The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - The CBP #188 (Notable News Stories) - America Votes, MSTR's $42B Raise, Fourth Turnings (Bitcoin Podcast)

Episode Date: November 5, 2024

FRIENDS AND ENEMIES Join us for some QUALITY Bitcoin and economics talk, with a Canadian focus, every Monday at 7 PM EST. From a couple of Canucks who like to talk about how Bitcoin will impact Canada. As always, none of the info is financial advice. Website: ⁠www.CanadianBitcoiners.com ⁠Discord:   / discord   A part of the CBP Media Network: ⁠www.twitter.com/CBPMediaNetwork This show is sponsored by: easyDNS - ⁠⁠www.easydns.com⁠⁠ EasyDNS is the best spot for Anycast DNS, domain name registrations, web and email services. They are fast, reliable and privacy focused. You can even pay for your services with Bitcoin! Apply coupon code 'CBPMEDIA' for 50% off initial purchase Bull Bitcoin - ⁠⁠https://mission.bullbitcoin.com/cbp⁠⁠ The CBP recommends Bull Bitcoin for all your BTC needs. There's never been a quicker, simpler, way to acquire Bitcoin. Use the link above for $20 bones, and take advantage of all Bull Bitcoin has to offer. D-Central Technologies - https://d-central.tech/ Your home for all things mining! Whether you need a new unit, a unit repaired, some support with software, or you want to start your own wife-friendly home mining operation, the guys at D-Central Tech are ready to help. With industry leading knowledge and expertise, let the D-Central team help you get started mining the hardest money on Earth.

We lost a good one, Len. We did. We did. We did. R.I.P. Thank you, ABC212. Yeah. friends and enemies thank you for uh indulging us that moment of silence for a true og gone too soon peanut rest in peace my brother may you get that nut in the heaven above my name is joey that's len

big week this week what do you think a couple things going on yeah i don't know what the fuck's going on but whatever it is strap yourself enjoy because the next 48 hours actually maybe a little longer than that um it's gonna be nuts there's no way we're gonna know this in 24 a little bit over 24 i suspect probably not 48 it's gonna be nuts there's no way we're gonna know this in 24 a little bit over 24 i suspect probably not 48 there's gonna be some delays you know the way really i'm just going based off history like this shit tends to take a little bit longer than what it should you know the country like united states with all the resources that it has at its disposal should be able to resolve an election like that yeah right like

you go in you cast your ballot and you go home el salvador does it really quick well then as we know they're cheating so that's why that's why the election's not done the first night the only reason the election is ever not done the first night is because of cheating and anyone who doesn't understand that enjoy life with a helmet on. Let's talk about the sponsors, then we'll get into a bunch of stuff here tonight. First of all, EasyDNS, best place for you to buy,

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Sorry, I'm still trying to gather my thoughts for what happened with the execution of those two little furry shaking anyways yeah i know focus focus bull bitcoin bull bitcoin a great place to buy and sell your bitcoin the price hey 67 000 so maybe it's a good time to buy considering we were over 70 000 just a little while ago. But either way, you could buy on-chain, you could buy through Lightning. I just checked my node and two sats for V-Byte. On-chain is the way to go.

That's the last block that was mined by Bitcoin 100%, Joey. Because if you do that, it's the way to go, and you can learn how to use cold storage and hold nine yards, but also learn how to do cold storage and whole nine yards but also learn how to do lightning purchases and lightning sales because eventually there's going to come a point in time where fees are going to go very very high and you want to learn and you want to know how to do that but bull bitcoin has you covered they'll help you sell and help you buy using lightning as well you can buy gift cards with them which is one way you can start spending the

bitcoin and spend it in the real world that That's a really cool thing to do. So if you want to go to, say, Home Depot or to Starbucks or whatever, get that Grande Venti or whatever they got at Starbucks. I have no idea. You could do that sort of with your Bitcoin by buying those gift cards. But also you could spend your Bitcoin in other ways by paying bills. Look, everybody's got bills to pay. Nobody's got around this. If you have, let me know,

because then you basically solve the secret of life. But for people like me and you, Joey, that have to pay bills on a monthly basis. Schmucks like us, yeah. We are schmucks. Well, one thing you can do is you can use bull Bitcoin to help facilitate pay those bills with your Bitcoin. Look, you bought Bitcoin a long time ago

when it was 10, 15, 20,000, 30,000, whatever it is. Now it's 67. Why not start spending it? And how? You can start spending it by paying some of the bills that you have accumulated. Maybe you've been negligent of paying them because you've been stacking too hard in the past little while. Whatever it is, they got you covered. Check them out.

Open an account if you haven't done so. Use our promo code and $21 will be added to your account after you provide all the necessary information and fund your account. You'll love to see it. Third sponsor, Decentral Technologies. Len shared with me before we went live that Jonathan sent him a picture of the CBP Bed Axe.

Can we share it? Do you have it? Yeah. See if you can put it up on the screen. If you haven't ordered one yet, there might be a few left. I have no idea. They're coming. And they are hot shit, let me tell you. Among other things, you can get CBP Bid Axe. You can get a different kind of Bid Axe, branded, unbranded, a number of different setups, a number of different configurations.

You want to heat your home? No problem. John's got you. You want to mine in your garage? No problem. John's got you. That is so sick. So that's one?

I don't know what else can we do um you want to the back of it stuff no problem that's great very nice very nice yeah very cool stuff all right get off the screen uh the um best in class best in silo sponsor just like the other two uh you want to mine in a way that upsets your wife no problem you want to wait mine in a way that will let your infant child remain asleep he's got your back there anything you need any repairs you just want some support some help with stuff man they sell all sorts of interesting things related to mining and i think that a year ago we would have said this was trinket kind of stuff now at least on this program we are pro decentralization

of mining we are pro the proliferation of home mining we are pro getting this stuff into the hands of the plebs so head over no promo code tell them we sent you. Buy some mining stuff, man. Get your hash on, get the hash rate up, and let's get the mining decentralization going. Get it out of the hands of the huts and riots and marathons and into the hands of the CBP faithful here. They're getting to be awfully large. I'm not sure if you've been following them, but like marathons,

it's about 40x the hash per second. Riot just keeps getting bigger. Clean Spark picked up grid last week there oh geez man yeah so it's not the old battle we gotta keep fighting we gotta keep fighting yeah it's it's a decentralized network anybody could join and leave whenever they want but it's a good thing if we do that as plebs we each do our part totally totally all right want to do some boosts we ought Totally. All right. Want to do some boosts? We ought to. Yeah. All right.

Still trying to gather my thoughts. Some guy named user 301 and a bunch of numbers. I wish I could give you proper credit by naming your specific name, but either way, 210 sats. He says, great show. Please interview libertarian economist,

Matt Zwolinski on Hayac's support for ubi huh what's the name is the name there matt zwolinski i mean i'm i'm down for that i i'll talk to anybody and uh yeah happy to uh get him on if someone wants to message him on twitter one of you guys watching or listening and uh tell them to hit me up or i'll try and find him but it has to wait a little while because you're going to be that stock coming out of my nose and 4k. That was really something. What else we got on the boost?

I used to show I'm going to go to tangent here used to show my wife the pictures of slow motion sneezing. She hated to see that on you see the lips flapping and everything. I love it. Anyways, wartime three different submissions of 333 sats for $999. One is a heart.

One is a happy face with a couple of beer mugs doing cheers. Yeah. And a third one he writes in, going hard into paint, and he starts laughing. Nice. Waka flaka. I love me some old waka flaka. So I wanted to give him credit.

He did it three different times. I appreciate that. Great. Love it. Love it. Peavine Ridge Farms 1000 sats man inherited tax is evil. Yeah, the higher the tax, the more family farms are destroyed. That'll be all owned by mega corporations or the state depending on how communist things get so this is a in reference to i think something ben is that a ben rabidu

episode boost yes so ben at the end of the show uh did say that he was a fan of the inheritance tax and you know i am a huge huge huge naysayer when it comes to that kind of thing because i think you know families who make good decisions for generations and generations and enjoy the compounding benefits of those decisions, that's the kind of family you want to encourage in your society. Whether that family's got $10 million, $1 million, $100,000, whatever dollars, taxing inheritances discourages that sort of behavior. Instead, instead encourages consumption spending and, in my opinion, other frivolous behaviors.

Those are not Ben's opinions, but they are mine. Inheritance taxes, like many other things, will always start at the high end and creep down either because of pressures from beneath the visa via inflation or pressures from above visa via the government and the taxman and the demands of people who have less. So I could not disagree more with Ben on that. I'm glad that we have a comment there from Peavine Ridge. It doesn't make a lot of sense to me to do taxes that way because you're still taxing good decision-making. You're disincentivizing behavior that you should want to incentivize in your society. That behavior is not necessarily the amassing of wealth, right?

That's what proponents of that tax would say. The behavior is actually generational thinking. That's what the behavior that's being disincentivized is. And people need to realize that, I think. Well, I have not gone through this process before, so I don't know. I just learned right now that there's no inheritance tax in Canada, at least from what i'm reading here there's not i'm actually shocked there's but in united states there is do you know what the percentage is in the usps i'm not sure i mean i'll pull it up right now i'm not sure either probably relies on a number of different things

there's different state to state i don't know but um like you know the the point remains though that we should never settle for oh it's only a 5% inheritance tax. Oh, it's only a 10% inheritance tax. No. No, no, no, no, no. You see this happening all over the place. Your primary residence is the next big domino to fall, I think. You're going to start to pay a tax on your primary residence at the time of sale.

Well, yeah. It's the next big one to come. The domino after that? Yeah. What is it? What's the rate? Federally, because I didn't want to go for every state. Federally, it's $13.6 million is the exemption.

Anything above that, you're going to be taxed. Anything below that, you are not. So, I mean, I'm not going to say it's good or bad. It's high, it's low. That is what it is, actually. And it's up to the court. Who values the assets? Good question.

IRS, I'm guessing. Yeah, fuck them. Yeah, fuck them. That's crazy. No one, the whole point, I've said this before. I'm going to say it again now because I'm feeling spicy yet again this week. The whole point of realizing gains before you pay taxes is that the market gets to set a value on which you are taxed.

When someone imagines what the value is before you sell, they're not willing to buy that asset off you at that price. These fucking people just want your money. They just want to crush you. They want you to have no upward mobility. They want to be able to say that they help with the tax regime. Fuck them, man.

Although Yacht doesn't get bought by itself. This shit has to get- Yeah, exactly. I know. That Ukraine fund has to fucking get... We've only been on for 14 minutes. I'm already absolutely flying. So let's go.

Keep going. North Star Weld Service, 5,000 sats. He writes in, if you noticed a slight bump in the hash rate, which it went up quite a bit, by the way, you're welcome. He plugged in his S9 recently as the season of heating has begun and his workshop benefits from 1,500 watts of heat written off as a business

expense, of course. The byproduct of KYC free sats gets sent to a wallet for future generations. Genius. I like that. Don't want to say that... Can I heat the studio? We have some tax benefits running businesses that use our house. Can I put a minor in here and claim that it's like uh you know can i is that allowed if you're heating the home with a heater like and percentage of

your electricity is tax deductibles why not why the heck not it's a good point yeah and i think once you Once you reach your threshold for what you're going to be doing for tax exempt, just run a cable from the neighbor's house. And then once they find out, go to the next neighbor. Just keep running. So anyways, this Wednesday

we are going to have Goomba come on. He's coming. Last time, for whatever reason. Time zone. His claim was that he didn't know what time zone. I was telling him Eastern every time. And even at the same day, I reminded him it's Eastern zone.

Anyways, he'll be back on Wednesday. He'll be on Wednesday, not back. First time on Wednesday. Oh, we're looking forward to that. Last week, as I mentioned during the boost, Ben Rabideau was on. Great guest. Ben's a real heavy in the real estate slash immigration

slash ongoing frictions between policy and outcome in terms of a number of different things in Canada recently. Very, very, very happy that he came on. We'd love to have him back. I think you guys will enjoy

that episode. His audio is pretty clean, like 85% clean, but he was having a bit of a connection problem where he was. All that said, still worth a listen. You guys will enjoy that quite a bit, even if you disagree with some of the things he said. Maybe you'll disagree with that. Very good. I will mention again again this is my last show cbp cbp but we're doing a access easy just of easy thursday i'll be doing it with you

and after that i'll be gone for i would guess four weeks maybe three weeks four weeks tbd i think the aoe you'll have to come on for the early one because the replacement can't play do that one show um right when is it what the thanksgiving show yeah yeah okay i'll find some time i even thought about sending in my uncle mark's in the chat right now my uncle's actually my uncle actually works in tech he's like a very you know he's much more competent by nature than i am in that uh domain but um he may not have the charisma certainly does not have the good looks um but we'll talk about that we'll figure it out anyway that's it for housekeeping i think you want to uh get rolling

here we should know we're gonna try and cut this around 8 30 since elon decided yet again he's gonna run a big space tonight so uh we're gonna head out a bit earlier than usual maybe 15 minutes or so and um yeah try and get everyone to listen to what elon has to say the night before the big day should we start with that if you want to start with the election you want to talk about that at all do you want to talk about it i don't think there's really much to say how much could we add to this who you who you got let's just do it who you got as a winner yeah i'm gonna go a slight favor trump just slight i for whatever reason i think that there kamala harris still has a fighting chance even though everything is showing no but i think there's a fighting chance that she could come out on top

one way or another interesting okay by hook or by crook huh uh give me kamala by a slight bit whoa see we're like almost on the same side. I think that she's going to win. She's going to get her state. She's going to get California. Yeah, there's no doubt about that. Florida, maybe, I'm guessing. It's a purple state these days,

right? So maybe Texas? No, unfortunately for her. There's a lot of... Go ahead. no unfortunately unfortunately for her and there's a a lot of um so i go ahead go ahead i think she's gonna get like a lot of the states that she's gonna you know washington she like that yeah so it's not gonna be anything i think anything is possible like i said in the intro there these are my words not yours there's cheating going on be a speed. I think anything is possible. Like I said in the intro there, these are my words, not yours. There's cheating going on. Anytime the election can't be completed in one night in a modern economy. If I can pick up a phone and get a dial tone, then that economy needs to be able to count the votes in one night.

And if they can't, then it's cheating. And that's all there is to it. And so I think that the left cheats better than the right. That's my personal view. I don't want to go down that. But I will want to say you heard Trump on Rogan, I would assume, right? I listened to it, yeah.

And I listened to it as well. In fact, that was one of the few episodes from Rogan I actually listened to in my life. And one thing that came out as I listened to the audio, Trump sounds old. I know he's 78-ish right now.'re okay i think they're leaning into that

i don't know if anybody's i'm just it comes off like he's obviously he's older right like when people get older their voice changes the way they speak changes and he's going through all these cares uh these characteristic changes that happen when you get older but it's just it's hitting on like man the guy is older might have a lot of energy might not have to i think that that's something the campaign is actually trying to embrace and i think the reason they're putting him on these shows at least in part is because the really only line of attack that the left has at this point is that this guy is a nazi sympathizer hitler enthusiast racist misogynist uh i don't know, xenophobe, whatever, right?

Pick your sort of word. The only way to dispel those rumors is to put him in front of a mic and have him talk for an hour, two hours, three hours in the case of Rogan. And you see pretty quickly that he's not any of those things. You may disagree with his policy positions. You may think his style may leave you wanting in terms of finesse, but broadly he's, he's a,

seems like a decent guy. He's a decent family man. At least now, you know, obviously he had some indiscretions when he was a little younger, but leaving that aside for now, you know, cast the first stone,

et cetera, et cetera. That's, I think something the campaign is trying to do to soften his image. And I think when people talk about this sort of elderly sort of lisp he's developing, it's conducive to that and that mission, if that's what they're trying to do. That's one thing. The other thing I think is even more likely is that he's weak on the woman vote, the female

vote. And I really have this feeling, no one's ever told me this, and I've not heard this anywhere else, but I really have this feeling that by going on these podcasts that are very clearly predominantly right-wing young men on the podcast, in the viewership, I should say, he's actually trying to get into the years of the girlfriends and wives of those guys over the course of a month, two months, whatever. The Nelk boys, the barstool guys, Rogan, over and over again. I think about me, right?

I walk around the house with my phone playing or I play it through the Sonos speaker or whatever, the podcast playing it while I'm doing stuff upstairs. Or if I'm making shorts for the show, I'll have'll have my phone, especially on like a Saturday morning. And my wife will hear it. And it's funny, she just asked me if I listened to Trump in the interview in full. And she said, you know, after I heard a bit of that, I went and listened to the Vance one a little bit. And he sounds even smarter. My wife would never have done that four years ago, certainly not eight years ago. And now would never have done that four years ago, certainly not eight years ago. And now she would prefer that candidate. That may be a mix of us living

together and being married. But I think that there's a real chance that part of the strategy is we have to get into the ears of this demographic. And the only way to do it is to have these conservative 20 to 35-year-old men pumping these podcasts in their house until it gets through. And you got to figure if you get through to two women out of every eight, nine, whatever, however many in the group chat with the girls, maybe you get through to one more, two more. And before you know it, you kind of have some traction there, right? I would love to hear someone from that campaign, especially if they win, tell me what the strategy was, because it's definitely not to win over guys you're already going to get to vote for you for sure. It's something else.

And I think it's that second piece. I really feel pretty good about that guess. It's free publicity, Joey. How many listens does Joe Rogan or Barstool? But the question is, in an election, how many people who are not already going to vote for you are going to listen? It's a lot of time to spend doing that stuff. And you take a lot of shit from the media.

It's one thing for them to cut up a 10-minute stump speech. There's enough of those clips out there. But to do 10 or 11 hours with three or four different shows, that's unlimited firepower for a corrupt media regime. And they're going to do it. They'll be throwing those shots in their own little universe. This is entering a different world altogether, different universes, the podcasting world.

We're dealing with a whole new set of folks that listen to it. It's he's not paying to get on. They simply ask and he obliged. And he's able then to get all these listeners that know him listen to him before but it's just more free publicity for him and he got three hours on rogan i have no idea what he got on barstool i never listened to that one did an hour or so on barstool there's one of the one the nelk boys one he did was pretty good too he did dio von that was pretty good well three hours on rogan and to just circle back to my point about him sounding old through that whole interview three hours he was coherent he was

energetic he was with it he's and you know what the best thing is too like he knows stuff about what rogan was talking about the fight stuff i mean i follow athletics but i even i didn't know some of that stuff he was i mean i didn't prepare for a Rogan interview, but still, that's pretty good, man. That's pretty good. You could tell, like, he sort of enjoys it. He doesn't have the same type of pedigree that Rogan has with knowledge, but he has some. So he's within his element. So it's not really a bad thing to go out there instead of doing an another campaign stop like michigan or

whatever just do this you know it's low energy in terms of taking away from him and in fact he had to leave early right at the very end he had to cut it short because he had to go to so he could have went for longer either way the one thing that i kind of am disappointed there was no discussion of bitcoin really on that rogan talk i wish they they sort of dived into that because rogan seems to be more learning about it talking about it and it would have been a good opportunity to discuss it but given that he said he wants to have it one of these national strategic reserves with bitcoin talk about a little bit more let's hear about i don't want to hear about world liberty financial where the fuck that thing is well i mean he's this is my big concern with Trump is that, you know,

I see a lot of people talking about how he's put a really good team around him this time. But then I think would a really good team, you know, ever launch a shit coin in the month before an election?

I don't know. Probably not. It's a bit concerning for me, I think. But I mean, broadly speaking, he's the candidate I prefer to win. And actually, I want to make a recommendation, which I don't often do on the show. But Chris Irons, friend of the show we had him on earlier this year, released a podcast today. I listened to all his stuff. I think he's a pretty good thinker, a little rough around the edges,

which I really like about him. He's at his best when he's doing a solo podcast. And he released one today on the differences between the right and the left in the American context. And I got to say, Len, I have never agreed with somebody on a podcast on basically everything they've said over the course of an hour. And I was just nodding along the entire time.

He absolutely fucking nailed it that there's just clearly one party who is in a better position to move the country in a direction that it needs to go domestically and in terms of its relationship with foreign powers and it's just not the democrats the question is will it matter you know i i that's the big question part of me says that uh if they lose if kamala wins on on the uh tomorrow night i should say i was gonna say during the election but uh if he wins tomorrow night or she wins tomorrow night the next candidate that the republicans run you're gonna be wishing you had jd vance running if you were a liberal the next guy that runs is

gonna be like extreme and it's going to be deserved. You know, whatever that, that candidate ends up having as a platform, it's going to be deserved. The Americans have gone way too far one direction here. They're lying, cheating and stealing at every turn. I mean, you're not saying this, I'll say it. Obama, who is revered as like an, you know, outstanding statesman.

He's a fucking clown. He's, he's on the podium spitting out the same fucking nonsense that's been debunked a million times about the very fine people. What a fucking loser. These people are just fucking losers on that side of the aisle. They're ugly. They're fat. They don't take care of themselves. They care about the wrong things. They want handouts. They want drugs. They want degeneracy. If you want that, go for it. But it is a mistake to go that direction if you're the states. It is a mistake for an individual to go that direction. It is a mistake for a state. It is a mistake for a nation. And it's a mistake that you have the results of already. It's not

hypothetical. Look at San Francisco. Chris said this in his podcast too. Look at San Francisco. Look at you and me. We do the Chicago segment every week. There's never a segment about Houston, Texas, or any of these really right-leaning or even purple states. It's the ones that are overrun by bad left policy, there's no doubt about what the right decision is. The only doubt is whether enough Americans are dumb enough to make it again. I hate to say that. I have some American friends. There's a lot of American listeners to this show, but that's just the fact of the matter. That's where I stand on the election. I hope that Trump is able to pull it out, but I wouldn't bet on it, honestly. It doesn't really matter in the end.

That's sad reality. Darius Dale did a great... I mean, I'll talk about this for a second here because I do want to talk about a fourth turning thing. Darius Dale had a couple of great slides on this, on Macro Voices on the weekend. You can go to the Macro Voices website and look at them if you want.

But the big one is, to your point, Len, and this is a point that a lot of bitcoiners make it doesn't matter who wins that election you know actually it's more likely in terms of historical mean even if you take away the last year of trump's recent presidency thanks to the covid stimulus it's more likely that a republican president will run up the deficit more than a Democratic president. Okay. I'm not shocked by that. It's crazy, going way, way back. And then I just want to know one other thing about that election

and fourth turnings and whatnot. Part of me says that if Trump wins, it'll be a delivered victory by the political elite, both in the US and abroad, because the US is in the middle of a fourth turning. Again, I'm going to point to these Darius Dale slides. I'll just share my screen here for people on video. This really blew my socks off when I heard it. And I very rarely actually go to the research that Macro Voices guests bring to the podcast. I just listen and try and take it all in.

But this is like an incredibly damning chart. And I don't know if you can make this out. Hopefully you can. But it's the start to trough change in US sovereign fiscal balance during two previous fourth turnings, one World War II, one in U.S. sovereign fiscal balance during two previous fourth turnings, one World War II, one in the Civil War. Civil War was 9.5%. World War II was 28.5%. And right now, we're at 11.5%. That's in the sovereign fiscal balance to GDP. And then the other one is the start to peak change in U.S. sovereign debt to GDP. Civil War was 27%. World War II was 103%.

And now we're at 68%, almost 69%. Like you're past the point of no return in a lot of ways. And I think that there's at least some possibility that you're walking into... And actually, Mark is in the chat. I said this before too on our show, I think on his own show on Bomb Thrower that you're you're in basically the last election or second last election this cycle regardless of who wins i don't even know what the cycle is so maybe you're

right although you're no you're i know you're in the last like this is the last or second last election cycle is what i mean you're gonna vote for the president this time maybe one more time and never again oh okay so you're gonna take away that the uh ability it's hard to it's hard to say at least in the current form i just wanted to go back you were saying that republicans you would most likely run up the deficit run and that may be true but i just want to state one thing the last time that the federal uh books were balanced and way based off memory. So it could be wrong. Clinton knows George Bush, the George,

this W H H O George W. Yes, it was. And I believe it could be wrong. Correct me if I, so that was the last time it was done. So, and it's not going to say that is Republic. I just think everything aligned perfectly.

Just that's the way things are. It's just, the world has to be in a certain direction. Just like Clinton probably balanced them too just because the communists fell and opened up new markets and so forth. But I don't know. I think it would be pretty drastic to see

if they're going to take away our ability to vote moving forward. It's not about taking away your ability to vote. It might just change the format of the vote, right? Like there's... Like oral colleges or something? Maybe. I don't know. Or like the other thing too and i wrote this today that you know people talk about the fourth turning a lot but the the thing that is going to be the catalyst for most normies you know you and me talk about the debasement of the currency and financial repression

and like basel 4 is coming it's going to force banks into like pity debt because no one's going to want to buy shitty government debt that's coming next year but the thing that's going to force banks into pity debt because no one's going to want to buy shitty government debt. That's coming next year. But the thing that's going to really be the trigger for a lot of normies is when one of the states secedes from the union. That's got to be coming. If Kamala wins and tries to tell Texas that they can't produce oil and gas anymore or tries to tell some right-leaning state they have to take 100,000 illegals. It's going to be a problem. And the states have had it. And the people in those states have had it.

They're tired of it. And I think that you're really going down this road where a fourth turning is not just inevitable. It may have already begun. It has. I mentioned it today in another chat the u.s i could be wrong with my numbers exactly but rake in federally four to five trillion in income tax and sales tax and all this bullshit tax yeah that's how much they rake in every year is four to five trillion yeah just one trillion of

that is earmarked for interest and that number is going up and up and so everyone's talking about gdp and stuff what do you do with gdp do you tax gdp to a hundred percent like you have to so people are already saying taxes are too high and you're only raking in four to five trillion dollars only that's a huge number and that covers 20 to 25 percent of just servicing the debt and that number continues to go up this thing is doomed to fail eventually it's going to come to a point where the interest in debt will be much higher than what you're raking in taxes and then good luck trying to spin that in any way say that yeah we could fucking get out of this we could work our way out of this fucking way right now you can't it's just it's it's now it's the fourth quarter it's now it's past the two minute warning you're down by

40 points okay you got the ball yeah you do but let's be honest you're not gonna be able to score enough fucking points to make this yet and we're close so good fucking luck throw the hair on hell mary and see what happens man i don't know about all this stuff but i i will say that um you know i'll use the four-year time frame again four years ago i you couldn't have told me this was going to be the situation we were in you know that somehow things would be even more unstable than during the covid years it wasn't no because you could look along like the past even before covid the one that i was talking about for a little bit at least for, for whoever listened to me, was the trade deficit.

You couldn't maintain a trade deficit like that year over year and maintain the level of quality of life that you do. Eventually, something has to give. When money keeps pouring out, you're just going for cheap goods, devaluing the currency, and eventually, you're going to have to deal with this. It may take a decade or two but it was that that was just brutal the brutal it was the trade deficit i'm reminded here because metro just said it in the chat the trade deficit even in canada like you you have to start adding energy to that right like like our environment minister today talking about capping emissions like dropping emissions by 30 percent for oil and gas by 2030. Let's do, we'll do the notables, I guess,

the first part of this show. We'll transition to Bitcoin. Sure, okay. So you're right. So 33% is the planned cap they want to do on oil and gas. And that's, it's over the next eight years, Joey. It's not like it's going to happen overnight. It's 2030.

Almost five years. No, they say over the next eight years okay okay all right um so yes and they're saying that um they're going to be spending uh ottawa's going to spend about 12 billion dollars on a tax credit this is going to be trying to encourage those businesses to assist companies to invest in those systems that trap carbon dioxide and return it to underground storage so 12 billion has been earmarked for this to try to incentivize businesses to capture that carbon and store it underground right i'm just saying what it is i'm not giving any opinion it's not a good policy like that's the problem i'm like leaning forward here

the problem is that it's not a good policy and you can say whatever you want about global warming about whether or not it's caused by humans about you know what we should be doing in terms of oil and gas demand for oil and gas is not going down it's going up the idea that people are going to pay for expensive energy because it's green, especially in the developing world, is nonsense. It's either stupid or a lie. The idea that Canadians are going to be operating on electric vehicles and whatnot when the winters get down to minus 40 in three quarters of the country is ridiculous.

It's just never going to happen. Shipping, flying, all that stuff, whether it's trucking or by boat or by sea, whatever, it just can't be done on electricity. It has to be done on gas. It has to be done on oil and gas products. And so when I hear stuff like this, part of me says that this guy and this government know it can't be done but they have to do it to to stay on message but then the other part of me says and i've said this

before like there's just no introspection no reflection and no plans on losing at the top of the food chain for that party for the moment and uh I mean, that's worrying for a number of reasons, but you be the judge. Is it a good thing for oil and gas companies to have to do this? Because you're going to need more oil and gas, so they're just going to charge you more if they have to pay for carbon sequestering

and carbon neutrality and carbon capture and all this stuff. It doesn't work. And so back to my earlier point about the sort of balkanization of the United States, right? What's stopping Alberta from saying, yeah, we're not doing this, and we're going to stop giving the equalization payments, and we're going to stop funding Quebec's pension and education and healthcare?

Good luck. Get the windmills to pay for it. What's stopping them? At some point, the productive parts of the country are just going to say no more no mas basta as the italians would say if they if they do that then they're no longer part of the dominion and that's right that's right that that's a because you run a state of you know how many people are in alberta five million six million i don't know something like that like can you can you run six million people if you go all in on ong i don't know maybe you know we have a little burgeoning financial sector there after 10 years we we have a lot of stuff maybe you might

look at the release there's like countries like oman exactly exactly the richest in the richest in the world you know but the one thing oil and gas with respect to the oil and gas i mean one can make an argument i'm not saying I mean, one can make an argument. I'm not saying I am, but one can make an argument that when doing one of these things, these type of ideas of trying to lower the amount of emissions, is you're trying to hinder one of the strengths of Canada, is that Canada has a number of strengths in that we have a lot of natural resources, fresh water, uranium, even wheat. It just goes on and on.

But they only look... Okay, yeah, sorry, go ahead. No, no, I was just trying to say you're just hindering that. water uranium um even wheat like this just goes on and on but they only look okay yeah sorry go ahead no no i was just trying to say like you're just you're just hindering that like why not try to amplify that rather than try to hide it and try to not bring it to market i mean that's what an argument one can make yeah i agree and the thing is i always hear this argument that canada is rich in natural resources well they're no good if they're just in fucking paintings like you have to actually use them okay you have to actually use the uranium. You actually have to nuclearize your grid. You actually have to use the oil and gas, use the forestry,

use the LNG, but we don't use any of it. We refuse. We instead are determined to die this slow grinding death that, by the way, again, not hypothetical. Look over at Europe. You know, like we can see what happens when you commit energy seppuku or whatever the Japanese samurais do. Like when you do this, it's not a mystery what happens to your society, what happens to your standard of living, your costs, your grid reliability. You know, you think the health care system's overloaded now wait till they have to run on fucking batteries you know like wait wait wait for that to happen you think your your kids schools uh you know air conditioning is shoddy now just wait it's only gonna get worse you know what i'm saying though yeah i'm embracing that ontario's nuclear but the rest of the country is not and seems to be in no way interested in going that direction, at least if you listen to the messaging from the feds.

Right? There's no talk about increased nuclear. It's all renewables. It's all green. It's all wind and solar. The shit doesn't work. The shit doesn't work. And the sooner people realize this, again, the other part of me, especially about the

election, okay, maybe the stove needs to be hotter. I can already see that people are not really worried about touching it. And I think that there's at least some possibility that we need to really turn the fucking heat up on that thing and stick people's hands on it and hold them there until they realize that what they're doing is causing problems for them and for everybody else. And it's not just about limousine liberal beliefs. And I'm not saying liberal party, limousine liberal in the traditional sense, right? It's more about how are we going to position ourselves pragmatically for a changing global order where our next door neighbor is probably not going to be the dominant superpower in 15 years. Like,

like what is the plan for that? Because if we don't have one, it's a little bit of trouble. I'm going to go even a little bit further in that. And for everybody listening and watching, it's not we, it's you. Yeah.

Realistically make a plan. You need a plan. Yeah. Realistically make a plan. Yeah. You need a plan. Yeah. It's a hundred percent. You need a plan for your wealth, for your family. You need to be agile, all that stuff. Yeah.

Yeah. And hypothetically, if you don't have to execute that plan, great. Because then things didn't get to the point where you had to execute it. But if you do it, at least you're further ahead than somebody who hasn't. So start making those plans, figuring things out. Because when the time comes, you're going to be happy you have at least thought it out and started the emotions of doing whatever. Totally. One thing I'll have to say one thing too.

I've learned something recently that at least right now in Canada, there is an exit tax. But the exit tax does not apply to the sale of a primary residence. Whoop-de-doo. So I'm just saying right now, the way things are currently, the way the laws are, if you are to sell a home and leave Canada,

the proceeds from the sale of said home, primary residence, is not subjected to an exit tax. A lot of people that is the majority of their wealth just just food for thought more than anything else it's something i've learned not too long for now for now and you know i just want to bring up and like capital controls okay this is another thing capital controls when i hear exit tax it kind of like gives me a pain in my stomach because it's like this,

this fake, this fake win that the government gives you, Oh, there's no exit tax. Don't worry about it. Or there's no tax on your primary. Don't worry about it. Yeah. But they tax you at 50 or 60% on literally every fucking thing else and give you nothing for it. So like, it's like, yeah, the exit tax. Great. I don't get taxed when I leave. They already have all my money by the time I leave, It's crazy that we accept this and just say, you know what? It's all good. Let's just keep it going here. There's this really, really thin veil still for a lot of Canadians that this is the best country in the world to live in. it has the potential to be the best country but um you know it's probably not even top 20 right now um even though we pay among the highest tax in the world and we

pay our elected officials i think the highest in the world too based on i still say it's top 20 right now it's still very safe you can get a job for the most part i think yeah there's there's a lot going for canada right now that a lot of countries don't have yeah if you're living in the other countries you look at it say shit things are pretty fucking bad and canada gdp per capita to match alabama right i think but united states is united states i think that would be the the top of the food chain or close to it so yeah if we are slightly worse than the worst that they have to offer, that's still not too shabby. You're free to travel within Canada.

You're free to travel outside of Canada. There's a lot you could do. I know people are going to probably bite my head off at this, but fuck, it is not too bad. But I saw some of those videos. Yeah. It is, in a lot of cases, getting worse. I just want to bring up one story, for instance, Joey.

This is one that encapsulates what's going on. It's a homeless camp that was discovered by Edmonton police. And this homeless camp is quite polished, considering the circumstances, because they have over there in this little it's like a gated community. I'm not I'm not fucking kidding, because when you go there, there's actually gates. You have to open up. It's camouflaged and everything. They have many power grid over there, solar panels, home appliances, the whole nine yards.

This thing, they have multilevel structures, multiple of them. And it's all fenced off by trees and broken branches and shit like that they fucking these guys were so like industrious they built or they buried two generators underground to provide power so it's genius these guys are like wonderful stuff and even one of the multi level structures it was really well furnished because it had a fireplace in it, a sink with running water, washer, fridge, stovetop, coffee maker. How much do you think? Yeah, keep going. Keep going.

Oh, okay. Welding equipment. They found welding equipment here. One person was living in that cabin since winter of last year. This is Edmonton, Joey, where winters are not anything but harsh. They're fucking brutal. So this is the stuff that's there. are not anything but harsh. They're fucking brutal. So, it just goes this is the stuff that's

there. It's probably going to grow because it's difficult to make ends meet in Canada. It's getting older by the day. But I just look at that as like that is just, it encapsulates everything, encapsulates what everything is going on in Canada right now, I think. Here's a question for you, alright?

You got a pretty decent sized encampment there, two generators generators running water, some other amenities. Uh, how much do you think it costs those hobos to put that stuff together? I think some of it might've been stolen. So I, it's hard to say. Like what does it cost? Do you think, you know, like, let's say they do it all above board and you got to put a price tag on all that stuff. What's the cost? 15, 20 grand minimum. But what's the max? I was going to say like 50 grand, let's say. Let's put it at the top end. It costs $50,000, all the equipment, all the gear.

Here's an article from CH News, my hometown newspaper. This is with regard to a city-sanctioned encampment site, new shelter beds from our fearless leader, Andrea Horvath, who knows nothing. Here's a quote from the story. Many community complaints voiced at wednesday's meeting this is a while ago september uh observe that many of the proposed temporary solutions would cost the city millions are you ready for this hope you're sitting down go ahead newly approved encampment site would cost the city 3.9 million annually and 2.8 million up front so about six million dollars for year one it would create shelters and washrooms

oh so 3.9 million yeah 3.9 million annually and 2.8 million upfront so 2.8 to start then 3.9 3.9 i'm looking at the running cost and they always low uh when we'll just say it's gonna be higher it's gonna be higher yeah so how many houses do you have to tax to get to that four million dollars depends on where you tax right but you know let's say the primary revenue from a municipal let's say you pay like you know what's your my property tax is pretty high so i won't use mine but let's say you pay like three thousand in property tax right okay do the math on that that's what yeah a thousand houses something like that do i have that number right that goes plus a few more for four million and then you're also taxing and by the way those those by the way those thousand let's say 1500 houses you tax by the way you're putting the

encampment in the park that they can no longer use how's that and potentially devaluing their property oh it's nearby it's incredible it's impact i'll never say that right it's like this whole thing is a joke it's a joke and you know not to blackpill i was listening back to some episodes we've done the last little while i'm like we are blackpill and me especially like crazy but i look around and i just think like everyone here is fucking retarded like what like what are we doing constantly making the wrong decisions on every portfolio, every file, every day, over and over and over again. How can this be? What happened? It wasn't like this 15 years ago. No, it wasn't like this five years ago.

What changed? How did this happen? And it happened so fast. What is the difference? What came around? What was the catalyst they they shut the economy and zoom meetings is the cause like that can't be it what is the cause no it a lot of people were stuck at home thinking up new ideas like just it was the perfect storm right devaluing of the currency because they had quantitative easing and then people had to have been given serb or seba which is uh for those who aren't aware uh it's essentially money for people that couldn't work or people that have businesses that couldn't open up so they could still maintain a roof over their

head and their business is gonna go tits up so this comes from somewhere and then all this shit it just makes the problem much bigger yeah it existed before now is oh fuck now it's even bigger now every I would love to have like Horvath or one of the more social media friendly

counselors like JP Danko if you ever want to come on this show like you're more than welcome explain to me what the fuck is going on in City Hall and Explain to me what the fuck is going on at City Hall. And explain to me what the fuck is going on in every major city in Ontario at City Hall. They'll say they have their challenges because they have an influx of homeless.

That's all they ever say. That's all they ever say. The fix cannot be... Like I just described to you. They need more resources, but they're not going to get it. Yeah, of course. They're going to tax you to get them, and then people are just going to leave.

The Laffer Curve is not something to fuck with. If you keep going at this rate, people will fucking leave. And then what? That's it. It just continues. But this problem existed from the beginning of, I'll say, time. But it's been there for a long time. It's now more noticeable.

And it's now hitting you harder because you're getting older. It's at your doorstep, right? it's at your doorstep right it's at your door it's at your doorstep i mean yes everyone's seen these videos of the nelk boys going door to door asking people if they support harrison or policies and get the signature and then they bring in the bus full of spanish guys and they're like yeah we we just brought you but there's only two migrants we're going to move in here you guys only have about 4 000 square feet so we're just going to move in two migrants we're going to move in here. You guys only have about 4,000 square feet. So we're just going to move in two migrants. And they're just like, no, no, no, no, can't. And then can they at least stay for dinner? No, no, no, no. Like, okay, man, everyone's for this stuff until it's at your front door. And, uh, you know, quite literally in that case at

your front door, they no longer are interested. Right. And I think people now are starting to realize that your front door is a lot closer to the problems than maybe you thought a year ago. But let's see again, like not to bring us back to the election next door tomorrow, but how many people are going to make the same mistake? Well, there are people that are just hardcore red and hardcore blue, no matter what. But that's a mistake, right? Like that's the mistake I'm talking about. Are you really going to do this again because you are so invested like your personality is so vapid vacant and you know yeah full of nonsense that you have to vote on color lines like what are we serious about this yeah people will look at and say they see a female running it's oh it's time for a female president regardless yeah it's so true it's so true it's so

true and there's other people that say trump look he's got some um he's a little rough around the edges you grab some other pussy etc etc yeah they don't want that and yeah you know she may not have that same type of you know he won't be as difficult as as uh with her in the helm than him so there's a vote for and so there's a lot of different reasons it's just none of them are good by the way it's on both sides it's on both sides like i would never vote you know if polyev wins right or if polyev can't during a debate deliver a coherent plan on how he's going to reduce deficit right or how he's going to cut immigration because i haven't heard that from him then i like i'm not going to go out and cast a ballot for that guy. I'll just keep voting for Bitcoin with my wallet and thinking about moving jurisdictions with my

feet. And that's all I can do. That's the most competent thing to do now. The Liberal Party of Canada, to their credit, they have lowered the number of people coming into Canada. Yeah, but like I said to Ben the other night, that's not really what they're saying. They're not really saying that. They're not really talking about lowering that number. The problem is not lowering the number going forward necessarily. It's making sure that you don't get these people using different avenues, right?

You talked about this on this show like three weeks ago, the spike in asylum claims from Mexico, the spike in asylum claims overall, if the government follows through with those policies, those claims will go up. And this international law governs these things that we don't seem too keen on violating. And so I don't buy that they're going to reduce the number in a big way. The other thing I would say is that the damage to the culture and to the society and to the services and to schools and hospitals and all this other stuff, it's not necessarily the fault of the immigrants, but the damage that's being done because of the sheer volume, it can't be undone by reducing the number of newcomers coming three years from now. We have to do something about the people who arrived already, whether it's build and add

capacity or remove the people who came. And that's what has to happen. And I don't hear anyone saying that. They're doing. No, they've not said it directly, but the latter of the two is going to be done because they've said they're not going to be extending temporary former.

We're going to see. We're going to see if they make it. We're going to see if they have the if they have the resources and the gall. They won't have the resources to go after them a lot. They're going to see if they have the if they have the resources and the gall they won't have the resources to go after them a lot they're going to hope that voluntarily leave oh once once your status runs out though yeah it's just a matter of time because as you get in a car and you get stopped for it because there's a light out then i know this is just one and you'll never be able

to capture everybody, but you're living underground. You're living a tough life. You don't have a social insurance number that starts with... I think it starts with number nine. The one you get with... You don't have one and employers look at what the fuck is this, right? So... The thing is

sending all those people back would completely torch the GDP number. It'd torch it. GDP per capita, torch it. All this stuff about we're among the top in the G7, G20. The branding is too... Have you heard about some of these foreign workers coming here

and they're working for under minimum wage yeah of course that's why there's 20 people living in some of these houses in brampton you see on on these videos that go up right like i'm not sure nobody nobody wants to live 20 well no one well yeah of course it is it's it gets measured somewhere it gets measured when they spend the money because they're spending they make fun yeah but if there's well that's the whole point gdp per capita is going down because of that right that's exactly the point because they make fun of it. Yeah. But if there's, well, that's the whole point. GDP per capita is going down because of that. Right. That's exactly the point. And so I'm saying it would be even worse. Yeah. Sorry. Yeah. You're right about GDP per capita, but GDP overall. Right. You see these projections that we talk about Freeland talks about all the time.

Cause they don't, they never talk about GDP per capita. They just, they don't just switch narratives rather than talk about GDP per capita. Maybe they will, GDP per capita going up. Maybe they'll say that. I don't know. It is funny, though, that you're at this point now where something's got to give. The narrative is fractured. The voter base doesn't like the policies for any party. Everyone thinks government is too bloated here in the States, in Europe, wherever.

So I don't know, you know, like what's the, the fix. This is why, this is why Bitcoin is so important because if you leave your long-term success financially, culturally, with your family, with your friends, with your community, to these policymakers, you're fucked. And again, it's not a hypothetical. Look around. Have a look here at the States, European countries, Australia, whatever. You look around. You can't say that things are better now than they were 10 or 15 years ago.

You can't. No country can really say that. No country can say that. You can't say that families are stronger than they were 15, 20 years ago. You can't. You can't say that schools are better, healthcare is better. You can't say that innovation is happening as quickly. You can't say any of it.

What you can say for sure is that everybody wants more of what you got. They want you to be able to do less about it. They want you to be able to do less about it. They want you to be able to talk about it on fewer platforms and without being able to speak freely. They want you to learn in school that everything is fine. And they want you to work at a job that doesn't let you get ahead so that you can actually affect change. And all along the way, you'll be eating Cheerios, consuming widgets from Amazon. And then you die probably single and maybe without a pet because that's bad for the climate too so i don't you think

eyes if you don't have one yeah exactly the government will take it and kill it so bitcoin at the very least puts you into a community of people who are like-minded and takes you out of this black pill you. Super. But more importantly, honestly, more importantly, is that if we're right about this, the financial freedom you will enjoy and your offspring will enjoy and their offspring will enjoy will be immeasurable in terms of the improvement on the mean quality of life 15 years from now, if this continues. Because the slow grind to disaster is unrelenting everywhere in the modern world at this point it's everywhere you gotta have a point man yeah you have definitely you gotta taking that money away from the people that control it yeah because they can manipulate

it however they want and they do and they do yeah weaponize it all that stuff with bitcoin there's only so many it is a ledger that is transparent you can look at it you may not be able to solve everything but it is there if you haven't put enough time and resources you can figure shit out sure and when you have it it's yours and nobody can take it away from you. Yeah. Right? Otherwise, you'd be in a algorithm ghetto eating Cheerios all day and all night. You know, it may be a good time to transition to Bitcoin-related stories.

I think it might be. Let's do that. If you're on audio, see you tomorrow. If you're on video, spaces, whatever, there's a couple hundred of you guys. Hang in. Let's keep it rolling here. Let's keep the good times rolling.

And don't be a cock.