooks you know cookbooks is a good application inside of either Mac or PC. Or let's say Facebook is something I go on inside of there weren't any other software I'd use. So people see all these other coins coming up with some of them are more or have specific functions like it just because Quick Books came out and then there's a thousand other applications that do you know maybe was a music player so it was iTunes iTunes.
[00:46:37] They were going to say cryptocurrency is a bubble because you got iTunes doing one thing in cookbooks to another thing and you know password managers doing the other thing and this is why when we get into the chain and what it's going to do is in the future this whole de-centralized we have computers. Imagine your computer on your phone even not running inside the phone but pulling pulling the applications that's running out of the Internet off of the box.
[00:47:05] That's some kind of overseeing some things like a light coin for example which is fast very inexpensive original hard work often that doesn't mean that he just needs it.
[00:47:17] And there's technology now that they can swap back and forth. We've seen a lot of innovation in this space.
[00:47:22] I think what's important when I personally see Bitcoin now is that some of these things are attacks on Bitcoin if you will some of its questions about Is it really that or is it financially motivated you know the 2 percent fall within a 2 percent. People are always going to try to exploit the psychopaths of the world is basically monitoring opportunities. But bitcoin is dead and can be replaced quickly with something new. So one day it's worth $7200 and we're honored.
[00:47:53] Which hasn't happened. That group would create tremendous instability and confidence in tech Kryptos space.
[00:47:59] So that's you know the traditional rule of marketing is be first be better be different. So back in the day you too young for this but we used to when the video video cassette recorders came out and if you remember was ever data.
[00:48:12] I see. OK.
[00:48:14] So there's the first one that came out called the VHS and big bulky or the tape and rewind the beta and then the baby that came afterwards of Beta was smaller faster better in every single way. So new Betamax said never caught on because it just became the standard and it was good enough.
[00:48:34] It always has to do with the porn industry is using the same thing with life. No because there is a battle between Blu ray and HD HD DVD yes. And actually I was kind of surprised because I thought with backing of Microsoft I thought maybe the HDDVD and I had a DVD I can actually tell my Xbox into my work for. So that's something that he said that there was then another four what was that yesterday or two days ago where it was a big corporate goal.
[00:49:08] So essentially if you had a coin never sold that you'd have your big point cash you have here a coin Segway and now you have your gold and then you. I'm not an expert on Bitcoin gold but I think what they're doing is they're trying to take the money that's using these you know existence hokey to volcanoes joke around. INTERVIEWER You've got to be you know basically this you know the Exxon Mobile of these massive glomerata compete is they want to bring it back down to the non-POD you know kid in the basement using their computer to be able to mine this and taking away from it the sexualization of all the all the mind.
[00:49:45] So I just want to tweak that or before we sat down where we want to get into it. You know I think lastly make sure you know is Bitcoin up a whole you know that's you know pretty widely object in and out and also on of how the equator is connected to the group and then finish it off with you know how people are always talking.
[00:50:13] And so short term they coined. So I if you want to address the bubble aspect of this because that's something you see more. We've got mutual friends that have made comments that there a bubble but I want to you know your take on y you either do or don't think they going as well.
[00:50:33] So bungholes historically the term bubble usually happens when there's over a natural overconcentration of capital in one place. So real estate rules you know implosion that happened back in 2007.
[00:50:51] We're in Arizona which is one of the top and hardest hit areas of Vegas.
[00:50:58] Easily top three is tougher. And so you've got you have an over concentration of capital or do you financial instruments that allowed any person to borrow money and access to capital drove up real estate prices.
[00:51:13] You didn't have to qualify you. All you do is have a credit score essentially. Not even a down payment.
[00:51:20] And today you own a home and you want to buy another one you might other one another one.
[00:51:25] Well that created artificial demand because of financing and so we saw a real estate bubble was inevitable. And we won't get into the reasons for that. But we want to make sure. Sure. And other conversations behind how that happened. But if so bubbles usually happen when there's an unnatural concentration of capital in one market. So we saw that in 2000 when the dot.com bubble burst. You had companies that were getting where I IPO penstock comments that Don who had no product. They had a name of a company with an idea and a web address and nothing else.
[00:52:04] And so we're going to we want an ice IPO or a company in our valuation is going to be this because we believe we're going to do all these and it's completely crazy idea. So.
[00:52:13] So Bitcoin is a bubble doesn't meet that criteria because first of all the market cap of that maybe some of the CEOs can meet their criteria or forgotten.
[00:52:24] I see we got an idea a white paper.
[00:52:26] It's 50 pages and I see a different company. It's different from those of those yes those similar to so there's some there's a lot of stocks that are out there of the sure is ridiculous you know Bitcoin there you know cryptic meaning refers a lot of this shit.
[00:52:42] Shit coin. So there are some shenanigans and unscrupulous people will try to prey upon. That's why China came down pretty heavily upon Heisey hopes because they saw people being taken advantage of and duped. And instead of buyer beware. People be free to make dumb decisions you know the big brother government wants to step in and prevent people from hurting themselves right. So is Bitcoin a bubble will Bitcoin the market cap for Bitcoin is about one hundred and ten billion. Fifteen hundred twenty billion. I think this morning in the second. Yeah yeah. Ms slides around several billion dollars of the day bigger than the market cap of Goldman Sachs the world's largest investment bank. How ever in the grand scheme of global currency. It's very very small. A lot of people in the crypto world and now an institutional hedge fund hedge funds they believe that the crypto space will go to five trillion dollars in the next three to five years. So. So the whole crypto market right now is just over two hundred $220 dollars which is unbelievable to me because a few months it was 70. I remember when it hit 70. Billion. Not a whole crypto space with all the cryptic complaints about 220 billion so it's one to five trillion. If you think about it as a currency it'd be like saying you know the dollar is a bubble or you know is gold bubble. You know it's hard. How do you how do you really call it that I think. I don't think that's proper.
[00:54:19] What they're trying to say is where's the price discovery on the valuation and you would have people like John McAfee who believes Bitcoin is going to go the price of bitcoin is going to be $500000.
[00:54:31] I think it was actually not 500000 that you might take out of live television is actual actual quote by 2020 or three years.
[00:54:40] So within all that is true of the time of year or within three years.
[00:54:44] Yeah. So he's he's Yeah it's an interesting illustration but so in terms of a bubble between us and the thing because it's climbing quickly you have to understand the underlying reasons behind it. There are people if you look at Venezuela which the country's been decimated with hyperinflation socialist policy communism socialism communism there's a hundred thousand people miners who are mining bitcoin because that's the only way they're even able to eat have made money essentially. I didn't know was that big.
[00:55:18] It was it was 100000 last time I checked there were mining Bitcoin and I think another point I want to make is in the dot com era the first time I started looking at investing I was years old my grand father was there to give me a thousand dollars he saw me interested in CNBC and all this stuff that I was back and for us too young to realize that it was really CMBS and that a bunch of whores on tv that. But again you're 50 years old and 14 and you know you don't you don't know any better. So I really actually wanted to buy into Bluetooth and to in 1998 99 and my grandma was like or you think that people would be walking around with cell phones and listening to music and now that everyone has Bluetooth but I feel like this is like Loo-Choo times of the Jilian.
[00:56:05] But the fact is I didn't invest back then because I was too scared and I just gave my grandpa back the thousand dollars because I thought it was like a like a billion back then you know grown up some hands you a thousand dollars or 14:15 you know things like a billion dollar store kind of wish I did that maybe I would have made it wouldn't happen with a college or because that was a pretty good pretty good investment in that but the fact is there are whether you know the whole industry is whether there's a whole industry is a bubble versus you know there are the Amazons in there there are the you know like the bluetooth thing there are things that are going to survive whether or not you know there's a bunch of you know whether there's a thousand crypto currencies and 950 of them are shit. You know it's not my problem that you and that you overextended into the ones that are shit. You that's not my that's not my priority.
[00:56:53] But back in the tech bubble where I was going with this is that everybody essentially had a series of segments of the micro SD card is full.
[00:57:03] So I've got no more video going on here. But we still go through because of this. But you know back back to the day though every single person had essentially had tech stocks everyone had that tech stocks and but then how many people you know. I mean the wealth management business.
[00:57:18] And maybe like two of my clients have cryptocurrency is you know other people other advisers I know here you know you know you think this guy has one. This guy has two guys one but we have a lot more than just one of your clients. So it's you know it's a very very small percentage of people who are walk around with corporate currencies might be point to five percent whereas in the days of dot.com it was everybody in the days of two of bubbles it was everybody and I was on the radio you know earlier this year talking about this and it was actually really cool. You know for those of us you know listening and there was a chart a visual capitalist if you take in visual capital is zero hedge. Bitcoin is from November of this year 2017. And what it's showing is that each one of these little squares is worth a hundred billion dollars and it shows a market cap of silver. Just one tiny little square a cryptocurrency. It's you know again very tiny little squares and it shows you know the biggest companies you know the failing stocks that are out there you know Facebook gap on that first Google Berkshire and it shows you know 50 richest people and shows you know a few more blocks and shows California's GDP and shows on this estimate which shows you know 20 blocks that shows the Fed's balance sheet which was three and a half trillion which that was just added on to that system. Q I think it's like point four inches in bigger than this.
[00:58:40] So several blocks there that starts getting into you know USA and my currency. And for people that are listening to this the takeaway is that the currency versus you know big coins like it's got you know a pimple on the ass of an elephant. You know where's the elephants. You know the currencies in the temple as you know the Bitcoin is nothing. If you look at all the value of all the girl gold in the world again relatively you know relatively small then it shows the Duyvil stock markets. And these are again this eyeballing this you know hundreds if not thousands of times the market cap of what crypto currencies are. Then you get into the global money supply. This is what that chart that you guys need see have a link to the show notes or this is just a huge frickin amount of it's showing that you've got you know thirty six point eight trillion of easily accessible money and then another 90 trillion of money that's not as easily accessible. Then you start getting into global debt it's at 215 trillion. Where again this is like a needle in a haystack where the haystack is all the data and the needle is you know the cryptocurrency that shows you all the value of global real estate again pretty big number that shows the derivatives. And this is where it starts really getting interesting where you have 544 trillion.
[01:00:01] And I've seen other numbers that seem to be immediately into the quadrillions. But Aimee's I'm scrolling down. And it took me a good like four seconds of scrolling down just to get to the bottom of that. So we're talking a market cap of a hundred billion dollars.
[01:00:16] But if you if you talk about the debt we're looking at closer to you know this estimate is 544 trillion. So you know which one is the bubble. I mean the bubble to me is not the the second smallest thing on this graph the to me is the amount of debt but nobody really knows how all this is going to shake out. And again we'll have this lynxes as the show notes.
[01:00:39] The last thing I want to talk about because we're an hour Alice I want to kind of wrap this up is when it comes to Bitcoin One problem I've had about Bitcoin really from the beginning when I found out about Bloch's dream was I looked into all you know who runs block Stroom block stream the biggest investor in blocks stream comfortably with bloodstreams so blocks stream. A good point. BLOCK stream is basically what's known as the core developers of Bitcoin. They're the ones you're kind of doing you know developing the code kind of steering what direction it's going to go into.
[01:01:13] You know for lack of a better word really companies affiliation.
[01:01:18] But they mean they do have a lot of funding behind them and they are paying people to do code. So you know what kind of what happened wasn't a lot of big you know people like this because they were IBM people that were getting this philosophy or those who've been kicked out. Now it's more of a globalist type people who are in it and it's actually so Bloch's dream is that they got their funding from a company that's known as X say it's Shellback say or Aksa. And so when I heard I saw that I just had when I first heard of Blackstreet Michael what's stream. And then I saw wait there were run by or there are major funders Aksa and I just happen to know that the Build-A-Bear a group was headed by a guy like Henry day custodies or how you pronounce his name. And he was the head of Aksa up until about a year ago. So now I don't know what he's doing you know figure out how he's going to take on Bitcoin or so you know I don't feel from a philosophical angle that you know I want to put all my eggs into the Bitcoin basket when I know it's being somewhat steered by the same goal is. I was trying to get away from it in the first place. So again it's decentralized so you know not saying they can come in there and you know have their way with everything because you've got all the miners onboard. You've got to have the nodes and you've got to have the users and there's all these competing interests. But you know are.
[01:02:44] Are they in there. But what would I be doing if I was trying to mess it up I'd have you know really high transaction fees.
[01:02:50] I want to make it less you know less and you know able for the average person to use and basically doing all the things that are going on right now which is maybe a reason why people are going into Bitcoin cash but it's just very hard that I don't see a lot of big time people in the industry pointing this out. Yesterday I happened to watch a little clip of Luke Radomsky and Jeff Berwick and I was pleased to see them actually talking about this and get the idea to talk about this because I saw yesterday's fire because I talk to you briefly yesterday before I even watched that but I was pleased to see these guys talking about this. But you know that's you know I would probably hitch you guys a lot today. We hope to be doing. You know. You know come out with these regularly again you can find it on the libertarian advisor podcast which is on iTunes Google Play stitcher. Play it for POD bean U2. You've got a libertarian adviser dot com up there will have the post with all the links to everything else you just mentioned. We'll have some of the show notes and their transcriptions and let us know you know other topics you guys want us to cover whether it's in Kryptos and conspiracy's you know because you know really has a lot to keep up with. So the conspiracy is really a subsection of the libertarian advisor podcast where we've got libertarian advisers anymore you know geopolitics you know current events type stuff that's going on.
[01:04:11] Whereas this would give me more of the different crypto currencies and conspiracy so I know not everybody listens to me. You know some people don't give a shit about the public political angle. Some people don't give a shit about the crypto angle whereas I don't give a shit if you don't give a shit because now I got it. I'm not going to segment it out or you can decide you know hey Tim's talking about markets. You know mass mass no time on the market. You don't care about that when I hear about conspiracies. Now I've got the method of doing that. But anyways you know appreciate you guys watching listening today will be out with more of these in the future. And you know for Matt for joining us you know he's in the regular part of this and we're signing off and see you guys I enjoyed that letter.
Friday Nov 10, 2017
Friday Nov 10, 2017
Full video here:https://youtu.be/arg0m4s2hMw
Facebook stream: https://www.facebook.com/thelibertarianadvisor/videos/899662520189767/
Quick addendum to add: https://www.facebook.com/thelibertarianadvisor/posts/899680380187981
https://www.youtube.com/watch?v=efKchHKMb2k
https://www.youtube.com/watch?v=qTRfBrXfVOg
https://www.youtube.com/watch?v=4xn9jLy_TB4
http://www.zerohedge.com/news/2017-11-03/swiss-national-bank-now-owns-record-88-billion-us-stocks
http://www.zerohedge.com/news/2017-09-11/wtf-chart-day-boj-now-owns-75-japanese-etfs
https://www.youtube.com/watch?v=-ewq73ADlEg
[00:00:04] Hey everyone is tim picciott libertarian advisor. We've got a lot to talk about this week.
[00:00:09] I was in Dallas last week ended up losing my voice so obviously cannot do any podcast without having a voice which you know is kind of unfortunate for my wife because you know the one week that I lose my voice I'm not around her so she didn't get the benefit not here and having to hear me yap all the time. But but anyways. You know I just want to sneak in a podcast. Head to cancún on Wednesday for my wife's birthday and going to have at least one of these podcasts out a week that is something that I'm going to make a pledge to do that really as trying to get a lot of things you know situated with business with you know family life with you know figure out how to do these podcast but now I've got a great system set up and so I want to do is make this a regular occurrence. And then you don't want to get more time and get better systems when to make this a regular thing so you guys will be able to check out the podcast. Go to libertarian advisor dot com will have links to the Google Play store iTunes stitcher PODBEAN YouTube and actually I think the Google Play is not up yet but that will be in the future.
[00:01:11] But what I wanted. But we know a lot of things that were going on. One of the things I wanted to talk about first was you know that the the GOP tax bill has this tax bill. You know its been lauded as you know this great thing for the middle class in the A What a win for everybody but you know when you really break it down in that it brought a few notes in this. If you break it down this is really a bullshit tax plan that you know for having full control of all of the governors for having full control of both houses for having the presidency and this is the best we can we can hope for. And you know some people like to get mad at me and say hey you know give them a chance given a chance. Well you know I am a financial expert. And a certified financial planner. You know I'm not a tax expert. That's not what I dabble in all the time but what I will say though is that you know this plan is not tax reform what it is is basically lowering the rate closer to zero which I'm all for it. I don't really think there should be an income tax. I think there should be a consumption tax. We shouldn't be incentivizing people to be spending to be saving their money or working. We should be incentivizing people to spend money.
[00:02:16] And maybe you know maybe the poor get some sort of exemptions where you know you know their basic needs aren't tax and otherwise you know people would cry out and say oh my god this is such a terrible thing for the poor.
[00:02:28] I know that we can't have a consumption based tax.
[00:02:30] But again this is not tax reform. You know reform would be a game changing move like maybe getting rid of the income tax and replacing with a consumption tax reform would be a game changing move. Maybe trying to balance the budget and not the same balance a budget this year. No I'm not greedy. Maybe you know maybe even five years. No tax reform would be maybe cutting government spending. So you know it's all great you know pound your chest and not going to you know pump the table right now because I don't want to break a bunch of stuff.
[00:02:56] But it's not tax reform when you don't count.
[00:03:01] We aren't even considering cutting government spending. I mean a matter of fact Governor spending is going to going up. And so you know all the Republicans and Trump voters won't get mad at me for it any time I badmouthed Trump but the fact of the matter is he's doing a lot of things where you know if he were Democrats you people would you know be up in arms over this. And again you know I am a certified financial planner. I've been one for six years been a financial planner going on 10. I've been working you know in the stock market one way or another pretty much since I was 15.
[00:03:30] So you know and a lot of people that look at me as oh this is some young guy up here so you know what does he know. But you know I was one of the youngest people ever to pass the CFP exam. So you know that is worth something.
[00:03:42] And you know I will say this I was completely ecstatic over the bill that they were going to propose to release in May. You know that was an actual That was that was a great bill they were talking about having 15 percent tax passing rates. Now they're talking about 25. So I don't know what that is off the top of my head like 60 percent increase. So I mean how are you going to you know lead with 15 and up at 25 and then I don't even get into how a lot of people that that's really kind of smoke and mirrors that 2005 because a lot of people like myself who run a business. I'm not I'd not even counted as part of this or my PACs and the tea I'm I'm basically disqualified because what Trump is saying is that you know anyone who has a personal service business.
[00:04:23] So you know you're you know your CPA is your account and you know financial advisers you know anyone who provides a personal service for anybody you know maybe like the you know any any salesman that you know.
[00:04:36] You know I think even lawyers are 100 percent sure not sure about doctors either. You know entertainers they're going to be wound up in this too. They're not even counted. So this entire bill is not even going to benefit those people at all. And I'm one of those people so I'm also pissed. And the other thing is there is a phase out. I mean right now the limit is on the numbers that have been ahead. I think it's 250 thousand dollars the tax rate is 25 percent. And so for the people who are making So basically you know this there is no relief for the average middle American income guy who's creating their own business who's maybe making between 125 and 250. This bill does not do one fucking thing to help those people out because the rate was already 25 percent so if you're getting. So if you're dropping the passer rate down from where it was like thirty nine point six down to 25 and people who are making $200000 a year as a small business owner we're already paying 25 percent. You've done nothing to help them out. You know what you've done is you've helped out the Googles of the world the Amazons of the world and I'm a free market capitalist guy and I want to you know you know obviously see the rate move to a consumption tax and you can get down to zero.
[00:05:48] But if I was going to prioritize who I'm going to benefit it sure as hell wouldn't be the major corporations that were doing nothing but trying to drag you down the entire time because they need they have so many different loopholes whether it's you know the Irish Dutch sandwich and also their bullshit that they do or you know integrate as a financial adviser and once I start making money I'm just going to have a corporation in Puerto Rico pay myself. Capital gains are in capital gains taxes over there. There's all sorts of crazy stuff you can do. And you know great you know thank you for basically you know doing nothing when it comes to that. And then there's also this other bullshit that they're doing now where there is something where you know if you do have a personal service business that only 30 percent of it can count as being your actual business income and the rest of it has to count as your ordinary income. And so you know just kind of give you a little aside about what's going on in my life right now is that probably next you know starting in January I mean to be kind of stepping away from my normal financial advisor business take more of a managerial role in that business while I start another business so you know I really truly will be that it will be business income and and really respect that I'm not really sure how the government is going to treat that. They're going to say hey because you know you've fallen into the class of financial adviser that that's a personal service corporation. So therefore at least 70 percent of any earnings that come from this have to be derived from you. Meaning that you know if I were to make that say $300000 a year. Twenty five percent phased out wouldn't even apply to me.
[00:07:21] So you know this is I don't think this is great at all I mean because what's going to happen is you know any savings that end up going on are going to be you know basically taken up in either higher accounting fees. You know probably my health insurance is probably going to go up by you know more than the twelve hundred dollars that this is supposedly going to save me anyways. Before Obama I was paying $70 a month for health insurance this year because I'm having a baby so you know right off the bat in January I had to pay sixty $600 deductible on top of the 15000 $500 no insurance premium. So I'm looking at 21000 fucking dollars as a 31 year old this year and last year a part of me to make that much too. I started to come I moved from one company started another one had tons of business expenses and then boom January have a baby. And so some of you are probably thinking oh well you know why don't you just go on Obamacare. Well I live in Arizona where basically Obamacare doesn't even exist. There's only one option for it. None of the doctors even take it. So unless I want to risk my child basically being born you know in the ghetto with you know some broke ass doctor doesn't give a fuck about you know my child and you know no one takes it no one takes in Arizona. So it's basically a moot point.
[00:08:28] So unless some illegal alien that you know you know we're the you know ghetto doctor you know funky you know is better off than any care they can get in Mexico. You know I'm going to be substantially worse off. And the other thing I want to talk about is this whole pastor and see what people don't realize about business owners is that we also have to pay not only you know the regular Social Security tax but we also have to pay it for the employer as well. So if you're looking at you know Medicare and all the Fika we're looking at I think it's a fifteen point three percent. So then if you add that onto even if there was that passed through rate that applied to me which doesn't add 25 percent you're still looking at 40 percent. And so what I want to know is at what point are you not a slave.
[00:09:07] At what point how much income do you have to pay to not be counted as a slave anymore. You know obviously 100 percent of your slave 90 percent you probably make that argument 80 percent probably make that argument 70 percent probably make that argument but I wonder at what point does that argument knock how many more. Because I really want to know at what point are you not considered a slave anymore. I'm not. I would say you know certainly over 50 you know that one win over half year incomes go into you know stay at that point. You know I think that you heard pretty much an indentured servant. But you know that also and people want to make up all of these claims like oh well and and in the whatever it was in the early 1800s there was a 90 percent tax rate will aid that I think that applied to get the equivalent of like 10 million dollars a year in today's dollars. The other thing is there were so many loopholes it was the tax system back then was like Swiss cheese. And guess what. Nobody was paying that. I mean there's probably less people paying that than were paying their taxes on Bitcoin. You know last year there was like eight hundred ninety three or something people that paid taxes on Bitcoin whereas I think there was like 400 people that ended up paying taxes at that 90 percent rate and again there are so many different loopholes that you know that really didn't apply to anybody but you know there is some good things with the tax bill.
[00:10:18] You know you are going to have a much higher standard deduction. I think that's great if you're making between you know you know 40 and maybe you know 80000 your prior and not that. And give me a net winner out of this. You know the section 179 tax deduction meaning if you buy a really expensive piece of business equipment a going up from you can deduct you know five hundred thousand dollars of it you're want all of the five million. So thank you. Thank you President Trump look I really need that fucking five million dollar reduction because it is because you know I work with you know because every small business owner I work with is just pounding out you know five million dollar deductions. You know guess what. No but no fucking small business owners are like saying oh my god thank you for that five million dollar deduction those are bigger businesses that are doing this. There's almost nothing to benefit small businesses in this tax bill and again I was very very happy with the bill that was coming out that the proposed in May but this bill is complete bullshit. And again I mean that's one thing if you know you have a Democratic led House or a you know there's a mixed house. Got to play games. But this is no excuse for this. And that's why I've been saying all along that the Republicans are the basically the Democratic Party lite aura. You know maybe the Communist Party Lite because of you.
[00:11:27] Because my own thing is you've got to say you've got you know freedom over here and and if you guys can see this or not so you've got freedom over you know one axis you've got no authoritarianism on the other side and basically you know the Democrats and Republicans. You know them. You know obviously the Democrats are a little bit more authoritarianism than the Republicans but both of them are nowhere near nowhere near freedom so freedoms all the way to the right. You know the Democrats you know the Republicans are basically you know you know a little inch or a millimeter away from you know where the Democrats are and you know there's not a goddamn difference between them. No problem.
[00:12:01] You know to get us where you are maybe at the end of the year or you know donate it to some sort of charity.
[00:12:08] But I apologize for the language. The other thing that's going way has got the estate taxes getting up to 10 million over six years it's going to be it's going to be going down to zero. And again the 10 million is more like 20 million because if you're married then it's.
[00:12:22] So it's 10 million for an individual 20 million for a married couple. And again there shouldn't be an estate tax. It raises very little revenue. It's just a big you know you know class you know political football that people throw you know as a financial advisor. Actually one of the companies I'm trying to set up right now is a cryptocurrency estate planning company. There are so many rules that the ultra elite do when it in so many games they play when it comes to you know setting up foundations when it comes to having a terrible trust that ends up paying themselves out and they get massive tax deductions and then you can set up all sorts of what they call islets or irrevocable life insurance trusts. So then that way you know that insurance proceeds doesn't count as part of your gross estate. There's all sorts of games to play. So basically you know that's only going to people you know maybe farmers that didn't know any better. Didn't you know didn't trust anybody you know sued and trust you know financial advisers to you know sell them on this but you know the Bill Gates of the world. Jeff Beezus of the world the Warren Buffett of the world when they talk about giving away their money they're not really giving away their money.
[00:13:20] It's privatized philanthropy and again this is something that you know maybe I wouldn't call myself an expert on it but in terms of knowledge on this I'm you know I'd say an eight or ten but you know I know and I work closely with people that are 10 10 on a time this and this is something I know quite a bit about other things in the tax bill are no longer going to be able to deduct interest on student loans no longer going to be able to deduct it and you know there's no more adoption credits no more adoption assistance that's going away.
[00:13:47] I mean I don't know probably diverting that to dreamers for all I know. You know if you're a teacher and let's say you're buying you know you know different school supplies for your children you know that's not going to be deductible anymore. So you know thank you President Trump that you know we're really glad that you know you had the five million dollar deduction that's going on for you know for the business owners and then you know the all the fat cats you know they're going to you know do really well by that teacher or that you know person that you know was foolish enough to go to college and get themselves you know hundreds of thousands dollars and that unless they were you know a doctor and that's not foolish. But you know I think in today's teenage that going to college is a joke because there's a lot better options you could do. I mean there's Turkish programs there's all sorts of you know you know like to see a free program. You know I spent maybe five six thousand hours on that. Got way more about than I did at a college. And some of you might be saying oh well maybe this guy's not smart or he didn't get into a good school. Guess what I got to the heart of school to get into public school in New York and did well in that you know I had straight A's in high school. Never missed a day in high school so it's not like I'm you know some delinquent over here you know who you know was mad that I couldn't hack.
[00:14:53] I just know that you know that basically everything you're learning in school is you know already obsolete by the time you can learn it and it doesn't apply to the real world especially in terms of business you know entrepreneurship. You know all these B.S. majors they have you know pretty much all major in basket weaving and other thing they've got going on the tax bill is is no more Rothbury characterizations. So what this is let's say you had an IRA and you decided to convert it to a Roth So you've got an IRA that is pretax money meaning you've got to deduct it from your taxes. So you put in $10000 and you made a hundred. Now the government thinks you made 90. Now what was going on since 2009 2010 they started allowing people to convert their IRAs into Roth IRAs meaning the government would get the taxation so someone had let's say $500000 IRA and then you know they decided to convert to a Roth. They'd have to add $500000 onto their taxable income for the year. So again there's not a lot of people who are doing it all in one shot. You know it makes it makes a lot more sense to you know do enough you know each year to kind of fill the next tax bracket. And there's all sorts of games you can play with that. And again know you can talk with your financial advisor about that but one of the things that people used to do is that there was this re characterization and with the characterization was let's say that $500000. Let's say it ended up going down.
[00:16:13] So the market crash and now the 500 is now I don't know like 300. Well people will do is that. It's almost like a like a mulligan where they say you know hey know you know I had to pay taxes. Five hundred. But now you know two months later it's 300. You know let's do a redo on that because you know obviously you would be much better for me to you know claim it out the 300 level and pay taxes on 300000 and 500000 that's going away now. And again that's probably makes more sense. You know unless in limited circumstances to just wait until the next recession anyways. Before you go ahead and do that and I want to get into now is going to be and but you know it's going to take a quick quick little drink here.
[00:16:53] All right now I think for a much more appropriate name for these guys would be Profar because these guys are the fascists. These guys are the ones who are endorsing fast fascism and this is a point that I was harping on over a year ago and the Facebook like some of the very first Facebook lives I was doing I was talking about this fact because you look at the people who supported Hillary.
[00:17:16] You look at the people who fund the Democrats. You look at the people who fund other rhinos. It's the big banks who are the who are the big banks supported. They all supported Hillary. It's the George Soros of the world. Who do they support. They support the Democrats. It's the media who the media support the media supports. Obviously that is for Donald Trump all the power elite who are the power elite support. Obviously they didn't support Donald Trump. And so you know wouldn't you think that that you know some of that if Trump was a fascist that he'd have the media behind him that he'd have the big banks behind him that he'd have you know the you know the scumbags like source Soros behind him. You have all the pedophiles in Hollywood behind him that you have all the power left behind. None of those guys were behind him because they hated him because he was stopping their fascism their fascism was the Transpacific Partnership and just you know and I actually read part of the WikiLeaks that came out on the financial part of it and it was absolutely disgusting what they're trying to do. One of the things they are trying to do is let's say let's say you're in Italy and you want to ban Monsanto and let's say Monsanto is making no one's hypothetical.
[00:18:17] Let's say they were making $2 billion a year off father GMO Frankenfood. Now what would happen is they would then take you to a tribunal set up basically of the corporations themselves and then they could then impose a penalty on Italy and say OK Italy you owe Monsanto $2 billion. Because we're the TPP and we're fascists and this is basically the new one world government that is going to come in through the skies.
[00:18:43] And what also you know sickens me is that a lot of these Republicans especially in my state Arizona where you know soon to be ex Senator Jeff Flake because the guy is too much of a pussy to run again because you know he knows is going get his ass handed to him by R. Kelly Ward Dr Kelly Ward. You know he was saying oh well you know these aren't my Republicans because these Republicans don't support free trade. There is nothing free about the Transpacific Partnership. You don't need a well written in secret that's you know ten times longer than the Bible to then you know talk about how free you are. You know I could write you know how free we are you know on a piece of paper like this to then talk about if you wanted free trade so that's one of the things that's going around you know. You know even amongst the Republican media out there you're talking about how you know the Transpacific Partnership is this big you know it was such a blow for freedom around the world as a blow for you know you know for free trade.
[00:19:37] And then we look at who the fascists are. You know the EU you know that was that's fascism.
[00:19:41] And how has the EU set up the EU set up at the very first build a big meeting to happen I think it was 1940 1954 are many 56 and I'm not going to get into what to build the bridges and all that stuff it's a whole nother rabbit hole but you know that's where they were saying oh we're going to have this trade bill. Nobody And this was again in the 50s a lot of you probably think it all of a union come about the late 90s or early 2000s. Well no it was the plan was hatched in the 50s they signed on the trade agreements and now if you're let's say you know the one of the main reasons there is Briggs's because if you were you know a British citizen you had unelected EU bureaucrats mainly bankers the fascists who are the ones making your laws and then even the worst part is that part is these are the guys who are then you know grandstanding about how you know we need to pay higher taxes and you know institutions like the IMF are completely tax free and if you want to talk about the real fashion that's going on right now the real fascism fascism is the central banks the central banks like the Bank of Japan. They're printing money out of thin air so one of the guys in here this making the you know typing on a keyboard because you know it's you know too slow to print money these days. And so what they're doing is they're printing money out of thin air then using that money to buy their own stock market.
[00:20:48] So they have 75 percent of Japanese ETF right now are owned by the Bank of Japan. That is actual fascism that is going on and not one fucking word from the Democrats or the media talking about this. This is something I've been harping on for a really long time and then so here's a clip that I want to play from CNBC. This is actually from a couple of years ago actually you know it's from 2012 June 2010 2012. And let me just play a little bit of this for you guys.
[00:21:12] I think that right now the question is do we all work for a central bankers. That's what I want to address to our guests tonight. Is this global governance at last. Is it one world the central bankers and charged him Jimmy Orio.
[00:21:26] And the short answer is yes and it's done by stealth because it's too hard for the average person to understand what's really frustrating is that Donald Trump is now playing into their hands when he knows damn well what's going on. And then the stock in the bank of Japan doing this the ECB they've bought huge amount of corporate bonds. And again I'm going to do is I'm going to have these all linked in the show notes about where the different videos and referencing the different articles and I'm referencing they're all going to be in the show notes so make sure you guys check it out. Libertarian advisor dot com. You know also you know if you're only you know on your way home from work right now you don't have you know the full time to listen to all this. And we will also be on iTunes or Google Play stitcher pod being YouTube's you know it would be a great thing to listen to later on please share it. You know just trying to get the word out there and you know another example I want to use is the reason why I'm so flustered about all this tax reform talk is because if you have the very first Dartos ever created December 23rd 1913 had four percent interest on it so that now it's the very first borrow a dollar that the government borrowed in 1913 was had 4 percent interest that was due on it. So what that meant is at the end of year one you put in a dollar and you owe a dollar for guess what.
[00:22:38] You can never pay back a dollar for with one dollar because what you have to do is you have to purchase another dollar. And then and then all of a sudden now you 0 2 0 8 and you've only created $2 or so right from the beginning. This entire system is a fraud. This entire system is bullshit. It's all Ponzi scheme. And by the way it's not like I'm some liberal up here you know complaining about oh woe is me and I can't make it. You know I've got a business that's bringing in six figures right now. And I also have no work in the stock market so all is printing money right now is going to benefit me. So I'm actually talking of my own self-interest right now because I know because I don't want my you know grandchildren and great grandchildren to be slaves to this whole system. And the other reason the stock market is so high is because you know you've got people like the in this from zero hedge right now just the other day. This shows a Swiss National Bank owns 80 a billion dollars in U.S. stocks. So for a family of four it's like being like $40000 for every Swiss person there. You know I wish our government owned $40000 in U.S. stocks but instead we've got $50000 of debt and that debt doesn't include Social Security also doesn't include Medicare which is more of an unfunded liability than Social Security. So it's absolutely crazy what's going on. If you want to know why the stock market so high. You know this is a former Federal Reserve governor. March 9th 2016. Richard Fisher.
[00:23:50] And let's see what he has to say about this because I use this analogy before I heard him meet him use it. The power.
[00:23:56] Behind the stock market. I think that power is running its course. I like to say that we injected. Cocaine and heroin into the system and our maintaining our Redland. Has.
[00:24:10] Ha.
[00:24:11] Yeah. So this is a this is not me saying this isn't a former Federal Reserve governor who just recently stepped down saying this that you know it's that he was on heroin and cocaine now is being maintained on Ritalin. And what they're doing is it's the other central banks have actually stepped up their purchases. The Fed stopped purchasing late 2014. But since then there's been even more. This year it has been two trillion dollars. That was a cause of like you know I think June of central bank purchases worldwide. So what they're doing is they're printing money out of thin air then using that money to buy up stock markets which then make everything look all rosy. And one thing that really pisses me off about Donald Trump is that last year in a debate September 26 you know I think it was the first debate with Hillary. This is what Donald Trump had to say about the stock market. And he also said this in June as well. So this will be June 2016 he said this and then again this is September 26 2016 Donald Trump.
[00:25:02] We have the worst revival of our economy since the Great Depression. And believe me we're in a bubble right now. And the only thing that looks good is the stock market. But if you raise interest rates even a little bit that's going to come crashing down. We are in a big fat ugly bubble and we better be awfully careful and we have a Fed that's doing political things this Janet Yellen of the Fed the Fed is doing politically by keeping the interest rates at this level and guess who Don Trump just picked as is New Federal Reserve Chair going to spend a ton of time in this he picked the wrong power.
[00:25:37] He may as well just let Janet Yellen in there because Jerome Powell is basically a clone of Janet Yellen who has no difference and people say oh he's a Republican he's a Republican that fucking Obama pick. Do you think though that like any Republican Obama also big news or too. So you want to talk about all these you know Republicans you know that are in there right now. I mean he isn't he. Jerome Paul is an absolute clone but Donald Trump is in a very very tough spot because if he tells the truth you know basically that this whole system is you know a giant. Everything come classing down and he would get you know. Absolutely. You know probably nothing Don. But actually the best time to get something done isn't a crisis. So it really pisses me off. He's playing patty cake here because he has two decisions right now. He either save the dollar or he can save the stock market. He chose to save the stock market completely selling out his message and was so wanting to talk to other libertarians right now. You know it's going to be a very very hard sell you know to try to get them to vote for him again because you know he's basically completely renege on this. And this is somebody who can't fire the Fed Reserve is above the government you're not allowed to fire the Federal Reserve chief.
[00:26:41] It can't be done now Congress could say you know the Fed is illegitimate and revoke their charter and they did it once in 1812 when the British Open the owner the what they called the first central bank of America. So the British came down came over here burned on the fucking White House.
[00:26:54] That's down in your textbooks because the textbooks are owned by the Rothschilds. You can go look it up because they are a major winner of Thomson Reuters. So but you're obviously not going to hear that in the fake news. And I forgot I was even going it's because it's so frustrating. You know somebody when Trump is talking about you know we need to all the fat you know that's so important. And then over here he's got a business as usual a pig. And again he's in a very very tough spot. But there's you know the you know if he were to come out and say you know this is what's going on if you were to come talk like me you know Mark you're probably around the 12000 or something like that maybe even lower. And then it.
[00:27:31] But the absolute base fundamentals of this is we have a debt that you can never repay and you tax everybody 100 percent and you assume they still work the same which they obviously wouldn't. You can take all the rich people's money and there's more debt than there is money and you can never repay this. And so we couldn't you know work our way out of this debt.
[00:27:48] You know when we had surpluses which actually were real surpluses if you counted so security but you know Clinton didn't save those he ended up spending those. And the only reason he had surpluses is because the baby boom started in 1946. People spend the most amount of money in their life time at age 46. If you add 1946 to it and 46 you get 9:22 which is right when Clinton came in. So that's why Clinton you know benefited along with the with the dotcom boom had nothing to do with any of his policies. And so you know now all those baby boomers who are turning 46 92 now they're turning 66 or 71 and now they're going to be forced to take liquidations from their retirement accounts because once you turn 70 in the half we're actually see April 1st and 17 1/2. The guy really makes you take out. You know what the call required minimum distributions are R-Ind. so that starting for the baby boomers. So so being a net positive to the economy now there could be a net drain on the economy. So it's very disheartening you know having Trump you know basically talk like me last year. So a lot of people are getting mad at me like oh my God you know you're banding or you are not fully supportive of him. No I'm keeping his ass honest but he was talking about over a year ago. He's the one that flip flop not me. It's very hard to convince libertarians are trying to get you know get back on the Trump train next year.
[00:29:00] But again you know this is you know I've got another model that we've got to pick up from the airport right now. We're heading up to cancún. So you know you get to watch the kids and that's give me a much needed vacation. First one we've had ourselves but again make sure to check out the podcast on iTunes and Google Play soon stitchery PAUDEEN YouTube probably a few other platforms for dating or libertaria adviser dot com. Make sure to share links with you and at least one of these a week. But you know I'm out of here. And again I apologize for some of the language but you know when it comes down to these issues you know I have to say that Jesus whipped people for a lot less. He went into that temple and he whipped those money changers. And what they're doing today is about a billion times worse than what they're doing the money changers. They didn't have derivatives back then in the biblical days they didn't have you know swaps. They didn't have you know futures markets. They didn't have basically so many you know somewhat NCDOT didn't have all this synthetic bullshit that they have right now that is built on a house of cards. Speaker of House of Cards we didn't get into you know all the pedophiles in Hollywood. We didn't get into the JFK files. We need to get into Donna Brazile and the Democrats you know fleeing the sinking ship. That is the Democratic Party of now trying to throw Hillary under the bus and the people are you know sending the links of oh my god what's going on. Look Donna Brazil admitted this.
[00:30:14] Again no shit that the Democrats rigged it. And I honestly think that Bernie Sanders would have won if he again. Obviously not Bernie Sanders fan. I mean I think anyone listening to me can probably grasp that. I think Bernie Sanders would have given Donald Trump a run for his money. I think he would run a lot better than the old which Hillary Clinton and the Democrats have no one to blame but themselves. Not the Russians because if anyone had ties to the Russians it was the Democrats and even guys can go back to podcast episode 5. Listen to that one. Anyways peace out. Sorry for all the rambling on you know some of the swearing in this but it's only because I care about America. I do want to make America great again. And I know that the best way to fight now is now through the information war because a lot of people you know want to talk about how they're going to go out and you know they're going to use your air 15s and engage in some sort of civil war when everything goes to hell in a handbasket Well guess what. If you're too much of a pussy to say something now you're probably too much of a pussy to go out and actually you know shoot somebody if it does get into a war. So that's why I'm fighting now because you know I'm not going to you know guess what. I'm not going to be fighting. If there is some sort of civil war because my ass is prior to me going off shore you know because.
[00:31:16] But everybody else duke it out because you know at this point fighting an actual civil war is pointless. But Democrats and the George Soros of the world are trying to stoke it and that's why George Soros has poured $18 billion into a fun. Anyways thanks for listening. Got to go. Better.
Wednesday Nov 01, 2017
Wednesday Nov 01, 2017
We get into how the real Russian collusion story involves, Hillary, Podesta and Mueller.
Watch full video here: https://youtu.be/aQ0gQon9SFM
Wednesday Nov 01, 2017
Wednesday Nov 01, 2017
In this podcast we talk about the politics surrounding the health care debate. We also discuss one very important issue at the end that no one is addressing.
Full video: https://youtu.be/4PkVeWhDpIk
Wednesday Nov 01, 2017
Wednesday Nov 01, 2017
In this episode we talk about the new French President Macron and his ties to the Rothschild Banking Dynasty.
Full video here: https://youtu.be/yaUJx_88fCw
Wednesday Nov 01, 2017
Wednesday Nov 01, 2017
In this episode we talk about Trumps tax plan and how that would effect people as well as companies.
Watch full video here:https://youtu.be/K7vMv2fWQvw