TFTC: A Bitcoin Podcast - #512: Unlocking the Sound Money Mindset with Ian Carroll
Episode Date: June 7, 2024Marty sits down with Ian Carroll to discuss the series of connections one makes once orange pilled. Ian on Twitter: https://x.com/Cancelcloco 0:00 - Intro 0:50 - Trump and Fauci 10:57 - Intel agencies... 14:22 - River & Unchained 15:38 - People are being forced to notice 19:17 - Optimism 22:17 - Evil masterminds and incompetents 29:38 - Ian’s research and perspective 33:30 - Gradually, Then Suddenly & Zaprite 35:07 - Currency wars 39:52 - Fix the money, fix the world 48:32 - Wallets, not ballots 51:31 - Strong towns and local business 54:37 - Poisonous food/healthcare loop 58:07 - Fiat standard 1:01:21 - The system is learning too 1:04:02 - Sound money mindset 1:11:18 - Pod 2.0 and Nostr 1:15:48 - Censorship resistance 1:19:54 - We’re so early 1:24:03 - Unrealized bank losses 1:28:29 - Truth For The Commoner Shoutout to our sponsors: River Unchained Zaprite Gradually, Then Suddenly TFTC Merch is Available: Shop Now Join the TFTC Movement: Main YT Channel Clips YT Channel Website Twitter Instagram Follow Marty Bent: Twitter Newsletter Podcast
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tftc and enjoy this episode
you've had a dynamic where money's become freer than free
If you talk about a Fed just gone nuts, all the central banks going nuts.
So it's all acting like safe haven.
I believe that in a world where central bankers are tripping over themselves to devalue their currency, Bitcoin wins.
In the world of fiat currencies, Bitcoin is the victor.
I mean, that's part of the bull case for Bitcoin.
If you're not paying attention, you probably should be.
All right.
We're live again.
Welcome to the show.
Absolutely, man.
Good to meet you.
Thanks for having me on.
Well, I'm happy we're able to do this.
I think the work that you are doing is extremely important,
highlighting corruption and the inability of the media
to cover big events going on in the world is more pressing
as time moves forward,
as the incumbent political intelligence banking apparatus loses control.
They're really going to try and clamp down on speech,
and that's certainly happening throughout the first six months of this year globally
um so i think the work you're doing is really important i've been following you on twitter for
i think almost a year now and i think uh i think we need more voices like yours out there so
i'm just happy that you agreed to come on yeah thanks man yeah we're definitely just getting
warmed up too there's a lot of 2024 left ahead of us yeah what uh what do you think in that regard
like what are you looking out for obviously we got the election here yeah um i'm thinking about
all the possibilities and i tend to i tend to speculate forwards on based on what we know now
about what's happening right now like the election is a good example with trump it's like we know
a lot about trump um and it's important to have a slightly like an unbiased take on trump because
there's a lot of people that have a really biased negative take on trump and a lot of people that
have a really biased positive take on Trump. And so in the case of the election, I try to look at
hopefully just the facts and what we know about him and what we know about the prosecution and
the various agencies and such that are interested in him not getting elected. And
based on what we know, it's like going forwards, what are the possible
operations or realities that we might be seeing playing out? And it's hard to say for sure what's
really going on with the prosecution. But looking forwards, we can look for evidence of the various
different you know possibilities to sort of hopefully by the time november rolls around
have a sense for like what the hell they're doing and whether or not trump is genuine in what he's
saying and what team is he really playing for which i don't think there's simple answers to
any of that i think that it's a very complex milieu of reality yeah i've always been under
the impression that trump's just playing for team trump um yeah has really tapped into the populace
like guest if you will um yeah all right that's why i put it honestly is team trump because like
team trump his personal identity like there is a lot of like america first in trump's personal
identity i think but i don't know if it's necessarily rooted in the real populist
sentiment that trump supporters want to extract from what they like kind of put on to him because
trump is not like us like he is not from our world he's not one of us um and i mean sure like
he does speak in ways that sound like they support us but i'm not sure that if you actually look at
his four years as president it's like did he really actually look out for us like i don't know
no i mean operation warp speed is a big one there's a lot of people i brought it up on twitter
many times like hey like wasn't the trump isn't trump the guy that started operation warp speed
and people often hopped in the reply saying oh it wasn't really him he didn't really have control
he was he was more open but it's like i think he sort of did yeah yeah he's a lot more complicit
in that than a lot of people want to admit and it's not necessarily that he masterminded anything
it's not necessarily that it was all his idea or he was like it's possible that he just got
plate it's possible that his you know financial interests just leaned on him hard enough or that
he wasn't informed enough to stick up for what needed to happen at the time it needed to happen
um it's not like i think people try to always go to black and white versions of what's going on
when it's always more complicated than that but yeah operation i mean with fauci's hearing coming
up operation warp speed is big on my mind and i've been doing a lot of digging into fauci i'm
plan on doing a show about that later this week because covid reckoning is kind of hitting the
mainstream media a little bit now in an important way um and i don't like it's important that people
don't forget about what the fuck that was no and i really hope i mean i'm i wouldn't even say
cautiously optimistic i don't think i have any hope that there will be a reckoning but it does
seem like the the public conversation around is certainly changing i think he had a large i think
it was the telegraph in london come out with uh an article yesterday the day before saying hey
like excess deaths may be driven by the vaccine which is a big wow like they're finally admitting
it yeah like oh shit you mean that thing that we were all saying for years now
yeah it's it's neat how it's leaking out into the various foreign medias in countries that are not
as controlled by american big pharma and you can sort of see in real time the monetary reach of the
like sort of american-based pharmaceutical establishment and sort of see where their
their like power system not necessarily ends but where it fizzles a little bit and those are the
places where we're starting to get honest reporting about what really has happened because those
countries are pissed rightfully so well it all comes down to ad dollars right because the u.s
and new zealand are the only two countries where these large pharmaceutical companies can actually
advertise and so these areas where there's no financial motive in terms of ad revenue
even possible like it makes sense they would be more open about these conversations
100 and during during the event like there was a lot of political pressures and motivations like
on a global scale like western power sort of aligning around political objectives around
the pandemic and there was a lot more sort of uh elements that encouraged cohesion about the lies
but now that that's all gone it's like you're saying it's like the dollars aren't there the
political motivation isn't there and they're dealing with because they're all dealing with
the the fallout of these sort of like american it's hard to even call them american these like
western pharmaceutical companies malpractice essentially um and so they're left with all
the consequences and no more motivation to cover it up which is kind of exciting
yeah then yeah like i've had ed dowd on a few times throughout the years and i'm sure you're
aware of him but i think what he's honed in on is at the end of the day the insurance companies
literally can't talk their way out of the the cost that they're incurring due to people's life
insurance claims being claimed because they're dying at excess rates and you literally have
this large vaccine rollout that many people took beginning to affect financial markets particularly
the insurance companies that like it's a problem that you can't hide in a balance sheet i think
it's being laid bare in terms of the financials yeah yeah the money always talks yeah and i think
with the emergence of rfk what people think about his particular campaign is one thing or other but
i think the focus on fauci and vaccines in general has really brought up the fact that and most people
don't know this but fauci was front and center with the aids crisis as well with azt and the
fact that we gave the sky the reins of public health policy again after the disaster that was
killing tens of thousands hundreds of thousands i think globally of individuals by forcing azt on
them is is something that more people should be aware of yeah i mean it's telling about how a lack
of education reporting and historical understanding is critical to the sort of like mechanisms of
control and manipulation that these people in power rely on because like for exactly what you're
talking about right now i'm part way through rfk's book about fauci right now um and if everyone knew
like just the most basic facts about fauci's career no one would have ever stood for him being
the covid czar it would have been the most ridiculous proposition ever um because his
playbook is exactly what he's done his entire career and what he did during covid is like
blatantly fraudulent in the exact same way it's always been but because no one knows those sorts
of things because no one reports on it because there's incentives not to um everyone just got
played all over again yeah what do you think do you think justice prevails here i mean obviously
he was on the hill a couple days ago i think he's gonna be on again but i mean it's obvious he
overtly tried to skirt foia requests by telling people to email a certain way
uh to the point where he had individuals changing characters of their name to to like dollar signs
um yeah uh what is it uh global health alliance for eco alliance yeah yeah um all these things
are intertwined and the whole like lab leak theory it's like it i think it's become clear
that it was most likely a lab leak but even he's still denying it on the hill and i think i would
say like from what i've seen it seems like he's perjuring himself but yeah i mean i'm pretty
i'm curious to see what comes out of like the jim jordan clip that's circulating right now like jim
has obviously a lot of flaws he's not a great politician either but he did seem to sort of be
intentionally trying to catch fauci in a perjury um on the stand when he asked fauci about whether
he had downplayed the role of the lab leak theory or not and fauci clearly lied about his role in
that um so i don't know as i'm necessarily holding out for any successful reckoning
coming out of what's going on right now but one thing i do think about all the time is how
we are currently in the midst of a technological like revolution a fundamental shift in the way
that all culture works and in the way that government works because government is based
on culture right and so i don't think that the people that sort of are pulling the strings of
the various pieces of our world are young enough and wise enough to really understand the effect
that social media and sort of like the new media landscape has on political structures and power
structures and i think the court of public opinion has shown time and time again that it has a ton
of power in ways that are hard to guess before they actually play out here i'm going to move
this a little bit so that hopefully doesn't keep brightening up for my window um so i'm of the
opinion that i hope that we're in an unprecedented time of us all collectively changing our minds and
getting loud about a problem can hopefully do more than it's done in the past to make real change
and i'm kind of optimistic about that i am as well i mean it's in the digital age particularly
the social media age i mean this is a famous rogan clip back in the day when he was talking
about the internet and podcasting and stuff like that but it's like literally a dilution of
information it's like a river that is massively wide and you have one individual the intelligence
apparatus the government whatever it may be in the middle like with a small net trying to catch
all the fish it's overwhelming to an extent that's a good way to put it and i this is actually one of
the things i focus on the most in my reporting is intelligence agencies and their role in all
of this and i think that it's it's intentional and criminal how undereducated the public is
about what intelligence agencies actually do and how involved they are in our daily lives
And I think that the more people that can wake up to the role that intel agencies, not just the CIA, like foreign intel agencies to adversarial ones and allegedly allied ones, like every intel agency has a serious interest in what the public thinks.
like that's that's the nature of the cold war era that's the nature of like
the nuclear age really is like now that real kinetic conflict is sort of dampened globally
the inherent type of conflict you turn to is like cultural conflict and cultural subversion
and i mean that goes back long before computers but now that we live in this digital age like
cultural subversion happens in your twitter feed it happens in your instagram feed it happens on
the news articles that are coming out to influence what we all think and every intelligence agency
inherently is interested in that like the foreign ones that are trying to subvert us um in a
negative way they obviously want to change what we all think to break our country apart to break
our culture apart but then inherently that means that our allegedly like our intelligence agency
that's supposed to be looking out for us the way you combat that is by them controlling what we
see and think before enemies can and so it's it's inherently like our whole information space
is a intelligence agency battlefield more or less the ghost in the machine as they will yeah
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why i honestly think covid was one of the biggest missteps by this global intelligence apparatus
because it really woke people up to holy shit we're being played on a massive scale when you
combine the fact that they covered up the lab leak theory with the vaccine rollout historically
have been told to get a safe vaccine to market you're going to need 10 to 15 years of testing
they're like yeah we can do this in nine months that was initially what i was like i'm gonna hold
off on this and then really do more research into who's involved and it's like i'm definitely gonna
hold off on this and then on top of that like the masking social distancing the
humiliation ritual that people went through and then coming out the other end being like holy
shit i can't believe we did that what else are they lying about and then obviously what we focus
on a lot here is bitcoin and once you see that the whole monetary system and financial system is
a complete ponzi scheme and you're told it's the most secure system from a financial perspective
that humanity's ever created and it's like all right what else are they lying about they're
lying about essentially everything food health money education i mean that's actually a really
important aspect to it too it's like kovat there's a couple political things that i think woke a lot
of people up um uh be it like black lives matter or like the treatment of january 6th the election
trump all that um kovid sort of those more political things woke a lot of people up in that
arena but then in what you're talking about the monetary space is like now that we we went through
that crazy crypto cycle that exposed a lot of shall we say shortcomings and questions not
necessarily just in crypto itself but in like the way it was treated the way it was influencing the
world like sam bankman free just a lot of sketchy stuff there that was sort of more like the more
intelligent tuned in people started to ask a lot of questions but then simultaneously we dip into
like an economic like almost collapse like that affects everyone the inflation that everyone's
going through that pain like economically starts to wake everyone up to what's going on not just
people that are interested in politics and not just people that are interested in crypto
and i think that the game stop thing that happened sort of in the middle there is another example of
something that sort of like woke up a sort of like niche but highly motivated crowd to start
actually like digging through what kind of crime underlies the whole market space and so sort of
there's like a wake-up call for everybody now and it's uh really refreshing despite how shitty a lot
of it is yeah i mean it's terrible to see people struggling financially but i do think once you
start really attacking the lower layers of maslow's hierarchy of needs particularly people's
ability to feed themselves and shelter themselves which inflation has significantly hindered over
the last three years the people are forced to ask questions i mean that's one of the biggest
trends on tiktok and reels over the last year year and a half is people doing the selfie videos in
their cars complaining either about their their receipt at the grocery store or the amount of
money they're making compared to how hard they're working yeah it's the kind of thing that everyone
can understand and everyone feels right there in their lives regardless of your age your demographic
like the only people that don't get that are the people doing extremely well and not only is that
a small group of people but it's also sort of like inherently the group of people that are kind of in
on it in certain ways those benefiting off of the corruption yeah and so you said you're optimistic
i'm as well and that's one thing i try to do here at tftc and i think you do a good job of as well
which is i think it's important to recognize that all this shit is fucked up in the world
there's corruption and there's many different stakeholders trying to manipulate you in many
different ways but for a lot of people it becomes all-consuming and somewhat nihilistic where
they feel like i have no agency i have no control what we try to do and again why we focus on
bitcoin and bitcoin specifically not cryptos i view bitcoin as a tool to build yourself
away from these problems to build your way out of these problems um and i think that's what we
need more of in the world is people like yourself myself and other independent media uh operators
is that i i never like to refer to myself as like a journalist or anything like that but people
putting out yeah i agree independently um just be like yeah shit's fucked up but we can build our
way out of this and the most important thing is to recognize that things are messed up and the
people that got us into this problem are not going to be the ones to get us out of it like you've got
to do some things yourself um what you're talking about about this uh sort of like the black pill
versus optimism um i think it's not a coincidence that the bitcoin community is uh as like on
balance is more engaged with sort of like personal wellness or health or fitness or like personal
finance like their bitcoiners tend to be more tuned in to the types of things that like you
can do for yourself in your own life to make your own life better um and i think that that's a big
part of this sort of nihilism is we our culture and our education system and our find like
everything about the way that most americans and people around the world live today sort of
inherently pushes you to feel powerless and to just sort of be a drone and to not have any influence
or say in what's going on and and it's easy to feel that way when you're looking outwards at the
world and looking at what you can't change out there um but the moment you start to look at your
own life and think about like what you can do for your own health or do for your own happiness or do
for just to like shrinking that bubble down can help that optimism immensely because the world
has always had a million horrible things and a million good things it's like you know we are
eight billion people all going through this experience of life together and i think it's
easy to find like just because we have so much information now it's easy to find all these
problems in the world but they were always there like and in a lot of ways it was probably worse
before because no one knew about them so it was like smooth operation for all these people that
were trying to control things and now like it yeah we know about more problems but knowing is
you know the the beginning of solving so yeah not only that i'm not sure if you saw it during
covid but me i think it was the american mind did a two-part series on mass psychosis the first
defining the problem and highlighting that the world was engaged in mass psychosis with
the lockdowns and the covid reaction and then the follow-up was all right how do you get out of
mass psychosis and it's literally ridiculing these people because at the end of the day
i'd be interested to get your thoughts like do you think there's some grand conspiracy or do
you think there's just this projection of expertise and power that is projected onto
the public by these people in power uh and at the end of the day they're really a bunch of idiots
who don't know what they're doing and are sort of just banking on the public's um sort of catering
to social hierarchy to get what they want i love this question i think about it all the time right
now um and my take on it has evolved as my understanding of the world has evolved through
the work i do um and where i'm at now is i think that the and and i think that i'm on the right
track and my my opinion of this will only go deeper down this take is that i think it's both
i think the answer is all of the above as in if you like if you simplify the the thought experiment
here of like is there a global conspiracy or a group of people controlling the world
it's like imagine there's a thousand billionaires in the world like if there's a thousand people
above a certain threshold of power what are the chances that one of them is the kind of person
that thinks big and is kind of shitty and evil
and thinks they know what's best for the world.
Like a Bill Gates who openly talks about how he is trying...
Or even Elon Musk.
These are the kinds of people that have plans for the world
for what they see as making the world a better place.
But it only takes a few people in those positions of immense power
to think they know what's best for everyone
and to also be evil and for what's best for everyone
to be kind of shitty like eugenicist type mindsets for them to create what is essentially a global
conspiracy because you don't need everyone to be in on such a thing like if you're a billionaire
you can orchestrate so many things you can buy companies you can start like non-profits you can
influence politicians you have like just look at the amount of influence that a person like bill
gates has amassed just by being really wealthy and having like an ego the size of fucking mount
everest and just pushing his agenda onto the world and i don't think that they're all on the same
page i don't think that there's like one table where everyone sits at and collectively makes a
plan but there are families like we have very good historical precedent for family dynasties and sort
of empire building that push and pull on each other that work against each other sometimes
and with each other other times um and i think that all of that plays out on a landscape where
the vast majority of people of like the low powers of like the ceos of the world the you know just
like the movers and shakers that are not at the top a lot of those people are just like manipulable
drones or they're greedy bureaucrats that like greed is a really easy manipulate or emotion to
manipulate you know if you have a greedy person with no morals you can manipulate them all day
you just you know dangle the carrot in the direction you want them to take their company
or whatever it is and then you also have a lot of useful idiots that literally are just
dumb enough to be misled and i think that exists throughout every level of the power hierarchy like
a lot of us regular folks are kind of by default the useful idiot just by the way we're all pushed
around by propaganda and so i think for any given issue you can look at the various power players
or wealthy companies or individuals that are interested in controlling that narrative or that
space that idea and then just look at the ways that their desire to influence that be it a
thing like vaccines or be at a thing like the war in ukraine and then just watch their influence
sort of push downwards through various types of connections and contacts down to us and it's not
like it's one unified conspiracy but there certainly is a lot of cohesion at some of the top levels
yeah and as you're describing that can help but think of like esg and dei initiatives is something
that put forth and just depends on useful idiots at the middle management layer of the broader
power hierarchy which would be the ceos of a lot of these firms pushing esg and dei initiatives
that are completely counterproductive to human flourishing and meritocracy um yeah they always
cloak it in like for the greater good for the better limit of the planet or for you know they
always cloak it in something that sounds altruistic and i think in a lot of i think what that does is
twofold is it allows people to trick themselves into thinking it will be better for everybody
but it also allows the people like in power like the ceos to sort of like explain to themselves
their identity to like rationalize how they're what they're doing is right um even if they
actually know it's like this is actually bullshit but like i think there's like multiple levels of
why you cloak evil in a you know in sheep's clothing and for some people it's just so there's
like for them to give themselves excuses to go along with it for other people it's because
they're dumb enough to go along with it yeah now my favorite hypocrisy within that broader esg
movement is actually built like i think bill gates is objectively evil yeah um and i mean you talk
about his his father was an overt eugenicist um yeah i mean he's an overt eugenicist too he just
uses new words about it these days yeah and his dad was a believer in like the population bomb
theory too and like wanted to i think with ted turner like lower the population of the world
and my favorite bill gates hypocrisy these days is a big environmental enthusiast we need to
transition our grids away from hydrocarbons nuclear energy coal um coal's a hydrocarbon
but we need to transition away from these reliable sources to wind and solar and then
on the other side of that he's like well we're actually going to blot out the sun
to uh once you transition to solar power and then we're going to block the sun so you can
utilize none of it it's like wait a second hold the phone yeah he has a lot of those sort of
it's crazy actually how many things come out of bill gates's mouth that like literally two
sentences next to each other say the exact opposite things and people pretend like he
didn't just say it like another example with the eugenics talking point is like i think it was a
ted talk he's he said these sorts of things in multiple occasions but like in the first sentence
he'll say we have eight billion people and it's too many it's putting immense stress on the
environment and if we do a really good job with vaccines we can lower that number to like six
million or whatever by 24 and it's like isn't the purpose of a vaccine to save lives bill like what
the fuck are you talking about um and i don't know it blows my mind now that i'm like doing the
digging and looking at the world more clearly it blows my mind that people don't realize like
the problems with those sorts of like two-sided statements yeah and so let's jump on that like
the journey of the digging like yeah how how clear has the picture become for you and what
have you found as you've been digging in terms of how all this is connected or maybe
disconnected but moving in a similar direction yeah i'm in an interesting position because
anyone that doesn't know my story um i'm i sort of blew up on the social media scene
starting digging into things like black rock and stuff on tiktok um and i think i just hit
sort of like that financial pain point that we were talking about where everyone was starting
to ask a lot of questions and everyone was feeling the financial pain and i jumped on the scene
creating content that was like not just asking the questions but all of my videos are based on
showing evidence to support what i'm talking about behind like in my videos um and not necessarily
saying i know anything but just showing that i'm trying to learn it and giving them the sources
i'm learning from and i think it spoke to a lot of people and and when i started um actually like
just a little over a year ago now a little more i didn't like i was not particularly informed i
didn't i mean i've got kind of a keen mind and i've got a good background in education so i
understand how to sort of like learn and teach myself but um i'm not like some expert or anything
and so it's kind of like i'm on the journey with everybody and at first it was almost like i the
picture seemed clearer at first than it is now because the more you learn the more complexity
kind of like becomes clear the more you realize that everything is not as simple as you would
love for it to be um but in another way it does sort of start to paint a bigger picture like the
picture does start to become clear not as in like we know exactly what's going on or we know who's
doing everything but just in in terms of like i think my my perspective has shifted from
sort of a simplistic incorrect picture that i thought was right to a far more complicated and
hard to understand picture that's sort of more based on like the forces that move in this world
and the way force is exerted on culture and people and politics um and so in a way there's way more
detail i don't understand but the patterns are a lot more clear and i'm a lot more uh certain is
the wrong word i feel a lot more confident in my understanding of that picture now yeah and how
would you describe your understanding like what um i would describe my understanding of the world
as sort of like a series of judgments of probability of um like sort of like a multi-universe
theory as in we never really know what's going on even like when you like have like live your life
in your little town with your family and stuff it's like you never really know what everyone's
motivations are you never really know what's true about history that you've learned in school
you don't necessarily know if the politicians are telling you the truth and so i sort of look at the
world as me assessing the probability of each different theory of what's going on and including
like what we're told is true it's like what's the chances that what we're being told is actually
true you look at the evidence it's like maybe maybe and um and then i intentionally look at
all the various conspiracy theories because what that is is inherently just someone trying to
figure out what's going on and it's not yet proven and often they get proven and proven true and so i
just try to learn about everything and sort of keep each uh sort of like line of reasoning or
line of possibilities open um it's like different tabs in the browser so to speak and as you see
evidence for each one that one seems more likely and they tend to tie together um and i don't know
i'm just kind of like a nerd for complexity so i think that my the way i see the world
is like a whole bunch of open questions with varying degrees of probability to support them.
And, you know, sometimes that hierarchy all rearranges.
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40 off their annual subscription zap right.com slash tftc 40 off i think i've had a similar
uh journey myself where i think i i thought it was like this grand conspiracy that was very
obvious like in the davos class like all getting together and you learn about some of these people
some of them are objectively idiots and then others are more apt at actually getting things
done and then you have countervailing forces like one of my favorite theories that we've talked
about on the show over the last couple of years with Tom Luongo from the Gold Goats and Guns
podcast is he's pretty well convinced that what we're seeing here in the U.S. in terms of Federal
Reserve policy over the last two years is an act by Jerome Powell and the commercial banks that
own the Federal Reserve sort of attacking the Davos class in their banking system because
if they get their way a cbdc will come to market which will cut out the commercial banks so the
commercial banks are owners of the federal reserve and are using jerome powell as this weapon against
the european centric view of a future built on central bank digital currencies and interesting
yeah and that would uh and a couple years ago i would have been wholly convinced that they were
acting in concert with each other yeah it seems like there there's a very strong theory
that's a cool theory and i think that it hits at the core um like one of the most fundamental i
think there's like fundamental building blocks of how we look at the world that the more informed
you get you realize what are the most important parts of the world because those are sort of like
the things that move everything else like yeah the war in ukraine is important that's a big block
but currencies are far more important and if you don't understand what is happening with the u.s
dollar and with currencies and the people that control currencies then you probably aren't
getting the full picture of what's happening with that war let alone the full picture of what's
happening like with some small company over there um and i have had a similar take to you is it's
like yeah they're all the western currency uh elite are probably working in concert but you're
right that or like that it feels like we're in the stages of these powerful people know that
currencies live and die in cycles and no currency lasts forever and the u.s dollar is clearly uh
you know in the end stages of its life cycle and so i think that i don't know which like what
version of it we're in, but we're in some version of the people that understand those things,
like the central bankers, the banking families that have been doing this for generations,
they understand that the US dollar is going down, and it's time to replace it at some point in the
next, you know, 20, 10, 100 years. And so I can only imagine and from the evidence we see in the
world around us, there are a number of different factions vying for the next currency cycle
of the world and you can trace that backwards in history you know back through the pound and back
further into history and it only tracks that moving forwards it's not like if if some idiot
like on the internet like me can figure out that you know we're going to need new currency in the
next hundred years then i guarantee the central bankers know that and it's their job to try to
you know control the next currency whatever it is um and yeah it makes a lot of sense that
they would not necessarily all be aligned even if they seem politically aligned yeah i mean it's a
massive opportunity to control the reserve asset the world whether it's the dollar central bank
digital currency now with the seizing of russian treasury assets a couple years ago you had the
brics plus countries trying to band together to put together their own currency system i think
all of them whether it's the dollar i think the dollar is doomed and i think the painting is on
the wall most people recognize this and if you look at treasuries and understand how the treasury
markets operate and how they should be operating particularly um with gold prices like we've had a
massive divergence um in treasury yields and gold prices over the last year year and a half
um that's a product of all the countries that watched us take russia's treasury asset
like oh we probably can't hold treasuries so china's been massively stacking gold while
they're dumping their treasuries and and at the same time you have like the europeans trying to
bring the cbdc to the floor um and i ultimately think all of them are going to fail and that
whether or not i'm pretty confident that bitcoin will supplant them the timeline um less way less
confident on but when you think of the world of money like that is what we have outside of our
studio in austin which obviously i'm not in right now but fix the money fix the world i think a lot
of the core issues that exist in the world today stem from the fact that central banks and
governments can print money in debt i mean just do whatever they want with it i think that that
is the core issue i don't talk about it that way on my platform all the time because i think that
that goes over a lot of people's it's not as in it's too complex for them to understand
it just doesn't necessarily align with everyone's worldview um but i think that once you start to
do the digging on how everything connects that was some weird synchronicity right there
bingo yeah and um once you get deeper into learning how everything works i mean
especially once you learn about money it's like money is just the tool by which we interact
right like you can't have a system of of humans or any actors interacting in any sort of like
exchange-based way like the moment you have property and people you money is the thing that
binds us all together and whoever can it's not just like a lot of people think of it as just
these things that we exchange like just the money itself but it's not it's like the contractual
agreement between people to work together to cooperate and without a system of contractual
cooperation there is no society there is nothing and so whoever controls the system by which we
cooperate that's like you you have leverage over every facet of society of you know in everywhere
it's and so the way i see it is uh powerful people figure that out ages ago like centuries
millennia ago like ancient babylon shit but now today we're at a time where for the first time in
in history it's not just that we have like yeah uh gold you know metals physical currencies
are pretty rad and they do do a lot for sort of like democratizing commerce in like a way that
the various versions of fiat currencies throughout history have not but now that we have a
technological currency that's based just on mathematics that is inherently ungovernable
and uncontrollable and even if like so there are like conspiracy theories that like there's ethgate
and then there's conspiracy theories that bitcoin was like a cia operation and everything
and it's like even if those are true the technology itself is just the idea it's just the
inherent idea that mathematics makes the most sound type of money there is and it's irreplaceable
and it can always be spun up again even though i don't think bitcoin is like i think that bitcoin is
exactly what we need um and so regardless of what these big power players try to do with
our currency cycle moving forwards the cat's already out of the bag and the only way that
they could stop the crypto uh the decentralization of currency control would be at gunpoint all over
the world simultaneously with an iron fist and it's like that's not going to happen it's it's
just not possible so i i don't think that we're going to a world where it's like bitcoin is the
currency and the only currency i don't think that's going to happen by any means but i certainly think
we're going to a world where bitcoin is like the currency um and there are lots of other currencies
i'm sure there will be lots of cryptocurrencies i bet there will be government fiat currencies
still of various sorts even though we're about to watch a lot of those crash and burn
i mean hell maybe we'll go to an all all bitcoin and digital currency based situation but regardless
of what happens bitcoin is out of the bag and there's no putting that back in the bag
no there isn't and when you factor in the fact that bitcoin exists it's out of the bag it's
been around for 15 years you layer on the digital age particularly communication social media
content distribution like we're doing now so don't podcast youtube rumble it's just going to get out
there and it'll be easily accessible to other people the fact that we can coordinate uh on the
internet and then you layer on like the debt situation globally and if i were it seems like
in May, particularly post-COVID, that the prevailing forces that are either fighting
each other or working with each other at different points in time have completely
lost control. And I think it's mainly a factor of the digital age and the fact that we can all
communicate. And when you begin to really internalize the amount of debt out there
and the fact that like i mean the u.s treasury market and the u.s dollar are overt ponzi schemes
that will never be paid back or never be the debt won't be made whole um and the currency
has to hyper inflate to to service the debt and so both are are pretty much screwed at the end
of the day and if i'm actually sitting in these positions of power and you're losing control like
i think the path of least resistance to avoid social upheaval and something like a french
revolution which i don't think anybody wants to see many people will um will larp about it like
we need a french revolution but i don't think people really understand the history of how
terrible it was yeah it's not the way um but if i'm in a position of power and you see bitcoin
is here and you have these massive debt problems like and you want a quote-unquote soft landing
like the path of least resistance is just let it flourish and by let it flourish i mean just
let people use it and then fix the inherent problems that exist throughout the global
economy that were created by fiat there will be a lot of repricing in debt markets and in
asset markets people will be scooping up things for for pennies on the dollar but the fact that
bitcoin exists is actually a great escape route for this power structure that is to me obviously
lost control that's a really good point and i think that a lot of people try to address this
question of like will there be bitcoin adoption by the mainstream like i think a lot of people
always want everything to happen instantly obviously they want easy answers that are
instantaneous and especially in finance it's like regular people myself included before i had
started to learn more we it's so easy to look at the financial world and assume that a thing would
happen in a month like that that you know people would see that this is happening and like they
would shift but but that's it's inherently not the way like like a lot of types of trades and
contracts take years um but then a lot of like the power structures that are holding on to the legacy
systems are like 70 year old men that don't want to give up their power and aren't smart enough to
realize what you just said and then there's like a lot of 50 year olds in there 60 year olds that
are starting to get the picture of like yeah the writing is on the wall but i think that it will
take a certain dying off of the stubborn elders of the system combined with sort of like a rising up
of the more progressively minded or at least open-minded um youngers of the time to sort of
fully enact that shift um because i think inherently there's a lot of like dinosaurs
in politics and finance right now
that just could never even begin to grasp
that Bitcoin even is an option
for them to get out of their predicament,
let alone accept that truth
as sort of like an accepting defeat in some ways.
But it's inevitable.
And I think that what you just described
is actually such a cogent take on it
that there isn't another way out.
You could try to invent a new fiat currency
and lie to everyone as though it wasn't just another fiat currency but the cat's kind of out
of the bag now yeah and it's again are you gonna go to the arsonist to put out the fire i mean
that's that's another thing i try to highlight particularly for people who are extremely
politically engaged and fall into the trap and the false framing i would argue a partisan politics
red team versus blue team it's like you are wasting your time and your energy and to meet
the new boss same as the old boss it's one big uniparty system potentially controlled by
intelligence agencies and a bureaucratic system that's been erected over decades that really
doesn't change at all with with a new president or a majority in congress or the senate um and
like just focus on things that you can actually control like bitcoin is a vote
in a sense and that you're voting like, hey, I don't want to operate in this fiat system.
I'm going to go build on this open source protocol and the layers above it to solve
these economic issues that exist. I think that in a similar vein, I think that
monetary voting is the most effective form in all the forms of monetary voting. And a huge part of
what I've done with my channel is actually digging into what corporations own all the products on
our shelves who owns sort of like all the various pieces of our daily lives and then trying to find
like small businesses family and founder owned businesses businesses that are not giant publicly
traded mega corporations that are all managed by the same like five top shareholders like all the
management firms because when you when the more that we can get regular people voting with their
dollars into companies that are managed by real regular people that care about their employees
that live in a community that creates a circulation of currency within like regular people within our
our economy that is completely different than when you spend money in a giant corporation it
goes up into like the shareholders coffers and those like that system is inherently built to
sort of keep insiders at the tables at the top and to have them managing the companies in a way
that is sort of like a giant collusionary monopoly game where like all the competitors in an industry
like all the big pharma companies their boards of directors are all elected by the same management
firms by the same top shareholders and so like how much competition is there really in that system
and it's a system that inherently breeds corruption and incentivizes greed and
voting with your dollar to put our commerce outside of that system back into regular business
owners like regular people i think that's it's just another example of like voting with your
by investing in cryptocurrencies and holding cryptocurrencies same exact thing it's like
take your money out of the banks we've all seen what banks do these days um and we're about to
see more of that i think this year um and i think that anytime like yeah political voting is cool
but voting with your dollar is far more powerful yeah just remind have you ever read um strong
towns by charles maroon i have not it's a an incredible book that really highlighted like
the economics of what you just described um in the most lucent way that i've ever ever heard it
described and basically the concept part of the book he really compares like small towns strong
towns like what you want to focus on from a small business perspective is revenue per square foot
and in a couple chapters in the book he highlights that super stores like walmart and target their
revenue per square foot is abysmal but since they're these large conglomerates they can eat
that that margin hit um but essentially when you go and you shop in these these conglomerates within
your small town like they're taking that money and setting it back up to to corporate that's
staying in your town like you just described and so you can make an economic argument that
it actually if you want to live in a better town like you should focus on these small businesses
because they in terms of revenue per square foot are much more efficient and that money like you
said stays within the local economy and that's one thing again you talked earlier about bitcoiners
really understanding the money problem then seeking out uh and looking out in the world
and trying to figure out where everything else is messed up and food um and healthy living is
Definitely, I think, one of the first that the Bitcoiners gravitated towards.
And we're seeing it with the Beef Initiative, which is an initiative to connect local ranchers with consumers in their local areas.
And at the same time, educate them about the ranchers about Bitcoin and why they should consider putting Bitcoin on their balance sheets to make sure that they are financially viable into the long run.
But down in Texas, where I'm typically at, it's been an incredible increase of quality to the food that we're eating just by that simple practice of going shaking our ranchers' hands and deciding consciously to buy locally instead of from Whole Foods.
And that's not to say that we don't go to Whole Foods or grocery stores, but I think 60% of what we buy is local, which is a far bigger percentage than what it was two or three years ago.
Yeah, it's cool how the sort of like the networks started built, like the internet allowed us to build networks of information and connections online. And that allowed us to learn a whole bunch of new things and share all that together. And that is now sort of like re self replicating into real life as what we have learned as a collective is changing the way that we all live in the real world as a community.
and those types of connections are now reforming where like people are then being incentivized to
you know form companies that tie people together that like support local businesses that
like that's so bullish in my opinion on humanity um because like i mean to kind of like harken
back to something we were talking about earlier the food stuff like the poison in our food and
the big the health care conglomerate connections to the food and big agriculture poisons that is
one of the like uh i struggle so hard not to just believe that that is literally a like evil demonic
conspiracy theory like like the amount of sort of interplay between our sick care system and our
food systems is just inherently evil shit and it's so unbelievable that it would just sort of
like happen by chance that way without like some form of literal collusion between the industries
and i think it is perfectly like plausible that it's just profit greed and corruption just
like cycling over the decades but man it's this dark no it really is i mean i think
i think they're trying i mean they're obviously some parts of this broader faction are trying
to control food because again whether it's esg with the focus on energy systems and ushering in
less reliable energy systems so that people are more dependent on the state or food systems like
food health is wealth and you know what you eat literally affects how clearly clearly you can
think um and i am a believer that there's a concerted effort to completely poison people
with the food and you're just looking at there's four major slaughterhouses here in the u.s
you look at the high fructose corn syrup that's in everything the seed oils that are in everything
and what they're doing to people's bodies and you can see it in the obesity stats and the
heart disease stats like there's an obvious corruption of the food system that is literally
killing people i mean it's like you can just point to each ingredient and like look at its
side effects and look at how many people are eating that ingredient and you can directly
translate that into like x number of billions of dollars in the medications that cure that thing
and the problem i i mean i'm kind of just putting that this in together in my mind right now but
if you have a healthcare system that is based on the model of a publicly traded company,
as in all of our big healthcares, it's all publicly traded. Pharmaceutical companies,
hospital conglomerates, all of that being publicly traded is inherently building it on the model of
the line has to go up every year. But the fundamental principle of healthcare sciences
is that the line is supposed to be going down every year.
We're supposed to be getting healthier every year
as scientific technology expands our health
and not just our healthcare, but our health span.
And so inherently, if we have a good medical system,
there should be less and less profit
in the healthcare industry every single year
because there's not as much need for it.
And so there's just this fundamental mismatching
of the way that healthcare is incentivized
versus the actual goal of a healthcare in the first place.
And you're never going to wind up having
a apparatus designed to make profit
that profits off of curing sickness.
That will never lead to having less sickness.
Like, obviously.
No, it's the fiat standard.
take is this financial system driven by quarterly financials that are attempting to produce cash
flows and EBITDA that leads to stock value appreciation that outpaces inflation is all
driven. What is their benchmark? It's inflation and they're printing money. And if you are
deemed to be a successful company that helps people preserve or hopefully increase their
purchasing power, you're basically racing against the basement of the currency.
And like, just what we have to do is flip it.
It's like, all right,
what if we lived in a world with sound money where your money gained in
purchasing power and you weren't really racing inflation to produce these
results, which is creating a perverse incentive system,
which is incentivizing you to create lifelong patients instead of healthy
people.
How could that change?
And it's all, even like the food, like that goes back to the money too.
like it's not a coincidence that we were ripped off the gold standard officially in 1971 and then
the food pyramid came out not too long after and the idea there is that again going back to what
i said earlier people really begin to react when the lower layers of maslow's hierarchy of needs
get attacked and so food prices going up needs to be averted at all costs and so you launched a food
pyramid and you just create these cheap substitutes that you tell people are healthy and so they go
and they start eating that and their grocery bill is cheaper
because the good stuff that is harder to produce
because you have a shitty currency that's more expensive,
if you tell them the cheap substitutes are better,
they're going to feel like they're saving money at the grocery store.
But over the course of 50 years, it's made people woefully unhealthy.
And it's a terrible decision too because on the back end,
you described this earlier,
like the healthcare cost of treating all these unhealthy people,
um you sort of created another massive problem that's gonna be which is our tax dollars right
yeah like health care is by far the biggest expense a lot of people try to like act like
the american federal budget is mostly military spending but it's not health care is way is by
far the biggest expenditure on the american budget and and so that's like all of us paying
this medical industry the big pharma to like basically like a lot of what they do is actually
sort of like we pay for the i mean fauci is a good example fauci's playbook throughout his
whole career is to use taxpayer government money to do all of the expensive research and development
of new drugs that may or may not work because that's the part that a company wouldn't want to
pay for is the part that's like i don't know it's like experiments who knows it's gonna work
they get all that done on taxpayer dime then they hand the patents off to a pharmaceutical company
once the drug is ready to get made they keep they get a kickback now because they've now got patent
rights over these products that they created with our taxpayer dollars and then the pharmaceutical
company just goes ham on the drug produces it having skipped all that overhead and then they
just make a shitload of money giving us the drug that we funded ourselves and they inflate the
prices on it it's like it's like such a uh i think that a lot of people kind of ask like how did we
get here like how the fuck did we get to this much corruption and it and it there's i see it
as sort of two sides to that answer is in like yeah there's the frog in the water getting slowly
cooked like the fire slowly heats up the water and you boil so you never really realize you're
getting cooked from our perspective but i think a lot of people don't necessarily flip the script
and think of it from the other like these evil motherfuckers perspective of like it's not like
they had a full playbook from the start and they've been orchestrating the same exact plan
since like day one but rather that they're learning as they go too like they're playing
this game and as new technologies come out they realize how they can use that they make mistakes
they adjust and i mean the food pyramid and the way that food has evolved is a good example where
it's like after world war ii there's all this industry producing these things that are not like
not there's no market for them anymore and a lot of those things that were
made for the war industry then got repurposed into the fucking food industry um and then that
gives rise to a bunch of like let's say questionable health outcomes and then the
medical industry is like oh that's pretty profitable how can we incentivize more of
that and so over time the system has evolved out of sort of like us getting slowly cooked and them
realizing learning how to slow cook so to speak yeah no show me the incentives and i'll show you
the outcome you can apply this to anything you get like education right like the when obama came
out and said hey millennials you've been told your whole life you got to go to college get your
degree and so we're gonna we're gonna we're gonna subsidize that income get federal loans we're not
gonna ask any questions then university sees that as like oh the government's just gonna give these
kids all the money that they need to come to our university so we're gonna jack up our prices and
that's why we've seen tuition costs go up by obscene amounts over the last two decades and
and quality go down too because like yeah who cares oh you you increase your inflation you
create this whole middle management layer within universities the administrators take over and
completely corrupt the the curriculum and and again like perverse incentives like since you're
going to get all this money now you're incentivized to um essentially show high school students like
we're a really good university so you have great inflation it's like oh the average student here
gets like a 3.5 to a 4.0 like we only have the smartest people and really in reality they're
just dumbing down everybody making it easier and not even making it easier just throwing in bell
curves that inflate everybody's grade yeah actually you made me kind of think of when you
said when you talked about incentives here i i've been kind of keying into this thing about
bitcoiners as people for a little while now um and you totally fit this pattern too is like
bitcoiners tend to have this like really like chill vibe like a vibe of like not being in a
hurry to get anywhere so to speak and obviously i'm generalizing but like a lot of times i'll meet
meet bitcoiners and there's just this air of like not the rat race about it and and i hadn't quite
put two and two together before to realize that like everyone that operates from a fiat based
worldview is inherently incentivized by inflation even if they don't understand inflation they're
just incentivized by the inflationary nature of fiat based life to always be needing to like get
the next thing done always i gotta go to work i gotta make my money i gotta pay my bills because
you're like every piece of our understanding of society has been built on this mindset that comes
out of like if you don't go fast enough and hard enough it's all going to get away from you because
the inflation is inherent to the system but the moment you flip to a sound money where it's
actually the opposite it's almost like the the more you chill out and trust the system and invest
the better it is like the more the more abundance you have you just inherently wind up with this
like different i'm saying like what i'm saying is that i'm starting to observe it in people that
truly understand bitcoin almost everyone that i meet is just inherently like not stressed and
not in a rush because the longer i wait the better everything gets preference the power of low time
preference and it's funny that guy it took me uh took me a while not a while but like it when that
concept of low time preference is like sitting waiting and staying humble and stacking sats is
one of the phrases that bitcoiners use um once you see it once you've been around for a cycle
or two like you can see it like literally in your net worth and the bitcoin that you saved if you've
had the luxury of or had the ability on say luxury and everybody's had access to bitcoin for well
over a decade now if you've had the ability to save in bitcoin um you've seen the products of
sitting and waiting paying out and massively towards your benefit and yeah i think that's
that's a key thing that people really need to recognize who are stuck on the hamster wheel is
like your time preference is artificially um geared towards high time preference like you
you have to go out there and rush and try to make as much money as possible because you're saving in
a currency that's being debased at an increasing rate yeah it's uh i mean there's a whole other
incentive scheme too to saving something like bitcoin where you realize that it's not just
that you're stacking sats it's that you're also learning to be conservative with your sats because
you know that in the future they will be worth more than they are today and so there's almost
this like reverse incentive scheme of like like yeah i can use them as a currency right now too
but like maybe i don't need like do i really need that thing like do i really need all this
bullshit that's in my life or would i rather keep the stack as tall as it is um because that's not
we're not necessarily incentivized in that same way with dollars at all like your dollars aren't
going up like yeah people are incentivized to save just from the intellectual reasons why you should
save but the moment that you're saving in a currency like bitcoin there's this whole other
like mental awareness of conservation and like less is more like you know what i mean it's like
suddenly you're very motivated to save and to just chill out and not consume so much
not only that it drives a again a large sense of optimism in my life because you just play it
forward like all right if this low time preference sit and wait has worked for me individual
individually if you play that out and you think about a town adopting bitcoin a nation adopting
bitcoin the world adopting bitcoin like it has the like profound effects on how society coordinates
and actually makes decisions and fixes again i think everything is incentive driven whether
it's the corruption that exists uh at the highest levels of the power structure or individually um
like trying to pay your bills and build a family whatever it may be incentives run every decision
made at every level and bitcoin i just think fixes the incentive system and forces people to think
like you just mentioned like you think about all the money that's been printed
and thrown at a bunch of bullshit and education health care food war whatever it may be like if
you can't print money at will to fund all those things they're not going to be funded like if you
have a hard currency that's extremely scarce people have to begin to weigh the consequences
of opportunity costs like if i spend my bitcoin on this and it actually doesn't produce value
for people at the end of the day there's a good chance i don't get that bitcoin back
and so you're forced to really allocate towards things that are actually going to increase
productivity and quality of life at the end of the day you kind of just put something together
of my mind too the more you're talking about incentives and how like that sort of inherent
optimism when you look forwards at what will inevitably result of the sort of decentralized
incentive scheme of bitcoin um the sound incentive scheme of bitcoin and when i juxtapose when i
transpose that to the decentralized media that we are talking about a lot here and like the way that
that our information space is opening up that is a similar like inherent restructuring of incentive
schemes because a lot of people are always asking me like how are we gonna like overcome like the
banking cabal how are we gonna like stop the war like all these like kind of political and
information questions and it's like yeah maybe there's some easy quick answers but the real
answers is like you have to change it long term by changing our like cultural incentive schemes
by changing the way that we all choose to interact and choose to engage and like in a similar way
when you decentralize the media everyone's incentive scheme incentives are different like
don lemon tries to come to on x and do the same old mainstream media bullshit and suddenly no
one's paying attention because it's like we don't care what you have to say because we have a whole
new like the world is decentralized here and obviously there's growing pains and there's
there's there's a lot of complexity involved in the transition from centralized to decentralized
systems but when i look at it in the money system and what you're describing about bitcoin there
when i look at it in the media space and what it's doing there it's like i i just i feel like
it's this sort of like concurrent revolution across all of our spaces where we're technology
is allowing us to decentralize all the main systems we we use and i think it's inherently
bullish in every direction yeah well you ready to go further down this rapid hole yeah let's go dude
what are your uh what's your knowledge about the intersection of these two spaces like are you
aware of podcasting 2.0 or new communication a little like noster type of things yeah
minorly um i would love to learn more well i mean so i'm sure you've heard like the web 3.0
meme and crypto like theory i'm like oh you can tokenize your soul or whatever and
monetize like trigger on token i think the uh the idea of web 3.0 makes a lot of sense but
the implementation that many crypto projects have um brought to the market is completely wrong
I think really what we need to do is combine open content distribution protocols with Bitcoin, essentially.
And we're beginning to see that manifest in multiple ways.
And I think the two most popular would be Podcasting 2.0, which Adam Curry, the podfather, the inventor of podcasting.
he's a bitcoiner and he's been working with a movement of open source developers to implement
integrate excuse me bitcoin into rss and so when i send this podcast out
to uh when i publish this it'll go out via rss and in my rss feed i have a bitcoin address and
now there are podcasting apps that are popping up with bitcoin wallets and people who are listening
can send me bitcoin if they like a particular episode and so there you have this meritocratic
signal in terms of filtering out good content versus bad if people are parting ways with their
bitcoin to signal that they'd like the particular episode the cream sort of rises to the top because
you know the incentives aren't likes or retweets it's like i'm giving you bitcoin because i got
value out of the content you put out there and so you have this literal monetary signal going out to
the the rest of the market and then similarly on noster which is an open source communications
protocol that's decentralized as well they've done the same thing where you can put a bitcoin
address in your profile and as you post on noster people can signal with bitcoin about the quality
of the content that you're putting out there and so you have open content distribution in rss
and noster combining with open source money to create like a new way to have the cream rise to
to the top in terms of like content that people are getting value out of
dude yeah i mean it makes so much sense and i've been while you're describing it i've been trying
to in my brain sort of like figure out what's the difference between that when you're using
bitcoin versus that when you're using dollars um and i think what i'm arriving at is that
the bitcoin world is like a sandbox where there's only this much sand in it and the grains of sand
we've got are all the sand we're going to get. And so what we're doing there is we're sort of like
pushing little piles of sand around to vote on the cultural landscape that we think is valuable,
right? To vote on the ideas we think is valuable, the companies we think are valuable, but it's
never going to leave the sandbox. And there's never going to be a whole bunch of new sand
dumped into the sandbox. And that creates a really different like just background incentive
scheme for why and how you you know promote someone give them some sats and like kind of
push that sand around to show out to like vote for what our world should and does look like
whereas when it's dollars you're like sort of inherently giving away a thing that we all sort
of think of as like it's going to disappear because it will it'll inflate away to nothing
but also like it'll leave your hands and go to a place where it's never coming back from like some
bank account of some billionaire that is kind of causing the inflation in the first place
like dollars inherently all flow upwards into dark corners that they will never leave and like
some circulate for a while like some go back and forth between regular people for a while but
inevitably like the the thing causing inflation is all these like dark bank accounts at the top
that are just collecting all of our inflated shit and and so in a way it's like it's never coming
back it's like having like it's like sandbox leaking out the bottom all the time and everyone's
always bringing in new buckets and that's inherently not as fun of like a creative space
to sort of like build build piles in and sort of like push things around because it's all just
falling out the bottom all the time no and that's that's only one aspect of it the other aspect too
is like if you're out there producing content that people don't like they just simply cut off your
access to those fiat rails so we've seen this throughout i mean i've had it happen to me on
youtube uh during covid we got demonetized oh yeah like two or three times and we've seen it
wikileaks we've seen it with alex jones and many other content creators out there and that's the
beauty of this implementation as well is that it's an open source peer-to-peer protocol so i put my
address yeah i'll put my address in my rss feed and i control it there's nobody who can say you
can't send money to this address because we don't like what he's saying like nope um there's nobody
between me and the listeners sending us bitcoin which is a whole nother like incentive driver
in terms of getting good information out there
because you can't be censored by the payment rails.
And if you choose to create,
if you choose to build a platform in a way
that the more payments receives
is like the boost that the algorithm gets,
like the popularity is tied
to how much people are valuing it,
there's no censorship that can be applied to that
because it's an open source blockchain vote for the content.
And so it's not like you can de-boost it.
you can't shadow ban it it's just it the number is what it is and it's on the blockchain and so
you make good shit and good shit spreads that's really interesting yeah that's the uh i think
we're at the the precipice of people beginning to wake up to this and i think it's going to be
accelerated particularly in election year that's what's i think yeah that's what's gonna happen
that's why i've built everything that we built here at tftc from like inside out like as robust
as possible with bitcoin at the core um we do um we do fund a lot of what we do here via
advertisements we try to partner with companies in the bitcoin space that we trust and we use
and that we think other people should be using um but we when we send our invoices out you can
pay in fiat but we also have the ability to pay in bitcoin putting a bitcoin address in the rss feed
and then putting stuff on noster that can be monetized there like we want to make sure that
we have this uncensorable decentralized rail to receive money in case we say something at
some point down the line where stripe or our corporate bank account gets taken down um yeah
i'm kind of ashamed i haven't done this yet actually this is definitely going on my list
for this week it's still very it's still very early but i think every content particularly
those of us who are i think you especially are pushing the edge of of what is wrong think um
should have a fallback option yeah we're we're putting that's no it's going on the screen here
yeah my buddy my buddy ben wehrman has been has been poking me to get on noster for a while
and that's gonna happen have you um have you emailed or not emailed have you interviewed
nicole shanahan by chance rfk juniors vp i have not no you really should dude she's a bitcoiner
and her partner is jacob i forget his last name um that who is in charge of lightning labs for a
long time and they are so so like rfk juniors whole campaign is very pro crypto and they've
got a lot of like awareness and progressive takes on it but like i i interviewed nicole shanahan a
week ago or so and got into it a little bit with her and it is there it was immediately apparent
that her knowledge vastly outpaced mine
and that she has a ton of really interesting takes
on Bitcoin and has been in it for years
and years and years and years and years
from like a legal standpoint and all that.
It was like, it was a really interesting conversation
and I did not even have the technicals
to follow her halfway down the places
that she could have gone.
I think you'd really enjoy talking to her.
I mean, probably Bobby too, but.
Yeah, I've done a Twitter spaces with Bobby before
with a bunch of other Bitcoiners
probably about a year ago now at this point.
but yeah not talking to cole and no i think that's why i've been like beating this drum for
seven years now it's actually the newsletter i started that predated this podcast will turn
seven this week and uh it is uh it's so obvious to me again going back to the incentives the
monetary incentives the injecting that monetary tool into content to to monetize directly like
it changes the incentives of content creation i've worked a lot in the mining space and so i've
learned more about energy systems the last six years than i ever thought i would in my life and
you really understand the connection of the digital world the bitcoin blockchain and sending
transactions digitally and the physical world of the energy it takes to actually add blocks of
transactions to the network and the symbiotic relationship that bitcoin mining brings to
energy systems it's extremely positive um and it's what extremely misunderstood by the mainstream i
think it's intentionally obfuscated and yes mispainted right i mean i think i think that
centralized powers realized way too little way too late how big of an issue bitcoin was for them
and i think satoshi and the various players in the early days of bitcoin i think that they
very wisely built fast enough and quietly enough for long enough that like by the time that the
centralized powers realized what they had on their hands they already weren't able to stop it like
satoshi's satoshi's don't kick the hornet's net nest uh comment is very prescient and you can tell
he or the group of people that made up satoshi whatever it was um thought really hard and
critically about these problems and that's the other beauty of it too incentives like i think
that's one of the great things that bitcoin does is it holds up a mirror to the power structure
and really puts them in this predicament um because they're like we want to be environmentally
friendly we want uh we want like equal access equal opportunity for people we want to fix
um the wealth gap and help people in the lower stratum of the economic ladder to to build
themselves up and bitcoin literally enables all this so if you're pushing esg and you really care
about stewarding the environment it's like well bitcoin mining makes sure that we're as efficient
as possible with our energy systems whether that's mitigating flare gas and oil and gas fields or
making sure that grid systems are robust and have enough revenue to reinvest in themselves
like you can't you can't deny the bitcoins and that positive there and then if you really care
about social inequality and wealth inequality well like bitcoin gives any individual who so
chooses to preserve their purchasing power in a hard money and historically that has worked out
very well for the people that did so you're trying to say it's bad and you want to solve these
problems like and that's why again i'm incredibly optimistic and people get caught up in the 24
hour news cycle and get very black pilled but it's like if you take a step back it's it's happening
bitcoin's 1.5 trillion dollar market cap now nobody thought it would be this large
five years ago let alone 10 15 years ago oh it's gonna get a lot bigger too
yeah a lot bigger and i don't think people recognize how quickly it's happened like it's
15 years is not a long time no and i think that a lot of people think they don't realize how early
on in the in the progress we still are it's like i think a lot of people have this bias towards
thinking that like what the mountain we see below us is inherently probably the whole mountain when
it's like no like it's very likely when you look at the bigger picture that actually we are still
very much in the first chapter very much still early adoption like there is a lot of mountain
ahead of us um it's it's wild yeah i mean yeah think about how many companies and business like
and people and governments have not adopted it yet no and that that's the thing too i think
we're particularly at a point in time where the career risk for people particularly working in
corporations and institutions it's flipping where for the first 15 years people have been able to
look at bitcoin and say it's too risky uh i don't want to get involved um i'm not gonna put my
clients money at risk here and i think we're at the point now where if we have another one of
these cycles and people have not adopted bitcoin into their corporate treasury strategy or enabled
individual investors whose money they're stewarding to get access to bitcoin people
are gonna be like you're fired like you literally missed out on like the best the best returning
asset in human history um that's gonna be overlaid well there's probably more bank failures on the
way like there's more fiat financial turmoil on the way did you see the the most recent fdic report
yeah yeah but 137 3 f i forget my numbers here of how many trillions of unrealized 512 i believe
17 yeah 517 trillion of unrealized losses which to be fair like it got reported as though like
so like half a trillion right yes 517 billion thank you and it got reported as though it was
like it came out of nowhere and it just dropped it's like to be fair the amount of unrealized
losses in the banking system has been about that high for quite some time now um but that stress
is weighing heavily yeah and as jerome powell keeps these rates higher for longer it's only
going to the stress is only going to get much more intense from here and you're beginning to
see cracks you're beginning to see realized losses i'm not sure if you saw but deutsche bank
sold an office building they bought in manhattan uh this week i think they bought in 2014 for
550 million uh and sold it for i think at 60 below that i think it's like 130
or that would be more than 60 percent um they took like a 60 to 80 percent loss on that and
that's a realized loss yeah and you know the vast majority are still unrealized and some of them
are probably even unreported because there's so much self-reporting in the system there's so much
uh manipulation of balance sheets to make you know very the various leverage positions everyone's
holding kind of hold their water i mean i i mean i'm a little biased because i come from the
gamestop community and so i i've done a lot of digging into sort of like how much uh risky
betting is happening in the markets in various ways how much sort of like swaps are being used
to kind of hide positions so that collateral looks bigger than it is and leverage looks more
managed than it is but i mean it's man it just takes like one one flick to knock the wrong dude
over like how archegos blew up and then credit suites blew up and then it's like quickly like
put a plug in it i mean like yes yeah they were asking for i don't i forget how much money but
they were needing a bailout from the government like two or three months ago so yeah and i'm not
sure if you caught this but um the fed in a sly roundabout way and the treasury really papered
over that unrealized losses problem by taking treasuries out of the reserve ratio a couple
months ago and so like the ptfp program was ending in march and people thought they were
going to extend it but instead of extended it they're like hey we're staying true to our word
renting the ptfp program and then slightly behind the scenes you're like all right you don't need
treasuries to count your reserve ratio anymore you can buy as many as you want and we won't care
they it's a recurring strategy where they just you know create a new loophole find a new way
like you know change the reporting change the way you report inflation um and it's cool now to like
have gone from a place where i was basically just max ignorant maxi to being like involved in
communities and all the different niches of like thought where i'm like no expert at anything but
like in in my financial network of homies that are doing this digging in the financial space
like there's so much digging into the publicly available information to expose those loopholes
and to get that information out to people like me to help get that information out to other people
around it's like it's so cool that they can't hide that shit anymore yeah and that's and to
that point too that's something that and the strategy of this show specifically over the last
three years i would say is really like in the first four years of the podcast we're really
bitcoin focused bitcoin developers bitcoin uh ceos of companies in the bitcoin space talking about
bitcoin specific news but i think three years ago particularly during covet it was like all right
like i think everybody in bitcoin has heard all this like we need to go get people like
who are in these tangential sort of niches these verticals and we need to begin cross-pollinating
these ideas because i think disparately we're all putting this together i think we were to combine
let's say combine forces but information share like hey is everything bitcoin like game like
gamestop was like a big thing as gamestop was going down everybody in bitcoin was like
we get what you're doing philosophically we agree with you philosophically but
the answer is not to try to destroy the system within the system by squeezing the shorts it's
like they're gonna fucking manipulate the system no matter what happens they get to work outside
and that's what i think a lot of bitcoiners when game stop we're going down um we're like guys
this is great but that's not the solution over here and i think this time i mean it created a
lot of bitcoiners too as they saw how broken the system was a lot of game stop people started to
learn about crypto oh my god you turn the buy button off it's like uh you have you have the
black thing and that's that actually a lot of gamblers are in bitcoin because of black friday
in the poker world i think same thing happened they just turned off the withdrawal money button
they're like what the hell just happened i mean i agree with what you're saying about how like
i think a lot of people are starting to realize that we have a lot more in common like among our
different niches and across our different verticals than we might have at first thought
and the more that these spaces are maybe i just see it more because i'm kind of a cross pollinator
and in the nature of my content but it's so cool to start to like like share audiences and and sort
of like cross ideas over where like like a lot of us are on i mean i i think maybe a lot of it is
sort of like not necessarily libertarian is kind of a charged word but like liberty like popular
people focused initiatives and and solutions to problems that we all share um that is like
universal across so many different spaces right now um and so it's cool to sort of like get
everyone talking together and learning from each other because you can't be an expert at everything
you can't know everything but there is someone somewhere that is an expert on everything and
knows just about everything yeah and this is this is what gives me hope and it feels like
Like, again, going back to COVID, maybe the most massive inflection point of my life.
A hundred percent, yeah.
I lived through 9-11, great financial crisis, but I don't know what it was about COVID.
Maybe it was a culmination of the last 20 years with going all the way back to 9-11,
rolling that into the great financial crisis, rolling that into COVID.
I think for me, a millennial in my early 30s, like I was very aware of each event as it was happening.
And you have the compounding effect of all those.
And then finally, COVID being the cherry on top.
It's like, all right, this is completely insane.
Like we need to begin seeking alternatives.
And over the last three years post-COVID, you had people running in their own siloed verticals, GameStop.
People focused on bodily autonomy and fighting the vaccine.
and bitcoiners um as well and now everybody's sort of coming out of the whole their own vertical
like looking up and seeing like oh they're like oh these guys are onto something too and maybe
we're at like in a transitionary period it's like all right we've all gone and done our homework
about these verticals that we know very well uh we know we know a lot about now let's let's get up
and try to work together to solve these problems outside of the system which i think is possible
and i think that's another thing i say a lot on this show is like we're gonna win um and it's like
to instill confidence in people so many people have been dejected like this is a daunting these
are daunting problems to try to solve the power structure is too powerful but it's not the case
at all you can actually do this if you put some effort behind it and work smartly yeah i mean
they are daunting but like we got this and you know when you put all of our like when you put
hundreds of thousands even millions of brilliant people together into like a connected network of
of free thinking forwards moving like that's like we can solve some daunting problems and we already
are in half um and i think that what you're saying about code being like the inflection point is
spot on because every one of those other issues or like events was massive and did change everything
but it didn't like covid affected regular people in a tyrannical way en masse around the entire
world and so everyone of every sort came out of that with a shared experience of like the
regardless of how much you bought it or not it's like there was still a shared experience of sort
of like awareness of the corruption above us and awareness of like the separation of the classes
and it not being well some people are still trapped in the left and right but like a lot
of people woke up to that it's actually top and bottom and that's where i think all these
verticals are starting to blend where it's like yeah we're all down here together and i think we
need our own solutions and then we're looking around it's like oh shit you've already got a
solution to that big part like oh fuck this guy's got a solution to that part and it's it's it's a
really fun time right now it's a little stressful but it's super fun it's stressful and again like
said earlier like you have to be aware of these problems and they are daunting but you have to
like that i think the world needs more optimism too um because i think that's a self-perpetuating
feedback loop too it's like again instilling confidence in people once people are confident
they recognize there's alternatives they begin using those alternatives and building on them
then that gives them more confidence and it's like oh we may actually be able to do this and
i think that is what the power structure fears the most isn't and funnily enough what they use
the most is fear try to scare the out of people so they don't even look into stuff
bitcoin's only for drug dealers and um and terrorists like stay away from that it's
destroying the planet um and they're trying to scare people away from it because then
they're scared that its power is such that it could replace them
yep yeah it's uh there's nothing more powerful than in than a informed and like energetic
motivated population like yeah be optimistic people we got this we do yeah and for me i mean
people ask me that all the time like how do you stay so optimistic when you're always reporting
on this corruption and bullshit and it's kind of just like the default it's like how could you not
like there's no way forwards the more you learn about how much is wrong with the world
like there is no other way forwards than to laugh and to take it on it's like bring it on guys like
whatever like you know history is history time like the world is the world we'll take it like
we got it because if you don't if you don't look at it with optimism you're not like you have no
chance whatsoever no and that's what pisses them off the most is when i gave a presentation on
tftc and like the media company we're trying to build and the topics that we talk about in the
q a somebody asked me like are you afraid of the power structure it's like no that's what they want
like and you have to recognize that's what they want and if you allow them to make you fearful
like they win and it is big fu just being like i'm not afraid like we're going to talk about this and
we're going to do these things and not care um about the hammer coming down on us may come down
but um you can't show fear now bring it on we've you know the hammer's come down before
and we're starting to build systems and networks and you know payment strategies and such that
start to make it a little less and less relevant until eventually the hammer is not going to be
relevant at all yeah it's a beautiful time to be alive and yeah i don't want to take up too
much of your afternoon noon here i know um we threw this together somewhat last minute uh but
This was an incredible conversation.
Thank you for the work that you do.
Thank you for coming on.
Yeah, thanks, dude.
It's cool to be, not every podcast that you go on
is sort of like a process of putting new pieces together
and like arriving at new conclusions mid-podcast.
And this is a ton of fun.
I've got a lot of cool digs to do now.
Yeah, we'll have to do this again.
And yeah, if you have any questions about Bitcoin Nost
or whatever it may be, feel free to hit me up.
And as you can tell, very passionate and committed to this.
so hell yeah brother appreciate it man all right and i will talk to you again soon all right peace
and love freaks
