Timcast IRL - Timcast IRL #283 - State of Emergency After MASSIVE Oil Pipeline Hack, Gas Shortage Feared w/Max & Stacy

Episode Date: May 11, 2021

Tim, Ian, and Lydia join Max Keiser and Stacy Herbert of the Orange Pill Podcast to discuss the emergency declaration in 17 states surrounding a cyberattack on a fuel line, the increasing cost of consumer goods, gas stations running dry, fast food employees refusing to work, the bright spot of Dogecoin (maybe!), and the firebombing of the LAPD and a vehicular attack on a Massachusetts police department. Learn more about your ad choices. Visit megaphone.fm/adchoices

The largest oil pipeline has been temporarily shut down. A state of emergency was declared in 17 different states in Washington, D.C., and there are fears that this could end up causing gas shortages and maybe even a spike in gas prices, which are already up as it is. Now there's talk of inflation. There is fear that the bill is coming due. All that money that was being printed, all of these people who are getting $16 an hour in unemployment, all of these signs popping up across all of these different fast food restaurants where

they say, we quit, we won't work here anymore. And there are fears that the economy isn't going to be recovering like many people think. This past jobs report was actually surprisingly bad. I guess they said it was the biggest miss since 1993, but don't take my advice for it, because I brought in the experts to actually help us break down what's going on. And we have the legendary Max and Stacey, Max Kaiser and Stacey Herbert. Now, let me just say before – I want to ask you guys to – I'm feeling good. I'm feeling really good. Excellent.

I'm on the Tim Pool cast. That's the kind of feeling I like to get. Let me just say one thing real quick. Hot! If you guys listened to Max and St Stacy when they were first shouting out Bitcoin, and you invested when they told you to, no joke, you would be a billionaire. That's right. We've made many billionaires all over the world.

A hundred millionaires. You know, our show goes out globally, 50 countries, millions of folks. We estimate we've created a half a million millionaires around the world. And, you know, started buying it at a dollar. And we were the only ones covering it in the world for several years. And, you know, we just, wherever we go, we're treated like saints, basically. A lot of people are rich now. Photos of Max and Stacey on their wall with little candles burning and incense.

And there's Stacey and Andreas Antonopoulos. Those are the two holy saints of the Bitcoin universe, wherever you go around the world. I will say that there are probably more millionaires than billionaires, Tim, because you can't forget that between 2011 and now, it was very easy to spend or lose or have your coins hacked. So very few will have kept all those coins that they got back when it was a dollar. As we were pointing out before the show, when it hits $100, you're like,

whoa, I have so much money. But not just... I think we'll talk a lot about Bitcoin because of what's happening with the economy. But, I mean, you both have talked about the economy in general more than – you were just explaining to us how the Fed works, the interest rates. So this is going to be really interesting. People are worried about inflation. Now, I guess the Fed has done a 180 like, no, no, no, no, there's no inflation.

We are kidding. It's not happening because people are worried. So we're going to get into all of that. We also got Ian Schillen. What's up, everybody? Ian Crossland, iancrossland.net. Did you guys see when Obama basically bailed out Fannie Mae and Freddie Mac? Is that when the writing went on the wall and you were like?

Oh, it goes back to the 1987 crash of 1987. And I was working on Wall Street at the time. And that was the beginning, really, of when the federal government kind of took over markets. Because you had the crash of 87 and the next day the markets were set to open another 500 points down or 22 23 percent down it was the biggest percent moved down in the history of the stock market and you had alan greenspan ronald reagan and um the other fella over there um rubin, they created the Working Group on Finance, which became known as the Plunge Protection Team,

and they started buying stocks in the open market under the federal government. And so this is when you had the beginning and the end of free market capitalism in America was really then in 1987. So subsequently, throughout the decades since then, the government's become more intrusive into the workings of the markets.

So you ended up having under Greenspan what became known as the Greenspan put, which became the Bernanke put, which became the Janet Yellen put, which is now the J-PAL put. And what that refers to is every time the markets go down, the feds come in and they buy markets. So you don't have any risk. And they eliminate the risk, particularly in the large fund and hedge fund universe, they know that they are playing a rig game where the risk is minimal to zero. They're borrowing money at zero. They're speculating without any restrictions or laws being enforced against them whatsoever. And whenever they make a mistake, they get bailed out. So it's heads they win, tails we lose.

So buy Bitcoin. No, no, no. Not financial advice, but we'll get into all this stuff. We also got Lydia pushing all the buttons. I am in the corner. I have to admit this is my first exposure to Max and Stacey, and I am so excited for tonight. I've known you guys for a really long time,

like right back to Occupy Wall Street. Yeah, yeah. We were hanging out in Paris. That was so much fun. And you're still the same age. I know. I don't age. What is going on?

Magic. Jim Pool is the fountain of youth. Part Asian. No, that's the secret. That's it. It's incredible. All right. Before we get started, ladies and gentlemen, go over to TimCast.com.

There's a big, beautiful blue button that says Members Only. And you can sign up for our Members Only, for Members Only at TeamGuess.com. Help support our work in the event we get banned or purged or whatever. But also, we do have exclusive Members Only segments. You can actually sign up now with Stripe because a lot of people are requesting something other than PayPal, which is available. Then you click the Members area, and you can see our awesome segments that are only available to members. Last week, I talked about how Venezuela hacked my friend's Facebook trying to spy on me and get me to reveal my location while I was reporting from Venezuela. And I showed the phone messages from the Venezuelan agents or whoever they were.

If you want to see that, you got to be a member. But don't forget to like, share, subscribe, subscribe to this channel, share this video. And if you're listening on iTunes, Spotify or wherever else, leave us a good review. Give us five stars. Let's talk about this first story because this is major breaking news. We have this from Axios. Emergency declaration issued in 17 states and D.C. over fuel pipeline cyber attack. So the Department of Transportation's Federal Motor Carrier Safety Administration issued a regional emergency declaration for 17 states and Washington, D.C. to keep fuel supply lines open. Colonial Pipeline carries 45% of fuel supplies in the eastern U.S. Some 5,500 miles of pipeline has been shut down in response to the attack.

So if you're not familiar with the story, this is a ransomware attack, basically hit one of the systems at Colonial. I don't know if it actually hit the industrial control systems, but their computers, which basically means their administrative computers. These hackers have said, unless you give us money, we're going to encrypt your machines. You'll never be able to use them. They shut down in response. It's typical of what happens to companies when they do get hit by this,

but this is a major attack on our critical infrastructure. Now, the funny thing about this, I think, is that the hackers have apologized. You guys saw this? Yeah, yeah. They apologized. They said, my bad. We won't take the money. It was bad.

Did they release it? It was an error of judgment on our part. Start shipping that oil again. Reopen the East Coast. Sorry. Well, so the people who made the ransomware, I guess, said that we'll have to vet our clients and implement moderation policies. Definitely.

That's a good recommendation. There's some standards in these hacking communities. Yeah, these hacking communities have got to get some standards. How do they have more standards than, like, the Fed? Well, you know, it's like when I was living in Harlem, they used to say, uptown, there are no cops because, you know, you are the law. The law, you are.

You have to be honest because there's no cops. Right? So in the hacker community, there's no cops. So you have to be honest. There has to be standards. So I guess basically this hacker group, what are they called? They're called DarkSide. FBI names DarkSide as the Colonial Pipeline cyber attacker.

I guess they sold the ransomware to someone who then used it and ended up getting a pipeline shutdown. If you're one of these hackers, you don't want the pipeline shut down. You want to use your money for stuff. So what's the point of getting the money if there's no oil? What are you going to do? Go buy a farm, I guess. Well, it brings up a couple of points. The infrastructure in the United States is weak and getting weaker, and that's a huge problem,

and there's very little funds to take care of it. And also you have the ransomware, and the inability to deal with that is kind of a secondary problem. But primarily the roads, bridges, tunnels, infrastructure, pipelines, oil pipelines, these things have gone neglected for decades, and now they're starting to fall apart. And the federal budget doesn't have any budget to repair these things. The country is already broke. And their solution,

Tim, is always the same. Print money. Is that real money? This is not real money. None of it. You want to spray real money, you can spray real money. Well, you told me I shouldn't rip up real money. Don't rip up real money. I was ready to shred another $20,000 right here on the Timcast. You're like, no, no, don't do it.

I'm like, listen, I'm Max Keiser. I rip up money. That's what I do. And Tim's like, no, no, don't do it. Don't do it. So I got to use the fake money. I got to use the fake money. But this is all they can do.

They say, oh, the bridge broke. Let's print money. Oh, the pipeline's broke. Let's print money. Oh, we need more roads and bridges. Let's print money. Oh, the pipeline's broke. Let's print money. Oh, we need more roads and bridges. Let's print money. Oh, there's not enough minimum wage jobs. Let's print more money. That's all they know how to do.

They don't know how to do anything else. That's the entire policy of every freaking politician in America. That's it. How much did they print last year? Like $58 trillion. $58 trillion? No, no, no, no, no. They increased the money supply by 25%. So... It was like $3 trillion? $58 trillion? No, no, no, no, no. They increased the money supply by 25%. So it's a huge jump.

It was like $3 trillion or something. It goes from yelling to Stacy's calm. Yeah, yeah, yeah. They're just adding more zeros. There's no cost to it. It's like, remember when Zimbabwe, was it Zimbabwe where they had like the billion dollar bill? The trillion dollar.

Trillion. Trillion dollar. I like also that, you know that over the past, since 2008, they keep on pretending that they're all meeting together, all these academics and economists, and they're going to come up with a new plan. And it's all the same. It's the same exact money printing, and they call it a new thing. And they're like, now we're going to try this. So let's go back to the gas pipeline real quick. Let's go back.

Let's do it. You mentioned- Let's go to the Wayback Machine. The Wayback Machine. Infrastructure's crumbling. Think about computers 20 years ago or whatever when they built

the industrial control systems for these pipelines. Yeah. And that's the level of technology many hackers need to overcome and it's like 80s computer technology.

Yeah, they use... What's that operating system from the 80s and the 70s? Unix? Oh, no, COBOL. COBOL, yeah, yeah. What? They use COBOL.

Our entire banking infrastructure is on COBOL. Oh, weird. And there's only like three guys who know how to program it. Wow. And those guys are, you know, paid a lot of money. Maybe, hold on.

Security through obscurity. Yes, yes, yes, yes. They actually say that, yeah. I know, yeah, it's a common phrase. So what happens is it's so archaic. It may actually be easy to hack, but you're going to get some like 18 year old hacker in Russia

being like, I have no idea what this is. What is this language? But there are only like a handful of guys who still know how to use it. Speaking of like people being like, please work for us please please like they're in retirement they're in their 70s and they're like we just want to be retired yeah but our

whole banking infrastructure is about to collapse come fix it it's crazy to me that you had people they built up this system and then basically shrugged and walked away from it and it's falling apart yeah yeah well they're cheap well it's like, you know, the. But as Max will also point out, you know, the whole derivatives that that complexity and in the financial system now is just so huge that by the time like more advanced stuff came around, they they just didn't know how to unwind any of it. Like it's all trapped in this old system. Yeah. So. So. So, you know all trapped in this old system. Yeah, play the spaghetti. So, wait, wait.

You know, I... Yeah, the derivatives. Yeah. I talk a bit about this watching all the different stuff that's been happening over the past few years. You know, police departments,

cops are quitting like crazy. Yeah. The riots are getting more emboldened. You know, and I say things like it feels like things are collapsing. They're falling apart.

There's a rot inside the core. It is, yeah. But you guys have been talking about that for way longer than I've been around. So you've been watching this spread, I mean, especially from financial markets particularly. Yeah, because the markets are rotten and the money that we use is rotten. The U.S. dollar is rotten. Fiat money is rotten. It goes back to the 1971 when Nixon took us off out of the gold standard essentially.

And the world started on a very bold experiment every country in the world had fiat money that is this it's not backed by gold or anything and so it became referential to other fiat money so the dollar is valued against the euro which is backed by nothing backed by the yen backed by the Chinese yuan it's all it's a circle jerk that goes around and around and around I think it's backed by a bunch of people with guns telling you it's worth something or else. That's what Paul Krugman says at the New York Times. He says that the reason the dollar has value is it's backed by men with guns.

And that's true. That's why you say fiat money is violence. It promotes violence. It is violence. And it promotes war. The petrodollar certainly is part of the U.S. dollar matrix. And that is all about war and the cartel and everything that goes on in the Middle East, and it's all dollar-related. But if they can just print out money as easily as I can pull this trigger and fire off some, why can't they just fix our infrastructure with it?

Because they give it to banks, and the banks buy chateaus and property on Park Avenue, and Jamie Dimon is a billionaire. So Occupy Wall Street? Yeah, yeah. They have a problem, and that is that the U. Jamie Dimon is a billionaire. So Occupy Wall Street? Yeah, yeah. They have a problem, and that is that the U.S. dollar is reserve currency. They have to send it overseas. You can't control the world. You can't have dollar hegemony. You can't have American hegemony without sending those dollars overseas.

So they don't spend it here because that would cause inflation, and they don't want inflation. So they send it to China. They send it to Europe. They send it to the Middle East, and that is supposed to sustain this hegemonic system. If they stop sending it overseas, if they were to start building factories and employing people across Michigan and Iowa and Idaho and places like that, then the dollar would no longer be the result. Right, right, the trade deficit. So dig into it.

I mean, go into the – Dig it. Dig it. Dig into it some more. I mean, this is really fascinating stuff. This is the nettle of it. This is the Triffin dilemma, as they call it. They call it the Triffin dilemma. Continue.

What's going on? Well, the Triffin dilemma is something that was warned about when we did Bretton Woods back in 1944. And Triffin had warned that the problem with having a reserve currency is that the geopolitics versus your domestic economics, they get into conflict. And that's the point we're at now. We hit it first in 1971 because as a reserve currency country, we had to send all our dollars overseas, right?

And that was backed by gold. So what you're doing is you're sending your gold overseas. And when France sent their warship into the harbor of New York to come collect their gold, they got their gold. England asked for their gold. They didn't get their gold. We shut the gold window. But since 1971, what's the next step of

the triffin dilemma you send your manufacturing you hollow out your manufacturing base and that's what we've done we're at that end point that's why you're seeing this disintegration you know it's just the entropy of the system it's the entropy of the american empire of the dollar system things things disintegrating faster and faster yeah. Do you guys know about the fourth turning? Yeah. Yeah, we had, who was it? Was it Ben Norton? Ben Stewart.

Ben Stewart. Who's Ben Norton? I don't know. Cool name, though. Ben Norton is that left-wing guy who works with Max Kudlow. Oh, that's right, that's right, that's right. Well, shout out, Ben. No, we had Ben Stewart.

He was talking about the book and a lot of the stuff that he was studying. And yeah, I guess the theory, whether it's true, and a lot of people say it's bunk, it's just nonsense, but... No, it's good. 2020, 2028. Yeah, well, they wrote about it in the 1980s and they said it would be, 2025 would be the year to look for it.

They said back then. So earlier I showed you guys, we're just going to release the secret live on the air. Do it. That there is a secret room in this building that no one knows about.

And in it was food and beans and bullets. Yeah, yeah. So good idea, huh? Yeah, yeah, yeah. Yeah, it's good. I want one. I want to live there.

Can you rent it? That could be like an Airbnb. Absolutely. Well, so we had a tornado warning recently. Like legit. And like the mail lady came up and she's like, get inside now.

They just called it in. It's like there's a funnel cloud. It's coming right this way. Yeah. And so we go. It's underground. It's like there's a funnel cloud. It's coming right this way. And so we go. It's underground. It's like this underground thing. No windows. No windows.

It's literally – Just edible gummy bears. Yep. That's all that's in there. Edibles and gummy bears. Yeah, because the idea is if you're going to die, you want to just feel good on the way. Yeah, that's right. No, no.

It's literally a storage room. We have like – Right. I don't know. Ian bought like 20 gallons of vinegar for some reason. I'm not done yet. Oh, no. But I don't want to get into like 20 gallons of vinegar for some reason. I'm not done yet. But I don't want to get into it.

But you guys are saying, you know, in the context of war and the fourth turning, are you guys familiar with Thucydides Trap? Yes, we are. We have an episode of our show called When the Fourth Turning Meets Thucydides Trap. Oh, wow. That's what's happening. Yeah, yeah. That's not happened before, has it? No. Well, maybe the two of them happening together, probably.

It's happened 18 times, Thucydides Stratus. Right, right, right. 16 have ended violently. For those that aren't familiar, it's basically, and correct me if I'm wrong, that when a rising economic power meets, is about to overtake the dominant power, war breaks out. Yes, and that happened in the past few years.

And you notice all the propaganda against China. Sure, China is a different system than our own. And there are many problems with it, obviously. But we really started becoming very hostile to them once they overtook us in 5G, artificial intelligence, all the high-tech stuff, which remember Joe Biden had mentioned back in 2000 when he was encouraging Congress to vote to elevate them

to the WTO on favored nation status. He was like, China's going to eat our lunch. Come on, man. It's not going to happen. No way. But it seems like Biden and many billionaires and big corporations are totally deferential to China, if not absolutely supporting China. Yeah, they don't care. They'll go where the money is.

Exactly. Hollywood edits to favor Chinese government and things like that. The Top Gun in China, Tom Cruise is actually Chinese in the release. Really? No. Well, but I wouldn't be surprised if they said he was. Well, they did change

a lot of iconography. Because, you know, they would change, like, the storyline. But they got rid of the Tibet campaign or whatever. Taiwan.

Taiwan, that's what it was. Yeah, yeah, Taiwan. Right. Yeah. No, I wouldn't be surprised if they did something like that. In that one movie, I can't remember what it was,

they added the lines over the South China Sea. Yeah, animated movie. Yeah, so it's like a little girl walks past a world map and it's China and the lines over the South China Sea. Yeah, animated movie. Yeah, so it's like a little girl walks past a world map, and it's China, and the lines for the South China Sea are lined. Well, that's the Thucydides Trap. So China drives the global economy, and they're going to drive the cultural agenda as well. The thing that changed, the thing that put us on the path towards a violent conflict was 2014, the Belt and Road Initiative.

So what always happens is, as I was mentioning, when you have the world's reserve currency, you have to send your dollars overseas, because they can't print dollars, so you have to get it to circulate. So first we were sending Saudi Arabia, Europe, and they kept recycling it back into treasuries. Well, that's what China did until 2014. Then they started taking their dollars and lending it to Africa,

lending it across Asia, to other nations and building infrastructure and ports and stuff like that. Off U.S. citizens. Yeah. And America was like, wait, this is cheating.

It's not cheating, really, but we're going to say it's cheating. When we loan money to China, are we borrowing it from the Federal Reserve and then we owe the interest to the Federal Reserve and then loan it out? Or does the money get loaned to the Chinese and they owe the interest to the Federal Reserve? Well, basically, we have a trade deficit with them. So you have to run massive trade deficits when you have the reserve currency. So that's the lie that nobody will tell the American people.

You know, Trump came close to it when he was like, make America great again. But the point is, you have to tell people, like, we either have the reserve currency or we have a domestic economy. Which do you want? And when you say we run a deficit, what is that exactly? What does that mean? So China sends us, say, half a billion, say for ease, say a trillion dollars worth of goods. And we only send them 200 billion worth of goods. So they send us 800 billion more. We send them 800 billion more than we sell to them.

They're getting more from us than we're getting back. Is that what it is? Yeah. They're selling us their goods. Yeah know and we're we sell them less and less let's talk about the the ramifications of you know mass money printing and all this stuff i have the story from axios the wild ride of pandemic consumer prices i find it interesting that they just they say it's the pandemic right not as opposed to what's been going on in this country for some time when you uh so we've looked at the m1 money stock quite a bit, and sometimes M2. You guys know better than I do.

But you can see around 2008, there's a major uptick in the money stock, and then at the pandemic, a massive spike. So I think this kind of stuff's been happening for a long time. But they show us laundry detergent, I'm sorry, laundry equipment is up 29%, car and truck rentals 24 major appliances 19 propane kerosene firewood 15 pork chops 11 used cars and trucks are up 10 then there's weird stuff like women's dresses are down 14 public transportation is down 15 men's suits are down telephone hardware is actually down 20 which is interesting and airline fares have dropped dramatically i think that's for obvious reasons but uh just to point out, lumber prices have skyrocketed.

Steel has skyrocketed. There's a shortage of a lot of computer equipment. So we've been waiting now for over a month to get a new computer for the studio. And we keep getting told from everybody, hard to come by, can't get it, sorry. It's been particularly difficult. Prices are going way up.

Yeah, they are, yeah. Well, and you mentioned computer components and the price they're saying is going down. But that's actually, if you dig into it a lot of times, it's a lie. For example, if the phone, they'll say it's twice as fast as the phone that you bought two years ago. They'll say that means that the price has dropped by 50%. Interesting.

Even though you still paid the amount, the same amount. Right. $1,000. They say, actually, it's 50% cheaper because it's twice as fast. And that's what they cook into their books. And then when they go to the Bureau of Labor Statistics reports, the CPI numbers, the numbers are cooked. They're rigged to show an outcome that they have pre-configured. They want to show 1.6 percent or whatever the number is. And they do whatever they can to hedonically adjust these numbers to get to

that number because they have an incentive to keep the reported inflation as low as possible. All right. So I'm sure that you're both Bitcoin trillionaires. Yeah, definitely. But for the... But we're in it for the technology. But for the regular people, right? Regular people right now who have been working 40 hours a week, they've been getting paid and they're watching people get paid $16 an hour on unemployment.

Yeah. The people that are seeing all this stuff, the price is increasing, what do they need to know and what do you think people should look out for? Well, inflation's here. It's a secular move in inflation. It do they need to know, and what do you think people should look out for? Well, inflation is here. It's a secular move in inflation. It's not going to be temporary. It's going to be now structurally baked into the economy, and prices are going to start to go up on a regular basis.

And the reason why it wasn't as visible as it has been with all the money printing that has gone on is that essentially jobs were shipped over to China and that kept the numbers low for a long time because there was no wage pressure. But now, since the middle class in China has equaled the more or less middle class in America, you don't really have that sink of cheap labor anymore. Right. So now prices are going to start moving up in reflection of their actual money supply numbers for real. And that's what people are seeing. So one key statistic, and this is true, is that once the budget of the average family, once they allocate 40 percent to food, that's when you usually see an insurrection.

So we saw it in Egypt. When the price got to 40 percent, there was a revolution. We saw it in France, the French Revolution. When the price got to 40%, there was a revolution. We saw it in France, the French Revolution, the food cost got to around 40%. In the U.S., for a vast majority of folks, we're now bumping into that. We're now approaching that 40% number. So that would indicate historically that you're

getting close to a flashpoint where an insurrection would become historically the norm. Wow. That's scary. All those things you're talking about. Not really. Did you guys buy like a mountain bunker in New Zealand or something?

It's normal. I mean, you know, things happen. And there's cycles. Cycles happen. And the Thucydides Trap, as you mentioned, that's going to lead to deglobalization. You're already seeing the deglobalization. That causes prices to rise.

You have the fourth turning, this young generation, the Generation Z aren't going to. Do you think they're really going to give 80 percent of their wages over to the retired boomers? No, they're not going to. Right. No, I wouldn't. They have the numbers as well. So they're going to tell them to stick it. Then in terms of the inflation numbers, yeah, we're at the end of that cycle as well. We're at the end of the dollar. The Triffin dilemma has reached the endgame. And you see that with the extraordinary amount of money. I mean, Max and I have been reporting on the global financial crisis since 2008, 2009.

And the stuff they're doing now is just beyond any of that, right? It's like if you look at the charts of the money printing and the interventions in the economy now versus 2008, it's like it's beyond anything. It's so ridiculous. And yet, you know, we're still in the crack of boom side of it. Like things are like stock markets are at all-time highs. House prices are at all-time highs. Incomes are up 20%, over 20% in the last year

for the ordinary American. Incomes are up 20%, most of it from the government transfers. So these are crack-up boom times, and they're printing more and more. You're supposed to do the money printing. The theory under Keynes Like, you're supposed to do the money printing. The theory is, under Keynes, is you're not supposed to do that during the crack-up boom times. You're supposed to wait for the crash. But they're not even waiting for the crash anymore. Again, getting back to this green span put, or the machinations of the plunge protection team or the government in terms of markets,

is that they would not allow for a normal business cycle to take place. Yes. Where you have a downturn, and then you get rid of, for example, the banks in 2008 were caught committing massive fraud. And so in a normal capitalist economy, a business cycle, those banks would have had to go bankrupt, and we would have had new banks and new jobs. But instead, they bailed out the creditors. They bailed out the banks.

Again, historically, you never see that. Usually in a crisis like that, the debtors get bailed out, the people who are at the mortgages and the debit credit cards will get bailed out the banks. Again, historically, you never see that. Usually in a crisis like that, the debtors get bailed out. The people who are at the mortgages and the debit credit cards will get bailed out, not the banks who made the fraudulent loans. They got bailed out. And what they did with that, what let's call $16 trillion of bailout money when it's all said and done, is they simply were allowed to expand their credit card, expand their credit facilities, and do the exact same things that caused the crisis in 2008, but to do it 10 times to 20 times bigger, or 20 times worse. And we've been saying now for 10 years that, you know, what's going to happen in 10 to 12 years is going to be the 2008 crisis part two. And that's exactly what we're in now. It's just the same crisis from 2008. The global

economy died in 2008. But now it's getting buried. Now it's like a lich. Is that how you say it? Yeah. That's one way to say it. It's like an undead, reanimated corpse. Well, how many zombie companies are there in the United States? Something like 30% of the S&P 500 are companies that can't really afford to pay interest on the debt that they carry on their books from their earnings. They're technically zombies.

They're dead companies. They're the walking dead. And that's like a third of all the S&P 500. They're just kept alive by free money printing. It's just like money, money, money, money. What's Amazon just announced today that they're going to float billions of dollars of the bonds. Guess what? To do what? To buy back their own stock is what's going to happen. So here again, it's 0% money for some, which is incredibly dangerous. For example, when Amazon bought Whole Foods, it was accretive from day one. They cost them nothing.

They bought it for nothing. When Tiffany was bought by LVMH in Europe, they bought Tiffany. How much did they pay to buy Tiffany, a multibillion-dollar company? They paid exactly nothing because the European Central Bank lent them all the money they needed. The Central Bank to buy Tiffany's with no interest. They gave them Tiffany's as a gift. They're already the biggest luxury company in the world. It just kind of sounds like fascism. It's a corporatism. But also like it's important to point out that in the past year we've done fiscal stimulus. So since 2008 it's been um just federal reserve stimulus

and that's credit to the banking system so it's not cash this is cash this is what they've been printing the the trillions of dollars that the u.s government is printing that is high velocity real money that is what causes the big inflation yeah yeah right so so uh is this why you guys were saying buy bitcoin? Like back in the day? We were gold bugs in 2011. And then we were introduced to Bitcoin. And we immediately realized that this was digital hard money. I have a background in virtual currencies going back to the mid 90s. I created the Hollywood Stock Exchange, which created I invented a digital currency in 1996. I have a patent on that digital currency.

So I immediately recognized that this could do what we were trying to get that to do back in the mid-'90s. And so we went from gold over to Bitcoin, and it's kind of like when Dylan went electric. So we're going to have to come back to this conversation, so put a pin in it, because we've got breaking news. Lydia just pulled this up. This is from Bloomberg Law.

Is this from Bloomberg Law? Yeah. Gas stations running dry as hacked pipeline tries to restart. Yeah, yeah. We were worried, actually, on the drive up here, because I was like... Guys, we've got this little bunker, you know? We've got some hammocks, and there's beans, and we've got a lot of, you know. We'll put some cots in there. We'll get some hammocks. And there's beans.

That's right. And we've got a lot of MREs. Just because they're fun. Yeah, yeah. But do you have MRE gasoline? No. Can I put it in? I do have an electric car.

Okay. And my van is solar powered. So in the apocalypse, I can actually plug my electric car into the solar power from the van. And in probably about two or three weeks, you'll be able to drive the electric car. Well, look, this is a function of too much debt. So the infrastructure is breaking down. And before, up until a few years ago,

you had this just-in-time economy where things were logistically all connected. You had globalization. And you had this incentive to keep all these systems going at the absolute rock-bottom cheapest price and to not pay anybody anything in terms of a decent wage. But once the Thucydides trap kicks in, once the U.S. dollar loses its status as a world-reserved currency, then it reveals all the shortcomings in the system, and it reveals all the fragcomings in the system and it reveals all the fragility in the system. And there's suddenly no way to repair these infrastructure projects

because the money is being sent out directly from the Treasury to appease the rabble-rousers from staging an insurrection. I mean, this is what they do in countries where the population is about to insurrect, is they try to throw money at them to appease them. And that works for a short period of time. And then it doesn't work. So how much time do we got left? Well, every time you read a story like that, like, oh, you know, we ran out of microchips, so the cars aren't being delivered.

Oh, gas lines not being restarted, can't get gas. Oh, the price of food is not 40% of my weekly budget, right? You add all those data points up. And every day you get new data points. So it's tough to say exactly when the pot boils, but it's happening. But I say get ready for good times because this stuff has to end for the next generation to have their way, right? The night is always darkest before the dawn. Yeah, it's good for millennials.

Millennials are going to have a great century. Yeah, and the Generation Z who are like 25 years old now, the oldest ones. In terms of those microchips, you had been talking about cycles and the business cycle that used to exist when Max and I were your age. We had the business cycle. And the thing about the semiconductor chips is they never chips is they, you know, they never planned. Nobody expected the money printing, like the fiscal stimulus, right? So what happened is naturally these business executives saw a pandemic, saw global lockdown, and they canceled their orders. They said, we're not going to need those cars because we're on lockdown, right? Nope. They didn't expect the thousands and thousands of dollars to be thrown at everybody and everybody to go on a buying spree.

So there were backlogs. All these auto companies had canceled their orders expecting that things would be slowing down. And across the board, computers, phones, all that stuff, everything that uses a microchip, they were not expecting so much money. It sounds like there's two things I'm kind of hearing from what you guys are saying. The first is that there are people who decided the ship's sinking. Extract as much as you can before it goes down and bail yourself out. But the other thing is I mentioned the fascism thing because when you say the central banks are giving this money to Amazon amazon to buy whole foods or whatever it sounds like the government is surreptitiously empowering massive corporate monopolies to seize power totally it's not even the government it's a private corporation these these companies have no oversight the federal

reserve the bank of international settlements well because um this is why they say that the inflation is let's say running at 1.6, even though if you were to calculate inflation as you would do under the Clinton administration and without using all these hedonic adjustments, inflation actually right now is running 10 to 12 percent. That's the real number. 10 to 12 percent. That's what is really happening. Is that per year, per dollar? Per year. But now they say it's 1.6 percent.

So why do they openly lie? Because for two reasons. The COLA adjustments, the cost of living adjustments for Social Security, so they save about $70 billion a year by not paying out what they should be paying out because inflation is going high, the Social Security benefits. The other, but the primary reason, is that by saying that inflation is running low and claiming that there's deflation, they can justify lower interest rates that are near zero, which are what powers all the consolidation.

The Tiffany being bought, Whole Foods being bought, mergers and acquisition. And when I said earlier about infrastructure crumbling because of all the debt, to finish up on that point a little bit, it goes back to private equity, what private equity does. Private equity can borrow all this money at near zero percent, buy entire companies, entire industries, and strip out all the assets and keep the profits like Bain, the Bain Capital, Mitt Romney. That's where he comes from. We saw it in the movie Wall Street in the 1980s. They were doing leveraged buyouts, as it was called. What does that mean?

What is that? That means that if you have a company and you want to buy that company, what you can do is, and I was working on Wall Street when this really became huge, is that you can pledge the assets of the company that you don't own to borrow money. And then you borrow the money and you buy the company that you previously did not own. And now that you own it, you start to sell the assets off, the pension fund, the overfunded pension account, the real estate, fire everybody, and what's left, and you pay down the debt that you borrowed, and you keep what's left, which could be 100 million or half a billion dollars. That's

a leveraged buyout. And it was really pioneered by Mike Milken during the 1980s, because he wrote a paper when he was at Wharton, he figured out that the lower-grade debt outperforms high-grade debt. So he said, you know what, why don't we just do original issue, low-grade debt? So Ron Perlman and all these other corporate raiders that they were known, they went to Mike Milken. They borrowed billions. They did leverage buyouts. They bought these companies, and they sold – they stripped them. They sold all the assets, and they became billionaires. Well, over the last 30 years, that's become bigger and bigger and

bigger. And so the private equity market, like Warren Buffett is essentially a private equity firm. He doesn't invent anything. He doesn't do anything. He never worked a day in his life. He just borrows money cheap from the Fed, strips companies. He's an asset stripper. That's all he does. And he's overrated as a performer. If you take out the bailouts from the Warren Buffett performance over the past 30 years, he wouldn't be beating a money market fund. He's the most overrated money manager in history. So people like to say when we're talking about IRAs or metal or Bitcoin, this is not financial advice. The first thing I want to ask you a question.

I haven't given any financial advice on this program, Tim. So I just wanted to ask real quick, why is that? I would never do that. Why would people say this is not – why do people do that? Because you have to be licensed to give financial advice. And so people can interpret what you're saying as advice? Is that what it is? Yeah, because then they could claim that you were offering advice and they lost money, let's say.

And then you're saying, okay, you gave me unlicensed financial advice. But you've mentioned that people should buy Bitcoin, haven't you? Yeah, because I'm saying Bitcoin is a substitute for gold and it's a substitute for the dollar. This came up recently because a lot of journalists are saying they don't write about Bitcoin because they consider it to be a conflict in some way because they don't own Bitcoin. They wouldn't own Bitcoin and write about Bitcoin, etc. But we're talking about a substitution for the base layer of money from dollars to Bitcoin. So it's not a financial advice. It's about advice about how to reconfigure the entire economy, the United States economy, the global economy on a Bitcoin standard.

And so we've been saying this since it was a dollar back in 2011. And we also talked about gold. If you talked about gold. If you talk about gold, gold is an intricate part of the global financial picture. So countries buy gold. The central banks own 30,000 tons of gold. You talk about gold, you can say you own gold. It's an inflation hedge. Here's a way to inflate against inflation is gold.

So Bitcoin is the new gold. It's digital gold. It started in 2011 when we talked about it. So we're making that point that this is what it is, and that's what we've been saying. The reason I ask is because you mentioned inflation was actually at 10% to 12%. For real, yeah. Which shouldn't that make people act as though their pants are on fire, kind of freak out? That's scary.

They should. The price of Bitcoin at $55,000 per coin is telling you that the U.S. dollar right now is in a hyperinflationary collapse against Bitcoin. That's what the price is telling you. Bitcoin is really the only market in the world that's allowed to trade freely. You don't find good price discovery in gold. You don't find good price discovery in bonds. You don't find good price discovery in stocks. So those markets are not telling you anything.

The markets are rigged. Whereas Bitcoin is a freely traded market. It's telling you something for real, that the U.S. dollar and the fiat money world is in a hyperinflationary collapse right now against Bitcoin. That's what the price is telling you right now. That price should be alarming to people. It's not driven by speculation. It's driven. It's not the bubble, Tim. It's the pin. It's not the driven. It's not the bubble, Tim.

It's the pin. It's not the bubble. It's not the bubble, Tim. You ran out of my money. Here, put some back in. So it's not. I wondered this. Bitcoin isn't going up.

The dollar is going down. Exactly. That's freaky. I think it's both. A little bit of both probably. Well, I say people say Bitcoin is volatile, but it's not volatile. It's actually just reflecting the chaos in the fiat currency markets. It's a reflection, a true reflection.

It's a true mirror of what's happening in the fiat money world. It's not volatile. The dollar is volatile. The dollar is in deep trouble for multiple reasons. And once you lose world reserve currency status, you're talking about real inflation where food and energy goes up, doubles and triples.

You guys mentioned derivatives. So hold on real quick. That means if someone, we're talking about regular Americans, maybe people listen to this show, they've got a savings. Maybe they've been working, they've been saving up a little bit

as much as they can through the pandemic. Maybe they got a thousand bucks. Right. Over the past six1,000. Right. Over the past six months, the value of that $1,000 is now the equivalent of like $100 or $200 before it, like the year before. Yeah. So you can't buy as much gas with it. You can't buy computers anymore. You can't buy anything with it.

That's right. And if you can't do anything with it, it's not particularly valuable. But if in November, early November last year, what was it, Bitcoin? That was like $10,000 or like $13,000, I think. Yeah. And now it's at $60,000. Yeah. So what was interesting is I was reading an article about the price of lumber.

They said $10 worth of lumber last year is $60 today. Right. And I was like, that's really interesting how it's very similar to the increase in the cost of Bitcoin. That's right. Meaning the dollar is probably tanking. Exactly. That's exactly right. The lumber is a proxy for how bad the dollar is doing, as are these other commodities.

Isn't this good for the ultra-wealthy? It can be. Well, typically it is because they are invested in assets that do well in inflationary environments. So that's why Modigliani would cost $200 million. That's why somebody paid $400 million for a Da Vinci. That's why Bitcoin is $55,000 to $60,000. But the thing about Bitcoin is that it's accessible to everybody around the world.

Access to a telephone. You don't have to go through the gatekeepers. It's funny that now UBS or J.P. Morgan are now offering Bitcoin to their high net worth individual clients. And they're going to charge a big fee. Didn't Jamie Dimon just rag on it for a decade? He still rags on it. But they are offering it charge a big fee. Didn't didn't Jamie Dimon just rag on it like for a decade?

He still rags on it. But so but they are offering it to their high net worth individuals who aren't smart enough to buy it on their own. They're not smart enough to buy it on their own. Rich people rarely are smart. That's one thing. They don't want to take the risk. I've noticed, you know, individual sovereignty is quite difficult. You have to it's not easy to learn how to hold your own Bitcoin. So they want to sue somebody

if Jamie Dimon loses it for that. Yeah, and the infrastructure of the financial markets in terms of custodianship and things like that that are important for the workings of the day-to-day financial

are being put in place to now embrace Bitcoin so that banks can have proper custodian of these coins and companies like MicroStrategy run by Michael Saylor can put $2 billion into it, and legitimately so. Doesn't this also mean that people's debt is going down in value as well?

Say, for instance, if you owe $10,000 on a car and now hyperinflation hits, everything's more expensive, you still only owe $10,000. Yeah, well, that's why the government keeps printing, because they don't want to pay their debt. They're trying to inflate their way out of their debt. There's only two ways out of the problem. One is to keep printing, as you just eloquently said, or two, allow for a default.

In the 1930s, you had a deflationary depression. There was a default. Whereas in Zimbabwe or Weimar Germany or America today, it's an inflationary depression. And it's because the powers don't want to give up. They want to inflate their way out of this because, as you point out, if you have a lot of assets, the value of those assets are going to keep skyrocketing along with Bitcoin. But a lot of other assets are like, obviously, if you have a massive lumber or things like that. But for the average person, though, they don't have assets. So they simply see it reflected in the price of living and for food and energy.

And so their quality of life, it will take a severe drop. It's been pointed out that in the Weimar Germany, you saw speculative attacks essentially from the wealthy against the Reichsmark. And that is that they used their leverage and their ability to borrow and racked up huge amounts of debt in Reichsmark and bought things like corporations, land and property. So that did happen from some industrialists in Weimar, Germany. And you could say that is happening today as well, that these corporations and wealthy people, that's why Amazon is borrowing tens of billions of dollars right now because they can and they're going to buy assets.

Right, they're going to buy assets. They're attacking the Fed. They're attacking the country. Wow. Right? They're attacking the – essentially it undermines the dollar. It's not like they're gonna buy assets they're attacking the fed they're attacking the country wow right and um they're attacking the essentially it undermines the dollar it's not like they're going out and saying i'm gonna take this dollar i'm gonna rip it up they're like uh we see what's coming uh an industrialist is going to know because they see the input cost they see the cost rising they understand i think this is why we saw so many billionaires defend china

we saw what do billionaires defend China. What do you mean? Well, when the Hong Kong thing was going on, a lot of industries and a lot of ultra-wealthy individuals were like, come on, leave China alone. We shouldn't. Well, it's just like what we were saying earlier about everything running on COBOL. It's like our just-in-time delivery chains, you know, our supply chains, it's like we can't unwind it. And that would be the equivalent of them saying, okay, we have to reset and start a whole new thing.

Like the supply chains, they can't reset it like that that fast. So they can't say anything, right, because otherwise the whole thing will fall apart. I mean, I have to wonder, you know, they're doing this unemployment thing, right? Yeah. $16 an hour equivalent to not work. Do you get it? So when asked, Joe Biden and Jen Psaki were like, no, that has nothing to do with why we're seeing 7.4 million job openings, but only 266,000 jobs filled.

I think it's pretty obvious, right? People being paid not to work? Totally obvious. She's lying through her teeth. It's completely obvious. And the thing about it is you've got a lot of people in America now know what it's like to live like a hedge fund manager. Do nothing and get free money from the government, buy assets, buy stuff, and do nothing. That's the way a lot of rich people, they just get like, again, Buffett or some of these other folks.

They are literally welfare bums. They just get free money from the government, and they don't do anything. They don't add money from the government and they don't do anything. They don't add anything to the economy. And so a lot of people are saying, you know what, now that I live like Ken Griffith, who's a hedge fund manager at Citadel, who puts Ben Bernanke on his board of directors, who gets involved in the GameStop fandango, who gets bailed out and uses the money to bail out his subsidiary, Melvin Capital, from the money he got from the government to bail out the year before. And then does nothing for it. People are saying, that's the way I want to live. I want to get free money, too, and live like these hedge fund guys.

I don't want to work. Is perhaps the GameStop rebellion, as it's being called, the first sign of an actual insurrection against the system? GameStop is like Occupy Wall Street, but deeper. So Occupy Wall Street can never get inside to side the system. The GameStop Reddit guys got into the system. They recognized that GameStop stock had been their counterfeit sales of many shares that didn't exist.

The birthday were being sold. Naked short selling. Naked short selling. So they knew that they could bid up the price and put the short squeeze on. That's amazing. I love it. It is activist. It is like what we call the global insurrection against banker occupation,

JABO. So it's a worldwide phenomenon because the bankers are everywhere. They're doing the same thing everywhere. And all the central banks are working together. You know, when they say in the U.S. and J-PAL will say, oh, you know, actually, you know, rates went up a little bit six months ago and we reduced our asset purchases by 2%.

The fact is on a net basis, when you look at all central banks, all the major central banks around the world for the last 20 years, there's never been a one single day that they haven't expanded their balance sheets and done net purchases of these assets and built it up. But the GameStop thing is working within that system. Gold works within that system gold works within that system like that's a you know relentlessly pessimistic sort of doomed system where these uh you know the command and control people in charge of our economy they'll they'll never let anybody fight back they'll never let you protect yourself and then you see until it just falls apart and they will destroy you but bitcoin fixes that bitcoin allows you to just exit the system.

As Christine Lagarde warned recently, she said we must stop Bitcoin because it's an exit, an escape valve from our system. Wow. So, you know, she's telling you the truth. and you become relentlessly optimistic as we are in our telegram group over at Orange Pill Podcast. You know, we, you don't need to be, are you looking at my, you know. I got my Christian Lagarde. Oh, my plan was like, I thought I looked like Clint Eastwood

with my poncho. And then I realized Clint Eastwood doesn't really, you know. Oui, je suis Christian Lagarde. Je suis chef de SCP. poncho and then I realized Clint Eastwood doesn't really you know Do you have a question for her? She's asking I'm busy handling the audio That's like my life Do you have a question for her? She's asking. She's asking. Should I buy Doge?

I'm busy handling the audio. Yeah, that's like my life. I'm sorry. I think Doge is the next step of the rebellion. What we saw the last two months is people. It's basically like GameStop. People just game the system. I don't think it's a good coin, but I think it's an example of people unionizing.

Hold on. I want to talk about the rebellion. We mentioned GameStop rebellion. Bitcoin is the only rebellion. GameStop is not a rebellion. It's just like within the system. They control the system. They control the SEC,

the stock market, all the stuff. Look what happened. Can't they just short sell GameStop when it goes up again? What happened? Robinhood stops your sale, right? So they control that system. And you play by their rules.

You know, the house wins. Robinhood was, I guess they were threatened, right? Like Robinhood the company was told. Robinhood gets their primary source of revenue from Citadel. And JP Morgan was there. And JP Morgan, they buy the order flow from Citadel. And J.P. Morgan was there. And J.P. Morgan. They buy the order flow from Robinhood, so they shut them down to protect Melvin Capital, a subsidiary of Citadel. So it's an all rigged situation. Totally rigged.

Well, let's talk about the next thing that we're seeing. This is – I got to admit, I saw this story and I'm laughing. Quote, we all quit. Restaurant signs claiming staff walking out are popping up across the U.S. These tweets are something else. There's on Chipotle, on Burger King, on Wendy's, McDonald's signs being like we're closed because no one shut up today. There are signs people putting up saying we refuse to work for such little wages. Right. And there's a couple of things.

For one, we know Biden is basically paying people more money to not work than they could get from working. Yeah, sure. but also inflation. So if people – you mentioned earlier that people, 40 percent of their weekly budget is going to food. So if you're working at a fast food restaurant, it doesn't matter if you're getting $15 an hour or $20 an hour. What matters is how much food can you afford to buy at the end of the week. They could pay you $1,000 or $10,000. But if your food costs $4,000, $10,000 doesn't mean anything. That's exactly right. I mean, if you can keep getting your wages raised,

but the price of food goes higher than they're raising the wages, you're getting a cut in pay. So that's what happens in Argentina, Venezuela. That's what's happening right now. They keep printing like mad, but they can't control inflation and the policymakers will say there's no inflation because their banking constituents want that zero percent money to keep consolidating and mergers and acquisitions and leverage buyouts so they say it's at 1.6 percent even though it has a patent false but but the supply the supply situation is going to be something we can't hide so you have the shortages of all these microchips that's affecting all sorts of the economy.

The problem with labor is a real genuine problem. And just on the drive up here, we saw hundreds and hundreds of signs all over the place begging people to come apply for jobs, even in the middle of a field. Like there was a sign, Domino's is looking for drivers. And a sign advertising for Domino's jobs. Even in the middle of a field, like there was a sign, Domino's is looking for drivers. Yeah, a bunch of cows and a sign advertising for Domino's jobs. They're going to

hire cows? What's going on? Ian, order more vinegar. We got to start buying whatever we can. Yeah, yeah. People start hoarding, which then feeds in a inflationary cycle. Then prices go up because But I'll get the vinegar first. I just bought 150 pounds of flour. No, no. I already bought you 100 pounds of flour hey i got 150 more but it's that it's that sort

of mindset the mindset the psychology is what is really important to hyperinflation or whatever i mean but the other point i want to make is like i was just uh retweeted a story a day or two ago about um in durham north carolina which is a pretty big city outside of Raleigh, and they can't find 911 operators. So they're having to divert. They had to admit that they've been diverting calls to Raleigh overnight because there's, you know. The economy's been hollowed out, right,

through private equity deals, cheap money, borrowing, and debt. So it's been hollowed out. It's just a shell that's cracking in real time. All that money was stolen. Trillions stolen, stolen from the economy, Tim. It's fragile like an eggshell is cracking. The people are now on the streets and the revolution is in the air. So you guys have seen The Wolf of Wall Street.

No, I never saw it. You never saw it. But Max worked on Wall Street during those times. So this was like in the film, you basically have a bunch of coked out, drugged out Wall Street guys being like, yeah! Stop talking about Max like that. And they're just like – I'm not selling. They know that they're – yeah, I'm not selling.

I'm staying. But it's like these people know that they're ripping people off basically. Like they're just extracting access to resources and value from a system without providing anything to it that's right wall street my job on wall street it was a microcosm of the economy as a whole so the byword as a stockbroker is do whatever you can to get commissions and we've got lawyers there there's no such thing as the rule of law on wall street. You get the commission first, and if the feds come after you, you deal with it later. You pay the fine.

You pay fines. You know, Wall Street keeps 90 cents of every dollar they steal, right? Ten cents goes to the fines. Or the great thing about Wall Street is that they just changed the law. For example, when Citigroup bought Travelers, it's a big multi-billion dollar deal. They broke the Glass-Steagall law that had been in place since the 30s. They simply retroactively changed the law

and said we're going to change the law and it retroactively applies to that deal. There is no rule of law on Wall Street. Full stop. I think it's just the rot goes deeper than this. Have you guys ever seen these things? They're called like power bracelets or balance bracelets.

They're rubber bands that they sell for like 30 bucks. And they tell you, they say when you wear it, it improves your balance. And they use a trick called the center of gravity illusion. It's really simple. You ask someone to stand with their feet together and their arms straight at their sides. You then put your hand on their arm and pull downward slightly away from their body. They'll fall over. Then you put the wristband on their arm and pull downward slightly away from their body. They'll fall over. Then you put the wristband on their hand, and then you push slightly into their body, and they won't fall over. But you can actually hang because you're pushing towards their center of gravity. Salespeople, I would see them in these malls. They'd be doing this trick.

And I'm thinking to myself, I know how the trick works. You could do it with a rock. You could do it with anything. How are they getting away with selling rubber bands for $30 and lying to people? So I looked it up. It's very simple. Someone will start a company. They'll knowingly defraud people.

The FTC would come in and say, you got to pay us $5 million. And they go, oh, no, we only made $10. Here's your $5. Here's your cut. And then they take that money, and they do the same thing with a new company, a new entity, and they sell trash products, pay their fine, start a new company, trash products, and they get destroyed, shut down. But the government is getting a cut of it. So instead of actually policing these companies and saying, stop doing this, they're like, so long as we get money, I think we're good.

It's called the captured regulator. Yeah. So the SEC and Elon Musk proved this brilliantly when recently he broke some laws and he openly mocked the SEC. How about Austin, Texas, when they banned Uber because they were losing money on the drunk driving tickets? Wow. We want people to drunk drive because the police made so much money from it in the city. So revolutions in the air. The system has been hollowed out.

We've been extracted. You mentioned derivatives earlier. What was the history of the creation of derivatives? Because that seemed like part of this hollowing. Right. So derivatives go back to the option pricing formula for volatility that came around during the early 80s. And under the Reagan deregulatory environment, you had listed options. So listed options are essentially the first derivative and product.

And so this is simply an option on the future price movement of a stock. And it's a big market, the options market. And then during the 80s, they introduced financial derivatives. Up until then, it was confined to stocks and commodities. So the futures contracts, you could say, is a derivative. So futures contracts have been around for hundreds of years. It's a way for agricultural companies to hedge against the weather, right? So they can sell their product today to a speculator,

and therefore they don't have the risk of their product arriving to market and losing everything because they need it to plant the next season. But with the financial derivative, you had the S&P futures and bond futures and money market futures and forex futures. So it gave banks the way to speculate on money itself in a highly leveraged way. And that was the beginning of financial derivatives. That's the beginning of when we have a global Ponzi scheme of banks essentially trading on inside information with each other on financial shenanigans in a way that was incredibly leveraged. But you're right in the sense that at some point the derivatives market became bigger than the underlying market.

Right. So the derivatives market should only be a fraction of the underlying market. To give you an example of this, in the oil market, for every barrel of oil, there's something like 60,000 barrels in oil derivatives, right? That's how leveraged this whole thing is. For the global economy, which is, let's call it, $100 trillion global economy, there's more than a quadrillion in derivatives, right?

The derivatives market is a multi-quadrillion dollar market. So an example of that would be like if a company loses $6 million in assets or something, but people bet on that, they can make $60 million on that $6 million loss in a derivative? Well, one great milestone in the derivative business was the credit default swap invention by Blythe Masters.

Remember the Exxon Valdez oil spill? Oh, yeah. Instead of Exxon suffering financial calamity from that, Blythe Masters invented the credit default swap, where she was able to strip out bonds from bond interest and sell the interest separately, essentially, and insulated Exxon from that disaster. So they took the event, which would have been a liability, and they turned it into a non-event effectively. Wow.

So that's just what we call financial engineering. And so you could say that it's a way to slice and dice securities into all different things. If you go to 2008, the subprime crisis was a derivatives crisis because they took subprime mortgages, which have a high probability of defaulting, and they mixed it with a AAA-rated government bond. And then they sold that mixed package as a tranche to a pension fund with the idea that, well, the probability of this collapsing is so minute that we're going to give it the same rating as the bond, a AAA rating.

This is like the housing crisis? Yeah. So what happened was for the first time in history, you had a housing crisis over the entire country. And so the subprime market collapsed spectacularly. And instead of fining or penalizing the banks that package this garbage even in testimony they told congress that these were bags of expletive that they were selling to the goldman sachs not only did goldman sachs knowingly and openly sell bags of expletives to clients excrement

yes excrement they then made bets against their clients knowing that the clients would blow up. So they made money on the short side. They sold their own clients short to make money on the collapse of the client that they knew was going to happen because they had sold them the bags of excrement. So that's how insidious and awful and corrupt this whole system is. It's kind of like encouraging your wife to go skydiving and then taking out a massive life insurance policy on her. Right. And then selling short the airline company and the skydiving company knowing that they're going to be sued out of existence. I have to also point out that, you know, while we're talking about inflation, this is the thing that's so topsy-turvy about everything and why we have such a chaos in our economic system is

those derivatives are collapsing, and that is a black hole, and that is a huge amount of deflation, right? So if that's worth nothing, but it's right now on paper worth a quadrillion, that's a lot of money. That's like many, many, many, many, many, many trillions that we'd have to print every month just to break even on that right so the central bank has bought now trillions of dollars worth of this paper from wall street eight trillion eight trillion dollars that they to re liquefy wall street but that's just a small fraction of it right but they buy it at 100 cents on the dollar

but when you say okay what's the resale value it's zero so the federal reserve bank has leveraged more than 100 to 1, which is they're leveraged more than Enron. I mean, Enron was leveraged 80, 70 or 80 to 1, and it collapsed in a day. The Federal Reserve Bank has leveraged much more than Enron was leveraged, and it could collapse overnight. But that's the problem with whether or not it's inflation or deflation,

and this is a debate. This is a debate that we've been having on all of our content for the last 15 years. Like nobody, economists, bankers, nobody knows for sure which one we're actually having. So I want to say one thing. I want to read you this next story. I think you're both wrong. I think Dogecoin is incredible. I think Dogecoin is – no, you're incorrect.

It's Dogecoin. You want to know why you're wrong? Dogecoin. Dogecoin has just made a bunch of people who don't pay attention pay attention. And if in the end they trade Dogecoin for Bitcoin, it's better, isn't it? No. You don't get the attention it's generating? I've been in this business for 10 years, and no one knows more about it than I do.

And it's a gateway drug to getting wrecked so people think that they are smart enough to trade altcoins in a way that they're going to get more bitcoin or they're just going to be in it for a minute but the fact is that once you step away from bitcoin you're entering the gambling casino so it's the same if every go to vegas and you go across the the room with all the slot machines and you ask 100 people if they're winners in Vegas, the 100 people say, yeah, I win all the time. I'm a big winner. They're sitting there with a smoke and a cigar, you know, with threadbare with nothing on their back. And they're like, I've been winning in this for years and years because the gambling mentality is such you convince yourself that you're going to win at this gambling thing.

So that's number one. But I do. And number two, the projects themselves suck. They're all centralized garbage. Bitcoin is decentralized. It's a big difference. And you can't compare the two. I'm not saying Dogecoin technologically or their infrastructure, their code.

I'm saying a bunch of regular people, young people, who had no interest at all in any capacity with cryptocurrency all of a sudden now the door was opened to at least walking into the room and if at the end of it 10 of the people or one percent of those people who normally would never be involved are like i'm gonna buy bitcoin with it because that that's that's that's the real asset so they bought some dogecoin as a joke it went went up. They went, whoa, they sold it. Then they got Bitcoin instead. Isn't it better?

Bitcoin is the house and everybody else are the chumps on the floor. So I own Bitcoin. If somebody wants to go into the speculative world of gambling on Dogecoins, ultimately all that capital, the size of the market is expanding,

right? So it's a $2 trillion plus. And that means that ultimately more money will flow into Bitcoin. Bitcoin goes through cycles. And right now it's going sideways and it's building a base. And then it will make a big leap again. And then you'll see a rotation out of all these altcoins into Bitcoin. And a lot of people will get wrecked. And also when you're trading in those altcoins, there's all kinds of tax liabilities you have to be aware of,

it's just not worth it instead of just huddling. Huddle! Huddle, baby! Huddle! That's what it's all about! Don't make me get undressed, Tim! Don't make me get naked on your show! Please don't get undressed. I'm not saying Dogecoin is better than Bitcoin. I'm saying Dogecoin as a marketing campaign

got a bunch of people to finally know what crypto was. They're going to get wrecked. So people who bought it last week on the Elon Musk Saturday Night Live at 72 or 74 cents a coin, they're sitting on 30 or 40 percent losses today.

And they're wondering, what the heck am I going to do? It's going to scare a lot of people out. The answer to the arithmetic of losing, the amount of percent gain you need to break even once you lose 10 is more than 10 right so uh you know you and then you what happens is you tend to to trade riskier projects as is today there's another coin that's a dog coin right so now that had a rally today so a lot of people who lost 30 on doge in the last week are going to be i'm going to make it back on this other thing which is even more ridiculously

so they end up with zero let's let's let me ask you about bitcoin though if for one there's a finite amount of bitcoin it's going to it's it's not they're not going to complete the 21 million coins until when do you know what another 100 years another 100 years yeah so if if look we i was talking with some uh some of the people TimCast earlier, and one of the suggestions was like why don't you buy – like do a video where you buy something big with Bitcoin. And I was like because I'd rather have the Bitcoin. Why would I give it up for anything? Tesla says you can buy a Tesla with a Bitcoin. I'm like I'd rather have the Bitcoin.

It's like why would I spend a million dollars on a $50,000 car? Bitcoin is going to hit a million bucks. And I think it's going to be a lot faster than most people realize. So I guess the challenge is right now, should hypothetical people who are working just be buying as much Bitcoin as possible but keeping some of the fiat for regular use, rent, food? Because you don't want to spend the Bitcoin. You want it for later, right? Yeah, that's right. At what point are you like, okay, now I can spend Bitcoin?

When it becomes greater parity to gold. So gold's worth about $10 trillion, let's call it. Bitcoin's worth around $1 trillion or so. When you see Bitcoin trading at parity to gold at around $500,000 a coin or $10 trillion worth, then I think it'll be transitioned from the only store of value to store of value and medium of exchange. It's not really a medium of exchange as such, although on what's called the second layer with Lightning and other applications built on top, people are using it for transactions

every single day. And a lot of people who do transact in Bitcoin that might spend Bitcoin, let's say $1,000 worth of Bitcoin, they'll immediately buy $1,000 to replenish that. A lot of people, the most intelligent thing you can do is dollar cost averaging, which is just every single day or every week or every month, you simply put in $10, $100 or $1,000 into Bitcoin on a regular basis. You know, we work with, I think you know, Swan Bitcoin is a company that specializes in this. And we work with them pretty closely. I got an email from somebody, somebody who was a wealthy individual who had a trust, like a wealthy family.

And they were talking to their financial manager or whatever, saying, we need to start putting our assets into Bitcoin. And they said, absolutely not. We won't do that. And so the email I got was very upset. Like, what are we supposed to do? Well, that's understandable. The establishment in these markets don't want the competition, and they don't want people taking money out. Because once a lot of people understand that, the saying goes, not your keys, not your Bitcoin.

You take the keys off these exchanges and these products, and so you're taking money out of the system. So for if you're somebody whose business is accumulating assets under management, AUM, and that's a negative for you because people are taking all their assets off and they're putting into cold storage. And so they don't want that competitive thing going on. And the amount of money made on selling products is enormous. And there's no fees attached. It's free to store, essentially. So they don't want the competition. But that is changing quite rapidly. As Paul Tudor Jones, a very famous hedge fund manager, said, he believes inflation is here. And he owns a lot of gold. But he says Bitcoin is the fastest horse in the race. How long until you think Bitcoin reaches half a million?

Well, I've got a price target for 2021 of $220,000 per coin. Why? What was that number? Based on the halvings that we've had every four years. We've had three halvings. And typically you see these types of price moves in the year. You can track the pattern. Yeah, that's cyclically what we see.

What's the habit? So one second. Has the price tracked as you've predicted it thus far? Pretty much, yeah. The first quarter, it did very, very well. Now it's kind of going sideways. And I think we're going to see in the second quarter another breakout move to 70, 80, 85,000. So I've known you guys for a decade,

and I told you the story of Bitcoin back in 2011. I was at a hackerspace in L.A. It was called Crash Space. I was hanging out with my friend Jeff, and I worked at my computer. I had savings. I had about $5,000 in savings. I had worked.

I had saved it. I'm never going to touch it. It's my rainy day fund. It's like I'm very proud. I was like 24 or something. And I saw Bitcoin. So the Bitcoin Faucet.et for those that aren't familiar there's a website that literally just gave you free bitcoin it was 0.05 i believe could be wrong just randomly like there you go here's some because it was almost worthless so i look at my friend and i'm like should i just buy

a bunch of this bitcoin thing because i'm just saving this money it's sitting in a bank you know i gotta pay fees or whatever why don't i just buy this bitcoin and It's sitting in a bank. I got to pay fees or whatever. Why don't I just buy this Bitcoin? And he goes, ah, nah, dude. It's probably a scam. You're going to buy it off some dude, and then it's going to become worthless. And I was like, yeah, I guess not. And so I was actually, no joke, sitting there about to buy like 7,300 Bitcoin. It's at 70 cents. And then I remember when it went up to five bucks, and I was like, oh, man.

Remember when I – Jeff, when you told me I had to buy it? Then it hit $20. Same story. Then it hit $500. Same story. And what's funny is – so I remember when you guys were promoting Bitcoin like crazy, and I was just watching it like, yeah, but now it's at $5. If only I had bought it with a dollar. Now it's at $60,000, and I'm like, why didn't I listen to Max?

Well, that story is the exact same story that Peter Schiff has experienced. Yeah, but he's still not buying it, right? I told him at $60,000. And I'm like, why didn't I listen to Max? Well, that story is the exact same story that Peter Schiff has experienced. Yeah, but he's still not buying, right? I told him at $1. I told him at $10. I told him at $100. I told him at $1,000. I told him at $10,000. And he still won't buy it. He's still anti-Bitcoin. He's still saying the same silly things over and over again. So it's not a common story. I was buying though. So I'm like, man, I should have bought. I'll buy some. I'll buy a little bit. But I never went gung-ho. I never went full in.

I just bought a little bit here and there. Like, eh, well, I'll just have some. Yeah, well, it's never too late. You know, it's going to continue to go up. You know, on this financial advice question, it's like we're setting the table. We're saying, look, here's inflation. Here's your options. Here's what people are saying.

You know, and make your own choices, do your own research. But it's a very compelling story. And given what the track record has been, and nothing we've said that would happen hasn't happened, pretty much. We've been absolutely spot on in predicting the last 10 years pretty much every major turn in the global economy. I'm definitely going to be buying more Bitcoin. But what do you uh bitcoin what do you think about ethereum though it's centralized garbage you don't like ethereum shit oh nah it's fine well so i'm not going to pretend

that ethereum is the same thing as bitcoin i think no it's centralized it's it's got it's the transactions are reversible they've reversed transactions before 60 pre-mine is the it's an exit scam or vitalik and those guys are just dumping coins whenever they feel like it. Wow. It's not robust at all. It's buggy. It's never been – nobody knows how many exist. If you say, well, you can't run a node.

What is it? Ethereum. Exactly. What is it? Like what's the point of it? So there's applications run off of it using ERC-20 tokens. Why not use Microsoft? Why not use AWS?

Nobody can run a node. It costs too much. It's all hosted on AWS. That's true. So do you think AWS is going to listen to Vitalik Buterin, or are they going to listen to the Treasury if the Treasury contacts them? No, I agree. So I think I view Ethereum as very, very different from Bitcoin.

As more of like an investment into a company. As opposed to Bitcoin. And there are a lot better companies then to invest in. I don't know. The returns have been ridiculously good. But if your objective is to everything that Bitcoin offers, and as we've discussed about it, and that's your objective, there's Bitcoin.

If you want to get involved in something called Ethereum, which is some software that is buggy and it's centralized and it has a track record of malfeasance, that's an option people might want to make. I want to be Medici. I want to be my own bank. I want to be the central

bank. I want to have my own country within me. Ethereum doesn't give that. No other coin gives that. Just Bitcoin. Are you saying you've invested in nothing other than Bitcoin? That's all we do. Nothing else. You guys should create your own coins.

No, you can't. As soon as there's an individual who can be identified and that person can then take the coin down. The treasury contacts you. It's centralized. I think the future of currency is like, you make MaxCoin, StaceyCoin, IanCoin, TimCoin.

No, it's not. Well, hear me out. No, I had a question I asked. You guys are not investing in anything outside of Bitcoin. No, we have Bitcoin. We have invested in Bitcoin startups, like, for example, Kraken, which is an exchange. When it was $5 million, we invested in it.

It's now worth $10 billion. SwanBitcoin.com forward slash orange pill. We finance them. But no, like, regular stocks of, like, you know, blue chips or 2500s or anything? No, because there's a couple of interesting companies that are Bitcoin related. So MicroStrategy has a big Bitcoin position. Square, which is Jack Dorsey's company, is really on the Bitcoin vanguard. So I have positions.

I have small positions in these companies that have Bitcoin related investments. And what year was it? Was it 2012? I was hanging out with you guys and I was filming for some show. Yes. And you guys, you were filming some guy,

some rich guy, and he was like, you got to buy Square and Square was like 13 bucks. Yeah. And so I was, you know, I was mostly broke

and I was like, all right, I'll buy some. And I did not regret it. Oh, good. So I tell these stories about, I wish I bought Bitcoin, but the reality is

just standing next to you guys hearing you guys talk about Square. Right. And then what actually... And Square is up a lot. Oh, yeah. Especially from back then. Square is huge, yeah.

So for those that are familiar with when I went on the Joe Rogan podcast with Jack Dorsey, I said before we shot the show, like, I should do a disclaimer that I own some shares in Square. Not that much. Like, very, very little, because I was broke when I bought into it. Yeah. But now it's like... Yeah.

Well, we have some gold and silver from our gold and silver days, but we use it as collateral to buy Bitcoin. Wow. What do you mean collateral? Like taking out loans to buy Bitcoin? I use it as collateral. I just did that. That's awesome.

That's the way wealthy people do it, right? You don't want to pay taxes, because as soon as you sell anything, you have to do your capital gains. Yeah, we started buying gold at the 400 range. If you borrow against... So you go to a bank, what do you do? You say, like, hey, I want 100 grand to buy Bitcoin, and you buy Bitcoin in a month later? No, you go to do your capital gains. Yeah, we started buying gold at the 400 range. If you borrow against... So you go to a bank, what do you do? You say like, hey, I want 100 grand to buy Bitcoin,

and you buy Bitcoin in a month later? No, you go to a bank, yeah. You put up your gold and silver as collateral, and you take out a loan. So then a month later, because Bitcoin's just skyrocketing, you just pay back the loan, and then you got free Bitcoin? You pay it back out of your earnings, so you don't have to pay the capital gains, right?

On BlockFi, you can put crypto up as collateral. Yeah, it's a huge market, but you do have to give up your keys when you do that. It's not worth it. Don't go to BlockFi. If dollars are going down and we're like, man, this is bad, and Bitcoin is going up, this is great, and you can go to a bank and they'll say,

we will give you the dollars to buy Bitcoin, that seems like a no-brainer. Yeah. I'm not telling anybody to do anything. Gold and silver are going up and so is the Bitcoin. Wow. So my collateral is going up as well as my – What about property though?

Property is good, right? Property is a sitting duck because you have property taxes which are going to go up. And you can't – it's also not very – I think there's going to be – It's not liquid. It's not liquid. During bad times. When you have what I think is going to be a very troubling time and you need to move and leave, let's say, the country, for example, you can't really take your property. But you can take your Bitcoin.

You just need to memorize the seed phrase and you can go through the airport naked and you can have any amount of Bitcoin involved with you. But it's – I mean you want to have you don't want to just only have bitcoin right you want to have other things i'd imagine like you want to maybe focus heavily on bitcoin but i'd imagine well what happened over the last 10 years is that since the price went from a dollar to 55 000 it has now become uh dwarfed everything else in the portfolio we invest invest in yourself that's the best thing absolutely like better than any stocks or whatever because you know as as you see like somebody somebody like biden can come along and say okay capital gains is not 20 it's going to be 43 and you're like dude like exactly i i heard a great quote earlier today though they said um when when it

all hits the fan and a bitcoin is worth a million bucks yeah do you know how many bullets it would cost to get a to get a million dollars in bitcoin one right not necessarily not with a multi-sig wallet so you have a multi-sig wallet in cold storage then nope no not a bullets can get your bitcoin yeah yeah but you get the point you know well the the famous five dollar wrench attack. $5 wrench attack. Yeah, yeah, yeah. But I would say in an extremist, Bitcoin is probably the most secure because gold and silver can easily be confiscated by the government or stolen. And it's tough to insure and keep in a vault. Then you have your house can be taken away as the houses have been taken away.

Yeah, money can be canceled. Once you put money in the bank, you know, technically it's owned by the bank. You don't own it anymore. Right. So that can be confiscated. Unless they can read your mind. Right. So with Bitcoin, it's actually in a total breakdown.

It's the only form of wealth which is actually secure. How about all the money that police steal across America? Civil assets. And people always say, oh, what if electricity goes down? Well, actually, now Bitcoin is being beamed via satellite from Blockstream. So you don't even need the electrical grid to be working. You can set up a Bitcoin password that's just like a regular old password you remember, right? You can do, yeah.

So you can create a phrase that's really easy for you to remember but really hard for a computer to correct. Like a 12 to 24-word phrase. Yeah, yeah, yeah. So I always tell people, like, good passwords it's like a song lyric or something or just a sentence usually you get a random word generator which you can find online and they just generate random words but that's not better than it can be because the i believe in the security the best place to go for information about that is called Bitcoin.page, and that is run by Jameson Lopp, and he's one of the top security experts in the space. So I wouldn't take your security advice from us right now.

I would go to the top guy, Jameson Lopp, Bitcoin.page, and it has all the security stuff, how to create the best passphrases and all that sort of stuff. Yeah, yeah, yeah, definitely. Let's talk about the revolution. Yeah, let's do it. We got the story from Fox News. LAPD station firebomb attack caught on camera as suspect tosses Molotov

cocktail at building. Suspect taken into custody to LAPD Topanga Division Station, but motive unknown. That's just the story. It could be nothing. I mean, you guys have certainly heard of stories like this throughout your life. Right, you're seeing more and more of this. And with Bitcoin, it's peaceful.

It promotes love and it promotes community. Whereas fiat money, this is a fiat money story. This is what happens when you have an economy based on fiat money. This is what happens when somebody works for 80 hours in a week and then says, I need to pay my rent. And then a month goes by and he can't afford to buy food, even though he just worked 80 hours. It's happened. His money is literally just paper.

This happens when disintegrations happen, when the entropy happens within a system that you see it all the time, like like world wars happen. And it's not just world war. A pandemic happens at the same time. You see before the Renaissance at the end of the the dark ages you see bubonic plague you see the inquisition you see all sorts of stuff start to happen at the same time because we're vibrating as a culture and a people and things are going crazy we got we got another story i just got to read this officers fatally shoot man who rammed his suv into massachusetts police station da says

so this is just from today, this afternoon. The man managed to drive through the steel double doors. The officer shot the suspect. Appeared to be a man in his early 20s. After he got out of his vehicle and aimed what appeared to be a rifle at responding officers, no one was hurt. The man was taken to St. Vincent Hospital in Worcester, where he was pronounced dead. On Monday, the Worcester County District Attorney identified the man as Zachary Richardson a Leicester resident so I don't know if we have anything on this guy or

what his motivation was but regardless look we we see these stories and I think it's fair to say maybe they're just random attacks if we can't read the guy's mind we don't know but I think everything you've mentioned the signs we're seeing pop up at all these restaurants where people are refusing to work people are ready to explode. They're livid. And I really do think when you look at gas prices going up, there was this video, I retweeted it, where there's a guy. He's got a 20-gallon tank, $89, and he's like, yo, Joe Biden, what the? He's like, I'm ready to vote again.

And I'm like, well, look, the bill comes due. You print all this money. What do you think is going to happen? What's weird is that people seem to claim that the problem is what we could fall under the category of social justice. For some reason, the policymakers in Washington think the problem has to do with pronouns or something like that. Whereas the problem is the paper money. But they will never address this problem because they themselves are the chief beneficiary of the graft, of the grift, of the Ponzi scheme. I think you guys know this. Occupy Wall Street was legitimate

early on. You had conservatives, libertarians, the left, left and right complaining about the big banks. You had the Tea Party movement upset with the politicians. You had people ready to storm onto Wall Street angry. And then all of a sudden sudden within a couple of weeks the protest narrative started switching into white privilege uh progressive stack racial hierarchies

and i would be willing to bet um i'm not saying it's true that special interests were like how can we get them to stop pointing the finger at us introduce race politics make make the poor people point at each other instead of at the big banks the financial institutions and the corrupt revolving door policies of the government and then all of a sudden what happened conservatives started leaving the libertarians left right away and it became a woke fest where people were like the white people can't speak anymore and then people lost interest well look who's the most demonized of all in all of this the economic bottom the ones who have been harmed the most from this U.S. dollar reserves, from the Chiffin dilemma, from the Thucydides trap.

Like we've demonized that and they're called fascists and they're called white supremacist Nazis. You know, the ordinary. And it's like some truck driver from yuk or something yeah so they're the ones that are demonized because they don't want they want you to point to the victim as that's the person um that that you know rather than this economic system it's it's funny how many of these leftists who you know i used to i've known many of them selected by wall street they post this this this cartoon where there's three people sitting at a table. There's a rich guy with a big stack of cookies, a working class guy

with like two cookies, and then a poor person with like one cookie and he's like, that guy wants to steal your cookies to make them fight each other. And I'm like, how do they recognize this? And then simultaneously defend massive multinational corporations, cheer on the FBI and Joe Biden. It's like all of a sudden, the tribe was more

important than anything they ever protested. Well, you've got a good perspective on it because you kind of came out of that and so did Lee Camp. That's right. And so he is voicing these concerns every single day in his show. Luke Rutkowski, who we know.

He's a guy who was there with his camera and doing brilliant investigative journalism, on-the-scene journalism. You know, but everyone in the new media space or the alt-media space also marginalized, also pushed to the side, and for the same reasons. Because the light does not want to be shined on the actual underlying root causes of these problems. And so what we do is similar. They come up with that word alt-right. Yeah. We focus on the actual underlying root causes of these problems. And so what we do is similar. They come up with that word alt-right. Yeah, we focus on the money issue.

That's what we've been doing for 16, 17 years. And we've been saying this, and nothing we've said has ever been not been borne out by the truth. You guys said that the millennials are going to have a great century and that the Gen Z. But the fourth turning may be upon us. We're seeing people attack police stations. We're seeing police quit en masse. Are we not going to see a period of tumult, violence, and chaos before it gets better?

We have the cable news, which is different from back in the 1960s or 70s, but look at documentaries about when Max was like a little kid. There were like a thousand firebombings of government buildings from the Weather Underground and other

groups like that. The Sibonese Liberation Army. Like it was crazy back then. Was there multifactional violence targeting each other? No. They were targeting the government. But now it's people against people because of course we don't you know it's essentially the same coINTELPRO sort of situation.

You turn the people against each other. That's the best way to control them. So I've talked about civil war. And I always preface this with – it was a Princeton professor who said we're in a cold civil war. It was the Atlantic and New York Mag who mentioned that there are high probabilities. You have Thucydides' Trap. You have the fourth turning and what people need to understand about the civil war is that americans often imagine the american civil war as their reference for what civil war is it's not so we recently had someone who said if it happens here

it'll be more like syria you'll get maybe 24 or 30 factions totally unrelated fighting with the government and fighting with each other in areas and it would just be chaos and bombings and shootings and it kind of feels like hopefully i'll say hopefully doesn't happen but we're already seeing the seeds planted of this we're seeing various cells of antifa groups with different names they call themselves different things in different parts of the country but they coordinate with each other to go after mutual enemies you then have right-wing militia groups we we recently had in in portland an armed Portland an armed group of fringe leftists marching around with full blackout gear, body armor, a couple of them in full blackout with body armor and rifles,

and they were blocking traffic, essentially doing patrols. A guy gets out. They start banging on his truck. He tells them, get out of the way. They have weapons. They draw on him, according to him. So he gets out of the truck he thought he hit something someone goes in they smash his windows they grab one of his less lethal weapons

so he warns them he pulls his gun out at low ready and says the next person that aims at me I'm going to shoot he gets put in the hospital

with some serious injuries he's got two broken vertebrae so these groups are in Seattle and Portland it's getting nuts and you know people are on an edge this one guy got shot twice in the chest by one of these leftist guys and of course you've got right wing groups So these groups are in Seattle and Portland. It's getting nuts. And, you know, people are on an edge.

One guy got shot twice in the chest by one of these leftist guys. And, of course, you've got right-wing groups. You've got the people storming the Capitol. I think we're walking through the doors of different factions of disparate ideologies, some that agree with others and some that don't, ready for war by each other. Right, so the institutions that are the glue to hold the country together, the education institutions. Education has been destroyed by debt and being overpriced. So education is now no longer available to the masses anymore.

It's become a privileged amount for a few. And then you have health care became financialized, commodified, and it's unaffordable or it's totally messed around with. You have the infrastructure is breaking down. And all these institutions, why are they so fragile? Why did this all happen? It's because they've been hollowed out with these private equity groups in Wall Street using all the leverage buyout and the debt and the funny money.

And now we're seeing the reaping the whirlwind of 40 years of... And the scary thing is it's kind of like Belfast, what you're describing there. If you've ever been there and understand the story there. And it's still going on. Like you still see some stuff happening there, the militia groups. Max and I were there right during the G8, and Obama kicked us out of our hotel, by the way. We had to move to a different hotel. Luke Rakowski was there and filmed for us there.

And, you know, we went by they did up that street, one of the Protestant areas, loyalist areas. And, you know, they closed down the militia pubs except for it was, I think it was UDF at this one. It was like for sale. They were trying to clean up the militias and like after the Good Friday agreement. And there was a huge sign on the outside of this building for sale and right next to it. Handwritten, not for sale property of the UDF. So nobody bought it in the eight years it was for sale because they're like, OK, I'm not going to get firebombed by that.

But that's but they're like, again again like it's still going on the troubles are still going on it starts nominally with like protestant versus catholic and you know the queen versus like independent ireland and and the same thing here it's like it starts off like low key like msnbc versus fox and then it's like this weird movable feast that there's no one thing you could stick your finger on it's like changes what their ideology is and what the word that is a trigger word that's going to get you knifed in some alley. You know what's really scary to me is that two years ago I said things are going to get bad. And then a lot of things I said were going to happen. In January we had our friend Jack Murphy who comes on the show every other Wednesday.

I think he was our first guest. We talked about predictions for the year and we got some things eerily right. A bunch of fans of the show were like, look at these clips from your show in January of last year. That's freaky. And it's funny because it feels like we're frogs in a pot with the water slowly coming to a boil. As much as I've been talking about so much of this, it's like every day it seems like more and more is happening that makes it feel like we're actually we're in it and it's getting worse. And the scary thing is to realize we're not wrong. Well, it's media pressure. I don't know if it's necessarily getting worse or just seems like it's getting worse. That's definitely by design. They want us to think it's getting worse.

Well, we don't focus on the Federal Reserve. My Facebook page, which is a great barometer for me and has always worked well. And I like for 2016, I could see that Trump was going to win based on what I was seeing. I have like half my family is Democrat and like really Democrat and half the family is Republican and will only vote Republican. And of course, the Republican side are all military and police and the other side are all like academics and wiccans and stuff like that and um the the

the democrat side is like vicious now it's all it's impossible to go on my facebook page because if one of my republican family like leave a message like oh i voted for trump and it's just like an avalanche of all my like left-wing friends my democrat friends are just like you nazi and i'm like this is my facebook page is my family but what's scary is that those people can't explain themselves no and i i we talk to conservatives all the time who have i mean there's a wide range of political ideologies outside of this tribalist trump deranged and now without trump it's even creepier because i don't even know what they're mad about at this point. They're still so mad. And so like it's a it's a terrifying anger. It's it's the sort of anger where like you justify all sorts of stuff like with that sort of anger.

It's fascistic. I mean, these people are cheering on the FBI and George W. Bush. Yeah, that scares me. I know hackers from back in 2010, 2011, people I was hanging out with who were anti-establishment, people who were out in front of jails because their buddies had been arrested by the feds for non-crimes, people who had thrown parties, no joke, hackers who threw parties for white nationalists because they were hackers who were anti-establishment. These people today are cheering on the federal government. They're cheering for law enforcement. They're pro-establishment.

They're pro-Democrat. They're pro-Joe Biden. And I'm like, what happened to those people to where they've thrown away any semblance of principle or ideology and just said whatever the establishment says goes? Because they fear it's all going to be taken away. So he's talking about the elites coastal elites the media elites they never had a moment as they have now for many years where

people with pitchforks and torches are outside their home and they're protesting and they are frightened because it was very very cozy for decades to just be behind a wall and to be an expert or a pundit or part of the elite. And suddenly that's all being ripped apart and they are frightened to death. So they're calling the FBI and saying, I know that I protested you for years and I know that I'm against the invasiveness and the lawbreaking that you're committing along with the CIA. It's projection. But I'm not talking about rich people. I'm talking about people who slept on the ground at Occupy Wall Street. Yeah.

I'm talking about people who are like 20 years old, had 10 bucks to their names, had the system is broken, and were living on the streets, are now pro-establishment, pro-FBI. And so when the FBI raided Giuliani's office, I see all these posts from these activists, these hackers, and they're saying, they're cheering and they're celebrating and they're posting beer emojis and clapping. And I said, woo, go FBI, go centralized federal government law enforcement. And I was like, it's so great to see how you guys have been completely de-radicalized.

I was worried about you for a minute. Listen, it's projection. It's also, look, on the one side you have 90,000 overdose deaths last year in America. That's on the one side. On the other side, that's the same sort of thing. That's

an abused person. That's somebody who's abused and needing their violent father to come smash somebody's head in for them. Needing a thug to beat somebody up or to remove their freedom. Like that's like, that's something wrong. That's,

that's something like mentally, psychologically wrong with you. And I think there's, we're an abused population from a, you know, an abusive system. So what you're talking about there would be a mass psychosis. Yeah.

It's a psychological problem. Like what happened with Germany? Why did Germany go like that? They were humiliated, right? They were a humiliated population post-World War I. Well, we're a humiliated population as well here. And I think we have these two MSNBC versus Fox, and they're pushing the two sides. MSNBC's ratings are totally in the gutter now,

like a fraction of Fox's, but it's not just Fox. It's just, I think even if you watch Fox, if you're getting like Tucker Carlson, you're getting a more discerning worldview, albeit far from perfect, but Tucker does have on opposition personalities. No one else does this.

No. We do got to jump to Super Chats, though, and take some questions from the audience. So if you haven't already, smash the Like button. Super Chats. Smash it. Smash it. Super Chats.

And go to TimCast.com, become a member. We'll have a bonus segment coming up there for members only after the show, so make sure to check it out and like, share and subscribe to this channel. Alright, Joe Howard says, I live in GA, not far from Athens. The gas went up like crazy already. Wow. Yep. Yeah, well, we have to drive

back tomorrow, so hopefully it'll stay pretty calm. Get a backup can. The tragedy is that the government claims that there's no inflation. That's right. Because they are protecting the racket. Take two cans of gas and put them in your trunk.

Make sure you've got some extra. My plan is I have AAA. I have the plan that gives me a 100-mile tow. So as long as we can make it to 100-mile radius. And we do. We have enough to get us. Assuming the guy in the AAA tow truck has any gas. All right.

It's meta. Gunn Griffin says, Tim, Razor Fist, the Rageaholic, said he wouldn't mind coming on your show. He is super knowledgeable on the communists infecting the Democrat Party. Going back to the 1950s would be great to have him on. Absolutely. Big fan of Razor Fist. Wouldn't mind. Would be great.

Jack O'Neill says, Tim, are you aware there are baked in ads for Robin Hood and Facebook on your podcast releases lately? It's not a good look. I am. It's the same as on YouTube. There's automatic ads. Take it from them. Take it.

I mean, my attitude is always like, look, if we do a whole show where we're like Facebook is bad and then they pay ad money to make us fund us in saying they're bad, I'm not worried about my audience being like i heard what tim had to say but that ad from facebook really convinced me uh no but look uh on youtube and on the podcast we have like a general ad role right so right you know i don't know what it is what it is maybe you know what we can try and figure something we can try and figure out something for members the problem is people need to understand the members only stuff is really really expensive because we are paying the bandwidth costs for all of the timcast.com stuff so we're talking tens of thousands of dollars so uh ads they happen you know ads happen yeah ads happen that's a good but but i gotta say like a good logo i'm pretty confident in the mental fortitude of the people who listen to the show so yeah this is this is the most mentally fortitudinous audience one can find i actually

think that's true though no i mean you know that story we started off with about the gasoline pipeline the gas pipeline this is like who clicks on those freaking links that these uh scammers send like after so many decades like how do you do it well it's actually really simple uh the the hacker will take a usb with the virus on it and they'll throw it in front of the door of the building. That's it. Employees, this has always been the go-to for... What? Absolutely.

You would pick up a USB key and it wouldn't. I wouldn't because I understand OPSAC. So people have tried sending us disks or memory cards. The first thing, we have a rule here. If we ever get a package with a memory card in it, we office space it. You've seen office space? Sledgehammer. The broom or the stick.

You've got to be insane to put a foreign memory card in your machine. But what they used to do back in the day is with floppy disks, they would just throw a floppy disk in front of the bank. And then somebody would pick it up. Oh, I wonder what's on it. Oh, my God. Another thing is there was a guy who told me that they would have a CD with viruses on it and they would hand it out like a music CD. Like, yo, yo, check out my tunes, free music, free music. And people would be like, cool. And they'd put it in their machine and then compromised. So people are trusting, but you got to understand too, it's really, really easy to do. Um, because if you read about social engineering, yeah, it's really, really easy to do.

Because if you read about social engineering, which is 99% of all hacks, it's not someone breaking the computer, it's someone tricking another person. I mean, it's extremely easy to embed a remote access tool into any kind of program. They even put it in PDF files. Someone can send you a PDF saying like, here's the invoice. Thanks for doing business with us. And what person's going to, they're going to be like, what's the invoice. Thanks for doing business with us. And what person is going to be like, what's the invoice? And they're going to open it. Boom. They got you. I've received those. I never

downloaded it. I'm like, uh-huh, uh-huh, right. And it'll be from a pretend friend. We have that under our YouTube all the time. The reply, the scammers who look like you, they're the imposter one. But they can't because of the algorithm put here's our WhatsApp number. They have to do like here's our WhatsApp hashtag slash what.

And like somebody has called it. Like somebody contacted us and called the guy. And he was Nigerian, but he put on a fake American accent to sound like Max. Wow. And he played a video of me, but he wouldn't get on this. Jesus. That's great. All right.

We got Josh from Telegram. He says, Tim, look into crypto-based charity governance tokens. The actor who played Stan in The Office is starting one for actors. Maybe you can do one for animal surgeries or a 2A legal fund. P.S. And I get it.

Ian, is this graphene-related mug next? Wrong. Dude, we were talking about graphene earlier. Yeah. We were talking about the planned obsolescence of society and now the fiat overwhelm coming up. So basically they made our roads to break every

eight years. And then we were just supposed to take out some money and pay it and then we'd create jobs. But now the interest is so high we can't afford to build it back. And we need something like a new material. Build back better. Plastic's not good enough. Steel's not good enough. Copper's not good enough. Wood's not good enough. We need graphene. Sure, sure. But don't create a token around it. Build back better. Plastic's not good enough. Steel's not good enough. Copper's not good enough. Wood's not good enough.

We need graphene. All right. It's coming. But don't create a token around it. Build back better with graphene. Eastside Tony says, Tim, call Joe Rogan and get Max and Stacy on his show. And then five exclamation points. Definitely.

Sup, Max and Stacy. Defend the network of Bitcoin. Get Joe on the line right now. Joe, how you been, buddy? How's Austin? I'm with Tim right now. He said hello. You guys have never been on Joe's show?

No. No. It surprises me. Actually, it does surprise me. But I definitely can't just call Joe Rogan and be like, here's your recommendations for the week. We would gladly do Timcast, but that Joe fella, I'm not so sure. I don't know. Who needs 200 million?

That guy. Yeah, but has his audience declined since he went to Spotify. Like, we wanted to watch. Yeah, yeah, yeah. He interviewed somebody recently where I was like, oh, I'm going to go to YouTube. I Googled it. And it was like, only clips. I was like, oh, that sucks.

I'm not going to sign up for Spotify. I already have so many. Yeah, who needs that? Well, it's free on Spotify, though. It is? Oh, but you need an account, don't you? Yeah. You need an account?

I just made it. Two days ago, three days ago. He had the guy talking about aliens on from the government. Was that the guy you were talking about? No, no. It was somebody like Elon or something. I definitely think his views have probably gone down a whole lot. He was like Howard Stern. He went over to Sirius and he just lost his relevancy and cachet as a public figure.

Joe's a cool guy. He's a friend. And I'll say this. When he was on iTunes, iTunes being the biggest podcast platform, when you're number one, a regular person who's never listened to a podcast before opens up the podcast app and your face pops right up. Right. That is real estate you cannot pay for.

Yeah, yeah. And so Spotify paid for it. They basically gave joe enough money to where he was happy doing his show right but but also i think you know i wonder too if uh does joe need to be the biggest podcast in the world i mean i mean it's personally because i'm wondering i can't read the guy's mind and i'm sure you know you know i could probably ask him about it but uh at a certain point you don't want to be the big the biggest you know player in the room because he keeps getting attacked by the media.

I'm sure he's happy to be like, dude, I just want to hang out with my friends and talk about things I find interesting without being harassed by these people all the time. Yeah, but those paid walled – this whole motto of Washington Post and New York Times and this breakdown that's happened since 2016 of attacks on alt media and, and that we need trusted sources, authoritative sources. And then you go to like the Washington post will be like urgent thing about election safety and security and all this sort of stuff. Democracy dies in darkness here. You have to,

you have to subscribe and you're like, okay, well, I guess I don't need to hear the story, right? People don't, you know, it just stops you dead in your tracks

because you just don't want to fill in the details for yet another. No way. All right. I'm going to answer this before I read it. I'm just going to say this word real quick, Bitcoin. Okay, now I'm going to read it. Rudy C. Winslow says, Max, Stacy, I want to dump $1,500 into crypto. Which one should I invest in?

All right. Now, this is where that thing about the caveat about financial advice comes in like i wouldn't tell you where to put that money because i would be giving financial advice i will say that this is what my belief is the story is with bitcoin and this is what i think about the douche coins and then you make your own decision i'm not going to tell you what to do because that would be giving you financial advice but i'll set the table and i'll tell you my thoughts on here and my thoughts on here. But that's up to you to make your own decision. Everything Mac said, I'm saying as well.

So you can't ask somebody else what to do. Whenever I go to casinos, I can't stand it. People would be like, what should I bet on? I'm like, oh, I'm not playing that game. Right, right, right, right. No way. But then sometimes I'll be like, dude, bet on this one. Bet it right now.

And then when they lose the money, I'm like, ugh, I'm going to pound back. Like, I made you do it. I can't do it. You just dollar cost average into Bitcoin and set it and forget it. And don't fall into the trap of trying to be a professional trader and getting into the douche coins. Plus, Uncle Joe will be sending us more money soon. Don't worry. Uncle Joe, the money's coming from Uncle Joe.

You guys are going to love this. M says Sheeb got listed on Binance today and Binance ran out of ETH deposit addresses because so many people wanted it. The coin is top 20 on CoinMarketCap right now, up 2,000% past week. Don't forget ever.

SHIB owner needs a leash. Right. That's exactly. Binance is a casino operator. Yeah. And so is Coinbase. And so are these other exchanges. Coinbase.

They are casino operators. And they list. It's like listing the number seven on a roulette wheel as a thing that you can dump money on. Yeah. That's what this is. That's nothing to do with anything and you know people do and i i've actually started blocking people on twitter i'll tweet something like totally nonsensical you know i bought it i made a cheeseburger today and

i put cheddar on it and at the top the immediate comment is this coin is going to the moon right and i'm like get out of here so my theory is as well that, you know, especially with guys, I think a lot of guys use it as a bonding to get wrecked together. Like, you know, that TV series Jackass or something. They like to just like, you know, you ever see those videos for Darwin Award? It's always guys, right? Young guys doing something really stupid. And I think they genuinely, if you've ever been in the troll boxes on like BTCE, which is an old exchange that is now dead.

It was a whole bunch of guys. It was hysterical. I lost a bunch of money. Yeah, yeah. They were like, dude, I just lost my house. My mom. I had Bitcoin on there. Yeah.

And then I went, oh my God, that's gone. But I think they do it for the lulz. Just like remember back in the days when Anonymous existed and they were all the lulz truck. What was it? Lulz? Lulz Sec? Yeah, Lulz Sec. Yeah.

And then they all got thrown in jail, right? Well, they had a traitor. Yeah. And then they were like, oh, this isn't fun anymore. Right. Exactly. And the thing is, everyone's having a lot of fun. Yeah.

And then they get wrecked. And then they're not as fun anymore. Yeah. It's like Wall Street Bets. Then they a lot of fun and then they get wrecked and then they're not as fun anymore. It's like Wall Street bets. Then they lash out. Have you ever seen Wall Street bets? What about it? Like how they would post

like, I just put you a hundred grand into this ridiculous stock and it's like zero and they're like, well, there it goes. Yeah. Yeah.

Dave Portnoy did that too. Dave Portnoy. Interesting phenomenon that Dave Portnoy has. He should not have sold, huh? What'd he do? He's a $700,000 loss On GameStop meme stocks

Oh because he sold He's a classic example of somebody who Confuses brains with a bull market Right so he Stepped into a bull market He's making some fast money And you start to think that it's because you're smart Then he loses

The Winklevoss talked him into Bitcoin plus a douche coin. He lost quick. He sold out, lost money. And then he tries to make it up by going into doggy coin to make it up because now he's a gambler. Now he's trying to make up and get it back quick. You know what my favorite thing is?

When Bitcoin hit 20K for the first time, and there were these stories emerging where people were like, I mortgaged my home to buy Bitcoin. Yeah. And then when it tanks down to like 10, they panic sold. Right. And if they held on to it, they'd have cleared everything. Right. Leverage is always a bad idea. Yeah. There's no point in going into leverage. I mean, I realize I did mention I collateralized my gold and silver to buy Bitcoin, but I did so in a moderate way. And I am a former professional Wall Streeter. So I do have some experience. I got one for you. Group B says, Tim, is this the guy that famously said, have fun staying poor that you that you that you so much like to say much? Wow. OK, that is not me. That is Udi Wertheimer. Wertheimer. He's probably I probably

said his name wrong. Now that's going to become a meme. That's the thing. Yeah, yeah, yeah. I created a meme by, there's a famous Bitcoin meme artist named Greg Zaj. And I thought, I was like talking about him on our live stream. And I was like, yeah, there's this guy, Grzaj. And it's like, their meme is like, no, it's Greg. And I keep on saying it over and over. It's like, no, my name's Greg. Yeah, yeah, yeah.

All right. We got Amala Shock says, Tim, here's $10 earmarked for a limiter compressor plug-in for your soundboard to keep your more dynamic guests from blowing up ears. How about this? What? We need a professional sound person to come in and just get us set up. We have a new system coming in soon, and we need an AV pro who can help us set up the new system. And it's going to have to be over a weekend.

Probably should be pretty easy to plug everything back in. And yeah, there you go. I have a suggestion for a guest. Yeah? Jack Mollers. Who's that? He runs InStrike and Zap,

which is a second layer Bitcoin application. Just came back from, I think it was Ecuador. And it's now the number one finance. El Salvador. El Salvador. The number one finance app in that country. And he's changing lives. He's changing the world.

And he's a Bitcoiner. He's a young guy. I think he's a millennial. He could even be Z. I don't know. He's very young. He's just super dynamic. And he built this company from scratch.

And it's it's as I said, it's second layer Bitcoin. It's like we're having a conversation about Bitcoin, but there's already there's already something going on. That's well beyond it. That's lightning. So lightning payments. Jack Mallers is the dude. He's the guy. And he would be an excellent guest. I really do believe.

I think so, too. All right, so Sam T. says, China has Bitcoin mining superiority by a large margin. What does the future look like for Bitcoin mining? All right, that's not true. First of all, mining is migrating out of China. A lot of it's coming to America, particularly in Texas, because it's all about cost of energy, and you get a lot of cheap energy in China, in Texas. Number two, a lot of the mining in China is pools, and the pools are from all over the world.

So that's a mistake. That's kind of a misdomer. That's a myth. So they're outsourcing computing power? Yeah, but it's gone in different countries. And it's leaving China. It's moving to Texas, and Texas is becoming a mining powerhouse. And part of the beauty of Bitcoin is what's called game theory.

It's baked into the protocol. You've got these three major elements to this game theory. You've got the miners, the nodes, and the developers. And they're all working together but also competing with each other. And as a result, you have maximum distribution or decentralization. And everyone is incentivized to keep it decentralized while maintaining this protocol that emits coins every 10 minutes and offers this way out of the system. The number one thing about Bitcoin that I would emphasize is that it separates state from money. We've never had that ever in the history of the world.

All money has been controlled in some degree by the church or the state or some central authority or a government. This is the first time we have actual hard money that's completely separate from the state. They get individual sovereignty. So for all the people that are distressed about the riots and the inflation and the disunity going on, with Bitcoin, you have individual sovereignty. You have mobility. You have agility. And you have community. And that's the most important thing about it, not price goes up or number goes up. That's not really the most important thing about it.

All right. So Charlie2799 says, what's not really the most important thing about it. Alright, so Charlie2799 says, what's the best way to buy crypto? Right, I use Swan Bitcoin. Can I do my ad for Swan Bitcoin? Yeah, shout him out. Swan Bitcoin. Go to swanbitcoin.com forward slash orange pill. You'll get $10

free in Bitcoin if you register. And what you do is with this company, it's run by Bitcoin OGs, and they are dedicated to Bitcoin maximalism, and it's very easy to set up a dollar cost averaging. As a matter of fact, I can create swanbitcoin.com forward slash Tim Pool in a heartbeat,

and you would get immediately, it would be something that would, an easy way for folks to get involved. We should do it. Let's do it. People like send Bitcoin to the show or whatever. They would sign up and it's a business arrangement so that your enterprise. It's an affiliate. We'll get an affiliate link.

So this affiliate link would would benefit this enterprise. OK, they're a excellent company. Bitcoin only. OK. We'll get an affiliate link. So this affiliate link would benefit this enterprise. They're an excellent company, Bitcoin only. And it's set up. As far as I know, it's already set up. It's already set up, Tim, as far as I know. It's already up and running. The thing is happening in real time, as I understand it.

If it's not, then why not, Corey? I told you to get it ready, Corey. If it's not up right now, then you freaking blew it, Corey. Darn it, Corey. Darn it. Ian Spooner says, can you talk about Ripple being sued by the SEC and the XRP ledger? Yes, I can. Ripple is a scam. It's a douche coin.

But the thing about it is that they – this is the problem with a lot of these douche coins is that because they have pre-sale and they are out there with the bags of cash, they can hire really great lawyers. So they've taken on the SEC, and the SEC is suing them for legitimate reasons. But they've got such a cadre of very, very high-priced lawyers that it's going into the courts. It's going into the battle. They – it's hard. As we said before, the regulators are captured. So in my view, if the SEC, I'm not convinced that they are not simply looking to get a cut from that. The guys from the Ripple Foundation or whatever, I mean, it's so dodgy. But they were dumping like billions of dollars a year onto bag holders.

Yeah, then you got an exit scam. But in a way, you know, the bag holders keep pressing that link in that email. You know, here, download this PDF. These douche coins, because they have pre-mined coins and it's centralized, they buy Twitter trolls. So if you mention that on Twitter, you'll get 10,000 trolls will show up. Those are all paid trolls who are working for a dollar a day.

You see that with all the douche coins. Call them pre-mined. But Bitcoin has no centralization. There's no PR department. There's nobody behind it. There's pushing it. It just exists on its own merit for the obvious reasons of bestowing individual sovereignty in a time when that is desperately needed.

That's the important thing about it. Number go up is great, but having individual sovereignty is better than anything else, particularly in the circumstances that we're describing today, where our own sovereign nation is crumbling before our very eyes. We need to start all over again. The millennials and the Gen Z, with Bitcoin as their Bitcoin standard, will be able to remake this country, take the best of the Constitution, the best of the Bill of Rights, the best of the Declaration of Independence,

and build and start from scratch. Start from scratch. Build it up all over again. America's an idea. It's not a place. It's an idea. Tim, you can do it. You can help your generation. America's an idea. It's not a place. It's an idea. Tim, you can do it. You can help your generation.

Sure, sure, sure. But Gen Z and millennials are split pretty heavily. They need leadership, Tim. That's where you come in. You're the leader. You've got the beanie. The beanie says it all. In a thousand years, there's no crowns.

It's just beanies. There's just beanies. A beanie for all. Make beanies great again. Hunky Dory says, I think I know the answer to this, but this one's for you. Dollar used to have a gold standard. What does Bitcoin have? What creates its value?

How is all currency not notional like the dollar? Right. There's two answers to that. First of all, understand that what is money? That's a fundamental question. What is money? What is money? It's a universal trade medium.

How does it become money? Money becomes money because people use it as money. So thousands of years after using beads and shells and different things, eventually gold became a universal money. It became the most trusted money. It became money because it's portable. It's divisible. It's desirable. No, you can't print it.

No, no, no. You could stamp it. Well, it's verifiable. It's verifiable. And so it becomes money. Central banks are big owners of gold, and gold is a tier one money. It's a base layer money. So now what makes fiat money not good money?

Because it's easier to counterfeit. It's not backed by anything. It's just paper. It's not base layer money. As we said, it's backed by violence. It doesn't have any intrinsic. It doesn't have any value. It doesn't have any value. It doesn't have any backing to it.

It's obviously – the key, though, is that it's not scarce, right? So fiat money can be printed. That's the biggest problem, and that's the problem we're having today is that even though it's backed by violence or backed by the government, you can print it. Okay, what about Bitcoin? Bitcoin is absolutely scarce. So it's better than gold in that respect because gold is relatively scarce. It's deflationary. It's more divisible. It's more portable. And here's the thing about Bitcoin, which you don't have with gold. As you point out, you need to stamp gold to make sure it's verifiable that

that's gold. With Bitcoin, the transaction is the verification. It's self-verifying. You don't need a third party. You don't need to pay somebody to verify that it's actually gold. It's self-verifying. Plus, it transmits value across time and space. Right. And then you get into the energy. Okay. It converts energy into the hardest money,

that is to say the scarcest money we've ever known as humans. So it's backed essentially by energy. So energy is converted into the hard money. And then when you enter the hard money universe, you then enter what we call the cosmic consciousness. Or you're entering the global unconscious, which is what we do on the Orange Pill podcast. We explore the dimensions of Bitcoin that we're just now understanding in terms of its promotion of peace, love, and understanding. It's like the world with a soundtrack from Elvis Costello.

It's like love rules all. It's the beginning of the Aquarius age. Talk to me. Talk to me, Tim. Let me know what's on your mind. The problem with this question, I think the easiest way to answer it for Hunky Dory is he says, the dollar used to have the gold standard. What does Bitcoin have?

What did the gold standard have? What you misunderstand is that Bitcoin is gold. Exactly. If you're asking what does the dollar have, well, then maybe we can, you know, Well, then maybe we can – what's cash to Bitcoin's gold? All value derives from human consciousness. Confidence. Consciousness. No, no, no.

It's confidence. Well, it is confidence in that people – we know that money becomes money. If it's used, people use it as money. And I'm willing to take it because I believe I can get something. The thing about it is that it can take the value into the future. The reason why people don't use chicken feathers or sand or hand puppets or whatever as money is because it degrades over time. It has a lot of entropy, which is the physical notion about it. Gold has very, very little entropy. Thousands of

years later, you can pick the gold from... So, you know, you would exchange gold as money now because you know that a year from now it someone will accept it in exchange for something else whereas fiat money you know that a year from now it'll lose purchasing power and no fit let's him no fiat money in 300 years has avoided trading at zero not even the british pound has lost 99 and a half percent of his purchasing power they all go to zero over 300 even the British pound has lost 99.5% of its purchasing power. They all go to zero over 300 years. Every single one has gone to zero, Tim. Is that what

you're going to put your wealth and your fortune into something like that? I will also point out gold actually can be used. Gold is used. That's not necessarily a good idea because to the extent that gold has utility value, and this is where I have a major disagreement with Peter Schiff, is that it actually detracts from its use as money.

Because what you want from your money is pure price discovery based on people making transactions in terms of their valuation of what it's worth for them at the moment. If you start to say that gold has use as electronics, you start to infuse that conversation with a valuation outside of what we're doing person to person. The problem is inverted. So we need gold for certain things and computers and back in the day with memory cards and stuff like that. And because gold was used as a store of value, it became very difficult to get. It made things more expensive than they needed to be because there was a function for it. But I will tell you this. You can't deny that the core function of fiat currency does exist.

And then when all is said and done, there's a real good use for the paper money. What kind of nonsense is that? Toilet paper. Oh, right. I knew that there was a point here. There's some use for it. Tim showed us a secret bunker filled with toilet tissue. Yeah, this place is amazing.

I'm like, it's a labyrinth. It's just a warehouse of toilet paper. It's a labyrinth of toilet paper. You know, I came up with a really good idea for Money Spinner is like finding headphones to go with for women. Yes. Because it messes with your hair. Like I wanted to look like a female clint eastwood i got the poncho even though um that's probably cultural appropriation right

i got it in mexico city and um the thing is but my hair gets flattened right like right how do you deal with that? I don't know. Slash it with cold water before you get out of the shower. Or whenever you wash your hands. Is that cold water? Yeah, so how do you deal with the volume at the top? Dab it with water. Yeah, yeah, yeah. You know what else I like about the value of Bitcoin?

I want to get back to your hair. Yeah, yeah. No, I want to get back to her hair. The smart contracts, the opportunity cost gained by removing someone from the equation So right now you send your dollar to the electric company They have to hire someone to go Turn the knobs and turn the electricity on for you With Bitcoin you send the Bitcoin to the electric company

The smart contract tells the Computer program to activate So you can remove that actor from the The cost So now instead of being like It's really annoying When you're trying to set up electricity at your house actor from the cost. Right, that's true, yeah. You can build smart contracts on Bitcoin. It's really annoying when you're trying to set up electricity at your house and you've got to call the guy and they've got to

send somebody out and then I've got to pay them, they've got to confirm the payment. With Bitcoin, it's like I send the Bitcoin, ding, it just turns on instantly. It just intermediates layers and layers of bureaucracy. Smart contracts. Think about the real estate business. Smart contracts and electricity, do you have that? Yes.

How do you turn the... Turning electricity down is one example. Think about the real estate business. Smart contracts and electricity. Do you have that? Yes. Right. So how do you turn the – turning electricity down is one example. When you get a new apartment or house, you've got to call the electric company. Give them your information. Then you've got to send them a payment. And then they keep changing their name too. The electric company. Imagine if instead you walk to your house.

You have a new house. You walk inside and there's your meter and it says a barcode, a scan QR code. It says send to this address to turn on power and you just scan it and then the lights turn on instantly. They call it trustless because you don't have to trust that someone's going to do the thing

for you. As long as money comes into this address, power equals yes. It's that simple. No more calling. No more verification. Just boom. By the way, Bitcoin world, Bitcoin Twitter is like watching this right now.

Oh, cool. Shout out. I'm sure they're going to have an answer for my hair. Oh, yeah. Cold water. All right. We got – Colton Lindsey says, since January, I've been dumping any fiat that I have into Bitcoin and leveraging it at 60 to 40 loan to volume ratio to pay

my bills each month. I know this is ill-advised, but Bitcoin is untouchable. Love, Orange Pill. Oh yeah, I love Orange Pill. Go to youtube.com forward slash Orange Pill and subscribe. Go watch us. It's next level. A lot of people have already taken the

red pill, but what happens next? After the red pill is the orange pill. All right, we'll do a couple more here. It's cosmic love. Pims the Great says, I have a 401k through my company. How can I reinvest it? Okay, so again, bordering into financial advice, right?

Which I don't offer. But I will say that if you have a 401k or a retirement account like this, it is possible to get into Bitcoin with it. And a simple search or a retirement account like this it is possible to to get into bitcoin with it and a simple search on a search engine will immediately take you to those ideas huh okay but it is possible i'll say that so you can you can answer that question in two minutes just answer 401k plus bitcoin and you'll get a lot of good answers i also have to say f-U, Greg. Greg. Oh, yeah. Greg Grazage. Yeah. Grazage. Grazage.

F-U. We'll say yellow pop. There's some yellow cat pop guy. Yellow pop. All right. So we'll take one more. McHatton says, Google just deleted my super chat saying if net goes down, Bitcoin equals zero.

Wrong. It's already carrying on satellites. You don't need the internet. You don't need electricity. You have nodes, wireless nodes. People are doing wireless Bitcoin transactions outside of all financial grids. I don't think the internet could ever go down at this point.

No, of course. Mark tried it. Remember, he tried it. He turned off the internet for four or five days, and then all the industrialists of each... But if you don't, it doesn't lose... Actually, your wealth would still be preserved within the Bitcoin system.

And as long as there's two computers somewhere in the world, they can, the mining adjustment adjusts down, they mine, blah, blah, blah. It never goes away.

It never goes away. If you've ever been on a cruise ship, the first thing a bunch of people tell you to do is, well, before pandemic, is to download these apps. Yeah. Or if you go to like Burning Man,

I think they do this, where it's a Bluetooth mesh network yeah yeah yeah so it's a mesh network everybody's phones are on and they're all talking to each other yeah yeah so the people do that on a cruise ship i didn't know that yeah so i went on a cruise uh several years ago and they were like download i can't remember what the app was called that's weird like what sort of cruise like it was it was a bunch of old people? No, no. It was like the richest people in the world. Really?

Yeah, it was called a bunch of super rich people. I think it was called Summit at Sea, and it was like 10 grand to go on the cruise. Yeah. And like the Disney people wanted me to be there. So I was like hanging out with like Lady Gaga's manager or something. But everybody had an app, and you could send a message. I could send a message to Ian, and my phone would send the message through your phone max right but you couldn't see it right and then it would eventually that's what you can do with bitcoin and they do in venezuela right now on mesh time so here's what happened

here's what happened in egypt when mubarak tried shutting down the internet yeah a group called telecomics hackers yeah some of these people i remember this we covered it yeah so they started doing something called operation white fax where they spammed fax machines in Egypt with instructions on how to create dial-up internet. And so what people would do is once the internet was down, take a phone line, plug it into their computer's old school router, and then call a certain phone number and give them dial-up access internet because you can't shut it down. By the way, I brought Plucky. Who's Plucky? Plucky is the world's most famous economist. Oh. Hello, I'm Plucky. Who's Plucky? Plucky is the world's most famous economist. Oh.

Hello, I'm Plucky. Uh-oh, here comes the bastard. Tim, I'm the most famous economist in the world. You can ask me any question. Can we repeal the Federal Reserve Act? Sure, man. So, Tim, I'm talking to you. Any question in the world, I know I'm plucky.

The world's foremost economist. I don't know what to ask him. Fine, Tim. I come all the way here. I'm already going to buy Bitcoin. I'm your nightly dear show. I come on and I'm starving to death and you don't have any questions for me. What kind of show you got over here, Ian?

Ian! What would be the first step to repeal the Federal Reserve Act, Plucky? Bitcoin fixes it. All right, Plucky, I think we've heard enough. All right, everybody. We're going to get more rowdy in the bonus segment coming up over at TimCast.com in just about an hour. We'll figure it out. So make sure you subscribe to this channel.

Smash the like button. Share the show with your friends. You can follow this show at facebook.com slash timcast IRL. Share the clips from the show to help spread the word. And we're also on Instagram at timcast IRL. What about your new affinity link for swanbitcoin.com forward slash timcast? There you go. Do I got to sign up for that or something?

You're done. It's done. All right. Great. You made some Bitcoin. The Bitcoin is zipping to your account. Max, promote your podcast. Promote your podcast.

It's my Orange Pill podcast. Turn to me because Max doesn't know that sort of stuff. It's YouTube.com forward slash Orange Pill. Max doesn't know we have a show. He just thinks we're sitting in the living room okay and uh and talking so youtube.com forward slash orange pill or join our telegram group t.me forward slash orange pill and you'll find relentless optimism there all right no no no coins yeah you can follow me across the net thanksland.net. Thanks for coming, guys.

This was fun. And now we're doing an OnlyFans with you? Yeah, that's right. Oh, gosh. Max has been waiting. I have the best legs in Bitcoin. Oh, my gosh. Okay, I'm really excited for this bonus segment,

and I have to agree with Stacey that these headphones are absolutely sexist. They flatten your hair. There's nothing you can do about it. It's a pain in the neck. You can follow me at Sarah Patchlids on Twitter. We will see you all over at TimCast.com. Become a member and we will see you all there. Bye, guys.